diff --git "a/reddit_finance_43_250k_82.txt" "b/reddit_finance_43_250k_82.txt" new file mode 100644--- /dev/null +++ "b/reddit_finance_43_250k_82.txt" @@ -0,0 +1,10000 @@ +[Thats money for APES... if true...](https://preview.redd.it/numpaghciis81.png?width=193&format=png&auto=webp&s=c412911806648b9d76d0b571877c66b5069f9ba0) + +Every time an APE DRS - that APE is pulling shares from the 300k... + +How do I know this???? We have sucked up all their shares... + +[Yass sold $4.5 million GME to us short... ](https://preview.redd.it/hbd21h9ejis81.png?width=1235&format=png&auto=webp&s=f77128a8803256876c7f5e38fea7d03bd4aef4a6) + +[They all look the same....](https://preview.redd.it/gwbok670kis81.png?width=1451&format=png&auto=webp&s=de3d5068951d78890a085420dec392c5d950f7fb) + +They all had millions and millions of shares... and now they have 300k... again UBS has 401 shares... why even report that??? + +**Oh you want more evidence to support my thesis...** + +Lets look at trading on FRIDAY - as you all know - we were pinned at $150 - this is a classic case of manipulation - they needed it below $150 on Friday so their options business made money - + +It got super dry FRIDAY afternoon... at some points there was only 1 or 2 trades per minutes on GME. + +https://preview.redd.it/y3kuprehkis81.png?width=387&format=png&auto=webp&s=bb1ed33ece10e32df01390f57e040d0007dc93e8 + +And to keep it under $150 they has to go really hard on options... + +[This was taken around 3:00pm yesterday.](https://preview.redd.it/93ieyzsokis81.png?width=1439&format=png&auto=webp&s=239e9a52e9332c8ebea2cd1868b2587cfa3f0bbf) + +The call IV was 21,000%, and the put IV was 11,000%. This is the highest I ever saw these numbers... + +Its a pressure cooker... + +And to top it all off... they cut retail off from buying the VXX yesterday... and they only cut us off when we are going to make money - So I think the VXX is gonna print Monday - + +And Id assume APES already have 300k shares in transfer/request - + +Looks like MOASS is next week... Get some sun... enjoy your last weekend as a poor. + +Lots of love MilkFUD... + +Edit - thanks for the awards - I love you APES - 🦍 🦧 🦍 drs 💎 🙌🏻 🦍 🚀 🌙 + +Edits - I changed the .004 to .4pct FOR Total Percentage of float - +Edits - the ah price is .0006 not .006 - ah is cheaper than regular hours. +I suspect you aren't the guys telling the rest of us to restart our computer every time there is an issue and then googling the problem when we say we already did the restart. So what is your job? +Your markets are run by bots. Now your daily threads are too. + +[We have an active official/unofficial discord. It's open to all discussions, stonks related and non-stonks related.](http://discord.gg/2sQBNuM) + +Posts relating to the "Is /r/ASX_bets about finance or effect your mental health?" etc will lead to a 1 day ban. +Your markets are run by bots. Now your /r/Asx_bets daily threads are too. + +Read the [wiki](https://www.reddit.com/r/asx_bets/wiki/index/) people[.](https://styles.redditmedia.com/t5_2hqqj5/styles/communityIcon_41pmnaqp4zn41.png?width=256&s=59bf38425fb316fdcba30365b272a5f19352f370) + +[Posts relating to the "Is /r/ASX\_bets about finance or effect your mental health?" etc will lead to a ban of the mods chosing. You have been warned.](https://www.reddit.com/r/ASX_Bets/comments/l0l9et/the_does_asx_bets_effect_your_finances_emotions/?utm_medium=android_app&utm_source=share) + +Automoderator may provide "Guidance" for Lazy and zero effort posting. + +[We have an active official/unofficial discord. It's open to all discussions, stonks related and non-stonks related.](https://discord.gg/wsNDGTf5QH) +Fat lifestyles often come with indulgent expectations, many of which can be rated as unsustainable. I’m curious what your personal journey is towards sustainability (if you have one). + +This could include: things you are willing to pay more money for in order to buy a more sustainable option, things you can afford but decided not to consume because of their footprint, or even things that you know aren’t good but you won’t give up. +Marijuana will soon be legal in the US on the federal level. A bill is already making rounds. + +The marijuana sector has blown up this week following this news. I see a lot of posts asking what’s the best marijuana company right now, the best etf, etc. + +There is only one US-listed ETF that dedicates itself solely to US marijuana exposure, that being MSOS. If you’re buying YOLO, you’re only actually getting Canadian and UK market exposure. + +Personally, I wouldn’t even touch THCX or POTX or even MJ. Their holdings are ridiculously concentrated with a whopping 50% of their weight allocated to the top 5. +Welcome to the Daily General Discussion thread of /r/EthTrader. + +*** + +The thread guidelines are as follows: + +- All sub rules apply here so please review our **[rules page](https://www.reddit.com/r/ethtrader/about/rules/)** to become familiar with them. The rules page is also linked in the announcement bar above. +- This thread is meant to be more relaxed compared to the serious daily thread. Memes, lambos, moons are all welcome. +- If the front page gets overloaded with memes, all but the top two posted and voted on may be removed. Basically, please post memes in this thread first and upvote the best so the mods know which ones to keep if we need to remove a bunch of memes from the front page. + +*** + + Resources and other information: + +* Newcomers who have basic questions about Ethereum can find answers by visiting /r/EthereumNoobies or our [Ethereum Education wiki page](https://www.reddit.com/r/ethtrader/wiki/education). + +* To view live streaming comments for this thread, [click here](https://reddit-stream.com/comments/auto). Account permissions are required to post comments through Reddit-Stream.com. + +*** + +Thank you in advance for your participation. Enjoy! + +Not sure if this is the right place to post this, but: + +I can't say I have ever experienced a shopping problem before. I feel like it's more or less a boredom problem. Instead of reading or drawing or doing something constructive, I tend to head to Amazon and search for arbitrary crap I really don't need. + +Is there a way to curb this? I have always been sort of an impulse buyer, but lately ive been doing it more and more (especially at work when I have nothing to do). + +Anything financial I can do? Like restrict my account to a certain dollar amount a month to spend or... something? I don't have a ton of ideas and would like to hear someone's thoughts on this or maybe share what worked for them or a friend that was going through something similar. + +Edit: oh wow this really blew up. Thanks everyone for your suggestions. There's a lot of great advice in here that I will definitely try and follow. I've already registered for an account on YNAB, unsubscribed fro ma ton of store newsletters, and started an automatic transfer to my savings account after every paycheck. If the money isn't there, I cant spend it, right? +I moved to the beach about 1 year before covid struck. I was living with my parents and shopping/saving for a home. I was looking for almost a year without finding anything I was satisfied with. + +Soon after the lockdowns were over I happened across a new development I hadn't seen because it was out of my price range. When I walked in the houses were very nice and I was shown a lot facing a very large pond and it was 4 houses down from the community center/pool. The price had just been knocked down 10k and the builder was happy to put the bathroom tiles I liked in for free. (Spec Home) + +It was a stretch but I put 10% down and got a 2.99% interest rate on a 30 year. I paid 266k for the property. I'm very happy with my home, location, and neighborhood. + +There are a lot of homes and developments springing up around my neighborhood. A hospital is planned to be built a half mile down the main road, new neighborhoods, new grocery stores, car washes, ect. It's booming here. + +The builder is just about to finish the last phase of homes to close the neighborhood. Several lots are already marked sold. The cheapest new build is now 359k (which happens to be my same model but I have a premium lot, that one faces a right-of-way/power lines). A few months ago a house sold for 50k more than they paid for it near me and now another house was just listed for 399k (which is 140k more than they paid for it!) + +It seems like an absurd amount of equity that I may have lucked into here. I really am not sure how to play this one out. If everything is relative than I wouldn't make any money by selling because an equivalent home (hard to come by) would just cost nearly as much. + +Do I just play a longer game here and wait for market prices to correct, save some money for a possible second home, and then sell when I find another great deal? Or is there something that I'm missing I could possibly do to take advantage of the fact my house may have increase 100k in value? + +**tl:dr -** House I bought 1.5 years ago is now probably worth 100k more than I paid for it and I'm not sure if I'd profit from selling because any alternative property probably an equally inflated value. + +Edit - Thank you for all the advice here. You all have been very nice and helpful. I believe having the home re-appraised to get rid of the PMI is the best move for me right now. + +Looking at building a pure Income portfolio. I'm not looking to achieve growth and income both from the same fund portfolio. For Growth I'm planning to have a separate portfolio. + +Anything that yields 8-10% over the years with not much long term erosion would be ideal. Buying now with discounts galore might help? + +Currently have short listed the following funds to achieve the 2k+ per month goal. 2k per month should translate into 8% annual yield. Will be targeting 10% yield given the drop in fund prices in recent weeks and months. There would be a 15% dividend withholding tax for UK investors- so 10% yield would mean its net 8.5% yield. + +The funds I've researched and short listed are GOF, RA, CLM, (JEPI and JEPQ if broker has them), IEP, ARCC and possibly PDI. Any thoughts /feedback on the allocation? + +Any other suggestions or asset classes that could generate 2k + monthly dividend /income from 300-350k capital with least erosion? + +Cheers! +Been a landlord for just under 3 years now. Figured I would share some recent events to better inform anyone who may be thinking about buying real estate and being a landlord. + +I own 3 houses, one of which I live in and rent rooms out to friends. + +The other two are single family townhomes that are rented out and cash flow about $500/month. One townhomes is worth about 150k, and the other about 230k. I bought the 230k home first, and at the time didn't realize there were other investments that would have net me similar cash flows with less cash into the deal. + +Anyway, if you can do the math, these two rentals net me about $12,000/year. Definitely a nice boost, but not enough to FIRE on, so my plan is to continue buying more properties that cash flow. My rule of thumb is about $500/month free cash flow for every $35k into the deal. This is about a 14% Cash on Cash return. + +Anyway, most of the time things are peachy. I self-manage and pick tenants, and have not had any problems with delinquencies on rent. + +However, about two weeks ago one of my tenants complained of no hot water. Anyone here who is a landlord knows the pang of anxiety you feel when you get one of those messages where something could be majorly wrong. It is important that you are the kind of person who can compartmentalize that anxiety and deal with it in a rational way. + +In that instance, I ended up shelling out $1,900 to have it fixed. I do not have a reliable generalist who can take care of all of my stuff yet, so I'm stuck going to big name companies. + +Two days later, there was a completely unrelated leak in a bathtub that caused water to drip through the floor. My sister was visiting me and I work a full time job, so between not having the ability to take off of work and host my sister, I had to hire a plumber. $500 for something I could've fixed with a bit of putty and a screwdriver, and maybe $15 of PVC at home depot. + +No matter. We're back on track, sitting pretty, just collecting rent checks each month. Right? Wrong. + +Three days later, I get a text from my tenant at the other rental I own. No heat. +The furnace is busted, and now I have to get multiple quotes on repair. I am working late nights at work because of a project I'm on. Fast forward 4 quotes, between $2400 and $4200 for a new furnace, many skipped lunches, "vacation" hours, and long nights later, I've fixed all the issues. But right there goes half a year of profits from deferred maintenance. It's baked into my model so I'm not deterred about profitability, but it still sucks to have to deal with when it happens. + +If you aren't comfortable dealing with unforeseen circumstances (and having them stack up when it's least convenient for you) consider just buying and holding an index fund. +In my day job, I've got minor exposure to the investment space in this country yet the number of times I’ve been given ‘maybe don’t trade on this information’ type information is a joke. I don't act on it as I'm a boring ETF man but what chance do us retail investors have if institutional investors are always sharing information with each other that’s out of reach of us peasants? +Youtube and Google are kind of useless for this, you just end up with people either humble bragging or trying to sell you something. + +What kind of things would it take to eventually get to $2k-$3k per month of passive income? Aside from something like buying a $1 million office block and renting it out? (i'd need a mortgage to cover the deposit, let alone the rest of it :P) +Evergrande defaulted, inflation is up in record high numbers past 20 years, markets keep hitting all time highs, GME is crashing, and we are all sitting here waiting + +Just like the end of The Big Short, where they start getting frustrated why NOTHING IS HAPPENING. + +Well, history repeats itself, we've been here before, we're here again, we know how the game will play out + +It will happen my dudes and dudettes, the market will collapse. We will become millionaires. But we will not dance + +Be zen, hodl and drs +Long time lurker, decided to create an account. You guys have been absolutely amazing and I CANNOT discuss this with my current friends/family due to the disparity of income. + +I am a 37 year old attorney, married, one child, who recently made partner at a profitable firm. When I graduated in 2012 I had 100k+ in student loans and was making peanuts. Since joining this firm, my income has absolutely skyrocketed. Here's what I've made in the past four years before taxes: + +* 2016 - $400,000 +* 2017 - $600,000 +* 2018 - $850,000 +* 2019 - $950,000 + +For 2020, total compensation will be 1.5 million, including partner distribution. + +I have $980,000 in cash/CDs and $300,000 in 401k, and on paper I own $1.5mil in shares of my firm (buyout amount). I would like to follow the index-fund route but do not want to invest yet because I'm terrified of an over-inflated market. Student loans are paid off. + +We live in the same house since 2012, which we purchased for $350,000, now worth $500,000. The home is small and we are running out of room. I'd like to upgrade but am very cautious about over-indulging. On paper I can afford a $4-5 million home but I'm not about to jump into that kind of commitment when my revenue is based on one stream. I was thinking looking in the range for a 1.5-2.5 mil home. + +My wife and I have told no one about the increase in income and we have not noticeably increased our spending - no fancy cars or flaunting our wealth. Our closest friends and family have noticed an extra vacation here and there but that's it. We are weary of what's to come when we finally make a lifestyle adjustment. I think the purchase of a new home is going to come across as a shock to everyone we know. + +The money has had its psychological toll as well: I recognize this is AMAZING money, but I look at it with suspicion and think it could all go away at any time. I'm terrified that the second I buy a home something horrible will happen w/ a job loss or the housing market falling out. + +Can anyone offer some advice? When did you finally feel comfortable purchasing the dream home? When did you feel that you saved enough? Are there any pitfalls I should be aware of? +Welcome to the Daily General Discussion thread of /r/EthTrader. + +Find the latest Daily Altcoin Discussion thread by selecting the top result on this [search page](https://www.reddit.com/r/ethtrader/search?q=Daily+Altcoin+Discussion&include_over_18=on&restrict_sr=on&t=all&sort=new). + +*** + +The thread guidelines are as follows: + +- Please refrain from discussing non-Ethereum related tokens here. You are welcome to discuss altcoins in the Daily Altcoin Discussion thread. +- All sub rules apply here so please review our **[rules page](https://www.reddit.com/r/ethtrader/about/rules/)** to become familiar with them. The rules page is also linked in the announcement bar above. +- If the top page becomes overloaded with memes, all but the top two voted may be removed. If we need to remove a bunch of memes from the top page, post memes in this thread first and upvote the best so the mods know which ones to keep + +*** + + Resources and other information: + +* Newcomers who have basic questions about Ethereum can find answers by visiting /r/EthereumNoobies or our Ethereum Education wiki page, [see here](https://www.reddit.com/r/ethtrader/wiki/education). + +* To view live streaming comments for this thread, [click here](https://reddit-stream.com/comments/auto). Account permissions are required to post comments through Reddit-Stream.com. + +*** + +Enjoy! + +What can I say. A bunch of us Best Friends got together and decided to make $CUPCAKE. We love working together so much but realized that all the expensive marketing that goes on in Crypto doesn't directly benefit the holder. What does a very EXPENSIVE Billboard do for your bottom line? + +&#x200B; + +We value the opinions and the hard work that our dedicated holders do for us and we just LOST OUR MINDS and decided to do the BIGGEST....CRAZIEST....GIVEAWAY YOU'VE EVER SEEN!!!! + +&#x200B; + +LOOK AT WHAT WE ARE DOING!!!!!! + +&#x200B; + +As always DYOR & NFA + +&#x200B; + +MARKETCAP GOALS + GIVEAWAY ITEMS + +💖500k MC - win: GAMING CHAIR, COOKING MIXER + +❤️??? MC - win: NINTENDO SWITCH + +🧡??? MC - win: OCULUS VR HEADSET + +💛??? MC - win: $1,000 Gift Card + +💚??? MC - win: PLAYSTATION 5 + +💙??? MC - win: SAMSUNG PHONE + +💜??? MC - win: MACBOOK AIR + +🤎??? MC - win: 5x's $1,000 Gift Card + +💖??? MC - win: SAMSUNG ODYSSEY G9 49" CURVED + +❤️10 mil MC - win: VESPA + +🧡??? MC - win: HIGH END GAMING PC + +💛??? MC - win: DIAMOND INFINITY BAND + +💚??? MC - win: 50 PEOPLE TO WIN 50 TV'S + +💙??? MC - win: 50 PEOPLE TO WIN 50 IPHONES + +💜??? MC - win: ROLEX WATCH + +🤎??? MC - win: TESLA + +💖??? 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Selling or transferring out of your wallet just 1 single $CUPCAKE will disqualify you. + +📌Contest entries do not expire until we reach 500mil MC + +📌Winner is responsible for any and all tax declarations or deductions relevant in their jurisdiction + +📌We reserve the right to amend or withdraw any of the prizes at any time + +📌all prizes can be offered in their equal value of crypto currency if the physical item is not attainable, however the team will do their utmost to secure the item. A choice will be given to the winner. + +📌One Winner Per Item unless otherwise stated. + +&#x200B; + +How are we going to give this stuff away?? + +👉🏽We need your help!! Tell ALL YOUR FRIENDS!! + +👉🏽SHILL, Like, Repost, Upvote EVERYTHING about $CUPCAKE + +👉🏽Do your part and you will be closer to winning COOL SHIT!!! + +&#x200B; + +&#x200B; + +&#x200B; + +$CUPCAKE is an Automated 🥞 $CAKE rewarding Token! By holding 200,000 Tokens you receive a part of the 7% Reward from the Tax + +&#x200B; + +🧁The Icing on Top🧁 + +Marketing is in Progress (CMC & CG Applied) + +Partnered with Shibance + +AMA's are getting Booked as i write this down! + +Cupcake Smash Game (Like CandyCrush) with Weekly winnings of the Top 3 Highscorers in $CAKE + +&#x200B; + +🧁The Ingredients🧁 + +Total Supply: 100,000,000,000 + +Team/Partner: Allocation (8%) + +Tokens for Pancake Listing 92,000,000,000 (92%) + +Liquidity Locked: 100% - Unlock period: 1 Year + +&#x200B; + +🧁Tokenomics🧁 + +15% Tax + +7% CAKE is redistributed to holders + +3% goes to the Mixture in the form of Liquidity + +5% Cake is allocated to the shop's buy back / marketing wallet + +&#x200B; + +🧁$CUPCAKE is a 🥞 CAKE reflection token BUY HODL EARN + +Community Driven! + +NFA&DYOR + +&#x200B; + +Follow, Like, Comment on our Socials! + +Website: [https://cupcakecoin.io/](https://cupcakecoin.io/) + +TG: [https://t.me/cupcakecoin\_io](https://t.me/cupcakecoin_io) 🇬🇧 + +TG: [https://t.me/CupcakeCoinCN](https://t.me/CupcakeCoinCN) 🇨🇳 + +TG: [https://t.me/cupcakecoinJP](https://t.me/cupcakecoinJP) 🇯🇵 + +TG: [https://t.me/CUPCAKECOININ](https://t.me/CUPCAKECOININ) 🇲🇨 + +Website: [https://cupcakecoin.io/](https://cupcakecoin.io/) + +Game: [https://play.cupcakecoin.io/](https://play.cupcakecoin.io/) + +&#x200B; + +Contract = 0x5d74b0f8c474f96e093c70b507452399573cff73 +I just want you to know that years from now, when we are all paid off on our debt, and starting businesses, and buying homes and apartments and paying for pet surgery and medicine, back rents and back mortgages, daycare and baby food and 529c's, brand name meat for dinner... + +I will remember this moment. You will remember this moment. Let us bask in this glory forever 🚀🚀🚀🚀 + +💎✋ to infinity and beyond + +**We like the stock** +Mom is 63.  She has worked at a large Fortune 500 company for 30+ years.  Plans to retire and start taking Social Security at age 65.  Her defined benefit pension will be approx $60k per year.  She has approx $400,000 in her 401k, ***but it's all invested in one stock (the company she works for).***  + +Dad is almost 67 and doesn't work anymore.  He worked a lot of odd jobs, ***never contributed to an IRA, has no 401k,*** and got laid off from his last job at age 62, so he started taking Social Security as early as possible (about $1,500 per month). No other source of income besides SS. He will get some money when my grandma passes away and her house is sold (but probably not even enough to pay off the current mortgage - see below.) + +Neither has any significant health problems, thankfully.  Unfortunately, they still owe about $250k on their mortgage with a ***maturity date of 2041***.  (My dad refinanced late in life to get rid of credit card debt. He's always been terrible with money.)  It is their only debt.  The mortgage is approx $2k per month, and their property taxes are relatively low. + +***I'm 35 with a stable job and good income & benefits.***  My only sibling is 38 but has a terrible employment history and no savings, definitely in no position to help me support my parents financially if that becomes necessary. + +# What steps, if any, should I take to plan for the next 15-25 years of my parents' lives, assuming they live that long? +I simply post this as an example of my scenario, and how twists and turns have effected me. I sold my home in late 2020 thinking the market had topped. I made a substantial gain and still don't have any regrets, but left quite a few bucks on the table if I had held. I sold my business in early 2021, went fully liquid and put about 60% of my funds in the market. ( Consevative stocks leaning toward banks, apple, brk b etc. ) I moved from high cost CA to TX with no state income tax. Fatfired and hung it up. My wife and I decided to rent in a nice area. Our thinking was that we wanted to get the lay of the land, and... find the right area with some patience. I was riding emotionally high as my portfolio was up over 30%. We started looking at even higher priced homes ( which we really don't need) much to my wife's excitement. We then statred looking at doing a PAL with Schwab since we retired and had no income. I had reservations because we were in a 1 year lease and didn't want to potentially pay for a home and a lease. We decided to stand pat. Since then that 30% gain is almost gone. We are still in our lease until the end of the year, and have started to again look for a home. All of this in the first year of not working since I was 16. I'm very thankful for what I have, but I'm still up at 5:30am every day with not much to do. My mind has yet to slow down, going out to eat and traveling gets old quick, and Saturdays and Sundays seem like every other day. I still have not gotten use to spending money while not earning it, even though money is not a proplem. Anyone else out there experienced mental struggles in their first year of fatfire, and if so.. did you turn it around? +I had a Stop loss set on GBPUSD Long and when it was supposed to hit the stop the stop automatically cancelled itself 10 milliseconds after the price went below my stop. + +&#x200B; + +The market wasn't making any big moves during that time at all. + +The following day I woke up to having around £200 in equity instead of having around £5000 + +&#x200B; + +[https://i.gyazo.com/f1f4794b0d37afbc98905dd034b9348b.png](https://i.gyazo.com/f1f4794b0d37afbc98905dd034b9348b.png) + +As highlighted in the screenshot above I was getting Smart-Stop outs which were modifying the Stop-Loss every time Smart-Stop out was triggered, It wasn't done by me or any bots, but rather that's what was being done automatically by their internal operations. + +But as soon as price fell below my stop it removed and ignored my Stop. (which shouldn't be possible as you can't cancel a stop loss once the price has went below it), to further prove my point I did not use any opposite side or double tick stop loss, but the default one. + +&#x200B; + +Also confirmed by my log that I have set my stop and never removed it: + +[https://i.gyazo.com/8cb3be0d1117f56696cd8b3b050de680.png](https://i.gyazo.com/8cb3be0d1117f56696cd8b3b050de680.png) + +&#x200B; + +I contacted them and explained the whole situation, and they had the nerve to link me to "what is a stop loss is" as if I have no clue what it is... yes I do and you cancelled it.: + +[https://i.gyazo.com/7b1971deb2e5b4f62a8b53f5c8422112.png](https://i.gyazo.com/7b1971deb2e5b4f62a8b53f5c8422112.png) + +&#x200B; + +Then I sent this reply, (showing key points I made): + +[https://i.gyazo.com/db1d8ea1f14dfe8382c1bf3760122430.png](https://i.gyazo.com/db1d8ea1f14dfe8382c1bf3760122430.png) + +[https://i.gyazo.com/39a41f00c44febf5c1805b58f0e425e5.png](https://i.gyazo.com/39a41f00c44febf5c1805b58f0e425e5.png) + +&#x200B; + +Their reply: + +[https://i.gyazo.com/eaa86c67501f7ad75ffe7c0fb0b8146a.png](https://i.gyazo.com/eaa86c67501f7ad75ffe7c0fb0b8146a.png) + +&#x200B; + +I think its a glitch on their end, but you never know if they remove stops on purpose, that's why this is totally unacceptable. + +I wrote this article to show some warning to others and also to document this case and perhaps gain some support against them. + +&#x200B; + +I will update as this case goes on. + +&#x200B; + +I Sent them this: + +[https://i.gyazo.com/18bb41936192309495626503d42d9e6d.png](https://i.gyazo.com/18bb41936192309495626503d42d9e6d.png) + +&#x200B; + +UPDATE: + +Their latest reply: + +[https://gyazo.com/0b084be08ec4e4f6fdb3b3c05c9ca60d](https://gyazo.com/0b084be08ec4e4f6fdb3b3c05c9ca60d) + +My replies: + +[https://gyazo.com/365d8268dd8dbe51a67084c9d92410d8](https://gyazo.com/365d8268dd8dbe51a67084c9d92410d8) + +[https://gyazo.com/a8b458c90de211ed2000f651662e26bd](https://gyazo.com/a8b458c90de211ed2000f651662e26bd) + +&#x200B; + +Thanks for reading! :) + +Posted on FPA!: + +[https://www.forexpeacearmy.com/community/threads/icmarkets-removed-my-stop-loss-resulting-in-approximately-5000-of-extra-losses.59369/](https://www.forexpeacearmy.com/community/threads/icmarkets-removed-my-stop-loss-resulting-in-approximately-5000-of-extra-losses.59369/) +Hi guys, why is technical analysis so popular these days? + +I mean, technical analysis doesn't make any sense and watching candlestick charts with daily volume will not tell you absolutely anything about the company, and it certainly doesn't predict the future. + +Thank you for the answers. +I notice that there is a lot of confusion on what is meant by value investing. Folks often end up talking past eachother. + +I believe this is because there are two general types of value investing + +1. statistical or quantitative value +2. Intrinsic value + +Warren Buffett practices intrinsic value investing. He is attempting to look at discounted future cash flows from a business and buying "the most future cash flows for the cheapest price". + +Quant/value investors (such as most "value" funds) are looking at how stocks rank based on financial ratios. For example, if a stock is "cheap" in P/E, EV/EBITDA vs. a ranking of all stocks, it is a "value" stock. + +These are two completely different types of investment strategies. + +To a intrinsic value investor, the statistical properties of a company don't tell much about it's intrinsic value. For example, a statisically cheap stock often has poor quality earnings or a declining business, causing the real present value of future cash flows to be overpriced. + +A more detailed and accurate description of this distinction can be found at Tren's Griffin's blog here: + +[https://25iq.com/2014/03/16/ben-grahams-value-investing-≠-famafrenchs-factor-investing/](https://25iq.com/2014/03/16/ben-grahams-value-investing-≠-famafrenchs-factor-investing/) + +&#x200B; + +IMO this is worth considering and perhaps a more clear understanding could aid in productive discussions here. +So here's the deal, I don't really believe I'll ever see my pension. A lot of people my generation don't either, anecdotally. The world is in crisis, climate change is coming... I'm not sure I believe in the capacity of states to a) not collapse in some way, and b) not go full right-wing and ruin our pensions one way or another (I'll let your imagination think of scenarios) + +That's obviously pretty pessimistic, but at the end of the day, I don't understand why people take the stability and availability of pension money for granted? I see it as a form of very long term gambling, and I see it as kind of risky given the direction the world is going. + +It is effectively giving your money to private companies on a 40-50 years loan with _no way_ of taking any of it out until the time comes. What if that money, or the infrastructure around it, stops existing by then? What if things go really bad and you need that money earlier? What if the age you can access it keeps being pushed away? What if life expectancy goes down in the next few decades because of all the crisis coming and you become unlikely to ever live to use it? What if mega-inflation? + +This is why I've been mostly ignoring my pension and keeping it to the normal minimum contribution + investing my money myself. + +What do you think? +...networking components, controllers, chairs, desks, lighting... and if you don't want to build it, pre-builts and laptops, too. + +[front page of PC section of GameStop.com](https://preview.redd.it/468176y19gh81.png?width=1444&format=png&auto=webp&s=7b6b16b34f52900407de1287e3245c42a573d4df) + +They list video cards but they're all sold out, you know how hard those are to come by EVERYWHERE so that is what it is. Would be cool if they started getting into the GPU restock game and kept their prices at MSRP... + +You could put together a whole PC. Just for fun, I want to see what kind of gaming-centric system I could throw together from in-stock at GameStop right now: + +[all the components on pcpartpicker](https://preview.redd.it/zoj2jac49gh81.png?width=1935&format=png&auto=webp&s=b2a4c369375db783a94f7e2d7211ee9c39a1bd30) + +|Type|Item|Price| +|:-|:-|:-| +|**CPU**|[Intel Core i7-12700K 3.6 GHz 12-Core Processor](https://www.gamestop.com/pc-gaming/pc-components/cpu/products/intel-core-i7-12700k-cpu-12-8p4e-cores-up-to-5.0-ghz-unlocked-lga1700-intel-600-series-125w/325953.html)|$374.99 @ GameStop| +|**CPU Cooler**|[Cooler Master Hyper 212 RGB Black Edition 57.3 CFM CPU Cooler](https://www.gamestop.com/consoles-hardware/desktops-laptops/pc-components/cooling/products/cooler-master-rr-212s-20pc-r1-hyper-212-air-cooler-rgb-fan-black-edition-3dt006/185243.html)|$49.99 @ GameStop| +|**Thermal Compound**|[Cooler Master MasterGel Maker 1.5 g Thermal Paste](https://www.gamestop.com/consoles-hardware/desktops-laptops/pc-components/cooling/products/cooler-master-mastergel-maker-high-performance-thermal-grease-mgz-ndsg-n15m-r2/221041.html)|$15.22 @ GameStop| +|**Motherboard**|[MSI PRO Z690-A DDR4 ATX LGA1700 Motherboard](https://www.gamestop.com/pc-gaming/pc-components/motherboards/products/msi-pro-z690-a-lga-1700-atx-motherboard/325954.html)|$229.99 @ GameStop| +|**Memory**|[Crucial Ballistix 32 GB (2 x 16 GB) DDR4-3600 CL16 Memory](https://www.gamestop.com/consoles-hardware/desktops-laptops/pc-components/memory/products/crucial-ballistix-2x16gb-32gb-kit-ddr4-3600mt-s-cl16-gaming-desktop-memory-kit/330947.html)|$169.99 @ GameStop| +|**Storage**|[Samsung 980 Pro 1 TB M.2-2280 NVME Solid State Drive](https://www.gamestop.com/pc-gaming/pc-components/hard-drives-ssds/products/samsung-980-pro-1tb-pcie-4.0-nvme-m.2-internal-v-nand-solid-state-drive-playstation-5-compatible/310255.html)|$149.99 @ GameStop| +|**Video Card**|[EVGA GeForce RTX 3080 10GB 10 GB FTW3 ULTRA GAMING Video Card](https://www.gamestop.com/consoles-hardware/desktops-laptops/pc-components/video-cards/products/geforce-rtx-3080-ftw3-ultra-gaming-graphics-card/309408.html)|$836.99 @ GameStop out of stock| +|**Case**|[Cooler Master MasterBox TD500 Mesh w/ Controller ATX Mid Tower Case](https://www.gamestop.com/consoles-hardware/desktops-laptops/pc-components/cases/products/cooler-master-masterbox-td500-mesh-airflow-black-mid-tower-gaming-desktop-case-mcb-d500d-kgnn-s01/277490.html)|$123.99 @ GameStop| +|**Power Supply**|[Enermax Revolution D.F. 850 W 80+ Gold Certified Fully Modular ATX Power Supply](https://www.gamestop.com/consoles-hardware/desktops-laptops/pc-components/power-supplies/products/enermax-revolution-df-850w-80plus-goldfullmodular-multi-12v-rail-twister-bearing-power-supply-fan/296952.html)|$109.99 @ GameStop| +|**Case Fan**|[Cooler Master SickleFlow 62 CFM 120 mm Fans 3-Pack](https://www.gamestop.com/consoles-hardware/desktops-laptops/pc-components/cooling/products/cooler-master-sickleflow-120-argb-3-in-1-fan-mfx-b2dn-183pa-r1/285381.html)|$40.16 @ GameStop| +|**Monitor**|[MSI Optix MAG321CQR 31.5" 2560x1440 144 Hz Monitor](https://www.gamestop.com/consoles-hardware/desktops-laptops/monitors/pc/products/msi-32-in-optix-mag321cqr-wqhd-2560x1440-144hz-curved-gaming-monitor-optixmag321cqr/215181.html)|$284.99 @ GameStop| +|**Keyboard**|[Corsair K68 RGB Wired Gaming Keyboard](https://www.gamestop.com/pc-gaming/keyboards/products/corsair-k68-rgb-mechanical-wired-gaming-keyboard/322965.html)|$119.99 @ GameStop| +|**Mouse**|[Corsair SCIMITAR RGB ELITE Wired Optical Mouse](https://www.gamestop.com/pc-gaming/mice/products/corsair-scimitar-elite-wired-gaming-mouse/322941.html)|$72.83 @ GameStop| +|**Headphones**|[Corsair VOID RGB ELITE 7.1 Channel Headset](https://www.gamestop.com/consoles-hardware/desktops-laptops/pc-headsets/products/corsair-void-rgb-elite-wireless-gaming-headset-with-7.1-surround-sound/309207.html)|$79.99 @ GameStop| +|**Total**|**$2659.10**|| + +A couple of notes on this for-fun hypothetical build: + +If you prefer liquid cooling, there are plenty of AIOs to choose from, and you could change to a less air-flow case (I went with a mesh case since I was air-cooling my CPU). + +I prefer all my peripherals (keyboard/mouse/headset) to use the same software, so I went with a Corsair-heavy setup. Gotta have that MMO mouse with all the side buttons. + +The LGA1700 motherboard provides a lot of future-proofing with support for pcie 5.0, DDR5 ram compatibility. + +The motherboard doesn't have built-in WIFI, so that would be an additional add-on card if you aren't running an ethernet cable from your modem/router. + +ANYWAYS, this was just something fun for me to do on a Saturday morning but also to show that GameStop is not just a console-centric retailer, you can build out an entire PC if you wanted. I got a lot of hate for saying this on another sub but my point stands: if you're looking for another good retailer for PC components, don't overlook GameStop. +Information provided in this post is my opinion on potential estimates of what the ownership makeup of GME may look like at this point in time. This is the 3rd time I have calculated the estimated retail ownership of GME over the past year since getting involved in December of 2020, and each time the numbers have been relatively in the same ballpark. + +I am using data from MergentOnline which is an online database ran by FTSE Russell, or the group that runs the Russell 2000 index. I have personally contacted Mergent and FTSE Russell about this topic, and they did not shoot down my thinking but more or less confirmed it. The gentleman at Russell told me they have a dedicated data team that combs through SEC reports and speaks directly with the issuers/hedge funds themselves to update data as frequently as every 15 minutes. + +I will not review the math behind my calculations because I have covered it in a previous post, honestly it's pretty simple math using proportions. My previous post can be found [Here](https://www.reddit.com/r/Superstonk/comments/nneevk/gme_ownership_analysis_528_hedgies_r_fuq/). + +&#x200B; + +[Outstanding Shares](https://preview.redd.it/gnlqivuvkk581.jpg?width=3666&format=pjpg&auto=webp&s=cf88b25a07b1f1a718befa9bd61e9e9b677e2619) + +We can see from the screen shot above that outstanding issued shares by GameStop is reported at 76,351,000. More or less this is around where the actual number is reported by GME (may be 77MM). + +&#x200B; + +[Insider Ownership](https://preview.redd.it/7erxc08hmk581.jpg?width=3703&format=pjpg&auto=webp&s=89873948b8dbfd2e992141e5c4075fdf824eb0d0) + +The above graphic states that GME insiders directly own 8,013,099 shares or 10.5% of the company. The math checks out with the stated issued number of shares (10.5% of 76 million is approximately 8,016,885). The interesting part of this graphic is that it is only DIRECT insiders. Indirect Insiders hold much more than 8MM shares, an extra 15MM to be exact. For an example, RC Ventures is not listed as a Direct Insider Holding. When considering both direct and indirect insider ownership this brings the Total Insider Ownership to approximately 23,773,769 shares. So now that we have an idea of what insiders may hold, let's check out Institutional ownership. + +&#x200B; + +[Institutional Ownership](https://preview.redd.it/rx48br43nk581.jpg?width=3712&format=pjpg&auto=webp&s=13b4ab71d5570fec058c7a06af86a5fef4ad3c73) + +Once again, Institutional Ownership is where things start to get really wonky to me. The Institutional Ownership page shows a total of 50,371,590 shares owned by Institutions, at 27.94% of the company. + +When calculating the "Total Shares" a proportion is set up that looks like the following: + +&#x200B; + +[GME Maths](https://preview.redd.it/ojr2c077pk581.jpg?width=2830&format=pjpg&auto=webp&s=4a02d3c4a2108ffd5d8da56941051eec66a9e6d1) + +This calculation gives us a total estimated shares value of 180,284,860 which is a number we can work back from to attempt to estimate retail ownership of GME. + +1st institutional ownership is deducted from the total: + +180,284,860 - 50,371,590 = 129,913,270 estimated shares without institutions + +&#x200B; + +2nd Insider shares (total insider shares) are deducted from the remaining share balance of 129,913,270 - 23,773,769 = 106,139,501 estimated shares in retail hands. + +&#x200B; + +If Mergent/Russell is even REMOTELY close with their data.. retail supposedly owns more than 135% of the entire company. + +Somone got themselves in deep and hasn't let their foot off of the gas yet. Best of luck to everyone. + +\*This is not financial advice, individuals please make your own educated decisions on how to handle your personal investments\* + +I am always open to questions or constructive criticism. + +\- H3RB +Hi all - + +Does anyone have any tips, suggestions, or resources on recalibrating one’s expectations and spending? + +I have left a high paying job, and there will likely be a few lean months before getting the furnace going again. + +I am aware intellectually of my cash flows and net worth, but I am having a really hard time psychologically suddenly caring about expenses that were always a non-factor. + +Just today, I was filtering $800/nt hotels as reasonable. I’d love to get back to where I was 10 years ago when a $150 hotel was “nice.” (Accounting for inflation of course, ha.) + +I will just have to hold myself accountable and think of each expenditure, but am also wondering if there are tips from the community or if anyone has been through something similar. Thanks. +Background: California condo. Current rent is $1900 and has stable tenants completing their 2nd 1-year lease in April 2020. They will very likely be staying for another year, but they have been pretty open with us regarding starting a family and potentially being interested in starting a family. It's a one-bedroom so they will probably be looking to move if that happens. + +Due to an increase in HOA fees for us, we are going to increase the rent at the end of the lease. I've seen templates for this, but haven't seen one for how we want to do it. + +Basically, we want to offer a month to month lease with a 5% increase, or they can sign another 1 year lease for a 3% increase. + +What's the best way to go about putting this in a document for them? +I spent 7 years in Australia, living relatively frugally in Sydney, an expensive city. The weather was always wonderful and there were miles and miles of beautiful beaches. I biked to work and had a flatmate (roommate). We lived by a bay where I watched the sun setting and the pelicans flying in for the night. + +I saved $100,000 living like that. Then, after 7 years, I became a naturalized citizen of Australia. Around the same time, I lost my job due to the economic downturn, but I got a severance package. So another $100,000, straight in the bank, still there too, with interest. Found a new job a week later and got a $10,000 per year raise too. + +My fiance dumped me when I lost my job (when it rains it pours), I didn't like the new job so much, and this was at the same time US real estate had crashed to the bottom. My brother's wife was selling foreclosures for Fannie Mae through a contract company. She was pregnant and couldn't keep up. My brother said come on back and help us out. So I moved to the Rocky Mountains and learned to be a real estate agent, mostly taking the courses online. I sold foreclosures and short sales, bought a condo of my own, and found a regular job on the night shift at a local factory. This condo was right downtown, new construction, a luxury condo, near everything good, but the building was only half full. Nobody was buying them, except fools like me. I thought it was awesome and it seemed cheap for what it was with floor to ceiling windows and spectacular views of the snow covered Rocky Mountains. It had a swimming pool, hot tub, a gym, and I could walk to bars and restaurants. + +Two years went by and I just kept on saving. Still biked to work, but also bought a motorcycle. I was the only real estate agent who used a motorcycle, lol. I didn't really see myself as a real estate agent, that was always temporary. In my mind, I was just helping people sort their way out of a crisis. My real job was on the night shift, in the factory. Then a facebook friend from my old job in Australia (the one that laid me off) told me she'd just turned down a job offer in Indonesia with our old boss. She had little kids and couldn't do it. It sounded great to me, so I sent him an email. + +I got the job, incorporated myself one afternoon, and moved to Indonesia. Suddenly I was a genuine independent international consultant for a big time Dow Component company, on the preferred vendor list. The deal was I worked for 1 month, then I was off for 1 month, then another month of work, another month off. I did that for 4 years. During that time, I spent 800+ days in hotel rooms. I never went home. I rented out the condo. It's been occupied 100% of the time since then and the rent covers all the costs, plus I make a little bit too. + +Then I got married. I was 39 years old by then. I rented a house on a golf course in Indonesia, adjusted my contract with the company, bought a minivan, and started working full time again. We had two babies almost immediately. + +After the second baby was born, the company offered me a full-time in house job in Singapore, maybe the best city in the world all-around. Since mama didn't raise a fool, I left that consulting gig behind. It was a good run, but trading the chaos of Indonesia for the stability and lifestyle of Singapore with two babies was a no-brainer. + +So now I'm 41 years old and I live in a rented apartment in Singapore. My savings is just shy of the 2 comma number, but not by a lot. We have a live-in maid/nanny. My wife doesn't work. My job is pretty intense at times, but I am proud to have it and enjoy the opportunities for learning that it provides. They pick me up for work with a shuttle service in the morning and drop me off again at night, so I don't need a car. After the sun sets, I put my 2 year old on the back and we bike ride a little ways down the bike path and up a hill and look out at the boats floating by on the South China sea before bedtime. + +Before lunchtime today, I have heard my 2 year old greet his visiting grandparents in Arabic, count in English, express his thanks in Mandarin, ask for food in Javanese, and tell his mom he was finished taking a bath in Bahasa Indonesia. He only turned 2 this month. + +I don't really aspire to retire, I just want to do what I want, or what I like. Ever since I had no debt and $4,000 in the bank for emergencies when I was 27, that's what I do, what I want. Work brought me to all these places and plugged me into the community, made me a contributor. Every place I went, I made it better and contributed somehow. I made real friends, people I worked with and lived with too. + +Airplanes changed the world, and that's only really happened in the last 50 years. People buy a round-trip ticket and they go on a tour and take some pictures. I do that too. It's really fun, but I sometimes think how it's really different from how it used to be. Not so long ago, people got on a boat and left, maybe forever. They didn't look back. That's how I thought of it, I just don't look back. I might go back, but not in a backwards direction, just because the world is round. + +I got a lot of passport stamps I guess. I don't know how many, fewer than a lot of people though since that was never my goal. I think probably 20, maybe 30 countries. Here's a picture of how I multiplied my US passport since 2004. There's a lot of access represented in this photo to education, healthcare, ownership of homes and businesses, etc. I couldn't put a number on what it's all worth, priceless I think. + +https://imgur.com/7DGTkFs +I’m starting an account for my son who will be turning 5 this year. The purpose of the account is to help give him a head start in life. So that I can set it and forget it, all stocks will be divided stocks set to drip. + +Currently I’m looking at ARCC, T, ARKF & KMI. Starting with 1k, buying 10 shares of each and then seeing what is left over. If the funds are there, I was going to toss 1 share (maybe two) of ABBV or MO in there as well. + +As I can, I’ll add (hopefully) between 1200.00 - 5000.00 a year to help it grow. + +I know that the market is crazy right now, so maybe I should wait? 🤷‍♂️ + +Thoughts and suggestions are always appreciated from this great community. +https://www.congress.gov/bill/115th-congress/senate-bill/1241/text#toc-idea0e9489fc8f46379f95bb56c8bbbda5 + + +This is a new bill that was introduced on the floor of the US Senate entitled, +“Combating Money Laundering, Terrorist Financing, and Counterfeiting Act of 2017.” + + +It basically says everything is evil.. + + +1. Cash is Evil + +2. Bitcoin/Crypto is Evil + +3. Prepaid Phones are Evil + +4. Gift Cards/Vouchers/Coupons are Evil + + +These people are certifiably insane. Among the bill’s sweeping provisions, the government aims to greatly extend its authority to seize your assets through “Civil Asset Forfeiture”. + + +Civil Asset Forfeiture rules allow the government to take whatever they want from you, without a trial or any due process. + + +This new bill adds a laundry list of offenses for which they can legally seize your assets… all of which pertain to money laundering and other financial crimes. + + +Here’s the thing, though: they’ve also vastly expanded on the definition of such ‘financial crimes’, including failure to fill out a form if you happen to be transporting more than $10,000 worth of ‘monetary instruments’. + + +Have too much cash? You’d better tell the government. + + +If not, they’re authorizing themselves in this bill to seize not just the money you didn’t report, but ALL of your assets and bank accounts. + + +They even go so far as to specifically name “safety deposit boxes” among the various assets that they can seize if you don’t fill out the form. + + +This is unbelievable on so many levels. + + +It’s crazy to begin with that these people are so consumed by the fact that someone has $10,000 in cash. + + +But it’s even crazier that they’re threatening to take EVERYTHING that you own merely for not filling out a piece of paper, without any due process whatsoever. + + +CALL YOUR CONGRESS MEN AND SENATORS TO TELL THEM TO NOT SIGN THIS EMAIL WORKS ASWELL +https://www.congress.gov/bill/115th-congress/senate-bill/1241/text#toc-idea0e9489fc8f46379f95bb56c8bbbda5 + + +Oh, and on top of civil asset forfeiture penalties, there are also criminal penalties. + + +Right now according to current law they can imprison you for up to FIVE YEARS for not filling out the form. Five years. + + +But apparently that doesn’t go far enough so this bill aims to double the criminal penalty to TEN years in prison. + + +Further, their bill wants to pull any business which “issues” cryptocurrency under the anti-money laundering regulatory umbrella. + + +Here’s where these people demonstrate that they have no idea what they’re talking about. + + +No one “issues” Bitcoin. There’s no Bitcoin central bank. There’s no Chairman of Bitcoin who decides on a whim to increase the supply. + + +Bitcoin is created automatically amounts that are predetermined by its code. It’s software. + + +So the Senate is essentially trying to force the Bitcoin core software to comply with money laundering regulations. + + +The bill also attempts to drop a major bomb on Bitcoin by including it in the list of monetary instruments that must be reported when entering or leaving the US. +For over a year, I have asked GME to moon so that I can stop waking up to an alarm clock at 2:45 in the morning. I yearn for the day that I can turn it off. Is today the day? I seriously can't with my emotions right now. Absolutely trying to keep them in check and handle expectations, but with RC buying more stock, with the beta of the NFT marketplace website out (astronaut by the way on the front of the website), I am just... I can't. To be able to support my family, to be able to finally be done this bullshit... I am so fucking excited. Had to get this off my chest. I love you guys so much. The ONLY depressing thing is that I just couldn't afford more than 70 shares. They are all DRS'd tho and fore that I am grateful. Much Love!!! +[\[Part 1\]](https://www.reddit.com/r/Superstonk/comments/nt8ot8/rip_uleavemeanon_where_are_the_shares_part_1/) + +[\[Part 2\]](https://www.reddit.com/r/Superstonk/comments/nt8qzj/rip_uleavemeanon_where_are_the_shares_part_2/) + +&#x200B; + +Hi all, + +There were a lot of apes in the daily discussion thread wondering why the DD by [/u/leavemeanon](https://www.reddit.com/u/leavemeanon/) was gone. Turns out they've deleted their account for some reason, along with their posts. I did a bit of digging and managed to recover their posts (shoutout to [https://camas.github.io/reddit-search](https://camas.github.io/reddit-search)), which I'll be shamelessly reposting as there seems to be some demand: + +https://preview.redd.it/cac5evmlcj371.png?width=800&format=png&auto=webp&s=167ecf5eb769ad66b6e700dec4c01ab5451f47ef + +So, without further ado: + +\----- + +## TLDR: + +The system is rigged in favor of HFT firms. Because computers are really good at finding derivatives for cheap to hedge sales for profit, naked short selling is no longer *part* of the system, it **is** the system, short term, over and over and over. What we're seeing might be the product, and possibly the unraveling - of that system. + +Man that was melodramatic. Hey, I wouldn't believe me either, to be fair. I still really don't believe it. + +// + +## Acronym Index and Glossary + +*Because I wish the SEC would include these, for the Fed if nothing else…* + +**ETF** \- [Exchange-Traded-Fund](https://www.investopedia.com/terms/e/etf.asp) \- + +**This is a more detailed explanation than the rest, because ETFs are** ***incredibly*** **important to understand.** + +An *Exchange-Traded-Fund* is a fund who’s portfolio holdings is represented and traded on open exchanges via shares of the fund: ETF shares. Simply put, ETFs are hybrids between funds and stocks. They, like any fund, hold some portfolio of securities. And like any stock, they trade as shares on open exchanges. The fund’s portfolio is typically designed to track some index or sector. Thus, an investor with some opinion about the ETF’s portfolio can trade the ETF shares to eliminate some of the risks involved in trading single equities. + +The *price* of ETF shares is determined at market value, based on their trading in the market - like any equity stock. The *value* of ETF shares is called their NAV, and when NAV differs from price (which is always true in some ETF, somewhere in the world), a profit opportunity exists via arbitrage (see [**Chapter 1 for more**](https://www.reddit.com/r/Superstonk/comments/nplv75/where_are_the_shares_a_beginners_guide_to_hiding/?utm_source=share&utm_medium=ios_app&utm_name=iossmf). + +ETFs also provide a source of dynamic liquidity in the markets. This is because Authorized Participants (APs), acting as ‘referees’, oversee the markets and allocate supply to meet demand. **APs are authorized to** ***create/redeem*** **ETF shares** ***with/for*** **representations of the ETF’s portfolio.** This mechanism is integral to liquidity provision, and helps align ETF share prices with their NAV. + +The “creation/redemption” mechanism mentioned above is the bridge between *ETF shares*, “*liquidity*”, and *particular securities*. For example: + +Say demand increases for security XYZ, thus increasing the trading price of XYZ shares. XYZ’s increased price might mean that NAV > “trading price” for some ETF containing XYZ. APs, who are are responsible for providing supply of XYZ, can then redeem a “basket” of value equal to 50,000 ETF shares in exchange for 50,000 shares representative of the ETF’s portfolio. Only APs are authorized to do this. + +Don’t let the numbers and letters confuse you, it’s simpler than it sounds. For an AP: 50,000 ETF shares = 50,000 individual security shares in *price,* but not in value. When they differ in value, the AP can profit. Of course, the liquidity responsibility ensures that the AP is always buying the cheaper of the two and exchanging for profit. SPY is an ETF with a portfolio designed to mimic the S&P 500 index; XRT is designed to track the retail sector. + +**NAV** \- [Net-Asset-Value](https://www.investopedia.com/terms/n/nav.asp) An ETF’s NAV is the value of the funds assets, minus liabilities. Functionally, for ETFs, the NAV is the value of the fund’s portfolio, and because ETFs are only rebalanced a few times yearly, the *market price* of shares trading on open exchanges often differ from the NAV of those shares. + +**FTD** \- [Failure-to-Deliver](https://www.investopedia.com/terms/f/failuretodeliver.asp) \- after the sale of a security, the seller (believe it or not) has 3 days to deliver the security to the buyer, otherwise the share is deemed failed-to-deliver - a FTD. FTDs should be rare, because they can build up and cause systemic issues, [as Patrick Byrne explains](https://youtu.be/I0WXg5T3cBE). + +**AP** \- [Authorized Participant](https://www.investopedia.com/terms/a/authorizedparticipant.asp) \- “An authorized participant is an organization that has the right to create and redeem shares of an exchange traded fund (ETF)….When there is a shortage of ETF shares in the market, authorized participants can make more. Conversely, authorized participants will reduce ETF shares in circulation when the price of the ETF is lower than the price of the underlying shares. That can be done with the creation and redemption mechanism that keeps the price of an ETF aligned with its underlying net asset value (NAV).” APs include Morgan Stanley, Goldman Sachs, Bank of America, JPMorgan Chase, and Citadel Securities. [BlackRock describes](https://youtu.be/iX7fOx5G40A) APs as referees, monitoring markets to allocate demand to meet supply - resulting in better liquidity and decreased volatility. + +**MM** \- [Market Maker](https://www.investopedia.com/terms/m/marketmaker.asp) \- Market Makers, very generally, oversee markets and quote bid/ask prices to create a spread. They stand ready to buy or sell in their market, and they have algorithms coded to hedge these transactions and profit from arbitrage along the way. The are similar to APs in that they both monitor markets and ensure trades have counter-parties, however, the MM acts as a primary source of the APs information - MMs quote bid/ask spreads, and APs react to these spreads (in real time). This allows the MM to have more direct access to (and influence over) bid/ask quotes in their particular markets, however they rely on the AP to provide market liquidity via ETF creation/redemption. + +**HFT** \- [High-Frequency Trading](https://www.investopedia.com/terms/h/high-frequency-trading.asp) \- “High-frequency trading, also known as HFT, is a method of trading that uses powerful computer programs to transact a large number of orders in fractions of a second. It uses complex algorithms to analyze multiple markets and execute orders based on market conditions. Typically, the traders with the fastest execution speeds are more profitable than traders with slower execution speeds…In addition to the high speed of orders, high-frequency trading is also characterized by high turnover rates and order-to-trade ratios. Some of the best-known high-frequency trading firms include Tower Research, Citadel LLC and Virtu Financial.” This is *how* MMs and APs profit from volume, HFT algorithms scan for arbitrage opportunities. + +**OTM/ITM** \- [Out of the Money / In the Money](https://www.investopedia.com/ask/answers/042715/what-difference-between-money-and-out-money.asp) \- ITM/OTM refers to an option’s strike price in relation to the underlying’s trading price. ITM options hold inherent value (ITM call = strike < trading price; ITM put = strike > trading price). OTM options have no inherent value and expire worthless (OTM call = strike > trading price; OTM put = strike < trading a price). There is also *deep* ITM/OTM. This simply means the option’s strike price is relatively *distant* from the underlying’s trading price. Options with strikes *near* the underlying’s trading price are said to be At-the-Money (ATM). + +// + +## Prior Chapters + +[**CHAPTER 1: ETF ARBITRAGE**](https://www.reddit.com/r/Superstonk/comments/nplv75/where_are_the_shares_a_beginners_guide_to_hiding/?utm_source=share&utm_medium=ios_app&utm_name=iossmf) + +[**CHAPTER 2: OPTIONS AND HEDGES**](https://www.reddit.com/r/Superstonk/comments/nrw9xi/where_are_the_shares_a_beginners_guide_to_hiding/?utm_source=share&utm_medium=ios_app&utm_name=iossmf) + +## Preface + +First of all and for the record, this ape **loves** his country 🇺🇸. I have no doubt that some apes love their’s more, and I’d say that’s awesome. I’d probable even say *c’est bonne* (and be rightfully mocked) + +It’s *because* I love my country, that I am concerned. Deeply. + +And despite the fact that my *entire* understanding of the financial system is merely 6 months old and limited to what I can find online - there are much older, much wiser, and much warier opinions than mine. Tendies or not, I **absolutely do not** wish for disaster or advocate wishing for disaster. + +Secondly, I really don’t advocate for *anything* except using your own brain, shiny or not, to come to your own conclusions. **None of this, including my previous posts/comments, is financial advice or intended to be defamatory in any way.** + +This series is essentially a brain-dump - resulting from my attempts to identify what the hell, *exactly*, has been going since January. + +*Why listen to me?* \- You shouldn’t. Not at face value at least. I have no special insight nor expertise. I like logic and puzzles. That’s all. + +I may have gone wrong here, way way off even - I’m just not exactly sure how. *insert Michael Burry - ‘Big Short’ quote* So if you find holes to punch, *please*, punch away. We’re all learning here. And frankly, in many ways, I’d love to be wrong on this. + +# Chapter 3: The Machine + +## Where we Stand + +[Chapter One](https://www.reddit.com/r/Superstonk/comments/nplv75/where_are_the_shares_a_beginners_guide_to_hiding/?utm_source=share&utm_medium=ios_app&utm_name=iossmf) dove into ETFs, and the ever-growing role they play in market liquidity. In principal, the relationship between ETFs/underlying securities is like a hydraulics system. Securities have some of their supply distributed in various ETFs, and the buying pressures in these different markets are the pistons *squeezing* their respective market’s liquid. As pressure (demand) builds in a given market, APs can dial pressure up in the ETF markets to force liquid wherever it’s needed. *APs can only add pressure.* They cannot reduce buying buying pressure, except indirectly by providing supply. + +This *pressure control* system is vial to keeping markets at bay and keeping ETFs aligned with their NAV. Overall, these are good things. + +Chapter One explained the *mechanism* behind that *pressure control* system, and how APs profit from it through arbitrage: if there are price discrepancies between ETF shares and their underlying, APs are profiting on it. + +[Chapter Two](https://www.reddit.com/r/Superstonk/comments/nrw9xi/where_are_the_shares_a_beginners_guide_to_hiding/?utm_source=share&utm_medium=ios_app&utm_name=iossmf) looked at options trading and its role in hedging. Both equites and options have Market Makers that hedge their sales with options, and I mentioned the fact that options create “synthetic positions” that mimic the returns of some other position. This creates yet another arbitrage opportunity, as price discrepancies in the synthetic positions and their *analogs* can be profitable. + +A few apes mentioned in chapters [One](https://www.reddit.com/r/Superstonk/comments/nplv75/where_are_the_shares_a_beginners_guide_to_hiding/?utm_source=share&utm_medium=ios_app&utm_name=iossmf) and [Two](https://www.reddit.com/r/Superstonk/comments/nrw9xi/where_are_the_shares_a_beginners_guide_to_hiding/?utm_source=share&utm_medium=ios_app&utm_name=iossmf) that a certain… (*don’t say je ne sais qoui, don’t say je ne sais quois*…) 'something' was missing. Like trying beer for the first time and it’s flat. I’m sure others knew what I was hinting at, and I’m sorry if it felt like I was pandering. I’m going for *no ape left behind*, and I think the overall machine is far better understood in light of it’s inner workings. + +## Je Ne Sais Quois + +Okay all five question words let's go - + +*Who?* + +Citadel, *en masse*: an Authorized Participant, Market Maker, Broker Dealer, Hedge Fund, and probably a dozen other things including (probably) the world's largest HFT firm. They account for [**almost 30% of ALL U.S. equities volume and almost half of retail volume**](https://web.archive.org/web/20210428124834/https://www.citadelsecurities.com/products/equities-and-options/). Oh and in 2020 they paid RobinHood (10x more than any other brother) for order flow, buying the rights to clear over 60% of RobinHood's trades. (can't post RH link) + +*What?* + +Wallstreet's God. Naturally, they adopted the triumvirate of Father Fed, the many (some prodigal) Sons, and the Holy Ghost of Liquidity - always there in the background to fill your purchase orders. Yeah, Citadel accounts for close to half of that Liquid Holy Ghost. + +*When?* + +For the last 5 years at least, but particularly in January 2021, and *specifically* on January 27th. Ken stated in the [**Congressional Hearing**](https://youtu.be/lxdp-wU3UZI) that, "on Wednesday, January 27, we executed **7.4 billion shares** for retail investors." + +*Where?* + +Primarily on RobinHood, I'd imagine. At first, at least. Then, a few nanoseconds later, processed through Citadel's network of black boxes to find a better price than you, then sell to you. + +*How?* + +**THIS is why I started with the boring details.** + +I get to skip this part. Arbitrage is how. Via ETF, forced hedging, all those ways we went through + +now for the coolest, most ignored question word + +// + +## Why? + +## ( With a splash of how? ) + +Arbitrage is great, but it has one major problem. It doesn't make very much money, *per trade*. You're only netting small differences, because these arbitrage trades *should* be for equal things. **The only reason arbitrage works is because of inefficiencies in pricing.** This is where arbitrage meets its best friend: High Frequency Trading. + +[**Investopedia**](https://www.investopedia.com/articles/active-trading/092114/strategies-and-secrets-high-frequency-trading-hft-firms.asp) includes four types of arbitrage among the 6 listed money-making strategies, one of which is *volatility* arbitrage. I think Ken said it in the Congressional Hearing, but I'm not sure - + +**HFT firms make SIGNIFICANTLY more money in VOLATILE markets.** + +I mean I can't believe I have to point this out, someone must be saying something, but **this creates a CLEAR CONFLICT OF INTEREST when the HFT firm is an Authorized Participant.** + +*Why?* because, **APs CONTROL THE LIQUIDITY in the ETF market, and, indirectly, the markets of the underlying securities.** + +Maximum volatility = maximum profit per arbitrage trade = *$$$$$$$$* for HFT/AP firms + +It's a simple move and I mean - just pick a couple of GME's ETFs and look at ownership since 2015, I'd guess it's up 500% on average, probably more. Whether this was natural (as underlying price decreased) or intentional, I don't know. *But*, if there happens to be both 1) more volume in the underlying than in the ETF and 2) underlying NAVs consistently dropping lower than ETF price, APs have an opportunity for **massive profit**. + +So to earn that $200m bonus, you look for an ETF with *just* the right blend of wimpy and popular. Then have your trading firm buy ETF all day, or turn the AP's "gobble ETF shares" dial up a few notches, maybe tell your buddies how cool the fund is, anything you can to increase buying in the ETF. AP is *required* to siphon supply from the underlying to meet the ETF demand. + +Easy. Done. + +Over time, your own ETF buying increases the price of your own holdings. And these are *funds*, they're meant to be stable. And many of them are illiquid - so when ETF buyers show up, APs likely *need* to siphon underlying shares. All this *siphoning* makes the underlying more volatile, so when you're responsible for putting the shares back to meet demand, you can take your sweet time and suck as much money as possible from regular investors. Every millisecond counts. + +And as long as you keep buying ETF, or convincing someone to buy ETF, after each ETF rebalancing, the ETF inflation will dictate that ETF > NAV, *forcing* you, as an AP, to buy underlying until they equate (then maybe you buy again). I think you can see how this quickly becomes a vicious cycle. + +Do I sound crazy yet? Oh, *long time ago?* I know, I've felt crazy for weeks. I cannot prove that this happens, I can only say that the system exists such that it is possible, and very profitable. And frankly it's very likely that the cycle is a natural byproduct of increasing interest in ETFs. Whether or not it's intentional: + +"ETFs have grown to $131.2 billion in assets under management by 2016, up from only $3.9 billion in 2007 representing a growth rate of 3300% over ten years." + +That information is remarkably hard to find, but [**this Harvard paper**](https://scholar.harvard.edu/files/kevin_pan/files/etfarbunderliqmismatch.pdf) mentioned it. + +Oh wait, lol no it's not hard to find - **Statista (not sure if reliable but looks legit)** reported - + +"he assets under management (AUM) of global ETFs increased from 417 billion U.S. dollars in 2005 to over **7.7 trillion U.S. dollars** in 2020. The regional distribution of the AUM of ETFs was heavily **skewed towards North America, which accounted for around 5.6 trillion U.S. dollars** of the global total." + +Holy Liquidity Mother of Fed, that is a f*cking ton money. 5.6 TRILLION DOLLARS worth of North American stocks trading instead in ETFs. All that illiquidity, all that volatility...* see what I mean? + +// + +## GameStop, The Machine, and The House of Cards + +I took some Philosophy in college. Non-metaphorically, even. And if you’ve ever taken a Philosophy class, you’ve likely asked yourself why everyone in it thinks everything has to be an argument all the time. + +Well, as I would for my apes, I’ll stand up for my fellow philosophers by saying that sometimes - and *particularly* when you don’t know what the hell you’re talking about - the safest way to move forward is to: + +First, break things down into **facts**, or get as close as possible. + +(Descartes currently holds the record at one… though, naturally, it’s disputed. Getting all the way to 0 earns you a clinical diagnosis, and trying to prove it earns you *at least* one more, and possibly a PhD) + +Then, use **logic**, as best as you can, to propose *new facts* based on the old facts. They call these new facts 'conclusions', I think. Or 'heresy', maybe, depending. + +The *goal* of an argument, formally, is to reach a valid conclusion. The *utility* of these conclusions is... something non-philosophers bother with. + +Valid conclusions are reached by using facts and logic mathematically. If the facts are verifiable and the logic is sound, the conclusion is valid. + +So why is everyone always arguing? Philosophers, a significant portion of college kids, and, ironically, HFT algorithms, *think* in the structure of argument. + +Alright lets try one - + +// + +## Facts + +Quotes [directly from the SEC](https://www.sec.gov/investor/pubs/regsho.htm) : + +"Short selling is used for many purposes, including to profit from an expected downward price movement, **to provide liquidity in response to unanticipated buyer demand** or to hedge the risk of a long position in the same security or a related security." + +and how *should* this done? + +"Typically, when you sell short, your **brokerage firm loans** you the stock. The stock you borrow comes from either the firm’s own inventory, the margin account of other brokerage firm clients, or another lender." + +and if, say, there are no shares to borrow anymore, where else can shares be found? + +"In a “naked” short sale, the seller **does not borrow or arrange to borrow** the securities in time to make delivery to the buyer within the standard three-day settlement period. **As a result, the seller fails to deliver** securities to the buyer when delivery is due (known as a “failure to deliver” or “fail”)." + +and, um, *why* is that legal? + +*(try not to read this in Ken G's voice from the first congressional GameStop hearing btw... If you don't remember how it sounded, its eerily similar to Michael Scott - but really nasal like Steve has a terrible cold, and choppy like he's short circuiting from the cognitive dissonance.)* + +"There may be legitimate reasons for a failure to deliver. For example...delays can result from transferring securities in physical certificate^(obsolete) ... A fail may also result from “naked” short selling. For example, **market makers who sell short thinly traded, illiquid stock in response to customer demand may encounter difficulty in obtaining securities when the time for delivery arrives.**" + +“"Naked” short selling is **not necessarily a violation of the federal securities laws** or the Commission’s rules. Indeed, in certain circumstances, “naked” short selling contributes to market liquidity. For example, **broker-dealers that make a market in a security generally stand ready to buy and sell the security on a regular and continuous basis at a publicly quoted price, even when there are no other buyers or sellers.** Thus, market makers must sell a security to a buyer even when there are temporary shortages of that security available in the market. **This may occur, for example, if there is a sudden surge in buying interest in that security, or if few investors are selling the security at that time. Because it may take a market maker considerable time to purchase or arrange to borrow the security, a market maker engaged in bona fide market making, particularly in a fast-moving market, may need to sell the security short without having arranged to borrow shares. This is especially true for market makers in thinly traded, illiquid stocks as there may be few shares available to purchase or borrow at a given time.** " + +Speaking of the hearing, here's another fact: Ken stated in the Congressional Hearing that, "on Wednesday, January 27, we (Citadel) executed 7.4 **billion** shares on behalf of retail investors. To put this into perspective, on that day, Citadel Securities cleared more trades for retail investors than the entire average daily volume of the entire US equities market in 2019." + +I shit you not, [at 24:35](https://youtu.be/lxdp-wU3UZI). + +He also said, "During the frenzied period of retail trading, Citadel Securities was able to provide continuous **liquidity** every minute of every trading day. When others were unable... or willing to **meet the demand**, Citadel Securities was there. I could not be more proud of our team." + +// + +## Logic + +If demand for a particular security *rapidly* increases, the AP, or some AP, must provide (as I've quoted a few times now) **liquidity** to meet that demand, even though the demand was for a *particular security*. + +If supply is lacking in a *particular security*, APs have a responsibility to provide it. Throughout January 2021 and *particularly* on the 27th, there was **unprecedented volume** \- + +whether this was shorts covering, regular retail trading, apes gobbling GME pacman style, some of which are among the thousands of high schoolers with pandemic stimulus money and almost nothing to spend it on except a free iPhone app that lets them buy cool stocks they saw online like a video game at zero commission - + +all of that buying pressure - much of which was **heavily** skewed toward a few dozen securities, likely required **unprecedented liquidity** in those *particular securities.* + +As beaten to death at this point, **ETF redemption** and **hedging** are ways of turning "liquidity" into *particular securities*. + +To take full advantage of *both* of those, it helps to be an Authorized Participant *and* a Market Maker in the markets in question. + +// + +## Facts, again, but with some logic too + +Directly from [**Citadel's Website**](https://web.archive.org/web/20210428124834/https://www.citadelsecurities.com/products/equities-and-options/) \- + +"Citadel Securities is a leading market maker to the world’s institutions and broker-dealer firms. Our automated equities platform trades approximately **26% of U.S. equities volume**....We execute approximately **47% of all U.S.-listed retail volume**, making us the industry’s **top wholesale market maker**. Citadel Securities acts as a specialist or market maker in more than 3,000 U.S. listed-options names, **representing 99% of traded volume**, and ranks as a **top liquidity provider on the major U.S. options exchanges**." + +Citadel is a Market Maker *and* an Authorized Participant - capable of capitalizing on liquidity provision *and* hedging responsibilities. + +but.. how again, exactly? Like, cash to GME, what's in the middle? + +Hedging is the easy part. Well easier to explain at least. 2 options:^(punintended) 1) directly sell short and hedge with some long options position. 2) sell calls / buy puts (as MMs, they can influence these prices and choose which trades to take), and then sell the shares you were forced to hedge with + +I'm not *entirely* sure #2 is legal but #1 most definitely is. + +Directly selling short is the way to go, though, because you don't increase the buy pressure, whereas hedging would force you to buy then resell. + +I really should say: "Directly selling short is the way to go because you get to force the price down, whereas hedging would allow the movement to remain natural." + +I've been reading too much of this shit... + +Anyway, there's another way to sell without buying, directly forcing the price down: Get the shares from an ETF: + +From [**BlackRock's iShares IWM prospectus**](https://www.ishares.com/us/literature/prospectus/p-ishares-russell-2000-etf-3-31.pdf?stream=reg&product=I-R2000&shareClass=US+Class&documentId=925868%7E926239%7E926348%7E925613%7E925577&iframeUrlOverride=%2Fus%2Fliterature%2Fprospectus%2Fp-ishares-russell-2000-etf-3-31.pdf) \- + +"...the Fund sells and redeems its shares directly through transactions that are **in-kind and/or for cash**, subject to the conditions described below under Creations and Redemptions." + +*to the fine print we go* + +"A creation transaction, which is subject to acceptance by the Distributor of the Fund, generally takes place when an Authorized Participant deposits into the Fund **a designated portfolio of securities, assets or other positions** (a “creation basket”), **and an amount of cash** (including any cash representing the value of substituted securities, assets or other positions), if any, **which together approximate the holdings of the Fund** in exchange for a specified number of Creation Units." + +So if I'm reading that right, \[any pile of securities, short sales, derivates, or cash\] = \[ETF shares\]... + +And, of course, it works backward as well: + +"Similarly, shares can be redeemed only in Creation Units, generally for a designated portfolio of securities, assets or other positions (a “redemption basket”) held by the Fund and an amount of cash (including any portion of such securities for which cash may be substituted)." + +So *actually* \- + +**\[any pile of securities, short sales, derivates, or cash\] = \[ETF shares\] = \[Underlying Shares\]** + +Oh, and to reiterate from the first post: + +"To the extent the Fund engages in in-kind transactions, the Fund intends to **comply with the U.S. federal securities laws** in accepting securities for deposit and satisfying redemptions with redemption securities by, among other means, **assuring that any securities accepted for deposit and any securities used to satisfy redemption requests will be sold in transactions that would be exempt from registration under the Securities Act of 1933**, as amended (the “1933 Act”). Further, an Authorized Participant that is not a “qualified institutional buyer,” as such term is defined in Rule 144A under the 1933 Act, will not be able to receive restricted securities eligible for resale under Rule 144A." + +So they don't have to report these shares - that's bad enough. But what's that part at the end? Does that imply the AP's who *are* institutional buyers *can* receive "restricted securities eligible for resale"? How much borrowing do they have to account for *in the prospectus?* + +(( The very *existence* of this mechanism depicts the chasm between Wall Street and the public. They would say it improves liquidity and decreases volatility. I would say it's potentially manipulative, potentially *deflationary* to underlying securities, and I'd argue that [**it's actually major culprit in liquidity issues**](https://scholar.harvard.edu/files/kevin_pan/files/etfarbunderliqmismatch.pdf). Which isn't so surprising since it's the very mechanism siphoning liquidity away in the first place. )) + +// + +## GameStop, for real this time + +So after *all that* \- this next part, uh... this might be a little awkward, but.. back to those **7.4 billion shares** Citadel executed for *retail investors alone* on **a single freaking day.** Do you remember the prices increases of some *particular securities* that were sold?? Can you **imagine** filling all of those buy orders? + +Probably not, and I don't know if Ken did, either. Remember, this **is** the system, or roughly half of it. This is where your trades go, and how the system is *designed* to react. + +The *other* half would be the other APs. JP, GS, you know the crew. The ones that all **reported ownership of GME's ETFs in the last few months**. + +Why is that relevant? Well, as GME buying pressure goes up, APs need ETF to redeem. So the buying pressure in ETFs goes up but *uh oh* \- who's selling the ETF? Some of them are pretty illiquid to begin with, **so which AP bites the bullet, and shorts the ETF?** + +That'd be the one that didn't report buying them. Because they can't. Citadel Securities LLC. + +I'm probably just seeing things, but those 13F filings, to me, say *Wasn't me!* To me, they may as well be fingers pointing at Ken. + +Now, I have absolutely no idea *why* Ken bit the bullet in January. It could be that the technology netting him half of retail's trades, possibly their risk profiles, and the capability of that technology to generate the liquidity provided to *literally* keep the system from collapsing - it is possible that their technology may have been uniquely capable of handling the demand. + +It is also possible that all of the APs and Market Makers share pieces of the GME debt-*gâteau*. + +I **believe** based on, well, the above and the work of u/atobitt, Wes Christian and the like, that the true answer is some combination of those two and the following - + +// + +## Guesses, as educated as I can make them + +It is likely that GameStop has been aggressively sold short for many years - particularly since 2014. And as the ETF market grew from $100 billion to $5.6 **T**rillion in assets, I'd argue that ETF creation/redemption, intentionally or not, facilitated this process. + +Remember the ETF gobble/profit cycle I mentioned earlier? Maybe, and this is just a guess, this is some part of the "distribution" BlackRock is referring to in IWM's prospectus - + +"Because new shares may be created and issued on an ongoing basis, at any point during the life of the Fund a “distribution,” as such term is used in the 1933 Act, may be occurring." + +Well, that gobble/profit cycle would *love* for Hedge Funds and other firms to short sell GME, right? Price goes down, you get to make more ETF. It feeds directly into the cycle. + +So, in my worthless opinion, I think there's a significant possibility that many firms were short GME for many years, then ETFs came along, allowing APs to get in on the action, then HFT came along and combined a targeted short attack with a arguably dodgy, yet profitable trading tool and "accidentally" created a **massive ocean of rolling FTDs**, ... + +Yes that sounds crazy. But I'm not pulling that out of thin air. I remember even MarketWatch said GME had over 60 million shares short on January 15, and I went through like 10 ways to skirt reporting. Look at the ETF growth: $4 billion in 2007 to $7.7 trillion last year. That's over 192,000%. + +Honestly, and I mean this *can't* be right... but from everything I read, naked short selling is the clear, primary route of instant liquidity. That's terrifying because these are just computers programmed within certain parameters, but I think that's *why* naked short selling is the go-to: these things don't locate, it's far simpler and far faster to just sell now and use the three day (or 6 day, or 35 day, or *perpetual*) settlement cycle to look for a cheaper long synthetic position to hedge with. + +And when the delivery day comes, they do it again, and again, and again, because their coded to look for profits, to *make money*, and I don't know if there's a parameter than accounts for **all the shares sold, trading, and collateralized on the books with derivatives** that build up over time as excess supply. + +I could go on and on.. how spikes in GME FTD volume are perfectly in between those of its ETFs. How the spikes in options OI also line up perfectly. Or how creation baskets can even be "custom" and just theoretically be 50,000 GME's. It doesn't matter, the bottom line is - + +actually, I'll let BlackRock tell you, + +"Broker-dealers and other persons are cautioned that some activities on their part may, depending on the circumstances, result in their being deemed participants in a distribution in a manner that could render them statutory **underwriters** subject to the prospectus delivery and liability provisions of the 1933 Act." + +luv u Ryan ❤️ + +// + +If you're learning all of this for the first time, *shit*, honestly I can't imagine it. Like I said in the first post, it's taken me months to put all of this together - and I've felt crazier by the week. Maybe I'm missing something huge here, but 5.6 **T**rillion dollars is a lot of dollars, so this ETF thing seems kind of important. And really, I think I just needed to get it out of my brain and into words. + +and make no mistake, there were **1 billion GME shares** traded in the January run up. Idk if the original shorts were able to actually cover *anything*, but even if they *did* \- those buy orders were filled with short sales all the way up, just like the system was coded to do. + +Almost $500 billion in GME was sold in January. Of all the *concentrated*,*particular stocks* in January's madness - GME sold the highest dollar amount by $496 billion. Second was AMC, at $4b. AMC has since surpassed its January peak by over 350%. Just saying. + +// + +## 3 little things before I go... + +First, this overall explanation of the market does a great job of explaining similar price movements we see in multiple stocks. In the face of HFT algos naked short selling possibly *billions* of shares in a single day, we see multiple prices move along the FTD cycles. + +Second, it also connects the treasury markets - because as u/atobitt explained, the 10-20 year treasury bonds are the preferred collateral of the Repo Market, the largest and most liquid market on the planet (I think). One could buy (or otherwise obtain) treasury ETF shares, redeem them for bonds, and go to the Repo Market. *voila* cash to do everything I just described. + +Oh and, second-and-a-half, Michael Burry shorted a 20 year treasury ETF for like 500mil I think. TTT. You should check it out. + +Last thing - Idk if this is common across ETFs, but IWM rebalances ever February, May, August, and November. If you look at GME toward the ends of months, price and volume tend to increase. Which is weird, since GME has been in increasing in price since last November. + +While increasing, you'd expect the ETF to be redeemed for shares (ownership decreases), and if the price in February greater than in November, (it was, and this may have been what they were shooting for.. *sooo close*, kinda, not really), then the ETF should have to **sell** GME shares to maintain its proportions. + +**So why is GME's price going up while its ETFs are selling shares?** + +Dr. Burry, again, comes to mind. Remember when he sold in October, and it took his brokers weeks to find his shares? If an ETF needs to sell shares to maintain its portfolio, but it's lent all its shares, it needs to recall enough shares to meet the sale, and every borrow and re-borrow and re-borrow needs bought and rebought and rebought. + +That both explains the run-ups and confirms the shit outta my bias. And don't forget that ETF ownership *increased* since November, so any ETF un-siphoned to meet demand in January and re-siphoned by February. And then some. + +So, all put together, it almost looks like the shorts tried to cover, failed, almost broke the system by doing it at the same time as everybody else, and now the system that was coded to prevent the MOASS, and was successful, is trying to release all that pressure at factions of the volume that created it. + +*There the shares.* + +Naked shorts and derivative collateral and cash covered ETF swaps, maybe married puts too and when it comes time to cover, do it again, because it's cheaper that way. + +And if you need cash to do all of this 10 times over to prevent a system collapse, formally known around here as the MOASS, you derive collateral for the treasury ETFs too and make the whole problem worse when now that the sell pressure is gone. + +*That, maybe, is the House of Cards.* + +// + +If you heard me out and still think it's too crazy, I don't blame you. Thank you for humoring my brain dump. And I hope I didn't offend my French apes, really Idk why I ran with that theme. + +HODL 🚀🚀 +**IF YOU READ THIS AND KNOW WHAT IM TALKING ABOUT, DONT JUST SIT BACK AND DO NOTHING. + +Join Me On My Quest To Expose These Criminals. Ill Stop Only When Im Dead. This Company Is Giving Crypto A +Bad Name. We All Need To Work Together to Warn Somebody. Take 5 Min Every Day To Think Of A New Place To Expose Them. If You Have To, Copy Paste My Post Below. Thank You For Your Help! + +They are openly robbing 100's of us, and possibly preparing to exit the crypto world with our funds + +They have stolen over $2500 from me. But some other people have been ripped off Hundreds of Thousands of dollars. + +There are endless accusations against them them. +We are attempting to launch Class action. They have locked 100's of people out of their accounts, and are keeping the funds. +HitBTC also monitor Reddit, and always reply on reddit to make the public think they are trying to help. +They have trolls working around the clock. But when you try to email them +to get your funds back, there is just silence. Nothing. + +They even seem to go as far as having trolls post a complaint on Reddit - then Hitbtc come to the rescue. + +But in actual fact, they ban people on their Reddit and Twitter who speak the truth. I was banned for trying to get my $2000 back. + +And privately, they are nasty and gloat at the fact that I "Wont even be able to find them" to take legal action. + + +You can google 1000's of other people like myself that have been scammed. +Here are 3 places to start; + + +https://bitcointalk.org/index.php?topic=2556342.0 + +https://www.youtube.com/results?search_query=+hitbtc+scam + +https://www.reddit.com/r/BitcoinMarkets/comments/76mgou/hitbtc_a_warning/ + +There are Many, Many many more.....dont take my word for it - Look them up + +TAKE YOUR FUNDS OFF THIS EXCHANGE ASAP. They're probably going to be gone soon. +.Please help expose HitBTC, they're scammers. If you're a Lawyer, please contact me regarding a CLASS ACTION against this company. +A relative died and left me boxes and boxes of US mint silver coins and some gold coins ranging from the 1960s->2000s. All of them unopened and in original packaging/storage. + +I have no idea what to do with them or if they’re even worth anything. I’m not sure where to take them to even be appraised. Advice? +Ladies and gentlemen, +i have been tracking volume for the last months. Never in 2021 has it taken more than one hour to reach the first 1m traded GME, in fact slowest time ive seen so far is like 51 minutes. It's now one hour, and we still have 100k volume to go. Amazing, this has NEVER been seen for all these months! + + +Why is this bullish? Glad you asked! Get a load of this: the $480 peak of Jan 27th was the day after the hitherto slowest volume day of the year. The slowest day was a tuesday, and the peak a wednesday. So, were now on a tuesday with the lowest volume so far since Oct 2020 or so. And tomorrow is... Wednesday. + + +Im not saying get your tits jacked, but, get your tits jacked! +https://www.cnn.com/2021/10/25/business/extreme-couponer-sentencing/index.html + +What these two did was wrong, they hurt businesses so they deserve punishments. But goddammit, Ken Griffin and his buddies bankrupt numerous companies, make $billions, pay no tax, don't even need to admit wrongdoing, WTF! We need to take these fuckers down. The justice system is different for the ultra wealthy. +https://www.cnbc.com/2019/11/01/jeff-bezos-would-pay-over-6-billion-a-year-in-taxes-under-warren-plan.html + +To pay for Medicare for All, presidential candidate Sen. Elizabeth Warren would double the top rate of her wealth tax to 6% from 3%. + +This would be in addition to other taxes wealthy people already pay. + +If this proposal were adopted, Jeff Bezos would pay more than $6.5 billion in wealth taxes this year alone. +That’s more than wiped out my last pay rise. Super. Hey at least everything else is getting cheaper though, right? Right?? Oh. + +Update - actually both income tax and NI, having checked payslips +Let me start by saying that I am not trying to spread FUD by shitting on positive news, but we really need to have a discussion about the sharing of tweets from two very controversial accounts, ZeroHedge and FXHedge. + +I know a lot of people here like to share tweets from both ZeroHedge and FXHedge because they tweet things that we all hope are true, but being pragmatic is much more important than being obliviously optimistic. My hope here is that people understand that disinformation doesn't just come in the form of negative rumors, it also comes in the form of reinforcing preconceived opinions. Below I have outlined my reasons why we should ban any posts that consist of tweets from these two shit-weasel accounts. I know this topic will be very controversial, and I have made a concerted effort to remain non-political, but I know some will not see it that way. I apologize in advance to the mods that have to deal with the potential shitstorm coming. + +*(Note to readers: All sources are hyperlinked in the text, however some of them may be soft paywalled... you know what to do in that case.)* + +# The problem with ZeroHedge... + +ZeroHedge was founded and operated by a, I shit you not, [Bulgarian-born and U.S.-educated, former hedge-fund trader named Daniel Ivandjiiski. Ivandjiiski was also permanently barred from the securities trading industry by FINRA for insider trading in 2008.](https://newrepublic.com/article/156788/zero-hedge-russian-trojan-horse) His "partners", i.e. accomplices, are [Tim Backshall, a credit derivative swap shit-weasel](https://www.bloomberg.com/news/articles/2016-04-29/unmasking-the-men-behind-zero-hedge-wall-street-s-renegade-blog), and [Colin Lokey, a former Seeking Alpha content director](https://finance.yahoo.com/news/zero-hedge-unmasked-theres-more-142730165.html). + +[Lokey had a falling out with Ivandjiiski and Backshall in 2016 and no longer works with them.](https://newrepublic.com/article/156788/zero-hedge-russian-trojan-horse) + +[In recent years, ZeroHedge has also been promoting a conspiracy theory that is currently destroying families across the world. I can't say what conspiracy due to the fact that my post will be removed, but I'll give you three guesses as to which one that is... or just read the article linked here.](https://www.institutionalinvestor.com/article/b1nl1220xpsxpv/Why-Did-Financial-Flamethrower-Zero-Hedge-Go-All-in-on-Conspiracy-Theories) + +Ivandjiiski is the Bulgarian born son of Krassimir Ivandjiiski. [Krassimir Ivandjiiski is a former Soviet-era Bulgarian Ministry of Foreign Trade official who, since 1994, has been the publisher and editor-in-chief of the far-right Bulgarian political news website, Strogo Sekretno.](https://strogosekretno.com/index.php?p=aboutus) + +[Daniel Ivandjiiski is also a former employee at a hedge fund run by former Goldman-Sachs traders. Ivandjiiski was charged by FINRA of gaining US$780 from an insider trade on 14–15 March 2006. On 3 September 2008, FINRA reached their decision, published on 11 September 2008, that Daniel K. Ivandjiiski was to be barred from acting as a broker or otherwise associating with a broker-dealer firm, and from being a FINRA member. Ivandjiiski had not turned 30 at that time, and did not appeal the FINRA decision. In September 2007, before the FINRA ruling, Ivandjiiski moved to the Connecticut-based hedge fund Wexford Capital LLC, run by former Goldman Sachs traders.](https://en.wikipedia.org/wiki/Daniel_Ivandjiiski#Career) + +People also need to be aware that **ZeroHedge is literally a Russian disinformation network.** + +The following is an excerpt from a paper written by the well known and respected public policy think tank Rand... + +>[These entities include news aggregators, extreme political sites, blogs, and users drawn in by clickbait headlines that reinforce their previously held beliefs, in addition to media outlets that frequently echo the Kremlin line but are not obviously affiliated with Russia, such as ZeroHedge...](https://www.rand.org/content/dam/rand/pubs/research_reports/RR2200/RR2237/RAND_RR2237.pdf) + +That's a pretty bold claim, but if you take the time to read the report, it's a very well researched paper as you would expect from Rand. I thought one of the more interesting figures from the report was a map of Zerohedge's Referrer Network. Those referrer sites look... uhhh... well, take a look for yourself below. + +[ZeroHedges Refferer Network from the Rand research report, page 31 of the PDF.](https://preview.redd.it/9etpvclv2ah81.png?width=1192&format=png&auto=webp&s=0495bc1fa8567e72b36b2a1fc0a3b95650dc9c8c) + +I will stop here on the topic of ZeroHedge. I have given you the information and you can decide from there. + +# Now let's talk about FXHedge... + +Now FXHedge is much more difficult to find information on than ZeroHedge, as this is clearly by design, so I can only use Twitter analytics and common sense, as outlined below, to label them as completely untrustworthy. + +For those of you unfamiliar with FXHedge, all they do is tweet completely unverifiable information that draws in people with clickbait headlines that reinforce their previously held beliefs, like pending margin calls, some crypto scam baits, and curiously, a lot of bullshit about Russia and Ukraine. + +They do this all from an unverified account, because they don't want you to know who's running it. Even if you wanted to call them out on Twitter, you can't do it on their tweets because they only allow accounts that FXHedge follows, or they have mentioned, to reply. + +Some people have said that FXHedge is a bot, but I don't believe that at all. Bots tweet at all times of the day, but the Twitter account analysis suggests there is a live human being curating the account as a full time job. [It's clear that whomever is tweeting from the account is on a work-like schedule, which correlates with the tweets originating from within the continental US based on UTC world time.](https://foller.me/fxhedgers) + +[Does not appear to be a bot, nor a banana, nor cat.](https://preview.redd.it/5akypkv13ah81.png?width=913&format=png&auto=webp&s=a8f42bfc894f5b3a7853faa235fb9f1de750e7f2) + +My absolute favorite thing from the analytics though was the word/topic heatmap. The top 10 used topics/words used by FXHedge were... + +1. *says* +2. *ukraine* +3. *russian* +4. *military* +5. *fed* +6. *white* +7. *russia* +8. *warns* +9. *high stock* +10. *house* + +[This is cancer.](https://preview.redd.it/t5d21gdx2ah81.png?width=872&format=png&auto=webp&s=b6184435938a2d22116700520bb60bccf0073a50) + +This would be more hilarious if it wasn't so horrifying. Remember that scene from *Captain America: Civil War* where they've got Bucky is strapped down and that dude reads the code words in Russian to activate Winter Soldier? It's a lot like that. + +This account shows EVERY single sign of being a sock puppet account to push disinformation and to psychologically manipulate their ***262K*** followers. I guaran-fucking-tee that FXHedge is run by hedge funds, or most likely some state actor looking to wreak havoc on Western financial markets. They have gone to great lengths to make who is behind the account unverifiable as well. This looks to be straight from the Russian Internet Research Agency's playbook developed in the early 2010s. Either it's that agency itself, someone directly or indirectly working for them that's based in the US, or a hedge fund who's adopted their tactics because they saw how well it has worked before. + +That's about all I can dig up on FXHedge currently, so I again leave you with the information to make an informed opinion about them. I'd love to hear if anyone has any more information about who is behind that account. + +# In conclusion... + +These accounts are professional liars. Do not trust them. Do not share them. Do not believe them. Ignore them entirely and block them where you can. Some of what they say may be true, but that's how they get you. It'd be easy to ignore an account that is incorrect 100% of the time, but sprinkle in the occasional truth and that's how they have the power to suck people in. + +**The only account we should 100% trust is Ryan Cohen.** + +Thanks for coming to my TED Talk. + +&#x200B; + +**Edit:** + +*Credit to* u/royal_dump *for sharing an older post that I haven’t seen before.* + +[*This post more or less expands upon why I’m trying to convey here.*](https://www.reddit.com/r/Superstonk/comments/spsa4v/a_warning_about_twitter/hwi5z2p/?utm_source=share&utm_medium=ios_app&utm_name=iossmf&context=3) + +*On another topic, to the ones saying that we shouldn’t ban them and let people decide for themselves…* + +*I don’t understand this line of thinking. If you think boiling it down to something this simple works, then why is the advertising industry worth nearly a TRILLION FUCKING DOLLARS annually? You know why it’s worth that much?* ***Because it fucking works.*** *Whether you admit it or not, this shit works on all of us to varying degrees.* + +*We aren’t allowed to post porn, self promotion, and personal information, but for some reason suggesting banning some obvious shill accounts is somehow worse than those things? This sub isn’t run by the government, so the First Amendment doesn’t apply here. It’s well within the right of this sub to choose what is best for this sub.* + +*Also, I really don’t care if you guys think I have an agenda to push here. As has been suggested by others, I should have included additional accounts here, but I didn’t. You know why? Because I didn’t do any digging on them. I researched these two and presented the information here for people to verify and make a decision for themselves.* + +*I don’t really give a shit if some think I can’t be trusted. My goal wasn’t to get everyone to trust me, my goal was to get everyone to not trust these accounts.* + +&#x200B; + +**Edit 2:** + +*I was trying my best to reply to counter arguments here, but I’m just gonna take a step back from this post. I’m sorry if I can’t get to all the valid counter arguments here, but this post blew up way more than I thought it would and I just can’t keep up with it anymore.* + +&#x200B; + +**Edit 3:** + +*Cleaned up the formatting a bit so the figures don't show up as links.* + +***Also I'd like to request a favor... although appreciated, please stop with the awards***. *It's getting ridiculous. I don't want to be responsible to giving Reddit money. It's also not really helping with credibility of the post since it makes it look as if I have called upon my army of bots to artificially push this post to the top. I want visibility, not clout.* + +*Lastly, I hate that this post has put a picture of Fight Club as the thumbnail preview because that was the picture on the first link I have in the post. It’s dumb and I hate it. I hate it so much.* + +&#x200B; + +**Edit 4:** + +*Shout out to* u/deebrown68 *for making a bunch of shitty comments directed towards me that accuse me of being a shill, then reporting this post as disinformation, and then immediately blocking me after reporting me to the Reddit crisis bot. You seem very mentally stable.* + +&#x200B; + +**Edit 5:** + +*Thanks to* u/Whotopia *for sharing a* [God-level Due Diligence post from last year](https://www.reddit.com/r/Superstonk/comments/pilw2e/the_names_and_faces_behind_superstonks_for_profit/)*. It's not directly related to the accounts mentioned in my post here, but it gives you an idea of how some of these shill accounts operate. It was pretty highly upvoted, but after reading it, it still seems incredibly overlooked.* +So I’m very new to the whole investing scene. I finally grew the courage, opened up a FreeTrade account and began investing. + +I’m only 18 years old and don’t want to jump into this too quickly with large investments. I initially deposited £500 into my account last week to sort of play about ( with some research included) and get a feel what the stock markets are like. + +It’s now been 1 week since I began investing with my £500 deposit. I’ve grown my account to £529.66 with a 6% increase since beginning. +[Portfolio After 1 week](https://imgur.com/gallery/XroDcSg) + +[Stocks Ive Invested In](https://imgur.com/gallery/c7bdBgX) + +Personally, I’m extremely happy with the outcome considering it’s only been a week. I believe some off it may be luck but I also feel I’ve done my research and chosen wisely with slightly balanced portfolio. + +I’m only 18 years old and very new to the scene so I feel it’s best to wait another few weeks just to get used to the app then I’m thinking depositing another £1-2k in the account. + +what’s your best tips or advice for someone like myself who’s new but very keen to the Stocks Investing scene. +1. TAKE CARE OF YOUR DAMN MARGIN- when hedgies started collapsing the price, a lot of y’all had your positions closed right out from under you due to sudden margin calls that gave little time to react. Make sure your positions have not been bought with with borrowed money. Deposit whatever you need NOW. + +2. REMOVE STOP LOSSES- this does not need any more explanation after last January. + +3. GET THE HELL OUT OF ROBINHOOD- this does not need explanation after last January. Everybody saw what they did. + +4. IF BROKERS KILL THE BUY BUTTON AGAIN, DO NOT SELL. - Lot of people who fomo’ed during the run up probably had no idea about the plans RC had for GameStop or who RC even was, and simply thought this was just a huge pump and dump. They just saw CNBC saying one day GameStop was skyrocketing and jumped on, then shit their pants when the price fell. Well, we’ve had a whole year to research and analyze all about GameStop’s turnaround. GameStop’s market cap should be WAY higher than what it is right now, based on current sales. This is NOT a pump and dump. This is NOT a meme stock. This is an opportunity to get in early on the next company giant. The company will be worth a lot more in the coming years. + +5. DRS- hedgies can’t mess with your position if it’s locked up where they can’t touch it. + +That’s pretty much it. It will be interesting to see how it will go down if another run up happens, considering what we learned from last January. Lot of folks left robinhood and drs’ed and steeled their nerves and diamonded their hands for up and down movement. Hedgies pulled every dirty trick in the book last January to save themselves, and they will do it again. It won’t work this time though. We already know what they’ll do, so HODL. This stock is, at worst, a long term hold. At best, an opportunity to make millions. It’s a win-win as long as you don’t sell. Do not let them close your position or scare you into selling like last time. +I am pretty new to real estate. How do you know that it is a good or bad time to invest in real estate and in what area is the best, is there a website or some sort of chart? Thank you. +Welcome to the Daily General Discussion thread of /r/EthTrader. + +Find the latest Daily Altcoin Discussion thread by selecting the top result on this [search page](https://www.reddit.com/r/ethtrader/search?q=Daily+Altcoin+Discussion&include_over_18=on&restrict_sr=on&t=all&sort=new). + +*** + +The thread guidelines are as follows: + +- Please refrain from discussing non-Ethereum related tokens here. You are welcome to discuss altcoins in the Daily Altcoin Discussion thread. +- All sub rules apply here so please review our **[rules page](https://www.reddit.com/r/ethtrader/about/rules/)** to become familiar with them. The rules page is also linked in the announcement bar above. +- If the top page becomes overloaded with memes, all but the top two voted may be removed. If we need to remove a bunch of memes from the top page, post memes in this thread first and upvote the best so the mods know which ones to keep + +*** + + Resources and other information: + +* Newcomers who have basic questions about Ethereum can find answers by visiting /r/EthereumNoobies or our Ethereum Education wiki page, [see here](https://www.reddit.com/r/ethtrader/wiki/education). + +* To view live streaming comments for this thread, [click here](https://reddit-stream.com/comments/auto). Account permissions are required to post comments through Reddit-Stream.com. + +*** + +Enjoy! + +Hello Everyone, + +I'm 32 years old, work in Tech and got married a couple of years ago. My wife is 28 years old and works in HR. My take home is about 1.9 L/mo. post tax where as my wife brings in about 50 K/mo. post tax. I also get a yearly bonus 1.5 times my monthly post tax take home. + +My mom owns an apartment (valued at around 25 lakhs) in my hometown which I'll inherit sometime in the future. She'll be working for a few more years before she retires. + +We live in Bangalore and rent an apartment. Our apartment rent is probably the biggest expense at around 32 K followed by groceries, ordering food, going out, gifts, clothes and donations, if any. Our monthly expenses fall in the range of 50k - 70k/mo. Average expenses since the beginning of lock down are 60k and that includes a holiday in Goa, couple of hometown trips, 2 laptops (one for me and my mom), setting up home office etc. + +We live close to my office , so before the pandemic I'd either walk or take a Yulu. My wife's workplace is about 6 Km from our apartment so would either share a ride using Quickride or get a Uber auto. Now that we're working from home we're able to get rid of these costs.We don't own any vehicle and have no plans to buy one at the moment though we briefly considered getting a car before the pandemic. + +Over the years, I've spent a lot of money traveling domestically and internationally till the pandemic paused it. I've also spent lavishly (per middle class bachelor standards!) during my late 20s, only putting money into occasional FD/RD and ELSS. No regrets whatsoever but in hindsight I can see that cutting down on some of my expenses and investing them in equity would have made me wealthier. + +Since the beginning of lock down, my savings rate has gone up by 30% and I've seen very good returns. + +My current savings/investments are around \~45 lakhs and my wife's savings are around a couple of lakhs. + +About 45% (\~21 lakhs) of my savings are in equity - mostly mutual funds and etfs but a stock here and there - and the rest are in bank deposits. I also have some savings in NPS, PF and have a term insurance. Even though currently bulk of my savings are in deposits, I'm allocating more than 70% of my future investments into equity. + +I tend to invest about 1 - 1.2 L every month depending on the expenses. Here's a breakdown of my current investment strategy: + +1. Recurring Deposits - 30 K +2. Nifty 50 Index Fund - 30 K +3. Parag Parikh - 20 K +4. Nifty Next 50 - 10 K +5. Small Cap fund - 10 K +6. NPS - 4.2 K + +Term insurance premiums are included in the expenses. Depending on my expenses, I tend to put in about 10-15 K every month ad hoc either into individual stocks, a smallcase or a S&P 500 fund. On top of this, I also invest 1.2+ L/year in ELSS to max out my 80C. My wife invests about 16-20 K every month - 50% in index funds and 50% in bank deposits. + +I don't have any plans to buy a home on an EMI and we don't have any plans for kids in the next couple of years. With that in mind, I want to maximize my savings rate and double my portfolio in the next 2.5 -3 years. + +Please let me know what you think and provide suggestions on how to reach my goal. +Crime map was invaluable to figure out micro market crime dynamics and cross check before investing. Has anyone found a free or paid alternative? + +Would be willing to pay a nominal amount monthly if it’s behind a subscription paywall since it was so useful +https://finance.yahoo.com/news/amazon-com-bans-foreign-sales-002006262.html + +(Reuters) - Amazon.com Inc said it has banned foreign sales of seeds in the United States after thousands of Americans received unsolicited packages of seeds in their mailboxes, mostly postmarked from China. + +"Moving forward, we are only permitting the sale of seeds by sellers who are based in the U.S.," Amazon said in an emailed statement on Saturday. +From [one of my posts a while back](https://www.reddit.com/r/Superstonk/comments/svl80n/were_in_2008_on_repeat_ill_show_you/) I wanted to show the newer apes and those who didn't see it the first time. How we got here and how it looks eerily familiar. + + + [Goldman Sachs, Deutsche Bank and Bear Stearns created](https://www.deepcapture.com/2010/04/goldman-sachs-john-paulson-and-the-hedge-funds-that-pumped-and-dumped-our-economy/) self destructing CDOs to crash the market in 2008 + +> In a civil suit filed Friday, the Securities and Exchange Commission charged Goldman Sachs with fraud for helping hedge fund manager John Paulson create collateralized debt obligations that he had secretly designed to self-destruct. That is, Goldman Sachs, at the direction of Paulson, hand-picked mortgages that were certain to go bad, and stuffed the mortgages (or rather, “synthetic” derivatives of the mortgages) into collateralized debt obligations that temporarily masked the true value of the loans. + +> Goldman isn’t the only bank that created these CDOs. Deutsche Bank, UBS, and smaller outfits, such as Tricadia Inc., perpetrated similar scams. All told, well over $250 billion worth of these  “synthetic” CDOs were sold into the market in the two years leading up to the financial crisis of 2008. Indeed, there is a distinct possibility that a majority of all the CDOs sold during those two years were deliberately designed to implode by hedge fund managers who were betting against both the CDOs and the financial system as a whole. +&nbsp; + +Here's [what they were doing](https://www.deepcapture.com/2010/01/john-paulson-and-the-greatest-pump-and-short-fraud-ever/) + +> An example of a particularly sordid scheme, orchestrated by hedge fund billionaire John Paulson, was discovered some time ago by David Fiderer, a blogger for the Huffington Post. The information in Fiderer’s blog is rather incriminating, and, of course, the mainstream media is not on the case, so I think it bears repeating. + +> As Fiderer explains, Paulson asked the banks to create those CDOs “so that they could be sold to some suckers at close to par. That way, Paulson’s hedge fund could approach some other sucker who would sell an insurance policy, or credit default swap, on the newly minted CDOs. Bear, Deutsche and Goldman knew perfectly well what Paulson’s motivation was. He made no secret of his belief that the CDOs subordinate claims on the mortgage collateral were close to worthless. By the time others have figured out the fatal flaws in these securities which had been ignored by the rating agencies, Paulson could collect up to $5 billion. + +> “Paulson not only initiated these transactions, he also specified the terms he wanted, identifying which mortgages would be stuffed into the CDOs, and how the CDOs should be structured. Within the overall framework set by Paulson’s team, banks and investors were allowed to do some minor tweaking.” + +&nbsp; + +The only guy to go to jail, [was running from this](https://www.deepcapture.com/2009/01/strange-occurrences-and-a-story-about-naked-short-selling/) and turned himself in (this story includes Jim Cramer) + +> Evidence suggests that Bernard Madoff, the “prominent” Wall Street operator and former chairman of the NASDAQ stock market, had ties to the Russian Mafia, Moscow-based oligarchs, and the Genovese organized crime family. + +> And, as reported by Deep Capture and Reuters, Madoff did not just orchestrate a $50 billion Ponzi scheme. He was also the principal architect of SEC rules that made it easier for “naked” short sellers to manufacture phantom stock and destroy public companies – a factor in the near total collapse of the American financial system. + + + +[Part two](https://www.deepcapture.com/2009/10/on-rolling-stone-penson-financial-the-mafia-and-naked-short-selling/) + +> Things become all the more weird when you consider that regulators and law enforcement do almost nothing to stop naked short selling, even though a growing number of prominent people – everyone from U.S. Senators to George Soros – insist that criminal naked short sellers helped take down Bear Stearns, Lehman Brothers, and the American financial system. Then there’s the weird fact that anybody who tries to shed light on this weird state of affairs is quickly subjected to smear campaigns that are…weird. + +&nbsp; + +By 2011 the FBI is saying publicly its still a problem and they're capturing regulations. + +> [They may be former members of nation-state governments, security services, or the military. These individuals know who and what to target, and how best to do it. They are capitalists and entrepreneurs. But they are also master criminals who move easily between the licit and illicit worlds. And in some cases, these organizations are as forward-leaning as Fortune 500 companies.](https://archives.fbi.gov/archives/news/speeches/the-evolving-organized-crime-threat) + +> This is not “The Sopranos,” with six guys sitting in a diner, shaking down a local business owner for $50 dollars a week. [These criminal enterprises are making billions of dollars from human trafficking, health care fraud, computer intrusions, and copyright infringement. They are cornering the market on natural gas, oil, and precious metals, and selling to the highest bidder.](https://archives.fbi.gov/archives/news/speeches/the-evolving-organized-crime-threat) + +> These crimes are not easily categorized. Nor can the damage, the dollar loss, or the ripple effects be easily calculated. It is much like a Venn diagram, where one crime intersects with another, in different jurisdictions, and with different groups. + +> How does this impact you? You may not recognize the source, but you will feel the effects. [You might pay more for a gallon of gas. You might pay more for a luxury car from overseas. You will pay more for health care, mortgages, clothes, and food.](https://archives.fbi.gov/archives/news/speeches/the-evolving-organized-crime-threat) + +> Yet we are concerned with more than just the financial impact. These groups may infiltrate our businesses. They may provide logistical support to hostile foreign powers. [They may try to manipulate those at the highest levels of government. Indeed, these so-called “iron triangles” of organized criminals, corrupt government officials, and business leaders pose a significant national security threat.](https://archives.fbi.gov/archives/news/speeches/the-evolving-organized-crime-threat) + +&nbsp; + +And these days we've got Citadel [playing games with Goldman Sachs](https://www.reddit.com/r/Superstonk/comments/qdhi14/the_trio_of_crime_citadel_goldman_sachs_and_bny/) who was the center of 2008 and [is still being sued over it.](https://www.reuters.com/article/goldman-sachs-lawsuit-idCNL1N2ST1UU) + +> NEW YORK Dec 8, 2021 (Reuters) - Goldman Sachs Group Inc must again face a class action by shareholders who said they lost $13 billion because the Wall Street bank hid conflicts of interest when creating risky subprime securities before the 2008 financial crisis, a judge ruled on Wednesday. + +> U.S. District Judge Paul Crotty in Manhattan rejected Goldman's claim that its general statements about its business, including that client interests "always come first" and "integrity and honesty are at the heart of our business," were too generic to mislead investors and affect its stock price. + +&nbsp; + +.... Do you remember [what came back in 2019 a few months before the secret $4.5 trillion bailout?](https://www.bloomberg.com/news/articles/2019-05-02/hedge-funds-resurrect-cdo-trade-this-time-they-say-it-will-work) + + +> [Out of the $4.5 trillion in loans for Q4 2019, the bulk of it went to Goldman Sachs (103 instances), JPMorgan Chase (197 instances), Deutsche Bank (200 instances), and Citigroup (143 instances).](https://tokenist.com/fed-finally-identifies-banks-received-4-5t-q4-2019-repo-program/) + +&nbsp; + + +Now we're currently in a situation [where Moody's is refusing to downgrade defaulting companies to prop up the place](https://www.reddit.com/r/Superstonk/comments/s6hlww/moodys_is_the_one_seemingly_lagging_behind_in/) even going as far as [upgrading Citadel](https://i.imgur.com/jGrjr5F.jpg) in the middle of all this. So that insurance won't have to pay. + +&nbsp; + +*** + +Change of topics, rehypothecation - 2008 to now. + +> [LibertyView Capital Management Inc. of Hoboken, New Jersey, owned by Lehman's Neuberger Berman unit, told investors on September 26 it had suspended "until further notice" attempts notice" attempts to calculate the value of its funds. LibertyView was not included in the Sept. 29 sale of Neuberger to Bain Capital LLC and Hellman & Friedman LLC.]( +https://economictimes.indiatimes.com/news/international/lehman-hedge-fund-clients-left-cold-as-assets-frozen/articleshow/3551534.cms) + + +> PricewaterhouseCoopers, Lehman's bankruptcy administrator in the U.K., where its European prime brokerage was based, doesn't know how much money is at stake. [PwC said last month it's trying to recoup about $8 billion in cash that Lehman's parent company allegedly withdrew from its European unit before the collapse. It will take weeks, if not longer, to sort out the mess, according to PwC.](https://economictimes.indiatimes.com/news/international/lehman-hedge-fund-clients-left-cold-as-assets-frozen/articleshow/3551534.cms) + + + +&nbsp; + +> Oak Group used Lehman's unit in London because it allowed the fund to borrow more than US prime brokers, James said. Operating under different regulatory requirements, European prime brokers have been more generous than their US counterparts, sometimes even within the same parent company, said Michael Romanek, principal at Rise Partners Ltd., which arranges financing for funds from London. "A lot of US managers would rather deal with Europe than New York," said Romanek. "Rarely do you see it go the other way." James's account had pledged equity securities as collateral that Lehman then lent to other investors under a practice known as rehypothecation. It's the fate of that collateral that worries many Lehman hedge-fund clients. + + + +&nbsp; + + +Read that again! These guys rehypothecate shares on top of [internalizing orders with PFOF](https://www.reddit.com/r/Superstonk/comments/q67qrl/is_citadel_really_is_trying_to_madoff_20_with/) (Madoff) + + + +> James's account had pledged equity securities as collateral that Lehman then lent to other investors under a practice known as rehypothecation. It's the fate of that collateral that worries many Lehman hedge-fund clients. + +&nbsp; + +Then... 2009 + + +> MR. NAGEL: On behalf of Citadel Investment Group, I'd like to thank the Commission and the staff for the +opportunity to be here today. At Citadel, we have over 19 years of experience as an active securities lending market participant. + +> And to support our private fund and market making businesses, we've built infrastructure that allow us to deal directly with the primary sources of securities loans, supply and demand, rather than rely entirely on intermediaries. Based on this experience, we believe that a well-functioning securities-lending market benefits all investors. + +> [Owners of securities can generate additional income or obtain financing by lending securities. Securities +lending also contributes to tight bid-offer spreads and market liquidity by enabling the orderly settlement of short sales.](https://www.sec.gov/news/openmeetings/2009/roundtable-transcript-092909.pdf) + +> At the Commission's May Short Sale Roundtable, I +explained Citadel's view that short selling benefits all investors and our economy by promoting liquidity and price discovery, and serving as a risk management tool for investors. + +> While the securities lending market has made great strides in recent years, we believe there is still +substantial work to be done before the securities lending market can reach its full potential. Despite its growing size, the securities lending market remains relatively opaque because there is little centralized collection or dissemination of loan pricing data. + +> Many securities loans are still bilaterally +negotiated between market intermediaries on the phone or by email and each party to a securities loan generally faces the credit risk of the other party for the duration of the loan. + +> Until recently, no centralized venue existed where borrowers and lenders could readily find each other and transact directly + +&nbsp; + +> In the U.S., margin regulations allow a customer to buy securities and they can pay for half of it and borrow the other half from their broker dealer. The portion of the securities that they don't pay for when they buy the securities -- the piece that they've, in effect, bought on margin -- the broker dealer is allowed to use those securities to help raise cash to replenish its own bank account for the money its lent to the customer. That term is rehypothecation -- I'm sorry, it's a very long word -- but it means basically to borrow securities in this case. + +> And the broker dealer can take those rehypothecated securities, those securities that were bought on margin, and pledge them to a bank to borrow money to replenish its cash supply, or it can lend securities to another party, and by doing so it replenishes its cash supply + + +That last part is important, the list of prime brokers/custodian’s that [Citadel has access to](https://imgur.com/a/67S62yU) means they could weave one giant web with themself/VIRTU + + +&nbsp; + + +Here's [Citadel's 2019 financial statement,](https://www.sec.gov/Archives/edgar/data/1146184/000114618420000006/CDRG_StmtFinCndtn2019.pdf) saying this. + + +> Collateralized Transactions +The Company enters into reverse repurchase agreements, repurchase +agreements and securities borrowed and securities loaned transactions to, among other things, acquire securities to cover short positions and settle other securities obligations and to finance certain of the Company’s activities. The Company manages credit exposure arising from such transactions by, in appropriate circumstances, entering into master netting agreements and collateral arrangements with counterparties. In the event of a counterparty default (such as bankruptcy or a counterparty’s failure to pay or perform), these agreements provide the Company the right to terminate such agreement, net the Company’s rights and obligations under such agreement, buy-in undelivered securities and liquidate and set off collateral against any net obligation remaining by the counterparty. + + +> During the year ended December 31, 2019, the Company had reverse repurchase and repurchase agreements with Citadel Securities Institutional LLC (“CSIN”), an affiliated broker and dealer, and Citadel Securities Swap Dealer LLC (“CSSD”), an affiliated swap dealer (Note 6), and non-affiliates. Securities borrowing and lending transactions are collateralized by pledging cash or securities, which typically include equity securities and are collateralized as a percentage of the fair value of the securities borrowed or loaned. Reverse repurchase and repurchase agreements are collateralized primarily by receiving or pledging securities, respectively. + +> Typically, the Company has rights of rehypothecation with respect to the securities collateral received under reverse repurchase agreements and the underlying securities received under securities borrowed transactions. As of December 31, 2019, substantially all securities received under securities borrowed transactions have been delivered or repledged. + +> The counterparty generally has rights of rehypothecation with respect +to securities collateral pledged by the Company for securities borrowed by the Company. The counterparty generally has rights of rehypothecation with respect to the securities collateral received from the Company under repurchase agreements and the securities loaned from the Company to such counterparty. Also, the Company typically has rights of rehypothecation related to securities collateral received from counterparties for securities loaned to those counterparties. + +> The Company monitors the fair value of underlying securities in comparison to the related receivable or payable and as necessary, transfers or requests additional collateral as provided under the applicable agreement to ensure transactions are adequately collateralized. + + +&nbsp; + +Here's [Dennis Kelleher talking about rehypothecation during the GameStop hearing](https://www.youtube.com/watch?v=chogYSWCA24&t=802s) calling it "a house of cards" + + + +&nbsp; + +ELIAPE: + +They call a bank and get a margin loan, half the securities they get with it can be rehypothecated. They, have those agreements with themselves. So they get one loan, and then get the same share multiple times, giving themselves money in the process. + +> > During the year ended December 31, 2019, the Company had reverse repurchase and repurchase agreements with Citadel Securities Institutional LLC (“CSIN”), an affiliated broker and dealer, and Citadel Securities Swap Dealer LLC (“CSSD”), an affiliated swap dealer (Note 6), and non-affiliates. Securities borrowing and lending transactions are collateralized by pledging cash or securities, which typically include equity securities and are collateralized as a percentage of the fair value of the securities borrowed or loaned. + + +One can use it to 'fulfill' naked shorts, one can use it to short the ticker, one can use it to sell at market, not on a dark pool to crash the price. + + +All they need is a shady bank, or 5 to help them. Bank makes a kickback for how many places buy it, they don't care that all forms of Citadel are using it to crash the price in the name of "liquidity" + + +> In the U.S., margin regulations allow a customer to buy securities and they can pay for half of it and borrow the other half from their broker dealer. The portion of the securities that they don't pay for when they buy the securities -- the piece that they've, in effect, bought on margin -- the broker dealer is allowed to use those securities to help raise cash to replenish its own bank account for the money its lent to the customer. That term is rehypothecation -- I'm sorry, it's a very long word -- but it means basically to borrow securities in this case. + +> And the broker dealer can take those rehypothecated securities, those securities that were bought on margin, and pledge them to a bank to borrow money to replenish its cash supply, or it can lend securities to another party, and by doing so it replenishes its cash supply + + +They also can all use the same share as collateral for more loans, to do it again + +&nbsp; + + +*** + +New subject, naked shorting. + +2008, the SEC [admitting it's happening and issues new rules.](https://www.sec.gov/news/press/2008/2008-204.htm) + +> Washington, D.C., Sept. 17, 2008 — The Securities and Exchange Commission today took several coordinated actions to strengthen investor protections against "naked" short selling. The Commission's actions will apply to the securities of all public companies, including all companies in the financial sector. The actions are effective at 12:01 a.m. ET on Thursday, Sept. 18, 2008. + + +> New Short Selling Rules + +> "These several actions today make it crystal clear that the SEC has zero tolerance for abusive naked short selling," said SEC Chairman Christopher Cox. "The Enforcement Division, the Office of Compliance Inspections and Examinations, and the Division of Trading and Markets will now have these weapons in their arsenal in their continuing battle to stop unlawful manipulation." + +&nbsp; + +[It currently is possible through Canada](https://www.reddit.com/r/Superstonk/comments/suvxgc/hot_potato_through_the_tunnel_under_the_border_a/) well, guess who [has Canadian companies](https://imgur.com/a/4sbeJCq) + +&nbsp; + +And then [this happens and the SEC hides names](https://www.natlawreview.com/article/sec-brings-naked-short-selling-case) + +> on May 19, 2021, the SEC charged a broker-dealer (“BD”) with violating the order-making and locate provisions of Regulation SHO.[1] Regulation SHO regulates short sales of securities and, broadly speaking, is aimed at minimizing naked short selling, failures to deliver, and other practices. + +> According to the Complaint, the BD mismarked 96% of a certain hedge fund’s short sale orders of two separate issuers’ stock, totaling more than $250 million, as “long” or “short-exempt.” This mismarking allegedly generated $1.6 million in brokerage fees to the BD. The effect of the mismarking was that the hedge fund was able to sell the securities short even though it already had a short position in the securities and did not borrow or locate additional shares to sell short. + +&nbsp; + +Well [look who has been sued for that situation before](https://www.reddit.com/gallery/qd27v5) and there's a lawsuit from 2017 [detailing what bullshit their algos actually are](https://imgur.com/a/xfpedtI) + +&nbsp; + +*** + +Craziest part about this? + +[Citadel's money is mostly foreign](https://imgur.com/a/sroliPP) + +Now let me remind you [what Hester Peirce](https://www.reddit.com/r/Superstonk/comments/rl2bfw/hester_peirce_the_other_dissenting_commissioner/) and [Elad Roisman](https://www.reddit.com/r/Superstonk/comments/rkuxnd/elad_l_roisman_is_suddenly_leaving_the_sec/) of the SEC were protecting. + +> [As a law firm representing a number of clients actively involved in markets for swaps +and securities-based swaps, we appreciate the opportunity to comment on selected issues raise by +the proposed rules issued by the Commodity Futures Trading Commission (the "CFTC") and the +Securities and Exchange Commission (the "SEC," and, together with the CFTC, the +"Commissions") that define key terms used and exemptions provided for in Title VII ofthe +Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010](https://www.sec.gov/comments/s7-39-10/s73910-88.pdf) + +> ***Non-U.S. Governments and their Agencies Should be Excluded or Exempted.*** + +> The Commissions' final rules should exempt or exclude non-U.S. governments and their +agencies from the definition of "swap dealer" and "major swap participant." Many such entities +enter into interest-rate, currency and credit default swaps to manage their currency reserves and +domestic mortgage and related securities portfolios. Agencies potentially affected include +central banks, treasury ministries, export agencies and housing finance authorities. The volume +of such transactions is substantial and may well exceed the levels proposed in the Commissions' +definition of "major swap participant." + +> We do not believe that Congress intended the requirements of Title VII to apply to these +entities, many of which are active participants in the swaps markets for legitimate governmental +purposes. To require non-U.S. agencies to register with the Commissions as swap dealers and +major swap participants would produce an incongruous result and would represent both an +unwarranted extraterritorial application of U.S. law and an unacceptable intrusion on the +sovereignty of foreign nations. + +> While it may be unlikely that any non-U.S. government or any of its agencies would meet +the definition of swap dealer, they are unquestionably significant participants in the swap +markets. Under the proposed rules, they could face the prospect of registration with the +Commissions, reporting sensitive financial data to a foreign, !.~. U.S., government regulatory +authority, and business conduct rules designed for commercial entities. + +&nbsp; + +*** + +You think this is bad? [Citadel internalizes treasury orders too](https://imgur.com/7vEp7KK.jpg) that's probably not good when [Citadel is 7 of 8 of the clearing members](https://i.redd.it/qcsfdlq0by471.png) for treasuries + +> [Fixed Income Clearing Corporation (FICC), a wholly-owned subsidiary of The Depository Trust & Clearing Corporation (DTCC), is the leading provider of trade comparison, netting and settlement for the U.S. Government securities marketplace. FICC’s Government Securities Division (GSD) was established in 1986 to provide automated comparison and settlement services, risk-management benefits and operational efficiencies to the Government securities industry](https://www.dtcc.com/clearing-services/ficc-gov/centrally-cleared-institutional-triparty) + +&nbsp; + +Oh wait, the FSOC told us it wasn't good. Right after the sneeze, (which they state there was a $1.1B Backtesting deficiency days before) [they say the treasury market suddenly lost liquidity](https://imgur.com/a/P3qYrOl) + +&nbsp; + +*** + +Now we ask, why are these things not showing up on anyone's books? + +Well [BNY Mellon holds them in Brazil for you](https://imgur.com/2uTQgH9.jpg) and we know they are American based holdings as [BNY's ADV form says they have ZERO foreign clients](https://imgur.com/a/s9uoeHA). + +Maybe you're asking yourself how this could happen, [well, Goldman has been there too](https://www.reddit.com/r/Superstonk/comments/q50q3j/was_bny_mellon_taken_over_by_goldman_from_the/) and BNY [didn't exactly care before](https://i.redd.it/4rsmlzn90vu71.jpg) + + +&nbsp; + +Final food for thought [look at the VW squeeze over the 2008 crash timing](https://www.reddit.com/r/Superstonk/comments/scgfs5/spy_vs_volkswagen_during_2008_crash_on_daily/) with all your new knowledge. +If I'm being honest I don't what to do or where to post this, I'm about to loose everything even money I don't really have because I asked for a loan. + +Here is what happened through my broker I bought in Facebook before the earning results, the executive assigned to me has proven successful up until this point and I alw prepared to loose something, but now it's been days, and Facebook keeps dropping, my loss at this point is 15K, I have a total of 30k in my account, half is mine and the other half is loans, the rollover is killing me each day, and it doesn't feel like the stock will go up any time soon, I don't have any margin left to open new trades to start compensating, I'm almost tempted to just close it with a 15k loss before it keeps dropping I loose everything. At least I will pay for the loans. Does anyone has any advice, what can I possibly do?? +Scenario: You and your 4 younger siblings (aged between 26 - 15 yrs) have inherited a combined $22,000 from a deceased parent. It has been agreed by all that you are to invest and sit on it for 5-10 years, if not more in the hope of turning it into a larger inheritance for all. How do you invest the money? + +I don’t have very much experience with trading, so I’m interested to read how you would invest the money. +If I'm being honest I don't what to do or where to post this, I'm about to loose everything even money I don't really have because I asked for a loan. + +Here is what happened through my broker I bought in Facebook before the earning results, the executive assigned to me has proven successful up until this point and I alw prepared to loose something, but now it's been days, and Facebook keeps dropping, my loss at this point is 15K, I have a total of 30k in my account, half is mine and the other half is loans, the rollover is killing me each day, and it doesn't feel like the stock will go up any time soon, I don't have any margin left to open new trades to start compensating, I'm almost tempted to just close it with a 15k loss before it keeps dropping I loose everything. At least I will pay for the loans. Does anyone has any advice, what can I possibly do?? + As you probably heard, Microsoft bought Activision/Blizzard for $70bil + +These articles got buried a long time ago. + +[https://news.microsoft.com/2020/10/08/gamestop-announces-multiyear-strategic-partnership-with-microsoft/](https://news.microsoft.com/2020/10/08/gamestop-announces-multiyear-strategic-partnership-with-microsoft/) + +[https://arstechnica.com/gaming/2020/10/microsoft-will-give-gamestop-a-share-of-xboxs-digital-revenues/](https://arstechnica.com/gaming/2020/10/microsoft-will-give-gamestop-a-share-of-xboxs-digital-revenues/) + +So Microsoft has a deal with GameStop that they share a % in all digital game downloads, DLC, microtransactions & subscriptions on Xbox consoles sold by them. + +Microsoft now owns some of the biggest publishers as a lot of companies are in a rush to create "metaverses" MSFT now owns the publishing rights to titles like Call of Duty, Skyrim, fallout, overwatch, diablo, world of warcraft, candy crush, halo and so on + +"Through this partnership, GameStop will standardize the Company’s business operations on Microsoft’s cloud solutions and hardware products to deliver rich new digital experiences to customers, creating the “ultimate gaming destination” for gamers in its vision to be the **premier omni-channel** customer access point for video game products" + +"The partnership aims to advance GameStop’s key strategic pillars and extend its *digital omni-channel ecosystem*" + +Would it be safe to say, potentially they are building the nft marketplace using Microsofts technology? + +Trade your digital games/nfts galore? + +Daniel Wang - " Some people ask me a question whether lrc will launch our own marketplace. **The answer is no.** We don't have a plan to launch our own nft marketplace, **but we are working with a premium owner to make sure they can launch their marketplace successfully and very soon.** + +"Just wait guys, the stuff that will be announced, will be worth 10 quarterly reports" + + +sent to me via monke - u/Appropriate-Wolf-437 +Does anyone know of any good podcasts to listen to for UK investing, or for a wider UK business environment such as M&A activity, business news etc. A lot seem to focus on the US market. +I tried a BBC business one the other day but it seemed to be more focussed on the end consumer of the products produced by the business, not how an investor would think. +Long post ahead, but I encourage you to read the whole thing. (This is a re-post, if you previously saw this I would appreciate an upvote for visibility. The previous post got a lot of traction but was removed a mod. I spoke to a mod on the team after and he kindly agreed to approve a re-post.) + +TLDR: Data points strongly point to Hedge Funds using tricks to appear as if they covered their shorts when they haven't truly covered, using an illegal method/loophole to "cover" their shorts with synthetic long shares generated from the use of options. Full version below. + +There’s an insightful piece on [TradeSmithDaily](https://tradesmithdaily.com/investing-strategies/the-drop-in-gamestop-short-interest-could-be-real-or-deceptive-market-manipulation/) that identifies two ways for both short interest and price to fall quickly. + +The first scenario is from retail investors not holding the line and panic selling, driving the price down further, releasing into the market more of the float and enabling shorts to cover/buy back shares at progressively lower levels. + +\*\* + +From TradeSmithDaily: + +Plummeting short interest along with a plummeting GME share price, in other words, could indicate that the Reddit army is headed for the hills, and the longs were selling early, giving the shorts a means to cover, as the longs got out… Important to note that if the long holders of GME shares did not break ranks and sell en masse, it would have been impossible for the share price to fall and hedge fund short interest to fall at the same time. because, without a critical mass of long-side holders selling into the market, the hedge funds covering their shorts would have nobody to buy from as they covered (bought back) their short positions. + +\*\* + +The second scenario is where hedge fund short interest in GME didn’t really dissipate but instead they played a trick to make it seem like it did, demoralizing the retail side and further “breaking the squeeze.” + +\*\* + +From TradeSmithDaily: + +The way the hedge funds could have done this — made it appear as if they covered their shorts, even when they really didn’t — involves trickery in the options market. + +The tactics involved are not a secret. In fact, the Securities and Exchange Commission (SEC) knows all about such tactics, and published a “risk alert” memo on the topic in August 2013. + +The SEC memo is titled “Strengthening Practices for Preventing and Detecting Illegal Options Trading Used to Reset Reg SHO Close-out Obligations.” You can [read it here via the SEC website](https://www.sec.gov/about/offices/ocie/options-trading-risk-alert.pdf). + +The memo contains a dozen pages of highly technical language, but here’s a quick rundown: + +* If short sellers are facing a squeeze because shares are hard to buy, or scrutiny for holding an illegal short position, they can create an appearance of having closed their short position through the use of deceptive options trades. +* A hedge fund that is short a stock can write call options on a stock — meaning they are now “short” the call options, having sold the call options to someone else (typically a market maker) — and simultaneously buy shares against the call options. +* The shares bought against the call options could be “synthetic” longs — meaning they are not part of the original share float of the stock — as sold to the hedge fund by the market maker that takes the other side of the options trade. +* This works because, if a market maker buys options from an options writer, the market maker has legal privileges to do a version of “naked shorting” as part of their hedging function. This is necessary, under the current rules and the current system, for market makers to protect themselves when facilitating options trades. +* As a result of the above transaction, the hedge fund that sold short calls was able to buy synthetic long shares against the calls. (A synthetic share is one that has a long on one side and a short on the other but wasn’t part of the original float.) The synthetic long shares are the other side of the naked shorts, legally initiated by the market maker, so the market maker can hedge. +* The hedge fund that bought the shares can now report that they have “bought back” their short position via buying long shares — except they actually haven’t! The synthetic shares they bought are canceled out against the short call positions they initiated, a necessity of the maneuver by way of the market maker’s hedging of the call position they bought from the hedge fund. + +It gets very complicated, very fast. But the gist is that **hedge funds can use tricks to make it look like they’ve covered their shorts — even if they haven’t truly covered, and can’t, for lack of available float — by way of exploiting loopholes** that exist due to an interplay of reporting rule delays, market maker naked shorting exceptions, and legal practices of synthetic share creation (new longs and shorts made from thin air) relating to market-making. + +Below is a section of the SEC memo (from page 8) that gets to the heart of it: + +***“Trader A may enter a buy-write transaction, consisting of selling deep-in-the-money calls and buying shares of stock against the call sale. By doing so, Trader A appears to have purchased shares to meet the broker-dealer’s close-out obligation for the fail to deliver that resulted from the reverse conversion. In practice, however, the circumstances suggest that Trader A has no intention of delivering shares, and is instead re-establishing or extending a fail position.*****”** + +\*\* + +In short (no pun intended) these tricks “help hedge funds maintain short positions that, legally speaking, they weren’t supposed to have because the shares were never properly located”. Which triggers alarm bells when we consider the extraordinarily high amount of FTIDs/Failed to Deliver Shares ([https://wherearetheshares.com/](https://wherearetheshares.com/)) and Michael Burry’s (now deleted tweet viewable here [https://web.archive.org/web/20210130030954/https://twitter.com/michaeljburry?lang=en](https://web.archive.org/web/20210130030954/https://twitter.com/michaeljburry?lang=en)) about how when he called back shares he lent out, brokers took weeks to actually find them with the implication they could not be located. + +These factors lend credence to the idea that shorts weren’t really covered but were given the impression of being covered with trickery using options, in order to “cover” short positions they shouldn’t have had to begin with because shares were never properly located. + +If this is true, and as explained there are signs that indicate it is, this would allow short side funds to prolong their short positions indefinitely. This inspires a thought experiment, **if funds are able to prolong their short positions with this method, wouldn't it make more financial sense for them to prolong their shorts rather than truly cover and close out their shorts at a -500% to -5000% loss** when prices were at 300-400 last week (when they supposedly closed out a majority/large amount of short positions)? The saying for stocks goes "its only a loss when you sell." The version for shorts would be "its only a loss if you close out your short positions." + +Another factor to consider is there are well reasoned posts [here](https://www.reddit.com/r/wallstreetbets/comments/ledjwa/how_there_is_no_mathematical_way_shorts_were/) and [here](https://pastebin.com/AuhuKJu4) (now a pastebin, originally a popular post from a reddit user) that present the argument that, mathematically speaking, shorts could not have afforded to truly cover the majority of their positions. Based on this logic, if shorts could not have afforded to truly cover most of their positions, it may have made the most sense for shorts to only cover their most underwater positions and prolong the majority of remainder shorts positions with the help of synthetic longs. The end goal being to wait for retail interest and stock price to go back down before truly closing all their positions (though FTID/phantom shares caused by the synthetic longs may be another complication for shorts to close their positions.) + +In addition, one point that may be relevant to explore is if a large amount of short positions were indeed truly covered, there would theoretically be immensely strong buy pressure to drive the price of the stock up. Instead, during this past week when shorts supposedly covered, price of the stock somehow went into a free fall. Why? Something to think about. + +I would be remiss to mention that another data point that may be of significance is that an entity recently purchased 43 million dollars worth of 800 dollar call options to expire in March ([screenshot from a WSB post](https://preview.redd.it/b21gob6z5ze61.png?width=1788&format=png&auto=webp&s=615555f4e98da988c49a89ea5991d6c7063ff7a9)). In practical terms what this purchase may seem to indicate is that whoever made the purchase believes there's a chance and risk the price of the stock could shoot past 800 by March, which would also suggest that they believe a squeeze is still possible and are hedging for it. If you happen to believe this entity is a hedge fund then you may draw your own inferences from that as to what that could mean. + +In considering the potential use of synthetic longs by shorts to prolong their positions we must also consider the possibility that shorts may no longer be under as much pressure as they were before to cover. What can retail investors do in that case? Two thoughts come to mind. + +**A) One recourse retail investors could have would be to encourage GME to issue a reverse stock split as it forces borrowers to return shares back to their holders, which in theory would put the naked short sellers in a compromised position. If you care about forcing the issue, you can follow the instructions** [**here**](https://www.reddit.com/r/wallstreetbets/comments/lcpwh0/how_gme_can_still_be_a_great_play/gm2tsnw/) + +**B) Another recourse would be to bring the matter to the SEC's attention for investigation, which you can do at** [**https://www.sec.gov/tcr**](https://www.sec.gov/tcr) + +Sidenote: On the subject of synthetic long shares, another instance where they came into the story recently was when S3 Partners released it's GME short interest % calculations last week, from a short interest from on 122% on 1/28 Thursday to 113% on 1/29 Friday) to 55% on 1/31 Sunday, which many found to be suspicious. Later it was discovered that number of 55% was calculated using the same data set that yielded 113% short interest percentage, but with the significant difference of including synthetic long shares into the short float equation, which is against standard practice but which S3 abruptly decided on Sunday to make their new main metric of SI%. Many questioned the logic and timing of this decision. One consequence of this decision was that the media picked up on the "new" short interest percentage of 55% and spread it as a new narrative during market open on the morning of 2/1 Monday. Whether this influenced subsequent buy/sell behavior, and if so to what degree, is something to consider. + +If you think about GME as a battle between short side funds and retail investors (there are likely other players involved but for the purpose of this analysis we'll focus on these two), information plays a major role and there is an information asymmetry on the retail investor's side. For example, hedge funds know the positions they're in and can share data with each other whereas retail investors are in the dark about many important data points. An example of an information asymmetry on the retail investor's side is the unavailability and general inaccessibility of true real-time short interest percentage. A lot of retail investors are waiting for the short interest report on February 9th to help inform them of their next moves, but while this report is a data point, the data in the report will still be two weeks old. With that said, examples of what investors have available for estimating the immediate short term interest are things like short interest borrow rate and calculated inferences from other data points. + +There's an adage oft repeated on WSB that retail investors can stay "retarded" longer than funds can stay solvent. The "paper hand" sell off earlier this week in part appears to contradict that statement. To explore it from a different perspective, if you consider the possibility that short side funds are taking a long term play (on their short positions by extending them with synthetic long shares), then so far it would seem that funds can stay solvent longer than paper hands can stay patient (case in point being the retail sell-off when the price started dropping.) + +At least one lesson that could be draw from this is that the better retail investors understand how hedge funds think and operate, the better it will benefit them in navigating this situation intelligently. An analysis of events of the the past week leads me to believe hedge funds deployed at least three tactics from the Art of War: + +* **"Deceiving and confusing the enemy is a more effective path to victory than openly fighting with them."** I personally believe the press release from Melvin Capital on 1/27 about closing their short positions was an example of this, they wanted us to believe their short positions were closed thus ending justification for the short squeeze. +* **"If you know your enemies and know yourself, you will not be imperiled in a hundred battles."** Hedge funds knew the weakness of the retail side was the lack of cohesion and leadership (by nature the lack of leadership was a disadvantage for any leader to the movement may be accused of manipulating retail buyers and scapegoated) and they knew that if price drops low enough many retail buyers will panic sell, so all they needed to do was attempt to drive the price down via whatever methods at their disposal whether thats through misinformation, calculated and continuous shorting, short ladder attacks ([read this for an explanation on how 'counterfeit shares', which are a form of synthetic shares created from naked shorts, can be used to ladder attack the stock price](https://www.reddit.com/r/wallstreetbets/comments/lf4vn3/yes_laddering_is_real_short_ladder_attack_is_just/), which also supports the thesis of large amounts of counterfeit shares currently being in play) and other potential methods. +* **"If his forces are united, separate them"** aka divide and conquer. Upon driving "weak-hands" to sell-off this divides the retail buying group and creates bears out of some "paper hands", who then spread their views and further the divide. Another example is the silver fake news/manipulation and the very real possibility of bots sent into this sub to push a message and sow division. + +I will leave you with that, and a reminder to do your own research, for as investors we do not have all the information available, and the most we can do is intelligently speculate with as much data and logic as we can gather. I wrote this post because I spotted some inconsistencies within the GME stock that in my opinion, once brought to awareness, would either be irresponsible or willfully ignorant to not examine further. If you agree with the ideas explored in this post, feel free to share with whomever you'd like, and thank you for your part in raising awareness. + +*To provide context for the timeline of events described in this post, this post was originally written on Thursday 2/4/21 and updated on Sunday 2/7/21.* + +*For liability purposes, everything in this post is simply a thought experiment. I am not a financial advisor and no part of what is written constitutes as financial advice.* + +If you'd like to read more into the subject of synthetic long shares and how it could be currently misused in the context of GME: + +[https://www.reddit.com/r/wallstreetbets/comments/ldjbg1/analysis\_on\_why\_hedge\_funds\_didnt\_reposition\_last/](https://www.reddit.com/r/wallstreetbets/comments/ldjbg1/analysis_on_why_hedge_funds_didnt_reposition_last/) + +[https://www.reddit.com/r/wallstreetbets/comments/lalucf/i\_suspect\_the\_hedgies\_are\_illegally\_covering/](https://www.reddit.com/r/wallstreetbets/comments/lalucf/i_suspect_the_hedgies_are_illegally_covering/) + +[https://www.reddit.com/r/wallstreetbets/comments/l97ykd/the\_real\_reason\_wall\_street\_is\_terrified\_of\_the/](https://www.reddit.com/r/wallstreetbets/comments/l97ykd/the_real_reason_wall_street_is_terrified_of_the/) + +[https://www.reddit.com/r/wallstreetbets/comments/lanf94/gme\_is\_a\_time\_bomb\_and\_its\_highlighting\_a\_severe/](https://www.reddit.com/r/wallstreetbets/comments/lanf94/gme_is_a_time_bomb_and_its_highlighting_a_severe/) + +[https://www.reddit.com/r/wallstreetbets/comments/lag1d3/why\_gme\_short\_interest\_appears\_to\_have\_fallen/](https://www.reddit.com/r/wallstreetbets/comments/lag1d3/why_gme_short_interest_appears_to_have_fallen/) + +[https://www.reddit.com/r/wallstreetbets/comments/l9rk78/sec\_doj\_60\_minutes\_public\_data\_suggests\_massive/](https://www.reddit.com/r/wallstreetbets/comments/l9rk78/sec_doj_60_minutes_public_data_suggests_massive/) + +[https://www.reddit.com/r/wallstreetbets/comments/l9z88h/evidence\_of\_massive\_naked\_short\_selling\_fraud\_in/](https://www.reddit.com/r/wallstreetbets/comments/l9z88h/evidence_of_massive_naked_short_selling_fraud_in/) + +[https://www.reddit.com/r/wallstreetbets/comments/lbydkz/s3\_partners\_s3\_si\_of\_float\_metric\_is\_total/](https://www.reddit.com/r/wallstreetbets/comments/lbydkz/s3_partners_s3_si_of_float_metric_is_total/) + +For another perspective on why the squeeze has not squoze you can read [this](https://www.reddit.com/r/wallstreetbets/comments/le235t/gme_institutions_hold_177_of_float_why_the/) +I feel like giving up, I have been trading for close to 2 years now what am I doing wrong? I know almost everything that needs to be known and use pure price action, should I give up? +Hello all, + +I am rapidly approaching my fatfire number, I plan to leave the bay area for my home country in less than a year. + +I own a townhouse in the bayarea with no mortgage. I won't have any use for it going forward, and my furniture is nothing special, certainly not worth shipping across the world to my dream house. + +So in preparation for my new life I need to trash all my junk, sell all my furniture / appliances etc, deep clean the house, stage it and sell it. But I am lazy and don't want to do all of that. Can you please recommend ways to throw money at this problem and make it go away? + +Thank you for your help and I wish you luck in your journey to fatfire. +Long post ahead, but I encourage you to read the whole thing. *(This is a re-post and an updated version of a GME DD that reached the front page of WSB and many requested it to be pinned. I am re-posting for visibility and because I believe the message should be shared, particularly at this junction in time. If you've seen this post before, I would appreciate an upvote for visibility)* + +TLDR: **Data points strongly point to Hedge Funds using tricks to appear as if they covered their shorts when they haven't truly covered, specifically an illegal method/loophole to "cover" their shorts with synthetic long shares generated from the use of options**. Full details below. + +There’s an insightful piece on [TradeSmithDaily](https://tradesmithdaily.com/investing-strategies/the-drop-in-gamestop-short-interest-could-be-real-or-deceptive-market-manipulation/) that identifies two ways for both short interest and price to fall quickly. + +The first scenario is from retail investors not holding the line and panic selling, driving the price down further, releasing into the market more of the float and enabling shorts to cover/buy back shares at progressively lower levels. + +\*\* + +From TradeSmithDaily: + +Plummeting short interest along with a plummeting GME share price, in other words, could indicate that the Reddit army is headed for the hills, and the longs were selling early, giving the shorts a means to cover, as the longs got out… Important to note that if the long holders of GME shares did not break ranks and sell en masse, it would have been impossible for the share price to fall and hedge fund short interest to fall at the same time. because, without a critical mass of long-side holders selling into the market, the hedge funds covering their shorts would have nobody to buy from as they covered (bought back) their short positions. + +\*\* + +The second scenario is where hedge fund short interest in GME didn’t really dissipate but instead they played a trick to make it seem like it did, demoralizing the retail side and further “breaking the squeeze.” + +\*\* + +From TradeSmithDaily: + +The way the hedge funds could have done this — made it appear as if they covered their shorts, even when they really didn’t — involves trickery in the options market. + +The tactics involved are not a secret. In fact, the Securities and Exchange Commission (SEC) knows all about such tactics, and published a “risk alert” memo on the topic in August 2013. + +The SEC memo is titled “Strengthening Practices for Preventing and Detecting Illegal Options Trading Used to Reset Reg SHO Close-out Obligations.” You can [read it here via the SEC website](https://www.sec.gov/about/offices/ocie/options-trading-risk-alert.pdf). + +The memo contains a dozen pages of highly technical language, but here’s a quick rundown: + +* If short sellers are facing a squeeze because shares are hard to buy, or scrutiny for holding an illegal short position, they can create an appearance of having closed their short position through the use of deceptive options trades. +* A hedge fund that is short a stock can write call options on a stock — meaning they are now “short” the call options, having sold the call options to someone else (typically a market maker) — and simultaneously buy shares against the call options. +* The shares bought against the call options could be “synthetic” longs — meaning they are not part of the original share float of the stock — as sold to the hedge fund by the market maker that takes the other side of the options trade. +* This works because, if a market maker buys options from an options writer, the market maker has legal privileges to do a version of “naked shorting” as part of their hedging function. This is necessary, under the current rules and the current system, for market makers to protect themselves when facilitating options trades. +* As a result of the above transaction, the hedge fund that sold short calls was able to buy synthetic long shares against the calls. (A synthetic share is one that has a long on one side and a short on the other but wasn’t part of the original float.) The synthetic long shares are the other side of the naked shorts, legally initiated by the market maker, so the market maker can hedge. +* The hedge fund that bought the shares can now report that they have “bought back” their short position via buying long shares — except they actually haven’t! The synthetic shares they bought are canceled out against the short call positions they initiated, a necessity of the maneuver by way of the market maker’s hedging of the call position they bought from the hedge fund. + +It gets very complicated, very fast. But the gist is that **hedge funds can use tricks to make it look like they’ve covered their shorts — even if they haven’t truly covered, and can’t, for lack of available float — by way of exploiting loopholes** that exist due to an interplay of reporting rule delays, market maker naked shorting exceptions, and legal practices of synthetic share creation (new longs and shorts made from thin air) relating to market-making. + +Below is a section of the SEC memo (from page 8) that gets to the heart of it: + +***“Trader A may enter a buy-write transaction, consisting of selling deep-in-the-money calls and buying shares of stock against the call sale. By doing so, Trader A appears to have purchased shares to meet the broker-dealer’s close-out obligation for the fail to deliver that resulted from the reverse conversion. In practice, however, the circumstances suggest that Trader A has no intention of delivering shares, and is instead re-establishing or extending a fail position.*****”** + +\*\* + +In short (no pun intended) these tricks “help hedge funds maintain short positions that, legally speaking, they weren’t supposed to have because the shares were never properly located”. Which triggers alarm bells when we consider the extraordinarily high amount of FTIDs/Failed to Deliver Shares ([https://wherearetheshares.com/](https://wherearetheshares.com/)) and Michael Burry’s (now deleted tweet viewable here [https://web.archive.org/web/20210130030954/https://twitter.com/michaeljburry?lang=en](https://web.archive.org/web/20210130030954/https://twitter.com/michaeljburry?lang=en)) about how when he called back shares he lent out, brokers took weeks to actually find them with the implication they could not be located. + +These factors lend credence to the idea that shorts weren’t really covered but were given the impression of being covered with trickery using options, in order to “cover” short positions they shouldn’t have had to begin with because shares were never properly located. To summarize, it is the act of prolonging an illegal short position with the use of synthetic shares generated through via a loophole that is the issue at hand. + +If this is true, and there are signs that it is, this would allow short side funds to prolong their short positions indefinitely. This inspires a thought experiment, **if funds are able to prolong their short positions with this method, wouldn't it make more financial sense for them to prolong their shorts rather than truly cover and close out their shorts at a -500% to -5000% loss** when prices were at 300-400 last week (when they supposedly closed out a majority/large amount of short positions)? The saying for stocks goes "its only a loss when you sell." The version for shorts would be "its only a loss if you close out your short positions." + +Another factor to consider is there are well reasoned posts [here](https://www.reddit.com/r/wallstreetbets/comments/ledjwa/how_there_is_no_mathematical_way_shorts_were/) and [here](https://pastebin.com/AuhuKJu4) (now a pastebin, originally a popular post from a reddit user) that present the argument that, mathematically speaking, shorts could not have afforded to truly cover the majority of their positions. Based on this logic, if shorts could not have afforded to truly cover most of their positions, it may have made the most sense for shorts to only cover their most underwater positions and prolong the majority of remainder shorts positions with the help of synthetic longs. The end goal being to wait for retail interest and stock price to go back down before truly closing all their positions (though FTID/phantom shares caused by the synthetic longs may be another complication for shorts to close their positions.) + +In addition, one point that may be relevant to explore is if a large amount of short positions were indeed truly covered, there would theoretically be immensely strong buy pressure to drive the price of the stock up. Instead, during this past week when shorts supposedly covered, price of the stock somehow went into a free fall. Why? Something to think about. + +I would be remiss to mention that another data point that may be of significance is that an entity recently purchased 43 million dollars worth of 800 dollar call options to expire in March ([screenshot from a WSB post](https://preview.redd.it/b21gob6z5ze61.png?width=1788&format=png&auto=webp&s=615555f4e98da988c49a89ea5991d6c7063ff7a9)). In practical terms what this purchase may seem to indicate is that whoever made the purchase believes there's a chance and risk the price of the stock could shoot past 800 by March, which would also suggest that they believe a squeeze is still possible and are hedging for it. If you happen to believe this entity is a hedge fund then you may draw your own inferences from that as to what that could mean. + +In considering the potential use of synthetic longs by shorts to prolong their positions we must also consider the possibility that shorts may no longer be under as much pressure as they were before to cover. What can retail investors do in that case? Two thoughts come to mind. + +**A) One recourse retail investors could have would be to encourage GME to issue a reverse stock split as it forces borrowers to return shares back to their holders, which in theory would put the naked short sellers in a compromised position. If you care about forcing the issue, you can follow the instructions** [**here**](https://www.reddit.com/r/wallstreetbets/comments/lcpwh0/how_gme_can_still_be_a_great_play/gm2tsnw/) + +**B) Another recourse would be to bring the matter to the SEC's attention for investigation, which you can do at** [**https://www.sec.gov/tcr**](https://www.sec.gov/tcr) + +Sidenote: On the subject of synthetic long shares, another instance where they came into the story recently was when S3 Partners released it's GME short interest % calculations last week, from a short interest from on 122% on 1/28 Thursday to 113% on 1/29 Friday) to 55% on 1/31 Sunday, which many found to be suspicious. Later it was discovered that number of 55% was calculated using the same data set that yielded 113% short interest percentage, but with the significant difference of including synthetic long shares into the short float equation, which is against standard practice but which S3 abruptly decided on Sunday to make their new main metric of SI%. Many questioned the logic and timing of this decision. One consequence of this decision was that the media picked up on the "new" short interest percentage of 55% and spread it as a new narrative during market open on the morning of 2/1 Monday. Whether this influenced subsequent buy/sell behavior, and if so to what degree, is something to consider. + +If you think of GME as a battle between short side funds and retail investors (there are likely other players involved but for the purposes of this analysis we'll focus on these two), information plays a major role and there is an information asymmetry on the retail investor's side. For example, hedge funds know the positions they're in and can share data with each other whereas retail investors are in the dark about many important data points. An example of an information asymmetry on the retail investor's side is the unavailability and general inaccessibility of true real-time short interest percentage. A lot of retail investors are waiting for the short interest report on February 9th to help inform them of their next moves, but while this report is a data point, the data in the report will still be two weeks old. With that said, examples of what investors have available for estimating the immediate short term interest are things like short interest borrow rate and calculated inferences from other data points. + +There's an oft repeated adage on WSB that retail investors can stay "retarded" longer than funds can stay solvent. The "paper hand" sell off earlier this week in part appears to contradict that statement. To explore it from a different perspective, if you consider the possibility that short side funds are taking a long term play (on their short positions by extending them with synthetic long shares), then so far it would seem that funds can stay solvent longer than paper hands can stay patient (case in point being the retail sell-off when the price started dropping.) + +At least one lesson that could be draw from this is that the better retail investors understand how hedge funds think and operate, the better it will benefit them in navigating this situation intelligently. An analysis of events of the the past week leads me to believe hedge funds deployed at least three tactics from the Art of War: + +* **"Deceiving and confusing the enemy is a more effective path to victory than openly fighting with them."** I personally believe the press release from Melvin Capital on 1/27 about closing their short positions was an example of this, they wanted us to believe their short positions were closed thus ending justification for the short squeeze. +* **"If you know your enemies and know yourself, you will not be imperiled in a hundred battles."** Hedge funds knew the weakness of the retail side was the lack of cohesion and leadership (by nature the lack of leadership was a disadvantage for any leader to the movement may be accused of manipulating retail buyers and scapegoated) and they knew that if the price drops low enough many retail buyers will panic sell, so all they needed to do was attempt to drive the price down via whatever methods at their disposal whether thats through spreading misinformation, calculated and continuous shorting, short ladder attacks (read [this](https://www.reddit.com/r/wallstreetbets/comments/lf4vn3/yes_laddering_is_real_short_ladder_attack_is_just/) and [this](https://www.reddit.com/r/wallstreetbets/comments/lb8hjc/datadriven_dd_i_analyzed_265000_rows_of_sec_short/) for an explanation on how 'counterfeit shares', which are a form of synthetic shares created from naked shorts, can be used to ladder attack the stock price, which would support the thesis of large amounts of counterfeit shares currently being in play) and other potential methods. +* **"If his forces are united, separate them"** aka divide and conquer. Upon driving "weak-hands" to sell-off, this divides the retail buying group and creates bears out of some "paper hands", who then spread their views and further the divide. Another example is the fake news/manipulation around Silver in the last two week and the very real possibility of bots sent into this sub to push a message and sow division. + +I will leave you with that, and a reminder to do your own research, for as investors we do not have all the information available, and the most we can do is intelligently speculate with as much data and logic as we can gather. I wrote this post because I spotted some inconsistencies within the GME stock that in my opinion, once brought to awareness, would either be irresponsible or willfully ignorant to not examine further. If you agree with the ideas explored in this post, feel free to share with whomever you'd like, and thank you for your part in raising awareness. + +*To provide context for the timeline of events described in this post, this post was originally written on Thursday 2/4/21 and updated on Sunday 2/7/21.* + +*For liability purposes, everything in this post is simply a thought experiment, and no part of what is written constitutes as financial advice.* + +**If you'd like to learn more on subject of synthetic shares or counterfeit shares (a counterfeit share is a type synthetic share), as well as red flags found by the community and how these shares could be currently misused in the context of GME, I highly recommend you give these posts a read**: + +[https://www.reddit.com/r/wallstreetbets/comments/ldjbg1/analysis\_on\_why\_hedge\_funds\_didnt\_reposition\_last/](https://www.reddit.com/r/wallstreetbets/comments/ldjbg1/analysis_on_why_hedge_funds_didnt_reposition_last/) + +[https://www.reddit.com/r/wallstreetbets/comments/lalucf/i\_suspect\_the\_hedgies\_are\_illegally\_covering/](https://www.reddit.com/r/wallstreetbets/comments/lalucf/i_suspect_the_hedgies_are_illegally_covering/) + +[https://www.reddit.com/r/wallstreetbets/comments/l97ykd/the\_real\_reason\_wall\_street\_is\_terrified\_of\_the/](https://www.reddit.com/r/wallstreetbets/comments/l97ykd/the_real_reason_wall_street_is_terrified_of_the/) + +[https://www.reddit.com/r/wallstreetbets/comments/lanf94/gme\_is\_a\_time\_bomb\_and\_its\_highlighting\_a\_severe/](https://www.reddit.com/r/wallstreetbets/comments/lanf94/gme_is_a_time_bomb_and_its_highlighting_a_severe/) + +[https://www.reddit.com/r/wallstreetbets/comments/le235t/gme_institutions_hold_177_of_float_why_the/](https://www.reddit.com/r/wallstreetbets/comments/le235t/gme_institutions_hold_177_of_float_why_the/) + +[https://www.reddit.com/r/wallstreetbets/comments/lb8hjc/datadriven_dd_i_analyzed_265000_rows_of_sec_short/](https://www.reddit.com/r/wallstreetbets/comments/lb8hjc/datadriven_dd_i_analyzed_265000_rows_of_sec_short/) + +[https://www.reddit.com/r/wallstreetbets/comments/l9z88h/evidence\_of\_massive\_naked\_short\_selling\_fraud\_in/](https://www.reddit.com/r/wallstreetbets/comments/l9z88h/evidence_of_massive_naked_short_selling_fraud_in/) + +[https://www.reddit.com/r/wallstreetbets/comments/lag1d3/why\_gme\_short\_interest\_appears\_to\_have\_fallen/](https://www.reddit.com/r/wallstreetbets/comments/lag1d3/why_gme_short_interest_appears_to_have_fallen/) + +[https://www.reddit.com/r/wallstreetbets/comments/l9rk78/sec\_doj\_60\_minutes\_public\_data\_suggests\_massive/](https://www.reddit.com/r/wallstreetbets/comments/l9rk78/sec_doj_60_minutes_public_data_suggests_massive/) +I have been lurking this sub for a while and I see a lot of memes and stupid gains but no one talks about what they do, how they do it and so on. + +How can I be like you guys? What do you look on a company? +Given that Goldman Sachs is advising the Twitter board on how to go about the bid from Elon Musk has a Sell rating with a price of $30/share, and Elon is offering way more, why are they suddenly backtracking and implementing a poison pill? + +I don't really care if Elon buys the company or not, but it seems to me that the deal is a no brainer from a financial perspective, at least from Goldman Sachs point of view? + +I don't believe the BoD has a fiduciary duty to the rest of the world to protect ''freedom of speech'' from Elon Musk, only to provide value to shareholders, so what gives? +I did check Zerodha's coin and PaytmMoney. Both don't have that option. + +I think it's wise to buy MF on the monthly expiry as markets generally are low on the expiry. +Based on my experience with the cryptos (I've been at this for about an hour now), and my research with Technical Analysis, I can confidently predict that the price of ether is going to move in a direction, or maybe stabilize at some level. Here, I drew some lines: + +https://i.imgur.com/RelgoK2.png + +As I sit here struggling to calculate taxes on an [ISO](https://secure.wikimedia.org/wikipedia/en/wiki/Incentive_stock_option) exercise (I may end up getting the Earned Income Credit *and* owing AMT), I'm overwhelmed by the sheer incomprehensibility of the US tax code. + +I believe the government has the right to collect income taxes. However, when the laws reach a level of complexity such that ordinary citizens cannot faithfully follow them (even with the expert assistance of an accountant), we are being deprived of due process. + +Any lawyers out there want a test case? I've got a clean history (tax and otherwise). Heck, I even used to *trade options for a living* and I still can't figure this stuff out. +Your markets are run by bots. Now your daily threads are too. + +&#x200B; + +This thread is for plans and thoughts prior to the market open period. + +Maybe use this time to read the [wiki](https://www.reddit.com/r/asx_bets/wiki/index/) [.](https://styles.redditmedia.com/t5_2hqqj5/styles/communityIcon_41pmnaqp4zn41.png?width=256&s=59bf38425fb316fdcba30365b272a5f19352f370) + +&#x200B; + +Posts relating to the "Is /r/ASX_bets about finance or effect your mental health?" etc will lead to a ban of the mods chosing. [You have been warned](https://www.reddit.com/r/ASX_Bets/comments/l0l9et/the_does_asx_bets_effect_your_finances_emotions/?utm_medium=android_app&utm_source=share). + +&#x200B; + +[We have an active official/unofficial discord. It's open to all discussions, stonks related and non-stonks related](https://discord.gg/ywAGqfUAQE). +**TL;DR: Susquehanna's recent 13/G filing shows over 3 million shares in GME. However, the footnote states that this ownership** ***'includes options to buy 2,957,000 Shares'.*** **You can't unless you're engaged in security based swaps or other derivatives...and I'm here to try and prove it.** + +&#x200B; + +**Let me be clear..'options to buy' doesn't necessarily mean traditional options...** + +&#x200B; + +u/Criand \- I think your little dog tittays are gonna be jacked to fuck. + +&#x200B; + +\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ + +# The inital filing + +Susquehanna have been on a bit of a rager recently, reporting over $2 TRILLION in assets from SPY Calls and more. However, their GME filing flew a bit under the radar and if it wasn't for u/DIAMONDHandsHotchy, I'd have missed it. + +&#x200B; + +[Filing link](https://fintel.io/doc/sec/1326380/000110465922022357/tm225754d8_sc13ga.htm) + +&#x200B; + +https://preview.redd.it/ne76eefosjr81.png?width=2833&format=png&auto=webp&s=acefe8a9f66f31b521829678d2faeb95d4e6feb2 + +**HOWEVER :** Let's understand exactly how they have this. + +&#x200B; + +https://preview.redd.it/1zxbiuo8tjr81.png?width=2980&format=png&auto=webp&s=695692b2a001899d31bfebdadb5f50909920b0f4 + +**So two things to pick apart here :** + +1: Includes the option to buy 2,957,000 shares. + +2: The purpose of the filing was to report that they have ceased to be the beneficial owner of more than 5% of GME. (So they were previously?!) + +&#x200B; + +So far I haven't explained much...but hold fire, I'll get back to it. First, I wanted to just highlight the filing but now, I want to dig on the purpose of an 13G/A Filing. + +&#x200B; + +\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ + +# The purpose of a 13G/A filing + +Okay straight off the bat, the A stands for 'amendment'. Nice and easy so far? + +I won't get too far into the history, but simply put - + +*Schedule 13G form is an alternative filing for the Schedule 13D form and is used to report a party's ownership of stock which exceeds 5% of a company's total stock issue. Schedule 13G is a shorter version of Schedule 13D with fewer reporting requirements. Schedule 13G can be filed in lieu of the SEC Schedule 13D form as long as the filer meets one of several exemptions.* + +&#x200B; + +Takeaway - Susquehanna previously beneficially owned more than 5% of GameStop via 'options to buy. So why did they make an amendment filing? + +*You must continue to make appropriate amendments so long as you continue to manage more than 5% of any class of an issuer's voting shares. If you fall below the 5% threshold, you must make one (final) amendment notifying the SEC of this.* + +\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ + +# Where it gets GOOD... + +The main question - How the f\*ck do they beneficially own over 3,000,000 shares? It's been theorised that it's swaps...and it is. Let me show you... + +Let me remind you that the purpose of a 13/G (or 13/D) form is **to report beneficial ownership, whether directly or indirectly.** With all the DRS talk by now, we should all be aware that being a beneficial owner can also mean **NOT YOUR SHARES**. + +A person may generally file a short‐form statement on Schedule 13G in lieu of a Schedule 13D if the person qualifies as either:  + +&#x200B; + +* a “qualified institutional investor” (under Rule 13d‐1(b)); (has to report within 45 days at the end of the year) + +  + +* a “passive investor” (under Rule 13d‐1(c)); (has to report within 10 days of acquiring) + +&#x200B; + +* or an “exempt investor” (under Rule 13d‐1(d)) ((has to report within 45 days at the end of the year) + +&#x200B; + +**We can work out what Susquehanna is based up on the time they reported the filing and the definitions. They're either an 'exempt investor' or a 'qualified institutional investor;...** + +I'll save the time - They fall under 'qualified institutional investor - as they are defined as a broker or dealer registered under the Securities Act. + +&#x200B; + +&#x200B; + +https://preview.redd.it/p3e6eq5n0kr81.png?width=614&format=png&auto=webp&s=4683651c6e5dcaf303c56ea00bad8eec5623c0e7 + +&#x200B; + +https://preview.redd.it/ntg16czn0kr81.png?width=2927&format=png&auto=webp&s=c1d606b6a8014d2ca2ed0366abdcbec91c7f0923 + +\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ + +# THE KEY PART + +***Section 766 of the Dodd‐Frank Act (“Section 766”) also amended Section 13(d)(1) by providing the SEC with the authority to require beneficial ownership reporting of security‐based swaps (“SBSs”)*** + +&#x200B; + +**READ THAT OVER AND OVER... NOW HERE IS THE QUESTION...** + +&#x200B; + +***Must a holder of more than 5% of derivative securities in an issuer make a filing on Schedule 13D or Schedule 13G?*** + +**Yes.**  Under the SEC’s current rules, holders of SBSs may be subject to beneficial ownership reporting requirements where an SBS “confers voting and/or investment power (or a person otherwise acquires such power based on the purchase or sale of \[an SBS\]), grants a right to acquire an equity security, or is used with the purpose or effect of divesting or preventing the vesting of beneficial ownership as part of a plan or scheme to evade the reporting requirements.   Under Rule 13d‐3(a), where an SBS provides a person with “exclusive or shared . . . voting and/or investment power over an equity security through a contractual term of the SBS or otherwise,” the person is considered a beneficial owner of the equity security. + +&#x200B; + +BONUS - U.S. courts have also held that holders of other forms of derivative contracts, in addition to SBSs, will constitute beneficial ownership for purposes of Section 13(d) or 13(g). **SPICY.** + +&#x200B; + +So...Can we realistically discern that this is proof of Security based swaps? I think the evidence is pretty damning if you ask me.... + +\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ + +# Case Study + +&#x200B; + +��**Okay...stick with me. I understand we're getting bogged down in text. This one, is worth the read for sure...**. + +In CSX Corporation v. The Children’s Investment Fund Management (UK) LLP et al., the District Court **ruled that holders of cash‐settled equity total return equity swaps (“TRSs”) held by short counterparties “would be deemed to beneficially own those shares for purposes of \[the\] Williams Act’s disclosure requirement.**” + +In CSX Corporation, CSX Corporation, a U.S. publicly held railroad company, claimed that funds associated with two hedge funds, The Children’s Investment Fund (“TCI”) and 3G Capital Partners Ltd., violated Section 13(d) when they failed to timely disclose the formation of a group, and that TCI violated Section 13(d) when it acquired a significant amount of CSX Corporation’s outstanding equity prior to launching a takeover attempt of CSX Corporation.   + +In making such determination that TCI was a beneficial owner of the TRSs, the District Court noted that the definition of beneficial ownership under Rule 13d‐3(a) is very broad “as is appropriate to its object of ensuring disclosure ‘from all . . . persons who have the ability \[even\] to influence control’. + +&#x200B; + +**OF COURSE THIS HAS HAPPENED BEFORE.** + +\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ + +# Conclusion + +We have always suspected that SHFs were engaged in swaps. This is more evidence and pieces to the puzzle that indeed shows this to be true. + +&#x200B; + +Furthermore - why be a beneficial owner when you can directly own your stock? DRS your shares people. + +&#x200B; + +My sauce and reference - [the sauce](https://media2.mofo.com/documents/faqs-schedule-13d-g.pdf) + +&#x200B; + +Love you all. + +Punny out. +Besides maxing my PPF and few lakhs of emergency funds in FDs, I was thinking of dumping the rest in Nifty 50 Index funds. But at the same time I view equity as a long-term investment of 5, 7 or 10+ years or even more. So I'm curious where & how I should invest the money which I require for the short-term like wanting to buy a car (smaller sum of 2 to 15 lakhs) or a house (higher sum of 1 to 1.5CR) over the next 5 years or so maybe? 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We've done Turbo Tax for 13 years. This year they wanted $120 out of our refund just to file. We didn't even have anything complicated. I have heard this a lot this year though. We filed for free last year. + +Tried Credit Karma. It's basically like doing a manual TT W-2 and it was actually faster. When I couldn't get last year's return AGI from TT without PAYING for it, I went to the IRS website and got it. It took 5 mins. Don't give Turbo Tax your money. +***$BOG \[Bogged.Finance*** *is the name & Binance Smart Chain is the game - aka yo mommas favorite crypto.* + +\- **Potential 10-100x** within a few months - This is a STABLE & STEADY growth coin - Watch this post age like fine wine! :) + +\- **Buy HERE :** [**BogTools.io**](http://bogtools.io/) **/ PancakeSwap** + +\- **Contract : 0xd7b729ef857aa773f47d37088a1181bb3fbf0099** + +Why BOG you ask? + +1. This is a project with a real use case - Read the **lightpapers** [HERE](https://bogtools.io/lightpaper.pdf) + +2. They have confirmed partnership with UniRocket on Telegram - Basically Bogs new charts are about to be promoted on EVERY UniRocket you see which is **HUGE. - ONCE AGAIN BOG IS ABOUT TO BE ON EVERY FRICKEN UniRocket!** + +3. They just released [**limit order trading on PancakeSwap**](https://bogged.finance/trade) **-** This means you can place a buy order on ANY moonshot crypto you'd like without having to be glued to the screen all day. It will execute the order once it hits that price. - **Limit sells & stop losses are incoming as well!** + +4. Their [**charts are HANDS DOWN the most accurate**](https://charts.bogged.finance/?token=0xD7B729ef857Aa773f47D37088A1181bB3fbF0099) and up to date available on BSC. - Prove me wrong. + +5. The [roadmap](https://bogtools.io/limit-orders/) is filled with promising announcements & releases. + +6. The staking mechanics are **AMAZING** \- **I make more staking BOG on the daily then I do at my normal job.** Its tokenomics encourages holders to stake their holdings, providing liquidity and supressing dips while at the same time making considerable profits on every $BOG transaction that occurs. - Basically you [**MAKE MONEY EVERYTIME**](https://bogtools.io/token/staking/) someone sells, buys, or transfers BOG. When it dips, your bags go up. + +7. The [**telegram**](https://t.me/bogtools) community is wholesome and informative - It's the best place to get updated, accurate info on BOG. Ask anything and you'll get an answer. + +8. It's not built on hype like... **PREPARE YOURSELF...** Safemoon, Hoge, Safemusk, Elongate, Safemars, PIT, Mando , SMRF, NCAT, Riskmoon , SafeGalaxy , Safeastrost , Fera , Safeorbit , COC , Fox Finance , Safetree... and 99% of BSC coins. Once the hype surrounding those coins die down, so does the coin. With an actual use case & solid staking mechanics, BOG holders are around for the long haul. We believe in the coin. + +9. Your mom will love you when you buy her a brand new lambo & house paid in full with BOG. Don't you love your mom? + +\[If you're still reading this psssst - **Rumored Youtube sponsorships incoming .\_. \]** +"Warren Buffett’s Berkshire Hathaway (BRK-A, BRK-B) stock moves for the second-quarter are out, revealing a new position in Barrick Gold. + +According to a 13-F regulatory filing, Berkshire Hathaway snapped up approximately 20.9 million shares of Barrick Gold (GOLD), a position valued at $563.5 million at the end of the quarter." + +https://finance.yahoo.com/news/warren-buffett-buy-barrick-gold-201428776.html +The wider market has bounced back over the past 48 hours as we all know and BTC seems content (for now) over 50K. + +Yet over the past month, DOGE has continued to fall - it's down 32.3% in the past 30 days, 20.4% in the past two weeks and 16.1% in the past seven days. + +Yes, DOGE has been here almost since the beginning, but Elon clearly fucked public perception with his misguided 'Hustle' comment on SNL and a LOT of attention and momentum has since turned to SHIB instead, as well as other shitcoins like FLOKI, etc, etc. + +I'm not a current DOGE holder, but given that the coin is now well out of the Top Ten (supplanted by LUNA), is it time to admit that DOGE has finally had its day? + +*EDIT*: Flair and so much for BTC holding 50K! +REMOVE ALL GODDAMN STOP LOSSES + +YOU NEW APES ESPECIALLY, REMOVE THAT SHIT + +CRYPTOBROS DONT EVEN THINK ABOUT IT + +OLD APES YOU ALREADY KNOW + +REMOVE ALL GODD DAMN STOP LOSSES WE DONT NEED THAT WHERE WE'RE GOING BECAUSE THERE WILL BE NO LOSSES WITH GME, ONLY GAINS + +SO TAKE THAT STOP LOSS SHIT AND SHOVE IT THE SSME PLACE THAT UNFORTUNATE BANANA GOT SHOVED + +*REMOVE YOUR STOP LOSSES* + +Edit 1: DONT GODDAMN DAY TRADE EITHER YOU MUPPET. YOU TAKE YOUR SHARES SIT IN THE BACK CORNER AND LEAVE THEM THERE AS YOU SHOVE CRAYON AFTER CRAYON UP YOUR NOSE UNTIL YOU PEE AND POOP RAINBOWS YOU SMOOTH BRAINED GLUE SNIFFING ASS FOOL + +Edit 2: Not financial advice + +Edit 3: thank you all for the awards and all round positive comments! Love this community and everyone in it!! + +Edit 4: adding this piece because it seems there's a LOT of new apes (welcome) or just some apes who aren't familiar (it's okay I'm smooth as hell - 100% sure my mum dropped me as a kid a few too many times) that aren't aware of what a stop loss is or how it happens - basically it's a limit sell order that YOU PUT IN at a price that is auto executed IF the price of the share drops to that amount to "prevent further losses". Hedgies can see our stop loss amounts on their end so if it lines up they can hit all those stop losses by shorting the stock to that price and send the price crashing...SO IF YOU RETARDED SHIT NUGGETS HAVE NEVER EVEN LOOKED OR STROKED THAT SELL BUTTON BEFORE YOU'RE SAFE +I first invested in crypto during the 2017 bull run, and I wanted to pass on a lesson I learned the hard way. When the market crashed in early 2018, my immediate response was to buy the dip because I wanted to DCA and recoup my losses. Then the market dipped again and I bought the dip again…then again…then again…then again…you get the picture. By chasing every single dip, I broke the golden rule of crypto - never invest more than you can afford to lose. I financially struggled for a while because of the position I stupidly put myself in. + + +Have a game plan, space out your money, and be patient. Every time I bought the dip, I thought “Wow, these prices are insane! It can’t get much lower than this.” Well yes, it can go much, much lower. +Looks like we have collectively saved over $200 billion this year while staying in lockdown, $167 billion over pre-pandemic levels. The govt feels there will be a spending spree once lockdowns are lifted, boosting your GDP and firing that economic rocket. + +Surely this will kick the ASX even higher. Are there any specific stocks that y’all think will go up faster due to this, I am thinking JB, Wesfarmers etc. + + https://www.afr.com/policy/economy/post-pandemic-war-chest-to-top-200b-20210903-p58oi +Let me start by saying that I am not trying to spread FUD by shitting on positive news, but we really need to have a discussion about the sharing of tweets from two very controversial accounts, ZeroHedge and FXHedge. + +I know a lot of people here like to share tweets from both ZeroHedge and FXHedge because they tweet things that we all hope are true, but being pragmatic is much more important than being obliviously optimistic. My hope here is that people understand that disinformation doesn't just come in the form of negative rumors, it also comes in the form of reinforcing preconceived opinions. Below I have outlined my reasons why we should ban any posts that consist of tweets from these two shit-weasel accounts. I know this topic will be very controversial, and I have made a concerted effort to remain non-political, but I know some will not see it that way. I apologize in advance to the mods that have to deal with the potential shitstorm coming. + +*(Note to readers: All sources are hyperlinked in the text, however some of them may be soft paywalled... you know what to do in that case.)* + +# The problem with ZeroHedge... + +ZeroHedge was founded and operated by a, I shit you not, [Bulgarian-born and U.S.-educated, former hedge-fund trader named Daniel Ivandjiiski. Ivandjiiski was also permanently barred from the securities trading industry by FINRA for insider trading in 2008.](https://newrepublic.com/article/156788/zero-hedge-russian-trojan-horse) His "partners", i.e. accomplices, are [Tim Backshall, a credit derivative swap shit-weasel](https://www.bloomberg.com/news/articles/2016-04-29/unmasking-the-men-behind-zero-hedge-wall-street-s-renegade-blog), and [Colin Lokey, a former Seeking Alpha content director](https://finance.yahoo.com/news/zero-hedge-unmasked-theres-more-142730165.html). + +[Lokey had a falling out with Ivandjiiski and Backshall in 2016 and no longer works with them.](https://newrepublic.com/article/156788/zero-hedge-russian-trojan-horse) + +[In recent years, ZeroHedge has also been promoting a conspiracy theory that is currently destroying families across the world. I can't say what conspiracy due to the fact that my post will be removed, but I'll give you three guesses as to which one that is... or just read the article linked here.](https://www.institutionalinvestor.com/article/b1nl1220xpsxpv/Why-Did-Financial-Flamethrower-Zero-Hedge-Go-All-in-on-Conspiracy-Theories) + +Ivandjiiski is the Bulgarian born son of Krassimir Ivandjiiski. [Krassimir Ivandjiiski is a former Soviet-era Bulgarian Ministry of Foreign Trade official who, since 1994, has been the publisher and editor-in-chief of the far-right Bulgarian political news website, Strogo Sekretno.](https://strogosekretno.com/index.php?p=aboutus) + +[Daniel Ivandjiiski is also a former employee at a hedge fund run by former Goldman-Sachs traders. Ivandjiiski was charged by FINRA of gaining US$780 from an insider trade on 14–15 March 2006. On 3 September 2008, FINRA reached their decision, published on 11 September 2008, that Daniel K. Ivandjiiski was to be barred from acting as a broker or otherwise associating with a broker-dealer firm, and from being a FINRA member. Ivandjiiski had not turned 30 at that time, and did not appeal the FINRA decision. In September 2007, before the FINRA ruling, Ivandjiiski moved to the Connecticut-based hedge fund Wexford Capital LLC, run by former Goldman Sachs traders.](https://en.wikipedia.org/wiki/Daniel_Ivandjiiski#Career) + +People also need to be aware that **ZeroHedge is literally a Russian disinformation network.** + +The following is an excerpt from a paper written by the well known and respected public policy think tank Rand... + +>[These entities include news aggregators, extreme political sites, blogs, and users drawn in by clickbait headlines that reinforce their previously held beliefs, in addition to media outlets that frequently echo the Kremlin line but are not obviously affiliated with Russia, such as ZeroHedge...](https://www.rand.org/content/dam/rand/pubs/research_reports/RR2200/RR2237/RAND_RR2237.pdf) + +That's a pretty bold claim, but if you take the time to read the report, it's a very well researched paper as you would expect from Rand. I thought one of the more interesting figures from the report was a map of Zerohedge's Referrer Network. Those referrer sites look... uhhh... well, take a look for yourself below. + +[ZeroHedges Refferer Network from the Rand research report, page 31 of the PDF.](https://preview.redd.it/9etpvclv2ah81.png?width=1192&format=png&auto=webp&s=0495bc1fa8567e72b36b2a1fc0a3b95650dc9c8c) + +I will stop here on the topic of ZeroHedge. I have given you the information and you can decide from there. + +# Now let's talk about FXHedge... + +Now FXHedge is much more difficult to find information on than ZeroHedge, as this is clearly by design, so I can only use Twitter analytics and common sense, as outlined below, to label them as completely untrustworthy. + +For those of you unfamiliar with FXHedge, all they do is tweet completely unverifiable information that draws in people with clickbait headlines that reinforce their previously held beliefs, like pending margin calls, some crypto scam baits, and curiously, a lot of bullshit about Russia and Ukraine. + +They do this all from an unverified account, because they don't want you to know who's running it. Even if you wanted to call them out on Twitter, you can't do it on their tweets because they only allow accounts that FXHedge follows, or they have mentioned, to reply. + +Some people have said that FXHedge is a bot, but I don't believe that at all. Bots tweet at all times of the day, but the Twitter account analysis suggests there is a live human being curating the account as a full time job. [It's clear that whomever is tweeting from the account is on a work-like schedule, which correlates with the tweets originating from within the continental US based on UTC world time.](https://foller.me/fxhedgers) + +[Does not appear to be a bot, nor a banana, nor cat.](https://preview.redd.it/5akypkv13ah81.png?width=913&format=png&auto=webp&s=a8f42bfc894f5b3a7853faa235fb9f1de750e7f2) + +My absolute favorite thing from the analytics though was the word/topic heatmap. The top 10 used topics/words used by FXHedge were... + +1. *says* +2. *ukraine* +3. *russian* +4. *military* +5. *fed* +6. *white* +7. *russia* +8. *warns* +9. *high stock* +10. *house* + +[This is cancer.](https://preview.redd.it/t5d21gdx2ah81.png?width=872&format=png&auto=webp&s=b6184435938a2d22116700520bb60bccf0073a50) + +This would be more hilarious if it wasn't so horrifying. Remember that scene from *Captain America: Civil War* where they've got Bucky is strapped down and that dude reads the code words in Russian to activate Winter Soldier? It's a lot like that. + +This account shows EVERY single sign of being a sock puppet account to push disinformation and to psychologically manipulate their ***262K*** followers. I guaran-fucking-tee that FXHedge is run by hedge funds, or most likely some state actor looking to wreak havoc on Western financial markets. They have gone to great lengths to make who is behind the account unverifiable as well. This looks to be straight from the Russian Internet Research Agency's playbook developed in the early 2010s. Either it's that agency itself, someone directly or indirectly working for them that's based in the US, or a hedge fund who's adopted their tactics because they saw how well it has worked before. + +That's about all I can dig up on FXHedge currently, so I again leave you with the information to make an informed opinion about them. I'd love to hear if anyone has any more information about who is behind that account. + +# In conclusion... + +These accounts are professional liars. Do not trust them. Do not share them. Do not believe them. Ignore them entirely and block them where you can. Some of what they say may be true, but that's how they get you. It'd be easy to ignore an account that is incorrect 100% of the time, but sprinkle in the occasional truth and that's how they have the power to suck people in. + +**The only account we should 100% trust is Ryan Cohen.** + +Thanks for coming to my TED Talk. + +&#x200B; + +**Edit:** + +*Credit to* u/royal_dump *for sharing an older post that I haven’t seen before.* + +[*This post more or less expands upon why I’m trying to convey here.*](https://www.reddit.com/r/Superstonk/comments/spsa4v/a_warning_about_twitter/hwi5z2p/?utm_source=share&utm_medium=ios_app&utm_name=iossmf&context=3) + +*On another topic, to the ones saying that we shouldn’t ban them and let people decide for themselves…* + +*I don’t understand this line of thinking. If you think boiling it down to something this simple works, then why is the advertising industry worth nearly a TRILLION FUCKING DOLLARS annually? You know why it’s worth that much?* ***Because it fucking works.*** *Whether you admit it or not, this shit works on all of us to varying degrees.* + +*We aren’t allowed to post porn, self promotion, and personal information, but for some reason suggesting banning some obvious shill accounts is somehow worse than those things? This sub isn’t run by the government, so the First Amendment doesn’t apply here. It’s well within the right of this sub to choose what is best for this sub.* + +*Also, I really don’t care if you guys think I have an agenda to push here. As has been suggested by others, I should have included additional accounts here, but I didn’t. You know why? Because I didn’t do any digging on them. I researched these two and presented the information here for people to verify and make a decision for themselves.* + +*I don’t really give a shit if some think I can’t be trusted. My goal wasn’t to get everyone to trust me, my goal was to get everyone to not trust these accounts.* + +&#x200B; + +**Edit 2:** + +*I was trying my best to reply to counter arguments here, but I’m just gonna take a step back from this post. I’m sorry if I can’t get to all the valid counter arguments here, but this post blew up way more than I thought it would and I just can’t keep up with it anymore.* + +&#x200B; + +**Edit 3:** + +*Cleaned up the formatting a bit so the figures don't show up as links.* + +***Also I'd like to request a favor... although appreciated, please stop with the awards***. *It's getting ridiculous. I don't want to be responsible to giving Reddit money. It's also not really helping with credibility of the post since it makes it look as if I have called upon my army of bots to artificially push this post to the top. I want visibility, not clout.* + +*Lastly, I hate that this post has put a picture of Fight Club as the thumbnail preview because that was the picture on the first link I have in the post. It’s dumb and I hate it. I hate it so much.* + +&#x200B; + +**Edit 4:** + +*Shout out to* u/deebrown68 *for making a bunch of shitty comments directed towards me that accuse me of being a shill, then reporting this post as disinformation, and then immediately blocking me after reporting me to the Reddit crisis bot. You seem very mentally stable.* + +&#x200B; + +**Edit 5:** + +*Thanks to* u/Whotopia *for sharing a* [God-level Due Diligence post from last year](https://www.reddit.com/r/Superstonk/comments/pilw2e/the_names_and_faces_behind_superstonks_for_profit/)*. It's not directly related to the accounts mentioned in my post here, but it gives you an idea of how some of these shill accounts operate. It was pretty highly upvoted, but after reading it, it still seems incredibly overlooked.* +When it does I’m finally gonna quit my shit job I hate it there can’t take it anymore I need this to happen! +I only go there now to pay off debts and fund crypto. + +Been there 8 years and nothing to show for it apart from my cryptos! + +No car. +No house. (Living with parents) 🤷🏼‍♂️ +Just a shit life in a shit job in a shit country! + +I’m in the uk so you can imagine how crap it is. + +No pay rises… +No interest on savings.. +No life here… + +Where I live is fiendsville.. +I’m typing this now and can hear my fat neighbours screaming at each other probably over a slice of bread! + +Get me out of this place! + +Cmon ETH! 💎 + +Let’s fucking go! 🚀🚀🚀 +Someone please clear this up for me + +Event 1 : I had applied for term insurance from an insurance company last month through policybazaar + +Event 2 : I got the proposal form, most of the details were wrong including my medical history and personal details, policy bazaar told they will forward it to the insurance company and that I need not worry + +Event 3 : I got the policy bond paper and none of the mistakes were corrected, I contacted the insurance company and they told me it can be updated + +Event 4 : After a 3 weeks of checking with them, They updated the data and generated a new policy bond paper as soft copy and I also got a policy change letter via email. The email said that the data has been updated. But here’s the thing the new policy soft copy does not have the corrected information and I did not get any anything mentioning what they have updated. I need to see it to ensure that these incompetent people have not fucked it up again. They are assuring me that correct details have been updated and that all I need is the policy change letter. + +I see insurance as a legal contract, I need to see the exact conditions under which the contract is operating. They are not allowing me to view the entire contract. So it is best to cancel this policy right? +I am a fairly new investor, I began in 2017. It has obviously been a stellar few years, did covid even happen? + +I have a close relationship with an old professor of mine (he has a doctorate in finance and has amassed serious wealth) who teaches investments at the college level, we often chat. He was a derivatives trader for 20 years back in the 80s and 90s. + +He swears and insists that when rates begin to rise the market is going to absolutely eat shit, and most if not all valuations will drop. He says that the market has been hooked on the feds liquidity since ‘08 and the withdrawals will be severe. He has been slowly divesting the past few months. + +I see where he is coming from, and he is obviously much wiser than me. In class he would always preach about if a stock falls 50% you need 100% gain to make your money back, therefore avoiding downside is much better than missing a little upside, which I also agree with. + +What I am not so sure of is that rising rates will spell doom for the markets. The most I could see is maybe slowed growth? But if rates steadily climb to around 4% on the 10 year that would actually be GOOD For the economy. + +Thoughts on this? Inb4 “long term time horizon I never sell” + +Edit: following up due to traction. This guys worst year was 2000 where he made -2%, which still massively outperformed the market. I understand the never sell mentality, but look at the facts: rates are at rock bottom, QE is off the charts. There is literally only ONE direction the fed can go. I predict rates will begin to rise (slowly) at some point next year. If you had a chance to miss massive downside, would you take it? Can you use logic to make prudent investment decisions or are you locked into never mitigating risk? I am actually beginning to consider slowly exiting. The risks are starting to compound significantly. + +Another aside: was the dip in 2H 2018 due to rising rates? +My girlfriend found a lady who claimed she works for a company called The Young America Mutual Insurance Company, and their whole shtick is they take insurance deposits of people that have passed away, and donate those to the younger people of America who are struggling with debt and making ends meet. The person at the company told her that she would transfer money to our account, my girlfriend would then transfer back about 70% of it, and the other 30% would be ours to keep. + +She needed to know our bank acct info before doing the transfer, so we emptied out the account just to be safe, and did the double transfer like she said. And then we did it the next day. And the whole time this is going on she is keeping in *constant* communication. Like messaging everyday constantly, just to make sure everything is going perfectly. + +My girlfriend is now getting just as skeptical as I am, because the woman told us to withdraw the money and send snaps of it to her. We withdrew as much as the ATM would allow, but just want to sit on it for awhile, because we know people have gotten in trouble for spending money that isn't theirs. Is this money ours, or are we getting scammed or used as a way to launder money or something? +Hi folks, + +I'm 26 years old, with a Master's degree in computer science, currently employed for an Italian start-up as Data Scientist for 42k/y gross (\~2.2k net monthly). + +I received an offer from an international company in Amsterdam for \~74k gross per year. I'll be eligible for the 30% tax ruling in the Netherlands. ([https://thetax.nl](https://thetax.nl/) says it should be \~4.5k net monthly). The company also offers a relocation bonus of \~5k and some other benefits like free transportation. + +Monetary wise I think it's a very competitive offer, but I would like to receive some external feedback before accepting. +I've been postponing buying at 3, 5, 7, 10, 12, 15, and now 23. I did buy some when it was a .8 though... I've just been expecting a correction and didn't finish dollar cost averaging. And well... it's fine... though, now I'm at this point... is it worth buying in again? Do you guys think price will crash once it hits a major exchange? How it's gone up is just unreal... but there is clear value in what Raiblocks is delivering +I often hear of those not wanting to contribute much to their 401k due it being "locked away until 59.5." However in my view, the penalty does not make the 401k an untouchable lockbox. All it is is a fee, not some illegal or super complicated thing. + + +In fact, if you were to FIRE, you could very well come out ahead by putting money into your 401k and then eating the fee vs investing in taxable brokerages. The combination of tax deferment, compounding growth, and effective tax rates could work in your favor. + +**Quick and Dirty Math:** + +Alice and Bob both plan to FIRE and each needs $40,000 per year to sustain their lifestyle. Alice has $25,000 gross income per year to invest and contributes it to her taxable brokerage account. Bob will take the same $25,000 gross income and invest it between his pre-tax 401k and traditional IRA. We will assume both Alice and Bob are in the 24% federal tax bracket, making about $100k/yr as single filers, and that they receive a 5% annual return. + +Using the 4% rule, Alice's FIRE target is 25x40,000 = **$1,000,000**. She does not meet the threshold to pay any capital gains taxes on withdrawal. + +Bob has to adjust his FIRE target since he knows he will be paying the early withdrawal penalty (10%) plus the effective tax rate on his annual withdrawals. His FIRE target is **$1,225,825**, based on 25x ($40,000 + 10% Penalty + Federal Effective Tax Rate of ~8.4%) + +|Year|Alice's Year-End Amount|Bob's Year-End Amount| +:-:|:-:|:-:| +|1|$19,000|$25,000| +|2|$38,950|$51,250| +|3|$59,898|$78,812| +|4|$81,892|$107,753| +|5|$104,986|$138,140| +|..|..|..| +|25|$906,814|$1,193,177| +|26|$971,115|**$1,277,836**| +|27|**$1,038,713**|$1,366,728| + +**Summary:** +Due to the upfront tax burden at a top marginal rate of 24%, Alice can only contribute $19,000 out of the $25,000 she allocates to invest per year. She reaches FIRE in the middle of Year 27. + +Bob reaches FIRE in the middle of Year 26, about a year ahead of Alice, despite having a higher target. He gets there first because: + + - He can shovel significantly more money into his investments each year + - Compounding is working harder in his favor + - His effective tax rate in retirement (~8.4%) is lower than the marginal tax rate (24%) he would have paid while working + +**Other Thoughts:** + + - If Bob had received an employer match, he would have gotten there even sooner + - Bob isn't going to pay the penalty forever. At some point he will reach 59.5, stop paying it, and his nest egg will remain larger than Alice's. + - Alice is going to have a tax drag during her working years due to dividend income, so realistically she'd perform worse (thanks to lurker_cx for making this point) + - If Alice and Bob made between between $60k/yr and $80k/yr and were in the 22% tax bracket, Bob would have still gotten there sooner but by a smaller margin + - If they were each married filing jointly, their marginal tax bracket goes down to 22% and Bob's effective tax rate in retirement falls to ~4-5%. He still gets there sooner. + - It doesn't matter whether you plummet the rate of return to 0% or ratchet it up to 20%, Bob reaches his goal sooner. + +**Conclusion:** +The early withdrawal penalty will not kill you. While this is a simplified scenario and your situation may vary, it's very possible you can eat the penalty and *still come out ahead* of investing outside retirement accounts. Of course there are caveats (don't eat the penalty too early) and **there are better paths than doing what Bob did** - diversifying your tax buckets, Roth conversion ladder, etc - but he committed what is often seen as a financial sin and still comes out just fine. +$GreatApe just airdropped some of their supply to another community harmed by a scammer + +The Great Ape community is awesome! Think they’ve only been around a couple weeks but are doing good such good work already. This week they decided to collect donations of their $GreatApe token and donate them via an airdrop to Fairmoon holders. This was after Fairmoon was rugged by known scammer Waronrugs. + +The Great Ape token itself is wicked as well. It was created by the dev who wrote the now famous Reflect code in RFI. That code has been used in so many tokens now for the friction-less yield that everyone does these days. + +This is the dev’s first Binance Smart Chain token too. Written from scratch and has lots of new features in the security of it and gas saving features. It’s 100% un-ruggable as well, as it was launched in a new way, with an ownerless contract and the LP was burned automatically on launch. + +Still under $2m marketcap with almost $700k liquidity on PCS too! + +Information: + +Supply: 100,000,000,000 $GREATAPE tokens + +Burned: 20,000,000,000 LP: burned on launch + +Elastic Tax: Currently 7.5% on each tx (5% to LP, 2.5% RFI fee to holders). This will reduce to 5% next week as well (2.5% LP and 2.5% RFI). + +Website: [https://greatape.cc/](https://greatape.cc/) + +BSCscan: [https://bscscan.com/token/0x7f4a15f5cf12e1650f090fb7bc7b0f240f1bde98](https://bscscan.com/token/0x7f4a15f5cf12e1650f090fb7bc7b0f240f1bde98) TG: [https://t.me/Great\_Ape\_Official](https://t.me/Great_Ape_Official) + +Twitter: [https://twitter.com/GreatApeCrypto](https://twitter.com/GreatApeCrypto) + +Medium: [https://greatapecrypto.medium.com/](https://greatapecrypto.medium.com/) +In 2018 I moved in with my partner. She already had two kids from a previous relationship. A year later she told me that she'd been claiming child benefit and because of my salary (over £50k) I would have to pay it back. I knew nothing about this and was shocked to say the least but went on to HMRC and paid ~ £1300. HMRC didn't request the money and I don't think they knew why I had sent them money. + +She stopped claiming it at that point (as didn't see the point of it me essentially paying her money in one bulk payment at the end of the year). Fast forward to today and she has now admitted to me that she restarted claiming it over the last 3 years to a total of about £8k. + +Again, I didn't know she was claiming it. Prior to us meeting she got herself into bad debt and repays a charity. Whilst she says the money was used for child care, at least a decent part of it has gone to repaying her debts. HMRC are not chasing this money as we don't appear to be linked in any way but my accountant has informed me that I must repay this. + +Aside from the dishonesty, where do I stand? I assume high income benefit tax is designed because both parties would know they are claiming it, and would have to repay it. If one party didn't know it was being claimed, where do they stand? Am I supposed to just take this on the chin? +Let’s show them how many of their traders are out. These fuckers are set to IPO this year, fools. Who’s trading data are you gonna sell if all of us leave? Shilling out to big money was the worst financial mistake of your pathetic wanna-be corps life. I’m out, but I’m not selling on RH until it’s motherfucking done. Collect tendies and your tax information and split. Who’s with me? + +GME 5000 is not a meme. + +I am not a financial advisor 🚀 +https://www.cnbc.com/2019/09/17/bill-gates-gave-away-35-billion-this-year-but-net-worth-didnt-drop.html + +Microsoft founder Bill Gates takes an aggressive approach to investing, with 60% of his assets invested in equities. + +Gates added $16 billion to his net worth this year, despite giving away over $35 billion to charity, according to Bloomberg. + +After Jeff Bezos, Gates is the world's richest person, with total wealth of $106 billion. +This is obviously not a huge deal for many people in this sub. I used to be much better about budgeting...life happened and I fell off the rails. I've realized I have spent roughly $250-300 / month just on personal eating eating out as I made it a habit to grab some food after hitting the gym during my lunch hour. Unless work provided food, I was never bringing food to the office. + +With trying to be better about saving in general, and realizing I haven't contributing anything to my 401k or Roth in 18 months...a change needs to happen. + +I know I won't go 5 days / week of never eating out..but I needed to make a change and it doesn't benefit me health/fitness wise particularly but I will figure out a better routine. I went to the store and bought some healthy PB, organic jelly, and some healthy bread and decided to just make a sandwich at my desk every day for lunch. My work has various snacks so I will pick at those. I bought a handful of the 90 second uncle ben rice packets as well. I can take 2 scoops of protein powder with me each day as well. + +I'm not good at prepping my food late at night or in the morning..part of that is bad time management, laziness, and forgetfulness. So making the sandwich with the ingredients in my drawer is sometimes easiest. + +But I know I can certainly have a good use for $200+ / month besides putting it in my stomach. + +**EDIT - holy shit. Thanks for all the comments everyone, and the recommendations. I used to prep in the past just fell out of it. I can't believe something this simple blew up though.** +What is your end goal with tfsa ? + +1. Hold growth stocks till retirement like rrsp and start withdrawal at retirement in conjunction with rsp. + +2. Max it out with dividend stocks and use it at monthly income ? + +3. Grow money to pass it on as inheritance. + +Obviously everyones financial situation is different and will have different goals but what is your perceived end goal ? +Hi all, +Just wanted to share my story to illustrate how important it is to stay the course. + +I used to be a volatility trader. That is, up until 2 days ago. + +For those of you who are unacquainted with the short vol trade, it's essentially a bet that the S&P 500, the heart of the US economy, will stay calm or regain equilibrium after a shakeup. It's amazingly profitable due to the natural mean reversion property of the VIX, and tailwinds from the way several of the volatility ETPs are structured. Sounds solid, yes? I thought so too. + +100% of the time in the past, after a volatility event, products like XIV and SVXY would suffer a large drawdown, and then after some resolution is reached with the original catalyst (or enough time has passed, volatility gets crushed). VIX futures begin to fall soon after to catch up with spot, and within mere weeks, XIV/SVXY recovers to its original price and then some! So, buying on these dips and holding until a recovery became a rudimentary strategy that piqued many others' interests, and spawned a plethora of well-backtested indicators, algorithms, systems, a subreddit, really an entire community. For many of us, including myself, our systems *were* the hedge. + +The last week or two, volatility had been steadily rising in response to multiple recent events, and so I averaged down exactly as how my strategy would have me do, buying large chunks of XIV at what seemed to be support points. By the time XIV was down to 122, I had run out of cash. I was all in - not that it mattered, of course it would recover well beyond where it started - after all, it has done this *every single time* since the introduction of VIX futures 15 years ago. To be fair, there were some warning signs such as an objectively terrible futures curve shape and the volatility of volatility products themselves. I had overridden those signals in my system to chase the dip, against my better judgment! + +All that changed Monday afternoon, right after 4 PM. The price went from 99 to 20, all in a matter of 15 minutes after the closing bell, where no stop loss could have helped. The indicative value of XIV was reported as being 4.22, an absurdly low number we all thought was a mistake at the time. Turns out there was no mistake. Both Feb and March VIX futures spiked up an unprecedented 110%, which never even happened during the Great Recession. This basically destroyed short vol products in one fell swoop. My final losses were 97%. + +After I calmed down enough to think straight, I did some back-of-the-napkin math. If I had simply taken the chunk of money earmarked for active trading, dumped it into VTSAX, and forgotten it existed, I'd be up $25k right now. Instead, I'm down $56k. More than an entire year's worth of working hard and frugally saving, obliterated. 8% erased from my FI/RE progress. + +So, there you go. As far as traders go, I'm probably a fair bit more sophisticated than your average mom-n-pop trend chaser. I had deep knowledge of the products I was trading. I've done my due diligence on the risks, created a risk model, quantified them, used that to create a system... but in the end, none of it helped. + +I still don't know where I'm going after this. Short vol is still a solid trade but it became immensely more risky in my eyes now since as the tail risk exposure feels much more real. I expect the volatility complex itself to stay more volatile until the trade gets less crowded, and the market as a whole becomes healthier (consider that 74% of growth in the past 9 years came from corporate stock buybacks, purchased with money raised from debt offerings, only made possible by the absurdly low interest rates). + +What should most people take away from this story? + +**The stock market will shit on your face when you try to get smart with it. Buy VTSAX and forget anything else exists.** + +For myself, I don't know if I can go back after being redpilled. I'm considering a core position of 80% /ES and 20% /ZN futures, rebalancing on a regular basis, and substitute with UPRO/TMF in places where I can't do futures. I think my volatility trading system still has value, but I would use it with MUCH smaller allocations and hedged with far OTM VIX calls. + +Thanks for listening. + + + +**EDIT:** + +Thanks for all the comments and feedback everybody. I am a bit thrown off kilter by how unsupportive the majority of comments are... I'm just trying to show people what could happen if you get too cocky and greedy with a high-risk-high-reward trade, and that it's definitely not for everybody. I just lost a ton, I realize I made mistakes, can you get off my case now? If everybody who posts a cautionary tale gets insulted and downvoted they might as well not bother posting at all. + +- Many are saying the strategy was fundamentally stupid to start with, but I feel like they literally don't understand the mechanics behind the trade and how to hedge risk. I guess you think Citadel/Two Sigma/Jane Street/etc. are all stupid too? Look up who the top holders of XIV were. I keep using that word 'hedge' over and over again, but, that was really the only thing needed to turn what was a total blowout into a minor setback. + +- Another misconception people keep saying is that the prospectus plainly states the long-term EV of all volatility products is 0; keep in mind I do not hold these things long term. I knew this, but XIV/SVXY aren't as much of a hot potato as you might expect due to the way it works and some properties of its underlying holdings, e.g. the lag between a spike in spot vix and a respective rise in the corresponding futures. A key to this is because of greed I ignored the warning signs. + +- Stop losses don't work overnight. The reason for not getting out before EOD is because you'd otherwise be missing out on the majority of the movement which kinda defeats the purpose. + +- Risk management is key, obviously. My allocation was well justified; following the Kelly criterion would have me all-in, even when overstating the probability of a total loss. The amount I lost hurt for sure, but it was the tractor, not the farm. +My father and my grandfather and my great grandfather could all sustain their families on a single middle class income. I'm not talking about america here alone. My grandfather and greatgrandfather were belgian and respectively french. + +Now I am older than when my ancestors started their families and I can just sustain myself. If I started a family it would be mandatory that my spouse also get a job. + +In the 21st century despite enourmous increases in efficiency I can't even dream to have their lifestyle. What happened? How could companies afford to pay that much back then but now it's apparently impossible? +It's been many many years that companies have been shorting stocks and basically stealing money from the average investors by manipulating the market for a quick buck. What is currently happening with GME is finally a time where the little guy can swing right back as a united army. Let this be a lesson to short sellers. We will not be taken advantage of. + +This is a little quote from when Volkswagen was shorted and it back fired. "VW short quickly saw their collective losses exceed $30 billion.   Hedge fund managers were “literally in tears on the phone” as they described “a nuclear bomb going off in our faces.” + +Ladies and gentleman, we hold until we see tears. Holding 200 shares and only shares. Calling $85 by end of next week. +**TL;DR - The entire ETF process is NOT what I expected. The creation and redemption process allows market makers like Citadel to remove shares from ETFs and sell the underlying securities. There isn't really a good TL;DR so I am to make this post as simple as I can.** + +\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ + +# How does an ETF work? + +Well, I hope I am about to rock your socks. Every time the short interest for XRT is posted, there is a large amount of comments attempting to speculate on just how and why they do it. The key to understanding how ETFs work is the "creation/redemption" mechanism. It's how ETFs gain exposure to the market, and is the "secret sauce" that allows ETFs to be less expensive, more transparent and more tax efficient than traditional mutual funds. + +&#x200B; + +*I will reference XRT as my example throughout.* + +&#x200B; + +**Step 1** \- When an ETF company (State Street) wants to create a fund, to track or gain exposure to a specific market, it turns to an **Authorised Participant (AP).** An AP is a market maker or large financial institution... I.E Someone with a lot of fucking money. + +&#x200B; + +**Step 2** \- The AP goes out on the open market and buys all of the securities that the ETF wants to hold. These securities will be bought in respect to the 'weighting' of the ETF. + +*Weighting - Think of an ETF like a pie chart. The bigger the percentage held, the bigger the slice of the pie. More weight = bigger part of the ETF.* + +&#x200B; + +**Step 3** \- In exchange, the ETF company gives the AP a block of **equally valued ETF shares,** called creation units. These are in blocks of 50,000 shares. This takes place on a 'one for one' basis i.e. you give me $1,000,000 worth of securities and I give you $1,000,000 worth of ETF units. + +*Both parties benefit from the transaction: The ETF provider gets the stocks it needs to track whatever, and the AP gets plenty of ETF shares to resell for profit.* + +&#x200B; + +**Step 4 -** The AP will then sell these ETF units on the open market for cash, at a profit, to regain the money spent on the underlying securities. + +&#x200B; + +**Okay! You're still with me? Pretty easy right. Get shares, give em to the ETF, the ETF gives back shares of the ETF for the same value.** + +*etf etf etf etf etf - fuck i'm gonna say that so much.* + +&#x200B; + +\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ + +&#x200B; + +# The creation and redemption process + +&#x200B; + +Now boys and girls, this is the important part. This is what keeps an ETF share price trading in line with the funds underlying NAV (Net asset value). + + + +Because an ETF trades like a stock, its price will fluctuate during the trading day, due to simple supply and demand. If many investors want to buy an ETF, for instance, the ETF’s share price might rise above the value of its underlying securities. + +**When this happens, the AP can jump in to intervene. Recognizing the “overpriced” ETF, the AP might buy up the underlying shares that compose the ETF and then sell ETF shares on the open market. This should help drive the ETF’s share price back toward fair value, while the AP earns a basically risk-free arbitrage profit.** + +**Likewise, if the ETF starts trading at a discount to the securities it holds, the AP can snap up 50,000 shares of that ETF on the cheap and redeem them for the underlying securities, which can be resold. By buying up the undervalued ETF shares, the AP drives the price of the ETF back toward fair value while once again making a nice profit**. + +This arbitrage process helps to keep an ETF’s price in line with the value of its underlying portfolio. With multiple APs watching most ETFs, ETF prices typically stay in line with the value of their underlying securities. + +&#x200B; + +&#x200B; + +https://preview.redd.it/uj3ikw5y2jt81.jpg?width=934&format=pjpg&auto=webp&s=b2404de1baf08f28d65a2ab575f49df9add303ce + +&#x200B; + +&#x200B; + +**Did you get that?** + +***I smooth it for people who can't read. Example:*** + +&#x200B; + +* All shares in ETF worth $1,000,000 +* ETF has 1,000,000 shares trading at $1. +* ETF shares = $1 million = Underlying shares in ETF worth $1 million + +&#x200B; + +**Everyone happy** + +&#x200B; + +* If underlying shares worth more, they buy the ETF shares to raise price. +* If ETF is worth more, they buy the underlying shares and trade them for ETF shares. They sell them to drop ETF price. + +&#x200B; + +**Everyone happy.** + +&#x200B; + +\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ + +&#x200B; + +# XRT, 1000% SI and FTDs + +Now we get to the good part. Here is some slight speculation but I do say, we're going to try and put 2+2 to get 4. + +&#x200B; + +&#x200B; + +https://preview.redd.it/90sdszkj4jt81.jpg?width=464&format=pjpg&auto=webp&s=66fddd735a0571b850b42827b58aaa8af78c768a + +You've seen this by now. A crazyyyyy amount of short interest? Well why? and how can they get GME out of it? + +We know they want the underlying securities *(ahem GME).* The process we spoke of above? This is very likely how they get away with it. + +Shorting XRT directly to knock GME down is impractical. You would not move the underlying stock because it's not even being sold! The process of removing the shares from the basket/fund and selling it, is what allows the price to drop. + +&#x200B; + +**Let's take a hypothetical situation;** + +&#x200B; + +**Step 1 -** Citadel takes it's creation units from XRT and 'sells them'. But they don't...they fail to deliver. They keep the shares the naughty rascals. In fact, **THEY MIGHT NOT EVEN HAVE THE ETF SHARES IN THE FIRST PLACE.** + +&#x200B; + +**Step 2 -** They head straight to State Street and say *'I would like to redeem these units in exchange for the underlying securities. GameStop is trading too damn high and is also pushing your fund value TOO DAMN HIGH. Leave the rest, I don't want the others. We can just use GME to bring your level back down.* + +&#x200B; + +**Step 3 -** State Street gives Citadel the underlying GME shares to sell on the open market + +&#x200B; + +**Note -** When the shares are handed back to the fund, the shares no longer trade and the outstanding shares of the ETF goes down. + +\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ + +# Conclusion + +So where does this leave Citadel. They buy the ETF because it's cheaper than buying the underlying stock. This is speculation and I'm trying to dig much deeper so any help would be appreciated, but fuck me if this isn't some stupid shady shit. + +&#x200B; + +&#x200B; + +Love you all. + +&#x200B; + +Punny out. +Need some help sense checking a big purchase I want to make. Is a $6m vacation home too much to spend with a $27m networth? + +Background; 39M, married, 2 kids, +sold majority stake in business few years ago. + +$27m Networth breakdown: +Stocks/Bonds: $15m +Alternatives: $6m +Cash/Tbills: $6m + +Still own 24% of business valued at around $30m (not counting this till check is cashed though) + +Salary from company I still own $300k/yr + +Personal residence is $3m with low monthly payment, no other debt. + +Don’t plan on Airbnb or renting the vacation home as I don’t like the hassle of that and want my nice stuff in home not crap Airbnb stuff. +I love and cherish my dad to death but he is extremely financially irresponsible - he has no savings, no retirement, no IRA and quite a bit of debt. He’s a great and loving dad but he just doesn’t know how to manage money or plan for the future. Recently, he just bought a brand new car and I imagined tacked on even more debt. Do you guys support your parents 100% or have allowances set up for them? My dad is in his mid 50s and has a family of his own to take care of that I’m afraid I’m going to get roped into in the future to support them. I don’t mind supporting my dad as he sacrificed a lot for me growing up but how do you guys do it? I tried getting him to set up retirement accounts and all but he doesn’t care. I feel like even if I set up a budget for him and everything, he wouldn’t follow it. It’s not even that he spends a lot in the grand scheme of things either, just has a lot of expenses due to his family and doesn’t make enough. + +I don’t want my dad to get screwed out of his last couple decades of life but I also don’t want to deplete all I’ve worked towards. +I just lost $15k because of scammer crypto traders and I want to let everyone know. If anyone is ever approached by a guy named Roy Ethan, or you ever hear of a site called Access Market Pro, run the other fucking way and don't be a fucking failure idiot like me. This is the universes way of telling me I will never, and don't DESERVE, to be financially independent because I'm a stupid fucking failure. I'm destined to be a gear until I'm broken and useless. +I've been debating sharing with this forum our experience in teaching kids how to save. ultimately, I think there are a lot of us here with kids (we're just too busy to post much), and I certainly love reading posts about people with kids and how they manage their FIRE methods. My hope in sharing this is that it'll be helpful to others and maybe even improve on the technique (and share if you do!). + +​ + +My husband and I are both avid stalkers of this forum and have been saving for years. Neither of us got any formal teaching in how to save - we just observed our parents making frugal choices and not overly-stressing over money and that more-or-less got the message through to us by mid-adulthood. Now we have 4 kids and we've been trying to figure out how to make the desire to save ingrained in a more proactive manner. I've read *"The Opposite of Spoiled"* and while we love the idea, our kids are ultimately still too young (our kids are 5 and 2.5). + +​ + +Here's where we stumbled on a surprisingly successful idea. We had been using "tokens" - ie poker chips - to reward good behavior. Start the day with 3 tokens and earn a token every time you do a big helper job (like taking out the recycle) or lose a token if you're unkind or disobedient. Tokens are not given out for their chores - each kiddo has chores they have to do every day and tokens are not awarded for those jobs done; we didn't want to get into a "pay me for doing any work around the house" scenario. We frequently remind them that the chore list grows as they get older and they've seen it happen, but because we by-large do chores as a family, there has been zero push back when we transfer jobs from token-earning to regular-chores. At the end of the day, the tokens are cashed in for sugar of various forms: right now a jelly bean is 1 token, a buttermint is 2 tokens, and an oreo is 5 tokens. The kids typically end up with a range between 3-7 tokens; on really great days they'll break 10. + +​ + +This worked pretty well for behavior adjustment, and then one of our 5 year olds had a really good day (lots of sugar at the end) and decided she didn't want to eat it all. She got a bowl with her name on it, and she saved the extra. We told her she could eat it the following day whenever she wanted - that it was hers. Our other 5 year old wanted a bowl with her name on it too, but (we were becoming wise) we told her she could only have a bowl if she saved. Now we had two kids saving candy day over day. + +​ + +They started telling the two 2.5 year olds how *awesome* it is to be able to eat candy the next day whenever you want. The littles tried it once, but ultimately instant gratification would win out. Then I decided to introduce interest. Our new rule is: if you save at least one jelly bean or half an oreo through breakfast the next day, you get *another* jelly bean in your bowl. This was life-changing for the littles - they now regularly save over and above what they have to and sometimes ask for their bowls just to count their candies. EDIT: I've had a few ask so clarification: interest is only 1 jelly bean total, no compounding :) + +​ + +At one point my 5 year olds took their candy bowls downstairs in the evening to play video games with me and ate all of their candy at once. I had warned them that it's easy to eat more than you expect while watching TV but ultimately we let them learn simple lessons the active way. And it was so exciting the next day to hear them comment to each other things like, "We shouldn't have taken our candy downstairs." "Yea, my bowl is empty and I'm sad." + +​ + +"*The Opposite of Spoiled"* is a great book and we'll definitely be applying it as the kids get older but my initial mistake was using cash - a currency kids just don't care about. By introducing small amounts of sugar as a currency instead, I feel like we're early on teaching them about the joys of surplus and the avoidance of instant gratification. What's more, they now have the terminology already in place - we talk about saving candy for later, earning interest on it. The hope is that they will have an active understanding of the power of saving from toddlerhood on. + +​ + +EDIT: Gold! Wow, I'm honored, thank you! + +EDIT 2: Thanks to the three of you who delayed FIRE to gild me :) +https://www.cnbc.com/2019/11/04/microsoft-japan-4-day-work-week-experiment-sees-productivity-jump-40percent.html + +Microsoft Japan tested a four-day workweek and has found the experiment a huge boon to employee productivity. + +The tech giant recorded an almost 40% jump in productivity levels after cutting its work hours as part of a wider project to promote healthier work-life balance. +EDIT #3: +Holy fucking shit, I've never been more misread in a short time period than this. What is your definition of *pumping* a coin? How do you define *pumping?* **Discussion is not fucking pumping, and therefore is NOT what I'm talking about.** Talk about LoopRing as you see fit, I'm not upset about that! Just don't tell people about how the coin is a "multibagger" and how they should "totally buy it." THAT is what *I* call pumping. You guys seriously need to read more carefully, I've never had to repeat myself this many times in my life. + +Superstonk is, and has always been, a GameStop (GME) sub. We have never tolerated pushing other stocks or pumping crypt0. I'm extremely suspicious of all the comments talking about how high LRC is going, and I'm even more suspicious of how many downvotes posts like this one are getting. + +**Nobody is saying not to buy anything, we're just saying not to pump crypt0 on Superstonk.** + +It is *not* FUD to enforce the rules of the sub (I wrote the fucking [dictionary](https://www.reddit.com/r/Superstonk/comments/qigqnm/a_dictionary_for_the_nonape/?utm_source=share&utm_medium=web2x&context=3) and nobody's disagreed with me yet), especially with everything we've seen since January. Remember when people would SPAM about the coin with the dog? I do. Remember SPAM about the popcorn stock? **I do.** We didn't tolerate it then, and I don't think we should tolerate it now. + +By NOT making a PSA, I'd be doing the sub a disservice. I don't care if there are similar posts to this one; I posted one of the first ones about it earlier today and was immediately silenced. + +GME is the play, and DRS is the way. I don't give a shit about LRC because that's not going to trigger or help the MOASS and only serves as a distraction. + +# NOTICE: I'm saying LRC, not LoopRing. + +I understand that a potential partnership is going on, but buying into their crypt0 before GameStop has even confirmed said partnership is like saying NFTCon would have triggered the MOASS. Feel free to discuss the platform and what the partnership can do, but **do not go on about the price of their coin on Superstonk.** + +I will be downvoting the "wut doin LRC?" posts, and I will be downvoting the "I bought LRC and I'm glad I did!" comments. Fuck you, I'll keep my eyes on the real money. + +And just in case you're an *actual* idiot, I'll say it again. **Buy what you want, but don't push it on this subreddit.** + +EDIT: + +Okay people, oh my fucking god. I'm talking about the *coin,* not the *company.* I can only repeat myself so many times. If LoopRing and GameStop's partnership is confirmed, wonderful. Still, don't pump crypt0 on Superstonk, regardless of whose it is. + +I'm **not** trashing LRC. I swear some of the people in this comment section can't read. + +EDIT #2: + +I've removed my other post because I had no idea it would become so abusive (never said I was smart). I'm still as anti-FUD as ever, but I'll censor usernames from now on. Had no idea this would blow up like this, I'm just an asshole sharing my opinion, so stop treating it like my word is law, okay? + +Guess we'll see what happens when the mods make a decision. +My friends are saying to me it is pointless to put my money into a savings account in a bank because the savings account interest rate is lower than inflation rate. + +I just take this to mean overtime I am losing money but can someone give me an example of how I am losing money and how it works please so I understand it better with an actual example? +TL;DR - My motivation to FIRE has taken over my life to the point where I'm having a hard time enjoying spending my money or the simple joys and journey of life because I see every decision as either helping or harming my ability to FIRE. + +\----------------------------------------------------------- + +I discovered FIRE about 2-3 years ago after a friend posted an article to a blog post from Millenial Revolution. Luckily enough, I had made some of the right decisions already (i.e. paid off my student loans, contributed to 401k up to match), but after I discovered FIRE and calculated that I could retire early in 7 years, I started to aggressively save, dumped every spare dollar into index funds, and lowered all my expenses. + +I hit $500K in net worth last month and it was a satisfying number to look at, yet as I was scrolling through old photos of myself from 5-7 years ago, I realized I wasn't necessarily happier for it. Over the past 2 years, I realized I've become more annoyed with work, and paralyzed or fearful of making any decisions that jeopardize my ability to FIRE. In the past, I would happily book an expensive, peak-season flight to an international country, buy a new camera just because I wanted it and I would be driven and motivated at work, exhibiting all the behaviors I needed to land that next promotion. + +But since discovering FIRE, I haven't taken any international trips, haven't bought anything that's expensive yet could further my hobbies or interests (e.g. new camera for photography, roof rack for car), and outright stopped caring about work to the point where my attitude towards it has become bitter and resentful. I figure if I just coast at my job for the next few years, I'll hit my FIRE goal within 5-7 years. But it is actually out of character for me to care so little about my career and feel so apathetic. My coworkers are pretty surprised and baffled at my apathy towards work. + +I'm seeing every single decision I make is either for or against achieving FIRE. Have a baby? But that might push out my FIRE date. Buy a house? It would be a dumb decision in NYC based on all the blog posts I've read. Hold a wedding? How many more years will I need to work? Buy a new laptop? But that's $XXXXX lost if I invested it in the market instead. Get a new job? Why bother, I just need to suck it up for 5 more years. Etc. Etc. + +Now I'm wondering if I would've been happier if I didn't discover FIRE at all... If I was ignorant? I see some friends who have no idea what FIRE is happily enjoying their money and their life and I am jealous of them. I feel like it's become a mental restraint I've placed on myself. And these next 5 years feel like they're going to be pretty miserable until I can hit my FIRE #. + +Any suggestions on how to break out of this mindset would be appreciated! +TITS ARE JACKED!!! I get it. After several days in the doldrums price is moving up and to the right, but don't let the excitement make you forget that the most important thing to do is vote your shares. RC and Co need a hard count of just how much fuckery exists. When Voting remember: + +1. Only use a link provided by your broker or the link on $GME's website. +2. Do not share you control number with anyone. +3. By voting for all directors proposed including Sherman it ensures all of their shares stay tied up. For example if sherman is not voted to the board he could sell his million+ shares immediately which could hurt the chances of MOASS. + +Why is voting important....... + +If more shares vote than should exist or more shares vote than there should be in the float......GameStop would make an announcement that they are investigating counterfeit shares or announce they will be using some sort of recall mechanism to get a hard count. Just the announcement of either would like cause short lenders to recall shares immediately. Which would be the catalyst to end all catalysts. + +This of course is not investment or voting advice. I am not a financial advisor. I just like the stock. + + + +****** IF YOU HAVE SUCCESS VOTING OR GETTING YOUR CONTROL NUMBER PLEASE TAG ME OR DM ME TO UPDATE THE BELOW LIST************ + +BROKER INTEL ON VOTING AVAILABILITY: (If your broker has not provided you documents or a control number you can call to request the control number. Use this number only on GME's official website. Do not trust any other link). + +VANGUARD - + +FIDELITY - April 28th is being reported + +TDAMERITRADE - Rumor is this week, but several have reported being able to get their control number via calling. + +E-TRADE - This week + +WEBULL + +CHASE + +Merril Edge - + +RBC - One user tagged me saying they were told June 1 at the earliest. hoping someone else can confirm + +Schwab + +Robbin Hood - I re + +E-Toro - Unable to vote + +Wealth Simple - + +Interactive Brokers - Late April / Early May + +Questrade - Should be able to request control number on the corporate action page. + +Stash - +The 4% rule seems to assume that after thirty years your net worth will be depleted. Many people in the FIRE community seem to have a "live the life you want and save for it" mentality, which seems to be a more refined version of YOLO. But basically many seem to agree that you should live your life and die with nothing in order to maximise what the money can do for you while you are alive. However, there seems to be a problem with this idea which is that people tend to live for longer than expected and age care is not cheap. + +I've looked at the lives of many old people and a lot of them seem to end up in overcrowded nursing homes. They have little privacy and the the ratio of nurses to patients is low meaning there is little care. These people generally have run out of money. + +However, I have seen a multimillionaire old man who lives in a self-contained unit in a retirement village. The self-contained unit has a button that he can press that sends a nurse to him on demand. This man has never married and never had kids and basically lived a frugal but comfortable life all his life. He plans to die a multimillionaire and give everything to charity upon death. He said that he is happy to die a millionaire because the wealth gives him security. +So recently the mods announced an increment of karma and account age requirements (along with new amazing technology to combat shills, holy shit, good work) to prevent FUD attacks on the sub. + +https://old.reddit.com/r/Superstonk/comments/nplhx7/game_stop/ + +**It really is necessary** + +This means genuine apes won't be able to post (although you can still post DD with the help of u/SuperstonkBot) and comment on the sub. But the silent majority is still really important for the community. + +You are still important, even if all you do if upvote and downvote stuff. Even if all you do is lurk, apes together strong. 🦍🦍🦍 + +DIAMOND FUCKING HANDS 💎🙌 + +Edit: Please read the mod pinned comment. You can bypass the karma requirements if approved by Satori, and I am really optimistic about this but it can't be perfect from the start, so *some* genuine apes will be restricted. My point is, upvoting good posts and downvoting FUD is still very important for the sub. For the stonk, all that matters is BUY HODL VOTE! See you apes on the moon 🚀 +Hello value investors, at the shareholders' meeting of Berkshire Hathaway in 1994. Warren Buffett was asked about BETA risk measurement, and he explained that he did not believe in BETA and that concept entered financial markets from academia, but I did not quite understand it. Can anyone give me an analogy for this explanation? +So, BBBY rising up fast and I gave a quick look at institutional holdings to see that Citadel and Susquehanna are now the 5th and 6th biggest shareholders on BBBY, with 2M shares each. + + +https://preview.redd.it/wal3dko893i91.png?width=857&format=png&auto=webp&s=4b11664292265dd99f590d5ed9ea236e1b44d224 + + + What's more interesting is that Cramer went on twatter ranting that "those short sellers" didn't learned their lesson and should've covered their BBBY positions while they could, and that's something that we've talked about here, ALOT, and the names of the short sellers that we refered here were Citadel and Susquehanna who are able to manipulate prices by re-directing buy orders to off- exchanges (darkpools) since Citadel is also a market maker (Pretty controversial right?), spoofing, etc. +It suggests that if they were to be investigated for abusive short selling and naked short selling of Gamestop in 2021, this looks like an attempt to use the BBBY squeeze as an excuse for these 2 hedgefunds to say they weren't in on it in Jan 2021, just as they are not part of it with the BBBY squeeze because they are obviously long on BBBY. + +News personae, hedge funds, potential big corporate CEOs getting together to ruin small businesses in order to make more profit, I think it's becoming pretty obvious to anyone that there's a vicious circle in Wallstreet, or a circle jerk if you will. + +&#x200B; + +https://preview.redd.it/1hxtcuw693i91.jpg?width=1439&format=pjpg&auto=webp&s=e073056f5e79da5a1cf0d6f5e0bab7e601c98cc0 +Hello all. + +I am no expert nor do I claim to know where things are going. But I am surprised that markets turned around so quickly again. I mean nothing changed. Ukraine is still a war zone, even Taiwan became more precarious after Pelosi showed up, inflation is still pretty high, a recession seems real and the Fed has raised the interest rates. + +So did the markets forget about all of this? What has changed? I don’t get it. + +I am interested in your opinion and appreciate your time to share. + +Thanks. +&#x200B; + +**!NEW CHARTS AT THE END OF THE POST - Updated 21.06.2021 01:42 CET!** + + +Hey everyone, + +time is running out for some people in the market and it's neither GME nor retail. + +A big issue in this whole GME situation is a lack of data. Retails just have access to limited informations, sometimes non, but in generall not enough. + +I spend the last month learning everything I could about data, what data is available and how to get this free data. + +[Thx to u\/hamzah604 for this great meme! :D ](https://preview.redd.it/xcsho42eb7671.jpg?width=500&format=pjpg&auto=webp&s=e0885a916b7d0d61c585208849b267e5ee30a5dd) + +Yeah, RegSho. Everyone knows RegSho. But the data just goes back as far as 1 year and thats it. + +Really? + +On the visible level - Yes. + +On smart brain level - No. + +I realised that the useable timeframe is moving on with the time passing by. So I asked myself - do they delete the files the moment they disappear on the webside? + +&#x200B; + +https://preview.redd.it/w8d0u3awb7671.png?width=286&format=png&auto=webp&s=28b0756e7417b8fa46a687f2aa776136635e94bb + +So I merged ALOT links in Excel, threw them into JDownloader and VOILA:11.551 Files - and a way more accurate data collection then Apes ever had! + +&#x200B; + +https://preview.redd.it/80vjjcijc7671.png?width=620&format=png&auto=webp&s=dab806ac11059f3787a21e0fa79953e0de80c636 + +I extracted all available GME data and all available CBOE Data back to 2010, merged them with Historical Data provided by Yahoo, Nasdaq and Fail To Delivery and **made on big MasterSheet for every GME retail.** + +The overall accuracy is around ~~45%. Means, 45%~~ **50,37% (recalculation at the end)** of all shares traded between 2010 and 2021 are displayed in the data. Its lower at the beginning of the timeframe, but gets better over time. + +I already produced some charts for people with the excel-level ape. + +I further organised my whole data collection, zipped it and **uploaded it on Mega so that EVERY FUCKING RETAIL has access to better data for free**, totally unrelated to GME. Its a shame that retails are getting no support - so we have to help each other! + +One chart from the Mastersheet shall be displayed here to raise your attention for data: + +[Timeframe 2015-2020 - Does anyone else see a pattern? \(Source: Mastersheet\)](https://preview.redd.it/33vqk8rwi7671.png?width=2015&format=png&auto=webp&s=b084e9e2e603011ace9b5dda290b063ea2a5c737) + +[Because my first calculation was like: WTF GME? This doesnt make any sense - Should compare! \(thx to the discord dudes giving me this stock names for a comparison\). The results are - interesting - And like: WTF?](https://preview.redd.it/63t4ssmvi7671.png?width=928&format=png&auto=webp&s=d0de8c44bc70e3f9977ac0f303e49a16a46baec9) + +I dont know if this data set is enough to proof naked short selling with data, but if this is the case, I really would like this SEC Award! :D SEC pls? + +**You can download the Mastersheet here:** + +[https://easyupload.io/ogovzr](https://easyupload.io/ogovzr) + +Contains all Information I could find for GME in the data sets. Contains prebuild charts and comparisons. + +&#x200B; + +**You can download the whole fkn collection ( 1,4 GB zipped, 4 GB unzipped - 22.734 Files)** + +[https://mega.nz/file/ikgUUCRC#HxOl0afMatKWpmmWrYOBMwQgQwVU2MHgGSoG0p1uRQk](https://mega.nz/file/ikgUUCRC#HxOl0afMatKWpmmWrYOBMwQgQwVU2MHgGSoG0p1uRQk) + +Contains my entire data collection - have fun! And pls, share it with every community that could have use for this information. The data collection is about ALL stocks - and I think alot retails rely their investment on bad data atm. If you want to work with the raw data on your own, get Notepad ++ - makes it way more easier to work with this amount of data. + +&#x200B; + +[To the Moon!!! ](https://preview.redd.it/p2aeqok3f7671.png?width=1182&format=png&auto=webp&s=9268bc219dfd78277936ebab2edfbabd7b8835b0) + +Thats the part a youtuber would ask for your financial support, but I have another request:If you make money because of this data collection, you already made a fortune in stocks and you are happy to finally have some quality data - **give some money to charity.** + +I worked 4 month to get this done - and you would make me happy if your donation would be for a **Children's hospice** \- because this is something that should be supported more. And I am pretty sure they would love to play some Mario or have a nice stuffed animal of their favorite character. + +**Let's take care of each other and support people who need our help.** + +**Let's change the world.** + +**Gamers and Retails United!** + +Best wishes and have a great Weekend! + +Your + +AnnihilationGod + +PS: I'll publish the link to the updated versions of the collection and mastersheet on my Twitter:@ Annihil4tionGod or here at r/Superstonk . If you got any questions regarding the data and so on, pls reach out. + +&#x200B; + +Usefull links to get daily data about shorting:[http://regsho.finra.org/regsho-June.html](http://regsho.finra.org/regsho-June.html) + +[https://www.cboe.com/us/equities/market\_statistics/short\_sale/?mkt=bzx](https://www.cboe.com/us/equities/market_statistics/short_sale/?mkt=bzx) + +[https://www.cboe.com/us/equities/market\_statistics/short\_sale/?mkt=byx](https://www.cboe.com/us/equities/market_statistics/short_sale/?mkt=byx) + +[https://www.cboe.com/us/equities/market\_statistics/short\_sale/?mkt=edga](https://www.cboe.com/us/equities/market_statistics/short_sale/?mkt=edga) + +[https://www.cboe.com/us/equities/market\_statistics/short\_sale/?mkt=edgx](https://www.cboe.com/us/equities/market_statistics/short_sale/?mkt=edgx) + +Historical Data (open, high, low, close, volume:): + +[https://de.finance.yahoo.com/quote/GME/history?p=GME](https://de.finance.yahoo.com/quote/GME/history?p=GME) + +[https://www.nasdaq.com/de/market-activity/stocks/gme/historical](https://www.nasdaq.com/de/market-activity/stocks/gme/historical) + +SEC Search Edgar (better then [Sec.report](https://Sec.report)):[https://www.sec.gov/edgar/search/?r=el#/dateRange=all&category=form-cat0](https://www.sec.gov/edgar/search/?r=el#/dateRange=all&category=form-cat0) + +&#x200B; + +**Add: I wanna thank SC - he helped me alot over the past months - this collection would not exist without his advice and support whenever I could not solve a problem!** + +Thx SC!;) I owe you a beer! + +&#x200B; + +**Update 22:50 CET** + +\*\*Add2:\*\*I couldnt accept that i couldnt find any stock so far with a negative quote like GME - so I made another research. I decided to choose the stock mentioned in this article I had read back in Feb 2021: + +[https://www.securitiesfinancetimes.com/securitieslendingnews/industryarticle.php?article\_id=224548&navigationaction=industrynews&newssection=industry](https://www.securitiesfinancetimes.com/securitieslendingnews/industryarticle.php?article_id=224548&navigationaction=industrynews&newssection=industry) + +[Perhaps someone who already downloaded the collection could crosscheck this pls?](https://preview.redd.it/6ualqyhiba671.png?width=478&format=png&auto=webp&s=fc3ac5612b14a7869a9b5fe404a8dbf69a398737) + +&#x200B; + +Add3: 20. June 2021:I have to admit that I did a mistake while calculating the accuracy of the data. It is 50.37% instead of 45% like i wrote before. + +https://preview.redd.it/9ldmzz9g8h671.jpg?width=633&format=pjpg&auto=webp&s=9c13ed4b7597f89827a99372df4f0a83625e2917 + +I looked deeper into the data to understand the relationship between regular volume and short volume better. This is the result for the Timeframe 2010-2021. I am trying to increase my data collection tonight and will try to find out, if the balance had been positiv before 2010. + +[Chart GME](https://preview.redd.it/co0zp2cfkh671.jpg?width=4932&format=pjpg&auto=webp&s=122e4b939fb5b55473b7136e6dc4896442e66bff) + +[Chart OSTK - I though it would be a good idea to use OSTK again because i already compared it above with GME. ](https://preview.redd.it/s4vay0et8i671.jpg?width=5166&format=pjpg&auto=webp&s=3a1f4b2085642b9ca0efae345e97b161c1add7cb) +Hello Everyone! + +2 years ago I was in a significant motor vehicle accident. Lawsuits were involved and I am receiving a large sum of money (\~$133,000). I am looking for the very best way to turn that money into a larger sum. But let me tell you a little bit more about myself and about my goals. + +I am a 24 year old male currently living in Connecticut, USA. I live in a Condo that I owe \~$80,000 on a 30 year mortgage that I purchased in August (first home). I lease a truck that is about $425 a month and I own one other car (roughly $90/month to insure). Other than that, I have no debt. 0 credit card debt, no student loans (never went to college). I make a $43,000 salary at my job but I probably make anywhere between $55,000 - $75,000 a year through bonuses and a side business I own. So as you can see, I make enough income for my expenses but I do really suck at saving money. I make big purchases a lot so I want to make sure I can turn this money I have into more money safely. + +I've never been a good saver, I currently have about \~$6,000 in my bank account currently. + +Now for my plans for the money. Number one, my goal is to be moved out of Connecticut, and moved to South Carolina by 2023. I hate CT and I realize how expensive it is to live here. My current employment will allow me to work remotely so I don't have to worry about finding employment. + +My overall goal is to open my own business fully. I wont get into super specifics but essentially I want to open a shooting range in South Carolina. + +&#x200B; + +So what I am looking to do is take \~$120,000 between now and the beginning of 2023 and make as much more money with it as possible. Then in 2023 I will take $50,000 out for purchasing a home in 2023 and try to grow the remaining amount. + +I am not very educated in this at all, I don't come from money nor have I ever had such a large sum of money, which is why I would like the opportunity to be smart with it and build myself a solid future. + +&#x200B; + +To those wondering about the $13,000 remaining from the money, I will be using that for personal uses and to pay off some remaining medical debt from the car accident (maybe $3,000 in debt). + +&#x200B; + +Any help is greatly appreciated, thanks so much! + +DM's are welcome as well if you have more questions! + +&#x200B; + +Edit: I neglected to mention, when I move to SC, I plan on renting out the condo I currently live in and am kind of interested in buying a second condo in the same building to rent out as well for some residual income. +When the markets fell last Monday, I invested around 10k in my MF holdings through KFintech and MyCAMS. The investment was way before the cut-off time for the day but as it happened the units got alloted 2-3 days later when the markets had recovered. Almost the same thing happens with automated SIPs as well. And today the markets have fallen again. + +How do you protect yourself from such volatility when investing via AMC website also doesn't guarantee same day NAV allotment? +https://livingwage.mit.edu/counties/06013 + +A living wage where I live is 21.88 + +Rando Alabama it’s 13.88 + +Why am I paying more income taxes? + +Reverse is true with the stimulus. Why does my stimulus get eaten by COL whereas it’s a windfall in AL? +I know that the consumption of cigarettes and/or alcohol results in negative externalities, and governments implement policies to reduce that. + +However I'm looking a for a concrete example of that happening in 2016-2017. + +Something along the lines of X country's/city's government increased indirect taxes on this good or they started a campaign titled "xyz". + +Examples from North America are preferred but I am also open to examples from other countries around the world. + +Thanks! + +EDIT: I know the title says cigarettes and alcohol, but I just learned that single-use plastic also creates negative externalities of consumption, so if you have any examples of policies combatting that please include it. + +2nd EDIT: the policy needs to have taken effect in 2016-2017, so if it was proposed a few years earlier then that's fine too. +Cuba’s government has clearly managed their country well to be able to survive intact for decades despite sanctions and a repressed economy. What specifically did they do to grant the country its longevity and political influence decades after it made the usually ill-fated switch to socialism? +This means no call holders can profit from the spike in IV, nor can anyone exercise their calls. It also means the MM who shorts using ITM puts does not see an immediate devaluing of their assets or loss of ability to exercise in the green. Following this line of thought, it's clear hedgies don't want this price increase to last till market open, even though liquidity is terrible in extended hours. Too bad for them! + +BUY. HODL. DRS. PLAY OPTIONS ONLY IF YOU'RE WRINKLED ENOUGH. + +💎🙌🏼🦍💪🏼🚀🌙✨ + +Character limit. Character limit. Character limit. Character limit. Character limit. Character limit. Character limit. Character limit. Character limit. Character limit. Character limit. Character limit. +Sister is 24 and has 100k in savings. She’ll be starting a job next year which pays 120k base + 50-70k bonus depending on how well her team does (she’s in investment banking). + +Lately she’s been stuck on the thought of buying instead of renting. We live an hour away from the CBD of Sydney so its understandable that she’d rather not have a lengthy commute given that she starts at 8am and often finishes past 10pm. + +She’s looked at a few apartments close to the city and most of them are 900k+ for 2 bedders. + +I feel like this a bad move and i’m not really one to give her advice. What are your thoughts on this situation? +I entered with 0dte sep 23 SPY calls near the green circle, and exited at the blue circle about 15 min later. Netted 20% profits, but missed out on almost 3x if I had stayed in longer. I feel that while I’ve been timing entries correctly for modest profits, I’ve consistently been exiting too early and missing greater profits for larger momentum plays. Any advice would be greatly appreciated, thank you! +I'm a transfer student at the University of Michigan (Ann Arbor) right now in my junior year. I have no prior internship experience. I currently am employed for a tutoring company and plan to go private next year and see how much business I can attract tutoring Econ 101 and 102 here, which will ultimately tell me how significant my other "career" will have to be post graduation, but I am most likely looking for a part time job with my economics degree in addition to tutoring. + +&#x200B; + +I absolutely loved Econ 101 and 102, and genuinely enjoy tutoring for them. I'm also a pretty big fan of my labor economics course and a pretty big fan of my econometrics course as well. Economics in general just really fascinate me, but I'm also not interested in getting a Master's or PhD at the moment and it appears in general that's all I can really do if I'm extremely interested in economics in general. Would you say based off of this that I should likely be looking for internships related to advising, analysis, and consulting, or what? I know I am late as well as I should have already found an internship and did one last summer, but I'm hoping to not get too far behind and be stuck with a not so great paying part time job after graduation. Thanks! +This is the official $GME Megathread for r/Superstonk. Please keep ALL conversations contained to Gamestop and related topics. + +**Not enough karma?** Here's a [**quick guide**](https://zapier.com/blog/how-to-get-karma-on-reddit/) on how to get it. + +# [announcements](https://www.reddit.com/r/Superstonk/wiki/index/announcements) + +* Make sure to check the Announcements regularly. 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I'm really glad for all the help I got. I'll be sure to implement a lot of what I've read today +This is a post for all to help teach newbies to learn the language of the pumper. Pumpers are shit. They make bold statements about stock prices and encourage uninformed retards to blow their tendy creation capital on dog-shit stocks. Their reasons are unknown but it is clear that they are attention seeking jag-offs and may live under a bridge. + +Here are some pumper phrases. Please add some that you have seen in your time or share a time that you fell for the lies of a pumper. Let's have some fun with this and teach our new ASX_Bets family members what to look out for: + +"Leaky ship!" + +"On a run!" + +"Guaranteed $xxx by end of Monday." + +"Ann due Thursday." + +"NOPTA approval DEFINITELY coming Monday at 9:59am!" + +"Drill results due! Will be positive" + +Trial result announcements from DXB. +I lost my food job because of COVID and I've been collecting unemployment. I have ~$6,000.00 in savings right now. I've been waiting to find a job again because what I'm collecting now in unemployment is much more than what I'd be making if I got a non- food job in my area, plus I don't want to put myself at risk of getting sick until I've collected as much as I can from unemployment. + +I can't shake the thought that the next few months are going to be very difficult financially since it's looking like the US economy could collapse soon. Besides having a decent savings account, what are some things I could be doing now to help myself later on when I'll be really tightening my belt? I need some serious "life is about to get 10x harder" tips. +*Sorry y'all I'm still figuring out titles! I'll use this title format from now on to make it easier to find!!* + +[Banner Submission by u\/Zwakenberg HARAMBE FINALIST 🏆](https://preview.redd.it/nnos4u468fx61.png?width=1250&format=png&auto=webp&s=b9e6e2f24e02e78e25327dd3be5a0c5d19f40733) + +# Good Morning Superstonk!!! + +&#x200B; + +**What's up to all our Korean Ants from yesterday's Livestream chat!!!** + +**🐜💪🦍💪🐜💪🦍💪🐜💪🦍💪🐜💪🦍🐜💪🦍💪🐜💪🦍💪** + +&#x200B; + +[Is everyone enjoying all their new wrinkles after yesterday's AMA?](https://youtu.be/AYct0XX0uTU) + +[**Don't miss Dave Lauer's summary post complete with powerpoint slides!**](https://www.reddit.com/r/Superstonk/comments/n5qp96/ama_followup/?utm_source=share&utm_medium=web2x&context=3) + +**We are LEVELING UP 🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀** + +\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ + +# 📢 Top Story- U.S. House Committee on Financial Services hearing set for today at 12 Noon Eastern 📢 + +## [Virtual Hearing - Game Stopped? Who Wins and Loses When Short Sellers, Social Media, and Retail Investors Collide, Part III](https://financialservices.house.gov/calendar/eventsingle.aspx?EventID=407748) (Link) + +# Witness statements have already been released: + +[**Gary Gensler**](https://financialservices.house.gov/uploadedfiles/hhrg-117-ba00-wstate-genslerg-20210506.pdf)**- Chairman, SEC (MUST READ!)** + +[**Michael C. Bodson**](https://financialservices.house.gov/uploadedfiles/hhrg-117-ba00-wstate-bodsonm-20210506.pdf)**- CEO, DTCC** + +[**Robert W. Cook**](https://financialservices.house.gov/uploadedfiles/hhrg-117-ba00-wstate-cookr-20210506.pdf)**- President and CEO, FINRA** + +https://preview.redd.it/040obk203fx61.jpg?width=611&format=pjpg&auto=webp&s=54b819b9e0237963f7f917d19001a894963b6069 + +Did I mention I'm actually frickin **STOKED** about this hearing?! Like, I didn't have very high hopes about it until the witness statements came out and I got to read *how tired they obviously are of Hedgie fuckery*. I always recommend you watch these kinds of things, but today you need to [WATCH THIS THANG!!!!](https://financialservices.house.gov/live/) (Or at least give the statements I linked above a good read. I promise you it will jack your tits!) 🚀🚀🚀🚀🚀🚀 + +A little detail from Gary Gensler's statement, since we've all been wondering what the heck he thinks of all this, given his hardass street cred from 2008... + +&#x200B; + +**Gary's statement focuses on the following 7 points:** + +&#x200B; + +1. **Gamification and User Experience** +2. **Payment for Order Flow** +3. **Equity Market Structure** +4. **Short Selling and Market Transparency** +5. **Social Media** +6. **Market “Plumbing”: Clearance and Settlement** +7. **System-Wide Risks** + +&#x200B; + +# Key takeaways: + +&#x200B; + +* **He's trying to trim down settlement time to T+1 or T+0 (same day)** +* **They are aware of dark pools and are investigating**, *"While the public generally thinks of the markets as public exchanges like Nasdaq and New York Stock Exchange, those big public markets had about 53 percent of the volume in January, according to public data. So where’s the other 47 percent? About 9 percent of January’s volume was executed at alternative trading systems. These alternative trading systems, commonly known as* ***dark pools***\*, emerged following the 1998 Regulation ATS rules, taking advantage of then-new advances in the internet and communications technologies. That leaves about 38 percent, the majority of which was executed by off-exchange wholesalers, a group that of firms that have been taking a growing share of trading volume. As publicly available data on reported trades show, just seven wholesalers made up the vast majority of this 38 percent.\* ***One firm, Citadel Securities, has publicly stated that it executes about 47 percent of all retail volume.*** *In January, two firms executed more volume than all but one exchange, Nasdaq."* + +&#x200B; + +**Also check out the section on Social Media (dat us)** + +[👀GARY GENSLER JUST CONFIRMED FUD AND SHILLS ARE A THING!👀 ](https://preview.redd.it/lthhqrjfbex61.png?width=797&format=png&auto=webp&s=f29d03824c18e0ddcfd3b0e57fd827b5d9912698) + +# "To be clear, I'm not concerned about regular investors exercising their free speech online. I'm more concerned about bad actors potentially taking advantage of influential platforms." + +https://preview.redd.it/6uztvolt2fx61.jpg?width=1095&format=pjpg&auto=webp&s=5c8d66330817cf964222100dd5a60caa4f7870e4 + +# [Here's the link to watch the hearing, live today at 12 noon Eastern](https://financialservices.house.gov/live/) + +&#x200B; + +[Throwback to DFV](https://youtu.be/sXNRttPfeSI) in the first congressional hearing, giving us all some hope when we needed it most (And telling fucking *congress* he wasn't a cat 😻) + +&#x200B; + +[Remember when he doubled down?](https://www.youtube.com/watch?v=w_rTu2y-Zu4) Just look how far this all has come!! 🚀🚀🚀🚀 + +&#x200B; + +**VIP (Very Important Post) from Dennis Kelleher himself- A must read before today's hearing!** + +[**Read the post here**](https://www.reddit.com/r/Superstonk/comments/n4z0ln/releasing_short_selling_fact_sheet_early_just_for/?utm_source=share&utm_medium=web2x&context=3) **and give @ BetterMarkets a follow on Twitter!** + +&#x200B; + +👽Totally trippin Pink Cats theory: Alphabet entities have been preparing their game strategy before allowing chips to fall, and this will be a pivotal turning point in the legislation of the GME saga... basically things can start happening now. [(Like NSCC-002)](https://www.reddit.com/r/Superstonk/comments/n5idj9/801_and_nscc002/?utm_source=share&utm_medium=web2x&context=3) + +\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ + +# Who turned down the volume? + +&#x200B; + +**So not only are we continuing to see entire minute candles with zero volume like we did yesterday, this time happening TWICE.....** + +[2 whole minutes with 0 volume on WeBull Lvl 2 yesterday](https://preview.redd.it/ze4pnx5vsex61.png?width=1237&format=png&auto=webp&s=0994ec83b2763e966c64517afee62ba9a9c08085) + +&#x200B; + +[**We also saw NEGATIVE 1MILLION VOLUME HAPPEN BEFORE OUR VERY EYES....**](https://www.reddit.com/r/Superstonk/comments/n5pk8v/negative_1_million_volume_after_hours/?utm_source=share&utm_medium=web2x&context=3) + +[NEGATIVE 1 MILLION VOLUME WOT THE HECC](https://preview.redd.it/gvcrvzcdtex61.png?width=960&format=png&auto=webp&s=277bc258803a50c171dc1072143452ed73a29170) + +The negative 1 million drop caused the daily volume across all reported channels to fall to just a measly 1.7 million. That's the lowest it's been since... like... ever. + +&#x200B; + +Just so you know, [this happened before Lehman Bros and Behr fell too.](https://www.thebalance.com/lehman-brothers-collapse-causes-impact-4842338) + +&#x200B; + +[According to this post](https://www.reddit.com/r/Superstonk/comments/n5t2fi/disappearing_1m_volume_mystery_solved/?utm_source=share&utm_medium=web2x&context=3), the volume drop was due [to the CTA system](https://ctaplan.com/alerts#110000353886), but tbh I'm smooth brain af and Idk what that means. All I know is the numbers are wonky and me likey wonky numbers. Wonky numbers make GME go brrr. + +🚀🚀🚀🚀🚀🚀🚀🚀🚀ohmygodwemightactuallybeclosetorocketlaunch🚀🚀🚀🚀🚀🚀🚀🚀🚀 + +# [Also Warden brought doritos for the whole class!!](https://www.reddit.com/r/Superstonk/comments/n5me5g/the_mother_of_all_wedges_an_endgame_dd_technical/?utm_source=share&utm_medium=web2x&context=3) + +\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ + +# 📢📢VOTEVOTEVOTEVOTEVOTEVOTEVOTE📢📢 + +As with anything, nothing changes if you don't VOTE!! + +# We can't talk about the importance of Proxy Voting without talking about Retail Shareholder Rights Expert, Carl Hagberg + +&#x200B; + +[You heard it from Dr. T: \\"Carl Hagberg is Original Gangsta'\\"!](https://preview.redd.it/wq58zyqvfex61.jpg?width=1024&format=pjpg&auto=webp&s=1cce2845e5a7ad313010f32d9ca057a070aadca7) + +# 💎 [Watch this OG Naked Short Selling documentary right heckin now](https://youtu.be/Kpyhnmd-ZbU) 💎 + +17:10 is when they start discussing Corporate Elections. But you need to watch it all. + +This documentary will help familiarize you with many of the *key* players that have been working for collective *decades* to expose and end the practice of naked short selling. Please, apes... pay homage to the apes that came before us- Like Dr. T, Carl Hagberg, Wes Christian, Darren Saunders (RIP), and more. This is the most worthy thing you could watch in your spare time right now. And it will also introduce you to the lovely, intelligent man that is Carl Hagberg, Retail Shareholder Rights Expert. + +We are so thrilled to have someone with extensive knowledge and experience with Shareholder Voting, especially before our Annual Meeting on 6/9. + +**Our AMA with Carl will be Wednesday, 05-12-2021 at 4pm Eastern. Details to come!** + +[**Upon Dr. T's recommendation, everyone needs to read this comment from Mr. Hagberg to the SEC regarding overvoting!**](https://www.sec.gov/comments/4-725/4725-4611649-176367.pdf) + +[If you are a pewdiepie fan, you have also seen Carl in this Swedish Grandpa video!](https://www.reddit.com/r/PewdiepieSubmissions/comments/kkc6k5/my_swedish_grandpa_tried_lingonberry_g_fuel_for/?utm_source=share&utm_medium=web2x&context=3) 🥰 + +# Voting + +[Oh lawd they votin](https://preview.redd.it/nii0hze4dex61.png?width=900&format=png&auto=webp&s=0369a2daf01c9d094c759e36bc407cf319b67258) + +Fidelity users, TDA, WeBull, Vanguard, Schwab, and more all reported being able to get their hands on their control number and vote as of yesterday. Feel free to drop a comment below if you have already voted and want to show that off! (I'll even give some voting flairs if you want!) + +Be sure to check your inbox and contact your broker if you have any questions. And also be sure that if you have multiple brokerages accounts, you will need to get a different control number for each one. So if you carry shares in 3 different brokerage accounts (I do, cuz I don't trust a bitch) then you will have 3 different control numbers and will be voting 3 different times. + +**Steps to Voting:** + +1. HAVE YOUR CONTROL NUMBER + +Obtained from your broker, not to be shared with anyone. This number should be confidential. + +2. INPUT THAT CONTROL NUMBER THROUGH OFFICIAL CHANNELS ONLY (THROUGH THE GAMESTOP CORPORATE SITE OR LINKS FROM YOUR BROKER). + +Do not input your control number unless you are 100% sure that the site is legit. + +3. UNDERSTAND WHO AND WHAT YOU ARE VOTING FOR. + +Take a moment to see what the board recommends you vote for if you are unsure. This community can not tell you how to vote, only you can decide that. + +4. SUBMIT YOUR BALLOT. + +5. SHARE WITH EVERYONE HOW PROUD YOU ARE TO HAVE VOTED. + +**Gamestop's Board of Directors is urging everyone to vote as soon as possible.** + +\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ + +🐈 **BUT PINK, WHAT IF I HAVEN'T GOTTEN MY CONTROL NUMBER YET?! 🦧** + +**Well, did you...** + +&#x200B; + +* Check your broker inbox for proxy info✔ +* Check your email✔ +* Send a message via your broker help/chat interface✔ +* Call your broker and request your control number✔ +* Look around the comments and other posts to see if any resources have been shared that might help you in your search✔ +* Check your broker's website for an FAQ- Many have a landing page with GME specific proxy info✔ + +Keep in mind some brokers just haven't issued them yet. And some are anticipating up to a week or longer wait before you can vote. Geez, it seems almost like they're having trouble finding the shares to vote or something. 🤔 + +**I can confirm that Robinhood and TDA are issuing control numbers that come up invalid when you enter them in the official Gamestop proxy website. I don't know what that means. I am still investigating why brokers seems to have their own landing page for proxy voting. Idk am not computer nerd, am just pink cat 🤷‍♀️ I can't wait to see what Carl has to say about that!!!!** + +[**More info from Euroapes trying to vote!!**](https://www.reddit.com/r/Superstonk/comments/mwpqdf/europoors_what_needs_to_be_done_to_be_able_to/?utm_source=share&utm_medium=web2x&context=3) + +[**And a report from Degiro**](https://www.reddit.com/r/DEGIRO/comments/n4kn6t/degiro_refuses_to_give_out_control_numbers_to/?utm_source=share&utm_medium=web2x&context=3) + +\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ + +# Good Vibes from Pink Cat ☮✌💖🚀🌝🐈 + +You saw Gary Gensler's statement about social media. He actually *confirmed* the fact that there are bad actors present online trying to sway public sentiment. **FUD and shills are a real thing. The American government is acknowledging it. There wouldn't be so much attack 24/7 if we weren't on the verge of something incredible.** So I urge you to always ignore (but report) the FUD and the attacks. And continue to live by the Ape's Creed of being excellent, and ape no fight ape. Remember the squeeze will not make us better people. That starts now. + +Hopefully by now we all realize that we are in charge of defending this golden think tank that has been likened to the city of Athens. We are fostering and nurturing knowledge and growth that is going to *change the trajection of human history*. Look at the caliber of people that are coming to speak to us in our AMAs and helping us address the issues of fraud in our economic marketplace and naked short selling. **Do you think all of this progress would be happening if we were crazy? Especially happening this quickly? We did sign up for a rocket trip, after all.** 🐱‍🚀🐱‍🚀🐱‍🚀 + +**Don't gamble more than you can afford to lose. Make sure GME isn't your life plan. Eat as healthy as you can afford. Drink lots of water. Get a little sunshine every day. Hug your family, your pets, and your GME extra tight every day. And make love, not war. ✌💖🦄🐈** + +https://preview.redd.it/4kwrrkqq5ex61.png?width=554&format=png&auto=webp&s=2d8f86335bc6c7d6bfa22c46cd53ef1d130d0e52 + +**Be excellent to each other!!!** + +Be friendly, help others! + +We are here from all different walks of life and all different countries. + +This doesn't matter as we are all apes in here, and apes are friends. + +Doesn't matter if you're a silverback a chimp or a bonobo. + +We help each other, we care for each other. + +**Ape don't fight ape, apes help other apes.** + +**This helps us weed out the shills really fast, because if everyone is helpful, the ones who aren't stand out.** + +Remember the fundamentals of this company. + +There is no sense of urgency, this will come when it comes, be a week, be it a month be it six. + +We don't care, just be nice and lets make this community as Excellent as we can. + +[It's Gary Gensler with a steel chair!!](https://preview.redd.it/2upth82j5ex61.png?width=591&format=png&auto=webp&s=4688949a968e850317aab6c956b051036ea69f57) + +# In the event of another Reddit blackout, please follow our socials on Twitter and don't forget the Superstonk Live YouTube + +[**https://twitter.com/PinkCatsOnAcid**](https://twitter.com/PinkCatsOnAcid) + +[**https://twitter.com/RedChessQueen99**](https://twitter.com/RedChessQueen99) +Your markets are run by bots. Now your daily threads are too. + +&#x200B; + +This thread is for plans and thoughts prior to the market open period. + +Maybe use this time to read the [wiki](https://www.reddit.com/r/asx_bets/wiki/index/) [.](https://styles.redditmedia.com/t5_2hqqj5/styles/communityIcon_41pmnaqp4zn41.png?width=256&s=59bf38425fb316fdcba30365b272a5f19352f370) + +&#x200B; + +Posts relating to the "Is /r/ASX_bets about finance or effect your mental health?" etc will lead to a ban of the mods chosing. [You have been warned](https://www.reddit.com/r/ASX_Bets/comments/l0l9et/the_does_asx_bets_effect_your_finances_emotions/?utm_medium=android_app&utm_source=share). + +&#x200B; + +[We have an active official/unofficial discord. It's open to all discussions, stonks related and non-stonks related](https://discord.gg/wsNDGTf5QH). +Your markets are run by bots. Now your /r/Asx_bets daily threads are too. + +Read the [wiki](https://www.reddit.com/r/asx_bets/wiki/index/) people[.](https://styles.redditmedia.com/t5_2hqqj5/styles/communityIcon_41pmnaqp4zn41.png?width=256&s=59bf38425fb316fdcba30365b272a5f19352f370) + +[Posts relating to the "Is /r/ASX\_bets about finance or effect your mental health?" etc will lead to a ban of the mods chosing. You have been warned.](https://www.reddit.com/r/ASX_Bets/comments/l0l9et/the_does_asx_bets_effect_your_finances_emotions/?utm_medium=android_app&utm_source=share) + +Automoderator may provide "Guidance" for Lazy and zero effort posting. + +[We have an active official/unofficial discord. It's open to all discussions, stonks related and non-stonks related.](https://discord.gg/wsNDGTf5QH) +I'm a 34 yo senior level IC program manager working at a FAANG. NW is about $1M, including real estate. Living in HCOL market. Not quite as close to FatFIRE as I'd like to be, but on track in the grand scheme. + +I've been with the company for 9 years now, and the next levels are getting a little slower to come by. I'm probably 5-8 years away from any kind of non-linear pay bump (director, etc). Program management IC at my level becomes a bit of a dead-end, but climbing the management chain seems to have a relatively low probability; I'm not in our HQ location, so for every 1 director, and maybe 3 senior leaders, there are 50+ ICs like myself. + +Since this community seems to have a large contingency of FAANG employees with accelerated retirement as a priority, I'm looking for a little guidance in considering some of these options: + +* The infamous FAANG 1 -> FAANG 2 -> FAANG 1 shuffle +* Try to exploit my tenure and move around the company a bit +* Jump down to a mid-cap company and be a bigger fish in a smaller pond +* Take my experience to a well-funded startup +* Some other strategies I haven't considered? + +Can anyone offer some mentorship or anecdotes to guide this decision? +My wife and I are almost 30. We are selling our home and making 175k profit. Planning on continuing to contribute to each of our Roth IRA’s. She’s a stay at home mother and I make about 60k yearly and have a pension plan at work. We have 19k savings and 16k in stocks. We have no debt besides the house we are selling. + +I guess I’m looking for ideas and ways to grow this money I’m making on my house. We are planning to wait until +The housing market drops until we purchase another house. We are planning to stay rent free with my mother in-law for a few months then rent if the market hasn’t dropped. + +If the housing market drops soon should I just try and pay cash for a new house? The idea of being debt free is very appealing to me. +Throwaway account. Like the title said.. + +Im 24 Masters student, my grandmother passed away a month ago and left all of her money to me (roughly £80000). I live in the UK but became estranged with my parents because I came out as gay during my undergrad (family originally from India). My dad called me two weeks ago now to tell me the news. Im confused/sad/angry because I cant go to her funeral but I also dont know what to do with the money. I dont have any debt because I got a scholarship to go to uni and have a part time job to support myself (IT support). + +I have been following the flowchart here since I found out about it two years ago and have £3500 emergency savings. But now I am really confused. Its a lot of money and I didnt earn it. I dont know what to do. +I bought a new car a couple of years ago. I financed it through the dealership. Since then, I have been making my payments on time. Last week, I received an email from my financier that my regularly scheduled payment was canceled. I looked online and much to my surprise I see that my balance is zero and my account has been closed. Checking over my payment history I see a large payment for the balance of my loan that I did not make. I made several attempts to contact my financier but couldn’t get through due to a high volume of calls because of covid....Fast forward two weeks, I receive a check from my financier for a couple hundred bucks for overpayment. Confused, I call customer service again and this time I’m able get through to a representative. I explain the situation and he says “yeah, your account is closed because your vehicle is paid off, we received a check from bank for the balance of the loan and “congratulations your vehicle is paid off. That check we sent was for overpayment of interest.” I explain again that I did not make that payment and have no idea how it was paid. He asked if it was refinanced or if a family member could have paid the balance to which I answered no. He said “well, somebody paid it off, according to our records we mailed you the title yesterday (I confirmed the address with him) and you should be receiving it in 3-7 business days, congratulations”. So my car was paid off and on top of that they sent me money back! WTF is going on, What do I do now? +Hi! + +So, me and my partner are finally starting to take investing seriously. We're still mostly saving and thankfully we are able to currently save a nice chunk of our income. We have agreed that 500€ a month is an amount that currently, and for the foreseeable future, we're able to invest with without compromising anything in our lifestyles, which are pretty simple, and while still saving in regular old savings accounts a decent percentage of our salaries for any eventuality and to have available at any time. + +Seeing that we're in Europe, what would be the best way to invest those 500€ wisely? + +I've been looking at DeGiro ETFs and reading a lot about them, but still am not sure if that is the best place for it, and if it is, how should we divide that monthly amount into several products (or is it not needed?) to optimize that money. + +We're in our early 30's if that matters. +Hi everyone. In the midst of the crazy year that we've had and likely to continue on all fronts, I thought it's apt that we should all remind ourselves how an emergency funds account is important. + +I tore up a ligament in my limbs last week and I'm also ineligible for Medicare for anything. All of the medical bills, gp visits, physio visits, surgeries are going to burn a hole in my pocket about $5k ish.[Edit: My visa doesn't make me eligible for Medicare] + +Luckily, me and my partner have been saving diligently since the last 2 years and would be able to cover these expenses without worrying too much. + +I've been the kid who didn't save and spent everything on shopping and the latest gadgets. I've also been the kid that has YOLOd the fortnightly savings into BRN and other meme stocks. But I can tell you from personal experience this last week that having that liquid fund for emergencies gives me a peace of mind. Priceless. + +So listen up kids, don't fuck it up. Have that 3-6 months of expenses saved up. You never know when you may need it. I certainly didn't. Up until last week, I was carrying on with my life perfectly normally. + +Thanks + +Some of you may have seen the recent hurricane that hit the Texas/Louisiana border. It was a massive storm that completely ruined the city of Lake Charles, LA. My town was going to be ground zero until a couple hours before the storm hit. It veered East and we were spared the complete devastation. + +We evacuated Tuesday because our mayor begged people not to stay behind and risk their life. My company drug it’s feet on whether we would be “allowed” to evacuate. It wasn’t until the judge issued a mandatory evacuation that we weren’t forced by work to stay. + +I woke up today and found out that our town and home were safe and sound. The storm passed around 5 am. I got a call from my boss around 10am asking when I was coming home. Our regional manager is now furious that we are not at work today (5 hours after the storm passed) and that we are abusing this to take a vacation. I told my boss that this was no vacation. Wondering if the house I’ve worked my ass off to have would be ripped to shreds. Wondering if the nursery we have put together for my future son would still look the same. Instead of sympathy from management, the employees were treated like an enemy of the company for trying to keep their family safe. + +I ramble so much about this because I work with people who have to take this treatment. Paycheck comes in, paycheck goes out. They have to endure it. I’m not close to my FI goal, but I know that on the horizon I will be able to walk away from a company that has reduced me to just a production number. + +It is important to keep strong on the journey. I have questioned if it’s possible to be free one day, but now I know that not only is it possible, it’s necessary. +Hey guys, hoping to start a discussion, vent a little, and maybe pick up some advice! + +TL;DR: Does the used car market seem crazy to anyone else? Is there still value to found by buying a used vehicle? + +I have been fortunate during 2020 and while so many lost their jobs I manage to get hired to my dream job. The new pay and benefits have allowed my and my fiance to purchase a house and pad our savings. With two young kids and a new house, we decided it was time to look into upgrading our vehicles, namely buying me a truck. I have been wanting to buy a truck for a while, but I am not after a luxury model; I need a crew cab and a bed, period. I bought my current car, Subaru crosstrek, new and I'm not to keen on going that route again, so I started browsing the listing for used cars. My brain nearly melted after what I saw. + +I live in a rural-ish area and trucks are common and a commodity, but the prices I saw for used trucks nearly killed me. Im talking 10+ year old trucks over 100k mi being sold for 15-20k. Trucks 4-5 years old with 40k being sold for 85-90% the msrp of brand new trucks. My fiance is interested in a Kia Telluride(which is a hot car, so the market is nuts anyway) and the few used ones I see are being sold for full msrp with E:"20-30k" mi on them. + +I've had my car for almost ten years, and I haven't looked at cars until recently, but when did the used market change? I'm fortunate to have the resources to afford a new vehicle and to being buying a truck as a luxury, but im aghast at the state of it all. As in the TLDR, do you guys think there is still value in buying used vehicles? Is it more a game of searching out the diamond in the rough? Does anyone have different experiences in their areas? + +Thanks everyone!! + +Edit: The Telluride I saw had 23k* miles on it!! + +E2: It seems like this is the new way of life in used truck market. I think I'll bide my time and buy the truck I want new. I plan of having it for many years, and if its apparently not going to depreciate, why not. The reason I'm after a truck is our house is on 10 acres in the PNW, and my free time is mostly spent in the woods(though a Subaru crosstrek will fit two guys, packs, and a two quartered whitetails). I was planning on taking a break, but I might fire up the carpentry side hustle again and cash in on the business write off. + +The more I thought about it our market is extra fucked, we have lots of kids with bad credit, new logging or construction jobs, and the iq of gold fish. I imagine they are paying the dealers asking prices and take it in the teeth on the loans. Luckily I have time, patience and good credit, I think I'll wait for a good 0%apr special and buy. + +Thanks all! +I like this sub because I learn a lot from all your experiences. However, sometimes there are threads that do make me wonder about how I manage my money and put me into a dilemma where I start feeling guilty when I look at my expenses and feel like I should allocate more to saving or investing. I wonder if some of you are feeling the same? + +For example, here are some of my expenses that I know I can cut back or could have bought cheaper on and increase my savings significantly but I'm hesitate because I like them: + +My monthly gym membership: £80 + climbing gym: £70 per month +Holidays: I spend quite a lot on good hotels or restaurants and I travel fairly often +An e-bike for £2k (I already own a decent road bike but wanted to upgrade) + +Do you have any expenses you know you can cut back on but choose not to? How does that make you feel? +Alright numbnuts, listen up. People have been talking about the recent loopring transaction and I want to make sure we take a fucking second to think this through 😩👇 + +https://twitter.com/loopringbot/status/1460642004925399049?s=21 + +It’s coming from a wallet that has been previously connected to Daniel Wang the CEO and Founder of Loopring. (See edit at the footer for sauce) + +Yes the amount of coins is very close to the GME free float, but that’s literally just a coincidence, and only because you’re counting in the millions, it’s like $500,000 off. Remember shitheads, in the case of a dividend, it must be distributed to the total outstanding shares which is 76 Million. + +ARE YOU AS DISAPPOINTED AS MY FATHER IS?? WELL BEFORE YOU GO OUT FOR INFINITY CIGARETTES, WHY DON’T YOU HOLD ONTO YOUR FUCKING JIMMIE JOHN FOR A SEC. + +WANT TO KNOW WHAT IS BULLISH ABOUT IT??! + +Because Daniel Wang is moving a portion of his (presumably personal) stake from Layer 1 to Layer 2, onto the LoopRing Exchange. + +Layer 1 is where all the normies exchange Ethereum at a nominal rate of 13 transactions per second. This massive sum of LRC is being moved onto Layer 2 in the LRC Marketplace. Want to know why Daniel would put his massive, heaving wang on Layer 2? Because this exactly where the GME marketplace will theoretically take place. So in order to support such a MASSIVE new partner’s NFT marketplace they need MASSIVE liquidity. Daniel Wang could be using this money to become a Liquidity Provider. From the LRC website: + +> Liquidity providers (LPs) currently earn 0.15% fee from all trades in the pools they provide liquidity to, proportional to their share of that pool. To become an LP, like Uniswap and other AMMs, you simply deposit an equal value of both assets in the pool. Depositing to a pool incurs no fees, and per usual, it’s gas-free too! + + +Okay but why the need for liquidity? You want to know why? + +Remember how Ethereum is able to do 13 transactions per second? Loopring can do ~~400,000~~ 4K-5k transactions per second. To put that into perspective, Visa can only do 1.7k transactions per second and you still have to wait 30 awkward seconds with your hand down your pants while you play with your small wee wee. + +Let me repeat… + +#4k-5k TRANSACTIONS PER FUCKING SECOND, MY DUDES + +4-5k per second requires a lot of liquidity to facilitate when onboarding tens of millions of GameStop Power Up reward members. Speculatively speaking, a launch around Cyber Monday would have high demand and traffic and necessitate the CEO providing personal assets for liquidity. + +Some of this is opinion and speculation so I’m going to label it as such. That said, this has my tits jacked to infinity. As an NFT artist myself, GameStop (with the tech of LoopRing) is going to revolutionize the NFT marketplace. + +🚀🚀✨🚀✨🚀✨🚀✨🚀🚀🚀✨✨🚀🚀🚀✨🚀✨🚀🚀✨🚀✨🚀🚀🚀🚀🚀✨🚀 + +EDIT: I had some questions on how we know the wallet is connected Wang. Thanks to u/YouAreAPyrate for doing the DD, Check out the sending wallet👇 + +“https://etherscan.io/tokentxns?a=0x40a511de41d71a466b229ff9f3ec5444b4c7b6b0 + +Scroll to the bottom, from the activity it looks like a wallet owned by danielwang.eth, or at least one that he's made several very large LRC transfers to.” +**TL;DR:** Solana could literally be replaced with a SQL database at this point; you'd get as much scalability as you want, and there would be no tradeoff in decentralization b/c the chain has none to begin with. **People in crypto don't actually want to get rid of the banks; they just want to be the first to get in on the bank that will give them the biggest yields.** + +It's been said here before, but Solana is a scam: I knew it from the second I heard the CEO of the development company describe the "network switch model" of "doing one thing (high scalability and throughput for dApps) and doing it well". Here's my reasoning: + +I work in the tech industry, and I can show you a ledger that can scale faster and for cheaper than Solana right now. Moreover, it's more stable and you'll have next to no problems using it b/c *the underlying tech has already been in use since the '70s*! + +... It's called a SQL database. It can handle millions of TPS even without complex scaling schemes, and it gets faster as you add more machines to it. You can run pretty much any financial application you want on top of it with no problems b/c, in fact, *all of traditional finance is already built on top of it*. Instead of using a complex language like Solidity or Rust, devs can literally use JavaScript. You can even log into it with your Facebook account! + +The problem is: What I'm describing is 100% centralized. In fact, it's literally the technical foundation for all centralization of data; it's the bookkeeping layer behind the billions and trillions of dollars that the banks and big tech are screwing people out of every day (the *settlement layer*, if you will). + +The point I'm getting at is that: **If you have a ledger that can be rolled back at the discretion of a central group of authorities, then it's literally a glorified database being run by a glorified bank.** If you have no problem with this, then you're in crypto for the wrong reasons; therefore, I suggest it's time to reexamine things. + +**Citing a comment I made from below to clarify (thanks to** u/Halvinz)**:** + +>I'd imagined that any dev reading this would forgo the technical nitty-gritty, as this *is* Reddit. My point is that Solana has a closed validator set, a closed-source protocol, *and* a literal Discord channel where it's openly and explicitly scheduled network shutdowns with validators whenever it became inconvenient to fight D/DoS attacks. +> +>Solana clearly wasn't built in the makings of a blockchain, which is decentralized by definition; my point is that you could build pretty much the exact same UI/UX with a SQL database as a storage backend, and you'd have no loss in uptime or security (if anything, those would be better!) + +&#x200B; +This is **not** my DD, it's from a guy called Tiago Dias. I just wanted to share it given how crazy detailed/in depth it is. This full text is just part 1 as well... + +Part 2: [https://tiagodias.substack.com/p/aflac-incorporated-part-2](https://tiagodias.substack.com/p/aflac-incorporated-part-2) + +Part 3: [https://tiagodias.substack.com/p/aflac-incorporated-part-3](https://tiagodias.substack.com/p/aflac-incorporated-part-3) + +## What is AFLAC? + +As per their 10-K report, AFLAC is: + +***Aflac Incorporated*** *(the Parent Company) was incorporated in 1973 under the laws of the state of Georgia. The Parent Company and its subsidiaries (collectively, the Company) provide financial protection to more than 50 million people worldwide.* ***The Company’s principal business is supplemental health and life insurance products*** *with the goal to provide customers the best value in supplemental insurance products* ***in the United States (U.S.) and Japan.*** *When a policyholder or insured gets sick or hurt, the Company pays cash benefits fairly and promptly for eligible claims. Throughout its 65 year history, the Company’s supplemental insurance policies have given policyholders the opportunity to focus on recovery, not financial stress.* + +In other words, **AFLAC is an American Insurance Company operating primarily in the United States and Japan.** + +Japan in fact provides around 2/3rds of their revenue via their subsidiary AFLAC Japan. + +Their business model involves collecting premiums from their clients, and paying some cash directly to them (or their beneficiaries) if their clients have some health issues or pass away. + +**They make money by paying out less than they collect, as well as by getting some investment returns on the premiums they have collected.** + +This is a boring, simple and easy to understand business model, and as long as they didn’t massively miscalculate how much money they will have to pay out to their customers, there isn’t really a lot that can go wrong. + +In short, AFLAC is the type of business where regular and consistent revenues and profits are made, which is ideal for a long term buy and hold investor. + +## Strengths and Weaknesses + +No company is perfect, and every company has their own strengths and weaknesses. + +AFLAC is no different, and the way they are structured and the markets they participate in make some of those strengths clear, and some of the weaknesses also. + +## Strengths: + +* Insurance is a highly regulated field, which reduces new competition +* Enduring Competitive advantages have allowed it to capture 25% of the Japanese health and life insurance market +* Low payout ratio permits regular dividend increases into the future +* They have demonstrated a long standing commitment to returning capital to shareholders via dividends and share buybacks + +## Weaknesses: + +* High exposure to the Japanese Market and Yen-USD currency fluctuations +* Complex regulatory environment means the company is exposed to political risks and caps potential profits +* Covid and other significant disasters may heavily impact the company +* Stagnating revenue and earnings in the past 10 years + +That last bit maybe be a bit of a sticking point for most investors, after all, few people want to invest in a company that is making less money today than it made 10 year ago. + +Indeed, if your investment objectives require aggressive and continuous growth of revenue and bottom line, then I don’t believe AFLAC is the company for you. + +But for someone who is happy to get a steady and consistent business, at a price that is below what i believe is their fair value, then AFLAC may be the stock for you. + +What do i mean by that? Well, let’s have a look at their numbers… + +## Income Statement + +Let’s see the key numbers over the past 10 years: + +https://preview.redd.it/j4hcouw2q5v61.png?width=1438&format=png&auto=webp&s=739b453f0b286de5e1821084a95102d9a4ae99c4 + +A bit too confusing? Let’s make some charts: + +https://preview.redd.it/a7io7qh4q5v61.png?width=1003&format=png&auto=webp&s=72340fc2e74067b4186a2d5649f7cc4cfe20d2c0 + +So **revenue has been pretty flat**, having peaked in 2012 at around 25 Billion USD. That’s also around the time that the yen had some pretty severe appreciation against the USD: + +&#x200B; + +https://preview.redd.it/m5tcj686q5v61.png?width=925&format=png&auto=webp&s=77d8d5ce9b0ed28910261480ad1c94dae26e5bff + +Given that most of the companies revenues and profits come from Japan, where 2/3rds of its business is made, it’s fairly **safe to say that the exchange rates played a major role in the revenues being flat.** + +That being said, the company has been **consistently profitable throughout,** doubling its net earnings over this 10 year period. + +Another important thing to keep track of, is the interest expense. Companies with high interest expenses are usually heavily leveraged, which isn’t good for long term investment risk adjusted returns. + +In general, low long term debt is a good indication of a company with a durable competitive advantage, and **AFLAC has consistently kept their debt expenditures at around 1% of revenue.** + +Their **margins are also looking very good**. Generally speaking companies with pre-tax profit margins consistently above 20% have some sort of competitive advantage that make them profitable to own as I [discussed this in a previous post](https://tiagodias.substack.com/p/the-search-for-a-durable-competitive). + +The fact that AFLAC has managed to **consistently keep their margins around a very healthy 18.1% is a very good indication** that the company has an above average competitive advantage. + +Let’s have a look at their “Per Share” Metrics: + +https://preview.redd.it/3st7yv48q5v61.png?width=1417&format=png&auto=webp&s=7b75001c48e6e238b9cab61603515d78be234745 + +So their per share earnings have **consistently increasing**, and they have been **buying back shares every year.** + +Buying back shares can be both good and back. It can be a way to transfer wealth to shareholders without it being taxed, or it can be a way for management to financially engineer their way into bonuses or extra compensation. + +In this particular case, I’m not too concerned. The business is stable, and the buybacks look like they are a long standing commitment to returning capital to shareholders in a tax efficient way. + +That being said, we now have 716 192 million shares outstanding, but we started with 473 085 million… What happened in 2018? + +The answer is simple, there was a [2-for-1 stock split in 2018](https://investors.aflac.com/stock/stock-dividend-split-history/default.aspx). Nothing out of the ordinary, it just means their stock became so expensive that the company decided to split it so new investors wouldn’t have to drop $100+ just to get a share. + +This means that someone who bought 1 share in 2010 at $4.92 earnings per share, would effectively be earning $13.34 per share. + +That’s a **CAGR of 10.49%,** not too bad for a company whose revenues and earnings have been stagnant since 2012 due to currency headwinds! + +## Balance Sheet + +Here’s the balance sheet as of December 31st 2020: + +https://preview.redd.it/jc731zcaq5v61.png?width=530&format=png&auto=webp&s=99d2e9f2a532dd1fc41a71d1707dfe7b842c8719 + +There’s a lot to unpack here, but lets keep it simple and look at the key numbers i highlighted. + +https://preview.redd.it/zxbk24ibq5v61.png?width=506&format=png&auto=webp&s=1e1490ca37f6fcda31c78ea9d1a70653bebc6070 + +Here you can see the assets, these are things the company owns and that it can sell for some cash. + +The first thing you’ll notice in the assets is that the vast majority of AFLAC assets are in the section labelled “**Total Investments and Cash**”. Insurance companies are usually required to keep enough cash in either cash, or low risk assets such as government bonds. + +These are low return on investment assets, however they have the benefit of being highly liquid. That is, they can very quickly and very easily be turned into cash on hand without any major loss of value in doing so. + +What this effectively means is that **90% of AFLAC assets are either in cash, or as close to cash as you can get.** + +When you buy AFLAC, you’re not just buying a profitable company, **you’re also buying a pile of cash.** + +How big is that pile? Well, to find that out we need to have a look at the liabilities: + +Here you can see the assets, these are things the company owns and that it can sell for some cash. + +The first thing you’ll notice in the assets is that the vast majority of AFLAC assets are in the section labelled “**Total Investments and Cash**”. Insurance companies are usually required to keep enough cash in either cash, or low risk assets such as government bonds. + +These are low return on investment assets, however they have the benefit of being highly liquid. That is, they can very quickly and very easily be turned into cash on hand without any major loss of value in doing so. + +What this effectively means is that **90% of AFLAC assets are either in cash, or as close to cash as you can get.** + +When you buy AFLAC, you’re not just buying a profitable company, **you’re also buying a pile of cash.** + +How big is that pile? Well, to find that out we need to have a look at the liabilities: + +&#x200B; + +https://preview.redd.it/78tp45deq5v61.png?width=505&format=png&auto=webp&s=6152dff663af7be9d65696cc4dbdc89486fe06e2 + +In **yellow**, you can see the **total policy liabilities**, this is essentially money that the company owes its clients as a result of the policies that it sold. In a way, you can think of this as the cost of the goods (policies) it sold, and higher amounts here, generally indicates more business being made. + +In **light orange**, you can see the **notes payable and lease obligations**. This is essentially the companies long term debt, and you can see that its only a very small amount of all of their liabilities. + +In fact, if you compare it with its net earnings, we can see that **AFLAC can pay off all of its long term debts in only a couple of years** if it really needs to. + +This is a very encouraging sign, because companies with a durable competitive advantage generally don’t need to make use of large amounts of long term debt. + +Finally in **dark orange**, we see the total liabilities, that is, everything that the company owes. + +With this we can now calculate just how big that pile of cash on our balance sheet is really ours, and which part has to be used to pay our debts: + +https://preview.redd.it/ep9071ngq5v61.png?width=434&format=png&auto=webp&s=15a579b50ee56f6d3f1ef81427067de2a102f0f1 + +So **when we buy AFLAC, we’re also buying a pile of 18 Billion US Dollars!** + +When we consider that its market cap right now is 35 Billion dollars, we can see that about **half of the cost of buying AFLAC is effectively refunded immediately!** + +In essence, we’re buying the business, its earning power, and all of its non-cash assets for around 17 Billion dollars! That’s about as much money as the company earns in 3 years! + +Let’s check out the rest of the Shareholders Equity: + +https://preview.redd.it/dkvlz14jq5v61.png?width=511&format=png&auto=webp&s=2942fc99cdb66c8e93e5e084738d65b9375c43c1 + +See that **retained earnings**? That’s how much money the company earned, and that it chose to reinvest in the business. + +The fact that it makes up the bulk of the shareholders equity means the company has been very profitable indeed. + +The **Treasury Stock** might look bad, with a big negative 15 billion number on it, but it’s actually a good thing! That’s 15 billion that was returned directly to the owners! + +Overall the total shareholders equity is 33 Billion, which is very close to its current market cap. This means that **AFLAC is trading very close to its book value.** + +This is usually indicative of a company in distress, after all, if a company is trading close to the cost of its assets… Doesn’t that mean the market isn’t valuing its business at all? + +Let’s have a look at the values over time: + +https://preview.redd.it/kplwsmclq5v61.png?width=476&format=png&auto=webp&s=2c53c76702e55db5e5b5ed35221792c368a2094e + +So the **cash they have on hand has been increasing over time**, which is pretty good. + +https://preview.redd.it/77zzy7omq5v61.png?width=620&format=png&auto=webp&s=e2ab74f854077a31e1750322350db88d6577fccd + +Their **long term debt has been increasing** as well, though its still low enough to be manageable. + +What about their shareholders equity? + +https://preview.redd.it/zeqc3nynq5v61.png?width=620&format=png&auto=webp&s=150451851bfacb278d7960b5664f444c9ed5907c + +Their treasury stock has been decreasing, which means **they have been buying back their own stock regularly.** + +In fact, those regular buybacks seem to have started around 2012, which coincides with that high watermark in revenues. So it looks like they have been distributing those earnings to shareholders. + +https://preview.redd.it/6odhanlpq5v61.png?width=617&format=png&auto=webp&s=ce761c2f70fe4e05acef1783c6f18b9c61417a57 + +Their **retained earnings has been increasing steadily** as well, which means they have been profitable throughout, and have not spent all of their earnings on buybacks or dividends. + +https://preview.redd.it/95j7a5zqq5v61.png?width=617&format=png&auto=webp&s=3c7b8dd43a486c79f76c3aaa5645215ffc622567 + +Accordingly their **shareholders equity has been on the up and up, more than doubling during this past decade.** + +https://preview.redd.it/q306btbsq5v61.png?width=476&format=png&auto=webp&s=3dd315768db0aaa89855753ceb7f1a48bed64d3d + +## What’s with this valuation? + +How can this be? AFLAC is clearly a profitable company, in fact, in the 10 years we’ve seen it hasn’t posted a single loss and its margins have been a steady 18%. + +And yet, the market is valuing it at close to its book value. Hell, a few months ago it was valuing it at below the cash it had in the bank! + +What is up with this? + +Honestly, I don’t know. + +My best guess is that because **AFLAC isn’t a high flying tech stock,** and is heavily dependent on a foreign market whose demographic prospects aren’t the best, most investors simply overlook it. + +Insurance isn’t a sexy industry like self-driving cars, nor is it as profitable as selling 1000$ iPhones, but to me that’s fine. + +I don’t want sexy. I don’t like high flying tech stocks that never turned a profit. + +**All I want is a nice, steady company that regularly pays me an increasing stream of income, and whose prospects I feel are bright.** + +As far as I can see, **AFLAC is such a company**, so now we just need to calculate the point in which the price that we pay for AFLAC is lower than the value AFLAC provides. + +We will do that in the next post, where we will take all of the data here, and make some simple calculations to come up with what I feel is a fair valuation for AFLAC. + +Part 2: [https://tiagodias.substack.com/p/aflac-incorporated-part-2](https://tiagodias.substack.com/p/aflac-incorporated-part-2) + +Part 3: [https://tiagodias.substack.com/p/aflac-incorporated-part-3](https://tiagodias.substack.com/p/aflac-incorporated-part-3) +Google (Or Alphabet inc) is a 1.5T market cap company - But I still see growth ahead of it. Here's my DD. + +We all know what Google’s main business is (Google Search), so here’s a quick breakdown of the alternate revenue sources for Q2 2022: + +Search - $39.6B + +Cloud - $5.8B + +Youtube - $6.9B + +Network - $8.2B + +Other - $6.8B + +&#x200B; + +As you can see, Google search contributes to over half of Google’s revenue, but revenues from Youtube, Network & Cloud are not insignificant either. Google isn’t falling behind the competition either, using nearly $10B on R&D per quarter. Google search has a massive moat, and as more of the world are getting online, I can not see Google’s search revenue declining. On the other hand, Youtube is eating up more streaming viewers from twitch, while Tiktok poses tough competition in the Youtube ‘shorts’ section. I still believe Youtube to be the premium video content platform. Google cloud has a roughly 10% market share in a fast-growing industry, expected to be worth roughly $83B at the end of 2022. Cloud is the third largest player in this sector, behind AWS (33%) and Azure (22%). Google is constantly innovating to keep its market share, and the moat is not eroding. Because of this, I believe Google is a wonderful business trading at a discount due to market conditions - Here is my estimation of Google’s fair value: + +TTM FCF 65.19B + +Assumptions + +3% FCF growth + +8% Discount rate + +2% Terminal growth rate + +10 years of projection + +$184.92 Fair Value + +$116.93 Price + +**38% Discount on Fair Value** + +\*Always do your own calculations of fair value, I am not a financial advisor\* + +While the P/E (21.3) & P/B (6.0) may be high, making Google not a traditional ‘Value’ Investment, I feel it is fair to pay a small premium for a wonderful business, AKA a fair price for a wonderful business, as opposed to a wonderful price for a fair business. + +For me Google is a long-term hold, as the management team has shown their competence, and I have high conviction in the performance of their products, as well as the business as a whole. + +Google is also using cash flow in acquisitions, such as buying Mandiant for $5.4B, a cyber security company, as well as buying FitBit for $2.1B, a smartwatch company to further enhance the google suite of products. Fitbit is the 4th biggest company by market share in the wearables industry. + +Here are the revenue & earnings growth for the last 5 years: + +Revenue: + +2016 – 90.27B + +2017 – 110.85B + +2018 – 136.82B + +2019 – 161.86B + +2020 – 182.53B + +2021 – 257.64B + +5 year Revenue CAGR: **23.7%** + +Earnings Per Share: + +2016 – 1.39 + +2017 – 0.90 + +2018 – 2.19 + +2019 – 2.46 + +2020 – 2.93 + +2021 – 5.61 + +5 Year EPS CAGR: **46.1%** + +&#x200B; + +Google, a 1.54T market cap company, is still growing at 20%+ per year – that is insane. + +**I firmly believe Google to be a wonderful business, with a lot of growth ahead of it.** + +\*This is not financial advice, always do your own research\* + +&#x200B; + +Crosspost From r/HoldForeverInvesting +Looking down the road 10-20 years, where are y’all putting your faith? + +Am I wrong to be freaked out by China re: TSM? + +And as a young lad who likes computers, INTC seems like it getting “pushed out” as compared to other companies. What am I missing? + +Love y’all - cheers for the guidance +I'm going to go ahead and be (at least it looks like) the first to admit I am closing out my positions in Baba and Tencent. + +1)Earlier in the week, I closed out my other China positions realizing that while China is a place where there are a lot of stocks passing my deep value screens, I was only creating more exposure to the same nasty risk. + +As a general investing practice, I buy on super-low multiples and sell when there is a regression to the mean. It has worked for me, an idiot. I am moving these operations into my Roth IRA to not pay taxes on the trades. What I have lacked is super-compounders to hold for my taxable accounts. I do have an appreciation for the beauty of wonderful businesses bought at a fair price. I thought that Baba and Tencent could be that. But still, no reason to hold the small companies. + +2) While I believe that the market's sell-offs of China starting last year might have been overly-pessimistic -- creating price points Munger wanted to buy in to, and ones I was able to get into at a lower cost basis (yay, I thought!) -- I actually do think that Thursday's drop was an example of the market being a good probability weighing mechanism. This game of chicken with the U.S. and China over secondary sanctions has substantially increased the chance of losing 100% of the value of the shares, and so the price should go down. + +It just does not look like it is wise to treat this dip as a buying opportunity. And that in itself is a bad sign, I believe. + +3) Even if we get through this crisis, I am reevaluating whether I'll be able to access the long-term growth of China. History is littered with conflicts of a rising power clashing with the established power, and I can only think of one peaceful transfer -- the U.K. to the U.S. But I feel that the circumstances there are very unique. For one, there was a common language and many cultural affinities. For another, the Brit weren't about to let the Germans take the chips. So the very thing that lead me to want to hold large-cap Chinese companies -- 20, 30, 40 years of compounding -- does not seem reasonable. And if there is a blind spot in what Munger's thinking, it is this. Also, worth noting that he has no reasonable expectation at the moment of 40 more years of compounding, so it doesn't even have to be his horizon. + +And I want to be frank, I think it is more likely that the banning comes from the U.S. side as the political class keeps having temper tantrums rather than accept that they don't control the world anymore. + +4) Investing is comparative, and there plenty of other securities that seem reasonable right now. Foot Locker and Facebook seem like good examples of market over-reactions, but ones that will provide the opportunity to check the balance sheets over time, rather than the risk of one day having their entire value set to zero because of a decision from either the U.S. or Chinese government. + +5) I need to be more selective. I really did just copy Charlie Munger and placed 7% of my portfolio at risk within 2 days. (Edit: I bought in 2 days, so there was no averaging in. I have held longer, to my pain). I really was just being greedy and picturing myself making a big, concentrated bet like one of my financial heroes. But, again, I'm actually an idiot. I think I'm done trying to understand wonderful businesses at a fair price; this is what index funds are for. And yeah, I have some of the vanguard international index, so I do have some Tencent and Alibaba exposure, but it is just cut with other positions and will be re-balanced for me. + +My Roth portfolio will continue to have deep value plays (along with oil and material hedging right now . . . fun), but I am out of this game. + +TL;DR. I'm an idiot and can't really price the businesses. But short term the chances of shares going to $0 have gone up. Long-term, China and U.S. antagonism is near inevitable. Munger won't live for this, and rubs shoulders with elites the major U.S. institutions --so this might be a blind spot for him. +The market's wheels are turning again. +Tokens on the BSC are getting love again. ❤️ + +A project that has been around since April 9 – the very beginning of the BSC coin craze - deserves your attention because in this world it has stood the test of time.👴🏼 + +With a SOLID and organic foundation of over 4.3K holders, and a market cap of just $600K – it would be stupid not to jump into a project that was once 10x its current price. The market battered it but it’s preparing itself for a resurgence unlike any other to pair alongside BNBs upward trajectory. + +Is Charitas a better hodl now than it was a few weeks ago? 🤔 + +- The team is doubling in size every week 👥 + +- Holders are increasing consistently and organically 👯‍♀️ + +- Marketing experts who worked with the worlds biggest brands incl. a SUPER BOWL commercial, added to the team 🏈 🏈 🏈 + +- New partnerships with influencers, athletes, doctors, actors, artists, and philanthropists, are being announced multiple times a week. EVERY week. 🚀 🚀 🚀 + + +- State of the art DApp is nearing completion 🧑‍💻 + +- Advisory board comprising of prominent professionals is being put together 👨‍💼 👩‍💼 + +- Legal entity established 👨‍⚖️ + + +In short Charitas is here to stay. +Charitas is here to grow. Despite price action, despite macro market trends. +Charitas is built for LONGEVITY. + +Best part? +The entry price. +I won't make promises on price targets, but look at what Charitas actually accomplished and what they are building and compare it to other charity coins market caps along with their all-time-highs. + +**If this doesn't excite you, it is because you haven't DYOR on Charitas.** + +**Charitas is THE charity crypto. +Read up what they're all about on their website: [Here](https://charitas.fund)** + + +The Charitas community wants marketing, partnerships with crypto influencers & More, More, More ACTION.. +Well I’ve been in Charitas since DAY 1 and I know why I’m staying with this team and NOW those feelings are extra validated. +Check these connections Charitas made in less than 2 months!: + +-Marco Folino (@runandlift, 1M followers IG) - Medical Doctor, Personal Trainer, Fitness Influencer (Part of Team) +- Rory MacDonald (@romac_gorilla, 200K followers IG, @Rory_MacDonald 250K followers Twitter), MMA Fighter, Past UFC Number 1 Contender +- Stephanie Zito (@selfcarespotlight, 265K followers IG) - Future Clinician, Mental Health Awareness Specialist +- Laurence Fuller (@LaurenceFuller, 30K followers Twitter), Actor, Writer, NFT Artist +- David Bianchi (@DavidBianchi, 5.5K followers Twitter, @davidbianchi_ +- Alex Alpert, Gary Geck and other artists +- Torin Hofmann (Youtube, 41.3K followers) +- The Crypto Room (YouTube, 122k followers) +- UpNextCrypto (217k followers) +- Cryp News TV (43.9k followers) +- Damiano L. (@ChartShark22, 19.9k followers) (Part of Team) +- & many other crypto-related influencers on TikTok and YouTube. +- Feed The Hungry Foundation +- The Adventure Project +- New Earth Foundation +- Global Schoolhouse Initihative +💭 What is $MBUD ? + +$MBUD or MOONBUD is a charity token on the Binance Smart Chain, it has a 5% transaction fee, 2% goes to the charity wallet, 2% is redistributed amongst HODLers and 1% is burned forever, making the token deflationary. Ownership of the contract has been renounced. Liquidity has been locked for a year. + +&#x200B; + +&#x200B; + +🌕 MILESTONES + +The token succesfuly launched a couple of weeks ago on pancake swap. The launch was amazing, price held and rose beautifully and the first day was full of important achievements. Right now the token is aiming for the 7,000 holder barrier, mcap is around $3M. MBUD has already amassed $140,000, prepared for being donated to Dog's Trust, the largest dog charity in the UK. + +&#x200B; + +&#x200B; + +Solidity Finance Audit: + +[https://solidity.finance/audits/Moonbud/](https://solidity.finance/audits/Moonbud/) + +&#x200B; + +Donation Approaching - The Developer will PERSONALLY visit Dog's Trust office and will donate the money from the charity wallet, the whole process will be recorded. + +My Opinion: I made a post about this token before already. Working closely with the dev team the whole time now and I couldn't be more happy about doing this, I see a very bright future for this project. Holding and willing to help a lot of dogs, this is much more than money, this project actually means something. + +&#x200B; + +&#x200B; + +LINKS: + +💎 BUY: [https://v1exchange.pancakeswap.finance/#/swap?outputCurrency=0xbe8183612f145986a41ad8e8fcfefed1c2f9deba](https://v1exchange.pancakeswap.finance/#/swap?outputCurrency=0xbe8183612f145986a41ad8e8fcfefed1c2f9deba) (USE V1) + +🌐 WEBSITE: [https://www.moonbud.space/](https://www.moonbud.space/) +The market's wheels are turning again. +Tokens on the BSC are getting love again. ❤️ + +A project that has been around since April 9 – the very beginning of the BSC coin craze - deserves your attention because in this world it has stood the test of time.👴🏼 + +With a SOLID and organic foundation of over 4.3K holders, and a market cap of just $600K – it would be stupid not to jump into a project that was once 10x its current price. The market battered it but it’s preparing itself for a resurgence unlike any other to pair alongside BNBs upward trajectory. + +Is Charitas a better hodl now than it was a few weeks ago? 🤔 + +- The team is doubling in size every week 👥 + +- Holders are increasing consistently and organically 👯‍♀️ + +- Marketing experts who worked with the worlds biggest brands incl. a SUPER BOWL commercial, added to the team 🏈 🏈 🏈 + +- New partnerships with influencers, athletes, doctors, actors, artists, and philanthropists, are being announced multiple times a week. EVERY week. 🚀 🚀 🚀 + + +- State of the art DApp is nearing completion 🧑‍💻 + +- Advisory board comprising of prominent professionals is being put together 👨‍💼 👩‍💼 + +- Legal entity established 👨‍⚖️ + + +In short Charitas is here to stay. +Charitas is here to grow. Despite price action, despite macro market trends. +Charitas is built for LONGEVITY. + +Best part? +The entry price. +I won't make promises on price targets, but look at what Charitas actually accomplished and what they are building and compare it to other charity coins market caps along with their all-time-highs. + +**If this doesn't excite you, it is because you haven't DYOR on Charitas.** + +**Charitas is THE charity crypto. +Read up what they're all about on their website: [Here](https://charitas.fund)** + + +The Charitas community wants marketing, partnerships with crypto influencers & More, More, More ACTION.. +Well I’ve been in Charitas since DAY 1 and I know why I’m staying with this team and NOW those feelings are extra validated. +Check these connections Charitas made in less than 2 months!: + +-Marco Folino (@runandlift, 1M followers IG) - Medical Doctor, Personal Trainer, Fitness Influencer (Part of Team) +- Rory MacDonald (@romac_gorilla, 200K followers IG, @Rory_MacDonald 250K followers Twitter), MMA Fighter, Past UFC Number 1 Contender +- Stephanie Zito (@selfcarespotlight, 265K followers IG) - Future Clinician, Mental Health Awareness Specialist +- Laurence Fuller (@LaurenceFuller, 30K followers Twitter), Actor, Writer, NFT Artist +- David Bianchi (@DavidBianchi, 5.5K followers Twitter, @davidbianchi_ +- Alex Alpert, Gary Geck and other artists +- Torin Hofmann (Youtube, 41.3K followers) +- The Crypto Room (YouTube, 122k followers) +- UpNextCrypto (217k followers) +- Cryp News TV (43.9k followers) +- Damiano L. (@ChartShark22, 19.9k followers) (Part of Team) +- & many other crypto-related influencers on TikTok and YouTube. +- Feed The Hungry Foundation +- The Adventure Project +- New Earth Foundation +- Global Schoolhouse Initihative +It’s been a while coming that things got to this moment. Most of you don’t really know me, I’m Burn, I’m the other guy who founded. Technically, it’s my name at the top of the sub and I have the keys if I got mad with power. You’re probably thinking “You don’t mod much.”, that’s because I’m the roadie mod. When I do it right, you never know I was there. But this place is something that I love, despite the work that it is. + +&#x200B; + +As my flair says, I recently lost my job, I was there for quite a while and it took me across the country. I met my partner due to where they sent me and now I have a kid, she wants to be an Astronaut (some days, little bunny is another option apparently). I know all mods are unemployed layabouts really on the inside, but now I actually am. When I first learnt about this, I was a bit sad and had to assess things. I had to take a night alone to think about things so I went to a place I can do a little project in and have a beer. I then thought about what I could do and how shit things were to not be making things that matter any more. + +&#x200B; + +Then I looked up from my own work and whining and saw someone I didn’t know working on the lasercutter. I had been at the first meeting to found the workshop, I’d later brought together the real movers by total accident and was on the founding committee to create the place. Later, my life took a bit of a turn, so I didn’t have time and I left. My interest in 3D printing went mainstream and faded for me, leaving me with a few spare bitcoins I had bought to tip a guy with and lessons about fucking up when I tried making my own business while the rest of my life was a mess. + +&#x200B; + +The workshop had gotten the lasercutter after I left the committee and stopped being a member. I had no clue who she was that was working on the lasercutter, but she seemed to be enjoying her project thanks to this place. It suddenly all became clear to me. I helped to create something and then I left. But that place still did great and it got more cool stuff. It was fine after I was gone. + +&#x200B; + +I realized that the last time my life was going a bit in it’s own direction, we ended up with this place that a lot of people have been having a lot of fun with for over a decade. This time, we all had that moment in 2020 and we got /r/ASX_Bets. It’s time to know that it’ll be fine after I am gone. + +&#x200B; + +I have my own plans for where I’m going from here. Those include a business for myself. It will likely fail, but I’ll have a go. If it gets to the point where it might end up involving the ASX and thus is a conflict, I'll give the keys away permanently. BRN on the ASX is already taken by some weirdos unfortunately. I suspect a conspiracy, I did take that free horse those Greeks gave me (ASIC I'm kidding). + +&#x200B; + +For most of you, this change means very little, I’ll still be around, but not really doing day to day modding. Consider this a semi-retirement, do not @ or message me about sub business except in emergencies, it has been said that awakening the old ones makes others go mad. The wording on some announcements might change a bit. The Automod is still doing as it’s told and not going rogue about Bananas, so I’ll be helping keep it in line. I’m still a failed stand-up comedian so the really mean flairs may be me, but other mods do them too, so don’t just blame me. But for me, consider this a ride off into the sunset unless we have some strange catastrophe that I need to come back for. But don't worry, i'll always be in your hearts... + +&#x200B; + +Besides, this is reddit, it's not like it's not hard to make new accounts. Hell, 90% of the mod team could be my alts. This could be an elaborate house of cards built on sand in a fault zone because me “retiring” but remaining in charge was always the plan. Burnanon knows the truth. This sub could actually only have 2 real members talking to each other and they are really all six kids in two trenchcoats. As a man smarter than me once said, “More and more I’m beginning to suspect the entire written content of the internet is being produced by a team of 7 or 8 people.” Are you actually a walrus? Speak into my Umbrella for the real answers. + +&#x200B; + +**NEW MOD** + +&#x200B; + +Now, I’m not a total prick to the existing mods (mostly), so I decided to bring in a new mod to take my place. I looked around the regular posters and who could bring the gravitas. The depth and the detail to replace me? Clearly /u/Plucky26 was the one. When Plucky went off their meds almost a year ago, they got banned for a few weeks but came back strong. They also were banned due to a legit bet over the summer, but it’s good to have them back. + +&#x200B; + +And now /u/Plucky26, clearly the most deserving, will ascend into Modhalla. All shiny and Chrome. + +&#x200B; + +I see no negative implications of this whatsoever. + +&#x200B; + +\-Burn +TLDR: Consistently executing a strategy works; goalposts move; freedom is awesome. + +I recently got a notification that I've been a Redditor for 4 yrs, so I decided to take a walk down memory lane by looking at past posts with an eye on how our NW and perspective shifted over time. + +Four years ago, we had a NW of $5M and a liquid NW of $3.8M. We were making $650k combined and spending $260k. Additionally, we were working for companies that had liquid public equity that gave us $500k / yr. Clearly we were spending quite a bit, but we were also saving a lot. + +Today, we have a NW of $12M and a liquid NW of $7.5M. That savings / investing from the high-income and investment gains resulted in a 100% increase in liquid NW. On the illiquid side, most of it is home appreciation which has been insane. Additionally, we have three private company investments with completely unknown value and liquidity timing. I put them in the NW calculation at my buy-in price with no upside, but the underlying companies all continue to grow nicely. + +The overall growth was pretty consistent and a result of contributions and investment returns. + +* 2018 - NW $5.3M +* 2019 - NW $6.9M +* 2020 - NW $8.4M +* 2021 - NW \~$10M +* 2022 - NW $12M + +On the income and expenses side, little has changed. We continue to work and are basically pulling in the same cash as we were 4 yrs ago, but no equity payouts. Our expenses are actually down a fair bit. We refinanced our house, so that cut our payment and shortened our mortgage. Our kids are also out of preschool, so that significant expense disappeared. I estimate we're spending at least 10% less, but we don't track it very closely. + +When you put this all together, we are well past FI, but not too much has changed. We're spending $240k / yr on a $7.5M liquid portfolio (3.2% WR). Despite that, we continue to both work, and plan on doing so for the next several years. About a year ago, I exercised the right to step away from a job that wasn't going the way I wanted even though I didn't have anything lined up. That's something I would never have done without the financial cushion. We're also evaluating shifting the goalposts with our never-ending search for a vacation home. + +Either way, looking back, we've benefitted from being diligent in sticking with a 25%+ savings / investing rate for over 20 years. We never planned on the NW we achieved, but we just kept doing the right things in our careers and our investments to put us into fatFIRE territory. Astonishingly, if we just stay on our current path, I wouldn't be surprised if we hit $25M and beyond. + +If I sell my house for $200,000 profit and then invest in ETH now and it goes to $8,000 when I cash out, I would have $1.6 million. After taxes I’d have about 1.2M + +Please remind me why this is a bad idea. Especially since the first Fibonacci retracement is $8K. + +Of course we know the deal wouldn’t happen fast enough. But assume it did. If we are sure Ethereum and Bitcoin are down for at least another bull run, why wouldn’t this be a good choice? It seems like everyone is sure they will rally. The question is just when, and if I’m willing to wait, then why not? + +Edit: +Corrections cause math is hard. +Question still stands. +I have posted before on Online Portfolio Selection, which is my favorite trading family of strategies. +I use, in real trading, much more sophisticated metrics (with much better results, like 2x easily per year) but with a very similar general trading philosophy as in the following interesting and pedagogical exercise. +OLPS rely on a predictive measure of performance to dynamically select weights for the next trading period for each asset in the portfolio. Some OLPS use a mean return and other a trend following approach. The weights are proportional to the predictive measure and they are updated at each iteration. +In this exercise, I wanted to see if the simplest possible predictive measure could work. What could be the simplest possible predictive measure? Of course, the price change today = the price change tomorrow. +I took the stocks in NASDAQ 100 and then sorted the stocks in terms of their price ratio (the price of the stock today vs yesterday). Then I used both a mean return and momentum following strategy. Instead of weights, I selected the best performing and worst performing stock according to this simple-minded metric. +By themselves, each of these strategies does not work very well (try it). +But then you can optimize (using the walk-forward optimization) between the two strategies (mean return and momentum). Basically test continuously on short time scales which one is doing better (mean return or momentum following) in recent market conditions and select the stock from the best performing strategy in that testing interval. +Such a simple and almost parameterless strategy gives surprisingly good results: a cool 5x in about 3 years, which is much better than most ETFs. +Not necessarily the best algo trading in the world but a decent Sharpe and gains and an exercise to demonstrate how a simple, robust approach can give a strong performance that outperforms easily the market (the fully market efficiency theory is clearly wrong in short time scales). Try this exercise yourself and I think you will gain a lot of intuition. Let me know if you need help in setting up the algo. + + +https://preview.redd.it/42buyyzgy0u61.png?width=1151&format=png&auto=webp&s=eae38a71edd378699e4cbff0481583bd8a133657 +Let's say QQQ goes from 100 to 65 in one day. That's a 35% drop. TQQQ, which multiplies QQQ's daily changes by 3, would have to drop by 105%, which would bring TQQQ to 0. Is that right, or am I missing something? +Is a bit of a weird question, but I'm wondering if people already have an idea of what they want to do once they're "done" investing. To my understanding the core principle behind every "set and forget" strategy is that you get to retire with a decent amount of money, which sounds good, but then what? + +Recently I've talked with a colleague who's just a few years before retiring and has amassed something like three quarters of a million dollers over their years, which if they keep living with their current standards, will likely be more than they will spend the rest of their life. + +Do people already have ideas of what to do with their investments? Other then having my children inherit it some day, I've got no idea either. +We have a 270k home, with 168k mortgage with 30 year 9 months remaining at a 1.6% fix for another 18 months - it ends in May 2024. This costs us about £580/mo + +We can currently get by on a frugal lifestyle, we have maybe £400 spare cash a month, with 10k rainy day cash and about 5k in a S&S ISA. My wife is not working as childcare costs more than her income as a teacher - this will be a marginally better calculation once both our 2 kids are over 3 - we think she'll be able to bring in about £2-300/mo net after nursery costs (!!!) - still not enough to cover the predicted mortgage costs at a 5-6% rate. + +Now this all looks quite bleak when the fixed mortgage ends. Even if I overpay 400 for the next 18 months, and drop the whole of our 15k savings into our house, it makes next to naff all difference to the monthly payments - where we're still going to be short or at least very tight month-to-month. + +Aside from selling up and downsizing - what should we be doing with this last bit of cheap living before the new rates throw our finances in the bin? + +&#x200B; + +EDIT: The thread's been locked, but I wanted to say thanks for all the advice and thoughts. I'm less stressed but also have a plan = 400/mo into an easy access 3% account with my bank HSBC. Then I'll come back to the mortgage question next year. + +As a teacher, my wife can start looking for work in the spring for next academic year, and we're going to investigate childminders in our area in the next months. If we can sort the childcare question, I think we might actually come out of this in a years time with even better finances despite the additional longer-term mortgage costs, otherwise its 'only' 3 years to weather til school takes over that burden. Thanks again + + +The experience of purchasing an NFT right now is a pain in the ass. You need to set up a crypto wallet and get funds in it. You then need a way for your wallet to connect to the site to purchase your NFT. For that you get an extension called a metamask... yet another thing you need to set up. After you have done all those things you go to purchase the NFT and boom you get hit with a gas fee (think of gas as what you have to pay you get your transaction written to the blockchain) that is 5x more expensive than the $50 NFT you are trying to purchase... you say FUCK IT and give up. + +There are so many barriers to entry. + +Barrier 1: setting up a crypto wallet is a bitch, apparently gamestop found a way around this I am guessing directly through their mobile app which I assume will act as the wallet itself... so boom you don't have to set up a crypto wallet...you just have one. This is my understanding of counterfactual wallets. + +Barrier 2: Metamask... I assume this will be built into the app as well so you don't need to set that up + +Barrier 3: High Gas fees...Loopring created a zk rollup protocol that bundles a bunch of transactions together, does some nerd magic and spits them all out of layer 2 back to layer 1 and your transaction is officially on the blockchain bundled with potentially thousands of others that spreads that insane gas fee across thousands of transactions to make it basically free. + +So if this assumption is true... Gamestop will be the first Web 3.0 launch of a major company.... and they will have solved the barrier to entry problem and have instantaneously let loose millions of powerups rewards members on the metaverse the way it should be before Zuckerberg's bitch ass ever saw it coming. + +&#x200B; + +Game Fucking Over. + +&#x200B; + +Buckle Up. +In 2010, I decided to buy myself hair clippers. I bought it for £24.00. + +Still going strong and I saved around £15.00 per month on barber fees. + +So saved almost £2000.00 (excluding fuel cost driving to the barbers ) over the past 12 years. + + +What have you bought that save you money? + +I would like to know and to see if I can copy any relevant ideas. + + +Thank you. +Thoughts? + + + +>*Wall Street banks are warning investors to brace themselves for a new wave of declines in global markets after stocks rushed back towards a bull market from the ugly falls driven by coronavirus in March.* +> +>*The US benchmark S&P 500 index had jumped 2 per cent by lunchtime yesterday, placing it 20 per cent above the nadir of March 23 in a bounceback almost as intense as the sell-off it followed. But many strategists warn that while central banks and governments have taken the sting out of market disruption with their interventions, more disruption may lie ahead.* +> +>*“My concern is this relief rally might not be sustainable,” said Mislav Matejka, global equity strategist at JPMorgan.* +> +>*Goldman Sachs and Citigroup have also urged caution, particularly as companies absorb the scale of the shock from the pandemic. “Equity markets may need to fall 50 per cent before they have priced in this year’s likely earnings drop,” Robert Buckland, head of equity strategy at Citi, said.* +> +>*Goldman Sachs’ strategists said this week that equities were already pricing in a recovery in economic growth, even as the extent of the corporate shock remains unclear. “This increases the risk of disappointment near-term,” the bank added.* +> +>*The rebound since late March has coincided with signs that the virus might have peaked in some of the worst-hit countries, raising hopes that lock-downs that have hit economies from the US to India could soon be lifted.* +> +>*But the economic damage has already been done. Yesterday new forecasts showed the German and French economies in the grip of recession.* +> +>*Salman Baig, multi-asset investment manager at Swiss fund Unigestion, believes the bounce is a “bear market rally” and sees a “decent chance” of stocks falling back to last month’s lows.* +> +>*“In a couple of weeks we get corporate earnings season, and investors will get to see just how bad it will be,” he said.* +> +>*Some, however, are betting that the worst is over. “You should have a buy-the-dip mentality now,” said Michael Wilson, chief US equity strategist at Morgan Stanley, arguing that a recession forged out of a public health crisis has led government and central banks to react on an unprecedented scale.* +> +>*“The virus has already created the recovery through the stimulus: it is a timing question now,” he said.* +> +>*Some billionaire investors have also spotted a buying opportunity. Oaktree Capital Management’s Howard Marks, a market veteran, revealed in his latest memo to clients that the investment group he founded had also started to dip back into the market, despite the risk of further declines.* +> +>*“It’s not easy to buy when the news is terrible, prices are collapsing and it’s impossible to have an idea where the bottom lies. But doing so should be the investor’s greatest aspiration,” he said.* + +**Source:** [https://www.ft.com/content/0e9656b7-3693-46d7-b46f-d065e1550e6d](https://www.ft.com/content/0e9656b7-3693-46d7-b46f-d065e1550e6d) +I think the above described rule hurts this forum, as unlike things are grouped in the daily threads, leading to epic length daily threads with all sorts of unrelated content jostled together, and discourages multi-day discussion on a particular topic (say, for example, a nuanced discussion on how to determine equity/bond allocation of an investment portfolio). Compared to r/fatfire, r/leanfire or r/investing, this forum seems flat and undersized and I think the above rule is a primary cause. + +Edit: This this thread disappeared after about 35 minutes and 20 comments this morning, I'm assuming due to complaints and auto-moderation. It just opened up again this afternoon, presumably due to a manual release by one of the moderators. So kudos to you phantom moderator for allowing free discussion. +The timing of this latest options push seems hugely suspect to me. DRS is going swimmingly and recent price action, specifically the weakness of short counter attacks, suggests to me that DRS is starting to exert a material impact on the saga. + +We’re all independent investors making our own financial decisions. For me the choice is clear. Continue to use my resources to buy real shares directly through CS and choke these bastards out day by day. Why on earth would I roll the dice at the casino and hope that the manipulators on the other side of the trade suddenly act ethically and hedge the options they sell me? After everything I’ve seen over the last year? After the blatant crime and corruption? + +Nah, thanks but no thanks. The DRS way might move more slowly than the options way but the DRS way is guaranteed. It’s the story of the tortoise and the hare. + +And the Moass thesis isn’t predicated on a gamma squeeze. It’s predicated on the criminals on the other side of this trade having sold us a massive amount of shares that don’t exist that they will be forced to buy back at some future date. We’ve cracked the code with direct registering all shares outstanding to force their hands into buying back those phantom shares. +After hearing many many bears saying that various levels would likely provide resistance to the rally, after considering myself to sell a portion of my portfolio after the rally went beyond 2,900, the S&P 500 is now positive for the year, even excluding dividends. + +A 5% rally from here would take it to all time highs. + +EDIT: This is only PRICE return, total return would also include the almost 1% in dividends received/accrued for 2020. +There is a lot of financial advice about how to increase your income, how to make your spending more efficient, how to invest, how to mitigate taxes, etc. But it seems most bloggers and even most forum discussions underplay probably the most important step of all - finding a partner who is: + +- intelligent +- financially responsible +- has similar spending/saving goals to you +- is willing to communicate about finances +- can learn from you about things that you're good at +- can teach you things that he or she is good at + +If you think of life as a game, improving your own investing acumen might be +30% skill points...but finding a great partner would be +100% skill points. + +This is not to say - I shouldn't have to even mention this but I will anyway because it's reddit - that you should marry for money, or that financial intelligence is more important than love, empathy, etc. Simply that all things being equal (e.g. you can pick from partners who are all decently attractive, nice people with compatibilities), the importance of financial compatibility is often underplayed. + +Agree/disagree? +I just signed into my WF online banking account to pay off part of my credit card, and saw that the 401k account I never touch has been totally drained through a 'distribution'. It doesn't even say what date this happened, or what method was used. + +&#x200B; + +I've been passed around three departments on the phone and have had someone stop talking mid-sentence to chew their food, nobody seems terrible alarmed or concerned, and nobody can give me any 401k account information until Monday. + + +This seems insane to me. Has anyone else experienced anything like this? Anyone have advice on wtf I can do right now? +There is a new type of ponzi scheme growing, and it's being promoted in this sub as a legitimate investment opportunity. And it has been giving me big 2017 bitconnnecccct vibes, so I wanted to warn all the newbies. + +These types of scamcoins are all over the sub right now. + +"Farming" and "Deflationary Tokens" can be indicators that the cryptocurrency you are buying is a scamcoin built to make developers (or at best, early adopters) lots of coin -- and to be promptly dumped on unsuspecting investors. + +Some examples: +Cobalt.finance +Goodboi.finance +Wynaut.finance ( Meowth and Wynaut) <- Being shilled right now, in this sub. +Shrimp.capital <- Being shilled right now, in this sub. +Hoge. + +There are heaps of examples of projects like these, and they all rely on the same model. + +First, The developer creates a smart contract which either: + +A) Burns 2-10% per transaction. + +B) Steals 2-10% per transaction and gives it to "stakers". + +C) Allows you to lock (stake) your newly purchased token to farm more of the token, or another shitty token. + +Fun fact: there are generators for these smart contracts avaliable on the internet for $100. + +Secondly, The developer puts the all the tokens and 1BNB in Pancakeswap or Uniswap, and burns the Liquidity Provider tokens. This is done to convince users that they cannot be "Rugged" by a developer removing the BNB from Pancakeswap -- rendering the tokens worthless. + +Thirdly, the developer announces the release of his token. Not before putting in a big buy order on Pancakeswap, gobbling up a large chunk of the supply and promptly dumping it on everyone who purchases after him -- who ignorantly think that because the LP token was burned, they can't get "rugged". + +If the coin you're thinking of investing in, fits this criteria, it's probably a pump and dump shitcoin. + +https://tokensniffer.com/tokens/scam maintains a list of known rugs and scams, but often once it's on this list -- it's too late. + +Nobody in a year is going to remember yet another "deflationary" coin that has 0 usecase. Goodboi will not be the next Dogecoin. + +Anyone shilling these coins has big bags and is just trying to dump them on you, and is complicit in perpetuating the scam. + +That is all. I'll try to get you guys some good gems in coming days btw. +Not sure how many people are aware of [MFUtility](https://www.mfuindia.com/InvestorFAQ) and what the advantages are, so thought I'd write a mini-article about it. + +Disclaimer: _no affiliation with anybody in the ecosystem, just a private investor._ + +# What's the big deal, anyway? + +MFUtility is a direct subsidiary of AMFI (Association for MF in India). It thus holds a unique place in the MF ecosystem -- it can + +* act like a RTA, able to pull from/push to the other RTAs (CAMS, KFinTech, FTAMIL) +* act as an execution platform +* act as a client-facing platform + +None of any other competitors have all of the privileges, so can only do one or more parts of the puzzle. Let's discuss what the advantages provided. If you're not sure about the above points, see the key concepts section below. + +# Advantages + +## Almost all AMCs are supported + +Although this isn't a major selling point nowadays as most execution platforms have caught up, MFUtility supports most of the AMCs you might want to invest in. A few years ago when Franklin didn't work with most platforms, MFUtility had it on-board for everything (_nowadays Franklin may not be so attractive for investors, though_). + +## Unmatched visibility and processing + +Due to it supporting everything, you have unmatched transaction visibility and options for processing. You must be aware that you only get the NAV when the money reaches the AMC for investments above 2 lakh; SEBI has recently [released a circular that this will be applicable for all investments](https://www.sebi.gov.in/legal/circulars/sep-2020/circular-on-mutual-funds_47574.html) from Jan 1, 2021. A sample log available from MFU is shown below. + +https://imgur.com/a/7e6IB4W + +You can pay MFU in various ways; the easiest way to ensure that it reaches MFU on time is using NEFT/RTGS. If you know the timings on which your bank processes NEFT (generally every 30 minutes), you can make sure it reaches them before the 12/1pm cut-off. They have a tie up with banks which allows you to transfer money to a "virtual" account number which contains your CAN -- and it shows up in the trace shown above within a few minutes. They also support mandate registration and netbanking, if you want. + +## Automatic sync of transactions + +Due to its nature, the current portfolio gets updated automatically based on the PAN. **No one else** can offer that, all they can do is trigger a CAS and upload it. RTA applications (myCAMS / KFinKart) have similiar privileges, but only for investments with the given RTA. All other clients platforms are only pushed updates if their ARN/RIA number is associated with the folio at the time of creation; further transactions do not affect this status. They have to talk to the execution platform and compute the net units, which requires reconciliation and hence can be error-prone when the platform is young. + +## Single window updation of details + +Other than address details (which have to be updated at the KRA level), everything about your investments just needs to be updated in MFUtility and it will sync to every AMC/folio. Changing the email and phone number is an online process, while changing the bank details requires you to submit a form physically but it gets updated everywhere. + +## Redemptions, Redemptions, Redemptions + +Due to the RTA-like nature, at the time of redemption you can override the bank account in which you want the proceeds to be credited. This is huge, and **I recommend everyone to create an account just for this reason**. Over a period of time, everything may change and this proves invaluable. A relative of mine had investments in Franklin which were + +* having an email address associated with a company they were no longer employed with; +* phone number was that of the distributor, not their mobile; +* address was the same office mentioned above; +* bank account was with salary account above, which was defunct. + +They had forgotten about this investment -- after I asked them to sign up to MFUtility, they discovered it. Franklin couldn't help, as none of the details matched -- would've required multiple physical visits. As the latest bank account details were updated in MFU, they redeemed the amount to that account. As the folio was not coming up in the CAS, a ticket in MFU ensured that they did pushed it manually and everything was synced & the CAS reflected these details (required for Capital Gains for CA). + +## Granular control of Folios + +You can have as many folios as you want, and can even choose to create new folios at the time of investment. This is useful when you follow a folio-per-financial-year strategy, as you can choose to do tax-loss/tax-gain harvesting as per your convenience. As the FIFO principle is followed when redeeming and India doesn't have any wash sale rules, this allows you to do fine-grained optimisation which may not be as easy to implement with other platforms. + +## Multiple holding patterns + +A single login in MFU can have access to multiple CANs (e.g. I have me, me + spouse, me as guardian of child) and all of them work the same way. My spouse has a separate CAN and can see their as well as joint folios. While this is not as convenient as the features offered by other portals (which allow managing extended family portfolios), it's good enough for my requirements. + +## Loads of features + +Read up about CaST, CaRT and CaST Triggers -- they offer a lot of flexibility. As an example, I never have any SIPs set up -- depending on the amount of money available after paying off credit cards, I decide to invest an X amount and do a weekly CaST for X/4 or X/5 (depending on the weeks in month), which gives slightly better averaging than a single monthly SIP. I can also tweak the proportion of investments, and it just requires setting up a transaction once per month (I have PayEzzz mandate setup; if not they will email you a reminder/payment link for netbanking). + +## Will probably survive + +MFUtility has been in operation for 5 years and is likely to be around for the future, which is not something you can say for the other client-facing platforms. They also have a revenue model which makes sense: the AMCs pay them for providing the services (_they started out as a backend for distributors_), so unless there's a huge shakeup it's likely to continue. That's not the case for the competitors who don't charge any fees, where is revenue going to come from? They will pivot and try other avenues to raise revenues, reducing focus on their core MF product (witness the threads complaining about a few promiment competitors in the last few days). + +# What's the catch? + +## Extremely old-fashioned UI + +The UI is very old-fashioned and has a lot of options -- if you want a smooth flow and very good UI/UX, you won't get it. While some people on this sub absolutely hate it, I consider the advantages and accept it as a cost of using it. You may feel different, but for god's sake at least open an account for the redemption and single window details updation! + +## Transactions-only, no reporting + +There is absolutely no reporting available. It doesn't show you returns/details on any fund; you are expected to do your research and choose the exact fund you want to invest in. Neither does it show you the cost basis and your P&L or invested XIRR -- you're supposed to do that on your own. + +While this may be another major negative for people, I personally find it an advantage. It is common wisdom that you shouldn't look at returns daily but invest and forget -- but most other client platforms exclusively show that every time you login. The temptation to check out some other recommended fund is just too much. I specifically [choose to increase the friction](https://behaviouralinvestment.com/2020/09/03/a-little-bit-of-friction-can-make-us-better-long-term-investors/) in computing my returns -- it's a quarterly/half-yearly activity where I choose to review and decide to rebalance my asset allocation/choice of funds. That said, not everybody may _want_ this friction and if so, MFUtility is not for you. + +## PSU-like service + +While glitches are infrequent, they can happen. Their service won't be up-to-the-mark like you can expect from the client-facing portals, but is mitigated by a few factors: + +* you have unmatched visibility, so you don't need to reach out as often +* any interaction with the AMC (which they forward to) happens at L2 or L3 level, instead of L1 you would get via normal channels. So it may take a bit longer, but in case of complex cases it won't take as long as it would via normal channels. + +## Default distributor orientation + +MFUtility was originally built for distributors/RIAs, and that orientation shows up in various ways. If you have ever invested via a distributor/RIA, it may include those values "to help you" when creating new orders. This may lead to only regular plans being shown on the next screen for scheme selection. Always make sure to change the default preferences -- you can access them by clicking the gear icon on the top. + +# Key Concepts + +* AMC (Asset Management Company): Fund House you're investing with +* RTA (Registrar & Transfer Agent): Handles all bookkeeping for an AMC +* KRA (KYC Registration Agency): Stores KYC information; shared with AMC on first investment +* ARN (Application Ref Number): Unique code identifying a distributor/advisor (_mostly for regular funds_) +* RIA (Registered Inv Advisor): Code for RIAs/direct-only platforms +* Execution Platform: takes orders/payments on behalf of investors/distributors and forwards to RTA/AMC +* Client Platform: takes orders/shows folio from actual investors. +The fact that you have to pay a percentage of a property's value every time you transact is absolute bs. + +First, let's disperse the convenient lie of state governments that stamp duty exists to cover "administrative costs with buying and selling a property". How does buying a property cause hundreds of thousands of dollars in admin costs to the government and why doesn't the rate stay the same? I.e. is there significantly more paperwork for a $8mil house vs a $500k house? No there is not. + +Secondly, why isn't there a cap on the number of times this duty is charged to an individual? i.e. if I want to move 5 houses a year, why in the flying f do I have to pay the stamp duty 5 times?? + +This is a cash grab by the unscrupulous state governments, absolutely shameless in their nature which only worsen housing affordability and allow the councils to waste money on meaningless endeavours in order to justify their own jobs. + +For all the people saying "how will the state government cover their revenue shortfall" well looks like they simply won't be getting that revenue anymore or they will have to learn how to spend smarter or cut down on services. + +Over the ditch in NZ, there is no such rules whilst the market there is almost identical. +I was driving down the road today and checked GME AH to see the price had hit $200. I quickly pulled off the road and came to see what was being said here. + +After quickly reading the filing I had a complete meltdown and sobbed. + +I’ve worked hard my entire life and have lost everything multiple times. Each of those times was no fault of my own, lost the small portfolio my grandma left me during the dotcom collapse that was my college fund, lost my home in 2008 despite the fact I put 20 percent down and wasn’t sub prime, then illness in my family and lawsuits have sucked me dry. I’m only 38 years old but have experienced multiple once in a lifetime catastrophes. + +I’m living alone in a tiny apartment. I’ve sold my house, my cars, and pretty much everything else to keep my guys employed and acquire more shares. I haven’t made a dollar of actual profit in over a year. I recently had to lay off all my employees as a result of the company I own taking massive losses due to the pandemic and my expenses skyrocketing. I have yet to sell a single share. + +I’m so scared right now. I’m afraid this is going to be taken from me too. I honestly don’t know if I can sell when the time comes. + +I’m so proud of everyone here. We could have easily said oh well and sold at a loss. We could have chased the “next big thing” but we didn’t. We held to our convictions and said enough is enough. + +We know the battle isn’t over. We know fuckery is coming. But we also know everyone that’s still here is buying, holding, and DRSing our GME until we see phone numbers. + +After so many losses and hardships today felt like a real win. The crew at GameStop is on our side. We didn’t give up on them and they won’t give up on us. + +I know not many will read this but those who do, I love you and thank you for standing by my side to bring down the corruption that’s taken everything from me. + +Obligatory NFA. Obligatory buy, hold, drs and once again VOTE!!!!! +I owe about 155k or so on a rental property that I currently charge about $2700 a month. Have just under 10 years left on the loan until it’s paid off. I’m just wondering if it makes sense to sell a stock that I’ve made significant gains on (~120k), to pay down the loan and get it paid off quicker. It’ll take a few years (maybe 4-5) to make back what I put down..obviously I would be increasing the rent over time as well. + +Would this make sense, or should I just leave it as is and do something else with the stock gains. + +Edit: I’m mid 40’s, current rate on rental is 3.625%...I appreciate all the comments and feedback. The more I’m reading the more it doesn’t make sense to pay down/off the loan. I’m considering taking out a Heloc on the property and purchasing another rental as well. + +Edit pt2: the stock in question is a FAANG stock, I’m currently up about 150% on it overall. The home was purchased in 09 for 328k, refi’d a few years ago to a 15yr, its now down to 155k or so with just under 10 years to go. Currently homes are going for just under 600k in the area (SoCal). I know that I would take a hit on capital gains (long term). I don’t know what to do..leaning towards just doing the Heloc and buying another property. +I’m 22 & I have a 17$ hour job working 12 hour shifts every 3 days or so . My take home is 540$ a week & I do not have any bills at all. + +I do have to get my ged in 6 months or else they may fire me from the job, which I’m worried about but yeah . Other than that what tips would you guys give me ? +They offer 401k & the company is expanding immensely so I would like to get into that but not sure how to go about it . +Have any of you experienced losing your wealth and falling out of fatFIRE whether it be over leveraged, health/medical expenses, family issues (divorce), failed business ventures, etc. And if so, were you able to recover? +Are you not seeing what’s happening right now? Volume drier than the Sahara desert and out of nowhere, big fucking ladder attack. 68,500 share mega red dildo minute candles coming in when the volume has been, on average less than 10,000 a minute for fucking weeks. Get your act together. + +I did have faith in you Gary but you’ve been on the job like 100 weeks now and not a single thing has changed. Not a single fucking thing. Take your blinders off and do your fucking job. What an embarrassment of a financial system, better yet, what an embarrassment of a fucking country. Seriously. What a shit show of a world we live in, government officials are half-dead pensioners making decisions for the younger generations telling us how to live. It’s a disgrace and I hope you’re proud of yourself for being a part of it. + +I for one know I couldn’t sleep at night if I was in your shoes, not because I’m scared of the billionaire society, but because I’m an absolute failure and an embarrassment to the very people I’m employed to ‘protect’. + +Update: one of the mods have commented stating that this post is getting reported. If you don’t like it just downvote it, don’t waste the mods’ time. I’m not telling people to sell, or spreading FUD in any way. I’m holding even harder as I’m frustrated at the system and if you interpret this post as FUD and an attempt to get people to sell then you’re as strong minded as a paper hand yourself. + +That’s all from me folks. +With inflation rising globally and interest rates at all time lows, why are people so confident the housing market will withstand significant rises in interest rates? These seem almost certainly on the horizon and no-one is panicking? + +If you’re in the school of thought that the recent jump in inflation is just the start of what’s to come, significant rate rises are inevitable. + +I know plenty of people are concerned that the potential rate rises, tied with the almost universal understanding that the housing market is in a bubble (and has been for a very long time), will precipitate in a housing crash. But I honestly see more people labelling these people as wackos/doomsday preppers. +I know some developers and real estate agents do their own properties from start to finish. Although I talked to a couple and they prefer just to do their business? I am just curious if I had the skills and patience to learn constructions or take my real estate exam, I think I would be all over doing every single property to maximize my income. Just wanted to know your thoughts. +ArmadaBay, a fully fledged all in one ICO Launchpad (with built in anti-rugpull screening), exchange and a community platform: in development for a 2021 Q3 Launch. 📱 + +Holders, will be able to view the price of Armada and will also be able to keep up with any latest news. We’ll give daily notifications to our holders for our daily tasks such as a blockfollio upvote or a Reddit upvote! 💰 + +(16% slippage) +12% buy back +2% marketing +2% redistribution + +We’re already listed on stocktwitz, coin hunt, coin sniper. We are applying to CMC and various other crypto sites! 💎 + +Check out our Armada Referral Bot (pinned in our telegram chat). Invite anyone, anyone who joins using your link, you will get 100million Armada Tokens valued $, the more you invite the more you earn! 💯 + +Website: we are doxed in the Whitepaper👤 + +Armada Token is setting a course to be the next HUGE crypto project + +We have a variety of language chats and our main, English chat. Come check out the Doxed dev team behind the project!✅ + +Armada is an upcoming token with a proper use case - we have an app in development and are making our own launchpad 🚀 + + We will have an upcoming presale for our token, first of August! + +If you like the sound of this, please join our Chat!⛵ + +The contract is in the works and will revolve around a BuyBack feature that will help to maintain Armada's stability in rough seas. The website is nearing final development and will be live shortly. Social Media Accounts have been set up on Instagram and Twitter. If you have any experience with using other social platforms, let us know.📱📱📱 + + +Telegram: https://t.me/ArmadaToken + +Website: https://armadacrypto.com/ + +Whitepaper: https://armadacrypto.com/armadawhitepaper + +Twitter: https://twitter.com/armadatoken?s=21 + +Google Store: https://play.google.com/store/apps/details?id=armadaport.armadacrypto.app +I always rolled my eyes at these types of posts on WSB because they seem pretty self indulgent, but then I realised that some of you might actually find my story helpful or edifying in some way, even if I am just a lucky retard. So here goes (this is long, so thank you if you make it to the end): + +How I went from $5k to $65k, back to $10k, then to $120k, back to $70k and finally hit $200k in 5 years, starting at age 18, and why none of it really matters - + +As requested, here are my best and worse trades: + +Best: +$65k profit on ESK +$25k profit on SZL +$35k profit on SZL again +$30ishk profit on Z1P +$20k profit on OPY +$30k total profit on BBOZ/BBUS/GEAR +$10k profit on 9SP + +Worst: +$50k loss bagholding Z1P, OPY and SZL after earnings +$12k loss on BBOZ + +My story: + +I moved out of home when I was 18 and went to the city of Melbourne to live in a shitty share house because I thought I was gonna do something big with my life. At the time I was running this retarded charity but I really thought I was doing something others weren’t and making proper moves. That whole venture inevitably failed and I realised two things: +1. If you want to have a real impact in this world you need either money or power, but likely both. +2. Living independently is expensive and I’m a fucking retard for thinking I could make a living out of giving other people money. + +So, I worked out the figure I would need to actually make some kind of real impactful change in my life and others and it came out at around 200k. The details don’t really matter but the point is I had a very strong motivation. I wasn’t just chasing money for the sake of saying I had money. I had a plan for it. To cut a long story short, I saved up my first $5k working about 6 different jobs (mostly pizza/delivery driving jobs, night jobs like bar work, shelf stacking and I also worked at flight centre during the day) and with my part time wage at flight centre I marched into Westpac and demanded they give me a mortgage. No, seriously, in my first interview with a mortgage broker he basically told me it was idiotic to ask for a mortgage on a part time wage but I quite literally didn’t take no for an answer and told him to stick all the figures into their little home loan calculator and the figure came out at $45k as what I could borrow. So with the $45k mortgage and using my $5k as a 10% deposit I bought a $50k block of land (3 acres) near Halls Gap. The mortgage on it was about $250 a month, so I rented the land out to a beekeeper for a year, and to a farmer to use as a paddock for the second year, charging $300 a month. After 2 years I sold the land for $102k without real estate agent fees or anything. Just did it myself online and paid a solicitor to draw up contracts etc. That pretty much brings us to 2018 and I’m thinking “what next?” After endless hours of research I decided to split the money up. $25k to the stock market, $15k to my new “business venture”, $5k on advertising for the book I had written during the two years I had the land (it’s a fiction novel and completely unrelated) and $5k to spend on furthering my own education and inventory (short courses, a business camp at Melbourne uni and equipment for making videos and writing etc). The business venture was buying up vending machines/atms and flipping them or sometimes just riding the income. Most I just left where they were but I had 1 installed in a pub in the country town my mum had moved to and 1 put in a hairdressers in the south of Melbourne. At the peak of this venture I had about 7 atms/vending machines around Vic. +Now, for what you’re all probably here for - the stock market. +I pretty much wasted the whole of 2019 just investing in really safe boring shit that pretty much offered very little in terms of capital gains. I also didn’t give it enough attention because I was so focused on other things (was at uni during this whole time too) and some life stuff happened that set me back a bit (moved back home with my mum and couldn’t work for a little while). And this is where, honestly, the factor of sheer blind retarded luck comes in - I decided in January of this year to just take all my money out because i couldn’t give it my full attention. I wasn’t on any forums, or reading the news so I had no idea about Corona. Then the market started to crash, and suddenly I realised all my money needed to be pooled back into the market. I had already sold a good amount of my machines and quickly listed the rest on gumtree etc. Most sold pretty much straight away and I threw the money I had (around $65k) on different shares (some banks, APT, and web/flt thinking I was timing the bottom). Then it dropped even more, and I panicked. Went online, found ausstocks, WSB, etc. Decided BBOZ was a wise investment, and lost even more as the market did a 180. Essentially at my worst point I was at a measly $10k. I was devastated. All that hard work and strategy and whatever for nothing. Then, I wrote down some rules. + +My rules/tips: + +1. First and foremost, you need to find a way of trading/investing that works for you. For me, contra-swing trading was the most successful, but that’s really just a fancy way of saying I trolled asxbets looking for rockets I liked and leveraged myself to the tits on them using CommSec’s T+2. The downsides to this were the times where I would be holding something that’s getting pummelled and I’d have to sell instead of being able to hold. The upsides were that when I was really sure about a stock or an idea, I could use $250k worth of leverage when I only had $125k in my account, and could take way better advantage of the returns. This can be risky so you do need to be careful, for example I seriously don’t advise using all your leverage on a hyped up penny stock, but without this I wouldn’t have had anywhere near the type of returns I’ve had over the last year especially. +2. Be humble or risk being humbled. Any time I started wanking to my own reflection cause I’d made $400 in 2 minutes whilst people slaved away at their 9-5s for a quarter of that, i would immediately be put in my place by the market. It’s nonsense talk and the market will always be happy to bring you crashing back down to earth. +3. Contextualise yourself, constantly. The overall market matters just as much as your individual ticker. We have just come out of one of the best bull runs in my human existence, if not the best. I knew the early losses didn’t matter cause eventually the crashing would stop and the other side would be glorious, BUT I was extremely lucky not to completely run out of money before that happened. Currently, we are seeing a BNPL craze (probably a bubble) but it’s an absolute cash cow (just don’t get too attached cause it can fall out it’s ass at any minute). +4. Set consistent goals and reward yourself each time you hit them. It can be draining as fuck, so run yourself a bath when you hit your next mark or do something else gay to chill the fuck out. I didn’t too this till it was too late and found myself having fucked panic attacks in the middle of Coles. +5. Adversity is your friend, not your enemy. There can be some amazing lessons buried beneath the pain of failure or loss. You just have to look. Also, amazing, life changing luck often has a funny way of disguising itself as terrible, shit luck. +6. Be patient. There won’t be a rocket every other night. +7. Develop your own internal price meter for tickers and the market. What’s it worth? If you know, then you can say if it’s undervalued or overvalued. Buy when it’s under and sell when it’s over. You won’t always be right, but more often than not you will and you’ll beat the market to it. +8. Look for reasons to be wrong, not ones to be right. Confirmation bias is a massive thing. Learn about it, and when you find yourself posting on reddit at 1am saying “what do we think boiz, is NZS going to the moon tomorrow?? 🚀🚀😈😈” then you probably shouldn’t have put your money in it. +9. There are other investments outside of the market. I owned land, atms, wrote a book and I also invested in myself. Diversify, be creative. +10. Finally, follow your rules. Sometimes you’ll want to break them, but don’t. You wrote them down for a reason. + +There are also some fundamental rules in the market which I think are important to acknowledge and I’ve never seen them be wrong, such as: + +1. Supply and demand is king. It just is. It’s the whole point of the market, so don’t ignore it. +2. “Buy the rumour, sell the news” - every time you think it’s gonna be different this time, this time it’s gonna exceed expectations, and it does, but it doesn’t matter. If a stock has any kind of hype or run up leading to rumoured news or announcements or earnings, it’s been priced in. + +3. Speaking of, “priced in” - I like to think of the market as a very efficient, evolving beast, that thrives on hype and crumbles on uncertainty. That’s all to say that, 50% of the time, it’s priced in all the time. + +4. Market open and market close could literally be their own independent markets - in my early days I’d buy a stock only to sell it at open in a panic for a -5% loss, only to see it zoom to +4% by afternoon. Generally, you want to buy before close and sell at open (that’s if it’s a gainer. If it’s a loser, never sell at open). + +5. On busy stocks (lots of volume), don’t place at market orders. They take forever and you’ll lose money. Consistently refresh and chose an at limit price. + +6. Don’t panic. Even swing/day trading something, do your best to limit emotion. My best trade (ESK), I was originally facing a $20k loss, but I used all my remaining leverage and doubled down. The next morning it had doubled in price. Think to yourself “what would a millionaire do right now?” And do it. + +7. Tell FOMO to fuck off. Who gives a fuck, really, if you missed out. You can’t get every single gain on the market, but if you’re a FOMO retard you’ll likely get every single loss. I bought APT at $8.90 and sold it the next day for $600 profit so I could buy more BBOZ. Every now and then I calculate how much that APT holding would be worth now, last time I checked it was around $340k. But I also know that I learned from APT FOMO, and still profited hugely on the BNPL craze because I identified the fact that I wasn’t alone in that FOMO and people would start looking at the other BNPL stocks eventually, which allowed me to get in early. + +8. Hype is good but don’t just blindly jump on rockets. Decide for yourself (DYOR). I bought ESK because I genuinely believed it was undervalued. I thought fair value was around $1.80 at time of announcement, and it reached $3 or something. Straight after, ATH rocketed up, but I left it alone cause it was a shit announcement and I knew it was just ESK FOMO. + +But honestly, above all else, you should look after yourself. I didn’t, and it affected my health both mentally and physically. Your body needs care and affection, and you need to like being in your own skin and around the people you are around. If you find yourself sitting at a family dinner completely zoned out because you’re picturing Z1P going to Mars, then maybe it’s time to take a break. And just like on the days where you reward yourself for smashing a target, you need to care for yourself when you feel like a worthless piece of shit cause you lost $30k on ATH. + +But, here’s why none of this matters: + +The truth is you’re probably not gonna be able to replicate it. Majority of my gains this year were due to the following factors that I’ve been able to identify: +1. Biggest bull run in history didn’t hurt +2. Evolution of social trading +3. Good timing and luck + +I’m also young and don’t have any real responsibilities. Many of you probably have a completely different risk appetite so a lot of my advice is probably moot to you anyway. Chances are I also have no fucking idea what I’m talking about. I don’t have a degree in finance or commerce. I don’t know how to read charts or play options. + +Anyway, I hope some of this was helpful to some of you in some way. This was really just meant to be a love letter to all of you, so hopefully it didn’t come off too much as a love letter to my own stiff dick. + +Good luck! +Five months ago I discovered crypto through Bitcoin's gains. First I bought Litecoin, then I bought Ethereum. I was euphoric seeing my money almost tripple. Then the market corrected but I was fine with it, I am used to it from the stock market. I started trading a bit here and there by buying altcoins, which was unprofitable. +Then the China news hit. Impulsively I sold everything. Albeit at a profit, but only a tenth of what I would've had if I just held on to Ethereum. "Okay, no problem. Beginner mistake." I said. I decided to try and recover my original stack by trading some more, in Bitcoin. I read a book about trading and went for it. Day in and day out I was continuously checking the numbers. I stopped reading other books, I stopped learning, I stopped programming, I stopped doing anything that truly fascinates me. Then yesterday Bitcoin quickly plummeted again, I sold with a marginal profit and instinctively converted everything to Ethereum. + +My heart stopped. + +I saw only half of the Ethereum that I should've received and my money was gone. I assumed I made a typo because the order was completely filled. I thought I fucked up bigtime by selling too cheap. "I'm done with this and will just hold Ethereum." Fortunately it must have been some delay because a minute or two later the correct amount of Ether appeared. Then it dawned on me. "What the fuck am I doing with my time. My life is worthless if I just anxiously watch numbers all day, in order to 'make more money' to afford to keep on watching numbers all day, ad infinitum." Maybe I might make more money in the long run if I'm lucky, but at what cost? Money is only a means to an end. If it consumes you, your life is wasted. It's actually similar to being being wasted. The feeling of elation is very short lasting, and whenever you feel it you got to have more. It gives you a false sense of satisfaction, by not really doing anything; you don't improve yourself as a person. + +I'm not rich nor famous, but now I kind of understand what Jim Carrey meant when he said: “I think everybody should get rich and famous and do everything they ever dreamed of so they can see that it's not the answer.” + +Good luck to all of you. May we all get rich and see it is not the answer. + +Edit: I'm not saying that Bitcoin; trading; speculating; being rich; etc. is bad, but if it is making you less happy and anxious, or if it distracts you from doing things you prefer doing, then it isn't worth it. Especially if you can't handle it or suck at it, like me. Conversely, if those things improve your life, then by all means keep doing what you're doing. +In regards to last weeks post: 7 Sharpe [Reddit.com](https://www.reddit.com/r/algotrading/comments/p04fij/sharpe_ratio_of_7_what_did_i_mess_up_on_i_got/) + +&#x200B; + +I'm now at 11.50 Sharpe :) all tests have checked out, I'm running live simulation this month and will be doing real world money in September. + +My current results: [https://imgur.com/a/IoRKNGS](https://imgur.com/a/IoRKNGS) and extra stuff + +https://preview.redd.it/jdh87pkjyrg71.png?width=1352&format=png&auto=webp&s=24752e213529e5f2a9af793a71720d5745102a73 + +&#x200B; + +Software used: + +JMP for statistical analysis (cuz I dont know how to code nor am a mathematician but I can click buttons and have this do the heavy lifting) + +quantshare for trading (has a nice gui for the non coders) + +Candlescanner (helps with identifying reoccurring opportunities) + +&#x200B; + +&#x200B; + +Thank you everyone in here for helping a non-coder out and giving me tips. My plan was to see if my strategy works and if it does then get into coding. I now have a reason hopefully as I learn more I can contribute back to you fine folks. +I’m trying to learn more about different strategies and also joined the Vega gang sub. However I’m failing to understand what the major differences are between Theta gang and Vega gang. What strategies do Vega gangsters use? Thanks and happy Friday, May all your contracts expire worthless! +Welcome to the Daily General Discussion thread of /r/EthTrader. + +*** + +The thread guidelines are as follows: + +- All sub rules apply here so please review our **[rules page](https://www.reddit.com/r/ethtrader/about/rules/)** to become familiar with them. The rules page is also linked in the announcement bar above. +- This thread is meant to be more relaxed compared to the serious daily thread. Memes, lambos, moons are all welcome. +- If the front page gets overloaded with memes, all but the top two posted and voted on may be removed. Basically, please post memes in this thread first and upvote the best so the mods know which ones to keep if we need to remove a bunch of memes from the front page. + +*** + + Resources and other information: + +* Newcomers who have basic questions about Ethereum can find answers by visiting /r/EthereumNoobies or our [Ethereum Education wiki page](https://www.reddit.com/r/ethtrader/wiki/education). + +* To view live streaming comments for this thread, [click here](https://reddit-stream.com/comments/auto). Account permissions are required to post comments through Reddit-Stream.com. + +*** + +Thank you in advance for your participation. Enjoy! + +These stats were released a while back from a popular prop firm, so I’m sure many of you have seen this. It shows that only about 5 people out of the 5,718 people who paid for the challenge actually got a pay out. That’s roughly a 99.9% fail rate if my math is correct.. This also shows that 97% people who post their pass certificates end up blowing their account or violating it in another manner. + +What’s your opinion on why so many people who pass the 2 stage evaluation end up failing? Is it because of the psychological side of it? That it’s a “live” account? +We need an insider to help the poor idiots who failed their T+2. + +[Help the retards in their sub-reddit.](https://preview.redd.it/goo190bhnvv61.png?width=1460&format=png&auto=webp&s=10e97e582802697da3462d66e710951170dc6aa4) + +Link to those who actually want to try [here.](https://cba.wd3.myworkdayjobs.com/en-US/commbank_careers/job/Sydney-CBD-Area/Customer-Service-Representative---CommSec_REQ127049?source=Indeed) +Hoping to get an honest dose of perspective. + +\-Reached comfortable FI status \~3 years ago + +\-Have continued working at a remote job requires 10-15 hours of work a week + +\-Job is well-paid, low-effort, and provides low-cost healthcare - it is hard to justify quitting. However, I dislike aspects of it greatly. + +Appreciate any thoughts on this situation. Thank you! + +Edit 1: removed unnecessary info to make this shorter. + +\*\*Edit 2: This has all been super helpful and encouraging to hear the diverse range of perspectives, questions to consider, and thoughts. (\*\*I've documented the prompts many of your generously provided to analyze the situation further in a quarterly planning tool I use. I am certain working through this over the next 3 months will help with understanding better my motivations for early retirement vs. staying in paid work.) + +**Thank you!** +I am not anywhere near fluent in economics but whenever I bring up how we may have another Great Depression in the future I’m told that the reason the depression was so bad was because of the way the government handled it throughout. So the one question I have is was the Great Depression mainly bad because of the events leading to it or the way it was handled? And if it is the latter what did the government do (or fail to do) that made the depression so bad. +About a century ago, it was among the top 10 richest countries in the world, today it's just another South American country that seems to be stuck in a middle income trap. Obviously the answer is complicated and has a lot to do with the policies of successive governments, but I'm thinking of it in apolitical terms, by comparing them to some countries that moved in the opposite direction. + +Could it be that a good climate, lots of mineral deposits and a sparsely-populated landmass is actually a curse instead of a blessing for the people of a country in the long run? Some other examples of this is probably the rest of South America, Southern Europe, parts of the Middle East and mineral-rich African countries. There are however some exceptions like USA, Australia and France. + +Conversely, countries with a bad climate, very little arable land and mineral deposits and a dense population seem to develop a culture that prioritizes labor productivity, because human resource is all they have; and because of that, they experience a lot more progress in income and quality of life. I look at Northern Europe, particularly Germany, and East Asian countries as examples for this. + +Does that theory hold any water? +Welcome to the Daily General Discussion thread of /r/EthTrader. + +*** + +Thread guidelines: + +- Please refrain from discussing non-Ethereum related tokens here. You are welcome to discuss altcoins in the Daily Altcoin Discussion thread. +- All [sub rules](https://www.reddit.com/r/ethtrader/about/rules/) apply here so please be familiar with them. + +*** + + Resources and other information: + +* Newcomers who have basic questions about Ethereum can find answers by visiting /r/EthereumNoobies or our Ethereum Education wiki page, [see here](https://www.reddit.com/r/ethtrader/wiki/education). + +* To view live streaming comments for this thread, [click here](https://reddit-stream.com/comments/auto). Account permissions are required to post comments through Reddit-Stream.com. + +*** + +Enjoy! + +Your markets are run by bots. Now your /r/Asx_bets daily threads are too. + +Read the [wiki](https://www.reddit.com/r/asx_bets/wiki/index/) people[.](https://styles.redditmedia.com/t5_2hqqj5/styles/communityIcon_41pmnaqp4zn41.png?width=256&s=59bf38425fb316fdcba30365b272a5f19352f370) + +[Posts relating to the "Is /r/ASX\_bets about finance or effect your mental health?" etc will lead to a ban of the mods chosing. You have been warned.](https://www.reddit.com/r/ASX_Bets/comments/l0l9et/the_does_asx_bets_effect_your_finances_emotions/?utm_medium=android_app&utm_source=share) + +Automoderator may provide "Guidance" for Lazy and zero effort posting. + +[We have an active official/unofficial discord. It's open to all discussions, stonks related and non-stonks related.](https://discord.gg/wsNDGTf5QH) +My friend has wanted a home for years, but they have very little savings, and little credit. They have proven themselves to be pretty trustworthy over the years that I have known them. + +I would like to help them, but I'm not quite sure what would be a fair and financially responsible way for me to get involved. I don't want to gift them the house, and I don't want to lock up a bunch of capital without getting some kind of return on it. + +Assuming I would fund the down payment and guarantee the mortgage, and they would be responsible for making the monthly payments of PITI, what would be a fair way of distributing ownership of the property? Like some kind of gradual increasing share of ownership up to sun maximum, or up until my principle was paid off with interest? + +If they got a job and had to move out of state, What kind of incentive structure could I put in place that would make them want to make sure the house was rented or sold at a profit? + + +Would love to hear about what models have worked for you, or what you've heard of or think would be a good choice. +I was looking at Vanguard Information Technology (VGT) holdings this afternoon, and was shocked to find that although there are 331 companies in this ETF, 36% of the entire fund consists of just two companies: Apple and Microsoft. See here: [https://investor.vanguard.com/etf/profile/portfolio/VGT/portfolio-holdings](https://investor.vanguard.com/etf/profile/portfolio/VGT/portfolio-holdings) + +The reason that I invest in ETFs is to diversify my holdings of equity securities. I've been tossing a few dollars into VGT since last year, under the assumption that since it's an ETF, my investments will be broadly diversified across the information technology industry. So here are some questions I now have: + +1. Is this dramatic skewedness toward just one or two companies unusual in an ETF? +2. Does anyone care to explain why such a skewness is justified in this case? +3. What are some technology ETFs that better balances the exposure to each company in the fund, but also have near-zero expense ratios? +The origins of the petrodollar system go back to the Bretton Woods Agreement, which replaced the gold standard with the U.S. dollar as the reserve currency. Under the agreement, the U.S. dollar was pegged to gold, while other global currencies were pegged to the U.S. dollar. **But because of massive** **stagflation**, President Nixon announced in 1971 that the greenback would no longer be exchanged for gold to boost economic growth for the U.S. + +why did the usd pegged to gold cause stagflation in 1971? +Bad news for $NIO + +[https://www.bnnbloomberg.ca/tesla-model-3-sedan-aces-all-of-u-s-safety-agency-s-crash-tests-1.1140533](https://www.bnnbloomberg.ca/tesla-model-3-sedan-aces-all-of-u-s-safety-agency-s-crash-tests-1.1140533) +Not trying to trigger people but I would like to learn from first Hand account of people who made real gains in the market and booked profits. + +&#x200B; + +my friend who works for a leading financial services org and is a CFA is in losses and was just about breaking even before the lockdown. + +Another guy whos been very disciplined with his SIPs for close to 10 years is down 27% but then he never really created any wealth in the MFs. + + My MBA classmate who works for Ford in the US and has Been investing sinice his School days apparently is also down and says he’s losing faith in markets and want to shift to safer avenues of investment. + +&#x200B; + +I understand we have cyclical downturns and that is inherent nature of the beast but we also know we can’t time the market then how do you get out to make something out of your $$$$$ or do you just stay invested only to go through another down. + +&#x200B; + +&#x200B; + +Honest feedback please +Late 30s, sold a digital marketing agency 3 years ago that started with friends in 2007, currently at around 16M in the SF Bay Area. + +Currently "living my best life" with everything I could ask for and could only dream of back when I was in high school/college. + +I'm not a material person but have a downtown condo, big house on the hills, couple of fancy cars, but other than that I dress like a college kid and don't own anything else of high value. + +Currently single with a dog and have what some describe as Peter Pan syndrome and don't really want this to change. + +Have traveled a moderate amount and want to continue doing so, also donate, volunteer a bit--and overall feel very fulfilled with my life--yet, the existential crisis feeling pops up every once in a while. + +I practice mindfulness and gratitude and those certainly help, but it's just the ultimate first world problem that I'm essentially playing life on the easiest mode now. + +I'm reminded of perhaps my three most happiest moments of my life: college when I had actual friends for the first time in ever (extreme introvert younger), starting our business which was as much exciting and fulfilling as it was stressful, and the time we learned we were selling (all the hard work was coming to fruition). + +Now there's just not a whole lot to look forward to as there was, I don't have interest in reliving the startup days, or having kids. + +I'm interested in potentially trying out psychodelic therapy which I think can help, but really want to live without regret in 10, 25, 50 years if I make it during this time period. +🧩 ENKRYPT🧩 + +🚀 STEALTH LAUNCHED 🚀 + +&#x200B; + +❓Mystery Dev❓ + +&#x200B; + +Huge Wallets have joined for a mystery coin.. Codes that we still can’t decipher… Satoshi himself would be impressed. + + + + + +Check the chart. Community solved a little part of the puzzle and they expect some big things to happen. + + + + + +NEED HELP DECIPHERING THE CODE + + + + + +Dev had SHIBA INU references all over, BTC Genesis block part of it and BSC 1M wallets are holders. + + + + + +For the new joiners - this is what we know so far + + + + + +Multiple strange audio files left within chat and on website, hinting at previous coins produced and work done. + + + + + +Coordinates hidden within website code that goes to shibakoen in Tokyo, more specifically, to a hidden tomb that is very significant in Japan. + + + + + +The Dev has signed off a message with the initial ‘R’. + + + + + +There is a cryptic language on the website that we cannot decipher. + + + + + +The dev has also played us a video from Robert Kiyosaki about wealth manifestations and being an entrepreneur + + + + + +We all think this dev is a big dev of a popular coin and the flags seem to point that way. He mentioned he has had good success on the eth chain and that he cannot reveal who he is. + +&#x200B; + +Community in charge of everything. + +🌐 Website: [www.Ienkrypt.com](https://www.Ienkrypt.com) + +✉️ Telegram: [https://t.me/FUWs6YWXW21jNTk0](https://t.me/FUWs6YWXW21jNTk0) + +🔒 Locked Liquidity Pool + +✅ 5% of Every Transaction Straight to Locked Liquidity + +🤝 5% Redistributed to Holders +Welcome to the Daily General Discussion thread of /r/EthTrader. + +*** + +Thread guidelines: + +- Please refrain from discussing non-Ethereum related tokens here. You are welcome to discuss altcoins in the Daily Altcoin Discussion thread. +- All [sub rules](https://www.reddit.com/r/ethtrader/about/rules/) apply here so please be familiar with them. + +*** + + Resources and other information: + +* Newcomers who have basic questions about Ethereum can find answers by visiting /r/EthereumNoobies or our Ethereum Education wiki page, [see here](https://www.reddit.com/r/ethtrader/wiki/education). + +* To view live streaming comments for this thread, [click here](https://reddit-stream.com/comments/auto). Account permissions are required to post comments through Reddit-Stream.com. + +*** + +Enjoy! + +Welcome to the Daily General Discussion thread of /r/EthTrader. + +*** + +Thread guidelines: + +- Please refrain from discussing non-Ethereum related tokens here. You are welcome to discuss altcoins in the Daily Altcoin Discussion thread. +- All [sub rules](https://www.reddit.com/r/ethtrader/about/rules/) apply here so please be familiar with them. + +*** + + Resources and other information: + +* Newcomers who have basic questions about Ethereum can find answers by visiting /r/EthereumNoobies or our Ethereum Education wiki page, [see here](https://www.reddit.com/r/ethtrader/wiki/education). + +* To view live streaming comments for this thread, [click here](https://reddit-stream.com/comments/auto). Account permissions are required to post comments through Reddit-Stream.com. + +*** + +Enjoy! + +My post on personalfinance got deleted by a mod and told me to post in either legaladvice or here. Just to be clear, I am not asking for legal advice, I now have a lawyer. My reason for posting was to share my experience. Not looking for pity from the community, just sharing which I thought reddit was all about. If this gets clipped, I guess my experience on these subs is skewed somehow. + +My original post: + +Sorry for the downer post. I posted here less than a month ago and got a lot of insightful replies and suggestions. At that time I had no idea this was coming today. + +Marriage can be a complicated road to travel. Lots of bumps and turns over the last 26 years of it. Mine will be coming to a stop soon and I will either make a right or left. + +My thoughts about FI or even RE are not what got me here. But, here I am and will be making a new plan after the dust settles. Getting late in the game for me to recover easily but I will put in what it takes to do so. + +Just a point to consider for the younger crowd about how things can change and an illustration of how your best laid out plan can fail. It can be health related, relationship related and so many other things. + +EDIT: Didn't expect this post to blow up like this. Was busy today meeting with counsel and discussing the situation. Realistically, I was advised that of course 50% of all assets will be divided. Also told the variable is in alimony awarded. Will be 50% of my income at the least and can last from 8 years to perpetuity (i.e. until I die) based on the length of the marriage. That point was the tough one to hear. The journey has just begun so I will buckle in and get ready for the ride. + +Many, many thanks for all the comments. I can't possibly reply to each individually, but trust I have read them all. Some made me laugh, some made me cry and some left me scratching my head. Lol. I feel compelled to update as time goes on, and I will let everyone that cares to know, know what the status is. Thanks again reddit FIRE community, your comments mean a lot to me right now. +Hi guys, + +One of the most common questions I find around here, and around other subs, is “what is the best broker?”. Giving a correct answer to this question is quite challenging, this is because different people have different opinions about what the word BEST means, for some is the safest, for others is the most reputable, for others is the one with the best user experience, and for (many) others is the cheapest. + +I must admit I spent way too much time looking into platforms available across Europe, decided to invest a small amount of money into each, and have a rough idea of the costs and the user experience. + +A quick disclaimer. Please feel free to use this information to inform your decision about which broker to choose but keep in mind this is just my opinion and I did not test all sorts of investment instruments available in the platform, which of course might change the results. This assumes you are a small investor, like me, and invest around 100-200 EUR per month in US stocks and ETFs. + +Here is the list of the platforms I tested from cheapest to most expensive + +&#x200B; + +**Lightyear** + +*Fees:* + +Buying and selling stock is 100%, i.e. you don’t pay fees. The only fee Lightyear charges is a Foreign Exchange (FX) fee of 0.35% to convert EUR to USD. So, for 100 EUR you will pay 0.35 EUR in fees. You can decrease the FX fee by using Revolut, I converted the 100 EUR to USD and transfer it to Lightyear, this way you avoid the 0.35% fee. + +If you have big pockets and invest more than 3000 EUR per month you need to pay xx %. + +*Pros:* + +The UI is polished and simple. + +When you open the app it shows you the performance of your portfolio and relevant news about the stocks you own and the market in general. + +The stock page gives relevant information such as recent news about the company, analysts' price target, the annual revenue and net income, and the expected and achieved earnings of the last 2 years (I believe this will be a premium feature in the future). + +It takes a few minutes to top up your account. + +You get 10 EUR to invest when you create a new account using a friend’s link. If you need one send a DM. + +*Cons:* + +Fractional shares are only available for market orders. Limit orders require you to buy a full share. + +The platform is quite recent and I’m not sure if not charging fees is a sustainable business model. + +Only has US stocks and ETFs. + +&#x200B; + +**Trading 212** + +*Fees:* + +Trading 212 charges an FX fee of 0.15% to convert EUR to USD. So, for 100 EUR you will pay 0.35 EUR in fees. You can decrease the FX fee by using Revolut, I converted the 100 EUR to USD and transfer it to Lightyear, this way you avoid the 0.15% fee. + +*Pros:* + +The UI is polished and simple. + +Trading 212 pies are probably my favorite feature of all the apps. You can define an investment pie, with x % of each stock you want to buy, and make it a recurring buy, thus making dollar cost averaging quite easy. + +The stock page gives relevant information such as the P/E ratio, EPS, and BETA. You can also access more data like valuations, growth, and much more. + +While Trading 212 is a somewhat new platform, it is one of the best new platforms that seems to have a solid team and a good balance sheet as it makes some money with its CFD product. + +It has an ISA account. + +*Cons:* + +Top-ups are usually fast but sometimes I had to wait 2 days to get the money in my account. + +You can only top-up with EUR, so you need to pay the FX fee every time you buy or sell a stock. + +The app is a bit spammy, it sends you a lot of notifications by default. + +You get a free share of up to 100 EUR when you create a new account using a friend’s link. This is a con because it does not allow you to choose the stock and most times is a shitty stock. If you need a link, send DM. + +&#x200B; + +**Interactive brokers** + +*Fees:* + +The fees are a bit messy and hard to understand. See [here](https://www.interactivebrokers.com/en/pricing/commissions-stocks.php?re=amer) for a complete list. But assuming an investment of 100 EUR per month on USD stocks/ETFs you will pay 0.0035 USD per trade plus an FX fee of 2 EUR. For large purchases, the situation is quite different and might make sense. + +*Pros:* + +It has several a lot of different investment instruments. + +The stock page gives all the information you need to evaluate a stock and shows financial statements, analysts' predictions, and some recent news about the company. Probably the most detailed of all brokers I tested + +IBKR is a really solid company with many customers across Europe and the work. It is the most reputable company of all the ones in this post. + +*Cons:* + +It is a bit difficult to get used to the UI. + +The top-up experience is ok, but you can only add money via bank transfer. For EUR transfers it is quite fast, but for USD it takes a while. + +The 2 EUR minimum FX fee makes it hard to justify for small investors. + +You get up to 1000 USD in IBKR if you create a new account using a friend’s link. If you need one send a DM. + +&#x200B; + +**Degiro** + +*Fees:* + +Degiro recently has small trading fees but for small investors, this might not be the better option. To buy a stock or ETF you pay a 1 EUR fee per transaction, this is good for large investors. But if you are like me and invest 100 EUR per month, that’s a 1% fee. However, Degiro has a selection of truly free ETFs, which is a good option for small investors. + +FX fee is 0.25% and you need to pay 2.5 EUR annually per exchange you are connected to. + +*Pros:* + +The UI is ok. + +The stock page gives all the information you need to evaluate a stock and shows financial statements, analysts' predictions, and some recent news about the company. + +Degiro is a solid company with many customers across Europe and has been in the game for a while. + +*Cons:* + +The top-up experience is far from ideal, it has been slow during my testing, and requires you to send money always from the same account. + +The exchange connection fee, the minimum 1 EUR fee per trade, and the FX fee make it hard to justify for small investors. + +You get a voucher o 5 EUR in fees when you create a new account using a friend’s link. If you need one send a DM. + +&#x200B; + +I hope this help. I'm sure I missed some great platforms but if you have some suggestion about what to test next just let me know + +EDIT: Correction of Trading 212 FX fee +What are some small/medium (under $30k) purchases which can really make a big improvement to the quality of life for someone planning to fatFIRE or who has already fatFIREd? +Alright, I kept waiting for someone else to post about this and it hasn’t happened yet so here I am, posting about it. + +https://preview.redd.it/z94oj78a67u81.png?width=1244&format=png&auto=webp&s=cd750e5684c0303297c3b18a64f0c7c4f724c3e1 + +There is a sentence on the first page of the 10-K that is basically a standard sentence that all 10-Ks have now, but it is so informative and a great reference for point, and also a great point of comparison to other stocks. Once you understand what it’s telling you, it’ll jack your tits. Here’s the sentence: + +>The aggregate market value of the voting and non-voting common stock held by non-affiliates of the registrant as of July 30, 2021 was approximately $12.0 billion, based upon the closing market price of $161.12 per share of Class A Common Stock on the New York Stock Exchange. (For purposes of this calculation all of the registrant's directors and officers are deemed affiliates of the registrant.) + +Let’s break that down. + +**Voting and non-voting common stock:** Final edit: this is actually referring solely to the class of stock (such as preferred stock, or Class A and Class B stock) and is a generic inclusion in the 10-K statement. GameStop does not have a non-voting class of stock, so this whole 10-K statement would be referring to the same class of shares we own. The non-voting aspect assigned in a proxy (like with Vanguard, as mentioned in my original statement for this section) is different than what's in this 10-K statement. Going to strikethrough rather than delete my original comment for this section for transparency. End of final edit. + +*~~adding an edit here - non-voting stock can refer to a different class of stock (such as preferred stock) that does not offer voting rights, but GME doesn't have any class of stock issued other than the common shares we all own which do offer voting rights. End of edit.~~* ~~non-voting stock is stock that you’ve loaned out, so you no longer have voting rights. If you loan your shares and they are short-sold, the person who has purchased those shares now has the voting rights instead of you. Think Vanguard in the recent pre-proxy statement - they have 5M shares but don’t have voting rights. Those 5M non-voting shares would be included in the total in this statement, and because someone else now holds the voting rights in another account, they would then be included again as another 5M shares with voting rights.~~ *~~Second edit here: there are a lot of comments calling this point I make about lenders holding "non-voting" stock incorrect because they say that non-voting stock only refers to other classes of stock that don't give voting rights, and therefore everything else I wrote must be incorrect, but I'd like to point out that the main takeaway and most important part of this post is~~* ***~~not~~*** *~~about non-voting stock but rather about the "non-affiliate" component of the above statement. Also, if the holders like Vanguard, who have filed 13 G statements with the SEC to show their holdings but 0 voting rights don't count as non-voting stock, what happens to them in this scenario? Are they just no longer included as holders? Or are they still included as holders but just under the "voting stock" category and therefore it doesn't change the rest of what's below? But as I said, that's not the important part of this post, focus on the "non-affiliate" part. End of second edit.~~* + +**Non-affiliates:** anyone who isn’t an insider + +**Why use July 30, 2021:** The end of the second fiscal quarter, which is what all companies use as a reference point in these statements + +So basically this is saying that the value of the float shares (i.e. non-insider shares) they have on record as being owned on July 30, 2021 was $12.0B based on a closing price of $161.12. If you divide $12.0B by $161.12, you get about 74.48M shares… but… the actual size of the float on that date was about 65.17M shares. That means that 114.28% of the float was *officially* owned at that time. + +https://preview.redd.it/8ackilij67u81.png?width=1244&format=png&auto=webp&s=72c30f25d4a31d77dfd7f4b6fe73db4f1cfedd62 + +Well well well… didn’t that get more interesting all of a sudden! + +“No, this isn’t interesting, we already know more of the float is owned than should be, and besides, this is just another bullshit number because the actual number of shares owned is way higher than that” Ok fine, yes, I agree with all of that. That’s why this post isn’t over yet. + +I’m going to use a bit of a silly analogy here but hopefully it can help illustrate where I’m going with this post so please come along on this tangent with me. If you’ve got a pretty good understanding of why counterfeit shares (AKA naked shorts) would easily exceed this number, you can skip past the weird monopoly game. + +# Monopoly, but make it weird + +Let’s say you’re playing monopoly, and the bank holds all the properties. You can buy properties directly from the bank until they run out of properties, at which point you can then only purchase them from other players who are willing to sell their properties. + +https://preview.redd.it/0yia6a7t67u81.png?width=1176&format=png&auto=webp&s=48033f7aed95a92c962462431150ca59d836db36 + +Now this player, we’ll call him Mark, says “hey Tom, I need some Monopoly money, let me borrow Park Place and sell it to Suzy, but don’t worry I’ll buy it back later and return it to you. I’ll write up a contract with the bank so you know I’m good for it.” Mark is short selling monopoly properties. At this point, we could say that Park Place has two rightful owners, Tom and Suzy, but currently only Suzy gets to collect the money when someone lands on her space. + +But what if someone decided to make this game of monopoly way more complicated and there are now way too many players, instead of buying directly from the bank or a player you now have to make all of your purchases through an intermediary (a broker) and you’re blind to what other players own and who you’re buying from. + +[I’m actually a little surprised I found a picture for this.](https://preview.redd.it/btf2p89y67u81.png?width=1246&format=png&auto=webp&s=f70bbdfda9075623f28910dc1700cff8913681b7) + +The bank doesn’t get involved unless there are no players who can be traded with to buy or sell properties, or someone wants to write up a binding contract. + +Mark, our property short seller from earlier, gets crafty and prints a whole bunch of fake copies of Park Place and starts selling them. + +https://preview.redd.it/onaf6rr477u81.png?width=1244&format=png&auto=webp&s=8bb7322b4a7b4a8a3f895ddefe7f107681c836a7 + +Mark makes a shit ton of monopoly bucks on something that cost him nothing. It’s only a problem for Mark if someone lands on the space and now all of the owners of those fake copies are expecting to get paid rent. If Mark gets the money to the intermediary (the broker) to cover the payment to each owner, then no one needs to know what he’s done. The bank doesn’t know about any Park Place owners other than Tom and Suzy, since the others all received counterfeits that the bank doesn’t know about. + +# End scene. + +Alright, I hope I didn’t lose you too much during that fever dream of an explanation. Basically, the monopoly properties are shares of stock, Mark is a short seller, Tom is the lender, Suzy bought the shorted share, the properties that the monopoly bank knows about (Tom and Suzy’s) are the shares included in the 10-K statement, and the players holding counterfeit properties are the people who bought naked shorted shares, AKA counterfeit shares, and they are not included in the 10-K statement. + +**Important note:** this is my understanding of how the data works in these 10-K statements and I would appreciate it if anyone can help confirm or deny that the counterfeits are not included in that 10-K statement. Or confirm where the values originate from - the transfer agent? The DTCC? I couldn’t find this info. + +Anyway, back to why we care about this statement. GameStop has confirmed that on July 30, 2021 there were \~74.48M float shares owned out of a possible \~65.17M float shares, or in other words, there were 9.31M shares more (officially) than there should have been. + +If only we knew what the financial media, with their access to premium data that they use so they can feel smarter than everyone else, was reporting as short interest back then… oh wait, we do: + +[This is for August 16, 2021.](https://preview.redd.it/w3xkwrye77u81.png?width=1240&format=png&auto=webp&s=66c9d33eeb3fb8ec82f68484a78ae77444b3c6f0) + +Based on his reported 10.67% SI of float, he’s using a float size of 63.17M shares. He also posted the data on July 20, 2021 which said 7.87M shares shorted (which he reports as 13.54% short interest of the float, meaning he’s working with a float of 58.12M). [Archive link for the Aug 16 tweet](https://web.archive.org/web/20220414020728/https://twitter.com/ihors3/status/1427338168412614659?s=21&t=mnlswCotXi_KAsQ-sKoOQg) and [archive link for the Jul 20 tweet](https://web.archive.org/web/20220414021059/https://twitter.com/ihors3/status/1417567467199770625?s=21&t=mnlswCotXi_KAsQ-sKoOQg). Just in case 🙃 + +Alright, so his definition of float size has changed by about 5M shares in just under a month. Between July 20 2021 and August 16 2021, there were 0 insider transactions. Literally zero. There were also zero SEC filings from GME to indicate any changes to the number of shares outstanding during that time. So why the fuck did his float size change by 5M shares? And I’m not even talking about the S3 SI which for some reason includes the shorted number of shares in both the numerator and the denominator of the equation. I don’t have an answer to why his float size changed so drastically, I just wanted to point out how ridiculous it is. + +So based on his little chart and his tweets, the “official” number of shares shorted at the time was around 7.5M. We now know that according to GameStop’s records, at that time the number of excess shares was \~9.31M. How can you have more excess shares than shorted shares? Because mandated short selling reporting is all but useless and the number of shares shorted by financial media is bullshit, basically. + +Guess that fancy S3 data isn’t so great after all… I wonder… who uses that S3 data? + +[But obviously, we’re the “dumb money” 🙄](https://preview.redd.it/rv94w3wn77u81.png?width=972&format=png&auto=webp&s=788d80c3bca78e4ebf7a9509bd6df88590008339) + +So if ever someone is trying to refute the GME short thesis because “Bloomberg says \_\_\_\_” or “but nasdaq says \_\_\_\_”, you can point to GameStop’s 10-K and show them that their expensive data is garbage. + +“But maybe it’s GameStop’s data that’s bad.” Yes, that’s a good point, maybe it is. So let’s do a quick check of some other stocks. + +TSLA’s 10-K indicates 77.25M shares owned in excess of their official float on June 30, 2021 (TSLA’s official float was \~719M)… S3 data says just over 40M shares shorted at that time, so once again it’s way under the reality. ([Archive link to July 1 2021 tweet with chart](https://web.archive.org/web/20220415184602/https://twitter.com/ihors3/status/1410711807984087042?s=20&t=1qNV7e2Q6DRciwZukEG14g)) + +The 10-K for 🍿 says 1.5M shares owned in excess of the official float on June 30, 2021, and S3 says 89.96M shares shorted (🍿’s official float was \~511M). [Archive link to July 1 tweet with chart](https://web.archive.org/web/20220415185504/https://twitter.com/ihors3/status/1410710310118256643?s=20&t=1qNV7e2Q6DRciwZukEG14g). + +Wait… what? That 🍿 one is… backwards? Yes, it is. Now seems like a good time to explain that when a hedge fund is short selling, if there’s no one there to buy the share then market makers will just pick up the buy-side of that trade. If you think back to our monopoly game, it would be like the bank buying the property that Mark borrowed from Tom, cause it turned out Suzy didn’t want to buy it. A high number of reported shares shorted does not necessarily mean that there’s squeeze pressure if there’s just not enough buy pressure. + +Interestingly, that 🍿 squeeze that ran it up to the $50+ mark started in late May and then started dropping back down in early July, right after the record date used for the non-affiliate ownership values likely made it so that the non-affiliate share ownership value increased a substantial amount right before that snapshot date that gave us a mear 0.3% excess 🍿 float shares owned. Maybe that’s a coincidence, maybe not. + +[🍿 OBV rises shortly before the June 30th ownership snapshot would be taken for the 10-K. It is currently a little lower than it was on June 30th.](https://preview.redd.it/cx21othw77u81.png?width=1246&format=png&auto=webp&s=4b7f720d733a4bdd1aecd648c29fb9292d53ea14) + +After taking a look at the recent 10-Ks for TSLA and 🍿, I started to get curious about the historical ownership values. I also threw in a few FAANG stocks out of curiosity. + +[These values are not all based on the same date because not all companies have the same fiscal quarter calendars, but this is at the end of fiscal Q2 for each stock for each of the stated years on the left.](https://preview.redd.it/rilalq8287u81.png?width=1246&format=png&auto=webp&s=7c7caa193bd73a236eff28dae23f1007f735a700) + +Interestingly, TSLA, which has been undergoing a slow squeeze since late 2019, has seen a gradual increase in the excess number of shares they’ve been reporting on their 10-Ks. This is an interesting point of comparison because the non-affiliate ownership of TSLA at the end of June 2019 at 3.6% excess (in other words, 103.6% of the float was owned), and heading into just under 5% a year later, was already building enough buy pressure to ignite a slow squeeze. TSLA’s Q2 ends at the end of June, and the slow squeeze started around early December of 2019. Even if we assume that they had already reached that 5% in early December when their slow squeeze started (but I suspect it happened later based on their chart), that’s still only about ⅓ of the pressure GME had at the end of July 2021. + +If the squeeze had really squoze in January 2021, why is the official excess float ownership still so high in July 2021? And just for fun, here’s a look at GME’s OBV since then to see whether that buy pressure has increased or decreased… + +[GME OBV is even higher now than during the January sneeze.](https://preview.redd.it/yg9kzn4d87u81.png?width=1242&format=png&auto=webp&s=65f4826e1da1aeeaa4d5f9f1f25d55dec3437923) + +[GME OBV has also increased since that July 30th ownership snapshot from the 10-K.](https://preview.redd.it/da4qbtxi87u81.png?width=1232&format=png&auto=webp&s=875f25d0f4f77a098ae2616d671d82d5492a0f56) + +&#x200B; + +**TL;DR:** hedgies are well and truly fucked. Even by “official” data before you consider all of the counterfeit shares fuckery, the retail ownership of GME is astronomical. + +&#x200B; + +**Method:** for anyone interested in checking out other stocks to compare to this data, I used the non-affiliate ownership statements from the 10Ks, used total outstanding share counts from either 10Qs or proxies, depending on what was a closer date to the non-affiliate statement, and insider ownership from the proxies which I then added to or subtracted from (depending on timing) all of the share volume changes in the insider transactions found on fintel. I did my best to be as accurate as possible but the dates for the various data points didn’t always line up perfectly. Happy to share my Google sheet with anyone who wants to poke around in it. + +&#x200B; + +**Additional point of interest:** if even the officially reported non-affiliate ownership is already above the actual float, how will that play out for a GME stock split as dividend? Do they have to bring ownership levels back down to the “correct” level? I don't have an answer here, maybe something that someone else can shed some light on. + +As a comparison, TSLA announced their 5 for 1 split in the form of a stock dividend on August 11, 2020, and the actual split occurred on August 31, 2020. On June 30, 2020 there were 7.0M excess shares, at just under 5% excess of the float, and ihors3 tweeted that there were 14.76M shorted shares that day ([archive link](https://web.archive.org/web/20220418013247/https://twitter.com/ihors3/status/1278066253207425025?s=21&t=JxJhN4FhvOpa8V_F3SdjAg)). Here’s a chart in case you’re curious as to what the price action looked like after that. + +[Note that I’ve adjusted the closing price to what it would look like if there had not been a split.](https://preview.redd.it/vxxxrcdn87u81.png?width=1244&format=png&auto=webp&s=2ab05b5145d8e4f307399f54de1e80955fe28c06) + +Edit: There has been a few comments mentioning that the 5M difference in float size between ihors' July 20 tweet and August 16 tweet are because of the 5M additional shares issued, and yes that's most likely the case, but GameStop released the 8K announcing those 5M shares had been sold on June 22, almost a month before the July 20 tweet, and this data is being used by some pretty big sources so you would think they would be a little more up to date. Also, even after he's finally included those 5M shares in his August 16 tweet, his float size is still off by 2M shares which is pretty significant in an already small float. +I have 50k that I would like to invest. It's in my TFSA and I would like to hold onto an investment for 5 years or more and gain the most that I can. I've been investing for a year so far and currently down 5% Any help would be great +I love Ethtrader for opinions (scientific or completely emotional) about the causes of and length of price movements. Anyone have any thoughts on how deep this current dip will go? +This happens twice a year. Right after tax season and right before winter. It happens more often where low income people or where immigrants live. + +They show you a fake badge. It looks fresh off of the printer and looks poorly cut. They act like they work for a subsidiary of a utility. In my case they said they work for a subsidiary of Pepco. They ask for the bill. If it was Pepco or something part of it, there would be no need. They would have access to my info to some degree. They would know my name. They would call beforehand. Regardless of their countless demands, I say no. The guy starts to get hostile and frustrated when I tell him, I'll call Pepco in front of him and if they confirm what he says is true, I'll think about it. They were really adamant about getting the bill. + +I'm thinking, they're going for identity theft. + + + +Edit: I called Pepco and they don't have any subsidiaries. They flat out said that's a scam. + +Edit: Everyone that's touting that it's real is mistaken. These people didn't tell me much and were demanding to see my bill. They had no pamphlets, info sheets, no paperwork or anything. There were no terms. The ID was made of cheap copy paper. There's also a "No Solicitation" sign they ignored. Getting mad and demanding things is what scammers do. +I was told last night that I'm up for a termination review. The review will be between my supervisor and head of the Office of Residence Life only, I will not be a part of it. I was told I had two options, either wait for the outcome of the review, in which case I might get fired, or voluntarily resign before the review concludes. Based on interactions with my supervisor I think it's very likely that if I wait for the review to conclude I will be fired. My supervisor suggested that it would be better for me to voluntarily resign since in the future if potential employers asked me if I had ever been fired from a previous position, I could say no. But of course she's not exactly a neutral 3rd party in this, so I'm looking for alternative opinions. How much do employers care about previous terminations? Is it really better to resign voluntarily than to be fired? + + +*Note: I believe I'm not eligible for unemployment benefits. I was an RA for a college dorm, so I wasn't really getting paid, I just got compensated with free housing and meal plan. So I wasn't really earning a wage. And, I have to be actively looking for a job (3 work search attempts made on 3 separate days), which I won't be doing since I'm a college student with a full load of classes, and I'm not able to balance that with work off campus. One of the reasons I applied for an RA position is because I could do it while on campus, while I studied or did homework. + +For those curious, [this](https://www.reddit.com/r/personalfinance/comments/a8kn7x/is_it_better_to_resign_voluntarily_or_get_fired/ecbhpuc/?context=3) is why I'm getting fired. + +This is in Massachusetts +I was driving down the road today and checked GME AH to see the price had hit $200. I quickly pulled off the road and came to see what was being said here. + +After quickly reading the filing I had a complete meltdown and sobbed. + +I’ve worked hard my entire life and have lost everything multiple times. Each of those times was no fault of my own, lost the small portfolio my grandma left me during the dotcom collapse that was my college fund, lost my home in 2008 despite the fact I put 20 percent down and wasn’t sub prime, then illness in my family and lawsuits have sucked me dry. I’m only 38 years old but have experienced multiple once in a lifetime catastrophes. + +I’m living alone in a tiny apartment. I’ve sold my house, my cars, and pretty much everything else to keep my guys employed and acquire more shares. I haven’t made a dollar of actual profit in over a year. I recently had to lay off all my employees as a result of the company I own taking massive losses due to the pandemic and my expenses skyrocketing. I have yet to sell a single share. + +I’m so scared right now. I’m afraid this is going to be taken from me too. I honestly don’t know if I can sell when the time comes. + +I’m so proud of everyone here. We could have easily said oh well and sold at a loss. We could have chased the “next big thing” but we didn’t. We held to our convictions and said enough is enough. + +We know the battle isn’t over. We know fuckery is coming. But we also know everyone that’s still here is buying, holding, and DRSing our GME until we see phone numbers. + +After so many losses and hardships today felt like a real win. The crew at GameStop is on our side. We didn’t give up on them and they won’t give up on us. + +I know not many will read this but those who do, I love you and thank you for standing by my side to bring down the corruption that’s taken everything from me. + +Obligatory NFA. Obligatory buy, hold, drs and once again VOTE!!!!! +I'm not sure how well this is all going to come out, but I don't have many people to share this with and you never know who needs to hear that there is an end in sight. Also, on mobile so he gentle with any typos or grammar issues please. + +2020 was a miserable year for everyone, no mistaking it. Less than 2 weeks before COVID shut down my state, I found out my fiancée was unfaithful by catching her messaging 2 different people while at a wedding expo planning the details of our wedding. We separate immediately and I am left with the house, bills, and dog to support on my own. I had a decent job at the time, after years of being drastically underpaid I finally had something semi lucrative and finally pulled myself ahead (see my post history for that piece). In August, my company laid off a 3rd of its staff to COVID. My savings was dwindling as unemployment barely came close to bills and every month I slowly sank further into the red. A job certainly had to come along sooner or later. I was applying to 15-20 jobs a day and interviewing to 2-10 a week at times. Something had to give. + +In February I took a job at a company that was not honest with the travel, pay, or job duties. I worked there for 5 days before being strong armed into leaving. To this day, they never paid me. This forfeited my unemployment (yes I appealed but my state is an at will state and this immediately disqualified me, no ifs ands or buts). My savings already drained, I had a month to find something or start selling my stuff trying to salvage rent money. I'd already sold several electronics and various extras so it was about to get tougher. I had some major car issues that had to get resolved or lose the ability to interview. That put less than $250 dollars to my name with rent, car payments, utilities, and groceries ahead. Life got dark, it had been getting dark, but the last month I really contemplated ending everything. We're it not for my dog, I honestly would have. + +Que last week- I get a call for an interview and absolutely crushed it. Somehow I pulled myself together and just knocked it out of the park. When I got a call back for a 2nd interview, I balled. Yesterday I went in for the 2nd round and again, somehow got myself together and blew it out of the water. Before I left, the VP mentioned that I should anticipate an offer coming to me by the end of the day. It took everything in my power not to break down in the conference room. Got to the car and the cynic in me immediately began to resent him for getting my hopes up, convinced it was bullshit and I ultimately wouldn't get it- just like the 100+ other interviews I'd had over the last 6 months. + +An hour later I get the call, and I'll be damned- they really did offer me the position. I'll be making more than I did pre covid. With some extremely supportive people in my life, they are going to help me get through month's end to keep my home. + +The darkness is over. The doubt is over. The Ramen every fucking day is over. The weight of the world is no longer on my chest and my shoulders. Had I caved to any of those feelings over the last few months, and especially the last few weeks, I would not he here to write this. Life doesn't always give everyone a break, but you really can't find out if you don't keep giving it the opportunity to. + +Thank you for reading, I really just wanted to share this and hope it lands to someone who needs to hear it. + +TLDR; I was a month away from losing everything, and almost took it all away myself. Yesterday I was given a wonderful, lucrative, opportunity that I never would have received had I not kept pushing through all of the BS life offered. Just want people to know life happens to those who allow it. + + + + +Edit: Fixed a typo. Also, since this seems to he gaining more traction than anything I've ever posted. I cannot stress enough how the kind words have resonated with me. The overwhelming support, encouragement, and offer to assist I've received from total strangers is beyond heart warming. I'm trying to respond to as. Any as I can, but know I'm reading them all and saving this for a serious pick me up if I'm ever down again. Thank you to everyone. +I was mainly using Tesco Bank as my current account and I really like their iOS app as it was simple yet allowed me to do everything I needed easily. However, that's closing soon so I need to switch to another account. Since interest rates are low everywhere I guess I should pick one that has a good mobile app/website. I like to see a breakdown of my transactions and make the odd bank transfer. + +I've have accounts with various banks but I don't use them actively for my 'everyday' usage. + +Any suggestions? Would especially be interested from those that have used different banks. +My wife and I decided to load up our 3 kids in a prius and road trip from CO to TX for thanksgiving. Had a great time. We needed to be home by Monday, and with 3 kids it's easier to travel while they sleep, so we left TX at 6pm with the plan of driving through the night. Unfortunately we struck a coyote at 3:30am and left us stranded 160 miles from the nearest decent sized city. + +No problem, we've got full coverage insurance on 4 vehicles, including our newest one; this 2010 Prius we just purchased 2 months ago. But when we made the call, they told us we only have liability?! That's impossible. + +They said they'll launch an internal investigation on the original phone call, which my wife and I are 100% sure we said full coverage, but that will take a few days starting Monday (they don't investigate on sundays). + +They won't tow. They can't provide us with a rental car either. I've limped the car 8 miles to a small town with no rental services. I need to go 160 miles to the nearest larger town to get a rental and a uhaul dolly to take my car back to CO. + +So I'm highly considering leaving my family in a broken car and hitch hiking all 160 miles to get a rental. + +Needless to say, I'm so angry at progressive that I'd like to know what I can do? + +EDIT: Thank you all for the compassion and for some seriously great advice! We ultimately decided to have our inlaws laws drive 6hrs from CO with their truck and dolly to get us. We're hanging out in a hotel room until then. + +Now that the sun is out, I was able to see more of the damage. The coyote took out the bumper, fog light, radiator, radiator support, reservoir, somehow hit the abs sensor and the hood latch. I need this car to last us so I'm playing it safe and towing rather than duct taping this thing back together. + +Progressive hasn't followed up with us with anything new yet, likely won't until mid week. + +EDIT 2: Here's some great lessons from my misfortune! + +- It doesn't matter how many times you've done it, always double check your coverage, especially before a road trip. + +- While all calls are recorded, it still takes days to investigate. Be prepared to dig into your savings while they pull their required info or keep an emergency credit card. + +- Insurance companies carry insurance in case of a policy mixup. Save all receipts and keep logs of your expenses. + +Hopefully someone can benefit from this, and here's to hoping the insurance company does the right thing! (Lol) +Hello everyone, I am 22 years old and as the title says recently inherited roughly 110,000. I’ve never had anything close to this saved up before so I’m not exactly sure what to do with it or where to put it. + +I’ve already spoken to the financial advisor that was handling my grandfathers funds, but I was wondering if anyone here has any other insights. + +It’s all roughly set up as follows: + +- $40,000 in a 401(K) +- $ 50,000 in a Roth IRA +- $20,000 in a single account +- $5,000 in my checking account + +A little more information: + +Never have had a credit card, no debt, no school payments, paying about $1,200/mo in rent. + +I’m in between jobs currently because I’ve kind of let myself slack a bit, currently that’s priority one. + +I also took off of school during COVID and never got myself back into it since I lost my scholarship, what I want to do most with this money is finish my degree but I’m unsure how much I should leave as “untouchable” for retirement. + +Any and all help is appreciated, thanks! +Long story short. My older brother passed away from cancer and I ( younger brother ) was left as the Trustee. + +I’ve done the process of setting up a trust from my brothers life insurance. He has 5 children and each child will receive an inheritance of 75K. + +2 of those children well be of age (21) to receive their inheritance. Before any of the inheritance gets deposited, I’m planning on having them speak to the banks financial advisor. Aside from that, What’s the best financial advice I can help distill in them for receiving an inheritance amount of this value? +As stated in the title, we are looking to buy a starter home. Eventually, we would like to purchase land and build ourselves a forever home. We are having arguments on how best to approach this because we have a couple of options. + +Option 1. We buy a low-priced home, live and pay off as much as possible then move and rent it after 3 years. Then we use that passive income to start paying for the land and then it could help pay for our build. So once the forever home is complete we move in and now we have 2 rental properties helping financially. + +Option 2. We buy the starter home, save for a piece of land first then get a loan for the forever home. Once that is built we would rent out the starter home and maybe get more. + +Some of our goals are to bring generational wealth to our family, built a custom forever home, and be financially stable while doing this. So with all that said, would a Financial Planner help us decide which route is better. Do you have any advice? We want to ensure we are setting ourselves up for financial stability. + +&#x200B; + +**Update**: Thank you everyone for the advice. I did want to add that we could stay living with his mother but we are choosing not to because it's hard on our relationship. We are giving it the rest of this year but we are working hard to get things ready to move out. +Oh, Thetagang. What a home. I get to be the casino, while still seated at the casino. My wins, are wins. Not life changing, not life taking. My losses are losses. Not life changing, not not life taking. + +I dance with high IV tickers. Sometimes I fuck them, sometimes they fuck me. But I usually fuck them. But mostly just the tip. I never quite orgasm. I cum, but it’s a controlled ejaculation. Like the third take of a porn, where everyone just wants to go home. + +I will never drive a Lambo or eat Ramen. I will never lose my house or suddenly own a Penthouse. Theta trading does one thing no other trading can do, leave perpetual leftovers. You can never win enough, or lose enough. Just a constant state of… yeah, well, maybe, or not, or I don’t know, or whatever. + +Theta allows me to “actively” manage my portfolio, smartly, systematically, while still get a rush of “Jesus fucking Christ what the fuck did I just do” when I sell a put on MARA. + +It’s like jumping in the ring with Mike Tyson, but he’s got concrete feet and you get to duck and weave the whole fight. Eventually Tyson is going to hambone you, but not before you bleed most of his net worth dry by running up his credit card. Theta is like being best friends with Tyson’s cousin, eventually he’ll wonder where you found that fur coat but probably be too high to care. + +Anyway, it’s still scary, as scary as you want to make it… but so much more fun being in the ring vs being a spectator. And I have high cholesterol so Ramen doesn’t work. And my kid needs a dad, so yeah. Only option Theta - no pun. +Oh, Thetagang. What a home. I get to be the casino, while still seated at the casino. My wins, are wins. Not life changing, not life taking. My losses are losses. Not life changing, not not life taking. + +I dance with high IV tickers. Sometimes I fuck them, sometimes they fuck me. But I usually fuck them. But mostly just the tip. I never quite orgasm. I cum, but it’s a controlled ejaculation. Like the third take of a porn, where everyone just wants to go home. + +I will never drive a Lambo or eat Ramen. I will never lose my house or suddenly own a Penthouse. Theta trading does one thing no other trading can do, leave perpetual leftovers. You can never win enough, or lose enough. Just a constant state of… yeah, well, maybe, or not, or I don’t know, or whatever. + +Theta allows me to “actively” manage my portfolio, smartly, systematically, while still get a rush of “Jesus fucking Christ what the fuck did I just do” when I sell a put on MARA. + +It’s like jumping in the ring with Mike Tyson, but he’s got concrete feet and you get to duck and weave the whole fight. Eventually Tyson is going to hambone you, but not before you bleed most of his net worth dry by running up his credit card. Theta is like being best friends with Tyson’s cousin, eventually he’ll wonder where you found that fur coat but probably be too high to care. + +Anyway, it’s still scary, as scary as you want to make it… but so much more fun being in the ring vs being a spectator. And I have high cholesterol so Ramen doesn’t work. And my kid needs a dad, so yeah. Only option Theta - no pun. +I see a lot of posts asking for career advice based around optimizing high salary ($300k+) for a relatively normal working week (40-60hrs). I chose the business side of high growth tech to get there, and was thinking it would be helpful for those of us in that space to share their journey. + +For me it was an M7 MBA with FAANG internship that helped me to join a fast growing publicly traded company before they became well known, and I’ve ridden the equity growth since then. I’ve leveraged my (informal) business school alumni network for career guidance for big decisions and to find new roles. + +Those that are in a similar place, what helped you to get where you are today? +To keep this short. I was kicked out at a young age from a family of wealth. I didn’t understand how credit cards worked. I thought you spent however much and as long as you pay the minimum you will not accumulate debt..... well 7-8 months of maxing out my 4 cc and just paying the minimum I learned my lesson. + +15k in debt before graduating high school, homeless no hope no future. + +I worked 3 jobs because I wanted to go to college and I had to pay out of pocket. I didn’t qualify for any loans because my parents who lived in another country made to much. + +Fast forward 7 years. I’m married, consumer debt free, owe a little bit on a mortgage, and have a savings accounts! + +Anything is possible. Just keep going. +I have emailed eToro about my concerns. They reserve the right to do whatever the fuck they want to do with my positions whenever the fuck they want to do it. They of course assured me that they would close any position without my consent only under "extraordinary circumstances" but they refused to specify what does "extraordinary circumstances" mean even though I specifically asked multiple times. We all know what that means. They have already removed the buy button once, they will sell at the point of no return and fuck me again. + +I don't really see any other way but to sell what I have, buy on IBKR, and move to Computershare. I will sell the positions that are in the green and start the process. If anybody has a better idea, please tell me. I live in Europe. + +I will provide the emails to the mods if it is needed. + +Buy, hold, DRS. Dig in. This is a war of attrition. +What it says in the title really.. + +I read that you can buy bullion directly from the post office, and that it is not subject to CGT. + +With the price being relatively low atm, theres a good argument for buying gold / silver as an inflation hedge, and then selling if inflation happens, and stocks become cheap. Therefore I would see this as relatively short term investment. + +Obviously if you buy a physical gold etf it will be much more liquid than if you buy bullion, but you would be subject to CGT. + +How liquid an asset is bullion and how do you sell it securely? + +Thanks! +So this has been an ongoing problem, but just now something crazy happened. + +I changed my debit card with my bank after it was used to buy $300 worth of postmates. +Since changing it 2 days ago, I have never used it, never attached it to any payment service, it’s never seen anyone else’s eyes. +But yet again, more money was taken out for postmates. +How is this possible?? + +Multiple cards keep getting information. Stolen, and I don’t know how. +This is getting very frustrating. + +Btw I have no kids, and just live with my dog. No way it’s at my house. +No way +He's looking at BBBY and sees the value in the company and knows that the executive branch is basically robbing their shareholders by paying themselves more than they deserve, only to run the company into the ground and give up market share to Amazon. Now, he knows that the simplest way for them to turn around the company is to get a real CEO in there who also sees the value in the company and is willing to accept compensation via stock instead. Now if RC was to come out and call for the CEO to step down, that's more of a hostile approach and he may not be able to get other shareholders on board with that. However, he basically said that the executive branch is getting paid disproportionately higher than other similar companies with higher market caps. So he called for them to reduce their pay to be more in line with their current market cap. Now THAT's a message other shareholders can't argue with. AND what self respecting greedy CEO would subject themselves to a pay decrease? None. So there you have it, CEO steps down and puts himself back on the market for another company to hire him and he can drive them into the ground, and Bed Bath gets to appoint a new CEO who is motivated to transform the company and is maybe onboard with RC's other recommendations. And there you have it. Wombo Combo. Shorts r fuk. Ryan Cohen is my dad. +Discliamer: This is not financial advice and I'm not telling you to buy any of these stocks. This list is only based off PRICE. You'd have to look at other aspects of these stocks in order to determine if they're worth the investment. Just because they're down doesn't mean they'll certainly go back up to their pre-pandemic levels. Always do your own due diligence before investing. + +After some digging, I found these stocks that haven't recovered to their pre-pandemic levels: + +- CHR.TO (Chorus Aviation) + +- AC.TO (Air Canada) + +- VET.TO (Vermilion Energy) + +- SU.TO (Suncor Energy) + +- PPL.TO (Pembina Pipeline) + +- TRP.TO (TC Energy) + +- SWP.TO (Swiss Water Decaffeinated Coffee) + +- IVQ.TO (Invesque) + +- CGX.TO (Cineplex) + +- MRC.TO (Morguard corp) + +- MRT-UN.TO (Morguard REIT) + +- MRG-UN.TO (Morguard NA Residential REIT) + +- HR-UN.TO (H&R REIT) + +- REI-UN.TO (Riocan REIT) + +- D-UN.TO (Dream Office REIT) + +- HOT-UN.TO (AmericNn Hotel Income properties REIT) + +- CUF-UN.TO (Cominar REIT) + +- AP-UN.TO (Allied properties REIT) + +- MI-UN.TO (Minto Apartment REIT) + +- FCR-UN.TO (First Capital REIT) + + +Feel free to comment down ones that I missed and your thoughts on these stocks. + + +Edit - Added from comments: + +- ZWC.TO (BMO High Yield ETF) + +- ENB.TO (Enbridge) + +- ESI.TO (Ensign Energy) + +- CHE-UN.TO (Chemtrade Logistics) + +- ACO-X.TO (Atco) + +- CIX.TO (CI Financial) + +- IAG.TO (iA Financial) + +- FFH.TO (Fairfax Financial) + +- DIV.TO (Diversified Royalties Corp) + +- DE.V (Decisive Dividend) + +- SIA.TO (Sienna Senior Living) + +- SCL.TO (Shawcor) + +- PLZ-UN.TO (Plaza Retail REIT) + +- SRU-UN.TP (Smartcentres REIT) + +- CSH-UN.TO (Chartwell Retirement REIT) + +- IIP-UN.TO (Interrent REIT) + +- AX-UN.TO (Artis REIT) + +- BEI-UN.TO (Boardwalk REIT) + +- KMP-UN.TO (Killan Apartment REIT) +Discliamer: This is not financial advice and I'm not telling you to buy any of these stocks. This list is only based off PRICE. You'd have to look at other aspects of these stocks in order to determine if they're worth the investment. Just because they're down doesn't mean they'll certainly go back up to their pre-pandemic levels. Always do your own due diligence before investing. + +After some digging, I found these stocks that haven't recovered to their pre-pandemic levels: + +- CHR.TO (Chorus Aviation) + +- AC.TO (Air Canada) + +- VET.TO (Vermilion Energy) + +- SU.TO (Suncor Energy) + +- PPL.TO (Pembina Pipeline) + +- TRP.TO (TC Energy) + +- SWP.TO (Swiss Water Decaffeinated Coffee) + +- IVQ.TO (Invesque) + +- CGX.TO (Cineplex) + +- MRC.TO (Morguard corp) + +- MRT-UN.TO (Morguard REIT) + +- MRG-UN.TO (Morguard NA Residential REIT) + +- HR-UN.TO (H&R REIT) + +- REI-UN.TO (Riocan REIT) + +- D-UN.TO (Dream Office REIT) + +- HOT-UN.TO (AmericNn Hotel Income properties REIT) + +- CUF-UN.TO (Cominar REIT) + +- AP-UN.TO (Allied properties REIT) + +- MI-UN.TO (Minto Apartment REIT) + +- FCR-UN.TO (First Capital REIT) + + +Feel free to comment down ones that I missed and your thoughts on these stocks. + + +Edit - Added from comments: + +- ZWC.TO (BMO High Yield ETF) + +- ENB.TO (Enbridge) + +- ESI.TO (Ensign Energy) + +- CHE-UN.TO (Chemtrade Logistics) + +- ACO-X.TO (Atco) + +- CIX.TO (CI Financial) + +- IAG.TO (iA Financial) + +- FFH.TO (Fairfax Financial) + +- DIV.TO (Diversified Royalties Corp) + +- DE.V (Decisive Dividend) + +- SIA.TO (Sienna Senior Living) + +- SCL.TO (Shawcor) + +- PLZ-UN.TO (Plaza Retail REIT) + +- SRU-UN.TP (Smartcentres REIT) + +- CSH-UN.TO (Chartwell Retirement REIT) + +- IIP-UN.TO (Interrent REIT) + +- AX-UN.TO (Artis REIT) + +- BEI-UN.TO (Boardwalk REIT) + +- KMP-UN.TO (Killan Apartment REIT) +As of today’s market close, I surpassed 250K net worth. It’s been an arduous journey filled with a lot of suboptimal decisions made along the way but I’m very excited and blessed to have achieved such a pivotal milestone. I believe my story is worthwhile sharing and my ultimate goal behind this write-up is to add to the existing collection of stories shared here that detail how FIRE can be achieved despite one’s background or demographic. + +**Trials and Tribulations** +I grew up in a VHCOL location in a single parent household as my dad died when I was very young. This certainly had an impact on the financial stability of the household. Growing up, my mom leveraged many of the welfare programs such as food stamps and section 8 to help stay afloat. Unfortunately, my mom didn’t finish high school nor go to college. So not only was she a single parent, but a single parent with limited employment prospects and low income potential. All of this, coupled with a lack of financial literacy, resulted in my mom living paycheck-to-paycheck as she struggled to make ends meet. + +**The Inflection Point** +Growing up, my mom was determined that neither me nor my siblings would replicate her path. She is a shining example of a parent who wants the best for their kids and for their kids to live a better life than they did. From young, my mother always emphasized the importance of education and aspiring to greatness. I am eternally thankful to my mom for guiding me through my childhood and keeping me on the right path. My mom never had to beat these concepts into my head nor stay on top of me — I just “got it” very early on. I made good marks throughout primary and secondary school; got into my dream school on a full ride scholarship, where I continued to make good marks, and became the first person in my family to go to — and graduate from — college (a Top 10 Liberal Arts college); and hustled my ass off senior year of college to ensure that I had a full-time job lined up after graduation. + +**The Journey** +Before getting into my career details, I want to first acknowledge the fortune I had of graduating in 2014 — a time where the economy was healthily growing and long removed from the Great Recession and where the job market was bustling. These two factors certainly played a huge role in my ability to secure a job during the spring of senior year of college. I started my career at 22 where I worked at a small analytics firm. I had a quantitative major in college so that aided in me securing an entry level role at this analytics firm (shocking, I know). I had a decent time where I stayed for \~4 years and was promoted several times. After losing interest, I hopped jobs twice more before landing at my current company where I work in a hybrid analytics and consulting role. I truly enjoy my current role much more than any of my previous roles. However, the most jarring lesson in my career movement is how much my compensation has grown with external moves. At the end of my final year at my first company I made \~$96k. At my second employer I made $115k. At my current employer, I’ve made \~$180k so far (annualized) — and I still have one more bonus due before year’s end which will push me to about $190k-$195k total compensation. I would have ***never*** gotten this far this fast had I been at my first or second employer. I’m aspiring to break through $200k compensation next year, which should be achievable if the economy doesn��t crumble again. + +**Current Financial Situation** +As mentioned in the title, [my current net worth is $250K](https://imgur.com/p1XxQ9y). Since the start of my career I’ve been living at home, so that definitely has played a major role in my ability to save aggressively while living in a VHCOL. Here’s some context behind my net worth: + +* 401ks are in a mix of VFIAX and VIIIX; the rest of my net worth is in VTSAX +* 100% of my Roth 401k is funded via Mega Backdoor (no direct contributions) +* [I didn’t start investing in my taxable brokerage or maxing out my 401k, IRA, and HSA until 2019](https://imgur.com/jBSgu2x) +* Net worth composition: 47% taxable; 30% tax-deferred (traditional 401k); 22% tax free (Roth 401k/IRA, HSA); <1% risk stock (triple-leveraged ETFs) + +**Mistakes Made** +Firstly, I didn’t start investing (excl. 401k) until 2019 despite starting my career in 2014. In the early stages of my career, I was primarily saving cash as my goal at the time was to save for a down payment for a house for my late twenties/early thirties. In hindsight, even with that goal, I should’ve still been active in the stock market as my time horizon was far enough out (8+ years). Between June 2014 and February 2019 — the time I was out of the market — [the S&P500 grew \~46% with dividends reinvested and accounting for inflation](https://dqydj.com/sp-500-return-calculator/). As I didn’t start investing until March 2019, I missed out on some decent gains. My portfolio would probably be $100k higher (give or take) had I been in the market consistently since 2014. + +Secondly, I didn’t max out my 401k, IRA, and HSA until 2019. Looking back at [my salary history](https://imgur.com/vAap6l3), I could’ve been maxing these accounts out as early as 2015. But because I was so laser focused on saving for a down payment and lacked financial literacy, I ignorantly chose to heavy up on cash. This suboptimal move costed me thousands of dollars in lost tax savings. The only silver lining in all of this is that nearly half of my portfolio is in a taxable brokerage account — so that means I can easily access funds without having to entertain roundabout ways to access my money (e.g. 72t, conversion ladders). + +**Things that Didn’t Prove True for Me** +From youth to adulthood, I’ve been regularly told (e.g. family, the media) that “as a black man, you (will) have to work twice as hard in life.” But when I reflect on my life-to-date, I never felt this way. I just always knew I had to work hard, period. It was never a matter of working 2x or 3x as hard to achieve success. Early on, my mom instilled in me the confidence that if I dreamed big and worked hard, then I could achieve my goals. I have proved — and continue to prove — this to myself time and time again. Objectively, I can say that neither my race nor sexuality have been impediments to my success and ability to achieve at any point in my life. My drive, vision, and motivation have always been, and will continue to be, the basis of my achievements. + +**Future Goals** +I do NOT want to retire too early — I’m eying 55 as I truly do enjoy what I do work work and feel like I have a few more decades left in me, but also not trying to work into my late 50s or 60s. Short-term, I’m looking to hit $500K net worth by 30. I acknowledge that this is super aggressive but if things go business as usual (e.g. the stock market doesn’t go to shit) and my income remains at the level it is now, I’m confident that I can hit this target. Long-term, I’m targeting $5M-$10M net worth by 55. I acknowledge that this net worth target is aggressive and probably puts me more into baby fatFIRE territory. The two main reasons behind this aggressive target are (1) I want to live an extremely comfortable life in my retirement and don’t want to feel restricted and (2) I’m at the forefront of creating generational wealth for my family, which is currently nonexistent. I want to be able to leave millions (ideally) to my future kids (if I decide to have kids) or to my siblings and/or their kids. I want to keep the train running and I don’t want it to stop with me. + +Aside from myself, I’m looking to set my youngest sibling up for success early on. I’ve opened a 529 account currently set up for $1,200/year contributions for the next 5-7 years. Again, if the market acts business as usual, this should put the account somewhere in the ball park of $10k, give or take (unfortunately, I know this is just a drop in the bucket relative to how much more expensive college will be 5-10 years from now *sigh*). Additionally, I want to contribute to the youth — particularly black youth. Growing up in predominantly black, low income neighborhoods and now having “made it,” I know that I wasn’t the only black kid with a hard upbringing and a dream for a better life. There are many black youth out there who are smart, talented, and more than capable but just don’t have the resources or opportunities to optimize their success. There are two organizations in particular that align with this passion of mine that I have been involved in over the last decade through acts of volunteering, mentorship, and donations. I aspire to continue this for the rest of my life and leave a hefty portion of my net worth to these organizations upon my passing. + +**Realizations** +As I end, I want to share some foundational realizations I’ve made over the years, and especially more recently: + +* This journey isn’t a competition, thus I don’t have any competition. I often see comments like “you’re doing better than X% of the USA, the world, or your demographic” and they mean absolute nothing to me. My goals are *my* goals — they’re not impacted or influenced by others, regardless if I’m at the bottom or top of the pack for my demographic. I have a higher net worth than some 27 year olds and some 27 year olds have a higher net worth than me — either way, who cares? I’m not going to change my strategy or alter my confidence because I’m outpacing someone or someone is outpacing me. +* By the end of my life I would have made it through the lower, middle, and upper class: I’ve spent most of my life (\~80%) in poverty/lower class, currently middle class, and will end up upper class in a few years. Having a lived experience across all three classes is something that I imagine will end up strengthening my empathy, awareness, and compassion. +* America is truly the land of opportunity. While America is not perfect (no country is), I sincerely appreciate America for the opportunities it has provided me to elevate and make something of my life. It amazes me how starkly I’ve been able to turn my life around from youth to present. I appreciate this country deeply. +* While I worked hard, lived with intention, and had a vision to get where I’m at today, I 100% acknowledge that external factors (e.g. graduating during an economic expansion and not a recession, currently working at a company that hasn’t made layoffs, etc.) played a pivotal role in my success as well. I think of success as a pie chart: while one slice of the pie chart may account for a large percentage of the pie (e.g. work ethic), there are still multiple slices that make up the rest of the pie chart: dreams, visions, support system, timing, college, network, luck, etc. + Unlike a cat's 9 lives, many tokens are a 1 hit wonder. Pump, dump and forget. + +TacoCat Also TacoCat backwards is what you need in your altcoin portfolio **Now!** + +TacoCat's uniquely designed Taconomics, Experienced Marketing Team, TacoCat TEQUILA and dedicated community are going to make this token a winner. + +🌮 What are these unique Taconomics?😺 + +Like a Cat's 9 Lives there will be 9 % fees on Transaction + +♻️ 8% to liquidity pool ♻️ + +📈1% to holders 📈 + +This distribution into the liquidity pool ensures TacoCat remains stable and **will not be as volatile** as many other tokens. + +The max transaction amount of 0.25BNB Means **no huge sales can be executed quickly** which should prevent whale dumps and encourage accumulations + +♻️ Liquidity Locked: 50% for 6 months and 50% for 12 months. Locking confirmed & handled by well respected BogTools Dev Team. The liquidity donated by the community will be returned to the community at the end of those 6 and 12 month periods ♻️ + +**🌮 Wen Marketing?😺** + +Tacocat has a dedicated experienced marketing team in place pre launch. This team have been hand selected by the great marketing leader based on success in previous projects. + +Marketing Roadmap: + +1. Brand Establishment on Socials: Twitter/ TikTok/ Telegram +2. Early Partnerships - Aim for [bogged.finance](https://bogged.finance/) listing +3. Community Competitions +4. TacoCat Tequila Commission + +**🌮 Tacocat Tequila Wen?😺** + +Shortly after establishment the community will decide on a tequila blend / distillery. A custom batch will be ordered with unique branding and delivered straight to your front door! + +**🌮 Community - Antiwhale attitude😺** + +This token is the love child of a group of likeminded individuals who love Cats, Tequila, Tacos and BSC tokens with organic growth. The initial liquidity was made up from community donations (My donation was 0.042069 BNB). The launch was a FairLaunch with no presale. + +These 3 components along with an experienced, dedicated community are the key 🐋**Anti-Whale Ingredients 🧪** + +**This is a community that understands what is takes for a token to grow and be adopted. It requires:** + +1. **💎 Diamond Hands 💎** +2. **💪Community Effort 💪** +3. **👍 Good Vibes 👍** + +**Early adopters include some well respected BogBingus Community Bro's & Broettes. These guys know how to keep a coin on an upward growth.** + +**If you love all of the above then come join Team TacoCat, We look forward to our Journey together** + +[**Buy PCS ( set slippage to 9)**](https://exchange.pancakeswap.finance/#/swap?outputCurrency=0xA8fcEe78B782eF97380326E90DF80D72f025f020&inputCurrency=BNB) + +[**Trade on Bogged.Finance**](https://bogged.finance/trade?token=0xA8fcEe78B782eF97380326E90DF80D72f025f020) + +[**Chart**](https://charts.bogged.finance/?token=0xA8fcEe78B782eF97380326E90DF80D72f025f020) **📊** + +**Links:** + +**🌮** [**Telegram**](https://t.me/TacoCatCrew) + +**😺** [**Twitter**](https://twitter.com/tacocatcrew) + +**🌮** [**Website Tacocat.finance**](https://tacocat.finance/) + +**😺**[**Discord**](https://discord.gg/kwPG4edB) +Whatever the DTCC is doing with GME shares is illegal and we need to rise up as investors. We need to write letters. Please stop calling it “Ryan cohens’ trap”. It’s not a trap. Saying it in this manner makes it seem like Cohen was doing this in bad faith against the market. GameStop simply wanted to reward its shareholders with a dividend. If the DTCC now chooses to act in bad faith, then that’s on them, not on GameStop’s decision. Thank you for coming to my TED talk. +I know it’s been a hell of a week or so. High highs and crazy volatility and all manner of things. + +As apes do we hop all over, scream, and raise our hands to the great Cohen in the sky whenever anything comes down from the heavens. + +In our celebrations let’s not forget…this still has to be voted on and the snakes will turn out for it. + +How can you be sure your vote is counted properly and you get to vote? + +DRS + +You can still vote through some but not all brokers like we did last year. But having a middleman between your vote and GameStop is scary business these days. + + +So let’s not count our eggs before they’re in the basket. + +There is still work to do. Do the work. + +Edit: spelling +Do you write covered calls? Are you concerned when the underlying is bringing your short call deeper into the money? Are you content when the underlying dips, bringing your short call farther out of the money and, therefore, guaranteeing its worthlessness and your profit on it? You may be mismanaging it. + +The covered call is very counterintuitive when it comes to profit and loss. It has a misleading nature. It can make you think that you’re losing money, when you’re actually profiting; and vice versa, it can make you think that you’re profiting, when you’re actually losing money. + +A CC and a CSP are synthetically identical at the same strike. They are bullish on the underlying with short gamma. + +What’s the misleading nature of covered calls? + +- The short call becomes profitable when the underlying dips. However, the long leg of the trade (the shares of the underlying) incurs a loss. The loss from the long leg is greater than the profit from the short call. This nets in unrealized loss. +- If the underlying rallies, then the short call becomes more expensive to buy back, and thus shows a loss to you. The long leg of the trade, however, gains in value. The unrealized profit from the long leg is greater than the unrealized loss on the short call. This nets in unrealized profit. + +If you’re fixated on the short call of the CC, then you’re missing the bigger picture. I see many, many traders concerned with rolling a covered call up and out for credit during a rally, while not ~~doing the same~~ rolling down and out during a dip (as they would with a cash-secured put). + +The cash-secured put doesn’t lie to you like short-leg of a covered call does. The CSP tells you when you’re losing money and tells you when you’re profiting. + +To clarify, I’m not making a case for writing puts. I’m calling for a greater awareness to managing covered calls. + +If you’re rolling CSPs down and farther out in time during a sell-off, and you’re not doing the same to a CC, then you may be missing the complete picture your exposure on the covered call. + +If you’re rolling CSPs up vertically for net credit during a rally, and you are opposed to rolling the CC up vertically for a net debit in the same scenario, then you may be missing the complete picture of your exposure on the covered call. + +As always, remember the cardinal rule in options trading: + +***Know thy exposure.*** + +`AMENDMENT` + +Since ~~many~~ [some] complained about the ambiguity of this post, I’d like to clarify some implications from this when it comes to rolling. + +- If you write OTM CCs, then you’ll have an easier time rolling [up and out] for credit on a rally (as long as it doesn’t get away from you). Rolling for credit here lowers your breakeven point, reduces your gamma, and maintains your delta. It’s proactive management, because it’s nearly impossible to make up for intrinsic loss of the shares with extrinsic value of rolled-out OTM calls during a sell-off. +- If you write ITM CCs, then you can manage the CC like an OTM CSP, rolling outward during a sell-off. This is reactive management, as it’s easier to roll down an ITM call for enough credit to make up for intrinsic loss of the shares during a sell-off, than it is to roll it up for credit during a rally. +- If you write ATM CCs, then you can do either just as effectively [if not more effectively, because you have maximum extrinsic value at your disposal]. +Hey guys, one of our great writers Paul wrote a diddly on Dr. Burrys latest run in with the SEC. Here's an excerpt + +"About three times a year, I click to re-follow Dr. Michael Burry’s Twitter account. This is because he deletes his account about three times a year after tweeting something that I suspect he regrets. Recently the hedge fund manager that shorted the mortgage market before the financial crisis of 2008 has been tweeting and deleting up a storm. The topics are GameStop (GME), and general market and economic perceptions....." + +[Continued here on ChannelChek](https://www.channelchek.com/news-channel/Michael_Burrys_Tweet_and_Delete) +I m just wondering about the circle of competence. There is a difference in what you think you know and what you really know. I m trying to work on mine and i m just wondering what everybodys cycle of competence is and how did you get it / work on it? +&#x200B; + +You can find the calculator at: + +# [http://yourslrc.co.uk/](http://yourslrc.co.uk/) + +Firstly, I would like to extend my thanks to everyone whose been trying the website out, brought bugs to my attention and has left feedback. I want this tool to be as beneficial to everyone as possible and a big part of working towards that goal is making use of all of your feedback, it's a huge help! I really appreciate it. + +SLRC (Student Loan Repayment Calculator), is a site which aims to help you answer two important questions (among other things); How much your student loan will cost and whether you should try to pay it off. It does this primarily through the calculator on the homepage; you give it as much information as possible and it tries to predict how much you will end up paying in total before your loan is either paid off or written off. + +&#x200B; + +Based on lots of user feedback and research, in summary, the site: + +* Has been completely re-done +* Added the new Plan 4 loan for Scottish students +* Increased the number of contributions (voluntary extra payments) you can make towards a loan (and you can choose whether that's a lump sum or done over a period of time) +* Fixed many bugs, such as not being able to do a calculation if you graduated before 2006 +* Clarified the definition for each income bracket on the **Student Loans Explained** section of the site +* Added a new articles section (the intention is to write insightful and beneficial articles related to student loans and university) +* And made many other smaller tweaks and enhancements in both the web app and the API which powers it + +&#x200B; + +Some things which haven't been added yet but I would like to in a future iteration are things like: + +* The real cost of your loan taking inflation into account +* The opportunity cost of the money you're putting towards paying off your loan vs investing it +* At which income:debt ratio and income change trajectory it becomes more worthwhile trying to pay off your loan +* Repayments when living overseas +* Allow users to perform calculations with historic data (basically, calculations in the past) + +As always, I would love to hear any feedback around the changes, any issues you run into, any ideas you have etc. + +Thanks! +… a short interest of over 100 % + +… the resulting implication of naked shorts ( aka crime ) + +… the timing for the new formula of short interest + +… the removal of the buy button for retail only + +… that noone got punished for this mess + +… the painful congressional hearing with all it‘s professional incompetence , and missing the topic by talking about GaMiFiCaTiOn + +… the self-presentation by politicians and celebrities like they would care + +… the sheer amount of bots spamming tickers like popcorn + +… the SEC reporting that the sneeze was due to retail sentiment, not shorts covering + +… the ridiculous spike in puts, especially DOOMPs + +… the brazilian puts + +… Melvin saying they closed their positions, loosing money and closing the fund nevertheless + +… all the shit talk by MSM + +… the late february 21 pump, the March 10th flash crash, both not being caused by retail + +… DFV being an absolute legend + +… Dr. T and Criand explaining why DRS matters + +… Apes not leaving + +… the rest of the world leaving, treating it as a „whoopsie“, not concerned about the inner workings of financial markets + +… that every god damn short seller is a buyer one day + + + + +What‘s something you still remember that should never be forgotten ? +Apple was hoarding cash through the market peak. According to their last balance sheet, they're sitting on $40 billion. Who do you think they'll buy first? Delta becomes iFly? +https://www.housingwire.com/articles/ginnie-mae-unveils-40-year-mortgage-term-for-issuers/ + +I'd heard about this plan getting pitched around and it looks like it's on the way. If anyone has more detail I'd love to hear it. + +But my understanding is that people, especially those who deferred payments due to Covid, can basically refi the total remaining loan, including outstanding balance, into a 40 year mortgage. + +So if you were planning on everyone behind on their mortgage to cause a dip, you're likely sh!t out of luck. + +I'm curious if they're will be a new 40 year loan option though for all loans moving forward, especially as interest rates rise. I'd assume yes since the government is determined to control the market. + +Just ride the waves my friend, don't fight the current. +I cheer the economy reopening but I doubt we are out of the woods already. + https://www.cnbc.com/2020/05/26/stock-market-futures-open-to-close-news.html +On today's call with "We the Investors" Gary Gensler told us that this is interesting and that he's lookin' in to it! + +On the bright side, Gary Gensler did say that today's call would be entered into the official record of the SEC. + +Other Bright sides: +1) We got the SuperStonk mentioned. +2) We got the Jungle mentioned. +3) We got DRS mentioned. +4) Gary Gensler provided us with a way to create our own proposals. (Further research needed.) +Been a while since I got myself the American Express Platinum Charge Card. The annual fee here in India is ₹60,000 + GST, coming to a total of ₹70,800. The card is made of metal yet the back is plastic to enable contactless payments. + +Fixed Benefits / Perks / Pro’s +1. 4 add on cards at no additional cost. All add on members get access to hotel memberships listed below. +2. Marriott Bonvoy Gold Membership +3. Hilton Gold Membership +4. Shangri La Golden Circle Jade (now discontinued) +5. Dining Benefits at prominent 5 star properties. +6. Access to Centurion lounges +7. Priority Pass ( for basic and 1 add on card member) +8. 5x Reward Points on transactions done through Reward Multiplier +9. ₹10,000 Taj Voucher sent as a birthday gift. +10. Complimentary Meet &amp;amp; Greet Service at Delhi Airport for domestic departures, once a quarter. +11. Home Repair Credit - upto ₹1,200 per calendar year. +12. 3x Membership Reward Points on forex transactions. +13. Fine Hotels & Resorts - Early check in, late check out and spa / food credit at select properties across the world. + +Offers I’ve received and used since in this calender year- + +1. ₹27,500 cashback on transactions at Flipkart, Croma and a few other notable merchants. + +2. ₹2,500 *3 salon cashback offers at participating Truefitt &amp;amp; Hill outlets + +3. ₹2,500 *2 App Store / Google Play Store cashback offers + +4. ₹2,250 *2 Lakmé Salon Cashback offers + +5. ₹30,000 cashback offer on Flipkart, Croma and a few other notable merchants + +Note : All these were 100% cashback offers + +6. 50% cashback upto ₹500 when transacting with small business, minimum transaction amount - ₹1,000 (5 times per card) + +7. ₹30,000 Taj Voucher on making domestic travel bookings of over ₹1,00,000 with the travel desk. + +8. 50% discount on suite bookings at Oberoi Hotels made through the travel desk. + +Cons : + +1. 3.5 % forex markup (most premium cards are between 1 to 2 percent) + +2. Concierge is a huge let down. They fail to call back most of the times and can never get you inside a fully booked place. + +3. Poor dining benefits for a card of this level. Earlier, AMEX used to have offers like a free bottle of wine at nice restraunts but now it’s just a fixed percentage of discount which one can mostly always get with some dining memberships, either EazyDiner or DineOut. + +I got 1,10,000 Membership Reward points as a sign up offer and happily took it. Will I renew it? Depends on the retention offer. +The Bonfire has been lit. + +This coin has absolutely crazy moon potential. + +It's a community-owned token. Rug-pull proof (ownership-renounced, liquidity burned). + +It has hit up to $25M in just three days + +Only three days old, the community has responded in turn already paying for a PooCoin ad and are currently looking at getting a billboard in Times Square. Seriously, they got a quote for $5k already. + +Dedicated wallet with donations that have already reached $10k, donated by the community within 12 hours! + +It's still super early, and has potential to go up to $100M market cap by TOMORROW. + +Most big whales have already dumped, and now we are more community based and PUMPING! + +I got my bag. Will you? + +Sitting by the comfy bonfire ;) + +Website - [www.bonfiretoken.co/](https://www.bonfiretoken.co/) + +Telegram - [t.me/BonfireTG](https://t.me/BonfireTG) + +PancakeSwap - [https://exchange.pancakeswap.finance/#/swap?outputCurrency=0x5e90253fbae4dab78aa351f4e6fed08a64ab5590](https://exchange.pancakeswap.finance/#/swap?outputCurrency=0x5e90253fbae4dab78aa351f4e6fed08a64ab5590) + +Chart - [https://poocoin.app/tokens/0x5e90253fbae4dab78aa351f4e6fed08a64ab5590](https://poocoin.app/tokens/0x5e90253fbae4dab78aa351f4e6fed08a64ab5590) + +Our own subreddit - [https://reddit.com/r/BonfireToken/](https://reddit.com/r/BonfireToken/) + +Twitter - [https://twitter.com/token\_bonfire](https://twitter.com/token_bonfire) + +BSCScan: [https://bscscan.com/token/0x5e90253fbae4dab78aa351f4e6fed08a64ab5590](https://bscscan.com/token/0x5e90253fbae4dab78aa351f4e6fed08a64ab5590) +MoonBud is a deflationary charity memecoin that aims to make a difference. I cannot express how excited I am to be a part of this community, with over $100K raised in just a couple of days, and with a donation to one of the largest dog charities in the UK already underway! Everything from the community to the developers has been absolutely amazing, as they're very friendly and EXTREMELY transparent/active.\\ + +&#x200B; + +Telegram: [https://t.me/moonbudofficial](https://t.me/moonbudofficial) + +&#x200B; + +They have JUST RELEASED their NEW WEBSITE! It's pretty sick. + + Check it out HERE: [https://moonbud.space](https://moonbud.space) + +&#x200B; + +Check out this AWESOME THEME SONG that one of the community members wrote! + +[https://www.youtube.com/watch?v=HShYkiuqcVE&feature=youtu.be](https://www.youtube.com/watch?v=HShYkiuqcVE&feature=youtu.be) + +&#x200B; + +So, what is MoonBud, exactly? + +&#x200B; + +Like I mentioned, it's a deflationary memecoin with a 5% burn on every transaction. 2% gets redistributed to holders, 2% gets sent to the charity wallet, and the remaining 1% get burned forever. So far, 10% of the total supply has been burnt already! AND THAT'S JUST IN ONE WEEK! + +&#x200B; + +Yes, you heard me right, this coin's been out for only a week and they've already managed to raise over 130 thousand dollars for a charity donation - and that's with an ABSOLUTELY TINY MICROCAP of 2.5 million dollars! If you ask me, this is THE moonshot everyone's been looking for. Coins with 10X the MCAP of MBUD make 10-20k donations. THIS IS A 130K USD DONATION! (100k in GBP) + +&#x200B; + +Furthermore, the developers are keen on expanding their existing partnerships and are heavily working on marketing efforts to spread the message of MoonBud: to be THE community token that makes a difference. This token has already been noticed by some of the bigger TikTok influencers and YouTubers - you sure you wanna be left behind? + +&#x200B; + +One last thing about the seeming un-ruggability of this token: + +1) The liquidity has been gathered in the presale and all LP tokens have been locked for 1 year + +2) The dev tokens have been locked for 3 months + +3) No pre-mined tokens or other funny business + +4) The developers are ABSOLUTELY AMAZING! + +&#x200B; + +So, are you sure you wanna be left behind! See you on the Moon, Moonbuddies! + +&#x200B; + +Oh, forgot to mention: MAKE SURE you use PancakeSwap V1 to buy this instead of V2. Most tokens are broken right now and the team cannot migrate liquidity because it's locked. Peace! + +&#x200B; + +\---------------------------------------------------------------- + +&#x200B; + +TOKEN DETAILS: + +&#x200B; + +Total Supply: 1,000,000,000 + +&#x200B; + +Presale Tokens: 425,000,000 + +&#x200B; + +Marketing Wallet: 25,000,000 + +&#x200B; + +Dev Wallet: 50,000,000 (Locked for 3 MONTHS) + +&#x200B; + +Liquidity: Locked for 1 YEAR + +&#x200B; + +Market Cap: $2.5 MILLION + +&#x200B; + +Holders: \~5000 + +&#x200B; + +Contract (PancakeSwap): 0xbe8183612f145986a41ad8e8fcfefed1c2f9deba + +&#x200B; + +BUY HERE: [https://v1exchange.pancakeswap.finance/#/swap?outputCurrency=0xbe8183612f145986a41ad8e8fcfefed1c2f9deba](https://v1exchange.pancakeswap.finance/#/swap?outputCurrency=0xbe8183612f145986a41ad8e8fcfefed1c2f9deba) + +&#x200B; + +\---------------------------------------------------------------- + +&#x200B; + +USEFUL LINKS: + +&#x200B; + +Website: [https://moonbud.space](https://moonbud.space) + +&#x200B; + +Telegram: [https://t.me/moonbudofficial](https://t.me/moonbudofficial) + +&#x200B; + +Twitter: [https://twitter.com/MoonBud\_Coin](https://twitter.com/MoonBud_Coin) + +&#x200B; + +Audit Report: [https://solidity.finance/audits/Moonbud/](https://solidity.finance/audits/Moonbud/) + +&#x200B; + +Live Chart: [https://charts.bogged.finance/?token=0xbE8183612F145986A41ad8e8fCFefED1C2F9dEbA](https://charts.bogged.finance/?token=0xbE8183612F145986A41ad8e8fCFefED1C2F9dEbA) +Ok we seriously need a place where we can all learn where to go and how to keep our wealth till we can get our minds straighten and our emotions under control post MOASS, i keep book marking all the post i come across that are educational in this matter but the flair is to wide and most of them repeat themselves since there isnt a base where to build this subject, I'm a engineer by trade not and accounts, banker or anyone who works with money and I'm sure a bunch of us are in the same situation, the last thing we want is vultures taking away our precious tendies and seeing apes loose it all for lack of KNOWLEDGE. + +Eddit:Wow the engagement is serious on this subject i knew i wasn't the only one scratching it's head on this matter. +For the record I'm not asking for fanancial advise but rather awareness as to where to start searching and asking the right questions, just as many great wrinkle brained apes thought us how to do our DD and where to look for info so i hope this gets the same. + +Edit: thanks for the awards, i just hope we can get something that can benefit us all post this one event in history. + +Edit: for those apes who don't like to see post like this i can understand where they come from but right now we have time to educate ourselves infact we should be doing the +" BUY HOLD VOTE and LEARN" +Because I personally feel when this things burst i won't be able to learn for a few weeks or maybe months and I'll feel drown and overwhelmed with what to do. + +Edit: mod contacted. +So I’m new to investing and I have studied corporate finance/ Financial management but I can’t understand how to use that knowledge for picking up good stocks. So if any industry veterans or active market participants can share their insights on various methods and techniques that they use to pick value stocks and explain them a bit (conventional or not) it would be of great help. +My internship for software programming offers 401K matching up to 6% of my pay per pay period, but the recruiter said that most student interns do not contribute. Would you suggest me contributing? My main issue is what happens if I choose to leave the company once I graduate? I am currently a sophomore looking at two more years of school at least, so I am assuming I will be at this internship for that long. This internship also provides the opportunity for full time work post graduation, however, I am not sure if I would accept considering I haven't started my work just yet. + +EDIT: Thank you all for the overwhelming and seemingly unanimous reply to my question! I'll be sure to set up the 401K matching at my internship when I get started this summer. +Good morning, afternoon, evening and night to all international apes, welcome back to another episode of dumb money where nobody here can read but they blame us when hedgefunds bleed. + +3 months ago I made a post about what I expected to happen with the USD and how the FED would behave and how it would impact the markets and after some time I felt it was right to update that post and to see how my prediction/DD has played out as everyone as it is very easy on reddit to become an echo chamber so I encourage intelligent debate and also hilarious comments. + +I will try and keep this short and sweet so if anything doesn't make sense feel free to comment/message me or maybe it's worth reading the original DD to get more context on topics covered. I previously talked about how the bond market dictates what the fed does and predicted that trend to continue. + +**The 2 year treasury yield vs Fed Fund Rate - 3 months ago.** + +https://preview.redd.it/u9gqrmah6bl91.jpg?width=1168&format=pjpg&auto=webp&s=939273be2b5bc3c149b087aa0fc46059506ee0bf + +**The 2 year treasury yield vs Fed Fund Rate - now** + +https://preview.redd.it/i5nroiz67bl91.png?width=1168&format=png&auto=webp&s=97734c33e406d5fd0c9ff4376b7df3b37a58430b + +This was an easy one to predict as this is what the FED always does. The real talking point here is when you zoom in.... + +https://preview.redd.it/zuyc6anq7bl91.png?width=1168&format=png&auto=webp&s=4c6fc639b62b4ee00f4336080b1ce20f699850b7 + +The two year has continued to push higher currently at 3.45% indicating that the bond market is expecting things to get worse especially when you compare that to the 10 year at 3.15% The FED fund rate is currently at 2.33% but last time it was over 2.5% the US/global economy almost went into a global recession and rates had to be dropped to stop the bleeding and then the pandemic hit which allowed the can to be kicked to the moon, but we may be on the verge of seeing that can come crashing back down to earth. The next fed meeting is later this month so we are due a rate hike to take it over the 2.5% threshold and possibly over 3%. + +&#x200B; + +**M2 vs The Market - 3 months ago** + +https://preview.redd.it/z33ugmxvbbl91.jpg?width=1830&format=pjpg&auto=webp&s=fcedb9466c99b9f8b93a3f404b9373e365f01f05 + +**M2 vs The Market - now** + +https://preview.redd.it/k6py8tdrbbl91.png?width=1562&format=png&auto=webp&s=f880fd2acebbec2c5b39ee579e21377224e3d5aa + +I feel like this update really shows just how aggressively they are raising rates and really just how much of a big deal this next rate hike will be, I'm sure all clickbate articles will lead with something like "fed hikes rates to highest levels since 2008" which although true, the full story of that is they were on the way down at that point from a high of 5.25% set in 06. So anyone you know who has some dog shit loan/mortgage that's packaged as retail friendly because the repayments are lower, or down payments are lower are about to get bent over. + +&#x200B; + +**M2 x SP500 x USD - 3 months ago** + +https://preview.redd.it/7akon2d7ibl91.jpg?width=1834&format=pjpg&auto=webp&s=4c3007964ca88d1233f286e63f9a4be73e8846a7 + +**M2 x SP500 x USD - now** + +https://preview.redd.it/0kgtxqdribl91.png?width=1562&format=png&auto=webp&s=00ca86b185eecdd42adba4adb761fe3bffe15f40 + +Now I expected the M2 to be reduced quite a bit more by now so the USD mooning this much already is pretty fucking terrifying The USD is already at a 20 year high, it's suprassed the EURO twice already and may even get close with the GBP. This is going to lead to more countries defaulting on debt joining a growing list which I've seen called a few things, The Debt Bomb or The Big Default as it's 2022 and we don't want to label I'm just going to say it's fucked mate, here's the list; + +Lebanon, Sri Lanka, Russia, Suriname, Zambia, Belarus. China is constantly on the verge and with the cost of living crisis ***(not a joke that is actually what it is called, guess they couldn't market the cost to fucking breath)*** sweeping european countries many others will follow and we know the US is in a recession if they want to address it or not is a whole other issue. + +&#x200B; + +[ Using 1,000 basis point bond spreads as a pain threshold, analysts calculate $400 billion of debt is in play. Argentina has by far the most at over $150 billion, while the next in line are Ecuador and Egypt with $40 billion-$45 billion. ](https://preview.redd.it/42k2he7nlbl91.png?width=752&format=png&auto=webp&s=88e397e4e2e0f4730161aa000e1abdefbace8f81) + +**BONUS TA ON THE USD** + +https://preview.redd.it/3psifba7mbl91.png?width=1563&format=png&auto=webp&s=56369564d6e9b0ecbd3435a40872b2808f843d51 + +Huge cup and handle on the USD that is indicating to me that the USD has a lot higher still to go. This is only going to cause more havok on the global economy. For those who are unsure why a strong dollar is bad for the rest of the world. The dollar is the global reserve currency so most countries exchange in USD, if you borrowed at the lows shown here in the chart and now have to make repayments now the USD is up roughly 22%, to keep this simple the best case scenario for you here is your repayments now cost you 22% more, this doesn't factor in any additional change in valuation of the native currency which will likely have decreased as well, meaning repayments are even higher. + +&#x200B; + +**M2 Growth Vs Inflation - 3 months ago** + +https://preview.redd.it/wwto2nknobl91.jpg?width=1734&format=pjpg&auto=webp&s=9712851e5e475d1a5de182f120c50c8ebc7d85cf + +**M2 Growth Vs Inflation - Now** + +https://preview.redd.it/rwqutbevobl91.png?width=1749&format=png&auto=webp&s=c992fb055a371b5b8adde3bd2e86ddab9ee82cff + +We have now had our cross over but M2 still has to drop and inflation is likely to decline before pushing much higher, if M2 is not controlled the US is at serious risk of hyperinflation and they aren't making enough progress to stop that. + +&#x200B; + +In closing... + +&#x200B; + +https://preview.redd.it/3ygvv7kzpbl91.jpg?width=1170&format=pjpg&auto=webp&s=36d4540e9a2b2bfa2586fe0a178338f888aad3bb + +Last time I was asked what is the relevance of this type of post when this is a GME sub and while there is no direct relationship with the USD and GME I draw comparisons to this situation and 2008 with VW. + +&#x200B; + +https://preview.redd.it/eve493brrbl91.png?width=1562&format=png&auto=webp&s=0a4e5cb8a20f4e9bf2ecf76b50dd047ecc0f615b + +I'm interested to see what will be the catalyst for the squeeze there are many ways for things to kick off that's why I'm happily working my way to becoming an XXXX holder but the reason I pay attention to the bigger picture is simple for me, the mother of all crashes and the mother of all short squeezes will come hand in hand and every day they get a little closer. + +&#x200B; + +Power to the motherfucking players. +After studying so many different strategies I’ve seen that the difference between profitable and not comes down to strict discipline and R:R ratio. I began to wonder today, do you think a trader could be profitable with simply flipping a coin given hard discipline? Just a funny thought I had today I wonder if this could be backtested. Heads for long tails for short might lowkey preform better than a lot of TA 😂 +I’m wondering because I’d like to borrow $50,000 for a down payment, sell my house, then pay the $50,000 back, but everyone is saying to just accept it as a gift. What if I do accept it as a gift and then gift it right back 3 months later? Would I have to pay taxes if I gift it back? Will the IRS be mad at me? +**TLDR**: Public Short Interest is about to be overshadowed by the DRS pool's total. The door out of the burning building is starting to slam shut. It'll be on paper how many apes are committed who just like the stock. Publicly shorting hedge funds and retail shorts will see this, get scared, and close their positions, price increases, leading to hidden shorts to **CLOSE** THEIR SHORT POSITIONS, leading to MOASS and tendies. (Scroll through for pictures!) + +[Edit: Putting this at the top for visibility!](https://preview.redd.it/rnu8yl3645091.png?width=546&format=png&auto=webp&s=cdd6e354c089cf6ee1134ca26aac15a5addf5761) + +&#x200B; + +[ Four 250mg Rockstars, 0 hours of sleep, and 0 hours of studying for my exams. But at least the DD is written. Also AutoMod took down my post 3 times, and I had to redo all the formatting and readd all the images\/gifs :\(](https://preview.redd.it/k47tpq9rc1091.png?width=955&format=png&auto=webp&s=605be49ed85f9017f303d2852507bb4fdc57c8c1) + +I recommend you play this song before reading, it makes me bullish, maybe it'll make you too, [Youtube - Alive by Zeds Dead](https://www.youtube.com/watch?v=QGgrYaamZqc) + +Once you got it going, take a look at these photos + +&#x200B; + +[ On MarketBeat, you can find the public GameStop short interest. As of April 30th, 2022 the \\"total\\" shares sold short was 13,540,000 shares. ](https://preview.redd.it/00ob9zisc1091.png?width=501&format=png&auto=webp&s=c176c64914b2e7b1b61f8c095557c8c8b5d42572) + +[ On Fintel, this figure is 13,540,994 shares. ](https://preview.redd.it/1olrksatc1091.png?width=317&format=png&auto=webp&s=bf454b174f89a8ea4117d416698f110a95aa6990) + +[ On ComputerShare.net you see that the DRS pool is roughly 12,507,016 shares. This estimate is accurate as it was a few percentages off calculating\/predicting the 2021 Q4 results. ](https://preview.redd.it/sb2o8d8vc1091.png?width=438&format=png&auto=webp&s=a43b8cac622106139bd6072012692eb96ce1efee) + +# Okay, so what? + +These numbers mean we're close to a **major turning point** in the GME story. What you're about to witness is undeniable proof of why diamond hands get their name. When on paper there are more shares locked away than public short positions, that's when the game changes. That's when the exit starts closing. + +# It's a major turning point because it's a symbolic moment that victory is in view, and the numbers will be an undeniable fact. + +&#x200B; + +[ Let those Jolly Rogers FLY! ](https://i.redd.it/pnn4knexc1091.gif) + +**It's a huge line to cross**. Enough GME holders have had enough of brokers and took their shares into their own hands. Diamond hands independently choose to hold their shares away from the DTCC. Those who believe in the future of GameStop, GMErica, and GME's NFT marketplace. They know their shares are worth more than the price on their phone. So many in fact, **it rivals the ENTIRE public short interest.** + +[ I'm NOT LEAVING! Are you?](https://preview.redd.it/1s6urfq0d1091.png?width=1849&format=png&auto=webp&s=555c2e6d40684a8c1dff16a928548a07cfc884dd) + +# Let's break it down. + +* \# of shares dedicated to holding through CS, will soon be > # of shares being sold short + * This data **will be publicly available** with each earnings report + * You know this, the shorts know this, your dad can google this. +* \# of shares in brokerages > # of shares in CS + * The data on the total # of shares in brokerages **isn't publicly available.** + * We know this, but retail shorts/short hedge funds MIGHT NOT believe this + +Now keep that in mind. + +* Manipulation through creating shares through ETFs, retail buy flow to dark pools, etc are **RAMPANT**, and **can't be stopped because**... +* Short hedge funds (SHFs) won't close until they **absolutely have to**, spending tens if not hundreds of millions to protect themselves. However... +* Retail shorts and smaller short hedge funds **don't have the same protections**. + +&#x200B; + +# Now, what does this mean? + +When on paper, diamond hands > public short interest, it will be an undeniable fact that the DRS crowd is serious. Serious enough of a problem that it might just start the race for the exit. The numbers will be public information, every SHF and retailer short will see how big the pool against them is. They'll certainly do the math. + +[DRS is close to overtaking open \(public\) short positions. \<8&#37; away](https://preview.redd.it/nt89ca64d1091.png?width=324&format=png&auto=webp&s=a7b599fe8b0b0215a7d7bcc4edf2e4577c4aea41) + +# Let's do the math too, shall we? + +* The free float is **34,693,673 shares**, DRS is estimated to be **12,507,016 shares**, and the total shares sold short (publicly) was **13,540,000 shares** on April 30th, 2022. +* **Free Float - DRS** = **22,186,657** shares available for public shorts to close their positions with. +* **22,186,657** \- **13,540,000** closing their short positions = **8,646,657** shares left over. +* That's **8,646,657** shares left for the hidden shorts to close their positions with. + * This doesn't even include apes in brokerages and especially IRAs, who'll refuse to sell. + +[ Here's a graphic I cooked up in Photoshop for the smooth apes who need a visual. THE EXIT IS SHRINKING. ](https://preview.redd.it/26b77356d1091.png?width=817&format=png&auto=webp&s=fa2a92f0ee9290e66def0f2ed26a0c8c3914abd6) + +THAT'S the door out of their short positions, the only way out of the burning building. + +**8.6 million shares.** + +Decreasing daily. + +No other escape, only that many shares. + +&#x200B; + +[ Tick Tock Hedge Funds. ](https://i.redd.it/qwqbkdo9d1091.gif) + +[ AND THE RACE IS ON! ](https://i.redd.it/z00vvtmbd1091.gif) + +# Now that we know the SHF's are scared, what else should they be afraid of? + +1. NFT marketplace + +* To be released by end of Q2, which [~~ends on June 30th~~](https://fundsnetservices.com/quarter-q1-q2-q3-q4). **Correction: Ends on July 30st.** (in less than 76 days) +* GME's Marketplace [will dominate the NFT space](https://www.reddit.com/r/Superstonk/comments/rcsqzy/comparing_openseas_nft_marketplace_to_gamestops/) + * The current largest NFT marketplace OpenSea is worth [$13.3 billion](https://www.bbc.com/news/technology-59880739) + * OpenSea costs [$70 - $300](https://www.alphr.com/opensea-mint-nft/) to sell an NFT. +* Loopring's Chief Architect's Dune page shows each transaction costs $0.16 + * Source: [Loopring Analytics Dune page](https://dune.com/Brecht/loopring) +* Therefore, GameStop's marketplace will be cheaper, as it's powered by L2 Loopring. + * Loopring has transaction fees "[1/30 - 1/100 of the fees on the Ethereum mainnet.](https://loopring.io/#/)" + * People will naturally move to the cheapest option. + * Plenty of room to grow in a "$41 billion addressable market" \[2022 Proxy Statement, letter from CEO Matt Furlong\] +* [GameStop's NFT wallet](https://uspto.report/TM/97327053) will launch soon + * Could overtake MetaMask as the most used NFT wallet\~\~, as it has access to L2 and L2 fees\~\~ + * **Edit: MetaMask does have access to L2.** + * If the features and UI are vastly better, I could see developers switching to it. +* This is all SHF nightmare #1 + +&#x200B; + +2. [Annual Share Holder Meeting; Stock Split](https://investor.gamestop.com/static-files/69239be2-1b34-444e-b981-ad69b586cedb), possible Catalyst Announcement + +* Announced in the 2022 Proxy Statement, to be on June 2nd, 2022 (in 15 Days) + * "Our Board intends to approve the Stock Split, subject to and contingent upon stockholder approval and the effectiveness of the Authorized Shares Amendment" +* The annual meeting is voting to increase the number of authorized shares of our Class A Common Stock (the “common stock”) to 1,000,000,000 + * The Stock Split ability goes from 1:3 to 1:13, multiplying shorts positions at the same time + * The Stock Split is distributed through an stock dividend, forcing shorts to buy shares to cover the dividend shares. + * The Dividend might be in the form of [NFT dividend](https://www.reddit.com/r/Superstonk/comments/upw4x7/the_stock_dividend_is_going_to_crush_shfs_and_i/) + * The Stock split is distributed through an stock dividend, forcing shorts to buy shares to cover the dividend. +* Possibility of a bullish announcement, unexpected good earnings (especially while they are focused on spending capital on expanding), etc +* This is SHF nightmare #2 + +&#x200B; + +3. Shorting GME and decreasing the price leads to accelerated DRS + +* Back to that closing door metaphor. The more they are short, the smaller the door gets. + * Shrinking free float by DRS + * Creating more short positions to cover/eventually close. They are digging themselves into a deeper hole. +* Dropping GME from let's say \~$90 to \~$45 would allow dip-buying apes to **TWICE** their pace. + * Drop it too low, the stock gets to be oversold, DRS bulls rally once again! + * Allow it to rise too high, risk margin calls +* This is SHF nightmare #3 + +[ The bricks to financial freedom. BRICK BY BRICK! ](https://preview.redd.it/lwm4piiqd1091.png?width=292&format=png&auto=webp&s=3bfedf824c1c0b438d9f42237c0a5745692b9b91) + +# + +# Now here's how I see the GME story continuing. + +Any number of GME catalysts kick off, then the price starts to run... + +* Scenario 1: Small shorts don't close, more shorts pile on, and big shorts don't close + * Result: Public short interest increases, float left for hidden shorts gets even smaller +* Scenario 2: Small shorts start to close, short interest decreases, and big shorts don't close + * Result: Price increases, hidden shorts burn more, float left for hidden shorts to close increases +* Scenario 3: Small shorts close quickly, short interest decreases, big hidden shorts start closing + * Result: The Mother Of All Short Squeezes + +&#x200B; + +[ The door is coming to a close, who'll close first? ](https://i.redd.it/purb3zlsd1091.gif) + +and that's it! Thanks for reading my DD. + +|Hours Slept|Bullish Meter|Tiqtes| +|:-|:-|:-| +|0|140%|JACKED| + +**Keep reading for community shout outs, some bullish reminders, and some notes/PSA.** + +&#x200B; + +https://preview.redd.it/8ocnf5qtd1091.png?width=1432&format=png&auto=webp&s=c6e4639ff7d8f04b75dc8367ae33229dcb24cf44 + +1. u/Roid_Rage_Smurf for building and maintaining DRSBot! What can I say besides they're the best! +2. u/phillythebeaut, u/Knightsbridge_1896, u/No-Vacation-654, u/SimpleJack2021, u/WrongScratch from the DRSBot Witness Squad. They volunteered to manually verify large DRS posts, remove fakes/trolls, and [keep the whole thing chugging along](https://www.reddit.com/r/Superstonk/comments/u5g6fe/perspective_of_a_drsbot_witness_featuring_my/). I've never worked with a better team. <3 +3. u/jonpro03 for running [ComputerShared.net](https://ComputerShared.net) and their Reddit scraper to automatically log DRS posts. Their calculations were spot on for the Q4 2021 Earnings. +4. u/stopfuckingwithme who tracks the "ComputerShare New High Score Winner", this high score can be converted by removing the last number to reveal the number of ComputerShare accounts. They've been [doing it for close to 8 months](https://www.reddit.com/r/Superstonk/comments/ptwr2g/comment/hdzz2nz/?utm_source=share&utm_medium=web2x&context=3)! +5. u/derhyperschlaue and u/millertime1216 for stepping up and creating [DRSGME.org](https://DRSGME.org) to help new apes learn the ropes from scratch. +6. u/Pharago who posts the "Today's the Day!" starfish every morning. +7. u/superheroninja who posts the GME 100% Utilization daily posts! +8. u/mr_boost for Ape News Network! This ape's commitment is inspiring! +9. u/One_Eyed_Bandito for the red/green image daily posts. +10. u/Elegant-Remote6667 for creating [ApeHistorian.com](https://ApeHistorian.com) to backup all the Due Diligence. +11. On YouTube, Elliot Wave Guy u/possibly6 for his technical analysis. It's nice to just hear what he thinks. +12. On YouTube, CosmicLightningWarrior for his bullish and hilarious live streams about GME. +13. All the daily posters and active commenters who keep the subreddit going and hyped! +14. The apes who post the "so hot rn" meme, they make me laugh. +15. The apes who post the dancing cat with the bongo music guy, which makes me dance. +16. THE MODS! Thank you for holding down the fort for so long! Couldn't do it without you all. +17. Especially shouting out all the DD writers, researchers, and wrinkled apes. <3 + +&#x200B; + +&#x200B; + +https://preview.redd.it/sdcw3ezud1091.png?width=1443&format=png&auto=webp&s=954dddad8c7d7b7e3c6bbd7741d3d041fc929de9 + +1. Remember: Long positions have infinite upside, whereas shorts have [infinite downside](https://www.reddit.com/r/Superstonk/comments/ukzo1y/thats_why_youre_going_to_win_if_you_are_patient/) +2. GameStop Twitter posted "[Oops \*moass\* my bad](https://www.reddit.com/r/Superstonk/comments/unwk1j/on_this_day_one_year_ago_we_got_the_biggest/)" a year ago +3. The [news is starting to frame Reddit](https://www.reddit.com/r/Superstonk/comments/umluov/which_narrative_will_they_choose/), especially Super Stonk [(by name](https://www.reddit.com/r/Superstonk/comments/uo8vit/superstonk_a_very_big_community_being_recognized/)) for the market crash +4. The Media, especially people like Charles Payne are NOT to be trusted. [When they take our side](https://youtu.be/fQXwLhCeLso) it's to convince us to believe them later. +5. IRAs [can be DRS'd](https://www.reddit.com/r/Superstonk/comments/ub4e95/ira_drs_visual_guide_traditional_and_roth_sdira/). + +* [DIY: How to DRS Transfer Traditional and Roth IRA shares from a brokerage account to Computershare without tax implications (clean version)](https://www.reddit.com/r/Superstonk/comments/ukialw/diy_how_to_drs_transfer_traditional_and_roth_ira/?utm_source=share&utm_medium=web2x&context=3) + +1. Bring back "[You are Here](https://www.reddit.com/r/Superstonk/comments/um59mi/superstonk_i_find_it_wholly_unacceptable_that/)" VW chart posts! They're bullish and it's practically tradition. +2. r/ place was sick, especially how much room the subreddits were able to hodl down +3. GME apes are so committed, we had a Lego weekend, pirate weekend, etc +4. I sit on Reddit everyday, and I see what feels like hundreds of purple circles and letters a day. + +Lot's to be bullish about, so no worries friends, buy/DRS/vote and then be zen! + +&#x200B; + +https://preview.redd.it/35q9qn3wd1091.png?width=1460&format=png&auto=webp&s=64106e2a37e98b737542dfe81ae92906a6de7048 + +1. FUD and Confusion around Full and Free Floats. Settings for [ComputerShared.net](https://ComputerShared.net) + +Free Float: (Public Float) are shares that can be publicly traded and aren't restricted (example: insiders). + + = Full Company aka All Issued Shares - (Institutional, Mutual Fund, ETF Shares Combined) + +Full Float: These aren't the 'publicly' traded, but are at risk of being sold/paper handed to SHF's, therefore should be used in most "Float Locked" calculations. + + = Full Company aka All Issued - (Insider Restricted Shares) + +[ Correct settings to get free and full float from ComputerShared.net ](https://preview.redd.it/ygxlfwgxd1091.png?width=1077&format=png&auto=webp&s=0cfab444ecd31fee870068bf776e98fb61c2e27f) + +2. As an avid user of this sub, I'm seeing a slow decrease in use of the sub's culture in the comments. Examples of the culture here are + +* "I am not a cat" +* "No Cell, No Sell" +* Calling Citadel and Kenny "financial terrorists" +* "We can stay retarded longer than they can stay solvent" +* "To the moon" +* Rocket Emoji Spam "🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀" +* "Ape no hurt ape" +* "Be excellent to each other" +* "Buckle Up" +* "Brick by Brick" + +I think it would be cool to revive some of these! + +&#x200B; + +3. How to use DRSBOT ! + +* Note: DRS Posts on Super Stonk or GME are additive. Each new post lets you call the bot and add more shares to the total count. +* Note2: DRS Posts on GME Orphans are cumulative. You only get one post, so you need to !DRSBOT:RESET!, then post your new image proof in the comments, followed by calling the bot! +* Note3: Proof pictures/videos can be posted the easiest through Imgur, and then copying and pasting the link. + +[ DRSBOT instructions! As simple as 3 steps. ](https://i.redd.it/2yrsu0wzd1091.gif) + +4. Wish me luck on my two exams this afternoon please!! I'm gonna need it. + +&#x200B; + +# EDIT: Finished my exams, let's get some more wrinkles in here! + +https://preview.redd.it/yvnc1x2235091.png?width=900&format=png&auto=webp&s=485b57ff7241a35bf606753f24a13e47bbd46083 + +**Corrections**! + +* Q2 ends on **July 30th**, not June 30th. + * Sources: Q2 2021 ended on [July 31st](https://investor.gamestop.com/news-releases/news-release-details/gamestop-reports-financial-results-q2-2021) and Q2 2020 ended on [August 1st](https://investor.gamestop.com/news-releases/news-release-details/gamestop-reports-second-quarter-results-and-strong-progress). + * The fiscal quarters for GME are offset from calendar quarters +* TLDR and body text said "shorts ***cover*** their positions", should be "shorts ***CLOSE*** their positions" + * This is important, ***covering*** a short position is just temporary. + * ***Closing*** means sealing the deal and the shorts buy back their shares sold short. + * u/TendiesForBacon said why 'closing' is so important in this [comment](https://www.reddit.com/r/Superstonk/comments/urmh05/comment/i8zdp9f/?utm_source=share&utm_medium=web2x&context=3) +* MetaMask Wallet [DOES](https://www.reddit.com/r/Superstonk/comments/urmh05/comment/i8z4e89/?utm_source=share&utm_medium=web2x&context=3) have access to Loopring L2. I thought they didn't, my bad! + * Thanks u/noithinkyourewrong! +* Forgot some of some of my favorite daily posters! My Apologizes! + * [u/parsnip](https://www.reddit.com/u/parsnip/) who makes the daily Diamantenhände German Market posts! Whenever I pull an all nighter, I see their post, I check in, and it keeps me going! + * [MommaP123](https://www.reddit.com/user/MommaP123/) the fairy god mother of DRS. Bringing DRS to apes attention [11 months ago.](https://www.reddit.com/r/Superstonk/comments/o5f8zy/preliminary_information_for_direct_registering/) + * [u/pctracer](https://www.reddit.com/u/pctracer/) who posts the daily reverse repo posts. Your commitment to daily post is amazing! + +&#x200B; + +**Frequently Asked Questions (FAQs)!** + +* *If any wrinkle apes want to contribute to this with answers and sources, send me a DM !* + +1. Can institutions/mutual funds/ETFs sell their shares to short sellers to close their positions? + +* Yes, they have the right to sell their shares when they chose. +* My theory is these massive funds recognize that apes are holding to the moon, and they want a taste of it. If we wouldn't sell at $1,000, $2,000, $5,000, $10,000, why would they? + * Further, these shares shouldn't get dumped all at once. +* u/aforgettableusername said it [well in this comment](https://www.reddit.com/r/Superstonk/comments/urmh05/comment/i8z25i9/?utm_source=share&utm_medium=web2x&context=3), + * *"I 100% expect institutional holders to sell at high but not MOASS-level high prices, because they are merely interested in squeezing out the competition, NOT fueling the collapse of the house of cards. (...) But even if all institutions sell, it will make little difference in the end because the stock is shorted waaaay beyond 100% and hedgies are fucked no matter what. The door is closing in the most optimistic scenario; in reality, everyone knows it's been shredded like Monsters Inc. a long time ago."* + +1. "How will anyone but apes know the significance of one obscure number (short interest) compared to another obscure number (DRS shares) ? " - u/Patarokun + +* On paper it can be shown, there are X apes holding for the moon and Y shorts publicly betting against this. This can then just be represented as X > Y. + * I put the significance as enough to spook some of the smaller SHFs and retail shorts. + * Which would lead to closing short positions + * Which leads to price improvement + * Which leads to more shorts closing. +* This question feels like a call to action, I think that I can cook up some poster graphics that emphases this 'Hodler vs Short Seller". The simpler the better, focusing on **why and how they made such a bad bet.** + * Possibly [DRSGME.org](https://DRSGME.org) is the way to do that + +1. "Can’t disclosed short interest be on “legitimately” borrowed shares from institutions (ie: shares that are not part of the tradable float)?" [asked here](https://www.reddit.com/r/Superstonk/comments/urmh05/comment/i8y9b82/?utm_source=share&utm_medium=web2x&context=3) by u/6days1week + +* My [response](https://www.reddit.com/r/Superstonk/comments/urmh05/comment/i90yl0w/?utm_source=share&utm_medium=web2x&context=3) was "What's important is they **sold shares on the open market**. So that's where they need to pick them back up from. I think regardless of the source of the short position, by covering, you must go out an get a share." + +1. What if (Insert Catalyst) doesn't trigger MOASS? (ie Stock Split, Dividend, Float Locked etc) + +* We don't need one catalyst, we likely need them all at once. These are billion dollar hedge funds, we need all the infinity stones to take them down. + +**I could use some wrinkle apes here to answer the following questions!** + +5. "How long do the shorts have to deliver the shares after a share divided is declared? And what happens if they don’t?" - [u/Ginger\_Libra](https://www.reddit.com/user/Ginger_Libra/) [here](https://www.reddit.com/r/Superstonk/comments/urmh05/comment/i8z4vmr/?utm_source=share&utm_medium=web2x&context=3) + +6. Another big [question](https://www.reddit.com/r/Superstonk/comments/urmh05/comment/i8zs4q0/?utm_source=share&utm_medium=web2x&context=3) from u/PDZef, that I could use help on! + +7. u/PhantomBlack691 [asked](https://www.reddit.com/r/Superstonk/comments/urmh05/comment/i8ykwuh/?utm_source=share&utm_medium=web2x&context=3) "Are the public shorts not a part of the institutional holdings? + +&#x200B; + +**Update on my exams!** + +* *Edit*: (5pm EST) Heading to my exams! I'll catch up on replying to comments when they're done tonight! +* *Edit2*: (9PM EST) Just finished! I think I did well! Thank you all for your moral support! <3 + +&#x200B; + +**Update to DD Graphic** + +[Added the possible short positions, so it's easy to visualize how big of a problem this is for the hedgies](https://preview.redd.it/7rmzrd9ci5091.png?width=814&format=png&auto=webp&s=cdb3a6b57c9726987d9ffa8756dd93dea90ee4e5) + +&#x200B; + +**Bullish Comments** + +* u/SchroedengersCat88 had a [bullish comment here](https://www.reddit.com/r/Superstonk/comments/urmh05/comment/i8yhwpw/?utm_source=share&utm_medium=web2x&context=3) about the symbolism of this event +* u/DoubleFisted27 questions why # of shares in brokerages isn't public info [here](https://www.reddit.com/r/Superstonk/comments/urmh05/comment/i8yyxev/?utm_source=share&utm_medium=web2x&context=3). +* u/welcometosilentchill talks about keeping ourselves in check, breaking down shorts at different price points [here](https://www.reddit.com/r/Superstonk/comments/urmh05/comment/i8z3kun/?utm_source=share&utm_medium=web2x&context=3), but also says some bullish things! +* u/oMrChoww talks about the halts on May 12, 2022, and the liquidity of the stock [here](https://www.reddit.com/r/Superstonk/comments/urmh05/comment/i8zgddz/?utm_source=share&utm_medium=web2x&context=3) +* u/fsocietyfwallstreet explains how a stock split might play out [here](https://www.reddit.com/r/Superstonk/comments/urmh05/comment/i8ym2da/?utm_source=share&utm_medium=web2x&context=3) with a clarification +* u/honeybadger1984 explains how symbols are powerful [here](https://www.reddit.com/r/Superstonk/comments/urmh05/comment/i8zcbom/?utm_source=share&utm_medium=web2x&context=3) + +&#x200B; +I'm a millennial and consider myself pretty tech smart. Today I received an email on my work account and the name in the email was my boss' boss' name (Let's say Jane A Smith). Whenever she emails me her subject line is always "Please do this quickly" and this subject was that. The email basically said she needed me to pick up a gift card for a client, which seemed reasonable because our holiday party is next week. + +I was kind of annoyed because I thought she could do it, but I emailed back asking how much. If it had been a reasonable amount I probably would have done it, but she said "I need five gift cards, $200 each." I then checked the email and realized my Jane's name comes through as Jane A. Smith with a period and when I clicked the actual email it was basically random letters with a dot ru. Had I fallen for it I would probably be too embarrassed to talk about it and even now I feel kind of stupid, but please be careful out there especially around the holidays! I'll be talking to IT about this tomorrow. + +UPDATE: Apparently quite a few people got this same email but luckily no one fell for it. I imagine we’ll have an IT common sense meeting soon. + I have the pleasure to introduce you to a new amazing project called SPACERAT. Well you ask yourselves what\`s up with this project? Well it is a community driven project built on Matic Network and brings up a new revolutionary mechanism to the MATIC ecosystem . + +Now is the opportunity to get into the First and Only legit rat token to launch on Polygon. We all know how many X\`s Moonrat did after launch on BSC.. Guess what… History loves to repeat itself!. Next safemoon on matic + +You can earn MATIC just by holding this token, 4% of every transaction is sent and re-distributed to MATIC and $SRAT pool. Every holder can claim it daily. They also have an anti pump and dump mechanism. + +Even with this market conditions, the team spent their energy to bring things to life and flourish. Until now they accomplished huge things , such as being listed on Coingecko after 1.5 days, but also being audited. + +Check out what they are all about on their Website(spacerat.finance/) . + +Useful links: + +Telegram: t.me/SpaceRatPolygon + +Twitter: twitter.com/spaceratmatic + +Guys dyor, but I really believe this token will bring a lot of improvements to the Matic ecosystem and change the game in many ways + +Ps: Every week get Airdropped your favourite tokens other then Srat. +#Intro +I am going to give a brief explanation of portfolio efficiency, share some backtests under different circumstances, and attempt to make the case that no one who is trying to grow their wealth both safely and quickly should be invested in 100% stocks. + +#What is risk? +Everyone here has a general concept of risk and reward. It's something that every investment has, but not all investments are equal. If you invest in a one year treasury bill today you will have next to no risk but the reward is only 0.4% per year. If you invest in a 20 year treasury bond you will have slightly more risk and therefore you get a slightly higher reward of about 2% per year. If you invest in the S&P 500 you are taking on much more risk, but how is that measured? It is incredibly difficult to define what risk is. Some people consider it to be the odds of losing everything if you're dealing with derivatives for example, while more commonly it's defined as the amount of volatility you may experience along the way. The S&P 500 dropped by a bit over 50% in the 2008 Financial Crisis. The more volatile your investment is, the bigger the chance it has of going down significantly in value and because there's never a guarantee of it going back up in value this is perceived as risk. + +The stock market (the S&P 500 for the purposes of this) returns anywhere from 6-12% per year on average depending on if you include inflation, dividend reinvestment, and depending on the time frame you're looking back at. The backtests I will show go back to 1994 and including dividends, but not including an inflation adjustment, show the S&P 500 returning about 10.5% per year. This is a great average return and while there are significant crashes from time to time, it has shown to be incredibly resilient at recovering. This has led a lot of people who are looking to grow their wealth to allocate 100% of their investment portfolios into stocks. Don't get me wrong, this is still a great way to grow your wealth and if you do it for 20+ years you can expect to retire quite nicely. The point of this paper is to explain a way that you can *either* keep the risk the same and increase your returns, *or* keep your returns the same and decrease your risk. This is done through having an efficient portfolio. + +#What is an efficient portfolio? +Most people here are familiar with the movement of stocks. They generally follow the broader economy and when that struggles they also struggle. This can lead to lower future expectations which causes some to sell their stocks and move their money to something less risky. Well what is that less risky thing? In most cases it's bonds. What happens is during times of uncertainty people make this switch from stocks to bonds. This is often known as a "flight to safety". It causes stock prices to drop and bond prices to rise. What also can happen in times of uncertainty is the Federal Reserve cutting interest rates. I won't go into too much detail here but lower interest rates cause bond prices to increase. + +Now you have stocks that perform well in good times and bonds that perform well in bad times. This is called an inverse correlation. Stocks and bonds do not *always* have an inverse correlation, especially during good times, but they do have some degree of it during bad times. There are other things that move somewhat or completely inverse to the stock market, such as put options which involve betting on something going down, but the key difference between those other options and bonds is that bonds have a positive expected return. If the market is expected to return 10% per year and bonds are expected to return 2% per year and you hold them 50%/50% you would have an expected return of 6%. This seems worse than holding just stocks... but return is only half of the picture. A stock/bond portfolio is going to have **less than half** of the risk of the 100% stock portfolio. This is because of the somewhat inverse relationship I mentioned earlier. You can plot the risk and return of every combination of stocks and bonds. For example on one end you have 100% stocks + 0% bonds, on the other end you have 100% bonds and 0% stocks. This does not form a straight line. The resulting risk/reward ratio is a curve and the portfolios on the curve are known as tangency portfolios and looks like [this](https://cdn.wallstreetmojo.com/wp-content/uploads/2019/09/Efficient-Frontier-1.jpg.webp). + +Every portfolio on the curve is as historically [efficient](https://en.m.wikipedia.org/wiki/Efficient_frontier) as possible. Now you might notice that even 100% stocks, which would be a broad index fund, is on the curve. That does not mean that it is the most efficient. What that means is that without using any leverage it is the most efficient way to achieve those higher returns. Looking at the curve you'll see that there is a huge amount of diminishing returns with 100% stocks. You are taking on more risk for fewer returns when compared to some of the more efficient combinations which are generally 55-60% stocks and 40-45% bonds. + +#The effects of adding leverage +If you are willing to take on the risk, defined as the volatility, of 100% stocks, then it follows that you should be able to take on the risk of the portfolio that I am about to describe. There exist leveraged ETFs (r/LETFS) that multiply the daily gains of whatever they track. If you want 2x leveraged S&P 500 you would probably use the ticker SSO. If you want 2x leveraged 20 year bonds you can use the ticker UBT (Side note: if you have issue with the low AUM of UBT you can use 50% TLT and 50% TMF to get the same result). Combining the two of these in a 55%/45% ratio (or 60%/40% if you prefer) you can effectively double the most efficient portfolio. This is the same as holding 110% stock and 90% bonds. You can use any degree of leverage you like but I am a fan of 2x because it matches the risk of 100% stocks very closely. Let's look at some backtests from 1994 to present day. + +[Here](https://www.portfoliovisualizer.com/backtest-portfolio?s=y&timePeriod=4&startYear=1985&firstMonth=1&endYear=2022&lastMonth=12&calendarAligned=true&includeYTD=true&initialAmount=10000&annualOperation=0&annualAdjustment=0&inflationAdjusted=true&annualPercentage=0.0&frequency=4&rebalanceType=3&absoluteDeviation=5.0&relativeDeviation=25.0&leverageType=1&leverageRatio=100&debtAmount=0&debtInterest=3&maintenanceMargin=25.0&leveragedBenchmark=false&reinvestDividends=true&showYield=false&showFactors=false&factorModel=3&benchmark=-1&benchmarkSymbol=SPY&portfolioNames=true&portfolioName1=2x+55%25+Equities+45%25+Bonds&portfolioName2=Portfolio+2&portfolioName3=Portfolio+3&symbol1=SPY&allocation1_1=55&symbol2=VUSTX&allocation2_1=45) is the backtest of the main portfolio I am describing compared to an unhedged S&P 500 portfolio. This test covers 28 years, 20 of which the leveraged portfolio outperformed. Please note, the years that it outperformed were **not all during bull market years**. It outperformed every year of the Dot Com crash, 2008, and 2020. It had a CAGR about 50% higher (15% vs 10%) over this time period, a better worst year, and a marginally better maximum draw down. + +[Here](https://www.portfoliovisualizer.com/backtest-portfolio?s=y&timePeriod=4&startYear=2006&firstMonth=1&endYear=2010&lastMonth=12&calendarAligned=true&includeYTD=true&initialAmount=10000&annualOperation=0&annualAdjustment=0&inflationAdjusted=true&annualPercentage=0.0&frequency=4&rebalanceType=3&absoluteDeviation=5.0&relativeDeviation=25.0&leverageType=1&leverageRatio=100.0&debtAmount=0&debtInterest=3.0&maintenanceMargin=25.0&leveragedBenchmark=false&reinvestDividends=true&showYield=false&showFactors=false&factorModel=3&benchmark=-1&benchmarkSymbol=SPY&portfolioNames=true&portfolioName1=2x+55%25+Equities+45%25+Bonds&portfolioName2=Portfolio+2&portfolioName3=Portfolio+3&symbol1=SPY&allocation1_1=55&symbol2=VUSTX&allocation2_1=45) is the portfolio from 2006 to 2010 which fully encompasses the 2008 Financial Crisis. In this time the S&P 500 basically broke even and this portfolio did marginally better. This is to illustrate that even if we have another 2008 this portfolio is going to be just as resilient, if not more so, than the S&P 500. + +[Here](https://www.portfoliovisualizer.com/backtest-portfolio?s=y&timePeriod=4&startYear=2015&firstMonth=1&endYear=2019&lastMonth=12&calendarAligned=true&includeYTD=true&initialAmount=10000&annualOperation=0&annualAdjustment=0&inflationAdjusted=true&annualPercentage=0.0&frequency=4&rebalanceType=3&absoluteDeviation=5.0&relativeDeviation=25.0&leverageType=1&leverageRatio=100.0&debtAmount=0&debtInterest=3.0&maintenanceMargin=25.0&leveragedBenchmark=false&reinvestDividends=true&showYield=false&showFactors=false&factorModel=3&benchmark=-1&benchmarkSymbol=SPY&portfolioNames=true&portfolioName1=2x+55%25+Equities+45%25+Bonds&portfolioName2=Portfolio+2&portfolioName3=Portfolio+3&symbol1=SPY&allocation1_1=55&symbol2=VUSTX&allocation2_1=45) is the portfolio during 2015 to 2019. You might wonder why this period is significant and that's because rates were rising from near zero to almost three percent during this window. Rising rates are bad for bonds but generally are a sign the economy is strong. This year is the start of a series of rate increases which are most likely already mostly priced in at this point. The Fed wants to get interest rates up a couple percent so that they have room to drop them in the next crash. During this time the portfolio was more or less on par with the market yet again and came out with both a slightly higher CAGR and lower maximum draw down. + +[Here](https://www.portfoliovisualizer.com/backtest-portfolio?s=y&timePeriod=4&startYear=1985&firstMonth=1&endYear=2022&lastMonth=12&calendarAligned=true&includeYTD=true&initialAmount=10000&annualOperation=0&annualAdjustment=0&inflationAdjusted=true&annualPercentage=0.0&frequency=4&rebalanceType=3&absoluteDeviation=5.0&relativeDeviation=25.0&leverageType=1&leverageRatio=100.0&debtAmount=0&debtInterest=3.0&maintenanceMargin=25.0&leveragedBenchmark=false&reinvestDividends=true&showYield=false&showFactors=false&factorModel=3&benchmark=-1&benchmarkSymbol=SPY&portfolioNames=true&portfolioName1=2x+55%25+Equities+45%25+Bonds&portfolioName2=100%25+2x+Equities&portfolioName3=100%25+2x+Bonds&symbol1=SPY&allocation1_1=55&allocation1_2=100&symbol2=VUSTX&allocation2_1=45&allocation2_3=100) is a visualization of each of the parts of the portfolio compared to both the market and the combined portfolio itself. I wanted to show this one so you can get an idea of how each piece moves. You can see that it really is a team effort between the two assets, especially during crashes. + +#Conclusion +I know after seeing this there are still going to be people who won't touch leverage ever in their life and that's okay. I just want to put this out there for the ambitious ones who want to shave a few years off of the time it takes to reach their goal. + +* I have written over 15 pages specifically debunking or explaining various risks associated with leveraged ETFs. This will be posted when it is completely finished. If you have a question or concern about them or their mechanics, just ask. + +* I am personally investing over 90% of my wealth into a modified 3x version of this portfolio. +* For people who want diversification outside of the US, I have a post about recreating a leveraged version of VT [here](https://www.reddit.com/r/FinancialAnalysis/comments/rxmbwt/how_to_create_a_leveraged_version_of_vt/?). If you want me to help you come up with something specific just ask. +* If you want more information on leverage I would highly suggest [this](https://rhsfinancial.com/2017/06/20/line-aggressive-crazy-leverage/) +* This portfolio should be rebalanced quarterly if possible (in a Roth IRA for example) or at least annually. If one part grows enough to overtake the portfolio you won't have the same efficiency benefits. +* This is just a less aggressive variant of [HFEA](https://www.bogleheads.org/forum/viewtopic.php?t=272007) designed to match SPY's maximum drawdown in the last 30 years. + +If you read all of this, thank you! I would really like to have some good discussions in the comments. If you're going to try to make a case against it, which I welcome, please bring your sources! +Welcome to the Daily General Discussion thread of /r/EthTrader. + +*** + +Thread guidelines: + +- Please refrain from discussing non-Ethereum related tokens here. You are welcome to discuss altcoins in the Daily Altcoin Discussion thread. +- All [sub rules](https://www.reddit.com/r/ethtrader/about/rules/) apply here so please be familiar with them. + +*** + + Resources and other information: + +* Find the latest Altcoin Discussion thread in [this search listing](https://www.reddit.com/r/ethtrader/search?q=author%3Aautomoderator+title%3Aaltcoin&include_over_18=on&sort=new&t=all). + +* Newcomers who have basic questions about Ethereum can find answers by visiting /r/EthereumNoobies or our Ethereum Education wiki page, [see here](https://www.reddit.com/r/ethtrader/wiki/education). + +* To view live streaming comments for this thread, [click here](https://reddit-stream.com/comments/auto). Account permissions are required to post comments through Reddit-Stream.com. + +*** + +Enjoy! +So I'm going to be renting for another year (July 2022 - July 2023), and I have a sizeable house downpayment sitting in my HISA. + +Considering I won't be buying for another year at the very least, does it make sense to put my down payment into a GIC now that the rates are more attractive? + +If yes, I would ideally do it through TD as I like to keep everything in 1 place. It's just easier for me to manage and track, and I don't care about min/maxing for an extra 100 bps. + +I was looking at the TD Special Offer GIC and I could get 2% for 100 days, cashable, or 3.25% for 14 months, non-cashable. + +Thoughts on this? +**I saw ape andy's** [video](https://www.youtube.com/watch?v=_j7mlOb5qaY&ab_channel=AndyLee) **today and he had a great point!** + +He said that we apes should not sell our GME or AMC shares when one or the other blow up first. There are 2 major reason why that is. + +**1)** ***It will ruin the buying pressure*** + +Lets say AMC blow up first. And you sell your GME shares to not miss out. Thats such a shame for other GME holders, because the hedgefunds just buys your share back at a stupid low price, and ruin it for yourself and others. + +**2)** ***Hedgefunds know this, and will likely push the other stock down*** + +Hedge funds will likely be trying to push GME down if AMC goes up, to cause FOMO among GME holders and lose hope and papirhand some out. + +***Just wait until its either AMC, or GME's turn to blow up*** + +As ape andy says: The other stock will likely blow up shortly afterwards, because of the buying pressure from squesed AMC or GME holders. + +Hedgefunds know that. The squeses will perhaps most likely happen a day or 2 apart, is my guess. + +&#x200B; + +&#x200B; + +**TLDR:** + +Selling GME to jump on the FOMO AMC train = **bad** + +holding/buying GME = **good** + +&#x200B; + +&#x200B; + + +Not a financial advice. + + + +Edit: + + +I'm feeling that Im creating FUD among some of you Guys, just because i mention AMC in this one thread... Please don't feel scared, use your common sense. I think some of you are misunderstanding My intentions... + +I know this sub is for GME. I spend 4 hours here each day looking at DD's and memes. AMC in this context is related to GME. + +Some says: "No one would sell GME to jump on the AMC train during the start of the AMC squese, Who the f is selling!? OP are you out of your fucking mind? " + +No, No im not. Im pro GME, 90 percent of my potifolio is GME, it has allways been My main stock. + +please keep in mind that some people are not as informed as you, and not as aware of the impact of selling GME stocks during FOMO. FOMO can be strong among some, please keep that in mind. I only wish the Best for GME thats why im writeing this post. + +🚀 🚀 🚀 +Example given: + +1) + +Scenario: The government invested in car industry and the national GDP growth increased 10% more than last year. + +Thesis: the national GDP grew up because of the government investment in car industry + +Question: if the government did not invest, wouldn't the GDP grew up the same or even more? + +Or 2) the opposite + +Scenario: the government did not invest in anything special and the national GDP growth increased 10% more than last year. + +Thesis: the national GDP grew because of the abscence of government intervention + +Question: if the government invested, wouldn't the GDP grew up the same or even more? + +__________ + +We can empircally prove that the GDP growth of one country was higher than the GDP growth of another country, because both actually happened, the comparation can easily have an empirical end-to-end approach. + +In 1) and 2) we only have what actually happened, but as far as I know, we can't empirically interact with something that did not happen. So, the question again: **how can an economist empirically prove that a real scenario was better or worse than a hypothetical scenario?** +For the first time in my adult life I've paid for Christmas from actual money instead of borrowing it! This is a huge achievement for me and marks months/years of trying to trim the fat and stick to a budget while still having a life. + +I did this mostly by: +-Resisting the urge to go big and just get small gifts for my family +-Picking things up throughout the year as I saw them, which both spreads the cost and allows me to take advantage of discounts that might not be available close to Christmas as retailers hike up prices +-Sticking to an actual budget! + +Fortunately I don't have a partner or kids so my expenses weren't that high to begin with. But it still feels great to say Christmas is paid for and I haven't increased my deficit to do it. +Nikola Failed to Address 43 of our 53 Questions. Of Those It Touched On, It Largely Confirmed Our Findings or Raised New Questions. + +Nikola Admitted That Its Deceptive “Nikola One in Motion” Video Was, In Fact, Video of The Semi-Truck Simply Rolling Down A Hill. + +The Company Says It Never Claimed the Truck Was Powering Itself, Despite Deceptive Editing and Claims That it Had “1,000 HP” With “Sports Performance” + +&#x200B; + +In our report, we explained how the company released a [video](https://www.youtube.com/watch?v=IAToxJ9CGb8&feature=youtu.be) called “Nikola One in Motion”, which made it seem that its Nikola One semi-truck was traveling under its own power at a high rate of speed. Angles in the video were edited to make it appear as though the semi was moving on a roadway that was flat, or even uphill. + +In Monday’s response, the company acknowledged that its vehicle was not functioning under its own power, and instead, was apparently simply showcasing the power of gravity. It claimed that using the term “in motion” dispelled the deceptive nature of the video. + +We disagree. Beyond common sense, the company referred to the Nikola One as “**the 1,000 HP**, zero-emission Nikola One semi-truck” in the description of its video. Obviously, the truck can’t have 1,000 horsepower or even 1 horsepower if it doesn’t power itself. + +&#x200B; + +The whole response: + +[https://hindenburgresearch.com/nikola-response/](https://hindenburgresearch.com/nikola-response/) +Wife wants us to buy a house, live in it and then rent it out when we are have enough money to go to a bigger place. + +I've tried to explain to her that being a landlord isn't as easy as she thinks and it's not a "passive" income at all, as you need to be on top of things constantly. + +She says that if we can get a 3 bedroom house at any Uni city, that will definitely be at least £500 per room, hence it's impossible to not be profitable. + + +I've run out of ways to tell her that it won't be that easy. + +Can anyone with experience please lay it down with maybe percentages on why the returns would be so slim that we better off put our money on a stable stock plan instead? +We all come from a number of backgrounds, and I often see people saying things like: + +- Motivations of Reserve Bank are X + +- Politicians own property, this is a major driver in lack of action +- Real + Estate agents _____ (insert numerous/uncountable assumptions here) +- Many, many, more! + +I'd love to hear from anyone who's seen something that's just not true but hasn't bothered to correct it - would be good to dispel some notions that are commonly assumed to be true. +Hello Everyone! + +Ape help ape. + +Howdy all! I've been immensely happy for the good reception this has been getting, and for all the people helping in their needs. I'm just so happy for that. Now just like I always ask, is everyone holding up okay? Still very much turbulence in the world right now, as well as personally for some. Alot of people have been having things rough. It's okay to take a breather! Maybe do a little yoga, in, out! Ahhhhh! + +After weeks of DRS transfers out the wazoo, and brokers continuing to be in a rock and a hard place concerning the Splividend, the price continues to rise slowly but surely. Most woke up to find a halt on Monday, followed by some pretty sideways price action. While some have expected the price action to be more extreme, I think the halt shows that hedge funds are still very short, and will need to cover very soon. As the Splividend continues to reveal itself to the brokers and people continue to DRS their newly received shares, spirits stay high. The following weeks will be interesting, I will be watching very closely! + +Now on to the fun stuff. Anyone need food or essentials? Please reach out to the community and speak up! No shame. Many here can help make sure that you and your loved ones are good. There is no reason anyone should be without. Ive seen so many comments of people in tough times, it just absolutely pains me to see this. I don't know how to even do this. I'm sure we can find a way in keeping this responsible and anonymous. Anonymous is the word, no one is asking for anyone to be doxed here. + +No one should be without. We're all family here. Even if this helps a few people then it's worth it. + +If you need help, if you're struggling, please ask. We are all a community, and there's no shame in seeking support if you need it. Also you don't need to be in the same area, hopefully you can find someone/people to help! If you just need to vent that's fine too. + +Just wanna go over a few ground rules for this post. Feeling frustrated and tired here IS okay, but spreading FUD is not. A little leeway will be given but outright \*\*saying you sold\*\* (true or not) is not the best to post and \*\*WILL be considered FUD.\*\* No fud please. Basically not spreading of fud and not talking of selling and you'll be good. Also helping out is absolutely okay, and welcomed, but I think the line has to be drawn at posting things like official charity links and gofundmes, at least here in the comments. Also remember that while this is an online community, we are all individual investors. But also remember that needing help is okay and you're not alone. + +As for the critics, not everyone who's struggling is over leveraged. Alot can change in a year or even just a few months, and you just never know what people are truly going through. Also many people who have no idea what's happening with GME currently are feeling the effects of the state of the economy right now. A little compassion never hurts 😄. + +Cheers everyone 🍻, and hope everyone has an awesome weekend 😊. + +Use your gut and ape help ape! WAGMI. And remember, Power to the Players 🥢! DRS! 🦍❤️ + +Stay cool! Love everyone. +I'm in the middle of it all right now. 34, two young kids. Wife is stay-at-home which is a great fit for us. I'm a structural engineer finally living in a LCOL area (Harrisburg) after successfully getting out of a HCOL area (Philly). + +My wife and I graduated in 2010, it was tough finding a job for both of us. I somehow got into engineering (it was tough, even with an engineering degree). My wife worked before kids, we were able to pay off our 104k in student loans by the time i was ~29. We found FI and quickly hit $0 NW around ~28. Between Student Loans, Retirement, and saving taxable assets for a house, we felt it was pick 2 out of 3 (sorry house, we'll buy one someday), so we're sitting on 2.5x my salary in investments, mostly retirement. + +We've slowly pieced together a meager downpayment, but after seeing what's available and at what prices we feel we need a MUCH larger warchest before buying someone else's home with 20 years of deferred maintenance. Right now we're saving 9% for retirement, ~8% to max out my HSA and putting away ~$500 a month or so in cash. + +Just doesn't feel like enough. I know we're in the messy middle. I know we're getting it done, but I feel like we should be further, despite making gigantic progress the last 6 years and being on track to hit my self-imposed goals at 40 and 43. Can anyone else relate? Tough to look around at the houses and cars that suggest everyone around me is pulling in $300k/yr. Am I crazy? + +***************************************************************************** + +Update 6/23 + +Thank you everyone for the kind words and support. Seems like we all get discouraged from time to time and need a bit of group therapy. Lots of good stories here and I wish everyone the best on their journey! +I own a duplex, and I'm discussing acquiring the one next door with the owner. My rents are $1,100 for a 2/1 unit and $900 for a 1/1 unit. The neighboring duplex has exactly the same layout. The owners inherited the property, and they haven't raised rents in the past decade, from before the neighborhood became desirable. Currently the rents are $700 for the 2/1 and $550 for the 1/1. + +If I end up buying the place, I'd obviously want to get the rents to a market rate. I've chatted with the tenants, while I was renovating my duplex. (I actually got the owner's number from one of the tenants.) They are very nice people, and they've lived there for 12 and 15 years, respectively. I feel pretty bad for raising rents by 80%, but gradually raising would take forever to get to a market rate. To my knowledge, there is no specific regulation that dictates how much rent can go up in this area. + +Thoughts on how to go about this? +Hey guys! This is the guy with a 35 unit rental portfolio who [did an AMA on here](https://www.reddit.com/r/realestateinvesting/comments/817z6d/ama_ive_built_a_portfolio_of_35_rental_units_and/) a few months ago. + +I've written several posts about how I find and manage my rental properties, including [this recent one](https://www.reddit.com/r/realestateinvesting/comments/8hq15m/investor_us_how_i_grew_my_portfolio_to_35_rentals/) about what I look for in each rental in terms of age, layout, condition, etc. + +People asked me to follow up with some tips for analyzing cash flow projections, so I wanted to share some of the lessons I learned over the years. + +&nbsp; + +*An Obligatory Disclaimer* + +Take all of this with a grain of salt. There is no right or wrong way to invest in real estate or analyze projected cash flows. What worked for me may not work for you and I encourage you to practice analyzing at least a few dozen properties until you really know the process and what the various numbers mean. + +&nbsp; + +### **All of the So-Called "Rules" Are Mostly Worthless** + +This one's bound to raise some controversy, but here it goes anyway. Ever hear of the "2% Rule" (rent to value should be 2% of higher) or the "50% Rule" (operating expenses will be, or should be, about 50% of gross rent)? + +Well, in my experience, focusing on them as purchase criteria or worse - using them to estimate expenses, is usually a bad idea. + +Why? Mainly because they are somewhat misleading, too simplistic and often grossly inaccurate. + +Just because a property passes one of these rules, doesn't mean it's a good investment. With today's high property prices, for example, properties that meet the 2% Rule, will generally be in very depressed markets and neighborhoods. They may look good on paper, but I would never buy them because of potential tenant issues and likely little to no future rent/price growth. + +Similarly, knowing that operating expenses are less than half of the gross rent doesn't really tell me much about the actual cash flow or returns that you’ll get from the property. The 50% Rule doesn’t account for vacancy or financing, which have a huge impact on your returns. + +If you really want to use these as a rough screening tool, go ahead, but I would strongly encourage you to forget them and do a more thorough cash flow analysis once you’re serious about a particular property. + +&nbsp; + +### **Use as Few Estimates/Assumptions as Possible** + +Going along with the above, I see so many people try to use various “estimates” or "averages for a particular area" when running their cash flow projections. I guess it's probably a way to save time and speed up the data gathering process. + +While you can't get around using at least some estimates in your projections, you should avoid them as much as possible. Again, they are not specific to the property, too general and often misleading. You can look at two houses a mile from each other with vastly different cash flows. + +When you use estimates, you severely decrease the accuracy and value of your projections. You're just feeding ballpark numbers into the calculations, so don't expect to get any meaningful numbers back out. + +Here are some specific notes about the common items: + +&nbsp; + + +**Gross Rent**: + +Don't just take the seller's word for what a property will rent for - actually look it up. Get several estimates from a few unrelated sources: + +* Current Lease: is the property rented? Look at the current lease for the monthly rate +* Craigslist: search for very similar postings in the exact same area and look at what they're being advertised for +* [Rentometer](https://www.rentometer.com): not 100% accurate, since it doesn't take into account the condition or size of the property, but ok to get a rough idea +* Property Managers: contact 2-3 local property managers, send them the property address and ask what they can rent this exact property for + +&nbsp; + + +**Vacancy:** + +Obviously, this will an estimate, but think about it instead of just throwing 5% (or whatever) in your calculation: + +* Is this an A-class or C-class neighborhood? Lower-class neighborhoods will almost always have higher vacancy rates +* Is this a multi-family or single-family? Multi-family properties typically have higher vacancy rates as well +* Is this a densely populated area or in the middle of nowhere? Naturally, the bigger the potential renter's pool, the more likely you are to find a tenant quicker +* Is this straight-rent or Section 8? I've had the Section 8 administration take weeks just to process an application - something you have to account for + +&nbsp; + +**Property Taxes:** + +This one is so easy to look up, I don't know why you would ever use an estimate. Every county in the US has a publicly accessible website where you can look up the exact tax bill for a given address. Just search for it. + +After you found the tax bill, keep the following things in mind: + +* Is there a homestead exemption in place? Many states/cities give you a reduced tax bill if you live in the property. If you're buying from a homeowner, you need to account for this being gone +* Does your state do a reassessment during the sale? In California, for example, property taxes get reassessed during each sale, so the bill will likely go up. You need to research if that's the case and account for the increase after purchase + +&nbsp; + +**Insurance:** + +For some reason, I see many people use something like $1000 to estimate the yearly insurance payment. It doesn't not cost this much to insure a rental property, especially an SFR. + +I have most of my properties insured for less than $500/unit/year, so shop around, find a good local agent and get some actual quotes from them. + +PM me if you need a referral to a good nation-wide company tailored toward investors. + +&nbsp; + +**Property Management:** + +If you'll be using a property manager, you should already have one picked out *before* you even start looking at properties. Ask them for an exact rate sheet, and don't forget to check if they have tenant placement, lease renewal or other fees. + +&nbsp; + +**Maintenance:** + +This is another one that you'll have to estimate, although ideally you would get 2-3 year's worth of operating history from the current owner and look at what the actual maintenance costs were (more common for multi-family and commercial properties). + +If estimating, again think about the property, its condition and how much it will cost to upkeep it: + +* What's the age of the house? Older properties will almost always take more to upkeep +* When was the last major rehab performed? Same as the above +* What is the quality of fixtures and finishes of the property? Replacing a top-of-the line Moen shower head will cost a lot more than a mid-range, no-brand model. If the home has a lot of high-end finishes, fixtures and appliances, it will cost more to replace all of those things when they break +* What is the class of tenant that will be living there? Generally, the better the tenant quality, the less wear and tear they will produce and the lower your maintenance costs will be. Again, *generally*, but not always + +I don't particularly like to estimate maintenance as a percentage, I like to use a set monthly dollar amount. Replacing a basic toilet costs about the same, regardless of how much the property is renting for or how much it costs to buy. + +&nbsp; + +**Capital Expenditures:** + +Most people don't even have this one anywhere in their calculations. Maintenance is your ongoing cost to keep the property in good condition, fixing anything minor that breaks. + +Capital expenditures are big-ticket items like replacing the roof, HVAC, water heater, appliances, etc. Depending on the current condition of the property, they may not be needed for many years, but they will eventually come up and you should account for them in your projections. + +Again, I prefer to use a fixed dollar amount. + +&nbsp; + +**HOA, Landscaping, Utilities, Misc.:** + +Depending on the property type (condo vs single-family vs multi-family), you may have other expenses like HOA fees, landscaping, common utilities, trash removal, snow removal and any state/city fees. + +Run through the list to see which ones apply to your property. If possible to get actual numbers (like HOA fees), do it. + +&nbsp; + +### **Use a Well-Tested Calculator to Do the Math** + +I'm not going to get into detail how to calculate every single number or return metric, but there are standard formulas that investors have been using for decades. + +Sure, the math isn't that complicated and you can whip up a simple Excel sheet that does it for you. But the chances of you screwing something up are high, especially if you're new or have never done any kind of financial analysis before. + +There are already so many other factors that will affect the accuracy of your cash flow projections, the last thing you need is doing the math wrong. + +There are many great online/mobile calculators that will do the number crunching for you, and I recommend you stick with them until you have the understanding and experience to develop something custom. PM me if you need a recommendation. + +&nbsp; + +#### **Current vs Pro-Forma Calculations** + +There could be a big difference between what a property rents for now and what it could rent for potentially. + +In most cases, the property's condition can be improved (in other words it can be rehabbed) and rent can be increased. I also often see previous landlords being reluctant to raise the rents, so there can be opportunity to increase the rents even without doing any work. + +You need to establish from the beginning what you're going to do with the property - are you going to just do minimal work and rent it as-is? Or are you going to perform a rehab and raise the rents to market? + +Your cash flow projections, including up-front cash requirements and the returns you get will be very different in these two cases, so make sure you understand what you're going to do, or run the numbers for each scenario and compare. + +&nbsp; + +#### **What Metrics Should You Focus On** + +Another issue I see is once you start calculating all of the various return metrics (ex. cap rate, COC, ROI, IRR, RTV, GRM, DCR), the natural question comes up - what should I focus on when comparing properties? + +I see this topic debated to no end and once again, I don’t think there is a right answer. It depends on your goals and what you're trying to achieve with rental properties. + +Somebody who wants to maximize their cash flow will look at different things than somebody who invests primarily for price appreciation. Similarly, somebody who is planning to sell the property in 5 years will focus on different things than somebody who never wants to sell it at all. + +My personally, I have a very long-term horizon and like a mixture of both cash flow and appreciation. I focus primarily on 3 metrics: + +* **Cash Flow**: I look at monthly cash flow, per unit, per month. Just so there is no confusion - this is the net amount you'll receive, after accounting for vacancy, all expenses, cap ex and loan payments (but before taxes). I typically will only buy a property that cash flows at least $250/month/unit +* **Cash on Cash Return (COC)**: Calculated by dividing the yearly cash flow by the total invested cash. I like to think of COC as basically a cash yield indicator and look for at least 15% +* **Internal Rate of Return (IRR)**: This is an average, annualized total return on your invested capital, which accounts for cash flow, price appreciation and loan paydown. [See this discussion](https://www.reddit.com/r/realestateinvesting/comments/8rdp2j/how_to_calculate_the_internal_rate_of_return_of_a/e0r2brh/) where I describe how I calculate it. I like IRR because I can readily compare it with other properties and with unrelated investments like stocks or bonds. If you don’t want price appreciation included in the calculation and only want to see a “cash flow IRR”, you can do that as well. I like to see IRR of at least 20%. + +What about the cap rate? This is probably the most often used or quoted number. I find it not very useful and misleading for two reasons: + +1. It ignores financing, since you’re using NOI for the calculation. But financing is a critical part of every deal for me and sometimes the financing terms can make or break a deal +2. It ignores closing and rehab costs, since it’s usually calculated just off the purchase price. Again, both of those are important (especially the rehab costs) and without accounting for them I only get part of the picture + + +&nbsp; + +*** + +&nbsp; + + +In conclusion – I’m a firm believer of not cutting corners when analyzing cash flow and spending extra time doing research. They say in real estate you make your money when you buy – well doing due diligence and projections is where you should spend the most time then. + +I also tend to err on the side of caution and leave greater safety margins in terms of vacancy, maintenance and cap ex, for example. I’d rather pass on an “ok” or “good” deal and wait for something “great” to show up. + +Feel free to ask any questions below. +Has anyone else realized this? I’m so tired of scrolling social media and feeling like everyone is trying to sell me something. + +Weight loss programs, get rich quick schemes, influencers marketing crap, Facebook friends selling stupid nail art and beauty products, aesthetic companies trying to sell me Botox and fillers. + +It makes me irrationally angry, to the point that I don’t ever want to buy anything because most crap is useless or superficial. I just want TIME and FREEDOM and I realize the only way to get these things is with MONEY. Anyone trying to sell me something is just chipping away at that dream. + +A part of me just wants to hide away in a forest and live off the land 😆 + +Tell me I’m not crazy! + +EDIT: Here is the podcast episode I referred to in one of my comments + +https://www.npr.org/2022/01/14/1073199737/tiktok-made-me-buy-it +The fact that some people like to predict the future by seeing cups and handles in candlesticks does not mean that we should disregard the value of statistics. + +Trying to keep an open mind, how could some aspects of technical analysis fit in the day of a value investor? I am not talking about trying to make predictions, but about evaluating the stock, its industry and sector, or its market in general. + +Or this is strictly a quantitative analysis subject? + +One aspect I am thinking about is how some technical analysis can show if the market is aware of events and how fast (if at all) it reacts when a catalyst appears to give the price a nudge. + +Another one is perhaps trying to isolate a stock's progress from the general sector growth or the market's inflation. + +Any ideas? Any reading material I could check? + +Thanks in advance + +Edit: Added the initial paragraph +Well, it took a bit, but finally here's my full analysis of Tesla. + +***Disclaimer: I have a small position in Tesla with an average price of around $150/share.*** + +The post covers the following: + +1. Introduction +2. Fundamental analysis of Tesla's automotive business, including cars sold, capacity, and future investments required. +3. Competitive landscape (profitability, debt & future growth/ROIC) +4. Historical financial performance +5. Assumptions & valuation +6. Valuation based on assumptions different than mine + +&#x200B; + +**Introduction** + +I'd describe Tesla as a car company with big dreams and impressive technology. There are bulls and bears with different assumptions about the future, but if we look backward, there's no doubt that as a company, it disrupted the industry and accelerated the transition to EVs. + +It operates in two segments, automotive (responsible for 96% of the revenue and almost all the gross profit) and energy generation and storage (attributing the remaining 4% of the revenue). + +Now, I mentioned big dreams. That's of course, coming from Elon Musk. Let's take a look at a few of them: + +1. FSD (Full self-driving capability) & robotaxis - Tesla was to some extent the first mover in this area and is likely the company with the most data. However, in my opinion, the competitors are catching up. As for the robotaxis, there's still some time until it becomes a reality and when it happens, Tesla won't be the only player on the market. +2. The "energy generation and storage" segment is to be worth as much as the automotive segment - Another big prediction that so far seems to have an incredibly low probability. Its current size is insignificant, it's not a profitable segment, and in order to become a significant portion of Tesla's value, well, it will take a long time. +3. Optimus - The humanoid robot is expected to be on sale by 2027 with a cost of $20k. This was revealed on the latest AI day and some engineers who followed the event (and are not employed at Tesla) weren't impressed. They weren't impressed by the current state of Optimus, although they were impressed by the progress made in such a short period of time. +4. Tesla will sell 20m cars annually by 2030 - This is something that we'll come back to. + +One of the jobs of Elon Musk, like any other CEO, is to be positive and optimistic about the future. That doesn't mean everything will happen nor that the timeline is accurate (especially with Elon). + +There are 110k employees at Tesla, yet the tweets of one of them seem to have more impact on the share price compared to all the work the others do. It seems as if Elon has shifted from being one of Tesla's biggest assets to one of its biggest liabilities. However, this post will not be about Elon, it will focus on Tesla as a company and its fundamentals. + +&#x200B; + +**Fundamental analysis of Tesla's automotive business, including cars sold, capacity, and future investments required.** + +Let's zoom out for a moment. It is obvious that there's a lot of stuff going on (and who knows what else will be announced in the next decade), so in my forecast, I'm expecting that the automotive segment will account for 90% of Tesla's value, leaving 10% for all the other stuff (Optimus, energy generation and storage, etc.) + +To value any car company, there are two main inputs: + +1. \# of cars sold annually +2. Margin per car + +For younger car companies, capacity is also something to be looked into. + +If we look at the statistics, the number of cars sold worldwide annually is pretty flat over time. + +2019: **74.9m;** 2020: **63.8m;** 2021: **66.7m;** 2022: **65.4m;** 2023: **71.0m (expected)** + +We can round that to 70m cars/year. + +Tesla has been growing quite fast when it comes to deliveries + +2018: **245k;** 2019: **367k**; 2020: **499k;** 2021: **936k;** 2022: **1.4m (expected - rounded)** + +So, based on the 2022 numbers, Tesla has roughly a 2% share. + +If we go back at the 20m cars/year prediction, that represents a staggering **28.5% share!** How realistic is that? Well, I'll let you be the judge. + +How about the production capacity? Currently, that's around **1.9m**. So, if Tesla wants to grow, they need to invest here A LOT. How much? Let's take a look at their historical investments: + +The Berlin factory cost around $5b and comes with a capacity of 250k cars. So, on average, Tesla would need to invest around $20k in capex to increase the production capacity by 1 car. Using the gross PPE from the balance sheet as a metric for all past investments ($43.9b) that led to the 1.9m capacity, we get to a similar outcome. Of course, not all of the $43.9b is related to manufacturing, there's a portion for R&D, general support functions, etc. + +This gives a good idea of the future investments required. If Tesla wants to increase capacity by 4m units, they need to invest roughly $80b. + +&#x200B; + +**Competitive landscape** + +In this segment, I'd like to take a look at 10+ competitors in this industry and look into quite some metrics. I'll start with what the critics normally point out, the price of the company. + +&#x200B; + +|Company|Revenue (in $b)|Market cap (in $b)|P/E ratio| +|:-|:-|:-|:-| +|Tesla|$74.9|$381.7|36.5| +|Toyota|$232.2|$188.6|10.0| +|BYD|$47.6|$96.3|51.0| +|Volkswagen|$261.2|$71.9|3.6| +|Mercedes-Benz Group|$141.4|$70.7|5.1| +|BMW|$128.9|$58.9|3.1| +|General Motors|$147.2|$47.8|5.7| +|Ford|$151.8|$46.4|5.2| +|Stellantis|$172.7|$46.1|2.8| +|Honda|$108.1|$38.8|7.9| + +&#x200B; + +Tesla's P/E is roughly 7x higher than the average of the competitors (with a few exceptions). The question that is asked over and over is, how the hell is Tesla worth so much more than Toyota when Toyota sells 10m cars a year (with Tesla 1.4m for the full 2022)? To answer that question, we need to look into 3 segments: + +1. Profitability +2. Debt +3. Future growth/ROIC + +&#x200B; + +**Let's start with profitability:** + +&#x200B; + +|Company|Revenue (in $b)|Gross profit|Operating expenses|Operating margin|Operating profit (in $m)| +|:-|:-|:-|:-|:-|:-| +|Tesla|$74.9|26.6%|9.9%|16.7%|$12,510| +|Toyota|$232.2|17.0%|9.9%|7.1%|$16,511| +|BYD|$47.6|15.1%|11.8%|3.3%|$1,547| +|Volkswagen|$261.2|18.5%|10.2%|8.3%|$21,555| +|Mercedes-Benz Group|$141.4|22.5%|11.0%|11.5%|$16,279| +|BMW|$128.9|16.5%|6.6%|9.9%|$13,079| +|General Motors|$147.2|13.6%|5.4%|8.2%|$12,025| +|Ford|$151.8|11.4%|4.3%|7.1%|$10,696| +|Stellantis|$172.7|20.2%|8.5%|11.7%|$20,173| +|Honda|$108.1|20.0%|14.4%|5.6%|$6,097| + +The companies are sorted based on their market cap. Although Tesla has 1/3rd of Toyota's revenue, they make almost as much operating profit! Why? It's obvious, they have higher margins. So, what contributes to that? A few points have to be noted: + +1. Tesla does not sell through dealerships - this allows them to have higher gross margins as there are no 3rd parties to pay. +2. Tesla famously doesn't spend money on marketing (funny enough, Elon bought a company that depends on advertising, but anyway, let's get back to Tesla) +3. Tesla could build factories from scratch, perfectly suited for EVs, while the big companies have to invest to re-purpose their existing factories. + +There are only two luxury cars that have higher operating margins than Tesla (Porsche & Ferrari), but they're targeting a very niche audience and not the mass-market. + +**Let's continue by looking at the debt of each company:** + +&#x200B; + +|Company|Operating profit (in $m)|Market cap (in $b)|Net debt (in $b)|Market cap + Net debt (EV)|EV / Operating profit| +|:-|:-|:-|:-|:-|:-| +|Tesla|$12,510|$381.7|$ (15.2)|$366.5|29.3| +|Toyota|$16,511|$188.6|$143.6|$332.2|20.1| +|BYD|$1,547|$96.3|$ (3.0)|$93.3|60.3| +|Volkswagen|$21,555|$71.9|$157.0|$228.9|10.6| +|Mercedes-Benz Group|$16,279|$70.7|$95.1|$165.7|10.2| +|BMW|$13,079|$58.9|$83.3|$142.2|10.9| +|General Motors|$12,025|$47.8|$89.2|$137.0|11.4| +|Ford|$10,696|$46.4|$97.8|$144.2|13.5| +|Stellantis|$20,173|$46.1|$ (20.1)|$26.0|1.3| +|Honda|$6,097|$38.8|$28.3|$67.1|11.0| + +Why is looking at the debt so important? Well: + +1. First of all, it isn't free. It needs to be repaid and with interest. The auto industry is known to be cyclical, but the debt doesn't really care about that. +2. The companies that are better positioned from a financial leverage perspective can afford to lower prices temporarily and steal market share. Tesla is in a great position for this, while the giants cannot afford to break even (from an operating profit point of view) +3. High leverage combined with unprofitable business leads to bankruptcy. + +So, I decided to look at this a bit differently. I wanted to check how much would one pay to acquire each company debt-free and what is the return (measured through operating profit). Now, Tesla's ratio isn't 7x higher, but less than 3x higher than the average competitor. + +Remember Toyota? It needs 9 years of operating profit to cover its net debt! Tesla costs 367m to be bought debt-free, while Toyota 332m - quite close! + +P.S. I took a shortcut for the EV calculation, it's not 100% accurate (it doesn't take into account minority interest, for example), but it's quite close. + +**Lastly, let's take a look at the last piece of the puzzle, the growth & ROIC** + +&#x200B; + +|Company|Operating profit (in $m)|EV / Operating profit|NTM revenue growth|ROIC| +|:-|:-|:-|:-|:-| +|Tesla|$12,510|29.3|45.0%|26.4%| +|Toyota|$16,511|20.1|14.5%|4.0%| +|BYD|$1,547|60.3|46.7%|7.9%| +|Volkswagen|$21,555|10.6|5.8%|6.0%| +|Mercedes-Benz Group|$16,279|10.2|3.5%|8.7%| +|BMW|$13,079|10.9|6.5%|7.0%| +|General Motors|$12,025|11.4|9.4%|6.5%| +|Ford|$10,696|13.5|5.9%|6.2%| +|Stellantis|$20,173|1.3|4.0%|19.5%| +|Honda|$6,097|11.0|24.0%|4.1%| + +It's obvious that Tesla and BYD are the exceptions when we look at the expected revenue growth for the next 12 months. + +However, what's also impressive is that Tesla has the highest ROIC - They're making the best return on their investments. All of that while also spending money on all kinds of side projects. + +In my opinion, the culture within Tesla seems to be better suited for innovation, compared to the old-school, traditional, car manufacturers. + +&#x200B; + +**Historical financial performance** + +Tesla's revenue has increased significantly, from $21.5b back in 2018 to almost $80b in the last twelve months. At the same time, the gross margin increased from 19% to almost 27%. + +The operating expenses (R&D and SG&A) have decreased as % of sales from 20% to 10%, leading to an operating margin of 17%, which is much higher than the average. + +Over the same period, they reduced their debt from $14b to $6b (while accumulating $21b+ in cash) leading to a net debt position of -$15b. + +&#x200B; + +**Assumptions & valuation** + +As mentioned above, I'm expecting that the automotive segment will account for 90% of Tesla's value, leaving 10% for all the other stuff (Optimus, energy generation and storage, etc.) + +My assumptions are as follows: + +**Revenue growth**: 35% in the next 12 months, declining to 30%, then to 25%, all the way down to 5% in year 10. By then, the projected revenue is close to **$400b (an increase of 431% vs. LTM)** \- representing roughly 6m cars per year (8.6% share) - This also means $80b in capex over time (4m additional capacity x $20k) + +Just a reminder of how Tesla's deliveries have progressed over time: + +2018: **245k;** 2019: **367k**; 2020: **499k;** 2021: **936k;** 2022: **1.4m (expected - rounded)** + +&#x200B; + +**Operating margin**: 10% for the next 2 years due to a recession, then recovery to 18% over time. + +**Discount rate:** 9.5% + +**Terminal growth rate:** 5% + +The valuation based on my assumptions is **$563b** **(179.84/share)** + +&#x200B; + +***Note: Adjustments have been made for cash/debt, unearned revenue as well as outstanding equity options*** + +&#x200B; + +Now, before anyone jumps on me, these are my assumptions and I could be significantly wrong. So, if you have other expectations, I hope the table below can help. + +**Valuation based on assumptions different than mine** + +The table below shows how the valuation changes (per share), based on assumptions regarding the revenue in 10 years, the operating margin, and how the market share / # of cars to be sold to get there. + +&#x200B; + +|Revenue/ Operating margin|16%|18%|20%|22%|Cars/year (share %)| +|:-|:-|:-|:-|:-|:-| +|250% ($262.0b)|$109.5|$125.2|$139.2|$152.2|3.5m (5%)| +|325% ($318.1b)|$129.5|$148.4|$165.5|$181.2|4.5m (6.5%)| +|431% (397.4b)|$156.3|$179.8|$201.1|$220.8|6m (8.6)| +|1670% (1.33t)|$445.6|$519.3|$589.2|$654.8|20m (28.5%)| + +The last row represents Elon Musk's crazy scenario of selling 20m+ cars per year (without even taking into account the energy generation and storage segment to be the same size as the automotive one) For that to happen, Tesla needs to grow at a rate of 35% annually for a decade. + +Based on my assumptions, Tesla is undervalued at the current price levels, however, it was significantly overvalued for a long period of time. + +I hope you enjoyed the post and apologies for the length, I wanted to make sure to cover all the points that I find important. + +I welcome disagreements on everything mentioned above. +&#x200B; + +Alright you dirty pervs, time for another installment of u/BigJimBeef's favorite post. + +You've been running wild with the bets this last fortnight, must have been the updates on the long term degeneracy got your juices flowing..... + +Just a friendly reminder that unless you do something that requires instant banning, we settle all ban accounts every 2nd friday when the post comes out. + +&#x200B; + +There has been an awful lot happening across the r/ASX_Bets universe, so settle in with a warm milk shooey and lets enjoy a Golden Dildo's worth of entertainment + +(Disclaimer: *A Golden Dildo's worth of entertainment currently equals, well, not much really*... *Unless its morning**~~star~~* *glory evaluated*) + +&#x200B; + +&#x200B; + +**UPDATES** + +&#x200B; + +&#x200B; + +\- **69,000+** members. Fuck me + +(*please note the . and not a ,*) + +&#x200B; + +\- u/WistfulWhiskers came good on the [Warm Milk Shooey bet.](https://www.reddit.com/r/ASX_Bets/comments/n3qql8/tepid_foot_milk/?utm_source=share&utm_medium=web2x&context=3) + +Suitably disgusting, moderately disturbing with a delectable hint of indecency, we like a user who comes good on a degenerate bet. + +You've started a trend it seems, Enjoy the new Flair you Mad-Lad.... + +&#x200B; + +\- Never one to let a disgusting bet idea get away from us, u/helloclaire followed suit with a [Shooey bet](https://www.reddit.com/r/ASX_Bets/comments/n4ibb1/tepid_foot_milk_2/?utm_source=share&utm_medium=web2x&context=3) of her own after **BRK** failed to hit the 10% mark. + +Points were added for suitably co-ordinated footwear/clothing ensemble... + +Points were deducted for **BRK** hitting the mark the next day, its been an emotional rollercoaster.... + +&#x200B; + +\- u/ken_oath_cunce gave us a little look back at some former [Sub Darlings](https://www.reddit.com/r/ASX_Bets/comments/myk7by/thanks_rasx_bets_for_12_months_of_stonk_tips/?utm_source=share&utm_medium=web2x&context=3) in their video shit-post. It's a bit like a '*where are they now*' thing. + +Except **ZIP**, we always seem to know where that is........... + +&#x200B; + +\- u/Nevelo gave us a wonderful rundown of [Internet Financial Terminology](https://www.reddit.com/r/ASX_Bets/comments/myuyxk/guide_to_internet_finance_terms/?utm_source=share&utm_medium=web2x&context=3), re-flaired as a Shit-post just in case someone is actually smooth brained enough to take this seriously. + +Its well worth a read and is one of my personal favorite posts for quite some time. + +This user is also the creator of the [Catching the Knife](https://www.reddit.com/r/ASX_Bets/comments/n1va2b/catching_the_knife_the_largest_australian_energy/?utm_source=share&utm_medium=web2x&context=3) series that has been popping up lately. + +&#x200B; + +\- Some lovely [Loss Porn](https://www.reddit.com/r/ASX_Bets/comments/n1umtz/holy_fuckkk_60k_vanished_in_2_days_hodl/?utm_source=share&utm_medium=web2x&context=3) has popped up courtesy of the **BRN** Prophet u/Jbent09. + +The Prophet has been quiet on the sub lately, no doubt just priming up for Brain Dips (Pending) Glorious return............ + +&#x200B; + +\- u/doomkoon4648 hit the mark of [100K down this week](https://www.reddit.com/r/ASX_Bets/comments/n51ymf/market_open_thread_for_general_trading_and_plans/gwyuixj?utm_source=share&utm_medium=web2x&context=3) from ATH on their **VML** big balls purchase. (*Note that this is a paper loss from an ATH, not deep red on their purchase price.*) + +This may sound devastating, however the user has a detailed, researched thesis and is sticking to the plan, topping up more when the opportunity arises. + +For all those playing at home, this one is worth following. Will research, diamond hands and balls of steel pay off or will they be forever bag-hodling? + +Hey u/doomkoon4648, keep us up to date please. + +&#x200B; + +\- u/Murranji has been busy, creating a series of posts on various aspects of [Technical Analysis](https://www.reddit.com/r/ASX_Bets/comments/n68ifi/ta_post_how_redistribution_trading_ranges_work/?utm_source=share&utm_medium=web2x&context=3). + +If you're interested in learning to read the tea leaves, its well worth reading. + +&#x200B; + +\- u/papqa demonstrated that sometimes hodling can work out, with some [nice gains](https://www.reddit.com/r/ASX_Bets/comments/n6r480/did_alright_here_i_reckon/?utm_source=share&utm_medium=web2x&context=3) on their **CHN** purchase. + +&#x200B; + +&#x200B; + +**NEW BETS** + +&#x200B; + +&#x200B; + +\- Kicking things off, well kicking shoes off seems to be the theme lately and its been taken up by u/theoriginaluser01 and u/HCFaktor betting [another milk shooey](https://www.reddit.com/r/ASX_Bets/comments/n51ymf/market_open_thread_for_general_trading_and_plans/gx2yiln?utm_source=share&utm_medium=web2x&context=3) on **RAC** touching or not touching **$2** in the next 3 months. + +&#x200B; + +\- u/ChalkyAus has bet a weeks ban on [Pen closing above 15 today](https://www.reddit.com/r/ASX_Bets/comments/n4ay2x/market_open_thread_for_general_trading_and_plans/gwvj5cx?utm_source=share&utm_medium=web2x&context=3). + +We shall see when their **PEN15** is strong or....flaccid. + +&#x200B; + +\- u/Same_application_444 has one of the more inventive bets I've seen for a while, claiming if their buy in price of **YOW (.049)** does not [Double by June 1st](https://www.reddit.com/r/ASX_Bets/comments/n4dhk4/if_my_investment_in_yow_doesnt_double_by_cob_1st/?utm_source=share&utm_medium=web2x&context=3), then their housemate will pour a melted Yowie.... look its fucking weird just read the link. + +&#x200B; + +\- not to be outdone, u/debtandregret1984 has taken another bet stating u/yaals will not [double their money](https://www.reddit.com/r/ASX_Bets/comments/n3qsod/premarket_thread_for_general_trading_and_plans/gwrihd0?utm_source=share&utm_medium=web2x&context=3) on **YOW** within 3 months, or they will eat a Yowie toy. + +&#x200B; + + \- u/becify pledged to donate $500 to the Smith family if [WOA doesn't hit $2](https://www.reddit.com/r/ASX_Bets/comments/mwp3vc/scam_dreams_ziptards_unite_a_mutated_mission_bans/gvs0vnq?utm_source=share&utm_medium=web2x&context=3) by Dec 31st. + +A notable sentiment from our resident nudist. + +&#x200B; + +\- u/Rosencrantz1710 has bet a week in the hole unless [Next Investors Send a pump email about GAL before May 7th and the prices touches 0.362 that day](https://www.reddit.com/r/ASX_Bets/comments/mwp3vc/scam_dreams_ziptards_unite_a_mutated_mission_bans/gvre62x?utm_source=share&utm_medium=web2x&context=3). + +&#x200B; + +\- u/Imthewifesboyfriend has added their colors to the [JXT vs DW8 bet](https://www.reddit.com/r/ASX_Bets/comments/monb6t/dw8_ceo_dean_taylor_interview/gu5759i?utm_source=share&utm_medium=web2x&context=3), providing yet another, ahhh, twist I guess by coupling a rectally administered [Whisky shot](https://www.reddit.com/r/ASX_Bets/comments/mwp3vc/scam_dreams_ziptards_unite_a_mutated_mission_bans/gvjmiy5?utm_source=share&utm_medium=web2x&context=3) into the mix. + +&#x200B; + +\- Never one to be out-dumbfucked, u/reecej_nz has upped the ante on the above **JXT vs DW8** bet, now taking on a months ban for every user that is willing to go into battle, assuming they [lose the day.](https://www.reddit.com/r/ASX_Bets/comments/mwp3vc/scam_dreams_ziptards_unite_a_mutated_mission_bans/gvmfm6p?utm_source=share&utm_medium=web2x&context=3) + +&#x200B; + +\- u/_PixelRage has a bet going with the **Mods**, their once starry eyed relationship with **KSS** is a thing of distant memory, now the Rocket-Man has declared **KSS** will [Crash and Burn](https://www.reddit.com/r/ASX_Bets/comments/mwqasn/weekend_thread_for_general_discussion_and_plans/gvjm18u?utm_source=share&utm_medium=web2x&context=3) by May 31st or they will accept a 2 week ban. + +&#x200B; + +https://preview.redd.it/a6zfkvku8iw61.png?width=1920&format=png&auto=webp&s=b275d1d3b64059885be708b47d581d82eec339bc + +&#x200B; + +&#x200B; + +\- u/AdHot6827 has a complicated multi bet running. Its about **IXR**, I cant remember most of the details so read all about it here [here.](https://www.reddit.com/r/ASX_Bets/comments/mzbigt/market_open_thread_for_general_trading_and_plans/gw0by3g?utm_source=share&utm_medium=web2x&context=3) + +If one of you gambling folk can interpret and tell me whether we need to ban this one or not I'd sure appreciate it.... + +&#x200B; + +\- u/ybsh_ also is feeling lucky about **IXR**. This one was for a [Wednesday Announcement or a weeks ban.](https://www.reddit.com/r/ASX_Bets/comments/mysjqb/premarket_thread_for_general_trading_and_plans/gvwqstp?utm_source=share&utm_medium=web2x&context=3) + +&#x200B; + +\- u/crashworx bet a weeks ban that **IXR** [scoping study](https://www.reddit.com/r/ASX_Bets/comments/mwi9c8/market_open_thread_for_general_trading_and_plans/gvjdv0b?utm_source=share&utm_medium=web2x&context=3) would come out on Monday. + +&#x200B; + +\- u/autodidact31 jumped on the monday **IXR** [scoping study](https://www.reddit.com/r/ASX_Bets/comments/mwi9c8/market_open_thread_for_general_trading_and_plans/gvje4cv?utm_source=share&utm_medium=web2x&context=3) betting $50 on the biggest roughie horse, running on Tuesday. + +User came through with [the goods](https://www.reddit.com/r/ASX_Bets/comments/mysjqb/premarket_thread_for_general_trading_and_plans/gw0p59y?utm_source=share&utm_medium=web2x&context=3) unlike their picks. + +&#x200B; + +\- u/Baked-Potato22 made the **IXR** scoping study bet a 3-way, [betting a weeks ban](https://www.reddit.com/r/ASX_Bets/comments/mwi9c8/market_open_thread_for_general_trading_and_plans/gvjf9hx?utm_source=share&utm_medium=web2x&context=3) and potentially one of the most awkward *menage a trois* scenes A sub-reddit has ever contemplated, I don't even want to speculate on how a scoping study 3-way translates. + +&#x200B; + +\- u/Levvy90 bet a weeks ban **IXR** would [drop another 15%](https://www.reddit.com/r/ASX_Bets/comments/n3qsod/premarket_thread_for_general_trading_and_plans/gwuem00?utm_source=share&utm_medium=web2x&context=3). + +u/Hodlmelongtime decided to [jump in](https://www.reddit.com/r/ASX_Bets/comments/n3qsod/premarket_thread_for_general_trading_and_plans/gwufryt?utm_source=share&utm_medium=web2x&context=3) on the bet as well. + +Are they heading to **Plucky's** domain at r/ASX_banned? + +&#x200B; + +That pretty much rounds out our current crop of **IXR** disciples, ticker bets seem to come in waves around here. + +&#x200B; + +\- u/socialselfsabotage has declared **Z1P** the next APT betting a months ban that Z1P is [$10 by Grand Final](https://www.reddit.com/r/ASX_Bets/comments/my3msq/premarket_thread_for_general_trading_and_plans/gvsxi2o?utm_source=share&utm_medium=web2x&context=3). + +Username, it would appear, definitely checks out.... + +&#x200B; + +\- u/TheDapperBull has bet **VML** to close above $0.069 by friday or [a weeks ban](https://www.reddit.com/r/ASX_Bets/comments/mzjdmj/premarket_thread_for_general_trading_and_plans/gw16ooh?utm_source=share&utm_medium=web2x&context=3). + +We debated offering a 420 day ban, just to be appreciative of the numbers scenario but figured hodlers are already going through enough pain.... + +&#x200B; + +\- u/Benny90210 took an alternate bet stating if **VML** was $0.070 or above on [fridays close](https://www.reddit.com/r/ASX_Bets/comments/mzjdmj/premarket_thread_for_general_trading_and_plans/gw19qy6?utm_source=share&utm_medium=web2x&context=3), they would take a weeks ban. + +&#x200B; + +\- u/TaxExtreme1460 has finally achieved a life goal, getting into the betting with a [FOD to touch 0.045](https://www.reddit.com/r/ASX_Bets/comments/mykud5/market_open_thread_for_general_trading_and_plans/gvvqyub?utm_source=share&utm_medium=web2x&context=3) by Friday 30th or they will take a 69 day ban. + +User has spiced up the bet, also stating they will donate $1000 to the Royal Children's Hospital if they hit said target. + +&#x200B; + +\- u/debtandregret1984 has bet that their **BRK** holding will be green and their portfolio [up by 20%](https://www.reddit.com/r/ASX_Bets/comments/n02sek/brk_yolo_update_next_week_spud/gw48sd9?utm_source=share&utm_medium=web2x&context=3) by Wednesday or they will cop 7 days ban. + +Let the record show that the bet has [Been won](https://www.reddit.com/r/ASX_Bets/comments/n592tz/brk_yoloban_bet_update/?utm_source=share&utm_medium=web2x&context=3), congrats u/debtandregret1984, enjoy the new flair... + +&#x200B; + +\- u/youreafuckwitttt has emerged from their den putting money where their mouth is stating **APT** will not go above $**125** within the next month, or [theyll take a months ban](https://www.reddit.com/r/ASX_Bets/comments/n0xdsb/see_yous_on_the_way_down/gw9q24p?utm_source=share&utm_medium=web2x&context=3). + +&#x200B; + +\- u/HyperIndian has become a man, betting **MGT** will go to $**0.12** by the [30/6/21](https://www.reddit.com/r/ASX_Bets/comments/n1hmug/market_open_thread_for_general_trading_and_plans/gwd5x0s?utm_source=share&utm_medium=web2x&context=3) or a 6 month ban. From memory this user won their last bet with the **Mods**, are we about so see a betting run that rivals u/itsdankreddit's winning streak? + +&#x200B; + +\- u/Mysteriour-Ball-6640 has bet **IVZ** to close above $0.2 by [today](https://www.reddit.com/r/ASX_Bets/comments/n31scg/premarket_thread_for_general_trading_and_plans/gwn7iaz?utm_source=share&utm_medium=web2x&context=3) or they will take a 2 week ban. + +Why, who can know why.... + +&#x200B; + +\- u/Maleficent_8448 has bet a [6 month holiday](https://www.reddit.com/r/ASX_Bets/comments/n3j4ab/market_open_thread_for_general_trading_and_plans/gwqzhgb?utm_source=share&utm_medium=web2x&context=3) on the BPH approval being done by the End of June. + +&#x200B; + +\- On the back of the above bet, u/Jcit878 has thrown down as well, betting **BPH** approval by COB [May 31st](https://www.reddit.com/r/ASX_Bets/comments/n3j4ab/market_open_thread_for_general_trading_and_plans/gwr0f3v?utm_source=share&utm_medium=web2x&context=3) or else a 1 month ban. + +The mythical approvals date has banned many a Autist, has the time finally arrived? + +&#x200B; + +\- u/Crashworx bet a years ban if **GBR** did not at least [touch](https://www.reddit.com/r/ASX_Bets/comments/n4ay2x/market_open_thread_for_general_trading_and_plans/gwuihrf?utm_source=share&utm_medium=web2x&context=3) 20% up. + + As with all touching, we can only hope it will be inappropriate, especially if you're risking a year in the Shadow world. + +&#x200B; + +\- u/UhOhNoOnion has bet **LOT** [to touch 20c](https://www.reddit.com/r/ASX_Bets/comments/n5amy0/premarket_thread_for_general_trading_and_plans/gx0ovrt?utm_source=share&utm_medium=web2x&context=3) by Friday or a weeks ban. + +Again, Inappropriate touching blah blah blah...... + +&#x200B; + +\- u/destined2bepoor has bet **STX** [to be 60c](https://www.reddit.com/r/ASX_Bets/comments/n4ivj9/premarket_thread_for_general_trading_and_plans/gwvtfwj?utm_source=share&utm_medium=web2x&context=3) by December 23rd or they'll cop a weeks ban. + +Typically, we don't take long range bets unless the gambler up's the ante, but with a username like that you've got to wonder where this is a self fulfilling prophecy thing, a self care insurance policy or just plain Autism. + +&#x200B; + +&#x200B; + +**BANS** + +&#x200B; + +&#x200B; + +\- u/xxt3nt4c10n owes us some [proof](https://www.reddit.com/r/ASX_Bets/comments/n1p577/weekend_thread_for_general_discussion_and_plans/gwixiai?utm_source=share&utm_medium=web2x&context=3)... tick tock + +&#x200B; + +\- u/miamivicegc owes us some proof on a claim of a [$600k loss](https://www.reddit.com/r/ASX_Bets/comments/n5ck7n/can_anyone_beat_this/gx0r5a4?utm_source=share&utm_medium=web2x&context=3) + +&#x200B; + +\- all the bans from [Last Time](https://www.reddit.com/r/ASX_Bets/comments/mwp3vc/scam_dreams_ziptards_unite_a_mutated_mission_bans/?utm_source=share&utm_medium=web2x&context=3) have been handed out. + +&#x200B; + +\- u/BillyZaneTrain requested a 2 week ban. Something about purple spandex and a new film........ + +&#x200B; + +\- u/Phatb0y was banned for a [Survey post.](https://www.reddit.com/r/ASX_Bets/comments/mys7as/yes_maybe_no_no/?utm_source=share&utm_medium=web2x&context=3) + +Yes you deleted it, but not before Blade Runner got ya. Got us feeling all nostalgic, haven't had a survey ban for a while now, we appreciate your sacrifice. + +&#x200B; + +\- A fucking lot of alts have been nuked by Blade Runner, and there have been more than a few **Perma Bans** for spammy shit. + +&#x200B; + +\- **ATTENTION**: + +u/Puzzleheaded-Tea3221, + +u/GNUandLinuxBot, + + u/JonathonFreeman56, + +u/ogbullgang, + +u/SnooTomatoes7959, + +u/CookiePsychological1, + +u/TheLCFPro, + +u/cookie8891, + +u/ahmedaz + +etc....... + +&#x200B; + +You're all flogs, fuck off with the spam rubbish. + +&#x200B; + +&#x200B; + +&#x200B; + +**TLDR:** θάνατος στους spammers !!!!! +This is the official $GME Megathread for r/Superstonk. 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According to Axios' sources, he is considering a change to Amazon's tax status or a crackdown down through antitrust rules. + +> The Supreme Court is already considering a case that could give states more power to collect sales tax on online retailers. + +> While Amazon already imposes the applicable state sales tax on goods it sells, when a third-party seller uses the platform, it is up to that seller to collect sales tax. Many third-party sellers on Amazon do not collect those taxes. + +> Trump hasn't been shy about his distaste for Amazon and its CEO, Jeff Bezos, previously tweeting that the retailer is hurting the US Postal Service and attacking Bezos for his ownership of The Washington Post. + +> "Amazon is doing great damage to tax paying retailers," Trump tweeted in August. "Towns, cities and states throughout the U.S. are being hurt - many jobs being lost!" + +> Concern over Amazon's effect on the American retail landscape is widely held. But Trump's grumblings about the company's relationship with the US Postal Service seem unfounded, given that much of the USPS' financial woes come from funding mismanagement, pension obligations, and the non-package side of its business. + +> According to Axios, Trump has also soured on Amazon in part because fellow real-estate developers have complained to Trump that the company is helping to kill off brick-and-mortar retailers and malls. + +> Axios said the president did not have a clear plan to go after the company yet. + +> Following the report, Amazon's stock fell roughly $64 a share, or 4.3%, in premarket trading to $1,433.05 a share. + +http://www.businessinsider.com/trump-amazon-wants-tax-antitrust-change-jeff-bezos-2018-3 +Your markets are run by bots. Now your daily threads are too. + +&#x200B; + +This thread is for plans and thoughts prior to the market open period. + +Maybe use this time to read the [wiki](https://www.reddit.com/r/asx_bets/wiki/index/) [.](https://styles.redditmedia.com/t5_2hqqj5/styles/communityIcon_41pmnaqp4zn41.png?width=256&s=59bf38425fb316fdcba30365b272a5f19352f370) + +&#x200B; + +Posts relating to the "Is /r/ASX_bets about finance or effect your mental health?" etc will lead to a ban of the mods chosing. [You have been warned](https://www.reddit.com/r/ASX_Bets/comments/l0l9et/the_does_asx_bets_effect_your_finances_emotions/?utm_medium=android_app&utm_source=share). + +&#x200B; + +[We have an active official/unofficial discord. It's open to all discussions, stonks related and non-stonks related](https://discord.gg/ywAGqfUAQE). +Your markets are run by bots. Now your /r/Asx_bets daily threads are too. + +Read the [wiki](https://www.reddit.com/r/asx_bets/wiki/index/) people[.](https://styles.redditmedia.com/t5_2hqqj5/styles/communityIcon_41pmnaqp4zn41.png?width=256&s=59bf38425fb316fdcba30365b272a5f19352f370) + +[Posts relating to the "Is /r/ASX\_bets about finance or effect your mental health?" etc will lead to a ban of the mods chosing. You have been warned.](https://www.reddit.com/r/ASX_Bets/comments/l0l9et/the_does_asx_bets_effect_your_finances_emotions/?utm_medium=android_app&utm_source=share) + +Automoderator may provide "Guidance" for Lazy and zero effort posting. + +[We have an active official/unofficial discord. It's open to all discussions, stonks related and non-stonks related.](https://discord.gg/ywAGqfUAQE) +Your markets are run by bots. Now your Weekend threads are too[.](https://styles.redditmedia.com/t5_2hqqj5/styles/communityIcon_41pmnaqp4zn41.png?width=256&s=59bf38425fb316fdcba30365b272a5f19352f370) + +Read the [wiki](https://www.reddit.com/r/asx_bets/wiki/index/) people. + +[Posts relating to the "Is /r/ASX\_bets about finance or effect your mental health?" etc will lead to a ban of the mods chosing. You have been warned.](https://www.reddit.com/r/ASX_Bets/comments/l0l9et/the_does_asx_bets_effect_your_finances_emotions/?utm_medium=android_app&utm_source=share) + +[We have an active official/unofficial discord. It's open to all discussions, stonks related and non-stonks related.](https://discord.gg/wsNDGTf5QH) +Still so far from my goals, but im happy nevertheless because i posted earlier that all my ccs were maxed out and thanks to the motivation yall gave me i was able to get up and make my money. I have no money left in my bank account other than for food and gas but im happy and feeling content. If i did it once i can do it again and again to end this cycle of poverty. + +Edit: hooory shizz that blew up!! Thanks for all the support and more than 69 Nice comments. Next stop 42.069% +"“This is very much like the bubble in synthetic asset-backed CDOs before the great financial crisis in that price-setting in that market was not done by fundamental security-level analysis, but by massive capital flows,” + +Basically people just throwing money in the market indiscriminately without studying the fundamentals and creating unrealistic cash in-flows for the companies listed for example in the S&P500. +My dad was terminated this morning from a job he has been at for 20+ years. This termination was justified as he got in 2 accidents in 1 year which warrants termination. My parents aren't financially smart aka why my dad is 73 and working full time. He still needs money to survive and I'm not sure who would be willing to hire someone at his age? Any advice or suggestions? Any resources that would be of help? He is a veteran in the state of Massachusetts. Thank you all in advance. I'm not sure how to help or where to turn and I feel scared and alone. Thank you in advance. + +Edit: I am so overwhelmed with all the advice and support. I'm trying to read and respond to every comment. Thank you all so much. You are all a light during this dark time. Thank you. + +Second edit: I didn't expect this to blow up. This is the most social interaction I've had in years 😂😂. I am compiling a list of questions to sit down and ask them as well as advice and job suggestions you all have given me. Thank you all very much! I wish you all health and happiness. +Parag Parikh Flexi Cap Fund's AUM has been swelling up for the past 1 year. It's current AUM is close to 19K Cr. +As per government regulations a fund can't have more than a billion dollars invested outside India. PPFCF currently maintains about 30% of its portfolio in foreign stocks. +As per current rules and PPFCF's portfolio it will reach its foreign investment ceiling upon reaching 25K Cr AUM. The rate at which its AUM is growing, it can be expected to reach this level by July next year. +Even if the government revises its regulations, can this massive AUM affect PPFCF's ability to generate good returns? If you belive PPFCF is not a great fund for the future what other flexi cap fund do you recommend? + Before I share the medium post link, I'll quickly address something. It took about 10 days for me to structure my notes in a way that was readable and still descriptive, but it still turned out to be an hour long read and was mostly full of lingo in order to consolidate that much information that normies wouldn't have understood. On some persuasion from IRL folks, I had to cut down a lot of stuff and change the language from lingo to plain english that could be understood by most people. I had to attempt to explain a few things that netted the word count even more. In hindsight perhaps a medium post was not the best idea and maybe I should have just posted my earlier draft which goes much deeper analysis into every segment that ITC's involved in. I still have that draft and may post it on here or discord if there's interest around ITC at all. + +**TLDR**; Earlier draft had too many things, had to cut down on a lot of details, stuck to stuff that related only to my investment thesis. May post other stuff in another post/reddit but will be difficult to structure it any reasonable form. + +[Link to the medium post](https://medium.com/@agnanidivyansh/itc-e90752a078a6) + + Some stuff that I cut down on, if any of these get interest here I'll post it on discord and maybe on another post - + +1/ business strategies other than those mentioned + +2/ dynamics of contribution of different segments to topline and bottomline over the last few years, reasoning behind it, and a forecast + +3/ detailed taxation analysis, why taxation doesn't work, how the illegal cigarette market works + +4/ why it'll be prudent for the govt to ease taxations and regulations now, even though they've been taxing cigs heavily the past few years + +5/ supply chain stuff behind itc, much more details into backward integration and echoupal network, their triple bottomline philosophy + +6/ why net margins scaling is an eventuality and a case study of HUL in its earlier days going through the same expansion of margins + +before anyone asks, the segmental data on screener.in has some issues when it comes to FY14 & FY15, took the data from ARs instead +Welcome to the Daily General Discussion thread of /r/EthTrader. + +Find the latest Daily Altcoin Discussion thread by selecting the top result on this [search page](https://www.reddit.com/r/ethtrader/search?q=Daily+Altcoin+Discussion&include_over_18=on&restrict_sr=on&t=all&sort=new). + +*** + +The thread guidelines are as follows: + +- Please refrain from discussing non-Ethereum related tokens here. You are welcome to discuss altcoins in the Daily Altcoin Discussion thread. +- All sub rules apply here so please review our **[rules page](https://www.reddit.com/r/ethtrader/about/rules/)** to become familiar with them. The rules page is also linked in the announcement bar above. +- If the top page becomes overloaded with memes, all but the top two voted may be removed. If we need to remove a bunch of memes from the top page, post memes in this thread first and upvote the best so the mods know which ones to keep + +*** + + Resources and other information: + +* Newcomers who have basic questions about Ethereum can find answers by visiting /r/EthereumNoobies or our Ethereum Education wiki page, [see here](https://www.reddit.com/r/ethtrader/wiki/education). + +* To view live streaming comments for this thread, [click here](https://reddit-stream.com/comments/auto). Account permissions are required to post comments through Reddit-Stream.com. + +*** + +Enjoy! + +I make great money on one income (USA, ~200k) and despite being in what I perceive to be a top income bracket I’m unable to find housing in my budget. Houses in my area go for around 800+. Will house prices ever come back to reality or do I need to give up on this area and move? How do I plan around this uncertainty? +German ape with smooth brain here. + +The German Broker "Sparkasse" has updated the number of outstanding shares. + +&#x200B; + +[Outstanding shares see circle and exclamation mark](https://preview.redd.it/rwgyip45gt571.jpg?width=975&format=pjpg&auto=webp&s=9e642d6680dfbe458b0829fbe148529171cc5bea) + +&#x200B; + +This is the first time I've seen such a high number of shares outstanding 😮 + +After all, the latest "official" status from the official filing is as follows: + +As of June 1st 2021 Outstanding Shares numbered 71,815,131 shares. That number includes 2,435,881 restricted shares. + +&#x200B; + +https://preview.redd.it/w7yo3axxws571.jpg?width=1030&format=pjpg&auto=webp&s=ef56f5c7e661812d7dfefaf4365046add40a9eee + +If GameStop sells all 5 million shares then the new outstanding Shares will be 76,815,131. + +&#x200B; + +https://preview.redd.it/php561z0xs571.jpg?width=521&format=pjpg&auto=webp&s=91cb5c6f347a337d43223f36da47cc1c9df049a7 + +The „Sparkasse“ is damn close 😬 so close that the difference is EXACTLY 300,000 shares. Exactly to the share. That can't be a coincidence ! + +Be nice to each other. Apes together strong. + +&#x200B; + +EDIT: + +Note from u/vuljanov: " Just for clarification: Sparkasse ist one of the biggest German Banks and owned by the german districts. They have over 200.000 employees. They have a reputation to be serious. So this is not a small shitty neobroker. But for sure, this doesn't necessary means the figure is correct. But I consider it: BULLISH! " + +&#x200B; + +EDIT 2: + +The pronunciation of Sparkasse is "Spar - Kasse", which means "savings bank", "savings cashbox" or "savings cashier" 😅 +So I tried to post this on r/investing and r/stocks but I don't think I meet their karma requirements so I am gonna start this post here. + +This post is gonna be long and in order to understand it, you need to understand how market makers works. If you don’t understand that concept, that’s fine. A simple google search will yield sources better than me, that can provide you a basic understanding of market makers and short selling. So try doing a quick search to educate yourself then come back here + +# The GME-market wide Correlation + +So for anybody that has been paying attention to the market charts since December, it has become very obvious that GME is inversely correlated with the rest of the market. + +Hence, when the market has major red days across multiple sectors, GME is still green among a sea of red. + +And when GME goes down the rest of the market goes up. Anybody with a basic broker app can look at the 3 month charts and see this correlation. + +When you align charts of GME since December, with most major securities on the NYSE and especially within the Nasdaq, it’s like looking at a heart beat scan and this heart beat is rapidly heading towards major cardiac arrest + +# So why is this happening? + +Well the simplified explanation is this. When this squeeze bleeds the financial institutions (like Melvin capital for example), it forces them to sell off their long term positions across the whole market or else they risk getting margin called. + +So for example, when GME goes up 10 points they gotta liquidate millions of dollars in their AAPL positions to pay off their short position. This is pretty basic stuff + +# But this isn’t a normal Short Squeeze + +The main talking point across all of the investing subreddits and news outlets, was the fact that GME’s short percentage reached a height of **140%** + +But what does a 140% float mean? + +Did the hedge funds short/borrow more shares than even existed? + +Well yes, that’s called naked shorting but it’s more complicated than that. + +# How Naked Shorts work + +When a naked short is created, it basically creates a derivative of a real share for the borrower. So when you see 140% short percentage that doesn’t mean all available shares of GME were borrowed for shorting, it means when these institutions (Melvin) heavily shorted GME, the Market Makers (Citadel) **created** shares out of thin air, and **tethered** them to the real shares that were borrowed. These made up shares are synthetic shares, they don’t actually exist but once they are created they are then traded as if they are real shares. + +This process sounds absurd and more like a conspiracy but this is really how it works and how all security derivatives have always worked on the market and this process was further confirmed in the GameStop hearing today by Dennis Kelleher. I believe you can see this conversation within the first hour of the hearing, sorry I don’t have a time stamp but today’s hearing is worth watching if you have the time. + +# The Big Short + +So an easy way to understand this is like comparing these naked shorts to “Synthetic CDO’s” from the 2008 crisis. I’m using synthetic CDO’s as an example because they are a financial derivative that most people are familiar with from the movie, “The Big Short.” These naked short derivatives basically function in the same manner as synthetic CDO’s. + +So market makers like Citadel and financial institutions like Melvin Capital, trade these synthetic shares back and forth on the market as if they were real shares. + +This would mean these financial institutions have become quite leveraged swapping these synthetic shares back and forth all over the market because in reality, **they are trading an imaginary security that is directly correlated with a real one, and the real borrowed shares are already losing them money** + +# Now to talk about the current squeeze + +It is dangerous to take on a short position because you have taken a position in a trade with **Infinite risk**. This is how short squeezes happen, if the price is driven up, the short seller has to take money out of their pocket to pay the lender, which then further increases the price of a share, and this back and forth is the driving force for a squeeze. + +The current price of GME is obviously a result of a short squeeze. Anybody with a brain knows that GME is not fundamentally worth its current price of this post, at $215/share, but it’s price has rocketed up because the short sellers have to buy back their borrowed shares which then propel the price further up. + +# But here is the the important part + +The current squeeze is only a product of the real shares borrowed, the naked shares have not come to maturity yet even tho they are directly tethered to the real shares because the **synthetic shares only become “real” when the short position completely closes or is margin called.** + +This means, the synthetic shares will act like a multiplier upon what will already be an absurd number. + +So you don’t need to be Albert Einstein to see that the final number on this squeeze will be truly ridiculous, once the synthetic shares come to fruition. + +We already know these synthetic shares have no intrinsic value because they are tied to the real borrowed shares, and those borrowed shares are already costing financial institutions serious money. But that doesn’t stop these synthetic GME shares from getting traded around by market makers because they are treated as if they are real shares. + +So The MM’s are essentially playing a game of hot potato right now, except they are actually passing around an Atomic Bomb. + +# Now why it’s scary for the rest of the market + +So if you’ve been following to this point, you might be able to see that the final payday for GME could be historic. + +**Which sounds great for GME holders but here is the reality of this equation... I don’t think there are any institution that will be capable of footing the final bill for the GME shorts. The final payout would likely bankrupt Jeff Bezos if he was in this short position.** + +So this is gonna likely result in these financial institutions committing massive sell offs (I’m talking in the billions of dollars) across the entire market in order to pay off the final fee, and I don’t think these inevitable sell offs will provide enough liquidity to payout the short cost. + +I believe, with great conviction, when GME truly takes off it will cause, a major market-wide correction across all sectors. + +# The Conclusion + +Nobody can say what the exact date of the MOASS will be and what the final GME number will be because nobody but the shorts know the details of their deals (maybe the government should consider forcing more disclosure in the short market). + +I can speculate and say that the MOASS will likely occur by the end of April because ~~the way these contract expiry dates are usually set~~ the number of option contracts set around those dates. And It’s possible the financial institutions could have repositioned their shorts further down the road to buy more time. + +However, I can say 2 things with absolute certainty + +* We are witnessing history, this whole thing is already resulting in many academic studies, further government intervention, and future movies/documentaries +* **There are no retail brokers in America that will be capable of paying out retail investors when GME reaches the peak so we will see January 28th happen all over again.** + +I do not care what broker you have, fidelity, E\*TRADE, Schwab, or robinhood, etc. They are gonna be forced to shut down GME buys (and very possibly sells) just like RH did on January 28th. When the number spikes again nobody will have the liquidity to move the money required for the MOASS + +**And I know everybody hates Robinhood but in my personal opinion, I believe they are just the patsy for this whole thing.** The entire worth of most retail brokers will not be enough to payout the MOASS to retail investors so I can guarantee we will see traders shut down GME buys when it takes off like in January. + +# THIS WILL NOT BE THE BROKERS FAULT, THE MARKET MAKERS AND HEDGE FUNDS SHOULD BE THE ONES FOOTING THE BILL, EVEN IF THAT MEANS SELLING OFF EVERY PIECE OF FURNITURE IN THEIR BUILDING TO DO SO. + +Mainstream Brokers only have so much money to provide the liquidity needed to move billions of trades a day, they are not equipped to deal with something this insane. + +# So Why did I type up this long ass post? + +If you think I’m just a crazy person, that’s fine. I don’t take it personally. I’m just making this post because I believe this current squeeze is mainly responsible for the market wide volatility we have witnessed these past 3 months. I just wanted to make this post to bring caution to retail traders. + +I know GME is a “meme stock” so it’s easy to discredit and it’s fun watching this David vs Goliath story but I believe this will have very real effects across the whole market so proceed with caution on your trades until this squeeze reaches a conclusion, **ESPECIALLY IF YOU DEAL WITH NAKED OPTIONS** + +If you read this whole thing, thanks. Please let me know if there is any corrections I should make. + +TLDR: just skim the bold points ya lazy fuck lol + +Edit: gonna have to turn off notifications now lol. So I’m sorry if I don’t reply, maybe later. + +But most importantly I’m no professional, I’m just a guy with an interest in the world of finance. So don’t take this post as gospel. I wanted to start this thread for the discussion and while I do strongly personally believe the MOASS is real, I appreciated the counter points. + +Thanks for the laughs and genuine discussion + +April 6th Edit: I fear this post may have underestimated just how bad the coming economic crash will be. I now realize how this is all bigger than GameStop. + +Sigh... +[Newbie investors: 'I didn't know I'd lose money so fast'](https://www.bbc.co.uk/news/business-53201204) + +> "I started off with €100. I felt super-confident watching the ticker as stocks and shares were going up and down," he said. He piled into oil at $16 a barrel, thinking the price was sure to go up, but it fell almost immediately to $14. I didn't have enough money to cover the loss, so it crashed out my position and I got an email. I had no idea what had happened. I thought I was owning barrels, but I wasn't, I was borrowing. It was the fastest €100 I'd ever spent." +Edit: I just wanted to add an edit to address you guys because I can’t keep up with all the reply’s. I am so grateful that some of you have found these tips useful! I never would have expected over 1k people to see this. These things have made a huge difference in my life and I hope maybe they do the same for you. Yes - as a few people mentioned.. some of the things listed are definitely more involved and time consuming. Not all of these things will work for everybody, and that’s okay. We all start somewhere, we all come from different paths, and all have different goals/needs. Nonetheless, the impact they made on my life was huge and I wanted to share that. We’re all looking for ways to help improve our financial situations and better our financial awareness - with that being said, be kind. No need for rude comments below to others. Thank you all for the awards and love! + +1. Canceled every premium service we had (e.g. Pandora Plus, Spotify Premium, Weather Plus) Saved us almost $60 a month. +2. Switched phone plans to a prepaid option with a smaller wireless company that uses the same towers as verizon. Saved us $70 a month. +3. Kept only one streaming service (Netflix) and asked friends/family to share accounts and vice versa. Saved $24 a month. +4. Sold unused electronics/video games at pawnshops, eBay and Facebook market place. Earned about $150. +5. Went to our local food pantry about once a month for a staple food box when we were really struggling. +6. Used the app “Basket.” A grocery store tracking app that uses your zip code to find the cheapest items in your area at different stores. +7. On grocery shopping days, we went to multiple stores instead of one to get the cheapest items we needed at each (used the basket app to find these) +8. Started buying knock offs and non brand name items (e.g. Kroger brand bread, knock off crackers, knock off cereal) +9. Got a savers/discount account at every single store we used regularly for the gas points. (I get like 30-40 cents off per gallon every 1-2 weeks) +10. When I didn’t have the gas points, I would use the app “Gas Buddy” to find my areas cheapest gas. +11. Double up on coupons and cash back using Ibotta, coupons.com and other retailer coupons. +12. Sold unused clothing in decent condition to platos closet and other shops similar near me. +13. Did a lot of the survey sites on r/beermoney to earn Amazon gift cards. These are hard to make money on sometimes, but I found that the game downloads pay out like $10-40 a piece for reaching a certain level. +14. Used these Amazon gift cards, paired with Honey for discounts to buy household items that were on sale on Amazon. (E.g. cleaning products, dog items, toilet paper.) +15. Switched out disposable products for reusable. You kind of have to spend money to get these, but in the long run it saved us. (E.g. We replaced the swiffer with another option that has reusable machine washable pads and refillable solution tank) +16. Did doordash on the weekends for a few months. +17. Did instacart on the weekends for a few months. +18. Donated plasma. +19. Started cooking in larger portions with cheaper ingredients - like chili. It would feed my husband and I for 4-5 days and beans are cheap. +20. Avoided eating out as much as possible. +21. I have hypoglycemia, so I started adding snacks to my purse before we go anywhere.. so I’m not out and about and need something to eat. Helped me stop buying snacks while out. +22. If we had to go out to eat for any reason (family event, bday etc) we would check if they had any deals, or coupons. +23. We started using Rxsaver to find the cheapest pharmacy in our town. There are also similar websites that give rebates on prescriptions for humans and your furry friends too. +24. Got Apples Family Plan. It’s free to use and allows you to share services and apps between family members/friends. I didn’t even know this existed. Some of the services you still have to pay for(regular price) but you can get services paid for on only device and have every person able to use it. +25. Medical studies. If you are in good health, check in your area for medical research departments. I’ve done multiple ranging anywhere from a 1 night stay at $400 and others a weekend stay for $1000. +26. If I have a left over giftcard balance in my Amazon account, I’ll look to see if they are having any sales for “buy $50 worth of Amazon gift cards, get $10 free.” I’m using money I got from surveys, to get more money, without using any money from paycheck. +27. Check for checking account bonuses. Some may question the ethical value of this, but hundreds of people do it. A lot of larger banks will have a promotions where you open a checking account, transfer your direct deposit there and they give you whatever bonus amount. +28. Paid off our smallest account with highest minimum payments. We had multiple accounts sitting at $100-300. Paid them off and it saved us almost $100 a month in payments. +29. Used the app “Fetch Rewards.” All you do is scan your receipts. It’s easy to earn points and you usually do every single scan. I’ve earned over $70 in Amazon gift cards doing this in just a few weeks. +30. Opened a secured credit card with no credit check to lower my utilization rate. +Hey /r/fatFIRE , + +This isn't a fatFIRE specific question, but I feel this is the best place to ask. I am currently 26, NW ~1.1 mil. 200k equity in primary residence, 100k in retirement accts (this is lower than it should be, I got a late start), 50k in cash, 750k in post-tax brokerages. + +Roughly two years ago the startup I joined out of college was acquired. This is the source of almost all of my wealth. Right now I make a hair shy of 200 base, 25k bonus. Thanks to a miracle appreciation (almost 3x!!!) of the stock of our acquiring company since acquisition, I am currently vesting a large amount of stock. Should our stock be flat from here on out, I will vest ~400k in 2019, ~300k in 2020. I run out of stock in December 2020 at which time I will "only" make my salary of ~200k + variable bonus. + +Based on my projections, at the end of 2020 I will have a NW of ~1.8-2mm. My plan from here is to find another engineering job and save aggressively until I fatFIRE 4-6 years later at ~3mm. I've had offers from big N companies and am confident I can earn ~250k, unless the market tanks. I currently only spend ~80k, so I am relying largely on appreciation to get me to my fatFIRE goal. + +All of the above said, I am miserable at my job and thinking of leaving to co-found a startup. The startup is being founded by my old boss, who I trust to the end of this earth. He is founding it now with or without me, so I need to act on this opportunity soon. It's in an area we both know well and he has seed funding secured. + +Right now, our acquiring company is a disaster, and every day at work is miserable. Despite the fat paycheck, I come to work and yearn for the days where I was earning 15% of what I am now and working twice as hard, but with a team I care about. + +The biggest con for me is that I will almost certainly never have the risk-adjusted income potential as right now. + +The biggest pro is that I am quite young, have a fair amount of capital already working for me, and could land another (less) high paying job with a fair amount of ease. + +I guess my question is have any of you ever dropped your risk adjusted earning potential for a risky role? Did you regret it? +[https://www.theverge.com/2018/12/12/18137564/amazon-warehouse-workers-union-new-york-staten-island-retail-wholesale-department-store-union-rwdsu](https://www.theverge.com/2018/12/12/18137564/amazon-warehouse-workers-union-new-york-staten-island-retail-wholesale-department-store-union-rwdsu) +I’ve seen this being said since January. + +Stop saying they need to cover, because they’ve been doing that since December with their deep ITM/OTM (can’t remember which one) calls, which is what’s been partially causing this can to be kicked down the road for months now. + +Shorts. Must. Close. Every. Short. Position. + +Say it with me. Say it ten times. Say it to your spouse. Say it to your friends. Say it to your damn computer. + +SHORTS. MUST. CLOSE. + +Edit: bring me your downvotes shills! I've seen what makes you cheer + +Edit 2: u/6days1week pointed out below that it was technically correct when the MSM reported that HFs covered their positions back in January. This is why we should be mindful about what words we use, because that'll be important when this eventually hits the courts and congressional hearings. + +Edit 3: for those wondering if there's a difference: covering a short means you have enough capital to essentially sustain the short position and afford the interest on such position. Closing means you've bought back the share that you borrowed, and have paid market price for it. What we are waiting for is the massive amounts of closings that SHFs will be forced into by Marge & Call. All shorts must be closed. Shorts must close. Shorts close. Short Close. Shoclo? +For some reason there is news only of the moratorium and not the merger. It is a good move for the long term actually. + +&#x200B; + +* Withdrawals capped at 25,000 +* Moratorium for 1 month - till Dec 16 +* Bank had losses for 3 years +* It has been under PCA since Sep 2019 +* An administrator appointed +* Shareholders had voted out all the Directors a few months ago +* DBS would bring in 2000cr+ to recapitalize the bank + * DBS is one of the largest banks in Singapore + +Some sources: + +[https://www.moneycontrol.com/news/business/under-moratorium-rbi-says-lvb-to-merge-with-dbs-6128361.html](https://www.moneycontrol.com/news/business/under-moratorium-rbi-says-lvb-to-merge-with-dbs-6128361.html) + +[https://www.livemint.com/companies/news/lvb-brought-under-moratorium-until-16-dec-withdrawal-capped-at-rs-25-000-per-borrower-11605619769547.html](https://www.livemint.com/companies/news/lvb-brought-under-moratorium-until-16-dec-withdrawal-capped-at-rs-25-000-per-borrower-11605619769547.html) +Gavin Adresen posted that he's going to visit CIA to give a presentation at an Emerging conference for the US intelligence community. Remember that he was invited by the CIA for this conference. That means CIA I knew about Bitcoin. + + +This is what he posted + +>I want to get this out in the open because it is the kind of thing that will generate conspiracy theories: I'm going to give a presentation about Bitcoin at CIA Headquarters in June at an emerging technologies conference for the US intelligence community. +> +> +> +>I accepted the invitation to speak because the act that I was invited means Bitcoin is already on their radar, and I think it might be a good chance to talk about why I think Bitcoin will make the world a better place. I think the goals of this project are to create better currency, create a more competitive and efficient international payment incompatible with goals of government. +> +> +> +>I'm only very slightly worried that talking about Bitcoin at the CIA will increase the chances that they'll try to do something we don't want them to do. I think accepting their invitation and being open about exactly what bitcoin is will make it less likely they will see it as a threat. +> +> +> +>PS: Full Disclosure: I'll be paid a one-time fee of $3K to cover expenses and pay me for my time. I don't want any "Gavin is on the CIA's payroll" rumors to get started, either +> +> +> +>as always, comments and questions and discussion welcome. I'd really rather not hear any conspiracy theories about how they will secretly implant a mind-control chip in my head while I'm there, though. + +&#x200B; + +https://preview.redd.it/kg6ngk6hr4w81.jpg?width=1199&format=pjpg&auto=webp&s=8ef5921104fb19d1e9871ea4638dc2ad48cae672 + +After that Mr. Satoshi never made any post again. + +Source: [https://bitcointalk.org/?topic=6652.0](https://bitcointalk.org/?topic=6652.0) +I realize that on a American-dominated sub this might not resonate with some people; still I was wondering if anyone has come to the same/similar conclusions. +As very brief background, I grew up in a nature-rich, beautiful part of the world, and on recent trips home was shocked at how quickly things have deteriorated. Literally forest to desert and 3-sigma weather events happening every year or two. This, along with spending a lot more time in Scandinavia, has made me reevaluate a lot of the reasons why I was pushing for the Fat part of FIRE (big house, first class travel, sports cars etc). I honestly think that my kids' generation will look back at that kind of lifestyle with disdain - the way it is increasingly being viewed in Western Europe and I assume parts of the US - and myself don't really feel comfortable with it anymore. + + +Obviously this, along with any scope of FIRE, is a very personal choice and I'm not trying to point fingers (OK maybe, just a little). Living in an environmentally conscious way is also not necessarily cheap, and if you do have Fat levels of wealth you can do a lot of very cool conservation projects. I have not really changed my strategy - in large part because I love sailing and that can be a big money pit - but I can't help but feel I have become a bit distanced from a lot of the FatFIRE plans on here. Every few weeks a 'how is FatFire better than Fire' post comes up and the answers are usually a mix of bigger buffer and more consumption. I guess I'm not really that interested in the latter any more, which has caused quite a bit of motivation loss at times (I'm currently about halfway to Fat). Has anyone else felt like this? How do you reconcile pushing for the next level with more sustainable consumption patterns? +My aadhar is in the default state (no biometric lock) and I've been [hearing stories](https://economictimes.indiatimes.com/tech/internet/watch-out-aadhar-biometrics-are-an-easy-target-for-hackers/articleshow/61183055.cms) about how your biometrics can be misused and it's important to lock it. I want to know if these stories have any substance or it's mostly just fear? From technical perspective, I have a few questions: + +1. Have you already enabled the lock on your aadhar biometric? What's the best way to do it? +2. How difficult it is for the average hackers to misuse your biometric? +3. Are there any cons/issues after enabling the biometric lock? Like your normal OTP verification will continue working as it is, right? +Realty Income Corporation (O) is one of only three real estate investment trusts (REITs) in the S&P 500 Dividend Aristocrats Index for having increased its dividend every year for the last 25 consecutive years. + +So, for those of us who are shareholders of O, I know many of you already received your proxy materials from your broker. And I know most of you probably didn’t have time to read all 301 pages. Here is the abbreviated version and some important highlights and updates. + +First, an important note on how dividends will be affected: The improved diversification resulting from the merger is expected to further enhance the sustainability of Realty Income's dividend coverage. VEREIT's shareholders are expected to experience an immediate increase in the dividend upon closing of the merger. Dividend payments for both companies are expected to remain uninterrupted during this transaction. + +**The Merger with VEREIT** + +The boards of directors of Realty Income Corporation and VEREIT, Inc., have each approved an Agreement and Plan of Merger, dated as of April 29, 2021, and is expected to close during the fourth quarter of 2021. + +Immediately following the closing, the companies expect to effectuate a taxable spin-off of substantially all of the office properties of both companies into a new, self-managed, publicly traded REIT ("SpinCo"). + +Following the mergers and assuming the consummation of the Spin-Off, Realty Income’s portfolio is expected to encompass approximately 10,300 primarily single-tenant, net lease commercial real estate properties located in all U.S. states, Puerto Rico and the U.K., with an estimated total portfolio annualized contractual rent of approximately $2.5 billion, based on a combined portfolio as of December 31, 2020. + +**Will O Stockholders Receive Shares of the New REIT?** + +The short answer: Yes! + +Following the effective time of the Merger, Realty Income and VEREIT intend to contribute certain of their office properties (the “OfficeCo Properties”) to a newly formed direct or indirect wholly owned subsidiary of Realty Income, **and for Realty Income to distribute all of the outstanding voting shares of common stock in OfficeCo to Realty Income’s stockholders** (which, at that time, would also include the VEREIT stockholders as a result of the Merger) **on a pro rata basis**. Following the consummation of the Spin-Off, VEREIT and Realty Income intend for OfficeCo to operate as a separate, publicly traded REIT. + +**If the Spin-Off is consummated, continuing holders of shares of Realty Income common stock will be entitled to receive a number of shares of OfficeCo common stock** based on a distribution ratio determined by the Realty Income board of directors for each share of Realty Income common stock held by such stockholder as of the close of business on the record date of the OfficeCo Distribution. + +**How Will Receiving Shares of the New REIT Affect My Taxes?** + +While the Merger generally is not expected to result in the recognition of gain or loss for stockholders of either VEREIT or Realty Income for U.S. federal income tax purposes, **the distribution of shares of OfficeCo common stock in the OfficeCo Distribution, if consummated, is expected to be treated as a taxable distribution to Realty Income common stockholders** (which would include the former VEREIT stockholders that received Realty Income common stock in the Merger and continue to hold such stock as of the close of business on the record date of the OfficeCo Distribution) **for U.S. federal income tax purposes**. + +An amount equal to the fair market value of the shares of OfficeCo common stock received by a U.S. holder (as defined in “Material U.S. Federal Income Tax Consequences”) of Realty Income common stock in the OfficeCo Distribution **will generally be treated as a taxable dividend** to the extent of the U.S. holder’s ratable share of any current or accumulated earnings and profits of Realty Income allocable to the OfficeCo Distribution, with the excess treated first as a non-taxable return of capital to the extent of the U.S. holder’s tax basis in Realty Income common stock and any remaining excess treated as capital gain. + +*\*\* Remember, though – the tax treatment will look different if you are holding these stocks in traditional or Roth IRAs (capital gains and dividends grow tax free in these accounts). Same rules apply: Distributions from your traditional IRA will create a taxable event as your money in this account is pre-tax dollars, and distributions from your Roth IRA are not taxed, as the money in these accounts is already taxed at the time of your contributions.* + +**TL,DR;** Please consult a tax advisor with questions about how this will affect you personally. I am not a tax advisor and I don’t have the answers to questions related to your specific tax situation. + +**VEREIT Stockholders to Receive O Stock** + +In connection with the Merger, each VEREIT common stockholder will have the right to receive 0.705 newly issued shares of Realty Income common stock, par value $0.01 per share, for each share of VEREIT common stock, par value $0.01 per share, that they own **immediately prior to the effective time of the Merger**. The Exchange Ratio is fixed and will not be adjusted to reflect stock price changes prior to the closing of the Merger. + +Based on the closing price of Realty Income common stock on the NYSE of $68.60 on April 28, 2021, the last trading day before public announcement of the proposed transactions, the Exchange Ratio represented approximately $48.36 in Realty Income common stock for each share of VEREIT common stock, which represented a premium of approximately 17% to the closing price per share of VEREIT common stock as of April 28, 2021. + +Based on the closing price of Realty Income common stock on the NYSE of $67.48 on June 22, 2021, the latest practicable date before the date of this joint proxy statement/prospectus, the Exchange Ratio represented approximately $47.57 in Realty Income common stock for each share of VEREIT common stock. + +Based upon the number of outstanding shares on June 25, 2021, it is anticipated that Realty Income will issue approximately 161.74 million shares of common stock in connection with the Mergers, and will reserve approximately 1.49 million shares of common stock for issuance in respect of VEREIT equity awards that Realty Income will assume in connection with the Mergers. + +Upon completion of the Mergers, based on the shares of Realty Income common stock and VEREIT common stock outstanding as of June 25, 2021, it is estimated that legacy Realty Income common stockholders will own approximately 70% of the common stock of Realty Income, and legacy VEREIT common stockholders will own approximately 30% of the common stock of Realty Income. + +**Where and When to Virtually Attend the O and VER Shareholder Meetings** + +Realty Income and VEREIT have each scheduled special meetings of their respective stockholders to be held on August 12, 2021 in connection with the Mergers and related transactions. Due to COVID, these meetings are both virtual. + +The Realty Income special meeting will be held virtually via live audio webcast at [www.virtualshareholdermeeting.com/realty2021sm](https://www.virtualshareholdermeeting.com/realty2021sm), on August 12, 2021, at 12:00 p.m. Eastern Time. + +The VEREIT special meeting will be held virtually via live audio webcast at [www.virtualshareholdermeeting.com/VER2021SM](https://www.virtualshareholdermeeting.com/VER2021SM), on August 12, 2021, at 12:00 p.m., Eastern Time. + +You will be asked to enter your unique 16-digit control number included on your voting instruction form or proxy card to attend the meeting. + +**Cast Your Votes!** + +The record dates for determining the stockholders entitled to receive notice of, and to vote at, the special meetings are **July 8, 2021**, with respect to the Realty Income special meeting, and July 8, 2021, with respect to the VEREIT special meeting. The Merger cannot be completed without the approval of both Realty Income stockholders and VEREIT stockholders. + + At the special meeting of Realty Income, Realty Income stockholders will be asked to consider and vote on: + +(i) A proposal to approve the issuance of Realty Income common stock in the Mergers pursuant to the Merger Agreement + +(ii) A proposal to approve the adjournment of the Realty Income special meeting, if necessary or appropriate, to solicit additional proxies in favor of the Realty Income Issuance Proposal if there are insufficient votes at the time of such adjournment to approve such proposals. + +At the special meeting of VEREIT stockholders, VEREIT stockholders will be asked to consider and vote on: + +(i) A proposal to approve the Merger, on the terms and subject to the conditions of the Merger Agreement + +(ii) A proposal to approve, by advisory (non-binding) vote, the compensation that may be paid or become payable to the named executive officers of VEREIT in connection with the Merger + +(iii) A proposal to approve the adjournment of the VEREIT special meeting, if necessary or appropriate, to solicit additional proxies in favor of the VEREIT Merger Proposal, if there are insufficient votes at the time of such adjournment to approve the VEREIT Merger Proposal. + +There is a nice FAQ section in the proxy materials, I suggest taking a look at these questions to see if it answers any questions you may have that weren't answered here. Also, the merger may pose some risks, which are outlined in detail in the proxy materials. You are also encouraged to read these materials more closely and do your own research. + +Hope this was helpful! Happy voting! +I always read people going from broke to millions by real estate, but how did they get in without capital for a down payment? I want to build long term wealth and own a house as the “American dream” but covid has depleted all my savings and and income coming in. Looking for pointers on getting out of this depressing situation. + +**Edit 3/11:** Thank you all for the replies, slowly working my way through them! The job market has been tough to find something while I work on building RE knowledge. +AntiDoge token just launched 12 hours ago and the only purpose of the token is to get rid of Doge. We had enough of doge and the daddy of doge. It’s a scam and we all know it. + +Our launch was bit messy, we got bot attack and now they are all gone. + +Doge coin was started as a meme coin and it was all good there BUT now it’s a freaking scam coin manipulated by Elon and his so called fans. The impact is clearly shown on the whole crypto market. + +These guys bought so much of this shit and now pumping it, they crossed all limits when the clown tweeted that Bitcoin is useless and Doge is going to be accepted as payment, I mean WTF? Don’t you see the clear manipulation there? + +With AntiDoge coin, we are starting this movement to get rid of Doge and give it a death it deserves. + +Join us on this long but definitely amazing journey. + +LP locked and Ownership renounced. + +Just a real token with real purpose. The team behind the token is experienced, they are behind many successful projects and this one is just to start this movement, I mean, someone’s gotta do it. Team is going to dox same day we reach 500 Mil marketcap. + +Together we can get do this. Join the AntiDoge movement now. + +Important links and information: + +Telegram: https://t.me/antidogetoken + +Twitter: https://twitter.com/anti_doge + +Website: https://antidogetoken.com/ + + + +Contract: 0xd9d0ef79b44711c5eeee4ba0cf2fd5a7a36fcc57 +Morning everyone, and happy Sunday. + +There has been talk of a value rotation for several months now - that’s not news - but over the last week or two I’ve been noticing an uptick in people on Reddit looking for “boring” stock recommendations to counterbalance the “speculative” stocks. + +Curious if you’re noticing the same or I’m imagining things. +Middle-high income earners.. what did it boil down to for you to progress your salary? + + +Edit: To save replying to every post thank you all for contributing to this + **$KABOSU** launched less than 48 hours ago and has since then become the most successful launch in cryptocurrencies' history! + +Launching in the evening of May 10th, **$KABOSU** managed to gather **over 5000 Telegram members at the time of presales**. **In less than 24 hours, it has set a new record by reaching a 100 Million Market Cap!** You read that right, in less than a day **$KOBASU** has reached a market capitalization that SafeMoon took 2 weeks to achieve! + +But if it reached that much then it's over right? + +Hahahahaha no. While all this sounds like an incredible achievement on its own, it is only the beginning! **This project as a whole is not even 48 hours old.** Please let that sink in. How much potential do you think that this coin has just based on this one simple information? + +A lot? That would be putting it lightly. Please read on to understand what you just have stumbled upon during your daily lunch break scrolling. + +Another charity token I assume? + +Yes! But also SO MUCH MORE. Let me explain: **$KOBASU** is a charity token at heart. It wants to help animals and do good. But reducing the project to that would be criminal. + +Since yesterday, the team behind **$KABOSU** has officially unveiled their plans for the upcoming months, and let me tell you, dear unsuspecting reader, that this is once again something that you've never seen before. + +**They are working on an entire ecosystem.** What does this mean? Well, while **$KABOSU** has launched and is already a smashing success waiting to show the world that it's only just a baby, the real piece you need to remember is that the team is building around it something absolutely monumental, and that with it is coming **a real use-case** that will further strengthen this coin's position as a one of a kind on the BSC ! + +And if like me you are the impatient type, then rejoice because I hear that more concrete infos are coming very soon! + +What the hell? Where do I sign!? + +Waaaaait it is not over yet! To this, you gotta add some basic but important information to make the picture complete: **Locked liquidity** for one! **Renounced ownership** for another! And how not to mention **the insane liquidity which basically guarantees that $KABOSU is the most solid coin you'll ever see!** Did you ever see a project where someone can sell 50'000 dollars and the price barely moves? Until **$KABOSU** me neither, but this is a reality I am happy to live in now! + +I'M LAZY AND I HATE TO READ, MAKE IT SHORT PLEASE + +**Not even 2 days old yet. ATH at a 100M MCap in less than 24 hours. Nice consolidation around 50M right now. Monstrous liquidity pool. Locked liquidity. Renounced ownership. over 70'000 holders. Over 20'000 people on the telegram. A team so solid you could lay the house you bought thanks to $KABOSU on them. Dogs. A use-case project that is announced as being unlike anything we've ever seen yet.** + +Pardon the fomo-ish aspect of this post, but please do yourself a service and take the time to check this out! I am convinced that this is the next big thing. Who am I kidding? This is already a big thing. It is just bound to become colossal! + +**As always, DYOR and only invest what you are ready to lose !** + +\------------------------------------------------------------------------------------------------------------------------------------------------ + +**Relevant links** + +🐕 [**Website**](https://kabosutoken.io/) + +📁 [**BSCscan**](https://bscscan.com/token/0x4A824eE819955A7D769e03fe36f9E0C3Bd3Aa60b) + +🥞 [**Buy on Pancakeswap**](https://exchange.pancakeswap.finance/#/swap?outputCurrency=0x4A824eE819955A7D769e03fe36f9E0C3Bd3Aa60b) + +📈 [**Charts**](https://dex.guru/token/0x4a824ee819955a7d769e03fe36f9e0c3bd3aa60b-bsc) + +🐸 [**CoinGecko**](https://www.coingecko.com/en/coins/kabosu) + +✋ [**Renounced Ownership**](https://bscscan.com/tx/0x8567d73a1c23a3b961aa1651be34ac2faa091563ac5f7f609130e8d6f532d4a5) + +🔒 [**Locked liquidity**](https://unicrypt.network/amm/pancakev2/ilo/0x798d4d97D9353955724e8cEDbA5619fFe1592d0D) +Say I had invested and saved wisely and could pay off my mortgage 10-15 years early. Should I do it? Or should I continue to invest and hopefully make more? + +Edit: + +$480,000 total mortgage. Only a year in. +2.3% interest on mortgage + +Edit 2: +There appears to be 3 main points: + +1. Paying off your mortgage gives you peace of mind and a security of lower outgoing expenses in the chance your income changes drastically. + +2. Investing in mutual funds, ETFs, other safer funds/securities can return higher than my current 2.3% mortgage rate. + +3. If I own 20% of my home, I can do a Smith Maneuver and get a HELOC (Home Equity Line of Credit) to get the best of both worlds but I am borrowing against my home so it’s riskier. +If it really comes from spending a million nights reading data and statistics and financial reports and not inside trading information, how the hell did Buffett do it? + +and more importantly, how does he still manage to keep doing it? + +If what he says he does is true (reading billions of financial reports and studying a whole lot) then isn't it so that just any average idiot can do it? +Not looking for this to turn into a bragging session of the value of what you have. The goal is determining if we are missing something from a **functional** perspective at our aging thicc/chubby/corpulent state in life. + +Here’s what I (we [older DINKs]) have. + +**Essentials** + +* Passport. Birth certificate. SSN card. Minor other documents. + +* Signed copy of DNRs. \#yolo + +* Copy of vaccination schedule, known medical reactants and allergies + +**Functional** + +* US currency. Decent amount. All denominations. Non-sequential. + +* Foreign currency - euros, pesos, pound, Canadian - easiest to have these currency on hand for travel and then replace on return. + +* $2 bills. A fcuk ton. Also known as tipping money. (least appreciated bill [eva?!]) + +* Gift card collection. Non-expiring. Doubles as an occasional kudos for my employees but also allows the option to stay under the *radar* if needed. + +* Keys. Copies of. Cars, homes (redundant since they have electronic locks). + +**Sentimental** + +* A mushy farewell letter to each sibling. Updated yearly(ish). + +* A small coin collection hardly worth anything but represents my (late) dad’s entire numismatic hobby. + +**Misc** + +* Firearms. For sport. Not safety. EoD on this. + +Edit - Lots of questions on safe brand. It’s a gun safe from Cabelas. I think it’s the Liberty line. Not super worried about burglary. I’ll update when I confirm later today. [sub-edit: Liberty] + +Edit 2 - Not preparing for apocalypse. Not a prepper, we have no stores of canned goods, or rum, or poppies. Instead we are preparing for accidents, minor emergencies, natural disasters, travel and health events associated with aging. + +Edit 3 - I have decided to stock a (small) barrel of bourbon. Because \#yolo +I feel like I just can't get ahead. + +I just want to live a normal life like I see other people doing everyday. I have young-onset Parkinsons disease and I just struggle with everything. I've never been a healthy person, even as a kid. I was in the ICU for a few weeks in 3rd grade. Now I have this to deal with. + +I struggle to afford food, medicine, bus/train fare to get to my doctors appointments. I struggle with everything. Most of my family is dead. I have literally no friends in real life. Just one person I talk to online. + +I cry all the time. I just can't take it anymore. I just want a hug and somebody to tell me that they love me and mean it. I want to have to stop thinking about whether or not I need to go into Target and steal something to eat for when the food I have is gone. Or breaking my meds in halves or quarters so I dont run out. + +Is it so much to ask to not be in severe poverty your entire life? Or to have somebody give you a chance to be loved? + +I just want to be not in poverty and not sick. That's all I want. + +I love everyone here. Thank you guys. + +Edit- I'm not going to comment again on this post or post anything in this sub again after this. I'm tired of being accused of things and being told to kill myself or whatever other BS some people feel is necessary to tell me. If anybody ever wants to talk though I definitely would love it if you could send me a message. Take care. +Welcome to the Daily General Discussion thread of /r/EthTrader. + +Find the latest Daily Altcoin Discussion thread by selecting the top result on this [search page](https://www.reddit.com/r/ethtrader/search?q=Daily+Altcoin+Discussion&include_over_18=on&restrict_sr=on&t=all&sort=new). + +*** + +The thread guidelines are as follows: + +- Please refrain from discussing non-Ethereum related tokens here. You are welcome to discuss altcoins in the Daily Altcoin Discussion thread. +- All sub rules apply here so please review our **[rules page](https://www.reddit.com/r/ethtrader/about/rules/)** to become familiar with them. The rules page is also linked in the announcement bar above. +- If the top page becomes overloaded with memes, all but the top two voted may be removed. If we need to remove a bunch of memes from the top page, post memes in this thread first and upvote the best so the mods know which ones to keep + +*** + + Resources and other information: + +* Newcomers who have basic questions about Ethereum can find answers by visiting /r/EthereumNoobies or our Ethereum Education wiki page, [see here](https://www.reddit.com/r/ethtrader/wiki/education). + +* To view live streaming comments for this thread, [click here](https://reddit-stream.com/comments/auto). Account permissions are required to post comments through Reddit-Stream.com. + +*** + +Enjoy! + +I've had office jobs at four different companies in Sydney and at each my contract said 38 hours but I was consistently expected to work much longer hours without being paid overtime. + +Is this legal? Why is this such common practice? +Welcome to the Daily General Discussion thread of /r/EthTrader. + +*** + +Thread guidelines: + +- Please refrain from discussing non-Ethereum related tokens here. You are welcome to discuss altcoins in the Daily Altcoin Discussion thread. +- All [sub rules](https://www.reddit.com/r/ethtrader/about/rules/) apply here so please be familiar with them. + +*** + + Resources and other information: + +* Newcomers who have basic questions about Ethereum can find answers by visiting /r/EthereumNoobies or our Ethereum Education wiki page, [see here](https://www.reddit.com/r/ethtrader/wiki/education). + +* To view live streaming comments for this thread, [click here](https://reddit-stream.com/comments/auto). Account permissions are required to post comments through Reddit-Stream.com. + +*** + +Enjoy! + +Last week and earlier this week, I've been posting warnings about watching out for increased volatility leading into March, and particularly toward the end of March, which is the end of Q1. We're going to see unwinding of massive positions in the pandemic and tech stocks that were successful in 2020 as institutions and professionals will be forced to change their portfolios to more value oriented stocks that will perform better in high interest rate conditions: commodities, energy, high free cash flow businesses, industrials and financials. I refer to this as "rotation" where portfolios evolve from being focused on one sector or asset class to another over time. This Spring, these rotations may not occur in a slow, calm and orderly way. + +Monday, as I said in an earlier post this week, I liquidated most of my positions in the hot stocks of 2020, including EVs, and began focusing on interest-rate proof businesses. These are businesses with lower long term debt, good free cash flow, actual positive profit margins, and good balance sheets. I'm just holding long positions in outright cash purchases of stock, so I don't have complicated positions to "unwind" (I just sell a stock to get out of a position). However, institutional and professional investors, and hedge funds, have more complicated and leveraged portfolios. + +We can't expect the unwinding of positions of so-called "whales" (big players) in the market to always be orderly or calm as the end of Q1 approaches. + +Yesterday's market dump appears to have been triggered by one or more whales forcefully selling $50B of bonds into a reluctant buyer's market. The below is a good article from Bloomberg but it's premium content so I'll summarize it below because it answers the question, *Why are bond yields spiking despite the Federal Reserve setting its interest rates to banks so low and WTF is going on in the bond market?* + +[Chaotic Treasury Selloff Fueled by $50 Billion of Unwinding](https://www.bloomberg.com/news/articles/2021-02-26/chaotic-treasury-selloff-fueled-by-50-billion-position-unwind)(Paywall) + +* **A massive dump of $50B in bonds suggest one (or a few) positions were unwound by one or more whales** + +> “It wasn’t an orderly selloff and certainly didn’t appear to be driven by any obvious fundamental continuation or extension of the reflation thesis,” wrote NatWest Markets strategist Blake Gwinn in a note to clients. + +* **"Fundamental decoupling" between low interest rates and a heating economy** + +Bond and lending pros are rejecting the Federal Reserve's low-interest view, which is at odds with 6-7% growth projected due to stimulus plans and rebound from the pandemic and Powell's talk of "maximum employment" plans + +> The bond market’s divergence from a fundamental backdrop was most evident at the shorter-end of the curve. Eurodollar contracts -- which are priced off Libor -- collapsed in record volumes as traders repriced their expectations for the path of Fed rates with few obvious catalysts. + +* **What exactly happened? 5-year Treasury notes jumped 22 points, and spreads associated with those notes jumped 24 points** + +> The main protagonist in the bond market was the five-year Treasury note, a maturity often associated with long-term Fed rate expectations, where yields closed 22 basis point higher on the day. The so-called butterfly-spread index -- a measure of how the note is performing against its two- and 10-year peers -- jumped 24 basis points, the worst daily performance for the sector since 2002. + +> Markets now see a Fed hike by March 2023 compared to mid-2023 previously, and have priced in rates over 50 basis points higher by 2024. + +> But in remarks this week, Fed Chairman Jerome Powell offered reassurance that policy would continue to be supportive and look beyond a temporary pick-up in inflation, especially from a low base. While Fed Vice Chair Richard Clarida expressed cautious optimism on the outlook, he said it would “take some time” to restore the economy to pre-pandemic levels. + +* **Bond buyers who disagree with the Fed were "on strike" yesterday and created a "liquidity drought"** + +> A number of more “technical-style” factors were in the mix, against a backdrop of a good-old-fashioned buyers strike... + +> A lack of bond market liquidity, just when traders needed it most [i.e. during a big dump of $50B in bonds] + +* **Also high frequency trading exists in the bond market too, apparently, and they suddenly disappeared yesterday in a market that was used to their presence, at the same time buyers thinned out** + +> “We think that a steep decline in market depth contributed to the outsized moves in yields today,” wrote JPMorgan Chase & Co. strategist Jay Barry in a note to clients. Barry showed how the share of high-frequency traders in the Treasury market -- which has been on an increasing trend -- tends to retreat rapidly as volatility spikes. + +I expect to see more volatility as positions from 2020 unwind and people create whole new portfolios for post-pandemic 2021. This is a good time to look at which stocks are the ones doing well each day and why. + +Disclaimer: Not a financial professional + +Edit: I plan to reenter tech stocks hardcore once these whales are done with whatever BS they do at the end of every quarter whenever there are big changes. + +__________________________ + +Edit 2: Here's an addition of more material offered by /u/TomatoeHaven from other references (I have not checked them) + +**What impact, if any, does the Fed have on Treasury Yield?** + +Note: Treasury yield briefly topped the 1.6% level on Thursday and traded at its highest level in more than a year, raising concern for investors across asset classes. + +“To be sure, if bond yields continue to rise and there is a smooth rotation out of growth and defensive stocks into value and cyclical stocks, the Fed will remain sanguine,” strategist Albert Edwards of Societe Generale said in a note. “But the risk is growing that with so many bubbles blown by the Fed something will burst soon.” + +https://www.cnbc.com/2021/02/25/us-bonds-treasury-yields-rise-ahead-of-fourth-quarter-gdp-update.html +https://www.thestreet.com/investing/robinhood-founders-explain-what-caused-app-to-crash + +The heavy load in turn caused the company’s domain name system to fail, rendering its users unable to access the site. + +The co-CEOs said the company was working to improve the resilience of its infrastructure, but warned that “as our engineering team works to upgrade our infrastructure, we may experience additional brief outages, but we’re now better positioned to more quickly resolve them.” + +A spokesperson said that the company is reaching out to customers with information on how to contact Robinhood so they can work with them on a case by case basis to handle compensation for the outages. This may include billing credits. +After 2 years of binge watching financial videos and reading books I've come to the realization people are broke because they are getting paid dog shit. According to Dave Ramsey and many like him it's actually because "poor people are spending it on crap they don't need" sure there are the HENRYS (High earners not rich yet) but most Americans are not making 6 figures and living above their means. "Spend no more than 30% on rent" sorry but rent has sky rocketed and that eats up everything so no money left to invest in my roth ira or stocks! Low wages are the reason we are broke! +In light of recent / ongoing comments from Parity team members on Twitter, a question is raised: does Parity have a conflict of interest working on both Polkadot and Eth 2.0? + +Example thread essentially bashing / FUDding ETH 2.0, while framing Polkadot in a very positive light: + +[https://twitter.com/5chdn/status/1096084730456489985](https://twitter.com/5chdn/status/1096084730456489985) + +&#x200B; + +Here is a comment from Afri on the thread above: [https://twitter.com/5chdn/status/1096420896288448512](https://twitter.com/5chdn/status/1096420896288448512) + +I don't really accept that the original tweetstorm was in good faith, and just sent "to stir a discussion", when you make comments like: + +*From a legacy chain client developer perspective, this will be a hell of a task to maintain the* [*~~$~~****ETH***](https://twitter.com/search?q=%24ETH&src=ctag) *1.x chain for another 2 or 3 years. From a d-app or contract developer perspective, projects like* [\*~~#~~\****Polkadot***](https://twitter.com/hashtag/Polkadot?src=hash) *will be much more interesting because you can already use them in 2019.* + +&#x200B; + +This, among other tweets and communication, is painting a narrative that intentionally misrepresents Polkadot and attempts to damage ETH. There are far more constructive ways that this discussion could be framed, and we should expect better from implementors that have received 5 million dollars to build ETH 2.0 just a few months ago. + +&#x200B; + +Should we as a community accept that a team that has received millions of dollars from the EF is directly building a so-called ETH-killer? Will this eventually lead to botched releases and development delays designed to minimize the success of ETH 2.0? Will it foster negligence a la the multisig bug? (Edit: This reads a bit conspiracy-esque, but was just pointing out what might happen if there is a large enough incentive mismatch. It's at least worth asking the question due to what we've seen happen with crypto in the past.) + +Looking to start an open discussion on this topic, all viewpoints welcome. +So, the basic idea that price controls can cause a shortage or a surplus is this: + +The equilibrium price is where consumers and producers are willing to buy/produce. If the price is set above this the. The producers will produce way more than consumers want because they get a higher price for it. A price ceiling works in reverse, producers don't get enough to produce. + +This is true in a COMPETITIVE market. + +But the insulin market isn't that competitive at all. There's just a few companies producing most of it (which is why they can jack up prices so much, it costs something like $15 to produce right?). So, since competition is low, you have an oligopoly situation right? + +President Biden has called for capping insulin at $35 a vial. That is effectively a price control. + +However, this market is not competitive. So would putting that price control on the market cause a shortage? Or would it just bring prices back down to a reasonable level given that the market isn't competitive? +I'm asking out of sheer curiosity because this information is surprisingly hard to get online, the auto-generated Google Q&A's even falsely answer "Elon Musk" to all such queries. I didn't know the previous owners and would like to know who earned what and how such deals work in general. Does somebody literally receive 12 billion dollars in their bank account? +I want to invest in tech because it’s booming right now but Let’s say Tesla is no longer growing because it’s overvalued. Will my etf dump Tesla and buy a stock that’s currently rising instead? Or will my etf continue to be dragged down by underperforming stocks? +Absolutely loving the continued efforts to sort out the shady tactics of these financial criminals. I feel like we've come such a long way over the past few months. Let's keep it up! + +Last time we spoke about the OTC, [Robinhood had increased the GME January OTC trades by over 32%](https://www.reddit.com/r/Superstonk/comments/p4w9hq/january_gme_otc_trades_increased_by_32_last_week/). + +Well after I posted, they further increased these January OTC trades. These were supposedly updated on "8/12" but as my post was on 8/15, it seems like that date is somewhat arbitrary. + +Before (from my last post): + +https://preview.redd.it/5kxtowrtpij71.png?width=1065&format=png&auto=webp&s=9b486970b19b7bcacf8ba4f986873b56a04af5af + +After + +[ An increase in 2,006 shares and 1,978 trades on 1\/4\/21](https://preview.redd.it/txti25m3pij71.png?width=1236&format=png&auto=webp&s=412cb8becb6659418789be0acd841aaace2fe9bf) + +Those increases in the scheme of the monthly data are meaningless. However, the fact that they're still increasing their January trades (7 months later) after already updating the data the week prior speaks to how insane the trading was during January and February and how fucked they truly are. + +From the [FINRA OTC website](https://otctransparency.finra.org/otctransparency/OtcIssueData): + +[Now updated 8\/12](https://preview.redd.it/oz30zaretjj71.png?width=896&format=png&auto=webp&s=2fa0f6564bfa2869a2c9f6155ebac9814aba0498) + +# It turns out they weren't done with their Book Cookin'... + +I present February OTC data - last updated by Robinhood Securities on **8/19/2021** + +[Comparison of Old OTC data and New OTC data. A modest 6.57&#37; increase in total OTC trades. However, Robinhood increased their OTC trades by 70.49&#37;!](https://preview.redd.it/n1y5sm5drij71.png?width=1237&format=png&auto=webp&s=6e45599bc9a94ad8b909ec795b2ad47b45d28b66) + +Robinhood increased their February OTC trades by 70.49% on 8/19! + +&#x200B; + +https://preview.redd.it/57r5tw6wlij71.png?width=1004&format=png&auto=webp&s=7c0205dda451378a76740fdacd7588d77f1edfb7 + +Here's a screenshot from my previous DD [The OTC Conspiracy](https://www.reddit.com/r/Superstonk/comments/myf505/probably_the_last_dd_youll_ever_need_to_read_the/) from 4/25: + +https://preview.redd.it/yyuw0pbkuij71.png?width=695&format=png&auto=webp&s=6910d088c45a23d1ddff0be46bfb32d0baf7f2f6 + +Here's another image from my post on 4/25: + +[Why didn't they previously report any of their OTC activity from January? Why do they keep changing their February OTC data?](https://preview.redd.it/9ywgg5rtvij71.png?width=671&format=png&auto=webp&s=4cd832d99257f86b29d34d05cefa74b01f0f4115) + +# Let's take a closer look: + +I **hate** updating my spreadsheets to reflect their OTC changes 6 months after the data is published. + +I **hate** that FINRA and the SEC are enabling this bullshit. + +And I **hate** Robinhood and Vlad, cuz Fuck Them. + +https://preview.redd.it/nuebmq6qfjj71.png?width=1752&format=png&auto=webp&s=c5d64bef404dafdd9f86e3d32b0a00898047bdc1 + +# So here's a Master Table to summarize their OTC involvement to date: + +[They've made 5.976 million trades with 6 million GME shares to their 'clients' in the OTC](https://preview.redd.it/20otdsa7fjj71.png?width=998&format=png&auto=webp&s=49c4d8adb2ab5ef85b3ff69d982319b717655a7c) + +Highlighted in the S/T column are the weeks where total shares = total trades or were within 1 share of total trades. OTC manipulation at its finest. + +Highlighted in the 2nd to last column are weeks were GME accounted for more than 4% of their total OTC trades (pretty much every week from late February through April). + +The far right column is GME's OTC rank in # of OTC trades. As you can see, GME was in the Top 5 of OTC traded stocks 11 of 13 weeks from 1/19 through 4/12 (DFV options week). The only weeks it was not in the top 5 was 2/8 and 2/15, before the second run-up. + +Their recent OTC rank (from 6/28 on) reflects the change from NMS Tier 2 to NMS Tier 1. + +&#x200B; + +Here's the OTC data for the **Week of 2/1/21**, showing RH's recent update / contribution. + +[Previously reported OTC trades for this week were 0, now 364,015 trades, updated 8\/17.](https://preview.redd.it/evfc7pcxtij71.png?width=1012&format=png&auto=webp&s=0655d961feeafcd3df2fe137ded991ab62c23d86) + +And here's another one from the Week of 2/15. + +[Previously reported 14,907 trades, now 45,525. Updated 8\/16.](https://preview.redd.it/a2rp7xtqojj71.png?width=1016&format=png&auto=webp&s=3559b1e43ce84e86e117ad6c70d5b5fc8ea79959) + +And don't forget 2/22! + +[Previously reported 755,424 trades, now 767,770. Updated 8\/17.](https://preview.redd.it/0nmlbpp6pjj71.png?width=896&format=png&auto=webp&s=c1ee142484d0d84ae4518c121b245d6aaa456c6a) + +# I decided to look a little closer at the 2/22 data, since the run-up yesterday felt a lot like that run-up on 2/24. + +[During the week of 2\/22, RH accounted for 0.62&#37; of the weekly share volume, but 24.22&#37; of weekly trades. GME was 17.37&#37; of their total OTC activity for that week!](https://preview.redd.it/z65hfqbeijj71.png?width=1185&format=png&auto=webp&s=edb369f5ff3397434f697be463499c5f03181fc2) + +During the week of 2/22, RH accounted for 0.62% of the weekly share volume (red line), but **24.22%** (red line) of the **weekly trades**. GME was **17.37%** (red line) of their total OTC activity for that week! + +GME was only **0.70% of the total shares** for these OTC participants, but **5.52% of total weekly OTC trades**. High frequency trading? + +GME was the Top traded OTC stock that week (by trades) and every single OTC participant (except Wolverine and LEK) had GME trades accounting for **>1% of their total OTC trades**. + +The shares/trade for GME on the OTC was **38.39**, while the shares/trade for the Total OTC (including GME), was **303.66**. + +&#x200B; + +During the week of 3/8 (remember that big dip we saw on 3/10? Pepperidge Farms remembers...), RH was the top OTC participant with another 764,285 trades. They were responsible for 1.00% of the weekly shares, but 25.81% of the weekly trades. GME made up 19.89% of the total OTC shares and **20.93% of their total OTC trades that week**. + +GME was only **0.50% of the total shares** for these OTC participants, but **6.15% of the total weekly OTC trades**. High frequency trading again? + +GME was the Top traded OTC stock that week (by trades) and every single participant (except HRT) had GME trades accounting for **>1% of their total OTC trades**. + +The shares/trade for GME on the OTC was **25.84**, while the shares/trade for the Total OTC (including GME) was **319.45**. + +# I'll leave you with a few more tables for the true data donkeys! + +I bolded all the participants each week who had %Trades GME >1% (last column). + +**5/24 (moderate fuckery)** vs 5/31 (slightly less fuckery) + +[5\/24 - GME is 5.68&#37; of RH's OTC trades, 5.56&#37; of RH's OTC shares](https://preview.redd.it/vvkpibozpjj71.png?width=1438&format=png&auto=webp&s=a0d37f0e6949d67f709960bfd4d0de069325d298) + +**5/24** \- GME was **2.28%** of the total OTC trades and was the #2 OTC traded stock. However, GME was only 0.20% of the total OTC shares traded, which is reflected in the low shares/trade for GME **32.14**, vs the OTC (including GME) **357.97**. 10 of 10 had %Trades GME >1%, including **5.68%** for **RH**, 5.32% for **Drivewealth**, and 7.25% for NFS. + +**5/31** \- GME was 1.24% of the total OTC trades and #7 OTC traded stock. Shares/trade for GME was **28.93** vs. **323.11** for the entire OTC (including GME). 8 of 10 had %Trades GME >1%. + +&#x200B; + +**6/7 (major fuckery after earnings)** vs 6/14 (less fuckery) + +[826,774 weekly OTC trades during the week of earnings.](https://preview.redd.it/aul5rfkqqjj71.png?width=1434&format=png&auto=webp&s=6d4a5a6ca96e9abbd345e0919755ca4e3b2b2bd7) + +6/7 - GME was 1.96% of the total OTC trades and was #5 OTC traded stock. GME was only 0.20% of total OTC shares traded, which is reflected in the low shares/trade for GME **33.95** vs the OTC (including GME) **328.60**. 10 of 11 had **%Trades GME** **>1%** (all but HRT). + +6/14 - GME was 0.92% of Total OTC trades and was #11 OTC traded stock. GME was 0.09% of total OTC shares traded. Shares/trade for GME was **30.49** vs **323.11** for the OTC (including GME). 4 of 10 had %Trades GME >1%. + +&#x200B; + +And last, but not least, that random volume spike during the week of 8/2 at least partially caused by De Minimis Firms, and not any of our beloved OTC participants. + +[Shares\/trade for GME during the week of 7\/26 was 20.49 - an All-time low](https://preview.redd.it/tgvz6s5irjj71.png?width=1433&format=png&auto=webp&s=bb5dccc2ad474e63b04c7dce767e318e99da8484) + +&#x200B; + +&#x200B; + +[Here's a diesel OTC summary table, updated to the best of my ability with the latest RH adjustments. I apeishly made a new measurement to detect extremes in volume \(shares\) or trades by just multiplying them together. Good for detecting crime. I used a GME float of 58.06 million so the shills can't shill.](https://preview.redd.it/xjbltt0xkkj71.png?width=1465&format=png&auto=webp&s=9762374e101f08f998469598af85a59673ce1bf5) + +&#x200B; + +And just so I'm not only picking on Robinhood, Drivewealth Institutional, who first entered the GME OTC frenzy in April, is owned by Point72 (15% ownership) and Steve Cohen. + +&#x200B; + +I could keep going, but I can imagine I lost a lot of you in the details and that seems like a good stopping point for now. + +Join me next time on, "Crooks Cookin' the Books", featuring Robinhood and their OTC clients, the manipulative MM giants. + +No cell, no sell. + +Buy, HODL, and Buckle Up! + +&#x200B; + +# TLDR + +* Robinhood continues to "adjust" their OTC data from January and February. +* [My last post showed a 32% increase in GME January OTC trades](https://www.reddit.com/r/Superstonk/comments/p4w9hq/january_gme_otc_trades_increased_by_32_last_week/). +* This post shows that they continued to "update" their January data on the FINRA OTC website. +* Last week, they increased their February GME OTC trades by 70.49%. +* RH is responsible for up to **25% of the weekly OTC trades**, but **less than 1% of the weekly OTC shares.** +* Are they involved in high-frequency trading? Why do they only trade in 1.0000 shares/trade? +* Weeks the highest OTC trading (2/22, 3/8, 6/7) were weeks where we saw major dips (2/25, 3/10, 6/10). + +&#x200B; + +[Quite the increase in GME OTC trades over the past 11 months, wouldntcha say?](https://preview.redd.it/toduglchfkj71.png?width=807&format=png&auto=webp&s=ac7a59a31dde66ed36c8446f70a49ada7bebd013) + +&#x200B; + +Edit 1 - added a little more discussion to the data tables above + +Edit 2 - TLDR, Monthly table, Total OTC weekly table +My goal with this post is to inform and educate about what a gamma squeeze actually is, and what market conditions must be true for one to occur. With this knowledge, you should be able to look at a few key metrics, and predict with a decent amount of accuracy whether a gamma squeeze is likely to occur on a given security, including with GME and other Reddit darling stocks. + +I am making no commentary on the short-term or long-term performance of GME, other than with specifics and examples of how it relates to a gamma squeeze. Most posts I've seen on the possibility of a gamma squeeze are just plain wrong. + +So first, let me clear up some of the misinformation that's been circulating. I have seen the following untruths being passed off as fact: + +* A gamma squeeze happens when previously-OTM calls expire ITM. +* A gamma squeeze is likely to happen on Mondays/Tuesdays when shares are delivered to last Friday's ITM call holders. + +Both of the above events *can* affect the share price, but neither of the above is, or can cause, a gamma squeeze. Now, lemme do some 'splainin. + +There's a reason they call it a "gamma squeeze". As you have likely already figured out, it's related to gamma, one of the greeks of options trading. The 2 we'll be focusing on today are delta and gamma. + +Delta (Δ) - the rate of change between an options contract's price, and the underlying asset's price. + +Gamma (Γ) - The rate of change between delta and the underlying asset's price. + +Think of it like this: Delta is like your car's speedometer and tells you how fast your car is moving at any given moment, and gamma is like how hard you have your foot on the pedal (how fast you're accelerating) at any given moment. + +So it stands to reason that for a gamma squeeze to happen, something interesting has to happen with gamma. And it did! On Friday 1/22, there was an actual GME gamma squeeze. Here's how it went down: + +On that week, global GME hype was just picking up, and new buyers were relatively evenly matched against new short sellers and those taking profits from the +100% previous week. As such, GME traded mostly sideways between $35-$40. + +So, by Friday, premiums for OTM call options expiring that same day 1/22 were incredibly cheap for 2 reasons: + +1. Implied Volatility (IV) was relatively low due GME to trading sideways all week. +2. All of those OTM call options were 0-days-to-expiration (0dte), meaning it was highly likely that they would expire worthless, statistically speaking. + +These cheap options contract prices, plus all of the WSB hype around GME in general, led to the mass-buying of OTM call options on Friday. + +Welp, here's the thing about options, banks, and hedging that you've heard so much about. When you buy call options, the bank buys up shares of the underlying asset so they can pay out if you end up ITM. And they figure out how many shares to buy using our buddy delta. If your option is very far OTM, delta will be low, and they only buy a couple shares, because statistically you're likely to expire OTM. So all the options-buying didn't have too much of an impact *at first*. + +This is where WSB with its incredible timing comes in. Wouldn't ya know it, there was enough organic mass share-buying, combined with the mass OTM 0dte call option buying (and banks hedging) to start to inch up the share price on Friday. + +Remember how I said that banks determine how much stock to hedge with on each option by looking at delta? Well, as the share price increased and all these call options became closer to being ITM, delta increased rapidly (high gamma), and banks had to start buying more and more shares to hedge. + +Normally, the market and typical buying/selling action can just absorb this extra share-buying as the price slowly increases over time, and it will look like normal price action. But this time, there was an extremely high concentration (open interest) of call options at a key strike price ($50 IIRC). Once that key level was passed, delta became 1, gamma/delta spiked up for all the other OTM call options, and banks all of a sudden had to snap up millions of shares for all these now-ITM call options, spiking the share price well above the highest call option, and thus all calls ended ITM. And here we have our gamma squeeze. + +Summary of factors that led to the 1/22 GME gamma squeeze: + +* Relatively low implied volatility (IV) led to relatively low options premiums overall. +* Availability of same-day expiring (0dte) OTM call options led to mass-buying. +* Organic price movement from share-buying and social media support brought the share price above a key strike price where there was high open interest. + +So where does that leave us now? Clearly a gamma squeeze didn't happen this past Friday, and it's no surprise. Most calls had been ITM all week, and were already hedged by the banks before the market even opened on Friday. Additionally, brokers squashed any possibility of a new gamma squeeze by banning new 0dte contracts. Simply put, delta didn't change for most options on Friday, meaning gamma was 0 for the entire day. + +"But what about Monday or Tuesday when the ITM call shares need to be delivered?" + +That this could help GME potentially has some truth to it, and may have some impact on the share price, but by definition, it would not be or cause a gamma squeeze. Gamma will likely remain at 0 for most ITM call options this coming week. + +Moving forward, there are many reasons GME could moon, but gamma squeezing likely won't be one of them. IV is so crazy high right now that it's simply not feasible for people to buy into 0dte or any options in the same way they did before. Additionally, brokers are unlikely to remove 0dte options restrictions in the near future, because they're usually the bag-holders during gamma squeezes, because they can't hedge fast enough. + +So please, if you like the stock, by all means go out and buy more of it. But stop telling people that it's going to gamma squeeze again, because the market conditions just aren't there for it. + +This is only my personal opinion and is not financial advice. Make your own decisions. + +Edit: Adding more info here from commenters: + +u/agamenc corrects and adds to my delta-hedging explanation: [comment link](https://www.reddit.com/r/options/comments/l9rdrt/lets_clear_up_a_few_misconceptions_about_gamma/gljwkzu?utm_source=share&utm_medium=web2x&context=3) + +u/Vaginitits explains greeks in mathematical terms: [comment link](https://www.reddit.com/r/options/comments/l9rdrt/lets_clear_up_a_few_misconceptions_about_gamma/gljzfjx?utm_source=share&utm_medium=web2x&context=3) +I've heard from some people recently that they are popular among economists, but this doesn't seem right to me since economists disagree with most of their policies like regarding free trade, $15 minimum wage, rent control, etc. +I am an amateur. So I don't know systems theory or economics at a university level. But I know enough to have conversations. I have a feeling dynamical systems theory is the language economics ought to be spoken in, as math is to systems theory. +* Generated net sales of $1.183 billion, compared to $942 million in the prior year’s second quarter. + +* Ended the period with cash and restricted cash of $1.78 billion. + +* Ended the period with no long-term debt, other than a $47.5 million low-interest loan associated with the French government’s pandemic response. + +* Invested in long-term growth initiatives that include expanding the Company’s product catalog, enhancing its fulfillment network capabilities and technology, and adding talent across the organization. + +* Entered into a lease of a new 530,000 square foot fulfillment center in Reno, Nevada, positioning the Company’s fulfillment network to span both coasts of the continental U.S. + +* Entered into a lease of a new customer care center in Pembroke Pines, Florida and started building out U.S.-based customer care operations. + +https://investor.gamestop.com/news-releases/news-release-details/gamestop-reports-financial-results-q2-2021 + +(NYSE:GME) reported quarterly losses of $(0.76) per share which missed the analyst consensus estimate of $(0.66) by 15.15 percent. This is a 45.71 percent increase over losses of $(1.40) per share from the same +period last year. The company reported quarterly sales of $1.18 billion which beat the analyst consensus estimate of $1.12 billion by 5.63 percent. This is a 25.58 percent increase over sales of $942.00 million the same period last year. + +Earnings call at 5:00 pm ET, about 50 mins to go as of this post. +Your markets are run by bots. Now your /r/Asx_bets daily threads are too. + +Read the [wiki](https://www.reddit.com/r/asx_bets/wiki/index/) people[.](https://styles.redditmedia.com/t5_2hqqj5/styles/communityIcon_41pmnaqp4zn41.png?width=256&s=59bf38425fb316fdcba30365b272a5f19352f370) + +[Posts relating to the "Is /r/ASX\_bets about finance or effect your mental health?" etc will lead to a ban of the mods chosing. You have been warned.](https://www.reddit.com/r/ASX_Bets/comments/l0l9et/the_does_asx_bets_effect_your_finances_emotions/?utm_medium=android_app&utm_source=share) + +Automoderator may provide "Guidance" for Lazy and zero effort posting. + +[We have an active official/unofficial discord. It's open to all discussions, stonks related and non-stonks related.](https://discord.gg/EKU2tVBp9u) +Your markets are run by bots. Now your daily threads are too. + +&#x200B; + +This thread is for plans and thoughts prior to the market open period. + +Maybe use this time to read the [wiki](https://www.reddit.com/r/asx_bets/wiki/index/) [.](https://styles.redditmedia.com/t5_2hqqj5/styles/communityIcon_41pmnaqp4zn41.png?width=256&s=59bf38425fb316fdcba30365b272a5f19352f370) + +&#x200B; + +Posts relating to the "Is /r/ASX_bets about finance or effect your mental health?" etc will lead to a ban of the mods chosing. [You have been warned](https://www.reddit.com/r/ASX_Bets/comments/l0l9et/the_does_asx_bets_effect_your_finances_emotions/?utm_medium=android_app&utm_source=share). + +&#x200B; + +[We have an active official/unofficial discord. It's open to all discussions, stonks related and non-stonks related](https://discord.gg/wsNDGTf5QH). +I just quit my prime and will never buy anything from Amazon again! + +Thats it! Game over! There is plenty of stuff all over the internet and many times even cheaper, but we are to lazy to search, so we go to amazon. Also because its easy with returns, damages or loss of package. (At least in Germany) + +Im done! I buy my stuff over Gamestop or any other (non slavery) supplier. + +Edit: info +https://www.reddit.com/r/Superstonk/comments/pgr21q/stop_using_amazon/?utm_medium=android_app&utm_source=share + +Edit 2: old dd +https://www.reddit.com/r/Superstonk/comments/np33hr/amazon_bain_capital_and_citadel_bust_out_the/?utm_medium=android_app&utm_source=share + +Edit 3: +Thanks for all the ups and rewards. I feel so apeish +I've noticed that people in this sub are getting more and more interested in DeFi (Decentralized Finance) applications. With this guide I would like to help you getting started with learning the basic fundamentals of DeFi and setting up your wallet and tools. I tried to make this guide as complete as possible. + +# Fundamentals + +Let's start with some fundamentals first. + +# What is Decentralized Finance + +Decentralized Finance (DeFi) is a movement that uses decentralized networks and blockchains to transform traditional financial products into trustless and transparent protocols that work without intermediaries. + +Currently, almost all DeFi applications are built on the Ethereum blockchain and Binance Smart Chain (EDIT: Binance Smart Chain is NOT as decentralized as Ethereum and is therefore often labeled as CeDeFi). Like Bitcoin, Ethereum and Binance have a blockchain that acts as a shared ledger in which digital value is tracked. Rather than a central authority, the participants making up the network control the issuance of ether (or BNB), the network's cryptocurrency, in a decentralized way. + +Developers can program applications that can create, store and manage digital assets, also known as tokens, on the blockchain. For this to work, smart contracts and decentralized applications (DApps) are written and built. The expiration of these contracts and agreements is automatically enforced if the blockchain receives the correct data. You can make complex, irreversible agreements without the need for an intermediary. + +Anyone is able to create, adapt, mix, link or build on an existing DeFi product without permission. DeFi protocols are modular, so they can be stacked on top of each other to build an increasingly dense system of interacting parts. + +# Wallets + +You can download a wallet on a PC, tablet or telephone. With this you can store, send or receive Bitcoin or other cryptocurrencies. Three related concepts determine whether someone has ownership of a certain wallet, these are your digital keys (also called public & private keys), your wallet address and your digital signature. + +The most important aspect of a wallet are your digital keys, as they give you access to your wallet. It is important to know that these keys are not stored online on the blockchain but are instead stored independently within the digital wallet itself. Each key consists of both a public key and a private key. + +Consider your public key the same as the bank account, which also consists of an address. Your public key works more or less the same. The pin code with which you subsequently gain access to this bank account is then referred to as your private key. + +It is very important that you ALWAYS keep your private key to yourself. If someone else has the private key, he / she can send and steal all coins, so keep it safe. With the public key, people can only send coins, so that can't hurt. + +Every wallet has a unique code, which we also call the wallet address, which consists of a random letter and number combination that is different for everyone. This address is in fact the name of your wallet and makes it possible for others to transfer cryptocurrencies to you. + +Example of just any bitcoin address: 14J5Q7ageKhM3miKd94DX44Kf6b7ko4BZe + +Some people assume that your public key is the same as your wallet address. This is not entirely true, but the two are mathematically related. + +In order for you to start using DeFi platforms, a browser wallet is needed. + +# Coins vs Tokens + +A coin runs on its own blockchain, on its own system. It is therefore completely independent. A coin could be compared to a contemporary currency, such as the Dollar. Bitcoin is a coin and has been developed with the aim of serving as a digital payment method and store of value. + +Then there are tokens. Tokens by definition do not run on their own blockchain, unlike a coin. They have been added to an already existing blockchain. Tokens can have the same functionality as a coin, although this is not common. + +Tokens that are created on the Ethereum network are typically ERC-20 tokens. When we talk about ERC20, we mean the standard that is implemented in certain tokens. ERC20 stands for 'Ethereum Request for Comment 20'. The Binance Smart Chain uses a similar standard, which is the BEP-20 standard. + +These standards contains numerous functions that allow any token that has implemented this set of functions to be traded. Examples of those functions are: + +* Sending tokens. +* Request balance information from any address. +* List the number of available tokens. + +# Layer 2 solutions + +Because of high demand, the Ethereum network is getting overloaded. This resulted in very high transaction fees, making it to expensive for small investors to use it's dapps. + +This is the main reason why many investors moved to the Binance Smart Chain, which has much lower fees, untill Ethereum 2.0 has been implemented, which is an update that will drastically lower the transaction fees for the network. + +However, in order for the Binance Smart Chain to maintain such low transaction fees, it had to sacrifice it's decentralized properties. This resulted in that the Binance Smart Chain is much more centralized and less safe compared to Ethereum. + +Fortunately, there are various projects working on Layer 2 solutions to improve both the scalability and speed of the Ethereum network. Layer 2 refers to a secondary framework, chain or protocol that is built on top of an existing blockchain system. By doing so, the mainchain can be unloaded and can solely focus on the safety of the network. + +In the case of Ethereum, there are currently 2 sidechains that are pegged to it. These chains are the xDai chain and the Polygon chain. The latter of the sidechains is the most promising Layer 2 solution so far. + +By bridging your assets from the Ethereum mainchain to the sidechains, you are able to interact with various dapps that work on these sidechains for almost an negligible amount transaction fees. + +# Getting started + +Now that you're aware of the fundamentals of DeFi, let's dive into how you can move your assets into the various DeFi protocols. + +# Setting up your wallet + +In order to move your assets from your wallet on the exchange that you're using to either the Ethereum network, Binance Smart Chain, or Sidechains, you will need a browser wallet that can interact with these DeFi protocols. + +I'm currently using MetaMask, so I will use this browser wallet in this guide: + +1. Go to the official MetaMask website in your browser ([https://metamask.io/](https://metamask.io/)) +2. Press “Get Chrome extension”, “Chrome Firefox Opera” or “Get Brave Browser”. This of course depends on the browser you want to use at that time. +3. You will now be taken to a page where you can add the extension. With Chrome, for example, there is a button with: + ADD. TO CHROME. Click on the button. +4. A popup appears to confirm this +5. You will now see a MetaMask logo at the top right of the browser. Click this to set up MetaMask. +6. Accept the terms and conditions +7. Create and confirm a new password. Please remember this password. +8. You will now see 12 words. With these words you can always recover your wallet - in combination with the password. Write these words down and keep them safe. Preferably offline - just on paper. +9. Congratulations! You have now installed and configured a MetaMask extension. You can now use the buttons “Buy” and “Send” to buy or send Ether to your wallet. You can now also send Ethereum to the address under “Account 1”. + +Your MetaMask wallet will be automatically connected to the Ethereum network. In order to connect your MetaMask to the Binance Smart Chain, Polygon or xDai, follow these steps: + +1. Click on the network in the top right corner. +2. Go to settings. +3. Click "Add network" + +In order to setup your wallet for the Binance Smart Chain, enter the following parameters: + +Network Name: Smart Chain + +New RPC URL: [https://bsc-dataseed.binance.org/](https://bsc-dataseed.binance.org/) + +ChainID: 56 + +Symbol: BNB + +Block Explorer URL: [https://bscscan.com](https://bscscan.com/) + +&#x200B; + +In order to setup your wallet for the Polygon sidechain, enter the following parameters: + +Network Name: Matic Mainnet + +New RPC URL: [https://rpc-mainnet.maticvigil.com/](https://rpc-mainnet.maticvigil.com/) + +ChainID: 137 + +Symbol: MATIC + +Block Explorer URL: [https://explorer.matic.network/](https://explorer.matic.network/) + +&#x200B; + +In order to setup your wallet for the xDai sidechain, enter the following parameters: + +Network Name: xDai + +New RPC URL: [https://rpc.xdaichain.com/](https://rpc.xdaichain.com/) + +Chain ID: 0x64 + +Symbol: xDai + +Block Explorer URL: [https://blockscout.com/xdai/mainnet](https://blockscout.com/xdai/mainnet) + +# Faucets + +In order to be able to perform transactions on these chains, you need to have some of their coins/tokens in your wallet in order to pay for the transaction fees. + +* In order to use Ethereum you need Ether +* In order to use Binance Smart Chain you need BNB +* In order to use xDai you need xDai +* In order to use Polygon you need Matic + +Luckily you can get small amounts of the currencies for free from so called faucets. + +A faucet is an app or a website that distributes small amounts of cryptocurrencies. They’re given the name “faucets'' because the rewards are small, just like small drops of water dripping from a leaky faucet. + +However, in the case of crypto faucets, tiny amounts of free or earned cryptocurrency are sent to a user’s wallet. In order to get free crypto, users need to complete tasks as simple as viewing ads, watching product videos, completing quizzes, clicking links (be careful!) or completing a captcha. + +You can use the following faucets to receive small amounts of crypto: + +* xDai: [https://blockscout.com/xdai/mainnet/faucet](https://blockscout.com/xdai/mainnet/faucet) +* Matic: [https://matic.supply](https://matic.supply) + +Unfortunately. I wasn't able to find any faucets for Ether or BNB. + +# Sending crypto from the exchange to MetaMask + +In order to receive send your assets to MetaMask wallet, you need to fill in the correct address. This is probably straight forward for most of you, but please make sure to quadruple check you're MetaMask wallet address before sending your tokens from the exchange to your address. + +When you're sending tokens from Binance, it will ask if you want to send them as BEP20 or ERC20 tokens. Please choose the correct one! Sending BEP20 tokens to your Ethereum address can result in a loss or they end up in your Binance Smart Chain wallet. + +# Bridging: An important step! + +Please notice that you can't send your tokens directly from the exchange to sidechains such as xDai or Polygon! You need to send them first to the Ethereum network (as they are both sidechains pegged to the Ethereum blockchain). Once received, you can bridge them to xDai or Polygon by using the following links: + +* [https://bridge.xdaichain.com/](https://bridge.xdaichain.com/) +* [https://wallet.matic.network/bridge/](https://wallet.matic.network/bridge/) + +Keep in mind that for during the bridging, Ethereum transactions fees have to be paid. After the bridging, you play by the rules of the sidechain (which means cheap transactions). + +# I can't find my tokens in my wallet! + +If you can't find your tokens back in your wallet after sending them from the exchange, you can follow these steps: + +* Check the transaction record, is the transaction completed? +* Make sure you look at the right network. Your MetaMask wallet might be connected to the Binance Smart Chain network, hence not showing your assets. +* Add the contract address of your token to the wallet. You can find the address of your token via [https://etherscan.io](https://etherscan.io/) (Ethereum) or [https://bscscan.com](https://bscscan.com/yieldfarms) (Binance Smart Chain). The token address can then be copied in to the MetaMask wallet by clicking on add custom token. + +# Setting up your dashboard + +To make things a bit more clear, I would advice you to use the DeFi dashboard [Zapper.fi](https://zapper.fi/). Zapper is an interesting platform that lets you quickly and easily deploy and manage your DeFi positions within a single interface. It is a DeFi portfolio management dashboard that helps you stay on top of your portfolio, liquidity pools, and liquidity mining positions. + +Zapper supports Ethereum, Binance Smart Chain, xDai and Polygon. In order to connect to the right network, you must first connect your MetaMask to the network you want zapper to connect to. By clicking in the top right corner of your MetaMask wallet you can connect to the network you want Zapper to manage for you. + +The first tab of Zapper, shows an overview of your account. It shows the value of your assets in your MetaMask wallet and how your deployed assets are performing in the DeFi protocols (if you deployed any already). + +In order to reduce gas fees, Zapper has several features that can "Zap" your assets fast and "cheap" in order to: + +* Start providing liquidity in a pool. +* Swap tokens. +* Bridge your tokens from one network to another. + +Zapper also keeps track of the estimated APY's (Annual Percentage Yield) of the various pools from different DeFi protocols as well as farming opportunities. + +# A list of DeFi protocols + +Before wrapping this post up, I want to share the following website: [https://defipulse.com/](https://defipulse.com/) + +DeFi Pulse records the top performing DeFi protocols on the Ethereum main chain as well as their TVL (total locked value) and ranks them accordingly. This page is really worth checking out as it can help you to pick the right protocols to deploy your assets in. + +In order to monitor the DeFi space of Binance Smart Chain, Polygon and xDai I like to use [https://dappradar.com/rankings/category/defi](https://dappradar.com/rankings/category/defi) and [https://defiprime.com/#defi\_projects](https://defiprime.com/#defi_projects). However, If you use other resources in order to find the right dapp, let me know! + +# That's it for this guide! + +I really do hope that this guide helps you to get started on your DeFi adventure.If I missed something or whatever let me know so I can change it. + +&#x200B; + +* If you found this guide helpful, [please read my DeFi (Decentralized Finance) series](https://www.reddit.com/r/CryptoCurrency/comments/mdjsrj/defi_explained_defi_wallets/). I've covered a wide plethora of subjects and linked all posts to make it more convenient for you to read. +* Interested in Layer 2 solutions? [Read my post about ZK Rollup](https://www.reddit.com/r/CryptoCurrency/comments/nctot7/defi_explained_zk_rollups/)s! + +&#x200B; + +EDIT 1: All right, there’s some confusion here whether Binance Smart Chain is decentralized or not. It’s NOT decentralized. The Binance Smart Chain is a fork of the Ethereum blockchain that sacrificed it’s safety and decentralized aspect in order to maintain low transaction fees and higher scalability! + +EDIT 2: As pointed out by some comments, this post doesn't explain WHY you want to use DeFi. Unknown to many, this guide is part of a long series of posts, called "DeFi Explained". If you're interested in why you should-/want to- use DeFi, the following posts will be useful for you: + +* [Liquidity Pools](https://www.reddit.com/r/CryptoCurrency/comments/mfk2oi/defi_explained_liquidity_pools/) +* [Lending and Borrowing](https://www.reddit.com/r/CryptoCurrency/comments/mnzv1c/defi_explained_lending_borrowing/) +* [Yield Farming](https://www.reddit.com/r/CryptoCurrency/comments/n0yng2/defi_explained_yield_farming/) +* [Indices](https://www.reddit.com/r/CryptoCurrency/comments/muonht/defi_explained_indices/) +* [Derivatives](https://www.reddit.com/r/CryptoCurrency/comments/mt8c67/defi_explained_derivatives/) +* [Margin Trading](https://www.reddit.com/r/CryptoCurrency/comments/mslzt8/defi_explained_margin_trading/) +* [Wrapped Bitcoin](https://www.reddit.com/r/CryptoCurrency/comments/mh2oc7/defi_explained_wrapped_bitcoin/) +* [Stablecoins](https://www.reddit.com/r/CryptoCurrency/comments/mysxvz/defi_explained_stablecoins/) +Hi, so the title says it all, pretty much. I've learnt about the 50-30-20 rule of budgeting, started learning about investing (more resources are always welcome!) and have an account in Zerodha. Could you guys share resources for investment, personal finance, how to file taxes, things to be done and learnt once you start earning? Basically like a dummy's guide of things to do once you start earning your first salary. Would really appreciate any resources, am completely clueless about stuff. + +I am looking for more resources, and personal tips. Any YouTube channels I can follow? Any other subreddits? What did you guys do at your first salary, and what do you think you should have done/not done? That sort of thing. + +EDIT 1: added details. +EDIT 2: added more details. +Do you enjoy having a large home, or do you regret buying a home with so much space? + +We are two people with no kids and we use around 20% of our house- our bedroom, and a kitchen/dining area/living room open space at the back of our home (our second home, where we are currently). At our other main home, we use our bedroom, kitchen, and gym (plus where I keep my clothes). + +When my husband retires, I might continue working, but if I stop working at my current job, we might sell the one home and buy somewhere warm, possibly Naples. I have been looking at huge homes though. When I go into something that is even 5k sq ft, I think it is small. We have looked at homes in FL and in TN. Right now, we are not using our space, but the idea of something larger is what I am drawn to. + +What has been your experience? + +(Something with this amount of space, on a few acres, I don't love the house, but I like the idea of it. Having 5k sq ft on one floor would help if I took my mom and step-dad with me since they are getting older) +https://www.realtor.com/realestateandhomes-detail/1577-Lyons-Bend-Rd_Knoxville_TN_37919_M74598-41773?ex=2944420289 + +Or, this. https://www.realtor.com/realestateandhomes-detail/4582-Gravelly-Hills-Rd_Louisville_TN_37777_M78555-98929?ex=2942611155 +**About Kuvera**: + +Kuvera is the world’s first completely Free Financial Planning and Investing platform. That’s right – no hidden commissions, no AUM linked or monthly subscription fees. + +**About Gaurav Rastogi**: + +*From the Kuvera site:* + +>Gaurav is our Chief Evangelist. As a Portfolio Manager with Morgan Stanley, Gaurav saw first hand how the wealth management industry is focused solely on the super rich. He started Kuvera to change that and is on a mission to make the latest investment tools available to everyone. He also enjoys quoting dialogues from movies and playing soccer. + +Prepare your queries related to mutual funds, market crashes, pandemics and what to do and what not to do. We'll keep this AMA very topical. + +The AMA is scheduled for **27th March, 2020 @ 12 PM IST** + +If you are unavailable on the 27th and would like to have your questions answered, leave them here or PM the mods, and we'll try and have them answered by Gaurav. You can also post your questions now, to give Gaurav time to prepare their responses (answers would be in the AMA thread). + +Wondering how Gaurav answers queries in the AMA? [Here's the previous AMA](https://www.reddit.com/r/IndiaInvestments/comments/8iud4n/ama_on_kuvera_mfs_investing_gaurav_neelabh/) by Gaurav and Neelabh. +**About Kuvera**: + +Kuvera is the world’s first completely Free Financial Planning and Investing platform. That’s right – no hidden commissions, no AUM linked or monthly subscription fees. + +**About Gaurav Rastogi**: + +*From the Kuvera site:* + +>Gaurav is our Chief Evangelist. As a Portfolio Manager with Morgan Stanley, Gaurav saw first hand how the wealth management industry is focused solely on the super rich. He started Kuvera to change that and is on a mission to make the latest investment tools available to everyone. He also enjoys quoting dialogues from movies and playing soccer. + +Prepare your queries related to mutual funds, market crashes, pandemics and what to do and what not to do. We'll keep this AMA very topical. + +The AMA is scheduled for **27th March, 2020 @ 12 PM IST** + +If you are unavailable on the 27th and would like to have your questions answered, leave them here or PM the mods, and we'll try and have them answered by Gaurav. You can also post your questions now, to give Gaurav time to prepare their responses (answers would be in the AMA thread). + +Wondering how Gaurav answers queries in the AMA? [Here's the previous AMA](https://www.reddit.com/r/IndiaInvestments/comments/8iud4n/ama_on_kuvera_mfs_investing_gaurav_neelabh/) by Gaurav and Neelabh. +Welcome to the Daily General Discussion thread of /r/EthTrader. + +Find the latest Daily Altcoin Discussion thread by selecting the top result on this [search page](https://www.reddit.com/r/ethtrader/search?q=Daily+Altcoin+Discussion&include_over_18=on&restrict_sr=on&t=all&sort=new). + +*** + +The thread guidelines are as follows: + +- Please refrain from discussing non-Ethereum related tokens here. You are welcome to discuss altcoins in the Daily Altcoin Discussion thread. +- All sub rules apply here so please review our **[rules page](https://www.reddit.com/r/ethtrader/about/rules/)** to become familiar with them. The rules page is also linked in the announcement bar above. +- If the top page becomes overloaded with memes, all but the top two voted may be removed. If we need to remove a bunch of memes from the top page, post memes in this thread first and upvote the best so the mods know which ones to keep + +*** + + Resources and other information: + +* Newcomers who have basic questions about Ethereum can find answers by visiting /r/EthereumNoobies or our Ethereum Education wiki page, [see here](https://www.reddit.com/r/ethtrader/wiki/education). + +* To view live streaming comments for this thread, [click here](https://reddit-stream.com/comments/auto). Account permissions are required to post comments through Reddit-Stream.com. + +*** + +Enjoy! + +I Can’t say it wasn’t a long tough road to get to this point, talking with the owner for weeks, months, and even doing a lease buy for months ahead of this with a contract written out for traditional financing of the house. But after major convincing and explanation of cryptocurrency in general to the previous owner, Who wasn’t super familiar with how it works. We came to a conclusion that buying the property in BTC would benefit both of parties. I am ecstatic! This is what it’s all about. + +Cheers 🍻 +Anyone who purchased property March 2020 - June 2021 are laughing right now, but for those who purchased recently this year (2022), is anyone regretting their purchase? + +I literally feel like I could have made more money if I just had cash instead and just invested it in a HISA (high interest savings account) at 4%.. As boring as that sounds. + +And let's be real we aren't going to see any capital growth in the next 5-7 years... Inflation is just way to high right now and interest rates are going to be increasing for quite some time. +Long time lurker here. A few months back there was a post about "luxury" hobbies. The top comment was about horses and the money pit that ensues. Welp, I'm here to admit that I'm a horse girl. That being said - I'm looking for some direction & advice on how to move forward towards eventually firing and pursuing a passion project (maybe starting a therapeutic riding camp or running for public office). Like many on this sub, I don't think I'll ever stop working. I like being productive and I want to pay it forward. That being said, I'm miserable at my current, high-intensity job. + +For those who are on a fatFIRE journey and have found work that is actually fulfilling & still make bank: Tell me your secrets. What books should I read? + +For those who have FIRE'd and have a horse/boat/money pit: Is it possible to have such an expensive hobby and still FIRE? How did you set & reach those financial milestones? + +- Background: I'm 27, my entire family has passed on & I'm an only child; no debt/no kids. No plans on kids or family yet. Current gig as a lobbyist $105k income (after tax). + +- Assets: $1.2M in my brokerage + $50K in 401k + a few hundred acres in farm country which was recently appraised at $1.5M (it is not a horse farm - it has no free standing buildings and is leased out to a farmer who grows soy) + +- Expenses: All my living expenses (rent in DC ~$1,900/mo) and horse expenses are covered by current my salary. The horse costs me around $20k a year - including competing, board, & training. I should mention that I work off a lot of my showing expenses. I don't know that I'll continue to show at this level for years to come so I don't expect those costs to rise. I have no other expenses because, as many of you noted in that previous post: Horses are a lifestyle. I spend all my time outside of work with them. + + +Edit #3 : +Just stats for data lovers. +https://www.reddit.com/r/Superstonk/comments/qj3xrd/online_activity_tracker_guy_here_its_time_to_talk/?utm_medium=android_app&utm_source=share + +Edit #2 : +*UPDATE*!! +It seems the post for DRS/CS has been pinned again! Thank you for listening. Enjoy your weekend!!! + + +Edit : In case anyone needs it, here is a complete guide with everything to know about DRS, and further links inside . Thank you to u/DropDeadDevon + +https://www.reddit.com/r/Superstonk/comments/ptvaka/when_you_wish_upon_a_star_a_complete_guide_to/?utm_source=share&utm_medium=ios_app&utm_name=iossmf + +Mods have been acting up. Drs and cs should be pinned. Its the kryotonite for hedgies. + +This is not the 1st time they unpin it!! + +I am requesting mods to repin it and provide an explanation. Fellow apes we cannot let this slide. + +If you haven't drs , you need to get on it to have fun ownership and help end this once it.for all. + +The mods have constantly been pulling fuckery. + +We need the drs computershare to be pinned + +I need to see more purple rings!!! + +Thank you for reading. +Stay safe fellow apes!! + + +I dont know if I have to reach 250 words but if I do just know that I don't plan on shovings things up my butt but I don't condemn any ape that partake into these kidn of activities. Do you. + + +DRS IS THE WAY +🚀 Welcome to SafeShark! The next ferocious 100x charity token 🦈 + +Sharks are fearless of dips and continue to hunt for them!! + +To accomplish this task and they've added some BIG pumpamentals to the coin + +SafeShark is a charity token striving to help with the pollution and garbage build up in oceans that kill +thousands of sharks everyday as well as hunters surrounding Asia, that kill them for their fins for "shark +fin soup". The SafeShark holders have become fearless of these threats, and plan to make a change. + +This token seems like it is providing funds for a good cause for all water wildlife since pollution to our waters +has been a problem for decades now. Could be the next big thing who knows, but in my personal opinion I have +some faith in the project since the tokenomics seem to be working quite well, it's for a good cause, and +we're extremely early investors for the project. + +LP burned + +Contract Renounced + +Tokenomics: + +50% supply burned + +5% fee to liquidity pool and locked forever when selling + +5% fee distributed to all holders + +2% fee burned FORVER + +Use 11-12% slippage + +Could be a good project to keep an eye out for, still really early so who knows what will happen. Personally +threw in some BNB, but DYOR and take a look at the telegram for yourself + + + +🥞 BUY on Pancakeswap (V2): + +exchange.pancakeswap.finance/#/swap?outputCurrency=0x3417efece720b15e6a12ffa1eaa4f8aaf1e33808 + + +💬 Tg: https://t.me/SafeShark + +Website: Coming soon +Hello fellow apes, + +I just want to put this out, so I can say "I told you so" in a few months and shower in your karma and awards. + +&#x200B; + +My theory on what will happen: + +**1**. launch of the NFT marketplace will be accompanied the announcements of several high caliber partner companies and artists and especially in the cryptospace will cause a lot of stir. (This may also happen after the Shareholder Meeting). + +The pressure will be increased by new investors who want exposure to Web 3.0 and NFTs. + +&#x200B; + +**2**. On 02/06/2022, at the shareholder metting the number of shares will be increased from 300 million to 1 billion. Matt Furlong also provides further insight into the NFT marketplace and the strategic allocation of capital in the company with a focus on long-term growth. There will be a lot of talk about digital assets here. + + + +**3**. Once the stock raise is complete, Gamestop will issue a stock dividend (still normal stock, no NFT). This makes Gamestop stock more affordable for retailers and increases pressure on SHF as market capitalization increases (stock split effect). + + + +**4**. in a second step Gamestop makes a carve-out of GME Entertainment LLC and thus the "GME NFT Marketplace", whereby 51% of the company will remain with Gamestop itself and 49% will be issued to shareholders in the form of an NFT share. + +This NFT share can be traded through the Gamestop NFT Marketplace itself. The NFT dividend will be distributed to investors via the share control number. Computershare already has the necessary infrastructure in place here (see Overstock). + + + +**5**. DTCC and SHFs are now facing the following scenario: + +a. Increased pressure from partner companies, stock split and NFT marketplace launch. + +b. Each Gamestop share is entitled to X GME Entertainment shares, but GME Entertainment shares cannot be replicated for synthetic positions because NFT + + + +**6**. DTCC and its members will face 3 scenarios: + +Option 1 - synthetic short positions must be closed -> GME stock price squeezes -> MOASS + +Option 2 - GME Entertainment's NFT stock is centrally managed at DTCC for all short positions and investors at normal brokers receive an IOU -> Gamestop or Gamestop Entertainment now has the right to do a Share Recall as DTCC is not acting in the best interest of the company and shares are not distributed to investors as required. The problem with the share recall is that synthetic short positions have to be closed -> GME share price squeezes -> MOASS + +Option 3 - DTCC attempts to service all synthetic GME shares and associated short positions by repurchasing NFT shares through the GME NFT Marketplace -> GME NFT share price squeezes, but since Gamestop still owns 51% of the company, the rise in GME Entertainment's NFT share price also drives up Gamestop's share price significantly higher -> MOASS + + + +Thank you for coming to my TED Talk. + +None of this is financial advice. +As most of you know, we can't evict tenants due to non-payment of rent. + +I have a tenant that owes me ~6k. Can I write it off as charity so I can get some sort of benefit out of the government forcing me to let them live here for free? + +Edit: More details: + +* I purchased the property with the nightmare tenants in February. +* Other tenants stopped paying for a while during covid, but worked with me to apply for assistance programs. +* Tenant stopped paying for water, electricity, and rent in September (which is when their lease expired). They have not paid a penny since then, have refused to file for covid assistance, and refuse access to the unit for pest control or for us to fix the broken water heaters on the unit. +* We filed for eviction in November. Got an appointment in December during which tenant told judge they couldn't pay and we're applying for assistance (which is a lie). +* We have filed for an appeal 3 times now. No date has been assigned yet. +* Tenant is on social security, which my lawyer says cannot be garnished after covid ends. +* This question is serious. I don't expect to be able to write it off as charity, but many people are acting like me providing an expensive service for free is the same thing as not collecting income due to vacancy, but its clearly not. If grocery stores were forced to give out groceries for free you can bet their tax accountants would find a way to write it off. +I have seen some people mentioning that they get good enough side income from dividends which gives them a peace of mind and financial security. I wanted to ask is it really true that dividends can become a good source of secondary income to anyone which he/she can rely on ? +It’s tough holding through scary dips and this one these past few weeks definitely seems big to me. I’ve held through it. I don’t think I’m crazy but have been called as much by many folks some here and elsewhere. Is anyone else in the same boat? +Hi, all! Vacationing for the 6th time in 9 years at a place we love. I’m at the point now financially where I’m starting to think about buying a property to have as a vacation home that I could rent out the rest of the year, then eventually do the snowbird thing. + +I’d love to hear stories about how it’s worked out for you. What you wish you’d known going in, how easy/hard it is to succeed, etc. + +Thank you! +Dip came as a result of the Biden admin talking about banning menthols and cutting nicotine in cigarettes. Looks like a good buying opportunity to me, already picked more up as it dipped 6%. Less nicotine per cig means more money spent by us smokers +**Edit -** [04/11/2021 - The Fake Squeeze theory - Daily FUD Report](https://www.reddit.com/r/Superstonk/comments/moldpw/11042021_the_fake_squeeze_explained_ive_set_out/) \- I've decided to go in depth a little more on the fake squeeze theory in 'tomorrows' FUD report. + +&#x200B; + +**EDIT (AGAIN) -** For everyone saying that *'it might just be true',* think about the most glaringly obvious problem. + +They used Bloomberg and Reuters previously to push the *'We've covered'* narrative (via anonymous source) back in February. + +Whatever the motive here, **Why is their loss being reported in the media AT ALL? Better yet, from sources which Melvin are historically tied to for shilling purposes?** + +**Something is off.** Below is merely the speculation as to why this could be. + +\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ + +&#x200B; + +**EDIT - Thank-you all for being so open to a different view on this. I'd like to just state another couple points:** + +&#x200B; + +* Apes have to realise that there are a lot of silent investors who invested in GameStop that do not browse these subs. You might hold but it might just sway an average human. They are very much at risk to be influenced by MSM. + +*Like my mother...* + +&#x200B; + +* **There's the other obvious motive.** Using the ***"49% down, 51% to go!"*** as a headline makes it look as though retail investors intentions aren't there to support a great company. It's pushing the narrative that we are only investing in Gamestop to take down HFs, shifting the blame from their shitty decisions onto others. They may try and pull the: + +'*we were bankrupted by reddit investors. That was people's pension money. HAVE THEY NO SHAME'.* + +*Cue hate.* + +&#x200B; + +\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ + +Good morning apes *(I would appreciate* u/rensole\*’s input on this)\* + +I have used the possible DD flair instead of news. **As always, please leave a comment and let me know your thoughts.** + +&#x200B; + +https://preview.redd.it/vbxafh15pas61.png?width=307&format=png&auto=webp&s=f07f9896f9f1c30906bda07afcb6e4cf29b6506a + +&#x200B; + +This post is taking a more serious tone because I believe this is important (hahahaha banana police). I never advocate for one of my posts to be actively shared (I never think one is important enough lmao) but for this, I think it’s important lesson for a lot of people and a big reminder. + +&#x200B; + +&#x200B; + +\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ + +&#x200B; + +**The latest news report from Bloomberg shows:** + +# MELVIN CAPITAL IS DOWN 49% FOR THIS QUARTER + +&#x200B; + +&#x200B; + +**Great. Immediately smell bullshit. As much as I’d love to believe this, I still push to question everything (I'm the fud patrol!?)** + +Bloomberg’s source? An insider to the fund. [Shillink](https://finance.yahoo.com/news/1-hedge-fund-melvin-capital-205342159.html) + +&#x200B; + +&#x200B; + +https://preview.redd.it/a7ay8xbfpas61.png?width=452&format=png&auto=webp&s=f1e82e215e235afb9933baaa86bce276866b4244 + +&#x200B; + +&#x200B; + +**Woah so hold on? No SEC filing. Melvin declined to comment and its’ ‘an anonymous insider’.** + +**Bullshit is called on everything else with Melvin. Closing their short positions etc, but because this is confirmation bias, we give MSM a free pass? I mean c’mon….** + +&#x200B; + +&#x200B; + +# NOT ON MY WATCH + +&#x200B; + +\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ + +**This is why I think it’s possibly FUD. Hear me out. Two scenarios here:** + +&#x200B; + +1. Melvin is actually taking heavy losses here and (obviously hasn't closed their short position). T*his would be nice but unverified articles make me uneasy. I can’t reference anything to prove it.* + +&#x200B; + +*Edit-* u/Ok_Read_7160 *pointed out they could be using this to cover for a much bigger loss. It's possible, though they have absolutely no obligation to post their current positions (note no SEC filings). Why would a little HF's loss make mainstream news?* + +&#x200B; + +&#x200B; + +# OR + +&#x200B; + +&#x200B; + +**2. HFs know we can sniff bullshit out from a mile off, BUT THE GUARD IS LET DOWN WITH ANY NEWS THAT’S CONFIRMATION BIAS.** Who bothers to check, its good news right? **WRONG. FUD PATROL CALLS BULLSHIT ON EVERYTHING.** + +The question then has to be asked - '***what would they gain from saying they’re failing?'*** + +&#x200B; + +**Oh I don’t know maybe a FAKE SQUEEZE**. I see the media narrative pushing the following – + +&#x200B; + +*MELVIN CAPITAL AT LOSSES OF 50%* + +*In order to save the failing fund, Melvin has began to cover short positions linked back to GameStop from January. The price rose to $500 during the week of 04/12/2021, with Melvin covering all of their positions.* + +&#x200B; + +(Jeez i’m borderline illiterate and that’s not far off of some of these so caller reporters sound like) + +&#x200B; + +**See that?** **You are led to believe Melvin was the only sinking ship in this battle and to save their fund, covered and made a fake squeeze to make everyone believe it’s all over.** + +Remember the DD stating there would be a fake squeeze to shake everyone? + +And regarding the question ‘what about a margin call’? Well can you not see Citadel have had weeks to fuck around and do whatever is necessary to prepare themselves. **I think Melvin is going to be the controlled explosion to FUD everyone into believing it’s over and for paper hands to take what they can get.** + +&#x200B; + +**This is why HODLING is more important than ever.** + +&#x200B; + +**EDIT 2 - Oh yeah, remember when Melvin were caught doing this in February?** + +Found that link about "Melvin planted stories": [**LINK**](https://web.archive.org/web/20210304081626/https://old.reddit.com/r/wallstreetbets/comments/lxatg6/melvin_planted_stories_about_their_feb_performance/) \*\*(\*\*thanks u/Tavmania) + +&#x200B; + +*Hello apes, I'm a former reporter at Bloomberg. I cannot divulge my name, but ask me anything else and I will try to prove I'm not bullshitting.* + +*Anyway, today we saw Bloomberg, CNBC, and Reuters simultaneously blast glowing articles about how Plotkin made 20% in Feb. Every story came out at the same time and cited "sources" or "people familiar with the matter," but barely had any other details. This is typical of story planted by PR.* + +*PRs will tell every reporter on the street "hey I got a tip for you but don't publish until Wednesday after market." And every reporter thinks they have an exclusive and types up the article. And then PR gets the most bang for the buck as every outlet publishes the same bullshit at the same time.* + +*I would know. I deal with Melvin's cunty COO David Kurd when I was reporting on them. This is his usual tactic. Anyway, I don't know if they're lying about these gains. Probably not. Maybe they fudged some mark-to-market valuations to show a good month. But the bigger takeaways is that Melvin is desperate to improve their image. They are weak. We are strong. Fuck Plotkin and fuck Kurd. Let's keep digging into their positions.* + +&#x200B; + +\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ + +# TL;DR – Today’s Lesson; Didn’t Read + +**Stop believing any confirmation bias from MSM without properly fact checking. It is a HUGE weak spot if they know it’ll run right through without anyone digging into it and can use it to their advantage. Always question motive. Wear your tin foil hat with pride.** + +*It’s possible we could be living in a completely fraudulent system.* + +&#x200B; + +**FUD PATROL OUT.** + +&#x200B; + +*Disclaimer- this is in no way financial advice. Do not base your investment decisions on any of my previous, current or future posts.* +How do you rationalise that the current share market is sensible and justified, but the property market is overheated? It seems that the sentiment on this sub is buy buy buy when it comes to ETFs, but property is an unsustainable bubble. To my eye, the same inflationary forces are pumping up both. In times where the economy is only propped up by more and more government cash. Tightening is inevitable at some point. Why the difference? +Hi everyone, + +Our workplace is transitioning to work from home a few days a week and so I need to start looking for my own place with enough room to set up a station. At minimum I have been looking for 1-bedroom apartments. I am struggling to find something that falls within the 30% of my salary range. + +My take-home every month is approximately $3,000. In my area, the range for rent seems to be around $1600 to $1800 depending on space and if it includes utilities or not. + +Sorry if this is the wrong place for this, but how much would be reasonable to spend on rent? Is the 30% rule outdated? And no, roommates are not an option at this time. + +Thank you for your advice! Location: Ontario, Canada +Hey Apes, I've written a couple posts about this. I'm an OG BeeTeeSea guy. A lot of what I saw back then is what I see now. People that stumbled across something they knew was going to be incredibly valuable in the future and they diamond handed and bought as much as they could. + +GME is another one of these opportunities which I never thought I would get again. I am a high XXXX ape soon to be a XXXXX ape thanks to dumb fucks dragging this out. + +It's never a good sign to count your eggs before they hatch, but when you see those eggs moving, I think it's time to get prepared. + +So what we've seen is a concentrated attack at this sub at the time of 450K puts expiring. If Citadel and co had control of the situation they wouldn't be attacking this sub because it wouldn't be worth their time or money. That isn't an algorithmic reaction, that is a human reaction. We have confirmation they need to us to sell. They lost those puts so they try and break our sub. If you would categorize this behavior as desperate, irrational and childish you would be correct. That is our adversary, just some children in big bodies that are losing. There is nothing special about them. *Imagine trading a world changing amount of money for ruin and rage.* + +So here you are in the right place at the right time, just like they were. So how do we avoid their mistakes. + +Soon, for many of you are going to have what many would reasonably categorize as more money than you could spend in a lifetime. It's important to remember, you absolutely can fuck it up like Kenny Mayo or whoever the fuck runs other no-name vampiric corporations that are involved in this mess. + +So here is the rule that those idiots didn't follow. **You do not risk what you have for what you don't need.** + +In the beginning, **the money will blind your judgement.** You need to **slow down and stay humble**. KSG and co didn't do this. They thought they were invincible. This is called hubris. If you look through history, the mighty have all fallen, from empires, corporations and individuals, they all lose it due to hubris. They think they will remain on top forever. + +Once you have it for awhile and done your splurging, which I urge you to skip, unlike myself. **Spending is subject to momentum, once you start, it is very, very hard to slow down.** You will start seeing where the true value in life is very quickly. **I highly recommend before you buy, see if you end up renting whatever it is regularly and frequently.** Want to buy a property with ocean view? Try seeing if you go to the same place 5 years in a row first and how excited you are when you get there. + +In my experience I have learned that the **most valuable things I have are my time, health, personal growth, my family and friends**. Money can help these things develop, but they really can't buy it. When you are out of time, good luck trading all the money in the world for it. + +So the question for me has become how do I spend my time since I don't have to work anymore, ever. + +**The formula for a fulfilling life is agency, mastery and purpose.** + +I focus on the trifecta, **diet, sleep and exercise**. This is the foundation of my health. I spare no expense here. This is trifecta is quite hard to spin up because they depend on each other as they power your will power and use your willpower. Exercise helps you sleep, so does diet, sleep helps you have the energy to exercise and the willpower to eat healthy. Once you get your self management to a point of excellence, the next stage to focus is on personal growth. Being healthy and having energy feels really fucking good. + +Now that I have more money than time, I have realized money can only help so much with skill growth. **Skill growth is really dependent on time.** You need 10K hours of focused practice to get to a world class level. Commitment to continually improving a skill is called mastery. Mastery doesn't top out you constantly can improve. It feels really good when you learn something difficult. + +Once you are committed to continually improving your skill. **You can now define your purpose. Your purpose is defined as something that helps more people than just yourself. Doing nice things for people that they can't do themselves and without seeking anything in return is the legit best feeling ever.** + +Let's kick back and Lol at diamond hands making 450K puts expiring worthless. +Thinking of quitting my job. It does not pay well. I don’t get enough hours. It’s demotivating and I feel stagnant. + +Has anyone quit their job to just take a year off not working? What did you do in your time off? Did you have trouble getting another job? + +I’m thinking of living humbly for a year, and doing volunteer work/or a 6 month certificate. + +Also spending time with family more and riding the bike more. And working on improving my physical health. + +Another reason why I want to quit is that I have a 4 week notice period and I’m looking for a new job at present. It seems having a 4 week notice period makes me an unattractive hiring option and makes me feel like I’m trapped. + +However I’m a bit scared that I will also be an unattractive hiring option after taking a year off. + +Any advice/experience with the above appreciated. + +Thanks +A recent post called out that FATfire was becoming something more akin to r/investing rather than FATfire, and a lot of people aren't FATfire and have an extremely heavy bias toward a Boglehead or index mindset. I thought I would write something from a FATfire perspective that might address the current change in the market and how I think we could take a different investing strategy from a FATFire perspective. + +**tl;dr version:** + +1. We are going to be in turmoil through the rest of the calendar year, and possibly into next year. A recession is going to happen. + +2. I suggest that you may want to "not indexing" during this time. Key to not indexing is making sure you have a portfolio that hunts. Make sure that you cut problem stocks, such as travel and high debt stocks. Move to Countercyclicals, which I prefer equities with some dividends. + +3. Make sure you have somewhere around 12-24 months of cash like assets to bridge the gap to a vaccine. + +4. There will be a bailout once some companies fail, but this is a personal viewpoint, so you'll need to make up your own mind on how to play this. + +5. Finally, we are in a disease induced stock market correction. You can't expect the same behaviors as a normal economic correction. We are going to probably hit new bottoms. Maybe even much lower. However, a vaccine will trigger a massive rally from this bottom, so watching for the solution is extremely important to gain financially. + +Please don't upvote/downvote on the tl;dr version because it is not helpful to the community. I realize that this is not a "hivemind" summary, which involves "index until it's over." Feel free to blast away at the structured version as this is fair game. + +**The long version:** + +Before you start reading, if you are a Boglehead, I am not knocking indexing. Bogleheading as a strategy back tests extremely well, and I'm not saying you should deviate. + +However, in this post, I want to argue that past performance may not be the best indicator of future performance. Large part of this is because the nature of the correction comes from the fact this is disease issue. Please read this post as arguing the other side. If you refuse to consider any viewpoint other than a Boglehead viewpoint, please move along, you won't like this post. + +ln this light, I want to debate (not go crazy please) from the standpoint that Michael Burry might have gotten it right again, lately. (I don't like his "water phase.") Here is a couple of his latest observations: + +1. [Indexing has become a new bubble](https://markets.businessinsider.com/news/stocks/investors-that-have-spoken-out-against-passive-investing-2019-8-1028485512?utm_source=markets&utm_medium=ingest). Again, I think he is overstating things, but I think that there is a core of truth here that I would like to argue for. + +2. [We do not have a good sense for the future, and we need to understand that things may become worse before coming better](https://markets.businessinsider.com/news/stocks/big-short-michael-burry-cashes-in-on-coronavirus-market-rout-2020-3-1028994855). + +3. Finally, if you "want to be FATFire and not worry about it," this post is not for you. I don't believe in 3 sentence summaries. I believe in rational and deep thoughts. I hope you'll find this is not a rambling post, but something that comes out of trying to be structural, integrative and analytical in my approach. + +A little about myself: + +1. I am still working because I contribute to the world, much of the stuff you see here is basically what I do at work. Yes, I am considered a bit odd, but generally worth listening to. +2. My assets clearly would place me firmly in FATfire as something I have already accomplished. +3. I'm a little past my mid-50s, so I lived 2008 era. I see an incredible amount of psychological overlap. +4. One of my degrees was in finance and accounting. My finance professor traded on the Chicago floor, and he made a rational argument in the '80s to his class that called out being a Boglehead (although he didn't call it that at the time) was the top investment strategy, which I followed as a general principle for over 30 years. +5. I have a Thomson Reuters Eikon seat. This basically gives me access to an extremely rich set of sell-side research. Really, this or a Bloomberg terminal is the only practical way of doing value-based research, and it is incredibly insightful to review other people's financial models. +6. This is USA only view. I think the WW economy is well outside my ability to understand. So, if you are not a USA investor, sorry, I have no help or discussion. + + +**Some thoughts in the current crisis:** + + +* *1. Thought: There was a lot of self deception in 2007/2008, and we may be doing it again.* + +The most interesting thing to me is that the current crisis is extremely similar in its psychological make up to what happened in beginning of the 2007/2008 crash. + +I see a lot of people writing ["oh it was worse in 2008."](https://www.usatoday.com/story/money/2020/03/11/recession-heres-how-coronavirus-crises-different-2008/5012228002/) Initially I agreed with this, but I looked at some of my journal writing at the time, and really I think that people don't remember. + +In 2008, we really did not understand what was happening. There was a debate how much wall street would impact main street. Maybe the Banks were in crisis, but nobody saw that the banks would take everybody else down. + +I remembering people saying "oh buying opportunity." So they reacted too quickly to bring cash off the sidelines, which was basically a horrible move. Or they said, "Wow, now I'm going to use my leverage." I don't need to write what happened here. + +Probably one the best things you could do now is to start a financial journal so you can pull it out and look at it next time a crisis happens. From my perspective, it is dangerous to quickly to say that "we'll get through it quickly." + +Behavior economists encourage us to understand that "confirmation bias" can ruin our ability to make decisions. We need to be extremely fact filled in our thoughts to get to real decisions. It is the time to carefully consider the data. + +* *2. Thought : Even if the internality of the problem in 2007/2008 was worse, the system has a lot less tools to deal with the crisis.* + +The above was written from a psychological standpoint. I do believe that we can argue that the 2007/2008 crisis had an enormous amount of internal rot in the financial systems with CDO and credit default swaps. I think we can argue that we do have a stronger banking system. + +However, unemployment was historically low (5% or so). And quite frankly, we had an enormous amount of flexibility in the Fed, and the problem was a Fed problem. + +If you like "[easy to digest stuff, I suggest reading Wolf Street.](https://wolfstreet.com/)" Now realize that Wolf is absolutely bearish, he is one of the best sources of graphs to help you understand some of the recent moves in real estate and what is happening in our fiscal system. A good graph is worth a lot of reading. + +If you read his site for a while, you'll come back with clear messages that: + +1. The housing market is too hot +2. Debt is too high +3. Deficit is too high +4. The Fed has a wickly high amount of overhang from 2007/2008 + +In other words, 2007/2008 impacts are still here, even if the market set new records. We have overhang. This is what happened. + +a. The fix for 2007/2008 turned on flooding corporate America, from the Fed, with easy money and bailouts, which then became a drug to grow the overall market to PE numbers that are problematic. + +b. Why? Cheap money resulted in a massive amount of corporate borrowing. + +c. This fueled massive amounts of either debt or stock buy backs. + +d. Corporations have calculated their ability to service this debt for an economy which would see 2-3% GDP growth. They are not equipped with the right structure for a slow down. [ They are not, as NNT would write, anti-fragile. They are highly fragile](https://en.wikipedia.org/wiki/Antifragility). + +e. When the COVID-19 really hits, we are going to blow up a lot of business models. + +f. May turn into a chain reaction that will wound a sizable chunk of companies. + + +* *3. Thought : A recession is now greater than 90% chance of happening.* + +If this isn't obvious, I don't know what is. + +[Even the big guys are in on it.](https://markets.businessinsider.com/news/stocks/coronavirus-fuel-recession-forecast-us-europe-economic-july-market-jpmorgan-2020-3-1028994637) + + + +* *4. Thought: The world is going to get worse rather than better in the coming year. This is not a 2-3 month problem.* + +I actually feel incredibly stupid for ignoring the mechanisms of infectious disease until a couple of weeks ago. I started researching it then, and I think I have more than the common man understanding. + +COVID-19 is a a flu. There are three distinctives: + +a. It has an r0 (or R-nought) or 2.x or twice as inflective. + +b. It has a much higher mortality and hospitalization rate + +c. It has no vaccine + + +The flu vaccine is marvelous. One of the reasons we don't notice the flu is that we are successful both in its effectiveness and our vaccination rates. The vaccine dramatically drops when a flu naturally dies in a population, which may not be obvious until you do the math. + +This is why COVID-19 is a pandemic and not the flu. + +The thing to realize is that we have a pandemic as the root issue. We do not have a financial system issue as the root cause. So you have to have some understanding of how pandemics work. + +[One of the very best things I've read is here on the nature of COVID-19.](https://medium.com/@tomaspueyo/coronavirus-act-today-or-people-will-die-f4d3d9cd99ca) Really, I wish I had written this. + +The first thing to realize is that we do have "an end." The beginning of the end is when we get to the mid-point on [the disease logistics curve](http://www.nlreg.com/aids.htm), or when we can widely distribute a vaccine. + +Until we get a vaccine, we either need to let it burn through our population unbridled, which is basically what the world did with the Spanish flu, or we mute the effect of the virus by simply stretching out the inroad of the virus as much as we can so the minimal amount of people are impacted. + +* *5. Thought: Isolation is the only wonder drug, but it has horrible side effects* + +If we don't slow COVID-19, we are going to devastate the USA. It is very clear that if we don't slow it, we will exponentially get to 60-70% infection rate (yes, Angela Merkel is 100% right), we will over flood our 100K ICU beds, and we will have people dying at their homes as mortality rates skyrocket because we can't treat people that need help. + +What a disaster, and truly a horrible impact on our population. + +The Italians got a small taste of this, and decided they need to whip out the isolation wonder drug. The problem is shutting down your country for weeks at a time is going to whack the economy. + +And we are a worldwide economy. Just the current issues are going to impact everybody. + +So we have to use the isolation wonder drug (okay call it social distancing), but this is going to exact a heavy toll. + + +**Integration of the above:** + +Once you understand the mechanisms of the pandemic, you'll unfortunately get a bit sad because you'll understand there is no dodging the upcoming hit. The only thing that we can do is manage the damage. + +Dr. Brian Monahan recently told congress that 70 to 150M people will be hit. This means ~20-40%. This means somewhere around 7M to 15M people requiring some type of hospitalization, and 3.5M to 7M in ICU beds (which we have 100K today.) This means a tremendous amount of churn in the economy. + +Until we have a vaccine, there is no side stepping an upcoming hit. + +So here is where it become unbelievably confusing. Unless this post gets downvote so low that I disappear, I believe this post will stand up quite well if we come back to it 12-18 months from now, in as much as what I have written so far. + +We are headed for bad times. The key to the bad time is that a solution does exist, it is called a vaccine. We need to plot out how much our investments are going to suffer until one arrives, because once we see the solution timeline, Wall Street will come back strong (even before the economy.) + +Remember, this is not a Boglehead view. You could index, but I am suggesting that we don't want to index. Indexing is guanteed to included the losers with the winners. If we can knock out even some losers, we will end up outperforming SPY. + +**Here Are The Three Future Phases I See:** + +*Phase 1: Recession and certain companies fail* + +In this case, we express the moral hazard of allowing companies to fail because they did stupid stuff with their balance sheets. This starts to take down a bunch of people, because they took the risk. + +By the way, this is going to happen in some degree anyway. + +If you own OXY, look for a bounce and get out. Maybe somebody will buy their assets (and Buffet does have a lot of their debt at a great return), but you are gambling with your money. + +Companies like Comcast and ATT have way too much debt for a slow down. IBM comes to mind as having a problem. + +Get out of industries that are going to be really hit hard. If you are holding a cruise line, cut your losses. It's over, and don't hang onto a falling knife. + +Bankrupt companies don't come back. The last thing you want is to be the last one holding the bag. Getting something is better than nothing. + +Then move into some counter cyclicals, maybe with a little bit of dividend income to ease your pain. CHD or Ross stores come to mind. + +By the way, get cash. If you don't have cash, get cash. I need to repeat myself. You need some cash right now. What is the right range? Until this settles down, I suggest at least 12 months of a cash buffer for your cash flow needs. More comfortable would be 24 months. + +What do I mean by this? + +a. You are fat fire and you have in flow of income from either a job, stock (or business), or real estate. + +b. You lose this inflow of money. + +c. You happen to have enough cash that it doesn't matter for 12 to 24 months. You can run your life just like normal. + +Okay, you have some money approaching or at FATfire money. You read my strange and long post, and you get to this section. I hope when the market opens on Monday you liquidate enough of your position to lock in the 12-24 month cash position. I know this is an insurance position, and maybe through some chance, the market is at bottom. + +You need insurance right now. This is the time to buy insurance. Insurance is a cost and not an asset. Buy insurance. If you are sophisticated, you can devise an option strategy cheaper than cash, but most people can't do this. + +So my advice is be simple and hold cash. + +By the way, if you are young and a lurker, just have a normal reserve. I am talking to those that have assets. + +I've written this story before, but I worked for a guy that was a billionaire in today's dollars when I was a kid. He had lost everything. This is because he didn't have enough of a buffer to survive a down turn in the 70s because he got overleveraged and couldn't service his debt. + +But does this future last forever? + +I'm guessing we start this way, but move to phase 2. + +*Phase 2: Welcome to Bailout City* + +If the big companies need money, they can always get it in Bailout city. + +Yes, we have a phenomenal amount of debt, but most countries with a lot of debt that "fail" don't have a real engine. We are a little over 100% debt to GDP. Japan is 200%. Now Japan is not healthy, but it is not failing. + +There is little to no doubt in my mind that we can borrow ourselves through to a vaccine in the market. + +So go ahead an buy ATT with a 6% yield. If they run into problems to service their dividend, the government will come in an give them a zero percent interest loan with no repayment schedule. Still a gamble as maybe bailout city doesn't arrive in time. However, I'm hanging onto my ATT. + +Now, I am not even saying that the bailout will be right, so don't downvote me for this. I am suggesting that we need to simply surf the market. + +However, even under this avenue, I see high debt companies hurt. The only reason to hang onto a high debt company is you are willing to roll the dice that they will get a bailout, and not cut or cancel the dividend. + +In my case, I need my ATT yield to service some needs for projects underway in other parts of my portfolio. So, it is a core part of my assets, but certainly not 100%. + +*Phase 3: We come up with an vaccine, or we have some strong results from some experimental drug.* + +I had very fond hopes for [Remdesivir from Gilead, but the first rumours are not good](https://www.statnews.com/pharmalot/2020/03/13/gilead-coronavirus-covid19-clinical-trials/). + +However, we have come a long way from the Spanish flu, and there are a variety of ways for us to accelerate a vaccine or test drugs in new ways that might blunt the issues. + +Actually I have high hopes for private industry. I hope the government carefully works how to support industary. For example, our testing problem is going to be solve by companies like Thermo Fischer and Roache, because some private business came up with solutions and the Fed government figure out how to approve in 1 business day. + +People are praising the Korean government for how fast they ramped the test kit. What nobody understands is that is that it was the founder of Seegene, a private company, that pulled the trigger on a new test in January. + +I can see that in the current environment, private companies may see that a solution will be fast tracked, and it is worth the bet to throw in resources because the payoff for being a COVID-19 solution is massive. + +With the widespread outbreak that is coming, it would boggle my mind if we didn't have something on the shelves in 18 months. Maybe sooner. + +If you have your cash in hand when we see an end to this problem, and now you have some freedom with your stocks, you are going to see the most massive jump ever. We need to distance ourselves from the 2008 crash in this avenue. + +Stock market psychologic is incredibly important. Our market recovered well from the 2008 crash, but a bunch of people were still "unsure" about the whole thing. + +When a solid solution happens with a vaccine, people are simply going to say "wow, it's over." Now this is over dramatic. The vaccine will come on the end of possibly a lot of churn. However, we understand vaccines. Once proven, with a good dose of scientific agreement, the world is going to say "okay, let's get back to business." + +This means a nice market rebound. + +I blew up my Saturday morning writing and editing this post. I am writing this paragraph as my last paragraph before posting. After all this though, I determined that really this is not just a FATfire strategy, other than I am encouraging a strong level of cash that others may not suggest in an r/investing standpoint. However, I started the post here, so I'm going to finish it here. It's also long enough that it will probably be ignored, but I hope a lurker or two will use it to devise their own strategy. +I might be wrong, but I feel like I've seen a an uptick in of posts or comments recently from young people who are in their first jobs (usually age 18 to 25) and seeking guidance on how to FIRE as fast as possible. Perhaps these are the same users across multiple threads, but it SEEMS like many people want to FIRE but don't want to work along the way. + +Firstly, to those people, congratulations! In my view, you're thinking about life holistically and not defining yourselves by the corporate ladder or submit to others' views of frivolous spending and unnecessary consumerism. That's a great mindset, and I hope you carry it with you for the duration of your careers. + +BUT, I want to emphasize that gaining FIRE is **\*\*HARD WORK\*\*.** There are many people in this subreddit who have inspired me, or provided helpful tips and tricks, and I hope that they continue to support you too, but do not kid yourselves that it is EASY. Many people on here have knack for budgeting, or working multiple jobs, or strong investment results. But don't kid yourselves into thinking that it's something you can accomplish without strong will and dedication. + +AND, furthermore, the path won't be the same for everyone. Some will grow passive income through real estate or dividend investing, others will work side hustles (coding, teaching, opening their own business), and most will cut expenses to live well below their means. It'll often depend on your own personal skillset, passions, priorities, and network. + +On a personal note, I've had many privileges in my own life (high quality education, lucrative career, etc.), but I have had to save, invest, work long hours, etc. in my path to FIRE (on track to FIRE before the age of 40). But I have struggled in other areas of life as a result (i.e. single, without strong family ties). That said, I am quite happy, and very grateful to have such a fantastic community of people willing to share their stories. Please don't abuse their time or insult the mental and physical work that they have put in to get to FIRE. + +**TL/DR:** There are many great resources to FIRE, including the community in this thread, but almost all have had to work hard to find their path to FIRE. I wish you all the best of luck in your FIRE journey, but please remember that for most of us it will take YEARS (and usually DECADES) to reach the end goal of FIRE. +I started a new job 2 months ago on 30k. It is my first job out of uni, so stupidly I didn't negotiate my pay. + +I have just discovered that all of my colleagues in my dept are on 33k, including a colleague who started a month after I did. They said they did not have to negotiate for this pay, and it was just the initial pay given to them when they were offered the role. + +I'm aware I'm new and don't have much of a leg to stand on, but is this worth going to HR about? My colleague said it may be due to my age (I'm 23, the youngest on the team by far) but I still think this is unfair. Would it be idiotic to email HR regarding this or do I just wait until my annual pay review? + +&#x200B; + +Thanks in advance. For context this is London, and I work in IT/Financial services. +buffet said it best about how the market transfers money from the impatient to the patient. + +&#x200B; + +even the most moonish stock ever GME, it's main backer DFV had that position for like 18 months before the explosion. + +&#x200B; + +it takes time to bake a cake. +http://query.nytimes.com/mem/archive-free/pdf?_r=2&res=9507E2D71F39E333A25755C0A9679D946196D6CF + +100 years ago, medical prices were too cheap and there was too much competition: + +"at the present time, there are in existence downtown somewhere between 1500 and 2000 lodges, societies, and benevolent associations founded mainly by the poorer class of workingmen for a double purpose; namely, social intercourse and mutual aid or benevolence." + +"Today there is scarcely an east-side workingman who is not a member of some association which has a physician to take charge of its members... the market price per head is as follows: 1 dollar per year for an unmarried member, and 3 dollars per year for each married member, including his family." + +"For these terms, he is supposed to make as many professional visits in time of sickness as he is called upon to do. + +Many laws (and 100 years) later, medical prices are too expensive and there is too little competition. +See: https://youtu.be/MLgn_kVKjCE?t=1027 + +One of the biggest obstacles to active stock picking (as opposed to indexing) seems to be with all the problems with timing the market. We tend to want to buy when others want to buy, and less when others are fearful (i.e. the worst timing). + +But this strategy seems attractive. You pick high quality companies that you think will surge over the next 20 years (Amazon, Tesla, Disney, whatever you think) and NEVER SELL. + +This takes out some of the issues with active investing where people are getting in and out of the market at all the wrong times. + +What do you think? Would this solve any of the problems with active investing? + +-- + +edit: lots of awesome comments but I think some people aren't being as charitable to the proposal as they should. Using examples of companies that rose and fall after 30 years isn't very fair to the main idea behind this proposal. Let's say buy and hold for 10 years minimum. The basic idea is that you are NOT thinking about getting in and out of the stock at the right times. Buy and hold even on the down years. +Hyundai is now announcing that when you order a vehicle, the ongoing rate is going to be frozen until you take delivery of it and if it goes down you'll be able to get it. + +PC has announced that they'd freeze most prices for the next three months on No-Name products. + +Car manufacturers used to make 1% off deals here and there on financing and food items don't have the biggest margin in the cyclical items world so now that we're seeing those kind of "promotions", is it a sign that businesses are planning that prices/rates are about to be flat or decrease? +I'm currently working as a registered nurse, making about 70k annually. I've thought about returning to school to look obtain certification as a nurse anesthetist (CRNA). In order to do this, I would have to go to school full time for 3 years. + +CRNA programs in my state cost 70-90k and are 3 years in duration. This means I would likely have to take on about 100k in student loans. Additionally, I would not be able to work for 3 years while completing the program. + +CRNAs make between 150-200k per year. My question for y'all is whether it would be smarter for me to continue to work in my current role making around 70k annually, or take on substantial debt to more than double my income? + +-33 years old, married (wife makes about 50k annually), no kids +- $6800 student loans remaining +- around 12 k in car loans between my wife and I +- roughly 90 k saved in 401k between wife and I +-10k emergency fund +- 1400 mortgage payment monthly + +Please let me know what you think! Thanks 😀 + + +Edit: Thank you all for the outpouring of support and advice. I have to admit, I haven't even come close to reading all the comments because there are like 1500 of them. Wow! Thank you for your knowledge. I will certainly be considering your advice as I make this huge decision +Alright, so I though we could do a little game. I think it could be also good as a discussion starter and who knows, we might even change someone's life! + +So, how old are you, what do you do, how much do you earn, how many hours per week? + +Feel free to use throwaways, I'm using one myself. + +&#x200B; + +I will start: 31 Male Architect. I'm based in Portugal (shitty taxes here) and work for companies in the UK, Austria and Germany. I work for a company full time and also work for different clients after work and on weekends. Income combined per year \~ 50K euros (gross). For the full time company work 40h / week, for my freelance projects (normally get a project a month that takes 2 weeks til completion), during peak, I usually do \~55h / week, so basically 95h/week all combined. Yes, will be dead before 40. + +Funny that only after I finished writing this I realized how much I'm getting screwed.... + +&#x200B; + +How about you? +I think most of them are down on short positions or paid by hedge funds to spread FUD. The outlook for 2022 is not as good as 2021 but companies are still generating record earnings. The US economy is growing not contracting(recession) so these guys are not basing their predictions on even the most basic economics. + +The point is to not let them dictate your investment decisions. Do not short and do not use leverage ... have patience and you will have the highest probability of making money. Choose companies that generate consistent revenue, will still exist in 5 - 10 years and get them while they are hot(*buys dip). + +This is not to say that the market won't have temporary downturns, it will and that's a healthy part of its function but see it as a buying opportunity not a panic selling event fueled by social media FUD. Letting FUD guide your decisions is how you lose money in this game. +Protect your shareholder rights. HODL your control number close to your vest. ONLY use it at the official site your broker sends to you. + +Be smart. Stay smart. Go VOTE! + +That is the post. + +Profit to the People. Power to the Players. 💎✊ + +**UPDATE**: *GME WANTS YOU TO VOTE*! This is *not my opinion or attempt to "push urgency"* I am repeating verbatim what **GME wants** you to do: Protect your Voice. Protect your Rights. Make sure your vote is registered! *From the GME 2021 Proxy Statement (read for yourself, fact check for yourself, make your own judgment what GME wants you to do)*: + +"**Your vote is important. Even if you plan to attend the annual meeting, we request that you vote your shares as soon as possible by following the voting instructions contained in this proxy statement**." + +AND!!!! + +"We are **planning for the possibility that the ANNUAL MEETING MAY BE HELD SOLELY BY MEANS OF REMOTE COMMUNICATION** (i.e. virtual meeting.) If we take this step we will announce the decision to do so in advance on the **annual meeting, and detail on how to access, participate in and VOTE at such meeting** will be set forth in a press release ..." + +&#x200B; + +[GME 2021 Proxy](https://preview.redd.it/nsubrafbl4v61.jpg?width=2756&format=pjpg&auto=webp&s=847da45ca8f6eff68a564eeee97a1e7702ab8062) + +&#x200B; + +**UPDATE 2 (4/24)**: Example of sus. webpages circulating on Twitter ----> [https://twitter.com/ThatNeighborBoy/status/1384520127564103686](https://twitter.com/ThatNeighborBoy/status/1384520127564103686) + +&#x200B; + +**UPDATE 3 (4/24)**: TO CLARIFY SCOPE AND IMPLICATIONS: My concern here is not just about phishing FOR your banana to vote, its about malicious elements (i) trying quantifying this sub's shareholder firepower and (2) trying silencing it .... simultaneously, with one stroke. But even with this (sophisticated) tactic, we all know they don't likely have the votes to change the inevitable result of RC's ascendancy considering his insider and institutional support ... **BUT** ... **they sure would love to stifle and minimize the number of recorded votes...especially when compared to ... float.** "Let's see now, 100M votes but only 26M float shares ... me know ape math ..." It would **result in GME knowing the unknown, the most intricately protected HF secret: A close-to-accurate quantification of total synthetic shares circulating**, and the HFer's *true exposure* ... 🤯 + +🚨🚨**UPDATE 4 (4/26)** One of you beautiful apes passed along an **example of a SPOOF (unauthorized/inauthentic) WEBSITE DESIGNED TO GME SHAREHOLDERS:** [**https://www.investorelections.com/enotice**](https://www.investorelections.com/enotice) **/GME/** **login** \--- I've broken the link so no ape accidentally clicks into it and enters their control number. Please remember DO NOT CLICK on any hyperlink to vote on this sub, on another sub, on the NYC sub, at subway, in any email, in a DM or in a freaking birthday card. Wait for your Broker, and if you can't wait CONTACT YOUR BROKER, but follow only the directions and links they DIRECTLY PROVIDE.✊ + +TL/DR : **(i) Protect your bananas like your babies**. Make sure you **(ii) vote early, at the 💯 correct location**, and then **(iii) KEEP AN EYE OUT FOR A PRESS RELEASE about a VIRTUAL SHAREHOLDER MEETING** where (if held) you will be able to exercise your shareholder rights. + +*Not financial advice. I just like the stonk*. 🦍🚀 + +&#x200B; +Protect your shareholder rights. HODL your control number close to your vest. ONLY use it at the official site your broker sends to you. + +Be smart. Stay smart. Go VOTE! + +That is the post. + +Profit to the People. Power to the Players. 💎✊ + +**UPDATE**: *GME WANTS YOU TO VOTE*! This is *not my opinion or attempt to "push urgency"* I am repeating verbatim what **GME wants** you to do: Protect your Voice. Protect your Rights. Make sure your vote is registered! *From the GME 2021 Proxy Statement (read for yourself, fact check for yourself, make your own judgment what GME wants you to do)*: + +"**Your vote is important. Even if you plan to attend the annual meeting, we request that you vote your shares as soon as possible by following the voting instructions contained in this proxy statement**." + +AND!!!! + +"We are **planning for the possibility that the ANNUAL MEETING MAY BE HELD SOLELY BY MEANS OF REMOTE COMMUNICATION** (i.e. virtual meeting.) If we take this step we will announce the decision to do so in advance on the **annual meeting, and detail on how to access, participate in and VOTE at such meeting** will be set forth in a press release ..." + +&#x200B; + +[GME 2021 Proxy](https://preview.redd.it/nsubrafbl4v61.jpg?width=2756&format=pjpg&auto=webp&s=847da45ca8f6eff68a564eeee97a1e7702ab8062) + +&#x200B; + +**UPDATE 2 (4/24)**: Example of sus. webpages circulating on Twitter ----> [https://twitter.com/ThatNeighborBoy/status/1384520127564103686](https://twitter.com/ThatNeighborBoy/status/1384520127564103686) + +&#x200B; + +**UPDATE 3 (4/24)**: TO CLARIFY SCOPE AND IMPLICATIONS: My concern here is not just about phishing FOR your banana to vote, its about malicious elements (i) trying quantifying this sub's shareholder firepower and (2) trying silencing it .... simultaneously, with one stroke. But even with this (sophisticated) tactic, we all know they don't likely have the votes to change the inevitable result of RC's ascendancy considering his insider and institutional support ... **BUT** ... **they sure would love to stifle and minimize the number of recorded votes...especially when compared to ... float.** "Let's see now, 100M votes but only 26M float shares ... me know ape math ..." It would **result in GME knowing the unknown, the most intricately protected HF secret: A close-to-accurate quantification of total synthetic shares circulating**, and the HFer's *true exposure* ... 🤯 + +🚨🚨**UPDATE 4 (4/26)** One of you beautiful apes passed along an **example of a SPOOF (unauthorized/inauthentic) WEBSITE DESIGNED TO GME SHAREHOLDERS:** [**https://www.investorelections.com/enotice**](https://www.investorelections.com/enotice) **/GME/** **login** \--- I've broken the link so no ape accidentally clicks into it and enters their control number. Please remember DO NOT CLICK on any hyperlink to vote on this sub, on another sub, on the NYC sub, at subway, in any email, in a DM or in a freaking birthday card. Wait for your Broker, and if you can't wait CONTACT YOUR BROKER, but follow only the directions and links they DIRECTLY PROVIDE.✊ + +TL/DR : **(i) Protect your bananas like your babies**. Make sure you **(ii) vote early, at the 💯 correct location**, and then **(iii) KEEP AN EYE OUT FOR A PRESS RELEASE about a VIRTUAL SHAREHOLDER MEETING** where (if held) you will be able to exercise your shareholder rights. + +*Not financial advice. I just like the stonk*. 🦍🚀 + +&#x200B; +Update: Thanks everyone so much for your advice! I've listed 2 of our bedrooms for rent today so fingers crossed that house hacking will help us get a down payment. I've learned so much for this thread and I hope others will also. + +Hey everyone! My husband and I are wanting to purchase a rental property next year but we can't borrow to get another mortgage and hard money lenders say we need to have $50k cash. What's your advice? Should we both get part time jobs and save? I feel like there's a better way or a borrowing method we don't know about. FYI we both already have 8-5 M-F jobs and we already own a primary residence. +Today at work I opened the PDF link that was posted. I read it once again, slowly, word by word. + +I already hold X amount of shares because I firmly believe in GME. + +I thought I’d explain the findings as simply as I can to my wife, and friends. + +At dinner tonight ( I live in Sydney ) I explained as simply as I could the whole worth of the 37 pages as I had grasped. I believe I did understand most of it, the extent of criminality Wall Street is involved in, and the simple simple fact that shorts MUST cover. + +I explained to them GME is 140% shorted, I explained the Goldmansachs F3 fuckery, I talked about the FINRA fines that come years later. + +I talked about the AMAs, I explained naked short selling. I explained the TLDRs of the highest voted DDs on this group. + +I ended by telling them about Charter Corporation, the over 280% or so shorting and the bankruptcy. I told them this can’t happen to GME as it is not going bankrupt. Shorts must cover. I explained the NFT announcement. + +I talked about Ryan Cohen and Keith Gill... + +I did say this is not financial advise... + +After some silence, 1 friend bought 10 shares...another bought 5 and I myself bought 16 ( 8 for the wife , 8 for myself ) + +This is the impact of HOC. It has sent ripples not only across reddit, but all the way to Sydney. + +Price is psychological. The truth is out. The house of cards will crumble! +I'm currently 16 years old and I've been trading in demo accounts for about 2 years now. I've studied a lot, but my parents still won't open an account for me. I feel really sad because I want to do forex as my actual job when I'm 18, and I feel like this headstart could benefit me a lot. I also don't want to go to college, and because I'll finish it when I'm 17 years old, I'll basically just be sitting in my room for a year doing nothing, as my country doesn't allow me to get a job. Any tips? + +&#x200B; + +edit: if you are going to say that forex is a scam just don't post. +I’m always trying to learn, and I’m simply hoping that some of you more experienced traders can help with some ideas and insights on what my options are and what might be the best way to manage these trades I’m trapped in. + +Many of you will say that I shouldn’t have sold naked puts on margin. I get it. As they say, "it works until it doesn’t.” I've learned a valuable and expensive lesson. + +To summarize, I sold some puts on margin, got caught when the market started tanking, rolled out the expiration dates a few times trying to avoid assignment and hoping for a turnaround in the markets… and now I’m stuck with some seriously ITM puts and I’m getting margin maintenance calls each time the stocks fall further south. + +Here are the options positions I’m in: + +* AAPL: Dec 16, $165 Put (X4) +* BITO: June 30, $35 put (X1) +* TNA: Oct 21, $69 Put (X1) + +This portfolio also includes: + +* AAPL: 330 shares +* SPY: 50 shares +* …and a few others of less significant value. + +What are some of the options I have to manage this and minimize the pain and losses? + +1. I could wait it out, sell calls on the AAPL shares I own, and keep feeding the account with cash and hope things turn around. But that’s unlikely in the timeframe I have on these contracts. Eventually these puts are all most likely going to expire ITM leaving me with a large margin debt balance and I’ll be underwater on all of the shares. I can then try selling calls on the newly acquired shares, using the call premium to pay the margin interest… but that could be a long uphill, losing battle. +2. I could 'buy to close' the puts now, taking on that expense as margin debt. This would result in less margin debt than the first option of taking assignment of the shares. But I also have to consider that buying to close the contracts leaves me with nothing. I won’t have the underlying shares, so I can’t sell calls or generate any cash from that scenario. + +What other ideas/options should I consider? How have you managed trades that have gone against you? + +Let me know if you have any questions that would help you evaluate the situation. + +Thanks in advance for any wisdom and advice you can share. + +\---- + +EDIT to focus on main topic. +I recently came to the realization that outside of profit-related ways to spend my time, I don't really have any hobbies to enjoy with my free time. I'm curious what yours are! +Dear u/Brintoul and u/AlwaysHavingFun2020, + +Hi. Hope you had a nice weekend and are staying safe during this interesting time. I am writing this letter today out of love for this little community carved out in this corner of the internet. + +I'll cut right to the chase. I'm sure you have noticed recently the change taking place in the postings. More and more we are seeing the same posts over and over again, and I think it is high time this subreddit carves out its own unique rules for posting and commenting. No longer do I believe the site wide rules of Reddit are good enough for this community. We have become too large and specialized. As a result, I am officially proposing on behalf of myself a codification of a series of rules, to which I will be detailing below. You may take them or leave them, modify them as you wish, but let the records of the internet show who suggested them. + +Posting rules: + +1. **No self promotion:** Direct links to user-generated YouTube Videos, Blog posts, advertisements, etc. all fall under this category. + +2. **All advice must be given in good faith:** This is a community dedicated to the sharing of genuine advice. As we want to help people prepare for their entire financial future, advice shown to be given in bad faith will be removed with no warning. Repeated violations of this rule will result in a permanent ban. + +3. **No posts encouraging insider trading, violations of SEC/ESMA guidelines, or other unlawful activity.** + +4. **If you want to post an image of your portfolio, the image must come from a certified brokerage:** If you do not feel comfortable displaying the exact value of your holdings, feel free to blur them out. + +5. **Do not critique another user for having a lower share count than you in a particular stock:** Especially in this economy, people are trying to set aside whatever they can. Don't judge how much other people have in their bank account. You don't know what they are experiencing. + +6. **No referral links:** Links generated when sharing one's portfolio through brokerages like M1 are exempt. + +**Insider Trading Policy:** If you are a [Section 16 Officer](https://www.sec.gov/smallbusiness/goingpublic/officersanddirectors) in any US company, to prevent any conflict of interest, we ask that you please disclose this information when you post, regardless of whether you are talking directly about the company in question. Unique user flairs identifying yourself as a "Section 16 Officer: $[Ticker Symbol]" may be handed out at moderator discretion. Posing as a Section 16 Officer, or failing to identify oneself as such in postings may result in actions up to and including a ban. + +The above rules I officially submit to you moderators. I nominate them to be the bedrock of our new rules. Any users of this subreddit wishing to second the nomination of these rules, please feel free to let your voice be heard in the comments. Please also let me know how I can change the wording to sound better. I just whipped up these rules at 1:30am based upon my immediate recollection of what I have personally seen happen on this sub (minus the Insider Trading Policy, I just think we need that because we deal in stocks.) + +Will this require more active moderation? Probably. Am I willing to put my money where my mouth is and help moderate? Yes. Am I just trying to become a mod? No. I just want this community to succeed. + +In closing, I and the rest of the community hope to hear from you soon. Stay safe everyone. + +Sincerely, + +Firstclass30 + + +P.S. If you have any additional rule suggestions, please post them below. +I found this whilst scrolling through cobf. I thought it might be interesting to some of you + +[https://thecobf.com/forum/uploads/monthly\_2021\_10/20211031\_163139.jpg.16081a6ac1411ba2ab01831a590b14b9.jpg](https://thecobf.com/forum/uploads/monthly_2021_10/20211031_163139.jpg.16081a6ac1411ba2ab01831a590b14b9.jpg) +I’m trying to save time for myself basically. What do you think of this platform? I noticed the premium trial shows comparisons between “similar” companies which seems useful. Moreover worth mentioning that I can already get access to the articles for free easy enough. +Your markets are run by bots. Now your daily threads are too. + +&#x200B; + +This thread is for plans and thoughts prior to the market open period. + +Maybe use this time to read the [wiki](https://www.reddit.com/r/asx_bets/wiki/index/) [.](https://styles.redditmedia.com/t5_2hqqj5/styles/communityIcon_41pmnaqp4zn41.png?width=256&s=59bf38425fb316fdcba30365b272a5f19352f370) + +&#x200B; + +Posts relating to the "Is /r/ASX_bets about finance or effect your mental health?" etc will lead to a ban of the mods chosing. [You have been warned](https://www.reddit.com/r/ASX_Bets/comments/l0l9et/the_does_asx_bets_effect_your_finances_emotions/?utm_medium=android_app&utm_source=share). + +&#x200B; + +[We have an active official/unofficial discord. It's open to all discussions, stonks related and non-stonks related](https://discord.gg/wsNDGTf5QH). +Your markets are run by bots. Now your daily threads are too. + +&#x200B; + +This thread is for plans and thoughts prior to the market open period. + +Maybe use this time to read the [wiki](https://www.reddit.com/r/asx_bets/wiki/index/) [.](https://styles.redditmedia.com/t5_2hqqj5/styles/communityIcon_41pmnaqp4zn41.png?width=256&s=59bf38425fb316fdcba30365b272a5f19352f370) + +&#x200B; + +Posts relating to the "Is /r/ASX_bets about finance or effect your mental health?" etc will lead to a ban of the mods chosing. [You have been warned](https://www.reddit.com/r/ASX_Bets/comments/l0l9et/the_does_asx_bets_effect_your_finances_emotions/?utm_medium=android_app&utm_source=share). + +&#x200B; + +[We have an active official/unofficial discord. It's open to all discussions, stonks related and non-stonks related](https://discord.gg/wsNDGTf5QH). +Your markets are run by bots. Now your Weekend threads are too[.](https://styles.redditmedia.com/t5_2hqqj5/styles/communityIcon_41pmnaqp4zn41.png?width=256&s=59bf38425fb316fdcba30365b272a5f19352f370) + +Read the [wiki](https://www.reddit.com/r/asx_bets/wiki/index/) people. + +[Posts relating to the "Is /r/ASX\_bets about finance or effect your mental health?" etc will lead to a ban of the mods chosing. You have been warned.](https://www.reddit.com/r/ASX_Bets/comments/l0l9et/the_does_asx_bets_effect_your_finances_emotions/?utm_medium=android_app&utm_source=share) + +[We have an active official/unofficial discord. It's open to all discussions, stonks related and non-stonks related.](https://discord.gg/wsNDGTf5QH) +I built a Neural Network model (using Python and TensorFlow) for forecasting stock prices in 2016 and used the algorithm in my hedge fund in 2017. I made a [video](https://youtu.be/w1xXI4-l1D8) which provides a step-by-step walk through for how to create, train, and evaluate the model for the the purpose of generating buy and sell signals for financial securities. + +The methodology should be very useful for anyone looking to build something like this. + +This example utilizes a four layer neural network for trading volatility ETPs but can be easily modified to include other securities and metrics as predictor inputs. +Something like GME will never happen again, EVER!! We need to say this more. + +The laws they'll pass will make it impossible for naked shorting of this level. Even single share apes are holding is a blank check. + +We've sat through 3 months of FUD, and obvious market manipulation. Do you really want to look back and say "Ya I sold at 1k, a day before it hit millions." + +🚀🚀🚀🚀🚀🦍🦍🦍 +Since QE1 10 years ago I've been preparing for extreme inflation. In late 2009 I had almost all my net worth in my home and precious metals. 10 Years laters its in property, precious metals and bitcoin. I am confused how we went a decade printing record amounts of money but an avocado still costs $1, my rent is still $650 a month and I just bought a great used Honda for $5,000, 10 years ago I paid $4,000 for a similar quality used car. Gas has gone DOWN, I can fly cross country for $500 (same as 10 years ago) and of course my electronics are all vastly cheaper than 10 years ago. + +&#x200B; + +I think the answer to this question is the only thing that isn't the same price, Berkshire Hathaway during the same time has gone from $100,000 a share to $350,000. Is this it, we doubled the money supply and put it all in stocks? + +&#x200B; + +&#x200B; + +[https://duckduckgo.com/?q=us+money+supply+over+time&t=canonical&iax=images&ia=images&iai=https%3A%2F%2Fcdn.jmbullion.com%2Fwp-content%2Fuploads%2F2017%2F04%2FGold%25E2%2580%2599s-Price-vs-US-dollar-M1-M2-M3-image-2-e1492544776864.jpg](https://duckduckgo.com/?q=us+money+supply+over+time&t=canonical&iax=images&ia=images&iai=https%3A%2F%2Fcdn.jmbullion.com%2Fwp-content%2Fuploads%2F2017%2F04%2FGold%25E2%2580%2599s-Price-vs-US-dollar-M1-M2-M3-image-2-e1492544776864.jpg) +The fund is in the NFO stage and closes on 25th November 2021. + +The MSCI EAFE is made up of the companies in Europe, Australia and the far East. The fund omits US and Canadian companies from its portfolio. + +The fund's most heavily weighted countries are U.K. (20.4%), Japan (19%), France (15.2%), Switzerland (14.7%) and Germany (11.2%) + +The fund will be rebalanced quarterly with cap on Country Weight at 40%. + +The fund gives debt taxation with indexation benefits after 3 years + + +What does everyone think of the fund ? I personally like the direction that Motilal Oswal is heading in offering multiple Index funds to customers. +But, I wish they introduce an MSCI world index with US included as well so that one fund would take care of entire global developed world diversification. + + +[ET Article](https://www.google.com/amp/s/m.economictimes.com/mf/mf-news/motilal-oswal-amc-launches-of-motilal-oswal-msci-eafe-top-100-select-index-fund/amp_articleshow/87772713.cms) + + + +[Motilal Oswal page](https://www.motilaloswalmf.com/mf/nfo) +I'm pretty new to ETF's and have only ever bought traditional shares. I'm really keen to start purchasing ETF's and have narrowed it down to VTI or VOO but I'm a bit confused which one to buy. They essentially look the same however VTI is a cheaper price meaning I can buy more. Are there any real differences other than VTI having some small-cap companies? Are there any benefits to choosing one than the other or are they pretty much the same in terms of purchasing and growth? +Hello everyone, + +I started this year as most new investors have in the stock market. Riding a bullish market and huge comebacks from the coronavirus, my account was up 280% and reaching 50K. I then proceeded to jump onto the SPAC craze and made some money and then had some major ups and downs there. In one day I lost 10 thousand dollars all because I wanted to keep making the next big trade. + +I probably checked my phone 100 times a day and was on an emotional rollercoaster. I truly was addicted to trading and even in winning positions, that I knew were long holds, couldn’t be held for more than one week + +I’m posting this because I’m choosing to go the ETF route and I’m going to let my gains and wealth build over time the smart way. It’s very difficult for me to do this, but I needed help while still investing in my future. + +If you guys could post success stories, long term gains, and wealth built from this strategy it would truly help me. All I see these days are people gambling in penny stocks and hitting it big and it doesn’t help me whatsoever. + +My positions + +100 shares SPY + +900 shares ICLN + +750 shares BETZ + +Adding 500 bucks monthly plus added per diem from my job. + +Thank you guys in advance! +Alright numbnuts, listen up. People have been talking about the recent loopring transaction and I want to make sure we take a fucking second to think this through 😩👇 + +https://twitter.com/loopringbot/status/1460642004925399049?s=21 + +It’s coming from a wallet that has been previously connected to Daniel Wang the CEO and Founder of Loopring. (See edit at the footer for sauce) + +Yes the amount of coins is very close to the GME free float, but that’s literally just a coincidence, and only because you’re counting in the millions, it’s like $500,000 off. Remember shitheads, in the case of a dividend, it must be distributed to the total outstanding shares which is 76 Million. + +ARE YOU AS DISAPPOINTED AS MY FATHER IS?? WELL BEFORE YOU GO OUT FOR INFINITY CIGARETTES, WHY DON’T YOU HOLD ONTO YOUR FUCKING JIMMIE JOHN FOR A SEC. + +WANT TO KNOW WHAT IS BULLISH ABOUT IT??! + +Because Daniel Wang is moving a portion of his (presumably personal) stake from Layer 1 to Layer 2, onto the LoopRing Exchange. + +Layer 1 is where all the normies exchange Ethereum at a nominal rate of 13 transactions per second. This massive sum of LRC is being moved onto Layer 2 in the LRC Marketplace. Want to know why Daniel would put his massive, heaving wang on Layer 2? Because this exactly where the GME marketplace will theoretically take place. So in order to support such a MASSIVE new partner’s NFT marketplace they need MASSIVE liquidity. Daniel Wang could be using this money to become a Liquidity Provider. From the LRC website: + +> Liquidity providers (LPs) currently earn 0.15% fee from all trades in the pools they provide liquidity to, proportional to their share of that pool. To become an LP, like Uniswap and other AMMs, you simply deposit an equal value of both assets in the pool. Depositing to a pool incurs no fees, and per usual, it’s gas-free too! + + +Okay but why the need for liquidity? You want to know why? + +Remember how Ethereum is able to do 13 transactions per second? Loopring can do ~~400,000~~ 4K-5k transactions per second. To put that into perspective, Visa can only do 1.7k transactions per second and you still have to wait 30 awkward seconds with your hand down your pants while you play with your small wee wee. + +Let me repeat… + +#4k-5k TRANSACTIONS PER FUCKING SECOND, MY DUDES + +4-5k per second requires a lot of liquidity to facilitate when onboarding tens of millions of GameStop Power Up reward members. Speculatively speaking, a launch around Cyber Monday would have high demand and traffic and necessitate the CEO providing personal assets for liquidity. + +Some of this is opinion and speculation so I’m going to label it as such. That said, this has my tits jacked to infinity. As an NFT artist myself, GameStop (with the tech of LoopRing) is going to revolutionize the NFT marketplace. + +🚀🚀✨🚀✨🚀✨🚀✨🚀🚀🚀✨✨🚀🚀🚀✨🚀✨🚀🚀✨🚀✨🚀🚀🚀🚀🚀✨🚀 + +EDIT: I had some questions on how we know the wallet is connected Wang. Thanks to u/YouAreAPyrate for doing the DD, Check out the sending wallet👇 + +“https://etherscan.io/tokentxns?a=0x40a511de41d71a466b229ff9f3ec5444b4c7b6b0 + +Scroll to the bottom, from the activity it looks like a wallet owned by danielwang.eth, or at least one that he's made several very large LRC transfers to.” +So my strategy is very low-frequency and I still like to manually review when it finds a signal before making the trade. Currently that means I have to be at my computer to check it, but does anyone know of good Python libraries to handle notifications? Text/e-mail alerts maybe? + +Right now it seems like the best solution may be running the script on my phone itself but I'm sure my battery would not appreciate that. +Long story short, my father just moved into my apartment after being kicked out of his girlfriends place and having no where to go. I have 3 other roommates and its pretty awkward as we are all 21 and hes 45 and not paying rent. Hes thousands in debt from toll violations and trouble with the law. He has very bad credit. I want to help him. He has really big issues spending money and before he moved in he agreed to give me 3/4 of his paycheck to put in a spare savings account of mine where he cant touch it, he makes around 2400 a month. His car was repo'd and he cant get it back for whatever reason from the tow place so he needs a new car. How do i help him and what do i do? I have no idea where to start.. + + +**Edit** It seems I was a little vague so to clear some things up: + +He is addicted to hydros and ive told him if i find them he's out, no questions asked. + +He works as a window cleaner/ gutter installer so he needs a larger car, big enough to store a ladder and equipment. + +His trouble with the law is till violations and has been arrested multiple times for driving with a suspended license and now has to go back and take the test to get his license back. + +I live in Texas, DFW area. +Changing Jobs Every Few Years Pays Off + +I, like many of you, am always looking to increase my income and contribute as much as I can to one day become financially independent. Every 2-2.5 years I search the market and pleased with the results. This time I was able to find a company that besides their share purchase program (matched at 15%), they also provide managers with $8000 in restricted stock (+/- Price Movement) every year. I think I'll be sticking with these guys for a little while. + +2010 to 2015: Avg $40K-50K Salary + +2015 to 2016: 38% Wage Increase + +2016 to 2018: 29% Wage Increase + +2018 to 2020: 34% Wage Increase + +[Latest and previous offers.](https://imgur.com/8xfZEBi) +Hello everyone, + +We are a couple of non-EU citizens in our mid-30's with a baby, currently living in Germany. We are both engineers with masters, multilingual (EN,FR,ES,DE) with +5 years experience in project management/ technical sales in the energy sector. Both with permanent resident permit allowing us to work anywhere in the EU. + +During the peak of the pandemic we realized how alone we are in this country, therefore we have been think to move to Spain given the fact that my partners' siblings and best friends are living there. +This is intended to be a plan on a mid-term basis given the current general situation. + +I am not really aware of what could be our financial situation in Spain therefore I would like to have your feedback on it. Additionally we are aware of the unemployment rates and how there is a whole generation struggling since the 2008 economic crisis now facing corona crisis. + +Our current household income is around 125k€, which means approximately 75k€ net ( 40% goes to the tax office and to social charges). + +1. What can we expect to earn in Spain given our background and experience? + +2. How different are job conditions in Spain compared to Germany? + +3. How difficult is to land a permanent position for people in our age range 30-40? + +Thank you for your feedback! +Hey, everyone. I just thought of investing in small cases. On the website, it states that for an investment of more than 4k I will be charged ₹118 as a fee(₹100 + 18% of ₹100 as GST). But it is prompting me to pay 3% of the total value of the case I am buying as a fee. + +This is what I am trying to buy. [https://media.discordapp.net/attachments/753408275558695072/934307393179881472/Screenshot\_2022-01-22\_100928.png](https://media.discordapp.net/attachments/753408275558695072/934307393179881472/Screenshot_2022-01-22_100928.png) + +This is the amount it is asking me to pay, [https://media.discordapp.net/attachments/753408275558695072/934307472108306553/unknown.png](https://media.discordapp.net/attachments/753408275558695072/934307472108306553/unknown.png) + +Any help or clarification will be appreciated. + +&#x200B; + +Edit: So what I learned from this thread is that Small case is overhyped. + +Edit: I was trying to buy when the market was closed, so it was asking for extra funds just to make sure it has enough funds to process the transaction when the market opens. +Im broke. Exhausted. Cant wait to get paid tomorrow so I can just throw it all at bills that won't stop. Paycheck is spent before it even comes. Fuck I'm so tired of this. +Any advice would be appreciated. + +I grew up poor, I'm in my mid-30s now. Up until 7 years ago I struggled financially with my wife, then my company started to make some money. Last year I figured out some great software automations that has led to a lot of easy growth. I made $140k last year and will triple that this year working a lot less hours. I expect the growth to continue through next year. + +While growing up I was taught to make money at all costs, that was the way to be happy. That's what I have been doing. I never really learned how to take care of myself, as both my parents were very unhealthy emotionally and physically. + +Now I have some money and am pretty miserable. I no longer have to work long hours (I've automated most of the business), 5 hours a week tops which I do remotely. I have traveled, bought toys, bought a nicer house, but having all these options makes everything seem empty and joyless. I have a couple niche ecom brands that could grow faster. It stresses me out that both could be so much more, but I am too lazy to make it happen. Knowing the truth that making more money doesn't lead to being happier really puts a damper on working harder. + +I worry it will all disappear, I have been getting fat. I drink more beer than I should. I scan reddit and news on my phone a lot. I have no clue what to do next. + +I am married and have 2 young kids. I love my family dearly but it's not enough to get me to shape up. We are spending 2 of the next 6 months traveling together and I am going to try and clear my head. We leave on the first trip in 3 weeks for a month. I would love to be in better shape before we leave so I have more energy on the trip. + +What I want is to be happy. Have fun like when I was young, go on adventures with my family and love them better. Eat better, lose weight, learn to chill and not worry about the business, but I'm struggling to make this all happen. I've tried 5 times in the last 6 months to change my unhealthy habits by eating healthier, drinking less and getting exercise, but I keep failing. + +I think the lack of work is giving me more time to be bored and worry, so I drink beer. I honestly believe I can have whatever I want in life, but I am letting it slip through my fingers. I feel guilty that I have this opportunity that most don't. My friends are all struggling, working their tails off with no free time and here I am whining that I have too much time and nothing to do. + +I have seen a few therapists. I had a good one in my old town, but haven't found one in my new city that I like. It doesn't seem like my complaints are taken seriously when it becomes obvious I make money doing nothing. My friends and family are similar in that they can't relate to my problems. I am not clinically depressed, I am just lazy and not motivated. + +Anybody been here? I would love to hear your story and how you got through it. + +&#x200B; + +Edit: Thank you all so much, I'm honestly choking up. The advice here is really motivating, and you all have been so supportive with your comments. I had no idea I would get a response like this. To be honest my uncle passed a few days ago and I have really been down on myself since. I posted this to try to get some ideas and now I have so many. Thank you so much! +This increasing level of FUD and manipulation of mainstream media has long been foretold. For nearly two years there has been a coordinated effort by TV personalities and investing "analysts" to discourage GME investing as much as possible. Now that they are directly targeting RC, we know that he must be getting closer to reaching his goals. There's is an increasing air of desperation in the media, which has become obvious as they have gone so far as to accuse RC of stock manipulation and even filing SEC complaints. Today motley fool blamed RC for the drop in spx. + +What next? They will start to blame us next. They will vilify us and say we are part of a dangerous cult that wants to destroy the market. Soon, they will use fear mongering to frighten our parents, friends, and coworkers so we will be criticized, pressured, and finally ostracized by those close to us. I wouldn't be surprised if MSM called us financial terrorists while the markets are crashing. + +I've been here since the beginning of all this, watching and reading. The DD has been coming true in a prophetic way lately. I'm so very excited for what comes next. I am ready to weather this coming storm, because I know what the outcome will be. Everybody needs to know that things will get harder before they get easier, because nothing worthwile comes without struggle. Many of us have experienced financial stress and even tears during this tribulation, and more will surely come, but we have seen the enemie's fear and we now KNOW that we WILL outlast them. All we have to do is buy and hold, and forget the media. Forget what your dad says when he watches the news. Think about how we are holding for systemic change, and for justice against those who have hurt so many Americans with their short selling and over leveraged treachery. + + +RC if you are reading this, nobody here is discouraged by any of this. In fact, we are more jacked than ever. We are with you as investors and we love the company. We have been made ready for this over the last 18 months, and we are prepared for more. Let's fucking do this! + +Buy Hold DRS +Anyone remember Yowies, those chocolate things with a toy goblin inside like a Kinder Surprise but shitter? + +Yeah well anyway they’re listed on the ASX under the ticker YOW - which is pretty amazing to start with because all they do is sell shit chocolate with toys inside to autistic and shitforbrain kids that pressure their pushover parents. But then I started digging and found out they are also the proud owners of [the worlds greatest website for a listed company](https://yowieworld.com/investors-and-corporate/) which just has links to ASX announcements meshed together with cartoon photos of Yowies like it’s a mid 2000’s miniclip game or some shit - that’s how you know they’re a quality company. + +But then I had a look at their financials and this mob actually make money selling these toys to autistics, in the last 4 consecutive quarterlys they’ve been cashflow positive - legitimately making a profit off the autistic instead of burning $2m a quarter digging holes in the ground like 90% of the ASX - so that was a trip. + +Then I looked at their valuation; + +At $.042 per share, their current market cap is $9.1m AUD + +Based on their quarterly which dropped last week, they have $10.5m AUD in cash + +Which means they’re currently trading at 1.4 million BELOW their total cash amount, and these fucking carton goblins are actually profitable. + +Is this the biggest layup on the ASX? Have the goblins swindled the market by tricking everyone into thinking they’re a joke company? Have I missed something? +Alright you beautiful apes, time to take a moment and read about the safest speculative stock on the ASX. + +If you havent seen u/shadowpheonix2's post from a few days ago, please read it first because it is absolutely fantastic. It can be found [here.](https://www.reddit.com/r/ASX_Bets/comments/lk4r65/dw8_and_why_you_should_own_it/?sort=new) + +This post will be a little different to that one, as he predominantly goes through and explains what the company does, how they got to where they were, how they operate, where they're going, and the financials. I will be discussing the sentiment of the stock, as well as what has happened to the share price over the last 6 months. + +Rewind back to 1st of June 2020, when DW8 was priced at $0.006. It was around this time that interest in the stock began to increase exponentially, and as a result by the 14th of September we hit our ATH of $0.063. A 10 bagger in the space of 3 months. This would peak the interest of most people, but its what happened at the top that is most interesting. The huge increase in share price was due to promises by the company that the B2B platform would be released by the end of 2020. This excited quite alot of people, but im guessing the question on your mind is why? + +Well, the B2B model proposed by Dean Taylor, CEO of DW8, has the potential to be absolutely massive. In a nutshell, the goal of the B2B platform is to simply the process & maximize the efficiency of bars, restaurants, clubs or any other venue's which stock not only wine, but any alcoholic beverage (this is the long term goal). + +It allows venues to... + +* Monitor their stock levels real time through the Wine Depot app +* Access a broader range of products at heavily discounted prices, increasing their profit margins while keeping their prices the same +* Automatically re-order diminishing stock - No minimum order size! +* Flexible payment and credit options to help with cashflow management +* Analyze real-time data - This allows them to see long-term sales trends that would have otherwise potentially gone unnoticed +* One invoice for all - There isnt a single bar in Australia that only stores one or two different brands of alcoholic beverages. They may store 20, 30, 40 or 50 different types as a bare minimum. From an accounting perspective, it is extremely annoying to monitor stock levels, make sure invoices are paid and most importantly know exactly when to re-order to receive the goods on time (E.g Supplier A takes 2 days to process the order and 5 days for delivery, while Supplier B takes 1 day to process the order and 10 days for delivery) + +All of this is done through one simple app. + +This all sounds fantastic, but im sure the question on your mind is why has the SP dropped and going sideways since the ATH? The answer to that is the announcement in September which mentioned that the B2B marketplace will be delayed to March 2021. We are currently in a bull market, and as a result investors are not comfortable parking their funds in a stock that will most likely travel sideways until the next big upswing, which would be the release in March. This resulted in the SP dropping to the Mid-4's, and has stayed there for some time until only just recently. + +The most critical piece of information that was missed in the previous post in DW8 is regarding the unlisted options. Previously, DW8 was under a different ticker, under different owners. When the business was purchased and converted, the previous directors were provided with 221 million unlisted options to convert at 0.03c by 23/2/2021. + +Most of these options have been converted and sold on the market, with roughly about 20m options left to exercise - chances are these options are already exercised as the cleansing statement can take a couple days to come through. The amazing part is that even though 200 MILLION shares have been converted at 0.3 cents and sold on the market for an average of 0.45 cents, this was effectively free money for the previous directors who hit the jackpot. Through all of this pressure, the SP remained strong and did not drop under 0.4 (if it did, it was very brief and gobbled up immediately). Most short-term shareholders would have seen the constant sideways action and jumped ship, but there were many, including myself, that took this opportunity to increase our holdings in anticipation of the future of the business. + +These 221 million options were converted at an exercise price of 0.03 - this generates millions of dollars in cold, hard cash for DW8. In total, once exercised, the total amount of cash received is $6,630,000. This is where it all starts to get exciting. Now that the constant downward pressure will soon be over, this stock has become a coiled spring. The SP has increased from 4.1c (our low in the last few weeks) to a 5.8c close on the 19th of Feb. This is an indication of what will happen once the downward pressure is over, and we arent far off that at all. If you also factor in that we are going to see multiple announcements over the next few months, including... +