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winddude

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reddit_finance_43_250k

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uiavsc

Property management company listed as “landlord” on lease. Is this standard?

Working with PM (900 door size) on a new lease as current tenants are leaving. Prior lease came with sale so first time doing this with new PM. Draft lease shows PM company as “Landlord”. Seems odd but perhaps this is standard? Pros and cons of this approach?

realestateinvesting

"Landlord" and "Property Manager" are pretty much interchangeable, and just semantics. I prefer Property Manager, but that's just me. Gonna switch to "Housing Provider" pretty soon due to increasing anti-landlord sentiment. If you own the property and it's managed by someone else you're not the landlord, you're the owner.

6qedp9

I feel like the intelligent investor by Benjamin Graham is outdated...

Reading the intelligent investor right now. Four chapters in and the most relevant parts of the book for me are after each chapter where his writing is "reflected upon." Sure, Graham's advice is well thought out and there are nuggets in there that stand the test of time, but this guy talks about heavy bond allocation for 50% of the book. I just feel like the investing environment was completely different back then based on his writings. Thoughts? Maybe I'm not seeing the big picture here but I'm tempted to stop reading the book and just look up Graham's key points on google.

investing

Well, remember that most of the time the interest rates were much higher than now. https://tradingeconomics.com/united-states/interest-rate look at the numbers past 2000, interest rates have been low for 17 years now so there were times to own bonds (2001-2003, 2008-2009), but most of the time it wasn't a good bet

pxnjlb

Trying to figure out what Citadel is trying to divert our attention from…

But I think it may have something to do with Plotkin and Melvin Capital, who’s grow suspiciously quiet in the past months. Anyone have any idea how Gabe and Melvin are doing currently? How about his divorce? Did that ever happen? I know there were rumors in the past that they were going to split. DRS! The truth will unravel the mysteries. Brainstorm time

Superstonk

Now I’m digging into Melvin, might do my own DD but just check this out: one of their latest dumps. And look at the reason/location behind the dump. Could be nothing but…👀[Luckin Coffee (Recent Melvin Dump)](https://www.google.com/amp/s/www.wsj.com/amp/articles/behind-the-fall-of-chinas-luckin-coffee-a-network-of-fake-buyers-and-a-fictitious-employee-11590682336)

as9yx4

Payless ShoeSource files for bankruptcy as it closes its 2,500 US stores

https://www.cnbc.com/2019/02/19/payless-shoesource-files-for-bankruptcy-closes-its-2500-us-stores.html Payless ShoeSource has filed for bankruptcy protection. It has already begun to close down its 2,500 stores across the U.S. The retailer expects all stores to remain open until at least the end of March, and the majority until May.

investing

As a poor-ish kid of the 80's, I am still haunted by shopping for shoes at Payless. Kids at school all had Pony, Sperry, Kswiss etc. I'd roll up in some Pro Wings and take some serious heat. Then when topsiders became the style, my plastic Payless topsiders made my feet stank! RIP Payless. /s

m25ri5

Why do all of you keep falling for bullshit sob stories?

Memes were banned and now this sub keeps on falling for obviously fake sob stories. Why can’t y’all use some critical thinking? - Is 70yo gramps who is afraid of online banking *really* going to wire $100k to Binance, and talk to support via fucking *ProtonMail*? - Is some schmuck who took 3 decades to save $1000 *really* going to YOLO it all into Bitcoin? - Is some dude with fucking terminal liver disease *really* going to spend precious days trying to get his shitcoin back instead of applying for an emergency medical loan, which you can get in *less than a day*? Come on folks. Is it that hard for y’all to use your brains?

CryptoCurrency

How. Dare. You. My entire family got covid and were sexually assaulted by nazis then died in a fire. Me investing in Nano brought them back and cured their ptsd. I'm a millionaire now. Thanks r/CryptoCurrency No thanks u/CONNOR_RK900 You see everyone clapping? That's how I get my moons. By struggling.

4xczbq

Weekly FI Frugal Friday thread - August 12, 2016

Please use this thread to discuss how amazingly cheap you are. How do you keep your costs low? How do become frugal without taking it to the extremes of frupidity? What costs have you realized could be cut from your life without pain? Use this weekly post to discuss Frugality in general. While the Rules for posting questions on the basics of personal finance/investing topics are more relaxed here, the rules against memes/spam/self-promotion/excessive rudeness/politics still apply! Since this post does tend to get busy, consider sorting the comments by "new" (instead of "best" or "top") to see the newest posts.

financialindependence

My car's check engine light came on and it was idling rough, so I took it to the stealership as its powertrain is still under warranty. Well, turns out 2/4 ignition coils are bad and they're technically external to the engine so it's not covered. I ask for a quote, they want $700 to replace all four. I almost spit out my coffee. I said to the guy, is this a BMW dealership? (I drive a Kia). I could maybe sell my car for $5000 right now, as it was only about $11k brand new and is now about 6 years old. 15% of my cars value in one service that ISNT powertrain related?? I have him give me the diagnostic codes and do a little research on my own and it turns out this is a five minute DIY. Ordered a set of four coils on Amazon, same day shipping, with a life time warranty, for $40. He wanted to charge $126 EACH coil. Popped them in that night within 10 minutes and the car has run smooth as butter for a solid week of commuting now. TL;DR a little research saved me about $650 in car repairs.

63alx4

Are some of the FI posts delusional?

Ok, I’m going to throw this out just for a discussion. I keep seeing these FI threads of I’m 30-50 years old, have 500k - 1M in the bank and should be FI. I just don’t see how that could possibly work with the time horizon (a 30 year old could have 60 years to live still) or the small amount of money. I’m 45 and have excess of $3M and feel that I’m easily 10 years off of being FI. Some of that is waiting for the kids to be done and remove that uncertainty in that area, but I don’t feel like I’m comfortably in FI mode either. Thought about it a while and just wondering people’s thoughts on the following: 1. Taxes - Why do I never see anyone talking about this? I see the I have 1M and at 4% SWR that means I have 40k/year which I can live on. We all know you aren’t going to get 40k and in most cases you will generate dividends, capital gains, etc… that will be taxable. Not everyone has everything in a Roth that is accessible. Is anyone afraid of higher taxes or even worse a wealth tax? 2. Inflation - So if I need 40k a year now, that doesn’t mean it will be 40k in 10 years. I know that is supposed to be built into the 4% withdrawal rate, but with some of the time horizons I see posted here a bad decade of returns or a bad decade of inflation is going to be disastrous… right? Maybe I’m just not confident in the 4% SWR… 3. Health Care - I see it every once in a while, but if you are pre-63 (or something around there) you are going to have to get insurance. I haven’t shopped, but I know for sure it could easily be 12-18k a year. Also, as you get older your out of pocket will go up. This seems like a huge unknown. Retiring on such a small amount makes this even a bigger elephant in the room. Are people just saying, its worth the risk and not getting it? 4. Expenses - How are people living on so little? I know I live in an expensive area (DC) but I have a hard time wrapping my head around some of the numbers. I’ve looked at my expenses, plenty to cut, but plenty that will remain. Stuff that adds up - Car/Home Insurance, Real Estate Taxes, HOA and Utilities. Hard to get around any of that and for me it easily adds up 8-10k. Add in gas, groceries, eating out once in a while and buying or fixing something and you quickly get a number. Haven’t even talked about that out of pocket auto repair, medical procedure, house repair, car purchase, etc… Are people really confident about what they really spend? Is the FI group just very frugal? 5. Kids - I put this last because to each their own, but I cringe when I see someone trying to FI with kids in the house. They are expensive even if you keep them on the tight and narrow. Not to mention College which is now running $25-$50k/year per kid! PS I’m using a throw away account as I don’t like to share what I have.

financialindependence

1. 40k of income isn't a lot and so your taxes will be a lot lower than when you were earning that big income which allowed you to save. Plus SOME of that 40k can come from tax sheltered accounts lowering the tax burden even more, using certain strategies to get it before age 60. 2. Withdrawal strategies and market growth projections already account for inflation. Portfolio failure is highly sequence dependent - a bad decade in your first decade of retirement can sink you, but a bad decade later on is much less likely to. In your first decade you have much higher ability to go back to work if WW3 happens. 3. I'm a typical nonsmoker 28 yo male and health insurance on the govt exchange was not more than 3kish a year in premiums for plans with a ~1k deductible. For 50 year old me, it was not much more. 12-18k probably includes a spouse and several dependents. 4. Idk, I spend 25ish k per year and live an awesome life. Yes that includes housing and a car and I feel confident in being able to maintain that level of expense for a long time. I don't live in an expensive city and don't plan on buying a large house which costs more in taxes/maintenance/utilities etc. 5. I don't want kids so I can't speak to it. Not impossible, they do cost money, but not forever. IMO if you don't get a decent scholarship to a 50k/year school you don't need a 50k/year school. Helicopter parents may disagree with me but it worked out swell for me. Plenty of folks seem fine working a couple extra years to help out with college or making their kids pay their own way. It's just a question of your values. You seem to value some expensive choices. Not everyone does, and it's a far cry from claiming these values are necessary or universal for someone to live a happy successful life. There are a lot of optimistic and young people here but this sub was originally born out of a very frugal subculture and the numbers are pretty far from "delusional"

gi52ib

Sharing my Google Sheets "Investment Tracker"

Hey guys, I've started using Google Sheets (rather than Excel) to track my investments and created a handy little tool to monitor their performance. There's also an asset allocation tab which provides a decent summary of your overall portfolio. It's far from perfect, but hopefully you guys find it useful. If you have any suggestions or make any helpful modifications I haven't thought about, please share! *Click File --> Make a Copy to edit your own.* [https://drive.google.com/open?id=1i1wdmZWP22AEGZSThSl7iU0AF3GlsFmOZqhr8Q0lIVg](https://drive.google.com/open?id=1i1wdmZWP22AEGZSThSl7iU0AF3GlsFmOZqhr8Q0lIVg)

investing

That's a super clean looking google sheet. I recently started something similar but less clean. https://docs.google.com/spreadsheets/d/1H06H5JRVJ2tgW_pwbT1xd1-7hQmiGgHBA1qdWifxuT4/edit?usp=drivesdk The big difference is mine has goals based on age and also my investments are divided into stocks, real estate, bonds, companies, and equities. I will probably try and combine mine with the clean look of yours.

ro72cn

Daily FI discussion thread - Saturday, December 25, 2021

Please use this thread to have discussions which you don't feel warrant a new post to the sub. While the Rules for posting questions on the basics of personal finance/investing topics are relaxed a little bit here, the rules against memes/spam/self-promotion/excessive rudeness/politics still apply! Have a look at the [FAQ](https://www.reddit.com/r/financialindependence/wiki/faq) for this subreddit before posting to see if your question is frequently asked. Since this post does tend to get busy, consider sorting the comments by "new" (instead of "best" or "top") to see the newest posts.

financialindependence

Merry Christmas to all! With some RSUs vesting today, I am officially a millionaire at age 29. I was fortunate to land a job at a tech company after college and have benefited immensely from high salary, stock, and benefits that come with tech. I’m aware of the luck and privilege I have, but also want to take a moment to celebrate this milestone. My parents filed for bankruptcy when I was a little kid, and that experience has had a lasting impact on my life. Seeing my parents cars get taken away, fight over money, work multiple jobs to put food on the table, etc. was something I never wanted to experience again. I started working at 12 baby sitting, walking dogs, mowing lawns, etc just to save in case anything we’re to happy again. Fortunately my parents got their shit together and are about to retire :) I have no plans to retire at this time and am (mostly) happy with my job. But it’s nice to know that if something were to happen I’ll be okay :). I hope to buy a house soon and continue to grow my NW :) Breakdown in case it’s of interest to anyone: - 29M in tech (non-eng) - rent in VHCOL city ~1.02M NW break down - 495k RSU (yes, I’m aware I’m over-indexed here) - 343k 401k/Roth -130k taxable brokerage - 20k cash -15k HSA - 14k crypto

zd6nzq

Financing an expensive purchase with credit 0% APR but what's the catch?

Want to buy a new ebike. The cost is £7020. The retailer offers Paypal or Barclays finance credit at 0% APR and a total charge for credit of £0. What's the catch? There has to be something? How does Paypal / Barclays make money from me by offering this? It works out to £195 per month \* 36 which is exactly £7020. Any reason I shouldn't do it or spread out the payments?

UKPersonalFinance

At 7k you should have a look at the government’s cycle to work scheme, it will allow you to save on income tax and as the payments are taken from your pre tax wages it will be better than a 0% loan by whatever % tax you pay. As others have mentioned 0% is usually subsidised by the brand / shop to encourage the sale. On a side note bike manufacturers are taking the p with £7k to £16k bikes , the components are outsourced and the frames are normally a combination of 9 tubes I don’t think the price should be similar to a modern motorbike

z15y3z

The plan is to hold bitcoin forever, right?

I have been buying *bitcoin* for the past 8 months, in that time I have amassed more than I had planned, I have also learned a great deal about bitcoin, this causes me to buy more bitcoin, and this is the problem. I initially decided to buy bitcoin because it is the safest of all cryptocurrencies etc. and fully intended to sell it **When** the next bull market was in full swing, I have now learned that it is actually priceless. Now here is my problem, I don’t think I can sell it, ever. I will probably never hold bitcoin at a loss after the next halving. There must be many in the same situation as me. What do you plan to do with your bitcoin? Will you sell it in the next run, or greedily hoard it like Smaug? Or both? What is the end game here? Edit: Thank you all for your responses, I have learned a lot from you. The consensus here seems to be “don’t sell your bitcoin necessarily but rather spend it as you would cash when you need to make important purchases”. There is a wealth of wisdom and experience in this sub, you are all very helpful and thoughtful.

Bitcoin

No. I want to use it as money. I think that is the main purpose of it. I believe we will eventually get there. For now, I spend it where it is possible and immediately buy more with fiat even if it takes me a few more steps to do it. Everyone who tells you to buy and hodl just wants your liquidity.

81cjkq

Bitstamp can't lower their withdraw price.. it's already 0

All this news congratulating exchanges for reducing their fees seems unfair without noting Bitstamp has no withdraw fee! Canadian exchange QuadrigaCX also has no fees for withdraw!

Bitcoin

They've also had tx-batching for years already and were one of the first exchanges to implement SegWit. I guess when the bill for transaction-fees comes out of their own pocket, it gives extra motivation to implement features that cut down on fees.

xpeqep

How To Neutralize Retail Investors

A review of some basic community disruption tactics and how they may be used in the GMEverse. # TLDR If retail were to get all together and throw itself at any particular part of Wall St's power structure, retail would win. Case in point, DRS. Wall St fears this. There are tactics, used since always, that are used to disrupt and divide any group that could rise to challenge and change the dominant group's cushy situation. If you don't learn what these are, you won't notice them when they emerge, and you'll get fooled. These tactics are used because they work, and work *very* well. The powerful stay powerful in large part because they work, and work *very* well. Key quote: *Remember these techniques are only effective if the forum participants DO NOT KNOW ABOUT THEM.* # Motivations *“What they’re worried about is a popular uproar against them ... And they’re worried that could really change things. They’re more worried about change than we are about making it… they’re afraid that we can do more than we think we can do. So it makes me think that they’re vulnerable.”* (Thanks to [/u/I\_Fuck\_Older\_Women](https://www.reddit.com/u/I_Fuck_Older_Women/) Superstonk/comments/uyqk1g/comment/ia6mwyz/?utm\_source=share&utm\_medium=web2x&context=3) ​ [Don't negotiate against yourselves. They are counting on it.](https://preview.redd.it/3ksopuce4eq91.png?width=852&format=png&auto=webp&s=b32d9dfa677efa9797e0af51a73a567371ef8ac1) https://preview.redd.it/109tabmg4eq91.png?width=668&format=png&auto=webp&s=2f06d377f1f5158ed951c7c55607de31ebeecce8 I have previously written on manipulation of retail's perceptions [here](https://www.reddit.com/r/Superstonk/comments/wb2voh/memetic_warfare_the_sec_and_wall_streets_secret/). # Playing the Hits First, the ["Guide to Forum Spies"](https://cryptome.org/2012/07/gent-forum-spies.htm) gets reposted here every so often because it's such a good summary of the tools used to disrupt communities like this. We've seen these tactics in action quite a bit... and sometimes we haven't seen them in action because they were well-used. A key passage from the brief writeup is: *Remember these techniques are only effective if the forum participants DO NOT KNOW ABOUT THEM.* You will notice that multiple parts of the guide are explicitly used by Ken Griffin (e.g., paint opponents as conspiracy theorists, invoke authority, dismiss charges as old news, impugn motives, knock down straw men, etc). I've chosen a few pieces of this to review today, and add some extra pieces of my own that I've noticed appearing (the OG guide was written in 2012). The guide is old and lacks context, and "The Game", so to speak, has evolved since then. So I'll be taking some pieces and weaving them together into a more relevant set of information for today. # Avoiding the Point *They never actually discuss issues head-on or provide constructive input, generally avoiding citation of references or credentials. Rather, they merely imply this, that, and the other. Virtually everything about their presentation implies their authority and expert knowledge in the matter without any further justification for credibility.* This is countered very easily: ask for sauce, question everything. Ask for where they got that quote, ask where they idea comes from, ask for the statistics, ask for the source material. It is incredibly important to cultivate a culture of sauce provision. This alone is an iron line of defense. I've had multiple users try to convince me NOT to submit evidence of crime to the authorities. I've had multiple users try to convince me NOT to complain about the state of things to the authorities and politicians. They avoid sauce, they avoid diligence, they imply and directly state that opposing Wall St is useless because the fight is already lost, and they do so with absolute confidence. What IS that? The most common version of this I see is "The SEC sees naked shorting but it doesn't care". But... what DO they see? I don't know the answer to that, and neither does anyone I talk to. I do know for a fact entities like Citadel skirt reporting requirements through [rule exemptions](https://www.sec.gov/rules/final/34-50295.htm), [dark pools](https://www.sec.gov/news/statement/shedding-light-dark-pools), and the like. Interesting fact: the recent slew of proposed rules [are closing these exemptions](https://www.sec.gov/rules/proposed/2022/34-95388.pdf). So how is everyone so confident? Easy enough to make a claim and stoke anger that is directed at the wrong target. No better way to keep retail off your back. # One Brush Thinking It is incredibly tempting for ape brains (i.e., human brains) to paint complex issues with one brush. Thinking - cognitive effort - is [inherently aversive](https://www.sciencedirect.com/science/article/pii/S2352250X15001979). Brains love to find ways out of cognitive effort. By painting complex subjects with a single brush, by considering all elements of a complex system or group as exactly the same, we avoid a lot of effort and feeling stupid and struggle. It's rewarding. You may have put together that stereotyping is an example of One Brush Thinking. Because human brains naturally tend to move toward One Brush Thinking, it is very easy to push people in that direction. **Critically, because One Brush Thinking is by definition overly simplistic, and having an accurate model of the world is powerful in a competitive context, pushing an opposing group toward One Brush Thinking is a key way to weaken opponents.** This applies to other familiar things, too: you can decide that the DOJ, with over [110,000 employees](https://www.eeoc.gov/federal-sector/department-justice-doj-0) is one thing and everyone there operates the same way, when that is impossible. Even the SEC, which some love to paint with one brush, has over [4,000 employees](https://www.sec.gov/spotlight/sec-employees.shtml). Are all these people the same? That is impossible because these are complex groups and systems made up of many different types of humans who are there for many different reasons. Any government agency will have a number of good people because of their size and who they attract. A very effective trick is to convince people that goodness does not exist there. **Thus are good people separated from each other.** This is one way good people are kept divided and powerless. Gov agencies are *very* policy and procedure based and those policies and procedures, while annoying, can be powerful friends. You will be convinced there are no allies out there, no one to help, no one to join you. As I mentioned earlier, I've had multiple users try to convince me NOT to submit evidence of crime to the authorities. I've had multiple users try to convince me NOT to complain about the state of things to the authorities and politicians. They paint agencies that are there for us to use - the DOJ and the SEC - with one brush, and use that perspective to argue that Wall St should not and cannot be opposed in that way. Don't submit evidence, don't complain. Again: what IS that? # Neutralizing New Competitors If there is one thing big funds and banks hate, it's competition; they want competitors beaten and gone. *One way to neutralize a potential activist is to get them to be in a group that does all the wrong things. Why?* *1) The message doesn't get out.* *2) A lot of time is wasted* *3) The activist is frustrated and discouraged* *4) Nothing good is accomplished.* *The actual size of the group or movement being infiltrated is irrelevant. It is the potential the movement has for becoming large which brings on the spies and saboteurs.* This means sidetracking potential apes into irrelevant things. We likely explicitly see this in things like popcorn, but also in multiple other GME subreddits, and other movements entirely. Once divided, the entire population that would be powerful together can be dealt with and distracted. Divide and conquer, which we all know. Spaces are created, then disrupted. The recent example of this is popcorn dilution and "Gme investors" antagonizing popcorn. We are more powerful together, but somehow dislike each other. Whom does this serve? We have commonalities and could come together over opposition to abusive shorting, lax reporting requirements, DTCC self-regulation, and more. But there isn't even a whisper of that. Who benefits? # "You're Dividing the Movement" This is something you will have seen, over and over. The best thing about DRS is that it's easy as fuck. Once you learn how to navigate the intentionally obtuse path to DRS, it is *literally* set and forget. So this leaves us free to do other things, like oppose the system that allows for the Event that brought us all here in the first place. It leaves us free to oppose large entities like Citadel, the DTCC, Point72, Susquehanna, and others. Remember: when it comes to DRS, *we have already won*. We will continue, we will continue to help each other, we will accelerate, and that is the end of it. Now: for some reason, whenever we start gaining momentum toward specific vectors of opposition, an incredible diversion campaign takes place. It often takes the form of "Don't focus on that, we can only focus on this", "This doesn't matter", "Nothing in this community matters anymore". And then we argue and people disengage, energy for movement is spread out and dissipated, and relatively little happens as a result. It's wildly effective. # Wasting Time to Buy One More Day It can be very easy to waste time and energy on an internet forum like this. You just have to leverage how the hive mind works; we've all heard and seen the "WE NEED MORE EYES ON THIS". This is a natural request for help. We are all busy people with actual lives that need tending to, and if we find something we present it to the group for review. This is good and desirable. But, it can also be used to sidetrack people who would otherwise be focusing on things with real potential to challenge and damage powerful entities. I believe this happens a lot because it's what people will tend to do. WORK is hard, talk is easy. Instead of choosing a single point of opposition and steamrolling it, individual group members will be distracted by any one of a wide variety of topics that are also relevant. Then, people are set to argue about which topic is THE MOST important and relevant. When in reality a complaint takes 5mins, DRS is set and forget, signing a petition is easy, and so on. # Manipulate the Goalposts, Demand the Impossible *Ignore proof presented, demand impossible proofs. This is perhaps a variant of the 'play dumb' rule. Regardless of what material may be presented by an opponent in public forums, claim the material irrelevant and demand proof that is impossible for the opponent to come by (it may exist, but not be at his disposal, or it may be something which is known to be safely destroyed or withheld, such as a murder weapon.) In order to completely avoid discussing issues, it may be required that you to categorically deny and be critical of media or books as valid sources, deny that witnesses are acceptable, or even deny that statements made by government or other authorities have any meaning or relevance.* I see goalpost moving all the time, and the type used to neutralize good people. "I won't do anything until X happens" is code for "I won't help X happen", and more clearly, "Don't help X happen". # The Takeaways ## Question everything, ask for sauce. Don't be lulled by memetics and extreme confidence. ## Preventing action is the goal. You will be sidetracked into discussion rather than action. ## Ask yourself WWKGD? "If Ken Griffin were here in disguise, what would he say?" The answers are always from a small set of "commandments": * Don't report crime, * Don't complain, * Don't lobby proposed rules, * Don't WORK, * Don't take direct action against the things he values (eg PFOF, FTDs), * Don't build credibility for yourselves or your goals, * Waste your time on anger and endless discussion, * Don't consider individual bricks worthy of your time and attention, * Give one more day. The arguments for each of these will change faces and tone, but look through to the end result. "PFOF is over, focus on X instead", "nothing in this community matter anymore", "the SEC shreds complaints everyone knows that". Always look through to whether or not someone or something is telling you to be inactive or distracted. Always look through to who benefits in the end. You'd be surprised to see how often it's just wall st. Thank you for reading, and good luck out there.

Superstonk

Excellent write up. A delay is a win for these Assholes. They want you as passive and apathetic as possible. Avoid reflexive negativity and fatalism. Avoid the “everything is irretrievably fucked” attitude. Avoid the “we are all alone” comments. AND even avoid the I Trust RC when used as a ploy for inaction. DRS is the Way. Be the Change you wish to see AND engage with those working to affect positive outcomes.

iiqkbd

$COW - $430k Market Cap - Stake COW and earn MILK!

So here's the thing: COW is a deflationary token that can generate MILK. The total supply is 10M and right now there are aprox 25% COWs staked. The mcap is $430K. Current price: $0.045. Devs' wallet is locked and liquidity is locked. More detailed tokenomics: 1. COWs in the Stable produce MILK. Producing starts with 100,000 MILK per day and is reduced by 10% every week. MILK distribution starts after MILK token is deployed and is distributed based on the full history of COW stabling from the launch of the Stable. 2. If more than 50% of circulating COWs are in the Stable, the Bandits will not come for the COWs that day. 3. Unfortunately though, we are in the wild west, and every day there is a 20% chance that the Bandits come and steal between 1% and 100% of all COWboys MILK everyday. If the Bandits come, they rob every CowBOY for an equal %. 4. The Sheriff is always busy catching bandits, he captures 90% of the stolen MILK and puts it into the Sheriff's MILK pot, while the other 10% the bandits drink and it gets burned. 5. Smart COWboys can pay the Sheriff to put their MILK in the Sheriff's Vault for a 1% daily fee, which the Sheriff adds to the SHERIFF'S MILK pot. MILK in the Sheriff's vault is protected and can't be stolen by the bandits. 6. In order to encourage COWboys to keep MILKing their COWs, each day that the Sheriff is not busy with a robbery (no bandits in the city), there is a 10% chance he will distribute all of the Sheriffs MILK Pot to the COWboys holding MILK pro rata to their MILK, excluding MILK stored in the Sheriff's Vault. 7. Function to make a MILK rebase with Bandits & Sheriff's MILK Pot distribution is made public so that anyone in community can call it. It can't be called faster than once in 24 hours. ​ Contract address: 0xf0be50ED0620E0Ba60CA7FC968eD14762e0A5Dd3 Uniswap: [https://app.uniswap.org/#/swap?inputCurrency=0xf0be50ed0620e0ba60ca7fc968ed14762e0a5dd3](https://app.uniswap.org/#/swap?inputCurrency=0xf0be50ed0620e0ba60ca7fc968ed14762e0a5dd3) Etherscan: [https://etherscan.io/token/0xf0be50ED0620E0Ba60CA7FC968eD14762e0A5Dd3](https://etherscan.io/token/0xf0be50ED0620E0Ba60CA7FC968eD14762e0A5Dd3)

CryptoMoonShots

The original contract was broken, and almost half the supply of COW had to be burned because the "breed" function failed. MILK was an afterthought to try save the failed project. I got out after that massive F up. I wouldn't put my money in here. The devs can be the nicest guys ever if they want, but misleading people into buying your bags on this broken contract without being honest about how much the devs F'd it up is not genuine at all.

m978bh

Disproving claims published in CNBC using data on WSB discussion

Yesterday, CNBC and Market Watch published [articles](https://www.cnbc.com/2021/03/19/stimulus-checks-unlikely-to-spur-another-gamestop-mania-says-bofa.html) on research concluding that we shouldn't expect people to use stimulus money to buy GameStop stock. One of the main justifications they gave for this conclusion was that “the number of recent conversations \[on Reddit\] including both GME and stimulus is low.” As some of you know, I’ve been collecting data on WSB discussion for quite a while now, and can quantitatively show that to be false. I'll try to keep this brief, as I know attention spans here are short. Please don't hesitate to ask questions below, and [here's a longer write-up](https://www.reddit.com/user/pdwp90/comments/m8ogb0/the_stimmy_effect/) I did on the "stimmy effect" recently. To start with, here is a graph of the total number of comments in my data mentioning "stimulus" or "stimmy" over time: [Stimulus Comments](https://preview.redd.it/68304hkrr6o61.png?width=1730&format=png&auto=webp&s=89e506d66c60fcfdb2c7f615e53cf952fa4dd522) Here is a graph of the number of comments in my data that mention BOTH stimulus & GME over time: [WSB comments discussing stimulus & GME](https://preview.redd.it/f5ubk3hhq6o61.png?width=1730&format=png&auto=webp&s=c3b50e38cb0eafa490bcfeba1bda3b6e023409ce) The drop off at the end reflects the fact that it was 3:00pm as I am writing this and the day is only partially completed. One could argue that these numbers should be normalized based on the total of number of comments per day and, while I'd disagree, I'll include that graph below as well: [Normalized WSB comments discussing stimulus & GME](https://preview.redd.it/003y7k0mq6o61.png?width=1730&format=png&auto=webp&s=3b4b0762cf396708bdef53f795ce84ad7e0c4847) From both of these graphs I see no indication of the number of recent conversations including both GME and stimulus being low, as a matter of fact it has hit all time highs over the last few days Here's a chart of the top 5 days in which stimulus was mentioned the most in my data of WSB daily discussion. |**Day**|**Stimulus & GME mention count**| |:-|:-| |3/15/21|124| |3/14/21|103| |3/16/21|74| |3/13/21|69| |1/14/21|67| To take it a step further, we can look at what % of comments mentioning different stocks also mention stimulus, as I did recently in the graphic below. A larger proportion of comments mentioning $GME on WSB also mention stimulus than for any other major meme stocks, save for $TSLA. [Most-discussed stocks in 2021 w\/ \\"stimmy ratio\\"](https://preview.redd.it/d6gj9vj7r6o61.png?width=1072&format=png&auto=webp&s=6d7f1e3d99059a70494a08da9ea571f2832a2359) I don't know how the conclusion was reached that the number of recent conversations on reddit including GME and stimulus is low. Assuming that this is an honest mistake, I'd encourage BofA, Market Watch, CNBC, or any of the other parties involved to get better data. There are a lot of people out there who have started collecting data on WSB, but not many who do it well and with good intentions. I've been doing it for a while now, and I like to think I fit both those criteria which is why I feel qualified to write this post. Note: I don’t have stake in $GME and don’t actively trade a portfolio, in order to avoid perceptions of bias in my analysis. This is not financial advice, or a recommendation to buy or sell any stock.

wallstreetbets

Manufacturing consent. MSM is beholden to their corporate owners and their corporate clients. They just won't report stories that conflict with their objectives. "Journalists" will ignore compelling issues that may make the higher ups uncomfortable. MSM picks who are worthy and unworthy victims in society. A victim is considered worthy if addressing them furthers their cause (profit, power, influence). If coverage of a victim sheds bad light on the overlords, those victims are considered unworthy...Look at the concerned coverage of Plotkins claim of antisemitism vs the outrage over the reddit army.

tcpuzt

Earnings - keep your expectations in check.

No expectations whatsoever. This is not meant as FUD, quite the opposite. I don't want people thinking something will happen, have it not happen, and be unnecessarily disappointed. ------- I am reading a ton of comments/posts about the hype surrounding Thursdays earnings. Q4 earnings, RCs late father's bday, Dividend speculation, GMErica spinoff, Crypto dividend, NFT marketplace launch... UPDATED DRS NUMBERS (yes this isn't guaranteed, contrary to how I have seen people assume here) I have been holding since 2020, and have gone through this song and dance a number of times. CALM YOUR EXPECTATIONS. And specifically, that includes the company releasing DRS numbers. Do I hope they do it? You better fucking believe it. Would I be surprised if they chose not to? Nope not at all. I have not a single idea or reason why they wouldn't include the updated DRS numbers, so I don't think they would omit them, but again - I HAVE NO EXPECTATIONS FOR THEM TO DO SO. Anything outside of strict Revenue/EPS/etc is icing on the cake. I recommend you all attempt to do something similar so you're not disappointed if things aren't what you hope. Now with that being said - I hope all of the aforementioned "rumors' and speculation happen, and we go to the fucking moon. DRS and enjoy the weekend everyone.

Superstonk

If they don’t release the DRS count they should prepare to get hundreds of thousands of investor complaints. All of them politely demanding it be present in the next report. If we force their hand they can use that as an excuse to the SEC.

shjud2

Throwback to an OG Autist who under the radar amassed a $72B futures position and nearly took down Soc Gen

It’s not a normal – or low risk – trading practice to amass a securities position that’s nearly five times the total economic output of Cambodia… or 1.5 times the market capitalization of the major global bank you’re working for. It’s even less normal if the bank you’re working for has no clue about what you’re doing. Jerome Kerviel was a junior level derivatives trader earning US$66,000 per year at Societe Generale, one of Europe’s largest banks By January 9, 2008, he had amassed a stock index futures position of US$73 billion. The way he did so ended up costing Societe Generale (SocGen) US$7.2 billion – six times what Nick Leeson lost for Barings. Derivatives are investment instruments that derive their value from an underlying asset, like a stock, a market index, the price of oil and so forth. There are different kinds of derivatives like futures, options, forwards and swaps that track the underlying asset in different ways. Kerviel had dug himself a hole by buying 30 billion euros’ worth of Eurostoxx pan-European stock index futures contracts, 18 billion euros of Germany’s DAX futures and 2 billion euros of London’s FTSE futures. These contracts expired over the following 1 to 3 months. Futures are derivatives used to essentially bet on the future price of a stock index. Kerviel bought them in the hope these markets would go up over the following months. Kerviel’s job was to profit when two securities that should have the same price temporarily don’t have the same price – which is called arbitrage. The idea is to buy the cheaper security, sell the more expensive one, and then wait for their prices to converge. For example, if the stock price for Coca-Cola is trading at US$45 on the New York Stock Exchange, but the equivalent of US$44.90 on the London Stock Exchange, an arbitrage trader would be short Coca-Cola in New York (to profit when the price goes down), and buy it, or go long, in London (to profit when the price rises.) Then when the prices converge, with one going higher, the other lower, he makes money. Kerviel bought Euro stock market futures hoping they would go up. Normally, he would have offset these bets by, for instance, shorting U.S. stock index futures (to profit if markets go down). In this way, if European stocks suddenly fell, the short U.S. stock futures – which tend to move in the same direction as European stock futures – would make money, offsetting the loss. Because the price difference between similar securities may be small (in the Coca-Cola example, the 10- cent difference is an enormous spread for arbitrage traders), it’s normal for arbitrage traders to buy huge positions, and use leverage, or borrowed money, to make them even larger. That way they can make big profits even if the difference in price is tiny. However, in the months leading up to January 9, 2008, Kerviel had learned how to hack SocGen’s risk surveillance system and was only doing one half of the arbitrage trade. In other words, Kerviel had been taking, say, long positions and offsetting them with short positions that didn’t exist. By manipulating the bank’s software, he was making risky one-sided bets when his firm thought he was making lower-risk arbitrage trades. Kerviel reportedly made nearly US$2 billion in profits in 2007 by making these kinds of unauthorized trades. Astoundingly, it was later discovered by SocGen that the massive trade Kerviel entered in early January 2008 was actually an attempt by Kerviel to lose money. (It worked extremely well.) He believed the previous year’s US$2 billion in unauthorised bank profits was about to be discovered. He feared he might lose his job, and was trying to generate losses to mask his fraud. This may explain why Kerviel was betting on markets going higher, despite the fact that the subprime mortgage crisis was just beginning. Global markets were looking wobbly and astute traders were going short, or betting on markets going down – the opposite of what Kerviel was doing. The first indication that something was wrong at SocGen came in the afternoon of Friday January 18, when a compliance officer discovered that a trade had exceeded the bank’s risk threshold. When he checked with a brokerage that had supposedly executed an offsetting trade, he learned that no such trade existed. In the last hour of trading on January 18, the price of SocGen stock plunged 8 percent. News sources reported that speculation of impending huge write-downs at the bank was the cause of the decline. Apparently, word of Kerviel’s huge bet had leaked out. As the extent of the fraud became apparent to banking officials over that weekend, Kerviel was fired. However, bank executives still had to deal with the US$73 billion worth of long futures, which at that point had already lost the bank US$1.4 billion. Indications were that Monday’s stock market was going to experience more weakness – no doubt made worse by the rumors that SocGen was in trouble. Bank executives were faced with a choice: Let the unauthorised trades run their course and hope the stock market would eventually rally, or close the positions immediately to avoid losing even more money. After a difficult debate, with the future of the bank possibly at stake, bank officials decided to sell the positions as quickly as possible. FromJanuary 21 to 23, SocGen “unwound” the futures contracts purchased by Kerviel, selling them into the market. Selling US$73 billion worth of futures in that short period of time drove prices of the futures even lower – making the bank’s losses worse. When the last of the unauthorised positions was sold, and the dust had settled, Jerome Kerviel had lost SocGen US$7.2 billion, making him the worst rogue trader in history, at least in terms of money lost. Credit businessinsider article 2016

wallstreetbets

How can the dude make 2 billion excess profit, and no one noticed!? Even more impressive that he didn’t someone manage to let slip and get himself a raise. Should have quit while ahead. Imagine making 66k a year but making 2 billion trading for your employer.

t9djvo

Daily FI discussion thread - Tuesday, March 08, 2022

Please use this thread to have discussions which you don't feel warrant a new post to the sub. While the Rules for posting questions on the basics of personal finance/investing topics are relaxed a little bit here, the rules against memes/spam/self-promotion/excessive rudeness/politics still apply! Have a look at the [FAQ](https://www.reddit.com/r/financialindependence/wiki/faq) for this subreddit before posting to see if your question is frequently asked. Since this post does tend to get busy, consider sorting the comments by "new" (instead of "best" or "top") to see the newest posts.

financialindependence

Both my brothers just bought new 2022 F-150 and F-250s in the last month, I’m not a crazy car person but I definitely enjoy trucks, especially as many are turning into luxury vehicles at higher trim levels. Not gonna lie was pretty jealous and always in the back of my mind to get one but the trade off for the price is a big turn. Well I just went to get gas yesterday annnnnnnndddd yeah I’m not longer jealous.

xy4t10

Community Fireside Chat + New Post Flairs Temp Check

[ComputerShare Megathread](https://www.reddit.com/r/Superstonk/comments/xxh13d/drscomputershare_megathread_102022/?utm_source=share&utm_medium=ios_app&utm_name=iossmf) Hey all! It’s been too long since we had an open discussion about how you’re feeling about the state of the sub, the rules, the moderation, the post flairs, etc. We wanted to reserve a pinned spot this weekend for this community ‘fireside’ style chat. Please use this space to share feedback, criticisms, as well as any suggestions and ideas for how Superstonk can improve. What do you love? What do you hate? What’s lacking? What would you love to see? What’s needed to ensure this is a sub you want to keep spending time in? Here are some topics we'd love to hear your feedback on: ​ **Post Sources / Tweets** For Social Media and News posts, should tweets count as a source? Or should the source be required to be the actual news source? Should we be removing Twitter screenshots? Do you like to see them? ​ **Karma Limits** Fine as they are / Reduce / Increase *Current limits are: 1200 Karma + Account Age of 180 Days (Comments) / 4800 Karma + Account Age of 240 Days (Posts)* ​ r/all **Qvbot Comment** Should we keep or replace the r/all QVbot message that generates automatically when a post makes it to all? Here's the current message: Welcome everyone from [r/all](https://www.reddit.com/r/all/)! --> [Reasons why the Superstonk community is bullish on Gamestop](https://www.reddit.com/r/Superstonk/comments/vhe37m) POWER TO THE PLAYERS ⚫️⚫️⚫️⚫️🔴🔴🔴🔴 ​ # Post Flairs **We also have some new post flair suggestions we’d love your input on. These will only be implemented based on the feedback received in this post. Please let us know if you have other post flair suggestions, or if there are post flairs that we currently have that you don't find useful.** ​ **New Flair Option #1: Options Knowledge** Going to start with this one as this is the lengthiest of the bunch. So, one thing that’s been requested is an automatic warning / disclaimer anytime anyone someone posts about options. Right now, people can still post about options, but if they do, there’s no explicit warning being given automatically. To be able to do this, we would need an options flair. With the options flair though, would come very strict criteria - here’s what we are proposing would be the automatic comment for the flair detailing the criteria for the post to remain up. This would be the automatic pinned comment anytime someone used the Options Knowledge flair: >*I see you posted an options education post; this post must adhere to the following criteria:* > >**Must be education focused.** > >*Examples of appropriate topics include:* > >How an option trade works > >How max pain works > >How the Greeks work > >How an option is hedged by market makers > >*The following subjects are some examples of what will be considered grey areas and may be removed at a moderator’s discretion:* > >Opex > >Gamma Ramps > >Option Open Interest (O/I) > >Delta Neutral TA > >**Options posts about personal trades as well as posts recommending specific plays with strikes / expirations are strictly prohibited and will be removed.** ​ **New Flair Option #2: Marketplace** This flair would be used for all posts relating to the GameStop marketplace & wallet. News posts, tweets, purchases, sharing NFT art ​ **New Flair Option #3: Data** This flair would be for all our data tracking apes (Bloomberg Terminals, RRP updates, Stonk-O-Tracker, Short Interest, Borrowing Fees, etc ) ​ **New Flair Option #4: Macroeconomics** This flair would be used for posts relating to large-scale or general economic factors, such as interest rates. Macroeconomics is a branch of economics that studies how an overall economy—the markets, businesses, consumers, and governments—behave. Macroeconomics examines economy-wide phenomena such as inflation, price levels, rate of economic growth, national income, gross domestic product (GDP), and changes in unemployment. ​ **Please let us know how you feel about these flair suggestions. Your input will be what moves them forward (or sends them to the upside down). If any or all are moved forward, we will do our best to implement them right away.** ​ # Thank you Thank you for taking the time to contribute to this post to help improve Superstonk, but mostly thank you for being here. The community that has been built here is nothing short of amazing. It really is such a privilege to be able to moderate each day here. The entire mod team is going to read alllll of the feedback, ideas, and suggestions you have. Your opinion matters and is extremely valued. **Lurkers**, please don’t worry! If you don’t have the karma to comment, we will manually approve your comments. You may not be able to contribute quite yet, but you are still valued, and we are really grateful you still come here even if you can’t yet comment. We will also do our best to answer any questions you may have in this post - ask away!

Superstonk

I’m down for all the new flair, we certainly have enough posts in data and MacEco to warrant them. I’m iffy about twitter posts. Some offer relevant news, but a lot are just personal speculation and stuff barely even related to MacEco. Kind of like the new post rules, if it isn’t that pertinent then it can be a comment, it doesn’t need its own post. People can also just follow stuff on twitter themselves if they’re interested. Superstonk doesn’t need to spoon feed the stuff. edit: [This is the perfect example](https://www.reddit.com/r/Superstonk/comments/xxu3d8/european_central_bank_concerned_about_wave_of/?utm_source=share&utm_medium=ios_app&utm_name=iossmf) (sry my ape friend, no hard feelings) Instead of quoting bloomberg (bc who cares what he thinks), how about a link to the actual article he’s talking about and flair it as “news”

xy4t10

Community Fireside Chat + New Post Flairs Temp Check

[ComputerShare Megathread](https://www.reddit.com/r/Superstonk/comments/xxh13d/drscomputershare_megathread_102022/?utm_source=share&utm_medium=ios_app&utm_name=iossmf) Hey all! It’s been too long since we had an open discussion about how you’re feeling about the state of the sub, the rules, the moderation, the post flairs, etc. We wanted to reserve a pinned spot this weekend for this community ‘fireside’ style chat. Please use this space to share feedback, criticisms, as well as any suggestions and ideas for how Superstonk can improve. What do you love? What do you hate? What’s lacking? What would you love to see? What’s needed to ensure this is a sub you want to keep spending time in? Here are some topics we'd love to hear your feedback on: ​ **Post Sources / Tweets** For Social Media and News posts, should tweets count as a source? Or should the source be required to be the actual news source? Should we be removing Twitter screenshots? Do you like to see them? ​ **Karma Limits** Fine as they are / Reduce / Increase *Current limits are: 1200 Karma + Account Age of 180 Days (Comments) / 4800 Karma + Account Age of 240 Days (Posts)* ​ r/all **Qvbot Comment** Should we keep or replace the r/all QVbot message that generates automatically when a post makes it to all? Here's the current message: Welcome everyone from [r/all](https://www.reddit.com/r/all/)! --> [Reasons why the Superstonk community is bullish on Gamestop](https://www.reddit.com/r/Superstonk/comments/vhe37m) POWER TO THE PLAYERS ⚫️⚫️⚫️⚫️🔴🔴🔴🔴 ​ # Post Flairs **We also have some new post flair suggestions we’d love your input on. These will only be implemented based on the feedback received in this post. Please let us know if you have other post flair suggestions, or if there are post flairs that we currently have that you don't find useful.** ​ **New Flair Option #1: Options Knowledge** Going to start with this one as this is the lengthiest of the bunch. So, one thing that’s been requested is an automatic warning / disclaimer anytime anyone someone posts about options. Right now, people can still post about options, but if they do, there’s no explicit warning being given automatically. To be able to do this, we would need an options flair. With the options flair though, would come very strict criteria - here’s what we are proposing would be the automatic comment for the flair detailing the criteria for the post to remain up. This would be the automatic pinned comment anytime someone used the Options Knowledge flair: >*I see you posted an options education post; this post must adhere to the following criteria:* > >**Must be education focused.** > >*Examples of appropriate topics include:* > >How an option trade works > >How max pain works > >How the Greeks work > >How an option is hedged by market makers > >*The following subjects are some examples of what will be considered grey areas and may be removed at a moderator’s discretion:* > >Opex > >Gamma Ramps > >Option Open Interest (O/I) > >Delta Neutral TA > >**Options posts about personal trades as well as posts recommending specific plays with strikes / expirations are strictly prohibited and will be removed.** ​ **New Flair Option #2: Marketplace** This flair would be used for all posts relating to the GameStop marketplace & wallet. News posts, tweets, purchases, sharing NFT art ​ **New Flair Option #3: Data** This flair would be for all our data tracking apes (Bloomberg Terminals, RRP updates, Stonk-O-Tracker, Short Interest, Borrowing Fees, etc ) ​ **New Flair Option #4: Macroeconomics** This flair would be used for posts relating to large-scale or general economic factors, such as interest rates. Macroeconomics is a branch of economics that studies how an overall economy—the markets, businesses, consumers, and governments—behave. Macroeconomics examines economy-wide phenomena such as inflation, price levels, rate of economic growth, national income, gross domestic product (GDP), and changes in unemployment. ​ **Please let us know how you feel about these flair suggestions. Your input will be what moves them forward (or sends them to the upside down). If any or all are moved forward, we will do our best to implement them right away.** ​ # Thank you Thank you for taking the time to contribute to this post to help improve Superstonk, but mostly thank you for being here. The community that has been built here is nothing short of amazing. It really is such a privilege to be able to moderate each day here. The entire mod team is going to read alllll of the feedback, ideas, and suggestions you have. Your opinion matters and is extremely valued. **Lurkers**, please don’t worry! If you don’t have the karma to comment, we will manually approve your comments. You may not be able to contribute quite yet, but you are still valued, and we are really grateful you still come here even if you can’t yet comment. We will also do our best to answer any questions you may have in this post - ask away!

Superstonk

My feedback might not be popular, but I feel like we should find some ways to encourage some good vibes and reinforce the community aspect of this. Especially with the board going silent, the state of literally everything in the world, etc things have been a little down in general for people to react to and the expensive artificial noise is shining through louder now because things are genuinely zen from an investment standpoint but also in chatting. I don’t know what it could be, but Place was such a fortifying experience and it reminded me how many of us ARE real people. It’s just a bunch of real people with little to talk about. I’m stoned, but you feel me? We need to be the shining light of love and hope for the better future now, or something 😘

rzbhpp

Never selling

I wonder how many Bitcoiners, like me, are truly never selling (in any materially relevant way)? Genuinely? How many people here are in it for their grandkids for example? I feel a little intense and crazy when I think that way but that’s just the truth

Bitcoin

You never “sell” your savings account, you spend it. That’s how I look at Bitcoin. It’s a savings account. When I find something I want, like property or another appreciating asset, I’ll spend my Bitcoin. Over time you’re savings should outpace your spending by a significant margin. You never ever “sell” all of it, but be reasonable, it’s OK to spend your savings.

ramu9j

[The Final Boss] The People behind the Federal Reserve are The Final Boss! They are also the People whose money is going to be Part of The Greatest Transfer of Wealth in History!!!

Context: Lots of posts talking about who is the Final Boss Everyone beating around the bush - perhaps because they are too smart to mention The Final Boss by their names I'm too smooth brained to give a @##$ ********************************************************************************************************** Step 1: All the power is with who controls the money supply Step 2: For the world the US through PetroDollar controls the money supply Anyone who doesn't agree, gets wiped out See: Iran, Iraq, Syria, Venezuela, etc **************************************************************** Step 3: For the US, the Federal Reserve controls the money supply ****************************************************************** Step 4: Therefore, whoever controls the Federal Reserve controls the money supply ******************************************************************************************************** Step 5: The Great Reveal The list of founding members of the Federal Reserve (initial members on the Board of the Federal Reserve) The MAIN POWER is wielded through the Fed Reserve. It is not run by elected officials No one even knows exactly who is the power behind the Fed Reserve This is who the founding members were -> https://imgur.com/a/teB889B thanks to https://old.reddit.com/user/Additional-Ad5055 for sharing this. Please give him karma **************************************************************************************** Details for Step 5 (The Great Reveal) Formation of Fed -> The two principal Rothschild representatives in New York, J. P. Morgan Co., and Kuhn, Loeb & Co. were the firms which set up the Jekyll Island Conference at which the Federal Reserve Act was drafted, who directed the subsequent successful campaign to have the plan enacted into law by Congress, and who purchased the controlling amounts of stock in the Federal Reserve Bank of New York in 1914. Screenshot -> https://imgur.com/a/teB889B List -> 1) Nathan Rothschild https://en.wikipedia.org/wiki/Nathan_Mayer_Rothschild 2) J Henry Schroeder https://en.wikipedia.org/wiki/Schroders 3) Morgan Grenfell 4) Brown Shipley 5) Lord Airlie 6) Kuhn Loeb Solomon Loeb https://en.wikipedia.org/wiki/Solomon_Loeb Nina Loeb Theresa Loeb 7) Jacob Schiff Mortimer Schiff John Schiff 8) Paul Warburg https://en.wikipedia.org/wiki/Paul_Warburg MM Warburg James P. Warburg 9) Emanuel Lehman https://en.wikipedia.org/wiki/Emanuel_Lehman Phillip Lehman Herbert Lehman Robert Lehman Arthur Lehman 10) National City Bank 11) Chase National 12) JP Morgan https://en.wikipedia.org/wiki/J._P._Morgan Montague Norman 13) Morgan Stanley 14) Drexl Company 15) Lehman Stern 16) Thomas F Ryan 17) Bank of Commerce 18) Alex Brown & Sons 19) Bank of England 20) Lazard Bros https://en.wikipedia.org/wiki/Lazard 21) Schroeder Bank 22) BB Harriman 23) Guaranty Company 24) Lehman Bros 25) Abraham Kuhn 26) Federal Reserve NY 27) Hannover Bank 28) Morgan Paris *************************************************************** This information is from the 1976 House Banking Committee Staff Report -> Federal Reserve - A Study of Corporate and Bank Influence Here: https://fraser.stlouisfed.org/title/federal-reserve-directors-a-study-corporate-banking-influence-1058 If you prefer Scribd -> https://www.scribd.com/document/46627723/Federal-Reserve-Directors-A-Study-of-Corporate-and-Banking-Influence-Staff-Report-Committee-on-Banking-Currency-and-Housing-House-of-Representative ****************************************************** It has a TON of other gems such as 1) Federal Reserve Bank of New York had David Rockefeller as a Class A Director ******************************* Please do your own research ************************************************************************** The Greatest Transfer of Wealth in History is not going to be Easy Because THAT WEALTH LIES WITH THE FINAL BOSS The Short Hedge Funds and Short Family Offices were growing The Wealth of The Final boss using these illegal shorting methods and Infinite Money Glitch They made their 20% cut of profits. However, the remaining 80% WENT TO SOMEONE ELSE Guess who? The Final Boss controls the Federal Reserve (the money printing press) and a lot of other things *****************************************************************

Superstonk

There’s a book called “The Creature from Jekyl Island” don’t remember the author but it details how the Fed Reserve legislation was crafted and then passed in the middle of the night. The Fed is the biggest fraud of all time.

ikpqtx

Walmart VS Amazon, the next big online retailer (Walmart DD). Why my money is on Walmart

**Walmart Due Dilligence** **PARTNERSHIPS** \- Partnership with Instacart Recently Walmart and Instacart have founded a partnership that will allow Walmart to use Instacart their same-day shipping service. \[Walmart and Instacart together make up for nearly 50% of the online grocery sales.\]( [https://secondmeasure.com/wp-content/uploads/2019/08/GroceryDelivery-chart2png-1024x631.png](https://secondmeasure.com/wp-content/uploads/2019/08/GroceryDelivery-chart2png-1024x631.png)) Walmart’s vast inventory and Instacart their network and experience will only strengthen their position as the dominant grocery delivery providers, and thus putting more pressure on Amazon. \- Partnership with Shopify In addition to Instacart Walmart has also partnered with Shopify. This new partnership will allow third-party sellers to directly sell their item’s on the Walmart marketplace. This new partnership will greatly expand Walmart’s inventory while giving small businesses the opportunity to reach a bigger demographic. Walmart is expecting to add 1200 Shopify sellers in 2020. Listing an item on Walmart’s marketplace allows Walmart to pick up some fees and generate greater traffic to the website. Another interesting possibility to consider is the fact that Walmart could be used as a Shopify returns hub, with a Walmart being within 10 miles of 90% of the US population it is the ideal candidate for further strengthening their relation with Shopify and saving both parties a lot of money. \- Partnership with ThredUp Walmart has also partnered with Thredup. ThredUp is basically an online thrift shop for clothes and wearable’s. This brilliant partnership means Walmart can now offer both normal and high-end clothing on their marketplace for an affordable price and expose customers to nearly 750,000 pre-owned items. Who would’ve ever thought you could tell someone that you bought your Michael Kors or Calvin Klein at Walmart. \- Google Walmart has been partners with Google for over 3 years now. This partnership allowed Walmart to enter the domain of voice ordering groceries. Simply ask one of your Google devices to buy milk and it will add milk to your Shopping cart. This Partnership might just be the beginning of a strong bond between Google and Walmart as both companies are interested in competing with Amazon. \- Microsoft (+ Possible TikTok acquisition) Walmart has been partnered with Microsoft for about 2 years with 3 more years to go. Since the partnership Walmart has been using the full range of Microsoft cloud solutions in a bid to accelerate their digital transformation, innovation and efficiency. **Acquisitions** \- Bonobos, ModCloth, ShoeBuy, Moosejaw, Parcel Let’s start at the beginning, with these acquisitions Walmart stated entering the e-commerce market in 2016-2017. Sadly as is known none of these are particularly success stories with the companies being sold again, being discontinued or CEO’s leaving. However Walmart learned a lot from these companies and has used this knowledge to further try to expand in the e-commerce market. \- Jet.com The first big step in the fight against Amazon. When amazon acquired Jet.com it was a clear signal of what its intentions were. Jet.com was one of the fastest growing U.S. e-commerce companies and Walmart acquired them in September 2016. Since then a lot has happened, Jet.com has been discontinued but the knowledge, progress and technology gained due to Jet.com is irreplaceable and has given Walmart a brilliant boost into the e-commerce with their e-commerce sales increasing 29%. Furthermore (ex)CEO of jet.com Marc Lore is now the CEO of Walmart’s e-commerce. \- Flipkart Ever heard of the small startup company called Flipkart? Maybe you have not, you should though. Flipkart owns 35% of the Indian e-commerce market, a true giant. Walmart acquired Flipkart in 2018 and ever since then it has been expanding its influence in India and fighting against Amazon for market dominance. This year Flipkart took over Walmart’s 28 Indian stores in order to expand its wholesale growth. Another interesting thing is that Walmart might make Flipkart public within the next 3 years. \- TikTok acquisition Some very recent news of their Partnership with Microsoft is to potentially acquire TikTok. TikTok’s enormous userbase and the current pressure in the US and India have made for an interesting situation causing the partnership to push forward in the bid to acquiring TikTok. In my opinion Walmart has a very decent chance of getting TikTok and making it work. One factor that plays a big role in this is Walmart’s presence in India due to Flipkart. Flipkart is India’s biggest online store for; phones, electronics, books, home appliances, etc. With Walmart having a presence in both countries where TikTok is (going to be) banned might mean some positive things for the future, but for now that is speculation. The acquisition of TikTok would allow Walmart to use its genius algorithm and massive userbase to further promote and integrate its Walmart marketplace. **Walmart PLUS** Word is finally out, in September Walmart will be launching its Amazon competitor called Walmart plus. It will give numerous benefits to the user such as; Unlimited free delivery(with 2700 stores having same day delivery), fuel discounts and scan&go a tool to make shopping faster, all for the price of $98 per year **2 Hour Delivery** Walmart recently launches its new delivery service, called Express Delivery. This new service will allow customers to place their order online and receive their groceries (for a 10$ fee) within 2 hours. Walmart express delivery is currently available in 800 stores with plans to expand to 2000 stores. In addition to 2 hour delivery Walmart also offers same-day delivery in almost the entire United States. **5000+ US stores.** This is Walmart’s biggest weapon. The thing Amazon lacks the most is physical stores. Walmart has over 5000 stores while Amazon has just over 600 (worldwide!). If Walmart can find a way to combine e-commerce with its enormous physical presence then it could give Amazon an absolute run for its money. Remember that 90% of Americans live within 10 miles of a Walmart. **Some other interesting facts to consider.** \- 90% of US population live within 10miles of a Walmart. \- Walmart’s e-commerce sales are currently up 97% \- Walmart’s expansion in Africa, India, China. ​ **Conclusion/TLDR** Let me first state with you that this has been my first Due Dilligence and that English is not my first language. Walmart is currently the underdog, and not many people are expecting them to properly fight Amazon. However its recent spree of partnerships and acquisitions have been a brilliant and very clear move in the direction of e-commerce. If Walmart fully utilized its massive physical network together when their growing fresh e-commerce, I see no other outcome then for Walmart to grow, grow, grow. Covid has given Walmart customers the push they needed to fully explore Walmart their marketplace, the marketplace that is now starting to fill up with thousands of sellers and endless products. Walmart VS Amazon, here we go, my money is on Walmart. Sources: Instacart: [https://secondmeasure.com/wp-content/uploads/2019/08/GroceryDelivery-chart2png-1024x631.png](https://secondmeasure.com/wp-content/uploads/2019/08/GroceryDelivery-chart2png-1024x631.png) [https://www.forbes.com/sites/walterloeb/2020/08/12/walmart-teams-up-with-instacart-to-rival-amazons-fast-grocery-delivery/#3bde97546010](https://www.forbes.com/sites/walterloeb/2020/08/12/walmart-teams-up-with-instacart-to-rival-amazons-fast-grocery-delivery/#3bde97546010) [https://www.theverge.com/2020/8/11/21363507/walmart-instacart-partnership-same-day-grocery-delivery-amazon-whole-foods-rivalry](https://www.theverge.com/2020/8/11/21363507/walmart-instacart-partnership-same-day-grocery-delivery-amazon-whole-foods-rivalry) Shopify: [https://corporate.walmart.com/newsroom/2020/06/15/walmart-expands-its-ecommerce-marketplace-to-more-small-businesses](https://corporate.walmart.com/newsroom/2020/06/15/walmart-expands-its-ecommerce-marketplace-to-more-small-businesses) [https://techcrunch.com/2020/06/15/walmart-partners-with-shopify-to-expand-its-online-marketplace/](https://techcrunch.com/2020/06/15/walmart-partners-with-shopify-to-expand-its-online-marketplace/) [https://www.forbes.com/sites/christopherwalton/2020/06/15/walmarts-new-shopify-partnership-is-another-stroke-of-digital-genius/#26a4e18e3025](https://www.forbes.com/sites/christopherwalton/2020/06/15/walmarts-new-shopify-partnership-is-another-stroke-of-digital-genius/#26a4e18e3025) ThredUp [https://www.forbes.com/sites/christopherwalton/2020/06/05/walmarts-thredup-partnership-is-the-best-digital-move-walmart-has-made-in-the-last-3-years/#265d62952172](https://www.forbes.com/sites/christopherwalton/2020/06/05/walmarts-thredup-partnership-is-the-best-digital-move-walmart-has-made-in-the-last-3-years/#265d62952172) [https://www.walmart.com/browse/clothing/thredup-shop-all/5438\_6272369\_7404214](https://www.walmart.com/browse/clothing/thredup-shop-all/5438_6272369_7404214) Google: [https://techcrunch.com/2019/04/02/walmart-partners-with-google-on-voice-enabled-grocery-shopping/](https://techcrunch.com/2019/04/02/walmart-partners-with-google-on-voice-enabled-grocery-shopping/) [https://techcrunch.com/2017/08/22/walmart-and-google-partner-on-voice-based-shopping/](https://techcrunch.com/2017/08/22/walmart-and-google-partner-on-voice-based-shopping/) Microsoft + TikTok [https://techcrunch.com/2017/08/22/walmart-and-google-partner-on-voice-based-shopping/](https://techcrunch.com/2017/08/22/walmart-and-google-partner-on-voice-based-shopping/) [https://news.microsoft.com/2018/07/16/walmart-establishes-strategic-partnership-with-microsoft-to-further-accelerate-digital-innovation-in-retail/](https://news.microsoft.com/2018/07/16/walmart-establishes-strategic-partnership-with-microsoft-to-further-accelerate-digital-innovation-in-retail/) [https://edition.cnn.com/2020/08/28/tech/walmart-tiktok-bid-hnk-intl/index.html](https://edition.cnn.com/2020/08/28/tech/walmart-tiktok-bid-hnk-intl/index.html) Bonobos, ModCloth, ShoeBuy, Moosejaw, Parcel [https://www.investopedia.com/articles/markets/102315/top-4-companies-owned-walmart.asp](https://www.investopedia.com/articles/markets/102315/top-4-companies-owned-walmart.asp) Jet.com [https://www.cnbc.com/2020/05/20/walmart-ceo-on-buying-jetcom-we-would-do-that-all-over-again.html](https://www.cnbc.com/2020/05/20/walmart-ceo-on-buying-jetcom-we-would-do-that-all-over-again.html) [https://www.fool.com/investing/2020/05/20/jetcom-may-be-history-but-walmart-got-what-it-need.aspx](https://www.fool.com/investing/2020/05/20/jetcom-may-be-history-but-walmart-got-what-it-need.aspx) Flipkart [https://economictimes.indiatimes.com/small-biz/startups/newsbuzz/flipkart-to-acquire-walmart-indias-wholesale-business/articleshow/77122766.cms](https://economictimes.indiatimes.com/small-biz/startups/newsbuzz/flipkart-to-acquire-walmart-indias-wholesale-business/articleshow/77122766.cms) [https://www.spglobal.com/marketintelligence/en/news-insights/latest-news-headlines/flipkart-is-no-1-in-india-but-faces-formidable-foe-in-amazon-say-experts-54083920](https://www.spglobal.com/marketintelligence/en/news-insights/latest-news-headlines/flipkart-is-no-1-in-india-but-faces-formidable-foe-in-amazon-say-experts-54083920) [https://corporate.walmart.com/newsroom/2020/07/23/walmarts-majority-owned-flipkart-launches-wholesale-business-to-help-small-businesses-in-india-source-directly-from-manufacturers-and-producers](https://corporate.walmart.com/newsroom/2020/07/23/walmarts-majority-owned-flipkart-launches-wholesale-business-to-help-small-businesses-in-india-source-directly-from-manufacturers-and-producers) [https://www.livemint.com/companies/news/will-flipkart-ipo-set-the-ball-rolling-for-indian-unicorns-1561489450378.html](https://www.livemint.com/companies/news/will-flipkart-ipo-set-the-ball-rolling-for-indian-unicorns-1561489450378.html) Walmart PLUS [https://www.tomsguide.com/news/walmart-plus-price-launch-date-and-everything-you-need-to-know](https://www.tomsguide.com/news/walmart-plus-price-launch-date-and-everything-you-need-to-know) [https://corporate.walmart.com/newsroom/2020/09/01/walmart-introduces-walmart](https://corporate.walmart.com/newsroom/2020/09/01/walmart-introduces-walmart) 2 hour delivery [https://www.theverge.com/2020/4/30/21243557/walmart-express-delivery-two-hour-groceries-electronics#:\~:text=Walmart%20is%20launching%20a%20new,during%20the%20COVID%2D19%20pandemic](https://www.theverge.com/2020/4/30/21243557/walmart-express-delivery-two-hour-groceries-electronics#:~:text=Walmart%20is%20launching%20a%20new,during%20the%20COVID%2D19%20pandemic). [https://www.roadie.com/resources/press-releases/walmart-grocery-delivery](https://www.roadie.com/resources/press-releases/walmart-grocery-delivery) [https://corporate.walmart.com/newsroom/2020/05/12/the-why-and-how-behind-walmart-express-delivery?irgwc=1&sourceid=imp\_0iY1nOXZ4xyOUzQwUx0Mo3EHUkiVmiRxgxJy140&veh=aff&wmlspartner=imp\_1943169&clickid=0iY1nOXZ4xyOUzQwUx0Mo3EHUkiVmiRxgxJy140&sharedid](https://corporate.walmart.com/newsroom/2020/05/12/the-why-and-how-behind-walmart-express-delivery?irgwc=1&sourceid=imp_0iY1nOXZ4xyOUzQwUx0Mo3EHUkiVmiRxgxJy140&veh=aff&wmlspartner=imp_1943169&clickid=0iY1nOXZ4xyOUzQwUx0Mo3EHUkiVmiRxgxJy140&sharedid)=

stocks

Let’s show OP some respect here everyone is snarky in the comments saying AMZN will obviously dominate, let’s appreciate OP for the great in depth post and making an argument that WMT will give AMZN more competition than people expect, not that they will surpass them.

8pb5at

First time investing in ETF's, thoughts on this portfolio.

Hi everyone, This is actually my first time posting in reddit, hope some of you can give me inputs on this portfolio I developed after a couple of weeks of research. A bit of background about myself: I am an engineering student graduating next year, and decided to do something with my money sitting in my checking account. I was planning on opening up a TFSA and maxing it out (5500$) every year. My portfolio would consist of Vanguard ETF's traded on the TSX. The distribution I was looking at was 60% VFV, 30% VCN, and 10% VRE to be as diverse as possible, while limiting myself to 3 ETF's. Any inputs would be helpful!

CanadianInvestor

Model ETF portfolio by Canadian Couch Potato. [http://canadiancouchpotato.com/wp\-content/uploads/2018/01/CCP\-Model\-Portfolios\-ETFs\-2017.pdf](http://canadiancouchpotato.com/wp-content/uploads/2018/01/CCP-Model-Portfolios-ETFs-2017.pdf) Open an account with Questrade who does not charge commissions on buying ETFs and charges less than $5 for selling ETFs.

ml8f6n

Why do I never see anyone talking about DFN.TO?

How come no one ever talks about DFN.To? The dividend of $0.1/share is paid monthly and at today’s purchase price o $7.82 the annual dividend is 15.35%. If you invested $10,000 today you would receive $127.80 a month in dividends. Am I missing something here?

CanadianInvestor

I did a writeup on in a while back. Like others mentioned, there is a time and place for buying this kind of stock -- and it's when the market obliterates and you can grab it on the cheap, likely at that point they've stopped payouts but you can grab way more shares for your dollar. If you bought in March-May 2020 you would have done well as an overall total return in the short term. I used to think like you (re: high dividend payout = good results over a few years compounded). The problem is the share price goes nowhere if you buy it any other time than crashes, the share price trends down/flat over time. So while you're \*likely\* to get your payout, there is zero share appreciation (other than buying on extreme dips). Would you rather have a high % cash payout every month (not guaranteed), or put that same 10k in a company that maybe pays nominal/no dividends but grows 15-20%+ per year in value?

a7gwyc

Why is Brookfield Infrastructure selling off so hard?

It looks like BIP just made a new 52-week low on no news. Does anyone know whats going on here? I bought it last January at $54 and I'm dripping it, but have never seen green on this stock for more than maybe a day. Starting to wonder if I'm the greater fool for buying at the near-top.

CanadianInvestor

What was your rationale for buying it? If that still holds then keep it. If it doesn't then sell. The TSX is down 10 percent this year and this is down 15. On price action alone I'm not seeing anything surprising.

mo4mkw

Any good cannabis investments?

Does anyone think there is any good cannabis stocks to invest in, or is it better to wait until the US market totally opens up and Canadian cannabis can have legal access to the US market?

CanadianInvestor

Try buying a bit into an MJ ETF; if youre confident that the markets will open up. Mitigate the risk of choosing a single company. I chose HMMJ.TO & now I’m up ~80%. I expect this to be a long term holding for me.

xrdl7s

What are your top 5 holdings?

Just curious to see how other folks are managing their portfolio these days. For those of you that have a portfolio over 50k, what are your top 5 holdings. Here are mine: * **XEI** \- *Cdn Dividend ETF* \- **13%** of my total portfolio * **DGR** \- *US Dividend ETF* \- **10%** * **MFC** \- *Manulife* \- **10%** * **AQN** \- *Algonquin* \- **9%** * **ZWP** \- *Europe Dividend ETF* \- **9%**

CanadianInvestor

- VFV - 40% Vangaurd S&P 500 ETF - Brookfield And subsidiaries (BAM.A, BEP-UN, BIP-UN) - 20% - HXQ 10% Horizons Nasdaq 100 ETF - XIC 10% iShares Canadian Composite - HCAL/ZEB 10% Canadian Banks - CN/CPR 10% Canadian Railways

7qkhju

Cineplex Inc. (CGX.TO) is almost 40% down since last summer.

If you look at 5 years graph, it usually has a positive growth on Jully. I think it worth monitoring a probably a buy around April base on historical data. I have no idea why it was overvalued so much last year and what has caused the down trend.

CanadianInvestor

Don't buy just because it looks its down. There is a reason its down. We are in a great economy yet movie revenue is down last year despite blockbuster movies like Star Wars and Justice League. In the last few years ticket sales have increased year over year despite attendance declining. This is due to ticket sales have gone up but last year, even with increases, the total revenue was down, looks really bleak for the future if in one of the best years economically, that your business is declining.

uo2kt6

Young and new to investing. Question about all the red right now.

I won't get into much details but I'm invested in a scotiabank balanced growth portfolio. It's in my TFSA and I'm down about 13% right now from where I started. This is my first time investing and I'm very new but I haven't seen a profit in the year since I've started. I'm starting to wonder if I should cut my losses and get out. This money is not easily recovered for me.

CanadianInvestor

Down 13% in current market conditions isnt the worst. If you don't need the money anytime soon and it is invested in a balanced portfolio, it might be a good idea to just sit and wait. If you sell now, you will turn that 13% unrealized loss into a realized loss. Whereas if you wait it could regain its value over time. That said, it'll likely get somewhat worse over the short to medium term before it starts to get better. To each their own.

an4r9k

Should I max out my TFSA as soon as possible?

I’m in my early 20’s with no debt and minimal expenses (living with parents and pay for gas once a month). I have a full time job paying $60k and about $40k in savings. I have a Cdn Couch Potato ETF portfolio with $10k of assets in a TFSA on Questrade. I have around $30k of TFSA contribution room available. Should I aim to max out my TFSA as soon as possible to take advantage of compounding?

CanadianInvestor

In short, yes. ​ There are a few articles out there which stipulates, at lower incomes, it's best to max out your TFSA first. As for me, it took me a while to get serious about investing. When I did start a few years back, however, I made it a mission of mine to max out my TFSA (which I did last year). It's great for me because, going forward, I only have to add 6k at the start of the year then add money into my RRSP/taxable account for the rest of the year. ​ Cheers, and it's great to see you investing/saving so early!

ic1qmx

TFSA and RRSP are Capped, Now What?

I am pretty young 26 y/o, and I have managed to max out my TFSA and RRSP, how should my investment strategy change now for the taxable accounts? Current holdings: ZAG: 20% XAW: 35% VCN: 20% TEC: 15% REI.UN: 10%

CanadianInvestor

I'm the same age and approaching the same stage. I know Canadian dividend tax credits and very beneficial in non registered accounts so I was thinking of selling off some dividend stuff from my tsfa and moving it into my cash account. Other than that idk what the plan is, will follow this if it gets some traction

m014iz

Which Canadian Dividend Growth Stock are you buying?

As the title says which Canadian dividend growth stock are you buying? I'm going to be putting another $1500 into the market in the next 1-2 weeks and initially I had it ear marked for ARKs upcoming space etf ARKX but after the recent market correction I am looking to buy something safer. I have been thinking about putting some money into Enbridge, Fortis or Scotiabank but wanted to see what everyone else has been picking up as a safe long-term dividend growth play. Thanks!

CanadianInvestor

You should probably just consider a nice, safe and cozy dividend ETF 🥰 Some popular examples include: XEI:https://www.blackrock.com/ca/investors/en/products/239846/ishares-sptsx-equity-income-index-etf CDZ:https://www.blackrock.com/ca/investors/en/products/239834/ishares-sptsx-canadian-dividend-aristocrats-index-fund XDIV:https://www.blackrock.com/ca/investors/en/products/287823/ishares-core-msci-canadian-quality-dividend-index-etf As of late my personal preference is CDZ. Despite its higher MER, it has a very balanced mix of sectors - the other two lean a little *too* heavily into financials.

phha1i

Bankruptcy & Delisted Tickers

I am not a lawyer. This is not financial advice. There are key details I am glossing over, and you should seek professional legal advice when dealing with this subject matter. I’m just trying to help people put the big picture together. If you enjoy this topic, there is a *wealth* of information available for you to enjoy. If you have questions about this post, we had a [previous thread here](https://www.reddit.com/r/Superstonk/comments/pgvdqe/my_2_day_old_response_to_criand_about_a/hbeeiib/) that may have already answered your questions. Bunch of smart apes in this amazing community. TL;DR - Thee are lots of types of Bankruptcy, but the Firesale Bankruptcy is: 1. Holding Companies will hold bankrupt companies’ assets 2. Shares are listed under the Holding Company’s ticker 3. Shareholders are paid last, if there are remaining assets 4. Shareholder Payout Per Share = ( Assets - Debt ) / Outstanding Shares Hi apes, There’s a lot of hubbub going on abut the Delisted Tickers, their connection to GME, and nobody really seems to understand the key fundamentals about Bankruptcy. So let’s talk about bankruptcy. There are two broad categories of bankruptcy - personal and business. You, as an individual, may file for bankruptcy. It has severe implications, and it does not discharge all debt. For example, some medical debts and some student loan debts may not be discharged, although, there was a landmark case years ago about discharging student loan debt. Sadly, if you have cause to consider bankruptcy, you really should hire a lawyer, but that takes money. Quite the Catch-22, neh? Business bankruptcy is formally known as Corporate Bankruptcy, because businesses are *incorporated* in a given state. IE, I open a business, fill out the relevant paperwork with my Agent (usually a lawyer, but doesn’t have to be), and there’s a whooooole bunch of stuff involved. All that happens in a state (State of Incorporation), and you can pick your state or you can pick Delaware or somewhere else more favorable for legal and tax reasons. There are also a slew of business types to choose from that give you different pros and cons. Some types are restricted to how many employees you have, stock options, if you do international business, etc, etc, etc. But all businesses can go under, and when that happens, they file for one of many types of bankruptcy. There are different types of bankruptcy, or Chapters, and they each have a specific number, scope of use, and purpose. Per [Wikipedia](https://en.wikipedia.org/wiki/Bankruptcy#United_States), they list six in the US. There are more. * Chapter 7: basic liquidation for individuals and businesses; also known as straight bankruptcy; it is the simplest and quickest form of bankruptcy available * Chapter 9: municipal bankruptcy; a federal mechanism for the resolution of municipal debts * Chapter 11: rehabilitation or reorganization, used primarily by business debtors but sometimes by individuals with substantial debts and assets; known as corporate bankruptcy, it is a form of corporate financial reorganization that typically allows companies to continue to function while they follow debt repayment plans * Chapter 12: rehabilitation for family farmers and fishermen; * Chapter 13: rehabilitation with a payment plan for individuals with a regular source of income; enables individuals with regular income to develop a plan to repay all or part of their debts; also known as Wage Earner Bankruptcy * Chapter 15: ancillary and other international cases; provides a mechanism for dealing with bankruptcy debtors and helps foreign debtors clear debts They all the same general process. Gather up whatever assets you have, appraise them for $ value, liquidate, distribute, and pay off as many creditors as possible in a suitable fashion. Sometimes you get to keep your business (restructuring), and sometimes you’re left with the bare necessities (roof, clothes, enough money to live on). Most of the time there is an order to paying the creditors. Remember the mugging scene in The Big Short?  [Footage of a mugging in progress](https://preview.redd.it/j4rtumkgqdl71.png?width=1846&format=png&auto=webp&s=9498d71c077c7575b77e0619d28308de51c9587b) It was right after the part where Dr. Burry sells *the idea* of MBS Swaps to the bank. He provides Prospectuses (keyword!) of the desired Swaps to the Banks’ quants and managers review the Prospectuses and the idea, and then they sell him the Swaps. The key point in that scene is when he stipulates to the banks that he gets paid first in the event of insolvency.  [Egg, meet face.](https://preview.redd.it/bxq76ethqdl71.jpg?width=1280&format=pjpg&auto=webp&s=9d59c05aa098d817e7164fc117b4c5e1b7efbbb2) Think that over again. In the event that the *banks* become *insolvent*. Let’s phrase it another way. **In the event that the banks**, who sold the MBS Swaps to Dr. Burry, **go bankrupt, the Banks would pay Dr. Burry**, a creditor, **first.** Take a moment and let the magnitude of that scenario sink in. ## Let’s pivot from Swaps to Sears Under the most normal of circumstances, the bankruptcy process is not fast. It’s bureaucratic in nature and requires nit-picking the books (accounting) to an extreme. Even though most bankruptcies have a clause that pauses any existing cases, it can still generate new civil cases and criminal cases when the bankruptcy’s financial analysis uncovers fraud. Sometimes the civil lawsuits are as simple as a misunderstanding. Sometimes they are as nefarious as, “If I can’t get my money, you can’t get yours. I’ll sue you and drag this out until the lawyers eat up all remaining funds with their billable hours.” It can be smooth. It can be a complete fucking shitshow. Or anything in-between. Now go back and watch that scene again. ## How does this relate to Stocks? Shareholders are investors, and for the purpose of this over-simplistic discussion they are creditors. They are way at the bottom of the list. As a shareholder, here is the super simple math to determine how much $ you would get, post-bankruptcy, assuming the bankruptcy is successful, and assuming there is anything left. 1. ( Assets - Debts ) = Remainder 2. Remainder / Shares Outstanding = Value Per Share 3. How Many Shares You Own \* Value Per Share = Your Payout This process takes years. ## The Bankruptcy Process In general, once a business announces they are filing for bankruptcy, a Bankruptcy Administrator will handle the process. They get paid first, especially in Chapter 7 ( Debts > Assets ). This Administrator is responsible for all the nitty gritty accounting details, collecting and holding assets, etc, etc, etc, including moving assets into a Holding Company. It is a *holding* company both in name and function, and it will hold all of the company’s assets. This includes everything from any remaining inventory, equipment, shelves, the real estate, shares - all of it. At this point, the original company’s stock transfers from the original company to the holding company, and it is listed under the holding company’s stock ticker. These usually get a Q at the end, “the Scarlet Q.” Again, *suuuuuuuuuuper* simplifying this process and lots of important details. There are entire law classes on this topic that go super in depth, but the explanation is suitable for the general firesale bankruptcy. The Administrator will oversee the appraisal process to get the best value wherever possible, deduct a bit for their expenses, then distribute payment to any creditors for any outstanding debts in the appropriate order. Once that happens, any remaining assets are distributed to the shareholders. That’s all fine, normal, good behavior. ## Here is where it gets ugly Let’s look at Sears. I cannot link the Finding Alpha site, because it’s blocked, which is a shame because there are two articles from 2018 that are fantastic. The titles are: 1. Sears Holdings: An Update On The Best Investment I Have Ever Seen 2. Sears Holdings: How To Buy 17 Dollars For 17 Cents You should search these up and read them, then come back. Many thanks to u/Get-it-Got for pointing me to these. To my knowledge, there is no reason to change the 2018 financial analysis, but I have not reviewed the data, and I am not making any recommendation either direction. Again, **not financial advice.** There is a lot here. 1. We could focus on the disconnect between the stock market and the stock’s underlying business fundamentals. Sears is worth \~$30, but it is currently trading at $0.41. 2. We could focus on how a market-skewed share price drove a successful business into bankruptcy. 3. We could focus on how few people bothered to look into this until it was too late. [“But, wait! There’s more!”](https://preview.redd.it/haemogqoqdl71.png?width=960&format=png&auto=webp&s=4ba99d20f56c5ad417e2bf4ccfa8f56f4b23da6e) ​ Instead, I choose to focus on the immediate ramifications and how it pertains to you, as individual Retail Investors, using trading platforms of your choice. 1. Once a stock ticker is delisted, only authorized parties may purchase the stock. 2. Your Broker is willing to take your delisted stock tickers. 1. If you sell these shares to your Broker, you will realize Capital Losses, your Broker will acquire the shares, and they will receive any shareholder payout, if any occurs. 2. If you do not, you will have to wait for the bankruptcy process to complete before you receive any shareholder payout, if any occurs. Again, I am NOT providing financial or legal advice here. ## How insidious is this? Financial Statements are public. Remember how I slapped (keyword!) on the Prospectus above? You can read the Prospectus of any publicly traded company through [SEC EDGAR](https://www.sec.gov/edgar/browse/?CIK=1326380&owner=exclude). (*Do not use Fintel. Use a primary source.*) The public is largely ignorant. The vast majority of the public does not have an Accounting Degree. Hell, I’d argue the vast majority of the public doesn’t make the connection between algebra and grocery shopping. The Brokers, on the other hand, employ people specifically to look at bankrupting companies and assess the share payout. Even if they don’t employ people specifically for this and only this, it is an established workforce. People do this for a living and people do this in addition to their primary job, like Eric at Finding Alpha. *It’s supplementarily informative. Industry adjacent.* In other words, it is *profitable* for them. It costs them next to nothing, in many cases literally $0.00 nothing to acquire these shares, *and all they have to do is write the transaction to a hard drive and wait.* It’s also one more depth beyond [deepfuckingvalue investing](https://www.reddit.com/r/Superstonk/comments/pf4mhd/a_comprehensive_feel_of_the_situation_is_why/hb2epi7/). ## Pernicious As if sinister wasn’t bad enough, I argue it is *pernicious*. per·ni·cious adjective adjective: pernicious having a harmful effect, especially in a gradual or subtle way. We’ve established a scenario where the shares still have intrinsic value. 1. Sears is worth \~$30, 2. The Market Value of the same shares is less than a dollar ($0.41). 3. The events leading up to the bankruptcy process belie the true value of the underlying assets (stocks). This *grossly undervalues* the share prices of the delisted stocks *in some cases.* I cannot emphasize *in some cases* enough. It applies here because Assets > Debts. That won’t always be the case. But you’re a broker, and you’re scooping up all these shares worth $30 each for pennies. ## What do Brokers do with the shares? First, we established the shares' intrinsic future value is $30. Unless the Broker can sell the shares for more than $30, there is no reason to sell them. Beyond that, any shares they have fall under the normal things you can do with shares. Loan them out, hold em, whatever. Except I imagine the Brokers would value the shares at $30 each instead of the $0.41 each. That means they will hold onto them for the payout. Scoop up as many as they can from whoever they can, including their own clients. That should set off warning bells for Conflict of Interest. The difference between a client and a customer is the relationship. For clients, you help grow their wealth or business because *their* growth drives increases in *your* revenue. For a customer, you are providing a goods or services in exchange for payment. *I argue any Broker that has sent out correspondence to their clients for the purposes of acquiring their clients' undervalued, delisted ticker shares has breached the client relationship and knowingly engaged in a Conflict of Interest that results in the Broker's gains at their clients' expense.* I argue that any Broker worth its salt would provide relevant and accurate evaluations for any delisted tickers, so their clients could make informed financial decisions instead of relying on the stock’s \[grossly undervalued?\] share price. **For those of you who own delisted tickers, how did your trading platform handle communication about those stocks?** # Continuing Education If you are interested in diving deep into this rabbit hole of super deep value investing, there are amazing resources available for free. MIT provides their text books for free, and you can audit their classes online for free. It's fucking MIT. The courses are great and the professors are amazing. I highly recommend auditing any Business Management class you can, especially focusing on Accounting. I also recommend looking into Bankruptcy classes, if they offer them. Those are usually under Law or Legal Administration or Paralegal degrees. Super useful for a broad understanding. The Law versions of the classes go super in depth. (I still haven’t looked.) u/polkfamilymeats has graciously shared some links and info: >[https://ocw.mit.edu/courses/economics/14-09-financial-crises-january-iap-2016/](https://ocw.mit.edu/courses/economics/14-09-financial-crises-january-iap-2016/) > >Course Description: This course is an introduction to the economic theories of financial crises. It focuses on amplification mechanisms that exacerbate crises, such as leverage, fire sales, bank runs, interconnections, and complexity. It also analyzes the different perspectives on the origins of crises, such as mistaken beliefs and moral hazard, and discusses the optimal regulation of the financial system. The course draws upon examples from financial crises around the world, especially the recent subprime financial crisis. > >Anyone who wants to browse the topics in the finance subcategory will see some excellent offerings: [https://ocw.mit.edu/courses/find-by-topic/#cat=business&subcat=finance](https://ocw.mit.edu/courses/find-by-topic/#cat=business&subcat=finance) Hope this is helpful. Please let me know if you have any questions.

Superstonk

I want to add...if you short and the company goes bankrupt your position is never closed and therefore not reported go the irs. This is in conflict with the law. https://www.reddit.com/r/DDintoGME/comments/ph7euo/if_you_can_prove_shfss_are_not_paying_taxes/?utm_medium=android_app&utm_source=share

sa5766

Patrick Byrne stated that pension funds lend out shares to earn money - is that the main reason Apex is killing IRA DRS transfers?

Since I’m not that familiar with the US IRA structure I just (again) watched the Patrick Byrne video and one thing catched my attention even more now. He stated that pension funds would have a huge business by lending out shares that are bought for their participants. Now that Ally finance as well as Apex clearing house have fully stopped the direct registration of shares I’m starting to wonder: is it because they just want to attack direct registration at all or is it more because the pension funds were lending out shares they did not own at all? (You know… as our other brokers as well lol) I couldn’t find that much numbers about GME according to this but I do actually remember a lot of euphoria within the past months among popcorn stock about more and more pension funds would buy huge chunks of their stock. So after watching his video I guess this was for lending out right from the start. Do we have actual numbers about pension funds holding GME shares or is this just another thing that we might look into? I somehow have the feeling the pension funds lending out GME shares for the past months could have been a much bigger issue than we had on the radar. Edit: thanks to u/bennysphere for pointing out the video and timestamp! [Link to Video with right time](https://m.youtube.com/watch?v=COQvMsbb-Cw&t=510s&pp=2AH-A5ACAQ%3D%3D) Time is 06:00-13:00 if timestamp is not working

Superstonk

Apex is headed by a Rothschild. They’re corrupt and control all banks. They’re also the ones that orchestrated the buy button being disabled 51 weeks ago. In fact, back in March, their CEO mentioned brokers like Robbinghood wouldn’t exist if not for Apex… take that for what you will.

y2q516

US sentiment on META (Zuckerberg/FB)

Why does the US have such a hate boner for Zuckerberg/Facebook? Seems to me there is a lot of coverage about how bad social media is for teens and such, last time I checked FB/Instagram are not the only social media, Twitter is notorious for being a cesspool, TikTok starts many if not all the bad even illegal challenges/trends that teens actually follow and its literally controled by China. I don't think there's such sentiment in other parts of the world, certainly not as prevalent, like a majority of people in the US just accepted Zuckerberg/FB = bad?.

stocks

The hateboner is mostly on Reddit. Reddit has a hateboner for every big company these days. Lot of people here just read some garbage and regurgitate that on everywhere. Most people here won’t know the great contributions to tech that Meta has given, like React, GraphQL, PyTorch. Also, most people here don’t know much, the world outside Reddit it much different.

8vn55k

Would you folks be keen for a weekly stock discussion thread?

I figure if anyone has any stocks they've been looking at lately, it would be great to share them with others. There's heaps of companies out there, and too many good ones go under the radar. Let's do it mods.

AusFinance

What's really needed here is a weekly thread discussing Australian property. We get the same conversation day in day out. There is not a day that goes by that at least a couple of major news outlets write a story on property, and inevitably it gets posted here. In reality, it should all go into one super thread that maybe gets refreshed each week. This whole sub doesn't seem to have very active moderators.

hpsr9h

Help with compound interest

Apologies in advance if this seems stupid but I was looking for some help with calculating how compound interest would work for a VGS long term strategy. VGS pays dividends quarterly (is this the compound frequency?) but there is only an option for monthly or annually. So if I purchase $20,000 of VGS and then consistently deposit an additional $800 every month for 50 years, is this the correct way of calculating this? https://preview.redd.it/0icsjebarea51.png?width=1007&format=png&auto=webp&s=2a5e1b0bd0229d40d75152e687e1d055366a7781

AusFinance

Yep, you're doing it right. 8% is a realistic return pre inflation, but you need to remember that 6 million won't be as valuable in 50 years as it is now. I generally use 5% in my projections as a somewhat conservative, post inflation number. A lot of people use 7% but that's a little optimistic for me. Using 5% real return, you should come out with around $2.2million in 2020 dollars.

8u5ioe

How best to protect myself against an impending Australian recession?

Hello ausfinance redditors, I have a fairly substantial (for me) amount of cash sitting away in an ING savings account. It's close to 6 figures, probably not a lot to most of you but it's the only asset I have and I want to protect it. I am extremely worried about the future of the Australian economy and the future value of the AUD. I just read Matt Barrie's article 'The Australian Economy is a House of Cards' and while I perhaps don't have the financial knowledge to be able to determine how much of it is hyperbole, it's still a pretty distressing read. Assuming that the Chinese downturn continues or even escalates, and the Australian property bubble explodes, sending our economy into deep recession, would the value of the AUD fall significantly? I really don't want to be stuck in the position where I'm left with a wad of AUD that's worth a pittance compared to the other major economies. What can I invest in right now that would hedge me against a potential devastation of the Australian economy? Is gold a good option? I've thought about buying USD directly but I'm not sure how to do that with a large sum of cash. Thanks for any advice.

AusFinance

If you’re scared of an upcoming market crash, you don’t know what you’re doing. If you keep your money in cash you won’t have to worry about it. If you have funds in stocks, don’t sell at a low level. Keep cash reserves and invest during a bear market since it ALWAYS results in a bull market afterwards. Learn to respect the market volatility and you will come out on top.

x1yaok

Buying a property to live in but currently has a tenant

Hi guys first home buyer here in Western Australia. I’m looking to put in an offer for a property but it’s currently got a tenant until end of September. Are there any steps I can take as a buyer to minimise any risks e.g tenants refusing to leave or damaging property? I guess I am over thinking it I was thinking of asking the owner to serve notice to the tenant as soon as offer is accepted. Any tips or guidance would be greatly appreciated!

AusFinance

End of September is not that far, probably within normal settlement time frames. Definitely ask your settlement agent/lawyer to ask for vacant possession. This means the vendor is responsible for ensuring the tenant has vacated.

m5grwq

Is business a faster track to wealth than having a job?

\[moderators feel free to delete if i'm breaching any guidelines/not in the right place/this is not appropriate content\] So i've been enjoying this community for the short time i've been on Reddit, and occasionally learn something really helpful - my main interests are skillful (and legal) tax minimisation and investment strategy. I've been a small business owner/entrepreneur for the last ten years and it's been eye opening to realise how many people ask questions about job/career/salary etc. When i see a question about "how do i hit my goals faster/pay off my house/improve my situation" my instinctive response is: "add a side hustle/build some passive income/learn to sell stuff on the internet etc." However that sort of advice doesn't seem to be what people are wanting to hear! Also i remember when i did have a (low level corporate) job i always felt infuriated when i thought about the large % of tax that was getting taken out without my say so. When i learned a bit about company structures and about what people with (successful) small businesses were able to do with their cashflow before paying tax i knew that was a better option for me (also im terrible at following instructions and dislike working 5 days a week!) I'm also not sitting here thinking "small business is better than working for someone else" its obviously all about what works for different personalities and so on and i guess to a lot of worldviews it seems 'risky' though that hasnt been my experience. I do remember when i first started my financial education journey (about 15 years ago) pretty much every book i read said: "you'll never get rich working for someone else" and "learn to market and sell and you'll write your own cheque" (yes they were always American books but i took them to heart LOL and for better or worse i went for it) After (quite a few) failures and a solid decade of trying different things and evolving i now have a high level of financial freedom and security relative to where i came from and the people i went to school with. I reckon it took about 7 to 8 years before the entrepreneurial path started to provide better financial returns than people with professional careers/corporate jobs So i guess i'm curious: Who here left their day job and found a less conventional path to financial wealth building and how long did it take before you realised you were better off? or.. did anyone try it and realise "this is not for me!"?

AusFinance

Business is a fast track to riches or poverty. One of the issues people have with replicating it successfully is survivorship bias. You’re likely to learn more from people that fail than those that succeed.

ulpuuz

Suddenly making tonnes of money - completely terrified

Heyo I’ve recently swapped over from being a mobilisation coordinator to a fifo site admin. I’m making $48 an hour, 11 hour days, 3:1, although I’ll be changing to a 6:1. My lease is up and I can stay with family on my rnr, food is payed for at camp, etc, so I really just have my internet and phone bills every month ($200 total). Others in my position say that 100k a year after tax is quite standard and I hope with a 6:1 I could maybe do a bit more? Anyway, I want to buy a townhouse or apartment in 5-7 years, preferably cash, to have a nest egg for retirement, and use that income to kickstart travelling and working around the work. The thing is that… I’ve never really had money!!! Only six months ago I was making $42k, BEFORE TAXES!! And I’ve been paying rent that whole time, so I’ve never really had a cent to my name. So I was wondering if any financial vunderkinds could offer some advice? I’m mostly curious on how to reduce income tax (rural living offset is a joke, but what about salary sacrifice? How does that work?) how to protect and grow my super (my roommate insists we’ll lose it all soon- what the hell is up with that?!), and what sort of precessional should I be going to for financial advice or investment help? Thanks so much for any assistance, it is truly appreciated!!!

AusFinance

Well done mate. It is a bit of a cliche suggestion; but the Barefoot Investor could be a good book to start off. (Something to read on your downtime or when you're on the plane.) Regarding super, your roomate should not be listened too. They're just simply wrong. Make sure your super is with one of the bigger name industry funds. Not a bank / retail fund. And as u/bor3danddrunk said, save. Maybe build up a good pile of cash for the first few months, settle into the FIFO life, see if you like it, etc. But the Barefoot book would help to give you ideas on what to do next.

e6w1s6

Neobanks - Opinions? Any Good?

Hi Guys, Just keep seeing ads for UP and 86 400 and I've started reading into them. Is it worth moving my spendings accounts to one of these new banks? Are there any benefits for the everyday user? Does one outshine the other? Some helpful information if people don't know what I'm talking about https://mozo.com.au/fintech/digital-banking-and-neobanks

AusFinance

You've also got Xinja and soon to be Volt. Up is a little different, not technically it's own bank (under Adelaide/Bendigo's banking license) but has probably been the most successful as it was first in that market. So far they all seem to do the same thing for the same market. A few gimmicks, a good savings rate, but nothing stands out as being really good compared to ING or Macquarie. 86 400 probably had the best onboarding process. Also really liked 86 400's integration with Yodlee so you can see all of your accounts, but it didn't seem to include loan accounts on it which was odd. Xinja's product seemed really half-baked seeing as they've been set up longer than the others. It was like they needed to get a product out there, but half of the offer was 'coming soon'. Seriously, a savings account isn't hard to create if you have a transaction account. My only piece of advice would be not to invest over $250k with any of them, so you get your Government Guarantee.

b2p2gv

Lost a Friend

Hey guys - just not sure where else to turn about this so here I am. ​ I had a direct report at my old job (I left about 18 months ago) for most of the 6 years I worked at the company. Over the weekend, he was found dead in his apartment of an apparent suicide. He had quit my old company about a month ago to dedicate his time to trading stocks. I last spoke to him about two weeks ago and he was incredibly excited to be free of the corporate reins and to be able to support himself financially with nobody to answer to. ​ While I sincerely hope a massive trading loss is not what led to his suicide, I can't be entirely sure. My heart is very heavy today and will be so for a while. ​ I just want to encourage any and all of you struggling with losses to seek the help you need and to never be afraid to ask. Don't waste your life on what you see to be an irreconcilable situation - there are always solutions. You have people out there who love you and would want you to get all the help you need.

wallstreetbets

Last year during dips i would lose a few k in a day and feel quite down for the day, hoping to make it back the next day with a green day. and god forbid if it's 2-3 red days in a row. i would go nuts. but it was just overall a rollercoaster of emotions. ​ then october hit. and im down in into deep 5 digit losses, something far greater than i ever expeirenced ever in my life before. at first it was shock. then a short state of depression. and finally. numbness. the numbness ended up being the lasting sensation and as december came about, account dropping few k per day no longer phased me. now i'm on my way back up, doubled since january but "all time -80% LUL" but i'm feeling great. gain days are great but red days no longer phase me like i used to. ​ what doesn't kill me makes me stronger.

nujd1w

Any recent experience with Golden Visa for Portugal in 2021?

I am curious about this as Portugal's golden visa requirements will change at the end of 2021. Which investment option did you use? How long did it take in total? I see some people choosing the real estate option as it is a safe investment. I was thinking of the investment fund option as it is the cheapest option(350k euros) and not much paperwork but is there a possibility that the whole money can sink? I've heard these investment funds invest in real estate though. Any recommendations?

fatFIRE

From my (extensive) experience with the financial markets in Portugal, I can tell you that only bottom of the barrel funds opt in to these government programs. You should find a conservative fund amongst those options and forget about the investment. While it is true that some of them invest in Real Estate, they rarely cross 5% a year and some funds even have regular negative years.

watkl8

Car Buying in the USA in this cluster of an economy

Update edit — I’m going to heavily slow down on responding now seeing as the majority of new comments are saying the same things. I’m going to take my current vehicle to a local mechanic or two and see what they think. If I can keep this bad boy clunkin along for a year or so until the market hopefully cools off and I’m in a better financial situation great. If I really do need a new car I’ll broaden my search to FWD cars and snow tires. I honestly really don’t like the idea of a car payment anyways. Thanks again everyone who had helpful info and wasn’t a sarcastic bugger. I DESPERATELY need a new car. I have for several years but put it off because I worked from home throughout the pandemic but now I really regret it. My current 2009 vehicle is approaching 180k miles and has some issues that cost more to fix than the cost of the vehicle. I also drove it without transmission fluid for several months without realizing.. so I’m scared that’s going to come back and bite me in the butt any minute. I honestly don’t feel safe in this vehicle. Now I WFH half of the time and need to drive more. I have been car perusing recently and was approved for $20k loan at 2.99% interest and I have some money saved up to put down. But, GOOD GRIEF IT’S SLIM PICKINGS OUT THERE. I just feel like I CANNOT afford a reliable car. **reliable** being the key word here. I have a temporary raise for a few months at $26/hr and my finances are mostly in line with the 50/30/20 rule. After a few months it’ll go back down to $24/hr unless I find a new job which is a whole other can of worms. I live in a very snowy area so AWD is a must. All the AWD drive cars around $20k have *below average reliability and high maintenance costs* according to all my research.. I just can’t help but feel defeated. I’m not going to use the rest of my disposable income on a car and insurance but I also don’t want to wait too long and get even more stuck. It’s not looking like the car market is going to get much better anytime soon but I also don’t want to get into an accident or stranded. I really don’t have a specific question for you guys. Just any general knowledge and insight would be greatly appreciated!! EDIT - ALOT of you are saying FWD with snow tires > AWD. I feel like I should clarify my weather a bit and see if you still agree. When it snows it SNOWS. And snow plows suck here. BUT, we also have a lot of sunshine in the winter so after a week or so it’s all melted. If I had snow tires I feel as though I would be wearing them down way faster than normal due to this. Is that still cost effective? Edit - It’s normal for it to be 40°-60°F, blizzard and ice storm the next few days, go below zero and then snap back up to 60° all within one week and repeat several times. Edit - it’s getting harder and harder to keep up with comments and I’ve seen a few mention “don’t need AWD unless you’re in Colorado or _______”. If you must know I am in Colorado lol winner winner chicken dinner. But, a lot of you from Canada say you get around just fine with FWD + snow tires. I guess I just need to try it out for myself and see what I’m comfortable with. But, being in Colorado adds to the troubles of finding an affordable car. I might look into other cheap states and driving it back. Some of you have mentioned in the Midwest some very affordable deals that I simply cannot fathom to exist in Colorado due to high COL and high demand. **FINAL EDIT** - thank you everyone for your input! It was very much needed and very insightful. I’m going to stop responding now seeing as the majority of new comments are saying the same things. I’m going to take my current vehicle to a local mechanic or two and see what they think. If I can keep this bad boy clunkin along for a year or so until the market hopefully cools off and I’m in a better financial situation great. If I really do need a new car I’ll broaden my search to FWD cars and snow tires. I honestly really don’t like the idea of a car payment anyways.

personalfinance

I live in Montana, it snows like 8 months a year here, and drive a 1995 honda accord with all season tires. You don’t NEED all wheel drive, you just need to be cautious while driving. 8 winters here with the same car and zero issues. I’ve gotten stuck once or twice but that’s what my car shovel is for.

m8yto6

I didn't realize how priced out I was from the city I grew up in.

So in order to buy a house, I'd have to be making 20k A MONTH. Not 20k in savings for the down payment and such, 20k a month in wages. I do not make 20k. I make 3.5k and only because i've been working overtime. Not even if my whole family pooled every cent together would we have 20k a month. I don't even think there are any jobs in my city that pay 20k a month. My parents were lucky as hell to buy the house when they did and keep it in spite of the housing crash, else we wouldn't be able to live here. Who the hell decided on 20k a month??

personalfinance

That has happened a lot. Sounds like you maybe live in the Bay Area. Most of my friends have moved away from the Bay Area, especially in my hometown of Santa Cruz. I was fortunate to buy my house right at the beginning of the upswing of the market in 2011 and I am fortunate to have a high paying job. That being said, People did not decide on 20k a month, but you can attribute it to high end wages, low inventory, overseas investors who buy homes sight unseen for 100k over asking

m7zshu

Maxed out a credit card around $4800 back in 2016. They want to settle now for only $480. Should I do it?

Figured I'd ask before jumping the gun. Back in 2016 I had to pay cash for a custody lawyer so I racked up a Chase Credit Card with crazy high APR by living off it. Not trying to justify my situation but figured I'd give insight. I know I'm stupid for racking up a credit card with a 29% APR They closed the card a few years ago and ever since then I've been getting offers from debt collectors to settle. It's progressively gotten lower as the years went by. Yesterday I got a letter from Chase offering to settle for only $480. Would I be stupid to not take it? Would it be removed from my credit history? The letter doesn't go into specifics like that. What should I do? Edit- The account was closed in November of 2018 with the last payment received in August of 2018

personalfinance

I would take that deal in a heartbeat. Ask for the deal in writing and also ask them to remove the negative remarks from your credit report. You should pay them with a money order, do not give them any direct access to your bank account.

7qtdpn

Don't fall for the USD scam.

You may have noticed USD has been surging lately. Recently passed 8k sats. Don't fall for this shitcoin. It's completely centralized and the organization in charge of it is able to alter the supply at will. Not to mention their leader is overly defensive and constantly attacks people on Twitter. This coin looks like a classic pump n' dump tbh.

Bitcoin

I was under the impression this coin was designed to stay around $1 in fact every time I move money out of Bitcoin to hold I put it in USDT because I know it's still going to be $1 when I come back to it regardless of where the market is

7qtdpn

Don't fall for the USD scam.

You may have noticed USD has been surging lately. Recently passed 8k sats. Don't fall for this shitcoin. It's completely centralized and the organization in charge of it is able to alter the supply at will. Not to mention their leader is overly defensive and constantly attacks people on Twitter. This coin looks like a classic pump n' dump tbh.

Bitcoin

Yeah screw usd. I found a new coin that my people use. I think it was called ughh.....CAD. YUP best currency in the world. But 1 for .75. It's cheap, water proof and if ur rich it even smells like maple. So don't fall for these paper money and come buy plastic.

54k26g

Daily FI discussion thread - September 26, 2016

Please use this thread to have discussions which you don't feel warrant a new post to the sub. While the Rules for posting questions on the basics of personal finance/investing topics are relaxed a little bit here, the rules against memes/spam/self-promotion/excessive rudeness/politics still apply! Have a look at the [FAQ](https://www.reddit.com/r/financialindependence/wiki/faq) for this subreddit before posting to see if your question is frequently asked. Since this post does tend to get busy, consider sorting the comments by "new" (instead of "best" or "top") to see the newest posts.

financialindependence

Received a promotion this morning, which comes with a 28.5% pay increase! I technically "skipped a step" in the normal advancement, so this is a nice surprise. Although, I'm feeling a little awkward around some of the guys that have been here longer than me that I beat out for the promotion. The promotion isn't going to change my attitude towards my work, so hopefully it doesn't impact theirs.

8xr5gv

Why is Robinhood generally mocked? Is it actually a good platform for putting away money, or should I look elsewhere for medium/long term investing?

This will probably end up on /r/wallstreetbets but I don't really care because I'm well aware that I don't know anything about trading, or the stock market in general for that matter. I know how the market works, I just have zero experience in actually manually trading myself. That being said, I've been looking to put a small bit away into the market with every paycheck. Robinhood seems tempting because it is so easy to get into, but I also see that lots of people mock Robinhood as a platform for interacting with the market. Is this because there are just generally better alternatives that I should use, is it because of its tendency to attract "noobs" that don't know what they're doing (myself being included in this category), or is it just because of it's popularity and mobile-based roots? I'm not committed to using it yet, but I'm trying to figure out what the best solution is for me. I'm not looking to use it as a 401k, I'm not looking to put tens of thousands of dollars away, I'm just looking to put a couple hundred away here and there and leaving it there for several years, maybe making an occasional trade if I want to. Is this investment approach correct in the first place? Should I steer clear of Robinhood in favor of a better alternative platform, or is it's mockery around the stock market community something I can ignore?

investing

I've been using RH for a year+ and really enjoy it. The free trades work both ways, though. I feel like they make it *too* easy to trade so you might find yourself buying/selling on impulse instead of taking more time to consider it (as when you'd have to pay $5-7/trade would make you do). But it's been great to buy small amounts of shares on dips, etc over the last year. My plan has been to build up decent positions ($1k+ of a few holdings) then slowly transfer them over to a longer-term broker like Vanguard, etc if I plan on keeping them for 5+ years. Anyhoo, hope that helps at all.

wgi1z6

Twitter rejects Musk's claims that he was hoodwinked

[https://www.reuters.com/technology/twitter-rejects-musks-claims-that-he-was-hoodwinked-2022-08-04/](https://www.reuters.com/technology/twitter-rejects-musks-claims-that-he-was-hoodwinked-2022-08-04/) NEW YORK, Aug 4 (Reuters) - Twitter Inc [**(TWTR.N)**](https://www.reuters.com/companies/TWTR.N) on Thursday dismissed Elon Musk's claims in a Delaware court filing that he was hoodwinked into signing the deal to buy the social media company, saying that it was "implausible and contrary to fact." Musk made the claims in a countersuit filed under seal last Friday, which was made public on Thursday. "According to Musk, he — the billionaire founder of multiple companies, advised by Wall Street bankers and lawyers — was hoodwinked by Twitter into signing a $44 billion merger agreement. That story is as implausible and contrary to fact as it sounds," the filing released by Twitter on Thursday said.

StockMarket

It will be interesting what the penalty ends up being. It will be something bigger than $1 billion. My guess is that Musk will have to pay something between $5B and $10B and it will be agreed out of court. Musk does NOT want the judge deciding. That is for sure. But Musk will have to pay for pulling all this silliness. Musk sounds like he has a very thin skin so who knows what he will do. It is not like the money really matters to him.

g4ql25

In the red pre market, have a mysterious feeling the FED will make a deal today just in time to inject more money, nothing wrong here, move along

Once again a hint of reality is setting in, oil below 14 dollars is the blame today, time for the FED to step in with a new great plan, cough, I mean cash. Just hope it actually makes it to small businesses. The market is a stupid scary unpredictable place right now

StockMarket

Stop the BS & Fearmongering. The Charging Bull is still around. We have seen this before -- the market will just rebound by this afternoon. Why? No reason and there is no need for one for as long as Fed is allowed to sell your family down the river. FEDiflation (FED Induced Hyperinflation) is taking place, so whatever you can grab now is CHEAP! Remember this world is ruled by FED + Fiat + War... 1929 Does not apply.

lbays4

With so many people beginning to trade due to large gains on meme stocks, I think it's important to see both sides of the coin. This is an interview with a dude who lost $150,000 in 6 months

I met a guy on discord who was talking about having lost about $15,000 in a single week. I ended up reaching out to him for an interview as I was interested in what happened and it turns out he's lost $150,000 in the last 6 months (almost all of his savings.) I think it's important to highlight these stories, especially for newer traders, as it's easy to get caught up in other traders' gains (especially when people are making millions on meme stocks). [https://youtu.be/NU0LES4VzOM](https://youtu.be/NU0LES4VzOM)

Daytrading

Yeah, don’t let the fundies who don’t have to work dictate how you trade. They are just casually playing with hundred grand bets. Do not believe their stories of starting with a thousand, and ending up with a million by YOLOing.

i8d4mb

Would Biden move forward with Kamala's plan to tax stock trades?

>Last July, Harris [released a plan to provide](https://www.marketwatch.com/story/2020-candidate-kamala-harris-wants-wall-street-to-pick-up-the-tab-for-her-medicare-for-all-plan-2019-07-29?mod=article_inline) “comprehensive health insurance that covers every American.” The way she planned to achieve that? By expanding Medicare. > >Unlike Bernie Sanders, though, Harris did not envision achieving this goal by taxing families making under $100,000. Instead, she planned to pay for “Medicare For All” by taxing Wall Street. > >Her plan called for a 0.2% tax on stock trades, a 0.1% tax on bond trades and a 0.002% tax on derivative transactions. She claimed these taxes would raise more than $2 trillion over the course of a decade. Critics of the plan argued that taxing financial transactions in this way could make it harder for Americans to build retirement savings. ​ .2% is a ripoff, retailers wouldnt be able to afford to trade on margin at that rate. [https://www.marketwatch.com/story/kamala-harris-on-student-loan-forgiveness-medicare-universal-basic-income-credit-scores-and-a-tax-on-trading-stocks-2020-08-12?siteid=yhoof2&yptr=yahoo](https://www.marketwatch.com/story/kamala-harris-on-student-loan-forgiveness-medicare-universal-basic-income-credit-scores-and-a-tax-on-trading-stocks-2020-08-12?siteid=yhoof2&yptr=yahoo)

pennystocks

" Critics of the plan argued that taxing financial transactions in this way could make it harder for Americans to build retirement savings." ​ Most Americans do not use retirement accounts as trading accounts.

uv74d1

Daily FI discussion thread - Sunday, May 22, 2022

Please use this thread to have discussions which you don't feel warrant a new post to the sub. While the Rules for posting questions on the basics of personal finance/investing topics are relaxed a little bit here, the rules against memes/spam/self-promotion/excessive rudeness/politics still apply! Have a look at the [FAQ](https://www.reddit.com/r/financialindependence/wiki/faq) for this subreddit before posting to see if your question is frequently asked. Since this post does tend to get busy, consider sorting the comments by "new" (instead of "best" or "top") to see the newest posts.

financialindependence

Just flew back from home a couple days ago. Direct flight was supposed to arrive home at 6:30am, but they had some sort of weight restriction, and were asking for volunteers that would take a slightly later flight (leaving 50 min later), have a connection in Chicago, and arrive at Philly 3 hours later than the original flight, around 9:30am. Lady sat down next to me and said they had offered her a voucher for $1,000 but she just "wanted to get home". I walked up and they confirmed it, so I told them to sign me up. Me and 4 other passengers ended up getting $1,150 vouchers, a $12 meal coupon (which I promptly used), and they upgraded me to extra leg room for both planes home. Not too bad for getting home 3 hours later. Was even able to get up and stretch and walk around O'Hare a little bit. Looking at what will be completely free flights to Florida for the family sometime in January, combined with using the rest of our Chase Points transferred to World of Hyatt for free hotel stay.

mvtiat

What stocks to buy before Russia invades Ukraine?

Alright so I'm already holding $RTX (raytheon) calls which made me a handsome profit so far but I bought it cause it was undervalued anyways. Now I'm hearing Russia might do another Crimea moment and I want to get rich off of it at least before ww3 kicks off and we all get exploded by nukes. What stocks should I buy? $LMT is too expensive for me personally to get non-retarded calls but I'd say that can be added to the list anyways. It's a great stock. $BA jumps out at me too.

wallstreetbets

Buy TWTR, FB, and SNAP. Social media will be where the next world war will be fought. Snapchat with the augmented reality glasses and dope military themed filters. Facebook with thoughts and prayers profile pictures. Twitter with armchair military experts.

54h3i5

Who here plans to own a farm to retire early?

I currently live in Texas and have met people that own ranches for tax purposes. I don't come from a ranching/farming background but have heard of people that own farms/ranches and allow neighbors to use their land at a cost. Without doing hard math, if my current house is rented out and I own a farm w/house outright, I'm FI.

financialindependence

Farmer boy here. Farms aren't meant for everyone. Even if you were born in Texas. Farms whom are successful run large scale manufacturing and operating costs. You have to work four times as much to make the difference and barely break even. I would buy land for the sake of just buying the land and start small. Your competition I s big agra and taxed feed and seed. Successful farms take generations or one really fucking good farmer and farm hand. If you do this, make sure to kiss the next copperhead you see for me. Don't kill it and leave it next to where you live. They stink really bad.

z051q9

Seen the post about being a private chauffeur, bus driving is also a good opportunity

I work at a school district and started also driving a bus for them too. They trained me and helped me get my CDL. My district pays more than most around here, so numbers may not be the same everywhere and bus routes could be longer/shorter, but my routes are some of the longest in our large rural district. But if I drove 2 routes a day, it would be about 15-16 hours of work a week with routes that pay $51.23. This is roughly $34 an hour. I'm not a full time driver, but the one's who are get pension paid into and vacation/sick days(unfortunately no Healthcare as the drivers chose benefit days over Healthcare). Then there's also opportunities for extra curricular activities, like sports. With how our pay schedule works, on Dec 15th I'll get a 3 week check, I'll make around an additional $1,200 on that check from driving for less than 40 hours of work. This will not only help us with Christmas, but allow us to give back to a program in our town that helped supply us with gifts last year when things weren't going great. There's a shortage for driver all over too with many now helping train because of it. Just know that depending on the state, there could be classes, like Illinois requires an 8 hour class as part of getting your license, then a 2 hour refresher once a year.

povertyfinance

Municipal busses are also really short staffed if you live in a city with this service. Another option is community transport - my county has a line you can call to pre-schedule a free ride (within limitations). A “short bus/van” type thing takes you where you need to go. If you are good with people there is also non-emergency medical transport: these are the folks in minivans hauling people to their dialysis appointments and from nursing home to doctors appointments etc.

ok3c5t

Alibaba, Tencent mull over opening up services to each other - WSJ

China's two online giants Alibaba Group Holding Ltd (9988.HK) and Tencent Holdings Ltd (0700.HK) are gradually considering opening up their services to each other, according to a Wall Street Journal report on Wednesday. It comes days after China's crackdown on a number of technology companies with overseas listings including Didi Chuxing (DIDI.N), Tencent and Alibaba. Both Alibaba and Tencent are working on new plans separately to loosen up restrictions including introducing Tencent's WeChat Pay to Alibaba's e-commerce marketplaces, Taobao and Tmall, the WSJ report added, citing people familiar with the matter. Alibaba did not immediately respond to a request for comment while Tencent could not be immediately reached. **BABA up 3.35% in pre-market** https://www.reuters.com/technology/alibaba-tencent-mull-over-opening-up-services-each-other-wsj-2021-07-14/

investing

The Chinese government pretty much forced their hand on this one. It goes along with opening up their payments systems to the Chinese CBDC. Consumers would really benefit if our own walled gardens like Apple's environment were to open up and allow other manufacturers to build their devices or develop software modifications to their devices.

zeq96z

Company got bought out, new owner is going to give me a offer letter.

Our company has about 40 employees , got bought out by multinational company. We got notified about the acquisition yesterday. All of us were told HR is going to be talking to us regarding our offer letter. What I should be expecting? It is a one-to-one meeting. Can I negotiate at this meeting?

personalfinance

My previous employer (software) bought many smaller (software) companies over the decades that I was there. Typically, they wanted the product, engineering talent, maybe some product experts and endeavored to keep them. Most others : HR, accounting, etc. were let go. ​ Questions for you: What does the new company value from the old company? Are you part of that value?

qecjcd

Recent chinese stock pump and dump held by Citadel and possible connections with GME

HX(Xiaobai Maimai) is a Chinese small cap stock held by Citadel that surged almost 1,000% this month from 2$ to 22$ and lost 75% of its value in two days starting exactly at the same moment that GME had its most recent dump(10/21) Citadel was restricted for trading in China due to continuous pump and dumps and had [to pay fines to the government ](https://www.scmp.com/business/markets/article/1846104/us-hedge-fund-citadel-banned-share-trading-shanghai-account) [Here is a comparison of the two charts](https://imgur.com/gallery/YlVWkIb) of GME and HX they look without a shadow of a doubt similar, eerily similar. The dump started after a pump at open the 21 and went on till Friday 22, HX lost 75% and GME 9.5% in two trading days while they were moving in the same fashion, Citadel declared only less than 0.12% ownership of said company with 40.82k shares. Renaissance Technologies LLC is the major shareholder with a 2% stake of the company with 527.43k shares Renaissance Technology is an Hedge Fund worth 165B founded by James Simons which profited in a well know movie stock among the other things I hope some of you guys can find this at least interesting and maybe add some insights to this topic. Buckle up! EDIT: Don’t want to sound like a conspiracy theorist but it seems that for every upvote It gets there are like two downvotes after literally seconds 👀

Superstonk

Yeah we need to track thier trades and piggy back off them..the entire markets are down and now these apx 5 stock rise 1000% or more out of nowhere ...turn those trades into gme stocks and fist feed them gme everyday all day until they choke themselves out..

lhkvet

TNXP Licenses Rare Disease Treatment that currently has no cure TODAY

Tonix Pharmaceuticals Licenses Technology for Treating Prader-Willi Syndrome, a Rare Genetic Eating Disorder, from the French National Institute of Health and Medical Research (Inserm) Expands Proprietary Uses of Tonix’s Potentiated Oxytocin for Intranasal Administration Disorder Stunts Growth of Newborns and, Paradoxically, Can Cause Excessive Hunger During Childhood and Beyond [source ](https://finance.yahoo.com/news/tonix-pharmaceuticals-licenses-technology-treating-120000684.html)

pennystocks

People always saying it’s been pump and dumped multiple times and that’s all lol but guys, it’s actually a good stock, it’s got loads of room to grow and 6/6 buy ratings from analysts (something it’s never had before). This is a good stock, I’m in.

2l82nl

Proud owner of 45+ vending machines.

Just got'em today and pretty excited. And stressed. First job/investment and looking forward to seeing how things turn out :-) EDIT: Here is a picture of some of the parts I got: http://imgur.com/mpBTUJ9 The rest of it is still on the trailer, and that is all tarped down as I have no space and it's going to rain tonight.

investing

Vice did a pretty cool story on people who made it big with vending machines but who ultimately ended up losing a lot. Maybe you could get some knowledge out of this? Only 12min long. http://youtu.be/ORE2kqA1HD8

54vsgy

Daily FI discussion thread - September 28, 2016

Please use this thread to have discussions which you don't feel warrant a new post to the sub. While the Rules for posting questions on the basics of personal finance/investing topics are relaxed a little bit here, the rules against memes/spam/self-promotion/excessive rudeness/politics still apply! Have a look at the [FAQ](https://www.reddit.com/r/financialindependence/wiki/faq) for this subreddit before posting to see if your question is frequently asked. Since this post does tend to get busy, consider sorting the comments by "new" (instead of "best" or "top") to see the newest posts.

financialindependence

So, last night I caught my live-in girlfriend sending nudes to some guy she used to hook up with. She is already on thin ice with me for a similar incident that happened recently. I walked out of our place and slept at work last night. What's really shitty is, I am just sitting here quantifying how much it's worth the try and resolve this: she pays me $900 rent every month, and we have 6 months left on the lease. That's $5400 more I have to pay if she leaves and I pay by myself. I could also move out (breaking the lease costs 3 months' rent, $6000) or switch apartments inside my complex, which would cost a month's rent ($2000). Plus, add in the cost of my time and energy trying to find, move, and set up new place. Between this and the news of the forthcoming layoffs, I have had a tough week, and it's only Wednesday. It can only get better from here, I guess. Sorry I'm a downer this week.

6c9txl

Daily FI discussion thread - May 20, 2017

Please use this thread to have discussions which you don't feel warrant a new post to the sub. While the Rules for posting questions on the basics of personal finance/investing topics are relaxed a little bit here, the rules against memes/spam/self-promotion/excessive rudeness/politics still apply! Have a look at the [FAQ](https://www.reddit.com/r/financialindependence/wiki/faq) for this subreddit before posting to see if your question is frequently asked. Since this post does tend to get busy, consider sorting the comments by "new" (instead of "best" or "top") to see the newest posts.

financialindependence

My former coworker died today. It was one year ago to the day that we took him out for his retirement lunch. At that point, his cancer was progressing to where the writing was on the wall. If it was up to him, he would still be working: he enjoyed the mental challenge and social community that work brought, but after quitting he could focus on birding and maintaining a hiking trail. If I wasn't inspired before, I am now. For one, I want to get to retirement as soon as possible. My job doesn't give me the satisfaction that it did for him, mentally, socially, or otherwise. I want to fully devote myself to work I find meaningful despite the financial return, but for now my pay is great so I'll ride this gravy train for now. For another, I want to become more focused on my hobbies after work. Life continues on even while working and retirement doesn't magically make life better. I'm a strong believer in how you should retire TO something, not FROM your job. I come home and vegetate on passive activities, so my discipline needs improved. Crush your savings today, mangs.

5wtgc3

TD Ameritrade reduces online equity and ETF trades to $6.95

http://www.amtd.com/newsroom/press-releases/press-release-details/2017/TD-Ameritrade-Reduces-Client-Pricing-to-695-for-Online-Equity-Trades/default.aspx We asked for a response from TDA, we definitely got one! Schwab: $4.95 Fidelity: $4.95 TDA: $6.95

investing

Interesting. I wonder if this is an industry-wide thing because my brokerage, Fidelity, is reducing the price of their online trades to $4.95. Earlier I saw another similar post about another brokerage lowering their online fees as well.

d6t78n

What considerations should I make before I accept a job overseas?

Im about to accept a permanent job overseas (Norway) in my field of choice and I was wondering if people had any advice on being an Expat? The employer says they will look after all my visa application details and I know that Australia has a tax treaty with Norway. Apart from that is there any type of information or planning I should be preparing early?

AusFinance

> Apart from that is there any type of information or planning I should be preparing early? You have given zero information of your assets or family situation. If you are single with very little assets (ie. just a bank account and maybe a few shares), then it is very easy and simple. The more you have, the more complex it gets. Using a bit of google-fu you can work it out, unless you have a family, house, shares, investment property, etc, etc. Norway is cool and you will absolutely have an awesome time.

mv76h5

I won 30 grand ... what do I do?

Title explains the situation and due to privacy reasons, I'd rather not give away too much information on how I won it (wasn't gambling). I am a non materialistic, single male currently renting in Sydney.Recently received a sum of $30,000 that I would prefer NOT to put directly into savings. I've saved plenty of money over the last few years and I figured it would be a waste to leave it in savings as I now have an opportunity to **learn** how to grow this $30,000 in the safest manner. I currently own my car, do not own a house or have any debt. I would prefer to keep away from property at the moment due to lack of knowledge.I will happily rent the same apartment for the next few years. How would you invest the $30,000 to eventually make more? Edit: Izaac isn't my real name lol

AusFinance

Given your professed lack of finance knowledge, if I were in your position I’d put $5K in a savings account as an emergency fund and put the rest into VDHG which is an EFT that *trades against the broader stock market* (e.g. ASX200) rather than a specific company (e.g. Woolworths) or a specific industry (e.g. Tech / Pharma). If you were not planning on doing anything with it until you retire then you could seriously also consider putting $15K into your super this year and $10K into your super next year and claiming the tax break (which I think would be somewhere around $3-4K back on your tax over the two years) but that’s a bit of a long-term commitment if you are 25 right now, for example. An ETF is going to have a much higher maximum possible return than money in the bank but is much lower risk than gambling or day trading on the stock market. There are the usual tax considerations on your gains but that’s not conceptually different to having to declare tax on the interest you earn in the bank or on your salary - spending $100 on getting someone to prepare your first tax return for some guidance would make more sense for what to do. If you have read The Barefoot Investor it would be similar to his recommendation (for those of us who are ignorant on how the stock market works) to just put money into an Index Fund. If you haven’t read it then it makes a great introduction to personal money tips and I’d recommend it to anyone who doesn’t know where to start or what to prioritise at any point in their adult life. This isn’t financial advise as much as it is what I would do in a similar situation given available options. And congrats on your win! 🎉

591wj4

How are people buying property? (Vent Post)

Warning: vent post Has anyone here actually purchased a $1.3M+ property in the past year or two that would be willing to share their financial state of play at that point in time? My partner and I have been attending auctions for the past year or so to gauge the Sydney market as we're trying to buy a house. Due to a number of future planning + personal reasons, we've decided to stretch ourself to a max of $1.4mil. The majority of the auctions we've attended proceed as follows: * Advertise for "$1.3-$1.4M" * Decides to vendor bid at $1.42M * After some rapid bidding, hits $1.5M - hasn't hit reserve yet. Good to know the lower bracket was $200k under the reserve. * Ultimately sells for $1.57M or something stupid * I leave tilted as hell We've specifically looked at areas that aren't hyped, aren't as 'sought after' by foreign buyers, and are less 'blue chip'. Now full disclosure - we've worked hard and have been very lucky with our careers, and as such, we're a DINK in our early 30s pulling in somewhere between roughly 380-400kpa. We've saved up about $400k in cash.We've done the maths and while we could borrow up to $2M+, from a servicability/affordability and general risk perspective (especially if rates lift) its certainly not reasonable for us. The main question I have is - how the hell are people actually affording these places? Are people just saving for decades for these places? Certainly don't think you can service a mortage of this size on a single income so I assume the majority of people are dual income households. Is it just people are stretching themselves even harder? Are we just not stretching hard enough? Do we need to earn more? We read about how household income to property price ratios are completely off, economic downturn, etc etc - yet every single week without fail, basically every house within a 15km radius of the Syd CBD is going for well above $1M+ Anyone willing to share some insight?

AusFinance

I think one factor you are forgetting is people who have sold and are rebuying. Remember for every mega property sale in Sydney there are the sellers who often have a lot of money. Especially people who've owned in Sydney for 20 years or more. So a couple in their 50s, no debt, own their own home can sell it and retire or sell it and downsize still with plenty of cash left over.

suahnh

HECs Debt and Bank Savings Interest Rates

Just wondering about people's thoughts regarding their University HECs debts... I know in the past everyone have stated you are better to not pay off the HECs in a lump sum as bank rates are higher which has historically been the case. With the current CPI /Inflation rates would there be a scenario where HECs debt would increase at a rate beyond what can be achieved by keeping the money in the bank? At that point it would seem the reverse of the advice above would be true? Apologies if this is a dumb question.

AusFinance

Not a dumb question at all. Definitely worth checking what the indexation rate is before it's applied and making a call at that point. Indexation is applied to HECS at 1 June every year so check out the rate just before that.

oq3b69

Should I put more into overpaying my mortgage, my pension or the stock market?

My income is between 70-75k depending on overtime which averages just over 4K per month after tax. I don’t feel like screwing up so would say my job security is very high! 172k outstanding on the mortgage fixed at 2.29% until Dec 2023, paying £769 per month with 24 years remaining. I’m on a final salary company pension and currently paying £100 per month into an additional voluntary contribution scheme (BRASS) which I could increase up to £600+ I also have 11k outstanding on a personal loan at 7%, repayments are £435 per month with about £80 in interest added back on. Is it worth clearing this first? I have to request a quote if I want to increase the repayment so I’m not sure if it will make that much of a difference or not. Should I start doing all of the above simultaneously, or is there are clear incentive to focus mostly on one area? Thanks!

UKPersonalFinance

> I also have 11k outstanding on a personal loan at 7% Get that cleared. The interest is more than you'd get in growth in a pension and is the same as the historic long term average growth of the stock market.

r6ra2b

Probably going to fail my degree and can't afford to start again - please help

I failed an assessment in the second year of my STEM degree but was able to carry on into third year and resit it due to extenuating circumstances. I really did try but yesterday I found out I have failed again. I am allowed to carry on with third year and appeal the decision in July, and if I'm successful with that will be allowed another try and can then graduate if I pass everything else. However, obviously my appeal may not be accepted and if it is I might even fail again so I need to consider my other options. My degree is healthcare based but even before this happened I was thinking about switching to something like software engineering instead, but without an undergraduate degree I won't be able to do a conversion masters. Would a bootcamp be a good idea? Are job prospects good with that or am I better off trying to teach myself considering it would take most of my savings? Would the salary even be decent compared to if I had a degree in that field? I feel like I'm slightly overqualified for an apprenticeship but beggars can't be choosers so maybe I should consider that? Any advice or other suggestions would be really appreciated since my only other idea right now is killing myself tbh. Since I'm in third year I'd only have government funding for one more year so I can't afford another undergrad and I don't think I could even go through it again mentally. Thanks

UKPersonalFinance

Lots of people are encouraging boot camps. I’ll counter that. If you can appeal and stick through uni/move into software eng at uni with the appeal DO THAT. Yes, boot camps are an option but an eng degree will help you get through CV sifts for employers who require a degree. Lots will say that’s a bullshit requirement - I AGREE - but that is reality for the industry at the moment. There are lots of people transitioning and coming fresh out of education. A degree with an internship is the most attractive thing for employers at the entry level. We (large UK finance org) regularly hire people in high end tech and although we don’t require degrees, internships and degrees at entry level at least give us confidence they can stick at something and learn. Software engineering and general tech is high reward for the very best but please don’t assume a £200k salary in a few years time. Those are for the very best, work hard, dedicate yourself and you’ll get there. It is possible, but a degree with experience is your absolute best chance at success in my experience (public and private sector including big UK finance).

1tqdf0

Can we be a little nicer to newbies?

We all started somewhere and the concept can often be difficult to grasp for newbies. Instead of saying use the search function and then downvote, provide a link or an explanation. Takes a little time but is quite helpful to them. Newbies, read the sidebar and links, try to ask questions that you don't understand after reading. Edit: feel free to ask any stupid questions

Bitcoin

I've answered hundreds of newbie questions, but I have to say that they could do a little bit of reading before asking questions. It usually boils down to the same 10 questions. Then there's the "I've found a potentially big flaw" posts and then they're angry they get downvoted because it's usually an issue already addressed on the common myths page. Then that sparks another one of those rage posts that we're all delusional and downvote critical posts and only want feel-good posts. It's challenging to say the least.

x2nhpn

I thought that buying stonks directly via CS was complicated for non-Americans. Turns out to be not true. Took me less than 10 minutes to set up.

Basically I just set up an account with wise, opened a US checking account, deposited some money via debit card. Copied my new US banking details into my CS account and soon I'll get some more stonks directly and honestly. No more 200 EUR and 3 weeks of waiting for DRS. The future is now. If I can do it, you certainly can, too. [Eazy like a sunday mornin'](https://preview.redd.it/9t9u319ow3l91.png?width=1418&format=png&auto=webp&s=48124201a5abff5b2fbc992383c1caa64a9120a5)

Superstonk

Someone once posted here that buying through wise might cause tax complications as you now have a US bank account. They said CS sent them a letter asking them to justify having two bank accounts linked in their investor center (EU and US bank accounts). Is this true? Edit: found the comment: https://www.reddit.com/r/Superstonk/comments/t82smk/step_by_step_how_to_open_a_wise_account_to_buy/hzlvmvw

vhbwg6

Former U.S. Treasury Secretary Larry Summers says there needs to be a surge in unemployment to curb inflation. Summers said in a speech on Monday there needs to be a lasting period of an unemployment rise to contain inflation — either, a 1 year spike to 10%, 2 years of 7.5%, or 5 years of 6%.

[Source](https://www.marketwatch.com/story/heres-why-larry-summers-wants-10-million-people-to-lose-their-job-11655800397) [Source 2](https://www.bloomberg.com/news/articles/2022-06-20/summers-says-us-needs-5-jobless-rate-for-five-years-to-ease-cpi#xj4y7vzkg) https://preview.redd.it/24vapn6zty691.png?width=1197&format=png&auto=webp&s=4962b7ae47c5a5153aec166d5eac84de4841d37c >Former U.S. Treasury Secretary Larry Summers says there needs to be a surge in unemployment to curb inflation, which Federal Reserve policymakers say doesn’t need to happen for price growth to cool off. > >[According to Bloomberg News](https://www.bloomberg.com/news/articles/2022-06-20/summers-says-us-needs-5-jobless-rate-for-five-years-to-ease-cpi#xj4y7vzkg), Summers said in a speech on Monday from London there needs to be a lasting period of an unemployment rise to contain inflation — **either, a one year spike to 10%, two years of 7.5% unemployment, or five years of 6% unemployment.** > >**Put a different way, Summers is calling for the unemployed rolls to swell to roughly 16 million from just under 6 million in May.** > >The p**resident spoke with Summers on Monday**, though he said a U.S. recession can be avoided. Also: >In May, the unemployment rate was 3.6%. What Summers is basically saying is **he wants the unemployment rate to rise to a level that would knock a full percentage point off inflation. The core PCE price index was 4.9% year-over-year in April.** > >Current Federal Reserve officials don’t accept that there needs to be such a stark trade-off. The Fed’s forecasts call for the unemployment rate to rise to 4.1% next year in a way that would cool core inflation to 2.3%. Christopher Waller, a Fed governor, said the trade-off was less between inflation and unemployment, than between inflation and job openings.

Superstonk

They want a surplus of labor to force wages downward. It is the same reason why foreign workers are brought to the US on a work visa. This was always about class warfare and nothing more. The red vs blue crap was meant to divide people while at the same time distract the from the reality that the leaders of red and blue vote the same when it comes to finance. Keep the masses divided while they are being robbed.

mxnehb

Complete Newbie!

Hi everyone! As the title says, I’m a complete newbie to stocks and trading. What’s one piece of advice you would give to someone new that you wished you would have gotten? I look forward to learning along with you all :)

CanadianInvestor

1) create a budget comparing in and outs including saving for an emergency fund 2) whatever is left over that you don’t need in the next 5 years just stick in XEQT monthly 3) ??? 4) profit from compounding especially if you start young *I am not a financial advisor and this is not financial advise

tdmvsg

VDY, looking at it beyond the dividend aspect of it

Hi Folks I would like to get some feedback about what folks think about VDY without going too far down the dividend rabbit hole. I get that for many investors a dividend is "irrelevant" (to quote folks like Ben Felix) and for others it is useful and I do buy into it not being a magic bullet as those dividends don't come out of thin air. But just looked at from a performance perspective, for the last year and a half my VDY has done quite a bit better than some of the popular options including things like VBAL/GRO/EQT or even my old-timey MF [MFC4622](https://www.theglobeandmail.com/investing/markets/funds/MFC4622.CF). It also seems to be weathering the geopolitical shit storm fairly well, but this could be a mere coincidence. This is not just theoretical, as I have a little more to invest right now and I was likely gonna put it in a BAL or GRO option but have been looking at that pot of VDY I have and think it has been behaving pretty good. This noob would appreciate the comments!

CanadianInvestor

Since you mentioned Ben Felix, he has a good video on dividend stocks. While the dividend itself is irrelevant, it has some factor tilt towards value and profitability which would help explain the recent great performance. Raising interest rates and geopolitical uncertainty mean there has been a rotation towards value and profitability over growth/expansion. Over a long period of time though it probably won't be too different from the TSX Composite. Sometimes better, sometimes worse

htmdri

Is there a reason to own all 5 Canadian Banks?

By most people I generally understood that the Canadian Banks are a safe investment which they totally are. But is there any logic in holding all 5? I'd like to diversify and own some renewable energy stocks such as Brookfield and Next Era and was going to sell positions in TD and Scotia (as the other 3 are doing better) Any thoughts or opinions are welcome.

CanadianInvestor

The logic would be to get the average return of the sector. For example, the the avg annual return for the last 10 years, with dividend reinvested, was: * BNS: 5.79 % * BMO: 7.12 % * CM: 8.3 % * RY: 9.31 % * TD: 10.26% * NA: 11.78 % * AVG of the 6 banks: 8.76 % If you invested 10000 $ in BNS, you would have 18 095 $ today vs 32 330 $ with NA.

tjh43h

What dividend analysis do you use before purchasing one?

I'm trying to find a sheet sample online that helps me to understand what to look for in a dividend before purchasing one. To those who were/are in familiar stage of early investing phase, any suggestions? If you have a sheet that you made, would you please send me a copy?

CanadianInvestor

i like to check that the cashflow covers the dividend and manageable debt, especially with rising rates. if there's negative cashflow, it means the company will likely have to take on debt to pay the dividend, which is silly.

kujqsk

Clean Energy Plays - 2021

I need some advice on where to focus some cash for clean energy in 2021. Currently have a small position in RNW and ENB (they are focusing on clean energy as well) Would prefer CDN currency and an ETF format where possible. The HCLN ETF has me interested but I can’t find much detail on its holdings, release date, etc. CDN utility etf maybe? At least until HCLN comes out? XBC seems to be on a lot of people’s 2021 list. AQN BEP ETC

CanadianInvestor

Bepc or even bep.un is my pick if I could only pick one. Brookfield is a stellar company who cares about shareholder profit and it’s the largest pure play renewable that I’m aware of. Luckily, you don’t have to only pick one. Xbc looks good for hydrogen play. And AQN is a stable green utility that won’t earn you like bep night but also won’t swing like bepc might.

pb35rd

Why using the ETH network is worse than a punch in the guts

So today I decided that I wanted to buy an ERC20 token and add it to a liquidity pool today. What a HUGE mistake that was. To purchase the coins, I had to withdraw my USDC from Binance to my wallet. $15USD gas fee I then had to send a setup transaction on Uniswap. $12USD gas fee Next up is the token conversion on Uniswap $56USD gas fee Liquidity pool set up transaction on Uniswap $12USD gas fee Now to add the coins to the pool via Uniswap $54USD gas fee Ooops I don't have enough ETH in the wallet to make the transaction. Back to Binance, withdraw some ETH to top up the wallet. $11USD gas fee THAT'S $160USD IN FEES. Not to mention that all this has had an hour of transaction times. Wow, the future of money at work here folks, time to invest. Why are so many people obsessed with this network. There are SO MANY better options out there that settle instantly with next to zero fees. Vitalik, give me my $$ back please. End rant.

CryptoCurrency

Not our fault you don't know what the fuck you're doing, mate. The coin is currently heavily used beyond its actual capacity, which means you have to bribe the miners etc to get your transaction through faster. They're working feverishly on scaling the coin with sharding etc and ditching proof of work in favor of proof of stake, but right now Eth is suffering a lot from its own success.

mqxrd4

House buying - is it common practice for an estate agent to "accidentally" email you the other party's offer?

I made an offer for a property a couple of days ago which the estate agent got back to me to ask for my best and final offer. In response, I said that I would have a think and get back to them on it. However, after my response, they sent me an email to confirm that they would pass on to the vendor a higher offer than what I originally told them. When I questioned them on this to say that I didn't increase my offer, they stated that the email was accidentally sent to the wrong person and that it was someone else's offer. Is this perhaps one of their tactics, and are they even allowed to do this/ send the offer confirmation to the wrong person? EDIT: thank you to everyone for taking the time to respond to this, I appreciate it :)

UKPersonalFinance

You are most likely being played. Play them back by dropping a note into the sellers letterbox explaining what has happened, let them know you are interested in the property, but would absolutely not proceed via this agent.

cwopbe

My dad's terrible credit is enticing him to ask me (19m) to sign our new flat lease. Advice please?

Hey everyone, apologies if this is the wrong place. Followed this sub for a while and you guys give good advice. My dad is financially fucked. Apart from alcoholism, gambling addiction and poor mental health, he's managed to accumulate up to £30k in credit card debt. It's reached the point where we have to sell the house we live in to cover them, and rent someplace else for the foreseeable future. My dad is stubborn and refuses to get help for his addictions, or any kind of counselling to cope with the situation or even the debts themselves. He feels guilty for sure, and wants me to have a 'slice of something' as he put it. The house was apparently my inheritance and now that we're losing that, I feel he just wants to make up for that in his own twisted way, even though I wouldn't even be owning this flat in any way. Therefore he wants me to sign the lease for wherever we find. Pretty sure he secretly just knows his bad credit would never attract anyone to let him rent, but oh well. From what I understand, that puts complete responsibility on me to pay rent and such, right? And if there are any issues, people would come for me, not him. I need advice on this. I'm only 19, have never lived anywhere besides under my parents' roof. I'm currently an apprentice earning £12k a year and I have sizeable investments in Bitcoin (hey, I'm young, I accept the risk). I'm hoping the company I'm with keep me on after my apprenticeship concludes and it's looking likely that they will. Is me taking on such a responsibility (re the lease) a good idea, in any way? I was thinking of demanding a lump sum of maybe a years' worth of rent up front, to cover that? What are our other options if any? Advice please. Cheers. EDIT: Thanks for all the comments. I perhaps should've mentioned that more than half the funds from the house sale are going to my stepmum - now divorced from my dad - because she is getting her own place with her daughter (my sister) who is three, and is being raised by her alone. I've asked if I can stay with them, pay more rent than I already do etc. but she said it's not possible for whatever reason.

UKPersonalFinance

It's unbelievable how many posts there are on here alone about young people basically getting scammed by their shitty, irresponsible, waster parents. God only knows how many there are out there who don't have the sense to check it out and do some research first. I'm not trying to be horrible but i just really want the point to get across. Do not sign your dad's lease in your name. He's already pissed your inheritance away, now he's using you as an escape plan, nothing more. Get rid, find somewhere to rent on your own.

nqte85

OK apes this is as simple as it gets: We had MOASS, now we can have MOAGS. It's simple: Increase volatility, screw Shitadel and Shorty, get rich ($CLNE)

I'm not really sure how to do these so bear with me. In short, $CLNE has the mother of all gamma squeezes on the table. It's been getting knocked down the last couple of months by shortys at Shitadel and Susquehanna and Blackstone because they can and because it started getting some mentions around here. ​ ​ https://preview.redd.it/0w3ny5m0dw271.jpg?width=714&format=pjpg&auto=webp&s=ba581e2eb0e5b5e640224efe9634ad31d69b4d4f The same hedgies come in in the morning and short it, then cover it during the day when they've beaten it up some because they're scared of it. ​ https://preview.redd.it/wi6kmdjndw271.jpg?width=492&format=pjpg&auto=webp&s=34ef1500f2de912eeac382401dba9e0927aa3320 ​ Why are they scared of it? Because of this: ​ ​ https://preview.redd.it/bdjklwj1ew271.jpg?width=807&format=pjpg&auto=webp&s=8b1e91428300088bcbd516738b62f2995f0a31b4 ​ June 18 $13 call is the magic number. Every call option around it for every month is nothing compared to this one day and this one call going all the way out to next year, most calls have like 2,000 contracts. If $CLNE hits $13 by June 18th, over 1.86 million shares become in the money for calls. And another 400,000 shares at 12, and 280,000 at 11, and 390,000 at 10. And that's just June 18. Not many shares of CLNE get traded throughout the day, so hedgies having to buy to cover would send the share price 🚀 🚀 🚀 past the moon right to the 🪐 where the UFO's are coming from. Go look at the level 2 data. The reason they've been able to short it so well and kill its price is because there just aren't many shares sold. It's the mother of all gamma squeezes. It's literally buy calls for a penny, buy shares, get stinking rich. The increase in volatility alone would make it a big winner. ​ And the best part? You can buy more of these $13 calls for $0.01 before buying the shares to shoot it to 🪐 because volatility is basically 0 right now, which will make it even bigger. Not that it even matters, but the company itself is really cool too. Go read NrdRage's excellent breakdown of them if you want to know more, but the point is they are dealing with climate change in a needed way. ​ # TLDR: $CLNE > $13 by 18/6/2021= 🚀 🚀 🚀🚀 🚀 🚀 🤑 🤑 🤑 🤑 🤑 Shitadel and shortys = 😭 😭 😭 😭 . Thanks for coming to my Ted Talk. ​ EDITS: I highly recommend everybody go read NrdRge's amazing DD on this from 2 months ago, and also read some private chats he sent me that I have copy pasted into the comments that explains way better than I can why it is this theory works. Just forgive his language, he seems to have been in a bad mood earlier. I'd include it in the post here but I've been assured that that will invisinate the post.

wallstreetbets

From NRD. “The shares drive the volatility and price up. ​ The calls are so damned cheap that when you buy the shares, the calls explode. ​ Look at it this way: You buy 100 calls for $1.00 a contract. You buy no shares. The price stays the same. You lose $100. ​ You buy 50 calls for $1.00 a contract. Then you buy some shares. The price goes up. The calls are now worth $20 each. You make money. ​ You buy calls for $1.00 and then buy shares. The price jumps to $20 because of a gamma squeeze t hat takes place at $13. You made money on your shares and now you made $700 for each $1 you spent on calls. You are now rich and laugh at apes who talk about 10 baggers. ​ Yin and yang. With a setup like is presently there, you can't have one without the other. You can make money with shares. You can get filthy fucking rich with literal-penny calls so long as the shares still get purchased. ​ More importantly, it can't just be you. You need the apes. You have to somehow divert their attention from the hypnosis watch they're currently fixated on long enough for them to decide they'd like to upgrade to plantains from bananas. And that's where the problem is.”

8v9xp0

LandLord hasnt paid my council Tax and i get a court summons

so in my contract for my apartment my Land Lord stated he will deal with all the council tax. a year later i get a court summons for unpaid council tax for over £1000. i also find out that the 2 apartments are still registered as 1 house according to the council/government, so the landlord never registered the house as 2 apartments . the account has my name on as i moved into 1 of the apartments first. i have managed to get my court case pending while an investigation goes on for my case. I told the council my landlord needs to pay. All this started about 3 weeks ago and progress has been slow. i was thinking about not paying rent until he has sorted the bill out. i moved into my apartment 1 year ago and it was advertised as an apartment on the letting agents website. Any advice would be greatly appreciated

UKPersonalFinance

so at the bottom of my contract is says this "Water and Council Tax payments The Tenant has agreed that on top of the monthly rental amount of £XXX, an additional £XXX per month will be paid to the Landlord on the rent due date to cover Council Tax and Water bill payments. The Landlord must provide copies of bills upon request.

fvz4w8

This is what you are fighting against bears. A rigged market.

​ https://preview.redd.it/qd00odqld7r41.png?width=640&format=png&auto=webp&s=5b624f6c3fbee71e9af0b06e9121b623be59e801 This was back in 2008. The same exact thing is happening again. May you all rest in peace Bears. I salute you all for your efforts. But this is a rigged game, you already lost before you started.

wallstreetbets

Only the exceptionally retarded are perma-bears. Most gay bears are just betting on the market going into an emo-phase and start cutting itself for a few months before going back to normal, no one wins if the market starts cutting vertically, we just want it to cut diagonally for attention for a bit.

87b82i

Does anyone else think the bear market is going to extend for many more months, and possibly a year or more?

**Edit: Don't understand the downvotes. Trying to have a discussion.** I want crypto to succeed. I'm not a hater. I am highly exposed and continue to hodl. There's nothing I'd like more than to open Binance to a sea of green rocketships flying me to a moonlambo. But.... I just can't understand who would buy bitcoin, or who would think bitcoin's price is going to appreciate at the moment other than the people who already own bitcoin. If I wasn't already in it, I don't think there's any shot I'd touch it with a 10 foot pole right now after watching what's gone on over the last few months. And the entire market depends on Bitcoin. What new money is going to come into the market and drive up prices? The entire world knows this is a speculation bubble and right now it seems like the odds of losing 50% of your money are as good or better than the odds of making 50%. Cryptocurrency is way too risky of an asset for the vast majority of people, and they see it as akin to gambling more so than an opportunity to get in early on the next big thing. Every meme line drawing TA guy who is convinced Bitcoin is about to enter a new bull market is blatantly ignoring the macro issues that are in play here. Until some working products/ecosystems come out and can demonstrate some fundamental value, significant amounts of new money aren't going to come into this market. The run was based entirely on hype, and the hype is completely gone for the foreseeable future. It's going to take many more months, or possibly a year or more, for money to start coming back in - and it's going to be a slow march of a rise. We'll never see a parabolic rise in the cryptocurrency markets again. I'd love to be wrong. By all means, convince me I'm wrong. But my faith and morale has essentially hit rock bottom. Each time BTC pumps then fails, alts bleed out even lower than the previous cycle. And I just can't see an end in sight. If you truly believe crypto is going to enter an unprecedented bull run in the near term - what am I missing? What do I have wrong here?

CryptoCurrency

The people who will eventually drive prices back up are those who have *not* been following crypto. The people who drove the prices up in December and January were likely new investors who were lured in by family, friends, and co-workers. They will likely not touch it for a while, but when things start growing organically again, those people will be FOMOing again because the prices are lower. The question is when will the market stabilize where veterans feel comfortable pooling money back in to kickstart organic growth again (what we saw in the middle of 2017)?

2wo1jx

So, if the "Best documentary on investing I have ever seen" is oversimplified and bad advice, what documentary on investing for beginners should I watch?

I am a virgin to investing, I am sure many people are in the same boat. I saw the post on "The Best documentary on investing I have ever seen" and was hoping it would be a great way to dip into the investing world. Then I read the comments. Almost all of them saying it was bull. So, I am interested in learning more, but I don't want to learn the wrong way or get excited about someone's luck of the draw and invest badly. Is there anything me and my family should watch (movie or documentary) that would give us a introduction to investing and where to put our money?

personalfinance

I went through the comments and didn't find a lot of people saying it was flat out wrong. But if you want 15% gains for 20 years then find something else and then tell me about it because I'd like that. Buy and hold investing with a broad market portfolio is a fine strategy based on historical returns and theoretically will continue to be If you're young enough to stay in the market long enough to weather a downturn (maybe even a 10 year plus downturn) and don't expect more than 7% return in the end. The idea is then to re balance your holdings over the years towards bond indexes to protect the gains you've created over the earlier years and resist stock market downturns that could effect your upcoming retirement. Edit: Compound interest + time are what allow modest gains of 7% to give you a decent retirement (barring high inflation). Check out [this](http://www.moneyfortherestofus.net/save.html) informative spreadsheet if you'd like to estimate what your retirement income will be for a given year based on your savings.

vl9lw2

20k pay raise worth it?

So my current job pays 64k and they just gave me a 10k bump to try to counter the offer I got. The pros and cons of the job.. Pros Work from home and can take and pick up kids from school Lead desktop engineer Boss is great Cheap insurance Cons Company is closing two locations and only one left. They say the reason is that most people work from home even though they keep buying things for office. CIO: Only ideas are things they see on a tech magazine cover Execs run the tech decisions and we had to get rid of internal 2 factor cause of inconvenience for them. Mass exits New Job: Pros: Only 160 employees Seems like a great company 10k more money and 15% bonus yearly Pretty much doing same thing that this company but more growth area Cons 1 hour 11 min commute 3 days a week Insurance cost a little more Can’t take kids to school

personalfinance

7 hours a week of driving time is extremely significant. And who's to say they don't pull you back in for more in a few months? 7 hours a week is 360 hours in a year. At $45/hr (seems to be approx your rate) that is about $16k of your time. That eats significantly into the benefits of the higher salary. I am a parent of three and more expensive insurance can mean many things. You ought to take thirty minutes and drill into the policy details to see if overall coverage type changes. My work just went from a policy that covered a lot of stuff to one that is the same premiums but WAY shittier actual coverage of services. Thousands more in medical.cists the past year. Take the time to do a full pros and cons. There's also amazing value to be close to home and picking up kids each day. Being a parent is pretty awesome and in the new job you're going to just be gone for the vast majority of three days each week like home at 6-630, dinner and then bedtime. You won't see much of your kids those days if at all. Good luck 😃

8591k2

For those that have been investing for more than a year, I salute you. Please keep up the "Been here before" posts.

Thanks to everyone that has been around for more than a year that puts our current situation into perspective. There are a hundred guys for every one of you that started putting money into crypto in November of 2017 who are now crying about the end of crypto. Unfortunately they have a platform, and because they have been doing this for 4 months they are "experts". Thanks for adding your points of view, for people like me, who also got in in November, but actually listen to those that have a little experience and have been around a while. You have no idea the impact it makes to help us keep things in perspective among all the doomsday idiots. Honestly, you have no idea how much your "back in 2015..." stories help. Thank you.

CryptoCurrency

In since 2012 This is just the third wave of cash outs from early bag holders. As the price rises, investors will realize gains, and new investors will buy the dip after, eventually all the coins will be distributed more evenly and effect the market less. After we break 50k no one will care about a 5-10k variance. The funny part is that once crypto is successful, it will no longer be an investment, it will just be a store of value bought and used as just a currency for an item or service.

25xvf7

A close friend died unexpectedly leaving behind 1-month old newborn son. Can I setup some kind of group account/trust that his friends and family can auto deposit to every month?

A close friend of mine died this past winter at 27 years old, leaving behind a wife and newborn son. Their financial situation isn't great at the moment and I'm looking for ways to help out. In this kind of situation, there is almost always an outpouring of support immediately after the death that tapers off as weeks and months go by and people get on with their lives. My idea to avoid this is to have some kind of auto-debiting savings account or trust that all of his friends and family could deposit into to help support his son and get them on their feet. You would be able to set a recurring monthly amount (i.e, $5 ) and it would automatically get deposited into an account that only the mom had withdrawal access to. Whats the easiest way to accomplish this?

personalfinance

Go to your bank and ask them about setting up a trust account. Tell them what you want to do and they should be able to walk you through your options. You may not be able to do an auto-deposit type deal from a variety of unconnected accounts, though. I'm not sure. But I've seen banks accept deposits into such accounts by mail and take care of it on their end. *You may also need legal advice . . . sometimes giving too much money to a survivor can disqualify them for benefits. This child may be eligible for social security payments or something. I have no clue, but you need to figure out tax issues as well. I don't think it's as simple as just putting money into an account. Maybe one good idea would just be to help the mother set up a [529 account](https://www.sec.gov/investor/pubs/intro529.htm) and have people contribute to that if possible.

bfmpgq

UK Cashback Sites

TL: cashback sites: best way to use So a few months ago I started using one of the main cashback sites (The main ones are TopCashback and Quidco) I’ve been quite happy so far, they’ve been a steady little “earner.” I would like to start a discussion on is how to optimise the money recived as cashback from these sites. I’ve throw together some rules that I’ve come up with and would welcome anyone to add/amend or discuss. -Only buy what you would have bought originally without cashback -Accept that cashback is never guaranteed and not a basis for making a purchase decision -Sign up with a friends referral code to get a joining bonus (where applicable) - Chose your first cashback offer wisely, there is generally a selection of offers that are for first time users only - Withdraw your cashback once it has cleared as there is no protection to your earned money if the site collapses - be prepared to wait 1 day - 12 weeks for cashback to clear Edit: grammar

UKPersonalFinance

Top tip: Do Gala bingo through quidco - you have to play £5 and you get £50 cashback. It works. Easiest money you’ll ever earn. Also, TopCashback tend to be far quicker and more reliable for payouts in my experience. EDIT: You have to find the gala bingo offer through the website rather than the app.

wt58ld

Filed a complaint at the Swedish SEC

Hope there is someone who can translate it to English because google fuk things up and my English is really bad. Vill anmäla ett möjligt brott mot otillbörlig påverkan av utländskt värdepapper som handlas av svenska konsumenter hos svenska mäklare. GameStop (Amerikanskt företag förkortning $GME) utförde en split via utdelning den 22/7 (se pressreleasen nedan). Vad som sedan möjligen har hänt är att Depository and Trust Company "DTC" har informerat vissa Mäklare om att detta är en vanlig split utan utdelning vilket nu har medfört att vissa  mäklare utför det som en vanlig split utan att ha mottagit några utdelade aktier från GameStop. Det finns nu troligen fler aktier i omlopp än det är utdelat från GameStop. Detta förfarande medför att Gamestops aktie $GME får ett negativt värde genom utspädning av antal aktier i omlopp. Som ägare av GameStops ($GME) aktier har jag som konsument blivit drabbad ekonomiskt negativt. On July 6, 2022, GameStop announced a 4-for-1 stock split in the form of a stock dividend, effective as of July 21, 2022, for stockholders of record on July 18, 2022. Tax information related to this stock split can be found here. GameStop Guidance for International Stockholders with Split-Related Questions    GameStop has notified its transfer agent and the Depository Trust Company (“DTC”) that some of our valued stockholders in international geographies are still trying to determine if they have received the proper stock dividend associated with the Company’s recent 4-for-1 stock split. Please note GameStop has already distributed the shares of common stock required for the stock dividend to its transfer agent, which has confirmed it subsequently distributed the appropriate number of shares of common stock to DTC for allocation to brokerage firms and other participants. We recommend that stockholders using a brokerage firm contact that firm with needs or questions. Stockholders may want to make their brokerage firm aware if they recently moved shares to the Company’s direct registered list, as we have been informed this move could impact a firm’s distribution of shares.   We appreciate your investment and enthusiasm. Although we are not able to engage with individual brokerage firms, we are monitoring this situation and will keep you informed of any relevant updates we obtain through our transfer agent or DTC. Got this from Finansinspektionen. Vi har mottagit ditt mejl och hanterar det enligt våra rutiner.   Med vänlig hälsning Finansinspektionen     We have received your email and will handle it according to our procedures.   Best regards Finansinspektionen/The Swedish Financial Supervisory Authority   Box 7821, Brunnsgatan 3, SE-103 97 Stockholm Tel +46 8 4089 80 00 Fax +46 8 24 13 35 www.fi.se

Superstonk

computer share used that exact line >"Stockholders may want to make their brokerage firm aware if they recently moved shares to the Company’s direct registered list, as we have been informed this move could impact a firm’s distribution of shares. " What does that mean? if my broker moves the dirty shares they created to computer share they are going to lose their rights to real shares? or they are going to stop accepting shares from them? I am confused.

i8y69o

35 hours of job searching when there aren’t many jobs advertised in your field

Hello, I have recently qualified as a primary teacher. I have not been successful with getting a full time teaching post for September. However, I have signed up for supply work. Supply work is notoriously slow for September so I have signed up for Universal Credit to support me for two or three months whilst the pace for teaching jobs picks up. Whilst on the phone a few days ago with someone from the job centre, they informed me that I must search for jobs for 35 hours a week. From my understanding, for the first few months of your UC claim, you can specify which jobs you want to work (I have picked teachings posts). However, there are 4 (four) teaching posts in my area and there will most likely only be about one a week for the next few months. *How am I supposed to say I’ve spent 35 hours a week looking for jobs when there are no/very little job posts fitting my criteria?* I don’t want to seem like I want to sit on my arse and just claim UC. I really want a teaching post and to support myself but unfortunately it’s not going too well.

UKPersonalFinance

You have the added problem, that they have no idea what to do with you as your over qualified for them. Supply has been going very down hill even over 10yrs ago the wait moved from Mid Sept until after the October half term. And a lot of agencies will ask for suppy cover 1st, half the price you'd get for supply teaching, plus with the agencies, they won't call you, get up early and call as soon as they open, that way the 1st calls they get will come straight to you as you'd be fresh in their mind.

vjn0x6

Recently scammed. What should I do?

I was recently a victim of a zelle scam and now my bank account is negative 5 grand. The bank has denied my claim saying that since I seller the money, I am responsible for the funds. However, as of right now, it will take me a year to get my account back into a positive balance, my question is. Is it a smart idea to let it go to collections while I open a new bank account with a different bank? Will the collections agency start garnishing wages? Or put a lean on my car? I have already filed a police report, and reported the scale to ziprecruiter (where the job was posted), I am a recovering heroin addict and just want to get my life together. I also owe my college 3 grand before they will release my information to another college so I can continue my degree. Both of these situations happened within a week of one another and I am just completely lost on my next steps.

personalfinance

Open a new bank account so you have someplace to access your money, but *do not* ghost the other bank. If you just ghost a negative balance account with a bank you go into chexsystems and you will have a very hard time working with banks in the future. Opening accounts, getting credit cards, loans, etc. They all have access to the same database. So ask your bank to work with you on setting up a payment plan or something.

e2g0wp

Education

If any one could maybe suggest books or other material to get a good education on the market so I can gain knowledge to better myself at investing. I hate my job, I’m a single parent and I’ve decided instead of trading my time for money, I can be at home with my kid and making a great income (eventually). Thanks.

StockMarket

A few realities: Stock trading is very risky. Many success stories you see are people with plenty of financial room to spend money on what is essentially gambling. You are dependant on one job. You might leave that job, invest, lose it all, and now you have no job and no stocks. After researching, you should probably play penny stocks and inexpensive low risk trades at first, to gain experience and build some investment funds. It'll be a long road. Its not as though you can spend half your check on some Appl stock (because that's a known, safe bet, right?) then it bumps and you profit. You paid (making up numbers) 200 for one share and it rises a few dollars... Cool you made 4 dollars on a 200 dollar buy. That's not great, you have that 200 you could use for your kid tied up in stock. But you got that 4 dollars right? People who make big money on big stock tend to have a lot of room to move. That's not going to happen for you unless you get lucky. But you can spend 10 dollars on small trades, maybe that .50 cent stock you bought 40 of jumps to .75. There's a profit and you can use that to by more stock. "playing with house money" is easier when less of yours is on the table up front. Second. Good investing requires a lot of time input. Studying, following products and announcements. Conferences. The time you're not at job working will become time at home working. You will be more immediately available to your children, yes but the thing doesn't do it itself. You'll be at the computer, reading, researching, etc. It doesn't always happen that you just drop money on it and your money quadruples. Even if that does happen its a constant flux. Highs and lows. Just make sure you have something to fall back on if you have a bad week. A garden needs tending to grow. Sure you could throw a few seeds and get a little yield, but attention and care would produce more results. So yeah you *could* leave your job and turn your entire backyard into a farm plot, but now you're spending time out there turning soil instead of with the kids. Start a smaller garden first, one you can work on a little bit each day after work. Then once you have an abundance of squash, SELL them and spend that money on better garden soil (larger stocks). Third. This shit is stressful. Even more so if it is your only means of livelihood and you have others depending on you. You will develop bad habits because if this. Staring at the tape, checking price over and over again, panic selling, bad buying... Start small and learn the basics with choices that won't hurt too bad if they are the wrong ones. Keep the day job but make a goal.

g2cswj

Chainlink is the most overvalued "cryptocurrency" the world has ever seen

There are 1,000,000,000 LINK tokens, which gives it a market cap of $3.2 billion. If you remove Tether, that would place it #6 as the most valuable "cryptocurrency". If you remove XRP, which is also not a cryptocurrency, it would place it #5. If you merge bitcoin forks, it would be #3, right under Ethereum. Its current position is #11 according to CoinMarketcap, but that's because 650,000,000 tokens are owned by the team. Those tokens are not locked, nor legally bound by any agreement to not be sold. In fact the team has already started dumping them. They are literally circulating by any technical or legal definition, but for some reason CoinMarketcap decides to mislead investors and say they are not circulating. ([https://beincrypto.com/chainlink-team-accused-of-dumping-530-million-in-link-tokens-over-six-weeks/](https://beincrypto.com/chainlink-team-accused-of-dumping-530-million-in-link-tokens-over-six-weeks/)) The team promises in its whitepaper that half those tokens will be "rewards for nodes", but why would you trust the team? They've lied countless times. For example when they plaster in their marketing everywhere that their oracles are decentralized (they are not), Vitalik himself says so. The only "consensus algorithm" they use is to KYC each node manually. ([https://web.archive.org/web/20200416103509/https://www.reddit.com/r/LINKTrader/comments/fyxc23/whats\_up\_with\_vitalik\_constantly\_bashing/fn35ae0/](https://web.archive.org/web/20200416103509/https://www.reddit.com/r/LINKTrader/comments/fyxc23/whats_up_with_vitalik_constantly_bashing/fn35ae0/)) They've also lied about many partnerships. For example, they've said several times that they work with Swift, which is not true. They won some Swift competition in 2016, and radio silence since then. They still claim to be working with Swift today, but they conveniently removed it from their website not long ago. ([https://web.archive.org/web/20190820085402/https://chain.link/](https://web.archive.org/web/20190820085402/https://chain.link/)) They also claim to be working with Google, which is also a lie. They did 1 blog post 1 year ago, which was basically a thinly veiled ad for Google Cloud services. It was provably neither a partnership nor integration. The Google employee never even ran a node on mainnet. Yet the team constantly boasts about "working with Google". ([https://web.archive.org/web/20190820085402/https://chain.link/](https://web.archive.org/web/20190820085402/https://chain.link/)) They did the same with Oracle Cloud. Fernando (the Oracle employee that organized the "partnership") bragged about holding LINK after it pumped, got demoted, and all the Oracle startups that were supposed to be part of the "partnership" turned out to be dead or fake companies. It was at best a PR stunt for Oracle Cloud, at worst insider trading by Oracle employees. ([https://web.archive.org/web/20200114062507/https://twitter.com/fribeiro1/status/1213946909464973316](https://web.archive.org/web/20200114062507/https://twitter.com/fribeiro1/status/1213946909464973316)) Chainlink has dozens of other "partnerships". I don't have time to investigate all of them, but all the ones I looked into were basically fake. (And by fake I mean they are grossly exaggerated, the tweets and blogposts are real) As of today, even though they are the highest valued non-bitcoin, non-ethereum cryptoccurency in the world, the only project using their centralized KYC oracles are Synthetix (according to someone from their team). ([https://web.archive.org/web/20200416104122/https://www.reddit.com/r/Chainlink/comments/fdwaad/request\_examples\_of\_apps\_built\_with\_chainlink/fjkhsjv/](https://web.archive.org/web/20200416104122/https://www.reddit.com/r/Chainlink/comments/fdwaad/request_examples_of_apps_built_with_chainlink/fjkhsjv/)) They apparently have countless big name companies "that will use Chainlink soon", but considering their testnet has been usable for close to 2 years, they have 1-2+ years old "partnerships" that are still not using it, and that their MO is to lie as much as humanly possible, I doubt it's true.

CryptoCurrency

I've never understood the hype for chainlink, I think its pretty pointless....but its massively up, so I just keep my mouth shut because wtf do I know.....but I do secretly yearn for it to tank into oblivion so that I can be really smug about how I always thought it was stupid.

bjxky7

PSA for anyone moving into a rental property soon!

Full disclosure, I work for an Estate Agent as a Property Manager / Lettings Negotiator. I'm also fairly new, so I may not be a wealth of knowledge, but hopefully I can benefit someone. I know the general consensus is that estate agents are bottom feeding, money grabbing, lying scumbags. However, I aim to not adhere to that image and actually try and do a decent job by informing tenants and landlords of their rights and how best to protect themselves. For those of you who don't know, tenant fees are being banned in June 2019, meaning those astronomical, non-refundable fees are being completely scrapped. Great news for Tenants, not so much for Landlords and Estate Agents. However, if you're on the tenant side of things and are moving/looking to move in the next month, your position of power is great. I am assuming that this is the case for all agents but if we have any tenants that are already booked to move into a property in June 2019, you're getting your fees refunded! Check with your agents and push them on the facts if you have already paid fees. The fine for agents seen to be charging admin fees is hefty, so no one should be trying to sneak any fees in. Also, agents this month will be super flexible on fees as a lot of people will delay their move until June to avoid paying the fees. We still have targets to hit this month so if that means we're knocking off £200-£300 from your fees, then so be it. A lot of agents clearly won't suggest cheaper fees unless you bring it up, but there will be a huge amount of wiggle room, especially if the property isn't available until June. Anyway, I hope someone finds this useful and can save some money. Have a great weekend everyone! Edit - Grammar

UKPersonalFinance

I had this discussion with an agent today. I want to view a property next week, sign contract by mid May to start tenancy first week June they told me they’re still charging fees for any AST signed during May. I’ll be telling them to take a running jump tonight