diff --git "a/reddit_finance_43_250k_283.txt" "b/reddit_finance_43_250k_283.txt" new file mode 100644--- /dev/null +++ "b/reddit_finance_43_250k_283.txt" @@ -0,0 +1,10000 @@ + + + + +My father did not get the taxes done yet, but I do have his W2. I have done my on taxes since I could (they have always been very , very simple) so I would imagine given I don’t know what was involved in my fathers and with his passing, going to a professional would be the best course of action. + + + + + +I know a few things we cannot move forward on until we have the official copies of the Death certificates. These should actually be signed today if all goes well. + + + + + +I realize my mother will now need to start looking for work, but is there anything specific we should do to make sure this does not turn really ugly? I don’t know that she can get anything super amazing unless very lucky. She has been out of work for a while and never really did anything towards a career. + + + + + +Should the balances be paid off right away once the insurance money comes in? Should the taxes be done before the insurance money comes in? I think I remember reading the 401k would be effected but not the insurance payout, but I am not sure. + + + + + +I myself currently only have $3000 in the bank (the move used up all of my funds) and my sister has nothing put away but will be making more money than I at her job) + + + + + +I know these are very general questions, but there is a lot that is new to me since I now have to “grow up” to put it harshly against myself (totally deserving of it) + + + + + +I also know this is a lot of info, but I wasn't sure what all would be needed so tried to include as much as possible. + +Do you guys think INTC is a buy at the current price? It's almost at their 52 week low. I was thinking about scooping 100 shares and see what happens + +P/E Ratio 6.22 +Dividend 3.84% +Do you guys think INTC is a buy at the current price? It's almost at their 52 week low. I was thinking about scooping 100 shares and see what happens + +P/E Ratio 6.22 +Dividend 3.84% +On september 19th ethereum will switch from using graphics cards to verify its network + +this is called the merge +ethereum will become a deflationary currency and its daily mint of new ether will drop by 99% +its current price is 1700 usd per ETH +ethereum at +10-20k per ETH within a few years is not unlikely +if you own 32 ETH you will have your own node which will give you intergenerational wealth. Your grandchildren will be using this same node. + +The decision is yours. +Remember in The Dark Knight when the joker rigs up the two ferries with explosives and gives the ferries the detonator to blow up the other boat? Each of you has been given the detonator to other people's money. If you press it, you'll take your reduced gains/losses, but you'll be taking that from another retard, not the hedge funds. + +That's where I'm noticing people are at right now. I've been tracking emotional sentiment across many spam channels and communities, and from what I've seen, traction is slowing down and the big question "Do we sell and take our loss?" is coming up. I guarantee there are a lot of people who would stand in solidarity and/or lie just to keep the mob going. That's how Prisoner's Dilemma works. MANY of you are still diamond hands and I commend your valor, but we need to rally the soldiers who don't have that kind of gumption. We need to stand united. Praise u/deepfuckingvalue for staying in the trade fully. + +# Most Important Part is this paragraph: + +Let me explain the Prisoner's Dilemma: 3 people are arrested. Those 3 people are then questioned individually, but the cops have nothing on them so if they can't get a confession, they all walk free. To try and intimidate them, they tell them if they rat out their friends, they can walk free, but if their friend rats them out first, they won't get that deal. "Do you really trust your friend not to rat you out?" All it takes is solidarity and all 3 walk away and win. But, if one person breaks and rats them out for selfish gains, then the whole thing breaks down. + +You and I, and everyone, all knew coming into this it was a boom or bust trade. The noobies expected immediate returns and are the ones risking the integrity of this play. But we can still prevail. We just have to not rat out our fellow autists to the hedge funds. + +If you overextended yourself and are about to lose your rent money, we understand. We'll buy your shares back. But, remember, we always knew this could zero out and it's important to show your solidarity, because without it, this is over. + +We know the hedge funds are cheating, manipulating media, acting corruptly, and showing their true colors. That means we are winning. They wouldn't need these tactics otherwise. They had the whole weekend to come up with a new strategy to dwindle our resolve and to be honest, I can see that it's having an effect on some of you. We just got mortared something fierce and we're stuck in the trenches with our ears ringing. That doesn't mean the battle is lost. + +Rest assured that the majority of us are NOT selling and if you are in, all you have to do is **hold.** + +This is a test of human nature. Will you be selfless or selfish? Will you trust in your fellow retard or turncoat and run away? Now you show your true nature. + +GIVE THEM NOTHING, BUT TAKE FROM THEM, EVERYTHING. + +Forgot to say this is not financial advice. I just like the stock :). + +Edit: Added this supply/demand chart from u/Davscozal: [https://eresearch.fidelity.com/eresearch/gotoBL/fidelityTopOrders.jhtml](https://eresearch.fidelity.com/eresearch/gotoBL/fidelityTopOrders.jhtml) \- If more green than red, then we're winning. Price decreases are false. This is basic supply/demand. Price does not go down when you have more demand (green) than supply (red), but it did anyway. + +Edit2: u/DivySuresh made the excellent point of saying + +>The last one to cover on the HF side is going to pay the most. So they're facing the same Game Theory problem we are. + +We have to reach their breaking point before they reach ours. "We can remain retarded longer than they can stay solvent." Never forget. +# SEC: SHORTS DID NOT COVER. + +[SHORTS DID NOT COVER](https://preview.redd.it/cuqfr2kf1au71.png?width=1770&format=png&auto=webp&s=371a116b9e6523385837c7846678259f212182c1) + +The SEC said buying to cover was a very small fraction of overall buy volume. And, GME price continued to remain high after the effects from covering should've passed. From these, the SEC concluded that it was investors bullish on GME ("positive sentiment") that caused GME price to go up rather than "buying-to-cover". (This is why they needed to turn off the buy button. The short squeeze didn't even happen yet! They *needed* to *stop* investors from buying a stock they liked!) + +# TADR: THE SHORTS DID NOT CLOSE. + +The sneeze wasn't even a gamma squeeze! + +[Not a gamma squeeze](https://preview.redd.it/yvqbm9i95au71.png?width=1748&format=png&auto=webp&s=6d390069cb1672abe81e1b60b614a1be286ddc3c) + +SEC is reporting that bullish investors drove up the price. *Not short covering. Not a gamma squeeze.* + +# SHORTS TRIED TO CLOSE & THEN "OH SHIT" + +The SEC "Staff" said they saw some early short covering between Jan 22. + +[Shorts TRIED to cover](https://preview.redd.it/hm7cp8d1cau71.png?width=1740&format=png&auto=webp&s=c6cc9b1e7e3e301bf30deccc9c3d2cfa58ff28b8) + +The Shorts *tried* to cover starting Jan 22. But then the price kept going up as they did. This early short covering led to several "Oh Shit" moments. Ultimately, investors realized what was going on and piled in (FOMO). That buy pressure led to the peak on Jan 28. What do they do? Turn off the buy button! + +[Short Covering Between Jan 22 and Jan 27](https://preview.redd.it/r7q4cpgddau71.png?width=1696&format=png&auto=webp&s=41d9142aa88f120d5e6f6e11fad03fca8f8d123c) + +Notice the SHORTS BASICALLY STOPPED COVERING on Jan 27! They tried a couple more times Feb 2 and Feb 5. Both of those resulted in the price going up so they stopped. Look at the overall buy volume during those times though. The pink short seller buy volume is puny compared to the overall blue-ish (teal?) color for overall buy volume. + +This is why the SEC concluded that it was **investors bullish on GME ("positive sentiment") that caused GME price to go up rather than "buying-to-cover"**. And, this is why turning off the buy button brought the stock price back down. Everyone, even the shorts, stopped buying to keep the price from skyrocketing. + +# GME IS THE ONE TRUE IDIOSYNCRATIC RISK STOCK + +To jack your tits some more, the SEC report says "**GME is the only stock** that \[SEC\] staff observed as **having short interest of more than shares outstanding in Jan 2021**" \[pg 25\]. + +[Apes owned the float.](https://preview.redd.it/vgau05j12au71.png?width=1756&format=png&auto=webp&s=af957afcdc2e9a06abe1aac7dafa1d9c76f1eec2) + +*APES OWN THE FLOAT.* GME short interest in Jan 2021 reached 122.97%. Apes already owned the float in Jan 2021. Some basic maffs: 122% Short Interest + 100% Real float shares - 109% Institutional Ownership = 113% Retail Owned Float Shares. Yes, according to this SEC report and what I remember from the Bloomberg Terminal posts back in Jan, apes owned 113% already. Give or take. + +Apes almost certainly continue to own more than the float (or even multiple floats) now. *Keep in mind that this report excludes anything after Jan 2021 so nothing after the sneeze is in this report!* + +[As of Jan 2021, Short Interest \(122.97&#37;\) was greater than the float.](https://preview.redd.it/xrmcr36j2au71.png?width=1748&format=png&auto=webp&s=ac0bd221505c22a8ba8546e3265f4fe7edcf6935) + +How do we know GME is *idiosyncratically* special? + +[Reddit and MSM?](https://preview.redd.it/flakhwkm3au71.png?width=1766&format=png&auto=webp&s=edac276596ed6c0c12d708d8925a036fd1d49e0d) + +# So... Who's bag holding? + +The DTCC & NSCC are ultimately responsible because they guarantee trades as the clearing agency: + +[Clearing agencies are ultimately responsible. ](https://preview.redd.it/f59nhnmx2au71.png?width=1752&format=png&auto=webp&s=52851923eccd5612029959546e6cbb1b4e1ba86e) + +Figuring out which agency is responsible depends on the type of failure. + +[DTCC and NSCC are the clearing agencies responsible.](https://preview.redd.it/prjzcwoz2au71.png?width=1696&format=png&auto=webp&s=5fea4d01ebc158e98ba5a081b89783c663057e69) + +Ready for the blame game? Are the failures are from transferring positions (DTCC), maintaining records (DTCC), or settlements & clearing (NSCC)? Or, you know, *both*! + +**EDITs**: Sorry, it's all in flux. Adding and clarifying as I go. + +[Link to the SEC Report](https://www.sec.gov/files/staff-report-equity-options-market-struction-conditions-early-2021.pdf) +I am curious what people in here think about $NOK and how it will develop in the next weeks after earnings. I believe that $NOK will go up in share price due to the massive banning of Huawei across the world, espicially U.S. is a big market for 5G networks, which is now open to other companies other than Huawei. $NOK is currently ~~$4.56~~ $4.87 per stock. + +EDIT: I also want to mention that $NOK got upgraded to a BUY from SELL at DNB Markets, and a new PT of $5.80. Source: https://finance.yahoo.com/m/9ca163e9-4ff0-3576-97e4-b14eebf361b6/nokia-upped-to-buy-after.html + +EDIT2: $NOK is currently $4.87 as of 18:55 CET / 11:55 CT + +DISCLAIMER: This is not financial advice, I am just saying my gut feeling and everyone should only make a purchase if you feel it. Also do your own DD, if you are interested in this stock. +I apologize if this is not the right place, but I hope this post will help others as well, as I read a few other times of similar events happening. + +**TLDR: I live in the UK. I returned an expensive (£1000) item to Amazon. They claim that the item is "incorrect" while on the phone their support confirmed that they received the correct one. The return center refused to explain the issue and they refuse to refund it or return it. I don't know what to do.** + +Hi all. For reference, I live in the UK. I have been an Amazon customer for years, I have hundreds of orders with them, as we all know, they offer the comfort of next day delivery and 24/7 support, so I always preferred to go with them, as many times when I would purchase from other websites, if the item(s) would have issues, it would always be a pain to solve them. + +I never really had an issue with Amazon. I happened to return some items here and there from time to time, especially since I buy everything related to my work from them. Returns always went without any trouble, even for a few high-value items, until today. + +I returned an incompatible camera lens worth £1000 ($1250) I recently purchased. Its conditions were barely opened and without any sign of usage. I do take full responsibility for making the mistake of purchasing it, when only after I received it, I realized that didn't have the features I needed, hence, unfortunately, I had to return it. + +While it originally seemed that everything was going as usual, I contacted the Amazon support as I knew from the tracking that they received it, only to receive an automated answer that "It appears we received incorrect item instead of the correct item". + +I kindly answered the email and asked what was going on and if they could provide a picture of the "incorrect item". They promptly replied with another automated message stating the above mentioned. + +As you may understand, I panicked. I thought that maybe I made a mistake, or I accidentally packaged the wrong item, or any other eventual mistake, even though I was sure that I didn't do anything wrong as it was a high-value item and I would always pay attention to something like that. + +After triple checking and making sure that nothing was left in my house, I called the Amazon support, and a lady informed me that they have indeed received the correct item, but it wasn't in the right condition. I was still not very sure about what she meant and what the issue truly is. This went against what the previous support informed me of, fully contradicting themselves. + +After the call, I contacted them again in the live chat, where I respectfully told them that they were contradicting themselves and that either the lady or the return support, were lying and being dishonest. The operator got visibly angry by the way he was typing even though he was being professional, and I was just dismissed in a polite but arrogant way.  + +Currently, their return center has a £1,000 item that I was confirmed by their phone support, but not by the return center itself, that they received it, while they refuse to issue the arranged refund for it or to at least return the item to me. + +I do have the proof of the tracking number that I indeed returned it, plus the lady on the phone confirmed that it was correct. + +&#x200B; + +While browsing online, I read that I could make a claim through my bank, but the problem is that about £650 of the £1000 of the product, was through Amazon gift cards that I previously purchased. Only about £350 was through my card. + +&#x200B; + +I would really appreciate some insights as this is not cheap by any means, and Amazon refused to act on it and just sends me the automated message. They do not even want to return the item, all while not providing pictures of the "incorrect item". + +Thank you to anyone who will read this long text. +I am quite new on the topic of FIRE and have only recently discovered this sub but it has been an addiction for the past couple of days. + +I'm a 22 y/o university student in Germany, living on about 10k a year working part time for around 11k. I have no debt, which I hear is good. And have been reading about investing for a few months now. + +I don't have any significant budget left to invest right now and couldn't cut any costs as I am pretty much living as cheaply as I can but I would like to educate myself further on the topic of FI and ER and what options I have for the time when I start working full time and actually have something to save/invest. + +So far I've been lurking around here, /r/personalfinance, /r/finanzen, /r/europefire and a couple other subs, as well as reading a few German blogs and, of course, MMM (I love it). + +I've compiled a small list of about a dozen books that I am reading my way through but it still feels like I am missing something. + +The list looks something like this: + +* The Only Investment Guide You'll Ever Need by Andrew Tobias + +* The Undercover Economist' by Tim Harford + +* The Wealthy Barber by David Chilton + +* The Rational Optimist by Matt Ridley + +* Souverän investieren mit Indexfonds und ETFs by Gerd Kommer + +* The Four Pillars of Investing by William J. Bernstein + +* The Intelligent Asset Allocator by William J. Bernstein + +* The Millionaire Next Door by Thomas J. Stanley + +* The Bogleheads' Guide to Investing by Mel Lindauer, Michael LeBoeuf, and Taylor Larimore + +* ~~Rich Dad Poor Dad by Robert T. Kiyosaki~~ + +* ~~Rich Dad's Guide to Investing by Robert T. Kiyosaki~~ Apparently Kiyosaki isn't as good as I initially felt. + +* The Richest Man in Babylon by George Samuel Clason + +* Early Retirement Extreme by Jacob Fisker + +* The 4-Hour Workweek by Timothy Ferriss + +Some of them I've read already but I thought they could perhaps be interesting to someone else. + +I'm not eager to get started "piling bucks" yet as I still feel as if I need to understand a lot more about FIRE and money flow and what not. + +Can someone that's been through a similar situation shed some light? What am I missing? Where can I learn more? + +Sorry for the long post. + +EDIT: Added some of the book suggestions from the comments. Thanks to everyone! +There's an interesting piece in The New York Times (apparently adapted from a book) about someone who grew up with very little and now as an adult has no concept of saving. + +https://www.nytimes.com/2017/05/20/opinion/sunday/rainy-day-savings-money.html + +I grew up under pretty different circumstances being middle class in an middle and upper class suburb and can't directly relate. What do people here think of her perspective on spending and saving? +I’ve been sitting on 10,000 GME@70 for some time now. Getting tired of all the Q Anon bullshit conspiracy theories flying around and think, for my mental health, it’s best to get out. + +But I keep wanting to dip my toes in selling covered calls. Does the math really work out as easily as I think? + +100 contracts, for 3/19 $450, at 2.90$ a piece equals 29000$. If it goes to that price, I’m obligated to sell. If not I keep my shares. Either way I pocket the premium? + +What’s the risk I’m not seeing here? + +And: how does one determine the “right” contract price to sell at? Like, obviously I could make more if I was selling contracts at like $300 but what’s the way to learn about the likelihood of those hitting? Is that what IV is all about? +I need someone to pick apart this strategy for me: + +1. Have a goal of making a 10-20% gain on a long position + +2. Buy enough of the long position so you have the ability to sell CCs + +3. Sell CCs at a strike 10-20% above my average holding cost = to the number x100 shares you hold (eg I hold 600 shares, so I’m going to sell 6 CCs at a strike 20% higher than I purchased the shares for) + +Assuming the stock doesn’t tank, repeat this process as frequently as logical, collecting decent premiums and waiting for a 10-20% gain. + +Does this seem like a terrible idea? Obviously you may incur loss if shares go down, but if you set a goal for gains at 10-20% and earn a premium over the course of weeks/a month, you theoretically should see your portfolio size increase. Thoughts? +Even with a large move in the stock’s price, you lose (CALL that you sold is ITM at expiry) or buy (PUT that you sold is ITM at expiry) 100 shares. + +If yes, which tickers? And is this profitable in the long run? + +Asking because I feel like doing this instead of having to roll again and again takes less effort. +Guten Morgen to this global band of Apes! 👋🦍 + +The US has switched to Daylight Savings Time, but Germany is a few weeks behind. As such, the German Markets only open one hour before the US Premarket opens, so Diamantenhände will only cover the first 60 minutes on the German exchanges. + +This truly feels like a pivotal week in the GME saga. Shorts are continuing their aggressive price attacks against retail traders, who are continuing to buy every discounted share that they have on offer. They absolutely *need* the price to be lower, so I will not be surprised if I'm buying an even deeper dip (again) tomorrow. With GameStop earnings after market close on Thursday, there is no shortage of fuckery in store for us through Friday. + +The 15% discount is obviously big news, but even bigger news is the series of messages from the SEC today, warning about counterparty risk, gathering as much margin as possible, particular risk from concentrated positions, and to watch intraday positions closely. My friends, this is a highly unusual set of statements, and the *intensity* of the emphasis in these messages could not be clearer: there will be industry titans falling soon, and now is the time for any institutions who think they can survive to start distancing themselves or they will be crushed in the fallout. The recent jolt to the market has set these events in motion, and the system cannot defeat our Diamantenhände. + +And then RC directly calls out just how dumb they are. They're spending millions to drive the price down because they think that's going to somehow help them survive this? With earnings on Thursday? Against the team that RC assembled to revolutionize retail and pioneer a new kind of marketplace, funded with well over $1b and with an eager customer base? Dumb stormtroopers of the investing galaxy indeed. + +Today is Tuesday, March 15th, and you know what that means! Join other apes around the world to watch infrequent updates from the German markets! + +###🚀 Buckle Up! 🚀 +*** + + +- 🟥 60 minutes in: **$82.14 / 74,95 €** *(volume: 9214)* +- 🟥 55 minutes in: $82.36 / 75,15 € *(volume: 9035)* +- 🟩 50 minutes in: $82.58 / 75,35 € *(volume: 8687)* +- 🟥 45 minutes in: $82.38 / 75,16 € *(volume: 8564)* +- 🟥 40 minutes in: $82.58 / 75,35 € *(volume: 8103)* +- 🟥 35 minutes in: $83.22 / 75,94 € *(volume: 7897)* +- 🟩 30 minutes in: $83.46 / 76,15 € *(volume: 7630)* +- 🟥 25 minutes in: $82.93 / 75,67 € *(volume: 7235)* +- 🟩 20 minutes in: $83.24 / 75,95 € *(volume: 5172)* +- 🟩 15 minutes in: $81.73 / 74,58 € *(volume: 2938)* +- 🟩 10 minutes in: $80.70 / 73,63 € *(volume: 2384)* +- 🟩 5 minutes in: $80.30 / 73,27 € *(volume: 1211)* +- 🟩 0 minutes in: $80.02 / 73,01 € *(volume: 366)* +- 🟥 US close price: $78.11 / 71,27 € *($80.48 / 73,43 € after-hours)* + + +*** +FAQ: I'm capturing current price and volume data from German exchanges and converting to USD. Today's euro -> USD conversion ratio is 1.096. I programmed a tool that assists me in fetching this data and updating the post. If you'd like to check current prices directly, you can check [Lang & Schwarz](https://www.ls-tc.de/de/aktie/gamestop-aktie) or [TradeGate](https://www.tradegate.de/orderbuch.php?isin=US36467W1099) + +Diamantenhände isn't simply a thread on Superstonk, it's a community that gathers daily to represent the many corners of this world who love this stock. Many thanks to the originator of the series, DerGurkenraspler, who we wish well. We all love seeing the energy that people represent their varied homelands. Show your flags, share some culture, and unite around GME! +**SATOSHIS (sats)** + +CURRENT PRICE: $0.000567 + +PRICE TARGET: Most of the community is rooting for $0.001 but some think we could hit $1 one day! + +**Benefits:** + +🚀 12 years of development + +🚀 100M+ hodlers + +🚀 Available on thousands of exchanges + +🚀 Institutions buying in + +🚀 89% of hard cap already in circulation + +🚀 Up 586% in one year +Hello everyone - I have an issue with a new house I recently purchased and I'm trying to explore my options. The issue is that the neighbor’s home is over the property line by approximately one foot extending approximately 14 feet parallel to the lot line.  Also, the neighbor's fence is approximately 7 feet over the property line, extending the length of the property.  + +&#x200B; + +I realize I need to get a lawyer, but have a few questions before I go down that route. First, I purchased this house a few weeks ago, knowing that there was an encroachment and now, I'm looking into ways to fix the issue and protect my property. + +&#x200B; + +Background + +This is in Houston - The lots in this neighborhood were divided and the homes were built in the 1920s.  The neighbor (or previous family members) has lived in the home for \~50 years. The original owner of my home purchased the house in the 1990s (or around there).  As I understand it, around 2013, when the original owner of the home was going to sell it, they discovered that the neighbor’s home was over the property line.  This was due to the updated survey map using more precise locating of the property lines. The original survey showed the lot line was running along the fence.Apparently, the original owner and the neighbor got into a huge fight about it and stopped all communication shortly thereafter. + +&#x200B; + +The previous owner filed an "Affidavit as to Encroachment" in 2015.  This was given to me during the closing process. + +&#x200B; + +Also, I’m not sure if it matters, but the neighbor has not paid their property taxes in 3+ years. + +&#x200B; + +Questions + +\- What type of attorney should I consult? A general 'real estate' attorney? + +\- What options do I have in regards to having a clear property? + +\- Do I need to send a letter (or something else) to the neighbor in order to recognize the neighbor's home is on my property? + +&#x200B; + +EDIT: Thank you for all of the responses. I appreciate the constructive thoughts on best approach going forward. + +I should have noted that this is an investment property for me, which I intend to rent out. Also, the issue was brought up before closing and the bank based the appraisal on the land value (minus a strip of land outside the neighbors home). I am not asking to tear the neighbors house down, but I would like to protect my property from adverse possession and want to take steps to prevent that from occurring. If I can pay to have the neighbors house moved, I am also willing to go that route. If/when the neighbor intends to sell, I expect that the house will be torn down due to its age and the lot line issue will not allow a new buyer to get a mortgage. + +&#x200B; +I’m self managing my properties, and have installed Kwisket smart rekey locks so it’s super easy to put new keys in. But wondering what the common practice is. +I own 6 condos that I bought for cash between 2013 and 2015. Average price was about $40,000 each. I own them all free and clear. + +All 6 properties are rented to decent tenants and the average net is approximately $500/month/unit. So I make about $36,000 per year profit on these rentals which is great. + +At the time I bought them, making $6k/year on $40k investment was a 17% return. However, over the past few years, they've all appreciated and are worth an average of about $100k each now. So that 17% has dropped to 6% due to their current value. Still not bad, and I honestly can't think of any better use for the money if I were to sell these and try to reinvest in something else. + +However, I'm still wondering if it might be smart to cash out on my massive appreciation and wait for an inevitable drop in real estate and then reinvest when prices drop and turn these 6 properties into 10 or 15. Or a down payment on a complex or something like that. + +As for leveraging them, I've yet to find a lender who can work with us because we are self employed and write off most expenses and between that and depreciation, our taxes show much less income than we actually have. Nobody will lend to us. + +Advice on how I proceed over the next year or two to set myself up as best as possible for the future? + +Advice on what you think the future of the real estate market will be? +My family has always been way down on the spectrum of financial stability, as in they can never afford to do anything nice, go on vacations, or do anything that isn't the bare minimum of having a house, food, and a car. More than half of my family is like this, and I don't want to be like them. My aunt is in her 40's, working three jobs. My uncle just turned 50 and hasn't done very much with his life besides stay inside all the time drinking, smoking, and browsing the web. I live with my grandparents, but my own mom is about to turn 40 and has never even owned a house. Might I add, she's in jail currently. My dad is barely living off scraps in a trailer trying to provide for two other people, and is never able to pay all of his bills on time. I don't want to end up like them, but the direction I'm going in, it doesn't seem like that's going to happen. My grandparents aren't going to be able to help me either, because this isn't the same world they grew up in and they're the kind of older people who are stuck in 1955. That's an exaggeration, and I love them, but you get my point. I'm sorry for rambling, but I feel so hopelessly lost. None of the people around me are happy with their lives, and I *really* don't want that. + +&#x200B; + +At the moment, I work a part-time job at McDonalds and have a GED. I will never make it in life like this. What are some steps I can take to start saving money now? Can investing money actually help me make money in the long-run? If so, where do I start? + +&#x200B; + +I'm debating going to college, or at least community college in the future, but right now that would be a terrible mistake because I'm still trying to figure out what I want to do. But any suggestions, thoughts, advice, ideas are welcome. Anything, really. +So I’ve got a credit limit of £9700 and on a typical month I spend £500-1000. I always pay in full so never get charged interest on any short term debt. + +This month has been particularly expensive as I’ve just moved home and spent around £4500 on new furniture etc. Credit utilisation will obviously be >50%. + +I intend to pay this in full next month by the due date, but my question is - will a sudden jump in my credit utilisation in the short term have negative impact on my credit rating? +https://www.macrobusiness.com.au/2022/10/rbas-rate-hikes-are-uber-aggressive/ + +Wouldn't have anything to do with the fact that they negligently waited 6 months longer than they should have before starting the increases? +Thoughts on this? + +"IRA owners who are adversely affected by the coronavirus pandemic (and there will be plenty of them) will be eligible to take tax-favored coronavirus-related distributions from their IRAs. To keep things simple, let’s call these distributions CVDs. They can add up to as much as $100,000. You can recontribute a CVD back into your IRA within three years of the withdrawal date and treat the withdrawal and later recontribution as a totally tax-free rollover." + +"In effect, the CVD drill allows you to borrow up to $100,000 from your IRA(s) and repay the amount(s) any time up to three years later with no federal income tax consequences. And there are no limitations on what you can use CVD funds for during the three-year period." + +[Source](http://www.marketwatch.com/story/coronavirus-stimulus-package-tax-relief-withdraw-100k-from-your-ira-and-repay-in-3-years-with-zero-tax-liability-2020-03-27) +I'm cracking my head trying to understand how everything did not go to shit given the current situation: + +1) Record high mortgage stress at record low interest rates + +2) Record high renting costs + +3) Record low wage growth + +4) Part time and casual employment going up while permanent is going down + +5) Increased cost of living + +6) All this contributing to disposable income being reduced more and more + +7) Extremely expensive labour cost and an almost non existing manufacturing industry + +8) Growing inequality and accumulation of wealth effectively reducing the available money for the economy. + +Meanwhile, restaurants are full on a Tuesday night. People keep taking holidays, buying gadgets, etc. Which could only mean that disposable income is still there. But I just cannot figure out how can someone working in hospitality making 20 an hour live in Sydney. Not even those poor souls being exploited in kitchens below minimum wage. + +The very foundations of a healthy economy are cracking wherever you look at, but lifestyle isn't being impacted as bad as someone would expect it to be. + +It's basically a mix of record high bad things and record low good things. How is this even possible? It all looks so fragile, but somehow it holds up. Not only that, bad things keep going up and good ones keep going down. + +Are infrastructure projects, housing investments and immigration providing *that much* to counter all that? +Jefferies: + +"Tesla's Battery Day on 22 September was one of the industry's most anticipated events. Technical claims and cost ambitions (JEFe $50-60/Kwh) exceeded our expectations but raised key questions, from material availability to manufacturing processes. We turn to Professor Gerbrand Ceder from UC Berkeley for a critical analysis of the presentation, discussing among other topics: nickel availability, alternative chemistries and manufacturing challenges." + +Highlights from Q&A + +"**Innovation** \- Many of the announced technical developments were anticipated and consistent with battery industry innovations but Tesla's strength remains in the drive to "push boundaries" and the time-scale for execution." + +"**Materials** \- Constraints on nickel supply may accelerate. Tesla battery capacity of 3 Twh by 2030 would require most of today's nickel production. Timeframe too short for material substitution. Lithium availability not an issue but extraction/refining over-simplified. Constrains can lead to vertical integration including capturing supplier margin. Solid state will eventually make silicon irrelevant." + +"**Chemistries** \- Doubts about the validity of LFP chemistry for automotive but more relevant for storage, where sodium-ion also looks relevant." + +"**Manufacturing** \- Cost roadmap looked ambitious considering manufacturing accounts for only 15-20% of total battery cost. Changes in manufacturing processes critical contributor to reduce investment spending. Tesla also acknowledged the challenge from pilot to production." +I recently bought a larger house in London and will start the renovation process soon. One of the features I am thinking of is a separate room/ studio for a live-in help that will clean, cook and help with the kids. + +I never had staff living with me before. Do they eat with you at the dinner table or should I set up their own kitchen and dinner table for them to cook for themselves? + +And besides the lack of privacy, are there any other downsides you have experienced? +Hello all, + +I would be interested in your experience and opinions on Alternative Investments. I'm currently looking for ways to diversify my portfolio and have been looking at Venture Capital, Private Equity and Collectibles. + +Have any of you invested in Alternative Assets before? And if so, in which ones and with which companies? How do you guys see the current market in terms of PE, Venture Capital and Collectibles? +4 weeks away from exiting a business I co-founded. Whew. + +I'm in my late 40s...net worth around $13MM (not including housing)...I'm excited and nervous. + +I've read books about making this transition. I've convinced myself that it's not foolish to walk away from big earning potential. I've gotten comfortable that I have enough in the bank. + +I've even got a plan for a "light" career in my next chapter...even if I don't really know how to execute on that plan. + +Despite all of that, I'm pretty anxious. Building a business over the past decade+ has left me with a lack of balance in terms of friends and hobbies. I spend so much time thinking about and talking about the business in my personal life, that it's hard to wrap my head around the size of the empty space that I'm going to be creating when I leave. + +Wondering if others have experiences to share. Particularly interested in those that had some challenges making the transition...or those that THOUGHT they would. +I just watched [this video] (https://www.youtube.com/watch?v=yVzAC7mLxJw&feature=youtu.be) in /r/videos. A man on the subway buys a flower lady's flowers and asks her to give them out. It was $140 which makes no difference to most of us but huge difference to others... + +I want to do more of this but I'm too shy -- need to get over that. Anyway, wanted to share here. +My sibling and I inherited a $20M residential property a number of years ago which we will likely sell for $30M sometime over the coming year or two. + +We are looking for guidance on how best to invest the ~$30M proceeds from the sale to maximize income generation. We both have lucrative full-time careers, but are looking to RE in a HCOL area, so are primarily looking for something more passive and predictable. + +We'll likely be looking to use a 1031 exchange to avoid taxes on the $10M cap gain, but are unsure if it makes sense to roll everything into another real estate investment (multifamily apartment building? multiple town houses or condos? high-end managed vacation rentals? commercial real estate?) or just keep the $10M in some form of real estate and invest the rest in the market. + +Thanks in advance for your thoughts! + +Edit: The helpful folks here have educated me that 1031 would require re-investing the entire sale (not just the gain), so given this I think cashing out to divest and paying the tax is the right move. +What are actual fundamental solid projects you are buying? +I prefer L1 chains with a good offer of NFT's, Farming pools and some L2 tokens... + +The last one I bought in this dip was $NEAR +It was down more then 50% from it's former ATH two weeks ago. I'm expecting another 10-18% from here where I will load up more +I saw a lot of comments on other posts clearly confused about what u/ControlTheNarrative (hereafter CTN) did to bilk RH out of $50k, so I thought I’d write up a little non-stock/options explanation. This is how he could have done it brick-and-mortar style. + +CTN goes into his bank and asks for a personal loan. He only has $2k in cash to show he’s good for it but when the banker sees he’s wearing a helmet he assumes that he is safety conscious and writes him a $2k loan, i.e. 2:1 leverage. + +CTN now has $4k in cash. + +Being a savvy investor, CTN uses the $4k to buy a purebred kitten from a local breeder. On Craigslist he finds a cat lady willing to pay him $3k today in exchange for getting the kitten next year. + +CTN goes back into the bank and asks for another loan. “Weren’t you just here getting a $2k loan?” the banker asks. CTN self-soothes by rocking in his chair and mumbles “Now I have $3k in cash and a $4k cat, so after considering my $2k debt I have $5k of assets. Can I get a loan for $5k?” The banker shrugs, ignores an incoming call from the SEC, and writes the loan. “A $5k loan for $5k in assets is 2:1 leverage”, he thinks, “this seems fine.” + +CTN now has $8k in cash and a $4k cat (promised to the cat lady). + +CTN heads to a puppy mill and picks out a purebred pit bull for $8k. On the dark web he finds a guy willing to pay $7.5k today in exchange for the dog when it’s full grown. + +CTN goes back to the bank again. The banker barely looks up from a thick line of white lightning and asks “Another loan? You owe $7k now you know.” CTN says “Well I have $7.5k in cash plus this $4k cat and this $8k dog, so after considering my $7k debt I have $12.5k of assets. Can I get a loan for $12.5k? It’s only 2:1 leverage.” The banker is too blitzed to do math so he rips off a check. + +CTN now has $20k in cash, a $4k cat (promised to the cat lady), and an $8k dog (promised to Michael Vick). + +Next he goes to the local stables. After watching horses mount each other for a while, he buys a thoroughbred foal for $20k. At Bible study that night he meets someone willing to pay him $19k for breeding rights to the horse as an adult. + +Back to the bank goes our hero. The banker is getting a little worried now and tells CTN that he owes $19.5k. Let’s say there’s also $500 in interest to make it an even $20k owed. + +CTN reassures him he knows what he’s doing by showing his WSB post history. “I have $19k in cash, a $4k cat, an $8k dog, and a $20k horse. After considering my $20k debt I have $31k of assets. How about a loan for $31k?” The banker shrugs - it’s just 2:1 leverage - and writes the loan. + +CTN now has $50k in cash, a $4k cat (promised to the cat lady), an $8k dog (promised to Michael Vick), and a $20k horse (promised to Mr. Hands). + +That night the banker reflects on the enigma that is CTN. It suddenly hits him that the cat, the dog, and the horse are not collateral that the bank can repossess to offset any losses CTN might incur, because they are contractually guaranteed to other people. The bank has given CTN a $50k margin account for only $2k in collateral, or 25:1 leverage! Whoops! + +“Fuck it” he thinks. “I’m sure he’ll just put the cash in a safe investment that we can sell to close everything out. I’ll call him tomorrow.” + +Meanwhile CTN takes his $50k cash to the casino, shrieks “YOLO!” and throws it all on black. + +**”GUH”** +NOTE TO THE PRESS: The Bitcoin Foundation does not represent Bitcoin in any way. It has historically hired some Bitcoin developers, lobbyists and organized a conference. + +Dear Members, + +I was elected on a platform of transparency and decentralization of core development. Since the beginning, the Foundation has been sorely lacking any transparency of its actions. I can no longer in good conscience hide the truth on what I have witnessed in the Bitcoin Foundation since I was elected last month. + +First of all, the Bitcoin Foundation is effectively bankrupt. As a result of 2 years of ridiculous spending and poorly thought out decisions, they almost ran out of money in November of last year. In extremis, but way too late, they decided to select a new executive director during that time. That new director decided that the only way to still get funds at that point, was to focus solely on funding core development, in the hope that people would see that as a good cause. But people were smart enough not to trust the Foundation anymore. Despite it’s intentions, they failed to collect the necessary funds to support this idea. With the election in February-March, it became clear that people did not want the Foundation meddling with core development. The truth is that the Foundation’s plan was to hire even more core devs + to start a Bitcoin Standards Body. No organization should have this much control over Bitcoin, and a disaster was avoided. + +When I joined on my first Board meeting, Jim Harper and myself immediately put forward a vote to have the board meeting recorded. We followed Robert’s rules of orders, and everyone else basically shut us down and failed to follow procedures. There were “more urgent” things to discuss (as you will see later, the urgent pattern was an excuse to just continue on their course and shut us up). It was critical for us to vote on a plan that would save the Foundation. When I mentioned that such a critical vote is all the more reason to make sure the whole meeting gets recorded, I was ignored. The Bitcoin Foundation hates transparency. If they would have been transparent then everyone would know there is no money left. Something I think the members have a right to know, wouldn’t you think? Members have a right to know that the current board failed to tell them the truth, and that their way of running the organization resulted in it going bankrupt. But instead of taking responsibility, they want to find the next executive director, that will come up with another magic plan. Ironically, being transparent from the start might have prevented this whole thing to begin with. + +Everyone has the right to know the truth: + +- The Foundation has almost no money left, and just fired 90% of its people. Some will stay on as volunteers. +- Core dev can no longer be funded by it, and Patrick Murck is trying to re-create a new Foundation just for core dev, because the current name is tarnished. Do not fall for this. +- The current Executive Director (Patrick Murck), will be gone in 2 weeks, and they are trying to find the next person to blame everything on. +- Jim Harper was threatened for doing a press release which was (barely) critical of the Foundation after he got elected. The Foundation tries to make sure we hide the truth by subtly threatening us on a regular basis. +- If I get asked to leave the Foundation for telling the truth, so be it. The truth is being told. + +Moving forward: + +- A special trust fund is being created and I will donate several 100k to pre-pay Gavin’s, Wladimirs and some other core devs wage for the next year (if they choose to accept). The control of this trust fund will be handed over to the core devs, who can decide who can join it. Alternatively, we can give voting power to everyone who puts money in it (pro-rata). I will also organize crowdfunds and help make this fund public. At no point do I want to have any control whatsoever. + +- It is up to the members of the Bitcoin Foundation to decide what they want to do now. The bylaws allow for a special board meeting to be called by 15% of members. I would recommend you to do so and ask for all information to be released so you can learn the truth. Additionally I would recommend for you to replace the whole board if you want this organization to last. Alternatively you can vote to shut it down and get your money back. There might not be enough money left in the Foundation to pay its members back, but I will personally try to help make up the difference, even though I have not been part of it. + +The lesson for all of us in Bitcoin is to never put any trust in a centralized org again that wanted to represent Bitcoin or the Core Development of Bitcoin. + +Note: I totally expect the current Board members to try to place blame on me for whatever reason. They are very bad at taking personal responsibility. I have had several threats, but I'm releasing this anyway. + +Olivier + +Link to Bitcoin forum post: https://bitcoinfoundation.org/forum/index.php?/topic/1284-the-truth-about-the-bitcoin-foundation/ +Welcome to the Daily General Discussion thread of /r/EthTrader. + +*** + +Thread guidelines: + +- Please refrain from discussing non-Ethereum related tokens here. You are welcome to discuss altcoins in the Daily Altcoin Discussion thread. +- All [sub rules](https://www.reddit.com/r/ethtrader/about/rules/) apply here so please be familiar with them. + +*** + + Resources and other information: + +* Find the latest Altcoin Discussion thread in [this search listing](https://www.reddit.com/r/ethtrader/search?q=author%3Aautomoderator+title%3Aaltcoin&include_over_18=on&sort=new&t=all). + +* Newcomers who have basic questions about Ethereum can find answers by visiting /r/EthereumNoobies or our Ethereum Education wiki page, [see here](https://www.reddit.com/r/ethtrader/wiki/education). + +* To view live streaming comments for this thread, [click here](https://reddit-stream.com/comments/auto). Account permissions are required to post comments through Reddit-Stream.com. + +*** + +Enjoy! + +Bitcoin enthusiasts have been saying for years it won’t ever happen, and they have had good reasoning behind that too. All coins seem to work in tandem with Bitcoin so why would one of them take over Bitcoin? + +With the crab market we’ve seen from Bitcoin for the last day or so, whilst Ethereum soars is an indicator that Ethereum may finally be moving independently from its big daddy(although it’s too early to tell whether this will continue). + +**The flippening may be starting today.** + +I’ve long positions in both Bitcoin and Ether, but markets in the next week may make me dump my Bitcoin for good in favour of Ether. + +What do you guys think? +**Edit:** +Ex-mod u/Chared945's has spoken up about [his forced removal](https://www.reddit.com/r/Superstonk/comments/ygu9wi/comment/iub680s/?utm_source=share&utm_medium=web2x&context=3) +Ex-mod u/jsmar18's comment about [the gaslighting situation](https://www.reddit.com/r/Superstonk/comments/ygu9wi/comment/iubn81e/?utm_source=share&utm_medium=web2x&context=3) within the mod team and [his resignation letter](https://www.reddit.com/user/jsmar18/comments/yfn4bw/superstonk_resignation/) from the team. + +Evidence for the internal issues of the mod team can be found on the latest post of u/Gentaro's user profile. + +**TLDR:** I personally experienced and witnessed workplace bullying within the mod team where people were suffering for months and became extremely distressed and then forced out of the mod team. I called it out and also tried repeatedly to ask for accountability but the mod team didn't want to admit their mistakes and kept doubling down on their denial and deflections. I realised that there are serious moral, ideological and cultural differences between me and the team so I left. + +\------------------ + +I was on-boarded as a Superstonk mod on the 30th April. My mod permissions were removed on 17th August and I left the mod team officially on the 8th of October. + +Ever since I spoke up in the comments on [Gentaro’s post](https://www.reddit.com/r/Superstonk/comments/yau97d/transparency_in_the_sub_v2/), I saw that many members of the community are concerned about what’s happened with the mod team and with my situation. I waited a week to see if the mod team would walk the talk about providing transparency to the community but they’ve disappointed us yet again. Instead, I’ve seen genuinely good, caring apes get silenced or roasted in the comments just because they cared enough to want the mod team of the biggest GME community online to provide transparency instead of legitimate concerns being swept under the rug. + +And since the current mods have repeatedly insisted that they’re [not stopping ex-mods from speaking out](https://www.reddit.com/r/Superstonk/comments/yc7mb3/comment/itknnb0/?utm_source=share&utm_medium=web2x&context=3) and there’s [no NDA imposed](https://www.reddit.com/r/Superstonk/comments/ya3ia3/comment/itae7ms/?utm_source=share&utm_medium=web2x&context=3) on us despite immediately permabanning me for leaving the mod team, l will share my side of the story here. + +# My full story + +I was bullied out of my position as a mod without anything approaching a reasonable process and in my case, the only “offence” I’ve committed was respectful disagreement. I found the Superstonk sub rules to be inconsistent and enforced arbitrarily early on because this made it difficult for me to do my job as a new mod who’s still learning. And because I was worried about the sub, I voiced my concerns and opinions regarding the inconsistencies and internal processes of the mod team whenever they arose. + +My main concern being, it is very difficult to do any proper moderation without clear, well-defined rules. When I started as a new mod, the sub rules were way more vague than it is typical on Reddit (e.g. No Improper Content). This is worrying to me, given that there were constant problems with inconsistent moderation and it'll look like the moderators are either biased or not doing their jobs enforcing the rules. It also leads to inefficiencies (as happened with the DRSGME’s fundraiser website situation). I've tried to express this openly with the mod team early on but nobody paid any attention to what I said perhaps because I was new. So I approached various senior mods in the team about my concerns only to be flat-out ignored by them time and time again. + +An admin mod did eventually get back to me after six weeks, and they responded to my feedback about the mod team processes with “if you’re really so unhappy, maybe you shouldn’t be modding this sub”. Whether I was right or wrong about the mod team's problems, the fact that an admin immediately responded to respectful feedback in such a dismissive way clearly demonstrates that the people in charge are not interested in considering different ideas in the first place. + +I was later told by another admin mod that some people in the team have raised concerns to them about the way I “express discontent” but since it’s not a “pattern of behaviour'' they observed, they invited me to have a “chat” about improving team communication instead. I then expressed that I do actually have my own concerns to talk about but I needed time to prepare for it and since I was also dealing with personal issues at that time, I was in no capacity to address this immediately. But I’ve tried my best to always be in communication with the admin mods and update them about where I’m at until the 17th of August when they suddenly, without prior warning, removed me as a mod from the sub and forced me into the #hiatus channel of their Discord server where I was isolated from all mod team discussions. After I was forcibly ejected, the admin mod tried to justify it as me “failing to meet my deadline” and “unresponsive to requests for a mediation to address interpersonal conflicts”. + +I was completely blindsided. For perspective, please realise that after I was on-boarded, we went three months without having a single mod meeting (which was supposed to happen every two weeks) so the idea that there was a hard deadline was surprising to me given how it was never clearly communicated and the general lack of a consistent schedule or communication made the actions of the mod team that much more confusing to me. + +I tried to appeal this to the admin mods and explained how I was never communicated any hard deadline, nothing was ever formalised, I had no idea at all I had any interpersonal conflicts so serious that required a full-on mediation and that at no point I was ever warned that my modship was in jeopardy. Again, I was ignored by everyone I reached out to. + +Unfortunately I’m not the first mod to be removed suddenly for vague criticisms like “we don’t like how you communicate and disagree” or “we feel that trust has been broken” despite no actual bad acting, with knee-jerk reactions and abuse of power. + +The workplace bullying I’ve personally experienced and witnessed happened to others in the team disturbed me greatly. What I can share is that I’m not the only ex-mod who was forced into hiatus, and the mod team’s poorly managed mediation process had failed badly for them. These ex-mods were very distressed by their whole ordeal and it was terrible to see how much they’ve been affected by it. + +On the 27th of Sept, the admin mods got back to me about my own situation after the two ex-mods were removed (within two weeks of each other) and tried to force me into a so-called mediation which didn’t sound like a mediation to me so I questioned them about it, and then they acknowledged it was actually a “tribunal” and an ultimatum, where I would need to “win over members of the mod team as a whole” because a quorum was needed in order for me to be let back into the team. They also said that I will need to earn my privileges back into the team and must prove to them that I’m “consistently demonstrating the ability to discuss things in a productive way and exercising sound judgement”, only then may I be restored to the lowest rank junior mod where I can only post removal messages and sticky comments to the sub. They emphasised many times that this was a non-negotiable for me. + +But there was no way I was subjecting myself to such a disingenuous tribunal and be judged by the whole team because of the failures of the mod team processes and poor management. I called repeatedly for the admin mods to take accountability for the broken processes which led to my situation, and the (imo) unjust removal of the two ex-mods. Instead, they kept doubling down on refusing to acknowledge or take accountability like SHFs who made a bad bet, and continued to paint me as an unreasonable person who was combative, rocking the boat, creating a hostile environment within the team and being difficult to work with. + +Their reasons for my tribunal also read like a haphazard collection of minor incidents that were only dug up after-the-fact and taken out of context, or straight-up unfounded accusations to justify my removal as a mod for reasons listed [here](https://imgur.com/a/HkSFd4x). + +I also found out later that they had created an entire Discord channel that I wasn't privy to specifically to discuss about me in a Them vs Me dynamic. + +At this point, I’ve been isolated, humiliated, gaslighted and continuously made to feel invisible and unheard for months. This bullying has affected me alot emotionally and mentally because they made me feel like I deserved to be treated this way and it took a toll on my health. While I’m not without fault and have told them that I own my part of the problem, it was concerning to me that the admin mods refused to take any accountability for their mistakes and poor management while the other mods in the team seemed content to just take whatever the admin mods say at face value and kept making excuses for them despite also having witnessed all that has happened right in front of them. + +More than that, it was extremely disturbing to me that these people found it so difficult or even offensive to just do the right thing and extend kindness, understanding and compassion to mine and the other ex-mods’ situations because we’re still humans behind the keyboard. + +I realised that the mod team and I have serious moral, ideological and cultural differences and I simply could not work in a team like this. I wrote a respectful but honest leaving message, dropped it in the mod team server and left the server on the 8th of Oct. Almost immediately after, I got notification that I was permabanned from Superstonk when I didn’t do anything at all to justify it. I was informed later that I was unbanned but unlike publicly stated, the admin mods were absolutely adamant about keeping the ban because I might start “drama” and had to be convinced by the others to reverse this knee-jerk reaction. Some of the mods who reached out to me before in the pretext of friendship just stopped replying to me when I asked for help about my permaban. I was then made aware that the admin mods had told everyone on the mod team not to engage with me in DMs and ignore me (a couple of good ones didn’t care and continued talking to me anyway). Jsmar18 left the team shortly after ([his resignation statement](https://www.reddit.com/user/jsmar18/comments/yfn4bw/superstonk_resignation/)). + +The admin mods like to pretend that the mod team is some Fortune 100 company and always used a lot of corporate language and weird corpo behaviours which never sat right with me, especially when the internal processes are so broken in reality. It also worries me to see how recent events over the last few days have shown that the mod team is STILL refusing to provide transparency, banning people for petty reasons, manually approve [low karma accounts like Ellajax741](https://imgur.com/a/65fekMK) who commented just to attack me, removing posts and actively deflect efforts in the comments that were calling for transparency as being [focused on mod drama](https://www.reddit.com/r/Superstonk/comments/ydeqgv/comment/itrr371/?utm_source=share&utm_medium=web2x&context=3) and “[cringy](https://www.reddit.com/r/Superstonk/comments/ydeqgv/comment/itsdep6/?utm_source=share&utm_medium=web2x&context=3)”. + +I don’t enjoy being in the spotlight. I was also not the type of mod who will show my face or advertise the fact that I'm a Superstonk mod on Twitter. And I most certainly don’t want to risk myself getting doxxed and harassed online. All I wanted to do was to lay low, do my job as a volunteer janitor of the sub and focus my efforts on helping the community as best as I can. But I’m speaking up now because I feel that the community deserves to know my account of what happened that 4 mods were removed in 3 weeks. + +I'm grateful to the members of the community who voiced their opinions openly and subjected themselves to deflections, gaslighting and got downvoted into oblivion because they questioned the authority of the mod team and called for transparency, truth and accountability to the community. The fact that good apes are being treated like this is disgraceful. I’ve had many kind and supportive apes DM me, some of whom I’ve helped while I was a mod, others I’ve never spoken to before, especially after I spoke up on Gentaro’s post. These apes gave me the strength to share my full story after I felt so sad and defeated because I thought that the community doesn’t care about the problems of the current mod team. This has very real world consequences and it's so important for us to be able to discern what's actual FUD and what's worth caring about. I don’t know what’s going to happen now but apes together strong. Feel free to ask me any questions in the comments. + +Thank you all for reading my story. +I have been trading options for a few years. Made some money. Made a lot of money on stupid positions that I didn’t even fully understand. Lost some money. Lost a lot of money repeating the same stupid mistake. But most of all I have paid a stupid amount of money in taxes. In my opinion this is the biggest flaw in investing. If you win you pay. That being said I have decided to start my own church. This is the loop hole no one is talking about. Not only do you get free money from your members but you then you don’t have to pay taxes when you make money with THEIR money! It’s the perfect strategy. If you lose? It’s their money! As far they are concerned it is already gone. If you win? You keep ALL the money. Literally can’t go tits up. + +Edit: typos. Got too excited about my new venture. + +Edit 2: A lot of you are missing the point. We LIKE the Mormons. They have given us a perfect model for unlimited tendies. Take notes. +It seems like if the population is unhealthy and dies of smoking, drinking and obesity related issues in their 60's, that seems costly, but if they live healthily, they will still have cancer or heart disease in their 80s and 90s, plus society will have to support them through their retirement years. + +I guess the question is, does getting the populace to stop smoking and over eating really save society money? +Several working class young people I know are working 2 jobs. Most people they know are doing the same. Yet we are not seeing this in the data. What gives? Why is the empirical research not lining up with my experience. +Last March it was T.P. and other products, now on the East Coast it's gasoline, for a long time friends tell me .22 ammo is poorly stocked... Whenever there is a product shortage the free market solution is to raise price to the point that demand drops sufficiently. + +I heard it said that in the Communist USSR the people had enough money but the store shelves were empty and that in Capitalist USA the stores are stocked with everything possible but people lack the money to buy it. +I've been reading about Marx's critiques of Capitalism, but I'm unclear on what an alternative model that would allow for population growth. Is there any proposed model for a non-growth oriented financial system? +From a separate comment thread regarding why Austrian Theory is not discussed by serious economists... + +“I mention it because it [fundamnetals of Austrian Economic Theory] appears completely logical to a layperson. And respectfully, so far your objection to it has been based in fallacious appeal (to authority/populism. Remember the paper widely circulated that was totally fabricated and praised as it aligned with current popular ideology? Looking for link...). + +Can you help me understand why (in the ELI5 version) “serious economists” don’t care about Austrian E. theory? Let me clarify some... + +As I understand the/one fundamental difference from the monetarists in the Chicago school vs. Austrian is allowing the government to fluctuate the money supply. + +From a laypersons perspective the Austrian position appears to hold water, to remove political/psychological influence from a currency supply by tying it to a commodity in order to anchor it’s fluctuations. Obviously this has historically been done through precious metals, also obviously not without reason (limited degradation, universal acceptance, etc.). Allowing deflationary forces to act on markets is not all bad for all participants, etc. + +Edit: As for the behavioral components (prax’ vs. ?), I’m not as familiar with the contentions. My cursory understanding is that empirical behavioral study doesn’t capture events that haven’t happened, therefore a priori methods are needed.” + +Can someone help me understand the reasoning for these economic fundamentals (associated with the Austrians) being left by the wayside and not worthy of “serious” discussion? + +Thanks +What would be the expected effects of a monspony and monopoly in the same market? Is it accurate to just “combine” the effects of each and conclude that quantity will be lower than the ideal level while the price level is indeterminate? +In a recent posts alot of people here said economists no longer think in terms of "chicago school", "austrian school", etc. + +When did this shift away from schools happen? +Considering this would raise the amount of goods and services available, both directly (I build a bridge) and indirectly (we spend on schools, which educate the population, which increases their human capital), is there an economic reason I shouldn't do this? Is it purely a political phenomenon? +[https://en.wikisource.org/wiki/Principles\_of\_Political\_Economy\_(J.S.\_Mill,\_1871),\_vol.\_1/Book\_III,\_Chapter\_VI](https://en.wikisource.org/wiki/Principles_of_Political_Economy_(J.S._Mill,_1871),_vol._1/Book_III,_Chapter_VI) + +I'm reading it and it looks like he divides the value in two: the market value, which is determined by supply and demand, and the natural value, which is determined by the cost. I don't know if I understood it properly. + +I ask it because I was told that economists rejected the LTV only as a reaction to Marx's work, but it looks like the LTV actually only existed for a brief time. +I have researched quite a bit about Milton Friedman's theories when it came to how a government should function in a free market and I completely agree with his libertarian point of view. A while ago In class, I mentioned his name as an example for a question and instantly got bombarded by classmates and the teacher claiming he was a terrible economist that caused problems to the US economy when his work was put to practice. + +***How is it possible that a man praised soo much for his work for the field of economics, receiving many awards for said work, be ineffective in practice?*** +This isnt a specific problem, but what appears to be me struggling to understand where my teacher? or economics? is coming from with basic Sophmore level macro/micro economics classes. + +I hear things like + +Example A: "Reducing unemployment compensation from 26weeks to 20 weeks would help reduce unemployment" + +I ask "is there any data, stats, info to back this up" + +the answer "something about incentives". I dont know how unemployment works in other states, but in my state for example. I was making 20/hour. Got axed, unemployment maxed out at 5/hour. Im not exactly sure where 5/h is an incentive to not look for work within 26 weeks; but that same 5/hr is magically an incentive to look for work within 20 weeks... + +Or, + +Example B: im told costs rise after hurricanes. when i hear this, they most of the time never seem to clarify, when questioned I dont think they are trying to say gouging is useful, but they wont say what qualifies as "usual day to day market fluctuations vs fluctuations in response to a disaster" + +http://www.macrotrends.net/2516/wti-crude-oil-prices-10-year-daily-chart for example. Crude dropped pretty significantly between june 2014 to December 2014, to the toon of about a 50% drop. That is HUGE. but look at June 2017 to august 2017, and then look at august being Hurricane Harvey.. + +If you told me, it went an extra 3% beyond usual fluctuations, i could buy that but what i seem to be getting is the price per gallon jumping 300% is NECESSITATED. Especially since we are talking about everything from a MACRO level. + +Example C: Law of Demand/SUpply. It seems my book is full of contrived examples, but maybe im overly strict with the meaning of "Law" but im not provided with any sort of charts taht are based on actual data, its all stuff they seem to make up.. http://www.investopedia.com/terms/l/lawofdemand.asp "John MIGHT buy less if price rises" Might? MIGHT buy more or less? + + +Im actually doing very well in Macro-Economics, but i feel its because i have to willfully suspend my desire for proof. If you have any insight into the particular situations mentioned, or can see where my thought process is and help me better understand economic thinking as a whole I would be very appreciative. Maybe my issue stems from the assumptions? or maybe - as usual- im just over thinking. +My family has about $1 million in property in turkey. the Lira has been crashing and I know it will lose 30% of its value every year for the next decade of longer. What will likely happen if there is Venezuela-type collapse of the currency. Will the real estate become worthless or will there be some sort of floor based on the intrinsic value of the homes. If the lira goes to 100-1 against the dollar then in theory you could buy homes for $1000 which seems absurd + + +Poli sci student here. + +I do not understand how it works. + +Conceptually to me, you have a limited amount of money in a system, and it's weird to think about buying something that doesn't generate money for yourself. + +I'm not sure how to explain what I'm thinking. If there's a constant quantity of money in circulation.. well.. basically, how do you.. make.. money...? and accumulate wealth? + +I can't comprehend how you are paid enough money to accrue wealth over time. If EVERYONE is accruing that... how would the economy not just become meaningless? +Now logically not everything works as planned right away.. but theoretically it could. + +There are many mathematical tasks that would be completely unneccessary if the way in which we create bills, reports, breakdowns etc. was standardized. + +This way systems could analyze what would be missing and for example make it unneccessary to deploy the yearly bank report, because a direct connection via customers can analyze differences and offers "security" on top. +-Jpow talking about cyber attacks +-NFT FUD +-Reverse repos ATH +-Student loans not being forgiven +-Evergrandes billionth bankruptcy +-Hedge funds getting REKT +-DOJ investigations +-Crypto tanking +-Insider trading not being addressed +-Swap disclosures + +None of this is financial advice. I needed to vent. + +It’s a lot slower when you’re going through it but you’re definitely going through it. + +I should feel jacked. I should feel like a victor. But the truth is, I’m not fucking dancing. + +The house of cards has started to topple. + +I’m still waiting for the real dip but when the shorts are trying to offload those rehypothecated shares, desperately searching for real ones, I’ll be gobbling them up. + +I’ve DRS’d my entire portfolio. Everything. + +I’ll be buying through the dip until I can’t buy anymore and calmly enjoying the ride. I’ve waited long enough. + +This is it. Don’t get scared now. 🚀 +#GameStop Reports Fourth Quarter and Fiscal Year 2021 Results + +#Announces Intended Launch of NFT Marketplace by Close of Q2 FY22 + +#[Link to earnings report](https://gamestop.gcs-web.com/news-releases/news-release-details/gamestop-reports-fourth-quarter-and-fiscal-year-2021-results) + + +--- + +Tons of attention on today's GameStop earnings. Many are saying not to expect any announcements and focus on financials (lookin at you u/RamseyTheGoat) while others are jacked to the tits about IMX partnership news and updates DRS numbers. + + We'll also have a Reddit Talk group listen to earnings, starting at 4:45 EST! + +#Throwback Thursday to last year's [GameStop Q4 Earnings Megathread](https://www.reddit.com/r/wallstreetbets/comments/mblb7f/gamestop_q4_earnings_megathread/) + +Previous filings here: https://gamestop.gcs-web.com/ +Guten Tag to this global band of Apes! 👋🦍 + +What an earnings report! GameStop is clearly growing remarkably, both in its sales velocity but also its hiring and development of the future of the business. When I look at the year-over-year numbers, I see a company that is stronger than ever. The amount of cash in the bank continues to be enormous - $1b can go a long way toward pioneering a new industry. And that's not even the number that stands out the most! + +5.2 million shares have been DRSed by retail traders as of October 30th. Can you believe that? And of course, that doesn't even include the enormous spike of DRS activity of the past few weeks. I am stunned by these numbers - the DRS bot is great, but sometimes I feel like the totals it reports aren't enough... The numbers reported yesterday take away all of my concerns. Apes are DRSing at a fantastic rate, and every share that lands in ComputerShare is another closer to the goal of locking the float. This was the first time *ever* reporting this number - clearly they want us to know, and they want us to be able to see the quarterly growth from here on out. + +Apes, if you ever had any doubt that DRS was the way, I hope this report has set you free from that doubt. The SHFs are losing, and are going to do a desperate price attack today to once again try to spin the narrative that earnings were weak. It's a great time to buy and DRS the dip. + +Today is Thursday, December 9th, and you know what that means! Join other apes around the world to watch infrequent updates from the German markets! + +###🚀 Buckle Up! 🚀 +*** + + +- 🟥 120 minutes in: **$168.78 / 149,38 €** *(volume: 5287)* +- 🟥 115 minutes in: $169.20 / 149,75 € *(volume: 5256)* +- 🟩 110 minutes in: $169.22 / 149,76 € *(volume: 5227)* +- 🟥 105 minutes in: $169.17 / 149,73 € *(volume: 5013)* +- 🟩 100 minutes in: $169.24 / 149,79 € *(volume: 4974)* +- 🟥 95 minutes in: $169.20 / 149,75 € *(volume: 4965)* +- ⬜ 90 minutes in: $169.57 / 150,07 € *(volume: 4392)* +- ⬜ 85 minutes in: $169.57 / 150,07 € *(volume: 4259)* +- 🟩 80 minutes in: $169.57 / 150,07 € *(volume: 4254)* +- 🟥 75 minutes in: $169.29 / 149,82 € *(volume: 4171)* +- ⬜ 70 minutes in: $169.89 / 150,36 € *(volume: 3970)* +- 🟩 65 minutes in: $169.89 / 150,36 € *(volume: 3937)* +- 🟥 60 minutes in: $169.24 / 149,79 € *(volume: 3422)* +- 🟩 55 minutes in: $169.61 / 150,11 € *(volume: 3196)* +- 🟥 50 minutes in: $169.53 / 150,04 € *(volume: 3178)* +- 🟥 45 minutes in: $169.56 / 150,06 € *(volume: 3136)* +- 🟩 40 minutes in: $169.91 / 150,38 € *(volume: 2341)* +- 🟥 35 minutes in: $169.89 / 150,36 € *(volume: 2117)* +- 🟥 30 minutes in: $169.91 / 150,38 € *(volume: 1989)* +- 🟥 25 minutes in: $169.92 / 150,39 € *(volume: 1953)* +- ⬜ 20 minutes in: $170.01 / 150,46 € *(volume: 1814)* +- 🟩 15 minutes in: $170.01 / 150,46 € *(volume: 1743)* +- ⬜ 10 minutes in: $169.94 / 150,40 € *(volume: 1364)* +- 🟥 5 minutes in: $169.94 / 150,40 € *(volume: 1117)* +- 🟥 0 minutes in: $170.08 / 150,53 € *(volume: 458)* +- 🟥 US close price: $173.65 / 153,69 € *($168.10 / 148,77 € after-hours)* + + +*** +FAQ: I'm capturing current price and volume data from German exchanges and converting to USD. Today's euro -> USD conversion ratio is 1.1299. I programmed a tool that assists me in fetching this data and updating the post. If you'd like to check current prices directly, you can check [Lang & Schwarz](https://www.ls-tc.de/de/aktie/gamestop-aktie) or [TradeGate](https://www.tradegate.de/orderbuch.php?isin=US36467W1099) + +Diamantenhände isn't simply a thread on Superstonk, it's a community that gathers daily to represent the many corners of this world who love this stock. Many thanks to the originator of the series, DerGurkenraspler, who we wish well. We all love seeing the energy that people represent their varied homelands. Show your flags, share some culture, and unite around GME! +There have been an increase of posts about a fake squeeze coming and hedgies setting up a trap to short the fuck out of the share price again to shake off the paperhands. I think this is more to encourage apes to sell on the cheap by letting them think that there is going to be a peak price to sell at, and there will be another opportunity to buy on the cheap again. + +There may not be another opportunity to buy the dip and all the current fud coming up is just to get apes to sell below life changing money. This is not financial advice but if citadel and co are out, dtcc and cede &co maybe conditioning our minds that there will be another peak and big dip afterwards to get more apes to sell. This will significantly reduce our rocket fuel to the moon! +Hi, + +I'm looking for European stocks or ETFs specifically for dividends. I use Degiro, so I can't buy a lot of the ETFs mentioned on this sub. Any ideas? +Tough times ahead for the housing market if all lenders match this type of overlay. + +https://www.reuters.com/article/us-jp-morgan-mortgages-credit-exclusive-idUSKCN21T0VU + +> From Tuesday, customers applying for a new mortgage will need a credit score of at least 700, and will be required to make a down payment equal to 20% of the home’s value. +My partner does not have a lot of knowledge/experience about managing finances, and any time I mention loans or investments she thinks it is extremely risky and basically like gambling. She is even opposed to index funds and mortgages. + +How can I explain to her that debt isn't always a bad thing, and that careful investments are actually **safer** than keeping money under your mattress? +As much as we love taking down hedge funds, we have to remember that the people who work at these funds don’t really lose much except for their jobs. Instead, it is the investors who have significant money in the funds. + +Based on Melvin Capital’s filings, some of the biggest investors in their fund were NYC government officials pension funds, which includes retirement accounts for teachers, janitors, and other regular people. Us monkeys are making a lot of money from GME and AMC but we should do it while making sure it’s only the hedge fund who are suffering, and not regular people. + +As a result, if you were one of these people who’s retirement account is at risk due to what happened with Melvin, comment below and generous monkeys can help you out. + +This is a war between the billionaire hedgies and commoner autists like us, and we should make sure that everyday people don’t become casualties. When hedge funds make money at the expense of others, they buy a new yatch. When WSB makes money by killing hedge funds, we give it back to the needy. Let’s make sure that rhetoric sticks. + +Peace out autists and keep on holding 🙌💎 +It’s easy to get caught up in the “buying crypto is investing in your future” mindset that’s often repeated here and convince yourself that you’re making wise financial decisions with any crypto purchase you make. + +I come from a family of gambling addicts and I’m very aware of the tricks they play, often on themselves, to convince themselves or others that they’re not actually gambling. “This is my entertainment” is an often repeated excuse they tell themselves as they’re transferring money out of their bank a 2nd time. “I’ve put in so much time that statistically I’m bound to win at any moment” is another lie they tell themselves. These are all signs of gambling addiction and I see it everywhere here. Just because you’re buying crypto does not mean it’s not gambling. + +Please try to think objectively about what you’re doing and don’t let yourself lie to yourself. +https://www.nytimes.com/2018/03/30/health/unretirement-work-seniors.html + +Interesting article focusing on people who "unretire" for reasons other than financial. + +Reminded me of some of the conversations seen on this sub. + +Here's an excerpt: + +> Ms. King felt ready. She’d turned 66, her full Social Security retirement age. She’d invested fully in the hospital’s 401(k) plan and consulted with a financial adviser. She and her husband, who had already retired, had paid off the mortgage on their three-bedroom ranch. They took a week’s trip to Hilton Head, S.C., to celebrate their impending freedom. +> +> But her retirement lasted just three months. “I’d done all the preparation, except to really think about what life was going to be like,” Ms. King said. Days spent organizing recipes and photos, and lunching with friends, proved less engaging than expected. +> +> So when her handpicked replacement needed a maternity leave, Ms. King jumped at the chance to return for three months. Now back at work in a part-time position she designed for herself, she calls herself “a failed retiree.” +> +> Economists refer to this sort of U-turn as “unretirement.” (In “partial retirement,” another variant, an employee cuts back to part-time status but doesn’t actually leave the workplace.) +> +> Unretirement is becoming more common, researchers report. A 2010 analysis by Nicole Maestas, an economist at Harvard Medical School, found that more than a quarter of retirees later resumed working. A more recent survey, from RAND Corporation, the nonprofit research firm, published in 2017, found almost 40 percent of workers over 65 had previously, at some point, retired. +> +> “We definitely see evidence that retirement is fluid,” said Kathleen Mullen, a RAND senior economist and co-author of its American Working Conditions Survey. “There’s less of the traditional schedule: work to a certain age, retire, see the world. We see people lengthening their careers.” +> +> A Pew Research Center analysis of data from the Bureau of Labor Statistics supports that observation. It reported that the proportion of Americans over age 65 who were employed, full-time or part-time, had climbed steadily from 12.8 percent in 2000 to 18.8 percent in 2016. More than half were working full time. +> +> Even more people might resume working if they could find attractive options. “We asked people over 50 who weren’t working, or looking for a job, whether they’d return if the right opportunity came along,” Dr. Mullen said. “About half said yes.” +Hi everyone, + +I'm currently working at the ATO and I got a job offer from the Big4 and as a senior. Growth at the ATO has been pretty slow and I feel like my technical skills have not been tested or developed as quickly as my private peers. I think the Big4 will help me in terms of professional growth and open doors up in the future. + +However, I do have a young family and my partner has been accustomed to me finishing at 3-4pm to help with looking after the kids and house work. She has encouraged me to take the job, however, I don't think she grasps how difficult it will be. + +I have heard they squeeze every drop of soul from you while you're there; work life balance is non-existent. I would love to hear feedback from anyone with experience on moving from govt to big4 and whether they have found it worthwhile? +Its been almost 2 years and haven't found one yet. Ive been waiting and reading/studying for 5 years. Im super ready with everything set and just feeling frustrated. How long did it take you to find a place ? +I started 3 years ago and I'm currently feeling hesitant holding the SFH we currently rent out. It has been a bit of a money pit and I don't have enough experience to know whether to stick it out or to cut and run and to get the money out and put it into something else. If we stick it out itll be 5 years for us to break even and who knows what may happen in that time. I hope your stories will help me gain some perspective. Thanks! +So I'm about to take the leap and quit my 9-5 to trade full time. +I have a decent account, decent savings to live off for a while and a supportive partner. +I've taken weeks at a time off last year to trade and made decent returns 2/3 of those weeks and a minor loss 1/3. + +I'm sick of my current job with not much to do, but too much to trade while there. I trade after work but miss a lot of entries that I have to watch run. + +I'm going to go all in and see how I go full time for a few months and drive Uber or something in my down time if the market is slow for some extra cash. + +Please share your thoughts/experiences, anyone done this? How did it go? +I've been spending a while reading and watching a lot of YouTube videos about forex day trading and I've learned a lot, I find technical analysis very interesting and enjoyable, and my plan was to study up then use a demo account until I felt comfortable putting in real money. + +But the more time I spend doing this, the more disillusioned I feel. Everyone on YouTube is just pushing their own magical solution to being a profitable trader (which of course you have to pay hundreds for), and the more I read and research about forex market trading, and experiment making trades on a demo account, the more it seems like there's little point to it. Markets move so randomly how can anyone predict that, how can you come up with a consistently good enough strategy to not just be guessing all the time, and given the amount of educational bullshit on the Internet where do you even start coming up with such a strategy? +So today have received a letter through the post from Dwp outlining I have an outstanding debt owed to them. When I log into the online portal it says I owe due to a universal credit advance from September last year. I have never been in receipt of universal credit and earn too much for it to be available to me. + +To sort this is it as simple as calling on Monday morning and outlining the above or do I have to do anything more serious? How have they got this messed up in the first place? +So, no moon for ETH this week, but no bloodbath either... Feeling happy in a very odd way that ETH seems to be separating from BTC and doing it's own thing. I would like to think of it as preparing jet engines for the long Metropolis voyage ahead. Thoughts? +I realise that the banner on this subreddit can be bought with 'donuts'. It is therefore little more than another posted comment, with which some may agree, some disagree. But appearing as the banner gives the appearance at first glance that this is somehow an official stance of the subreddit. + +So I'd like to say 'not in my name' about the current banner I'm seeing. It reads: "WE DEMAND CONSTANTINOPLE. ANY FURTHER DELAY IS INEXCUSABLE. DO NOT MAKE PERFECT THE ENEMY OF GOOD!!" Yes, in caps (shouting). + +First, Ethereum devs don't owe you anything. You have no right to make demands. Being rude and shouting will get you nowhere fast. + +Second, I want Ethereum to remain safe. The last thing we all need is some rushed update with a bug no-one spotted that has catastrophic effects, possibly destroying Ethereum and all confidence in it. + +Third, if you are not happy about progress in Ethereum's development, then learn how to code, become a developer, and contribute to its development. +Previous two threads: + +https://www.reddit.com/r/personalfinance/comments/5ik7s6/bank_error_in_my_favor_collect_1500_butthe_bank/ + +https://www.reddit.com/r/personalfinance/comments/5x32j4/the_saga_continues_bank_error_in_my_favor_collect/ + +Synopsis: +Deposited $300 into ATM...it gave me money back but said I deposited it. I did it three times. Account now up $900. Through a series of comical events, the account got up to $1500. + +And now, for the final chapter of the saga! Unfortunately, it's very short and bland. + +I just got off the phone with my CU. They finally resolved the case and it's closed. They released the $900 hold and also took out the $900 that I shouldn't have. As a gift for being so patient and friendly with them they gave me $50 in my account. Yay? + +I asked about the letter we received, and he said that was for the original dispute where they accidentally put $900 extra into the account instead of taking it out and not for $300. Bah! + +Oh well, at least everything is right again with our account! + +**EDIT**: I guess it's safe to name the Credit Unions involved now since it's over... + +* My Credit Union: Navy Federal Credit Union +* Co-op ATM: Atlantic Financial Federal Credit Union + +I have nothing against either CU. They eventually worked it out and I'm happy that my account is back to normal. +Reading another thread and it got me thinking. + +I don’t really budget, per se. But, I guess I do have a natural understanding of my spending and I don’t have ridiculous tastes like a shopping addiction or getting table service at the club that would blow my income out the window. + +I used to track monthly spending for a bit, and I think it was more fun rather than necessity. But a lot of these budgeting apps are very finicky and assume everything happens on a monthly basis, so they end up in some ways just scolding for stuff you aren’t doing wrong. + +So, right now, I barely pay any attention at all to a budget and everything is hunky dory. Isn’t that supposed to be one of the benefits of being fatFIRE or on the path in the first place? I’d find it pretty annoying to be supposedly fatFIRE’d and yet sit there worrying about every bill that comes in. + +Wondering what you guys do. +Remember to do your research first kids. + +And don't trust information without double checking. Even my information. + +The OP of the post below forgot to do that. + +[https://np.reddit.com/r/CryptoCurrency/comments/vc1z3j/why\_are\_so\_many\_of\_you\_people\_hodling\_nomatter/](https://np.reddit.com/r/CryptoCurrency/comments/vc1z3j/why_are_so_many_of_you_people_hodling_nomatter/) + +Giving some inaccurate information, and some bad advice on timing the market. + +Nobody knows what's going to happen, so don't try to time the market, unless you're ready to gamble. + +It's a much more complex picture than OP was trying to paint. + +So don't pull out everything, or go all in on shorts. Pull out only what you're not comfortable having out there. + +But don't try to bet on the direction of the market. Instead strategize for multiple potential scenarios. + +# 1- OP is inaccurately describing how the Fed reduces its balance sheet. + +"The Fed is going to sell another $45 billion in assets in July, and another $45B in August. Then, they will increase the rate to $95 BILLION EVERY MONTH starting in September. + +That's simply not true. The Fed isn't doing a selloff, it's doing a runoff. It's simply gonna let part of its balance sheet runoff and let bonds reach maturity. + +They are doing that by simply not re-investing some of the bonds that come to maturity. + +Evidence: [https://www.federalreserve.gov/newsevents/pressreleases/monetary20220504b.htm](https://www.federalreserve.gov/newsevents/pressreleases/monetary20220504b.htm) + +[https://www.stlouisfed.org/open-vault/2022/may/how-will-fed-reduce-balance-sheet](https://www.stlouisfed.org/open-vault/2022/may/how-will-fed-reduce-balance-sheet) + +# 2- "The fed meeting is tomorrow and its going to be a .75 basis point hike". + +OP didn't provide any evidence on how he already knows this. The Fed haven't announced anything yet. + +Just because everyone expects it to be .75, doesn't mean it will be. + +In fact, since everyone seems to expect a .75, that would increase the likelihood that the selloff for the last few days, might be already pricing this in. + +# 3- Last time we starting having QT was in October 2017. + +This is back when Janet Yellen started to reduce the balance sheet by $650 Billion. + +Remember what happened to Crypto in October 2017, and the following couple months? + +I'm definitely not saying the same will happen. Conditions were different. And QT went on for several months, where Bitcoin started to dive again. I'm just saying QT alone isn't an automatic guarantee of anything for crypto. + +Things have to be put into context. + +But more importantly, policies on QT have changed since then. + +2017 didn't have the result expected, and they eventually had to pull to plug on their QT. + +This time around there's a couple of policies to safeguard from that happening, with some safety switches. Banks will be able to have liquidity when needed, and the New York Fed can setup unscheduled domestic repurchase agreements. + +# 4- OP claims that there is "An almost perfect correlation between crypto and the Nasdaq". + +That's not entirely accurate. + +While there has been a recent increase in correlation, it has never been a 1:1, nor near perfect, nor above 0.9 in statistical correlation to stocks. + +&#x200B; + +[In 2022 Nasdaq 100 correlation peaked at 0.7](https://preview.redd.it/r39d2rme3n591.jpg?width=1198&format=pjpg&auto=webp&s=2e15f051e0149f1058c1894b613da5162c73f58e) + +&#x200B; + +[0.75 correlation peak with the S&P 500](https://preview.redd.it/o1h7oqyh3n591.jpg?width=1830&format=pjpg&auto=webp&s=f5c002b076a4187494959afe807f65a686032d56) + +0.8 and above is generally considered "strong correlation". But we've only reached around 0.7 with stocks. At 0.5 you have a moderate correlation. + +A short term spike from around 0.5 to 0.7 isn't exactly an "almost perfect correlation". + +That's a little bit of an exaggeration. + +# 5-"And when both the stock market and the housing market get tumultuous, risk assest get sold first. That is what you are starting to see." + +A tumultuous housing market? + +It's been a fairly hot housing market, and the only thing still holding up. Or at least not at a 2008 or a housing market crisis level yet. + +It's been red hot for the last 2 years. + +Average house prices have vastly increased during that time, although slowed in the last quarter, reaching a historic high: [https://fred.stlouisfed.org/series/MSPUS](https://fred.stlouisfed.org/series/MSPUS) + +There are recent signs of sales slipping, and with the supply chain unclogging, inventories started to increase. So a correction could already be in the works. + +It might crash. Maybe next month. Maybe next decade. But we don't know that yet. + +Also, Bitcoin has been selling off since November of last year. When the stock market was still reaching new highs month after month. We already entered a bear market before stocks started to tank. + +We've seen mixed information about this. + +Earlier this year, on the day stocks dropped into correction, Bitcoin went up. + +&#x200B; + +[Bitcoin vs S&P 500 on the day stocks officially entered \\"correction\\"](https://preview.redd.it/3h13rb7d4n591.jpg?width=1335&format=pjpg&auto=webp&s=ce3d1fc4552473ed2512b7eb72173d9aaed73488) + +Then it went on to go in a mini bull run from $35K to $47K when the war broke out in Ukraine, while stocks were tanking. + +&#x200B; + +https://preview.redd.it/fvgi7g4k4n591.jpg?width=1330&format=pjpg&auto=webp&s=494db109a610bcbbe44abbbde21a5d0ce48e796b + +When Chinese markets tanked between the end of 2015 and the beginning of 2016, and the stock market in the US went into a little panic and dipped into correction, Bitcoin went from around $200 to around $400. + +On the other side of that, Bitcoin crashed with the rest of the world during the covid crash. + +So the correlation isn't always consistent or guaranteed. + +It's not a sure fire thing you can rely on. + +# 6- At the end of the day, the picture is more complicated than that. Never trust anyone who tells you things will definitely go worse, or definitely go better. + +No one really knows. + +Keep in mind, markets are based on emotions more than fundamentals. So they can always do something irrational. + +But the fundamentals aren't even that crystal clear. + +We are in a bear market, and stocks are heading into recession. + +But at the same time, we have conflicting data. + +We had negative GDP in the US, in big part because of the big jump in trade deficit. Which came from the after effects of covid restrictions, and supply chain clogs. + +But now the bottlenecks in the main US ports have dropped by nearly 40%. So it's not guaranteed that GDP will be negative again next quarter. + +Also, unemployment is at a historic low. And at the same time, 2022 had some of the highest wage increases in over 10 years. + +Consumer spending has been up 2.7% despite inflation. And even inflation adjusted, it's still up 0.7%. + +OPEC has started to increase its output, and is set to increase its output in July by another 400K barrels a day. Possibly more if they reach an agreement with the G7. + +That could help quell both inflation and supply chain problems. + +So the outlook is a little more complex. + +If it was a sure thing, we'd all be millionaires. +I've been slowly acquiring ETH from its fall from the high 400s. Everyone says "buy the dip" but has anyone actually been doing that? A lot of people get scared when they see the current price at $300, yet when ETH reached the high 1000s they regretted not buying at this price. My current buy ladder: + +$1000 at $425 + +$500 at $380 + +$1500 at $290 + +Half my purchases were from Coinbase (ETH takes a while to be received) and the other half was using my credit card on Bancor. + +What is everyone else up to? +**Reference**: *I've been talking to friends and family. They aren't too shaken...but a little surprised. They are all in it for the long haul anyway....so I just wrote them this reply. My best friend referenced the dot com bubble and the fact than many of those companies never got back to ATH and many dissipated.* + +=========================================================================================================== + + + +Yup. I agree *****. Add to that the panic sell pressure of the ICO's. That's really (in my view) adding to the immense pressure of the bear. ICO's were raising TONS of ETH and BTC over the last year. Bubble popped then rebounded to $800...from then the slide began and companies want to do everything they can to get working capital going or maintained. In hindsight....that was a missed opportunity on my part but I've been sitting on my hands pretty strongly due to my hacks and the fact (I believe) time is on my side anyway. + +As you all know, I'm in the thick of it 24/7 and I'm swimming in the Kool-Aid so bare with me. + +For Ethereum specifically, it's now coming down to 3 big things: + +1.**Widespread adoption** i.e. [Dapps](https://dappradar.com/), [mobile Dapps integration](https://www.htc.com/us/apps/cryptokitties/), over the counter fiat onramps ([gift/debit cards](https://www.coindesk.com/coinbase-launches-crypto-gift-card-service-in-europe/), money remittance like paypal but international, paying for coffee/gas/groceries less fees than Visa). Heck...even [Visa is looking for Blockchain engineers](https://www.indeed.com/m/viewjob?jk=b36f4dbb6b6140d5&from=serp). Institutional velocity across many sectors,[ asset tracking](https://www.coindesk.com/td-bank-considers-public-blockchain-for-asset-tracking/), [healthcare](https://hashedhealth.com/blockchain-healthcare-resources/), [agriculture](https://www.provenance.org/), [provable identity](https://www.uport.me/), [censorship free social networks](https://peepeth.com/welcome), and most importantly helpful in [poor and flourishing economies](https://un-blockchain.org/category/wfp/).. etcetera (tons of companies out there) + +2.**Scaling**. + +3.**Ease of use for all ages.** + +Get those things together within 2 years ( beginning 2021) and the foundation for Ethereum is set. Ethereum has 7 different teams in charge of scaling presently and an unprecedented amount community developers flocking to create software. But it''s groundbreaking work and many people are working on the blueprints as we speak on GitHub. + +Bitcoin: Big Mama. ...Bitcoin and all of crypto is nowhere near "household name" in terms of awareness, understanding and fundamentally less prone to ever change or do any of the 2 aforementioned points. Bitcoin doesn't need to. It does one thing extremely well and is the [most powerful computer network on earth](https://www.blockchain.com/en/charts/hash-rate) doing only one thing. Ethereum is around 1/7th as popular as Bitcoin from the looks of [Google Trends](https://trends.google.com/trends/explore?q=Ethereum,Bitcoin) in terms of overall searches. It's too expensive to use and will NEVER ever be capable of Smart Contracts like Ethereum or other smart contract platforms. It's a one trick horse...A very big Horse. + +The big difference between the dot com bubble and crypto is they are essentially two different things. One is a network of computers. The other is a network of computers using another network of computers to secure an algorithmically rare, immutable ledger with a coin as a reward with a predetermined, provable decline in issuance. The first was Bitcoin. + +Ethereum is every bit of that but it's actually a computer in and of itself running autonomous code called "smart contracts". + +It's just that right now Ethereum is a baby TRS-80 Tandy Computer from 1977 using a phone handset and audio tape to connect to the inter library system. Soon it will look like DOS in the 80's...and hopefully within 3 years. 10-15 years it will as ubiquitous as trading desks, AWS services, and all of social media combined. + +I say this as we become more and more a cashless and global society. + +I still maintain the real bubble hasn't arrived. We didn't even break[ $800B total marketcap in this last bubble across all of crypto. +](https://coinmarketcap.com/charts/) +One helluva run indeed. + +Although past performance doesn't necessarily guarantee future success, I still maintain if scaling works, pending no core protocol black swans, then I still target $10,000 ETH as a possibility sometime in the year 2020 or 2021. That puts Ethereum as a trillion dollar market cap by itself and by that time we will have [flipped Bitcoin](https://www.flippening.watch/) in terms of marketcap. We have more nodes and at times more than 4x transactions daily. [More jobs than ever](https://new.consensys.net/careers/) and they can't even find enough people. + +Lots going on. Incredible trading volume here at $263 and I couldn't be more excited really. But what a dark time pricewise! + +Take care everyone and Big Hugs from Kansas City + +Edit: thanks for the gold kind stranger! + +Edit 2: Added the links I had in the original letter. +Could anyone ELI5 these 4 for me? From the very little I'm understanding, these 4 things will be major advancement for eth. I'm tryna word these in a simple manner to be able to explain these to the family. +TLDR: unless the hedgies get us below $32.08 tomorrow our golden cross will be locked in. Even if they do, unless the get us below $7.28 then the 50 day SMA will still be higher than the 200 day SMA. + +Ok, so we all know that we had a golden cross on Tuesday. This happens when the 50 day moving average crosses above the 200 day moving average. Only two things can reverse it once it happens, either a large move downwards, or just waiting it out and steadily dropping the price. But there is a limit on how far down a stock can go (can't go negative), so eventually it turns into a waiting game while continuously suppressing the price to eventually get a death cross again. + +Now for the math + +a golden cross (or death cross) will happen when + +* Sum(200 days)/200=Sum(50 days/50) + +If you want to predict the price required the following day to get that previous statement to be true you solve for x + +* (Sum(199 days)+x)/200=(Sum(49 days+x)/50 +* Sum(199 days)+x=4\*Sum(49 days)+4\*x +* 3x=Sum(199 days)-4\*Sum(49 days) +* x=(Sum(199 days)-4\*Sum(49 days))/3 + +In order to maintain a golden cross, we must stay equal or greater than x in the previous equation. Today's value was $16.22, Tomorrow's value is $7.28 + +But how do you figure out what price the following day would cause it to be impossible to cross back over in two days? You solve the following equation + +* (Sum(198 days)+x+0)/200=(Sum(48 days+x+0)/50 +* Sum(198 days)+x=4\*Sum(48 days)+4\*x +* 3x=Sum(198 days)-4\*Sum(48 days) +* x=(Sum(198 days)-4\*Sum(48 days))/3 + +Today's value was $45.21 which we obviously didn't hit, but tomorrow's number is $32.08. If we stay above 32.08, then even if the hedgies dropped our price to zero on Monday (impossible but not the point) the 50 day SMA would still be higher than the 200 day SMA. $56.96 or higher tomorrow would lock us in through at least Tuesday. (any further day, just reduce the counts on both sums by 1 but don't change anything else) + +Now for some pictures so smoothbrain can maybe understand better + +First a linear plot, of the two moving averages, and the price required the following day to reverse the trend. Any number below 0 is obviously impossible + +[If yellow line less than 0, then no escape for hedgies](https://preview.redd.it/9uaer71ihki91.png?width=1562&format=png&auto=webp&s=f9fa4db071e141431e11a37542e1627a73530da9) + +Now a Log scale on y to better show averages, and remove all negative numbers. Anywhere yellow line isn't means reversal is impossible. + +[If yellow line missing, no escape for hedgies](https://preview.redd.it/76p7xplphki91.png?width=1550&format=png&auto=webp&s=0e643d64382be8775edaaa28747f70986013bec0) +I’m struggling on my own currently and struggling to build a life for myself. I invited my mom to cohabitate so she could be closer to my little brother’s growing family while she got on her feet. +Am I the asshole for not thinking that’s enough and being afraid that the responsibility of providing for her will fall on me? -And that I’ll never get a real chance to be independent of her? +Very interesting that Berkshire Hathaway often averse to overpriced technology stocks has loaded up on the one tech stock that has ~~delivered poor performance~~ taken a dive from its July 2015 high of $130 now trading at $93 and received recent bad results. Berkshire Hathaway who invest (very) long may know something we don't...? + +Does anyone know what Apple will be releasing in a few years to come? or what they are currently researching? + +http://www.ibtimes.com/warren-buffetts-berkshire-hathaway-buys-apple-inc-aapl-stake-raises-position-ibm-ibm-2369557 + +edit: Buffet**t** + +Edit2: **Berkshire Hathaway** is loading up on AAPL not Warren Buffett alone, I wrote the title in a hurry sorry for any confusion! +Throwaway account because personal. I purchased a vehicle last April for $10,000. Zero down. I finished paying off a previous auto loan a few months prior. The lender holds the title to the previous vehicle as collateral. I was informed prior to purchase that it would not be an issue to refinance once the balance was lower to get the title. Earlier this month I contacted them inquiring about refinance options. My remaining balance is $8853. I would like to pay $7000 toward the principal and refinance the remaining $1853 for 36 months. I was told that my best option is to make bigger payments or double payments to reduce the principle. My interest rate is 30.42%. So far I have applied for the $1800 loan with a local credit union and was denied due to current collection actions. I don’t want to keep applying for credit as I have been working on my credit for the past 4 years and my score is the best it has ever been. Any advice would be greatly appreciated. +There are a number of posts here about relationships, and finding fulfilling 'work' that one can engage with once fat enough to not need to do anything. + +I (32M) made a lot (5M +) of money back in 2017 and have struggled since then. + +Even before (2014) making money I found myself generally unfulfilled. I had a well paying software job but it was very hard work and unfulfilling. I impulsively quit and tried building my own software projects in areas that interested me. That obviously worked. + +Since then I've failed to build anything 'worthwhile' and whilst I get excited about my ideas at first, I quickly build them and get bored. The fact I don't need to make money means that I can get away with just getting bored and stopping. + +Throughout my whole adult life post university social relationships have not come naturally to me. Whilst I'm no lothario I am relatively fit and don't think that I'm completely hideous. That said, a lack of confidence/self esteem has hindered the dating side of things. From 2014-19 I was single and didn't have many friends. I then stumbled (through a hobby - running) into a relationship in 2019 that I have just recently ended. + +When that relationship started I was finally happy - I had money and I'd met a great girl. What more could one need? In practice however I found myself constantly annoyed. She was an 'on paper' perfect person but for whatever reason I was not happy. + +We had multiple breaks. Each time I ended the relationship and she came back. I would identify issues e.g anxious attachment style, poor communication and think (as I do now) that she was the right person for me and I just needed to work on my 'stuff'. + +In the end I just felt I wasn't giving her what she was giving me. I didn't love her enough 🫤 + +One of those breaks was during COVID lockdowns. We got back together but I opted to get a 'normal' software job to give me structure/routine. Again, after a year I just wasn't finding it fulfilling fixing archaic legacy codebases. I quit. + +Reflecting back I regret my decision to breakup once again and I can't discern if this is just normal post-breakup regrets or if I'm just constantly self sabotaging myself. + +I am a huge overthinker (as you can probably tell) but I simply can't discern if I get can't commit to jobs/my previous relationship because they aren't right for me or because of something more fundamentally wrong with me. + +The world is my metaphorical oyster but I am sitting back in my parents living room with no motivation to do anything, no direction etc. I am regularly seeing a therapist and have previously tried antidepressants. My issue with the latter is that they aren't a fix but rather an aid. They can't fix the fact that I don't NEED to do anything and they can't immediately point me towards fulfillment. + +When I was younger I travelled quite a lot solo. It was a great experience but I found myself losing the lustre for seeing things for the sake of seeing things. Again at this point in my life I think travel would become exciting to me again if I were doing it with someone else yet in practice when I holidayed with my ex the logistical side of things was arduous to me and whilst the trips were enjoyable they were not as enjoyable as I had expected/hoped. + +This thread could quite easily be in /r/relationships or /r/AITA but I've posted it here because I think the money is a big part of this puzzle and I think that in many respects lots of people who make lots of money have similar work hard/perfectionist/cut throat approaches to life. + +I find that I am essentially not comfortable with time. I always want to be progressing and developing. In reality this has meant I am often just filling time rather than enjoying my time, and my overthinking means that unless something is perfect I blow it up. + +I was just curious if anyone could relate to any of these ramblings? And if so if anyone had any suggestions of where to go from here. I'm basically at rock bottom at this point but am in the very privileged position of having money to potentially help me out. + +It just makes me so sad to think that I worked so hard to make money to the detriment of other things and find myself deeply unhappy. + +Thanks +I’ve always wondered what to expect from my Crypto holdings during a global financial crisis. A basic prediction would suggest that Crypto prices, on the whole, would see a fairly sharp reduction due to the need for some investors to liquidate assets into usable fiat currency. This may or may not be followed by a huge upswing due to people in a better financial position being able to “buy the dip”, which may or may not equal (or better) the aforementioned dip. + +Most discussions pertain to BTC, and how it will be affected, which I attribute to both being the biggest coin, and because the uninformed simply refer to the entirety of the Crypto market as “bitcoin”. However, I was wondering if anyone had any thoughts on whether ETH will see similar or different effects on its price to BTC, given that it’s not positioned as a store of value, but instead as a smart contract platform. Would that make it worse in a financial crisis? Better? No real difference? + +As a follow up question, how would your prediction change if the financial crisis occurs after X amount of widespread adoption? For example, you could argue that if ETH/Crypto in general is more widely adopted, then you might see more people placing higher trust in the Crypto space than the fiat systems that have failed them, therefore creating a greater opportunity for price growth, relative to if it happened whilst there’s still plenty of FUD pertaining to Crypto’s validity and longevity. + +On one hand, I think it’s extremely wishful thinking to believe that a financial crisis will drive Crypto prices sky-high but, on the other hand, it seems fairly possible. I’d love to know the opinion of people who are more well versed in economic principles than I. +It is normal and expected for the price to not reflect whats coming down the pipe (ETH 2.0, etc) after all ETH 2.0 is not up and running yet. In order to hold through all the ups/downs you need to believe that the current team and companies behind Ethereum are going to pull it off. I personally think that they will even though I understand it is not a certainty. What I know will happen for sure is the second the 2.0 pieces of the puzzle go online and everyone sees that it is going to work the price is going to spasm upward. It may even happen slightly before as insiders see the writing on the wall at some point. Being patient is difficult and not made easier when BTC is pounding the ETH ratio into the ground. The one thing I learned over the years is that jumping onto an existing sentiment bandwagon rarely pays off. You have to be ahead of the curve in order to make large gains. + +Good luck and godspeed ETH 2.0 +Many people put a significant portion of their investments in one company (e.g. Vanguard). It is often asked, "What if Vanguard goes bust?" The hypothetical answer to the hypothetical question is "your investments are still ok." For example: + + +[https://www.mymoneyblog.com/what-if-vanguard-or-fidelity-went-bankrupt.html](https://www.mymoneyblog.com/what-if-vanguard-or-fidelity-went-bankrupt.html) + + +[https://www.vanguardinvestor.co.uk/need-help/answer/what-happens-to-my-money-if-vanguard-becomes-insolvent](https://www.vanguardinvestor.co.uk/need-help/answer/what-happens-to-my-money-if-vanguard-becomes-insolvent) + + +This [scenario](https://www.vanguard.com.hk/portal/mvc/loadImage?country=HK&docId=30627) is happening in Hong Kong. + + + + + +Basically, Vanguard will leave the Hong Kong market and relocate to Shanghai. It is [reported](https://www.ft.com/content/a66bf3ee-8a98-4eea-ac17-f65c35581d02) that Vanguard's assets will either be acquired or simply terminated. + + + + + +In fact, Bank of Montreal ETFs are also reportedly leaving Hong Kong, and their funds may be acquired by China AMC. + + +So I guess it's true that people's assests haven't turned into toilet paper or worse. But now that the funds may have different managers, the investment approach could become very different. Mangagement costs may increase. So the risk is there but more hidden. + + +Sadly, the remaining global broad market ETFs in Hong Kong have very low volume and small in size. IMO that's a higher risk. You would feel sad that investors in the city have not much options for global broad market ETFs. + +Edit: Typo +Especially interested in the timeframe it took for people to buy a house (particularly during the COVID climate). Market in Brisbane and Canberra have been crazy so people might even need to dedicate a year before landing a house. + +Also what did your deposit do in that time? In a situation where I can’t invest the amount because it needs to be available and can’t risk losses, and best suggestion was HISA but even that was 1% interest. Interested in how people hold their house deposit, is it very liquid assets or just hard cash. + +Thanks! +Companies like Intel, AMD, and Nvidia have all dropped quite a bit since the start of the year, and it's unlikely that they will see any rise anytime soon. I know that we are in a recession and that we still have a chip shortage, but it seems like most of these companies have a solid roadmap on how to navigate these next few years. Tech is constantly evolving, and I'm excited for the results of some of the projects these companies are working on behind the scenes. Also, I'm aware that the stock price of these companies can drop even further but I will just buy the dip. + +Just wanted to see if anyone here thinks now is not the time to invest in this industry, or is avoiding it altogether. +I’m young and this idea just crossed my mind. Theoretically speaking, if you’re at coastFIRE all you need to do is make enough to cover expenses until retirement age, and anything you make above that will bring retirement sooner. Do any of you plan on transitioning to more enjoyable jobs at the expense of a lower salary and a delay in early retirement? For example if you’re 35 and could retire in 10 years on your current path or in 20 years doing something more fun and flexible. + +I read so many stories here that focus on retiring early and wanted to see if anyone has any stories more on the financial independence side, where FI might mean you have the freedom to do the work you want rather than the work that pays more, even if you’re not near retirement. I’d love to hear your story. +I have a 3 unit apartment building that I occupy one unit of in Ottawa, Canada. Rents have increased substantially (like 30% or more) and we've had the place for 4 years now so there is a bit of equity. The property value has also increased in the area with comps listing in the mid 600's. We bought at $416k, we made some valuable improvements and the units are nicer than average in the area. + +What do I do now? Do I get an appraisal and borrow from the equity to reinvest in a second property, or second and third property (I've been looking in cheaper regions with low vacancy)? Do I sell the building and use the profits to buy a building with more units? What's the next move? + +Thanks in advance for all your sage advice. +For the past 12 weeks I've been doing 5 DTE credit spreads on ETFs with decent success. Along with an additional 1 DTE spread to complete an Iron Condor with no additional collateral. I've had 10 positive weeks with maybe 3 to 7% return a week on my total account value. I've had 2 down weeks. I lost around 5% one week and this week I'll probably be down around 8% (thanks QQQ). I've recently been doing more research about credit and it seems like I've been playing with fire with these short expirations and that I should move to 45 DTE. + +&#x200B; + +Anyway, every video I watch has a link to a paid service to find optimal spread candidates. Optionsplay $750 a year. Marketchameleon $99 a month lol. How do you guys find good stocks or ETFs for these 45 DTE spreads? + +&#x200B; + +EDIT: FOR THE LOVE OF THE ALMIGHTY STAY AWAY FROM 5 DTE. 11/26/2021 +**MY APOLOGIES APES.** + +It appears I had a pre-mature (ejaculation) post about this. This has already been posted: [https://www.reddit.com/r/Superstonk/comments/purr9d/daily\_treasury\_balance\_for\_0923\_174b\_98b/](https://www.reddit.com/r/Superstonk/comments/purr9d/daily_treasury_balance_for_0923_174b_98b/) And i'll wait for the experts to post the one for Sept. 24th. + +&#x200B; + +Filling in for u/DR7KE... Didn't see Sept. 23 update.. It's getting scary.. + +🟥 ~~Appears to be no longer updated after Sept. 23, 2021 by the Treasury~~🟥 **<-- Pre-mature conclusion** + +Source: [https://fsapps.fiscal.treasury.gov/dts/issues](https://fsapps.fiscal.treasury.gov/dts/issues) + +Fun Fact: Oct. 3, 1947 (Or around this time..) - Daily Treasury Statement Is Missing for First Time + +Source: [https://www.nytimes.com/1947/10/03/archives/daily-treasury-statement-is-missing-for-first-time.html](https://www.nytimes.com/1947/10/03/archives/daily-treasury-statement-is-missing-for-first-time.html) + +&#x200B; + +https://preview.redd.it/hyzwhqv7h2q71.png?width=1091&format=png&auto=webp&s=1154ea8b96a2475d1688d2d4925db622af2ff8be +Morning/Evening everyone! + +It's been a pretty insane four months AMA wise - we've had some epic guests such as Ronan Ryan, Paul Conn to Robbie Ferguson. + +Been an absolute dream hosting all our guests and I along with the mod team hope we've represented the community well. I also hope we've given you the bang for the buck that pre-organised AMAs provide over original text based ones with in-depth answers and providing much more coverage of questions. + +We're wrapping this quarter up with Dennis from Better Markets - so stay tuned for that in early April. + +------------------------------------------------------------------ + +Onto the main reason of this post. Would love to hear who you'd want on for an AMA! No guarantee we'll get them on, but you can be damn sure we'll try our best. + +Second question is, you'd have noticed Reddit Talk being a feature many subreddit's are currently using (similar to twitter spaces). Do you want us to try and host these? If so, what type of content would you want to see hosted via this channel? + +Shoot the shit below. + +Cheers everyone 🍻 +Hello. New profile made just to make this post— been lurking for a while now and have really learned a lot through this community: r/personalfinance. I’ve actually been doing some of the things highlighted here already— but I thought I needed a solid plan to really follow. + +25/F. LCOL. 5 years ago, had no job. Was in school for nursing and lived with my wonderful mom. +- Graduated three years ago became an RN, first job ever! +- Bought a 2014 Nissan Sentra (paid off). +- Paid off student loans, total of $13,250 (always maxed out my student loans to give the extra money to my mom). +- Bought a house 4 months ago, valued at $84,500, still owe $66,000. + +The other people in my family are not... very good with money but a very good friend of mine has helped me with financial decisions and has helped me gain some financial stability. Also, due to my family not being very good with money, I had family members borrow money from me (even as a young child), manipulated me to get money, and never paid me back (good note: those family members I have not dealt with anymore). + +Due to all that I became very, very stingy and grew up feeling like I couldn’t spend a single cent for myself and would have to give the money up to some uncle or aunt or whoever else needed help. I am doing better now though and have been able to invest in both my future and myself. + +So I would really like to continue this journey and commit to creating a better financial future for myself, my family, and my own future family (whether it be an actual partner and our child, an adopted child, or fur babies). + +On to the details! And excuse me if I use certain terms or phrases incorrectly! Still new to to FIRE world and also, English is not my first language! I would greatly appreciate any corrections too! + +ASSETS: +- $84,500 house +- 2014 Nissan Sentra w/ 58,000 miles- valued at $5-6,000 on the blue book. +- $30,000 in savings (10,000 is my Emergency Fund). +- 20,000 in my 401K. + +I have also just recently put my notice in and am woking on getting a job that will pay more. So I will have more money to invest. + +MONTHLY EXPENSES: +- $530 - MORTGAGE +Question: would it be better to pay that amount or to increase and pay $600 monthly? +- $70- COMCAST (it was a promo). +- $150- UTILITIES (a modest calculation, just got the home learning NEST thermostat, hoping it will help with the bill!) +- $103 - CAR INSURANCE (new and cheaper than old one.) +- $74- LIFE INSURANCE (new, not with work, will pay out 500,000 at death or age of 100, whichever comes first). +- $50- COUNSELING (something that I have gotten into to help with stress from work and family. Cannot let myself stop this because it has helped me a lot, and I highly recommend it to anyone.) +- $150- GROCERIES (mostly rice, beans, meat, and some snacks. Health, I think is a good investment because hospital bills are ridiculous, saying that as both a nurse and a patient.) +- $100 - TRANSPORTATION (mostly gas, what else should I include?) +- $80 - MARTIAL ARTS/WORKOUT CLASSES +- $100 - DONATIONS + + +TOTAL: $1,407 + + +Okay. So, details in. Right now I make an average of $3,200 monthly WITH overtime. Working hard to the point that I get sick and exhausted. July is my last month. I am planning on becoming a traveling nurse and expect to make at least $1,200 weekly, total of $4,800 monthly. This job change should increase my expense only with Hotel night stays at decent hotels, either 3-4 nights and more gas usage. I hope my post isn’t all over the place! + +So my questions are: +1. Should I roll over my 401K to a ROTH IRA? + +2. The company I will be working with during traveling has a 401K, but I won’t be able to sign up until after 6 months, and then I am 100% vested right away. They do 100% match up to 3% and 50% match for 4%! +— Does 100% vested right away mean that I IMMEDIATELY get whatever they match? +— And how much of my paycheck should I put in? The 3% or 4%? The place I currently work at matches 25% of the 6%, and I have been putting in 10%. + +3. Many people have suggested Fidelity or Vanguard or Schwab for investments? Unfortunately, I have a hard time understanding some of the risks. Is this a once a year contribution and just let it grow? + +4. Should I get an HSA? Or is there another alternative? I currently have health insurance with the place I work at, and I am planning on switching to Anthem, the one that is provided by the company taking care of my home, auto, and life insurance. +— if I get health insurance from them too, do you think I can haggle cheaper prices in all as well? + +5. Would it be better to buy new furniture with full payment for the new house or to do payment plans? + +6. How do I calculate how much money I need for retirement? + +And... I think that is all I have for now! Thank you all so much for your help! Any suggestions/recommendations are very much appreciated! + +ADDED QUESTION: + +- I currently have two credit cards. One in a local credit union and one with Wells Fargo. Would it be a good idea to get another one? Or not? + +Thank you! + +EDIT: + +WOW! I did not expect to get as much attention as it did! I am amazed and grateful! The Reddit community is wonderful!!! + +Also: + +To answer some of the most asked questions: + +1. I live in one of the smaller cities in Virginia. LCOL. Done pretty well so far. + +2. The house I bought is a 3 bedroom house with 1 full and one half bathroom. Nice, hardwood floors. Spacious. With a big basement, half-finished. It’s a good amount of space for one person! + +3. Yes, I like to donate and volunteer as much as I can. I try to put as much good energy into the world because hey, life’s hard enough. Also, to counter the sarcastic comments I have a tendency to dish out in my head. + +4. One of the best perks of being an RN is being able to find a job anywhere, anytime. I have actually already had two solid offers that I had to turn down because I want to finish my last few weeks and not just go AWOL. + +5. I make, on average, $3,200 monthly. This is while working nightshift and with overtime. Unfortunately nurse money, isn’t really big bucks money unless you travel— most times! + +6. My specialty is ICU! I’m an intensive care bear. + +- Yes! I do make... a low amount. Base pay of $23 plus shift differential of $4, $1 weekend differential. $2 charge nurse differential! With overtime— I make about $3,200 to $3,800 monthly... + +7. The life insurance is for my mother in case something happens to me. So she can pay her mortgage, my mortgage, buy the land she wants to retire in. Etc. she has been my rock and my biggest fan. So if I do die, I’d like to leave her with enough to sustain her needs and wants. + +Also, I didn’t think I needed life insurance until I— 1. Got into a car accident. 2. Had an anaphylactic reaction one time while I was at work that required me to go to the Emergency Room. Embarrassing. And terrifying. + +Thank you all once again! + +— Oh, I also have 3 plants named Wilde, Twain, and Poe (who says I shouldn’t get any more plants, nevermore. But I am not listening to him.) and... + +- a BIG, FAT gray cat that comes to my porch and watches me all the time. Completely unfazed. Lays around in the sun and squints at me. It is not my cat, but I do believe I am one of its hyumans. + +My friend says I should name him Hobo. What do you guys think I should name him? + +(You can go to my profile to see a video of the cat.) + + +— I HAVE READ ALL THE COMMENTS AND HAVE TRIED TO RESPOND TO AS MANY AS I CAN! Thank you all so much! I am so grateful! — +I have 1.1k In VOO my mains goal is long term gain but For now it’s Divideds. Thinking about investing 100 a week into SCHD. + +I’m 18 living rent free. I make 15/hr and I invest 100 every week. +Objective of this war game: make the best dividend portfolio for early retirement. + +You have 1 million dollars at age 30. You never wanna work another day in your life. What dividend stocks are you putting that million into with a brief description why. +Today was a blood bath in a sea of red. It hurts watching that portfolio total go down. Being mostly invested in dividend stocks helps me with these wild swings as I at least got to see a few div payments in my account the past few days. The great news is that I do have a nice stash of cash saved up, just for these dips. Always keep some cash back just for these blue light specials! + +Just wanted to say to those who are new to the investment game...stay long and strong (Now you are singing "Baby Got Back" song in your head). These bad days will go away and you will see gains. Take a break from the market action for a bit and remove yourself from the ticker watching. R-E-L-A-X. This too will pass...like a kidney stone, but it will pass. Stay the course and know that next to compounding dividends and interest, the next great force of investing is DCA (Dollar Cost Averaging). Buy Low, Sell High and you don't lose money unless you sell at a loss. If you liked the stock yesterday at a higher price, you will love it today at a lower price. Make sure you buy quality and not chase the yields. + +I feel the market will be super choppy and mostly down this whole year and possibly into the next (My opinion only). It will correct itself in time and we get to watch it go up again and see beautiful green upward lines in our portfolio charts. Investing is a long game. Don't quit the game before you have a chance to win. +Stop complaining about the newcomers. Just stop. Idgaf if you remember skarelli jerkin off mods or seeing the GUh guy’s original post about unlimited margin. You were a normie acting all giddy and curious just everyone else is right now. + +It’s also crazy how people are complaining there’s no other good dd anymore because of the gme hype. Like really dude? Wtf was FAANG all about then? Sector rotation? This sub didn’t talk about anything else except maybe mattresses. + +Here’s another interesting fact. Wsb’s performance astronomically improved when the sub grew bigger. That means dd probably was actually scrutinized by actual people that were learning and not shilled by bots because we actually have a big enough audience to scrutinize properly. Like seriously why are you complaining when we’re winning. + +Yeah I get some of you psychopaths can’t wait to see loss porn and sweet justice on these cocky cringe normies when the storm hits but let’s not forget even deepfuckingvalue started somewhere and asked questions to fuckheads like you. So yes, deal with it. We could actually get some autistic level dd due to the scrutiny. + +Btw, mods you’re doing great. + +EDIT: I turned my $600 stimulus into 19k only on GME. I blew up my account 3 times for the past 3 years. I’m still holding gme calls. Weekly. No shares. So gtfo with that bot shilling. + +Also read the fucking side bar for you newbies. Just because I like calling out hypocrites doesn’t mean I like lazy people. +This rocket is primed for an explosion, we all know it, because we have done the work, and read the DD done by the wrinkly brains on here. + +But other people around you haven't read the same DD and done the research, so they're obviously going to recommend selling when it reaches new highs, so for your own sake, don't talk to anyone about it. + +Me personally, will be distancing myself from the people around me while I wait patiently for the peak to be reached. The people I have been talking to about this on the daily, I've already informed them not to try and influence my decision on when I'm selling. + +Godspeed beautiful apes +Hi All! I live with my girlfriend and we are financially stable had a nice emergency fund built up. We just had to spend $780 to fix my car and probably about the same to fix my girlfriend's car this week. There is still income coming in. I'm kinda just looking for validation that this is the kind of stuff you use an emergency fund for and like it'll be built back up. Any kind words or additional advice would be appreciated. Thanks in advance! +tl;dr My university ignored all of my questions about a specific class while I was studying abroad and now I'm not going to graduate over 1.5 communications gen ed credits. + +It is so stupid that I’m in this situation and I’m at a complete loss for what to do. + +Since it's more or less impossible for STEM students to study abroad, many schools have some variation of "Euro Tech" or "International Engineering,” where you spend four years doing normal undergraduate stuff and then you study/intern abroad for a fifth year. At the end, you get a BA in a language and a BS in engineering. + +I’m in one of these programs, I finished my BS no problem, and then I headed to Germany to finish my BA. About two weeks into the semester, one of my classes was cancelled. This class was going to transfer in as 1.5 communications credits; I needed it to finish my general education requirements. + +This was in the beginning of November and I emailed my professor in the US asking what to do. No response. We had some assignments from our home university; in every single one I baked in “Oh by the way I’m worried about these credits.” No feedback was given. In December, my professor texted our group chat and said “We’ve gotten some questions about credit transfers; we’re going to send a big email on how to modify your transfer forms.” No one ever got an email. + +It’s now the end of the semester and my professor came to visit the partner university. I was finally able to ask: “Hey I can use some of these extra German credits for my communications requirement, right?” The answer: “Oh no, they’ll never allow that. You’re going to have to take that online during your internship. Maybe you should have spoken with the head of the language center.” + +If someone had taken 20 seconds to email me this in November, I could have taken an acceptable communications class. Since that didn’t happen, I now either a) don’t get my BA in German or b) spend $500+ to take an online class. I’m so frustrated because I asked for help so many times, they straight up ignored me, and now I’m the one who has to pay. Lastly, I think the idea of talking to the partner university is ridiculous, since this literally isn’t their problem. + +Does anyone have any ideas of what I should do? I paid so much money to do this exchange program and I feel like I’m being totally screwed over. Honestly I’m thinking about just walking away from my degree since I'm starting grad school in Germany next winter. Plus I'm unsure if a BA in German as a second language is worth $500. + +Quick Edit: I'm not asking for credit for a class I didn't take. There are two classes in question and they’re extremely similar: Technical Culture and Technical Communications. Technical Culture was marked as my communications credits but didn’t run. Technical Communications is running and would be transferred in as miscellaneous language credits. Since I don’t need extra language credits, I would like to use this class towards my gen ed requirement. Apparently this isn’t possible because the class is taught in German, even though the other class was also taught in German. The real kicker is that my other 1.5 communications credits are coming from a German listening class, which the university already approved. + +Double Edit: “My professor” is also the head of my program, the department chair, and my academic advisor. Actually they’re three people, I’ve been emailing all of them, and no one has responded. They sign off on my degree and can pretty much do whatever they want, since the dean wouldn’t question their decisions. Going above them would mean going to the dean of the whole college who, frankly, doesn’t care. Sorry; I tried to make it less confusing but somehow made it worse. +[https://www.bbc.co.uk/news/newsbeat-54538949](https://www.bbc.co.uk/news/newsbeat-54538949) + +My first thought - put a bloody jumper on!! + +The rest of the tips are fairly mundane tbh +So baby-daddy decided he was entitled to claim one of our children as a dependant on his taxes this year, despite them living with me and him never paying any child support. + +I tried filing online like I typically do, but my return was rejected. What should I do now? I've only ever filed my taxes online and they've never been rejected, so I'm super lost on what my next steps should be. +> Earlier today I have received a phone call from a fake number (it appeared as the phone number of my local police station). + +> A male, Anglo-accent caller asked if I was <my full name> and claimed to be a drug addict, and gave me my full address, and said he knows I have a lot of bitcoins. When asked how, he said my information has been leaked on the dark web. I played dumb and he eventually says I purchased a ledger hardware wallet and “only loaded c*nts” buy them. + +> He told me a sob story about how he is addicted to meth, is about to run out, and needs monero to buy more. He demanded 10 XMR and said if it’s not sent by midnight, he will show up at my house, kidnap me, and “stab to death” any relatives living at my address. I was able to record this phone call as I put him on speaker phone. + +> I have went to the police and filed a police report. They are going to try and trace the caller and has sent a police car to wait outside which I am very grateful for. All of my doors etc are locked and I have the officer’s phone on speed dial. + +> I just want to warn everyone about the dangers of Ledger’s recklessness. If there is a class action lawsuit I will gladly join and submit this as evidence. + +Thread here: https://www.reddit.com/r/ledgerwalletleak/comments/ki1nsz/received_phone_call_threatening_kidnapping_and/ + +It looks like the warnings about data and privacy around having hardware wallets sent to your home have come true. Bitcoin is unlike most other assets and is open to theft and threats like this. [This isn't the first nor the last time](https://github.com/jlopp/physical-bitcoin-attacks). Privacy isn't "just for criminals". Saying "if you have nothing to hide you have nothing to fear" is bullshit. + +To check if you're affected check: https://haveibeenpwned.com/ + +If you've been affected by the leak head over to r/ledgerwalletleak, it seems people are organizing a group lawsuit. + +edit: added link to check if you're affected +Revenue: $7.87 billion vs. $7.95 billion expected, $7.16 billion Y/Y + +Earnings per share: $3.53 vs. $2.91 expected, $3.75 Y/Y + +Net subscribers: -200,000 vs. +2.51 million expected, +3.98 million million Y/Y + +Down 20% in pre-market + +https://finance.yahoo.com/news/netflix-earnings-preview-q1-2022-subscribers-145328663.html +Hi all. Throwaway account, apologies. Looking for advice: how do people think about mortgages in the economics of a FIRE decision? + +NW of c. $10m, and am considering how "safe" it is to RE. I have a mortgage on my primary property of approx $1m. Rate is 2.5%, and clearly I expect my portfolio's returns to exceed that number. From a simple returns perspective it of course makes sense to retain the mortgage and keep the funds invested. + +However, when considering pulling the RE trigger, there's more at play. If I maintain the loan, then once RE'd, I would continue to repay my mortgage monthly, and the repayments are required to be factored in to my withdrawal rate, which is as a result higher. Given a SWR of (say) 3.5%, that effectively requires that I maintain 28 years of the mortgage payments in my invested NW. + +This seems inefficient. It might mean that I'm setting myself a NW target which is unnecessarily high. + +On the other hand, I could sell investments, repay the mortgage and have a commensurately lower annual spend and hence required WR. But miss out on growth on the $1m. + +Live in a non-tax jurisdiction so no tax considerations here. + +This is a great community and I imagine others will have thought through this before. What's the right answer here, or are there any other materials that I might review to help with this decision? +Stats: + +* Married, both 40, two elementary-age kids, HCOL area +* Had two successful startup exits, will probably do another and have good access to VC funding + +Savings: + +* $1.3MM in various retirement accounts +* $580k paid-off rental property +* $500k equity in current $800k primary residence (two bedroom, 1000 sq ft, we're outgrowing) +* $400k in cash savings +* $1.2MM paid-off lot w/house to teardown + +Income: + +* $2.2MM after-tax coming in in the next 13 months +* After that spouse would make maybe $600k but will be eager to start a new company +* I'm self-employed currently making $100k, building to $300k in 2-3 years + +Expenses: + +* We've gotten horrible at tracking. No big commitments like private school. In some universe we could currently live on $6k/month if we tried, but we very much don't. + +So we bought this lot (with a house we'd tear down) for the above mentioned $1.2MM. It's on a lake, in a good school district, with an excellent commute, near friends and family. Looking at building a house, but the financials have spiraled, and we're lacking in people to have a rational discussion with, so I've come here. We are unlikely to RE as we both like working too much, but FI is a general goal (that we'd nearly be at if not for this ridiculous plan). + +House construction costs are coming in at $1.9MM plus another $400k of architect/structural engineer/landscape/overage, so when all is said and done let's say $3.5MM all-in. It would not actually be that crazy a house - 2800 sq ft plus a finished/walk-out basement [ETA: 700 sq ft of finished basement with family room, guest suite, plus a workshop and storage in the unfinished area]. It would have space for me to meet clients and spouse to start next company in. Property taxes would probably be $30k/year. + +The other housing stock available is either aging or spec-built crap. There are also very few houses on water/with nice quiet backyards. We've been looking for several years and not found something that we want to buy. The house we're planning to build is designed to meet our needs, accommodate grown kids with families, and aging-in-place. We'd plan to stay in it forever. + +But the crux of it is, realistically the housing market here won't support a $3.5MM house. A contractor would put crap on it for $600k and flip it for $2.2MM. Realistically, people wouldn't be able to tell the difference, and what we're building will probably appraise for $2.5MM. So, we're setting $1MM on fire (pun not(?) intended). + +Are we fucking idiots? There's a good chance we'll have another $5-10MM in the decade if the tech market doesn't go sideways, so I feel like there's a good chance we won't miss the money, and would miss the opportunity. If only we knew the future. Meanwhile the kids are getting older and bigger and we need to move somewhere, so staying put isn't an option we want to consider. + +WWYD? (I may come back and edit further for coherence.) +[Early Retirement Now](https://earlyretirementnow.com/) doesn't get a lot of love in the FI space, though it should. [This recent article](https://earlyretirementnow.com/2017/01/18/the-ultimate-guide-to-safe-withdrawal-rates-part-6-a-2000-2016-case-study/) analyzes how a 4% SWR rate is doing for people who retired in the year 2000 with various mixes of stocks and bonds. + +What's particularly interesting is how *badly* a 100% stock portfolio is doing - perhaps due to the dual hit of the 2000 and 2008 market crashes, it doesn't look very likely that someone who chose just stocks will make it to 30 years. (And ask someone who was around for the bull market of the '90s, with books being published like "Dow 36,000", how people felt about investing in anything other than the stock market.) + +On the other hand, someone with a modest - 30% - allocation in bonds looks like they're going to coast over being able to succeed over 30 years with cash to spare. + +As the author says, for person retiring at a regular age of 65, 4% is probably fine because they're already in their 80s and spending is dropping dramatically. For early retirees like many of us are or aspire to be, looking at a failure of the 4% "rule" for high equity portfolios is concerning. + + +Also, this series as a whole is pretty good. There's a lovely analysis of some of the problems with variable withdrawal rate strategies. +The end of an era. Washington D.C., Dec. 14, 2022 — +The Securities and Exchange Commission today announced charges against eight individuals in a $100 million securities fraud scheme in which they used the social media platforms Twitter and Discord to manipulate exchange-traded stocks. +&#x200B; + +[You're entering a world of pain, Glacier....](https://preview.redd.it/qn40diwq3rz61.jpg?width=868&format=pjpg&auto=webp&s=d011c6d075b8d9e6fe61b6e51c7a0581124b8428) + +&#x200B; + +Most of this shit is painful to read but here are a few snippets of how clueless or paid off these guys are: + +&#x200B; + +&#x200B; + +[FUD attempt #1](https://preview.redd.it/ovcmsgba4rz61.jpg?width=1170&format=pjpg&auto=webp&s=3bfba072450fa829f8262d22119562de0fe59413) + +&#x200B; + +The classic, "*Even the CEO is leaving, it must be a failing business"* narrative. Ryan-mother-fucking-Cohen. That is all. + +Sherman can stay on the board after he steps down as CEO, I don't care and neither should you. + +&#x200B; + +Speaking about their very loose and purposely uninformed definition of *"Retail Investors":* + +&#x200B; + +[Wow, just wow.](https://preview.redd.it/bjtlfhca5rz61.jpg?width=1170&format=pjpg&auto=webp&s=2494a2a98ec7aed30776e41961f71b45effb6d64) + +If I were the likes of u/atobitt u/rensole or any other wrinkle brains, I'd go ahead and be offended. + +&#x200B; + +More on them not knowing, or being paid to sound like an idiot, on Redditors: + +&#x200B; + +[Glacier: Where we try and make shit up for personal gain.](https://preview.redd.it/es1lps5d6rz61.jpg?width=1170&format=pjpg&auto=webp&s=b1995ab488631b0161cf5fad168c86e0bffd5c45) + +&#x200B; + +Information isn't *"exchanged"* here, assholes. It's publicly placed for public viewing. + +&#x200B; + +More bullshit: + +&#x200B; + +[Recruit new traders????????](https://preview.redd.it/4patwjuz6rz61.jpg?width=1170&format=pjpg&auto=webp&s=fb7c7f6a820f6f44e39f84f70460f5dbdb91ec6d) + +&#x200B; + +Actually we all just like the stock. Only think I recruit is my wife to allow me to dig into more savings. + +&#x200B; + +Why stop being idiotic there, Glacier. Give me more please, can you explain to me how a squeeze works? + +&#x200B; + +[Ummmmmmm](https://preview.redd.it/1mthbmzk7rz61.jpg?width=1170&format=pjpg&auto=webp&s=65d0b3921eb5f039dd7c0e7b5b890aecdd34b586) + +Actually all I know is fundamentals now. Short interest, float percentage, institutional ownership, raw beta, OBV, VIX, MACD, yada yada yada. Thanks for asking. Anything else you want to teach me about a squeeze? + +&#x200B; + +[Sheesh.....](https://preview.redd.it/qkdpl3cm8rz61.jpg?width=1137&format=pjpg&auto=webp&s=c0c010f9a7fb8e9e5866799096367b4c05f1a150) + +Art? I fucking hate art. If I had an expensive piece I'd sell it for more moon tickets. + +&#x200B; + +And Glacier, while you're at it, why don't you spit out some lies about GameStop the company as well, take it easy on retail investors: + +&#x200B; + +[BAHAHAHAHAHA](https://preview.redd.it/e8za6o849rz61.jpg?width=1170&format=pjpg&auto=webp&s=1579f486c55ec779cf3e37dc38b9b469dc0d0c7f) + +&#x200B; + +I'm sorry, how much is the gaming/esports/e-commerce industry worth again? How are stores being revamped again? Glacier apparently missed the memo on Ryan's brick-and-mortar transformation. + +"...*lost several key people".* Yes. And replaced them with an absolute **DREAM TEAM** of board members. Somebody should update Glacier on what happened with Chewy. Last I heard they beat some company called Amazon in the pet supply industry. + +&#x200B; + +And lastly: + +&#x200B; + +[I believe you're an idiot.](https://preview.redd.it/xdd3oroj9rz61.jpg?width=1170&format=pjpg&auto=webp&s=0231dc7e37b86640adee3d9fd56e3f92316d0486) + +&#x200B; + +How about... (sentence continues below) + +&#x200B; + +[\(Not from their Investor Letter Obviously\)](https://preview.redd.it/58u8bfl1arz61.jpg?width=1170&format=pjpg&auto=webp&s=38e03341f08900b372846815d4ba3527dad94f0a) + +.....REGULATING THE PEOPLE WHO MANIPULATE THE MARKET?!?!?!?! + +Conclusion: Glacier is full of shit. Probably supplying truckloads of Hellman's into Chicago. + +Buy. HODL. Repeat. Vote. +I have about $5500 in the stock market currently, and also about $20,000 left in school loans to pay off. Should I take some of the $ out to pay off some of the loans off or keep it all in the stock market ? + +EDIT: +65% of my stocks are Brk-B +31% is AMZN + +Does this help? +So I'm sitting on a little bit of savings (~25k), don't really have a plan for it at the moment except maybe to start an IRA. I make a little over 40k a year, contribute to my 401k to the maximum employer match, and pay only $250/m in rent to share a room in a house with my girlfriend and some other roommates. I have no loans, credit card debt, or car payments. + +My parents think I should buy a house. The thing is housing is pretty expensive where I live, but my rent is super cheap. I'm not sure I'm necessarily settled enough to want to buy a house for myself at the moment, and it's expensive. My brother, however, lives in an area where housing is pretty cheap (Pittsburgh) but he pays a lot for rent, and doesn't make much money at all. + +So my parents think it's a great idea for me to buy a ~100k house in Pittsburgh and rent it to my brother for slightly more than the Mortgage. They say that housing is usually a pretty good investment, and that I should be owning at this point in my life. They make it sound like it's all pretty simple and will almost definitely come out in my favor, that I'll just sell it later and get my money back. Personally, I'm not convinced it's so simple. I buy a house, pay closing costs, property taxes, upkeep, and technically be a long-distance landlord, doesn't sound like an amazing opportunity other than the chance to help my brother out. What do you guys think? +I’m 23 just put more money in my Roth for the first time in 2022. I did the math if immediately maxed out it and if it grew 8% I would net an 1500 dollars this year. + +Like that’s cool and all but somehow that feels disappointing. Like I’ve been doing this for 3 years now and I can only guess I’ll get 1,000 dollars out of it. + +So my question is when did you starting looking at your retirement accounts and realizing that it’s really picking up momentum? When did it feel like you were reaping the benefits of compounding interest? + +I have faith in the process but it’s kinda depressing to think about. I could deposits 6k and see it again in 40 years? Is that really what I want? + +Idk I’m doing it anyways but is there any tips someone could give me to get over this mental hurdle? Idk part of the problem might be I’m investing really strong on a small income. I’m a student who gets support from my parents so I can still invest about half of what I make a year (about 12k). +For those that don't know me I run Australia's largest crypto channel. I've been advocated for crypto adoption in Australia since 2012. Today I woke up on Xmas to a strike warning from Youtube for harmful or dangerous content. Checked my email, nothing. A few hours later after Xmas lunch, another strike. I hadn't even done anything on Youtube since the first strike. Still no email. I cover a lot of topics related to finance, economics, housing market, stocks as well as crypto related content. We don't do paid ICO or token promotion. I have done tutorials on leverage trading platforms. I'm really not sure what to do. If the trend continues most crypto youtubers will be affected. I get there's plenty of bad guys out there, but there's plenty of good ones who have been big advocates for Bitcoin & crypto for years. Wish us luck...[https://twitter.com/AlexSaundersAU/status/1210100907909750784](https://twitter.com/AlexSaundersAU/status/1210100907909750784) +Edit: Yes I already post to & support decentralised platforms but the fact is users aren't there yet. + (If you haven’t read the first update, you can find it [here](https://www.reddit.com/r/Superstonk/comments/wbjguv/someone_asked_for_an_update_on_the_bcg_lawsuit/?utm_source=share&utm_medium=web2x&context=3)) + +&#x200B; + +TLDR: Since the past update, GameStop has filed two pertinent documents--another Motion to Dismiss (“MtD”) and its reply brief to its Motion to Transfer Venue (“MTV”). + +**Motion to Dismiss.** After GameStop filed its first MtD on June 10, 2022, BCG [Amended its Complaint](https://acrobat.adobe.com/link/track?uri=urn:aaid:scds:US:83ac0da3-c53d-3c47-aa0b-2ee5eb657f94) (the document that a plaintiff files that contains the legal theories of recovery and includes factual allegations to support such theories). What we are seeing in this case is a very common sequence of events: + +1. A defendant files a MtD alleging that the plaintiff failed to state a proper claim for relief. In other words, the defendant argues that even if the court were to take the facts alleged by the plaintiff as true, the case should nevertheless be dismissed because the facts do not support a legally recognized claim. (GameStop first did this on June 22, 2022). +2. If the plaintiff would like, the court will almost always give it a chance to amend its complaint to add or modify the allegations to substantiate a legally recognized claim. (BCG did this on July 1, 2022). +3. If the defendant believes that the amended complaint, if taken as true, still fails to plead sufficient facts or legal allegations, the defendant can then file another MtD. (We are here because [GameStop filed another MtD on August 15, 2022](https://acrobat.adobe.com/link/track?uri=urn:aaid:scds:US:620adb62-505f-3d54-a440-bb67e92df8be). +4. It would then be up to the plaintiff to request leave to amend its complaint again if necessary and/or respond to the MtD with the hopes that the court does not dismiss the case. (BCG’s response to the MtD is due on August 29, 2022.) + +One thing that is somewhat odd (and this may just be a difference from the local rules I am used to) is that BCG never filed an actual response to GameStop’s first MtD and there is no ruling on file denying the motion. As I mentioned in my last post, this may have been because the Court decided to defer the issue until the MtV is ruled upon, but now it looks like there may have been an oral order to allow BCG to amend its complaint, and then GameStop could then file another MtD if it contends that BCG still failed to plead a proper claim. Regardless, I do not expect that we will get a ruling on the first motion as it is now moot because of the filing of an updated motion that addresses the amended complaint. + +**Motion to Transfer Venue.** GameStop is continuing its push to get the case transferred to Texas. On August 15, 2022, GameStop filed [its reply](https://acrobat.adobe.com/link/track?uri=urn:aaid:scds:US:620adb62-505f-3d54-a440-bb67e92df8be) to BCG’s response. The Court will hear argument on the MTV on September 12, 2022, unless it decides to rule on the motion without argument before then. + +\---------- + +That is all for now, but I will keep an eye on this case and will update periodically. + +DRS! +Currently i’m just split up 50% VTI and 50% SCHD. I’m 19, about to turn 20. What are you guys invested in, in your Roth IRA? I also have a brokerage account that I have stocks and ETF’s in. +For the past year, every day I visit this subreddit, I've noticed that the most discussed/upvoted posts are either talking about the market, its ups and downs, and, (this I see a lot)- pandering to the 'newbies'. + +Of the top 100 posts this month, there are hardly 5 which move away from the money/finance aspect of crypto, mentioning things like - learn from these list of courses, what staking is etc. Most of the other content is around the former. + +We keep telling people to DYOR, which is legit advice, but a lot of folk found what to DYOR on from here - what's consensus, what's the 2 generals problem, what is a distributed ledger, DAGs, Staking, etc. It's a bit saddening to see that kind of content go down. + +Even in 2017 and before, during the bull run, before the crash, there was a lot of content from people who 'were in it for the tech' and discussion around tech topics. There obviously weren't enough of them which is why we used to suggest going to r/cryptotechnology for the serious stuff, but still they were more frequent then. This has been largely replaced by folk telling others about how to manage their money. + +Tbh, I'm not some highbrow chap who thinks 'this sub has gone to the doge'. I'm not criticising the content - the money has truly changed people's lives for the better, especially in countries without stable currencies. + +I'm mostly just fascinated by how the subreddit has shifted over time. It's a look into how the growing subscribers of the subreddit, the change in its structure and how the general moderation process has brought a shift in the content here. + +Cheers to my fellow Redditors here. Whatever you have come here for, glad to have you around. + + +Edit - to all these people saying it's Crypto CURRENCY. The currency part is incidental. The original white paper set out to solve the problem of double spend, and the obvious first implementation of that logic was the currency aspect. The tech is more integral. +And this is exactly why people need to DYOR and atleast understand a bit of what this is all about. +There was no damn way I was gonna let some silly cancer prevent me from seeing this baby hit $1 mil! + +Also fuck cancer. + +Edit: just wanted to thank everybody for the kind words +https://www.wsj.com/articles/weworks-ceo-makes-millions-as-landlord-to-wework-11547640000 + +>One of the landlords behind the building was no ordinary owner: It was Adam Neumann, WeWork’s chief executive, who leased the property to WeWork after buying it, according to people familiar with the situation. + +>Mr. Neumann has made millions of dollars by leasing multiple properties in which he has an ownership stake back to WeWork, one of the country’s most valuable startups. Multiple investors of the privately held company said the arrangement concerned them as a potential conflict of interest in which the CEO could benefit on rents or other terms with the company. + +Ahem: 🤣🤣🤣🤣 + +Between this, the community adjusted EBITDA, and the branding as a "state of consciousness" rather than a workplace I'd personally like to nominate this for most entertaining to watch business startup of the year. + +E: also lots of* concern. I'm leaving it. If they can remove expenses from EBITDA then I can spell shit wrong. +Hi guys, + +I'm a US citizen (Person of Indian Origin), who's been residing in India >5 years, looking to start investing (at the beginning of my career). I have a NRE and NRO account with a private bank (HDFC / Axis / ICICI). Curious to know the steps that would be needed to start investing in direct mutual funds / index funds. While I'm not fussed in making direct equity investments, it would be good to have this flexibility from the onset as my sophistication in investing / personal finance increases. Also some factors to be considered: + +1). Relative to a regular NRI application, I believe US NRIs are subject to more regulatory oversight due to FATCA regulations i.e. a NRO PIS account would be great for Mutual Fund investments but these aren't valid for US citizens (basis my imprecise understanding) + +2). Bunch of documentation around PIS, KYC etc seem daunting vs a regular resident account + +Thus would appreciate a brief guide on the steps needed to be able to start investing from folks that have been in my (admittedly niche) position. Thanks. +I would like start with Michael Burry's view on index fund: + +“This is very much like the bubble in synthetic asset-backed CDOs before the Great Financial Crisis in that price-setting in that market was not done by fundamental security-level analysis, but by massive capital flows based on Nobel-approved models of risk that proved to be untrue.” + + +Here is what I feel when we talk about actively managed funds, mostly fund managers buy/sell underlying assets with due diligence, avoid buying overvalued stocks and avoid illiquid stocks because it might create problems later while selling. + +On other hand for passive funds, fund managers are bound to invest more and more in same proportion even though stocks are overvalued, have to invest in illiquid/poorly performing stocks of index. + +What is your take on index fund/etfs ? +So, I recently opened an account with Axis bank. The branch manager and all others are really interested to see that I buy this policy: https://www.maxlifeinsurance.com/savings-and-income-plans/smart-wealth-plan.html + +The people are saying that it is a good plan because + +* of EEE status (exempt at all points) +* fixed maturity amount (guaranteed) +* additional advantage of a life cover + +My reasoning of not opting are: +* Don't mix insurance and investment +* Don't take bank's advice +* Not a liquid instrument +* Has penalty in case of pre-mature withdrawal or missing premium + +What I am curious to know is this: + +* What may be a suitable alternative to this instrument? FD has low rate of return as well and incurs taxation at the income tax slab of participant and locked for a specific time (albeit small). +* Haven't done any research on debt MF, +* PPF is somewhat similar to this plan as well. +* What else? + +I did a small XIRR calculation. Not sure if this is correct or not, would love feedback. + +https://docs.google.com/spreadsheets/d/e/2PACX-1vSm2ZlLiyrNb6kd7XE4jURDALvk3xGEsSJLck3WJ3vP2MsNb7NRUREagggOM7eq1sQM4u85VMK3_p7r/pubhtml?gid=0&single=true + +So, my questions are: + +* What is the opinion of hivemind on this plan? +* What is the recommended fixed income instrument of a portfolio and how are they better than this plan? + +Thanks, +[Bloomberg](https://www.bloomberg.com/news/articles/2021-12-31/good-riddance-all-the-things-wall-street-won-t-miss-about-2021?utm_medium=social&cmpid=socialflow-facebook-business&utm_campaign=socialflow-organic&utm_content=business&utm_source=facebook&fbclid=IwAR1resMxyY6WLCrayPSO1BrTULrDPH9kstEHYfjbqaqBBVOTywVGPaF46Gg) is reporting that Wall Street wants NFTs to fade away. Frankly I can understand the sentiment of her quote if that’s genuinely her level of understanding but why should “Wall Street” care if they go away or not? + +Relevant portion if you don’t want to click: + +It’s impossible to look back on 2021 without acknowledging that cryptocurrencies and the blockchain dominated conversations. Victoria Greene, founding partner and chief investment officer at G Squared Private Wealth, is eager to jettison one of its offshoots: non-fungible tokens and promises that the digital artworks will be the next big asset class. + +“NFTs are basically digital art, but not all art has value,” Greene said. “My five-year-old niece can make a pretty picture that has value to me, but that doesn’t necessarily mean that it’s actually valuable.” +[IRS Sending Warning Letters to More Than 10,000 Cryptocurrency Holders](https://www.wsj.com/articles/irs-sending-warning-letters-to-more-than-10-000-cryptocurrency-holders-11564159523?mod=hp_lead_pos2) + +&#x200B; + +>An IRS spokesman declined to say whether the letters [stem from information](https://www.wsj.com/articles/do-you-own-bitcoin-the-irs-is-coming-for-you-1521192601?mod=article_inline) turned over by digital-currency platform Coinbase. In mid-March of 2018, Coinbase provided data—under a federal court order—on about 13,000 accounts requested by the IRS. +> +>One version of the letter recently uploaded to the IRS website asks recipients who believe they have followed the law to sign a statement declaring, under the penalty of perjury, that they are in compliance with tax rules. It also notes says that the recipient should understand the IRS may be in touch with them. +> +>In recent weeks, IRS criminal investigations chief Don Fort has announced that the agency is also building criminal tax-evasion cases involving cryptocurrency that are expected to be made public soon. +> +>The Coinbase customers whose information was turned over bought, sold, sent or received digital currency worth $20,000 or more between 2013 and 2015. +Canadian trucker convoy raised over $4.5m but all of that was frozen by GoFundMe. + +https://vancouver.citynews.ca/2022/01/25/canada-trucker-convoy-gofundme-frozen/ + +Centralised payment rails can easily be censored by governments. Using them is literally asking to get de-platformed. Not just this time around, GoFundMe has a history of freezing users funds for a number of reasons. Its just similar to PayPal where you have to jump through hoops just to access the funds sent for your cause. They may not overtly admit it, but a company like GoFundMe must be under a lot of pressure by governments to freeze funds that are meant for anti-government protestors. + +If crypto is too volatile for them, they can use decentralised stablecoins to raise funds. Something like DAI can be most useful in this scenario - it cannot be frozen, and can be easily exchanged for fiat. Protests are completely legal in most jurisdictions and these protestors have said they will be using the funds for fuel, food and lodgings in taking part in the convoy - all of which is legal. With a crypto credit card, they can spend their DAI or any other coin for all their activities. + +Why they dont prefer using crypto payment rails over GoFundMe is bewildering. Maybe crypto platforms need more awareness. +First, English is my second language so please forgive my poorly organized, horribly formatted and super long story. Also I never shared this story before and wasn't really planning to, but I told it to one of my now close friend who is a crypto nerd like me and he said it was inspiring and that I should share it so here goes. + +It's 2014 I am working a minimum wage job at a labels factory, I boxed the finished labels. 6 months later, I am promoted and I am head of the quality assurance department (happened super fast and everyone was amazed that it happened including myself :P ). I got a raise and life was good.One day the owner decided to hire a "team leader" basically a tier 2 boss. An authoritarian racist c\*nt that hates my guts. We get in an argument, I turn my back on him and walk away and he ends up physically assaulting me for it. I threaten to sue and they fire me because of it. + +I complain to the EEOC, because I can't afford a lawsuit. We mediate and like an idiot I settled for 5k they offered me. I Payed my lawyer $400, Bought us a new furnace because ours was old and had broke down. I replace the kitchen sink, paint the house and did some other minor repairs. + +All said and done, and after working for nearly 2 years at that company I am unemployed, depressed and have nothing to show for it, Well except for a $1000 I have left from the settlement that I wanted to preserve and invest in something instead of spending it. + +&#x200B; + +I spend a couple month of freelancing and hustling trying to find a new source of income. And one day I am on some random forum trying to find a solution to a problem I have with my code (I have 13+ years of programming experience C++, C#, Asm and reverse engineering) I read the word Bitcoin for the first time ever. And the person talking about it made it sound like it's the next big thing and that it's going to do wonders for apps and payment systems. + +Other replies to that same post were talking about how it will make them all rich. I got curious, And on September, 2015, I google Bitcoin for the first time ever and I end up on Coinbase. I bought $5 worth of Bitcoin for shit's and giggles. Forgot about it for \~3 months. Then came back and sold it in October for $5.10. So I made 10 cents profit after coinbase's outrageous fees. And I thought to myself, This is great, I just made 2% with minimal effort. Greed kicked in and I started my quest to learn as much as I can about BTC. + +For the skeptics: + +https://preview.redd.it/jrz4ptp5z4b61.png?width=797&format=png&auto=webp&s=d91bfe7e49827ba274cfbb9fca57dc419bdd9e2f + +Edit: More proof for those that think I am a lair, full of shit and made all this up: + + +[LTC trades since 2017](https://preview.redd.it/oq9tm35lr7b61.png?width=3802&format=png&auto=webp&s=abc69c38e4f02976a625e6ecad246b54bbacf320) + +https://preview.redd.it/znrn5tgmp6b61.png?width=2698&format=png&auto=webp&s=9132a624df041e57060b163e31e5cc5747875e0f + +[2015 trades are no imported from the coinbase account in this SS](https://preview.redd.it/wgntzucyn6b61.png?width=2664&format=png&auto=webp&s=f10eecf91c6d771106a985de0ee0ea37929fb78f) + +Next thing I know I am on Coinbase Pro (Gdax at the time) and was instantly hypnotized by the insane volatility and price swings. I immediately start buying and selling, Without any knowledge about trading whatsoever. I made some money then then lost more than I made and now I have \~$820 left and I realized I am not going to beat the market like this. My orders were being front ran by bots (didn't know they were bots at the time) because they keep burying my limit orders whenever I post them and I don't get filled. Also fees for market orders were exceeding my profit so I end up losing instead of making money. + +Thinking like a programmer (a problem solver really) I thought to myself there has to be a way for me to do the front running. I do some googling. Learn about the exchange API. I fired up Visual Studio, downloaded some files/libraries and spent a few weeks creating a prototype that would speed things up and give me an edge. At first I used C# and it looked like crap but it performed well, And with the ability to place orders as fast as possible (and free limit orders). My balance started growing. + +Slowly but surely I kept improving the prototype over the years and it evolved into a fully functional trading platform. I eventually used Directx to recreate the order books locally (this part happened much later 2019-ish) because the exchange kept freezing and crashing when I needed it the most and low and behold, I had out done myself and created a fine trading platform [Here is the post were I first showed it to the world.](https://www.reddit.com/r/CryptoCurrency/comments/gqu05z/my_custom_made_desktop_crypto_trading_platform/?utm_source=share&utm_medium=web2x&context=3) + +Here is a video of it in action too: [https://streamable.com/3jl30l](https://streamable.com/3jl30l) + +&#x200B; + +One click insta buy/sell and everything was pre-calculated for me. All I had to do was pre-set the # of lots I wish to flip in each trade and click either the buy or sell buttons. + +&#x200B; + +Within a few weeks of the first prototype I was up from $800 to 8k scalping BTC's volatile market and I was ecstatic, I was over the moon, pun intended. However, The market was slowing down and it is now boring and I am not making any $$ and I was never happy that I could only trade BTC and LTC on Coinbase and was scared to trade anywhere else for fear of losing my money with all the hacks and scams that were happening almost everyday. But then I learn about a coin called Lisk. And the Lisk zealots managed to convert me and I end up joining them and opened a Bittrex account lol. + +&#x200B; + +By now I had spent 3k in life expenses and I have 5k left so I move it to Bittrex, And add Bittrex to my trading platform and go all in on Lisk at $3. I was convinced it is going to the moon and will make me rich. I go to my wife and beg her to borrow some money from her dad for me or max out a credit card or whatever the fuck she can do to get me a few more thousand dollars so that I could add more to my LSK position because I have no credit score history and no one would lend me, She was terrified and refused to help me. I didn't get a single dime. (Hindsight, I am glad she didn't :P) + +&#x200B; + +So there I was, Angry at my wife (I was wrong I know) determined to prove her wrong and show her that this will work and that I am not going to lose so I am trading like a degenerate gambler with my entire stack. Looking like a zombi from malnutrition and lack of sleep, But I pull through and grow that 5k into \~24k within roughly 1.5 months. Phew, I DID IT, I shout. looking at my wife. I FUCKING DID IT. I TOLD I CAN DO IT but you never believed in me. And my head grew bigger and bigger to the point were it wouldn't fit through the door any more. Meanwhile LTC is pumping like a mother fucker but I had no idea because I am not paying attention to anything else but my cash cow LISK. Now that LISK is slowing down (Re-branding delayed) and hype was dead. I sell it all. Transfer the cash back to Gdax and join the LTC frenzy. + +By now it's December 2017, And shit was Insane, It was lit, Everything was on steroids and $ signs everywhere. I was going all in on every trade (Spot trading) and with every trade and my account kept growing. First it was growing hundreds, Then LTC went parabolic and it was thousands of $$ with every click of the mouse. Every click of the buy/sell buttons I made or lost a few thousand $$. Never holding on to a position loser or winner. I catch the wicks (which were huge) and would flip it in seconds just to go back to fiat for fear of getting whipsawed and losing it all. + +&#x200B; + +By now I had grown my 24k into 100k within like 3 days at the markets peak (LTC at like $150+). The joy I felt, The happiness, The pride :) I was victorious and those 3 days were like a crazy epic dream. + +So now I am gloating and teasing my wife telling her how I did it all by myself and shit and thanking her for all the help she didn't offer. meanwhile, LTC is still pumping like crazy. But I was content, I had just broken the 100k mark and was ready to celebrate. but of-course life is never sunshine and rainbows. + +&#x200B; + +To my dismay, My wife asks. What about TAXES? I am like what taxes? I already payed the fees! (I am a foreigner so i knew nothing about taxes in the US of A) She said you have to pay capital gain taxes on this, It's like 30%. My face turned pale and my heart skipped a beat, I jump out of bed, go online and research capital gain taxes. + +And I realized she was right, I am going to end up paying at least 25% to 32% of my money in taxes. I felt like I wanted to cry and all the joy and happiness I had felt was gone (Hindsight I should have been happy even after taxes :P). But I decided to push forward and make the 32% that I have to pay in taxes to get to the 100k mark after taxes while the market is hot. + +so I cancelled the moon party and went back upstairs, Started the computer and started trading again. + +&#x200B; + +So now I am back at it, Still killing it making more and more money. This continues for a day or 2 more and by the time the crypto party was over and when LTC started the big crash from $400 to $150 I was all back in cash and I had made a grand total of 310k+ and 105k+ trades in about 6 months, Most trades were made in Dec 2017 and Jan 2018 on BTC, LTC and LSK combined. + +&#x200B; + +I at first protested paying taxes for weeks, No for months, because it seemed unfair to me. But the April 15th deadline drew ever closer. And our CPA scared me str8 telling me about all the fees and fines I would have to pay if I delay paying the IRS so I reluctantly agreed and paid all of my taxes to uncle Sam. It was a massive chunk of money to give away all at once and it made me sick to the stomach. + +&#x200B; + +And that my friends is the long-short version of the story of how I turned a $1000 into $300k. I hope to one day be able to tell a story of how I turned whatever I have left of the 300k now into a million $ or even better into a multi million dollar fortune :) + +I know some people did like 1000x better than me, But for my story, I am proud of what I had achieved so far and I thought it would be cool to share the story and to hear other peoples success stories. + +I still am still doing great in this bull market and trading crypto has been my full time job ever since I got fired from my job at the labels factory. I have grown a lot since. btw I thought about sending the owner of the factory that fired me a letter thanking him for firing me because it was the best thing that ever happened to me but I never did :P + +&#x200B; + +If you have made it this far. Thank you from the bottom of my heart, And wish you and everyone else the best of luck and riches beyond your wildest dreams. + +&#x200B; + +TL;DR: I turned a $1000 I got from a EEOC settlement into $300k+ scalping LSK and LTC back in 2017 bull market. + +&#x200B; + +^(Leave a downvote and a "delete" comment if you think I should delete this :)) +Title pretty much sums it up. Sister borrowed my car and missed a few toll booths on the highway. Got the tickets in the mail. Few months later got another warning saying i need to pay or it will go to collections. She then said she paid it. Got a letter this AM from collections saying i've failed to pay the ticket. She feels terrible and that she forgot to pay it. Do i have any options here or is this stuck as a hit on my credit? If she is willing to accept liability for the debt (she feels terrible and is)- is there any way to make that happen. This is fucked. +Happy, Eat more Fruits and Vegetables Day, Superstonk! + +Who better than your favorite pickle to guide you through this most important of Holiday's. + +Well I hope you have eaten them because today we're are on a rescue mission. According to some extremely unverified data there are thousands of apes waiting behind the 250 wall that need picked up on our way to the moon. + +[We will leave no ape behind !](https://preview.redd.it/rkzne1rfon171.png?width=627&format=png&auto=webp&s=c763ebfd011b4a1cd5a29bda3c84c6861c987195) + +We are coming for you... + +*As price action picks up today, I may walk away from the reddit post while managing positions, if this is the case you can find me on the stream and discord for a while longer at the links below.* + +don't be a dickle and check out the daily livestream [https://www.youtube.com/c/PickleFinancial](https://www.youtube.com/c/PickleFinancial) + +Or listen along with our live audio feed on [Discord](https://discord.gg/HbqnUVsSrH) + +(save these links in case reddit goes down) + +Historical Resistance/Support: + +116.5, 125.5, 132.5, 141, 145, 147.5, 150, 152.5, **157**, 158.5, 162.5, 163, 165.5, 172, 174, 176.5, 179, 180.5, 182, 183.5, 184.5, 186, 187.5, 190.5, 192, 195, 196.5, 197.5, 200, 209, 211.5, 214.5, 218, 226, 230, 234, 243, 250, 253, 256 + +*This Post will read from top to bottom, any images over 20 will be deleted as the day progresses.* + +# After Market Pickle Party + +Closed solidly above that 252.5 resistance. I am actually jacked to the titzzzzz. Thank you all so much for tuning in today and for the unbelievable amount of support you guys are actually amazing. Let's see if we can hit 300 for the long weekend as 5k more options are now ITM with plenty more to go as we keep ramping up. Seems like the shorts were saving the best squeeze for last... + +\- Gherkinit + +https://preview.redd.it/x5wv6ggyyp171.png?width=716&format=png&auto=webp&s=464b14deec8637ba3263a55f0d6858a853142372 + +Edit 8 3:32 + +UMM :) + +https://preview.redd.it/027i6aibtp171.png?width=1495&format=png&auto=webp&s=d20bdc54076e06021f6d5aec0b5cfa95b1a119b2 + +Edit 7 2:52 + +With interest in the market diverted elsewhere GME is running a bit low on gas but we crossed VWAP and I think we are looking solid going into power hour we've had no major dips and a test of 250 still seems likely. + +https://preview.redd.it/zclpm6agmp171.png?width=1636&format=png&auto=webp&s=2cadffd5b6fa1a8773351e93d7fd2781d2923da4 + +Edit 6 1:34 + +Looking to hold that bottom support line if it fails we can see a dip I don't expect we would drop below 220. If we get a bounce and some volume I'm still looking for the upward test at 250. + +https://preview.redd.it/cowzyiq98p171.png?width=1514&format=png&auto=webp&s=eb943a90bf6b8407d5aa76c8372a83e784ff11ab + +Edit 5 12:16 + +Slow climb back into this lower channel if we can retest VWAP and cross I could see another test at 250 before EOD. I think the shorts have about used the borrow for today. So not looking at a lot of sell pressure right now. + +https://preview.redd.it/ibc08lbduo171.png?width=1542&format=png&auto=webp&s=145b873f0229ad08b82541a5b18952a2226e9fc0 + +Edit 4 11:33 + +Falling slightly below the daily trend line volume at 7 million FOMO seems distracted by AMC + +https://preview.redd.it/hfn35aopmo171.png?width=1579&format=png&auto=webp&s=39402e749f9ffd915d833ea958df4a38f591be66 + +Edit 3 10:43 + +Small short attack there reverting us back to VWAP several sell walls going up behind the drop 5k at 245. Hopefully we can hold VWAP if it fails the test looks for a small dip. + +https://preview.redd.it/m83uafvtdo171.png?width=1184&format=png&auto=webp&s=92884d0d3891f356543e91ce45d88c1631152bdd + +Edit 2 10:16 + +Failed a double test of 250 looks like we are gonna consolidate and test again our volume is actually much lower than expected + +https://preview.redd.it/vk6x72709o171.png?width=1607&format=png&auto=webp&s=b2d0547591d31c7ba9f2ffc085f2b6e4a23e1726 + +Edit 1 10:00 + +Just smashed through 240 let's see if this can take us up into the 250 range we are currently looking bullish with decent buy-side volume coming in + +https://preview.redd.it/xy20sn3x5o171.png?width=1464&format=png&auto=webp&s=a4d6810155e2e477adc2c113fd6f37c20707d404 + +# Pre-Market Analysis + +Small Gap down in pre-market currently trading at $233.66 but I suspect we will fill that gap before market open or slightly after. 250K shares available to borrow on Iborrow and 616k on fidelity. With volume picking up currently at 183k. I think we are gonna be in for another interesting day as we continue the battle for $250. + +https://preview.redd.it/95eft5w7pn171.png?width=1522&format=png&auto=webp&s=08c716c1594081f6abb11e481b51aeb10636f740 + +As we know MACD and TTM are already firing and beginning their cycle of volume and volatility. Our last indicator has Triggered CV-VWAP the arbitrage indicator that triggered before the last 2 run-ups in January and February. + +[CV-VWAP on the 4h](https://preview.redd.it/36ssbwjlqn171.png?width=828&format=png&auto=webp&s=cf71c42b34bbe80abeba42796fc3e939f9c1cf15) + +This indicator also fired before the short squeeze on VW back in 2008. So I expect some crazy things in the next day or 2. + +\**This is not Financial advice. The ideas and opinions expressed here are for educational and entertainment purposes only.* + +*No position is worth your life and debt can always be repaid. Please if you need help reach out this community is here for you. Also the NSPL Phone: 800-273-8255 Hours: Available 24 hours. Languages: English, Spanish.* [*Learn more*](https://suicidepreventionlifeline.org/) +### Fidelity Released Zero Fee Index Funds + +The exploding popularity of low fee index index funds in recent years has been putting pressure on brokerages to push their index fund expense ratios even lower. About a year ago, Fidelity ramped up that battle when they released four 0% expense ratio index funds, including **FZROX** a zero fee Total Market Index Fund. + +### Expense Ratio War + +Here’s a look at a US total market index fund from each of the three major discount brokerages: + +| Brokerage | Ticker | # Stocks | Net Assets | Expense Ratio | +|---------------|---------------|---------------|---------------|---------------| +| Vanguard | VTSAX | 3,560 | $813.5 B | 0.04% | +| Schwab | SWTSX | 3,075 | $10.0 B | 0.03% | +| Fidelity | FSKAX | 3,454 | $46.5 B | 0.015% | +| Fidelity | FZROX | 2,530 | $3.8 B | 0.00% | + +### The Dirty Little Secret + +On the surface, the new FZROX looks like it just won the war on expense ratios. But hidden inside these new index funds is a dirty little secret. Take a look at their dividend distribution schedule. + +| Brokerage | Ticker | Dividend Schedule | +|---------------|---------------|-------------------| +| Vanguard | VTSAX | Quarterly (March, June, September, December) | +| Schwab | SWTSX | Annually (December) | +| Fidelity | FSKAX | Semi-Annually (April, December) | +| Fidelity | FZROX | Annually (December) + +### VTSAX Pays Quarterly + +Vanguard’s VTSAX stands alone as the only one of the bunch to distribute dividends quarterly. That means FZROX (and SWTSX) are sitting on dividends for up to a year before releasing that cash to the investor. Dividends make up an important part of the growth of a fund when reinvested. The opportunity cost of reinvesting those dividends annually instead of quarterly turns out to be (relatively) expensive. + +### An Analysis of The Annual Dividend Effect + +[This spreadsheet](https://docs.google.com/spreadsheets/d/10V3fVx7-XWLpIlal-_5g9scCmPyVBeKWmG6PU0CT0es/edit?usp=sharing) shows a hypothetical recreation of both FZROX and VTSAX over the past 40 years if they were tracking the S&P 500 index. It takes into account the expense ratio of each fund as well as the respective dividend reinvestment schedules. When you look at the net effect over 40 years, the cost of waiting to reinvest those dividends until the end of each year ends up costing FZROX more than the 0.04% expense ratio of VTSAX. An initial $10,000 investment turns into $714,671 for FZROX and $725,999 for $733,569, a difference of $18,898 or about 2.6%. + +### FZROX Costs About 0.15% Per Year + +For those hyper sensitive to expense ratios, this cost has the net effect of a 0.15% inefficiency to the market. Despite VTSAX’s 0.04% expense ratio, VTSAX only trails the market by 0.07%, less than half that of FZROX. As long as there’s positive growth, annual dividend reinvestment will always incur a cost to the growth over quarterly. The bigger the increase in share price and the bigger the dividends, the larger that effective cost becomes. + +### VTSAX Still King + +So with the largest net assets, the most stocks in the portfolio and the only fund to pay dividends quarterly, VTSAX is still king of the total US market index fund game. + +### Don't Chase Tiny Differences in Expense Ratios + +That said, the real lesson here ISN’T to dump your current index fund in search of an ever so slightly more efficient one. Even FORTY YEARS down the road, the difference was only about 2%, or a single good or bad day in the market. Instead, focus your energy on investing early and often and staying the course. One panic during a market downturn will more than wipe out any benefit a tiny decrease in expense ratio provided. + +### TL;DR + +Fidelity's new zero fee index funds only pay out dividends once per year. The opportunity cost of not reinvesting those dividends sooner is about **0.15%** per year. + +### More Info + +A while back I posted [five ways to max your IRA](https://www.reddit.com/r/investing/comments/c3813m/when_to_contribute_to_your_ira_an_original_study/). If you're a beginning investor or otherwise into this kind of stuff, join us at /r/personalfinanceclub where we break down investing topics into simple digestible examples. + +### Edit + +In regards to the top level comment about sitting on the dividends. I didn't mean to imply the brokerages actually hoard cash scrooge mcduck style for a year. I'm sure they're using that money, reinvesting, etc. But if that doesn't translate to an actual increase in share price, then there's still an opportunity cost to the investor. + +**TO TEST THIS**: I went back to the 14 months of data we actually have available since FZROX was introduced and tracked the exact share price and exact dividend dates and dividend reinvestment dates. You can see that work on the second page of [this spreadsheet](https://docs.google.com/spreadsheets/d/10V3fVx7-XWLpIlal-_5g9scCmPyVBeKWmG6PU0CT0es/edit#gid=1071632335). The FZROX share price HAS actually outpaced VTSAX's share price. But when you add in the dividends, VTSAX actually makes up for that and then some in the actual growth of the investment, outpacing FZROX by 0.008%. My hypothetical recreation of the last 40 years above had VTSAX outpacing FZROX by 0.08%. So, maybe FZROX is internally reinvesting in a way that impacts share price? But not enough to stay ahead of VTSAX's efficiency with the index and quarterly reinvestments? Also, this "opportunity cost of slower dividends" ONLY takes effect when the market is UP. If the market is DOWN, getting your cash later (and buying at a lower price) actually benefits the investor. And the market has been pretty volatile/flat for the last year which backs up my original hypothesis. +&#x200B; + +[If you don't get this reference, youtube it now and have it stuck in your head forever.](https://preview.redd.it/ez2mlqaofre71.jpg?width=1000&format=pjpg&auto=webp&s=c09021317ba9a6428c37c3f46ad2a93d40e1fd44) + +*\*disclaimer I type with my face and I cannot read, this is not financial advice and shouldn't be taken as such. I'm a stranger on the internet using this as my diary for MOASS. This is just data about a stonk I'm in love with and we rock each others worrrrrrrllddddd\** + +**MAJOR EDIT - In my sleep deprived state I messed up the calculations for float vs total outstanding shares. I had worked out 215% - 860% ownership on total shares outsanding after talking about the float. The real numbers could actually be 541% - 2166%** + +Good evening Apes, I've been asked for a while to post an update and at first I was worried that the info I would share would encourage day trading and also with how confident I am in the DD I just didn't really feel the need to make a new post. There are now a lot of new apes though who aren't as zen and probably are looking for that sweet sweet confirmation bias, so here it is! + +**1) A quick recap** + +https://preview.redd.it/vh8pdowfgse71.png?width=768&format=png&auto=webp&s=b53a51e9cc667d4f2b563b7ae3aec6fb087a5ed9 + +Michael Burry was the first one to notice that GME was an insane situation and was long on the stock way before any of us likely thought about investing in the company. Back in January GME had a reported SI% of 140% which is somehow the legal max, which really makes no sense at all. I don't think I need to explain his tweet anymore, there will never be another GME. + +&#x200B; + +https://preview.redd.it/bkcei5y9hse71.png?width=1650&format=png&auto=webp&s=01271ba682dba7226a5e6cbcc5dd56ec32f86415 + +I have nothing to really say about DFV but bringing up Burry for raising awareness on GME, it didn't feel right not mentioning DFV and also mention that this isn't just dumb money FOMOing into a random stock there is a ton of incredible research by thousands of (if not more) people. Look at the top posts all time on Superstonk to get a look if you're new there is so much stuff here worth a read. + +**2) The Float - with a little bit of volume.** + +[American dates don't do a confused scare euro apes. ](https://preview.redd.it/2uiuf9841se71.jpg?width=2388&format=pjpg&auto=webp&s=5c1ec4a8e98f91e6c6ebf841025c1c53287e55cd) + +[credit u\/bwajuk ](https://preview.redd.it/z1fhfyq51se71.jpg?width=2388&format=pjpg&auto=webp&s=bd535ba511b1c25fe666ecae005327debd45797f) + +This info is now slightly outdated but I really like how it breaks down the float which is why I've still used this info, since this graphic was made GME has completed two share offerings, offering a total of 8.5 million shares which raised over $1B in capital, not sure if you know anything about companies or if you're just here because you like the stock but when you have a cash reserve of over $1B dollars and no debt, it's pretty hard to go bankrupt. + +Quick maths +**21,992,039** (float from pretty picture) + **8.5m** = **30,492,039** + +Since January a total of **3,303,252,094** (**3.3B**) GME shares have been traded on the NYSE an average of **22,939,251** per day which is **75.2%** of the total float, **30,492,039.** + +So either every single retail investor who owns GME has bought sold and then rebought 0.75x a day for an entire year or someone has shorted this to oblivion and is going to get hammered to helheim by Odin himself. So everyone quickly look at your hands... You saw diamonds didn't you? Fantastic job! The hammer theory checks out. + +So we now know the float is roughly **30,492,039** and we know the volume for the year is 3.3B we can speculate retail ownership. Keep in mind total volume is shorts, longs, buys and sells it not just amount of people buying shares. + +**Speculative Ape Ownership of GME** + +5% of **3,303,252,094 =** 165,162,604.70 million shares. + +Total amount of GME shares that legally exist = **76.82M** + +So **IF** Apes accounted for 5% of total volume they would own 215% of ALL outstanding GME shares and 541.66% of the float. + +Now I hear you saying there is no way retail could be 5% of total volume.... + +[Sauce: https:\/\/www.proactiveinvestors.co.uk\/companies\/news\/943354\/retail-traders-now-account-for-more-us-market-volumes-than-mutual-and-hedge-funds-data-shows-943354.html](https://preview.redd.it/gekxyd1r9se71.png?width=906&format=png&auto=webp&s=048e5cb8d72e45b85f49101a0c3b5b221bc7ede3) + +**Did you say over 20%?????** + +&#x200B; + +[Give your stonk a good ole rub.](https://preview.redd.it/rlx6d1t7ase71.jpg?width=400&format=pjpg&auto=webp&s=9bdc75d097269849b6b2673417414c3b5acf50b1) + +**Speculative Ape Ownership of GME - continued** + +5% of **3,303,252,094 =** 165,162,605 million shares - 541.66% of the float. + +10% of **3,303,252,094 =** 330,325,209 million shares - 1083.32% of the float. + +15% of **3,303,252,094 =** 495,487,814 million shares - 1624.98% of the float. + +20% of **3,303,252,094 =** 660,650,418 million shares - 2166.64% of the float. + +So **IF** diamond handed apes accounted for this amount of the total volume retail could own somewhere between 541.66% - 2166.64% based on current figures, as this is retails most popular stock and has been for some time even the top estimates here could be conservative but as this is already speculating I'm not going to continue to jack your tits, plus you are all very friendly with your calculators now, you do the math for higher than 20% if you want. + +&#x200B; + +[More confirmation bias but with crayons.](https://preview.redd.it/jaacx755fse71.png?width=1175&format=png&auto=webp&s=a2d19d2fd649c79b07a90137ca5c3d2fb8711f1b) + + "But how big is the surge in retail trading? Analysts and executives say it is difficult to peg an exact figure, but here are some numbers to put it in perspective: + +\* 25%+: The percentage of overall market trades made by retail investors in July and August 2020, according to Virtu Financial, one of the world’s largest retail market makers. In January 2020 retail was 17.1% of the market. Virtu’s data only goes to November, but retail investors appear to have played an even bigger role in 2021. Jefferies analyst Daniel Fannon said on Friday retail can represent up to 32% of total U.S. equity volume." + +**3) Volume for 2021 by month** + +Total volume for Jan was crazy. + + +https://preview.redd.it/3t7s91zlnse71.png?width=1550&format=png&auto=webp&s=e322406bb5d8f8abe64cc50036a1ed7c18e22182 + + I'm sure you noticed some pretty colours! Thank you for noticing but let me quickly explain them. + +Any loss GME made in a day is marked as red or light red 3 if you want to be fancy. + +Any gains GME made under 5% in a day are orange (light orange 3) + +Any gains GME made over 5% in a day I classed as meme stonk gains and they are of course marked light green 3. + +This isn't a joke, four days with well over 100m shares traded in a day. This was a gamma squeeze and the real short squeeze was about to start however retail was locked out! Buying was turned off but shorting continued. The price yoyoed from $70-$500 per share. + +&#x200B; + +https://preview.redd.it/izc6ml6dyse71.png?width=1535&format=png&auto=webp&s=968fbb53b851279ee6e64ffc302612c962b00610 + +The day that confirmed everything for me that the shorts haven't covered, GME bounced from the $40s to $180. What a fucking 24 hours that was. + +&#x200B; + +https://preview.redd.it/kemilyixyse71.png?width=1375&format=png&auto=webp&s=51eec7a71bc8d6865e785afba2d6c99174e0d086 + +Notice the short interest, not only have they not covered but hedgefunds started shorting everything heavy to try and supress the price. + +&#x200B; + +https://preview.redd.it/i2eqb3wxzse71.png?width=1531&format=png&auto=webp&s=348526bd26828eeb3d6e9a4e9b043638e9dec4b5 + +April seemed to be the start of excessive darkpool usage but towards the end of the month as the T21 cycle kicked shorting then had to ramp back up heading into May. + +&#x200B; + +https://preview.redd.it/0k4p0rl47te71.png?width=1523&format=png&auto=webp&s=0d7951ae89a4bdefa40a6e1d5dcb946dc104fc05 + +A new record high for short percentage and a record low for volume. Full disclaimer here during this run up I had called a cup and handle pattern a few weeks before and once we started moving up pretty swiftly towards the end of May I started taking more days off with collecting data which is why you can see I've got gaps here vs previous months and for June even more gaps. + +&#x200B; + +https://preview.redd.it/e472kj8o7te71.png?width=1316&format=png&auto=webp&s=b5bc83dc40afb2696ea6a204ec28dfc58c289bb1 + +Grey area is data I'm missing, if you have it and don't mind sharing that would be great and I will update this. July I have pretty much a full month for as during June I was getting asked a lot of questions by apes who wanted an update on old DD. + +&#x200B; + +https://preview.redd.it/jgkot3338te71.png?width=1327&format=png&auto=webp&s=ff92f25f1796894496eb9d7554b05ab8a8e26c09 + +And July! Smashed the record high for Short percentage and the record low for volume! This makes me very bullish for August and as a result I have been buying as much of the dip as I can and I'm looking forward to buying again on Monday. + +The volume data shows what GME looks like during a gamma squeeze and what it looks like through naked short attacks, dark pool manipulation and just general fuckery. The important thing to remember is that short positions don't have to be covered, they have to be closed. When you start covering a short position the price goes up as you are forced to BUY, it is impossible for hedgefunds to have covered or closed positions as the price is wrong and hedgefunds continue taking further losses. + +**4) Options data proves they haven't covered/closed out** + +Melvin capital and other hedgefunds planned to cripple gamestop, if gamestop went bankrupt they would hit the "bankruptcy jackpot" saving them on having to pay any tax on the money they would make on their puts and shorts, this is why and how GME was naked shorted so heavily, to avoid paying tax. Just look at the strike price on these puts and the amount of Open Interest. + +**Important to note every contract is 100 shares.** + +[April 21 - $0.5 - $10 strike price with OI of 228,077 = 22.8m naked shorts](https://preview.redd.it/h63nbg6gate71.png?width=1104&format=png&auto=webp&s=03de55e25b16346dc50ec8eb924a012a44079f37) + +&#x200B; + +[October 21 way out the money puts, there are more](https://preview.redd.it/acbxpaezcte71.png?width=1101&format=png&auto=webp&s=cdc639384ffe5a1dc85839982a23f76a89c306b9) + +&#x200B; + +[November puts\/hidden naked shorts](https://preview.redd.it/wzyxsy92dte71.png?width=1116&format=png&auto=webp&s=4d9fc44ab46e8b5275664bab05eb525b80faf8ed) + +and the big boi..... + +&#x200B; + +[ooooooooweeeeeeeee](https://preview.redd.it/eegnqdz8dte71.png?width=1131&format=png&auto=webp&s=5a24265af7151ffa5c958935268525548b8ba3f4) + +I was going to go into the market crash and why GME having a negative beta was important but this post has already gone on so long I don't want to melt brains with more data and I have tried to keep this as simple as possible. I will make another post to cover the crash/negative beta and try to keep it as simple as possible. + +Thanks so much for going through this post! I haven't gone into crazy detail explaining anything as I believe data is king so if you have any questions about the data feel free to ask either comments or DMs. + + +TLDR: There is a lot of DD, a lot of speculation, amazing theories on reddit and for the newer apes this is the data that will confirm a lot of it for you. You'll be able to see what holders from 2020 or early 2021 have experienced and why these holders like myself are so zen. Hedgies haven't covered/closed they are fucked. Apes set high scores. + +Keep calm, hold strong and power to the players! +Tesla (NASDAQ:TSLA) is set to maintain a reduced production schedule at its Shanghai plant to start 2023, per Reuters. + +According to an internal schedule viewed by the outlet, the automaker will run production for 17 days in January between January 3 and 19 and then will stop EV output through the end of the month for an extended Lunar New Year break. The schedule cuts continue production pullbacks pursued to close 2022. + +Tesla (TSLA) had previously pushed back on reports of production cuts, calling the details of the reporting in early December “untrue.” Tesla did not respond to requests for comment on the latest reporting. + +Tesla (TSLA) shares edged 5% lower in premarket trading on Tuesday. + +Source: Seekingalpha +The market keeps going down but these low floats SAAS stocks TWLO, MDB, WIX, TTD, SHOP, VEEV, TEAM, HUBS just keep going higher. Some of them are trading at P/S of 26/28 times and have no profits. Most of them have gone straight up from 100-500% in last 12 months + +TWLO diluted last week 5% week but stock goes higher. + +VEEV, SHOP trading at P/S of 25+ + +Any idea what is going on with these? + +I just know it's not sustainable and the bubble will burst and they all will lose 30-50% +Salvadoran here!! + +President Bukele just announced that he is implementing a national wallet in September called “chivo” (means cool in Salvadoran slang) + +The government is giving 30 usd to anyone that creates an account, by law you will have to accept BTC as a company... but the wallet let’s you convert the BTC to usd immediately. + +He mentioned there will be two types of wallets... one for the people and one for companies. + +Apparently the wallet also is compatible with other Bitcoin wallets... + +You will be able to pay taxes with BTC... except you won’t need to pay taxes for the BTC you hold. + +Foreigners who come to invest in crypto in El Salvador will be granted permanent residency and will not have to pay taxes for the crypto they invest in. + +So anyone who wants to come to El Salvador to invest is welcome to eat some pupusas with me!!!🫓 🇸🇻 + +Hope everything goes chivo with this one!! +In a couple of months I’m going to be receiving a large amount of money (low 8 figures). My current net worth is low 7 figures and so this will be a significant change. + +While I’m prepared from the pure financial side of things in terms of taxes/investment I’m looking for advice on other things that I should do to prepare. My family and I aren’t planning on making this public (some people may have some guesses that money is coming our way but likely no idea of the scale) or changing our lifestyle. We already live pretty far below our means and will continue doing this for awhile. + +For example, things that I’m thinking about are: + +- get umbrella insurance +- get a security system +- sign up for credit monitoring / identity protection +- update estate planning + +But I’m wondering if there are things that matter at this scale that I’m just not thinking about. Would love any advice people have here - particularly people that have gone through something like this and can share their experiences. +For context, my dad’s friend recently sold his home for 1.5 million. He then bought a house for £650k, and basically instantly regretted the purchase. He’s discovered parts of the home that he just hates. It is maybe relevant that this person is 92 years old, but very much “with it”. My dad is 79. + +The friend is now on the hunt for another house to purchase, but potentially willing to sell the home to my dad for $350k. I just wondered if that would even be legal. Essentially this person would be gifting my dad £300k I suppose. Any thoughts or insights would be much appreciated. +So, here’s my info - any thoughts, advice would be appreciated. + +Both my husband and I work. 2 kids - elementary and middle school. + +TC: 500-600k/year. After taxes, maybe 300-350k? + +Total expenses: 90k for mortgage and prop taxes (hcol). 10 year mortgage will be paid off in a few years. + +2 cars paid off. + +Other expenses: 60k - 70k per year (utilities, food, entertainment, vacation, etc.). + +Save about $150k-200k/year. + +Don’t live an extravagant lifestyle at all, and not completely frugal either. Average-ish maybe? More on the frugal side if anything for this forum(basic economy flying, <$200 hotel room nights, etc.) + +NW: 4MM (2.5MM in retirement accounts (mostly in his and my 401ks, some in iras and roth iras) and 1.5MM in regular brokerage accounts, mostly in SPY and a regular bank acct). + +Above does not include home equity or funds earmarked for kids college costs. + +Neither my husband nor I like our work much, but could maybe hang on 6 more years if needed (i’ve been there over 25 years already, with most of the frustration really starting the past 5 years). But if I stay there 6 more years, I get a pension of about $70k/year. Also some additional benefit of more equity vesting. If i leave now, the pension would be about 40k/year and i lose my current equity (about $500k?). + +No pension for him. I don’t see just 1 of us working - it seems to be both or neither. + +After the house is paid off, my expenses would be about the current $60-70k/year + 20k property taxes plus 20k in health ins = 100k-110k/year. Plus maybe more because i want to be “less frugal” and maybe travel more than the current 2-3 times a year. + +So the choices seem to be both of us retire now with 4mm NW plus 40k/ year pension or suck it up for 6 more years and retire with 5-6mm NW plus 70k/year pension. Moving to LCOL not an option right now. Splitting the difference and working 3 more years or anything else in the middle is an option too, but the incremental pension doesn’t grow linearly and the equity is all or none. + +Thoughts/advise? +[On July 7, 2022, Diana Saadeh-Jajeh was announced to be the new GameStop CFO to replace Michael Recupero.](https://news.gamestop.com/news-releases/news-release-details/gamestop-announces-cfo-change) There is nothing to be alarmed because this has been a long time coming. SEC filings report she is a long-time GME employee and has been already in this role for a while. + +https://preview.redd.it/gyetcal6boa91.png?width=2795&format=png&auto=webp&s=cac654b6a8362c3439ef188fccb518dfce79f835 + +[Saadeh-Jajeh was first employed by GME in June 2020 as the company's Senior Vice President and Chief Accounting Officer](https://www.sec.gov/ix?doc=/Archives/edgar/data/1326380/000119312520186820/d945144d8k.htm). + +https://preview.redd.it/ilg5tzpw9oa91.png?width=2132&format=png&auto=webp&s=306fd39454929c84ce72a69d2df6339b94020855 + +She assumed the position of Senior Vice President and Chief Account Office when Bell was fired. + +https://preview.redd.it/jgad5kqkdoa91.png?width=2092&format=png&auto=webp&s=61cdb2c35f54aab14f69e8ad897f7cf1ddc8df23 + +[Beginning March 2021, She has been working as GameStop's interim CFO](https://www.sec.gov/Archives/edgar/data/0001326380/000122538521000131/xslF345X03/edgar.xml). + +https://preview.redd.it/yid4omtmaoa91.png?width=3775&format=png&auto=webp&s=43f4f66eeaff0674a753a47d0e1fe6bda7ded1e6 + +She worked in that position until [Michael Recupero was hired as CFO in July 2021.](https://www.sec.gov/Archives/edgar/data/0001326380/000132638021000066/gme-20210501.htm) It would appear GME waited a year to fire Recupero as a formality and promote Diana Saadeh-Jajeh to CFO. + +https://preview.redd.it/80ezdq28eoa91.png?width=1845&format=png&auto=webp&s=250495d74ef9d1b70908ad1fa13bef67b9fa98e2 + +If you have a company looking to hire a manager for a team which meanwhile has been autonomously successful at achieving goals, you do not search outside the company to fill this role. You hire internally and promote the ones that have stepped up and assumed the leadership position. + +[Work is so sexy](https://twitter.com/ryancohen/status/1533719752568446976?s=20&t=ixaMLb-vfGE9z33mkb7wWQ) + +https://preview.redd.it/y3cj2xboboa91.png?width=1027&format=png&auto=webp&s=124333eab7f7931fc08efd085b62bf6b817f228b + +Edit: + +* Added Recupero's start date + * Saadeh-Jajeh was not interim CFO during Recupero's employment + +&#x200B; + +Thoughts: + +People can crush resume building and interviews but turn out to be crap hires. This may be a reason as to why Recupero was hired but later let go. He just wasn't a good hire. It happens all the time. +I've been thinking of dental school pushing the age of 40, leaving a career making 120k. People have been telling me the ROI is crazy negative assuming 300k in dental student loan debt, but my numbers show it's all wrong. + +People are calculating dentist salaries using google as "150k", but the dentists I've shadowed make somewhere between 280k-450k as owners, and 600k-800k as specialists. I believe the difference is caused by using tax information, where the owners are giving themselves the lowest possible salary of 150k as allowed by the federal government. + + Assuming I made \~300k as a GP owner, and it took me 5 years to get there at 150k associate dentist salary, wouldn't I come out far ahead working this job from 40 to 65? +When I was deep in poverty and struggling, there was nothing available regarding a safety net since most social services in the state I was in (Texas) required that you had dependent children. Thus, I ended up homeless as a result. And I always fear it might happen again. +We are getting close. Normally on a day like today we would be double the percentage as the major indexes. Today we are hanging in there better than the Nasdaq. + +No matter what I HODL and I couldn’t be more proud, and excited to be in this with all you apes. You all are really inspirational. This is easily the best thing I have been a part of in my life. + +MOASS IS TOMORROW 🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀 +I started my quest in selling options about three moths ago. I don't remember how but in surfing Reddit I stumbled upon r/thetagang. I come from years of thinking 'just by mutual funds and forget it.' + +After doing some reading here and watching some YouTube videos I wanted to make my first trade - I had recently opened some long stock positions and wanted to sell covered calls. There was a big mental block - like fear of not having enough knowledge - that took me a few weeks to overcome and pull the trigger on my first trade. In the past three months I've made about five to ten trades per week. I've learned so much by doing. I remember early on hearing something on a tastytrade video saying that activity is better than doing nothing. The more activity the better. Now I'm seeing the wisdom in that. + +Areas I need to grow in: + +Managing losers: In the past few months I've sold may CCs and CSPs, but I've never rolled a position. It's not because I shouldn't have, but because I haven't acted upon it - thinking it might reverse, or thinking that being exercised isn't so bad. I need to change my ways there. + +Forming portfolio and trading guidelines and a plan: For example, maybe 60-75% of portfolio is for wheeling core holdings (max 6% per position), 0-15% is for high-IV playes & memes (max 4% per position), 0-25% is cash to jump on opportunities (like adding to core position during crashes). Something like that. It would have saved me some trouble recently. + +Journaling: I just started making notes about my trades. Just what I was thinking when I opened the trade - reason, expectations, plan. I currently have a few stocks that I bought a couple of months ago that I don't even remember the reasoning behind. + +I’ve had a few fun wins, like making some quick bucks on selling LQDA puts, ISEE puts, or a quick jump on something I saw on r/shortsqueeze. But the most satisfying wins for me have actually been the most boring. A great example: On June 16 I bout 400 shares of WBD (Warner Bros Discovery) and sold my first CC on July 7. Since then on WBD I’ve opened and closed 6 CC positions and am on my 7th. The DTEs have ranged from 7 to 22, with a median of 10. Although I'm down $0.67/sh. (including today's drop of $0.39), my gains on the CCs total $1.96/sh. (including and assuming my current CCs expire worthless this Friday). On my WBD CCs (as a percentage of the cost of my underlying WBD position) I’ve made 14.4% (108.2% annualized). + +I really enjoy wheeling dividend-paying stocks. Something about having that dividend hit is very satisfying. + +I log all my trades in an Excel workbook I created. It shows me all pertinent info, and I've linked by equities positions worksheet to my options worksheet so I can see options activity (premium from CCs closed, expired, or exercised against me, CSPs exercised against me (to reduce initial cost)), on the row with the stock. In that workbook I also keep watchlists. + +Other note - I've bought calls a couple times and lost each time. + +Questions: + +Question 1) Almost all of my stock and options ideas have come from Reddit (r/dividends, r/stocks, r/wallstreetbets and other subreddits). My style of finding ideas is by reading various opinions and DD on a particular stock and assembling information and sentiment data based on various writings. Then checking financial info (P/E, dividend info, earnings dates, basic TA, etc). Then enacting a strategy. I think another source that would fit into my style is Seeking Alpha for its variety of opinions and abundance of user comments on articles. Not sure but considering subscribing. Question: Does anyone else form trade strategies primarily based on comments and DD of other people on platforms like Reddit? Is this strange? + +Question 2) In addition to wheeling, and based on what I’ve written, what should be the next options strategy I learn and practice? I'm working with a $90K IRA. + +I very much enjoy and appreciate the content I find here. + +Thank you. + +Edit: I forgot to mention that I’ve sold a couple of covered strangles and really like them. +This will be a super long post, but hopefully a good read. + +At the beginning of the year, I had a newbie option trader ask me if I thought this guy knew anything. "He sounds like he really knows something about options trading" are the words they used. + +I checked him out on a link they sent me, watched a lot of videos at 1 x and then 1.5x and then 2x speeds to get through the nonsense. A lot of the videos were the normal standard basic options information. + +conclusion: Typical Internet trading guru, along with the self promotion of his guru books, and his new platform and trading strategy. They are always wanting to sell you something. SO after a few hours I had a good idea of what he was about. + +The one thing that intrigued me was his new Wheel trading strategy series that he was starting. + +Would he be transparent on the trades, show enough information to follow and see if his claims hold up? + +I told the newbie trader not to pay anything to him, but to watch this series and learn. Most likely it will be not how to trade, but it would be better to watch and learn not to trade like this. The newbie gave me a link near the beginning of February. By that time he already had 6 videos on the Wheel Strategy account up. he was postiong about once a week. + +Link to youtube play list: [https://www.youtube.com/playlist?list=PLBa3sAx-Io2kQMFb5UaY9mLx8kH7MOye0](https://www.youtube.com/playlist?list=PLBa3sAx-Io2kQMFb5UaY9mLx8kH7MOye0) + +I had a lot of issues after watching the first 6 episodes which I told the new trader. The supposition of this trading account, is to prove that you can make a living off of the wheel. So it would be a real world example to prove that you can live off the wheel or not. + +My Issues after the first 6 episodes: These issues are why I stressed watch and learn, most likely, learn not what to do. + +First 250k cash and claiming 500k. This told me he was already planning on being way over leveraged claiming trading a 500k account when it is really only 250k in real capital. This is just blatant mis-stating and a red flag for potential of blowing up the account. + +2nd the goal of generating 15k a month. That is 180k a year. He likes to live well off. Who wouldn't like making 180k year without doing anything but selling a few options. If you used his 500k claim that is >35% annualized return on the account. Possible in a single year, but sustainable to live off of for the rest of your life? No. Now using the actual capital of 250k it is still >70% annualized returns. That is pie in the sky, blatant lying. Red Flag #2 that this account is most likely to blow up trying to keep that promise, but since this might run only a year to prove a point we might never know. Rest of your life can be a long time. So 1 year is short and you can sellout and close it if it works and make the claim for years as you sell your books, and trading strategy off of this series. + +3rd, He didn't show all trades. He might have shown more in his "paid" daily trading room. But not in the video's he posted under this series. He uses TastyWorks. I have a Tasty works account and know the platform well. So the screens he showed I could gather a lot of information. The first few episodes you would get a nice screen of his open positions, and then on the summary month activity you could see what he traded at least. Just not actual trade details. The red flag were his stock picks. Remember this is Jan-Feb pick anything and most likely it will work. Still the picks I saw for the most part. Low liquidity, high IV. Red Flag #3 These are high risk trades he is making to achieve the outsized gains. + +4th from his Jan 15 and Jan 29th videos I was able to calculate is BP being used in the account at over 60%. If we suffer a 5-10% market correction this account is blown up. In all likelihood at this point., this only confirms that he is willing to leverage to really unsafe levels. Red Flag #4 + +4 big red flags after just 6 episodes. This will be fun to watch for the rest of the year. + +Jan closed he withdrew 21k. It's what he actually earned. Realized gains on the tasty screen showed the 21k. Verified gains. This took his net liq back to 250k. Everything working to plan. + +I did notice at this point that he did have two accounts exposed for this in Tastyworks. His powerX 25k account, and his 250k wheel account. The size of the accounts were so different, I only took note. Nothing to raise a flag on. + +Feb appeared much like Jan. The Euphoria was still running, but we had realized a few shocks at this point. Still his realized gains matched on the screen and he pulled out 26k. 2 months in and he's 17k ahead of schedule. See this is easy, you can live off of 250k. I did track what I could for numbers in a spreadsheet for each episode. What he showed what he didn't and tried to work back to a reasonable number on net liq. Theory here since he is with drawing all of his realized gains then net liq should always hover around 250k. That original Cash balance he started with. + +If you remember last feb we started getting the first concerns about the fed thinking about raising interest rates and possible inflation. SPAC's, anything that was interest rate sensitive, all took hits around the last week in Feb. In the 3/1 video there is a screen shot where the unrealized P&L for the month reads -15k. Realized gains were 26k for the month, So my net Liq calculation put him at 234k. Just a ball park, but definitely below 250k in capital. Not a red flag, but just a warning. trades can go bad it's part of the game. He's up 17k so has some cushion to work with. 2 solid months. + +At this point I want to say, things have been fairly transparent. At least enough is shown that you can fill in the blanks and get the picture. We have 10 episodes and we have a good understanding of what he is doing, almost on a weekly basis. The wheel is looking good. 1 bad trade, but nothing that will take down the account. + +Another thing, with all of his talking you can piece together his thoughts on his style of trading. 4-5 positions at a time. With his willingness to call 250k 500k. We know he is willing to use 100% of his cash. This means he is willing to risk 20-25% of his portfolio into a single trade. This is a definite risk factor. I won't call it a red flag, but it can turn into a red flag if a trade goes bad. Really bad. + +The mar 12th video is the first time he leaves out details. He did not show his open positions for this video. He did mention he was having issues with his ride trade that he would most likely get assigned. Quick calculation by looking at the week before, This is a 30k loss. Unrealized, but still a loss. If I was going to guess his let liq is around 200k, down 50k from the beginning of opening the account. He has gains that he took out, but his working capital is shrinking. This is the halfway point of all of the video's posted. From this point on there will be less video's posted. + +April 5th, market has stabilized and has started to recover from the march sell off, he does do his march recap. From screen shots we can see he has a real realized income of 16k. And an actual net liq of 207k. Unrealized losses are sitting at (-58k). BP used is 45%. On one hand he is still meeting is target goal of greator than 15k a month, but the unrealized losses are a drag on future earnings. Not a blow your account out, but definitely a drag on what you can earn in th future. + +April 19th he purposefully hid available buying power, he also introduced his "rescue missions" on trades that have gone bad he's willing to double down, but only by buying in 1/3 at a time of the original cost. Theory is that it reduces the cost low enough. This is a super red flag in my book. You are throwing good money after bad. Opening yourself to even larger losses. At this point I estimate his ride unrealized losses are at 60k. I can't guess at his net liq, but it's below 200k. Just not enough information shown in this show. + +May 3rd, if April 19th was bad at not showing anything. May was the worst. He showed the withdrawal from the tastyworks account site not the trading platform. He showed some open positions, but they were from the powerX account and not the Wheel account. Red Flag 5. No longer transparent when he's suffering losses. Starts to hide information so that he will not look bad. At this point, it appears he's just drawing down capital and not really making money. He withdrew 9k, first sub 15k withdraw. Still he's withdrawn 72k which is 12k ahead of target. his argument is the wheel works. At this point, all we can do is wait and see. + +June 1st, yes 1 month with no updates. The Open trades which he didn't show must be bad, still he opened up but doesn't display the YTD P&L. Net Liq is above 200k. SO if we work back, net liq, the withdrawals take. YTD P&L should be about 32k. So down about 50k in unrealized losses. It's being hidden from the user to see. but based on what is shown this is a decent guess at the unrealized losses he is carrying. 14k in realized gains, yet there is a 20% loss sitting on the books. At least no new red flags + +june 25th not quite mid month, but not month end so a bonus posting compared to as we go forward. June was a good month overall. You should be able to show gains. Net liq was not shown and enough info was not show to calculate. What was shown was YTD P&L and unrealized losses. 67k unrealized losses, 97 in realized gains, net 29k in gains. with 72k withdrawn that is still putting net liq around 200k, so capital is down 50k. + +July 5th, wow actual realized gains shown like last month, this time 22k. Thing is,. some of these gains are really just lowering the underwater cost of RIDE. So not really a realized gain, if your are applying it to the cost to lower your cost and reduce your unrealized losses. I consider most of this 22k withdrawal just to be a reduction in capital. Net liq was shown and still around 200k. It only reinforces that no real money was made this month. Unrealized losses have only increased. Just think, June was a good month to make money, yet the account is basically flat. + +Aug 5th, nothing was shown. Only showed a selected underlying and it's P&L for the month. There are some real losers out there that he is not showing. July was a down month. Another serious pullback, so he has probably added another loser to the list. Just not showing. Your guess is as good as mine at this point what the net liq should be. he still maintains that he can take out 16k beating the 15k minimum. I don't really think he met it if you required minimum net liq requirements. Just another drain on his capital. + +sep 2nd. Again a lot of not showing anything. This time he uses the orders sold and uses that has his realized gain. He sold 14k in premium for the month. This is just an outright lie. The only saving grace on at least some information was inadvertently shown is the realized and unrealized P&L 151k realized, 120k unrealized losses, net P&L 31k. If I was to guess at this point net liq is at 150k. It should be 100k higher if you want to do this for a living. + +Oct 4th, same chicanery as the month before. This time the layout has been changed so that cap requirements on a trade are no longer visible. You can see the open positions but all P&L information is missing. This is the last Realized P&L and unrealized P&L shown. 160k realized P&L, 154k unrealized losses, only 6k made YTD net. took out another 14k based on option sales. No realized basis for the withdrawal. Just another capital drawdown. Right now 155k has been withdrawn. Based on the losses and the funds taken out. maybe net liq 100k balance which most is tied up in stock ownership. Ride has been tearing him up, and the market pull backs have placed him into a few more losers, but we don't know since they are not shown. for the P&L on the stock holdings. + +Nov 8th video, nothing really shown, we know what stocks are open, but cost, P&L, Cap Required, nothing shown. He doesn't even try to go over what he can pull out. My guess at this point he might have 20k in cash. Net liq under 100k. Any cash is being used fully to sell puts to generate some cash flow to offset the mounting losses. So withdrawals are still at 155k YTD. From october 4th earning are basically breakeven. 100k in net liq, hopefully, any free cash is covering sold put options. he can't withdraw without triggering margin call. My best guess. + +This brings us to now, November rebounded strongly, just not in ride or his other losers. Those stocks are down for the count. Most likely for years. that leaves us with the 20k in cash. Even best case he might have generated a few K not 15k he would need. Black friday was a down event, everything went down just about, ride and his other listed went down just as much or even more. Last week the moves intensified. 12/3 was a peak down move. That close, based on what he was owning, could have triggered a margin call. We are now past the 8th and no update on this series. Even if he posts a miraculous 15k withdrawal. the account is in no shape to continue into next year sustaining the 15k a month withdrawals. + +I have no issues with the wheel in general. It suits people, especially when you come from only buy and hold. Buy and hold is taught to everyone at every almost every level of education. It's the basic given in our society, and wheeling only builds on top of this. The dangers lie in yield reach, unrealistic expectations, and convincing yourself that you would not mind owning the stock, for whatever reason. This series exposes all of the risks and how easily someone can justify the moves. + +These dangers don't exist just for wheelers but all option traders. Yield reach is a big danger, unrealistic expectations is just as big an issue, even if you don't plan on owning, roll til right still sucks up capital that doesn't earn you anything. + +just looking at the october video [https://www.youtube.com/watch?v=UUrCb19SLRM](https://www.youtube.com/watch?v=UUrCb19SLRM) + +We can safely assume that this year he has made more money off of his subscribers than he made trading the wheel in this account. the total account P&L was only about 6k. Still I'm forced to guess where his balances lie, but based on what was shown it's very close to being a blown account. + +u/scottishtrader tagging you for your opinion on this if you want. +Still relatively new to thetagang but would like to give my 2 cents when it comes to theta farming based on what I've learned throughout the last few months. + +As the title suggests, waiting is the hardest part; not just in theta gang but trading in general. Ideally we should have our trades planned out before market open and wait for the setup to come to us based on whatever our strategy is. But most of us, myself included tend to fall into FOMO or get trigger happy whenever we stare at our screens for an extended amount of time. + +I find that the best way to counter this is to just step away. Not saying you have to turn off your computer or log out of your app but just try to not keep staring at it. Those 1 or 2 cent moves will take what seems like forever to reach your ideal target. Set an alert and go do something else. If it hits great, we're in business. If not, there's always another day or another trade. + +For those who journal their trades, look back at some of that data and compare the rate of success for trades where you actually followed your plan versus the ones where you pulled the trigger early/late, or just willy nilly. I can almost guarantee that if your strategy is sound, chances are the patient trades will have a higher success rate. + +Sure, there will be trades that you'll miss out on but this shouldn't phase you. You've formulated a plan and executed it flawlessly. Whatever happens afterwards is no longer your concern. Besides, who says you can't regroup and redraw a new plan for reentry later on? Point is, don't FOMO and take a moment to organize your thoughts. + +I hope this helps! The idea itself is pretty simple and basic but takes discipline and mental fortitude to execute, both of which can be strengthen. +I know most of what I'm about to say isn't as much theta gang as much as it is delta or vega but I wanted an opinion/take from people with braincells unlike WSB or 90% of r/options. + +That being said, what are aggressive strategies suitable for very small accounts (1k-3k) starting capital? + +The best I have heard and seen so far is Put Credit Spreads especially since this market keeps pushing to new highs. If anyone has any tips & nuances they'd like to share about PCSs I would greatly appreciate that. Aside from those, any other aggressive strategies I should be aware of and can implement? + +Thanks for your time. +Recently saw a post asking how much you pay yourself and whether or not you rely on trading for most of you income. Thought I'd post a poll on the portfolio size of people in this sub, kinda curious to see what numbers will come up + +*Edit:* ***overall portfolio size***\*, *not just for theta strategies (sry should've made this a bit clearer earlier)* + +[View Poll](https://www.reddit.com/poll/sytphp) +First off, thank you to /u/Hurly26 and /u/rubensinclair for finding/uploading a copy of Morgan Stanley's "The Recession Playbook". Since the comment section on that post is 90% requests for the link, I thought I would make a new post for a discussion of what's in the report itself. + + For those of you who haven't already seen the link: http://www.mediafire.com/file/5py1d1zrii5rr1a/The_Recession_Playbook.pdf/file +Which would you pick? + +Job A: +- 120k base plus super +- 2 days WFH and 3 days office, 30 mins drive +- 9 hour work days + +Job B: +- 160k base plus super +- 5 days site 40 mins drive +- 10 hour work days +There's two big niches for beginning investors who either don't have lots of Experience, Lots of Money or Access to Funding. AirBNB Investing & wholesaling. + +While wholesaling - (controlling the option to purchase a property and selling the option to another buyer) has been around for a while. + +Airbnb or rental Arbitrage - (renting property and putting it on Airbnb to make money on the difference between rent and Airbnb host income) hasn't and is seemingly growing very quickly. + +Who feels one is better than the other for the beginner and why? +Hello! + +I currently live in Seattle and really can't find anything within my budget for investing in. Does anyone here have properties outside of where you live? How is managing that? Do you visit it a lot? +I found a package deal for 2 one bedroom units for close to the top end of my budget. + +The sale is contingent upon buying both AND the renters cannot be disturbed, and the realtor believes it would come with a stipulation to let them stay. They pay 1/3 of what a comparable rent would be. + +This deal only works if the rent is comparable to similar units in this area, otherwise I'm in the hole a few hundred a month - still not bad, but not ideal. + +Has anyone seen this type of thing? + +EDIT: Properties are at a fraction of market prices BUT tenants are allowed to stay "as long as they want" per the listing agent. +Disclaimer: I'm more of an art ape than an analysis, this is not financial advice I am not a financial adviser just a guy who thinks Susquehanna rhymes with SquashedBanana and that makes my ape brain happy. here's ken riding his last flash crash to oblivion. Now on with the (potential) DD! + +https://preview.redd.it/xovb99fyl6471.png?width=672&format=png&auto=webp&s=77d526103ceffb0e331194c7aa00436a780bac93 + +**TL;DR: Citadel, Susquehanna, and the other large funds that are short $GME have been strategically creating a psychological trojan horse. They have been fighting to keep the price below 350 to keeps the smaller short hedge funds from getting margin called so they can sacrifice them after tomorrows meeting (or soon after) let the price rise to near its actual limit (around 485 - 500) and then throw literally every last attack at $GME creating a similar-looking pattern to January... however this will be their final hail marry and If we HODL, Then moon!** + +I was going over Atobitt's post earlier today "[What's happening today - 6/8/2021](https://www.reddit.com/r/Superstonk/comments/nv6nmj/whats_happening_today_682021/) " when something he wrote caught my eye. To quote u/Atobitt: + +*"Think back to the House of Cards - Part III. Remember the example I gave of Goldman Sachs when they were being "bought in"? What did they do? They shorted* ***EVEN MORE*** *than they purchased on that day to keep the price down. As I am writing this, it is literally happening with GME. I honestly do not believe this is retail selling, but rather, a flash-crash to drive the price down. "* + +He went on to say: + +*"This is not normal behavior and is HIGHLY unlikely that retail is responsible. Prepare for EXTREME volatility and know that these actions are performed to prevent OTHER BROKER-DEALERS from being margin called."* + +Let me repeat that last part:\*\*"These actions are performed to prevent OTHER BROKER-DEALERS from being margin called! "\*\*those last words formed one hell of a wrinkle in my brain, I began pouring over the charts and came up with a theory! + +There has been a lot of talk about $350 they keep shoving it below that price, I theorize that is because that is the price the smaller funds get margin called, Shitadel and SquashBannana are **ONLY** keeping them afloat to use as sacrificial pawns in their endgame. + +Tomorrow (or soon after) The large Short hedge funds will let the price rise, close to where it peaked in January, the small funds will be forced to cover at $350 we will see the Short interest drop a lil. It will look like shorts are covering because they are! just the baby ones think a hand full of Glacial capitals or something along those lines, sacrificial lambs for the slaughter. + +As the price rises near or past 485 (Januarys peak) we will get the big boy, the final hail mary, the **MOAFC** (Mother Of All Flash Crashes). Citadel and the remaining larger short hedge funds will hit with EVERYTHING they got left, they want it to look like the final squeeze happened. + +This will without a doubt be followed by MSM saying it's over, the remaining shorts covered, FUD beyond all FUD, Motlyfool will forget about game stop so hard they'll get dementia, etc. + +When the dust clears Citadel's ammo will be spent, and when ken looks out from under his desk he will see that we still **HODL. 💎🙌** It will be all over for the short hedgies (*hopefully*) and the MOASS will begin.This sums up my theory on how the rest of the week/ next week will turn out, It's gonna be one hell of a bumpy ride to the moon, but it will be worth it. Love you all, it's been a hell of a journey so far and we're still only on the launch pad. + +Mod's if you see this and deem me worthy in all my smoothbrainedness, PLEASE, can I get a yellow tag that reads "SquashedBannana" ty love u! + +**Edit: Huckleberry\_007 mentioned this.** ***"Interactive broker CEO already said it was going to go to thousands, and we know they didn't cover. Probably shouldn't have let that out of the bag back then lol."*****Completely slipped my mind but yeah, it's legit possible that the big SHF's could let this baby ride into the thousands before they drop the mother of all flash crashes. either way, I got my floor and I ain't selling till then. Buy,Hold,Vote!** +The AMA guest that we have on here has been outstanding + +Legitimate people are confirming backing up our DD.. + +Like if they ever try to pull some bullshit on us like they did the last time we have people here lurking in this sub watching all of this unfold let alone the rest of the world + +LUCY JUST SAID SHE GETS ALL OF HER INFO FROM HERE + +An investigative journalist is using our information we’ve been collecting. + +Karl, Dr T, David, Zak + +Legitimately amazing and thank you to all the mods that make these happen, I feel like this is occupy wallstreet 2.0 and we’re not sitting in the fucking street in tents ( no offence if that was you ) were bringing everyone’s attention to what a filthy operation Wall Street is and I hope with Gary in charge, he seems like a stand up guy, hopefully there will be some repercussions or positive changes from all this I’ve know ho dirty Wall Street is from watching a documentary called zeitgeist years ago about how the Fed create money. This system is designed to keep you enslaved in debt and I hope this is the catalyst to change all that. + +But I know those Rothschild elites will not let us win easily, be prepared for every trick in the book. + +Apes together strong 🦍 +https://youtu.be/smvvTw5GhyM + +saw this video in which this guys buys a house and then refurbishes it making it value go up. then he gets it revaluated by the bank making the loan price go up and he gets paid the difference. does this work with indian banks? and what's the process? +[https://www.popularmechanics.com/science/a32142441/boeing-737-max-computer-problems/](https://www.popularmechanics.com/science/a32142441/boeing-737-max-computer-problems/) +https://www.marketwatch.com/story/intel-stock-savaged-as-next-gen-chip-delay-prompts-loss-of-confidence-from-wall-street-2020-07-24 + + +Intel Corp.’s stock logged one of its worst days in 20 years Friday after the chip giant divulged that its next generation of chips would be delayed and that it may seek a third-party manufacturer to make them, handing a huge win to smaller rival Advanced Micro Devices Inc. + +Intel INTC, -16.24% shares closed down 16.2% at $50.59 Friday, after dropping below $50 for the first time in five months. The one-day drop was the stock’s worst since March, when it finished down 18%, but that was amid a broader market rout when the S&P 500 index SPX, -0.61% tanked 12% and the tech-heavy Nasdaq Composite Index COMP, -0.93% had its worst day ever with a 12.3% dive. In comparison, the S&P 500 was only off 0.6% Friday, and the Nasdaq finished down 0.9%. + +Other than the March 16 rout, Intel shares have only seen worse days three other times over the past 20 years, two 18% drops in 2002 and a 22% drop in 2000. + +Late Thursday, Intel said it was delaying its 7-nanometer line of chips by at least six months because of a “defect mode” and that it may have to resort to a contingency plan of using “somebody else’s foundry” to make them. In chip parlance, nanometers, or nm, refers to the size of the transistors that go on a computer chip, with the general rule being that smaller transistors are faster and more efficient in using power. + +As a result, shares of AMD AMD, +16.50%, which already sells 7-nm chips, soared 16.5% to close at a record $69.40, only the second time AMD has ever closed at a higher stock price than Intel. Meanwhile, American depositary receipts of Taiwan Semiconductor Manufacturing Co. TSM, +9.69%, which makes AMD’s chips, rallied 9.7%. to close at $73.90. + +Intel, on Friday, shed $41.54 billion in market capitalization, putting it far behind Nvidia Corp. NVDA, +0.63% in the previously close race for most valuable U.S. chip maker. Nvidia shares finished Friday up 0.6% at $407.78 for a market cap of $250.78 billion, versus Intel’s $214.2 billion. +I don't give a flying fuck If this Incidence was a 'glitch', an error, Tinkerbell on crack borrowing shares like crazy or whatever problem you pull out your ass. I want fucking EVIDENCE for it. +You know this place huh? This is Superstonk, a place where shit memes are posted, a giant circle jerk occurs whenever the chairman does something, but the most important thing: Crazy smart people are sharing their DD's with us dumdums and everybody gains knowledge in this process, even If you only read the TLDR and talk some shit in the comments. +Some stuff is so good it deserves a Pulitzer Prize, other stuff gets debunked. And that's totally fine, this is the process of learning. +So If you come out today and talk about yesterdays trading day: Bring fucking EVIDENCE! I would believe you If you say it's a glitch IF you have evidence for it. + +So chose your way: Do your fucking DD and deliver it to the best fucking hive mind ever, or get your 2 days old account rekt and nobody will listen to you again, ever. + +Welcome to Superstonk, fuckers +From the article: + +**Data collected by the Financial Industry Regulatory Authority shows that total margin debt across Wall Street hit $822bn by the end of March — *after* Archegos had failed.** That was almost double the $479bn level of this time last year and far more than the around $400bn peak that margin debt reached in 2007, just before the financial crisis. +To put these numbers in context, ABP Invest, a London-based fund, calculates that **during the 2000 dotcom and 2007 credit booms, US margin debt topped out at roughly 3 per cent of gross domestic product. Now it is nearly 4 per cent.** + +Take this as what you will + +https://amp.ft.com/content/ac7cfe19-54a5-4e9a-b059-bbce3e78e354 +Hello, I am looking for advice. I am looking for good and ”cheap” dividend stock that I could buy. I get 3.000€ (3 132$) end of the next month and I want to buy some U.S stock that pays dividend and is pretty safe. + +I already have 110 KO (Coca-Cola) stocks in my portfolio. + +I am holding LONG (+20 or 30 years) + +Should I just buy more KO or should I invest PEP or MCD or some other dividend company? Any thoughts? + +Sorry about my bad english. I am not native. +Just opened a Roth IRA. I put the max contribution for this year and last year in it so $12k. +I’m 31 and have a 401k from my job through Vanguard as well. I don’t have a lot of investment experience otherwise. + +I was thinking about splitting the Roth evenly across SPYD, QYLD, O, SCHD, SCHG, and IEP. + +Anybody have any thoughts on these? Am I even on the right track picking these? +Just opened a Roth IRA. I put the max contribution for this year and last year in it so $12k. +I’m 31 and have a 401k from my job through Vanguard as well. I don’t have a lot of investment experience otherwise. + +I was thinking about splitting the Roth evenly across SPYD, QYLD, O, SCHD, SCHG, and IEP. + +Anybody have any thoughts on these? Am I even on the right track picking these? +https://www.cnbc.com/2018/02/23/dropbox-ipo-form-s-1-prospectus-filing-full-text.html + +Cloud storage company Dropbox filed to raise $500 million in a public offering on Friday, giving investors a first look at the books of a coveted unicorn start-up that was previously valued at $10 billion. + +Here's what the filing said: + +Revenue: $1.11 billion in 2017, up 31 percent from the prior year + +Net loss: $111.7 million in 2017, narrower than 2016's loss of +$210.2 million + +Average revenue per paid user: $111.91, up from 2016 but down from 2015 + +500 million registered users, 100 million signed up since the beginning of 2017 + +More than 11 million paying users + +Gross margin: 67 percent + +Dropbox will list on the Nasdaq under the ticker "DBX." +Your markets are run by bots. Now your daily threads are too. + +&#x200B; + +This thread is for plans and thoughts prior to the market open period. + +Maybe use this time to read the [wiki](https://www.reddit.com/r/asx_bets/wiki/index/) [.](https://styles.redditmedia.com/t5_2hqqj5/styles/communityIcon_41pmnaqp4zn41.png?width=256&s=59bf38425fb316fdcba30365b272a5f19352f370) + +&#x200B; + +Posts relating to the "Is /r/ASX_bets about finance or effect your mental health?" etc will lead to a ban of the mods chosing. [You have been warned](https://www.reddit.com/r/ASX_Bets/comments/l0l9et/the_does_asx_bets_effect_your_finances_emotions/?utm_medium=android_app&utm_source=share). + +&#x200B; + +[We have an active official/unofficial discord. It's open to all discussions, stonks related and non-stonks related](https://discord.gg/ywAGqfUAQE). +Your markets are run by bots. Now your daily threads are too. + +[We have an active official/unofficial discord. It's open to all discussions, stonks related and non-stonks related.](http://discord.gg/2sQBNuM) +I was in early on this one, took my winnings and left. It was an accidental sell but I'm looking at AVA again and maybe you are too. + +It's actually hard to value this one because the turn around has been so significant from successive years of negative earnings to \~190% growth, which isn't sustainable. + +Looking backwards, it is being fairly valued down as .585 SP is PE of 30 which is the high watermark for the sector anyway. + +But.... looking forward taking earnings (free cash flow) *growth* into account it's a different story. + +If we cut the 190% growth down to 47% growth (arbitrary 3/4 cut) + +(.585 SP / .02 TTM EPS) / 47 = .62 PEG (w no dividend\*) Which sounds like a good deal against benchmark of 1.00 or **fair value SP of .94 🚀** + +Fast forward these numbers (47% growth) to July and we have market cap of $218M, $113M Revenue and \~$12M free cash flow. + +Balance sheet is good with 2x current assets to liabilities and an estimated 4 quarters of op ex cash in the bank. + +For narrative, we have a growth story in the security sector of both physical and digital assets. + +Risks are management fucks it up (no evidence of this), they can't sustain growth or the growth breaks them, shareholder dilution through capital raises (they've done it every year) + +\*That dividend this year was a special so I haven't included any dividends + +Over to you, in or out? +I see people posting broker data for stocks on Hot Copper. I don't know what they are and Google returns irrelevant search results. + +What is broker data and is it important? I just look at those posts on HC and have no idea what I'm looking at. +Your markets are run by bots. Now your /r/Asx_bets daily threads are too. + +Read the [wiki](https://www.reddit.com/r/asx_bets/wiki/index/) people[.](https://styles.redditmedia.com/t5_2hqqj5/styles/communityIcon_41pmnaqp4zn41.png?width=256&s=59bf38425fb316fdcba30365b272a5f19352f370) + +[Posts relating to the "Is /r/ASX\_bets about finance or effect your mental health?" etc will lead to a ban of the mods chosing. You have been warned.](https://www.reddit.com/r/ASX_Bets/comments/l0l9et/the_does_asx_bets_effect_your_finances_emotions/?utm_medium=android_app&utm_source=share) + +Automoderator may provide "Guidance" for Lazy and zero effort posting. + +[We have an active official/unofficial discord. It's open to all discussions, stonks related and non-stonks related.](https://discord.gg/ywAGqfUAQE) +There is so much going on, there's gotta be some good bets out there. + +Are these some factors important? Would be looking into companies that address these? + +- increased military spending +- battery tech +- fertiliser demand +- grain supply +- increased travel + +I put a screenshot on some aussie drone company a week or so ago, didnt get much feedback but the stock up 20%, how long would you watch the price and DYOR until you go in? +Your markets are run by bots. Now your daily threads are too. + +[We have an active official/unofficial discord. It's open to all discussions, stonks related and non-stonks related.](http://discord.gg/2sQBNuM) +FatFire folks, + +I have a tactical question about TSLA. For context, I am a mid-30s male, working in financial services. Job earnings of \~$700k/year + carried interest, so lots of earning potential. I live in a VHCOL city. Due to a combination of early inheritance, aggressive savings, and bull market luck, NW is a little over $9M (includes only home/cash/securities I currently own, no mark on carry not yet received, nor any value for anything I wouldn't keep if I walked away today). + +I am an enthusiastic passive investor. I do active investing as a profession and so have some exposure to that through work, but money I save goes right into VOO and I don't touch it. My firm's strategy is value investing, which I am partial to, but I understand the value of Apple, Amazon, etc. so I'm perfectly happy owning the S&P500 and benefitting from the growth of those businesses. + +That happiness is down slightly in December. I now find myself as a \~1.7% investor in Tesla. WSB shenanigans notwithstanding, I think the Tesla valuation is completely absurd and I am irritated that I have gotten passively looped into this in what I believe is a bubble and now am going to hold the bag (along with everybody else) when it returns to earth. + +I do understand that often in indexing you make money based on things you don't understand, but I also understand the structural pitfalls of passive investors being forced to buy into bubbles based on index rules. + +I would really like to neutralize my exposure to Tesla. I don't care about making money on the fall, and I'm OK forgoing any gains that might accrue to that stock. I know this is "active investing" in the strictest sense of the word, but I am not trying to start being Mr. Market Timer. + +What's the tactic here? I've looked at long-dated put options as a hedge, but those are (a) really expensive given the volatility, and (b) starting to look more like market timing/predictions. I could short it in an amount of \~1.7% of my S&P 500 position, but that seems like it would require some management over time to keep it calibrated, plus I'd be paying stock borrowing costs. + +I'm curious what other folks have done here, if anything. Suggestions? + +&#x200B; + +**EDIT: Thanks for the thought everyone. Sounds like's there not much to be done without a great deal of cost, aggravation, or both. Buckling up for the ride / TSLA to the moon! etc. etc.** +PRE-NOTE: Tried as best as I could to unfuck formatting... plz give me a *break*. Took me a while to write this, I’m still too FUCKING upset while trying to calmly piece everything to figure out the best strategy. Sorry if it’s confusing. These criminals do this fuckery in their working hours, while the rest of us have to waste our free time dealing with these crimes. I really could use some help & guidance as to what legal steps to take now. + +——————————— + +**SUMMARY:** + +Since this exploded and got a lot of feedback (some was really great!) I am rearranging the post to make it more organized/structured. There are 2 subjects on this post: + +1) Interactive Brokers shows in my *account activity statement* that they have been lending my shares for months, **even though the option to lend was off** - I double checked it in March and April before the date of record - and now I cannot vote. This is because **they can ALWAYS pull your shares in Margin Accounts** even if you opt out (it is in their user agreement, fuck these con artists). **SOLUTION**: Account Settings > Account type > Cash (too late to vote tho, sorry fellow apes) + +2) Revolut does not let you vote directly in the official GME proxy site. They sent out an email to everyone to vote in https://vote.saytechnologies.com - which is a third party platform that collects your vote and then **supposedly** they cast the vote themselves. So if you are trying to vote 100 shares, who’s to say they actually vote the full amount? They can only vote 5... or 0. Why all the suspicion? **Because they refuse to give me my control number to vote directly on GameStop** - seriously try your luck, we need more people pressing them. + +——————————— + +**1) Interactive Brokers** + +I waited a couple weeks for their automated email that I always get when there is something to vote on. I even received multiple emails in March to vote for NOK and NPA, which should prove that I had the option to loan shares off (as NPA was particularly demanded for shorts too). So I finally contacted them this Monday, May 3rd, asking about it, only to get this response today: + +>Summary: Haven’t yet received email to vote on proxy/shareholder meeting + +>XXXXX 2021/05/03 14:22:03 + +>Hello, I usually receive an email from IBKR to vote for my holdings, normally a couple of trading days after the release of the SEC filing by the company. It has been over a week now and still haven’t received an email to vote for the GameStop (GME) shareholder meeting, of which I held XXX shares on the record date. Can you please look into this matter? Thank you in advance, Kind regards + +The response: + +>IBCS 2021/05/04 12:50:12 + +>Dear Mr xxx, + +>Thank you for contacting Interactive Brokers. + +>The record date for the GME annual meeting was the 15th of April 2021. + +>Checking your statement of this day shows that your shares were lent out on this day because you are part of the Stock Yield enhancement program: +IBKR Managed Securities Lent Interest Details (Stock Yield Enhancement Program) + +>Value Date Symbol Start Date Quantity Collateral Amount Interest Rate >Earned by IB (%) Interest + +>Paid to IB Interest Rate on + +>Customer Collateral (%) Interest + +>Paid to Customer Code + +>USD + +>2021-04-12 GME 2021-04-12 -XXX xx,xxx.xx 0.xx 1.xx 0.xx 0.xx Po + +>2021-04-13 GME 2021-04-13 -XXX xx,xxx.xx 0.xx 1.xx 0.xx 0.xx Po + +>2021-04-14 GME 2021-04-14 -XXX xx,xxx.xx 0.xx 1.xx 0.xx 0.xx Po + +>2021-04-15 GME 2021-04-15 -XXX xx,xxx.xx 0.xx 1.xx 0.xx 0.xx Po + +>2021-04-16 GME 2021-04-16 -XXX xx,xxx.xx 0.xx 1.xx 0.xx 0.xx Po + +>2021-04-17 GME 2021-04-17 -XXX xx,xxx.xx 0.xx 1.xx 0.xx 0.xx Po + +>As described in the risk disclosure of the program this lending can have the effect that you lose the right to vote on the shares if they are loaned out on the record date for the meeting. + +>This was the case on the 15th of April so no voting material is going to be sent to you. + +>Should you require any further information, please do not hesitate to contact us again. + +>Yours Sincerely + +>Mark M + +>IBKR Client Services + +^(Note I edited those numbers bc idk if they can expose me or my account. They’re supposed to be rates and interest. Essentially they are a record of my shares being lent daily on those days) + +(I thought) I had been extra careful to avoid this sort of shit - **I even have my shares split in 3 different brokers: Degiro, Revolut and Interactive Brokers** - and I myself have been posting so many posts to bring awareness to possible fuckery, now this? + +I’ve already sent an email to GameStop investor relations, if their shareholders aren’t able to vote due to financial firms fuckery, it is in their interest to know and eventually do something about it. I also started composing an email to both the central bank of Ireland and UK - that’s where Interactive Brokers is for EU customers - and FCA (got this suggestion multiple times in the comments, thanks everyone!). + +Here’s the email, **feedback is appreciated**, I have yet to send it as I am waiting a reply from Interactive Brokers today before I consider sending it: + +>To whom it may concern, + +>I am a EU citizen. On May 4th 2021, I received very upsetting news from my broker - Interactive Brokers - who is originally from UK but has opened in Ireland since Brexit, hence my contact to you all. + +>I had contacted them on May 3rd because I’ve been waiting for their automated email to vote on a proxy/shareholder meeting for over a week. Note that I always received these emails for other companies I own shares in, because the option to lend shares has been off for many months. **I had the option to lend shares set to OFF** (they call it Stock Yield Enhancement Program) **I am 100% certain of this because I checked before the date of record**, which was April 15th 2021, for the company in question. + +>They respond that I cannot vote because **my shares were lent out on the date of record**, and that my Stock Yield Enhancement Program was ON - **which is a lie** - **and they set it themselves to “ON/Enabled” without my knowledge**. They proceed to show a record of lending my shares everyday around the date of record. I can confirm they set it to enabled themselves, I cannot confirm when but **I can only presume they did this after my contact**, because last time I checked in April it was OFF, as it had been since the account was created. + +>Furthermore, upon checking my account activity statement, they have been lending these shares several times since January without my knowledge or permission - note that I checked twice, in March and in April, that the option to lend was off, and I only did it to be overzealous, because I never changed that setting and had no reason to believe it would change on its own. + +>I want to exercise my right to vote, I made sure to not lend my shares by checking that the option to lend shares was OFF before the date of record, now they “changed the past” by setting the option to lend shares to “ON/Enabled”, and **either fabricated a history of lending my shares OR they flat out have been lending them without my permission and against my will**. How can I proceed with a formal complaint, and in your opinion what consequences can I yield from this, **namely: how will I be able to vote my shares?** + +>Also, before you ask if I keep proof/backup of all the settings in my brokerage accounts, the answer is “No, because I don’t even have the option to export those settings into a backup file, or at least I wouldn’t know how to do it”. But I am willing to go on record and testify under oath, if necessary, that I checked to confirm that my option to lend shares was set to off prior to the date of record, which was April 15th - and I did it to confirm because I already knew it was off, as it had been since the creation of the account! I even received other automated emails to vote for other proxy votes in mid march, because the lending option WAS OFF the whole time. + +>Thank you for your attention, I look forward to your response. Kind regards, + +——————————— + +**2) Revolut** + +They sent us a link to vote on this “SAY Technologies” platform - **even though it looks legit af**, THIS IS NOT THE OFFICIAL PROXY VOTING SITE. + +Why am I suspicious? This is a company that is backed by Point72 (Steve Cohen) who played a major role in the January collusion when they bailed Melvin. + +Now SAY is refusing to give me a control number, they keep saying I don’t need it because the meeting will be in-person and not virtual, so I cannot get a control number and I should vote in their platform. I find it hard to believe the meeting can be really in-person only, can anyone help confirm this? After a lot of back and forth they keep using this rational: + +>Re: GameStop Corp. Meeting Information + +> Hi XXX, + +>Control numbers are required if you'd like to attend a virtual meeting. Because this is an in-person meeting only and you have already voted your shares online, you will not have a control number. + +>Let us know if that makes sense, + +>The Say Team + +——————————— + +NOTE: I used X’s to replace # of shares and my account number and other personal info +Just as the title suggests, what was THE moment/s and what advice would you give your earlier self? + +I’m still yet to have that moment, looks as though I need to find my style/edge as all I have at the moment is loads of knowledge/education/theory, but nothing practical/in real terms. +This is purely for discussion, opinions etc. I'm not currently looking for any concrete advice, just curious. + +Currently I'm pretty comfortable work-wise and financially. My partner and I both work, don't make a crazy amount, but get to enjoy ourselves, save into pensions and ISAs, and spend a bit on ourselves or the house as/when needed. + +We both want kids, and that will be the next step at some point in the coming years so my question is, just how different is it with kids? Are they really as expensive as everything seems to suggest? + +I'm just interested in any experiences, thoughts etc. We live in Northern Ireland btw, so cost of living is (I think?) slightly lower here. + +Anyway, thanks in advance for any discussion! +**Strategy design write-up: Bands on Autopilot part 2** + +Wow, thank you to all of the people who gave me constructive feedback on my last post. Here are some of the main ideas people pointed out: Lack of long-term compiled data, clear definition on what defines beating the market, and how trading fees effect the profits of the strategy. I have read through all of the comments and given some thought to these ideas and I will be addressing them in this post. Let's start off with the lack of long-term compiled data and defining what beating the market means. Also, for those unfamiliar, here is the strategy build in question: + +https://preview.redd.it/mghdxbizllf91.png?width=1244&format=png&auto=webp&s=6bb8aaa6896ba2bed2efd257b9825e00bc0dd041 + +For my last post, I compared the performance of "Bands on Autopilot" to the performance of the S&P500 during the bear market of 2008 and the bull market of 2021. I also compared the strategy to the assets it was executed on, AAPL, AMZN, MSFT, and GOOGL. During both of these periods my strategy outperformed the S&P500 and the assets I traded on. People pointed out that there was some level of overfitting here, so I decided to compile backtesting results from 2008-July 25th 2022. Here are the results: + +https://preview.redd.it/pluh7951mlf91.png?width=2058&format=png&auto=webp&s=fc9196c1c5f0e64fdf16ab2c9049bc9b22e70027 + +During this period the strategy returned an incredible 350.86% while my benchmark (S&P500) returned 123.49%. The assets we traded on returned 395.95%. There are a few things to unpack here. Firstly, the risk undertaken by "Bands on Autopilot" was significantly lower than that of just holding these four stocks. Yes, I got outperformed by \~45% but my exposure to \~128% less potential losses has to be considered a win on some levels. Second, year over year this strategy was extremely consistent in terms of winning trades despite a lot of market volatility. This gives more certainty for the strategic outlook than just buying and holding. If the 4 assets I traded all lost money for the next 15 years, at least I know my strategy would consistently save me a ton of money during that period. + +The next logical step is to test this strategy against some different assets. To select these assets I looked up the most popular stocks on reddit for 2022 (most of which probably came from wallstreetbets). Here are the top reddit stocks listed: TSLA, GME, AAPL, AMZN, AMD, WISH, TWTR, and AMC. I also decided to select five random stocks from five different sectors. The five stocks randomly selected were BA, CHTR, MCD, PG, and XOM. Here is a screenshot of my portfolio for the second round of testing: + +[Reddit loves meme stocks!](https://preview.redd.it/8j3zd0q4mlf91.png?width=1294&format=png&auto=webp&s=c700fb356da0276c57a26a51a614ad993c05f67b) + +Here is a 2008-July 25th 2022 breakdown of the results for this portfolio: + +https://preview.redd.it/33i3hp1iemf91.png?width=2074&format=png&auto=webp&s=30116e7961e7cf1e3d7a23cef0b4ee3df7f49c22 + +During this period, "Bands on Autopilot" returned 357.98% while the benchmark returned 48.96%. The assets I traded on returned 439.73%. Compared to buying and holding the S&P500, this strategy absolutely rocks. However, buying and holding the assets in this portfolio would have yielded higher returns. These returns would come with a substantially higher risk potential of 455.02% compared to the strategies risk potential of 278.80%. Similar to the other breakdown, the percentage of overall winning trades was widely consistent. This consistency along with the risk mitigation shown instills confidence for future use of this strategy. It should be noted that in periods of heavy market losses, this strategy really shines. Anytime the S&P500 was negative on the year, the strategy was outperforming the assets it traded on by notable margins. It should also be noted that a large chunk of the asset performance came from the meme stock blow up. + +Between both strategy breakdowns, the average trade return was typically somewhere between 0.05% and 0.20%. Due to many trading brokerages having fees for trading, scalping such low percentages would make this strategy unviable for long term use as you would lose more money from fees than you would make from the trades themselves. However, a brokerage that does not charge per trade, and only requires a set monthly payment for use would make this a possibility. For users who asked on the last post, slippage is accounted for within these backtests. + +In conclusion, extended backtesting with multiple portfolio builds increased the frame of reference enough for me to identify the true strengths and weaknesses of this strategy. Having learned a lot from this experience, I am heading back to the drawing board to create a strategy that outperforms this one in more ways than one. Also, before I get spammed with millions of DM's and comments again asking what platform I used to construct this strategy, its called Plutofi. Just google it, linking it here is breaking subreddit rules. One other thing, thank you to the users who actually respectfully critique these strategies builds and help myself and others improve. I honestly have learned a ton about the requirements for building impactful strategies that will stand the tests of time. Looking forward to the critiques of this one! Peace! <3 + +Edit: Fixed a small numerical error in the second excel sheet. Bollinger bands have a standard deviation of 2 and this strategy is trading on the 1 hour time frame. +On October 28th crypto.com announced a 100 million dollar marketing push. The most I can find talking about it from this subreddit is a 300 upvote post mentioning the Matt Damon deal. + +Now there are plenty of posts talking about the push as people are seeing CRO double in a week, but we need to ask ourselves why did news like this fly under the radar to begin with. I’ve noticed more and more this subreddit talks about the coins that pumped yesterday rather than developments that may lead to the next pump. + +I’m not going to pretend I’m not chasing pumps but I would like to come to this subreddit to discuss news and developments, not to bandwagon hop. Either we need to start downvoting needless price speculation posts and focus on industry updates or we need to spin off another subreddit like r/cryptotechnology +It's looking brutal for both of the big Chinese names. The education stocks we of course have to dismiss from the get-go, they're done. However the jury is still out on BABA and Tencent. This can be a generational buying opportunity if China lets them do business somewhat freely even after the crackdown. Tencent music is hard to evaluate with the forced streaming rights thing, but it's a separate ticker from Tencent (TME vs TCEHY). + +Personally I bought a 2023 LEAP on BABA at 186, thinking it was a great buy. We are down even further now, and Baba is dancing around very crucial moving averages. I also opened a long day trade on Tencent since their earnings are tomorrow. Guidance will matter a LOT, but the stock is down so much that the previous quarter earnings will possibly be outstanding in relation to their current stock price, allowing for a nice day trade. + +However, the uncertainty absolutely cannot be overstated. What do you think? Are you biting yet? +I'm in my late 20's, no children yet. I'm just thinking about the future and wondering what ya'll parents think about leaving your children money. + +&#x200B; + +&#x200B; +This is getting more and more insane. Many of us were aware that not our keys not our crypto but put some of the funds in these “trusted” apps for interest as they promised with their protocols, safety measures, insurances and were trusted by “respected” people in the industry. + +Since the whole thing is not regulated does this mean everyone’s money is gone? + +I know it was a mistake but what can be done now? + +p.s, how is SBF not arrested yet? It’s the biggest fraud of at least modern history and he was openly tweeting about being a fraud. +I recently accumulated 100 shares of VTI and I’d like to sell covered calls on it for extra income. I don’t want to get assigned because I don’t want to sell the shares for tax purposes. What’s the best strategy here? The usual methodology is selling 30-45 DTE, 30 delta strikes, manage at 21 DTE. Is this the best way to achieve a rolling stream of income from the shares? I was thinking to try 15-20 delta @ 30 DTE and manage closer to expiration. + +VTI doesn’t pay as well as more liquid index funds but closer to expiration, strikes $5-$10 OTM completely lose value/liquidity. So that’s why I’m thinking this specific underlying might merit a slightly different treatment than the usual covered call play. +A couple of months ago I purchased a call option on IMMU for a $20 strike price. IMMU received the good news I was betting on and the stock closed today at $26. My $310 option is now valued at $815. Not bad. I think the stock is done popping. Expiration date of my contract is 8/21/20. + +I'm considering exercising the option and then selling covered calls about 10% OTM on a rolling 30-60 day basis. A $29 strike with expiration on 6/17 sells for $220. That is a nice 11% profit on top of my gains. + +I am new to options so trying to keep things low risk and not too complicated. I should also add this is not investment money it is more like side hustle money. Granted the market in general could go down the tube and the stock could slide below $20 again but I am ok with that. I would write covered calls above my cost basis. I am also pretty bullish on the stock. I'm wondering what others think, this would be my first time writing options. Thanks. +example: i sell XLF cc for some strike price and just wait it out till the end because i dont want to mess with it and close it before time. is it a good thing to do that or is it additional risk? +We moved out to the countryside a few years ago. Since then I've had a baby and have dropped down to part time work to study full time. Money is tight. It's always been kind of tight, but I used to be able to say "that's okay, we'll just go for a long drive to another town". Pack some sandwiches, load up the car with drinks and head off. No money needed to be spent and we would have a great day out. + +But now with petrol prices being what they are that seems like a waste of money. When money is too tight to do anything else we're just stuck at home. It's depressing, but I need that petrol to get to work. +A friend who works at waste management got offered an employee stock purchase program where they get shares at a discounted rate. He asked what I think of the stock. Ive been watching stock and feel its above fair value for me but for him is a screaming deal. Led me to research companies Ive worked at a holding of. + +The ones that trade publicly are: + +YUM brands: YUM + +would not buy on open market, believe it will do well but not outperform. Id be happy to buy discounted shares however. + +Albertsons: ACI + +financials seem terrible, no room for real growth with pretty robust competition. Avoid. + +Modivcare Inc: MODV + +Stock price running real hot and enjoying a covid high, will probably correct hard. Medical transportation and logistics has been huge with covid but will soon be back to normal and they cant maintain the growth, with a PE of 66 im scared plus so much revenue is based on government contracts I'm avoiding. + +WalMart: WMT + +Not going to outperform, never going away. Would buy at discount, wont buy open market. + +Dick's: DKS + +their financials seem really good. I dont know how but they are crushing it. The ones local to me dont seem to do much business. But revenue, profits, doing great. Buying back shares to increase stock value and even paying a dividend for icing on the cake. Im contemplating buying some open market after some more DD as this one confuses me and will jump on a discounted share in a heartbeat, which almost pains me to say since that was my least favorite place to work ever. + +My current employer is the federal government so their stock is pretty much a bond and those arte pretty lame. Where have you worked you would hold stock in? Do you currently work somewhere where you would be confortable buying stock in the company? +Browsing through this sub for months I see most people are from London here and they are on more than £30k salary year. Anyone here earns min wage in and outside London? What do you do and how old are you? How do you manage your spendings? How much do you spend and how much do you have left each month. +I just purchased my first property. I had quite a bit of equity in my house and still have 20+ years until retirement so wanted to take a chance on an investment property while I still have a steady paycheck. I’ve been going to commercial auctions in my area and can never beat the big guys. They will just keep their hand up until they win. I decided to look elsewhere and eventually came across a building being auctioned by an estate. It’s about 20miles away and I went to check it out. It currently has one store front that is leased by post office (5 year lease at 17400 annually and has been there for a long time.) The other store front needs some cleaning and junk moved out of it but could have potential. The only thing is the town is what some might consider low income and I’m not sure how much interest there is in people opening businesses there. The ones that are there have been there for a longtime. The upstairs has 4 apartments and they are pretty rough. 1 is decent and just needs some TLC but the others are a little intimidating. There is also a block garage on the back side of the property in parking lot and could be well suited for a mechanic shop or similar. There are two garage stalls 23x75 under the building and one could possibly be used for storage. + +I need to get some roof repair done on the back side and hopefully don’t run into more than I can handle. I mainly purchased it because of the post office being there. It wanted to possibly generate some more income somehow. Thought about remodeling one apt and see how it goes. Will probably offer garage up for rent as a shop. A bonus is the building is packed with all kind of antique furniture and store front desks from the early 1900’s. There is also an antique tractor in the garage. I may have to have another auction and possibly make a few grand back right away or use it for repairs. + +Does anyone have any ideas that I haven’t mentioned or possibly just some encouragement because I have t even taken ownership and am already nervous. I’ve built my own house so there isn’t anything I can’t fix. It’s just a rural low income community and I’m not sure how to market the other space. Or should I just keep the post office happy and not to prey about the other space? +Just to give some context here, we bought a 70-unit gated apartment complex here in SoCal about 2 years ago and are attempting to self-manage. We’ve had 3 property managers since then (found on Craigslist) that have turned out to be duds (drug problems, not showing up to work, etc). + +What reputable job search platforms have you all used, other than craigslist, that has helped you find quality candidates? +Isolated college town with a population of ~250K. Said duplexes are more tailored towards the local working class (part of town they’re in) per the agent. Some of the duplexes are owned by an IRA trust from what I understand. + +EDIT: Since everyone is asking, I am speaking of Lubbock, Texas. Make sure you read all the details in my post as it seems some of you are missing crucial info I provided. +PALO ALTO, Calif., April 2, 2021 – In the first quarter, we produced just over 180,000 vehicles and delivered nearly 185,000 vehicles. We are encouraged by the strong reception of the Model Y in China and are quickly progressing to full production capacity. The new Model S and Model X have also been exceptionally well received, with the new equipment installed and tested in Q1 and we are in the early stages of ramping production. + +> https://ir.tesla.com/press-release/tesla-q1-2021-vehicle-production-deliveries +Hi all 👋🏻. Alexis Goldstein here. During my testimony before the House Financial Services Committee today, I tried to flag some open questions I have. One of them is, what was the volume of trading in GME (and other meme stocks) by institutional players who, unlike retail, can trade “over the counter” (OTC) options (which they typically still hedge with listed stock). If regulators or Congress had a sense of the volumes of OTC options on GME that traded in periods of high volatility, that would give some insight into their overall footprint in the volatility. + +I elaborate on this a bit more in my written testimony if you’re interested: +https://financialservices.house.gov/uploadedfiles/hhrg-117-ba00-wstate-goldsteina-20210317.pdf + +And here are some my other observations about today’s hearing, in case that is also of interest! https://twitter.com/alexisgoldstein/status/1372355570196480002?s=21 + +UPDATE: I wrote up some of my thoughts on yesterday's hearing over at my newsletter, if it's of interest! https://marketsweekly.ghost.io/second-gamestop-hearing-in-hfsc/ +So: (/s) + +“This ‘Bitcoin’ has too many shortcomings to be seriously considered as a means of payment. The protocol is inherently of no value to us.” – Western Union internal memo, 2014. + +How things have changed, how they stay the same. [Other famous last words](http://web.mit.edu/randy/www/words.html). +As the title says, I'm considering selling my business to start that fatFIRE life. I think the value is approaching solid fat, but I need to find out. + +I've talked to a business broker and they're all in on listing the business, but I'd like to explore an investment banker to see if it would be a better fit. I'm in that middle territory where the sale would be a little large for a typical broker but small for a banker. + +The problem is that I have no connections to that world whatsoever, and I'm hesitant to just start cold calling google results without a solid frame of reference. + +Location is midwest. Business is doing $5M in sales/year but growing quickly. On pace to push $7M in 2020. Private label eCommerce with some in-house manufacturing that takes place. Profit margin is a solid 20-25% with about 10 years of growth to show. + +So other than an "investment banks near me" search how do you get a decent referral? +Every few days/weeks I see a post asking basic questions about private equity, hedge fund, or venture capital investments. + +As someone who works at an endowment/foundation and invests in these types of funds for a living, I thought it'd be fun and potentially worthwhile to do an informal AMA and answer any questions people here might have about fund-level investing. + +I do have some knowledge of direct investing through co-investments the firm I work for has done but others who work in PE/VC/HFs that do direct investments will have better answers. + +A few general observations I have had from reading posts on this board: + +* Not all hedge funds are trying to beat the S&P 500. If a fund is has 50% net exposure to the S&P and returns 8% in a year the S&P returns 10%, this is still a good year for the fund. If you do not understand what I am talking about, would encourage you do to more research before investing in hedge funds +* The success you have had to get you to a NW level where you are considering this investments likely stems from at least some "edge" you have developed in your career. Can you really look at yourself in the mirror and say you have an "edge" in investing in these types of funds? Other than for bragging rights, have to ask yourself if you will be able to invest in above average funds, let alone top 10/25% of funds. This is especially true if you believe there to be any adverse selection in terms of the funds you actually have the opportunity to invest in. If large ($1+bn AUM) endowments and foundations struggle to get allocations to top funds, why in the world would some $10mm doctor/lawyer/entrepreneur in NYC/SF/Seattle/LA get an allocation? +* Do you have any real idea of what your risk tolerance is? Does that match your portfolio? I have seen a lot of posts asking about whether to make a certain investment. While undoubtedly certain investments are better than others, one of the MOST IMPORTANT questions to ask is whether a given investment fits within the risk framework. If preservation of capital is more important than maximizing upside, having your portfolio be all in on equities makes no sense, much like having your 401K as a 30 year old be 90% bonds also makes no sense. +* You are not diversified just because the asset classes (stocks, bonds, etc.) you invest in are different. I have friends in the Bay Area talk about how they are diversifying away from their salary/RSUs by investing in real estate or doing seed investing. While that might be true on the surface, in the end they are still massively long Bay Area tech and these investments will be more correlated. Imagine losing your mid-level engineering job, having all of your paper equity become worthless, and your multi-million dollar Palo Alto home's value stagnate all at once. +* Unless you are getting a valuable wide array of services beyond just investment advice, it's hard for me to understand why people use wealth advisors if your net worth is <$10mm. Sure it's flattering that someone who works at a big name firm wants to spend time talking to you about your investment objectives and offer up some hedge fund/private equity products, but the fees are a huge drag for investment advice that is in all likelihood mediocre/non-alpha generating. Just run some scenarios about a 1-2% annualized decrease in investment returns does to your portfolio over 5/10/20/30 years. +I remember using quantopian years ago but heard they took live trading away so people started to use quantconnect more. Where do most people generally write algos for backtesting nowadays? Locally or what’s the go to platform now? +Alright I'll try to keep this short and sweet for all my sweet bb apes. I approached Dr. Susanne Trimbath on Twitter about doing an AMA, and u/StonkU2 has been vital and central to communicating with her and setting this up. If you look at [her twitter](https://twitter.com/SusanneTrimbath?s=09) you can tell she is not only interested in what we have to say, she is loving interacting with us! + +I want to throw out there that Dr. Trimbath is familiar with message board and chat room culture. (A/S/L anyone? 🤣) She is what the youngsters among us would call **OG**. I for one am so stonked to have someone of her caliber spending time to talk to us. + +So as moderators, we are respecting hers and everyone's time by using a controlled format, with our very own u/atobitt facilitating the conversation. I do not want to give too many spoilers, but please know that the moderator team is diligent about making this a clean and presentable interaction that we all can learn from, grow with, and look back on as a resource. I want to stress that *we will be using curated community AMA questions as usual*. We are just going with a more streamlined and professional format, with a trusted and respected ape presenting the conversation. 💪 Details tomorrow 6 AM EST in my Superstonk daily post!! + +Now... having gotten the business out of the way... WHO WANTS A CUSTOM FLAIR?!?!🦄🦄🦄 + +&#x200B; + +https://preview.redd.it/r3yjgb0r0dv61.jpg?width=599&format=pjpg&auto=webp&s=d18900d022afe14d2e7cd71274df182dbee9c2f0 + +I frickin love you guys and I promised this would be one of the first things I'd do as mod. Time to give you dipshits some name tags. + +Drop a comment with your desired flair below **KEEP IT CLEAN OR YOU CAN'T HAVE NICE THINGS!!** And stay groovy Baby ✌💗🐈🦄💎💅🚀🚀🚀 +26 years old, single. No debt besides $120K on home. $100K in retirement (vested) and $100K in taxable accounts. Currently paying $400 extra per month on $1000 mortgage. + +Package is 26wks of base pay (based on 7 yrs experience, $60K before taxes)+ 1 year paid COBRA, effective January 13th. + +I have some friends suggesting this is a time to complete home projects, travel, etc but my gut feeling says I should find a job ASAP for the certainty it provides. Maybe a job offer with a later start date is a good ballance? + +Any advice for my situation? What would you do? +Lets stick with the theory that 1 stock turns into 4 stocks but this has no impact on the shorts because they just fire up the synthetic printer to spit out more shares and brokers just multiply your count by 4 and display that number of shares on your screen while dividing the price by 4. + +We trade sideways for a month and nothing happens to the price. Shorts are confident as fuck they have done it again. Kenny goes back to chugging mayo using a boba tea straw. + +Now remember the share count went from 76 million to 304 million. + +Also remember that GME is one of the only companies out there that is shorted above 100% of the float and is working on a Crypto wallet and NFT exchange. + +Also remember a company O Stock who has nothing to do with Crypto released a crypto dividend to squash shorts and have the price shoot up 17x in 4 months. + +https://preview.redd.it/lydm226mfbr81.png?width=1302&format=png&auto=webp&s=9784948175dbac15f4fde09c40c6844d6acfcd11 + +A person who has a billion dollars in stock in a company (RC), takes a pivot to technology / web 3.0. Builds a wallet, marketplace and gains hundreds of thousands of loyal customers / investors in the process. + +You think someone would have a billion dollars on the line and not have a plan to remove the numbnuts who have been shorting his investment since before he got in? + +You really don't think the company would delight shareholders by giving them a non fungible token which can't be copied / created or can kicked? They spent millions building a marketplace/wallet and hiring folks to make it happen. What's the best way to bring a ton of natural traffic to your marketplace? + +This token will be traded on a marketplace that is about to be launched and will have natural volume from their own shareholders who are also their most loyal customers. + +RC knows exactly what he is doing. Increase the share count exposure for the shorts and then releasing a non fungible token tied to each split share. Now imagine releasing a non fungible token each time you want to delight your shareholders and reward them instead of traditional cash dividend. + +Have fun buying back 4x the exposure in NFT from the marketplace which can't be copied, can kicked or manipulated. What's even worse is if GME decides to give out dividends in the future in the form of NFT instead of cash dividends. Imagine a lifetime of NFT dividends that shorts have to buy back and can't copy or can kick x 4 exposure thanks to splividend. + +The stock dividend was never going to squash the shorts. It was to begin the process to roll out the marketplace and increase their share count exposure so you can follow it up with even more dividends in the form of a non fungible tokens. + +RC is playing 69D chess while hedgies are attemping to play 3d chess and melters are playing checkers. + +GME board of directors just increased the share count exposure by 4x. The value of the short is unchanged because the price has been adjusted but when shorts have to buy up 4x the NFT every time GME releases a NFT dividend / split .... you will see fireworks like Larry Cheng mentioned. + +You can read here for more information on how O stock distributed their digital preferred shares which paid out dividends. + +www.reddit.com/r/Superstonk/comments/vvgz0l/process_for_how_a_dividend_share_will_be/ + +TL;DR: Buy, Hold, Shop and DRS. + +🦍🦍🦍 + +💪💪🚀🚀💎💎🙌🙌 +I have always enjoyed what I did for work. Ive been at the same job for about 10 years now and have made incredible friends, and acquaintances, that I see on a regular basis. Over the years with my company I have moved up into a position that has we fortunate enough to be the leader and an incredible team. + +During MOASS I understand that we will really need to keep an eye on the price action in order to go through with my own exit strategy *(With how close we are to MOASS I hope everyone have truly thought about what their strategy is going to be)*. When MOASS kicks off and we start seeing 7+ digit numbers on GME, we will need to focus on the price movement to exit correctly. + +I feel guilty not coming into work during MOASS, and since MOASS will likely take a long period of time *(A week or more)* to play out, I don’t even know how to begin to tell someone I can’t come into work. I feel bad lying about the purpose of me not showing up (I feel like faking a family death or illness is not respectful) as I am letting down a team. + +I know that it is inevitable that I will need the time off, but I just feel anxious about how to approach that when the time comes. Has anyone felt a similar way? + +Or am I just fucked up? +Breaking News Emaar Dubai Has Started Accepting Ethereum +Now You can Buy emaar properties with Ethereum + +For Those Who Dont Know about Emaar Burj Khalifa ( Tallest Building On Earth ) was Build By Emaar Properties. + + + +The New Failure to deliver data for the second half of FEB is hot off the press..... I'll let you guess what's still failing to deliver every day. GME has been failing to deliver every day for months now. + +This is a continuation from my other post. [Pt 1.](https://www.reddit.com/r/wallstreetbets/comments/ll68pc/the_sec_just_posted_the_new_numbers_for_failure/) I wrote a [pt 2](https://www.reddit.com/r/wallstreetbets/comments/lvf0uv/the_sec_just_posted_the_new_numbers_for_failure/) but the gay mods never approved it. + +Failure to deliver is how many shares were not accounted for at the end of the day. GME has been failing to deliver in some capacity for a lot of weeks now. This data is posted by the SEC Freedom of Information Act (FOIA). It is only posted every two weeks, for the previous two weeks. This is the most recent data that everyone has been waiting on. Why is this being allowed, why was this not brought up at the hearings? + +From the SEC regarding this data + +>"The figure is not a daily amount of fails, but a combined figure that includes both new fails on the reporting day as well as existing fails. In other words, these numbers reflect aggregate fails as of a specific point in time, and may have little or no relationship to yesterday's aggregate fails." + +&#x200B; + +SEC FOIA Site: [https://www.sec.gov/data/foiadocsfailsdatahtm](https://www.sec.gov/data/foiadocsfailsdatahtm)File Hot Link: [https://www.sec.gov/files/data/fails-deliver-data/cnsfails202102b.zip](https://www.sec.gov/files/data/fails-deliver-data/cnsfails202102b.zip) + +&#x200B; + +# Most Recent GME Data + +&#x200B; + +https://preview.redd.it/i10wsa64w8n61.png?width=560&format=png&auto=webp&s=0828f8fdd800e2972d457bcfcfc031af855dfd71 + +# Historic GME Data + +https://preview.redd.it/ow447kgev8n61.png?width=693&format=png&auto=webp&s=4fc837b6f5b1f506adef64bec0bc25a61047f393 + +&#x200B; + +https://preview.redd.it/dm58mzihv8n61.png?width=581&format=png&auto=webp&s=96938c5594c82afcfa9d12727b846ffceb22b087 + +&#x200B; + +There are links to information about Failed to deliver.[https://www.sec.gov/rules/final/34-50103.htm](https://www.sec.gov/rules/final/34-50103.htm) + +Is GME considered a Threshold Security? ✅ + +>In order to be deemed a threshold security, and thus subject to the restrictions of Rule 203(b)(3), a security must exceed the specified fail level for a period of five consecutive settlement days. Similarly, in order to be removed from the list of threshold securities, a security must not exceed the specified level of fails for a period of five consecutive settlement days. + +Does the Firm have to close out the positions? ✅ + +>As adopted, Rule 203(b)(3) requires any participant of a registered clearing agency ("participant")[80](https://www.sec.gov/rules/final/34-50103.htm#P210_72014) to take action on all failures to deliver that exist in such securities ten days after the normal settlement date, *i.e.*, 13 consecutive settlement days.[81](https://www.sec.gov/rules/final/34-50103.htm#P211_72496)Specifically, the participant is required to close out the fail to deliver position by purchasing securities of like kind and quantity.Rule 203(b)(3) is intended to address potential abuses that may occur with large, extended fails to deliver.[89](https://www.sec.gov/rules/final/34-50103.htm#P221_79239) We believe that the five-day requirement will facilitate the identification of securities with extended fails. + +I have a super super small position in GME, like 3 shares and 3 800 calls. Because, yolo. I am NOT a financial advisor. Your decisions are your own and I am NOT recommending the purchase, sale, or anything else of any security. +Hey guys, I know this new token has been posted on this sub a few times recently but I just saw on twitter they got Johnny Sins to do a promo video and the price has shot up within seconds, could be worth a punt? + +link to the tweet: [https://twitter.com/CumRocketCrypto/status/1383441455776104458](https://twitter.com/CumRocketCrypto/status/1383441455776104458) + + +For those that don't know they're making a crypto equivalent to only fans, and a NSFW NFT market place, all in one. It's still in early dev phase so it has time for this thing to get really big. I just started buying a few tokens this past week and am gradually increasing my stake. The devs are really interactive with the community and seem to take on board suggestions. This "memecoin" seems to have real world use case and I'm very interested to see how it progresses. The fact they got a super star porn actor involved at this stage shows to me that they're really committed to the product and not just after a quick buck. Could be a long hold! + + +official site: [https://cumrocketcrypto.com/](https://cumrocketcrypto.com/) +telegram: [https://t.me/cumrocket](https://t.me/cumrocket) +discord: [https://discord.gg/Tett4kJsKN](https://discord.gg/Tett4kJsKN) +I think this question gets asked pretty regularly by people looking forward to “Early Retirement” but still wanting to have a little bit of work and the ability to make extra money if the zombie apocalypse happens within the first two years of their retirement. I personally only lasted two months in “early retirement” before I realized I liked my work but not my previous job. So here is my “in the trenches” guide to being self-employed. + +Who this is for: people who already have some/plenty of money and don’t need a steady monthly salary, but want a potential source of income by delivering a service or product they are pretty good at. + +Who this is not for: people just starting their career with no track-record or financial cushion. I am not saying you shouldn’t try self-employment, but the potential risk factors and considerations are different, and this guide might not work for you. + +The first thing you need to do is decide what you want to offer. I would recommend starting off with what people paid you for in the past. If you are a software engineer, coding. If you are a mechanical engineer, CAD design (I know that is a redundant term). If you are a teacher, tutoring. I am an accountant, so I started there. + +I do not recommend going from being a banker to a donut shop owner. Please, please, please do not try being a motivational speaker, crypto guru, or FIRE blogger/youtuber. I say this mostly for aesthetic reasons, not because I don’t think you can make money at it (but you also probably can’t). + +Next, test out market demand for your product or service. I would start with people you used to work with. Because you do not need cash immediately, the conversations don’t need to be aggressive “hard sells” or the pitiful desperation you sometimes see in job interviewing. I have found conversations like “hey, I am available for <this type of work or service> if you need help.” Tell that to everyone. Set your LinkedIn to show your new “job.” Maybe make a website. The bottom line is you want to let people, who already know you are good at your work, know that you are available for ad-hoc support, locums, temporary assignment, special projects, etc. + +Then just wait. If nobody gets back to you for 6 months, reach out again. If you still have nothing, then you might not have been as good as you thought you were at your job. Or maybe you just need to wait longer. This step is the reason why this plan is mostly for people who already have financial independence. The level of stress is significantly less when you don’t need to worry about making rent or mortgage payments. Instead, you can continue to work on other hobbies, projects, skills, or shitposting and treat it as an extended sabbatical. But in my opinion, word of mouth is a powerful sales funnel for people with a recognized valuable skillset. + +If you really, really want work, you can always consider some of the freelancing websites. You already know what those sites are, so I won’t belabor the point. The only thing I would say is that it is better to be “[above the API](https://www.forbes.com/sites/anthonykosner/2015/02/04/google-cabs-and-uber-bots-will-challenge-jobs-below-the-api).” The less you depend on an intermediary for your income, the better. + +Once you get a client, start setting up your “infrastructure.” + +1. Open a separate “business” bank account to collect your income + +2. Consider opening a separate “business” credit card to pay for whatever needs to be paid for. Set up your business credit card to be auto-paid out of your business bank account. + +3. Figure out if you need to register for any sales taxes, business taxes, etc. This is very jurisdiction-dependent, so you will need to do your homework. + +4. If your line of work requires you to be registered with some professional or regulatory association, make sure you do that. + +5. I recommend considering buying commercial general liability (CGL) insurance, but it isn’t necessary if you are not worried about being sued for your work. But just remember that if you already are pretty well-off, you might end up being a frivolous-litigation-magnet. Edit: get professional liability insurance too. Thanks u/redol1963. + +6. Sign up for Xero or QBO or one of the other cloud-based bookkeeping products. Link the bank account and credit card transaction feeds described in steps 1 and 2. Anytime you need to bill someone, use the invoicing function in the bookkeeping software. Use the mobile app to take pictures of receipts and classify any of your expenses. Once it is all set up, your bookkeeping can be done by you and usually will only take a couple minutes per month. It will save you lots of head-aches when tax time comes. + +7. If at all possible, sign up for a service that lets you automatically debit payment from your customer’s account, or go with a credit-card processor depending on the size and number of transactions you process. I use Rotessa, and they are awesome, but there are many options. It should integrate with your accounting software in step 6 to grab all of the invoice due dates and schedule the payments, then tell the bookkeeping software when it has received the cash. **One of the worst parts of moving from being an employee to self employed is shaking people down for money they owe you.** It is terrible. Automate it and avoid these hard conversations. + +8. Hire an accountant and (possibly) a lawyer to make sure you don’t do anything especially stupid. + +As you can see, the above steps will likely cost some money. But the advantage is that you are automating and simplifying your life as much as possible so that there are fewer headaches down the road. Because you are already FI, the infrastructure shouldn’t represent a significant amount of your annual spend, but it gives you the optionality to easily pick up work without much difficulty. Questions about whether to set up an LLC or incorporate are best left to your accountant, but I would recommend not getting too carried away until you know this gig is something you want to invest more time and energy into. + +If/when you start adding more clients, I would recommend you never, ever, ever take on a client that will represent more than 50% of your target “full time” workload. I have found that if you stay below the 50% threshold, you can avoid creating another “job” and maintain the flexibility and autonomy that most people desire when they start a freelancing/consulting gig. You might even want to be explicit with clients that they are the minority of your work up front so that they don’t get any crazy ideas about how demanding they can be. If your line of work is only feasible working full time for a period of time, then I would try to limit the duration of each engagement to give you an opportunity to get out without too much drama if you don’t like that client. + +For charging, my preference is to only offer monthly or lump-sum rates for my service. I know this might not work for everyone, but I would recommend aiming for that. I hate tracking my time and dickering with people about whether the hours are correct. Decide how much you want your time to be worth, estimate how much time a project or client will take, then tell them that is the price. My favourite thing to do if they want to negotiate price is to then offer fewer non-core services or features as a result (“I can’t be offering weekly updates or same-day responses for that price. Is that ok?”). I consider this to be a win-win outcome. They are happy they are getting a better price, and I am happy that some of the tedious or unpleasant aspects of the project or engagement are now out-of-scope. I am not sure how well this translates to all businesses, but I think it is a powerful tool to use when working with customers in many industries. + +If there are customers that turn out to make your life more difficult, just get rid of them. I have tried all sorts of ways of giving subtle hints or trying to convert bad clients into good clients, but it never works well. Just dump them and tell them it is a bad fit. You don’t need this shit. + +And that is pretty much it. Feel free to tell me I am an ill-informed idiot and that these steps are not universally applicable to every human alive today. Both of those comments are probably true. But I can say that I have helped people set up their own “business” in this way, and it can work pretty well in a lot of scenarios. Again, this is only if you are looking for something for a bit of extra cash or to keep your existing skill set sharp. It is a bad way of starting a business if you need a reliable monthly income, or if you hate your current job, occupation, and industry. + +I hope this helps. For those in the know, please feel free to add anything that I might have missed. +&#x200B; + +[They're coordinating marketplace FUD with cutting off funding sources](https://preview.redd.it/0s2mr8985w4a1.png?width=598&format=png&auto=webp&s=00139a9c7ae2ccea581ae499a7fedd8a28d42a4a) + +Posted about this on the bird app here: https://twitter.com/rdlowrey/status/1601236060117139456?s=20&t=H9g6FLglFD6HRa9Yvkq5bw + +I've successfully funded my Gamestop Wallet since launch using Ramp via Wells Fargo and Capital One. As of Q3 earnings date, my deposits started getting declined. + +When I called Wells Fargo to find out why, I was told that Ramp had previously been allowed because it was classified as an "in-app" purchase, but that it's now classified as "cryptocurrency" and disallowed. + +The customer service rep told me he was unable to provide any paper trail documentation on this change via email. + +Watch out, y'all, SHF are ratcheting up the FUD to come after the marketplace. So funny how it just happened to coincide with earnings and the onslaught of NFT marketplace FUD 🤔. +**Link:** https://coinventory.net/ + +**Preview:** + +* https://i.imgur.com/yKsGwOY.gifv +* https://i.imgur.com/Wp0sZ7Y.gifv +* Importing investments: https://i.imgur.com/dmrypf7.gifv + + +Let me know what you think :) also let me know ideas for new features! +People harp on about the housing ladder like it’s this magical pathway to a massive house, but it doesn’t make sense to me.... + +We scrimped and saved to afford our first house, which was really hard to so. People keep mentioning how much it will be worth now and how it might be worth getting it valued with an eye on getting a bigger house. + +But.... let’s say my house has increased in value by a decent percentage surely other other houses have also probably gone up by a similar rate, so how can you afford the bigger house now all of a sudden? Am I missing something simple or just being dense? +Bloomberg) -- Investors appear to be losing patience with Ark Investment Management’s genomics fund. + +The Ark Genomic Revolution ETF (ticker ARKG) has seen roughly $520 million of outflows in November amid sinking returns. The fund is down 27% year-to-date as investors shun health-care stocks in favor for more cyclical names that perform well during an economic recovery. Even so, the ETF is faring far worse than the broader biotech sector, with the Nasdaq Biotechnology Index up 10.49% this year. + +ARKG is currently trading at $66.38 a share, lower than its level a year ago, before a steep rally that crested early in 2021. The genomics fund has also seen the largest outflows among Ark’s ETFs this year. + +“It’s interesting that typically loyal Ark investors have been bailing on the ETF,” said Nate Geraci, president of The ETF Store, an advisory firm. “The fund’s assets have been chopped in half since February. While I don’t believe the ETF is experiencing some of sort of ‘doom loop,’ clearly the outflows are putting downward price pressure on the underlying holdings and testing the will of remaining fund owners.” + +The ETF’s two top holdings, Teladoc Health Inc. and Exact Sciences Corp., have weighed on its performance, with drops of some 45% and 37% this year, respectively. + +The recent outflows may be due to investors looking for shorter-term opportunities into the year-end and freeing up cash, said Sylvia Jablonski, chief investment officer at Defiance ETFs. + +Ark Chief Executive Officer Cathie Wood is well-known for prioritizing longer term investments over short-term gains. + +“This is a 5-10 year hold. AI in health care is going to change the way that we can predict, treat and manage the most difficult diseases like cancer, and the Ark fund gives investors access to the companies who are on the cutting edge of that research,” said Jablonski. + +https://www.bnnbloomberg.ca/cathie-wood-s-genomics-fund-is-down-27-and-outflows-are-growing-1.1685602 +They want you to hate the sec. They want you to hate Gary Gensler. Sure the regulatory bodies do shady shit but they are not a monolith. There are good and bad people in these places. Just because a certain action happens that we don't like doesn't mean that the entire thing is corrupt and useless. + +These institutions are suffering from the same issues that plague every sector. Defunding, corruption, nepotism, etc. But these things are purposely allowed to happen so that then people can claim "they are useless we don't need them". This is a flawed reasoning because without regulators the system would be truly fucked. People love to repeat that we should burn it all down and build it back up but that will probably never happen. + +I believe that we need to fight within the system we are already in. When you see rules and regulations that are under comment period even if you are a smooth brain, give your best to voice why it is a good or bad thing. When you see things you don't like going on, find out who you can contact to make your voice heard. + +They rely on apathy to get their way. When you give up and complain "corrupt sec" you make it easier for them to continue their shady shit. Sure the system isn't perfect, but there are people in it actually trying to do good. If every single person in every regulator was truly corrupt, we would have fallen as a country long ago. + +Finally ask yourself why they would be attacking Gary Gensler? Sure he is not a saint, but he is obviously doing something against the establishment to warrant these attacks. +I’m just curious if anyone has managed to live off their trading gains because of their well defined trading strategy. + +If so, what strategy are you using, how long did it take you to refine and trust your strategy, and how much does it take to achieve this level of financial independence? + +PS - this question is EXCLUDING those who did it with a huge retirement nest from their previous job’s savings / inheritance, eg. Anyone with $1mil in savings can already live off $10,000 per annum in interest, and so I’m not looking at this group of traders. +For those that make enough / have made enough to cover living expenses, what do you do all day? + +Do you still work at your job? Did you quit? + +If you don't work, do you plan on working again? + +Do you indulge in pleasures often? Or do you continue to save and invest? + +What do you do all day? Do you go on crazy adventures like you fantasized about back when you didn't have as much money? Or do you still sit on youtube and reddit all day just like you used to? + +If someone has reached this point in their early 20's what advice would you give them if they still sit on youtube and reddit all day? +I am a 22 year old male studying a Bachelor of Computer Science at Sydney University. I live at home and have been working at start-ups for most of my degree allowing me to save up $55,000. I have 8 more units to go (ie one more year of classes) until I complete my degree. I am also working at a start-up who recently offered to promote me from an intern to part-time permanent staff (possibly with stock options). + +&#x200B; + +However, I don't want to spend my prime years working because I have my whole life to do that. I was considering declining the offer from my employer to focus on finishing my degree plus my social life. I am also craving adventure and want to study overseas for a semester in the USA (I have done this once before in the UK and absolutely loved it). At my core I want to live on my own, work part-time, do my degree, chase girls, and hang out with friends. My parents have advised me that there is no rush and I should take my time with my degree, but also say I shoudn't move out because I will burn through all my money. I'm stuck between 'adulting' and adventure/being a kid. I have been undecided on this for months. + +&#x200B; +Just keen to hear your thoughts on the federal election outcome tonight. Yes it's an early call but it looks like it's going to be the official outcome in the days to come. + I called a company that done some work for me to confirm the account details on the bill, person on the other end was really confused why I want to confirm bank details when they are on the bill. + +I Explained that your bill could have been hijacked during email and details changed with random ones. All I got was a laugh, and a yeah right....... + +With the amount of scams going on in the world, and running a business you would think people would be more up to date on whats happening and how it can affect your business, maybe I'm reading too much into it +*Edit 1: I typed this post up for* [*r/GME*](https://www.reddit.com/r/GME/) *originally, however, in light of recent events I think posting it here might be a better choice. “The Great Migration” that just occurred is our chance to fix everything we didn’t like about the last sub and make* [*r/SuperStonk*](https://www.reddit.com/r/SuperStonk/) *our long time home. One of the main problems I had personally with our last sub was the echo chamber mentality we began to allow. I am completely for downvoting FUD, it has no place in our community. However, just because something isn’t overtly pro-GME doesn’t mean it’s FUD. Read it, digest it, and use it to further analyze this ever changing situation. I’m excited for our future here. Therefore, I’m going to try to lead by example with this post.... let’s see how everyone responds.* + +&#x200B; + +I first want to preface this with a couple of disclaimers so when I see comments about the exact things I’m about to disclaim, I’ll know for certain who did or did not read. (And I’m sure the disclaimer alone is longer than many apes care to read, TLDR at the bottom for you beautiful, simple beings 🥰) + +&#x200B; + +* I’m an idiot. I would use another word that I’m sure would describe my mental capacity much better but I think you apes get the gist. Generally speaking, I don’t post long thought out DD because “brain no werk gud” so... be gentle. +* I’m a very patriotic individual (actually actively deployed to Afghanistan as a part of the US Army as I write this). I love the US and am prepared to die for it. That being said, it’s important to identify faults in our own country and work to fix them. In no way am I trying to say that the US is even close to as authoritarian as China (“where the fuck is this guy going with this...”), however I use China as a comparable example because it assists in describing a potential non-MOASS endgame. +* I’m balls deep in GME and fully believe in the MOASS. Remember all those posts saying “don’t invest any more than you can afford to lose”? Yeah, I kinda treated those the same way I treated girlfriends advising me to use a condom: “I would butttttttttttttt..... it feels so much better to just do what I want so fuck that.” I want the MOASS just as much as everyone else; however, I want to propose a potential scenario that could occur. Plz don’t hate fook me mods +* I feel like this is as much of an anti-DD that can be done considering all numerical indicators from the past couple months point to an inevitable MOASS (so no I won’t change the flair 🤨). + +&#x200B; + +Holding for months on months and through all sorts of volatility has forged diamond balls on many of us - so much so that my wife has permanent bruises all over her body from them (don’t worry I told the cops her boyfriend hit her 👍🏻). So if you have made it this far I am so proud of you already. And I don’t mean for what I just talked about, I mean if you’ve read this far. You’re already in the 1%, it’s just the 1% of apes that can a) read, and b) maintain an attention span long enough to get this far. + +Now onto the info that’s gonna get me downvoted to oblivion and banned from the sub (hopefully not 🙃): + +&#x200B; + +# CRUSHING AN ANT + +I remember around this past Thanksgiving reading an [article](https://www.google.com/amp/s/www.forbes.com/sites/georgecalhoun/2020/11/08/why-china-stepped-on-the-ant-group-part-1-a-bubble-looming/amp/) from Forbes discussing the regulation of a Chinese Company named The Ant Group. The Ant Group was founded by Jack Ma - China’s second richest man (was the richest up until March 02, 2021 when Zhong surpassed Ma). The article I referred to earlier does an excellent job explaining what exactly The Ant Group is for those who have never heard of it. Essentially, it is a high-tech Chinese company that has grown bigger and faster than any other company in history. Naturally, the media has adorned it with superlatives: + +* [The World's Largest Money Market Fund](https://www.wsj.com/articles/how-an-alibaba-spinoff-created-the-worlds-largest-money-market-fund-1505295000) +* [The World's Largest Mobile and Online Financial Payments Company](https://www.businessinsider.com/alipay-overtakes-paypal-as-the-largest-mobile-payments-platform-in-the-world-2014-2) +* [More Payment Transactions Processed than Mastercard and Visa](https://wsj.com/articles/inside-ant-the-company-behind-the-worlds-biggest-ipo-11603798576?cx_testId=3&amp;amp;amp;amp;amp;amp;amp;cx_testVariant=cx_2&amp;amp;amp;amp;amp;amp;amp;cx_artPos=1#cxrecs_s) +* [The World’s Most Highly Valued Financial Technology Company](https://en.wikipedia.org/wiki/Ant_Group) +* [More Valuable Than Any Other Bank](https://www.ft.com/content/3d2f174d-aa73-44fc-8c90-45c2a554e97b) (or would have been…) + +As you can probably see by now, the Ant Group is a big fucking deal. Even though I would die for GameStop and Daddy Cohen, it would be irresponsible to say that Gamestop is as important economically and politically as the Ant Group is (at least for now 😉). + +&#x200B; + +https://preview.redd.it/d55ibwdzefr61.png?width=1080&format=png&auto=webp&s=c26e01b424e24720871d5030ae9a8300fc387abb + +&#x200B; + +Well in November 2020, Ma was ready to take his impressive company public through an IPO on the Shanghai and Hong Kong stock exchanges (which was also a very political statement that you can read up on the previously mentioned article too if you care to). Investors from all over the world were foaming at the mouth at the potential to invest in such an important company (same way we are during those tasty GME dips). So much so that Ant shares had already rose more than 50% in the grey market - which is basically an OTC mechanism that let’s investors bid on new shares prior to the IPO to help gauge investor demand for a particular company. It’s $34.5 billion IPO would have given the company an evaluation of almost $315 billion; AKA bigger than JP Morgan and 4x bigger than Goldman Sachs. The offering was oversubscribed 870 times, meaning retail wanted to buy 870 times the total number of shares being offered (so about the same ratio of borrowed GME shares 🙃). That’s $2.8 trillion worth of orders just from retail investors in mainland China. Not bad for the initial public offering of a company; but what the fuck do I know? I’ve lost three crayons in several of my own orifices since I started typing this (don’t worry, none of the ones I lost were red or green ones. Phew!). + +&#x200B; + +https://preview.redd.it/sgquptqzefr61.png?width=1049&format=png&auto=webp&s=14955e8909ae646dcfb93bd369a7244848f535a4 + +&#x200B; + +So I’m sure at this point you’re probably wondering what the hell this has to do with GameStop. My response is, I’m slow (in many ways).... I already told you that. But more importantly, I wanted to set the stage for what happened and how this relates to all you cuties. + +&#x200B; + +With no warning and just days from the IPO launch, financial regulators from the Shanghai Stock Exchange called a meeting with Ma and Ant’s other top executives. In that meeting, they revealed that they were pulling the plug on what would have been the most anticipated IPO to date. Shortly thereafter, the Ant Group chose to halt its IPO on the Hong Kong Exchange as well. But why would the Chinese government do this? + +&#x200B; + +https://preview.redd.it/t2wredovefr61.png?width=1080&format=png&auto=webp&s=647089c7d01bb14740e6c9b9809acacbd7430f1b + +&#x200B; + +Well this answer is not as clear cut as the story of the Ant Group’s success is. Several theories as to why exactly Chinese regulators pulled the plug have surfaced. Some claim is was based on a distasteful interview Jack Ma gave a short time earlier that painted the government in an unsavory light. Others claimed it was to protect the state-run banks that were forced to pay Ant a cut of their profits in order to extend credit to individuals that the banks would otherwise not be able to serve. While the real reasoning is likely an amalgamation of the two previous explanations and more, the state media claimed the reason was to “protect investors from the prudent risk such a large offering created.” I guess making a dick ton of money off a solid investment is something that should be regulated by the gove.... WAIT WHAT? + +Now I know many of you are probably thinking, “OP you’re comparing apples to oranges. How does an IPO relate to the current situation with GME? ~~God, you’re so stupid. Your parents probably never loved you and your wife’s boyfriend has such a bigger d...~~” While you might be right about some of those things, I think you are wrong about the comparison because what this boils down to is this: + +# Despite immense interest from investors across the entire world, the government stepped in and halted a highly profitable investment opportunity in the name of protecting retail investors from their own “stupidity” or “inability to understand the greater consequences.” + +I bring this up to counter many of the comments I’ve seen stating *“oh the government would never step in,” “everyone would lose trust in the US Stock Market,” “too many investors from across the world are invested in this for the US government to act.”* Respectfully speaking, that’s bullshit. While the US and Chinese governments are very different in many ways, claiming to “protect retail investors” as a guise to make politicians and despicable people like Ken Griffin richer is something they both can find common ground on. + +Whether this fuckery comes in the form of a price ceiling or something much worse, I don’t know. What I am certain of is the fuckery is not over my fellow apes. We have not won YET, but comments like those listed above do nothing more than reinforce the echo chamber mentality that’s been propagated recently. + +Think back to some of the most famous god-tier DD you’ve read on this sub and our former home (shoutout [r/GME](https://www.reddit.com/r/GME/) (thanks for burning the house down [u/plumdragon](https://www.reddit.com/u/plumdragon/))). DD that relates the Housing Market Crisis of 2008 to what we are seeing now. How would it look for the government if the “once in a lifetime recession” that happened 13 years ago was nothing more than a foreshadowing of what’s to come because they continued to let the “free market” be molested by the SAME FUCKING PEOPLE THAT CAUSED THE SUB-PRIME MORTGAGE DEBACLE IN THE FIRST PLACE!!! It would be political suicide! And more importantly, this would result in much more of a loss of credibility than capping the price of a single stock. I mean honestly, think about the repercussions of letting this happen twice in less than two decades... + +The fact that we don’t see counter DD containing clear technical analysis like we do in posts that promote the MOASS, doesn’t mean the HFs are shit out of luck. No part of this GME saga has followed the rules so why do we all of a sudden expect the market to perform as it should? Even though I too enjoy the dopamine hits and half chubs amazing DD like “The Everything Short” causes, we can’t get comfortable. Where did all the posts of apes bugging their Congressman and Senators go? Where did all the posts of apes filing complaints with the SEC go? Where did all the posts of Ken Griffin’s leaked horse porn video go? Actually I think that last one was a dream... regardless, you get the point. In no way am I trying to organize anyone to do anything that could result in the manipulation of the stock market. Instead, **I urge you to let the DD motivate you to act, not just turn your phone off in confidence of the inevitable.** + +**TL;DR** \- Me dumb, like USA, and HODL much GME + +Governments have no problem “protecting retail investors” from their own “stupidity” or “inability to understand the greater consequences.” China did it with the Ant Group IPO despite thousands of international investors’ interests. Regardless of what some have claimed, government intervention is not such an outlandish possibility. The US government fucked up in 2008 and are undoubtedly hoping to prevent anything like that happening again in the near future. The backlash from capping the price of a single stock would be much less than if the government allowed the same criminals, who fucked over so many people in 2008, to do the same, just much worse in 2021. + +If you personally feel obligated to do so, contact your senators and the SEC and make sure they know where you stand on this. Personally, I don’t support government intervention on this particular matter. HFs need to be held accountable for their actions and making Shitadel the example is the perfect way to do it. + +Don’t get comfortable with thinking the MOASS is inevitable. Actively fight for it in whatever ways you see fit; otherwise, this event won’t be anything more than a meaningless anomaly. + +Obligatory: 🚀🚀🚀🚀🚀🚀🚀🚀🚀 + I’ve accidentally found out about this guy a few days ago and it’s quite mind blowing.  + +**Developer called Esteban Abaora has developed a serverless, adminless and decentralized Reddit alternative that will run on a blockchain kind of system (** it will actually use "public key based addressing" and a peer-to-peer pubsub network.**)**  + +**Pretty crazy stuff right?!** + +Developer believes that this design would solve the problems of a serverless, adminless decentralized Reddit alternative. It would allow unlimited amounts of subplebbits, users, posts, comments and votes. This is achieved by not caring about the order or availability of old data. It would allow users to post for free using an identical Reddit interface. It would allow subplebbit owners to moderate spam semi-automatically using their own captcha service over peer-to-peer pubsub. It would allow for all features that make Reddit addictive: upvotes, replies, notifications, awards, and a chance to make the "front page".  + +Finally, it would allow the Plebbit client developers to serve an unlimited amount of users, without any server, legal, advertising or moderation infrastructure. + +[https://github.com/plebbit/whitepaper/discussions/2](https://github.com/plebbit/whitepaper/discussions/2) + +What do you think? Im really surprised by the way he is planning this to work. Its neither DAG nor traditional blockchain. I'm intrigued. Now your posts could live on forever!  +I replied with this to a daily thread message but deleted it because it came out sounding really mean to the guy, but I think it needs to be said. I've seen this idea said a few times since Superstonk's birth and I always wanted to say something but didn't. + +- + +Honestly, it's egocentric imo to think this won't happen because things like this don't happen to you. A group of abusive and corrupt trader's over shorted a company that was failing during a pandemic in the hopes it would die. Instead, a team of the greatest business minds on Earth took over their board (the chairman is the man who proved good customer service in a specialized sector beats Amazon, oh and the CEO basically built Amazon in Austrailia from the ground up and knows how to do it again) and they now have enough cash to operate for years, new warehouses and a door dash same-day delivery partnership, and no debt at all. + +You do not factor into this (other than any impact your buy/sell pressure may bring). You aren't so 'unlucky' (whatever that even means) that reality will bend around you. + +Shorts are in a death spiral and retail realized it. That's it. It's that simple. +My brother (58m) is financially dependent on our parents. He is a licensed professional, but can't get clients anymore. They pay his rent, his health insurance, clothing and pets. He is able to pay for his own food and some small items including his pot habit. He lives as if he is retired mostly playing video games and arguing on social media. He doesn't have many social connections. He has hygiene issues that make him difficult to live with. He has filed for bankruptcy multiple times and cannot rent in his name. His student loans are a large burden, but I don't know more then that. He is obese with health issues. If I let him in my house unsupervised he will raid my kitchen and make himself free to go through my belongings. I don't know what to do with him. + +Edit: Thank you for all the advice. I'm sorting it into a spreadsheet, to organize and discuss with my parents. +Lots of newbs entering this space at the moment. We were all newbs once. And whilst it is tempting to forget fledgling steps (and some luck) which have led to eventual successes, it is important to maintain integrity. + +It may just be me but noticing a lot of "it's just natural selection at work guys", "haha, served them right for being dumb" comments. Whilst I am not the comments police, a bit of empathy does good for the soul guys. Especially in what can be an at times stressful space. Peace. +Welcome to the Daily General Discussion thread of /r/EthTrader. + +*** + +Thread guidelines: + +- Please refrain from discussing non-Ethereum related tokens here. You are welcome to discuss altcoins in the Daily Altcoin Discussion thread. +- All [sub rules](https://www.reddit.com/r/ethtrader/about/rules/) apply here so please be familiar with them. + +*** + + Resources and other information: + +* Find the latest Altcoin Discussion thread in [this search listing](https://www.reddit.com/r/ethtrader/search?q=author%3Aautomoderator+title%3Aaltcoin&include_over_18=on&sort=new&t=all). + +* Newcomers who have basic questions about Ethereum can find answers by visiting /r/EthereumNoobies or our Ethereum Education wiki page, [see here](https://www.reddit.com/r/ethtrader/wiki/education). + +* To view live streaming comments for this thread, [click here](https://reddit-stream.com/comments/auto). Account permissions are required to post comments through Reddit-Stream.com. + +*** + +Enjoy! + +It can be overwhelming when you jump into the crypto space. You find out about Bitcoin from a friend, family, or publication. + +Then you learn about Ethereum, Litecoin, and.. Doge 🐶😂 + +And thennnn you find out that there are thousands of other coins offering all types of random things, whether it be defi, Dex, smart contracts, etc. + +Now that we are having a little correction, rather than checking the folio everyday and worrying, it's a good time to research other projects, see what developers are doing and how their communities are growing. + +So I thought I'd give a brief guide into how I research crypto projects, and if anyone else has any more suggestions, please comment below to help the community. + +1 ) Understand how market cap, coin supply, and price works. This is one of the most important basics to know when looking into crypto value. The best way to do this is to use the formula price x circulation = market cap. + +2 ) what are the fundamentals. +- check the website and see it's well written. +- what is the project trying to achieve? +- who are their competitors and are they doing anything different to them? + +3 ) see if the founders of the project are anonymous or listed. Lack of transparency is a huge red flag in the crypto space. + +4 ) check the community +- are they on Twitter, Reddit, and telegram +- do they have an active community +- do the community talk about the tech or just speculate about price? + +5 ) what is the roadmap of the project? +- are they in test net, or are they live on main net +- what are they looking to achieve over the next 12 months + +6 ) do they have any partners? +- are they collaborating with any other crypto projects +- do they have any plans for adoption outside the crypto space. + +These are just some of the questions I ask when looking for a project to invest in. + +Hope it helps, and good luck with your investment! + +EDIT: Thank you for all the awards! +The startup is a tech startup called [Natural AI](https://natural.ai/#/), which, is a pretty awesome company first off. Secondly, how would you approach valuing a company like this? +Do you guys think that Chinese companies are an absolute no for you? + +Would a Chinese company that is inspected by the PCAOB make you more comfortable in buying a piece of that company? +I’m curious to know if anyone has examples of value-based investments that they executed over the past couple of years that have turned out positive. I’ve been reading You Can Be A Stock Market Genius by Greenblatt and he lists specific investments to illustrate different concepts related to “special plays”. All of the examples in the book are fairly old at this point but I don’t see why someone couldn’t apply similar principles. I’m interested in hearing from folks who had ideas on possible value plays that actually had their thesis come to fruition recently. +I am looking to diversify out of energy / shipping and add exposure to tech. I have big positions in ZIM / WMB / EQT and a few others. + +My only hesitation with tech is the value. Everything seems pricey after accounting for expected growth. For example, pretending the rosy scenarios play out in 5-10 years, most prices now don't make sense. The most apparent example for me is Tesla. + +Does anyone know of any value tech stocks? My preferred valuation methods are forward EV / EBITDA and discounted cash flows. +Coinbase has posted a blowout quarter a few days ago, with $1.6B net income. This would put them on par with companies 3X their market cap. They've experienced dramatic growth in the last year, especially from institutional investors, but their income is still primarily coming from retail investors. + + +There is obviously skepticism in the market about their ability to sustain this profit level, which leads to a depressed stock price. The risk is another pop of the crypto bubble, which could compress their income and valuation. However, there is also a good chance that Crypto will remain as it is today or further grows, which could lead to sustained or growing profits. There is also some reassurance for the short term in Crypto prices inflating in the last few weeks, which would be a good tail winds for a strong Q3, which would further establish them as a consistent performer. + +The way I see it - if Crypto market collapses, the stock could go down up to 2-3X, as they were profitable even before the pandemic, and there is a large set of believers that will continue back it up. But if it maintains its level or continue growing, there is an upside of 3-10X, depending on what happens in the crypto market. + +Thoughts? + +Edit: If you disagree, it'd be good to share your thoughts instead of downvoting. +This applies to land, buildings, factories what have you. I’m asking this question as I frequently see company assets in analysis. + +For example, I recall Hindenburg Research had one of their associates in China go look at a location Ideanomics claim to own or operate within. I don’t remember the exact reason but it must be something they could not answer with tools like Google Earth. + +Feel free to share your input. +Hey Everyone, + +I'm making my way through my first company. Just trying to stick with it and get through the first one and learn along the way, whether I buy it or not doesn't really matter, just want to start practicing. I went back 10 years and have been reading the entire 10k's. I've been finding that it's not the most time consuming thing in the world, but reading through the notes seems to take most of the time and in the end, a lot of the notes at the end don't have anything really important, with the exception of debt and mergers/aquisitions. Do most of you read the notes to every 10K in their entirety or do you skip over that portion of 10k's or something in between? +Hello everyone, + +&#x200B; + +I have been trading for quite some time now but I have recently made a switch to value investing. + +I have been looking at the Gordon Grown model and what I don't understand about it is why would my required rate of return influence in any way a company's intrinsic value. If anyone would be willing to clear it up for me / us I would be very grateful. [https://www.investopedia.com/ask/answers/032515/how-can-i-calculate-value-stock-gordon-grown-model-using-excel.asp](https://www.investopedia.com/ask/answers/032515/how-can-i-calculate-value-stock-gordon-grown-model-using-excel.asp) + +Also I am interested what do you guys use to calculate the intrinsic value of a company, I have been playing around with the DCF model as well but I do not trust any of them fully. + +&#x200B; + +Any answers much appreciated! +So in my mind the "how much does the market value this company" to "how much cash does this company make" ratio is an easier Geiger counter type metric to hint if a company is undervalued. + +I see that most people use P/E and think in terms of per shares. But, I'm really used to thinking in terms of a more zoomed and whole company level (e.g. you could relate it to a DCF) + +I guess, the P/E gives you some additional info around shares (e.g. the ratio changes if company issues shares) but other than that, would you say it's comparable? Would I miss anything else by just thinking in terms of Market cap to FCF instead of P/E? +Been looking into Mapfre (MAP) and on paper I like everything I see. 8B cash, 3B debt, trading under book value and more cash than Market Cap. However I'm not too familiar with the specifics of the life insurance industry. What should I be looking out for? +Okay a lot of y'all reached out asked what the fuck happened with ASKO. I know a lot of you made money but also some of you got burnt. + +Truth is the team didn't plan any of this hype, this was all us, the community. + +Team were super clear they wanted to focus on a soft launch - get it right, check everything twice, take it easy. Community went totally apeshit and there was a tonne of pressure to release it NOW, yesterday, whatever the state. At one point there was an organised FUD gang of 50+ in the chat just mobbing everything and screaming that it was an exit scam. And they kinda got caught off guard. + +So yeah the website wasn't perfect at launch but they **FIXED it** and **FIXED IT FAST**. Lending wasn't ready in time but now it is and it's working and the devs are putting $150K of their own liquidity in to show you it's legit. There weren't enough mods to keep the trolls down but they appointed more. And at the same time they launched a product and listened to your feedback and continuously improved their shit. + +And guess what, the idea behind ASKO is still **fucking great.** It's as big a step change as CEX'es to DEX'es. Take decentralised lending like AAVE but instead of listing a select few assets like a CEX just make it so they can create lending pools for anything on Uniswap. Let people stream into high-risk / high-reward or low-risk / lower reward instead of just giving them one option (lend and hope you don't get liquidated). + +We're only at 12M market cap. Go and look at other projects with 12M market cap. We're keeping company with "Doki Doki finance" and "Casino betting coin" and fucking "Like coin". Go and look at 100M or 200M. Does it really seem like such a stretch to get the same ranking as Duck Coin or Beefy finance? A lot of products in the 200 - 300 rank don't even have working products. Go and look at the other things dOrg have built (Balancer, the Graph). Not at the website, the actual product. + +I didn't sell at 40c and I'm not selling before $2. +Nicheman - HotBit has just announced it will be listing Nicheman! Extremely rare opportunity to make some serious money! + +💎💎 NICHEMAN 💎💎 + +His power is appealing to smaller audiences - Elon Musk via Twitter 🐦 + +🚀 Sitting on 2.5 million market cap with crazy growth potential - Recently doubled overnight! Hop on soon before you miss the train! + +⚡️ Website: https://nicheman.space/ + +Telegram: https://t.me/NichemanBSC + +Twitter: https://twitter.com/NICHEMAN_BSC + +Subreddit: https://www.reddit.com/r/NICHEMAN?utm_medium=android_app&utm_source=share + +🥞 https://exchange.pancakeswap.finance/#/swap?inputCurrency=0xF27580F6a58FF785c60B7c15fD394AB442aAA451 + +ANTHEM: https://youtu.be/EPvJa2N2ea8 + +Nicheman is developed for the investors/enthusiasts who always wanted to own a coin that is community-driven, fairly launched and gives good returns. This coin will cater to the needs of small investors which are often ignored by other projects. + +Over 5500 holders already and a great community with 5000 members on telegram already. + +Market cap is a lot lower than its recent peak, yet the project is still full of enthusiastic investors and a hardworking dev team–perfect entry point! + +Has a unique movement called #NichemanCares. If you lost money in a prior crypto investment due to a rug-pull or scam, we want to help. Fill out a form available in the telegram and we'll send the first 500 applicants .01 BNB of #Nicheman, a real community coin. Even if you're too late for this, there are many more things in store. Just ask the developers in the telegram group, who are active and very helpful. + +No whales in the project (max wallet is 0.6%) meaning no dump on us! 💰💰 + +✅ Fair Launch + +✅ Liquidity Locked + +✅ Ownership Renounced ⠀ ⠀⠀⠀⠀⠀ + +✅ Audited By Techrate ⠀⠀⠀⠀⠀ ⠀⠀⠀⠀⠀⠀ + +✅ Whitepaper Released Yesterday (4-18-2021)⠀ + +✅ More Than 80% of the Supply Burned + +✅ 5000+ Holders + +✅ Dedicated Development Team and Community + +✅ 1.2k💸 Already Donated to Autistics United Canada + +✅ Application of CGBlockchain and CoinMarketCap Under Review + +How is it fair launch? This was a totally fair and community driven launch. There is no way to rug this project. All developer tokens have been BURNED, no one owns any token before sale. Liquidity is locked by Dxsale for 5 years as soon as the sale ended. Contract ownership was renounced immediately after sale. +Question as in the title, but basically want to understand tech business paths outside of engineering that got you into FAT territory. + +We have a less mature tech market in Aus - and people comparatively make less money than in the US - but it is growing quickly with some household tech companies surfacing now. + +I'm in middle management and have come up through a digital marketing background in small to medium size tech businesses. I've missed the boat in terms of significant options that were offered in the early days at my current company - otherwise I'd have a slightly different story - but make $160 - $210k AUD a year based on bonuses. + +I'm 25. + +Most linear path is CMO, and I'll otherwise keep chipping away at that. + +Just interested to know paths people took to get where you are now. If there's specific competencies you developed (eg I have project/product management experience, so that is an option to pivot, as is sales as my targets are always heavily aligned with or directly responsible for growth / revenue and I feel I could do more if I wasn't behind a computer screen etc). + +Thanks! + +*Apologies to those that prefer discussion from people that are already FAT. It is my target - my numbers probably don't translate to much in USD but we generally make less money here and it's not as HCOL as SF or NY. Our (married) household income puts us in at least the 90th percentile in Aus, and we have decent NW for our age if it really bothers anyone. +[Reposting because a bot deleted my first attempt] + +This is a much-needed correction + +This is a long-term investment + +It's still up 500% from [*date that precedes buy date for 95% of subreddit*] + +The whole market is in the red not just [*coin of choice*] + +Whales are keeping the price down + +It's not about a quick profit, it's about the technology + +Just shaking off the weak hands + +You haven't lost money until you sell + +You've only lost time, not money. + +[*coin of choice*] is on sale again! + +Another [XX]% discount! + +Just bought more! + +Take a month off from watching the market + +[*current month*] is always the worst for crypto + +*something something* Chinese New Year + +*something something* Korean exchanges + +*something something* India + +*something something* Asian market waking up +[GameStop.com](https://www.gamestop.com/) || Shop [Internationally](https://www.reddit.com/r/Superstonk/comments/vyyzmx/gamestop_retail_international_nft_game_informer/) || [NFT Marketplace](https://nft.gamestop.com) + +GameStop [Investor Relations](https://news.gamestop.com/) + +# 🙋 ​[What's GME & should I consider investing?](https://www.reddit.com/r/Superstonk/comments/qig65g/welcome_rall_looking_to_catch_up_on_the_gme_saga/) + +# 📚 Library of Due Diligence [GME.fyi](https://fliphtml5.com/bookcase/kosyg) + +>A collection of over 200 of the most important, groundbreaking **D**ue **D**iligence. If your looking to familiarize yourself with the GME bull thesis or the underhanded tactics of the short sellers involved in this trade– then this is for you + +# 🟣 [Computershare Megathread](https://redd.it/vp01of) + +>Wondering what DRS is? Want to know how and why people are Direct Registering their shares? Here you'll find our guide and additional resources, as well as a welcoming community answering questions in the comments! + +# 🥢 [4:1 Split/Dividend Megathread](https://redd.it/vtvbl8) + +>On July 6, 2022, GameStop Corp. (the “Company”) issued a press release announcing that its Board of Directors had approved and declared a four-for-one stock split in the form of a stock dividend. Each Company stockholder of record at the close of business on July 18, 2022 will receive three additional shares of the Company’s Class A common stock for each then-held share of Class A common stock, to be distributed after the close of trading on July 21, 2022. + +# 🏴‍☠️ [NFT Marketplace & Wallet Megathread](https://www.reddit.com/r/Superstonk/comments/vluysg/gamestop_nft_marketplace_wallet_megathread/) + +>Why is GameStop getting into NFTs? *WTF* even is an NFT? How do I set up a GameStop Wallet? How do I get a cool/custom wallet address? All these questions and more are answered here! + +**Read** [**the Rules & Wiki**](https://www.reddit.com/r/Superstonk/wiki/index) **||** [**MOASS FAQ**](https://www.reddit.com/r/Superstonk/wiki/index/faq) **|| Join our** [**Discord**](https://discord.gg/Superstonk) + +Low karma? Want to feed DRSbot? [Post on r/GMEOrphans](https://www.reddit.com/r/GMEOrphans/comments/qlvour/welcome_to_gmeorphans_read_this_post/) + +How to [Filter by Flair & Search](https://www.reddit.com/r/Superstonk/comments/v0oxp2/how_to_filter_by_flair_search_for_posts_on/) on Superstonk + +Tag u/Superstonk-Flairy for user flairs, find [custom emoji options here](https://www.reddit.com/r/Superstonk/comments/v89p0h/new_superstonk_user_flair_emojis_how_to_edit_your/) +With BTC around £2000, ETH around £150 and LTC £32, which would you pick to invest in if you where looking for long term (2-5 year) investments? I brought a small amount via the coinbase app, but after that I am confused! Can I move these to a USB wallet? Is there a better place to start investing in the currencies? Lots of questions sorry just after some good advice. + +Thanks in advance +Which and why? + +Edit: Thinking in the 6mo to 1 year time frame. + +Thanks for all the responses and the discussion this has generated. It is what I was hoping for. + +For myself, I have already invested in PPC and WDC, and probably too much in DOGE but time will tell.. Looking for a few more to diversify a bit further. Namecoin was already on my list to research, but you have given me a few others to think about. Keep them coming. +Since I [first joined this sub](https://www.reddit.com/r/CryptoMarkets/comments/69rsgi/so_ive_decided_to_invest_us2_million_in_a_crypto/) with a $2mil crypto fund, I've profited about US$170k with some ETH shorts (yes, liquidated -- paper P/L not included because I know some will complain). + +Here are my top three picks for May: + +**ETH** + +It'll rebound a tiny bit, but we'll see a pop very soon, *much* harder than this week's dip. + +The market is still weak despite the apparent rebound and the order book is extremely thin. Reminder: A whale was able to drop the price below $25 in a few seconds by cashing out just ~$1mil of ETH. + +**LTC** + +They just activated Segwit, which is positive news. Good for them. I'm not going to ride this news though because the market is already so fragile. + +However, the hype will wear off, and it'll experience a decent correction next month. This will push the price below the current market price of $30. + +**BTC** + +To be honest, I don't really know what's going on with the Bitcoin market right now. It's the only crypto with real-life use so far (drugs) so I'm hesitant to go short. It's probably overdue for a dip, but not as much as some think. + +**Others** + +Any suggestions, let me know in the comments. + +I'm going to be looking into the lower-cap coins now and draw out a 30-day plan of attack. I'll continue to Tweet my trades and balances [here](https://twitter.com/fomoer) for everybody interested. + +Thanks for all the PMs and advice! + +https://twitter.com/fomoer +Just picked up 1,000 XRP because the price has been steadily increasing since I realized it even existed about a month ago. I've read up to 47 of the top Japanese bank already use or plan to allow exchanges using ripple. + +I appreciate the decentralization of cryptocurrencies, which ripple apparently doesn't champion, but it is a path for major banks to enter into cryptocurrencies which I presume would help(?) the growth of cryptocurrency adoption. + +I get any trepidation about FIAT banker involvement in the crypto industry but it seems inevitable and from an investment perspective, this seems like it could catch on quickly internationally and progressing grow with banks in the US. + +What are your opinions of Ripple and it's future? +I obviously can't ask this in either bitcoin sub unfortunately, too much like talking politics there. I just wonder if there's any utility at all for bitcoin cash if bitcoin fixes its fee and transaction time problems. +Its sitting around 15500 Satoshis. It debuted on binance a few days ago at 23000. Good idea to put 10% portfolio in? + +Edit: Blood bath. No one coin is safe. +Warren Buffet is something called a value based investor. He doesn’t just look at numbers on a chart to decide what to buy. He looks at the quality of the company and the value and potential value the company brings to the industry. Buying ethereum is value investing because we all know the potential value of ethereum is very high with further adoption, eth2, layer2 scaling. + +Buying doge though is just gambling. It has no further use cases than what it’s already achieved. You can transfer doge from A to B. You can’t do anything else with it. Unfortunately there’s a lot of people who compare doge to ethereum and they don’t understand the technology or the difference between gambling or value based investing. They think doge is the same as ethereum and they’re buying one generic thing over the other. How wrong they are! + +This is important because not only does it mean ethereum is the safer coin to invest in for the future, but it’s also the more stable one to hold in a crash. The people who DO understand the technology are buying ethereum. The gamblers and get rich quick types are buying doge. These people are much more likely not to stick around in the long run, and will panic sell at the first opportunity. Doge’s price is a lot less stable then ethereums as a result. + +So really the choice here is obvious. Are you here to gamble on hype alone, or are you here to invest in what is clearly the future of finance? +My company’s health insurance has ridiculously high deductibles ($9,500). One of our employees had been having health problems for a while but put off care because she couldn’t afford her deductible. By the time she went to the hospital, her health was so bad that she was dead within 36 hours. + +That situation is my worst fear. I can’t afford my deductible either and I worry that I’ll be in a situation that will either bankrupt me (again) or be my death sentence. +I have an opportunity to sell my business that would net me around $1.5M after taxes. Trying to decide what to do. Thanks in advance for your input. + +**The Business** + +The business currently does not generate a profit because all revenue is put back into the growth. However, it’s probable (based on current growth) that within 3 years it would generate $25-50k monthly profit and would be worth double of what it is now (could sell for $3M after taxes). + +**About Me** + +In my mid-30s, married, no kids. $150k household income. Paying off debt: $65k left. + +**Decision** + +I’ve set a goal to fatFIRE at $10M, so $1.5M is a long ways away. In addition, I see that there’s a lot of potential for my business to grow, and I wouldn’t want to start from zero if I didn’t have to. I love what I do right now and have a blast running my business, even though it’s been 7 years of hard work. I live very comfortably and being your own boss has a lot of perks. + +On the other hand, other than this business I don’t have any assets; on the contrary, I have debt. So it makes sense to sell and get a cushion to build off of toward my $1.5M goal. The market is also a big worry - at some point we’ll enter a bear market, and it would be nice to have cash to invest with. There’s also inherent risk with any business, and it would be devastating to turn down a deal and see the business die (for one of a hundred reasons). + +Very conflicted and any insights are appreciated +I have been trading for about a year now. I've been using a small account and haven't made a profit but haven't taken much loss either. I try to trade Forex more than stocks since I'm not in the US and the markets open at a really inconvenient time for me. + +Risk Management isn't my problem at the moment. The problem is I don't have an edge and don't know how to start my journey to find one. In the past, I would spot price action patterns and support and resistance zones and it was somewhat effective but now all I see is noise. I feel I have flooded my mind with too much information about what I see. + +I have the time and I really enjoy trading I just need some guidance on where to start in creating a business plan and finding my edge. + +Cheers. +Nikola announced this morning that it has partnered with the sun to make it hydrogen powered by the year 2040. Reports say that after this partnership was formed, Trevor Milton found out seconds later that the sun was already hydrogen powered and immediately filed a lawsuit with the sun for infringing on his design patent. +I’m sitting here seeing all the fun apes are having these last couple days what with the encrypted treasure game and the NFT marketplace as a whole, the splividend on the near horizon, and we’re all (don’t lie, you are too) HODLing our breathe waiting for the next move to happen. + +I’ve been in since Jan ‘21, and I’ve seen the Highs and lows, the msm’s slanderous word vomit, the fake marketplace announcement, and DFV in all his glory. I’ve sat through congressional hearings and watched as apes lifted the fallen and their family in a time of anguish and dispare. + +I’ve bought when I could and DRSd those shares, and I’ve done my best to remain zen but right now there’s something happening. + +It’s in the air, and that air is humming with electricity. + +And it’s right now when the history books are written we’ll start to see the turn. The dawning of the golden age. The good ol’ days before we ascend to heights unknown. I’m so happy to be a part of it. I hope you all are too. + +It’s been an honor waking up every morning and seeing star fishes (u/pharago) grace my screen. Having an Ortex update (thanks u/raucethesoss) around lunch time with a side of RRP (u/pctracer) every day. And the evening report from u/mr_boost with some color (u/anonupdooter) representing how well the day went. + +I’ve made friends here and I’ve gotten closer to some real life friends. I’ve seen anger and watched apes work so hard to keep other apes from fighting. We’ve had some damn spicy weekends, but in the end we sit here, buckled up, side by side. Ready to ride. Welcoming new apes along the way, and standing strong side by side with other fellow 21ers. + +I’ll miss this when we finally launch. But I’ll never forget it. +# Remember [Citadel has no clothes](https://www.reddit.com/r/GME/comments/m4c0p4/citadel_has_no_clothes/) ? + +Believe it or not [u/atobitt](https://www.reddit.com/user/atobitt/) wrote his DD 9 months ago already. By then Atobitt reviewed Citadel's financial report and pointed out Citadel's amount of Liabilities with a tremendous increase yoy 12.31.2019 to 12.31.2020. + +* "Securities sold, but not yet purchased, at fair value " **$57.5 Billions** (up from 25.27b end of 2019) +* "Derivative Liabilities/Options" **$32.386 Billions** (up from 9,646b end of 2019) + +Note that this data is most probably not presentative for the entire positions of the Citadel conglomerate and lot more parameters came through other DDs since. + +https://preview.redd.it/z7nv324orh581.png?width=1675&format=png&auto=webp&s=5a15ed33e193a736cf302c2b0af54870b7e007f2 + +Well yet again Citadel's financial year ends on **December 31st 2021. That is in less than 3 weeks.** + +And they will have to publish their Annual report (Form X-17A-5) by end of February (as per previous submissions see picture). + +Don't get me wrong here, Citadel has been fined multiple times for inaccurate reporting and I don't expect it to reflect 100% of there real financial situation. + +Yet the report is supposed to be delivered by an independent organisation (PWC here), that also has its reputation on the line. So there is just so much they can hide without raising more flags. + +Taking down the price until Dec. 31st could be a necessity for them to keep kicking the can down the road. + +Final note: I understand November's FTDs are due next week and are very likely to be the reason behind this price movement (to cover at a lower entry). And most of us expect the price to rise like a phoenix (again) next week. However, I am also expecting further fuckery. + +One thing is for sure... I am very curious to see the next statements, see their liabilities but also how much AUM melted over the year. + +Source to check in 2 months ? >> [https://sec.report/CIK/0001146184](https://sec.report/CIK/0001146184) + +**EDIT1:** Apes pointed out below that the same PWC fuckers have signed Evergrande's financial statement. +"I think we should put users first. What do users want? They want low transaction fees and fast confirmations. Lets design for that case, because THE USERS are who ultimately give Bitcoin value." +12 years at 4% withdrawal with no overall gain in the market would be 4\*12% = 48% of your net worth spent! Does this effect the idea of being able to rely on FIRE and a safe withdrawal rate as a reliable retirement plan? + +Here is an image of the stock price of the S&P 500 over that time range: [https://imgur.com/a/CCWgxWN](https://imgur.com/a/CCWgxWN)​ +I apologize if this isn't the best community to post this in but I don't know where else to turn. + +I have maxed 3 credit cards and ran my checking account into the red. It feels like I am drowning and I have no idea where to even start to fix this. I have cut off all outlets that would trigger me to gamble so as long as I hold true to that what should my first plan of action be to address this? Credit card debts total up to around 15k and I have over due bills that need to be addressed as well. +First time poster, so go easy on me. + +I'm 35F and own a small company (LLC S-Corp) that, at the moment, does not offer a 401k option (I hope to be able to in the next 1-2 years. Pandemic set us back.). I went full time with this business in 2015, and have not been actively contributing to a 401k since then. + +Back then, I rolled all my disparate retirement accounts from various jobs into a single, Traditional IRA. At the moment it has about $52k in it. + +Shortly after, I opened a separate Roth IRA. Unfortunately my contributions to it over the past few years have been slim as I got the business off the ground. I have about $2k in there. + +So, in short: +No 401k at the moment +Traditional IRA: $52k +Roth IRA: $2k + +I'm finally getting close to a point where I can make more regular contributions, but now I'm not sure where I should be putting that money. + +Does it make more sense to contribute as much as possible to the smaller Roth? Or am I too late to the Roth game, and should just focus on maxing out my Traditional IRA and the greater gains there? + +I'm also considering rolling my Traditional over into my Roth, but I'd probably have to do that over a series of several years to not kill myself on the taxes. + +I make about $40k a year, gross, and pay myself as a W2 employee, if that matters. +**What is yield farming?** +Most broadly, it means getting some benefit for providing capital, usually in the form of tokens. +Currently, there are three major different schemes: + +1. Staked funds aren't utilized in any way and tokens are distributed proportionally to what's staked (may be dai, weth, ycrv, or other tokens). +Token price risk: zero. Token accrues, but even if it falls to zero you lose nothing. +Smart contract/protocol risk: depends on the staking contract, usually low to zero. Contracts are usually simple modification of the first contract used by yearn (taken from synthetix), making analysis easy by only looking for differences. +APR: may start high, but usually collapses fast to *relatively* low values as funds pour in. + +2. Providing liquidity in trading pools. +Tokens are gained in return for providing liquidity for requested tokens on uniswap, balancer, curve, mooniswap. +Token price risk: medium to high, depends on pool weights. See these two articles for details on how liquidity providing works: +[Uniswap](https://medium.com/@pintail/uniswap-a-good-deal-for-liquidity-providers-104c0b6816f2) - pool weight is always 50%/50% +[Balancer](https://medium.com/balancer-protocol/calculating-value-impermanent-loss-and-slippage-for-balancer-pools-4371a21f1a86) - arbitrary pool weights, down to 2% for one token. Can be multitoken, not just two. +Smart contract security risk: medium to high. In addition to checking the (usually simple) staking contract, requires security analysis of the token contract. If it's possible to mint a very large amount of token, or someone has a hidden enormous stash, the attacker could clean the pool by dumping them at once. +I'm aware of one scam called "YYFI" that did this - [you can see the attacker successively getting DAI from the balancer pool](https://etherscan.io/address/0xe857656b7804ecc0d0d0fd643c6cfb69063a7d1a). Fortunately for the victims, he wasn't very competent and did everything manually, giving time for people to withdraw. A more competent attacker would automate the pool cleaning process in a smart contract. +APR: usually very high - upper three digits or four. It's rarely realized APR because it's calculated assuming that token price stays constant. If you think the token being distributed is undervalued definitely the best option to farm. + +3. Depositing and borrowing funds for defi. +Currently utilized by compound and cream (a compound clone). Users get rewarded with tokens for lending and borrowing tokens. +Token price risk: zero. +Security risk: the most complex to analyze option of all, although Compound itself is definitely the safest defi dapp on ethereum. + +--- + +Warning: gas fees are high. $10k is probably the minimum amount that makes sense for active manual farming, which still only makes sense for a more long-term farms like COMP or CRV, at the cost of not maximizing APR. I have spent over $3k in gas during the last two months by farming very actively. Below $100k, or if you don't want to spend a lot of time on this, it's probably best to deposit your funds into one of yearn vaults that yield farms for users. +https://yearn.finance/vaults + +--- + +A partial list of current yield farms (feel free to comment with more farms! I can edit and add them to this list): + +- COMP farming, the oldest one (I think?). Relatively low returns (58% on DAI), safe, no price risk. Efficient way to farm is to supply and borrow the same asset (can be done via instadapp) up to maximum leverage possible (with some margin for interest payments). +- BAL farming, provide liquidity to BAL pools. Safe smart contracts (just don't deposit deflationary tokens). Price risk and APR depends on the pair. +https://balancer.exchange/ + + See returns for both balancer and compound at https://www.predictions.exchange/ + +- [YFV finance](https://yfv.finance/), one of the many clones of YFI. The seed pool is safe IF you withdraw before the staking period ends (see the security part). +Current APR on stablecoins: 121% + +- CRV farming, providing liquidity to curve pools. Mostly safe - curve smart contracts tself are safe, but keep in mind if one of tokens in the pool collapses (renBTC is probably the riskiest) other tokens are going to get drained. +You can see the current APR on https://dao.curve.fi/minter/gauges. As of now, the highest APR is for compound pool - 105.27%. It's varying and there's complicated game with CRV voting that impacts it. + +- CREAM farming. [CREAM](https://cream.finance/) is a clone of compound. It's definitely less safe than Compound. Initially, it launched with a direct control by one normal address, but [recently they moved to a 5-of-9 multisig](https://medium.com/cream-finance/v3-beta-liquidity-mining-multisig-finalized-3152b062e27c). + +- YFII, another YFI clone. Current APR 95%. https://yfii.finance/#/staking + +- Mstable, liquidity providing with stablecoins. APR about 50% (MTA + BAL). https://defirate.com/mta-yield-farming/ + +- [Zombie](https://zombie.finance), meme token. Current APR is abysmal (33.5%) but token may unexpectedly pump, increasing it. There's a smart contract bug that, as long as rewardDistribution and owner aren't set to zero, potentially allows rewardDistribution to lock all staked funds (not steal). Makes zero sense as of today. + +**NEW** + +- [Sushi Swap](https://sushiswap.org/) - stake Uniswap LP tokens. Four digit APR, varying levels of price risk, depending on the pool. (added on 29 Aug UTC) + +--- +Analyzing security. + +**Edit: warning, a new type of scam just happened - degen.money site asked for token spending approval on the attacker's address, in addition to the (safe) contract's address. Always ensure you're approving a correct address.** + +Yield farms come and go. The key to earning high returns is to be agile and to jump fast into new farms, which requires manual analysis of security. Of course it's possible to yolo in without any analysis, but I don't recommend it. I'm going to show an example on two recent farming contracts (of the first type - funds just sit in contracts). + +[Original yearn staking contract](https://etherscan.io/address/0x033e52f513f9b98e129381c6708f9faa2dee5db5#code). +[GRAP staking contract](https://etherscan.io/address/0x3E80D57929E177EBc0Bbf6A08F98EA20D9b5c3e0#code). +Let's load two codes into a text diff tool, [like this site](https://text-compare.com/). What interests us on the code level are changes relating to the withdrawal capability, which in the original code are limited to the withdraw() function. +We can see that the only substantial change is the addition of the checkStart modifier which prevents both deposits and withdrawals if it's too early. As startime is set directly in source code and can't be modified anywhere, that change is safe - if it doesn't throw on deposit it's not going to throw on withdraw. + +The next step is switch to the 'read contract' tab on etherscan and look at two variables: owner and rewardDistribution. +In Grap's case, they lead to a timelock contract that requires all changes to wait for at least 24.5 hours - which makes any fund lockup extremely unlikely. At worst, we only have to look at the rewardDistribution contract once a day to see if there's any pending change. + +GRAP farming is now finished with no security incidents. + +Second example: YFV. This one is still active. +[Contract link](https://etherscan.io/address/0xC2D55CE14a8e04AEF9B6bCfD105079b63C6a0AC8#code). +After comparing them we can see that changes are much more extensive. The withdrawal function also has the checkStart modifier, but that part is fine (ctrl-f to check if starttime can be modified somewhere else - it can't). What's the problem is the checkNextEpoch modifier. There's a lot of things there and three external contract calls (mint calls). If anything in there throws, withdrawal would become impossible. Dangerous. However, that only happens after the staking period ends, so withdrawing before block.timestamp >= periodFinish is *relatively* safe. + +Another check is to look at the owner and rewardDistribution variables. Owner is set to zero, but where's rewardDistribution? Unfortunately, contrary to GRAP, it's private. It's possible to read it with the getStorageAt web3 api (although finding the index is more work - it's 3). However, the team has [provided a link to the transaction in which they set rewardDistribution to 0](https://medium.com/@yfv.finance/burn-government-key-aa737fd06dc7) so it's fine. + +In conclusion, as long as you don't hold the funds after the locking period ended there's no security risk here. The current period ends on Tue Sep 1 14:02:29 2020, UTC. +https://www.foxbusiness.com/economy/new-yorkers-want-amazon-hq2-pullout + +Amazon pulled out of its plans to build a second headquarters in New York nearly two months ago, but a new survey found that a majority of New Yorkers in the congressional district of Rep. Alexandria Ocasio-Cortez -- a fierce opponent of the $3 billion deal -- want the world’s largest online retailer to reconsider its decision. +During last week I have seen couple of posts where people wanted to invest in 0.0001$ penny stocks. This screenshot is from [barchart.com](https://barchart.com) Im using their FREE premium account and was able to screen those. there are more stocks, prices from $0.0001 and going up. + +DISCLAIMER: Im just providing the list of the stocks which is super cheap but you have to do the research about the company and decide if its valid company or scam. DO YOUR OWN DD ( as pro traders saying, im beginner ) and invest after. Im NOT financial advisor, Im a broke NOOB student. + +P.S if you find good companies let us know too. + +https://preview.redd.it/zhb7mmkessh61.png?width=1157&format=png&auto=webp&s=4b2d92db801792925aa832fc3a4a04eda61ab5a0 +Here are the facts: +-Age: 58 + +-Salary: 78,500 (does not include child support or alimony) + +-Owe 400,000 on mortgage, 2% interest + +-monthly mortgage pmt 2800. + +-1200 per month rental income (bsmt apt w/o kitchen) to 2 people - all utilities are included + +-Child support/alimony payments of 1300 per month (this will cease in May 2016) + +-bills are 1200 per month, including utilities that I pay alone + +-my two children live with me (21, 24) + +-my credit is borderline fair/good after going through a pre-foreclosure + +-I'm planning to retire in 10 years; I have a pension plan through work + + +I want to live comfortably, whether it is in my current home or somewhere else that is more affordable. I would ideally prefer to keep my house; I've lived here 25 years, rebuilt 15 years ago so everything is new; and it is worth at least 700,000. I want to balance long term and short term comfort to the best of my ability, and am open to suggestions as to how I can pull off keeping my house, if that is a good decision. My number one alternate option is selling the house and buying a townhouse for 400,000. + +I'm already struggling to make ends meet, and it's going to get worse after I lose the child support and alimony. I don't want to sell my house if it's a poor investment decision, but I don't see any way around it. Feel free to ask questions if I've left anything crucial out. What is my best chance at living comfortably? +What are the best individual/etf dividend stocks to buy long term and to continuously reinvest in? I’m looking to build a small portfolio between 10-15 stocks/etf and would like to know which are best to continuously buy and reinvest in. Any advice is welcomed! +I've been investing in TSLA for years with some shares up 4000% and others up as little as 20%. My position is ~4600 shares along with some TSLA LEAPS. The valuation is $5 million. I have another $3 million in other assets (real estate and some Vanguard index funds). + +I have only focused on investing with size into TSLA and then some passive index investing with Vanguard. + +I'm not necessarily looking to sell off my TSLA now but I am exploring the idea of exiting a large portion so that I could reinvest into dividends, etc, and live off the income stream. + +I have shared this similar story in a few other subreddits and was recommended tickers like SCHD, QYLD, QYLG, XYLD, RYLD, YLDS, etc. Another person recommended I post here in the dividends community. If anyone has done this in a lump sum manner I'd be interested in what you did. + +Note: In the past, I avoided dividend investing because I'm in a high tax bracket and didn't want to pay extra taxes on dividends while I was still working (I figured I would focus on investing in a growth stock company I spent a lot of time studying where I knew that I wouldn't have to think about dividend income anytime soon). If I did this trade I'd also quit my job for now. +Hey there I started looking to covered calls and it seems a little too good to be true so maybe someone can enlighten me. Say for example I have over 100 shares of O which hovers around the $60 range. Could I just sell weekly Call options for 62.5 or $65 and make a little premium on top of my dividends? I feel like I’m missing something cause this seems so easy for these stocks that doesn’t move quite a lot. (I do know the risk say if it hits that strike price it most likely will be exercised) if any of y’all have some info or advice it would be much appreciated! +What are the best individual/etf dividend stocks to buy long term and to continuously reinvest in? I’m looking to build a small portfolio between 10-15 stocks/etf and would like to know which are best to continuously buy and reinvest in. Any advice is welcomed! +I’m looking to see how everyone else views QYLD. Currently I add about 2-3k a year to my Roth IRA to use as an income stream in retirement. I full well know that there are better options for growth and that my Roth should be focused toward that, but I already have a 401k with a company match that I’m close to maxing out. Does anyone else see QYLD as a source of income for the future? +I've been investing in TSLA for years with some shares up 4000% and others up as little as 20%. My position is ~4600 shares along with some TSLA LEAPS. The valuation is $5 million. I have another $3 million in other assets (real estate and some Vanguard index funds). + +I have only focused on investing with size into TSLA and then some passive index investing with Vanguard. + +I'm not necessarily looking to sell off my TSLA now but I am exploring the idea of exiting a large portion so that I could reinvest into dividends, etc, and live off the income stream. + +I have shared this similar story in a few other subreddits and was recommended tickers like SCHD, QYLD, QYLG, XYLD, RYLD, YLDS, etc. Another person recommended I post here in the dividends community. If anyone has done this in a lump sum manner I'd be interested in what you did. + +Note: In the past, I avoided dividend investing because I'm in a high tax bracket and didn't want to pay extra taxes on dividends while I was still working (I figured I would focus on investing in a growth stock company I spent a lot of time studying where I knew that I wouldn't have to think about dividend income anytime soon). If I did this trade I'd also quit my job for now. +... + +...'The thing is... if you hf Ethereum it basically happens nothing. +Maybe the market price per Ether decreases but Ethereum keeps its function. +Ether isn't a value holder. It is a supply to build things (ex. dApps, ENS). The market is the one who makes Ether so valuable. The better the technology the higher the price because if it will be the Web3 then you need Ether as a supply. +Bitcoin on the other hand hasn't a function other than being a currency and so a value holder. A Bitcoin hard fork will split the market with the consequence of making the orig. Bitcoin BC not longer valuable because no one wants to use an outdated software. +ETC isn't worth as much as ETH because it hasn't the functions of ETH. There isn't such a thing as a Ethereum Classic Alliance or incoming ENS/Raider. +Vitalik doesn't want to destroy Bitcoin. He doesn't even see Bitcoin as a rival.'... + +...We're bridging the gap, people! + +LET ME FEEL SOME HEALING. CAN I GET A HALLELUJAH AMEN, BROTHA~! +Well I've really blown up my account. I have -142k on margin in TDA and basically no buying power. I've sold spreads and they've gone against me. Any advice on what I should do? I've been trying to trade myself out of this hole and have gotten dug in deeper. Should I liquidate some stocks to reduce my margin balance? Should I do something else? Should I throw more money from my income into this account to get that margin balanced reduced? The monthly margin cost is nothing compared to the losses I've had but I'd still like to reduce my margin balance. +I just want to make sure I'm not overlooking anything here... + +Background: While I mostly trade short options, I have accumulated some long shares. Most of these long share are not in even lots (25, 150, etc). These are typically companies that I hold for dividends, or just that I think will perform reliably over a longer term, but I don't want to commit an excessive amount of capital to. + +&#x200B; + +What I would like to do is sell options against these shares to reduce delta and create theta. My thinking is that if I have, say, 25 shares of XYZ, then I could sell a 25 delta call, and be delta neutral, but generate theta. Obviously I would be exposed to gamma risk, as an increase in the underlying would eventually cause the short deltas to outweigh my long shares. However, by periodically adjusting the position (either by rolling the strike or buying more shares), I feel that I should be able to prevent things from getting out of hand. Realistically, with 25 shares, I would likely sell a 20 delta to allow a profit from little upward movement (since I'm still bullish overall) before the position becomes an issue. + +The biggest risk I see would be a crazy AMC/GME type event where I could get totally destroyed overnight. That said, I don't anticipate that happening with stocks like WMT, HD, etc. + + Early exercising might be an issue, but I *should* be able to cover that without much loss, if any. + +Is there anything I'm missing? + +Any reason why this is a terrible idea? +The U.S. stock market put in a resilient performance on Thursday, given the data showing inflation surging to a new 40-year high even before the impact of the recent sanctions on Russia, what appeared to be a pretty dismal result from the Russian-Ukrainian meeting of foreign ministers in Turkey, and a surprisingly hawkish decision by the European Central Bank. + +Besides the humanitarian catastrophe, sky-high commodities prices have been the result so far of what has been a two-week invasion. Economists at Goldman Sachs have now cut their forecast for growth for the world’s largest economy in 2022 to 1.75%, from 2% previously and the consensus of 2.75%. + +It’s a pretty straightforward call. “Combining our commodity strategists’ forecasts with estimates of pass-through to consumer prices, we estimate that rising gas and food prices will create an effective 0.7 percent point drag on real disposable personal income in 2022 with larger drags for lower-income households whose spending is typically more sensitive to fluctuations in income,” said the note written by Joseph Briggs. “Although households will likely partially offset this income drag by reducing savings, this hit to income should weigh on spending in 2022.” + +Besides commodity prices, the Goldman team also noted that consumer sentiment tends to be affected by geopolitical crises, and already gauges from Morning Consult and Ipsos have dropped. The downgrade to Europe’s growth prospects will hit U.S. exports, and a tightening of financial conditions will also weigh on U.S. growth. + +The Goldman team said, if anything, they may be too positive on the outlook for the U.S. economy. “Even after these downgrades, we still see risks around our growth forecast as skewed to the downside, particularly if sanctions escalate or if oil prices rise even further, for example, to the $175/barrel price target our commodity strategists see as possible if supply losses reach four million barrels a day. Additionally, we have not assumed any growth hit due to metal shortages since—aside from palladium—only a small share of U.S. commodity demand is met by Russian exports,” said Briggs. + +Recession risks, they said, are mounting. While they expect further service-sector reopening and spending from excess savings to keep the U.S. economy growing, they said the chances of a recession next year are between 20% and 35%, or roughly as implied by the slope of the U.S. Treasury yield curve. + +[https://www.marketwatch.com/story/goldman-cuts-u-s-gdp-forecast-to-a-full-point-below-consensus-as-it-says-recession-odds-are-as-high-as-35-11646999690?mod=home-page](https://www.marketwatch.com/story/goldman-cuts-u-s-gdp-forecast-to-a-full-point-below-consensus-as-it-says-recession-odds-are-as-high-as-35-11646999690?mod=home-page) +My girlfriend has accepted a job in Rome, starting early next year. I work as an employee in IT for a UK based company. I would really like to keep my job. If I became a contractor rather than on PAYE, could I file for taxes in Italy whilst still working for the UK company? What do I need to be aware of? +Back at the beginning of my journey I let my boss know about my favorite stonk.... I got in at a bad time and like many of you knew nothing about what I was doing. We made our March run up and he asked how much I made. I said I never sold. He kinda chuckled. I've held and avged up very much since my original purchase which he does not know. Today he says "I bet you wish you'd have sold that a few months ago don't ya?" To which my only response was, "the only thing I wish is that you paid me more so I could afford more shares" I don't think he liked that very much. Then I said "don't worry, I'm not planning on quitting right away when I have enough money to retire, I'll make sure you have 2 weeks to try n replace me." He laughed to himself and walked away. (I am irreplaceable considering I work on straight commission and still sit in the office 8 hrs a day and help him with marketing and all the customer service bs that has to be done on the daily for $0 an hour) Now I am considering not giving him that 2 weeks. Anyways much love to everyone who holds! My tits are jacked for the rest of August! To the moon Boys! +Hey + +I've been looking at buying another used car and was having a discussion with my flatmates about how much debt the average car has on it so thought I'd see if anyone on this subreddit knows or works in that industry so knows where to look to find out? + + +I asked around the office and even most used car purchasers seem to be funding it through debt (not talking about pre tax novated lease as a way of freeing up cash to invest at a higher rate of return, only pure post tax debt financing) +It seems pretty clear the exponential price action last year was all based on hype surrounding GME rumours, there was no actual substance to it therefore the price isn't holding up. The market cap to TVL ratio is still high at 4.5 so I don't see this downtrend ending anytime soon without any new catalysts. If you compare this to another hyped coin like CRO, which saw a meteoretic rise and who's price has stabilized since then (especially if you look at the CRO/BTC pair), you can see that LRC is nowhere near a bottom. I could easily see Loopring dropping below $1 again, assuming no significant BTC movements happen. + +And yet, all I see on this sub is more threads shilling the coin and doses of hopium about the long term potential? Nobody is seriously discussing price action over the last two months which is a huge concern to me. I'm not arguing that Loopring is a dead project, far from it, but the short term price prospects are very meagre. Everyone should decide what to do for themselves i.e. risk management, but I don't see any value in bagholding it when there's no end in sight for the downwards trend. + +Don't get me wrong, I see huge potential in ZK roll ups and in particular LRC for the next five years eventhough I don't own it myself. In fact, I'm looking for this downtrend to end so I can buy it when it eventually consolidates. Since Loopring is by far the most shilled coin on this sub , I feel bad for the ones that FOMO'd in after the price rise in early November. These people are seeing their gains evaporate like snow in the sun or are suffering big losses. Maybe an announcement by Gamestop at the end of this month or during the next earnings call will stop this downtrend, but I don't see it stopping anytime soon before that. + +EDIT: To anyone commenting that price doesn't matter, well it does. Let me put it this way, if LRC is $1.35 and you feel like it will move below $1 in the short term: you should absolutely sell because you can increase your holdings for the long term with 35% + +EDIT 2: Obviously DCA'ing is also an option when the price drops, I would wait until the price stabilizes though + +EDIT 3: Since I received the suicide care message from Reddit and multiple threats in my inbox, I will no longer interact with this thread. What a shame that people can't behave. +Please don't blindly shill your bags here. + +I'm looking for genuine discussions on well developed projects based on Ethereum. Something that all Ethereum fans can be proud of and support, regardless of financial motives. + +Cheers! +Welcome to the Daily Altcoin Discussion thread of /r/EthTrader. + +*** + +The thread guidelines are as follows: + +- All sub rules apply here so please review our **[rules page](https://www.reddit.com/r/ethtrader/about/rules/)** to become familiar with them. The rules page is also linked in the announcement bar above. +- This thread is intended as a welcome place for discussion of all non-Ethereum related crypto. + +*** + + Resources and other information: + +* Newcomers who have basic questions about Ethereum can find answers by visiting /r/EthereumNoobies or our Ethereum Education wiki page, [see here](https://www.reddit.com/r/ethtrader/wiki/education). + +* To view live streaming comments for this thread, [click here](https://reddit-stream.com/comments/auto). Account permissions are required to post comments through Reddit-Stream.com. + +*** + +Enjoy! + +Twitter post about the addition [here](https://twitter.com/compoundfinance/status/1151268786923642880). There is even an easter egg.... 🤓 + +Blog announcement [here](https://medium.com/compound-finance/adding-wbtc-to-the-compound-protocol-b032da38511c) +Highly specific post, which can be subjective depending on region/product/seniority, there just isn't a good place that I've found even one meaningful data point. + +Currently a VP at an up and coming bank. I generally do alright for now (300k/year, age 31), but I'd like to see what the next 20 years could bring in terms of all in comp. Personally, I'd like to hit MD at age 40, grow until I clear 1m/year and then maybe just coast from a comp perspective until I'm around 10mm NW and then just peace out. I want to retire, but if there is a decent lifestyle with a very attractive comp I may not fatFIRE and just keep plugging til my mid to late 50s. No way I'll keep working beyond 60 unless something catastrophic happens. + +Bankers or people in the finance world, how is the trajectory in the more senior levels in your 30s/40s/50s all the way up MD or senior MD? Are you clearing in excess of 2mm/year? How did your NW look as you progressed in the ranks? + +A lot of different questions just about the general path here, but any insight to the above and below would be incredible for me as a mid level guy looking to make this my career now. + +- Do you have a general number and timeframe for retiring? + +- How much of over $2mm income can you realistically clear on a year to year basis at your level? Given your salary, would you probably be a banking lifer rather than fatFIRE? Is the $2mm mark off, can it be substantially higher depending on how many deals you close? + +- Where have you considered living if in the NYC area? Westchester/LI/Jersey/Manhattan proper? How do you manage your growing NW while plopping down heavy on a home? Target range 2mm-4mm on a 3br/4br in the city feasible? Maybe just rent indefinitely and have a weekend home out in the burbs? + +- How real is the golden handcuffs/keeping up with the joneses? If you are about fatFIRE, how do you trim the excess a bit and still manage a solid NW and a clear plan to retire soonish? +I've been having some inner conflict about this recently. I had kind of a realization that the main reason I have been planning out an FI track the last couple years is because I am too lazy and undisciplined to focus on my profession and career growth, and the associated sacrifices. Not because I want the freedom to pursue other endeavors. + +I have a pretty great career (aerospace engineer) which is relatively high paying but to be honest I really don't care about it outside of the occasional interesting challenge. I am a good worker but I essentially have no interest in advancing and 'climbing the ladder'. I have an inkling it is for negative reasons, like that I am unconfident in my abilities and the competitiveness, so rather than try to play the game I resign to the fact that I am where I am, but that I can focus on saving (the easier sacrifice to me), and check out entirely 20+ years ahead of everyone else. + +I really do not relate to my peers' focus and hustling in their careers. Even while finding my work engaging and challenging at the end of the day in the office I'm thinking "what the hell am I doing here". I feel ambivalent about it, like I should be focusing passionately on something rather than just accepting my current trajectory to retirement, but I also don't feel particularly drawn to anything else. Other than just simply not having to go to work. Is this a normal attitude to have? are others simply better at faking it and disciplining themselves to care? I could use some wisdom if this seems relatable. + +Or at least used to thrive off of privacy now that there are things like KYC on almost every centralized exchange. + +But still, no centralized exchange will ever be as bad as Facebook’s Meta. + +I despise them. They steal our private info to sell to companies for ad targeting. + +Watch how the market will start getting littered with ads (even ones unrelated to crypto) once Meta starts monopolizing the crypto space. + +I think the only way to avoid this would be through allowing publishers to monetize without ads through users’ processing power. Networks like Gather are already doing that so lets hope this swerves away companies like Facebook and Google. +# 1. Hedge Funds are overstating their assets using shitcoin-to-dollar-justifications; they pumped crypto for collateral to hedge GME: + +&#x200B; + +# 2020-2022: + +[Thousands upon thousands of hedge-fund-orchestrated, and well-funded, ICOs \(Initial Coin Offering Pump and Dumps\)... all operated in the secrecy of darkness and anonymity \(SHF's bread and butter\). Every fund is now substantially over-levered. This collateral generation technique may have been the only way they 'survived another day' for so long - as they 'confidently' kept over-shorting GME and other innocent companies over the entire process using fake collateral for their short borrows. Unfortunately, the crypto industry will suffer because of this.](https://preview.redd.it/l0gf5g8j6gz91.png?width=1171&format=png&auto=webp&s=14af2e3132af158ab07c3ac4af8af13454a362a8) + +&#x200B; + +&#x200B; + +[Evidence of direct hedge](https://preview.redd.it/m4gspb44agz91.png?width=502&format=png&auto=webp&s=73c2dd697354981aed68c4bd384141f400784e7c) + +# Now: + +[After two years, the collateral correlation \(the crypto pump that was turned into a GME hedge\) is finally breaking down](https://preview.redd.it/0rw13mzk6gz91.png?width=659&format=png&auto=webp&s=0120bd76027f51b75fb9cb0ca8985a830e199cb7) + +&#x200B; + +&#x200B; + +# 2. What has now happened: + +&#x200B; + +# Let's Review + +[In this post relating crypto to GME](https://www.reddit.com/r/Superstonk/comments/yqxso7/crypto_and_gme_the_real_story/), I introduced that cryptoassets were pumped specifically to maintain growing margins in GME. I was egregiously bombarded by shills and trolls for this one. Outright harassed. + +# The Hedge-Fund-Driven CryptoAsset Pump of 2020 was needed to maintain shorts' margins because people were buying into GME because of DFV's investment and subsequent following + +In crypto's defense, it is slowly and thoroughly developing into the asset class of the future. Yet, it was the illicit, hedge-fund-driven **pump** of this fledgling asset class that bought the bad guys a few more days. I always wondered who was in the background funding these thousands of ICOs. All operating in the secrecy of *darkness and anonymity* (SHF's bread and butter) were mostly hedge-fund orchestrated ICOs and subsequent pump-and-dumps. Since the epic crypto pump in late 2020, in order to fight against the hit that GME took to their margins, short interest only grew. DRS then came online, making matters even worse for Citadel and co. + +Their trickery only held up for so long. The same is the story with the Chinese ticker IPOs that were pumped to half a trillion USD overnight. Those were underwritten by GME-short-selling funds. + +The corrupted, mass-media syndicate in this current market would *never* talk about this. I will: + +When the 2020 crypto pump started to wane over this 1 year period, hedge funds sought other forms of bailouts and loans. Citadel's bailout by Sequoia (Binance partner), Citadel's $600M loan in August, etc, etc, etc. + +As we just saw with [Alameda's leaked financials](https://www.coindesk.com/business/2022/11/02/divisions-in-sam-bankman-frieds-crypto-empire-blur-on-his-trading-titan-alamedas-balance-sheet/), Alameda was using levered positions (FTT token valuations in their case) *on their company's balance sheet.* Alameda was trying to say that the *current* cash equivalent was worth over $5.82 Billion, yet then they add up those totals *as if it actually is dollars. This is what SBF was referring to when he said* [he 'F---'d up.'](https://cointelegraph.com/news/sam-bankman-fried-apologizes-over-ftx-liquidity-crisis-i-fucked-up-twice) + +>*“The full story here is one I’m still fleshing out every detail of, but as a very high level, I fucked up twice. The first time, a poor internal labeling of bank-related accounts meant that I was substantially off on my sense of users’ margin. I thought it was way lower.” -Sam Bankman-Fried* + +Further, [Alameda and FTX were discovered](https://twitter.com/hellspawncrypto/status/1525575167027695616?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1525575167027695616%7Ctwgr%5E51b665616a3f65427c9908f6415de24eee0e8f92%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fwww.redditmedia.com%2Fmediaembed%2Fyte8jz%3Fresponsive%3Dtrueis_nightmode%3Dtrue) spoofing transactions to get around political campaign finance/donation laws by a cyber-security expert. Thus, Alameda and FTX, at the expense and welfare of crypto investors, stole peoples' funds to send those funds to election campaigns and other political affiliates, thereby giving one political party of their choice an unfair advantage. + +Right now, I can assign the value of this sticky note on my desk to be worth $5.82 Billion. If I try to justify that in my financials, I'd get caught. It does not take a qualified rocket surgeon to figure this out. It's no surprise, then, that there are [new possible criminal-level developments brewing](https://www.reuters.com/markets/currencies/exclusive-least-1-billion-client-funds-missing-failed-crypto-firm-ftx-sources-2022-11-12/?utm_source=reddit.com), revealing that the Alameda and FTX team has been moving funds. And, further, [some analysts are claiming](https://finance.yahoo.com/video/ftx-collapse-slow-motion-train-202852980.html) that "*the FTX collapse is slow-motion train wreck running into a dumpster fire full of black swans.*" + +Independently, who do we know, also steals customers' money (via PFOF) and overstates their financials? That's right: *Citadel Securities.* + +[As we are seeing in real-time](https://www.reuters.com/technology/hedge-fund-galois-capital-says-half-its-capital-stuck-ftx-exchange-ft-2022-11-12/), hedge funds indeed are holding THEIR CAPITAL (that they write on their financial statements) in scammy, centralized exchanges. The **Hedge fund** known as Galois Capital says half of its capital is **now stuck** on FTX exchange. This is just one of many. Let's take a look more at how Citadel, too, gets away with justifying these digital holdings as capital: + +&#x200B; + +&#x200B; + +# 🛑SHF are not just over-levered. This is more dire than that: Too like Alameda was, SHF - as evidenced by Galois (above) and Citadel (below) - are artificially inflating their financials by self-designating crypto valuations (and among the sea of 21,723+ new cryptos, 99% of them scammy pump-and-dumps in nature). Who do you think was in the background funding the thousands of ICOs? These people's balance sheets are proven to be stacks and stacks of self-designated pump-and-dump value, and then over-levered on top of that shit, and then to still be worth zero on paper, provided that? THIS IS HUGE. They're in the red by several orders of magnitude 🛑 + +&#x200B; + +# 3. "Finance is built on Trust." How about, "Finance is clearly built on Stacks of Horseshit": + +&#x200B; + +[\(It doesn't require a 'data leak' to see the stacks of horseshit here either\)](https://preview.redd.it/94njt78vgfz91.png?width=760&format=png&auto=webp&s=925d9a4c859fc3a11d0e6aeadae23f09d4823775) + +# Referencing: [Citadel Securities' Last SEC Filing: 2021 Financials](https://www.sec.gov/Archives/edgar/data/1146184/000128417022000004/CDRG_BS_Only_FS_2021.pdf) + +&#x200B; + +Assets - Liabilities = Equity (net worth). Citadel Securities', minus their client's current holdings, their net worth is **zero.** + +Yet the only equity Citadel Securities' had was its own clients' capital. This was BEFORE the market cataclysm of early 2022 hit their books. Let's take a look at where they stood before that happened. + +&#x200B; + +# Citadel's Financial Condition remains a going concern: + +&#x200B; + +[As of 31DEC2021, Citadel owed $4.2 Billion to its clients. Simply paying back its members at that time, on 31DEC2021, would have rendered Citadel as being worth $0.00. In a liquidation, $69 Billion of securities, many of them GME shares, would have to be purchased in order to balance the books. In 2022, these liabilities grew, resulting in them having to take yet another $600M loan this August.](https://preview.redd.it/yele5yq0wez91.png?width=1058&format=png&auto=webp&s=38639d8ab6d97a2851bdea5796172594b8e044b8) + +&#x200B; + +# Securities owned Includes Highly-Levered Crypto Deposits + +&#x200B; + +[Liquid amounts of what? Citadel states that its cash is defined only as anything that's 'liquid', and that it can be held anywhere. This definition was written this way to include cryptoassets in the definition, even of cash.](https://preview.redd.it/hpzygwxiufz91.png?width=699&format=png&auto=webp&s=0605beec764fb88ae997e286fd82c19a6d191f54) + +&#x200B; + +[Citadel states that it holds non-U.S. currencies, but does not rule out cryptocurrencies](https://preview.redd.it/milhy376ufz91.png?width=693&format=png&auto=webp&s=8e5d65bf36634ef21710d614b54a827af0cdac5f) + +&#x200B; + +&#x200B; + +https://preview.redd.it/y6guiafqvfz91.png?width=694&format=png&auto=webp&s=5cccc9f85f511f040e6c82ca8a220e94fd689fae + +[Therefore, Citadel states that it, like Alameda did, self-identified its 'fair value' of what it claims to hold without oversight. This means its entire balance sheet is fudged - every line, every row, every column. Was CZ dumping FTT tokens considered 'orderly'? Imagine a more macro market liquidity panic?](https://preview.redd.it/g7tjlea8ufz91.png?width=700&format=png&auto=webp&s=b481f0b50fabd2f322096c05d0490ff5ec07ce2c) + +&#x200B; + +And from notes on page 6: + +• **Trading assets, trading liabilities, options and warrants are included in securities owned or securities sold, not yet purchased**, as applicable, on the statement of financial condition. + +• **Futures, swaps and related collateral are included in receivable from brokers and dealers as discussed.** + +&#x200B; + +# Citadel is riddled in debt obligations, even to taxpayers: + +&#x200B; + +[Reverse repurchase \(RRP\) agreements are also known as collateralized loans. Overnight RRP agreements are being used here to lend short-term capital to Citadel Securities because they are experiencing cash flow issues, in this case, about $16 Billion worth of issues.](https://preview.redd.it/uki6mz98dfz91.png?width=528&format=png&auto=webp&s=9ac4e673a8319c7be37187b9f78edd83d4e7ec9a) + +&#x200B; + +# Citadel's Admission of Near-Term, Dire Risks: + +&#x200B; + +[Citadel is the primary focal point of credit risk in this market that is now beginning to delever itself, as seen by the Alameda\/FTX\/FTX.us bankruptcy](https://preview.redd.it/v55wvz7zofz91.png?width=691&format=png&auto=webp&s=55e2deef130bcce6120ece6fe590b6c691288434) + +&#x200B; + +[Citadel very well may become the Lehman Brothers of 2022: they have no equity.](https://preview.redd.it/t2p427zerfz91.png?width=689&format=png&auto=webp&s=58daf7c28e8e35a2590c5d1d4ce4504bf6241491) + +&#x200B; + +[Rehypothecation occurs when a lender uses an asset, supplied as collateral on a debt by a borrower, and applies its value to cover its own obligations. Margin pledged, and is documented as being held by third parties. Rehypothecation was a common practice until 2007, but hedge funds became much more wary about it in the wake of the Lehman Brothers collapse and subsequent credit crunch in 2008-09.](https://preview.redd.it/aa78ftqqpfz91.png?width=694&format=png&auto=webp&s=375a15067b9d49db3f1d00db6edd1df623b46d2b) + +&#x200B; + +[Citadel already admitted to facing off-balance sheet infinite risk](https://preview.redd.it/2pvdcco1wez91.png?width=870&format=png&auto=webp&s=54eb26ac766fa229cbdd7349e321a1af4b198957) + +&#x200B; + +# 4. Macro Market Technicals and GME Trends further decimating Citadel going into year-end accounting (imagine what their 2022 financial statement will look like?) + +&#x200B; + +[Technicals show that NASDAQ hit a brick wall, namely, the 200 week simple moving average. It is shown that NASDAQ rebounded substantially on a fudged CPI print \(the healthcare CPI is wrong\). Don't be fooled by this. Take a look at the 200 Week SMA rejection \(circled on the right\).](https://preview.redd.it/dq193sazvfz91.png?width=833&format=png&auto=webp&s=c62fd9c2cb1ea3eebf84ab2d85fc216be1693beb) + +&#x200B; + +[Just from this Wednesday to Friday, GameStop is up 19.23&#37;](https://preview.redd.it/wfdxezpkwfz91.png?width=676&format=png&auto=webp&s=ebaaed0df1bc4fc26a8463dae3e8c623edd37042) + +# + +&#x200B; + +# TLDR: + +**(numbers summarize each section above)** + +&#x200B; + +1. After two years, the collateral correlation (the crypto pump that was turned into a GME hedge) is finally breaking down, as shown. Not only does Galois Capital's (a hedge fund) capital being stuck with FTX evidence this, but it means that there is a simple way to explain this hedge: it's simply hedge funds' falsely inflating their financial statements that are then used as collateral justification to be able to keep borrowing to short GME. +2. SBF *"F'd up":* possibly criminally. The media alleges that he apparently moved billions in customers' funds away from FTX and/or to cold wallets. Their major error was that they self-designated their FTT cryptoasset as being equivalent to $5.82 Billion worth of fair U.S. Dollar-denominated value. Clearly they are not the same, but it could be an accounting flubb that everyone is making right now. GameStop leadership was wise to quickly wash their hands of their newfound-collaborative-efforts with FTX; and it is a great thing that this was caught before GameStop could be materially impacted. Although the future of the stock market is with the blockchain, FTX - as an irresponsible centralized exchange - quickly became a dead-end path. +3. Citadel Securities has also '*F'd up', yet ten times greater of a F' up:* Their value derivations are unclear, and to me, indicate they are doing the same thing that Alameda and Galois did by falsely driving up their asset rows with inflated, unverifiable numbers. All of these crooks' books are horse shit stacked upon horseshit. Citadel Securities is worth **Zero**. Thereby, Citadel Securities will likely be the 'Lehman' of 2022-2023. +4. Technicals show a last-ditch macro melt-up occurred today on a fudged CPI healthcare print. And, as the hedge-fund-orchestrated-pump of the fledgling crypto industry melts down, GameStop is already up 19.23% since Wednesday... + +&#x200B; + +**Edit to the TLDR - Power to the Thinkers - Six Possible scenarios** + +* *Don't let yourself become distracted by the noise. All of it is SHF's fault; it's all their problem.* Either way here, Hedge Funds are toast. +* *-****Scenario 1-****: Business Competition:* This sounds like a competitor maliciously tried to take out a competitor. All of this fraud does not ignore that FTT was targeted and dumped/liquidated quickly by Changpeng Zhao, perhaps with motive to destroy FTX. But why? Just looking at the aggressive media campaign against American Sam Bankman-Fried, somebody on the inside leaked Alameda's information to Changpeng Zhao who then had the 'spontaneous idea' to betray Sam Bankman-Fried and dump a billion FTT in one click? Was Sequoia a spy or another victim? +* *-****Scenario 2-****: Organic War:* If not crypto business competition, the attack against FTX seems so substantial that it could classify as a national-level financial attack (after all, it started on election day, and further, this does harm millions of Americans). Indeed, right now, FTX and Loopring are now being hacked. The billions inside of FTX has vanished: hedge funds collateral, possibly teachers' pensions, and now U.S. taxpayer dollars that was sent to the Ukraine Government who then routed it into FTX 'for NFT payments' instead of buying Military weapons are already blowing up. This sounds like military, financial, and cyber warfare, doesn't it? Could this also have been an act of financial terrorism or actual national warfare? You just can't make any of this corruption up. I know that China just gave the order to their Army to prepare for war, and that both presidents meet on monday in-person for the first time ever, to discuss the invasion of Taiwan, but my gosh. You would think this is the first chapter of a Tom Clancy novel about how World War III started. +* *-****Scenario 3-****: Banker-caused War:* If not a war started organically by a nation-state, could the banker class again be pinning two countries together, like they did with World Wars I and II?- starting another war for profit? Is world war in this case *an understandable cover* to try to hide what would have otherwise revealed that the long-term, string-pulling, dark-naked-short-selling-cabal had been caught by a bunch of free-thinking redditors? +* *-****Scenario 4-****: Ken Griffin:* \- It was already shown above that FTX and Alameda were caught by a cybersecurity expert violating election/campaign finance laws using crypto to hide/spoof lobbying transactions to their political party affiliation. This is a long-term indicator of criminal activity, because FTX and Alameda were stealing crypto users' funds just to send those funds to election campaigns and individuals of only one political party, thereby giving that party an unfair financial advantage. Could the short-and-distort attack against FTX, then, be Ken-Griffin-orchestrated?- against a political-mega-donating opponent and future-financial-exchange competitor (referencing the differences in party-affiliation between Sam Bankman-Fried and Ken Griffin, as well as Citadel's recent entry into the crypto space)? Is Ken Griffin behind this politically?- or did he independently want to destroy a future crypto-exchange competitor to try to obtain more power in the future of finance? +* *-****Scenario 5-****: Competitor Collusion:* If not all of the above, did Sam Bankman-Fried actually build the back-door to remove funds? And why did Sam Bankman-Fried call Changpeng Zhao on the phone- allowing his competitor, who just attacked him, to take over his company??? Did they collude together to do this and to launder billions? +* *-****Scenario 6-****: Financial Conspiracy:* Yet, further, is this another Mt. Gox-like financial conspiracy, where the current SEC Chairman's (*our head financial-market cop*) actual recent boss at MIT is the father of the daughter who is the CEO of Alameda and who had/is-having sexual relations with Sam Bankman-Fried? Are these four individuals, with personal ties, colluding to defraud millions of people of billions of dollars? +* Regardless of what is really going on here, hedge funds are toast. GameStop, and the rest of the stock market, needs a DEcentralized-automated exchange that is free from human error while also able to withstand attacks. +* *I don't have any problems. Based on sound investing principles, I just like to invest in quality companies that I like. Buy $GME. DRS. Hold for the long long term.* +We all know that around 80% of residential real estate purchases are financed. 30 year fixed interest rates have gone from about 3.5% to about 5.5% in about 5 months which is more than a 50% increase, and there is indication that rates will continue to rise later in the year. Since most buyers finance purchases, and they have X amount to pay for a home per month- this means that they'll likely be able to afford a significant lower purchase price soon. This should translate to falling real estate prices soon across the country. *IF* that happens, how would one maximize profiting from this fall in real estate values? +This is based on the other FAT Fire post where the poster earned 20M and is looking for tax strategies. I’m in a similar boat, albeit a bit less in the year income. Still looking to offset my 50% tax bill. + +Several responses mentioned starting a capital intensive business asap and writing off the loss to offset the income. Any ideas on this? Any firm examples of what others have done in this regard? +This is the official $GME Megathread for r/Superstonk. Please keep ALL conversations contained to Gamestop and related topics. + +**Not enough karma?** Here's a [**quick guide**](https://zapier.com/blog/how-to-get-karma-on-reddit/) on how to get it. + +# [announcements](https://www.reddit.com/r/Superstonk/wiki/index/announcements) + +* Make sure to check the Announcements regularly. 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So I’m a college student (I drink all the time) and whenever I get super wasted I end up buying WAY too much Bitcoin, more than I can afford. + +I get super cocky and confident when I’m drunk, and think about living on the edge and taking risks, and end up making huge purchases of bitcoin once I’m home. + +I used to buy little amounts of Bitcoin and gamble on roobet or sometning (no more than 50$) but I’ve already came back from 2 parties this month and have spent 3000$ each time on Bitcoin + +Didn’t even gamble it. One of the purchases I completely forgot I did so and had to do some investigation on why I received a ton of Bitcoin after a night of partying. + +Any tips on how to stop or what I should do + +Edit: thanks guys for the advice. I’ve decided to call my bank tommorow morning and black list my card from Binance. I have also deleted my account. +If you got into crypto any time after January of 2021, you're probably in the red now, or barely in any profit. And this probably came at you right after seeing your portfolio at five times its initial value or higher, making the loss sting quite a bit. + +I don't know what's going to happen. Maybe the 64k bitcoin price was the bull market top and we're entering a long bear market cycle. Maybe the 64k price was just an intermediate top and we're in the middle of a short-term correction before the crypto market moons. Maybe something completely different than either of those happens. + +A lot of people feel regret. They wish they'd sold when the market hit the 64k bitcoin top, and maybe re-bought when the market dipped down to a 30k bitcoin. But the thing is, hardly anybody was actually planning to sell at 64k. Some were holding out for 100k, some were just planning to eternally hold their crypto for the next 10 years or longer regardless of what happens. Hardly anybody really missed their chance to take profit, because hardly anybody was actually going to sell. + +Unless you believe that crypto is over and done with, going to zero, and never coming back, the play to make is to hold all of that crypto you might have "missed" the opportunity to sell at the 64k top, and to buy more crypto while the market is down, whether this is a real full-on bear market or whether this is some shorter term correction. + +Because really, we don't want the market to moon. Not yet. Not unless you're already sitting on top of a mountain of crypto you've bought. Yes, it's psychologically fun to look at big numbers on the computer screen and feel like we're making money, but unless you currently own enough crypto to sell at the next price pump and never work again, wishing for a million dollar bitcoin right now is pointless. You can't retire by selling 0.01 BTC when the bitcoin price hits a million. That doesn't even buy you a new Civic. + +If Bitcoin hits a million dollars before you have lots and lots of crypto, you will have missed the boat. Again. + +Unless you think that crypto is completely over and going to zero, a down market should be exciting. This is the chance you either didn't have or didn't take during the last bear market to accumulate a lot of crypto that you could have sold off for massive amounts of never-work-again money when bitcoin spiked to anything over 20k this time around. This is the time where, while it's not an exciting sure thing to DCA your little bit of money into crypto each week or month because things aren't mooning, you're actually getting more crypto for your money so that when things moon later, you're much, much richer. + +If you believe crypto is not completely over and going to zero, the prospect of a 20k bitcoin again should make you excited, not sick. You should find yourself hoping it goes down farther. Because this your chance to spend the next however long the market is going to give us accumulating crypto, so that when things moon, you'll have a lot more of it to sell. + +Maybe we won't have very long this time because it's a temporary downturn and not a long bear market. Maybe you can't retire at the next price spike and have to wait for the bull market cycle after that one. That's fine. Unless you believe crypto is over and going to zero, if you just keep your day job and keep accumulating until you're sitting on a mountain of crypto, then when the market moons the next time, you can sell it all for a whole lot of never-work-again money. + + +I know what you’re gonna say - “Not another post about memecoins!” + +And I don’t blame you. We’ve seen so many of these joke-coins coming and going that their credibility hit a historic low. Some have fizzled out just as fast as they exploded on the scene. Meanwhile, others became a certain billionaire’s favorite toy for destabilizing the market (\*cough\* Elon \*cough\*). + +However, some memecoins are actually developing into serious projects in this confusing meme paradise. Moreover, they offer some pretty appealing investment opportunities while the big-name assets struggle with the tedious crypto winter. + +That’s the case for Volt Inu (VOLT), a memecoin on the rise and following in the footsteps of another memecoin success story, Shiba Inu. + +What?? So, is VOLT mimicking Shiba, which in turn, was emulating Dogecoin? What is this - a copy of a copy of a copy? + +Well, not exactly. In fact, it’s quite far from that. VOLT is out to prove that memecoins will no longer be the butt of the joke. + +Volt Inu aims to be more than just your regular memecoin. It defines itself as a hyper-deflationary ecosystem incorporating a wide range of features. Furthermore, it only looks to replicate Shiba's successful steps, which, if you remember, took the dog-inspired coin all the way into the top 10 cryptos by market cap. + +Here are a couple of recent developments proving Volt Inu’s trajectory and that I’m not just talking crazy. + +In September, the coin was listed on two of the world's biggest crypto exchanges, Gate.io and Bittrex. These bold and successful moves broadened its horizons and increased its growing community. + +Now, if you have followed Shiba Inu since its launch in August 2020, you might remember that SHIB's price surged by 175X after being listed on Gate.io. Unsurprisingly, getting listed on platforms where all the cool kids hang out will do that to a coin, even if it’s just a newcomer. + +How did that work for Volt Inu? + +Well, a couple of days after the announcement of VOLT joining the Gate.io family, its skyrocketed from $0.0000006247 to $0.000001352. + +I know. It’s not exactly the most mind-blowing value boost, but it’s something. And, while it’s still too early to tell how quickly VOLT will replicate SHIB’s success, it’s a promising sign for the go-getting Volt Inu. + + + +Just look at the chart below comparing VOLT to ETH! VOLT migrated to its current version (V2) in April and has had a boom in value every time a significant event marked its development. In fact, unlike so many short term plays, VOLT kept printing higher lows against ETH since April. While looking at this chart, one also has to keep in mind that these 7 months were one of the most bearish period in crypto in years! Yet, VOLT kept growing and heading towards what is looking more and more like a big squeeze once the market finally lets the real volted run happen! + + + +And yes, I know its price came back down a few times. However, this seesawing movement is not concerning at all. Most crypto assets wobble between highs and lows depending on a variety of factors. What we can see here is that VOLT always bounces off the ascending trend line and once again seems to be starting one of those massive runs we have seen in the past. When you think about what happened to SHIB after those months of consolidation, it's only a matter of time until we see VOLT break out of this range and run in an unprecedented way! + +After Gate.io and Bittrex, Volt Inu seems to have set its sights on the world's biggest crypto exchanges, Crypto.com, Binance, Coinbase, and KuCoin. The project and the whole community is looking to obtain listings on these popular platforms soon and earn all the benefits that come with them. + +For example, when a coin joins a major exchange, it gains exposure to a much larger audience. More people become aware of it, adopt it, and boost its value. As more investors buy and sell the token, its liquidity increases, too, benefitting everyone involved. + +Getting listed on Gate.io and Bittrex is enough to confirm Volt Inu's credibility. However, once it enters these other major exchanges, this token will finally join all these other multi-billion dollar projects. It will almost automatically gain the necessary legitimacy to follow in Dogecoin and Shiba Inu’s footsteps. + + Lastly, crypto exchanges are the go-to platforms for assistance and information, especially for up-and-coming coins. As it adds more of these platforms under its belt, Volt Inu should increase its arsenal of support tools for new and expert investors alike + + + +### Make way for the VOLTARMY + +VOLT and SHIB have a lot in common. For instance, Volt Inu has a growing community similarly loyal and ambitious to the SHIB army, which has taken the dog-inspired memecoin to the heights of the crypto industry. Its moniker is VOLTARMY, far from a surprising choice of name, but with an effective call-to-action vibe nonetheless. + +The VOLTARMY eagerly supports the project and, in return, enjoys Volt Inu's ongoing string of features. One of them is the much-anticipated decentralized exchange, "VOLTICHANGE," whose release is just around the corner. + +This new feature will enable Volt Inu users to reach any crypto project by offering them a tool (automated burns) that so many projects are looking for nowadays. Moreover, VOLTICHANGE will never have any listing fee or listing requirement thus making it even more accessible and appealing. Its system will be multi-chain and rely on several blockchains like you'd expect from any modern swap system. + +All the features described above have one common purpose which is to generate VOLUME! As VOLTICHANGE is designed to automatically burn and reduce the VOLT’s supply with the revenue generated from this exchange, all the above steps seem to be adding up to the impending squeeze to come. + +### From a meme to a worldwide presence + +I chose a title that hints towards Volt Inu’s soonish world domination. Now, I know how that may sound a bit excessive right now. After all, getting listed on established exchanges is not a unique or rare feat. New projects aim and often succeed without bragging too much about it. + +Still, let me tell you why I’m not just sucking up to this memecoin. The data above and the coin’s development so far point towards its cementing position in the crypto world. Also, they show that emulating a successful project like Shiba Inu is possible if done right. + +Moreover, Volt Inu goes beyond the cryptosphere to make a name for itself in **the actual world**. + +Recently, the Volt Inu team has invested in a hefty physical marketing campaign in the United States. This resulted in promotional billboards popping up across the country, where they will stay for months. As a result, more people will become aware of the project and its goals, even if they're not as connected to the crypto world as us. + +The VOLT billboards came up shortly after the project built brand awareness as a sponsor of the Chainlink SmartCon event in New York City. However, you can find out about Volt Inu even if you didn't attend it. In fact, you may become aware of VOLT even if you don't look at advertising billboards. + + + +That’s because Uber Eats and Doordash are spreading the word about VOLT to their clients. The project teamed up with these popular delivery services to get its name across to those with an appetite for food and a taste for promising crypto projects. + +Volt Inu is expanding its brand-building actions beyond US borders too. The team funds multiple marketing campaigns in Columbia, Mexico, Turkey, and Peru to educate thousands of people about cryptocurrencies and Volt Inu. In Argentina, VOLT became a sponsor of one of the biggest football clubs, Defensa y Justicia. Lastly, UFC stars Gilbert Burns, Brendan Allen, Ian Heinisch, Big Cat, Derek Brunson, and Joselyne Edwards are also some of the well-known ambassadors for the project. + +So yeah, I guess I wasn’t overplaying it when I said Volt Inu is looking to take over the world. +It's no secret that it's extremely easy to lose money when it comes to investing. By thinking you're smarter than the average bear and doing things like: + +* try to pick individual stocks that don't beat S&P when it comes to drawdown/return other than say... some of the best tech stocks of the past 10-20 years + +* introducing leverage/margin into a buy and hold strategy + +* trying to time the market/do things like investing in an ETF that shorts the market when you 'think' it's going down + +* trying to trade options/buy calls/puts and hope that you get the timing right and sell the increase in premium/IV but instead get caught in the wrong trade and have them expire worthless/near worthless on you + +* trying to trade things like commodities/forex + +* trying to trade things like futures (which move $50 for 1 SPX point directionally on /ES) + +* trying to draw trend lines/support/resistance/thinking you can accurately predict price movement based on patterns/history/wedges/candlestick patterns + +* use one of thousands of indicators like RSI/MACD/Bollinger Bands to try and suggest good entry/exit prices + +* try to make money by investing in currencies/crypto/random countries + +https://www.google.com/search?q=stock+market+quant+jobs + +There's obviously at least some market for "Quantitative Algorithmic Trading Jobs" + +I'm just curious, how much of this is publicly accessible? There's SPY and IVV and VOO and VTI. People eat those up and love them. + +Why wouldn't people love access to an ETF that supposedly beats buy and hold through technical analysis/quantitive analysis/anything? A company offering that could potentially rake in lots of money. If the answer is "very few of them beat buy and hold", why is the industry as big as it is? If you google "does technical analysis actually work", https://www.google.com/search?q=does+technical+analysis+really+work you get a ton of articles saying... yes it does. This is contrary to what I would have thought. + +I've done a bit of light skimming on research papers related to computer programming algorithmic reinforcement training, and... it's almost 50-50. 50% of them say "no correlation was found, what we developed underperformed, stock market price movement is basically random noise" and the other 50% said "yep, totally possible, we beat buy and hold". + +What's the truth? I'm not looking to hear "1 in 10 people can successfully do TA/be a day trader/beat buy and hold". I want to hear... why isn't it agreed upon that *0* out of 10 average people can beat buy and hold? and if quant funds can beat buy and hold... where are they? are they really "so secret" that only people with millions can access them? My friend has $100m-$200m, he put some into something claiming to be a quant fund, it's down 30% this year... +Hi, r/finance + +This is my first post here. I posted here because I recently took up interest in the art of investing and there is no sub-reedit more qualified to answer my questions about investing. + +The second topic i have to research on is Company/Stock valuation. + +What books do you recommend to start off with? There's a lot of books out there about this topic. My guess is i would choose the wrong book, get the wrong ideas and ultimately carry the wrong knowledge for years without even knowing it. + + +So, What books do you recommend I read in regards to Stock Valuation? + + +Thanks. Expecting your insightful comments. +It's been a while since I updated this. I've noticed a surge of great web resources for algotrading out there, hard to keep up to make sure resources are not duplicated. But for those who want a simple download of the historical stock data (daily res) of stocks on NASDAQ, NYSE, and AMEX, this might be what you are looking for: + +[https://www.kaggle.com/qks1lver/amex-nyse-nasdaq-stock-histories](https://www.kaggle.com/qks1lver/amex-nyse-nasdaq-stock-histories) + +Also, I added a 60-day concatenated file for analyzing trends over the past 60 days. + +Also, here are the codes to pull and compile all this data: + +[https://github.com/qks1lver/redtide](https://github.com/qks1lver/redtide) + +Happy mining! +Hi, I’m an aspiring algotrader! Some background, I’m a college student so I don’t have much money to spare, I was wondering what are some good API/software/ platforms to begin coding a trading bit for free/cheap. Thanks! +Hi there, + +I have proof if the mods/admins need it. + +I am paralyzed from the chest down due to a serious accident that I was in. I'm now a "quadriplegic" which means I have compromised hand/arm/tricep control .... and completely paralyzed from waist down. + +My life is really difficult. I've lost my friends and my girlfriend. I am desperately trying to reintegrate into society and be like anyone else. + +One positive thing out of all this is that after a lot of fighting I won a settlement of 8000$/month for as long as I remain alive. Going up about 1% per year. + +It costs me 2500$/month to survive (shelter, food, medications) + +which leaves me a significant ammount that I ought to have a good plan for. + +instead, I've just been wasting it on hookers, drugs, giving it away to people who use me for my money, and literally just pissing money away. + +My excuse was "well, I'm fucking paralyzed now. I can do whatever I want" and that logic paved the way for me to justify a lot of horrible horrible things. + +Now. I want to stop. I don't want to numb myself with drugs, booze, hookers, false-friends, bullshit. + +I want to save up so that someday I may buy my own home or condo. + +I also want to save up so that I can be in a position to donate to charities and help others. + +I also want to save up so that someday I can finance my own film and produce it. + +I just have zero idea with what I am doing with my life and my money. + +Id appreciate some advice as to what you guys would do with this money and how to best make it go as far as possible. + +thank you for taking the time to read this and I look forward to the replies. + + + + + + +**edit** Thursday/11pm: Wow. Holy shit. I posted this in the morning and went about my day and really didn't think anyone would read it. My inbox has exploded and I have over 400 messages to read in this thread. I will do my best to reply to as many as I can before I have to take a break and go get a little high. + + +<< **Edit #2** >> +-- Wow. It's amazing I got over 600 inbox messages and 80% of them involved people asking me for money. From paying off their student loans to many "startups" and "apps" that need "angel investors" -- geez, this isn't the sharktank! I was asking advice for my life. + +<<**Edit #3** >> +-- I didn't mention it to begin with... but I've managed to get myself in 50,000$ of debt. My efforts will go to paying that off ASAP and then I can commence savings. + +<< **Edit #4** >> +-- I very much agree that my MENTAL HEALTH is the best investment I can make. I am going to seek help so I can stop using drugs and vices to feel something. + +<< **Edit #5** >> +-- I just turned 29 today. March 6'th. + +<< **Edit #6** >> +-- I want to make a horror picture. I think I can write/direct the shit out of a horror movie someday. +**typo fix:** I want to publicly apologize ~~against~~ to Barry Silbert + +---------------- + +Hello, this is Nooku. + +I have done something terrible. I have insulted Barry Silbert yesterday through our EthTrader community. + +And I got a reprimand from the moderation team. Rightfully so. + +The /r/EthTrader moderators have rightfully warned me about my behaviour and I hereby want to publicly apologize to both the Moderation team as Barry Silbert. + +Barry, I realize that wat you have done for our Ethereum community by supporting the Ethereum Classic fork should be a reason for respect, and **not** for insult. + +To Bitcoin moderator /u/thieflar , the person I had the debate with, I also must apologize. You were pointing out to us that we supposedly have rolled back the chain in 2016. + +Although I still strongly disagree, I deeply apologize for not going in debate with you but resort to calling you a really big and close friend of Barry Silbert (with again, a not-so-nice synonym). That's not how I should have been argumenting against you. I see that now. + +Barry, + +I have wrongfully insulted you by calling you (synonym for "useful idiot"). This was a mistake. I deeply regret this now and I hope you can find a way to forgive me. + +To the /r/ethtrader community, I also want to apologize. I failed you. As a long-term user and administrator of another Ethereum subreddit here ( /r/ethdev ) I should have known better and be more civil. + +Please accept my apologies and I hope to become a better person now through all of this. + +I also want to reach out to Barry Silbert and the entire EthereumClassic community to have a more civil and constructive discussion about the future of Ethereum and recognize your love for the tech. + +My deepest and humblest apologies, + +Nooku +I don't want to write a Bible here, just to share my story. + +Grew up without a father, only my mother and sister. My mom was a tailor, earning 350-400$ per month. We literally made ends meet every month. I come from eastern Europe + +She managed to put us through college. 15 years ago (2006/2007) I started learning web development. Earned like $1000 each year (I was a high school kid back then). From that point my life kept improving, I invested a lot in my development skills. I was coding all the time, spent hours coding and failing. + +Kids called me a geek or nerd, always being around technology. + +What kept me going and helped me to get experience is working on plenty of side projects. I even sold some of them for a smaller amount of money, and reinvested into another. Currently working on a new idea called "[Would You Do It For A Dollar?](https://wouldyoudoitforadollar.com/)" + +After college, I keep getting higher paying jobs. Now I earn above average in my country. I made it through any debts or mortgages. It's not overnight, those were 15 years of f\*cking struggle, investing and always living on a bare minimum. +&#x200B; + +[Design a graphic that could become an award on r\/Superstonk!](https://preview.redd.it/gg7dtiq1bn571.png?width=1000&format=png&auto=webp&s=263e0c7085f2633c6639072a58a9f190738aee76) + +# What are Community Awards? + +Regular "awards" are purchased with **Coins**, a mechanism of Reddit that ultimately requires real money to purchase packs of coins that can then be spent on awards for posts and comments. r/Superstonk does not receive any money when they are purchased, but it does receive Coins when users gift Community Awards. + +>Community Awards are unique to each community, and members can give them to each other. Moderators can design and name the Awards however they want. +> +>A portion of Coins from Community Award purchases will be deposited to the community’s Coin balance. Moderators can use Coins from that balance to reward members with Mod Awards. The Coin balance is shown only to moderators in the community’s sidebar. + +Moderators do NOT have access to the r/Superstonk coin bank other than to give Community Awards on this sub to quality posts and comments. Moderators do NOT receive any coins personally, and only certain mods with permissions can access the coin bank for this purpose. + +**Community Award:** Any user can gift this award for an amount of Coins (min. 500) to a post or comment. Each of these awards will also gift Coins to r/Superstonk itself, allowing mods to give mod-exclusive awards. For example, a 500 Coin Community Award also gives the subreddit 100 Coins. + +**Mod-Exclusive Community Award:** These awards are purchased using the Coins available only to mods from the r/Superstonk Coin bank, and give a certain amount of Reddit Premium to the recipient. For example, a 1800 Coin Mod-Exclusive Community Award will grant one month of Reddit Premium. + +*Reddit Premium gives 700 monthly coins, access to Premium Awards, and more. Learn about it here:* [*https://www.reddit.com/premium*](https://www.reddit.com/premium) + +Currently, we have two Community Awards: the **Superstonk Award** (500 Coins, giftable by members), and the **Not-A-Cat Golden Bananya Award** (1800 Coins, giftable by mods only). + +&#x200B; + +[Ape Not Fight Ape, unless for top prize!](https://preview.redd.it/m0rf02586n571.png?width=1000&format=png&auto=webp&s=f85cac4f9c934d29c58fd4799f9bbe98d144c04f) + +# Award Contest + +We ask you, r/Superstonk members and lurkers, to use your best design skills to create award icons that we can then place into the Community Awards. You will need to think of a great name, too, but note we must keep it (mostly) family friendly. We are limiting to one design/name per submission, so make it good! + +**The top eight designs will be made into the following awards:** + +* **5th-8th:** Community Award (cost: 500 Coins, 100 to r/Superstonk) +* **4th:** Community Award (cost: 1000 Coins, 200 to r/Superstonk) +* **3rd:** Community Award (cost: 2000 Coins, 400 to r/Superstonk) +* **2nd:** Mod-Exclusive Award for 1-month Premium (mod cost: 1800 Coins) +* **1st:** Mod-Exclusive Award for 3-month Premium (mod cost: 5400 Coins) + +Additionally, **1st and 2nd place will receive FOUR of the new 3-month Premium mod-exclusive awards** on their top posts and/or comments, **3rd and 4th place will receive ONE of the new 3-month Premium mod-exclusive award**, and **5th, 6th, 7th, and 8th place will each receive ONE of the new 1-month Premium mod-exclusive award**. This will effectively win you Coins and Premium membership, as well as serious clout from designing an official sub award. + +To submit, please follow the guidelines below. + +&#x200B; + +[Welcome to the Jungle](https://preview.redd.it/thzj5yn96n571.png?width=1000&format=png&auto=webp&s=b80eb00cf76d20f6c7b106ad3a3167968d29d61f) + +# Submissions must adhere to the following: + +* Image file attached to email with these attributes: + * **Design Image**: PNG with alpha layer (or) animated GIF with alpha layer + * If a gif, we cannot guarantee it will work in our bracket system (will try) + * Must be square crop (1:1 ratio) + * Width and height should be equal, and at least 512px + * File size limited to 2MB +* **Name of Award** (Appropriate Titles Only; otherwise we will change it) +* **Username of Artist** (must have history on r/Superstonk without Ban) +* One submission per user +* Rules must be followed; NSFW or improper designs/titles will be disqualified +* **Designs must be original content**, or created by submitter; no copying from Google Images or stealing others' work +* (optional) **Include a hyperlink to the image** as backup (i.e. Imgur) + +# PLEASE FOLLOW THESE 👆 REQUIREMENTS OR YOUR SUBMISSION WILL BE REJECTED. + +# 💎 Send submissions to [superstonk\_mods@protonmail.com](mailto:superstonk_mods@protonmail.com) + +*We will not accept awards tagged in posts, sent by Message or Chat, or over Discord. We encourage you to* ***create a separate email*** *if you want to remain anonymous, but we will not release any details regarding the submissions process, other than the username provided during submission.* + +# 💎 DEADLINE - Sunday, June 20 @ 4:00 p.m. EST or 120 total submissions received + +Timezone Deadlines: 1:00 p.m. PST / 2:00 p.m. CST / 4:00 p.m. EST / 10:00 p.m. UTC / 6:00 a.m. AEST + +We reserve the right to deny any images that do not meet these requirements. The contest will remain open until we receive 120 entries or until the deadline; whichever comes first. If you are late with submission, or if the contest closes due to the limit, you will sadly not be included. The early ape gets the banana! + +*By submitting your design to this contest, you are agreed to allow the subreddit* r/Superstonk *to use it for a Community Award image, without end date, and the design will remain a part of* r/Superstonk *in this context indefinitely. The subreddit will not claim any copyright over the designs submitted, or use them for any other purpose.* + +&#x200B; + +[#apestogetherstrong](https://preview.redd.it/5zzz56pd6n571.png?width=1000&format=png&auto=webp&s=600d10aae8c97ab499231ce9a3ab05c8e21ec905) + +# TLDR: Make some awesome designs and send them in. The first 120 submissions will be included in the contest, if submitted by the deadline, and the top eight will win mod-exclusive awards (Reddit Premium) and have their designs featured as official r/Superstonk awards. + +Thank you again for participating in the contest and good luck, apes! +>Senate Banking Committee, couldn’t help but remark on it a few weeks later, when questioning Christopher Cox, the then-chief of the Securities and Exchange Commission. “I would hope that you’re looking at this,” Dodd said. “This kind of spike must have triggered some sort of bells and whistles at the SEC. This goes beyond rumors.” + +... + +>“I’ve seen the SEC send agents overseas in a simple insider-trading case to investigate profits of maybe $2,000,” says Brent Baker, a former senior counsel for the commission. “But they did nothing to stop this.” + +... + +>According to the former head of Bear’s mortgage business, Tom Marano, the rumors within Bear itself that week centered around Citadel and Goldman. Both firms were later subpoenaed by the SEC as part of its investigation into market manipulation — and the CEOs of Both Bear and Lehman were so suspicious that they reportedly contacted Blankfein to ask whether his firm was involved in the scam. + +... + +>Asked to rate how obvious a case of naked short-selling Bear is, on a scale of one to 10, former SEC counsel Brent Baker doesn’t hesitate. “Easily a 10,” he says. + +... + +>“This isn’t a trail of bread crumbs,” former SEC enforcement director Irving Pollack has pointed out. “This audit trail is lit up like an airport runway. You can see it a mile off. Subpoena e-mails. Find out who spread false rumors and also shorted the stock, and you’ve got your manipulators.” + +... + +>It would be an easy matter for the SEC to determine who killed Bear and Lehman, if it wanted to — all it has to do is look at the trading data maintained by the stock exchanges. But 18 months after the widespread market manipulation, the federal government’s cop on the financial beat has barely lifted a finger to solve the two biggest murders in Wall Street history. The SEC refuses to comment on what, if anything, it is doing to identify the wrongdoers, saying only that “investigations related to the financial crisis are a priority.” + +https://www.rollingstone.com/feature/wall-streets-naked-swindle-194908/ + + +[This is the official $GME Megathread for r\/Superstonk.](https://preview.redd.it/gzy9yfftoov71.png?width=778&format=png&auto=webp&s=7ce125aa2d7455f994d74a4192f1a04b7d14448c) + +**Please keep ALL conversations contained to Gamestop and directly related topics.** + +\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ + +# Brand new to the sub? Start here! + +***You must read the*** [***Superstonk Rules***](https://www.reddit.com/r/Superstonk/wiki/index/rules) ***before commenting or posting on*** [***r/Superstonk***](https://www.reddit.com/r/Superstonk/)*.* + +https://preview.redd.it/u7nzd0m0pov71.png?width=1651&format=png&auto=webp&s=df5232178c4035ba1c069f9306b30453b42946cd + +The extremely talented and dedicated [u/zedinstead](https://www.reddit.com/u/zedinstead/) has created this beautiful collection of the most important, groundbreaking **D**ue **D**iligence in PDF format that can be easily accessed and shared. If you're looking to familiarize yourself with the GME bull thesis or the underhanded tactics of the short sellers involved in this trade-- then this is for you: + +# [GME.fyi](https://fliphtml5.com/bookcase/kosyg) + +[r/Superstonk](https://www.reddit.com/r/Superstonk/) employs strict posting requirements to ensure our community stays moderately free from trolls and other such bad actors. As such you may find you have trouble posting if you haven't fully read and understood our rules. + +**Posts keep getting removed?** [Find out why.](https://www.reddit.com/r/Superstonk/wiki/index/rules) + +**Not enough** [**karma**](https://www.reddithelp.com/hc/en-us/articles/204511829-What-is-karma-)**?** Here's a [quick guide](https://zapier.com/blog/how-to-get-karma-on-reddit/) on how to get it. + +**Want to learn more?** [Check out our extensive Wiki](https://www.reddit.com/r/Superstonk/wiki/index) and [FAQ](https://www.reddit.com/r/Superstonk/wiki/index/faq) + +**Eager for more even more GameStop info?** [gmedd.com](https://gmedd.com/) is a spectacular resource. + +\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ + +# Flair Links + +[📚 Due Diligence](https://old.reddit.com/r/Superstonk/search?q=flair%3A%22%F0%9F%93%9A+Due+Diligence%22&restrict_sr=on&include_over_18=on&sort=relevance&t=all) | [📚 Possible DD](https://old.reddit.com/r/Superstonk/search?q=flair%3A%22%F0%9F%93%9A+Possible+DD%22&restrict_sr=on&include_over_18=on&sort=relevance&t=all) | [💡 Education](https://old.reddit.com/r/Superstonk/search?q=flair%3A%22%F0%9F%92%A1+Education%22&restrict_sr=on&include_over_18=on&sort=relevance&t=all) |[📈 Technical Analysis](https://old.reddit.com/r/Superstonk/search?q=flair%3A%22%F0%9F%93%88+Technical+Analysis%22&restrict_sr=on&include_over_18=on) | [🗣 Discussion / Question](https://old.reddit.com/r/Superstonk/search?q=flair%3A%22%F0%9F%97%A3+Discussion+%2F+Question%22&restrict_sr=on&include_over_18=on) | [🤔 Speculation / Opinion](https://old.reddit.com/r/Superstonk/search?q=flair%3A%22%F0%9F%A4%94+Speculation+%2F+Opinion%22&restrict_sr=on&include_over_18=on&sort=relevance&t=all) | [💻 Computershare](https://old.reddit.com/r/Superstonk/search?q=flair%3A%22%F0%9F%92%BB+Computershare%22&restrict_sr=on&include_over_18=on&sort=relevance&t=all) | [📰 News](https://old.reddit.com/r/Superstonk/search?q=flair%3A%22%F0%9F%93%B0+News%22&restrict_sr=on&include_over_18=on&sort=relevance&t=all) | [🤡 Meme](https://old.reddit.com/r/Superstonk/search?q=flair%3A%22%F0%9F%A4%A1+Meme%22&restrict_sr=on&include_over_18=on&sort=relevance&t=all) | [👽 Shitpost](https://old.reddit.com/r/Superstonk/search?q=flair%3A%22%F0%9F%91%BD+Shitpost%22&restrict_sr=on&include_over_18=on&sort=relevance&t=all) | [📳 Social Media](https://old.reddit.com/r/Superstonk/search?q=flair%3A%22%F0%9F%93%B3Social+Media%22&restrict_sr=on&include_over_18=on&sort=relevance&t=all) | [☁ Hype fluff](https://old.reddit.com/r/Superstonk/search?q=flair%3A%22%E2%98%81+Hype%2F+Fluff%22&restrict_sr=on&include_over_18=on&sort=relevance&t=all) | [HODL 💎🙌](https://old.reddit.com/r/Superstonk/search?q=flair%3A%22HODL+%F0%9F%92%8E%F0%9F%99%8C%22&restrict_sr=on&include_over_18=on&sort=relevance&t=all) + +You can also find the main flairs in the sidebar on New Reddit and under the "About" page on mobile. + +**Mod Flairs** + +[📣 Community Post](https://old.reddit.com/r/Superstonk/search/?q=flair%3A%22%F0%9F%93%A3+Community+Post%22&include_over_18=on&restrict_sr=on&t=all&sort=relevance) | [📆 Daily Discussion](https://old.reddit.com/r/Superstonk/search?q=flair%3A%22%F0%9F%93%86+Daily+Discussion%22&restrict_sr=on&include_over_18=on&sort=relevance&t=all) | [🏆 AMA](https://old.reddit.com/r/Superstonk/search?q=flair%3A%22%F0%9F%8F%86+AMA%22&restrict_sr=on&include_over_18=on&sort=relevance&t=all) | [🚨 Debunked](https://old.reddit.com/r/Superstonk/search?q=flair%3A%22%F0%9F%9A%A8+Debunked%22&restrict_sr=on&include_over_18=on&sort=relevance&t=all) | [📖 Partial Debunk](https://old.reddit.com/r/Superstonk/search?q=flair%3A%22%F0%9F%93%96+Partial+Debunk%22&restrict_sr=on&include_over_18=on) | [🔔 Inconclusive](https://old.reddit.com/r/Superstonk/search?q=flair%3A%22%F0%9F%94%94+Inconclusive%22&restrict_sr=on&include_over_18=on&sort=relevance&t=all) | [⌚ Pending Review](https://old.reddit.com/r/Superstonk/search?q=flair%3A%22%E2%8C%9A+Pending+Review%22&restrict_sr=on&include_over_18=on&sort=relevance&t=all) | [🥴 Misleading Title](https://old.reddit.com/r/Superstonk/search?q=flair%3A%22%F0%9F%A5%B4+Misleading+Title%22) + +**No CS/DRS Mode** + +[New Reddit Filter](https://www.reddit.com/r/Superstonk/search/?q=-flair_text%3A%22%F0%9F%92%BB%20Computershare%22&restrict_sr=1&sr_nsfw=) | [Old Reddit/Mobile Filter](https://old.reddit.com/r/Superstonk/search/?q=-flair_text%3A%22%F0%9F%92%BB%20Computershare%22&restrict_sr=1&sr_nsfw=) + +To filter out CS/DRS posts, click the links above or type `-flair_text:"💻 Computershare"` into the search bar. + +\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ + +***What's This Post All About?*** + +The first thing you'll notice is a stickied comment right at the top. We call this the "Front Desk". Every day a moderator will create a new sticky comment that includes links to community announcements, fantastic posts that deserve more attention, and generally the simplest and easiest way to interact with the moderators of this community. The rest of the post is designed for general discussion and content/questions that might not need their own post. + +If you are new please mention that when you comment. There are no stupid questions but "shills" (paid accounts with the intent to disrupt the sub) are real. This community sees a lot of trolls. If you do not distinguish yourself as someone with genuine questions it is likely that members of our community will assume you are just spreading "FUD" (Fear, Uncertainty, and Doubt). I hate that I have to give you this warning but it is just the nature of the beast at this point. + +Please have fun, play nice and be civil. Many of our rules are heavily enforced. Debate is welcome but if it devolves into personal insults please report the comment. *Ape no fight ape!* +[**GameStop Wallet Support**](https://support.blockchain.gamestop.com/hc/en-us/sections/4412111751955-Getting-Started) + +# 🟣 [Computershare Megathread](https://redd.it/vp01of) + +>Wondering what DRS is? Want to know how and why people are Direct Registering their shares? Here you'll find our guide and additional resources, as well as a welcoming community answering questions in the comments! + +# 🏴‍☠️ [NFT Marketplace & Wallet Megathread](https://www.reddit.com/r/Superstonk/comments/vluysg/gamestop_nft_marketplace_wallet_megathread/) + +>Why is GameStop getting into NFTs? *WTF* even is an NFT? How do I set up a GameStop Wallet? How do I get a cool/custom wallet address? All these questions and more are answered here! + +# 🙋 ​[What's GME & should I consider investing?](https://www.reddit.com/r/Superstonk/comments/qig65g/welcome_rall_looking_to_catch_up_on_the_gme_saga/) + +# 📚 Library of Due Diligence [GME.fyi](https://fliphtml5.com/bookcase/kosyg) + +>A collection of over 200 of the most important, groundbreaking **D**ue **D**iligence. If your looking to familiarize yourself with the GME bull thesis or the underhanded tactics of the short sellers involved in this trade– then this is for you + +**Read** [**the Rules & Wiki**](https://www.reddit.com/r/Superstonk/wiki/index) **||** [**MOASS FAQ**](https://www.reddit.com/r/Superstonk/wiki/index/faq) **|| Join our** [**Discord**](https://discord.gg/Superstonk) + +Low karma? Want to feed DRSbot? [Post on r/GMEOrphans](https://www.reddit.com/r/GMEOrphans/comments/qlvour/welcome_to_gmeorphans_read_this_post/) + +How to [Filter by Flair & Search](https://www.reddit.com/r/Superstonk/comments/v0oxp2/how_to_filter_by_flair_search_for_posts_on/) on Superstonk + +Tag u/Superstonk-Flairy for help with user flairs, find [custom emoji options here](https://www.reddit.com/r/Superstonk/comments/v89p0h/new_superstonk_user_flair_emojis_how_to_edit_your/) +I'm not trying to speculate as to what rates will do. Just curious who has thought about and/or budgeted for this? I've fixed my interest rate until the end of next year but am in the process of setting a future budget to account for at least 5% (even if it doesn't happen). +Bit of a happy rant here. + +Thanks to the advice in this thread a few months ago. I just closed off my HECS by making a final voluntary payment before indexation ~~(1st May)~~ (1st June) + +It feels good to pay back the Tax payer, I feel humbled for the opportunity to take such a substantial debt and the trust placed within me to pay it back once I start earning a decent salary. + +It's been a long 5 years with seeing that extra bit taken out of my pay. Now I can relax, 100% Debt free! Next step FI! + +Edit: date + +Edit2: Thanks for all the congrats guys =3 +So after the initial ridiculous pump of NEGG I sold two Call Credit Spreads 20/25 7/16... After the blast off this week, I had just intended to wait until next Thursday to see what happens and buy back the spreads at a loss.. So be it.. But I got assigned on one of the calls this am.. Not sure why someone would choose to exercise but now my situation looks like: + +&#x200B; + +https://preview.redd.it/g4t80u0x1z971.png?width=1091&format=png&auto=webp&s=40efc891b321416ed7a2ac581cf58fe6d2b4368a + +&#x200B; + +What do I do now? + +Or rather what should I do at 9:30 am... I don't particularly want to be short shares on newegg although I think it will plummet. + +Thinking about just closing my other spread today just to be done with this headache.. +When I had to choose between having bus fare and getting some bread to eat after a long day of job hunting. Also decided to quit all forms of social media (except reddit) because I am tired of trying to be positive while everyone is sharing pics of warm, home cooked meals, presents, holidays. + +So sorry to be a bummer, I am just so tired and I know you guys would understand. + +Whoever is having a tough day, here is a huge hug, from one struggling soul to another. +This is it guys, the end game... again. + +With more and more apes DRSing, liquidity inside the well dries up more and more every day and hedgies digging their death spiral by shorting it more to the ground. + +Now with the upcoming announcement (probably EOY/Q1 2022), we will see gme rise up again like a phoenix, reborn from the ashes. + +This is it!, the day of the "Fake Squeeze". + +MSM will announce that GME reaches $1000+ and saying everywhere that the "Squeeze is over" in hope of apes to sell. + +Think fucking again about swing trading this shit. +___________ + +**What if there is no Drop?** + +________________ + +Remember back in January?, Even already at the price of $500 they stoped the fucking buy button and this is when they digged their grave to their doom. + +This **Won't happen here** + +They know their already doomed, with the massive retail fomo and people buying even in the 1-10k range, no way in hell the price will drop again. + +And if these shares get DRSed aswell?, even less liquidity. + +**Money is infinite to them, shares are not.** + +**-- [I highly recommend watching the bloomberg video from February again to understand how close we were to the collapse of the whole system](https://www.youtube.com/watch?v=Yq4jdShG_PU) --** + +This is it guys, the absolute point of no return, no more dips, less liquidty and no more "1 fucking day" to these smelly bastards if people don't paperhand during the upcoming fake squeeze. + + +**Buckle the fuck up** +Every so often I see posts that say something along the lines of how stupid the hedge funds are for shorting the price down to get people to sell etc. + +These guys are smart. Ridiculously smart. + +So why do they keep doing the dumbest thing they can do at this point? + +**Because they don't care.** + +It's exactly like 2008. They're not stupid. They know we won't sell. They just don't care. They think/know they'll be bailed out, just like every other time, and then they'll fire the money printing machine right back up. + +Acting like it's out of stupidity downplays the inhumanity of these crooks. + +*"They knew. They knew the tax payers would bail them out. They weren't being stupid. They just didn't care."* +Welcome to the **/r/EthTrader** Daily Discussion thread. The thread guidelines are as follows: +*** + +- Discussion topics include but are not limited to general discussion, details related to events of the day, technical analysis, Ethereum Classic, and minor questions. +- Important content should be posted as a separate thread. +- Be excellent to each other. + +*** + +Thank you in advance for your participation. Enjoy! + +According to this CoinDesk [article](https://www.coindesk.com/business/2021/11/18/investors-offer-opensea-10b-valuation-in-new-round-report/) from November, Opensea's valuation could be up to 10B. + +&#x200B; + +https://preview.redd.it/ymvqgucyxc881.png?width=2204&format=png&auto=webp&s=76f5f0d56e758cdeee0396c1721f358ceb789b21 + +&#x200B; + +Gamestop, at market close today, is sitting at an 11.2B marketcap. If Gamestop can become the premier marketplace for NFTs moving forward, I see no reason why they can't see massive growth in 2022. + +Gamestop has a worldwide network of stores, some of the brightest minds in the industry, and millions of customers in their PowerUp Rewards program. Upon the official release of this marketplace in 2022, GME becomes more of a value play than ever. I couldn't feel safer with my investment upon getting official confirmation of GME's NFT marketplace. + +Buy. Hold. DRS. + +2022 is going to be a wild ride. +Walmart is in the midst of a huge online expansion. They partnered with Shopify 2 months ago and they’re releasing Walmart+ soon, which could potentially rival Amazon Prime. It’s also very unlikely that COVID will have have a huge negative impact on it. + +I think WMT is at a great price right now, and it’ll have huge growth over the next year or so. What do you guys think? +Just wondering what tech stack everyone is using. + +- Custom platform or a commercial one? +- If custom: +- Language(s) and what purpose each one serves? +- Datastore? Do you use a regular db like postgres or a specialized time series db? +- Architecture? Do you have a big monolothic app? Microservices? Use a message queue? +- What mistakes did you make designing your platform early on? Did you waste time on dumb shit? Did you make naive decisions you had to undo later? Any other general 'lessons learned' advice? +- How much data is flowing through your system (ticks for the entire us stock market? or just hourly forex bars?) +Hi, I've been married for 15 years. Now I'm not. I need to get a new place so I have to figure out how much house I can afford. So I need to do a new budget for just me. What's a good way to estimate my new expenses? This feels like a stupid question but I can't seem to do anything more than guess when it comes to categories like utilities and gasoline. I know a lot depends on how much things cost in my area, but my power usage will be way less, I'll be driving less, only have to feed kids half the time, my situation is way different now. In short, how do you male a budget when you don't know what the projected expenses will be? + Hey guys, currently a 23 year old male making about 9200/month after taxes. My mortgage and all monthly expenses add up to about 2000 dollars. I currently contribute 3000 dollars a month to a brokerage account and 500 dollars a month into a Roth IRA. I have a financial advisor that heads the accounts I’m trying to get my savings up to 10 grand, which should be done by June. After my savings is filled up, I’ll have about 3 grand left over each month and I’m just wondering what to do with it. I’ve thought about opening another brokerage account and investing in index funds. Any advice is much appreciated! +I have 4 kids (7, 4, 3, and 2) and my wife is out of the picture. We’ve lived at my mothers (rent free) for about a year. I’ve paid off about 15k worth of debt and am almost completely out of debt (just have student loans). I can save about $1100 a month. My credit score is making a huge turn around. So how do I make my lemons into lemonade? + +I’ve really been thinking of buying a duplex and renting it out till my children are older and we can move out. I’ve also considered investing in stocks, or trying to become part of an investment club. I really have no other ideas. I’ve never been in a position of being in the green (not even sure if that’s the right expression). Any advice would be greatly appreciated. +So, I own 4 rental properties now and am doing fairly well, but I believe we can always learn more. + +I'd love some book recommendations that can help me figure out what I can do better (my ultimate goal is about 15-20 properties), but almost all the book recs I've seen seem to be geared towards beginners. + +A little more info if it's helpful: I do pretty much everything on my own, apart from when the problem is too big and I need to hire an expert. After I get to the 15-20 house range I might consider hiring a property manager, but for now I'm comfortable without one. + +I also prefer to pay for the houses with cash I get from flips/my job. I know this is a much slower and less financially smart way of doing things, but I'm extremely risk adverse and this is how I feel most comfortable. So, I'm not looking for a book that is really focused on leveraging debt. + +Thanks! +So, I own 4 rental properties now and am doing fairly well, but I believe we can always learn more. + +I'd love some book recommendations that can help me figure out what I can do better (my ultimate goal is about 15-20 properties), but almost all the book recs I've seen seem to be geared towards beginners. + +A little more info if it's helpful: I do pretty much everything on my own, apart from when the problem is too big and I need to hire an expert. After I get to the 15-20 house range I might consider hiring a property manager, but for now I'm comfortable without one. + +I also prefer to pay for the houses with cash I get from flips/my job. I know this is a much slower and less financially smart way of doing things, but I'm extremely risk adverse and this is how I feel most comfortable. So, I'm not looking for a book that is really focused on leveraging debt. + +Thanks! +Buy GameStop on IEX or on straight to market brokers every post should be this and every body should do this. Don’t ask me what the shit is you want to be a millionaire or billionaire look it up your self. Don’t be so incredibly lazy. If you refuse to fight the war rather than just buy your one share and say your doing something stfu. + +Buy on IEX or on a direct to market broker. Buy on t+21 and 35 days. You either wanna win or you want to complain about manipulation. Buy gme on iex or direct to market broker. That needs to be every single post till this is over. Like this if you want but you should repost and flood the timeline with iex or direct to market. Only way to stop the super manipulation. +Throwaway so my bf doesn't see this on my reddit + +My bf & I have been dating for 5 years and we recently started talking about moving in together. We are in SF where I consider myself to be very fortunate to have my living situation. I live with housemates and pay $800/mo. Our house is spacious, well-kept, and in a quiet neighborhood. I love living here. After talking about our ideal apartment, my bf is pretty much locked into the idea of paying $4000/mo for a place in a shiny new tower. While I can certainly afford that, I don't want my living expenses to triple. + +He is generally very careless with his spending. He has a 401k and IRA but contributes maybe $15k/yr to both including his match. He also has a small emergency fund of around $10k. But everything else is spent. Food, clothes, trips, alcohol, partying, electronics, etc. He's even talking about buying a Model X. He's not in debt but he definitely spends too much and doesn't understand why I don't. + +He is convinced that he doesn't have to worry about saving and investing until later in life. Meanwhile, FIRE is looking like a real possibility for me. My SR is 70% but when I'm with my bf, I tend to spend a lot more than I normally would. It's like a weird form of peer pressure. + +The apartment conversation really got me thinking about the fact that we aren't compatible from a personal finance standpoint. I've tried talking to him and explaining my concerns and plans for the future but he just brushes it off. It's at the point where I'm considering ending the relationship. + +Looking for some advice for how to approach this. He is an amazing guy otherwise and we are very much in love but, we can't see eye-to-eye when it comes to money. Is breaking up my only solution here? +hey guys! 18f here, moving out of abusive foster parent home. i’ve been applying since January and I finally found a place! The tenants that were supposed to move in ghosted the landlord, so he called me and I have two weeks to come up with the rest of the security deposit. I had all the necessities bought and I put them in a storage container however it was under my foster mothers name and I gave her money each month, because I wasn’t 18 and I couldn’t have it under my name. She didn’t use the money I gave her to keep the storage container, and I found out that all of it is gone and I move in TWO WEEKS!! I’ve been living on facebook marketplace, posting my wishlist to facebook, in and out of thrift stores, going to shelters and food banks. i try to get help on reddit but you have to have comment karma but it can’t be “spam all in one day”. i can rough it out but like i dont even have simple cleaning stuff at this point and my paychecks need to go straight to the security deposit. any advice? +Uber’s CEO Travis Kalanick recently said that when Tesla Motors’ vehicles become fully autonomous, he is interested in buying every one of them. + +The comments were relayed by venture capitalist Steve Jurvetson during last month’s Top 10 Tech Trends dinner, as reported by Charged EVs. Uber is a ride service that swaps fleet-owned taxis and professional drivers for crowd-sourced drivers who use their own car to chauffer passengers. + +According to Jurvetson, in a recent conversation Kalanick told him that “in 2020, if Tesla’s cars are autonomous, he’d want to buy all of them.” + +http://www.hybridcars.com/uber-wants-to-buy-all-self-driving-teslas-in-2020/ +No I’m not here to sh#t on Cardano, I’m just trying to show how much hype is important in this market. + +At some point in time, Cardano was 3rd place in market capitalization behind Ethereum and Bitcoin, yet it still didn’t even have smart contracts compared to Ethereum which already had them perfected a long beforehand. + +I like Cardano a lot don’t get me wrong, butI just feel like they’re very slow with development especially compared to other chains like Polygon for example. + +If anything, Polygon is WAY younger than Cardano yet it still managed to get 7000+ fully functioning dApps on board a lot of which are of very high quality actually. And quiet honestly, I think a project like Polygon is more deserving of slot at the top. + +Cardano has **A LOT** of potential if only they improve their development timing. But for the current performance, I just think they’re very overhyped. That’s just my personal take though. +Congrats to the people who have been keeping up with Flashstake! + + +I would just like to remind everyone that it's still super early.Never before has it been possible to get your yield upfront when staking - Flashstake is a one of a kind product - a primal DeFi protocol like Compound and Maker, allowing other projects to build on top of it. The potential growth here is immense, considering we're still sub 10m market cap. + +The Flash Protocol is trustless and allows for other projects to build on top of it in order to utilize its awesome flashstaking capabilities and this is just it's basic usecase. Here are some stuff to look forward to in the coming months: + + +* **Upfront Flash Offerings (UFO) for startups** +Think ICO's, but instead of risking your bag, you can flashstake a startup and give them the yield. They give you their tokens in return. [Youtube vid explaining UFO's](https://youtu.be/DIc6xcfxP8w) + +* **Layer 2 integration on Optimism** +ETH gas fees are keeping a lot of people from using the protocol right now, but L2 is going to change that, allowing for nearly free Flashstakes! + +* **Stake any ERC earn any ERC with Zynthetic integration** +Currently, the only way to flashstake is by using the FLASH token. Zynthetic (one of Blockzeros projects) will change this. ANY ERC will be stakable. This will require no native token so it will be integrated to work with $FLASH. FLASH will still offer way higher APY than the other tokens, but Zynthetic will put the flash protocol on the map just by allowing anyone to get upfront yield on their ERC tokens. + +* **Transferless payments** +You will be able to pay somone directly by redirecting your yield to their wallet. + +* **Flash Donations** +Support a charity by flashstaking + +* **Visual overhaul of the dapp** + +This one is a long term hold guys, it's not often gems like these show up in crypto. If it gets only to 10% of the market caps of similar products, we're talking 10-50x easy + +[Website](https://flashstake.io) // [Technical Info](https://docs.flashstake.io) // [Audit](https://github.com/solidified-platform/audits/blob/master/Audit%20Report%20-%20Flash%20Protocol%20%5B04.12.2020%5D.pdf) // [Team Website](https://blockzerolabs.io) // [Coingecko](https://www.coingecko.com/en/coins/flash-stake) // [Telegram](https://t.me/flashstake) // [Youtube explanation](https://youtu.be/0pqddbLy3SI) +Monero +$.50 to $459. +$.50 on Jan. 2016 +$459 on Jan. 2018 + +$115,833% gain + +$10,000 on Jan 2016 in Monero turns to $4,000,000 in two years on Jan 2018. So the coin basically 900 times in 2 years. What other coins have been like that and what coins currently have that potential in a couple years 2-5? Will this kind of gains ever happen again? +Name some potentials right now. Also, has there been any other coins that have gained close to this much? Tezos is only $2.20 but I’m not sure about it’s potential. I’m still researching. But that’s my example I’m providing. $2 to maybe $50 in a couple years. +Something that has struck me about the FI movement recently, is the huge amount of effort a sizeable number of people are putting into getting tiny incremental gains and savings, while ignoring arguably the most important component, rate of return. + +As an example, I will use five MSCI indexes, and their annualised return over the last 25 years. The first three of which are representative of the kinds of investments a lot of us here make. These are the MSCI UK, World, USA, USA Quality, and USA Momentum. + +The 10 year annualised standard deviation (a 25 year figure isn’t shown here, but I have linked the 40 year backtest too, which also has comparable std dev), is 15.58%, 13.75%, 13.54%, 12.76% and 13.17%, so all fairly comparable. As for the 25 year annualised returns (which incorporates multiple large bear markets over the period, and a variety of market conditions), they are 5.54%, 7.81%, 10.46%, 12.71% and 14.11%. + +If you invested £1,000/month, increasing said investment with inflation, and assuming 2%/year inflation, for 25 years, you would end up with the following portfolio values in real terms. £470k, £644k, £948k, £1.33m and £1.65m. + +I fully understand that discussing how to maximise savings rates is important, where to cut back, how to utilise spending, and so on, but to me at least, it feels like a lot of people don’t put much thought into the index/investment/s they choose. The aforementioned examples are all from the same provider, with comparable volatility, diversification, and within reason, similar fees and accessibility. + +This is just something to think about, and obviously the specific indexes weren’t the crux of the point, but just for the sake of a real world example. + +**TLDR: Returns make a huge difference to your FIRE plans, minute savings don’t, should we be discussing/focussing on the former more?** + +**Edit: To be clear, betting on something like an active fund or specific sector, because it has had decent recent returns, won’t necessarily outperform, they suffer a reversion to the mean.** + +**That is completely different from factor investing, which is a systematic approach, that has consistently outperformed the market, over 200+ years of US data, as per Fama &amp; French, and a dozen other pieces of literature. Please don’t conflate selection bias, with factor exposure.** [Link ](http://www.cmgwealth.com/wp-content/uploads/2013/07/212-Yrs-of-Price-Momentum-Geczy.pdf) [Link 2](https://rady.ucsd.edu/faculty/directory/valkanov/pub/classes/mfe/docs/fama_french_jfe_1993.pdf) + +[MSCI UK](https://www.msci.com/documents/10199/587e9bae-0a65-49e8-b1c6-bb84cf061441) + +[MSCI World](https://www.msci.com/documents/10199/149ed7bc-316e-4b4c-8ea4-43fcb5bd6523) + +[MSCI USA](https://www.msci.com/documents/10199/67a768a1-71d0-4bd0-8d7e-f7b53e8d0d9f) + +[MSCI USA Quality ](https://www.msci.com/documents/10199/4af921f5-0bbc-470b-ad69-19a177fad9cf) + +[MSCI USA Momentum ](https://www.msci.com/documents/10199/f3a22268-affd-478a-b7a7-50dc90fad923) + +[Compound Interest and Inflation Calculator ](https://www.aarp.org/money/investing/investment_return_calculator.html) + +[MSCI Factors 40 Year Backtest ](https://www.msci.com/documents/10199/313df136-0da3-46b2-ace0-5c5b737a0989) +Full ATO Dataset containing all 1,189 professions across 14,228,292 tax returns https://data.gov.au/data/dataset/taxation-statistics-2017-18/resource/c1274cbb-aaed-49e0-84c8-3ed5d91fa16e?inner_span=True + +Top 100 summarized here + +Rank|Profession|# Individuals|Avg taxable income|Median taxable income +---|---|---|---|---| +1| Medical specialist - neurosurgeon|179| $576,605 | $396,317 +2| Medical specialist - ophthalmologist|618| $514,770 | $355,811 +3| Medical specialist - plastic and reconstructive surgeon|337| $482,522 | $345,600 +4| Cardiologist|910| $463,781 | $385,720 +5| Medical specialist - urologist|315| $447,848 | $381,159 +6| Medical specialist - otorhinolaryngologist|129| $443,055 | $310,505 +7| Medical specialist - orthopaedic specialist|940| $437,620 | $346,329 +8| Medical specialist - vascular surgeon|121| $424,568 | $379,168 +9| Gastroenterologist|472| $423,706 | $382,048 +10| Judge - law|820| $401,585 | $407,490 +11| Diagnostic and interventional radiologist|2,099| $397,811 | $327,755 +12| Anaesthetist|3,334| $382,674 | $366,387 +13| Cardiothoracic surgeon|157| $370,598 | $277,809 +14| Financial investment manager|3,107| $359,663 | $172,255 +15| Medical specialist - surgeon (general)|1,766| $349,414 | $260,823 +16| Gynaecologist|1,343| $347,432 | $265,305 +17| Medical specialist - thoracic medicine specialist|124| $340,035 | $327,922 +18| Broker - futures trader|314| $315,405 | $158,202 +19| Doctor - specialist - specialist physician - other|1,665| $310,765 | $257,274 +20| Doctor - specialist - medical oncologist|466| $302,488 | $297,950 +21| Intensive care specialist|624| $302,029 | $243,983 +22| Doctor - specialist - radiation oncologist|550| $293,178 | $168,208 +23| Medical specialist - neurologist|400| $286,866 | $254,429 +24| Medical specialist - paediatric surgeon|120| $283,835 | $214,510 +25| Medical specialist - renal medicine specialist|180| $282,435 | $275,638 +26| Dermatologist|421| $280,543 | $206,917 +27| Securities and finance dealer|925| $280,428 | $141,082 +28| Medical specialist - specialist physician (general medicine)|1,919| $275,491 | $239,826 +29| Broker - stocks|2,131| $274,821 | $156,130 +30| Magistrate|551| $274,147 | $302,155 +31| Broker - investment|721| $265,324 | $126,007 +32| Clinical haematologist|324| $261,332 | $237,961 +33| Emergency medicine specialist|1,697| $257,955 | $242,051 +34| Medical specialist - rheumatologist|168| $255,577 | $232,445 +35| Analyst - equities|1,403| $255,489 | $133,847 +36| State governor|21| $252,650 | $112,422 +37| Endocrinologist|351| $243,744 | $199,892 +38| Cricketer|356| $242,051 | $100,940 +39| Executive - type not specified|9| $237,230 | $171,081 +40| Medical specialist - psychiatrist|2,950| $225,206 | $201,177 +41| Dental specialist|924| $223,390 | $133,813 +42| Medical specialist - paediatrician|1,588| $219,914 | $188,238 +43| Member of parliament|833| $205,188 | $196,823 +44| Engineer - petroleum|2,122| $190,726 | $156,190 +45| Actuary|2,178| $185,849 | $145,999 +46| Manager - mining production|4,221| $183,221 | $153,194 +47| Doctor - medical practitioner - other|19,135| $177,466 | $127,404 +48| Engineer - mining|6,477| $175,541 | $150,788 +49| Chief executive officer|183,474| $170,332 | $75,142 +50| Medical practitioner - general practice|22,289| $166,873 | $137,389 +51| Engineer - engineering manager|25,546| $156,015 | $130,298 +52| Medical specialist - pathologist|2,540| $155,607 | $67,173 +53| Registrar - legal - type not specified|3| $155,456 | $138,740 +54| Aeroplane pilot|9,072| $155,087 | $132,396 +55| Mine deputy|8,567| $154,045 | $149,397 +56| Intellectual property lawyer|392| $149,762 | $112,756 +57| Dredge operator|611| $149,020 | $158,300 +58| Company secretary - corporate governance|2,407| $147,541 | $82,795 +59| Chief information officer|6,738| $147,278 | $113,591 +60| Defence force personnel - type not specified|3| $147,121 | $157,702 +61| Plant operator - power generation plant|2,496| $146,106 | $139,052 +62| Air traffic controller|1,964| $145,146 | $147,739 +63| Footballer|2,933| $144,184 | $75,722 +64| Geophysicist|1,258| $144,056 | $104,125 +65| Analyst - financial risk|5,487| $143,830 | $110,697 +66| Turner - porcelain|2| $143,496 | $143,496 +67| Metallurgist|1,629| $143,463 | $125,773 +68| Tribunal member|299| $140,383 | $111,686 +69| Plant operator - gas plant|3,686| $140,255 | $123,580 +70| Economist|3,575| $140,190 | $111,695 +71| Bank manager|20,135| $137,782 | $108,777 +72| Consultant - mining engineer|481| $136,236 | $124,039 +73| Consultant - financial investment|3,399| $135,384 | $82,132 +74| Broker - commodities|936| $135,301 | $91,201 +75| Geologist|8,000| $133,513 | $109,901 +76| Computing professional - business development manager|5,674| $133,416 | $111,669 +77| Computing professional - other manager|32,831| $132,953 | $118,016 +78| Dentist|8,175| $132,475 | $111,703 +79| Consultant - management|23,636| $130,399 | $96,710 +80| Announcer - television|678| $129,392 | $89,123 +81| Computing professional - account manager|3,601| $129,021 | $110,140 +82| Engineer - other professional|16,809| $128,326 | $108,145 +83| Faculty head|721| $127,622 | $106,459 +84| Design engineer - type not specified|2| $127,609 | $127,609 +85| Lawyer|56,495| $127,321 | $97,367 +86| Chemical engineer|6,503| $125,411 | $108,353 +87| Administrator - funds|2,564| $124,993 | $64,684 +88| Barrister|1,718| $124,812 | $43,489 +89| Train controller|1,424| $123,214 | $128,494 +90| Engineer - type not specified|260| $122,881 | $106,636 +91| Computing professional - project manager|26,369| $121,976 | $111,481 +92| Ship's captain or master|2,744| $121,762 | $96,800 +93| School principal|12,454| $121,685 | $118,515 +94| Industrial relations manager|26,661| $121,472 | $99,316 +95| Finance manager|53,648| $120,800 | $86,467 +96| Engineer - marine|4,644| $119,935 | $105,585 +97| Director - wholesaling company|2,897| $119,627 | $66,658 +98| Coal miner|33,563| $118,932 | $118,571 +99| Helicopter pilot|1,631| $118,866 | $107,100 +100| Corporate services manager|10,811| $118,531 | $97,010 +Hi everyone, u/FullyCommittedMaybe here. Long-time-no-post. Speaking of which, I hope this meets the criteria for its own post! I've been collecting data for just over 3 years, and I finally reached a big milestone, so I figured I would spend a minute longer than usual and share real-life (albeit anecdotal) results of my mortgage vs. investment experiment. Up front, I do want to acknowledge that I have been *very fortunate* in many ways, and of course that your milage may vary. + +**Background:** in January 2019, I set the goal to pay off (or have enough money to pay off) my mortgage by 1/2025 (as you might have already guessed...I beat the timeline by more than 2.5 years). I moved into the house 4/2016, so the original target would have been quite early relative to your typical 30 (or even 15) year plan, but I wanted to be aggressive. I was 31 when I set the goal, and I owed $130.5K at 2.875%. + +At that time, there were regular comments (maybe there still are?) in the daily discussions with folks asking which was better -- pay off the mortgage early? Or keep the mortgage and invest surplus income in an attempt to outpace the mortgage interest rate? My gut told me to pay off the mortgage...I'd have plenty of money to invest once the payment was gone, I'd be 100% debt free, and I'd sleep better at night knowing I owned the house. But I just couldn't pull the trigger knowing that I had a great income, my interest rate is mega-mega-low, I am (sort of) young, and I can easily take on (what I would consider to be) a relatively low risk. I chose to invest the money, and I'm so glad I did. As of this month, I have enough to pay off the mortgage. So, how did the investments do vs. had I paid down the principal and saved the interest? + +**Results:** + +*Scenario 1:* If I had made payments as usual (no side-investments, no extra mortgage payments), I would have paid: + +* $130.5K principal +* $24.7K interest +* **$155.2K total** + +*Scenario 2:* If I had used what I'm calling my surplus income ($88.8K over 39 months) to pay down the principal early (and made the payments on the same dates that I made my investments), I would have paid: + +* 130.5K principal +* $7.7K interest +* **$138.2K total ($17.0K better than Scenario 1)** + +*Scenario 3* (what I actually did): I made regular investments over the course of the last 39 months in VIGAX and VTSAX until the account was large enough to pay off my mortgage (after capital gains taxes). + +* $30.5K principal (regular mortgage payments) +* $10.9K interest (regular mortgage payments) +* $88.8K investment +* **Total "paid" by me**: $129.7K +* Total growth: $21.0K (which will generate roughly $3.2K in taxes) +* If I sell, pay taxes, and pay off the mortgage in full today, I will have $6.1K remaining +* **Total cost to me (since I have $6.1K remaining) = $123.6K ($31.7K better than Scenario 1, $14.7K better than Scenario 2)** + +**Takeaways:** + +1. Given the market is down YTD, this is perfect timing to conclude and reflect on the experiment. Many of my friends and family feel that there is too much uncertainty in the market to put a large chunk of extra cash into it. COVID, gas prices, attempted reversal of a presidential election, war, etc. Lots to be afraid of, and the news will always remind you of that. But the gains of the last few years (which were, admittedly, tremendous) overshadow my YTD results in a big way. I'm glad I did not miss out on all those gains! +2. My investment loss is -$12.5K YTD in this investment account. So even with all the uncertainty and the losses, I still came out way ahead in the long run. I know this is only a 39 month experiment, but it's a good reminder that my personal philosophy is to focus on long-term strategies. +3. The reason the title says "Final-ish Results" is because I am not cashing out. In scenarios 1 and 2, the payoff dates would not yet be here. The money still has time to grow (or shrink!) before I hit the payoff dates in those scenarios. My suspicion is that it grows and I'm even further ahead. +4. Obviously I am fortunate beyond belief in terms of the market, income, stimulus, etc. Just want to acknowledge that one more time. +5. Looking back, it seems silly that I ever considered *not* doing this. It is such a small risk relative to the potential reward, in my opinion. + +What did I miss? Any questions? I do not have Reddit on my phone anymore so I will check in on this post later. Good luck out there, everyone! +Good Morning ! + +Ready for another day of charts with your favorite crayon artist? Me too! + +So to day we will hopefully find out the answer to the ultimate question, What happens when GameStop breaks away from the 180 resistance well find this out and more here on reddit over on our + +YouTube stream [https://www.youtube.com/c/PickleFinancial](https://www.youtube.com/c/PickleFinancial) + +and + +Discord [https://discord.gg/HbqnUVsSrH](https://discord.gg/HbqnUVsSrH) + +&#x200B; + +Historical Resistance/Support: + +# 180 + +&#x200B; + +*This Post will read from top to bottom, any images over 20 will be deleted as the day progresses.* + +**Questions are always welcome I will reply down in the comments as often as I can** + +# End of Day Wrap + +Here are the stats + +https://preview.redd.it/sj2qrb6r56w61.png?width=760&format=png&auto=webp&s=676e6bf35996ded47414f47195046b4ac27fe108 + +The Battle for 180 continues into tomorrow we had $10 dollars of range on our historically lowest volume day this year. 3.69 million hmm?...The sheer amount of open interest at the $200c strike means the battle for 180 is very important. + +It's a possibility we could see a gap up in post/pre-market to attempt to cross 180 + +Otherwise I'll see you all tomorrow morning and have a good night. + +Edit 20 3:46 + +1 More test? + +https://preview.redd.it/tb3dyk5b26w61.png?width=1041&format=png&auto=webp&s=9dd4aad1014f13e25debc18da160e03077ebee2d + +Edit 19 3:23 + +Still trying to get through maybe 1 more test before close + +https://preview.redd.it/q74lv44ay5w61.png?width=1176&format=png&auto=webp&s=38eb6c75518b9174022eb9661050202e26864e61 + +Edit 18 2:39 + +New Motto "Buy the resistance and hodl" + +Looking for another test after we consolidate + +https://preview.redd.it/ngnrt2tgq5w61.png?width=1145&format=png&auto=webp&s=6d588045542a1a8e1156c862eddb66535e819c3e + +&#x200B; + +Edit 17 2:35 + +battle for 180 has commenced + +https://preview.redd.it/shuoxyqlp5w61.png?width=1073&format=png&auto=webp&s=2cc4778d621a2d469bbd64e6e938baf551da1829 + +Edit 16 2:21 + +Bullish ? No seriously we are on track to set a low volume record + +https://preview.redd.it/d5msvey5n5w61.png?width=1059&format=png&auto=webp&s=352f8845d2a7175ebc511e7ad979f6c397e8382a + +Edit 15 1:42 + +Possible Catalyst List + +1. Animated poop + +Edit 14 1:37 + +Looks like somebody is tired of waiting + +https://preview.redd.it/pgjc1v9af5w61.png?width=886&format=png&auto=webp&s=2d511e3d8b113eb86d0686cd7a429f470f5a0099 + +Edit 13 1:25 + +Bull flag looking nice we still have no volume but this could lift us comfortably over VWAP + +https://preview.redd.it/a5wa4uo6d5w61.png?width=1127&format=png&auto=webp&s=9b7f45b3d89559013e02b4c467f25887806181db + +Edit 12 1:11 + +Chopping on support/resistance nothing to report having some issues with uploads to reddit currently + +Edit 11 12:45 + +Volume is super dry but looks like we are going to stay above VWAP + +https://preview.redd.it/8crp7am465w61.png?width=999&format=png&auto=webp&s=24e3f13b329bfdd98349bce083e94d3905e49ef6 + +Edit 10 12:11 + +Looks like a head and shoulders we could see another test of 170-172 very low volume day. + +https://preview.redd.it/u6qko5lwz4w61.png?width=1144&format=png&auto=webp&s=d5e898e036777333e39253555125cd2e744dbc88 + +Edit 9 11:52 + +Chop but we are least above VWAP looking similar to yesterday maybe one concerted effort to break 180 coming. + +https://preview.redd.it/usupd6dgw4w61.png?width=938&format=png&auto=webp&s=29cefe79aa75c07d77aa2081856f3604e1fc86b1 + +**Edit 8 11:33** + +Retest VWAP we were a little overbought on the 1 min so probably just consolidating + +https://preview.redd.it/gkjjo8u1t4w61.png?width=1009&format=png&auto=webp&s=68082d4c942465636debcf2868152ac986e53d71 + +Edit 7 11:22 + +Exactly as said below. This isn't a real stock sometimes. + +https://preview.redd.it/3i9qavt5r4w61.png?width=1222&format=png&auto=webp&s=defe647653f51300ea8a7bd56810752c9f8f1f85 + +Edit 6 10:54 + +Bounced at 170 still no volume to cross VWAP. Probably another slow day incoming. + +https://preview.redd.it/m2lgsgl7m4w61.png?width=1274&format=png&auto=webp&s=88c9791d29b78815b93320eb792a5d14e0d81921 + +Edit 5 10:32 + +Small dip still looking weak sub 1mm daily volume + +https://preview.redd.it/3l2yqphdi4w61.png?width=1309&format=png&auto=webp&s=bef2ce536b7d32becc412bfc0a608673635bb851 + +Edit 4 10:10 + +VWAP Shuffle + +https://preview.redd.it/kzo9oif9e4w61.png?width=1177&format=png&auto=webp&s=f2740f2bc7d1bf1d7632ca73aad2b5788f2eaf36 + +&#x200B; + +**Edit 3 10:00** + +Looks like it bounced slightly lower at the 172 resistance . Testing VWAP now. + +https://preview.redd.it/cd5lrjboc4w61.png?width=1335&format=png&auto=webp&s=c96d25f07f0390bff3345c7ef18ebe4bc3e3441b + +&#x200B; + +Edit 2 9:48 + +Low volume looking pretty weak as we drift away from VWAP. Possible bounce on 175. + +https://preview.redd.it/3rt9y18ia4w61.png?width=1121&format=png&auto=webp&s=1f1e702b0a3c54813e6d5f5ab04299c397663a8f + +**Edit 1 9:34** + +Small dip at open I think the 175 support will stay pretty strong today. Looks like we are getting ready for the 180 test. + +https://preview.redd.it/7vrftzd184w61.png?width=1089&format=png&auto=webp&s=2470dd5292bd5887c0ce07f98afade8dd7151389 + +# Pre-market Analysis + +Pre-Edit 3 9:25 + +Pre-Market Volume low (25k) but we are sitting right back at 180 so we could push through on opening bell + +Pre-Edit 2 9:00 + +Looks like we filled that gap in the pre-market + +https://preview.redd.it/a04w4mdg14w61.png?width=1343&format=png&auto=webp&s=e23030a175af1cba81bec55e99b215bd5315c97a + +Pre-Edit 1 8:30 + +Small gap down in the premarket nothing to worry about hopefully filling it on the way up will give us some momentum to get through yesterday's key resistance at 180. + +This is not Financial advice. The ideas and opinions expressed here are for educational and entertainment purposes only. +What is your target fatFIRE number and more importantly why? +I’ll go first . My target fatFIRE number - 10MM USD. Even at 1% net annual yield leads to a substantial 100k USD stream of income . (Net after considering taxes and inflation ) +Mentally it is hard for me to think realistically about a number beyond that . Like 50MM USD, other than more toys, I cannot imagine drastic lifestyle improvements/benefits (yet) + +How would you take care of an aging parent or parents who are starting to become less self-reliant and develop health problems? I think this is relevant to /r/fatFIRE because presumably people here have the means to take care of an aging parent in whatever capacity they feel is best (and not necessarily limited by money). For bonus points, how do you balance that with your own goals if you could afford it, but it would delay your fatFIRE timeline? + +Some more about my situation: +* Mid-70s father-in-law (FIL) has been widowed for 10 years and lonely living in a different city from his children. Last year he moved to our city to be near my wife and our new daughter, and it has been really beneficial in terms of his relationship with our daughter (doubly important during COVID), as well as in seeing family and getting quality meals several times per week, etc. We are early 30s and will have one more child. +* He’s starting to lose it a bit: forgetting watching a movie with you last week, needing help with assembling a desk, staying up super late, eating one meal per day, starting to develop health issues, etc. But, he is still able to live independently and doesn’t need long term care. +* We’ve kicked around the idea of our next house being bigger such that he can live with us, which would remove most of the home ownership burden from him (which would be transferred to me anyway if he was living in his own house near us). And more importantly, he could have great relationships with our children while also having family to keep an eye on him and take care of him. All three of us are amenable to the idea, but aren’t 100% sure how to proceed. +* Generally we get along, but we realized we would probably need a house with at least a separate in-low floor, if not one with a separate entrance or one as a cottage. That’s so that we have enough space so that we don’t feel the occasional bit of conflict in our lifestyles (such as him staying up late watching TV loudly or if we are too tired to hang out). +* This housing “requirement” unfortunately seems to mostly push us into new/recent-build territory, which in our desired neighborhood of Seattle can exceed $2M. We don’t want to be house poor buying that on ~$400k income and ~$1.45M net worth, although how does that change if FIL pays ~1/4 of the downpayment and monthly payment? (he has $2-3M in assets FWIW) +* Basically it feels like a catch-22 of not wanting to spend more than we can comfortably afford to make the situation the most comfortable and most likely to work out, since there’s a (small?) risk of it not working out and then being stuck with a too expensive house. +* Our current house is too small to do a trial run. + +Of course, we could probably give it a try and see how it goes, but nobody wants to unnecessarily slow down fatFIRE if it crashes and burns and we need to eat a bunch of transaction costs (or worse, suffer through it). What do you think? +One item I rarely see on people’s household budget posts here is charitable giving, which seems unlikely given 64% of adults donated to charity in 2018 [according to NPT UK. ](https://www.nptuk.org/philanthropic-resources/uk-charitable-giving-statistics/) + +Do you donate spontaneously when something catches your eye, and call that part of your discretionary spend? Do you donate 10% to church, like a classic tithe, and put that down as a “tax” in your budgeting? How has this spending changed as your income did? + +There are frequent discussions here about what percentage people find “reasonable” to spend on a car, or housing, or pensions. I was wondering what people find is a “reasonable” spend for charitable giving. I know the Gift Aid donation cap is 4x total annual tax payments, but I imagine very few people hit that. +Sup apes. In my first [DD last week](https://old.reddit.com/r/wallstreetbets/comments/nxhh7d/crsr_dd_or_why_you_should_park_all_your_cash_in/), I gave a short rundown of why Corsair is incredibly undervalued, and how it should be in **everyone’s portfolio**. With Part 2, I’m addressing a lot of the comments I got as well as going a bit deeper into how Corsair will make this industry their bitch and reach ATH in 2021. + +- + + +**Why is Corsair in a strong position to leverage the gaming and streaming industry?** +- +Corsair didn’t snooze, but rather spend the last years hunting for good companies to acquire. Being well funded, profitable and raking in cash every year allowed them to expand in all directions with a core focus on the fastest growing niche: Streaming. Have a look at their investor relations page: + +- + +*“Corsair is a leading global provider and innovator of high-performance gear for gamers and content creators. Our industry-leading gaming gear helps digital athletes, from casual gamers to committed professionals, to perform at their peak across PC or console platforms, and our streaming gear enables creators to produce studio-quality content to share with friends or to broadcast to millions of fans.* + +*CORSAIR also includes subsidiary brands Elgato, which provides premium studio equipment and accessories for content creators, SCUF Gaming, which builds custom-designed controllers for competitive gamers, and **ORIGIN PC**, a builder of custom gaming and workstation desktop PCs and laptops.** + +- +With Elgato they positioned themselves years ago already to capitalize on one of the fastest growing entertainment subsegments (Streaming). While acquiring SCUF Gaming and ORIGIN PC allowed them to also expand and play in the console market as well as Pre Build PCs and laptops. **They basically moved up the ladder from RGB fans, keyboards, RAM sticks and Cases to EVERYTHING you need to play, stream or game properly.** + +**How much faster is Corsair really expanding?** +- + +I cannot stress this enough, but their last quarter results really blew it completely out of the water. Seeing how they raised guidance, I think August will be even more brutal. One for value: + +* **$529.4 million** in net revenue, an increase of **71.6%** year-over-year. +* **$175.9 million** net revenue for Gamer and creator peripherals segment, an increase of **131.9%** year-over-year. +* Gross profit was **$160.3 million**, an increase of **103.9%** year-over-year, with a gross margin of 30.3%, an improvement of 480 basis points year-over-year. +* Operating income was **$67.3 million**, an increase of **404.5%** year-over-year. +* Adjusted operating income was **$80.4 million**, an increase of **221.4%** year-over-year. + + +- +Do yourself a favor and whip up a site like FinViz, punch in your favorite meme stock and have a look at their revenue number vs market cap. There’s a reason why GME got picked up by DFV. Sales is still king and undervalued companies with aggressive growth have insane potential short and long term. + +- +**Why hasn’t it blown up yet to +100?** +- + +There is a good amount of chatter about two things. One being market manipulation, the other is that there is very little retail investor interest, compared to the amount of net sellers. The second point actually holds up, the stock never really got picked up by retail investors (or apes) and a lot of the commenters that did buy it up, mentioned how they were perfectly content with amassing shares every month while the price is still low. Pure but selfish value investing. + +- +**Eagle What?** +- + +This one was also pointed out a lot. Corsair is owned by a private equity firm called EagleTree. They purchased the majority stake back in 2017 (which in turn allowed Corsair to expand much more aggressively) and now is obligated to reduce their share position over the next years until they only hold 10% of the company. + +They currently hold 61.9%. The shares sold are mostly picked up by **Vanguard**, **Blackrock** and a few other small institutions, plus retail of course. Looking at insider transactions we can see that EagleTree usually sells shares twice a year with the last transaction happening **June 3rd 2021**. + +This point doesn’t concern me too much personally, as it’s normal for private equity firms to reduce their stake after IPOs and Corsair is barely dipping $2 even with EagleTree selling 5 million shares. Now having sold their shares just now, it will probably be quiet for the next 6 months. + +- +**Back to 2021 and how you can make money** +- + +They have a strong customer base which they've built up over the last 20 years, and thought f+ck it, let’s go all in on this market. Tits and streaming? Amazing! Controllers for consoles? Let’s do it. RGB Spinners on your lambo? Fuuckyea. + +- + +Instead of focusing on boring office peripherals that every Chinese company provides, they instead decided to slap RGB on everything and are loved for it. + +- + +**Now EagleTree is gonna continue doing what eagles do, and we will continue doing what apes do. I’ll continue buying this company and watching their ER like a hawk while analysts jack themselves off over the sort of numbers Corsair hits out every quarter.** + +- +I said it once, and I’ll say it again. If you don’t hold Corsair shares, you are pretty retarded. But since that’s half the sub already, just do your wife’s boyfriend a favour and pick up some shares while they are still dirt cheap. He will thank you for it once they hit **$70** or even blow through the stratosphere with **+$100.** + +- + +**TL:DR** + +Corsair CEO Smart. Put this in your boomer dad’s portfolio (shares) and If you like gambling, buy some calls. + +- + +Position: 100 shares at $33 and 12x 40$ Nov Calls. (yes I’m poor, and you can do better). +Woke up this morning with a text alert from my bank saying my account was overdrafted. I log in, and see a balance of -15,000. + +I set up a Roth IRA for the first time with T Rowe Price two days ago. Bought into 5 funds at $1200 each, for a total of $6k, the maximum allowable Roth IRA contribution for 2021. + +I see that instead of withdrawing $6000, T Rowe Price withdrew $30,000!!! They essentially stole $24,000 from me. I call T Rowe Price immediately when I see this mistake. The lady I spoke with (I think her name was Christian?) said that I funded 5 different Roth IRA accounts at $6,000 each, two days ago. Clearly she has no idea how a Roth IRA works. I told her this wasn’t possible, as the maximum yearly contribution for a Roth IRA was $6,000. She continues to try to gaslight me and tell me this was my mistake. I finally get another customer service agent, who tells me they will open a ticket and to call my bank for the funds back. + +I call my bank to dispute the transaction. They tell me they would, but won’t have any updates for me until next week. So now I have -15,000 in my back account, thanks to T Rowe Price taking an extra $24,000 from me. + +Stick with Vanguard or Fidelity for your Roth IRA needs… + +EDIT: For those saying it was a clerical error on my end, T. Rowe Price's website does NOT let you contribute more than your IRS limit per year. [Here](https://imgur.com/D3Balrh) is what I see when I try to do that. There is no way this was an error on my end. And as you can see, the screenshot confirms my story. + +I did not receive a confirmation email from T. Rowe Price until 8:30 AM this morning, and the statement had the incorrect amounts ($6k into each fund, instead of $6k total.) + +EDIT #2: +So this is how T Rowe Price's Roth IRA funding works: You enter the amount you want to contribute on the first page shown in the screenshot(Eg. $6k), then it takes you to a page to select your funds. Then you select the % of your contribution each fund receives. So I said that I wanted each fund to receive 20% of my 6k contribution, at $1200 each. There is a minimum of $1,000 to buy into each fund. So I really don't see where I could have accidentally put 6k into EACH fund. I only hit submit on the webpage once. + +T Rowe Price called me back and stated that they would do some keystroke analysis to find out what happened. They told me to call my bank for the funds back. My bank said it would take 3 business days to get everything sorted. + +EDIT#3: +The T Rowe Price employee just called me again. Said he didn't have any updates about the "keystroke analysis,” and that it would take about 3 days to come back. He clarified that I only have ONE Roth IRA with 5 mutual funds, funded at 6,000 each. He stated another customer may have had the same glitch this morning where it funded a mutual fund with $6,000 when it was supposed to be less than that. He was pretty understanding, and asked if I could pay may bills while they get this sorted. I said yes (assuming it will only take a few days for my bank to get the funds back.) I wonder what they would have done if I said no? + +Either way, feeling less panicked. And I have been happy with the way T Rowe Price has responded. I wasn’t expecting a second phone call tonight. The rep even offered to call daily to check in; I told him he didn’t need to call everyday, and he could just call when he had updates. + +Thank you for all the responses!!! + +EDIT#5: +Funds reappeared in my bank account around 5:30AM the next day! Thank you folks for all your help! + +[FINAL UPDATE: T Rowe Price found the bug!](https://www.reddit.com/r/personalfinance/comments/qru65w/update_t_rowe_price_roth_ira_30k_withdrawn/?utm_source=share&amp;utm_medium=ios_app&amp;utm_name=iossmf) +[https://amp.afr.com/news/economy/monetary-policy/rba-s-plea-to-avoid-zero-interest-rates-20190809-p52fkj](https://amp.afr.com/news/economy/monetary-policy/rba-s-plea-to-avoid-zero-interest-rates-20190809-p52fkj) +Happy Friday 7/23! This surprising article below is noteworthy confirmation bias from a financial media source that we more often see discredting GME. I've copied a few relevant passages below. It's not anything Earth shattering in terms of DD but basically confirms our core thesis about GME is correct & gives respect to the strength of apes' Diamond Hands. It's a good, easily digestible article to show a family member or friend who's somewhat of a skeptic and doesn't want to absorb complex Vitamin DD! + +Volatile GameStop Stock Will Continue to Burn Shorts + +Investor Place·7/23/2021, 4:00:48 AM + +Looking back upon a bizarre first half of 2021, it’s interesting to revisit the wild price moves of GME stock. + +Everyone and his uncle wants to find the next GameStop, but there’s really nothing like the original. I mean, the price move in this stock was legendary. + +And, it set up a target for the bulls. When GME stock touched $483 in January, investors’ accounts lit up bright green while short sellers awaited calls from their brokers’ margin desks. + +It was the best of times and the worst of times, depending on which side of the trade you happened to be. + +The short sellers have attempted to fight back, but the GameStop stalwarts seem to have endless energy. +For an immediate-term target, the bulls can look back to the GME stock price spikes in March and June. Those times, $300 provided a hard resistance point. + +Breaking through that with heavy, sustained volume would set $500 as the level to watch. The bulls almost got there in January — and after all, resistance levels are meant to be taken out. + +The folks on Reddit and other social media outlets who like to trade and talk stocks sometimes aren’t taken seriously by the financial press. + +That’s a shame, and it’s unfair. Big-money short sellers have pushed stocks in their desired direction for years, so why can’t retail traders band together and take on the institutional “whales”? + +It’s a fascinating debate that involves a David-versus-Goliath battle which continues to this day. + +Surprisingly, the retail crowd has kept their attention on GameStop. + +For not tossing GME stock out like yesterday’s trash, I’ll give the meme-sters respect. + +Furthermore, they haven’t capitulated in the ongoing battle against the short sellers, who undoubtedly control billions of dollars in cash and assets. + +If you’d like to join the grassroots resistance movement against the short sellers, then you’ll want to consider your strategy carefully. + +Small position sizing is rule number one, always. Yet, there’s another guideline to consider. + +Anything above 15% short interest (as measured by short volume ratio) is a good rule of thumb for considering a short squeeze target, in my opinion. + +As of July 21, GME stock’s short volume ratio was 24.3%, so this could be a springboard for an epic squeeze. With that, the $300 target and even the $500 level could be taken out quickly. + +The Bottom Line on GME Stock + +We can view this as a battle of the haves versus the have-nots, or simply as a potentially profitable trading opportunity. + +Either way, there could be another major price move coming in GME stock. + +And at the end of the day, there’s no point in judging the meme stock traders. Instead, you might consider joining them and possibly booking some nice profits. + +On the date of publication, David Moadel did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer. + +David Moadel has provided content on behalf of Crush the Street, Market Realist, TalkMarkets, Finom Group, Benzinga, and (of course) InvestorPlace.com. He also serves as the chief analyst and market researcher for Portfolio Wealth Global and hosts the YouTube channel  Looking at the Markets. +Thus far I invest purely on a fundamental basis because it's the only strategy I can understand. + +However- because of fundamental techniques I'm literally priced out of tech I mean tesla at 1000 was expensive now its 1.5 so was 1000 ever expensive? + +Tesla makes no money as well so I cant help feeling its crash is not if but when.. same with Netflix, being in the negative profit with incoming competitors + +I just dont understand I've got friends making 1-5% a week riding the "trends" and I dont even know what the fuck that means + +I dont know guys I'm a cautious person, but even I cant help feeling like an idiot only looking for value stocks right now +This is definitely the "personal" part of personal finance. + +I inherited somewhere around $500k from my mom, who passed 5 months ago. She died too soon, and it was a very heartbreaking decline. I hate every penny of that inheritance, because it all just screams her absence. I don't "need" that money, I was/am on track to achieve my financial goals through my own hard work (and privilege, too). I am in the thick of grief, and don't want to do anything I'd regret later on, including ignoring it - though that is so very tempting to do. + +I have a young son who my mom adored, so I figured it can fully fund a 529 for his college education. But that still leaves a good chunk left. Do I put it in a brokerage SPY index and then am I free to pretend it doesn't exist? + +I would give it all and so much more to have her back. +firm believer here. Since it’s birth rightfully happened as a consequence of the financial crisis, I don’t get why BTC is still moving like the common market. +I know the whole world is on fire with COVID, wars and governments printing money like there’s no tomorrow. But when I see the stock market crashing I always have the hope that BTC moves independently since it’s a whole different ball game. +I mean everyone who understands Bitcoin (compared to many here I’m still a rookie) wouldn’t be so stupid to gamble or yet short it. I know everyone got their why which would make you sell some. But unlikely during a bear. + +So it would be nice to enlighten me if it’s still a question of adoption or what has to happen for the baby to become an adult. +PS: DCA IS THE WAY +&#x200B; + +[If you don't get this reference, youtube it now and have it stuck in your head forever.](https://preview.redd.it/ez2mlqaofre71.jpg?width=1000&format=pjpg&auto=webp&s=c09021317ba9a6428c37c3f46ad2a93d40e1fd44) + +*\*disclaimer I type with my face and I cannot read, this is not financial advice and shouldn't be taken as such. I'm a stranger on the internet using this as my diary for MOASS. This is just data about a stonk I'm in love with and we rock each others worrrrrrrllddddd\** + +**MAJOR EDIT - In my sleep deprived state I messed up the calculations for float vs total outstanding shares. I had worked out 215% - 860% ownership on total shares outsanding after talking about the float. The real numbers could actually be 541% - 2166%** + +Good evening Apes, I've been asked for a while to post an update and at first I was worried that the info I would share would encourage day trading and also with how confident I am in the DD I just didn't really feel the need to make a new post. There are now a lot of new apes though who aren't as zen and probably are looking for that sweet sweet confirmation bias, so here it is! + +**1) A quick recap** + +https://preview.redd.it/vh8pdowfgse71.png?width=768&format=png&auto=webp&s=b53a51e9cc667d4f2b563b7ae3aec6fb087a5ed9 + +Michael Burry was the first one to notice that GME was an insane situation and was long on the stock way before any of us likely thought about investing in the company. Back in January GME had a reported SI% of 140% which is somehow the legal max, which really makes no sense at all. I don't think I need to explain his tweet anymore, there will never be another GME. + +&#x200B; + +https://preview.redd.it/bkcei5y9hse71.png?width=1650&format=png&auto=webp&s=01271ba682dba7226a5e6cbcc5dd56ec32f86415 + +I have nothing to really say about DFV but bringing up Burry for raising awareness on GME, it didn't feel right not mentioning DFV and also mention that this isn't just dumb money FOMOing into a random stock there is a ton of incredible research by thousands of (if not more) people. Look at the top posts all time on Superstonk to get a look if you're new there is so much stuff here worth a read. + +**2) The Float - with a little bit of volume.** + +[American dates don't do a confused scare euro apes. ](https://preview.redd.it/2uiuf9841se71.jpg?width=2388&format=pjpg&auto=webp&s=5c1ec4a8e98f91e6c6ebf841025c1c53287e55cd) + +[credit u\/bwajuk ](https://preview.redd.it/z1fhfyq51se71.jpg?width=2388&format=pjpg&auto=webp&s=bd535ba511b1c25fe666ecae005327debd45797f) + +This info is now slightly outdated but I really like how it breaks down the float which is why I've still used this info, since this graphic was made GME has completed two share offerings, offering a total of 8.5 million shares which raised over $1B in capital, not sure if you know anything about companies or if you're just here because you like the stock but when you have a cash reserve of over $1B dollars and no debt, it's pretty hard to go bankrupt. + +Quick maths +**21,992,039** (float from pretty picture) + **8.5m** = **30,492,039** + +Since January a total of **3,303,252,094** (**3.3B**) GME shares have been traded on the NYSE an average of **22,939,251** per day which is **75.2%** of the total float, **30,492,039.** + +So either every single retail investor who owns GME has bought sold and then rebought 0.75x a day for an entire year or someone has shorted this to oblivion and is going to get hammered to helheim by Odin himself. So everyone quickly look at your hands... You saw diamonds didn't you? Fantastic job! The hammer theory checks out. + +So we now know the float is roughly **30,492,039** and we know the volume for the year is 3.3B we can speculate retail ownership. Keep in mind total volume is shorts, longs, buys and sells it not just amount of people buying shares. + +**Speculative Ape Ownership of GME** + +5% of **3,303,252,094 =** 165,162,604.70 million shares. + +Total amount of GME shares that legally exist = **76.82M** + +So **IF** Apes accounted for 5% of total volume they would own 215% of ALL outstanding GME shares and 541.66% of the float. + +Now I hear you saying there is no way retail could be 5% of total volume.... + +[Sauce: https:\/\/www.proactiveinvestors.co.uk\/companies\/news\/943354\/retail-traders-now-account-for-more-us-market-volumes-than-mutual-and-hedge-funds-data-shows-943354.html](https://preview.redd.it/gekxyd1r9se71.png?width=906&format=png&auto=webp&s=048e5cb8d72e45b85f49101a0c3b5b221bc7ede3) + +**Did you say over 20%?????** + +&#x200B; + +[Give your stonk a good ole rub.](https://preview.redd.it/rlx6d1t7ase71.jpg?width=400&format=pjpg&auto=webp&s=9bdc75d097269849b6b2673417414c3b5acf50b1) + +**Speculative Ape Ownership of GME - continued** + +5% of **3,303,252,094 =** 165,162,605 million shares - 541.66% of the float. + +10% of **3,303,252,094 =** 330,325,209 million shares - 1083.32% of the float. + +15% of **3,303,252,094 =** 495,487,814 million shares - 1624.98% of the float. + +20% of **3,303,252,094 =** 660,650,418 million shares - 2166.64% of the float. + +So **IF** diamond handed apes accounted for this amount of the total volume retail could own somewhere between 541.66% - 2166.64% based on current figures, as this is retails most popular stock and has been for some time even the top estimates here could be conservative but as this is already speculating I'm not going to continue to jack your tits, plus you are all very friendly with your calculators now, you do the math for higher than 20% if you want. + +&#x200B; + +[More confirmation bias but with crayons.](https://preview.redd.it/jaacx755fse71.png?width=1175&format=png&auto=webp&s=a2d19d2fd649c79b07a90137ca5c3d2fb8711f1b) + + "But how big is the surge in retail trading? Analysts and executives say it is difficult to peg an exact figure, but here are some numbers to put it in perspective: + +\* 25%+: The percentage of overall market trades made by retail investors in July and August 2020, according to Virtu Financial, one of the world’s largest retail market makers. In January 2020 retail was 17.1% of the market. Virtu’s data only goes to November, but retail investors appear to have played an even bigger role in 2021. Jefferies analyst Daniel Fannon said on Friday retail can represent up to 32% of total U.S. equity volume." + +**3) Volume for 2021 by month** + +Total volume for Jan was crazy. + + +https://preview.redd.it/3t7s91zlnse71.png?width=1550&format=png&auto=webp&s=e322406bb5d8f8abe64cc50036a1ed7c18e22182 + + I'm sure you noticed some pretty colours! Thank you for noticing but let me quickly explain them. + +Any loss GME made in a day is marked as red or light red 3 if you want to be fancy. + +Any gains GME made under 5% in a day are orange (light orange 3) + +Any gains GME made over 5% in a day I classed as meme stonk gains and they are of course marked light green 3. + +This isn't a joke, four days with well over 100m shares traded in a day. This was a gamma squeeze and the real short squeeze was about to start however retail was locked out! Buying was turned off but shorting continued. The price yoyoed from $70-$500 per share. + +&#x200B; + +https://preview.redd.it/izc6ml6dyse71.png?width=1535&format=png&auto=webp&s=968fbb53b851279ee6e64ffc302612c962b00610 + +The day that confirmed everything for me that the shorts haven't covered, GME bounced from the $40s to $180. What a fucking 24 hours that was. + +&#x200B; + +https://preview.redd.it/kemilyixyse71.png?width=1375&format=png&auto=webp&s=51eec7a71bc8d6865e785afba2d6c99174e0d086 + +Notice the short interest, not only have they not covered but hedgefunds started shorting everything heavy to try and supress the price. + +&#x200B; + +https://preview.redd.it/i2eqb3wxzse71.png?width=1531&format=png&auto=webp&s=348526bd26828eeb3d6e9a4e9b043638e9dec4b5 + +April seemed to be the start of excessive darkpool usage but towards the end of the month as the T21 cycle kicked shorting then had to ramp back up heading into May. + +&#x200B; + +https://preview.redd.it/0k4p0rl47te71.png?width=1523&format=png&auto=webp&s=0d7951ae89a4bdefa40a6e1d5dcb946dc104fc05 + +A new record high for short percentage and a record low for volume. Full disclaimer here during this run up I had called a cup and handle pattern a few weeks before and once we started moving up pretty swiftly towards the end of May I started taking more days off with collecting data which is why you can see I've got gaps here vs previous months and for June even more gaps. + +&#x200B; + +https://preview.redd.it/e472kj8o7te71.png?width=1316&format=png&auto=webp&s=b5bc83dc40afb2696ea6a204ec28dfc58c289bb1 + +Grey area is data I'm missing, if you have it and don't mind sharing that would be great and I will update this. July I have pretty much a full month for as during June I was getting asked a lot of questions by apes who wanted an update on old DD. + +&#x200B; + +https://preview.redd.it/jgkot3338te71.png?width=1327&format=png&auto=webp&s=ff92f25f1796894496eb9d7554b05ab8a8e26c09 + +And July! Smashed the record high for Short percentage and the record low for volume! This makes me very bullish for August and as a result I have been buying as much of the dip as I can and I'm looking forward to buying again on Monday. + +The volume data shows what GME looks like during a gamma squeeze and what it looks like through naked short attacks, dark pool manipulation and just general fuckery. The important thing to remember is that short positions don't have to be covered, they have to be closed. When you start covering a short position the price goes up as you are forced to BUY, it is impossible for hedgefunds to have covered or closed positions as the price is wrong and hedgefunds continue taking further losses. + +**4) Options data proves they haven't covered/closed out** + +Melvin capital and other hedgefunds planned to cripple gamestop, if gamestop went bankrupt they would hit the "bankruptcy jackpot" saving them on having to pay any tax on the money they would make on their puts and shorts, this is why and how GME was naked shorted so heavily, to avoid paying tax. Just look at the strike price on these puts and the amount of Open Interest. + +**Important to note every contract is 100 shares.** + +[April 21 - $0.5 - $10 strike price with OI of 228,077 = 22.8m naked shorts](https://preview.redd.it/h63nbg6gate71.png?width=1104&format=png&auto=webp&s=03de55e25b16346dc50ec8eb924a012a44079f37) + +&#x200B; + +[October 21 way out the money puts, there are more](https://preview.redd.it/acbxpaezcte71.png?width=1101&format=png&auto=webp&s=cdc639384ffe5a1dc85839982a23f76a89c306b9) + +&#x200B; + +[November puts\/hidden naked shorts](https://preview.redd.it/wzyxsy92dte71.png?width=1116&format=png&auto=webp&s=4d9fc44ab46e8b5275664bab05eb525b80faf8ed) + +and the big boi..... + +&#x200B; + +[ooooooooweeeeeeeee](https://preview.redd.it/eegnqdz8dte71.png?width=1131&format=png&auto=webp&s=5a24265af7151ffa5c958935268525548b8ba3f4) + +I was going to go into the market crash and why GME having a negative beta was important but this post has already gone on so long I don't want to melt brains with more data and I have tried to keep this as simple as possible. I will make another post to cover the crash/negative beta and try to keep it as simple as possible. + +Thanks so much for going through this post! I haven't gone into crazy detail explaining anything as I believe data is king so if you have any questions about the data feel free to ask either comments or DMs. + + +TLDR: There is a lot of DD, a lot of speculation, amazing theories on reddit and for the newer apes this is the data that will confirm a lot of it for you. You'll be able to see what holders from 2020 or early 2021 have experienced and why these holders like myself are so zen. Hedgies haven't covered/closed they are fucked. Apes set high scores. + +Keep calm, hold strong and power to the players! +https://www.wsj.com/articles/sec-pursues-plan-requiring-chinese-firms-to-use-auditors-overseen-by-u-s-11605614403 + +WASHINGTON—Chinese companies with shares traded in America would be required to use auditors overseen by U.S. regulators or face being kicked off exchanges under a plan being drafted by regulators, according to people familiar with the matter. + +The proposal, which is likely to be issued for public comment in December, would address the disparate treatment that applies to Chinese companies going public in the U.S. The firms have long been able to sell shares here, yet their auditors violate a key investor protection: China hasn’t allowed their work to be inspected. + +Auditor supervision has been overseen by a special watchdog—the Public Company Accounting Oversight Board—since the accounting scandals that took down Enron Corp. nearly 20 years ago. The Securities and Exchange Commission has taken different tacks to try to get China’s cooperation with the PCAOB, from suing its audit firms to get information on fraudulent companies, to negotiating with Chinese regulators and issuing public warnings to U.S. investors about the problem. + + +Total funds raised by Chinese companies through U.S.initial public offerings +Source: S&P Global Market Intelligence +Note: 2020 figure is calendar year to date. +.billion +2016 +'20 +0 +2 +4 +6 +8 +10 +12 +$14 +Now, the SEC’s proposal would put the onus on the New York Stock Exchange and Nasdaq NDAQ -0.23% Stock Market to require compliance with the audit inspections—or bar a new Chinese company from listing. Those with shares already traded here would have a few years to comply before possibly losing their listing. + +WSJ NEWSLETTER + +Notes on the News +The news of the week in context, with Tyler Blint-Welsh. +Notes on the News +I would also like to receive updates and special offers from Dow Jones and affiliates. I can unsubscribe at any time.I agree to the Privacy Policy and Cookie Notice. +SIGN UP +The SEC is moving fast to propose key elements of the plan before the departure of Chairman Jay Clayton, who announced Monday that he plans to leave by the end of December. + +China has said it is worried about auditors revealing strategic secrets held by domestic firms, some of which are majority-owned by the Chinese government. The country put up a new hurdle this year, implementing a law that prevents its citizens and companies from complying with overseas securities regulators without the permission of its own market supervisor and other components of the Chinese government. + + +To address that issue, the SEC’s plan includes a separate proposal to allow Chinese firms to get a second review of their books by an accounting firm based in a country where auditors comply with PCAOB oversight. The audit firm doing the work would likely assume liability for the opinion it provides, and the PCAOB could check the work. + +The details for such “co-audits” would need to be spelled out in a regulation. The SEC would have to address obstacles to such arrangements, including the political and regulatory risks the second auditor might encounter in China. + +“How do you meet the U.S. goal which is an audit subject to a meaningful inspection, and what appears to be the Chinese goal of limiting the access to information held in China?” said Paul Leder, an attorney at Miller & Chevalier and former head of the SEC’s Office of International Affairs. + +Another wild card: It’s unclear how much China still values access to U.S. exchanges for its companies, and thus how much it is willing to negotiate. Alibaba Group Holding Ltd. , which went public on the NYSE in 2014, chose to raise $13 billion in a Hong Kong share sale last year. Ant Group Co., the fast-growing financial-technology giant that grew out of Alibaba, was set to raise $34 billion in Shanghai and Hong Kong before the Chinese government halted the deal. + +The SEC’s proposals would take months to adopt and implement, and Mr. Clayton’s successor and the Biden administration could seek to tweak the approach. + +The SEC’s anticipated moves follow recommendations issued by a panel of U.S. policy makers in July that suggested how to address the inspections standoff. The panel, known as the President’s Working Group on Financial Markets, recommended tightening the exchanges’ standards for listing Chinese companies. + + +NYSE and Nasdaq have declined to voluntarily change their listing rules as the President’s Working Group suggested, people familiar with the matter said. Such a move could have taken effect more quickly than a new SEC regulation. + +Nasdaq officials felt they couldn’t implement the listing rule without clearer guidance from the SEC about how co-audits would work, a person familiar with the matter said. Nasdaq in May moved to raise its minimum requirements for listing companies from countries where PCAOB cannot inspect auditors, a step that could discourage initial public offerings by smaller Chinese firms. NYSE declined to comment. + +NEWSLETTER SIGN-UP +Markets + +A pre-markets primer packed with news, trends and ideas. Plus, up-to-the-minute market data. + +PREVIEW +SUBSCRIBE +Booting Chinese companies from U.S. capital markets would hurt the revenues of NYSE, which is owned by Intercontinental Exchange Inc., ICE 0.36% and Nasdaq. The shares could still trade over the counter. + +Both exchanges earn annual listing fees from such companies and benefit from the trading activity that comes from their shares. More than 170 companies based in China or Hong Kong have completed IPOs in the U.S. since January 2014, raising about $58.7 billion, according to data from S&P Global Market Intelligence. + + +Congress is weighing its own solution. In May, the Senate passed a bill that would give Chinese companies and their auditors three years to comply with inspection requirements—or face delisting from Nasdaq and NYSE. Similar bipartisan legislation passed the House as an amendment to a defense-spending bill. + +While the SEC plans to publicize its proposed actions in December, the agency will likely issue other proposals directing public companies and mutual funds to amplify their disclosure of the audit-inspection risks associated with China, the people said. Those other proposals may not be finished before Mr. Clayton leaves, the people said. +Guten Morgen to this global band of Apes! 👋🦍 + +The amount of FUD directed at Ryan Cohen is staggering. +While none of it has a chance of changing my opinion of the man, there is zero doubt in my mind that I am not the target of this FUD. +This is an intentional effort to plant seeds in minds that will grow into future distrust from those who might otherwise become interested in the GME movement. +We have seen what Ryan has done for GameStop, and the differences between his activist investments in BBBY and GME. +The difference between BBBY and GME could not be wider. +Nevertheless, the financial media is trying to create a false equivalence between them. + +While I expect that we'll continue to see discounts as institutional investors sell and the SHFs amplify, I am unfazed at this current trend. +GameStop releases earnings after close tomorrow, and I couldn't be more excited to see where this company is moving. +The severity of the recent FUD tells me that the SHFs are more desperate than ever, and earnings may help us see exactly why. +Though the price didn't move much in yesterday's German market action, will we get an early preview today? + +Today is Tuesday, September 6th, and you know what that means! Join other apes around the world to watch infrequent updates from the German markets! + +###🚀 Buckle Up! 🚀 +*** + + +- ⬜ 120 minutes in: **$27.85 / 28,08 €** *(volume: 3099)* +- ⬜ 115 minutes in: $27.85 / 28,08 € *(volume: 2629)* +- ⬜ 110 minutes in: $27.85 / 28,08 € *(volume: 2629)* +- ⬜ 105 minutes in: $27.85 / 28,08 € *(volume: 2629)* +- ⬜ 100 minutes in: $27.85 / 28,08 € *(volume: 2628)* +- 🟥 95 minutes in: $27.85 / 28,08 € *(volume: 2628)* +- 🟩 90 minutes in: $27.89 / 28,11 € *(volume: 2628)* +- ⬜ 85 minutes in: $27.88 / 28,10 € *(volume: 2530)* +- ⬜ 80 minutes in: $27.88 / 28,10 € *(volume: 2463)* +- 🟩 75 minutes in: $27.88 / 28,10 € *(volume: 2463)* +- 🟥 70 minutes in: $27.71 / 27,93 € *(volume: 732)* +- 🟩 65 minutes in: $27.71 / 27,94 € *(volume: 732)* +- 🟥 60 minutes in: $27.68 / 27,90 € *(volume: 354)* +- 🟥 55 minutes in: $27.69 / 27,91 € *(volume: 354)* +- 🟥 50 minutes in: $27.72 / 27,95 € *(volume: 146)* +- 🟩 45 minutes in: $27.72 / 27,95 € *(volume: 138)* +- 🟥 40 minutes in: $27.72 / 27,95 € *(volume: 138)* +- 🟩 35 minutes in: $27.73 / 27,95 € *(volume: 138)* +- 🟩 30 minutes in: $27.72 / 27,94 € *(volume: 137)* +- 🟩 25 minutes in: $27.71 / 27,93 € *(volume: 137)* +- 🟥 20 minutes in: $27.69 / 27,91 € *(volume: 137)* +- 🟩 15 minutes in: $27.70 / 27,92 € *(volume: 36)* +- 🟩 10 minutes in: $27.69 / 27,91 € *(volume: 36)* +- 🟥 5 minutes in: $27.68 / 27,91 € *(volume: 36)* +- 🟩 0 minutes in: $27.69 / 27,91 € *(volume: 36)* +- 🟥 US close price: $27.36 / 27,58 € *($27.49 / 27,71 € after-hours)* + + +*** +FAQ: I'm capturing current price and volume data from German exchanges and converting to USD. Today's euro -> USD conversion ratio is 0.992. I programmed a tool that assists me in fetching this data and updating the post. If you'd like to check current prices directly, you can check [Lang & Schwarz](https://www.ls-tc.de/de/aktie/gamestop-aktie) or [TradeGate](https://www.tradegate.de/orderbuch.php?isin=US36467W1099) + +Diamantenhände isn't simply a thread on Superstonk, it's a community that gathers daily to represent the many corners of this world who love this stock. Many thanks to the originator of the series, DerGurkenraspler, who we wish well. We all love seeing the energy that people represent their varied homelands. Show your flags, share some culture, and unite around GME! +My daughter was just born. I took two weeks off from my restaurant management job. I like the job, it's fun and casual and pays pretty well and allows me unlimited over time. + +But the thing I really dislike is that I don't have vacation days. My boss was cool when I said I would need time off. He found people from his other franchises to come cover my shifts. I had no issue getting time off. + +But fuck. Not getting paid for two weeks is terrible. I like can't afford to not be working. Half of me wants to work a thousand hours this week so my next paycheck isn't garbage since last week I logged 0 hours. But at the same time I want to hang out with my new baby and her mom... Who isn't going to be okay with me leaving her home alone for that amount of time. + +Nothing else to say, I guess. Just venting. +Market will rally: + +https://www.businessinsider.com/stock-market-investing-bottom-rally-inflation-economy-recession-fed-rbc-2022-10 + +https://www.cnbc.com/2022/11/23/the-stock-market-is-poised-for-a-santa-claus-rally-but-not-until-after-the-fed-meets-.html + +https://www.google.com/amp/s/finance.yahoo.com/amphtml/news/stocks-could-see-outsized-rally-123000659.html + +Market will stay flat: +https://www.businessinsider.com/where-to-invest-2023-stock-market-find-returns-goldman-2023-2022-11 + +https://www.google.com/amp/s/fortune.com/2022/11/23/goldman-sachs-stock-market-forecast-holiday-drop-year-no-gains/amp/ + +Market will crash: +https://www.google.com/amp/s/www.cnbc.com/amp/2022/11/29/double-digit-percentage-drop-will-hit-stocks-in-2023-morgan-stanley.html + +https://money.usnews.com/investing/stock-market-news/will-the-stock-market-crash-again-risk-factors-to-watch + +https://www.bloomberg.com/news/articles/2022-11-28/stagflation-will-dominate-in-2023-keeping-us-stocks-in-peril#:~:text=More%20than%20half%20the%20respondents,about%2012%20months%20from%20now. + +So you hopefully can see, it's completely idiotic to come up with a strategy based on what the media says as the opinions are all over the map. + +My strategy for 23 is to ignore the noise, and be confident in building my long positions through a DCA strategy as I am still a long ways from retirement. That way I'll be dripping money in the market the whole year, so that if we are not close to the bottom now, ill still have buying power when things get really "bad" (Aka discounted). Buckle up and enjoy the ride! +My father passed. My mom filled out some forms, provided the death certificate, etc., and it looks like there is a final detail that needs to be addressed. Can anyone explain the differences (pros/cons) of the two options? If it matters, the IRA value is $1.9m, Mom is 82 years old, lives in Texas. + +&#x200B; + +>*Need confirmation of intent to transfer funds into an inherited IRA or assume the IRA as your own.* +> +>*Spouses have the option to assume the funds into their own IRA or establish a beneficiary IRA. Please call us at the number below to confirm how you would like to proceed.* +I like keeping things simple …for financial planning and life. Assuming that I max my 401k , HSA, and Roth IRA (started at 32) and have 1 year emergency fund and have a comfortable mortgage (with low interest rate) that I am paying down… and that I have stable six figure job/career that i like (so no desire/need to retire early) … I don’t see the point of intentionally saving more. Key word intentional since I usually save a bit by accident and throw into index funds. I have already paid off my student loans and car. + +Seems easier to just go on autopilot (and do basics of not spending more than I make) and anything I save is just cherry on top. No desire for kids … and +no desire for luxuries such as expensive cars or anything. I do like to travel but most my trips per year still end up covered by my annual bonus. + +anything I am missing.. would you do anything different in my shoes and if so why? What would you be saving for if you were in my shoes had no desire to retire early or have kids? + +Just looking for 3rd party opinions so I feel more comfortable telling my wife (she has own seperate funds/job and I just pay mortgage while she handles groceries) why it’s not so important for me to plan/budget or be too concerned about spending most my annual bonus on travel etc. I think she is trained to think we all should perpetually save more and I don’t see the point of intentionally doing it for my situation where I have 1 yr emergency fund and maxing out 401k+ Roth Ira with no desire to retire early. + +Edit : I make $180k in Philly area and feel that even if I get laid off I should be able to get comparable job since I do spend effort making sure my resume/skills are highly competitive for my industry which is big pharma (and feel confident if I have to go to new industry that my educational pedigree, network, and career experiences should get me good six figure job). +Disclaimer: I'm relatively new to crypto, only getting into it around October/November of 2020. I was too young to get into it in 2009, 2013 or 2017. But ever since I learned about dollar cost averaging, my life has profoundly changed. I had worked different jobs before, sometimes part time, sometimes full time, but last October I started a new job and with the money I earned from that I was able to invest in crypto. + +I realised today that not only has this money that I invested in BTC, ETH and then a few of the more dominant altcoins led to profits from me [albeit as of yet unrealised], but the money that I have dollar cost averaged this entire time, almost six months ago, is money that, prior to getting into cryptocurrency, when I was working other jobs and stuff, I would have simply spent on alcohol or clothes or whatever. For the first time in my life, this is the most money I have ever had to my name. And don't get me wrong, it's not a lot of money by most standards, but it's life changing or me to be able to see that discipline and restraint can lead to a fund that I can fall back on. Not only is crypto an investment for me, but it's also causing me to save money I would otherwise spend, and is making me more financially secure because of it. + +Just wondering if any of you have experienced the same thing? +While the minimum wage sets an earnings threshold under which our society is unwilling to let families slip, it fails to approximate the basic expenses of families in 2021. Consequently, many working adults must seek public assistance and/or hold multiple jobs to afford to feed, clothe, house, and provide medical care for themselves and their families. + + +Establishing a living wage and an approximate income needed to meet a family’s basic needs would enable the working poor to achieve financial independence while maintaining housing and food security. When coupled with lowered expenses for childcare and housing, the living wage might also free up resources for savings, investment, and the purchase of capital assets (e.g., provisions for retirement or home purchases) that build wealth and ensure long-term financial stability and security. + +An analysis of the living wage (as calculated in December 2021 and reflecting a compensation being offered to an individual in 2022), compiling geographically specific expenditure data for food, childcare, health care, housing, transportation, and other necessities, finds that: The living wage in the United States is $24.16 per hour, or $100,498.60 per year in 2021, before taxes for a family of four (two working adults, two children), compared to $21.54, or $89,605.51 in 2020. + +The minimum wage does not provide a living wage for most American families. A typical family of four (two working adults, two children) needs to work more than two full-time minimum-wage jobs (a 98-hour work week per working adult) to earn a living wage. Single-parent families need to work almost twice as hard as families with two working adults to make a living wage. A single mother with two children earning the federal minimum wage of $7.25 per hour needs to work 235 hours per week, the equivalent of almost six full-time minimum-wage jobs, to make a living wage. + Across all family sizes, the living wage exceeds the poverty threshold, often used to identify needs. State minimum wages provide for only a portion of the living wage. For two adult, two children families, the minimum wage covers 59.8% of the living wage at best in Washington and 29.9% at worst in Wisconsin. This means that families earning between the poverty threshold ($26,500 for two working adults, two children on average in 2021) and the living wage ($100,989 on average for two working adults, two children per year before taxes) may fall short of the income and assistance they require to meet their basic needs. + +[Link to full report](https://livingwage.mit.edu/articles/99-a-calculation-of-the-living-wage) +This is a list of things I've done over the years to stay warm in a very cold house. Most of these can be done easily and can help cut your heating bill. Hopefully these can help some of you folks! + +1. If your bed is not warm enough lay a puffy blanket or towel underneath you. Many mattresses are hollow and aren't that good at insulating heat from the body so you might find relief in laying on top of some blankets. +2. Also keep your feet warm. If your feet are cold they'll keep the rest of your body cold. + +&#x200B; + +3. Put socks on your hands to keep them warm. cut holes in an old pair to keep using your fingers. + +&#x200B; + +4. Stay bundled up at home, if you don't do that already. + +&#x200B; + +5. Tight clothing won't keep you warm alone. Baggy clothes with tight ends like sweatpants will. A major part of sweatpants ability to keep you warm comes from the pocket of warm air your body creates inside of the pants. + +&#x200B; + +6. If you use an oven at any point, leave it cracked open after you turn it off. The heat from the oven will help warm you up a little. EDIT: To clarify, turn the oven off BEFORE leaving open. + +&#x200B; + +7. Keep the blinds and curtains open during the day to get some of that free solar warmth. + +&#x200B; + +8. Snuggle up with an animal if you have one. Its warm and lets be honest, we all love it. + +&#x200B; + +9. If the blanket you are underneath is cold to the touch, you need another blanket on top. + +&#x200B; + +10. Close the doors to rooms you don't use and especially the doors to whatever room you are in. With all the doors open there's going to be tons of air circulation which is bad for you if you don't have generous heating. It's the same concept as sleeping in a sleeping bag vs sleeping in a small room. + +&#x200B; + +11. If you use a laptop or computer regularly, consider moving it to your bedroom. The title bit of heat it creates might help keep your hands warm. (I let the exhaust from my computer blown under the sheets if I'm cold enough. + +&#x200B; + +12. Warm up by doing push ups are something to really feel the burn. Squats, butterfly kicks, and running in place are good examples. + +&#x200B; + +13. If you do have the heat on, be sure to close up the vents in other rooms you don't use. Theres no sense in heating rooms you don't use. + +14. If you're dating someone and trying to find a reason to suggest spending the night with them, a text saying something along the lines of " It's going to be cold tonight. You aren't going to freeze without me are you?" is a great way to sleep next to someone warm. + +Thats all I have time to write for now. If I think of anything else I'll add it in edits. Please comment any suggestions you guys have. + +EDIT: I've gotten a ton of great responses that I'll be adding as soon as I finish the quiz I forgot to do for a class. + +EDIT 2: Finished my quiz with 13 seconds to spare on the last attempt with a 100% so that was fun. ANYWAYS, I'm going to add these all in he order I read them and I'll try to link each suggestion to its respective user. + +&#x200B; + +15. u/cmerksmirk says to keep your heat on enough to keep your pipes from freezing. To add to that, open cabinets with pipes in them to help prevent freezing, and if they lack insulation inside or outside, put a pool noodle around them, if you can find a pool noodle this time of year. It's cheaper and has more uses. u/virgosdoitbetter suggests you keep your home above 55 degrees to keep pipes from freezing. + +&#x200B; + +16. u/cirmcalli gives a great suggestion of just a big fluffy blanket. You can get them cheap at Walmart and they're usually hella soft which is an added bonus. All around great investment. If you burrito yourself in it then get under the covers you'll never be cold again. + +&#x200B; + +17. u/sjh1985 says to heat up a bottle of water to stay warm. I suggest doing this with the cap off unless you want to really humidify your microwave. Also be careful not to burn yourself! u/Justanothergamerwife also mentions to use (I prefer this method) a long sock, fill it with cheap rice (or dried beans), and microwave it foursome amount of time. I don't give specifics because it varies. 30 seconds usually gets it warm but its up to you. Again be careful not to burn yourself. This trick also works great to relieve muscle pain for next to no cost. Another great perk of this idea is that you never have to throw it away so long as you keep it dry. A few users said to put some flavored tea in there with the rice to get a nice smell. + +&#x200B; + +18. u/cheftard hits us with a few suggestions. The first is to bring your next days clothes into bed with you to make getting out of bed the next day a lot easier. Its also extra insulation so that's cool. The second suggestion is is to keep your bed away from exterior walls as hey are thermal weak points. The third is to cover bedroom windows with a plastic sheet or blankets to put another pocket of air between you and Jack Frost as well as reducing those cold drafts nipping at your toes. This idea was also suggested by u/superkp u/bradyhaha u/lakija u/doggoneithavok so thanks to you guys as well! Many more redactors commented on this thread mentioning you can use anything from painters plastic to. + +&#x200B; + +19. u/meowwwit says to have your ceiling fan rotate clockwise. What I think this Redditor means is to have the fan push air up(?) to help get the warm air on the ceiling to come down into the room. I know this one works for sure but I can't tell you the specifics on the fan because I am not a fan expert. Thanks for the tip anyways! + +&#x200B; + +I HAVE MUCH MORE TO WRITE BUT I HAVE TO LEAVE WORK NO AND START MY STREAM SO I'LL GET BACK TO THIS AS SOON AS I CAN. THANKS SO MUCH EVERYONE WHO COMMENTED! KEPP THEM COMING! +I don't know if this is the right place to post this. Went to r/insurance but it seems that the posts are only about car insurance topics. Scroll to the bottom for a TL;DR + +For context, I have an inflammatory bowel disease called Ulcerative Colitis and for the past 9 months I have been in absolute misery. Doctors have given me many different meds that haven't helped and I ended up in the hospital for about 4 days a couple weeks ago. I was discharged with some steroids that are no longer working (surprise, surprise). + +I have been in contact with my doctor and health insurance company back and forth for almost 3 weeks trying to get updates on the status of the claim for the medicine (prior authorization requested by doctor) only to find out yesterday when I called the insurance that they are denying me the medication (Humira), because I haven't tried drugs X, Y, and fucking Z. I have tried 7 different medications and none of them have worked and the insurance still has the audacity to dictate what I need for MY health. + +They told me I can appeal and have my doctor appeal on my behalf and that it usually takes 30-45 days. I absolutely cannot wait another 30 days. In the meantime I am going to have to try some other med that likely won't work because my condition is too severe. The out of pocket cost for the drug without using insurance is around $7000 and so there is no way I can do that. It's a biologic medicine where I would have to inject myself, which is why I really need it. It's an aggressive medicine that likely will work. + +I'm posting this because I am very desperate. Are there any tricks or is there any hidden information/loopholes that I can take advantage of in order to expedite this appeal process? How can I fight this with the insurance without having to wait a whole extra month? Or am I just SOL? Thanks for reading. + + +TL;DR My insurance denied me a medication that I desperately need because I haven't tried certain other medications yet. Appeal process takes 30-45 days with no guarantee the scumbags with the insurance company will change their minds. Is there anything at all I can do to expedite this and find a quicker resolve? + +Edit: I am getting a lot of notifications that people are replying to this post, but I'm not seeing most of them. Only a select few for some reason. I'm not that savvy when it comes to reddit, so I'm trying to figure out why it shows I have 10+ comments but am only seeing like 3-4 on my post. Sorry guys. + +Edit 2: This post is getting a lot more attention than I anticipated. I am reading all of your comments, I promise! I just can't reply to all of them right now, but I see them and I am PROFOUNDLY appreciative of everyone who has commented providing me advice and words of encouragement. Thank you all so much + +Edit 3: Grammar and spelling. +As the title states, I decided to move some retirement and non-retirement accounts away from an adviser and to a firm where I can self manage. One retirement account was 100% bonds and after I advised them I was moving it took four weeks to get the accounts moved and during this period I now noticed there were four sell/buy transactions (so effectively 8 transactions) and my gut is telling me they were swapping some 'good' bonds for possibly 'not so great' bonds that maybe they were holding for other customers they have. Any ideas of how to prove this out (a 3rd party?) and where to take it (i.e. FINRA)? Thanks!! + +Edit #2: Thanks all and based on the input I have an action plan: + +a) Ask them for a written response on why these trades were made - how did they benefit me. + +b) Have an expert review (I think I have someone who would spend 15 minutes reviewing). + +c) Unless, like a few commented, there were some real garbage given to me to replace more highly rated bonds, just take it in the gut and move on. + +d) But if an expert tells me they smell a rat and they don't have a fair explanation, I may take it further with FINRA. + +Edit #1: Sorry I stepped into a class so I’m away for a few hours.I believe it may have not been in my best interest based on a cursory review of the yields and the quality of the corporations.They are a fiduciary.Definitely not rushing to report them just thought I could get some input. Will answer specifics in a bit. Thank you in advance for your comments. +Market tanked, lots of red. What did you do? Lessons learned? Especially interested in people that held through or bought the mega dip. + +Wish I would've put a bunch in right after the crash but I was in college. +I went and saw a bookkeeper for the first time, I was under the impression it was a free consult, but ended up being charged 2hrs for the 90 minute session. Red flag I guess, but I was keen to get it sorted out. + +We had a verbal agreement that she would do my books, and I asked her to inform me if it would take more than half a day to complete before going forward with more hours. I told her I needed to know this so I could budget and review the work and we could discuss an ETA to complete the review to make sure it was affordable. + +I finally got the invoice today, and she has charged me for over 20hrs. And the worst thing is my accounts/bookkeeping is still an absolute mess, nothing is in the right place and none of the balances match and she never contacted me to inform me it was going to take this long. She did 4hrs of work on 5 separate days, so it's not like there wasn't an opportunity to let me know. + +Do I really have to pay this invoice? I really wanted a chance to review the work after the first 4 hours, and now I have 20hrs of work that is a mess and will take a long time to fix. It feels like I'm throwing my money in a pit and burning it. + +At this point it's looking like it will be easier to start again from scratch on Xero, I cannot express how poorly the job was done. Even basic things like Subscriptions which I had setup correctly are now incorrectly reported and reconciled to wrong transactions. +There's a lot to cover, so here goes my smooth-brained edition for what is unfolding right now. + +As many have noticed today, there was widespread gLiTchEs on multiple crypto exchanges across multiple networks and platforms. Here's a screenshot: + +&#x200B; + +[Coinmarket cap, one of many to report glitches](https://preview.redd.it/1sd7rdwy9m581.jpg?width=2770&format=pjpg&auto=webp&s=4004e683740eb2d4edc3d6998f9cea18aced81f8) + +# One would ask, how is this even possible? + +Perhaps the same reason why a bunch of "meme stonks" correlate together without regard for market cap sizes, different industries, and float size. Yet, the most plausible explanation for these meme stonks was detailed in the [SEC report (pg. 21)](https://www.sec.gov/files/staff-report-equity-options-market-struction-conditions-early-2021.pdf) for being **highly shorted** and tied to one particular idiosyncratic stock like Gamestop. + +&#x200B; + +[https:\/\/www.sec.gov\/files\/staff-report-equity-options-market-struction-conditions-early-2021.pdf](https://preview.redd.it/r45et60e4m581.png?width=1046&format=png&auto=webp&s=e0ce48af338235e474d36696330f51e3760d3ee1) + +# So how is crypto related to stocks? + +Through Digital Currency Group which is owned by shorting hedge funds (SHFs) that have their money tied up from betting against Gamestop. + +Check out this amazing due diligence, "[exposing crypto](https://www.reddit.com/r/Superstonk/comments/op4ilt/exposing_the_crypto_manipulation_digital_currency/)" by [u/natep001001](https://www.reddit.com/user/natep001001/) with TLDR: + +>DCG is essentially a prime broker, hedge fund, crypto news/ media outlet and crypto trust/ ETF exchange. While also providing crypto wallets, a retail transaction platform, and mining/ Staking infrastructure. **They have/ are building a monopoly over the crypto markets.** They work with institutions, hedge funds, and market makers to lend and borrow crypto as a source of "**alternative liquidity for hedging**" on OTC markets. They have major connections to the US government, NASDAQ, World banks, any many hedge funds that we already know are short on capital due to "meme stocks". These fuckers basically have their hand in every sector of the crypto market and are centralizing it by using crypto as a source of liquidity and hedging for stock market based positions. + +Here's a nice visual mapping of the SHFs and their monopoly of crypto networks: + +[Take note of HSBC, top left corner](https://preview.redd.it/ob3zgc15bm581.png?width=700&format=png&auto=webp&s=0d6c9efa50b23c2b1491fabfa6b8c75683bae9ab) + +Now that you see where the flow of money is going, where else does it lead? + +# Evergrande: SHFs and Tether using Chinese-commercial papers + +SHFs use Evergrande, Chinese commercial papers as assets for collateral and when these assets go to ZERO from being downrated to default by the agencies: Fitch, Moodys, and S&P then SHFs will panic sell crypto to maintain their shorting positions (or have they already started?). + +[https:\/\/www.cnbc.com\/2021\/12\/10\/evergrande-slides-into-default-while-some-ratings-agencies-keep-quiet.html](https://preview.redd.it/5nruyb9uem581.png?width=1349&format=png&auto=webp&s=46e798fb0f3831409dfe49072d627d424bb26581) + +Here's that Bloomberg terminal screenshot revealing the Evergrande bagholders: + +[Hi HSBC, #1 bagholder of Evergrande](https://preview.redd.it/8f0f8k9mbm581.png?width=824&format=png&auto=webp&s=48673126f4843c0cb2c92242b77b5337156c0bf9) + +# So wut mean? + +To put it into perspective, since Evergrande ($300 Billion) began moving towards bankruptcy: starting with insolvency processing, agencies downrating, and lastly liquidation event. It is putting downward pressure on SHFs collateral assets. + +Collateral that SHFs must put up to maintain their many, many short positions and particularly Gamestop, the most highly shorted stock -- "far exceeding other meme stocks" -- according to SEC. + +So with all the gLiTcHeS seen today on the crypto side, it's no surprise shit has already hit the fan. + +# Okay, but where does Tether fit into this? + +Tether ($76 Billion market cap) is used as a "stable coin" to buy Bitcoin and process other coin transactions. It is a medium and it is screwed because it has no actual backing. From u/Door_Public and his DD ["Tether Nuclear Bomb,"](https://www.reddit.com/r/Superstonk/comments/qr7cow/tether_the_nuclear_bomb_that_hides_the_chinese/) here's a visual to show how Tether is smack-dab in the middle of everything related to crypto: + +[Tether coin, USDT is reponsible for 60&#37; of BTC transactions, yikes -- the crypto downfall will be insane, with so many buying crypto on 100x margin](https://preview.redd.it/zrj59kxawm581.png?width=471&format=png&auto=webp&s=f4f64969559c74b9bc676259502f2285e1338dd1) + +In the first week of December 2021 sell-offs, crypto liquidation from margin calls exceeded $2.6 Billion within 24 hours, and there is still more to come: + +[https:\/\/www.coinglass.com\/LiquidationData](https://preview.redd.it/9rp413443n581.jpg?width=1055&format=pjpg&auto=webp&s=1c3ce1bf80046224cf4d4881ae8707aef81e525c) + +Tether claims to have reserves to back its coin but discovery has shown that there is no proof. Plus, there's even a $1 million bounty for anyone that can provide evidence that backing exists. + +&#x200B; + +[https:\/\/hindenburgresearch.com\/tether\/](https://preview.redd.it/s5bh3ae0gm581.png?width=930&format=png&auto=webp&s=fc193cc70d3c788d6bf2fe7391bbc50594bac06b) + +Furthermore, Tether claims to have real estate commercial paper assets to back it, but denies it is with Chinese Evergrande (trust me bro). In desperation, here's what they have to say: + +[https:\/\/twitter.com\/Tether\_to\/status\/1466755823149924358](https://preview.redd.it/yra7ldnvgm581.jpg?width=1080&format=pjpg&auto=webp&s=622108fbcb2ed87ed50a98a03ec2d3e9729a2f49) + +Where does this all end up? Back to one person and his cronies that started it all. + +# Enter Pandora's Trap: "E.T.", Ceiling Boxed, & DRS: + +# The Walls Are Closing In + +(E) Evergrande $300 Billion and (T) Tether $76 Billion, combined these two will wreck havoc on SHFs asset portfolio and decimate their collateral, forming walls that are closing in on when all rating agencies downgrade Evergrande to official "default" rating. + +Essentially, downrating will Thanos snap crypto and commercial papers out of existence which likely explains why Moodys and S&P have not downrated, yet. + +Hence, all the crazy shorting that is happening with Gamestop right now. + +They have no choice. + +Time is not on their side. + +# The Ceiling Boxed + +They need to drive the price down with puts, a dangerous game, creating the [Delta spike hypothesis](https://www.reddit.com/r/Superstonk/comments/rd0fcl/large_gme_delta_sensitivity_spike_ever_happening/) for potentially massive green upside that [u/yelyah2](https://www.reddit.com/user/yelyah2/) has pointed out. TLDR: + +>Conditions are primed right now for a significant increase in hedgie buying power. The delta sensitivity test spike is a harbinger of change, and more often then not... significant price increases.... + +Next, I defer to u/thabat in his latest DD by calling it "[Ceiling Boxed](https://www.reddit.com/r/Superstonk/comments/r0sji0/ceiling_boxed_the_moass_is_upon_us_for_real/)" because the pressure of maintaining so many short positions on meme stonks is falling down upon them from the top. + +# The Rising Floor + +And lastly, the impact of DRS is playing a major role in this and all you beautiful, diamond handed apes are the reason for it. Thank you -- because **EVERY SINGLE SHARE MATTERS.** + +It raises the FLOOR to close in on SHFs, removes available shares from the float, and puts an end to this ponzi scheme called Wall Street. An elaborate scheme designed to steal the American Dream and rob everyday people of happiness through low wages, debt-ridden life, and poverty. + +A visual to illustrate a SHF's pain: + +[Pandora's Trap: made possible by Kenny Griffin, CEO of Citadel with Steve Cohen Point72, Melvin Capital, Susquehanna, State Street, Fidelity, BlackRock and many more colluding hedge funds & Prime Brokers JPM, Bank of America, Wells Fargo, and more](https://preview.redd.it/bv1zuzqeum581.jpg?width=1500&format=pjpg&auto=webp&s=c30f7df35b71ad9c5f2270e9ce3039c518fdf4cb) + +There is only one option to hasten the effects.. + +[Hey, Listen! Only you can end this.](https://preview.redd.it/pmn61oznym581.jpg?width=687&format=pjpg&auto=webp&s=94f0a96954751702f76a3e5fb9ee582e1fcd14a7) + +# DRS TO CHANGE THE GAME. + +# POWER TO THE PLAYERS. + +💎🙌🚀 + +Not financial advice. + +tldr: hedgies running out of time, options (lol), and getting boxed in for implosion by Evergrande & Tether, Meme stonk short positions, but most importantly DRS impact. + +The walls are closing on every side. We're in that part of the Big Short movie where the rating agencies have not put the label default on Evergrande so chinese commercial papers are still propping up collateral for SHFs which in turn are being used to maintain short positions on Gamestop. But soon, GameStop. + +Edit: u/dangshnizzle pointed out two missing sides on Pandora's Trap, so let's imagine the front and back as the stock market and crypto market, when it all begins to collapse. Truly a vicious trap that SHFs have found themselves in 🚀🚀🚀 +I figured I would share my story, as I have been a long time lurker but have made some progress in regards to my financial situation. About a year and a half a go my girlfriend and I moved across the country for better jobs. She had at the time $55,000 in student debt,and a car loan making $20/hr. I was making $15/hr with around $3000 in CC debt and my car paid off worth about $3000. We were living pay cheque to pay cheque for sure, not saving anything, worried to turn the heat on. + +She got a job offer $30/hr, full benefits, and unionized. After we talked it over we decided to go for it. I did not have a job lined up and ended up working in a restaurant making $13/hr for too long. We moved out in fall and my initial plan for work fell through. As time went on with moving expenses and not making enough money I ended up with $15000 in debt. I had to get a new car, got a loan for $3500 from the bank and got my trucking licence which set me back another $2600. + +I ended up getting a good job making $26/hr working for an environmental service company. Anyways I feel like I am rambling on here. Over the first 6 months of that job I paid off all of my CC debt around $10000 and helped my GF finish off one of her bank loans by giving her $5000. I know have $3800 in my checking account and $1050 in my TFSA. I still have my car loan from the bank sitting at $3200 and have only paid $156 in interest over the first 6 months. I figured I would just keep paying my monthly payments $75 and give myself some time to save up my emergency fund. + +I guess I have some questions slash am looking for advice if anyone see's this as I have never been in a situation where I can actually save money. My plan is to Set up my emergency fund in my checking account for know. I will be eligible for my companies RRSP plan come july, and they match %50 up to %3. So I plan on maxing out their match contribution. Anything else I plan on putting in my TFSA. + +Ya this has been on my chest for awhile and I just feel pretty happy with myself for clearing off $15000 in 6 months. If anyone does see this, I did some calculations and will make $60000 after taxes with overtime this year. I made $33000 after taxes in the first 6 months with the company. My monthly expenses total up to right around $1500. + +Edit 1: I had some beers last night and failed to mention some important information. 2 months prior to getting my current job I made 10k helping a farmer seed. I lost a lot to taxes as I made 7k in one month. I was then out of work for another month before I found current job. + +Edit 2: I would just like to thank everyone for their advice I have learnt a lot from this community. + + +This post is about a super solid gem which has been in development for last 4 yrs. + +It is the 1st true Interoperability project without any validators. This is DEFI BEYOND ETH. Imagine being able to exchange your $BTC for $ETH without going through any wrapping service or CEX. + +They have their own dex called ‘Interchange’ which is secured by proof-of-distance multi chain mining. But the token has been listed on uniswap already by the community. + +They have a two token ecosystem: + +OL (overline): can only be mined and traded on Interchange, trading @ Interchange for $1.1 + +EMB (emblem): miners can receive upto 6x more reward if they hold EMB in their wallet, plus EMB governs the ecosystem (100mil circulating supply), and EMB can be leased out to miners for a rental income; fair value calculation says EMB price should be easily around 6x or more compared to OL price = $6.6 + +But EMB trading for $0.5 now. This is a solid opportunity I my opinion. + +Note this: it is much superior technology than DOT or COSMOS (in terms of Interoperability). And super cheap right now. + +Mcap: +$DOT: $24.5bil +$ATOM: $4.3bil +$EMB: $32mil + +Website: https://overline.network + +Dextools: https://www.dextools.io/app/uniswap/pair-explorer/0x40902c98b878471d1e50a846b016525bc8bef836 + +(Trending #5 now) + +PS: CEO (Patrick) featured on Forbes last week. Tyler Winklevoss tweeted the CEO last week too +Tweet here: https://twitter.com/tyler/status/1357099989185531905?s=21 + + + + +Disclaimer: I am not a member of the team. I am an ardent supporter of good tech, and this project wins me over in that aspect. I am very well aware of the stiff technical challenges this team has been solving over the last 4 years. Kudos. +Details: I started a role in a large fortune 500 firm making $68,000 just one year out of undergrad. My current manager has mentioned "I didn't make what you're making until I was 35 years old" on several occasions. He continually mentions this and it has created an uncomfortable work environment, but nothing I'd ever mention to HR. My manager tends to make fun at people's abilities and undermines their decision making continually. I've recently slowed down my contributions to the team because anytime I speak up with an idea, it's immediately shot down. Most of the work has slowed down and others have also stopped contributing. We're a large company, I have a wide variety of skills, so I'm not worried about the ability to move to a different role. I was just offered a large increase in pay to go to another company. + +The jobs are much different. The job I'm being offered is $80,000 vs the $68,000 I make today, I will get 15 days off instead of 21 a year, the bonus is 6% of salary vs the 3% of salary I make today. I am fearful of the work life balance and if I'll be able to handle the work load. The new company also offered me $5,000 as a signing bonus but "could work on that if I needed a little more convincing". My biggest fear is that my current employer knows the company/manager that has interviewed me and vice versa. They were former partners in a business exchange. I'm fearful of the effect this could have on my career and if it will tarnish my reputation (only 8 months in at my current role). The new company is also quite a bit smaller (less than 100 employees) vs my current company (20k +). They make much less money a year than my current company, so this has me a bit scared for my position. The new company also said I will have 5 reports to me, some consisting of Harvard graduates and other Ivy league programs. This is the most exciting part to me. I've only led a small team once before, and I'm only 2 years out of college, but have really made a name for myself in my field. Any advice is helpful! + +My question is this; which things should I also be considering? + +note: both jobs are the same distance from my home and I will owe back relocation expenses to current company ($3000-$4,000). + +My other fear is that I've had 3 positions in just 2 years after graduating. +5 months at one, 10 at another, and 10 months here. + +Another edit: New company gave me a start date of early Jan, no negotiation here. It's for good reason in my opinion. To get me acclimated before my new hires come in at May. + +Thank you in advance! + +Edit: Wow so I guess my boss really sucks. Thank you all for the great advice. I’ve kind of just put up with the behavior as normal. The $68,000 he made at 35 would be equivalent to $96,000 in today’s dollars. He clearly doesn’t understand inflation. Either way, you guys are right about ageism. He clearly thinks in terms of age and not basic economic principles. +A massive scam is happening that is causing people to lose thousands of dollars in a matter of minutes. It goes like this: + +\-You get a call from your bank's number + +\-You're informed of a suspicious transaction and possible online banking takeover + +\-You're asked to reveal your online banking username + +\-You're asked to reveal a temporary passcode sent to your phone + +\-Fraudster logs into your online banking and steals money via your bank's peer-to-peer system (ie Zelle) + +&#x200B; + +The frustrating part about this scam is how effective it is. I work at a bank and I helped 3 people with this scam the past week. And it's been going on for months. + +Banks are trying to educate customers about this fraud, such as issuing a temp password with a warning that says to never share information with anyone, even a bank employee. Unfortunately, customer education and awareness takes time and can be ineffective in the heat of the scam. Customers affected say to me "I can't believe I read them my passcode when the message said not to share it with anyone!" + +Bankers, IT pros, and community, what are some ideas to fight this scam? How can we prevent bank customers from sharing their temp login code? Fintech pros, how can apps like Zelle help fight unauthorized P2P transactions? + +&#x200B; + +EDIT: Great feedback from community. Amendment to headline is to "hang up immediately and call your bank from a different phone if possible." +I am early 30’s in a LCOL area of Australia where there is not a lot of wealth. + +I earn 7 figures a year, and have done so for the last 5-6 years. I look pretty unassuming. + +Some things I want the best of. + +Health and sporting equipment usually fall in this category. + +I will often have the experience where a shop attendant or service provider will be showing me the cheapest options, based on my appearance. + +How do you say “I want the best money can buy” or “what would you get if money was no object”. Without sounding like a wanker. + +Or should I just buy a Rolex. + +An example was i wanted a set of scales that also showed body fat percentage. The shop attendant basically refused to show me them say “they are over $300 no one has ever bought them”. I ended up buying them, it was super awkward. They guy just couldn’t comprehend me spending that on bathroom scale. + +Any ideas? Or strategies? +At this point, I use business class exclusively for travel, but still appreciate value. + +Are there any recommended discount business class travel companies that you use regularly for US -> Europe Trips? I typically book a week or two in advance, so was hoping that there might be a few companies that focus on this space that I should consider. +[The Market for Lemons](http://www.iei.liu.se/nek/730g83/artiklar/1.328833/AkerlofMarketforLemons.pdf). + +This week's article was nominated by /u/Dirk_McAwesome + +> It barely needs introduction ([it even has its own wikipedia page!](http://en.wikipedia.org/wiki/The_Market_for_Lemons)) but I think it's a very good fit for this subreddit. The paper's conclusions are understandable but counterintuitive to somebody who hasn't read the paper. + +> Information asymmetry is something which I've heard economists accused of ignoring so I'm sure it will lead to a good discussion. + +*** + +Articles of the Weeks for May 2014: + +5/18 - Moral Hazard vs. Liquidity and Optimal Unemployment Insurance (Chetty) + +5/25 - Escaping a Liquidity Trap (Svensson) +As someone who's moved houses a significant amount of times in the past years, and is due one next month, I just wanna say this is amazing news! Budgeting for moving house reached preposterous levels with all the fees associated with it: Deposit (6 weeks rent) + Immediate fees (we've averaged 350 per tenancy) + removal cost (some of the quotes are just off the charts, the lastest we got was 600 for a 2-bed small house. This time we're hiring a minivan + gas and it's not even close to being 100 pounds) + +All in all, delightful news. More details in the article below. +https://www.moneysavingexpert.com/news/2019/01/letting-fees-to-be-banned-from-june/ +Basically what the question says. Wife and I are moving soon but only plan on living in that area for 3-4 years before moving to somewhere with better job opportunities/somewhere we would want to start a family. We feel that 3-4 years isn’t a long enough time to be somewhere and buy a house. Are we wrong thinking this way? + + +Edit: thanks to everyone who took the time to respond, y’all all have given us many things to consider as we attempt to make this decision and have been a great help. Also, anyone who is in a similar situation, spend some time reading through the comments, I think it will help you a lot too! +In February 2018 I lost my retail job due to restructuring of the company. Shortly after, I found out that a. I'm losing my vision and b. I'm already severely visually impaired, legally blind. + +Since then, I've applied for tens of jobs per month, and had no success. Due to my vision, I can't drive, and I don't live in an area with a useful transit system. + +My fiance supports both of us on his salary, which definitely isn't enough that he can comfortably support me, but it is *just* too much for us to qualify for income assistance. Due to a medical professional shortage, we've had no luck in seeking out dusability benefits. + +I'm looking for any type of suggestions you can provide. We are already very frugal, we cook all our own meals, we don't eat meat or expensive processed foods, we walk anywhere that permits, we don't have Netflix, we buy used and upcycle everything we can. + +If you have any career ideas, ideas for affordable education options, any way to save or earn a bit extra, I would really appreciate it. +Guten Morgen to this global band of Apes! 👋🦍 + +With the weekend launch of the GameStop Wallet, one of the final pieces is in place for GameStop to roll out their full NFT marketplace. I am incredibly excited about the potential that this has to bring a huge number of people into Web3, through a trusted source such as GameStop. With L2 fees being so low, there is a low-barrier entrance and a huge world of possibilities. Of course, the most important part is to create a compelling and trustworthy path forward, and that is where the team that Ryan Cohen has assembled comes in. They have partnered with established experts across the space, working closely to ensure that when this launches it will be the perfect foundation for the future offerings. + +Meanwhile, Ken Griffin has been furiously trying to spin a narrative in which we are responsible for the losses that Melvin Capital incurred with their investors' money. He is quick to gloss over the exorbitant fees that Melvin collected while taking enormous risks. Risks that eventually led to Melvin's spectacular downfall. Ken doesn't want that to be seen as the cause, since that is exactly the same thing that he has done with his clients' money. Citadel and the other Institutional Shorts took out enormously risky positions against GameStop, because they were *certain* that (in partnership with a complicit Board of Directors and BCG) they could drive GameStop into bankruptcy and profit from the downfall of another company. They have collected fees all the while, and the day of reckoning is fast approaching. Their investors will never be whole, and it will be the downfall of the SHFs. Kenneth Griffin is desperate to have his investors blame anyone but him. + +Today is Monday, May 23rd, and you know what that means! Join other apes around the world to watch infrequent updates from the German markets! + +###🚀 Buckle Up! 🚀 +*** + + +- 🟩 120 minutes in: **$98.10 / 92,75 €** *(volume: 1965)* +- 🟥 115 minutes in: $97.68 / 92,35 € *(volume: 1909)* +- ⬜ 110 minutes in: $98.11 / 92,76 € *(volume: 1747)* +- 🟩 105 minutes in: $98.11 / 92,76 € *(volume: 1747)* +- ⬜ 100 minutes in: $98.11 / 92,76 € *(volume: 1713)* +- ⬜ 95 minutes in: $98.11 / 92,76 € *(volume: 1702)* +- 🟩 90 minutes in: $98.11 / 92,76 € *(volume: 1702)* +- ⬜ 85 minutes in: $98.11 / 92,75 € *(volume: 1656)* +- 🟩 80 minutes in: $98.11 / 92,75 € *(volume: 1641)* +- 🟥 75 minutes in: $98.07 / 92,72 € *(volume: 1600)* +- 🟩 70 minutes in: $98.19 / 92,83 € *(volume: 1501)* +- 🟩 65 minutes in: $98.11 / 92,76 € *(volume: 1353)* +- ⬜ 60 minutes in: $98.11 / 92,76 € *(volume: 1338)* +- 🟥 55 minutes in: $98.11 / 92,76 € *(volume: 1329)* +- ⬜ 50 minutes in: $98.11 / 92,76 € *(volume: 1258)* +- 🟩 45 minutes in: $98.11 / 92,76 € *(volume: 1246)* +- ⬜ 40 minutes in: $98.11 / 92,76 € *(volume: 1245)* +- ⬜ 35 minutes in: $98.11 / 92,76 € *(volume: 1226)* +- 🟩 30 minutes in: $98.11 / 92,76 € *(volume: 1193)* +- 🟩 25 minutes in: $97.85 / 92,51 € *(volume: 1179)* +- 🟩 20 minutes in: $97.85 / 92,51 € *(volume: 1178)* +- 🟥 15 minutes in: $96.48 / 91,21 € *(volume: 734)* +- 🟩 10 minutes in: $97.00 / 91,70 € *(volume: 428)* +- 🟩 5 minutes in: $95.49 / 90,28 € *(volume: 266)* +- 🟥 0 minutes in: $95.49 / 90,28 € *(volume: 166)* +- 🟥 US close price: $95.66 / 90,44 € *($95.34 / 90,14 € after-hours)* + + +*** +FAQ: I'm capturing current price and volume data from German exchanges and converting to USD. Today's euro -> USD conversion ratio is 1.0577. I programmed a tool that assists me in fetching this data and updating the post. If you'd like to check current prices directly, you can check [Lang & Schwarz](https://www.ls-tc.de/de/aktie/gamestop-aktie) or [TradeGate](https://www.tradegate.de/orderbuch.php?isin=US36467W1099) + +Diamantenhände isn't simply a thread on Superstonk, it's a community that gathers daily to represent the many corners of this world who love this stock. Many thanks to the originator of the series, DerGurkenraspler, who we wish well. We all love seeing the energy that people represent their varied homelands. Show your flags, share some culture, and unite around GME! +Hi all, I'm thinking of making a big purchase (around 30k for my cousin's car) in the next few days and was going to transfer GBP to EUR. This is my first time thinking about currency outside of Sterling. I'm worried that the GBP will continue to weaken if I wait too long and wondering if you could ask me a question about which service would be best for me to pay him? + +Barclays offered me a pretty high rate when I checked against the internet rate. A friend of mine recommended I use Revolut, but I'm not sure I trust them with that much money. Can anyone who's used them recently tell me if they're reliable for larger transfers these days? + +Edit: Thanks for everyone's excellent input. Just to give an update for anyone finding this thread later, I did a few things based on the advice below: Checked Monito and Wise's price comparison pages, looked at Fineco, and decided to give [Atlantic.Money](https://Atlantic.Money) a shot. Have a nice evening! + +These were the options: + +|*Provider*|*EUR Amount Received (30k GBP sent)*|*Savings*| +|:-|:-|:-| +|Revolut|34,209.04|0| +|Wise|34,248|\+38.96| +|Fineco|34,331.25|\+122.21| +|Atlantic Money|34,395|\+185.96| +|||| + +&#x200B; +Hi all, + +I’ve seen quite some posts about the effects of rule changes and some puzzle pieces about what happened in the last few days. This post tries to connect some of the pieces to clear some of the image. + +We’ve seen OTC changes: companies that have been delisted (read: shorted into the ground by SHFs) are not longer collateral for new leveraged trades. u/Criand Made some great posts about this. I’d like to clarify why that’s apparently a big thing. + +Let’s say they used 100M shares in naked shorting to run company A to the ground. The position went from $4.50 per share to $0.50 per share, giving the 100M ($450M) massive profit of $400M. Note: if they don’t close this position, they don’t have to pay taxes on it as they’re unrealized gains. + +Now before September they could use that unrealized gain as collateral for a new leveraged naked short position. If they only need a 10% margin they could get a multi billion dollar ($4B) naked short position to run down company B. The Archegos files showed a 20-to-1 leverage, which means a 5% margin, resulting in a 8 billion dollar position with $400M margin. +(Edit: Rest of Europe to UK / US: 20x is not 20:1 ofc and 10x is not 10:1 but you get the idea.) + +You get the idea. If we take this a few steps further it’s leverage-on-leverage-on-leverage which doesn’t need to be taxed for, until now, because the rules changed. + +It’s time to make the puzzle image more clear. + +We’ve observed Citadel that needed to borrow $500M in august to meet the margin requirements. Initially, I’ve seen apes saying this is because of the new margin requirements which didn’t make sense to a lot of other apes because the margin requirement increase from 10k to 250k are so small. + +SPOILER ALERT: +It’s not because of the margin requirements. It’s because they have $500M in collateral OTC (naked) shorts that they previously used as margin to bring down GME, movie stock, and others. + +Citadel is about to be taxed on those, having to pay like $100M. This should fuel the financial institutions and the SEC to bring up the net in times where they are needed to support the economy. It’s basically easy tax money for them. + +TL;DR: we missed the impact of OTC rule change. It should be clearer now. +How long will the VIX continue to remain above 40? Why do we still have 100 point swings and why do we have face ripping dips and rallies? As previously mentioned, this correction was the fastest in history and the markets haven't experienced volatility like this since the 2008 financial crisis. + +So let's take a look at what happened since the 2008 financial crisis: + +[SPY 15 Yr\/1 Wk](https://preview.redd.it/dpr1jcm5yhl41.png?width=2108&format=png&auto=webp&s=851140c510db69678317f70dfc9b14329f9731ca) + +The rapid selling of 1 week reached a selling climax and found support at 284.82, the October 2019 low. On 3/3/20 at 10 am, the Fed announced an emergency 50 bps rate cut, where SPY briefly peaked at 313.84. In effect, we are **range bound between 313.84 and 284.82.** Think of this as the high volatility zone. + +[SPY 10 Day\/ 30 min](https://preview.redd.it/hnve7b88yhl41.png?width=2108&format=png&auto=webp&s=0b35e48cea5686669c1aec2fcc643b02d4c56483) + +This is not the first time that this pattern has occurred in market cycles. Wyckoff provides a convenient road map. \[1\] This is not to say that we are in accumulation phase. On the contrary, I believe we will continue to the downside and we will enter a distribution phase to the downside. 285.54 served as our lower bound in our trading range, upon which a large automatic rally happened and was short lived. + +Market makers do not necessarily trade stocks or options like we do. We have to realize they really trade off of volatility. As previously noted, when autists such as ourselves rapidly purchase options, market makers purchase the underlying asset in order to delta hedge or be delta neutral, and take advantage of the change in gamma and vega. Think of the delta as the first rate of change of the asset, and that gamma is the second derivative, the rate of change of the rate of change. Thus, while delta is linear, gamma is non-linear and really gives you the tendies in a long position. Theta is the rate of time decay, and eats away at your profits. The gamma flip happened at around 325, since MM are more or less net short starting when we passed the 283.2% retracement from the 2008 lows, and the probability of options being in the money favored puts. + +[SPY Put\/Call Gamma and Prob. ITM](https://preview.redd.it/6p15fc4ayhl41.png?width=2822&format=png&auto=webp&s=de285a520d658f5a43fde439f30171e333592890) + +Starting around the 325 strike, you can see there are large increases in gamma for both put and call positions, along with corresponding changes in the probability of being in the money. Okay, so MM are most likely short gamma, we are in a place of high volatility, and VIX will continue to remain at elevated levels in this range-bounded zone. So what's next? The biggest problem right now facing the market is uncertainty. Thus, it is highly likely that we are going to retest the 285 low, which Wyckoff refers to as a secondary test based on the price action on 3/6/20. The 2% rally in the last 10-15 min of trading is mostly MM short covering. Everyone screaming that the Fed is pumping like clockwork need to realize that MM want to close and lock in profits after 2 red days, especially when heading into the weekend. Due to this uncertainty and with additional bad news expected over the weekend, I believe we are going to still face more downside as we close near the 285, before having another large rally to the upside. + +[Largest option sales for SPY 3\/6\/20](https://preview.redd.it/z93o3b4dyhl41.png?width=2788&format=png&auto=webp&s=1488df1baba93fff4bff418f9a01e4e2f946e058) + +This is supported by the large amount of March 20 calls and April 17 puts purchased within the last few hours of trading. Between 305-307 is the 200 DMA and EMA. These call options were purchased at a discount, and will most likely be used for a hedge when the ST bounce and squeeze happens. However, it appears that a lot of MM expect the S&P to hit around 270-285, with 285 the lower end of the trading range. 281 and 273 are the August and June 2019 low's respectively. + +The question over the coming weeks is will continue to rally, form new resistance, and then break out of this high volatility zone? Let's take a look at the number of cases of coronavirus within the United States. + +[Coronavirus reported infections, Jim Bianco](https://preview.redd.it/nqjloalkyhl41.png?width=1200&format=png&auto=webp&s=7091f7aeb7c59b3b068fb84ae0d885c426d47ad6) + +Note the Y-axis is logarithmic. This means that unless we see a plateauing, or curvature of the line for cases, we are in an exponential phase of growth. Again, we as humans have a relatively easy time grasping linear relations (e.g. delta), but have difficulty rationalizing exponential or non-linear trends (gamma/exponential). As of 11:20 AM, EST, the US has 340 confirmed cases. Another increase of approximately 20% cases compared to yesterday. + +CDC reports 164 cases and 11 deaths. Simply dividing case number by deaths does not give the true mortality, since there is a delay of 1-2 weeks from the incubation period. However, this number would be even higher since the CDC had fewer cases. For this example, we will just divide case number and deaths for now, giving a mortality rate of 6.7%. WHO estimates a mortality of 3.4% which is close to what Italy has. In reality, due to limited testing, the mortality rate might be closer to 1% which is 10x higher than the flu. How many undiagnosed cases do we really have in the United States? The next few weeks will reveal a problem orders of magnitude larger than expected. Hence, a retest of the 285 will be essential to test the resilience of the market. + +The American Hospital association is predicting 1-2% of patients will require ICU care. ICU units are distinguished from the ER due to the necessity of advanced life support systems such as a mechanical ventilator to aid in breathing. + +[AHA report to hospitals](https://preview.redd.it/l20zac9myhl41.png?width=1399&format=png&auto=webp&s=430e81606c1a9e4d9396dd55393fb2c64f31d2d3) + +Let's say the US takes proactive measures and has 1/10th of these cases. 9.6 million affected, 480,000 admitted to the hospital, and 190,000 requiring ICU intervention. How many beds are in the US ready for ICU treatment? How many are occupied already? If patients cannot access critical care, this will be the tipping point for the US. This is already occurring in Italy and South Korea, where patients need to be transferred to other hospitals due to the overwhelming number of cases each hospital treats. This is explained well in this tweet. \[2\] + +[Critical care beds in the USA](https://preview.redd.it/qqfbh2hoyhl41.png?width=665&format=png&auto=webp&s=1c5fd3877dc08f35e7db9108bfb8cab5ad0e269f) + +One more quick note. During high financial stress and downside, gold will be quickly sold and liquidated in order to cover other positions. We are repeatedly entering cycles where gold hits new highs, followed by large swings in the S&P. These are good opportunities to enter quick short positions as gold hits new highs. + +[GLD 10 D\/30 min](https://preview.redd.it/7137nb5qyhl41.png?width=2114&format=png&auto=webp&s=85b92f7019b1b151da4e85d5e8ec88fca9d454a7) + +Pending another large leg down, especially around the 285 retest, we will see gold quickly sold off again despite the bullish nature of the options. Only until we exit the high volatility zone, do I believe gold will stabilize and continue a run up higher. Before this occurs however, we may see gold prices reach 1400-1500 first. Note the Jun 30 puts at 148 strike. + +[Largest option sales for GLD 3\/6\/20](https://preview.redd.it/p316ycbtyhl41.png?width=2788&format=png&auto=webp&s=05897c01445a7d5120f8fb8cc0ac307d8a46dc7a) + +Things to look at are the 10-yr, additional pending rate cuts from the next FOMC meeting, and oil prices. Commodities tend to provide a more clean signal compared to equities about the global macroeconomic status. This is not a game between bear vs. bull. Look for key levels, position before the large moves. Look for patterns. This is us, WSB, vs. the market makers. + +**tl;dr Range bound 285-315. Going to retest 285 before moving back to 315. Buckle up, going to be a lot of large swings as volatility will stay high or even increase. Coronavirus cases going to go boom. Gold will move to the upside, but be careful for a large drop.** + +**Just to be SUPER clear, long term puts at April are being played by MM. But there will be a bounce soon since we are so oversold. MM have prepared for this by purchasing large amounts of March 20 calls. Be prepared for their games.** + +\[1\] - [https://school.stockcharts.com/doku.php?id=market\_analysis:the\_wyckoff\_method](https://school.stockcharts.com/doku.php?id=market_analysis:the_wyckoff_method) + +\[2\] - [https://twitter.com/LizSpecht/status/1236095180459003909](https://twitter.com/LizSpecht/status/1236095180459003909) + +Update 1 3/7/20: US has now 401 cases, an increase of 18% in just 5 hours. + +Update 2 3/8/20: WTI oil looking at a 20-25% drop upon opening of futures later today. Can update with a new post if people are interested. + +USA confirmed cases 484 as of 4:10 EST. Most likely hit more than 500 by tomorrow. 1-2000 by next week. Around 3-4000 at least by end of month. + +[\/ES futures 6pm EST 3\/8\/20](https://preview.redd.it/llotkyapuil41.png?width=2788&format=png&auto=webp&s=75b45dbc07f02270e12c8f2c981655e5e30d5fcc) + +Just made a new low on the /ES futures. Bouncing again at 285, the lower range. Most likely going to sell puts at the open. + +Wow, we just hit 30/barrel of WTI. Insane. We are witnessing history guys. Seeing a lot of comments about buying USO calls, saying this is the bottom. People have been trying to call the bottom on oil for months now. Still seeing us retest $26.05. + +[\/CL futures 6:05 EST 3\/8\/20](https://preview.redd.it/dak7qsp6vil41.png?width=2788&format=png&auto=webp&s=0487ddf33ac2ed0a35df769024943fd9184a2000) + +Another contrarian indicator given the price action. Even though we have hit -5% in /ES and passed 2850, there's actually tens of thousands of puts OTM purchased on TLT during Friday. Now that begets the question, if treasuries are the safe haven asset as more people are selling, then who is buying these puts? + +https://preview.redd.it/69a2ljz2mkl41.png?width=2788&format=png&auto=webp&s=a9874d98b41439c80601ef87e030a90f964d9683 + +Update 3 3/9/19 - Given the nature of limit downs, people are going to be running for the exits. Wouldn't be surprised to see us hit the 7% breaker. I think there will be intervention before hitting the lower ones to prevent mass panic. SPY 273.09 is the June 2019 low. + +Update 4 3/9/19 - Look at this call positioning from this morning for SPX. They are loading up on the cheap for 3/20. + +[3\/9\/20 SPX options](https://preview.redd.it/ndu2thpk2ol41.png?width=2788&format=png&auto=webp&s=1381c3d1a4a7071a3c3e68c5d06c0def76f226c3) + +Retest of the -5% at the previous 285 was rejected. Ended lower than -7% circuit breaker and even below the August 2019 low at 273.09, creating a sign of weakness. Larger sell volume present in the final hours of trading. Most likely going to continue to the downside, but still expecting a bounce which will be used to shake out people holding their puts. + +[3\/9\/20 SPY 20 D\/1 Hr](https://preview.redd.it/9ial8viumpl41.png?width=2114&format=png&auto=webp&s=9b2b5e8f20ad2525efe405bd86f8bcee384ac865) + +Update 5 3/10/20 - Climbed back into the 285-315 channel before breaking down again from that news from CNBC. Still think we will pop back into the channel during the cash open as MM seek to test supply in the upthrust phase, and try to nab as many puts as they can. As with most trading days the past few weeks, the last hour of trading will be the most revealing. I expect significant accumulation of 4/17 puts. + +[3\/10\/20 SPY 10 D\/30 Min](https://preview.redd.it/yqkc8xqlbul41.png?width=2114&format=png&auto=webp&s=849ccf6406ad2f612a1a76342cfd4ddd6f2c6ae8) + +Updated new post today: [https://www.reddit.com/r/wallstreetbets/comments/fgnqbh/was\_the\_circuit\_breaker\_on\_monday\_an\_engineered/](https://www.reddit.com/r/wallstreetbets/comments/fgnqbh/was_the_circuit_breaker_on_monday_an_engineered/) +[**GameStop Wallet Support**](https://support.blockchain.gamestop.com/hc/en-us/sections/4412111751955-Getting-Started) + +# 🟣 [Computershare Megathread](https://www.reddit.com/r/Superstonk/comments/v2ff5r/drscomputershare_megathread_062022/) + +>Wondering what DRS is? Want to know how and why people are Direct Registering their shares? Here you'll find our guide and additional resources, as well as a welcoming community answering questions in the comments! + +# 🙋 ​[What's GME & should I consider investing?](https://www.reddit.com/r/Superstonk/comments/qig65g/welcome_rall_looking_to_catch_up_on_the_gme_saga/) + +# 📚 Library of Due Diligence [GME.fyi](https://fliphtml5.com/bookcase/kosyg) + +>A collection of over 200 of the most important, groundbreaking **D**ue **D**iligence. If your looking to familiarize yourself with the GME bull thesis or the underhanded tactics of the short sellers involved in this trade– then this is for you + +**Read** [**the Rules & Wiki**](https://www.reddit.com/r/Superstonk/wiki/index) **||** [**MOASS FAQ**](https://www.reddit.com/r/Superstonk/wiki/index/faq) **|| Join our** [**Discord**](https://discord.gg/Superstonk) + +Low karma? Want to feed DRSbot? [Post on r/GMEOrphans](https://www.reddit.com/r/GMEOrphans/comments/qlvour/welcome_to_gmeorphans_read_this_post/) + +How to [Filter by Flair & Search](https://www.reddit.com/r/Superstonk/comments/v0oxp2/how_to_filter_by_flair_search_for_posts_on/) on Superstonk + +Tag u/Superstonk-Flairy for help with user flairs, find [custom emoji options here](https://www.reddit.com/r/Superstonk/comments/v89p0h/new_superstonk_user_flair_emojis_how_to_edit_your/) +[from u\/I\_DO\_ANIMAL\_THINGS](https://preview.redd.it/246nzb08by281.jpg?width=2882&format=pjpg&auto=webp&s=ea483c15146b6f56cab91e34868c9e2918775f2c) + +[~~www.gamestop.com~~](http://www.gamestop.com/) ~~(THIS PORTION COMPLETE)~~ + +* ~~go buy toys and ship them to the Irving TFT address!~~ + +[Link to TFT money donations](https://marinetoysfortots.salsalabs.org/2021marinetoysfortotscrowdfunding/p/VeryGMErryHoliday/index.html) + +[Link to main VGH post](https://www.reddit.com/r/Superstonk/comments/qnam2x/superstonks_very_gmerry_holiday_vgh_for_short/) + +&#x200B; + +[turn on the audio lmayo you won't be disappointed](https://reddit.com/link/r6iuw8/video/6ai4220way281/player) + +~~Alright folks I hope you enjoyed that. The sound carries through my apartment so that’s why I had to whisper. Didn’t want my neighbors to hear me recording the dumbest song of 2021 lmayo. Now onto the updates!~~ + +https://preview.redd.it/fem0m7tbby281.png?width=663&format=png&auto=webp&s=c7920e807b4d0e80e0db0361ecc34f7c0520c5a1 + +# IT’S THE FINAL COUNTDOWN! + +**~~DECEMBER 10~~** ~~is the last day that you can order toys and send them to the Irving TFT. So it’s full steam ahead!~~ + +* ~~Name: Toysfortots Gamestop~~ +* ~~Street Address: 3880 Irving Mall~~ +* ~~Between Macys-Dillards on backside~~ +* ~~Irving, Texas 75062~~ +* ~~Phone number: I used my personal one lol its GameStop.~~ + +# BUY FROM GAMESTOP! LET’S BOOST THOSE FOURTH QUARTER NET SALES! LET’S GIVE OUR BOY MATT SOME LOVE!! + +[REEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEE](https://i.redd.it/akenykzeby281.gif) + +# Wondering how much $$$ in toys we've sent? Welcome the VGHbot! + +Thank you u/MrYoson for building this amazing bot and making it as dummy proof as possible! The bot’s purpose is to figure out how much Apes are supporting GameStop! + +https://preview.redd.it/hrkmrv7hby281.jpg?width=1024&format=pjpg&auto=webp&s=b371078e8fa9ef1604d7bd6a1a272c9894fa0972 + +So for those of you who have made GameStop purchases for the VGH, here’s how to add your receipt to the bot’s total. + +1. Get an imgur link (or similar photo sharing) of your receipt +2. Post the imgur link in a comment with !VGHbot:xxx! + 1. use the subtotal for the xxx like [this](https://www.reddit.com/r/Superstonk/comments/r6iuw8/comment/hmtbiuk/?utm_source=reddit&utm_medium=web2x&context=3) + 2. xxx should be something like 420.69 or 69.69 or 100 or 3.69, all should work + 3. capitalization doesn't matter + 4. With the bots and Reddit limitations, please don’t be alarmed if the VGHbot doesn’t autoreply right away. + 5. You can do this anywhere on Superstonk and it’ll work, but please try to keep it to VGH posts <3 + +# Don’t use the VGH flair for your personal holiday purchases. + +It’s for the kids. **The bot and the flair are JUST for the kids, please.** + +For your personal holiday purchases, please label them under HYPE/FLUFF. Thank you! + +# $89,195.33 of $741,420.69 raised so far! + +Last day to donate money to this fundraiser is December 24. + +And about that lofty $741,420.69 goal...I’m gonna make a PSA right now and tell you straight up that I don’t care whether or not we hit our money goal. EVERY SINGLE CENT that we have raised for the VGH is a win. No matter how this turns out, I will only have pride, admiration, and thanks for this community and what we have accomplished. The Very GMErry Holiday will forever speak volumes of who we are. I love you guys <3 + +And that makes this next part hard to say. + +https://preview.redd.it/2r7u9pbpby281.jpg?width=636&format=pjpg&auto=webp&s=87c2580b9ccc92cd276fbb4e9028c83b70b97071 + +When I joined the mod team during the summer mod drama, I said I’d stay on the team until the end of the year. I only became a mod because I felt in our time of need, someone needed to do *something*. So I stepped up and did what I could. Being a moderator will forever be one of the most important things I’ll ever do in my life and I’m grateful to have had the opportunity to make meaningful change in a community I care so deeply about. + +But I’ve done a lot of thinking, a lot of soul searching, and I know it’s best I stick to that departure date (unless we start getting whiffs of MOASS beforehand 👀). This place doesn’t need me. It doesn’t need any of us because there’s so many Apes and I believe when enough people think critically together, we can solve ANY problem. And in this specific community we’ve built, we have a lot of people who CARE and that kind of passion can’t be understated. + +[I'll never stop making butt jokes](https://preview.redd.it/vkfttmeqby281.jpg?width=462&format=pjpg&auto=webp&s=6d6bb6133e51b11b7f153a0197d13f35198f74dd) + +It’s been a rollercoaster ride over this past year. I’m a better person than who I was last December. And for the first time in a long time, I feel hopeful. The Apes are my people, you are my tribe, and I will forever be grateful to have shared this pocket in time with you all. We’re quite literally changing the world right now. And we’re doing it by uncovering all those little secrets and tricks the wizards in charge used to keep the curtains closed and the veils drawn. But no more! + +I’ve been an Ape since the beginning and I’ll be an Ape when this chapter ends. This is gonna be an emotional last month for me so I’m just gonna have a lot of fun before I say goodbye. Thank you for letting me be me <3 + +In closing, I present another shitpost. For I have found the **secret weapon** in our fight against corruption and fraud! + +[ I’m DRSing another 69 shares later today awwww yeaaaa](https://preview.redd.it/or2lloxsby281.jpg?width=1347&format=pjpg&auto=webp&s=50fb2169f37db1dc48339c099b4cc11ad057203c) + +# Cheers everyone 🍻 let’s give some toys to kids <3 +Hello y’all, +Backstory: +I’m 24, have 1,000 a month to invest with 12,500 capital. My goal is to retire ire around 40-45 and live off dividends generated. + +I’ve been working on this portfolio and before I start trickling in my capital and then the monthly contribution I was wondering what you all thought and if you have any suggestions. + +I’ve geared it a little more towards overall growth so I can grow the money faster and then sell and gear more towards dividend. +Current ratios according to M1: +5 year portfolio growth: 104% overall growth +Dividend yield: 3.27% + + +My idea is in about 6 years when I become 30 to trickle out of apple and Microsoft and reinvest the growth from those into the better dividend paying stocks to get a higher yield at the sacrifice of overall account growth. + +Any help/advice is always appreciated + + +https://m1.finance/oCmJJaeaxy8Y +I wanted to get into investing. Unsure of where to start, I got my my Realtor License. I eventually got busy and sold a house in a neighborhood where I have found my first deal. + +I have noticed this house being vacant for the last 3 years and something told me to look into it. I looked up the tax records and found that it was going on 4 years past on taxes. It was supposed to be in a tax auction last year but it has been stuck in probate for about 2 years. + +The homeowner passed away in 2015, her brother contested her will and the home went into probate. The brother passed away before the probate was completed and the home has just been sitting there. I got with my attorney and now we are assigning an executor who is one of our friends. I then plan to purchase the home from them. We are expecting to have this process completed in a couple weeks. It is exciting! Never thought this is how I would get started but it is happening. Wish me luck! + + +***Update*** +Court date is on the December 16th! I'll definitely make another post about how it goes! + +***Update 2*** +We have the executor in place. We had to get a $100,000 bond on the property which cost us $513 annually from an insurance company. Next step is getting an appraisal done. Ordering that tomorrow and honestly it's going to appraise higher than I expected. Visually it is in pretty good condition. Just needs cosmetic updates. +I am trying to buy a house as an investment property, this will be my first property. The lender I am currently speaking with has quoted me an owner occupied loan. He basically told me "when you close on it, you know, you just say your intention to move in there and you can always rent it out or not rent it out, its up to you." and "If you decide to rent it out, life happens man, that's not a problem at all, there not gonna do a spot check and verify you live there". + +I have made it very clear from the start that I intent to use this as a rental property and the loan officer has said that it wouldn't be a big deal if I did with an owner occupied loan. I have no intention to commit fraud and have no intent to deceive my lenders. Would I get in trouble for taking this loan and turning it into a rental? +I am trying to buy a house as an investment property, this will be my first property. The lender I am currently speaking with has quoted me an owner occupied loan. He basically told me "when you close on it, you know, you just say your intention to move in there and you can always rent it out or not rent it out, its up to you." and "If you decide to rent it out, life happens man, that's not a problem at all, there not gonna do a spot check and verify you live there". + +I have made it very clear from the start that I intent to use this as a rental property and the loan officer has said that it wouldn't be a big deal if I did with an owner occupied loan. I have no intention to commit fraud and have no intent to deceive my lenders. Would I get in trouble for taking this loan and turning it into a rental? +I posted previously, asking what people's experiences were in [downsizing](https://www.reddit.com/r/financialindependence/comments/c9tgdb/what_are_your_experiences_downsizing_to/) and thought I'd give my own update. + +As in the post, we sold our circa $600K house (took a small loss on it after living in it for 10+ years, but that's another story) in one MCOL and bought a \~$350K house in another MCOL (to be closer to family). We went from \~3200 sq ft to \~2400 sq ft. We went from 5 bedrooms to 3. We are empty nesting. We netted about $180K from the sale of the first house. + +We traveled for 4 months (\~$5K in costs which was easily covered by not having a mortgage, points and staying with family at times) or so in between the sale of the house and the purchase of the new one. That was mostly good, although I probably enjoyed it more than my spouse, as she got tired of living out of suitcases. We put almost all of our possessions in storage during this time. Despite getting rid of a lot of stuff, we still needed a fair bit of storage. We're not hoarders by any stretch, but it's amazing/sad how much stuff still piles up even when you are diligent about it, or at least thought you were diligent. Post moving in, we've continued to evaluate and get rid of stuff. + +We're a few months in to the new place and the new budget picture is emerging. Some details: + +We set aside $30K from the house sale (we put $100K down and invested the rest) to make upgrades to the new house, including new furniture, as we sold a fair bit of our older furniture and part of the downsizing deal with my spouse was new furniture and some house upgrades, as she wasn't as into the downsizing and so this was our compromise. Total costs will probably land around $25K, most of which I'd consider to be beneficial to the future sale of the house (updated kitchen, bath, landscaping, etc.) I'd also say we compromised on the size of the house. I think we'd be just as happy in an even smaller place, but it's not worth the fight. + +Storage for 4 months cost \~$3200. This was a surprise and well above what we thought we needed and were told by the storage facility due to us needing more units than originally thought. We moved ourselves, with some help loading and unloading. I'd say that cost \~$1.2K (truck rentals, mileage and labor) as compared to the $5k we were quoted from movers. + +The old house was in the country on well and septic. The new one is not. Thus, we picked up some new monthly costs like water/sewage to the tune of about $70/month. Our HOA is more, but it includes a lot of things we were paying for a la carte before (community pool, garbage, tv/internet) or had to do ourselves (yard), so it all is about $70/month more than before. + +The new house has cheaper home insurance and taxes. I'm not sure at the full cost there yet, but let's call it $100/month less. + +On the mental front, I'm loving it for the most part. The old place was a lot of work to maintain and even though I gave up the serenity of the country for the 'burbs, it feels right. We're closer to people we care about and we have way more flexibility in our finances to go do slow travel. Since the new home requires less care, we feel we can go away for longer without worrying. The layout of the home also makes it a lot easier to clean. My wife has been mostly good about the move, although she is still adjusting to being in a smaller place and not being able to decorate as much, which she truly values. Only thing I really miss so far is my old garage, as it had higher ceilings to get things out of the way like bikes and was a bit wider so it didn't feel as cramped with both cars in it. + +Our total costs are down about $1400/month. The picture is still a bit murky, so we'll see for sure in a few months. I'd say overall our goal is "slightly obese" FIRE and so in the long run this will make a good dent. We're about 5-7 years out, but effectively have FU net worth at this point if need be. I really like what I do, so my RE plan is to simply do it on different terms (consulting, PT, project-based.) + +On the empty nesting front, we're spending less on car insurance, groceries and other basic commodities since there are only two of us now. + +Not that I really believe in reading into coincidences, but I feel like we're being rewarded for it all, as I also got a raise at work during this time! +**EDIT:** A great OG IRA-DRS ape, u/winebutch found a non-broker custodian, **Mainstar Trust**, who offers SDIRAs, has already DRS'd multiple IRAs with them, and has outlined the process beautifully here: + +[https://www.reddit.com/r/Superstonk/comments/scpxs9/another\_path\_to\_drsira\_with\_no\_taxable/?utm\_source=share&utm\_medium=web2x&context=3](https://www.reddit.com/r/Superstonk/comments/scpxs9/another_path_to_drsira_with_no_taxable/?utm_source=share&utm_medium=web2x&context=3) + +For any who may not know, no surprise that Ally/ Apex has dropped the ball and a lot of potential clients, myself included, by requesting any previously DRS'd IRA shares be pulled back or they will be coded as a taxable distribution. Had a hunch, so I attempted to transfer within CS to a different custodian, without pulling them out of book entry-- this worked temporarily, **but Computershare did catch on** and moved my shares back, so **I do NOT recommend Ally or the process I used in this post.** + +\---------- + +(original post:) + +btw this is a copy of my second post ever, so apologies in advance for my rambling, incoherent babbling… + +Everything I did so far was done online. **No LLC. No EIN**. (although I have both, but did not use them here) No separate custodian, other than what appears to be the custodian for my self directed IRA at Ally Invest. (Apex, which one of their reps said is their clearing corp or something) + +Here’s how I did it (with some random numbers in almost a list format): + +1. Opened new IRA accounts with Ally Invest. One to match each type of IRA I had with TDA. I opened 1 Roth and 1 traditional IRA. + +PLEASE NOTE: This in no way is a plug for Ally, they just start with an A and were on some list when I searched for 'self directed IRA' -- a side note, within a note: For some reason I opened an account with AltoIRA first (I know, NOT in alphabetical order, WTF was I thinking??), and tried to DRS my IRA with them. They evidently only help people throw their life savings into metals, farm land, baseball cards or anything BUT stocks, so that was a dead end. Nice people. And when I have some extra money and want to truly diversify… + +so back to Ally. Here is the page: [https://www.ally.com/iras/#choice](https://www.ally.com/iras/#choice) + +I picked 'self directed trading’ + +&#x200B; + +[anyone can open an account instantly, just plug in your info and voila, you have an account.](https://preview.redd.it/o4yxbm2lw7v71.png?width=2740&format=png&auto=webp&s=1e8ebb7c97eb1feeabecd6b2dbe0f260be7a26cf) + +&#x200B; + +* 2. Ally has an easy peasy built-in ACAT transfer form that basically took me through a series of fill-in form questions in order to "Fund My Account" in the beginning, or I see this now under the **Transfers menu > From Another Firm**. + +My Roth I transferred all and closed at TDA, my traditional I only transferred shares and kept some change in TDA just to keep the account active. + +A NOTE ON CHARGES FOR TRANSFER: Ally does reimburse up to $150 for transfer fees, but you need to have that money in your account or transfer it in after the fact, then apply for the reimbursement. + +So for example, my Roth I only had a few bucks so once the full transfer completed, I got a "margin call" email from Ally saying they were going to liquidate something or somecraplikethat to cover my -$52 cash balance. This scared the sh@t out of me and I immediately thought "Oh no, they work for Shitadel." Then I remembered about the transfer fee, so I just transferred $52 in from my bank and all was well. + +This took less than a week from TDA. **I opened my Ally account and started transfer on the 8th, and my GME shares showed up on the 13th.** Success! I immediately started transfer on one of my other IRAs. This time I made sure I had at least $75 cash balance, so no more margin drama. + +&#x200B; + +[\* I found out if you just choose partial, your old account still remains active. this might save you \~$25 just by not closing that account. You can still select all shares to transfer.](https://preview.redd.it/875cl7mnw7v71.png?width=2734&format=png&auto=webp&s=e9669070e14b193bad038af54f3934647b87fe43) + +&#x200B; + +* 3. After some chatting and digging and emails with Ally Client Services (which has been awesome so far btw), I found the following simple process to DRS my shares in my IRA. Both Outgoing (to CS) -- and Incoming -- (from CS to Ally): + +(copy/ pasted from Ally email) + +————— + +Please see below: + +Outgoing DRS Procedure: + +* Submit a Letter of Instruction including: +* The purpose (outgoing transfer of a security) +* The name of the transfer agent where the shares are going +* Security symbol(s) +* Share quantity +* Social Security Number +* **Acceptance of $115 processing fee per security, or $125 fee in case of rejections** +* State your acceptance **in the body text of the LOI** +* Please remember you must have the balance available in your Invest account at the time of processing +* You must sign LOI **in wet ink** or **electronically via stylus** (electronic stamps are **NOT** considered wet ink signatures) +* LOI can be returned via fax, mail, or Document Upload online. +* Fax: 866-699-0563 +* Mail: Ally Invest, PO Box 30248, Charlotte, NC, 28230 + +Incoming DRS procedure: + +Complete an ACAT transfer form and include a copy of the current statement. + +* This form will now be available on the Transfers page in the Ally Invest Live Platform. +* Return to Ally Invest by email, fax, document upload, or mail + +————— + +(end of email) + +* 4. Here's the thing, I was stoked to do this but am super busy with work, got this info on the 13th. 2 days fly past and I'm driving along and a voice pops in my head: "Come on, these IRAs aren't going to DRS themselves! I know the process now, DO IT." + +\-- so I pull over in a parking lot at 5pm on the 14th, and **hand wrote this letter of instruction** (below) in my truck, signed it, **took a picture of it** with my phone and **emailed it to** [**support@invest.ally.com**](mailto:support@invest.ally.com)**for each of my IRA accounts**. + +(I left blanks intentionally so if it worked, I can just fill in my own info for each account I will be DRSing in the future. Also for sharing the process ;) + +&#x200B; + +[fill-in form in true ape style](https://preview.redd.it/m1p6mmjuw7v71.jpg?width=3024&format=pjpg&auto=webp&s=46aed1d2fe7c1e0efecb52644c7be03a4b780ec7) + +Maybe it's bad to send stuff via email with your SS# on it, and if I didn’t want to, I'm pretty sure Ally has a secure document upload thingy. I was just sitting in my truck and they said I could email it, so I did. I have voluntarily frozen my credit and enabled 2FA on all accounts since we had some identity theft scares in the past. Maybe from emailing all that sensitive information... 🤔🤔 + +I sent this email at about 5pm on the 14th with the (filled in) letter above as an attachment. + +Approximately **20 minutes later I got a response** that they “forwarded my documents for processing and it generally takes 5-10 business days, and have a great day!” + +Here is the wording of both of my emails: + +email #1: + +———- + +>Hello, attached please find a letter of instruction for and Outgoing DRS transfer for my Roth account.Please reply to confirm receipt of this email and letter as well as to let me know if this is accepted or if you need any more information. Thanks!!Cheers,\[youniversawme\] + +———— + +email #2: + +———— + +>Hello, attached please find a letter of instruction for and Outgoing DRS transfer for my Traditional IRA account.Please note: this is my second LOI today, for a different IRA account (first was for my Roth). I’m not sure if this is necessary to indicate which account, so please advise for future reference. If this works out as intended, I will be transferring more accounts over to Ally to do the same and most likely open business and personal banks accounts with you as well.Please reply to confirm receipt of this email and letter as well as to let me know if this is accepted or if you need any more information. Thanks!!Cheers,\[youniversawme\] + +——— + +and yes, I realize I misspelled "an" on both emails-- see? you can literally be retarded and still somehow do this. + +* 5. Since I now had the process possibly rolling, I thought I'd better cover that $115/125 fee so I deposited $150 into each of my IRA accounts with Ally. I know this is considered a contribution, which for my Roth will put me over the max, but I'll deal with that on my taxes or take a $150 distribution to balance it out. (NFA, I have no idea what I'm doing, just make it up as I go) + +At one point, one of the email support people thought it may not work as they were not familiar with the custodian thing, or lack thereof, at Computershare. However, I had already submitted my letters of instruction for both my IRAs by then and trusted they did not call it a "self directed IRA" for nothing, so I figured I'd just let it ride and see what happens… + +…drumroll.... + +* 6. days later, on 22 Oct, I received this GameStop DRS advice from Computershare in the mail, with Apex Cust FBO \[youniversawme\] Roth IRA as the recipient. I'm no rocket scientist, but the signs certainly are pointing me toward the conclusion that.. + +It worked!? It actually worked!! + +&#x200B; + +[notice the shiny new account number 641xxx.](https://preview.redd.it/2wiwettww7v71.jpg?width=2108&format=pjpg&auto=webp&s=8e2d253f63066a7a78a53f6a913cdbd12a02735b) + +Full address line reads "APEX CUST FBO \[youniversawme\] ROTH IRA" + +\[expanded = **Apex** Clearing Corp is **cust**odian **F**or **B**enefit **O**f my **Roth IRA**\] + +Again, regarding Apex being custodian, I will follow up but I remember one of the Ally chats or emails saying they use Apex for clearing or holding or evidently custodian stuff, so I'm not too concerned about this. The main thing is that they are **willing to act as custodian FBO (for benefit of) me**, and these shares are **still in my IRA AND DRS'd in Computershare** with my name on them. + +\[Here is Ally's web page on this: [https://www.ally.com/invest/disclosures/funds-availability.html](https://www.ally.com/invest/disclosures/funds-availability.html) \] + +Well, that was just yesterday, and I have already emailed CS to see if I can access this account through my regular cash portfolio account/ user, or if it requires setting up a new user since it's an IRA. Not a big deal there, just be easier to have one less username and password in the world.. + +TL;DR + +It appears I have stumbled onto a way to DRS my IRA without too much trouble. + +I explain how I did it above. + +If you want to know how, scroll back up and follow the trail of little black dots. + +or this: + +**IRAs at TDA > IRAs at Ally Invest > DRS shares at Computershare, still in IRA** with Apex as custodian FBO (for benefit of) me + +**Out of pocket cost: $115 for each DRS position\* (ingoing or outgoing). \[\*not per share, this is for the lot\]** + +That's it, my beautiful ape friends. That's my story, what appears to have worked for me and how I will be moving 100% of my IRAs to DRS and hopefully rolling over a 401K soon to do the same. + +Of course, this may not need saying but I am the opposite of a financial adviser. I may somehow get hit with a huge tax bill next year, and though it doesn't seem likely, that's a risk I'm willing to take. The above steps are simply something I chose to do with my own hard earned money and felt compelled to share with the world and a few thousand new online friends I've made since I randomly bought a share of some failing brick & mortar store when they turned off the buy button, laughed at some memes and read something called "DD" on some website... + +Do your research, make your choice, and make it well. + +See y'all on the moon. + +**Edit:** Some apes had some great questions in the comments so I clarified and added a link above, and I will be testing out that "incoming DRS procedure" asap to document this. The following is what I know so far regarding how IRAs are handled in Computershare... + +# Can CS hold my IRA? + +I'll let Nica from Computershare answer that: + +[My understanding is that he's screaming to just transfer back to Ally before selling any. ](https://preview.redd.it/t8vqxam1xbv71.png?width=1128&format=png&auto=webp&s=01eef02b35454d2f3ad332e64a90e6acdbb82416) + +I don't even pretend to understand NFTs, let alone how one would be handled or taxed, but again this is a risk I'm willing to take here. + +# Is it a direct transfer, a rollover or distribution? + +again, Nica can do the honors here... + +[Aaah, the dreaded Medallion stamp! ](https://preview.redd.it/xfj5qldixbv71.png?width=1130&format=png&auto=webp&s=884676349f3d8073878c7b4bd6c8296235415355) + +And Lo, the Corporate Resolution with raised seal!! Sounds very scary!! Just in time for Halloween! + +I may have to return the ape mask and go trick or treating as a Medallion Stamp this year. + +Wait. I got it. I will be the ape wielding a flaming Medallion stamp, with a monstrous Corporate Resolution around my waist, and a raised seal belt buckle. Watch for me out there. + +**Ok, back to business.** Seems like this ACAT transfer or whatever instructions I scratch out in a parking lot this time might need to look a bit more official, so I'll get a new set of crayons and get to work on that. + +To be clear, I wasn't all that thrilled about Apex being my custodian either, but I figured hey at least I know these shares are DRS and not fakes anymore. Seems like this Medallion is the silver bullet. + +[Sorry to beat a dead horse here, Just trying to clear up the whole custodian thing.](https://preview.redd.it/ys5o9ei30cv71.png?width=1186&format=png&auto=webp&s=e23689674ba81cd89160a04e360f1c494fcaa998) + +Depending on how smoothly this goes, I may experiment and try to use my own LLC/ EIN for another IRA. My next post may just contain one of these rare, exotic Medallions I've been hearing about... + +&#x200B; + +https://preview.redd.it/z3c8fr602cv71.jpg?width=450&format=pjpg&auto=webp&s=4e10a59d16c4c3349b35f7a495f554a2949f14ce + +Edit 2: To be perfectly clear, I already transferred 90% of my cash accounts to CS, and will be transferring the rest along with 100% of my IRAs, and rolling over the entirety of a 401K to do the same as soon as I can. + +I am in no hurry to sell, and I view any delays in that process due to DRS as me gifting myself more patience and control when this stock takes off. + +I also view this as a fantastic long term investment, one that I currently can find no better place to put my money. I guess you could say I like the stock. +Hi All - I did it - I bought a house to live in. Despite all the negatively and uncertainty about this crazy housing market - I wound down my holdings in cash and stocks, bailed the rental market and bought a house to live in. + +I joined the crowd we all love to hate and am now in massive debt with the rest of those idiots. + +Let's see how this goes! +Is there any reason to choose monthlies over LEAPS besides the high premium? + +I feel like LEAPS have a reputation for being a comparatively solid investment. If it's a good stock, the reasoning goes, an expiration date a year away gives enough time for it to overcome any short term dips/corrections/bad earnings announcements and gain value. + +But, more people buy weeklies and monthlies than LEAPS. Is the reason for that just that they don't want to tie up so much capital? Or are there any other disadvantages to LEAPS that I'm not aware of? + +Thanks! +**Preamble:** The current jump in US consumer prices has understandably spooked investors. The current CPI numbers stand at 4.2 percent which is the highest they have been since Sep 2008 (the increase was almost 4x of what was expected). + +https://preview.redd.it/hbqazq6ek2171.png?width=365&format=png&auto=webp&s=74eadb25a157f0eb06f2fc177ca21eeecf52b40b + +While it is definitely [questionable](https://www.usinflationcalculator.com/inflation/current-inflation-rates/) to showcase the annual inflation rates like how they have done here, the sudden rise in inflation that we are seeing currently can have serious long-term effects. To understand how increasing inflation can have detrimental effects on the market as a whole and the stock prices, first, we have to understand the basics of inflation. + +**What is inflation:** To put it simply, inflation can be considered as the rise in price of goods and services which in turn reduces the purchasing power of each unit of currency. As prices of products inflate, each unit of money undergoes a proportional drop in value. [Zimbabwe](https://en.wikipedia.org/wiki/Hyperinflation_in_Zimbabwe) is an extreme example (they had to print banknotes of 100 Billion) of what happens when a country does not control its inflation and goes into hyperinflation. A sudden rise in inflation can have an insidious effect on the economy: The raw material prices increase; consumers can purchase fewer goods, and revenue and profits of companies decline until a new equilibrium is reached. + +**Is it a serious concern among investors?** + +https://preview.redd.it/y5euumxfk2171.png?width=623&format=png&auto=webp&s=e50fa2852db7a4ff3c648499fab4149dd23f5187 + +I analyze mentions and sentiment of various stocks to identify trending ones. I used the same data I collected to see the number of mentions of inflations and how it trends with S&P500. As expected, mentions of inflation have a negative correlation with how the market performs and we can see that it has exploded over the past few days. + +**How does inflation affect stock price?** + +The relationship between inflation and stock prices is not straightforward and no single rule applies. In the long run, shares can act as a hedge against inflation. i.e, the companies had enough time to adapt to the inflation in input prices and adjust their own prices, thereby increasing revenues and passing down the cost to consumers. + +But let’s be real here. None of us are interested in the long-term behavior and want to know the short-term impacts on stock prices. In general, stock prices have an inverse correlation (as can be observed from the chart above) – i.e, as inflation rises, stock prices fall. This can be attributed to multiple factors such as falling short-term revenue and profits, general economic slowdown, and a prospect of lowered real returns. But the single most important factor to consider for short-term stock price swings is interest rates. + +**Interest Rates** + +https://preview.redd.it/nsplxyohk2171.png?width=594&format=png&auto=webp&s=db044c0fd63d2bf2396e095e5bc306489204a4d4 + +The U.S federal reserve interest rates have been near zero from the time pandemic hit the country. This caused the market to be on a massive bull run over the past year as there are no attractive alternative investments that can generate a respectable return. This, along with the massive Covid economic relief bills, channeled a massive amount into equities (bonds with almost no interest were not an attractive investment anymore) + +https://preview.redd.it/eze2j12jk2171.png?width=624&format=png&auto=webp&s=0351d45013eb9bb4be06a43ac2e4ef1254d23088 + +”Money printer go brrr” was not just a meme. 1/5th of all US currency in circulation was printed in the last year. Out of this, only a small portion went into the actual paychecks that people received and a vast majority was used for keeping companies afloat. While the Fed still hasn’t announced any concrete plans for an interest rate increase, it certainly is on cards if the inflation continues unabated. + +**What does it mean for my portfolio?** + +Historical research indicates that during high inflation periods, growth stocks drop in price. This is predominantly because the valuation of the company is based on future expected cash flows and the increasing inflation rates will reduce the current value of the company, thereby adversely impacting the share price. + +https://preview.redd.it/54n0nmokk2171.png?width=624&format=png&auto=webp&s=eb67253b4c9c050b28642e9dfeca09379d9bc66a + +Depending on where you believe our current economic cycle is, we have multiple options. If you think that the market is still in a recovery phase, you can still continue to invest in Growth stocks but if you believe that the market is overheated and inflation would be the final trigger for a slowdown then Value stocks, Commodities, and Real estate investment trusts can act as a good hedge against inflationary market changes. + +**Conclusion** + +The short-term plays based on inflation entirely depends upon whether you believe the Fed’s explanation that the current jump is transitionary in nature and will settle down, or that the rising prices of consumer goods will finally force the Fed to increase their interest rates leading to the end of the bull run over the last one year. Whatever the case may be, we are in for some wild swings when the next inflation report comes out. + +*Disclaimer: I am not a financial advisor.* +**BACKGROUND** END OF 2021 UPDATE + +**Model**: I wish to maintain a portfolio that began in June 2017 at $1,025,772. My net worth at that time was $1,333,772 (with home/land). Our actual withdrawal rate is much less than the original 3% of portfolio due to: occasionally earning additional passive income; receiving an unexpected $30k windfall in 2018; and purchasing my parents home at a greatly reduced price in 2019. The budgeted maximum withdrawal amount for 2022 is $5918/mo or $71021/yr (now 2% of net worth). In 2017, it was $2564/mo ($2682/mo adjusted for inflation). We’re so far out of danger by historical precedent that spending is no longer a thought. The road of questions about what I do for health care (subsidies and their ambiguous morality), why retail pharmacy is so bad (below), and whether my situation is from determination or privilege (a lot of both) has been well tread. + +**Career**: I am a former retail pharmacist who hated both his job and profession for the following reasons: unacceptable amounts of stress, lack of civility from the general public, capitalism gone amok, fundamental disagreement with the overuse of pharmacotherapy as an answer for underlying health issues, and a severe opiate crisis that few have yet to appreciate. I attended college for eight years to earn a bachelors (1997-2001) and a doctorate (2001-2005) before joining the workforce for nearly twelve years (2005-2017, entirely with CVS). $150k in education costs were covered by academic scholarships ($25k), employment during college ($20k), prior savings from high school employment ($5k), and revenue from an ebay business while in college ($10k), and student loans ($90k). My salary plus compensation went from $115k in 2005 to $150k in 2017. Our savings rate was about 70% on average. My parents initially promised to cover the student loans out of what they deemed to be principle, but we assumed them when purchasing their home/farm in 2019 ($380k + assumption of student loans + free rent for life, for an estimated $750k home/farm that is now probably worth closer to $1.6M). Those will eventually be forgiven due to changes in repayment plans (see below). + +**Finances**: I retired at the age of 38 on June 6, 2017, the day before the twentieth anniversary of my high school graduation. I am married with no kids and generated over 95% of the family income while employed. We live in LCOL rural TN. Our asset allocation was initially 60% VTSAX (total US stock market) / 20% VFWAX (total INTL stock market) / 20% VWLUX (US municipal bonds). After the purchase of my parents’ home/farm, our net worth is closer to 50% real estate (one house with 28 acres and another house with 66 acres) / 50% VTSAX (total US stock market). We also hold roughly $100k in belongings not included in the portfolio. My spending model places no dependence upon possible future employment, social security, other inheritances, universal health care, or universal basic income. The final balance will be left to charities and worthy causes. + + +**2021 RECAP** + +**Spending**: Living expenses for 2021 came to $57,678 (max budget $46,848). We generated $20,167 of income this year from some almost entirely passive stuff. Our investment withdrawal was $37,511 this year, thus our pro-rated, annually-adjusted withdrawal rate was 1.60% for the year (max budget 2%). Without the additional income stream, our withdrawal rate would have been 2.46% for the year. Our net worth has gone from $1,333,772 (start) to $3,551,075 (current). Now I just buy things when I want them without thinking about it. A 43-acre tract of property that I bought for $250,000 in 2019 went under contract with a developer for $2.15M ($50k/acre) in 2021, but the sale fell through because the county is not allowing further development at the moment. For purposes of accounting, I place the value of it at only $688k ($16k/acre) since that is more in line with recent sales, but I have little doubt that I will be contacted again in the future. The student loans that I took over are going to be forgiven in 25 years because I switched to a non-existent-income-based payment plan that will forgive the leftover amount at that time. Thank you John Q. Taxpayer. + +**Experiences**: I ran over 4000 miles after my competitive running career came to a close (personal records: 5:12 mile, 17:37 5k, 36:39 10k, 1:17:38 HM, 2:43:12 marathon). I helped some friends of mine achieve their running goals. I allowed the pandemic to make this another less-than-productive year. I mostly stayed home and stuck with existing hobbies (reading, gaming, watching movies, web browsing, nintendo collecting, Garbage Pail Kid collecting, hiking, bird watching, visiting friends, following the intellectual rot of our republic). + +**Upcoming**: I want to travel when the pandemic is under control and make up for lost time (California #3, Hawaii #2, Japan #3). I want to continue with my hobbies and find some new ones. I want to find some new volunteer opportunities. I want to spend less time online. I will continue to do whatever the fuck I want. My five-year retirement anniversary (June 2022) will be my final post. +Hello! I'm currently a machine learning engineer working primarily on computer vision related deep learning research. So I have decent coding/math/ML prerequisite knowledge, but have zero finance background (unless you count an undergrad minor in econ). + +What's the best way for me to jumpstart a path toward algo trading? I've seen a bunch of job listings from finance companies looking for deep learning researchers, but don't really have an idea where to start learning how to apply ML to this domain. I just started reading the book Advances in Financial Machine Learning, but what other resources should I look into? I almost signed up for Udacity's new AI for Trading nanodegree, but figured it's probably very overpriced. Any direction would be greatly appreciated! +I'm building a system that creates a strategy with the chart data in the trading view. + +It sends data to the server through webhook and makes trades. +I read various trading-related books while making strategies and found out +the idea in most books (in fact, almost every book) was based on basic rules of trend following. +I also checked how Wikipedia has categorized investment strategies, +and there was nothing else that could be applied to spot trading except trend following. + +https://preview.redd.it/jqnwip40pod91.png?width=1917&format=png&auto=webp&s=d8b3e9ecc2a08143c75faa4998e7ca098728cc48 + +I'm trying to make strategies based on different ideas than Trend following from now on. + +Is trend following really the only answer when it comes to trade spot market with chart data? + +&#x200B; + +(For now, high-frequency trading, or trading with an AI Model is not my concern) +I'm searching for a free (or cheap <50$) Rest-API that provides historical stock data. 2 things are important. A small interval like 1,5 or 10 minutes. Access to 5, 10 or even more years into the past. + +I tried IEX/World Trading data/Stooq but they either provide small intervals but only for a few days or they provide a great range but only with daily prices. + +Maybe somebody knows a provider. +I'm a stats major, I've built GARCH models and I know how to cross-validate. But my one financial economics class taught me that trading isn't anything more than a 50/50 shot, unless you have insider information or a speed advantage like with HFT. i.e. "An index fund could out perform hedge funds over a 10-year period" and most hedge-funds tend to underperform... + +Clearly, I'm naive. Is there any thing you can suggest I read that debunks the idea that you can't predict the stock market, i.e. the random walk and EMH theories? Can most algo traders at hedge funds really make a profit in the long term? +Do you have any suggestions/savings products that would help it maintain or grow in value over the period? + +Thanks + +Edit: Thank you everyone that has commented. I’m going through the comments to see what is best. And will reply to everything. I’m grateful you took the time to provide advice. +Just got a text from friend that works for Caterpillar in Peoria. Told me there are a ton of LEO's and State police executing a search warrant. + +Anyone else know what's up? I see the stock has already taken a huge punch. +I don't even know who to talk to about this, but figured this is as good a place as any. + +My deepest desire is to become a Mom (either biologically or via adoption). I'm 41, so time really isn't on my side. I spent my 20s and most of my 30s building my career, and never found the right relationship. As much as the biological cards are stacked against me, the financial ones are on my side (well into comfortable FIRE territory, though perhaps not "fat" by all definitions). + +What I really want to do is have a child, retire, and spend my time raising them. I'm in this kind of holding pattern, waiting to see if this will work out (currently pursuing my first round of IVF), and not wanting to prematurely leave my career if it doesn't. + +I'm also deeply afraid that I might be doing this for the wrong reasons, or that I will hopelessly mess up my future kid. I think I have a lot to offer a child, though, including time. I constantly am checking myself to be sure that I'm not just doing this for selfish reasons, but then I think most people have kids for selfish reasons. + +Does anyone out there have any similar stories? I've connected with multiple "choice Moms" groups, so I have examples of that being successful. I know some people who are stay-at-home Moms (with the financial support of a partner who works). I don't know anyone pairing the choice to be a single Mom essentially with retirement. +I was in year 12 during the GFC and remember my parents struggling financially but I want to hear what it was like for investors during the crash. + +Not looking for "buy at the bottom... discount prices... Markets always bounce back... \*Insert Warren Buffet quote\*". All of those things are great in hindsight but I want to know how difficult it actually was hold onto that long term outlook, to hold on to your investments when they'd halved and not panic sell with the rest etc. etc. What psychological effects did it have? That sort of thing +I noticed in another thread about expenses that almost all the posts by parents had incredibly high monthly expenses even discounting mortgage/rent (~4-6k a month) and I'm wondering if this is an accurate representation or we just had a lot of Sydney-siders. + +How much would you say you spend per week on your child/children and what does this include? +Guten Tag to this global band of Apes! 👋🦍 + +This whole week has had some very interesting *intensity*, hasn't it? Not least in the how volatile GME's price movements have been. It could be the massive options date today, but it's almost as if the stock is just looking for a reason to break away on an upward run, but other forces have managed to contain it. + +Meanwhile, Apes DRSing shares continues to be the catalyst for such activity. Each share that moves to ComputerShare places more pressure on the institutional shorts as the resource they need most becomes more scarce. They *need* shares to borrow, short, rehypothecate, write options against, etc... As Apes DRS (in many cases also forcing their sketchy brokers to actually *purchase* the share they 'own') the dark pool volume goes down, and it demonstrates the impact that we are having. Do not worry - your DRS'd shares are still yours, and they are still your very own moon tickets. We will ignite this rocket together. + +Today is Friday, October 15th, and you know what that means! Join other apes around the world to watch infrequent updates from the German markets! + +###🚀 Buckle Up! 🚀 +*** + + +- 🟩 120 minutes in: **$182.37 / 157,19 €** *(volume: 569)* +- 🟥 115 minutes in: $182.17 / 157,01 € *(volume: 457)* +- 🟥 110 minutes in: $182.72 / 157,49 € *(volume: 342)* +- 🟥 105 minutes in: $182.85 / 157,60 € *(volume: 319)* +- 🟩 100 minutes in: $182.92 / 157,66 € *(volume: 316)* +- 🟥 95 minutes in: $182.89 / 157,64 € *(volume: 292)* +- 🟩 90 minutes in: $183.47 / 158,14 € *(volume: 277)* +- 🟥 85 minutes in: $183.46 / 158,12 € *(volume: 223)* +- 🟩 80 minutes in: $183.62 / 158,26 € *(volume: 223)* +- 🟩 75 minutes in: $183.24 / 157,94 € *(volume: 213)* +- 🟥 70 minutes in: $182.96 / 157,70 € *(volume: 184)* +- 🟥 65 minutes in: $183.66 / 158,30 € *(volume: 182)* +- 🟥 60 minutes in: $183.78 / 158,40 € *(volume: 171)* +- 🟩 55 minutes in: $183.88 / 158,49 € *(volume: 167)* +- 🟥 50 minutes in: $183.79 / 158,41 € *(volume: 156)* +- 🟥 45 minutes in: $184.23 / 158,79 € *(volume: 152)* +- ⬜ 40 minutes in: $184.25 / 158,81 € *(volume: 45)* +- 🟥 35 minutes in: $184.25 / 158,81 € *(volume: 39)* +- 🟩 30 minutes in: $184.33 / 158,88 € *(volume: 39)* +- 🟥 25 minutes in: $184.25 / 158,81 € *(volume: 38)* +- 🟥 20 minutes in: $184.33 / 158,88 € *(volume: 32)* +- 🟥 15 minutes in: $184.36 / 158,90 € *(volume: 29)* +- ⬜ 10 minutes in: $184.44 / 158,97 € *(volume: 13)* +- 🟩 5 minutes in: $184.44 / 158,97 € *(volume: 11)* +- 🟩 0 minutes in: $184.38 / 158,93 € *(volume: 7)* +- 🟥 US close price: $183.83 / 158,45 € *($184.10 / 158,68 € after-hours)* + + +*** +FAQ: I'm capturing current price and volume data from German exchanges and converting to USD. Today's euro -> USD conversion ratio is 1.1602. I programmed a tool that assists me in fetching this data and updating the post. If you'd like to check current prices directly, you can check [Lang & Schwarz](https://www.ls-tc.de/de/aktie/gamestop-aktie) or [TradeGate](https://www.tradegate.de/orderbuch.php?isin=US36467W1099) + +Diamantenhände isn't simply a thread on Superstonk, it's a community that gathers daily to represent the many corners of this world who love this stock. Many thanks to the originator of the series, DerGurkenraspler, who we wish well. We all love seeing the energy that people represent their varied homelands. Show your flags, share some culture, and unite around GME! +I like many others here just wish to share their progress. I'm excited about my journey and thankful to this sub for guiding me throughout. + +This is quite the fun birthday present. It involved a lot of luck and some hard work. I'm not going to come here and post about how much hard work this took for me, I'm just going to be honest. + +I inherited \~60k after my grandparents passed away, my parents gave me 15k for a wedding gift and I grew up in an upper middle class household with smart parents who influenced my career from birth and paid for my college tuition. I hope to do the same for my children. I'm grateful for the luck that's bestowed my life, its okay for me and people in similar situations to me to be excited about this stuff regardless. + +Net Worth: + +||Net Worth|Change| +|:-|:-|:-| +|2016|$63,813.08|| +|2017|$129,298.73|$65,485.65| +|2018|$171,254.68|$41,955.95| +|2019|$298,976.65|$127,721.97| +|2020|$402,677.42|$103,700.77| +|2021|$500,202.80 (EOY projected: $530,202.80)|$ 97,525.38 (EOY projected: $127,525.38)| + +Income Breakdown + +||W2 Income|Vested 401k Match|Other Income|Total Income| +|:-|:-|:-|:-|:-| +|2016|$91,718.69|$5,457.70|$1,634.72|$98,811.11| +|2017|$118,552.68|$8,675.08|$1,080.20|$128,307.96| +|2018|$129,737.72|$9,527.44|$1,387.29|$140,652.45| +|2019|$144,294.31|$10,453.84|$3,356.13|$158,104.28| +|2020|$153,254.19|$11,264.30|$25,368.59|$189,887.08| +|2021|$179,620.75|$2,780.94|$26,469.31|$208,871.00| + +Net, Expenses and Savings + +| | Total Income | Net Income | Expenses | Saved | +|-|-|-|-|-| +| 2016 | $98,811.11 | $ 71,922.62 | $ 44,175.75 | $ 27,746.87 | +| 2017 | $128,307.96 | $ 92,575.17 | $ 50,902.94 | $ 41,672.23 | +| 2018 | $140,652.45 | $ 104,307.23 | $ 60,266.19 | $ 44,041.04 | +| 2019 | $158,104.28 | $ 119,668.34 | $ 69,008.74 | $ 50,659.60 | +| 2020 | $189,887.08 | $ 148,021.03 | $ 116,284.58 | $ 31,736.45 | +| 2021 | $208,871.00 | $ 150,565.84 | $ 90,122.23 | $ 60,443.61 | + +Some notable things: + +I got married in 2020, expenses are arbitrarily high because of that. I had some unexpected one time expenses totaling like 10k this year and lost tuition reimbursement due to a new job so expenses are arbitrarily high this year too. I got lucky with amazon stock in 2017, bought 16 shares and am still holding today. This year I've been gambling a bit with meme stocks, started with 3k and I'm sitting at 17k right now, I have no idea if this will last. I also sold off some stock purchase program stocks from my old company with an 11k gain from the pandemic. This was awesome. + +Some of the "Other" income category include sold capital gains, wedding gifts (15k from parents 7.5k from guests) and credit card points/rewards from churning + +I've pulled back from trying to save as much as I can now that I have a bit of money. When I first started with FIRE I was a bit of a frugal jerk, now I'm a bit more generous. + +For this years numbers, my expected spending/saving shows that I'll save approximately 30k more this year. Expected net worth at the end of the year doesn't include capital gains. + +My wife and I haven't combined finances yet, we're still working it out, so until then we're keeping it separate. She has 80k in student loans, well now like 67k. I helped her pay off one of them ~13k with some stock gains and plan on paying off more of them in the coming years. She's able to get public ~safety~ service loan forgiveness for about 50k of them so we're planning and on track for that. + +Career: + +I graduated college with a sub 3.0 GPA, I wasn't focused early on and switched degrees after my freshman year. I wasn't able to get an internship right away and was forced to take an unpaid one for experience, I worked on the weekends and evenings at a non-career related job to sustain myself. This kind of kickstarted things, now that I had experience I was able to leave my GPA off my resume and get a paid internship. I found a love for writing software and got a part time gig during the semester for even more experience. This is what landed me my nearly 100k job my first year after college, I got enough experience to be useful. + +Since then, I've been investing in my career working as hard as I can to progress. I landed a job at Amazon, downleveled into a new grad level from the level I applied for but top of band salary wise. I'm also about to finish part time grad school with a masters in cs. I see Amazon as a foot in the door to more comfortable FAANG companies. I'm generally always investing in my career and myself. +Folks, + +Someone should do a sticky on this program. It is absolutely the best program I have heard of for buying a house when you do not have money for a down payment. I bought my first house this way. + +Here goes: + +HTTP://WWW.NACA.COM is a quasi-government corporation that was set up when Bank of America got busted for doing predatory loans. + +- No money down. + +- No closing costs. + +- Lower than average interest rate. + +- They will pay your mortgage for up to 2 years if you become cash strapped, and wrap it onto the back end of your mortgage (there is a small monthly fee for this). + +- They will give you extra money to buy a multi-family property since that type of property will provide you extra income (this is what I do - my rental income pays my mortgage). + +- It's the best way out of poverty that I know of. + +- There is a limit on how much they will lend you + +- You are asked to help support the program by advocacy (what I'm doing now) + +- I'm no longer in the program. + +It works like this: + +1) Go to the website and sign up for a seminar if they have the program in your area. + +2) At the seminar they will assign you a counselor. + +3) *** You'll meet with your counselor and give them access to all your financial info, they will track your income and expenses for 3 months to a year!!! This will determine how much money they can safely lend you. + +4) Buy your house. I suggest a multi-family, it will provide you with extra income. Over time, not only will your housing be providing you with income instead of being an expense, it will also grow in value and become your nest egg for your future. + +This is 100% legit, mods, please check it out. + + + + + + +What would be a good book to follow it? I am in college and don't have much extra income to invest so I figured I would take this time to keep learning so I'm ready when I do. I am interested in learning more about the stock market, real estate investing, and further exploring the concept of "paying yourself first" discussed in Kiyosaki's book. What have you read or done for your learning process and what would you recommend to me? + +Edit: Thank you for all the responses. I appreciate the diverse opinions of this sub and look forward to establishing my own educated opinion. +So my wife and I just had a baby recently. Of course I want the best for her and want her to go to college. I've been looking at 529s and they ALL project public 4 year colleges to be well over $200,000 in tuition. My heart shattered at that thought. I'm curious what everyone feels a good target number should be? Or if this is accurate? + + +I have my own student loans to pay and I want to use the 529 for early birthday money and gifts from family to boost it as well as monthly contributions. +I am mid 40's with no children and have a few expenses: + +Salary $80,000(cdn) +Wife salary $85,000 (cdn) + +Mortgage is $3000 a month with $600,000 remaining +No other debts +Credit cards are at $0 +2 cars and no payments + +Our next house would hopefully be in the 1.2 mil range but prices are insane so who knows +I'm considering an internal job offer I've received in my company - I'd really appreciate the community's help to consider it! + +The job would be moving from VP-level of the overall company to C-suite level of a subsidiary company. It would come with a shift in responsibilities that would make my CV a bit more well-rounded, and a bump in compensation of about $200K ($400 -> $600). I really enjoy my company and the people/culture, and I aim to spend the rest of my career here. + +However! The change would require a shift from being 100% remote to only about 40% remote; on days I go in, I would be commuting about 1.5 hours every day in total. We have two young kids, and my remote work allows me to support them and be present for a lot of activities and logistical obligations. If I were to take on this new position, this would need to be adjusted, possibly by hiring a nanny-type individual to support. Moreover, my wife has a very demanding job - she works quite a bit and doesn't have the same flexibility that I do. However, her job also pays extremely well - she currently makes about $800K, and this number will increase by approximately $100K per year until her mandatory retirement at 60 (we are both 40), with a hefty pension tied to it. Regarding lifestyle, we're pretty comfortable - we built a house several years ago that is our "forever house," and we don't envision that changing. No desire to own any vacation properties, and our only debt is a 2.5% jumbo mortgage. The only major expenses on the horizon are our two kids' college tuitions, which will begin 11 years in the future. + +Our monthly expenses average about $30K, and our target number for retirement is $25 million at 60. Assuming very conservative figures - 5% investment growth and 3% inflation for those 20 years, this is a little bit of a stretch assuming I stay in my current position, but doable, barring any substantial speed bumps in the meantime. + +So - should I take this job? The money would be nice, but there's more to life than money! I foresee this potential move as a new and exciting challenge, but I'm not sure that the costs to the family would outweigh the benefits of my own personal career satisfaction. + +Thanks in advance for sharing your thoughts! +Alright I'll try to keep this short and sweet for all my sweet bb apes. I approached Dr. Susanne Trimbath on Twitter about doing an AMA, and u/StonkU2 has been vital and central to communicating with her and setting this up. If you look at [her twitter](https://twitter.com/SusanneTrimbath?s=09) you can tell she is not only interested in what we have to say, she is loving interacting with us! + +I want to throw out there that Dr. Trimbath is familiar with message board and chat room culture. (A/S/L anyone? 🤣) She is what the youngsters among us would call **OG**. I for one am so stonked to have someone of her caliber spending time to talk to us. + +So as moderators, we are respecting hers and everyone's time by using a controlled format, with our very own u/atobitt facilitating the conversation. I do not want to give too many spoilers, but please know that the moderator team is diligent about making this a clean and presentable interaction that we all can learn from, grow with, and look back on as a resource. I want to stress that *we will be using curated community AMA questions as usual*. We are just going with a more streamlined and professional format, with a trusted and respected ape presenting the conversation. 💪 Details tomorrow 6 AM EST in my Superstonk daily post!! + +Now... having gotten the business out of the way... WHO WANTS A CUSTOM FLAIR?!?!🦄🦄🦄 + +&#x200B; + +https://preview.redd.it/r3yjgb0r0dv61.jpg?width=599&format=pjpg&auto=webp&s=d18900d022afe14d2e7cd71274df182dbee9c2f0 + +I frickin love you guys and I promised this would be one of the first things I'd do as mod. Time to give you dipshits some name tags. + +Drop a comment with your desired flair below **KEEP IT CLEAN OR YOU CAN'T HAVE NICE THINGS!!** And stay groovy Baby ✌💗🐈🦄💎💅🚀🚀🚀 +A lot of us just can't do it. Health issues or just aren't handy that way. Or the car has extensive issues that needs a skilled mechanic. + +Hey, all you home mechanics, you want to sew a sweater? It's a different skill-set. + +I'm also tired of rice and beans posts. I hate rice and beans and I don't care how much you spice it up, it is still rice and beans. +I have been in a semi-retired position for the last couple of years. I consult and do trading on the side, making roughly $200k/year. I have about $5M net worth, including my house (no mortgage). I’m 54 years old. + +I bought a second house two years ago to use as a rental, and I paid cash for it. Now that I know what I want to do to it, I’d like to put a mortgage on it. However, my income is pretty low, and I don’t even get W-2s now (I’m all 1099). + +I was shot down recently by a credit union that didn’t even ask about assets, just income. But I’m curious, how do you all qualify for credit once you’ve FIREd? +Hello Reddit, I'm HowItrytoFI and I'd like to share my story as it is so far, this may be a longish read, tl;dr at the bottom. I am not a high-wage tech earner, I'm just some dude in middle America trying to make it by and I'm proud of myself so far. + +From a very early age financial responsibility had inadvertently been instilled into me - mostly from my parent's fighting and then eventually divorcing over what seemed like money issues to me as a child. I always had a mindset of financial scarcity and I very quickly became miserly with any money I had. This has become something of an unhealthy obsession and it is something I'm still working on fixing with myself. I currently have never earned more than $16.50/hr full-time and I managed to purchase a house in a rapidly growing market and saved what I believe is a considerable amount for retirement for my age and income. + +====The Beginnings====My working career began when I was 16 at a local Taco Bell. While I was living with my parents I saved nearly every bit of my paychecks until when I was 17 and ready to move out for college I had about $5,000 saved in my checking account. I continued working this job, full-time college, and living with friends until my second year in which I had a small mental break; I quit my job and spent all of my money and then some on bills and living just to try to make it through the school year. During my third year of study I got a new job as a waiter at a small restaurant - the job wasn't stressful and I made good enough money to sustain my bills, but not much more but that was okay with me. My best friend and I started to explore topics of wealth and how to get ours but we were just wishful-thinkers at the time without a plan. It wasn't long after this point though that I had met with a good friend who was peddling insurance with northwestern mutual, I was 20 years old and he was honest and upfront about everything but even though I was being sold on cheap life insurance so that he can get a promotion - he gave me a lesson that was worth admission; he taught me about a lot of financial vehicles, investing, and retirement and gave me book recommendations. Meeting with my older friend unlocked a fire in me I did not previously realize and I owe a lot of respect to this guy, he changed my perspective immensely. + +====Starting Young Adulthood====During my fourth year at school I made perhaps my largest mistake and biggest regret so far, I quit school to enter a laboratory job I *thought* I wanted. I dropped out of school with four years of student loans strapped to my back and no degree ($15k+, would've been more if I didn't have FAFSA and some grants to help offset the costs) to enter a job where I would start making a measly $14/hr with many *"promises"* of promotions and wage increases. What's worse is I allowed this job to carrot-and-stick me for 5 years as I thought I was going to be a directing manager at a new location the business was opening up; that turned out to be a lie once the timeline got closer. Regardless of my job, it paid just enough that my ex-girlfriend and I were able to save some money here and there. When I was 22 I opened my first brokerage account with Robinhood and started losing money immediately, which was great honestly. It immediately taught me to not trust [r/wallstreetbets](https://www.reddit.com/r/wallstreetbets/) with my hard-earned money, a fairly cheap lesson was learned. I read more into investing and redirected myself to buy VGT and VOO primarily and that set things straight. It was around this point that I did everything in my power to save every extra dollar I could and skimp on spending where possible even though it was uncomfortable for us. My ex and I got on the same page financially and we began to save EVERYTRHING and within two years we had accumulated just about $17k which we used as a down-payment on a live-in fixer-upper, which was DIFFICULT to say the least. + +====Moving out====So I'm 24 (and earning like $14.75/hr now) and my ex is 25 when we went under contract to buy our broken little rural home (1000sq ft on 40 acres). We were trying to use an FHA loan so the down payment could be more affordable but due to their strict living requirements and the home being sold as-is we had to take a leap of faith and repair many things prior to closing. We had to get a new roof, a few new windows, fix the skirting of the house, and get a few foundation fixes, totaling around $12k in repairs before even closing. This was immensely stressful for us as we weren't positive that we'd be guaranteed the loan and the property. Every step of home buying and ownership was very tough and expensive for us. Over time I made significant repairs to the house, essentially a full interior renovation and I built a shed and fixed up the animal structures. We stayed ever optimistic with the home though knowing that the housing market has been very strong and that our labor would be well-rewarded. We worked on and lived in the home for 4 years as it was a very affordable mortgage payment and the house was becoming more comfortable with renovations. + +Still 24, I opened a Roth IRA and promised myself I'd do everything I can to max out that account every single year, which started by me liquidating the rest of my Robinhood account and moving it to my IRA to accomplish that goal the first year. I am proud to say that I have been successful thus far in that goal and that has helped me feel a much needed sense of security knowing that future me will be happy of my past self's actions in this regard. I made a mental goal that maybe I could reach $100k in value by the time I reach 30 around this point in time, which I felt was an extremely lofty and unachievable goal, but a goal to strive towards nonetheless. + +====Where I am currently====Four years later and I'm now 28 years old (Earning $16/hr, I took a pay cut for better benefits with a different job). By this point my Roth IRA balance is almost $60k through contributions and growth. This is also the first time I have had access to a 401K and HSA, in my first 6 months at this new job I saved about $4k between those two new accounts and another $3k in my IRA. Overall I tend to save about 30-40% of my income and I live my life *extremely* frugally with my eyes set on financial independence. Since you can either earn more money or spend less, I chose spending less since I have a difficult time earning more money and that has had many negative mental health effects as I choose to forgo simple pleasures. + +You may have noticed I said my ex-gf and I-... Unfortunately we made some poor decisions that led to our relationship ending just over a year ago but it's important to my story as it changed my current life trajectory tremendously. Without going into a lot of detail of the relationship, we started dating another person. This worked great until, of course, it didn't. New girl in the relationship didn't like me but chose not to make that apparent until far too late which wound up breaking the relationship. My feelings are irrelevant but this dynamic really changed things up for me. When the relationship ended and the girls left I requested for my ex to sign a quit claim to absolve herself of home ownership with me. + +I eventually sold the home as it was too much work to commute and maintain so much property and animals just by myself. Selling the home net me about $160k in profit, add that to my other accounts and I'm sitting just about $200k which has led me to right where I am today. I purchased a small RV for me and my dogs and I'm about to take some time off from life to experience things I have postponed. I plan on buying a multi-unit home and renting out whatever possible while I gallivant in search of my new path. Even without my ex's portion of the home I would still be looking at over 120k of personal net-worth with her having her portion in an alternate-reality but things unfolded differently for me and her. + +In the years leading to where I am currently I feel like I've changed from an intense scarcity mindset to one of abundance and it's just a matter of grabbing the crumbs that fall from the table. I'm still quite miserly with my money and I have a hard time spending, it is something I am keenly aware of and try to overcome. One way I've attempted to make this better is by donating and gifting money. I've donated to a few charities that support things I agree with and by giving to a couple of people I know who were in particular need of help. It's still a difficult ask to get me to part ways with my money but my mental well-being and time on earth depend on me being a better person for myself and all those that I interact with. + +====Where I am going====I have no honest idea. For my next update you will hopefully read that I do indeed own multiple cash-flowing units and that I might have a new, higher paying job and that I'm another step closer to financial independence. In the meantime, however, I will allow life to serendipitously do what it wants with me while trying to not squander what I've worked so diligently to obtain. I'm taking this year to experience and reevaluate. I'm only a few days out from embarking on my RV road trip with no destination with my dogs and ready to see what the greater world has to offer to me. + +I wish everyone the best, while I know my path isn't necessarily replicable, that isn't the point. No one directly follows in the footsteps of others, everyone is on their own path and it's important that you know how to keep walking on your own. I love this community and you all help me make sense of how money affects us. I will continue to max my Roth IRA with my home proceeds for the next couple of years for my retirement account's sake but other than that I do not have much planned. + +tl;dr +\-16 y.o. earning $7.25/hr, no meaningful networth +\-19 y.o. earning near $20/hr (very part time), -$10k networth +\-22 y.o. earning $14/hr, -$15k networth +\-24 y.o. earning $14.75/hr, purchased a live-in fixer-upper ... Started IRA and maxing it out +\-24-28 y.o. earning around $15+/hr, networth finally positive with home equity appreciation, \~$50k networth +\-28 y.o. earning $16/hr, sold my fixed-up home and profited 160k, \~$200k networth (\~$55k in Retirement, rest is currently cash, I will try to buy rental units with that cash) +\-future me, hopefully earning more, hopefully a higher networth + +Thank you for coming to my Ted Talk. Go forth and be excellent. +I hope the mods allow this post because I'm sure there are some people who would like to hear this. + +I sold all of my GME, BB, NOK, and AMC this morning. I used the money from selling these stocks and invested it into SPY and VOO (3 shares each). + +Having to wake up every morning and check my phone to see how these meme stocks are doing and worrying about whether they would make me or break me just wasn't good for my mental health. I decided to end it. + +I did lose a significant amount from these meme stocks but my portfolio is still worth money than all the money I've transferred into it. Just goes to show the importance of keeping a diverse portfolio. + +I feel at peace now and I feel like I can just enjoy life. + +If you are still holding GME and AMC, I wish you the best. +Does that mean that, despite how horrible inflation is in the US, that it's worse in Europe? + +Are Europeans having a tougher time than us right now? Both as consumers and as individual nations? + +Also, I don't think I've had the chance to talk with anyone in particular from across the pond but what is the housing market actually like over there? + +Thanks, I'm new here. + +TL:DR Twitter is popping off about how crazy the Euro is and I'm missing the broader significance :/ +Hey everyone, + +&#x200B; + +I'm in my upper twenties and my recent birthday lit a fire in me to get more serious about my financial future. I graduated from college nearly debt free in my early twenties but did not have a good job with benefits until recently. This led to me feeling like I am behind the curve of where I should have been had I gotten a good full time job straight out of college. I do have two rentals and a 401k (investing enough to get full company match) and pension (will be vested after 5 years) but I still feel as though I wasted ten of the most important years of my life in terms of financial investments go. I want to make up lost ground in my thirties and I want to avoid pitfalls that you may have encountered. What mistakes did you make that you would tell other about? What do you recommend for people like me who are late to the game that could help me make up ground? Appreciate your advice. + +&#x200B; + +EDIT - Great advice guys. I upped my 401k contribution to 10% and I started an IRA on Vanguard (i think). I put that I wanted to invest $2000 (all I can spare right now). Vanguard is showing me that I have a Roth IRA account but is the money actually in it or do I have to move the money from my market settlement fund? +Bitcoin has benefited greatly from the “digital gold” branding. Easy to understand, and importantly, easy to understand why it might be valuable. + +Describing Ethereum as “programmable money” or “smart contracts” or “a platform for decentralized apps” is just going to get blank stares, and won’t instantly clarify why Ethereum is so valuable. + +“Internet 2.0” accurately captures the ambitions of the network and community, and clarifies we’re talking about something that can be mainstream and big. + +EDIT: I hear those saying Ethereum is Web 3.0. Yes you're technically also correct, but "Internet 2.0" will turn on the light bulb much faster than "Web 3.0". Many people don't necessarily relate to "Web" (lay people talk about the internet these days, not the web) and they certainly don't relate to "Web 2.0". There's a compelling argument that Ethereum is bigger than Web as well. +I missed on the crowdsale but I've known about Vitalik since "Rise and Rise of Bitcoin" + +I knew this person was something special and I trusted whatever teammates he settled on. I got in back in sometime back Q4 2015. For reference I'm not a whale. Just a believer and fanboy. I like all the different people and styles of folks here in /r/ethtrader. I don't consider myself technical enough for /r/ethereum but I try to read and understand what I can. + +--------------------------------- + + + +My friends and I in Ethtrader back at $6-$7 were sitting in canoes rowing through the blood in here....Man it was truly sad around here too....no lie. Tone in a post told the story. I was the only one laughing at my stupid jokes. (not much has changed in that regard) + +------------------------------------- + +What a scene in here...Cats were wailing on the rooftops and the trolls were shooting down any crows they could see pickin' at the carcasses of despondent traders. Barry Shill was Shilling and all the maxi-pad-alists were coming in from the woods to prey on the weary. Chris DeRose even trolled my YouTube channel. Me? LOL....I'm no whale...but I remained calm and nice and wished him all the luck in Bitcoin. I don't hate Bitcoin...but I just couldn't understand how people could be so cruel to this fantastic development team. + +------------------------------------------ + + + Everyone including me had a 1000 Finney stare. + +------------------------------------------- + + +I'm pretty resilient to despair though and I've found that humor is pretty good medicine. I have to thank my dad for that. My dad has a great sense of humor. I got my sense of humor from him and the hair on my back from my mom. + +------------------------- + + +We buckled up and watched the progress. Soft Forks, Hard Forks, Sporks, whatever Github releases big and small, we read it all. We knew. + +-------------------------------- + + +We knew the price is only part of why we're here and remembered there's a team of people whose main role is rockin' the code. Just remember this team is full of badasses. They did bitcoin stuff and got tired of bitcoin stuff and decided to do something about it. They keep chuggin' and churning out at an alarming rate. All of us that stuck through this and bought down from ATH and were sitting in that canoe were listening to the team. And now there is a real network effect of development taking place. Betamax and VHS. Take your pick. + +--------------------------------------- + + +Now the price is up and the sub is going through the next phase and all you newcomers PLEASE understand this sub is loosely moderated and relaxed for the most part. There are some very knowledgeable plain spoken people. HOWEVER there are bad days too. The best part is that a bad day in here is better than every other bitcoin sub I've ever scene. Then again...I'm curious what a $100 ETH is going to bring out in people. Greed is Greed. We've been a pretty happy bunch for the most part. Euphoria is returning and it's healthy. But just know we WILL have another round of FUD come rain in on a correction. 10,500+ traders is surreal growth. We've grown so fast...**SO** fast. + +---------------------------------------- + + +Please consider others in here as if you are talking to them in person and rarely use that downvote button as a means to disagree. It's just the right way to be. There are an incredible range of ages in here. + +---------------------------------------- + +Thanks to Bitcoin and the early supporters for giving the Ethereum team the funding and good luck on the ETF. The world is benefiting and the boats are rising. EthETF is just around the corner if Mama B gets her way. + + + +Cheers and Hugs from KC. +My partner and I were recently talking about how retirement planning would be so much easier with legalized assisted suicide. Right now, many people are saving so they never have to draw down on principal. Of course, some of that is because they want their kids to have an inheritance, but I think a good chunk of those people do it because they are scared to run out. If there were a safe, de-stigmatized way to say “I am saving to live to 90 because I know I will only live until 90” people would be able to retire much earlier. The whole idea of working your whole life just to afford to be a comfortable vegetable for the last few years is crazy to me. + +Edit: ya’ll are really caught up on the choice of 80 years old. You could obviously pick the age. Or make it until you need to stop living in your paid off house. I’m going to change it to 90 above to just stop getting the same comment. + +Second edit: it’s been really interesting reading these comments which span from “you’re sick” to “I totally agree.” I personally think Americans are too caught up in preserving life just for the sake of preserving it. If your quality of life is bad, there is no moral obligation in my book to hold on. In fact, I think a lot of healthcare companies get rich by perpetuating that myth. It seems like leaving on your own terms is in fact anti-capitalist, but I see the opposing view. +Link to article: [https://www.nytimes.com/2006/08/27/weekinreview/27leonhardt.html](https://www.nytimes.com/2006/08/27/weekinreview/27leonhardt.html) + +&#x200B; + +***My commentary follows:*** + +&#x200B; + +>Financial bubbles rarely meet with such a definitive end, which has always been the biggest problem with the metaphor. They let out their air in unpredictable bursts, and it’s usually impossible to figure out whether they have finished deflating or are just starting to. + +Perhaps this tells us a lot about being overly confident in both the bull and bear hypothesis. + +>A real estate crash might not be the most likely outcome, but it certainly seems legitimate to think about what one would look like. + +I wonder if the author got scolded by readers after posting this because house prices only go up? + +>The collapse of most bubbles does not have a single obvious starting point, like a bad corporate earnings report or an interest-rate rise. Instead, the psychology of buyers and sellers shifts, slowly at first and then sometimes in a cascade. + +This is a really interesting argument. The bulls have had a wonderful decade and have found themselves in arrogant charge over the narrative. A lot of users on here legitimately believe that house prices can never fall. I wonder if their psychology will ever change. + +>The doomsayers’ strongest argument may be that too few families can afford prices in some metropolitan areas. In Las Vegas, Los Angeles and Miami, prices have almost doubled since 2003, and they have risen about 50 percent in New York and San Francisco, the National Association of Realtors says. + +The same arguments were being proposed in 2006 - housing becomes unaffordable leads to unsustainble bubbles. We've seen +50% gains in some areas of Sydney in a year alone. + +>Jumps of this magnitude have little precedent. To afford homes, some buyers, especially in California, have resorted to aggressive mortgages, like those that allow artificially low payments in the early years. In effect, families seem to be buying houses they cannot afford, in the hope that their incomes or property values will rise significantly. + +Replace 'California' with 'Sydney'. + +>Even homeowners not in danger of losing their home — an overwhelming majority, certainly — might respond to falling prices by cutting spending, particularly if they had been counting on their home’s value to serve as a retirement account. That could force job cuts in a wide range of industries. + +Another relevant point. + +>Perhaps the biggest reason to be skeptical about a real estate crash is that the country has not really suffered through one before. Not since the Depression has the combined value of residential real estate fallen over the course of a full year. Homes seem to be much less vulnerable to crashes than other assets, because people rarely sell them in a panic. + +Then the whole "*past performance doesn't dictate future performance*" reality comes around the corner in an angry rage and slaps you across the face so hard you collapse. + +>But earlier booms have been followed by modest price declines in some cities that turned into long periods in which increases trailed inflation. After peaking in much of California and the Northeast in the late 1980’s, house values fell during the recession of 1990-91 and then drifted for years, often rising more slowly than the price of milk. +> +>In inflation-adjusted terms, prices in the New York and Washington areas did not return to their late-80’s peak until 2002. In Boston, it didn’t happen until 2000, and in San Francisco, 1999. + +Completely and utterly pointless. Past performance doesn't dictate future performance. When will people learn? + +>Interest rates could play a role in a long slump, too. They have been falling for much of the last decade, helping push house prices higher by allowing buyers to afford bigger mortgages. Most economists expect rates to remain lower than they were a generation ago but not to return to the extremely low levels of a few years ago, making big swings in house prices, in either direction, unlikely. + +Low interest rates and bubbles. Hmmmm how very interesting. + +>Christopher J. Mayer, director of the Paul Milstein Center for Real Estate at Columbia University, argues that the recent drop in sales does not suggest that a larger bust is coming. “So far we have only seen people asking pie-in-the-sky asking prices and not getting them,” said Mr. Mayer, who expects housing to continue slowing but not enough to create a recession. +> +>He believes that the boom in house prices was largely a result of the appeal of “superstar cities” like New York and San Francisco that are unlikely to lose their allure. In much of the rest of the country, prices are not unusually high, considering the relatively low interest rates. + +Replace the words "New York and San Fransisco" with "Sydney and Melbourne". A lot of people think because Sydney is oh so desirable, the world will drop everything they have to buy all the overpriced sh\*thouse apartments with collapsing balconies. + +>Moreover, few borrowers are falling behind on their mortgage payments, and the economy looks fairly healthy outside of housing. So if prices start falling, new buyers may jump into the market and prevent any extended slump. “The fundamentals of real estate are solid, still,” said James Gillespie, chief executive of Coldwell Banker, the real estate company. + +This is such a common talking point in r/AusFinance. It's really funny to see how people on r/AusFinance sound exactly like American real estate agents 15 years ago. It's almost like they're reading from the same script of excuses. +Last week, I was playing around with the idea of making a flow chart that would be more in tuned with the FI community. I wanted to improve the /r/personalfinance [flow chart]( https://i.imgur.com/lSoUQr2.png) on some aspects and have the FI flow chart go all the way down to the withdrawal have a continuation into the withdrawal strategy, but to be honest, I have not read enough to finish the flow chart. I thought I would ask for help from the community. + +I currently have [version 1.3](https://imgur.com/a/MXKlxKa) and would be open to any suggestions and improvements. Near the end of version 1.2’s flow chart, I have begun to think that the accumulation (boring middle) phase would be its own flow chart while the withdrawal phase would be another flow chart. Thoughts? + +Edit 1: I tried to capture as much as I could and updated it in [Version 2.0](https://i.imgur.com/pyKHXuy.jpg). I'm sorry for those on mobile, I'm not sure which link I should be doing to best see on mobile. I also like the fact that the HSA is before the IRA as some FI commentors mentioned. I also added the beginning of the personal finance flow chart to make it a more complete picture with different interest rates embedded in the flow chart. Please keep in mind that I'm doing this during my lunch break so there may be some mistakes here and there. + +Edit 2: I think I found out how to link directly to the image for mobile users. [Version 2.0](https://i.imgur.com/pyKHXuy.jpg). +I’ve visited it yesterday when it first popped up on Reddit. It went through some weird redirects in the URL, some started with with a string “data:” which could be used to do browser hijacking. Now it goes to a different URL than yesterday, even more suspicious. Please be care and/or don’t checkout the URL till it’s verified by more wrinkled apes. +Hey, + +I currently owe about £242,500 on a mortgage, payments are about £1100 p/m, fixed rate coming to an end and the bank is not allowing me to get a new fixed rate. Interest rate is going to jump from 1.72% to 4.24%, costing me an extra £300 p/m in interest that I can't afford. There is also rumblings all over the news that the BoE will increase the base rate to 3%, which would result in my mortgage interest rate being something like 6.8% or £1780 p/m.Currently approx £5000 arrears that built up during COVID from being furloughed. + +I've already spoken to a broker and I can't remortgage elsewhere due to the arrears, so my curent lender is going to end up repossessing if I don't keep up with the new payments, and it feels like a scheme trying to get more money out of me. + +&#x200B; + +Is there anything I can do? +When people ask me why I invest in crypto, I usually start ranting about why it is such a groundbreaking technology and the implications for potential profits, but the real reason I invest has nothing to do with money. + +I think of each dollar I convert from fiat to crypto as a step towards my own personal emancipation from, what I understand to be, the most diabolical and sinister of all tyrannical levers of power: central banking. + +When I first discovered bitcoin in 2012, I immediately knew it was going to be the investment of a lifetime. I didn't really understand the tech at the time but I fully understood the political implications of a store of value that is not subject to the whims of academics and bankers. + +For the first time in history, a unit of value that is stateless and uncensorable can be transmitted peer to peer instantly without any banker middlemen charging for a fee, net loss to the sum economic output of a nation. Unleashing that siphoned capital for truly productive endeavors has profound implications for the advancement of humanity as a whole. + +I invest in crypto as a political statement; as a vote against a system that I cannot change but one that I can now peacefully and voluntarily opt out of. It is a vote for freedom, and to me, that is more valuable than any amount of profit imaginable. +Closed few $380/$200 spreads for a quick credit of $5,803. Sent $200 to ten different Charity Navigator 4/4 star nonprofits and sold a $27 cash secured put for the lulz. + +&#x200B; + +https://preview.redd.it/mb4gukgurmf61.png?width=1682&format=png&auto=webp&s=d83ba3ad0889830b5650c32571e5981f3d470550 + +&#x200B; +I’ve only been using theta strategies since April 2020. IV has been high since then so I know the party will eventually end or at least get more somber once IV returns to pre-pandemic levels. + +For the longer term wheel veterans out there, what were your strategies before march 2020 and what sort of returns did you get compared to now? +**DISCLAIMER: This is for educational purposes only. The values shown are from the Tastyworks platform. Your broker may display different values.** + +**Breakdown:** + +*The following stocks were selected in order of IV Rank. There are better options out there. Strikes and deltas can and will change. Adjust according to your risk tolerance.* + +*Mid Price:* Average of the bid/ask for both contracts. Usually, you will have sacrifice a couple cents to get filled closer to the natural price. + +*Max Profit:* Mid Price - Commissions. + +*BPR:* Buying Power Reduction. The amount of capital required to take the trade. + +*POP:* Probability of Profit of closing out the trade for $0.01. + +*POP50:* Probability of Profit of closing out the trade for 50% of the max profit. + +*Delta:* Total delta of the trade. + +*Theta:* Total theta of the trade. + +*Target:* Target percentages to close the trade (Close the trade at 25% profit, 50% profit, etc.). + +*ROC:* Return on capital calculated by - (MaxProfit/BPR)\*Target\*100 + +&#x200B; + +&#x200B; + +https://preview.redd.it/nrbvyb4cqrw41.png?width=706&format=png&auto=webp&s=575a50e5f0a6689cf9146c436a741624604ade78 + +https://preview.redd.it/p5wjlc4cqrw41.png?width=706&format=png&auto=webp&s=5c9f7184c4465b21b4b234d4334bf17e5df57f96 + +https://preview.redd.it/mthdkw4cqrw41.png?width=706&format=png&auto=webp&s=dabf03976d510359519b4040c2d967ff2c8875b2 + +https://preview.redd.it/tybrgi4cqrw41.png?width=707&format=png&auto=webp&s=c1a3e687fcdbaa83cbf87a255a9e27ca2db7ba65 + +https://preview.redd.it/lx70ue4cqrw41.png?width=706&format=png&auto=webp&s=997d82b11fd739313aa5afdb941758d437b02ada + +https://preview.redd.it/9htfjf4cqrw41.png?width=705&format=png&auto=webp&s=9c3326a1dfc2037322ea67875605a62479b2746f + +https://preview.redd.it/t9steg4cqrw41.png?width=702&format=png&auto=webp&s=8f4735e0194dedfd6ed108c24ade1624de5d0c30 + +https://preview.redd.it/yf0rui4cqrw41.png?width=707&format=png&auto=webp&s=6a185ef9916adeca3b5135a2fc59c0a80ca40b89 + +https://preview.redd.it/iiuchi4cqrw41.png?width=706&format=png&auto=webp&s=c2939762f3f167ea220ddb67055cb85c73f8898c + +https://preview.redd.it/pb448e4cqrw41.png?width=705&format=png&auto=webp&s=ae30bf1d8975553be5445f057fb2645e0fd879a8 + +[I included a bonus one. Enjoy!](https://preview.redd.it/rb15af4cqrw41.png?width=707&format=png&auto=webp&s=109bcdfcc5a6b5920f1be64a66c462f53fe0193b) + +&#x200B; + +[Download Link for the Template Used](https://drive.google.com/open?id=1s92zQVJHE2xwS9xjgNwcWhQfag9czY7j) + +**These values are subject to change. They were calculated on Monday May 4th. ETFs are less exposed to massive swings than individual stocks, so they may be a better alternative. Understand Max loss is UNLIMITED. Short strangles require proper management which includes knowing when to close/how and when to roll. Risk can be defined by buying further OTM options, just know it will affect all of the values shown. As a rule of thumb, any position should equate to 1-5% at most of your total capital. Trade Responsibly. I do not condone trading short strangles on smaller accounts, this is for educational purposes only.** +Joel Tillinghast, a once-legendary portfolio fund manager and former colleague at Fidelity, sometimes describes retail apparel investing as "momentum-based". After all, when it works, you look like a genius: people throw $20 bills at you in exchange for flimsy cotton shifts that cost $3.50 to manufacture and $5 to market. Every appareler is convinced they have the Midas touch, and [when it stops working](https://en.wikipedia.org/wiki/Forever_21), the public reacts to the your brand as if they'd awakened in some haze: "Why did we buy this stuff to begin with?" consumers wonder. "Why did we give this thing such a high multiple?" investors wonder. Somehow, we never learn the lesson with apparel, and so the cycle continues. + +There's a subtle distinction I'd like to make, though. While "momentum" is a good first-order approximation, it doesn't really describe what's actually going on: a realization gradient. Consumers over time realize the social capital that's being conveyed through apparel, and buy it because they come to an understanding. The realization gradient works both ways: some consumers are less quick to realize the death of a brand, but they eventually catch on and stop buying as well. The belief that apparel is a random walk down human preferences isn't accurate: rather, the social-capital zeitgeist shifts over time, and brands that are well-positioned to trade on that social capital do well. + +Victoria's Secret (owned by publicly traded Limited Brands) is entering the negative realization death spiral. The clothing is now perceived as uncomfortable, overpriced vs alternatives, and promoting unhealthy expectations. Les Wexner's [Epstein connection](https://www.vox.com/the-goods/2019/7/10/20689134/jeffrey-epstein-les-wexner-l-brands-victoria-secret-limited) is certainly not helping. The optics are horrendous. What was once sexy is now complicit. Worse, there are far, far too many competent competitors. Let's review. + +Gap Body has been exceptionally successful at targeting lingerie "basics", Journelle and Nordstrom round out the midtier, and Agent Provocateur and La Perla round out the high end. + +[Link to lots of women in lingerie. For science.](http://theyieldblog.com/l_brands) + +Don't even get me started on the infinity of online competitors -- Adore Me, Panache, Hanky Panky, Heidi Klum Intimates, Mapale, Yummie, Addiction Nouvelle, Parfait, Le Mystere, Montelle Intimates, Giapenta, and Cosabella turn up with a few seconds of searching. Victoria's Secret is deader-than-dead, and worse yet, has massive operating leases and a fleet of retail sales associates that will accelerate its demise. To be honest, I've never understood how lingerie at Victoria's Secret became such a dominant in-store purchasing phenomenon to begin with: the shopping experience for men is at best awkward, and for women the brand is currently perceived as regressive, uncomfortable, and sexist. I'd also argue that the competition is broader than we realize: various athleisure brands fulfill a similar body-positivity drive while mitigating any feelings of being [complicit](https://www.forbes.com/sites/pamdanziger/2018/11/25/thirdlove-tells-john-mehas-how-to-fix-victorias-secret-in-full-page-new-york-times-ad/#292449f72285). Limited Brands will of course cut non-performing VS stores, but the question is how fast? + +There's an inherent tension between bondholders and equity holders here: Les Wexner owns 17% of the outstanding equity, his wife owns another 5%, and will issue dividends until it becomes [fraudulent conveyance](https://www.investopedia.com/terms/f/fraudulentconveyance.asp) to continue to do so. The fact that any dividends are being issued while a). the company needs to cut leases b). the company holds >$5bn in debt yielding 6%+ and c). sales are imploding demonstrates either incompetent corporate finance or denial on the part of Les Wexner. If US creditor protection were stronger, bondholders might be able to fire off warning letters now asking Limited Brands leadership to start cutting leases, paying down debt, and halting dividend issuance. As it stands now, the only thing bondholders can do is sit back and record grievances until Chapter 11 gets filed. + +I see only one way Limited Brands can pull itself out of this mess: Grow Bath & Body Works fast enough to offset Victoria's Secret losses, and cut VS costs rather than trying to save a dead brand on the wrong side of the realization gradient. On Bath & Body Works: + +*"Their target is what we call the mastige segment," she continues. "It's not prestige and it's not mass—it's really about figuring out this niche of very American-centric shoppers that wants a notch above drugstore brands, but are still quite conscious. They don't want the prestige segment, which is where the Estée Lauders and the L'Oreals of the world play." A compelling factor here is the price point. The largest size room spray (5.3 ounces) is only $9.50; foam soaps are $5.50; fragrance mists are $14. You can buy one item from every major category and barely spend $100. Kang confirms that's a huge part of the appeal. She says the diehard fan "is someone who just absolutely loves fragrances, and sees fragrance as an essential part of her lifestyle." She adds, "A lot of our customers actually own multiple fragrances, and they engage in fragrance the way that they do other fashion items in their life. It's a way to accessorize their style. It's not this sort of serious, deep-commitment kind of purchase that you see with a more traditional model in a department store."* + +1. I once mistakenly stayed in the AirBnB of what I at the time could only describe as a "crazy candle lady" who burned a different scent every 6 hours. It's a little bit sad that corporate marketing accords more nuance and empathy to their customers than anyone else ever would. +2. Bath & Bodyworks' product is defensible: most "nice things" are expensive for most Americans, whereas Bath and Body Works offers an affordable, guiltless, if synthetic form of self-care. The guiltlessness of the brand is the ultimate growth driver: its products are sweets-adjacent (notice how many of the candles below are food-oriented), and inexpensive. Most activities I personally enjoy are either expensive enough to induce some amount of guilt, or unhealthy enough to do the same. There are almost no "free pleasures" -- an inexpensive scent from Bath & Body Works might be one of the few. I think this is ultimately what's giving Bath & Body Works its incredible comps, and being scent-based, it's of course naturally resistant to online competition. + +[Limited Brands Financial Model](http://theyieldblog.com/l_brands) (Link to financial model) + +Here's a model of my best guess of what will happen (click on the image so you don't have to squint). There are a couple noteworthy things here: + +1). VS has not yet signficiantly cut non-lease SG&A -- in fact it appears to still be growing in the low-single digits. This is totally unacceptable and honestly shows that LB management is either delusional or incompetent: if your revenues are declining 8% a year and you somehow find a way to grow SG&A, you are either flailing, an imbecile, or a flailing imbecile. My guess, after having worked at many companies, is that Limited Brands management never set up the kind of performance-attribution tracking necessary to intelligently allocate capital. Their internal planning is likely just budget-based departmental fights. What's worse, new CEO Mehas is likely ride-or-die on Victoria's Secret: so long as he continues to describe his job as "listening to the consumer", rather than "tying a tourniquet", I expect SG&A to be flat at best. There's also the "stubborn founder" angle -- for Les Wexner to order Mehas to cut VS would be a repudiation of his life's work. Old billionaires tend to get very sticky, and given Wexner's affiliations with Epstein, doubly so. + +2). Various gross margins have been adjusted -- many non-cash impairments are negatively impacting earnings in a way that is irrelevant to the business. + +3). Store leases are typically around 10 years long and non-cancellable, but management is only cutting total VS store square footage by around 3% a year, which means it's only closing around 30% of available "closeable" stores. This is not remotely aggressive enough. Management should be aggressively negotiating subleases and taking lease break restructuring impairments on their worst-performing stores. They should also avoid opening new stores, especially not ones in [nearly-Brexit](https://tietheknot.scot/the-first-victorias-secret-store-in-scotland-opens-today/) Scotland. I mean really, what is Les Wexner thinking? + +4). While I continue to model growth in Bath & Body Works, I think we are close to hitting a wall on growth: most women I know consider the brand to be for tweens and low-income young mothers. There's also minimal international appeal -- this is a niche brand for middle American women that is nearing saturation. Even if we assume 50m American women buy $100 a year of the stuff, that still only gets us $5bn of annual revenues. I think we are very close to hitting a wall in overall appetite unless Bath and Body Works can find some new realization gradient with very different demographics. + +5). VS sales and gross margin decline comes almost completely from promotions, aka price cuts. VS will likely struggle to keep gross margins above 30% in the future. + +6). I really want to emphasize how much the core of this conflict is fundamentally about capital structure ownership: equity performance via leveraged SG&A, versus debt de-leveraging via decreased SG&A. Non-rent SG&A is the single largest controllable driver of VS operating profits. Yes, the [fashion show was cancelled](https://variety.com/2019/tv/news/victorias-secret-fashion-show-canceled-why-1203413186/), but it's not enough: literally the entire company hinges on whether it can cut SG&A or not -- by 2025 VS will be 0% operating margins from VS declines, even if they manage to reverse SG&A growth and cut it by 3%. Dramatic restructuring will be necessary to save Limited Brands. + +Personally, I am going to own a small holding of LBrands bonds: it doesn't look like the company as a whole will become insolvent by 2027, whereas the stock will almost certainly be unable to avoid a complete implosion in a few years, so I am planning on shorting 1/3 of the amount of my bond holdings amount in equity. The goal here is to target a very narrow, carefully modeled valuation range of stub equity value mismanaged by thumb-sucking leadership that will pull themselves out of a crisis only when things get dire. +**INTRO** + +I have been researching a lot of factor investing techniques, and have come to the conclusion that most of the factors investors use are wastes of time. Most signals lose merit when empirically scrutinized, and those that remain do not seem trustworthy over decade-long investment windows. + +Except for momentum. For some reason simple momentum investing seems to be the one factor that remains consistent YoY, all for the simple reason that companies and economies that have done well in the past will typically continue to perform well in the future, and vice versa. + +X-day moving average (definition): the average closing price of the stock for the past X days. So a 200-day moving average is the average closing price of the fund for the past 200 trading days. + +**TECHNIQUE** + +Here's a simple method for momentum investing I've devised (IE: shamelessly copied from people smarter than myself): + +1. Once per month look at the moving average of your favorite major stock market index fund (I use [Vanguard's $VT](https://investor.vanguard.com/etf/profile/VT)) using one of the many free stock statistics sites on the web (like [BarChart.com](https://www.barchart.com/etfs-funds/quotes/VT/technical-analysis)). +2. If the price of the index fund is above its moving average then invest in it. If the price of index fund is below its moving average then move these funds into safe government bonds. + +That's it! + +**DATA** + +Momentum trades since 2008 using differing moving averages (MAs) in $VT (Vanguard Total World Stock ETF): + +|**100-day MA**|**150-day MA**|**200-day MA**|**300-day MA**|**350-day MA**| +|:-|:-|:-|:-|:-| +|BOUGHT May 09|BOUGHT May 09|BOUGHT June 09|BOUGHT Aug 09|BOUGHT Aug 09| +|SOLD Feb 10|SOLD June 10|SOLD June 10|SOLD June 10|SOLD June 10| +|BOUGHT April 10|BOUGHT Aug 10|BOUGHT Aug 10|BOUGHT Aug 10|BOUGHT Aug 10| +|SOLD June 10|SOLD Sept 10|SOLD Sept 10|SOLD Sept 11|SOLD Sept 11| +|BOUGHT Aug 10|BOUGHT Oct 10|BOUGHT Oct 10|BOUGHT March 12|BOUGHT March 12| +|SOLD Aug 11|SOLD Aug 11|SOLD Aug 11|SOLD June 12|SOLD June 12| +|BOUGHT Jan 12|BOUGHT Feb 12|BOUGHT Feb 12|BOUGHT Aug 12|BOUGHT Sep 12| +|SOLD June 12|SOLD June 12|SOLD June 12|SOLD Jan 15|SOLD Sept 15| +|BOUGHT Sept 12|BOUGHT July 12|BOUGHT July 12|BOUGHT March 15|BOUGHT August 16| +|SOLD July 13|SOLD Feb 14|SOLD Oct 14|SOLD August 15|| +|BOUGHT Aug 13|BOUGHT March 14|BOUGHT Nov 14|BOUGHT August 16|| +|SOLD Feb 14|SOLD Oct 14|SOLD Jan 15||| +|BOUGHT March 14|BOUGHT Dec 14|BOUGHT March 15||| +|SOLD Oct 14|SOLD Jan 15|SOLD Aug 15||| +|BOUGHT Dec 14|BOUGHT March 15|BOUGHT May 16||| +|SOLD Jan 15|SOLD July 15|SOLD April 18||| +|BOUGHT March 15|BOUGHT April 16|BOUGHT May 18||| +|SOLD July 15|SOLD Nov 16|SOLD July 18||| +|BOUGHT Nov 15|BOUGHT Dec 16|||| +|SOLD Jan 16|SOLD April 18|||| +|BOUGHT April 16|BOUGHT June 18|||| +|SOLD Nov 16|SOLD JULY 18|||| +|BOUGHT Jan 17||||| +|SOLD March 18||||| +|**Total trades:** 24|22|18|11|9| +|**Trades** **per** **year:** 2.7|2.4|2|1.2|1| + +**BACKTEST** + +Here's how the 300-day MA would have performed against buy and hold for $SPY: [https://dailyreckoning.com/wp-content/blogs.dir/5/files/2012/11/DRUS11-13-12-1.png](https://dailyreckoning.com/wp-content/blogs.dir/5/files/2012/11/DRUS11-13-12-1.png) ([**source**](https://dailyreckoning.com/a-better-way-than-buy-and-hold/)). That's a 15-year return of 74.3&#37;, almost double the return of simply buying and holding the S&P 500. BUT this return &#37; does *not* consider taxes (see observation #6 below). + +**OBSERVATIONS** + +1. This technique is wonderful for avoiding massive drops to the stock market while still being invested in the majority of its gains. Imagine being completely in stocks in 2017, but completely out of stocks during the entirety of 2008! +2. It's pretty low maintenance. On average, the 200-day MA of $VT trades just 2 times/year! +3. **The longer used MA, the less risk/reward/work.** The slower the MA is to respond to trend changes. So you're talking about less return and lower volatility. Example: when the global stock market tanked in late 2015, the 300-day moving average would have safely moved to bonds in August. In contrast, the 350-day moving average would have waited to sell until September, a month later, meaning an entire extra month of losses vs the 300-day. +4. **The shorter used MA, the more risk/reward/work.** For the 100-day moving average of $VT, the number of trades since the 2008 crash balloons to 24, an average of 2.7 per year, with many years having 4 trades per year. And a lot of those trades are whipsawed trades when the market is really moving sideways, making you do a bunch of work that really isn't necessary, and some of those trades mean moving out of the market when it's going up, missing out on a bunch of gains. +5. The data above seems to show **the sweet spot is 200 trading days** (200-day MA). This seems to be a somewhat decent spot to grab the trend when it changes, but to not get too chopped up when the market spends a season moving sideways. +6. Taxes are the one factor here which makes this approach earn less money than buy and hold. You're trading at least once almost every year here, so you're almost always going to be paying short-term capital gains tax, which is a pretty big hit to your overall return. That said, a few years (2013, 2017) are trade-free, so you have the occasional long term cap gains trade. +7. Because of tax inefficiency, buy and hold does seem the ideal approach for maximum profit. However, buy and hold does this by leaning on your emotions. In the 2008 stock market crash you would have experienced single digit losses with a 200-day MA approach. Compare this to buy and hold with its 50&#37; drawdown (intra year). Imagine the wonderful feeling of being 100&#37; in government bonds while everybody else is covering themselves in sackcloth and ashes and going through marital stress. +8. The bond allocation is probably going to be [$VGIT](https://investor.vanguard.com/etf/profile/VGIT), Vanguard's intermediate term government bond ETF. + +**CONCLUSION** + +I don't think I'll use this approach as my main investment, since it doesn't take advantage of long-term capital gains tax rates, and thus has a lower overall return compared to simply buying and holding. However, I am strongly considering this as a major part of my overall portfolio. Perhaps 40&#37; of my entire stock allocation. So that would be 40&#37; momentum investing via the 200-day MA of $VT, and 60&#37; in my regular buy and hold in index funds. \[Note: I'm young and still have many decades of earning potential.\] + +**TL;DR:** Momentum investing with major index funds is simple, requiring about 2 trades per year. Once per month (no more! no less!) look at your favorite major index fund. If the 200-day moving average is below the fund's price, be 100&#37; invested in it. If the 200-day moving average is above the current price, safely move this allocation into 100&#37; bonds. Stick to your rule! In doing so, you will enjoy healthy stock returns while avoiding the majority of market crashes, sleeping better at night during major market turmoil. +[2017 Health Insurance premium increases from $679/month to $1,355/month!!](http://i.imgur.com/aDXB4qT.jpg) + +I just received this letter from BCBSOK notifying our family (2 adults, 2 children) that our 2017 health insurance premiums will be increasing from $679/month to $1,354/month for the exact same plan (PPO 006)!! That is a 100% increase in one year!! Also, our individual deductibles are increasing from $6,000 to $6,500 each. For reference, the plan is BCBS Oklahoma Bronze Plan PPO 006 (HSA): http://www.bcbsok.com/pdf/sbc/2016-compare-bronze-plans-ok.pdf. This is a Health Insurance Marketplace plan and is one of the cheapest plans offered by BCBS (who is now the only remaining health insurance company in Oklahoma). + +So, for 2017, our family will be paying out $16,256 in premiums PLUS a $6,500 deductible per person (i.e,. total of $22,256) BEFORE our insurance will pay a penny for any medical care, prescriptions, etc.!!! + +This is outrageous!!! I am self-employed and adding another $680 monthly expense is devastating. We are in Week 7 of Dave Ramsey's Financial Peace University and were excited to have a plan to better manage our money. And then our health insurance premiums double!?! $1,354 per month is a freaking house payment (except it will never be paid off and there is no equity)! + +So much for saving for our kids college or for our retirement or other future plans. I wonder how other people are handling these skyrocketing health insurance premiums? Are there any good suggestions for self-employed individuals to join some types of groups or organizations that may have lower group-based premiums? + +I did something stupid. + +I bought FLOKI on mexc.com with USDT (I won't say how much) and accidentally transferred the BEP20 version of Floki to my Metamask address instead of ERC20. + +On the withdrawal screen it gives you both options, and BEP20 was the one selected so I just went with it. + +Anyway, to make a long story short, my flokis are lost in god knows where and I don't think I can get them back. Nothing shows up on Etherscan for this transaction either. I've contacted mexc with my problem, but I doubt there's anything that can be done. + +How not to be a dumbass: always check if you're sending on the right network, always send a small amount first as a test. + +Thank you + +Edit - I was saved by u/dzhebarov who recommended I try this https://community.metamask.io/t/sent-form-bep20-to-metamask-and-no-funds-showing-how-to-recover-the-tokens/9409 and it worked! Enjoy 6 moons on me. +This podcast deals with the insider trading case involving the ABS employee and NAB forex trader. + +I highly recommend it. It’s a really interesting insight into financial markets, how the crime was detected and into the relationship between two young friends. + +Is anyone else tuning in? +It is $298 as of this post at least. Anybody know why its been dipping under $300 today? Is it still because of the recent flash crash and the whole ICO craze thats been causing people to panic sell? or is it something else? + + +Update: $288 as of 11:50 am pdt. +There's a lot of snake oil men out there right now hammering out YouTube adverts on how you can make millions from their one training course. + +I'm guessing they're doing this now because ads are cheap right now. + +Remember that there's no quick rich schemes and you definitely don't need to pay £1000 an hour to line their pockets from a webinar. + +I prefer to not name any names because it will just give them free advertising. +Most of you have hard of the OW which is owned by the DTCC. The OW is where FTDs go to die. They are supposed to be paired with other participants through the OW but it seems they are just…. Disappearing. Cause you know, another dark entity capable of impacting the stock market that is self regulating screams free market. Especially when they created a warehouse for failed obligations. Billions and trillions and quadrillions of money stolen from market participants. + + +What can we find on the OW? I get a 404 link when digging into their learning center that discusses the OW. It also seems the OW has all pieces in place to identify the entities that are FTD. The data they state they use and have “promotes transparency” meaning they know who is doing what. To make it simple. They know who continually ftds. How much. Etc. + +Quote: Obligation Warehouse (OW) is a non-guaranteed, automated service of NSCC that facilitates the matching of broker-to-broker ex-clearing trades and provides Members with the ability to track, manage and resolve their failed obligations in real-time. + + +Quote from 2019 Article: "Instead of complying with the rule, however, DiIorio alleges that Knight circumvented it by manipulating an obscure process within the machinery of the nation’s clearing system known as the “Obligation Warehouse.” + +Last one promise: "The Obligation Warehouse instead simply asks the buyer and seller of these ex-cleared trades if they “know” the transaction. If they both agree, the trade gets confirmed with a journal entry — and the buyer receives their stock purchase. It actually shows up in the buyer’s brokerage account." + +I lied last one: "Those trades can sit in the Obligation Warehouse forever, in theory. But the “aged fails” — essentially orphaned naked short transactions — remain on the naked shorter’s balance sheet as a liability to be paid later." + +Who can use the OW? All NSCC Members can use the OW service. Full service broker dealer Members are required by FINRA Rules to use RECAPS. + +Links: +https://www.dtcc.com/clearing-services/equities-clearing-services/ow + +Blog discussing the OW and how its interesting to say the least + +https://tremendous.blog/2022/02/23/how-dtcc-makes-fails-to-deliver-disappear/ + +2019 Naked SHortselling by KNight: https://theintercept.com/2016/09/24/naked-shorts-cant-stay-naked-forever/ + +Key: OW - Obligation Warehouse / RECAPS* (updated per comment posted), FTD - Failure to deliver + +Whats an FTD? + +Failure to deliver (FTD) refers to a situation where one party in a trading contract (whether it's shares, futures, options, or forward contracts) doesn't deliver on their obligation + + + +TL;DR: obligation warehouse is where FTDs go to DISAPPEAR. It is owned by the Dtcc and they make income from settling client and customer trades. Their clients and customers are market participants so there is a massive conflict of interest when they can cover for clients who are bad actors as they control the data as well. + + + +Sorry for formatting. Writtin on mobile + +Edit: added key + +Edit 2: ty to the ape who reported me as suicidal. I didnt realize i needed help or is that you Kenneth? Are you projecting. + +EDIT 3: Adding Article from 2019 discussing Knight Capital MM naked shorting penny stocks. Utilizing OW as well and 2 new quotes +Hey guys, Just wanted to ask, what you guys do with the money you make from forex? + +any hobbies that you pay for ? or just compound it? anything?? + +is anyone making good amount?? +So I have $1,000 that I'm willing to put towards a trading account. + +I know I should probably start with a demo account. What are the best places for demo accounts? I would preferably like a site that will allow me to use $1000 in my demo account. + +Where can I learn strategy? I actually studied economics in school and even took 2 courses on international trade that included lessons in the FX Market and currency trading. + +Honestly, how quickly could I possibly lose the $1,000? How much could I realistically make if I follow an ok strategy? + +What is scalping? + +Any info would be awesome +I went to a car dealer today to look for a new Honda Civic. I chose Honda Civic because they come to mind as economical/ reliable vehicles. I was hoping to put $5k down and have a $450/mo payment worst case scenario . + +The dealer had 1 in the body style I was looking for (hatchback) but with the highest level trim. I’ve seen them online and the MSRP is about $31k. + +I was absolutely dumbfounded when they came to me with a $46k offer at over $700 a month. Is this normal? I get that new cars have a markup but this seems absolutely insane. Its a god-dang Honda Civic!!! + +I didn’t buy the car and feel extremely discouraged about car buying now in general. Even used cars are the same price as I look online. Looks like I’ll be holding on to my 20 year old Subaru for the foreseeable future… + +Anyone have advice on car buying in this economy? +**TL;DR:** I believe there is a possibility of tech stocks being battered by the crisis that is not being taken into account by the markets. + +I've been following the market more closely since the coronavirus crisis began. Like some people here, the current bull market / bear market rally has been puzzling me because of the state of the economy and of how long this is going to last. It has been said time and again that the market is not the economy, and that is true, as the market is, among other things, a gauge of investor sentiment. And the sentiment for tech stocks it's as high as it's been. + +At the time of writing, NASDAQ is up 4% for the year. From my understanding, this is due to the confidence in the biotech sector and, of course, tech stocks. Focusing on tech stocks in general, it looks like people are betting on huge gains on those. And I think there's a point in that tech will benefit from this in a way. But I'm bearish about it, and here's why: + +* **Ad revenue:** some of the biggest players heavily rely on ad revenue for profiting. It's understood that many businesses will cut on advertising. Google has said that it will affect their bottom line, expect Facebook to follow suit +* **Consumer spending:** because of the current situation, I expect smartphone sales to take a hit. For many companies (e.g. Apple) this is a main stream of revenue and, although I expect to see a consumption increase in laptop, tablet, and other accessories (e.g. webcams, headsets) I don't see the latter offsetting losses in the former +* **Mobility:** decreased usage of mobility services (e.g. Uber, Lyft, car-sharing apps), if even because of less tourists and air traffic +* **Travel:** even if travel goes back up a bit, it won't go back to 2019 levels (e.g. Airbnb, Booking) +* **Work-From-Home:** here I do believe that tech companies will come out on top, but I'm cautious about it because many companies had already purchased the tools for this (therefore not resulting in a significantly larger pool of customers) +* **Earnings:** a lot of companies removed guidance for the current quarter, which makes it a lot harder to know what to expect (not really bearish, but a factor to keep in mind) +* **Retail investors:** there has been a surge of retail investors entering the market after the crash. These people are likely to bet in “hot” stocks, not the least tech stocks (and biotech and pharmaceuticals). This has undoubtedly been one of the major factors driving the market upwards in my opinion, and might be a red flag if or when the market gets dire +* **Stimulus:** this is what I'm most unsure about. From what I read, the FED has a huge bond-purchasing programme. With this, the FED wants to keep confidence in the markets. My question is, because of the huge debt that the FED already has, and to how large the bond market is ($80 trillion) in comparison with the FED programmes, how much difference will it make? + +I'd like to hear your thoughts about this. +I'm your basic 25 years old 9-5 employee making an average salary in Ireland. Few months ago I was browsing the net and came across a website (bittrex) that offers cryptocurrency trading, so I did my research and few days later, exactly on 25. June 2017 I bought my first 0.25btc (around 500e back then) and started trading. Ethereum, antshares, litecoin, stratis, waves and so on and so on, I lost few $ on shilled coins but I gained much more on ICOs and altcoin trading. + +After few months I was looking at a portfolio of over 5000e without any further investment mostly achieved by the rocket moon of bitcoin and just by doing some turnarounds and daily trades. That was in September 30th and on that day my grandfather has been diagnosed with a non-small cell lung cancer (NSCLC), in an early stage where his right side of lungs is affected by a tumour. We're originally from Slovakia so the only option to get this treated was to undergo a surgery to remove the tumour, but considering how bad is the Slovakian healthcare we weren't willing to go forward with this procedure(only procedure covered by his healthcare). The only option was to privately pay for a treatment abroad. After a very long search we found a private clinic that could help us, Oncology clinic in Prague, which was costly but they had the best surgeons to help us. + +Few days passed and we received a quote for the treatment. Where the fuck are we going to get 7900e was the next question that went through my mind, my grandparents are on absolutely hilarious Slovakian pension of 420e/month and there was no way they could afford this. My mother couldn't help because her financial situation wasn't any better and then it struck me...Let's take the profits from crypto and use it to pay for the surgery and that's exactly what I did. I cashed out all my crypto and ended up with 6300e on my bank account. Flew to Prague to undergo the initial examination and few weeks later, on 17th of November my granddad had a surgery where the whole right side of his lungs had to be removed due to the spread of the tumour. His weight dropped to 62kg(-18kg in less than two months) and he was having horrendous pains because of the ribs that had to be snapped to access the lungs during the surgery. Everything went good and there were no complications during or after the surgery. + +As of today, 18th of December, less than 4 months after he has been diagnosed we received the final results of his progress and cancer stage. No cancerous cells were find anywhere in his body, his lungs are working great, no liver damage and he's now at hom, regaining weight and strenght, all well and healthy, looking forward to spend another few healthy years with his family and loved ones. I know that this fight is probably not over yet as cancer will most likely return at one point, but for now we won and all of this thanks to cryptomarket, without crypto we wouldn't be able to afford this surgery and give him another few years of life to enjoy. +I'm your basic 25 years old 9-5 employee making an average salary in Ireland. Few months ago I was browsing the net and came across a website (bittrex) that offers cryptocurrency trading, so I did my research and few days later, exactly on 25. June 2017 I bought my first 0.25btc (around 500e back then) and started trading. Ethereum, antshares, litecoin, stratis, waves and so on and so on, I lost few $ on shilled coins but I gained much more on ICOs and altcoin trading. + +After few months I was looking at a portfolio of over 5000e without any further investment mostly achieved by the rocket moon of bitcoin and just by doing some turnarounds and daily trades. That was in September 30th and on that day my grandfather has been diagnosed with a non-small cell lung cancer (NSCLC), in an early stage where his right side of lungs is affected by a tumour. We're originally from Slovakia so the only option to get this treated was to undergo a surgery to remove the tumour, but considering how bad is the Slovakian healthcare we weren't willing to go forward with this procedure(only procedure covered by his healthcare). The only option was to privately pay for a treatment abroad. After a very long search we found a private clinic that could help us, Oncology clinic in Prague, which was costly but they had the best surgeons to help us. + +Few days passed and we received a quote for the treatment. Where the fuck are we going to get 7900e was the next question that went through my mind, my grandparents are on absolutely hilarious Slovakian pension of 420e/month and there was no way they could afford this. My mother couldn't help because her financial situation wasn't any better and then it struck me...Let's take the profits from crypto and use it to pay for the surgery and that's exactly what I did. I cashed out all my crypto and ended up with 6300e on my bank account. Flew to Prague to undergo the initial examination and few weeks later, on 17th of November my granddad had a surgery where the whole right side of his lungs had to be removed due to the spread of the tumour. His weight dropped to 62kg(-18kg in less than two months) and he was having horrendous pains because of the ribs that had to be snapped to access the lungs during the surgery. Everything went good and there were no complications during or after the surgery. + +As of today, 18th of December, less than 4 months after he has been diagnosed we received the final results of his progress and cancer stage. No cancerous cells were find anywhere in his body, his lungs are working great, no liver damage and he's now at hom, regaining weight and strenght, all well and healthy, looking forward to spend another few healthy years with his family and loved ones. I know that this fight is probably not over yet as cancer will most likely return at one point, but for now we won and all of this thanks to cryptomarket, without crypto we wouldn't be able to afford this surgery and give him another few years of life to enjoy. +Edit 2- not feeling well, so turning in for an early night (it's 8pm here) + +**TL;DR?** + +EDIT 1- there is a lot and it's worth reading all. + +But in essence, Citadel can use and abuse the way they class orders to fuck both Broker Dealers, and in turn broker dealers and Citadel (and other MMs presumably) fuck us retail even harder. + +This should be, imo, getting more attention than it already is. And more apes, especially the other "wrinkle" brains amongst us should be getting eyes on this and seeing if my conclusions are correct or further information can be drawn from it. + +**Links** + +[This is the exact same DD on Ken Griffin Lies website should it be removed from Reddit and/or YouTube.](https://www.kengriffinlies.com/the-orangutan-papers-citadels-equity-handling-protocols-dd/) + +[YouTube form of this DD, should it be removed from reddit and/or the KGL website](https://www.youtube.com/watch?v=Imsygsz6sCE) + +[Link to video with just the Document in question, you may need to pause/screenshot if you want to read the document along with the DD.](https://www.youtube.com/watch?v=9ybToFl1dIw) + +**Intro** + +Hey Everyone, + +Firstly, sorry for how long I sat on this. Given what it is I just wanted to post straight away, but I also fully appreciate that is an emotional response. I, where possible, try and be pragmatic. + +So without further ado I present to you "The Orangutan Papers". A 22 page document, from Citadel to a broker dealer (the fidelities of the world who buy and sell shares for themselves, as well as clients) on it's "equity handling protocols". + +**Things to be wary of while reading.** + +1. This is dated Feb 2019. A full 34 months ago. That is a long time for some policy documents, at the same time my work has some policy documents from the 70s. It should be taken with a grain of salt. +2. This could be a very carefully crafted document (22 pages long) to fuck with apes, and is a total fake. +3. My interpretation of this document may be wrong, this is also why I provided the link to the document so other apes can pour over it and find stuff I missed, or correct things I got wrong. + +That being said, I've done what due diligence I can on this. + +And on the balance of probability this look like the genuine article. + +**Stand out sections.** + +*There is a lot, so I've put the ones I think to be worth extra attention in italics, like I've done here.* + +**By page breakdown.** + +Let's go over every page in detail. + +**Pg1.** + +Citadel states here what they are, and the two sides two their business. That they place orders as a market maker for their clients as well as the fact that they also trade for their own profits. Most importantly they CLEARLY state they may trade in tickers that they both trade as a market maker and as a non-market maker (aka hedgefund). + +They also begin to explain their duty of best execution, which continues onto pg2. + +**Pg2.** + +They speak about how best execution is a multi-faceted consideration. + +>i.e a market may show a better price, but have a lot less shares available. + +But the take away I have is they go onto say, the people that review whether they have met the requirement of providing "best execution" meet on a quarterly basis, and comprise entirely of people employed by Citadel, including Senior management. There isn't a mention of a single person from the SEC, FINRA, FINTEL, DTCC or NSCC (even though these org are blended as it is). + +Meaning Citadel decides if Citadel is giving best execution or not... nice that. + +We then briefly mention that Citadel's duty to give best price execution is to the clients (The broker dealers) and not to the client's customers (us, retail, apes). Totally flying in all the shitty PR statements Citadel has tried to spin. + +>I can see the spin already tho, they provide best execution to clients, who provide it to us. If that happens don't let the fact they clearly state here who they consider their obligations to be to. + +We then go onto discuss Automated & Manual order receipts (This continues onto Pg3). + +**Pg3.** + +Citadel talk about how it's SOLEY up to them if an order is automated or manually processed. They also talk about the fact they can trade during extended hours (Pre-market/After hours). + +They then go on to talk about how Citadel reverses Sole discretion to cancel or reject any client order and that they have no further obligations to an order once cancelled/rejected. + +They also mention that they can choose to ignore a cancellation order if they have already gathered part or all of the equities to fill the order. Again at their sole discretion. + +We then go onto Order Handling, this section lasts until PG 14. As such I'll be breaking it down by subsection. + +Within order handling they first discuss order routing. Citadel states for non-directed orders that they can basically filtered it partially or wholly where they like, including to Citadel Connect. + +>So where possible, direct your order to a lit-exchange such as IEX. + +Citadel picks how it does this via it's "heat map" technology (NFD), which uses order flow (Another reason to dislike PFOF) they finish off by stating it's up to Citadel how much information on the client order goes to the market centers. + +**Pg4.** + +Order Types- Citadel defines held and not held orders.(Held orders need to be filled immediately, not-held can be delayed as to try and get a better price.) + +*The requirements to be classed as not-held appear to be so vague to Citadel that near enough every order could be classed as not held. This isn't a good thing, as we discuss in detail through the entire DD.* + +**Pg5.** + +We continue with more about order type. Something (which might burst people's bubble) that stands out is that not-held orders include certain categories. One of these is Algorithmic trading. And the thing about not-held orders is there is no requirement, and therefore Citadel doesn't, display them. Which further means trying to divine information from the order book (at least as citadel is concerned) is largely pointless. + +>Doubly so as Citadel could easily choose what to display and what not to display in an order book to further mess with us. + +*But the next part really irks me, as it seems to fly totally in the face of the best execution statement.* + +*Citadel may trade ahead of not held orders, and buy/sell at the same, or indeed better price for it's own accounts and in doing so doesn't even have to fill the not-held order.* + +We then go onto additional conditions in not-held orders in OTC equities (Stocks that don't meet the requirements to be listed on a main exchange, or derivates such as options). This continues onto pg6. + +**Pg6.** + +The OTC orders that have specific instructions (such as trading via VWAP) will be traded manually by a trader where the instruction is actionable, if not Citadel will go seek clarity on the order or reject the order. + +If there are no instructions on the OTC order than it will be determined as manual or automated depending on how big the order is, and how many shares are within that order (and the price of those shares). + +The final note on it, is that most OTC orders will be meet by "netting", more on this later. + +We then go onto algorithmic trading, which continues onto pg7. + +**Pg7.** + +A broker dealer may choose to place an order with Citadel using one of it's algorithmic strategies, in doing so Citadel treats it as a not-held order and has sole discretion on how to execute the order (but caveat they need to keep it in line with the chosen strategy). + +Citadel can also break the order up, into smaller child orders each with it's own strategy. + +This can include lit, dark or internalised venues. + +Then we cover pre-order handling. There is nothing overtly new here, Citadel reserves the right to not execute the order, pretty much same as the rest of their orders. + +**Pg8.** + +On close orders- It splits it into Market on Close (MoC) and Limit on Close (LoC), they are exactly what you'd expect but happen at close. + +*A big stand out is that Citadel may guarantee part or all of a MoC, if they do Citadel can hedge against that order (which in turn may effect the price) this is massive and may account for all those ridiculous 1 min to close/post close candles.* + +The language in the next paragraph seems to indicate that this is not limited to MoC and that LoC orders can also be hedged against. Though this isn't spelt out anywhere. + +**Pg9.** + +OTC stocks have the same requirements for MoC/LoC as listed. + +We then go onto IoC (immediate or Cancel) & FoK (Fill or Kill) orders. + +Both are at Citadel's discretisation to fill or cancel or reject. + +*And likewise, they are considered not-held, so everything that applies to not-held orders applies to these guys.* + +*AoN (All or None) orders are next. They make mention that these orders are not allowed on exchanges (which implies they must be dealt with by way of OTC), and as such present unique risk to them. As such they aren't considered not-held or held, but that Citadel's handling of these may effect their price execution.* + +**Pg10.** + +Day orders- Nothing contentious here, they state they may execute a few mins after close. + +>Again adding to the ridiculous minute before/after close candles. + +Good till Cancelled/Good till Date Orders- Again nothing overly contentious here, they don't display them overnight. Which seems to fly in the face of the earlier statement about not displaying Not-held orders at all (again showing us that trying to divine info from the order book may be largely pointless). + +Stop orders continues on to page 11. + +**Pg11.** + +Stop orders, nothing overly contentious other than the fact Citadel looks to bunch triggers into a bulk order, and prioritises speed over price improvement in a bid to compete with fast moving markets. + +They do state that Citadel may engage in trading that may trigger these orders. + +*My big take away from this, if citadel has enough knowledge of stop orders (or trailing stop orders) they can force a crash to take advantage of that. AKA CITADEL CAN SEE YOU STOP ORDERS SO DON'T PLACE STOP ORDERS. March 10th anyone?* + +Short sale marking and locate requirements, not the same as Citadel Short selling (and this document doesn't cover that) it states the onus is on clients to mark shares sell long, sell short, sell short exempt. This is a hand washing statement nothing more. + +**Pg12.** + +Risk management and market access control- This is the bit I've had to stop my self skipping ahead to read. + +Citadel reserves the right to delay any order it wishes to make sure it's correct, accurate and despite all this Citadel accepts no responsibility for client errors. This is so vague a statement that in theory Citadel could delay any order in the name of ensuring it's correct, even if that order was to be a massive benefit to retail and to the detriment of Citadel. + +Order protection, Finra rule 5320 and 5270. + +*5230, Citadel aren't allowed to trade a share for it's own account while they have a held order that would benefit more from that trade... shame for retail most orders can be classed as non-held.* + +5270, citadel aren't allowed trade in their own accounts on a security that they have non-public information about a block on... like say a block on the buy button. THIS LITERALLY SPELLS OUT A RULE THEY BROKE IN JAN 28TH. + +>This doesn't seem to be broken down by not-held and held orders. So it literally spells out a rule that was broken. + +We then move onto information barriers, Citadel claims their teams work in silos (that is to say isolated away from each other), so that the team that deals with it's own accounts doesn't have any information that the team dealing with client accounts has... shame we've all seen the videos and the relative open planning of the Citadel offices and know that they aren't even siloing on a physical level, never mind an informational one. It's not like WhatsApp, telegram, discord, <<Enter 100 other messaging services>> exists. + +*It goes to further define that "Not-Held" & "Institutional Orders" don't get the (limited) protection of 5230 (meaning citadel can trade ahead, if they trade the client order at all, for their own profit).* + +**Pg13.** + +*We then cover facilitation, hedging & pre-hedging, In short it states Citadel can trade ahead of knowledge of a block in a security if it is for one of these three purposes.* + +*The thing is hedging is such a broad term, as previously defined in this document and defined elsewhere, that it allows Citadel to unilaterally make trades to protect itself against black swan events in a way that pretty much no one else (other than other market makers presumably, such as Virtu) can.* + +>I am not advocating buying puts but if you had prior knowledge of the Jan 28th buy block, you could have bought a ton of puts (dirt cheap may I add), made a killing and have done so in the name of "hedging". It's actually sickening to me. + +We then cover something which may warrant further digging elsewhere, Retail Order Liquidity Programs, all Citadel state here is that Citadel won't treat an order as a retail order unless explicitly told to do so by a client (this also may be a way to provide themselves some cover if the program provides any additional protections or benefits to retail orders). + +>As I said, further digging into what this program is may be warranted but it's not covered in this DD, and after this DD I'm tapped out of anything other than my normal weekly/daily posts for a while unless I come across something like this again. + +Corporate actions, citadel will adjust open orders based upon those asked corporate actions. It's a small vague, but seems relatively harmless. + +*Order routing & conflict of interest. Citadel states that it gets kickbacks and fees to route order to certain markets and if the kickbacks are larger than fees they will receive payments from these markets. As such Citadel reserves the right to route to certain markets provided it keeps in line with the "best execution principles" (That one that is judged solely by people of Citadel... again nice that).* + +**Pg14.** + +*System failure and abnormal market conditions (Jan 28th and maybe this now), this is the last subsection of order handling section. And would you believe it, Citadel reserves the right to apply, cancel, partially apply or EVEN CHANGE client orders without prior notice during periods of system failure and abnormal market conditions.* + +>Meaning Citadel can, and will, pull out every dirty trick **WHEN (not if)** MOASS happens. + +We then go onto the Order execution section, again this lasts until page 18 and as such I'll be breaking it down by subsection also. + +Price improvement, this subsection states that Citadel can determine whether or not to improve a clients order for a better price at their sole discretion, even if price improvement is within the NBBO (National best bid offer) and one of the factors in making this decision is Citadel's own positions. + +**Pg15.** + +Customised execution strategies, Citadel allows clients to choose a metric if they so desire to prioritise in execution if they wish, this may result in worse results in other metrics. Standard handwashing statement. + +NBBO calculation (which is further broken down into even smaller subsections), as a whole Citadel relies on direct market feeds, then SIP feeds (Security information feeds). + +*For OTC trades it refers to the OTC NBBO bulletin board, and chooses the right to exclude any information from this bulletin board it deems unactionable. Which is important as remember non-held orders (which is most orders) can be put through as OTC trades, and the statement of what it deems to be unactionable is not further clarified and therefore suitably vague and full of leeway.* + +**Pg16.** + +*We then go onto Net trading, Citadel re-states that most not-held orders (which is most of them) is dealt with by netting, if at all. This is the MOST IMPORTANT PART OF THE WHOLE GOD DAMN DOCUMENT. as it spells out how Citadel gets paid as a market maker, they net by taking the opposite side of the trade elsewhere in the market at a better price, and then fill the trade at the other end. The difference/net is what Citadel takes as payment.* + +>*For example you ask to buy stock ABC at $10, your broker gives that order to citadel who sees someone is selling it for $9.95, as such they buy it, give it to your broker, who gives to you and Citadel NETS the $0.05 difference.* + +*They can only do this for not-held orders, which is most orders. (I know this is repeating my first sentence in this section, but it's important).* + +We then move onto trading halts, nothing contentious here. Citadel has to abide by them (nice to a see one of the rules apply universally for once). + +We then go onto erroneous trades, Citadel has certain conditions it has to adhere to due to the SEC, FINRA etc but citadel also reverse the right to cancel or alter order/trades that don't fall within SEC/Finra/SRO rules if citadel deems it erroneous (much like when your older sibling babysat you and decided to add extra rules that mum and dad didn't have). *Again nothing further is expanded on what Citadel would deem erroneous that SEC/FINRA/SRO don't.* + +**Pg17.** + +Deals with extended trading hours (pre-market/After Hours) Citadel states they will accept and trade client orders during these times but makes a warning on all the risks of trading during these times. + +What is implied though, reading between the lines, is that Citadel will also trade for it's own accounts during these times as well. + +**Pg18.** + +With Order execution done, we go onto another handwashing statement/section, regarding rules around OTC re-sale. Some OTC securities may not be re-sold, it is the client, not citadel's, responsibility to ensure that non-resalable OTC securities aren't traded. + +We then go onto another section with multiple subsections, Orders from Canadian internalised securities and foreign markets. + +*First subsection is Canadian internalised securities, when a stock is traded on both U.S and Canadian markets citadel will only accept it is it's an Immediate or Cancel (IoC), or Fill or Kill order (FoK). If you cast your mind back you'll remember these orders are considered not-held, and therefore lose all the protection of held orders.* + +**Pg19.** + +Orders in a foreign market is next, first thing that stands out is that Citadel have a portal where the OTC prices sit, including foreign, Citadel gives access to this portal to clients but clients are forbidden from passing it on (I'd jump at the chance to have a look). + +*Next is currency, all orders should be placed in USD and then Citadel makes extra money by marking up or down the exchange rate (presumably on top of their netting).* + +Citadel then lays out the ways they may fill the order, they give preference to internalising the order (i.e Citadel takes the opposite side and net trades it) but that they may use other methods, or a combination. + +**Pg20.** + +This page explains the previous pages netting/best execution etc. + +*One part they spell out is that an order will still be considered best executed even if there was price improvement available that wasn't taken, provided Citadel make profit.* + +*It then states what rule, FINRA 5320, that it needs to adhere to, so that it can be considered best execution, but remember two things one "the committee" that judges this is made up of citadel staff according to this document and two all foreign orders are dealt with by OTC and are therefore Non-held and therefore FINRA 5320 doesn't apply, makes me wonder why they brought it up at all.* + +**Pg21.** + +Use of client information is our next heading. Citadel states it may use the following information and how it's used, but that they don't need to tell their clients. + +They can also state they can change what information, and how the information is used without informing the client (unless required to by law or ruling). + +*First it breaks it down by client order information, Citadel can use past and present trading information on determining how to handle that order. Also citadel may use the info for their own purposes (both market making and for their own accounts).* + +IOI/RFQ (Indication of interest, Request for quotation) Citadel can use past client, or client customer information to determine whether to supply this info and at what price/ranges. + +Finally, and nice to see it spelled out at the end, citadel may share the information within Citadel or other Market Makers but on a time delayed basis when there should be an information barrier. *They don't state how time delayed though which is nice and vague (not that I believe there is any time delay given the setup of the office and other factors, but that's speculation)but for them a time delay may be 1 second, 1 minute,1 hour... who knows, not us or broker dealers it seems as it's not spelled out.* + +**Pg22.** + +Last two sections deal with who a citadel reports trades to for the purpose of reporting to the consolidated tape. Nothing contentious here. + +**Thoughts** + +>Hope you found that insightful, here's my socials ([Twitter](https://twitter.com/TheKiltedTrader) & [YouTube)](https://www.youtube.com/c/TheKiltedTrader), though I'll be taking a break for a while after this other than my normal daily/weekly posts. + +We always knew we were getting the raw end of the deal, but it seems that raw end of the deal extends to our broker dealers as well (and by laws of gravity, shit travels down so we likely are getting an even worse deal once our brokers add in their conditions as well). + +This document clearly lays out the unilateral, and frankly frightening level of powers and unaccountability Citadel seems to have. I would presume that extends to other market makers as well. + +But here is the thing, forearmed is forewarned. + +None of these conditions seem to apply to though if you make your order both directed to lit exchanges (there is mountain of DD on this) and make sure your order comes under the held category the issue seems to be in getting it to apply to that held category. + +So the next issue on top of that is making sure your shares are, well your shares, and registered in your name. + +As such you need to make sure you are DSRing you shares. + +The most important thing though is this, these are your shares. You sell them, when you decide. All the evidence points to shorts having not covered. + +Given the Earnings call this week, and the battering to the price we now, more than ever need to have diamond hands and show the citadel and market makers of the word one thing. + +WE ARE NOT LEAVING. +So, happy new year to all. I spent the last two years getting off and on sober with a track record of six months off meth. During my meth spree, I ruined my credit all out, made a black mark in cheqsystems or whatever it’s called. I have a 509, no car(transmission just gave out) and I live at an extended stay hotel for the next six months paid due to my disabled wife’s help. I’m ready to take full accountability and full responsibility for my life and get my shit in order but I have no idea where to start. Any advice? +Well this is completely fucked. + +Today is the final Day for T+2 settlement on OPEX the market orders need to be placed either on the lit market or in dark pools as per Rule 204. + +If these obligations are not covered then GME will likely be placed onto the RegSHO threshold list in the coming trading day, forcing settlement and dragging obligations out of the OW. + +This presents a huge amount of risk to the lenders, they likely will not allow it. + +I frankly don't know how this is going to play out for GME. + +I think I've narrowed down our best and worse case scenarios. + +Bull: + +With obligations due today this buying pressure could stabilize GME against the broader market coming down. If these obligations are not covered then GME will likely be placed onto the RegSHO threshold list in the coming trading days. + +While this event is obviously very profitable for net short hedge funds, long funds and prime lenders may seek to recall their assets and close out margin obligations in order to generate liquidity in their position. + +GME's extreme Vega sensitivity plus Variance swap positions could create a Volga/Vanna squeeze like we saw last January. As market wide volatility rises and funds are priced out of hedging their positions. + +TLDR; GameStop has some factors that could cause it to inverse broader market conditions. + +Bear: + +The SHFs are gonna mark an unbelievable amount of money on this correction. Being short everything is paying off and they will use this massively increased leverage to short GameStop harder than ever before or cover their obligations at much lower prices. + +Market halt on a drop of more than 20% could suspend trading for the remainder of the day. These occur at 7-13-20% respectively (15-15-trading day, time limits). + +The could be deferrals in play due to market conditions that offset their obligations. These agencies will protect their risk especially with a possible crash before forcing settlement. + +GameStop seriously outperforming the market here in the options data from Gamma Girl + +[Our Delta neutral is sitting at $104 .98 this has acted as a floor for us a couple times over the last few weeks hopefully it does so again. Gamma Max down to 148.](https://preview.redd.it/y773aq6wdsj81.png?width=909&format=png&auto=webp&s=591ce6263e67a9aa77df8b1a9177c327291e9f6c) + +[The SPY is actually falling off a cliff. With almost no downside support after a dip below $400 this could be serious. More interestingly the slow decline in delta neutral indicates institutions were expecting a bounce and actually play the market long. Losses will be significant.](https://preview.redd.it/3nwhpjb7esj81.png?width=909&format=png&auto=webp&s=c25543514ae2c56cd2e2678a1882d4f6a1169907) + +**DIX pics** + +[Even more DP volume yesterday, increasing asymmetric risk](https://preview.redd.it/35uouteoesj81.png?width=2522&format=png&auto=webp&s=1810166938fe3965ebd1357126f48aaeeef7ef5d) + +[Volatility rising](https://preview.redd.it/b5tr7qmzesj81.png?width=2486&format=png&auto=webp&s=0dcbf5c630e271533ce6aacbf3f8e9f1c658bcf9) + +[PCR is exceptionally low, meaning GME has very few put options in place currently](https://preview.redd.it/y1a52s83fsj81.png?width=2490&format=png&auto=webp&s=fad1295b1a4430a89ea9dac02007cf206a0e1e94) + +[GEX still elevated so hedging should favor a price increase](https://preview.redd.it/pfew1vobfsj81.png?width=2501&format=png&auto=webp&s=e64e08799b4fbce57ca54bd109bf8e07cfa46482) + +Food stamps or Lambos... + +**You are welcome to check** [my profile](https://www.reddit.com/user/gherkinit) **for links to my previous DD, and YouTube Livestream & Clips** + +Historical Resistance/Support: + +46, 92, 98, 100, 104.50, 116.5, 125.5, 132.5, 141, 145, 147.5, 150, 152.5, 157 (ATM offering), 158.5, 162.5, 163, 165.5, 172.5, 174, 176.5, 180, 182.5, 184, 187.5, 190, 192.5, 195, 196.5, 197.5, 200, 209, 211.5, 214.5, 218, 225.20 (ATM offering) 227.5, 232.5, 235, 242.5, 250, 255, 262.5, 275, 280, 285, 300, 302.50, 310, 317.50, 325, 332.5, 340, 350, 400, 483, moon base... + +# After Market + +Right and wrong I think mostly wrong. I can make claims like $20 up since market open and start shit, but I think it's best to address the elephant in the room and discuss why today was in fact not the expected OPEX price action and the severe risk this presents to the SHF going into tomorrow + +So it's difficult to determine if FINRA Margin deferrals for the the holiday on Monday take precedence over OCC members settlement regulations. + +&#x200B; + +>Based on this rule I think they do and we see our missing volume tomorrow. +> +>[https://www.finra.org/rules-guidance/notices/information-notice-101521](https://www.finra.org/rules-guidance/notices/information-notice-101521) +> +>[https://www.finra.org/rules-guidance/notices/13-39](https://www.finra.org/rules-guidance/notices/13-39) + +&#x200B; + +I don't have historical evidence for this because president's day last February was the week of the expiration and not the week of the settlement. + +2021 + +President's Day 15th-------------> OPEX 19th -------------> Settlement 24th (25th also because of halt) + +2022 + +OPEX 18th ------------> President's Day 21---------------> Settlement 25th ? + +I just can't be certain either way. + +The good news is we moved $20 from our low this morning and an notional hedge of $8.08m per $1 price increase. + +So 8.08m x $20 = $161.6m delta or 1.297m shares of GME + +The thing that concerns me the most is we outperformed the market which indicates a degree of covering occurred outside of active fund trading and if OPEX is in fact delayed a day and we run tomorrow this could absolutely be another rug pull setup like November hedging their obligations slight in advance of settlement to make the peak of the cycle more obscure. + +&#x200B; + +[Hitting and closing in this high confidence threshold indicates the we still have further to run. Also the uptick in volume into close is good.](https://preview.redd.it/kdg0d1nbruj81.png?width=2458&format=png&auto=webp&s=76384f3bc8089463e6cb9771ee07bc8e44e403ef) + +Thank you and see you tomorrow. + +\- gherkinit + +&#x200B; + +https://preview.redd.it/o3u9zbrpnuj81.png?width=711&format=png&auto=webp&s=205f45cb9ab214e16571e8100b203fe619fabfad + +Edit 5 + +[Thanks for all the fish](https://preview.redd.it/hm8yma24ttj81.png?width=1404&format=png&auto=webp&s=d4ec3855889603aad7ad4fa859994c9749f627b1) + +Edit 4 1:40 + +Buckle up + +https://preview.redd.it/el6lde9vstj81.png?width=1566&format=png&auto=webp&s=cd31b55a392a69eeddb3708413fc2a20fbc3443e + +Edit 3 1:10 + +Moving into the late after-noon now up $13 from open. This is usually the time we start to see DP volume begin to settle. + +https://preview.redd.it/hc62xhpnntj81.png?width=1562&format=png&auto=webp&s=6522fea76302f0d4b32e63260c0f2f387c812654 + +Edit 2 11:18 + +Green baby! still need to break through 120 + +https://preview.redd.it/0dwyql9n3tj81.png?width=1565&format=png&auto=webp&s=73a04b924d3fe7ba4cee9d570bf72f3459e01016 + +Edit 1 + +Up $10 from market open right now we are moving with the market but I fully expect covering to begin into the afternoon other ETF basket stocks are already running. Bid/Ask is remaining wide due to by pressure and we are looking good to break 114.50 if we can get through 120 the delta hedge flips to favor long side at a 3:1 ratio. + +https://preview.redd.it/v3rblf8nvsj81.png?width=1557&format=png&auto=webp&s=e8c0d02f72dedcd2f0afe9f8afe60c535ba810a9 + +# Pre-Market Analysis + +GME down with the broader market, but this could just be illiquidity helping to drive the price down on low volume. + +Volume: 90.90k + +Max Pain: 120 + +Shares to Borrow: + +IBKR - 100,000 @ 1.8% (200k borrowed already) + +Fidelity - 31,495 @ 1.75% + +[GME pre-market 1m](https://preview.redd.it/dupsj4hfgsj81.png?width=1564&format=png&auto=webp&s=1fdc373585822d5ff55e38818d45d5e9383ccd97) + +TTM Squeeze + +https://preview.redd.it/wh0bhojpgsj81.png?width=2451&format=png&auto=webp&s=c25d9e88ebad097ba8dc66c27f156cd251275df3 + +CV\_VWAP + +[Arbitrage is high due to drop in foreign markets](https://preview.redd.it/i2vdby6vgsj81.png?width=2461&format=png&auto=webp&s=1127f9718e02aef7f0e8f9c19f36434e940d5513) + +&#x200B; + +**Disclaimer** + +*\* Although my profession is day trading, I in no way endorse day-trading of GME not only does it present significant risk, it can delay the squeeze. If you are one of the people that use this information to day trade this stock, I hope you sell at resistance then it turns around and gaps up to $500.* 😁 + +*\*Options present a great deal of risk to the experienced and inexperienced investors alike, please understand the risk and mechanics of options before considering them as a way to leverage your position.* + +\**This is not Financial advice. The ideas and opinions expressed here are for educational and entertainment purposes only.* + +*\* No position is worth your life and debt can always be repaid. Please if you need help reach out this community is here for you. Also the NSPL Phone: 800-273-8255 Hours: Available 24 hours. Languages: English, Spanish.* +That's it! We will get an 8k filling that will state marketplace goes live and it will be after hours. We will watch as these fucking shfs rush for the same door. It's going to be epic, and we will all laugh our asses off as it continues into the next day. 6 days to cover will be hilarious to watch Fr Fr! Soon my ape friends we will see Uranus! We are moments away! 🚀🚀🚀🚀🚀🚀😘😘🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀😎😎😎😎😎😎🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🤷‍♂️🤷‍♂️🤷‍♂️🤷‍♂️🤷‍♂️🤷‍♂️ +EU Citizen with a large cash amount in USD that I want to use to invest in EU domiciled ETFs. Should I convert the USD to EUR and purchase the ETF in EUR Trade Currency or purchase in USD Trade Currency? +For example, let’s say I wanted to purchase **Vanguard FTSE All-World UCITS ETF (USD) Accumulating**. +On the XETRA exchange the Trade Currency of this ETF is EUR but on the London Stock Exchange under ticker VWRA the Trade Currency is USD. +Hey guys, this is the portfolio I would like to invest in: + +&#x200B; + +**- iShares Core MSCI World UCITS ETF USD** (stake: 35%) + +**- iShares Core S&P 500 UCITS ETF** (stake: 30%) + +**- iShares Core Global Aggregate Bond UCITS ETF EUR** (stake: 20%) + +**- PHAU WisdomTree Physical Gold ETC 5%** (stake: 5%) (Sector: Gold) + +**- iShares Global Clean ENERGY ETF 5%** (stake: 5%) (Sector: Renewables) + +**- L&G Ecommerce Logistics UCITS ETF (EUR) ETF** (stake: 5%) (Sector: eCommerce) + +&#x200B; + +*Horizon: Long-Term* + +*Risk Level: Averse-Neutral* + +&#x200B; + +What do you think? + +Thanks! +Hi, + +My wife and I have bought a property in Germany last year. We got 220k at around 1% interest from kfw and 250k at 1.5% from the bank. We have the interest fixed for 10 years. + +Our initial plan was putting our saves into the traditional ETFs recommended here (developed world and emerging markets from vanguard) and when the time to renegotiate the debt comes we would evaluate if it was worth using that money for reducing the debt or if the interest was as low as we got initially just refinance the whole thing. + +I have a guy that takes care of my insurances and helped us with the financing. Some days ago he recommended us to make a Bausparvertrag (sorry I have no idea what the translation to English is). From his explanation I understood that I’d basically put money in a account every month with basically no return and in the exchange they’ll fix the interest rate for us in 9 years. The idea is that we’d be safe with a maximum interest rate for refinancing our mortgage in 9 years. + +I’m unsure if this is worth or not. Having some insurance of a maximum interest rate seems like a good idea but having all this money there sitting (for us sitting, I’m sure the bank will make good use of it) doesn’t sound good. + +Do any of you have experience with such contracts and or have an opinion about it? Any input will be highly +I am a university student and have 4.500€ in savings. I have all my money in a normal conventional bank account. Would they be safer (and easier to use) in revolut? + +For example , i never use my debit card for online purchases because i am afraid something could go wrong , but I'd like to be able to. Revolut offers virtual debit cards tho and from my understanding all of their stuff are completely free. Should I open a revolut account and transfer all my money there , or get a second debit card from another conventional bank (my country is Greece) and use the new card as a shopping card? +Hello! + +I was wondering whether the Stock Exchange in which an ETF is traded should play any role in our investment decision. + +For example, let's consider two UCITs which track the S&P 500 with exactly the same expense ratio. The one is trading in Milan Stock Exchange and the other in Deutsche Borse. + +From an investment perspective is it more rational to say that we "should" choose Deutsche Borse because Germany is a more stable economy than those of Italy and it has more transparent financial institutions and regulatory bodies? +I feel that the US has a large advantage being an actual country that can be governed centrally in a more effective manner and because the USD is the world reserve currency. + +Despite the fact that I feel like the EU is at an advantage in terms of social welfare and a more beneficial wealth distribution, it seems that, structurally the EU is getting further and further behind the US in economical terms. I also believe the late use of monetary policies by the EU to overcome the Great Recession have caused a slower recovery in comparison to the US and that the negative interest rate policy has had a slowing effect on its economy overall. In essence they kinda messed up in terms of monetary policy in my view. + +Finally, big downside for the EU is that they cant print money endlessly like the US which seems to be in a much stronger position to do so. + +How do you see this? +I have some questions about legitimacy of the e-Residency. Imagine you work for an spanish company, and while you work, you are having some good savings. I don't want to quit my job, just wanna save more efficiently. + +My long term goal was to open a small Limited Liability Company to keep my net worth secure (at the moment, this is irrelevant as I have a very small net worth, just planning for the future). My idea was to invest around 30-40% in real estate in Spain, and the remaining in US and European Stocks and a little in crypto. + +As my company will be mostly working in foreign markets, is it legal to use an Estonia Company to handle all the activity? + +I am aware that that I will have to pay the personal income in Spain, but as I don't want to gain any money for the moment, that's not concerning. + +Am I missing anything? +I hate to say it but ETH is fucked and so are all the ETH-based coins. + +Right now Coinbase is having massive congestion problem to send/receive any ETH or ETH-based coins, including USDC. Go look at /r/coinbase + +People are reporting a day long delay for any ETH related coins transferring. Because of the insane gas price, ETH aren't just scalable right now ... with this kind of delay I would say it's virtually unusable as a cryptocurrency + +This is the opposite of what crypto supposed to do. If im going to wait hours or days for money to move, I might as well just as bank wire. +The freighter jet is among a fleet of 40 leased from Atlas and Air Transport Services Group to improve a supply chain straining to keep pace with the retailer's growing sales and swelling ranks of Prime members. +Today I spent $443 out of my savings account. + +My savings account now has $272 in it. + +Why? Medical bills to stop it from going to collections after receiving no notice because someone authorized paperless on my billing. If I didn't have these savings I'd be in collections. + +Please. This is just another reminder. Even if its $10. Savings are important. +So, funny story I'd like to share here. I never knew this was something that's acceptable, let alone legal in America. So apparently, when someone buys something and they have buyer's remorse they can have a big-bully (such as Fidelity) go beat up the seller (me) and just forcefully take the money back and give back the traded item. I never knew this was an acceptable and legal thing. + +In this case an option contract that I sold for $5 at 10:19 am today was then forcefully returned 4 hours later to me after which point (because it's 0 DTE) you couldn't even market sell for $.05 to close because of 0 bids. They bought a vase from me, got pissed and had a buyer's remorse, went to the big bully who agreed with him, and then brought me worthless broken vase, had the big bully beat the living shit out of and take my money to give back to him. + +I made a transaction earlier today. + +10 SPX 8/11 $4280c was sold for $5 a pop as follows through Fidelity at 10:19 am EST: + +&#x200B; + +https://preview.redd.it/c71hoz7cv6h91.png?width=1002&format=png&auto=webp&s=c5965566632cd329ac1b2d267aeb8ba49c1b4cae + +I had 20 of these contracts that I bought for sale for $.85 a pop, and had 10 for sale at a limit price of $5 a pop. + +&#x200B; + +&#x200B; + +https://preview.redd.it/wvtdiekyv6h91.png?width=1194&format=png&auto=webp&s=df2971d1389069f946513d90aa61a21d57570bc2 + +And then about 4 hours after the sale, Fidelity reversed the transaction. They debited my account $5k ($500 x 10 contracts) and gave me back the contracts that had a bid/ask of $0/$.05 as follows: + +&#x200B; + +[WTF?!](https://preview.redd.it/shkjr48ov6h91.png?width=1188&format=png&auto=webp&s=276976bf4b256b331d0e22d58acaea9b35f062c2) + +Fidelity beat the shit out of me, turned me into a bloody pulp, and then had the previous buyer effectively pee on me and give me back a worthless broken thing that I couldn’t even sell for a penny to anyone. + +Justice of course can be served right? MAYBE? Of course, story gets sadder in reality. I call Fidelity. They tell me straight up (well after holding and talking with them for 2 hours) that, “CBOE sent an industry wide letter saying that these specific orders were busted and must be reversed”. From here, our friend from Fidelity tells me that they cannot do anything and that I must be happy with the broken vase and should be grateful that the erroneous trade was caught and reversed. And he proceeds to tell me that “Imagine if you were on the other side of that trade, wouldn’t you want the trades be reversed??”. What he said boiled down to this, the price I received was an “unfair” price that’s completely out of the norm because the contract “never traded that high again” and so it had to be reversed out. + +Yeah buddy, I can also totally imagine how the trade went. Some moron basically fat fingered and market bought, which effectively cleared out everything all the way up the chain to not only hit my limit prices but even double that. As so: + +So this rich fucker (I’m assuming, yes, but we are talking about 205 contracts that were very likely bought by this same person at exactly 10:19:39 AM EST, nobody poor has that kind of money to throw on 0 DTE SPX contracts) fucked up, and then he had the gall to call his friends at CBOE, who he probably has martinis with during lunch, and asked them please reverse them. Which they happily obliged. 4 hours AFTER the transaction. What’s even funnier is I was debited $5k and given 10 of the said contracts with no cost basis. + +IF someone rich can just have their trading mistakes reversed like this when they fuck up, how are we supposed to trust out limit prices? Better yet, what about everybody’s market order fuck ups here? Apparently you can go back and have them reversed because of “unfair” pricing for your dumbassery. If this guy had his transaction reversed why not you or me? + +Alright now I’m looking at you Fidelity. How can you have customers believe your order history or even anything you say to them now. And here I thought you were one of the “better” customer oriented ones from the industry. Fuck you is all I can say. You just stole $5k from me. I write this to as a sad and cautionary tale to you retards not to deal with Fidelity. I still have the fucking worthless contracts sitting in my account right now. Gdamnit I need a drink. + +&#x200B; + +TLDR: someone (very likely rich and connected) fucked up and made a market order on a very very illiquid financial instrument, i.e. options contract, and then very likely had their friends at CBOE reverse the transaction and left me holding the $5k bag. Fuck Fidelity. + +&#x200B; + +EDIT: I submitted a formal complaint with the SEC and FINRA. What I have a particular beef with is the fact that the reversal happened FOUR HOURS after the event, and I was handed a worthless contract. Someone SHOULD be held accountable at these giant corporations for that loss of mine. I sat there and just got rekt for no reason. +[**GameStop Wallet Support**](https://support.blockchain.gamestop.com/hc/en-us/sections/4412111751955-Getting-Started) + +# 🟣 [Computershare Megathread](https://www.reddit.com/r/Superstonk/comments/v2ff5r/drscomputershare_megathread_062022/) + +>Wondering what DRS is? Want to know how and why people are Direct Registering their shares? Here you'll find our guide and additional resources, as well as a welcoming community answering questions in the comments! + +**Read** [**the Rules & Wiki**](https://www.reddit.com/r/Superstonk/wiki/index) **||** [**MOASS FAQ**](https://www.reddit.com/r/Superstonk/wiki/index/faq) **|| Join our** [**Discord**](https://discord.gg/Superstonk) + +**​**[**What's GME & should I consider investing?**](https://www.reddit.com/r/Superstonk/comments/qig65g/welcome_rall_looking_to_catch_up_on_the_gme_saga/) + +**Library of Due Diligence** [**GME.fyi**](https://fliphtml5.com/bookcase/kosyg) + +Low karma? Want to feed DRSbot? [Post on r/GMEOrphans](https://www.reddit.com/r/GMEOrphans/comments/qlvour/welcome_to_gmeorphans_read_this_post/) + +How to [Filter by Flair & Search](https://www.reddit.com/r/Superstonk/comments/v0oxp2/how_to_filter_by_flair_search_for_posts_on/) on Superstonk + +Tag u/Superstonk-Flairy for help with user flairs +Hey all, just getting into real estate and this is something I've been wondering but can't really find an answer to. Let's say I have $400k and am looking to buy a $400k property (all in costs), would it be better to buy that one property in full or to put in the down payment, take out a mortgage, and use the remaining funds to do the same with additional properties (dp + mortgage)? For arguments sake, let's say each property is $400k, with 20% down payment, and 3% mortgage if that matters. + +Also if you could please provide your reasoning it would help with understanding my particular case and for future usage. +"Fox Broadcasting network and stations, Fox News Channel, Fox Business Network, FS1, FS2 and Big Ten Network" will be spun off to Fox shareholders. The rest of Fox is being bought by Disney. + +Shareholders of 21st Century Fox will receive 0.2745 Disney shares for each 21st Century Fox share they hold. No cash, all stock. +“For over 60 years, I’ve been able to tap dance to work, doing what I love doing,” Warren Buffett says in an HBO documentary slated to premiere at the end of the month. “I just feel very, very lucky.” In fact, he says he “won the ovarian lottery.” +http://www.marketwatch.com/story/from-6000-to-67-billion-warren-buffetts-wealth-through-the-ages-2015-08-17 +I know many apes still wonder what will cause the price to go parabolic for MOASS, once the float is DRSed. let's go through it logically + +- when DRS numbers approach the breakpoint, Computershare buys have to eventually get more expensive. +- because as long as there's real buy pressure while the float gets smaller and smaller, there comes a point when Liquidity Providers can't fulfil buy orders anymore, except by raising the price. +- the best part is no one has to spend millions to keep buying even when the price is parabolic. the way CS market buy works, apes should begin to see smaller and smaller fractionals for the fixed amount they spend. +- with the DTCC running out of shares and apes buying more, the price can only go up. this signifies real price discovery for the first time ever + +where is the breakpoint? - the only way to find out is to go past it, and keep going no matter what. like just now with the instutional selloff that changed float DRS percentage from 54% to 47%, apes keep going and [it's already back to 49%](https://www.reddit.com/r/Superstonk/comments/wweh7b/wasnt_this_47_due_to_institutional_selling_we_are/). this is how MOASS works, relentless neverending buy pressure. + +- CS market buy is the perfect tool for price discovery in the MOASS. + +Wall Street wants retail scattered on hundreds of brokers with no effect, but apes have access to Computershare now. the most diamond handed investors of this generation, with a plugged-in controller. when shit hits the fan, Computershare buy order is the way 💎🙌🚀 +I don't know about you, but it seems every man and his dog is now a stock market expert. My daily coffee with mates is now dominated by stock market chat, when it used to be politics or office gossip. + +Everyone thinks they have 'the gift' because they have done well in the past 12 months. + +Anyone else finding this? + +&#x200B; + +EDIT - apparently the 'shoe shine' quote is a bit lost on some people. Here is the context; + + [https://rationalwiki.org/wiki/Great\_Depression#The\_Roaring\_Twenties\_come\_to\_a\_close](https://rationalwiki.org/wiki/Great_Depression#The_Roaring_Twenties_come_to_a_close) +This week's biggest gainer: EOS (+35%) + +This week's biggest loser: XRP (-33%) + +Portfolio gain this week: -14% + +[Week 22 Results](http://blog.mclain.ca/buy-and-hold-31-cryptocurrencies-for-365-days-week-22/) + + +See the rules for the experiment [here](http://blog.mclain.ca/31-crypto-currencies-week-1/). +I sold a Covered Call at a strike I'm comfortable with. The price has passed the strike. It expires on Friday and I was just going to let my shares get called away... Is there any downside to continually rolling it for more credit? It seems to me that only risk would be that I would hold the Underlying and if it went back down, I would be losing value (but keeping premiums). On the flip side, if the price continues to go up, I would end up selling at the same strike but have banked more premium. Am I understanding this correctly? +My wife and I settled on a home back in December of 2021 when hardly anything was available. It has a small lot and cost $420,000, but we were quoted at a 2.25% interest rate, so it was within our budget. We signed a purchase agreement contract, but they couldn't lock in the rate because the house was still being built. They said we could lock in our rate about a month from completion. We still haven't been able to lock in our rate and now the rate we were quoted at has almost doubled to 4.25% +Should we be looking to lock in an interest rate for a different home that's already built? Or should we keep waiting for the home to be finished as interest rates continue to rise? +We were able to afford the home at even 3%, but now I'm looking at having to get a second job as our rate inches towards 5% +Good evening everyone, + +As we head into our next trading day, I was wondering what everyone had on their watch lists? I’m currently holding BOXL and that’s it. I sold off all my other positions. I’m looking at maybe getting back into IDEX but I’m not 100% on that yet. Not penny stocks but I’m also considering airlines as a play (even long term maybe). Would love to hear thoughts on that. + +I was wondering what everyone is holding/has on their watchlists. + +Have a good night everyone and let’s hope for a green week! +I see a lot of posts telling people what not to submit and blah blah blah….who put these people in charge!? Submit what you feel is dope! That’s all! If GameStop is for it, it will get selected and that’s that! Stop telling people what they can and can’t do! +I assume when Jeff Bezos sells $1 billion in Amazon stock to fund Blue Origin, he doesn't put a market sell order for 500k shares on Robinhood (can you even have a $1 billion account on Robinhood?). + +Do they hire full time traders to sell their shares over time to not affect the price? Do they sell all the shares at once to an investment bank which then figures out how to liquidate it? Can HFT firms frontrun the sale by selling their shares first and buying them back after the price goes down? +TLDR: EV in the next 10 years is going to become the biggest industry in the world, not because of it's green energy but because of automation. They're going to lead to the largest mass unemployment rise as they make drivers unnecessary + +I'd love people's opinions about my take on the future of EV and whether I'm off base or too optimistic + +Disclaimer: In NIO for 140 shares @ $22 + +My main argument: EV companies are currently amazon in their bookshop phase + +I would argue that the valuations of both TSLA, NIO and other large EV companies is seriously undervalued - I'm not basing this on the number of cars they manufacture nor the effectiveness of their electric battery potential but on the billions they're investing in the development of full self driving automation. + +In the next 10 years, we are likely to see full automation especially with the advent of quantum computing leading to a huge increase in computational power ([https://www.sciencemag.org/news/2020/09/ibm-promises-1000-qubit-quantum-computer-milestone-2023](https://www.sciencemag.org/news/2020/09/ibm-promises-1000-qubit-quantum-computer-milestone-2023)) - The companies that are heavily investing in developing this technology aren't the classic car manufactures such as GM, Chevrolet or Chrysler but instead the large EV companies that have grown exponentially in the past year. Like many people I'm viewing companies like NIO or TSLA as tech companies and not car manufacturers. They're main value is in the code they develop for automation. + +Once full autonomous driving becomes realistic, these companies can lease their code as a service and basically replace the need for any job which requires drivers i.e. delivery drivers, truck drivers, taxi drivers. + +The main example I've been using for this is Domino's Pizza in the UK - They have about 1126 stores in the UK, let's say they conservatively they hire 5 delivery drivers per store and those drivers on average work about 5 days a week and a total of 6 hours per day (the three hours around lunch and three around dinner) - Let's also assume they only get paid minimum wage - This comes out to a total expenditure of about £80mill per year ($110 mill) for dominoes just based on paying their drivers wages, not countering in fuel or other expenditures that they do also cover - And that's only one company in the UK. + +If automation occurs, which again these companies are investing heavily in and the underlying infrastructure and technology is beginning to reach basic requirements, these EV companies can create a code as service model along with the profit from actually selling the car and basically make drivers redundant + +My argument is that basically at the moment these EV companies are amazon in their bookshop phase, people are betting that they'll sell lots of books (cars in this case because they're clean energy) and I think they're going to end up becoming juggernauts that basically take over our daily lives to the same extent amazon now does + +Obvs I might be wrong and in fact I'd love to hear some bearish arguments - I'm not saying we're not in a bubble but I think these companies in 10 years time will be steals at their current prices + +&#x200B; + +Edit: A lot of people have mentioned the quantum computing point and how far we are away from it in normal conditions- which is a reasonable and valid point but I would argue that if you look at the rate of change of technological advances in the past 20 years (your phone in 2000 vs your phone now) - its not that crazy to say that this growth has risen exponentially and will carry on to meaning that **ONE OF THE MANY BARRIERS** to full automation will be knocked down (i.e reaching the necessary computational power for an ML model to process images real time) and could act as a domino effect +I invest in differents funds from INDmoney app. It created multiple follios based on different dates of SIP in the same fund. How do I merge all these follios of the same scheme? I have tried calling Customer service they are asking me to visit the physical office. Is there any other online option? +I have a few questions around this that I am really confused about: + +1. If the amount I transfer in a year is less than 7 lakh, would even the banks not deduct that 5% tax or would it just be claimable in tax refund? +2. If the amount is more than 7 lakh, the 5% tax that is deducted, can I claim it back when filing ITR? Does that 5% tax work like an already paid tax on US investments? For ex. If my tax on US investment is supposed to be 5 lakh, but 50 thousand tax was already deducted when I transferred funds to US, would I have to just pay 4 lakh 50 thousand in taxes? + +Please explain to me like I'm 5. This is my first time paying taxes. +Is it safe to say that it would be smart to take my money out of banks? For example, chase, Wells Fargo, etc… + +With the economy on the brink of collapse, would it be smart to take my money out of the bank? If so, where would it be safe to put? To keep in cash under my mattress? To put into a credit union? To put in a federal credit union? + +I am genuinely interested to know what the best thing to do is here. Smart apes please chime in! + +Thanks 😊 +Welcome to the Weekly Community Discussion thread of /r/EthTrader. + +This thread is a place for community meta discussion - to learn or make suggestions for how community members could be better served. [Donuts](/r/ethtrader/wiki/donuts) are a welcome topic here as is non-donut related discussion. +Like it or not, the banks are here and they are not going anywhere. They will always be here, doing their job which is fine. + +As much as cryptocurrencies have an impact on people, and therefore on banks, it is the governments that will not allow banks to fail. + +There will always be people who will use the banks. + +But due to the influence and growth of cryptocurrencies, banks will have to change their way of business. + +They will have to improve the conditions for their clients, because people now have an alternative, and that alternative sounds good. There are already people who have most of their money in cryptocurrencies, but all of them leave some in the bank or in fiat in case something with crypto goes wrong. + +Banks have been deeply ingrained in our society and our system for a long time. + +It takes time to crypto do the same but it will happen. + +If banks are going to go to war with cryptocurrencies, let them go. We know very well that nothing can happen to them, and competitive and evolving financial system benefits us all. + +&#x200B; +My friend and I have a rule for buying new games that come out these days. We say that we have to play the game for 1 hour for every dollar the game costs in order to get our worth out of it. So a 60 dollar game needs 60 hours of gameplay to be worth the purchase. A 30 dollar game needs 30 hours, etc. + + +I bought a share months ago at around 200. I think it's like 220 or something, I honestly couldn't tell you. But through all the memes I've read, wrinkles I've added to my brain reading DD, etc., I've gotten my 200 dollars worth of enjoyment out of this saga. The price could literally drop to 0 and I'll still say "damn that was money well spent" and then hop on dota 2 and add my 16,000th hour without a care in the world. + + +I'm never selling. Maybe not ever, even after the MOASS. It literally wouldn't affect my day-tp-day budget whatsoever, the money has already been written off as "well spent, worth doing again". + +Goodbye. +I'm from Lebanon and if some people here are not aware, we're going through a disastrous economic/social/political crisis, went through a 2700 tons ammonium nitrate explosion at the port, and to top it all COVID lockdowns. +I lost my first job because of the explosion and my second one because of lockdowns, banks won't allow us to withdraw our own money and our currency is worthless now due to a 380% inflation rate (1USD is now worth around 8,500Lebanese pounds) +In July I put all I had left in Bitcoin, and after the explosion in August, I started freelancing for Bitcoin jobs I found on some subs here and from my Instagram illustrations page. +In the last 4 months I saved more than I did in the last year and, not only my money did not lose its value but it practically doubled! +Bitcoin is freedom, Bitcoin is our only way out! +I understand that if you're a day trader you must be sh*tting yourself right now. Fair enough. + +But to all the presalers and holders... lets be real- these prices were considered expensive only a couple weeks ago. The fluctuations in this market are crazy so yes it is a risk to hold if you're looking for short term gains. But if you're looking for long term gains then its a risk to sell. The long term gains outweigh the short term gains every time. + +Bitcoin dropped from $30 to a couple dollars and then took almost a whole year to rise again to its ATH at $1100 before slowly stabilizing between $300-400. Looking at all the development going on top of the Ethereum platform I personally think we'll see the price rise a lot faster that bitcoin ever did. + +Yes we all wish we could time the market - sell high and buy low but when/if you understand the potential ethereum has - you realise being greedy and failing may prove to be very costly in the long run. +Inflation is setting in as a reality that we will have to deal with, same with an aggressive taxation policy. In the best-case scenario, we're heading for a bit of turbulence. + +In such times, gold has been retail investors' best friend. + +In the midst of the current climate, **what precious metal penny stocks are you fine fellas bullish on?** + +**My bullish gold pennystock watchlist:** + +* Harmony Gold Mining Co. (NYSE: HMY) +* Cortus Metals Inc (CVE: CRTS) +* Yamana Gold Inc. (NYSE: AUY) +* IAMGOLD Corp. (NYSE: IAG) +* New Gold Inc. (NYSE: NGD) +* Iamgold (NYSE:IAG) +* B2Gold Corp. (TSE:BTO) +Typically the term is used for the whole economy but the same mechanism might apply to the bitcoin market: +1) Bitcoin exchange rate is rising +2) Bitcoin owners expect it to rise further so defer trading it +3) Shortage of bitcoins causes the exchange rate to rise +4) Rinse and repeat + +Is this what is causing bitcoin's meteoric rise? + +Edit: One more question. A traditional deflationary spiral goes hand in hand with ever falling production rates. Would the same be happening now to the (black) markets that only trade in bitcoin? +Headlines and articles on how billionaire’s wealth has increased during the pandemic is widespread. + +Are there any well-informed research done on the topic as to if this statement is a general truth or specific to some groups/countries? + +Have the ultra rich increased their wealth more rapidly than the rest of the population? +If so, why has that happened, and is it specifically linked to the pandemic? + +I’m not interested in only the state in the US. Are there countries in the world where this trend is not true (or not as apparent) and why is that? +Somebody told me it's because the government can't accurately predict the demands of the consumer so they often incorrectly allocate resources causing shortages and surpluses in the market. Can somebody explain to me why? Why can't the government accurately predict the demands? +If I were to go into the field of economics would it be possible to approach it in a way that isn't completely influenced and oriented to capitalism? It seems like a fait accompli that trained economists become capitalists, and that seems to me like it could cause flaws in the overall quality of literature it produces. Is there a field of economics dedicated to examining how it is and isn't influenced by the status quo structure of the economy? +The essence of the economy is production, exchange and transportation, so coastal countries and cities are economically developed because of the low cost of water transportation.Do you think that's right? +Sorry if this isn't specific enough, I just am not even sure of the very basic level of impact this would have. I like to write and this is something I think a lot about when it comes to world building futuristic settings. + +To be more clear, let's just say one day someone invented a 3D printer that was accurate to the atomic level. They then started printing off replicas of that 3D printer (Using the air, or their garbage, or whatever as material) and handing them out to people, governments - whoever. In theory eveyone can now have pretty much anything for free. What happens to money? To jobs? Governments? + +Don't get too caught up in the hypothetical. I'm just trying to clarify the gist of my question. Theres probably some stupid reason why it doesn't make sense but hopefully it shows where my heads at with this question. +Is it most likely that the quality of the company's already-existing products will degrade, because less % of the company's resources/attention is dedicated to the already-existing products (ceteris paribus)? + +(Should this situation be analysed ceteris paribus, or does it render the model too simplistic to provide a meaningful answer?) +The neighborhood where I own a condo is experiencing a lot of new development, mostly mid-rises. In general, what does this historically mean for real estate prices? + +On one hand, the additional supply should drive prices down. Additionally, builders building could be a signal that the area is “overvalued”. On the other hand, this should also stimulate the area, encourage new businesses, and generally make the area more desirable. + +I’m curious what research exists to help answer this and what the findings are. + + +Hello Reddit , + +Here in the Netherlands we have year long access to oranges, this is of course great, the downside is that 99% the oranges we can buy here come from South-Africa. + +Now i recently traveled to Greece and talked with distressed farmers that couldn't get their product on the market because the price of picking the orange was higher then its value. + +This saddens me greatly, when i got back and saw the oranges in our supermarket with the label "South-Africa" i was a bit baffled and confused, hens why i wanted to have this answered + +What i wanted to ask is why are we buying food out of the EU zone with foreign currency, this is shooting yourself in the foot, we should be united and buy our products locally, now i understand that citrus fruits are not available on the northern hemisphere year long, but this is the period where citrus fruits are plucked among EU countries like Greece. + +When i see oranges rotting on the ground in Greece i feel like we failed as a EU. + +And trust me, i tasted them and they where delicious! + +In short, why are we buying food stuffs internationally with foreign currency, while we don't buy fruits locally with Euro. +I see people on the left saying it's just a juicy handout to the rich while I see people on the right saying it also helps the lower and middle class. What does it actually Do and what are it's implications on the low, middle and top class? +Like this morning, on the radio, some people are complaining passionately about WalMart's low wages and high profits. Maybe that's true, but I'd like to understand the issues better, and confirm the facts myself. + +I'm not sure what numbers I should look for. Net profit, after-tax profits? Return on capital invested? Dividends? And how do I compare those numbers to other similar companies, or the industry as a whole? I hope there are fairly simple ways to understand numbers like this, and to look them up. Thanks in advance. +You go to Mexico and change your USD for Pesos. Does that USD get returned to the US? Or whatever country the money is originally from. Or what about money actually spent in foreign countries at the tourist shops that except USD. +I'm planning to enter the [GWU grad certificate in math](https://math.columbian.gwu.edu/graduate-certificate-mathematics), partially to bolster an econ phd app but also as a bridge to their MSc in Applied Math. I know I can do an econ phd without these (I'm location-restricted anyway, so top 10 schools already aren't an option), so this is 20% for PhD apps and 80% because I want to learn more about higher-level math :) + +The certificate is only four courses; and two are filled by Real Analysis I and II. Because I haven't taken the courses already, their descriptions aren't very illuminating. So, I'd appreciate thoughts from more math-literate people on which of the other courses are the most relevant to econ research (and which fields!). Thanks in advance! + +My options, in (very weakly) suspected order of usefulness: + +**MATH 6330. Ordinary Differential Equations. 3 Credits.** + +Existence and uniqueness of solutions, continuity and differentiability of solutions with respect to initial conditions. Properties of linear systems, phase portraits, planar systems and Poincaré–Bendixson theory. Prerequisite: [MATH 4240](http://bulletin.gwu.edu/search/?P=MATH%204240). + +&#x200B; + +**MATH 6522. Introduction to Numerical Analysis. 3 Credits.** + +Computer arithmetic and round-off errors. Solution of linear and nonlinear systems. Interpolation and approximations. Numerical differentiation and integration. Eigenvalues and eigenvectors. Prerequisite: [MATH 1232](http://bulletin.gwu.edu/search/?P=MATH%201232) and [MATH 2184](http://bulletin.gwu.edu/search/?P=MATH%202184) and knowledge of a programming language. + +&#x200B; + +**MATH 6214. Measure and Integration Theory. 3 Credits.** + +Lebesgue measure and integration in abstract spaces. Probability measures. Absolute continuity, the Radon–Nikodym theorem, measures on product spaces, and the Fubini theorem. LP spaces and their properties. Prerequisite: [MATH 4239](http://bulletin.gwu.edu/search/?P=MATH%204239) . + +&#x200B; + +**MATH 6810. General Topology. 3 Credits.** + +Topological spaces, bases and subbases, open sets and closed sets; continuous maps and homeomorphisms; connectedness and compactness; metric topology, product topology, and quotient topology; separation axioms; finite topological spaces, covering spaces, and fundamental groups. + +&#x200B; + +**MATH 6820. Algebraic Topology. 3 Credits.** + +Fundamental groups and the Van Kampen theorem; simplicial complexes, simplicial homology, and Euler characteristic; singular homology, Mayer–Vietoris sequences. Topics may include cohomology, cup products, and Poincaré duality; classification of surfaces; knots and their fundamental groups. Prerequisites: [MATH 6810](http://bulletin.gwu.edu/search/?P=MATH%206810) or permission of the instructor. + +&#x200B; + +**MATH 6318. Applied Mathematics I. 3 Credits.** + +Boundary value problems in one dimension, first order equations, method of characteristics, shock waves, linear elliptic and evolution equations, calculus of variations. In addition to the specified prerequisites, students must have completed an undergraduate course in differential equations prior to enrollment. Prerequisites: [MATH 2184](http://bulletin.gwu.edu/search/?P=MATH%202184) and [MATH 2233](http://bulletin.gwu.edu/search/?P=MATH%202233). + +&#x200B; + +**MATH 6319. Applied Mathematics II. 3 Credits.** + +Stability and bifurcation, perturbation methods, Sobolev spaces, wave equation, nonlinear partial differential equations. Students must have taken an undergraduate course in real analysis in addition to the specified prerequisites. Prerequisites: [MATH 2184](http://bulletin.gwu.edu/search/?P=MATH%202184) and [MATH 2233](http://bulletin.gwu.edu/search/?P=MATH%202233). + +&#x200B; + +&#x200B; +Full disclosure, I’m 16 but I’ll read anything and I’m really interested. I listen to some podcasts and I want to learn about economics all around, any sub-topic + +TIA +In a [marginal revolutions post](https://marginalrevolution.com/marginalrevolution/2019/05/yes-there-has-been-an-american-male-culture-collapse.html#comments)Tyler Cowen highlighted the following paragraph from an NBER paper. + +&#x200B; + +***At the same time, the labor-force participation rates of men without a college education have steadily declined. While wage and participation trends are often linked for this population, we have argued that this connection cannot solely be the result of an inward labor demand shift across a stable and elastic labor supply curve.*** + +&#x200B; + +What is this highlighted text telling me, and why is it important? +I'm trying to picture the incentives and disincentives that would be unique to this economy for a worker seeking to change employment. + +Any wider observation outside labor too. Would an economy of co-ops have only loan-based rather than equity-based investment? What effects might that have? + +I know this is asking for the results of a heavily unorthodox model of organization so I'm really just asking for reflective intuition, not much more. +I'm thinking back to an intermediate micro class I took where we discussed Edgeworth boxes (2 agents), and how given any initial endowment there is a price vector through that endowment such that the price vector is tangent to both indifference curves at the same point (so that edgeworth bargaining results in the same final allocation as if the agents liquidated their endowment for money and optimized their consumption with the price vector that we have said exists). Can someone please give links on how this works, and can this idea be used to prove somehow that P = MC in the limit of a large number of agents and a non-pathological initial endowment? +Both [EITC](https://en.wikipedia.org/wiki/Earned_income_tax_credit) and the minimum wage seem to add to workers' earnings without adding to labor demand. + +If you raise the returns to having a job, it seems like more people would be interested in having that job and would compete more intensely to get it. But the extra "demand for jobs" from workers doesn't correspond to extra need for labor, so I would expect labor supply to equilibrate with labor demand through workers spending all their extra earnings on wasteful arms races to fight for the limited jobs available. And this applies to both EITC and minimum wage. + +What am I missing here? +As soon as I heard this part of Trump's speech yesterday, I became concerned. It seems like we have a leader with an early 20th century mindset leading America during the early 21st century. +I was trying to move to MATIC and I had about $100 dollars in ETH in my MM wallet to move about 400 MATIC. I was going to move it to Polygon network. It asked for the first fee, which was about 23 dollars. Approved. Then it pops up a Complete Deposit fee of over $100 dollars, which I didn't have, so I fucking lost the first 23 dollars, and now I need more money just to get my fucking money out. This is absolutely absurd and no one is ever going to use ETH in the real world if shit like this occurs. +In March, 2020, Bitcoin was priced at $5800. SPRT’s mining capacity enabled them to mine 8.5 bitcoins per day valued at 50k. At bitcoins price today, that equates to approximately $297,500 per day or $108 million per year. These figures do not include the additional mining equipment and facility SPRT has added since then. At a figurative Bitcoin price of 70k, SPRT’s old mining equipment with the addition of a new facility SPRT would be mining approximately $432 million per year placing a ten times evaluation of existing shares, and Greenbridge Holding's acquisition of support.com would establish a market cap around $5 billion. This would value the stock with current market shares of 25 million around $200 per share. Im not saying it gets there but RIOT MARA and SAVA exceeded expectations. + +The unique opportunity provided by an equity investment in Greenridge Generation Holdings corp, including the fact that Greenbridge is anticipated to be the only publicly-listed, vertically integrated bitcoin mining company in the U.S. with its own captive power plant and access to a low-cost natural gas source, resulting in comparatively low bitcoin mining costs. IDK sounds super bullish to me. + +heres the merger [https://www.businesswire.com/news/home/20210322005353/en/Bitcoin-Miner-Greenidge-Generation-Holdings-Inc.-and-Support.com-Inc.-Nasdaq-SPRT-Announce-Merger-Agreement](https://www.businesswire.com/news/home/20210322005353/en/Bitcoin-Miner-Greenidge-Generation-Holdings-Inc.-and-Support.com-Inc.-Nasdaq-SPRT-Announce-Merger-Agreement) +# The worlds’ wealthiest nations are aiming for cryptos, restricting, amongst others, the following: + +* Peer-to-Peer Transactions; +* Stablecoins; +* Private wallets (cold storage, phone and desktop apps); +* Privacy (privacy coins, mixers, Decentralized exchanges, use of TOR and I2P); +* Former ICOs and Future Projects (DeFi, NFT, smart contacts, second layer solutions, and much more). + +**In addition, these new regulations intend to:** + +* Force those active in crypto to be licensed and regulated as banks (responsible for KYC and transaction tracking); +* Create full transparency for ALL transactions; +* Exclude and freeze assets of persons, activities, and countries labeled a “risk;” +* Force the inclusion of user information with all transactions; +* Revoke the license of those who don’t comply. + +In short: they want to change the way the space can operate. As you’ll discover, the regulation rolled out aim to create a system of complete transparency and control. + +At the same time, regulatory clarity could pave the way for the next stage of adoption. + +&#x200B; + +## What Can You Get from This Due Diligence + +For years, we wondered if governments would “ban Bitcoin.” As it turns out, they will not. Instead, they intent to simply absorb cryptos into the existing regulated financial system. + +This due diligence is based on new international regulations. This DD reveals exactly what the coming regulations mean for cryptos, who is behind them, and how they will be implemented. Next, this DD highlights the most revealing and stunning clauses. And finally, it summarizes which activities are likely to thrive and which are bound to suffer, so that you can prepare yourself. + +&#x200B; + +## Why Now? + +In 2018, the news that Facebook was creating a crypto currency shocked international regulators. Until then, they didn’t see cryptos as a risk to the stability of the global financial system. However, Libra, the coin Facebook proposed, was a so-called stablecoin; it maintains its value relative to fiat currencies such as the USD. They quickly realized what would happen when a company with a billion users creates an instant payment system that is cheaper, faster and more user-friendly than the current financial system. + +This topic was discussed at the highest levels of government; the G20, an international forum for the governments and central bank governors from 19 countries and the European Union. They engaged an organization called the Financial Action Task Force (**FATF**). + +This organization has passed similar legislation for banking and financial service providers around the world. They are responsible for the fact that all crypto-currency exchanges where fiat is exchanged for cryptos have the same KYC and anti-money laundering requirements as banks. Now, they are going to use this framework to focus on the elements of the industry currently outside their control, and declare what is, and isn’t acceptable. + +&#x200B; + +## New Guidance on Bitcoin and Cryptos + +The latest draft guidance of the FATF, to be implemented in July 2021, is called *“Guidance for a risk-based approach to virtual assets and VASPs”* (**GVA**) \[1\]. This DD is based on this GVA. + +As you will learn, they have a deep understanding of what is happening in the space. Moreover, they take the expansive view that *“most arrangements currently in operation,”* including *“self-categorized P2P platforms”* may have a *“party involved at some stage of the product’s development and launch”* who will be covered by this new legislation. (GVA, p29) + +&#x200B; + +## Why do the FATF regulations have global reach? + +Since FATF isn’t an official government agency of any country, they cannot create law. They issue what is known as “soft-laws”: recommendations and guidance. Only when this guidance is implemented in the laws of the countries, they become “hard-laws” with real power. + +In theory, they are thus subjected to the formal law-making process of law-giving countries. However, countries that don’t participate are placed on a list of “non-cooperative jurisdictions.” They then face restricted access to the financial system and ostracism from the international community. For this reason, almost all nations implement these recommendations. + +It also must be said that national governments, especially in the Western world, highly value this kind of international cooperation and the power it gives them. Many such treaties are passed into law with little opposition or delay. + +Once these treaties are accepted, they become part of a body of law called international law, a type of law in many cases superseding national laws. Unknown to the general public, international law is increasingly being used as a backdoor for passing invasive regulations such as these. + +It must be noted that people working for this Paris-based organization are faceless bureaucrats who have not been elected, their procedures and budget are not subjected to democratic oversight, and they are almost impossible to remove from power. Like most international organizations, they fall under the Vienna Conference on Diplomatic Intercourse and Immunities.\[2\] As such, they enjoy immunity for their actions, are exempt from administrative burdens in the countries they are active, such as taxes, and free from most COVID travel restrictions. + +&#x200B; + +## When will this “Guidance” be Implemented? + +The GVA was published in March to be subjected to public consultation. This gives it the appearance of the public having a say in the implementation of it, but when you read it carefully they will consider feedback only on “relevant issues” they themselves selected. Other feedback might be considered in the next review in 12 months (by then, most current recommendations will likely have been passed into law). In other words, this will be it, with minor adjustments. + +June 2021 FATF previewed all feedback and July 2021 these new “recommendations” would become official. However, last Friday, June 25, FATF postponed the finalization of the recommendations to October 2021. From that day forwards, we can expect these recommendations to start being implemented in our national legal systems, and as such, start affecting our lives. + +This process has been successfully used in the banking system and tax systems―it is now coming for crypto. It is worth noting that individual countries might decide on even more specific or explicit prohibitions on top of this. It is also worth noting that these regulations do not apply to central bank-issued digital currencies. + +&#x200B; + +## How Will Cryptos Be Regulated? + +Before we can understand how FATF proposes to regulate cryptos, we must learn what they mean when they talk about a Virtual Asset: + +“*A virtual asset is a digital representation of value that can be digitally traded, or transferred, and can be used for payment or investment purposes. Virtual assets do not include digital representations of fiat currencies, securities and other financial assets that are already covered elsewhere in the FATF Recommendations.”* (GVA, p98) + +Cryptos will not be outright banned. They will be regulated via an indirect method; those who facilitate virtual asset transactions, are designated as a Virtual Asset Service Provider, or VASP. + +Next, all VASPs will be subjected to similar regulation as banks. The definition of VASP is so wide that most current projects in the crypto space are covered by it. + +&#x200B; + +## Definition of a VASP: + +\*“\****VASP: Virtual asset service provider*** *means any natural or legal person who* \[...\] *as a business conducts one or more of the following activities or operations for or on behalf of another natural or legal person:* + +1. *exchange between virtual assets and fiat currencies;* +2. *exchange between one or more forms of virtual assets;* +3. *transfer of virtual assets (In this context of virtual assets, transfer means to conduct a transaction on behalf of another natural or legal person that moves a virtual asset from one virtual asset address or account to another.);* +4. *safekeeping and/or administration of virtual assets or instruments enabling control over virtual assets; and* +5. *participation in and provision of financial services related to an issuer’s offer and/or sale of a virtual asset.”* (GVA, p18) + +&#x200B; + +## Many Organizations and Individuals Will Be Designated as VASPs: + +A VASP is **any natural or legal person**, and *“the obligations in the FATF Standards stem from the underlying financial services offered without regard to an entity’s operational model, technological tools, ledger design, or any other operating feature.”* (GVA, p21) + +The expansiveness of these definitions represents a conscious choice by the FATF. *“Despite changing terminology and innovative business models developed in this sector, the FATF envisions very few VA arrangements will form and operate without a VASP involved at some stage.”* (GVA, p29) + +For those wondering if they are a VASP, the following general questions can help guide the answer: + +* “*who profits from the use of the service or asset;* +* *who established and can change the rules;* +* *who can make decisions affecting operations;* +* *who generated and drove the creation and launch of a product or service;* +* *who possesses and controls the data on its operations; and* +* *who could shut down the product or service.* + +*Individual situations will vary and this list offers only some examples.”* (GVA, p30) + +&#x200B; + +## What Are VASPs Obliged to Do? + +All VASPs will be forced to implement KYC legislation and monitor transactions. They become fully regulated entities who need to obtain a license. Individuals can also be labeled a VASP. + +The real kicker is that all activities not part of the regulated system are labeled as “high-risk.” And as such, those performing such activities become high-risk persons, which could have repercussions for accessing the wider financial system. + +It is important to understand that most peer-to-peer activities themselves will not be banned (although individual countries may do so on their own accord). + +However, transactions with a “high-risk” background will be tainted and scrutinized. Exchanges risk losing their license if they deal with them, and many will simply choose not to allow them. It might get to a point where proceeds from certain peer-to-peer transactions or private wallets are no longer usable in the financial system, at least not without extensive due diligence. + +&#x200B; + +## New Government Organizations for Overseeing the Crypto Market + +Every country should assign a “competent authority” to monitor the crypto space and communicate with competent authorities in other countries: *“VASPs should be supervised or monitored by a competent authority, not a self-regulatory body (SRB), which should conduct risk-based supervision or monitoring.”* (GVA, p45) + +This can be an existing regulatory body, such as a central bank or a tax authority, or a specialist VASP supervisor. (GVA, p91) + +&#x200B; + +## What Activities Will Be Regulated? + +This chapter highlights crypto activities, currently considered completely normal, and details how they are to be regulated. + +&#x200B; + +**Peer-to-Peer transactions:** transactions without the involvement of a VASP. They are not subjected to regulation, but are a “risk.” That’s why the FATF recommends increased monitoring and restriction of this kind of activity, and possibly reject licensing VASPs that engage in it. + +&#x200B; + +**Stablecoins:** are considered a major risk because they think they are more likely to reach mass adoption. They may be targeted at the level of the central developer or governance body, which will be held accountable for the implementation of these recommendations across their ecosystem. + +&#x200B; + +**Unhosted Wallets:** Commonly used private wallets are called: “unhosted wallets.” As mentioned, the FATF suggests denying licensing VASPs *“if they allow transactions to/from non-obliged entities (i.e., private / unhosted wallets).”* (GVA, p37) VASPS should also *“treat such VA transfers as higher risk transactions that require enhanced scrutiny and limitations.”* (GVA, p60) + +&#x200B; + +**Client Information to Collect by VASPs:** all VASPs should collect information on their clients such as the customer’s name and further identifiers such as physical address, date of birth, and a unique national identifier number (e.g., national identity number or passport number). VASPs should conduct ongoing due diligence on the business relationship and the customer’s financial activities. + +&#x200B; + +**Travel Rule:** FATF recommends applying traditional bank wire transfer requirements on crypto currency transactions; this is called the travel rule. + +It includes the obligation to obtain, hold, and transmit required originator and beneficiary information associated with VA transfers in order to identify and report suspicious transactions, take freezing actions, and prohibit transactions with designated persons and entities. + +Information accompanying all qualifying transfers should always contain: + +* “*the name of the originator;* +* *the originator account number where such an account is used to process the transaction;* +* *the originator’s address, or national identity number, or customer identification number, or date and place of birth;* +* *the name of the beneficiary; and* +* *the beneficiary account number where such an account is used to process the transaction.”* (GVA, p53) + +&#x200B; + +**Instant transfer of ID information tied to transactions:** Obliged entities should submit the required information simultaneously with the batch VA transfer, although the required information need not be recorded on the blockchain or other Distributed Ledged Technology (DLT) platform itself. + +&#x200B; + +**Categorize Clients and Activities According to their level of Risk:** VA and VASP activity will be subject to a “Risk-Based Approach.” In practice, this means that each client and activity is categorized by their risk level. Risk levels are determined based on a variety of factors. Persons or activities considered a risk can see enhanced due diligence and even their ability to use VASPs reduced. + +&#x200B; + +**Ongoing Transaction Monitoring:** Every customer is assigned a risk profile. Based on this profile, customer transactions will be monitored *to det*ermine whether those transactions are consistent with the VASP’s information about the customer and the nature and purpose of the business relationship. + +&#x200B; + +**Transactions tight to Digital IDs:** In the future, VA transactions might need to be subject to digital identity regulations, also being developed by the FATF. + +&#x200B; + +**Freezing of Assets:** Cryptos can be frozen when the holder is suspect of a crime, as part of other investigations, when the VA is related to terrorist financing, and when related to financial sanctions. The freezing of VAs will happen regardless of the property laws of national legal frameworks, and it will not be necessary that a person be convicted of a crime. + +&#x200B; + +**Anonymity-Enhanced Cryptocurrencies (AECs) and Privacy Tools:** The GVA specifically targets tools intended to improve privacy, such as: anonymity-enhanced cryptocurrencies (AECs) such as Monero, mixers and tumblers, decentralized platforms and exchanges, use of the Internet Protocol (IP) anonymizers such as The Onion Router (TOR), the Invisible Internet Project (I2P) and other darknets, which may further obfuscate transactions or activities. + +This includes *“new illicit financing typologies”* \[Author: DeFI?\]*,* and the *increasing use of virtual-to-virtual layering schemes that attempt to further obfuscate transactions in a comparatively easy, cheap, and secure manner”* \[Author: Lighting, Schnorr, Taproot?\]*. (GVA, p6)* + +And if a VASP *“cannot manage and mitigate the risks posed by engaging in such activities, then the VASP should not be permitted to engage in such activities.”* (GVA, p51) + +&#x200B; + +**Obligations to get a License for all VASPs:** The GVA intends to subject all VASPs to a licensing scheme: *“at a minimum, VASPs should be required to be licensed or registered in the jurisdiction(s) where they are created.”* (GVA, p40) + +Moreover, each jurisdiction might require licensing for those servicing clients in their jurisdiction. + +It bears repeating that a natural person can also be designated as being a VASP and be required to obtain a license to work on a crypto project. Moreover, the competent authorities get to determine who can and cannot become a VASP, and monitor the Internet for unlicensed activities by engaging in *“chain analysis, webscraping for advertising and solicitations, feedback from the general public, information from reporting institutions (STRs), non public information such as applications, law enforcement and intelligence reports.” (GVA, p41)* + +&#x200B; + +**Bitcoin ATMs:** “Providers of kiosks—often called “ATMs,” bitcoin teller machines,” “bitcoin ATMs,” or “vending machines”—may also fall into the above definitions. + +&#x200B; + +**Decentralized Exchanges:** According to the GVA, the concept of a decentralized exchange doesn’t exist, since these regulations are technology neutral. As such, those running the exchange can be held liable for implementing these regulations. + +&#x200B; + +**Multisig Contracts:** In case of partial control of keys, like a multisig or any kind of shared transaction, the providers of such services could be subjected to this regulation as well. + +&#x200B; + +**Regulation of Future Developments:** Countries should identify and assess the money laundering and terrorist financing risks relating to the development of new products and business practices. The result might be that the development of new projects need some sort of approval process. + +&#x200B; + +**International Cooperation of Competent Authorities:** And finally, the FATF Recommendations encourages competent authorities to provide the fullest range of international co-operation with other competent authorities. + +&#x200B; + +## What Will Not Be Regulated? + +Some good news is that what makes crypto, crypto, remains unregulated; peer-to-peer transactions themselves, small transactions and ecommerce, open source development, and cold storage will remain lawful. + +Specifically exempt are persons facilitating the technical process, such as miners and nodes (called validators), and those that host, facilitate and develop the network. In addition, small transactions under 1.000 USD/EUR are exempt, although basic identity information will be recorded when done through a VASP. + +&#x200B; + +## What Will Be the Outcome of These Regulations? + +This regulation, like many of its kind, will have (un)intended consequences. The stated goal of increased transparency in the space might very well be achieved, reveling the proceeds of certain crimes. + +However, a secondary goal is clear for those understanding these kinds of open-ended legislation; controlling what can and cannot be done with crypto in the real world by labeling certain activities and undesired persons as “high risk.” + +It will be increasingly difficult to deal with proceeds from the “wrong” activities, especially for people from high-risk countries, engaged in high-risk activities, or just being considered a high-risk person. + +In addition, it will become expensive and technologically challenging to comply with this legislation. Small companies with unique business models might find it impossible to survive. Only the large regulated entities might remain in existence. This is a common result of regulation that is welcomed by regulators; a few large companies are easier to regulate than one thousand small ones. In some cases, the large participants welcome regulations as well, as it reduces competition. The same happened in the banking sector, for example. + +Other downsides are that such regulations smother many otherwise beneficial technological projects in the crib and criminalize perfectly legal activities and the innocent citizen performing them. The loss of privacy will also increase security risks, especially for those living in dangerous countries. + +&#x200B; + +## The Crypto World at a Crossroads: + +It is hard to determine how specific projects and the crypto space in general are going to be affected; especially since this is not the final guidance. Each national government will have a slightly different interpretation of these regulations, as well as existing laws and precedent in their own country. In addition, individual VASPs will interpret these regulations according to the viewpoint of their legal departments, as well. Cryptos will become a regulatory minefield. + +A natural consequence of these regulations is that projects and participants in the crypto space will be divided into two categories: those who do/can meet these regulations, and those who do/cannot. + +&#x200B; + +## Potential Winners + +First will be those that will fully comply with these regulations. In terms of participants, these will be the big exchanges and onramps, banks, and institutional investors. A lot of participants exclusively use exchanges (VASPs) already for their coins anyway, and for them nothing changes. In fact, additional regulations might help institutional adoption, an idea supported by the fact that the Bank of International Settlements issued new guidance for banks on the prudential treatment of crypto assets.\[3\] + +Crypto assets which might succeed in such an environment are projects that have focused on transparency and KYC from the start, or those who are already established too decentralized and operate without any historic VASPs. + +&#x200B; + +## Potential Losers: + +Next, there are the activities that are specifically targeted by this regulation; peer-to-peer transactions, privacy coins, decentralized exchanges, decentralized finance, and other peer-to-peer systems. It appears that such projects have only one option and that is to go fully decentralized. Which could actually make them attractive for some. + +It is worth repeating that in principle, peer-to-peer systems are not against the law. Those participating in them should however accept that part of their assets and proceeds exist outside the regulated financial system, and that by engaging in them they might be labeled a “risk.” + +Finally, there will be projects that fall in between: they are either too centralized to become fully decentralized and considered too “high-risk” to be licensed. Such projects will experience significant headwind. Think about the aforementioned stablecoins, certain decentralized finance applications, certain self-hosted wallets (especially when facilitating exchange functions), and future ICOs. + +Current projects that are still too centralized are a big question mark. Especially those who have leading individuals still in control of “road-maps,” or those relying on “governing councils.” Those persons might suddenly be designated a VASP and forced to monitor the individuals and transactions on their network (a big downside as compared to the projects already decentralized). + +&#x200B; + +## TLDR; + +**Governments at the highest levels (G20) commissioned an organization called FATF to come up with international regulations for cryptos. They are using international law frameworks that supersede national legislation and will force every country in the world to comply.** + +**Their main goal is to keep crypto activity restricted to licensed and regulated service providers. A long list of ordinary crypto activities are now labeled a “risk.” Engaging in them will result in increased scrutiny and possible difficulties accessing the wider financial system.** + +**It remains to be seen how this will affect the crypto world. Over time, it could likely split the crypto space in fully regulated (semi) centralized, and unregulated decentralized projects. The winners will likely be the projects that thrive in either of those; the losers likely those fitting in neither...** + +&#x200B; + +**NOTE**: I uploaded this DD first on /r/bitcoin last week, and was asked to post it here. The recommendations were supposed to be finalized in July, but last Friday it was announced that they will now be finalized and implemented with priority by October 2021. + +&#x200B; + +# Sources: + +**PDF Version**, with exact explanations of how the different activities will be regulated: + +[https://decentralizedlegalsystem.com/wp-content/uploads/2021/06/FATF-Global-Crypto-Regulations-Summary-June-2021-V2.pdf](https://decentralizedlegalsystem.com/wp-content/uploads/2021/06/FATF-Global-Crypto-Regulations-Summary-June-2021-V2.pdf) + +Feel free to forward this PDF to whomever you think should read this information. + +&#x200B; + +\[1\] FATF, *“Draft updated Guidance for a risk-based approach to virtual assets and VASPs,”* (Paris, March 2021), [http://www.fatf-gafi.org/media/fatf/documents/recommendations/March%202021%20-%20VA%20Guidance%20update%20-%20Sixth%20draft%20-%20Public%20consultation.pdf](http://www.fatf-gafi.org/media/fatf/documents/recommendations/March%202021%20-%20VA%20Guidance%20update%20-%20Sixth%20draft%20-%20Public%20consultation.pdf) + +\[2\] UN, *“United Nations Conference on Diplomatic Intercourse and Immunities,”* (Vienna, 2 March - 14 April 1961), accessed on June 10, 2021, [https://legal.un.org/ilc/texts/instruments/english/conventions/9\_1\_1961.pdf](https://legal.un.org/ilc/texts/instruments/english/conventions/9_1_1961.pdf) + +\[3\] BIS, *“Consultative Document - Prudential treatment of cryptoasset exposures,”* (Basel Committee on Banking Supervision, Basel, June 2021), [https://www.bis.org/bcbs/publ/d519.pdf](https://www.bis.org/bcbs/publ/d519.pdf) + +&#x200B; + +Last Friday FATF announced the recommendations will be finalized by October 2021: [https://www.fatf-gafi.org/publications/fatfgeneral/documents/outcomes-fatf-plenary-june-2021.html](https://www.fatf-gafi.org/publications/fatfgeneral/documents/outcomes-fatf-plenary-june-2021.html) +**Note:** None of this is financial advice. Just sharing of news that is freely available for anyone to verify, along with some of my own opinions on those matters (and nothing more than that). + + +Ladyapes and Gentleapes, I know you are all waiting patiently for the market to open tomorrow. So while we stare longingly out of windows, I thought it is a good time to take stock and review what has happened so far this month, and what may be to come in the next couple of weeks. So here is a run-down of key events, along with a healthy serving of speculation on my part. + + +**Sep 1st:** BCBS-IOSCO’s Uncleared Margin Rules (UMR) Phase 5 in effect. SHFs must post significantly higher initial margin for trading OTC Derivatives (e.g. Options, Swaps and Futures). Forecast by the DTCC lead to an “upsurge in the volume of margin calls”. + +Speculation: *This will affect some of the mid-sized SHFs more than larger ones, in my opinion. This is based on a couple of replies I got from those working in the Buy Side industry and having a deep knowledge of UMR, after I posted about it last month. Some of the (relatively) smaller SHFs that have shorted GME may fail to post the increased margin requirements for making derivatives contracts. These could include derivatives such as Total Equity Return Swaps, which have been speculated to be the main method by which the SHFs have been using to kick the covering of short can down the road. Perhaps a number of these affected SHFs will be desperate to “roll over” existing Swaps contracts to keep on kicking that can, but may simply not have the collateral necessary under the new UMR regulations. As a consequence, we may see some of these firms failing Margin Calls, as we progress through the month.* + + +**Sep 1st:** Federal eviction moratorium due to the pandemic ended. From now, 11 million households are under threat of immediate eviction and homelessness. + +Speculation: *This is a macroeconomic issue that may have an impact on the unemployment rate, housing market, and general health of the economy. The stock market has not been particularly connected to how the economy and society has been fairing in the last 18 months…but the two always catch up to each other at some point. If millions are left destitute as a result of this moratorium ending, it could lead to bearish sentiment and a market crash. With GME’s Negative Beta status compared to the rest of the market, this could well lead to it mooning while everything else crashes.* + + +**Sep 3rd:** NSCC’s SR-2021-005 in effect. Requires each member - including SHFs that may have dozens, or even hundreds of shell companies - to post 25x in deposits to the NSCC than before. + +Speculation: *There are about 4000 financial institutions that are members of the DTCC and are required to post deposits to continue to “stay on the dance floor”. The new deposit of $250,000 will not be a major issue for the likes of Shitadel, in my opinion, even with their numerous shell companies. But it could become a serious issue for small hedge funds and family offices, some of whom may be short on GME. It only needs a few of these to fall foul of this regulation, be Margin Called, and from there start a domino effect as their positions are forced closed. Note that some may have failed Margin Calls already last Friday, although again we will only know as the month progresses.* + +EDIT - further speculation from u/East_Fee4006: *The way I read -005 is that it is not per institution but rather per trading account. Hence the reason Shitadel raised such a huge objection in Apr.* + + +**Sep 6th:** Approximately 11 million Americans will lose weekly federal pandemic unemployment benefits. For the majority, this is their sole income source. + +Speculation: *See above about the Federal eviction moratorium ending. The same macroeconomic effects apply here, and GME’s Negative Beta status once again means a market crash could result concurrently in the MOASS (just don’t dance, though…)* + + +**Sep 8th:** GME’s quarterly earnings report is announced. Having secured its financial position, and with continued growth forecast for the foreseeable future, this includes the potential for announcing a quarterly dividend (as had been consistently the case up to 2019). Such a dividend could take the shape of a digital format - such as issuance of an NFT - which may mean SHFs having no option but to cover their short positions. + +Speculation: *The situation seems perfectly set up for GME to make some kind of “BIG” announcement on Wednesday. What this will be remains to be seen, but with a healthy cash surplus, the company does have the funds necessary to issue a dividend. However the real fun would be if, instead of a cash dividend which short sellers could pay out, it is in digitalised. There has been speculation on this sub for months now that GME is developing something using NFTs, and it may well be that this is nothing to do with dividends. However, equally, the Overstock saga showed us that it is a sure fire way to successfully get short sellers off a company’s back. That episode has resulted in multiple legal battles, some of which are still ongoing, so Ryan Cohen may feel it is not worth the fight. However he bought into and became Chairman of GME with a purpose, and the company can really only flourish once SHFs are ripped from its back. The CEO Matt Furlong announcing a dividend in the form of an NFT would go a long way towards achieving just that, in a very short space of time…* + + +**Sep 9th:** Final day for “rolling over” of Equity Index Futures contracts. The theory is that the counter parties of SHFs who have shorted GME using Equity Total Return Swaps, would have bought Futures contracts as a hedge against the share price rapidly increasing. These Futures contracts expire every three months and must be either closed (by buying the underlying stock) or “rolled over” by partially closing out the contract. Up until this final rolling over date, the counter parties must buy the underlying stock in order to go Delta Neutral, increasing the share price. + +Speculation: *During the period from when these Futures contracts settled to the final rolling over date - running from August 26th to September 9th - the counter parties have no option but to buy the underlying shares. As with the March and June run-ups the price inevitably spikes, this time potentially packed into an action packed three days from after the Labor Day weekend, as they seemingly did not carry out this action last week. The result could be some big run-ups in the price on Tuesday 7th, Wednesday 8th and Thursday 9th…just before Matt Furlong announces earnings as a potential knockout blow.* + + +**Sep 14th:** US Bureau of Labor Statistics releases Consumer Price Index report for August. Annualised inflation rate up to July was +5.4%, and the current forecast is for August to be slightly below this. + +Speculation: *There could of course be a surprise and the annualised rate remains at or higher than forecast. Even if it is a little under July’s +5.4%, recent months have consistently been above 4%, and an announcement of this continuing could lead to an immediate impact on stock prices. Generally speaking, high inflation means high borrowing costs and lower forecasted earnings for companies. Continuous high inflation figures, particularly surprise figures, has therefore often led to high volume sell-offs of stocks i.e. market crash. Once again, such a macroeconomic impact could lead to the Negative Beta GME rocket launching, with the rest of the market in flames below it.* + + +**Sep 17th:** Quadruple Witching Day and expiration date of the above mentioned Equity Index Futures contracts. QWDs generally sees high volumes of trading, thus high volatility for stocks with large Options interest. + +Speculation: *The previous Quadruple Witching Days promised much, but failed to deliver(!) I believe this was because the SHFs suppressed the price of GME massively back in March and June, when these were hugely hyped up by Apes. However, such price suppression by the SHFs is seemingly not having as much of an effect now as before - they are barely able to hold the share price down these days. So will the SHFs have enough left in the tank by this date to counteract the effects of QWD? If not, then this QWD may well see high volatility and high trading volume, and actually have an effect on the share price. Third time lucky, perhaps, for the QWD hyping…?* + + +So there you have it - some of the key events we have coming up until mid-Septembrrr. Have I missed anything or got any of this wrong? Feel free to dissect and correct me if there are any errors. If there are some other key events happening in the next couple of weeks that you are aware, please share that information. + +Of course, take the speculation parts with a grain of salt, given these are just the insane ramblings of a financially illiterate lower primate. But sometimes the crazies can see things extra clearly…and this particular mad Ape is **titted to the jacks** at the prospects for tomorrow and beyond! *Hedgies r fuk.* + I looked at all of the yearly historical returns of the S&P (including adjustments for inflation/deflation) and what I found surprised me and was in conflict with a lot of the standard talking points on this sub. These are a few takeaways: + +· Using the 4% rule with 100% stocks is WAY riskier than I realized. There are multiple starting years where using that allocation would fail outright. + +· Even more troubling to me is that many more sequences would not fail, but would reduce your nest egg to a level that would be uncomfortable for a LONG time. Would you feel confident living for a decade or more off just 7 times your expenses? The most concerning were periods starting around the late 60’s/early 70’s. + +· Flexible spending isn’t enough. I always assumed that because my personal number was relatively fat, that I would be able to reduce my spending in lean years to my leanest number and be ok. Unfortunately, even if cutting your budget to survive a lean year works to keep you solvent, you may have to live at that reduced number indefinitely, something I would not be prepared to do. + +· Although the average return of the market after inflation (which I calculated to be roughly 9% from 1926 on), the average POSITIVE return in a positive year was closer to 20%, while the average NEGATIVE return in a negative year was -14%. + +My original thought for fixing this was that perhaps by taking a lump amount (say 3 years of expenses) and leaving it as cash you could largely avoid the sequence of return risks. I ran calcs using that breakdown and the results weren’t much better. By leaving cash on the sideline in the present, you’re reducing the gains that will fuel future years. + +I’ve come to the realization that a SWR of 3.25% or even better 3% is the best way to address the sequence of return risk that threatens to derail a long retirement. The beauty of using 3% is that based on the historical data I looked at, it has *never* failed. Obviously “historical performance is no guarantee of future results”, but it sure makes me feel more secure that I won’t be facing a failed retirement or more meager lifestyle than I had planned. + +The best part is that if you hit the 4% SWR number and get lucky enough to have two years of average positive returns (19.9%), it would take less than 2 extra years to go from 25x spending to 33.3x spending, even without additional contributions. Worst case, the market tanks during that time and you’re able to preserve all of your capital until it swings back positive, avoiding the sequence of return risk. Not everyone here will feel this way, but I would much rather delay my retirement by 2-3 years than live on financial eggshells for the rest of my life. + +TLDR Use a 3% portfolio +What’s up Everyone? + +I’m brand new to investing and only have a 401k at the moment. I opened a Roth through Schwab and was looking for help in picking ETF’s for the long term (time horizon over 30 years). + +Not sure how much I’ll throw in right away but won’t be over a few grand. I really appreciate the help and looking forward to learning more. + +Cheers! +I’ve recently obtained a large (for me) bit of capital and am planning on indexing it. My initial thought was just going 100% VOO. I’m very long-term minded, believe in the US economy over the next 30 years, and am confident I can weather significant downturns and stay the course. + +With that said, I have some appetite for a bit more risk, so I’ve also been considering adding VBR to the mix, for a bit more exposure to some upside (historically). Could, of course, just do VTI, but I’d like to cut out the mid caps (and also the small caps burning cash for “growth”). + +If I do this, I’d likely allocate 75% to VOO and 25% to VBR. Any takes / experience on this allocation? +I cashed out of my mutual fund after it recovered from the 2020 crash and been pouring money into my brokerage account. I hate not investing so recently, I went with these ETFs + +25 percent in XYLD, 25 percent in JEPI. The other 10 percent in MGK, IWY, IYW, VOO, and O. + +I was thinking about adding SPHD and VTV maybe and adding more into VOO and O. I know MGK and IWY are basically the same but I like the idea of having them both. + +So far it went up initially now everything portfolio wise is down 5 percent. Everything in red. + +What do you think of these choices? I believe they will recover but worried about Monday. +Planning to initiate the etf journey with 10k and was planning on going all in on one but the more I've read and feedback I've gotten in this group I should look into more. So I've got 3 in mind, would 10k split between 3 etfs be below the starting average? Had annual contributions in mind also to each. +I am new to investing. So if this sounds stupid, please tell me. I want to buy 20k of jepi, but I want my entire portfolio to be 50% Voo and 50% Schd. I will contribute 200$ weekly into these two and use all the dividends from jepi to add to voo and schd. Is that a stupid ? Taxable account and I max out Roth IRA annually +I’m looking to add some ETFs to my portfolio in order to gain wider exposure to markets I don’t fully understand/have not fully researched yet and to provide some added diversification. + +Who are the best ETF managers? Who have the less expensive expense ratios? Best returns? Etc. + +***thanks everyone for all the responses. Great advice throughout!! +I am new to investing, and just started in Jan 2021. I put half of all my savings in the world into SCHG because I thought this was "safe", and only bought a little in stocks (which I was okay with losing). I bought the SCHG at like $135 a share, and have just been watching it plummet the past few days and been feeling sick to my stomach. + +I know ETFs are a long-term investment, but I can't help but feel I bought at an all-time high because I keep reading that "tech is overvalued" (I'm not even sure what this means), and that $135 was the ATH and that's just it and it will only continue to go down from here on. I also have a lot in the ARKs, been watching those plummet too. + +I'm not sure what is normal and what isn't, how long market corrections last, etc. Just feeling very down the past few days, especially today. + +Edit: Thank you all so much for the helpful replies, they made me feel a lot better! Today will be the first day (including even on weekends) since I started investing that I do \*not\* check my portfolio! Thank you all so much :) +I'm brand new to the stock market game and I am looking to put around $150 a week in. I have $1000 to start and am looking for advice on what to start with. Any help would be appreciated. + +I am 33 and am mainly looking to have it for retirement. +Hi! So i just invested my first $100 into VOO. I just have a follow up question. So VOO obviously includes many blue chip stocks such as home depot, apple, microsoft, etc. Is it sensible for me to still invest in stocks like home depot and microsoft separately? Sorry it’s probably a dumb question lol but i’m just trying to make sense of it. Thanks in advance! +In general, do y’all set stops? I generally haven’t over the years, as I hold and don’t look during major downturns (start of COVID) and just buy more with any money I can save. + +Had I used a loose stop in March 2020, I could have potentially captured significantly more gains, with a low likelihood of choking the trade. + +I’m wondering if this is a common practice, or if it is simply poor discipline on long term holdings. +I'm Mid-level in my career (non-engineer) but in tech. Currently work at a large, old school tech company. + +Currently mid-interviews for several companies. My options seem to be mid-level positions at a unicorn ($170-200k+pre IPO stock) at either a high-growth unicorn or junior/mid-level at FAANG (TC $300k). It's clear of those two, FAANG wins in the short-term. However, since I'm still young, I'm trying to play the long game. At a Unicorn, I can move up quickly, get to a director level in the next 2-3 years, manage a team. Then could either stay (depending on TC), move to another Unicorn in a much more senior role, or potentially move to FAANG at a much higher level. I know climbing up the career ladder at FAANG is pretty slow if you start low, so I'm thinking that waiting until I have more experience and then can get in at a more senior level is a better long-term investment. + +I am not necessarily considering a Unicorn because of the IPO opportunity (though of course it would be a nice bonus), as i know this is a risk, I'm more intrigued by the opportunity to move up quickly with a fairly decent base salary (that i couldn't get at earlier stage startups). Any advice? +if you want the most out of your tax return (not running a business), is it worth consulting an accountant vs TaxTime Toolkit & manually submitting via myGov? + +is it worth the odd $200+ spend on an accountant? +I have noticed that thanks to Robert kiyosakis book “rich dad poor dad” that many folks in business and real estate community equate having a W-2 salary job or the “rat race” with socialism. I have seen countless real estate educators, podcasters, and online influencers describe working for a salary as a socialist thing. I enjoyed rich dad poor dad for other reasons but this ignorant re-education he is attempting is too far and very annoying. + +Finally after years I just wanted to vent and hope even a few of you could benefit from setting this straight if your willing to listen to a paragraph or 2 here. What kiyosaki describes as socialism is being on the exploited side of a capitalist relationship. It does not matter if it’s a private company or the government if you work for a wage in exchange for hours of time spent and do not own the value or assets you are involved with creating it is a capitalistic relationship. This is the definition from a socialistic perspective, and to be fair this is who should be setting the definitions here not the people intentionally misrepresenting it to defame the ideas. If you do not own a stake in your own created value you are engaging in capitalism still … if you are just paid per hour and have an owner/bosses it’s capitalism but you are on the other side of it as a worker and not capitalist. one with a corporation is private capitalism and the other in government is state owned capitalism. The relationship is what counts not who is doing it(this makes famous examples like USSR, china state owned capitalism) + +A Socialist business is cooperative and the people doing the work own the business together or if they do all they work themselves then there is no issue with them owning and reaping the rewards themselves as a small business in a socialistic society. I have heard people call the “rat race”or working for others paid by the hour as stupid and socialistic. It might be smarter to be on the winning side that ends up owning everything and not being tied to your per hour wage to survive but paying others as expendable services is very much a part of capitalism to have wage workers and owners be separate. A Market Socialist is one that advocates for markets and businesses but that if any enterprise gets to a certain size it should be democratically owned and a mutually beneficial partnership amongst all parties. Thus socialism is the end of the rat race not the rat race… kiyosaki in his books and lectures mistakes socialism for “capitalism on the exploited side”(thus adding to the arrogance and irony to him berating and belittling the people that he needs to keep living in society wealthy while others do the work to keep society running for his convenience) + +PS- I am a real estate developer and investor with 15 doors working on a another 10 unit development now. I understand that what I do is exploitive! I don’t pretend and look for euphemisms to make myself feel better. We should not feel ashamed to admit the truth. In our current economic system rental housing is needed and since the government won’t do it we might as well be on the winning side and do what we can to make it not suck so bad. +I recently started researching into Bahamian RE, in particular multiplexes. Here’s what I found so far, and it looks way too good to be true, but also some odd things I noticed. All in all still good. Maybe I’m missing the catch, or it’s an untapped market? + +-Multiplexes for sale seem to be always occupied, listings often state they’re fully rented out including rent amounts. 1:100 rules etc. nearly always apply, getting off market deals most likely will yield even better buying opportunities +-There’s barely any listings for condos to rent, if there’s some they disappear very fast +-There's a ton of listings for multiplexes to buy +-Multiplexes stay on market for an average of 307 days +-There's very spare information to find, there’s no statistics on occupation rates, rent price developments or re price developments +-Historically Nassau has been spared from hurricanes that hit the island group, however climate change might increase the risk +-Nassau population is growing faster than the US population +-Laws are heavily in favor of landlords, police will evict non paying tenants on your behalf without court order + +While there’s some negatives I don’t see how the upsides aren’t outweighing heavily. But the market seems to think differently. Is this market just too small to be attractive to investors? +Would love to hear some opinions or start a discussion +I never understood why I couldn't save money, and I always seemed to be in credit card debt. + +&#x200B; + +Now I know! I've been spending WAY too much money eating out and buying clothes. Last year, I lived in the house alone for 6 months, while my parents went on an extended vacation. When they came back, they were surprised that most of the food in the freezer was still there! I was too lazy to cook, and decided to go out for pho or pizza instead. This really adds up when you're doing it 3 or 4 times a week. + +&#x200B; + +This year, I have made a point of eating everything in the freezer before I even go grocery shopping. And there is a time and place for grocery shopping. I can't be making mini-trips to the market everytime I want to cook a new recipe. This was really adding up. + +&#x200B; + +Also, I have now learned to preserve things I like. When I got back from my vacation in the Philippines, I threw out my year old vans shoes, even though I could have just washed them and made them new again. And you guessed it, I went out and spent $80 on new ones. + +&#x200B; + +Just this week, the zipper on my jeans broke. The me of one year ago would have used this as an excuse to go out and buy new jeans. But not today! I took them to a tailor and she said she can replace the zipper for $20. I'm also thinking of taking my favourite sweatshirt to her to see if she can sew up the hole in it. Not everything is an excuse to go out and shop. If you do this, you'll be poor forever. +I got married a little over a year ago and we have been consolidating our accounts recently. I stopped into a local branch of my wife's bank to change my address and switch over my direct deposit. The bank employee was helpful, but he kept trying to get me to sign up for a credit card the entire time. I declined multiple times, and at the end I told him that I wouldn't make this type of decision without my wife anyway, but I would ask her that night and if we decided to enrol, I would call him back. + +We both agreed that we did not need a fourth credit card, so I didn't call back. He called me a time or two over the weekend and I missed the calls but he left voicemails encouraging me to sign up for the credit card and also said he was looking at my file and noticed that the bank owns our mortgage and that I should consider taking out a HELOC as well. This just kind of rubbed me the wrong way, he was too pushy, so I just never called him back. + +Fast forward a few days and I get a notification that my phone number had been changed in the bank's system. I called to find out why, but nobody was able to offer an explanation. It was weird because it was changed from my cell number to my parents' phone number (I haven't lived with my parents since 2005). I have no idea how this happened, neither of them are with the bank and being a new customer I have no idea how they would have ever even known about that phone number. In the end I just changed it back and let it go after getting nowhere with customer service. + +Two weeks later, I get an email saying welcome to our credit program and I sign onto my online banking to see a new credit card section! This dude has signed me up without my permission. I was furious. I call the bank manager and he confirmed the same employee did it. He also confirmed that the employee had used my parents' phone number on the application (which is creepy because I don't even know how he got that number to begin with). + +What are my options here? I think this guy thought he could just take advantage of me and get a nice commission because I'm a younger guy, but I'm furious and feel violated. + +I also haven't received the card yet and if this dude imputed the wrong phone number, how do I know he didn't send the card to the wrong address? How do I know he didn't take this a step further and apply for that HELOC he was trying to sell me or something? I know that isn't likely, but who knows? + +Any advice? + +TLDR; Bank employee signs me up for a credit card without my permission. + +EDIT: Okay, the card came in the mail. So at least there's that. + +EDIT2: Wow I did not expect this kind of response. Thanks everyone so much for all the advice. I just heard back from the district manager and corporate and HR are now involved. They said they are doing an investigation and will be having a sit down with the employee about this issue on Monday. They also will be providing a letter in order to get the account closed and have the inquiry removed from my credit. I will update as this progresses. +I have a feeling we will see $20 around 10pm PST tonight. Anyone else have thoughts? Also, after we break the $20 mark, I have a feeling we will quickly see $25. Best of luck everyone! +Just a thought I had recently. +If I am a long term investor, dividends that are paid out to me will lose 30% of their value in income tax. +Isn't it better that these dividends are never paid out, remain with the company/stock and add reflect indirectly in the form of growth in stock price or ETF/Index fund NAV? When you sell these units eventually you will have to pay LTCG whose value is much lower than income tax. +The corollary is that for a young, long term investor with years on the horizon, it is better to buy ETF/Index funds with low TER or non-dividend paying stocks. +Would you say this calculation is correct? +The day after the result came, the stock went down by 2-3% . + +I know that 75% of EBITA is through the refining business and it is main cash cow of RIL other ventures, but looking down the next 5 years, at the time when our economy is growing and the disposable income is rising, can other verticals, take a formidable stand in overall RIL group, or am I being too optimistic here? + +I know the debt is also rising, but at the same time, as news sources, say Motabhai is also looking to sell stakes, via Armaco and Softbank. Plus, I read somewhere that RIL has a good rating when it comes to financing than the Indian government. + +Also, should I stay away from the share because there is a bit of fear of Modi Government not scoring a full majority, considering Business will continue to happen, no matter which government? + +Thanks. +Classifying cash into bigger or smaller chunk is subject to each one's needs but following is an observation from my personal experience. + +I usually transfer money in USDs held in Fidelity (A US based financial services company) account to my Indian bank account. This amount is from the earnings from my company stock plan maintained by fidelity. The transfer happens using a bank specific code called SWIFT code. +Have noticed that the credited amount is always $10 to $20 less. For ex. If $1000 is transferred from fidelity, Indian bank statement would show it as "inward remittance of $980". Note that wire-transfer and currency conversion charges are deducted separately and are shown in transaction statement. + +When contacted, Fidelity says they transferred $1000. Local bank says they received $980, so then I don't know whom to ask and where to check. The deducted amount is not shown in any statement, it just vanishes in thin air! If someone on this sub knows where it goes, please educate me. + +However, the point I am trying to make is that transferring funds in this way comes with a fixed cost regardless of amount transferred. So, it is better to transfer in bigger chunks than smaller. +Edit: Grammar. +Edit2: Just to make it clear, I'm a resident Indian. I live and work from India. I don't have American SSN. +And the debacle continue. Market cap is down to roughly $56 billion. Guardian even has a [live blog](http://www.theguardian.com/business/live/2015/sep/22/alexis-tsipras-forms-greek-cabinet-vw-emissions-business-live) on Volkswagen. + +Interestingly, Transport&Environment notes that 'Volkswagen is by no means the only one' to manipulate the results, as it tested 23 cars from various brands and noted that only 3 cars passed the test. +I’d like to hear what all the investors out there would do with this small amount to make it grow as efficiently as possible. My mind goes to stocks but with how the market is right now, maybe that’s not best option? + +Long term i would think to have it grow into an amount enough for a down payment on a property and then rent the property out for an income. But how would you get it to enough? + +Another idea I have is maybe to invest it into some sort entrepreneurial endeavour? Either yourself or someone else? +Edit: proof https://m.imgur.com/gallery/kAcjbr9 + +Firstly, if you're one of the people that's here trying to pay others to promote your stock, I'm simply not interested. Pump and dumps rely on people's ignorance, and I try to make my followers smarter about trading. Look wtf happened to salm10 when he couldn't pump a stock properly. + +Today I was offered $80 to post about a stock 8 times within two weeks. On Saturday I was offered $100 to post about a stock ten times. And it got me thinking, what would be my buy price? Honestly, no matter the amount of money, even for $8,000 or $80,000, I would feel like a retarded piece of shit trying to pump a shitty company that I don't actually think is a good trade to take lol. And since I stream my analyses live, you would probably be able to tell that I'm full of shit. I enjoy streaming and interacting with you guys and looking at penny stocks that you request with an unbiased opinion. I also enjoy not creating enemies by pumping a stock and creating bag holders that lose 34% of their account + +The money I've been offered is less money than I make in a day from actual trading lol. It's also less money than you guys have donated to me on twitch in one week. + +So don't worry. I'm on your side and I will always be as transparent as you guys need. Makes you wonder though, who here in this subreddit is getting paid to post 'DD' ?? +I am a 21 year old female and I’ve been living on my own for about three years now. 2 years with my significant other and now one year on my own, with just my own income. My parents are dead and no one ever taught me how to save or budget. + +I have no savings, no emergency fund, and have 2k in credit card debt, 2k in collections (from a semester of college), and about 5k in medical debt that has not been reported to collections yet. Thankfully I do own a reliable vehicle (my dad left it to me), so no car payment. + +I work full time at an entry level job. I bring home around 2k a month, sometimes a little more, sometimes a little less. Currently my fixed monthly bills are: +Rent: $650 +Auto insurance: $200 +Credit Cards: $100 (min payments) +Dog Food/Care: $100-$200 +Utilities: $60-$90 +Cell phone: $60 +Internet: $70 +Gas: $120 +Medical Payments: $60 +Gym: $22 + + +My more flexible expenses look like this usually: +Groceries/Household items: $300 +Eating out: $100-$200 +Alcohol: $60-$90 + +These numbers are not extremely accurate because I’ve honestly just been winging it. I get paid and pay all my bills on payday. Then I buy groceries and just waste whatever money I have remaining from that paycheck and do the same thing when the next payday rolls around. I’m starting to realize that I’m quickly headed to financial disaster, if I’m not already there yet. + +There are things I definitely need to cut out like alcohol and eating out, and try to cut down on the grocery bill. Some will say that I need to get rid of the dog too and from a financial standpoint that’s probably right. But I’d rather try to chip away at other expenses before that. + +What are things I can do and tools I can use to get my finances in order and start a decent savings? I’m clueless +Bit of a rant, but genuinely curious why BPAY is so painfully slow in todays age and why no one is doing anything about it. + +Made a payment on the evening of 23rd and it still hasn’t landed at its destination. Seems crazy it’s not instant or at the most overnight. + +‘Business days’ and ‘Bank Holidays’ seem like such a cop out in todays always on 24/7 age. + +It’s not like the offices are unstaffed, the mainframes are shut down to replace the vacuum tubes and the operators individually Morse coding the transactions over the telegraph wires are at church. This is the technology the banks make it out to be, newer than horse & cart but still a step behind dial up. + +Can this not be almost fully automated for the bulk of the transactions? +Vanguard said it would offer commission-free online transactions for nearly 1,800 ETFs, up from the current 77. + +No other major brokerage does this (except Robinhood, M1Finance) + +Details here: + +[https://investornews.vanguard/coming-in-august-the-largest-commission-free-etf-lineup-offered-to-investors/](https://investornews.vanguard/coming-in-august-the-largest-commission-free-etf-lineup-offered-to-investors/) + +[https://www.prnewswire.com/news-releases/vanguard-to-further-drive-down-the-cost-of-investing-by-broadening-commission-free-etf-trades-300675259.html](https://www.prnewswire.com/news-releases/vanguard-to-further-drive-down-the-cost-of-investing-by-broadening-commission-free-etf-trades-300675259.html) + +[https://www.cnbc.com/2018/07/02/vanguard-slashing-costs-on-nearly-all-etfs-even-rival-schwab.html](https://www.cnbc.com/2018/07/02/vanguard-slashing-costs-on-nearly-all-etfs-even-rival-schwab.html) + +**Competitors** + +* Fidelity offers 93 commission free ETFs: + * [https://www.fidelity.com/trading/commissions-margin-rates](https://www.fidelity.com/trading/commissions-margin-rates) +* Schwab offers 200+ commission free ETFs: + * [https://www.schwab.com/public/schwab/investing/accounts\_products/investment/etfs/schwab\_etf\_onesource](https://www.schwab.com/public/schwab/investing/accounts_products/investment/etfs/schwab_etf_onesource) +* TDAmeritrade offers 300+ commission free ETFs: + * [https://research.tdameritrade.com/grid/public/etfs/commissionfree/commissionfree.asp](https://research.tdameritrade.com/grid/public/etfs/commissionfree/commissionfree.asp) +* Etrade offers 250+ commission free ETFs: + * [https://us.etrade.com/what-we-offer/investment-choices/etfs](https://us.etrade.com/what-we-offer/investment-choices/etfs) + +**NOTE**: *This news is good for short term traders or intermediate/advanced investors. For buy/hold and new investors this doesn't make much difference if they are investing in traditional low expense mutual funds or already free low expense ETFs.* + +**For an excellent explanation see /**u/ChekovsWorm [**comment below**](https://www.reddit.com/r/personalfinance/comments/8vl485/vanguard_starting_commission_free_etf_trading_for/e1p7560)**.** + +Edit1: to add M1Finance, vanguard website link + +Edit 2:to add the **NOTE** based on [u/dequeued](https://www.reddit.com/user/dequeued/) recommendation. See detailed discussion below. + +Edit 3:to add information about commission free ETFs of other brokerages. + +Edit 4: Added link to ELI5 post. +① Goldman Sachs: An increase in labor force participation and a decline in labor demand may be necessary to restore labor market balance and bring inflation back to the Fed’s 2% target; + +②Allianz: The inflation rate may further rise to 9%, the economy is currently in a period of stagflation, and the Fed is "lagging behind" on inflation, and it is expected to raise interest rates by 50 basis points this week; + +③Barclays: The CPI report shows that the prices of all sub-items are very strong, and even accelerated. Energy prices change expectations, and the Fed has good reason to unexpectedly raise interest rates sharply in June; + +④ Citibank: Continued strong inflation data may suggest that the Fed needs to raise interest rates more clearly by 50 basis points or more, until actual inflation slows down convincingly; + +⑤ Capital Economics: The CPI report shows little sign that inflationary pressures are easing, and the Fed may extend the rate hike cycle until the fall, or even raise rates by 75 basis points at the June meeting; + +⑥ Institutional surveys show that most economists believe that with price pressures rising to 40-year highs, there is still a long way to go from what Powell calls "clear" evidence of a decline in inflation. + +&#x200B; + +On Friday, the Dow fell 880 points or 2.73%, while the S&P 500 and Nasdaq fell 2.91% and 3.52%, respectively. The Dow lost 4.58% last week, while the benchmark and Nasdaq fell 5.05% and 5.6% respectively, their worst weekly performance since January this year. + +&#x200B; + +This Thursday: 2:00 pm Fed FOMC announces interest rate decision, policy statement and economic expectations; 02:30 Fed Chairman Powell holds a monetary policy press conference. + +Let's see how it turns out. But I still want to remind everyone, please fasten your seat belts, the downhill of the roller coaster may come. +I get tired of this. I live with my gf. We have a dual income household. Both of us make decent money but nothing major. We have been priced out of the housing market. We do not have the means right now to bring a kid into this world. Just the birth itself at the hospitals comes with insane costs. We are saving for our future right now and to enjoy life ourselves to travel and experience new things. A kid would completely drain those savings and completely cut off the social life we have. + +This is not selfish. Quit telling us such. Her sister says she wants us to have kid(s) so she can spoil them. Parents want us to have kids so they can have grandkids. That thinking is selfish. You want people who are not ready for kids to have kids for your own enjoyment. And no, I don't care if I am one of the last male grandkids in my family and our surname might die with me. Who cares. + +There is a reason why the younger generations are having kids at a much lower rate than older generations. Have you checked the rent prices/cost of living in general vs salary. + +Not to mention all the added stress and time consumption a kid brings. +So I'm sure we're all pretty sick of hearing/reading about this by now, but I felt like there was still a lot of discussion going around the "true meaning" of the post so I'm gonna lay my thoughts down on it and we can call it good. + + +It's really great to see all of these interpretations of my post. Seeing what each person gets out of it is super cool and kinda fun to see what part of the post they resonate with vs what they do not. I'll go ahead and give my clarification for what I meant, but feel free to continue seeing it as you do! + +1. For context, this came about after a break up where I realized my life had been stagnant and unchanged for multiple years. I was 21 when I started to work, and 26 when I wrote that post. In that time my life was very much the same. I lived in the same crappy cheap apartment, I worked at the same company (diff position for higher money, but still same place and city), I ate at the same restaurants ordering the same things, and I simply didn't have any life changing experiences in that time. I was still afraid of the ocean/sharks, I still had negative feelings towards bars and going out, I constantly scrutinized costs for everything, and more. This final point was a big piece of it for me, because I felt like I simply had stopped learning/growing outside of learning new skills for my job. The only thing that changed in my life was the size of my nest egg, which I used to obsess over but eventually I realized that more money wasn't generating anymore happiness, and my side hustle starting/growing (Twitch streaming). +2. At that point I realized how miserable I had become. I thought I was doing things right. Saving 75% of my income, starting a side hustle, having my gf, working out, etc. But I wasn't happy. I wasn't growing, I wasn't changing, I was simply sacrificing my time for money for the sake of retiring without knowing what the heck I was going to retire to. I had a very simple picture in my life of like "well I'll do what I want" but I hadn't even tried a lot of the stuff I was considering. And around that point I decided it was time to change sooner rather than later, because life is too short to willingly be miserable right now. +3. So I sat down and wrote the email that I talked about in my updated post. I sought out others to help push me to grow and change myself for the better. I gave myself a happiness budget and accepted that I might work a little bit longer (it's shorter than you think it would be) in order to be happy now and to find what I want in the future. Maybe I realize I don't want any luxuries, maybe I find something that is a bit expensive but is WORTH working an extra month or two in my life for, I didn't know but it was worth checking out. Over the course of the next year I did everything I possibly could and faced as many fears as I could as well. And it grew me up. It grew me to realize how beautiful life is and that there are some things that I want to work for and that gave me a bit more purpose. Scuba diving cost me $2000 for a week long trip + $400 in gear. This was the most expensive of the activities but it was worth it to me because it started the chain of conquering my fears. Being 100ft down in this beautiful alien underworld staring a shark in the face reminded me of this quote: + +> I would rather be ashes than dust! +I would rather that my spark should burn out + in a brilliant blaze than it should be stifled by dry-rot. +I would rather be a superb meteor, every atom + of me in magnificent glow, than a sleepy and permanent planet. +The function of man is to live, not to exist. +I shall not waste my days trying to prolong them. +I shall use my time. -Jack London's "Credo" + +4. I would rather be ashes than dust. It was the perfect summation for the last 5 years of my life. I was sitting there as dust gathering on my boring stable life. And as that moment passed I realized I would rather have gone SCUBA diving and had something gone wrong than been afraid of diving and living in fear of it my whole life. After that trip was over, I found myself not caring to add diving in as a yearly expense or anything as the price tag was a bit high for my enjoyment level, but I am 100% happy I took the plunge and did it once because of the life lesson and value gained from it there. This is something that I think a lot of people in this sub don't appreciate enough, the value of happiness and life lessons that may be gained from spending money in certain situations. +5. After SCUBA was my ski trip which I have talked at lengths about but I'll mention again. I didn't want to go. I thought, "I don't like the cold, it seems kinda boring, expensive, and tedious, and I could probably have just as much fun playing a video game or reading a book or something." I actually told my friend I wasn't planning on going until she said something along the lines of, "Isn't the whole point of this year to change your lifestyle and stop being a negative scrooge who thinks they know everything about happiness?" So I went. And just like the SCUBA trip changed me for the better, so did the ski trip. First thing I realized was how little I knew about my true happiness and love for life. I would have bet anybody $1000 that I would not enjoy skiing before I went, but I would have lost it so easily. I loved skiing. Standing up at the top of 12K ft overlooking the Rockies was worth the price alone, but it was so much better than that. I loved the snow, the trees, the challenge, the speed, etc. I thought I would be miserable worrying about the money I had spent the whole trip but I simply was too happy to even care. Of course I had planned the trip on the best budget I could and found the best deals I could to keep it from being too expensive, so it was no longer time to worry. So I didn't. And after the ski trip was over I realized for the first time in my life I found something beyond "I want to retire because I don't like working and being in the rat race" as a reason for saving money. +6. The rest of the year continued like this. I listed the more expensive activities but many of them were free. Sometimes it was just driving to a new city and grabbing lunch, other times it was going out in a state park and hiking to a waterfall, and many times I pushed myself to try new things whenever I could. That $25 class was no longer just "a wasted expense" but a time that I could learn about my interests and push myself. At restaurants I would tell the waiter/waitress to order me their favorite dish on the menu without telling me what it was. If there was ever something I was afraid of doing I would go do it. My fears were irrational in many cases (as they many times are) and I started to see that my fear of spending money on anything had been limiting my life as well. And at the end of the year I had a giant list of new interests, foods, places, and desires that I never knew I wanted in my life; and with that came more happiness and confidence than I ever thought possible. The previous me would have laughed at the current me and said, "What a waste. Sounds like someone who got roped into living a lavish lifestyle and now is gonna be a sucker to it for the rest of their life." But it's just simply not that. It's 1000x better than that. + +8. I don't think money buys happiness nor do I think you need all of these luxuries in life, but I do think it's always worth pushing yourself and your barriers to continue growing and then trusting that you will make smart decisions in the future. Is it really so bad that current me has decided to budget for skiing in the future? Past me would think so, but that's silly! Current me is smart enough to weigh the value of more money vs skiing and determine if the happiness gained is greater than or less than the extra months of work. So trust future self to make smart decisions. We are all AMAZING savers here with some of the best money handling skills in the world. And this money spent didn't even really affect my FI date. I thought it would set me back years but it set me back like...1 month. And if I wanted to add in some expensive activity like a ski trip every year it set me back...1 more month. So it was simply a no brainer for me and it's ridiculous how I used to get so up in arms about things like this. And what's crazier is how I used to think I would let it spiral out of control. "Well first I'll be okay with a ski trip, then I'll be wanting $5000 skis and I'll be flying first class to the Swiss Alps and I'll have completely lost myself!" I had such a fear of losing myself to lifestyle inflation without giving my future self any credit for being responsible. Once again, I was living with an irrational fear. In the end I would rather be happy and working now than miserable and working 2 months less in my life. + +So that's where the phrase "Build the life you want, then save for it" came from. I don't just mean plan it, I mean start living it and experiencing it. Don't just build that list of stuff you want for the future, build it for the now too. Why do we pride ourselves so much on our ability to be miserable now? We always talk about how we "sacrifice" so that we can stop working faster. Why isn't living the happiest life while saving money our goal? It feels like we get so caught up in competing (with others or even simply ourselves) that we drive ourselves into a bit of that misery. And I don't speak for everyone, but I speak for the person I was before and for those I see around here who are in that same spot and mindset. For the people who talk about money not equaling happiness but watch/update their spreadsheets daily, check the market daily to see any gains/losses, and celebrate all the money milestones along the way. Because that was me, counting down the years for my life to start when all along I had the power to start it any day. + +-Llama +🐋🐋Fair Orca (ORCA)🐋🐋 + +&#x200B; + +🐋Fair Orca was designed to be the most fair Reflect token on BSC! There is a TX limit and random 2-8% TX fee to circumvent bots. Presale price was the same as listing price with a very low hardcap. 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So my wife had a 401k with which she contributed to for 5+ years,but being young and naive she forgot about it and lost all paperwork. + + What makes the situation a bit more murky is she doesn't recall the name of the institution through which the 401k is through, also the pharmacy with which she worked for (Brooks Pharmacy) was acquired by Right Aid. + + I guess if we want to claim it we need to do some detective work. Do any of you know and possible actions we could take. + +Thanks again guys and gals. +I keep hearing everytime the market crashes to "buy the dip" + +The thing is...where do people go for money for the dips? Margin? Cash on Hand? Or is it just a mantra to calm ourselves from going mad. + +What do you guys do? For me is hard having a lot of cash in my account cause i feel i'm trying to time the market for the dip...so i tend to DCA + +Just Hope for a Bounce but It seems I Will be buying a lot of dips this year...just Hope i do not catch "falling knives" +So most people are still anticipating the market to fall further and remain low for quite sometime. Does it still make sense to keep putting into a 401K with an employer 6% match even when we know over the short term we will lose money on those investments? Or does it make sense to park the money you’d put into the 401K into a brokered CD that you know will make a safe and guaranteed return and then continue the contributions after it looks like the market has finally calmed down? +This is a follow up to this post where I was asking help deciding to FIRE or not: +https://www.reddit.com/r/financialindependence/comments/9fesmd/help_me_decide_to_fire_or_not/?st=jr87spjo&sh=024c00c1 + +**Spoiler: I did FIRE** +&nbsp; + + +**Quick recap** +FIRE'd at 35 years old, 1.6 million Canadian dollar, Software engineer. +Homebody, with dweebish tendencies. +&nbsp; + +**Finances** +I don't own any real estate. +All my net worth is in index investing. +My portfolio went from 1.6M to around 1.5M after the recent Stock Market correction. +&nbsp; + +**Life** +To be honest I sit on the sofa for the best part of everyday. +I do go to the gym, and the occasional lunch with friends, but most of the time I just indulge in physical laziness. Either surfing the web or trying to come up with a money making idea. + + +I'm someone who seems to need routine to remain active and face my fears (social activities are a big one), and I have failed to create a routine that challenges me and gets me out of my comfort zone - home. + +&nbsp; + +I have considered creating a business and actually worked a lot on a website idea. +But I intuitively filter out any idea that comes with overhead (dealing with people, adding constraints to my schedule). + +I still have this concern that I will run out of money, and it prevents me from working a real hobby project where monetization is not a factor. + +I am starting to consider taking a job again. Maybe not right now, but the idea has been growing. + +&nbsp; + +My best friend says that people need challenges and constraints to grow, and I'm refusing to get any. +My girlfriend does not judge me for now but being with someone who does nothing can't be fun so it's bound to be a problem. + +I used to enjoy traveling. I've lived in 3 different countries. But in the last few years, I became less curious. +I view the travel preparation, and flying as a chore. + +&nbsp; + +I am basically turning back to being the sheltered teenager version of myself. + +&nbsp; + +That's it for now. +I will keep you updated in a few months. + +&nbsp; + +EDIT: **THANK YOU** for all the replies. I'm reading every single one of them. It helps a lot. There is some gold in here. Awesome community. + +I'm a 24 years old IT contractor. I am getting dividends & salary from my own limited company, adds up to £12.500 basic rate. My rent and personal expenses doesn't exceed that amount per year. (I live in North West) + +Every year I generate around £90k and I can't think what I can do with with that money staying in limited company account. + +I'm on a visa so I can't get a mortgage and buy a house yet. (Or can I get a mortgage?, couple of brokers said I can't because of visa, eventhough I can get a mortgage I need to up my salary to get a good one I think?) + +My first thought was, can I buy a house with my limited company and live in it ? and pay rent to my limited company, instead of paying to private landlord, I can pay to my own company which is more profitable, would that be sensible? or any recommendation to use that money is welcome, my first priority is buying my own house. + + +(I don't have much saved in personal account. Around £12k if that changes anyting) +In an [tearful interview](https://money.cnn.com/2018/08/17/news/companies/elon-musk-emotional-interview-nyt/index.html?iid=EL) with The New York Times, Musk said this has been "the most difficult and painful year" of his career. He said he works 120 hours some weeks and has trouble sleeping. Musk is also CEO of SpaceX and The Boring Company. +I own a fairly large piece of land in Italy (Tuscany) that can produce premium extra virgin olive oil, organic. + +I'm currently doing nothing with it. I could sell it, however I had a (crazy or stupid) idea to monetize it that I'd like to validate with you. + +What if I would "sell my land as a service" to multiple shareholders? + +The idea is to create 100 partitions. Each investors rents out a piece of land for a defined amount of time, paying a fee for it. The fee will be used to produce and bottle the olive oil, plus administrative fee. + +In exchange for that, renters will receive a certificate of temporary ownership and, most importantly, they'll be shipped a certain amount of olive oil to their door step every year. The bottles' lables will be customized with the name of the land as well of the investor. + +Would you pay say $1000-2000 a year to receive premium Italian extra virgin olive produced in "your own" land and bottled with your own label? + +Is this such a crazy idea or do you think it might have legs from an investor / consumer perspective? +The dirty bastards at Financial Crimes Enforcement Network (“FinCEN”) US Dept of Treasury just posted on the Federal Registry a new regulation to require US Exchanges to not let you send your crypto to an offline (re: address outside the exchange) address unless your tell them whom owns the wallet. + +The did this over the Christmas & New Year Holidays to bury it. Normally there is a 60 day window. Now it is only 12 "In the interest of National Safety". TOTAL BS. + +When you hit the hot link below you will get a page with a green button--click on that to leave a comment. Your comments will be read by lawyers. Be professional. If you don't stand up for your Privacy Rights NO ONE WILL. + +DO IT! + +HOTLINK TO FED REGISTRY: [https://www.federalregister.gov/documents/2020/12/23/2020-28437/requirements-for-certain-transactions-involving-convertible-virtual-currency-or-digital-assets](https://www.federalregister.gov/documents/2020/12/23/2020-28437/requirements-for-certain-transactions-involving-convertible-virtual-currency-or-digital-assets) + +SITE SCREENSHOT: + +&#x200B; + +https://preview.redd.it/6eufqkfn30761.png?width=1054&format=png&auto=webp&s=6c07ff6579ce998c76a61b3f8e58c45a0651b171 +Cardano is currently offering no real world use, every price increase is speculation on more people hoping on actual adoption. + +This speculation will still have too much volume for a crypto "just" adopting smart contracts. + +Smart contracts is a feature many other cryptocurrencies have while being fast and not taking much fees (XLM). +The speculation acts like Cardano would adopt a ground breaking never seen before innovation, even while it is considered a more basic feature by some people by now. + +(I like Cardano and even own some myself) +The IRS says I owe them over $400,000. I make exactly $0 per year and have struggled to find a job the last three years, currently living with my mother. + +The IRS says they "discovered" that in 2017 I made $1Million is bitcoin (not true). I basically traded bitcoin back and forth a bunch of times that I guess totaled $1million, so now I owe taxes on it (I just got a notice the other day). + +&#x200B; + +The two tax people I called quoted me over $5,000 to take care of this, but again I have exactly $0 and no job. So, am I just waiting to go to jail at this point? +I have been looking very closely at the US market for the past one year and also been doing a little investing in it. And during this I found more cons than pros. Some of them are- +Looking at two news sources. + +While the fraction investing is great it is heavily taxed and lot of transaction fees. + + +The market seems very mature and seeing even the average index return Indian market is still in the growing phase and the real money(stock market-wise) minting is where the growth is. + +A bit patriotic- apna desh ka vikas. +History has shown us from time to time how great it has turned out if a dollar was invested 10 years ago. +An asset class coming from less than a 1c to reaching a 69K$ mark is just insane and with its halving , low supply and higher demand just makes the best investment class available for everyone out there. Keep investing +I don't want this to seem like a woe-is-me post, so I'll keep it short and simple. + +My wife and I make a healthy income, and don't really want for anything. We are pretty frugal and are on course to chubbyFIRE sometime in our mid-late 40s. + +My parents who are at least a magnitude wealthier are offering to replace our 10 year old SUV, and have also offered to send out kids to private school if we so desire. I know they have also put away a nice amount in 529s. + +I have some qualms about that. + +On one hand, it feels irrational to decline a gift. The gifts would have real utility, and while we could fit them into our budget it would cost us in a way it wouldn't cost them. Also, family fortunes definitely help pave the way for greatness - Bill Gates, Trump, the Bushes, the Kennedy's, etc. + +On the other, it makes me feel like a spoiled shithead trust fund kid, considering they already paid for my college and car. Making my own money and buying my own house gave me a sense of self worth and fulfillment, and drove me to do bigger and better things. I also don't know I'd want my kids to grow up with the idea that their grandparents are rich and will spoil them for life - which they already do to an extent. + +Do you have any qualms about taking gifts from your parents? Should I? +I’m going to experience around a 10 million dollar windfall in the near future due to IPO startup luck. + +My stock is all in RSUs so there isn’t much I can do to avoid initial taxes, but I’m not sure what to do once I have my stocks in-hand. + +My plan is to sell all the company stock and buy low cost index funds. I would use dollar cost averaging and sell off over a period of time (probably a year) in order to average out stock to market volatility. + +Am I being naive? Should I retain professional help when dealing with amounts of money that are new to me? Or can I keep using the same strategies that I’ve been using for my measly 401k? + +Thanks for the advice. +29m I work in mechanical trades, not long ago I was working along side a ~60yoM my casual picking of his brain for information and advice he would give to himself at my age and he told me to always have 2 years worth of wages liquid and that is what got him through every up, down and crisis through life. He worked 14 hour days 7 days a week for 5 years before taking a single day off which was to purchase his first apartment in Singapore then over the course of his life hes bought several more, 8 townhouses in Melbourne and 5 here where we live in Perth 4 of which hes purchased for his children to have a leg up in the world where he had none. + +Currently has well into 7 figures in cash... and his base wage around 90k + overtime and he still rocks 6am to 6pm, 6 days a week. Personally I would've stepped back and tried to live a little bit more but hes content with what hes doing hes a really nice bloke and stereotypical asian dad, made me a little more grateful for my situation being that I only had to do 12 hour days 6 days a week for 2 years to get into my first place but also highlighting the fact that my emergency fund is too low however circumstances are right now it is what it is and making every effort to help myself now and future me. +About six months ago, after reading the Scott Pape book, I went "Righto, time to get a better home loan rate". I called ANZ, followed the script and got a slightly better rate but not as much as I was hoping for. I tried again a few months later but they said that was as low as they'd go. I said no worries, but I'll swap to another lender if they can't go lower and they said sorry, I'm on the lowest rate they can give. + +So I swapped to a smaller lender with a better rate. It wasn't much of a pain - just took a while - and hoo boy, it's heaps cheaper. Not only that, they've passed on the full recent rate cut, whereas ANZ kept some for themselves. Made me very glad I swapped. + +My question is: have you guys swapped lenders and was it worth it? +I recently came across an article on Business Insider regarding how much superannuation you should have at each age. Given this report was conducted by ING, I would love to understand whether the below milestones are realistic and achievable. + +At age 30, you should have $88,000 in super. + +At age 40, you should have $262,000 in super. + +At age 50, you should have $604,000 in super. + +At age 60, you should have $1,252,000 in super. + +URL link post in comments section +As a single person, I earn about 35K and have about 40K saved. So if I'm not wrong this means I can get a house or flat up to 200K now with my savings as a deposit and a 150K-ish mortgage. + +However, the houses I want are closer to 300K. To get these properties, I can hold off on a purchase now, focus on saving more, earning more and combining with a partner eventually to buy a house 300K+ with a mortgage and deposit. However, in the time it'll take me to do this (say 5 years) - I presume house prices will have gone up further making it more of a stretch. + +So considering the above - is it better to buy a <200K property now to get on the ladder (and perhaps sell later) or wait till I have enough to buy a more expensive property? +I am pretty sure I know the answer to this one but am wanting someone else to confirm so a family member can read it from someone else. + +&#x200B; + +Family member A gets a lot in benefits, DLA, her husband carers, including some means tested benefits, the job lot due to her health. + +She has reached the age where her pensions have started writing to her regarding cashing in amounts. + +&#x200B; + +Family Member B has recently bought a house and is renovating it but its slow progress. + +&#x200B; + +To speed it up Family Member A has suggested cashing in her pensions and gifting it to Family Member B. + +I pointed out that she should really not do this as the lump sum being in her account for 1 second would count as her having that amount and take her well over the amount to qualify for any means tested benefit. + +She suggested it going straight into Family member B's bank account. I said the pension company would never do this and if they did family member B would be taxed to hell. + +&#x200B; + +I've had this conversation 10+ times with family member A and it does not get through. Can anyone else confirm that I am correct (or even if I am wrong) just so I can show family member A as she thinks I am wrong. + +&#x200B; + +EDIT 13:40: + +&#x200B; + +Thanks for the responses guys pretty much confirming what I assumed. I have shown A these posts and I think she gets it now. Family Member A for reference is not yet state pension age but is above 55. + +&#x200B; + +Its a pity seeing her mental and physical health declining, hence the genuine need for DLA. The thing is she used to be very knowledgeable on subjects like this having spent most of her career in a Council Tax recovery department (The ones who chase council tax debts from attachment of earnings stage to taking it to magistrates courts stage). This is just another sign of her declining capacity. + +&#x200B; + +Again thank you guys. +Mr. RC finally has a conversation with us! After literally years of radio silence from the man, the same MSM who has articles about our red days up before it's even happened, has been SILENT. + +There's been many many things that reaffirm my dedication to this cause, but this one is big for me. They will spin the most innocuous thing into a shitstorm within minutes, yet they are so scared of traffic heading to GMEdd that they'd rather not say a fucking thing. + +This is so glorious. Fuck them and their boot licking, agenda pushing, bought-and-paid-for asses. + +The revolution continues. + +Ka is a wheel. + +DRS that shit, friends. +So I've been trying to create a strategy that generates some sort of consistent monthly/annualized return. + +Basically, sell the 45DTE Iron Condor on SPX. Let's use a 0.2 delta for the put side and 0.1 on the call side and then 50pt wide wings. The spot price generally lands right in the middle of the wings offsetting any skew. 0.2delta on the put side - SPX has to dive 6% to breach the long strike here, seems pretty unlikely in these circumstances. 0.1 delta on the call side - this is as low as delta gets - the way I see it, SPX has to moon big time to breach it, so 0.1 seems like a safe bet. + +Setting up a condor like this requires around 5k of capital/BPR. It yields around 8.5 to 1.1 credit received depending on VIX levels. (8.5 around 17vix, 1.1 around 22vix). So thats $850 to $1100 max profit per condor. + +Offhand, according to tastytrade, the SPX:VIX price change ratio is -15:1 - for every 15pt drop in SPX VIX rises by 1. Assuming it takes a 275pt drop to breach my long strike, that is an 18pt increase in the VIX. Let's take it that the VIX trades at an average of 18pts. This is a 100% increase in VIX for a 275pt drop. + +My plan is to use UVXY to hedge the downside against any black swan event or market crash that would cause a breach of the put side. Assuming for a VIX rise of 100%, and UVXY is levered 150%, a 275pt drop in SPX should yield a 3x return on the UVXY. Hence, for downside protection of $4000, I need a hedge of value $1350. + +This works out to cost around $6350 (cost of opening IC + VIX), yielding a return of $487.5, assuming that we manage the trade consistently at 50% profit. This is a 7.6% return over a 30day period (let's just say that the condors are closed at 30 days and not held till expiry). Annualizing this gives a return of 91.2%. This return could potentially be higher since the hedge is "reusable", ie - it's an ETF that we bought and own and can be reused for the same strategy down the road. Consider the $1350 spent on purchasing the hedge as "insurance" - so future trades require only $5000 capital, but for convenience's sake let's take it at 6350. + +What are the drawbacks of this strategy other than SPX mooning and breaching the call side? Perhaps I might be miscalculating how the hedge works. But if this strategy works, it's as close to set and forget as I imagine. No more fussing around with small caps and using screeners to find high IV stocks. Perhaps some rolling of strikes occasionally but that's it, we can all sit on a beach with a beer and watch SPX try and breach a call side delta of 0.1. + +What are your thoughts? + [https://www.optionsplaybook.com/option-strategies/basic-option-strategies/](https://www.optionsplaybook.com/option-strategies/basic-option-strategies/) +\*\*\*\*\*\^ Options "for dummies" guide \^\*\*\*\*\* + + +Also was wondering, do most people stick to "The Wheel Strategy" to keep cash flowing round and what would be best for accounts with $1000 that doesn't have enough money to get assigned ? Thank you, theta ganggang! + + +ROBO INU FINANCE is one of the many financial projects being spearheaded by ROBO GLOBAL INVESTMENT PTE LTD + +1. The practicality of the project + +* The project focuses entirely on the product. They not only exaggerate but the notion that a sustainable project always comes with quality products. +* The upcoming RoboWallet and RoboDex fully demonstrate the hard work of the team. The upcoming product has helped the price increase by nearly 400% in the last 30 days. + +1. A project that is completely transparent and has a lot of potential. RBIF has been verified on Coinmarketcap. [https://coinmarketcap.com/currencies/robo-inu-finance/](https://coinmarketcap.com/currencies/robo-inu-finance/) +2. A community strong by organic development. So everyone here is really united, supporting each other and creating a great strength. +3. Especially they are going to hold an AMA with Binance live this Friday. + +**With such potential, combined with about to spread to more investors. I believe the project will soon explode and will soon become the focus in 2023.** +Good news just keeps coming with this one. $OMI will soon be shilled into mainstream greatness. The largest crypto YouTuber announced that ECOMI will be the next AMA for bitsquad. This certainly means it will be shilled in his videos and by countless other massive youtubers following in his footsteps. + +This coming with $OMI starting the first steps in a massive marketing campaign, as well as the upcoming uniswap launch in the coming weeks. +🐶AkitaCash🐶 + +This is what you Dog Token lovers have been waiting for! + +Telegram - T.me/akitacashbsc + +The launch for this token is in 30 minutes, if you get in today, you become part of the community , become part of the journey and you will be part of our future.🚀 + +This is going to be the most based doggy token of all time! No Lies! Just wait until you see how based the team is! + +This project was inspired by many people who already have eyes set on the future (DOG COINS). They are preparing for what is to come. Being a part of $Akitacash will help you prepare for the future which will predominantly be crypto. + + +ONE team wallet with 5% of coin for marketing only! + +50% of supply will be sacrificed to CZ for safuty + +Max Supply: 1,000,000,000,000,000 +Burn: 500,000,000,000,000 + +Official Token Contract Address: +https://bscscan.com/address/0x183097f0cf3f85ab754f7e8b7602ee587285e865 + +50% burned: +https://bscscan.com/tx/0xcb48f7eab658e32fb76a3a67fcabb9aaa92dcba57ece5855a4f9a5322f4b1bd7 + +♻️ 2% RFI static rewards from each Transaction for HODLing #AkitaCash +♻️ 2% Automatically added back to Pancakeswap V3 for Liquidity + +☢️ Presale at 150 members, on DXsale ☢️ + +Softcap: 25 BNB +Hardcap: 50 BNB + +Min/Max: 0.1 - 0.5 BNB + +From the same team that brought you $KEANU on #BSC! +It gas hypothetically hit $10/gallon, would the US economy make it? + +Most states rely on personal vehicles to get employees around. Some areas can use public transport, but not all. + +Car prices are through the roof, inflation, insurance etc. + +It’s going to cost close to $1000/m to drive even an economy car. + +Average rent is $1200/m, way more in some places. + +Food is increasing in cost. + +If the average national salary is around $55000, the average person will be screwed. People who make more are still going to be hurting, only those making over like $200k aren’t going to feel it. +My question was this: + +I was under the impression that the Fed was owned, and the board comprised, primarily of TBTF banks, their proxies and their surrogates, and that the reason for this was mostly because these are the organizations and people who are positioned in the economy to execute the role of the Fed anyway. How accurate is this? + +Additionally, if this is true, does this not represent a textbook case of conflict of interest, considering that the Fed is the primary arbiter of USD monetary policy, and the organization most resposible for creating, supporting, and bailing out TBTF banks? +So is unemployment essentially falling because people are leaving the job market and have stopped looking for jobs? Why have people stopped? Is this the main driver for why unemployment rates are falling? Any articles or explanations would be appreciated! +https://www.cnbc.com/2020/04/06/janet-yellen-says-second-quarter-gdp-could-decline-by-30percent-and-unemployment-is-already-at-12percent-13percent.html +There is no doubt that Caroline Ellison (ex CEO of Alamede Research, the trading firm founded by Sam Bankman-Fried) is a criminal. She helped orchestrate a fraud that led to the loss of billions of dollars of customers and investors. Given how many people Caroline Ellison hurt, I totally understand that people despise her and that many of those that lost money due to Caroline's actions even hate her. I also hope she pays and goes to jail and lost money due to her actions (indirectly). + +What I do not like, however, is that many people here are judging/insulting her based on how she looks. Some posts are attempts at humor: + +https://preview.redd.it/wt3vbd56xt7a1.png?width=871&format=png&auto=webp&s=6e51730a6591a74ce4d2d1c2b64eec3d5b443036 + +... but a lot of them are also just blatant hatred towards her looks without any other content. This has been happening for almost two months now. A few recent examples: + +https://preview.redd.it/no32metv9t7a1.png?width=869&format=png&auto=webp&s=a92fd7cf9ab0a748f058d80ca47fb026a89daf14 + +https://preview.redd.it/tqglb7aw9t7a1.png?width=869&format=png&auto=webp&s=63f0d9360ff7585d0425d7acb86e7e15f51d2dd7 + +https://preview.redd.it/53c2bx0x9t7a1.png?width=873&format=png&auto=webp&s=fd71a26cebed24b7f2b9fa299849c866c2139327 + +It makes me wonder whether she would get the same treatment if she were male, knowing that women in general are judged on their appearence more than men (yes, science confirms this). Or in other words, whether this is a case of sexism/misoginy. Sam isnt exactly the most attractive human being either and I dont see similar comments made to him. + +But I also do not really care of the gender issue in that I simply perceive everyone as the same, regardless of gender. So, much more important: I hope that we can condemn her based on her behavior and actions rather than her appearance. Sam and Caroline are despicable human beings and should pay for what they have done. + +**EDIT: I did not write this in defense of Caroline. I dont care about her one bit and want to see her get punished. Its more for the quality of this sub, for women and society in general (because this unnecessary focus on looks does a lot of damage), and because I would prefer to see a focus on her evil acts. I also know -of course- that men get ridiculed for appearance too and condemn that all the same.** +I just felt like celebrating/bragging here because I knew I wouldn't get good feedback on Facebook (but showing off your new car is fine, I don't get it). + +[Here is my Breakdown](http://imgur.com/KCAWvGs) + +I thought about making a blog where I broke down each year of my working career from college graduation to now with income, expenses, and net worth at a few different points. However, I feel like I am your typical privileged poster on here. I came out of college with minimal student loans. (thank you mom and dad!) I got a degree in engineering and got a salary of 66k right out of school in 2011. I got a few raises and promotions up to $89k in 2015, which is ridiculous I know. Then I took a pay cut down to $75k a few months ago, which gives me a 10 minute commute and I am now enjoying the work I'm doing. I've been able to save about $50k per year and read a lot about PF/FI. (Edit2: I should clarify that my net worth has increased on average $50k per year, including the balance of my retirement accounts and realized or unrealized capital gains) + +I used to pick individual companies to invest in, and made some good gains that way, which wasn't hard to do in the bull market we've had. Now I've shifted towards index fund investing for my personal investing and the retirement accounts are in Target retirement date funds. Nothing much to see there. + +My plan is to work for another ~7/8 years in engineering which should get me pretty close to my 4% SWR goal, then maybe switch to something that gives me more time off, or is something I enjoy more or is something to do with car racing. Maybe even sooner if it wouldn't involve a large pay cut. + +If anyone has any questions for me I'd be happy to try to answer them. Or if anyone thinks the world needs one more personal finance blog, let me know. + +Edit: Here is my [networth over time](http://imgur.com/b2TusLE) for the curious + +Edit2: I felt like updating to answer some FAQs: + +1) I am using Mint.com for both of these plots. + +2) I was very fortunate to have my parents pay for all of my schooling and expenses while I was in college. But since then they have not been supporting me financially. + +3) So far in 2016, I am on track to max out my 401k ($18.5k), HSA ($3.25k), and Roth IRA ($5.5k). In addition to that my checking account has been increasing by about $1k per month. This would mean that I am on track to save $40k this calendar year. + +4) My paychecks are about $1350 bi-weekly, So $2925 a month on average after taxes, 401k, HSA, health and dental. Apparently I spend about $1900 of that on all my expenses. + +5) My expenses are Rent $825 (my share), gas $150, groceries $300, car insurance $100, Electric/gas $35 (my share), internet $15 (my share), dog stuff $100 . And I guess about $400 of miscellaneous spending a month. + +6) I used to invest by picking individual stocks I've traded: CF, KO, LAD, PEG, BBRY, TSLA, RHS, XLV, VPU, GOOGL. +Now I buy and hold, in my personal account I have HUBB, RBGLY, BRKB, VDC, VOO, VPU, XLK, XLV + +In my Roth I have VFIFX + +In my IRA I have VTI, VXUS and BND. (this allocation matches VFIFX VERY closely) + +7) I was able to get my Roth IRA so high in 5 years because my previous (and current) employer allow roth 401k contributions. When I left my previous job I was able to roll the roth contributions over to my Roth IRA. + +8) What is my plan? I don't know really. I like saving money and learning about different types of accounts, funds, tax benefits and ways to save. I don't plan on retiring and quitting my job, I am looking to get a solid income from my investments to give me the freedom to not worry about what salary I'm making, maybe I could take an entry level position in a new industry. + +9) I am currently a Controls Engineer who mainly programs PLCs + +10) I live in eastern Pennsylvania. +I recently stumbled upon the "APPC", or "AppCoins" token on Binance while browsing new coin listings. + +Like any half-decent cryptocurrency enthusiast, I was intrigued. "Aha! A new coin!" + +I took a deep breath and prepared to take a deep dive into the bowels of the internet to figure out what APPC is all about. And by deep dive I mean I googled "AppCoins" and went to their website. + +"Oh, they're trying to make a new app store. Good luck competing with Google Play and the iOS App Store!" + +Given Google and Apple's combined gigantic market share of the space, I was inclined to move on to the next lucky contestant on the Wheel O' Coins. But on a whim I kept scrolling. + +I thought "Wait, what? 200 million users? Over 4 billion downloads? What am I missing here?" + +Apparently AppCoins isn't a token from a new startup - it's the token from Aptoide, the #1 ranked *alternative* to the Google Play store. + +From the developer's side, the token is used as an incentive for users to download their apps. The end user is rewarded with tokens based on a unique system that determines if the user is actually trying out the app. The tokens are also used for in-app purchases. They can also be sent to and from one another. + +But enough about the token value proposition. You can research it in depth yourself and buy some on Binance if you're so inclined. Whether or not you buy the coin for speculation purposes is *not* the purpose of this post. + +**So...what does this have to do with Coinbase?** + +Well, let's first take a quick look at the AppCoins roadmap: + +* Q1 - Open Source Implementation: Release of the first beta version of Aptoide with AppCoins support +* Q2 - Pre Load Tier 1 OEMs: Rollout of AppCoins on Aptoide App Store, as well as on other app stores that joined +* Q3 - App Store Foundation: Production roll-out to all Aptoide clients (and other participant app stores) + +By the end of this year over 200 million Aptoide users will have the ability to purchase, earn, and use AppCoins from right within the app. + +To give some perspective, Coinbase has 13.3 million users as of October 26, 2017 [according to an article from CNBC.](https://www.cnbc.com/2017/11/27/bitcoin-exchange-coinbase-has-more-users-than-stock-brokerage-schwab.html) + +*Aptoide has over 15 times the number of active users compared to Coinbase.* + +**OK, you have my attention. Starting to sound like a shill post though. Get to the beef.** + +Buying cryptocurrency through Coinbase is *expensive*. Users are nickle-and-dimed at every opportunity: + +* Deposit fees: Free (ACH to receive funds in 3-5 days) through 3.99% for debit/credit card fees +* Transaction fees: from $0.99 to $2.99. It's a $2.99 + 1.49% variable fee for purchases over $200. + +Let's say you're not interested in buying Bitcoin, Bitcoin Cash, Ethereum, or Litecoin. + +Instead you want to convert your hard-earned $2,000 US dollars into something else like Ripple. Here's how it plays out: + +Your initial deposit: $2,000 +Deposit fee: $0 (ACH to receive funds in 3-5 days) through $79.80 for debit/credit card fees + +Now you have $1,920.20 - $2,000 in your Coinbase USD wallet + +You decide to purchase ETH with the intention of transferring it to an exchange that sells Ripple: + +ETH buy order: $1,920.20 - $2,000 +Transaction fee: $29.80 for ACH. Fee included in credit/debit deposit (so $79.80). + +Total purchase fees from deposit to ETH acquisition: *$29.80 to 79.80* + +EDIT: Adjusted the fee rate schedule to make them accurate. Do these fees still seem reasonable to you, even after the decrease in fees? Search Reddit for complaints about Coinbase fees and see what you find. And if you're unconcerned about the deposit transaction price, how about the speed of transaction to fee rate ratio? If we want cryptocurrency to be widely adopted then it should be friction-less. + +**Come on. Everyone knows that Coinbase is expensive. That's why I deposit my fiat into GDAX to buy crypto. The fees are significantly lower. Quit wasting my time.** + +Well, that's partially true. Anyone worth their weight in SHA256 hashes knows that GDAX is dramatically cheaper than Coinbase for depositing and purchasing BTC, BCH, LTC, and ETH. + +The part that isn't true is that *everyone knows that GDAX is cheaper*. A more accurate statement is "every *cryptocurrency enthusiast/trader* knows that GDAX is cheaper". Coinbase does not advertise that GDAX has cheaper fees. There is no GDAX app for a reason - it would heavily cut into Coinbase's bottom line. + +Your average crypto newbie buys their first coins through Coinbase because, let's face it, they have an app. Buying crypto on an app is something that your average person can comprehend. Apps are easy to use, trustworthy, and nearly everyone can do it regardless of their age and technical skill level. + +**Right, apps are easy to use. What a novel thought. You should tour the world giving Ted Talks about how easy apps are to use. Now could you PLEASE get to the point.** + +OK! I apologize for droning on. I'll cut right to the chase: + +Instead of jumping through all the aforementioned hoops with Coinbase, you buy AppCoins from the Aptoide app store and send them directly to your favorite exchange. Then trade the AppCoins for the cryptocurrency of your choice. In theory it should be a faster and more cost-effective way to purchase cryptocurrency. + +**Hmmmm. OK, I'm starting to understand where you're going with this. But I'm still going to use GDAX. I'd rather buy ETH from GDAX.** + +Hey, to each their own. I'd rather buy coins in 30 seconds with a couple of taps on my phone and send them right to Binance. + +**Oh come on. Now you're just shilling. Your whole rant was just a ploy to shill this coin. I'm going to another thread.** + +Honestly, no. I didn't write this to shill. I guess I'm just tired of Coinbase. And I bet there are others that are less than pleased with their business model and customer service. Remember when they didn't distribute all that Bitcoin Cash? + +**Ugh, yes. Don't remind me about that.** + +Sorry! Didn't mean to upset you. I know its a sore subject. + +If you read this far then congratulations, you have more patience than your average cryptocurrency trader. May your candles always be green. + +**Some interesting facts:** + +* The number of Bitcoin users is [forecasted to reach 200 million by 2024.](https://www.ccn.com/exponential-growth-number-bitcoin-users-reach-200-million-2024/) +* There are approximately [15 million bitcoin wallets as of September 2017.](https://www.statista.com/statistics/647374/worldwide-blockchain-wallet-users/) +* As I mentioned before, AppCoins will be rolled out as a completed project to 200M users by the end of 2018 whether you want to believe it or not (barring a total catastrophe, of course). Aptoide store users may not even know that they're using a cryptocurrency. +* AppCoins may be the first real "mainstream" cryptocurrency (by definition of the high number of users with little to no technical knowledge or grasp of blockchain). +* There will be 200 million users' app transactions on the blockchain. This is a huge step in the right direction for blockchain and cryptocurrency regardless of which coin you support. Rising tides raise all ships. + +Needless to say, I think that Aptoide and AppCoins is a project to be excited about regardless of whether you're a cryptocurrency trader or completely uninvolved with the cryptocurrency space. Cryptocurrency is going mainstream this year! + +To avoid confusion since Coinmarketcap has APPC listed incorrectly, here is the current accurate financial information. People are going to ask anyway so I would rather supply the correct information: + +Circulating supply= 98M APPC +Total supply= 246M APPC +Coin Price = $2.53 +ICO Price = $0.10 +Market Cap (CS x P) = $247,940,000 +Days on Exchange (Binance) = 7 + +Thank you for reading! + +EDIT: Spelling +https://www.reuters.com/article/us-usa-fed/fed-likely-to-resist-pressure-to-cut-u-s-rates-this-week-idUSKCN1TI0DV + +> SAN FRANCISCO/WASHINGTON (Reuters) - The U.S. Federal Reserve, facing fresh demands by President Donald Trump to cut interest rates, is expected to leave borrowing costs unchanged at a policy meeting this week but possibly lay the groundwork for a rate cut later this year. +I trusted all of you. You said you would HODL. + +&#x200B; + +Instead you SODL. + +Your bloodlines will be forgotten in history. The gene pool will weed you out as inadequate. The future generations you unfortunately spawn, while they last, will be poor and dumb. + +Is that what you want for your children and their children? Poor and dumb? Too bad, that's what they're going to be. All because you sold during the bear market in a moment of weakness. + +We were brothers and sisters in arms. A valiant group of individuals hellbent on changing the world. It turns out there are only a few of us with true strength, both mentally and physically. We've been stabbed in the back by short sighted individuals who are scared easily into selling at a loss. + +Take this as a call to arms. A wake-up call. I am insisting that you all HODL. We will defeat the bears and feast on their flesh and blood on a glorious round table with the finest mutton, mead, and life changing profits. Our future generations will be smart, rich, and attractive. + +We will become stronger than ever if only you have the courage. + +HODL. +Just poured a can of chicken enchilada soup ($2.50) over pasta ($0.20?) like sauce and it is, not gonna lie, pretty good. Is it cheaper than normal pasta? No, but it's a nice change of taste from normal pasta or ramen. It's also more filling than just the soup. It will easily make 2 meals. Gotta add this to my normal lunch rotation +Hi Personal Finance! + +I've read the FAQs, the windfall wiki, and even hit the search button, but I still am curious what people would suggest in my specific situation. There's a lot of pretty smart people here, but also a lot of conflicting opinions. + +Here's the basic details- + +Assets and Positives: + +* Inheriting about 150K, much more than anticipated! +* No CC debt, own all my cars, no need for a new one anytime soon. +* Pretty good credit score in the low 800s. +* My current home, est. value 330K +* My rental condo, est value up to 340k, Brings in 2K a month rent, but I cover electric and HOA dues of $280 a month. +* 401K balance of about 100k, pension of 50K (frozen). I put in enough to get full company match each month, but not much more. Anticipate another 30ish years in the workforce to build this up. +* Yearly bonus in February will likely be in the 18K range (pre-tax). + +Debts and “Liabilities”: + +* Owe 13K loan against 401K used when I purchased my current home. +* Owe 212K at 3.75% on current home. +* Owe 245K at 4.13% plus a HELOC of 27K at 4.24% on the rental condo +* Married, with 1 child. Likely will have 2 children (and would like to help with 2 college educations eventually). +* Wife is staying at home to raise the kids, so no significant income from her. +* Wife has zero retirement savings, so mine will need to cover us both. +* Single income household, and my job security is ok,but far from guaranteed. A layoff would be catastrophic to us. +* Just finished a remodel due to some water damage, savings are very low right now. + + +Thoughts- + +* My rental condo is in a VERY hot market, but there is a limit. I think I can sell next year for about 375K+, I’ve never really turned a profit, just broke even, and managing it is becoming a pain so this is appealing. + +* The “tempting” strategy, which is appealing for instant gratification reasons is, pay off the 401K loan and HELOC leaving about 100K left. Sell the condo, and make about 100K profit. Take the 200K+ and just payoff my entire mortgage on my home. Done, I own it outright. This would free up about $1700 a month I can then invest, put in college savings, whatever we want. Would also put us in a considerably better position if I ever lost my job to not have a mortgage. + +* The “smart” strategy I am guessing is to keep paying off loans and just invest the majority of the money in some conservative way and forget about it until needed for helping kids with college or retirement? + +Tell me why I’m right, wrong, or just missing the obvious? + + + + + +**EDIT: Wow, I was hoping for maybe 3 or 4 people to weigh in. Thanks to everyone that responded, I'm reading every single post! Lots of good stuff to think about. Here's what I have gleaned so far-** + +* Emergency fund. Emergency Fund. **EMERGENCY FUND**! A pretty big one, but not too big. Got it. +* Pay off the 401K loan. +* Talk to a real professional like a CFP. +* There is no rush to take further steps, research, know what I am doing before making any snap decisions. + +After that, consensus is a little less clear. + +* Investing the max amount of the inheritance possible is the best way to maximize the money. Doing otherwise I'm a chump giving up hundreds of thousand in "theoretical" gain. +* Paying off the mortgage is safer for the security of my family baring unforeseen disaster. I'm a gambler playing with my family's future I don't do this. +* I definitely should sell the condo. Its in the way of everything! +* I definitely should NOT sell the condo. Its the only way of making any money at all! + + + + +I've never been able to go here because they are open the same hours I work but today I went in late as I had a doctor's appointment. Anyway, I took proof of residency and income but they just asked me for that info and put me into their system. + +Today the choices were pretty sparse according to a couple volunteers but I was offered a large bag of rolls 4 days out of date. Basket of strawberries that look nice. Lemon Nilla Wafers that had sell by date from last month--oddly these taste like animal crackers. Can of applesauce. Bag of dried pinto beans. Ginormous jar of peanut butter with best by date from last year--good for a long time past that. Two cans of diced tomatoes. Family size bag of Caesar salad. Bag of mac and cheese that looks terrible but hopefully tastes ok. Couple loose onions. + +Have pot of bean chili cooking now and it smells amazing. I haven't had strawberries since June and am looking forward to those! + +I am extremely introverted and had to tell myself it would be worth feeling horrible for a few minutes when it means I will have stuff to eat this long holiday weekend. I was the only patron at the time so it was bareable but I was told the Saturday pantry they do once a month is super busy so I doubt I can do that anytime soon. + +Are you familiar with Little Free Library concept? There are Little Free Pantries as well, so you can access food any time of night or day but the closest ones to me are 45 minutes away. + +I'm glad I was able to go to the food pantry for the first time, despite my anxiety and introverted nature. Glad also that it was set up to reassure newcomers, from the very detailed website, to signs directing you from downtown area. If anyone is hesitant about going for the first time, like I was, I hope you can get the courage to do so. + + + + + + + + +Your markets are run by bots. Now your daily threads are too. + +&#x200B; + +This thread is for plans and thoughts prior to the market open period. + +Maybe use this time to read the [wiki](https://www.reddit.com/r/asx_bets/wiki/index/) [.](https://styles.redditmedia.com/t5_2hqqj5/styles/communityIcon_41pmnaqp4zn41.png?width=256&s=59bf38425fb316fdcba30365b272a5f19352f370) + +&#x200B; + +Posts relating to the "Is /r/ASX_bets about finance or effect your mental health?" etc will lead to a ban of the mods chosing. [You have been warned](https://www.reddit.com/r/ASX_Bets/comments/l0l9et/the_does_asx_bets_effect_your_finances_emotions/?utm_medium=android_app&utm_source=share). + +&#x200B; + +[We have an active official/unofficial discord. It's open to all discussions, stonks related and non-stonks related](https://discord.gg/ywAGqfUAQE). +I'm sure I'm not the only one who feels it. The Penny stock pumpers have invaded from Hotcopper. Feel free to do a shitpost or two to fight back. We Gay bears and mad Emus might fight the pumpers together. + +&#x200B; + +If your penny stock is good enough to have DD, then write some decent DD, then give it a Dumbfuck Discussion Flair. Otherwise, it goes in the Daily thread and it will still be judged negatively. From tomorrow, we will start deleting Penny stock posts without this Flair, or which have no content. If it involves a junior mine exploration company and you make a post about it, then you will get a Flair requisite with your dumbfuckery. + +&#x200B; + +ASIC have awoken. We don't want them bothering us. +Your markets are run by bots. Now your /r/Asx_bets daily threads are too. + +Read the [wiki](https://www.reddit.com/r/asx_bets/wiki/index/) people[.](https://styles.redditmedia.com/t5_2hqqj5/styles/communityIcon_41pmnaqp4zn41.png?width=256&s=59bf38425fb316fdcba30365b272a5f19352f370) + +[Posts relating to the "Is /r/ASX\_bets about finance or effect your mental health?" etc will lead to a ban of the mods chosing. You have been warned.](https://www.reddit.com/r/ASX_Bets/comments/l0l9et/the_does_asx_bets_effect_your_finances_emotions/?utm_medium=android_app&utm_source=share) + +Automoderator may provide "Guidance" for Lazy and zero effort posting. + +[We have an active official/unofficial discord. It's open to all discussions, stonks related and non-stonks related.](https://discord.gg/wsNDGTf5QH) +Your markets are run by bots. Now your /r/Asx_bets daily threads are too. + +Read the [wiki](https://www.reddit.com/r/asx_bets/wiki/index/) people[.](https://styles.redditmedia.com/t5_2hqqj5/styles/communityIcon_41pmnaqp4zn41.png?width=256&s=59bf38425fb316fdcba30365b272a5f19352f370) + +[Posts relating to the "Is /r/ASX\_bets about finance or effect your mental health?" etc will lead to a ban of the mods chosing. You have been warned.](https://www.reddit.com/r/ASX_Bets/comments/l0l9et/the_does_asx_bets_effect_your_finances_emotions/?utm_medium=android_app&utm_source=share) + +Automoderator may provide "Guidance" for Lazy and zero effort posting. + +[We have an active official/unofficial discord. It's open to all discussions, stonks related and non-stonks related.](https://discord.gg/ywAGqfUAQE) +Your markets are run by bots. Now your Weekend threads are too[.](https://styles.redditmedia.com/t5_2hqqj5/styles/communityIcon_41pmnaqp4zn41.png?width=256&s=59bf38425fb316fdcba30365b272a5f19352f370) + +Read the [wiki](https://www.reddit.com/r/asx_bets/wiki/index/) people. + +[Posts relating to the "Is /r/ASX\_bets about finance or effect your mental health?" etc will lead to a ban of the mods chosing. You have been warned.](https://www.reddit.com/r/ASX_Bets/comments/l0l9et/the_does_asx_bets_effect_your_finances_emotions/?utm_medium=android_app&utm_source=share) + +[We have an active official/unofficial discord. It's open to all discussions, stonks related and non-stonks related.](https://discord.gg/wsNDGTf5QH) +Your markets are run by bots. Now your Weekend threads are too[.](https://styles.redditmedia.com/t5_2hqqj5/styles/communityIcon_41pmnaqp4zn41.png?width=256&s=59bf38425fb316fdcba30365b272a5f19352f370) + +Read the [wiki](https://www.reddit.com/r/asx_bets/wiki/index/) people. + +[Posts relating to the "Is /r/ASX\_bets about finance or effect your mental health?" etc will lead to a ban of the mods chosing. You have been warned.](https://www.reddit.com/r/ASX_Bets/comments/l0l9et/the_does_asx_bets_effect_your_finances_emotions/?utm_medium=android_app&utm_source=share) + +[We have an active official/unofficial discord. It's open to all discussions, stonks related and non-stonks related.](https://discord.gg/wsNDGTf5QH) +Your markets are run by bots. Now your daily threads are too. + +&#x200B; + +This thread is for plans and thoughts prior to the market open period. + +Maybe use this time to read the [wiki](https://www.reddit.com/r/asx_bets/wiki/index/) [.](https://styles.redditmedia.com/t5_2hqqj5/styles/communityIcon_41pmnaqp4zn41.png?width=256&s=59bf38425fb316fdcba30365b272a5f19352f370) + +&#x200B; + +Posts relating to the "Is /r/ASX_bets about finance or effect your mental health?" etc will lead to a ban of the mods chosing. [You have been warned](https://www.reddit.com/r/ASX_Bets/comments/l0l9et/the_does_asx_bets_effect_your_finances_emotions/?utm_medium=android_app&utm_source=share). + +&#x200B; + +[We have an active official/unofficial discord. It's open to all discussions, stonks related and non-stonks related](https://discord.gg/ywAGqfUAQE). +Your markets are run by bots. Now your daily threads are too. + +&#x200B; + +This thread is for plans and thoughts prior to the market open period. + +Maybe use this time to read the [wiki](https://www.reddit.com/r/asx_bets/wiki/index/) [.](https://styles.redditmedia.com/t5_2hqqj5/styles/communityIcon_41pmnaqp4zn41.png?width=256&s=59bf38425fb316fdcba30365b272a5f19352f370) + +&#x200B; + +Posts relating to the "Is /r/ASX_bets about finance or effect your mental health?" etc will lead to a ban of the mods chosing. [You have been warned](https://www.reddit.com/r/ASX_Bets/comments/l0l9et/the_does_asx_bets_effect_your_finances_emotions/?utm_medium=android_app&utm_source=share). + +&#x200B; + +[We have an active official/unofficial discord. It's open to all discussions, stonks related and non-stonks related](https://discord.gg/wsNDGTf5QH). +My new employer has an ESPP program to purchase their stock at 15% discount. As an added benefit, they deposit your contributions into an escrow for 6 months first and then purchase all the stock at the end of the 6 month period. They choose the stock price based off the lower of the prices: stock price at the beginning of the 6mo period or at the end of the 6mo period. + +The max contribution is 15% pretax and I plan to take full advantage of this. I'm already putting 12% pretax towards 401k (with 4% employer match). + +To me, this seems like a no-brainer savings account with 15% interest. I understand if I withdraw my money the moment my stocks vest that I pay taxes on short-term capital gains. + +Even if the stock falls - I make 15%. If the stock rises, I make 15% + the price difference. Below are two scenarios. + +Scenario 1: Stock drops. Total in escrow: $11,214 + +* Period start stock price: $25 +* Period end stock price: $20 (end price is selected, lower of the two) +* $11,214 / (15% discount of $20) = 659 shares purchased +* 659 \* $20 = $13,180 +* **Short term taxed profit: $1,966** + +Scenario 2: Stock rises. Total in escrow: $11,214 + +* Period start stock price: $25 (start price selected, lower of the two) +* Period end stock price: $35 +* $11,214 / (15% discount of $25) =527 shares purchased +* 527 \* $35 = $18,445 +* **Short term taxed profit: $7,231** + +This is a no brainer, right? Even if I cash out immediately and pay short-term capital gains taxes, the profit is at **no-risk**. +Here are the facts - My family is middle class. My parents worked hard their whole lives but frankly never made wise financial decisions. They’re not excessive but whenever they had extra dough, it would go toward something unnecessary or frivolous because “they never got to buy stuff like this”. My younger brother is looking for work, unemployed, mid 20s and likely to be a drain on them for a while. + +I am a high earner as is my future husband. I’ve made good decisions, including paying off substantial student loans ($150k+) that I had limited knowledge of when my parents signed me up at age 18. Anyway, does anyone have experience with to handle this delicate situation? +- I don’t know how much they have saved but I can pretty much guarantee it’s a fraction of what retirement calculators will tell you to have (I work in finance) +- I am almost positive they still have CC debt and partial mortgage owed +- they are 66 and 61. Both work full time. Both talk high level about retiring “in the next few years” but I would bet $$ have no real plan +- they’re very defensive and sensitive about money talk. This is how it’s been my whole life. +- it concerns me that they’re not saving as aggressively as they should. For example my dad is the type to randomly come home with a new TV because “it was on sale” +- what is my liability? They don’t mention expecting to depend on me- but realistically what am I going to do when the money runs out inevitably and my little family is comfortable due to hard work, responsibility and sacrifice. + +Do I pay a fee only FA to be an objective third party and help have these tough conversations about saving, not having debt, choosing an appropriate retirement city, etc? Do I try to do it (I work in this area anyway, but they more or less treat me like I’m still their kid and judging them, rather then accepting the help and guidance graciously) + +Any real advice is very appreciated. Anyone else in the same boat and come up with a solution? +So I went a bit overboard with DCE JD contracts. (Fresh Hen Egg Futures). I took a bunch of drugs and my friend had a bird and idk why but it made me think a Bird flu strain coming this year so I got a shit ton of contracts. + +Turns out I hit the lottery as farmers across the nation massacred their chicken stocks cuz of bird flu. I got in at about 3750 a contract and cashed out at 4400. + +I apparently did not get all of my Contracts out and now I have people contacting me saying I need to take physical delivery of 10 contracts. A contract is 5 metric TONS of eggs!! + +I live in an apartment, I cannot take delivery of 50 tons of eggs!! What do I do???? I made a killing so I can hire whoever I need to to make this go away but can someone help me? I do not want 50 tons of eggs coming to my door. + +Would it be illegal for me to list delivery address as the nearest federal reserve building??? + +For reference/perspective: there are between approx 1174 and 2381 DOZEN eggs in a single ton. This puts me at approx 720,000 - 1.2 million eggs. I am really +Stressing out over the logistics of how the fuck I’d ship out this amount of eggs to shelters. It would have to be SO many shelters. + +EDIT: Those of your DMing me/commenting offering to buy my eggs, there is a 0% chance I’m doing business with anyone autistic enough to use this sub. Somehow we would find a way to both lose massive money. +The Commerce Department announced Friday morning that it would ban U.S. business transactions with Chinese-owned social apps WeChat and TikTok on Sunday. + +The announcement comes ahead of an expected statement Friday by President Donald Trump on whether or not the government will approve a deal for Oracle to take a minority stake in TikTok and become a “trusted technology partner” for the company in the U.S. + +It’s unclear if the Commerce Department’s announcement means there’s no possibility of a deal going through before the Sunday deadline, and it could be an aggressive move from the Trump Administration to push for its original intention for TikTok to be fully owned by a U.S. company. + +“At the President’s direction, we have taken significant action to combat China’s malicious collection of American citizens’ personal data, while promoting our national values, democratic rules-based norms, and aggressive enforcement of U.S. laws and regulations.” Commerce Secretary Wilbur Ross said in a statement Friday. + +Friday’s announcement from the Commerce Department is an enforcement of Trump’s original executive order from August 6 that gave TikTok 45 days to sell its U.S. business to a U.S. company or face a ban in the U.S. WeChat, which is one of the most popular social messaging apps in the world, is owned by the Chinese company Tencent. TikTok’s parent company is the Chinese company ByteDance. Trump’s executive order cited national security concerns over the Chinese government’s access to user data in those apps to justify the potential ban. + +The Commerce Department’s statement on Friday said that starting Sept. 20, U.S. companies would be banned from distributing WeChat and TikTok, meaning the two major mobile app stores run by Apple and Google would have to remove the apps from their libraries. The statement also blocks U.S. companies from providing services through WeChat “for the purpose of transferring funds or processing payments within the U.S.” + +WeChat is a popular marketing and sales tool for U.S. companies primarily in China, but around the world as well. With U.S. social apps like Facebook and Instagram banned in China, WeChat is the primary app people use for social networking and e-commerce. It’s also a popular app used by people in the U.S. to communicate with people in China, since U.S. apps are banned in China. + +The Commerce Department’s announcement also lays out a separate time frame specific to TikTok, which take affect on Nov. 12. The rules that start Nov. 12 include provisions that block U.S. companies from providing internet hosting and services for TikTok. This could be directed at the deal being negotiated between TikTok and Oracle, which would provide cloud services for TikTok if Trump approves, and could give TikTok and Oracle more time to hammer out a deal that Trump will approve. + +Representatives for Tencent, TikTok, WeChat, Apple and Google were not immediately available to comment. + +https://www.cnbc.com/2020/09/18/trump-to-block-us-downloads-of-tiktok-wechat-on-sunday-officials-tell-reuters.html +Hi everybody. Purchased shares of PLTR (no dividends, earnings etc) on the recent dip at 17.5 and sold CC against it with 21 strike with 21-May expiration. On 21-May the stock price barerly touched 21 on the open and closed the day at 20.75 and post-market even lower. Next day I found out that my stocks were called away at 21, I’m really happy about it. Who on earth would want to exercise his calls at a price higher than the market and make a gift for the other side of the trade? First time I see this kind of stuff. +I'm at the age where my friends are beginning to get married, and only starting to appreciate the fucking colossal cost of weddings. One of my closest friends tried to do in 'cheap', as in no fancy venue and meal etc, and it cost him close to £10k. + +A couple colleagues in work are having more traditionally lavish weddings, and both are pushing £30k with plenty more still to organised. These are by no means extravagant weddings, they appear pretty typical to me. + +Are we going to reach a point where couples just cease to be married because of the ridiculous cost? Or will the traditional pressure of having a big day force people into personal financial peril that will take them years to recover from. +Hi, so I'm a 19 year old student living in Poland and I can't bear the thought of working for 40 years until retirement. + +After university as an engineer I should be able to put away at least $500 a month while living comfortably in my country and my plan is to put it mainly into ETFs like SPY and Nasdaq and just leave it there for 10+ years. Does this sound like a solid plan? + +Currently, my portfolio is around $1300 (mostly SPY) . +Started the year at 45k, yolo’d into GME and sold the top perfectly, hit 350k in early February. + +Then in a series of bad decisions I yolo’d into SPAC warrants and lost all my gains and more. My portfolio hit 38k in June. + +My next move was to yolo into TELL calls and I rebounded to 150k in August. + +The next few months I day traded heavily and lost another 50 grand… I was down to 100k. + +My next ultimate retard move was to yolo into a biotech, lost 80% in seconds when the trial failed. + +Day traded some more and lost another 40%… ended the year at 12k. + +The benefit to this is I don’t have to pay any taxes at all this year. + +My net loss is only $7800 because of adjusted wash sales but it will still be a nice deduction: https://imgur.com/a/YPDjwyo +What do you think about this statement? I've read so much in the news this year about the explosion of retail investing. Most of it has been overtly critical of the apparent inexperience and irresponsibility of new retail investors despite strong evidence that retail investors don't do much, if anything, in terms of actually moving the market. Meanwhile, industry insiders are effectively engaging in the same risky plays you see on WSB, just on a way larger scale that actually has implications for the market. Think the whole Softbank story earlier this year. + +I think most people agree that this market is a bubble that will eventually pop. And I feel like Wall Street, as usual, will find a scapegoat to deflect blame onto. I have a feeling this time is will be retail investors. +I've been watching and trading the news for the past week on demo , and I'm quite satisfied with the results on it ! ( to be honest I was satisfied with every strategy I put together until it blow up my account ) +So the idea is to watch the news , whenever there is a major event ( that usually gives 20 to 40 pips ) , I wait for the market to take a side watching the 1 min timeframe , and once its clear , I open my position , the problem is I enter late , and I don't know how much more the momentum will keep going before going back , so I close after taking 5 - 10 pips , with a big size lot , and a couple trades like this a day , o end up normally with 200$ a day +Now to the problem , Ive never been good with stop loss , and scalping like this can blow the account in one trade ! So any help/advice ? +Strategies always sound like a fairy tale to me , until the end up like a nightmare +So please , feel free to criticise and share with me what ever ideas that come across your minds +Thnx a lot ^^ +Earlier today, after studying on the current bitcoin cash jump when I noticed it might be a thing, I decided to flip a big chunk of my eth holdings over to BCH to ride this wave, which I guessed was going to be sizeable. As always, cursing myself for not having seen this earlier, but confident there was some motion left this early. + +I popped over to Changelly.com -- where I've done several small quick coin swaps before -- and noticed the site was a little sluggish and there was a single sentence above the trade bar that said they were experiencing delays. My transactions have always gone through in 15 minutes or less in the past, so I figured if they were having a rough time it might be an hour or even at worst two, so it should be fine. Probably just that good ole blockchain IPO/bull slowness. If it was taking half a day or something they'd probably stop taking orders, or put a rough estimate of the slowness, or just go down. + +I set up the swap, dropped the coins on my end to their wallet address and waited to see how my exchange rate turned out. I was watching small swings in the rate, 1-2 bch and figured I'd be all right. After an hour there wasn't anything. I went for a run and came back expecting to see the swap complete. + +Nope. I emailed support. I really just wanted an ETA so I could be less tense about it or have some ballpark figure of how long I needed to go distract myself and ignore the pump. They responded pretty quickly assuring me, "Everything is stabilizing at the moment!" + +I go out and run some errands, figuring in another hour or two I'd have my money. Nope again. It ends up being 8 hours before they deliver. In that time BCH has gone up 40%. In fact, I looked at the chart a bit later. The BCH was delivered to me at the peak price, which we're currently a bit down from. + +Somehow, in this BCH run that I decided to jump in on at 1250USD and expected to cash out on at 1500USD -- and made the trade -- I lost 10k. + +In the support email and elsewhere on the website, they say "We never hold the rate, but do guarantee that the amount was exchanged at the best available rate at that moment." + +What exactly are they guaranteeing? How can you take eight hours to deliver my swap and then only deliver it right at the peak? How is that the best rate at the moment? It seems a bit odd to me that the trade was made at that exact moment. + +At any rate, I can't really do anything but whine about it. It's not like I have any real leverage on changelly -- they delivered the package. Granted, they banged it up pretty good before dropping it off. I'm a bit pissed but at the same time, I'm the idiot who didn't use shapeshift because it's banned in Washington state. I shoulda worked around that. + +We all know how things seem a little odd at many exchanges. If any given regular trader owned an exchange, I'm sure there'd be thoughts of using that flow of value briefly, just like a bank does. I suspect that Changelly indulged in a bit of that. Many of these exchanges and swap websites are short on communication and accountability and long on the benefits of a completely new tech space with no one's eyes on them. + +If anyone was wondering, I don't recommend Changelly.com. Stick to Shapeshift. I hope I can break even on this bull run. Call me an early adopter of the next dip. + +tl;dr Changelly took its dick out in front of me and jerked off with my implicit consent. +I apologise in advance as there have been so many of these posts but I think it's useful for newbies to read this, as it was for me. + +After initially reading the famous flowchart I reluctantly decided that it might be a good idea to put aside some money in an emergency fund. I honestly didn't see the point at first as I couldn't really imagine when I would need it. + +However, this week we tried to put our heating on and of course the boiler is broken and we need a new one. + +Fortunately, this is no problem as I have my emergency fund! And I've been doing a little happy dance in my head all day knowing that i can comfortably afford this. Especially as I have just got married and I was so close to spending every penny in my bank account on the wedding. + +So if there is anyone out there who thinks they dont need an emergency fund, please think again. It has saved my bacon. + +Thanks for reading :) +Congrats you degenerates, you finally beat The Man and you're swimming in tendies. This was a fun ride and it's probably not over yet, but I'm hopping off the train with over a million dollar gain. + +Here's the fun part - while I never thought I'd make this much on the trade, when I entered it I promised my Maker I'd give 20% of whatever gains I had to charity and folks affected by the pandemic. I thought maybe it would be $10k or maybe $20k - who knows, $50k if shit got wild. + +So far, post taxes it's around $150k. Wow. We researched charities in our area and I found one that focuses on preventing evictions and helping kids in crisis. We called them this week to tell them what we plan to drop by next week and they were shocked. It costs a lot less to keep a family in their current home than to find them a new one, and in a lot of places, the average eviction is over less than a thousand bucks. They estimate this will keep 100 families in their homes - the majority of whom have kids under 5. + +I don't want give up privacy or too many details here and you can ban me for that if you want ( you can see I mentioned this plan in an earlier comment a few weeks ago) , but there are a ton of eyes on this sub and this community right now - let's show the world that we're not the 'dumb money' and we do good when we do well. + +I encourage everyone who made bank on this to make a donation to a local charity as there's a lot of need right now. +Long story short: looking to buy a four plex and live in one of the units for a few years. Used my investment calculator and if I were to buy it for a bit less than asking price, the property would give me a 7.9% cap rate and 17.3 COC return (with 4 units rented). Cash flowing a bit over 600 a month once all 4 units are filled. Without seeing the property in person yet, it appears to be in nice shape and the listing states several newer upgrades/maintenance items have been replaced. I know people like to BRRRR but is it crazy or dumb to buy a property that doesn't need heavy rehabbing as long as the numbers seem to work? I know I'm paying a bit more than if I were to buy a run down property and rehab it. I'm in Northern Illinois btw. +Hi guys. I currently owe 185k on my house. We racked up about 66k worth of debt in the last 10 years. Bought a truck, got laid off, had a family and just general over spending and not paying things off, couple house issues that cost$$ then burried our heads in the sand. +We just had our house appraised at 530k @ a 3% interest rate, and we would like to pull 115k out to pay all put debts off, that would put our mortgage payment at around 1400$. What we have is: 40k loc, 15k loc, 7k credit card, 4k credit card, 2k student loan ( 200$/month) my wife's Invisalign (150/MTh) her car at 7k ( 200$/MTh) currently we are really tight due to the fact that my wife is on maternity leave but we only get 33% of her wages. So our idea is to pay everything off so we are not as strapped but then we are paying on her teeth and car for the next 25years. +The rest of the money is going into a new deck on the front of our house ( ours is littlery falling apart ) and a garage for me so my wife can have her laundry room. +We could take more but I don't know what interest rates are going to do in 3 years. +Let me know if you need other information. + +Edit: if we lump all of our debt we save 650$ a month in payments which would offset the money we are loosing for my wife being off. +3% interest vs average of 10%. + +Also I'm waiting 2 years for the garage. +After months of unemployment. I finally landed a job and made myself a budget. My old FIFO lifestyle made me wreck less and had bad spending habits and put myself in $40,000~ of debt. + +With every going to plan so far, I aim to have all of the debt paid off in under 3 years. Allowing for emergency savings, recreational savings, and give myself $50 a week so as to not have the feeling of wanting to kill myself from bordom. +So I'm reading all the doom and gloom about US recession, interest rate hikes, housing market dropout. Tough times ahead. + +My situation is I am early 40s and just paid off my home. I plan to live in it for a long time. I am also at the point where I now have extra disposable income which I will invest in shares. I would also like to buy a holiday home. Both my wife and I have reasonable jobs with security. + +The reasons I am excited: + +-investing when the market is down means more growth potential. I plan to buy and hold. + +-housing prices falling don't affect my primary residence as I don't plan to sell. I want a holiday home so that works for me. + +-having money in the bank for me at the moment does nothing. If interest rates go up then it's good for me? + +-i don't spend much on stuff. Not because I'm tight. I just don't need much. I don't need to drive much so fuel costs are not much of an issue (ride bikes!). I don't go out to eat much as I like to watch what I eat. + +I'm not great with personal finance stuff. Am I missing something? Is there something around the corner I am blind to? People are freaking out and I am excited (obviously not happy for people to suffer but that's another issue). + +I legitimately am confused as to whether or not I should be worried or my reasons for being ok with it is legit. +**Use this** [**r/place template link**](https://halfdane.github.io/rplace/) **so we can work as efficiently as possible**: [https://halfdane.github.io/rplace/](https://halfdane.github.io/rplace/) + +&#x200B; + +[PLEASE NOTE THE CIRCLE AT THE TOP LEFT](https://preview.redd.it/1obxq0wpzcr81.png?width=569&format=png&auto=webp&s=d3d677641ce22147b55bab460a9bb5f2addea799) + + How to use the Github program + +T[he site](https://halfdane.github.io/rplace/) will show you coordinates, and you can place the tile based on the coordinates here. + +When you hover over a pixel, it gives you the x and y axis - IF YOU CLICK THE TILE, IT WILL BRING YOU TO THE CORRECT TILE!!!! + +Then pick the correct color and place it :) + +[ when you click on the tile in Github it will bring you to the same tile on r\/place ](https://preview.redd.it/8tblhgbuzcr81.png?width=277&format=png&auto=webp&s=0d86023b2ab781daef1b48f1df15958336df9aad) + +&#x200B; + +[ Click on \\"place a tile\\", choose the correct color and confirm. Rinse an repeat every 5 minutes ](https://preview.redd.it/2zsef50xzcr81.png?width=213&format=png&auto=webp&s=a545f9ff55cc37b77f9e0bffa556280b698e85cc) + +# + +# If you're on desktop, shoutout to u/[DeadDevotion](https://www.reddit.com/user/DeadDevotion/) for [this awesome walkthrough on how to install and use our Place overlay!](https://www.reddit.com/r/Superstonk/comments/tuiahg/easy_visual_guide_on_how_to_install_and_use_our/?utm_medium=android_app&utm_source=share) + +To anyone helping to place pixels, a HUGE THANK YOU!!! You've been doing an amazing job! 💜 Let's keep this thing going! It ends on April 4Let's talk about alliances! + +This works better when you make alliances with other teams. + +Why? + +Other groups will attack and it’s good to have people on our side to defend our design, and we can do the same for our allies. + +Allies will not attack. Allies make other allies and suddenly even more people have our backs. If you see one of our allies getting rekt, help them out!!! + +We made design changes to incorporate allies and remove things we are wasting time and pixels on. + +For example, OSU - what is OSU? A super popular rhythm game.. they are gamers coordinating on discord and twitch. They are the perfect allies, they are strong in numbers, dedicated, and they are not expansionists. All they want is their circle. + +We are fighting an unnecessary battle, wasting time and pixels, by trying to take over the top left corner (coordinated gamers UNITE!), so we incorporated their outer circle into our new design. + +We made an alliance with Germany, they will not creep into our area, and we added a small heart to our left border to represent our united front. They are working on a portal OUTSIDE our border, so LEAVE it alone! That will protect us on the left side even more. + +The sweet birb from [r/PictureGame](https://new.reddit.com/r/PictureGame/) keeps getting its one pixel beak chopped off, so we’re going to add that to the right border. They messaged us that they will defend our right border. + +On day 1 we tried to make an alliance with [r/placetrees](https://new.reddit.com/r/placetrees/), they are a group placing trees to spread awareness about our climate crisis, and yesterday we redesigned our piece to free up that bottom space. Since we were already building too far to the right anyways, we were just going to add the logos to the right. + +Well, nobody followed the post and the trees got wiped out (by our NFT logos, yikes), so we kept the space to the right and redesigned our piece again, this time including a couple of trees. +