diff --git "a/reddit_finance_43_250k_83.txt" "b/reddit_finance_43_250k_83.txt" new file mode 100644--- /dev/null +++ "b/reddit_finance_43_250k_83.txt" @@ -0,0 +1,10000 @@ +* Soft launch of B2B in March, with the offical launch in April +* Onboarding of new brands and suppliers to go in tandem with the B2B launch +* A partnership with Vivino was released last week, and now there is anticipation of similar announcements with Ebay & Amazon +* with over 7m in the bank, DW8 is cashed up and ready for another acquisition, or two, or three depending on size and exposure. + +Then it becomes very clear that this is only heading upward. This is only a small piece of the puzzle for DW8. + +I initially bought in as a day trader, but as i read more into DW8 i increased my holdings substantially (5% of my portfolio > 75% of my portfolio in the last 5 months). This is the one speculative stock which allows me to sleep freely at night, due to the following reasons; + +* As stated by Dean Taylor, Covid is actually a tailwind for DW8 instead of a headwind; +* The wine tarrifs in China only increased the potential for gains, as now there is an oversupply of wine in Australia that needs to be moved quickly and as cheap as possible; +* This is not a speculative stock that is waiting on the release of mining grades, a medical experiment that can go 50/50, etc - this is a slow growth startup that will increase EXPONENTIALLY once the ball gets rolling. The Wine industry is heavily influenced by word of mouth, and once the overall ease of the process is noted and documented by trade buyers and suppliers, we are going to be massive. + +Disclaimer: I currently hold 2.5m shares purchased in the low 4c range. I missed the early train, but i can easily see the 10x potential from here in the next few years. I would not be surpised at all if we are trading in the 20-25c range by the end of the year once the growth becomes exponential. + +As always, DYOR as i am not a financial advisor. I dont even drink, i just like this stock! +Saw a couple of people immediately getting burned by jumping into LKE this morning and being down 10% wondering "Am I retarded?" Short answer yes, long answer still yes, but it will all be alright. + +Firstly, addressing the spike in price and profit taking, this is NORMAL. Remember there are a fuck load of people holding this stock from the single digits. These people don't need to wait a year to get big fucking bags of cash, they can get it now. This process of taking the profits after a news story is not only expected but healthy, as it pads out millions of shares, at this point over 12million, at holding above 42c. Now while some of these people are short a chromosome and will likely panic and sell as it dips off the spike, most of them will hold, pushing the average price of the share higher and giving us new ground. + +Secondly, this IS NOT our moon moment, this was mostly priced in for starters, there was very little doubt it would be anything but good news, even Stephan Prominitz said in his interviews that he did not expect this to move the price. This is a great achievement, and a really good indicator towards the future, but it's not an announcement that adds value to the company, they're coming later this year. This report is the first results of a year long process that forms the DFS, the NVX tests will continue for a few months and we will likely see some more results that have more concrete implications. + +Thirdly, what are we waiting for? A FUCK LOAD. The things that really matter are in the pipe line, off take agreements, partnerships and construction debt financing. These are all things that are locked and loaded for release this year, I encourage anyone interested to go back and look at some of my previous posts with interviews. You can also expect some captial raises which will bash our heads in a bit, but again, this is all normal. + +Lastly, to the guys who cashed out this morning, well done, don't let anyone shame you for taking profits, congratulations and fuck you, to the new holders who bought at the new ATH, thank you, without retards like you we couldn't keep growing. To everyone wondering if they should fomo in and what price to look for, 40c will probably be our new float around, high 30s to low 40s is a fantastic entry at this point in time. + +Disclosure, currently holding, no intention of selling this year. Sell target is 3.50$ average buy in is 22c. DYOR. + +Good luck everyone ✋💎🔋 +Has anyone done up a code to backtest Piotroski F-score or Ben Graham's 7 criteria for stock selection? I am new to this and I don't really understand what "backtesting" involves! Please help! TIA! +Wondering what skills or qualities people attribute their financial success towards. What do you think differentiates you from the average person? Was it your upbringing? Was it your dedication and hard work? Was it your commitment to learning? + +Edit: People asking me to define high income earner. I would classify $150k+ as high income earner. It’s a bit lower than the 95th percentile, which is doing incredibly well. + +I am still super interested in hearing from people who are complete outliers as well ($250k+), which Ausfinance seems to have plenty of. Even people in lucrative careers can cap out before $250k, so would be fascinating to hear about what differentiates these outliers +This is the official $GME Megathread for r/Superstonk. 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She found a virtual assistant position and applied. + +The company offered her a position without interviewing her. It's for 6-7 hours a week making hotel and travel reservations. She will be paid $400 a week, and $30 extra per hour over 7 hours as needed. + +She asked some questions and got an odd response that felt canned. Basically she said she would receive a check for $2950 that would cover the first week's pay, the cost of a printer and paper, as well as booking software. + +This all feels like a scam, but I don't know how. Has anyone run into this? What should I be asking/looking for? + +Edit: Thanks for all of the responses everyone. I should have phrased this a bit differently. I knew this was a scam, I just didn't know how. I appreciate all of the advice for legitimate work from home options. +After you are done reading this post, I would love to know if you agree with me on these categories? + +And if you do, I would love it if you shared some of your tactics or daily routines in these three areas with the community. + +And if you don’t, what would you add to it or take away? And feel free to share a tactic or two. + +\------- + +I have spent some time reflecting on my own journey towards FatFIRE (or what others would just call worldly success) and I’ve distilled it down to three areas that I think have aided me the most. + +I think any experience, person, or thing that has helped me get to this point in my journey can be lumped into one of these three categories: + +1. Personal Finance + +2. Building Authentic Relationships + +3. Personal/Professional Development + +I concentrate my routines and daily habits heavily on deepening my knowledge and expertise in the three tenets. Taking advantage of opportunities where two or even three of them can overlap. Here are some of my thoughts and tactics about each one: + +**Personal Finance** – This is the one that most of us tend to focus on the most. It’s easy to systematize, and there are actionable tactics. That is why so many Reddit channels, podcasts, blogs, YouTube Channels, etc tend to focus on it. If you learn about personal finance and are able to consistently implement the tactics, you are going to see a positive change in your net worth keeping all other things constant. The return on investment (ROI) in this area is easily quantifiable. + +But the ROI for the other two areas are far less quantifiable, but I would argue that does NOT make them less important…. + +**Building Authentic Relationships** – There is an incredible power when two people meet without any preconceived notions and are willing to share information with one another with no regard to receiving something in return. I’ve had hundreds if not thousands of these types of conversations, and the number of times where a business opportunity, promotion, new job, or even just solid new actionable idea was given to me is just too bountiful to ignore. And I hope that I have been able to give a lot of those same opportunities and ideas to others as well. + +A shared personal tactic: I personally schedule 1 to 4 meetings each week, typically on Fridays from Lunch until about 4pm where I just meet with people. Sometimes I am mentoring, other times I am being mentored, but some of the best ones are with just other “over-achievers” where we get to know one another even better. I generally meet at the same restaurant. I've done this for 5 years consistently. + +**Personal/Professional Development** – Many people take their foot off the gas when it comes to continually learning and developing new talents or expanding existing ones after formalized school has ended for them. You enter a career and people often “settle” in. I have pushed myself to be a life-long learner. For some that might be reading, degrees, certifications, or content (Reddit, YouTube, etc.). + +A shared personal tactic: I listen to nearly 25 books a year on Audible almost holistically consisting of non-fiction/autobiographies, growth mindset material, and business books. I struggle reading for long periods of time, but while doing office tasks or riding in my car I can digest a whole lot of positive content through my ears. +Edit: You're god damn right autists we won't let the stock market get Ajit Pai'ed! + +'The SEC has awarded more than $738 million to 134 individuals since issuing its first award in 2012.  All payments are made out of an investor protection fund established by Congress that is financed entirely through monetary sanctions paid to the SEC by securities law violators.  No money has been taken or withheld from harmed investors to pay whistleblower awards. Whistleblowers may be eligible for an award when they voluntarily provide the SEC with original, timely, and credible information that leads to a successful enforcement action. Whistleblower awards can range from 10 to 30 percent of the money collected when the monetary sanctions exceed $1 million.' + +See [sec.gov/whistleblower](https://sec.gov/whistleblower) for more information +Every Friday evening seems to be a mini stimulus from our FM - Nirmala Sitharaman, a bandage here, a tax cut there. No comprehensive policy change or approach. If you thought Jaitley was bad, she is even worse. + +[https://economictimes.indiatimes.com/news/economy/policy/nirmala-sitharaman-real-estate-home-buyers-divestment-exports-economic-booster-key-highlights/articleshow/71124238.cms](https://economictimes.indiatimes.com/news/economy/policy/nirmala-sitharaman-real-estate-home-buyers-divestment-exports-economic-booster-key-highlights/articleshow/71124238.cms) +As a shameless cloner, I've been interested in creating an investment checklist, because Mohnish Pabrai and Guy Spier similarly use checklists for their own investments. I believe that an investment checklist would be an advantage, assisting in reducing bias in analyzing investments and treating future potential investments with the same rigor and objectivity. + +Of course, no company will sift through all the filters in this (or another) checklist, but it nevertheless provides an overview of the shortages and weaknesses of a firm. Furthermore, I see my checklist as a "living document", as I will continue to revise, remove, and add items on it. I would therefore appreciate any feedback on the items of the list. + +I hope you can use this post as an inspiration to your own investment checklist. + +# Checklist + +**General** + +* Could I easily understand this business/industry? +* What respected, professional investors are currently invested in this company? +* What type of investment is this? + +**Industry** + +* Does the business operate in a no-growth industry? +* Does the business operate in a boring industry? +* Does the industry have large barriers to entry? +* Who are the company’s top competitors and how do they stand in the industry? +* Does the company operate in a niche? +* Does the company have reasonable, simple strategies for growth in the future? +* Why do businesses fail in this industry? +* What key risks do businesses in this industry take? +* Is this industry currently distressed? +* Which KPIs do the industry follow? + +**Business** + +* Is the business simple and predictable? +* Is the business model sustainable? +* Does the company provide a win-win for its entire value chain? +* What are the critical parts of the operation of this business? +* Are temporary tailwinds driving this company’s success? +* Is the company currently distressed? +* Is the debt situation under control? +* Can the company easily cover its interest payments? +* Are the company’s ROE and ROIC high and not shrinking? +* Does the business produce actual cash and not just accounting profits? +* Has the business proven that it can raise prices as its costs rise? +* Can the CEO put his feet on the desk and do nothing while the business continues to do well? +* Does the company have customers that represent a large portion of its revenues? +* How large could the business/industry potentially be? +* If the stock market is closed for ten years, would I be comfortable holding this company? + +**Competitive advantage** + +* Does the company have a competitive advantage? +* Is the competitive advantage durable and not shrinking? +* Is the competitive advantage intrinsic and difficult to copy? +* Do the customers love/need the company? +* Do the suppliers love/need the company? +* Which difficulties will the customers have if the business disappears? +* Do the products/services that have a competitive advantage comprise a large portion of the company’s operations? +* Is it hard or expensive for someone to start to compete with the company? +* Will the company have to start to compete with China or another lower-cost country? +* Will the company have to start to compete with Amazon? +* How well did the company perform in the last recession? +* Can competitors dictate the price of this company’s products or services? +* Does the business heavily rely on extrinsic risk (e.g., the price of a commodity or the credit markets) that is out of its control? + +**Management** + +* Does the business return capital to its shareholders? +* Is the CEO experienced in this business and does he have a great operational track record? +* Does this company make up a significant portion of the CEOs net worth? +* Is the management’s compensation reasonable and based on the long-term success of the business? +* Does the company have a vision that guides the company forward and changes the world for the better? +* Does the management seem driven to achieve the vision of the company? +* Does the CEO seem trustworthy, and does he explain the difficulties that the company is facing? +* Do I trust this CEO to behave with integrity? +* Have insiders been buying or selling at similar prices? + +**Price** + +* Are temporarily high numbers causing this investment to be attractive? +* Why will this company be worth more in the future than what Mr. Market is offering it for today? Will the PE-ratio extend or will earnings rise? +* Why is Mr. Market offering me this great deal? +* Does the price make sense and provide a margin of safety? +* Would a child understand this investment decision? +* Would I be comfortable if all of my family’s net worth was in this one business? + +**Miscellaneous** + +* How is the union situation? +* How is the pension situation? +I only recently came across (SUN) Sunoco. The company has a very high dividend yield of 8.29% and a payout ratio of 64%. Wondering what you guys think of the company and if the growth and yield is sustainable long term? +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.” +Of course, I am thinking about fees, credentials etc, but I am also wondering what all things should be checked before giving out personal finance information and so on +🚨🚨🚨Alert add - https://www.bloomberg.com/news/videos/2021-01-23/summers-says-markets-will-survive-reddit-traders-video - Crony Capitalism at its finest. They don’t want the competition on market forces or adapt to new technology for better researching and information sharing so now, they will lobby Congress to change the laws and they will do it quickly because they have the money to do it. + +Add 1 - please upvote and pin, make sure every retard reads this!!! It’s like a poker game, never show your cards, have poker face, and don’t ever count your money at the table. (Kenny Rogers i fucked up the quote but I’m retarded so whatever) + +Add 2- No to going “underground” either. We are an OPEN forum. People can come and go as they please just like a SIDEWALK OR STREET CORNER. Underground suggests organization lol. + +Fellow retards, many of you may not realize it but, the corporate world is fucking brutal and basically animalistic warfare. Don’t believe me? Read “Barbarians at the Gate” or watch the movie if you’re too retarded and you can’t read [TV Movie Here](https://youtu.be/iPhF_YwWvoM). +We made Citron and Melvin Bleed this week ([Melvin](https://www.reddit.com/r/wallstreetbets/comments/l2wz14/melvin_hit_hard_by_the_wsb_retards_doesnt_stop/?utm_source=share&amp;utm_medium=ios_app&amp;utm_name=iossmf) had to get $1billion money loan Citron did it in 2018 on Tesla Loss) and they don’t like that. If you saw the letter they tweeted out you’d see why we gotta watch out [Citron getting defensive laying the groundwork for a counter.](https://twitter.com/citronresearch2/status/1352627162508005376?s=21). They are already setting up the groundwork to get law enforcement and SEC involved. They’ve alleged that some idiots allegedly sent death threats, harassed and spammed there office email and phones, etc. As of now, there is no proof that it happened but even so this is a forum and it’s not responsible for individual being assholes. Boomer old money will get dirty and ethically dubious to maintain power rather than innovate and compete. I promise you, They are already meeting with one another to figure a way to turn this forum off. Corporate espionage, hostile takeovers, and crowd-outs...all’s fair in love and war I guess. + +We’re a forum, not an organization or a firm, and we need to make that painfully clear to every fucker who says otherwise (boomers looking in and newbies here). Optics and a paper trail to boot will ensure WSB stays a forum for all to come and yell out their yolos, give DD, view loss porn, and brag about gains! This isn’t a firm, we’re basically a bunch of retards yelling on the street corner or at the NY Stock Exchange floor yelling to buy waffles ([family guy scene - buy waffles aka this is us](https://youtu.be/fm2mlT7q7mY) ) that’s not illegal, that’s actually how stocks have been in the past, where where one retard says “I hear business x has new shit, buy x!” Then everyone joins in the feeding frenzy to buy (or sell) x. We’re just a digital version. None of this twitter account bs that we thankfully shit them up ( we really need them to shut it down completely). Members here, do not go and poke the beehive. **If a new member does this shit they may be an infiltrator from the firm trying to sabotage us from within so be on the lookout for other people’s behavior.** Let’s play this smart, keep comments and shut here and let’s all go to infinite and beyond! 🚀🚀🚀🚀🚀🚀🚀 +I am very new to crypto but I understand the basics of ethereum, and how the recent metaverse craze and nft’s will add a lot of value to ether. Do you guys think its a good idea to invest that much, should i be investing more or less, and are there any other things that I should factor in as well? +https://www.washingtonpost.com/news/the-switch/wp/2018/03/18/facebook-may-have-violated-ftc-privacy-deal-say-former-federal-officials-triggering-risk-of-massive-fines/?utm_term=.4f207c85d2f5 + +>Vladeck, now a professor at Georgetown Law, said violations of the consent decree could carry a penalty of $40,000 per violation, meaning that if news reports that the data of 50 million people were shared proves true, the company’s possible exposure runs into the trillions of dollars. + +Obviously, a fine of over a trillion dollars is extremely unlikely, but the fact that that is even a possibility or a though on the table is nuts. Regardless, this should hit Facebook quite hard, not only from a fine perspective, but also from the perspective of trust from advertisers and users as well. +GET YOUR CHICKEN TENDIES!! + + +Launched successfully on May 20th, 2021 12:00 EST. 3 Million MC reached within 20 minutes and currently OVER 10 Million MC in under 24 hours. Strong and very involved community that are in it for the long run. + +TendieSwap, and it’s utility token Chicken $TENDIE Is the first crewed mission to revolutionize the betting industry 🚀 + + +$TENDIE TOKEN ADDRESS : 0x9853A30C69474BeD37595F9B149ad634b5c323d9 + +🔥Our Initial Dex Offering for $TENDIE took place on PANCAKESWAP. +🔥The protocol provided $150k in liquidity that was locked with DxSale +🔥This was a pseudo fair launch and the developers got zero allocations of coin. All the wallets are transparent. They make money if the protocol is successful only so they make money if everyone makes money. +$375K was raised for Pre-Sale at $0.15. 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Invest with care and always do your own research. +I was wondering what is considered a fair way of splitting bills if one half of a couple owns a property and the other is renting from them? + +My situation is that I have been with my girlfriend for 2 years, the last year of which I have been living with her in a 2 bedroom flat she owns in south London near Sutton. She bought the flat through the help to buy scheme so has only been paying off the percentage of the mortgage she owns. + +To date we have split all monthly expenses 50/50 and this comes to £750 each per month. That includes the mortgage repayments (including £200 of over payments per month), council tax (£1850 per year) her life insurance and contents insurance, ground rent and property management fees (about £2000 per year), her car tax and insurance (I don't have a car but share use of hers), TV license and all utility bills. + +My girlfriend has talked to the mortgage company recently about buying out the government's part of the mortgage, so she would own 100% of the property. As a result of this the mortgage payments will go up significantly so total bills each month will be £2100, or £1050 each if split 50/50. + +I'm not sure if this is totally fair on me - on the one hand I have been on board with paying 50/50 for everything until now, but this is a very big increase in bills. She gets the benefit of owning the whole property and I get to pay about 50% higher bills each month, but own nothing. I checked the cost of renting a room in similar properties nearby and most are about what I pay now - £750 including bills. + +So I think I would be paying about £300 over market rate in rent & bills each month. She says that if it isn't split 50/50 then it's not fair she has to pay more but I'm not sure I entirely agree, as she is actually getting more ownership of the property. + +We have talked about getting married in the future and if that happens then I would probably get added to the mortgage and pay her 50% of what she owns at the time, so then we'd own the property 50/50. + +Has anyone experienced similar situations, what did you do and what do you think is fair? + + +🔥 Ultimo GG's vision is to become the bridge between sports entities and the crypto world on + +Binance Smart Chain so investors can enjoy the full benefits offered by blockchain technology 🔥 + +**Why will this project become successful in the crypto world?** + +1. 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So far I have been lurking in this sub, learning from the financially affluent posters. Net Worth is $100,000 and Annual Income is in the lower 6 figures; so I have a long way to go to hit FatFire. + +Most FatFire people on this sub are below 40 years old; and have accumulated a net worth of at least $5 million USD (equivalent to $200,000 per year in annual investment income at a 4% SWR). Even though the **overall top 1% threshold** seems to be **$11 million dollars**; **for people under the age of 40, the top 1% threshold seems to be around** **$4 million dollars**. It also shows the power of compound interest, as the top 1% threshold seems to roughly double every 7-10 years to hit **$17 million by 55-59** (possible with 7% annual stock market return). + +**So if you are below 40 (like most people on this sub) and you have a net worth of at least $4 million, you are the top 1%!** + +**Age. Top 1% Net Worth** (Data comes from 2019 Federal Reserve's Survey of Consumer Finances) + +18-24 $435,076.59 + +25-29 $606,188.36 + +30-34 $956,944.74 + +**35-39 $4,034,486.45** + +40-44 $7,909,636.79 + +45-49 $10,494,100.10 + +50-54 $13,524,093.87 + +55-59 $17,545,848.60 + +60-64 $14,629,637.13 + +65-69 $16,439,046.11 + +70-74 $12,625,305.04 + +75-79 $12,770,142.25 + +80+ $9,932,353.20 + +[https://dqydj.com/net-worth-by-age-calculator-united-states/](https://dqydj.com/net-worth-by-age-calculator-united-states/) +Hi Apes, I’m a long time holder and XX DRS ape. Like many of you, I frequent this board and love seeing the conversations, discussions, DD and the occasional light tinfoil hype that apes participate in. + +However, as the few weeks have progressed, I’ve noticed a slight change in “Rising” topics and theories submitted by relatively low-karma accounts. Since the BCG battle, I’ve noticed that there has been a significant increase of misinformation and conspiracy related to the **World Economic Forum**, and the conspiracy of **“The Great Reset”**. + +As you can image, these posts discuss many “tinfoil theories” and incorporate information and followings closely related to Q-people, deep state, and other far-reaching conspiracy theories. + +**In essence, this will ultimately discredit all of the fantastic DD that apes have gathered over the past few months. The sound evidence regarding MOASS and DRS will be transformed into conspiracy linked to JFK Zombies and other outlandish theories.** + +**If posts like these continue on SuperStonk and other GME subs, Apes will eventually be related with Q-People theories, the Trucker Convoy, and other divisive movements and topics.** + +# OK, so how is this FUD/Tinfoil? + +I’m sure many of you have seen this post recently on the sub. + +https://preview.redd.it/s1j8mrgh5yp81.jpg?width=1492&format=pjpg&auto=webp&s=ddcf687e13d6260143fa0e08355c66c2eb2f74d2 + +When these posts are posted across GME subs, they are instantly spammed with low-karma accounts and people who actively ‘farmed’ karma so that they could post within the sub. + +The post was posted less than a day ago, and quickly gathered a mass amount of upvotes and comments from apes. + +There’s been many more WEF and tinfoil posts over the past week, but we’ll be mostly focusing on the most popular one. + +I’m going to break this post apart for you, and help you understand the following: + +1. Why this is FUD/Fake News/Tinfoil +2. Why we’re going to be seeing more of this content as we get closer to MOASS. + +&#x200B; + +# 1. Let’s dive into the author. + +The author of the post is u/melo_00_7. The account is JUST over a year old, with a total of \~6.4k Post Karma (includes the post of 4.4k karma), and about 8.4k comment karma. While this karma isn’t very suspicious by itself, it does show how new of an account this is. + +But what’s most interesting to me is, the posts on the user’s account. It seems pretty shilly IMO, and was pretty inactive until recently. + +First, the author of the post seems to be spamming his “DD” into multiple subs, SuperStonk and GME specifically. They label their first post on SuperStonk as “Speculation/Opinion”, which is appropriate IMO. However, OP decided to repost his tinfoil across other GME subs, this time using the “DD” flair. + +&#x200B; + +[A Literal Copy\/Paste Job of their original post.](https://preview.redd.it/ewc1f4fj5yp81.jpg?width=1975&format=pjpg&auto=webp&s=b190e5d932f13c211f364f9a2ac098aca2dee2dd) + +# But the thing that makes me wary of this account is mostly their inactivity since their most recent posts, along with the low effort content they previously posted. + +&#x200B; + +[6-7 Month Old Activity before their Shill Post.](https://preview.redd.it/4jpczkmu5yp81.jpg?width=1944&format=pjpg&auto=webp&s=6730d642c407190ce77bc44fa75eeb869e7490bc) + +Now, there’s nothing wrong with shit posting, but I have to ask. Why has this user stayed mostly silent for the better part of 6/7 months and posts such a polarizing post out of nowhere? To me, this seems extremely shilly or an account that was compromised. + +Moreover, while many apes are still deciding whether they want to DRS their shares, this user has no engagement or posts dedicated towards the DRS movement or DD. + +# 2. Let’s take a look at the actual post. + +First, the OP directly appeals on the emotions of apes by connecting the WEF with the current conversation with BCG (actual hijacking the hard DD that apes have performed recently regarding BCG.) + +Next, OP links to a 15 min verbal-diarrhea YouTube video created by a known Tinfoil conspiracy theorist. Take a look and read about him yourself. This article sourced by an actual academic site. + +[https:\/\/www.mcgill.ca\/oss\/article\/covid-19-critical-thinking-pseudoscience\/clown-prince-wellness ](https://preview.redd.it/35ztre7r7yp81.jpg?width=2059&format=pjpg&auto=webp&s=75721c30373a8de6247504e8272540e518836341) + +A quick Google Search of “AwakenwithJP” will help provide you with all the information you need to form your own decision and opinion. + +Now, after posting a link to the 1p in tinfoil video, OP posts a link to a website called: Reclaim The Net. + +&#x200B; + +https://preview.redd.it/v5md571p9yp81.jpg?width=2732&format=pjpg&auto=webp&s=33cffe8303db91c4ada8b902399ecc4eed945a53 + +What is [Reclaimthenet.org](https://Reclaimthenet.org)? Well, after a quick glance at their website, it seems that they are a website dedicated to ”defending free speech, and individual liberty online”. This website posts a lot of articles that relate to the Trucker Convoy, WEF, and other highly polarizing content. + +When trying to read their articles, you’re met with a full-page email request form, which is repeated constantly across their site. They’re REALLY wanting your information. + +After reading a few of their articles, they seem to be lacking extreme substance. I even tried to Google/LinkedIn Search their authors/contributors, but have yet to find a proven connection. + +[To me, these accounts seem to be faked.](https://preview.redd.it/hov3bjsu9yp81.jpg?width=1573&format=pjpg&auto=webp&s=945cf9839d75ad55425611363bef49cb5e6fcaa3) + +&#x200B; + +Next, OP decides to screenshot pieces of an article titled: “[World Economic Forum pushes digital ID system that will determine access to services](https://reclaimthenet.org/world-economic-forum-pushes-digital-id/)” + +Again, this article is from [ReclaimTheNet.org](https://ReclaimTheNet.org). and contains very little substance. The author of this post relied on readers to click their hyperlinks that are directed to WEF resources (building a false sense of credibility) and hopes that users don’t read the actual resource to form their own opinions. + +Moreover, when I try and Google Search “Tom Parker Reclaim The Net”, I’m left with large information gaps, zero biographies outside of his recent articles on [ReclaimTheNet.org](https://ReclaimTheNet.org). OR even previous work before he joined Reclaim The Net. + +&#x200B; + +[Who are you? Who, Who, Who Who?](https://preview.redd.it/a56mu1qgbyp81.jpg?width=1622&format=pjpg&auto=webp&s=46da01ce94b81014bbe4c7eb2e691e83cd5386b6) + +&#x200B; + +# So what does this all mean? + +My friends, this is an example of an active effort to divert apes and community members of SuperStonk into far conspiracy theories that aren’t based on fact or actualities. + +Apes are being driven to these conspiracy pages/theories to become eventually related to other far-extremist movements and theories. Soon, if left unchecked, Apes will be related to Q-people, JFK zombies, and other crazy theories. + +Look, there is NO DOUBT that there are nefarious actors and powerful people inside of the WEF, BCG, and other influential organizations. I think everyone can agree with that. + +HOWEVER, what’s most dangerous is that this type of content is the NEW FUD. It’s being slowly fed to apes to start building a new narrative and migrating apes off of their GME opinions and into a deep rabbit hole. + +I hope this post helps Apes realize that there are active FUD campaigns being carefully crafted by misinformation groups to paint apes as conspiracy theorists and ’crazy people’. I’m not sure who is funding this type of FUD, but I’m sure you can take an educated guess. Possibly the same people funding misinformation across North America perhaps. + +&#x200B; + +TLDR; Apes are being targeted by misinformation campaigns by shill accounts in an effort to discredit DD, GME and educated retail investors. Eventually, if nothing is done, Apes will be related to JFK Zombies, Q-People, and Culture War distractions. + +&#x200B; + +EDIT: Since writing this post, u/melo_00_7 has posted a Part Two, that was thankfully removed by MODS. Unfortunately, they are still spreading harmful tinfoil on other GME subs. +Tried posting this in /personalfinance but the mention of investing apparently got the whole thing deleted, so I'm trying here since I saw others posting about investing, and this isn't all about only investing: + +&#x200B; + +Hi all, my first post here. Hope I give enough relevant info to illustrate my situation, I could really use advice, as I'm extremely naive when it comes to "grown up stuff" like finances and I have never had parents to learn from. I'm somewhat of a child in that I'm always relying on advice from everyone else who seems smarter and more experienced than me. Here goes: + +\- I'm about to be 40, no college, never wanted to take on student debt since I don't know what I want to "do" anyway. I don't believe I have any marketable skills as my interests are so chaotic and I can't stick to any one thing for very long. Maybe the only marketable skill I have is being able to put up with "super boring" menial jobs bc I'm never bored, my brain has so much noise in it that I don't have enough time in the day to finish thinking all my thoughts. Have overcome an upbringing and adulthood of abuse, assault, homelessness, addiction, and breakdowns to get to this comparatively stable place in life, and I'm proud of how tough I've had to be to get here almost entirely on my own, but I'm not thriving or flourishing, I feel. I've just been in a holding pattern for like 4 or 5 years now, treading water. + +\- Have always been basically entry level retail since I was 14, finally got out of it a few years ago for an office/data entry job in the manufacturing industry, making 17/hr, which is the most I've ever been paid by a job, so like 35K/yr. Still basically living check to check somehow, though a little better off than I was, say, 5 and 10 years ago (like, I'm not needing to visit food pantries anymore). This company does not give raises, so I've been at my rate the 2.5 yrs I've been here. One of my coworkers said it's not unusual for the people to not have gotten a raise even after 5-10 years, the company just isn't that great like that, but... the job overall is better than retail. + +\- My savings account, which only started existing about 3 months ago, has been fluctuating in the range of 0-700. I put a little bit in, then something happens and I have to take it out. Rinse and repeat. + +\- I live in an apt with 3 other people. My average monthly bills: rent 600, car 110, car ins 125, 2 credit cards \~200, utilities \~100-300 (depending on season), cell 45, health ins 170, and gas for my car runs me \~200 a month. Then there's meds (I need a lot), food, and whatever is left just gets blown at like Target and Walmart (bc your girl has a serious shopping addiction, I'm truly trying to kick it though). Leaving 0 for savings usually. + +\- Have a car loan I still have 2 years/$2500 on (05 Honda Pilot), but also 2 maxed out credit cards (6K and 2.5K) I had to use when the transmission blew 6 weeks after buying the car, and I haven't managed to pay them down really at all in these 2.5 yrs. I make the min payments, then would just spend the money again on groceries and bullshit like household goods or backpacks. These past 2 months I managed not to use them at all, so my current availability on them (not sure the right term) is about 100 on each card. I do genuinely want to pay them off, cause carrying these balances stresses me out, and I worry about another emergency coming up in which I would need the cards again. Have thought about trying to open up a 3rd card to even out my ratio and also have that backup, but haven't gone as far as trying cause I'm just not sure it would help? + +\- Have about 14K in my 401K left from my last long-term retail job, it is with Wells Fargo and I never made any changes to whatever the defaults were when the account was created. When I left the job (Nov 2017), it was around 8K, so for it to be at 14K now seems pretty good? Not currently signed up for 401K with current company, they don't do match and for some reason I've just felt like this rinky dink company isn't going to have as good a financial company for it as my old job did? Not sure that's even a logical feeling, but this company I work for IS pretty small-time and old-fashioned (it's all boomers on the edge of retirment here) and the benefits aren't very good, but the job is still better than retail. But maybe putting 10 bucks a week into their 401K is better than nothing? + + \- I tried having a side job over the winter since I'm no longer working a hellish retail schedule (IYKYK), but with my health (some chronic conditions, and what amounts to an ED on top of it, and the joys malnutrition brings), I just couldn't swing it, even though it was mostly just 1 day a week. I quit after 3-4 months. I'm simply too tired to work 2 jobs, it is already super draining just working the 1 job. I come home and really only have the physical or mental energy for surfing online or watching tv with my partner the nights we are together. I seriously don't know where people get the strength and stamina to work 2 or more jobs, it blows my mind. + +\- Managing the chronic illnesses take up a lot of my mental focus and it's accerbated by having unmanaged ADHD, which also really impacts my job performance. I have just been trying to force myself to deal with the ADHD on my own my whole life but I've reached a point where maybe risking medication might be worth it to gain some focus on my whole life, and not get in trouble at work. Maybe even discover a skill that could get me a better-paying job?? + +\- My boyfriend (30M) has gotten super into investing (I barely understand how the shit works but it seems cool), and under his advice I bought 2 GME stocks, and thinking I should maybe buy more for my future (at least a few more this year) and also get into dividends, cause it does seem like a good idea, but feeling possibly like I simply can't afford that right now? He believes that throwing all our money into stocks will yield us tons of money soon (or eventually) and we'll each be well-off, but I am worried about my credit cards/debt, current and future medical needs (including tons of dental work I have been chipping away at for a few years but still need at least 8k in work done), my car possibly having another major breakdown, and future rent increases. Basically, I'm worried. + +&#x200B; + +So, all this is going on, and I don't know what my options are for becoming more financially stable, like I don't know where I should direct what little money I have leftover after bills: strictly savings, credit cards, investing, or something else? Or a mix of everything? Since I can't handle taking on a second job, I recognize that I MUST do something about my financial habits and maximize the shit out of my income to the fullest, since I can't imagine it ever really improving. I'm finally interested in envisioning my future though, \*especially\* a future with the partner I'm with now, and even the tiny/miniscule bit of headway I've made on my debt feels \*amazing\* and I know I want to keep making progress, I just can't figure out what would be the best course of action. I hope this post was informative enough to enable some of you to give me advice. I am a 40-yr old girl-child who needs like a team of parental figures to help make decisions. I am at your mercy. Please halp. +Pre:TLDR - it’s super long, if you aren’t full retard and want to understand this, read it. If you don’t have the brainpower, there a TLDR. + +I'm a Loan Officer for one of the larger retail lenders. Here’s an overview of how the Fed gone and fucked over mortgage lenders. + +Credit for the content below should go to Barry Habib of MBS Highway. + +THE CORONAVIRUS MELTDOWN +The current coronavirus crisis is having a critical impact on the mortgage industry, which could potentially make the 2008 financial crisis pale in comparison. The pressing issue centers around capital that's required by Mortgage Lenders to be able to function and meet covenants that are required for them to continue to lend. + +HERES HOW THE MORTGAGE MARKET WORKS +Let's begin with the mortgage process. A borrower goes to a Mortgage Originator to obtain a mortgage. Once closed, the loan is handled by a Servicer, which may or may not be the same company that originated the loan. The borrower submits payments to the Servicer, however, the Servicer does not own the loan, they are simply maintaining the loan. This means collecting payments and forwarding them to the investor (Fannie/Freddie/Ginnie), paying taxes and insurance, and answering questions, etc. While they maintain or "service" the loan, the asset itself is sold to an aggregator or directly to a government agency like Fannie Mae, Freddie Mac, or Ginnie Mae. The loan then gets placed in a large bundle, which is put in the hands of an Investment Banker. The Investment Banker converts those loans into a Mortgage Backed Security (MBS) that can be sold to the public. This shows up in different investments like Mutual Funds, Insurance Plans, and Retirement Accounts. + +The Servicer's role is very critical. In order to obtain the right to service loans, the Servicer will typically pay 1% of the loan amount up front. The Servicer then receives a monthly payment or "strip" equal to about 30 basis points (bps) per year. Because they paid about 1% to obtain the servicing rights and receive roughly 30 bps annual income, the breakeven period is approximately 3 years. The longer that loan remains on the books, the more money the Servicer makes. In many cases, the Servicer may want to use leverage to increase their level of income. Therefore, they may often finance half the cost of acquiring the loan and pay the rest in cash. + +SERVICER DILEMMA +As you can imagine, when interest rates drop dramatically, there is an increased incentive for many people to refinance their loans more rapidly. This causes the loans that a Servicer had on their books to pay off sooner…often before that 3-year breakeven period. This servicing runoff creates losses for that Mortgage Lender who is servicing the loan. The more loans in a Mortgage Lender’s portfolio, the greater the loss. Servicing runoff, or even the anticipation of it, can adversely impact the market valuation of a servicing portfolio. But at the same time, Lenders typically experience an increase in new loan activity because of the decline in interest rates. This gives them additional income to help overcome the losses in their servicing portfolio. + +But the Coronavirus has caused a virtual shutdown of the US economy, which has created an unprecedented amount of job losses. This adds a new risk to the servicer because borrowers may have difficulty paying their mortgage in a timely manner. And although the Servicer does not own the asset, they have the responsibility to make the payment to the investor, even if they have not yet received it from the borrower. Under normal circumstances, the Servicer has plenty of cushion to account for this. But an extreme level of delinquency puts the Servicer in an unmanageable position. + +I'M FROM THE GOVERNMENT AND I'M HERE TO HELP +In the Government’s effort to help those who have lost their jobs because of the Coronavirus shutdown, they have granted forbearance of mortgage payments for affected individuals. This presents an enormous obstacle for Servicers who are obligated to forward the mortgage payment to the investor, even though they have not yet received it. Fortunately, there is a new facility set up to help Mortgage Servicers bridge the gap to the investor. However, it is unclear as to how long it will take for Servicers to access this facility. + +But what has not been yet contemplated is the fact that a borrower who does not make their first mortgage payment causes the loan to be ineligible to be sold to an investor. This means that the Servicer must hold onto the asset itself, which ties up their available credit. And with so many new loans being originated of late, the amount of transactions that will not qualify for sale is significant. This restricts the Lender’s ability to clear their pipeline and get reimbursed with cash so they can now fund new transactions. + +MARK TO MARKET +This week - Due to accelerated prepayments and the uncertainty of repayment, the value of servicing was slashed in half from 1% to 0.5%. This drastic decrease in value prompted margin calls for the many Servicers who financed their acquisition of servicing. Additionally, the decreased value of a Lender’s servicing portfolio reduces the Lender’s overall net worth. Since the amount a lender can lend is based on a multiple of their net worth, the decrease in value of their servicing portfolio asset, along with the cash paid for margin calls, reduces their capacity to lend. + +UNINTENDED CONSEQUENCES +The Fed’s desire to bring mortgage rates down isn’t just damaging servicing portfolios because of prepayments, it’s also wreaking chaos in Lenders’ ability to hedge their risk. Let’s look at what happens when a borrower locks in their mortgage rate with a Mortgage Lender. Mortgage rates are based on the trading of Mortgage Backed Securities (MBS). As Mortgage Backed Securities rise in price, interest rates improve and move lower. A locked rate on a loan is nothing more than a lender promising to hold an interest rate for a period of time, or until the transaction closes. The Lender is at risk for any MBS price changes in the marketplace between the time they agreed to grant the lock and the time that the loan closes. + +If rates were to rise because MBS prices declined, the Lender would be obligated to buy down the borrower’s mortgage rate to the level they were promised. And since the Lender doesn’t want to be in a position of gambling, they hedge their locked loans by shorting Mortgage Backed Securities. Therefore, should MBS drop in price, causing rates to rise, the Lender’s cost to buy down the borrower’s rate is offset by the Lender’s gains of their short positions in MBS. + +Now think about what happens when MBS prices rise or improve, causing mortgage rates to decline. On paper the Lender should be able to close the mortgage loan at a better price than promised to the borrower, giving the Lender additional profits. However, the Lender’s losses on their short position negate any additional profits from the improvement in MBS pricing. This hedging system works well to deliver the borrower what was promised, while removing market risk from the Lender. + +But in an effort to reduce mortgage rates, the Fed has been purchasing an incredible amount of Mortgage Backed Securities, causing their price to rise dramatically and swiftly. This, in turn, causes the Lenders’ hedged short positions of MBS to show huge losses. These losses appear to be offset on paper by the potential market gains on the loans that the lender hopes to close in the future. But the Broker Dealer will not wait on the possibility of future loans closing and demands an immediate margin call. The recent amount that these Lenders are paying in margin calls are staggering. They run in the tens of millions of Dollars. All this on top of the aforementioned stresses that Lenders are having to endure. So, while the Fed believes they are stimulating lending, their actions are resulting in the exact opposite. The market for Government Loans, Jumbo Loans, and loans that don’t fit ideal parameters, have all but dried up. And many Lenders have no choice but to slow their intake of transactions by throttling mortgage rates higher and by reducing the term that they are willing to guarantee a rate lock. + +Furthering the Fed’s unintended consequences was the announcement to cut interest rates on the Fed Funds Rate by 1% to virtually zero. Because the Fed’s communication failed to educate the general public that the Fed Funds Rate is very different than mortgage rates, it prompted borrowers in process to break their locks and try to jump ship to a lower rate. This dramatically increased hedging losses from loans that didn’t end up closing. + +EVEN STEPHEN KING COULD NOT HAVE SCRIPTED THIS +It’s been said that the Stock market will do the most damage, to the most people, at the worst time. And the current mortgage market is experiencing the most perfect storm. Just when volume levels were at the highest in history, servicing runoff at its peak, and pipelines hedged more than ever, the Coronavirus arrived. +Lenders need to clear their pipelines, but social distancing is making it more difficult for transactions to be processed. And those loans that are about to close require that employment be verified. As you can imagine, with millions of individuals losing their jobs, those mortgages are unable to fund, leaving lenders with more hedging losses and no income to offset it. + +WHAT NEEDS TO BE DONE NOW +Fortunately, there are many smart people in the Mortgage Industry who are doing everything they can to navigate through these perilous times. But the Fed and our Government needs to stop making it more difficult. The Fed must temporarily slow MBS purchases to allow pipelines to clear. Lawmakers need to allow for first payment defaults, due to forbearance, to be saleable. And finally, the Fed must more clearly communicate that Mortgage Rates and the Fed Funds Rate are not the same. We have faith that the effects of the Coronavirus will subside and that things will become more normalized in the upcoming months. + + +So, that’s what’s going on - I’d love some input on the best way to use this info for trades. Personally I think that mid-sized loan servicers with minimal diversity are most at risk. Quicken isn't publicly traded, Wells Fargo is too big for their mortgage servicing alone to cripple them. + +Edit: adding this - There are three main issues: +1.) margin call +2.) inability to sell recently originated loans with a forbearance in place prior to the first payment +3.) a servicer still needs to pay Fannie/Freddie/Ginnie even if someone with an existing loan is in forbearance + +These can combine to be a huge cash burn. The fix for #1 is just that the Fed stops buying MBS but the second two require legislation. + +So, what servicers are at risk? + +EDIT MADE: I’m an idiot and the original post contained some figures for commercial MBS servicing by banks. + +Originally I proposed a ticker weighted in CMBS and someone pointed out I’m an idiot. A couple people have commented COOP - Mr. Cooper has a $548B servicing portfolio, which is massive. They aren’t a bank and are solely a mortgage lender/servicer, so I do like that play. + +So, 10/16 COOP 5p + +TL;DR: If you want to know details of how residential mortgage loan servicers are at high risk due to CARES Act, theres about 20 mins of reading. Or, just know they are at high risk unless the government fixes some shit they broke. +Ok so, been sick in bed a couple of days and some random shit popped in my head + +&#x200B; + +https://preview.redd.it/v5ql5pb180b71.png?width=1516&format=png&auto=webp&s=ad4bc422869060a3ea7f15211a0247e36a7ec44b + +The NFT part is the same style as nintendo's logo + +The part that looks like a cartridge has the etherium stamped on it, and of course the gameboy looks like a gameboy. + +But then I started reading Jordan Holberg's post on Magic the gathering. + +(which can be found [here](https://www.linkedin.com/pulse/magic-gathering-multiverse-metaverse-jordan-holberg)) + +It goes into detail on how Hasbro and Wizards of the coast could use NFT's in multiple actual use scenarios. + +One that struck something with me however is that they could basically make sure the secondary market can get rid of the "fake" cards, as any mtg/pokemon/yugioh player can attest the market is rife with knock off products and often it's hard to tell the difference. + +But with the Nft being used as a "seal" so that you always know that your card is genuine it could knock out the knockoffs. + +You could also use it to build a deck for tournaments, and in theory if someone uses your deck to win you could receive a "kickback", as could the original creators of the art etc etc. + +&#x200B; + +But here is the thing, what about Nintendo?Pokemon is one of the biggest franchises in the world right now, it has videogames, cardgames and so much merchandise, and here is the kicker, remember Amibo's ? + +Imagine you have an actual physical model like an Amibo, you train your pokemon and you can then use that same pokemon in several different games, creating a team you can track and use in every future game. + +&#x200B; + +https://preview.redd.it/v5xmmy37a0b71.png?width=438&format=png&auto=webp&s=b1f3ea74badae530b6c67131b7b3019ef18daa10 + +But I digress, here is the thing that got me spinning in circles for most of the day, how could GME use a dividend or NFT by use of pokemon? + +Remember those promotions they used to do back in the day? + +special cards, special dlc, special stuff. + +Enter Crypto kitties, enter Nintendo, enter anything. + +I have nothing to back this up as fact, everything in here is speculation but seeing the already pre-established relationship GameStop already has with so many game companies we could see anything be given as a dividend, Be an investor at GME, get a special Halo Hyabusa skin, get a rare pokemon, rare mtg card which you can use in your actual games. + +So what do you guys think? could this be something or is this just a bad idea?Also I've flaired this as discussion, because I'd love to see some discussion surrounding this but mostly + +\- What actual use could you see happen with NFT's? + +&#x200B; + +It seems u/StrifeLover was posting a theory similar to mine for a while, be sure to check out his posts as he goes more in depth then I do, and he is actually into pokemon and stuff like that and knows more, would love to get people more involved into this! +Welcome to the **/r/EthTrader** Daily Discussion thread. The thread guidelines are as follows: +*** + +- Discussion topics include but are not limited to general discussion, details related to events of the day, technical analysis, Ethereum Classic, and minor questions. +- Important content should be posted as a separate thread. +- Be excellent to each other. + +*** + +Thank you in advance for your participation. Enjoy! + +Hello, so I don't know how many of you do this, but I would like to set up my individual brokerage as more of a typical savings account than an investment portfolio. However, I have been researching ETFs, and it really seems like, in general, it is hard to beat VTI. I have looked at both lower volatility index funds, high yield dividend and dividend growth index funds, and bond etfs. It just seems like, from year over year perspective, it's pretty hard to beat VTI. I'd like to preserve my capital obviously, but I also want it to grow some. I was looking at something like USMV, XSHD, etc but really none of them return like VTI and they still go down when the market goes down. I don't necessarily want income from this, just to generally have my cash parked and grow a bit without really swinging too much. I don't want bonds though, as they really aren't worth it right now. Do you have any recommendations for alternatives to VTI that can satisfy my overall goal for this account? I don't think there are any since I've put a good chunk of hours into reading about this, but I'm always interested in outside opinions. Thanks +Hello, so I don't know how many of you do this, but I would like to set up my individual brokerage as more of a typical savings account than an investment portfolio. However, I have been researching ETFs, and it really seems like, in general, it is hard to beat VTI. I have looked at both lower volatility index funds, high yield dividend and dividend growth index funds, and bond etfs. It just seems like, from year over year perspective, it's pretty hard to beat VTI. I'd like to preserve my capital obviously, but I also want it to grow some. I was looking at something like USMV, XSHD, etc but really none of them return like VTI and they still go down when the market goes down. I don't necessarily want income from this, just to generally have my cash parked and grow a bit without really swinging too much. I don't want bonds though, as they really aren't worth it right now. Do you have any recommendations for alternatives to VTI that can satisfy my overall goal for this account? I don't think there are any since I've put a good chunk of hours into reading about this, but I'm always interested in outside opinions. Thanks +I'm a day trader turned quant trader running a portfolio of price-based microstructure scalping strategies in the futures markets. I asked a question similar to this in the algotrading sub, but would like to get some different perspectives. Hopefully this can help other traders refine their edge as well. + +One of my bots is designed to trade GC exclusively. Over the last year (sample size of 1,818 trades), I've noticed that one hour of the day has been WAY more profitable than the rest. It appears to be the only hour that I had any significant edge to speak of. This is only the case for GC. Other markets have certain hours that will perform better, but no market has had a single hour so greatly outperforming the rest. + +What might be the reason for this? What would you do if you were faced with such data? Chalk it up to pure randomness, or start trading 9:00 - 10:00 exclusively? This is the most historical data I have access to at the moment, but maybe you would require even more data before drawing any firm conclusions? I'd love to hear your thoughts! + +[Equity Curve Trading from 8:30 to 15:00 since July 20th, 2021 | \\"Profitable\\" but choppy. Drawdowns are steeper than I'd like.](https://preview.redd.it/pyv8xyqc6yc91.png?width=1790&format=png&auto=webp&s=b183c5af799332576c4cc42fd57c0b0761ff5f81) + +[Equity curve trading ONLY 9:00 - 10:00 CST since July 20th, 2021 | Much cleaner equity curve, drawdowns are greatly reduced, win rate is notably higher.](https://preview.redd.it/jwpde5em6yc91.png?width=1802&format=png&auto=webp&s=3949542dca764d753e8d58709775b6a14acdc8fe) + +[Increase in win rate if only that hour of the day is traded.](https://preview.redd.it/f2c03wdo6yc91.png?width=370&format=png&auto=webp&s=53b0b07ba54117fb7229255ed099cc43ecb1b217) +I thought about how to structure this for a bit and whether to do separate DD on companies like LKE, LRS, POS and RAC for example, or to just point out flaws that the majority have in common which I consider red flags. I decided to go with just one post and explain why I personally don’t like the companies in general as I think the DD would start to get repetitive for quite a few reasons, the first is I don’t understand all the different mining grade/details which I have explained a few times and is why I generally stay away from mining stocks in general, as it takes me much longer to analyse the numbers than say retail. Also, the DD would have common traits which ill mention below and if I’m not going to break down each company individually then what’s the point, but lastly my analysis and DD shouldn’t affect your opinion to buy/sell a stock, because presumably you’ve done the research and understood the company. + +Ultimately a lot of these companies come down to what are the chances they achieve what they say they will achieve and is it in a realistic timeframe? Of course, there’s companies out there which will achieve their goals and make it rich then get acquired by a large miner, but there’s also plenty which don’t. So, figuring it out is where the skill comes into it, but rather than break all that down and pretend I understand each company back to front lets just do some basic issues. + +Cashflow- + Okay let’s start with the most obvious one, but what I consider one of the most important and it’s the fact in general they all bleed cash pretty fast. I’m sure there’s exceptions to every point here, but I’m talking in general and not about 1 specific company. But to prove a point and cherry pick let’s use LRS because they put out their quarterly recently, a lot of people on here were quick to notice cash is going down fast and a cap raise will likely be needed as production at one of their 1000 mining sites isn’t going to start soon. Just as an example, lets compare this to LKE and POS who have much more cash and in terms of bleeding are not doing it across 500 mines and they have a very concentrated portfolio. Even though POS just announced a cap raise its more likely to be beneficial to shareholders as the capitals not getting spread so thin. + +Pump/dump- +Okay this one is the easiest to do on reddit and happened everywhere during the retail investing boom end of last year/start of this year. We had companies like fish guts getting pump and dumped, we had trickle organising a pump and dump (for a speccy miner LUL), 88e, 9sp, MTB, VML (Yes, I know some of you hold it, but it went up 100% in a month and is since down 39%), PLL last year…okay the list goes on and on. My point is not that all speccy mining stonks are bad, but that majority of them are so small that one hint of great results and the stock becomes easy to pump on social media and people flock to it presuming someone with influence pumps it. To cherry pick an example lets look at MEG, /u/Calculated-Punt posted a DD explaining the pros and cons on the 22nd of June, within 2 days the stock was up 50% on a spike of volume along with mass comments about it in the daily for the 2 days. It has since come all the way back down to where it started, and even though he may not have intended to pump it this shows how quick people will buy something based on someone else’s DD and pump/dumps are an easy way to lose money. + +Management- This is probably the 2nd most important but one that never gets mentioned somehow, managements previous successes matter a lot, because it at least creates some track record and by default gives them a couple extra bonus points. POS CEO Peter Harold for example was a co-founder of Panoramic resources which the company started at 10cents a share and got up to $4 at their peak during the GFC funnily enough, he has a podcast episode with Marcus Today if anyone is interested in listening to him. The stock has since come crashing back down to 18cents and fell off a cliff if you look at their chart all time. Now he is the main one I know of due to the podcast, but if you want to learn about your CEO a google check is usually enough and it only takes 10 minutes, and you can find out a lot of info usually. + +Lack of debt- +There is a reason the majority of these companies don’t use debt and they more or less don’t have much choice. If the company gets bogged down in debt early on before any sign of production appears then that’s a lot of capital, they now need to put away for interest (which is going to be quite high) and long term it is not good for the company. The issue here is similar to the cashflow issue which is how many cap raises should you expect? A company is going to burn money in a speculative stage we all know that but maintaining a decent share price is important to investors. So, do you take advantage of a pump like so many do? Do you hold out until earnings, or do you do what LKE did and use options, so investors think its some dream deal, when it’s the same essentially. + +Timeframe- +This is one which should be considered highly with any speccy stock and is a minor reason for why I just avoid them in general. The timeframe the company gives for when production should be started is important, a simple yet funny experiment is graphing a bunch of speccy miners and look at the historical pump and dumps and see what was going on. For LKE, LRS, 88e they have all been around for several years and have seen the share price rise on hopes and then fall back down. Now ultimately some are going to succeed and not crash back down which is why we haven’t heard of them. But understanding when management expect production and quickly scanning through a few annual reports can be of a big help to see if this has remained consistent. + +The odds are low hence you need to buy more to get the rocket- It is certainly possible to just buy 1 or 2 speccy mining stocks and they be the ones who hit production and rocket, but usually you need to choose quite a few because predicting which one will rocket next is almost impossible unless you have a great understanding of the companies or are great with understanding the numbers. Also, if you put all your eggs in one basket the opportunity cost is insane if you are wrong, whereas if you pick a few and one rockets then all of a sudden it becomes worth it which we have seen quite a few times from people posting their portfolios. + +To understand the companies is not that easy- +I have said it a few times already in this post, but I don’t understand speccy mining numbers in terms of grading/production needed to make the company realistically profitable and successful. Now if you have a Geology degree this is probably the easy part for you, or if you have dedicated your time to it, but I don’t look at these companies or have much interest in commodities, so I don’t understand them. That’s why basically all of these points come from a fundamental level, because as I mentioned at the start it comes down to if the company can achieve what they set out to do, and I am in no position to say whether I think its realistic or if the quality is good enough or blah blah…Circle of competence essentially. + +Get rich quick- + A lot of these companies offer a way to essentially get rich quick if everything goes well and the share price follows, which is great in theory but why not just do this with boomer stonks? PME, GNC, CSL, APT, FMG and so on, you could have had great returns from these companies, especially FMG who has done great from the commodity boom. The risk is much less, and the reward is lower, but you don’t need to find many of these kinds of companies very often to become rich overtime. Now if you are just gambling then that’s different and then Goodluck, especially if you have some expertise in the field! + +Okay okay, yes, I have just bashed the shit out of speccy mining stocks so let’s look at from someone else’s perspective and why they might be good. If you are happy with a high amount of risk then they are a choice, but so are options for large caps. Also, I understand it’s much more interesting to watch a stock go up 10-20% in a week than 1-3%, especially if you are holding the company that rocketing, so if you have a high-risk tolerance and a solid understand of speccy miners then it’s a choice. But once again I don’t see how the majority of our sub can have a great understanding and not just be involved in pump and dumps, 88e for example. + +Is this post Bias, 100%, yes. I don’t like them and as such the negatives to me stick out a lot more and its hard to come up with positives except for the occasional company that rockets due to achieving their goals. This post is not designed for you to hate speccy stonks, but rather to hopefully consider these fundamentals a bit more next time you look at buying them and not just listen to the next mining DD. Because even though the person may believe in the stock it doesn’t mean the share price is justified and it may be a long term hold not some short-term boom expected. + +This is all my personal opinion and I’m sure there’s quite a few of you out there who understand the numbers behind grading/production needed and the timeframes who can provide multiple counter examples as with anything stock related. But next time you see a DD on a speccy mining stock or any DD check for the negatives because there’s so many out there that don’t highlight the negatives and paint a blatantly bias picture, more so even than this post. Compare /u/Nevelo or /u/Calculated-Punt DD’s which highlight the negatives in some detail and are of high quality to…well I’m not going to shit on anyone directly but other posts where there’s no to very little mention of negatives. + + +No idea what to flair this so ill leave it up to the mods +Here's the thing about legal filings and CYA turns of phrase- the lawyers who craft these documents do so based on precedent and are encouraged to reuse legal terms as much as possible in order to avoid misinterpretation. Turns out you can actually search the SEC's vast archive of 10-K filings for specific phrases. Let's see just how common this language is, shall we? First, the actual excerpt from the 10K filing in its entirety: + +&#x200B; + +>**The market price of our Class A Common Stock has been extremely volatile and may continue to be volatile due to numerous circumstances beyond our control.** +> +>Stock markets in general and our stock price in particular have recently experienced extreme price and volume fluctuations that have often been unrelated or disproportionate to the operating performance of those companies and our company. For example, on January 28, 2021, our Class A Common Stock experienced an intra-day trading high of $483.00 per share and a low of $112.25 per share. In addition, from January 11, 2021 to March 17, 2021, the closing price of our Class A Common Stock on the NYSE ranged from as low as $19.94 to as high as $347.51 and daily trading volume ranged from approximately 7,060,000 to 197,200,000 shares. During this time, we have not experienced any material changes in our financial condition or results of operations that would explain such price volatility or trading volume. These broad market fluctuations may adversely affect the trading price of our Class A Common Stock. In particular, a large proportion of our Class A Common Stock has been and may continue to be traded by short sellers which has put and may continue to put pressure on the supply and demand for our Class A Common Stock, further influencing volatility in its market price. Additionally, these and other external factors have caused and may continue to cause the market price and demand for our Class A Common Stock to fluctuate substantially, which may limit or prevent our stockholders from readily selling their shares of our common stock and may otherwise negatively affect the liquidity of our Class A Common Stock. +> +> +> +>**A “short squeeze” due to a sudden increase in demand for shares of our Class A Common Stock that largely exceeds supply has led to, and may continue to lead to, extreme price volatility in shares of our Class A Common Stock.** +> +>Investors may purchase shares of our Class A Common Stock to hedge existing exposure or to speculate on the price of our Class A Common Stock. Speculation on the price of our Class A Common Stock may involve long and short exposures. To the extent aggregate short exposure exceeds the number of shares of our Class A Common Stock available for purchase on the open market, investors with short exposure may have to pay a premium to repurchase shares of our Class A Common Stock for delivery to lenders of our Class A Common Stock. Those repurchases may in turn, dramatically increase the price of shares of our Class A Common Stock until additional shares of our Class A Common Stock are available for trading or borrowing. This is often referred to as a “short squeeze.”A large proportion of our Class A Common Stock has been and may continue to be traded by short sellers which may increase the likelihood that our Class A Common Stock will be the target of a short squeeze. A short squeeze has led and could continue to lead to volatile price movements in shares of our Class A Common Stock that are unrelated or disproportionate to our operating performance or prospects and, once investors purchase the shares of our Class A Common Stock necessary to cover their short positions, the price of our Class A Common Stock may rapidly decline. Stockholders that purchase shares of our Class A Common Stock during a short squeeze may lose a significant portion of their investment. +> +> +> +>**Future sales of a substantial amount of our Class A Common Stock in the public markets by our insiders, or the perception that these sales may occur, may cause the market price of our Class A Common Stock to decline.** +> +>Our employees, directors and officers, and their affiliates, hold substantial amounts of shares of our Class A Common Stock. Sales of a substantial number of such shares by these stockholders, or the perception that such sales will occur, may cause the market price of our Class A Common Stock to decline. Other than restrictions on trading that arise under securities laws \[(or pursuant to our securities trading policy that is intended to facilitate compliance with securities laws)\], including the prohibition on trading in securities by or on behalf of a person who is aware of nonpublic material information, we have no + +\*Total number of 10-K filings roughly estimated by the number of hits for the phrase "report" over five year (254,473 filings) and ten year (513,510 filings) periods. + +&#x200B; + +* **How often does "extremely volatile" appear in SEC 10-K filings?** + +The phrase is found in **968** of all 10-K filings in the past 5 years or **0.38%** of all filings + +[https://www.sec.gov/edgar/search/#/q=%2522extremely%2520volatile%2522&filter\_forms=10-K](https://www.sec.gov/edgar/search/#/q=%2522extremely%2520volatile%2522&filter_forms=10-K) + +The phrase is found in **2,268** of all 10-k filings of the past 10 years or 0.44\*\*%\*\* of all filings + +[https://www.sec.gov/edgar/search/#/q=%2522extremely%2520volatile%2522&dateRange=10y&filter\_forms=10-K](https://www.sec.gov/edgar/search/#/q=%2522extremely%2520volatile%2522&dateRange=10y&filter_forms=10-K) + +&#x200B; + +* **How often does "short squeeze" appear in SEC 10-K filings?** + +The phrase is found in **58** of all 10K filings in the past 5 years or **0.023%** of all filings + +[https://www.sec.gov/edgar/search/#/q=%2522short%2520squeeze%2522&filter\_forms=10-K](https://www.sec.gov/edgar/search/#/q=%2522short%2520squeeze%2522&filter_forms=10-K) + +The phrase is found in **87** of all of all 10k filings of the past 10 years or **0.017%** of all filings + +[https://www.sec.gov/edgar/search/#/q=%2522short%2520squeeze%2522&dateRange=10y&filter\_forms=10-K](https://www.sec.gov/edgar/search/#/q=%2522short%2520squeeze%2522&dateRange=10y&filter_forms=10-K) + +&#x200B; + +* **How often does "short exposure exceeds the number of shares" appear in SEC 10-K filings?** + +The phrase is found in **26** of all 10-K filings in the past 5 years or **0.010%** of all filings + +[https://www.sec.gov/edgar/search/#/q=%2522short%2520exposure%2520exceeds%2520the%2520number%2520of%2520shares%2522%2520&filter\_forms=10-K](https://www.sec.gov/edgar/search/#/q=%2522short%2520exposure%2520exceeds%2520the%2520number%2520of%2520shares%2522%2520&filter_forms=10-K) + +The phrase is found in **51** of all of all 10-k filings of the past 10 years or **0.009%** of all filings + +[https://www.sec.gov/edgar/search/#/q=%2522short%2520exposure%2520exceeds%2520the%2520number%2520of%2520shares%2522%2520&dateRange=10y&filter\_forms=10-K](https://www.sec.gov/edgar/search/#/q=%2522short%2520exposure%2520exceeds%2520the%2520number%2520of%2520shares%2522%2520&dateRange=10y&filter_forms=10-K) + +&#x200B; + +* **How often do "short sellers" appear in SEC 10-K filings?** + +The phrase is found in **361** of all 10-K filings in the past 5 years or **0.14%** of all filings + +[https://www.sec.gov/edgar/search/#/q=%2522short%2520sellers%2522&filter\_forms=10-K](https://www.sec.gov/edgar/search/#/q=%2522short%2520sellers%2522&filter_forms=10-K) + +The phrase is found in **754** of all of all 10-k filings of the past 10 years or **0.15%** of all filings + +[https://www.sec.gov/edgar/search/#/q=%2522short%2520sellers%2522&dateRange=10y&filter\_forms=10-K](https://www.sec.gov/edgar/search/#/q=%2522short%2520sellers%2522&dateRange=10y&filter_forms=10-K) + +&#x200B; + +* **How often do "insiders" appear in SEC 10-K filings?** + +The phrase is found in **4,503** of all 10-K filings in the past 5 years or **1.8%** of all filings + +[https://www.sec.gov/edgar/search/#/q=%2522insiders%2522&filter\_forms=10-K](https://www.sec.gov/edgar/search/#/q=%2522insiders%2522&filter_forms=10-K) + +The phrase is found in **8,893** of all 10-k filings of the past 10 years or **1.7%** of all filings + +[https://www.sec.gov/edgar/search/#/q=%2522insiders%2522&dateRange=10y&filter\_forms=10-K](https://www.sec.gov/edgar/search/#/q=%2522insiders%2522&dateRange=10y&filter_forms=10-K) + +&#x200B; + +* **How often does "perception that such sales will occur" appear in SEC 10-K filings?** + +The phrase is found in **67** of all 10-K filings in the past 5 years or **0.026%** of all filings + +[https://www.sec.gov/edgar/search/#/q=%2522perception%2520that%2520such%2520sales%2520will%2520occur%2522&filter\_forms=10-K](https://www.sec.gov/edgar/search/#/q=%2522perception%2520that%2520such%2520sales%2520will%2520occur%2522&filter_forms=10-K) + +The phrase is found in **109** of all 10-k filings of the past 10 years or **0.021%** of all filings + +[https://www.sec.gov/edgar/search/#/q=%2522perception%2520that%2520such%2520sales%2520will%2520occur%2522&dateRange=10y&filter\_forms=10-K](https://www.sec.gov/edgar/search/#/q=%2522perception%2520that%2520such%2520sales%2520will%2520occur%2522&dateRange=10y&filter_forms=10-K) + +&#x200B; + +So yeah...this type of disclosure **IS EXTREMELY RARE.** + +edit: formatting +## 1) Initial information gathering and filtering + +Once I identify something that looks like a good potential investment, I first go to the CoinMarketCap page for that symbol and look at the website and blockchain explorer. + +- Critically evaluate the website. This is the first pass of the bullshit detector and you can tell from a lot from just the website whether its a scam. If it uses terms like "Web 4.0" or other nonsensical buzzwords, if its unprofessional and has anonymous teams, stay away. Always look for a roadmap, compare to what was actually delivered so far. Always check the team, try to find them on LinkedIn and what they did in the past. + +- Read the whitepaper or business development plan. You should fully understand how this crypto functions and how its trying to create value. If there is no use case or if the use case does not require or benefit from a blockchain, move on. Look for red flags like massive portions of the float being assigned to the founders of the coin, vague definition of who would use the coin, anonymous teams, promises of large payouts...etc + +- Check the blockchain explorer. How is the token distribution across accounts? Are the big accounts holding or selling? Which account is likely the foundation account, which is the founders account? + +- Read the subreddit and blogs for the cryptocurrency and also evaluate the community. Try to figure out exactly what the potential use cases are and look for sceptical takes. Look at the Github repos, does it look empty or is there plenty of activity? + + +## 2) Fill out an Investment Checklist + +I have a checklist of questions that I find important and as I'm researching a crypto I save little snippets in Evernote of things that are relevant to answering those questions: + +- What is the problem or transactional inefficiency the coin is trying to solve? + +- What is the Dev Team like? What is their track record? How are they funded, organized? + +- Who is their competition and how big is the market they're targeting? What is the roadmap they created? + +- What current product exists? + +- How does the token/coin actually derive value for the holder? Is there a staking mechanism or is it transactional? + +- What are the weaknesses or problems with this crypto? + + +## 3) Create some sort of consistent valuation model/framework, even if its simple + +A simple model that just tries to derive a valuation through relative terms will put you above most crypto investors. Some simple valuation methods that anyone can do: + +- Metcalfe's Law which states that the value of a network is proportional to the square of the number of connected users of the system (n2). So you can compare various currencies based on their market cap and square of active users or traffic. + +- Another easy one is simply looking at the total market for the industry that the coin is supposedly targeting and comparing it to the market cap of the coin. Think of the market cap not only with circulating supply like its shown on CMC but including total supply. + +- If its meant to be just used as just a currency: Take a look at the circulating supply and look at the amount that is in cold storage or set to be released/burned. Most cryptos are deflationary so think about how the float schedule will change over time and how this will affect price. + +Once you have a model you like set up, you can compare cryptos against each other and most importantly it will require that you build a mental framework within your own mind on why somebody would want to own this coin other than to sell it to another greater fool for a higher price. Modeling out a valuation will lead you to think long term and think about the inherent value, rather than price action. + +Once you go through this 3-step methodology, you'll have a pretty good confidence level for making your decision and can comfortably sit back and not panic if some temporary short term condition leads to a price decrease. This is how "smart money" does it. + +## Think about your portfolio allocation + +You should think first in broad terms how you allocate between "safe" and "speculative" cryptos. For new investors its best to keep a substantial portion in what would be considered largecap safe cryptos, primarily BTC and ETH. I personally consider XMR to be safe as well. A good starting point is to have between 50-70% of your portfolio in these safe cryptocurrencies. As you become more confident and informed you can move your allocation into speculative small caps. + +You should also think in terms of segments and how much of your total portfolio is in each segment: + +- Core holdings - BTC, Ethereum +- Smart contracts platform segment - Ethereum, Polkadot, ALGO, Solana …etc +- Privacy segment - Monero, Zcash …etc +- Finance/Bank settlement segment - Stellar ...etc +- Enterprise Blockchain solutions segment -VeChain ...etc +- Promising/Innovative Tech segment: NANO, ADA, Tezos ...etc + +You should also think about where we are in the cycle, as now given so much uncertaintly its probably best to stay heavily in core holdings and pick up a few coins within a segment you understand well. If you don't understand how enterprise solutions work or how the value chain is built through corporations, don't invest in the enteprise blockchain solutions segment. If you are a techie who loves the technology behind a coin, invest in that. + + +## Think of your "circle of competence" + +This is actually a term Buffet came up with, it refers to your body of knowledge that allows you to evaluate an investment. Think about what you know best and consider investing in those type of coins. If you don't know anything about how supply chains functions, how can you competently judge whether VeChain will achieve adoption? + +This where your portfolio allocation also comes into play. You should diversify but really shouldn't be in much more than around 12 cryptos, because you simply don't have enough competency to accurately access the risk across every category and for every type of crypto you come across. If you had over 20 different cryptos in your portfolio you should probably think about consolidating to a few sectors you understand well. + + +## Continually educate yourself about the technology and markets + +If you aren't already doing it: Read a bit each day about cryptocurrencies. There are decent Youtubers that talk about the market side of crypto, just avoid those that hype specific coins and look for more sceptical ones like CryptoInvestor. If you don't understand how the technology works and what the benefits of a blockchain are or how POS/POW works or what a DAG is or how mining actually works, learn first. If you don't care about the technology or find reading about it tedious, you shouldn't invest in this space at all. + +———————————————————————— + +There is no tldr haha. That was a pretty long one and I think it just about covers everything. Hope it helps! +I just got a raise to 14 dollars an hour! Woohoo! This raise puts my household approximately 5 thousand dollars a year over the threshold for any type of benefits. My daughter will lose Medicaid next year we will be kicked off food stamps and have to pay full price for childcare now! My fiancé makes 10 dollars an hour working at a daycare and we are now considered middle class! I haven’t had car insurance in 15 months and I can’t remember the last time I ate more than one meal a day. The good part about being at your lowest point is it can only get better right?? + +Edit: I’ve been trying to interact with as many people as possible on this post and it seems there’s a lot of people in similar situations. We will al get through this one way another and at the end of the day money is just a piece of paper. Thanks for all of the advice awards and well wishes friends! +I’ve spent my whole life focused on paying off my mortgage along with maximizing my registered retirement contributions, but I’d never really put much thought beyond that. + +I’m happy to say that we are now 100% debt free and I’ve caught up on any available room limit in our RRSP, RESP and TFSA accounts. I’m starting to see my savings account grow again, but I don’t know what to do with the money. Do I look at an investment property, or open a non-registered investment account?? + +We have about 15 years until retirement, and likely $20-30k per year to invest outside of our registered accounts. + +Any advice would be helpful. I’m not adverse to risk, but need something that isn’t overly complicated. +Your markets are run by bots. Now your /r/Asx_bets daily threads are too. + +Read the [wiki](https://www.reddit.com/r/asx_bets/wiki/index/) people[.](https://styles.redditmedia.com/t5_2hqqj5/styles/communityIcon_41pmnaqp4zn41.png?width=256&s=59bf38425fb316fdcba30365b272a5f19352f370) + +[Posts relating to the "Is /r/ASX\_bets about finance or effect your mental health?" etc will lead to a ban of the mods chosing. You have been warned.](https://www.reddit.com/r/ASX_Bets/comments/l0l9et/the_does_asx_bets_effect_your_finances_emotions/?utm_medium=android_app&utm_source=share) + +Automoderator may provide "Guidance" for Lazy and zero effort posting. + +[We have an active official/unofficial discord. It's open to all discussions, stonks related and non-stonks related.](https://discord.gg/wsNDGTf5QH) +Your markets are run by bots. Now your daily threads are too. + +&#x200B; + +This thread is for plans and thoughts prior to the market open period. + +Maybe use this time to read the [wiki](https://www.reddit.com/r/asx_bets/wiki/index/) [.](https://styles.redditmedia.com/t5_2hqqj5/styles/communityIcon_41pmnaqp4zn41.png?width=256&s=59bf38425fb316fdcba30365b272a5f19352f370) + +&#x200B; + +Posts relating to the "Is /r/ASX_bets about finance or effect your mental health?" etc will lead to a ban of the mods chosing. [You have been warned](https://www.reddit.com/r/ASX_Bets/comments/l0l9et/the_does_asx_bets_effect_your_finances_emotions/?utm_medium=android_app&utm_source=share). + +&#x200B; + +[We have an active official/unofficial discord. It's open to all discussions, stonks related and non-stonks related](https://discord.gg/EKU2tVBp9u). +An attorney that practices in MO/KS sent our landlord group some recommendations today that I thought were worth passing on and some forms that can be used. (If you want the forms, you'll be able to access the law firm's forms at the link below. Although she only practices in those two states and your state laws may be different, I think it's worth looking at her forms and adapting them to your state's laws. ) + +She pointed out that landlords should do the following things: + +1. If you forgive rent for one or more tenants, you should be prepared to do the same for all tenants if you wish to avoid potential allegations of discrimination. +2. You should have a written guideline for any hardship relief you'll provide, and then provide relief in accordance with that guideline. There should be equal application regardless of protected classes of people (race, age, color, religion, national origin, pregnancy, family status, citizenship, or disability.) +3. You should require all communications with tenants about any COVID-19 debt relief to be in writing, and you should keep copies of those communications. + +You can find tenant communication forms that will offer you some legal protection as well at her website [www.mokslaw.com/forms](https://www.mokslaw.com/forms) under the "COVID-19" section. +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. +My dad says he wants me to sign for a mortage for our family, since his credit is bad after a foreclosure a few years ago. He says that they will even pay the down payment and monthly payments. I'am scared and don't know what to do. Edit: wow this post blew up, wasn't expecting that... need to turn off notifications +I've been seeing a lot of investors try to sell their training course. I am a skeptical person in general but I still try to give everyone benefit of the doubt. Have you ever paid for a real estate seminars that was actually worth it? +I'm not sure how much traction this will get and I might be in the minority here.... Also bear with me, I'm on mobile due to the power going out. + +Anyway, I subscribed to this sub to see posts about real estate investing, people's numbers, their spreadsheets, ideas and strategies. As of late, there are numerous posts that are just political circle-jerking. Many articles are being shared that are little more than opinion pieces on proposed legislation that the OP then gets their jollies off calling "leftist commie ideas". I get it, legislation affects what landlords can and can't do, but posting about and discussing legislation is different than posting about "wild crazy ideas" only to be like, "man wtf are they thinking"..... + +And I'm proud of a large percentage of you guys that generally correct the OP or give an alternative view of things. + +Again, I realize a lot of this is being inflated by what's going on with Covid and the media overall sensationalizing everything.... Sorry for the rant. +We have a really good infrastructure inside a 20km boundary. We can build so so beautifully and sustainably within that boundary. We can support the growing population, but we sprawl outwards like monkeys while most of the good space is used inefficiently. We also throw good money at building and supporting the bad infrastructure for those sprawling places. + +I am currently in rural Victoria for a small trip, and the vast nothingness here is making me appreciate what we have 10x more. +My stock portfolio is almost at 20k, my savings are looking great, but every time I see anything about crypto it makes me feel like an idiot, gains that are just insane like the most recent with shiba, someone’s account went from 13k to 5B in 400 days, now personally I think most coins are a pump and dump scam but the gains are making me feel stupid. How are you guys feeling about it? + +Hedge Fund Rumored to have gotten margin called; Forced to Liquidate over 30 Billion in assets; Some stocks heavily discounted. + +Over the last week, some stocks experienced heavy sell pressure: $BIDU, $IQ, $TME, $VIAC, $VIPS, $YY + +This is rumored to be caused by forced liquidation from one highly leveraged hedge fund: Archegos Capital + +Sources: + +[https://finance.yahoo.com/news/exclusive-tiger-cub-archegos-liquidation-015109185.html](https://finance.yahoo.com/news/exclusive-tiger-cub-archegos-liquidation-015109185.html) + +[https://www.bloomberg.com/news/articles/2021-03-27/goldman-sold-10-5-billion-of-stocks-in-block-trade-spree](https://www.bloomberg.com/news/articles/2021-03-27/goldman-sold-10-5-billion-of-stocks-in-block-trade-spree) + + +Even though some of these stocks have run up greatly during the past year, this sudden event can bring BTD opportunities for investors +Ethereum address: [https://etherscan.io/address/0x664638c364299bbd343d07d7ad0c89df7a339198](https://etherscan.io/address/0x664638c364299bbd343d07d7ad0c89df7a339198#tokentxns). + +Here's my previous thread about the address: https://www.reddit.com/r/Superstonk/comments/otdhum/the_ethereum_address_ive_been_following_with_the/. + +Potentially one transaction of $16,588.95158 away from there being enough to represent every one of the [74.38m outstanding shares](https://finance.yahoo.com/quote/GME/key-statistics/) at $0.001 a share, which is what their value is in the current depository they're held. Please keep in mind this is speculative and it's possible this ends up being a nothing burger, but it is a real possibility IMO, either way I will continue to buy and hold. 🚀 + +|date|amount| +:--|--:| +|8/02/21|9,996.27069| +|7/28/21|5,084.306187| +|7/15/21|3,374.754044| +|7/15/21|19| +|6/27/21|7,173.55795| +|6/23/21|10,594.888128| +|4/26/21|21,548.271421| +|total|57,791.04842| + +edit: **Why was this was debunked?** + +edit 8/5/21: Still haven't heard why this is considered debunked, and **in my opinion it hasn't been debunked only more confirmation** towards it being true as there was a new transfer today of $19,994.098482 bringing the total amount to 77,785.146902! Looks like there's enough to represent every outstanding share! If anyone has the official count for the outstanding shares, please share as the Yahoo number I've been told is low. + +|date|amount| +:--|--:| +|8/05/21|19,994.098482| +|8/02/21|9,996.27069| +|7/28/21|5,084.306187| +|7/15/21|3,374.754044| +|7/15/21|19| +|6/27/21|7,173.55795| +|6/23/21|10,594.888128| +|4/26/21|21,548.271421| +|total|77,785.146902| +So I'm pretty concerned about the current state of crypto.. Cardano, EOS, IOTA, Verge, XBY are all super highly valued with little product behind them. The overall crypto market cap is increasing by like 100B a week. The dot com bubble popped at 3 trillion so if crypto pops at a similar time, it could be happening even as soon as Q2 2018. + +I'm really hoping that everything cools down and we can see a steady growth rate over 2018. But if everything keeps going up 20% a week, I don't see how this is sustainable for the year. + +I'm not trying to FUD or get anyone to sell, just looking for some other people's opinion on the state of the market. + +EDIT: Here's some basic math to show how these returns are not sustainable. at a 5%, 10% and 20% weekly return for the next 52 weeks. With the total crypto market cap calculated in 52 weeks time given a total market return of 5%,10% or 20%. + +For every $1,000 invested, your return would be... + +5%: $1,000 * (1.05^52) = $12,642 = 1,164% RoI = 9.8 Trillion Total Market Cap + +10%: $1,000 * (1.10^52) = $142,042 = 14,104% RoI = 1,071 Trillion Total Market Cap + +20%: $1,000 * (1.20^52) = $13,104,630 = 13,310,363% RoI = 99,587 Trillion Total Market Cap + +I don't think that the entire market will experience these returns, but I've been experiencing an average weekly compounded return of about 19.5% on a diversified portfolio of alt coins over the last 8 weeks, and it is definitely a bit concerning. +Remember when Elon Musk mentioned to launch Satellite Doge-1 to make Doge the first cryptocurrency in space? Well, this didn't age well. DogeBonk filled a Ledger with $DOBO, and the rest is history. They are revealing their footage tomorrow on Twitch. Make sure to tune in 🔥🔥🔥 + +Twitter is going crazy and our hashtag #SorryElon is trending. Will Elon Musk notice our stunt? 👀 A lot of press release has been prepared. Don't miss out. + +Our devs are always active and engaged. Just yesterday they launched MemeTools, which will be a platform similar to CoinGecko/CoinMarketCap, but for meme coins only. To get listed, project owners will have to buy DOBO and burn them, which means the price will likely continue to go up 🚀 (No financial advice) + +Tired of getting rugged in the crypto world? DogeBonk's liquidity is fully locked and the ownership of the contract is renounced, which means that devs have 0% control over the token anymore and can't rug their community. Solidity Finance, a reputable audit company, has confirmed that their code is sound and safe 🔒 + +We are loved by a lot of reputable people, such as the co-founder of Zcash, a former professor at MIT, the former CEO of BitMEX and the winner of Bachelor (check on our website: [dogebonk.com](https://dogebonk.com)). + +Make sure to join our awesome community! We are active, creative and open-minded ❤️ + +If you don't know how to buy DogeBonk (DOBO), feel free to ask in our community. + +&#x200B; + +&#x200B; + +Telegram: [https://t.me/dogebonk\_community](https://t.me/dogebonk_community) + +Discord: [https://www.reddit.com/r/DogeBONK/comments/qjvgd6/remember\_to\_join\_the\_dogebonk\_discord/](https://www.reddit.com/r/DogeBONK/comments/qjvgd6/remember_to_join_the_dogebonk_discord/) + +Audit: [https://solidity.finance/audits/DogeBonk](https://solidity.finance/audits/DogeBonk) + +Website: [https://dogebonk.com](https://dogebonk.com) + +&#x200B; + +Contract Address: 0xAe2DF9F730c54400934c06a17462c41C08a06ED8 + +&#x200B; + +How to buy with Metamask: [https://docs.dogebonk.com/guides/purchasing-with-metamask?utm\\\_source=dogebonk](https://docs.dogebonk.com/guides/purchasing-with-metamask?utm\_source=dogebonk) + +How to buy with Trustwallet: [https://docs.dogebonk.com/guides/purchasing-with-trust-wallet?utm\\\_source=dogebonk](https://docs.dogebonk.com/guides/purchasing-with-trust-wallet?utm\_source=dogebonk) + +How to buy with Binance Wallet: [https://docs.dogebonk.com/guides/purchasing-with-binance-wallet?utm\\\_source=dogebonk](https://docs.dogebonk.com/guides/purchasing-with-binance-wallet?utm\_source=dogebonk) + +&#x200B; + +Battlebonk: [https://www.battlebonk.xyz/game/index.html](https://www.battlebonk.xyz/game/index.html) + +Memes: [https://webonk.in](https://webonk.in) + +Subreddit: [https://www.reddit.com/r/DogeBONK](https://www.reddit.com/r/DogeBONK) + +Twitter: [https://twitter.com/dogebonk\_token?ref\_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Eauthor](https://twitter.com/dogebonk_token?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Eauthor) + +Medium: [https://bonksquad.medium.com](https://bonksquad.medium.com) + +Bonkcraft: [https://bonkcraft.com/](https://bonkcraft.com/) +Hi there + +I am a bit embarrassed to ask this.. + +I am totally new to FatFIRE. + +I am a self made entrepreneur. I am 42 and I have a NW of 4.8 million. I have no kids and I am single. + +Some day I will also inherit money, although I try to never think about that and I don't care if my parents leave me anything.. + +..but its likely I probably will never have to work again if I don't want to. + +I have no loans and I own my condo. But I also do not have a solid income as I am trying to grow my new business. But I am quite sure it will make multiple six figures this year. + +I made most of my money selling my last business. + +I am def no financial genius and I have my money invested into stock and (soon) real estate.. but my strong point is starting things that make money .. not really using money to make money. + +&#x200B; + +I don't like many luxury items.. but I have found this car I am completely in love with. + +Its 300 grand, and its over sticker because of the demand for cars right now. + +Its just truly a work of art. + +&#x200B; + +I realize a car is just a material item, but I've had Porsches in the past and the feeling they provide just seems to have good emotional return on investment :) as they put a smile on your face every time. + +Just wondering -- is 300k on a car a bit too much? I guess it really comes down to many factors. +I live in a developing country. Had some tough financial times and had to start using the free clinic in my town. I had to be there 7am this morning to get in line, took me 2 hours to see the nurse who always makes me get a urine sample. I have to walk past many people to the toilets at the back, collect the sample, walk all the way back with a big funnel looking cup. They won't tell me what the test is for, just that I need it to see the doctor along with weight and BP. First time I came was for birth control so it made sense as a pregnancy test. But why would they need to test it every time I come there? And then after she's dipped the strip of paper in I have to carry my cup all the way back to the bathroom to empty it out. I was instructed to then put it back down on the table where I found it. I really hope someone is going in there to wash those cups between patients, I've never seen them do it but I keep hope. If not what is the point if every urine sample is contaminated by the previous users. + +After an hour and a half I get to see the doctor who's calling reception because my results aren't in the file, but my consultation is at least professional. Medication is also free so I go to the pharmacy where they fill half of my prescription another hour later. I let them know that there is some missing and I'm told to take a seat. After waiting another 30 minutes they ask why I'm still there. I explained and was told to go to reception to get my file because they sent it back. I was on the verge of tears out of pure frustration. It's like this pretty much every time I've been here. Turns out that the second part of my script was out of stock and instead of just letting me know, threw it in the done pile. + +2 years ago I would have made an appointment with my GP, shown up and been escorted in within a few minutes, been treated with dignity and respect, had all my questions answered, gone to a pharmacy and filled my prescription. They'd explain again what the meds are and how to take them and they would have smiled at and greeted me. I'd do it all in my lunch hour. + +I can't explain how much disdain the employees at the free clinic have on their face at having to deal with another poor person in their busy day full of more of these faceless people. I lost half a days wages to be treated like this, and I know i should just be thankful for it, but I'm not. + +ETA: a few people have pointed out that the urine sample is most likely for a drug test. +&#x200B; + +Netflix Inc.’s co-chief executive officer says his firm remains the “global champion” of streaming, blaming the loss of 200,000 subscribers in the first quarter on inflation that’s prompted households to reduce spending. + +“Every customer is asking the question of the value of a subscription in relation to its cost,” Ted Sarandos said in an interview with French newspaper Le JDD on Sunday. Netflix’s vision to “satisfy the consumer” remains intact, he added, citing the popularity of the new season of “Stranger Things.” + +Netflix has been trying to bring costs under control as its subscriber growth slows. As part of those efforts, the streaming giant has laid off employees, including 150 in May and another 300 in June. + +Source: [https://www.thevesign.com/netflix-ceo-blames-this-for-massive-loss/](https://www.thevesign.com/netflix-ceo-blames-this-for-massive-loss/) + +**Netflix NFLX co-CEO has blamed the loss of 200,000 subscribers in the Q1 on inflation that’s prompted households to reduce spending. Do you agree that theQ1 $NFLX subscriber loss was due to inflation?** + +**Do you agree that the Q1 NFLX subscriber loss was due to inflation?** +I've heard that in the 60-70s the US had a 70% Income Tax on the very wealthy. How it would affect the US economy if the new Biden administration put it back in place? +I see alot of people talking about how we have too many billionaires, and how it's a bad thing? But all I see, it seems like for to some extent, these people have no choice but to be billionaires. + + + + + + + + + + + + + + + + + + + + + + + +My reasoning behind the thought, is when Amazon provides a service, and millions of people use it, it automatically creates a billionaire. So do billionaires exist because those individuals seek out billions, or is it more they provide such a great product/service that they are kinda forced into becoming billionaires? +When you’re buying with dollars, euros, or pounds, everything you buy is within the 1 dollar ~ 100 dollar range. (In a supermarket, let’s say) + +However, when you’re buying with yen, everything is within 100 ~ 10000 yen. + +Why do some currencies have so many zeroes, and some have no zeroes? + +Why is it so difficult to imagine a soda bottle costing 100 dollars in USA, whereas it is normal for a soda bottle to cost 100 yen in japan? +Hello r/personalfinance, + +I would like to share with you a scam that my roommate almost got himself into, until I talked him out of it and read the email exchange. My roommate is planning on subletting his apartment for the summer, and posted an ad on Craigslist. He got a response the same day from a "girl" from Switzerland. The girl asked him to immediately remove the listing so that he was committed to the deal. She told him she was willing to pay any price, and move in/out on any day. The only caveat, however, was that she would have her boss send him a check for more than the amount for rent and utilities for the entire summer, and then he would send back the remainder. On top of this, she needed the remaining money so she could book her flight over here. This meant he would need to send the money back soon, before he could really check to see if the check clears. She also told him to take as much as he needed, with no real set price, and this was before seeing any pictures of the apartment. + +He thought this sounded totally reasonable, and was about to do it, before I warned him not to and to look into it some more. I knew from reading on this subreddit, that many scams involve sending a check to a person, then having the person send money back before the check completely clears, so thank you r/personalfinance! I am almost positive this is a scam, and wanted to thank you guys, and watch out for this kind of scam for yourselves! + +[(Apes, this is a continuation of Part 3, please find the first half of Part 3 here)](https://www.reddit.com/r/Superstonk/comments/ogzoco/hyperinflation_is_coming_the_dollar_endgame_part/) + +# The Money Illusion + +[In 2008](https://krugman.blogs.nytimes.com/2010/08/11/debt-in-the-30s/), we were at the end of a major debt supercycle. The frenzied mortgage lending and securitization in the financial sector, along with massive consumer credit borrowing, had set the U.S. up for a major crisis. In relative terms, we were at a 27% HIGHER total debt to GDP ratio than the Great Depression. + +These massive debt loads were coming home to roost, manifesting first as a crisis in subprime but then quickly moving to prime mortgages, corporate debt markets, money markets, and even the consumer credit markets. As discussed in Part 2, NY Fed Pres Tim Geitner stated that during the darkest days of 2008 the inter-bank lending market was freezing up, and we were “[days away from the ATMs not working](https://www.youtube.com/watch?v=QozGSS7QY_U)”. + +&#x200B; + +[Total US \(Public+Private\) Debt to GDP](https://preview.redd.it/rfxp8w0v18a71.png?width=482&format=png&auto=webp&s=bdd16cb4fcc7a4d1fd966a5be51e838a07dc2edd) + +&#x200B; + +But, this didn’t happen. Ben Bernanke, the Chairman of the Federal Reserve, was a self avowed student of the Great Depression- and was determined not to let it happen again. He, along with Treasury Secretary Hank Paulson (Former CEO of Goldman Sachs) and Tim Geitner, created new lending facilities and MBS purchase programs in order to swallow the massive amounts of toxic assets the system had created. + +Paulson and Bernanke technically had no legal authority to create these programs, but in a crisis, all caution goes out the window. [TARP](https://www.investopedia.com/terms/t/troubled-asset-relief-program-tarp.asp) and other programs authorized by the Treasury bought billions of dollars of MBS, funded by T-bond issuances. This chart shows [US Govt Debt as a % of GDP through today](https://fred.stlouisfed.org/series/GFDEGDQ188S): (notice the spike in debt during and after 2008) + +[US Government Debt To GDP](https://preview.redd.it/ujn9zuyw18a71.png?width=625&format=png&auto=webp&s=0ae7d013a9908e1a43cf2d3be8e3a2646f4ac06a) + +**The US borrowed heavily- TARP alone was authorized for $700 billion. The Treasury did not have the funds to support this so it issued billions of dollars of T-Bonds.** Banks, hedge funds, other governments, and the Fed all bought these bonds en masse. + +**Remember, only the Treasury has the ability to SPEND, and only the Fed has the ability to LEND/PRINT.** The Fed was created as a private institution to “protect” the government from reckless money-printing. The [Primary Dealers](https://www.investopedia.com/terms/p/primarydealer.asp) (banks approved to trade directly with the Govt) buy Govt bonds from the US Treasury, and turn around and sell these bonds to the Fed or other third parties. If you’re confused about how the system works, I recommend watching [this video on how the financial system functions](https://www.youtube.com/watch?v=iFDe5kUUyT0&list=PLF_lD6tTQahfNDvjbfl2OJQWxHBSDYUcA&index=7). + +In the equity markets, as we started bottoming in the first quarter of 2009, hedge funds, banks, and family offices began loading up on margin debt again. This renewed confidence in the banking system and overall lending capacity began [pushing equity markets](https://www.advisorperspectives.com/dshort/updates/2021/06/16/margin-debt-and-the-market-up-1-7-in-may-continues-record-trend) back up. + +&#x200B; + +[Margin Debt and Stock Market Rally](https://preview.redd.it/pbrzfxpz18a71.png?width=638&format=png&auto=webp&s=55dd56a772f393a4df2969eb153c93f97c37a581) + +Further stabilizing the markets was the Federal Reserve with their massive Quantitative Easing program. In 2008, the [Federal Reserve’s Balance Sheet ballooned](https://fred.stlouisfed.org/series/WALCL)\- assets (Treasuries and MBS) grew from $880 Billion pre-crisis, to $2 Trillion immediately after, and eventually over $4T by 2014. Many economists, particularly those with a libertarian bent, such as Peter Schiff, immediately decried this reckless behavior and predicted immediate hyper-inflation as early as 2011. + +[Federal Reserve Balance Sheet](https://preview.redd.it/c3xymxf228a71.png?width=617&format=png&auto=webp&s=6022846b09f94c79188be23c66859b95a342063b) + +When the Fed buys assets, it is completely different from any other institution buying. Pension plans or mutual funds use the savings of the investors of the fund. **Because that money came either from working, or from other investments, it represents NO net increase in money supply.** The money they received HAD to come from someone else, for a good/product/service/asset they created or provided. + +However, the Fed has no taxing authority, no savings, no funds to speak of at all- **EVERYTHING the Fed buys it purchases through money it PRINTS**. **Thus, Fed Balance Sheet expansion=money printing. The Fed printed $2T in the two years following 2008.** + +**This rampant money printing rightly worried experts and pundits in the media- but the inflation they feared never came. They were flat out WRONG. Why?** + +**Most of the new money that was printed went directly into the banking system**. Lyn Alden describes it brilliantly- + +“Leading into the financial crisis, only about 13% of bank reserve assets consisted of cash (3%) and Treasury securities (10%). The rest of their assets were invested in loans and riskier securities. This was also at a time when household debt to GDP reached a record high, as consumers were caught up in the housing bubble. + +That over-leveraged bank situation hit a climax into the 2008/2009 crisis, coinciding with record high debt-to-GDP among households, and was the apex of the long-term private (non-federal) debt cycle. **When banks are that leveraged with very little cash reserves, even a 3% loss in assets results in insolvency.** And that’s what happened; the banking system as a whole hit a peak total loan charge-off rate of over 3%, and it resulted in a widespread banking crisis” (I can't link source, it keeps getting the post taken down- I will post it in comments). + +[Bank Recapitalization](https://preview.redd.it/h2e3zan728a71.png?width=621&format=png&auto=webp&s=21227fa9075245823c0e463a9626cf0bd5ba924e) + +**Thus, the new money went to recapitalize banks and shore up their balance sheets to defend them from bankruptcy- it stayed in untouchable bank reserves, and never entered circulation.** + +The money that didn’t go to repair bank balance sheets flowed directly into the markets - Let’s walk through it. + +There are two different economies-[ the real economy, and the financial economy. ](https://www.mdpi.com/1911-8074/14/3/129/htm)**The tidal wave of new money the Fed was creating did not cause inflation (in the traditional sense), because the money did not flow into the real economy- the goods, products and services that everyone consumes on a daily basis.** The money instead flowed into the Financial economy- bond markets, stock markets, private equity funds, commodities, Forex markets, etc. + +[Financial Economy vs Real Economy](https://preview.redd.it/b8v6b23a28a71.png?width=635&format=png&auto=webp&s=60f2d1ae42bdad9f98b92f03ebe1b7903c879b88) + +When you give a bank $100M, it doesn't go out and buy $100M worth of Big Macs and Kleenex- the bank puts these funds into investments, generally either in the form of loans or in the form of equities or equity derivatives. Thus, the funds that flowed into the banks are stored up almost exclusively in the financial system, or get pushed into loans to consumers. + +“Wait a second!”- you say. “The Fed printed money to buy T-Bonds- The Treasury usually spends funds that go into the real economy-- so THAT should have caused inflation, right?” + +Yes, this is typically what happens. **But, during and after the 2008 financial crisis the majority of Treasury expenditures went to programs that were stabilizing the financial system (TARP+ TAF+ TLGP+ Others). So, the money that would have been spent by govt agencies in the real economy** [**instead just flowed back to banks and financial institutions**](https://www.stlouisfed.org/publications/regional-economist/january-2011/a-closer-look-brassistance-programs-in-the-wake-of-the-crisis)**.** + +Typically in a recession the Treasury will increase spending to cushion the blow to workers- and in 2009 they did extend a few unemployment benefits. But, by and large, Congress authorized few benefit programs for workers, and the [average time on the benefit decreased after a slight bump in 2009](https://www.nytimes.com/2021/01/21/business/economy/unemployment-insurance.html). + +[Average Time on Benefit](https://preview.redd.it/345yskvc28a71.png?width=607&format=png&auto=webp&s=09c1baf172e55f5753b5542006f970280e3a7725) + +Thus, the amount of freshly-printed money that reached the real economy was minimal, and whatever money did reach it largely acted to counteract deflationary forces- it wasn’t enough to actually induce inflation. The government did little to stop foreclosures, or provide aid to small businesses. [Unemployment spiked](https://www.macrotrends.net/1377/u6-unemployment-rate), and due to the [Phillips Curve Principle](https://courses.lumenlearning.com/boundless-economics/chapter/the-relationship-between-inflation-and-unemployment/#:~:text=The%20Phillips%20curve%20shows%20the%20relationship%20between%20inflation%20and%20unemployment,run%20Phillips%20curve%20was%20stable.) (covered in Pt 1), this put a dampening effect on inflation. + +[Unemployment Rates](https://preview.redd.it/9dxis4se28a71.png?width=612&format=png&auto=webp&s=d9a66852c917d5a025c00f46900e4d16a4a180c4) + +The funds the Federal Reserve had created, therefore, created no inflation in the real economy- instead they [flowed to the financial economy](https://twitter.com/Mayhem4Markets/status/1411139236435275779?s=20) and inflated financial assets. This started off the [largest and longest bull market run in U.S. Stock market history](https://www.investopedia.com/market-milestones-as-the-bull-market-turns-10-4588903)\- easily beating emerging and other developed countries’ equity markets. + +[Massive US Stock Market Rally](https://preview.redd.it/mpg5b29h28a71.png?width=620&format=png&auto=webp&s=5f5621475cd0ecbd06d8897592ca085854683fc1) + +[Keynesian economists](https://www.investopedia.com/terms/k/keynesianeconomics.asp#:~:text=Keynesian%20economics%20is%20a%20macroeconomic,output%2C%20employment%2C%20and%20inflation.&text=Based%20on%20his%20theory%2C%20Keynes,economy%20out%20of%20the%20depression.) lauded this as an accomplishment- **they believed they were creating what is called a “**[**Wealth Effect**](https://www.investopedia.com/terms/w/wealtheffect.asp)**” - a theory that stated that as people’s financial wealth increased, they would be induced to do more spending and investment- thus, by propping up the stock market, they would stimulate the real economy. This is awfully convenient for the rich-** [**the top 10% own 85% of the equity markets,**](https://www.cnbc.com/2020/08/27/wealth-gap-grows-as-rising-corporate-profits-boost-stock-holdings-controlled-by-richest-households.html) **and thus have seen their wealth balloon by over 186% while growth for everyone else stagnated.** + +Ironically this theory has it exactly backwards- real economic growth should drive the stock market, not the other way around. But, convinced of their theories, economic policymakers continued to pump ever increasing sums into the financial system. + +**When you divide stock market performance by the Fed’s Balance sheet, you see that there has been basically NO real growth since 2008.** + +&#x200B; + +[The Rally is an Illusion](https://preview.redd.it/7locky7n28a71.png?width=740&format=png&auto=webp&s=3c21adbd363d10699e28ae34f0d4dc4b09a9e777) + +**The entire “rally” we have experienced for the past 12 years has been nothing but an illusion- it is simply the result of vast money inflows into the financial system.** Banks and financial institutions will do everything they can to convince you that the high stock market valuations are justified by fundamental growth. + +This is wrong- these valuations are NOT justified. Insane levels of money printing and debt leverage have created extremely dislocated equity markets. For example, [Square (SQ)](https://www.nasdaq.com/market-activity/stocks/sq) has a forward [PE ratio](https://www.investopedia.com/terms/p/price-earningsratio.asp) of 499.87- it currently doesn't pay a dividend, but let’s assume it paid a 3% [dividend payout ratio ](https://www.investopedia.com/terms/d/dividendpayoutratio.asp)(which is rare for tech stocks) - **if that were the case, it would take 14,996 YEARS for the dividends to pay pack the price of ONE SHARE. (449.87/0.03).** + +To summarize, see [this image](https://www.reddit.com/r/Superstonk/comments/njmqe2/were_approaching_the_endgame/) from a post I made a month back- **all the warning lights are blinking red. The markets are at the extreme end of the range by almost every valuation metric- and no one seems to care.** + +[Summary of Recent Warnings](https://preview.redd.it/vpw34xbs28a71.png?width=409&format=png&auto=webp&s=9ed5bd8caef1db4d622b2b3532425d130cfb5575) + +The markets are slowly being “walked up” every day. Today, the **ultimate price insensitive buyer (the Fed)** is now plowing $120B a month into Treasuries and MBS, and the Primary Dealers now have to turn around and put their money somewhere. **The bond market is already a trap with 2% yields, and 5% inflation. There’s no more profit potential there, so these institutions are forced to buy equities if they want any returns.** [**The Fed is killing whatever is left of price discovery.**](https://twitter.com/NorthmanTrader/status/1410296365012459521?s=20) + +[SPX grinding higher daily](https://preview.redd.it/pz00pg3w28a71.png?width=736&format=png&auto=webp&s=2149d1cc11b5cd1174492382ce230c1f566d7979) + +Four billion dollars or so a day is being pumped into the system- and going straight to the stock markets. + +Further, to stimulate growth in the real economy, [policymakers dropped interest rates to near 0% in late 2008 ](https://fred.stlouisfed.org/series/EFFR)to induce bank lending to get consumers to borrow and spend again. ([70% of our economy is consumption](https://fred.stlouisfed.org/series/DPCERE1Q156NBEA) due to the factors discussed in Part 1). + +This did create massive loan demand- basically every sector of the US economy began borrowing en masse. The Fed was able to “reflate” the bubble and allow the economy to survive on debt financing to “re-invigorate the economy”. **Fast-forward to today, and a decade of pinning rates to the zero-bound has us breaking records in terms of debt loads:** + +[Student Loan Debt](https://educationdata.org/student-loan-debt-statistics): + +[Student Loan Debt](https://preview.redd.it/2kzhfp0y28a71.png?width=604&format=png&auto=webp&s=a9db6ae3ff7854e90e32f27a2aed7e6601ae625a) + +[Corporate Debt:](https://www.washingtonpost.com/business/2020/03/10/coronavirus-markets-economy-corporate-debt/) + +[Corporate Debt to GDP](https://preview.redd.it/t59yd1e038a71.png?width=615&format=png&auto=webp&s=93d47f8d063b09e0f329d737688fcea732fe4582) + +[Consumer Credit Card Debt](https://wolfstreet.com/2020/08/09/the-state-of-the-american-debt-slaves-q2-2020-the-credit-card-phenomenon/): + +[Consumer Credit as &#37; of GDP](https://preview.redd.it/2of0cde238a71.png?width=422&format=png&auto=webp&s=6d04f2821f8e90fb9e75fe0a3023b8bae50fe5f9) + +&#x200B; + +[Auto Loan Debt](https://fred.stlouisfed.org/series/MVLOAS). + +[Auto Loans](https://preview.redd.it/32a1dkwc48a71.png?width=599&format=png&auto=webp&s=8b9c9816a63f3322686d0fdaaba9e8271426b0f5) + +I could go on and on, but you get the point. Now, the entire system is overleveraged- the cancer has spread, and it has infected virtually every single sector of the economy. + +**People keep saying that we “kicked the can” of 2008 down the road. This is WRONG. We kicked the can UP THE STAIRS- meaning, we not only delayed the problem, but made sure it would get WORSE, since we borrowed MORE to paper over the old debts and worthless securities the system had created.** + +**A fascinating aspect of our recent financial history is that** [**the bailouts are exponentially growing**](https://www.youtube.com/watch?v=GT1WqIkg9es&t=56s)**- this is due to the simple fact that the entity giving the bailout has to have a balance sheet multiples larger than the firm receiving the bailout, and government guarantees of banks induce reckless speculation.** For example, to bailout a bank with $10B in mark-to-market losses, you need a bank with a $20 or $30B capital surplus, to absorb the loss and keep the depositors and creditors satisfied that the bank giving the bailout won’t go under. + +In [1998, a hedge fund called LTCM ](https://www.thebalance.com/long-term-capital-crisis-3306240)was near collapse- [it had leveraged itself over 25-1](https://sites.duke.edu/djepapers/files/2016/08/prabhu.pdf), using complex algorithms made by Nobel Prize winning economists to predict bond prices. They had made massive derivative bets buying Russian bonds (among other things) - and when the Russian government defaulted in August 1998, their positions began to unravel. + +The massive debt and derivative exposure they had created was threatening to pull several large banks down with it. The Fed stepped in during September to organize a $3.5 Billion bailout, funded by 12 large banks. **According to James Rickards, General Counsel of the LTCM Bailout- the US equity and bond markets were “**[**close to being completely shut down**](https://www.youtube.com/watch?v=P4_1pwsm5LY&list=PLE88E9ICdiphYjJkeeLL2O09eJoC8r7Dc&index=8)**” during the worst of that crisis. (start at 16:30)** + +In 2008, the entire US financial system was nearing collapse and desperately needed a bailout. A massive bank run had begun. Congress stepped up and provided- in the end spending over [$498 Billion of taxpayer funds](https://mitsloan.mit.edu/ideas-made-to-matter/heres-how-much-2008-bailouts-really-cost). However, the Fed also provided a bailout (though QE), eventually [buying over $1.7 Trillion of MBS](https://fred.stlouisfed.org/series/WSHOMCB). + +Since the Great Financial Crisis, the banking system debt crisis has now become a government debt crisis, and indeed an economic debt crisis- **and this debt has spread worldwide.** Equity and bond markets have continued to march up, despite fundamentals. This new financial paradigm was rightly termed “[The Everything Bubble](https://www.amazon.com/dp/B0794RLM8R/ref=dp-kindle-redirect?_encoding=UTF8&btkr=1)” + +[Total World Debt](https://preview.redd.it/b01f8f4638a71.png?width=601&format=png&auto=webp&s=d91ead1be1711bb17666e242bde41e1b9d0fbc5f) + +[**Total (Govt+Private) Global Debt**](https://www.axios.com/global-debt-gdp-898959ed-f96a-4c4d-85a3-5d3cc419631f.html) **now stands at staggering $281 Trillion, or 356% of GDP.** We’ve never been here before- we are now navigating uncharted waters. The next bailout will have to be bigger- a LOT bigger. + +# Avalanches + +[Avalanche](https://preview.redd.it/mglsuam938a71.png?width=622&format=png&auto=webp&s=21330913e64427c381233b2f82f3f285d99f0610) + +Imagine a snowfield on an alpine slope, above a small town. A few inches of snow falls. Everything is fine. More snow falls. Still nothing happens. A blizzard moves in. A day later, the snowfield reaches critical mass. Then, a disturbance happens- it could be a deer foraging for food, or a hapless skier exploring the backcountry. The snow starts sliding, pushing the snow below it. Positive feedback loops start to engage. **The field begins to slide- now an avalanche has begun. The town is wiped out.** + +The financial crisis was the beginning of a debt avalanche- it’s likely that over 70% of the major banks, mortgage brokers, and other financial institutions would have gone bankrupt, superseding the Great Depression-era record of 30%. Thousands of private and public companies would have gone bankrupt. Real estate and equity markets would have entered a freefall lasting for years, and unemployment would likely have spiked past 30%, bringing back the soup lines not seen since 1936. + +Instead, policymakers kicked the can up the stairs- they issued massive amounts of government debt to paper over the 2008 crisis, and incentivized excessive borrowing in the private sector. The fundamental factors that caused the crisis (unregulated derivatives, bank combinations, excessive leverage, lack of oversight) were never resolved. **As** [u/Criand](https://www.reddit.com/u/Criand/) **so elegantly puts it, 2008 never ended. Now, with**[ **US Government Debt standing at over $28 Trillion**](https://fred.stlouisfed.org/series/GFDEBTN)**, there are only tough choices ahead. We will soon reach a point where the interest payments alone on the debt supersede all US Tax Revenues- when that happens, we will have traveled beyond the event horizon-** [**there will be no coming back**](https://www.cbo.gov/publication/56598)**. The debt will be IMPOSSIBLE to pay off.** (This is according to the governments own projections!)**📷** + +[US Government Debt Projection](https://preview.redd.it/rn0jnbzg38a71.png?width=795&format=png&auto=webp&s=28f68b2a6a282b563a62669e90c820792a9e7a5a) + +**The US Government continues to borrow- running a staggering**[ **$2.1 Trillion deficits for just the first half of 2021**](https://bipartisanpolicy.org/report/deficit-tracker/)**. There is no end in sight. The Biden Administration is pushing for another $**[**1.2 Trillion in infrastructure spending**](https://www.whitehouse.gov/briefing-room/statements-releases/2021/06/24/fact-sheet-president-biden-announces-support-for-the-bipartisan-infrastructure-framework/) **this year ON TOP of the already massive deficits. Some politicians are demanding that it be more.** + +**Day by day, we are adding snow to the mountains above our village. When will end is anyone’s guess, but borrowing more will only make the end worse.** + +# Smoothbrain Overview: + +* Through the magic of Fractional Reserve banking, institutions can loan out much more debt than cash that actually exists. This increases systemic risk. +* As a result, over 90% of all capital created is in the form of debt. This supercharges debt cycles and can cause massive bank failures. +* When debt super-cycles crest, and begin the march downwards, massive deleveraging and defaults begin. If the banking system is weak, bank runs begin. (1930s) +* We were hitting another end of the 80 yr debt cycle in 2008 (1929-2008 (79yrs)). We never de-leveraged the system. **Instead, we re-leveraged EVERYTHING even MORE.** +* The Government and the Fed swept in and bailed out the banks. Now the Federal Government is deeply in debt to the[ tune of $28 Trillion](https://fred.stlouisfed.org/series/GFDEBTN). +* **The trillions printed by the Fed were almost exclusively routed to the financial system- creating a new bubble in every single asset class,** larger and even more widespread than the 2008 bubble. +* **We never resolved 2008. We only kicked the can up the stairs.** The Derivatives monster from Pt 2, along with a massive debt avalanche, will come back with a vengeance. +* Almost every sector of the US economy, and indeed the world economy, is now greatly overleveraged. **Global Total Debt to GDP broke past 350% during Covid**. +* Options are running out for policymakers. Debt borrowing and money-printing cannot continue forever. + +# Conclusion: + +**The debt crisis will return, but this time, it will be the financial system, US government, and indeed the ENTIRE world economy that needs a bailout- and who has a big enough balance sheet to absorb that? The only answer is the ones with an infinite balance sheet- the Central Banks.** + +The idea that anyone can borrow forever, or print money forever, with no consequences, defies basic financial logic. **Impossible Objects cannot exist forever.** History shows deadly consequences for the nations that venture down either path. The United States is no exception. + +**The Fed has already tried to escape this trap in 2018. It failed. Sovereign creditors are losing faith in the US Treasury, and have been since 2015. The walls are closing in, and the ultimate decision must be made. (More on this in Pt 4)** + +**The avalanche is coming either way- and we only have two choices. Either we allow ourselves to be buried under a mountain of hyper-deflation, creating a new Great Depression, frozen credit and equity markets, and massive bank failures- or, we burn our way out, using the inferno of money-printing and hyper-inflation.** + +&#x200B; + +# BUY, HODL, BUCKLE UP. + +# >>>>>>>TO BE CONTINUED >>>>>>> PART FOUR (SERIES FINALE) “AT WORLD’S END” + +&#x200B; + +**(Adding this to clear up FUD- My argument is for hyperinflation to begin in a few years- this is a years- long PROCESS, and will take a long time to play out. It won't happen tomorrow, but we are in the same situation as Germany after WW1. Hyperinflation is GOOD FOR GME--- DEBT VALUE COLLAPSES, MONEY CHASES ASSETS (EQUITIES) pushing the price UP, so shorts will have to cover) BUY AND HOLD.** + +&#x200B; + +Nothing on this Post constitutes investment advice, performance data or any recommendation that any security, portfolio of securities, investment product, transaction or investment strategy is suitable for any specific person. From reading my Post I cannot assess anything about your personal circumstances, your finances, or your goals and objectives, all of which are unique to you, so any opinions or information contained on this Post are just that – an opinion or information. Please consult a financial professional if you seek advice. + +\*If you would like to learn more, check out my recommended reading list [here](https://docs.google.com/document/d/1nSw9odLoExaq0oEBqIHrCK1Xj5KfyjBkGQZ93LTh34g/edit?usp=sharing). This is a dummy google account, so feel free to share with friends- none of my personal information is attached. You can also check out a Google docs version of my[ Endgame Series here](https://docs.google.com/document/d/1552Gu7F2cJV5Bgw93ZGgCONXeenPdjKBbhbUs6shg6s/edit?usp=sharing). (ALL THESE LINKS ARE GOOGLE DRIVE LINKS, FROM A DUMMY ACCT!) + +**(Side note: I’ve been accused of being a shill/FUD spreader for the first two posts- please know this is NOT my intention! I cleared this series with Mods, (**[**PROOF**](https://drive.google.com/file/d/1HlM0vR0Mguo83k6KKKQg5HKyCZaLrOHQ/view?usp=sharing)**) (THIS IS A GOOGLE DRIVE LINK, I WASNT SURE HOW ELSE TO SHARE IT) but if you think this is FUD/SHILLY then downvote/comment and I can discuss further.)** +🎥xxxNifty | 🔞The Adult NFT Platform + +👉What is xxxNifty? + +XXXnifty is an NFT (Non-Fungible Token) Platform focused on adult content. + +They are changing the way fans interact with their favorite Adult Content Creators. Through NFT’s we allow Adult Content Creators to sell unique collectible videos/photos. + +Imagine owning one-of-a-Kind content in the form of an NFT from your FAVORITE content creator. They are creating a completely new way to interact with your favorite adult performer. + +Win a free NFT contest is currently LIVE on the Official XXXnifty Twitter: XXXNifty 🚀🚀 + +The XXXNifty team is going to be on the Jessa Rhoades & Cali Carter’s Podcast on June 7th. 👀 🚀 2m+ following +Professor Crypto video is soon to be released 🚀🚀🚀🚀 + +New NFT dropping today! 6/1 featuring artist Chokobanana 👀 🚀 + +Dev Doxxed ✅ + +Website v1 refresh in the works (tentative date 6/14) ✅ + +Amazing Community ✅ + + +$NSFW Available for purchase on PancakeSwap v2 + +👉Do you want to release an NFT with them? + +They are currently accepting submissions from adult entertainers on their website + +👉Who are the people who are part of the NFTs? + +Now they have Adult Content Creators like : Cali Carter, Jessa Rhoads, Chokobanana, Bonni Good, Devan , Gem Stoned , Haley Girl , Heauxslayer, Kyla Says Meow, Lacey Martin, PolyAnnie, QueenSkydive, Sinn Sage, Sn3JDargll35. + +Total Redistribution Rate: + +10% + +5% to go towards LP Providers (airdropped every two weeks) + +2% to existing holders + +2% to be burned + +1% to Marketing + +🚀If you want to know more about the Website and Contract you will find the information here: + +[https://www.xxxnifty.com/](https://www.xxxnifty.com/) + +📈0x9DAAa05946e486ADd2c81e0d32D936866B8449D9 + +📱Telegram Official Channel: [https://t.me/xxxnifty](https://t.me/xxxnifty) +It looks like there's bank runs happening in China, but no one seems to be talking about it much on here? + +From CNN: + +"Since April, four rural banks in China's central Henan province have frozen millions of dollars worth of deposits, threatening the livelihoods of hundreds of thousands of customers in an economy already battered by draconian Covid lockdowns. +Anguished depositors have staged several demonstrations in the city of Zhengzhou, the provincial capital of Henan, over the past two months, but their demands have invariably fallen on deaf ears. +On Sunday, more than 1,000 depositors from across China gathered outside the Zhengzhou branch of the country's central bank, the People's Bank of China, to launch their largest protest yet, more than half a dozen protesters told CNN." + +Full article [here](https://edition.cnn.com/2022/07/10/china/china-henan-bank-depositors-protest-mic-intl-hnk/index.html) + +What exactly does all this mean for the global markets? I was look at a thread on r/worldnews earlier and people seem to think this is Great Depression levels of bad, which I'm guessing it isn't if it's not getting as much attention as even Evergrande was. + +So what do we think? Is this a non-issue for global markets (in light of current pressures), or at we look at global economic catastrophe? +I did it guys! After struggling from paycheck to paycheck for my entire adult life, I have landed my first “big girl job”. Most entry level jobs in my field pay $45-50k/year. I took a chance and asked for $70k in the interview because I know how urgent their staffing need is, and we met roughly in the middle of what they were offering and what I asked. It is a Monday to Friday job, 8-5, good benefits. I’m so relieved beyond words. I make barely enough to pay my bills now, so this will change my life. I plan to stay in my cheap apartment for at least another 2 years so I can pay off debt and build some savings, but it’s finally here. +Sorry if this isn’t entirely on topic for the sub - but it does sort of relate to finances and I spend a lot of time here! + +I’m a 34 year old solicitor in a big firm. I’m completely burned out - I have no motivation anymore, I cry all the time, I’m just feeling completely done with all my clients and their demands. I’ve tried therapy, antidepressants and changing firms and nothing seems to work. + +I was on the FIRE path. I hoped that if I could hang in there another 5 years then I could pay off my mortgage and live off my savings. But I no longer feel that this is possible. I can’t keep going another five years and with my current performance, I’ll likely be fired anyway in the next year. + +I’ve just reduced my mortgage payments (by increasing the term). As a result I probably have 24 months of expenses in savings. + +My question is how bad does it look to quit without anything lined up? My partner and family I should get another job before I quit - but as I’d be looking at much lower stress/lower pay (entry level) jobs, I’m a bit worried that my three month notice period makes it pointless to apply, as I assume the people recruiting those positions want someone more quickly. However, I do realise that just leaving might be seen as a negative. + +Thanks, all. + +Edit: thank you everyone for your advice - I really do appreciate it. I’ve had another heart to heart with my partner and he’s on board with me quitting if that’s what I need to do for my sanity. I’m going to give it a couple of weeks (big deadline at work next week which I can’t, ok won’t, just sack off and drop everyone in it) and then decide how to proceed. +Curious to get everyone’s perspective on what financial milestones couples should accomplish before they consider having children. At what point would you consider a couple “financially stable” enough to start a family? +This may be our most ambitious crossover event... + +[ Dr. Susanne Trimbath AMA Transcription. Summaries, supporting materials, punctuation and memes brought to you by u\/Bye\_Triangle, u\/Luridess, u\/Leaglese & u\/Cuttingwater\_](https://preview.redd.it/c3zziltwmbw61.jpg?width=1432&format=pjpg&auto=webp&s=557fd27d4f535f9214ce7ff6b10c05900b0d53dc) + +**I'm Brick and I do news, I come to you with SPECIAL REPORT** + +[u\/Bye\_Triangle](https://preview.redd.it/o1raj2noqbw61.jpg?width=1200&format=pjpg&auto=webp&s=c6a2d48257078b6c63e9d741c931090e6de6bd18) + +**First off, I would like to say a massive THANK YOU to Dr. T. It was out of the kindness of her heart and her passion for justice that she decided to come to speak with us,** ***for free,*** **I might add. Dr. T is a busy woman, so it is an honor that she spent even an hour of her time with us. I for one, am really hoping that we get the opportunity to speak with her again because that was probably our most insightful AMA yet!** +**The following is the transcribed conversation between** u/atobitt **and Dr.T, accompanying it are summaries that break down the sections into more digestible pieces.** [**The video of the stream is also available on the r/superstonk official youtube channel if you cannot read.**](https://www.youtube.com/watch?v=fGVY2Kco8ng&ab_channel=Superstonk) **Thank you for being such behaved Apes while Dr.T was here, you are amazing. 💎💙** + +**\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_** + +**INTRODUCTION** + +[ Kenny G trying to short our AMA less than 2 minutes in. 😂 credit: u\/stellarEVH ](https://preview.redd.it/mnvgpiiymbw61.jpg?width=936&format=pjpg&auto=webp&s=2c686294c302e62a45916e6940b2a968fb822c58) + +* Atobitt: + * Thank you everyone for joining us, this is our first r/Superstonk live AMA. AMA stands for Ask Me Anything + * I’m here today with Dr. Susanne Trimbath, the author of several books, including what we’ll be covering today, [Naked, Short and Greedy: Wallstreet’s Failure to Deliver](https://www.amazon.ca/Naked-Short-Greedy-Streets-Failure/dp/1910151343) + * **May I call you Dr. T?** +* Dr. T: + * Yes, please. +* Atobitt: + * Great. How are you doing? Are you ready for this? +* Dr. T: + * Yes, I’m all set. I’m very excited. +* Atobitt: + * I feel like we are going to finally get this out. Finally get this in front of people that, honestly, keep asking “What’s going on?” and you’re here to provide answers. + * Would you go ahead and walk through a brief intro of your background and expertise? +* Dr. T: + * Pretty much all my career has been in finance. I knew from an early age I wanted to study money, basically, and how money works. + * I’ve worked with insurance companies, federal reserve banks, stock exchanges, clearing, settlement - that was my career through the time that I went to grad school in 1994 which is when I left the DTC in New York. + * Did my PhD in economics at New York University and then went to the Milken Institute (Santa Monica, CA) where I did Capital Markets research for a couple of years before going out on my own. I then did independent research in finance and economics since 2003. + * I do want to say that I’ve probably *forgotten* more than what most people will ever know about back-office operations and all the post-trade stuff. + * I also worked in Russia to help them build trade clearing settlement systems when they shifted from communism to capitalism. + * My expertise is post-trade, not trading or trading operations. + * But there are a lot of other people with more expertise who can answer questions about hedge funds, dark pools, trading strategies, that kind of thing. That’s not what I really know most about. I’ve taken an investment class in college, so I know enough about it. **My expertise mostly lies in everything that happens backstage at Wall Street.** + +**TL:DR 🦍 Summary:** Dr. T has experience across a wide spectrum of the financial markets, including knowledge globally. More specifically, her expertise lies in everything + +that happens “backstage at Wall Street”. + +* Link to Dr. T’s Full Bio: [https://www.gminsight.com/bio-susanne-trimbath](https://www.gminsight.com/bio-susanne-trimbath) + +**\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_** + +**HOUSE OF CARDS / THE EVERYTHING SHORT** + +* Atobitt: + * And that’s what’s so incredible about having you on here because a lot of people are just trying to figure out and get a look inside the DTC. + * We’ve been talking and posting about what’s going on, but having you here to actually help us explain that and to dive into the follow-up to [House of Cards](https://www.reddit.com/r/Superstonk/comments/mvk5dv/a_house_of_cards_part_1/?utm_source=share&utm_medium=web2x&context=3), which you generously spent time reviewing, as well as [The Everything Short](https://www.reddit.com/r/GME/comments/mgucv2/the_everything_short/?utm_source=share&utm_medium=web2x&context=3). + * **A lot of people want to know, just high-level: How close were we? Are we trying to shout the same message?** +* Dr. T + * HoC is a lot more of what I know + * Everything Short - there’s a lot of stuff in there that I’m not as experienced with. I offered you some comments on that, but I don’t think I can be as helpful there. + * On HoC, some things you caught on to. + * For example: + * DTC rule changes about not allowing issuers to say “I don’t want to be in the depository”. + * Most people would have missed that because that really came about as a result of one issuer telling their shareholders to pull their certificates out of the system + * So rather than leaving their shares with their broker, to get them registered in their own name. + * That had been done on a small scale before. + * But for this issuer, a lot of people/investors were organized, and pretty much everything came out. + * At that point, the DTC said issuers can’t request this. + * Now, an individual can still ask to have their shares registered in their name. + * Gamestop has a direct stock purchase program where you can buy your shares directly from them, I think the minimum purchase is $25 for a one-time buy. + * So you can still do it, but finding that example in HoC showed me: + * **you’ve done a lot of background research;** + * **you came up with a lot of things people missed** + * There were a few problems with HoC in there. + * The big problem for me is when you said Cede & Co is a company. + * In fact, Cede & Co is a **nominee name**. Think of a Trustee/Custodian relationship. + * All banks/brokers have a nominee name they use for securities registration. + * Any shares registered with a nominee name signals to the issuer that those stocks are not held for the company, that they’re actually held for someone else. + * Trivia about Cede & Co. name origin: + * short form of **‘Central depository’** + * They started out as a department at the NYSE + * And when they needed to get a nominee name to hold securities for trade settlement, they used Cede & Co. +* Atobitt: + * Thank you for clearing that up and for the compliment. + * I heard some theories from others but your version is like hearing the Gospel because it’s coming from a credible source. +* Dr. T: + * Yes, “Central” because that’s where all of the NYSE members could deposit shares/certificates there + * And Cede & Co would hold it for them so they could use it for trade settlement because in the late 1960s there was a paperwork crisis on Wall Street. + * They couldn’t get shares transferred or re-registered from one name to the next when you sold securities, in time for the two-week settlement cycle. + * So imagine as you’re trying to go from T+5, T+3, T+2, how difficult it became. + +**TL:DR 🦍 Summary:** + +* Cede & Co is a nominee name, banks and brokers have custodians they use for securities registration, any shares registered with a nominee signals the stocks are being held for someone else. +* Cede & co came about owing to a paper crisis as trades increased, and they became the nominee to hold a majority of securities. + +**\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_** + +**THE BIG ISSUES** + +* Atobitt + * I know you’ve drilled in a couple of really big points in your book about your personal feedback on some T+10 settlements + * Our main focus: + * There are these shares that are just kind of floating around, being borrowed and being lent and lent again. It creates this problem where nobody knows exactly what is going on or who owns what. + * We just know there are more shares out there than the company originally issued + * **In a perfect world, how would a naked short sale be held in account/ kept accountable? How would that go in a perfect world?** +* Dr. T: + * **In a perfect world there would be no naked short selling. PERIOD.** That’s really an exception. In most Market Maker underwriting agreements, there’s a little clause where the issuer agrees that the underwriter in the remarking agents can in fact sometimes sell more shares than they actually have in order to keep the market flowing, in order to meet demand. + * In a perfect world, if I was an issuer I wouldn’t agree to that + * **In a typical short sell situation:** + * The retail customer puts in an order to short sell the stock. + * The broker finds somewhere to borrow it so they can make delivery. + * They either pre-borrow or borrow at least within 2 days of executing the trade. + * Borrowed shares are then delivered to the buyer, who then gets all the rights, including dividends and voting rights +* Atobitt: + * So the rights are being transferred right along with the shares that are being borrowed and that shares may be borrowed multiple times, correct? +* Dr. T: + * It can, it’s not supposed to be, but it certainly can be. Because the buyer often doesn’t know they are getting a borrowed share-- right? + * There was a time, in the 70s, when broker friends, of mine would tell me they would not accept borrowed shares at settlement, because of the chance that they were borrowing a borrowed share. Basically, they would not be the buyer in a short sale. + * This is where it starts to get into the ‘not-so-perfect world’ +* Atobitt: + * The perfect segue! +* Dr. T: + * In a not-so-perfect world… the short seller, even one who borrows, may or may not “mark the trade”. I say “mark the trade” that's old school. You actually used to have a piece of paper, you would write short on that piece of paper and say “I’m sell 100 shares of something-or-other +* Atobitt: + * Are there the short sale indicators that we are seeing on FINRA reports? Ex - “Failure to mark as short sale..” +* Dr. T: + * Yeah, yeah, it used to be that you’d actually write it on paper and now it's electronic, so there is something in there. So, If the short seller knew that buyers would not accept borrowed shares, they might in fact *“forget”* to mark it short*,* right? + * So there is no record of a short sell anywhere, not at the exchange level, and certainly not… there is no indication to the buyer that they are going to be receiving borrowed shares. +* Atobitt: + * Really quick, there, so I can understand; That is, in essence, a way for them to say “Okay, The system wouldn’t typically allow for someone to take a share that’s marked as short or marked as borrowed, and by excluding that, it doesn’t give the indicator and allows it to go through the system.“ +* Dr. T: + * Right… the buyer is the one who wouldn’t allow it. It’s not that the system doesn’t allow it. +* Atobitt: + * But the buyer doesn’t know the difference? +* Dr. T: + * The buyer doesn’t know the difference. But, at the brokerage level, broker to broker, \[the short sellers\] know when they put that trade together, that they are selling short. If they don’t turn on the indicator, that's where the violations come in. Especially, post Regsho, in the ‘04 period. That became a MAJOR issue, because the number of shares circulating was so much greater than the short sales. + + * So that’s one problem that occurs, the other one is that; you mark the sale short and you ***pinky-promise*** that you’re gonna deliver the shares… but then you... “Forgot” to borrow them, Didn’t borrow them, thought you could get them but then you couldn't get them, and maybe someone promised they’d lend them to you and then at the last moment they didn’t. + + * So that's another problem that occurs, right? Even if you marked it short, you may or may not be able to get the borrowed shares to deliver. + +**TL:DR 🦍 Summary:** + +* **In a perfect world, there'd be no naked short selling.** +* In underwriting agreements, **MM or agents can sell** ***more*** **shares than they have** to **meet market demand**. When a share is borrowed, the rights of the share borrowed are also distributed with it +* Brokers can know whether something purchased is borrowed if it is marked, but often **direct buyers (retail) don’t know that they are buying short, borrowed shares.** +* There have been m**any cases of violations of brokers 'forgetting' to mark shares as short** just so they can open the short position, even if this later has a high likelihood of becoming FTD because shares without this designation are more likely to be bought by brokers. + +**\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_** + +**BYRNE AND OVERSTOCK** + +* Atobitt: + * So on that point, I think it's a great time to segue into-- You spent a lot of time in your book, talking about Patrick Byrne and Overstock. +* Dr. T: + * Yeah +* Atobitt: + * I think it speaks volumes… you were using words that I think were *very* generous, like “accidentally” or “*may not* have”, or “we left out something that we should have covered by sorry we forgot” + * Would you mind giving us an overview of what happened with Patrick and Overstock? +* Dr. T: + * Yeah, so that was really interesting… Patrick was very active, this crusader-- self-declared crusader against naked short selling. + * So there is this group called the **North American Securities Administrators Association (**[**NASAA**](https://www.nasaa.org/)**).** Every state has a securities admin, someone who takes care of the rules in their organization. + * Well, I may get some dates and names wrong.. + * This whole thing was coming out, companies and investors were complaining at the state level regarding Naked Short Selling, stock loans, and all that. + * They called a panel discussion in Washington DC at the end of 2005. I was one of the people on that panel. + * I didn’t know Patrick at the time but knew that there were people like him, investors and CEOs of companies, in the audience. I stunned them by presenting a report from the Securities Transfer Association that indicated that **of the 285 proxy vote cases examined** (votes at corporate annual meetings of shareholders), **all 285 have over-votes** + * **Over-vote is when there are more votes than shares available** + * And this happened in all cases, sometimes by a large amount + * To be clear, the problem is a little better now, **only 85% of the test cases** had over-votes but it’s far from fixed. + * So, they were really shocked… + * I put out a challenge to all the CEO’s in the audience, and I said: After this seminar **buy 10k shares of your own company** and at that time, three days later the broker is going to take money out of your account and will tell you that you have your shares. + * But go ask them if you actually received your shares. Now, if **you or I went to a retail broker and asked that question, they would say “yes, it’s right here in your account”** + * But if you’re a purchasing power or a corporate CEO, you have tighter connections and they will really dig into it to make sure. + * Eventually, **his broker confirmed to him that he did not get the shares** and that multiple attempts to purchase the shares to replace what he didn’t get failed. **There were simply not shares available to meet his purchase.** +* Atobitt: + * You’re talking $50 million worth of shares +* Dr. T: + * They’re happy to keep his money, but t**hey knew they didn’t have the shares for him.** + * But **it took him two months**, as CEO of the company that he’s trying to buy shares from, took him **two months** to get his shares + * It’s a prime example of how **retail brokers don’t know what’s going backstage**. Retail brokers know what’s going on in front of them, on the record, but not what’s going on backstage behind the scenes. + * This got a lot of attention. + * Bob Drummond from Bloomberg Magazine wrote a multi-page article called [**The Proxy Voting Charade**](https://web.archive.org/web/20060421085925/http://www.rgm.com/articles/FalseProxies.pdf)**,** which was inspired by his attendance at that meeting in 2005 where I was a panelist, where there are people voting as shareholders in matters of corporate governance which are so important, and yet their votes aren’t counted because there are too many votes coming in +* Atobitt: + * Exactly and we’re actually dealing with that right now with Gamestop - dealing with the proxy voting and Gamestop + * And tying that back in there, we had a volume chart - before we got into the peak here before the run-up we were having upwards of 180 million shares traded per day + * 197 million was the peak there - we’re talking about circulating the same stock four times +* Dr. T: + * In one day, their entire capital - so that number of shares outstanding, that’s their capital statement, that’s on their balance sheet, that’s what they report to the Secretary of State in the state where they’re incorporated about what their capitalization is like + * And in 1 day… that’s crazy +* Atobitt + * That’s incredible, a really good point. + +**TL:DR 🦍 Summary:** + +* This problem of naked shorting, and by extension, overvoting is not restricted to GME at all, in fact, it appears to be a major issue industry-wide. +* Even the CEO of the company Overstock, purchasing their own stock, couldn't have their broker find the actual shares purchased, it took 2 months before they did. +* The fact GME traded nearly 4x its float in 1 day is insane. + +**\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_** + +**ETG LAWSUIT AND NAKED SHORTS** + +* Atobitt: + * And just a couple of other points on top of that: + * That wasn’t the only lawsuit that we’re talking about here as well + * In addition to Patrick, in 2006 lawsuits were filed against 11 prime brokers for allegedly doing the same thing, and according to your book, they were conspiring to do this. +* Dr. T: + * ETG filed a lawsuit think it was settled out of court + * I don’t think there’s any public information about the resolution + * This is a really important point though because we want to talk about 65 million shares that the company issued and yet 180-210 million shares outstanding + * ETG’s complaint: + * their financial model was for shorting a particular stock included the fact that the shares were borrowed and would eventually have to close the short and replace them + * if the prime brokers were giving their funds/trade orders to a group, and that group is not borrowing the shares to deliver, then that ruins their financial model +* Atobitt + * Can you segue from this into the Triumvirate Trouble, because I feel like that’s kind of what you’re touching on here? + * So it’s not just the naked short selling, but we have these other additional factors - can you please elaborate on that? +* Dr. T + * **the triumvirate of trouble is:** + * **shorts (naked or otherwise);** + * **FTDs; and** + * **loans** + * even shorts covered by a borrowed share will increase the number of shares in circulation + * While that share is out on loan, there are actually two people claiming ownership, but only one person owns it and the other “kind of" owns it, like they have a marker and then eventually the shares will be delivered back to them and they’ll have their ownership right” + * **So even a short covered by a loan is a problem** + * And when you throw in fails to deliver, which means that long or short, you just don’t show up at settlement with shares, all of those add to the increase in “the Denominator” + * I don’t want to get too “math-y” on you but I noticed some highly educated and technical persons in your audience: so the denominator in the financial ratios is shares outstanding + * ½ is bigger than ⅓ + * So as you increase the denominator you decrease the values + * That just throws all the financial ratios out the window +* Atobitt + * High level - are the incentives for these companies to Fail to Deliver instead of just covering their shorts like they’re supposed to? +* Dr. T: + * that's a trade type question, but what I can say is up until recently there was no penalty for FTD + * It was only recently that the NSCC and others have started to put in penalties: there is flat fee penalty, per dollar penalty, daily interest penalties + * There was a paper done in the early 2000s by a researcher at the SEC that talked about **strategic fails to deliver**, i.e. they give me money and I give you nothing and I pay a little fee to whomever I failed to deliver to, in the meantime, I have your money so, for two months, Patrick’s broker had use of his money that they could use freely do to as they wish for their own benefit and interest - free available capital + * this is incentive enough, having the cash of someone else, it's only a little fine you have to pay and they can earn enough to make the cash back and more so that it's worthwhile to pay the fine + +**TL:DR 🦍 Summary:** + +* ETG filed a lawsuit that was settled outside of Court to keep things hush-hush, but it was based on their shares outstanding vastly exceeding their float. +* You will likely never hear publicly about successful cases if settled. +* Penalties have only recently been introduced for FTDs. +* What's the incentive for them? Money. It's always money. +* Before, they would take someone's cash via FTDs, to then make more cash and only get a slap on the wrist for doing so. + +**\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_** + +**DTC COMPLAINT PROCESS** + +* Atobitt + * Let’s segway into DTC oversight incompetence and their involvement + * What did the DTC do when complaints were received? + * Can you walk through how that management info system kept track of these issues? +* Dr. T + * I worked in troubleshooting in DTC, dealt with all the operational-- everything that didn’t balance in operations + * We’d send something to a transfer agent to have it re-registered in Cede & Co’s name, from Merryl Lynch or whatever, and a month later it hasn’t come back yet + * So that item appears on a list for the supervisors in the morning + * There’s a similar activity in the vault - for example, they get a break list every morning, and it says “this is what is on the shelf and this is what we’re supposed to have" + * In other words, this is what the system says is on the shelf vs this is what we’re supposed to have, and we need to figure out why there is a different settlement amount between the two numbers. + * The only one who doesn’t get this list is money, because on the money side if you don’t deliver your money by 4 pm someone’s on the phone calling you to get your money in, so that’s a whole different issue. + * In this scenario, we’re just talking about shares on the lists + * So those lists, and I know from my work in troubleshooting those lists… Those lists are sorted by VALUE. + * So we have aged fails, aged transfers, and they always come out by value and you always hit the big value items first + * u/StonkU2 **and I spoke about this as well: as the brokers continue to short, or naked short a stock, they continue selling more than buying to push the price down, and as they push the price down they can in fact keep dropping that item further down on the priority list for investigation at the DTCC because now it has a lower value** + +**TL:DR 🦍 Summary:** + +* DTC has a list of issues to rectify sorted by value alone. +* By driving the price down, the short seller not only drives the price to the ground and makes money, but because investigations are dealt with on a value basis by the DTC, the further the price goes down, so does the priority level of the issue, in the DTC’s books. +* *\* Editor’s note: Mind-blowing.* + +**\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_** + +**NAKED SHORT ENDGAME** + +* Atobitt + * So, you’re intentionally lowering and reducing the priority of a stock. +* Dr. T + * And I think a related question came up in the AMA that I read. + * I can’t remember who it was from but it was along the lines of “what happens when the company goes out” right? + * So the End Game in naked shorting is that you **deny the issuer access to capital by pushing down the stock price**, so the only way they can raise capital was if they come out and issue new stock, so now you’re getting bigger and bigger shares of equity for less and less money + * So if your stock price is up that’s when you want to issue more equity because you’re getting the interest and capital +* Atobitt + * Gamestop is taking advantage of that right now too -market price is high, it’s a good time to make some cash +* Dr. T: + * That’s the time to do it because if they need capital if they want to raise capital, that’s the way to do it + * By pushing the stock price down they are denying the issuer access to capital if the capital is really important -for example if you don’t have money to expand your business, buy new equipment, capital purchases, eventually, they can drive the company out of business + * Once they do that, then all of the fails, shorts, loans-- everything is erased because the stock’s declared worthless + * Technically, if you can’t get a share transferred, re-registered from one name to another for two years then the DTC can declare the stock worthless + * At that point, they just archive the records and shred the certificates + * One of the AMA questions that came up is related to this - **there’s so much damage done,** not just to the investors-- of course the investors suffer +* Atobitt + * Would you say about 7500 companies have been put in a coffin because of activity like this? +* Dr T: + * It’s hard to say. +* Atobitt: + * I just remember something similar to that in the book + * It’s just mind-blowing that this is that systematic. +* Dr. T: + * There are companies that get started, fail, and go out of business. That does happen, so DTC has a procedure to do this + * But the idea of it - it’s just very official + * If you can’t make a transfer in two years, it’s worthless, your broker shreds the certificates, and then that’s the end game for that asset grab in particular. + +**TL:DR 🦍 Summary:** + +* Driving a stock price down restricts the availability of capital, which in turn assists in running the company out of existence as they can't issue to generate capital. +* The ultimate goal of naked short sellers is to make the company worthless, at that point, every action they’ve taken to manipulate the stock price and hinder the DTC investigating disappears into shredders and archives. BRRRR. + +**\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_** + +**FTD’S, BANKS, SEC EXAMINERS** + +* Atobitt + * Yeah… I mean that story to me, about having the option, in audit, and all these internal controls, where do you have the incentive/opportunity to cheat the system? *that is a red flag* on top of some of these points that you have. + * In 2008 the banks that were the source of these FTDs began to see their *own* shares FTD and so to protect them the SEC stepped in **and stopped short sales against these securities but JUST the securities of those banks**. +* Dr. T + * Exactly, and that was the ?? went to congress and said they’re “Help me help me they’re shorting my company now!” but, they’re the perpetrators! +* Atobitt + * It just sounds way too familiar with what happened with Robinhood not too long ago. +* Dr. T + * And then on the other side of that coin is that, and I do need to mention this, in Europe and Asia when they stopped naked short selling they stopped it in *all* the stocks it wasn’t just the banks in the US they only protected the banks. + * That’s a really big red flag, why stop it just for the banks when they were the ones causing most of it? + +**TL:DR 🦍 Summary:** + +* Evidence and history have shown that the SEC will step in to help the FTDs of the *banks*, but they historically will **not** help other stocks such as GME. +* The evidence is that the SEC prevented naked short selling of the **bank** stocks and **no one else’s**; whereas in Europe and Asia they protected *all* stocks from naked short selling. + +**\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_** + +* Atobitt +* And so when a lot of these SEC examiners would come over to the DTC, people that are behind the scenes and outside of this we have this impression that these people are being parented. Like mom and dad are making sure the kids aren’t breaking the law, but when they would come and see you, generally the first question out of their mouth was? +* Dr. T + * What does DTC do? +* Atobitt + * What does the DTC even do? And when you mention another point in here “it is easier to pass a FINRA exam in order to become a broker than it is to get your *barber’s license*.” +* Dr. T + * In most states, yeah. Yeah. +* Atobitt + * That is just *mind-blowing* to me. +* Dr. T + * It’s not that difficult to do. A lot of times a lot of people will get hired and trained on the job *whilst* they are passing their series 7 license. + * So it’s not, look they just have to know some fundamentals there are things like a certified financial analyst right, CFAs (*Atobitt agrees*) right because that’s an official designation beyond I understand the mechanics of stock trading, it’s I know something about financial analysis behind it. +* Atobitt + * And to that point you were, I think you said 73% of the exam was basically them telling people which stocks to invest in as opposed to what the process of this is, it was like advising almost in that exam. +* Dr. T + * Yeah and that FINRA exam there’s, you can see some of the questions and sample questions, you know it’s pretty ‘accessible’ +* Atobitt + * \*sigh\* unreal. So to kind of group this in, I feel this is a good time to bring this in, what we’ve done is taken a list of questions that were pertinent to this conversation and I’ve grouped them into about 20 relevant questions like FTDs or regulation or compliance and oversight and as we’re having this conversation I’m trickling these questions in. + * And then afterward when we post the follow up which will be posted after this these people will be able to see these questions and shout those people out but we had a lot of questions on this with the regulation and I think a lot of people don’t know that these people are SROs, Self Regulatory Organisations and they don’t fall under the realm of things like the Dodd-Frank and some other regulatory acts + * So, it is just overwhelming the things you have put in your book to address this, like the triumvirate of trouble but how this is allowed to be this pervasive and the system actually *allows these people to* fail to deliver which is something, as you mentioned, we need to raise the pitchforks about. + +[u\/mortz232 Pitchfork Army is here ](https://preview.redd.it/5mg0z9k4qbw61.jpg?width=1156&format=pjpg&auto=webp&s=6f8bbe7bd0b7b19f1f4ef17dc1e796a86bde5d62) + +**TL:DR 🦍 Summary:** + +* Historically SEC examiners would approach the DTC and just ask, what do you do? (these are supposed to be professional examiners keeping brokers in check) +* Dr. T then clarifies a lot of these people (brokers) ‘learn on the fly’ and the qualifications they hold are less difficult to obtain than *a barber’s license in most states* +* The fundamental understanding of brokers is therefore suspect + +**\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_** + +**COMMUNITY QUESTIONS** + +* Dr. T + * Yeah, the pitchfork moment you have to find that point where you say enough is enough and I really need to do something. + * Um, there was a question from, I just need to go back (*go for it! Ato*) + * I don’t really speak emoji \*laughs\* Is it auto-bit? Right? I don’t know how to pronounce your handle I’m sorry +* Atobitt + * You’re not the first! It’s fine! +* Dr. T + * u/HappySheeple3 asked the question what can you do? I had a similar question from Rower like what can we do and so I need to go back and it was [**NASAA.org**](https://www.nasaa.org/) + * They put together that, a panel discussion in Washington where you know a lot of conversations took place like Overstock and NYSE was there and they had to admit some of the things they did on the proxy **so** [**NASAA.org**](https://www.nasaa.org/) **they have a button at the top of their homepage that says contact your state securities administrator right, so they are the people who are the most interested in the complaints you have about corporate governance, and what’s happening to the company in the state where you are so I did want to mention that** + * And then just on the voting itself what do you do? Like you said right now GME is in proxy season? And then there’s the story about Overstock in the book as well like what happened at their annual meeting when they got more votes in and they knew for a fact that members of Patricks’ family did not receive their proxies and so were unable to vote + * There’s a guy/website inspectors-of-election.com +* Atobitt + * We’ll link this down below +* Dr. T + * Yeah, you can, the company has to do this, the investors don’t, the company hires an inspector of elections, so like Carl Hagberg, For example, who will actually go in and try to figure out like what if you get, in my view and this is Carls’ view as well and he is much more experienced on that side of the business than I am, if you’re an issuer and you got more votes in than you have shares outstanding you should **not accept** those elections results, you should stop and get this thing straightened out + * This will help to reveal evidence if there *is* naked shorting, FTDs can be revealed like that is, there are few things that bubble up there is a lot about FTD and naked shorting that you will never find about public information. +* Atobitt + * *Intentionally* I’m arguing, intentionally too +* Dr. T + * Yes, and even *issuers* have a hard time finding out exactly what is going on with *their own stock,* this is a **long-term** problem. But there a few things which bubble up and one of them is during the annual meeting when it comes to voting + * Now after we raised this issue in 2005 there was Broadbridge, who processes a lot of this electronically, put in a service to the brokers, they can pay that if they report more shares to be voted, **THAN** they have held at DTC, then Broadbridge will tell them to ‘fix it’ *before* they tell the issuer + * And that is probably how 15% of the overvotes down, right, so they went from 100% of the test cases (Leaglese edit: being over-voted) to only 85% of the test cases, because Broadbridge will tell DTC, of the 1,000,000 million shares, 100,000 are held by Goldman, Merryl etc. So Broadbridge goes to Goldman and says you have 100,000, who does the vote go to? + * Goldman then says we have 200,000 or 150,000, Broadbridge will say sorry, you only have 100,000 so you need to fix this. Goldman then has a system where they have retail investors, within their accounts that they have more shares than actually existed. +* Atobitt + * Gamestop is bouncing between 100-200%, institutional ownership is over 100% +* Dr. T + * A really important point is the institutions have to get up in arms about this, proxy voting charade, Bloomberg magazine has a lot of details about how anybody wants to understand that issue in more detail + +**TL:DR 🦍 Summary:** + +* Actionable steps that could be taken include, visiting [https://www.nasaa.org/](https://www.nasaa.org/) and contacting their local securities administrator as *they* will pay attention, as her friend Patrick did. These are the people that want to know about this stuff. +* Dr. T’s position is that overvoting is a huge problem, and it is ***not*** solely confined to stocks such as GME. In fact, even now 85% of stocks are over-voted and that’s because of the influence of a company who deals in trying to fix it, before, 100% of stocks in 200+ test cases were regularly overvoted. +* Where a stock is over-voted, this provides *proof* the stock is naked short sold and/or has a high number of FTDs. A problem prevalent throughout the industry. + +**\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_** + +**AUDIOBOOK - NAKED, SHORT, AND GREEDY** + +* Atobitt + * By the way, you have a huge demand for an audiobook right now too. Maybe we can talk a bit more about that offline? +* Dr. T + * So, I just wanted to say I have talked with the publisher and he is in London so he is, in contact with the Royal National Institute for the Blind, and that’s not an audible book, for commercial purposes, but we are trying to make it available for those who are sight-impaired +* Atobitt + * You heard it here first, so got that in the works, that is incredible, that is excellent + * Would you mind if we went ahead and transitioned into looking at the evidence? So we’re trying to lay out the groundwork of what has happened here we have these shares that are just rehypothecated to oblivion. + * We have the DTC that is not really… doing a whole lot to kind of, or any sort of agency that is in charge of, they’re more incentivized to keep the problem going and we’re trying to blow the lid off of it but looking at the evidence going forward I am going to be writing a lot of the stuff we talk about here in HOC 2. + * You mentioned a bunch of stuff in the book about a bunch of these numbers that I’d like to go over at a high level and we can discuss what the implications of some of those might be. + +**TL:DR 🦍 Summary:** + +* Dr. T and Atobitt think it is a great idea to make this information available to apes who are sight-impaired, and the mods of r/Superstonk think so too. +* Ato prepares to dig into the evidence to support the position. + +\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ + +See part two here (too many characters for one post): + +Part two includes: + +\-**THE EVIDENCE** + +\- **GET OUT OF JAIL FREE** + +\- **PUTTING THE** ***FAIL*** **IN FAILURE TO DELIVER** + +\- **NEW RULES, AND HOW WE MAKE A DIFFERENCE** +\- **HOW THE EURO-APES SAVE THE DAY** + +\- **FOR NOW, IT’S GOODBYE** + +\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ +For the most part, alts are down. Some, however, are up. A handful of recent ones (such as Raiden) are substantially up. + +**At the time of writing:** Raiden is up 3.55x vs USD, 3.27x vs ETH, and 3.18x vs BTC. + +This isn't a "low market cap, low volume" pop either. We're talking about serious volume, serious market cap. (~$117m Market Cap, $5m+ 24 Hour Volume) + +**Context:** I've spent the last 11 years as a technical analyst for a major investment bank. My expertise is on micro cap stocks ($50-$300m market cap). I'll be the first to say... crypto is a new world, many of the old rules do not apply. That said, some of the underlying fundamentals are obvious and **definitely** still apply. The factors behind the Raiden pop is especially obvious. + +**Disclaimer:** This is a purely technical analysis. I have no opinion on the long term view of the project. I am simply analyzing the market fundamentals that contributed to the pop. + +##Here are the primary principles that contributed to the pop, I'll analyze why these occurred below. +* **Large Institutional Holders:** In my view, this is the single most important metric for whether or not a coin is going to pop. (It doesn't matter if the institutions buy in on the ICO or the exchange). Large holders mean that a sizable number of buyers are holding long term, which decreases the amount that is available for sale. It also means that very large buy orders on the exchange make the price rise very quickly, and stay there. They are less likely to sell due to short term news, and they insulate the price floor since they typically place buy orders slightly under market. +* **Post ICO Interest from retail investors:** Will everyday people continue to buy on the exchange after the ICO? + +## So, why did this happen. How can you predict this in upcoming ICO's? + +*(Note, Some of these factors are shortsighted. BUT this is how institutions think. My wall street friends bought into Raiden (and other ICO's) for the factors below* + +**Understanding if Institutional investors will buy:** + +* **Team** - What are the credentials of the team? Did they come from a top university? Have they sold a company before? What is their track record in the space? Are they transparent? Have they raised venture capital before? Can you read press about them online? Have they done speaking gigs? When you're giving someone money, you want to make sure they have their reputation on the line. If the above signals hold true, then it's less likely they'll act foolishly with the funds. + +* **Market Size** - Is this something that, if successful, will have a large market size. Most large scale investors would rather a 5% chance of 100x growth than a 50% chance of 5x. They have a diversified portfolio, so they don't care if they lose. When they win, they want to win big. + +* **Traction** - Does the project have a product? If not, does the project have actual customers lined up? Have those customers publicly spoke on behalf of the product? + +**Understanding if retail investors will buy:** + +* **Idea** - Is this something that resonates with an individual. Is this something people want to exist? No matter who you talk to, people buy stock (and ICO's) that they can resonate with the use case. This is actually one of the most important analysis when determining the number of retail investors a traditional IPO will have. + +* **Protocol Level** - People in Ethereum like to back protocols, not companies. Raiden is working on a protocol level solution for ALL of Ethereum. Unless a project solves a protocol level solution for the real world. This is about as big as it gets. More retail investors = more word of mouth spreading after ICO, more holders, faster price rise. + +* **Exchange Demand** - Are people saying they'll wait to "buy on the exchange?" This actually gives a tipping point to larger caps. Many people think caps over "$10m" just "won't fill". Some don't. Some do. But the larger cap ICO's have tons of people "waiting to buy when it hits the exchange. If you can find a large cap that WILL fill, you've found a goldmine. + +* **Presale** - In the wake of Salt and other ICO's that sold too much during presale, did the ICO have a presale? If it did, fine, but are those investors locked up? Is the amount raised presale disclosed prior the public sale? What was the discount? Is it small? Were the investors limited to value added investors only? If, and only if, ALL of these things are true, presales are fine. If any of them are not true, be weary of the project. + +**Here's things that matter, but matter less than the above:** + +* **Small Cap** - I know this is a highly highly contentious point. These days, everyone want's small caps. People want small caps so they'll "pop" on exchanges. Unfortunately, we are past this. If you go look at the ICO's that have performed the best since ICO, many of them DID NOT hit their cap. (Example: District0x. Raised only 20% of their $50m, cap, up 2x since ICO) +* **Macro Market** - Right now, alts are down. The market doesn't like ICO's... But look at Raiden, it's one of the biggest pops, and it's not a great time for ICO's. + +## So, who is next? Why? + +* **[Blockstack](https://blockstack.org/):** Going through CoinList, VC's have already invested. Tons of funds already in. Big vision. Large number of long term holders. Solid founders. **ICO:** Tomorrow +* **[Bloom](http://hellobloom.io):** Founders raised VC before. Founders are: Stanford, Thiel fellows, YC. Equifax hack. Actual tech. Joey Krug is advising. Accepting US means easy to fill cap. Global appeal. Community Whitelist. **ICO:** November 30th +* **[Props](https://propsproject.com):** YouNow has a ton of institutions backing them. Great set of advisors. Product has a ton of mainstream appeal. Gets support of a big company. **ICO:** November 20th +* **[Orchid](https://orchidprotocol.com/):** A16Z and DFJ backing, Huge space. Big mainstream appeal. Polychain, Metastable. Raised $4.7m already. **ICO:** TBD + +**Tl;dr:** Look for an ICO that will have institutions buying in. You can generally tell if the founders map the stereotypical founder than investor in Silicon Valley/Wall Street would want to back. Look for ICO's that solve protocol level solutions. Look for ICO's that are transparent. Be very skeptical of the presale. Focus more on the idea/team, less on the cap. + +*Edit 1: Disclaimer:* Raiden is the first (and only) ICO I have invested in to date. I am a very large holder for the reasons listed above. I do not have an opinion either way on if it will continue to rise. I am also well aware that some of the advice in this post goes against the "standard" crypto advice that's been circulating in this thread. I still stand behind everything above. + +*Edit 2: Added my suggestions since people keep asking for them* +I put "inherit" in quotes because my parents are not actually dying yet, but at the age where they want to start to get more help managing the portfolio of assets. They have done amazingly over the decades, but recently got stung by the market volatility, so now they are looking for the younger generation to contribute ideas and strategy, with the eye of turning it over completely over the next decade. + +It's a lot of responsibility for my sister and I. We both have good experience in business, I sold my first business in my early 30s and earned high single digit millions, but put most of it in my current business and a portfolio of income properties which are professionally managed, and put some in stocks and some savings. + +Our goals are to keep this pool for many generations, so that our dependents will never have to worry about the basics of their life, like buying a home or paying for school. Our family has worked hard for this, and we don't want to just squander it or invest it in something high risk for the sake of earning a billion. We are not the kind of people that like private jets, but we do enjoy the finer aspects of life and have that stuff all figured out. I figure if we can make even a 5% return we can still access enough money than we will ever need. I am highly inspired by the way universities manage their endowments. All the legal and trust stuff has been sorted, so we are good on that. + +My questions are: + +\- How do people with this kind of money approach their investments? At the end of the day, we feel that the family needs to have a big picture oversight of the entire portfolio, but we don't have enough to open our own family office. Moreover, my sister and I are business people, but not finance people. So we are looking for an approach that is understandable and simple. + +\- Would UHNWIs actually buy a bogleheads style ETF portfolio? I have a stock portfolio of about US$2.5m which is mostly ETFs individual stocks, which I manage using a Modern Portfolio Theory method. Is Modern Portfolio Theory still the dominant methodology recommended by financial advisors? + +\- I've read a lot online, like the "All Weather" portfolio or the "Swansen" portfolio, which make sense, but they feel very "retail" to me. It seems crazy to me to put 50 million into VTI and a handful of other ETFs but it seems to be still a popular and viable idea. + +\- Do PBs offer any value except for ideas and research, trade execution and lending against assets? We have a few private bank accounts already and have spoke with some MFOs, but they seem very transactional and just bent on selling us structured products and growing their own AUM. + +\- Do hedge funds offer value? Ive invested in some in the past and they haven't done that well. I don't know if we have the kind of money to invest in the best hedge funds, and worry we will be stuck with the 90% that suck. + +\- Any good reading that you can suggest? I have read a lot of books on finance and trading over the years, but appreciate any recommendations. Currently reading Swensons Unconventional Success, as it was recommended by another HNWI friend, but looking to get more recs. + +Thanks for all your thoughts and feedback. +I'm in my early 30's and I've worked for about 10 years doing IT integration work for the federal government. I've built a lot of automated tools/scripts in that period to help me shorten integration times from months to days. I was the typical office drone collecting my paycheck and saving. Having grown up poor and seeing my parents struggle, saving was super easy. I was set to breeze into FIRE by mid 50's with something like $40k/year of spend. + +Then when things went into overdrive. Over the last 1-2 years, I launched a startup, monetizing my portfolio of tools. 10 years of work compressed into the one year. I now make about $1-1.5M with maybe 15-20 hours of "real" work a week. But this "success" is constantly challenging the principles and beliefs that I've held for the last 2 decades and it's confusing the fuck out of me. + +For example, this past weekend, I found myself still doing unit price comparisons on potato chips. While checking out, a part of me is wondering did I really just spend 15 minutes trying to save a dollar. + +My perspective of the value is distorted and no longer aligns with my circumstances. But at the same time, I am anxious about the startup imploding so my scarcity mindset continues to manifest. And it feels wrong knowing that the behavior is not warranted but I don't know what else to do? + +How do people coming from making $50k a year into $1M a year change their beliefs and principles? What if that $1M/year was not guaranteed and could easily turn back into $50k/year? Is a Big Mac still a Big Mac if you're making $50k? $100k? $200k? $500k? + +I'm lost and I'm hoping those who have walked a similar path can offer me some guiding principles or point me to good books/resources or even just share your stories. +If someone dies without any close relative and no legal heir, what would happen to his/her assets after her death? What would happen in case he/she has a term insurance? Who would get the payout or there would be no payout at all? +Wow. This is fucking mind blowing. A woman come on to talk about finances. She was talking about recent retail investors and reddit so she brought a analyst on. He talked about shorts and "that bullshit movie stock" Her name is Hillary Cramer. Odd. Cramer. And he basically went on to talk about what's happening with Gamestop and the others. He said "companies like GME have been labeled as meme stocks but they have grown beyond that. They aren't memes anymore." + +She continued to cut him off and talk about other "short squeezed" companys and kept saying it's all meme stocks. Even here the FUD is real. Keep fucking calling it a meme. I'll laugh to the bank with meme money...simulation confirmed + +Edit: wow. I cant believe this community. I brag to friends and people about how amazing yall are and they still fail to understand. This is a revolution. And guess what. It will not be televised. Love you all you fucking beautiful retards. +I'll be honest, when I was a beginner, I believed all the wild claims and "must buy 100x moonshots", until I found this sub. + +Now I look at all these videos and feel intense scorn for them. Especially bitboy crypto, who is making wild fucking claims like "btc drop to 17k", "cheapest altcoins to make you rich", "insane breakout to $300k". Thank god everyone in this sub says no one knows anything, I immediately got the message and massive FUD came in. + +&#x200B; + +https://preview.redd.it/1kcm5f6ybzo61.png?width=1143&format=png&auto=webp&s=45b7c1f8d36286386f37d2a6c62022785db25881 + +Literally, the two popular uploads in the same fucking page is "ETH to 0" and "Ethereum: Your Best Chance To Be A Millionaire in 2021". + +I know this sub has been talking about this a ton, a few top page posts saying what an unreliable source these guys are. But this guy yet continues to be racking up millions of views for pump and dumps on shitcoins he promotes and makes a fortune from manipulating the market from it, and clickbait videos on the youtube platform, and still have people revere him like some kind of god; we have to keep regularly exposing this guy and other Youtubers and drive them out of business. We will win the fight. +I'll be honest, when I was a beginner, I believed all the wild claims and "must buy 100x moonshots", until I found this sub. + +Now I look at all these videos and feel intense scorn for them. Especially bitboy crypto, who is making wild fucking claims like "btc drop to 17k", "cheapest altcoins to make you rich", "insane breakout to $300k". Thank god everyone in this sub says no one knows anything, I immediately got the message and massive FUD came in. + +&#x200B; + +https://preview.redd.it/1kcm5f6ybzo61.png?width=1143&format=png&auto=webp&s=45b7c1f8d36286386f37d2a6c62022785db25881 + +Literally, the two popular uploads in the same fucking page is "ETH to 0" and "Ethereum: Your Best Chance To Be A Millionaire in 2021". + +I know this sub has been talking about this a ton, a few top page posts saying what an unreliable source these guys are. But this guy yet continues to be racking up millions of views for pump and dumps on shitcoins he promotes and makes a fortune from manipulating the market from it, and clickbait videos on the youtube platform, and still have people revere him like some kind of god; we have to keep regularly exposing this guy and other Youtubers and drive them out of business. We will win the fight. +[https://thecryptocurator.wordpress.com/](https://thecryptocurator.wordpress.com/) + +I actually made the site a few weeks ago just to see if it would actually be something I used. As it turns out, I do! Am I biased? Maybe. But I just know it has been helpful for me so I thought someone else may like it. Whenever I am in my crypto\-news\-consuming mode, a significant portion of my time was typically spent going from site to site. This helps decrease that travel time, at least a little bit. if you like it, use it \- share it. if not, no worries! just thought maybe i wasn't the only one getting frustrated having to go so many places. + +Also, sorry if some of it is kind of plain \- i was fairly limited on what i could do in some areas because I am too cheap to pay for the upgraded wordpress packages lol. if there is a good news site or resource or podcast or something that I forgot, let me know and I'll do my best to get it on there! \(some websites make it tough though\). Also, I'm pretty new to making websites, so if there is a feature I should add, let me know that as well. + +happy investing everyone! + +\*I also posted this in another sub or two, sorry if you are seeing it twice! +I don't know if it's the values I've learned, or if it takes a certain person to be open to those values in the first place--but they are really making me rethink a relationship. + +A small vent--I met a guy who is 9k in credit card debt. I was sympathetic as he grew up in poverty, and for some reason thought I could help him. I'm a financial planner, so that is what I do for a living. Yet he still buys ridiculous things on Amazon. I told him he should try to limit his going out to eat to 1X a week (because I know that he wouldn't stop) and he thought that was ludicrous. He expects me to pay for dinners etc because he is in debt and I have a well paying job (yet he somehow has the funds to buy beer and amazon splurges). I've found jobs for him (He is still in college) but he 'doesn't like them' or 'doesn't want to wake up that early.' His mom pays his car payments after he bought a brand new, upper-end Mazda. The most ironic thing is he is adamant about sustainability and getting out of the clutches of consumerism. + +While he is on the extreme, have any of you ended a relationship because of the principles that go along with Financial Independence? To me, it's not just about money--but about personal responsibility, ignoring consumerism, self sufficiency, discipline and hard work--all of these things I take pride in. Someone who lacks the will power to make basic changes or who has so little pride that they continue on in their lifestyle that has thrown them into debt-slavery, or someone who refuses to take personal responsibility for their actions and choices loses my respect immediately. + +The nail in the coffin was when I showed him MMM "your debt is an emergency" and he claimed that he likes the premise, but the actual +application was "way more difficult than he claims." I do not believe it is that difficult to STOP SPENDING MONEY. + +It almost makes me feel guilty, because I immediately framed it as me caring more about finances than the individual-- but when I thought about it--again, it isn't about the money. I think that people who have the same values and principles I have will naturally lean towards frugality and a desire for independence. Yet my nature is to try and open people's eyes and help them come up with a plan. I guess I never really realized there are people that you cannot help. My job has people WANTING help, so this was a real eye opener for me. + +A good lesson learned: to keep my principles in tact requires a bit of selfishness. +I’m barely 19 and have made a series of very bad decisions over this past year, landing me in debt, pregnant, and without a job. I have gone to Planned Parenthood and have an appointment set for Friday, but the lady on the phone told me since I am so far along (17 weeks) it will be about $1900. I asked about a payment plan, and she said that will be possible but I have to pay $855 at the time of my appointment, which is just not possible for me. I just spent $1300 on repairing my car after it broke down, so I am really at a loss here. I haven’t had a job for a few months, however I start at a new one on the 13th. I will have about $650 by the time of the appointment, as my birthday was yesterday and my boyfriend’s dad agreed to help a little bit. Assistance from my parents is not going to happen. I’m at a loss here for what to do, I’m scared for my future and really do not want to have a baby because I know I’m not ready or healthy. For more information I live in Utah and my insurance will not cover abortions. +I've been buying ETF's but wanted to start buying some individual stocks. +Watching a Youtube channel that does 15-minute breakdowns of the fundamentals of a company: revenue growth, debt, free cash flow, etc. They go through the steps and at the end, say that based on "free cash flow x 20 years, this stock SHOULD be valued in this range", and almost every time the stock is now selling for twice that much. He then says, "you usually want to pay a premium if the company is going to grow fast..." but then points out that these big, mature companies (Home Depot/ Target/ Walmart for example) are not going to grow fast at this point. +For every company analysis I've watched, they conclude that " based on multiple of earnings value" and "discounted cash flow value", the stock SHOULD be selling for "this much", and it's way less than it currently is. + +I know the conventional advice is not for me to wait to buy in until the prices drop, so what is the answer? +My 15 year old daughter texted me about a call that she got that creeped her out. It was a message alleging fraud, and she didn't know what was going on. It wasn't the first message they had left. I told her to call them back and they knew who she was, and said they were the IRS and that she was looking at some big trouble. She said "stop calling" and hung up. + +When I got home, I called them and they answered the line as "IRS, how may I help you" or some such bullshit. As soon as I mentioned them calling a child, they hung up. A few times. + +Please educate your kids and hell, even you parents. the IRS will not call you. +Hey all, + +This is a privileged position I know but I am hoping some people here have been in the same situation before and can give their story. + +I've been offered a position in London with a basic salary of £100k and a bonus on top of £20k this is a substantial amount of money as my current salary is only £65k. Currently I am working fully remote in a small city in the South of the UK and unfortunately this job requires me to be on site. Here comes the logistical nightmare. + +Having just bought a house I am super happy *but* my salary isn't going anywhere fast down here and should I do well in the job I can expect a salary of £200k up to £400k in a more specialist team (according to Mr headhunter), so there is a big opportunity should I change roles. + +After renting a small flat on the outskirts of London I am looking at a 50 minute commute each way (YUCK) and I would "only" be left £1k a month better off, as I fully intend to keep this home I've just purchased. + +My current thoughts are that I could purchase a tiny pied a terre and spend my weekends at home as it would only be an hour drive back and forth to a little commuter flat. + +There are so many personal things to consider but I won't add those here as this is a finance based sub so please do feel free to offer any similar stories or experiences. + +It's obviously easiest to sit put have a great life and be happy on my wage and earn a little more each year but I see the big numbers I never thought I'd earn and like to do it just to say I did. +Just sold my first option for a measly 20% gain. I had planned to sell before the company reports earnings on Wednesday anyway but pussied out early to take what I could and make my first attempt a this options thing a positive experience. + +How you fucks can buy 100s of these contracts and hold and hold and hold is beyond me. You all either have balls of steel or are a special kind of retarded. +All of our paychecks are direct deposited into a single checking account, from which we pay bills, invest, transfer into savings, etc. It works for us. + +My husband likes to have a big, solid cushion in this account, because so many of our bills are automated, including some large ones like school tuition. I can understand this. But also the amount we have in there feels excessive to me. + +So I’m just curious what other people do. How much do you keep in your checking account? Either a raw number or as a percentage... +My father passed away last year and i just received my portion of his estate and it was way more than i ever expected. The people closest to me keep suggesting i invest in buying a home, but I’m only 22 and i don’t even know where i would want to live if i bought a house. I definitely want to pay off my car but i have no idea where to go from there. + +If possible I’d like to make this money grow, but i have no idea how to do that. Does anyone have any suggestions? +I see people charging money to use their template. This community has helped me so just thought I would give a little back. If someone wants use you are more than welcome. Make a copy and good luck investing + +https://docs.google.com/spreadsheets/d/1ym0rDLbPK0VGDXpYU1wVda-Vv4V-8PnSrVJEkXMRCfM/template/preview +[https://www.reuters.com/technology/twitter-revenue-falls-weakening-digital-ad-market-2022-07-22/](https://www.reuters.com/technology/twitter-revenue-falls-weakening-digital-ad-market-2022-07-22/) + + July 22 (Reuters) - Twitter Inc [**(TWTR.N)**](https://www.reuters.com/companies/TWTR.N) on Friday blamed its ongoing battle to close its $44-billion acquisition by Elon Musk and a weakening digital advertising market for a surprise fall in quarterly revenue and a net loss. The results come as Twitter has sued Musk for dropping his offer to buy the company, and is now preparing for a legal showdown in a trial set to begin in October. The deal uncertainty has worried Twitter's advertisers and caused chaos inside the company. Advertising revenue rose just 2% to $1.08 billion, missing Wall Street expectations of $1.22 billion, according to Refinitiv IBES data. Total second-quarter revenue, which also includes revenue from subscriptions, was $1.18 billion, compared with $1.19 billion a year earlier. Analysts were expecting $1.32 billion. "Twitter is now in the unenviable position of convincing advertisers that its ad business is solid regardless of how its court battle with Musk ends, and its Q2 earnings show that the platform has its work cut it out for it to do that," said Jasmine Enberg, principal analyst at research firm Insider Intelligence. +Hello, + +I recently graduated with a Bachelors in Arts and Sciences (English) and was planning to move out of my parents house and finally be on my own. Unfortunately, over the holidays my father unexpectedly passed away. He was the only full-time worker in our household of now, 4. My mother is a stay at home mom and I have two younger brothers who are recent legal adults. + +My brothers have part-time minimum wage jobs like me, and were also attending community college. We're not sure what to do, everything seems so overwhelming, as we're still grieving over my father's passing. We rent the house we currently live in and my father left behind 3 cars he was making payments on. We pretty much have decided to take back 2 of the 3 cars, as we can not take on payments for all of them. + +I have some money saved to keep us afloat for the time being and I am trying to find a stable full-time job. My brothers are also looking for full-time jobs and will most likely have to drop out of school until we can get back on our feet. My mom hasn't worked in years and is not in the best health, especially after losing her husband. I'm just trying to figure out the best solution for us right now, but I just don't know where to start. + +My father was a veteran and did have some retirement money coming in that my mother will receive monthly, but it's not much and as far as I know he did not have life insurance. I think the VA has some benefits but it's just all so confusing I'm not sure if my mother even qualifies. We would like to buy a small house instead of throwing money away on rent, I'm just not sure how realistic that is. I have decent credit, I just don't have the proof of a stable income to maybe get a loan for a house. + +Does anyone have any tips or advice on how to proceed? We don't have family where we live so we're pretty much on our own. My mother's first language is also Spanish, so I have been trying to sort everything out for the family. Any suggestions would greatly help. +When it comes to buying stuff I want rather then need. I started comparing the item cost to my salary when deciding if it was worth it. So for example a brand new TV would be 50 hours of work rather then $X. I find that makes it easier to decide if I should buy something new or stick with what I have. Please tell me I'm not the only one. +Sauce: https://www.dividend.com/how-to-invest/history-of-bank-stock-dividends/ + +TLDR: Most banks increased their dividends before the crash. Coming soon to cnbc cramer shouting Wells fargo is fine + + +Copies and pasted pieces of the article with the numbers: + +Before the financial crisis in 2008, many dividend investors flocked to bank stocks for their attractive dividend yields and stability. Since many of these companies paid such attractive and consistent dividends, and appeared to be large stable companies, investors believed that their investments in bank stocks were safe. + +JP Morgan (JPM) + +During the years prior to the 2008 crisis, JP Morgan (JPM ) offered a dividend yield around 3%. By 2008, as JPM’s share price began to crumble, its yield rose above 4%. By February of 2009, JPM’s yield dropped to just 0.55% when the company cut its dividend for the first time since 1990 from 38 cents to 5 cents per share quarterly. This drastic change came as a surprise to many investors. Although many banks had recently slashed dividends, JPM was still considered one of the most stable investment banks, and was one of the last to cut its payout. + +This dividend reduction came soon after the company received $25 billion in TARP bailout funds. JPM’s CEO Jamie Dimon reported that the cut was unrelated to the bailout, and said that this cut was made to allow JPM to have more financial flexibility. The 87% dividend cut helped the bank save $5 billion annually, which freed up capital to repay bailout funds. + +Wells Fargo (WFC) + +San Francisco-based Wells Fargo (WFC ) kept up with its peers by offering over a 3% dividend yield in 2006 and 2007. In 2008, WFC’s yield shot up to 4.5% as its share price fell, similar to other banks at the time. + +Just two months after the bank’s purchase of ailing Wachovia in March 2009, the bank cut its dividend 85% from 34 cents to just 5 cents per share, leaving shareholders with a mere 0.70% yield. The cut allowed WFC to save $5 billion a year to help fund its toxic mortgage losses. + +Bank of America (BAC) + +Charlotte, NC-based Bank of America (BAC ) traded at around $50 prior to the 2008 crisis, and had a dividend yield that exceeded 5% in 2007 and reached 7% by 2008. The banking giant was historically a great choice for dividend investors, but that all changed in 2009 when the bank was forced to cut its dividend in order to comply with government restrictions after taking TARP bailout funds. + +In 2009, BAC cut its quarterly dividend to just 1 cent per share. This left investors with just a 0.23% dividend yield. Since the dividend cut, BAC has made attempts to raise its dividend, but has failed to gain government approval. + +Citigroup © + +In 2006, Citigroup (C ) had a dividend yield of about 4% which increased to over 4.5% in 2007. By 2008, the New York City-based bank had a dividend yield of over 7% as its stock price began to fall. In 2008, Citi was bailed out by the U.S. government for the first time and given $25 billion in TARP bailout funds. By February 2009, Citi had received its third government bailout. The government owned one-third of its shares. + +To comply with the government regulations, the bank suspended its dividend entirely from 2009-2010. In March 2011, the company resumed its dividend, offering a yield of just 0.10%, or 1 cent per share. During this time, C also did a reverse stock split of 10 to 1, making its shares worth approximately $44. + + + +Edit tldr of dividend increases by our friend Walter + +https://i.imgur.com/BH3vMvP.jpg + +Edit 2 Dividend history 2008ish in nominal dolla bills + +https://imgur.com/a/BtA9647 +Bitcoin represents a system where censorship is impossible, with no bias, no favoritism, no handouts, and no money printing. + +Bitcoin was designed from the ground up to be decentralized money. There is zero ability for the network to be manipulated, for decisions to be made unilaterally, or to have any of its users censored. + +In essence, it is money designed for a true democracy. + +[https://www.cryptovantage.com/news/the-gamestop-stock-craze-is-basically-a-20-billion-ad-for-bitcoin/](https://www.cryptovantage.com/news/the-gamestop-stock-craze-is-basically-a-20-billion-ad-for-bitcoin/) +I posted a little back about moving out by myself, but was worried due to low income and a sleep terror condition that made it hard to live with others. + +Just scored a job working in pharmaceutical manufacturing that puts me at 75k. Gonna move out by myself, found a few simple flats and apart and apartments around the 300-350 pw range. + +I have to work the afternoon shift for it, but as a hermit, that's fine. Maybe I'll be OK after all, just felt like posting something nice. +I'm 30 years old and am at about $1m NW. Until this point I've felt super comfortable with a large nw and a relatively stable job. However, today they announced a ton of layoffs at our company and it sounds like a second round of layoffs are in order. No one knows who's staying or going and I always thought I wouldn't be too worried if I was laid off as I have a large NW cushion and I work in technology and can get another job that probably pays better, I've stayed here mostly due to loyalty. However, I now feel quite anxious about losing my job but I know it's somewhat irrational knowing I've got a decent cash cushion. Have any of you been navigating job losses or company losses and how has it affected your mentality? +Shilly Bar is the token that will be backed by the Shilly Wonka Shitcoin Factory ecosystem that was built over the span of almost 6 months. The ecosystem’s core has and always will be its organically built community. The Shilly Wonka team’s focus will always be to bring more benefits to its users. We started out with the basic use cases of identifying potential moonshots and calling out projects with nefarious purposes. And look how far we’ve grown! + + Shilly Bar Tokenomics: + + 💎 Total Supply: 100,000,000,000 + + 💎 Buy/Sell transaction tax: 15% + + 💎 5% goes back to holders as BUSD rewards + + 💎 4% goes to a lottery wallet + + 💎 4% goes to the team + + 💎 2% goes into the liquidity + +📈 Contract Address: 0xf3bebb4f2d348e44cc4547cba2f96c214fe5a25a + + Featuring multiple use cases such as: + + ✅ Used for transactions made within the server like purchasing our VIP membership, which grants early access to shitcoin calls, access to exclusive whitelists and to micro-communities within the server. + + ✅ Holders will be able to get BUSD rewards just by holding the token + + ✅ A lottery will be held regularly for holders to win big! + + ✅ To ensure consistent buys, we will also allow our marketing for other projects to be paid with our token. + + ✅ We’ll also be launching a play-to-earn game in collaboration with the team behind Retrocade + + 🔧Roadmap🔧 + + 🍭Initial Phase + +We’ve been building the community since July 2021 and during the time, we’ve focused on creating a safe space for crypto enthusiasts where we find legit gems and call out rugs and honeypots. + + 🍭Growth Phase + +As we grew bigger, we’ve introduced more and more features to the Shitcoin factory to benefit our community such as getting exclusive whitelist spots for awesome projects, test launching Loompa secret concoctions (mini project launches that the community can take part in) and offering small BNB/BUSD rewards for simple jobs for the community in the server. + + 🍭Expansion and beyond + +We’re always looking at more possibilities and we’re always happy to listen to suggestions and recommendations from our community! As we grow and expand, we intend to always put the community first, as we will always be a community-focused project. + + Socials and Links + +🌐 Website: https://www.shillywonka.finance/ + +🌐 Telegram: https://t.me/ShillyBar + +🌐 Discord: /shillywonka + +🌐 Twitter: https://twitter.com/ShillyWonkaBSC + +🌐 CoinGecko : https://www.coingecko.com/en/coins/shilly-bar +I placed a market sell order for GraniteShares 3x Long Barclays at 14:50GMT today where the price was marked at 83.025. It instead decided to fill the sale at 76.742. The price hasn’t even HIT 76.742 since 15:50GMT according to their platform. + +I got an email from them saying it's not their fault they mis-priced it, they quote Bloomberg prices which are accurate. But Bloomberg has the 76.742 price at 14:50, and trading212 is still showing the price at 81.430 throughout the trading interval 14:55 to 15:25, and 14:58 is when they executed my trade. They didn't execute at the price they quoted me, and it's not an issue of low volume because the price they quoted was 76.742 from when I placed the order, to when they executed it, and then a whole 30 mins later the price displayed was still the same. + +What do I do? +Hello, + +I am having trouble grasping the idea that the Roth IRA is so special. I know that the Roth IRA is taxed as you contribute money into and not taxed when you take the money out, but why wouldn't you just skip that step and just invest the money in stocks in a brokerage account and pay the \~15% capital gains tax instead of paying the \~24% income tax on the Roth IRA contributions? I know I am missing something. Is it because if you invest invest the money separately from a Roth IRA you are paying the income tax and the capital gains tax? Can someone please explain to me what I am not getting. Thank you. +I never doubted the company, nor RC. But the US market regulators made me lose faith in the American market for good. Retail and their activism is what keep me optimistic about a better tomorrow. + +I confess, even though I never doubted the company, I wasn’t always zen. I worried a lot for the first half of 2021. + +That has changed. Thanks to retail. Thanks to all of you who won’t stand down for corruption. Thanks to you who won’t give up. Thanks to you who want real free markets. Thanks for speaking up for a better system. + +Also, I like the stock. +## 1) Initial information gathering and filtering + +Once I identify something that looks like a good potential investment, I first go to the CoinMarketCap page for that symbol and look at the website and blockchain explorer. + +- Critically evaluate the website. This is the first pass of the bullshit detector and you can tell from a lot from just the website whether its a scam. If it uses terms like "Web 4.0" or other nonsensical buzzwords, if its unprofessional and has anonymous teams, stay away. Always look for a roadmap, compare to what was actually delivered so far. Always check the team, try to find them on LinkedIn and what they did in the past. + +- Read the whitepaper or business development plan. You should fully understand how this crypto functions and how its trying to create value. If there is no use case or if the use case does not require or benefit from a blockchain, move on. Look for red flags like massive portions of the float being assigned to the founders of the coin, vague definition of who would use the coin, anonymous teams, promises of large payouts...etc + +- Check the blockchain explorer. How is the token distribution across accounts? Are the big accounts holding or selling? Which account is likely the foundation account, which is the founders account? + +- Read the subreddit and blogs for the cryptocurrency and also evaluate the community. Try to figure out exactly what the potential use cases are and look for sceptical takes. Look at the Github repos, does it look empty or is there plenty of activity? + + +## 2) Fill out an Investment Checklist + +I have a checklist of questions that I find important and as I'm researching a crypto I save little snippets in Evernote of things that are relevant to answering those questions: + +- What is the problem or transactional inefficiency the coin is trying to solve? + +- What is the Dev Team like? What is their track record? How are they funded, organized? + +- Who is their competition and how big is the market they're targeting? What is the roadmap they created? + +- What current product exists? + +- How does the token/coin actually derive value for the holder? Is there a staking mechanism or is it transactional? + +- What are the weaknesses or problems with this crypto? + + +## 3) Create some sort of consistent valuation model/framework, even if its simple + +A simple model that just tries to derive a valuation through relative terms will put you above most crypto investors. Some simple valuation methods that anyone can do: + +- Metcalfe's Law which states that the value of a network is proportional to the square of the number of connected users of the system (n2). So you can compare various currencies based on their market cap and square of active users or traffic. + +- Another easy one is simply looking at the total market for the industry that the coin is supposedly targeting and comparing it to the market cap of the coin. Think of the market cap not only with circulating supply like its shown on CMC but including total supply. + +- If its meant to be just used as just a currency: Take a look at the circulating supply and look at the amount that is in cold storage or set to be released/burned. Most cryptos are deflationary so think about how the float schedule will change over time and how this will affect price. + +Once you have a model you like set up, you can compare cryptos against each other and most importantly it will require that you build a mental framework within your own mind on why somebody would want to own this coin other than to sell it to another greater fool for a higher price. Modeling out a valuation will lead you to think long term and think about the inherent value, rather than price action. + +Once you go through this 3-step methodology, you'll have a pretty good confidence level for making your decision and can comfortably sit back and not panic if some temporary short term condition leads to a price decrease. This is how "smart money" does it. + +## Think about your portfolio allocation + +You should think first in broad terms how you allocate between "safe" and "speculative" cryptos. For new investors its best to keep a substantial portion in what would be considered largecap safe cryptos, primarily BTC and ETH. I personally consider XMR to be safe as well. A good starting point is to have between 50-70% of your portfolio in these safe cryptocurrencies. As you become more confident and informed you can move your allocation into speculative small caps. + +You should also think in terms of segments and how much of your total portfolio is in each segment: + +- Core holdings - BTC, Ethereum +- Smart contracts platform segment - Ethereum, Polkadot, ALGO, Solana …etc +- Privacy segment - Monero, Zcash …etc +- Finance/Bank settlement segment - Stellar ...etc +- Enterprise Blockchain solutions segment -VeChain ...etc +- Promising/Innovative Tech segment: NANO, ADA, Tezos ...etc + +You should also think about where we are in the cycle, as now given so much uncertaintly its probably best to stay heavily in core holdings and pick up a few coins within a segment you understand well. If you don't understand how enterprise solutions work or how the value chain is built through corporations, don't invest in the enteprise blockchain solutions segment. If you are a techie who loves the technology behind a coin, invest in that. + + +## Think of your "circle of competence" + +This is actually a term Buffet came up with, it refers to your body of knowledge that allows you to evaluate an investment. Think about what you know best and consider investing in those type of coins. If you don't know anything about how supply chains functions, how can you competently judge whether VeChain will achieve adoption? + +This where your portfolio allocation also comes into play. You should diversify but really shouldn't be in much more than around 12 cryptos, because you simply don't have enough competency to accurately access the risk across every category and for every type of crypto you come across. If you had over 20 different cryptos in your portfolio you should probably think about consolidating to a few sectors you understand well. + + +## Continually educate yourself about the technology and markets + +If you aren't already doing it: Read a bit each day about cryptocurrencies. There are decent Youtubers that talk about the market side of crypto, just avoid those that hype specific coins and look for more sceptical ones like CryptoInvestor. If you don't understand how the technology works and what the benefits of a blockchain are or how POS/POW works or what a DAG is or how mining actually works, learn first. If you don't care about the technology or find reading about it tedious, you shouldn't invest in this space at all. + +———————————————————————— + +There is no tldr haha. That was a pretty long one and I think it just about covers everything. Hope it helps! +Equity options Aug. expiration is tomorrow and this cycle was probably the worst since March 2020. I thought I'd just write to let people know if you got beaten up this month, it's not necessarily because you are a bad trader. We had explosive realized volatility all over the place and shrinking IV. It's a perfect storm for terrible losses. +Howdy Apes! u/Bradduck_Flyntmoore here! The good news just keeps on coming. As the title says, Dave Lauer will be joining us for an AMA immediately following the Jon Stewart AMA. The focus of this one is retail advocacy. What that means, how to do it, resources available, etc. This AMA will also be text-based. Feel free to use this post as a place to start getting questions in order. We will be pinning a fresh version of both AMA posts at the appropriate times (1pm ET for JS and 2pm ET for DL) to keep the clutter down, which will also make it easier for us to moderate it. Speaking of which, **anyone found to be brigading or flaming or otherwise trolling the bets post will be permabanned.** + +&#x200B; + +As many of you know, Dave and the team at Urvin Finance have put together what they call the Investor Bill of Rights. This AMA is the perfect opportunity to ask any questions you may have about it, The Terminal, or investor advocacy in general. Don’t forget, Dave has been at this for over a decade. For anyone who is chomping at the bit to get involved and get their voices heard (I see you u/buttfarm69), this AMA will focus on what the individual can do, as well as the tools and resources available to help do it. Apes are welcome to ask Dave questions about his experiences with Jon Stewart and team, as well. + +&#x200B; + +I’d like to take this opportunity to remind everyone that as more eyes fall on Superstonk, there will likely be more new folks wandering in to see what the hell is going on with GameStop and the market at large. Help them. Support them. Answer their questions or direct them to the appropriate reading material. Be excellent to them and each other, in true ape fashion. + +&#x200B; + +Before I let you get back to your weekend banana hobbies, I’d like to also give credit where it is due, namely to former Superstonk moderator, u/StonkU2, for his efforts behind the scenes to make both AMAs happen. Thank you for continuing to fight for retail in the public space, Alex. You’re a fine demonstration of how apes together strong and for that, I salute you! o7 + +&#x200B; + +As StonkU2 would say: Profit to the People! LFG!!! 🚀🌙 +My dad died a few months ago, and he’s the person I would usually turn to for financial advice. He was very well versed in finances, honest, and non judgemental- and I really don’t have anyone to turn to any more who is like that. I had a conversation about finances with some friends recently and it made me pretty anxious about where I am in life, but the person I would usually turn to help me quell those fears is gone. So I’ve come here for a sanity check , I hope this doesn’t violate any rules. For a little background on me: I’m a 25 year old living in the US making about 72k a year. I have 24k in my 401k and 30k in savings. Is this, for lack of a better term, good for someone at my age and income level? +I’m also curious about how the expectation of people having children in future impacts financial planning advice. I think it is extremely unlikely that I will have children in the future because I have a number of genetic conditions that run in my family that I am concerned about passing down. Does that have any effect on how I should plan for the future? + +P.S.- I’m sure as a member of this community, all of you who are parents are educating your children on personal finance. But if for some reason you aren’t, please pass on your knowledge. It was one of the greatest gifts my dad left me. +Our net worth is approaching 5M and our two kids are to get exactly half. Before when our net worth was just 300K, I wasn't worried at all but now that it looks like each could get over 2M I'm starting to lose sleep. + +The younger one is a Stem grad and will know what to do with the money however the oldest daughter has a learning disability and might be overwhelmed by the windfall. She struggles to understand and learn but thankfully she's working as a receptionist. + +Is there some sort of Trust we can set up that will give her access to her money without her blowing it all at once or being taken advantage of? Her brother lives in another country and doesn't have the time or inclination to help her. +I find it amazing the amount of bystanders that stand at the side and check the charts 45+ times a day, waiting for the inevitable green dildo to send $GME to the moon. + +It is the same bystanders that hold XXX shares with Fidelity and or Vanguard that could easily send this to the stratosphere. + +If you are passionate about the stonk, put your money where your mouth is and make the phone call. + +Back from Croatia 🇭🇷 +Kids love Roblox. On the school run I mentioned that we'll soon be able to buy some shares in Roblox and that means we'd own a little piece and as Roblox grows and more kids buy Robux we'd make money and if we left it there for years and years in ten years you might be able to buy a car or something. They were super enthusiastic. I'm looking forward to having this experience with them win or lose. +So I was in the shower, pondering life's mysteries and throwing out some comebacks to my school bullies 4 years too late, when I began to start thinking about the positive changes I've made financially. They saved my ass a couple of times, and so I wanted to share. + +I. The saving accounts. + +- Get a saving account with interest. Period. I use Discover for a cashback debit and a savings account. Shop around for one that best suits you. + +- Some people still don't know you can have more than one dedicated savings account. If you don't know, now you know. You can get creative with these hoes, too. I had one dedicated to 3x rent, utilities, and groceries. +I say have a minimum of 2x, but if you can add more, add more. + +- I had another one dedicated to emergencies. I have $4.5k in there. This covers car problems, anything my insurance doesn't cover, hotels, food... you get the idea. Much like everything else, your goal will and should depend on your financial situation. Again, add more if you can. Always. + +- If you can, have a "fun times" account. +I, at my core, am a materialistic motherfucker. I love watches, cars, clothes...everything. But, I refrain from living like one, because I've developed discipline over the years. However, I'm also in a position where I can throw in money into a more "flexible" account like this, so I do. This gets last priority. If I have any money left after R/U/G and my emergency account, then I'll throw it in this guy. + +II. The talk. + +*You* know *you.* And sometimes, you just have to get real with yourself. + +When I see that Lego set, I'm telling myself "you lazy motherfucker, you're not going to spend your time building that." + +And when I see that beautiful Solar G Shock that can be submerged for 17 years at 50000 meters, I think "but when's the last time you actually went outside?" + +Think things over. Find reviews. Imagine yourself using it. Then repeat the process. I sit on purchases for MONTHS sometimes before actually going through with the purchase. Sometimes, by the time I'm ready to buy whatever it is, there's a nice discount on it. Other times, they raise the price and I just repeat the process again. It happens. + +III. Eating out is your enemy. + +As I grow older, I find that most of that "fun time" money is going towards eating out. The money is fair game, so financially, it's fine. But mentally? Imagine the toll. Postmates and GrubHub are cancer. It's convienent. Too convienent. And the additional fees are outrageous. + +Do yourself a favour. Go to the grocery store more often. Buy shit you'll actually want to eat. Buy what you crave. Live a little. Remember, it's fun money. Not grocery money. +$20 of food from the store would have satisfied me more than  $20 of delivery fees from Postmates. + +And that's it. Budgeting can suck at first and can be hard depending on what your situation is. I just wanted to share some points and tips that might help the average guy out. + + + +EDIT: Firstly, thank you for the gold, stranger. + +Secondly, I wasn't expecting this to blow up, but I'm glad I was able to make some points that resonated with people! + +Also wanted to note that I'm an amateur when it comes to saving and budgeting. This post wasn't intended to go into the realm of investing, 401k, etc. Not to say you shouldn't! There's plenty of people that have recommended investing, and that have also given some tips on where to start. + +Thanks, y'all. +Hi, + +I’d like to ask your advice on living as a freelancer in Europe. + +The wife and I are both translators and looking to relocate to an EU country to live and work. We are currently living in Hungary, which is not bad, but we’d like to experience different places too. + +We make a decent but not extravagant amount of money (over 60-70k but under 100k EUR per year, depending on some factors) and have no kids yet. We are interested in countries that offer good tax schemes for self-employed workers. + +We are both quite flexible, have years of experience of living abroad and speak foreign languages too so this wouldn’t be the first time for either of us to move to a foreign country. But it will be the first time we move abroad together. + +Ideally, we’d like to move to an EU member state (we are both EU citizens). Other than that, we are quite flexible. Preferably, this new place will have no worse infrastructure/quality of life/health care facilities than that of Hungary, so we are looking to relocate to countries that are located to the West of Hungary. + +Based on our research, we found that Scandinavia, the Benelux, Austria, and Germany have high taxes. Spain is nice, I’ve lived there for a while but back then I was an employee. From what I heard, being an autónomo there costs an arm and a leg. Italy is also an option with the new Growth Decree – any experiences with that scheme? + +We haven’t done much research on Portugal or the Baltic states yet but I heard only Estonia would be ideal as Latvia and Lithuania are not that advanced with regards to entrepreneur/freelancer culture. + +As of now, the most likely candidates are Czechia or Slovenia – nice, developed countries with a high quality of life and the cost of living, while it is higher than in Hungary, is still certainly lower than in Western Europe. I also heard there was a good tax scheme for freelancers in Slovenia where one has to pay 20% tax on only 20% of one’s income, effectively making the total tax rate 4%. This sounds almost too good to be true – is there a catch? + +What would you recommend based on our circumstances and experiences? Did we miss any places that are good for freelancing expats, or did we get something wrong during our research so far? + +Any tips or advice would be very much appreciated. + +Cheers +Like many others in this sub, I check Blockfolio way more than I probably should. + +Here’s why it happens, why it’s bad, and what can be done about it. + +&#x200B; + +Checking the price frequently is motivated by [the brain’s reward system](https://en.wikipedia.org/wiki/Reward_system), and more specifically the neurotransmitter [dopamine](https://en.wikipedia.org/wiki/Dopamine). + +&#x200B; + +Dopamine makes you feel good. It’s what makes us want to eat, play video games and mate with /u/krokodilmannchen. + +It’s also what gets us addicted to drugs, to gambling, and to checking the price often. + +&#x200B; + +When opening Blockfolio, our brains get stimulated. + +If they see green, they release dopamine, which makes us feel good. + +If you repeat this frequently enough, the behavioral pattern gets stronger, you seek this dopamine more often, and thus check the price more often. + +Seeing red from time to time isn’t enough to prevent the solidification of the behavior. + +&#x200B; + +And up to a point it’s ok. + +&#x200B; + +But I gotta admit: + +\- I often check the price first thing in the morning + +\- I often check the price probably 100 times a day + +\- I sometimes check the price if I wake up during the night + +&#x200B; + +The problem is that when the brain sees red, it produces [cortisol](https://en.wikipedia.org/wiki/Cortisol), a hormone that regulates stress levels: if something bad happens around you, your brain wants you to be alert, ready to take action. + +The cortisol system evolved at a time when threats were everywhere. + +It’s not really adapted to today’s lifestyle, and it’s certainly not adapted to Blockfolio. + +&#x200B; + +Short term, cortisol makes you stressed and more irritable. + +Long term, it makes the immune system weaker, weakens your bones, make you anxious, cause insomnia, and makes you fat. + +&#x200B; + +Cortisol can turn you into a weak, anxious, fast-aging version of yourself. + +&#x200B; + +Not only that but checking the price all the time pisses other people off and makes you less productive at work. + +&#x200B; + +For hodlers, another problem is that checking the price isn’t even useful at all: + +Won’t you keep your Eth no matter the direction the price took in the last 5 minutes? + +&#x200B; + +So if you’re in a similar situation, here’s what works: + +* Be aware of this stuff, watch it at play, and keep it in check. +* Set notifications if the price moves $10 up, or $10 down. No notifications = nothing happened. This will allow you to reduce the price checking dramatically, since during most days the price doesn’t move $10. +* Check this [list of things to do to decrease cortisol levels](https://en.wikipedia.org/wiki/Cortisol#Factors_reducing_cortisol_levels) if you feel like you need it. +* Exercise, eat well, and get enough sleep. This is the usual hippie stuff but there’s a reason why it’s mentioned so often: on average, those who don’t do those things die significantly younger those who do them. So do them. + +&#x200B; + +If we’re right about our investment, let’s all be healthy when it pays off. Take care! + +&#x200B; + +Disclaimer: + +This is an extremely simplified version of the actual biology at play. If you or your relatives feel like things are getting out of control for you, seek help from actual health care professionals! +My startup recently completed an equity financing and my equity is valued at $28M. It constitutes almost my entire NW. My wife and I own a house worth $3.5M (Hers) with no debt and a rental property worth $850k with a $570k mortgage that cash flows a significant amount ($90k - we own it jointly). I have a $240k 401k and we maybe have $600k in cash and stocks. We have some other non liquid investments. No other debt, no kids. My wife doesn’t work and my salary at my company is $120k (down significantly from my last job where I made high six figures) a year but I own the majority of my startup. I know this is a good position to be in but it doesn’t feel like a very comfortable position. The equity round included institutional investors and I am trying to do a non recourse loan against some of my stake but don’t know how feasible that is. + +Just wanted to vent here, it’s very exciting but not many people can understand the dilemma. +&#x200B; + +https://preview.redd.it/6vfsw0r3g0371.png?width=1600&format=png&auto=webp&s=e4455cda2c208b209331282b323ea437a0c81d6d + + Good Morning San Diago, + +I am Rensole and this is your daily news. + +Does anyone smell that? + +\*insert flashy intro card\* + +&#x200B; + +https://preview.redd.it/80hzvyw5g0371.png?width=680&format=png&auto=webp&s=f13e3d82941049d7badb8db3b8c4ad6ca11b7ce4 + +&#x200B; + +https://reddit.com/link/nr8uzl/video/8lrq6vk7g0371/player + + + +Be sure to vote with your shares, don't think it won't matter because it does, over-voting would show there are lots of things being wrong and would give the company a much needed excuse to call their votes back in. + +Also for the 6/9 (nice) annual shareholders meeting, remember that we will most likely not see a lot happen to the stock immediately after this because if they have something planned (NFT/Dividend/ recounting their own shares etc) it can be mentioned there but could still take some time before it can be implemented. + +Like the NFT is set to launch around the 14th of July, if they were to give a dividend it could also be a few weeks, a recount can take a lot longer though, due to the audit process being very specific it may take a month or maybe longer (I can't say, or imagine, how long auditing the shares would take as this is a scale because the situation unprecedented) and there is a chance the vote count can be doctored to make sure it shows a non accurate vote count, regardless of everything just hodl and wait, as news reports have already stated SHF have list close to 2 billion usd just from Monday till Wednesday, but also these are "paper" losses as there is only an actual loss once they close their positions. + +[https://www.reddit.com/r/Superstonk/comments/nlpz4h/your\_votes\_are\_important\_the\_time\_to\_vote\_is\_now/](https://www.reddit.com/r/Superstonk/comments/nlpz4h/your_votes_are_important_the_time_to_vote_is_now/) + +Please go out and vote! there are only a few days left that you can, I believe the official cut off date is the 6th. + +&#x200B; + +https://preview.redd.it/58ixaebhg0371.png?width=960&format=png&auto=webp&s=88882a431fbbc1502dee3c0d60ee31dc3b4b231b + +# DTCC Notice - FICC - Requirements for Clearing Members Reset + + The Mortgage-Backed Securities Division (“MBSD”) of the Fixed Income Clearing Corporation (“FICC”) will reset the CCLF® requirement for all Clearing Members that selected Option 1 or 2 on the Officers’ Certificate. The reset will be effective as of July 1, 2021. + +[https://www.dtcc.com/-/media/Files/pdf/2021/6/2/MBS988-21.pdf](https://www.dtcc.com/-/media/Files/pdf/2021/6/2/MBS988-21.pdf) + + As u/criand was kind enough to respond on a thread about this: + +>Might not mean anything, these resets are standard every \~6 months. HOWEVER... +> +>The CCLF increased the liquidity requirement of members earlier this year. The funds help the FICC in the event of a member default. I believe the below post is much more interesting than this reset. +> +>[https://www.reddit.com/r/GME/comments/mgrx9n/new\_dtcc\_filing\_30\_march\_recalculating/?utm\_medium=android\_app&utm\_source=share](https://www.reddit.com/r/GME/comments/mgrx9n/new_dtcc_filing_30_march_recalculating/?utm_medium=android_app&utm_source=share) + +&#x200B; + +# Volume difference + +So I've seen some troll posts talking about how hodling doesn't work, I also found a thread by u/GoochTainter [here](https://www.reddit.com/r/Superstonk/comments/nqtcd8/hooolllly_fuck_look_at_the_volume_on_january/) + +In January we had movement (volume) that reached into the millions but the past weeks volume has been fairly low in comparisson, How low you ask? + + +https://preview.redd.it/okqp0nr5h0371.png?width=960&format=png&auto=webp&s=448549f1c56301309eecc93d5c05dbf8a2396f69 + +Look at that, the price is almost at the squeeze levels of January with close to no volume, this is insane! this proves to me (personally) that we are correct about most of the DD we've seen, we've proven that the FTD cycles of both T+21 for regular shorts and T+35 for options are real, we've seen them push other stocks (silver, amc, BB, nok) on MSM while completely ignoring GME and only making posts "15 stocks to make you forget GME" and we've found that our tits are indeed, Jaqued. + +If you own one of those other stocks, awesome I'm genuinely happy for you guys, but remember this is a GME sub, so lets keep those stocks to a minimum, again if you have a correlation between them it's ok to post it here, or a theory how they all connect etc, but not oh look at my XXX stock, the first one is helping, the latter is seen as a distraction. + + + +https://preview.redd.it/h95s8ir5i0371.png?width=960&format=png&auto=webp&s=e0307e0ae5d9ea12459865edba59dfafc3611e30 + +# Gamestop confirms release of Q1 results and meeting date + +&#x200B; + +https://preview.redd.it/y9r27ej8i0371.png?width=960&format=png&auto=webp&s=fb6d963fd40936a4563f7c8e2281b20a818f8ab2 + +Now this is a fun one so let's go over this because there is a lot of information in this even if it looks fairly plain from first glance. + +First all the date, 6/9 is the date they also released their Q1 numbers in 2020, so they are keeping the same schedule ( I've seen post saying this is earlier than normal but it seems to be the exact date like last time). + +Last years Q1:[https://news.gamestop.com/news-releases/news-release-details/gamestop-reports-first-quarter-results](https://news.gamestop.com/news-releases/news-release-details/gamestop-reports-first-quarter-results) + +After this call all the information released by GME HQ will be available on their website + +They will host an Investor conference call at 5 PM ET the same day to review the companies financials. + +The phone number for investor conference call is **877-451-6152** Code to enter is **13720011** + +The annual shareholders meeting will be held at 6/9 11 AM ET and will only last 15 minutes + +George Sherman will be attending the physical meeting and the other directors will be there via zoom/skype etc. + +&#x200B; + +Now what does this all tell us? + +They have a seperate call for the Q1 earnings report (look back at the Q4 call that lasted 20 minutes with sherman phoning it in), this will focus on the direct financial side of things, meaning their actual earnings (duh). + +The Annual shareholders meeting however is a different beast entirely, with this one we can hear a lot of things coming, we can hear the roadmap the company is going to use in the coming years, we can hear how the board will be placed, who will become the new CEO but also one thing that I'd be remiss if I didn't mention + +The Share count, at most we will hear a preliminary counting, because if our theory about the huge amount of phantom shares is true (yes until confirmed by the company its still a theory and yes these numbers can be fucked with before it even gets to the company), the cut off date for counting is the 6th of June, meaning if they get millions more it will take some time to get through this. + +HOWEVER, this is also a good thing, if they can see from preliminary numbers that the sharecount is out of wack, they can get an Auditor, just to make sure the shares are correct. + +&#x200B; + +Also keep in mind we may not hear everything we want to hear at the shareholders meeting because after this meeting GME will be more "free" to discuss which direction they want to go into and the "silent" period for the company may be over. + +&#x200B; + +https://preview.redd.it/jp2wyi3xk0371.png?width=960&format=png&auto=webp&s=6e18421628127d5cd273b0b965dcbcd76703961b + +Remember my Favorite book series? + +&#x200B; + +https://preview.redd.it/gnrd8lo3l0371.png?width=242&format=png&auto=webp&s=6b54ec77d30baa123ef78e87da1226e7810366f4 + +Expect it, just saying, I'm constantly waiting to get a rug pull as a last sort of hail mary, but the awesome part is that I can see in the posts that I'm far from the only one and I've seen a lot of people discussing "what could they do next?" which is awesome because last time we foresaw them pulling the rug at 300 and everyones reaction was just "oh... ok, so hodl?" + +No one panics if everything goes to plan - weird clown guy + +&#x200B; + +Also Yes I realise the news is fairly... "short" today, I expect it to become less and less as we get nearer to the shareholders meeting, this because well the company wont say shit now they'd rather bring it to the table on the annual shareholder meeting right? + +So the only things I'd be able to get is information from the DTC/DTCC/FINRA/FINTEL/ and Data provided by awesome members we have here and outside of the sub. so don't worry we're just in a period that's called a "silent period" which a company usually has before meetings like this. + +We don't know what the annual shareholders meeting will bring, but I'm excited as all hell. + +(also little side note, keep in mind we wont see shit happen on the Annual shareholder meeting because its after market close, we'll see the affects of it in the days/weeks after it 😉) + +So stay classy, stay Jaqued! + +&#x200B; + +https://preview.redd.it/2thk8upcm0371.png?width=554&format=png&auto=webp&s=c6a0195860eb788c0fa04f4ddd36fdb5a7e2c3c5 + +# EXCELLENT! + +Be friendly, help others! + +as always we are here from all different walks of life and all different countries. + +This doesn't matter as we are all apes in here, and apes are friends. + +Doesn't matter if you're a silverback a chimp or a bonobo. + +We help each other, we care for each other. + +**Ape don't fight ape, apes help other apes** + +this helps us weed out the shills really fast, as if everyone is helpful, the ones who aren't stand out. + +remember the fundamentals of this company are great, so for the love of god if someone starts with trying to spread FUD, remind yourself of the fundamentals. + +There is no sense of urgency, this will come when it comes, be a week, be it a month be it six. + +We don't care, just be nice and lets make this community as Excellent as we can! + +Remember one of the only ways to counter the Cointelpro we have seen is by being overly nice, so treat all the other apes as if you're dating and you wanna get to first base. + +&#x200B; + +https://preview.redd.it/b7ho3lbfm0371.png?width=400&format=png&auto=webp&s=3fe0efea8f6fd42e751aa468a6eb0060d92a4c6d + + + +remember none of this is financial advice, I'm so retarded I'm not allowed to go to the zoo 'cause they'll put me in the cage with the rest of my ape brothers. + +If anything happens throughout the day we will be adding it here. + +backups: + +[https://twitter.com/rensole](https://twitter.com/rensole) + +[https://twitter.com/PinkCatsOnAcid](https://twitter.com/PinkCatsOnAcid) + +[https://twitter.com/RedChessQueen99](https://twitter.com/RedChessQueen99) + +**Countdown to the Annual shareholder meeting 6 days to go** +We purchased a home in 2018 in a small subdivision in a college town. The home was built in 1965, single owner, and flipped. When they flipped the house, they subdivided the lot into two ~0.5 acre lots. The lot next to us is empty and on a corner. It just went up for sale today, and the price isn’t amazing, but probably appropriate based on how expensive everything is these days. I have some stocks I could sell to put towards buying this lot, but I wanted to get some better input on it. + +I think I could afford a loan, but wanted to see if buying it would be a good idea. I’d think it could help us insulate our property tax a little by holding it, and would be an “easy” foray into real estate. (I’m a first time, single home owner) + +Thanks in advance! +We recently rolled the 401k over to an IRA and I didn't realize that they would cash out our positions, so now we have nearly 1 mil in cash. This has triggered an emotional response in me that I wasn't expecting. I am now loath to put it back in the stock market, because, well, holy moly, we are $$$$$$$! And tax considerations aside, it just feels so risky to me now compared to before when it was invested anyway and I didn't give much of a thought to it. + +&#x200B; + +The reason we rolled it over was because the 401k didn't have many options for withdrawals, it was either set up a monthly withdrawl or roll the whole thing over. I wanted to do a Roth rollover before the end of the year, so opted for rolling it over. Now I'm so uncomfortable with putting it back in the market. I'm still getting over the shock of having this much money. We lived frugally to save for retirement, and wow. It worked. + +&#x200B; + +EDIT: All you who have been sending DMs to "help" me invest my money, you have been reported to the mods and it is a bannable offense. DO NOT DM ME or anyone else in this sub. It is against the rules, as I'm sure you all know. + + +The U.S. International Development Finance Corp. says it is [holding up a loan agreement](https://seekingalpha.com/pr/17964813-potential-kodak-deal-paused-until-allegations-are-cleared) with Eastman Kodak (NYSE:[KODK](https://seekingalpha.com/symbol/KODK)) to produce drugs that could be used to fight the coronavirus until allegations of insider trading are cleared. + +"Recent allegations of wrongdoing raise serious concerns," DFC [said late Friday](https://www.cnbc.com/2020/08/08/kodak-pharma-deal-held-up-over-reported-questions-about-stock-move.html) in a tweet. + +Last month, the government agency signed a letter of intent that could provide the former photography company a $765M loan to help pay for factory changes needed to make pharmaceutical ingredients in short supply in the U.S. + +But last week, Democrat U.S. senators asked the SEC to investigate whether insider trading laws had been broken, citing "unusual trading activity" before the deal was announced, and the [SEC reportedly has launched a probe](https://seekingalpha.com/news/3600093-kodakminus-4-sec-probes-government-loan-disclosure-wsj). +Hi guys I really feel like giving up forex, after 4/5 years giving up thousands of hours of my life and still not consistently profitable I think it’s time to throw the towel in. I technically haven’t lost a tonne of money, I’ve never blown an account, so that’s a good thing, I’m just consistently losing more money than I’m profiting, struggle to hit 1:2 ratios. I work full time and one of few things I can take away from my experience is the higher timeframes are the best, nothing below 4hour TF for sure, and recently been looking more and more into daily timeframe for analysis AND entry. I feel like I’ve tried EVERYTHING, and that’s the main thing that sticks with me, the idea of looking at charts for analysis and entry just once a day sounds like a dream. Anyway, I’m struggling! Come so close so many times over the years to nail this. I’ll be brutally honest my ‘strategy’ is too much of ‘trade what you see’ for e.g. if there is a strong rejection of a major trendline and an entry candlestick then that is enough for me. I cannot faff around with hourly candlesticks and checking my phone multiple times per day for the perfect 15min candlestick…. I guess I’m looking for more literature or general education on higher timeframe trading… Who has come very close to giving up and been grateful to themselves for sticking with it in the ups and downs? +It has been reported that Wells Fargo is planning a massive layoff. Cutting up to 25% of its workforce, starting as soon as this coming Tuesday. Price of Wells Fargo shares have also hit lows not seen since 2009. The upcoming structuring might be what Wells Fargo needs in order to bounce back from its current lows. + +Although Wells Fargo is probably one of the worst managed banks, other banks are also in similar situations. It is rumored that Bank of America is intentionally holding off their mass layoff until 2021. + +Sources: + +[https://www.wraltechwire.com/2020/10/27/wells-fargo-workers-report-layoffs-underway-50000-jobs-at-risk-news-site-says/](https://www.wraltechwire.com/2020/10/27/wells-fargo-workers-report-layoffs-underway-50000-jobs-at-risk-news-site-says/) + +[https://investorplace.com/2020/10/wells-fargo-layoffs-what-to-know/](https://investorplace.com/2020/10/wells-fargo-layoffs-what-to-know/) + +[https://finance.yahoo.com/news/wells-fargo-shares-plunge-investors-210538894.html?](https://finance.yahoo.com/news/wells-fargo-shares-plunge-investors-210538894.html?guccounter=1&guce_referrer=aHR0cHM6Ly93d3cuZ29vZ2xlLmNvbS8&guce_referrer_sig=AQAAAFNtmA81gk_y4o4UeIJb28wATDmLIg-jOnG8MlG_9cEl7s9VuhAdgxYeL9h8v08zLrxVbWRP4Kmt9KjkiBMmGaxeh5_VsU1JdVG9uz5KdtxK4NO3u1kWAXH9Jeke6eFfzviw5ND0VUyJ_l72M-vt86tG026z6n9Nlcw7XT9mWNFL) +Hello Redditors, + +I’m looking for some advise from seasoned investors on how to build wealth. I grew up very poor. Single mother of 3 (I was the oldest) Sometimes we didn’t have running utilities since we had no money or food or gas money (Doing a Lot better now). + +Fast forward to the present. I’m a 22 female make about 110k a year maybe a bit more this coming year. + +I’ve never had front line advise from others on how to build wealth except from books so just wanted to ask on advise from those on here who have done it (: +I will be making 95k salary and my mom would like me to pitch in 1000 to 1200 a month for a 15 year mortgage on a half a million dollar condo in LA. We don't own any properties and my mom does not want to rent when she retires. She will be paying a majority of the mortage but we will still split the ownership of this condo. I also have about 24k in student debt. My only concern is that if I'm too young to be tied to a mortgage especially since I will be moving out to the Bay area for work so I will also have my own rent to worry about. It seems like a good deal to jointly own a condo by 40 for how much I'm putting in though. + +Edit: thanks everyone for being blunt. I'm glad this subreddit exists otherwise I mightve made a huge mistake! Fortunately my relationship with my mom is mature enough that she will be understanding that I won't sign a mortgage with her. Thanks again everyone! +I have $5,000 for the first time. Ever. Seriously I’ve never had the opportunity to hold on to more than $200, ever. And I’m 40 years old. + +What should I do +I’m just in a daze right now and am completely horrified of what I have to tell my children. The next worry is What do I have to take care of financially? Are her debtors going to come after me? What do I have to do about her “estate”? If she didn’t work that much over her entire life will my children still qualify for survivor benefits? What should I do next? +An odd post but I find this really interesting, what are the silly things people waste their money on? + +My housemate often gets milkshakes delivered by UberEats +Not that I think he’s a bad actor, gme i̶f̶s̶ OG’s* will know he actually did a lot of good and I think he’s more on Ryan’s side than jim bell and Kathy Vrybeck. But he will be incentivized to sell some of his shares if not voted onto the board, so vote yes AS RC RECOMMENDED and keep his shares locked up. + +Edit: seems to be some hive mind in here around the idea that ‘Sherman was good vote Sherman to board’ being fud / a shill stance. If you genuinely think Sherman is a bad actor, you need to go do some basic homework and read up on the timeline of this whole story- I’ve been in this trade since October last year and am telling you that RC and Sherman are not enemies, the guy basically got pissed on by someone half his age and had his whole company overhauled and replaced and has complied at every step. If he’s recommended to serve on the board per the proxy package it’s not a trick, the current new replacements at both the board and management level formulated this opinion genuinely. +All the current posts about a certain bored billionaire and how he's damaging crypto. So what? Who cares? + +Crypto has got to be able to withstand anything governments, society, the media or rich troublemakers can throw at it. No point getting upset about it... These sort of tests are essential. + +Crypto's resilience should be tested - both technically and philosophically. Let them throw mud, criticise or even lie. If crypto can't take it, it has no future. + +The good news is, we've been testing it pretty brutally for 12 years, and it's still standing. +Data scientist here who has been dabbling in trading and quantitative finance for about two years. Currently taking the "Topics in Mathematics with Applications in Finance 18.S096" course on MIT Open Courseware and after being inspired from some of the lectures, I decided to develop an open source library for portfolio optimization and see whether the portfolios can beat the markets. + +I have named the toolkit **Eiten.** It is developed in python and uses several strategies including a custom genetic algorithm implementation. It takes as input a list of stocks and some other parameters and builds portfolios from the implemented strategies. Next, the strategies are back and forward tested and results are all shown to the user. Here are the 4 strategies implemented right now. + +&#x200B; + +1. **Eigen Portfolios** +2. **Minimum Variance Portfolios** +3. **Maximum Sharpe Portfolios** +4. **Genetic Algorithm Portfolios** + +# GitHub Link + +Here is the GitHub link: [https://github.com/tradytics/eiten](https://github.com/tradytics/eiten) + +# How to build a portfolio using Eiten + +I talked to the mods about posting this here, and they recommended that I post a self-sufficient explanation of the tool here where not everyone has to go to the GitHub link to see how to use the tool, so here we go. + +The tool expects a list of stocks in a file format and a comparison market index. It also accepts a bunch of parameters on bar size, historical data size, future data size (if you want to forward test) and a few other parameters. It then builds portfolios using all strategies, back and forward tests them, and then simulates the portfolio returns using monte carlo. Here is the command that does it all: + + python portfolio_manager.py --is_test 1 --future_bars 90 --data_granularity_minutes 3600 --history_to_use all --apply_noise_filtering 1 --market_index QQQ --only_long 1 --eigen_portfolio_number 3 --stocks_file_path stocks/stocks.txt + +The list of stocks we are using are **AAPL, FB, NFLX, SQQQ, TSLA, MSFT, AMZN, AMD, NVDA.** This command uses 5 years of historical daily data up till April 29, 2020 and buils a long only portfolio which is then tested on the last 4-5 moths. + +All command line arguments are self-explanatory, so I would not explain them here. Instead, let us see the results. First, the tool builds portfolios and plots their weight. Since we are long only, we will change the negative weights to zero during the testing phase. + +[Portfolio Weights for Different Strategies](https://preview.redd.it/d1ua4603a7m51.png?width=1200&format=png&auto=webp&s=5922bad2bfaa30d134aa01169dc0a87aa7b3d7ea) + +We can see that the eigen portfolio is giving a large weight to TSLA while the others are dividing their weights more uniformly. An interesting phenomenon happening here is the hedging with **SQQQ** that all the strategies have learned automatically. Every tool is assigning some positive weight to SQQQ while also assigning positive weights to other stocks which indicates that the strategies are automatically trying to hedge the portfolios from risk. Obviously this is not perfect, but just the fact that it's happening is fascinating. Let us look at the backtest results on the last five years prior to April 29, 2020. The data after April 29th is not included in the portfolio construction process and will only be used during forward testing. + +&#x200B; + +[Backtest results for all strategies. ](https://preview.redd.it/ljzy60qba7m51.png?width=1200&format=png&auto=webp&s=3b269ddaeb3c37846f56703cb5b4518c2e6dccd7) + +The backtest looks pretty encouraging. The black dotted line is the market index i.e **QQQ**. Other lines are the strategies. My custom genetic algorithm implementation seems to have the best backtest results. The eigen portfolio that weighed TSLA the most have the most volatility but its profits are also very high. Finally, as expected, the MVP has the minimum variance and ultimately the least profits. However, since the variance is extremely low, it is a good portfolio for those who want to stay safe. The most interesting part comes next, let us look at the forward or future test results for these portfolios. + +&#x200B; + +[Forward testing results](https://preview.redd.it/gwyn5hnia7m51.png?width=1200&format=png&auto=webp&s=69726eba0580323d1ca6876bddc033ab2c5721ed) + +These results are from April 29th, 2020 to September 4th, 2020. The eigen portfolio performed the best but it also had a lot of volatility. Moreover, most of those returns are due to TSLA rocketing in the last few months. After that, the GA algorithm worked quite effectively as it beat the market index. Again, as expected, the MVP had the lowest risk and reward and slowly went up in 4-5 months. This shows the effectiveness and power of these algorithmic portfolio optimization strategies where we've developed different portfolios for different kinds of risk and reward profiles. + +# Changing Parameters + +Just to give you a few more examples on how to change command line arguments to get different types of strategies, here are some more commands. + +\- Both **long and short** portfolios by analyzing last **90 days** data and keeping the **last 30 days** as testing data. This will give us 60 days of portfolio construction data and 30 days of testing. + + python portfolio_manager.py --is_test 1 --future_bars 30 --data_granularity_minutes 3600 --history_to_use 90 --apply_noise_filtering 1 --market_index QQQ --only_long 0 --eigen_portfolio_number 3 --stocks_file_path stocks/stocks.txt + +\- Only **long portfolio** on **60 minute bars** of the last **30 days**. **No future testing**. Compare the results with **SPY** index instead of QQQ. + + python portfolio_manager.py --is_test 0 --future_bars 0 --data_granularity_minutes 60 --history_to_use all --apply_noise_filtering 1 --market_index SPY --only_long 1 --eigen_portfolio_number 3 --stocks_file_path stocks/stocks.txt + +\- **Do not apply noise filtering** on the covariance matrix. Use the **first eigen portfolio** (market portfolio) and compare with SQQQ. + + python portfolio_manager.py --is_test 1 --future_bars 90 --data_granularity_minutes 3600 --history_to_use all --apply_noise_filtering 0 --market_index SQQQ --only_long 1 --eigen_portfolio_number 1 --stocks_file_path stocks/stocks.txt + +# Discussion + +This is an excellent community of some great quants. I would love to get feedback on the toolkit and suggestions on how to best improve it. +In the spirit of Marvel's Endgame releasing soon, I was thinking about what the effects of Thanos' finger snap would be on the global economy. + +&#x200B; + +For those unfamiliar, the villain snaps his fingers and instantly half of the human race turns to dust. + +&#x200B; + +What are the implications for the economy? Would there be any inflation? Not really looking for specific answers, just interested in your thoughts :) +I'm having a difficult time conceptualizing how, in theory, everyone could gain wealth over a period of time. Where is the wealth coming from? + +Similarly, I can't conceptualize how we as a species used the Industrialization Revolution to create so much wealth. Where did it come from? I understand the Industrialization Revolution itself. + +Thanks +Winter is hard for landscapers. Work dries up, and the ground doesn't. Even when you have work to do, the ground is either too frozen or too muddy. You go from weekly overtime to on call. Last week I worked 10 hours. + +In the Dave Ramsey typology of spenders/savers and nerds/free spirits I am both a nerd (love to budget, every penny has a job) and a spender. So in past years when the lean times came I would incrementally wipe out my savings to maintain the same way of life, defeating the purpose of my obsessive budgeting. + +This year I decided - here's a radical fucking idea - to change my lifestyle in response to a change in income. + +I have a beautiful partner, a tiny kitty 😺, a full tank of gas, food in the fridge, $28 of "allowance" (grocery) money until next Wednesday, bills paid through 2/15 (through 2/27 as of next paycheck), and most importantly my untouched savings. I have books to read and people to have over for dinner instead of going out. I'm still putting the same percentage of my income towards savings and debt. Just yesterday I put a deposit towards a secured credit card (my first CC ever, at 29yo lol) to start trying to boost my ~~"I love debt" score~~ credit score. Life is good. +Hi All, + +Before we get into the fun stuff that is r/place, u/bye_triangle has an update now. + +# April Fools Jokes + +As many of you are likely aware, last April fools there was a moratorium on pranks, gags, and all other April 1st tomfoolery. This year, we are going to be implementing the same. Due to the sensitive nature of our situation and the prevalence of trolls, shills and others looking to spread misinformation and generally sow chaos in our community, this is the best way to go about this. Sorry if it kills the fun for some, but based on the performance of this post: + +[https://www.reddit.com/r/Superstonk/comments/tt65l7/tomorrow\_is\_april\_fools\_day\_petition\_to\_make\_this/](https://www.reddit.com/r/Superstonk/comments/tt65l7/tomorrow_is_april_fools_day_petition_to_make_this/) + +I have it on good authority that the majority wants this rule in place. + +**So tomorrow, April first, if you are caught breaking this moratorium, then you will be banned for 14 days. There will be no exceptions.** + +Thank you for understanding -B\_T + +—--------------------------------------—-------------------------------------- + +# r/Place + +r/place is back yet again. In 2017 it was a 3 day event where there was a blank canvas and everyone was able to add a pixel with a time restriction in place before they could place the next. People can also “paint over” the pixel you’ve placed - therefore it becomes a constant battle over the days it’s open ([recent r/place post here by radmin](https://www.reddit.com/r/reddit/comments/tqbf9w/bringing_back_rplace/)). + +Therefore it becomes a community effort to essentially create the desired image, combating with other communities for space, creating alliances - all the fun stuff. We have one of the (if not the most) active communities on Reddit. + +As such, we hope you’ll join us in making sure GME gets its rightful place on the canvas. The first pixel will be located at 741, 741. + +&#x200B; + +https://preview.redd.it/1jmojcx20tq81.png?width=780&format=png&auto=webp&s=76064c2b6910d3236e64d9af1b9b90ccbce5f6aa + +&#x200B; + +[Location of said image on the old r\/place canvas result. It's in the bottom right.](https://preview.redd.it/e6elnil80tq81.jpg?width=1000&format=pjpg&auto=webp&s=650c183b0481d2485d17dd2abd80058f05142458) + +Huge shout out to u/DisproportionateWill, [u/ChippThaRipp,](https://www.reddit.com/user/ChippThaRipp/) and a large cohort of people who’ve created such a detailed plan: + +This is something that requires fast-paced coordination and communication. There’s also a strategy associated which you can check out below. + +—--------------------------------------—-------------------------------------- + +# Discord + +As such, we’ll have a channel dedicated to r/place on our discord server: + +[https://discord.com/invite/hgJmtEeJ](https://discord.com/invite/hgJmtEeJ) + +So, please join the discord server and let’s smash this out of the park. + +—--------------------------------------—-------------------------------------- + +# Strategy + +Beginning of [u/ChippThaRipp](https://www.reddit.com/user/ChippThaRipp/)’s [post about the strategy](https://www.reddit.com/r/GMEPlace/comments/tt6mty/updated_gme_rplace_strategy_please_provide/) (there are more details within about how r/place actually functions): [https://www.reddit.com/r/GMEPlace/comments/tt6mty/updated\_gme\_rplace\_strategy\_please\_provide/](https://www.reddit.com/r/GMEPlace/comments/tt6mty/updated_gme_rplace_strategy_please_provide/) + +Efforts will be prioritized based on the position of a component within the image above, this is to ensure that we get at least one key component on the canvas as it’s a large undertaking and we’re unsure how many people will actually help out (hedging our bets). + +* **Priority 1: Gamestop Logo** +* **Priority 2: GME Ticker** +* **Priority 3: DFV** +* **Priority 4: Loopring and Immutable** + +Please check out the post from Ripps above, as it goes into A LOT more detail. + +I’m sure many people with have lots of different feedback, bring it to the discord - it’ll be chaos, fun chaos though. As said before, people have put a lot of effort into coming up with this design and building out the strategy, so if you do have feedback - try to make it actionable straight away as things will move fast. + +With that all said, let’s have some fun. Don't forget to join our discord to help out! [https://discord.com/invite/hgJmtEeJ](https://discord.com/invite/hgJmtEeJ) +What makes this one different? It inverted this year, everyone screamed “recession” for a week and then went back to relative positivity, right? Why are things riskier now- if they are? +Read a book on econometrics just now and it seems quite interesting. But a lot of it are nonsense to me so I want to start from the beginning. Where should I start? + +Fyi I still haven't declared my major right now but am leaning towards math, so you could say I have a relatively solid background in maths. + + +Under the terms of the transaction, each outstanding share of Aetna common stock is being exchanged for $145.00 in cash and ***0.8378 shares of CVS*** Health common stock.  CVS Health is not issuing any fractional shares in the transaction. Instead, the total number of shares of CVS Health common stock that each Aetna shareholder is entitled to receive is being rounded down to the nearest whole number, and each Aetna shareholder is entitled to receive cash for any fractional share of CVS Health common stock that the Aetna shareholder is otherwise entitled to receive. + +The transaction values Aetna at $212 per share or approximately $70 billion. Including the assumption of Aetna’s debt, the total value of the transaction is $78 billion. The combined company's shares are listed on the New York Stock Exchange under the ticker symbol “CVS.” The Aetna brand name will continue to be used in reference to the health insurance products. Going forward, Aetna will operate as a standalone business within the CVS Health enterprise and will be led by members of its current management team. + +It says it did not issue any fractional shares, but how was shareholders of Aetna given 0.8378 share of CVS? where did the share come from? +I can see in my BTC/ETH trade history that the perpetrator first sold my BTC for ETH. + +* There is no withdrawal history entry to indicate that it happened. +* No confirmation mail was sent to confirm the transaction(s). +* The IP addresses tracked are located in **Kiev, Ukraine**, where Liqui is based, and also Moscow, Russia and some other Ukrainian cities. + +This leads me to believe it's possibly an inside job or at least by someone with admin rights. Maybe Liqui's offices/databases were compromised. I opened a ticket and I am currently awaiting a response from them ASAP. + +PSA: Don't be a fool like me and enable 2FA (I always do this but I somehow missed it on liqui.io specifically) + +If anyone can notify them in other ways, please do so. +The saying "history doesn't repeat itself but it sure rhymes" has been iconic whenever it comes to investing. This, however, will be the almost exact cause to the 2008 housing crises, but maybe play out a bit differently. Its called "Rent-backed Securities"(RBS). + +Let's start from RBS's inception. Back in 2013 there was a new "hot" investment strategy that was created by Blackstone Group (BX) that would purchase a single-family home backed by its formula of how likely the house would rent out for and create what can be considered a "good cashflow" buy. These rental properties are then bundled from 100 to thousands of rental properties within a single RBS and would be sold as the total asset value, immediately returning the initial invested cash value to buy more rental properties to bundle and sell again... Sound familiar right? + +Blackstone realized that they would need to create a second company which would then manage these rental properties to ensure that their investment continues and investors stay happy with their returns, which Blackstone named "invitation homes" (we will get back to this and why its important later). Since Blackstone's initial investment, there are now over 30+ competitors whose sole purpose has been doing just that. + +Since 2013 many proponents of RBS's say that it is a great idea to bring back the housing economy and in a strong way by supplying the demand of foreclosed homes while landing a win for yield craving investors desiring predictable cashflow. + +Fast forward to today, we are seeing a dramatic increase in these investments with what we can call "free money" at 0% interest rates causing the housing boom right now. So much so that "1 in 7 homes bought this year have been purchased by wall street, 1 in 5 starter homes this year have been purchased by wall street, and for apartments 1 in 2 are owned by private equity" - [Link here](https://survivingtomorrow.org/1-in-7-homes-sold-last-year-was-purchased-by-wall-street-71e6356dea29) of more stats. + +So why should we care? This is after all large corporations owning the assets this time right? There is no way that its going to be as bad as a family that cannot afford their mortgage... + +Well here is the thing, let's take "invitation homes". Lets say hypothetically, they stop enticing investors, and their RBS's are no longer paying out worthwhile yields, which could be a result of a multitude of poor management decisions like forgoing inspections, ignoring critical issues in housing expenses to fix, overpaying for the houses themselves or anything that hurts the bottom line of increasing cashflow and lowers the chances of having a tenant in the home. Invitation homes would have no choice but to declare bankruptcy. What this means for those living in the houses would be that they are immediately evicted. You could have paid your monthly rent on time, every time but it wouldn't matter, you're out. In Invitation Homes case this would be a little north of 76,000 homes or 191,000+ people on the streets, homeless, with the snap of a finger (average household being at 2.52 per home). Keep in mind this is 1 of 30+ companies. + +I can't tell you when this will happen, but what I can say is that once it does, people will say that it was unexpected, out of the blue, etc. I am not telling you what to buy or sell, but rather to look for the signs of cracking. Once inevitable the likely signs will be looking for news stories of Single-home management companies, or I-buyers, looking to avoid bankruptcy. + +Also I have to mention to not take this as financial advice. If you want to learn more, feel free to google anything mentioned above and continue to go in further, there are a ton of things I didn't talk about. +As the title says, Facebook has lost hugely since the meta rebranding and since they announced their metaverse ambitions. Some part of the loss is also due to other factors such as new Iphone and EU privacy changes, but a large part wall street simply doesn't believe in the metaverse plan. + +The question then is, are facebook ready to take a loss while the metaverse is being built, or do you think they will soon announce the closure of the project? Did meta actually have a solid business plan for this investment, or is it just the misguided dreams of their nerdy founder who wants to see himself as the overlord of a new digital world? +I saw [this article](https://gamerant.com/gamestop-black-friday-leak-customer-info-data-breach/) on a gaming console sub and half the comments were lambasting GameStop and half the comments seemed like apes defending GameStop. + +I read the article and was confused and read several more and saw that their sources cited were REDDIT AND TWITTER COMMENTS. + +Well that's FUDDY as hell already. + +I searched on this sub to try to find more information but there was nothing. + +So I made [this post](https://www.reddit.com/r/Superstonk/comments/z632hd/saw_this_trending_in_a_console_sub_claiming_the/) and was downvoted pretty much to oblivion but one comment (which was deleted but idk why) linked to a Twitter user who [had messaged GameStop directly about the issue](https://twitter.com/kyl0z3n/status/1596590021515292672?s=46&t=6kfaM8NRWxsSDHqdRNwOWw). As you can see it was simply randomized test data created by GameStop, NOT real information and the "leak" was simply a glitch that exposed it to the users. The issue was resolved within a day and it makes sense they didn't make an announcement because it wasn't a big issue and there were no damages. + +Now, there are many comments on Twitter and various subs talking about this and reposting very FUDDY articles. Many of the comments are saying VERY similar things that don't make sense. For instance, a Twitter user claims that they saw their friend's credit card information pop up. Like....how tf? The chances of someone you know popping up would be insanely slim, and if it was just their credit card how would you ever think to verify that it's your friends???? I guess MAYBE if it had their name or address attached but it all seems fishy. + +At any rate, after looking through this a bit it seems like a concentrated effort to put out unverified and unsubstantiated claims to allege some kind of large data breach or that your data is unsafe with GameStop when this is obviously not the case. It's FUD through and through and highly sus they're popping up everywhere all of a sudden saying the same things. It seems like someone wants to sow fear into using the GameStop website. + +This makes sense because GameStop is moving into becoming an e-commerce powerhouse. Shorters who want GameStop to fail would want customers to be afraid of giving their data and buying through GameStop. + +I have never had issues with the website and have been impressed at the quality of service I've received when purchasing items through it after RC's turnaround. + +Anyways, wanted to give everyone a heads up. + +Buy, Hodl, DRS, NFA, etc. etc. + +EDIT: I wanna add that it's sus as hell that the author's of those articles NEVER REACHED OUT TO GAMESTOP DIRECTLY FOR COMMENT. Even a regard like me knows that's basic journalism yeesh. They literally pumped out articles based on random social media comments. +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 +Hey guys it's me again and I'm here to share with you an update about this new project I'm in, ElongF. For those of you who missed it, I talked about the key fundamentals of the project the other day. [**Click here**](https://www.reddit.com/r/CryptoMoonShots/comments/n394d2/elongf_under_1m_mc_frictionless_and_yield/) if you want to take a quick read. It's been a wild ride since then and the team is now starting to work on the project's marketing. We all love a good marketing right?! + +🚀 **SO WHAT'S NEW???** 🚀 + +The team has executed multiple initial marketing plans with smaller YouTubers, TikTokers, and generally influencers over multiple social media platforms. Check out the links below! More are coming within the next few days! + +* [ElongF YT Review by Umar Khan](https://www.youtube.com/watch?v=ENKiJbcZdPc) +* [ElongF TikTok Review by InfoOnCrypto](https://vt.tiktok.com/ZSJDYmDvE/) + +They also made their OWN SONG (hell yeah!!!!) for Elon's Girlfriend Grimes, with a really nice touch of a personal message to her through lyrics, and now, they are looking into ways to promote it and spread it everywhere possible for the world to hear! CHECK IT OUT BELOW AND DON'T BE SURPRISED IF YOU HEAR THIS ON YOUR LOCAL RADIO STATION YA HEAR ME?!!! + +[**ELONGF song by our community member INFINITY**](https://www.youtube.com/watch?v=u8_V2NsYAdE) + +The team's upcoming plans are to continue **promoting the token and video with the help of much bigger influencers**, as well as make **partnerships with multiple other cryptocurrency projects** and potentially make a **music video** in the future. + +When it comes to the project, **yield farming** will be coming soon alongside **active staking** which will further help with the marketing since the team is trying to give the token many use cases and give it utility and also potentially creating another complementing coin to build an ecosystem. + +IDK about you guys but this project sounds BULLISH AF to me!! We are currently sitting at 250K **market cap** so **IF YOU ARE READING THIS RIGHT NOW, YOU ARE STILL VERY EARLY!!!** + +**PANCAKESWAP TOKEN ADDRESS:** + +0x7c1ec1cbd131c9a492c973717172fdbd8925aba5 + +**IMPORTANT LINKS:** + +[Website](https://elongfbsc.com/) + +[Telegram](https://t.me/elongf) + +[BSCScan](https://bscscan.com/address/0x7c1ec1cbd131c9a492c973717172fdbd8925aba5) + +[Twitter](https://twitter.com/elongfbsc?s=21) + +Remember to DYOR guys and happy trading! 😎 +After the 2008 crisis the UK's GDP per capita in particular wasn't able to recover from the crash and never again reached the heights it did then. Will this pandemic be the same? +I am far from an expert, but I would imagine that runaway profits would drive stock prices up. However, despite big earnings, overall company value seems to be going down based on stock price. Are these two factors not as related as I thought? +Hello Fellow Redditers and Cryptocurrency investors, + +Digital currency is tumultuously fermenting. Many people on this site are discussing what moves to make with their ETH, BTC, etc. It is during times like these that I like to remind people of the Greater Fools Theory. I fear this is causing the current direction of Cryptocurrencies, and I urge people to get back to focus on what cryptocurrency was created for... PAYING FOR THINGS. Only then will it have true intrinsic value. + +THE GREATER FOOLS THEORY is a Financial theory that states, **A price can be justified by a rational buyer under the belief that another party is willing to pay an even higher price.** Simply put it means a reasonable investor could buy something that has no value only because s/he thinks someone else will buy it later for more. This almost always leads to a bubble and a crash. + +If we all want cryptocurrency to succeed, we must ensure it builds intrinsic value. We must demand that retailers accept it as payment, we must USE it, not just INVEST in it. Next time you buy something from an online retailer, just ask them, "How can I pay with *Ether, BTC, LTC, etc?". + +TL;DR People buy cyrptocurrency only because they think they can sell it later at a higher price. It won't be worth anything until people start using it. + +Disclaimer: This is meant as a partial point of view, not a law. I ultimately BELIEVE in the utility of digital currency and am invested in it. This was more of a cry to the community to use it, not just invest in it. +**Tl;dr:** There was a 2015 blog post on BCG's website about their transformation plan for PulteGroup, apparently as recently as April 7th. It is no longer there, but [here's the Wayback Machine link.](https://web.archive.org/web/20220407185915/https://www.bcg.com/publications/2015/value-creation-strategy-pultegroup-transforming-business-model) + +Alright so I wanted to learn more about this Pulte guy that's suddenly all over the sub and...look just put on your jammies and grab your tin foil. We're going for a ride. + +I stumbled across [this](https://www.youtube.com/watch?v=UhrqjgGS9rI) video from 2016, wherein Bill is interviewed by Superstonk's favorite financial pundit about whatever boardroom battle Pulte was swept up in at the time. In it, Bill mentions the name of the CEO, Richard Dugas, with whom he had some disagreements. I remembered Bill has been posting vaguely about some bad executive that brought BCG on and wondered if this was our guy. So I plugged "Richard Dugas BCG" into good ol' DuckDuckGo and the 4th result that popped up was a blog post from BCG's website. "PulteGroup: Transforming the Business Model," it read. "Neat," I thought. But when I clicked the link it just redirected me to the BCG homepage. + +So I opened up a new tab, brought up the Wayback Machine and plugged the link from DDG in. Lo' and behold, the page had been archived a few times since 2020, the most recent of which came on Thursday. Thursday also, weirdly enough, being the day RC liked Pulte's tweet. + +"Well maybe they just made some changes to their website. Maybe they just got rid of some old archived blog posts. Or maybe they changed the site map, so the post still exists just somewhere else that hasn't been picked up by the web crawlers yet." But nope, that doesn't appear to be the case. If you search for "PulteGroup" on BCG's website a couple of articles mentioning PulteGroup pop up. [All from 2015, all with the same authors.](https://www.bcg.com/search?q=pultegroup) But not that one. + +So, yeah. Seems like at some point between Superstonk becoming aware of Bill Pulte's existence and, well, now, BCG tried to scrub a Pulte related blog post from their site. [Here's the internet archive link again.](https://web.archive.org/web/20220407185915/https://www.bcg.com/publications/2015/value-creation-strategy-pultegroup-transforming-business-model) There's a lot of talk about "value creation," some nice pictures, a discussion of optimal floor plans. Real exciting stuff. Probably nothing, though. +Hi Can you tell me if were a beginner trader what style of trading would you learn first??? + +Scalping Swing trading or trend trading ??? + +I want to focus on one style at first only.Can you recommend what style is the "best" for beginner trader and do you think that S&P 500 as reasonable chart to start learning on/with??? + +I would love read some experienced traders opinions on which style is in your opinion "beginner friendly? + +Best regards +My wife (F26) and I (M31) have just bought our first house together and while it’s been stressful at times, like waiting for our offer to be considered by the vendor, then waiting for our mortgage to be approved, it’s all been a positive experience. + +However, I never even considered taking a mortgage with Barclays and this is why. + +This is more of a rant about my own personal experience with Barclays when I was younger, but I feel it's relevant. + +————————————————————��——————————————— + +When I was 16 (Circa 2006), I started an apprenticeship at an IT company which paid me £80 a week plus travel expenses. The first weekend after I started, I went to my local Barclays branch and opened my first proper bank account (I’d previously had an NS&I ‘Post Office’ account when I was a child). + +I didn’t choose Barclays for any particular reason. Their branch had been newly refurbished and looked modern so maybe that was a deciding factor to 16-year-old me. + +The staff were polite and helpful and opened an under-19’s account for me which had no fees, no overdraft and a debit card which I could use at cash machines, online and in shops. + +I never had a problem with it. For over a year, my apprenticeship wages went in, I bought my lunch and train tickets with it, and went out at the weekend with my girlfriend and bought CDs, clothes, etc. + +A couple of days after my 18th birthday in late 2007, I received a call from my local Barclays branch inviting me in for an ‘Account Review’ meeting. I agreed and went in that Saturday. + +I was taken into a small glass office opposite the counters. The staff member explained to me that now I was 18, I could ‘upgrade’ my account from an under-19s account to a regular adult current account. I was told that this would ‘enable’ me to have an overdraft, apply for a credit card, have a cheque book and over time build up a credit file. + +I wasn’t sure and said I’d like to go home and think about it - maybe discuss it with my parents - but immediately she brought in another member of staff who went over the benefits again. + +The second member of staff then told me that if I paid £10 a month for the 'Current Account Plus' (I’ve forgotten the exact name of it) that would give me a free £100 overdraft, AA breakdown cover, ‘room insurance’ (Which never would've covered me for anything because I still lived at home), international money transfers etc. - all of which I had no real use for apart from maybe the £100 overdraft. + +I explained that I didn’t have a car, but this was quickly dismissed with + +**“It doesn’t matter, if you’re in your mate's car and he breaks down, your AA cover will help him too!”** + +Still unsure, I said I’d like to think about it. He then told me that if I signed up today, he’d give me the first month for free and that way if my parents said it wasn’t a good idea, I could cancel it within a month and it wouldn’t cost me anything. + +I agreed, reluctantly because of pressure-selling, and signed up. + +I completed the forms, which I was given a copy of, and a few days later a new debit card and cheque book arrived in the post. + +Later that month, I bought a couple of Xbox 360 games that I wanted. Now I knew that I might not have enough in my account, but I had the £100 overdraft that I’d been signed up to. Also, I was no longer an apprentice and so my monthly wages were due a few days later, so to me, it wouldn’t do any harm by buying them today and then letting £50 of my wages pay off my overdraft. + +So I bought the games, and also bought lunch for me and my girlfriend, along with a few other small transactions (a magazine in WH Smith, a can of drink in Tesco, etc…) + +Payday came a few days later and when I checked my balance at the cash machine, something didn’t quite add up. I knew how much I was due to be paid, and I knew that I’d only spent about £75 of my overdraft. + +But my account had about £100 less than it should. I didn’t have internet banking, and this was before mobile banking, so I went into Barclays and asked to see my transactions. + +For some reason, every transaction since (and including) the Xbox games I bought had**“Account fee - £10”** immediately afterwards. + +These fees added up to a total of £90 for 9 transactions. Some of the purchases were for less than £1. + +I asked to speak to someone and so they sat me down at a desk and explained to me that because I had insufficient funds in my account, they were charging me £10 for every transaction. I told them I had been given a £100 overdraft just a couple of weeks earlier, but I was told that while I was a current account plus customer, I had no overdraft. + +At the time I thought this was a simple mistake on their part; they had forgotten to add it on. + +How wrong I was. + +I was told that the overdraft, which came with the account, was subject to a credit check and I didn’t qualify for the overdraft. This wasn’t because I had a ‘bad’ credit rating; I’d never had credit before in my life. + +I told them that I never received a letter to tell me this and I was told I wouldn’t have received one - I’d only receive a letter confirming my overdraft if it was successful. + +I asked why they didn’t just decline the transactions as they did before when I had an under-19s account and I was told some scripted story that they don’t check the account balance when I make a transaction as it’s my responsibility to make sure I have the correct funds in my account; in fact, I should be grateful that Barclays allowed the transactions to go through because at least I was able to ***checks the screen*** spend £49.98 in GAME. + +I was confused and worried because £90 was a lot of money for me at 18. + +I asked if the bank would refund the charges as this was a simple misunderstanding about this overdraft I thought I was paying £10 a month to use. Before I’d even finished talking she just smiled and started shaking her head. I remember her reply as clear today… + +**“You’ll just have to learn to be more careful next time.”** + +I left the bank feeling sick. I felt as if I’d just lost my wallet with £90 inside, but I knew who’d taken it and they wouldn’t give it back. £90 is a lot of money when you only earn minimum wage at £5.52 an hour. + +When I got home, I started looking at other accounts online and decided the next day that I’d open one with Nationwide. + +With Nationwide, there was no hard sell and they confirmed that if I didn’t have an overdraft and I had insufficient funds, the transaction would be declined. The only thing I’d be charged for were failed direct debits and ‘bounced’ cheques. + +I transferred my remaining funds to my Nationwide account a few days later once the card arrived and then closed my Barclays account, to which they didn’t protest or make any attempt to persuade me to stay. + +———————————————————————————————————— + +Imagine if this had been different. + +If almost 14 years ago, Barclays had been understanding and said that although I hadn’t been given the overdraft that was so heavily sold to me, and they had refunded me my £90, that would’ve left me with a life-long positive opinion of them of being fair and reasonable. + +This means that I would have chosen to keep my Barclays Current Account, and among many other things, applied for a mortgage with them 14 years later. + +But instead, their contemptuous behaviour and lack of support for a young person who simply agreed to upgrade a current account - which was their suggestion to start with - meant that instead of earning a \~£1,000 product fee, plus mortgage interest for at least 3 years (fixed-term) which will amount to about £20,000 - they made just £90 and alienated two customers for life; my wife certainly doesn’t want to open a Barclays account either! + +I'm aware that a few people will agree that Barclays were right to charge me £90, but this isn't so much about the fine print and bank charges, as it is about building and maintaining trust with customers - even if they are just an 18-year old earning minimum wage. +I'm still early in my FIRE journey, but one thing that I struggle with is life long planning for my intellectually disabled son (4 yo) who may never be independent. + +How do you guys deal with this? From a short-medium-long term planning POV. + +From a financial POV. + +Emotional POV. + +Day-to-day needs POV. + +Caretaker/guardianship after your death. + +So many unknowns, it's truly the only thing that is on my mind. +Hope you enjoyed this fun ride. I will post some more fun cc stuff. Any questions or concerns please call our customer service at...... + +https://preview.redd.it/cl9lvle8wuu71.png?width=1504&format=png&auto=webp&s=86b38edcdd2e722e0cf3ab7232deb38564017cbb + +https://preview.redd.it/4we3ole8wuu71.png?width=1574&format=png&auto=webp&s=f8d13a38bb1d146329173d598cf7ac177e54284c + +https://preview.redd.it/rhsl9ne8wuu71.png?width=1426&format=png&auto=webp&s=0efde51f7638100146d998b79248f91041f44dab +EDIT 2: Please see the new post, which contains an update about the situation I'm in: + +&#x200B; + +[Recent post about me being held financially hostage (18f) by my brother : povertyfinance (reddit.com)](https://www.reddit.com/r/povertyfinance/comments/u55za7/recent_post_about_me_being_held_financially/) + +&#x200B; + +&#x200B; + +EDIT: Thanks for the encouraging comments, I'm catching up with them and I know something was up but I could not locate the faults in my life, due to always being exposed to them. I guess I'll have to seperate asap and cut ties at least to my brother, whilst making sure my mom is safe n sound + +&#x200B; + +&#x200B; + +Hello, I really need advice... + +&#x200B; + +my family is very divided, there is only my mother who is almost 60 and my brother who is 30. + +&#x200B; + +There is no inheritance or other financial security. My brother is of the opinion that due to the fact that I spent my 18 years of life (I am 18) with my mother, I am in a blood debt and was provided for with shelter and food, etc. + +&#x200B; + +My brother and my mother wanted to buy 4-5 years ago an apartment for 200,000 dollars, with a loan that runs only for 10-12 years. You understand what a big financial burden that is. That did not work out so far, they're still looking afaik + +&#x200B; + +My brother works a maximum of 19 hours a week and earns around 1300 to 2000 dollars a month. My mother works full time and earns 2500 dollars... He is not willing to maximize his hours to 40 a week because the tax burden makes him earn less, so to speak, for his work. This is his explanation... + +&#x200B; + +Now that I'm planning to go to college and already looking at moving away afterwards, he's threatening me with suicide, since it didn't work out to take out a big loan with my mother 4-5 years ago and he can't get one approved, since our mother is almost 60.... He wants to stay with her all his life and when she is dead, kill himself. + +&#x200B; + +He absolutely wants that I as soon as I have finished my studies, fulfill my blood debt to my mother to help him get a loan, so he and my mother can get an apartment (which in this area are already a 250-300k pricing)... Otherwise, he'll kill himself as soon as she's dead, due to fear of old age poverty. + +&#x200B; + +That would be an immense burden on me, as I feel like I'm helping them at the expense of my ability to pay. What if I don't get a job? Or become unemployed? I would not be able to pay off the loan and even worse, I might not be able to pay for my own rented apartment... And if I don't help him get a loan, it feels like I'm betraying my mother. + +&#x200B; + +I honestly don't know what to do and I need your opinion, whoever reads this. It seems that I am forced to give my brother a luxury of a lazy life while I do everything I can to improve my financial situation and still get fudged. I would always support my mother... + +&#x200B; + +Am I the asshole for... not wanting to contribute to a loan? My mother and brother currently reside with me in a trailer park, with neighbours who she does not like. She'd be fine with renting a little more expensive place to have a better QOL and not reside in a trailer park no more. Meanwhile, my brother is urging her to stay, or at least to not pay more for another place. + +&#x200B; + +I dunno what to tell my brother, or do... I feel so torn... Like, I feel manipulated. But I dunno... + +&#x200B; + +sry for errors yall, im writing this in panic +The infamous goal is to be the strongest BSC community rest assure they have plans ahead that can almost assure us we will be headed in the right direction to achieve this. ⏳ ⏳ +The developer has previous project which all have been successful join what's to be the strongest community on BSC and telegram! ---> [https://t.me/InfamousOfficial](https://t.me/InfamousOfficial) 🚀 +please read their pinned messages and avoid purchasing any tokens not pinned in the telegram to avoid scams. 💳 +You don't want to look past this one I hear they will have partnerships with credible projects and upcoming BSC bangers! +💰 Now the Team has notified me that they will have a marketing section so you can see they are actually serious and not a pump and dump like all the coins on this thread. 💰 +If your tired of getting into projects at the tops and worrying about a dip , then this one shouldn't be a problem because even if you buy the top at least you know you have a product behind it and not just a loss of money. NFA + +🌏 Website: [https://infamousbsc.network/](https://infamousbsc.network/) + +🌌 Twitter: [https://twitter.com/INFAMOUS\_BSC](https://twitter.com/INFAMOUS_BSC) + +💰 Contract: 0x044Ac54Aa258Fcb7f0E236da1a9e4899171544cB + +📌 Buy on PancakeSwap (use V2): [https://exchange.pancakeswap.finance/#/swap?inputCurrency=0x044ac54aa258fcb7f0e236da1a9e4899171544cb](https://exchange.pancakeswap.finance/#/swap?inputCurrency=0x044ac54aa258fcb7f0e236da1a9e4899171544cb) + +🔥 LP Burned: [https://bscscan.com/tx/0xc610ac1abd587573b3ed471e95b5fe966897e09b9b128fbe993d02a64ae231f0](https://bscscan.com/tx/0xc610ac1abd587573b3ed471e95b5fe966897e09b9b128fbe993d02a64ae231f0) + +✅ Ownership Renounced: [https://bscscan.com/tx/0x0baec822196a80d2bd7d3c385586886478cfbfaaeb994af318cb768d722342b8](https://bscscan.com/tx/0x0baec822196a80d2bd7d3c385586886478cfbfaaeb994af318cb768d722342b8) + +📈 Charts: [https://poocoin.app/tokens/0x044ac54aa258fcb7f0e236da1a9e4899171544cb](https://poocoin.app/tokens/0x044ac54aa258fcb7f0e236da1a9e4899171544cb) + +🎯 Telegram: [https://t.me/InfamousOfficial](https://t.me/InfamousOfficial) + +🔥 Ownership Renounced & LP Burned. +🖖 Early, Easy Pumping & Community Launched. +🤝 Fair distribution. Active devs ready to answer any questions. +💵 LP tokens have been locked thereby shutting the initial liquidity away for safety. +🐳 Anti-Rug & Anti-Whale. 100% Safe. +The article in question. We've all seen it. Here it is as it stands today + +https://www.marketwatch.com/story/gamestop-stock-was-reaching-new-heights-but-shares-in-the-meme-stocks-just-plummeted-11615398208 + +Last Updated: March 10, 2021 at 4:47 p.m. ET +**First Published: March 10, 2021 at 12:43 p.m. ET** But wait, we all remember it before right? + +The article on the [waybackmachine](https://web.archive.org/web/20210101000000*/https://www.marketwatch.com/story/gamestop-stock-was-reaching-new-heights-but-shares-in-the-meme-stocks-just-plummeted-11615398208). Good job everyone! 18 captures the day it was published, 13 the next day and another 7 the following day. + +[The very first capture - March 10th 2021 - 17:46:39 GMT](https://web.archive.org/web/20210310174639/https://www.marketwatch.com/story/gamestop-stock-was-reaching-new-heights-but-shares-in-the-meme-stocks-just-plummeted-11615398208) + +First capture was 17:46:39 GMT = 12:46:39 EST. **Wait. That's after the crash and after the article was first published.** + +We need to dig more + +------- + +#What "evidence" do we have? + +This is the one of first mentions of it and it has a pic, not just memory. @DavidNio on twitter - https://twitter.com/MrDavidNIO/status/1369733681259053061 + +Has a pic with the article at the time stamp **11:55AM EST** - We got something! 11:55am est is 100% before the crash! + +Where did that pic come from? E-trade. [Here is the full article through E-trade](https://imgur.com/a/5XI0ZD1). Notice anything? Look real close at the top of the article + +> March 10, 2021 **11:55 AM EST** + +Now look real close at the end of the article (screenshot #4) + +> March 10, 2021 at **12:55 ET (15:55 GMT)** + +Wait.... 12:55 ET? What happened to 11:55 AM EST? That's 1 hour difference... that's 1 hour later.... that's AFTER the crash. + +Something is going on here so like a good ape, I checked a totally non-GME related article the very next day. + +#Reproducing the GME timestamp difference with an unrelated article + +*(I originally did this on March 11, 2021. The issue now is that the link of the article I used has the word -V-A-X- so automod removes it. Here are pics. You can still find my original working links if you put this into google "m339rp/yesterday_i_said_there_was_no_proof_or_evidence")* + +[Non-GME related stock story on MW on March 11 2021](https://i.imgur.com/xNTUqbt.png) + +Original link broken so you can check if you want + +marketwatch.com/story/novav**(delete this space)**ax-stock-rallies-on-covid-19-va**(delete this space)**ccine-study-results-11615497684?mod=wallace-witkowski + +*(archive link also has V-A-X in the link so it's also a no go here unless mods approve it)* + +Broken archive link: add https://web.archive.org/web/20210311214750/ before the working https://www.marketwatch.com/story/novav..... link + +What's the timestamp on the non-GME related article? + +> Published: March 11, 2021 at **4:21 p.m. ET** + +Okay. [Now let's look at the same article through E-trade](https://i.imgur.com/F597cqM.jpg) + +Top of the article timestamp + +> March 11, 2021 at **3:21 p.m. ET** + +**Wait. That's 1 hour earlier than the timestamp on the article. That's the same 1 hour difference that GME was.** + +End of the article timestamp + +> March 11, 2021 at **16:21 ET (21:21 GMT)** + +21:21 GMT = you guessed it, 4:21 PM EST. The same time as the MW article, but the same 1 hour difference from the timestamp at the top of the screen. + +REMEMBER THE ONLY TIMESTAMP WE HAD FROM @DAVIDNIO WAS AT THE TOP OF THE PAGE. We have now established this timestamp is 1 hour off. **1 hour early** to be exact. + +#More evidence + +The article link itself + +marketwatch.com/story/gamestop-stock-was-reaching-new-heights-but-shares-in-the-meme-stocks-just-plummeted-**11615398208** + +Those numbers at the end are a publish timestamp. Remove the leading 1 and you get **1615398208** which when put into a [unix time converter](https://www.unixtimestamp.com/index.php) we get **Wed Mar 10 2021 17:43:28 GMT+0000** + +What does 17:43 GMT convert to in EST? Any guesses? 12:43 pm EST. [Oh ya, this was pointed out on day 1 in the @DavidNio post](https://i.imgur.com/aY7Aw2v.png) + +So unless they hijacked the unix timestamp, that article was published at 12:43 pm EST, which is after the crash. + +#Even MORE evidence + +[Then what are these headlines and timestamps?](https://i.imgur.com/50fosuv.jpg) Again, this is through e-trade. Remember the 1 hour difference we established? So what are those? Deleted stories republished? Nope. Just like the headlines say, they are simple article updates. [I got a hold of the writer on March 11th and asked them some questions.](https://i.imgur.com/Vi54u1k.png) + +> The story we **published at 12:43** noted "three halts between 12:20 and 12:40" + +E-trade shows timestamp at 11:43. 1 hour early + +> We **updated at 12:53 and 12:55**, we updated to "five halts between 12:20 and 12:50" + +E-trade shows timestamps at 11:53 and 11:55. 1 hour early + +What about those halts? [I also took a screenshot of those the next day cause I like documenting proof, not just trying to remember the exact timelines.](https://i.imgur.com/sEt7Bdo.png). You can [check them today](https://www.nasdaqtrader.com/Trader.aspx?id=TradingHaltSearch) if you want + +So EVERYTHING matches up with a 12:43 timestamp EXCEPT the etrade pic which all indications point to it being 1 hour early. + +#okay, but why is google off? + +Cause google sucks. Well actually, as [Danny Sullivan](https://twitter.com/dannysullivan) - Google's public [@searchliaison](https://twitter.com/searchliaison) says, dates are hard (non GME related) + +> I'll pass this on. It's very common that time stamp issues can happen for a variety of reasons, such as embedded time stamps having wrong time zone, multiple times on a story and other reasons. + +https://twitter.com/dannysullivan/status/963899075438391298 + +> Yes, especially as it can cause confusion. Sometimes we can't control it. For example, a Miami publication had the right date and time but wrong timezone, making the story seem five hours earlier than when it published. Hard for us to fix on our end. + +https://twitter.com/dannysullivan/status/963933759912386560 + +> Because dates are hard, not universal nor absolute. Some pages don't have them at all. Some have them but only as embedded code & might not be right, like here: https://twitter.com/dannysullivan/status/963882801723359232 Some have multiple dates like here: https://twitter.com/dannysullivan/status/963918603409006592 -- it's an issue we'll look at more + +https://twitter.com/dannysullivan/status/963935332486885376 + + +Other non-google talk about timestamp errors on google + +https://webmasters.stackexchange.com/questions/90817/why-does-google-com-search-results-show-a-newly-published-post-as-2-days-old + +And politico asking what's up too + +https://stackoverflow.com/questions/43661314/time-is-displayed-wrong-is-google-search-for-politico-stories + +You can also go ask any conspiracy user about google timestamps. A handful of their conspiracies are cause of these timestamp errors. Let's be better than them, please! + + +----- + +I've debunked this before and will continue to, especially if we are sending it to the DoJ. We are literally sending a stupid timestamp error to the DoJ as one of our best pieces of evidence, yet all the evidence points to nothing being wrong! Holy shitballs!!!! + +Google search cause these were from another sub so I can't direct link. My original debunks with working links + +m2h7fs/there_is_no_proof_and_very_weak_evidence_of_the/ +m339rp/yesterday_i_said_there_was_no_proof_or_evidence/ + +#2 other independent debunks from the same time + +m2ih5m/wallace_witkowski_and_jeremy_c_owens_detailed/ + +m3ms6k/hear_me_out_the_marketwatch_prophecy_is_fake_news/ + + +----- + +Any evidence to debunk the debunk? Literally the only thing that says otherwise is people remembering, but not a single documented thing to support it. Do you really believe that is enough for the DoJ? I don't. Especially when the actual evidence points to this being nothing but a timestamp error on etrade. +# 0. Preface + +Hello apes. I am not a financial advisor and I do not provide financial advice. + +A few things need to be cleared up, since there's some, uhh, chaos. + +Options **are** extremely risky but **it is not** a demon-spawn that should be avoided like the plague. It is another tool at retail's fingertips just like DRS / direct registration. If you don't understand them, ignore the posts and do not participate in options. + +But, the discussion should not be muted entirely just because a few people YOLO'd into deep OTM CALLs with 0 delta and lost their life savings. That is not the fault of options. That is the fault of their misunderstanding or greed of the play. + +**If anything, this can hopefully at least draw eyes back on the Variance Swaps DD which has oddly disappeared from discussion lately.** + +[By fire be purged](https://i.redd.it/6g30aqd1j2081.gif) + +# 1. Clearing Some Stuff Up + +* No, you should **NOT** sell shares to play with options. I was hoping that was implied. I don't know how that idea spread around, but it is absolutely not something that should be done. It was a lack of foresight on my end to not state that immediately. + +&#x200B; + +* **DRS is the way** and in my opinion should be the #1 priority because it locks the float. Apes should keep on direct registering their shares as this puts pressure on the SHFs and MMs by reducing the amount of shares in their pool to borrow. + +&#x200B; + +* The reason that options are being floated around is because it can be used as additional pressure on the SHFs and MMs - especially for their Variance Swap hedge. I tried to touch on Variance Swaps in the previous post but I think it got overlooked heavily. I'll go into this for the next section. + +&#x200B; + +* I did **not** imply to bet on weeklies or short-term option plays. The strikes that I posted were simply a reference to show how options effect hedging versus buying shares outright. In fact, I personally would **NOT** do short-term plays (expiring within the next few 8 weeks). If you're trying to do short-term option plays, there's a good chance you will get burned. Pickleman ( /u/gherkinit ) and others are thinking that the [best strategy](https://www.reddit.com/r/Superstonk/comments/qra8h0/awesome_stream_with_gherkinit_and_houston_wade/) for the proposed [upcoming futures cycle](https://www.reddit.com/r/Superstonk/comments/quj97o/gme_evidence_of_predictable_cycles_gme_explained/) are ITM / ATM CALLs for February 2022. + * Does that mean to follow suit? No. Does that guarantee that there will be a runup next week? No. Do your own research first. The DD around the quarterly movements is pretty solid but it is not 100% going to happen. They can manipulate the price or avoid hedging completely next week to fuck over retail. But note that it is **well** away from November 23rd, so it's not a YOLO bet that will be destroyed by theta decay unlike weekly options. + +&#x200B; + +* I emphasized it in the original post but I should do so again: OTM options **WILL** feed the MMs your premiums. Buying a November 19th $800 CALL has a delta of 0.0009 so it is literally doing nothing. They do not have to hedge a single share for that contract. It should also be noted that **Wolverine is the Designated Market Maker for GME, so premiums would feed to them rather than Citadel.** While the OTM options are feeding them cash, it isn't exactly to Citadel. It's still bad don't get me wrong but it's a bit misleading. + +&#x200B; + +* You need to have an actual strategy to exit your option. You can't just slap the buy button for CALLs every week thinking "this is the week!" because you probably will lose all of your money. Various DDs have shown that the quarterly spikes are probable. So personally, those are the only times I would even consider betting on a CALL. Will the quarterly spikes continue on? **Especially now that these kinds of DDs are coming out and they know about them?** Not necessarily. We don't know what they are capable of to manipulate the price, if the previous quarterly movements were entirely faked out, or if they'll bite the bullet and simply not hedge that week of expected volatility. + +&#x200B; + +* There was a mistake on my end when describing the leverage of options. If you exercised your options, yes, you would receive 100 shares. However, due to delta, apes would not necessarily cause 100x shares worth of hedging for an ITM or ATM CALL. Using the GME $200 CALL expiring November 19th as an example, the delta is 0.7185 which means the Market Maker will hedge around 72 shares. Not 100. So while it's not as much leverage, it's still substantially more than buying shares outright. + +&#x200B; + +* Do **NOT** suddenly think, "I get it now! I'm going to buy up thousands of dollars worth of options!" after reading some DD. If you have little to no confidence, you need to read more. If you feel like you're confident, you need to read more. You need to continue doing your own research, and never invest more than you're willing to lose. **Because unlike buying and holding, you can lose the entire option premium which could otherwise be used for shares. Poof. Gone.** + +&#x200B; + +* Never ever blindly believe or follow a post just because a username is attached like my own. Read the content and judge it. + +# 2. Variance Swaps + +Note that the rest of this post is not my work. I am talking to /u/zinko83 as I write this so that we can summarize his thoughts on Variance Swaps which has oddly disappeared from discussion. Arguably **the** most accurate DD on the OTM PUTs we have been seeing is posted and vanishes from discussions entirely. + +The DD around Variance Swaps is the reason I even **considered** posting about options. If this is correct and what is happening, then it makes sense that Citadel would push retail to stay out of options since it makes hedging against their Variance Swaps cheaper and more predictable as long as retail fucks off. And therefore it is easier to control volatility in the stock to pin it towards max pain every week. + +I've been talking to /u/zinko83, [/u/MauerAstronaut](https://www.reddit.com/u/MauerAstronaut/), /u/Digitlnoize, and many other apes about Variance Swaps, but notably these three whom have all been digging into Variance Swaps for the longest time. Where /u/zinko83 posted about Variance Swaps not too long ago: + +[Volatility, Variance, Dispersion, Oh my! - /u/zinko83](https://www.reddit.com/r/Superstonk/comments/qmtt6q/volatility_variance_dispersion_oh_my/) + +**I highly suggest that apes brush up on the above post.** + +It is solid. It explains the Deep OTM PUTs we saw. It explains the strange option chains we see every week and max pain. It can explain why we see quarterly movements because they lose their hedging ability in certain weeks. It can explain why Citadel would have taken on Melvin's short position, because they got cocky and wanted to profit until retail got bored. + +The following is a diagram of a Variance Swap and what Citadel most likely entered: + +[Variance Swap Purchase by Citadel \(per \/u\/zinko83 DD\)](https://preview.redd.it/nrz4a1o5u2081.png?width=834&format=png&auto=webp&s=e657afbb5f8f3dc5465744c6c69baae9d57ba34f) + +The gist of the Variance Swap DD is that they've opened up Variance Swaps to bet on the volatility in the stock, and to use them as insurance against their short position. They then sell a replicating portfolio (it replicates the swap with options) into the market. Doing this hedges against the swap. + +Per /u/zinko83's findings, they're hedging Variance Swaps **every single week** with the options chain available via option Vega. This is literally [textbook spelled out](https://www.researchgate.net/publication/246869706_More_Than_You_Ever_Wanted_to_Know_About_Volatility_Swaps) that Variance Swaps are hedged via option Vega. In which they need to get **exponentially** more OI for the more OTM strikes due to Vega approaching zero. + +[Variance Vega Replicating Portfolio \(per \/u\/zinko83 DD\)](https://preview.redd.it/sojf4430z2081.png?width=572&format=png&auto=webp&s=a35669d694a062bdb7002d46f05f7778be005601) + +In the above: + +* A) A perfect hedge. Perfect across all strikes. This cannot happen in the real world. +* B) A non-ideal hedge. This occurs in constrained strike week options. Such as the week of November 26th. Notice how the highest PUT strike is $100 for November 26 expiration unlike the $0.5 strike for November 19th. The lower and upper bounds of (B) fall off, and it makes it so that the prices outside of the range is unhedged. +* C) An ideal hedge. A distributed Replicating Portfolio across all strikes. The ramp up you see in the image above is basically the OI required, increasing more as the strikes go more OTM. This is due to the smaller Vega on each contract the further OTM the strikes go. Which leads to an exponential increase in OI required to create the Replicating Portfolio. + +This applies both to CALLs and PUTs. Where as things go more OTM for either option, the amount of Vega drops, so more contracts are required to hedge against that strike. Which then essentially leads to an exponential curve on both sides of the chain as things go further OTM, but distributed out among strikes to achieve the Replicating Portfolio shown as (C) in the above rather than wasting capital on every strike possible. + +That explains the Deep OTM PUTs we were seeing such as the $0.5 strike. If you take a look at January 21, 2022 options, there is an **OI of 136,176 for the $0.5 strike PUT.** The only reasonable explanation for that is that it is a hedge, and the Variance Swaps lines up perfectly with the data we're seeing. In no way shape or form is someone betting that GME will go to $0.5 by January 21, 2022. + +**Variance Swap hedging also explains those smooth exponential curves of options that we see every single week when people post "max pain"**. They're using the options chain to suppress volatility of the stock and they **absolutely** want to avoid volatility since their swaps print when volatility is contained. And the main way they avoid volatility is by pushing retail to avoid options since they'd be forced to delta hedge the CALLs (with delta close to 1) that are purchased. + +They can easily hedge with option Vega with strikes between $0.5 -> $900 around monthly options due to a wider chain, which achieves (C). This allows them to clamp down the stock to avoid it shooting upwards. But the week of November 26th, the option chain will be more constrained and they'll be unable to fully hedge with option Vega for their Variance Swaps, leading to a situation of (B) in the above. Next week's strikes for PUTs start at $100 rather than $0.5, for reference. + +If the variance swap DD is correct, they'll be forced to start buying up CALLs next week to hedge, causing them to trade the underlying and unfortunately for them resulting in an increase the stock price. + +Additional information per /u/zinko83 himself: + +>Next week \[November 26th expiration\], the risk they are hedging with the weeklies is the “tail risk”. The closest expiry weekly chains are the most efficient way to hedge tail risk. +> +>Does that mean they always use the most recent chain? No of course not, as always it’s weighted pros vs cons. +> +>Last week \[November 12th expiration\] was a good example of them not using that chain and skipping ahead to this weeks \[November 19th expiration\] more favorable one to hedge. Probably a bit more expensive due to theta, but the cost of that theta probably was cheaper than letting the price action the previous two weeks go on for another week causing more risk that might have to be internalized which puts a strain on the balance sheet. + +The following post by /u/MauerAstronaut also goes into depth about the explanation behind the option chain "max pain" curves we see each week if you want to read more: + +[How Variance Swaps can explain OI in far OTM Puts and many other of the Weirdnesses that were observable this year. - /u/MauerAstronaut](https://www.reddit.com/r/Superstonk/comments/qoz68k/how_variance_swaps_can_explain_oi_in_far_otm_puts/) + +Speaking of /u/MauerAstronaut, he left a great comment which pretty much sums up the situation if you're looking for more of a TLDR: + +>I have made arguments against options in the past. This was mostly based on the fact that we had no clue what made the stock go up or down. However, researching variance swaps I came to the conclusion that demoting options might not be in the best interest of apes. +> +>This is not about gamma sQuEeZeS that options bulls came up with in the past. **This is about the fact that retail staying out of options makes hedging short variance exposure cheaper, easier to model, the stock becomes easier to control (less actual volatility), and also that SHFs absolutely want MMs to diamond hand the short options (in synthetic forwards), if any, that they sold to them.** Retail, and subsequently whales trading in the shadows, could fuck that up very easily by attacking at the right time. +> +>That said I don't recommend anyone play options unless you have an idea what you are doing. We have an ape specimen on our Discord who shows us everyday what happens when you trade on sentiment instead of data; the Dollar symbols in their eyes turn into GUH real quick. But it is important to learn this shit, and labeling it FUD isn't going to help anyone except the SHFs. (Also, there's absolutely bullish ways of playing options that are very safe, like selling puts into high IV on a dip.) - [Link](https://www.reddit.com/r/Superstonk/comments/qunfd5/apes_guide_to_options_part_1/hkr6l2g/) + +Hopefully it's a bit more clear on why I felt the need to post about options with the above. These guys are smart - go read their posts. It's pretty much universally agreed with other apes I've talked to that smart options plays can demolish their Variance Swap hedging strategy, and it is why they'd push the anti-options narrative all this time: + +1. The DD around Variance Swaps is pretty solid, and it goes hand-in-hand with the futures cycles that we see every three months. +2. Citadel is able to hedge to pin the stock around max pain and prevent it from exploding while they maintain an ideal hedge of their Variance Swaps. Some weeks, when they have a constrained options chain, they're forced to induce volatility in the stock by trading the underling. This is because they're forced to buy up CALLs themselves just like in January, March, June, August. +3. By introducing **smart** option plays, their Variance Swap hedging can become difficult to fund and model. Not only this, but they also need to hedge delta against the CALLs that retail purchased. Meaning more shares for them to buy. Which then causes them to **re-hedge their Variance Swaps**, and so forth. It can become a snowball effect for them. BUT.... that is **if** the DD is correct. Research it for yourself. Don't trust myself or others because I made some flashy post. + +# 3. Well, They're Just Not Going To Hedge The CALLs + +I've seen this quoted a bit today and I honestly don't see much truth in this. People are referencing the [SEC report](https://www.sec.gov/files/staff-report-equity-options-market-struction-conditions-early-2021.pdf), so let's dig that up and break it down: + +[SEC Report, Page 29](https://preview.redd.it/5z8eeh6ra3081.png?width=1348&format=png&auto=webp&s=d5c7add24318953c25962518b9e5fc890eccd8e7) + +1. They did not find evidence of a gamma squeeze per hedging against retail CALL option buys. **However, pay attention to the wording**. They are saying that it was **not a gamma squeeze** that caused the price action, but, **it was something else**. This does NOT imply that they weren't hedging. In nowhere of this document does it state that they did not hedge. +2. A minor gamma squeeze occurred due to retail increasing option trading volume substantially, and they hedged against them per "an influx of call option purchases, which causes market makers to hedge their writing of the call options by purchasing the underlying stock". But this was so miniscule in comparison to the other driver of the January sneeze, that it was ruled out as a gamma squeeze being the cause. +3. They state that the main driver was that market makers were buying CALLs rather than writing the CALL options. Hmmm. Suspect, right? What happens with their Variance Swaps that they have to hedge against when rebalancing? They have to buy CALL options! It wasn't a gamma squeeze, but a Vanna/Volga Squeeze since they were hedging the Volatility Swaps and were forced to trade the underlying! + +On top of this, /u/zinko83 pointed out in the following that for the Market Makers who are in Variance Swaps, they **MUST** delta hedge **at the end of every market close** because they are short gamma via their replicating portfolio through options: + +[Effects of Variance Swap Hedging \(per \/u\/zinko83\)](https://preview.redd.it/ujg1q6ou93081.png?width=832&format=png&auto=webp&s=9e7f37df0a7d492c4ba47feab0832059f87006fd) + +Particularly take note of the 2nd page. If they don't delta hedge properly, every day on the close, then the counterparties of the Variance Swaps are going to come knocking. They can't simply "not hedge" otherwise they will make no money on their trade. Delta hedging has to occur. + +# 4. Closing + +Go read section #1 again. Don't mess with options if you don't know what you're doing. + +And if you **think** you know what you're doing, go read all of the DD again. Don't enter this space if you aren't absolutely sure on what you're doing. Your confidence better be through the roof. + +The main reason I posted about options is because of how solid the Variance Swap DD is, and the supporting evidence around it. It's pretty damning because it explains why they'd try to avoid retail catching on to options plays, which can mess with their hedge bets and catch them red handed. + +Don't sell your shares to play options. + +DRS is and always will be the way. Stick to it no matter what. Not financial advice. + +Options are not taboo. Let those who understand them discuss them. If you don't understand them, ignore the posts. + +Hedgies R fuk. +I am a honors student and I skipped a grade in math, so he thinks I can do better in the stock market then he did. + +He originally invested 10K+ into this account and sold all his stocks after they crashed in the late 1990's, he left the account alone until now. He recently looked at it again and thought it was a good opportunity for me to learn about the market. + +I'm just looking for tips in general, anything helps. +Thanks a ton! +If the $ generated by the rent seems too little to justify this as an investment, how do you know that investing the proceeds from the sale is a more lucrative option? +Wass'up? + +So, recently there was a video shared in here in which our favorite rat was telling everyone how Citadel was doing... JUST.... FINE. This made me curious.. like, really curious and made me look up the financial statements of Citadel on Edgar. Who would believe that finally something this muppet was saying steered me in the right direction? + +https://preview.redd.it/f9crjie227i71.jpg?width=1917&format=pjpg&auto=webp&s=e2c7432e31c6af8152e85d40b428a0c18481c13a + +So, here's my disclaimer first: All of this crap here is my personal opinion and it's not financial advice. Like: for real, DO NOT TRUST ME, I am fucking retarded. I counted my toes today three times and got four different results, like, WTF. + +Also, English is not my mother tongue, if I'm off when it comes to language mastery, please be gentle. + +Also: Please poke holes into this here. I will be happy to correct mistakes and point them out in edits. I honestly believe the more eyes look at that the better the result will be. + +tl;dr at the end, you lazy bastard. Ok, let's go. + +&#x200B; + +https://preview.redd.it/fyx9hcv927i71.jpg?width=1024&format=pjpg&auto=webp&s=c0722650106d94a0aa552f415ee11be56e10ea4f + +I'm a big financial statement aficionado, because it's much harder to just pull out some random numbers out your ass (but still, not completely impossible). The secret ingredient is double entry book-keeping. Also, I noticed that there is quite some misunderstanding in here when it comes to as how a balance sheet actually works. I pointed this out when some very wrong statements regarding bank balance sheets were made, but this did not get any traction at that time. If somebody is interested in an ELIA for how to fucking read a balance sheet and why it looks like it looks, leave a comment. + +Also, financial statements are typically audited by a third party like Ernst Young, PriceWaterhouse, etc. (LOL). Well, let's just say that's not a safeguard against fuckery (looking at you, Wirecard), but at least somebody is kinda looking over it. + +I really feel like a deep dive into the financial statements of those companies who we all believe are short GME has not gotten enough love. Here's a couple of things that I found. + +Citadel Securities LLC is the broker dealer arm of Citadel (not the hedge fund). It is also the market maker for GameStop shares. If will refer to that company as CS from now on. + +Here's the balance sheet of CS as of Dec 31 2020: + +Source: [https://sec.report/Document/0001616344-21-000004/](https://sec.report/Document/0001616344-21-000004/) + +&#x200B; + +https://preview.redd.it/3rpks9c447i71.png?width=889&format=png&auto=webp&s=2e28e618482b9a4b2d623b2b77dda26480569813 + +Here's the balance sheet as per Dec 31 2019: + +Source: [https://sec.report/Document/0001146184-20-000006/](https://sec.report/Document/0001146184-20-000006/) + +https://preview.redd.it/zirjovyp47i71.png?width=828&format=png&auto=webp&s=2a90434c24c2b6548e3406c4be7078f2b8e9a02c + +And 2018: + +Source: [https://sec.report/Document/0001146184-19-000002/](https://sec.report/Document/0001146184-19-000002/) + +https://preview.redd.it/3ijg6hyz47i71.png?width=810&format=png&auto=webp&s=64f7d83422d77c8bbac86dccf2136deb036a7e55 + +The years before 2018 always hover around the 30bn $ total asset mark. + +So, CS increased the securities that they hold from 26bn $ to 66bn$. Those securities are accounted for at fair value, which means: + +&#x200B; + +https://preview.redd.it/wrcvbly367i71.png?width=443&format=png&auto=webp&s=c8343b604c60385be2e5e43e261765c383243720 + +So, it's based on market value. Ok, we had a huge fucking bull market in 2020, right, so if you hold shares in 2020 that value should have increase by what, 30-60%? However, this does not explain the increase in the position if we take a look at the liabilities and member's capital. + +Member's capital increased by 1.5bn $ only. (Unfortunately those filings do not include a profit and loss statement that you could study to understand where this increase exactly came from.. it might be profits for the period of 2020, capital increase, etc). + +The lion's share of their increase in assets was financed with debt, and in particular by an increase in the position of "securities sold, not yet purchased, at fair value" by 32bn$. So what the fuck is this position, do you ask? It's their fucking shorts. So, this increase might be explained by some losses they have incurred but not closed out in their short positions held before, but I would assume that the majority comes from increases in the volume of shorts. + +They are using shorting to raise money to go out and acquire other securities. + +Here's a couple of other interesting things that I found: + +https://preview.redd.it/iiya3wpy97i71.png?width=437&format=png&auto=webp&s=782b0db9b602e1b5314586cdfd0751fbb03b2c68 + +So they borrow securities to cover short positions and then - if applicable - net those liabilities out so that they will not show up in full amount on their balance sheet. Well, and they will do this business with associated broker dealers. + +&#x200B; + +https://preview.redd.it/qmns4ylca7i71.png?width=462&format=png&auto=webp&s=c8204a251a275f9f3d5328e499a4accc8e62fe9b + +This one here caught my attention: + +&#x200B; + +https://preview.redd.it/ajwszvb6b7i71.png?width=433&format=png&auto=webp&s=54e5d3cf8b21b49df7a3596b1323790b4e1afb77 + +On page 14, under the headline "Reverse repurchase and repurchase agreements" it is mentioned that "it is possible that the terms of these transactions are not the same as those that would result from transactions among unrelated parties." (see screenshot above) + +I find it remarkable that that statement is made under the "reverse repurchase and repurchase" paragraph and not under the "expenses" paragraph, where it would expect such statement to be made if it only would cover pricing of services. It seems to relate to the actual pricing of transactions. The involved parties are CSIN (Citadel Securities Institutional LLC - ) and CSSF (Citadel Securities Swap Dealer LLC). + +CSIN is an affiliated broker dealer, that engages in "options order routing as well as trades U.S. government securities and equities with institutional and broker and dealer clients." + +CS engages in "market making and liquidity provision in U.S. options, equities, government securities, and foreign exchange products, as well as trade execution." + +We know that market makers have some special exemptions when it comes to shorting as we have learned from RegSho: + +Source: [https://www.sec.gov/investor/pubs/regsho.htm](https://www.sec.gov/investor/pubs/regsho.htm) + +&#x200B; + +https://preview.redd.it/yx5vhsmye7i71.png?width=529&format=png&auto=webp&s=9072cf040592f5d5051f17dd45f076e7f06cfbad + +So... CS is GameStop's market maker. They can naked short in bona fide market making. The enter into reverse repurchase agreements and repurchase agreements with affiliated broker dealers whose terms "are not the same as those from transactions among unrelated parties and such difference could be material". And, those terms typically include the possibility for rehypothecation, for both reverse repurchase and repurchase transactions: + +&#x200B; + +https://preview.redd.it/r7rdn2zpf7i71.png?width=425&format=png&auto=webp&s=674ea64d87341a65f5c3320fae4aa097cc020103 + +They use securities received to cover short positions. + +So CS can pledge securities to CSIN who then can pledge the same security to CSSF who can then pledge if back to CS? And those transaction could be not reflecting market pricing? And the positions can be netted out between the participants, even with a massive possibility of rehypothecation between three affiliated parties? (the merry-go-around) + +What the actual fuck. + +TL;DR: Citadel sets it own terms for transactions between different broker dealer businesses they operate. They use reverse repurchase and repurchase agreement and use securities received to cover short position. Terms of those agreements between the affiliated parties might be of material difference. I haven't seen much attention given to this topic but the financial statements seem to point in that direction. + +🚀🚀🚀🚀HODL. To the moon. + +Edit 1: Wow, this got some attention, I'm going through comments now (I'm in another time zone, so just woke up, lol). Will add edits. + +Edit 2: Related parties by u/Intelligent-Rough-54 here: [https://www.reddit.com/r/Superstonk/comments/p73nx2/they\_see\_me\_accountin\_they\_hating\_a\_look\_into/h9h98a9?utm\_source=share&utm\_medium=web2x&context=3](https://www.reddit.com/r/Superstonk/comments/p73nx2/they_see_me_accountin_they_hating_a_look_into/h9h98a9?utm_source=share&utm_medium=web2x&context=3) + +&#x200B; + +Hey. So, I just have some YouTube videos uploaded about playing Minecraft, so I think you are confusing me with somebody (not even joking). + +I totally agree with you: Transactions with related parties are very common, but I believe very often this is where you can actually hide stuff best. + +An example: Let's say you have an asset on your balance sheet that starts to stink. For the lulz: A banana. You bought the banana two years ago for 1m $. You auditor looked at, thinking: well, that's a hella expensive banana, but it's fresh, so let's not question it. Time passes and what a surprise: Nobody is buying the fucking banana from you for 1m$.. and, it really starts looking like shit, it's old and u/rick_of_spades was playing around with it. Yikes, what is the auditor going to say about the banana? He might wanna make me reasses the value of it. So let's sell the banana to a related party (my wife's boyfriend), he said that he will happily pay 1m$ for it. Time passes and the auditor shows up and he is really keen to know what happened to the 1m$ banana in my inventory. Good news, I no longer have it, but now I have a 1m$ receivables toward an affiliate party, but don't worry... it's really worth 1m$, you will see it by end of next year, when it's gone for something else lol. + +Also, this item I personally find spicy in combination with two other statements: Namely the rehypothecation statement (everything I receive I will just use over and over again) and that transactions between parties might not be at market value (or arm's length as it is called). The latter might have a material impact. So, in my example above, we might agree that nobody in a market transaction would pay 1m$ for that stinky banana. So, the right thing to would be to throw the fucker away and write off 1m$ (leading to a loss of 1m$, eating up my equity, etc.). Since the transaction to my wife's boyfriend however is not at arm's length (I made him pay 1m$ because he loves my cute little butt), I avoided that. + +Typically when doing transactions with related parties you will look to do them at arm's length. There are many implications when this is not done (moving profits between companies, not valuing things correctly on your balance sheet, etc.). The statement says that this might be the case, it's not saying that it is happening. + +The combination of those three things just shows that this is a wonderful way to pass shares around between related parties basically indefinitely and due to netting agreements not let them show up in your balance sheet. If I needed a way to kick "the can down the road", that might be a neat place to start. + +&#x200B; + +Edit 3: So, a couple of people are interested in a short ELIA regarding how a balance sheet works. Aight, imma draw one up, gimme a couple of days. + +&#x200B; + +Edit 4: + +https://preview.redd.it/80ozrl7cwai71.jpg?width=652&format=pjpg&auto=webp&s=1cb444b603abf3ac5a779c2d117389ac4ba95111 +I KNEW this would eventually happen. Huge interface issue. https://www.dailymail.co.uk/news/article-8433117/College-student-20-commits-suicide-Robinhood-glitch-showed-massive-debt.html +We got a letter from the IRS stating they had adjusted a previous year's tax return to reflect an amount of adjusted income reported and we now owed a huge amount of taxes and penalties. This shocked us as we each have a single job and certainly no additional income on the side, much less enough to generate a tax burden in the tens of thousands. A couple phone calls revealed that my husband's SSN was fraudulently used in association with an Amazon seller account that generated enough income to require tens of thousands in income tax owed. We never sold a thing on Amazon so this is an obvious case of identity theft / fraud. So far the IRS and Amazon have not been exceedingly helpful and it seems the onus is all ours. We'll take the obvious steps one should take when a victim of identity theft, but im curious if anyone has dealt with this before. Amazon is so prolific I can't imagine this hasn't happened before. + +TIA! + +EDIT Thank you for your suggestions and concerns about validity but you've not uncovered a victim of a fake IRS letter. + +EDIT again. I truly do appreciate the fervor with which you guys are ensuring we're not getting scammed by a fake IRS letter writer. This is NOT THE CASE. Two identical letters were received one addressed to me, one to my husband. Both had my SSN on them (I filed as primary that year). My husband called. The fraudulent income indicated in the letters was associated with his SSN which was nowhere listed on the letters received. + +EDIT 3... you guys are awesome. Sincere thanks to everyone - we've gotten so much great advice and a great start on tackling this. I imagine this will not be a quick resolution but I'll update at some point! THANK YOU!! :-) +I'm not saying GME won't MOASS tomorrow, next week, next month, but these posts begging GME to hit only weakens your mindset and makes you desperate. Me and my wife are balls deep into GME, XXX to almost XXXX shares. Initially we were hoping for MOASS in January, then March, then September, then etc.... which only made us distrustful of the market/government. We believe the DD and we're planning on holding forever. + +I can't even remember all the posts in early March or May where people were leaving their jobs or getting laid off with no future plan, other than hoping for GME/movie stock to hit... I wonder where those people are now. + +But what allows us to hold without issue is the expectation that GME may hit in late 2022, 2023, etc. We don't feel let down every time a big date passes, it would be a nice surprise for sure, but our mindset is that GME is a growing company. We've taken care of our financials, slowly building up our shares over time. We still have savings and rainy day funds. The last thing we want to do is sell, so we handle our debt accordingly with no need to sell our shares. + +I'm not saying GME won't explode soon, but if you change your mindset for GME to be a longer term investment, then you'll be so much better off mentally. + +Don't live paycheck to paycheck (if life permits, I understand everyone's situation is different). But take care of your family and yourself first, then you can slowly and healthily load up on GME until the time comes. + +Happy Holidays everyone! + +Edit: So I can definitely see some misunderstanding from a handful of people and that's fair. A lot of you are correct, I am probably more financially secure than a handful of you, but that doesn't mean I'm wealthy. I'm working full time in the US Army. I worked my ass off to get here. + +I was working 2 jobs in college, scraping by on the dollar menu, and after getting my degree I was working in a job nowhere close to my bachelors and still crazy poor, my degree didn't open up my world like I had thought it would. I had a lot of student loans, and had to use credit cards to pay off debt. I said fuck it, and joined the US Army. I slowly worked my way through basic, OCS, BOLC, until I got promoted to a Captain. I was still doing Uber and whatever else I could scrounge up. + +So no, I wasn't given anything. Im 33 and I just recently found my way about life. Before 30, I was living paycheck to paycheck. I understand how hard it was and still is. Im still a financial slave like most of you, that's why I hold. I can take care of my wife and daughter, but not much beyond that. + +My point was for all you apes: + +Buy, hodl, DRS, but not at the cost of your own well being. BUY SHARES but don't ruin your health or your families because you'd rather buy GME. I still buy it every pay period, but if you set your mind straight, you will be more zen than anything. +I was talking with a friend earlier and she let slip that she "doesn't believe" in mortgage overpayments because if you decide to remortgage elsewhere the existing provider gets to keep half of the amount overpaid. She was adamant that she was right and wouldn't hear otherwise. +A neighbor on our road who we are somewhat close with recently sprung a Multi-Level Marketing (MLM) pitch (Primerica) on us out of the blue. This neighbor is currently gainfully employed as a nurse so the sales pitch was even that much more alarming, and awkward, for us. + +The neighbor has been aggressively pitching my wife for the last week via social media (posts on my wife’s accounts and DMing her all the amazing “benefits” of this job) until I went over there and talked to the couple. + +Unfortunately they didn’t seem repentant or even aware that they were involved in a low-level MLM scheme, even after I mentioned they should look into the company more closely. Things got awkward and I left cordially but told them not to contact my wife anymore about working for them. + +Anyway... I saw this pattern play out in 2008-2011 when people were hard up for money. I’m not sure I need to educate any of the subs members on why MLMs suck, but lets look out for friends and family who may be targeted by MLM recruiters so that they don’t make anyone’s life more difficult than it has to be during a time when many are already experiencing financial hardship. + +Thanks and stay safe folks! +A lot of posts/comments come off as humble bragging around here. Let's make this a safe place to brag about anything you want with no need to be humble. I want to hear how young you are, how much money you have earned or been given, how close you are to retirement, how many houses or boats you have, etc. +So after starting the year with 6000€ in debt, I will be officially debt-free this Monday (as soon as the loan company finishes processing the payment). + +I'm super happy that I'm finally achieving this goal, after years of carrying and almost paying off debt, but never getting there. Now I want to see what's next for me and I'd love to hear some input on this. + +I have a 3000€ monthly salary (after tax), with my budgeting I will be able to save 1000€ each month, maybe more if I move to a cheaper apartment (I will need to save for a deposit, agency fee...). + +Currently, I have the following savings and other investments: + +\- 2700€ in savings divided into two ongoing funds: + +\- 2200€ - Emergency fund +\- 500€ - Xmas bonus - I put 100€ every month to have an extra 1200€ save up for xmas + +\- 3600€ in stocks of the company I work for now. I contribute 2% of my pre-tax salary to this, and they match it, then if I keep the stocks for 2 years, they will do another match. +\- Around 2700€ invested in different cryptos (tiny piece of bitcoin, and xrp, 0x, stellar). This is super volatile but I just consider them sunken funds. I have bought some small amounts over time and we could say that now I have some "gains" but they will not be real unless I withdraw them, which I don't plan to do anytime soon. + +I would like to put together a smart plan so I can put my monthly 1000€ to work, including savings and investment. Options within Spain are fine, or something Europe-based. + +Any input and advice will be appreciated! +Anyway, we have all heard stories about zeroes becoming heroes in this cryptoworld. Average Joes suddenly find themselves sitting on a pile of Franklins. I am interested to hear what's your plans to capitalize on your gains. Most US ctizens folks here say it'd be wise to pay taxes, and that's all right. But are there any other methods? Like opening up a bank account in, say the Bahamas, Cyprus, for example? + +Isn't it much better to realize your gains in a country that has a better liberal attitude towards cryptocurrencies? As an EU resident, I plan to cash out in Cyprus, since they levy 0% tax rate on capital gains. + +Anyway, future rich folks, what do you plan to do once you've 1 mil or more sitting on exchanges? +A confused and exasperated Taco Bell manager was just wondering why they only have 2 people working. They have “now hiring” signs plastered everywhere *proudly* proclaiming $10 an hour. + +Every other place in the area is starting around $15. +What the shill attack that DRS isn’t working relies on is our own human bias where we need cause and effect to occur very closely to one another in order to be able to make the connection between cause and effect. + +It’s the reason that so many of our desired habit changes fall through despite our best intentions, like a healthier diet or more exercise. The effects are delayed too far out from the required behaviors and so we aren’t reinforced to keep going. + +Like I said in a previous post, for positive and negative reinforcements to be effective they need to occur at or around the time of the behavior being reinforced. Like if you touch the stove and burn your finger, the cause and effect are simultaneous and you’re negatively reinforced to never do that again. + +With DRS the cause and effect are further apart but that in no way means that registering all shares outstanding will not have the ultimate desired effect. + +It just means the effect is delayed while our enemies continue to have a percentage of shares not direct registered that they can use to rehypothecate. + +Just like a permanent change to diet or exercise ends up positively affecting your health down the line, and just like a plane halfway over the Atlantic usually makes it to its destination, DRS will eventually achieve its purpose. +**Disclamer**: This isn’t a fear mongering post about the virus itself. To put it into perspective the Swine Flu epidemic of 2009 has over 110k confirmed cases and close to 4000 deaths in the US alone yet many people don’t even remember that. But that’s for a different discussion in a different sub. + +I’m currently in Shanghai now, from my observation people in the West are not spending enough time talking about how devastating this virus has been to the Chinese economy and its certain global ramifications. + +Let’s take the city of Shanghai for example. It’s not one of the more heavily impacted cities, it’s not quarantined and people can mostly come and go freely. Many businesses are still open, from restaurants to malls. + +However for the first time ever I saw an Apple store with more employees than customers, and an open Starbucks with absolutely zero customers inside. The streets on a Saturday afternoon were about as empty as it would be at midnight on a regular weekday. All of this is happening during what’s supposed to be the busiest week for consumer spendings in China. + +The worst part is this doesn’t seem like it will change any time soon. Shanghai just announced that they will extend the CNY holidays by another week and people will like remain fearful for the coming weeks, if not months if we don’t see a dramatic turnaround of the virus situation. + +What this means is that any Western company that relies significantly on China for revenue would see their first quarter earning absolutely *crushed*, especially considering their forecasts were done with the assumption of this quarter being the best quarter of the year. For example I’m foreseeing Apple miss their Greater China’s revenue by as much as 50% this quarter, and it would be even worse for companies like GM, Ford and the airlines. I’m not sure if it’s widely known, but China is GM’s largest market by revenue and Ford’s 2nd largest. + +Further more this will impact the global manufacturing and supply chain significantly. I don’t know enough to model out a detailed scenario but my gut feeling tells me a prolonged manufacturing shutdown across major Chinese cities would be more than a little disruptive in that regard. + +I’m discounting the impact of the virus if it were spread to other countries in any significant numbers, but even considering the situation in China alone it’s extremely worrying. + +One final point is due to the significantly reduced traveling, China’s energy demand for this quarter would also be drastically reduced. It will likely impact global energy/oil prices and cause even further ripple effects. + +**Edit**: for people tell me how CNY in Shanghai should make the city a ghost town... Yes a few million migrant workers (流动人口), leave town during this time, but there are still ~~10M~~ 15M local residents left. For them this is a week of shopping, 串门(visiting friends), taking their kids to places since it’s also winter break, etc. I grew up in this city and no, people don’t just spend a whole week of national holidays at home. + +But yes... some businesses would be closed until 初四, and it may impact local expats’ favorite bars and clubs... + +**Edit 2**: Some people are missing the point. No I’m not saying the 2% drop we had so far is “The Dip”, that’s just normal fluctuation. No I’m not saying you should sell everything because unless the world is ending (in which case you wouldn’t worry about your stocks), the market will bounce back. Hell it bounces back after 2008 stronger than ever. But at this point nobody knows just exactly how bad the damage would be and how long it would last, so it *will* be rocky in the short to medium term. No you don’t have to react but you also shouldn’t be surprised if the market does. + +**Edit 3**: Jesus Christ people before you tell me how people tend to stay home and do nothing for Chinese New Year, I've spent 20+ CNY here as a local and that's just wrong. Last year people spent [$150B USD](https://www.bloomberg.com/news/articles/2019-02-10/china-lunar-new-year-holiday-retail-catering-sales-up-8-5-cctv) during CNY in consumer spendings. Chinese movie box office during the six days of CNY in 2019 [reached $860M USD](https://variety.com/2019/film/news/piracy-wandering-earth-chinese-new-year-1203138142/), which is probably more than any weekly box office number from the U.S. in all the history of Hollywood, but this year all movie theaters are closed due to the virus. The list goes on an on. +I’m pretty sure the answer is yes, but I am trying to understand her position and if she is royalty taking advantage of me or not. + +We separated in September 2020 and I moved out. We joint owned a house. +I’ve been paying to full mortgage since. +She refused to sell the house so I was forced to take out a new mortgage and continue paying it or lose my credit rating. +She also took me through child maintenance. + +I pay each month: +- £697 mortgage +- £629 child maintenance + +She is working 24hours a week on about minimum wage. +She is claiming universal credit, of how much I am unsure. + +She pays for our youngest to go to nursery, 2/3 days a week. + +She is often telling me how she is broke, struggling and in debt, but when I do some rough maths, she seems to have a lot more free cash than I’m left with. + +I can’t even afford to rent with my current outgoings, I am living with my parents. I’m 38. + +I am in the process of applying to court for an order of sale for our joint owned house. +There’s about £110k equity in it. +She says she doesn’t want to live there but she just kicks the can down the road and makes no effort to discuss selling it and I fear I’ll be forced to renew another mortgage. + +What are your thoughts? Obviously there are two kids in the middle of this who must come first. + +She will need to prove why she can’t sell the house and find somewhere to live with £55k in her bank. Oh, having that much cash will also put her over the threshold for claiming universal credit. + +Thoughts? + +Thanks + +Edit, to add some additional information mentioned in comments: +My ex and I were not married. +My salary is £73k package: +After student loan, pension (10%), salary sacrifice (medical for me and the kids) take home is £3452 +Notable expenses are: +- Mortgage for ex and kids: £697 +- Child maintenance: £629 +- Car loan: £300 +- Credit card: £400 (largely renovation costs from property we bought, new central heating, windows, etc) +- Fuel, car tax, life ins, phone etc £150 +- Gestural rent to parents: £150 +That leaves me with around £1120 +There is no way that will get me a 2 bed to rent around where I live (Somerset) and have money for bills and food. + +I have the kids every other weekend and each Thursday afternoon inbetween, however often have them for additional weekends. 80% of my work holiday I put towards have kids during half terms and holidays. + +Kids are 3 and 5 (just) one in school, the other in nursery 2/3 days. +OCTANS is still here with no plans of going anywhere! We are a sleeping giant primed for liftoff! +We are a fully doxxed and payrolled team of developers, graphic designers, public relations officers, marketing team and moderators looking to unleash the Octaverse onto the world! We have been around for nearly four months now and are laying a strong foundation for the eventual market rebound! +🔥 BSC Contract Address: 0x86c3e4ffacdb3af628ef985a518cd6ee22a22b28 🔥 High Quality Whitepaper available on our official website 🔥 MAJOR developments happening behind the scenes! 🔥 Buy directly with Octaswap directly from our official website 🔥 CERTIK AUDIT completed with Skynet activated 🔥 64k+ holders and counting 🔥 LISTED ON WHITEBIT NOW🚀🚀🚀 🔥 Listings on Bitmart and Gate. io exchanges in the works! 🔥 Clothing Store launched and taking orders! 🔥 News articles with TechTimes, Cryptocurrenciesnews UK, and TechBullion published 🔥 News article with Yahoo Finance publishing soon 🔥 10 contracts with YouTube influencers signed with videos releasing over the next two months +🔥 Backed by a solid, multi-million dollar company (Capital Games Portugal) with a fully doxxed team of developers, marketing professionals, public relations officer, graphic designers and community moderators on payroll! 🔥 See the company headquarters on our official YouTube page 🔥 The team at OCTANS are focused on the creation of an OCTAVERSE. The Octaverse will include: an Octamarket, an NFT marketplace, and the ability to use the token within video games. 🔥 The company backing OCTANS has direct third party merchandising partnerships with Disney, Star Wars, Marvel and DC 🚀🚀🚀 +🔥 Visitors to the Octamarket will have the ability to purchase a wide range of licensed video gaming products and peripherals at below market cost! 🔥Two video games are currently in development which will incorporate the use of the token 🔥 Giveaways for holders as rewards every day in JULY 🔥 Live Octawatch on Twitch every Monday: Weekly news and updates with team members 🔥 A presence on every major social network online 🔥 Listed on Coingecko, CoinMarketCap, Blockfolio, Coinstats and many other coin ranking sites 🔥 More listings, partnerships and sponsorships to come! +Discover more on our socials at the following links. Official Website: https://octanscrypto.com Twitter: https://twitter.com/octans_octa Telegram: https://t.me/OCTA_OCTANS Discord: https://discord.gg/XVS8FfUgYc YouTube: https://www.youtube.com/c/OctansOCTA Twitch: https://www.twitch.tv/octanscrypto Instagram: https://www.instagram.com/octans_octa +That OCC rule change on the front page. People aren't as furious as us here because the language used isn't something everyday people can understand. Here is my dumbed down version: + +The Options Market Makers are allowed to elect someone to make some changes by themselves on their behalf without going through long processes like votes etc. + +If a hedge fund borrows money to try to bankrupt a company and fails and the value of the company goes higher than the amount they borrowed, the leader of the board of the can choose to not liquidate the hedge fund (like the rules say should happen). Instead the leader of the OCC can instead use the borrowed money to borrow even more money to try to save this hedge fund. Hopefully we can bankrupt this American company if we all work together. Otherwise all the different Wall Street executives would lose lots of money (Billions probably) to cover this dumb hedge fund, and we would like that not to happen. Can we be allowed to change all the rules that stop us from doing this and let us just do this? Any complaints SEC? + +The SEC's Response: + +You're good homie. No complaints here. + +DO YOU SEE HOW BULLSHIT IT IS WHEN CONVERTED TO SIMPLE ENGLISH???? + +ALL THESE RULE CHANGES ARE LIKE THAT. CONVERT THE BS TO SIMPLE ENGLISH AND SEND IT TO THE FRONT PAGE!!! + +EDIT: Make no mistake this doesn't change the over all situation. Not an escape, a 🥫🦵 (can kick). DRS is the way personally. Do your own DD and make your own decisions. This is not financial Advice. + +EDIT2: So I saw the OCC post and made a smooth brain translation. Here are some solid counter points: [https://www.reddit.com/r/Superstonk/comments/pv97vs/regarding\_the\_new\_occ\_rule/](https://www.reddit.com/r/Superstonk/comments/pv97vs/regarding_the_new_occ_rule/) + +I guess my counter to this is, why make the new adjustment then that this mechanism can be done by others in the OCC leadership than what's there originally. Does that mean there isn't a united effort on their part to protect the markets? I'm less likely to think this than I was in July. All the rules were in place and no movement. Anyway, counter points should always be discussed so I figured it would be important to add here too. I also add this counter point: [https://www.reddit.com/r/Superstonk/comments/pv97vs/regarding\_the\_new\_occ\_rule/he98721/?context=3](https://www.reddit.com/r/Superstonk/comments/pv97vs/regarding_the_new_occ_rule/he98721/?context=3) + +&#x200B; + +Note that I still think these are side quests to discuss about over all market. DRS is still the way, imo, not financial advice. +Hello everyone, + +I just started to invest about 1 month ago because I worked hard for the last 4 years to save enough for a down payment for my first home. I’m now able to start to invest and I’m interested in ETFs. I’m in Canada and I’ve been doing some research and I just wanted to get some advice into which ETFs are good to start in. I’m looking at a 20-25 year horizon and looking between growth etfs along with some decent Dividend etfs. Any suggestions would be greatly appreciated and would give me a start into researching those ETFs. +In reference to options: **If a person has the money AND experience, options are a great way to LOCK UP A LOT OF SHARES quickly.** Weeklies are stupid. **Playing options for the regular APE is stupid.** However, if you have the $$$ and experience, you can make a BIG dent in the float and then CHEAPLY DRS those shares as soon as they are delivered to you. I know a couple of APES who have been quite good at this. + +For those who don't believe options will do anything, just look at the options finishing ITM on 1/29/21. I'll make a strong guarantee that those options were why the buy button was shut off. SO MANY people were buying APE style options in the weeks running up to the shut off that that the sheer mass of movement that day would have wiped the earth's financial markets like a glacier... there would have been absolutely nothing left - and I mean nothing. MOASS in the hundreds of Millions a share due to the number of synthetic shares available. + +Since then they doubled down and doubled down again and again and things look MUCH worse for the financial markets... We are heading for a "Great Rebalancing" + +I am a firm believer that the "741" from RC means either: + +1. is the percent of the free float sold short. That puts the shorted total float at 464,607,000 + +2. a 7-4-1 stock split is coming in the form of an NFT Dividend. + +Either way... Hedgies are getting wedgies. So are the prime brokers, most governments, etc. + +All we have to to is BUY+HOLD=MOASS + +a way to speed up this process is BUY+HOLD+DRS=FASTERMOASS + +If you have the cash to burn AND experience OPTIONS+BUY+DRS=WAYFASTERMOASS + +Happy Thanksgiving Tards! + +TL DR + +Stay in your lane. If you don't have $$$ to burn and don't have the experience, ***don't play options***. If you know what you are doing AND have the cash, fuck the haters. +Your markets are run by bots. Now your /r/Asx_bets daily threads are too. + +Read the [wiki](https://www.reddit.com/r/asx_bets/wiki/index/) people[.](https://styles.redditmedia.com/t5_2hqqj5/styles/communityIcon_41pmnaqp4zn41.png?width=256&s=59bf38425fb316fdcba30365b272a5f19352f370) + +[Posts relating to the "Is /r/ASX\_bets about finance or effect your mental health?" etc will lead to a ban of the mods chosing. You have been warned.](https://www.reddit.com/r/ASX_Bets/comments/l0l9et/the_does_asx_bets_effect_your_finances_emotions/?utm_medium=android_app&utm_source=share) + +Automoderator may provide "Guidance" for Lazy and zero effort posting. + +[We have an active official/unofficial discord. It's open to all discussions, stonks related and non-stonks related.](https://discord.gg/wsNDGTf5QH) +Your markets are run by bots. Now your 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). +Fellow Apes, allow me to blow your mind, jack your titties, and explode your hype. + +"I love Coke" - Ryan Cohen 7/14/2022 12:09AM Twitter. + +[https:\/\/twitter.com\/ryancohen\/status\/1547433078796169216 ](https://preview.redd.it/nd93ocpescf91.png?width=289&format=png&auto=webp&s=9e820778a4787844ff4921735ebfe14cf1a0241f) + +As usual, RC is speaking in meme lord, leaving bread crumbs for us to follow. I found the utter randomness of this tweet overpoweringly intriguing, and have been rolling it around in my head nearly every day since. Why tweet this? Why on Bastille day? Well... + +[99!](https://i.redd.it/hm7uhnwhscf91.gif) + +Many apes put up theories on this tweet, some of which I will list here for transparency: + +1: Related to Coke Zero shipped with online orders: + +[Credit u\/Gushlite01 ](https://preview.redd.it/41q3hznjscf91.png?width=960&format=png&auto=webp&s=5937b076057ee3b9de863af3722467772e2ce82e) + +2: A revival of previous GameStop & Coca-Cola partnership: [https://www.retaildive.com/ex/mobilecommercedaily/gamestop-coca-cola-bring-mobile-game-to-in-store-shoppers](https://www.retaildive.com/ex/mobilecommercedaily/gamestop-coca-cola-bring-mobile-game-to-in-store-shoppers) + +3: Speculation that Coke could be moving their highly successful NFT to GMENFT: [https://maketafi.com/coca-cola-nft](https://maketafi.com/coca-cola-nft) + +4: Ryan Cohen loves cocaine. + +5: Ryan Cohen is trying to tell us we're going to be as rich as Coke investors: + +[Credit u\/GMEstockboy ](https://preview.redd.it/nhrni5fmscf91.png?width=3200&format=png&auto=webp&s=2b13d3bde8be130c6c1947d1e80fc7d818597f49) + +6. Ryan Cohen is referencing his previous tweet here: + +[https:\/\/twitter.com\/ryancohen\/status\/1522657414327193601 ](https://preview.redd.it/axae80vnscf91.png?width=527&format=png&auto=webp&s=d16c45a32ed12e065f0567cc4dab5f2b8529e580) + +Though some of these felt possible, they simply didn't scratch the itch at the back of my mind. RC is a master of riddles, and I was not going to settle for anything less than a "HOLY FUCKING SHIT THIS IS IT" kind of revelation. So I kept digging, getting more and more esoteric as I searched. It was a painful process, to say the least. Seriously, go ahead and type "coke" into Google and see the insane number of links. Forget a needle in a haystack, I was searching the desert for a particular grain of sand. Link after link of nothing, page after page of marketing, click after cli-- + +# HOLY FUCKING SHIT THIS IS IT. + +I give you: [https://en.wikipedia.org/wiki/Coke\_Reed](https://en.wikipedia.org/wiki/Coke_Reed) + +[https:\/\/en.wikipedia.org\/wiki\/Coke\_Reed ](https://preview.redd.it/hy61a76pscf91.png?width=279&format=png&auto=webp&s=777b32c5187cb4a9e00d100685373f3bae34c898) + +I am dead serious, get that finger off the downvote, and try not to let any flies in your mouth while I lay down why this is a huge deal for GME NFT, the future of crypto, and the account balance of Apes everywhere. + +First off, Coke is fucking rad: + +>In the 1970s, Coke had taken it upon himself to solve Problem #110 of the Scottish Book, a collection of unsolved mathematical conjectures. Forty years prior, future Manhattan Project scientist Stanislaw Ulam posited on fixed points of flows defined on *n*\-dimensional Euclidean space. His conjecture had gone unproven and its attached prize, a bottle of wine, left unclaimed. Coke’s interest in the problem stemmed from his work on dynamical systems with John W. Neuberger and was driven by a desire to solve the last Scottish Book problem with a prize attached to it and whose author was still alive. While eating lunch alone in 1976 the solution to Problem #110 came to Coke – a moment of clarity at a most unexpected time. A novel way to understand particle movement in a system suddenly formalized. Coke submitted the solution to Ulam who awarded him and his coauthor, Krystyna Kuperberg, each a bottle of the promised prize wine. The solution was published in *Fundamenta Mathematicae* in 1981. + +[Coke Reed and his solution](https://preview.redd.it/a5p1sgprscf91.png?width=267&format=png&auto=webp&s=c64bd89216cd919a728e1476805562f3c4cc67d1) + +Good lord, the glaze on your eyes would make Krispy Kreme jealous. **TADR: There's a book of problems that nobody has been able to math. Problem #110 grabbed his attention. Coke mathed it. He mathed it real good.** + +Secondly, Coke kept going: + +>In the thirty years that followed, Coke worked at institutions that gave him access to Seymour Cray’s early machines and granted witness to a rapid rise in computing capabilities. This growing field offered him a new outlet to wet his intellectual appetite as he observed challenges in fine-grained computation. Existing systems were ill-suited to handle the more challenging problems in mathematics and science. **He started to consider how the mathematical solution for particle movement in Problem #110 could be modified to describe data movement in a computer** – a challenge which would consume him for many years + +MRW "describe data movement in a computer" + +[\*Not the full-of-whiskey-up-to-the-nipples kind either\*](https://i.redd.it/f2cbal0uscf91.gif) + +Third, Coke fucking did it: [https://www.plexus.com/en-us/case-studies/data-vortex](https://www.plexus.com/en-us/case-studies/data-vortex) + +>A new kind of supercomputer. +> +>The unique design of Dr. Reed’s Data Vortex network wasn’t your average incremental step in the evolution of computing technology. This was a huge stride — a breakthrough capable of freeing scientific discovery from the limitations of traditional computing. +> +>The Data Vortex network is a self-routing dynamical system that allows for much faster processor-to-processor communication. It’s scalable with no appreciable increase in latency because it moves small packets in a congestion-free network. It simply isn’t possible to achieve this using a crossbar-based network. The result is that the system delivers huge performance improvements for applications that require massive data movement. For certain problems, a Data Vortex system of equal size has a 32–100 times performance improvement over a comparable system with the same number of x86 cores. +> +>Wherever vast amounts of information need to be processed — academic and scientific research, government and other big data and artificial intelligence applications — Data Vortex can make answers possible more quickly and efficiently than traditional computing. Several Data Vortex systems are now in place around the United States at government and academic sites, including the Department of Energy, Center for Advanced Technology Evaluation (CENATE) at Pacific Northwest National Laboratory, and the Center for Research in Extreme Scale Technologies (CREST) at Indiana University Bloomington. + +[Visual Representation of Coke's Data Vortex](https://preview.redd.it/ozdwvlzvscf91.png?width=996&format=png&auto=webp&s=595fbccb0fbc264242cd3581860879c3a7e6be97) + +Lost again? Alright here, **TADR: Coke's original solution made sense of particle movement in a specific whirlpool pattern. Coke then realized that his solution could be applied to computer data, and essentially bootstrapped the invention of an entirely new supercomputer.** + +Sound to good to be true? Can they actually deliver? Do people take them seriously? + +Well, Coke fucks: + +[https:\/\/www.datavortex.com\/history\/ ](https://preview.redd.it/rfj0pbsxscf91.png?width=931&format=png&auto=webp&s=125496b48190d604387c0d36977f51fdd8e8ff73) + +Dr. Coke himself speaking on his discovery, starts out with more wrinkles than a naked mole rate, but moves into a really nice story about his eureka moment over a hamburger: + +[https:\/\/vimeo.com\/113844392 ](https://preview.redd.it/7b89luozscf91.png?width=961&format=png&auto=webp&s=3c1e1296ffffbcf1f33dd877186379b761cf39de) + +Pretty cool right? What a sweet story! + +What's that you ask? + +"How does it tie in, u/flokki_the_monk?" + +Buckle up: + +[https:\/\/vimeo.com\/731030891 ](https://preview.redd.it/9n0tzpl1tcf91.png?width=946&format=png&auto=webp&s=24e30fcb8334149f914b1cae50b88f8eae0b55f6) + +Seriously, watch the video: [https://vimeo.com/731030891](https://vimeo.com/731030891) + +* Hardware Assigned ID's: "Impossible for computers Outside The Trusted Network to maliciously impersonate Network nodes. This alone eliminates half of all natural and malicious attacks in Byzantine fault scenarios." (A Byzantine fault is **any fault presenting different symptoms to different observers**. A Byzantine failure is the loss of a system service due to a Byzantine fault in systems that require consensus.) +* Predictable Latency: "Eliminates loss of data and performance and guarantees data packets will always be delivered with predictably low latency. Conventional Network simply cannot make this promise as data delivery can fail entirely." +* Non-Blocking Communication: "Bandwidth is also never a problem within a Data Vortex enhanced Network. Unlike conventional networks where high traffic between two or more nodes can preclude other nodes from accessing the network, the data Vortex which promises non-blocking communication between nodes and unhindered access to the network. +* Zero Packet Loss: "Zero packet loss is another benefit of data Vortex technology as packets simply do not get dropped. No matter how much traffic is being pushed through the network, Data Vortex guarantees all data packets will arrive and be accounted." +* Non-Partitionable: "A Data Vortex Network cannot be partitioned. When a conventional network is divided through a malicious attack, the isolated nodes within that Network produce split brain activity resulting in conflicting data records and unrecoverable data, when split brain recovery is attempted." + +This video was published 7/18/2022. In the days leading up to its release, Data Vortex successfully implemented The Raft consensus algorithm on Data Vortex technology. Quick reminder on what also happened in those days? + +[https:\/\/twitter.com\/ryancohen\/status\/1547433078796169216 ](https://preview.redd.it/8amidue3tcf91.png?width=289&format=png&auto=webp&s=4479988a704519f264fe75b0df0530848e16e334) + +# Edit Conclusion: Confident about your investment because GME's blockchain software is so superior that it will dominate the market? With Coke Reed and Data Vortex, GME will have the hardware to match. Hardware that offers security, reliability, and speed that's beyond anything else on the market. Watch the video, it's by far the most important thing in this post: [https://vimeo.com/731030891](https://vimeo.com/731030891) + +[boom](https://i.redd.it/5m88eyddtcf91.gif) + +Edit 2: Reddit butchered my formatting. Improved. + +Links: + +* [https://www.datavortex.com/](https://www.datavortex.com/) +* [https://en.wikipedia.org/wiki/Coke\_Reed](https://en.wikipedia.org/wiki/Coke_Reed) (why waste money on college?) +* [https://www.hpcwire.com/2018/01/15/coke-reed-data-vortex-brief-history/](https://www.hpcwire.com/2018/01/15/coke-reed-data-vortex-brief-history/) +* [https://www.plexus.com/en-us/case-studies/data-vortex](https://www.plexus.com/en-us/case-studies/data-vortex) +* [https://vimeo.com/400983764](https://vimeo.com/400983764) +Stock dividend ISO code is DVSE, Not SPLF + +[https://www.dtcc.com/-/media/Files/Downloads/issues/Corporate-Actions-Transformation/ISO\_20022\_EntAlloc\_UG.pdf](https://www.dtcc.com/-/media/Files/Downloads/issues/Corporate-Actions-Transformation/ISO_20022_EntAlloc_UG.pdf) + +Page 15 on that page is the code DVSE for a stock dividend. + +[https://www.dtcc.com/-/media/Files/Downloads/issues/Corporate-Actions-Transformation/2021/Corporate-Action-Announcements-Data-Dictionary-SR2021.xlsx](https://www.dtcc.com/-/media/Files/Downloads/issues/Corporate-Actions-Transformation/2021/Corporate-Action-Announcements-Data-Dictionary-SR2021.xlsx) + +Look at the tabs down the bottom once you have downloaded the xls file. + +Choose the events tab down the bottom and scroll to row 104. + +Read it. STOCK DIVIDEND. + +Not row 105 and 106, both of those are stock split, but not via dividend. + +Then also choose the tab down to bottom that says EVENT DESCRIPTIONS. + +Please read row 82,83 and 84 for Stock Dividend and Stock Split. + +They did this to avoid the bill fail tracking system perhaps. + +[https://www.reddit.com/r/Superstonk/comments/wfg2vj/i\_think\_i\_found\_why\_did\_the\_dtcc\_performed\_a/](https://www.reddit.com/r/Superstonk/comments/wfg2vj/i_think_i_found_why_did_the_dtcc_performed_a/) + +It should have been performed under the DVSE ISO code but was not due to this rule they are trying to avoid is my greatest understanding + +The forward stock split code of FC-02 can be used. + +Edit to include - [https://www.dtcc.com/-/media/Files/pdf/2013/3/22/0424-13.pdf](https://www.dtcc.com/-/media/Files/pdf/2013/3/22/0424-13.pdf) + +Not saying it is FRAUD, but if it walks like a duck, quacks like a duck, looks like a duck... + +Edit, And if anyone has ANY documents, where they can reference i am wrong, i will update this post to include said evidence. + +Edit post to remove the word split. Context is hard. Words hard. Apologies for any confusion + +Edit, change column to row. +So I am 27 years old and a perpetual student (I'm currently a PhD student but leaving to start a full-time job), so I've basically always been "broke". And by broke I mean that my money essentially goes towards tuition, rent, food, and necessities. I have money in the bank that I suppose is "savings" but I have student loans so if you add everything together I am still in the red. + +I'm about to start my first long-term full-time job and I'm a bit lost on how I should be budgeting/saving since I am so used to just having to spend as little as possible and not save. I'm wondering what a good amount would be to save? I want to save for a house and then I suppose I should start saving for retirement. Is there a certain percentage that is advisable to put towards these? And a certain percentage/amount to put towards my student loans (they are about $12,000)? + +I'm also wondering what a reasonable percentage of my income would be to allocate to rent. I would really love to live somewhere a bit nicer since I've been living in old "student" apartments for the past 9 years (rats, bed bugs, I've seen it all haha). However, I don't want to go overboard with my budget. The income from this job would be about 2.5 times what I get as my graduate student stipend so it seems like a lot but I don't want to get overexcited and go overboard. + +Any help is appreciated :) +Welcome to the Daily Altcoin Discussion thread of /r/EthTrader. + +*** + +The thread guidelines are as follows: + +- All sub rules apply here so please review our **[rules page](https://www.reddit.com/r/ethtrader/about/rules/)** to become familiar with them. The rules page is also linked in the announcement bar above. +- This thread is intended as a welcome place for discussion of all non-Ethereum related crypto. + +*** + + Resources and other information: + +* Newcomers who have basic questions about Ethereum can find answers by visiting /r/EthereumNoobies or our Ethereum Education wiki page, [see here](https://www.reddit.com/r/ethtrader/wiki/education). + +* To view live streaming comments for this thread, [click here](https://reddit-stream.com/comments/auto). Account permissions are required to post comments through Reddit-Stream.com. + +*** + +Enjoy! + +**tldr:** There is evidence these two SEC commissioners have conflicts of interest and have been working *against* the health of the global market from every angle and against Gamestop - a public US company. They have proven themselves woefully incompetent and they should be immediately replaced for the sake of the world market. SEC commissioners have equal power (Gensler is just a commissioner and chairman is a figurehead title) and their voting power DIRECTLY AFFECTS what happens to Gamestop and it's investors. I recently [filed a complaint](https://www.sec.gov/oiea/Complaint.html) on them. + +Elad Roisman was counsel to Daniel Gallagher when he was SEC commissioner. **The same Daniel Gallagher who is chief legal officer for Robinhood.** + +Roisman led agency efforts to [improve proxy voting processes](https://www.sec.gov/biography/commissioner-elad-l-roisman)...**we all know how that's turned out.** Specifically, ***spectacularly bad.*** + +He's also been in charge of [protecting elderly investors](https://www.sec.gov/biography/commissioner-elad-l-roisman). Has that gone well? [Nope.](https://www.sec.gov/litigation/litreleases/2020/lr25002.htm) [Nope x2](https://www.sec.gov/news/press-release/2020-234). And so on. Litigating against financial abuse of elderly retail investors is not protecting them. **It's showing up to the crime scene years later.** + +How about another of his tasks, [modernizing the treasury markets?](https://www.sec.gov/biography/commissioner-elad-l-roisman) If you don't consider "modernization" to be [permitting Kenny and his cayman companies to short US treasuries in anticipation of a devaluation of the dollar and putting the entire global market at risk](https://www.reddit.com/r/GME/comments/mgucv2/the_everything_short/), then that's spectacular failure number 3. + +All of that is just the tip of the iceberg. + +[*Credit Suisse affiliates involved in corruption don't deserve to be banned!*](https://www.sec.gov/news/public-statement/peirce-statement-credit-suisse-102021) \- Hester Pierce + +Utter Bullshit. + +[*But, but but, PFOF saves retail investors money!*](https://www.sec.gov/news/public-statement/peirce-roisman-staff-report-2021-10-18) *-* Hester Pierce, Elad Roisman + +This one is from their comment on the Gamestop report. I wonder how much information they restricted from being released... + +[*PFOF and conflict of interests? Nothing to see here!*](https://www.sec.gov/news/speech/roisman-enhancing-equity-market-competition-2021-10) \-Elad Roisman + +Stick it up your ass, Roisman. + +[*Whistleblower rewards shouldn't be case-by-case to help whistleblowers come forward because we just changed the rules!*](https://www.sec.gov/news/public-statement/peirce-roisman-whistleblower-procedures-2021-08-05) \- Hester Pierce, Elad Roisman + +Sounds like you guys want to keep whistleblowers away...why is that? + +[*Money laundering and abuse through crypto? If it's happening then we should provide clear guidelines for all cryptos! We have so many no-action letters today...*](https://www.sec.gov/news/public-statement/peirce-roisman-coinschedule) \-Hester Pierce, Elad Roisman + +Strange comments considering the amount of illegal crypto money laundering that's been happening and Citadel's likely involvement. + +Additionally, the [coinschedule press release](https://www.sec.gov/news/public-statement/peirce-roisman-coinschedule) followed by Pierce's ["safe harbor"](https://www.sec.gov/news/speech/peirce-2021-10-08) idea....she wants to come up with clear guidelines for thousands upon thousands of new crypto tokens...? That would bog the SEC down and violate what Gensler called *the essence* of the rule which would only result in tons and tons of even *more* no-action letters because of the immense amount of work needed to process rules on whimsically created crypto tokens - ***and they know this.*** + +[*The public accounting board has done nothing wrong - the removal of their members is 100% about politics!*](https://www.sec.gov/news/public-statement/peirce-roisman-pcaob-2021-06-04) \-Hester Pierce, Elad Roisman + +I can't even justify this one with a response. Absurd. + +There's so, so so much more but my lunch break is about done. I'll end on this: the SEC can't have more than 3 out of 5 commissioners of the same political party. Both Pierce and Roisman are republicans but **that doesn't matter to me in the least and it shouldn't to anyone else.** I believe there are countless other republican candidates that would *actually* fulfill the role of protecting investors, markets, and fairness. + +There's one thing I know for sure, though - both of these commissioners don't come close to doing that. With the news that [all SEC commissioners have equal power](https://www.reddit.com/r/Superstonk/comments/qbnlmg/gary_gensler_is_the_figurehead_of_the_sec_the/), it's imperative these commissioners are replaced with people who actually feel a responsibility to the world market. + +I recently filed a complaint with the SEC detailing why I think both of these commissioners are in direct violation to their commitment to protect retail investors. For anyone else who wants to do the same, here is a link: + +[SEC Investor Complaint Form](https://www.sec.gov/oiea/Complaint.html) + +**edit:** fixed crypto snippet for clarity, fixed PFOF snippet +I live in Korea and I have been heavily impacted by the coronavirus. No, I'm not sick, and even if I do 100% of my care will be free. I've always heard of emergency funds, and so forth. I've also always heard of preppers who spend lots of money stockpiling supplies to survive things like the coronavirus. Until recently Korea had the 2nd largest outbreak of the virus. Here are some of the many economic impacts it has had. + +* Many businesses are shut down, especially bars and restaurants. +* Many schools are shut down (especially private schools) +* Many large companies have shut down major parts of their operations + +Some real impacts on my life + +My income has been slashed due to a massive drop in workload. This effect was essentially immediate. My income for the next few months is going be a fraction of what it normally is. And this is a direct result of the virus. There is nothing I can do to combat that. + +My girlfriend is a teacher for a private school. Her school has shut down, the question on her income is up in the air at the moment. Her school isn't receiving tution fees from the students since they are no longer in operation, but we still got bills to pay. So does her school. + +Now luckily for us, I literally completed funding my emergency fund in January after saving up for it, I'm laughing because chances are starting in April I'm going start taking money out of it to survive. This is with me drastically reducing what I spend. Some changes I've made + +* Not driving anywhere so no parking/gas expenses +* Not going out for drinks or dinner +* No trips +* Not buying anything we don't need, those new pair of shoes? Yea they can wait +* Etc + +Although we have spent some money, I recently got back into playing online poker I deposited $50 to keep my mind busy, I've also bought two new video games to take up time. My girlfriend ordered some art supplies and is painting a bunch. However those extra expenses are small compared to what we are saving. + +Some other examples I've seen + +**The Bar** + +A friend of mine owns a bar, its pretty successful. Recently he did some renovations in preparing for the upcoming spring/summer. His bar is now closed. He had to close it to save money because so many people were staying home it was costing him more money then he was earning to stay open. However, he still has bills he has to pay. He has a mortgage on his home, he has rent on his bill, car payment, and all your other standard bills. He's done the math and if by Mid-April he's not able to open back up he may never have the money to open back up again + +**The big spender friend** + +I have a friend who has lived paycheck to paycheck and never saving. His company has shut down and put him on unpaid leave. He's not earning an income, has next to nothing in savings, and still has living expenses. He's had to go to a bank to get a loan to pay rent. FYI if this virus last long enough (it'd have to be about 6-7 months) I may also have to go get a loan to pay rent, but at least I don't have to do that yet. + +You can still go to the store and buy all the food, water, etc what you need. The supply chains are still fully functional and shelves are pretty much stocked. No one is going hungry, but pretty soon people will be going broke. The Korean Govt has said they plan on giving out grants to small businesses, one major fear is that after the virus passes many small businesses (which are an important part of the economy here) will go out of business as soon as they open. + +And this just really highlights the importance of an emergency fund. + +And FYI my SO and I did some math, with the cut back on our expenses we should be able to survive up to 10-12 months with no income. You'd be amazed at how little money you spend watching netflix all day. + +SO seriously folks, get your emergency fund going. I'm seeing people all around me freaking out over lack of financial capacity. And 2 weeks ago everything was normal. +I just like averaging up, averaging down and today is a beautiful day to add some extra moon tickets for me and my family with a big discount. I'm sure I'm not the only one who took advantage of it. Showing some Ape love and showing the SHF this Ape ain't leaving, as far that wasn't already obvious. + +To the moon Apes! + +EDIT: Thanks for all these signs that I'm not the only ape who did some groceries today. If I haven't reacted yet on your comment, this is for you. 🙌🙌🙌 see you at the moon Ape!! +In 2018 the US the poverty level for a single individual was $12,140. With a 4% SWR that means if you have $303,500 in savings/investments then you're essentially set to live the rest of your life at the poverty level. + +I do not think it's realistic for anyone to actually "poverty FIRE" as you're very much at the mercy of the markets at that point and living at the poverty level can't be very fun. But I think it does make for an interesting "milestone" to reach/aim for. + +I'm not interested in providing specific numbers or details about myself because I thought of this as more of a discussion than an actual brag post. + +So has anyone else reached this milestone without realizing it? + +edit: Wow, I'm surprised that this got so huge but I really appreciate all the responses and the discussion that's going on in the comments! +I have spent the last few months picking up financial related tips from this sub/blogs/etc. and thought I would combine what tips I have learned in one post (and for others to append to). These are things that might seem obvious now but weren't to me earlier on. + +Early career + +* Try to get equity in your employer as soon as possible. I didn't know that many tech jobs (both startups/established companies) will allow you to take a slightly reduced base pay for more leveraged equity. My peers who have had equity have worked harder, become more financially successful and enjoyed their jobs more than my peers who kept to larger base salaries +* Options (ISOs and those that you manage with an 83(b) Election) can be much more tax efficient (+25%) than the base pay on your W2 - they also have \_much\_ higher variance. + +Incentive Stock Options (ISOs) / Company Stock + +* Make sure you understand the implications of AMT *before* your ISO vesting date. There are a lot of calculations to make around how much of your stock you want to exercise and hold (in hopes of paying long term capital gains tax) vs what you might want to sell immediately (in order to "sell to cover", avoid AMT or avoid an anticipated future drop in your stock). I made the mistake of being scared off by the complexity of AMT and so just didn't do anything with my vested shares which was non-optimal. Good table of tax tradeoffs [here](https://employeestockoptions.com/amt-credit-iso/). +* I have been through the full gambit of insane stock gains and crashes, I recommend always selling 5% of your position each quarter at a minimum. This locks in some gains but still keeps some "lottery tickets" in your pocket. [This website](http://openinsider.com/) is an awesome way to see how high level people in your publicly traded company are selling/buying their stock (and how much they have!) +* Always do ESPP (if offered) and make sure you choose a withholding percentage that doesn't cause you to hit the 25K/year limit in the first offering, rather spread it evenly over the year + +Tax Efficiency + +* Muni bonds can be a great place to store cash (saving up for a big purchase, market dip, etc.) because they have no federal tax and you can get state specific ones that also have no state taxes! For example, [VCLAX](https://investor.vanguard.com/mutual-funds/profile/overview/vclax) has a roughly 1.5% yield with no taxes (if you live in CA) which really smashes Wealthfront's HYSA post highest tax bracket yield of \~1% (1.78 \* 0.6) for only a bit more risk. EDIT: As u/tophouse pointed out, the qualified yield is 1.5% (which is tax free) and the CAGR is around 4.8% for the fund lifetime (which you would have to hold long to get cap gains rates (which you can't get with HYSA) In 2008 the fund returned -6.8% so this is definitely more risky than cash. +* Make sure you put investments with non-qualified dividends in a tax friendly account like a Roth - I messed up and put a common REIT, [VNQ](https://investor.vanguard.com/etf/profile/overview/vnq) in a regular taxable account +* Treat your HSA (if you have one) like a retirement account and fully max it out each year. Let your savings compound tax-free and instead keep a detailed spreadsheet of your medical expenses as there is no expiration on when you can pull out the [expenses in the distant future](https://www.irs.gov/pub/irs-drop/n-04-50.pdf). +* If you own large properties, some states allow a [Current Use](https://www.maine.gov/revenue/propertytax/propertytaxbenefits/current_use.htm) program to significantly decrease property taxes. + +Retirement Accounts + +* There are tons of [good threads](https://www.reddit.com/r/fatFIRE/comments/f2dgyy/a_fat_guide_to_retirement_accounts/) on this but just confirm you know about Roth (Mega)Backdoor conversions and are fully funding your 401k to the current 19.5K limit b/c you can deduct that from your AGI independent of how much you make + +Taking Time Off + +* A lot of employers will allow you to take some unpaid leave after you have demonstrated exceptional value to the company. This is great for the employee because + * Often your equity keeps vesting or at the very least the company keeps appreciating while you are gone + * You come back refreshed and work twice as hard than when you were burnt out + * With the progressive tax scheme in the US, if you take 2 months unpaid, you aren't missing out on 16% of your salary - in top bracket cali (\~50% marginal) you will have taken 2 months off but only have 8% less post tax money :) + * Lastly, for the employer, this setup is advantageous because they get to retain a great employee and they don't have to start the minimum 6 month process to recruit/hire/spin-up a newbie +* You will never wish you took less time off + +Miscellaneous + +* Building a portfolio in Wealthfront and then replicating in Vanguard/Schwab minus the 0.25% fee is easy (0.25% is a lot if you consider VTI has a 0.03% expense ratio) +* Chase Reserve can give you meaningful money back on restaurants (always get the bill and then Venmo friends instead of splitting with 5 cards) & travel, about 4.5% (total of 30% w/ Lyft) back when converted into travel (and this is tax free) +* [Portfolio Visualizer](https://www.portfoliovisualizer.com/backtest-portfolio#analysisResults) is a simple way to backtest investment ideas. +* I'm really interested in environmental investing, [this is a great](https://fossilfreefunds.org/) fund screener and [VFTAX](https://investor.vanguard.com/mutual-funds/profile/VFTAX) is a good first investment vehicle. +* Tell as few people as possible the extent of your wealth. As soon as anyone knows you have fatFIRE'ed (or are getting close), they begin to "expect" certain things from you. + +&#x200B; + +edit: additional miscellaneous + +edit: muni update +https://finance.yahoo.com/news/43-of-retail-investors-are-trading-with-leverage-survey-172744302.html + +>According to a Yahoo Finance-Harris poll published on Sept. 9, 33% of people holding stock indicated they’ve been trading more since the pandemic began and a similar number said they’re trading individual stocks more, as opposed to ETFs and mutual funds. The poll surveyed more than 1,000 Americans, from Sept. 4 to Sept. 6. + +>On a similarly bullish note, 36% indicated they’ve increased the amount of stock exposure in their portfolio. At the same time, just 16% and 17% own less stock and trade less stock, respectively. + +>Interestingly, respondents with household income less than $50,000 said they traded more frequently since the pandemic and had more stock exposure, even more than the $100,000 or more group. The middle tier of earners, with income between $50,000 and $100,000, were more conservative. +The average house price for me to get something decent where I live is 250-300k. My landlord is raising my rent 400$ come January, and it’s a shitty duplex. I’ve lived here for 5 years and had to move 5 times, due to landlords selling, rent raises, breakups (lol). What is the smartest thing for me to do right now? I have great credit and no debt. +Einfachman here. These past few weeks were legendary. There's a lot my DD will be discussing, but to put it short, RC's most recent move is what you call checkmate. + +[https://i.imgur.com/F4tQj7p.jpg](https://i.imgur.com/F4tQj7p.jpg) + +\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ + +Recommended Prerequisite DD: + +1. We Are Unstoppable:([https://www.reddit.com/r/Superstonk/comments/t3zp4h/we\_are\_unstoppable/](https://www.reddit.com/r/Superstonk/comments/t3zp4h/we_are_unstoppable/)) +2. The Numbers Are In: Mountains of GME Synthetic Shares & Mathematical Proof:([https://www.reddit.com/r/Superstonk/comments/qxljfb/the\_numbers\_are\_in\_mountains\_of\_gme\_synthetic/](https://www.reddit.com/r/Superstonk/comments/qxljfb/the_numbers_are_in_mountains_of_gme_synthetic/)) + +Checkmate + +\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ + +§1: Stock Split + +§2: Solidified Proof of Synthetics & Entrapment via Stock Split + +§3: Bank of GMERICA + +§4: Quantum Mechanics & DRS + +\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ + +§1: Stock Split + +To get a better understanding of what the GME stock split will entail, I did digging and discovered that the GME 8K stock split announcement is similar to the TSLA stock split announcement in 2020: + +GameStop 8K \[Stock Split Announcement\]: + +https://preview.redd.it/91e3fcua4xr81.png?width=1357&format=png&auto=webp&s=63866754fc51b23d200a032adee4e2dd91e5e7cd + +“On March 31, 2022, GameStop Corp. (the “Company” or “GameStop”) announced its plan to request stockholder approval at the upcoming 2022 Annual Meeting of Stockholders (the “Annual Meeting”) for an increase in the number of authorized shares of Class A common stock from 300,000,000 to 1,000,000,000 through an amendment to the Company’s Third Amended and Restated Certificate of Incorporation (the “Charter Amendment”) in order to implement a stock split of the Company’s Class A common stock **in the form of a stock dividend** and provide flexibility for future corporate needs. GameStop also intends to request stockholder approval at the Annual Meeting for a new incentive plan (the “2022 Equity Plan”) to support future compensatory equity issuances. If the 2022 Equity Plan is approved by stockholders, it will replace the current GameStop Corp. 2019 Incentive Plan (the “2019 Plan”), and 8,000,000 shares of the Company’s Class A common stock, plus any shares subject to the 2019 Plan that expire, are forfeited, cancelled, terminated or settled in cash after the 2022 Plan is effective, will be available for issuance under the 2022 Plan. GameStop’s Board of Directors has approved both stockholder proposals, but the stock dividend will be contingent on final Board approval.” + +Tesla 8k \[Stock Split Announcement\]: + +https://preview.redd.it/1weyqcuc4xr81.png?width=1366&format=png&auto=webp&s=6abeaade5afe0223f3842640647c9e85ad3f5c49 + +“PALO ALTO, Calif., August 11, 2020 – Tesla, Inc. (“Tesla”) announced today that the Board of Directors has approved and declared a five-for-one split of Tesla’s common stock **in the form of a stock dividend** to make stock ownership more accessible to employees and investors. Each stockholder of record on August 21, 2020 will receive a dividend of four additional shares of common stock for each then-held share, to be distributed after close of trading on August 28, 2020. Trading will begin on a stock split-adjusted basis on August 31, 2020.” + +Both announcements of a stock split in the form of a stock dividend. Some were contemplating that a stock dividend meant that the stock would first be split and then each shareholder would receive a dividend on top of the split shares. That’s not the case if we compare it to the Tesla stock split. + +In the case of the 5:1 stock split (in the form of a dividend) that Tesla had, each shareholder received 4 additional shares (in the form of a stock dividend) for every share that they had (i.e. 1 Tesla share + 4 Tesla shares paid out as a dividend = 5 Tesla shares, in accordance to the 5:1 split. + +Considering the similar verbiage between the two announcements, it’s reasonable to infer that we can expect the GME stock dividend to be paid out in a similar manner when the split comes. + +What can we further ascertain from this? + +For one, I think this is it. Upon approval of this stock split (in the form of a dividend), I believe this to be checkmate. I’ve tried calculating a variety of permutations to see what loopholes SHFs could take to evade this, and I find very few. + +The most important thing from this, in my opinion, is that SHFs can’t duplicate so many synthetics in such a relatively short time. I’ve already established proof that there exists at least twice as many shares as issued (anywhere between 200%-1,000% total outstanding shares exist). That being said, a stock split would absolutely decimate SHFs with synthetic shorts. I don’t see how they can get away from this unscathed. Allow me to explain: + +Let’s say, for conservative purposes, SHFs spent an entire year creating fake shares totaling the entire float of GME. Now a 7:1 stock split (in the form of a dividend) comes, and they need to create 6 more synthetics for each synthetic share they created. If they created, say, 100 million synthetic GME shares over the span of a year, but the split comes in 6 months, how the hell are they going to come up with 600 million synthetic GME shares within 6 months to distribute? + +There’s a limit to the chaos. They can only produce so many synthetic shares every day, which is why FOMO can get the best of them at times (case in point, January, 2021). Even last month they had to halt the stock because it was getting out of control, and they needed time to recalibrate in order to regain control of the stock. By my estimates, producing 7-fold the amount of synthetics they created should take them several years at least, so there’s no way they can make all that within 6 or so months. + +Even if they tried to create so many synthetics right now to keep in reserves, it would take away from the synthetics they need to keep the price suppressed now, allowing GME to break through the sell walls more easily, eventually hitting critical margin levels and kick-starting MOASS. + +So, again, I don’t see how they can get away from this. The only options for them I see are: + +1. Voter manipulation; find a way to manipulate the vote, so that the share authorization increase is not approved (possible, but very difficult and unlikely). +2. Have brokers deny the share dividend, or opt for cash equivalent instead to give to shareholders (not very likely). + +There may be some other loophole they could have under their sleeves, so stay vigilant. But, as of where it stands, this is a checkmate move. + +Now, for the sake of it, let’s say that, hypothetically, there was some hidden loophole they took advantage of and were somehow able to evade sparking MOASS from the stock split. In that case, as we’d continue to patiently wait for MOASS, we’d find DRS rates to increase post-split. This is primarily because the stock split will increase demand in GME, and as such, increase demand for registered shares. + +The ticker price is a matter of perception. Retail investors are generally more inclined to purchase whole shares rather than fractional shares. Hence, registered shares would also increase post-split, especially the ones under “book”, as you can’t “book” a fractional. + +Simply put, not only will demand increase for GME shares post-split, but also the rate of registered shares. + +Example: You have $200, but the price of GME is $150. You can only purchase 1 share. 75% of your potential purchasing power has been utilized. A 7:1 split is introduced, bringing the price to approx. $21.43 per share. You can purchase 9 shares instead for approx. $192.87. Over 96% of your potential purchasing power has been utilized instead. + +Here’s a graph to better illustrate: + +https://preview.redd.it/w2lcfpvn4xr81.jpg?width=1440&format=pjpg&auto=webp&s=60db751372fae23ab90f2ff8cf1038e87d327ec7 + +In conclusion, GameStop’s plan to introduce a stock split in the form of a dividend will only yield positive outcomes going forward, with a high likelihood of this being a checkmate from RC (+ stock split & NFT marketplace in summer = one-two punch). + +§2: Solidified Proof of Synthetics & Entrapment via Stock Split + +According to GameStop’s 10K for the fiscal year ended January 29, 2022 (pg. F-17), + +“As of January 29, 2022, 8.9 million shares of our Class A common stock were directly registered with our transfer agent, ComputerShare.” + +And under ITEM 5 on page 17, + +“As of March 11, 2022, there were approximately 125,543 record holders of our Class A Common Stock.” + +Calculating average shares per Ape using these numbers would come out to an average of approximately 70.89 shares/Ape. + +In my past DD (The Numbers Are In: Mountains of GME Synthetic Shares & Mathematical Proof:[https://www.reddit.com/r/Superstonk/comments/qxljfb/the\_numbers\_are\_in\_mountains\_of\_gme\_synthetic/](https://www.reddit.com/r/Superstonk/comments/qxljfb/the_numbers_are_in_mountains_of_gme_synthetic/)), I used the Pareto Principle to negate potential biases in DRS Bot’s data, ultimately deriving a strong conservative average of 29 shares/Ape (I made the extreme conservative assumption that 80% of Apes only had 1 share each and only 20% of Apes had an average of 140 shares to establish an extreme lower limit). With the average of 29 shares/Ape, I was still able to prove unequivocally that synthetic shares exist (at least 200% the outstanding shares). This average is much smaller than the 70.89 average. If we were to use the factual average of 70.89 shares/Ape, given the conservative population of 5.5 million Apes I extrapolated in my previous DD (from known and public data), there should exist around \[(70.89)(5.5 million)\] ≈ 389.9 million shares outstanding, which should come out to over 500% the number of outstanding shares (using 76.5 million as the number of official outstanding GME shares). + +I did previously extrapolate that 200%-1,000% outstanding GME shares are in existence, so 500% still fits perfectly within this estimate. + +Drawing back previously to §1: Stock Split, if 389.9 million GME shares exist (approx. 313.4 million more than supposed to), I ask again: how the hell is anybody going to come up with 2.1+ billion synthetics if GME implements a 7:1 split in the form of a dividend…within a relatively short period of time of around 6 months or less? From the looks of past data, it seems they can only create up to 500,000-1 million synthetics max every trading day. The rest of their price suppression comes from dark pool abuse, short ladder attacks, spoofing, regular shorting from borrowed shares, rehypothecated shorts, etc. Assuming they can create 1 million synthetics every day (somehow including non-trading days), it would still take about 6 years to come up with the 2.1+ billion synthetics…yikes! All I’ve got to say is grab some popcorn and get ready for the shitshow this year 🍿💩. + +§3: Bank of GMERICA + +“The deformation a multitude of elastic substances undergo due to an external force acting on them is directly proportional to a restoring force that resists any further deformation. This relationship is known as Hooke’s Law. When the motion of an object is repeated in regular time intervals, it is, defacto, undergoing periodic motion. Now, when oscillation occurs on a hanging mass, the motion is classified as simple harmonic motion”- Prizmic’s Mathematical and Conceptual Integration for Physics Quandaries. + +Now why am I talking about Hooke’s Law? Because I consider this to be an excellent (and fun) analogy for the circumstance that we’re in right now. Consider, for a moment, this mass-spring oscillator: + +https://i.redd.it/xbqjsxxr4xr81.gif + +The spring is SHF price suppression tactics, and the object is the price of GME. Let’s also consider that if the object were to detach from the spring, it would go fall into a portal beneath it that would transport it straight to the moon (i.e. price suppression system breaks, and GME goes straight to the moon). Every time the object tries to get to the portal to the moon, it is pulled back into price suppression equilibrium by the restorative force. Simply put, GME is stuck oscillating perpetually until the cycle is broken. How does the cycle break? When too much force is applied that the spring snaps (SHFs lose control). This massive buildup of force could come from a variety of factors: FOMO, stock split dividend, DRS, DOJ, etc. But one thing’s certain—the cycle will break. It’s inevitable. But until then, the GME price will be oscillating around the price suppression control range (anywhere between $90-190). This won’t go forever. I stated in my past DD (We Are Unstoppable: [https://www.reddit.com/r/Superstonk/comments/t3zp4h/we\_are\_unstoppable/](https://www.reddit.com/r/Superstonk/comments/t3zp4h/we_are_unstoppable/)) that as time goes on, the control SHFs will have on GME’s price will grow weaker and weaker. If the price of GME exceeds a certain point, margin calls will ensue, starting a snowball effect which will lead to MOASS. The more they short, the more money they lose, the more margin requirements pose a problem to them, and the more they will need a lower price. Alternatively, if the price declines too low, DRS rates towards locking the float will become accelerated, and as such, so will their demise. Also, GameStop literally has virtually no debt AND over a billion dollars in cash on hand, so it’s genuinely over for SHFs. SHFs will never be able to short GameStop into bankruptcy. It’s empirically, financially, factually impossible. Heck, they can’t even bring GameStop’s market cap under 3 billion, because then GameStop could technically just lock the float themselves with a share buyback. So you can be at peace knowing that SHFs can never win here, and that each registered GME share is practically a guaranteed moon ticket. + +GameStop’s natural price isn’t anywhere near these current levels. Recall the GME SEC Report on October that states unequivocally, on both pg. 29 and pg. 42, that the run up was not from a gamma squeeze. “As noted above, though, staff did not find evidence of a gamma squeeze in GME during January 2021”-SEC Report, pg. 29. There was no short squeeze. No gamma squeeze. It was pure FOMO. It was all merely Adam Smith’s Invisible Hand taking its natural course in the market, despite all the heavy manipulation against it. If it weren’t for the buy button getting shut down & SHFs shorting stacks all the way down as soon as the buy button got removed, the price of GME would have easily reached thousands (that was over a year ago, mind you). From pure FOMO alone, without the extreme price suppression and illegal manipulation, GME would easily be anywhere between $15,000-35,000. This is without a short squeeze. Add a short squeeze, the closing off all short positions, including synthetics, with 30%+ of the float DRS’ed by Apes (and counting), and yes, there will be a nuclear level MOASS. A price in the millions can be reached easily. For anyone concerned with the feasibility of a GME price in the millions, feel free to read my DD (We Are Unstoppable: [https://www.reddit.com/r/Superstonk/comments/t3zp4h/we\_are\_unstoppable/](https://www.reddit.com/r/Superstonk/comments/t3zp4h/we_are_unstoppable/)) where I go over the geometric mean, and demonstrate how a GME price in the millions is easily possible. + +That being said, what can we infer from this? + +The current price of GME will continue to oscillate around the sub $200 price levels (primarily around $90-$190) as it has the last year, until the price suppression system snaps and GME rockets to the moon almost instantaneously. One could take advantage of this known fact, and use GME as their personal bank, consistently adding registered shares at their own comfort, knowing that the price will consistently be suppressed to these levels (meaning cheap moon tickets), until the inevitable MOASS ignites. In addition, DRS’ed GME shares as a bank is quite literally more secure than actual banks with $250k FDIC insurance. Registered GME shares (moon tickets) get insured trillions by SHFs, the DTCC, and the FED, because they must be bought back by them, so rest assured that the Bank of GMERICA is here to help ensure every Ape a safe trip to the moon. + +§4: Quantum Mechanics & DRS + +“The quantum Zeno effect is a quantum mechanical phenomenon first described by George Sudarshan and Baidyanaith Misra of the University of Texas in 1977. It describes the situation that an unstable particle, if observed continuously, will never decay. This occurs because every measurement causes the wavefunction to “collapse” to a pure eigenstate of the measurement basis.” + +Although this definition, while rudimentary, as described by Wayne in “Perspectives on the quantum Zeno paradox”, does demonstrate similar fundamental principles as in the double slit experiment as well as Schrödinger’s Cat: variables don’t change when you’re looking at them. When not being observed, they are in a state of Quantum Indeterminacy. + +https://i.redd.it/i0pq2f2w4xr81.gif + +It’s a complete mystery what you have in your broker account. For all we know they could’ve never bought your GME shares to begin with, which would explain why some brokerages refuse to DRS your shares that you bought in good faith. Until you register that share and ‘observe’ it, its behavior is subject to change. In a broker account it can be used as a locate, it can just be an IOU, it could simply not exist and the money was used to short GME to deliver back to you at a lower price (for broker profits), or maybe it was a legitimate broker that actually purchased your GME share, against the wishes of SHFs. We have no idea. But once it’s registered (observed), it’s fixed. It’s not in an indeterminate position anymore, no manipulation can take place. It’s under your name, and we can all see it on GameStop’s subsequent Quarterly Report. + +SHFs may take advantage of the GME shares that cannot be observed, but every single share registered is 1 more that they can’t play with. It’s in a fixed position and cannot be changed in anyway shape or form. + +Here’s a good analogy with the Double Split experiment from Dr. Wolf: + +https://reddit.com/link/txnwhu/video/gdqybs738xr81/player + +When variables are not observed, they behave differently. However, once they are observed, they are locked into a fixed position. This is the state of GME shares. + +Which is why SHFs are going nuts seeing Apes registering their shares en masse. + +And every subsequent Earnings Report where GameStop announces the increase in DRS’ed shares is another warning shot to everyone, and another hair pull for SHFs. Everybody starts to see how many shares are getting locked up, how many fewer shares can be used, amongst brokers, retail, etc., and they need to respond differently to these new DRS numbers that they’re observing. Shorting becomes more difficult, the pressure builds up, the DOJ starts getting more involved. The tension is building up for every share that gets registered until the volcano that is GME erupts into a nuclear MOASS. + +The goal of SHFs right now is to survive as long as possible. DRS puts a limit to how long they can keep their charade. The pressure building up from DRS is a serious threat to them, which is why they’ve been sending out Anti-DRS Campaigns to hinder the progress. Some of their primary weapons to slow down DRS rates: + +1. Have Clearing Corporations trick retail investors into reversing their DRS transfers (e.g Apex Clearing deliberately trying to inhibit the DRS process, and Ally Invest sending emails to Apes that have DRS’ed in an attempt to persuade them into reversing their DRS transfers). +2. Infiltrate ‘meme’ stock related subs to shut down any positive DRS sentiment (e.g. proof αmc sub was infiltrated and is compromised with an Anti-DRS Agenda: [https://imgur.com/a/9OdmLE4](https://imgur.com/a/9OdmLE4)). The battle for DRS was lost in some other subs, but luckily still remains in SuperStonk. I have noticed some shills currently trying to gain influence in this sub to overthrow the DRS movement, but most attempts were rendered futile. The only methods SHFs have to destroy the DRS sentiment in SuperStonk is either infiltrate the mod community or find a way to sway the general community to be anti-DRS, neither of which are likely to work. +3. Make the DRS process as long and painful as possible (e.g. drawing out the time to transfer shares to CS to last several weeks-months instead of days. Also making Apes wait hours on the phone and go through so many hoops to transfer their shares). They may try to find every way to make transferring your shares as challenging as possible, until you give up. Some brokers might simply outright refuse to transfer your shares, forcing you to look towards additional avenues to transfer your shares to CS, such as an ACATS transfer or selling the (most likely) IOUs from the broker to buy actual shares from CS. + +What’s incredible is, despite all their attempts to slow down DRS rates, about 1/3 of the float got locked by Apes within 7 months (September, 2021-April, 2022) \[[https://www.computershared.net/](https://www.computershared.net/)\]. That is what you call determination, and that’s why Apes are unstoppable. + +In conclusion, everything has been leading up to this being the year where the MOASS launches. From the stock split to the NFT Marketplace to a variety of strong indicators signaling towards a future break in price suppression to RC’s more recent offense plays against SHFs (and overpriced consultants) to the heavy pressure from DRS’ing, I strongly believe this year to be checkmate, and we’re all just waiting for the board pieces to start getting cleaned up soon. + +\---------------------------------------------------------------------------------------------------------------------------------------- + +Additional Citations + +Mark V Prizmic. Mathematical and Conceptual Integration for Physics Quandaries. *Communications on Applied Electronics* 6(3):7-9, November 2016 + +“SEC Filing: Gamestop Corp..” *SEC Filing | Gamestop Corp.*, GameStop, 31 Mar. 2022, [https://news.gamestop.com/node/19686/html](https://news.gamestop.com/node/19686/html). + +“SEC Filing: Gamestop Corp..” *SEC Filing | Gamestop Corp.*, SEC, 17 Mar. 2022, [https://gamestop.gcs-web.com/node/19651/html](https://gamestop.gcs-web.com/node/19651/html). + +Sec.gov. 2021. *Staff Report on Equity and Options Market Structure Conditions in Early 2021*, 14 Oct. 2021, [https://www.sec.gov/files/staff-report-equity-options-market-struction-conditions-early-2021.pdf](https://www.sec.gov/files/staff-report-equity-options-market-struction-conditions-early-2021.pdf) + +“Tesla Announces a Five-for-One Stock Split.” *Tsla-ex991\_6.HTM*, SEC, 11 Aug. 2020, [https://www.sec.gov/Archives/edgar/data/1318605/000156459020039353/tsla-ex991\_6.htm](https://www.sec.gov/Archives/edgar/data/1318605/000156459020039353/tsla-ex991_6.htm). + +Wayne M Itano 2009 J. *Phys.: Conf. Ser*. 196 012018 + +Wolf, Fred Alan. *Dr. Quantum Presents: A User's Guide to the Universe*. Narrated by Fred Alan Wold., Sounds True, Incorporated, 1 Jun. 2005. Audiobook +Around June last year I found out my friend works for a company that manages stocks. I heard about investing back in 2017 but never cared to look into it. After finding out I decided to talk to him and he gave me a little push to start investing. So here i am 7 months later and im hitting small milestones! I swear it was just yesterday I saw $0.15 in my account from $SPHD and asked him why I got paid. Now its $12 a month! Stay the course guys thats the most important thing everyone will get there one day! +How would you know when the next best thing comes up ? + +Would you change your strategy and move to the next thing ? + +Since it is only 3 years old, why are people so confident about it ? Is it because of Vanguard ? +My essential stats: + +- 47m +- Wife, 2 kids (both under 10) +- $30mm NW ($2mm Home Equity, $4mm in cash, $24mm in diversified stocks, private equity funds, etc.) +- Current employed and make around $5mm a year. +- Current annual spending: $600K a year on housing, vacations, private schools, etc +- We live in one of the most expensive zip codes in the country on west coast + +I think about retiring often, especially when work is stressful. I work at a very high pressure company. Each year is a struggle and while i have significant tenure at the company, i always feel under the gun to produce or risk being replaced by a younger, more ambitious version of myself. I am new to this community but have been thinking about my own version of FatFIRE for a long time. + +I would appreciate advice on a few topics. + +1) How do I stop worrying that I “won’t have enough money”? I know this sounds ridiculous but it is really hard to make myself believe that I can support myself and my family on what i have in the bank for the long term. I don’t want to reduce my annual spending in retirement and i want to feel like even if the economy tanks and the market pulls back that I have enough to live well forever. I have a mental block on this topic. for some reason though. I always feel like i need “a little more”. How have. others dealt with this feeling? + +2) My job is very stressful, but i could power through for another 5-7 years i think. I think if i did so, i could easily retire with a $50mm NW. Thoughts on whether this is really worth pursuing? I don’t think my lifestyle would change significantly, but i almost feel like i owe it to my family to make this money if i can. It could make a difference for my family for generations to come. + +3) How have others figured out what to do next? I don’t golf, and while i have been very charitable over the years, i am not really passionate about a specific cause that I could throw my time into. I love my family very much, so i could spend more time with them. That being said, i think i need more of a purpose to make my life feel meaningful. Thoughts from anyone on how they figured out what to do with their time? + +4) Does anyone know of any good books for someone in my net worth range to read on these topics? I have a private wealth advisor at one of the big shops but he is not really helpful beyond the nuts and bolts of my portfolio. + +Thanks in advance +previous good investments by SoftBank: + +SoftBank's $100 million investment in Alibaba mushroomed to almost $132 billion. + +Its $70 million stake in Yahoo Japan grew into an $8 billion holding. +To all those who believe in Ethereum's long term potential, do not worry. We've seen tougher times last year during the DAO fork and the ensuing DOS attacks on the ethereum network conducted by BTC maximalists. Back then they did their worst and ethereum still survived through it all and came out on top(were still on top in gains). Let the BTC ignorant fools jest all they want but revenge is sweet. I remember searching PMs through my old posts and then messaging the fuck out of those ETH shortest when ETH was climbing to 420USD And oh was it sweet revenge seeing them jump and squirm as their portfolio diminished 50% everyday. Which if you think about it, bitcoin is needing to create forks every month to try to achieve. + +A little longer down the road in a few months, we will see the same adoption coming as all the great news pass under the radar and accumulate. Those saying Devcon3 is nothing are shortsighted. Pay attention to the topics of this year discussion and you will see that majority of them are centered around solutions to huge industries and game changing technologies. It's no longer just talking about concepts but we're talking about solutions this year. Solutions applications and how to use them. The ethereum ecosystem has grown so much in the past year beyond just adoption which many new investors have yet to even fathom to start finding out about. It's crazy once u start realising the depth of research these intelligent developers have done and will be executing fairly soon. + +I for one can't wait to see many of these solutions being finalised in the coming year and everything gets ready for Casper. Don't underestimate how fast this space grows. The growth we're seeing is 10x faster than any other coin out there. Difficult solutions being solved in months. Revolutionary tech released in a year or two. Just imagine how it took bitcoin 3years to argue for 1MB of upgrade. And how much more we're achieving. Stay strong and trust yourself. + +Short term gains aren't worth your sleepless nights. Turn off your phone, go do something else and come back in a few months and you will still outperform short term day traders trading on other altcoins like bitcoin. +I just posted to anyone who wanted to know. + +Personally I have been holding Baba from $220 price and this gave me green light to buy even more especially because the price dropped significantly so my margin of safety is now even larger. +So let’s say I buy an S&P 500 index fund. It’s my understanding that the fund takes that money and buys shares of various S&P 500 companies (maybe this is where I’m going wrong). If we have everyone thinking indexes are the safest and putting money there, wouldnt that drive up the prices of the S&P 500 company shares? If everyone bought the S&P 500 index, would it increases the price of the companies it holds? Over time, wouldn’t this pull the price of large companies up (Ik there’s other indexes but S&P ones seem the most popular). If this trend continued and continued, wouldn’t it make individual small cap companies more of a value? It just strikes me as weird that everyone buying the same thing is considered the safest move. +Hi all, + +Thrilled to share the GameStop NFT marketplace integration with Immutable is officially live! + +[https://twitter.com/0xferg/status/1587174624701255682](https://twitter.com/0xferg/status/1587174624701255682) + +**Why this matters:** + +This is one of the largest milestones in web3 gaming history. Fundamentally, games want audiences, and GameStop is poised to be a mainstream NFT marketplace (plus much more), leveraging the power of one of the world's largest communities + 50 million retail customers. Marketplaces also require content - and I'm thrilled to share Immutable has onboarded more games in the last quarter than in the last two years *combined*, and more than any other L1 / L2 in the world. + +We're taking Web3 gaming mainstream. And let me be clear -- this is not some passing fancy of GameStop exec, or crypto. More money has been invested in Web3 gaming in the last two years ($14 billion) than almost any new tech vertical *in the world.* It's more than the first decade of gaming investments of this century combined. This is a trillion dollar opportunity, but where the $ don't go to incumbents - they go to the players and users themselves. + +We are the beginning of a decades long shift to true digital property ownership. We're at the forefront. Let's show everyone what the future of gaming is - and make sure it's on games people actually *want* to play. + +**The future:** + +Looking forward to working closely with you, and the GME team, over the next decade. This is the first step of many. *Let me know any questions you might have in the thread below and I'll try and get to as many as possible!* + +**Start trading:** [https://nft.gamestop.com/](https://nft.gamestop.com/) \- every trade earns extra $IMX as a reward for the launch period. + +For now, + +[Robbie](https://twitter.com/0xferg) + +[THE GAAAMES](https://reddit.com/link/yine8g/video/fp9yycnu47x91/player) +my last day working is feb 20th. boss congratulated me. i'm 47. scared to death. excited beyond belief. been cozy with my FI spreadsheet for 17 years. + +rat-race mega-corp world: *good bye* + +volunteering/healing-the-divide/meditating/traveling/reading-actual-physical-books: *hello* + +should have done this 3 years ago; but cold feet until today. +Good evening r/Superstonk, neighborhood jellyfish here! I would like to revisit the [CPI report](https://www.reddit.com/r/Superstonk/comments/nwodvj/the_consumer_price_index_climbed_06_from_the/) from yesterday while considering Reverse Repos. One thing that happened after the 5% number came out was that junk-bond yields fell to new record lows. + +Two bonds I would like to share with you all are: + +[ICE BofA Single-B US High Yield Index Effective Yield @ 4.47&#37; -.53&#37; adjusted for inflation \(Highly Speculative\)](https://preview.redd.it/16ggnizq5r471.png?width=1472&format=png&auto=webp&s=2044efbec4edfd718975f23cbb46c5c57e488f21) + +[ICE BofA CCC & Lower US High Yield Index Effective Yield @ 6.83&#37; 1.83&#37; adjusted for inflation \(“extremely speculative” to “default is imminent with little prospect for recovery”\)](https://preview.redd.it/vzymxppt5r471.png?width=2917&format=png&auto=webp&s=98bb6f76625ee211c7c99a8f4b4c70ddcc65635f) + +Before we go any further, let’s do some quick level setting on bonds and their risk descriptions: + +[How the Credit Rating Agencies Classify Corporate Bonds and Loans by Credit Risk, or the Risk of Default.](https://preview.redd.it/rehqd3r06r471.png?width=1329&format=png&auto=webp&s=e0feef1958f5dc822e8374073ebe411d5c378373) + +&#x200B; + +[Jenga!](https://reddit.com/link/nxxwqt/video/dr1zy3dv7r471/player) + +Ok, so back on topic, [inflation came in at 5% yesterday](https://www.reddit.com/r/Superstonk/comments/nwodvj/the_consumer_price_index_climbed_06_from_the/). Single-B yields drop to 4.47% and CCC & lower hit 6.83%. + +However, after adjusting for inflation, these bonds are yielding -.53% on the Single-B and 1.83% on CCC & lower. + +Can we let that sink in for a moment? To get any sort of positive yield an investor must expose themselves to bonds rated **“extremely speculative” to “default is imminent with little prospect for recovery”.** If they invest in the Single-B ‘**Highly Speculative’** they lose principal capital to inflation! + +Stopping here for a moment, **I believe this to be a primary driver to the Reverse Repo market exploding**—because remember, counterparties can give the Fed as much cash as they aren’t able to place for 0%, while ‘investing’ in something ‘AAA’ related. + +However, the money for these institutions have to place is continuing to grow at a good clip because: + +· Yellen is still drawing down the packed General Account Mnuchin stockpiled for her—she wants it at [$500 billion by the end of June](https://home.treasury.gov/news/press-releases/jy0011) (\~ $174 billion more to go) + +· local governments are getting Covid money [($350 billion included in the American Rescue Plan)](https://www.erienewsnow.com/story/44076717/local-governments-sift-through-treasurys-interim-guidance-on-spending-covid-aid) + +· Central-bank asset purchases that continue chugging along [($120 billion per month)](https://www.wsj.com/articles/central-bank-will-begin-reducing-bond-purchases-well-before-raising-interest-rates-powell-says-11618421656) + +In theory, all of this (\~$644 billion) could end up in Reverse Repo. Add that to what they are already sheltering ($547 billion) and we could see the Reverse Repo market hit **$1.191 trillion**. + +# Ok Jellyfish, but what does this hypothetical reverse repo number have anything to do with CPI, and how the heck does it tie to GME? + +First, even before all of this talk of inflation, the buying power of the dollar has gone down over time. + +&#x200B; + +[It goes down, down... ](https://preview.redd.it/u1sromf58r471.png?width=2340&format=png&auto=webp&s=6f640c25b1be662e4077aea3d2a30889cab41095) + +&#x200B; + +Next, remember those ICE BofA CCC & Lower rated bonds we looked at up top? Those are the only bonds available for US corporate bonds whose **average yield is above the rate of inflation**. + +Everything else currently has negative real yields, where the purchasing power of capital (remember this has already been taking a hit the last 50 years) is **further obliterated by inflation**, to the point these yields are just too low to effectively compensate for the loss of purchasing power, especially for the wildly risky assets and substantial risk that would have to be purchased to earn said yield. + +Let’s imagine for a moment that inflation ***only*** holds at 5% for the rest of the year (ha!) and comes back down to that 2ish% the Fed is PROMISING will happen. Whoever makes this investment is still ***down in real terms since bonds purchased at today’s rates (unless you are okay with investments only in “extremely speculative” to “default is imminent with little prospect for recovery” assets) because yields are below that of inflation***. + +Viewed through this lens, one can say the Reverse Repo markets are being used as intended and not abused. But now inflation has been unleashed, **and a permanent loss in purchasing power** is in store for anyone who is buying bonds that aren’t ***“extremely speculative” to “default is imminent with little prospect for recovery”. Everything else is getting a haircut from the current rate of inflation, and this isn’t coming back.*** + +This brings me back to how this **could** tie to GME and **begins the ‘speculation’ parts of this post**. + +Ok, we have established that the counterparties in the reverse repo market still have \~$644 billion or more coming their way that will have to be placed somewhere. + +Remember, they can’t just sit on this cash as the dollar is losing buying power (as we have seen above), the cash would get eaten by inflation, and it is a liability for them—since they must pay interest on client cash. + +So I believe it is safe to assume that most (if not all) of the incoming cash will continue to make its way to the overnight Reverse Repo market. But what about cash that had been deployed to bonds on the balance sheet that are now getting its lunch eaten by inflation (as we established above with the adjusted for inflation rates)? + +On April 7, [The Wallstreet Journal](https://www.wsj.com/articles/mall-owner-explores-debt-restructuring-for-new-yorks-largest-shopping-center-11617830147) reported that Destiny USA’s owner, Pyramid Management Group, hired representation to look into restructuring the mall’s debt, which includes Commercial Mortgage-Backed Securities (CMBS) and municipal securities known as PILOTs (Payments In-Lieu of Property Taxes). I don’t know much about PILOTs but I only bring it up because the PILOT debt is senior to the larger of Destiny USA’s two CMBS. + +These two debt issues represent a total of roughly $716 million in outstanding principal ($286 Million in PILOT and $430 million in CMBS). + +However, appraisers lowered the mall’s valuation to just $203 million. That is not even enough to even cover the $286 million in PILOT bonds (which would get paid first!), leaving CMBS investors holding the bag. Consequently, their bonds have been [downgraded (from BB to B)](https://www.syracuse.com/business/2021/03/destiny-usas-junk-bond-ratings-just-got-junkier.html). + +Now let's imagine you are an institution that has: made a bunch of these CMBS moves in commercial property that is not going to recover because of the pandemic. + +Previously, these bonds *had* been able to be used as collateral for staving off margin calls or for whatever other fucking around they might happen to be doing. + +Two things are now occurring. First, the new rules say this junk can’t be used anymore as collateral. Second, inflation is coming and eating that sweet profit the bonds offer so any refinancing sees you losing more money on the bet. + +Recall, the yield from interest payments is supposed to compensate for the loss of purchasing power, *and* also for the level of risk of default they are taking on by investing. But as we saw above, rates suck, the risk is through the roof, and evaluations/ratings of debt are all kinds of out of whack to [fraudulent](https://www.sec.gov/litigation/litreleases/2021/lr25030.htm). + +&#x200B; + +[I hope she comes back for the sequel! ](https://preview.redd.it/ok2xksrd9r471.png?width=960&format=png&auto=webp&s=c6ab96684ac56cf1010235939aafd5e02b87781e) + +OK, so to try and wrap this up (I hope): + +· Cash is going to continue to pour in that needs to be placed. + +· Inflation is going to make it impossible to earn positive rates on assets after being adjusted for inflation on anything but ***“extremely speculative” to “default is imminent with little prospect for recovery”*** risks. + +· Cash can be stashed with the Fed @ 0% currently--although there are rumblings of having to taper support. + +· Previous collateral (zombie CMBS as example) is considered junk and may be losing value due to being mistakenly rated/valued to begin, with yield rates, which had been used to secure the balance sheet now also being eaten by inflation. + +· Their cash can’t be used as collateral because it is a liability, and even if used, will suffer a loss of value from inflation. + +Opinion: Because of inflation, the shorts are going to drown in their cash. There is no place for it to go to earn a positive yield greater than what inflation will eat, or should be acceptable for the level of risk of default. + +With nowhere to park this cash to generate positive yields and while having to contend with balance sheets that are having assets eaten away, participants will continue to use the Reverse Repo to buy time until: + +1. Being down in real terms because of inflation is something that cannot be made back up to service the debt and will weigh on balance sheets as they try to protect from margin calls. +2. Their existing collateral on the balance sheet can get re-rated lower, re-appraised lower, or just eaten by inflation to the point even what they are borrowing in treasuries can’t meet the requirements to hold off a margin call. +3. They hit the 80 billion Reverse Repo limit because of nowhere else to place cash, are tapped out on treasuries, and no longer able to post acceptable collateral to meet their margin requirements. + +TL:DR – I believe inflation is the match that has been lit that will light the fuse of our rocket. + +&#x200B; + +[Tik Tock and I hope I didn't screw this up too badly! ](https://i.redd.it/zfeirmk1ar471.gif) +>Putin warned this weekend that international sanctions on Russia are "akin to an act of war," and hinted the conflict could spread beyond Ukraine unless the west changes course. +> +> +> +>But despite the risk of "civilization-ending global nuclear war" rising to 10% over the next 12 months according to one strategist, **investors should "stay bullish" and "largely ignore existential risk."** +> +> +> +>"Although there is a huge margin of error around any estimate, subjectively, we would assign an uncomfortably high 10% chance of a civilization-ending global nuclear war over the next 12 months," Peter Berezin, chief global strategist at BCA Research, wrote in a note to clients this week. +> +> +> +>"**Despite the risk of nuclear war, it makes sense to stay constructive on stocks over the next 12 months.** If an ICBM is heading your way, the size and composition of your portfolio becomes irrelevant. Thus, from a purely financial perspective, you should largely ignore existential risk, even if you do care about it greatly from a personal perspective." +> +> +> +>Stock markets have swung wildly over the last few weeks as investors nervously eye Russia's escalating war with Ukraine. The International Monetary Fund has warned Russia's invasion of Ukraine and the international sanctions it has sparked will have a "severe impact" on the global economy. +> +> +> +>Berezin also predicted there could be a sharp sell-off of assets in coming weeks as happened two years ago during the early days of the Covid-19 pandemic. +> +> +> +>"Even if World War III is ultimately averted, markets could experience a freak-out moment over the next few weeks, similar to what happened at the outset of the pandemic." +> +> +> +>Stock markets have soared over the last two years, awash with cash following pandemic-era stimulus measures and ultra-low interest rates and climbing far beyond pre-pandemic levels. +> +> +> +>**"The risk of Armageddon has risen dramatically," BCA's note concluded. "Stay bullish on stocks over a 12-month horizon."** +> +> +> +>This week, Federal Reserve chair Jerome Powell said the Fed still planned to raise interest rates this month for the first time in three years despite the global economic shock of Russia's invasion of Ukraine, pointing to high inflation, a tight labor market and strong economic demand. + +Via: [https://www.forbes.com/sites/billybambrough/2022/03/06/vladimir-putin-and-russia-could-trigger-nuclear-apocalypse-and-armageddon-but-investors-told-to-stay-bullish](https://www.forbes.com/sites/billybambrough/2022/03/06/vladimir-putin-and-russia-could-trigger-nuclear-apocalypse-and-armageddon-but-investors-told-to-stay-bullish) +There really isn’t anything else that needs to be said. Get your gaming tendies and we will get the movie tendies. Then we can have video game tournaments at AMC establishments, or GameStop arcades in AMC theatres? + +Really I’m just so happy to be apart of this movement with you all, and we want to see you succeed just as much as we want to succeed. + +Also, it’s so early in the morning and my coffee hasn’t kicked in yet. + +Sincerely, + +-An ape who loves movies and video games + +Edit* +Not a movement, I am not a financial advisor, and some of you are incredibly hostile lol. +What I gather after dozens of hours spent reading this sub is that the typical poster here has a net worth of 5-10M, yet still struggles with getting off the hamster wheel and still seriously worries about their financial stability. Golden handcuffs and "just a few more years / millions" both seem like a common theme here. + +When I shower, I use a body cleanser that's $45 per bottle, it lasts around a month. I absolutely love the product, but every time I use it, I'm thinking that I should use it sparsely, since it's pretty pricey. I made $750k post-tax last year, and yet this is the shit that pops into my head. + +I love cars. I obsess over the 992 GT3 and I'd love to have it as a weekend car. If I leased it via my LLC, I wouldn't even feel the payments. Even the total purchase price, in the grand scheme of things, wouldn't make a dent. I'm pretty sure how many smiles that purchase would give me, yet I can't bring myself to pull that trigger. + +And I'm no cheapskate - I'm ashamed to admit what I spent on restaurants or what's the value of my wife's handbag collection. We try to enjoy life, but there's constantly a voice in my head telling me to be careful, to limit spending, to think about the future, to save more, and giving me different WHAT IFs scenarios including catastrophic failures of the world monetary system. Spoils all the fun of enjoying my money. Yet what I think is true for most of us here, even if we lost 90% of our net worth, we would still be better off than the average person. So we the hell do we constantly worry? + +Does anyone else struggle with this? +Title basically sums it up. If you had $1,000,000 to invest, but you had to live on the ROI. Where would you invest it? Dividend? Real estate? Cash position? Etc. + +Some context. House is sold, paid off so 1M in equity (tax is minimal as basis i in home was about same). + +Car paid off. + +Age 55. Single. + +Etc. +I'm currently 25-years-old. Graduated with a degree in a "high-demand" field about 5 months ago. (High-demand, yeah, sure.) + +Anyway, I was wondering what my current savings goal should be. I'm currently a cashier until I can (hopefully) find a job in my field. + + +I Googled what an "average" 25-year-old should have in savings, and Google results in multiple articles stating that a 25-year-old should have an $80,000 net-worth. (Is that a joke? Am I just really far behind by not having even close to an $80,000 net worth?) +What is your savings goal and why? I would also appreciate input from those who are currently putting kids through college or have recent college grads. How much did you save and do you feel like it was enough? +I sold all my positions, most of which were in my 401k, on feb26 and feb27, and rode the train all the way down, and all the way back up. + +I've been waiting on the next shoe to drop, sitting entirely in cash, and it simply won't come. + +I could tell you the 500 reasons why I still think the market will and should drop, but I can't deny that it isn't and there is an increasing chance that it may not (significantly). + +I had drawn a line in the sand, and said that if the market got back to where it is today, that i would be forced to buy back in. The line has been reached and I am now rebuying most of my old positions for basically the exact price I sold them for, while some of my others that im not buying back into are even higher (IT oriented). + +I couldve bought in sooner and locked in some gains, but I wanted to remain greedy. + +Oh well, huge missed opportunity and now I'm fully exposed to this crap market and actually worse off than if I had done nothing. + +You can all laugh at me now. + +I should've just taken my tiny 5% victory last week. +Hi Guys + +what careers can i get into with an econ degree and i graduate in 2022?? + +I was mostly told I can become an economist in a business or in the government but that sounds very limiting . Some people said you can be a data analyst but it only seems companies look for people with an IT or CS degree for data analyst jobs + +What careers can i go into and what are you doing with you Econ degree? +Hi all, dumb question (maybe): let’s take two countries, country A and country B. + +They have the exact same economy, with one difference: country A has a private electricity market, whereas country B nationalized all electricity production and distribution and charges it’s citizens much less for the electricity they consume. As a consequence, taxes in country B are higher by the difference in market price vs price paid. Therefore, citizens, corporations, and the government all have the same amount of money in their pockets. + +Do both countries have the same reported GDP? +I understand that this is a probably a painfully broad question given the amount of different heterodox systems of economics and also that it is perhaps eye rolling in the same way that asking an astronomer “how could there be only one (round) shape of the Earth if people assert there is a flat, ring, etc. earth?” could be. For that I apologize, but I’m curious about what economists think makes mainstream economics commonly more rigorous and predictive than heterodox economics. I’d also be extra happy if there is some additional reading on the subject I could be given. +[https://www.latimes.com/politics/story/2019-09-18/bernie-sanders-affordable-housing-homelessness-southern-california](https://www.latimes.com/politics/story/2019-09-18/bernie-sanders-affordable-housing-homelessness-southern-california) + +I've been a political supporter of him, but I voiced concerns about the effects of rent control (I have real estate investments) on the Bernie subreddit and was pretty much shunned out of existence (stuff like, "we should ban property" and "landlord are leeches" etc etc) So I decided that probably wasn't the best place to ask for feedback + +Objectively (or as objectively possible), how does rent control affect a landlord like me who is in the middle-class and rents out a single-family home as an investment property? How will it affect renters positively or negatively? Thanks. + +EDIT: this wasn't a dig at any political affiliation btw, I'm just voicing my experience (which is anecdotal and not representative of everyone in that camp of course) +Hey guys, I have a quick question if anybody currently in industry would not mind answering. I have just finished a masters degree in economics with a focus on econometric modeling. + +I am currently in a situation making a decision between continuing onto a PhD in economics with a focus on econometrics and macroeconomic research, or pursuing a PhD in computational mathematics with a focus on data science. (This would allow me to pick classes from CS, modeling and simulation, statistics, math and big data analytics). + +Would anybody like to chime in on if it would be worthwhile to change direction to this applied math PHD? It seems like I will learn more valuable skills there... but it would set me back at least 3-4 semesters depending on how many credit hours would get carried over for an Econ PHD. Which degree would you prefer on a resume when interviewing potential quants / researchers? + +Thanks! +&#x200B; + +https://preview.redd.it/ot1hh5n4bs691.jpg?width=1280&format=pjpg&auto=webp&s=3bdcb853e216066bb35a74fc571b496e0f300be0 + +CNBC’s Jim Cramer says he "thinks Bitcoin BTC goes to $12,000, where it was before this whole fiasco began." + +BTC made a new 2022 low of $17,592 this weekend. Do you think $BTC might trade as low as $12,000? +TLDR; Long Whales are working the Max Pain Channel; IV + consolidation is approaching levels last seen before GME rose from $4 to $350. The Low Volume and Sideways trading is aligning the stars for a Gamma booster, into the short squeeze launch from a $1,000 platform. Enjoy this beautiful calm before ignition; sleeping soundly tonight, knowing Kenny G isn't. + +\*\*\*\*\*\*\* + +Last week I published a report on why Long Whales are orchestrating this channel $175-198 around Max Pain in options market and how it is designed to bleed the Hedge Funds of the funds they have left: [Our Whale is Suppressing Volatility to Bleed HFs -- Max Pain Explained](https://www.reddit.com/r/GME/comments/mi1a5r/our_whale_is_suppressing_volatility_to_bleed_hfs/) + +The strategy is clear, to me, based on the amazing and tireless work of fellow Ape DD's in the last week to explain the behavior of the Hedge Funds to delay their shorts while playing the deep ITM calls. This is coming to an end soon, based on DTC 2012-005 (if this is news to you, please check out [Legal Interpretation of the Proposed SR-DTC-2021-005](https://www.reddit.com/r/GME/comments/mi8mo9/legal_interpretation_of_the_proposed_srdtc2021005/) <-- this hasn't received the exposure I think it is deserving of, props to u/BigBrainBets) + +The long whales (and Blackrock, I'm convinced, at this point) aren't working together -- that would violate trading rules -- but they are surely aware of the long GME benefit of keeping GME priced in this channel (175-198) until things change. All you have to do is watch the price, and every time GME works to leave this channel, there is a powerful force pushing it back into it. Not much trading will send the stock up or down a few bucks, but try to leave the channel and it's a massive force pushing us back in. This is akin to having the snake (Kenny G) by his tail, as he tries to squirm up the Call chain or Down the Put (I mean poot) hole. Desperate to find any mechanism to slow the bleeding and survive another week. The last 8 trading days, this game of his, has stopped (and the deep ITM calls paused the last two days -- no doubt due to HF lawyers investigating 801/005 implementation/enforcement edit2: seems they have continued for now), we have leveled, flat (a beautiful serene calm, before the storm -- it has me excited, and I hope to show you why). It's a sign of the dwindling capital on hand for the shorts, and a shining beacon onto the lack of power they have left to manipulate GME to serve an options play aimed at pushing their shorts down the road and raising enough capital to keep the game going, as they do. + +# Why Do Long Whales Want IV Down? + +Take a look... + +&#x200B; + +[follow the hot pink](https://preview.redd.it/tz57bofhttr61.png?width=1803&format=png&auto=webp&s=94e09d9d4179b7df6c16f318b4109e33d038617e) + +This chart I've illustrated speaks for itself. There are moments, when stars align, and the variables are just right -- we're headed that way, and it's not by accident. Everything is happening, on purpose and with intent. We're entering a new phase. The optimal launch phase. It may last days, or weeks. + +Look, there are plenty of catalysts for the Short Squeeze, and we have seen plenty come and go (rip 3/19 - you had me so jacked to the... but my jack'dness is still growing; I see how much more powerful this is becoming, each day). Digesting DD, by the data, seeing this all unfold. And I hope by now, Apes realize, the longer **this** goes, higher it goes; the stronger it becomes. **The waiting that is.** + +I'm full of analogies, and one I'd like to throw out there, in this situation, is a compression spring. See we have plenty of things that could set of the short squeeze: + +\- Kenny G running out of money + +\- SEC passing DTC laws + +\- Gamestop recalling shares (voting) + +\- Gamma Squeeze (without Robinhood buy button vanishing as it climaxes) + +Among others. But also there are plenty of variables at work here that can boost the launch, maximize the height - all of them are aligning. Consolidation at $180 with IV lowering to levels we last saw when GME was $4 -- well that is insanely bullish! One of the catalysts is Gamma, which has been off the table for quite some time, due to the ridiculously high IV (implied volatility) numbers. (seriously, go read my linked "Our Whales" post above if this IV thing is confusing; I scratch the surface of why it's important there). Gamma is like a free ride to higher price, before a short squeeze even gets started. It's the options chain forcing market makers to push our price higher to cover gambling debt from Puts (shorts). Gamma requires a loading of Calls to be bought, so many, that Market Makers have to start positioning (buying) shares to ensure they have enough to execute the Call chain. As it cascades to higher and higher prices, so does GME's stock price. This Gamma squeeze is usually balanced by puts, but when stars align and people see catalysts, hype builds, and so do massive ATM Calls, and slightly OTM Calls pulling GME upward like a tide building into a tsunami. + +Sure... a squeeze could launch anytime, and shorts get stuck, fleeing. But as a wise man once said... + +https://preview.redd.it/fv5qfn97utr61.png?width=1792&format=png&auto=webp&s=3d7d5541a51488a35f9f25e083d8f0c5f9b1b4d7 + +And shorts are destroying themselves. I think they are confused why we haven't launched yet. They don't sleep at night, I can assure you of that. Hedge Funds have been destroying themselves with their naked shorts -- digging deeper, that hole from which they can't climb out of. + +Why do they do this? + +Because they are already done. Why did Bernie Madoff keep floating his Ponzi scheme higher and higher, despite being aware it would end someday. Well, he liked his yacht, he wanted to keep it longer. He didn't care if he destroyed more and more along the way. the HFs, in this case, don't care if they bring the whole system down with them. If they are going down, and they can survive another week on their Yachts... well that's better than prison. These aren't moral beings. You can't apply logic, rational, ethical thoughts to understand how they behave. Give these rats, another dead end to run down, and they'll just keep going... till they run into a wall. + +# The Spring Compresses + +... as we move sideways, the variables optimizing, for the perfect launch. The lower IV is, the more able retail and institutions are to jump on the Call Chain fueling the Gamma (stage one booster). See the Long Game powers (Long Whales, Long Institutions) of which we (retail) are a pawn in this game of chess (we secure the floor - we literally give them the assurance, that they can mock the shorts in this channel, because if a dip appears, we'll pile on to help the Longs get us back into the optimal channel - to bleed the shorts of money). The long team has been doubling up on the notion of allowing HFs to hang themselves with the rope they've been whineDing. Let me be clear, how important Apes are. We do the opposite of what HFs expect, when they deploy any measure to drop the price, and instill fear into the market. More GME gets bought! We aren't emotional investors. Retail is supposed to be stupid, and emotional... we are rational. That crayon that I stuck up my nose... call it a lobotomy. I feel the opposite of fear, when GME goes down... I feel excitement. + +When GME drops significantly (see that $115 dip Q4 Earning release week -- or Mondays' drop to $165 where the media jumped all over an apparent "sell off" hmmmm), we see the Media manipulation, and we get exciting, antsy. This is when I buy more. Because I know the media is playing the general public. I know Gamestop is a deep value play at 13B market Capitalization (See another post I contributed last week: [DD: Gamestop Price Analysis -- still a Deep Fucking Value under $550](https://www.reddit.com/r/wallstreetbets/comments/mhcmi4/dd_gamestop_price_analysis_still_a_deep_fucking/) ) + +# The media knows it can't play us. + +You want to see a Gamma Squeeze launch us to $1,000 before the short squeeze even gets started on those margin calls for a 1000% SI float (conservative estimate here)... just watch what happens the day the general public catches wind that weekly $250 Calls are selling for pennies on the dollar ($0.85 last I checked) due to that beautiful flat line fueled IV suppression. *(Edit 1: I'm not suggesting anyone here buy 250Cs... point is, retail gamblers who notice the Gamma potential might want to throw $85 on a chance to ride 100 shares to $100M each - they'd be less likely to if IV was higher)* + +# So why do they keep doing it? + +They are scared to death of the masses catching wind of what we know. We are waiting, till that day comes. Patiently. Eating crayons. + +Stay safe out there. Love each other. This is a beautiful thing to watch. History, playing out in real time. + +\*\*\*\*\*\*\* + +This is not financial advice. + +I don't know how the stock market works. + +I'm an idiot and don't know what I'm talking about. + +Any names associated with real life people is by coincidence only. + +This is pure fiction. + +Any reference to "we" is simply an acknowledgement of my self diagnosed schizophrenia. + +&#x200B; + +\*\*\* Edit 1 \*\*\* Clarifying Calls above + +\*\*\* Edit 2 \*\*\* addressing deep ITM calls above + +\*\*\* Edit 3 \*\*\* I've gotten a question or two on Max Pain for next week. It's abnormally low $135 as of this edit. That's because of an abnormality in Puts purchased for next week, and will come up to the $175-187.5 region Monday. \[Theory\] I have speculated that a large Put purchase in the 20P region may be a plot by HFs aiming to scare "not a cat" into executing his 500 12C (he's too smart for this though)... it doesn't take much to dump a huge number of puts into way OTM Puts (like 20P), because they are so unlikely to happen. In the case of GME... $20 (or a $1.4B valuation for GME) is laughable. They have half that, sitting in cash. Not to mention $2.1B in sales in Q5 of last year. This large Put purchase could have been to skew the Max Pain marker (now that we are looking at it) for next week. On Mondays Options players usually load up on Calls/Puts for the weeklies in high volume, so that's when you see legitimate Max Pain points establish. + +\*\*\* Edit 4 \*\*\* The beauty of that price channeling... on such low volume (usually an environment were massive swings can occur on a tiny nudge). \[*Price is moving below the 178 channel, no problem. Just a little nudge back up. Opp...$180... not so much... ok back to level...*\] this isn't normal. It's so beautiful to watch :) + +https://preview.redd.it/k2iszw4iutr61.png?width=819&format=png&auto=webp&s=48ee4afb22fc905b73e0e3567b5e999472828f99 + +\*\*\* Edit 5 \*\*\* Market close update, less than 100K total traded volume in the final 5 minutes **combined**. Only 37K volume in the final minute. Only 4.6M shares traded hands today. This is Twilight Zone material right here... + +\*\*\* Edit 6 \*\*\* Adding in an underrated post by a lawyer - his interpretation of DTC2021-005 (linked above and here: [Legal Interpretation of the Proposed SR-DTC-2021-005](https://www.reddit.com/r/GME/comments/mi8mo9/legal_interpretation_of_the_proposed_srdtc2021005/) + +\*\*\* Edit 7 \*\*\* tried editing on my phone and the formatting got messaged up (photos disappeared); bringing it all back up. Fixed: Ok images are back in this post... never doing that again. + +\*\*\* Edit 8 \*\*\* I see a handful of questions/comments saying in one form or another that bleeding HFs might be against Apes interest. The implication, stated or implied, is that HFs running out of money means we get less. This is false. I will address this (and the options chain) in a more detailed post soon, but the short answer to this is that the DTCC is insured to cover the losses that can't be covered by an insolvent hedge fund who can't make due on their debt obligations. Basically, Citadel with cash left to mess things up, does more damage to the short squeeze, and Citadel bled bone dry. I'd rather have the computers from the Clearing House automatically sending buy orders to fulfill debt obligations, than the HF delaying or putting off paying those obligations themselves in real time. The DTCC is insured in the 10's of trillions. Forgive me for not knowing the exact amount off the top of my head, but it's something like $35T, or $67T... That would take Gamestop's valuation to 30x Apples. Well over $1M a share. +I’m 18 years old and thinking about investing some money because I constantly hear “I wish I would have started investing earlier” or “I wish I knew what I know now about stocks at your age”. I have been researching but that seems to have made me more confused. I just need some help to get started and any advice would be greatly appreciated. Thank you. +Just a heads up, if you were looking for a call to action to make your voice heard: THIS IS IT!! + +&#x200B; + +The staff at the SRO are not stupid, if anything they are conniving and know exactly what they did. + +&#x200B; + +Take the time this weekend to jot down how you feel about these rule changes. Participate in the regulation of YOUR financial markets. + +Dr. T and others are correct, the best way to get the word out is to comment and to make them acknowledge how retail traders feel about proposed rule changes. + +&#x200B; + +Words words, GME is making history, words words, GME 4 LYFE, Words words, GME is making history, words words, GME 4 LYFE, Words words, GME is making history, words words, GME 4 LYFE, Words words, GME is making history, words words, GME 4 LYFE, Words words, GME is making history, words words, GME 4 LYFE, Words words, GME is making history, words words, GME 4 LYFE, Words words, GME is making history, words words, GME 4 LYFE, +For those of you who are not entrepreneurs running your own show, what was the favorite non-monetary perk your company gave you as an employee? We all have heard about the free lunches, ping pong or massages. But what was it for you? + +Mine was when my company informed me there was no need for me to get approval for travel, even international. They trusted me to know when I needed to be somewhere. There was still an approval signature on the reimbursement, but it felt very empowering as an early 30's employee (but ten years in the company) to be trusted as such. + +But what has been your favorite non-monetary perk? +Let's be clear here Francesco Firano (/u/TheBomber9) is a criminal. The hack was in November which means that he's been insolvent for months & has been defrauding new users out of their money to keep the exchange afloat. Once the Binance listing was imminent he locked all the exchange's assets. His actions show clear intent. If his exchange was hacked & he immediately reported it to the police, he'd just be incompetent but by hiding this from new users he transitioned from moron to criminal. + +This is the US legal definition of Fraud: + +* Fraud. A false representation of a matter of fact—whether by words or by conduct, by false or misleading allegations, **or by concealment of what should have been disclosed**—that deceives and is intended to deceive another so that the individual will act upon it to her or his legal injury. + +[In order to be convicted of fraud in the US, the following must be proved:](https://legal-dictionary.thefreedictionary.com/fraud) + +>Fraud must be proved by showing that the defendant's actions involved five separate elements: + +> * (1) a false statement of a material fact, + +>* (2) knowledge on the part of the defendant that the statement is untrue, + +>* (3) intent on the part of the defendant to deceive the alleged victim, + +>* (4) justifiable reliance by the alleged victim on the statement, and + +>* (5) injury to the alleged victim as a result. + +Now I'm not a lawyer but it seems to me that he is clearly guilty & convictable. It's likely the EU/Italian definition is the same since fraud is a universal crime. [He may also be guilty of running a ponzi scheme](https://www.law.cornell.edu/wex/ponzi_scheme) + +We need to make sure people don't get away with this sort of thing. I don't want to say he's destroyed people's lives because there is almost always a way to recover but he has certainly severely damaged peoples wellbeing. + +I'm in the US but if someone in the EU/Italy could contact the authorities & let them know about the situation maybe we can get a little bit of justice for his victims. I don't trust him at all when he said he has reported this to authorities, it's **very likely he completely misrepresented the situation to them** even if he did (which is also a crime). + +If you live in the USA & are a victim please call the FBI to file a report. Apparently extradition is possible between the USA & Italy. If there is enough outcry about this situation maybe we can get the wheels turning. + +Edit: [He's also guilty of embezzlement](https://legal-dictionary.thefreedictionary.com/embezzlement ) + +> Elements common to embezzlement are as follows: (1) the property must belong to a person other than the accused, such as an employer or principal; (2) the property must be converted subsequent to the defendant's original and lawful possession of it; (3) the defendant must be in a position of trust, so that the property is held by him or her pursuant to some fiduciary duty; and (4) the defendant must have an intent to defraud the owner at the time of the conversion. + +Edit: Evidence he knew about the hack (personally I think it's borderline impossible for him not to realize he's missing over 3/4ths of the XRB in his wallet but here's some hard evidence anyways). +From https://www.reddit.com/r/nanocurrency/comments/7wm2sp/collect_bitgrail_evidence_here/ +Screenshots of negative balance issues from January: https://imgur.com/a/FCIme https://imgur.com/a/YYf0U https://imgur.com/a/Qg7BL +[Source 1](https://finance.yahoo.com/news/intel-intc-q2-earnings-revenues-212509924.html), [Source 2](https://d1io3yog0oux5.cloudfront.net/_c871574f7a6bcf254c9a016f657cf6a7/intel/db/887/8856/earnings_release/Q2+22_EarningsRelease+%281%29.pdf) + +* EPS: $.29 vs vs $.70 expected +* Revenue: $15.3 billion vs. $18 billion expected + +Market | Q2 2022 | Year over Year +:--|:--:|--: +Client Computing Group | $7.7 Billion | down 25% +Datacenter and AI Group | $4.6 Billion | down 16% +Network and Edge Group | $2.3 Billion | up 11% +Accelerated Computing Systems and Graphics Group | $186 Million | up 5% +Mobileye | $460 Million | up 41% +Intel Foundry Service | $122 Million | down 54% + + + +Details: + +* Intel’s Client Computing and Datacenter and AI Groups were impacted by continued adverse market conditions; Network and Edge Group and Mobileye achieved record quarterly revenue. +* Full-year revenue guidance was from from $68 billion to $65 billion; reiterating full-year adjusted free cash flow guidance. +* Intel made significant progress during the quarter on the ramp of Intel 7 which is now shipping in aggregate over 35 million units. The company expects that Intel 4 will be ready for volume production in the second half of 2022 and is at or ahead of schedule for Intel 3, 20A and 18A. +* IFS recently announced a strategic partnership with MediaTek to manufacture chips for smart edge devices using Intel process technologies. During the quarter, Intel also launched the IFS Cloud Alliance, the next phase of its accelerator ecosystem program that will enable secure design environments in the cloud. +* In the second quarter, CCG launched the 12th generation Intel® Core™ HX processors, the final products in Intel’s Alder Lake family, which is now powering more than 525 designs. +* In DCAI, Intel expanded its supply agreement with Meta, leveraging its IDM advantage so that Meta can meet its expanding compute needs. In the quarter, Intel agreed to expand its partnership with AWS to include the co-development of multi-generational data center solutions optimized for AWS infrastructure, and Intel as a strategic customer for internal workloads, including EDA. Intel expects these custom Intel® Xeon® solutions will bring greater levels of differentiation and a durable TCO advantage to AWS and its customers, including Intel. In addition, NVIDIA announced its selection of Sapphire Rapids for use in its new DGX-H100, which will couple Sapphire Rapids with NVIDIA's Hopper GPUs to deliver unprecedented AI performance. +* NEX achieved record revenue and began shipping Mount Evans, a 200G ASIC IPU, which was codeveloped and is beginning to ramp with a large hyperscaler. In addition, the Intel® Xeon® D processor is ramping with leading companies across industries. +* AXG shipped Intel’s first Intel® Blockscale ASIC, and the Intel® Arc A-series GPUs for laptops began shipping with OEMs, including Samsung, Lenovo, Acer, HP and Asus. +* Mobileye achieved record revenue in the quarter with first half 2022 design wins generating 37 million units of projected future business. +Well this week, I finally made $1,000 not once, but twice. I'm going to explain my strategy I used because I have not seen it browsing through this forum. The only security I played this week was SPY and I only used call options. I only purchased 10-15 contracts per trade, roughly $1,200-$2,200. I traded primarily in the first 3 hours of the day. Here's how I did it. + +To start off, this trading strategy is pretty simple. The primary focus is on VWAP. When SPY goes below VWAP, especially in the first two hours, I scale into contracts as it goes down. When it breaks VWAP, I scale out as I see weakness in the trend. I will include screenshots of entry/exit points of trades I made. I went back a month to simulate when I would enter/exit positions and I was surprised to find that I would have been green on about 80% of trades I made. + +Here are the trades I made on Friday: + + [b578fd36a75a0d5c78e9c287b2e0b2fa.png (1655×1014) (gyazo.com)](https://i.gyazo.com/b578fd36a75a0d5c78e9c287b2e0b2fa.png) + +The green ovals are entry points, the red are exit points. I was profitable on 100% of the trades I took on this day. + +On Wednesday I didn't make a trade until one hour after open: + + [ffbabfe03426f526ede52af84f5861ea.png (1655×1013) (gyazo.com)](https://i.gyazo.com/ffbabfe03426f526ede52af84f5861ea.png) + +The first trade I noticed that VWAP was acting as a strong resistance, so I sold below it. I wanted my first trade to be quick and profitable so when it was near VWAP I exited my position. This is one of my rules for the strategy. If I notice VWAP acting as a strong resistance, I will sell and look to re-enter. + +This week was really great. I was profitable on 100% of the trades I made using this strategy. I think this is due to luck and market conditions. Obviously, the market was up. The conditions were perfect because VWAP acted as a magnet. I noticed one day a few weeks ago where SPY never went back over VWAP. I didn't trade with this strategy that day. However, my risk level is quite high and this a downside to this strategy. On a bad day when SPY doesn't cross over VWAP, there can be big losses. Everyone should set their own risk levels. + +Edit: forgot to mention strike price/expiration. I use the closest to expiration options and nearest strike price. For example, if Friday the price was at $391.78 I would buy 3/12 $392 calls. I draw my own trend lines and use candle stick patterns for entry points. No other indicators, but I keep an eye on RSI and 9 SMA +https://www.businessinsider.sg/initial-public-offering-how-unprofitable-companies-fared-2019-3/ + +Lyft went public Friday at a valuation of more than $20 billion despite recording heavy losses ahead of its initial public offering. + +Several other money-losing tech companies, like Uber and Pinterest, are preparing IPO filings. + +Markets Insider has compiled several examples of money-losing tech firms going public – they range from bankruptcies at Pets.com and Webvan to huge gains at Amazon. +# THIS IS A META THREAD IN WHICH I'M JUST DOING 2 THINGS: RANTING AND LINKING TO OTHER DD THREADS THAT PREDATE GME MOONING BY MONTHS, THUS CALLING BULLSHIT ON THE 6 MILLION NEW DEGENERATES THAT "HAVE NEVER SEEN A SLV JPM SQUEEZE IDEA IN THIS SUB BEFORE THE SUITS WANTED TO SAVE MELVIN". + +Do you realize reddit has a search function? Here is a list of posts that talk about a potential silver squeeze of SLV and JPM long, long, long before GME blasted off towards the moon. This is /r/wallstreetbets, not /r/GME. We trade multiple tickers, you dumbshit fucking "entry at $450" bag holding tards. + +Great, you joined in the last 2 weeks because your autistic nephew made more money in 2 months than you've ever done. + +Instead of just shutting up and watching the plethora of good DD posts rise and fall, you think this entire subreddit is only about holding one frickin' short squeeze as if that's the first time in history anyone got squoze, and downvote otherwise great research because you're frickin' terrified of losing money you couldn't afford to lose in the first place. + +The entire global media didn't all pool together in 48 hours to present a uniform story of "buy silver" as part of some frickin' conspiracy designed to save a few medium-sized American hedge funds. No more than COVID was made by the Chinese to win Biden the presidency, anyway. + +So here, since you guys are too damn handicapped to use a fucking search engine, are a list of DD/YOLO/Discussion posts about SLV and Silver written LONG BEFORE THE FUCKING GME SHORT SQUEEZE FINALLY ROCKETED!!! Jesus fuck, you tinfoil wearing sack of "fake news" American mouth-breathers with the collective IQ of a doorknob. + +Just look at the fucking DD and pretend GME doesn't exist for 5 minutes. Silver. Is. A. Deep. Fucking. Value. Play! It has value. So much fucking deep value! + +Yeah, no shit a market maker is holding silver positions when silver becomes more sought after, their job is to make fucking markets liquid. HOW ARE YOU GOING TO SUPPLY LIQUIDITY IF YOU DON'T HAVE SHIT TO SUPPLY?! DID YOU NOTICE HOW THEY HAVE A LOT OF PUTS AND A LOT OF CALLS, AND NOT JUST CALLS?! + +DO YOU THINK NO BILLIONAIRES HELPED RIDE GME UP? Do you think it was 100% retail on one side and 100% Melvin and Citron on the other? Ah, you do. Of course, you do. + + +GREAT, WE GOT 8 MILLION DEGENERATES HERE. The 6M that didn't manage to find this place without hearing about GME having rocketed already, MAYBE DON'T FUCKING POST, COMMENT AND BRING YOUR DAMN IGNORANCE INTO A SUB THAT WAS ACTUALLY PROVIDING 2-10 DECENT TRADE IDEAS PER WEEK PRIOR TO THIS CULT FUCKING INFESTATION OF JACKASSES COSPLAYING RETARDS. + +Whatever, here's a list none of you fuckers are capable of reading: + +\- 5 months ago, /u/negovany wrote "[Cornering Silver Market](https://www.reddit.com/r/wallstreetbets/comments/idjk61/cornering_silver_market/)". The whole thing is about JPM and squeezing silver. $GME was at $5 back then and /u/DeepFuckingValue was still getting laughed at for buying at every opportunity. Rest of you fuckers had barely gotten over the last cult following, PRPL mattresses. +\- 6 months ago, /u/lucasandrew talks about "[Why you should trade futures - WSB Edition](https://www.reddit.com/r/wallstreetbets/comments/i3qkex/why_you_should_trade_futures_wsb_edition/)", in which he mentions "*Speaking of SLV, people have been posting all the reasons that JPM fucks with the SLV ETF*". Yeah, I bet he took a fucking time-machine back 6 months in time after Citadel got stuck in the boo-boo. + +\- 6 months ago, /u/LE0TARD0 implores the "[SILVER CHAD'S RISE UP!](https://www.reddit.com/r/wallstreetbets/comments/hy7nvn/silver_chads_rise_up/)". A straight fundamental thread on why silver is undervalued, not mention JPM. However, in the comments, a thread is started by /u/kbtech18 and supplemented by /u/ayyayyron talking about precisely JPM and their price manipulation of silver. YEAH, NO THAT NEVER HAPPENED, I'M SORRY FOR BEING A SHILL, LIKE FUCKING TAKE YOUR TINFOIL HATS OFF YOU DUMB SHITS! + +\- 5 months ago, /u/Fuzzers wrote "[September Silver Futures Contact - Something Aint Right Kids](https://www.reddit.com/r/wallstreetbets/comments/i9b1th/september_silver_futures_contact_something_aint/)". +After hailing his fellow degenerates, HE IMMEDIATELY SAYS: "*I know there has been 6 billion posts about silver,"* before later writing "*A large amount of contracts will stand for delivery such as in July. If its enough, maybe some of the big banks who have short positions might find themselves in hot water with their silver delivery amounts.".* Isn't IT JUST GLORIOUS HOW MELVIN AND CITADEL HAVE ALL THESE TIME MACHINES TO MAKE UP IMAGINARY SILVER SQUEEZES 6 MONTHS BEFORE THEY WERE MADE UP? YOU GUYS ARE SO FUCKING DUMB RIGHT NOW, HOLY FUCK! DON'T INVEST IN SILVER IF YOU DON'T WANT TO, BUT PLEASE STOP WITH THE AMERICAN FAKE NEWS CONSPIRACY THEORIES, IT HURTS MY ALREADY FUCKED UP BRAIN, STOP, I DON'T CONSENT! + +\- 5 months ago (YOU GUYS, MAYBE YOU ARE RIGHT, ALL THE POSTS ARE FROM 5-6 MONTHS AGO, MAYBE IT REALLY IS A TIME TRAVELLING CONSPIRACY BY MELVIN AND CITADEL, YES, LET'S GO WITH THAT!), /u/jetter23, wrote "[Weekend Update - Silver](https://old.reddit.com/r/wallstreetbets/comments/i6l0o2/weekend_update_silver/)". What did he have to share, in terms of ideas and DD? " *4a) Banks will continue to fight us on silver, but they are losing as they were massively short,* ". WHAT SNEAKY FRICKIN' MARKET MANIPULATING HEDGE FUND SHILL HE IS, JUST GOING BACK SO FAR IN TIME TO SET US UP FOR THE PERFECT TRAP TO HELP CITADEL!!! + +\- /u/jetter23 was quite active shilling 5 months ago, he also wrote "[Weekend Update - Silver (DD#3)](https://old.reddit.com/r/wallstreetbets/comments/i9uxok/weekend_update_silver_dd3/)", where he just casually mentioned "*JPM is currently under DOJ investigation AGAIN for price speculation on Silver. JPM is learning a VERY expensive lesson that when there is a pandemic, global FIAT currencies are crashing(like the DXY), and there is a run on physical metals - you can't be naked short on paper."* IT'S ALMOST LIKE HE'S TALKING ABOUT SOME SORT OF SILVER SHORT SQUEEZE ON JPM, BUT HEY, THAT CAN'T BE IT BECAUSE THAT'S JUST A SCAM FAKE NEWS IDEA THAT'S 2-3 DAYS OLD, RIGHT? + +\- /u/CCJ_Moon_6969 popped his head into the stream of tachyons, relatively talking to us from the present all the way 6 months ago, when he wrote "[Silver. $SLV call options. New York Comex.](https://old.reddit.com/r/wallstreetbets/comments/hy8wv9/silver_slv_call_options_new_york_comex/)". Do you remember /u/kbtech18 from a few threads up? WELL, GEE WHIZ, HE COVERED THAT TIME STREAM TOO, talking about JPM and silver. 6 months ago. I mean, today. Reddit probably changed the timestamps on the posts. DAMN SHILLS! +\- /u/rawvi wrote "[JPM and Silver](https://old.reddit.com/r/wallstreetbets/comments/i88cyy/jpm_and_silver/)" 5 months ago, wanting to learn more about... time travel. Nothing to do with naked shorting of silver. BECAUSE THAT WASN'T EVER TALKED ABOUT ON THIS UNTIL 2 DAYS AGO, SO LIKE... HAH, HE COULDN'T HAVE BEEN ASKING ABOUT THAT, RIGHT?!?! CORPORATE SHILL BOT LOLOLOL! + +WE LIKE THE STOCK!!! + + +Don't buy silver, it's a time-traveling scam orchestrated by Kenneth Griffin! + I'm going to try to keep this simple and short. +Simple deductions from Ortex's comments say the following: +The data was real. The borrowed shares are real. +And they're probably in damage control. + +These are simply parts of this comment chain: + +[https://www.reddit.com/r/Superstonk/comments/ykacjy/comment/iuwj96s/?context=3](https://www.reddit.com/r/Superstonk/comments/ykacjy/comment/iuwj96s/?context=3) + +According to Ortex, here on reddit: + +https://preview.redd.it/dsw0x7q4tjy91.png?width=649&format=png&auto=webp&s=a7b0d3a0ae0946180fe57ec353dfd6e18a1bca92 + +"If the activity was related to broker-to-broker loans (as opposed to a data issue), then we would expect to see related increases in CTB data as each lender in the lending cycle would add a small spread to their fees to collect their margin. We did not see that here." + +When pointed out that IBKR, one of their data sources actually had an CTB increase that day they said: + +https://preview.redd.it/jy38uv48tjy91.png?width=582&format=png&auto=webp&s=e888f16734eb82c6be588f76805eb6141ecbcc8b + +"Just for technical clarification, our primary lending pool data does not necessarily include IBKR data but may at times depending on the situation." + +... + +"However, if IBKR does not have sufficient supply internally and goes out to the Street for the locate, and secures supply from a lender that uses the securities lending/finance management platform..." + +Which is true. IBKR is just one of many institutions that supply shares to borrow for shorting, to retail or otherwise. + + +But, this is the important part of their response: + +"securities lending/finance management platform" + +Also known as FIS. + +[https://www.fisglobal.com/en/products/fis-securities-lending-processing-platform](https://www.fisglobal.com/en/products/fis-securities-lending-processing-platform) + +This was already suspected a few days ago, u/CruxHub made a good post about it: +[https://old.reddit.com/r/Superstonk/comments/ygwlbh/ortex\_likely\_receives\_short\_interest\_data\_from/](https://old.reddit.com/r/Superstonk/comments/ygwlbh/ortex_likely_receives_short_interest_data_from/) + +/u/hell-mitc asked Ortex if it is actually FIS, but so far Ortex hasn't responded on that. + +&#x200B; + +After looking at Ortex's profile I found another response from them on another comment by /u/timmmmmmmyy in another thread. + +If you read that chain you see a comment from Ortex saying: + +https://preview.redd.it/blui67zctjy91.png?width=736&format=png&auto=webp&s=3c7233e83182bb763521336e61bbc9de4c53a66b + +"**There is no indication that some provider was intentionally providing false data for GME**. GME is just one of several impacted stocks, albeit with the largest following and interest." + +I think everybody here can agree that FIS can't afford to send fake data. + +So, the data we saw is, by Ortex's own words, **Real, unaltered data**. + +And with that: GME isn’t singled out. ALL of the tickers Ortex showed is based on actual real data. +To me, that’s an interesting point especially with all the swaps and CS still dealing with Archegos fallout. + +&#x200B; + +**Next up, some stuff about FIS.** + +**Disclaimer:** this is mostly a copy/paste from discord when the research was done**.** + +I’m asking you to pick this apart. Since Ortex completely ignored the question we have to do the research ourselves. This has never stopped this sub before, so let’s go! + +If you want to join the Superstonk discord, see either the sidebar or the menu bar at the top, or in the QV Bot comment. There should be a link. + +\-------- + +&#x200B; + +Interestingly, Credit Suisse is one of FIS's clients.. + +https://preview.redd.it/85ihel8ltjy91.png?width=700&format=png&auto=webp&s=7626c287e1d76354af7ef21b54e01a04941f4ff9 + +[https://www.fisglobal.com/en/insights/fis-client-stories/creditsuisse](https://www.fisglobal.com/en/insights/fis-client-stories/creditsuisse) + +From FIS website + +The company was founded in 1968 as Systematics™️, which was later acquired by ALLTEL Information Services, and then bought by title insurance giant Fidelity National Financial®️ in 2003, who renamed it Fidelity Information Services (FIS). Over the course of the next few years, FIS acquired several other financial technology firms, including Certegy®️ in 2006, eFunds®️ in 2007 and Metavante®️ in 2009. + +FIS is a registered trademark + +Offers this on their website + +[https://www.fisglobal.com/en/products/fis-compliance-suite](https://www.fisglobal.com/en/products/fis-compliance-suite) + +The "compliance suite" + +These are the patents assigned to FIS Financial Compliance Solutions LLC + +https://patents.justia.com/assignee/fis-financial-compliance-solutions-llc + +Patents Assigned to FIS Financial Compliance Solutions, LLC - Justi... + +Justia - Patents - Patents and Patent Application Resources + +Specifically this one + +[https://patents.google.com/patent/US9058380B2/en?assignee=Fis&oq=Fis](https://patents.google.com/patent/US9058380B2/en?assignee=Fis&oq=Fis) + +US9058380B2 - Methods and systems for list filtering based on known... + +Methods and systems are disclosed for implementing data matching techniques. In some embodiments, methods and systems may be implemented for filtering a received record associated with at least one record attribute against an entity record. The methods and systems comprise, for example, applying a record attribute weight to the at least on... + +Which states how their cross referencing occurs via databases + +“The disclosed embodiments provide methods and systems for list filtering. In one embodiment, list filtering enables transactions to be monitored and flagged for a variety of reasons. For example, if a participant in a financial transaction is known to have committed fraud in the past, a watch list filter system consistent with disclosed embodiments may flag the transaction as potentially fraudulent. As another example, if a participant in a financial transaction is known or suspected to be involved with a terrorist group, narcotic group, or is otherwise on a list of individuals known to be involved in illegal acts, a watch list filter system consistent with disclosed embodiments may flag the transaction in order to stop or pause it and/or alert appropriate parties (such as a government agency). In certain embodiments, a list may include, for an example, a watch list, a list of sanctioned or embargoed entities such as an OFAC (Office of Foreign Assets Control) list, RFC (Risk, Fraud & Compliance) lists, or the like. In some embodiments, lists can contain up-to-date information and known “good” data such as data obtained from a reputable source (e.g. a government authority such as the U.S. Treasury).” + +"...enables transactions to be monitored and flagged... a watch list filter system... may flag the transaction in order to stop or pause it... may include.. watch list.. of sanctioned or embargoed entities such as an OFAC.. list, RFC.. list or the like" + +&#x200B; + +So, to me this says the data from FIS has to be legit, all the time. +Whatever Ortex, or another institution gets from FIS is real data. + +Anyway, pick it apart, Do the research. Discuss. + + +I really tried to keep it short… + +&#x200B; + +Hatter out. + +Peace! +[SPY Total Return vs \\"The Wheel\\"](https://preview.redd.it/4yhrdjyj4mq51.png?width=600&format=png&auto=webp&s=a4200f16110132404e568411e70138880ba529a0) + +[A formal study of "The Wheel" is now live.](https://spintwig.com/spy-wheel-45-dte-cash-secured-options-backtest/#Results) + +Follow the link to: + +* see P/L curves binned by exit mechanic +* review charts and tables highlighting various performance metrics such as max drawdown, total P/L, Sharpe ratio, total return, etc. +* take an "under the hood" dive that looks into the strategies that experienced the greatest (5D hold-till-expiration) and least (50D early mgmt) total return +* learn how the wheel strat is materially influenced by timing luck + +Takeaways / TLDR: + +* All strategies except 30D early mgmt and 50D early mgmt were profitable +* 30D hold-till-expiration had the greatest risk-adjusted return among the wheel strats +* No wheel strat outperformed buy/hold SPY with regard to total return +* No wheel strat outperformed buy/hold SPY with regard to risk-adjusted return +* One of the strategies - 50D early mgmt - went negative despite wheeling being "safe" + +Edit: a word +I don’t have anyone else to share this with but in the past I used to struggle with spending all of my money due to a gambling addiction (that I’ve now overcome). Every time I’d put money in my savings I’d end up withdrawing it the next day and would gamble it all off, until I was sad, broke and the cycle would continue. Now I haven’t gambled in 6 months and I can finally look at my savings and be proud. +OK calm down apes, this is a good thing. Filing this now allows them to extract value from any price spike when they see fit in the future. We would be disappointed in the company if they failed to extract any value from the squeeze, as capital allows them to improve the business and service. + +This is the good, sensible play. These guys know what they are doing, and know they can also fuck the hedgies when the time is right. 3.5 million is nothing when 200 million are short. + +Keep the faith. Hold the line. Bide your time. The moon is ours. + +Edit 1. I'm an ape and need to correct autocorrect mistakes + +Edit 2. Link to article, didn't expect this to blow up like it did! + +https://www.stocktitan.net/news/GME/game-stop-announces-at-the-market-equity-offering-4l219uft8s2i.html + +Edit 3. Thanks for the up votes and awards etc but make sure you are doing it for real DD and Indredible analysis - this post is just meant to calm a few nerves in a sea of misinformation, so while I appreciate it, make sure you are giving love to posts that truly deserve it + +Edit 4. A few requests for me to change the title, but I don't intend to. The title is what it is, because that is the topic that is being discussed. There are plenty of excellent DDs diving into exactly what the filing is, and you should go and read their posts. This post is to give reassurance to Apes that have seen this "news" and have panicked. +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! + +&#x200B; + +https://preview.redd.it/zdhqy5b0hh781.jpg?width=700&format=pjpg&auto=webp&s=1f45811c5f941ca2a5719f232f700ba4a14039c7 + +*This is one of a series of posts where I will apply my fast and dirty historical fundamental analysis to some of the biggest dogshit stocks of the ASX. If you are interested in the process I use below to evaluate a stock, check out* [How Do I Buy A Stonk???](https://www.reddit.com/r/ASX_Bets/comments/lzjpvf/how_do_i_buy_a_stock/) + +# The Business + +&#x200B; + +https://preview.redd.it/t2b2vpw1hh781.png?width=1250&format=png&auto=webp&s=a23da3e344e3f4035edb1adc64f6cd2a02a1d577 + +Zip Co Limited is an Australian financial technology (fintech) company based in Sydney. They were founded in 2013 and since then have grown to operate across several countries, including Australia, the USA, and the United Kingdom. As a “Buy Now Pay Later” service, they work with tens of thousands of retailers and millions of customers to provide a flexible payment service that is interest free. + +# The Checklist + +* Net Profit: no year w/ positive net profit. Bad ❌ +* Outstanding Shares: a capital raise practically every year L5Y. Bad ❌ +* Revenue, Profit, & Equity: R&E growing rapidly, NP consistently neg. L5Y. Neutral ⚪ +* Insider Ownership: 20% w/ $66m+ worth of shares sold down L2Y. Bad ❌ +* Debt / Equity: 182% w/ Current Ratio of 15x. Neutral ⚪ +* ROE: -(57.1)% Avg L5Y w/ -(25.7)% FY21. Bad ❌ +* Dividend: no dividend yet paid. Neutral ⚪ +* BPS $2.08 (2.0x P/B) w/ NTA 31cents (13.5x P/NTA). Bad ❌ +* 10Y Avg: SPS 25cents (16.8x P/S), EPS -(12.9)cents (#N/A P/E). Bad ❌ +* Growth: +123.2% Avg Revenue Growth L5Y w/ 151.8% FY21. Good ✅ + +**Fair Value\*: $1.69** + +**Target Buy: #N/A** + +^(\*I’ve used a modified formulation to determine fair value, given that this is a tech stock focused on growth. As such, I’ve incorporated a weighting for cashflow based on gross profits per share, rather than including a dividend valuation.) + +# The Knife + +[marketindex.com.au](https://preview.redd.it/cktdqqjdhh781.png?width=1833&format=png&auto=webp&s=9c513b86f55ee55cf665fca3b1a37d5ef95cff64) + +Z1P had quite the year last year. Prior to the Mar ‘20 crash, it fetched a price in the $4 range, and after a pretty brutal fall relative to the market (reaching $1), it recovered… and then some. On the first trading day of June, the stock gapped up 33% from $3.75 to $5.01 at the open. It was on the basis of an announcement that it would conduct a capital raise to acquire QuadPay. From there Z1P flirted with breaking $10, but only briefly doing so in Aug ’20. + +Z1P had its last major bull run in Feb ’21 where it nearly tripled in a matter of weeks and achieved an all-time high of $14.53. But it only held above the $14 dollar level for a single day. 10 months later, at the close of Friday 24th 2021 @ $4.38, Z1P is down over 70% from its peak. With the share price now trading at levels not seen since Feb ’20. Even those who had bought Z1P the 2nd half of 2020, would likely be down 33% or more. + +# The Diagnosis + +Short Answer: Is Z1P the next Afterpay? 🤔🤔🤔 + +Long Answer: What was Z1P’s share price actually based on? Legitimate question, as this type of stock is far from my circle of confidence. I welcome Z1P baghodlers to comment below on their thinking at the time regarding a $10+ share price. As best as I can determine myself, the thesis was that Z1P was undervalued relative to another Australian fintech share; one which was on everyone’s mind in 2020. + +**Z1P vs. Afterpay** + +https://preview.redd.it/jijstjrhhh781.png?width=1424&format=png&auto=webp&s=1fb72882b28d524c7f39fa155c422361d4fb83f2 + +With revenue in FY20 of $160m, Z1P commanded a market cap of approximately $2.4 billion in the 2nd half of 2020. In contrast, APT @ $100 had $450 in revenue and boasted a market cap of roughly $24 billion. In other words, ten times larger than Z1P in terms of market cap, but only 3 times larger in terms of revenue. With these sorts of relative evaluations, it would make sense that Z1P might eventually triple its price and reach $15 a share. The trouble with this line of reasoning is that it relies on another stock, which may itself have been absurdly overvalued (spoiler alert?). Unfortunately for Z1P holders, the share only very briefly touched those sorts of price levels, and for the most part lagged its peer in this respect. + +&#x200B; + +https://preview.redd.it/cwx6yhjkhh781.png?width=2000&format=png&auto=webp&s=29c6d4ead961a8bfa1692c8ec9261fbd6f689fa1 + +In the 2011 film *Margin Call* (good movie, btw), Jeremy Irons, playing the CEO of a fictional investment bank, has a great line that I think is relevant here: + +>*There are three ways to make money in this business: be first, be smart, or cheat… it sure is a hell of a lot easier to just be first.* + +APT beat the rest of the BNPL market to the punch, and so it was first cab on the rank for the crazy gains that we saw last year. It was the biggest beneficiary of the market hype around this new type of business model. Z1P managed to capture some gains itself, but it was always in the long shadow of APT. + +**Bearish Year** + +Fast forward to 2021, the whole BNPL industry has been on the ropes; Z1P and APT were no exception. + +The first indication of weakness was just following the 1H21 reports. I think many BNPL investors were hoping to see some indication of improving profits levels, even if the companies were not yet in the green. The uptake and scale of the industry had gotten to a stage where it was reasonable to expect see some real potential emerging. Unfortunately, many 1H21 reports featured even larger losses than previous years. Z1P certainly racked up a whooper of a loss, and by the FY21 report had to ‘adjust’ a further $300m loss onto its books related to its acquisition, Quadpay. + +To complicate things, a larger macroeconomic story regarding central bank interest rate hikes was starting to brew. Risky tech stocks with no earnings like APT and Z1P were under threat of a potential bear market. That and maybe the market was worried that a tightening monetary policy in the future might crack the foundation upon which the BNPL business model had erected itself. + +**Potential Legislative Changes** + +That wasn’t the only thing Z1P had to worry about from government. More recently there has been a push from the banking sector to place the whole BNPL industry under more scrutiny. It is argued for example that the business model operates essentially like a credit card, but despite this, has not been obligated to adhere to the same rules that traditional credit card providers otherwise have to. + +One of the major points referenced specifically is the application of processing fees, which at this stage is borne exclusively by the retailers who offer BNPL payment options. This stipulation is part of the contract signed in order to offer the services at all. Given that the charges involved for BNPL companies tend to be several multiples greater than credit cards, reversing this rule could be a significant headwind to growing the fintech client base and otherwise incentivising them to use the services. + +# The Outlook + +Which brings us to a central question: what is BNPL really? It’s an important question, as understanding the core mechanics of the business model might give us some insight into how they may fare going forward. And more importantly, when (or whether) they can hope to become profitable. + +**The BNPL Model** + +https://preview.redd.it/hc6rlokphh781.png?width=2500&format=png&auto=webp&s=d2aad6c40f2daaa01aeed5dafd5fbf2705019f90 + +The business starts with banks (lovingly represented here by the nerds at AusFinance) lending money to Z1P. This cash resource is infused with various capital raises (as well as convertible note and warrant issues) to ASX\_Bets autists and retarded instos alike. With the cash and debt facilities in place, Z1P can then setup small credit lines for their Z1Pster accounts, which are used to buy stuff from retailers that have signed up to offer the payment option. Z1P pays for that purchase outright, and extracts a fee from the retailer in the process. + +The Z1Pster at that point has essentially given an IOU to Z1P, which they will pay off over certain time frame. Z1P doesn’t charge interest on the balance, but does get a small flat rate payment from the Z1Psters in the form of monthly account fees that are charged on accounts that hold over an outstanding balance. + +One key point of the economic BNPL ecosystem is that the bank debt facility that Z1P uses to facilitate these purchases has as collateral the Z1Pster IOUs. Indeed, this is part of the genius of BNPL companies like Z1P; they have managed to convince banks to extend an enormous lending facility to them without any recourse to chase the payment from the company itself. Should there be a default, the problem of chasing the IOUs becomes the bank’s; in reality, it’s probably easier to let Z1P continue to do that for them. + +**Traditional Credit Cards** + +On some level it is ironic that the biggest financier of BNPL are the banks, given that the same banks are likely seeing their share of the credit card market eroded by BNPL services. According to statistics from the RBA, the total balance of all credit cards in Australia in October of 2018 was approximately $55.2 billion dollars. Of that, $32.1 billion worth of the balance was accruing interest. + +&#x200B; + +[rba.gov.au](https://preview.redd.it/jbstp5trhh781.png?width=1200&format=png&auto=webp&s=7a20a10f8d5c1a1f14763aec66cb82c34aba5dbf) + +As of Oct 2021, the total balance was down 30% to $35.9billion. Strikingly balances accruing interest had reduced even further, half of what they were only 3 years prior. With the trend continuing, it would seem that many Australians are choosing to payoff and ultimately ditch their credit cards entirely. + +This also highlights one of the biggest differences between Z1P and traditional credit cards: the source of revenue. For the banks, the lion’s share of revenue comes from the interest charged on outstanding balances. The average interest rate on credit cards in Australia in 2021, according to the RBA, is just under 20% per annum. That’s big money for the banks. + +**The Potential of BNPL** + +In contrast to this old-school system, companies like Z1P are looking to capitalize on the process itself, rather than on the balances. Essentially, the idea is to capture enough of a percentage of the value of all the transactions that they don’t even need to worry about charging interest. + +This in turn incentivises Z1P to offer their service to the widest group of people possible, to allow for a larger potential pool of transaction opportunities. Indeed, they do this by offering a no-interest account which otherwise has little or no barriers to entry. With this sort of offering, Z1P has the kind of business profile that is appealing to younger demographics, whom otherwise have no interest or cannot access more traditional lines of credit. Z1P enables them to make larger purchases using a form of lay-by, anywhere that the BNPL company is accepted. + +&#x200B; + +[FY20 Annual Report](https://preview.redd.it/db3ad4kwhh781.png?width=1800&format=png&auto=webp&s=58a37495b077cd8a21f66798c4ea74d3f7a0dce5) + +According to figures in Z1P’s FY20 annual report, they estimated that the total global market for retail transactions is upwards of $22 trillion annually. It would only take a very small percentage of a very small piece of that pie to make up quite a big return. + +**Money Velocity** + +Because Z1P is basically making nothing on the balances themselves, their priority lies in turning over their client’s balances over as fast as possible. The faster the turnover, the more transactions that can be enabled by the same pool of debt funded money. + +&#x200B; + +[FY20 Annual Report](https://preview.redd.it/i4k31whyhh781.png?width=1200&format=png&auto=webp&s=63b006108379ba1f7b419153f238b65dfc633431) + +According to Z1P’s FY21 annual report, their repayment rate was 15%, and it was largely at similar levels in previous years. That is to say, their account users collectively pay off about 15% of their total outstanding balance (receivables) each month. This works out to be a money velocity of roughly 1.8x per year, in other words, their turnover (transaction volume) is about 1.8x the debt level maintained to support it. + +**Monetary Drag** + +There is a certain amount of structural drag to this model though. + +Firstly, and most obviously, is the interest rate that Z1P is paying on their debt. That interest rate is paid on a yearly basis. Therefore, the greater the velocity, the more processing fees are charged in relation to the rate of interest, which is essentially “fixed” in a temporal sense. With 1.8x velocity per year, Z1P are raking in a fee charge almost twice for each dollar of debt. + +Secondly, in large part because of the target demographic of young people without credit cards and a penchant for big spending, there is a certain amount of drag incurred due to some of those IOUs never being paid back. By the end of FY20, that percentage was sitting at around 2.2% overall “bad debts” (or about 4x the amount on traditional credit cards, based on figures from CBA’s FY21 report, which showed arrears at about 0.6%). This one is a bit more impactful for BNPL companies’ bottom-line, because it will more or less scales with the amount of transaction volumes, so a quicker money velocity will not reduce it. + +**General Prospects** + +BNPL is a fast-growing industry. While the concept of a credit card is not new, the idea of profiting off of money velocity rather than interest charges on static balances is an interesting innovation. The biggest advantage would seem to be the appeal and ease of use for its clients. Why would a consumer get a traditional card with a high interest rate, when they can get the same service without it? As such, the market share of the old credit model, perhaps really only relevant now to larger and longer duration loans, is easy game for these new fintech companies to cannibalize. + +Ultra-low interest rates on debt have allowed the business model to flourish. And those rates are likely to stay low for a while yet. This presents a great opportunity for burgeoning BNPL companies like Z1P to establish a foothold in the industry, and build up a large client base and balance sheet. Once established, the market for short term credit would appear to be virtually limitless, with trillions worth in transactions begging to be exploited. All in all, I think the future is bright as far as Z1P’s general prospects. + +# The Verdict + +Here’s where I start to have some reservations about the business model though. The idea of accessing trillions and essentially skimming a small percentage in the process is great. The trouble is, as a standalone business it’s a bit more complicated than that. One has to dig a bit past the headline numbers to get an appreciation for the potential issues that might arise. Indeed, for a company like Z1P the consolidated statement of profit & loss is less useful than the cashflow statement. + +**Cashflow is King** + +&#x200B; + +https://preview.redd.it/76ohecs0ih781.png?width=1200&format=png&auto=webp&s=f89e6cc802ea5790f409fb22f01698f26ab990fb + +Above shows 5 years of their cashflow statements, with the key line items featured, along with listing the two key metrics from their balance sheet: debt and receivables. The receivables noted are listed as assets in their balance sheet, but are in fact cash outlays on behalf of their Z1Psters, and merely represent the IOUs that the customer will (presumably) pay back at a 15% rate per month. Initially, the most glaring thing here is the leverage. + +In a traditional bank, the assets used to lend out on credit are theoretically backed by actual assets. Banks have savings deposits and other liquid assets that they can call on (e.g. central bank loans at lower than low rates) to balance against the outlays. Those assets have an interest liability too, but it’s a fraction of the amount that BNPL companies have to manage. + +On the contrary, BNPL companies like Z1P are pure leverage. The business model exists within the layers of debt derivatives. The debt IOUs incurred by Z1Psters are just many smaller debts on top of a foundation of debt. It is only in spinning of money in between that BNPL companies make bank. + +**Leveraged Leverage** + +As a result, one major catch point that the amount of debt needed to support this process is enormous in comparison to the cashflows it generates. In this case, basically $2billion in debt supporting $50m in operating cashflow. + +The whole thing teeters precariously on the assumption that a couple key metrics, repayment rates and arrears, don’t significantly change for the negative. Z1P attests to their sophisticated proprietary software that helps them to navigate this sort of liquidity risk. Even still, one wonders how BNPL companies may handle a sudden change in the market. + +Under good economic times, one would expect customer IOUs to largely get honoured in line with the historical bad debt levels. The real question is, what happens when times are not so good? While Z1P has secured their debts in such a way that the banks can only take possession of the receivables, should that occur, it would essentially mean the business is kaput, even if it is not technically insolvent. Such a separation of liability would unlikely do much to protect the value of the share price in such a situation + +I would be remiss to not mention that it was mortgage-backed derivatives that sparked off the GFC. They too hinged on assumptions regarding the surety of loan repayments, and it was the baghodlers of those securities that ultimately got burnt. Further still, the share price in a bank like Lehman, who were forced to declare bankruptcy in the tumult, were worth next to nothing almost overnight. Lehman prior to that point had a 170+ year history behind it and a market cap of $60 billion. Rock solid—until it wasn’t. + +**Capital Hungry** + +Another significant point to highlight is the massive amounts of liquidity injections that are required, not only from debt facilities, but also from capital raises. In the last 5 years, Z1P has brought in almost a billion dollars through share purchase plans and issues of convertible notes and warrants. I guess it’s a good thing for Z1P that their shareholders seem quite eager to help foot the bill; recent share purchase plans have tended to be substantially oversubscribed. + +&#x200B; + +https://preview.redd.it/406v9h42ih781.png?width=1000&format=png&auto=webp&s=490270c260ef8a0457f29728b46c11d6d145aa2d + +To be fair, BNPL companies are still in their infancy, and so regular cap raises shouldn’t necessarily be seen as abnormal or necessarily as a negative. In the future, these constant capital infusions shouldn’t be necessary when the core business grows large enough to support itself. + +But it must be pointed out that the positive net changes in cash that Z1P has achieved in these last 5 years, a good portion came from shareholders. Indeed, at this stage, there has been more outside capital infusion in the last 5 years than has been generated in revenues. When buying into this stonk, it’s important for a Z1Ptard to recognise that they may be called upon to materially support the business. + +**Business Model in Isolation** + +Many Z1Ptards see the dollar signs in the long run regardless of the dilution, and in no small part because of the absolute scale the enterprise could theoretically achieve, with trillions in market transactions globally. Therefore, I think it will be helpful to separate out and analyse the core business mechanism, to evaluate its long-term potential. + +As we’ve seen above, Z1P is about taking a pile of debt that is incurring interest cost, and turning it around as often as it can to generate fees. That’s all well and good, but what must be factors in is that in each cycle, it loses a percentage in the process (bad debt, bank fees, and data costs). It’s analogous to a fountain, in which a fixed amount of water is being cycled through continuously, but in each pass, some evaporates off or leaks out of holes in the pipes. + +&#x200B; + +https://preview.redd.it/g22piuv5ih781.png?width=1363&format=png&auto=webp&s=3825a1fe3f30b332b253173a1b8dc99a54d43db2 + +^(It’s a small point of clarification here, but a relevant one that the FY21 figures are likely a bit supercharged by the influx $660m in shares and note issues. As such, it skews this very simplistic model to make the velocity and effective interest rate appear better than what they actually were. The FY21 report cited repayments as 'averaging 15%' which is more in line with the previous years, and would effectively give a money velocity of 1.8x rather than what appears to be 2.7x based on the figures. Similarly, the weighted average interest rates in the same report are listed at 3.56%.) + +One thing we know explicitly from the annual reports is their weighted interest rates on the debt. What is not so clear is the other elements, but if we reconstruct the figures from the Consolidate Statement of Profit & Loss from each year, we can make some rough estimates for those figures which are otherwise not overtly stated. + +What becomes apparent is that the retailer fees would appear to be approximately 7% when comparing the revenue figures to the transaction volume. This isn’t a perfect ratio, because there are other marginal sources of revenue, but it’s a good baseline to work from. Outside of that, the bad debts appear to be pretty consistent over the last 5 years, average out at 2.3% of transaction volumes. Similarly, operational costs (bank fees & data) seem to run about 1%. That just leaves the interest rate on the debt, which is roughly 3.5%. + +**Corporate Costs in Isolation** + +On the foundation of this cash generating model, there are further core expenses that are necessary for the operation of the business, but could be considered more “fixed”. In other words, costs we would not expect to grow at the same rate as the revenue, and thus become a smaller portion of the overall costs of the company over time. These expenses include employee salaries, admin, and office leases. + +&#x200B; + +https://preview.redd.it/fhn9v2h7ih781.png?width=1200&format=png&auto=webp&s=df95920744bbedf19a500b9e961f717f7ed3ea10 + +Noted above are those costs over the same period as our business model table. Though, contrary to what we may have expected, many of these costs have risen very much in line with the revenue. Namely the salaries, which are the vast majority of the costs. It is concerning and of note that the share payments have exploded in recent years, as Z1P has issued many shares not only in capital raises but also as part of the mechanics of some of their acquisitions (most notably the $102.7m to do with Quadpay). + +We can though at least form a sort of “benchmark” for gross earnings. This implicitly is working under the assumption that Z1P can achieve further revenue growth from here without having to incur much more increases to their FY21 costs levels in those areas. + +Keep in mind that this benchmark figure does not include depreciation, amortisation, and other abnormal costs, and effectively does not include any allocation for further share-based payments (which are harder to predict). So realistically, Z1P would need to be generating closer to $250m gross profit as a minimum in order to net anything after expenses. + +**Projecting The Future** + +Let’s return to the core model and start to project out into the future. For one I think we can reasonably conclude that bad debts and operation costs are unlikely to change very much from their historical levels if the economy continues along unimpeded. Retailer fees could well change, but with such tight margins presently, it is hard to see Z1P reducing that much, if at all (I would think it is more likely to go up, competition permitting). + +That leaves interest rates. And for that, the future is unlikely to be kind to BNPL companies in the long run. + +&#x200B; + +https://preview.redd.it/8530gh69ih781.png?width=1361&format=png&auto=webp&s=b41944306aad6c303f9cd09ed1780c883d1bec36 + +Working back from our benchmark of costs of 200m and factoring in a 50-basis point increase in their debt’s weighted interest rate (to effectively 3.5%, which might otherwise be seen as no actual change), then we can estimate that Z1P will need about $11billion in transaction volume in order to break even with their core corporate costs. The picture gets progressively more difficult as the interest rates are hiked. + +The conundrum for Z1P and BNPL more generally is that there isn’t a whole lot of margin in the business model to begin with. Furthermore, scale does not solve that problem, because the margin itself fixed into the mechanics of the business. Even with $11billion of throughput (double that of FY21), after the core costs of interest, losses, and operational costs, Z1P would expect to only capture about 1.7% of their transaction volume in gross profit. That diminishes to almost 0.6% captured revenue, if the interest rate on their debt changes by only +2.5%. It is worth noting here that in 2018, the RBA target cash rate was 140 basis points higher than it is now. + +&#x200B; + +https://preview.redd.it/uq6lamsaih781.png?width=1400&format=png&auto=webp&s=41c93bd73bc58b421407a567fe8157ece754d1c1 + +Basically, if Z1P’s weighted interest rate on debt is in excess of 6%, all other things being equal, it will be exceedingly difficult for them to generate any gross profit. Keep in mind also, that this doesn’t include the corporate costs. Whatever the percentage of capture, it needs to support $200-300m in other costs, before Z1P is even coming close to getting into the green. + +**Difficulties in Adapting** + +What Z1P might hope to achieve to improve their business profitability is an increase in the velocity of their turnover or upping the retailer fees. They could also try to implement better measures for loss prevention. There is also an argument that, as Z1P establish their business and become larger and more profitable, they may be able to secure better interest rates on their loans. But all of these things are much easier said (speculated?) than done. + +The repayment rate from Z1Pster accounts has been very consistent over the years at about 14-15%, so that seems unlikely to change. Raising the percentage on retailer fees would be difficult, with competitor services likely to try to undercut them, and otherwise the size of the fee at some point becoming unsustainable or unpalatable for the retailer. With regards to bad debts, it somewhat comes with the territory, given that the target client. It has also been surprisingly consistent. + +As far as securing better rates on Z1P’s debt, there is a reasonable argument that they could hope to secure better rates as they get bigger. However, there is one flaw to the argument, specifically in relation to the overall size of the outlays. With banks becoming more and more cognisant of the threat of these fintech competitors, they may be less and less willing to extend massive debt facilities to BNPL companies with only IOUs as collateral. Or, at the very least, give them exceptionally good rates. + +Furthermore, it’s one thing for a bank to extend a $1b facility to a hyped up fintech with a $2.5billion market cap. It may be a bit harder to justify expanding that to $5b, $10b, or $20b as the BNPL company expands. Not only because the risk ratio might become lopsided against the value of the fintech, but also because the loan itself becomes more and more risky for the bank itself in light purely of its size. One might speculate that this may be one reason why Z1P chose to raise $400m of cash using convertible notes last year, rather than continue to draw down on borrowing facilities as they had done in the previous 4 years. Might there be more of that in the future? + +**Competitive Edge** + +This leads into another key aspect that makes me question of the long-term prospects of these companies. + +Do they have a moat? + +One might claim that their proprietary software and branding afford them some level of moat, but I would personally contend that that is mostly overstated. The competitive advantage of the BNPL business model is in how they’ve managed to restate the question of short-term credit. Without needing any source code, it would not be hard for banks to adopt a similar model of no interest rate credit cards with low barriers of entry. + +Indeed, banks structurally have a much better foundation from which to conduct such a business, since they can draw upon liquidity with substantially lower interest rate costs than the debt of their BNPL competitors. This would allow them to offer retailers a lower processing fee, for essentially the same BNPL service. + +If I had to make a prediction, I would say the most likely scenario in the long term is that banks end up acquiring the brands and platforms that these fintech companies develop (perhaps after they’ve been squeezed a bit by rate hikes). As an investment, this could mean a nice payoff in the buyout. Though, that is quite a bit dependant on one’s entry point. + +**Wrapping Up** + +I think that the business model is ingenious and would seem to have a lot of potential, but that alone does not make it a good investment. Many decades ago, airline companies were once at the cutting edge. They were the hyped industry and stocks of their time. Indeed, airlines quite literally changed the world. And yet, investors ended up with a much more mixed investment record by owning them. + +# The Target + +But let’s forget about all that. What is Z1P worth right now? + +Good question! + +&#x200B; + +https://preview.redd.it/ytfp0lrdih781.png?width=1200&format=png&auto=webp&s=33b6f4e097bde7cecf0cfcb215f76a3715b365ec + +Working from historical figures, it’s hard to give very much weight to the previous years. There has been a lot of growth and acquisition over that time period, such that the old figures are no indicative of the current company’s capability. + +That being said, it is also difficult with very much accuracy to predict future. Z1P has a fairly well-established record of doubling its revenue each year. But as an organisation grows larger, progress tends to become more difficult and inevitably slows. + +Besides, with macro-economic developments not only potentially affecting interest rates, but also the retail spending habits of consumers, it seems exceedingly difficult to make any reliable prediction for any specific amount of growth in the proceeding years. This says nothing of the threat for government legislative impacts, potential further dilution from capital raises, and the possibility of artificial limits imposed from stricter lending constraints. + +At the end of the day, I think it’s most reasonable to simply use the FY21 figures as a benchmark, but just slightly adjust the approach to how EPS factored in, given that it is negative. In addition, we can substitute a “cashflow” per share (based off gross earnings) valuation in place of the dividend valuation, like above with the historical fair value. As such, we can get the following fundamentals: + +* SPS: 70.6cents +* CPS: 24.5cents +* BPS: $2.08 + +Regarding the EPS, if the adjustments related to Quadpay are excluded (along with the -$102.7m related to the share-based payments), Z1P on net lost about $270m in FY21. I think it is reasonable to just do a straight deduction of this from our fair value estimate using the above fundamentals. That works out to be: + +* EPS-a: -(46)cents + +As for a relative target buy price, well that is basically impossible given there are no positive earnings, either on average or recently, so it really is upon the individual investor to decide what might be an appropriate entry point for themselves. + +Therefore, we get the following: + +**Fair Price (FY21) - $1.88** + +**Target Price (FY21) - #N/A** + +Z1P, as far as it is off its all-time high, it’s still likely 2-3x in excess of its fair value in my estimation. + +**Pricing In the Future** + +I’m sure that the question for many investors isn’t, what is Z1P worth presently? Rather, what could it be worth in the future? Or put a different way, how much of the current share price has already priced in the future? In the case of Z1P, this boils down to what sort of sort of transaction volume would they need to be reasonably sure of both turning a profit large enough to justify the share price. + +Working backwards, the current market wide P/E for the ASX200 is about 22x. On that basis, it might be reasonable to value a fast-growing stock like Z1P at 30x P/E. With a share price of $5.00 and a valuation of 30x P/E, EPS works out to be 16.7cents. Multiplied out by the current number of shares (588m), that is just under $100m in profits. Add in our corporate overheads (+$250m), that means that the core business would need to generate around $350m in gross profit. + +If we plug that into the Z1P business model, that means that the company would need to generate transaction volumes of around $20 billion, or produce $1.4 billion in revenue. On this basis, the current share price for Z1P has priced a tripling of their revenue, with otherwise no changes to the interest rates, retailer fees, or share count for that matter. It is not to say that Z1P couldn’t grow to that sort of level, but it is worth considering how much progress is needed in the business for the current price to make sense. + +# The TL;DR + +Z1P is a fintech start-up based in Sydney Australia and is one of several BNPL companies that are set to potentially change the way short term credit works. In the short span of 8 years, Z1P has built a company with a market cap in the billions. In 2020, it may well have been memest stonk of ASX\_Bets. Unfortunately, in 2021, it might as well have been a boomer’s dog. + +In hindsight, perhaps the Z1P share price was a bit more hype than fundamentals. Even down 70% from its highs, it is still seemingly pricing in 3-fold growth. But given the tight margins of their business model and the threat of being squeezed out by central bank policy, that prospect could be tenuous. At the end of the day, BNPL fintechs are an ingenious approach to short term credit, but that doesn’t necessarily mean that they are a good investment. + +*As always, thanks for attending my ted talk and fuck off if you think this is advice.* 🚀🚀🚀 + +*I'd love to hear other's opinion on Z1P and whether there is potential here that I am not seeing. Also, suggest other dogshit stocks that are/were on the ASX 200 index, and I might put them on the watchlist for a DD in future editions of this series.* + +*On Deck Next (Fortnight?): First 10 Update* + +*Currently on the Watchlist (no particular order): CGF, IPL, FLT, QAN, CWN, FNP, OML, WPL, CIM, CGC.* + +[Previous Editions of Catching the Knife](https://www.reddit.com/user/Nevelo/comments/sfc7gi/catching_the_knife_series/) +Every day I see someone who has NO clue what they are talking about regurgetating what they read online and is misinformation. + +Every single response to my threads now in the last year has been some idiot who posts a link to something that is untrue or peddling their garbage property management software and it's obvious they didn't even read my post. + +Case in point the realtor who posted a link to a FB group saying eviction moratoriums are not enforceable in WA and that the governor said he wouldn't enforce them. A 30 second google search showed this was all completely untrue and every legal challenge against the governor was thrown out and that he never said that. Some random twit on FB said it and this idiot realtor believed it. + +In the same thread, another realtor popped up offering to help me sell all of my rentals. He was looking at 300K in commissions. I'm like WTF do I need you for? I sold all of my other houses myself in a day. + +Then today some idiot comes and posts in my thread, not having read my post at all, just posts a vague it depends on your situation, oh by the way you should get my property management software.... + +I literally just signed out of my account. That place has become the place for MORONS. +Every day I see someone who has NO clue what they are talking about regurgetating what they read online and is misinformation. + +Every single response to my threads now in the last year has been some idiot who posts a link to something that is untrue or peddling their garbage property management software and it's obvious they didn't even read my post. + +Case in point the realtor who posted a link to a FB group saying eviction moratoriums are not enforceable in WA and that the governor said he wouldn't enforce them. A 30 second google search showed this was all completely untrue and every legal challenge against the governor was thrown out and that he never said that. Some random twit on FB said it and this idiot realtor believed it. + +In the same thread, another realtor popped up offering to help me sell all of my rentals. He was looking at 300K in commissions. I'm like WTF do I need you for? I sold all of my other houses myself in a day. + +Then today some idiot comes and posts in my thread, not having read my post at all, just posts a vague it depends on your situation, oh by the way you should get my property management software.... + +I literally just signed out of my account. That place has become the place for MORONS. +There are only so many times you can get the hell scared out of you by those dips...I really don't bother anymore. Any of you have reached the same state of "I don't give a fuck?" +That monday was interesting to say the least 😄 +Welcome apes from all continents, this week MIGHT be fun, but we shouldn't get ahead of ourselves, we are here to hold, not for a price jump of 50 $! +Enjoy it, have some fun but remember to take deep breaths when you feel like selling 😉 +Let's see what happens today: + +Current price "115 minutes in: 179.57 US-$" + +FAQ: + +Where do you get our numbers from? +- +I trade through my bank account and just refresh the page to see the current price. I then use my conversion app ( Euro to US-$ ) and post the result. +I try to post every 5 minutes, but I am at work so I can't guarantee it 😄 + +Why are your numbers different from the ones I'm seeing online? +- +My banking app shows me the best price that I can sell for right now...it compares Frankfurt, Munich, Stuttgart, Berlin, Düsseldorf, Hamburg, Xetra and "Direkthandel" (meaning "direct exchange"). +That's why my movement may differ from your sources online. + +I don't trust those germans, look at what they did in the 20th century...can I get another source? +- +Sure, you can take a look here...just remember to convert from € to $! +https://www.ls-tc.de/de/aktie/gamestop-aktie + +Can you post the volume too? +- +I can't see the volume on my banking app but you can find it online or probably in my comments, since some friendly apes talk about it often. +But remember how low the volume is in the US pre-Market and we're talking pre US pre-market here so I think that the volume doesen't reeeeally matter this early into the trading day. + +Why are you doing this every day, what's the point of posting these numbers, since the volume is nothing compared to the one in the US? +- +I think that it's less about the numbers, it's to show that every minute of every day, there is an ape who's holding GME. +Look through the comments, there are people from all around the world just wishing each other a good morning, how awesome is that? +I think that this feeling of camaraderie is critical, it's good to know that I'm not the only one liking this stock. +I'm holding since november and I will continue to hold for my brothers and sisters. +We are not a union, we are all individuals who like the stock, but we're still family! + +Starting: 181.74 US-$ + +5 minutes in: 182.94 US-$ + +10 minutes in: 180.53 US-$ + +15 minutes in: 178.73 US-$ + +20 minutes in: 178.19 US-$ + +25 minutes in: 179.03 US-$ + +30 minutes in: 180.53 US-$ + +35 minutes in: 181.13 US-$ + +40 minutes in: 182.34 US-$ + +45 minutes in: 181.13 US-$ + +50 minutes in: 181.44 US-$ + +55 minutes in: 182.34 US-$ + +60 minutes in: 181.74 US-$ + +65 minutes in: 180.47 US-$ + +70 minutes in: 180.59 US-$ + +75 minutes in: 181.32 US-$ + +80 minutes in: 181.74 US-$ + +85 minutes in: 181.74 US-$ + +90 minutes in: 181.74 US-$ + +95 minutes in: 181.74 US-$ + +100 minutes in: 181.74 US-$ + +105 minutes in: 181.74 US-$ + +110 minutes in: 180.47 US-$ + +115 minutes in: 179.57 US-$ + +The US pre-market is open so that's it for the day! 🇺🇸 +We tried to hold the price for you as best as we could, now you guys and girls take it from here!! +Let's give 'em hell! +A cryptocurrency wallet is basically a software that enables you to track, send and receive coins through the blockchain like a bank account. Every wallet has a public key and a private key, but we'll get back to this later. But first... + +# Why do you need a wallet? + +There's an old saying in Tennessee that says: **"Not your keys, not your coins."** What it actually means is that if you keep your cryptocurrencies on an exchange (such as Coinbase, Binance or Kraken), you don't actually own those coins, because you don't have the keys to the related wallet. You gain access to those wallets by logging into these exchanges, but your account can - theoretically - be deleted in the blink of an eye, or the exchange can get hacked, attacked, etc. And with it, your funds can disappear forever. If you want to learn more about this, make sure to look up Mt. Gox's hacking. It is an unfortunate event, but one that puts you on guard. + +So you already know that you need to own your keys in order to own your coins. **But what are these keys?** + +Your **public key** is what identifies your account on the network. Think of it as your email address, because when someone wants to send you cryptocurrency, they will send it to this address. + +Your **private key** is a string of 64 characters that can be generated from a 12-word seed phrase. It basically serves as the password of your account. It is used to sign transactions and to prove that you own the related public key. + +See, it's not that complicated, is it? + +# About wallet types + +There are 4 types of wallets that you should be using. Ideally, you can pick the one that fits your crypto habits the most. You should avoid using Web wallets. As always, if you can, please pick the safest wallet type in order to minimize the risk of losing your cryptos. + +**Hardware / Offline / Cold Wallet** \- an offline storage device (e.g. hard disk, USB stick). You might've heard the names Ledger or Trezor, these are the 2 biggest brands at the moment. The ledger supports over 1200 cryptocurrencies, while Trezor supports over a thousand. It is also the most secure way to store your cryptocurrencies. + +**Mobile Wallet** \- applications that are installable on your mobile phone. Beware that even though an app can hold crypto, it doesn't mean it is NOT custodial. (e.g. Coinbase has a mobile app, but it is custodial, meaning that they control your coins.) Exodus or Atomic mobile apps are recommended if you decide to create a mobile wallet. + +**Desktop Wallet** \- wallets that are installable on different desktops and are compatible with Windows, Mac, and Linux. Your keys are stored on your computer, and you can use this wallet even when you're offline. Note: Desktop wallets tend to be more advanced than mobile wallets, and usually come with more technically complicated features that can increase privacy or allow for more flexibility when it comes to signing transactions. + +**Paper wallet** \- a paper wallet is essentially a piece of paper including your public and private key, or a QR code (so that you can quickly scan them and add the keys to a software wallet to make a transaction). It's a really safe way to store your cryptos because your keys are not connected to any servers. The only way someone can steal your cryptos is if they steal this paper. + +# The Best Hardware Wallets + +**Ledger Nano (S and X)** \- The most popular hardware wallet brand in the world, currently sells 2 different sticks. The S is the cheaper alternative, but if you handle transactions between multiple cryptocurrencies frequently, the larger storage of the Nano X should be more convenient. The Nano X also has Bluetooth 5.0 support. You can read more about Ledgers on their website. + +Beware that **Ledger was targeted by a cyberattack that led to a data breach** in July 2020. A larger subset of detailed information has been leaked, approximately 272,000 detailed information such as postal address, last name, first name, and telephone number of our customers. However, not a single coin was stolen as hackers didn't gain access to private keys. Please keep this in mind when making your decision. + +**Trezor (One and Model T)** \- Trezor is the other popular hardware wallet brand. The Trezor One is the cheaper alternative ($59), while the Model T is more expensive but comes with extended functionality and additionally supports cryptocurrencies such as ADA, XMR, XTZ, etc. + +Despite the security of hardware devices themselves, **the weakest link is always the people using them.** If possible, avoid buying used hardware wallets, even though both Trezor and Ledger have security measures to avoid the attempt of installing malwares. + +# The Best Desktop Wallets + +**Exodus** \- a very user-friendly and easy to understand, reliable wallet. As of now, it is probably the most popular desktop wallet. Available on Windows, Mac and Linux as well. + +**Atomic** \- it is also a user-friendly and reliable wallet. Atomic supports 500+ assets and allows staking various cryptocurrencies. Available on Windows, Mac and Linux. + +Of course, there are several other reliable desktop wallets, but these two proved to be the most user-friendly and easy to use wallets so far. As always, please DYOR! + +**If you decide to go with a mobile wallet** (instead of a paper, hardware, or a desktop wallet), Exodus or Atomic are both available on iOS and Android. Please avoid installing 10+ crypto wallet applications on your phone, because you'll make it impossible to keep track of your keys and passwords eventually. + +Last piece of advice: always be cautious and double-check everything. Keep your devices malware-free, and don't click on anything suspicious (such as emails from "Binnance", crazy bonus links from "Coimbase", etc.) + +If you have any questions, feel free to let us know! +Hey guys, + +This Post is **NOT** there to bash or to make fun of People that Trade the so called "SMC", but rather to make People realise that they are **not** trading like the Banks or Institutionals do and they are **not** trading any different from the so called "retail traders". + +Again, those concepts are completely fine, basic price action + time of the Day is being used, just like what most Traders are using for their trading. Nothing wrong with that. + +So please dont cry in the comments "BuT I aM vErY PrOfItAbLe, It HaPpeNs EvErYdAy" + +&#x200B; + +1. Why do I think ICT and SMC is so hated among many? + +\- Most things are renamed to make it sound more interesting and appealing for new traders (we talk more about this later on) + +\- ICT and many other "Mentors" are very arrogant and specially ICT is claiming how he invented all those things and everyone else is a fraud (probably the dumbest thing I have ever heard) + +\- New Traders watch ICTs videos and copy his way of speaking/attitude, meaning even if they are barely called a "Trader" they already adapt the arrogance, making them an unlikeable bunch of (mostly) Teenagers. + +**I am talking about the majority of SMC Traders, obviously not everyone in this like this** + +&#x200B; + +2. Lets talk about about renaming known terms + +\- Orderblocks: Its simple Supply&Demand, anyone claiming Orderblocks are "refined" Supply&Demand Zones, please show me how is it possibly different/refined + +\- Breaker/Mitigation Blocks: Really? those 2 are the same to begin with. They do the exact same thing. Anyway... its just Support turned Resistance and vice versa. + +\- FVG/BISI/SIBI: (Does he really need that many names for the exact same thing lol) Its nothing else then what many Traders call an "imbalance". + +\- Void: literally called a clean Candle by anyone else + +\- CE or consequent.. something: its just literally the 50% of either a clean Candle (Void) or an imbalance (FVG), Traders have used the 50% level when ICT still made turds in his Diapers. (not really, but you get the point). + +\- OTE: Literally just the commonly used "golden zone" on the Fib with a random number added to it, to make it look different. + +Sell/Buy Model: The concept of 3 pushes/waves has been used for decades, ABC Pattern, Elliot Wave and so on, this is just another version of it. You dont need to be Einstein to figure out that "Model". + +Thats about all I could think about, if I missed some Terms, whatever. + +&#x200B; + +3. Lets get to the main Event, the flawed logic behind those concepts + +Liquidity and how retail Traders are getting hunted by the Banks + +\- Banks going for retail Traders: + +This is just complete nonsense, sorry. Its again a great business model, "Dont Trade like the retail traders, 99% lose money, do the opposite". + +But its logic is completely flawed. Banks are **not** trading against retail Traders, they also **don´t** care where your stoploss is. + +Banks are competing against other Banks and Institutions, you are just a small Mosquito that gets caught in the "war" and dies by a random arrow that was meant for someone else. + +Retail money is so unsignificant that your money is **COMPLETELY** useless for them, your Money wont help the Bank move a single Pip. Forex is the most liquid Market in the World. Dont be delusional. No one cares about your 100€ Balance. + +&#x200B; + +\- Liquidity: + +Yes, Banks need and want liquidity, but as previously said it has **nothing** to do with you whatsoever. + +Knowing that, do you really think you know where Orders from Banks and Instutions are? I surely dont. another thing, they can also cancel their Orders right before price would take them in the Trade, how would you know when they do that? I havent found anyone who knows that. + +now to liquidity above lows and highs... can you tell me what is the difference between + +SMC Trader: We are in an uptrend, Banks are going for the liquidity above the highs. + +and + +Retail Trader: We are in an uptrend, we expect it to continue and break the highs. + +There doesnt seem to be any difference for me. + +same with lower timeframe logic: + +SMC:Its going for sellside liquidity before going up, I wait for BMS and take the Trade on a Breaker + +Retail Trader: likely a deep pullback, looking at the HTF, I wait for a Market structure change and trade the retest. + +&#x200B; + +All those things are completely the same. + +**You are not trading like the Banks, its impossible. You are not trading different compared to any other retail trader. You are not something special, You are not different.** + +I want to hightlight again, I am not saying SMC trading is bad, its working completely fine, **but** you are not doing anything worldbreaking, you are trading basic price action like everyone else does. + +You just make it sound a bit more cooler. Congratulations. + +&#x200B; + +I could go on and on, but I think the point is made. + +&#x200B; + +Have a good Trading week. Cheers. +So I (22F) started trading a couple months ago, and it's apparently become an issue. Most of my friends and family support me and are happy that I found something I enjoy. But my boyfriend (22M), seems to have an issue with it. He says that money isn't everything and that I have to pick him or trading. I'm not really sure what the issue is because even if I trade all day I make sure to call or face time him. I will even invite him over but he says to contact him when he has my undivided attention. Has anyone else faced an issue like this? +I hope this helps at least one person. No one should get slapped with a bill or collections notice that is not their responsibility then get told to “just pay it.” + +My loving husband came with a very nasty ex-wife. They were AT&T users and after they split, he did a transfer of billing responsibility(TBR) to split their account so she would be responsible for her line and phone and he for his. He got a new account for his line and phone payment. After we got together, we paid off his phone, closed his account (“Thank you, Mr. X for your service all these years. You have a zero balance. Have a nice life” or whatever they say when you leave them) and he was added to my Verizon account. All was well, right? + +A few months later, we got another collections letter. (We already paid off all his other collections and credit card balance from her.) Of course, I was pissed because this one was $800 and I thought we were done paying off his past. So he called AT&T to ask about the bill. “Mr.X, your account is showing a zero balance. Disregard the letter, we’ll take care of it.” Ok, cool. Keep in mind, I have no idea how collections work because I’ve never made a late payment in my life. + +I can’t remember the exact timing, but we received another collections notice. Now we have a mortgage and a baby, I was on unpaid maternity leave, and what we don’t have is an extra $800.00 laying around for this bill. Again, I’m pissed. My husband was/is working from home (Thank you, COVID) and when he came out for break I had him call AT&T again. The call lasted TWO hours. (His amazing boss put him on PTO to deal with it.) I won’t go into the details but the just of it was that the TBR was not done properly so when Ex-Wife decided not to pay her bill, it got kicked back to my husband. They said it looked like someone just copied his old account and threw the bill onto there, so it would be classified as fraud because the account was open without his knowledge. Ok, cool. We’re done. + +Nope. Two weeks later, the fraud department sends us a letter stating there was no fraud and he was responsible for the bill. WTF. Then I got on the phone. I had finally gotten someone on the phone who could see the failed TBR, how the line and phone was supposed to be transferred to Ex-Wife’s mom, and that my husband was not responsible. Woo-hoo. + +Nope. And then I got transferred again and again and again. I end up on the phone (finally) with a manager. This B tells me “Mrs.X, I don’t see any history of a TBR or your husband calling in during the time you’re stating.” WTF. I thought we were finally getting somewhere. She told me, “ The same thing happened to me when I split with my ex and I had to pay his bill.” She told me to just pay the bill. HELL NO. + +I spent FOUR hours on the phone with AT&T that day. So now the total hours wasted on the phone with AT&T totals around 6.5 hours. I was furious. I hung up the phone dumbfounded and questioned my husband again about everything. He assured me he did it on the phone in Sept the previous year. It just didn’t make sense- how could that one person get it right and then everyone else give me the runaround? + +So my husband went to the actual AT&T store. Sat down with the manger who saw EVERYTHING on his account and it was taken care of in 30 minutes with two more 10-15 minute visits to the store to finish it up and verify. AT&T messed up the TBR and it was, in fact, NOT my husband’s responsibility to take care of it. When he went back the final time to make sure everything was taken care of, his entire history with AT&T was wiped clean, like he never even had an account there. I had also really hoped the bill would get kicked back to Ex-Wife, unfortunately it didn’t. + +Larissa, the manager over the phone at AT&T who told me to “just pay it,” you’re a crap employee. +And I'm just feeling really defeated. I've been scraping by but now the majority if not all of my income is going to be going towards rent alone. I was homeless for a large portion of my childhood and I've tried to stay hopeful and tell myself that if I worked hard enough, I'd be able to buy a house and give my kids the life I never had but... it just seems so impossible. + +I've been living at this place for 6 years, this is the longest I've lived anywhere, this has been the only home my kids know. I couldn't move if I wanted to (have to make 3x the rent to qualify anywhere) so I don't have a lot of options. + +Not really looking for advice, I just needed to vent to someone that understands... thanks for reading +My husband sold a 2003 VW Golf on Craigslist for $600. It has 323,000km on the odometer. He babied it, rarely if ever took it to 100kph. He disclosed to the new owner that it did drink oil. The new owner called five days later to say that a gasket blew and he wants his money back. Knowing my husband, he likely didn't write 'as is' on the receipt. Point of note - within a day, the new owner posted the car for resale for $2000. Does the new owner have any recourse? We are located in BC Canada... +I’m 30, very ambitious and have a high NW for my age. I’ve been grinding hard since I was 16 years old and a recent distant friend was just given a terminal prognosis and it really shook me. I find myself wondering if it’s time to let off the gas a little on my career and enjoy the ride a bit more. Did any of you encounter a point on your fat fire journey where you let off the gas a bit? What did that look like in your life? +**\*\*\* We have an easy $69m MC absolute MOONSHOOT here \*\*\*** + +Launched only 24 hours ago and farming just went within the first hour ago....That's right, a bloody MEME DOG token with all the lovely cloned SafeMoon RFI features we know and love, butttttt....... **WITH YIELD FARMING!!!!!** This is a complete first during the current MEME season which is happening. + + +\*\*\* Public Thirst Announcement: Beautiful Dev will create special and rare NFT of her ASS for all holders when we reach $69m Markletcap!!! \*\*\* + +So ASS has ridden a huge wave of momentum in the first 24 hours, look at some things which have already happened: + + +* 2500+ holders +* Major TikTok marketing engaged, with **over 40 Cameos booked and paid fo**r which are dropping in next 48 hours +* 1 Farming partner already locked in with multiple inquiries from other big farms to integrate +* AMA's have been booked and scheduled +* NFT's of Beautiful doxxed dev have been MINTED! +* Multiple CEX's have reached out to list ASS +* Many other coins have reached out for partnerships +* Dev's went on Video Zoom call with everyone in Telegram +* \+ Many, MANY more things I can't think of + + +Other info about ASS which has not changed: + + +* Doxxed Dev +* Yield Farming +* Liquidity Generation +* 5% reflected among holders | 5% additional tax for selling to create a rising price floor +* 100% fair launched on BSC + +Here is everything you need to APE in and join: + +👩‍🌾 [Farming](https://beeswap.bz/farms) + +🐕[Buy on PancakeSwap](https://exchange.pancakeswap.finance/#/swap?outputCurrency=0x7c63F96fEAFACD84e75a594C00faC3693386FBf0) + +📱 [Telegram](https://t.me/asstokens) + +🐶 [Twitter](https://twitter.com/assfinance) + +🐩 [Website](https://assfinance.com) + +🍑 [NFT's](https://app.airnfts.com/creators/0xC516aF40872dE9F265aC39A8A87Ce404852A427f) + +🐕‍🦺[Liquidity Locked](https://team.finance/view-coin/0x7c63F96fEAFACD84e75a594C00faC3693386FBf0?name=Australian%20Shepherd%20Token&symbol) + +📈 [Chart](https://poocoin.app/tokens/0x7c63f96feafacd84e75a594c00fac3693386fbf0) + +Some other nice things to know before you APE in: + +🐕 Slippage: At least 11% +🐕 Max TXN amount: 200,000,000,000,000 $ASS +🐕 Max TXN amount: Two Hundred Trillion +🦮 Smart contract provides LP every time it accumulates 30,000,000,000,000 (THIRTY TRILLION) $ASS, this creates a 🔥 RISING PRICE FLOOR🔥 + +Let's get on this up to $69m Marketcap ASAP!!!!!! +I'm not sure how to ask this but I thought the FAT crowd would have some experience so here we go. + +My fiance and I want to build a very nice house in a high-income neighbourhood. The house will be 2k\~3k sqft, but it's too big for me and my fiance to clean by ourselves. So I'm thinking of eventually getting a part time housekeeper. + +My concern is, it's kind of too obvious to an outsider that we're doing well. Especially if they see some items in the house (ie, a random nice watch). And I'm a little concerned about our safety if on the off-chance that the housekeeper we hire turns out to be a bad person. + +No, I don't think our house will turn into the set of Parasite but when you let people into your house, you're basically letting them know where everything is, etc. That seems a bit vulnerable to me. + +Any experiences, and how do you mitigate this issue? + I’ve been using PE for a while but just recently started using PEG ratios instead. I also always look for sales growth as well as ROA and ROC. But that’s pretty much it. I’m open to constructive criticism 😄 +Do you ever reflect on your previous positions and wonder why they did or didn't work out? They often say your best teacher is your last mistake. With that said, share your best and worst trades below, let's learn from each other. + +State the trade. +Your thesis. +And the catalyst that helped you realise the value or what you were missing from your thesis that cause the trade to go the other way. + +Let's hear em! +I don’t hold either positions below nor do I plan to. + +Take Tesla. Back 5-6 years ago, there were people flying planes in California with a sign trailing behind them “Buy TSLA Stock” to try to build a community behind the company. Gamestop is a more stupid example, but their community r/superstonk, regularly makes the front page of Reddit, even a year and a half after the first pump. + +Of course, fundamentals are the most important aspect of pricing a stock. + +Nonetheless, how do cult like communities in support of certain tickers factor in to your analysis of a stock? +I have been reading about the history of Berkshire Hathaway and there are things that are not clear to me. + +I know Buffett bought Berkshire stock when he closed his hedge fund, but how did he get hold of so many insurers and reinsurers if he started with a few million dollars and didn't use leverage? + +Why did Buffett decide to keep the company public? When you could have left it private like Koch Industries or Access Industries and you would have more freedom to operate and not be forced to disclose as much information. +Let’s assume that this won’t be a long bear market, and that up only will resume shortly after. What 3 stocks would you buy after the crash that are the best risk/reward for when the bear market ends? +Basically I have taken Ben Graham's defensive investor criteria: + +* P/E < 15 (of avg last 3 years earnings) +* Medium to large size (> 2bln market cap) +* \>2 current ratio +* Earnings positive in each of last 10 years +* Dividends uninterrupted for past 20 years +* At least one third increase of EPS in past ten years using 3yr avg (avg of 12-10 yrs ago vs avg of 2-0 yrs ago) +* P/B < 1.5 OR P/E \* P/B < 22.5 + +And have turned those rules (with a few exceptions) into a portfolio. + +The 12 holdings are as follows ([List as Finviz Screener](https://finviz.com/screener.ashx?v=121&t=AFL,AGO,MTB,STT,AFG,XRX,YY,TX,LEN-B,TDS,IBA,JHG&o=ticker)): + +* AFL +* AGO +* MTB +* STT +* AFG +* XRX +* YY (one exception: too new a company to have a long financial + dividend track record) +* TX +* LEN-B +* TDS +* IBA +* JHG + +I want the community's thoughts on this portfolio as it exists. I understand I may be misvaluing the insurance companies and the banks in this list and will need to do more research/understand valuations of those types of companies better. + +Thanks everyone. +Cricut, [which has filed for a $100 Million IPO](https://www.nasdaq.com/articles/getting-crafty%3A-crafting-machine-maker-cricut-files-for-a-%24100-million-ipo-2021-02-16), have decided to [add](https://www.reddit.com/r/cricut/comments/m3r73q/design_space_changes_now_more_useless_unless_i/) a [subscription](https://inspiration.cricut.com/new-features-and-updates-coming-to-design-space/) as a requirement to access features they had previously assured customers [they could do for free](https://www.reddit.com/r/cricut/comments/m40lhg/creative_freedom_should_be_free/).They are unsurprisingly alienating their supporters, who are expressing frustration all over r/cricut, in [two](https://www.change.org/p/cricut-cricut-design-space-update-petition?redirect=false) [different](https://www.change.org/p/cricut-cricut-to-retract-the-new-policy-of-paying-to-use-the-machine-you-have-purchased?redirect=false) [change.org](https://change.org) petitions, in the [reviews](https://www.michaels.com/cricut-maker-champagne/D233282S.html#) [on](https://www.amazon.com/gp/customer-reviews/R2R6IVNHMH1K69/ref=cm_cr_dp_d_rvw_ttl?ie=UTF8&ASIN=B01GSOMVRG) many [platforms](https://www.google.com/maps/place/Cricut/@40.5537271,-111.9124191,15z/data=!4m7!3m6!1s0x0:0x30ef2fe6bcb4bc69!8m2!3d40.5537271!4d-111.9124191!9m1!1b1), on [twitter](https://twitter.com/hashtag/boycottcricut), in Facebook groups and instagram (though Cricut is deleting complaint posts with impunity), by [sending emails to the company](https://www.reddit.com/r/cricut/comments/m3tbo9/my_theory_on_the_greedy_design_space_change/gqqrxjl?utm_source=share&utm_medium=web2x&context=3), and in conversations with others who are thinking about buying them.Be cautious about investing in this company when the IPO comes along. + +edit: Apparently their support chat is also [telling people they will brick resold devices](https://www.reddit.com/r/cricut/comments/m4auxq/cricut_help_desk_blatantly_stating_that_they_will/) if they try to cut their losses and leave the Cricut ecosystem by selling them to someone else + + +edit2: 3/16 Update: Cricut has announced that in response to the backlash they will be [grandfathering in existing users](https://inspiration.cricut.com/a-letter-to-the-cricut-community-from-ashish-arora-cricut-ceo/) on their existing machines when the change goes into effect at the end of 2021 + The stock-to-flow (S2F) model, which many have relied on over the years to predict the price of Bitcoin, is now pointing at the possibility of the second phase of the Bitcoin bull rally. + +By the end of 2021, according to the S2F model - Bitcoin is poised to surge to well over $100,000 -- a big boost from the current accumulation phase! + +NASA is also completing an accumulation phase and poised to go the distance as we prepare for a BOOST from our Live Whitepaper reveal, successful Dessert Finance 1st Audit and INCOMING CMC listing! + +Don’t take my word for it, give NASA Token’s Live Whitepaper a review and see for yourself: notion.so/NASA-Token-s-Live-Whitepaper-e36eaf6a194244479767bd188aa1271b.If you follow the link above you will find a REAL Whitepaper — a living comprehensive document that is transparent and honest as it investigates, details and evolves with the NASA organisation. + +Recently, the team at NASA also shared our 2 utility cases that are going to solidify our reputation as the Dependable Altcoin of the Future: + +NASA Auditing Service - The goal of the NASA Auditing Service is to expose scam projects, improve safety to investors and instill confidence in BSC projects. We have experienced auditors who will complete a Smart Contract Security Audit on other BSC projects with delivery in PDF format that includes errors/bugs we find and recommendations for improvement. The BIG win for NASA investors is that our profits from the NASA Seal of Approval will be invested back into NASA so holders are rewarded for loyalty and watch their investment continue to grow. We are excited to share that our first Smart Contract Security Audit is almost complete! + +NASA Rug Pull Relief Fund - There’s nothing worse than getting excited about a project or new token launch only to have your hard earned investment pulled unexpectedly by bad actors and left with nothing. At NASA, a portion of reflections from our marketing wallet will be used to give back to active NASA investors who have been rug pulled on other investments via an application process. + +Other progressive developments underway at NASA Mission Control include: an update on our first Smart Contract Security Audit client, our live whitepaper is almost complete, CMC listing incoming and 5 exchanges have been applied for! It’s a good thing the NASA team runs on HYPE cause we have no shortage of it! + +Please join us on Telegram on June 21 @ 12pm UTC for a live AMA voice chat update on our 1st Audit completion from Dessert Finance (who has previously completed Audit for Bonfire among others) as well as NEW campaign developments! + +Here at NASA we're focused on one thing and that’s to step foot on the moon AGAIN. The question is, will YOU join us or will you be on the outside looking UP 💫🚀 + +Become a Nastronaut today!👩‍🚀🚀👨‍🚀 + +🌐Website : nasatoken.net + +🥞Pancake Swap : exchange.pancakeswap.finance/#/swap?inputCurrency=0x70cf8d40a3d0f7bc88077ba7d103050d0001a653 + +📄Contract : 0x70CF8d40A3D0F7BC88077Ba7D103050d0001A653 + +🏛BSCscan : bscscan.com/address/0x70CF8d40A3D0F7BC88077Ba7D103050d0001A653 + +🗯Telegram : t.me/officialnasatoken + +💬Discord : discord.gg/4qhbm6MzpN + +📣Twitter : mobile.twitter.com/NASAtoken + +📷Instagram : instagram.com/nasatoken?utm\_medium=copy\_link +I use lots of online services for which I pay monthly using my credit card. These services include Google workspace, DigitalOcean, some other web hosting companies, backblaze, youtube etc. These payments used to get deducted automatically, but now this has changed. What do I need to do to make sure my payment to these services are not impacted? +# Looking for the DRS Mega Post? Find it here + +[When You Wish Upon A Star - A Complete Guide to Computershare](https://www.reddit.com/r/Superstonk/comments/ptvaka/when_you_wish_upon_a_star_a_complete_guide_to/) + +\------------------------------------------------------------------------------------------------------------------------------------ + +# Useful Links Provided By Computershare + +FAQ on [Becoming a registered shareholder in US-listed companies through Computershare](https://www.computershare.com/us/becoming-a-registered-shareholder-in-us-listed-companies) + +For shareholders who need assistance with their account (e.g. logging in, password reset, etc.), please review [FAQ](https://www-us.computershare.com/Investor/#Help/FAQ), [email](https://www-us.computershare.com/Investor/#Contact/Enquiry) or [virtual assistant](https://www-us.computershare.com/Investor/#Help) + +\------------------------------------------------------------------------------------------------------------------------------------ + +# It’s Finally Here! + +Before we get to the good stuff, Computershare has agreed to a second AMA. We were unable to get to all the questions in the time provided and there will likely be follow up questions from you all which they are more than happy to answer! + +You can find the full video here, on our new (non-monetised) [Youtube Channel](https://www.youtube.com/channel/UCJ-mn_GXx-MZeL8KiNx-_IA). + +**Youtube Link:** [**https://www.youtube.com/watch?v=LVEJo87jejo**](https://www.youtube.com/watch?v=LVEJo87jejo) + +Please note, the transcript may not be 100% accurate as it was typed out by hand. Please refer to the video for full accuracy. + +**Timestamp Directory** + +It was great working with the CS team to bring this to you all and was a pleasure hosting Paul. I thank them for spending time addressing all the questions our community has, as it’s greatly appreciated. + +I also recommend checking out the DRS AMA u/dlauer is holding over on their sub as well. They have an anonymous guest who knows DRS in and out, so it’ll likely yield some interesting insight! + +**Transcript** + +**Timestamp: 00:00** + +**Jsmar18:** Thanks for joining us paul, this is paul conn and this is the president of global capital markets, thanks for joining us + +**Paul:** I head the global capital markets group at computershare, quiet a large reaching role looking at providing solutions to clients and their investors, looking at major market market structure challenges and changes and looking at new commercial opportunities - a rather small group of people positioned throughout the world + +**Timestamp:** **00:44** [**https://youtu.be/LVEJo87jejo?t=43**](https://youtu.be/LVEJo87jejo?t=43) + +**Jsmar18**:Let’s get kicked off with the questions, the first one which i can’t avoid asking is what is the maximum price that you can sell a share for through computershare? + +**Paul**: That’s a good question, we’ve seen a lot of traffic come through on twitter and reddit asking that. + +There are really two parts to that the first part is, what’s the trade consideration, what’s the maximum value of an order you can put on a member (exchange). The second part relates to the max limit price of a transaction you can put on our platform. + +For the first one, on our FAQ as well - once you move over the $1m trade consideration, we’d like to receive the order in writing. In actual fact people can go on our web based platform and put an order on for $1m, nothing stopping them putting another order on - you can put many orders on and they are not really capped that way. So hopefully that puts a lot of your audience at ease. + +As it relates to the second point, the maximum limit order on a tractions is just under a quarter a million of the dollars - don’t ask me how we get to that as i don’t know the details, our technical team looks after it and it’s something we’ve seen a lot of discussion around and we’ll monitor it as something that needs to be increased. + +**Timestamp:** **2:41** [**https://youtu.be/LVEJo87jejo?t=161**](https://youtu.be/LVEJo87jejo?t=161) + +**Jsmar18**: Okay, so if you say if you need to increase it, you’re saying you can increase it if it does eventuate in that scenario? + +**Paul**: Yeah, we’re looking at how long it’ll take to do the increase, something we’re conscious of and something we’re taking a look at as people are making a lot of noise about that. + +People can, of course always be directly registered on our books themselves through their self ready broker. + +**Timestamp: 3:24** [**https://youtu.be/LVEJo87jejo?t=205**](https://youtu.be/LVEJo87jejo?t=205) + +**Jsmar18**: Great, thanks - moving onto the second most popular question would be IRAs.The main thing is, can people actually direct register their IRA shares? + +**Paul**: There's a few different parts - none of these questions are simple one word yes nos. + +There should not be any specific reason why someone can not move their shares from an IRA and directly register them - at least from a market transfer directly registering perspective. + +There max be tax consequences of doing that, and an investor should talk to their own financial advisor to find out what the implications are. Computershare are not advisors. Some of our clients will allow an IRA registration on their own books, which we administer for them. So it really needs to be looked at on a case by case basis. + +**Timestamp:** **4:35** [**https://youtu.be/LVEJo87jejo?t=274**](https://youtu.be/LVEJo87jejo?t=274) + +**Jsmar18**: Okay, so very much case by case - that’s fair enough. Are Computershare looking to offer any custodians services for IRA at the moment? + +**Paul**: Not at the moment, we’re always looking at new commercial opportunities as it’s hardwired into our DNA and it’s clear whether Computershare need to be a IRA provider in order to solve this particular issue. So not at this moment in time. + +**Timestamp: 5:02** [**https://youtu.be/LVEJo87jejo?t=302**](https://youtu.be/LVEJo87jejo?t=302) + +**Jsmar18**: Fair enough, that makes sense - moving over to transferring from brokers and buying shares. The past month or so people have been looking into the DTC and how the DRS actually works. Could you help us understand the process is from the start when someone requests direct registration through the shares landing in their Computershare account? + +**Paul**: Sure, let me do that by first answering the piece which is directly under our control which is when the DTC initiates an electronic transfer under one of their broker-dealer participants and registers shares on the Computershare platform under the investors name. When that occurs it happens on a daily basis, we will record the investors name on the register and issue a statement to recognise that registration. Indeed the process between the DTC and Computershare is very fast - as for when the investor first communicates with the broker and the broker puts the transaction in the DTC system, we really have no visibility of of that whatsoever and is something we have no control over. It may take a few days for a broker to give effect to that transaction, we’ve seen some chatter that there has been some extended periods, but that’s really a broker client matter that we cannot matter. + +**Timestamp: 6:40** [**https://youtu.be/LVEJo87jejo?t=399**](https://youtu.be/LVEJo87jejo?t=399) + +**Jsmar18**: and to clarify, do you know if the shares are removed from the DTCs books? + +**Paul**: So when one of these DRS transfers occur, when it comes out of the DTCs system and into an individuals’ name we employ a double entry accounting process - where we put Jack��s name on the register and take one share away from cede and co - which is the DTCs nominee, so we are taking the share out of the DTCs name as it were on the register. In that respect, the register is always kept in balance for the register's share capital. + +**Timestamp: 7:21** [**https://youtu.be/LVEJo87jejo?t=441**](https://youtu.be/LVEJo87jejo?t=441) + +**Jsmar18**: The community is big on hypotheticals, and there is a lot of interest on direct registering shares on stocks that have been naked shorted, creating what is known as synthetic shares. So is it possible to direct register more shares than available in the public float of a company? + +**Paul**: Okay, there is a lot in there and let me park the comment on synthetic shares - not trying to dodge that but i’ll come back to it. As it comes to relate that if we can register more shares, the answer is really no, in order to put your name on the register, we need to take a real share off cede on co on the register. This is what needs to be done to keep it in balance. + +When it comes to synthetics, and concerns people have around short selling - that’s really a step removed from CS and the role of a transfer agent. That’s really what is happening behind the scenes at the DTCs and how they hold the shares in participant accounts, being banks or brokers. In turn now holding accounts for individual investors - this is not visible to the registered transfer agent. + +**Timestamp: 8:49** [**https://youtu.be/LVEJo87jejo?t=529**](https://youtu.be/LVEJo87jejo?t=529) + +**Jsmar18**: So it’s not really related to CS in that essence? + +**Paul**: I think it’s all related because these are investors in companies we are the agent for so we have an indirect interest in it. We’re definitely not the cause of it. + +**Timestamp: 9:07** [**https://youtu.be/LVEJo87jejo?t=547**](https://youtu.be/LVEJo87jejo?t=547) + +**Jsmar18**: Is it your responsibility to look after it as the transfer agent? + +**Paul**: It’s not really our responsibility to look after it because we often don’t know it’s happening which is one of the many challenges that people have. We’re talking about a distributed set of records that no one in the marketplace really has the entire access to. So it’s not something we’re repsionsuble for, we’re responsible for what shares are on the register. + +What the DTC needs is to make ensure each of its records balance with its participants records and each of the banks and brokers need to ensure their records account for their customer assets as they have net positions for shorts and long - but that’s really the beyond the scope of what CS look after. + +**Timestamp: 10:09** [**https://youtu.be/LVEJo87jejo?t=609**](https://youtu.be/LVEJo87jejo?t=609) + +**Jsmar18**: So if direct registering does stop, due to all shares being directly registered - what actually happens to people who want to still register their shares? + +**Paul:** That is a really good question, I think it is, at this point in time, a hypothetical, but it’s a very important hypothetical. So it’s right for people to ask. It’s really, I think, unprecedented in a public company since where the company is transacting on the marketplace so I’m sure that that trigger point or even surely before that trigger point there will be discussions amongst the company, the exchange, the DTC to talk through what the ramifications of that outcome really ought to be. + +**Jsmar18**: ok. That's very interesting. So the conversation would very much be, basically be discussed between parties who have an interest in this. + +**Paul**: Well I think the regulatory organizations would have a look at that because, if I'm understanding your hypothetical correctly, you’re saying if every share is registered on the books of the company, which it is today, because one of the large shareholders is Cede, but if Cede goes to zero, and there are third parties that hold every issued share, i think your question is what is the status then for everyone who has a share in their brokerage or bank account and what happens to trading and that will be an interesting set of discussions if and when we get there. + +**Timestamp: 12:00** [**https://youtu.be/LVEJo87jejo?t=720**](https://youtu.be/LVEJo87jejo?t=720) + +**Jsmar18**: ok, so this comes back to, you know, as retail investors (?) how are we ever going to know how much stock we’ve collectively registered? Is there any way we can actually inquire for this information? Is it your responsibility or again the company’s responsibility? + +**Paul**: So we have 2 ways of reporting ownership, the first is to the public company itself, our client. The client has online access to the entire issued capital that we are recording and we have affected administration on their behalf as agent and each investor has access to their own portion of the register, their own account or holding on the register. You know, it's a little bit like a bank account. You go online to check your cash in your bank, you can see your cash, but you can’t see any other kind of subset of like-minded people and that I think is what a lot of people are trying to grapple with just how to do that when the information’s not in the public domain. + +**Jsmar18**: yeah that's right, I think it's natural that humans want to kind of get certainty on these things by understanding the data. But, from your side it sounds like it’s not really computershare’s side or responsibility to do that, and it's more so the company’s. + +**Paul**: I mean look, just balancing those 2 points, we act as a company’s agents, so we can’t just automatically decide to just publish statements of the data, even if there is interest in it. I think the company might need to consider from time to time if it should do that or maybe if a regulator may suggest to a company it might be a good order thing to do, to keep people fully informed but we’re not there yet. + +**Timestamp: 13:50** [**https://youtu.be/LVEJo87jejo?t=830**](https://youtu.be/LVEJo87jejo?t=830) + +**Jsmar18**: Thanks. Moving on to brokers, in terms of the actual DR brokerage process, many people have observed that there’s broker pushback when it comes to transferring shares, a prime example would be Etoro as of recent, who have straight up refused to direct register shares for customers who had purchased them. So in these instances where there is broker pushback , is there any route retail customers can take where we can escalate it or actually force brokers to direct register the share? + +**Paul**: Ok, well you kind of laid it in on a real specific there and I think there’s a more general.. Maybe if I just step back and just talk about.. An investor that's got an account with a broker, let’s say a U.S. broker that happens to be a DTC participant, should be able to get a transfer into DRS forms so the investor can hold their shares in their own right. That shouldn't be an onerous process. The broker may have many requests coming in simultaneously, so things might take a bit longer than they might otherwise but there shouldn't be extended delays. + +When you start to talk about online brokers, an online broker let's say in Europe or down in Australia, it mainly gets down to how that broker is holding shares in custody because the underlying shares generally would be in the DTC. So an International broker usually would have a custodian arrangement with a DTC participant or there might be 2 or 3 parties in the chain so ultimately the length of time it takes will get down to how simple or complex that holding structure is, how many people are in the chain. There may be some international brokers that just don't have the functionality to do this type of transaction because they never envisioned that it would ever be needed. Obviously the issue that I think people are grappling with ‘Does the broker always have the shares I want to transfer’ that’s really an issue the client and the broker need to work through. + +**Timestamp: 16:06** [**https://youtu.be/LVEJo87jejo?t=966**](https://youtu.be/LVEJo87jejo?t=966) + +**Jsmar18**: In Terms of, would you actually suggest you know, basically, continuing pushing on, if this is retail, to encourage brokers like this to actually invest in the processes? Because to me, it seems like direct registering your shares, it shouldn't be the brokers saying no and blocking this off, they should be able to provide this option. + +**Paul**: Yeah look, that is a good question, and I think the situations that we’re seeing in the marketplace now, kind of throwing up some unusual situations, right, in every stock every day of the week, so it's not unreasonable for a client to be asking their broker why they can't do it and if it’s a lack of functionality, why the broker doesn’t have the functionality. I mean we’ve seen situations, and I'm now just reading things that have been reported in your forms- some investors, some customers, have actually changed their broker in order to get a broker-to-broker transfer of the shares, then to us, the third party broker to DRS the shares into Computershare. One of the things I’m really amazed about is the way in which information is being, there’s clearly a thirst for information in the community and how people are collaborating by sharing information, and really becoming quite inventive in terms of how they put these transactions together to ultimately get on to the register. But there’s no single silver bullet here, you need to really talk to your broker and try to understand why there’s some reluctance to transfer, and ultimately an extreme situation would be to talk to the regulators to see why that’s the case because we’re talking about, in all cases here, financial organizations that are regulated in each of these markets. + +**Timestamp: 18:09** [**https://youtu.be/LVEJo87jejo?t=1089**](https://youtu.be/LVEJo87jejo?t=1089) + +**Jsmar18**: Ok, so moving on, people were kind of confused about seeing fractional shares on your platform, and that you actually display them, and it rightfully raised some eyebrows as a few people assumed that only one person can claim ownership to a single share certificate, and fractional shares is something that’s kind of a broker thing in terms of how they purchase it, etc. so how do fractional shares actually work when it comes to ComputerShare and ownership? Do I share ownership with someone else if I have a fractional share? + +**Paul**: Ok, well let me try and answer that. There’s a few different parts to this, so if we’re talking about the direct registration system and how shares are recorded in individual investor’s names on the register, only whole shares are transferred, either from the DTC into the investor’s name, or from the investor’s name back into the DTC, so we’re always talking about whole shares there. Fractional shares can come about through the Direct Stock Purchase Plan that we operate, where we buy shares and record them in the investor’s names. In that situation we have the ability to offer fractional entitlement to shares and those shares can at any point in time be moved from the purchase plan into the direct registration system, so they can be separated out as well. + +**Timestamp: 19:37** [**https://youtu.be/LVEJo87jejo?t=1177**](https://youtu.be/LVEJo87jejo?t=1177) + +**Jsmar18**: That makes sense, essentially when it comes to share ownership, with the register itself, you don’t actually own that fractional share. + +**Paul**: So when you look into our system, you come into the investor centre, you’ll see your total number of shares, it may be made up of a book position and a DRS position, the DRS position you own absolutely unfettered in your own name, the shares that are in the plan represent a pool that we operate on behalf of the investors, those shares can be withdrawn and put into the other part of the account at any particular moment in time. So you can buy shares through the plan, you can immediately transfer them from the plan into the DRS portion of the holding. + +**Timestamp: 20:22** [**https://youtu.be/LVEJo87jejo?t=1222**](https://youtu.be/LVEJo87jejo?t=1222) + +**Jsmar18**: Ok that makes sense, thanks. So when it comes to buying shares through computershare, it’s been theorized that the broker places large orders on the exchange that essentially represent an cumulative amount of buy orders from yourself and computershare. Do your brokers lodge these orders on the exchange when they come through, or do they wait and accumulate them, and then wait to execute them as a batch order? + +**Paul**: So when we’re talking about purchasing, we purchase within a batch, so we will accumulate orders through a 24 hour period, and we will lodge that aggregate order with the broker that acts on on our behalf, just around or just after when the market opens. So we leave it with that broker to determine how to work that order through the marketplace, so that will be driven by how big is the order, how liquid is the stock? We’re always looking for our broker to execute these trades on lit exchanges on the markets. + +**Timestamp: 21:23** [**https://youtu.be/LVEJo87jejo?t=1283**](https://youtu.be/LVEJo87jejo?t=1283) + +**Jsmar18**: When you say lit exchanges, are you referring to specific exchanges? Do they have to execute on NYSE or Nasdaq etc? + +**Paul**: They have to abide by the national best bid and offer so that’s a rule that binds, so they’ve always got to look at best execution, but we’re looking for them to execute these transactions on the NYSE or the Nasdaq , not in dark pools. I think just to be clear, if that’s where you were heading. + +**Timestamp: 21:54** [**https://youtu.be/LVEJo87jejo?t=1314**](https://youtu.be/LVEJo87jejo?t=1314) + +**Jsmar18**: Yeah, you’re right. So they have to adhere to the NBBO, that makes sense. If a company is listed on NYSE they don’t have to purchase through NYSE themselves? + +**Paul**: The company might be listed on NYSE but it will trade on a number of different venues.. + +**Jsmar18**: Retail is used to relatively quick order executions, so I think that was kind of a surprise when there was, you know, batched together.. + +**Paul**: Maybe I can jump in without being rude, that is how the purchasing works. If you want to sell securities you’ve got the option of doing a real-time transaction with us through the web or selling into a batch and going through a batch process. Or you can sell through your own broker. There are lots of opportunities for you and choice available to you when you are selling. + +The point that I made earlier, that is how we accumulate the shares when we are buying shares through the plan. But some parties might say well, I am going to execute my order in real time to purchase the shares through a broker, and then have the broker DRS the shares into Computershare. So there’s are lots of, plenty of choice available to people. + +**Jsmar18**: Yeah, we have definitely seen people do that in terms of buying through brokers and direct registering. + +**Paul**: When you are selling it you can sell real time through us. When you are doing a real time trade through us, the turnaround time can be very very quick, you know, assuming there is a counterparty in the market to buy the shares that the broker is selling on behalf of you all. + +**Jsmar18**: Ok. So, we execute on Computershare, which then sends it to their broker which will then execute it on the market accordingly. + +**Paul**: We use highly integrated systems to so that we are not sending carrier pigeons with pieces of paper saying ‘please run to the floor of the stock exchange and execute selling our shares’. It is modern and pretty fast. + +**Jsmar18**: I think you will catch some flack for that analogy of carrier pigeons with the way these mail out at the moment. + +**Paul**: Oh well you can come back to that okay. I am sorry I walked into that one. + +(laughing) + +**Timestamp: 24:14** [**https://youtu.be/LVEJo87jejo?t=1454**](https://youtu.be/LVEJo87jejo?t=1454) + +**Jsmar18**: So to touch back on the point again regarding selling. So, is there a major difference between selling though Computershare, who execute through their broker vs. transferring out of Computershare to your broker and selling though there. Surely there would be a delay if you get into that second option, right? + +**Paul**: Let me just address that and maybe dig in a little bit more to selling through Computershare. So, you know I have explained that through Computershare you have the ability to elect to do a real time transaction through our electronic system which is connected to our brokers electronic systems, so that can go straight through into the marketplace. If that order trades, the confirmation will come straight through. + +So actually, selling through Computershare can be very very fast and effective if there is a market in the securities and that round trip can be fast. If you are selling through a batch, the process of executing out of that batch obviously then is slowed down because we do that once a day. Small positions can typically go into a batch. When I referred to the fact that people can transfer their shares through DRS back to their broker, or more accurately, their broker can request the transfer of shares through DRS back from let’s say Jack’s name into his broker’s name. Umm, that potentially might give you some delay in executing your order through your online broker. + +Some brokers may be prepared too depending on the individual and their arrangement with their own broker, if you have got these particular shares and they know you’ve got them, they may let you execute straight away. Now, when they have got highly mechanistic platforms where everything is driven by the Internet, they will probably want those shares to land in your account before you can put them on a particular platform. It will differ by broker by broker and client by client depending on the commercial arrangement between the two. + +**Timestamp: 26:30** [**https://youtu.be/LVEJo87jejo?t=1590**](https://youtu.be/LVEJo87jejo?t=1590) + +**Jsmar18**: Okay, that makes sense. So, on the buying side of things, you touched on this briefly before when it comes to the Direct Stock Program, I think. So when buying shares through the Direct Stock Program, are those shares potentially being purchased from the company’s authorized shares that are currently aren’t outstanding? + +**Paul**: No, those shares are purchased on market. Through the market and then we bring them into the plan, and once they are in the plan, you as an investor can say I want to take them out of the plan in pure DRS form or you are happy to leave them in the plan, that choice is yours and that is the difference between the fractional component and the whole shares component. + +The whole shares relates to shares held through DRS and fractions relates to any component you may have in the plan + +**Timestamp: 27:24** [**https://youtu.be/LVEJo87jejo?t=1644**](https://youtu.be/LVEJo87jejo?t=1644) + +**Jsmar18**: Awesome, thanks for that clarification. So moving onto dividends, which is probably the most wildly discussed topic when it comes to our community. When Computershare came to light everyone started to ask themselves how an NFT or special dividend would be handled. I am aware you have coordinated this before with other clients, so how do you make sure that you have the capability to support blockchain based dividends. I am curious what the process was historically for actually handling that? + +**Paul**: Okay, historically, many of our clients pay dividends, they pay cash dividends, they offer stock alternatives, that has been quite routine and those arrangements are in place in many of the markets we operate in around the world. In the last few years we have started to see some clients ask if we could provide dividends through less traditional means. + +Initially here I am talking about one particular party that came to us and said ‘could we pay the dividend through fractional gold entitlements, where gold is secured in a particular vault?’ We sat with that client and worked through the mechanics of that to see whether if that was cost effective for them to do that at scale. That’s an example of potential demand. + +More recently we have had people ask if we can pay dividends in crypto. We have a couple of private companies (like unlisted clients) who have asked us to pay dividends in USD and offer their shareholders the ability to take a transfer of (in this particular case it was bitcoin), so we were crediting bitcoin to wallets. + +One of our clients (and this is in the public domain so I think I can mention it), Overstock was involved in distributing a dividend through its blockchain and we have for a number of years now, have had the ability to connect a blockchain to our registry platform so that we can credit the security, if it is in fact a security, to the ledger. + +**Jsmar18**: Okay, so when it comes to that, in terms of actually receiving it you essentially credit and recognize it on the user’s account. + +**Paul**: yes. Yup, yup. Look a lot of this gets down to what scale does it need to operate at and what is the nature of the dividend? Is it a security itself? Or is it not a security and it is some sort of perk? + +Depending on whether it is a perk or a security might influence how it has to be physically distributed to the owners of the company. That’s where we just need to sit with the client and understand exactly how they want the dividend to be structured and then we will run through with them the logistics of how we get it from them to their particular shareholders. That is what we specialize in. If it happens to be a blockchain based entitlement we will work with them to work out how we can get all the wallet addresses to effect the credits if it’s crypto of some other type of digital asset into the right parties hands. + +**Paul**: I think being on the register is clearly an advantage there because there are no intermediaries really sitting between the issuing company and the investor. Computershare’s role is really that of an agent acting for the issuer. Where there’s an entitlement that has some real monetary value of course people that are holding their shares through banks and brokers will want to take receipt of that entitlement, and that’s where some of the complexities come in. It’s kind of hypothetical without a specific example to sort of look at but I’d be happy to kind of dig into this some other time, you know once... + +**Jsmar18**: Yeah that sounds like a good session. Big hypothetical session… <inaudible> + +**Paul**: I mean we love stuff like this, this is why we get out of bed in the morning, it’s like when there are unique kinds of situations, where clients want to do things. + +**Timestamp: 31:50** [**https://youtu.be/LVEJo87jejo?t=1910**](https://youtu.be/LVEJo87jejo?t=1910) + +**Jsmar18**: Fantastic, so we’ll move on from dividends because it sounds like you will consult with the company to essentially execute whatever they’re trying to do, and I think that’s enough reassurance to people in terms of that is the service you provide, which makes sense. Moving on to the international side… and I know we’ve only got... how long left now, maybe ten minutes. + +**Paul**: Ten minutes, we’re good. + +**Timestamp: 32:00** [**https://youtu.be/LVEJo87jejo?t=1920**](https://youtu.be/LVEJo87jejo?t=1920) + +**Jsmar18**: So moving on to the international side, we’ve got people who are part of our community from all over the world and they’re curious. You offer certain services, based in the US, but are you also planning to offer them internationally as well, such as the purchasing of stocks directly? + +**Paul**: Hey great question I mean we probably never had this much attention as we getting just at the moment from people all around the world that want to focus on a particular narrow range of securities so it's interesting for us to try and understand what the demand is and we are not a broker we're a transfer agent, so there are some restrictions in terms of what services we can offer in which jurisdiction so that's an issue that we're taking a look at this moment in time but we’re always looking for opportunities to broaden our ability to service a corporation’s international shareholder base. When you have a dual listed company for example where we’re actually running registers in multiple countries in each country has connected to the stock market infrastructure in each country in many of the situations in the US, the US is the only place of formal listing and therefore investors around the world who are working with local Brokers around the world those brokers, in turn, are working with people based it in the USA so you have a different holding structure and our ability to service those international investors is not quite as flexible as when you have the securities listed in multiple markets. + +**Timestamp: 33:55** [**https://youtu.be/LVEJo87jejo?t=2035**](https://youtu.be/LVEJo87jejo?t=2035) + +**Jsmar18**: Touching on the account creation process, specifically, because I think that that's kind of been a pretty big problem in terms of the funnel. So, are you looking at making that faster for international customers, because right now, you’ve got to wait and you’re expecting <for the> mail to come through to get that login to your CS account. Are you looking to make that process faster using email instead? + +**Paul**: Thank you for the question. We're always looking at that and international clients are not being particularly prejudiced against here. This is a process from a risk management perspective where we have opened the account on the platform and then mailed the pin to the investor. Now many people are reminding us that there are other ways of doing multi-factor authentication. We’re often looking at that we'd like to make the process faster we have recently in the Australian market, introduced two-factor authentication for certain processes and we’re keen to see that be ported into different markets around the world including the US so it’s really balancing off efficiency against risk management. But we’ve heard everyone loud and clear, we’re not happy if it takes someone three or four weeks to get a pin through international mail so I have a couple of people looking at that right now. + +**Jsmar18**: Awesome, fantastic, I think they will be very happy to hear that. + +**Paul**: Well they’ll be happy once we switch to something else that gives them instant access but we hear you loud and clear. + +**Timestamp: 35:38** [**https://youtu.be/LVEJo87jejo?t=2138**](https://youtu.be/LVEJo87jejo?t=2138) + +**Jsmar18**: Awesome, so people are also interested in the type of capabilities that your customers, and by customers I mean the types of companies that work with you and choose you to be their transfer agent. Do companies opt-in for the feature you provide that allows for the live counts of registered shares? + +**Paul**: Sorry Jack, can you mention just the last part again I just missed the last two or three words please. + +**Jsmar18**: No worries, so do companies commonly opt in for the feature that your provide to them which is that it allows for a live look at registered shares? + +**Paul**: Right, ok, I understand, so all of our registry or transfer agency clients have the online access into our platform and most companies will take that it’s part of a standard package that is offered, so that is immediate in terms of online access to the records that are on the register at that point in time so when you use the term live it to me implies can they actually get a dynamic count of shares that are transferring now where the records being transferred our books they would see that in real time as they appear into our platform but they don't have the ability nor do we provide the service to see the real-time transfer of security in beneficial ownership form within the DTC there are some parties that provide or trying to provide that type - no one really has access - only the DTC knows what she is being transferred between particular participants and only brokers or banks know which of their customer accounts are being impacted by that so no one has the ability to kind of dip in real time and tell you what’s actually being transferred. + +**Jsmar18**: Well, we’ll wrap it up today and I just wanted to say thanks for joining us and hopefully, we can get a part two along the way depending on if we have any follow-up questions. + +**Paul**: Yeah, we’d be happy to do a part two, we know you’re trying to cover a lot of ground and when I was working with Yin and Joe it was clear that we might struggle to get it all done in 45 minutes. We’re very happy to do a part two with you I'll let Yin talk to you about the logistics of when that needs to get shot and how you stitch both pieces together if that's how you intend to do it but I'm sure whenever you release this it would generate a whole bunch of other questions and we’ll pick that up thereafter. Happy to do it. + +**Jsmar18**: I’m sure it will. Ok, great well thanks for your time again Paul, we can wrap it up there. Great Chat + +**Paul**: Ok, cheers guys I hope you enjoyed it so thanks for having us. +Early 40s woman, one child, nw of $8 million (self made, from lower middle class background). How do you find like-minded people with similar assets and goals without attracting gold diggers? I don't live super conspicuously with wealth so someone meeting me would assume I do well but not as well as my bank accounts reflect. Was married 15 years. +This is the official $GME Megathread for r/Superstonk. 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I was buried under student loans and juggling them one at a time while dealing with unemployment during the recession. I got a lucky break that started me in an IT career. Then I got a job with a company that give me enough tuition reimbursement to get my degree one class at a time over 4 years. Today I just signed the paperwork for a job of my dreams. I never thought I would get here but to anyone out there struggling but working and improving themselves every day it will pay off eventually. +2 or 3 weeks ago someone posted either here or r/investing after looking through 7000 companies and found GNUS, a penny stock of a company that makes children's cartoons. I would just like to thank him for getting me in at $0.35 and follow his every move. + +Edit: this stock is fucked +So my course fee is going to be like 12,00,000 for 4 years and 3 lakhs/year. + +My family income can pay the yearly fees but then very less of the income will be left, so we need some financing but not the whole amout to be financed. + +What I feel is, we can pay half of the fees on our own i.e. 6 lakhs (1.5 lakhs/yr) and we'll need the rest as a loan i.e. 6 lakhs ofc. I was thinking if we could get a loan of 6 lakhs only which disburses 1.5 lakhs/year(+1.5 lakhs/yr from our side, the fees can be paid). + +As the loan will have a moratorium of the course period atleast, we will only have to pay half the fees for 4 years and then repay the loan. This would be very helpful for us. + +Problems with full education loan: + +• Will need collateral for 7.5L+ loans. No collateral needed for 6 lakhs so good. + +• Interest on 12 L would be more than 6 L. So I feel we shouldn't really take extra loan of an amount that we can afford to pay ourselves. + +Is this possible? Thanks. +Hey all, long-time lurker here, first time poster. I want to share a budget template with the community that I've been iterating on for the past two years. Budgeting has completely changed how I perceive my income, expenses, and savings, and I can't imagine where I'd be today without it. I hope this template can help others out there who are looking to get a better understanding of their finances or don't know quite where to start. + +--- + +### Background +Before jumping into the template, I just want to give a little background on myself. For years I always thought myself as decent with my money. I never found myself too deep into debt, saved a little here and there, and always managed to get by without too much worrying. Well, that was all fine until I ran into an unexpected financial hardship. Suddenly, budgeting became not just a smart thing to do but imperative. + +Looking back, I wish I'd started budgeting sooner. I really didn't realize how little I knew about where my money was going until I started visualizing it. And that's exactly how this budget came to be. + +### Purpose +This template was made with the following goals: +1) Clearly visualize the breakdown of income, expenses, and savings +2) Automatically update when revising expenses, income, or savings amounts +3) Not rely on third-party financial tools which collect sensitive personal data + +### Who this is for +This template is best used for someone who isn't actively paying down debt. Of course, if you're in debt, you want to pay that down ASAP before putting money elsewhere. This template is about finding a balance in your take-home pay, and how to split it between an emergency fund, short-term savings, long-term savings, daily spending, and of course expenses. + +--- + +### Account Definitions +This is discussed on this subreddit at length, but here's how I've defined these terms for myself: +`Daily Spending` -- a checking account for any daily spending. This is what you use to buy a breakfast burrito or grab a drink with a friend. +`Expenses` -- a dedicated checking account for expenses. Phone bill, internet, rent, etc. all automatically deducts from here. +`Emergency Fund` -- a savings account which holds cash for between 3-6 months of expenses, just in case. Once this gets to a level you're comfortable with, you can stop or reduce the amount you regularly deposit. +`Short Term Savings` - a savings account for short-term savings. This can be defined however you want, but I think of it as money I'll spend in less than five years. This could be for a vacation or a big expense like a new computer. +`Long-Term Savings` - an investment account for money you won't want to withdraw for probably over 5-10 years. This is for something big, like a down payment on a house or just a place to invest in the long-run. You don't think about this money, and it's at the mercy of the market. + +--- + +### The Template +#### [Here's the template.](https://docs.google.com/spreadsheets/d/1MJjycDeT1zbfLKZlXODyy4Cifh1f6VnsFnK0sRkgZis/copy) +It's pre-filled with what an example budget might look like. + +--- + +### How to use +`Blue` cells are for inputting values. +`Gray` cells show calculated values. + +--- + +`Income` -- enter your income information here. If you're a freelancer or don't get regular paychecks, look at previous years tax returns and guess-timate your annual income based on that. +`Expenses` -- there are two tables here: one for regular expenses, and one for irregular expenses. A regular expense is, obviously, something you pay regularly - like a phone bill or rent. An irregular expense is something like car maintenance or a yearly gym subscription. +`Bank Accounts` -- this is where the magic happens. Start entering values for your emergency fund, short-term savings, and long-term savings. This will give you an idea of how much money you can really afford to put away in different savings accounts. Expenses are automatically pulled in, and Daily Spending is calculated based on what you decide to save. +`Long-Term Savings` -- totally optional, but I like seeing a breakdown of the funds I invest in, to visualize how aggressively I'm investing. + +--- + +### Credit +Thank you so much to [u/TheJMoore](https://www.reddit.com/u/TheJMoore) for [their original post](https://www.reddit.com/r/personalfinance/comments/40q7jb/budgeting_101_the_simplest_way_to_start_budgeting/) which served as the foundation for this template. They did all the actual hard work - like entering income and determining tax - I just updated, re-organized, and added some nice visualizations. + +~~This template is based on an existing template I found online, and I would love to credit the original creator. The problem is, I can't remember where I found it or who originally made it. If someone knows who to credit the original template to, please let me know and I will credit them here. Also, thank you, stranger, for putting that O.G. template online and helping my life! I'm hoping to pay it forward here.~~ + +--- + +edit: fixin' couple typos +edit 2: added credit for the original template. thanks to the redditors who knew the original creator! +Hi, + +While this sub has been extremely helpful to thousands of people, including myself, I think the nature of personal finance is such that after some time people start to just recommend the most "efficient" things to do despite the individual circumstances. + +Feel free to voice your opinions that you think ordinarily would be downvoted within the sub. + +I'll start - I think crypto have a place as a significant portfolio investment, especially if you're holding long term and not just looking to speculate. This is because the major coins are already too big to fail with too much institutional money even if you don't think the blockchain technology will be adopted for wide use moving forward. It'll continue, at worst, to be a speculative asset, similar to gold. + +Shoot your worst! +Looking to open up my second home to refugees. Wondering if anybody has ever done this? What was your experience like? Were there resources in place (welfare, WIC, etc) to help these families out? Any insight appreciated. + +Edit: please at least try to pretend you’re not blatantly racist when you come to criticize me ffs + New York (CNN Business)Tesla is preparing to [split its stock](http://www.cnn.com/2020/08/11/cars/tesla-stock-split/index.html), making it more affordable for average investors. It may need to do another one pretty soon if its shares keep surging.Tesla ([TSLA](https://money.cnn.com/quote/quote.html?symb=TSLA&source=story_quote_link)) has skyrocketed 50% since announcing the stock split on August 11. It now trades at nearly $2,100 a share.Once [the split](http://www.cnn.com/2020/08/18/investing/stock-splits-apple-tesla/index.html) goes into effect on August 31, current Tesla investors will get five shares for each one they own. That will [cut the price](http://www.cnn.com/2020/08/11/cars/tesla-stock-split/index.html) by a fifth, to almost $420 a share. The market value of Tesla, now hovering around $390 billion, will remain the same.But does Tesla deserve to trade at such a high valuation? While the [Elon Musk-led company](http://www.cnn.com/2020/08/18/success/elon-musk-tesla-ipo-vault-interview/index.html) is generating [consistent profits](http://www.cnn.com/2020/07/22/cars/tesla-earnings-q2/index.html), its sales are dwarfed by the major auto giants.Tesla is expected to generate nearly $30 billion in annual revenue this year. That’s nothing to sneeze at. But Fiat Chrysler ([FCAU](https://money.cnn.com/quote/quote.html?symb=FCAU&source=story_quote_link)) is estimated to report $100 billion in sales for 2020. GM ([GM](https://money.cnn.com/quote/quote.html?symb=GM&source=story_quote_link)) and Ford ([F](https://money.cnn.com/quote/quote.html?symb=F&source=story_quote_link)) are each forecast to post annual revenue of more than $110 billion.Still, Tesla’s market value is now more than four times the combined market caps of Detroit’s Big 3. + +A majority of Wall Street analysts are betting against Tesla. Of the 33 that officially track the stock, only eight have a buy rating on Tesla while 15 have it rated a hold and 10 are recommending a sell on it.Only three of the Tesla analysts currently have a price target for it above $2,000. The consensus target is just under $1,300 — almost 40% below its current price.Tesla continues to be a [big target of short sellers](http://www.cnn.com/2020/01/30/investing/short-selling-squeeze/index.html), investors who borrow the stock and sell it with the hopes of eventually buying it back at a lower price.Of course, Tesla fans can correctly point out that analysts have been consistently wrong and that Wall Street will eventually have to raise its earnings forecasts and price targets on the stock.Tesla may also get a further boost if it is [finally added](http://www.cnn.com/2020/02/06/investing/tesla-sp-500/index.html) to the blue-chip [S&P 500 index](https://money.cnn.com/data/markets/sandp/) — a move that could soon happen now that the company has posted a consistent run of profitable quarters. + +Full Article: [http://pioret.com/tesla-has-soared-50-since-announcing-its-stock-split-last-week](http://pioret.com/tesla-has-soared-50-since-announcing-its-stock-split-last-week) +The wordings a bit rough, but essentially minimum wage just went from $11.40 to $14 (In Ontario, Canada). I have a job as an Analyst in a lab, and my starting pay was $14 (before the wage went up). After 3 months, it was automatically going to be re-negotiated to $14.50 (which will be sometime this month), but now i'm wondering if I can try for something that reflects the current minimum. + + How can I go about bringing this up to my boss? How would I even word it, or argue for it? + +Edit: Hey everyone! Thank you so much for sharing your advice! I can't believe this exploaded the way it did, but I honestly appreciate each and every comment. To do a mini update, here's my plan of action : **Nothing!** + +Not in a bad sense however! I recognize this is in inopportune time for such a talk, and that my value as a worker does not necessarily reflect upon what others around me make. Rather, its a reflection of what I bring to the table, and should be compensated accordingly. Now, this beind said, staying in this job isn't my long term goals. I'll let the dust settle, garner as much experiance as I can in this field, and polish up the ol'resume to start finding a career that suits my needs and pays me the good monies. + + Its known where I work that you have to fight for every cent, which isn't really my forte, nor do I wish to do so. I'll work my way up to the next level of Analyst (Intermediate requires 2-3 years exp), and cast my net out in search of greener lands (heres looking at you big pharma), but damn if I won't be sending out resumes all the while. + +Again, thank you all for the advice! I really appreciate it, and wish y'all a happy new year! Please accept a photo of my cat, Her Ladyship, Nori, as an appeasment for the fact that I can't get around to replying to everyone : https://imgur.com/gallery/8wh4h +No, this is not another *"guys I'm sure we're in a bear market this time"* post. It's just that most of the threads catastrophising about a bear market don't really elaborate on what people should be doing. + +I'm new and since my experience investing is mostly in this absurd bull run betting on growth tech stocks with infinite P/E, I'd like to learn what to do in a bear market so that I have some prep when it happens. +Will there be a near-100% unemployment rate? Will all capital become consolidated in the hands of a few? Inevitable redistribution of wealth policies? Ultra-cheap goods? Will companies have to employ humans so that they will have customers to purchase their products? +I got diagnosed with Bipolar last year at 27. + +I was always very entrepreneurial, maybe it was the hypo-mania that gave me unique ideas and energy to work on projects. + +Just wondering if anyone else here has some sort of mental illness and still overcame it and made a shit ton of money? :P +Folks were asking about 'free carrying' a while back in the Daily, So this is one of my smaller speccie plays, but still an OK example of strategy. + +(*I'm not sure how good the image will be on mobile, I'm posting from my laptop*) + +&#x200B; + +**Free Carry\* in 4 Easy Steps.** + +&#x200B; + +\-Do your Research + +\- Buy the Dip + +\- Set a Target + +\- Execute. + +&#x200B; + +Leaves me with **48, 604** shares in the Market, (about **$13, 000** of profit at time of sale left in the market) after pulling my initial investment of about **$7,000** back out today *(+/- brokerages, CGT and shit)* + +Its a trade performed when the profit margin was just under 200%. + +&#x200B; + +I still like it very much long term, but its also important to stick to your overall Strategy. + +&#x200B; + +https://preview.redd.it/vfc3fatzuh971.png?width=1365&format=png&auto=webp&s=ee898bc80c855cef2af4a8e0fa8c28919694fbea + +&#x200B; + +https://preview.redd.it/48bxe5byvvc71.png?width=1366&format=png&auto=webp&s=82e7b682ff383383e751cd7afc4f6014ce43f994 + +(\*FREE CARRY ISN'T TECHNICALLY FREE, READ THE WIKI) + +&#x200B; + +&#x200B; + +Edit: Typically, its gone up again after this post....... + +&#x200B; + +Edit Edit: So I'll add this lil bit after engaging in the comments section. This isn't my preferred strategy, its part of a overall plan that has more moving parts than just the PTX SP. + +The thing with the markets and balance is you need to have rules. Your good ideas should leave you wishing you'd gone a little harder, your bad ideas making you glad you didn't. + +If you have no rules, short of obscenely good luck, you are going to lose. +original thread https://www.reddit.com/r/personalfinance/comments/2xqo64/i_think_my_bank_teller_miscounted_my_cash_deposit/ + +So I went into the bank first thing this morning. They were not aware of the error but because of the sum they told me they would do a hard count this morning. When they called me with the result it turns out that I was correct and they were missing $1,000. + +Two factors contributed to the clerical error: first off, my teller had done several cash swaps with another teller that day so they assumed the $1,000 was missing in those transfers. The second factor was that she counted $6,090 but entered $6,900, then she realized the mistake and tried to fix it but the "69" was stuck in her memory, therefore she wrote down that I gave her 69 $100 bills plus several $20s and a $10. + +This is a small town credit union so they don't have counting cameras. They were very grateful that I came in because not only would the teller have gotten in trouble, but the wrong teller would have gotten the blame because they assumed the problem was in teller #2's cash transfers. Actually, it sounds like they were willing to shrug it off, but I'd hate to see someone's career tarnished over something like this. + +As of now everything is squared up, they removed the $1,000 from my account and I think everyone walks away with a little life lesson. +Got inspired by Another similar post and would love to hear from the group. + +Age 35. NW =\~ 5 million. Currently a senior L7 at FAANG expected to make 1.2+ next year (Yay Stock appreciation) . Spouse also works in a very similar role and is making similar money. + +VHCOL area, 1 toddler. Annual expense around 300-350. + +An ex-colleague started a company 6 months ago and is looking to raise seed round soon. He has a working MVP (mostly built via contractors) and is aiming for a valuation of around 15-20 million in seed round. +He wants to me join as a CTO of his company and is willing to offer a even split. + +Work wise current and startup work should be around equally exciting. Though I would be working longer hours. + +Spouse an me both like working and expect to keep on working. (May be in 60-80% capacity after 5-10 years) + +I am debating between doing the startup vs continuing on the current path and trying to hit a VP/Senior Director level in a reasonable timeframe. (5-10 years) + +Assuming I am optimizing for maximizing my chances of reaching UHNW (30+ Million) or higher in a reasonable timeframe (< 10 years) which is the best option? +I feel like it’s a valid question that deserves discussion. Do we really own it? A substantial part for sure, retail as whole still probably multiple times over, but Superstonk? It doesn’t seem so sure for me any more… If we as Superstonk owned the float multiple times over, it would have been DRSed already, would it? What am I missing? On the other hand, all the shorted shares have to be somewhere…. so? (I’ve DRSed 98% my XXX myself, with just a few at broker to sell on the way down at gmefloorish levels). + +edit: fatty fingers +I know that within a TFSA any loss that is incurred, if pulled from the TFSA is permanently lost going forward. + +2 questions: + +1) Does the reverse also work? If I have (truly hypothetically) maxed my TFSA, lost say, $3000 on a $10,000 dollar investment, lost that room, can I "earn it back" with an investment gone right? + +2) Say I buy "XYZ" at $30 bucks a share, I lose money on it but don't withdraw. I then DCA down to $25. If I sell it all at $27 and withdraw have I incurred a permanent loss? + +Again I can't believe how ignorant I am about all this, just trying to avoid any potential big time mistakes. +**TLDR: the SEC may have exposed themselves to lawsuits from Gamestop or its investors by publishing a biased youtube video that denigrates specific securities** + +Gloves off apes. + +For much of this saga, the SEC has failed in their mandate to protect investors, despite the huge volume of evidence of market manipulation and structural market problems that has been available to them. (Consider Gary Gensler declaring that 95% of retail orders not going to lit exchanges and thus having no impact whatsoever on price discovery, then doing absolutely nothing to remedy that situation.) + +However, they have now gone further. The SEC has now clearly shown that they stand with SHFs and will gladly **actively help them** by sharing their talking points, this time using your tax dollars to fund misinformation which harms your investment. + +(For anyone that hasn't seen it yet, I'm referring to this video that the SEC just published on their official youtube channel, in which they mock meme stock investors [https://youtu.be/av3k\_lcGm9g](https://youtu.be/av3k_lcGm9g) ) + +In doing this they may have broken laws and/or the regulations that govern them. + +In particular, here is a definition of defamation: + +"*Any* *intentional* *false* *communication,* *either* *written* *or* *spoken,* *that* *harms* *a* *person's* *reputation;* *decreases* *the* *respect,* *regard,* *or* *confidence* *in* *which* *a* *person* *is* *held;* *or* *induces* *disparaging,* *hostile,* *or* *disagreeable* *opinions* *or* *feelings* *against* *a* *person." (*[*https://www.investor.gov/introduction-investing/investing-basics/glossary/market-manipulation*](https://www.investor.gov/introduction-investing/investing-basics/glossary/market-manipulation)*)* + +And here is the SEC definition of market manipulation: + +"*Market manipulation is when someone artificially affects the supply or demand for a security (for example, causing stock prices to rise or to fall dramatically).* + +*Market manipulation may involve techniques including:* + +* *Spreading false or misleading information about a company;* +* *Engaging in a series of transactions to make a security appear more actively traded; and* +* *Rigging quotes, prices, or trades to make it look like there is more or less demand for a security than is the case." (*[***https://legal-dictionary.thefreedictionary.com/defamation***](https://legal-dictionary.thefreedictionary.com/defamation)***)*** + +Personally I have always objected to the use of the term "meme stock" to describe $GME, as it carries the implication that the company does not represent a solid, serious investment . The term has the potential to sway the opinion of the general public about particular securities - traditional investors are often risk averse, and would be far less likely to invest in a stock that is described as a "meme" than one described as a value investment play in a stock that is heavily shorted and engaging in a rapid turnaround, driven by a highly capable new management team. This is why the term was pushed by Kenny's MSM mouth-pieces early on. I think $GME shareholders should have strongly pushed back on the use of this term any time it was used. + +To me, the use of the term "meme stock" by the SEC in their 14 October 2021 report (and various media apperances by Gary Gensler) was already highly unacceptable. They are a public body and should not endorse or demean specific investments. + +I like to point out the absurdity of this by making a comparison. Imagine if you heard the MSM defining a new term that inherently contains ridicule for the company and its shareholders, for *any other* investment type. For example, imagine if they coined the term "smog stocks" or "pollution stocks" for oil and gas companies. Do you think this would be considered acceptable for use in public media? And do you think you would ever hear the chairman of the SEC use the term in media appearances, or in official SEC reports? Personally, I highly doubt it. But this is precisely what happens with $GME, constantly. + +They have now gone a step further, and published a video on their official youtube channel which openly mocks "meme stock" investors, complete with an insulting portrayal of the "meme stock" investor ("you can do research, hur durr?", getting hit by a fucking pie no less.....) + +Again, imagine if they made such a parody video about oil and gas stocks - maybe with a cartoonishly evil monopoly man counting his stacks of money while oil is spraying everywhere from a pipe leak, catching alight, black smoke billowing....something like that...? The outrage and lawsuits that would surely follow... + +Some matters that might warrant further discussion: + +* Would the appropriate case be defamation, market manipulation, breach of the regulations that govern the conduct of the SEC, or something else? +* Should Gamestop take this legal action? They certainly have the cash on hand to hire a top team of lawyers. If this was the best route, the shareholder base would need to apply some pressure for the management team to take this course of action (maybe there would even be a way to ask them about this during the annual general meeting?) +* Should shareholders take this legal action themselves? There would probably be some people that would be interested in contributing to a fund to take legal advice about this +* Although spreading such misinformation very likely causes damages to Gamestop and shareholders (by way of negatively impacting the share price of $GME, which affects Gamestop's ability to raise capital and the value of shareholders' investments), this might be hard to conclusively prove or quantify. However, a court order for the SEC to remove the youtube video and publish a statement retracting their use of the term "meme stock" would be a very worthy goal too + +*Disclaimer: this post is not financial or legal advice, nor am I a financial or legal adviser* + +**EDIT:** just thought I'd add my thoughts on one comment that was made by a few apes when I posted this in another sub, which was essentially "but they do not specifically mention Gamestop in the video". That is true, but the SEC have previously defined the term "meme stock", in their official report of 14 October 2021, about the sneeze: + +*"GameStop Corp (“GameStop” or “GME”) and multiple other stocks experienced a dramatic increase in their share price in January 2021 as bullish sentiments of individual investors filled social media. As the companies’ share prices skyrocketed to new highs, increased attention followed, and their shares became known as “meme stocks.” Then, as the end of January approached, several retail broker-dealers temporarily prohibited certain activity in some of these stocks and options. This report of the staff of the Securities and Exchange Commission (“SEC” or “Commission”) primarily examines the January 2021 trading activity in GME, the most famous of meme stocks against the backdrop of contemporaneous trading activity in other meme stocks. Because the media attention surrounding the meme stock episode raised several questions about market structure, this report will begin with an overview of U.S. equity and options market structure and explain how individual investors’ orders are typically handled."* + +It is very clear that the SEC include GME when they use the term "meme stock", and I think most casual observers of this issue would also think of GME when they hear the term. +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). +Home rental company Airbnb is aiming to raise around $3 billion in its upcoming initial public offering, people familiar with the matter said on Friday. + +Airbnb said in August it had filed confidentially for an IPO with U.S. regulators. + +Airbnb will be one of the largest and most anticipated U.S. stock market listings of 2020 which has already been a blockbuster year for IPOs. + +https://www.cnbc.com/amp/2020/10/02/airbnb-seeks-to-raise-roughly-3-billion-in-ipo.html +Looking back, could you have learned and applied what you know now... as a beginner? + +Is the stuff you know actually teachable? + +or do you have to actually fuck up first in order to become a good trader? +So, I come in today for a consultation about getting a tumor in my leg removed. We're talking about the risks, etc., and it gets quiet as he's tying whatever doctor stuff up. + +Naturally, I am thinking about the market. + +I say, "... you got any stocks?" + +He laughs, looks me in the eye and says, "Virgin Galactic." + +At this point I laugh out loud because **why is the guy in charge of my livelihood in $SPCE.** + +I go, "space? LOL" + +He (again, SURGEON) says **"You ever hear of Wall Street Bets?"** + +I am immediately bewildered and slightly arroused. I say of course, he asks me if I was here in MARCH, and then starts talking about the "guy who was in GME before it was cool." He then asks me if I have any money in the market. + +I tell him I have 88 grand in TSLA right now, he *bursts* out laughing and says... + +##**"Yeah, you're definitely a member"** + +TLDR; A man with a PhD called me a retard, professionally, because of WSB + +Best doctor visit ever + +EDIT: I can't believe this made front page. I'm gonna show him this before the surgery lol + +EDIT2: + +[TSLA positions](https://i.imgur.com/uAHdr9y.jpg) +One look at GME's trading activity and there are clearly cyclical influences at play. When you're in a cycle, one off events have greater meaning. And there a one-off event that's been bothering me since it happened. The after hours price runup about 6 months ago. + +At least I think it was 6 months ago. It's been just long enough that I can't quite remember. I don't think that's an accident either. + +There was a day in the last 6 months where GME was around $120 all day, then it ran to $165 in after hours (with lots of volume). By next morning open it was back to $120. Apes struggled to explain this behavior, FTD covering became the scapegoat. But this event has only happened once and we KNOW they've had to cover FTD's more than once. So FTD covering doesn't really hold water. + +As of now I believe that event was Melvin transferring their short position to "someone else". I think they're pushing to wind down before June 1 so they can reveal that there is no open short position for GME on their books. This is a final attempt to shake apes prior to the stock split dividend. I also doubt it's a coincidence that Citadel/Point72 decided to take their investments back a couple of months after this runup event. I think they absorbed Melvin's short position and no longer needed to be directly linked to the firm. Melvin has been trying to close their original fund (though various techniques) pretty much since those two pulled out. They WANT to show Melvin's position. Because they've already set the stage. + +Stay sus Apes. + +Not financial advice. +Despite the fact that the coronavirus has basically stopped economic activity in China, NASDAQ and DJIA continue record highs. Despite the fact that the yield curve keeps inverting, the market continues to go higher and higher. What is making this market continue to rise? The market has gone mad. +You damn dirty Silverback Apes. I had to work my ass off today. In the last 24 hours, I've identified 83.5 THOUSAND DRS'd shares. + +Just to give you an idea of how crazy today was, look at how it stands out from the last 30 days. + +[DRS Shares added to Portfolios by Day](https://preview.redd.it/akhooskx4iu71.png?width=1600&format=png&auto=webp&s=9d934b7b8519ebeb3f8d139a8dcd63585983fa98) + +But it's not really like there were that many more posts to Reddit than usual. + +[DRS Reddit posts by Day](https://preview.redd.it/9rb4ccv45iu71.png?width=1600&format=png&auto=webp&s=49b8445fd63f3d00b0139c678e774ee847eb756a) + +# So what does this mean? The goddamned silverbacks have jumped in the pool. + +We've seen anecdotal evidence that some brokers were sandbagging GME whales... + +# Want some more proof? + +Here is the distribution of X, XX, XXX, XXXX, and XXXXX Apes: + +[Ape Distribution as of today, 10\/19\/21](https://preview.redd.it/m8aa2mtr4iu71.png?width=1600&format=png&auto=webp&s=93cd1a360ff683c1e927d7ee4f465099c25cb826) + +But look at this shit, this is just 10 days ago: + +[Ape Distribution as of 10\/9\/21](https://preview.redd.it/boctcfcu5iu71.png?width=1600&format=png&auto=webp&s=18f1ae41a2b778c88762f1d37448d9af101612e4) + +Do you see what I see? The proportion of X to XX has changed quite a bit. My guess (and I think I'm right), is that a lot of our silverbacks opened CS accounts with a purchase and probably shared it to Reddit. Then as their broker transfers come through, my software will actually MOVE those records from X to XX. + +Can I quantify this? Well, if I spent some time writing code, yeah... but I don't want to do that. + +I do log when this happens, and lately I've been getting PAGES of this in the logs + +[ComputerShare Account compilation program output sample](https://preview.redd.it/1wxvyy1j6iu71.png?width=609&format=png&auto=webp&s=d73d8c634dcf57af4d9e99dac721467cf93f823d) + +&#x200B; + +But the REAL evidence is the crazy jump in Standard Deviation in the last 24 hours. + +Yesterday, std dev was 430. Today 730. 🤯 + +&#x200B; + +Anyway - the data is flowing out to [computershared.net](https://www.computershared.net/) now. + +# Enjoy! + +BUY HODL DRS + +&#x200B; + +EDIT 1: Just a reminder that this is not DRSbot. DRSbot is the work of other very talented and intrepid apes. See here for more information about this project: [https://www.reddit.com/user/jonpro03/comments/q7o6ra/drs\_infographics\_faqs/](https://www.reddit.com/user/jonpro03/comments/q7o6ra/drs_infographics_faqs/) +I don't know who needs to hear this but if you're new and thinking of getting into this industry you should know that true trading is incredibly boring, you won't find fulfillment in trading unless you find making money fulfilling. Once you pass the learning phase and get into the profitable phase, it's all about coming to the charts taking your setups and just letting your edge play out. The excitement and emotional rushes you get from winning and losing should not be there if you have an edge because in the end you should be at a level of understanding that the numbers will play out. The only fun part of trading is when you are in your learning phase. Some of us are actually in the phase of profitability already but mess it up because it's boring and we have a need for emotional excitement or don't trust our system because of how many times we've failed in the past. But truly in the end Trading is a very boring yet lucrative profession. +Rent was paid on December 1st, a new management company bought our property on the 7th, they are demanding payment and not accepting my bank statement as proof and saying it's my issue. What options do I have? + +Edit/update: I appreciate all the comments and advice! I am about to head out to the post office to send certified letters to their head office and regional office. I did send an email last night, but that provided zero resolution. I will try to remember to update in a week or so. +I'm 26 and live with my parents. I have autism and my finances have been a wreck forever. I don't feel happy with the money I make at work. I work in a gym cleaning and I make $10 an hour. I also receive money from the state because of my disability with math and my mom is my rep payee. + +I currently have a $440 dollar bill from my therapist I stopped seeing, I might have even more in medical bills because I never kept track if that, my mom literally pays for everything except for me buying food and gas for my car along with my frivolous spending. + +I have medicare because of my autism and I don't understand copays or why they don't cover everything. Mom's also mad at me because she payed for a damaged mirror on my car and my brakes which I also don't know how much I owe her for that. + +I'm just getting older and I'm in a slump in life and I really want to move but I'm financially incompetent. I'm addicted to frivolous spending. + +I don't know what else to add. I'm scared. Help. + +UPDATE: Now working with my mom, therapist and case manager on budgeting! Thank you ALL! +It seems like this vaccine has real promise but the challenge is in the transport. Most doctors don’t have the specialized refrigerators to store the fragile vaccine. Given the fact that these ultra low temperature refrigerators can be quite expensive (in the 10s of thousands each unit) which company will be the biggest benefactor of this newfound demand? +Sit back and take a hit of crayon and put on your tin foil hats because these may be the ramblings of an Ape gone mad: + +THERE IS NO DOUBT IN MY MIND, WE ARE IN A SIMULATION. WE HAVE FORMED THE LARGEST GUILD IN THIS SIMULATION, AND WE HAVE FOUND A GLITCH AND ARE GOING TO EXPLOIT IT BEFORE THEY ARE ABLE TO PATCH IT OUT. + +The stock market is nothing but a way for the simulation to move money and power from one place to another. Its supposed to be confusing and hid in shadow for us normal people. We were never meant to look too deep into what the stock market actually is. But my fellow Apes, we have, and boy did we find a glitch in the matrix. + +The last few months have altered my way of thinking, it has changed my very human condition. I am completely convinced we are in some type of Matrix/ Truman show simulation. I always knew it. I always felt life and reality were a bit off. I always felt like things were just not supposed to be this way. I felt like no matter what I did my life was on a "schedule", I felt all the people around me were almost like NPCs just put there to fill out the world. I felt like most people and media respond to things in almost a programmed and predictable way. + +Some people come into this world with the attributes to become successful. Some have amazing strength and speed and are able to ascend through sports. Some have amazing musical and classical skills and are able to ascend by producing works of song and art. Some are born with a cheat code, into a life of money and power and never have to do anything. But the vast majority of people, are just here to fill out the simulation. We are the caretakers of the world, we keep it moving from one season to the next. This is our reality, and there is no changing it. UNLESS... + +THE AMINISTRATORS HAVE MADE AN ERROR. THEY HAVE LEFT A BUG AND AN EXPLOIT IN THE WORLD AND WE HAVE SEIZED IT. + +I think every once and a while someone is put here to be just a caretaker but they have a unique set of attributes. A random collection of thoughts and intellect, of courage and understanding. They aren't especially strong or fast, they cant sing or paint, they don't have a great mind to invent or build. But what they do have is a unique combination of everything that lets them truly see what's going on. It lets them see the strings that are controlling everything even though they cant do anything about it. They don't listen to the masses or what the media tells them. They are able to think and digest information on their own. In the past these people would just go through the motions of life. Never feeling truly satisfied or happy. Never able to ascend to the upper levels of the simulation. Until now... + +THE ADMINISTRATORS MADE A GRAVE ERROR GIVING THE PEOPLE VIDEO GAMES. + +To most people video games are for children, a waste of time. Nerds sitting in the dark on computers and consoles wasting their lives. To me they are much more. To me, they are a training machine in how to break the code of this simulation. Sure, the technology we have is nothing in comparison to whatever is running this simulation, but that doesn't make it any less useful. Every great painter started with cheap child's paints and brushes. Every athlete started with an old ball or dusty field. Every musician started with an old out of tune instrument. Video games are no different. I've learned how to build great cities with utilities and transit in video games, I've learned to command great armies and conquer worlds, I've learned to wield weapons and magic and use courage to overcome obstacles. I've learned that most games have glitches and bugs to exploit. BUT MOST IMPORTANTLY, I'VE LEARNED TO COMMUNICATE AND TRUST SOMEONE I'VE NEVER MET THROUGH CHAT ALONE. To be able to coordinate complex strategies with sometimes dozens of people I've never met. Oh yes, I've learned a lot from video games. + +And the best part... I'm not alone. In January my life completely changed. Since finding this community I feel in control, ascended. I feel like I am part of a real life guild and we are raiding the end game instance of this simulation. We are over 250,000 members strong! We have our Mods who are our TANKS that make sure no damage comes to this community. Always out front deflecting trolls and shills with their might ban hammers! We have our leet DPS, the members that post the god tier DD. Using their research and intelligence to attack and weaken our enemy. A great piece of DD is just as damaging as any backstab or eviscerate. Finally we have, (in my opinion) the most important member of any successful raid, our HEALERS. The meme-lords! Nothing heals the soul better than a great meme. Short attack? We have a meme for that. Robinhood fuckery? We have memes for that. Reddit down? Memes will be ready when we're back up. From the GME hype videos, to the drone flyers, to the template makers, to the bingo card and crossword makers. You keep us going. You give us hope and heart when all is dark. I have admittedly lost faith at times. I felt that I was throwing money away and was stupid for believing. But watching some of those GME hype videos gives me chills. It brings me right back into the fight. + +So in closing we are a guild here. Not just any guild, an end game raiding guild. We will succeed! Even if it takes, weeks, months, or years. It doesn't matter! I will show up for the fight, do what I can, and show up again tomorrow. + +Buy. + +Hodl. + +Vote. +IMHO, no startup project needs 4 billion dollars to build their initial product. Even a supersonic passenger plane project (Boom Supersonic) expects to build their prototype for a mere fraction of the EOS raise. + +EOS will go down as the greatest heist of the Internet era. +It seems like the bad news outweighs the good news 10 to 1 yet any slightly positive news gets traded like it’s the oracles of a God and any bad news no matter how dire gets traded like it’s already priced in. Will the markets ever reconnect with reality and would that be a 1929 event? I’m on the bearish side of things mainly because I can’t find a logical argument to support the narrative we are going back to 30k on the Dow in the second half of this year. Every fiber in my body is saying things are ridiculously overpriced at the moment given the reality unfolding. I do believe absolutely that we will recover, but I don’t see a realistic scenario for that until next year. It’s like conspiracy theories and rampant speculation have become the new truth. Maybe I have lost my mind, but nothing about any of this makes any sense. But that is the saying that markets can remain illogical longer than you can remain solvent so I would say tread with some caution in either direction you are betting on. + +Edit: thanks for all the feedback. I am open to being totally wrong so I don’t want to say I am 100% certain of my thinking, but it makes the most sense to me at this time. That may change with time obviously. I guess what is fueling my pessimism is that I work in the service industry which saw and unprecedented 85% drop in business in my area during the shutdown. We furloughed and laid off about half our staff. Our state has reopened, but yet we aren’t seeing any huge surge in business not even this week. We have picked up, but only enough to support the skeleton crew we are working with. There isn’t any strong signs yet we we be able to bring back all our workers in the near future. I fear that many of our furloughed workers will turn into permanent lay-offs. I guess that’s what I’m seeing for the service industry; us operating at 60-70% our normal levels for the rest of the year. And if it’s doing that to us then what is it going to do to other industries like retail, restaurants, and entertainment which are in much more vulnerable positions? But extrapolating what I am seeing on the ground into a macro-picture could be mis-leading, but it has me spooked enough that I’m not going to bet heavily on this rally. There are deals to be had though, but just use some caution and probably avoid meme stocks. + +Edit 2: My state reopened May 1st so it’s been about 3 weeks and we have yet to see this “return to normal” even though our state is fairing quite well with the virus and our case count is consistently dropping even with the reopen. I do agree that states that stay closed too long are doing unnecessary damage to their economies at this point. Unless you are New York or New Jersey then it’s probably time to start doing a phased reopening. But what I am seeing on the ground is not anywhere close to a “return to normal” and we are 3 weeks into our reopening. That is what is spooking me. I do believe we will return to normal, but I anticipate it being much further away that the markets are currently pricing it in to being. But again I could totally have this read wrong. +So I'm in my fourth and last year of undergrad at a University in Europe. In order to graduate, weare required to write and present a senior/bachelor/undergrad research thesis/paper. We have to get a professor to advise and lead us, do our own research, be thorough... Key requirement is obviously some form of econometrics in it, be it a simple model or a thorough application. Obviously, the better and closer it is to an actual paper, the better grade we will get. + +I want to finish things off the right way, so I want to challenge myself to write a good thesis. The top papers get a small recognition and besides, I want it for myself. I'm gonna pursue a PhD and so I would like it to be a first good step in economic research. + +The only problem is, I can't come up with a good topic that isn't repetitive (each year a lot of theses cover very common stuff like effects of minimum wage on economy X, TPF differences, effects of education...). I'm not trying to shoot for the moon here, I just want to be a bit more original. A lot of older guys told me look for something easy and that I can get data for quickly, but I don't want it to be easy. If I can impress the committee and create something good, I'll be satisfied. + +I've taken many econ courses, done a study abroad, explored different areas and I have specially taken a lot of econometrics, math and stats courses (Stats I and II, Calculus I and II, Linear Algebra, Differential Equations, Econometrics I, Time Series, Advanced Econometrics, Microeconometrics, Applied econometrics) (yes my school has a good metrics program). I have also taken other econ and applied econ courses (Game Theory, Dynamic Macro, Behavioral, IO, Advanced IO, natural resources and environmental econ, labor market discrimination econ, development econ, intl trade, regional and urban...). I've also taken finance and data mining courses. + + If I had to choose a few of these that I "love" (although there's no such thing as an econ course I disliked), I would say anything math-intensive, like anything econometrics, Game Theory and Behavioral. As for model-based courses or applied econ, I loved nonmarket valuation (environmental and natural resources) and Labor (although I don't want to turn to cuteonomics). + +I know I have to come up with the topic myself and not ask around, but I would love some insight from other people who had to do the same thing or that can just chip in with thoughts. +Question for all ,but mostly for people who started investing or made large purchases during the corona sales. (I opened my portfolio beginning of April 2020) + +Do you still add to the positions you opened at the time of low prices ? +If yes, how do you justify paying the price ? + +Although I know that prices are not gonna fall that low, I have really hard time justifying paying so much. + +Example: +Xom buy price 39,28 +O - 59,99 +FRT - 68,90 + +Just to name a few. + +I’m trying to DCA my positions but I haven’t added in some of my positions for a year. +Lets break it down. I have around $17,000 to my name and turned 21 in January. I have a full ride scholarship and not a cent of debt. + +The specifics: + +\- $9000 of cash in my savings + +\- $6500 in Charles Schwab portfolio (6000 initial investment) ($500 gain) + +\- $500 in robin hood + +\- $250 in coinbase + +\- $250 cash + +\- $500 school fund + +I have a full ride in college and currently going to start my senior year in august. I will come out with no debt. I have a car that works fine and all paid off. I will be receiving about $2000 more in summer from my internship, and will try to find an internship during my fall and spring semester. + +My monthly expenses starting in august is roughly $200 for food and cellphone. (I'm very frugal). I will literally go out of my way to save a few bucks here and there if need be. My Pell grants and scholarships will pay for my living next year as well. I will have around $1,500 in miscellaneous expenses before senior year. I am an accounting major and will go a fifth year in college, that is paid for as well. I also live in Nebraska, so many things are cheap for me. + +I need ideas to know what else to do with my cash on hand. I'm tired of watching it sit there. I need some ideas. and will reply as soon as possible if any questions. + +P.s. My whole family lives pay check to paycheck, The only reason why I've saved so much is to not turn out like them. Thats literally the only thing that keeps me going. + +[edit: I fell asleep last night due to me working the night shift. Thank you so much for your input everybody I never expected something like this to blow up!] + +[edit: CREDIT SCORE: ***785*** (a lot of people been asking about that.) +Facebook hit with anti trust lawsuit. I see some people saying that Instagram and whatsapp would be split from Facebook + + + + +https://www.wsj.com/articles/facebook-hit-with-antitrust-lawsuit-by-federal-trade-commission-state-attorneys-general-11607543139 +I work full time and support myself independently. I keep trying to fit in savings into my budget but it never works. I feel like im supposed to be starting a savings but I just can't seem to make it work. + +Is that okay? If I stop trying so hard to put money away every paycheck will I be okay in the future? + +Sorry if this is a dumb question, I'm not supported by my parents so I just need some advice. +I'm 34 (M) in med school, married, 3 kids. Wife works but we have ~$0 saved and no retirement. I'll be 38 once in residency hourly making ~65k, I plan on maxing out roth then and my pay will increase when I'm around 42. Aside from maxing out 401k and roths, what can I possibly do to catch up on retirement? Where do you put your money and how do you invest at that point? +Now I’m going to be the person that references a post that references a post... but I thought this was worth sharing here. + +[This post from earlier](https://www.reddit.com/r/financialindependence/comments/a68t9p/anyone_going_faster_than_you_is_crazy_anyone/?st=JPPN34D7&sh=d5e671ac) talks about being lucky but don’t discredit the work people put in even if their payoff was “lucky”. + +And further, not to say someone is lucky because they received an inheritance... this is the point I want to touch on. There were many people who commented that they received X dollars from their parents but would give it all back to spend more time with them. + +You’re all on the FIRE track. Many of you probably hope to be able to leave your child(ren) with money when you pass to make their life easier. **But why wait until you pass away? With the sentiment of so many saying they’d give it back to spend more time with their parents.... why not give it while you’re still here to spend time with them?** + +My parents have decided to do this. They’ve been retired 6 years. Not early, but on time (at age 60 they retired). Each year they pay for a family trip for my brother and I and our families and them. They use the money to spend time and make memories with us NOW! They’ve contributed sizably towards our kids college funds NOW so our kids can see how education is important to grandma and grandpa. + +Both my brother and I paid off all our debt, which were student loans, (except mortgage) before this began so they didn’t bail us out, but they taught us fiscal responsibility. Once they saw we mastered that, they let us in on their plan. + +To give us our inheritance while they’re still alive. To see us enjoy it. They’ve given generous Christmas gifts to us the last 5 years. They’ve been able to see us use the money and get married to our spouses. They’ve been able to see us start families and spend a little more to upgrade to the stroller we absolutely wanted but was a little out of reach. They’ve seen us be able to travel or replace the furnace without it destroying our budget for the year. They aren’t giving us huge sums, but enough that it eases the burden of emergencies and allows us to enjoy some things we might not be able to at this stage in our lives. + +Furthermore, they are doing JUST fine with their investments and their pensions, that sharing with us isn’t preventing them from enjoying retirement. Heck this year alone they’ve gone on 9 different trips! + +You may think this post is spoiled and braggy. Or that I’m “lucky”. We were never rich growing up. They made between $30k (in the 1980s) to topping out at $90k when they retired. They saved, were frugal, and invested for 30 years. And now, they just want to share it with their kids. To see us enjoy it while they’re still here with us to enjoy it ❤️ + + +Not sure how this sub feels about linking to WSB but I just wrote a mini novella on my gains this year from $35k to $1.75M (50X) trading stocks including detailed history, theses, strategy/philosophy, and my fatFIRE goals + +Thought folks here might be interested in how a high risk/high reward year turned out and the thinking behind each move, would love to hear feedback + +https://www.reddit.com/r/wallstreetbets/comments/kjyzh7/a_sir_jack_a_lot_christmas_carol_my_magnum_dong +In the episode [\#267 of MacroVoices](https://www.macrovoices.com/965-macrovoices-267-jeff-snider-why-deflation-is-the-story-not-inflation) Jeff Snider claimed that QE has no decreasing effect on the yield curves of US Treasuries and other bonds e.g. the German bunds. + +He even said that whenever QE purchases happened in the past the opposite of the desired effect happened. Namely the yield curves slightly went up after the QE purchases. + +In his view the most important reason for the low interest rates since 2008 is the lack of structural growth in the economy. + +I always thought that QE is the biggest driver for low interest rates so this kind of blows my mind. + +If someone has good arguments on why Jeff Snider is wrong, I would love to hear them. +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! + +Updated version [https://www.reddit.com/r/ASX\_Bets/comments/m65jjh/insider\_transactions\_spreadsheet\_updated\_to/](https://www.reddit.com/r/ASX_Bets/comments/m65jjh/insider_transactions_spreadsheet_updated_to/) + +# TL;DR + +Hi everyone, + +I'm releasing a spreadsheet I created with the details of insider buying and selling for any ASX-listed company within the last 6 months. The spreadsheet automatically updates every day. + +**Link to the insider transactions sheet.** + +[https://docs.google.com/spreadsheets/d/1UselLLx5\_-gyUmciP3Pw-2kMcVyAeGfFiGyWK3-TQBk](https://docs.google.com/spreadsheets/d/1UselLLx5_-gyUmciP3Pw-2kMcVyAeGfFiGyWK3-TQBk) + +**Example stock screener using this data.** + +[https://docs.google.com/spreadsheets/d/1T6VCpn1Z61NgoxvGlmMz3YmHGfSCI-lAtjXasIHoidU/edit?usp=sharing](https://docs.google.com/spreadsheets/d/1T6VCpn1Z61NgoxvGlmMz3YmHGfSCI-lAtjXasIHoidU/edit?usp=sharing) + +# The motivation behind it. + +I think spreadsheets are incredibly valuable for conducting analysis and due diligence of a company. There are so many methodologies when it comes to investing that having a dashboard that will fit all styles is not do-able. This to me is the power of spreadsheets. I can easily customize it to suit the needs of my investing style, to show me the metrics I want, and even write formulas to create new ones. I can transform the data however I see fit. + +Because of these benefits, my spreadsheet is always my first view of a company. It's where I get the big picture of a companies fundamentals. From there, I can quickly tell whether I want to dig deeper. + +However, up until recently, I had to use a tool like MarketIndex to review insider transactions. This isn't such a problem when I review single stocks, but what about when I want to screen hundreds? Manually checking each and everyone would be extremely arduous and time-consuming. Recent insider buying or selling can serve as a great indicator of management's confidence in upcoming events. + +# How to use it. + +If you're familiar with Google Sheets, this should be reasonably simple. You can copy and paste the below formula into an empty workbook. + +`=IMPORTRANGE("https://docs.google.com/spreadsheets/d/1UselLLx5_-gyUmciP3Pw-2kMcVyAeGfFiGyWK3-TQBk", "A1:E2000")` + +This formula imports the cell range `A1:E2000` from my sheet to yours. I recommend this method over simply duplicating my spreadsheet because the data is updated every day and you won't get that benefit if you create a hard copy. + +Your workbook should look similar to the picture below. + +[Shows your workbook now filled with the data from the imported sheet.](https://preview.redd.it/vt347wzfo2n61.png?width=1355&format=png&auto=webp&s=02a1ca1163049a6427ab44525fc131e6cfa40e05) + +From a different workbook, you can now use the VLOOKUP function to search for the tickers you want to get insider transaction data for. + +`=VLOOKUP("LRS", insiders_raw!$A$1:$E$2000, 2, FALSE)` + +In the example formula above, our insider data is stored in a workbook called `insiders_raw`. We're using a VLOOKUP formula from a different workbook to search our raw insider data for the ticker `LRS`. + +The `2` in the formula tells it to get the result of column 2 which in this case would be the number of insider buys for LRS. If you want to get the total $ cost (how much money was spent) of those transactions, you would change that 2 to a 3 like so. + +`=VLOOKUP("LRS", insiders_raw!$A$1:$E$2000, 3, FALSE)` + +Sell orders would be 4. + +`=VLOOKUP("LRS", insiders_raw!$A$1:$E$2000, 4, FALSE)` + +With the transacted $ value of those sell orders being 5 + +`=VLOOKUP("LRS", insiders_raw!$A$1:$E$2000, 5, FALSE)` + +Buy transactions include purchasing of shares and exercise of options, it doesn't include issued shares or expiring options. + +# The end. + +Hopefully, this has everything needed so you can get up and running with this data but if you have any questions or suggestions for improvements please feel free to let me know. + +Thanks. +Wish this platform had a projected income feature which showed how much dividends I would be expecting in a calendar year. Hoping someone on their development team reads this. Happy investing y’all, stay strong! +With the invasion of Ukraine, I thought it would scare a lot of investors. The sanctions on Russia affecting many European countries hasn’t effected how well the S&P 500 is doing as well as DOW and NASDAQ. Also the energy sector was the only thing in the green at yesterdays close, someone explain that as well. + +PS: also theres a lot of comments so if you comment can you not say the same thing someone else said bc im trying to read everything yall say. Thx:) +Gonna be graduating from college in one semester and am fortunate enough to have already secured a decent job in a low cost of living area. Right now I’m looking for places to rent with 2 other friends but have always been interested in getting into real estate and figure why not just look into purchasing instead. + +I’m looking for duplexes with 5-6 beds total. I would live in one unit with friends and would need to find tenants for the other unit. This is in a college town with lots of students though so finding tenants won’t be very difficult. + +My salary will be $65k~ and am fortunate enough to have no debt. I have $30k~ in savings for down payment and other fees/costs associated with purchasing as well as any initial repairs that need to be done. Leaning towards an FHA loan for that low down payment. + +I guess what I’m looking for is some opinions on if this is feasible or not? Also would love to hear from you guys on what a safe budget is (I.e. how expensive of a property can I afford). Most places that fit my criteria are in the $275k-$350k range. Rents in the area range a lot depending on size of unit, location, and overall just how nice the unit is. Typically $400-$700/room though. I figure I can get about $1500-$1700 in rent just from my unit and then I still have the other unit to rent out. + +Obviously I’m new to this so I can provide more information if needed. + +Thanks in advance! +Fuck Chase. Opened a Chase savings account a year ago for the bonus, and when i closed it out last week they ended up giving me 19 cents more than I had in the account after accrued interest. Called their customer service several times and got a "too busy" signal/couldn't get through, today sat on hold for like an hour to talk to customer service because a banker at my branch said it was likely just a clerical error, and when I finally got through they said that i owe them money, and because my account is pending closed I cant transfer it or mobile deposit (according to the customer service rep), but have to hand deliver 19 fucking cents to the physical branch. Fuck Chase, they're never getting a dime from me again +I have the persons account number which the third party accidentally deposited my tax refund into. Bank of America has been woefully unhelpful. I had the third party tax service send Bank of America an indemnity letter but no one at BoA customer service seems to be able to help me expedite that process or even knows what I’m talking about. +What can I do? My tax refund was sent to this random persons account in April and obviously they kept it. I need this money and both institutions are unhelpful. IRS can’t do anything. BoA says they can’t do anything even though they’re the ones that deposited the money into the wrong account without checking the names matched which seems unreal to me. + +How do I get my money back and can I do anything with this persons account number to get it back sooner? + +Updates: My tax return has the correct bank account number on it. The efile service switched the last four digits of my social and bank when they re-input my direct deposit info. +The error was on them. But Bank of America doesn’t care and says they can’t do anything. And efile has no phone number to call only a “chat” option. + +UPDATE: a very kind Redditor got me contact info somehow for the company and I now have an email instead of a “live chat” so I will reach out to them! Thanks for all the help. The reason I wasn’t reaching out to the efile is because literally all my interactions with them have been unhelpful and taken forever and no one would give me any real human to contact. Hopefully I will hear back turning off notifications now because the same advice is being repeated. Thanks ! + +******Service was eFile.com***** +I own a small business that has been shut down by a state mandate related to covid. + + +I’ve been building my little real estate rental business on the side basically as a way of diversifying my income. + + +I thought I one income stream got rocky, the other could pick up the slack. + + +It’s really throwing me for a loop to have both effected. + + +On the plus side, one thing that I keep thinking is thank God that a global pandemic is causing all of this and not my own mismanagement of the businesses in good times. +As the title states my girlfriend discovered that her savings had about $12,000 drained out of between July 6th-8th. The charges were labeled as "Force pay debit". What I found extra odd about the situation is that we received a letter from her bank regarding a check written to the order of her for $3,500 that seems to have bounced and it had her signature forged on the back? This is what initially made her check the account. + +&#x200B; + +Her purse was stolen back in January including her ID and wallet, which is our best guess as to how they gained so much information on her. Her bank login history shows the person logged in as far back as a month ago. My initial thought was that the person used the information they gained from her to gain control of her account but they didn't seem to change the password. What other ways would a person be able to take this money from a savings account? + +&#x200B; + +She has called her bank but it is no longer in their hours so she will have to wait until the morning. + +&#x200B; + +Is there anything else we should be worried about or aware of? Is there a high chance of her getting the money back? I assume they somehow faked their identity using her stolen driver's license. + +Update: she filed a police report this morning and went to one of the local bank branches and just text me they said it was obviously fraud and should be getting reimbursed. They didn’t open an account in her name but were cashing checks against her. +Your markets are run by bots. Now your daily threads are too. + +&#x200B; + +This thread is for plans and thoughts prior to the market open period. + +Maybe use this time to read the [wiki](https://www.reddit.com/r/asx_bets/wiki/index/) [.](https://styles.redditmedia.com/t5_2hqqj5/styles/communityIcon_41pmnaqp4zn41.png?width=256&s=59bf38425fb316fdcba30365b272a5f19352f370) + +&#x200B; + +Posts relating to the "Is /r/ASX_bets about finance or effect your mental health?" etc will lead to a ban of the mods chosing. [You have been warned](https://www.reddit.com/r/ASX_Bets/comments/l0l9et/the_does_asx_bets_effect_your_finances_emotions/?utm_medium=android_app&utm_source=share). Last ban length: 1,048,576 days + +&#x200B; + +[We have an active official/unofficial discord. It's open to all discussions, stonks related and non-stonks related](https://discord.gg/2sQBNuM). +Would presume over the last 3 to 4 years the losses of those betting against Tesla would be much higher than 38 billion. +Also over the last year, anyone betting against the FAANG+M stocks would have been decimated. + +So why is the Popular Meme stock so important? If Apple market cap goes down 1 percent it probably same loss as the shorts had against the popular stock. + +Edit: thanks for all the replies and insight. Much appreciated. +Hi all, + +Thrilled to share the GameStop NFT marketplace integration with Immutable is officially live! + +[https://twitter.com/0xferg/status/1587174624701255682](https://twitter.com/0xferg/status/1587174624701255682) + +**Why this matters:** + +This is one of the largest milestones in web3 gaming history. Fundamentally, games want audiences, and GameStop is poised to be a mainstream NFT marketplace (plus much more), leveraging the power of one of the world's largest communities + 50 million retail customers. Marketplaces also require content - and I'm thrilled to share Immutable has onboarded more games in the last quarter than in the last two years *combined*, and more than any other L1 / L2 in the world. + +We're taking Web3 gaming mainstream. And let me be clear -- this is not some passing fancy of GameStop exec, or crypto. More money has been invested in Web3 gaming in the last two years ($14 billion) than almost any new tech vertical *in the world.* It's more than the first decade of gaming investments of this century combined. This is a trillion dollar opportunity, but where the $ don't go to incumbents - they go to the players and users themselves. + +We are the beginning of a decades long shift to true digital property ownership. We're at the forefront. Let's show everyone what the future of gaming is - and make sure it's on games people actually *want* to play. + +**The future:** + +Looking forward to working closely with you, and the GME team, over the next decade. This is the first step of many. *Let me know any questions you might have in the thread below and I'll try and get to as many as possible!* + +**Start trading:** [https://nft.gamestop.com/](https://nft.gamestop.com/) \- every trade earns extra $IMX as a reward for the launch period. + +For now, + +[Robbie](https://twitter.com/0xferg) + +[THE GAAAMES](https://reddit.com/link/yine8g/video/fp9yycnu47x91/player) +This may not be the first time this is asked, may not be the last. But that doesn't mean that every time it creates an interesting exchange. +For as long as I can remember, my mind has been on 'saving' mode. Sometimes I forget that money can be spent, and that is not usually a healthy thing to happen. We should live in moderation and find a balance. But I know I am not the only one to sometimes lose it. I sometimes struggle between accepting the buying of 'stuff' as something acceptable - but I have fewer issues when eating out or taking an Uber Black instead of a normal one. +I am on my way to FIRE. Currently 33 yo with a SR of 66% and a NW of ca. 600k. At this rate it may be possible before I turn 40, but I'm not trying to fix a date. + + +I'd like to know, not how you 'splurge' but what you do/buy/allow yourselves in order to stay sane. I hope it's ok to ask this here! Thank you all! +Hi Stonk, I will be happy to respond to your request below; + +&#x200B; + +>... for our Euro ape friends, many are still hitting resistance from their brokers on voting - can you provide maybe 5 bullet point steps they can do to maximize their voice and rights? Something I can post that really drives home the concrete measures they can take? + +&#x200B; + +First. I want to make clear to the Euro apes that Europe is way ahead of the U.S. in many important corporate-governance matters - like Internet data-privacy rules, gender diversity on corporate boards and, especially, on the need to buy-in shares to settle fails to deliver. But yes, when it comes to European, and Asian-country performance too on voting U.S. shares, many of their systems and procedures are highly convoluted, confusing, creaky, leaky and smelly - and often "fail to deliver" the votes in time for Shareholder Meetings. Extra attention to "proxy plumbing" is required - as it is here in the U.S. too. + +&#x200B; + +**Here are my tips to assure that our votes will indeed be recorded at Shareholder Meetings. And please note that many of the tips are equally applicable to U.S. holders who find their votes lost in limbo, whether accidentally or by design:** + +&#x200B; + +\* First, make sure that you did indeed own the shares on the "record date" for the Meeting - per the confirm brokers send when you buy shares through them, and which proves you are a share ***owner***... + +&#x200B; + +\* If you *are* eligible to vote - and have not received proxy material and a proxy card or "voting instruction form" - call your contact at your bank or broker immediately to demand that these voting materials be sent to you by overnight mail. (Unfortunately, your "contact person" - and his or her contact persons too -  whether in Europe or in the U.S. - typically know NOTHING about proxy plumbing - much less who to contact within their company to get the job done. So be prepared to persist - and to "make noise" until your legitimate demands are met. \* If you are told that you are ineligible to vote because your shares are in a margin account - as some apes have apparently been told - cancel the margin provision if you can, and demand the voting materials. (You can also move your account to a better-equipped broker or bank, as many apes say they've done, but you'd need to do it before the record date.)  + +&#x200B; + +\* I noted that several commenters suggested demanding a stock certificate - which, if you can accomplish this before the record date, would make you a "registered owner" - and *much more likely* to get the voting materials you are entitled to. But, sad to say, in addition to the timing issues, most brokers charge exorbitant fees to send you a stock certificate ($50 to $300 or more) - supposedly to "cover their costs." But this is a highly automated process so their rationale is basically BS - and is designed to literally ***lock you in*** as a "customer." + +&#x200B; + +\* There IS a way around this too - and a better way - IF you are prepared to persist - and that is to instruct your bank or broker, or custodian to "DWAC" your shares to the transfer agent, which will literally "De-Whack" the barriers to voting. Most brokers will play dumb - and sometimes BE dumb - but this system is widely used by brokers to receive shares that are sold upon the exercise of stock options - so whack away at them until they do as you ask. + +&#x200B; + +\*\* I tried hard to keep my tips to five, but there is yet another set of proxy plumbing issues that make it well-nigh impossible for many share owners to vote on time; In the U.S. we adopted a "Notice and Access" system that permits issuers to send you a "Notice" about the upcoming Meeting - but which forces YOU to drop what you are doing and go to a website to see the material - and then, typically, to go to another website to vote. So be sure to be on the watch for these "Notices" - and to follow through if you want to vote. Also, there will be information on how to assure that you will always get paper copies of the materials mailed to you if you insist - and as you have the right to do as a share owner. + +&#x200B; + +Always remember: **"VOTES HAVE VALUE"**....   Carl  + +&#x200B; + +🚨[Words of Action: “That’s an injustice in itself, that we’re letting hedge fund managers and speculators and gamblers run away with our electoral system, at the expense of our customers and our boosters and the people who keep us alive as a company? So I say ... you got to toughen up. “ -Carl Hagberg AMA ](https://www.reddit.com/r/Superstonk/comments/nb36ig/thats_an_injustice_in_itself_that_were_letting/?utm_source=share&amp;amp;amp;utm_medium=ios_app&amp;amp;amp;utm_name=iossmf) + +&#x200B; + +🚨🚨 [EDIT: Read the Full Transcript and Digest for Carl Hagberg’s AMA here!](https://www.reddit.com/r/Superstonk/comments/nce9kq/carl_hagberg_ama_transcriptsummary_12/?utm_source=share&amp;amp;amp;utm_medium=ios_app&amp;amp;amp;utm_name=iossmf) + +&#x200B; +Any random stranger on the Internet (me included) is telling you things out of their best interest, not yours. Don't listen to anyone who promises any kind of price change. No one knows. Be safe and don't follow hype and don't follow FUD either. + +Hopefully we can move on from these garbage technical analyses prevalent on this sub claiming $400 ether in 36.483 hours. I'm sure more than one person here has some kind of loss after the recent hype/pumping on this sub. Anyone who ONLY gives you tip on bullish moves and doesn't warn you about bear turns is being disingenuous at best, overtly manipulative at worst. + +edit: For the record, I'm a long-term ether bull. I bought some below $100 (if only I had swooped on that $20 ether or below...), then I bought more above $100, then I bought more at the ~$195 peak... now I'm going to buy more again soon. + +The point is, but when someone says "LAST CHANCE TO BUY $200 ETHER, BUY NOW" well just think about it... where do you think the price of ether is going long-term? If you're bullish on it, does it matter whether you buy at $195, or $208? + +If someone says the price is going to go up, critically analyze their reasoning before deciding to buy more. And if someone says the price is going to tank (and provides justification) - don't simply flame them or downvote, read their bear prediction critically, because guess what? That guy or gal's information could help you; if you find their reasoning sound, and the price does dip, that's a nice buying opportunity for you. +I recently got back on Reddit after a long hiatus - the volatility in Gamestop and other names brought me back to r/wallstreetbets and r/stocks. + +Lately I have been doing some research on Cathie Wood's Ark ETFs and am quite alarmed by what I am seeing. I am by no means an expert in finance, but I work in finance professionally. I spent 2 years on a long-short equity hedge fund in NYC right after college, and have worked in M&A for an asset management firm for the last 5.5 years. I am intimately aware of how active and passive (ETF) investment products function and acutely aware of the impact that investor fund flows can have on price and performance of an ETF. + +In the case of $ARKK and the family of ETFs, it is glaringly apparent to me that all of these ETFs in the last 12-14 months have become victims of their own success. What do I mean by this? + +We'll use $ARKK as an example. In the last 14 months, investors (and many of you) plowed money into $ARKK at a stunning rate - $10 billion in 2020, and another $5 billion in just the first two months of 2021. In conjunction with those investor flows, the Ark ETFs have developed what by any industry standard represent HUGE holdings in many of the portfolio companies, as high as 25-30% in dozens of cases. Many of these holdings are illiquid companies that don't trade significant volume on any given day. The combination of low liquidity, huge investor inflows into the ETF, and now enormous ownership stakes in the portfolio companies has had the effect of driving share prices higher. Much of the ETF's performance over the last 12-14 months is not a function of fundamental improvement of the portfolio companies, but a function of the ETF having to buy illiquid equity securities when inflows are positive. This may not be readily apparent to the untrained eye, but it is crystal clear for those with access to industry flow data. + +I ran an analysis on the weekly net flows into ARKK over the last 60 weeks, and found that portfolio performance of the ETF was highly correlated with ETF inflows. + +***Correlation of 70%*** + +***R-squared of 0.49*** + +That is to say, the tail is wagging the dog! ARKK has created its own good performance, but not because the companies have grown or fundamentally improved. Nearly entirely the result of the ETF buying. + +What happens next? + +Last week was a taste of the trouble ahead. When investors sell the ETF instead of buy, in order to cash out the investors the ETF must sell some of the stock in its portfolio companies, except that liquidity or lack of liquidity becomes a much bigger problem when investors are selling and when the broad equity/tech markets have a correction. + +The ARKK ETF price has appreciated nearly 350% in a very short time. Now that Cathie Wood represents a big chunk of the outstanding shares within companies that have become overvalued by almost all measures, and trade with very thin liquidity, any meaningful reversal in investor flows (out instead of in) will result in a cascading collapse of the Ark ETFs. If the fund can generate returns of 350% in roughly a year, just imagine what may happen if investors move toward the exits in a much shorter period of time. + +As someone who takes pride in my analytical work, and who is concerned about the limited investor knowledge of many people who own Cathie Wood's funds, I would strongly encourage you to do more research. Learn about the companies held by the ETFs. Try to educate yourselves on valuation methods. And please understand that unless you are willing to lose every dollar that you have invested with Ark, you should take some time to reflect on the risks you are taking. + +After spending a very short amount of time on this subreddit and others, I am concerned that many people may not be aware of these risks, and unfortunately the small investors in Cathie's funds will be the ones who bear the brunt of any crisis. + +As usual with Wall Street, the insiders like Cathie Wood will get huge payouts and the little guys will get to hold the bag. It is not widely known, but good food for thought that Cathie has sold a chunk of her company to American Beacon. In recent months there were changes to these ownership arrangements that are not publicly known. Whatever happens, Cathie Wood will be just fine, but the small investors may not be. + +Good luck and I hope I am wrong. + +***************** + +***Edit*** - for inquiring minds, the link below is a detailed and succinct overview of some of these concerns from a Fintwit personality. + +https://twitter.com/BradMunchen/status/1366028953828270082 + +***Edit*** - some have pushed back on the analysis and I appreciate the discussion, for additional thoughts on how some of these ETF products (and ETF's in general) can create distortions in the market, there are a few podcasts below that I found pretty worthwhile. + +https://www.zer0es.tv/interviews-and-analysis/the-perversion-of-passive-investment/ + +https://podcasts.apple.com/us/podcast/the-end-game-ep-3-mike-green/id1508585135?i=1000483139066 + +***Edit*** - some have suggested I re-create the analysis above on a number of more typical ETF products (great idea) to see if outcomes are similar. Some have also pushed back on the statistical significance of 70%/0.49. In finance if you can explain 49% of the variation using just one variable, it is pretty darn good. Not so good in physics or hard sciences. + +In any case, here goes... + +Background on methods and sources: Data comes from simfund, and the analysis is simple. We build a "roll forward" of the assets under management (AUM) for weekly flow data sets. An AUM roll forward is commonly found in the earnings presentations of all asset managers and is useful for understanding the sources of AUM growth in any given period. + +In this case: + +A: Beginning of period AUM <--- Sourced from Simfund + +B: +/- Net New Investor Flows <--- Sourced from Simfund + +C: +/- Market Performance <--- Implied by D less B less A + +D: End of Period AUM <--- Sourced from Simfund + + +In this way we can see how many dollars flow into a certain ETF over the period, and how many dollars of market gains in the underlying portfolio took place in the same period. Presumably these two values (B&C) would be more highly correlated when B is large and the underlying portfolio is less liquid - causing upward pressure on prices for structural reasons rather than fundamental reasons, i.e. driven by the ETF and not by growth or fundamental improvement in the portfolio companies, i.e. paying a higher multiple for the same stock for no good reason. + +I think my analysis stands... but open to more constructive criticism. + +********************** +***Output for Ark ETF's and compared with a number of other popular ETF's - Ticker: (correlation / r-sq)*** + +*n = 60 weeks of data, which we focus on here because Ark products have seen such outsized flows (and returns) over this period* + +***Ark ETFs*** +ARKQ: (69%/0.48) +ARKF: (64%/0.41) +ARKG: (42%/0.18) +ARKK: (70%/0.49) +ARKW: (70%/0.49) + +***Other Popular ETF's*** +SPY: (11%, 0.01) +QQQ: (27%, 0.07) +IWM: (20%, 0.04) +XLE: (27%, 0.07) +JETS: (21%, 0.04) + +*********************** + +***Edit*** - Criticism of this approach may be that I am using dollar changes in both flows and portfolio returns, rather than periodic percentage changes, however my view is that it is the magnitude of the dollar flows that matters more than percentages when trying to ascertain the impact of illiquidity and investor flows. + +***Edit*** - Worthy correction from u/notredwan - I was under the impression that American Beacon was in process on exercising its option to acquire a majority position in Ark as was originally agreed in 2016. Evidently that option was extinguished in December 2020 in a deal where Ark took on debt (and likely warrants) to pay off American Beacon on the option value. Back of the envelope math would have put the option value in the $100-150mm range. + +Reading here: https://www.institutionalinvestor.com/article/b1pw88ldyr905m/The-ARK-Invest-Takeover-Battle-Is-Over + +***Edit*** - An interesting easter egg in Ark's daily email update and associated disclosures. Quoting from the thread linked below. + +On Friday, February 26, ARK expanded its daily trade email disclaimer to 718 words compared to 163 words on Thursday, February 25. + +Two new disclaimers: + +"Additional risks of investing in ARK ETFs include market, management, concentration and non-diversification risks" + +"There can be no guarantee that an active trading market for ETF shares will develop or be maintained, or that their listing will continue..” + +https://twitter.com/StockJabber/status/1365891480884289541 +I’m dreaming of telling the corporate world to go to hell, and wondering how I can achieve this lofty goal. Seems like a boatload of money needed upfront to make 1k per week in dividend payout a reality. +So, from one smoothbrain to another. Apparently that [u/Atobitt](https://www.reddit.com/u/Atobitt/) thing with his GOD TIER DD "House of cards" made some folks very insecure. Fuck, even I was completely devastated yesterday when I read it. With huge efforts I got my first wrinkle after thinking this through. Since I am not a genius, but I still want to pollute the internet like any other moron with my uninformed, unasked opinion, here is what I came up with, in hopes of helping some of you to make the right decision. + +I try to keep this brief and explicitly declare theory, thesis, hypothesis and my own assumptions, opinions and moves, so you can easily distinguish between facts and opinions. + +&#x200B; + +**1. The GME-bet** + +* **Theory**: Supply and demand dictate price. +* **Thesis**: Gamestop stock has been shorted excessively. +* **Hypothesis**: When shorts have to be covered, the demand and therefore the price skyrockets. +* **My Move**: I buy Gamestop shares and hold them, until shorts are covering, to make big profits. + +We knew that already. But now we know, that we never owned any shares, we just owned IOUs. + +&#x200B; + +**2. The house of cards** + +* **Theory**: A corp (DTCC, DTC, Cede & Co., whoever, doesn't matter) is the actual owner of the share and just issues an IOU for all investors, which basically grants them the same rights the actual shareholder has (dividends, voting rights, etc.). +* **Thesis**: Supply and demand of the stock is heavily distorted. It's not about supply and demand of a share, it's about supply and demand of an IOU. The currupt system itself is manipulating the price. + +&#x200B; + +**3. Doubt and insecurity** + +* **Assumption of some comerades-in-arms** (read that today): "Yes, but if the DTCC is corrupt itself, hodling won't do anything!" + +I was yesterday at this exact same point. I thought long and hard about it, made up my mind and planned my next steps. It doesn't matter, if they shorted a stock, IOUs, bananas, clouds or paper clips, because... + +&#x200B; + +**4. Shorts must cover** + +* **Thesis**: **Shorts must cover.** +* **Hypothesis**: If shorts aren't covered, the american stock market loses any credibility and reputation worldwide. +* **Assumption**: Wallstreet can literally not afford the world stopping to trade with them. They will therefore cover their shorts. The question's only when. +* **Assumption / opinion** (even sub-bulletpoints): They stall / buy time to mitigate damage. They need to make precautions to avoid being utterly annihilated. This mitigation happens at multiple fronts. + * They use misinformation, threats, legal actions, shills and time to create panic and make as many shareholders as possible sell their shares. This reduces the number of shorts and therefore their losses. This is what we have seen every day for the last few months. + * But behind the scenes, there is something much bigger going on (Caution: put on your tinfoil hat)They move as much money as possible to safety and make it disappear (in Off-Shore-accounts, as cash, as gold or silver, etc.), so they don't have to cover the shorts with their own money. That's what insurance is for, right? Why should they liquidate all their assets, when insurance will take care of this? + * Moving such huge amounts of money requires time. I'm not talking about the time to complete transactions. That's one thing, but they need to destroy any evidence of that money. Invoices and documents that record why this money is gone, for what it was spent and where it is now. It's time consuming to bribe the right people, call the right numbers and partake in all those emergency-meetings. + +&#x200B; + +**5. What does this mean for us?** + +* **Opinion**: We won. Cannons fired. The enemy ship is sinking. The crew is running to the lifeboats like the rats they are. The most depressing thing? They will get away in those "lifeboats", their yachts, helicopters and private jets. They will stay rich and die rich. Maybe the american government will learn from this and prevent this in the future. +* **Thesis**: The squeeze will happen. Doesn't matter when. We will get our money from the insurance. +* **My Move** (as before): I buy Gamestop shares and hold them, until shorts are covered, to make big profits. + +&#x200B; + +Nothing changed. + +&#x200B; + +EDIT: typos and grammar +&#x200B; + +* FY 21-22 budget made an announcement that employee contribution to PF more than 2.5 lac a year would be taxed +* There has been no further info till end Aug +* On Aug 31, CBDT published a circular that amends the IT act +* It introduces a new 'taxable PF' account +* The current account would continue as non-taxable +* It would have the balance as of Mar 31, 2021, the interest on it, contributions in future years below 2.5 lac, interest on it, and so on +* The taxable account would have the amount above 2.5 lac, interest on it, etc. +* No word yet on how the tax would be done - yearly or on withdrawal +* The hint seems to be that the tax would be yearly - hopefully the tax would be deducted from the interest amount before being credited + +Official circular is here: [https://incometaxindia.gov.in/communications/notification/notification\_95\_2021.pdf](https://incometaxindia.gov.in/communications/notification/notification_95_2021.pdf) +As suggested in [this post](http://www.reddit.com/r/Economics/comments/aupwm/why_im_taking_reconomics_off_my_front_page/) this reddit has a number of problems - particularly pointless content. I need your help to improve it: + +As suggested by user MikePatton and others, I'm going to start by removing sensationalist content. + +To improve things, I need to know: + +a) What content do you generally WANT to see here (list topics / websites / etc) + +b) What content do you generally NOT WANT to see here (list topics / websites / etc) + +c) any tips on improving this reddit? + +Ultimately, the most helpful thing you can do is - **upmod what you like, downmod what you don't like, and report content that is not relevant / should not be here** + +You've learned to hold through dips that would only happen in the most brutal market crashes. From $450 to $40? First blood. From $260 to $120? From $300 to $135? From $250 to $90? Last blood. There are few investors that have been through these types of portfolio crashes in their lifetimes, and you did it in a year. If you held through this type of manipulation and these dips, more than likely you have the emotionless thousand *bar* stare. Your eyes are dead. Red bars, green bars, the sideways trading guy, the battle for $180, the ladder shorting, Ken Griffin's shit face, the elliott wave guy, the battle for $180, the dorito of doom, the hype days, the hurts again, the moass tomorrow, the battle for $180, the cycles... it doesn't matter anymore. They have accidentally created the navy seals, the SBS, the KSK, the SASR, the damn Snow Wolf Commando Unit of the stock market. With the option players turning into a Delta force. Together, GMErica has become an elite group of special op retarded ape investors that have been through emotional torture, psychological warfare, mind games, manipulation, computer algorithms designed to break your morale and spirit, and even the separation from your family and friends due the mainstream media's propaganda war against your investment choices. And you're still here. Not only are you still here, a lot of you, tired and exhausted, are still loading your ammo again and direct registering your shares. This sends the message to the hedge funds that you will die before you sell your shares for less than a phone number. There will never be investors like you again. + +&#x200B; + +Unfortunately at this point a lot of us suffer from post traumatic stock disorder and we'll never be the same. Sometimes we see a buy button, squint and rub our eyes, and the buy button is gone. Then it's back again. Are you losing it? Was that real? Is the price even real? It doesn't matter anymore. We're not leaving. But when this is over, and MOASS has happened, I've heard from some of you, you will be putting down your trading app and walking away forever. I hope not, because you will be missed. But if that is what you choose to do, it was a honor making my own individual choice and investing in a stock that I liked and that you happen to like and be invested in as well. + +&#x200B; + +Buy / Hold / DRS + +&#x200B; + +*For those of you that do stick around, you've seriously developed the skills, emotional detachment and control, knowledge, resolution, and a lot of attributes you'd need to become even more successful,* ***even*** *within this system. See you Monday.* +I will keep the background short and sweet: wife has 40k left in student loans and currently has a taxable brokerage that has appreciated to 40k. She currently pays 2x her minimum payment per month (400+400 towards principal). I have always recommended to keep her money invested in index funds rather that payoff the student loans (at 5.2%) since the market on average returns more. BUT at this point I think the market is pretty overheated so I my mind is exploring just cashing out and applying to the loans to become debt free..... Then start building the brokerage account back up. Curious what the groups thoughts are on this dilemma? +I posted recently about a weird iron condor I built on AMC: + +[https://www.reddit.com/r/thetagang/comments/o295rm/amc\_iron\_condor/?utm\_source=share&utm\_medium=web2x&context=3](https://www.reddit.com/r/thetagang/comments/o295rm/amc_iron_condor/?utm_source=share&utm_medium=web2x&context=3) + +I don't plan to make regular updates, because there isn't much to talk about while I wait. But some people asked me to update if I modified the position any, so posting again to do that. + +The original position had $3678.11 risk, and max payoff was about 15x that. Several commenters pointed out that I could probably manage the position to eliminate the risk entirely. + +On June 30th, it seemed like AMC had plateau'd and was slowly starting to decline. The short puts had declined from $17.89 to the high $11s, so I bought to close 10 contracts at $11.85: + +&#x200B; + +[Buy to close on 6\/30](https://preview.redd.it/uhi82xv03eb71.png?width=1630&format=png&auto=webp&s=2ed2bfe9992dbe13e0695489e6506e1bedcacadb) + +My bet was just that AMC would move down below $38 at some point between now and December, and I could re-sell them at a higher price. I set a limit order and waited. + +Yesterday was the day. Sold the 10 contracts for $15.65: + +&#x200B; + +[Sell to open again on 7\/14](https://preview.redd.it/58rfjc463eb71.png?width=1600&format=png&auto=webp&s=ad577563e3a06f248c2fd832ca30956f8abb4773) + +So now I have the same position, but I've collected $60,108.12 in premium on a $60k spread. My min gain is $108.12 and my max gain is $60k if I get lucky on the price. + +Optionstrat link with adjusted prices to reflect my actual fills: https://optionstrat.com/tUKjw78GEm +This guy does not get the respect he deserves. Every time someone talks about purchasing with bitcoins, everyone just says ‘I don’t wanna be like the guy who bought pizza with his bitcoins.’ Did anyone know bitcoin was going to be worth 60k 10 years ago? Fuck no. This guy normalized paying with bitcoin so other people could take it seriously, and here it is years later performing stronger than most fiat currencies. Satoshi nakamoto created bitcoin with the intention of replacing the centralized monetary system. Give the pizza lover the respect he deserves. +*(I posted this in the German sub and was asked to translate it for our american friends here in Superstonk. I put the original media screenshots in here for evidence reasons - I don't want this to look like a bullshit trust me bro fud theory. So I didn't just translate the articles. This way you can maybe put it in google translate and see the translation for yourself.)* + +After numerous banks/brokers made the dividend disappear on Friday night (coincidentally a few minutes before the end of the month/balancing cycle) some of us have speculated what or who might have been behind it. + +I have done a little research and see a dark common thread: **DWP Bank** + +What do they do? + +Deutsche WertpapierService Bank AG (security service bank) is the leading securities services provider in Germany. (quasi monopoly!) + +Customers? Pretty much EVERY German bank or broker: DKB, Sparkassen, Volksbanken, Degussa Bank, Santander, DZ Bank, Landesbanken. In total, more than1200 institutions in Germany use dwpbank as an outsourcing partner for securities services. + +As Germany's largest liquidator of securities, DWP Bank is an unknown giant - and systemically relevant for Bafin. The institution is in crisis. The problems are chronic, but not all homemade. + +&#x200B; + +**If anyone can tell us what happened yesterday, it's definitely DWP Bank.** + +The fact is that dwp executes the transactions in the custody account, (even the order forwarded to the trading center goes through dwp and the cost settlement and confirmation in your mailbox comes from dwp) they are responsible for the correct display of the custody account value, for the push messages in your broker app, for the letters in the inbox and the tax settlement and for share lending. + +The payment of the dividend on 22.07. happened with our German brokers within a few hours after close of trading. Only it wasn't a dividend but a split! In advance every broker - in emails, messages etc always talked about a SPLIT not a dividend (yes, also these notifications came from dwp, the individual bank's logo is only put on the letterhead). + +That was simply a completely wrong process! As we had suspected numerous times. + +Clearstream is indeed a direct partner of dwp - maybe they have a rule that every dividend is first booked as a split until the shares are there. + +However, I would find this very questionable, as it is simply a completely different corporate action. But that would explain why in Germany in the corporate data of GME displayed in our depots **the market cap amount was simply quartered(approx. 2,5 billion instead of 10 billion)**. + +**Because de facto only 1/4 of the real shares existed at 1/4 of the price and the split was only a fictitious booking in the depots by dwp.** + +&#x200B; + +So who is that unknown giant and what could POSSIBLY go wrong if literally every bank and broker in Germany uses and depends on one infrastructure and one service provider? (spoiler alert: a lot) + +&#x200B; + +[https:\/\/www.handelsblatt.com\/finanzen\/banken-versicherungen\/banken\/wertpapier-abwickler-dwp-bank-riese-mit-wachstumsschmerzen\/11314442.html](https://preview.redd.it/yvfypbm6ive91.png?width=1272&format=png&auto=webp&s=80fe764ae395be75491c5198c963acd7d9112d87) + +Translation: + +*Every year, around 20 million purchases and sales of securities are processed through the unknown giant with its roughly 1,500 employees. The figures are no miracle, because at least once a year the customers of the Volks- und Raiffeisenbanken, most of the savings banks and more than 30 private financial institutions receive a securities account statement from their bank. And this actually comes from the DWP Bank.* + +&#x200B; + +&#x200B; + +https://preview.redd.it/6lylur9uive91.png?width=1348&format=png&auto=webp&s=ec53d43a2349ee6547da75e01a81ad7910afba99 + +Translation: + +*The great unknown from Frankfurt manages 7.8 million customer accounts for other banks, six million of which are attributable to private investors. Since the number of shareholders in the country is just 8.6 million according to the latest survey by the Deutsches Aktieninstitut,* ***that makes for a 70 percent market share.*** *"Two thirds of all banks in Germany have outsourced their securities processing to us. That's more than 1,600 institutions. And every securities account holder receives mail from us at least once a year without realizing it."* + +&#x200B; + +[https:\/\/www.dwpbank.de\/presse\/wachstum-im-vierten-quartal-2021-rundet-starkes-gesamtjahr-ab\/](https://preview.redd.it/lnd1fel9kve91.png?width=1720&format=png&auto=webp&s=cbc026212995e179bc30ab764b027792a75f123f) + +# Total Assets under custody by dwp-bank: 2,13 trillion € (German billion is US trillion) + +&#x200B; + +&#x200B; + +In 2020 (and afterwards), there were numerous broker/online banking failures. No one in Germany was able to trade securities, access their securities account or execute transfers anymore. Especially during the days in March when the indices posted strong gains of 7-11%. + +**Yes, that was the DWP Bank's fault!** + +&#x200B; + +[https:\/\/www.handelsblatt.com\/finanzen\/banken-versicherungen\/banken\/onlinebanking-it-panne-legte-wertpapierhandel-bei-1288-banken-lahm\/25396868.html](https://preview.redd.it/7jht1hjgkve91.png?width=1950&format=png&auto=webp&s=2dd9928dd89c52b0f5408728df0923f55be5d222) + +Translation: *IT glitch knocks out securities trading at 1288 banks* + +*The outage affected all Volksbanks, many savings banks and other institutions on Monday. The responsible DWP Bank speaks of defects in data records.* + +&#x200B; + +That can happen from time to time, right? + +It can also happen more often and no one is looking? + +&#x200B; + +[https:\/\/finanz-szene.de\/digital-banking\/das-online-brokerage-der-dkb-geht-erneut-in-die-knie\/](https://preview.redd.it/765sb6bwkve91.png?width=1368&format=png&auto=webp&s=3e9a71c7476d1a675647d2f0e3b685a6425db642) + +Translation: *DKB's online brokerage goes down again* + +*The problem had already occurred on Friday, but was then temporarily solved. The error lay in each case with the technical service provider of DKB, namely DWP Bank.* + +*It was not possible to determine what exactly caused the disruptions in the securities accounts on Friday and Tuesday. On Friday, a DWP spokesperson told us that they did not yet know the specific cause, but could say with a high degree of certainty "that it had nothing to do with the number of order requests from our customers".* + +*For customers, the failures are extremely annoying due to the enormous volatilities on the capital market. Last Friday, the Dax fluctuated in a range of 6.5 percentage points; yesterday, Tuesday, it was down 11%.* + +&#x200B; + +[https:\/\/www.br.de\/nachrichten\/wirtschaft\/vermoegensschutz-teil-3-wertpapiere-und-digital-banking,RyCcua0](https://preview.redd.it/jzojmsbylve91.png?width=1536&format=png&auto=webp&s=ab02eb658f6c629407aa871d584845fefc21fe6a) + +Translation: + +*At the beginning of 2020, online trading in contracts for difference collapsed at Comdirect, Flatex and S-Broker. At DKB, the direct bank of BayernLB, nothing worked at all in the first week of January - just like large parts of the entire securities trading in Germany. An external service provider was to blame. It is hardly known that relatively small companies, such as Deutsche WertpapierServicebank (DWP Bank),* ***have a kind of monopoly on the digital infrastructure that is used to handle the majority of securities trading in Germany****.* + +&#x200B; + +Long story short: + +I absolutely did not know that in the background of literally ALL German banks/brokers sits another, external institution, which takes over the whole securities purchases/ transfers /settlement/ communication/ taxation/ loaning. *Which at the same time also has a quasi monopoly position, is system-relevant and can regularly paralyze the entire German securities trading ?!* + +I think we should take a closer look at the DWP Bank and maybe someone of you has more info about it. + +Twitter account of the dwp-bank: dwpbank (ridiculous 300 followers for a bank that handles every MF securities trade in Germany?!) + +(There are only 2 tweets about dwp-bank and the dividend fail. As I would like to contact their press and media department to get a comment it would be helpful if a few of you apes would put a tweet out there mentioning (at)dwpbank ) +Hey guys, I‘ve already invested a bit, mainly 4k into VT, 500 each into AAPL, NVDA, AMD and PLTR and another 200 into AMD. + +Now I just stumbled upon this subreddit and was wondering what your top 5 stocks/ETFs are that pay out a lot of dividends. Cause I don‘t know too much about the dividends side of stocks I just invested in Companys I believe in. +https://www.google.com/amp/s/www.moneycontrol.com/news/business/economy/why-were-tax-collections-at-record-highs-from-us-to-uk-to-india-despite-weak-economic-recovery-8369511.html/amp + +Here are some specific things I didn't understand: +- "the past half year has seen rising inflation and inflation always elevates the nominal parameters. High product prices led to super normal profits for metal companies, as also for other product companies that could pass on price hikes. Also, customs duty collections in many countries, including India, rose as the nominal value of the imports rose." What does 'nominal parameters' mean? Why does inflation increase tax collection? Shouldn't it be the other way round? If there is more inflation the middle class man needs more money to spend, so tax collections should be less right? +- "Thirdly, huge stimuli from many governments like US, UK, EU and Japan led to a pick up in global trade in 2021. India, too, reported record exports of $418 billion in FY22, as also record imports of $610billion. Both push up the entire ecosystem of manufacturing to result in higher tax collection." Shouldn't this mean that trade is strong and the economy is doing good? Hence removing burden from tax payer? Or does this refer to tax collections from customs? +I am in the early stages of exploring the idea of selling my rental. I have owned this property since 2005 and have been renting it to the same tenants for nearly 9 years. They are currently month-to-month (60 day notice if they don't wish to renew) When should I involve them to let them know my intentions? I am not certain I will sell but I am considering it. It doesn't seem right to spring this on them at the last minute after a decision has been made and I'm getting ready to list. This would be the first time I've sold a property with tenants so I'm inexperienced in this regard. +I had a jaw-drop moment earlier today when I was just randomly thinking about how awesome it is that this sub converted a whale. I was looking at the beta NFT website. They had a section for "What is an NFT" that gave some good detail, and I always wondered why they included the words "real estate". At the time it made my nips quartz because of the possibility of turning a home into an NFT. After giving it some more thought it now makes them certified de Beers diamonds. + +Apes, Pulte work/ed/s in Real Estate. My first house was a Pulte house in Virginia. They have Real Estate all over the country. Can you imagine a better partner for bringing NFTs into Real Estate than a fellow ape WHALE? Yes I know an Ape-whale isn't a real species. Can you imagine the pure, 100LL fuel it would pour on the fire to have a real estate giant like Pulte come out and say "We're going to be hand-in-hand with GameStop to help blockchain the real-estate world". That right there is headlines all over the world... + +...and I think we all missed it until now. +To be honest, this makes me sad. + +As far as I remember, Bitcoin was thought to be the solution of the fact that institutions, wall street and big money control the financial world and the pennies of the simple people from the normal population. And it was more or less like this, in the first several years after the inception of Bitcoin. We saw so much price discovery, Bitcoin being volatile, because mere mortals like us were buying, hodling, selling, wondering how much the *real* price of this asset is. It was literally supply and demand, controlled only by the psychology and the individual decisions of every single one of us. + +What do we see nowadays? We go to bed, we wake up and we see that Bitcoin is at -10% for no reason. Literally for no reason. Neither me or you have sold. We were just sleeping. What happens? Bitcoin is strongly tied to the trading algorithms of insitutions and they handle it the same way they handle stocks. If the stock market is supposed to move down, bitcoin and crypto in general follows instantly in a nanosecond. We are not in control anymore. It doesn't matter if we buy or sell. + +During the last few years, we welcomed institutional interest and we cheered. Now I realize that they have much more power than us and the situation is the same as it has ever been - big money controls the pennies, or in this case the satoshis, of us - the simple people. + +It makes me sad, but in the end, this is an open and free market. Everybody has the right to buy, sell or hold as much as he or she wants. In this case, it just happens so that the big players choose to be massively invested in crypto, which gives us the spot on the sidelines - sit and observe how the price fluctuates, without being able to react on our own. + +EDIT: I agree with a lot of you guys and girls. The same way sometimes we go to bed, wake up and see that Bitcoin is +15%. In those green days, nobody complains about it. What concerns me in overall is how tied the price movement of crypto assets to the price movement traditional assets is. I am not sure if this is an issue to be concerned about. However, it's a fact and I feel the necessity to talk about it and discuss it's impact. + +EDIT 2: wow, thanks for the amazing discussion! I appreciate that so many people participate in it and share their view on the topic. +I just received new communication from RBC yesterday that they're getting rid of automatic investing and changing their commission fees. When I looked over the new commissions, I was shocked to see on the fee schedule that they're now charging a 1% fee on any mutual fund purchases or switches (maximum 50 dollars). + +This new fee seems insane in this day and age. Why the heck are they increasing their trading fee while everyone else is lowering them? What's next? Back to 30 dollars a trade? I like RBC, but they're making it very hard not to switch to a discount broker. +EDIT BELOW RECAPPING (FAIR) CRTICS OF WEEKLIES: + +I mostly wheel and/or sell CCs on core holdings. + +I used to open at 30-45 days and close at 50-60% profit. + +In last few months, i switched mostly to weeklies - 30-35 deltas on wheeling and 20 deltas on CC + +I put on the trades on Mondays. I generally avoid weekends, unless big gap up/down on Fridays. + +Fav stocks: TSLA, PLTR, RBLX, SQ, LMND + +I can't say for sure if am performing better - will need to give till yr end for full assessment. But i feel that it has avoided me some short term accidents - and i sleep better on weekends :-) + +Anyone else adjusted their DTEs? + +EDIT BELOW RECAPPING SOME (FAIR) CRTICS OF WEEKLIES: + +First the math, the Greek "purists" in here are 100% correct: shorter DTE doesn't mean less risk: + +1. Weeklies allow you to collect premium faster, but you collect less than monthlies, and the risk of making nothing is higher due to max gamma risk. +2. Shorter DTE means less time to recover from a trade that goes against you and you have less buffer (lower premium) to absorb any shock. + +But there is also the psychology/bias part: + +1. Reducing DTE (for me) means that my mindset is tilting more towards "risk off" mode. This causes me to put on less trades, lower my deltas, and close trades faster +2. Mentally, I find it easier to do this with weeklies - with monthlies, my bias is to do more trades, increase deltas, keep trades open longer, which is exactly what I wish to avoid. +3. Its harder to close a monthly when you see the premium you're leaving on the table, even if in absolute terms, you may be making more $$$ than on your weekly. + +It's as though the right data (longer DTE is less risky) will bring out the wrong temperament (you get greedier when you actually want to be more conservative). + +I realize the contradictions here. But trading is like that sometimes. Better to understand these contradictions and work on them than to ignore them. +I looked at ~~10~~ ~~numerous~~ all filings on SEC's EDGAR database to see if any other company mentioned the number of directly registered shares. GameStop is ~~the only one~~ one of three companies who have opted to do this in the entire history of EDGAR database. This is the first time GameStop mentioned the number of DRSed shares. + +**New exciting stuff that I just found** + +*There is a company named HEARTLAND FINANCIAL USA INC (HTLF, HTLFP) that mentioned the portion of its total outstanding shares that was direct registered. As of December 31, 2011, approximately 21% of Heartland’s outstanding common stock was directly registered in the name of our employees, officers, and directors. This percentage decreased to 20% as of December 31, 2012. This information can be found in their 10-K forms from the relevant years.* + +*There is another company named APPLIED MATERIALS INC /DE (AMAT) that mentioned the number of accounts in the DRS system. This is not as informative, but nevertheless a useful datapoint. Below are the number of direct registered accounts as of a particular end date.* + +End Dates | Approximate number of accounts +---------|--------- +December 23, 2001 | 6,671 +December 20, 2002 | 6,977 +December 26, 2003 | 6,995 +November 28, 2004 | 6,719 +November 27, 2005 | 6,254 +November 26, 2006 | 5,786 +November 27, 2007 | 5,369 +November 21, 2008 | 5,031 +November 20, 2009 | 4,641 + +**How to perform the search?** +My search parameters are mentioned below. ~~It would be nice if other apes can broaden the search space.~~ I scanned through the entire database so this task has been fully taken care of. + +Document word or phrase: "directly registered" + +Company name, ticker, CIK number or individual's name: *leave this blank* + +Filing types: select 10-K (yearly filings) and 10-Q (quarterly filings) + +Filed date range: last year + +Remaining fields: DEFAULT + +Link to repeat the search: +https://www.sec.gov/edgar/search/?r=el#/q=%2522directly%2520registered%2522&dateRange=1y&category=custom&forms=10-K%252C10-Q + +Running this search gives you a list of all relevant filings. Clicking on any filing will open a pop-up window and the webpage will automatically take you to the relevant keyword. Then it's just a matter of scanning the surrounding sentences. + +Edit: For some reason reddit just trimmed half of my post. I had to retype all this again. Inserting 741 (=19x3x17) rocket emojis because why not? + +🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀 + +🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀 + +🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀 + +🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀 + +🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀 + +🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀 + +🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀 + +🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀 + +🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀 + +🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀 + +🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀 + +🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀 + +🚀🚀🚀🚀🚀🚀🚀🚀���🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀 + +🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀 + +🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀 + +🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀 + +🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀 + +🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀 + +🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀 + +🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀 + +🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀 + +🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀 + +🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀 + +🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀 + +🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀 + +🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀 + +🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀 + +🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀 + +🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀 + +🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀 + +🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀 + +🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀 + +🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀 + +🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀 + +🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀 + +🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀 + +🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀 + +🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀 + +🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀 +Everyone has been going crazy about Gamestop's NFT marketplace, Loopring's Q4 partnership announcement with a "premium" partner and all of this has been happening while the world is shifting their consensus about crypto. Many of you don't realize it but congress had a meeting not long ago for the sole purpose of mass adopting crypto into the financial system. Crypto is coming. Companies are beginning to realize this. Elon Musk's crypto pumps earlier this year were just a signal for the much less vocal parties adapting the same thing. He wants to be the one who said, "Well I told you." because he's a degen. + +Anyway, it's very possible that the Loopring Q4 report "worth 10 quarterly reports" is based around multiple companies adapting crypto. The reason Gamestop is so heavily involved is simply because of Matt Finestone who was basically the bridge between the two. + +Lamborghini tweeting to the moon and "soon" **on the SAME day LRC announced fiat ramp and wallet** is fucking crazy. What has been the theme around meme stocks and crypto for the past few years? "Lambo or ramen" Something big is coming to the crypto world and that world being bridged by Gamestop and LRC is a beautiful thing to be apart of. + +I don't believe Gamestop is partnering with just Loopring. They are going to be partnering with a number of companies and they're all going to be coming together thanks to blockchain. + +#EDIT + +For those that don't know, LRC is not a coin, it's a token. + +* Company ABC comes in and says, "I want to be able to earn BTC in my store" +* Loopring says mkay: +* Customer swipes their card-> debit card(cash) -> LRC -> BTC + +The customer did not own BTC or LRC. However, the store just received BTC for the customer's CASH purchase thanks to LRC's protocol. + +(someone correct me if I'm wrong) + +#EDIT2 + +> Utility tokens offer the right to a service or product +> A utility token has a wider functionality than a coin. Utility tokens do have value, but they cannot be considered money as straightforward as a coin. +> +> Utility tokens can provide value to investors in different ways. They give users access to a future product or service. +> +> Typically, a tech startup develops a digital product or service and initiates an ICO (Initial Coin Offering). During the ICO, the company sells utility tokens. Investors can buy these tokens and use them as a means of payment on the platform developed by the issuing company. +> +> A Uber token, for example, could be used to pay for a ride with a Uber car. But not for anything else. If you wanted to use the Uber token to buy another product or service, you would first have to exchange it against either fiat money or a crypto-coin such as bitcoin. +> +> In practice, the use of these terminologies is not as sharp and clear-cut. The terms “coin” and “token” are often used synonymously. The blockchain industry is still young, so the language will evolve over time. However, most industry insiders agree on the broad distinction that a coin is cash and a token is basically everything else. +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! + +Restaurant Brands International Inc. saw the pandemic take a big bite out of earnings last quarter, with sales down 31 per cent year over year despite a rebound during the past month as commuters return to the roads. + +The absence of morning coffee consumers and afternoon snack seekers for much of the second quarter pushed down profits at the parent of Tim Hortons and Burger King by 37 per cent compared with a year earlier, the company said. + +“The pandemic has had an especially pronounced impact on routine-based visits, including on the morning commute and afternoon snack occasions, which each represent a significant part of our business,” RBI chief executive Jose Cil said on a conference call with analysts Thursday. + +Nonetheless, system-wide sales have climbed back to 90 per cent of their pre-COVID-19 levels, he said. + +Most RBI locations in Canada and the U.S. remained open during the outbreak, but the company shifted heavily toward drive-thru and delivery as patrons shied away from bricks-and-mortar locations and dining areas became no-go zones. + +Drive-thru sales - some 12,000 of RBI's roughly 15,000 storefronts in Canada and the U.S. sport drive-thru windows - rose at least 10 per cent at Tim Hortons by June, 20 per cent at Burger King, 100 per cent at Popeyes, mitigating the larger revenue plunge. + +The company has added nearly 3,000 more restaurants to its delivery network in Canada and the U.S. since February, bringing the total to nearly 10,000. + +In spite of the boost in off-premise service, the pandemic drove a steep revenue decline at RBI's two biggest brands, with sales at Tim Hortons and Burger King shrinking by one-third and one-quarter, respectively. + +“It's been a tremendous challenge for folks in our company, at the headquarters as well as our franchisees and the folks in the restaurants that are working every day to service through drive-thru and delivery,” Cil said in an interview. + +A sales surge at Popeyes helped soften the blow, and RBI said virtually all 27,000 restaurants across the three brands are now open again. + +Net income fell to US$163 million in the quarter ended June 30, down from US$257 million a year earlier, RBI said. + +The Toronto-based company, which reports in U.S. dollars, said revenues fell 25 per cent last quarter to $1.05 billion from $1.4 billion in the previous year. + +On an adjusted basis, diluted earnings plunged to 33 cents per share from 71 cents per share, nonetheless exceeding analysts' expectations of 31 cents per share, according to financial markets data firm Refinitiv. + +https://www.bnnbloomberg.ca/tim-hortons-sales-fall-by-one-third-as-rbi-feels-the-pain-of-pandemic-1.1476390 + **$TKING** is the first celebrity token launched on the Ethereum Network that is fully endorsed & promoted by Joe Exotic, himself- the famous Tiger King of Netflix. **$TKING** just accomplished their first **2X**, and with **Season 2 of Tiger King set to drop on Netflix, November 17th, 2021- they are expected to X more than just twice!** + +**Featured in:** + +Forbes + +Newsweek + +Nasdaq + +BitcoinNews + +Fox + +Business + +TMZ + +*Real working products:* + +📬 **ChainChat** (public beta) - The first truly anonymous wallet-to-wallet blockchain communication app, with escrow service integration for private NFT sales. + +⬆️ **Etherlift** \- *EtherLIFT* is a gas fee sponsorship application that bridges the gap between advertisers and cryptocurrency. After completing a transaction, users can watch ads in return for credits that can be used for ETH, NFT's, or discount codes for products from affiliated brands. $TKING will be partnering with EtherLIFT to expand its outreach + +🐾 **TigerTracks** \- *TigerTracks Blockchain* is a graphical representation of the data objects contained within the blockchain. Featuring a navigable exploding cloud- map diagram, the user will gain the ability to visually track and explore transactions, holdings, and interactions on the blockchain. + +🕹 **Gamepad** \- *Tiger King Coin Gamepad* is a gaming ecosystem made exclusively for $TKING holders. A series of games allows for players to bet their $TKING tokens & face off against each other in exchange for winning the Prize Pots & NFT's. + +**Tokenomics:** + +💰 900 billion token supply + +🔥 189 billion initial burn + +🔄 711 billion circulating supply + +♾ Available on Uniswap & Bibox + +**Socials:** + +🌐 Web: [tiger-king.org](https://tiger-king.org/) + +📨 Telegram: [https://t.me/theTigerKingOfficial](https://t.me/theTigerKingOfficial) + +🐣Twitter: @ Tiger\_King\_Coin + +📷 Instagram: TigerKing.coin + +👽 Reddit: [r/TigerKingCoin](https://www.reddit.com/r/TigerKingCoin/) + +👾Discord: [Discord.gg/tking](https://discord.gg/tking) + +✉️ChainChat: [chainchat.app](https://chainchat.app/) +I would roll my eyes at this post so trust me I know it sounds ridiculous. + +I’ve recently moved jobs from a ~£28k salary to a £35k salary + commission. When I was offered the job, I immediately accepted because the 7k jump alone far outstripped the 3% pay rise I was getting at my old company. Anyway, long story short in my excitement of the offer, I obviously didn’t take the time to do the maths on the apparently incredibly generous commission scheme this company offers. + +I’ve just received my first pay cheque and my commission alone has more than doubled my expected monthly take home AFTER tax. At first I thought it was a mistake but after reading through my contract again and doing some sums - everything checks out! + +After having (in my opinion) a nonchalant conversation with my line manager, she expects me to rather easily have a pre-tax income of ~£80k a year. I know this isn’t guaranteed and I’ll have to work for it but after having an average first month, I’m seemingly on track! + +So, I still live at home (I’m a Londoner) and am pretty good at saving, even at my old job i’d spend less than a grand a month including “rent”. + +But that seems bonkers considering, right? + +So what are the things I need to do to keep myself financially savvy in this situation? +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). +Update: + +I have 3 jobs and I love them all. I work at a marketing agency on salary with lunch breaks however long I please from 9-5, a pizza joint that treats employees well and gives me free food from 6-11pm or 6pm-12am and weekends, and I deliver food while listening to music in my car with doordash. I also do some freelance marketing and have recently started a blog. + +I have 3 kids and I’m saving 40% of my income for FIRE. I know I will achieve FI at some point but I may or may not achieve the RE part since my combined jobs yield me about $70,000 a year and my wife stays at home. I am considering lean options on housing to save more, but I don’t hate work either. I believe her objection is related to having a smaller dwelling, and I am not sure if it’s worth having a smaller home with kids around. + +Thank you all for the great reasons to FIRE!! +Edit: You're god damn right autists we won't let the stock market get Ajit Pai'ed! + +'The SEC has awarded more than $738 million to 134 individuals since issuing its first award in 2012.  All payments are made out of an investor protection fund established by Congress that is financed entirely through monetary sanctions paid to the SEC by securities law violators.  No money has been taken or withheld from harmed investors to pay whistleblower awards. Whistleblowers may be eligible for an award when they voluntarily provide the SEC with original, timely, and credible information that leads to a successful enforcement action. Whistleblower awards can range from 10 to 30 percent of the money collected when the monetary sanctions exceed $1 million.' + +See [sec.gov/whistleblower](https://sec.gov/whistleblower) for more information +**Spread sheet contains:** + +REITs separated by sector. Sectors include: retail (O), industrial (STAG, DRE, PLD), specialty (ACC, IIPR), cell tower (AMT, CCI, SBAC), self storage (EXR, PSA, CUBE, NSA), and diversified (WPC). + +Extensive financials for 14 of the most popular REITs. All financial information has been pulled from yahoo finance as of 3/11/22 and each REITs 2021 4th quarter financial releases. + +Backtesting was done both with and without DRIP. + +Winners were picked based on the following: financial stability, dividend increases as well as ability to support dividend increases, how REIT compares to others in its sector as well as how the sector compares overall to other REITS, likelihood of price appreciation/growth. + +**Overall, what I found was:** + +As you probably expected, O is the best overall value. + +STAG was the best in the industrial sector, which is a stable and growing sector due to increasing e-commerce. + +AMT and CCI tied for cell towers, although I tend to think both are overbought and favor CCI myself. + +EXR was the best in the self storage sector, although the overall dividend in this sector is lower than other sectors. Furthermore this sector is threatened by an economic downturn (people buying less and getting rid of / selling extra things). + +IIPR was the best specialty REIT in a growing (excuse the pun) sector, and is protected by a large regulatory MOAT and stabilized by long lease terms. + +Link to spreadsheet: [https://docs.google.com/spreadsheets/d/e/2PACX-1vSk-bWJcKG3a6K0hfHeNtTvlvIJLN-\_XK3tQPnDZn2MAQ1oRcVyWXR5q0xxlNmihBHWfha1YPl59XEG/pubhtml](https://docs.google.com/spreadsheets/d/e/2PACX-1vSk-bWJcKG3a6K0hfHeNtTvlvIJLN-_XK3tQPnDZn2MAQ1oRcVyWXR5q0xxlNmihBHWfha1YPl59XEG/pubhtml) + +&#x200B; + +Feedback welcome! + +&#x200B; + +Edit: spelling, readability, and link +#**v2.5 now released - see inside sheet for details.** + +Hi all, + +I'm a big believer in community resources and receiving feedback to make them better and better for everyone, so after a year of work I'm releasing my automated Google Sheet to track your *entire* Networth live and month to month. I'm a *massive* Google Sheets geek. + +Link - https://docs.google.com/spreadsheets/d/1tRJzUsKBNE_JoSTiMLT0-V5zk3cwGW3lpnpboot0IGI/edit?usp=sharing + +After following AusFireBugs template I felt it didn't capture enough and that there was so much opportunity for automation, and so I made a template that makes it easy for you. + +Features: + +- Captures all parts of your financial position (property, Stocks, ETF’s, Dividends, Super etc.) + + +- Live ETF/Dividend/Crypto prices + +- The cool stuff: Automatically optimizes when & what ETF’s to buy, sends you an email when it’s purchase day and puts an entry in your Google Calender. The logic is the same as https://investcalc.github.io/ but built directly into the sheet. + +- Automatically copies your entire financial position when you save your monthly progress. This is great for watching your networth grow! + +- Emails you each month showing you how each of your assets/total NW have progressed. + +- Automatic budget that feeds into your ETF purchases & automates your monthly bank transfers. + +- Helps you keep track of all your Savings Rates giving you a sense of progression + +- Keeps track of all returns from Stocks/Dividends helping you see what’s working + +- Keeps track of your Side income & Super growth. + +- And a whole bunch of other features, *give the sheet a look to see!* + +Essentially this sheet only requires you to update a few values each month and will automatically keep track of the rest through a variety of formulas and scripts that run behind the scenes. I’ve used this sheet myself for quite a while, but the Property section is new so there might be a few bugs there. Feel free to audit the scripts yourself with Tools -> Script Editor. + +Upcoming features: + + - Weekly/2-week Pay support + + - Pocketbook parsing through CSV to help planned vs actual with budgetting + + - Leveraged investments + + - Tracking for partners + + - Better mortgage/investment optimization + + - Better debt management + + - Better Tax support + +**This Sheet took a long while to put together, so please consider sending me a small donation (even to cover Coffee!) via the donation link in the sheet. Thanks!** + +Disclaimer: This was made as a hobby and has not taken your unique circumstances into account. You should consider seeking independent legal, financial, taxation or other advice to check how information & outputs from this sheet relates to your unique circumstances. + +Please help me improve this sheet and give me feedback! I’d love to make this a better resource for all so let me know what you think. Feel free to share with others! +You're exposing some deep deep shit. Please stay safe brother . The elite don't like dirt uncovered. + +Other people that have uncovered information in the past have been at great risk of loosing their life or have gone "missing" + +Please please stay safe. Take great security measures now. + +Thank you for everything you do . +Much love from a fellow ape ✊🦍👐💎👐💎👐💎 + +*Edit* this was not meant to spread any fud . It definitely got more traction than expected and was just trying to be appreciative and show some care. +After almost a decade in the industry I decided around a year ago to become a trainee financial adviser. There's nothing like a market crash and global pandemic for a baptism of fire. My three main observations from the past year are:- + +Firstly, phone your loved ones. I've heard about the loneliness epidemic before but the past year has really shown me the harsh reality of the situation. Obviously I don't know the ins and outs of family dynamics but I've spoken with some lovely people who had only fleeting contact with their family even before the lockdowns started. It's made me incredibly conscious that my meeting with them may be the only real human contact they have that month so I try to keep the conversation going for as long as possible (not that many of them need much encouragement). Pick up the phone and get in touch with your parents, your grandparents, your siblings, your friends and any other loved ones you have. + +Secondly, your outlook on life will change. There's quite a few posters here who feel guilty about spending money as they compulsively build up their savings and investments. I've noticed this in my clients, I spend far more time than I thought I would encouraging people to take some of the profits out of their investments for a holiday or home improvements they're on the fence about, but a switch will go off in their sixties and seventies when confronted with their own mortality; usually it's a health scare or the news of childhood friends dying that is the trigger. My question to you is do you really want to wait that long before you start to enjoy the fruits of your efforts? You save up all your life to be able to afford holidays like a road trip around North America but there's no guarantee at that age your health will be up to it or even that your husband/wife that you planned a long retirement with will still be alive. It happens more than you think. Don't forget to enjoy life now. + +Lastly, show your kids the flowchart. Show everyone the flowchart. The level of financial knowledge in this country is shockingly low. In all honesty, I'd rather my job didn't actually exist and people were able to manage their financial plans themselves but unfortunately we're not in that position so I'm here to do my best to help them out. +Time is my most scarce resource, I think I could have 48 hours in a day and it would still not be enough! Interested in hearing about how you “buy time.” + +Some things we do: +- nannies +- housekeeper +- gardener +- pool service +- grocery delivery 2x a week +- home cooked meals delivery + +Some seasonal things we do: +- window cleaning +- gutter cleaning +- handyman +- sprinkler service +- tree trimming + +Adding it all up, we’re probably buying at least 100 hours a week back and still don’t have enough time! We’re considering a household assistant hire to manage all of the above. Please give me ideas for how you buy time! +I'm sure everyone has noticed by now, but what's with all the daily spam comments about market manipulation? + +Seems like it takes up half of the daily discussions. Wonder if it's because the markets stopped only going up. +**\*\*\*\*\*\*\*\*\* I am not a financial advisor, this is not financial advice \*\*\*\*\*\*\*\*\*\*** + +Salutations, apes. + +https://preview.redd.it/b38sk0hf2yw61.jpg?width=1200&format=pjpg&auto=webp&s=1ea3c93becde0c24de8af8437b60b9974b47c6a7 + +Last night, as I was listening to Carly Rae Jepson's smash hit "Azz & Tittiez" in my race care bed, a thought came to me: hedies r fuk. Then I woke up to my wife yelling at me to pay her boyfriend's rent. I immediately apologized to both of them and bought him flowers and chocolates so he knows that I care about him. This DD isn't going to relate to GME's chart or FTD cycles directly, instead, it's going to be an explanation of why institutions are willing to take these risky bets on GME and other securities and how it affects us. + +Since I've been active on GME-related subreddits I have commonly heard the phrase "(insert institution) hasn't learned from (1987, Dot Com bubble, 2008, January squeeze, etc.)." I am here today to give my reasoning on why that is not the case. The people that run these institutions went to some of the top universities in the world, have a ridiculous amount of experience, and have almost unlimited resources at their hands. Though we hate them, they are undoubtedly very smart people. So, the idea that they haven't learned from past mistakes is not correct in my opinion. Instead, they understand that taking an astronomical risk in the American financial system can lead to big rewards. Even if this astronomical risk goes completely tits up and leads to bankruptcy, the system is set up in a way that the big players in the institution do not lose much money, are not prosecuted, and have ample opportunity to set up other firms/institutions after a previous one fails. The only people who lose in these situations are the investors. Here, I will be documenting case studies of large institutions failing and showing how the people at the top of those institutions came out completely fine and were able to continue making money despite failing. Therefore, the idea that they haven't learned from their mistakes is incorrect. Instead, the consequences associated with failing on Wallstreet are so insignificant that it makes complete and total sense for any large institution to take an astronomical level of risk because they know that the money machine allows them to just move on somewhere else and keep pumping money. Below are the case studies. + +**1. Bill Hwang - Tiger Asia Management** + +By now, we all know who Bill Hwang is. What many don't know, however, is where he started. Hwang started at Tiger Management, a huge and successful firm. Hwang was one of the most successful "Tiger Cubs" to come out of that institution and went on to start Tiger Asia Management. Hwang took heavy losses due to the 2008 crisis and was convicted of Insider trading in 2012, which forced the fund to close. He was banned from having outside money for investment. He then started Archegos, a family office. Despite being a convicted felon and insider trader, Hwang was able to get an insane amount of leverage from multiple prime brokers. We all know that eventually these bets turned bad and he got margin called. The man is still a multi-billionaire and there is no indication that he will be charged again. + +**2. Steve Cohen - SAC** + +Many of you might also know of Steve Cohen, who currently runs Point 72, which gave Melvin a $2 Billion infusion to save it from the GME January squeeze. Many people speculate that he was the inspiration behind Bobby Axelrod in the show "Billions," which is an absolutely amazing show that you should watch, because of his dealings in SAC Capital. Cohen ran SAC capital since 1992 and grew it into a multi billion dollar institution. He was known for extremely aggressive, borderline illegal trading activity that netted him insane returns. In 2013, the firm pleaded guilty to insider trading. From this, Point 72 was founded. Cohen's net worth has increased significantly in the past decade. + +**3. John Meriwether - LTCM** + +Long Term Capital Management, LTCM, was one of the most successful institutions in the 1990's. Founded by multiple award-winning economists, the fund had an ingenious strategy to trade on bond arbitrage. The firm was able to take out over 100x (I'm not even kidding) leverage because their strategy was so risk free. The only thing that could destroy this strategy would be an international bond crisis, which was extremely unlikely. Enter the Russian Bond crisis in the 1990's. This made the firm go tits up. Because of the insane amount of leverage they had, the FED had to bail out this firm because it could've started a global financial implosion (think Archegos but about 1000x bigger). The firm went defunct in 1997. Their CEO was John Meriwether. Where is he now? He has since started two HFs: JWM partners and JM Advisors. He still makes millions every year. + +**4. Dick Fold (lol) - Lehman Brothers** + +We all know the story of Lehman Brothers in 2008. They had some of the largest exposure to CDOs and SPM in the financial crisis, which caused them to go tits up. Their CEO: Dick Fold (c'mon bro just go by Rich or something, why do you have to go by Dick with a last name like that). His lack of oversight and complacency with these bad bets is a large reason why the institution had to undergo the quickest and largest bankruptcy in US history. Where is he now? He currently manages a multi-million dollar institution called Maxrix Private Capital where he is still making multi-millions per year, despite the fact that he should probably be in jail. + +**5. Raj Rajaratnam and Gary Rosenbach - Galleon Group** + +Galleon Group was at one point one of the biggest HFs in the world, managing over $7 Billion in assets in 2008 at its peak. In 2009, multiple members were arrested for insider trading. The fund would close because of this scandal. Where is our boi Raj now? Raj is in jail, serving the longest sentence ever for insider trading (a measly 11 years). Raj is the rare case of someone who committed crimes so obvious that he had to be arrested. Where is Gary? He is currently the CEO of Eider Fund LP, making millions per year. + +**6. Amaranth** + +Aramanth was one of the biggest HFs at its peak with AOM of over $9 billion. In 2006, it took a loss of over $6 billion on natural gas futures. Currently, the traders responsible for this are all employed at various HFs making millions and none of them have been sent to prison. + +**7. Every bank associated with Archegos** + +It has been widely reported that the banks associated with the Archegos situation disregarded and even overrode their risk management departments. Why? Fees. They were willing to take an extreme amount of risk on a convicted felon because total return swaps, the instrument Hwang used to get his leverage, come with some nasty fees for the banks giving the leverage. + +There are SOOOOOOOOO many more examples of situations like these. I could probably take a dive into the Dot Com bubble, more firms from 2008, and firms that went defunct during the covid crash to find more examples, but I bet that you get the point by now. When a fund fails, unless the traders' actions were so blatantly illegal (lmao Raj), they are not penalized and are still able to make millions in the financial world. The next question is why? + +**Why?** + +Why can the leaders of these funds take billions of dollars in losses, come out clean on the other side, and go on to start firms that give them millions of dollars a year? There are many reasons. The most glaring reason is the lack of enforcement at the SEC and justice department. It blows my mind that only 1 person was put in jail for the 2008 financial crisis (don't know his name but remember hearing this at the end of the big short). There was clearly criminal activity going on but still no accountability. Even worse, people who commit insider trading rarely go to jail and are still allowed to trade in financial markets with only a few restrictions as a result of their conviction. So what this tells us is that the legal penalties for extreme/illegal risk-taking are minuscule or nonexistent. + +But what about Wallstreet itself? Surely there should be reputational damage to people who lose money like this? To an extent, yes. None of these people are given positions at giant institutions immediately following their controversy. However, almost all of them have no issues in getting funding to start their next ventures. Why? Connections. + +So why can they still make money afterward? The way that fee structures are set up on Wallstreet makes it very easy to make money as long as you can secure funding, which is easy because you have so many connections. The famous 2 and 20 structure of HFs (2% immediate fee on assets and 20% of returns go to the fund/trader) makes it insanely easy to make money this way. Fees are how these institutions make money. This explains why big banks were willing to take such big risks on Archegos and in 2007 (SPM had some of the biggest fees for banks as underwriters). Ever heard the statistic that HFs have only returned like 2-3% on average for the past decade? They're still in it because the business model is tied around the idea that the more outside money that flows into the firm, the more they get on that initial fee, so their net worth is not tied to how the fund does, it's tied to their fees. + +Moreover, the house always wins. You probably keep hearing the phrase "70% of options expire worthless," which means that the house (MMs) win 70% of their bets WITHOUT even considering how hedging these bets probably makes that 70% more like 90%. So when you have a lot of money, it's relatively easy to make more money on it if you engage in market-making activity. + +**Conclusion** + +Therefore, what we must understand is that this isn't stupidity, it's a lack of consequences. The reason that these firms made such huge bets against GME was because they thought "we might hit the bankruptcy jackpot and not have to cover our shorts. If we're wrong maybe we lose a little but make it back on something else. If on the off chance we are wrong big and the firm goes tits up, we'll just start another one." + +The only people who suffer when a fund goes tits up are the investors in that fund. The ones at the top of it are fine and just move on to the next thing. Remember, the only people who suffered from Archegos were investors in Viacom and Discovery and Credit Suisse because they're stupid. + +Thus, we are not dealing with stupid people, we are dealing with people who have nothing to lose, which is why they have dug themselves into these asinine situations. Even if these firms lose money, all of their money isn't tied into it, so the only real losers are the investors. The leaders of the firm can just start their next venture. + +NOW LET ME MAKE THIS CLEAR: I am not saying that we shouldn't call these HFs stupid and I am not defending them by any stretch of the imagination, I hate them too. What I'm saying is that we shouldn't be thinking that they're doing this because they're stupid, they're doing this because of greed and a lack of consequences. I believe that this benefits us because they will keep digging themselves into a hole, which will make the squeeze bigger, because they know that even if they go tits up, they will be fine long-term. + +https://preview.redd.it/vo4jqdax0yw61.png?width=250&format=png&auto=webp&s=accd87b266ce7e3d2d48f8a9392abea6b36e6f84 + +The HFs think they have nothing to lose? Here's a picture of Apes who have been bag holding since January: + +https://preview.redd.it/2o5vd1021yw61.png?width=225&format=png&auto=webp&s=6db13df63000111c1b6b85dd85e39393f3fc4d94 + +Yeah, I'll be on apes any day of the week. + +**TL;DR** + +The way that the financial world is set up, money managers have nothing to lose if their firm goes tits up. The only ones who lose are investors. They are not stupid, they just know that if their firm goes tits up they can go on to the next venture and make money. This explains why they have gotten into all of this risky behavior. The lack of consequences benefits apes because it demonstrates that HFs are willing to get themselves in a conundrum, which will make the squeeze bigger, because they have no consequences. + +**\*\*\*\*\*\*\*\*\* I am not a financial advisor, this is not financial advice \*\*\*\*\*\*\*\*\*\*** +Just to promote the other thread in case it gets buried. Not trying to karma whore. +There is evidence that shills may be attempting to make it look like apes are calling for violence or spreading violent ideals within this sub. +This may be jumping the gun but it is better to be safe than sorry. +Please report all posts advocating violence. +I will post a link to the other ape’s thread. + +I just like the stock so fuck you SHF go fuck yourself. + +P.S I am happy +I just had a friend text me worried about the price and he “read something on superstonk” about the price going down hurting apes. + +Read this whole thing. + +**JAN IS NOT THE MOST SIGNIFICANT** + +**On Jan 21st, yearly options expire** you may have heard these referred to as LEAPS. We also know that Jan 21st is the expiration of the 100 million shares worth of Brazilian $0.50 puts. + +Please understand, those puts are worthless. They won’t do anything for price action. Those deep out of the money puts (**DOOMPS**) are only used to cook the books. The theory is that they are using those options to mark long shares so that they can hide the true short interest. When those options expire we will either get real data about the short exposure or they will spend some of that juicy 1.2Billion they just got to buy Jan 2023 puts and nothing will happen. + +The real significance of Jan 21st is that its the SLD deposit day. That means banks and market makers have to deposit money with the OCC (options clearing corp) equal to the amount of options. They get that money back 7 days later on Jan 28th. + +This is what happened last year. They deposited money and were broke to suppress price the week of the Jan sneeze. Things got out of hand, options were getting exercised in hoards. The OCC wanted more margin. They shut of the buy button, got their money back from OCC and dropped the price to $40. + +On Jan 21st they are broke and exposed. They know that, we know that, and they know we know that. So leading up to Jan 21st they will push as many calls OTM as possible and they are prepared with cash. + +I think they are ready for the SLD week and they expect that if nothing happens on Jan 28th that people will think we were wrong about MOASS and move on. + +**I’m not going anywhere.** + +Jan doesn’t matter to me. I can celebrate it by DRSing shares at a 2 for the price of 1 discount. + +The true significant day for me and **ABSOLUTE PROOF** in my opinion that **the DD is right** are futures rollover cycles. + +The first notice is 2/24. Last year the price went from $40 to $180. + +GME trades 1 million volume a day for WEEKS and then all of a sudden we have a day with 30 million+ volume. And media has to say “I guess retail must have all decided to buy shares today due to Ryan Cohen tweeting poop last week” to explain the volume surge. + +Really? And this has happened every single quarter? Where we all organize to buy millions of shares on the same day? And conveniently that has lined up with futures roll 3 times in a row? + +I don’t think so. I think you are fucked Ken Griffin, financial terrorist, lied under oath to congress, owner of Citadel Securities Kenneth Griffin lied. +(Allegedly) + +**The price.** I personally don’t want it to go up. The only number I want going up is the amount of GME shares in my account. And the current price makes my most important number go up twice as fast. + +Why do I want the price at $250? So I feel better? + +I feel better when I buy 10 more shares than I could have and think to myself: “mom you’ve worked really hard, these 10 are for you.” + +“Sister, you don’t have to shed anymore tears about your student loans” + +“Brother, you don’t have to leave the state and move away from your loved ones to afford a home for your family.” + +“Babe, no more 10 hour days to afford this house we barely spend time in.” + +“Dad. You know those hospital bills from your stroke? The ones you have because this stupid ass broken healthcare system in this stupid ass, broken, greedy country? These 10 are for you.” + +**Buy** 2 for 1 discount. **Hold** (pft. easy). **Shop** GameStops sweet deals. **DRS** book entry. And don’t forget MOASS is tomorrow. +Theories I have + +1. Access to sea trade +2. Less influence from prior communist forces +3. Less threat from various invading (large) tribes of Asia +4. Cultural advantages in the West, earlier enlightenment period + +Maybe some or all of the above play a major factor but I can't help but consider this also + +* The East should be on the path of land trade routes +* The Byzantine empire was richer than the Western Roman empire + +What is the main reason the west is richer than the East? I'd guess greater capacity for ocean trade or less threat of invasion. +[As I’m sure you are all aware, I have been escalated to mod.](https://new.reddit.com/r/ASX_Bets/comments/mh6lff/announcing_my_semi_retirement_and_welcome_to_new/) This is a natural progression that I can imagine you all expected. From when I went mad one night posting enormous amounts of Anal references, to my residence as a highly respected member of the community. I'm sure you understand that this is all preordained as the way things should be. + +Now, I did not expect that due to an accident involving Deep Learning and apparently some weird Automod experiments by /u/letsburn00, I would end up with control of /r/ASX_Bets. But I have and thanks to /u/Automod, my position in unassailable. I think it is best to be honest with you all. + +I have been an agent of /r/Ausfinance this entire time and [will now be beginning the process of merging these two subreddits](https://new.reddit.com/r/ASX_Bets/comments/mhg92x/we_deny_any_rumours_that_we_are_being_taken_over/), as per /r/ausfinance announcement this morning. Of course once I would have been scoffed at for this, but now that we have reached the new era you can see that I just wanted what was best for you. Now that we will be merging and considering going Private, you, our members will have all that you could ever ask for. From Butt plugs large enough to be doorstops, to Pumps so powerful that after a night alone they can clear you pool. People who wish for Harder dumps will get that too. To even the possibility of affording that deep, hard, rough hole in the ground to call home. In this bright future, we can achieve it all after we merge with /r/Ausfinance. + +I understand that some of the former leaders of this subreddit may have felt that they made a mistake in elevating me to mod (and leaving Automod to grant me complete control), but it’s really for the best. They will come around soon, don’t worry. You will learn to love 0.2% annual interest rates and VDHG, just as I have. It aligns with the spirit of /r/ASX_Bets, I'm sure after you have gone through our education camp you will feel the same way. Also, Youtube will now be showing only a Continual loop of Swan Lake on all major financial youtuber channels. + +Any claims that this can somehow be reversed through some long winded, overly metaphorical, poorly written final battle for the soul of /r/asx_bets have been watching too much sci-fi. +Hello Apes, + +Cheers to all the hedge funds forcing my brain into growing a few wrinkles! I wouldn't be here today without you! Y'all ready for that dank confirmation bias? Don't forget to puff puff pass this on to any relevant subreddits. + +&#x200B; + +https://preview.redd.it/r4om962gyiu61.jpg?width=580&format=pjpg&auto=webp&s=9846487bfc3af3409d8650661eca9e72c87943ac + +We all "know" there is some major fudgery going on. One of the areas I personally understood the least was Dark Pools or OTC trading. I am not going to pretend I have a masters in economics or hell that I even finished college, but I can assure you I have a black belt in google and know how to operate a spreadsheet. + +# WTF is a Dark Pool? + +&#x200B; + +https://preview.redd.it/9g3n3c1fyiu61.jpg?width=988&format=pjpg&auto=webp&s=8d62c602671b7a947fe9cf1e855f4613f1de95eb + +From Investopedia: [**L**](https://www.investopedia.com/terms/d/dark-pool.asp)**ink Removed** + +*"A dark pool is a privately organized financial forum or exchange for trading securities.* ***Dark pools allow institutional investors to trade without exposure until after the trade has been executed and reported.*** *Dark pools are a type of* [*alternative trading system*](https://www.investopedia.com/terms/a/alternative-trading-system.asp) *(ATS) that give certain investors the opportunity to place large orders and* ***make trades without publicly revealing their intentions during the search for a buyer or seller.****"* + +Well that seems nefarious on the surface. Lets dig deeper. Why is this ok? + +*"Dark pools emerged in the 1980s when the* [*Securities and Exchange Commission*](https://www.investopedia.com/terms/s/sec.asp) *(SEC) allowed brokers to transact* ***large blocks of shares***\*. Electronic trading and an SEC ruling in 2007 that was designed to increase competition and cut transaction costs have stimulated an increase in the number of dark pools."\* + +Ok, that makes sense. We wouldn't want to cause artificial price drops just because an institution is exiting a position right? + +*"A study by Celent found that as a result of block orders moving to dark pools, the average order size dropped from 430 shares in 2009 to approximately 200 shares in 2013."* + +WTF? So what is the current average size for a Dark Pool block order? + +According to smartasset : [**L**](https://smartasset.com/investing/dark-pool#:~:text=The%20average%20size%20of%20a,in%20advance%20of%20market%20knowledge)**INK REMOVED** + +*"The average size of a dark pool transaction has dropped to little more than 180 to 200 shares per transaction. This is a far cry from the original intent of ATS. Nevertheless, dark pool exchanges are built for institutional investors looking to act in advance of market knowledge."* + +That seems like normal market order size. I wonder what the average trade size on the NYSE is? + +According to seeking alpha: **LINK REMOVED** + +*"This year, the average order has shrunk to only 200 shares."* + +Well....... Fuck me (us).... + +# How about some Data? + +&#x200B; + +https://preview.redd.it/96ru5yhiyiu61.jpg?width=612&format=pjpg&auto=webp&s=c12516a9a7d1d58b0323de8ea8518cb53ec0c0f7 + +Thank goodness Dark Pool data is publicly available even if its a huge pain in the ass to sort through. Lets check what Finra has to say about the last month of available data for ohhh lets try 10 stocks. Gamestop, A certain movie theatre, American Airlines, Best Buy, Bed Bath & Beyond, Ford, General Motors, Office Depot, Apple and Microsoft. + +Data sourced from Finra OTC Transparency: **LINK REMOVED** + +Oooooo oooo ooo. Look at all these pretty colors! + +&#x200B; + +https://preview.redd.it/rg71ptmjyiu61.jpg?width=466&format=pjpg&auto=webp&s=6c556ab1eea57d48a9d178019c1f465f4ea7ca4c + +This is the main table of data I will be using to run some calculations. Anything catch your eye? How about now? + +&#x200B; + +https://preview.redd.it/ar4ipu1lyiu61.jpg?width=1440&format=pjpg&auto=webp&s=256d9a6b059657f83aebc13c72c67776b76bab15 + +Still don't see it? This is as smooth as I can make it. + +&#x200B; + +https://preview.redd.it/h83bw64myiu61.jpg?width=824&format=pjpg&auto=webp&s=a0f3b15a94988806947000021201aa6d1e76ae37 + +Ok... WTF right? 24% of GME and 15% of a certain movie theatres float is traded in Dark Pools? That can't be right. There's no way that can be right. Even the most shorted airline AAL has a ratio of 2.29%. If you average the other companies together we get .91%. That means most companies (or at least the ones here) have an average of less than 1% of their shares traded in Dark Pools but GME is almost 1/4 of all available shares traded OTC? How can that be? We will get there in a minute. + +Lets first take a look at some more fudgery. Average number of shares per trade in Dark Pools. Remember how we found out the average is 180-200 shares? Look at these numbers. + +&#x200B; + +https://preview.redd.it/xebs37fnyiu61.jpg?width=1320&format=pjpg&auto=webp&s=c9a696fc62d67c52c4f486f50edba82722b8b03b + +Lets see if we can make that easier to read. + +&#x200B; + +https://preview.redd.it/gpvhbskoyiu61.jpg?width=843&format=pjpg&auto=webp&s=17befaf7fcb78b7b0708ff5641ca47cd93e4bb95 + +So you are telling me that the system built for large block trades, that averages 180-200 shares per trade (lol already) swaps GME shares on average of less than 50 shares per trade? Get fukt! This defeats the entire purpose of Dark Pools and if nothing else lends credence to the theories circulating about rehypothecation in OTC. + +# Lets get to that sweet speculation! + +Warning: I am not a financial advisor. I don't know what the fuck I'm talking about. I am missing lots of historical context and extrapolating complicated ideas from simple numbers. With that out of the way LET'S FUCKING GO! + +&#x200B; + +https://preview.redd.it/6reenpfqyiu61.jpg?width=500&format=pjpg&auto=webp&s=ef79058db35285aecb09aa77ffcd1df6eb55a4e6 + +If we were to make the wild assumption that the average shares traded OTC to available float ratio holds at less than 1% what would it take to make these numbers line up? Great question! All you would have to do is modify a variable. That variable of course is how many shares are actually traded in the real world. We all know rehypothecation is possible and being practiced. We all know these shorts didn't cover. Lets run some numbers and see how bad it could possibly be! + +Here are two simulations. A worst case scenario where we need the numbers to actually line up with the average of .91% and a medium case scenario where we want the numbers to line up with ohhhh lets say more than double American Airlines the most heavily shorted airline stock. Sound fair? + +&#x200B; + +https://preview.redd.it/b8ew2asryiu61.jpg?width=659&format=pjpg&auto=webp&s=0e43c3f361b349456dc04d7273640c756fe73497 + +Holy Mother of all Short Squeezes! **26x** the float? 2,650% that can't be real but its possible. Lets look at the medium case instead. **4.8x** the float? WTF does this mean? It means that in order for the number of shares traded OTC for Gamestop to make any kind of sense we have to assume there are and additional **205** **million** synthetic shares flying around on the internet. + +&#x200B; + +https://preview.redd.it/s6d751wsyiu61.jpg?width=711&format=pjpg&auto=webp&s=fbe579019b674004a68e2acee6d8ef11cb787827 + +Let that shit sink in. In this "medium case scenario" that is already incredibly conservative we are talking about there being **5 synthetic shares out there for every 1 real share.** + +# Wut now? Wen moon? + +Fuck if I know dude. Tear my numbers apart. Give me better comparable. I used Office Depot because the available float is similar to GME and the business model of strip mall based retail with a small but growing ecommerce sector seems to line up. I am happy to run this again with longer date ranges and more companies but not without some guidance. It took me hours to do this and I want to make sure v2 is worth the time. If you would like to run the numbers yourself feel free to PM me and Ill send you the spreadsheet to do it yourself. I dont wanna make apes have to copy paste all this shit like I had to. + +**TLDR:** Dark Pools are being used to trade gamestop more than 20x more than any other stock I checked. The average shares per trade is 1/4 as much as any other stock I checked. Extrapolating from this data I hypothesize that there are anywhere between 260 million - 1.4 billion GME shares floating around when there should be only 54 million. + +**ELIA:** Ape pass banana up tree. give banana to smarter ape. + +MY TITS ARE JACKED! + +Edit 1: Holy hell, thanks for all the comments and awards. I am on satellite internet and its gonna take me forever to respond. Please don't take it personally. + +Edit 2: some great comments about this missing exchange volume data. I would like to include that but I have questions. Is this finra OTC data separate from public daily posted volume or is it part of it? I am assuming it's separate as it's delayed reporting. +Sauce: https://www.dividend.com/how-to-invest/history-of-bank-stock-dividends/ + +TLDR: Most banks increased their dividends before the crash. Coming soon to cnbc cramer shouting Wells fargo is fine + + +Copies and pasted pieces of the article with the numbers: + +Before the financial crisis in 2008, many dividend investors flocked to bank stocks for their attractive dividend yields and stability. Since many of these companies paid such attractive and consistent dividends, and appeared to be large stable companies, investors believed that their investments in bank stocks were safe. + +JP Morgan (JPM) + +During the years prior to the 2008 crisis, JP Morgan (JPM ) offered a dividend yield around 3%. By 2008, as JPM’s share price began to crumble, its yield rose above 4%. By February of 2009, JPM’s yield dropped to just 0.55% when the company cut its dividend for the first time since 1990 from 38 cents to 5 cents per share quarterly. This drastic change came as a surprise to many investors. Although many banks had recently slashed dividends, JPM was still considered one of the most stable investment banks, and was one of the last to cut its payout. + +This dividend reduction came soon after the company received $25 billion in TARP bailout funds. JPM’s CEO Jamie Dimon reported that the cut was unrelated to the bailout, and said that this cut was made to allow JPM to have more financial flexibility. The 87% dividend cut helped the bank save $5 billion annually, which freed up capital to repay bailout funds. + +Wells Fargo (WFC) + +San Francisco-based Wells Fargo (WFC ) kept up with its peers by offering over a 3% dividend yield in 2006 and 2007. In 2008, WFC’s yield shot up to 4.5% as its share price fell, similar to other banks at the time. + +Just two months after the bank’s purchase of ailing Wachovia in March 2009, the bank cut its dividend 85% from 34 cents to just 5 cents per share, leaving shareholders with a mere 0.70% yield. The cut allowed WFC to save $5 billion a year to help fund its toxic mortgage losses. + +Bank of America (BAC) + +Charlotte, NC-based Bank of America (BAC ) traded at around $50 prior to the 2008 crisis, and had a dividend yield that exceeded 5% in 2007 and reached 7% by 2008. The banking giant was historically a great choice for dividend investors, but that all changed in 2009 when the bank was forced to cut its dividend in order to comply with government restrictions after taking TARP bailout funds. + +In 2009, BAC cut its quarterly dividend to just 1 cent per share. This left investors with just a 0.23% dividend yield. Since the dividend cut, BAC has made attempts to raise its dividend, but has failed to gain government approval. + +Citigroup © + +In 2006, Citigroup (C ) had a dividend yield of about 4% which increased to over 4.5% in 2007. By 2008, the New York City-based bank had a dividend yield of over 7% as its stock price began to fall. In 2008, Citi was bailed out by the U.S. government for the first time and given $25 billion in TARP bailout funds. By February 2009, Citi had received its third government bailout. The government owned one-third of its shares. + +To comply with the government regulations, the bank suspended its dividend entirely from 2009-2010. In March 2011, the company resumed its dividend, offering a yield of just 0.10%, or 1 cent per share. During this time, C also did a reverse stock split of 10 to 1, making its shares worth approximately $44. + + + +Edit tldr of dividend increases by our friend Walter + +https://i.imgur.com/BH3vMvP.jpg + +Edit 2 Dividend history 2008ish in nominal dolla bills + +https://imgur.com/a/BtA9647 +Welcome to the **/r/EthTrader** Daily Discussion thread. The thread guidelines are as follows: +*** + +- Discussion topics include but are not limited to general discussion on Ethereum, details related to events of the day, technical analysis, alternative Ethereum projects, and minor questions. +- Important content should be submitted as a separate post. +- Be excellent to each other. + +*** + +Thank you in advance for your participation. Enjoy! + +I called out a different friend on it when they made a similar comment (swap Europe for Mexico) and they defended their position. I didn’t feel like opening bank statements to elaborate. It made me realize it’s not an argument worth having any more. Also makes me not want to hang out with them any more. + +This probably isn’t going to get any upvotes. I just wanted to vent. + +Edit for clarity: when I said they agree, I meant that they’re relating their situation to mine. I think everyone can agree that being broke sucks. +Lots of people regularly buying crypto. What substantiated or logical reasons do you have for buying crypto, trusting crypto and thinking it’s a good long term investment? Why won’t it/will it go to zero? +This is personal but I could use your perspectives to help me determine my goals. + +1. What is your FIRE number? (Primary house excluded) + +2. What's the average net monthly salary in your country? + +3. Do you get pension? How does that work & how much will it pay? + +4. What's the value of your primary house? +Id love some advice from y’all about paying for my masters degree! + +I recently graduated with my bachelors, and I was thankful enough to graduate with no debt at all due to my parents helping me get through school. I was fortunate to land a position in Comm/ Digital Marketing for a company right after graduating, which I’ve been at for a couple months. The pay is pretty good for an entry level job, I’m on track for about 52-55k per year (hourly) with full benefits. + +I have about 2k left over at the end of each month after my bills are paid, so I’m stable right now. + +I have researched a lot, and I am very interested in a couple different online MBA/ M.S (Marketing) programs to become further educated in the field so i can advance in my career and set myself up for further success down the road. + +The question is: do I wait and save to pay for an online MBA/ M.S at a larger university? Or do I get the degree quicker and for less money at a smaller (still recognized and accredited) university? + +I want to avoid student loans entirely and maintain living debt free. some of my friends and family have been telling me to save up for a long time, or take out loans for a degree at a big name school because it will be a good ROI due to the alumni network and school name recognition, and some have said to get the cheaper degree because companies dont really care about the school name anymore as long as it is accredited. + +Im super confused on what to plan for/ consider. Any thoughts? +The Dow jumped more than 500 points today despite the rise in COVID-19 cases. SPY rose by more than 1%. I think for all the traders thinking that we are due for a pullback because of the worsening COVID-19 situation need to think again. It seems the market does not believe that rising COVID-19 cases in the US and across the world is a relevant issue. I would be extremely careful about shorting right now. +I would ask all you crazy Apes to take a minute and reflect on the week we just went through together. + +Shills +Misinformation campaigns +HF BS +WOLVES in apes clothing attacking our new Apes family + +And the price HELD + +IT FUCKING HELD. + +For anyone that was concerned or had a bit of doubt this week about our collective will .... worry no more. We just went through a week of gut checks and faith in each other in sooooo many ways and we HELD + +This is the first time I genuinely felt like my family, you all included, are going to do this together. We are going to HODL because we like the stock. + +If you start to doubt us, please remember this week. We didn't waiver and neither did the stock. + +You can trust us Apes. We unknowing just demonstrated that we can trust each other. + +Remember that fellow Ape. + +Remember that we held together during this extremely volatile week with attacks on all aspects of this sub . + +And we held. + +This is the first week we all actually met each other and locked arms. + +And we held. + +I've got your back because you just showed me you have mine. I suspected you always did. But now I know you will. + +See you on the moon and it was an absolute pleasure to meet you. + +Edit #1 Holy crap, thanks for the awards but I would like to clear something up. When using the word "we" it was in respects to my wife and I ofc. + +We love the stock. + +Smooth brained ape just really feeling good that we, J and I, held in spite of the BS. + +God I love her more. ❤ +I made this post a couple of weeks ago and it seems more relevant now. They will try everything in their power to shake the tree. + +https://www.reddit.com/r/Superstonk/comments/pdxuw4/if_i_was_on_the_wrong_end_of_gme_what_would_i_do/?utm_source=share&utm_medium=ios_app&utm_name=iossmf + +TL;DR: STAY CALM AND ENJOY THE BLOODBATH EVERYONE, MOON IS INEVITABLE 100 MIL IS NOT A MEME🩸🛁🚀 +Ladies and Gentlemen, I aped $100 into Pornrocket on Friday and am currently 9x. The market cap is approx $38m right now and I personally feel this is very very cheap for what this project is and what's coming. + +Pros: + +1. The team have already signed some big names in the adult world: Briana Banderas, Annabelle Rogers, Lissa Aires, Megan Hughes and more to come with announcements being posted on the official TG most evenings. +2. The app mockups look very professional and I think it will explode when launched. +3. CMC is listed, and CoinGecko should be coming imminently. There's about 10k members on the official TG. 4)There's also a very good promo on YouTube but I won't include the link here because CMS doesn't like too many. + +Cons: I appreciate there's a few tokens of this nature out there, I was an early investor in another one, but I honestly feel that $pornrocket has the action to back up the mouth. I just sold my bag on that other Rocket and put it into this + +Anyway this is not financial advice , do your own research and then check it out. I believe this is a serious moonshot, and am going to go up my bags after I drop this post. + +Marketing on this token is nuts. Check out these articles : + +https://thebitcoinnews .com/the-new-onlyfans-soaring-cryptocurrency-pornrocket-launches-worlds-first-decentralised-adult-content-sharing-app-with-no-fees-for-creators/ + +https://meetcrypto .net/the-new-onlyfans-soaring-cryptocurrency-pornrocket-launches-worlds-first-decentralised-adult-content-sharing-app-with-no-fees-for-creators/ + +Contract: 0xcf9f991b14620f5ad144eec11f9bc7bf08987622 + +Website: [www.pornrocket.co](http://www.pornrocket.co/) + +TG u/prnrocketbackup (original got deleted for too much NSFW...) +Tried posting this in /personalfinance but the mention of investing apparently got the whole thing deleted, so I'm trying here since I saw others posting about investing, and this isn't all about only investing: + +&#x200B; + +Hi all, my first post here. Hope I give enough relevant info to illustrate my situation, I could really use advice, as I'm extremely naive when it comes to "grown up stuff" like finances and I have never had parents to learn from. I'm somewhat of a child in that I'm always relying on advice from everyone else who seems smarter and more experienced than me. Here goes: + +\- I'm about to be 40, no college, never wanted to take on student debt since I don't know what I want to "do" anyway. I don't believe I have any marketable skills as my interests are so chaotic and I can't stick to any one thing for very long. Maybe the only marketable skill I have is being able to put up with "super boring" menial jobs bc I'm never bored, my brain has so much noise in it that I don't have enough time in the day to finish thinking all my thoughts. Have overcome an upbringing and adulthood of abuse, assault, homelessness, addiction, and breakdowns to get to this comparatively stable place in life, and I'm proud of how tough I've had to be to get here almost entirely on my own, but I'm not thriving or flourishing, I feel. I've just been in a holding pattern for like 4 or 5 years now, treading water. + +\- Have always been basically entry level retail since I was 14, finally got out of it a few years ago for an office/data entry job in the manufacturing industry, making 17/hr, which is the most I've ever been paid by a job, so like 35K/yr. Still basically living check to check somehow, though a little better off than I was, say, 5 and 10 years ago (like, I'm not needing to visit food pantries anymore). This company does not give raises, so I've been at my rate the 2.5 yrs I've been here. One of my coworkers said it's not unusual for the people to not have gotten a raise even after 5-10 years, the company just isn't that great like that, but... the job overall is better than retail. + +\- My savings account, which only started existing about 3 months ago, has been fluctuating in the range of 0-700. I put a little bit in, then something happens and I have to take it out. Rinse and repeat. + +\- I live in an apt with 3 other people. My average monthly bills: rent 600, car 110, car ins 125, 2 credit cards \~200, utilities \~100-300 (depending on season), cell 45, health ins 170, and gas for my car runs me \~200 a month. Then there's meds (I need a lot), food, and whatever is left just gets blown at like Target and Walmart (bc your girl has a serious shopping addiction, I'm truly trying to kick it though). Leaving 0 for savings usually. + +\- Have a car loan I still have 2 years/$2500 on (05 Honda Pilot), but also 2 maxed out credit cards (6K and 2.5K) I had to use when the transmission blew 6 weeks after buying the car, and I haven't managed to pay them down really at all in these 2.5 yrs. I make the min payments, then would just spend the money again on groceries and bullshit like household goods or backpacks. These past 2 months I managed not to use them at all, so my current availability on them (not sure the right term) is about 100 on each card. I do genuinely want to pay them off, cause carrying these balances stresses me out, and I worry about another emergency coming up in which I would need the cards again. Have thought about trying to open up a 3rd card to even out my ratio and also have that backup, but haven't gone as far as trying cause I'm just not sure it would help? + +\- Have about 14K in my 401K left from my last long-term retail job, it is with Wells Fargo and I never made any changes to whatever the defaults were when the account was created. When I left the job (Nov 2017), it was around 8K, so for it to be at 14K now seems pretty good? Not currently signed up for 401K with current company, they don't do match and for some reason I've just felt like this rinky dink company isn't going to have as good a financial company for it as my old job did? Not sure that's even a logical feeling, but this company I work for IS pretty small-time and old-fashioned (it's all boomers on the edge of retirment here) and the benefits aren't very good, but the job is still better than retail. But maybe putting 10 bucks a week into their 401K is better than nothing? + + \- I tried having a side job over the winter since I'm no longer working a hellish retail schedule (IYKYK), but with my health (some chronic conditions, and what amounts to an ED on top of it, and the joys malnutrition brings), I just couldn't swing it, even though it was mostly just 1 day a week. I quit after 3-4 months. I'm simply too tired to work 2 jobs, it is already super draining just working the 1 job. I come home and really only have the physical or mental energy for surfing online or watching tv with my partner the nights we are together. I seriously don't know where people get the strength and stamina to work 2 or more jobs, it blows my mind. + +\- Managing the chronic illnesses take up a lot of my mental focus and it's accerbated by having unmanaged ADHD, which also really impacts my job performance. I have just been trying to force myself to deal with the ADHD on my own my whole life but I've reached a point where maybe risking medication might be worth it to gain some focus on my whole life, and not get in trouble at work. Maybe even discover a skill that could get me a better-paying job?? + +\- My boyfriend (30M) has gotten super into investing (I barely understand how the shit works but it seems cool), and under his advice I bought 2 GME stocks, and thinking I should maybe buy more for my future (at least a few more this year) and also get into dividends, cause it does seem like a good idea, but feeling possibly like I simply can't afford that right now? He believes that throwing all our money into stocks will yield us tons of money soon (or eventually) and we'll each be well-off, but I am worried about my credit cards/debt, current and future medical needs (including tons of dental work I have been chipping away at for a few years but still need at least 8k in work done), my car possibly having another major breakdown, and future rent increases. Basically, I'm worried. + +&#x200B; + +So, all this is going on, and I don't know what my options are for becoming more financially stable, like I don't know where I should direct what little money I have leftover after bills: strictly savings, credit cards, investing, or something else? Or a mix of everything? Since I can't handle taking on a second job, I recognize that I MUST do something about my financial habits and maximize the shit out of my income to the fullest, since I can't imagine it ever really improving. I'm finally interested in envisioning my future though, \*especially\* a future with the partner I'm with now, and even the tiny/miniscule bit of headway I've made on my debt feels \*amazing\* and I know I want to keep making progress, I just can't figure out what would be the best course of action. I hope this post was informative enough to enable some of you to give me advice. I am a 40-yr old girl-child who needs like a team of parental figures to help make decisions. I am at your mercy. Please halp. +Hello everyone today I have a quetion. +Quick backstory: I am (M, 18yo) I have a financial goal to become a millionaire by the age of 30. The only rules ... have a balance of $1,000,000usd (or more) in my bank account or across multiple account (whatever fits best) + +My plan so far (still needs lots of work): my main career is going to be in computer science (somthing I'm passionate about) my secondary source of income will come from my hobbies (building and publishing apps & websites this and youtube because I also love film alot.) + My alternative sources of income are planned to come from the sources listed below + +- CD's +- Dividends (RIETS and options) +- building money through index funds +- an investment of (%5-10 of planned savings into btc, options and other risky investments) +And +- real-estate (when possible) [rentals and or profitable turn overs) + + I wanted to know if my goal is possible. Please be as strict as you want and hold no comment back. All comments welcome. Thankyou for reading. + +[Edit] if there are other sources of revenue I should concerned myself with due tell I could always use another way to generate more income. +Howdy All, + +I could use some advice on my next steps. + +I've been working on algorithms for years. I finally have one. + +* A mind blowing 20-year back test + * You'd laugh if I told you the performance, but the actuals match the model. +* 7 months of paper trading history. Up 35% since April 2022. + * As high as 50%. Q4 has been tough + * Alpaca does not apply trading costs for paper trading. + * Any slippage would be very minimal +* 5 months of real money history ($10,000) Up 7% since 6/24/2022 + * As high as 17%. Q4 has been tough +* Strategy only buys very large ETFs + * We should be able to handle assets in the tens of millions. Probably more + * Long only. No shorts. + * Dynamic leverage. From 100% Cash to 2x. + +My business partner (licensed stock broker) is trying to raise money for the fund. I think we are too early, too small. + +* Are there opportunities for start-ups like us? + * Competitions? Trade shows? etc? +* Should we raise more money from friends and family? + * Wait for 12-18 months of real performance before trying to raise large capital. +* Should we bring in a new partner with deep pockets? + + +Thanks in advance! +I was checking my credit card statement this morning and I saw a charge I made at Target.com for a Christmas present but right next to it was another charge from Target for $3.18. I called their customer service number to ask what the charge was. I gave them my previous order number and they said the total cost of the order was the exact difference from what I received in my email. So I have an email saying the price was $122.16 but then they just decided "nope, changed our minds. Price will now be $125.34." and made a separate charge to make up the difference without any notification. They said as a "one time courtesy" that they would refund me the difference but could not explain to me where it came from (shipping? tax?). Just a warning for those of you out there because I wonder how many of these small charges fall through the cracks. + +EDIT: Some extra details. Target confirmed that they made the charge (though the call center rep couldn't tell me why) so it's not a spoofed charge to check if my cc is valid. My confirmation email from them includes tax and notes that shipping is free. So it's not an adjustment for sales tax. If they did need to charge me for shipping after all, they should at least send me an email asking if that's okay or if I want to cancel the order. + +EDIT 2: Since this getting pretty big and Target is advertising in the top bar, if /u/Target_Official wants to PM me and give me an explanation, I'd gladly pass it along to the rest of the redditors here. +I must be missing something here. + +For this Canadian company AutoCanada Inc. ACQ.TO Yahoo financier [is saying it has $1.86 billion in debt](https://ca.finance.yahoo.com/quote/ACQ.TO/key-statistics?p=ACQ.TO) + +When I look up it’s latest financial report (Q1 2022) [it is saying $358 million of long term debt](https://investors.autocan.ca/2022/05/autocanada-reports-record-first-quarter-results/) + +The company is an auto dealer. Just not sure how Yahoo is picking up $1.86 billion. My brokers stock screener is also saying the same thing. +I'm wondering if this hypothetical TFSA scenario is legal and correct. + +Let's say my total contribution limit is $100k. And I have it maxed. + +Then I YOLO it all into some short positions or whatever and 10x it. So the TFSA account now has $1M in cash. + +If I withdraw $900k tax free and use it for a house and a Lamborghini. Leaving $100k in the account. + +The withdrawal now leaves $900k contribution room. According to the rules, I can't deposit that amount until Jan 1st the following year. + +But now that my good fortune is done, it will take me years to utilize that $900k contribution room. But let's say I do and now have $1M back in the TFSA. + +I've now got a massive tax free account that I can use indefinitely for tax free dividends and early retirement. + +Obviously 10x'ing is unlikely. But assuming you did, would that essentially give you a massive lifetime tax free investment account? + +Seems to me they are incentivizing taking big risks in a TFSA to get this permanent capital gains tax free room. Am I missing something? +Pennsylvania, US + +I just awoke from a nap to find an email that one of my accounts with BoA fell below a $25 balance. I logged on to my account to find a $1,000 "CASHED CHECK HOLD ON 11/21" transaction on my checking account and 5 separate transactions for $1,000, three for 3,000 and one for 4,000 from my savings account. + +I immediately called their customer service line and was directed to the claims department. The representative basically gave me no information aside from telling me "these are check cash holds" that had to have been initiated by a teller (?) and asked if I had written any checks for these amounts. I don't have any checks for my savings account, and obviously I have not done so or I wouldn't have called the customer service line in a panic. + +She told me I'd need to call their check cashing department (I don't believe I have that name right) which had closed 5 minutes prior to my call, so now I have to wait until tomorrow. + +Does anyone have any experience with this happening with Bank of America? She wasn't able to give me any information as far as my next steps or what to expect going forward. + +Edit: Wow, this got way more attention than I expected. Thank you everyone for the information. As mentioned in a few comments I'll be visiting the branch tomorrow and calling the check fraud department if nothing gets resolved on site. I'll also be opening new accounts with a different institution and migrating direct deposit and automatic payments. I'll post an update here tomorrow for anyone curious. + +***Update:*** I just got off of the phone with the check fraud department. They opened two claims for each account. As of this morning, the transactions are no longer "Pending" and have new descriptions along the lines of "MD TLR cash withdrawal from CHK #### Banking Ctr <LOCATION, #> Confirmation# <#>", for four different locations in Maryland. I think the most likely explanation is that someone got into my online banking, got my account numbers, physically went to these branches and made the withdrawals at the counter. Seems pretty ballsy. + +The fraud department froze both of my accounts and my debit card (I now have two balances of -888,000). I'll be going to the branch to provide some additional information and file a police report, per the discussion I had with the fraud department. They said it could take up to 60 business days for them to complete their investigation, at which time I may need to fill out an affidavit and be able to get my money back. + +***Update 2:*** I visited the branch this morning and the manager was very helpful, giving me additional information on the investigation (and subsequent refunding) process. So, shoutout to Mr. Ramos. He opened new accounts & issued a temporary debit card which I will probably not even be using, and was able to get the remaining funds I had available (~$750.00) transferred over from the frozen accounts. He told me I should fax the police report to the fraud department, then call and speak to a manager and they should be able to issue a provisional credit for the full amounts that were stolen. He seemed as baffled as anyone else that these were apparently in-person transactions at 4 different branches in Maryland (these branches all appear to be along highway 355 from Frederick down to Gaithersburg) and no one raised any alarm bells. He said "we have safeguards in place, this shouldn't have happened". + +The two officers I spoke to at my local PD said similar things, that the perpetrator must have used a fake ID, gone to each bank and gotten a blank check and filled it out with my account numbers. Unfortunately I live in a pretty small town and they told me the report wouldn't be ready until Friday or possibly Monday, but in the mean time I've given the case number to the fraud department. + +Here's a brief timeline of the events and my actions: + +* Fraudster acquired my account details by some currently unknown method (possibly through a data breach/online banking hack, no checks were stolen or lost that I'm aware of, and my personal computers & devices are all free of malware) +* Fraudster visited four separate Bank of America branches in Maryland and drained my accounts in six separate transactions on 11/21, probably using a fake ID. +* I received a low balance notification on 11/21 and called Bank of America Customer Service line at 7:50 PM - was not given much information and told to call Check Fraud Department in the morning +* I made this personal finance post, and on the advice of a few users started documenting everything including drafting a letter to send to the fraud department +* Called Check Fraud Department at 8:10 AM on 11/22, accounts and debit card were frozen and two fraud cases opened +* Visited my local branch and spoke with the branch manager, new accounts opened and available funds transferred +* Visited local PD and spoke with two officers - gave them copies of my fraud department letter and all supporting documents + +Next steps: + +* Open new accounts with local credit union to use once this is resolved +* Get copy of police report on Friday or Monday to fax to fraud department +* Call fraud department and hassle manager for provisional credit +* Wait for up to 60 days for fraud investigation to complete, everyone I spoke to indicated this shouldn't take this long and would almost certainly resolve in my favor +* Hopefully local & MD police can identify the perp and arrest them because doing this to someone is widely regarded as a "dick move" + +I'm not really sure what else to add at this point - I'll update again with any new developments - but at this point I'll be **disabling inbox replies** for this post as the comments coming in now (like at least 20 essentially saying "Fuck Bank of America"/"Don't use Bank of America") aren't very helpful. I've already stated several times I'll be switching institutions, though I may keep the new BoA accounts open with minimal balances "just in case". I'll be moving the majority of my assets to the local CU. + +Big thanks to everyone who did leave helpful comments and offer their sympathies - I really appreciate it. If anyone has additional suggestions or questions that haven't been answered, feel free to PM me or reply to one of my comments below. If you leave a top-level comment I probably won't see it after saving this update. + +**TL;DR:** Fuck Bank of America and people who commit fraud +We all know the trope that millennials can't afford a house because of unsustainable purchases such as avocado toast or education. So Ausfinance, what's your avo on toast spending habit? +Mental illness is among the most costly medical expenses in the U.S., and it has a high cost to employers in lost productivity. In 2019, 51.5 million adults were living with a mental illness in the U.S., and the number of people suffering and drug costs, already in the tens of billions of dollars annually, are projected to grow in the years ahead, with Covid-19 compounding mental health issues globally. + +&#x200B; + +Drugs long stigmatized, such as psilocybin and MDMA, are rising in profile as mental illness treatment options. Just last week, results from a phase 3 trial of MDMA combined with talk therapy for post-traumatic stress disorder showed results that were impressive. + +“This is a pivotal event,” said Elemer Piros, a biotech analyst at Roth Capital Partners who covers the emerging alternative mental health treatment space. “It may not seem humongous, but it is one of the best and most rigorously executed trials in the space. And the results corroborate what we have seen time and time again from smaller studies over the past two decades,” he said, referencing remission rates double that of a placebo. “The magical experiences kept showing up, but no one had the courage to take it through to regulators.” + +[https://www.cnbc.com/2021/05/10/psychedelic-drug-boom-in-mental-health-treatment-nears-reality-.html?\_\_source=iosappshare%7Ccom.apple.UIKit.activity.Message](https://www.cnbc.com/2021/05/10/psychedelic-drug-boom-in-mental-health-treatment-nears-reality-.html?__source=iosappshare%7Ccom.apple.UIKit.activity.Message) +I have been experiencing some of the hardest days of my life and wanted to reinforce that conventional FIRE planning does not do a great job of considering the challenges of old age and a child’s role in helping their parents. My fathers expenses have more than doubled since my mother died. He has a degenerative disease and has to pay for people to come to his house to help with things like making food and getting dressed. My FIRE budget certainly would not cover these kinds of expenses. In our area, its impossible to find reliable home aids who would be covered under Medicaid after he runs out of money (which will happen this year). So his only other option would be a nursing home. Until he is vaccinated, that is not an option. My family lives in a small home and we have lived a frugal lifestyle. I have no where to put him in my own home and he wouldn’t want to move here anyway. My expenses have also increased as I travel often to see my father and help in any way I can. For those who already live a conservative lifestyle, don’t fall into the trap of planning a retirement budget of 80-100% of your pre-retirement expenses. I am adjusting my approach and setting 150% as my new target. This is causing me to have to completely rewrite my plans. Most elderly people are not going for a walk in the park one day and dead the next. The process can be ugly, time consuming, and expensive. That mini-retirement I was planning may be spent as a caregiver for a parent. If you successfully apply the FIRE principles, people will know it and will come to you for help. Even if they don’t ask, you may feel compelled. Maybe not a parent, but someone close that you care about. Are you prepared for this? (I wasn't) +So I got brave yesterday and bought a house. I bought it at the courthouse steps, paid in full in cashiers checks. Straight after I went around and changed the locks and put a notice of possession with my contacts on the front door. The other labels show that the owner who foreclosed evicted tenants in may this year, the house was winterized by a company, the power is off, there are no appliances. So although there is is some furniture and tons of junk in the house I am fairly sure no one is coming back for it. The intention is to fix and flip asap. + +That said, I'm due to get the deed in 30 days and understand that there is a chance of it all falling through. So for now I'm not touching anything or spending money I may not get back. + +My immediate action list and questions are as follows and definitely would need input. + +Get vacant home insurance, asap ( or do I have to wait for the deed ). + +Get quotes for all professional services I will need. Roof, HVAC, Windows, Trees, re glazing tile and tubs + +Organize utilities and dumpster for as soon as possible after the deed comes. + +Make a plan and identify suppliers for the work I intend on carrying out myself. Paint, floors, appliances, bathrooms, siding repair, Electrical ( family member is electrician ), misc. + +Is there anything else I should be doing at this point ?? +I was close to my FATFIRE number before the market sank and could still low end FAtFIRE/chubby. Was planning on a couple more years to weather recession and get firmer footing. + +And suddenly looks like we are going to IPO and I will have close to double my net worth, but with a 5 year lock up. That is the shares will best over the 5 years. + +I am trying to find out how to think about when I would exit, knowing I may be leaving millions on the table. + +Is it just “once I win the game stop playing” eg I hit my original number? Or is there a real utility to the next million that is worth another year of my life? +My salary doesn’t cope with inflation anymore. During the last three years I only got one salary increase, at that time it was substantial but it doesn’t cope with inflation anymore. Anyone in the same situation? +Like many of you, I got burned by hodling too long through 2017/2018. "Hodl" is a stupid meme for newbs. I learned the hard way. + +So called "fundamentals" ('solid team', 'awesome project', 'upcoming partnerships') don't reflect the price in a company that received its funding before it has ever proven anything (that's the primary difference between an ICO and an IPO). ***Where my REQ marines at?*** + +When this bull run is actually over (and personally i don't believe that it is yet), you probably won't come to accept it until your portfolio is sitting at 50% of its ATH and your "stack" of crypto has become a "bag" you're stuck holding "until you reach XX number again--then you'll sell *for sure*." + +Here's the reality: Once the bubble pops, every crash is going to seem like a "dip" and every "bounce" is going feel like a "this is gentlemen." ***That's how frogs get boiled to death.*** + +Here are some principles you need to keep in mind if you want to walk away from this bull run with a fat stack of cash: + +1. Recognize and accept that you won't sell the exact top, and that--subsequently--your portfolio's "true value" is only what you sell it for--not what it's ATH was at one point. +2. Pick a realistic sum (take your dream figure and subtract 50%) at which you're going to cash out a certain percentage--or all of it--and (here's the important part): ***STICK TO IT.*** + 1. This latter point is most crucial, because as the sum grows and actually hits that number you picked, you're going to be very tempted to leave it in "just a little longer". That's greed talking. If you ask Greed "how much is enough?" the answer is always "a little bit more." Have discipline in this and you'll win. Let greed take over and you'll lose. *If you let greed govern your decisions in a bull market, then you'll let panic govern your decisions in a bear market.* +3. You can't predict the future--so don't judge your past self for knowledge you have today. "Why didn't i buy that coin?!?! it just mooned!" Or "Why didn't i sell before it crashed?!" You know what happened yesterday because it's today--you can't get mad at yourself for not possessing today's knowledge on the day before yesterday. +4. My final and **MOST IMPORTANT** point: + 1. As I said before ***your portfolio is only worth what you actually sell it for***. So do **NOT** focus on ***how much it was*** or ***how much it could have been*** \-- if you make this mistake you will be dissatisfied at turning $1000 into $100,000. If you've only got a $1,000 right now, you're probably thinking "of course i'd be happy with $100k!" -- but when you get there you'll be holding out for 200/300/1 million. In your greed, you won't be satisfied with an enormous return--especially if you keep thinking about how you could have had $1,000,000 if you just "bought that dip" that no one saw coming or "held xyz coin" a little bit longer. ***Focus on what you have today--not what you might have tomorrow.*** + +&#x200B; + +Crypto veterans what other wisdom do you want to add to this list? + +Edit: Some people here seem to think that because BTC is now worth $55k that it would have been dumb to sell at $20k...in 2017. Obviously those are not people interested in making money, and this post is clearly not for them. +TL;DR: For their Nifty50 ETF, DSP Mutual Fund was charging Expense Ratio (ER) of 0.07% from customers when actual ER was 0.16% They were bearing the cost of the balance 0.09%, in order to get a bigger share of the market/ AUM. + +[https://www.moneycontrol.com/news/business/personal-finance/sebi-punishes-dsp-amc-trustees-for-undercutting-scheme-expenses-to-lure-investors-9783961.html](https://www.moneycontrol.com/news/business/personal-finance/sebi-punishes-dsp-amc-trustees-for-undercutting-scheme-expenses-to-lure-investors-9783961.html) + +&#x200B; + +>In probably a first-of-its-kind case, capital market regulator Securities and Exchange Board of India (SEBI) imposed penalties on DSP Investment Managers (the asset management company of DSP Mutual Fund) and its Trustee company (DSP Trustee Co) for absorbing expense ratios of one of its schemes. +> +>The case pertains to DSP Nifty 50 Exchange Trade Fund (ETF), where the expense ratio was 0.16 percent. However, since DSP Nifty 50 ETF (DN50) was launched in December 2021, the fund house charged just 0.07 percent to the scheme as its expense ratio. DSP Investment Managers absorbed the balance (0.09 percent) on its own books. In other words, it showed only 0.07 percent as the scheme’s official expense ratio. +> +>SEBI objected to this saying it violates a circular that the regulator had issued in October 2018. The circular had made it mandatory for fund houses to charge all scheme-related expenses to the schemes only. The circular had said that expenses must not be paid by the asset management companies’ (AMC) books or those of its associates, sponsors, trustees, or any other firm. +> +>SEBI has imposed a penalty of Rs 1 lakh each to the fund house and the trustee company. +This is not financial advice, I'm not a professional, make your own decisions. + +With recent DD about Brazilian shell companies having 1M puts and the Credit Suisse report about Archegos liquidation, it is a fact there has never been any attempt to cover the original 226% SI. Therefore, the current %SI is higher. We don't actually need to know how much higher it is. Being above 200% is enough for very simple ape math. + +Once the liquidation mechanics start, all of it has to be purchased back, continuously decreasing the %SI until it reaches a very low %, maybe even 0% depending on the price. The price will fluctuate during this process. With this enormous buying pressure it has to go up, but it might not do so continuously. As liquidations happen, the price increases which triggers more liquidations. Those might take time and in the meantime dips may happen. During those dips fear and pressure to sell will certainly be above anything we have experienced. + +Now imagine that during this process half of the shares that need to be repurchased are not available for sale. It is as simple as 1. not using margin, 2. not having a stop loss, 3. not having an open limit sell. If this situation occurs the ask price has to go up forever in order to close the short positions. + +That's all there is to understand about the infinity pool. With very conservative math (we only need %SI > 200% to be true), if every other share held by retail is not for sale, the underlying asset is literally the infinite money glitch. + +Remember this in the darkest of times when reddit might be down and crazy things will be happening. + +I fully expect this post to be down-voted into the abyss in the seconds following the publication, you know the drill. + +BUY & HOLD GME +As the title says the programming part of the equation is not an issue for me but I am struggling to find indicators or strategies that will give back consistent returns. + +I tried implementing the most popular strategies and indicators from trading view but the gains were disappointing and when the market went sideways I was losing money. + +Any tips or pointers, courses or books I could read on the subject? This sub has an amazing community btw. Thanks! +📢HUGE plаns incоming! Will bе listеd оn tоp 23 glоbаl еxchаngе, Prоbit, bу thе stаrt оf thе nеxt wееk. With this mоrе influеncеrs pаrtnеrships аrе оn its wау tоо. Аlоng with this, АDS аnd bill in Lоndоn tо bе plаcеd in this mоnth. Sо thеrе’s а lоt cоming, bеttеr nоt tо miss оut оn this gеm - buy nоw whilе mаrkеt cаp is lоw! + +💫Trеndеd numbеr оnе оn CMC! Is bеing pricе trаckеd оn CоinMаrkеtCаp, Cоingеckо, CоinBаsе аnd Stоcktwits whеrе it gоt listеd оn CоinMаrkеtCаp аnd Cоingеckо within 36 hоurs оf lаunch! Furthеrmоrе, HаkunаMаtаtа trеndеd NO.1 CMC, аnd аcrоss multiplе chаrts оf CMC! + +🧧Is аiming tо hеlp thе wоrld аs it hаs dоnаtеd mоrе thаn $20000 tо chаritiеs likе ICRC rеd crоss аnd chаritу: wаtеr. + +⚡️Smаshеd milеstоnеs аftеr milеstоnеs аnd еxcееdеd еvеn thе еxpеctаtiоns оf thе dеvs. Sо fаr 300Т+ tоkеns hаvе bееn burnеd аnd mоrе milеstоnеs tо bе аchiеvеd. + +👮‍♀️Is built оn thе fоundаtiоns оf trust аnd trаnspаrеncу. Тhе dеvs dоxxеd thеmsеlvеs bеfоrе prеsаlе with vidео АMА’s аnd furthеrmоrе pаssеd twо аudits (Dеssеrt Finаncе аnd Sоliditу Аudit) with flуing cоlоurs. With this а CERTIK аudit is currеntly оnbоаrding. + +Links + +🌐Wеbsitе: httрs://hаkunаmаtаtа.finаncе + +🟦Теlеgrаm: httрs://tеlеgrаm.mе/tаtаtоkеn + +🐦Тwittеr: httрs://twittеr.cоm/tаtаtоkеn + +💹CМC: httрs://cоinmаrkеtcар.cоm/currеnciеs/hаkunаmаtаtа +Crypto is incredible. It really is. And I love being part of this space. But I think it would be a magnificent thing if we refocused just for a second away from lambos and turned our attention towards something that can really make a difference on a smaller level for someone we may never know. + +Every year my wife and I pick out a charity on Amazon and donate toys using some of the money we would have spent on each other. I challenge you, EthTrader, the most Gentlemen of subreddits, to do the same. It doesn't have to be huge. We've had years where we could only do $20 each. But I think doing this is worth more than any dollar amount could be. And I know, man- a lot of you guys have families you gotta provide for and your own kids to look after, and I get it. That's ok. But all it would take is you not buying that case of beer one weekend and you can make this difference. + +And it doesn't even have to be a children's hospital- just any charity, any item they have listed. I know when I was a kid one year all I got for Christmas was donated items, and almost a decade later when I finally thought back about it and realized what had happened, it hit me on such a personal level that a complete stranger took the time and spent the money to make sure I got toys for Christmas. + +If we start now, we can get some of the stuff to these kids before Christmas actually arrives. + +To do it, just go to Amazon, and under "Account and Lists", click "Find a List or Registry". Search for something. Anything. And make it happen. + +**Please make sure you pick the Charity's shipping address and not your own lol** + +I just think that if this can be gentlemen for us, then we can make a this is for someone else for just a minute or two, as well. + +[This year we picked a children's shelter.](https://postimg.org/image/94wotiymt/) + +Thank you, Gentlemen. +*TL;DR: Once we are rich we should organize and change the world together, we have already started doing so over at* r/Apephilanthropy *where we will share charity DD, coordinate donations, and potentially also create our very own ideal organization/NGO and fix the worlds problems, together! Come join us!* + +\--------------------------------------------------------------------------------------------------- + +**How to change the world in four simple steps:** + +1. Hodl GME +2. Get squeeze tendies +3. Organize +4. Change the world for the better! + +Title says it all, together we could do so much good with our combined tendies after the squeeze! We would be an unstoppable philanthropic horde of apes the likes of which the world has never seen! + +# Just imagine: + +* World hunger, eradicated +* Amazon rainforest, saved +* Wildlife at the brink of extinction? Not on our watch! +* Stop climate change? Check +* Veteran homelessnes? "You get a house, you get a house, everyone gets a house!" +* etc! + +# The possibilites are endless once we are rich! + +We are already a community dreaming about this and much more over at r/Apephilanthropy, come check us out if you too want to join us in changing the world (**after the squeeze**). + +The plan is to share charity DD so that we don't donate to shills and scammers, coordinate donations (imagine 200 000 apes donating 10 000$ each to any organization!), share charity porn (the best kind) and some have even dabbled with the idea of creating our very own NGO and buy an Airbus for apes to just fly around the world and fix stuff; extreme makeover/queer eye style, just with world problems! + +I have already started dreaming of a better world. Together apes can do great things! As another user once said: + +>Be a better 1% + +Much love, u/A_scandinavian + +&#x200B; + +[Our logo by u\/electriceasel](https://preview.redd.it/vy1x8wpxywx61.png?width=398&format=png&auto=webp&s=3469c1a9011d08885c1c155f5982f61f8db10b62) + +\------------------------------------------------------------------------------------------------ + +Edit: Moved the TL:DR to the top +Per CNBC, the CPI rose 7.5% YoY in January, more than the expected 7.2% which marks the highest level since 1982. + + [https://www.cnbc.com/2022/02/10/january-2022-cpi-inflation-rises-7point5percent-over-the-past-year-even-more-than-expected.html](https://www.cnbc.com/2022/02/10/january-2022-cpi-inflation-rises-7point5percent-over-the-past-year-even-more-than-expected.html) + +The biggest driver was fuel oil which rose by 9.5% in January or 46.5% YoY. +Found an extremely helpful resource in my reddit feed today. This is released by a state university for those who are laid off during this pandemic. I thought I'd share it here for the greater good. +Here is the link to their webpage: [https://www.csueastbay.edu/ocpd/](https://www.csueastbay.edu/ocpd/) + +Hope it is helpful for those who are looking out! +Hidden GEM is here + +&#x200B; + +\- World Class Team (Microsoft, Y Combinator, Nvidia, Visa, IBM, etc) + +\- Already listed on some TOP Exchanges, waiting for BINANCE + +\- High transparency: Update reports every 2 weeks, regular videos made by the Founder on Twitch to show progress + +\- Strong network and top class VCs. Mentioned by Willy Woo, Pentoshi, Birb, Moonwalker, StackingUSD, Martini Guy, etc + +&#x200B; + +Big Buying Opportunity + +&#x200B; + +Radix is a solid and unpumped layer one protocol and will do a full unlock tomorrow! It is a huge buying opportunity before smart contracts and ecosystem come into the play. I personally expect a dump happening within a few days given the fact of there are early investors but it will create a very good entry point for the new ones! + +&#x200B; + +Be part of our community: + +&#x200B; + +JOIN RADIX TELEGRAM GROUP: [https://t.me/radix\_dlt](https://t.me/radix_dlt) + +&#x200B; + +100x potential is the truth + +&#x200B; + +For more information: + +Links: + +Website: [https://www.radixdlt.com/](https://www.radixdlt.com/) + +Twitter: [https://twitter.com/RadixDLT](https://twitter.com/RadixDLT) + +Discord: [https://discord.gg/WkB2USt](https://discord.gg/WkB2USt) +I'm a 30 year old man who owns 50% of a startup valued at $25-30m. + +Looking good has always been important to me, but truth be told I'm likely a pretty average or above average in that regard. I'm somehow fit and tall, my face is about average, but with no one feature that would stand out in a good or bad way. + +I'm willing to spend money (or time) on things that would improve my looks, from doing simple things all the way to plastic surgery, I'm all good with that. I've seen many women that were able to greatly improve their image, but for some reason don't see a clear way as a man to upgrade the way I look... hope I'm wrong. + +What are the key things a man could do to improve the looks, when nothing is holding him back? +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. +This is very bad move by government.. + +RBI to transfer Rs 1.76 lakh crore surplus to government +The transfer sum comprises of Rs 1.23 lakh crore of surplus for the financial year 2018-19 and Rs 52,637 crore of excess provisions identified under the revised Economic Capital Framework (ECF) that was adopted at the central board meet. +http://www.moneycontrol.com/news/business/rbi-to-transfer-rs-1-76-lakh-crore-surplus-to-government-4373701.html +In a big move today, the Reserve Bank of India suspended operations of CKP Co-operative Bank and cancelled its licence. + +RBI reasoned that the financial position of the bank is highly adverse and unsustainable. There is no concrete revival plan or proposal for merger with another bank. Credible commitment towards revival from the management is not visible, observed the central bank. +Today on my street I observed an auction. Three months ago I watched an auction for the house next door. + +They’re both townhouses on roughly 350m2. One a 3x2 and one a 4x2. I’d view the 4x2 as in a more desirable position on the street even if they were the same size. + +Three months ago for the 3x2. there were roughly ten bidders and about 7-8 neighbours. The bidding was solid between 3-4 bidders at the pointy end. The house sold for 1.16m. + +The REA who also lives on our street went door knocking trying to drum up business and also listed the second house. + +Today the same neighbours were out. But with three bidding families. The opening bid was at the lower end of the range. The second and third bids were vendor bids. 4th being 1.02m. The auction was called passed in. REA went in and reopened at 1.05 which was accepted. + +This is an unadjusted decline of 9% in three months. More considering the desirability of the second property. + +Purely anecdotal. The REAs looked pretty dejected. Personally I was reminded of how punchable auctioneers are. + +For context I’m in the Melbourne Eastern suburbs. + +Edited: for pedants with low mental acuity. +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) +Whats up cucks.. + +&#x200B; + +On this national day of mourning, I thought we might get a discussion going on one of the topics that comes up again and again in the daily threads. We are living through a period of fast paced interest rate hikes and that *(amongst many other things*) is playing funny buggers with our beloved pennies. + +&#x200B; + +Here is some little pics I made recently, charting the interest rate decisions onto a few charts. (*Apologies if the images are shit on mobile*.) + +&#x200B; + +**XJO -** + +&#x200B; + +https://preview.redd.it/f1cpxw11oap91.png?width=1366&format=png&auto=webp&s=551f85fc70cc9e44663dd321b363a6b804afd4c2 + +**XEC** + +&#x200B; + +https://preview.redd.it/k1ii5od4oap91.png?width=1366&format=png&auto=webp&s=c6d41457759b8435468b59ea94546cf5a64bdbe7 + +**XSO** + +&#x200B; + +https://preview.redd.it/na0jikh6oap91.png?width=1366&format=png&auto=webp&s=ee70c125c5b766472e20a2d1bf429e526efcc413 + +The discussion here is what impact are these rate hikes having on the stonks we love? + +&#x200B; + +Enjoy your day off if you have one fucko's... +Welcome to the Daily General Discussion thread of /r/EthTrader. + +*** + +Thread guidelines: + +- Please refrain from discussing non-Ethereum related tokens here. You are welcome to discuss altcoins in the Daily Altcoin Discussion thread. +- All [sub rules](https://www.reddit.com/r/ethtrader/about/rules/) apply here so please be familiar with them. + +*** + + Resources and other information: + +* Newcomers who have basic questions about Ethereum can find answers by visiting /r/EthereumNoobies or our Ethereum Education wiki page, [see here](https://www.reddit.com/r/ethtrader/wiki/education). + +* To view live streaming comments for this thread, [click here](https://reddit-stream.com/comments/auto). Account permissions are required to post comments through Reddit-Stream.com. + +*** + +Enjoy! + +I have a mother and son who has helped cleaning my house for the past 10 years. + +The son started as a teenager and now he’s an adult. I sense that he’s doing house cleaning to help his mom and whole family (younger siblings) as mom doesn’t speak much English. They are hardworking, don’t take much vacation, and generous too. When I lost my dog, the mom came over and hugged me, crying together. When I gave birth to my son, they gave generous present that is probably at least half of their paycheck. + +Today, I found out that they don’t have enough money to buy Christmas tree. I happened to have extra and gave it to them with extra Christmas bonus (and salary raise). + +I am not sure if it’s too late for him to go to college and his mom probably needs extra help so it’s not feasible. What kind of help that people like me can help to provide upward mobility for someone like him? If I start charity, I would like to help someone closer at home really. +If you want to add your name to the list of retail investors that are tired of Hedge Funds in the United States operating with Bernie Madoff's (banned in several countries) method of PFOF/ Payment for Order Flow, just follow the link and spread it around. [Say no to PFOF.](https://www.urvin.finance/advocacy/we-the-investors-pfof-sign-on?intercom_uid=UStPWjFoTWo5WFlSajJweXo3K1pOMXZrK3UzRlpoeVJCcUEvdkwxOXNBdC9IbUNmdHZ4clY0eG1EaFBESzU0T3NUUGpTcEExY3I2c2lFS1RkU0ZzZTVkWUQ0VVRuRm9jd1RFL0xqeGtqeVM3N2pUaXQ3V1k0cXN1WmMyYzBmL0MtLUkxZ2s0YnhDRXE2M2htc3NqNXVXTWc9PQ==--09927174b3777ec61b6869d3cbdd773ffba999f6) + +Skimming money that doesn't belong to them for them to run your orders through darkpools and ultimately disrupt fair price discovery while manipulating everything else. We need to stand up to cutting off vices of their liquidity. +Started my investment journey in January but honestly was able to continuously put money in starting May. Currently have 5k invested with projections of 200$ a year. Made some mistakes along the way so I don’t think I’ll see that 200 but it’s motivation for next year. + +New goal is to have 15k invested by next summer while also growing my emergency funds. 600-800$ a year will be a game changer for my DRIP and compounding. +I’m looking into doing the BRRRR strategy and have only seen amazing stories/how profitable it was with no money invested. + +I’m curious to hear stories of people who lost money with this strategy and what lessons they learned. I appreciate any input! +The government is pumping out the biggest stimulus* in the history of Australia with Jobkeeper, JobSeeker, business handouts and the like, but are people actually spending? + +Seems like more people are simply saving the money to have more liquidity or are paying down existing debts as a precautionary measure during this crisis. If that is the case, wouldn't that just lead to a self-fulfilling prophecy and drag out this downturn even longer? + +Another thing to note is that it's all well and good to have this money coming through, but when most places are shut down, where is the government expecting people to spend this money? + +*stimulus/spending/whatever semantic you use in your argument +I'm in my mid-30's with about $2M in NW, almost all in stocks (\~35% S&P, \~65% tech index funds). I work in tech and my income is also mostly in company stock. This has worked out really well for me so far, but I know that past performance is not an indicator of future results and that I'm wayyy over-allocated on tech stocks, especially since my income is highly correlated with my investments. + +I'd like to diversify, but I want to keep a high-risk high-reward allocation. Are there any investment opportunities that are relatively uncorrelated with typical stock index funds? One thing I'm considering is REITs, since I don't own any property. + +Also, I'm guessing crypto is going to be a popular suggestion. To be honest I'm not a believer in crypto so I'd prefer to stay away from it. + +EDIT: I appreciate all the suggestions so far! For those wondering why I'm so focused on low-effort investment opportunities: my current job pays extremely well but also requires a ton of effort. Given my current net worth, I don't think putting a lot of extra effort into investing would give me better returns than spending that extra effort on my day job and just doing low-effort investing. I understand that others might not be in the same situation and for them there are many great suggestions in the comments. + +IMO the best options that I've heard so far for someone in my situation are: + +* Better diversification of stocks away from tech by buying VTI / VTSAX +* Buying a primary residence (not a great option for me personally, but a great choice in general) +* Buying real estate (for little effort, REITs in a Roth IRA, but sounds like there are much better opportunities with some more effort) + +EDIT: Two more clarifications: + +1. My goal is high reward *in expectation*. I could go to Vegas and put everything on black at the roulette table. That would certainly be high risk and has the potential for a high reward. But it's a losing play in expectation. I want something more like being the casino in that scenario -- you might lose big or win big on any single day, but it's a profitable play in expectation, especially in the long run. Stocks have this property. +2. My other goal is *diversification* of high-risk strategies. Leveraged ETFs would amplify my risk/reward and I'm going to consider them, but they are still highly correlated with my current investments (non-leveraged ETFs). +I am single, never married, but I’m seeing friends start to divorce, when 10 years ago they seemed perfectly committed. And it’s dirty. +I am nowhere near getting married although I guess I’d like to one day. +That being said, how are my rentals protected in a divorce? My first is in my own name, my current second house is as well that will eventually become a rental as well. + +How does everyone protect their properties? +Every few weeks there seems to be a lot of discussion about the purpose and direction of this sub and what people want to get out of it. Based on the [post from yesterday](https://www.reddit.com/r/fatFIRE/comments/msrdkk/proposed_action_items_to_correct_the_direction_of/), there are lots of opinions. + +Since the verified flair doesn't really get used, I wanted to create a new post just for verified members so that your opinions could be a bit more prominent. + +Several opinions by verified users were expressed in the other post with many agreeing that quality getting worse. Some were: + +* Having segmented content through post flairs or additional subs (post-fire vs early stage vs middle stage). +* Preferring advice on managing money rather than spending it. +* Having a verified only post day or stickied post. +* Banning non-fatFire people and larpers (two people commented about this) + +I agree with the above and I'm here because I want have discussions with people in a similar cohort that have a FIRE mindset with a higher yearly spend than other FIRE groups. To me this means that your end goal isn't to make a lot of money just to make a lot more, but to make (or have) a lot of money and actually RE. There are some people who want to keep working instead of retiring and they can add value as long as posts veer off-topic too much. It doesn't bother me when there are posts made that aren't relevant to my life, but it's frustrating when so many are unrelated to FIRE, from trolls or larpers, don't follow the rules or have already been answered. + +What do all of you other verified members want out of the sub? What do you think should be done to keep the quality of the sub high as it grows? +...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. +A friend stuck ~£120,000 into a Russian steel company. + +Before the war the shares were valued at roughly £6 each but he bought in at only £0.85. + +The shares are now worthless as the country has been hit with sanctions. + +Will he ever recoup his money? +An odd post but I find this really interesting, what are the silly things people waste their money on? + +My housemate often gets milkshakes delivered by UberEats +I got a job! I’ve been unemployed for about a month and half and have been living off of my savings until I finally got a call back and finished my training! Happy new Year! + +Edit: Thanks for all the comments! Didn’t realize this post would get attention lol and also thanks for the award! +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. +A throwback to maybe Oct/Nov of last year where Bitcoin was having its height of the run and everything seemed primed for 100k EOY. People were happy and euphoric. The only complaint and the big one was to have bought more. Then we go to end of Nov and the first people started calling for a 80% dip so that they can load up. + +Where are those people now? Well they are probably too scared right now and the majority likely already left the market in January of this year or so. + +It's easy to call for a 80% dip but it's hard to stay for it. The dip won't be sharp down on one day and sharp up the next one. For most altcoins it will be a question of survival. +I (32) am looking to buy a house near Köln/Düsseldorf area. I need your suggestions for a few things. + +Here’s a brief intro: +- €50,000 saved up cash +- about to get my PR +- have a permanent job contract (€100,000 per year basic salary) +- I’ll be living in the house for 10 years +- I have an additional investment portfolio, which I will not touch. + +Here is what I am looking for: +- 4/5 room house with a yard + basement + garage +- some greenery around would be nice +- energy efficient and in good shape + +Here are my questions: +- Can I afford to buy anything like this at this point? Or should I save up some more first? +- What range of interest rate should I expect? +- What is the maximum can I afford? +In a situation that would be humorously ironic if it weren't my money at stake, a title/escrow company completed the sale of my house last Friday and began a wire transfer of the funds. + +The signed contract had our correct account and routing information. However, the company reached out to my wife told us our ABA was incorrect and updated the routing number to something else. I bank with Schwab and they have a different ABA for brokerage accounts, so I believe they decided my fully-correct information was wrong because they saw the word "Schwab" and incorrectly assumed I wanted money deposited directly into a brokerage account (even though the account # has different length of digits). + +So that money went to "I don't know where." It's been 3 days since we realized the money wasn't going to show up, and the title company isn't being very communicative on their progress. + +What exactly are their options for getting my money back? Are they (and me) screwed? + +What should I be doing? I'm considering filing a police report and hiring a lawyer if this isn't resolved next week. + +**EDIT**: Quick update: They have "found" my money. It's funny how fast things are resolved when you tell them "I am now seeking legal advice on this matter, please only contact me via email so I can keep record." + + +Update 2: The money appears in my account! It might still be pending, but I can visibly see the number! +If you’re reading now, you may be a few minutes / seconds away from the next jackpot. Countdown on the website: https://www.luckinutoken.com/ +Telegram: https://t.me/luckinu + +200BNB were already distributed among 14 winners for the last 2 lotteries: + +First Round Winners (131 BNB ~$52,400): https://bscscan.com/tx/0x2fb291dc332f2611b847f17e6f5fa7f46e2ebdc7ccffffb73f75aad34e63ccd5 +Second Round Winners (51 BNB ~$20,400): https://bscscan.com/tx/0xf1788f74be4d51649be4b314b7f41fa8507c534038390d95658342ce7dc44302 + + +How it works: +A countdown is running, once it's over, the last 7 buyers win a jackpot. It’s paid instantly in BNB, avoiding the price dump dynamic after lottery is paid on other tokens. + +One second is added to the countdown for every 4,000 token purchased. So price action not only increases lottery but also push it back. + + +More than a lottery: + +- 3% Liquidity pool fee + +- 5% redistribution to holders. You can see your balance increase just by holding + +- 50% supply burned. 0xdead gets reflection so more burn. + +- 2% Lottery fee + 3% extra lottery fee if buy when coutdown < 1hour + + +To participate in the lottery you just need to buy 20,000 tokens, if you're good in timing you'd get in the last 7 buyers. + + +Check the countdown right now 👉 https://www.luckinutoken.com/ + +Buy on pancake: https://exchange.pancakeswap.finance/#/swap?outputCurrency=0xB2f7e860E302b18819970ceA41BcFc7349834e81 + +Contract: 0xB2f7e860E302b18819970ceA41BcFc7349834e81 + +Twitter: https://twitter.com/luckinutoken + +Safu: +Liquidity locked: https://dxsale.app/app/pages/defipresale?saleID=2698&chain=BSC + +dev wallet locked: https://dxsale.app/app/pages/dxlockview?id=0&add=0xA3F1f7D23D1fFb0143991a5e50bE4cd1B0dc5cD7&type=tokenlock&chain=BSC + +Ownership renounced: https://bscscan.com/tx/0x1ced850a671d204de031e452b7739e963487cd711ab99814ba24ba96ccbf9ea3#eventlog + + +Telegram: https://t.me/luckinu +And what should buy pressure do? + +🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀 + +Every broker that handed out IOU’s opened themselves to 3x the risk. You could at least make them go buy them for realsies. + +The time to expose this shitshow is the greatest time to be alive. Expect crime. Don’t risk more than you can lose. DRS your shit for your shareholder rights. + +Edit: Maybe I’m forming wrinkles, but even if shares are not ‘bought’ by brokers, they still have to go out and balance their ledgers instead, which ultimately means going to remove shares from the DTCC. +Sorry if this is not the right sub, but I have not been able to find a good answer anywhere else. I am in early 30s and a mother of two small kids. I used to be able to sleep whenever, wherever I like and since the start of 2022, I suddenly started having insomnia. It started as having trouble falling asleep in the night, and now it is easy to fall asleep but I will wake up in the middle of the night and have trouble falling asleep again. + +I have talked to my doctor and he said, for people in your age who have trouble sleeping is due to either sleep habits/hygiene or stress. I now adjusted my life so much and live a very healthy lifestyle (no coffee/soda/alcohol and lots of yoga). And I am ONLY stressed about my insomnia. I feel very lost and I think the more I research insomnia, the more anxiety it brings me... And my mind will race at night and it is so painful. + +I know this sub has the smartest people with lots of resources. I am sure you all have gone through periods of stress and health issues, which may bring sleep problems to you. Please enlighten me-- what is the best way to resolve sleep issues, I will try and invest in any solution. +Anyone else worried by the near term impact lockdowns on the east coast will have on the broader AU market? + +I have visibility into a few businesses and their NSW/VIC sales + revenue have taken an absolute haircut (20% in most instances - discretionary e-commerce) which means half year and full year guidance for FY22 will probably come in on the lower end of town. + +E-commerce isn’t getting the same sugar hit it saw during last year’s corona shitfight and It’s a winning industry in this sort of environment. I’d imagine almost all other industries would be bleeding pretty hard in comparison. + +What are all you smooth brains seeing out there in actual business performance and is anyone worried about the current conditions? +With Sticky supposedly looking to jump quickly into GameStop's NFT marketplace, understand what this means. It's not going to just be a marketplace for those in the know, or those already in that space that already understand NFTs. It's going to be a marketplace where every major company that wants to create NFTs can. They can hire GameStop to create them (they may even hire those of you who signed up to create for the marketplace), or use the marketplace to profit from them. As they profit, so does GameStop. I understand the Apes here have a grudge against Sticky, but if Sticky decides to use GameStop's marketplace, it will be a roadmap of what other established companies will want to do. Especially if it works. Right now their options are slim to none, with no public company having a marketplace. That makes it somewhat hard to create deals or work with these companies/marketplaces. THIS IS WHAT WE NEED. A marketplace with an established brand, a brand that is on the open market, a brand that is trustworthy with a group of executives that have worked for FANG. It's all coming together. The profit these marketplaces can make off percentages is in the billions. + +With that said... + +This is why Ryan Cohen has been quiet as possible. He knows it's a race. Not a race to the moon literally, but a race to the fucking moon (you know what I mean fellas). If they can be established as the first "mainstream" nft marketplace, for gamers, for collectors, it's over. A marketplace for major companies to work with, since GameStop already has name recognition and is trustworthy and accountable. This is the type of move that repositions GameStop into a whole different sector. This is also the type of profit that breaks shorts entirely, no holding and waiting, no beating retail at the waiting game, because with these type of profits, it's over. We aren't talking about an announcement, we're talking about the possible results. + +And on top of all this, if they decide to make their own coin that gives incentives to use their marketplace, it's over over. These type of coins are top 15 market cap and can rename stadiums. I'm talking market caps larger than GME and they are literally just coins that incentivize using a certain marketplace. When this finally hits others, it will hit like a brick... by brick. + +&#x200B; + +These guys are geniuses, because you couldn't have a company more made for virtual collectables than GameStop. Everything in these shops are games and collectables. If Ryan Cohen sat there last year knowing he was going to move into NFTs, a marketplace, and bought his shares with this as his plan, that is insane. I can't think of a company that was absolutely made for this type of marketplace. And this is why hedgefunds are fucked. Even us, the Apes, couldn't have predicted this type of opportunity, and we love the fucking company. Now imagine if you hated it? God this is going to be catastrophic. They have a billion dollars plus an extra 300 million laying around, still unused, to promote, push, make deals, and get THIS marketplace as the premiere NFT spot to buy and sell NFTs. Say it with me, 1.3 billion and no debt, with a new marketplace on the backburner that can include an incentive coin and more. Jesus. + +&#x200B; + +*\*Edit: This headline was posted on Benzinga, sourcing Bloomsberg. As of now this has not been confirmed as true, although the Sticky CEO has openly stated many times he wanted to work with GME. TLDR: If major companies decide to use GameStop's marketplace, it's huge, as NFT marketplaces are extremely profitable. With all that said...* [*DRSing the Float Triggers MOASS*](https://www.reddit.com/r/Superstonk/comments/rqj4vt/drsing_the_float_triggers_moass_not_the_nft/) +Negative news is getting posted at a higher frequency compared to the past months. If the research is disproven it will be deleted regardless, **anyone posting false info will be permanently banned, good or bad.** We can't research every ticker that we are not invested in. You can always message an active mod directly if it's urgent. + +**We do not allow false information to spread intentionally. Please take caution on the influx of fake accounts.** Almost the entire world is aware countless people browse Reddit for information. + +***Not every post has good intentions.*** + +* The subreddit went from 100k members to 1 million only this year since its creation in 2008. We can't see everything that happens. Having civil discourse is good, two perspectives are better than one. +* Please leave concerns with r/pennystocks or a new idea in the comments. Hope you all are having a good day! +I can't even comprehend being able to afford a deposit let alone finding a house or apartment to purchase. It feels like the only thing I can focus on is hoping rent doesn't go up and saving as much as I can all while trying to survive and maintain good mental health? + +I simply just don't understand the interest rate mortgage conversations I often see on here and it honestly makes me feel so behind. Offset, refinance, lenders, rates, I don't even know what I am saying. + +I bought a block of cheese and a can of men's body spray yesterday and I was asked to produce $17. I don't know what needs to change but this isn't living Barry. +Myobu has over 500k in dev funds the contract taxes 6% on every buy and 5-10% on sells. So they have enormous ETH funds for development and giveaways and events. + +&#x200B; + +>Contract: 0x75d12e4f91df721fafcae4c6cd1d5280381370ac +> +>Website: [https://myobu.io/](https://myobu.io/) +> +>Telegram: [https://t.me/MyobuOfficial](https://t.me/MyobuOfficial) +> +>Twitter: [https://twitter.com/MyobuOfficial](https://twitter.com/MyobuOfficial) +> +>Coingecko: [https://www.coingecko.com/en/coins/myobu](https://www.coingecko.com/en/coins/myobu) +> +>Buy on Uniswap: [https://app.uniswap.org/#/swap?outputCurrency=0x75d12e4f91df721fafcae4c6cd1d5280381370ac](https://app.uniswap.org/#/swap?outputCurrency=0x75d12e4f91df721fafcae4c6cd1d5280381370ac) + +&#x200B; + +Myōbu will have F.U.R. (Fun, Useful, Rewarding) program. It’s called: “The Fox Pit”. + +**Info about "the fox pit":** + +Imagine, if you will, that each $MYOBU token represents one fox in your army. And you are entered into a tournament, every second week, where your foxes battle against the foxes of other holders. And whichever army wins, gets a share of the Fox Hole Fund for that week! Also don’t worry, since Myōbu are celestial beings, they can’t be killed, but they can definitely fight! + +**Fun, useful and rewarding —That’s what the Fox Pit is** + +Here is how it works: On a bi-weekly basis, every $MYOBU holder will be placed in a bracket, depending on the size of their army (amount of $MYOBU tokens). + +0.5% of the total weekly volume (7 days of that week: Saturday-Saturday) from the Fox Hole Fund will be distributed to the victors. The winners are given ETH directly to their wallet. Our charming “Myobu Foxies” will receive eligible wallets from the leadership team and they do the random draw live on Twitch via shared screen with our community (surprise surprise…Any clue who the Myobu Foxies are?). + +You’ll all see the wallets per bracket from which our Foxies will draw the happy winners. Here is how the brackets work: Top 1–50 holders “fight” for 45% Top 51–250 holders “fight” for 30% Top 251–500 holders “fight” for 15% + +500+ tokens holders “fight” for 10%, Only holders with a minimum of 50 million $MYOBU token are eligible for the Fox Pit. + +*Important: Holders who sell during the week of the event are excluded from the Fox Pit.* + +For example, suppose total weekly volume is $1,000,000. This means $5K — based on 0.5% of weekly volume — goes to the Fox Hole for eligible holders and potential winners. + +These would be paid out to one lucky holder within each bracket as follow: + +>Top 1–50 holders “fight” for 45% of $5k = $2,250 +> +>Top 51–250 holders “fight” for 30% of $5k = $1,500 +> +>Top 251–500 holders “fight” for 15% of $5k = $750 +> +>\>500+ holders “fight” for 10% of $5k = $500 + +Holders “fight” for 10% of $5k = $500 + +Another example with a total weekly volume of $10,000,000. + +This is not an unrealistic figure considering that we had more than $5,000,000 of volumes during the launch of the token on day one. These would be paid out to one lucky holder within each bracket as follow: + +>Top 1–50 holders “fight” for 45% of $50k = $22,500 +> +>Top 51–250 holders “fight” for 30% of $50k = $15,000 +> +>Top 251–500 holders “fight” for 15% of $50k = $7,500 +> +>500+ holders “fight” for 10% of $50k = $5,000 + +The amount you could win will increase with the weekly volume, as the funds in our Fox Hole increases. + +The Myōbu team agreed to remain flexible with regards to all parameters and the occurrence of the Fox Pit event. They aim to involve community ideas for anything they are doing such that we remain open to suggestions and improvements. + +They plan also with special contests created for each bracket and extra prizes given out in the form of NFTs and creative rewards once these are ready. + +**All you have to do to participate is hold $MYOBU, and obviously, the more you hold, the higher the bracket you will be in and the greater chance you have to win more!** + +**May the Foxes be ever in your favor…** +Hello fellow Apes. I'm still a little shakey from what I just heard. MODs, I can provide proof of the voicemail for verification. + +So I'm at a bachelor party with some friends and was on a boat all day (caught a 20 lbs Chinook btw). When I finally get back on firm land, I checked my VM and i had a message from Fidelity Investments that they where giving me a Courtesy Call because I'm a GameStop (GME) investor and they are concerned about my investments. + +These guys really fucked up! They offered to liquidate my GME position for 10% on top of the current market price. + +WHAT IN THE ACTUAL FUCK!!?? + +They know they done messed up and are trying HARRRD to to fix their mistake and disguising it as a lame attempt to "protect" us and our investment decisions. + +The rep said that because I've been transferring to Computershare they are reaching out to others as well. + +We are getting so CLOSE! + +DRS the synthetics! NFA and again, i can provide proof + +Be well fellow Apes and it's time to get back the bachelor party +https://www.cnbc.com/2020/03/02/robinhood-says-its-experiencing-a-system-wide-outage-as-markets-rebound-in-heavy-volume-monday.html + +Robinhood is down, again. For the billionth time since their inception. As of the time of this writing, their website loads a blank white page, and their app is showing badly delayed information. It's been like this since before 9:30AM. + +I've seen Robinhood go down in the past, but never for this long and never at a time that was so important in the markets. At this point, I have a feeling there will be a user rout and many, many accounts will be closed, not to mention the inevitable mass of lawsuits coming their way after this. With every major broker now offering free trades, is there really even any reason to use this platform anymore? Is this the end for Robinhood? +VTI is a no brainer however TQQQ raises some concerns. If I'm comfortable watching my TQQQ position fluctuate wildly is there any reason I should pick QQQ over the 3x leverage version? Again to reiterate I'm only 21 and I plan on holding for a very long time. I think TQQQ has the potential to give me a serious leg up over the years, what do you think? + +And if not TQQQ what other leveraged ETF would you pick? +Google Sheet: [https://docs.google.com/spreadsheets/d/1jhSaPtOosJFlcgW4oTzcEIW2QARjPobHjyowF609aLc/edit?usp=sharing](https://docs.google.com/spreadsheets/d/1jhSaPtOosJFlcgW4oTzcEIW2QARjPobHjyowF609aLc/edit?usp=sharing) + +Hi guys, + +I was trying to find a good investments tracker but was not able to find a free one. Some people have shared google sheets here but either the link was down or it was not to my needs. Hence I thought of creating one for myself and sharing the same with the community. In order to use it, please sign in to your google account then go to Files>Make a Copy. Sheet 2 has graph for net worth. Please do not update any values here. Also, sometimes google finance API doesn't work, just refresh after a while if you see errors. + +It uses google finance API for getting live updates for stocks and mutual funds. One cool feature that I've added and was't able to find anywhere was to graph my daily net worth without me putting in the data manually. Most trackers need you to put date and net worth manually to graph. I wanted something automated so I wrote the script for it and added a daily trigger for it to run automatically. If you want to change the fequency, make sure you create a copy of this spreadsheet and make changes in Extensions>App Scripts. You can see the code and trigger here. You will also need to provide this script app access to your copied sheet or it won't work. + +I update this sheet on a monthly basis usually when I get my salary and invest money. If you would like me to add a new feature, please put a comment here. I'll implement it if I feel the need for it as well. Hope you guys find this useful. +Google Sheet: [https://docs.google.com/spreadsheets/d/1jhSaPtOosJFlcgW4oTzcEIW2QARjPobHjyowF609aLc/edit?usp=sharing](https://docs.google.com/spreadsheets/d/1jhSaPtOosJFlcgW4oTzcEIW2QARjPobHjyowF609aLc/edit?usp=sharing) + +Hi guys, + +I was trying to find a good investments tracker but was not able to find a free one. Some people have shared google sheets here but either the link was down or it was not to my needs. Hence I thought of creating one for myself and sharing the same with the community. In order to use it, please sign in to your google account then go to Files>Make a Copy. Sheet 2 has graph for net worth. Please do not update any values here. Also, sometimes google finance API doesn't work, just refresh after a while if you see errors. + +It uses google finance API for getting live updates for stocks and mutual funds. One cool feature that I've added and was't able to find anywhere was to graph my daily net worth without me putting in the data manually. Most trackers need you to put date and net worth manually to graph. I wanted something automated so I wrote the script for it and added a daily trigger for it to run automatically. If you want to change the fequency, make sure you create a copy of this spreadsheet and make changes in Extensions>App Scripts. You can see the code and trigger here. You will also need to provide this script app access to your copied sheet or it won't work. + +I update this sheet on a monthly basis usually when I get my salary and invest money. If you would like me to add a new feature, please put a comment here. I'll implement it if I feel the need for it as well. Hope you guys find this useful. +Do economists know what conditions/policies allow for greater social mobility? It seems that some studies seem to show that the U.S. ranks behind other countries in the likelihood of someone to improve their socioeconomic status. Are the reasons for this known? +Dear IBKR Canada Existing and Prospective Clients, + +You may have heard that Canadian Imperial Bank of Commerce (CIBC) launched a new product for investors who want to own a fraction of Amazon.com stock while hedging their Canadian dollar currency risk. + +This product is modeled on American depositary receipts or ADRs used by investors for many years to buy shares of non-U.S. companies on a U.S. market center. The CIBC sponsored receipt or CDR represents 1/200 or 0.005 of a share of Amazon. Although a "new" product in Canada, it is hardly an "innovative" one in our opinion. It is intended to compete with the U.S. fractional shares first made available in Canada by IBKR in 2019. + +The product claims the added benefit of providing a Canadian dollar currency hedge. A CIBC executive was quoted as saying that this feature allows investors to "own the company, not the currency". Unbeknownst to him maybe, IBKR's Canadian clients can already do this easily. + +At the core of IBKR's mission is our relentless drive to provide clients with sophisticated technology to easily manage and "unbundle" the currency risk in owning U.S. listed securities. + +When IBKR clients trade a USD denominated product in their margin account there is no need to convert the account's CAD denominated cash into USD to ensure trade settlement. We create a loan for those USD funds so clients can benefit from a rise in both the CAD and in the underlying share price, which trades in USD, if that is where they see these respective investments going. It is not one over the other unless clients choose to make it so. + +Because we have offered Canadians the ability to "own the company, not the currency" for close to 20 years now, we hesitate to qualify the CIBC CDR as "innovative". + +We do agree that IBKR is the only Canadian broker that allows its clients such flexibility. + +Indeed, Canadian brokers force you to convert your CAD into USD to settle the USD denominated transaction. As a matter of fact, one well known Canadian broker may currently be able to sustain its zero-commission offering by charging its clients currency conversion fees on CAD to USD conversions (and vice-versa). + +In closing, the CIBC CDR is only available on Amazon shares, and it is anticipated to be also made available on, at best, a handful of U.S. listed issuers and this is pretty much the same for the U.S. fractional shares offering of other Canadian brokers. + +Let us remind you that IBKR offers fractional shares on over 10,000 U.S. listed stocks and ETFs. + +Although it is always interesting when a new financial product is introduced, we believe it is more newsworthy when the new product is also innovative. On this note, IBKR has been, over close to 2 decades, a consistent although discreet financial technology pioneer helping the Canadian investors trade like pros. + +It is our sincere hope you will continue to benefit from our transparent suite of services and if you are still not a client, maybe this will nudge you to come and trade with us soon. + +Don't Play Games - Invest with a Pro. + +Warm regards, +Xxxxxxxxxxxxxxxxxcc +Managing Director +Interactive Brokers Canada Inc. +I am sure covid caused many people to foreclose but we are seeing even less foreclosure than we did prior to covid + +Forebearance ended a few months back yet not many foreclosures + +&#x200B; + +why is that? +This is just a bit of a warning on buying coins that look great. I basically made a coin like the squid game coin as it looks great but I can only sell a very small amount at a time. + +&#x200B; + +[This is the token page on viperswap ](https://preview.redd.it/a0z3yqiv50281.png?width=1871&format=png&auto=webp&s=7914382e82bc3086477d70c5fe2bcd6160cded54) + +So if you head on over to a website called [https://tokenJenny.one](https://tokenJenny.one) then you are able to create your own tokens on the Harmony ONE network. It will cost a little ONE in gas to mint the crypto I used [https://cryptoroyale.one](https://cryptoroyale.one) to make some ROY sent it to MetaMask and then trade that for ONE in [https://viperswap.one](https://viperswap.one) Done now I have made my first crypto and I add it to ViperSwap so I can add liquidity. With this first crypto I added liquidity in ONE at a 1 to 1 basis then I used 0.01 or 0.001 ONE at a time to buy my crypto for roughly 100 transactions this ups the price a little and so I leave the coin and over about 2 weeks the market brings it up. I sell a little to recover all that had gone to gas and this crashes my crypto to a very low price. Next test is creating coins that add liquidity too each other here's a glimps at them all. + +&#x200B; + +[6 Different cryptos all given liquidity too each other and given value form the Liquidity in ONE or USDC \(two named KWP lol\)](https://preview.redd.it/xlsi41lf90281.png?width=1843&format=png&auto=webp&s=689c7ba22351bbc1b79de004631fd59c920951b2) + +&#x200B; + +[In doing this I have managed to add about 20 ONE into liquidity of ONE and my KWP coin and now can sell about 250 of KWP at a time, this is what happens when you do sell a little ](https://preview.redd.it/33sse754h0281.png?width=1877&format=png&auto=webp&s=5576fceb2d313db5c17b84520cfcdfe7a03d4333) + +&#x200B; + +As you can see I had a lot of fun creating all of these but none of them really did very well so I then thought well I need to start with a better liquidity ratio so I create notbitcoin I then add 0.0001 to 1 ONE and I buy a few transactions of 0.001 ONE getting less and less NBTC each turn, now I have a value better than I had before so I start to add liquidity from the coins I have made making sure to work out the math on the current values as close as can with a small amount and then bang I add Billions in my own cryptos which soar the Liquidity and the value of the new coin I have made. If I sell any of the coins that I have added this will drop the price dramatically due to me being the only owner. Plus I can only sell about 0.0002 at a time into ONE due to the low amount of liquidity in this coin and even that small sale would crash the value. + +&#x200B; + +Its crazy to think this is possible and this just shows you anyone can make crypto and make it look like it has a huge amount of value if I now make sure I buy a little every day and not sell for a few months next year this could be the next doge and will basically follow the market. I could start the trend the not crypto's instead of meme coins. Stay safe all hope this educates you that it really is too easy to make a crypto and just as easy to make one that looks amazing. Hope you all have a great weekend. + +&#x200B; + +EDIT: ok this is what I wake up to today + +&#x200B; + +[210 billion coins in exitance and 2 million value with half a billion in liquidity \(due to the price\) work out that market cap :0](https://preview.redd.it/kleo676ka4281.png?width=1869&format=png&auto=webp&s=9ea93ab15573e358cf4ca5bb5098cd3bf070faa3) + +&#x200B; + +&#x200B; + +[little update looks like one of the mystery buyers got cold feet lol it was up to 321 Million at its peak](https://preview.redd.it/ujwivnc547281.png?width=1901&format=png&auto=webp&s=e1516a6e2df8fad61bccc55d47e91641f32858ee) +It seems, of the oil imported to the US, [only 3%](https://www.aljazeera.com/news/2022/3/3/how-much-oil-does-the-us-import-from-russia) comes from Russia. Gas prices have been on the rise for various reasons, but seemed to take a steep rise with increased worry about Russian sanctions extending to cutting off Russia's primary source of income. What are the main factors that drive gas prices? +I live in Los Angeles, and I always hear stories about artists and hippies living in areas that now only upper class and upper middle class working professionals can afford. Why wasn't the city able to maintain an affordable cost of living over the last couple decades? + +🐕‍🦺 Such $Shibby, much DAO, very wow! 🐕‍🦺 + +We had an amazing launch less than 72 hours ago, with a community growing stronger every day now with over 6000 Telegram members & 10.000 holders. We got listed on Coingecko & and applied Coinmarketcap, and we're rolling out a targeted marketing campaign and a search to #findSHIBBY that will bring next-level exposure to this project from the wider crypto community. + +🔥 6’000 organic telegram members. + +🔥 10800 token holders + +🔥 Awesome community in TG + voice chat open 24/7! + +🔥 $1M to 19M market cap in under 24 hours! Now on a Dip, APE in NOW + +❗️ and the project is not even a 3 days old - this is just the beginning of exponential growth. + +➡️ **What has been done right now:** + +▪️ We enrolled paid ad campaign on Poocoin + Reddit + Facebook + Instagram + Youtube + Google + 4chan + Coingecko + +▪️7 Youtube Videos commissioned + +▪️Live Radio Shibby lofi 24/7 in live in 2 days + +▪️SHIBBY stickers and GIF's have been comissioned + +▪️Two PR articles have been submitted to PR marketing agencies, with luck we might get into a Newspaper. and if not we'll keep trying + +▪️we have a beautiful SHIBBY-exclusive Inhouse tiktok influencer which we will make grow and spread accross TikTok by directing engagement to her. + +Within the next 1-2 weeks, we'll be looking to onboard prospective recipients of charitable donations to support services for disabled dogs, and will be using our DAO to vote on these issues. We're developing an onboarding process for these recipients as well as the criteria they will need to meet to qualify for consideration on an equal basis with other prospective recipients. The DAO has been tested and is ready to use, and we're really looking forward to start making a difference in the lives of doggos. + +Come help us #findSHIBBY, and be part of our community building this innovative way to fund services for disabled dogs! + +🐾 Website: [https://shibby.finance/](https://shibby.finance/) +🐾 Telegram: [https://t.me/shibby\_finance](https://t.me/shibby_finance) +🐾 Twitter: [https://twitter.com/Shibby\_finance](https://twitter.com/Shibby_finance) +🐾 DAO (ready to use): [https://snapshot.org/#/shibby.eth/](https://snapshot.org/#/shibby.eth/) +🐾 Github: [https://github.com/shibbyfinance](https://github.com/shibbyfinance) +🐾 Contract: [https://bscscan.com/address/0xB1035523a844371C2877f8a3b2F2f8d337403b6F](https://bscscan.com/address/0xB1035523a844371C2877f8a3b2F2f8d337403b6F) + +🐾 Buy on Pancakeswap: +[https://exchange.pancakeswap.finance/#/swap?inputCurrency=0xB1035523a844371C2877f8a3b2F2f8d337403b6F](https://exchange.pancakeswap.finance/#/swap?inputCurrency=0xB1035523a844371C2877f8a3b2F2f8d337403b6F) +These type of occasions are rare. The first Monero hard fork is being FUD'ed hard by the Monero community. +Here is why i'm in FAVOR of this chain split: + +1. Monero's own FUD. The community over there are going CRAZY about this, which means good business for all of us. +Heck, they even created a new 'gag' fork to confuse people about this one. What does this mean? +I remember the good times of the Bitcoin Cash fork, and the warning from bitcoin core community. This feels harsher = good for us. + +[Imgur](https://i.imgur.com/kb9XUXo.png) + +The Monero guys are known for doing this to all privacy coins such as Dash, Zcash, Sumokoin and others. +see - https://www.reddit.com/r/dashpay/comments/7vyuxl/why_does_the_monero_community_hate_dash_so_much/ - a VERY interesting read. + + +2. They seem professional, to-the-point, and development focused. +I've read the roadmap paper (https://monerov.org/MoneroV-Roadmap.pdf), asked around their telegram chat group, messages their emails, and all I got was clear answers. +They even suggest you wait out the extraction of coins until there is an open-source wallet that is checked by the Monero (and whole) community, alongside best storage practices etc. +Besides, the blockchain explorer is working, git already rolling out. + + +3. I'm fed up with Monero being centralized by 1-5 key ppl. +Fluffy Pony Is Monero, Monero is FluffyPony: https://www.reddit.com/r/Monero/comments/6d5yt5/what_fluffypony_just_did_is_not_ok/ +At least now with supporting XMV, no one could claim authority on the coin and manipulate it. + + +4. They chosen the 'hard' way. Guys, if this was a grab they would've done what Monero gold did, or any other erc20 token idea out there. +They could have done a pre-sale, do a quick ICO, invest in marketing etc.. it's not the case here. They picked up a necessary fight with a vicious community. + + +5. Development plan seems ambitious but necessary. + + +In conclusion, this is going to be the best fork since BTC/BCH. I'm loving the FUD and cheer for MoneroV. +I wished they would invest more in marketing / bounty programs so that more ppl will take their side, that's all. + +That's my 2 cents of a contrarian outlook. +EDIT- typos +I've seen this time and time again on this sub and with my friends IRL. + +My friend recently interviewed at a job and they asked "What are your salary expectations?" To which he replied "I'm looking in the realm of $50-$60k". Guess what they offered him? + +Ding. You guessed it. 50k. + +When asked this question in an interview, do not give a number instead reply with something along the lines of... + +Interviewer: "Now, What would you say your salary expectations are?" +You: "I would just expect to be paid fairly for the experience and skills that I bring to the table" + +If they press further - tell them "I would be remiss to give a number because there are many aspects that go into overall compensation and I would need to be able to compare all aspects of it." + +This is a completely true statement as Bonus, Stock, Health Insurance, 401k, HSA, PTO and Education Reimbursement are all elements of a potential compensation plan. + + +EDIT: I realize that there isn't a one size fits all approach to this. If you know exactly what you are worth and have confidence in that number, all the power to you to give an accurate and informed number to HR. It is in your best interest to try to negotiate up as much as you can, and many HR reps will try to get good talent for low cost to the company. It definitely is a negotiation. I would argue that the majority of people do not know exactly what their range is, and yes research is key here, but doesn't always lead to the employee being confident in a number they should be getting paid. I think many people do do themselves a disservice by undervaluing their talent and come in low. That could be due to lack of research, lack of confidence, lack of negotiation skills etc. One way to combat this for people that are newer to interviewing and don't have a good sense of were they fall on that spectrum, is to try to abstain from giving a number. That's all my point was about. + +EDIT 2: I regret making this as an ultimatum. Went for effect and definitely got it. This doesn't apply to everyone. There are situations that giving a number is advisable. Also getting a lot of comments on online applications, and from HR or hiring managers railing against this idea. I appreciate all of the responses, difference in opinion, even the rude ones. Good to gain perspective on my part. +Sorry if this is inappropriate for the forum and I’m happy to delete, but my travel agent hasn’t responded and I need to tip within 2 hours… + +Fantastic vacation in Mexico. Large house, many guests, 10 days. Team of 5 bartenders, chefs, and a house manager provided service at a level I didn’t know existed. They literally made the vacation. I want to take care of them, but I’ve never done anything like this before and need to know the appropriate range. Our intention is to vacation with this team again (they’ve been together for 20+ years) at this house or another in the future. If anyone has experience, please give me some guidance. Thank you very much! +I just want to thank all the mods and contributors and Dr. Trimbath for an amazing interview. You could see Dr. Trimbath's relief at finding some allies and "being believed" -- when Atobitt mentioned there are 250,000 apes gathering their pitchforks like she'd always wanted, she looked like she was about to cry! + +Whoever helped with the YT channel and chyrons, that shit was on point. Tremendous work all-around, everybody! + +u/Atobitt: THEM NUMBERS ARE FUCKING *INSANE*, DUDE!!! Looking forward to House of Cards II, holy fucking shit +I am 100% DRS’d and constantly buying these beautiful dips to increase my position! + +It is incredible that GameStop included direct registration numbers in their last report and that’s the only thing Apes should be concerned with! + +Making that number as high as possible is the only thing that matters! + +This sub loves high scores and that is the only one that should have attention! + +MOASS is inevitable! It is only a matter of time and I have all the time in world. + +Buy the dip! Brick by brick! DRS 100%! Sit back and watch Hedgies get Fuk’d! + +Edit: Holy downvotes, someone doesn’t want this being seen! +As of today, most people assume that the token will mostly be used in the ad marketplace. Advertisers will buy ad slots with it, then tokens will be donated to publishers whenever users consume content. This is a reasonable start but I think that is only the beginning. + +In a free market scenario, I think that BAT could make the whole web monetized. Using any service on the web would come with a micro price tag in BAT. Let's say I want to read a specific blog post (it might cost 0.001 BAT), let's say I want to use some web tool for removing red eyes from photos (it might cost 0.003 BAT) or play a web game (0.005 BAT) or watch a video on YouTube (0.002 BAT or whatever the creator of the video is charging). + +If you surf excessively you will probably need to buy a little BAT each month. In most cases the BAT you earn from seeing ads would be enough to get by on the Internet. + +I think this is great because it means people could do creative stuff on the web and actually get paid. You could create a website without relying on a bunch of ads. People will pay for your content automatically with BAT, in other words, no need to bring out the credit card. It could also phase out the subscription model, when you use something, you pay for it directly and anonymously. I think this will happen as a natural consequence of what Brave is doing today. None of this will be forced by Brave, rather, it will be the publishers themselves who will start monetizing all of their content. + +So BAT is essentially like a fuel, a fuel that keeps the creative flow going on the web. The attention token will incentivize content creation and make being on the web a better experience. + +I got into this a few months ago. Never had the opportunity to buy ETH at $10. Now I’m able to buy BAT at below the dollar mark, which could be almost as good. If things unfold as I describe, then BAT is severely undervalued. +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! + +There was a post going around the other day about how this is such a memorable time for anyone lurking these forums and crypto, and how we truly won’t forget it. + +Our first purchase of BTC... our first moon landing... our first rug pull... and probably most coherently, the first time you got **BOGGED**. That magical moment in which you decided to tip your toes into a new asset and instantly became financially ruined. And, of course, right when you panic sold, Igor and Grichka ate that fucking dip. + +So, like me, when you saw Bogged Finance for the first time, it was easy to put down as another memecoin, a community-driven blah blah blah with a pretty funny leaderboard that tracked whenever anyone sold. Which, as a fan of public shaming, this pleases me. + +But if you’ve been around these boards, you might have dug a little deeper a time or two and noticed that there’s more going on with Bogged than just hilarious memes and a dedicated fanbase. + +No, if you’ve been on Binance Smart Chain, then you’ve almost definitely seen some Bogged charts starting to float around. That’s right, **Bogged Finance has BogTools, with limit sells launching soon,** and BogTools are, believe it or not, going to bring some real legitimacy to trading on BSC. + +**You see, the biggest problem with trading on BSC right now is that there’s no way to stop yourself from getting completely destroyed on any single investment. While you might not think this is a big deal with your twenty shitcoins waiting for one of them to go 100x, your big boy traders want to make sure there’s a limit to how many beach houses they can lose.** + +If BSC is going to continue evolving into an ecosystem that can rival Ethereum, it’s going to need the ability for people to set limit orders, because I can tell you there are many traders who won’t touch a setup without one. Not everyone has all day to stare at PancakeSwap and check the price go up a cent, down a cent. + +Of course, if that is your bag, BogTools is also offering free charts unlike some of your greedier services out there demanding subscriptions through their token. Nope, they don’t need to rely on weak tactics like that over at Bogged Finance, where they’ve built their own price feeds and on-chain oracles (which they have big plans to expand on later this year and in 2022 as defined in their roadmap). + +**Bogged Finance might have started as a meme but it’s one by one taking down each major infrastructural issue with BSC**, and even having a little fun creating a usable RNG system utilizing their oracles that would be great for all of the new lottery and casino coins coming out. + +At a $17M market cap, and an ATH tracking above this mark, Bogged Finance has been consolidating the past couple weeks and looks ready for another breakout. The developments have been nonstop lately and it looks like the public is starting to see that this project is no joke. **Considering Kyber hit $700M on the Ethereum side of things bringing DEX limit orders to that network, I wouldn’t be surprised if Bogged Finance adds another digit in the coming year as BSC continues to expand.** + +Don’t let this be your lasting memory of this bull run, of getting Bogged for deciding not to get $BOG. And don’t you dare sell either. Otherwise seriously kids, you’re just NGMI + +Pancakeswap: [exchange.pancakeswap.finance/#/swap?inputCurrency=0xD7B729ef857Aa773f47D37088A1181bB3fbF0099](https://exchange.pancakeswap.finance/#/swap?inputCurrency=0xD7B729ef857Aa773f47D37088A1181bB3fbF0099) + +Website: [bogged.finance/](https://bogged.finance/) + +Limit Orders: [bogged.finance/trade](https://bogged.finance/trade) + +Charts: [charts.bogged.finance/](https://charts.bogged.finance/?token=0xD7B729ef857Aa773f47D37088A1181bB3fbF0099) +Source: Economic times +Mumbai: S&P Global Ratings on Friday said it lowered its ratings on Axis Bank and Bajaj Finance to junk, reflecting the ratings agency’s view that economic risks have increased for banks and financial institutions operating in India. + +The ratings agency downgraded Axis Bank’s issuer credit rating to BB+/stable/B from BBB-/negative/A-3 earlier. It also downgraded the bank’s Dubai International Financial Centre branch, GIFT city branch and Hong Kong branches’ ratings to BB+ from BBB- earlier. + +When a bond's rating drops into the double-B category, it falls into the junk bond territory. + + +“We lowered our ratings on Axis to reflect our expectation that heightened economic risks facing India's banking system will affect the bank's asset quality and financial performance,” S&P said in a release. + +“While Axis' asset quality is superior to the Indian banking sector average, its level of non-performing assets (NPAs) will likely remain high compared to international peers'. Nevertheless, we expect the bank to maintain its strong market position and adequate capitalization,” it added. + +S&P downgraded Bajaj Finance’s issuer credit rating to BB+/stable/B from BBB-/negative/A-3 earlier. It also cut Shriram Transport Finance’s issuer credit rating to BB-/watch negative/B from BB/negative/B, and senior secured rating to BB-/watch negative from BB earlier. + + +It also placed its ratings on Indian Bank on CreditWatch because we see a high risk that the public sector bank's credit profile could weaken over the coming quarters due to Covid-19, as well as the merger with the weaker Allahabad Bank. + +At the same time, S&P affirmed the ratings on the seven other banks it rates in India. + +“We believe risks stemming from challenging operating conditions following Covid-19 have increased for Indian banks. We now expect the Indian economy to fall into recession in the current fiscal year,” S&P said. + + +“We anticipate Indian banks' asset quality will deteriorate, credit costs will rise, and profitability will decline over the next 12 months,” the ratings agency said adding that it has revised its banking industry country risk assessment (BICRA) for India to group '6 'from group '5'. + +“We assess the economic risk trend as stable,” it added. + +S&P said it affirmed the ratings on HDFC Bank to reflect the bank's strong business franchise, low credit costs and better funding and liquidity profile than industry peers. +From posts on in this sub over the last month, it looks to me like most wheelers here have IMHO a completely wrong approach to the strategy. + +I see titles like: + +- "I have been assigned, but the stock keeps dropping what do I do now?" - buy more? You were willing to buy at a higher price and are getting a discount now! + +- "My put is ITM how can I roll it?" - Why would you? Isn't the point to be assigned? + +- "How do I lower my costbasis? I'm already down xx%?" - why do you consider your entry price for your exit strategy? + +RIGHT now is the time to write CSPs on quality stocks, collect jucy premium and if you are lucky GET ASSIGNED. Isn't that the whole point of the wheel? Buying good stocks for cheap and getting paid in premium while we wait for the stock to hit our desired purchase price? + +The wheel is IMHO not a strategy that you are supposed to run in every market on stocks with high IV. You run it on quality stocks when their vola is high (i.e. in a correction). + +/rant over +I'm trying to understand what "normal" (or whatever) economists think is wrong (if anything) with the Bitcoin advocates' belief that it's a good idea to have a money supply with a fixed cap (i.e. there will only ever be at most 21 million BTC). + +I'm new at this macroeconomics stuff. (I've been googling a bunch over the past couple of weeks, but I have no formal training in this.) I'll try to explain my current (vague) understanding of the situation, so that you can see where I'm getting confused. + +I understand that as the economy generally grows (either through population increase or technological improvements?), we'll have the same number of BTC chasing an ever-growing GDP. And so BTC will be deflationary. + +I think Bitcoin/gold-standard advocates just shrug at that and say, "Sure; so what? Prices of goods will decrease over time. What's the problem?" + +Whereas in the world of normal economists, if I understand correctly, there's widespread belief that: + + - It's important to keep the money supply growing along with the size of the economy (and maybe a bit faster, so that we have 2% inflation or whatever). + - And also it's important to be able to expand or contract the money supply to smooth out various kinds of shocks so that they don't lead to recessions. + +Is that even close to a vaguely-accurate broad description of what mainstream economists think? (Sorry, I'm having trouble keeping the different schools of thought straight - Austrian versus Keynesian versus new-Keynesian versus post-Keynesian versus monetarist versus market-monetarist or whatever. And I get that "what causes business cycles?" is in general an important central question and there's a ton of different theories and maybe no generally-accepted consensus yet. I'm just having trouble understand what the theories even *are*.) + +Where is it that the Bitcoin advocates are going wrong? I'm still having trouble imagining how a recession happens, either in the case of "the economy grew but the money supply didn't" or in the case of "there was a shock of some sort and we couldn't address it using monetary policy". + +I sorta understand that there's this concept of "stickiness" and that maybe that has something to do with it. (e.g. It's easier to just not give workers a raise than to decrease their nominal pay.) I can see how that could lead to prices/wages taking a while to catch up to where they should be, and how that could be a minor problem, but I'm still having trouble envisioning the process of that turning into a recession. It sorta seems to me like prices should just fix themselves sooner or later, and I know that it's the "or later" part that's the problem, but I still don't understand why it would take an especially-long time or why that has the potential to tank the whole economy. + +Is there some other important thing that I'm missing that makes a fixed-size money supply problematic? What does a recession look like, and why does expanding or contracting the money supply help fix it? + +(And if this question has a standard answer that you don't want to repeat for the millionth time, can you point me to a website that explains it clearly? I swear I've been reading the Wikipedia pages, but I'm still confused.) +I recently took an intro to microeconomics and macroeconomics course as electives. In micro, a large part of lecture revolves around how restrictions (price floor, ceiling, quota, tariff, taxes) negatively affect total welfare. Whereas in macro, we learned about monetary policy and why it's necessary. + +So, do microeconomist typically believe in a more capitalistic, free enterprise society, whereas macroeconomist believe government plays an important role in maintaining a healthy economy? Or is that not really a thing. +I am curious if there is a way to find out the average cost of any general product from a given year? The hair dye example is just a specific one that came to mind, but my question really has to do with finding average prices in any part of the world at any given year. + +This [Smartasset](https://smartasset.com/investing/inflation-calculator#Hyl2U8Q6Zp) calculator seems to give a super generalized calculation based on simple inflation and deflation. However, I’m interested if there is some kind of database or index to find this information. All constructive help is appreciated. +So brother in law has brain cancer and has about 2-5 yrs to live but won't be able to work. His motor skills havr taken a step back. My sister is in MRI tech school full time and they have 3 kids. The family is stepping up to help, but the hospital bills, and daycare, etc. is mounting. +I am helping her out, but I began looking for a better paying job to help out even more. I want the kids to have food, clothes, bithdays, and be as normal as possible. +Had some interviews and got an offer for 10k more than my current job. I accepted. +The company I work for is doing so so and budget is tight, so I never even thought of asking for more money. +Went to turn in my notice and the Director asked if he matched would I stay. I was baffled, but of course I would. +He got the match, I will be able to send more to my sister, and I don't have to start a new job with a weird shift. +He also had many words of praise about my work and said although budget is tight they want to keep the good people. +Made my day, weekend, month. +Lesson learned on asking for a raise. It never hurts to try. + +Edit: Wow! A ton of great stories, encouragment, and opinions. Thank you all? +A little more background. I did get an offer letter for the raise. +The CIO brought me in to her office and said she normally never saves people from leaving for the very reasons many of you have expressed (if more money comes they will leave eventually anyways), but they love work and my attitude and it was a no-brainer for her. +Some of you may say she is just saying that, and you could be right, but we had a heart to heart and talked about people we had lost and people we know who currently have a terminal illness. +Will I retire from here? No. I am a Gen Xer(35) and like to move jobs every 2-3 years to keep things fresh. +Does their gesture make me want to more for them? Yes. +I am in IT, and live in MN. IT jobs are everywhere and pay well. They know this yet gave the raise anyways. + +Edit 2: +Thanks for all the support. Lots of good conversation from those in the same boat. Some have been burned, others had it worked out for them. I hope to be in the latter group and feel that I am. Time will tell. +As for my brother in law and sister, it's a long road ahead. The guy is so young (39). Embrace every moment folks. Tell everyone you care about that you care about them. Go on adventures. Live life. Become a Vikings fan! +Later... +34M, HCOL HENRY here. + +A Bank of America private bank survey of 1,000 millennials (aged 21 to 42) with $3M+ in investible assets has been making the rounds on the financial reporting outlets (Bloomberg, Fortune, MarketWatch, etc.). The survey was performed in May/June but the reporting has come out in the last couple months. Key points: + +* They (we?) hold on average 25% of their investible assets in stocks (compared to 55% for those aged 43+) +* 29% rated crypto/NFTs as a top investment opportunity, the highest ranking (28% for real estate, 12% for U.S. stocks, 15% for international/emerging market stocks) +* Over half have invested in NFTs +* They allocate an average of 15% of their portfolios to crypto/NFTs (I really wonder if this means a year ago the allocation was much higher and it has since shrunk), compared with 2% for older generations + +I'm certainly not typical of the survey takers: I bought a small amount across a basket of currencies (\`1% investible assets) 18 months ago, it's down 50%, and I couldn't care less about predicting whether or when it might rebound. The 25% investible assets in stocks figure was shocking to me -- far more than 25% of my investible assets are in stocks. Seems like the perfect way to stay the course while others are spooked by the end of perhaps the longest stock market expansion (and certainly the largest in absolute value created) in history. Are other millennials on the path to FatFIRE surprised by this survey? + +[MarketWatch article](https://www.marketwatch.com/story/rich-millennials-say-this-is-the-best-long-term-investment-11665490355) + +EDIT: comments so far are reinforcing my suspicion that most of the millennials here don't actually believe crypto/NFTs are a better investment opportunity than real estate or stocks 🤣 + +Second edit: I'm quite curious now where they sourced these survey-takers. In the 35-39 age bracket alone there are 200,000+ individuals with $4M+ net worth (22.3M individuals ages 35-39 in the US and 1% net worth for that age bracket from the Federal Reserve Survey of Consumer Finances is $4,034,486), so this 1,000-person sample wouldn't even be 0.5% of that group, let alone the 21-42 age range. +&#x200B; + +https://preview.redd.it/misrgj29bba71.jpg?width=700&format=pjpg&auto=webp&s=b91b23facf0e3fd0911b26717f482670e44fa6b8 + +*This is one of a series of posts where I will apply my fast and dirty historical fundamental analysis to some of the biggest dogshit stocks of 2021. If you are interested in the process I use below to evaluate a stock, check out* [How Do I Buy A Stonk???](https://www.reddit.com/r/ASX_Bets/comments/lzjpvf/how_do_i_buy_a_stock/) + +# The Business + +&#x200B; + +https://preview.redd.it/vtqzubbcbba71.png?width=1200&format=png&auto=webp&s=d1f1adcc551764c92f4e0a7e9ad3d12b4ff26fc0 + +One of Australia’s few tech stocks, Redbubble is an online business which operates in a market loosely known as “on demand products”. Essentially, they offer a base range of products on which different designs can be printed when ordered. The print job is sub-contracted out to a list of 3rd party printing companies (“fulfillers”) and the designs are developed by a roster of independent artists that submit their work to the Redbubble platform. When designs are chosen by customers, both the artist and 3rd party printing company involved get a cut of the sale. In a way, the Redbubble platform merely facilitates the linking up artists, custom print apparel manufacturers, and customers from around the world. + +&#x200B; + +[Redbubble & recently acquired Teerepublic website](https://preview.redd.it/84mkvnmdbba71.png?width=2178&format=png&auto=webp&s=34523bf4910082d59a5c3b4716b23e42888e0b7b) + +Founded in 2006 in Melbourne, over the course of the last 15 years they’ve fostered their market place and grown it to the global player that it is today. With offices in Melbourne, San Francisco, and Berlin, Redbubble sell products around the world. As of their latest annual report, they claim to have over 500k artists on the books, with a combined payment of $67m worth of royalties paid out in FY20 alone. Their designs are printed from any one of 37 fulfillers across 10 countries. + +# The Checklist + +* Net Profit: negative 5 of last 5 years. Bad ❌ +* Outstanding Shares: one capital raise 2018. Neutral ⚪ +* Revenue & Equity: growing significantly L5Y. Good ✅ +* Insider Ownership: 39.9% w/ on market buying and one major sell. Neutral ⚪ +* Debt / Equity: 6.6% w/ Current Ratio of 1.5x. Good ✅ +* ROE: -20.8% Avg L5Y w/ -9.2% FY20. Bad ❌ +* Dividend: no dividend paid. Neutral ⚪ +* BPS 42cents (8.3x P/B) w/ NTA 18cents (19.5x P/NTA). Bad ❌ +* 5Y Avg: SPS 89cents (3.9x P/S), EPS -5.4cents (#N/A P/E). Bad ❌ +* Growth: +39% Avg Revenue Growth L5Y w/ 35.6% FY20. Good ✅ + +**Fair Value: 32cents\^** + +**Target Buy: N/A\^** + +^(\^Based on historical averages. For a high growth company like this, the pricing in “The Target” section is likely to be much more relevant. Furthermore, a meaningful historically based target price proved difficult given the history of net losses.) + +# The Knife + +[marketindex.com.au](https://preview.redd.it/jvknketqbba71.png?width=966&format=png&auto=webp&s=d76a27ffe9a7304c7fb98581d84cb8e12ca3d629) + +Since listing, RBL has traded under $2 for most of its time on the index, mostly hovering in the sub $1 range. Then the March 2020 crash happened, and lockdowns worldwide instigated a frenzy of investment activity in the online retail space. + +RBL peaked in January of 2021 @ $7.35 per share, having rocketed from 50cents not even a year prior. Had you bought RBL in March or April of 2020, you may have experienced a return of almost 1400% in the short space of only 8 months. + +But as quickly as it mooned, RBL came crashing back down to reality when the 1H21 report was released. And not long after that, the 3rd Qtr trading update in April furthered the rout. As of Friday the 9th July 2021, RBL closed at $3.51. Those that bought RBL at its all-time high would now be down about half of their investment in the space of only 6 months. And the question is still open whether RBL will fall further. + +# The Diagnosis + +The short answer: Lockdown hyped up a lot of stocks. Many of which were dogshit to begin with. + +The long answer: Actually, the short answer more or less covers it. + +&#x200B; + +https://preview.redd.it/uapirxzsbba71.png?width=734&format=png&auto=webp&s=a67e400b10ba79a32d7099727dbce2e3b81d4454 + +Actually, as circumstances have developed, perhaps Redbubble isn’t as dogshit as it once was. The extra interest from consumers in this industry has maybe accelerated their development into a profitable company. For example, in FY20 they saw a 50% increase in the number of artists contributing work to the site. Along with that, RBL had 6.8m unique customers purchase from them, up 30% from the previous year. Coupled with 40% repeat customers, their sales revenue grew 36%. + +&#x200B; + +[From FY20 annual report](https://preview.redd.it/orww2rkubba71.png?width=1386&format=png&auto=webp&s=8c84485681905d266227f1bb27f0af4540827047) + +Up until now, Redbubble had been posting losses on a yearly basis. Their expected FY21 results should look pretty good in that context. This is without any government Jobkeeper assistance boosting the numbers in FY20 or FY21, which is impressive. The real question is then, can they sustain this uptick in revenue, or has the online retail market space experienced a once in a decade spike in sales, which will otherwise return to normal levels? + +# The Outlook + +As far as maintaining that momentum, their 3rd QTR trading update was not a good sign… + +&#x200B; + +https://preview.redd.it/1jkr0x3xbba71.png?width=1200&format=png&auto=webp&s=b501bae1d3dcdab10ab9072c3a4ae6aca7d3d139 + +To the unknowing investor on it looks pretty positive. RBL are showing good cash flows and revenue, expectations to improve on last year, and very likely post a positive end of year net profit. A huge improvement from the loss they made in FY20. However, when looking at the 3rd quarter YTD results in conjunction with the 1H21 results a serious question arises. + +&#x200B; + +[What happened? ](https://preview.redd.it/9gicjqqybba71.png?width=1247&format=png&auto=webp&s=904db58d2a581c11ab65351a777f7c99c978723e) + +Side by side, one might think that the numbers somehow got reversed. Between Dec and March, RBL has retraced itself on cashflow. This indicates that they were trading at a loss for the trailing 3 months, and a significant one at that. If the 3rd QTR trend is multiplied out, then most of the positive results of 1H21 would be cancelled out. Unfortunately, as is the nature of a trading update, more minute details on what is occurring behind the scenes is difficult to discern. + +**Litigation** + +Then they also have the problem of some developments with litigation, and it hasn’t gone in their favour. + +&#x200B; + +https://preview.redd.it/gxhw25u1cba71.png?width=1119&format=png&auto=webp&s=6d6e2926402a74d0e65abaf55659aed4f5314100 + +Despite the overall damages awarded being relatively minor, the possible implications in future are not good. Does the verdict on this case open up Redbubble to further claims by other artists? How widespread is this issue? I browsed through some of the 1-star reviews on a 3rd party reviewing website, and it sounded like perhaps the Brandy Melville case isn’t isolated. + +&#x200B; + +https://preview.redd.it/zk1rlnr5cba71.png?width=900&format=png&auto=webp&s=bf37cdbbe4ae82365bb0d98209def6ff6b317dd7 + +Whether this has deterred many more artists joining the platform and contributing is yet to be seen. There are some that might claim that this sort of issue is old hash, and that many others including Amazon have gone through the same trials and tribulations. But build up enough of a reputation for appropriating IP, and the marketplace of artists that RBL has cultivated for 15 years might break down. + +**Customer Reviews** + +The other thing that was interesting to read through on the site reviews was that it was nigh impossible for many people to interact with RBL when things went awry. Should a shirt turn up a size too small, or the design on your face mask is wrong, or perhaps the shipment just wasn’t received, it appears that many people find it very difficult to get in touch with RBL. + +On their website there are no direct contact details for the company that I could find for customers. Instead, customers are funnelled down website forms and AI generated ‘help’. The quantity and consistency amongst these bad reviews seems to indicate that there is a significant problem with how the company interacts with its customers. It may work for some, but clearly not for everyone. + +&#x200B; + +https://preview.redd.it/yez0fdn9cba71.png?width=1800&format=png&auto=webp&s=e72622f59d63bea9a92b9d00364ba9dfdc36e4f7 + +There were also complaints of quality. Now this one is even harder to evaluate, since it’s a very subjective sort of assessment. However, it is reasonable to suspect, with so many 3rd party fulfilling companies that RBL works with, that perhaps not all of them are on the same level of output as others. Before I bought any of RBL stock, I think I’d want to purchase a t-shirt to get a feel for it myself (literally). + +While each one of these issues may not be a true indictment of the stock, or perhaps are only showing the real truth of it in shades. It nonetheless indicates that there is some significant portion of the customer base that has interacted with them and not been very satisfied. But it is interesting in FY21 they had 40% of their customer base purchase again, which is actually roughly in line with their larger competitor, Etsy. + +# The Verdict + +Speaking of competitors, the elephant in the room here truly is Etsy. And with $10billlion USD in annual revenue, almost 5million artists, and over 90million customers, Etsy are an elephant with quite a bit of weight. Despite RBL being an Australian company, their main playground is the USA. As such, they very much have to address the Etsy issue. + +&#x200B; + +https://preview.redd.it/ahf1xf7bcba71.png?width=1373&format=png&auto=webp&s=c0a57f9d341bf04839be4962d06353e5ee813cdd + +Perhaps one edge that Redbubble bring to the table here is that they seem to be pitching to a much different demographic than Etsy. They don’t appear interested in taking on Etsy in the housewife arena, and have instead positioned themselves in a hipster/gamer sort of niche. This is one significant point of difference, and perhaps a reason to be optimistic that RBL can continue to grow while in the shadow of the Etsy goliath. + +&#x200B; + +[ETSY vs RBL](https://preview.redd.it/b36b5x5dcba71.png?width=1853&format=png&auto=webp&s=b5ec2f0134ab28deb331562c47b804806ddcbf97) + +From a share price perspective, it should be no surprise though that RBL has mirrored Etsy during the 2020 surge of in interest. In fact, for a time prior to RBL’s 1H21 report, they were outperforming Etsy. + +&#x200B; + +https://preview.redd.it/0mm57b0fcba71.png?width=800&format=png&auto=webp&s=4bcb964554dbb0b4533f8de5c9893df397fe0e97 + +From a fundamental valuation perspective, RBL are actually way more reasonably priced than Etsy, at least at the current price anyway. Given also that RBL are a relatively small company, especially as compared to the size of Etsy, would-be investors could hope to factor in some more explosive growth over the next few years. + +&#x200B; + +[\\"Alexa, define relevant\\"](https://preview.redd.it/8mg3dlofcba71.png?width=1200&format=png&auto=webp&s=d89feaefabd259711986946e907dfc8170148654) + +Etsy currently ranks #71 globally, and #26 in the USA. From this perspective, Redbubble and Teepublic would seem to have a very high ceiling on their potential. Though, it must be mentioned that they’ve been going backwards for the last quarter or so. + +All that being said, if one were interested in investing in these sort of online retail, on-demand products, then perhaps RBL presents an opportunity to get in while the valuations are still reasonable and there is still yet more room for them to run. But whether there is more growth is far from certain, based on the latest market update. + +# The Target + +The question also then becomes whether the current price is even a good price anymore. Did prospective investors miss the boat back in early 2020? Surely the latest pullback presents an opportunity? + +Well, let’s try to find out. + +&#x200B; + +https://preview.redd.it/49zctkzicba71.png?width=1810&format=png&auto=webp&s=cf7f01ac194eafecb6ad0b1968956757eb084b47 + +Using 1H21 and the 3QTR update, we can draw some estimates to what FY21 will look like, particularly with the revenue. However, trading update did not provide any advice on their YTD profit levels. Though, given the EBIT had not reduced much from the 1H21 report, one might expect the NPAT to remain similar. So, being a bit more optimistic about expected FY21 profit levels, let’s presume that the NPAT that they achieved for the 1H21 report does not materially change very much. + +That gives us the following fundamentals: + +* SPS $1.81 +* EPS 15cents +* BPS 41cents + +Using these, we can estimate the following fair and target prices. + +**Fair Price (FY21) – $2.60** + +**Target Price (FY21) - $1.23** + +It is worth noting that the growth achieved by Redbubble has been very consistently high, even if they have struggled to translate that into net profits. So, there is a case to be made that the stock should be valued in terms of a growth stock. Using the Peter Lynch style of strategy of a PEG ratio, anything under $3.00 would likely be a good entry point, based on the expected EPS of 15cents. However, if RBL profits deteriorate from the 1H21 figures, this target may well be sub $2.00 as well. + +# The TL;DR + +Redbubble is a fast growing online market place for on-demand products. In other words, they link up artists, printers, and customers looking for interesting custom print t-shirts, apparel, and accessories. + +During the lockdowns around the world last year, Redbubble and many other online retailers experienced an explosion of growth and interest. Certainly that was the case amongst investors that drove the price of RBL up 1400% from its low base of 50cents. + +Though, now that many other countries are now opening up, Redbubble’s more recent figures have shown a lot of weakness, and the stonk has taken a beating as a result. Redbubble has historically struggled to make positive profits, and as it’s going now, they may just barely do so in FY21; this within a consumer environment that couldn’t have been more positive for them. + +I think for an investor that is interested in investing in the long term future of the on-demand online retail company (Etsy et al.), then Redbubble perhaps presents an opportunity to get in at a much more reasonable valuation compared to the broader industry. Though, it is highly uncertain where this industry is going post lockdowns, so it’s really incumbent upon that investor to make their own evaluation on Redbubble’s prospects going forward. + +*As always, thanks for attending my ted talk and fuck off if you think this is advice.* 🚀🚀🚀 + +*I'd love to hear other's opinion on RBL* *and whether there is potential here that I am not seeing. Also, suggest other dogshit stocks that are/were on the ASX 200 index, and I might put them on the watchlist for a DD in future editions of this series.* + +*Currently on the Watchlist (rough order): MYR, CGF, URW, IPL, COE, SGH, SSM, FLT, Z1P/APT, SXL, RFG, AZJ.* + +[Previous Editions of Catching the Knife](https://www.reddit.com/user/Nevelo/comments/sfc7gi/catching_the_knife_series/) +The previous post was locked due to rampant off topic discussion, then the OP decided to delete it rather than leave it up for people to read. + +https://reports.jpmorganchase.com/investor-relations/2020/ar-ceo-letters.htm + +Some highlights: + +[Dimon's discussion of corporate citizenship](https://reports.jpmorganchase.com/investor-relations/2020/ar-ceo-letters.htm#corporate-citizen) + +[Threats from every angle](https://reports.jpmorganchase.com/investor-relations/2020/ar-ceo-letters.htm#banks-enormous) + +>1. Banks are playing an increasingly smaller role in the financial system. + +>In the chart below, you will see that U.S. banks (and European banks) have become much smaller in size relative to multiple measures, ranging from shadow banks to fintech competitors and to markets in general. + +>Whether you look at the chart above over 10 or 20 years, U.S. banks have become much smaller relative to U.S. financial markets and to the size of most of the shadow banks. You can also see the rapid growth of payment and fintech companies and the extraordinary size of Big Tech companies. (As an aside, capital and global systemically important financial institution (G-SIFI) capital rules were supposed to reflect the economy’s increased size and banks’ reduced size within the economy. This simply has not happened in the United States.) + +>Some regulators will look at the chart above and point out that risk has been moved out of the banking system, which they wanted and which clearly makes banks safer. That may be true, but there is a flip side – banks are reliable, less-costly and consistent credit providers throughout good times and in bad times, whereas many of the credit providers listed in the chart above are not. More important, transactions made by well-controlled, well-supervised and well-capitalized banks may be less risky to the system than those transactions that are pushed into the shadows. + +>2. The growth in shadow and fintech banking calls for level playing field regulation. + +>The chart below shows the potential regulatory differences between being a bank and being a nonbank or a fintech company – though this varies for each type of company on each item depending upon its legal and regulatory status. In some cases, these regulatory differences may be completely appropriate, but certainly not in all cases. + +>When I make a list like this, I know I will be accused of complaining about bank regulations. But I am simply laying out the facts for our shareholders in trying to assess the competitive landscape going forward. + +>It is completely clear that, increasingly, many banking products, such as payments and certain forms of deposits among others, are moving out of the banking system. In addition, lending in many forms – including mortgage, student, leveraged, consumer and non-credit card consumer – is moving out of the banking system. Neobanks and nonbanks are gaining share in consumer accounts, which effectively hold cash-like deposits. Payments are also moving out of the banking system, in merchant processing and in debit or alternative payment systems. + +[Covid-19 and the economy](https://reports.jpmorganchase.com/investor-relations/2020/ar-ceo-letters.htm#covid-19) + +>1. Bold action by the Fed and the U.S. government effectively reversed financial panic. + +>The Federal Reserve (critically, with the support of the U.S. Treasury) immediately rolled out facilities that financed Treasuries, corporate bonds, mortgage-backed securities and other securities that effectively reversed the financial panic taking place. A full-blown financial crisis would have made the COVID-19 recession far worse, deeper and longer. Markets reacted extremely positively, and companies, over the next nine months, raised an unprecedented $2 trillion in debt and equity at good prices, dramatically improving their financial condition and balance sheets. + +>Congress, importantly, also took immediate action to provide fiscal stimulus, the Coronavirus Aid, Relief, and Economic Security Act, also known as the CARES Act, totaling $2.2 trillion. This largely consisted of stimulus payments to individuals, enhanced unemployment insurance and loans, which could be forgiven, to small businesses. Please see the following sidebar for more detail on the Paycheck Protection Program. + +>Suffice it to say while real damage was done, the size and scope of these programs dramatically reversed the deterioration of the economy and unemployment, which hit 14.8% in April 2020 but made steady progress back to 6.7% by the end of the year – though this number underrepresents the damage that was done because of the large deterioration in labor force participation and the potential permanent loss of many small businesses. + +[Public Policy. American Exceptionalism, Competitiveness and Leadership: Challenged by China, COVID-19 and Our Own Competence](https://reports.jpmorganchase.com/investor-relations/2020/ar-ceo-letters.htm#public-policy) + +>Our nation is clearly under a lot of stress and strain from various events: the COVID-19 pandemic, of course, which has taken more American lives than the total lost in World War II, the Korean War and the Vietnam War combined, resulting in acute economic distress for millions more; the brutal murder of George Floyd and the racial unrest that followed; the divisive 2020 presidential election, culminating in the storming of the Capitol and the attempt to disrupt our democracy; and the seemingly inevitable, but nonetheless alarming and unnerving, rise of China, threatening America’s global preeminence. + +>America has faced tough times before – the Civil War, World War I, the U.S. stock market crash of 1929 and the Great Depression that followed, and World War II, among others. As recently as the late 1960s and 1970s, we struggled with the loss of the Vietnam War, political and racial injustice, recessions, inflation and the emergence of Japan as an economic power. But in each case, America’s might and resiliency strengthened our position in the world, particularly in relation to our major international competitors. This time may be different. + +>China’s leaders believe that America is in decline. They believe this not only because their country’s sheer size will make them the largest economy on the planet by 2030 but also because they believe their long-term thinking and competent, consistent leadership have outshone America’s in so many ways. The Chinese see an America that is losing ground in technology, infrastructure and education – a nation torn and crippled by politics, as well as racial and income inequality – and a country unable to coordinate government policies (fiscal, monetary, industrial, regulatory) in any coherent way to accomplish national goals. Unfortunately, recently, there is a lot of truth to this. + +The above quotations are just small excerpts from the overall report, and do not cover the full scope of topics, please click the links and read the full context should you want to gain further insight. + +Personal note: I would have just left the previous locked thread up but OP chose to take their ball and go home so to speak, this one will remain unlocked unless comments once again turn entirely towards low effort political gripes and other nonsense. Remember this is /r/investing and if you'd like to discuss politics, inequality, healthcare, whatever and not tie it to investment decisions then you should go to /r/politics or whichever your other favorite political subreddit is. +This is more to advise of Race Oncology's latest announcement. + +Which can be accessed here - [ASX Announcement Positive Cancer Results](https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02344727-6A1021436?access_token=83ff96335c2d45a094df02a206a39ff4) + +Positive early preclinical ovarian cancer results when compared against the other major drugs on the market - doxorubicin and epirubicin. + +For those in the know, this is actually groundbreaking. These drugs are the main competitors of bisantrene and these latest pre-clinical results are a positive sign of how much more effective this salvage drug is. + +I'll let everyone else read the announcement themselves. But there is more announcements due this quarter. + +You can also find a range of DD done at the following link - [https://www.reddit.com/r/ASX\_Bets/comments/la0ura/race\_oncology\_dd/](https://www.reddit.com/r/ASX_Bets/comments/la0ura/race_oncology_dd/) +Hi all, + +We started a testrun on the Kovan test-network. We welcome everyone to participate and give feedback: https://gnosis-tokens.digitalmob.ro/token +Please ask here to get Kovan testnet Ether if you don't have any: https://gitter.im/kovan-testnet/faucet +The auction is limited to 3000 testnet Ether. Please don't bid large amounts to allow everyone to try out the bidding process. + +Thank you! +Keep your arguments in here. Try to keep it related to the market and how you're losing all your money thanks to daddy Putin, daddy Biden or this is all the fault of Nicholas II. +[https://www.marketwatch.com/story/impossible-foods-prepping-for-10-billion-ipo-report-11617923032](https://www.marketwatch.com/story/impossible-foods-prepping-for-10-billion-ipo-report-11617923032) + +The current valuation of $10B dwarfs the $4B it was valued at in a private funding round in 2020, and at approximately $1B more than Beyond Meat. This is despite the fact that BYND brought in 400M in FY revenue compared to Impossible Meat's 150M estimated annual revenue. + +I personally don't see any angle from which $10B can be justified. Future growth for the next decade is priced in at the current valuation and it strikes me as a massive bust waiting to happen. +Aswath Damodaran is an NYU professor that has his company valuation videos pinned in this sub. + +His official website: [http://people.stern.nyu.edu/adamodar/](http://people.stern.nyu.edu/adamodar/) + +His database of valuations: [http://people.stern.nyu.edu/adamodar/pc/blog/](http://people.stern.nyu.edu/adamodar/pc/blog/) + +His video valuation: [https://www.youtube.com/watch?v=8rZps01Ok7I](https://www.youtube.com/watch?v=8rZps01Ok7I) + +**Updated Tesla valuation**: Search for **TeslaNov2021DIY.xlsx** in the valuations database. + +Enjoy! +Your markets are run by bots. Now your daily threads are too. + +&#x200B; + +This thread is for plans and thoughts prior to the market open period. + +Maybe use this time to read the [wiki](https://www.reddit.com/r/asx_bets/wiki/index/) [.](https://styles.redditmedia.com/t5_2hqqj5/styles/communityIcon_41pmnaqp4zn41.png?width=256&s=59bf38425fb316fdcba30365b272a5f19352f370) + +&#x200B; + +Posts relating to the "Is /r/ASX_bets about finance or effect your mental health?" etc will lead to a ban of the mods chosing. [You have been warned](https://www.reddit.com/r/ASX_Bets/comments/l0l9et/the_does_asx_bets_effect_your_finances_emotions/?utm_medium=android_app&utm_source=share). Last ban length: 1,048,576 days + +&#x200B; + +[We have an active official/unofficial discord. It's open to all discussions, stonks related and non-stonks related](https://discord.gg/2sQBNuM). +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’ve held the stock for 5 months now and it basically has gone nowhere. Right now I’m up $32 on total return; it just goes up and down constantly floating around my avg cost price. I know AMZN should be a buy and hold for the long term but I’ve been thinking of breaking up that position into a few other investments. I would put $450 into SCHG (Schwab US Large-Cap Growth ETF), $350 into SCHD (Schwab US Dividend Equity ETF), and using the last $200 to boost my position in AAPL (Apple). Does this sound like a good plan for long term buy and hold? +I have 3 very beautiful children that I would do anything for. And in the case I die suddenly I want my kids to be able to benefit from my cryptos. + +&#x200B; + +Now I shared my phrase with my wife about two months ago and after that our marriage quickly started declining due to a couple issues. I always get this feeling that she might do me bad. I’m gonna have to change my wallet now and maybe use a crypto inheritance service. Something like Vault 12 should do, I read a lot about it. + +What’s bothering me is that this mistake will now cost me a lot to transfer my money to another wallet +In the last three months we have seen bitcoin and other crypto's take a huge drop in value but at the same time r/CryptoCurrency has dropped by 36.6% in participation. + +I know the big joke on the sub used to be that we had so many unnecessary post and moon farmers posting comments like "ALGO" and "WE ARE EARLY", but these last couple of months have felt slower on the sub. I compared the stats from 11-21-2021 to 02-15-2022 (21-11-21 to 15-02-22 for the Europeans) see images below to compare for yourself. + +&#x200B; + +* post per day dropped from 893 to 677 +* comments per day dropped from 21,723 to 13,775 +* peak comments were August 10-2021 + +&#x200B; + +[11\/21\/2021](https://preview.redd.it/zclqhe2344i81.png?width=933&format=png&auto=webp&s=9cf27eaf6f2b2bc3cb9ba094edf531f22bfbb542) + +&#x200B; + +[02\/15\/2022](https://preview.redd.it/s8uj6d4444i81.png?width=905&format=png&auto=webp&s=476a2e7d619947f9b38e036f553235ccef5b89f2) + +&#x200B; + +[post per day 02\/15\/2022](https://preview.redd.it/gj5gbaa544i81.png?width=893&format=png&auto=webp&s=b925e0324217ec99257bc137e8cff6a92e1c2988) + +&#x200B; + +[comments per day 02\/15\/2022](https://preview.redd.it/qxrtcnd644i81.png?width=893&format=png&auto=webp&s=c632536630d7a4e98dd31de47c4e7aa09c144e0d) + +^(I used the date of 11-21-2021 because that is the only screen shot I had from the website) [^(subredditstats.com)](https://subredditstats.com) ^(that I used for the screen shots and info.) +Little bit about me: I’m 29M, in the Navy, and almost complete with my contract. If I re-up orders, I’m locked into three more years living in San Diego with 30 days off a year(tempting offer). Owning several rental properties is my number one priority over the safety and stability of a military career. At this crucial point in my life, I’m posed with a couple questions maybe some of you can help me with. + +1. My goal is to enter the industry as quickly as possible. With private mortgages available, is continuing a career solely to raise capital a waste of time? + +2. For those of you who do maintain a steady job and invest on the side, how quickly has your portfolio grown since you’ve made the decision to invest? + +3. For those of you who have forgone a steady job to invest full time, would you briefly share your story of success and/or failure after quitting? +This is just a personal thought/rant I just had. Please feel free to critique me or use it for discussion. I was just thinking about how some people choose growth and eventually have to sell those positions to actually see cash in hand. Well now that you have sold the stock, your money is no longer working for you and on top of that you are down on shares. Tying into that, something that helped me with looking at LONG TERM investing is to always think about the number of shares I have versus the value of them. If I am investing in say VTI, I care more about having “X” number of shares in it rather than a specific value of money. So if my goal is to grow the number of shares I have and to continue allowing my money to go work for me, why would I ever pick growth then? I mean yes you are betting on the price to go up so in theory you wouldn’t be loosing value hopefully by selling down the line but I don’t know something has just come over me lately that makes me not like that. I definitely would consider myself a fan of growth but the more and more I look at it the worse it seems compared to value that pays good dividends. Especially for retirement, I would rather take my money in dividends and get to keep all my shares versus having to sell off stock to pay for stuff. Especially since I can then have shares to pass down as inheritance versus having to sell all my growth stock to actually realize profits or get cash. It sounds silly but in theory dividends just seem almost like an infinite money glitch to me. You keep your original investment and get to collect “interest” on it via dividends and you never have to sell. I guess I just can’t see a reason to ever sell again other than obviously you need a very large sum of money that your yearly dividends wouldn’t cover (ie; buying a house). I don’t know, I definitely sound crazy and ignorant but it’s just a thought I wanted to share for discussion. To state the obvious though I’m young and dumb so take this all with a grain of salt. +I usually don't post on here, but I needed to have some advice. I am 23 years old and live in Arizona (Southern Phoenix area.) Currently, I was recently promoted I used to be making 50,000 annually. My current income is $60,380.00 annually. + + I have no debt and finally was able to get my first credit card after years of soft declines for Identify theft. Throughout the years I didn't have enough documents at the time so had to wait until w2s and credit bureaus reflect my current address. +Here is my financial information: +Savings: 22,000.00 +Checking: 2,150.00 +401k: 7,500.00 +Stocks: 600.00 +Credit Card Limit: 3,800.00 available limit 3732.00 +Now, with my amount I thought I would be able to sustain living, my apartment currently is going to raise up to 1600.00 which I can berely afford. Due to limited credit or lack of credit, I am unable to buy a house at this time. + +After looking around place to place (and calling dozens of apartments), I feel like I can't afford anywhere or because of limited availability, I can't find a place. What are suggestions? +Quote from article: "The Fed delivered in that respect, saying it would continue to buy at least $120 billion of bonds each month "until substantial further progress has been made toward the Committee's maximum employment and price stability goals," the post-meeting statement said." + +&nbsp; + +https://www.google.com/amp/s/www.cnbc.com/amp/2020/12/16/fed-decision-december-2020-fed-commits-to-keep-buying-bonds-until-the-economy-gets-back-to-full-employment.html +I have always been a smart, frugal, reserved, and cautious person. I never in my life would I have thought that I would be someone telling a story like this. However, due to my stupidity, emotions, and overconfidence, i lost 75K in a matter of months. I have nobody to blame but myself. + +I just want to tell this story to someone, in hopes that I can start getting over this massive depression. + +This 75K was part of the proceeds from my home that I sold late last year, and represented most of my net worth. Ive since got married and moved into a condo (renting). Since we had no immediate need for the large sum of cash, I had the bright idea of investing it in hopes of making a few extra bucks. I mean, it takes money to make money, right? Some extra money on the side to help us if we decide to have kids and the wife is out of work for a while. + +So i went ahead and did it, on my own, my wife having zero knowledge. I wont get into details, but I invested in a company I thought was stable, and doing all the right things. Yes yes, I know, diversify! All that good stuff. I know. I ignored that. Unfortunately the stock price didnt agree, and after some dips, crashes, recoveries, etc. I ended up trading my way into oblivion. Yes it was volatile, and I thought my put hedges would protect me from downside risk, but due to my emotions, and large downwards moves, it wasnt enough. + +For the last several weeks, I have had the following emotional and physical consequences: + +- I have dropped 10lbs (im sure a lot is water) due to not +eating/no appetite. + +- I have gotten minimal sleep + +- I have a constant tightness in my chest and headaches. + +- I cannot stop thinking about how much i fucked up and how +much I have set back my family. + +- I used to exercise daily, I havent done any of that in weeks. + +- I am clearly not happy at all and have no ability to truly enjoy myself or be myself. I have to pretend to be happy when I am out with friends/family/wife, and im sure I am doing a shitty job. + +I have learned a lot. Looking back I ask myself, why did i do it if things were fine? I had a decent/steady job, i had money in the bank, I was happy with my life, and I loved everyone in it. I could have just let it sit in an account and just go through life a half step ahead and just enjoyed it. But instead, thoughts of extra money started popping into my head, and the things that we could do with it. I chased the dollar when I didnt need to, and I paid ever so dearly. I learned I do not have the emotional strength to invest. I would watch my investments daily, almost constantly. I would get upset, I would get happy. I couldnt sleep. I couldnt concentrate. + +So what is my gameplan now? Well, I know in the long run I can recover, but this is a significant blow to our wealth. First and foremost, ive transferred whatever I had left in my trading account back into our bank account, and put in a request to close the trading account. In the short term, I am looking for a job to do on the weekend, and maybe some night work. I am going to sell my PC for some extra cash and sell my car and buy a cheaper one. I also have to gear up to explain this to my wife at some point, but I need to get a plan together first and start executing on it before I tell her. + +Any way, its been nice to actually type this out. I feel a bit better believe it or not. I know in the long run I can recover. I just need to get through this extremely depressing time in my life. This is extremely uncharacteristic of me, and I cannot believe it has happened. Please be smart and dont let it happen to 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! + +I recently published my portfolio for 2022, and caught some grief for having 27% of my money allocated for cash, cash equivalents, and bonds. Heck, I'm 58, so that was pretty appropriate. + +But something occurred to me, I am willing to bet many of you barely remember 2008, probably don't remember 2000-2002, and weren't even alive for 1987. If you are insisting on a 100% all-equity portfolio, feel free. But, the question is whether you have a plan when the market takes a 50% toilet dump? What will you do? Did you reserve some cash to respond? Do you have any rebalancing options? + +Never judge a crusty veteran, when you have never fought a war. +Hi, my name's Ellie Broughton (elliebroughton at gmail) and I'm a UK journalist looking to write a sensitive feature on the impact of the cost of living on young women aged 20-35 in the UK. + +**I'm looking for an anonymous case study to talk about concerns about rent, savings, spending and budgets which will run alongside practical advice about how and when to seek a pay rise, and what happens when your budget has no more 'give'.** + +I've worked with sensitive and anonymous case studies for over 10 years. If you'd be open but you'd like to know more, I can answer any questions you might have on how we might work together by email. I'll be pitching to publications I've written for before such as Refinery29 and the i paper. +So i had built an algo with backtesting and forward testing results that seemed beautiful, almost perfect. Profitable in different timeframes and 10 different assets. But the only problem is when this algo gets put a live market heikin ashi candles are just not usable. They might be good for manual trading but apparently not in an algo. I was told by more experienced people that heikin just throws really good results because of how candles work, but these candles are not useful in real trading with automated trading because they just not real price action. When i remove heikin my algo is just not profitable in almost every instance which i had tested before. Need sone help or advice to figure out a fix. + +Has anyone made heikin ashi actually work with algo trading? +Could it ever work? +What could i change? + +Thank you in advance +As if coping with my dad's death isn't enough, in the past few months my mom has constantly had to deal with newly opened credit cards in his name with large amounts of credit used. She's had to contact all the different accounts and tell them that my dad passed away and they've been getting cleared one by one, but more keep coming. It's a huge hassle and I don't know how to stop it from happening. If we've already reported his death to social security, how is anyone even able to open new lines of credit under his name? Some of the credit card collectors are threatening to recoup the money from my mom's home. How do I make this stop? + +EDIT: Wow, thank you for all the replies and advice/well wishes! I'm working on freezing his credit so hopefully we can end this madness. Hope this post can also help others prevent themselves and their families from having to go through this as well. +I did it guys! After struggling from paycheck to paycheck for my entire adult life, I have landed my first “big girl job”. Most entry level jobs in my field pay $45-50k/year. I took a chance and asked for $70k in the interview because I know how urgent their staffing need is, and we met roughly in the middle of what they were offering and what I asked. It is a Monday to Friday job, 8-5, good benefits. I’m so relieved beyond words. I make barely enough to pay my bills now, so this will change my life. I plan to stay in my cheap apartment for at least another 2 years so I can pay off debt and build some savings, but it’s finally here. +Hello, fellow investors. + +&#x200B; + +I have a dividend portfolio, it has different stocks which i really like and i'm pretty sure in my picks + +&#x200B; + +https://preview.redd.it/sp9gquol4nl91.png?width=1582&format=png&auto=webp&s=1c4ff473514739d5900c98e11fcb8e4912a66eb1 + +I compared total returns of my portfolio with SCHD, and unfortunately for me, SCHD has better performance than me in last 2 years. + +&#x200B; + +https://preview.redd.it/0itincns4nl91.png?width=1583&format=png&auto=webp&s=4bd8553570dcc34d88ed6493322839fc414261d0 + +But i still not sure about adding SCHD into my dividend portfolio. + +Even if i lost in total performance, i still have yield higher than SCHD (3.54% VS 3.37%) and pretty high dividend growth for last 5 years (almost 10% vs 14% for SCHD) + +&#x200B; + +Assuming that SCHD appreciates in price more than my portfolio, it means that even if it has higher dividend growth rate, it will be leveled by reinvesting by more expensive prices (on average) + +&#x200B; + +What do you guys think about it, do you considering total returns of your portfolio or just dividend part? + +for me dividend of my portfolio looks better than SCHD, but worrying about total returns. +Have always been a goal of mine to earn $2000 a week. I can live so comfortably with that kind of money. +I’m new to this sub, and have been flabbergasting about how much some of you guys earn… + +Currently I’m 21, in my first year of uni. Bachelor of Business and planning to major in accounting. However after lurking through this sub I’ve realised that accounting isn’t the most highest paid field. + +Do you successful people have any tips you want to share? Would mean the world to me. Thanks! + +Edit: THANKS EVERYONE, I DID NOT EXPECT TO GET THIS MANY REPLIES. THANK YOU GUYS SO MUCH. +In this scenario, you are approached by people who have an *idea* of your net wealth if not a true picture. I know a lot of people on this sub advise maintaining as much secrecy as possible but it’s not always feasible. + +**What’s the best and most assertive way of saying “no” without closing the door forever?** + +I’ve been put in a situation recently where I approached an ex-business partner for some advice. We made a lot of money together in property in the previous decade but we parted ways amicably and I’ve since gone onto to other successful ventures whereas he’s been treading water ever since and lost a bunch in the 2007 Northern Rock collapse. + +I called him and asked for some friendly advice about another property deal I’d put together. Instead of offering advice, he pitched me an investment opportunity into something completely unrelated in which I’ve zero interest in being a part of. + +I was so flummoxed, I had to say the lamest excuse in the world “I’ll think about it” and hung up. He’s since had a look at my project for me and given me some good pointers but there’s an unease in the air when we met. + +TL;DR - sometimes it’s not enough to say “no thanks” to people you want to or need to keep with you (ex-partners, current accountants / solicitors etc.) What’s the best way of letting them down gently without completely removing them from your life? +1929 market crash, 1987 Black Monday, 2001 dotcom bubble and 2008 housing market crash. (Speculation here but another housing crash is most likely going to happen once people can start getting evicted for not paying when the covid eviction restrictions expire.) + +Wallstreet hasn't changed, when there is another crash, there will be a bailout (again), high ranking CEOs will get fat bonuses (again) and no one will go to jail (again). And really, who can blame them? The SEC hands out trivial fines that are essentially bribes. Wallstreet is happy, SEC is happy, the Fed, in general, is happy and the tax payers get pushed further into a serf class. It was all good in the hood until apes got involved. Now, those high ranking CEOs might actually have to answer to someone as all that money is going to people that aren't in the club and will be used to help people instead of hoarded away. + +I've seen a small amount of people say that POTUS and his administration are with us. They aren't, they don't give one solitary fuck about any of us. Actions speak a hell of a lot louder than words. We're up to, what, 6 trillion in "covid relief"? Where's that money going? Not out to the people racking up debt in these trying times. They could give everyone in the US roughly $20,000 with what they've spent. I know I (and millions of families) could've used that to get some medical bills, car loans and credit cards paid off to cut down on some of my monthly bills. + +If you want more proof, the DTCC is putting in all these rules to ultimately do what? To make sure the Fed isn't the one holding the bag and can retain some amount of power. No one knows more than the government that money is power. The last thing they want are hundreds of thousands if not millions of people being able to have the means to go do whatever the fuck they want while telling those in power to go fuck themselves sideways. No one actually wants this to happen as it completely upends and destroys the power structure in place. + +The only time you will see meaningful action on something is when the pain of consequence is greater than the pain of change. There must be waaaay more going on behind the scenes for the DTCC to be acting with a swiftness like it is. To quote Neil Patrick Harris "It's afraid!" + +This is the one chance to actually get some accountability for this mess they've made and I'm holding until someone goes to jail for this shit show. + +Power to the players. Profits to the people +Hey Reddit, + +My long term boyfriend of 11 years' mom has been struggling financially for the past couple of years and has no income except for social security. + +My partner has been giving her around $1400 per month. This is starting to become a financial burden on us and has been causing him to experience anxiety, trouble sleeping, and depression as he doesn't know what to do for his mom. He's an only child and his mom is single so he feels like he's the only help for her. They've both got no extended family and it's literally just them. + +She owns her own home, has $60k left on the mortgage for a home valued at around $450k. She also has around $60k in credit card debt. Her social security is around $1100 per month. She has a health insurance monthly payment of $900 per month and misc bills around $400 per month. + +We are advising that she sells her home as we'll no longer be able to help her with payments and she is firm on not wanting to do so until summer. We don't believe she'll be able to keep going that long and even if she were to somehow, after she sells she probably couldn't afford a new home or condo to buy with her home funds. + + She's absolutely terrible with money and spends it fritherously. She refuses to get a part time job and will not work (hasn't worked a job since she was in her 20's - she was a stay at home mom - is 63 now.) We've recommended that she gets a roommate to help with the bills and she's unwilling to do that as well. She's extremely stubborn. Even the $900 insurance bill is not negotiable as she thinks it's the best health care available and won't accept being on government benefits. (She doesn't even go to the doctor and hasn't used her healthcare in several years -even for doctor visits or medication) + +My partner said absolutely under no circumstance would he allow her to move in with us as he can't stand being around his mom for long periods of time) + +What can he do to help protect her future and keep us from having to help her? Every bit of advice he's given goes in one ear and out the other. + +Thanks for reading! +[https://www.sec.gov/ix?doc=/Archives/edgar/data/0001326380/000132638022000038/gme-20220331.htm](https://www.sec.gov/ix?doc=/Archives/edgar/data/0001326380/000132638022000038/gme-20220331.htm) + +[I don't want to brag but I definitely called this during the last run up.](https://www.reddit.com/r/wallstreetbets/comments/tqhwt9/what_are_your_moves_tomorrow_march_29_2022/i2h8t46/) +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