diff --git "a/reddit_finance_43_250k_9.txt" "b/reddit_finance_43_250k_9.txt" new file mode 100644--- /dev/null +++ "b/reddit_finance_43_250k_9.txt" @@ -0,0 +1,10000 @@ +This is why we absolutely made the right call telling MSM to fuck off. And the mods LISTENED! The antiwork crowd voted no too but the difference is the mods disregarded it for a chance to feed their egos and have a moment in the spotlight. They became exactly what they claim to be fighting against. And look what fuckin happened.... + +That could have been us.... + +That could have been us. Had we not had the right people in charge. + +Thank you mods. We appreciate you +Hey all, I figured I’ll finally share my retirement story here now that today is my first day. + +The history- I’m mostly a career underachiever. I worked in retail banking and human resources and hated it. I was lazy and mad at the world for not handing me success for work I never did. At 30, I had like $600 and no signs of potential. I had a community college degree and a bachelor's from a for-profit school that no longer existed. Great. And If my mom didn’t pass away a few years prior, I would have finished school to be a teacher, but life happens. I needed to drop out and stick it out in an unfulfilling career. + +I saw my opportunity. This thought influenced me- Not owning your life and spending all your waking hours doing something you don’t like is an awful way to live. Especially when you’re broke too. + +I wanted to marry my passion for fitness with work and decided to open a small CrossFit gym in my garage and train people after work. This was the easiest way to get into the field after considering buying a box truck and training people in their driveway lol. Thinking of the mantra “if you build it, they will come,” I knew I could get my weekend certification, buy a bunch of equipment on a cc, and be cool. But that’s not what happened. I did almost no work in building out my processes, culture, systems, etc., and no one cared to be a member. In a year, I had about 20 people total workout in my garage, 3-5 regulars—a mere few hundred dollars in monthly revenue. + +Presented with an opportunity, I could renew my CF affiliation (on credit) or let it drop and pivot. So, I thought about my skills (talking online and knowing about food/decision making), how to do this around my work schedule (9-5), and how I could still help people and make a career. + +Instead of training, I wanted to remotely manage people's diets (lifestyles). Partly because the industry is an absolute nonsensical shit show of misinformation. But I didn’t want to tell people what to eat, when to eat, what to avoid, etc., because as weird as that sounds, specific food choice, meal timing, and restriction are hardly what matters (people still argue with me about this, mainly because they make money saying the opposite or are influenced aka manipulated by another doctor turned book salesman and social media influencer. As you can see, I’m super-jaded by the field). + +I wanted to be more of a food detective. Crack the case and use a Socratic problem-solving method (guiding people to the answer through a series of questions). + +I asked myself what problems people face and what systems I could plug in to address those problems. + +Things like -people eating more than they realize, they don’t plan, feeling guilt and shame, they lie about it, it being lonely, there being no data, there’s no fun, there’s no community, there’s too much conflicting info, not knowing if it will work, crappy coaches/RD’s, and more. + +So, I started talking about my philosophy online, who were mostly people I knew in real life (big hint for anyone thinking all they have to do is post IG reels for clients). Some thought I was unqualified, a pos, annoying, not fit enough, etc. It hurt my feelings, and I almost didn’t go through with it. But I said f it. Imagine these voices preventing me from doing something awesome and helping people, is what I said. Luckily I had a few people trust me. + +These early folks got results, I would share them, encourage them to share their stories, I would take people shopping, do seminars, work with entire gyms, offices, and neighborhoods, and learn from the evidence-based community to stay up to date. I built a company many would joke was a food cult, and I embraced it. It wasn’t just weight loss or performance, though. People now knew their way around food like never before. I knew we had something special. + +I painted a picture. One that showed lifelong dieting failures, athletes, moms, dads, etc., could all succeed on my program, and it not suck the life out of them. I also gave free information everywhere and built my reputation as a CEO/coach who knew all the inner workings of our clients' struggles, the industry, business, and everything. + +After 13 months of doing this online (making more per month than my yearly salary) and working FT, I had to leap. Now, around 33, I jumped. + +Then things got wild. In a matter of a few weeks, I needed to hire more coaches. Soon after, we added RD’s to expand our offering to more people (think pregnancy nutrition) and got my best friend to quit his job and be my COO. + +Within a few years, we’d be on the Inc 5000 list and have a team of almost 100. We had no paid marketing either. We maintained world-class NPS scores while blitzing-scaling a service-based business. I can’t believe we didn’t mess it up. + +All our growth was from facilitating the image of two things and being relentless with it. 1- You’re missing out if you’re not here improving and having fun with us, and 2- there’s no better place to work in the industry. + +Doing that created what the company would become. Essentially a marketplace that matched people who needed help with those who could help. Being the CEO in it with my team and customers built that brand loyalty that made everyone mention us when someone asked how to lose weight, get healthier, or perform better. Then I would see it, pop in, and thank them even if it was Saturday night. That’s how connected I had to be. Or at least that’s what I tell myself. + +I sold in 2020 for 8 figures (sorry I won’t say the amount), stayed on for about 18 months, and today is my first day of retirement. I never thought I would be in this position, but a few good moves, luck, and support made it happen. + +Along the way, I saved because I always thought this could blow up. I never intended to sell, but having a kid, locking in the success, and projecting ahead made me realize it was the best option. I could have lean-fired early on, but selling made life a little less stressful. Being that this is FF, I think you’ll understand. + +I could have cruised along getting paid and stayed on as founder, but I wanted my headspace back. Thinking of this stuff all day is draining. + +This is a super condensed version of a cool-to-me story. I’m happy to answer questions, please ask. And if I can attribute this success to anything, it would have been my attention to my customers. I knew who they were, where they were, and what they wanted. I didn’t have projections, plans, or any typical business systems. I was good at reacting to feedback and was probably high off the growth, member stories, and job creation. This was my hobby until I fell out of love with it. + +Now, I’m going to just chill with my fam, dabble in little passion projects, and have good conversations. I still enjoy the fitness industry, I just don't want a job anymore. +She had lost all hopes but I told her there are ways she can get it back. But honestly even I don't know if she can get it back or not. + +She has sent me the photos of deposit certificates. And I said I will look into it. Can someone pls tell me what should I do to get that money back? Is it even possible? +Everyone won't monthly paying dividend stocks, I can only assume this is because when they retire they don't know wait 3-months for the paycheck. + +The way I'm seeing it is it just doesn't matter if the monthly quarterly or even yearly as let's say I have a lump sum of $1,000,000 And I decided to draw 4% a year to live on then I have a yearly income of $40,000 + +No i don't see any problem with taking money out of my fund monthly weekly or even daily at $40,000 ÷ 365 = $109.59 a day + +I can do this and it won't make much of a difference maybe a few cent a day at most + +I think the truth is although monthly dividends are convenient they are just a gimmick to pull more client into the fund or the stock aren't they ? + +What's your thoughts or opinions on monthly dividends +I used to be a proud trader and investor, determined to break through the shackles of society to reach financial freedom. I started out with almost zero, and by capitalizing on the stock market frenzy last year, I was able to completely change my life around. I used to think that if I worked hard, did my due diligence, traded smartly, I could make great investments and someday reach the pinnacle of my financial dreams. Something has shifted now. I no longer feel the same way, and I'm not sure if I ever will again. + +I wonder if it's naive of me to have thought that the free market was fair. I'm not American so I wasn't aware of the parties involved during the financial crisis in 2008, but it seems that many people are equating what's happening now to back then, calling out the blatant market manipulation in favor of the rich at the expense of the poor. + +They can crash multiple brokerages at the same time, disable purchase of specific stocks instantaneously, manipulate price action in real-time by changing the supply/demand, unleash a short ladder attack on the stock price while the trade volume is being restricted. We've always understood that the media was manipulated, but it was up to us if we wanted to listen. But our direct purchase of stocks, and outright price action manipulation, suddenly it feels very personal. + +It just makes me so sad to know that this hobby of mine that I've enjoyed and come to love so much, is actually controlled by people at the top who can do whatever they want, at any time they want in favor of their own interests. I came into the investing world filled with hope and excitement, and passion for the art of understanding business and capitalizing on opportunities. I'm sad to think that I may never have this outlook again, in light of everything that's been coming out. Just looking for words of encouragement right now. I love investing and I don't want that joy to be taken from me + +EDIT: This is not about money, it's about the integrity of the market. After some consideration, I am, and will continue to hold and buy the stock, no matter the tricks they play. +Across the globe in developed economies, real estate moves in cycles. Especially in the USA, financial advisors often ask home buyers to wait for the right opportunity before buying a home, as your dream home could be available at a big discount when the real estate cycle turns from overvalued/bubble territory to reasonably priced. + +Is there any such concept in India when it comes to buying real estate properties/ homes ? Presently, an average 3 bhk home in a huge crowded and congested apartment community in tier-1 cities like Delhi NCR or Mumbai or even Bangalore cost much more than a much larger bungalow or villa in many European cities and even quite a few US cities. For someone looking to settle down in India by buying a property, it seems there is no value in buying property in Tier-1 cities or metros. + +I was told that even though many apartment complexes have a lot of vacant unsold flats, the prices are still sky high right now.. + +Can real estate prices be expected to move in cycles/ come down in the medium term? What are the factor affecting the prices in India that one should look out for to get a good deal? +I saw that 1979, inflation was 11.35% and in 1980, it was 13.5%. If the federal reserve’s target rate is 2%, how did they allow the inflation to get so out of control? +Hey guys, It's your neighborhood friendly branch manager here with a personal finance post about credit cards. (TL;DR at the bottom) + +&#x200B; + +Normally I would not advise anyone just starting out at work to get a credit card, simply because those delightful offers and points manipulate you into spending more. + +&#x200B; + +But Covid changed everything! + +&#x200B; + +Even before Covid, Banks had increasingly moved towards digitization and instant disbursal of loans. Customers could get instant offers based on their salary credit and credit score. It looked like there was no longer a need for bank staff to manually check their salary etc. This worked well for people who had years of repayment history and had formal access to bank credit. + +&#x200B; + +When Covid struck, however, a lot of people needed cash because they were out of a job or their income sources dried up. Trouble was, they had never taken a loan, and so they didn't have a repayment history nor a CIBIL score. The ones who still had a job could get a loan based on their salary slip but small business owners/freelancers couldn't get one. + +&#x200B; + +Why? Because they didn't have a CIBIL score and they couldn't show income proof (since everything was under lockdown and they didn't have revenue). Without a repayment track record to judge them from and no proof of income, they had to resort to gold loans or selling their property. + +&#x200B; + +So when a friend of mine (Let's call him - Vijay) kept asking me about wanting a credit card, instead of advising him not to take one, I changed my mind. + +At the time, Vijay did not have a CIBIL score. If he wanted to take a housing loan, the interest rate for someone without a CIBIL score would be approx. 0.5% higher than somebody with a CIBIL score above 780. + +&#x200B; + +If Vijay wanted to take a housing loan of 50 lakhs, he would have to pay 3.7 lacs more over the course of a 20-year loan. This amount increases to 6.2 lacs in case of a 30-year loan! + +Five years ago, I would have thought "That's just 3.7 lacs over the period of 20 years" but after becoming a FIRE wannabe, I balk at the thought of paying that much extra. So I decided to help Vijay generate a CIBIL score. + +&#x200B; + +Vijay did not have a payslip, (He is in the services industry and getting paid in cash) so no credit card provider was willing to give him one, even though he was getting paid in excess of the 30,000 salary threshold. + +(Note: If you don't have a salary slip, banks won't give you a loan. So although Vijay doesn't have a payslip now, he is confident that he can get a formal one later. But good credit scores need a long repayment history, which is why I wanted to create a positive repayment history for him as soon as possible) + +&#x200B; + +And that's when I got him an FD backed credit card. My bank lets him get a credit card by providing an FD - No credit history or salary slip required. They let you use up to 90% of the FD limit (but I told him to keep it to strictly 30% of the card limits to let him increase his score). The minimum FD amount was ₹10,000 which Vijay paid up and soon enough he got the credit card over post within 7 days. + +&#x200B; + +I also signed him up for a yearly CIBIL subscription in order to check the results of my experiment. CIBIL scores didn't show up for the first three months. + +But after three months... + +He now had a CIBIL score of 740 🥳🥳. It's been six months since he got one and his CIBIL score improved to 742. [(Proof and rules on how to use it responsibly to increase your score on my site)](https://sikkanam.com/use-credit-cards-to-improve-cibil-score-get-cheaper-loans/) + +&#x200B; + +**How can you make use of this?** + +**If you are a parent with kids in college:** When your kids enter their undergraduate studies, get a credit card in their name with that 10k limit. By the time they finish it and want to go abroad for higher studies, they would have a decent CIBIL score which would help them get cheaper education loans for their masters abroad. \[CIBIL score is linked to PAN, so make sure they have a PAN as well\] + +If they decided to get a house, later on, their CIBIL scores should be well above 780 or at least close by, if they have spent responsibly. + +&#x200B; + +You can even reduce the credit card limit for them in the app \[even though the limit reported to CIBIL would be 10,000\] in case you don't trust them to use it responsibly. + +&#x200B; + +**If you have just entered work:** You would probably look for a housing loan or a personal loan for wedding expenses. Having a credit card and using it responsibly would let you rack up your CIBIL score which lets you get cheaper loans. + +&#x200B; + +**TLDR;** If you ever plan to take a loan in the future, you need to have a great CIBIL score to get cheaper loans. And since you can only generate a CIBIL score if you take a loan, credit cards are an easy way to generate and improve your CIBIL score, but only if you are able to use them responsibly. + +If you don't have a payslip, you can get an FD backed credit card from Axis, SBI, BoB, ICICI, or Kotak to generate that sweet CIBIL score. (~~AFAIK, no other bank has an FD backed credit card option and~~ it is useful for those who aren't eligible for an unsecured credit card) + +&#x200B; + +Edit: One more important point in favor of using FD backed credit cards or FD backed overdraft limits is that they are secured loans which are preferred by CIBIL and will likely improve your credit score further! +Title says it all. Not asking for a handout just honest piece of advice to help them. I’m very stressed out about this. Thank you all for even taking the time to look & respond. +I never managed to have 10k in cash in my bank account due to being irresponsible with credit and not being financially educated. + +After reading BFI and changing my mindset towards money, I have finally managed to save 10k + +[Woohoo](https://imgur.com/a/r1gjpTa) +[3YR Performance](https://i.imgur.com/Dh7Uy8k.png) + +**Thetagang Proverbs We Have All Forgotten:** + +* The Wheel is for preserving wealth NOT building it (buy/hold outperforms) +* Stop saying "The Wheel" when you are actually writing naked puts (naked puts are NOT CSPs) +* Don't try and time the market with your "red days" (I'm talking to you, summer 2020 cash gang) +* Resist being delta neutral (markets go up) +* Don't buy back your CC for a loss +* Max out your tax advantaged accounts (401k/IRA/HSA) before adding to your taxable brokerage account + +\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\* + +**2021 Performance Details** + +* [NLV Chart (+126% YTD, +$714k)](https://i.imgur.com/LBjpED4.png) + * $60k withdrawal 5/3 (2020 taxes) + * $20k deposit 6/1 + * $150k withdrawal 11/24 (Xmas gifts) +* [Month, Quarter, and YTD Performance vs. SPY](https://i.imgur.com/bbATpWF.png) +* [Biggest Winning Tickers](https://i.imgur.com/rqiBoBf.png) +* [Biggest Losing Tickers](https://i.imgur.com/5O3D1r0.png) + +**2021 Account Details** + +* PM account w/ TOS +* $1.054M NLV + * $618k long SPY + * $472k cash + * \+232/-400 XLNX/AMD (merger play) + * $34k extrinsic options value +* $56k commissions and fees ($0.3/contract) + +**The 2021 Playbook** + +* **Strategy #1 - Long SPY (15% of 2021 Gains)** + * **Background**: I am a traditional 100% buy/hold SP500 investor so I always want to maintain good exposure to the market while using the collateral for option-based strategies. + * **The Trade**: Buy SPY equivalent to 70% of NLV. + * **Management**: Re-invest premiums from theta plays and/or cash deposits at the end of every month to maintain desired exposure. + * **Notes**: Don't try and time the market! +* **Strategy #2 - /ES Strangles (15% of 2021 Gains)** + * **Background**: I switched to /ES from SPX in July of 2021 (see comparison and reasoning [here](https://www.reddit.com/r/PMTraders/comments/old2e0/comment/h5en299/?utm_source=share&utm_medium=web2x&context=3)) and use a very similar strategy which is detailed in my [2020 Recap Post](https://www.reddit.com/r/thetagang/comments/kf9txl/2020_performance_and_strategy_recap/?utm_source=share&utm_medium=web2x&context=3). + * **The Trade**: Every week, write a /ES strangle 45DTE. Number of contracts and delta are determined by desired yield and account size. My target return is 12%/year with these. This is currently putting me at 4 contracts around 5 delta. + * **Management**: For the short puts, I will add another position if the original is >21DTE and >50% profit. The new position delta/size will be determined by the strangle delta, total /ES position delta, and total portfolio delta. I will close any short put for a loss if <-300% and re-open at similar delta/size if >21DTE. For the short calls, I will close for a loss if <-500% and re-open at similar delta/size if >21DTE. If these are getting tested near expiration, I will close for whatever gain/loss at the time to avoid gamma risk. Otherwise, I will let them expire worthless. + * **Notes**: [Spintwig](https://spintwig.com/spy-short-call-strategy-performance/) has taught us that SPY 45DTE short calls are not profitable. The 5 delta are almost breakeven. But I'm willing to live with that as this adds a little negative delta to my otherwise super positive portfolio delta. +* **Strategy #3 - Short Puts on Individual Equities (20% of 2021 Gains)** + * **Background**: This is just your basic CSP stuff here except naked (cash secured is not capital efficient and cannot beat buy/hold). I try to diversify amidst all the major sectors. + * **The Trade**: Write 45DTE, 20 delta short puts. Size the number of contracts to use no more than 1% BPR. + * **Management**: Pretty standard TW exit/rolling techniques here. Will look to start taking profits around 50%+ if the DTE trade-off is worth it. I'll also take profits if it's 30%+ in a few days and/or earnings are coming up. If ITM and decent extrinsic value left, I will wait to roll until expiration day upon which I will roll to the next monthly for a credit choosing a strike based upon my sentiment. If it's deep ITM, I will look for a high IV day to roll. Of course, I'll only roll if I'm still bullish on the underlying. I avoid taking assignment at all costs. + * **Notes**: The 1% position sizing is important. If 1 position goes bad (and it will), my whole portfolio isn't stuck in the mud. I also used to add short calls as defense (5-10 delta) when my short puts went -100% but I rarely do this anymore due to whipsaw. Also, regarding earnings, as long as the ER isn't within 2 weeks, I don't care. +* **Strategy #4 - Selling Lottos (50% of 2021 Gains)** + +I'm just going to copy/paste my detailed comment from the [lotto thread](https://www.reddit.com/r/PMTraders/comments/pr84cp/lets_talk_about_lottos/?utm_source=share&utm_medium=web2x&context=3) earlier this year: + +**DTE and strike** + +|DTE|Strike| +|:-|:-| +|0DTE|25%+ OTM| +|1-2DTE|35%+ OTM| +|3-4DTE|40%+ OTM| +|7-9DTE|50%+ OTM| + +**Exclusion list** + +* No earnings or binary events within DTE timeframe + * Note some underlyings are closely correlated with others so have to be careful when these others have ER (ie DKNG w/ PENN, ROKU w/ NFLX, etc.) +* Exclude biotech, memes, WSB faves (old and new), new IPOs, low market cap (<$10B), high short float (>10%), etc. +* Check for news within 2 weeks for red flags (buyout rumors, SP inclusion, etc.) +* Check the 1YR plot and verify it doesn't look like an EKG chart + +**Position sizing** + +* All of the below analysis is done in TOS via "Analyze" tab before sending any order and is what determines the max number of contracts + * Stress the position up/down to the strike and make sure the analyzed BPR would not cause a margin call + * Stress the position up/down to the strike and make sure that |PNR|>|EPR| + * Check other [TOS PM house rules](https://www.reddit.com/r/PMTraders/comments/q4phpl/td_ameritrade_additional_portfolio_margin_house/) (mainly SPX beta test and short unit test unless 0DTE) + +**Management** + +* Techniques to use when getting tested + * Buy/short shares + * Write puts/calls to delta hedge + * Convert into a spread (likely locks in a loss) + * Roll out to next week (only do this if strikes are high enough and IV is still elevated) +* Hard stop at -1000% + +**Hedging (new for 2022)** + +* As I have decided to go full blown into lotto short puts in addition to calls, I want 6-sigma hedges. So, every week I will buy SPY 30DTE 10%OTM puts using 10% of my farthest dated short put lotto premium (maybe just use 5% of total lotto premium for furthest lotto DTE to make the math easier). + +\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\* + +* **Leverage** + +|VIX|Max BPu|Max Delta Leverage (SPY Beta Weighted Delta / NLV x SPY)| +|:-|:-|:-| +|40+|50%|2.5X| +|30-40|40%|2.25X| +|20-30|35%|2X| +|15-20|30%|1.75X| +|10-15|25%|1.5X| + +Note that I don't include lottos in my BPu due to reasoning below: + +When I check and report my BPu, I will actually de-select all my lotto positions on TOS. Why? Because only a market crash down has the potential to margin call me. So all of my lotto naked calls (usually around 70%) are safe - BPu will shrink on these in such a scenario or I could close out for a penny if needed. The remaining lotto puts (30%), are potentially far enough OTM and short enough DTE that I can ride those out. But I’m fully willing to close these for big losses in such a black swan scenario. + +* **Black Swan Hedges** + * **Background**: I still have PTSD from 3/12/20. + * **The Trade**: When VIX > $20, buy 7DTE, 10% OTM puts every week for 0.04% of NLV. When VIX < $20, buy 30DTE, 20% OTM puts every week for 0.04% of NLV. Also, when VIX < $15, buy 120DTE, 10 delta VIX calls every month for 0.08% of net liq. Do the math and this is a total of 3%/year portfolio drag. + * **Management**: Hopefully these expire worthless until I'm dead. But if not, I'll only close these for profit if I'm closing other positions for loss. TBH, I'm not entirely sure how I'll manage these when the next 6-sigma event happens, but I know I'll be glad I had them. + * **Notes**: VIX hedge based on [Option Alpha YouTube Video](https://www.youtube.com/watch?v=-luY8MHgYW0). SPY long put hedge based on my own back-testing and stress-testing. + +**The 2022 Playbook** + +* **If 100% WFH (current status)** + * Strategy #1 - up to 90%+ long SPY + * Strategy #2 - look to put on 90DTE/10delta short puts for 1% APY only on those 30%+ VIX days + * Strategy #3 - remove completely (too much work, too easy to collect bags) + * Strategy #4 - FULL SEND +* **If Hybrid WFH (eventual status w/ current employer)** + * Strategy #1 - same as 2021 + * Strategy #2 - same as 2021 but up yield target to 18%-24%/year + * Strategy #3 - remove completely (too much work, too easy to collect bags) + * Strategy #4 - "lotto-lite" 😅 +* **If 100% WFO (hypothetical)** + * Strategy #1 - same as 2021 + * Strategy #2 - same as 2021 but up yield target to 24%/year, also look to put on 90DTE/10delta short puts for 1% APY on those 30%+ VIX days + * Strategy #3 - remove completely (too much work, too easy to collect bags) + * Strategy #4 - remove completely +Positive options talk has been suppressed and FUDded for a year now. + +DFV held Far dated calls, was he wrong? FUCK NO. + +A wall street veteran saying how POWERFUL that RETAIL BUYING CALL OPTIONS is and was last January would and has set off massive alarm bells for the SHFs + +Multiple highly awarded comments on the orginal video post about options were deleted. Upvotes squashed and reddit outages all day. Sucks for the SHFs though, this just made the vid spread further. + +Call options are the number one thing they've tried to bury for the last year. + +They use ITM Put options to shit on the price for every big dip and retail can use smart Calls to raise the price and then EXERCISE those calls to squeeze the life out of them once and for all. + +They've been pretty successful at burying any positive options talk but still the truth has slowly been leaking out and apes are waking up. Apes will not be kept in the dark any longer RE options. + +u/gherkinit in particular has been fighting against this FUD for months and his posts and in particular the MOASS Trilogy DD are a must read for any apes wanting to understand options and how they have affected and will affect our beloved stock. + +Buy, hold, Drs & buy further dated call options if you know how and then EXERCISE them. (Cashless exercise, sell one call exercise another etc.) + +&#x200B; + +PS. + +Great info from u/ [**CunilDingus**](https://www.reddit.com/user/CunilDingus/)**:** "Call options with major expirations are important to price action. Don’t lose money on weeklies. The next major expiration dates are Jan 21, Feb 18, Mar 18 + +Research. Buy. Buy Calls. Hodl. DRS." + +PPS. + +I made similar comments in a few of the posts about this video today and they got a lot of awards and upvotes so I made a post. So you may have read something like this already. +*Welcome new viewers to Superstonk! Hope this hits* r/all. This post provides a fantastic overview of the GME opportunity from start to finish, and as much as some of it is a review to wrinkle-brained apes, there should also be some new information in here for all apes through the links and latter commentary. See you on the moon! + +&#x200B; + +**If you aren't familiar with 'GameStop, Ticker GME' beyond what you see in the media, you may want to take a closer look. GameStop may be the investment opportunity of a lifetime - both for the likelihood of a coming squeeze and for it's long term potential!** + +&#x200B; + +>Part 1: If you aren't familiar with 'GameStop, Ticker GME' beyond what you see in the media, you may want to take a closer look. +> +>Part 2: Short positions were *not closed*. Short interest (SI) was reduced, failures to deliver (FTDs) were hidden, and price suppression was achieved - through manipulative derivative strategies. +> +>Part 3: $GME: An Illiquid Stock, Hard to Borrow, High Reported SI & FTDs +> +>Part 4: GameStop's NFT Marketplace & Ecommerce Transformation +> +>Part 5: Planned stock split by way of stock dividend. Plus a potential Crypto/NFT spin-off or digital dividend = Checkmate + +&#x200B; + +Here is some information around the potential in Gamestop. This is not financial advice. + + DISCLOSURE: * Information contained in this email has been compiled from sources believed to be reliable in nature. No representations or warranty, express or implied, is made by as to its accuracy, completeness or correctness. All opinions and estimates contained in this email are subject to change without notice and are provided in good faith but without legal responsibility. This is not financial advice, and neither I, nor any other person, accepts any liability whatsoever for any direct or consequential loss arising from any use of this email or the information contained herein. * + +\------------------------------------------------------------------------------- + +# Part 1: If you aren't familiar with 'GameStop, Ticker GME' beyond what you see in the media, you may want to take a closer look. + +GameStop: I like this stock – a lot. Please note if you consider investing – due to inferred market manipulation, this stock should currently be treated as a speculative investment, and you will need to do your own due diligence to decide whether this stock is appropriate for you. GameStop’s stock can exhibit extreme price volatility, but I am of the personal belief that relative to other publicly traded stocks with similar characteristics, the fundamental valuation of this company should be much greater - *conservatively* $350 - $450 without manipulation and higher within the next few years as it moves towards it’s e-commerce objectives (currently trading around $166.00). A great long term value investment. + +On the upside, I also believe this stock has an opportunity for an ***historic*** squeeze! A once in any lifetime opportunity. Underpinning this it is believed that there has been mass market manipulation perpetrated. The following is information that I have put together to provide a snapshot of information leading to these beliefs. There is some great fact-based information and due diligence shared, along with some educated theoretical information. + +If you are interested in making an informed decision around this stock you may want to delve into the information and resources provided below, and I would suggest (re)watching ‘The Big Short’ (2008 subprime crisis movie) and the documentary ‘The Inside Job’. These movies highlight, among other things, the corruption within our financial markets: market makers, bankers, and government officials. They also highlight shortcomings in market regulations and the huge issues surrounding our derivative markets – which has become exceedingly ominous leading into 2022. \[[Wall Street’s Naked Swindle](https://www.rollingstone.com/feature/wall-streets-naked-swindle-194908/)\] + +https://preview.redd.it/lmh50tbldjr81.png?width=1000&format=png&auto=webp&s=38ebdadaa5e247e458fd3fad17277fc2a6592e6b + +* Companies are generally shorted when it is believed that their stock price will fall (to be able to buy the stock back at a lower price), and high short activity is often associated with an attempt to short a company into bankruptcy. For GameStop, the market for physical game media went into a state of decline with the introduction of digital and downloadable games, and GameStop’s directors at the time failed to respond to the changing landscape, GameStop's financials were deteriorating and noticeable shorting of Gamestop began escalating through 2017 to the 2020 Covid-19 period, in what appears to be an attempt to bankrupt the company. The company's shares would hit a record low of $2.80 in April 2020. However, as retail interest was piqued, there was a resounding belief that the company could turn itself around and speculation of a 'short squeeze'. The price of $GME appreciated and hit an all time high of $483.00 on January 28, 2021. +* The Securities and Exchange Commission [report released October 14, 2021](https://www.sec.gov/files/staff-report-equity-options-market-struction-conditions-early-2021.pdf) supported that there was no short squeeze in January (price appreciation was the result of regular buying pressure), and that short positions were only marginally covering during the buying period Jan 19, 2021 to Feb 5, 2021. This has left market participants with extensive short positions in the position of having to cover in a raising $GME price environment at significant losses. +* GameStop has approximately 76 million shares issued, yet had approximately 220% of it’s tradeable float outstanding in January 2021 (FINRA short interest as declared in Robinhood court documents). The rule of thumb is that short interest as a percentage of float above 10% is pretty high and above 20% is extremely high. High short interest like this affirms that counterfeit shares have been created and exist illegally. Due diligence (DD) supports that the short interest has been manipulated and hidden through derivative strategies such as options, swaps, leaps and futures; and that the true short interest could now realistically be sitting higher than 300%. +* Due diligence also illustrates how market participants are manipulating and attempting to control the price of GME through continued shorting, high frequency trading, controlling the media narrative, internalized trades, and other manipulative trading strategies. \[Note: *None* of this DD has been debunked, and much of it is evidenced by previously documented official complaints to the SEC, along with reports from the SEC, citing similar strategies used in the past against other companies.\] +* GameStop’s business’ fundamentals have improved dramatically with net sales of $6.011 billion for fiscal year 2021, an 18% increase compared to $5.090 billion for fiscal year 2020. They have expanded their product catalog to include a broader set of consumer electronics, PC gaming equipment and refurbished hardware; made significant and long-term investments in the Company’s fulfillment network, systems and teams; and have established new offices in Seattle Washington and Boston Massachusetts, which are technology hub talent markets. +* Since the ‘Sneeze Squeeze’ in January 2021, e-commerce giants have sacrificed executive talent to GameStop, with [hundreds of talented executives](https://gmedd.com/transformation/gamestop-bags-chewy-vp-of-engineering/) leaving thriving tech companies like Chewie and Amazon for GameStop. With Ryan Cohen as the new Chairman of the Board and a new [technology focused board of directors](https://news.gamestop.com/corporate-governance) (June 2021) GameStop now has a unified leadership fully committed to two long term goals: ‘Delighting Customers & Delivering Value for Stockholders’. GameStop now have a balance sheet of around $1.27 billion in cash with virtually no debt. +* GameStop is the largest video game retailer worldwide; They have undergone a radical strategic transformation, expanding their business model to compete and thrive in an era of mobile gaming and digital downloads, and have been busy reinventing themselves as a major ecommerce player. To date, GameStop has announced partnerships with Loopring and Immutable X, and GameStop's NFT Marketplace has been announced for launch by the end of Q2 2022. +* The Marketplace will be powered by Loopring L2. GameStop, in partnership with Loopring, has the opportunity to cement itself at the forefront of this new paradigm and become the destination for global digital economies. Immutable X is the back end of GameStop's marketplace, helping create NFTs and to bring onboard hundreds or thousands of game studios using their $100 million joint fund to build on the new technology platform ([https://www.youtube.com/watch?v=fne4XMhtVf4&t=235s](https://www.youtube.com/watch?v=fne4XMhtVf4&t=235s)). This partnership outlines a 2 year milestone objective of $1.5 billion and $3.0 billion in combined primary sales and secondary market sales transactions within 24 months of launch. +* Gamestop has a revolutionary, dedicated diehard shareholder base that is Direct Registering Shares (DRS) and exposing the manipulation of market makers and short hedge funds to the broader retail market. Current Short Interest and FTDs is over 24% (as publicly reported, excluding the hidden derivative based manipulation of additional SI & FTDs) , and the tradeable float is shrinking daily pushing borrowing costs higher and making it more expensive by the day for market participants to maintain their short positions. + +&#x200B; + +https://preview.redd.it/jykhg1kmdjr81.png?width=750&format=png&auto=webp&s=adb2b59caf8fafcdd3fa1476309de2e7f712a2cb + +# Summary + +GameStop has a huge advantage over startup tech-companies as it enters the ecommerce metaverse, ‘quietly making their actions speak louder than words’. With the footprint of 4,573 stores in 14 countries, and over 55 million PowerUp reward members within its ecosystem which can be leveraged for new revenue streams - as GameStop moves forward with its ecommerce and NFT marketplace the potential for this company rivals market giants like Amazon, Apple, and Meta (Facebook, Instagram etc). GameStop is not an ordinary stock, nor is it a failing brick-and-mortar retail chain like Wall Street previously thought. It is a very well financed, established growth company, with grand plans in the foreseeable future. + +The current price of $GME is demonstrably manipulated and significantly undervalued. ***Simply put - the price of $GME is wrong*** **- and will continue to be wrong until the manipulation of the stock is eradicated and the short positions are** ***closed*** **- not just** ***covered***. As short positions are forced to buy and close out their positions at the market 'ask' price, and in the event that retail owns the float and investors hold out on the sale of their shares we could have not just a ‘Short Squeeze' - but the 'Mother of all Short Squeezes' (MOASS). + +&#x200B; + +# Part 2: Short positions were not closed. Short interest (SI) was reduced, failures to deliver (FTDs) were hidden, and price suppression was achieved - through manipulative derivative strategies. + +>Part 1. It was consumer sentiment that started the 'sneeze squeeze' last January - not hedge funds covering. +> +>Part 2: Short positions were not closed. Short interest (SI) was reduced, failures to deliver (FTDs) were hidden, and price suppression was achieved - through manipulative derivative strategies. + +[https://www.reddit.com/r/Superstonk/comments/too38h/wondering\_what\_all\_the\_hype\_is\_about\_gamestop/](https://www.reddit.com/r/Superstonk/comments/too38h/wondering_what_all_the_hype_is_about_gamestop/) + +&#x200B; + +# Part 3: $GME: An Illiquid Stock, Hard to Borrow, High Reported SI & FTDs + +>GameStop's recent 10k shows the weighted averaged diluted Common Shares outstanding for GME at 72.6 million. *Less Insiders*: 12,612,303 = Float of 59,887,697. *Less:* Direct Registered Shares (DRS Estimate): 12,507,016 = 47,380,681 Float. *Less* Illiquid Institutional Unknown: 13,716,541, Mutual Funds: 7,957,066, ETFs: 6,690,476. This represents a remaining liquid float of only approximately 19.0 million shares - *but* there are currently 21.45 million shares borrowed (sold short that need to be bought back). Ortex *reported* short interest is at 24.23%. Average cost to borrow 15.1%. + +[https://www.reddit.com/r/Superstonk/comments/tot0zi/in\_6\_days\_764m\_shares\_of\_gme\_were\_traded\_there\_is/](https://www.reddit.com/r/Superstonk/comments/tot0zi/in_6_days_764m_shares_of_gme_were_traded_there_is/) + +[https://www.reddit.com/r/Superstonk/comments/ut4d86/gme\_100\_utilization\_day\_71\_via\_ortex/?utm\_source=share&utm\_medium=web2x&context=3](https://www.reddit.com/r/Superstonk/comments/ut4d86/gme_100_utilization_day_71_via_ortex/?utm_source=share&utm_medium=web2x&context=3) \[Edit May 19\] + +[https://www.computershared.net/?bot=drsbot](https://www.computershared.net/?bot=drsbot) + +[https://www.reddit.com/r/Superstonk/comments/tqsslh/there\_are\_71119269\_more\_shares\_loaned\_than/](https://www.reddit.com/r/Superstonk/comments/tqsslh/there_are_71119269_more_shares_loaned_than/) + +[https://www.reddit.com/r/Superstonk/comments/tk9jk8/dd\_rolling\_borrows\_haircuts\_annual\_slds/](https://www.reddit.com/r/Superstonk/comments/tk9jk8/dd_rolling_borrows_haircuts_annual_slds/) + +&#x200B; + +***Estimating Retail Share Ownership:*** Excludes Institutional, Insider or other types of ownership. + +* [https://i.redd.it/zwtz4i3c65h71.png](https://i.redd.it/zwtz4i3c65h71.png) +* [https://www.reddit.com/r/Superstonk/comments/t78n39/fresh\_google\_consumer\_surveying\_suggests\_830mm/](https://www.reddit.com/r/Superstonk/comments/t78n39/fresh_google_consumer_surveying_suggests_830mm/) + +&#x200B; + +# Part 4: Gamestop Marketplace & Ecommerce Transformation + +The global gaming market is forecast to be worth $256.97 billion by 2025. Back in 2019, this figure was around $151.55 billion. Gaming industry stats show that the industry is forecast to grow at a rate of 9.17% from 2020 to 2025. GameStop is exploring block-chain technologies, including an NFT marketplace, which could provide massive, untapped revenue streams. For example, OpenSea, which has a fraction of GameStop’s customer / member-rewards base, was recently valued at over $10bn based on its NFT marketplace alone. GameStop will be a beneficiary of Loopring’s revolutionary “Layer 2 Rollup” technology, which will greatly eliminate “gas fees” and reduce the cost of NFT transactions. + +From GameStop's posted job descriptions (four plus months ago): + +"At GameStop, we want to transform the way millions of players gear-up to game by offering a wide-selection products at competitive prices at your fingertips. We are a Fortune 500 company with an omnichannel customer experience that spans digital ecommerce, 4,500+ retail stores globally, and we are in the middle of a digital transformation. We're at an inflection point...want to develop our own intellectual property and take this company in a direction that's driven by technology. + +GameStop is in the midst of a game-changing metamorphosis, transforming from old school into a modern company that is driven at its core by technology. As you may have read in the news, our mission is to make GameStop the e-commerce leader in our space, and we’re looking for software engineers with bold ideas to lead the way. Is all the hype for real? OH yeah! Get in on the action NOW and join a winning team that knows eCommerce while we’re laying the foundation for the next generation of an iconic company. We’re building a passionate, diverse, multidisciplinary team of world-class designers, who are ready to transform how players shop and experience GameStop." + +[https://www.reddit.com/r/Superstonk/comments/s7lx2b/new\_combining\_the\_job\_descriptions\_tell\_us\_a/](https://www.reddit.com/r/Superstonk/comments/s7lx2b/new_combining_the_job_descriptions_tell_us_a/): + +[https://medium.loopring.io/gamestop-nft-marketplace-powered-by-loopring-l2-6cdb9289d937](https://medium.loopring.io/gamestop-nft-marketplace-powered-by-loopring-l2-6cdb9289d937) + +[https://www.reddit.com/r/Superstonk/comments/sm3of4/gamestop\_loopring\_official\_social\_media/](https://www.reddit.com/r/Superstonk/comments/sm3of4/gamestop_loopring_official_social_media/) + +[https://www.reddit.com/r/Superstonk/comments/t6x7ih/gamestops\_nft\_future\_official\_update\_sneak\_peek/](https://www.reddit.com/r/Superstonk/comments/t6x7ih/gamestops_nft_future_official_update_sneak_peek/) + +[https://www.reddit.com/r/Superstonk/comments/tqaxak/gamestop\_nft\_and\_gamestop\_wallet\_trademarks\_were/](https://www.reddit.com/r/Superstonk/comments/tqaxak/gamestop_nft_and_gamestop_wallet_trademarks_were/) + +[https://www.reddit.com/r/Superstonk/comments/uqnukd/gme\_entertainment\_llc\_has\_filed\_for\_four/?utm\_source=share&utm\_medium=web2x&context=3](https://www.reddit.com/r/Superstonk/comments/uqnukd/gme_entertainment_llc_has_filed_for_four/?utm_source=share&utm_medium=web2x&context=3) + +[https://www.reddit.com/r/Superstonk/comments/skrm0s/nft\_market\_dd\_update/](https://www.reddit.com/r/Superstonk/comments/skrm0s/nft_market_dd_update/) + +[https://www.reddit.com/r/Superstonk/comments/s7akd6/gamestops\_nft\_marketplace\_is\_going\_to\_be\_bigger/](https://www.reddit.com/r/Superstonk/comments/s7akd6/gamestops_nft_marketplace_is_going_to_be_bigger/) + +&#x200B; + +[ Projected GMV of $3.7bn over the next two years supports GameStop’s stated sales metrics in their agreement with Immutable. Credit u\/smdauber ](https://preview.redd.it/tndoccgodjr81.png?width=1100&format=png&auto=webp&s=a8b62248ab240be476e3ec824f2904802a0503a4) + +[ I project GameStop’s marketplace GMV to hit $1.025bn in 2022 and $2.7bn in 2023. Credit u\/smdauber ](https://preview.redd.it/hzrq9jzqdjr81.png?width=1027&format=png&auto=webp&s=ee2d20b5c7859ff60457dc99fb6c35aced7da651) + +&#x200B; + +# Part 5: The planned stock split by form of a stock dividend. Plus a potential Crypto/ NFT Spin-off / digital dividend = Checkmate + +**Stock Split:** + +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”) to increase authorized shares of the Company’s Class A common stock with the intention to approve a stock split in the form of a stock dividend. + +The Company’s definitive proxy statement relating to the Annual Meeting includes additional details regarding the Charter Amendment, as well as the record date, date and location of the Annual Meeting. + +*Worth the read:* + +[https://www.reddit.com/r/Superstonk/comments/u1j1gd/its\_a\_stock\_split\_in\_the\_form\_of\_a\_stock\_dividend/?utm\_source=share&utm\_medium=web2x&context=3](https://www.reddit.com/r/Superstonk/comments/u1j1gd/its_a_stock_split_in_the_form_of_a_stock_dividend/?utm_source=share&utm_medium=web2x&context=3) + +[https://www.reddit.com/r/Superstonk/comments/mqn97y/an\_explanation\_of\_why\_a\_dividend\_andor\_share/](https://www.reddit.com/r/Superstonk/comments/mqn97y/an_explanation_of_why_a_dividend_andor_share/) + +[https://investor.gamestop.com/node/19686/html](https://investor.gamestop.com/node/19686/html) + +**Crypto / NFT Spin-off:** + +GameStop could spin off their NFT Marketplace division issued as NFT units'. Shareholders would receive an NFT 'unit(s)' for every $GME share(s) they own. Any market participant that holds a short position in GME would need to provide an NFT 'unit' for their counterfeit shares - which of course they don't have. *If the NFT 'unit' is issued by GameStop is 'non-transferrable for a specified period of time' in such a way that shorts cannot substitute a cash equivalent for the unit offering - the shorts will be forced to cover! R.C.'s 'Checkmate'!* + +From GameStop's Prospectus: [https://news.gamestop.com/node/18961/html#supprom192873\_24](https://news.gamestop.com/node/18961/html#supprom192873_24) + +"We may issue units from time to time in such amounts and in as many distinct series as we determine. We will issue each series of units under a unit agreement to be entered into between us and a unit agent to be designated in the applicable prospectus supplement. When we refer to a series of units, we mean all units issued as part of the same series under the applicable unit agreement. + +We may issue units consisting of any combination of two or more securities described in this prospectus. Each unit will be issued so that the holder of the unit is also the holder of each security included in the unit. Thus, the holder of a unit will have the rights and obligations of a holder of each included security". These units may be issuable as, and *for a specified period of time may be transferable as, a single security only*, rather than as the separate constituent securities comprising such units." + +[https://www.reddit.com/r/Superstonk/comments/sjz2i3/an\_nft\_spinoff\_for\_moass\_re\_immutable\_x\_licensee/](https://www.reddit.com/r/Superstonk/comments/sjz2i3/an_nft_spinoff_for_moass_re_immutable_x_licensee/) + +[https://www.reddit.com/r/Superstonk/comments/tszhia/gamestop\_is\_planning\_on\_dpoing\_gmee\_onto/](https://www.reddit.com/r/Superstonk/comments/tszhia/gamestop_is_planning_on_dpoing_gmee_onto/) + +[https://www.reddit.com/r/Superstonk/comments/tv9pm7/ryan\_cohen\_killer\_of\_the\_shorts\_tesla\_overstock/](https://www.reddit.com/r/Superstonk/comments/tv9pm7/ryan_cohen_killer_of_the_shorts_tesla_overstock/) (edit added april 3) + +&#x200B; + +*Tesla stock split by way of dividend:* + +[ Credit u\/Money-Maker111 ](https://preview.redd.it/e2duh8wudjr81.png?width=1058&format=png&auto=webp&s=a9c398b77274c9cb9fca1bac34f70e86e18581ab) + +**Supply & Demand: $GME** [https://www.reddit.com/r/Superstonk/comments/uoe2lr/how\_gamestops\_stock\_tests\_the\_limits\_of/?utm\_source=share&utm\_medium=web2x&context=3](https://www.reddit.com/r/Superstonk/comments/uoe2lr/how_gamestops_stock_tests_the_limits_of/?utm_source=share&utm_medium=web2x&context=3) + +[https://www.reddit.com/r/Superstonk/comments/v0zrni/burning\_cash/](https://www.reddit.com/r/Superstonk/comments/v0zrni/burning_cash/) + +\------------------------------------------------------------------ + +# Resources: + +**How the GameStop Hustle Worked, June 22, 2021.** How hedge funds and brokers have manipulated the market. By Lucy Komisar, Investigative journalist and Winner of Gerald Loeb Award, the major US prize for financial journalism: [https://prospect.org/power/how-the-gamestop-hustle-worked/](https://prospect.org/power/how-the-gamestop-hustle-worked/) + +**When corporations own the media:** [https://www.youtube.com/watch?v=D9rbHpA\_6W4](https://www.youtube.com/watch?v=D9rbHpA_6W4) + +**Short sellers influencing the media and controlling the GameStop narrative**: [https://upsidechronicles.com/2021/09/05/how-wall-street-short-sellers-are-trying-to-control-the-gamestop-narrative/](https://upsidechronicles.com/2021/09/05/how-wall-street-short-sellers-are-trying-to-control-the-gamestop-narrative/) + +There are several instances with documented proof of media manipulation, and their spreading and creating FUD (Fear, Uncertainty & Doubt) around GameStop. If you look into the ownership of the country’s largest newspapers and media outlets, you will find market makers, hedge funds and big money corporations - which have their own agendas - own and influence these companies. Ask yourself, why has the media been so intent on communicating GameStop is a poor investment choice – for 12 months straight!? Why are they so concerned to advertise and advise against this company? + +CNBC cut and removed the following statement from an interview with Gary Gensler, the new SEC chairman. Gary Gensler responded by tweeting a video clip of the deleted statement from his interview: “We must guard against fraud and manipulation, whether from big actors, hedge funds, or elsewhere. We are taking a close look at market structure to ensure our capital markets are working for investors”. + +CNBC also tried to steer the narrative away from Citadel during the congressional hearings into Gamestop and Robinhood. The only part they edited out was the ten minutes and eighteen seconds of the hearing that targeted Citadel and Robinhood (between hour 2:37:34 and 2:47:52). + +&#x200B; + +**Interactive Brokers' interview with CEO Thomas Peterffy:** Brokerages cut off buying but allowed selling, a precedent setting move that prevented GameStop's squeeze in January and exposed a systemic risk in our markets: [https://www.youtube.com/watch?v=Yq4jdShG\_PU](https://www.youtube.com/watch?v=Yq4jdShG_PU) + +**The corruption of the SEC, over decades and till today, June 6, 2021:** [https://www.thekomisarscoop.com/2021/06/the-corruption-of-the-sec-over-decades-and-till-today/](https://www.thekomisarscoop.com/2021/06/the-corruption-of-the-sec-over-decades-and-till-today/) + +**Wall Street veteran Charles Gradante:** Calling out naked shorting of GameStop and the subversive strategies used by hedge funds: (listen from 3 min 30 sec) [https://www.youtube.com/watch?v=OChaTm0To1U](https://www.youtube.com/watch?v=OChaTm0To1U) + +&#x200B; + +**Gaming Wall Street:** Producer interview about the market manipulation and criminal activity surrounding GameStop: [https://youtu.be/zZMKpcn4FSk](https://youtu.be/zZMKpcn4FSk) | [https://gamingwallstreet.org](https://gamingwallstreet.org/) + +**How Wall Street Cheats The Stock Marke**t | The Problem With Jon Stewart Podcasts | [https://www.youtube.com/playlist?list=PL4RaSiGWHbPJVulK10l-KfH4woDEBorCJ](https://www.youtube.com/playlist?list=PL4RaSiGWHbPJVulK10l-KfH4woDEBorCJ) + +**SEC filing:** **Richard Evans presentation on ETF SI and FTDs:** Naked short selling or operational shorting? How naked shorting can be hidden through the clever use of Authorized Participants of ETFs : [https://www.youtube.com/watch?v=ncq35zrFCAg](https://www.youtube.com/watch?v=ncq35zrFCAg) + +**ETF Short interest (SI) & Fail to Delivers (FTDs)**: [https://jacobslevycenter.wharton.upenn.edu/wp-content/uploads/2018/08/ETF-Short-Interest-and-Failures-to-Deliver.pdf](https://jacobslevycenter.wharton.upenn.edu/wp-content/uploads/2018/08/ETF-Short-Interest-and-Failures-to-Deliver.pdf) + +&#x200B; + +**Valuing GME:** \[Note: There are several methods for valuing a company, and analyst values will vary.\] + +*Morningstar analytics* sets $GME Price Target of $315: Quantitative Fair Value Estimate represents Morningstar’s estimate of the per share dollar amount that a company’s equity is worth today. The Quantitative Fair Value Estimate is based on a statistical model derived from the Fair Value Estimate Morningstar’s equity analysts assign to companies which includes a financial forecast of the company. [https://www.morningstar.com/stocks/xnys/gme/price-fair-value](https://www.morningstar.com/stocks/xnys/gme/price-fair-value). + +*Intrinsic value analysis* on GameStop: [https://www.linkedin.com/pulse/gamestop-ordinary-stock-nor-failing-brick-and-mortar-retail-michal](https://www.linkedin.com/pulse/gamestop-ordinary-stock-nor-failing-brick-and-mortar-retail-michal). + +&#x200B; + +**Tweet from Gamestop.** Note that the reddit community refers to themselves as ‘apes’, going to the moon with the MOASS (Mother Of All Short Squeezes): [https://i.redd.it/p7ivyuap6jy61.jpg](https://i.redd.it/p7ivyuap6jy61.jpg) + +&#x200B; + +***Estimating Retail Share Ownership:*** Excludes Institutional, Insider or other types of ownership. + +* [https://i.redd.it/zwtz4i3c65h71.png](https://i.redd.it/zwtz4i3c65h71.png) +* [https://www.reddit.com/r/Superstonk/comments/t78n39/fresh\_google\_consumer\_surveying\_suggests\_830mm/](https://www.reddit.com/r/Superstonk/comments/t78n39/fresh_google_consumer_surveying_suggests_830mm/) + +&#x200B; + +\------------------------------------------------------------------------------------------------------------------------------------- + +# For Fun: + +Wall Street Pharaoh: GameStop Soundtrack: [https://youtu.be/JgrSfDppVuc](https://youtu.be/JgrSfDppVuc) + +The Big Squeeze: [https://youtu.be/YhREEtWfeUQ](https://youtu.be/YhREEtWfeUQ) + +HOLD - The Gamestop Saga Soundtrack - The Real DMT: [https://youtu.be/D\_zFBnYdZiM](https://youtu.be/D_zFBnYdZiM) + +&#x200B; + +\--------------------------------------------- + +# Reddit Library of Due Diligence, Art Books, and Periodicals + +[https://fliphtml5.com/bookcase/kosyg](https://fliphtml5.com/bookcase/kosyg) + +GameStop’s e-commerce NFT Marketplace; NFTS and Blockchain + +GameStop’s transformation, fundamentals, and prospects + +How Hedge Funds bet against you using 13F and derivatives + +Darkpools, Payment for order flow (PFOF) & Internalizing trades + +Naked short selling (illegal, but rampant in our financial markets) + +Direct Registration of Shares (DRS) - Removing shares from the DTCC and preventing the manipulation + +The GME MOASS & Infinity squeeze theology + +ETFs, FTDs (Fail to Deliver) and Short Interest + +The derivatives market and how 2008 is repeating itself + +Shareholder proposals + +The Federal Reserve and their recent 11.23 trillion dollar bail out of banks and their derivatives exposure + +Ask Me Anything (AMA) Videos and transcripts with industry professionals + +&#x200B; + +# Other References: + +Market reform advocacy led by you, for you [https://www.urvin.finance/advocacy](https://www.urvin.finance/advocacy) + +Why invest in GameStop? Computershare and Direct Registration of Shares (DRS): [**WWW.DRSGME.ORG**](https://www.drsgme.org/) [*https://www.reddit.com/r/Superstonk/comments/ptvaka/when\_you\_wish\_upon\_a\_star\_a\_complete\_guide\_to/*](https://www.reddit.com/r/Superstonk/comments/ptvaka/when_you_wish_upon_a_star_a_complete_guide_to/) + +&#x200B; + + Opinions and illustrations only. Not advice. Always conduct your own DD and make an informed decision that is right for you. + +&#x200B; + +*Edit April 5: Updated commentary in Part 1 on talent acquisition, adding hyperlink to executives. Added reference to 'digital dividend' in Part 5. Updated number of stores to 4573 for 2022 from 2021’s 4816.* + +*Edit April 9: Added ecommerce component with commentary to Part 4 Marketplace. Consolidated job posting quote credit to* u/Qwertygolol *with the post added as the first resource link*. + +Edit May 19: Updated Ortex link data and added link on recently filed trademarks. Added supply and demand link after tesla chart. + +The average home buyer at least in the GTA and surrounding areas if not majority of Canada is acting with a really strong sense of FOMO right now. Eye watering prices? No problem. Unconditional Offers? That’s what it takes. Ultra expensive house over 2 hours away from the economic core? 👍🏼 The prevailing thoughts seems like: Buy what you can immediately because otherwise you’ll be permanently priced out. I don’t think this is rational. Is it truly impossible that there would be new housing built? If there would be and it’s completely unaffordable then who the hell will buy it? If an investor buys it, isn’t there a ceiling on how much rent they will be able to extract? To me it looks more likely that there will be an ugly bubble pop than boundless price increase. Why am I wrong? +For those who don't know, PSTH is a Special Purpose Acquisition Company (SPAC) created by legendary value investor Bill Ackman. Recently, Bill announced an amazing deal that I will explain below. For each share of PSTH, you buy you will get: + +**1 share of Universal Music Group:** + +This costs $14.75 per PSTH share. Bill bought 10% of UMG at a valuation of $42.4 billion. Goldman Sachs recently valued UMG at $53 Billion, and Bank of America just valued UMG at $59 Billion. If UMG trades near these new valuations, this $14.75 share will be worth \~$19-20. + +**UMG has a Huge Moat/Significant Barriers to Entry** + +Everybody loves music, and record labels are the leeches of the music industry. Unethical? Maybe. Good for PSTH investors? Absolutely. Take a look at the names of Universal Music Group artists (Drake, Kanye, Taylor Swift, Olivia Rodrigo, and the Beatles to name just a few. To reiterate, we own the fucking Beatles!) [https://en.m.wikipedia.org/wiki/List\_of\_Universal\_Music\_Group\_artists](https://en.m.wikipedia.org/wiki/List_of_Universal_Music_Group_artists) + +**1 share of PSTH**: + +That's right, you get another company! Bill only used $4 Billion of the cash he had, leaving him with $1.5 Billion for RemainCo (the remaining company). $5.25 of each PSTH share will be allocated for this RemainCo. It's almost impossible to speculate what company this will be, although r/PSTH thinks that it's Plaid or Impossible Foods, so it's almost certainly neither (jk love y'all). When will this company be announced? Once again, it's hard to say. Bill has known about this deal structure since November, giving him 7 months to find targets/negotiate deals. After 6/22 (date of vote by Vivendi shareholders to finalize the UMG deal) , Bill will be allowed to discuss ALL of this in more depth, and maybe even give us an announcement for RemainCo. + +**1 SPAR:** + +This is the icing on the cake. 1 SPAR gives you the right to purchase SPARC which is PSTH 2 at NAV ($20). Bill has $6-10.6 Billion to purchase \~10% of a huge company, and with SPARC you get access to the pre-IPO Price. You can only exercise these SPARs after SPARC enters a Definitive Agreement with a company. So unlike SPACs, with SPA**R**C, there is no opportunity cost. With SPAR, you have the opportunity to invest at NAV only after you know what the company is. + +Not only that, but Bill also recently [tweeted](https://twitter.com/BillAckman/status/1401376625401470977) that PSTH shareholders will get access to ALL future SPARCS at NAV. Just imagine if he does like 5-10 SPARCs over the next decade. This could potentially be the most valuable part of this deal, but for now, I'll say 1 SPAR + Warrants is worth $5 because it's super hard to estimate. + +**2/9 Warrants:** + +I don't want to go too much into depth on this, but you get at least 2 warrants per 9 shares held through the merger. More info [here](https://www.reddit.com/r/PSTH/wiki/index) + +**So, what's PSTH's value?** + +$20 (UMG)+ $5.25(RemainCo) +$5(SPAR+Warrants) = $30.25. + +At the time of this post, PSTH is trading at around $22.50 which is significantly undervalued at the moment IMO. + +Shoutout to the tontards over at r/PSTH much of this is just reiterating their analysis. There's some really excellent DD on UMG over there if you're interested. +I'm a newer investor and newer reader to these threads and I'm a little surprised how casually a lot of people talk about different companies and industries that are objectively pretty unethical. + +I mean we're living through a major climate crisis and some of the most hyped investments on here are for oil sands companies (which are one of the most carbon intensive energy sources on the planet) and crypto (Bitcoin alone this year is supposed to have the same carbon footprint as all of New Zealand). + +I also just saw someone post something in another investing subreddit about how Europe might ban AI for surveillance and it seemed like a bad or annoying thing to a lot of people in the comments. + +I'm just genuinely curious: do a lot of the investor world just genuinely not care about these things or are people content to make small gains on the backs of companies that they don't agree with? Is there a point to using your gains to get a waterfront property if it's going to be underwater in a couple decades anyways? +While we get amused by Rahul Dravid getting mad at Bangalore's traffic and Cred being the most efficient startup at burning money in India, I think there's a bull case here to vindicate the VCs who threw their LP dollars after a company which made 52L in revenue last year. + +&#x200B; + +Kunal Shah keeps talking about India being a "trust deficit" society and removing trust deficit can generate positive externalities from improving transaction efficiency to happiness and perhaps reduce the daily anxiety when dealing with fellow Indians. Now beyond that abstract nonsense, we can pry out a general overarching goal: trustworthy people should be able to access credit in everyday transactions. + +Credit cards solve this problem somewhat - they give a zero interest 30 day credit to consumers while charging a merchant discount rate (MDR) to merchants. Additionally, they make interest money off of consumers who carry forward their monthly balances. + +Why do merchants agree to pay this MDR? Well it comes down to trust and supply and demand - consumers spend more if they have credit and merchants are better off using an intermediary to evaluate if a consumer is trustworthy and deserves that credit. + +That's where Cred comes in - I believe in the long run Cred can replace credit cards with a stronger credit underwriting platform and perhaps a cheaper MDR to merchants who accept "Cred Credit" (you're welcome, Kunal). + +But what's wrong with credit cards you say? What problem is Cred solving exactly for consumers? Well, credit cards suck. No really, they suck - competition in credit cards actually creates perverse incentives because card issuers go out of the way to offer rewards on cards and pay for them using higher MDRs. Overall, the cost to society increases. + +Secondly, credit cards have very low penetration in India due to the behemoth that is UPI. Who wants a cheap piece of plastic when they can pay using their phone in a secure fashion? The only problem with UPI is that merchants can't offer credit directly. Cred is well posed to become the intermediary between merchants and consumers who like to use UPI and offer a credit marketplace to solve this problem. + +Imagine your landlord being able to offer lower deposit rates because you're a Cred member. Or your local grocer offering you a 30 day credit without having to deal with the headache of reminding you to make payments. + +Execution will be key of course, but I think Kunal is in this for the long run and the flashy ads are building a huge customer base which Cred will be able to eventually monetize with the right credit offerings. + +&#x200B; + +Edit: This elicited a healthy dose of emotion, cynicism and mockery. + +To address a few frequently mentioned comments: + +1. Cred cannot become CIBIL or Experian or a credit rating agency without the government's blessing. + +Agreed. I don't think they will become a credit rating agency directly. They will probably use existing credit rating + their own underwriting model using the data they collect to better control credit underwriting risk, and offer cheaper credit compared to traditional lenders. + +2. Cred is a scam/fad/VCs are stupid/VCs will file police complaint etc. + +Maybe. But the implicit premise of a bull thesis is that the founder, company and VCs are bonafide and not out there to scam each other or the customers due to reputational risk. It would also be ironic for a person who keeps talking about trust to actually be a scammer himself. + +3. Cred will sell your data + +Yes this is a possibility. But building a business model around the data (credit history) is likely more profitable than selling the data itself. The idea of this post is to explore a different business model with some creative conjectures. + +&#x200B; + +Edit 2: I exaggerated the "credit cards suck" part a little bit. But to explain how credit card reward programs lead to price increases, have a look at this article: [https://nymag.com/intelligencer/2018/10/are-other-peoples-credit-card-rewards-costing-you-money.html](https://nymag.com/intelligencer/2018/10/are-other-peoples-credit-card-rewards-costing-you-money.html) + +Basically, credit card companies charge merchants a higher MDR for the privilege of accepting a premium VISA/MC credit card which offers better rewards to consumers over a standard no-rewards card. Merchants who want to accept Visa have do not have an option to decline these higher MDR cards. Of course, merchants have no option but to increase their prices for everyone to compensate for the higher transaction costs of a small percentage of premium card swipes. +I cannot understand the "any selling is weak hands" argument. Why not spend a little more time paying attention to the economy in the short-term, so you can make proactive decisions about your investments? + +Here's a bit of reality for all you genius apes. + +The fed meeting is tomorrow and its going to be a .75 basis point hike. First time since 1994. Some of this is already baked into markets (I'm assuming you've realized by now that your stocks are down almost 10% and crypto is down 30% since Friday), but there is always more room to drop and more pain to come. + +A lot more. + +When JP pulls a switcheroo from .5 to .75 a mere 36 hours before the Fed meeting, you had better bed your ass that he'll open up the doors for more hikes at .75. And he should. A CPI at 8.6 is bonkers with a base funds rate of 1.5%. It's borderline economic catastrophe. Since the invention of the dollar, rate hikes have only successfully brought down inflation once they got within 2.5% of the inflation rate. Get your calculator out bc that means if the inflation rate were to stay at 8.7 (yea right) it would take 6 more rate hikes to get us in the functional range. When he says that "we are now considering .75 rate hikes in July and September, possibly higher" you had better believe people are going to trade whatever they can for cold hard cash. + +And that's not all. + +You've probably heard of Quantitative "Easing". That's how the Fed "prints" money into existence. They create the money on a magic computer and use it to purchase treasuries and mortgage-backed securities (those bundles of mortgages you heard Christian Bale and Steve Carrell talking so much about in The Big Short). The Fed bought 3 boatloads of this stuff in 2008 (these purchases are referred to as the "bailouts"), and up to now they've got about $8,500,000,000,000 worth. That's trillion, with a T. + +Now we get to play a new game. Quantitative "Tightening". + +Starting tomorrow (Wednesday for anyone late to the party), the Fed will sell $45,000,000,000 in assets onto the open market. That's going to be a whole lot of pressure on markets to stay up and we all know people aren't exactly buying-hand-over-fist right now. Their purpose is to bring markets down. That, by definition, is fighting inflation. Remember: price up = bad. Price down = good. + +But the QT fun doesn't end there. The Fed is going to sell another $45 billion in assets in July, and another $45B in August. Then, they will increase the rate to $95 BILLION EVERY MONTH starting in September. At that rate of monthly selling they won't run out of MBS for 7.5 years. + +Let's talk about those mortgage-backed securities for a second. Those bundles of thousands of mortgages we call MBS start out when you buy a house. Or when your cousin buys a condo to rent on Airbnb. Remember when you finally closed on your house and 2 days later you received a letter saying that your loan was purchased by another lender? "Underwriting" is your lender making sure there is a buyer ready and willing to buy this loan the moment you close on the property. That's why you get the notice right away. As you were figuring out to whom you should make your mortgage payment that new lender was bundling your loan with many others to sell yet again to a bigger bank. The bundle grows each time and at some point they refer to them as MBS, and for some reason they are considered much more secure than individual mortgages. They are given ratings like A, BB, CCC, etc. Picture Ryan Gosling playing jenga. Now when the biggest MBS customer not only stops buying but starts dumping MBS onto the market, you can imagine the demand for these bundles of joy will shift. Soon smaller banks can't sell to bigger banks as easily as before. And eventually not at all. This past Friday the market for MBS actually hit "zero bids" for the first time since 2008 (you might have seen a tweet from the actual Michael Burry). As loans become harder to sell, will also become harder to write. And we know what that will do to the housing market. Remember: price down = good. + +Now you're getting it. + +Lastly, because my legs are asleep, you need to understand that most of the money that came into crypto since 2017 was not from people here on reddit. Many of them do not share your diamond hands conviction, and their crypto investment doesn't represent an "inflation hedge". It represents the riskiest thing they've ever done with their money. Ever. Big risk = big reward. And when both the stock market and the housing market get tumultuous, risk assest get sold first. That is what you are starting to see. An almost perfect correlation between crypto and the Nasdaq, just where the swings in crypto gains and losses are exaggerated. + +Unfortunately we are probably one or two cycles away from certain cryptos being seen and used like the scarce resource inflation hedge that they really are. + +So here you are, with all this new knowledge and a bag of Shitcoin Potpourri. And there is a train coming tomorrow that will last until at least through September. + +Good luck! +The wife and I are essentially adding a third woman to our lives who will live with us shortly. + +Is there any legal issues to be concerned about in a long term situation with more than two individuals? +1. Avoid jewellery at all cost , when you go to sell expect 20 percent of its value to disappear + +2. Avoid buying coins from reputed jewellers online or from banks . Buy only .995 purity coins of the highest weight you can afford. That too from a primary dealer . You save a lot on making charges and margins . + +3. Sovereign gold bonds beat all gold etf’s. +I did a valuation of Intel ($INTC) as many of the Redditors here had it as one of the top 3 choices to invest in and I had few messages to value it as a company. + +The client computing division is doing an amazing job (steady growth and operating margins of over 40%). I wasn't very happy about the data center one due to the decline in margins. + +My model forecasts 5% revenue growth (lower than the 6-7% historically), an operating margin of 30% (in-line with historical profitability), and WACC used as a discount rate (6.5% - based on the risk the company has). + +Overall, a great balance sheet with an extremely strong cash position, high margins, and great in generating free cash flow. In addition, the number of shares outstanding decreased significantly over the last 5 years (4.7bn in 2016 --> $4.1bn now) + +Based on these assumptions, the value per share is **$86.09** vs. the current price of **$51.50**. + +Below is a link to my video where I explain my assumptions and go through the details: + +[https://youtu.be/SsUmu0N5ZGk](https://youtu.be/SsUmu0N5ZGk) + +Note: All of the videos are for entertainment/educational purposes and feedback is always appreciated. I'd love to hear your suggestions on companies that you believe are a good opportunity now and I'll be happy to do a valuation. +I don't know if this subreddit is appropriate for what I'm posting but I needed to share this with someone. + +Over the past few years, I have been struggling with paying off my credit card dues. (Not exactly struggling since I have been paying off a sizable chunk each month so as to not impact my credit score but you all know how credit card debt is.) + +It all started when I had to make credit card payments for a few things during the time of my wedding a few years back. At the time, I though "No biggie! I will just pay everything off with my next paycheck." But then, there was a medical emergency in my family and a few more personal setbacks. Long story short, few months after my wedding, I was looking at credit card debt of >1 Lakh. Not to mention I also have a ongoing mortgage. But by some miracle, I am able to pay that off regularly. + +I was not exactly struggling financially. I have been making few investments in some short term and long term mutual funds. Also tried to create a few deposits to save for a rainy day. But the debt was still a little unsettling. Also, I was aware that paying minimum dues on credit cards is a very bad idea. + +So I decided to pay 10k each month for my credit card and set aside a few in savings. But personal setbacks kept happening and I ended up accumulating more debt than I paid off. + +Then this year, COVID happened. Things looked bleak. But I managed to switch into high gear and reduced all my spending and just cut off all unnecessary purchases. + +The moment market returned to somewhat normal status, I sold off shares and mutual funds that were in the green. Accumulated any savings I had made over the years and finally paid off all my debt. :) + +I feel so relieved now. It's like a huge weight has lifted from my shoulders. I know I withdrew my money from the markets too early but atleast, I am credit card debt free. I still have the mortgage to worry about but that's ok. I still have some money invested. Now I can focus on saving more and over the period of time pay off the principal on my mortgage. + +Now things look a lot better for me financially. I am much smarter with my investments. Debt is not necessarily in a bad thing but you have to be careful about not falling into the credit card debt trap. +This isn't fud or anything. I actually have most of my money in crypto so I make posts like these somewhat in part for my own sanity too and the discussions on these topics. + +I notice a lot of smart people who analyze the market seem to think there's always a strong likelihood of reaching new highs in the future. + +IE- the market may go down a lot and reach bear markets but somehow it will bounce back and eventually reach new all time highs at some point for bitcoin, etherium and others. + +I'm curious to ask here- how confident are you that crypto will continue to do this and why? + +👨‍🌾 +I really don't understand basically anything about options, and calls and shorts or anything outside of actual stocks. + +I've only started investing for a couple of months now and have barely scratched the surface when it comes to this. I tried googling several times and I just couldn't wrap my head around calls, how do they work? How do you even buy them, I found the option in my app... I just didn't understand calls or puts, and buy to open? buy to close? sell to open? sell to close?... + +Any help would be appreciated. + +Thank you +Even with the best of intentions, giving an Ethereum address in a publicly link-able way (like your Reddit username) is not a good idea. + +Even if you open a new account to have some ETH transferred to you, the moment you transfer the ETH to your other account, it will be trackable. And you know, blockchain never forgets. + +It means, with some digging, anybody can associate your main ETH account(s) with your Reddit username. + +At the very least, you can become targets of social engineering/phising/etc.. attacks. + +Just a warning. Stay safe. + +Edit: Glad that this took attention, hopefully it increases awareness. +A redditor asked what to do if they already posted their address with their username. +I'm no security expert but here is what I'd do: + +* Delete the comment immediately +* If that was a newly generated address, don't make a transfer to another account. + +Edit2: A good practice if you absolutely must give your address publicly for example if you want to give your address for donations, etc.. make sure to keep it separate from all your other accounts. Later if you want to cash out, send that funds also to a separate address on an exchange. + +* If that was your main address or you already made a transfer to your main account: +/u/CarrionCall gave some good general security tips on the last paragraph of his comment below. Have a look. +**TL:DR - Here's the proof... we were lied to.... the numbers don't add up.. shorts did not cover during January and I still don't see how they could have. Read this FULLY and tell me I'm wrong** + +\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ + + My fellow Apes, + +Lately I've been thinking about the short-interest publication by S3 last year when Ihor (yeah, remember him?) tried to explain how the short-interest reached 140%. This was a central topic to our conversations on previous subreddits and it seems to have been forgotten. We kind of glazed over it during the hype and I don't think we ever documented the process or properly defined WTF happened. + +I'm putting this DD together to analyze the timeline of events. Just so there are no doubts about the actual SI %, I grabbed this screenshot directly from the [SEC's report](https://www.sec.gov/files/staff-report-equity-options-market-struction-conditions-early-2021.pdf) last October. + +[page 21 of the PDF](https://preview.redd.it/kdmui3s8llm81.png?width=891&format=png&auto=webp&s=7bc018c0bc88d2eefe65706e21110323806ca31e) + +When everyone found out the SI% was this high, there were suddenly SOOOOOO many questions asking how it can even happen. Without a way to accurately determine the SI% using public info, several of us used S3 and Ihor because they had been relatively objective in the past. + +Anyway, prior to January no one really paid enough attention to actually give a sh\*t about these figures. Or better yet, there weren't enough eyes on the issue to dig into it. That obviously changed after January and people like Ihor were suddenly faced with some serious questions, primarily *"HOW THE F\*CK DO THESE PEOPLE SELL MORE SHARES THAN EXIST"* + +...I remember it like yesterday.... + +There was a *very* quick narrative change from the S3 team.. Ihor quickly went from supporting the traditional (and more objective) equation ...to Frankenstein's monster of a formula.... + +[https:\/\/twitter.com\/ihors3\/status\/1354856088907210754](https://preview.redd.it/pbe5f56yglm81.png?width=597&format=png&auto=webp&s=54e87f206b1eaf2a27530dbd97f584adfd8e4eb7) + +&#x200B; + +Let's dissect this sh\*t one step at a time because there's A LOT going on in this post... \_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ + +**Step 1: WTF is a synthetic long?** + +Ihor states that every short sale CREATES a synthetic long.. + +Whenever you short sell a stock, the obligation to repurchase that share at a later date is created. Therefore, what Ihor is saying is that each obligation to purchase a FUTURE share should be treated as an ADDITIONAL share to those that already exist.. + +His own words..... **"the traditional float number in the SI % Float calc is** **WRONG"**... Keep in mind this was literally during the peak of the event in January... convenient timing, right? + +\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ + +**Step 2: Redefine the SI % calculation to include synthetic longs** + +Get ready because sh\*t is about to throw you for a f\*cking loop... Ihor is literally suggesting that the SI% should include the short positions IN THE DENOMINATOR of the calculation, AS WELL AS THE NUMERATOR.... If you keep the same figures I reported above (70m / 50m) and recalculate SI% the way that Ihor suggests, here's the result: **70m shorts / (50m float + 70m SYNTHETIC shares) = 70m shorts / 120m TOTAL SHARES = 58.3%** + +Surely to GOD we haven't been reduced to this level of desperation... but here's his post from the **VERY NEXT DAY**. + +[https:\/\/twitter.com\/ihors3\/status\/1355194252674953219?lang=en](https://preview.redd.it/k5miphuhylm81.png?width=590&format=png&auto=webp&s=bd434d0f02026369b5339f801336fbb3b0d6401a) + +Now I'm no genius, but it REAAAAAAAAALLY looks like Ihor reported the actual SI% using the new figures after 1/28/2021 **AND reported his new S3 calculation using the synthetic longs in the denominator....** + +Want more evidence? Take the 57.83m shares that Ihor reported as sold short, add those to the number of shares that were in the float (50m or so), then divide that total by the 57.83m..... + +**57.83m / (50m float + 57.83 synthetic shares) = 53.63%....** f\*cking WHAT!? + +Ihor reports 53.12% and I calculated 53.63% by shooting from the hip?! GTFO.. + +Based on the SEC's report, we know there was a small amount of covering during this time and I'm not doubting that the short interest dropped to 113%, but if the ACTUAL short interest was still 113% after we hit our peak, then when the f\*ck did they cover? (I'll come back to this, later) + +\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ + +**Step 3: You can't get 5 quarts of milk out of a gallon jug!** + +Apparently, this guy is appealing to the common sense of the average investor by playing dumb.. Why do I think he's 'playing' dumb? + +**HODL my f\*cking beer and watch this..** + +If you haven't read the HOC series and don't know about the ways that companies fail to mark the short sale indicator on their shares, then I would suggest you go back and do that. It's the most obvious way for a company to conceal short positions. It can go on for years without people knowing and it creates millions of phantom shares, which I'm pretty sure everyone knows about at this point. When phantom shares are lent multiple times because they are never documented to begin with, you most definitely have a 5th quart of milk, dumbass. + +But let's assume you DON'T know about that... Check out this FINRA violation from Barclays: + +[https:\/\/files.brokercheck.finra.org\/firm\/firm\_19714.pdf](https://preview.redd.it/zbl73bat0mm81.png?width=771&format=png&auto=webp&s=cf52a95aa0846ea699aead4bb8ba81dece62c459) + +So people like Ihor use numbers that are provided from a source, which is usually these f\*ckheads. The biggest issue that most of us have been talking about is the ACCURACY of those reports. When Ihor gets his report, there's no way to validate the numbers because it's not his calculation to validate. + +Instead, someone like Barclays (listed above) uses their own "methods" to determine if they are long or short on a given stock (or derivative). Therefore, if they include a number that is calculated erroneously, people like Ihor have to use that faulty information. + +Here in lies the problem and this is why I think Ihor is full of sh\*t. For someone that's a "Managing Director of Predictive Analytics" at a Financial Analytics Firm, you can't assert that you are unaware of these errors within your source information.... I have half a wrinkle and I can put this sh\*t together so there's no way in Hell that you can't. + +Anyway, Barclay's over-tendered 270,000 shares in a company because it miscalculated it's long position. They manually calculated their long position using multiple systems which **ultimately excluded a short position** that was housed in (yet) another system... + +Now we know this isn't a major f\*ck up compared to the crimes I listed in the HoC, but it's plenty of ammunition to blow more holes in Ihor's milk jug theory. If Ihor's source report excludes these shares, it means that all of the shares which SHOULD have been included in his report, WEREN'T... + +Furthermore, I pulled this from the SEC's report: + +https://preview.redd.it/0n3tjjobdmm81.png?width=868&format=png&auto=webp&s=09944a1fe016271800b4af7b21cae070d95d79f1 + +So not only does the 5th quart **exist**, but you never **included** the 4th quart, either... + +Huh.... 'magine that.... + +\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ + +Now then... where was I? + +Aside from Ihor's proprietary SI formula and his blatant gaslighting, what actually happened to the shorts during January? + +*....Well HODL on to your f\*cking hats...* + +Let's get back to the timeline... on 1/29/2021 Ihor comes out with a new SI figure which shows the new S3 calculation. I truly believe this was the beginning of the media campaign to pump FUD into retail investors. At this time, many people were referring to the run-up as the short squeeze, or even a gamma / delta squeeze. We had no idea what it was because there was no financial information about it... HOWEVER.... It LOOKED a lot like a short squeeze.. + +As we moved into the first week of February, it's as if all of the news outlets were trying to shout the same story: **the rally has GameStopped and the shorts have covered**. Here's just ONE from CNBC.. + +[https:\/\/www.cnbc.com\/2021\/01\/29\/gamestop-short-sellers-are-still-not-surrendering-despite-nearly-20-billion-in-losses-this-year.html](https://preview.redd.it/74hewsm5bmm81.png?width=1014&format=png&auto=webp&s=20003b4273059b977f7590b4766eaa25e4366bd9) + +&#x200B; + +We all saw how many tactics that were used to simultaneously promote the same story in favor of corporate interests. They acknowledged that Redditors had caused some damage to the hedgies, but ultimately it was over and **"MOST OF THE SHORT COVERING OCCURRED ON THURSDAY, WHEN THE STOCK FELL FOR THE FIRST TIME IN SIX DAYS."** + +Note the comments regarding other short sellers holding and / or taking new positions against the stock.. Anyway, this was also published on 1/29/2021 and includes quotes directly from S3... right after S3 publishes new figures which indicate declining short interest.. + +Several of us thought they would cover once the buy button was blocked by certain brokers.. It was the perfect opportunity to do so because supply went WAAAAAAAAAAAYYYYY up... + +...and yet, the total amount of SI on 1/29/2021 was still over 100% and covering would have meant financial suicide... these f\*ckers have been shorting meme stonks for literally a decade.... back when the price was like $4 - $5 a share.... imagine still paying $100 or even $50 a share to get out of that bet.. + +So what's a better thing to do..... nuke your long positions and cover, or spend the cash to pump media FUD and make it look like it's game over? + +&#x200B; + +IDK.... you tell me... + +\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ + +Yet again, I reference the SEC's official report.. + +https://preview.redd.it/646h1fmmdmm81.png?width=857&format=png&auto=webp&s=46ab1a42ad2f7bd44f430566bb6edc3b39f16b28 + +It's nothing new... we know the SEC reported that most of the buying was from retail and not shorts... but look at that last line..... ".. sustained the WEEKS-long price appreciation...." + +..Well tickle-my-balls.... so what exactly happened to the shorts? + +[Figure 6 from the SEC's report](https://preview.redd.it/wc0j36uxdmm81.png?width=847&format=png&auto=webp&s=7496333e1c4142088fa82a2650efeae72dd823b5) + +The blue bars are total buy volume and the red bars are buying from short sellers.. + +Look at all of the dates between 1/19/2021 and 1/29/2021... remember what Ihor said about this time frame? + +...we dropped from around **140% to 113%**... as of 1/29/2021, Ihor said the ACTUAL short interest was 113%.... that's BEFORE using S3's new SI% calculation..... + +Now go back to the red bars...... assuming 140% was the high... you mean to tell me that ALL of that buying was only a 27% reduction... (let me double check my maff.... 140 - 113... yup... 27%) in the outstanding short interest?.... + +Did they cover after the price dropped while the buy button was disabled? + +IDFK, you tell me... does it look like there was much activity from short sellers covering after 1/29/2021? To me, it looks like these mother f\*ckers spent money trying to gaslight the population and hope we washed our hands of it.... + +There is NO F\*CKING WAY short interest dropped below 100% after all of this... + +Not to mention this PROVES the media lied to us for MONTHS about shorts covering because the SEC determined that was a HUGE F\*CKING NO. + +&#x200B; + +&#x200B; + +We weren't wrong: we were gaslighted and lied to. + +Here's the smoking gun. + +&#x200B; + +Someone's not telling the truth. + +&#x200B; + +DIAMOND.F\*CKING.HANDS + +\#GMEtotheMOON +You see this in pretty much every macroeconomic decision the government makes… it’s a way to squash or manage demand when in theory you could turn an inflationary economy into a boom by producing more goods, right? Why don’t governments turn to things like business and licensing grants, less strict regulations etc during tough times to stimulate production? Is it just easier to pump interest rates and act like you did something? I’m just trying to figure out why they don’t do something different, when you’re constantly hearing that the only choices the world economy has right now is hyper inflation or depression. +Posted this in PF a week ago but it got removed. Hopefully you can help. + + +Hey guys, I wanted post here to see if you had any advice. My dad passed away on Friday, a few days after I started college for the first time. I was never close with him, and he and my mom got divorced when I was young. I was informed this morning that I will receive an inheritance as I am over the age of 18, and it is a significant amount, in the mid/high 8 figures. My dad's lawyers say its tied up in equitys or something, and I'm not asking for advice about what to invest with it, I think it's being managed OK right now. My question is this: what do I do?! I was going to major in buisiness administration but now that doesn't seem like it makes sense, as I already kinda have made more than I ever would. I dont have any other majors in college that interest me, and I don't know what to do. Should I drop out of college and do investing full time? I can probably do angel investing or startups or something, but I don't know. Thanks. +There are times when we all might feel that we could be doing better, achieving higher and higher gains. I’ve set my weekly profit goal at $600. If I can do that consistently, it’ll be like working a 2nd job while hardly working at all. The wheel has enabled me to do that for the most part. Thanks Theta Gang. Good luck out there +Hey guys! I'm back six months later with a new version of the budgeting spreadsheet I made. Earlier this year I posted the spreadsheet I made for myself and it really resonated with people. As I got more and more feedback I found places where I could improve and develop the sheet into something easier to use but still useful. + +You can find pictures of it [HERE](https://imgur.com/a/63LxvUQ) + +A bit of background on me and why I made this- and also why it's made the way it is. I grew up poor and was never taught about HOW to handle money. If we had money it was already needed for other things. Food, Bills, all of the money we had already had a place. This made me get a mentality that if I had money I needed to spend it before something came up and the money would go. It's unhealthy, but it was the only thing I knew until I moved out. I was taught that money would disappear if I didn't use it, so I just USED it. Even now I still feel anxiety about money and can spend recklessly if I'm not careful. + +&#x200B; + +Another problem I faced is that I have ADHD, so impulse control can be hard, and it can also be hard to keep track of every purchase and focus on a bunch of aspects of a budget. This spreadsheet is made so you only focus on ONE number. + +&#x200B; + +I have made this sheet- and previous versions of it- with three goals in mind: + +* That it be easy to use +* that I can focus on one daily number while supporting my long term goals +* that it be a good starting place for people who have never had another budget + +The sheet is divided into a few different tools. + +Budget: + +* Select your pay schedule, add any extra income/tips that you get monthly and select the percentage of that income that you want to save. +* the credit card section allows you to input up to five cards and adds your monthly car payments to your expenses +* The expenses area is where you'll add all of your itemized expenses. You can also select when your bill is due during the month- allowing you to see if early on in the month your spendable is different from later on in the month. + +Your budget summary at the top is the breakdown of all the information below. YES I know pie charts aren't useful for everything- but that is useful to visually digest information. Look and see where your money is going, see if you spend more than you earn, and finally- see how much money you can spend. + +&#x200B; + +This sheet focuses on giving you ONE number to remember. Daily Spendable. If you want to spend money throughout the day you just have to make sure you DONT go over that number and you will always have enough to cover any other expenses. + + I don't work well with a lot of budgets because I have issues imagining the big picture. By giving myself a daily/weekly/monthly budget I can make sure that on any given day I haven't spent more than I'm allowed to- and if I do i can see where I'm borrowing from or where that money is supposed to come from. + +There are a few extra features too- a large purchase calculator that lets you figure how long youd have to save to buy a larger purchase. It includes a monthly tracker that lets you see what youre spending realistically vs what you've budgeted for and finally a daily tracker for further breakdown. + +&#x200B; + +Finally +[LINK THREE](https://docs.google.com/spreadsheets/d/1vekdgMTyWO9VSTyDN-8XVr4I-WGuDfpbiZd6-vrpf_Y/copy) + +Changes: Added a bi weekly option so you stop asking me to redo math, please yall, its an open spreadsheet you can edit it but i did this one for you. Also NOTE: Yall i wont make an excel version. Some of the functions/graphs break, and the whole point of this is that i made it for myself and i want to share it freely, what means not a paid program- i'm sorry! +This is for my new step son. He’s not expected to pay for anything but I want him to start learning about money, saving up for things you want, waiting/patience when you can’t afford something, etc...My dad did this when I was young and i think it teaches a lot of great lessons. He likes legos, toys, and Nintendo. He does a few chores around the house and I’d like to reward him for that as well as teach him some life lessons. +With the Constantinople upgrade and issuance reduction (3 ETH per block to 2 ETH per BLOCK) around the corner, many argue that the bottom is either in or near, since the ETH inflation rate will be dropping to essentially match that of BTC's. + +Others argue that BTC has farther to fall and will drag everything else with it. + +So which is it? Has ETH bottomed or not? + +[View Poll](https://www.reddit.com/poll/9yg8r6) + +Other than a speculative asset with a glorious whitepaper and an impressive "ex workers" of big name companies all around the world, they all promise the Moon but underdeliver. I have yet to see something that has an actual use in realife that is using any of those tokens/coins technology. + +I understand that there are companies looking into metaverse, NFTs or accepting Bitcoin as legal tender, but those are very niche and far +from mass adoption. + +Honestly talking the only projects i've seen of use are cost cutting protocols such as MATIC & LRC for transactions, and Brave Browser (BAT) which i actually find it awesome to use. + +Do you have other opinion? Are we throwing money into the void? + +Are we any different from gambling our money if the rate of uselessness is so high? +When I travelled around Asia it was amazing to see how many businesses are booming in the evenings. Office workers who work until 5 or 6pm can go pretty much anywhere after work. + +It is such a huge contrast to here. I often get so annoyed that there are so many places that are only open 9-5. if you’re a white collar worker you either have to use your lunch break or adjust your working hours, which is not possible for most people. + +I welcome more examples: + +- I tried to call TNT to book a parcel pickup. Their call centre is only open 9-5 +- I try to make a GP appointment. Our local clinic is closed weekends, 9-5 most days and only open until 7pm one day a week +- I want to go clothes shopping on a Tuesday night in the suburbs. Unless I go into the CBD my local suburban MYER closes at 5.30pm. +- I want to pick up a newspaper for my grandmother on the way home after work. My local newsagent closes at 6pm. I have to end up going to the servo to get one if I can’t make it in time. +- I want to go to the bank to sign our loan papers. The mortgage broker didn’t organise it to be done online so I had to take annual leave to go to a branch since there were no weekend appointments near us in their 3hr opening window a Saturday. +- I call the bank in the evening and they answer (great) but then for some complex enquiries we had they need the “accounts team” to help and that team only works 9-5 weekdays…. so I have to call back then. +- I go to book my car in for a service online. They then tell me it’s only “confirmed” once someone from the service team calls me (during 9-5) to lock in the service. Why? That’s their process. I have to take the call during work hours. No VW dealer is open weekends anymore for servicing so I have to embarrassingly tell my boss I can’t work the full day to drop off the car at 8am and pickup at 4.30 before they close at 5pm, missing an hour of work that I have to make up in the evening. + +I feel like Australia has to evolve from this”9-5 as the default”. I reckon a lot of businesses would do really well if they were open later. + +For some reason we have this social contract that people must always go straight home after work on a weekday and all life admin can only get done during business hours somehow between work, or weekends. Thoughts? +* The RBI order will not impact existing customers of Mastercard +* The action has been against the payment system operator for violating RBI's norms on the storage of payment systems data + +Suddenly RBI is in full force. + +[source](https://www.livemint.com/industry/banking/rbi-restricts-mastercard-from-onboarding-new-customers-in-india-from-22-july-11626265610221.html) +I wanted to ask in this forum specifically since there are a lot of those who are well past this and are still working. + +For those of you who think they would struggle on less than 5M (including their primary residence), what makes you feel that way? What is it that you would have to do away with? Why not pull the chute now? +Sure, we'd all feel the pain, but apparently we need the pain, and we wouldn't have to help an industry that won't give even one sick day to rail workers. Are interest rate hikes the only acceptable mechanism to control inflation? +Wouldn’t it be great if we could find great stocks before they explode? I guess that’s the most common question we ask here that how to invest in a stock before it has already rocketed. Now this is my very first DD actually and I’ve spent considerable amount of time in performing this due diligence, however I might be missing the finesse of some of the elder gods here so kindly excuse me for that. But this is a stock that hasn't made any major movement yet but I believe it has a very high potential to grow exponentially. + +**Bee Vectoring Technology (BVT) (CSE: BEE.CN;** **OTCQB: BEVVF**) is a Canadian venture company and it’s core objective is to provide scalable, sustainable, natural commercial farming solutions. The most amazing stuff I’ve ever heard & read honestly. They use BEES to deliver natural pesticides with the natural process of pollination. How fantastic is that? They are saving the farms & earth at the same time. PRODUCT - As per their official website, BVT’s Vectorhive™ system uses commercially reared bumblebees or honey bees, whichever is the preference to a grower’s practice, to deliver BVT’s patented Vectorite™ with CR-7, a biological fungicide for control of common fungal diseases, including Botrytis Gray Mold. BVT’s patent-pending technology has bees pick up Vectorite, a mixture containing CR-7, from a tray at the hive. Although the product is being expanded to honeybees, it was initially developed with bumblebees in mind.  + +**KEY ACHIEVEMENTS** \-  + +* 1st EPA registered product approved for natural delivery be Bees +* 35% Average improved yield vs. fungicide alone in strawberry crops +* 28% Higher yield on blueberries vs. pollination alone + +**APPLICATIONS** \- How BVT works ([Youtube Video](https://www.youtube.com/watch?v=K2UfwhnyWzU)). Works beautifully for crops including - Strawberry, Blueberry, in fact most of the berries, Apples, Tomatoes, Canola et al.  + +**MANAGEMENT** \- Solid management team headed by **Ashish Malik** who was previously the VP of Global Marketing for Biologics at Bayer CropScience. **Michael Collinson** served as the President and Chief Executive Officer (CEO) of BVT from 2012 to August 2016 and continues as the Chairman of the Board. He was previously an executive at Teknion in business development during an intense period of revenue growth from $40 million to $1 billion, and ultimately through to their becoming a public company. **Christoph Lehnen** is the technical lead for Europe previously worked for the Swiss Federation leading a wheat breeding program (spelt) before joining one of Syngenta’s legacy companies as a product manager. **Gerardo Suazo** is the technical lead for Americas previously worked as Product Technical Lead at Syngenta where he led regional launch activities with the two largest US and Canadian retailers and developed novel technologies for greenhouse growers. Ashish Malik seems like a solid guy with a clear thought process. I really enjoyed [watching his video here](https://www.youtube.com/watch?v=lmj0RKfbjPo) discussing their 2020 plan. His answers to some questions are pretty convincing too.  +MAIN WEBSITE - [http://www.beevt.com/](http://www.beevt.com/) +Product website - [https://www.vectoritebvt.com/](https://www.vectoritebvt.com/) +Dedicated section for investors - [http://www.beevt.com/investors/stocktradingresource](http://www.beevt.com/investors/stocktradingresource)  + +**Current stock price -**  +CSE: Ticker BEE.CN CAD 0.45  +OTC Markets: Ticker BEVVF USD 0.355 +Market Cap - 32.6 M + +**Why am I interested in this stock?** I have invested in illogical stocks just cos of their face value and made money out of it. For once, this is a sustainable company that is using BEEs to make the world a better place. I am in for the BEES. However, some additional pointers -  + +1. In 2018 alone, $17 Billion was invested in the AgriFood Tech domain.  +2. $240 BILLION is the total addressable market within crop protection & fertilisers.  +3. $20 Billion is the total market opportunity for BVT to readily leverage.  +4. 3 MILLION Bee Hives rented for pollination annually.  +5. 60+ Patents Granted; 30+ Patents pending  +6. For a 2.5 months of Strawberry season, BVT replaces 4 KGs of PESTICIDES with just 20 grams of Biological BVT. + +**Risks?** I am not sure if AgriFood Tech is as sexy a sector as EV or Weed currently so this stock might not get the right amount of attention it deserves. Plus with no catalysts around, the growth (or the lack thereof) could be a slow burn. PS - Do not get into this stock thinking that it’s going to multiply like crazy as I don’t see ANY catalysts but I genuinely believe in what they’re doing and want them to be successful for the sake of BEES. Do you own study and apply your own logic before investing.  + +Disclaimer - I am in with 3000 stocks on TSX at CAD 0.44 +In 1968 there was a massive global pandemic that killed 2 to 4 million. This is a higher death toll than Covid despite a smaller global population (obviously Covid isn't over yet and the figure of 1.2 million will sadly grow but even so it is likely the death toll will remain comparable to 1968, and when adjusted for population growth the deaths per 100,000 people will remain lower). + +Also in the US there was massive social unrest. Following the shooting of Martin Luther King, many US cities burned during the massive riots and unrest. Obviously this didn't happen in the rest of the planet, but there was not a recession in either the US or the rest of the world. + +This may remind you of 2020, in that there was a pandemic in the world and unrest in the US that resulted in cities being burned. You could argue that both were worse in 1968 than in 2020. + +Yet in 2020 there was a massive recession that left millions out of work both in the US and worldwide. In 1968 this didn't happen in fact the US economy grew by 4.8%, which is higher than any year in the 21st century. In 1969 the US reached it's lowest unemployment ever, whereas the opposite happened during 2020. + +Why wasn't 1968 a recession for the US or the world despite a global pandemic and American cities burning? And why was there one in 2020? +I am a middle school teacher, and we are wrapping up the year with a personal finance unit. I have heard a lot of people (by which I mean other people I work with) say that kids don't understand this topic. That is so false. + +I asked my kids a riddle. How do you take $5,000 and turn it into $500,000, without adding anything to it? I got some amusing answers (including "copy it and print more!"). But we eventually made our way to investing. After explaining about stocks, and then the S&P 500, I started to see some lightbulbs go off. My favorite comments of the day that cropped up in almost every class were, "is this legal...?" and "so wait, why doesn't everyone do this?" + +Some of my 8th graders are getting jobs this summer. A few of them made comments like "I was going to get a new \[pair of shoes, phone, tech device\], but maybe I can hold off for a little..." so the seeds have been planted. I know they're 13-14. I know they have like, no impulse control. I know that first paycheck will probably go towards funyons and a new pair of airpod. But at least this info is somewhere in their minds, and they have seen the impressive-looking graphs. +Welcome to the **/r/EthTrader** Daily Discussion thread. The thread guidelines are as follows: + +*** + +- Follow the Golden Rule. All other rules apply as well. Follow [this link](https://www.reddit.com/r/ethtrader/about/rules) to view the rest of them. The rules page is also linked in the announcement bar above. +- General discussion topics include, but are not limited to, events of the day, technical analysis, alternative Ethereum projects, or minor questions. +- Breaking news or other important content should be submitted as a separate post. +- In-depth altcoin discussions should be referred to the /r/CryptoCurrency discussion thread. To view the thread, [follow this link](https://www.reddit.com/r/CryptoCurrency/search?q=%5BMonthly+General+Discussion%5D&restrict_sr=on&sort=new&t=all) and choose the latest entry on the search page. +- Pumping, venting, trolling, or any other similar behavior should be redirected to the /r/CryptoMarkets trollbox thread. To view the thread, [follow this link](https://www.reddit.com/r/CryptoMarkets/search?q=Trollbox+Thread&sort=new&restrict_sr=on&t=all) and choose the latest entry on the search page. + +*** + +Thank you in advance for your participation. Enjoy! + +I have been investing in the market since high school. My first few years I was just day trading, in and out of this stock and that listening to what anything on the internet was saying. I invested in two companies that were completely broke and eventually went bankrupt losing entire investments. Then I started to listen to Warren buffet and the books he recommended and slowly got better but still loved to gamble in the “sure” things online. Anyways the last couple years I have been killing the market.. a little under 40% CAGR. I think I’ve finally have a decent investing philosophy. This last month it all paid off as the stock I have been investing in for years went up a little over 40% giving me a $19,000 gain in a month. This was a weird feeling because it was awesome but it really didn’t feel like I was 19,000 richer. Just kind of seems out of touch. Has anyone else experienced this feeling after having their first great payout? + + +P.S I’m stoned writing this. +Please help. +I’m recently left with two properties, each worth at least 700k USD. + +Am about to enter my fourth year of college, and to pay the tuition (≈60k) I’ll have to sell one of the two properties. My concern is what do I do with the the remaining? What do I do with my other property? I’ll prob need to get help from an agent or something, but I feel like a 23yo inexperienced student girl like me reaching out to big organizations for help is literally begging to be taken advantage of. + +How do I educate myself? Would be grateful for any advice. Thanks in advance. + +My situation for context: I’m an international student from a third world country currently studying in the United States. +Our kid is entering 2nd grade this year. He’s been attending this private school that costs 50k (and rising) a year. + +I had an epiphany 2 weeks ago. We went to his schoolmate’s birthday party. It was at this mansion with swimming pool. I sat down and looked around and it just hit me how homogeneous the kids are. I noticed that my son was not as at ease as compared to when he was with his soccer teammates (who came from different backgrounds). + +Frankly, I am an extrovert but I can’t blend with these ultra high net worth families also. The conversation doesn’t feel natural to me. I can’t be myself. + +Since that day, I started looking back. One of the thing I noticed also that my son is the most athletic by miles compared to his classmates. Not because he’s some kind of genetic wander, the kids are just not into sports. So often, my son has to look for 3rd or 4th graders to play during recess. I can’t help thinking that my son will just be a regular kid in our public school and the school probably has good sport program that he can be part of. When I told my spouse about this, my spouse confirmed my worries. He too thought that the kids are too spoiled, too rich like we are living in the bubble. + +Since then I started to look at things differently and convince that public school might be a better option for my kid. + +We already prepaid 1/3 of the tuition. Does it make a difference pulling kid at the beginning of 2nd grade or 3rd grade? Is it now a good time to switch so he can form friendships in the new public school? We also want to get to know our neighborhood kids so the sooner we switch, the better. +**What is this tool good for** + +I often use the theta gang wheel strategy by selling cash secured puts close to at-the-money and I like to see where I can get some bang for my buck. A quick scan of the list will tell me what IV is looking like for certain stocks and when earnings is coming up and whether or not I want to do a weekly theta YOLO for earnings. You can sort by IV, stock price, or Earnings and filter by ticker. + +Here's some of the top tickers from this weekend. Instead of making a full list of tickers ranked by IV, I'll share some of the more common tickers mentioned. + +# High IV Tickers List + +\*Some of the market cap data is off, so always double check before entering any plays! + +|Ticker|Market Cap|Stock Price|IV (%)| +|:-|:-|:-|:-| +|RIOT - Riot Blockchain...|4.82B|$71.84|264%| +|SNDL - Sundial Growers...|2.37B|$1.52|260%| +|MARA - Marathon Patent...|2.75B|$43.65|244%| +|CCIV - Churchill Capit...|10.9B|$54.79|233%| +|APHA - Aphria Inc|6.42B|$20.11|180%| +|GME - Gamestop Corpor...|2.84B|$40.47|173%| +|TLRY - Tilray Inc - Cl...|3.9B|$29.08|166%| +|NNDM - Nano Dimension ...|138M|$13.75|162%| +|FUBO - fuboTV Inc|2.91B|$42.92|157%| +|SOLO - Electrameccanic...|593M|$7.28|154%| +|AMC - AMC Entertainme...|1.63B|$5.67|148%| +|SRNE - Sorrento Therap...|3.46B|$13.17|148%| +|DGLY - Digital Ally In...|88.2M|$2.38|147%| +|HYLN - Hyliion Holding...|2.77B|$18.02|145%| +|FCEL - Fuelcell Energy...|6.53B|$20.17|143%| +|WKHS - Workhorse Group...|3.96B|$32.93|133%| +|ARCT - Arcturus Therap...|1.64B|$66.33|131%| +|MSTR - Microstrategy I...|8.93B|$964.59|130%| +|SPCE - Virgin Galactic...|12B|$50.96|125%| +|LAZR - Luminar Technol...|7.37B|$33.69|125%| +|BLNK - Blink Charging ...|1.65B|$46.16|124%| +|QS - QuantumScape Co...|12.9B|$62.73|123%| +|SBE - Switchback Ener...|1.14B|$36.25|123%| +|ACB - Aurora Cannabis...|2.41B|$12.20|118%| +|CODX - Co-Diagnostics ...|482M|$17.00|118%| +|CRON - Cronos Group In...|4.42B|$12.22|118%| +|PLTR - Palantir Techno...|42.7B|$28.86|117%| +|OSTK - Overstock.com I...|4.33B|$100.76|117%| +|RIG - Transocean Ltd|2.14B|$3.48|116%| +|NKLA - Nikola Corporat...|8.2B|$21.29|113%| +|JMIA - Jumia Technolog...|4.99B|$55.79|111%| +|APXT - Apex Technology...|509M|$14.22|108%| +|PSTH - Pershing Square...|5.97B|$29.85|102%| +|AI - C3.ai Inc - Cla...|0|$134.82|100%| +|SFIX - Stitch Fix Inc ...|5.01B|$79.20|100%| +|XPEV - XPeng Inc - ADR...|19.8B|$40.81|100%| +|GRWG - GrowGeneration ...|2.13B|$57.23|99%| +|CRSR - Corsair Gaming ...|3.58B|$38.61|98%| +|LMND - Lemonade Inc|8.41B|$148.31|97%| +|HOME - At Home Group I...|1.76B|$27.20|97%| +|PLUG - Plug Power Inc|26.2B|$55.55|96%| +|NIO - NIO Inc - ADR|85.8B|$54.70|95%| +|DASH - DoorDash Inc - ...|0|$208.26|93%| +|GSX - Gsx Techedu Inc...|15.1B|$103.37|93%| +|UPWK - Upwork Inc|6.84B|$55.48|91%| +|RKT - Rocket Companie...|2.34B|$20.30|89%| +|APPS - Digital Turbine...|7.59B|$84.52|89%| +|BB - BlackBerry Ltd|6.15B|$10.84|87%| +|PRPL - Purple Innovati...|2.45B|$40.03|86%| +|CCL - Carnival Corp. ...|27.1B|$24.64|86%| +|CGC - Canopy Growth C...|14.5B|$38.29|85%| +|HUYA - HUYA Inc - ADR|7.11B|$30.33|83%| +|LL - Lumber Liquidat...|817M|$28.25|81%| +|CRSP - CRISPR Therapeu...|11.2B|$149.03|81%| +|M - Macy\`s Inc|4.65B|$14.92|81%| +|NCLH - Norwegian Cruis...|5.77B|$26.90|80%| +|BYND - Beyond Meat Inc...|10.1B|$161.91|79%| +|W - Wayfair Inc - C...|21.3B|$294.56|79%| +|FVRR - Fiverr Internat...|10.3B|$318.12|78%| +|BBBY - Bed, Bath & Bey...|3.21B|$26.30|77%| +|CVNA - Carvana Co. - C...|14.4B|$309.03|76%| +|CNK - Cinemark Holdin...|2.58B|$21.66|76%| +|SAVE - Spirit Airlines...|3.47B|$35.66|75%| +|MRNA - Moderna Inc|69.1B|$174.89|74%| +|X - United States S...|4.7B|$17.93|74%| +|ENPH - Enphase Energy ...|24.5B|$188.77|74%| +|COTY - Coty Inc - Clas...|5.9B|$7.59|74%| +|DKNG - DraftKings Inc ...|23.8B|$60.67|73%| +|PENN - Penn National G...|18.7B|$120.38|72%| +|OXY - Occidental Petr...|23.7B|$25.63|72%| +|CLDR - Cloudera Inc|5.84B|$18.62|72%| +|ABNB - Airbnb Inc - Cl...|121B|$200.70|72%| +|BIDU - Baidu Inc - ADR...|118B|$341.03|72%| +|SNOW - Snowflake Inc -...|82.5B|$288.58|71%| +|ZM - Zoom Video Comm...|119B|$417.28|70%| +|ETSY - Etsy Inc|28.7B|$228.26|70%| +|FSLY - Fastly Inc - Cl...|8.26B|$80.38|69%| +|GPS - Gap, Inc.|9.04B|$24.11|69%| +|AAL - American Airlin...|11.9B|$18.64|69%| +|IQ - iQIYI Inc - ADR...|18B|$24.64|69%| +|FROG - JFrog Ltd|6.16B|$66.47|68%| +|BIG - Big Lots Inc|2.38B|$63.21|67%| +|CHWY - Chewy Inc - Cla...|45.4B|$114.00|67%| +|SHAK - Shake Shack Inc...|4.77B|$124.00|66%| +|DISH - Dish Network Co...|17.7B|$33.92|66%| +|SE - Sea Ltd - ADR|122B|$278.19|65%| +|CZR - Caesars Enterta...|14B|$83.05|63%| +|RCL - Royal Caribbean...|17.7B|$79.05|63%| +|SEDG - Solaredge Techn...|16.5B|$322.56|63%| +|PTON - Peloton Interac...|36.8B|$139.06|62%| +|LB - L Brands Inc|14B|$50.47|61%| +|ZS - Zscaler Inc|30.3B|$224.64|61%| +|FEYE - FireEye Inc|4.75B|$20.75|61%| +|SQ - Square Inc - Cl...|118B|$276.73|61%| +|NET - Cloudflare Inc ...|25.3B|$81.92|61%| +|CRWD - Crowdstrike Hol...|45B|$239.02|61%| +|CREE - Cree, Inc.|13.9B|$125.17|61%| +|UAL - United Airlines...|14B|$48.23|60%| +|U - Unity Software ...|32.9B|$120.70|59%| +|TDOC - Teladoc Health ...|42.4B|$293.49|59%| +|PBR - Petroleo Brasil...|21.1B|$10.12|58%| +|SMAR - Smartsheet Inc ...|10.1B|$82.44|58%| +|DBX - Dropbox Inc - C...|7.41B|$23.65|58%| +|TSLA - Tesla Inc|750B|$778.67|58%| +|PINS - Pinterest Inc -...|53.1B|$86.10|57%| +|ROKU - Roku Inc - Clas...|59.3B|$464.49|57%| +|DOCU - DocuSign Inc|49.4B|$265.07|57%| +|SNAP - Snap Inc - Clas...|97.6B|$65.36|56%| +|TAN - Invesco Capital...|4.62B|$110.64|56%| +|NOK - Nokia Corp - AD...|2.67B|$4.07|56%| +|ESTC - Elastic N.V|14.2B|$161.92|56%| +|TWTR - Twitter Inc|57.7B|$72.37|55%| +|LYFT - Lyft Inc Cls A|18.2B|$58.71|54%| +|Z - Zillow Group In...|42.9B|$181.48|53%| +|SPOT - Spotify Technol...|66B|$361.80|53%| +|MGM - MGM Resorts Int...|18B|$36.48|53%| +|EAT - Brinker Interna...|3.25B|$72.39|53%| +|HAL - Halliburton Co....|18B|$20.27|53%| +|DDOG - Datadog Inc - C...|21.8B|$104.41|52%| +|YETI - YETI Holdings I...|6.53B|$74.91|52%| +|MELI - MercadoLibre In...|95.4B|$1905.00|52%| +|TEVA - Teva- Pharmaceu...|12.1B|$11.04|52%| +|WYNN - Wynn Resorts Lt...|13.3B|$123.61|51%| +|TTD - Trade Desk Inc ...|37.9B|$902.01|51%| +|TWLO - Twilio Inc Clas...|59.7B|$426.39|51%| +|OKTA - Okta Inc - Clas...|35B|$286.06|51%| +|RH - RH - Class A|10.3B|$503.93|51%| +|UBER - Uber Technologi...|103B|$58.27|50%| +Whilst all other crypto went up in value... Those were some frustrating times but I always believed in ethereum and I'm glad I stuck with it and didn't move to bitcoin and litecoin because in all honesty I don't at all believe in those technologies. Ethereum for me is the future. I can see it's potential use cases in the real world and I am excited as fuck right now to see the price at over $1000 +I'M PAYING OFF MY MORTGAGE TODAY! + +I sold a nice chunk of my ICO ETH yesterday at $330 and now that the transfer is complete I'm sending it on to the mortgage company! + +I know that ETH has a long way to grow still. I know that the measly ROI I'll get by not having my mortgage doesn't make mathematical sense. I know that I could probably do better than my interest rate investing in plain old mutual funds. I know that I still have to pay insurance and property tax. I know that I will no longer have the interest deduction on my taxes. I know that ETH will probably shoot to the moon just as soon as the ACH to the mortgage company clears. + +**BUT** what I can't put a price on is the feeling of walking barefoot through my yard and knowing that every blade of grass, every ant hill and mole mound, every dead mouse in the walls, every shingle on the roof, and every single splinter of wood on the property are mine. + +It was very hard to let go of my precious ETH but you know what? The security and stability that this brings to my life is worth every penny of my $159 cost basis. Tonight when I get home from work I will turn my key in the lock of a 100% paid-off property. I think that it's fitting that I was able to do this during the "Homestead" release. + +----- + +**EDIT**: + +Wow, this blew up. More updoots than the daily?! I'm totally blown away by the reaction to this post. Thank you all for your kindness and encouragement - I honestly didn't expect it in quite the quantity that you're sending my way. My parents raised me well and I'm trying hard to respond to each of you and thank you for your kindness but I might miss some. If I do, I apologize. + +Some common questions have come up: + +**"How'd you get USD out?"** I used about a dozen transactions staggered over several days from my Ledger Nano S -> GDAX / Gemini -> Bank Account -> Mortgage company. It was all done via ACH and wires. + +**"Taxes?"** I kept track of each sale to USD, calculated my cost basis, and reserved back an additional ~20% on top of my payoff amount. I pay quarterly federal taxes and will send them a giant whack of cash (on a credit card so I get the Chase points!) in September. It's best to pay the capital gains in the same quarter in which you realized them. + +**"So that's it? You're out?"** No. I still have some ETH left that I'm hodling at least until POS. I believe in the technology. + +**"Lambo?"** No. Our neighborhood has speed bumps... Maybe an Aston when we moon. ;) + +**"Property taxes etc."** Yep. Cost of living in the USA... I like my roads, fire trucks, clean water, city parks, trash service, recycling service, and walking trails. :) +If this isn't the right sub I apologize, I'm just not sure where else poor or formerly poor people congregate on reddit (if you have suggestions please share them!) + +I grew up ridiculously poor in the US. Not like "I didn't have enough but everything I needed" poor but like I never had anything. Chronic homelessness, lack of medical care, food insecure, etc with parents who have substantial substance use disorder so also always in dangerous and sketchy situations. What little we had went to my parent's addictions, not living. + +I talked my way into a very good graduate school and emptied my bank account to move. Spent more time than I care to admit living in my car in the school parking lot and working 3 jobs to get through. I discovered a kind of applied research that I'm good at and enjoy. It has a lot of real world applications and people in my field work in policy, academia, government, even museums. I got my training through an internship at a charitable foundation with a 10 million dollar a year gifting fund (total culture shock working there. My car wasn't nice enough to park in front of the building because they didn't want clients and other donors to see it.) + +Part of why I was drawn to this industry is because I've always wanted to do something that helped other people living in poverty. Seeing all the places this work is put to use I knew it was the thing. I got training in using this research method for diversity, equity, and inclusion work but no where in the guidelines does it address class. Since I started in this field in 2017 I've wanted to start a conversation on how we think about, or don't, poor people. I've been shut down a lot. + +Now I'm an academic researcher and need to do work that makes a name for myself to get promoted and get my contract renewed. I'm wondering back to this idea. I've always been interested in poverty studies and specifically the idea that there is poor as in no money and then there are behavior traits many people raised in poverty share and even when circumstances change those behaviors or thoughts don't. + +I know for me I still struggle with things left over from being poor. All through college when I expressed feeling like I didn't belong there I would get handed articles on imposter syndrome which, no. I knew I belonged intellectually. I didn't feel like people like me belonged at places like that with people like them. Similarly, around 15 years ago my dad became independently wealthy through luck. He isn't a millionaire but he has no idea how much food or gas costs because he doesn't look. He doesn't have to think about money and yet still lives like a broke deadbeat. Doesn't own a house or a car that doesn't breakdown. Has a shit credit score. Still goes broke and just waits for the next check to hit the mailbox. His rental house is a dirty dump. That is the kind of stuff I want to talk and research about. How being poor effects you even if you now have money or are stable. I still live everyday like I'll lose everything. + +Back in the 60s some researchers tried to look at these behaviors and beliefs and how they are intergenerational. That work has now turned into some of the most hated and detested academic theories maybe ever. I've heard my whole career it's wrong to even entertain them because they are racist and blame the poor for being poor. It's dangerous and disgusting to think that way. Recently I finally decided to go back and read the actual original work and I found it none of those things. It's actually anti racist because it says this isn't a black issue or a Hispanic issue, it's a class issue. The things the original research described were so true to my experience, my family, my husband's family, and everyone else I know on the bottom rung of society. + +So I find myself frustrated that a bunch of scientists who have never been poor decided this is wrong. And a bunch of teachers my whole life have told me my lived experience is wrong. And I'm frustrated I can't research this without being called a racist who hates poor people when all I want is to do is get other upper class scientists who sit around and inform policy and give away millions of dollars to know that its not always just a lack of money, that being poor gets into your soul. Yes, pay people more and get people out of the fucking hole of poverty, but don't then expect them to all of a sudden act middle class and be fine. + +If you read this far thanks for listening haha! +We’ve seen a lot of charity coins but this might be the best, with $90k donated in the last few weeks and a new donation every Friday, $HAPPY is proving its worth every day. + +Not only this but it’s been listed on WhiteBit last week, a big Centralized Exchange which is attracting a lot of newcomers and people interested in coins with tax distribution. + +You can profit by holding happy, as they reward holders with a 5% transaction tax which puts HAPPY directly into your wallet every time someone buys or sells. This basically means that every transaction someone makes benefits all holders, and everyone gets a share of his buy or sell. + +Now for some MAJOR NEWS. + +The founder of $HAPPY coin is heading out to Los Angeles THIS WEEK to market happy to some HUGE influencers. Currently he is talking to Jesse Wellens (10Mil Subs on YT… good friends with CASEY NEISTAT) on how they can promote $HAPPY, and with much more in the works that is hush hush for now. + +Website: http://thehappycoin.co + +Chart: https://charts.bogged.finance/?token=0xB0B924C4a31b7d4581a7F78F57ceE1E65736Be1D + +PancakeSwap: https://v1exchange.pancakeswap.finance/#/swap?outputCurrency=0xB0B924C4a31b7d4581a7F78F57ceE1E65736Be1D + +Twitter: http://twitter.com/the_happy_coin + +Telegram: http://t.me/happy_coinTG + +Twitch: https://www.twitch.tv/watchhappycoin + + +Someone told me that prices actually stay the same or barely increase when the minimum wage is increased. A few of his arguments were; " Inflation is far outpacing income growth for the poor and middle classes already. " , + +"Anyone with an ounce of common sense could figure out that costs of goods aren’t directly correlated to wages because most industries aren’t labor-intensive and labor-intensive industries already tend to pay above minimum wage. In reality, prices only grow around 0.36% for every 10% in wage increases, which is pretty negligible when you consider how many people would be put above the poverty line. " + +"raising wages will have a very insignificant effect on the cost of manufacturing items, so it doesn’t hurt profits to the point that raising prices by a noticeable amount isn’t necessary to maintain the same amount of profits. " + +" People won’t buy something ridiculously priced under a free market economy unless there’s a monopoly and most sectors in a healthy economy don’t have a strong enough monopoly within them that it could raise the prices as fast as income grows. At a certain point, it makes more sense to keep business going and simply sell more goods than to raise prices in a directly proportional manner which will put said company out of business. People won’t put up with sudden price increases unless forced to by lack of healthy competition. " + +source: [https://research.upjohn.org/cgi/viewcontent.cgi?article=1278&context=up\_workingpapers](https://research.upjohn.org/cgi/viewcontent.cgi?article=1278&context=up_workingpapers) +Tl/dr: My grandpa still works. I’m going to FatFire. How do conversations like this go? + +My grandpa is amazing: married for 65+ years, served in the army, supported a large family, multitudes of grandkids and great-grandkids, jobs in public service, pillar of the community, etc, etc. + +He is almost 90 and still draws a part-time consulting salary. I’m not sure if he will ever stop working. Although he never earned a lot of money and was never a good saver, he could retire if he wanted. + +I had an interesting interaction with him at a family dinner recently that requires a little background information: + +I’m mid-30’s with multiple Ivy League degrees. I started with a low six-figure job out of grad school. I put in \~5 years on the low end of the corporate ladder building my resume before landing the desirable big-kid job a couple of years ago. It pays between 450k and 900k cash plus options depending on a few factors. + +I’m married to an MD (early 30’s) in the final years of residency. We are currently lopsided DINKs. My partner will be in a specialty that makes \~250k. + +Our net worth is now 1.7M, so we are probably beyond the HENRY stage. We are financially like-minded and live well below our means. We saved about 40-50% of our take home pay even before I got my new job. Last year was a big salary year and we saved 85%, which supercharged our net worth. Don’t worry, we aren’t in the delayed gratification camp. We spend a decent amount on food, drink, entertainment, and big international trips. We currently live on 85k per year in MCOL area, which I guess isn’t that much, but for two people who work a lot, we live pretty fun lives and never worry about our spending. + +Back to my grandpa… + +We are planning on moving after residency to be closer to home. My grandpa asks me what I am going to do for work. I jokingly said, “Nothing, I am married to a doctor.” Most of the table laughs because they know my job will follow me to our new state, and the conversation moves on. However, my grandpa didn’t know that. 30 minutes later he returned the conversation to me asking if I was really not going to work and that it was important to have an occupation. He seemed very concerned that I was going to live off my partner. Not all of his offspring have been self-sufficient. I told him that I will be keeping my current job, and he was relieved. + +What I didn’t tell him is that I am well on my way to FatFire, and if I am working at age 45, something probably went wrong. My job is not my identity. I work to make money to live my excellent life outside of work (sports, travel, experiences, etc). I may retire when we have 5-7M in savings. My partner will likely still work as that is what my partner loves (at least right now). + +How awkward will it be if I retire and my grandpa is still working? Perhaps he won’t be around to see it, but I will definitely be retiring before my parents. My grandparents and parents don’t need me to support them, but they aren’t wealthy. Yet, I recognize that I am only in my current position due to their hard work, the lessons they taught me, and financial support (e.g.; paid for 50% of undergrad). I am grateful and fortunate. + +How would you tell your family? They know I make a lot of money and am accumulating wealth. I wouldn’t be able to hide the fact that I stopped working. Does anyone have experience with this type of situation? + +Edit: Thanks everyone for the feedback. There were some clever approaches to talking to family about this that didn't involve lying or being vague. Vague with reddit strangers is easy. Vague with family members who care about you and see you a lot doesn't seem sustainable. It's amazing to me how many people think just telling family you are a consultant will work. +This is like an OT, but interesting to know in my opinion. + +&#x200B; + + In the Italian pension system, pensions are paid thanks to those who work today and pay contributions. Whoever pays contributions today gets the future right to get a pension in turn. But if there aren't enough workers in the future, there won't be enough money to pay off these 'debts'. This creates a financial imbalance. + + At present, the incomes are lower than the outgoings and a hole is created that must be filled by the state. Thus we speak of a **social security deficit**. + + The only way to repair the deficit would be to raise the retirement age (already very high on average), raise taxes and (sadly) hope that retired people live shortly. + +&#x200B; + +Why this is a Ponzi scheme? + +* absence of product and promise of earnings (INPS promises us the pension but does not guarantee it) +* new ones paying old +* only one promoter or company +* unclear information + +&#x200B; + + Certainly at the moment the INPS for structure, for functioning cannot last over time. The working age population continues to decline and soon there will be not enough people to pay pensions. Even more so that the growing aging of the population, combined with the low birth rate, makes the entire Ponzi-Inps system unsustainable. + + To date, the only possible solution appears to be the need to completely restructure the entire pension system. +Dear Dr. Trimbath (aka Queen Kong), + +The $GME Reddit communities love you and truly appreciate all the hard work and dedication you have put in to fight for financial industry reform. You have been doing this for so many years, literally longer than some of us have been alive, and you should know how much of an impact you have made in our progression as a community. Thank you! See you on the moon! 🚀 🌙 +That has to be the biggest and quickest rugpull in history right? + +We all knew squid game was a scam as well as a rugpull and even more fucked that people couldn’t take profits at all at any point and whatever the deal with winning games to get the tokens for gas fees was. The whole thing was fucked. + +But still please anyone correct me if I’m wrong but I don’t think anything else I’ve ever seen has dropped that much if it’s percentage in such a short time? + +I’m sorry for any of you who’ve bought that token hoping to make a quick buck. I hope it was a relatively cheap and valuable lesson about crypto and these random tokens that pop up out of no where. + +Edit: looked at the charts a little closer and it actually happened in 5 minutes. +Anyone else tired of this cookie cutter advice from the wealthy to the wealthy? It's like a revelation to them. Like, "wow, what a brilliant idea. What a way to hack the system! I'll get a roommate and I'll have so much more disposable income!" Or better yet, "Buy a duplex and rent out the other unit so you can live rent free!" + +I'm living in an office with no closet in a house with three other roommates and two dogs and two cats. I'm 30 minutes out of town and 45 minutes from work, but this is the rent I can afford. +Jumped on the $GME bandwagon on Friday, 4 @ \~316. My 36 hours of day trading has already taught me that no matter how this plays out, I will never YOLO on a bubble ever again. + +The principle seemed straightforward: hedge funds got lazy/greedy, over-shorted their positions, bet against a company that wasn't actually going under, and some astute monkies on reddit caught them and triggered a short squeeze. Even as someone who knows almost nothing about the stock market, the basic premise makes sense. But the devil's in the details, and hype is blinding. + +First red flag was when I realized [/u/DeepFuckingValue](https://www.reddit.com/u/DeepFuckingValue/) did not bet on the short squeeze, he bet on undervalued stock price *over a year ago*. He has also trimmed his position such that no matter what happens in the squeeze, he walks away with 8 figures. So the people screaming "if he's still in, I'm still in!" and "look at those brass balls, if he can lose $5MM in a day then I can hold" are really living up to the dumb ape meme. He didn't lose $5MM yesterday, he lost $5MM in \*unrealized gains\*, there is a \*huge\* difference. + +Second red flag was a common sense idea that hedge funds won't go down without a fight, and they have literally billions of dollars and decades of experience. You don't get that without learning how to game the system in complex, subtle ways. So even if they are still heavily shorted (which they might not even be anymore), and even if somehow [r/WSB](https://www.reddit.com/r/WSB/) is holding some kind of meaningful leverage over them, that doesn't rule out the very real possibility they have a dozen ways out of this that people like me have no idea about. + +But even in the off chance that somehow this turns around, and $GME does go "to the moon," that doesn't change the fact that it's bad long-term strategy to bet on bubbles and jump on bandwagons. They almost certainly fail, and if they don't, they only serve to inflate egos that will fall even harder on the next gamble. I'm still holding my shares but I don't expect to see my \~$1200 ever again. In the off chance I break even or see a profit here, I will count it as dumb luck and use it as seed money to learn how to invest in real long term gains. + +**Edit:** holy shit RIP my inbox. No way I can read all that. + +Want to clarify a few things. Not financial advice. + +**My position:** I knew I was late to the party. I *wanted* to gamble. I knew what I was doing, and (mostly) why I did it. Hindsight showed me it was more based on emotion than I wanted to admit, but still, I'm not surprised by the outcome so far, and I'm totally OK with taking the L and calling it a lesson learned. I don't blame DFV, WSB, or anyone for my choices. I own them, even proudly, because I wanted to step out and take a calculated risk vs. sit on the sidelines out of fear of loss. I'm holding because I already bought my tickets to this ride, want to see this thing play out, and I'm fine with gambling the final $300 on the outside chance things turn around. + +**Your positions:** brothers, sisters, nonbinary siblings: **you are not your portfolio**. whether up or down, your value is not based on how big or small an imaginary number is. you are a human being on the bleeding edge of 3.5 BILLION years of evolution, you have more actual success in your past and potential success in your future than you'll ever know. 12 years ago I was a penniless alcoholic literally stealing change from my grandpa to get loaded on 211 Steel Reserve. I hit my bottom, joined AA, and now I'm a network engineer, wife, kids, the whole lot. Anything is possible if you don't give up on yourself. But I know it's not that easy, we all need borrowed self-esteem before we can see the real value inside. So if this $GME gamble hit you hard, please reach out to someone. don't give up. Hell, this bubble isn't even over, it might even turn around! But either way, don't give up. + +**Edit2:** + +wow, never expected this to go this far. wrote it on my way out the door as a way to cope with the situation. read a ton of replies, probably missed most of them. thanks for all the love and hate and everything inbetween! A few more points: + +* Agreed that RH deserves to be held accountable. No question they manipulated this. +* Agreed it's not over yet. the squeeze could happen. but if it does, **my** main personal takeaway from this experience will stand: I won't speculate on bubbles anymore. This is my position if I lose everything or make $100k. +* if you posted gains, that's awesome! so glad for you, I wish you the best! + +**Edit3 2/3/21:** + +Full disclosure, I closed my position this morning at a \~$900 realized loss. + +My gut says the squeeze happened, short interest isn't what I thought it was on Friday, and the stock will return to actual value soon. + +**Edit4 2/25/21:** + +**I stand by my decisions, both to buy and to sell. I don't speculate on bubbles. Period. But you can do whatever the fuck you want with your money and you'll never find me shaming you about it.** +The CEO of blue prism sums it up nicely, high tech and innovative firms are better off listing in USA . The UK only understands old businesses: mining ,old banks , construction and old retails and utilities. + +"In a report in The Times on Monday, Blue Prism Chief Executive Jason Kingdon said that the company was looking at listing in the U.S. because Americans value subscription software companies more highly than British investors, who, he said, don’t have the same knowledge of the sector. + +Kingdon also said the London market was “too illiquid and too small.” + + +https://www-marketwatch-com.cdn.ampproject.org/v/s/www.marketwatch.com/amp/story/high-tech-british-firms-eye-u-s-listings-in-blow-to-post-brexit-london-stock-market-11610991528?amp_js_v=a6&amp_gsa=1&usqp=mq331AQFKAGwASA%3D#aoh=16110180195261&csi=0&referrer=https%3A%2F%2Fwww.google.com&amp_tf=From%20%251%24s&ampshare=https%3A%2F%2Fwww.marketwatch.com%2Fstory%2Fhigh-tech-british-firms-eye-u-s-listings-in-blow-to-post-brexit-london-stock-market-11610991528 +Welcome to the Daily Discussion [Serious] 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. +- General discussion topics include, but are not limited to, events of the day, technical analysis, alternative Ethereum projects, or support issues. +- Breaking news or other important content should be submitted as a separate post. +- In-depth altcoin discussions should be referred to the /r/CryptoCurrency discussion thread. To view the thread, [follow this link](https://np.reddit.com/r/CryptoCurrency/search?q=%5BMonthly+General+Discussion%5D&restrict_sr=on&sort=new&t=all) and choose the latest entry on the search page. +- Pumping, memes, lambos, etc. will **not** be tolerated under any circumstances. Low-effort content **should be reported** and redirected to the Daily Moontalk thread. To visit this thread, [follow this link](https://www.reddit.com/r/ethtrader/search?q=Daily+Discussion+%5BMoontalk%5D&restrict_sr=on&sort=new&t=all) and choose the latest entry on the search 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. + +* **This thread will no longer be stickied so please remember to upvote it for visibility.** + +*** + +Thank you in advance for your participation. Enjoy! + +I just want to say thanks to all the apes that check in on reddit to read read the DD, watch the memes and upvote good posts. + +You guys are the reason everything isn't crumbling. + +You can already see that the people who are too engaged are getting consumed by the whole situation and drama ensues. + +The silent apes are just as important in my eyes as the clever apes doing DD, because the silent apes are the ones reading and acting upon it without creating drama and tension. + + +So if you are a lurking ape then, **THANK YOU** . + + +Apes together strong! + + +**EDIT + +I just want to clarify that I of course am also grateful of the clever apes posting the amazing DD, It is some next level investigating that has and still is taking place. + + +**EDIT 2 + +I see some people are taking offense from this post and I just want to again clarify that I am not trying to say that people who are engaged in the community are less worth than the lurkers. + +I was just trying to say thank you to some of the people who aren't normally seen or heard from. +By now most of you have probably seen the recent posts about Glacier Capital. What started off as a mildly amusing news story is now being treated as SHFs possibly trying to hide short positions using Glacier as a facade. I was just scrolling through Hot and came across [the Glacier post](https://www.reddit.com/r/Superstonk/comments/nezcn1/glacier_capital_does_not_exist/) again, except this time I noticed it has an absurd number of awards, especially compared to it's upvote count. + +[It has 3,400 awards and counting](https://preview.redd.it/mu2w19wwquz61.png?width=806&format=png&auto=webp&s=cc544bf4a15fbccf9ce821f0282661fff100a15f) + +Now, obviously I didn't know how many awards posts with a lot of upvotes tend to get, but this number seemed a tad suspicious, so I had a look at Top Posts of All Time. What I found is, with the exception of House of Cards (3400), Warden's DD last week (1270) and Rensole's apology post (1130) (there may be other posts but you get the gist), the top posts on this sub get a few hundred awards at most. Something else to bear in mind is, this was only posted 7 hours ago and is already on par with the most awarded post on this sub, yet with fewer upvotes. Then i clicked on the award breakdown and it became a lot clearer. Unlike the other top posts which have a smorgasbord of different awards, this post has nearly 3,000 All-seeing upvote awards and 400 other awards. Compare this to HoC which only has 245 All-seeing upvotes. + +Make of this what you will but someone REALLY wants this post to be seen. I'm not going to speculate whether this is Kenny and his Mayo gang or DFV or whatever, but someone wants this post to be seen. There's 2 obvious reasons, this post is really onto something and is worth investigating even more, or it's a false narrative they're attempting to sow to distract us. [Here](https://www.reddit.com/r/Superstonk/comments/nf2q78/glacier_capital_exists_and_its_much_spicer_than/) is another post, worth having a look at that explores this second possibility in detail. Again, draw your own conclusions, I'm not picking sides, just highlighting something that seems a little fishy. + +[Also notice the 'normal' number of awards](https://preview.redd.it/j7ankby1uuz61.png?width=807&format=png&auto=webp&s=308be232244fe6c2fe1ec33f58c8142bbba9ac4a) + +&#x200B; + +&#x200B; + +Edit: Just to clarify the reason I made this post because I feel like some people are missing the point. This isn't a groundbreaking discovery, I just wanted to highlight the likelihood that the Glacier post was given A LOT of artificial exposure as a distraction and to clog up the sub. Well they seem to have managed that somewhat but apes figured it out pretty quickly. We all need to move on now and forget about Glacier, it's all noise. Buy. Hodl. Vote. +I am a middle school teacher, and we are wrapping up the year with a personal finance unit. I have heard a lot of people (by which I mean other people I work with) say that kids don't understand this topic. That is so false. + +I asked my kids a riddle. How do you take $5,000 and turn it into $500,000, without adding anything to it? I got some amusing answers (including "copy it and print more!"). But we eventually made our way to investing. After explaining about stocks, and then the S&P 500, I started to see some lightbulbs go off. My favorite comments of the day that cropped up in almost every class were, "is this legal...?" and "so wait, why doesn't everyone do this?" + +Some of my 8th graders are getting jobs this summer. A few of them made comments like "I was going to get a new \[pair of shoes, phone, tech device\], but maybe I can hold off for a little..." so the seeds have been planted. I know they're 13-14. I know they have like, no impulse control. I know that first paycheck will probably go towards funyons and a new pair of airpod. But at least this info is somewhere in their minds, and they have seen the impressive-looking graphs. +I am (65M) Fat but not fire (throwaway account), because I don't mind my work and I am worried I may be bored. Let's not discuss about that. + +I have 2 children who I can described as anti-work and I would like to know what other parents would do. + +My eldest was accepted into the university but he chicken out. He does not intend to work and his life goal is to find a spouse who will feed him. He plays computer game everyday and hang out with his friends. + +My second completed her degree more than a year ago. She made token gestures of applying for work but can't find anything she likes. She has a boyfriend who is in finance and they will probably get married. She also indicated that she does not intend to work once she is married. + +I grew up poor and work hard to be where I am now. We live fairly simple life, except for our primary residence. I believe in real estate investing, and I was fortunate to buy a large house more than 25 years ago that has tripled in value. It is worth about 15 million (rough guestimate, in USD term). In my children's eyes, we are rich because most of their friends probably stay in residences worth a lot less than that. We also have other investments that they don't know about. + +With the inheritance that they may get, my children can Fatfire without working a single day of their life. + +My problem is this anti-work attitude bothers me. We argue frequently and it is affecting our relationships. + +What would you do. + +Edit: + +Many thanks to everyone who has replied. Will read them slowly. Maybe one day will update what action I took and how it works out. + +&#x200B; +millertime1216 has been, for several months, an active advocate for spreading info about DRS. He is one of the founders of DRSGME.org, but is perhaps best known for diligently commenting on almost every purple circle post that comes across this subreddit. + +Yesterday, he was permanently banned due to violating the no spam rule on r/Superstonk. + +[Link to relevant comment and messages.](https://imgur.com/a/SYS9Yi0) + +This post is not to argue for millertime's reinstatement, or to argue that the consistent comments on nearly every purple circle DRS post doesn’t constitute as spam. This post is for transparency, so that the SuperStonk userbase knows what happened and knows that recurrent support for DRS posts in this way may be viewed as spam by the moderation team. + +The passion for investor rights and direct registration displayed by millertime1216 was once uncommon, but now it's the default perspective for so many users who spend time here discussing our favorite company. + +Personally, I hope to see comments congratulating users on their purple circles continue despite this ban. + +I'll end with a quote from miller: + +"Can't Stop, Won’t Stop until the float's locked. Changing the world is what's at stake!" + +🍻Cheers!🍻 + +🟣👊DRS GME BOOK👊🟣 + +Edit: I have been receiving messages and seen some comments that lead me to believe some apes think I’m a MOD disclosing for transparency. I’m NOT a MOD, just a smooth brained ape bringing attention to what happened. Ook ook my simian friends. +**~~EDIT May 12, 2021~~**~~:~~ [~~SR-OCC-2021-004 Is Scheduled to Finalize This Week~~](https://www.reddit.com/r/GME/comments/napco9/srocc2021004_finalizes_this_week_is_this_the/) ~~^(Also, I have been banned from Superstonk...)~~ + +**EDIT May 18, 2021**: I have been unbanned; thanks for all the folks who reached out and thanks to the mods! + +We've made it through an exciting weekend of suspense only to end up with yet another day of sideways trading. I'd like to examine why I think we have not yet launched based on the bits and pieces that we know. + +In this post, I'll be rehashing some of my earlier posts for folks who haven't read them and also examining my earlier thoughts in the context of the information we've come across over the last two weeks. + +One of my favorite topics in science is black holes. [Black holes had been theorized to exist soon after Einstein's theory of General Relativity](https://en.wikipedia.org/wiki/Black_hole#General_relativity). [Until 2019, the existence of black holes was known, but never actually seen](https://www.nasa.gov/mission_pages/chandra/news/black-hole-image-makes-history). So how did we know where to look? Even though we can't actually see the black hole and even though it may be millions of light years away, we can observe how bodies of mass interact with it, how it affects the space around it, the energy that is dissipated from the black hole, and other signatures of its existence. + +The GME MOASS is like a black hole in more ways than one. We can only speculate on what is happening based on how the different entities in this system are interacting. Let's revisit my earlier post with some new data points. + +# Who Are the Entities Circling this Black Hole? + +On APR13, u/jamiegirl21 posted [this S-4 filing](https://www.sec.gov/Archives/edgar/data/0001834518/000119312521109685/d121216ds4.htm) for [a merger with Apex Clearing](https://www.reddit.com/r/Superstonk/comments/mq4gfi/sec_filing_merger_with_brokarage_detailing/). + +Check out page 84: + +[\\"Apex, along with over 30 other brokerages...including...Citadel and DTCC engaged in a coordinated conspiracy...\\"](https://preview.redd.it/g3p76sl7n6u61.png?width=906&format=png&auto=webp&s=61d82b61305ceeb4bf9e4568b447c0887782e787) + +While this is *alleged* at the moment, what is clear is that some law firm(s) believes that there is a case against multiple entities -- including the DTCC -- for conspiring to shut down the JAN28 squeeze. + +Set aside the idea that Citadel or the GME shorts alone can suppress the price of GME; if that were the case, we would not have even had the JAN and FEB spikes in the first place since Citadel and the shorts alone could have stopped it. + +As I have mentioned in my previous posts, rather than thinking of the situation as "*Citadel is shorting the market*" or "*It's a battle between Short HF and Long Whales!*" to "*DTC, OCC, SEC,* ***and*** *the shorts are preparing for the squeeze*". + +Literally every major entity in global banking is entangled in this through the DTCC. Even the non-DTCC members are entangled as they use DTCC members for clearing their trades. + +* DTC: [https://www.dtcc.com/-/media/Files/Downloads/client-center/DTC/alpha.pdf](https://www.dtcc.com/-/media/Files/Downloads/client-center/DTC/alpha.pdf) +* OCC: [https://www.theocc.com/Company-Information/Member-Directory](https://www.theocc.com/Company-Information/Member-Directory) + +Just a cross section: + +|*Member*|*DTC*|*OCC*| +|:-|:-|:-| +|Apex Clearing|✔|✔| +|Barclays|✔|✔| +|Bank of America|✔|✔| +|Charles Schwab|✔|✔| +|Citadel Clearing|✔|✔| +|Citadel Securities|✔|✔| +|Credit Suisse Securities|✔|✔| +|Deutsche Bank|✔|✔| +|Goldman Sachs|✔|✔| +|Interactive Brokers|✔|✔| +|JP Morgan|✔|✔| +|Merrill Lynch|✔|✔| +|Robinhood Securities|✔|✔| +|TD Ameritrade|✔|✔| +|UBS Securities|✔|✔| +|Vanguard|✔|✔| + +# How Are They Preparing? + +The fallout from this squeeze is that there are multiple DTCC members who are going to fail and default (we'll see some possible evidence of this in a moment). When this happens, the DTCC or corresponding subsidiary (hereafter just referred to as DTCC) will step in to manage the default through Recovery and Wind Down Procedures which are documented in their member agreements. + +During the squeeze, the DTCC will intervene and provide immediate liquidity when a member defaults. In turn, DTCC will use the assets of the defaulting members as collateral for that liquidity (which itself may originate outside of DTCC). Those assets from the defaulting member will then be auctioned off to recover those loans. + +[SR-OCC-2021-004 page 4: \\"OCC is proposing...to clarify and further facilitate the process of on-boarding Clearing Members and non-Clearing Members as potential bidders in future auctions of a suspended Clearing Member's remaining portfolio\\"](https://preview.redd.it/6lr1elrbn6u61.png?width=532&format=png&auto=webp&s=4c44a3b19bee31d50d2ea5e97963da4d377f2272) + +[SR-DTC-2021-004 page 11: \\"...to address losses arising out of the default of a DTC Participant...\[t\]he proposed rule change would add a sentence...DTC may, in extreme circumstances, borrow net credits from Participants secured by collateral of the defaulting Participant\\"](https://preview.redd.it/jwcjavojn6u61.png?width=651&format=png&auto=webp&s=5e6b2d668b9106566a5442677b6d7c8338ab48dc) + +If you are interested in diving deeper into this, [check out my earlier post on the topic](https://www.reddit.com/r/Superstonk/comments/mnpzu5/srocc2021004_why_this_proposed_rule_change_is/). + +But let's talk about **why** this is interesting. + +There are generally three views on what is about to happen: + +1. The entire system and the banks are going to go belly up because of the scenario described in the [Everything Short DD](https://www.reddit.com/r/GME/comments/mgucv2/the_everything_short/) so these additional billions are to buffer them from collapse +2. The banks are reacting to increased liquidity requirements stemming from last year and the expiration of SLR +3. A few entities are probably going to collapse due to overexposed positions and other entities are moving into position to profit from that collapse + +My sense is that #1 is a bit too extreme. Having gone through 2001 and 2008, I have learned one lesson: the rich will not allow themselves and this system that props them up to fail because they are dependent on this system to support their bottom lines and lifestyles. **What alternative do they have?** The Yuan? The Euro? The GBP? The Yen? The Ruble? Crypto? What are you going to do with that Doge or Bitcoin if you can't convert it to an actual currency? How are you going to buy your lattes from Starbucks with Doge? There is no alternative. + +That said, we are at a nexus of multiple blows potentially impacting these financial institutions and GME is just one possible primer that sets off the chain reaction. + +I think it is most likely a combination of #2 and #3. What if: + +1. You are a non-defaulting member +2. And You **know** that there are going to be member defaults +3. And you **know** that that there will be an auction for their assets at a market discount + +How would **you** prepare for this? Perhaps you'd want to have cash on hand to meet liquidity requirements and emerge from any collapse flush with assets? How might you go about this? + +* [What if you're Goldman Sachs? Wouldn't it be nice to have an extra $10.6B cash on hand?](https://www.bloomberg.com/news/articles/2021-03-27/goldman-sold-10-5-billion-of-stocks-in-block-trade-spree) +* [What if you're JP Morgan? How does $13B of cash sound?](https://finance.yahoo.com/news/jpmorgan-sell-13-billion-bonds-184602000.html) +* [What if you're Bank of America? Why not add $15B to your warchest?](https://www.bloomberg.com/news/articles/2021-04-16/bofa-to-set-record-for-largest-bank-bond-sale-at-15-billion) +* [What if you're Morgan Stanley? How about loading up on $5B?](https://www.cnbc.com/2021/04/06/morgan-stanley-dumped-5-billion-in-archegos-stocks-before-fire-sale.html) + +Then there's [the curious case of the increased short volume of BlackRock's IXG ETF which is a basket of finance and banking stocks](https://www.reddit.com/r/GME/comments/mr6pz6/world_war_whale_explanation_of_95_short_volume/). + +What is important is to understand the difference between **short interest** and **short volume**. [Squeezemetrics' white paper does a great job of explaining this](https://squeezemetrics.com/monitor/download/pdf/short_is_long.pdf): + +[\\"Thus short volume is actually representative of investor buying volume\\"](https://preview.redd.it/vrpqxaonn6u61.png?width=656&format=png&auto=webp&s=0f573ab8d8ebf5a1aa5fb31f70ceda5f4240e769) + +The purpose of a Market Maker is to provide liquidity. Say you want to buy a bunch of IXG. Rather than waiting precisely for a seller of the same exact block size to enter a sell order that mirrors your buy order, they create the short (an "IOU") and hand you the shares and then close the IOU when they can round up the shares. + +Thus this increase in short volume indicates demand for IXG which the Market Maker is fulfilling using a short which they will balance by buying shares. + +u/choompop highlights something interesting about IXG: + +>Berkshire Hathaway, **JPMorgan Chase & Co**, **Bank of America**, AIA Group, Wells Fargo, Citigroup HSBC Holdings, Royal Bank of Canada, **Morgan Stanley**, Commonwealth Bank of America +> +>*Twist:* **The 2nd largest institutional owner of JPMorgan is Black Rock Inc. with 192 million shares. The 3rd largest institutional owner of Bank of America is Black Rock Inc. with 509 million shares.** + +You might be thinking of the DD highlighting that Warren Buffett dumped many bank stocks over the last year, but keep in mind that he also notoriously dumped airline stocks near their lows at the outset of the pandemic. + +# How Do They Know There Will Be a Default and Who Will Default? + +How can we know which of those two scenarios above is more likely? No one can say with certainty what will happen except for a few very privileged insiders. Everything I've hypothesized can get blown away tomorrow. But we can consider some of the evidence that we *can* observe and see where it leads us. + +Tucked into SR-DTC-2021-004 is an interesting bit of text on page 12: + +[SR-DTC-2021-004 page 12: \\"in light of observations from simulation of Participant defaults\\" and \\"multi-member closeout simulation exercise\\"](https://preview.redd.it/indix74rn6u61.png?width=676&format=png&auto=webp&s=7d0ed8ed4d943a3dd7d4db349d4e89221808fed4) + +They have an existing model that they can use to simulate market conditions and it is possible that they have already simulated the squeeze and the aftermath. My assumption is that they also have some idea of the probabilities of which of their member entities are going to fail, when they will fail, how they will fail, and how much liquidity they need to contain these defaults. + +This proposed change would "*shift the timing of management's review of the Corridor Indicators and related metrics from annually to biennially*". What are these Corridor Indicators? + +[SR-DTC-2021-004 page 12: \\"Corridor Indicators include, for example, the effectiveness and speed of DTC's efforts to liquidate Collateral securities...due to any Participant Default\\"](https://preview.redd.it/a1yz0estn6u61.png?width=753&format=png&auto=webp&s=b89ca4fe5a4dba1ae41fb57f8db5a109ea8578f1) + +The key indicator called out as an example is *how quickly DTC can liquidate a defaulting member's collateral assets.* *We* don't know who will default, but I think that DTCC members have an idea. Think about that. + +SR-DTC-2021-004 was filed on **2021MAR29** and effective immediately. **They have long been planning for the defaults that will occur as a result of the squeeze.** + +Of course, models can be wrong. I have read in Michael Lewis' *Panic* that the financial models involved in the 2008 collapse didn't account for the fact that real estate value could go down and the effect of that downturn on over-leveraged positions. + +# What Does This Have To Do With Trading Sideways? + +Two weeks ago, I posted [Why are we trading sideways? Why is the borrow rate so low? When will we moon?](https://www.reddit.com/r/Superstonk/comments/mkvgew/why_are_we_trading_sideways_why_is_the_borrow/) because I was puzzled why we seemed to be stuck in a monetary [Lagrange Point](https://en.wikipedia.org/wiki/Lagrange_point) and I stated then: + +>What you can take away from this is that we will not see significant price movement up or down for the foreseeable future until OCC-004 and OCC-003 are in place; you are literally fighting against all of Wall Street, even the GME long institutions. There is literally no point buying deep OTM options until there is a whiff of OCC-004 and OCC-003 getting close to implementation. We will keep trading sideways, borrow rate will be inexplicably low, volume will be absent, etc. until DTC and OCC members are protected and they let off the brakes; Citadel and GME shorts are not and have not been in control. DTC, OCC, and all non-defaulting members have been preparing for the default of GME shorts. + +Since that time, we've had the drop to $140 and then more or less back into a stasis point. Millions in options will have expired OTM. + +I had pointed out the timing and coordination of the two prior drops and now we have a third set of data points to consider: + +1. The dip to $120 coordinated with the Q4 earnings and an almost immediate return to stasis +2. The dip to $160 coordinated with the positive Q1 preliminary results and an almost immediate return to stasis +3. And now the slow dip to $140 possibly coordinated with: 1) Melvin's Q1 results, 2) Sherman being denied his shares and being replaced, 3) the early discharge of their long term debt, and 4) DFV's options being exercised. + +Now it appears we're back to sitting in a new Lagrange Point and trading sideways again. + +[Is this a Long Whale inflicting \\"max pain\\"? Or simply multiple parties conspiring to establish \\"max stability\\"; to keep us in this Lagrange Point while waiting for all of the firewalls to be in place and positioning to profit from this event before we ignite the boosters?](https://preview.redd.it/vh5cer8dp6u61.png?width=1633&format=png&auto=webp&s=0ab005f0648da980401c786b4d9a06fecf3039d9) + +As I've stated before, I think that the variety of tools that we see at play are all part of the arsenal being deployed by multiple parties coordinating to keep this strapped down until the non-defaulting members are firewalled. The deep ITM calls, the dark pool trades, all of it is plainly visible to DTCC and the SEC yet no action is being taken. + +[DFV's tweet on APR08 is very interesting (turn on audio)](https://twitter.com/TheRoaringKitty/status/1380196363774918657): + +>Why is this happening to me?" +> +>"It's OK bud, it's just from the medicine, OK" +> +>"Is this going to be forever?" +> +>"No, it won't be forever" + +Are these SRs "the medicine" that we're waiting for "forever"? + +I think if we look at the actions over the last few weeks -- for example, the additional liquidity acquired in recent weeks by some of the major entities like Goldman Sachs and JP Morgan -- it seems exceedingly plausible that everyone wanted time to prepare for this event, especially because of the expiration of SLR and the approaching date of the SEC memo that goes into effect on APR22 converging in one window. + +# What About the Share Recall or [INSERT CATALYST]? + +My conjecture has always been that we will be waiting for SR-OCC-2021-003 and SR-OCC-2021-004 ***as long as possible*** because these two codify key changes to the OCC member agreement to contain the fallout of the defaulting members. + +In particular, SR-OCC-2021-004 has a very curious proposed change on page 5: + +[SR-OCC-2021-004 page 5: \\"OCC proposes to eliminate the pre-qualification requirements related to non-Clearing Member's trading experience\\"](https://preview.redd.it/qm5jztiqp6u61.png?width=524&format=png&auto=webp&s=cd14cbf5b6642620e09959f55dd995c3666b4679) + +Which basically blows the auction process wide open and allows [a much broader array of bidders to the auction](https://www.reddit.com/r/GME/comments/mit0eu/the_everything_shortcontinued_citadel_spacs_and/). Remember: Fidelity and BlackRock are **NOT** members of OCC but now they get a streamlined path to the auction. + +I think that in an *ideal world*, BR and Cohen want to wait until SR-OCC-2021-004 is codified to launch and in fact, perhaps thought that everything could have been finalized by now and they would be able to ignite this launch sequence. SIG threw a wrench into this by objecting to SR-OCC-2021-003, thereby pushing out its finalization which **would have been APR10** (45 calendar days from FEB24) setting us up potentially for **this week** if 004 had also been finalized but now could go out to MAY31. + +We are now running into the issue of the calendar and the shareholder meeting since some number of shares will likely have to be recalled in the next few days. + +# What Will BlackRock and GME Longs Do? + +This is where it gets interesting. + +[Here's Larry Fink, CEO of BlackRock on CNBC talking about Reddit and GameStop](https://youtu.be/yEgo08b19E8?t=207): + +[\\"...reddit and gamestop and what does that mean with our clients either...\\"](https://preview.redd.it/imiyzrdvp6u61.png?width=911&format=png&auto=webp&s=e37b48653042d099e0e5d7c8cc5108b72ea3bdb1) + +BlackRock knows what's going on at the highest levels. + +I have a hunch that the [early payoff of GME's long term debt](https://investor.gamestop.com/news-releases/news-release-details/gamestop-announces-voluntary-early-redemption-senior-notes-0) may not have been the initial plan because perhaps they were going to use the share recalls to trigger the squeeze. But I think that there's a chance that we may see BR and other institutional longs choose to **not** recall their shares OR wait until the last possible moment to execute the recall because it's too early to launch. + +With the delay in SR-OCC-2021-003, this may have forced them to put another tool into play: the crypto-dividend by taking a page out of the Overstock playbook. Thus they prepared this play at the cost of $216M so that they have another tool to be able to initiate the squeeze if they do not recall their shares. + +I think that GME board will delay action as long as possible because the conditions are simply not favorable at the moment. They were even less favorable in JAN, but it is possible that at that time, no one quite knew the full depth of the situation otherwise the same shenanigans going on now would have happened in JAN and FEB. Prior to JAN28, the assumption may have been that a few small HFs would fail. After JAN28, it was clear that the stakes were much, much higher and I have an idea why we've been trading sideways since MAR16. + +# What Happened on March 16 and Why Have We Traded Sideways Since? + +[SR-DTC-2021-003](https://www.sec.gov/rules/sro/dtc/2021/34-91336.pdf) on MAR16: + +[SR-DTC-2021-003 was effective immediately on MAR16](https://preview.redd.it/g8vmwv64q6u61.png?width=695&format=png&auto=webp&s=7feae2d390ae84a43dbe9b3a9af01ad6de03e3b5) + +The key change is that DTC Participants were required to reconcile and confirm their records of their positions with the DTC's records of their positions on a **monthly** basis prior to SR-DTC-2021-003. After SR-DTC-2021-003? The Participants have to reconcile and confirm their positions on a **daily** basis. + +So let's look at the data: + +|*Date*|*Open*|*High*|*Low*|*Close*| +|:-|:-|:-|:-|:-| +|MAR15|277|283|206|220| +|MAR16|203|220|172|208| + +And we have since then largely been in that sideways zone with a few days of movement since. + +This allowed all parties to see the deck that they are working with because previously, Citadel could try to "clean things up" before the monthly reconciliation. Prior to SR-DTC-2021-003, this was to occur "*No later than the 10th business day after* ***the last Friday of the month***" (page 5). You might be thinking now "what's the last Friday of January"? + +[January 29th was the last Friday. Could the squeeze on the 28th been a result of Citadel starting to reconcile their positions with the DTC?](https://preview.redd.it/v4qq5taaq6u61.png?width=302&format=png&auto=webp&s=b85418a5fd90612ae4801a8665af9eb50255ec08) + +So the JAN28 event may have been caused by Citadel starting the process of reconciling their positions to submit and confirm with the DTC. **After JAN28, all parties had a sense of the magnitude of this event but probably could not get enough transparency to make the right decisions**. + +Why wouldn't Citadel just continue to "fudge" their books? There's something interesting on page 12 and 13 of SR-DTC-2021-003 which gets referenced again in SR-DTC-2021-004 which is filed 13 days later. Here is the text of the existing member agreement on page 12: + +[SR-DTC-2021-003 page 12: the original text which gets replaced.](https://preview.redd.it/226il9qiq6u61.png?width=688&format=png&auto=webp&s=f9d0fd8e92d8861338401996d378f4a5b8d8e43c) + +And the text that replaces it on page 13: + +[SR-DTC-2021-003 page 13: note the underlined text which was added.](https://preview.redd.it/abdhb4akq6u61.png?width=686&format=png&auto=webp&s=790adbd675869ed2f580316e307009121fa38333) + +Now let's look at a piece of text in SR-DTC-2021-004 on page 9: + +[SR-DTC-2021-004 page 9: notice the addition of the text \\"on the issuer's books and records\\"](https://preview.redd.it/6trdmuzqq6u61.png?width=732&format=png&auto=webp&s=b0420af2fad7640d602aae71f62f479b8870b0bc) + +In other words, DTC is highlighting that it will only release dividends, interest, other distributions, and *redemption* for any securities it has on record. 003 and 004 fit together to clarify that DTC will not make payments for anything that is not reconciled with their systems. + +# TL;DR. So...What Ape Do? + +Same as always: **HODL**. + +My conjecture is that **in an ideal world**, SR-OCC-2021-004 is the key piece to get into place to re-define the liquidation of failing members. But we may now be pushing up against the calendar and RC, GME, and BR may be forced to play their cards rather than wait. Or I could be wrong and everything gets blown open tomorrow. + +While I do not buy into much of the technical analysis around this stock, there is something very interesting if you look at the charts *and volume* leading into the spike at the end of February and where we are now. + +[Look at the pattern leading into the February spike and the pattern we're in right now over the past week.](https://preview.redd.it/e9xlew2ar6u61.png?width=1629&format=png&auto=webp&s=dc07760b1ece57492622e604f0c6a1b28bf2a248) + +I think we are getting really close to another big price move. It may or may not be the squeeze, but we see a repeat of almost the exact same price movement *and volume* as the last time we moved out of a stasis. + +Like a black hole, we cannot actually see it because even light does not escape, but we can observe how the mass bodies around it interact and how it distorts the space that it occupies. The squeeze is there. The best that we can do is to observe how the major players are positioning and preparing. +Ignore what the trolls at /r/ASX_Bets are saying, anyone, even **you** can be the proud owner of a brand new Lamborghini without taking **any** investment risks. Want to find out how? Read on! + + +The Lamborghini you want to own is a [Lamborghini Huracan (RRP $384,187)](https://www.carshowroom.com.au/showrooms/lamborghini/huracan) as this is the cheapest Lamborghini on the market. Don't worry about on road costs, you don't want to actually drive this vehicle as it guzzles 13.7 litres of fuel **per 100 kilometres** which is very, very uneconomical. At current petrol prices of $1.30/litre this would cost you $17.81 for every 100km you drive, and substantially depreciate the value of the Lamborghini in the process. Also please note I used the petrol price for standard unleaded petrol for this calculation, as premium petrol is only required if you're someone who wants to pay for petrol from their 'splurge' account rather than their everyday expenses account. Personally I’d rather use my splurge funds to occasionally treat myself to John West Tuna Tempter ($2.30 for 95 grams) rather than my usual Woolworths Tuna ($0.90 for 95 grams). + +So how do you get to a bank balance of $384,187 and become the proud owner of a lambo? Minimise your outgoings and maximise your incomings, it’s that easy. Trim the fat from your outgoings, for example I looked at my budget and realised that I could simply swap out my Woolworths Tuna ($0.90 for 95 grams) for **Woolworths Tuna Chunks** ($1.30 for 185 grams), a saving of $73 per year if you eat at least one tuna meal a day. All of a sudden that lambo is getting closer, as $384,187 becomes a much more manageable $384,114. + +You can also minimise your outgoings by declining any social event, as these are one of the biggest money sinks going around. If there’s one thing I learned from doing a 7 month lockdown in 2020 due to COVID, it’s that friends and family are mindless consumers who spend money like it’s an inflationary asset. A simple event, such as going to your mother’s funeral, can cost hundreds of dollars once you factor in a $99 suit from Tarocash (don’t be afraid to haggle), buying a pair of second hand suit shoes, a reversible tie (to maximise usage) and a bus fare to get to the funeral and back. The good thing is for these type of events is **you have the power to say NO**. When asked, just say you’re trying to save money at the moment and have already made plans to go to the park and make use of the free exercise equipment (save $1040 a year on gym fees). + +But what about those of us who want a lambo sooner rather than later? I’m about to let you in on a little secret the Liberal party don’t want you to know about called s̶e̶x̶u̶a̶l̶ ̶a̶s̶s̶a̶u̶l̶t̶ making your money work for you. The standard variable rate on your ING High Interest Savings account is 0.05% p.a, which is excellent in itself, but did you know there are other ways to earn significantly more? A 12 month term deposit for ING is 0.22%, that’s a **400% pay increase** just for locking away your funds for an entire year. For example if you combine your tuna money, your money saved from skipping funerals, and your emergency fund, you can turn your $1200 into a tidy $1202.64 by this time next year (less applicable income taxes). + +I know what you’re thinking, how can my last tip top earning an extra 400% a year? Cash. That’s right, cash. Since 2009 the ASX has had not one, not two, but three years where ASX ended up **loosing money** for it’s “investors” (I like to call them gamblers). You know what hasn’t lost money any year you’ve been invested? Cash. If you sold at the bottom in 2011, 2018 or 2020 you’d have lost not only your profits, but also part of your capital as well. You wouldn’t set a $100 note on fire so why would you risk capital loss when you can get a **guaranteed** profit each and every year. Make your money work for you, don’t work for it (although I do recommend working lol). + +And that’s it, as simple as that. Look for where you can save money, look for where you can make money and then just sit back and wait for a financial windfall where your parents die and leave you a house, a car, and a $1.3m share portfolio (remember to convert this to cash ASAP). Enjoy your new lambo, you’ve earned it. +This [video](https://www.reddit.com/r/Superstonk/comments/rww52i/wall_street_veteran_charles_gradante_calls_out/?utm_source=share&utm_medium=web2x&context=3) was surging upwards on /r/all then reddit went down for a little bit. When it popped back up, it had it's [upvotes cut by like 70%](https://www.reddit.com/r/Superstonk/comments/rx3ioz/why_were_30000_upvotes_removed_from_todays_post/?utm_source=share&utm_medium=web2x&context=3). Some [comments](https://www.reddit.com/r/Superstonk/comments/rww52i/comment/hrer0p7/?utm_source=share&utm_medium=web2x&context=3) on the video also had their upvotes cut, some by like 90%, basically stopping it from rising as fast. This is pretty insane considering how damning the video is and what he's saying in it. Everything that man is saying in the video deserves to be scrutinized. Why is there weird stuff happening on Reddit right around the same time weird stuff happens with GME? + +This needs to be discussed more. It definitely matters when such monumental videos can just pop off the feed and lose traction while it's growing. + +He talks about the reason price started to increase in January of last year. Let's take a look at the transcript directly from the video. Starting at 9:53, someone asks him how the buy button got turned off. He then says the following. + +&#x200B; + +>Well, like I was alluding to before, the market markers were basically selling to Robinhood and the Reddit crowd naked calls, long, and they would short the call because it's double entry accounting. Somebody's long and somebody's short. And the market makers did not hedge in the beginning. But then when they started hedging, because the volume of calls went to the point where it was dangerous, the hedge to a short call is to either buy another call or buy the stock, and it's much easier to go in and buy the stock electronically... So they bought the stock and in buying the stock they were moving the price up. And their attitude was this call buying will stop, so let's buy the stock, hedge our current position, and hope that the buyers of these calls stop. But they didn't. They just kept going and going and going. So the buying of the long stock on the short call became the issue. And so it got to the point where the exchanges and regulators were aware that market makers were becoming illiquid. They have to settle these trades and they need capital to do that, and they were spending their capital... to cover the short call. And then that's what blew it. Then they had to tell \[them\] stop buying the stock. No more buying the stock unless you're Plotkin or hedge funds who were short and you want to reduce your risk, but no more buying for speculation, you can buy to cover a short. + +This is an insider talking about it that basically lays out the events very clearly. I think DRS and options work in tandem. If there were call options that they needed to purchase shares for and there were no real shares available due to DRS, well, that's a moon shoot folks. + +If you have the knowledge, options may be for you. If you don't, I would suggest sticking to buy, hold, and DRS because everything helps. Discussing any topic should never be off limits when it all relates to GME. +https://www.marketwatch.com/story/irs-ruling-allows-401k-student-loan-benefits-2018-08-27 + +The IRS is setting up a framework for companies to match their employees' student loan repayments in the same way companies match 401k contributions. This will be cost neutral for the employer (edit: as in, it would not be more or less expensive for the company than traditional matching). + +Edit: the employer's match would go into the employee's 401k account. + +According to the article, employees with student loan debt accumulate 50% less wealth in their retirement plans (by age 30) than their peers without student loan debt. I think most of us with student debt have at one point or another felt "behind". + +Thoughts? This is definitely a cool idea and would be a great hiring incentive/perk. + +Edit 2: due to the popularity of this post, I wanted to remind everyone of some of the rules on our sub. + +>We don't allow: + • Moralizing issues + • Petitions + • Political discussions + • Political baiting + • Soapboxing + +This is meant to be a discussion of personal finance, debt, and retirement savings, not a meta review of the pros and cons of capitalism. Please keep things on topic. + + +Edit 3: Since a lot of people are confused, I'll explain how a 401k match works. A 401k is a retirement savings plan that came into popularity as pensions fell out of the mainstream. The 401k is a tax-efficient vehicle to invest your money for retirement. Like the pension, employers can contribite to their employees' 401k plans as a benefit. This is usually done via a matching mechanism: I contribute 4% of my paycheck, and my employer matches that amount. Matches are almost always capped. + +With the method laid out in the article, you would be able to make qualified student loan payments and have your company match that amount as a contribution to your 401k, up to a certain amount. So say you make $2000 per month, your employer matches 5% of your 401k contributions, and your monthly minimum loan payment is $1000 (in this example, you have a lot of debt). You aren't contributing to your 401k currently. If your company chose to take advantage of this program, they would put $100 ($2000*0.05 match) in your 401k each month you made a payment on your student loan. + +This doesn't "hurt" people without loans. This is only subsidized by the government insofaras the 401k is tax-sheltered (you still pay taxes on that money), and this doesn't constitute your company paying your loans. Participation isn't compulsory. +TADR: read it. This is the hardest Reddit post I'll ever write. + +&#x200B; + +Yesterday evening on [computershared.net](https://computershared.net) a large dildo appeared. You apes [noticed](https://www.reddit.com/r/Superstonk/comments/rlx6vs/looks_like_reinforcements_have_arrived_euroworld/). Regrettably, that dildo is wrong. It's off by 40k shares. + +https://preview.redd.it/qbeqxp8n94781.png?width=640&format=png&auto=webp&s=a1e079d148dacd27ae4e175f033cef4ed85a0394 + +If you've read my [methodology](https://www.reddit.com/user/jonpro03/comments/q7o6ra/drs_infographics_faqs/), you know that every evening at 6pm, I sit down with a glass of hopium-laced scotch and [audit the day's posts](https://www.reddit.com/r/Superstonk/comments/pv9lu2/manual_auditing_of_computershare_screenshots_be/). + +Why? Because I use computer-vision to extract values from images, and computers are stupid. + +Take this image, as an example: + +https://preview.redd.it/io4dvle0b4781.png?width=540&format=png&auto=webp&s=94ba5264c8328755ab0f026b4e6afdd518239aa5 + +Looks innocuous enough. You and I would see this and say: 7.429 shares. + +Here's what computer-vision saw: + +>ao Bay BO ull 69% 11:45 xX @ Summary | Investo... in a : vww-us.computershare.com €omputershare yea = GME O $1,498.98 Portfolio Portfolio Value CAD $1 402,08 aN GAMESTOP CORP (GME) 7.429 CLASS A COMMON USD $156.14 © As of 21-12- $1,498.98 nnn 41 + +The way I wrote the code, it scans that text until it sees the word **portfolio**, then it looks for the first number without a **$** and records that as the number of shares. In this case, it found **402,08** and recorded it as the number of shares. + +Where did 402,08 come from? It's how CV interpreted the Portfolio Value line that's interrupted by the /\\ button. This is pretty common, believe it or not, and it's why I actually review EVERY SINGLE DRS POST EVER DAMN DAY. + +So yesterday evening, I'm sitting with my family watching Drop Dead Fred and auditing the day's posts. This one would have come up for review, and said: "Hey jonpro, I recorded 40,208 shares from this image. Does this look right?" and I said **YUP**. Probably at this part of the movie + +https://preview.redd.it/ae6wqiv6i4781.png?width=250&format=png&auto=webp&s=986e72d94c0011c9b52a4dd03d35286019844772 + +More egregious on my part is that an hour later, when [computershared.net](https://computershared.net) updated, I looked at the new dildo and thought, "Yep! That looks right", only questioning the results this morning when I saw the hype post. + +I went back and looked at yesterday's data and there it was, staring at me like a livid gorilla who I just kicked in the nuts. + +Queue the bass drop and camera zoom. "Fuck" + +# Honesty time with Jonpro: + +I don't like this. I don't like having the singular power to sway the sentiment of Apes. + +I've LONG wanted to offload the responsibility of auditing records onto other apes... but I have trust issues. + +https://preview.redd.it/o73ubhy7g4781.png?width=500&format=png&auto=webp&s=4e652ebf7d9507e8d5d5dae04818079034b82759 + +I'm very well aware of how dangerous this is. When MOASS starts, the ability to sway Ape sentiment is going to be very desirable, and will make me a target of SHFs. I can't be bought, but this problem is the root of my trust issues. If someone else is auditing the data, can I trust them to not be bought? + +One, or even a few apes having the sole responsibility for the validity of data is no longer acceptable, and it's not a responsibility I want anymore. + +# What options have you considered? + +A few, actually. None of them perfect. + +**Trusted Auditors**: why don't I share access keys with trustworthy apes so they can audit records? There's so much power there. A snafu like what happened yesterday, I would catch that. But if someone wanted to make it look like DRS was dying off, they could "accidentally" fail to record a few posts, and even go back and rewrite a few days. + +**DRSBot Integration:** u/Roid_Rage_Smurf and I have talked about this one at length, even agreeing on an API schema. There are a ton of shortcomings, though. A few for example: DRSBot only records whole numbers, I record decimal shares. DRSBot records change-in-value from last post (delta value), I record face-value then later calculate the delta. DRSBot is real-time, I update daily. + +**Majority Rules:** an option I considered is putting a page up on [computershared.net](https://computershared.net) where the last 24hours of posts could be reviewed by everyone anonymously. If there were something incorrect, an ape could enter/submit the correct value. The most-submitted value wins. The problem here is that any script kiddie could write a bot to falsify records. + +**Community-based Auditing:** what if I implemented Majority Rules, except you have to authenticate with reddit to submit your audit? It would solve the script-kiddie problem and make it easy to sniff out shills trying to falsify data. I really like this idea, and have looked at what it would take to **Login to** [**computershared.net**](https://computershared.net) **with your Reddit account.** It's a HUGE programming effort for me. I already spend upwards of 2 hours/day on [computershared.net](https://computershared.net)'s data. Where am I going to find time to build that? Would I even get it built before MOASS? + +&#x200B; + +Basically, I'm fucked. I've painted myself into a corner. + +# Fixing yesterday's snafu + +I'm going to leave the dildo up until tonight's update, then I'll take it away. +Why Buy?📈 + + + +🍆Are you tired of all of these limp coins, and looking for something to get your portfolio a bit hard? Look no further, $VIAGRA has grown from a $5k MC TO $2.1M in 3 days. We have grown an insane community of strong holders, enough to make you and your portfolio HARD!!🍆 + +&#x200B; + +CHARITY GOAL: + +&#x200B; + +Not only are we growing at an increasing rate , we are looking to put this exposure and growth towards changing the world. We will be shortly announcing our first Charitable donation to a UK Men's health charity!! We will be holding polls for our community to vote for our next donation at continuous scheduled periods.THIS WILL BE NON PROFIT!! + +&#x200B; + +At 4 days old we have achieved a lot! We have one of the most active teams in the crypto sphere!! If you don't believe me, join our telegram and check it out for yourself!! We have already made all possible application's to relevant listing, such as CMC and coingecko and these will be with us soon !! We have launched 2 iterations of our website and are growing all of our social media platforms !! + +&#x200B; + +We not only have the hype that a lot of these emerging coins have but we have an extremely useful usecase on the way!! Within our roadmap we have plans for an exchange which will be built around our token! We will incorporate charitable taxing within the exchange and we have some revolutionary plans that will change the way all traders can invest smartly, and beat the numerous rugpulls, and scams, hindering the crypto community!! Just pack your bags and get ready for CHADTOOLS!!🤫 + +&#x200B; + +If you're still not sold , just check out our marketing efforts!! We are carefully spending our marketing wallet to build our exposure and reach beyond what you guys ever thought we could achieve!! We have already secured multiple 800k+ influencers for paid promotions , which have gained our holders and market cap hugely!! This is just the start of what's to come!! + +&#x200B; + +We have strong tokenomics with 12% (5% burn , 5% redistributed, 2% LP reward ) tax on transactions tax incentivising holding. We also We also have great distribution amongst holders with the maximum wallet at 4%. 30% liquidity burnt and a renounced contract. NO RUGPULLS HERE!! + +&#x200B; + +We hope that you can see our potential and worth within this shitcoin saturated space!! We will be different, we will make you all hard!!! + +&#x200B; + +Links: + +&#x200B; + +📈Contract: 0x9628542656482ddee1989b04133f02a799eb0936 🚀 + +&#x200B; + +PancakeSwap: [https://exchange.pancakeswap.finance/#/swap?outputCurrency=0x9628542656482ddee1989b04133f02a799eb0936](https://exchange.pancakeswap.finance/#/swap?outputCurrency=0x9628542656482ddee1989b04133f02a799eb0936) + +&#x200B; + +🖥 Chart: [https://charts.bogged.finance/?token=0x9628542656482DdeE1989b04133f02A799eB0936](https://charts.bogged.finance/?token=0x9628542656482DdeE1989b04133f02A799eB0936) + +&#x200B; + +💻Website: [viagrat.org](https://viagrat.org) + +&#x200B; + +📚TG: [https://t.me/getviagra](https://t.me/getviagra) + +&#x200B; + +📚Twitter: [https://twitter.com/viagratoken](https://twitter.com/viagratoken) +Welcome to the **/r/EthTrader** Daily Discussion thread. + +*** + +The thread guidelines are as follows: + +- All sub rules apply here. Please review our **[rules page](https://www.reddit.com/r/ethtrader/about/rules)** to become familiar with them. The rules page is also linked in the announcement bar above +- General discussion topics include, but are not limited to, events of the day, technical analysis, alternative Ethereum projects, or minor questions. +- Breaking news or other important content should be submitted as a separate post. +- In-depth altcoin discussions should be referred to the /r/CryptoCurrency discussion thread. To view the thread, [follow this link](https://www.reddit.com/r/CryptoCurrency/search?q=%5BMonthly+General+Discussion%5D&restrict_sr=on&sort=new&t=all) and choose the latest entry on the search page. +- Pumping, venting, trolling, or any other similar behavior should be redirected to the /r/CryptoMarkets trollbox thread. To view the thread, [follow this link](https://www.reddit.com/r/CryptoMarkets/search?q=Trollbox+Thread&sort=new&restrict_sr=on&t=all) and choose the latest entry on the search page. + +*** + +**[EXPERIMENTAL]** - To view live streaming comments for this thread, [click here](https://reddit-stream.com/comments/auto). Account permissions are required to post comments through Reddit-Stream.com. + +*** + +Thank you in advance for your participation. Enjoy! + +I think that might be the most outraged I’ve ever been, it continues to stick in my craw. And for me that’s the day everyone on the other side of this trade signed their own symbolic death warrants. I will never back down or give in to that sort of tyranny in the supposedly free United States. +I am listening to Eric Weinstein and he argues that a long term labor shortage should not exist and that a long term shortage in academics is artificial. The idea is that transformational change that would push more URM and women into STEM has been avoided due to over reliance on immigration. Also, many universities operate as businesses with the salaries of a large number of admins that count on large number of low paid TAs and RAs to make financial sense. For grad students, many domestic students do not choose to get a PhD simply because it does not make economic sense unless immigration esp from a poorer country is also included. + +However, the other side of the argument is simply that US and European schools are able to attract international talent where as China or Japan cannot. Now if we ignore the T100 or even T200 research universities in the US, the rest that have PhD programs are still full of international students. Can this argument that any Western school has a bit of of a cachet? Is this cachet the chance for immigration? +Shopify had a crazy stock-price movement in the last 2 years, went from roughly $350 prior to the pandemic, to almost $1,800 (almost 5x) at its peak, and is now down to $364 (80% down). + +The goal of this post is to share my fundamental analysis and valuation of this highly volatile company. Feel free to provide your feedback and disagree with me :) + +At the peak, the market cap was over $220b, let's keep that number in mind. Today, it's around $46b. Let's get started! + + Link to the video for those who prefer to watch: [https://youtu.be/gMji2hQCg1I](https://youtu.be/gMji2hQCg1I) + +&#x200B; + +**What is Shopify?** + +In one sentence, it is an eCommerce website builder that takes care of the infrastructure and provides additional services/solutions (payment processing, marketing, analytics, inventory & fulfillment, etc.). It allows setting up and operating a business online easier. + +&#x200B; + +**How does Shopify make money?** + +The revenue is split into two groups: + +1. Subscription revenue - This is self-explanatory, and refers to the monthly recurring revenue that Shopify gets from the individuals/businesses that use their platform. This stream of revenue doesn't depend on the success of the users. Regardless if a company sells 1 product or a million, the subscription revenue is fixed. In my view, this is the less-risky stream as they'd only lose customers if they switch to another platform (not that likely) or a business goes bankrupt. Historically, this stream grew 50% year-over-year, now almost $1.4b for the last twelve months (ending Q1/2022). This is also a high-margin business, with a gross margin of 80%. + +&#x200B; + +2. Merchant solutions - This is the segment that takes all of the other revenue and is highly dependent on the success of the individuals and businesses that use the platform. Payment processing fees, currency conversion, referrals, advertising, etc, all of that is included here. If there's a slowdown in the economy and the eCommerce business decreases, this stream of Shopify would be harmed. In the last years, it grew roughly 75% year-over-year to almost $3.5b in the last twelve months. The gross margin in this segment is lower (43%). + +&#x200B; + +The overall gross margin has been decreasing and if we only look at that in isolation, the conclusion would be that something bad is going on and Shopify cannot keep its margins at the same level. This is not correct. The reason for the margin decline is only due to the fact that the lower-margin revenue stream (Merchant solutions) is growing faster than the higher-margin revenue stream (Subscription-based). Hence, the gross margin naturally moves closer to the stream that contributes more. + +So, the total revenue is close to $5b. If we put this next to the market cap at its peak of $220b, it seems quite unreasonable for anyone to pay such a huge premium. Yes, the company has been growing at high rates, but the growth cannot continue at that pace forever. The moment the growth declines, that's where the problems start and a correction comes in, so it's always wise to incorporate this growth decline in the model and not assume growth of 50-60% for a very long period of time. + +The overall gross margin is at 53% for the last 12 months and it is expected to drop even further. Let's keep it simple and assume that it will decrease to 50%. + +&#x200B; + +**Operating expenses** + +With the remaining 50%, Shopify needs to cover 3 main expenses to get to the operating result. + +1. Sales & marketing - Decreased from 34% of revenue (2017) to 21% in LTM. + +2. R&D - Remains stable at around 20% of revenue in the last 5 years + +3. G&A - Remains stable at around 10% of revenue in the last 5 years + +&#x200B; + +By subtracting these 3 costs, we get to an operating profit of 1%. So, a company with revenue below $5b and no operating profit, was selling for $220b. That sound quite irrational. Of course, there are a couple of other factors to consider. + +Every growth company puts as much effort as possible into growing quickly. For Shopify, that's mainly in Sales & Marketing and R&D. The more potential customers they can reach, the faster they can grow. The more they can innovate, the more services they can provide. However, as the growth slows down, these costs as % of revenue decrease. The marketing won't yield the same returns as before, simply because the # of potential customers decreases. All of this will lead to margin expansion. + +&#x200B; + +**Balance sheet** + +There are a couple of main points to mention: + +1. Shopify is a capital-light business that doesn't need to invest in tangible assets in significant amounts. + +2. They have a strong cash position ($7.2b in cash & short term investments + $2.9b in long-term investments) + +3. The debt is at a very low level, roughly $1.2b (insignificant compared to their $10b cash/investments). It could be argued that they didn't use the low-interest rates to increase their financial leverage. + +&#x200B; + +Recently, Shopify announced the acquisition of Deliverr for $2.1b, a company that will add value in their process of inventory inbounding and distribution. The aim is to offer delivery to the customer within 2 days of ordering (Competitive with Amazon Prime). This is not yet paid, so needs to be deducted when valuing Shopify as a company) + +&#x200B; + +**DCF model** + +Key assumptions: + +1. Revenue growth: 25% for the next 5 years, then slowly decrease to the risk-free rate of almost 3%. + +2. Operating profit: Slowly improve to 25% (Basically, the 3 types of expenses mentioned above, combined, should decrease to 25% of revenue over the next 10 years) + +3. Discount rate - 11.7% (Based on WACC) + +Outcome: **Value per share - $276/share (current market price - $364)** + +My assumptions are based on what I think Shopify can deliver with high probability. Could be I be wrong? Absolutely! + +&#x200B; + +**What if I'm wrong?** + +Based on my assumptions, the revenue will grow by 426% in 10 years and the operating margin is estimated at 25%. However, I could be significantly wrong. Therefore, the table below provides a valuation of the company based on assumptions different than mine related to the revenue 10 years from now and the operating margin. + +&#x200B; + +|Revenue / Op. margin|20%|25%|30%| +|:-|:-|:-|:-| +|300% ($19.0b)|$190.1|$229.3|$269.1| +|426% ($24.4b)|$226.8|$275.8|$326.4| +|1000% ($51.0b)|$400.3|$500.5|$601.0| +|3350% (159.9b)|$1,089.9|$1,388.4|$1,687.0| + +Based on your assumptions about the revenue growth and margin expansion of Shopify, you can decide whether the company is expensive or not at this price. + +The last row is only for illustration of how irrational the market was in the last year when the price went up to almost $1800. Basically, to justify that valuation, the company would need to grow the revenue by around 50% every year for the next decade and at the same time improve its operating margin to 30%. So, starting with the gross profit being around 50%, the Sales & Marketing, R&D, and G&A together, should be 20% of sales. + +Feel free to add your insights into Shopify and add value to the analysis. Feedback (both positive and negative) is always welcomed :) +Heya Stonkers! + +You can **VOTE** with your GameStop shares for the upcoming shareholder meeting on June 9th. The final deadline to vote is June 8th. + +It is important that you cast your vote, because this can prove that there ARE more shares floating around than what GameStop has issued. This means that if the amount of votes CAST exceeds the FLOAT. A.K.A **Hedgies. Are. Fuk.** + +**Gamestop's Board of Directors is urging everyone to vote as soon as possible.** + +https://preview.redd.it/t01rkfo0li171.png?width=842&amp;format=png&amp;auto=webp&amp;s=c784448e5d641a9194d2e8f1fa0cfb3610760fcf + +\---------------------------------------- + +**HOW Do I VOTE?** +*Click on these links below to view how to vote through your brokerage* +*(You must be a shareholder on or before 4/15 to be eligible to vote)* + +* EToro + +1. You should have received an email with information regarding the voting procedure and how to vote! + + + +* Fidelity: + +1. Navigate to Fidelity.com and Log In +2. From the Portfolio Summary page, click ‘Statements’ +3. Select ‘Proxy Materials’ in the white menu at the top of the page. The following page will show all current available securities you are able eligible to vote on. +4. There will be a ‘Vote’ link in the ‘Status’ column if you are able to participate. +5. The link will take you to an independent Fidelity-affiliate website. There, you’ll be able to vote, review meeting agendas, and see related documents/learning materials. +[https://www.reddit.com/r/GME/comments/mspe40/how\_to\_proxy\_vote\_gme\_with\_fidelity/](https://www.reddit.com/r/GME/comments/mspe40/how_to_proxy_vote_gme_with_fidelity/) + + + + +* TDAmeritrade +CallTDA @ (800) 669-3900 (Trade Desk) + +1. Enter your account info, then select option 4 +2. Say something like “Hello, I am calling because I own a handful of GameStop shares and I am interested in getting my control number that I can use to vote on proxyvote.com regarding the upcoming shareholders meeting” +3. The rep will likely do one of two things; either transfer you to the proper department for them to give you that info, or they themselves will chat to that department internally to get the control # for you. In my case, the trade desk rep chatted to the department internally and got my control number for me within about 20 minutes. +4. Once you have your control #, it’s off to the races. Visit [www.proxyvote.com](http://www.proxyvote.com/), enter your 16 digit control #, then vote on the list of things. It’s about 5 or 6 things, with recommendations from the board on what they suggest. +5. You’re done! +[https://www.reddit.com/r/GME/comments/mx27pq/proxyvote\_instructions\_for\_td\_ameritrade/](https://www.reddit.com/r/GME/comments/mx27pq/proxyvote_instructions_for_td_ameritrade/) + + + + +* IBKR + +1. You should have received an email with your control number and a link that automatically takes you to a website that allows you to vote. + + + +* XTB + +1. Contact their support, email, or call them asking for your control number to vote for using your GME shares. + + + +* Saxo Bank + +1. You should contact their support and they will guide you on the procedure of getting your control number. + + + +* TradeStation + +1. You should have received an email with a link that takes you to a page to vote! + + + +* BinckBank (Deadline to vote Friday May 28th 12:00) + +1. Mail to klantenservice@binck.nl with subject: Incident 2346 + * Your Binck Account Number* + +2. Alternatively, you can call them at 020 606 2666 + + + + +* Degiro + +https://www.reddit.com/r/Superstonk/comments/n63w7l/important_how_to_vote_with_degiro/ + + + +* SoFi + +1. They should have sent an email regarding your proxy materials. If you haven't seen it, contact them! + + + +* Chase + +1. They should have sent an email regarding your proxy materials. If you haven't seen it, contact them! + + + +* Stash + +1. Contact their support and ask for your control number for your GME shares in order to vote for the upcoming shareholder meeting. + + + +* Schwab + +1. Log in, go to services tab, click "corporate actions". On the corportate actions page, click "Proxy Events". On proxy events page click on "vote" + +2. Alternatively you can also call them by following the guide here: +https://www.reddit.com/r/Superstonk/comments/n3weyj/schwab_how_to_get_your_control_number_and_vote/ + + + +* Avenue (Brazilian) + +1. Call broker + + + +* Wells Fargo + +1. Should have recieved an email from them, if you haven't make sure to call them and ask for your control number. + + + +* BNP PARIBAS / SMARTBROKER + +1. You should receive an invitation for the vote in your (mail) account. From there you can request your right to vote for free! + + + +* SwissQuote + +1. Contact them and ask about voting for GME. https://www.swissquote.ch/url/contact + + + +* DIRECTA SIM (Italy) + +1. To obtain your code you must submit your request to the customer service via email at directa@directa.it + + + +* - DNB (Norway) + +1. To vote contact corp.acts@dnb.no + + + + +* - Fineco + +1. Contact them by emailing, or calling them + + + +* - Passfolio + +1. An email should have been sent with the proxy link to vote. + + + +* - Firstrade + +1. You should have received an email from them regarding how to vote. + + + +* - M1 Finance + +1. You should have received an email from them regarding how to vote. + + + +* Vanguard + +1. You should have received an email with your control number and a link that automatically takes you to a website that allows you to vote. + + + + +* TradeRepublic +[https://www.reddit.com/r/Spielstopp/comments/nh24t9/tr\_affen\_k%C3%B6nnen\_w%C3%A4hlen/?utm\_source=share&amp;utm\_medium=web2x&amp;context=3](https://www.reddit.com/r/Spielstopp/comments/nh24t9/tr_affen_k%C3%B6nnen_w%C3%A4hlen/?utm_source=share&amp;utm_medium=web2x&amp;context=3) + + + + +* Comedirect + +1. Use the contact form and demand the proxy statement. You will be able to find it after a few hours/days (maybe after the weekend) in your Postbox. Alternatively, you can call them +[https://www.reddit.com/r/Superstonk/comments/ncg06m/german\_broker\_comdirect\_finally\_allows\_to\_vote/](https://www.reddit.com/r/Superstonk/comments/ncg06m/german_broker_comdirect_finally_allows_to_vote/) + + + + +* WEBULL + +1. You should have received an email with your control number and a link to: [https://www.proxyvote.com/](https://www.proxyvote.com/) Contact Webull if you don’t have it. + + + +* Ally Invest + +1. You should have received an email from id@proxyvote.com + + + +* Interactive Investor + +1. Call or Email them to get information on how to cast your vote. + + + +* Interactive Brokers + +1. if you have a cash account and disabled the lending then you will get your documents. Otherwise, contact them. + + + +* Stake + +1. You should have received an email with a link to vote from (SAY) (GameStop Corp) + + + +* REVOLUT (DriveWealth Partner) + +1. You should have received an email with a link to vote from (SAY) (GameStop Corp) + + + +* E Trade + +1. You should have received an email from id@proxyvote.com + + + +* Wealth Simple + +1. Contact a customer service representative by going to Settings -&gt; Help -&gt; Chat with us +2. Tell the representative that you are interested in getting the control number for your GME shares so that you can vote. +3. They will respond with a control number (multiple control numbers if you have multiple investment accounts with GME) and a proxyvote link where you will enter your control number for each investment account and vote. + + + +* TD Direct Investing + +1. Call the investing 1 800 number and request control number to provide proxy vote for upcoming shareholders meeting. + + + +* Scotia Itrade + +1. The same as TD Direct Investing above ^ + + + +* IG Trading + +1. IG Trading says you should follow the protocol linked here. https://www.ig.com/uk/help-and-support/investments/share-dealing-and-isas/do-you-offer-proxy-voting + + + +* Questrade + +1. Contact support and request proxy voting, takes 2-3 business days by email! Alternatively, you can also submit an account request, and you'd get it by mail. + + + +* BMO + +1. Contact support and request control number, takes 2-3 business days by email! + + + +* RBC + +1. Arriving by snail mail! + + + +* Q Trade + +1. Arriving by snail mail! + + + +&amp;#x200B; + +* RobinHood + +1. Check the email you received from RobinHood for further instructions + + + + +* CashApp + +1. You should have received an email with a link to vote from (SAY) (GameStop Corp) + + + + +*(Comment down below if I have missed your brokerage, and I will add it)* +\---------------------------------------- + +**If you haven't received your control number, make sure you...** + +* Check your broker inbox for proxy info ✔ +* Check your email ✔ +* Send a message via your broker help/chat interface ✔ +* Call your broker and request your control number ✔ +* Look around the comments and other posts to see if any resources have been shared that might help you in your search ✔ +* Check your broker's website for an FAQ- Many have a landing page with GME specific proxy info ✔ +(*Thank you* u/PinkCatAcid *For This)* +\---------------------------------------- + +**Misinformation ALERT:** + +\- The only apes who can vote the DAY OF the shareholders meeting are the ones who PREARRANGED it with GameStop and will be there IN-PERSON. Shills will try to convince you otherwise. All proxy votes MUST BE in by June 8th, or they WILL NOT be counted. Like GameStop, Superstonk encourages all apes to vote as soon as possible. + +\- Phishing Links from bad actors are being spread around, make sure to input your control number in a website provided by official channels **ONLY. (GameStop Corporate Website OR Links From Your Broker)** +\---------------------------------------- + +**DeadLine To Cast Your Vote: Tuesday, June 8th, 2021** + +\---------------------------------------- + +**Voted Flair** + +**(StonkU2):** + + - Want a “🦍Voted✅” Flair? Automod will hook you up! Just type !apevote! And - BOOM - you get a flair, and you get a flair, and YOU get a flair. Everybody Votes? Everybody gets a Flair! + +- If you attempted to vote with no success, +type: !novote! + +- Please note for all apes who own GME but are feeling left out by the voting flairs... you can now type !newape! and receive your own flair: ✅ New 🦍 + +*Please note, this will overwrite any current flair in place. If you already have custom flair, but also want the voted or attempted vote flair, just tag* u/Bradduck_Flyntmoore *in the comments below!* +\---------------------------------------- +**Final Notes** + +**Please note that the board recommends you vote for ALL** + +If you see an ape without the flair, ask them if they have voted, and encourage them to vote! + +**Ape Help Ape!** +\---------------------------------------- + +If you have any questions about voting, do comment below and the mods will do their best to answer! + +Thank you. +Very curious to hear about the progress for people in this sub towards becoming FATfire’d. + +Personally would really like some clarity around what got you to each of the two milestones and errors made along the way. + +Thanks! +**Disclaimer:** I'm heavily simplifying a very complex topic for the sake of keeping this post brief. + +Folks, close your trading app. Take a deep breath. Relax. This is not the apocalypse. This is not the armageddon. + +Before I get into what's happening, here is a bit of perspective: Even with yesterday's selloff, NASDAQ ended at 13,533. I can't see what the index is like pre-market, but QQQ is down 1.35% as I write this. So let's assume it opens 13,350. + +That's still 280 points higher than the post-January selloff (low of 13,070). That's also still 462 points higher than December 31st (we closed at 12,888). In %, that's 2.14% and 3.58% higher, respectively. + +Now I know that a lot of you are trading on highly volatile stocks (looking at you, CRSR and PLTR), so obviously they are hit much harder than NASDAQ. That's the nature of the beast. Volatile stocks = large swings, both up and down. Welcome to the flip side. I have some of those in my portfolio, and also some defensive and cyclical stocks. It sucks to see my positions that were up by 350% now up by 300%. I know how you all feel. + +&#x200B; + +Now, what's happening? + +**Treasury yields are rising.** That's what's happening. There's obviously more to it (I.e.: vaccination seems to be going relatively well, Biden's stimulus, etc.), but that seems to be the catalyst. In fact, the 10-year yield rose to its highest level in the last year, at 1.37%. **That's a good thing:** Rising yields are a sign of economic recovery and increasing economic activity. It's a good thing. + +Why are yields rising if interest rates remain low? Because of one of the fundamentals of yields: As bond prices rise, everything else being equal, yields will drop. And the inverse is also true. As bond prices drop, yields will rise. And right now, bond prices are dropping. People are becoming more and more optimistic about the prospect of recovery, with Biden's stimulus and with the vaccination that is (once again, relatively) going well. So they are exiting "safe" investments with lower yields in favor of riskier investments with higher yields: junkier bonds, stock market and alternative investments. + +Wait, if rising yields are a sign of people exiting the bond markets to go towards the stock markets, why are prices dropping????? Great question, and my answer is twofold: (1) NASDAQ is not even in market correction territory, Chill. It closed roughly down 5% from all time highs yesterday. (2) Look at S&P500 and DIJA. DIJA is a winner in this, and S&P is barely phased. + +So back to my explanation, people are leaving bond markets for markets with higher potential returns, and the stock markets is one of them. Now, the reality is that rising yields are not always immediately good for markets, especially overheated markets like NASDAQ: This can spook a lot of investors and cause a selloff, which is essentially what's happening right now. This doesn't mean, however, that the apocalypse is upon us. Remember one of the reasons why the markets have skyrocketed so much in the last year: Actual interest rates, not yields, are near zero, and will remain near zero for the foreseeable future. This is crucial. New bond issuance will still have shit for yields, this isn't changing. + +&#x200B; + +**What should we do?** That's entirely up to you. I'm no financial advisor. I'm no expert. Take everything I say with a massive grain of salt. I'm no expert. But really, I'm barely doing anything. I'll be taking a page from Cathy's book: keeping a close eye on when this new craze slows down, sell some of my "safer, less impacted stocks" to raise cash and buy the ones that were hit hardest. +Remember when we said, “What if Robinhood started trading paper Bitcoin without holding actual Bitcoin?”. This is what happens when a dishonest company needs more capital fast and the chances of your RH BTC positions being non-collateralized have literally never been higher. Further, the chances of RH failing as a company have never been higher. + +Look into the faces of the young CEOs who made their fortunes by deceiving retail investors and selling them out via order flow. Do you really want to let these guys hold your BTC? + +For the next 24 hours I will personally answer any questions that any of you may have about liquidating your RH positions and getting into a real exchange or decentralized marketplace (like BISQ) + +Do the right thing because it’s also the smart thing and because you low key always knew you should have been +Hi all, + +Have traded stocks for a while now and have generally close to a 55% win rate with a 2:1 reward risk ratio. I swing trade approximately 15 stocks per month and hold them from 2 days- 2 months. + +Since I’m getting better and taking less time everyday to screen for trades, was thinking about day trading forex. + +Was wondering how different trading forex will be in terms of strategy, risk management and psychology, thanks in advance +YouTube is probably the best way to learn trading for free. I've spent thousands of hours watching videos on day trading. Some channels were quite useful while others not so much. Most YouTube channels will try to sell you on some BS course. + +I decided to compile a list of helpful channels. I haven't watched all the videos of all the channels (which would be impossible) but I've watched a considerable amount of their videos. A lot of channels I follow are Indian channels (Hindi) so I've excluded them from the list since it may not benefit trader from other countries. + +**Here's a list of channels that might be helpful-** + +1. Rayner Teo. +2. Adam Khoo. +3. Urban Forex. +4. The Trading Channel. +5. Pivot Call. + + +6. Humbled Trader. +7. Trade with Trend. +8. Wyse Trader. +9. Data Trader. +10. Trading Rush. + + +11. Zerodha Online (Hindi + English) +12. The Swedish Investor. +13. CA Rachna Ranade. +14. ELearn Markets (Hindi + English) +15. Trading 212. + + +16. The Chart Guys. +17. PR Sundar. +18. Booming Bulls (Hindi with English captions). +19. The Madras Trader. +20. [Vikrant Chaudhari](https://www.youtube.com/channel/UCv_jrs9S4b1_FG-ziGXCSYg) (My Channel). + +This is the list of all the channels. Personally, I think you don't need courses to learn. Just books + YouTube + Experience is enough. + +**YouTube alone isn't enough.** + +If all you do is watch YouTube videos, you probably won't be profitable. You need personal experience too. YouTube videos show you perfect examples. Live trading is much more different. Anyone can analyse charts when they've already been formed. + +Live trading also has the element of greed and fear. You can't learn that stuff from books or videos. I think that after a while you just need to practice. Videos get boring and the same and you get stuck. + +That's when live trading comes into play. When I traded in the live market I became more skilled. Most books and videos are theoretical and only practice helps you after that. + +This is just my list and my opinion. If you know some more helpful channels, let me know in the comments. + +-Vikrant C. +[https://www.digitimes.com/news/a20221115VL201/tsmc.html](https://www.digitimes.com/news/a20221115VL201/tsmc.html) + +&#x200B; + +Judy Lin, DIGITIMES Asia, Taipei + +Tuesday 15 November 2022 + +&#x200B; + +For the first time in his 91 years of life, US billionaire Warren Buffett has recently invested in a semiconductor stock. It is not any of the American semiconductor companies, but TSMC, a company on which many may want to reduce their reliance because Taiwan is the "most dangerous place on earth." What did Buffett see in TSMC to make this investment decision? + +&#x200B; + +According to Berkshire Hathaway's regulatory filing for its equity investments in the third quarter, it spent more than US$4.1 billion buying 60.1 million shares of TSMC's American deposit receipt (ADR). + +&#x200B; + +"When Buffett makes a move, he might have monitored the financial performance and the fundamentals of his target for more than 10 years. That is exactly the case with his investment in Apple," said Nobunaga Chai, special research consultant at the Photonics Industry & Technology Development Association (PIDA). Chai has worked as a senior semiconductor analyst in equity investment companies and independent research institutes. + +&#x200B; + +Chai went on to say, "As a value investing guru, Warren Buffett only picks the companies with optimistic long-term prospects, sound financial health and profitability, and relatively low price-earning (PE) and price-to-book (PB) ratios, and TSMC passed all of the tests when its stock prices fell through the floors in Q3." + +&#x200B; + +Berkshire Hathaway sold BYD before purchasing TSMC, while Apple remains the largest tech investment that Buffett made in Berkshire's US$362 billion equity portfolio, according to Reuters. + +&#x200B; + +As Buffett has been famous for his patience to make long-term and "snowballing" investments, does he not worry about the geopolitical risks where some say China is going to invade Taiwan and take over TSMC in this decade? + +&#x200B; + +"Obviously, Buffett won't do the investment if he sees that scenario to take place in at least 20 years," said Chai. + +&#x200B; + +Although many analysts interpreted Berkshire's decision to sell BYD and buy TSMC as a signal that Buffett sees better prospects in semiconductors than electrical vehicles (EV), Chai said it may not be necessarily so. "Valuation is the first rule of the game for value investing people. Buffett would not buy TSMC when its stock prices were too expensive, and he sold BYD perhaps because the EV and battery maker's stock prices have exceeded reasonable valuation." + +&#x200B; + +The fact that TSMC has been issuing stable cash dividends over the past 20 years and has maintained robust growth momentum despite the current cyclical downturn in the tech industries, may also have been the reasons that triggered Buffett's decision to buy the stock. + +&#x200B; + +Of course, Buffett is not always right about his investment decisions. His investment in IBM did not pan out, but his faith in Apple has been proven right, which is relatively strong in performance so far during the severe downcycle currently experienced by other smartphone and notebook companies. + +&#x200B; + +TSMC reported stellar performance for its third-quarter 2022 earnings, with a gross margin of 60.4%, operating margin of 50.6%, and net profit margin of 45.8% - results very few hardware manufacturers can achieve. "Very rarely does a company have all of the three pillars of competitive edge, namely - process technology, client structure, and ecosystem. But TSMC got them all," said DIGITIMES chairman and president Colley Hwang, at the US-Taiwan High-tech Forum (UTHF) co-organized by the North American Taiwanese Engineering and Science Association (NATEA) and DIGITIMES at Silicon Valley recently. + +&#x200B; + +"Our third quarter business was supported by strong demand for our industry-leading 5nm technologies," said Wendell Huang, VP and chief financial officer of TSMC during the third-quarter 2022 earnings conference call. "Moving into the fourth quarter 2022, we expect our business to be flattish, as the end market demand weakens, and customers' ongoing inventory adjustment is balanced by continued ramp-up for our industry-leading 5nm technologies." + +&#x200B; + +TSMC has warned that the biggest inventory adjustment of the industry will take place in the first half of 2023. Chances are Buffett must have taken that into consideration. +So it's common knowledge that the US printed more than [$3T dollars](https://www.livemint.com/industry/banking/lessons-from-the-fed-s-3-trillion-money-printing-11592322603528.html) to fuel the pandemic recovery. Love it or hate it, it directly contributed to the swift recovery of the global equity markets. + +However, shouldn't it have logically devalued the USD simply because there is just much *more* of it now ? + +I just Googled USD vs INR to see the long term trends but that has not happened at all. In May 2019 USD was around ₹70, currently it seems to have actually inched up north of ₹73. + +How is this happening ? Doesn't this go against common sense of supply and demand logic? Shouldn't dramatically increasing supply have brought down the price ? +Canadapennystocks to the moon. 🚀🚀🚀 +Follow the rules and you’ll have a fun time. + +*Canadian Penny Stocks was established Dec 14, 2020 and is a very new subreddit. This subreddit is strictly for the discussion of canadian penny stocks on canadian exchanges. Please read the rules so you know what belongs in daily discussion comments and what deserves a legitimate post.* + +***Update FEB 21* + +- loss/gain p*rn only on weekends + +***Updates FEB 8* + +- When submitting news article as post, MUST PROVIDE summary or have post taken down. + + +*First, what is a penny stock?* + +No solid definition. If it’s under $5/share and has a small market cap, then it’s a penny stock. + +*RULES TO FOLLOW* + +- Only Canadian penny stocks 🇨🇦. If it doesn’t trade on a Canadian exchange, don’t post it. + + +*NO LOW EFFORT POSTS* +- Either post them in Daily Discussion or post them somewhere else. +- *“What should I buy with $?” “Is xyz a buy?” “Buy XYZ!” “Buy XYZ + link”* are all low effort and will be removed +- Don’t ask about brokers. That is for r/personalfinancecanada or r/canadianinvestor And if you’re asking, wealthsimple is not the place to find penny stocks. +- No promotions. No links to discords, websites. Instagram or your own stock pick resource. This is not a business, this is a community. +- 🚀🚀 ISNT DD 😭😭😭 + +USE THE CORRECT TAGS + +- Due Diligence tag is for real due diligence you did yourself. Post minimum 3 sentences. Explain why you are invested in this position and what future growth it has. And provide a link to where you found your research. Provide your position. + +- Posting a catalyst also requires explaining why it’s a catalyst. Submitting news article as post requires provide summary or have post taken down. + +*BE NICE AND POLITE* +- Usually not a problem on this subreddit so congrats on that. If you want to say derogatory words please go to r/baystreetbets. + +*NO SPAM* +- Do not hit enter the same ticker constantly all over the subreddit. + +*CONSEQUENCES* +- Continuing to break rules will result in a ban of up to 10 days. Bullying is a permanent ban. + +Automod settings (subject to change): +Comment Karma 10 and age of 10 days +Been seeing more and more people asking what to do with their cryptocurrency so I thought it would be useful for people to know that this isn’t a sub about the Theta token. + +Edit: y’all are cracking me up with these responses. This is why I love this community +Hello together, I don't know if this is the right subreddit, but maybe you can help me (or point me somewhere): + +So I've gotten a Bachelor's degree last year in Economics and started a Masters. + +But I fucking hate it. What used to be a general dislike turned into full on hatred once the pressure of having no degree if I fuck up was gone. + +What do I hate about it? +Well, mostly the fact that all the jobs I could get (as far as I know) involve me sitting in front of a screen all day. Analysing stuff I don't care about to make money I don't need (well, I need money, but not that much). I used to be a lot more career minded, had some student jobs and internships at good companies in consulting (Big 4), banking, and technology. Hated it all. And looking into these people's faces - most of them didn't seem to be happy. Additionally, some experiences I had made me a lot more spiritual and to some extent dislike material pursuits. + +I don't know what to do. I'm 26 now, in my second semester. I'm paying my bills with my part-time job, but I don't plan to stay in Customer Service forever. + +Honestly, I liked doing research (that's what got my grades up to an good or acceptable level). But I don't want to slave away getting a PhD and being stuck in the ivory tower. + +I was thinking about staying in the master's and either get an internship while I'm still in it, or drop out and starting to work at some NGO (think more Oxfam and less IMF), union or something similar. Doing tangible things to help everyday people. + +Has anybody experienced anything similar? +Hey, high school econ student here. And this question is not meant to be much of an opinion topic (which is why I worded it the way that I did). I've been really into politics for a while and the minimum wage is a big question among both parties and whether or not it should be changed or abolished. I have mostly been a fan of the push for a $15 minimum wage, but I have to admit this has come from research and conclusions not drawn by economists. + +There are a few arguments that I have heard if from both sides, where the left says it is necessary to raise the base wage to a livable one, as wages have not kept up with inflation and more people live paycheck to paycheck, and the right says that raising the wage would only lead to an increase in prices along with layoffs and decrease in production. I have tried to use my knowledge from class to understand better, and have talked to and read on some experts, but I want to see how the aggregate of the econ world feels about this. + +I'm not asking for a personal opinion (as I think that is against the rules), but I would like to learn more and read up on some acclaimed research on the topic, specifically how an economist would evaluate both the arguments from the right and the left. +https://www.bloomberg.com/news/articles/2022-06-27/sam-bankman-fried-s-ftx-seeking-to-buy-robinhood-hood?srnd=premium + +https://www.reddit.com/r/ValueInvesting/comments/ve0jaz/robinhood_is_trading_significantly_under_book/ + + +This just goes to show how even some of the most respected members on this sub are sometimes blinded by their opinions. Most people on reddit hate robinhood. So they completely dismissed the notion it was worth anything, even when it was trading under book value and had 23M funded accounts. +I just want to say thanks to all the apes that check in on reddit to read read the DD, watch the memes and upvote good posts. + +You guys are the reason everything isn't crumbling. + +You can already see that the people who are too engaged are getting consumed by the whole situation and drama ensues. + +The silent apes are just as important in my eyes as the clever apes doing DD, because the silent apes are the ones reading and acting upon it without creating drama and tension. + + +So if you are a lurking ape then, **THANK YOU** . + + +Apes together strong! + + +**EDIT + +I just want to clarify that I of course am also grateful of the clever apes posting the amazing DD, It is some next level investigating that has and still is taking place. + + +**EDIT 2 + +I see some people are taking offense from this post and I just want to again clarify that I am not trying to say that people who are engaged in the community are less worth than the lurkers. + +I was just trying to say thank you to some of the people who aren't normally seen or heard from. +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!! +I see a lot of complaints online about boomers holding on to the majority of the wealth and the younger generations are getting shafted without a way to build their wealth. I find this (static view) hard to believe, as the boomers can't really take their wealth beyond the grave, and the younger generation will have to, by definition, acquire wealth that is passed on in due time. Is this not the case? Why are some millennials complaining when the boomer wealth simply \_must go somewhere\_ in a few decades? + +Assuming boomers cannot take wealth beyond grave, where do the money actually go? Is there a study of how wealth transfers across generation due to the passing of members of the older generation? Do they mostly get gobbled up by family, or government, or the real-estate market? Or is the wealth going to simply "pass through" the millennials from their inheritance straight to the debt collectors such as student loans? +What's up everyone. Here's an updated list of 'popular' stocks with high IV tickers and share price under $50 (for smaller accounts). + +Good luck to all! + +|Ticker|Market Cap|Stock Price|IV (%)| +|:-|:-|:-|:-| +|SNDL - Sundial Growers|2.57B|$1.56|232%| +|MARA - Marathon Digital|3.51B|$42.73|197%| +|AMC - AMC Entertainment|6.04B|$13.41|195%| +|TLRY - Tilray|4.72B|$27.74|165%| +|DGLY - Digital Ally|73.5M|$1.97|147%| +|NNDM - Nano Dimension|1.9B|$11.04|130%| +|CCIV - Churchill Capit...|6.1B|$29.45|129%| +|FCEL - Fuelcell Energy...|5.04B|$15.72|128%| +|SRNE - Sorrento Therap...|2.8B|$9.97|126%| +|APHA - Aphria|6.51B|$20.57|125%| +|CODX - Co-Diagnostics |383M|$13.55|124%| +|SOLO - Electrameccanic...|466M|$5.72|123%| +|BLNK - Blink Charging |1.41B|$39.12|120%| +|WKHS - Workhorse|2.08B|$16.98|116%| +|ACB - Aurora Cannabis|2.09B|$10.55|114%| +|FUBO - fuboTV|2.16B|$32.09|114%| +|BB - BlackBerry|6.55B|$11.58|114%| +|PLUG - Plug Power|18.4B|$39.02|104%| +|RIG - Transocean|2.6B|$4.24|102%| +|PSTH - Pershing Square...|5.43B|$27.06|101%| +|SPCE - Virgin Galactic|7.99B|$33.88|97%| +|CLOV - Clover Health|3.85B|$8.73|96%| +|RKT - Rocket Companie...|2.83B|$24.50|96%| +|NKLA - Nikola|6.42B|$16.41|95%| +|CRON - Cronos|3.68B|$10.22|94%| +|BBBY - Bed, Bath & Bey...|3.73B|$30.81|94%| +|LAZR - Luminar|6.02B|$27.64|94%| +|HOME - At Home|1.93B|$29.96|93%| +|APXT - Apex|473M|$13.21|92%| +|HYLN - Hyliion|2.32B|$13.70|87%| +|PLTR - Palantir|43.9B|$25.29|83%| +|HUYA - HUYA|6B|$25.37|83%| +|CGC - Canopy Growth|13.4B|$34.98|80%| +|XPEV - XPeng|17.6B|$36.13|79%| +|NIO - NIO|69.8B|$44.80|78%| +|X - United States S...|5.92B|$22.02|77%| +|CCL - Carnival|31.9B|$28.88|77%| +|FROG - JFrog|4.38B|$48.16|75%| +|CRSR - Corsair Gaming |3.14B|$34.19|74%| +|UPWK - Upwork|6.1B|$48.81|72%| +|PRPL - Purple Innovati...|2.1B|$31.52|72%| +|CNK - Cinemark|2.86B|$24.11|71%| +|NCLH - Norwegian Crui|6.53B|$30.30|68%| +|COTY - Coty|7.01B|$9.14|68%| +|AAL - American Airlin...|16.1B|$25.14|64%| +|OXY - Occidental Petr..|27B|$28.89|64%| +|SAVE - Spirit Airlines|3.87B|$39.49|63%| +|LL - Lumber Liquidat..|742M|$25.87|63%| +|NOK - Nokia|24.3B|$4.29|62%| +|M - Macy\`s|6.09B|$19.82|62%| +|DBX - Dropbox|9.27B|$27.99|56%| +|IQ - iQIYI|18.9B|$26.10|55%| +|PBR - Petroleo Brasil...|37.1B|$8.46|55%| +|CLDR - Cloudera|3.98B|$12.73|55%| +|FEYE - FireEye|4.86B|$20.52|52%| +|F - Ford Motor Co.|49.4B|$12.66|51%| +|ICLN - Global Clean|5.48B|$24.21|51%| +|HAL - Halliburton Co....|20.7B|$23.32|51%| +|MGM - MGM Resorts|20.4B|$41.05|49%| +|DISH - Dish Network|20.5B|$38.93|48%| +|GPS - Gap,|11.8B|$31.62|48%| +|ZNGA - Zynga|10.9B|$10.07|44%| +|TEVA - Teva- Pharmaceu...|12.8B|$11.66|43%| +|UAA - Under Armour|9.29B|$22.95|42%| +|VALE - Vale S.A.|92.8B|$17.60|42%| +|GE - General Electri...|119B|$13.53|41%| +|FOXA - Fox|24.6B|$42.55|41%| +|DB - Deutsche Bank|26B|$12.60|38%| +|GOLD - Barrick Gold|37.6B|$21.25|37%| +|WFC - Wells Fargo|164B|$39.55|36%| +|ALLY - Ally Financial|17.4B|$46.67|36%| +|BP - BP plc|89.8B|$26.46|35%| +|PCG - PG&E|23.4B|$11.77|32%| +|BAC - Bank Of America|327B|$37.90|31%| +|BK - Bank Of NY Melon|40.7B|$46.38|30%| +|HPQ - HP|38.3B|$30.74|30%| +|WMB - Williams Cos|28.4B|$23.41|28%| +|HSBC - HSBC|121B|$29.89|27%| +|KR - Kroger Co.|26.8B|$35.27|26%| +|MO - Altria|92.4B|$49.71|22%| +|T - AT&T,|215B|$30.01|21%| +|CSCO - Cisco Systems|208B|$49.27|20%| +|PFE - Pfizer|200B|$35.84|19%| +|WORK - Slack|20.4B|$40.80|18%| +|GLUU - Glu Mobile|2.17B|$12.44|11%| +Every other comment right now is a shill lamenting the stupidity of everyone who’s still holding or how sad it is the big guy won again or some other gloomy horseshit. + +To all of you who are out there who’ve ever thought “oh man, if I’d only bought X stock X years ago I’d be rich!” - if you aren’t holding right now, you’re wrong. + +I’m an actual investor, not a swing/day trader (I know, gay) and I went all in on TSLA back in 2019, so I had days where my account would lose 20% of its value. Weeks where it would lose half. I didn’t sell a share as it went from $960 to $330 pre-split. Nor the $460-$300 drop post-split. These are just a few examples. + +I bought GME because in a worst case scenario some crazy illegal shit happens and I now have a long term position in a solid company. I covered my cost basis in tranches on the way up and now I’m holding the remaining 300 shares with house money. If it’s too late for you to do that, take it as a lesson for next time. What was Melvin’s mistake? No actual hedging. Don’t be a Melvin. . + +A good investment requires holding 9/10 times. The overnight million dollar plays are very rare, because they take a higher ratio of luck than confidence. This shit is a lot like dating - your confidence won’t help if you’re making shitty picks, but your good picks will never pan out without confidence. $GME has my confidence- the numbers are in our favor. And so, I hold. And I sleep like a baby at night. I have 300 shares, and I’ve lost a nauseating amount of money the past two days. + +But I don’t give a fuck. + +Hold, relax, forget about it. We own the stock, we aren’t the ones bleeding interest. As much as the hedges have their cheating, we have nuclear bombs too- one whale, one great piece of news, one exercising of stock options by a certain Ryan Cohen... I could go on. + +It’s not a sure thing, but anyone acting like we’re in dire straits probably didn’t comprehend what was going on in the first place. Just shut the fuck up and hold. Do you want to be the “Golly I could’ve had Apple 20 years ago!” guy for the rest of your life, or do you wanna be the strong motherfucker who actually took the leap? +We have been over saturated with posts/comments of such that would be found in WSB. Can we not ruin this sub as well by allowing low quality shit posts and comments telling everyone to jump on the train? I congratulate everyone who was able to profit but too many people on here are now having fomo. + +Edit: since everyone is so bothered, this is directly related to the level or maturity in the posts. There is a clear difference between this sub and WSB. Discussions are completely acceptable but keep it mature and don't just post low efforts posts with no insight other that "lets do this together retards." +A lot of people on here seem to be invested heavily in RE. I am just curious about the reasoning. There are easier ways to diversify with RE (e.g., REITs, homebuilder ETFs). No tenant issues, no dealing with contractors. Also, the return seems about in line with the market. I was considering getting a property in a different part of the country as a second home, but reading some of the experiences here turned me off. + +Legitimately curious why and what am I missing? Are people taking depreciation for tax efficiencies? +I don't want to sound all doom and gloom but the more I read the news and learn about the economy (I am an engineer by education), the more pessimistic I am about the future of our kids. + +We have more than 1 year of almost double-digit inflation in the EU, the EUR/USD exchange rate went down from 1.15 to almost 1 since the beginning of the year, and the housing crisis is worsening. All of this according to my layman understanding of how economy works means that: + +1. People's savings took a big hit and lost a lot of value the last year alone +2. The building materials went up, which means that even less affordable housing complexes would be built this year, as most of the investors would either slash their building projects or proceed with only the luxurious ones, where the margins are much bigger and considered safer bets +3. Real Estate in Europe became less attractive to the general population because of the increasing interest rate of the mortgages and shrinking purchasing power but more affordable for investors with cash on hand, especially foreign investors, for example in the US and depending on the specific country's policy, might additionally worsen the housing crisis. +4. Energy and food prices are through the roof, which will put a lot of pressure on the low and middle-income earners +5. All of this while the income of the majority of the population didn't increase, we are talking about probably more than a 10% hit on their disposable income and their savings + +I am fully expecting this autumn/winter to have huge strikes disrupting, even more, the economy and governments across Europe and I genuinely wonder how our kids would be able to purchase let's say a flat or a house without inheriting the said house/flat or inheriting a big pile of cash. + +Especially seeing how the whole economy is moving towards a subscription-based economy for more and leaving us with even less disposable income at the end of the month. Kind of Orwellian reality. + +Am I the only one having those dark thoughts? +Curious as to what all the trolls think ethereum is worth longterm. Please provide some insight as to why you're bullish or why your bearish. +TROLL AWAY +Hi guys, + +I've posted in here before, but my name is Emma. I'm a reporter for VICE News covering poverty and civil rights. I'm watching all sorts of bill payments, but I understand a lot of folks are really worried about eviction amid COVID-19 because how sudden the consequences are in many states. A lot of civil rights advocates right now are fighting for both suspended mortgage and rent payments, considering how many folks could lose pay (and their homes) during this outbreak and all its resulting economic turmoil. I know we're not at the first of the month, but if this applies to you and you're worried, reach out. You can PM, post here, or email [emma.ockerman@vice.com](mailto:emma.ockerman@vice.com) and I'll get in touch. +>The fed­eral and state gov­ern­ments have had a good pan­demic, en­joy­ing the gusher of tax rev­enue and fed­eral largesse. But those fat years are about to end, and the po­lit­i­cal class in most places isn’t ready for it. + +> The lat­est ev­i­dence came this month in the fed­eral rev­enue news for Oc­to­ber and No­vember, the first two months of the 2023 fis­cal year. Rev­enue rose only 1%, in con­trast to an 21% in­crease in all of fis­cal 2022. In­di­vid­ual taxes rose 4% but cor­po­rate tax rev­enue fell 6% and other rev­enue fell 21%. + +> The lat­ter in­cludes Fed­eral Re­serve re­mit­tances from in­ter­est on its bond hold­ings, which fell to $1 bil­lion from $15 bil­lion, ac­cord­ing to the Con­gres­sional Bud­get Of­fice. Those re­mit­tances will turn into deficits as the cen­tral bank pares its bond port­fo­lio. + +> State rev­enues are also headed for an ad­just­ment, es­pe­cially in cap­i­tals that built in new struc­tural spend­ing oblig­a­tions dur­ing the pan­demic. Cal­i­for­nia, that means you, and Sacra­mento now faces a $25 bil­lion deficit. The New York state comp­troller is also warn­ing about po­ten­tial deficits, as fed­eral pan­demic aid winds down and tax rev­enue falls. + +> One irony is that high-tax pro­gres­sive states have ben­e­fit­ted in par­tic­u­lar from the cap­i­tal-gains in­come of the high earn­ers they claim to de­spise. But cap­i­tal-gains rev­enue is sure to plunge given the enor­mous de­cline in stock prices this year. Cor­po­rate tax rev­enue is also likely to slow as earn­ings are un­der pres­sure. + +> All of this was predictable since the good times were kept afloat by easy money and a highly progressive tax code. Federal tax receipts as a share of GDP hit a near record 19.6% in fiscal 2022, and Congress spent like it would never end. Well, it always does, and that is before the widely predicted recession in 2023.     +>The Federal Reserve, saying “the coronavirus outbreak has harmed communities and disrupted economic activity in many countries, including the United States,” cut interest rates to zero on Sunday and launched a massive $700 billion quantitative easing program to shelter the economy from the effects of the virus. + +https://www.cnbc.com/2020/03/15/federal-reserve-cuts-rates-to-zero-and-launches-massive-700-billion-quantitative-easing-pr +**Disclaimer:** I'm heavily simplifying a very complex topic for the sake of keeping this post brief. + +Folks, close your trading app. Take a deep breath. Relax. This is not the apocalypse. This is not the armageddon. + +Before I get into what's happening, here is a bit of perspective: Even with yesterday's selloff, NASDAQ ended at 13,533. I can't see what the index is like pre-market, but QQQ is down 1.35% as I write this. So let's assume it opens 13,350. + +That's still 280 points higher than the post-January selloff (low of 13,070). That's also still 462 points higher than December 31st (we closed at 12,888). In %, that's 2.14% and 3.58% higher, respectively. + +Now I know that a lot of you are trading on highly volatile stocks (looking at you, CRSR and PLTR), so obviously they are hit much harder than NASDAQ. That's the nature of the beast. Volatile stocks = large swings, both up and down. Welcome to the flip side. I have some of those in my portfolio, and also some defensive and cyclical stocks. It sucks to see my positions that were up by 350% now up by 300%. I know how you all feel. + +&#x200B; + +Now, what's happening? + +**Treasury yields are rising.** That's what's happening. There's obviously more to it (I.e.: vaccination seems to be going relatively well, Biden's stimulus, etc.), but that seems to be the catalyst. In fact, the 10-year yield rose to its highest level in the last year, at 1.37%. **That's a good thing:** Rising yields are a sign of economic recovery and increasing economic activity. It's a good thing. + +Why are yields rising if interest rates remain low? Because of one of the fundamentals of yields: As bond prices rise, everything else being equal, yields will drop. And the inverse is also true. As bond prices drop, yields will rise. And right now, bond prices are dropping. People are becoming more and more optimistic about the prospect of recovery, with Biden's stimulus and with the vaccination that is (once again, relatively) going well. So they are exiting "safe" investments with lower yields in favor of riskier investments with higher yields: junkier bonds, stock market and alternative investments. + +Wait, if rising yields are a sign of people exiting the bond markets to go towards the stock markets, why are prices dropping????? Great question, and my answer is twofold: (1) NASDAQ is not even in market correction territory, Chill. It closed roughly down 5% from all time highs yesterday. (2) Look at S&P500 and DIJA. DIJA is a winner in this, and S&P is barely phased. + +So back to my explanation, people are leaving bond markets for markets with higher potential returns, and the stock markets is one of them. Now, the reality is that rising yields are not always immediately good for markets, especially overheated markets like NASDAQ: This can spook a lot of investors and cause a selloff, which is essentially what's happening right now. This doesn't mean, however, that the apocalypse is upon us. Remember one of the reasons why the markets have skyrocketed so much in the last year: Actual interest rates, not yields, are near zero, and will remain near zero for the foreseeable future. This is crucial. New bond issuance will still have shit for yields, this isn't changing. + +&#x200B; + +**What should we do?** That's entirely up to you. I'm no financial advisor. I'm no expert. Take everything I say with a massive grain of salt. I'm no expert. But really, I'm barely doing anything. I'll be taking a page from Cathy's book: keeping a close eye on when this new craze slows down, sell some of my "safer, less impacted stocks" to raise cash and buy the ones that were hit hardest. +Mods. FatFIRE community. + +I’m going to be borderline cruel and candid with my thoughts in this post. + +In October 2019 this sub had 50k subscribers. Today it has over 160k. Most of those newcomers are nowhere near FatFIRE and clearly not on their way there. Most of them will also never ever reach FatFIRE in their lives, sans winning a lottery. It’s time to talk about the state of the sub (yet again). + +Why is the influx of newcomers bad for the sub: + +* They change the course of the discussion +* Worthless contributions +* Ascribing more importance to posts/ideas through up/downvotes that are clearly anti-fatFire +* Increase in LARPing + +The speed at which the discussion on this sub has deteriorated in the past 6 months is absolutely staggering to me. + +I do not care to hear from someone making 50k or 100k. I simply don’t. They live on a different plane, have vastly different needs and budgets. I don’t care if they aspire to be fatFired, all people dream of wealth. But this is not a place for them, they have r/fire and r/chubbyfire at their disposal. + +**Examples** of troubling comments/posts that received support here but have no place on fatFire: + +* [After first 2-3 millions, a paid off home and a good car, there is no difference In qualify of life between you and Jeff Bezos](https://www.reddit.com/r/fatFIRE/comments/mkzt1f/i_have_a_secret_to_share_shhhhh/) – patently false and written by someone who doesn’t understand the purchasing power of 100M, let alone billions. Commenters pointed out why. +* [I don't have enough money to retire so I'll have to get a job \[and may be\] working at age 65](https://www.reddit.com/r/fatFIRE/comments/lmcktr/fatfire_is_for_suckers_i_decided_to_file_live/). But sure, [FatFIRE is for suckers](https://www.reddit.com/r/fatFIRE/comments/lmcktr/fatfire_is_for_suckers_i_decided_to_file_live/)! – please tell me how anyone on the fatFire path would upvote this. Yet with 1.9k upvotes this is one of the top threads from last year +* [I absolutely hate it when people post and others respond "you aren't 'fat' enough to be fatFIRE, go post somewhere else. The person making that post may have been saving every penny they have earned for 30 years.](https://www.reddit.com/r/fatFIRE/comments/ll2u8y/state_of_the_sub/gnp6dgg?utm_source=share&utm_medium=web2x&context=3) – classic example of how the subs dilution turns this sub into another generic “room for everyone” FIRE sub. Plenty of other subreddits focused on normal FIRE but no, we have to re-fit this sub to everyone who saved for 30 years and was only able to put aside a million. + +I can post loads of other examples, but in short, we need more posts like this [frank AMA from a wealth advisor](https://www.reddit.com/r/fatFIRE/comments/mhxhsq/ama_i_am_a_wealth_advisor_to_high_net_worth/) and much less posts about reaching [400k](https://www.reddit.com/r/fatFIRE/comments/k8jkep/just_hit_400k_25_m_380k/) or [1M](https://www.reddit.com/r/fatFIRE/comments/l2i0ke/cant_sleep_became_a_millionaire_yesterday/) milestones. + +My suggestions, and I hope fatFire folks will add more: + +1. **Bans**. This is of the utmost importance. + +* · I firmly believe this sub will be lost unless we start not only removing content that’s not fatFire-related but also makes it clear such content is unwelcome here. +* · Examples from actual comments: “I’m only a student but..”, “In my early 30s with 1.5M NW, half of which is in the house we inherited..”, “Lurker but not close to fatFire, I think…” +* · All of the above should result in a ban, I’d prefer permanent but at least temporary would be a great start + +**2.** **Stop with ‘bending the rules’ for popular posts.** + +* · It creates a perpetual cycle where this sub upvotes and then creates more off-topic threads +* · Don’t lock them. Remove them, and ban offenders (temporarily or permanently) + +**3.** **Report, report, report.** + +* Mods have been doing a terrific job guys. But it’s also on us to report stuff that’s clearly anti-fatFIRE or irrelevant. + +Partially inspired by [this old dog here](https://www.reddit.com/r/fatFIRE/comments/mpg76p/on_the_internet_nobody_knows_youre_a_dog/). + +&#x200B; + +EDIT: some prime examples of comments from people nowhere near FIRE who get tons of upvotes here because I am not fat enough in their opinion to comment on the state of the sub: + +* u/headpsu: "I drive a used Toyota, live in a fixer-upper I’m slowly renovating myself" in Pittsburgh. Funny this person would talk about who is allowed to comment while openly admitting he's "[not fat yet](https://www.reddit.com/r/fatFIRE/comments/m85uvg/when_shall_i_fatfire/grg0x7a?utm_source=share&utm_medium=web2x&context=3)" himself. +* u/gilglou is a student living with her parents: "[I’ve considered myself a functional stoner for years... For the past few weeks I have stayed with my parent’s and quit cold Turkey](https://www.reddit.com/r/leaves/comments/ke9urd/i_still_smoke_daily_but_still_find_myself_on_this/gg1eraa?utm_source=share&utm_medium=web2x&context=3)" + +I would also echo something raised by non-Fat people: lower content quality affects us all equally. Whether you're a lurker or contributor we all benefit most when the discussion focuses on the quality. I'm happy to go back to lurking if that's what it takes to raise the bar of the discussion and exclude people below a certain NW number, etc. + + +Smell that? You might remember it from your mom’s house or off the girl you’ve been dreaming about. That’s the smell of someone who brings in generational wealth for all their bros and brolets by actually having the fucking balls to get shit done. + +While you loser cucks are sitting with your thumb up your ass pretending to understand how to buy and sell during shitcoin mania, the one TRUE Chad token has launched leaving you to sit and cry wondering why your bitch ass didn’t make it. + +When you’re done wallowing in self-pity like a fucking dipshit, smack yourself awake and pick up some CHAD token. Check out the fucking website and the Chadpaper and **tell me this isn’t going to go another 100x from here.** + +You won’t. + +Whenever you’re done shitting your pants thinking about how much fucking money you’re going to blow on coke and escorts every night, make sure you join the TG and see just how many stacklets are gathering together to create Chad buys after Chad buys after Chad buys. + +**Imagine the Chad army once its busy raiding wet napkin cuck tokens, and shilling non-stop to feed their starved no-coin villages.** + +**Listings are coming for the bulls and audits are coming for the nerds**, cause Chad’s will take your money no matter who the fuck you are. Just make sure you don’t sell your CHAD otherwise **you’ll get tagged with ESTROGEN airdrops** to let all your bros know what a fucking loser you are. + +So why the fuck are you still reading, nerd. Stop being a stupid virgin loser, get that sand out of your vagina, and hurry up to get some CHAD before you stay a complaining little bitch forever. + +And don’t even try to bring that FUD shit here. We. Will. End. You. + +[THE FUCKING WEBSITE](https://www.thechadtoken.com/) + +[BUY FUCKING NOW](https://exchange.pancakeswap.finance/#/swap?outputCurrency=0xea8eacce22bbb89709482c0100e75e7ab90f53f4) +Long story short: I was completely convinced of ZIP's upside and threw the kitchen sink at it. + +I bought it in small parcels, up and down, over the entire course of the pandemic. I'm still holding but I'm now down over 80% or over $40,000. At one point my holding was worth nearly $80k, now it is worth around $5k. + +Additionally, I had to pay over $5k in CGT last year because I had locked in gains before reinvesting them. So it's no exaggeration to say I lost 100% of my investment. + +I can't provide a convenient screencap of proof because the ticker changed, but I can show a mod my trades if need be. + +Anyway, that was literally my life savings. So this is just a PSA to keep an emergency fund and maybe diversify at least a little. Thanks for coming to my TED talk. +As the pandemic appears to be easing, at least in the UK, there is much talk of ‘opening up’ and ‘revival’. This may be the case for some industries, but the world (and perhaps the markets) are largely ignoring the rumbling crisis in global shipping that took root last autumn and shows no signs of improvement. + +I run a business that imports containers of freight from the Far East into the UK each year, here is what I’m seeing: + +Throughout 2019 we were paying around $1750 for ocean freight from our most used Chinese port into the UK. **This rate is now in excess of $10000.** This shows few signs of [improvement](https://en.sse.net.cn/indices/scfinew.jsp). If you sell cheap items that take up a lot of space in containers that has huge ramifications for product cost. It’s easily possible that item price may double or more just because of increased shipping cost alone. + +The Suez issue in March isn’t to blame per se, but didn’t help. In April over half of our planned shipments were cancelled or delayed. Shipping lines are operating around 10% ‘blank sailings’ (where the whole sailing is cancelled), where there is a successful sailing it is hugely capacity constrained and historical ‘guaranteed space’ contracts with shipping lines are just being ripped up. There is also a huge shortage of physical containers to load stock into. + +**In my opinion many retailers will find that a large amount of their stock will not arrive this Christmas.** I’m sure many suppliers are not yet making customers aware of this possibility. The issue is that the capacity problems don’t just create a short term issue, they create a huge global backlog. When so much consumer spending is seasonally tilted to Q4 each calendar year this situation just doesn’t work, everything breaks. If Christmas stock arrives on December 26th it’s pointless. The supply/demand situation in shipping has no chance of returning to any sort of ‘normal’ this year, so stock will just not arrive on time in many cases. + +**What does this all mean? The obvious result is high inflation of consumer prices on many imported goods.** The official inflation predictions do not match my live experience. + +There is a desperation from retail to regain lost sales caused by the pandemic. Not only are sea freight rates unfathomably higher than before, but because retailers are so desperate to make up for lost sales it has meant that production areas in the Far East are having a bumper year of huge orders, with demand pushing item prices up (in our case) 40%-50% for stock and end customers (the retailers) left with no choice but to accept increases, often in our case with no clear picture of what the final cost will be (the delivered price we quote currently includes a ‘variable’ shipping rate to be stated at the time of shipment, whenever that is). I’m having conversations that effectively go: + +Customer: ‘We’re relying on this stock to help us bounce back from covid, we’ve been closed for months and footfall is minimal’. + +Importer: ‘Ok, we’re going to have to charge you 50% more than last year, plus a shipping supplement, and we don’t know when it will arrive’. + +Customer: ‘Well, we have no choice…’ + +Order your Christmas presents now! What does this mean for the markets? Who knows, but everyone seems to be largely turning a blind eye to an issue that’s already gone too far to prevent. +A pretty good segment with Chamath Palihapitiya who apparently took a $100k call position in GME "to learn". + +[https://twitter.com/chamath/status/1354089928313823232](https://twitter.com/chamath/status/1354089928313823232) + +&#x200B; + +The bottom line was that Chamath was pushing the point that Hedge funds have had the advantage until now, but with social media being where it is, a bunch of retail investors with a cellphone can take the other side of a trade and be effective at it. + +&#x200B; + +I felt that Scott Wapner was pushing for him to admit that GME is horribly mispriced, which it really is on massive scale, but Chamath did not give him that, instead pushing the narrative that the hedge funds being 200% short the float is what is really wrong and the time has come where retail traders are leveling the playing field. + +This is indeed a watershed moment in the markets, things are not going back to where they used to be. + +I am really concerned that the SEC is going to take some unfair action like they did back in 2001 when they decided you need $25k minimum to daytrade. +this post was posted and meant for r/financialindependence + I don't mean it to be on r/all.Stop reading if you are not from any of the FIRE groups. +---- + +As a FIREer, what is going for us is that majority of us who are more than half way there own large assets in stock market. I think a lot of us belong to the top 10%. + +As the world plunges into chaos and unemployment is at sky high, a lot of us FIREers are making seriously good money in the stock market. If you re heavy on NASDQ index or FANNG stocks, you are killing it. + +Does it ever cause a bit guilt in you that you are fairing so much better than the 90% population? That you don't even need to work and your portfolio is pulling in more money than average household income? + +I do. I feel guilty. I work in asset management and I feel the whole stock market is so rigged that it's a way for the rich to enrich themselves. One of my mentors once told me that if you want to be rich, you own assets and businesses and hire others to do the work for you. One day, you will be making money while you are sleeping. I've dreamed to get there one day like him. And I did. But I have tremendous amount of guilt that I don't do shit and I make 6 figures a year just by sitting on FANNG and other Tech stocks. + +Edit : Thx to kohox’s comment. Everyone should watch this video that really exposed how severe the America inequality has become. You should feel angry. + +https://www.youtube.com/watch?v=QPKKQnijnsM + + +Here is the article as who own the stocks in America. +\[Edit\]: Moderator has asked me to remove the link so I will just show you the keywords to search. If you want to read it, just search for it. "how america 1 came to dominate stock ownership" + +Edit 2: If there is still anyone reading this. I was assumed to be 1) white 2) a man. That tells you the problems of this country. Just think about it. +I made a statement in the daily thread that if the stock reached $200, I would put a watermelon in my anus. I watched in horror as the stock I liked soared from about $170 to over $215, a price it had not seen in weeks. ^(Is ^this ^the ^catalyst?) + +After careful consideration and measurements, I have come to the conclusion that fulfilling this bet would cause severe trauma for both myself and the watermelon. + +I had hoped that my bet would be forgotten about but as we have all learned over these last 7 months, Apes never forget. + +I cannot give you all what you ask of me, but I can give you justice. + +I will change my flair to whatever suggestion gets the most upvotes, and I also won't contest a ban from the mods. + +I wish you all good fortune in the weeks to come, it's been a fun 7 months. Stonks only go up (unlike watermelons) + + + +**TL;DR** no melon, no cry. + + +**TA;DR** 🚫🍉⬆️🍑 +My colleagues are always talking about investing in real estate. + +Talking about "property" for investment is the only option for them. + +I on the other hand have been investing in mutual funds and stocks for a long time. + +&#x200B; + +How do you convince people to consider looking into Investing in other instruments? +**TL;DR**: Worked at FAANG company, went permanent remote in 2020 thanks to the pandemic, moved from Bay Area to Research Triangle, NC and as of recently I’ve resigned / FIREd (30s, $5M, engineering management). This Reddit group has been very helpful. There are plenty of posts on financial optimization of FIRE but in the spirit of giving back here are a few non-financial tips I’ve learned over the past few years in preparation for FIRE. + +**MINDFULNESS** + +Learn the basics of breathing exercises and use this as a way of managing stress and staying focused on what really matters (last thing you want to do is FIRE and then worry about your neighbors lawn as opposed to your life long dream). + +**Train yourself to not watch the market** + +Checking the market daily is an addiction and can inspire emotional decisions. Recognize watching the market daily lacks any merit as a long term investor. Uninstall stock market apps and make a point of checking the market once a week max and get back to focusing on your true purpose. + +**Stuff** + +Just because you can easily afford it doesn’t make it free. Eg A friend just bought a $80k car and on day two it got a dent. Now she’s worried about the dent and spending a substantial amount of mental energy on it. A used car would never require this mental focus. Be careful to not let stuff cost your time and focus. Time is now your largest commodity. + +Additionally, stuff is primarily for ego and when you have FIREd it’s rather easy and productive to be humble ( “fake it until you’ve made it.. But now you’ve made it so why are you still playing the part?”). If you are finding it difficult to make great friendships, it may be largely due to not being authentic and humble. Get rid of stuff and focus on experiences, hobbies and you will be far more inspiring for genuine friendships. + +**YOUR FINANCES SHOULD BE PRIVATE (with the exception of a public Reddit group apparently)** + +**No one cares** + +There seems to be an obsession in this group about what you will tell your neighbors. I’m the only Dad who is at the bus stop daily. I go to the gym at 10am with the college kids and retirees. Everyone is way too busy to care. People never ask about that. Just “how was your trip/weekend/hobby/kids?”. + +**What do you say when they say “what do you do for a living?”** + +Remote work is a great FIRE cover. I just say you work mostly remote in tech. 99% don’t ask any additional questions. For the 1%: In my spare time I happen to research science for personal goals so I just explain a little about my research and don’t get into business logistics. + +**Don’t talk about FIRE** + +If I was going to guess, though I’ve never tried, trying to explain FIRE to neighbors is received as well as selling them the newest MLM scam. Just don’t talk about money. When someone tells you they are doing amazing at job X, just lightly congratulate them and ask what they do for fun. You’ll appear humble and you’ll start a genuine friendship as opposed to a “what can I get from you” quest. + +**Family** + +I get that it’s harder to hide details from family. In my case, I’m taking an extended period off to do private research and focus on family. Presuming you’ve got to Chubby/Fatfire tiers they should respect that you can make reasonable decisions. The truth is none of us can predict the future and this is fair. Don’t talk about money/don’t explain it/it’s just your decision (there is never a right amount, you are either too rich and should help person X or too poor), now what side are they making for the holiday’s dinner? + +**SOCIAL LIFE** + +**Create new stories** + +We all know that guy who still talks about his high school days and how amazing he was. Don’t be that guy about your ex-job. No one cares that you were the CTO of some major corp. If you want genuine friendships, talk about what you did this week / future goals / current passions. + +**Get fit** + +Your health will likely run out before your money. Invest proportionally. Also sports (including hiking etc) are excellent social outlets. + +**Stop selling yourself** + +A big part of business is networking and selling yourself. In FIRE you don’t have to do this. Intentionally talk about hobbies, passions, personal goals and genuine friendships will follow. + +**Make sure you are retiring to something** + +As often quoted many people are retiring away from a job. Knowing what you are retiring to is key. This can be passive (enjoying national parks, music, art) and/or active (creating science, contributing to charities and beyond). Don’t pressure yourself to know the full story but have a plan for the first six months and be open to it morphing. + +**Final Thoughts** + +Read Man’s Search For Meaning by Viktor Frankl - ““Everything can be taken from a man but one thing: the last of the human freedoms — to choose one's attitude in any given set of circumstances, to choose one's own way.”” + +Original post: https://www.reddit.com/r/fatFIRE/comments/jzodth/moved\_from\_hcol\_to\_lcol\_during\_covid\_thanks\_to/ +That has to be the biggest and quickest rugpull in history right? + +We all knew squid game was a scam as well as a rugpull and even more fucked that people couldn’t take profits at all at any point and whatever the deal with winning games to get the tokens for gas fees was. The whole thing was fucked. + +But still please anyone correct me if I’m wrong but I don’t think anything else I’ve ever seen has dropped that much if it’s percentage in such a short time? + +I’m sorry for any of you who’ve bought that token hoping to make a quick buck. I hope it was a relatively cheap and valuable lesson about crypto and these random tokens that pop up out of no where. + +Edit: looked at the charts a little closer and it actually happened in 5 minutes. +Hummus is my favourite food in the world, and I think it will eventually outsell all other spreads and dips. How the hell do I invest in this shit? Chickpeas? I dunno. Googling just brings up recipes and stuff. +It seems logical to me to get this debt off of my back as quickly as possible so that I can start to save/invest my money, but of course I could be wrong about that. + +My job will pay a salary of about $80k per year. + +Edit: People keep asking just what my job is. I’m an airline pilot, First Officer. +I am about the pull the ripcord on my career on Monday--I am about 50. + +After the 1-year notice period, assuming no other arrangements are made that alter the timeline, I will go from making about $2.5M+ per year to living off of my accumulated investments which, obviously, generate far less per year. But, they are enough. + +I phrase the question above because I think the concept of **time** relative to wealth is sadly missing in most of the threads on FatFIRE. I think part of being FatFIRE is actually enjoying wealth when you're young enough to do so (that's the RE in FIRE) and not merely accumulating as much as possible and dying at your desk. + +This message is for those who are on their way up, in aggressive accumulation mode. Give this concept some thought, and feel free to tell me that I am wrong. But think about it. + +EDIT: To those doing the math trying to figure out which choice is mathematically superior, you’re missing the point (the answer is $10 million, BTW). Instead, make the second choice $500 million rather than $50 million, or $1 billion even; but the nub of the issue is whether—once you’re clearly FAT—it makes sense to trade time/youth for even more money assuming you’d like to do something else with your life than make money/work. + +If working and accumulating more is really your jam—and you’re not just doing it because you’re scared, unsure of yourself, lost, etc—then fine. But, if you think there may be more to life than your career, perhaps this is worth some thought. + +Walking away from $2.5M+ per year isn’t easy and I’ve lost count of all the messages I’m getting asking me what I do to make that money. Those people understandably envy that kind of earning potential, but the answer really won’t help them and it distracts from what I’m saying. +Title says it all. + +Tesla's earnings in the first quarter were $438 million. + +$101 million (23%) of that came from selling Bitcoin for profit. + +The other interesting part is that it would have been an earnings miss without the trading. + +Did one make the other happen? + +Considering the recent news about not allowing Bitcoin anymore, it's certainly a move worth mentioning. + +As highlighted by Scott Galloway: https://twitter.com/profgalloway/status/1393232146681286664 +So if you're recently graduated, unemployed, or have another life event don't be surprised to see a $12 a month "account maintenance fee" if your account has a penny under $1500 at any time throughout the month. + +Edit: Congratulations to all the students graduating this month and the next. I know bank fees are the last thing you want to be concerned about while graduating and looking for a job, but it's always important to stay on top of your personal finance and I hope this reminder has been helpful. I know many of you signed up for the account when you were sixteen. I'm glad that this made the front page of Reddit and I thank the mods for stickying this for this month. If just one person saves some money from this reminder, I'll be happy. + +Edit 2: If you have a direct deposit of $250+ every month from your job you will also dodge this fee. This post was targeted at the soon to be unemployed so that probably isn't relevant to you however. The comments are full of alternative banks and credit unions with no such fee if you're interested in switching, and [this comment covers how many of the former loopholes people used to avoid this fee have been closed.](https://www.reddit.com/r/personalfinance/comments/6c35ne/this_is_just_a_reminder_that_bank_of_america/dhs1b3j/) I also saw a comment that there was a class action lawsuit when a certain amount type had this happen to them, so if you've never seen this fee you may have been grandfathered in under that account type. +[UPDATE: HOLY FUCKING SHIT, JPMORGAN IS PRIME BROKER TO MELVIN CAPITAL!!](https://m.imgur.com/PnxC5vh) + +Thanks to u/Longjumping_college for this find! + +TL;DR: Striking through the TD;LR not because it is incorrect, but because it doesn't give important details and some of the comments are still saying a fake squeeze could trigger margin calls. The strike through text remains if you understand why there won't be margin calls and just want the gist. If you are unclear about why margin calls are not feasible, please read the whole post. + + ~~The news of a squeeze over the holidays was put out by JPMorgan Chase, who, as a prime broker has every incentive to stop us from DRSing, and zero remaining incentive to issue margin calls.~~ + +------------------------------------‐-------------------------------------------- +EDIT: Fixed some of the math in my example. 20 million times 100k is 2 trillion, not 200 billion. + +EDIT 2: ~~I should note that even if by some miracle JP Morgan wasn't exposed on the prime brokerage side, they're still highly exposed as a DTCC member.~~ It appears JPMorgan Chase is no longer a DTCC member as of this year. I don't know how much that alleviates their exposure because I believe PB's are the first line, then DTCC. + +First, I want to explain prime brokerage for those of you unsure of what a prime broker is, it's generally a huge bank (Citigroup, Goldman Sachs, JPMorgan Chase, BoA, etc.) that offers prime brokerage services to hedge funds. + +Remember the scene in The Big Short where Jamie and Charlie get snubbed at that meeting in the lobby of JPMorgan Chase? They were trying to obtain a prime broker for their hedgefund, Brownfield Capital. (The IRL name was Cornwall Capital). + +Prime brokerages take orders from hedge funds and either place the orders on the market or fill them through their own inventory, or otherwise procure or create the assets requested by hedge funds. It's important to note that prime brokers have WAAAAYYYY more money than hedge funds. + +PB allows hedge funds to make special requests and saves them the time and labor of hunting down the investments they want on the market. But one of the most important things they do is allow HF's to buy on margin, so HF's don't have to move money around and put up the funds. + +Remember the scene where Michael Burry asks Goldman Sachs to write him a credit default swap to short the housing market? GS was his prime broker and they were able to sell him a tailor made financial product because he was their client. + +Now, the prime brokerage is responsible for covering any liabilities in the event the HF can't pay. So if they feel the HF is taking on too much risk, they can margin call them and ask them to post more collateral for their risk. If the HF fails the margin call, the PB can go after their assets. IIRC over this past year the DTCC made it easier to liquidate HF's that fail margin calls. But PB's still have to eat the difference, and with something as big as MOASS, it would be pretty stupid of them to margin call if they have to pay that difference. + +So prime brokers get paid by the hedgies for their services in several ways, which would be too time consuming right now and I'm too smooth brained to do a good job explaining it as I barely understand a lot of it myself. + +But here's the important takeaway: **Hedge funds that take on more risk provide much bigger profits and returns for their prime brokers.** + +This means the prime brokers had everyone incentive to play along with the shorting scheme over the past few years if they also believed the shorted companies would fail. And why would they margin call hedgies that are making them lots of money if they think the risks are overstated? It's a tale we see repeatedly now in finance. Big banks get greedy, take on foolish risks, get overleveraged, and regular people pay the price. + +------‐‐-------‐---------------------------------------------------------------- + +So I've read some comments saying a fake squeeze isn't possible because once the price gets to a certain point the shorts will lose control and have to close. And that *was* true before this got so big. But now, the people that would have asked them to cover their shorts have no incentive to do so and can try to just wait it out. They're not going to raise rates on borrowing the stock because that would blow up in their faces as well. + +And to get an idea of how fucked hedgies are and by extention the PB's, Citadel's hedge fund branch has $35 billion in AUM for example. Theyre obviously not the only SHF, but they're a big one. If the stock price hit 100k and only less than one third of the float (20 million shares) were sold, that's $2 trillion. That's more than **57** Citadels! But there aren't 57 Citadels, so Bank of America, Citadel's PB, would be responsible for the rest. Bank of America has Bank of America money, so this is good for apes. If MOASS were to drag BoA under, DTCC (whose members consists of banks that offer prime brokerage) would have to pay the rest. + +So this means the prime brokers would love a fake squeeze. That way they can sit back and not close, watch the price collapse afterwards, see retail leave, and then margin call their hedgies. Or not if the hedgies ended up making them lots of money. + +But if we DRS enough to make the fraudulently high number of synthetics obvious, then it becomes far too big for them to contain. The SEC and DOJ would have no choice but to act or watch all capital and IPO's evaporate from the US exchanges as they would be seen as being about as trustworthy as a North Korean stock exchange. And proving synthetics through DRS would entitle Gamestop and all its investors to all kinds of legal recourse. + +But now that the ball is rolling on DRS, the only way they can get people to stop registering and pull their shares out is if apes think MOASS is upon us. And after that it would nearly impossible to get everyone to put them back once the fake squeeze reduced retail's number of shares. + +Now, let's note that the news about an imminent squeeze was put out by JPMorgan Chase. As a PB we know they'll be holding the MOASS bag. So they need to stop us from DRSing ASAP or they're fucked! + +I also just want to note JPMorgan Chase's CEO, Jamie Dimon, is a comic book Wall Street villain. He makes Ken Griffin look like a quaint local businessman who owns the local Mom and Pop shop instead of a super-powered owner of a finance monopoly. Dimon's scumbaggery is worth a google. +I feel like I’m seeing way too many posts where the main goal appears to be more masturbatory/ego-stroking than adding anything of real value or asking legitimate questions. I assume this falls into “no self promotion” but it’s like every other post now. + +E.g. “I got $20 million from my IPO can I afford a $1 million condo and FIRE?” is just cringe. Or asking a question for the sole purpose of sharing your NW when it’s clear the OP already knows the answer to their own question but just want a vehicle to ego stoke to. +This follows from the government's ill advised cut in small savings rates last evening (albeit withdrawn now presumably for political reasons). I wonder if the policy establishment is using an incorrect template to try and stimulate the economy. + +Conventional economic theory tells us that as rates are lowered, savers are disincentivised to save and therefore they will consume more. This works in countries with a solid social security net. It is quite unlikely to work in a country like India where people save for a multitude of reasons - unforseen health expenses, education expenses, children's marriage and most importantly towards building a retirement corpus since most private sector employees are outside the purview of pension. Worryingly, it is exactly these items that are inflating at a stunning pace (quality healthcare and quality education). + +Let me illustrate this with an example. Assume you're a 30 something professional who puts away some money every month towards building a retirement corpus. There's a target that you have in mind which will secure you and your family financially. If the RoI of your portfolio suddenly drops, will you throw caution to the wind and go buy a TV or a crate of beer? Of course you won't. You'll save even MORE so that you reach that goal. A more direct example is retirees who live off interest income. If rates fall, it is but natural that they'll cut back consumption expenditure - they're not going to deplete their savings even more just because interest rates fell. + +Yes a fall in interest rates does help investments through mortgages and corporate sector borrowings. But is this really where we're lagging as a country? All evidence points to surplus capacities across sectors in India. We've missed the opportunity to be the factory to the world so export led growth cannot possibly be the end game. A revival has to happen through a rise in domestic consumption. And that is not going to happen unless the government either invests heavily in social infrastructure (free education, free healthcare etc.) or stops distorting portfolio returns by artificially lowering real rates. + +To be clear I am in no way advocating that interest rate hikes will save the economy. I'm just saying that there's a balance between savers and borrowers and currently we're probably in an unstable equilibrium below that balance. + +Thoughts and criticism (which I'm sure there will be a lot of) are welcome. + +PS. I am a bond portfolio manager myself and lower interest rates actually benefit me but the point here is bigger than just one's portfolio returns. +BNN Link (a write-up): [https://www.bnnbloomberg.ca/biden-eyeing-capital-gains-tax-as-high-as-43-4-for-wealthy-1.1593968](https://www.bnnbloomberg.ca/biden-eyeing-capital-gains-tax-as-high-as-43-4-for-wealthy-1.1593968) + + +>(Bloomberg) -- President Joe Biden will propose almost doubling the capital gains tax rate for wealthy individuals to 39.6%, which, coupled with an existing surtax on investment income, means that federal tax rates for investors could be as high as 43.4%, according to people familiar with the proposal. +> +>The plan would boost the capital gains rate to 39.6% for those earning $1 million or more, an increase from the current base rate of 20%, the people said on the condition of anonymity because the plan is not yet public. A 3.8% tax on investment income that funds Obamacare would be kept in place, pushing the tax rate on returns on financial assets higher than the top rate on wage and salary income, they said. +> +>The proposal could reverse a long-standing provision of the tax code that taxes returns on investment lower than on labor. Biden campaigned on equalizing the capital gains and income tax rates for wealthy individuals, saying it’s unfair that many of them pay lower rates than middle-class workers. +Recently my father's LIC Money back policy policy matured and he received a return of around 126000 INR, although he considered this a success even after investing an amount 6560 every year for 20 years, I was skeptical around the return. + +So I decided to compare that with returns of other famous investment vehicles like Nifty 50 and Gold. + +There was a moneyback from the policy every 5 years considering that, here is the result of such comparison from 2001 to 2021 + +**Summary:** + +Return on Gold : 12% + +Return on Nifty: 15% + +Return on LIC: 5% + +(calculation attached with [G Sheet)](https://docs.google.com/spreadsheets/d/e/2PACX-1vRIk18XIZS9JhP8TnAjFdTbKqTYME3vcEAA2FRl6OKoI5_ZuICzje6KtgAuKS9qNmoMxkzglYXCElYe/pubhtml#) + +**Note:** The comparison is made with absolute data based on actual dates and values + +If you want to calculate the same for your ULIP/ LIC, here are the steps to follow: + +1. get Nifty date wise NAV from VRO + +2. Gold price date wise from Google + +3. LIC returns in actual + +4. feed to a spread sheet like Excel and use XIRR formulae + +Thanks to u/crimelabs786 for helping out with the calculation +I need to pay for out of state tuiton in college. It's going to be about $5000 a month and my dad is going to pay $2000 so i need to figure out how to generate the difference. Investment budget is around 5000-$10,000. +Maybe this is mostly a question of personal finance, but since poverty seems like a big part in economics (and their counterpart, wealth, seems to be the conerstone of it) i thought what might have economists think about the matter? + +In asksocialscience there are posts in which they highly imply that goverment assistance is the main way in which people get out of poverty, and that the usa in this case is an outlier for not having enough goverment assistance, thus most of their population being working poor/ having the most working poor population. + +They say that behavioral poverty isn't well regarded, idunno where that comes from, google academics has more citations for big papers and smaller papers on behavioral poverty than structural ones. + +So the question is: what do economists think causes poverty? Lack of character, or the underlying system? +Hey guys, It's your neighborhood friendly branch manager here with a personal finance post about credit cards. (TL;DR at the bottom) + +&#x200B; + +Normally I would not advise anyone just starting out at work to get a credit card, simply because those delightful offers and points manipulate you into spending more. + +&#x200B; + +But Covid changed everything! + +&#x200B; + +Even before Covid, Banks had increasingly moved towards digitization and instant disbursal of loans. Customers could get instant offers based on their salary credit and credit score. It looked like there was no longer a need for bank staff to manually check their salary etc. This worked well for people who had years of repayment history and had formal access to bank credit. + +&#x200B; + +When Covid struck, however, a lot of people needed cash because they were out of a job or their income sources dried up. Trouble was, they had never taken a loan, and so they didn't have a repayment history nor a CIBIL score. The ones who still had a job could get a loan based on their salary slip but small business owners/freelancers couldn't get one. + +&#x200B; + +Why? Because they didn't have a CIBIL score and they couldn't show income proof (since everything was under lockdown and they didn't have revenue). Without a repayment track record to judge them from and no proof of income, they had to resort to gold loans or selling their property. + +&#x200B; + +So when a friend of mine (Let's call him - Vijay) kept asking me about wanting a credit card, instead of advising him not to take one, I changed my mind. + +At the time, Vijay did not have a CIBIL score. If he wanted to take a housing loan, the interest rate for someone without a CIBIL score would be approx. 0.5% higher than somebody with a CIBIL score above 780. + +&#x200B; + +If Vijay wanted to take a housing loan of 50 lakhs, he would have to pay 3.7 lacs more over the course of a 20-year loan. This amount increases to 6.2 lacs in case of a 30-year loan! + +Five years ago, I would have thought "That's just 3.7 lacs over the period of 20 years" but after becoming a FIRE wannabe, I balk at the thought of paying that much extra. So I decided to help Vijay generate a CIBIL score. + +&#x200B; + +Vijay did not have a payslip, (He is in the services industry and getting paid in cash) so no credit card provider was willing to give him one, even though he was getting paid in excess of the 30,000 salary threshold. + +(Note: If you don't have a salary slip, banks won't give you a loan. So although Vijay doesn't have a payslip now, he is confident that he can get a formal one later. But good credit scores need a long repayment history, which is why I wanted to create a positive repayment history for him as soon as possible) + +&#x200B; + +And that's when I got him an FD backed credit card. My bank lets him get a credit card by providing an FD - No credit history or salary slip required. They let you use up to 90% of the FD limit (but I told him to keep it to strictly 30% of the card limits to let him increase his score). The minimum FD amount was ₹10,000 which Vijay paid up and soon enough he got the credit card over post within 7 days. + +&#x200B; + +I also signed him up for a yearly CIBIL subscription in order to check the results of my experiment. CIBIL scores didn't show up for the first three months. + +But after three months... + +He now had a CIBIL score of 740 🥳🥳. It's been six months since he got one and his CIBIL score improved to 742. [(Proof and rules on how to use it responsibly to increase your score on my site)](https://sikkanam.com/use-credit-cards-to-improve-cibil-score-get-cheaper-loans/) + +&#x200B; + +**How can you make use of this?** + +**If you are a parent with kids in college:** When your kids enter their undergraduate studies, get a credit card in their name with that 10k limit. By the time they finish it and want to go abroad for higher studies, they would have a decent CIBIL score which would help them get cheaper education loans for their masters abroad. \[CIBIL score is linked to PAN, so make sure they have a PAN as well\] + +If they decided to get a house, later on, their CIBIL scores should be well above 780 or at least close by, if they have spent responsibly. + +&#x200B; + +You can even reduce the credit card limit for them in the app \[even though the limit reported to CIBIL would be 10,000\] in case you don't trust them to use it responsibly. + +&#x200B; + +**If you have just entered work:** You would probably look for a housing loan or a personal loan for wedding expenses. Having a credit card and using it responsibly would let you rack up your CIBIL score which lets you get cheaper loans. + +&#x200B; + +**TLDR;** If you ever plan to take a loan in the future, you need to have a great CIBIL score to get cheaper loans. And since you can only generate a CIBIL score if you take a loan, credit cards are an easy way to generate and improve your CIBIL score, but only if you are able to use them responsibly. + +If you don't have a payslip, you can get an FD backed credit card from Axis, SBI, BoB, ICICI, or Kotak to generate that sweet CIBIL score. (~~AFAIK, no other bank has an FD backed credit card option and~~ it is useful for those who aren't eligible for an unsecured credit card) + +&#x200B; + +Edit: One more important point in favor of using FD backed credit cards or FD backed overdraft limits is that they are secured loans which are preferred by CIBIL and will likely improve your credit score further! +**Before I start:** I received my PhD studying drug delivery platforms of small molecule and protein based immuno oncology therapeutics in 2019 from one of the world’s best universities. I will not disclose anymore personal information since it looks like this forum is under a lot of scrutiny. + +&nbsp; + +Let me give you all a little historical background to Immuno oncology (I/O). I/O is an incredibly hot field of cancer therapeutic research today that harnesses your own immune system to fight off cancer. Think of a vaccine that trains your body to kill off cancer cells. In ideal cases, the patient gets some flu like symptoms (that’s their immune system being activated), and then they go into full remission, with their immune system protecting their body from cancer. + +&nbsp; + +The first major blockbuster I/O therapeutic that was FDA approved was Nivolumab, an anti-PD-1 antibody. It was approved in 2014. One year later, Yervoy (CTLA-4) was FDA approved. Three years later (2018), Professors James Allison and Tasuku Honjo share the nobel price in medicine for discovering CTLA 4 and PD-1, respectively. In other words, this shit is a big deal, and is now believed to be the ideal therapeutic modality to cure cancer. + +&nbsp; + + +**Okay-Superstonk time** + + +&nbsp; + +The other night I was watching the wall street conspiracy, after it was mentioned in a couple of superstonk interviews. About 10 minutes in, they start disclosing an example of naked short selling of a biotech company called “Viragen”, and how their treatment could cure multiple sclerosis and metastatic malignant cancer. There was this stock broker and an ex employee of Viragen talking up this treatment, and how it could cure cancer. + +&nbsp; + + +Their stock was naked short sold on the open market, tanking their share price, and preventing them from raising funds, destroying their credit, and ruining their future prospects. Sound familiar? + +&nbsp; + + +I rolled my eyes and called bullshit: you know how often universities “cure” cancer? About once a week. Odds are that this was some bullshit treatment, or it was some minor tweak of chemistry on a chemotherapeutic. Yeah, the medical and scientific community would “suffer”, but honestly, no big deal. + +&nbsp; + + +But then they called out the drug name: Omniferon, which immediately struck me as an interferon therapeutic, as early stage drug companies are rarely creative with their names. I immediately stopped watching, and looked into Viragen. What I found got my blood boiling. + +&nbsp; + + +There’s no longer very much information about Viragen, but what I found was that: Viragen was a biotech company founded in 1980, and their lead candidate was a multitype human interferon alpha, starting their clinical trials in the early 2000s. + +&nbsp; + +What is interferon alpha, can it cure cancer, and why do we care about a company founded in 1980? Well, to get started, interferon alpha is a protein based immune cytokine that modulates immunity. In ape-speak, this thing can jump start your immune system. Useful for things like… I don’t know, cancer, covid, Hepatitis, HIV, etc? There are currently over 3000 clinical trials recorded on the use of interferon alpha for dozens of different diseases: https://clinicaltrials.gov/ct2/results?cond=&term=interferon&cntry=&state=&city=&dist= + +&nbsp; + + +So wait, this company was working on an immunotherapeutic all the way back in 1980? Yep, it looks like it. Before oncologists had even coined the term immuno oncology, these guys were trying to do it. Let’s look at the timing of their drug development and compare it with another therapeutic: Peginterferon alfa-2a and alfa-2b, two modified single type interferon alphas that is sold today be Merck. They were clinically approved in 2001 and 2002, respectively. Viragen’s multitype interferon was hot on the heels of Merk’s therapeutics, with phase II clinical trials in Europe ongoing around the same time: https://www.bizjournals.com/southflorida/stories/2001/06/18/daily33.html + +&nbsp; + + +In vitro studies showed that their multitype interferon was superior to Merck’s interferon in vitro: https://www.biospace.com/article/releases/viragen-inc-multiferon-r-shows-potent-activity-in-preventing-the-progression-of-malignant-melanoma-study-to-be-published-/ (just a heads up, as a scientist, I can tell you this study drew the wrong conclusions from the data, but thats not the point. This was a legitimate company trailblazing one of the hottest biopharma fields today) + +&nbsp; + + +Lastly, in spite of all of the naked short selling of Viragen, they were still able to get clinical approval of multiferon in Sweden: https://www.thepharmaletter.com/article/viragen-s-multiferon-approved-in-sweden. + +&nbsp; + + +So let’s recap. Viragen was an early trailblazer of today’s massive field of immuno oncology, which lead to two nobel prizes in 2018. They gathered a team of talented scientist, technicians, clinicians, and businessmen to drive forward a potentially groundbreaking cancer therapeutic. They were shortsold into the dirt because shortsellers in the early 2000s did not understand what I/O was. In spite of all this, they developed an immunotherapeutic that had enough clinical success to be approved in Europe, in spite of their inability to raise funds on the stock market. Imagine what they could have done if they weren’t short sold? + +&nbsp; + + +This leads to another question that really gets my blood boiling. What other companies are developing new therapeutics, or trailblazing new scientific, medical, or engineering modalities that are getting short sold into the ground? I know of three companies off the top of my head in the EV space (QS, TSLA, and RIDE…DO NOT BUY THESE COMPANIES RIGHT NOW, GME IS THE MOASS) + +&nbsp; + + +Short sellers are not innovators. They are not scientists. They do not have the ability to think outside the box and see what others do not. They do not understand the technologies they are shortselling. They do not know the feeling of spending countless nights in the lab trying to achieve their vision, frustrated by all of the setbacks, but driven by the potential of their work to change the world. Short sellers are parasites, taking advantage of innovative technologies that the average investor does not understand. They naked short sell, and spew FUD to make money, all while driving perfectly good companies in the dirt. + +&nbsp; + + +Fuck these guys. They all belong in jail. Short selling should be banned. I’m not selling. +From a finance perspective this is very concerning to me. I’m curious what others thoughts are in regards to car repos. In particular from my experience in credit risk, my understanding is that car loans are generally less risky than home loans. Given that is the case, is this another bubble that will eventually burst or is this just residual effects of the pandemic that are still being understood? +Finance should be a mandatory curriculum in school with emphasis on budgeting, concept of debt, saving for retirement and investing long term. I hear of so many horror stories of individuals in their 50’s, and much worse, 60’s and 70’s with no retirement, debt and having to work in their later years. Get these kids on track on the the importance of finance and retirement savings to save their self a life of being financially in despair and having to rely on social security if it is still around. So many kids are lost in finance with the mind frame of “I’m young I have enough time”. No! Time is not on anyone’s side because in a blink of any eye your already in your 40s with 0 saves. Time is on someone’s side when they invest early then I agree. I was at one time that young person. Now I’m 52 trying to catch up although I was savings during my years I start several years late and I didn’t put in enough time to be financially where I should be. Finance is an absolute must In this day and age for everyone but especially young kids! +I have noticed that a concerning growing amount of people believe that the current state of inflation is a fallacy, since companies are 'making record-high profits,' implying that companies are increasing prices out of pure greed. This is further exacerbated by politicians (who I won't name) spreading those beliefs. Why do you think people are so prone to believe all this crap? I just want to know what you guys think. +What prevents scientists to create Deep Blue of day trading? What some of the obstacles that they have to face? What happens if you feed every possible bit about trading to artificial intelligence, and let it handle itself? Why wouldn’t it be able to make let’s say 10% a day? +While we get amused by Rahul Dravid getting mad at Bangalore's traffic and Cred being the most efficient startup at burning money in India, I think there's a bull case here to vindicate the VCs who threw their LP dollars after a company which made 52L in revenue last year. + +&#x200B; + +Kunal Shah keeps talking about India being a "trust deficit" society and removing trust deficit can generate positive externalities from improving transaction efficiency to happiness and perhaps reduce the daily anxiety when dealing with fellow Indians. Now beyond that abstract nonsense, we can pry out a general overarching goal: trustworthy people should be able to access credit in everyday transactions. + +Credit cards solve this problem somewhat - they give a zero interest 30 day credit to consumers while charging a merchant discount rate (MDR) to merchants. Additionally, they make interest money off of consumers who carry forward their monthly balances. + +Why do merchants agree to pay this MDR? Well it comes down to trust and supply and demand - consumers spend more if they have credit and merchants are better off using an intermediary to evaluate if a consumer is trustworthy and deserves that credit. + +That's where Cred comes in - I believe in the long run Cred can replace credit cards with a stronger credit underwriting platform and perhaps a cheaper MDR to merchants who accept "Cred Credit" (you're welcome, Kunal). + +But what's wrong with credit cards you say? What problem is Cred solving exactly for consumers? Well, credit cards suck. No really, they suck - competition in credit cards actually creates perverse incentives because card issuers go out of the way to offer rewards on cards and pay for them using higher MDRs. Overall, the cost to society increases. + +Secondly, credit cards have very low penetration in India due to the behemoth that is UPI. Who wants a cheap piece of plastic when they can pay using their phone in a secure fashion? The only problem with UPI is that merchants can't offer credit directly. Cred is well posed to become the intermediary between merchants and consumers who like to use UPI and offer a credit marketplace to solve this problem. + +Imagine your landlord being able to offer lower deposit rates because you're a Cred member. Or your local grocer offering you a 30 day credit without having to deal with the headache of reminding you to make payments. + +Execution will be key of course, but I think Kunal is in this for the long run and the flashy ads are building a huge customer base which Cred will be able to eventually monetize with the right credit offerings. + +&#x200B; + +Edit: This elicited a healthy dose of emotion, cynicism and mockery. + +To address a few frequently mentioned comments: + +1. Cred cannot become CIBIL or Experian or a credit rating agency without the government's blessing. + +Agreed. I don't think they will become a credit rating agency directly. They will probably use existing credit rating + their own underwriting model using the data they collect to better control credit underwriting risk, and offer cheaper credit compared to traditional lenders. + +2. Cred is a scam/fad/VCs are stupid/VCs will file police complaint etc. + +Maybe. But the implicit premise of a bull thesis is that the founder, company and VCs are bonafide and not out there to scam each other or the customers due to reputational risk. It would also be ironic for a person who keeps talking about trust to actually be a scammer himself. + +3. Cred will sell your data + +Yes this is a possibility. But building a business model around the data (credit history) is likely more profitable than selling the data itself. The idea of this post is to explore a different business model with some creative conjectures. + +&#x200B; + +Edit 2: I exaggerated the "credit cards suck" part a little bit. But to explain how credit card reward programs lead to price increases, have a look at this article: [https://nymag.com/intelligencer/2018/10/are-other-peoples-credit-card-rewards-costing-you-money.html](https://nymag.com/intelligencer/2018/10/are-other-peoples-credit-card-rewards-costing-you-money.html) + +Basically, credit card companies charge merchants a higher MDR for the privilege of accepting a premium VISA/MC credit card which offers better rewards to consumers over a standard no-rewards card. Merchants who want to accept Visa have do not have an option to decline these higher MDR cards. Of course, merchants have no option but to increase their prices for everyone to compensate for the higher transaction costs of a small percentage of premium card swipes. +So, I'm not sure if this is an appropriate sub to post my story. By all means, remove it if I'm breaking a rule. I'm not a huge reddit person, so if anyone knows any other subs where this story would belong, please let me know. This story takes place in the USA. + +I want to start off by saying that my story isn't particularly exceptional. There are absolutely people out there who have come into far more money and wasted it all. I have had people tell me that it'd be more surprising if I *hadn't* messed up as I did, due to my age and utter lack of guidance or foresight. But I'm not here to spout excuses, nor am I looking for judgment or any "You should have used it xxx way instead." This happened 6 years ago - it's far too late. I certainly do wish I had come to a place like this for advice back in the day, though. I am posting this to share my experiences - either for entertainment purposes, eye-opening information, or as a warning to others who come into any sizeable amount of money. + +Let me be the perfect example of everything you DO NOT DO with a large amount of money. It has taken years for me to build up the courage to sign back into my old bank account and look at this information and these numbers. I literally could not bring myself to do it for a very long time. The first time I tried, I had to turn the screen off almost immediately. And that was 5 years after it was all over. I have spent a long time just trying to forget and pretend this never happened - even going so far as to omit this part of my story entirely when I share my life experiences with others. But, I am trying very hard to face myself and my problems lately, and this is part of it. I can honestly say that these mistakes have absolutely *fucked* up my entire life and taken my only chance away from me to gain a proper foothold in society and be on the same level as anyone else who was able to go to college and get a properly paying job. Now, my situation itself is fairly rare. But, I think universal lessons can be taken away from this. Hell, regardless of any of that, maybe this will simply entertain a few people at how fucking *stupidly* easy it is to waste this much money. + +I won't get too much into my life story, because it's very long and complicated. But basically, I had slightly older middle-class white parents with good jobs. They both had type-2 diabetes and didn't manage it. So, they both passed away at different times once I turned 18 and had just finished high school. The rest of my family didn't give a shit about me after that, instead my half-siblings and my dad's new girlfriend (parents had divorced 2 years before dying) just vultured and stole away 1/3 of my dad's life insurance money that really should have went to me, because they were all financially stable and didn't need it, whereas I literally had nowhere to go and couldn't get any help since I was already 18. If there was anywhere I could go for help, I sure as hell didn't know about it since I grew up without needing social assistance or anything like that. + +But in any case, my 1/4 portion of my dad's life insurance was $116,000. (Mom's was just 10 grand and I wouldn't get it until 1 year later and it was also wasted in the same way so I won't elaborate on that part) If anyone is curious about how it was so high, he was an airplane mechanic at a major international airport in Houston. He had life insurance through his job through MetLife. + +I continued living in his house until I got the eviction notice. (It wasn't paid for and I couldn't afford the payments on it.) Then I just ran around like a chicken with its head cut off, staying at hotels at a weekly rate (the one thing I did right - use weekly rates if you need to stay for a prolonged period of time!!) and ordering pizza every night because I didn't have a stove to cook on and was too much of an idiot to just buy bread and microwaveable food or something. + +You'll find a lot of that in this information I'm going to share - I was just a fucking idiot. I was 18 years old (turned 19 soon after getting the money) and I grew up in Texas where we have a garbage educational system even compared to other states. My parents never taught me anything about financing since they had so much damn money every paycheck that they never had to worry about saving or investing properly. I literally had no idea what to do and didn't even think of even asking online for advice, much less going to see a financial advisor. I didn't know they existed! + +Now, I will let my bank account speak the rest for itself. The following is a video of me scrolling down my transactions on my bank's website. This account has been closed for years now, so I see no danger of anyone causing any harm. It's not like the account numbers are shown in full or anything. And yes, I used Hypercam to record because OBS wasn't working. :') It's a pretty long video, so it's probably easier to fast-forward it a bit. I open a text document and briefly explain some major purchases. + +[https://www.youtube.com/watch?v=e52uLIr\_A2I](https://www.youtube.com/watch?v=e52uLIr_A2I) + +The Too Long Didn't Watch version is: + +The $116,00 was deposited on November 19, 2013. By June 30, 2014 it was gone. + +\- $33,000: old house in the slums of Toledo, OH that I did not realize was in the slums because I did not research the area beforehand and even ignored a warning from my real-estate agent's husband about the area because 19 yo me was an idiot. **I lost $25,000 here** because I only was able to sell it back for **$8,000** due to vandals. + +\- $17,000: Two different overpriced used cars bought from dealerships that together did not last me beyond mid-2016. + +\- $5,000: Paying for the repairs of my car by myself after I swerved due to ice on the highway and crashed it. Did not know that auto insurance pays for repairs even if it's your fault. \*facepalms\* + +\- $2,600 on an Alienware PC that stopped worked after 3 months because I accidentally spilled water on it and thus was not covered under the warranty. + +\- Thousands on a big TV, furniture, and appliances that ended up getting left behind at the Toledo house because I didn't have enough money to move it to the next place I went to live at with my partner after fleeing the Toledo slums. + +And the rest? Eating out/food delivery every day due to being too afraid to drive after the wreck and witnessing people driving like maniacs every time I went out on the roads in Toledo, ordering lots of anime figures and various goods of that nature, tons on digital entertainment like Second Life money, cosmetic items on mmorpgs, and currency for mobile games that I no longer play. + +Combine all of this with earning no income from any sort of job, and that shit just drained riiiight on out. + +It is now April 2020. I will spare the details of my personal situation and everything that had happened personally over all these years, but I have ended up homeless multiple times. I have type-2 diabetes that was diagnosed *before* my parents passed away, and all of that eating out has permanently ravaged my health and progressed the disease to the point where I now feel very lethargic from simply eating a few slices of bread. I have also been unable to afford health insurance to pay for medicine for years. And now that I finally moved somewhere (Michigan) that has a way for the poor to get health insurance, this corona shit just exploded and I can't go see a doctor to get any medicine because the bus system won't take anyone anywhere for a non-essential medical trip. If I wasn't working part-time at a grocery store right now, I'd be fucked and homeless. Again. + +All that stuff I bought with the money? Yeah, I don't have any of it anymore. The ONLY thing I still have is the $2,000 Alienware laptop that I bought alongside the PC. It runs like shit now since it's been 6 years, and it probably will stop working at any moment. Being forced to move around a ton and ending up homeless caused me to lose everything else I had. (Which wasn't even that much - most of the money had went to eating out and making big dumb purchases that didn't last) I'll add that my mental state was actual garbage throughout all of this as well. I have often felt as though I'm living in a post-apocalyptic alternate reality that was caused by my mistakes. It has taken this long to feel comfortable looking at this bank information. I still wince. I have to laugh at myself to keep from plunging back into the sea of regret and despair. I've floated in that sea from the moment I started wasting that money. + +And there that's my story. I saw my $1,200 stimulus deposit two days ago and just laughed at it. I'm going to pretend it doesn't even exist. I fucking *know better*. I walked through the fires of Hell to learn not to waste money, heck if I'm going to repeat the past even on a small amount. + +If anyone would like me to send them my account statements (they're in formats unfamiliar to me like .ofx, .qbo, and .csv) in order to make any sort of compilation of data or even to study out of curiosity, just send me an e-mail. (I've got reddit messages turned off) You can find it in the About tab of my Youtube channel. + +Thank you for your time. I am happy to share my experiences, no matter how idiotic and full of shitty mistakes, if it can help anyone at all, or even make a single person laugh. +Like many investors these days, I have been intrigued by the performance and philosophy behind the Ark ETFs and the competence of Cathie and her team. + +My main concerns with this ETF, as it is with many actively managed ETFs which rise in popularity quickly, is how new capital is allocated as investors pour their cash into the funds. + +Let's take Ark's flagship ETF: ARKK. This fund invests all of its capital in just over 50 companies. As more money pours in, new capital has to be deployed in one of two ways: + +1. To buy more equity in the companies currently present in the fund which will lead to growing ownership. The number of companies in which Ark has over 10% ownership is over 15 in ARKK. This level of concentration can lead to an "artificial" pump in prices and comes with limitations and other problems as evident by the rise and fall of many 90's actively managed funds. +2. The other option is to invest in new companies which might force the Ark team to select sub-par firms resulting in sub-par results in pursuit of producing stellar results and beating the benchmarks. + +This is a classic problem that all popular active funds have faced. How do you think Ark will navigate this problem? Are they any different that many active funds which have beat the benchmarks some years only to trail them in others? Would love to hear your thoughts! +TLDR: is it a good idea to start investing young or is this better suited for older people? + +I am a complete beginner to all this unfortunately, I'm part of the new wave brought in by GME. I want to start taking this seriously but I'm feeling a bit overwhelmed with everything at the moment. I impulsively bought ~£200 of GME, AMC, and NOK stock. I have no idea if I will lose that money or not, hopefully not but it's not the end of the world if I do. I do have 12 shares of NOK, and I realise now that it may be better to keep them as a long term investment due to 5G etc. + +Anyway, regarding dividends: right now I am 18 and put £35,500 into premium bonds. I usually make £25-50 per month, sometimes nothing, sometimes £100+. It guess it's pretty decent. But I feel dividends might be better to invest in over time? In my normal bank account I have about £4.5k spare money to play with. + +Would it be worth it to put in say £300-1000 in a dividend portfolio to get started? I can then invest about £20 a month consistently, plus whatever else I can put in at the time. So far I've just been dumping spare cash into my premium bonds, like a few weeks ago I put in 1k, and I was planning on doing the same in a few days but now I'm debating if I should start focusing on dividends instead. + + +EDIT: thanks everyone for all the help and guidance! +Work in a large ASX listed org that went through a wave of redundancies after COVID. + +* I joined said org on a package of 115k +* After a year or so, they started advertising for a manager type role. After 3 months they didn't secure a candidate and so they offered me the role given I was already doing the tasks that were required of this role at 125k. I accepted after being told it was a difficult time and there was very limited room for negotiation. +* I later found out that the role had been marketed to candidates in the 145-155k salary range. I know this to be the case because I bumped into a candidate (also a former colleague) who rejected the role because the salary was below par for industry +* Livid after learning this I decided to start applying to competitor orgs and have this morning secured a role at 175k +* Given my current org couldn't fill the role after 3 months for 145 - 155k range, If I take this role they will need to lift their salary range for the role to 170-180 anyway with the difference being they'll find a candidate that knows nothing about the business and will need to be brought up to speed + +Lessons: + +1. Don't believe HR +2. Do your research and know what you're worth +3. It doesn't pay to be loyal + +Keen to hear of other similar experiences + + +\*\*EDIT - Thank you all for your comments. After reading them it seems like I've been living under a rock and that this happens a lot more than I thought or was aware of. I definitely made mistakes and I certainly could have done my research and also challenged HR. +Decentralized marketplaces like **ApolloX**, are creating buzz and proving it can fix many problems in centralized marketplaces. Some advantages of decentralized e-commerce which can be found on the ApolloX platform as well include, Trust and Protection without a high price tag, eliminating the middlemen, transparent operation and data ownership and a marketplace created and owned by the community. + +\#ApolloXICO + +[https://apollox.network/](https://apollox.network/) +Bonfire has an ATH of 110M market cap in just 5 DAYS! + +This token is now 6 days old with about 65,000 holders already. Just as the title says, there's a huge opportunity within this coin. Community growth has been consistent and is thriving, take a visit to our discord server or telegram chat to see this. They currently have an AMA planned on discord thats in 3 hours at 7PM UK TIME. There is a lot the anticipation for coinmarketcap, coingecko, blockfolio, etc. Marketing is going to be a huge focus from the admins , pushing this coin further than people could imagine. Ultimately, the combination of transparency from the leadership through AMAs, an importance placed on marketing, and a thriving enthusiastic community is what will drive this price up and a 1 billion market cap isn't something absurd to think about. There's a lot of long term plans for Bonfire and they're trying to escape the label of being just another shit coin. + + +Website - www.bonfiretoken.co/ +Discord \[AMA HELD TODAY\]: https://discord.gg/AhJXDff5FH +Telegram - t.me/BonfireTG +PancakeSwap - https://exchange.pancakeswap.finance/#/swap?outputCurrency=0x5e90253fbae4dab78aa351f4e6fed08a64ab5590 +Chart - https://poocoin.app/tokens/0x5e90253fbae4dab78aa351f4e6fed08a64ab5590 +Our own subreddit - https://reddit.com/r/BonfireToken/ +Twitter - https://twitter.com/token\_bonfire +BSCScan: https://bscscan.com/token/0x5e90253fbae4dab78aa351f4e6fed08a64ab5590 +I have been working for the same company for 2 years now. Every year you make at the company you have a review where you get a raise. Only people that work "full time" are eligible. + +The first year that I was working there, I was working "part-time", which really just means I didn't have benefits, because I was still working almost 40 hours a week. I started working "full time" when I made my first year, which meant that I did not get a review for my entire full year. It's been a year of me being full time and I had my first review and I left with a $1.5 raise. + +A couple of months ago I referred my friend to the job because we were short people. Long story short she has been here 5 months, and she found/was offered a job at another office for $6 more an hour. When she put in her two weeks to leave for the new job, my current boss counter offered her to match the pay for her to stay. So now my friend who has only been working there for less than 6 months got a $6 raise, while I only got a $1.5 raise after two years of working for this company. + +While I'm happy for my friend, I can't help but to feel cheated and undervalued. We technically have the same job, but I do more work than she does and I don't know what to do or how to handle this situation. + +Do I ask my boss to match her pay? How would I even bring that up? What if she says no? I'm just really lost as to what my next steps are.. + + +In the fine 1964 film Goldfinger, James Bond and the audience initially think the villain's plan is to steal the gold from Fort Knox. Bond even points out the madness of this idea by calculating how many trucks would be needed to haul it away. + +Not so fast, Goldfinger replies. The actual plan is to detonate a dirty bomb inside the vault, irradiating the gold. In Goldfinger's mind, this will essentially destroy its usefulness for many years, and his own legally-owned gold will increase in value because it's now a scarcer resource, making him an immense profit. Bond later tells Pussy Galore that the plan is insane. + +What would actually happen if a dirty bomb went off inside the Fort Knox gold depository? Would owners of non-radioactive gold make out like bandits? If the U.S. suddenly had some urgent need to trade away highly radioactive gold, could it just sell bullion inside lead boxes? +There’s only one directive no matter what, and that’s to carry on hodling. + +That’s not to say that the bias confirmation helps, and it’s very educational and entertaining along the way; but being content and comfortable just patiently waiting is the norm and standard response to anything other than the MOASS. + + +**Edit 1:** I never thought I’d actually have to edit a post to thank kind internet strangers for their awards, and say “well this blew up” and “RIP inbox”. I feel like a true Redditor now. I can feel the love. + +Please, if you’re wanting to give paid awards to this post, instead buy some more (fractional) GME or donate to your favourite charity. + +**Edit 2:** So, some bot just messaged me to say I’ve made it to the front page of Reddit. Not sure how to take this news. Slightly overwhelmed and feeling the love fellow apes. + +I’m thankful to have made a connection with so many of you with my post. It just shows how many of us “zen apes” are genuinely out there. +I feel that UPI has changed our lives drastically in a very short span of life ever since it has come. From auto drivers to kirana stores, more and more people are adopting this app based payment model in India. However, I still think it needs the following improvements and I hope the NPCI implements all of them: + +1. **Don't make debit card mandatory for authentication**: The world is moving away from card based payments and the hegemony of VISA/MasterCard, why require it or make it mandatory for creating app based UPI accounts? I understand that using only the mobile OTP may not be a secure way of authenticating an account holder but debit card isn't the only way to authenticate, there are many others like: + - *A virtual debit card:* Most banks allow you to create virtual debit cards by logging into their NetBanking system these days, why not allow the first time UPI authentication using this virtual card? + - *NetBanking Generated Code:* You can require the user to login to your Netbanking system and generate a code from there which can be used as a second factor code for creating the UPI ID. + - *Email OTP:* Apart from the mobile OTP, you may also require an OTP sent to Email, having two factors of authentication is more reliable than one. + - *Any other number such as last month's ending balance:* Only the account holder can know what was their account's last month's ending balance. This is just just one factor, I'm sure there are many others. +2. **Make ATMs compatible with UPI, allow limited cash withdrawals using UPI:** Again, this is needed to end the VISA/MasterCard hegemony in India. The only reason most of us commoners use debit cards is to withdraw cash. If you allow us the convenience of cash withdrawals using our UPI apps instead, I think we can do away with cards for good! And its not as if we need to withdraw lots of cash, there is only that occasional maid or nanny or car driver who totally insists on cash! For about 95% of transactions, we already use digital payments. So even withdrawal limits of 3K/5K per transaction is totally fine with us. +But its unfortunate that the efforts in this regard (UPI enabled ATMs) are quite low and lukewarm until now. UPI has been a success story and the world is praising us globally but no major Indian bank like SBI/BOB/HDFC has come forward with an initiative of doing this. Only recently, a bank named [City Union Bank seems to be taking an initiative](https://www.livemint.com/industry/banking/atm-withdrawal-no-cards-needed-scan-qr-codes-on-upi-app-and-withdraw-money-how-it-works-11617272305225.html) but I don't see much enthusiasm by the larger banks in this regard. I really hope NPCI/RBI/FinMin/etc. takes the lead and gets this done soon! +3. **Don't interfere with market mechanism too much:** The recent cap of 30% transactions placed by NPCI on app providers like Google Pay, Paytm, etc. seems to be there for ensuring competition but the side effect might be delays and/or service unavailability for users/customers. Please make sure the service to users isn't affected while you are ensuring free and fair competition among the app providers. + +**Edit** + +As a bonus fourth point, app providers like Paytm should allow their users to change the default generated UPI ID because *<phone-number>@paytm* is quite bad from privacy perspective and privacy is one of the reasons why people switched to UPI based payments from the traditional *Account No + IFSC code* one. + +As a bonus fifth point, a very "nice to have" feature with UPI is that of a "mini statement" along with available balance. The app itself does provide a transaction history but that pertains to only UPI transactions done through that app. Something like the mini statement which we get from ATM or an m-passbook generated on screen by entering the UPI pin will be a mind-blowing feature! But I guess that can come some time later once the load on UPI network is lessened. +We've been getting submissions about the candidates economic policies. They're worthy of discussion, but we also don't want political content displacing other economics content. So we're trying two sticky megaposts. One for Clinton's plan, one for Trump's plan. This way we can have a discussion on candidates policies without overrunning the sub, like we did with [the economic analysis of Bernie's plan](https://www.reddit.com/r/Economics/comments/46sx5a/bernie_sanders_economic_proposals_megathread/). + +## Clinton's policy platform: + +* [Generally](https://www.hillaryclinton.com/issues/) and on [taxes](https://www.hillaryclinton.com/issues/a-fair-tax-system/), [labor and worker's rights](https://www.hillaryclinton.com/issues/labor/), [college costs](https://www.hillaryclinton.com/issues/college/), [social security & medicare](https://www.hillaryclinton.com/issues/social-security-and-medicare/), [wall street reform](https://www.hillaryclinton.com/issues/wall-street/), [workforce skills & job training](https://www.hillaryclinton.com/issues/workforce-and-skills/), [jobs and wages](https://www.hillaryclinton.com/issues/jobs/), and [more](https://www.hillaryclinton.com/issues/). + +## Analysis of Tax Plan + +* [Tax Policy Center](http://www.taxpolicycenter.org/publications/analysis-hillary-clintons-tax-proposals/full) on the progressive tax policy and reduction of incentives to work, save, invest, and further complicating the tax code. +* Committee for Responsible Federal Budget [Analysis of both candidates](http://crfb.org/sites/default/files/CRFB_Promises_and_Price_Tags.pdf), [Executive Summary](http://www.crfb.org/papers/promises-and-price-tags-fiscal-guide-2016-election), and [Update](http://crfb.org/blogs/analyzing-clintons-health-and-education-expansions). Covering debt as a percent of GDP, growth assumptions or tax increases, and a policy cost scorecard. +* [Tax Foundation Analysis](http://taxfoundation.org/sites/default/files/docs/TaxFoundation-FF496.pdf) on tax revenue, incidence, and economic impact + +## Other Analysis +* [Moody's Analysis](https://www.economy.com/mark-zandi/documents/2016-07-28-The-Macroeconomic-Consequences-of-Secretary-Clintons-Economic-Policies.pdf) of the impact on GDP, employment, median household income, and more under current law, full implementation of policy platform, or partial implementation + +## Fact Checking + +* [WSJ fact checks Michigan speech](http://blogs.wsj.com/economics/2016/08/11/fact-checking-hillary-clintons-speech-on-the-economy/) +* [NPR fact checks Michigan speech](http://www.npr.org/2016/08/11/489563362/clinton-to-lay-out-economic-plan-in-contrast-to-trump) +* [Annenberg Public Policy Center fact checks the Michigan speech](http://www.factcheck.org/2016/08/clintons-economic-speech/) + + +## Other +* [NPR Comparison of Plans](http://www.npr.org/2016/08/13/489761605/how-did-trumps-and-clintons-economic-policy-speeches-compare) + + +## Resource Recommendations + +If you have any other articles on Clinton's economic plan, please post here or [PM me](https://www.reddit.com/message/compose?to=jambarama&subject=Clinton%20Megathread%20Suggestion) and I'll get it into the body. Articles must be written by an economist, rely heavily on analysis by an economist, or include simple fact checking of economic claims. +**I’m not a financial adviser and this isn’t financial advice. I just have a knack for explaining things and lots of people have asked about this topic so I thought I’d share my own personal thoughts.** + +# The bull thesis + +To date, the GME play has been pretty simple: buy and hold and wait for the squeeze, whether that comes in hours, days, or weeks. Try not to have a heart attack during the intermittent gamma squeezes, keep your hands diamond strong during the manipulated downward spikes, and buy baby buy. + +It’s rapidly becoming apparent that we will soon enter the GME endgame. Before you can come up with an exit strategy or, if you’re still on the fence, decide whether to jump in, you need to form an opinion about the GME bull thesis, *without considering the short squeeze*. Your thoughts on the bull thesis will dictate how you play it from here on out. + +One braindead simple way to calculate a fair stock price for a company is to use a "times-revenue" valuation. You take the company's revenue ($6.466B in 2020) and multiply by some magic number (often 0.5 for low-growth companies and 2 for high-growth companies), then divide by the float (number of shares available to trade, 50.65M). A times-revenue multiplier of 0.5 gives a GME stock price of $64, while a multiplier of 2 gives $255. + +This isn't a particularly sophisticated method but whatever, I'm not a particularly sophisticated investor. + +Working backwards, if Melvin Capital thinks that GME is overpriced at $20 then a times-revenue valuation would suggest a multiplier of 0.16. That's extraordinarily low for a retail business. If you applied that multiplier to Best Buy ($43B revenue in 2020, 231.59M float) you would get a stock price of $30. Best Buy currently trades for $115, which works out to a much more reasonable multiplier of 0.62. + +What multiplier is correct? Well, the bulls point out: + +* Ryan Cohen (13% stake in GME, sits on the board) has a great e-commerce success story with Chewy, his previous company. +* Three new successful e-commerce board members from Cohen's firm were added to the board in 2020. +* Despite being a brick-and-mortar business and the pandemic, Gamestop's balance sheet isn't bad. They have approx. $550M in debt, but more than that in cash (net cash positive). They have minimal risk of default or bankruptcy in the near future, even without any change to company direction. +* Their traditional core business of game and console sales is not shrinking as fast as many people expected, with major new consoles still supporting optical discs and digital game downloads not accelerating as fast as feared, possibly due to stagnation in the ISP industry. So even if Cohen and his board seats take a long time to roll out new changes, the company is in little danger of any sudden spiral. + +So is Melvin right and GME is a dead-end company with no growth potential and should be valued with a times-revenue multiplier vastly below its competitors? Or is it more appropriate to think of it as a brand new business, being spring-boarded off the healthy books of an existing brand by a successful e-commerce businessman alongside a revamped board? + +How you judge that determines your exit strategy. + +# Exit strategy 1: Just along for the ride + +Maybe you don't care at all about GME's balance sheet or Cohen's planned turnaround, you bought a couple shares on a whim to be part of a unique movement. You don't intend to be a long-term Gamestop shareholder nor do you really care if you miss out on the highest peaks, so long as you make a few dollars and get to say you were part of the squeeze. + +If I were this person, what would I do? I'd pick a number between 0 and 3 that I feel represents my confidence in the retail market's current expectation for Cohen and GME, and multiply it by 128. I'd submit a limit sell order for all my shares at that share price. + +# Exit strategy 2: Pants-shitting fear + +You've got a handful of shares and maybe some options and you're up big. You don't know much about squeezes or fundamentals or greeks and every time there's a dip and the stock gets halted you shit your pants and your finger hovers over the sell button. But then the price jumps up and you wipe the drenching sweat off your face and promise to hold firm next time. + +If I were this person, what would I do? I'd sell all my options that expire sooner than 30 days at market open to reduce the number of pairs of pants I'm going through. I'd keep all my shares and longer-dated options until the news comes out that the shorts are being liquidated. And I'm not watching hedge fund managers get on Fox Business or CNBC or whatever, I'm following WSB and Twitter for rapid fire updates about short volume. If the short volume as reported by WSB posters drops below, say, 50% I'm selling everything and getting out. I might also pick a maximum times-revenue multiplier (something pretty high, like 4 or 5) and use that for a limit sell for shares. + +# Exit strategy 3: Diamond hands + +You've got bigger balls than most, and this isn't your first time dumping a significant fraction of your net worth into a company whose financials you've never looked at. You want to ride it to the peak, if at all possible, and you want to impress the pants shitters and the weak-kneed with your maximum gains. You are ok with increasing your cost basis to squeeze out extra tendies on the way to the top. + +If I were this person, what would I do? I'd sell my weeklies on open tomorrow and immediately plow every dollar of those 20-bagger returns into shares. If my longer-dated options were purchased at extreme IV I'd do the same for them, otherwise I'd let them ride. I wouldn't sell a single share until the final squeeze, when news comes out that Melvin is done, and then I'd unload (in my pants). See you on the moon, brother. + +# Exit strategy 4: u/DeepFuckingValue + +IF HE'S STILL IN I'M STILL IN + +# FAQ 1: Is it too late to get in? + +The best way to judge this is by looking at the exit strategies. Which person are you? If you're (1) then sure, buy a share or two to be part of a once-in-a-decade event, but think of it as a fun expense - a ticket to ride the squeeze train - not an investment. If you're (2) then hell yeah buy those shares baby but avoid options unless there's a dip. If you're (3) or (4) then you're already in and lying to your wife about how deep. + +# FAQ 2: Was that the squeeze?! Is it over? + +This must get posted every time there's a gamma squeeze. It's midmorning and price suddenly launches into the stratosphere, trading halts, and it crashes back down. No, that wasn't *the* squeeze. Gamma squeezes occur when options prices are rising (due to sudden increased options buying or volatility) faster than market makers can hedge. They're good to get your heart racing but a short squeeze is slower and more stable. + +# FAQ 3: How high will it go during the squeeze? + +Who knows. $500? $1000? $2000? There's really no way to know. If you have the stones to get those max tendies then you should focus on listening to the emerging news about Melvin Capital and Citadel rather than watching the price. Sell when they're covering and not a moment before. That will be the peak. + +# FAQ 4: How long will this take? + +Could be tomorrow morning, could be tomorrow afternoon, could be next week. At the rate that shorts are losing money it won't be much longer than that. If you're not in yet, this is the final boarding call. + +# FAQ 5: Who will buy our shares at the peak? + +The idea behind selling at the peak isn't to sell your shares to another retail trader, but to sell your shares to the desperate short sellers who are forced by their prime brokers to liquidate their positions at any cost. That's the difference between a perfectly legal and time-honored short squeeze and a pump-and-dump. This isn't about irrationally driving the price upwards with the hopes of selling to a bigger idiot, it's about buying and holding and waiting for the shorts to crack and beg us to sell to them. + +# FAQ 6: What is the next stock? + +Get this thought out of your head. Yeah you just joined WSB and made a few bucks and now you think you found yourself an investment club. **No**. This is a forum for folks to share their risky trade ideas, not a place to coordinate to manipulate the market. Yes, at the moment the consensus is that we can make a boatload of money off of dumbass hedge funds, but think of it less like a pack of draft horses following a path and more like a room of angry, shitting monkeys who happen, for the time being, to be throwing their shit in the same direction. + +# FAQ 7: Am I gay? + +Many of us grow up to assume that we’re straight only to find out, later, that we’re not. Sometimes, we realize this because we have sex dreams, sexual thoughts, or feelings of intense attraction toward people of the same gender as us. However, none of those things — sex dreams, sexual thoughts, or even feelings of intense attraction — necessarily “prove” your orientation. There are a few different forms of attraction. When it comes to orientation, we usually refer to romantic attraction (who you have strong romantic feelings for and desire a romantic relationship with) and sexual attraction (who you want to engage in sexual activity with). Sometimes we’re romantically and sexually attracted to the same groups of people. Sometimes we’re not. For example, it’s possible to be romantically attracted to men but sexually attracted to men, women, and nonbinary people. This sort of situation is called “mixed orientation” or “cross orientation” — and it’s totally OK. Bear this in mind as you consider your sexual and romantic feelings. + + +Edit: +- Thank you for all the awards and comments! +- I didn’t write the gay part at the end. Read more [here](https://www.healthline.com/health/am-i-gay) if you’re... ahem... curious. +- For the new folks who keep trying to fondle my balls, I’m not some genius or WSB autist-in-chief, I’m a bit player. I can’t get intercede with the mods or whatever you want me to do. +- Stop messaging me asking what you should do. Yes, Melvin Capital has been reported to have covered. You have to decide for yourself whether the squeeze is underway or complete and you should exit or whether you want to hold out for more, or take some profits and hold, or whatever. I just gave you a rough guide and some explanation of different thought processes, you have to make the call for yourself. + +**Important:** This post is very outdated now but it’s still getting comments, so if you’re just seeing this for the first time make sure you’re caught up on the current state of the market and all the other, more recent posts about GME. +I bought my first property this week! +Nothing special just a 1 bedroom apartment. +The best part about it isn’t even ‘owning a home’. +It’s the feeling that I no longer need to feel anxious that all of my disposable income needs to go towards saving for my deposit. +I can actually set a ‘normal’ budget that meets my mortgage and my bills and now I can now take that holiday without guilt, go out for that nice dinner knowing I’m still building something. +I really do feel like there’s a hidden cost to the economy in this way from house prices. +Either way very happy. +Welcome to the **/r/EthTrader** Daily Discussion thread. The thread guidelines are as follows: + +*** + +- Follow the Golden Rule. All other rules apply as well. Follow [this link](https://www.reddit.com/r/ethtrader/about/rules) to view the rest of them. The rules page is also linked in the announcement bar above. +- General discussion topics include, but are not limited to, events of the day, technical analysis, alternative Ethereum projects, or minor questions. +- Breaking news or other important content should be submitted as a separate post. +- In-depth altcoin discussions should be referred to the /r/CryptoCurrency discussion thread. To view the thread, [follow this link](https://www.reddit.com/r/CryptoCurrency/search?q=%5BMonthly+General+Discussion%5D&restrict_sr=on&sort=new&t=all) and choose the latest entry on the search page. +- Pumping, venting, trolling, or any other similar behavior should be redirected to the /r/CryptoMarkets trollbox thread. To view the thread, [follow this link](https://www.reddit.com/r/CryptoMarkets/search?q=Trollbox+Thread&sort=new&restrict_sr=on&t=all) and choose the latest entry on the search page. + +*** + +Thank you in advance for your participation. Enjoy! + +Hey everyone, + +Looking for a bit of guidance, hopefully my story makes sense and is okay to be posted here. I've been working in sales for a local company making decent money for about 3 years now. I get about 40k before commissions, which in good years normally brought me up to about 55k-60k. However, right before the coronavirus hit, I had been struggling to reach goals for a few months and thus was being targeted to be let go for not performing high enough. Once coronavirus hit, the corporation which owns where I work put a freeze on all layoffs or firings, so my job is safe (for now). + +Now 6 months later, I'm technically still on their "performance plan" from before the virus, which is their way of saying if I miss goal again I'll be let go, but the freeze from corporate is also still active. Sales for the entire company are down 40% from last year. However, I have been one of the top performing reps in my department through the entire virus (though still not hitting goal, almost no one is), so I was starting to feel confident I could hold the job a little while longer, at least till things clear up and more opportunities arise again. However, last week I received a buyout offer for about $17k (About 4 months pay+ paying all my leftover time off), plus they'd pay my and my wife's health insurance for 4 months, and I could file for unemployment. As generous as it is, it made me feel if I say no, they may turn around a month or two later and fire me with only a small severance at most. + +This has spurred me to begin looking into alternate careers. Sales has really burnt me out, nothing is ever good enough and your past accomplishments mean nothing. I don't find the work stimulating anymore. Of course, now that comes with figuring out what I want to change to and making that happen. I've been interested in programming, and have begun a bootcamp to learn that quickly, but it will take 3-6 months by their estimates to complete a basic certification, and who knows if that's enough to actually start getting decent income on. + +So, my situation is: Do I stay with my current company while trying to learn coding as fast as I can, do I look for another sales gig to keep me afloat a little more safely while I learn, or would it be plausible to find something in a non-sales field now with just a bachelors in business? My wife brings in some money and we have some savings, so we'd be okay for 4-6 months but dipping into our savings pretty quickly if I take the buyout and can't find another job. + +My other question for you all is, if I take the buyout, does that look bad on me like a firing does? I've never lost a job before. + +&#x200B; + +Appreciate any and all advice, trying to stay positive but it's quite a big moment I feel and I'm not sure what to do. + +&#x200B; + +**Edit**: thank you to everyone for the advice! I was not expecting nearly this big of a response but it's really encouraging to see, and you've all been a great help. Sometimes people with an outside perspective can be really helpful for personal decisions. + +After reading and discussing many of your thoughts with you all, my wife reading many comments here, and her and I having a discussion, we've come to agree with pretty much every single responder, and take the buyout. I'll probably work on getting qualified for something more like a sales engineer or another customer facing more tech oriented goal. + +I did receive some extra info from hr which likely answers many peoples questions: I would be staying on until 10/16, basically giving me 3 more weeks of runway to find a new gig. She's confident I'll be able to get unemployment because we'll both be signing confidentiality agreements, but to be honest I'm not so confident in that. It doesn't change the outcome though, even without UI, the buyout is the safest route. + +Also want to throw a special thank you to those of you keeping my coding expectations in line, I've altered my short term goals with it all in mind. I'll be working on learning the basics for now, and using that to the best of my ability to wheel into something more technology focused. +My wife and I recently went through the process of building a new custom home. Throughout the journey every supplier, store, and contractor we dealt with was 100% local and recommended to us by our builder or realtor. Hoping some people can pitch in with their own experiences on this, most likely relating to renovations. + +Lights: +Local gallery with tons of inventory. Everything was 3-5x more expensive than any big box lighting store in town. We had a budget through our builder so decided to just go with it. Their site claimed “price match guarantee”, however, not a single item on their site was branded or had a visible manufacturer. Everything was “chandelier, 12 bulbs”, “sconce, 18 inches”. Wonder why… Our assistant went on maternity leave halfway through and half of our lights ended up being incorrect or the wrong color. Closed on weekends, had to stop by during lunch breaks. Fun! + +Fencing: +Local contractor. Couldn’t reach him half the time. Would tell me he would come by next week to get started, then next week, then next week. Found out this morning that he is not coming by today as he is now in Florida on vacation and will start “next” week. $3000 deposit paid last month. Great so far. /s + +Tiles: +Local business. Helpful people working there but messed up our order. Later went to a big box tile company and found that we could’ve gotten similar or better tiles for a third of the money. 9-5, closed on weekends and Monday’s. Lunch breaks again. Sigh. + +Appliances: +Local business. Sold us on a brand bundle as we would get 15% off as a rebate upon delivery. The discount was found to be invalid as it did not apply to new construction homes. The employee was close with our builder and had worked with them for years. Missed out on a $1200 discount. Found out later that the place is run by hardcore Christian conservatives and several (insane candidate) political rallies are held there. Free country, but I would’ve noped out of that one if I had known. + +Rant over. Money is money. Employees at your local Lowe’s/Home Depot are your neighbors as well. + +- - - - - - - - - - + +EDIT: To be clear, the takeaway was simply that local companies didn't give us any better service for the substantially higher cost we paid. We were aware that we were overpaying throughout the process but thought it was for the best in terms of service and local support. It was our own personal home so we did not care about cutting corners with everything. I'm not mad, just surprised that it was such a sour experience. + +As for that political/religious appliance store comment that bothered some... We are talking campaign busses parked in their lots 24/7 with "aliens among us" and "communist deportation" crap written on them. Again, I respect their personal right to do that, but I'll buy my fucking microwave elsewhere, lol. +About six months ago I married an incredible woman. She’s the girl of my dreams and also happened to be very wealthy. We are already past my fatfire target number that I had prior to getting married. + +The marriage is going great, my career is going well, but I am struggling with a lost sense of value / purpose. It doesn’t matter how hard I work or how well my career goes it won’t impact us financially. + +As a man who grew up in a traditional home I feel like I’ve lost the opportunity to be a provider. I’m struggling to find purpose at work and feel like I’ve lost value. + +I know I need to find value in places outside the workplace, but I find myself struggling. Anyone else been in this space? How did you handle it? +A pretty good segment with Chamath Palihapitiya who apparently took a $100k call position in GME "to learn". + +[https://twitter.com/chamath/status/1354089928313823232](https://twitter.com/chamath/status/1354089928313823232) + +&#x200B; + +The bottom line was that Chamath was pushing the point that Hedge funds have had the advantage until now, but with social media being where it is, a bunch of retail investors with a cellphone can take the other side of a trade and be effective at it. + +&#x200B; + +I felt that Scott Wapner was pushing for him to admit that GME is horribly mispriced, which it really is on massive scale, but Chamath did not give him that, instead pushing the narrative that the hedge funds being 200% short the float is what is really wrong and the time has come where retail traders are leveling the playing field. + +This is indeed a watershed moment in the markets, things are not going back to where they used to be. + +I am really concerned that the SEC is going to take some unfair action like they did back in 2001 when they decided you need $25k minimum to daytrade. +My goal is to live off dividends by the time I am 40 years old. I am currently 24 and have roughly 30k a year in investable income. What do you think my best course of action is over the next 16 years to achieve that goal, and is that goal even realistically achievable at my income level? Thanks in advance for your time. + +Edit: This is an awesome community and I appreciate all of you very much. + +Edit 2: Have read all comments and thank you all but simply can’t reply to all. So much knowledge here and thank you for the warm reception on my first post. +I know many people, especially in my age bracket (19-22), look forward to tax season for this reason. Some even plan for large purchases once the check arrives. Why is getting your money "back" something to be excited about? Isn't giving paying too much in taxes a bad thing? + +Edit: I appreciate all the responses. Will read through them later. +Hey guys! My name is illbus and I'm 15 rn. My school is planning a trip to Tokyo, Japan in ~14 months, and I don't think my family can afford to pay for it. I'm willing to do anything (legal) to make the money myself since (a.) I really hate burdening others with my problems, and (b.) My mother is more likely to say yes if I'm able to get the money myself. If I could, I would get a job, but there's not a ton of places to work as a 15 y/o in a prominently older city. + +I'm good at photo retouching, but no one wants to hire a 15 y/o with no experience. I've also worked with scanlation teams (people who voluntarily translate Japanese manga to other languages) as a proofreader. Currently, I have almost 80$ saved, which is less than 1% of the amount I need. + +If possible, I'd also like to help others be able to go since I like helping people, so if you have any advice about that, please let me know. + +I really appreciate anyone who answers and tries to help. +I shared some of my story in a comment a few weeks ago. I thought it would be good to expound a little bit to encourage those of you that are just getting started. First of all, I encourage all of you to enjoy the learning process. The thing I love most about dividend growth investing, besides the monthly income, is the education. This sub reddit has furthered my education in the last couple months, which is so great! + +Before I continue I do want to point out that at some point in time I threw probably most of my savings at Dividend Growth investing and I also had weird circumstances the last couple years that allowed me to invest more than I normally would be able to. I do feel like I'm a little late to this game, but better late than never. ***Some people may be discouraged and think that they may not make enough income for this sort of investing. However, habits and mindset are important and you want to have these in place if you have opportunities to make more income in the future. If you are ever going to get ahead, you need to start somewhere. And you need to start sooner, not later. Also it's been my experience that investing and wanting to see your yearly income grow can drive you to try to make more income. Lastly, compounding income does amazing things.*** + +Prior to learning about dividend investing, I hadn't invested much and my strategy was terrible. Typically I would purchase a stock like Apple at a somewhat high price, hold for a few months while I grew inpatient only to sell at a much lower price. Because of this, I convinced myself that the only people that made money in the stock market were day traders. + +Summer of 2019, one day on YouTube I ran across a video by Andre Jikh. I hadn't previously watched any of his videos but for some reason the title of this one video stuck out to me and I watched it. He talked about how he was investing in stocks that paid dividends in his Robinhood account. After watching the video, the lightbulb in my brain turned on. I loved the idea of monthly income. It made sense to me. I loved the idea that I could retire and live off of the dividends instead of selling off the principle of my retirement to pay for my living. And I loved the idea that I could see income from it right away. I could see this thing grow and compound through income that I was generating every month. Amazing. I started buying dividend stocks in my Robinhood account. + +In one of Andre Jikh's videos he talked about Simply Safe Dividends, which is the platform I use to track my stocks. They provide reports on any changes with the holdings that I have along with a pretty helpful rating system. Even though it was expensive at the time, $400, I felt like just as soon as I could, this subscription would not only help keep me out of trouble, but would provide me with a lot of education and also encourage me to keep investing. It's cool seeing the yearly income number grow every week. + +Eventually I ran across another YouTube Channel called the Joseph Carlson Show. I love how Joseph thinks. I quickly saw the advantages of using the M1 Finance platform that he talked about with their pie system. So I sold my stocks in Robinhood and repurchased them in M1 (It somehow worked out and I didn't know how to move them at the time). + +I continued to learn as much as I could. I bought a lot of stocks based on the resources I had listening to Joseph Carlson, Dividend Data and seeing what Simply Safe had to say about things. I stopped listening to Andre Jikh very much because he seemed to veer off more into growth stocks and then today it seems like all he talks about is Crypto, not dividend stocks at all. Things change, people change and certainly this has been a weird year. 🙂 + +In 2020, March through May was obviously a hard set of months. My income went way down but every penny I could get a hold of I used to buy the dip. Summer of 2020 when my income started going back up, I used some of that money to buy growth stocks. It was a distraction from my overall strategy of dividend stocks, but it certainly helped me grow my money quickly. This last year has been unlike any other so I don't really recommend buying growth / tech stocks the same way I did last year. I've since sold those things to put back into my dividend portfolio. December of 2020 I bought some Bitcoin and then I sold it several months later to add to my dividend portfolio as well. Not sure that's something I would recommend either. + +One thing I did in 2020 that I'm really glad for now, is I invested a good bit into the energy sector. Those stocks have grown pretty considerably since I was able to purchase them at good prices last year. + +Today I'm sitting at $350,000 in stock value in my M1 account. 69 holdings. $13,470 per year in income. Beta of 0.83. Dividend Yield of 3.84%. Today I continue to learn by reading this sub. This sub has made me aware of more educational resources on YouTube and has also opened my mind to the idea of different kinds of dividend paying ETF's that I may explore soon. It's rad having a community where you can see each other's stories and be encouraged by them to keep going. + +In closing, here are some things that I've learned and some things that I want to encourage you guys with: + +* Enjoy the learning +* Create a playlist and listen to good dividend investors on YouTube whenever you get a chance +* Invest regularly +* Set small goals for yourself to increase your yearly dividend income + +Hope this is encouraging. I have no idea. Sorry that it's kind of also long winded. 🙂👍 + +Thanks mates. Happy dividend growth investing. + +**EDIT:** I've had some requests to see my M1 Pie. It says that it won't let me share my whole pie and I can only share slices 😕. Here you go: + +Energy (17.5% Actual / 12% Target): [https://m1.finance/l4uX6ziSo0Rg](https://m1.finance/l4uX6ziSo0Rg) + +Real Estate (15.9% Actual / 12% Target): [https://m1.finance/uOxFsYC\_egfg](https://m1.finance/uOxFsYC_egfg) + +Consumer Staples (14.1% Actual / 15% Target): [https://m1.finance/8E4kCu6kCZxT](https://m1.finance/8E4kCu6kCZxT) + +Healthcare (9.8% Actual / 9% Target): [https://m1.finance/lWU4ElnCx8vB](https://m1.finance/lWU4ElnCx8vB) + +Industrials (8.5% Actual / 9% Target): [https://m1.finance/BM5ipBH9eXPd](https://m1.finance/BM5ipBH9eXPd) + +Utilities (8.3% Actual / 10% Target): [https://m1.finance/iU7p4i1Vm4or](https://m1.finance/iU7p4i1Vm4or) + +Financia (7.8% Actual / 9% Target)l: [https://m1.finance/zm6mvNzkNdFp](https://m1.finance/zm6mvNzkNdFp) + +Technology (7.2% Actual / 9% Target): [https://m1.finance/Am8z0tkb0ANa](https://m1.finance/Am8z0tkb0ANa) + +Consumer Discretionary (5.7% Actual / 9% Target): [https://m1.finance/uCUKBxrPyII8](https://m1.finance/uCUKBxrPyII8) + +Communications (3.9% Actual / 5% Target): [https://m1.finance/G8j\_Bw3vk\_ag](https://m1.finance/G8j_Bw3vk_ag) + +Materials (0.7% Actual / 1% Target): [https://m1.finance/mb-Fh14ldLmt](https://m1.finance/mb-Fh14ldLmt) + +**EDIT 2:** Because so many stocks seem very inflated these last many months, I put a high threshold on Auto-Invest so that as dividend income comes in, I can make my own purchases on stocks that may be a better deal right now. I've been putting a lot more focus on my Consumer Staples pie (HRL, KMB, KR, MO, WBA, TSN...). Buying up stocks of boring companies where people rely on their products. + +**EDIT 3:** What makes M1 Finance kind of unique is their pie and reinvestment system. You setup your sector pie and stocks within each slice, and then as you get dividends, those dividends are automatically reinvested into the pie wherever your are underweighted. Traditional brokerages seem like they do more of a drip system, if you set it up, which will have your dividends purchase more of the stocks that the dividends came from. I suppose there are pros and cons. You can always turn off auto-invest in M1 Finance and just invest the dividends into whatever stocks you like. + +Another reason that I like M1 Finance is the ability with their Plus account to get 1% interest on any monies I have holding in my Spend account. And then if I needed to borrow money against my portfolio, I could do that at 2% interest. + +I think that M1 Finance is geared toward the long term dividend growth investor but I wouldn't call it a must have. For stocks that I've purchased purely for growth and not dividends, I use either TD Ameritrade or Fidelity. With M1 you only get 2 trade windows per day (with Plus), which means you can't really buy or sell quickly if there's an opportunity. But I like it. And the M1 app is really great. + +**EDIT 4:** Thank you everyone for all the upvotes and rewards! Too kind. + +**EDIT 5:** The Title may be misleading to say "$350k invested". In the last 1.5 years at my current brokerage, I've experienced about $78k in gains. Around $65k in market gain and about $13k in dividends earned. So more accurately I have somewhere around $272k invested. It's obviously a lot of market gain and that's just because of the craziness that we've experienced in the last year. The reality of my first 6 months doing dividend investing was that I didn't really see a ton of gains. But when I started seeing dividends coming in, that's what got me excited. The value of stocks go up and down. But those dividends are something special. + +**EDIT 6:** Per request I'm posting my holdings. Disclaimer: I am still a noob. However, I think you can see that most of these stocks are pretty boring, relatively safe dividend payers. Here's what I have by order of greatest to lowest percentage in my portfolio: AVB, O, XOM, EPD, CVX, MMP, PBA, MO, BEN, MAIN, VZ, GPC, HD, MCD, KMB, IBM, MRK, ABBV, UGI, OGE, PBCT, DIS, WBA, SNA, ORCL, STOR, HRL, CASS, MSM, JNJ, PFE, CTBI, NFG, GD, KR, ED, AEP, LHX, TXN, MDT, DUK, GILD, CSCO, VTRS, CAH, PM, AOS, PSA, LMT, AAPL, PEP, TSN, FRT, AVA, DLR, ADM, HSY, WPC, MMM, GIS, EBF, SJM, CL, PG, NAT, HCSG, SWM, UNP, WM. + +&#x200B; +Hey guys, I was scrolling through social media and stumbled upon a tiktok video. The dude in the video was saying things like boomers at this age owned something like 25% or like 20% of the world's wealth whereas millenials own only 4%. He went on further to say stuff like that because the avg millienial earns $35000, it is practically impossible for them to own property due to boomers buying all the house and getting the prices up. + +He went on to say that back then you could live without a college degree and that most people could live a decent life just working in a store or something. + +Is this true? Did a boomer who was in their mid 20s to 30s really have a better life than the avg person who is mid 20 to 30 now? +Hey guys, I have a close relative who's thinking about becoming a doctor, and I was wondering how much that pays? Like how much would a GP make in a year or something that takes more time. Is it worth it after all the studying? +Welcome to the **/r/EthTrader** Daily Discussion thread. + +*** + +The thread guidelines are as follows: + +- All sub rules apply here. Please review our **[rules page](https://www.reddit.com/r/ethtrader/about/rules)** to become familiar with them. The rules page is also linked in the announcement bar above +- General discussion topics include, but are not limited to, events of the day, technical analysis, alternative Ethereum projects, or minor questions. +- Breaking news or other important content should be submitted as a separate post. +- In-depth altcoin discussions should be referred to the /r/CryptoCurrency discussion thread. To view the thread, [follow this link](https://www.reddit.com/r/CryptoCurrency/search?q=%5BMonthly+General+Discussion%5D&restrict_sr=on&sort=new&t=all) and choose the latest entry on the search page. +- Pumping, venting, trolling, or any other similar behavior should be redirected to the /r/CryptoMarkets trollbox thread. To view the thread, [follow this link](https://www.reddit.com/r/CryptoMarkets/search?q=Trollbox+Thread&sort=new&restrict_sr=on&t=all) and choose the latest entry on the search page. + +*** + +**[EXPERIMENTAL]** - To view live streaming comments for this thread, [click here](https://reddit-stream.com/comments/auto). Account permissions are required to post comments through Reddit-Stream.com. + +*** + +Thank you in advance for your participation. Enjoy! + +[Investopedia defines passive investing](https://www.investopedia.com/terms/p/passiveinvesting.asp) as a buy-and-hold strategy with minimum transactions. [Kuvera uses similar definition as well](https://kuvera.in/blog/what-is-passive-or-index-investing/). + +Investing in Index-linked assets (ETFs or Index funds) can help you reach that "passive investing" zenith, but there's more than that to passive investing than just investing in a Nifty or S&P 500 index fund. + +Index is an _ever-green_ asset, you can count on it to not under-perform the market over long periods of time, by definition. It helps you achieve passive investing. But if you try to "time the market" with your index fund / ETF, then even if you're investing in the index, it's not a passive strategy. + +In this write-up, we'd focus primarily on index investing. + +--- + +**Wait, yet another index vs active thread??!** + +No, this won't be one of those threads where someone posts a link to SPIVA report or lists CAGR of various bluechip funds vs UTI Nifty Index Direct Growth over 1Y / 3Y / 5Y / 7Y / 10Y period. And then claims only x% of funds has beaten the index. + +This isn't how people invest, fund's CAGR aren't investor returns. + +Rather, we'd look at some real world scenarios that closely mimics how people actually invest. + +--- + +**So how do real people invest in the real world?** + +Imagine being someone who wants to start investing in equity. You'd probably ask friends / relatives / LIC uncle, or sign up on one of those hundreds of platforms, or might as well google "top mutual funds" / "top ELSS funds" / "5 star funds". + +After some googling, YouTubing, and asking around (offline & online), you'd settle on 3-4 funds. + +And that's the part I want to focus on: where _you'd inevitably pick more than one fund_. + +Even if one or two of them indeed continue to be great, overall your portfolio would achieve high correlation with an index, and more likely to underperform it. + +And over time, as you'd review your portfolio, lose faith in some of the picks, you'd add new funds, maybe sell units in a fund or two. After 5-6 years, you'd have a hodgepodge portfolio of bluechip / emerging bluechip / multi-cap / smol-cap / mid-cap / contra / value / global / quant / PE / opportunity funds and other exotic products. What are the odds this entire portfolio does better than broader market? + +--- + +**Come on, how can you possibly know that? This is just guesswork!** + +That was my intuition, but as we get more and more people on the subreddit / discord share their portfolio details for review, I see it happening for real. + +Just 2 days ago, someone in our Discord asked to review their portfolio. They've been investing for ~3 years, presently ramped up and have been investing ~1.4L / month. These are the funds they've been investing in: + +- Mirae Large Cap +- PPLTE +- Axis Small-cap +- Mirae Emerging Bluechip +- Motilal Oswal S&P 500 + +Just from looking at these, one would think given how each of these have performed over last ~3 years or so, it'd easily beat a single Nifty Index fund portfolio. + +Let's clearly define a single Nifty Index fund portfolio: it's a _what if_, simulated portfolio, where all transactions on given date & amount are copied into a single index fund: UTI Nifty Index Direct Growth. I'm **NOT** comparing the return of actual portfolio, against CAGR of this fund. + +I was surprised that the [5-fund portfolio](https://imgur.com/OmPj99x) was actually behind the [1-fund portfolio](https://imgur.com/Ai7IrYh). + +In other words, if OP had just picked a single index fund and called it a day, 3 years ago, things would've turned out better, quantifiably. [Here's the Discord discussion thread](https://discord.com/channels/546638391127572500/547078913751515147/789530982666862642) + +This is only one such case. I've reviewed umpteen portfolios just like that in recent times, and yet to come across a single one that has done better than a 1-fund Index-based portfolio. + +I picked this one, because it looked promising based on the fund picks, that OP had somehow stumbled upon and got lucky in picking funds that have performed well (often better than Nifty TRI) _after_ picking those. And still, as a portfolio, it cannot stand up to gains from a single Nifty index fund portfolio. + +[Here's another example](https://discord.com/channels/546638391127572500/547078913751515147/784335339451187230). + +Another anecdote from a friend who started investing in June: Invested ~3.4L across ICICI Bluechip, Mirae Large Cap, Mirae Emerging Bluechip, SBI Small Cap, Axis Small Cap etc.: even with an XIRR of ~83% p.a. (markets fool new comers very easily), it's underperforming a 1-fund Index portfolio by ~8k (UTI Nifty Index fund with those exact transactions would've had a 87% p.a. XIRR). + +There are many more stories similar to this, but the broader point stands. + +--- + +**Don't even know where to begin, with everything that's wrong with this analysis!** + +You're right, I hear you. Cannot just check a comparison on a particular date, and conclude anything from that. If I check 6 months later, or 6 months ago; it could just as well be opposite. The multi-fund portfolio can be ahead of the single Nifty index fund portfolio. + +However, that wasn't the point I wanted to make. + +Look at the broader idea: _Most equity funds perform in-line with Indian equity benchmark_. + +Even if you pick US equity fund that has lower correlation, and mimic Nifty; for first few years of your investments, that won't be much _different_ at portfolio level, in absolute terms. + +By _different_, I mean your portfolio at times, can be ahead of the 1-fund Index portfolio, or behind; but the difference would be quite small. Small enough, that there's little to no downside to picking a single index fund and continue with that for few years. + +I'm focused on _price of being wrong_ in your picks, with something akin to _linear approximation_ + +--- + +**Returns aren't everything. What about risk-adjusted return, average volatility, drawdowns etc.?** + +I assure you, none of these investors know or had any of these in mind when they picked multiple funds to start their equity journey with. + +They wanted returns, they wanted their corpus to grow. While these are novel goals to have, these portfolios were not creates or designed with any of that mind. + +That's called _shifting the goalpost_. + +Reducing drawdown for someone who has been investing in equity for long term, and doesn't have any need for that money any time soon, makes no sense. It's probably a "good to have", not a "must have". + +It's of more value they build and take their corpus to a level where these become important enough to their portfolio, in absolute terms. + +--- + +**Wouldn't that be too volatile? A single equity fund. I don't feel comfortable with this.** + +All equity funds invest in markets, all equity funds are volatile. Markets are always volatile. You'll gradually get used to it, as you start seeing big crashes & red in your portfolio. + +As for single equity fund, if you pick a single active fund, I'd be worried. It's possible it turns in to a dud a la HDFC Equity or DSP Tax Saver, while other funds zoom up. + +What are the odds of that happening with an Index fund? Is it possible for most active funds to suddenly start doing lot better and sustain that for some time, while index fund gets left out in the dust? + +--- + +**What are you saying?! No Asset-allocation, no Debt / Gold in portfolio? This is just your recency bias talking, because equity markets have been doing well** + +Asset-allocation is important, but once your portfolio reaches certain level. + +A fun off-topic Physics fact: we don't know if Newton's law of gravitation is correct at smaller scales, because it's so small that even the best modern tools in labs cannot discern between output predicted by Newton's mathy inverse-square formula, and measured values. [Minute-physics has a video explaining this](https://www.youtube.com/watch?v=OTMELHUAzSM). + +When you're just starting out your investments, investing 20-30k / month in SIP, you've almost no corpus, compared to where you could be 20-25 years down the road. + +Your target should be to get through corpus milestones. The first 1L, then first 5L, first 10L, first 50L etc. Then review once you reach, say, 1 Cr. + +You could even have thumb-rules, for example not having debt in long term portfolio until your long term corpus reaches, say, 5x your annual salary. + +If you've 5Cr. portfolio, you could go up or down few lakhs everyday, because of day to day market volatility. At that scale, some Debt / other asset-class diversification helps. Certainly won't want to lose 1 Cr. in a week's correction. + +If your portfolio is 50k, it'd be cute to attempt an asset allocation rebalancing exercise. + +All I'm saying is, if you've size-able emergency corpus, decent fixed income allocation to take care of short term needs; you can start your long term portfolio with a single Nifty / Nifty 100 / Nifty 500 index fund or ETF. + +First few years should be focused on saving & "setting aside" as much as you can in that long term portfolio. + +--- + +**Wow you make it sound so easy. If it's so easy and settled, why are people discussing debating / analyzing equity investments all the time?** + +I didn't say it's easy. If anything, it's hardest of all to not give in to your "intuition" / "feeling" / gut based rationalization. + +When someone picks 5 funds to invest in, it's not because they've done rigorous analysis and found through backtesting that this particular 5 funds / underlying assets of these 5 funds have done better across market cycles. + +No. + +They do it, because it gives them comfort that _if some of these don't work out, at least one of the other ones would_. Except, that might work in case of stocks (you pick 10 stocks, hoping at least one of these turn out to be next HDFC / RIL, even if other 9 goes burst). + +This is primitive thinking, and given how MFs work under the hood, it doesn't work that way at all. + +Hardest thing of all, is to realize your own biases: the decisions you make where you're in control. + +No one likes to confront their own biases, because unintuitive results can be hard to swallow. + +If someone's picking a 5-6 fund set, they should compare it against various set of simulated portfolios, from time to time. + +If someone's selling when markets turn high, and buying more when markets correct a bit, they should compare with a portfolio where those transactions driven by human decision making, didn't exist. + +--- + +**Ok, this was very long and all, why not share a TL;DR?** + +**TL;DR**: Passive investing is about reducing decisions you make. Decisions are sources of underperformance/ outperformance; but most often, they end up being sources of underperformance. + +Always measure your portfolio against a passive portfolio, it may reveal if you're a good or a bad decision maker. +Evidence from the SEBI inquiry are slowly coming into public domain and it doesnt show these executives acted in good faith. The top executives of FT India including Sanjay Sapre, his wife Pradipta Sapre, Vivek Kudwa (Head of APAC at FT), his wife and mother, Aravind Vasudeo Sonde (Trustee at FTIL), Jayaram S Iyer (Listed director of Franklin Templeton India), Venkata Radhakrishnan (also director) all these people withdrew crores of funds from the debt funds, which were then locked for the public. + +Source: https://themorningcontext.com/business/franklin-templeton-top-brass-put-self-interest-first (Pay wall but worth it for those entagled in this mess) + +All of these people who are in the management of Franklin Templeton withdrew funds. On 23 Mar 2020, SEBI approved additional borrowing in these funds above the normal allowed limit. This was the sign of trouble in these funds, that the management of the fund would be aware of. The funds were then withdrawn by the management after 23rd March 2020. + +I dont want to speculate much, but prima facie these actions seem like text book insider trading (acting on non public information). This information was obtained by SEBI inquiry, but for some reason has not been in the entirely released to public. SEBI has also rejected RTI inquiries even from affected parties. One has to wonder on whose side SEBI is acting. + +Disclaimer: Affected in 2 of the wound up funds. While I believe the funds may eventually be recovered, if the management acted in bad faith, then action as per law must be taken. This rattles public trust and belief in the entire mutual fund industry, and also the larger financial industry. In other countries, bad actors have been prosecuted even if they held very high positions, as and when evidence of their misconduct has come to light. +Welp, long time aspirational lurker. Finally on my way. + +I have done well. I am 27 and worked my way up from $45k to low 6 figures with healthy savings over the past 5 years but just made the big jump. + +Just received a job offer from a FAANG company that puts me at about a quarter mil annually with significant potential for more with stock and commissions. Probably looking at working out the rest of my career here so it's likely only up from here. + +I will be moving to a H(ish)COL area but not NYC or San Fran expensive so its manageable. I own where I am now and have about $60-70k in equity so that will be a nice payday too. + +So what now? I am looking at employment attorneys to look over my offer and ensure no surprises. Do I officially need to get a CPA/ wealth manager now? Any other advice? +The premise is that you can 'defend' a losing position by buying to close at a loss, but then immediately opening a position that is far enough out that the increased premium will make up for the previous loss. + +So, to rephrase this strategy—if you put yourself in a losing position due to poor entry and poor exit, you should now tie up your collateral even longer by putting yourself in an even worse position, and waiting even longer to hopefully break even. + +Let's just call it what it is. A sunk cost fallacy where the trader doesn't want to admit they made a bad call. It happens. Maybe that collateral will be better used elsewhere. Or maybe today's market conditions just aren't right and it'll be better to just wait until tomorrow to open a new position. + +But it's rare that the best strategy is to double down with the same failed move that got you into this position. Sometimes you just gotta take an L. +My (28f) partner (35m) of 3 years had a big argument last night on me trying to get him to pay more rent and try and get our finances in order. + +His monthly total take home pay can be between $8-15k net after tax where as mine is $5,400 p/m net after tax. I did some budgeting and basically after expenses I have $2600 left over to save and play with where as he always has $6k+ to save and play with depending on what kind of month he has with work. + +We have been living together for 1 year now (have no children) and total rent is $3193.75 p/m in Sydney that we split equally. We also split all the food and bills equally and we do that via splitwise. I do all the cooking, shopping and cleaning, he also gets the building parking spot as well. + +We want to buy our first property together but we don't have any sort if savings account together. My partner was pretty lucrative about how much he earned but he was also pretty bad with money when we first started dating. He would just spend it all on random shit and fancy holidays, he barely had any savings. At the start of the year I told him to get his shit together and then it was like "poof" he had 50k in savings and that's when I started questioning his income and found out he literally earns more than double compared to me. + +This is both our first relationship where we have lived with a S/O so we are pretty blind and have no idea when/ how couples start sharing incomes to save money etc. I love him to bits but this splitting rent just makes me resentful towards him as I do majority of the work around the house but he just calls me jealous over him earning more money and just told me to "hustle" more with my job. If this situation was the other way round, I honestly wouldn't care about paying more rent. + +And before you start coming for me about the price of rent, we have to live in this area to make it more convenient for him to get to work where as I wfh so I can live anywhere. + +Is this a fair scenario, and how/when do couples start combining/planning finances? + +Tldr: bf of 3 year earns double compared to me but wants to split everything equally but we have no idea how it works. + +Edit: Thanks for the responses. What I've gathered is counselling in communication is what we need because we both suck at getting our points across and to listen a podcast someone recommended about equity vs equality. +As the subject says, I'm in year 2 myself (since 2020 - can provide verification of current financial situation). Would like to learn from people with significant years of experience about two topics: + +\- money management (how not to lose everything) + +\- life (how to live a happy and fulfilled life w/o money as a barrier) +Hi, my mom and dad came from poor families with 10 siblings on each side. They live in a country with no safety net so everyone is out for themselves. + +My mom siblings have been ruining my family including my childhood. My mom is the eldest and parents dumped the parenting to her. They have been leeching off my mom and depleted my dad’s life saving. + +Now my parents in their 70s, they turn to us. I am becoming their primary target. I just got the sob story from my aunt on how she’s about to be homeless/starving and needs $500 a month to survive. Another said his kid needs to go to college and want to sell her house to me at ridiculous sum. I have no use of the house and it’s in the bad shape/location. + +Honestly, this is such a triggering moment for me. All my childhood, I witness this badgering and manipulating. Poor my dad that my mom squandered most of our family money to her relatives. + +I don’t want to be enabler and taking over my mom’s role here. But on the other hand, I do believe one of my aunts will be homeless but I know once I open the pocket, this will be the beginning to an end. + +I don’t want to be cold hearted but deep inside, despite blood relative, I hate for what they are doing to my family. I mean I am willing to donate to charity to help struggling kids to get education, to a worthy cause. Taking over my mom’s role as a provider for her siblings (who don’t work and don’t save) is not a worthy cause for me. + +Any help to reconcile this conflict will help. I told my husband , maybe I just do one time donation to my aunt and that’s the end. But this is how it started for my mom too…a little help turns into a lifetime of responsibility. +I am 13 years old and run a side hustle and own shares. +All of my classmates bully me for making money, calling me "Lame" and "No fun" and "Rich kid". +Is it wrong for me to want to get a headstart in life?. +Why are dividends seen as so valuable? They are not free money and provide less growth. Usually higher yield means less growth. + +I might be misunderstanding but if I had a $100 share with 5% yield, would that not just turn into a $95 share with a $5 dividend. I still have $100 in the end. +This is the equivalent of selling 5% of a stock with no dividend. + +I understand dividends are great for older investors to use as income, but it confuses me as to why so many people my age, 20's, buy and recommend things like JEPI and QYLD. These etfs may have high dividend yields, but they have very poor growth. These etfs perform very poorly, in the long run, compared to something like VOO or VTI. + +Wouldn't it make more sense for someone in their 20's to go 100% VOO/VTI? + +Is there something to dividends im missing? +Procter & Gamble (PG) is the [winner](https://www.reddit.com/r/dividends/comments/r7dru5/battle_royale_final_round_who_do_you_think_will/?utm_source=share&utm_medium=web2x&context=3) of our Battle Royale. Thank you everyone for participating! Moving forward we will do smaller, more concentrated battles such as the top REIT, ETF, high yield asset, etc. Please let me know if there is something you'd like to see for the battles. I will make a post before each one to get everyone's recommendations for which tickers should be included in the battle. + +Here is some info on our winner PG: + +Current Share Price: $149.88 +Dividend Yield: 2.38% +Dividend Frequency: Paid Quarterly (Jan, April, July, Oct) + +**Background** +[Procter & Gamble](https://us.pg.com/) was founded in 1837 and is headquartered in Cincinnati, Ohio. PG is in the Consumer Staples sector and operates in [five segments:](https://finance.yahoo.com/quote/PG/profile?p=PG) Beauty; Grooming; Health Care; Fabric & Home Care; and Baby, Feminine & Family Care. PG owns over [50 major brands](https://us.pg.com/brands/) including Pampers, Luvs, Bounce, Downy, Gain, Tide, Bounty, Charmin, Tampax, Always, Gillette, Herbal Essences, Old Spice, Cascade, Febreze, Mr. Clean, Swiffer, Crest, Oral B, and Vicks. PG has over 100,000 employees worldwide and operates in North and Latin America, Europe, the Asia Pacific, Greater China, India, the Middle East, and Africa. + +**Financials** +Revenue: $77.14 Billion +Net Income: $13.87 Billion +Profit Margin: 18.33% +Total Cash: $10.37 Billion +Total Debt: $32.55 Billion +See [here](https://finance.yahoo.com/quote/PG/key-statistics?p=PG) for more key statistics on PG + +**Performance & Dividend** +PG has had an average annual return of [9.36%](https://www.portfoliovisualizer.com/backtest-portfolio?s=y&timePeriod=4&startYear=2001&firstMonth=1&endYear=2021&lastMonth=12&calendarAligned=true&includeYTD=false&initialAmount=10000&annualOperation=0&annualAdjustment=0&inflationAdjusted=true&annualPercentage=0.0&frequency=4&rebalanceType=1&absoluteDeviation=5.0&relativeDeviation=25.0&leverageType=0&leverageRatio=0.0&debtAmount=0&debtInterest=0.0&maintenanceMargin=25.0&leveragedBenchmark=false&reinvestDividends=true&showYield=true&showFactors=false&factorModel=3&portfolioNames=false&portfolioName1=Portfolio+1&portfolioName2=Portfolio+2&portfolioName3=Portfolio+3&symbol1=PG&allocation1_1=100) over the last 20 years with dividends reinvested. An investor that purchased shares in 2001 would have had an initial dividend yield of 1.88% and yield on cost would have grown to 15.06% in 2021. PG is on the Dividend Kings list and has increased their dividend for [64 years](https://www.marketbeat.com/stocks/NYSE/PG/dividend/) consecutively. The current payout ratio is 63.62% and the past three year dividend growth rate is 13.87%. +Some examples: + +* Google News detects a huge surge in search for stories about a specific product. + +* Google's satellite imaging subsidiary captures surface images around the earth. Uses AI to predict weather patterns and then trade oil futures based on it. + +* Google search engine sees an increase in search term "how to save money cooking." Begins shorting restaurant stocks. + +* Google Maps detect a slow down in traffic to Disneyland. Shorts Disney. + +Couldn't Google make billions each year doing this? If they use non-identifiable group data would this be illegal? + +Verizon for example is already using location data to better optimize their travel advertising. Couldn't companies take that one step further and use it to trade stocks? +TLDR: GameStop will issue a carve-out of GME Entertainment, this will be all of the things not associated with traditional e-commerce products. This will issue new stock/tokens onto their blockchain exchange. This precedence was set by the Slack lawsuit ($WORK), and requires a tombstone pr announcement and a share recall/count happens after announcement. I would guess as a dividend they would also issue shares/tokens of GME-E to existing shareholders. Shorts are fucked and brought into the daylight using blockchain tech. Oh and pretty sure I figured out the infamous ice cream cone tweet :) + +We know that GME's hire posts have had "carve-out experience" in them, here are some examples of this: + +&#x200B; + +https://preview.redd.it/aqd7fut7fqq81.png?width=777&format=png&auto=webp&s=f8e3ed747e816b473474a3b43f4aa3af30de4af6 + +&#x200B; + +https://preview.redd.it/6yhd0h6cfqq81.png?width=801&format=png&auto=webp&s=14a563247474305987f05ea6abe89d51f51c032b + +https://preview.redd.it/8ax0kf6cfqq81.png?width=715&format=png&auto=webp&s=743606fc3ab6884ff62b134d331f19ac5d45ab85 + +What does a DPO have to do with a potential GME carve out? What is a DPO? Well mainly carve outs are a way to increase funding for growth companies, typically they are offered as an IPO or a DPO. Essentially the carve-out is usually offered to the public to generate cash and if the carve-out doesn't fit the mold of the parent company's underlying infrastructure. Issue shares/tokens on exchange for cash basically. Some prominent examples of companies who have DPO'd are Slack, Spotify, and Ben and Jerry's (at origin). + +So how is all of this potential carve-out->DPO associated with Slack ($WORK)? Well they just lost a lawsuit against retail because they did not protect their restricted stock and they could not trace the lineage of the shares offered during their DPO. They lost. We won. The burden of proof is on the DTC and they just fumbled a HUGE lawsuit for blockchain tech to take control of securities. We have legal precedence to use blockchain if we think the system is not working fairly in our favor. The number one issue was TRACEABILITY..MASSIVE WIN. + +&#x200B; + +https://preview.redd.it/nnfk08vtfqq81.png?width=722&format=png&auto=webp&s=08791cc8e78e882320cf91719a067d4cf3aa4052 + +Also Cohen tweets about WORK are picking up traction.. his initial one had this sub going crazy down the rabbit hole of slacks lawsuit. + +&#x200B; + +https://preview.redd.it/7w6oaf4yfqq81.jpg?width=825&format=pjpg&auto=webp&s=68150ad294cd0ea5a41f3dc6762d7d8fe8afcf47 + +&#x200B; + +&#x200B; + +[ ](https://preview.redd.it/2ny7g16agqq81.jpg?width=828&format=pjpg&auto=webp&s=8520ca46b193b028d77717bb6886edb6ef573ef8) + +TLDR of lawsuit: Slack didn't protect restricted stock and couldn't trace it and their retail investors got fucked because even the DTC couldn't trace them. If only there was a blockchain exchange that could house this carve-out security......... oh shit. + +So a DPO of their carve-out seems to be the plan. How would it be initiated? + +&#x200B; + +https://preview.redd.it/tkp25vl1hqq81.png?width=766&format=png&auto=webp&s=e4638a27cf1478222d15fdc44894ca386b986ff9 + +Remember this lil guy? + +&#x200B; + +https://preview.redd.it/jom9oaa7hqq81.png?width=704&format=png&auto=webp&s=0d19605b015dc5ad704ff96b8c8be4ef993cada7 + +I wonder who the first person to issue a DPO was, maybe the apple doesn't fall far from the tree eh? + +&#x200B; + +https://preview.redd.it/178q81sbhqq81.png?width=766&format=png&auto=webp&s=4fc2f52a57ebfde2e448b0e6c3c03c451aac5a75 + +&#x200B; + +https://preview.redd.it/nf6evaifhqq81.png?width=593&format=png&auto=webp&s=6fdd8120c75ca26629b6d1f20a8dac1d2a137b64 + +GOT TO BE KIDDING ME. First one to ever do it was B. Cohen who started an ice cream business. BEN COHEN/RYAN COHEN + +Wait a second? I think i remember a tweet from our beloved chair about a cone... everyone tweaking about how an ice cream cone was tied to cycles theories like bro what the fuck r u talking about? I'd guess this is it given his tombstone tweet was posted in the same timeframe. + +&#x200B; + +https://preview.redd.it/hwb0z3zjhqq81.png?width=589&format=png&auto=webp&s=e325c275ee4ae5f9cd87d20e849b5e4b290b2374 + +Also in the tombstone generator Cohen inserted his name as the death date, god mode. + +He is when they die, he is the end game. and literally used a website called "TOMBSTONEBUILDER" he's literally screaming at us "WE ARE GOING TO DPO YOU LOVABLE IDIOTS!" + +Post added for more weight: + +I remember Larry Cheng posting about understanding your customer base as a way to fine-tune how to generate cash whether it be DPO or IPO. Customers that a apart of a loyal customer base (us) usually DPO 9 times out of 10 compared to an IPO. I remember something about exponential growth curves as well that ties into this but cannot find it. + +Hedgies are so fucked, blockchain will be implemented in a DPO, we will all be rich. + +Edit: just realized the sugar daddy tweet as well. Like 50 years ago they were on the verge of bankruptcy (tootsie) and the owners essentially went door to door and had a grass roots movement that had retail almost take them completely private. They became registered shareholders. To this day 75% of all holdings are still retail/non insider. DRS YOUR FUCKING SHARES OR GET LEFT BEHIND!! + +To add more speculation that is entirely just speculation. Maybe they will also issue some of these targeted companies on there as well. Toys R Us/ BBBY/KOSS. + +60s music and pillow fights is BBBY and KOSS -sonographic record of Beatles saved their company? -will they be issued on exchange too? + +7 for 1 offering could also tie into this DPO/Issue as well? (TINFOIL not connected at all besides cohencedence in time) + +&#x200B; + +LAST EDIT: + +A FUCKING STOCK SPLIT ON SAME DAY I FINALLY POST THIS YOOOoOooO. ISSUE MORE SHARES, LET THEM DO THEIR FRAUD EVEN MORE, THEN PUT IT ON BLOCKCHAIN AND WATCH THEM SCRAMBLE FOR EVEN MORE SHARES. LETS GO. + +WAGMI <3 +&#x200B; + +Original article: [https://www.money.it/Fed-repo-miliardi-Wall-Street](https://www.money.it/Fed-repo-miliardi-Wall-Street) + +Translated from Italian to English using Google Translate (Italian Apes, feel free to correct) + +&#x200B; + +**The Fed has guaranteed repo for 400 billion in two days: what happens on Wall Street?** + +By Mauro Bottarelli (Money.it) + + May 12th 2021 + +*After yesterday's $181 billion, today another $209 towards 39 requesting institutions. Is someone running into margin calls that risk turning the snowball into an avalanche? Two clues: the greatest contribution to the record leap in inflation came from used cars (consumer credit). While the largest corporate bond ETF has just seen short interest soar over 20%. A tip: fasten your seat belts* + +&#x200B; + +https://preview.redd.it/g0g840rgtty61.png?width=680&format=png&auto=webp&s=1a3629686110ec4830068c0f6b54325eb8553d1a + +It is not the deep red numbers of the indices that are scary, but what moves under the track. **After the 181.8 billion in reverse repo kindly guaranteed by the Fed** at zero interest to 28 financial institutions yesterday, it was repeated today. **Another $ 209.25 billion at 0% against 39 bidders.** In fact, in two days the Federal Reserve "lent" about 400 billion dollars to interest-free banks against collateral whose real mark-to-market seems to be implicitly priced in the crashes in progress. Translated further, **someone in the last 48 hours had to cover something.** + +Most likely, margin calls ready to explode. Exactly as happened overnight on the Taiwan Stock Exchange. There is no point in using polite euphemisms: **for two days in a row, someone on Wall Street was bailed out by the Fed.** And to do so they were forced to field just under half a trillion dollars. It means that what was about to happen was of enormous magnitude. The mind obviously runs to the wild leverage of subjects like ARK Investment or Ponzi schemes like that of Archegos or Greensill. In short, Level 3. But unfortunately, perhaps what is taking place is **the classic historical moment in which resorting to Occam's razor guarantees the most effective result.** Quite simply, the system is imploding from its excesses. And, even worse, the Fed is increasing its exposure in an emergency and forced attempt to plug the biggest holes. + +Today, **the US CPI figure made an impression, the highest since 1981 with its + 0.9% on a monthly basis against expectations for 0.3%.** But the disturbing data is contained in this graph: + +&#x200B; + +[Source: Pearkes](https://preview.redd.it/hwnu7vmrtty61.png?width=528&format=png&auto=webp&s=38b2ca1b3f751e0f2e1ea8815e113f0c30c1ebbc) + +from which it is clear that the greatest contribution to that leap comes substantially from the used car sector. **In fact, a critical multiplier within the real economy.** On the one hand, in fact, it acts as a proxy for the production difficulties in the "new" branch due to the shortage of semiconductors, on the other it shows the nefarious and immediate effects of the deluge of liquidity that rained down on the current accounts of millions of Americans with the federal check Biden pandemic support plan. + +Further problem? **Consumer credit based on this trend is, in fact, securitized in real time:** when the frenzy of transfers through subsidies will end and purchasing power will be halved, what dynamics will be activated in the sector? **The mind runs to subprime mortgages.** But even worse is the scenario that this second graph shows us: + +[Source: Bloomberg](https://preview.redd.it/fltyylzutty61.png?width=1200&format=png&auto=webp&s=486bb2934b4e4eb95cdf63be55da63515c5ad41d) + +which shows how the largest ETF linked to corporate debt, iShares iBoxx $ Investment Grade Corporate Bond (LQD), a $ 41 billion colossus, **has just registered a short interest at 21.5% of the outstanding.** The boiling price is frightening credit investors, so much so that in the face of a $ 15 billion inflow in 2020, **the fund has already suffered $ 11.3 billion outflows since the beginning of the year.** + +Excessive fear? Maybe. But only on one condition can a trend similar to a passing jolt be realistically declassified: **a Fed that does not move an inch from its expansive profile.** And, indeed, you increase the value of the intervention. Otherwise, the pressure will become unbearable. And those 400 billion reverse repo put in place in the last two days, in the light of all this, appear more and more the canary in the mine of a credit event waiting to be revealed. On the other hand, i**t was precisely an overnight jolt in September 2019 that brought the Fed back into the field after ten years on autopilot:** it had to be a buffer intervention with repo auctions for a week. They turned into over seven months of billionaire tri-weekly allotments, in repo but also term mode. Dèjà vu, definitely dangerous? + +HOLY MOLY +She had x rays done and a neck brace and we were told we had to pay the $600 bill. So my mom wrote a check. That week, the person who hit her had their insurance send the hospital a check for the medical attention. They cashed both checks and now won't answer us or give my mom her $600 back. Every time she calls or anything she gets told they don't know what she's talking about. She even showed them proof that they cashed both checks and they won't talk to her. +About a month ago I posted an [analysis of a deal](https://www.reddit.com/r/realestateinvesting/comments/g7kqrj/sellers_are_still_crazy/) that a broker sent me, and I promised to do a break down of my current park. And since I'm putting together a refinance package I figured I'd go ahead and do it now. + +Because I know I'll get DM's I'll start by telling you the story. And at the bottom you'll see the math. + +***My Story:*** In 2012 I started buying 4plexes in Vegas, and LEAN FI/REd at the age of 35, living off of 3k/mo. I realized it wasn't the life that I wanted and became determined to be FAT FI/REd ($10M NW, 300k/yr) I wrongly sold my units and more than doubled my initial investment of 100k. I falsely believed the parroted words that getting into commerical was easier, no job, no assets, no credit no problem. Well that turned out to be a lie, and after being denied the third time by bank on personal NW/Income requirements for 50+ unit multifamily, I pivoted my investing to Lending to flippers, and did some flips myself, a Non-Perform-Note or two, a wholesale or two, but knew since I loved the business model that I wanted to get into MHP. + +**How I Found this Park:** I was at a Networking event when a newbie came in and they had a mobile home park under contract and wanted to figure out how to put a syndication together. I asked him how much his park was selling for, and he said $750k! I explained to him you only need about 25% of the purchase price (187,500) to purchase, and you don't need to syndicate, you just need to know someone who has that kind of cash. So I invited him to lunch. We evaluated the deal, and it was actually a terrible deal. But a partnership was born. So I gave him the metrics we would be looking for. + +1. 30%+ COC +2. must be able to double the value with In-Fill, Sale of Park Owned Homes, Filling Vacancies, Or addition of other income. I do not want to be an investor who rolls in, raises rent $100/mo and calls that a success. +3. 100+ Pad Site (to support Full Time Employees) + +For 18 Months we looked at 5 deals a week, sent 1 Letter of Intent to Purchase a month, and Went under contract once a quarter. Of the other 5 deals we looked at there either were massive CapEx expenses, faults with advertised rents, or Waste Treatment systems that need repair beyond 50% of the purchase of the park. + +And then one day, he downloaded this OM into the dropbox, and I happened to be sitting at my computer, looked at the OM. 16.5 Cap, 750k purchase price, 150 Park Owned Homes, 24% vacancy. We immediately sent a Letter of Intent (30 minutes later) + +**How We Closed and Why We Got a Deal:** During due diligence we found that the demographics of the park did not match the cities demographics, and the 80 year old Property Manager, had lived in the community since it was built. There has been years of embezzlement from the previous property manager, and the owners were using this park for parts for their other parks. They wanted to get rid of it and improve their other parks (which also are larger parks). + +We secured a 165k Seller Second, and have a Hard Money Loan of 460k, and I brought 165k to the table. Our Hard Money Lender gave us a 90k Line of credit to do rehab. We closed in October of 2019. + +I own 80% of the equity, my Acquisition Partner brought no cash, and has a 10% equity stake, the Managment Partner brought no cash and has a 10% equity stake. + +**Details of the Park at Purchase** + +|PP: 750,000|Cap Rate: 16.50|Economic Occ: 26.6| +|:-|:-|:-| +|Average Rent: $315|Total Sites: 188|Empty Lots: 28| +|Occupied Units: 45||| + +Financials: + +|Rent:|$710,279|| +|:-|:-|:-| +|Vacancy:|$529,000 (This Was Wrong at PP)|Actual: $532,980| +|GSI:|$266,581|| +|\--------------------------------|\--------------------------------|\--------------------------------| +|Wages:|$12,000|| +|Repairs & Maint|$22,175|| +|Landscaping|$770|| +|Administrative|$2,913|| +|Water & Sewer|$51,722|| +|Electric|$44,712|| +|Trash|$4,347|| +|Telephone/Internet|$3,158|| +|Insurance|$5,640|| +|Tax|$18,579|| +|Expenses:|$166,016|| +|\--------------------------------|\--------------------------------|\--------------------------------| +|NOI|$100,565|| + +**How does a Cap Rate, at Refinance actually work?** Commercial real estate is valued by the capitalization of income. Which means whatever the Cap Rate that the property is judged to be at the income is divided by the percentage to increase the value of the property. So If I raise rent on the 45 existing units by $10 month and make no other changes $10 \* 45 \* 12 = $5,400 then we apply the 16.5% Rate ($5,400 / .165 = $32,727) Increase in the value of the park. But what if I sold and leased another home ($350 x 12) / .165 = 25,454. Each home I sell and lease the lot to adds $25k to the value of my park. And I've got about 110 vacant homes that came with the purchase of the park. 120 \* 25k = $3,000,000 + +**More Cap Information:** So I purchased at a 16.5 cap. A 2-3 star park in the area of 150+ units or more with a vacancy rate of 5% trades at a 5cap. So I did some math .165 - .05 = .115 (Cap Rate Delta).115 (cap rate delta) \* 120 units Each home I sell reduces my cap rate by .00096 + +**Details of the Park At End of May:** + +&#x200B; + +|Value:|Cap Rate:|Economic Occ: 38.75| +|:-|:-|:-| +|Average Rent: $325|Total Sites: 188|Empty Lots: 28| +|Occupied Units: 62||| + +Trailing 7 Month Financials: + +&#x200B; + +|Rent:|$138,323|| +|:-|:-|:-| +|Vacancy:|$0|| +|GSI:|$138,323|| +|\--------------------------------|\--------------------------------|\--------------------------------| +|Wages:|$30,784|| +|Repairs & Maint|$3,510|| +|Landscaping|0|| +|Administrative|$11,558|| +|Utilities|$39,804|| +|||| +|||| +|||| +|Insurance|$1,898|| +|Tax|$1,467|| +|Expenses:|$89,021|| +|\--------------------------------|\--------------------------------|\--------------------------------| +|NOI|$37,758|| + +Notes: + +* We don't record gross rents on a PNL statement +* I've rolled W/S/G and Trash into Utilities +* And Telephone into Administrative +* We haven't recorded the Winter Property Tax Bill of \~$15k + +Side By Side Comparison: + +|Rent:|$710,279|3900 \* 188 = $733,200|\+ $23,000| +|:-|:-|:-|:-| +|Vacancy:|$532,980|3900 \* 126 = $491,400|\- $37,600| +|GSI:|$177,299|$241,800|\+$64,501| +|\--------------------------------|\--------------------------------|\--------------------------------|\--------------------------------| +|Wages:|$12,000|$30,784|\+18,784| +|Repairs & Maint|$22,175|$3,510|\-18,665 (They had Wages in R&M)| +|Landscaping|$770|$0|\-770 (we fixed the plow)| +|Administrative|$2,913|$11,558|\+5,487| +|Telephone/Internet|$3,158|<--- We rolled this up \^|| +|Water & Sewer|$51,722|$15,807|\-$35,915 (Remember how I said there was theft?)| +|Electric|$44,712|$23,995|\-$25,064| +|Trash|$4,347|<--- We rolled this up \^|| +|Insurance|$5,640|$1,898|$-3742 (they had other properties Insurance paid through this llc)| +|Tax|$18,579|$1,467|\-$17,112| +|Expenses:|$166,016|$89,019|| +|\--------------------------------|\--------------------------------|\--------------------------------|| +|Trailing 6Mo Annualized|x2 + 15000 Taxes|175,104 + 18,579|| +|||$193,683|| +|\--------------------------------|\--------------------------------|\--------------------------------|| +|NOI|$100,565|$48,117|| + +**WAGES:** + +When we annualize wages it comes out about $61,000. About 2/3rds of that will be assigned to capital expenses (which excludes it from NOI) as we do our taxes + +NOI +48,117 + 40,000 = 88,117 + +**What else is missing?** + +* Utility Billbacks! Water +10,112, Electric + 10,123 = 20,235 x 2 (for annualization) = 40,470 + * NOI 88,117 + 40,470 = $128,587 +* Lease To Own Payments: 15 Units \* ($150/mo \* 12 Months) = $27,000 + * NOI $128,587 + $27,000 = $155,587 +* Miscellanious Fees (Pet Fee, Late Fees, Maintenance Call Fees, Citation Fees): $7,186 + * NOI $155,587 + 7,186 = $162,773 +* CAP EX Materials Spending: ***$54,000 (I finally got to that number)*** + +**What Does that Mean?** + +I spent $54,000 to increase the NOI of the Park by $62,208. If I apply the 16.5 Cap Rate I've increased the value of the park by $377,018. + +... but wait... there's more ... Remember how way back I said for each home sold I decrease the cap rate by .00096. Well, we added 15 units So .165 - .014 = .151 so I actually apply a 15.1 Cap Rate + +# $411,973 + +**What Does the Future Hold?** + +I am currently targetting a 2.5M ARV for my new loan, at Covid-19 terms I'm looking at a 65% LTV structure. The Park is already valued at a conservative $1,077,967 (I should note, that the original PP of the parks was $600,000 and then $100,000 for the homes, and $50k in business assets/goodwill), so I have almost doubled the value of the park in 8 Months. A new loan at the current value would cash out my existing loans but leave me with my original investment left in it. + +If I get the loan on the 2.5M ARV at 65% The new loan would be 1,650,000, which would net me $900,000, We'd retain $500k for the stage 2 rehab, and distribute $400k. On my 165k investment I would get $320k tax free, and would get my intial investment of 165k back. My ROI would be \~200% in less than 8 months. My Partners will get $40k each, which is an infinite ROI. + +Once we refinance we will start searching for 2 more parks to get our Pad Count as close to 500 this year as possible. + +EDIT: Book Recommendations: + +* Dave Lindhal - Multifamily Millions. +* Lonnie Scruggs - Deals on Wheels +* Frank Gallinelli - What Every Real Estate Investor Needs to Know About Cash Flow... And 36 Other Key Financial Measures +* To me those are the essential REI books. After that, read about: +* accounting +* finance +* people management (Dale Carnegie) +Read this in full before you hit the downvote button. + +&#x200B; + +1. He made his first ever Tweet this week and went out of his way to discuss GameStop. +2. He went out of his way to **repeat exactly** what he said in his [May testimony](https://www.sec.gov/news/testimony/gensler-testimony-20210505) + 1. Tweet: “About 6 months ago, **a stock went from $20 to $480 and back down to $40, all in a matter of weeks.** I think these events are part of a larger story about the intersection of finance and technology.” + 2. May Testimony: “We’ve all come to hear the general story: **a stock that went from $20 to $480 and back down to $40, all in a matter of weeks.** It opened at $162 Wednesday of this week.” +3. He also very clearly made another follow-up Tweet at the same time that didn’t get much (if any) traction on here, [linking directly to his May testimony](https://www.sec.gov/news/testimony/gensler-testimony-20210505). Judging by the 95% of the comments in the thread about his first tweet, people seemed to have missed what GG was doing here. +4. What’s special about the May Testimony? He raised all the points we have complained about - **PFOF, % of trades through Off-Exchange and Dark Pools, Firms with Concentrated Marketshare having an unfair advantage and profitability, name dropped Citadel, short-selling and transparency, total return swaps, bad actors taking advantage of social media (and he goes out of his way to preclude retail investors), bad actors also using algos to scrape social media sentiment, transitioning from T+2 to T+0 and system wide risks of one firm failing. He also mentions on multiple topics that he has his team looking into this.** +5. And it’s curious how between his testimony in May up until now, retail unrest has gathered even more momentum and has just amplified. Just imagine the sheer number of complaints that have made their way to SEC and other agencies. *And what does GG choose to do?* Re-iterate what he said before, directly referencing GameStop **and** throw in a link, almost like he is saying *“retail, we do hear you and we are working on it”* without making it a big MSM story. + +Whatever your thoughts on the man himself and the ability of the SEC to do anything useful, I do think people have missed the point of his tweets. GG can’t come out and make direct accusations, just imagine the army of lawyers Citadel and co have ready, and he can’t go around showing his hand too early either. + +* He has to gather evidence for an absolute slam dunk in an area where evidence can be easily hidden +* His team have to write proposals and recommendations +* He has to weed out corrupt employees and undo decades of incompetence +* His new director of enforcement has to put together a case against the most powerful financial institutions around and deal with other ongoing case loads. +* He has to deal with multiple complex issues that he’s raised in his testimony that require a lot of change +* And as we are discovering ourselves, there are new things to discover *every day*. +* But at the same time, he does realise he has a furious retail crowd to contend with, hence the purpose of the tweets. + +I know it’s become a meme about GG being in the job for X weeks but when you see his testimony, the points raised, when they were raised, you begin to understand that the direction him, the new director of enforcement and the SEC are going in is a positive one or at the very least, it’s not some vague rambling but it’s something constructive. + +And it’s genuinely not one that you can change overnight and it’s certainly not one where you show your hand too early. I was actually a big GG detractor before reading the testimony today and when I only saw the first tweet. + +**EDIT**: Let me be clear on one thing. Clarifying the tweets does **not** mean I blindly trust GG. His track record is 50/50 and for GameStop, he’s done nothing yet. I also don’t think he or the SEC will do anything in time for the run-up to MOASS. In terms of improving the market, like Ryan Cohen, in the end I will only judge him on his actions rather than words. But in terms of what he has said, I like it and think he’s headed in a good direction. +Weird thing happened to me recently... + +I received a call from visa asking if I had recently made some large purchases . I replied "no I haven't ". + + +**The charges:** + + +$5000 ( triggered fraud alert) + + +$800 (went through, iPhone on contract maybe?) + + +$800 (went through) + + + + + + + + +The bank then told me someone just called them pretending to be me and my card was compromised. + +A week later I get two packages in the mail. I open them up, Two 256gb iPhone X's. One silver, one black. + +**I'm guessing this is what happened:** + +1) The fraudsters were testing the waters with the iPhones before they made the big purchase. + +2) They were hoping to intercept the package . + +3) They just messed up. + + + +Anyone have this happen to them? + +**Edit :** + +- Yes the charges were reversed. + +- I still have the phones + +- I'm going to contact visa about what to do. + +- I don't have kids + +- Not on any medications / wasn't drunk + +- Getting a lot of messages about people wanting to buy them. Im going to try and return them. They're not for sale :P + +- I don't need legal troubles. I highly doubt they won't come looking for these phones. + +- My apartment doesn't have gas. (carbon monoxide poisoning) + +- What the frick? + + + +**Wow front page! , Thanks everyone for all of the responses. Helps a ton!** + + +**Update 3:00pm PST:** Talked with visa & credit security agent. They told me they don't deal with the packages / returns and that I should contact the merchant/cell phone provider. I am going to be contacting the credit bureau in the morning as well. + + +**Update 4:00pm PST:** Currently on the phone with cell phone provider. Closing any accounts the fraudsters may have opened. + + +**Update 4:30pm PST:** Talked to the cell phone provider. No account was created under my name and they can't trace this purchase to me because I don't have an account. They told me I should just wait and see if they contact me again. They said they can't accept any returns because I need an account number (which i don't have). + +**Update 5:00pm PST:** Just realized something... the address it was sent to is a number off. My address ends in a 2, the slip ends in a 4. It does have my name on it etc. It got to my house because the delivery guys know our last name most likely. The plot thickens. I do have new neighbours , but I don't think they could pull this off. Super strange. + +**Update 6:00pm PST:** Just checked, the address ending in 4 isn't the new neighbours, they're my other neighbours, and they're pretty old. I don't think I'm going to get much more info on this. I'm thinking I'll wait for a while before I consider the phones mine. I don't want to open it and then get charged for it. They may even be deactivated from Apples side anyways. I'll open one after one month. + +**Update 6:17pm PST:** Proof https://imgur.com/a/lVKWF + +**Update (next day) 12:20pm PST:** +I just called credit bureaus. The fraudsters tried to make cell phone accounts in my name. For some reason the cell phone provider couldn't find my name on file. It's officially identity fraud at this point, and there will be an investigation. If anyone is in Canada and this has happened to you, please call your bank as well as the following numbers. + +**Equifax** + +1-866-205-0681 + +**Trans Union** + +1-800-663-9980 + +**Canadian Anti Fraud Centre** + +1-888-495-8501 + + +Funny thing just happened. Trans union gave me the Canadian anti fraud number, and I mistyped it. I typed 800 instead of 888 and it went to a sex line. For a second I thought I had been elaborately scammed and all of the people were it on it, then I realized the mistake. + + + + + +*As crappy as this situation is for my identity. Reddit has made it pretty fun. Thanks again* + + +WSB automod deleted this post and gave me a one day ban. Please help get the word out. + +CALL YOUR SENATORS AND CONGRESSMEN NOW!!! + +Autists, + +For a trading platform to restrict trading on any stock the way Robin Hood has chosen to do is ILLEGAL. + +This is not a free market. + +This is a BIPARTISAN issue and I see both sides coming together on this one. + +I encourage all of you to call your representatives ASAP. + +Edit: [Its working!](https://reddit.com/r/wallstreetbets/comments/l7c6kb/congress_might_do_something_for_once/) +https://www.thehindu.com/news/national/cabinet-approves-model-tenancy-act-for-circulation-to-states-uts/article34708533.ece + +The Union Cabinet on Wednesday approved the Model Tenancy Act to be sent to the States and Union Territories to enact legislation or amend laws on rental properties. The meeting was chaired by Prime Minister Narendra Modi. + +“It will help overhaul the legal framework with respect to rental housing across the country, which would help spur its overall growth…It will enable creation of adequate rental housing stock for all the income groups thereby addressing the issue of homelessness,” a government statement said. + + +https://swarajyamag.com/news-brief/model-tenancy-act-approved-to-unlock-vacant-houses-for-rental-purposes +I work in the Canadian export industry and figured that you all may appreciate an update on what's happening with this global shipping crisis as it has a huge impact on many of the value companies that many of us look at. This is an update I am currently sending out to customers and is from a Canadian perspective but this effects all US shippers the same. Some of my US counterparts are having the exact same issues and are unable to ship through most major us ports, especially those in the northern states. + +Things have gotten much worse in Canada over the past 24 hours. Prior to this week, shipping through Vancouver was already basically impossible as no vessels were arriving to take cargo so all cargo was being diverted to Canada's other major port, Montreal. Now, because of the backlog of cargo and lack of containers in Montreal, our transloader in Montreal is refusing all inland deliveries effective immediately... both truck and rail, and they are the only facility that can transload from rail to containers at the port in Montreal. Additionally, the shipping lines essentially have no available containers in the port which means they are not sending any inland… So we cannot get containers anywhere in Canada…. To add further pain to Canadian shippers, a record setting storm hit the west coast this past week which has destroyed multiple sections of the rail line that brings cargo to the port and the highways used as a secondary route to the port. So even if Vancouver was able to get vessels, for at least the next 2-4 weeks, there will be no way to ship through Vancouver as there is no possible way to get cargo to the port while repairs take place. + +This means that as of yesterday, Canada has essentially been cut off from global containerized markets… + +How did this all start you may be asking? For a quick recap: + +1. China shuts down thx to covid + +2. US and European stimulus gives consumers never before seen levels of disposable income + +3. Consumer demand = extreme purchasing levels of consumer products made in China + +4. Shipping lines divert all available ships to china to fulfill consumer product demand (which include toys, kayak, computers, car parts, ect). Consumer product sellers (walmart, amazon, Home depot, Ford, coke, ect) are willing to far out pay traditional markets for containers as they know consumers will pay whatever prices (case and point, vehicle prices skyrocket yet there is still a ton of demand) + +5. Containers and vessels are no longer available for traditional shipped goods from North America or any market for that matter (grain, wood, ect) and lines increasing prices monthly while reducing service + +Hope this is some useful info for ya'll! Feel free to ask any questions, happy to help. +Hey folks, + +I'm writing this post to share my investment history and looking for your suggestions on how can I make the effective use of whatever I built so far. (Throwaway for obv reasons) + +30yrs old, works in IT, making 2.15L/month post tax. I'm single, parents passed away, my younger sibling working. I have 0 dependencies, debts, liabilities, EMIs. Also 0 ancestral wealth, physical properties. So completely independent, free soul. + +I'm not a lavish spender, I used to save around 50k-1L every month before pandemic. Now I live with my granny in rural town, my monthly expenses are <10K. So I'm saving 2L/month. + +My investments so far (Initial guidance by my relative then on my own): + +* 11L in PPF (Investing since 2013) +* 19L in Mutual funds (SIPs in Full equity for the last 7 years) - Cur valuation 27L +* 13L in stocks (Nifty50, large cap ones) - Cur valuation 19L +* 2L in FDs +* 7L in Emergency fund/Liquid cash + +No investments outside of these. Got health, term insurances covered. + +Every month I transfer 1L to my investment account (SIP + buy stocks in dips), 50K to my expenses account (Credit card bills), let 50-70K in my salary ac. I donate 5-10K every month to charity. + +All my investments are long term >10years. Except for the marriage (not into arranged marriage, so uncertain) I don't foresee any other heavy expenses. Even for marriage I set a max budget of 3-5L. I don't have any goals attached to my investments, just building the corpus. Given my age, time frame and risk appetite, I went full equity. + +So far everything went fine, but I feel like I may not be able to invest my money shrewdly given the size. I am not a knowledgable investor, just used common sense, avoided hasty decisions, stayed put, so things worked out. But past results don't guarantee future perf right?! + +1. Should I approach any sebi regd financial advisor for a proper plan? How he/she is going to help given I myself don't have any strategic goals for now? +2. If I move to any foreign country, how much complications would arise on these investments? +3. Any other avenues I should look for as long term investments? + +Appreciate your inputs/suggestions. + +&#x200B; + +Edit: + +Since some people asked about my job profile, sharing it here. + +I work as Infra/Devops engineer in a tech startup. I was working in MNCs for the first 5 years, doing crap work. Infact I spent first 3 years installing MS office, changing mouse/keyboard in IT support. Then continuous learning, up skilling, learning new technologies led me to the startup world and things just fallen into place. I studied and did certifications like redhat linux, cloudera hadoop, AWS, which helped me to move to new companies. + +Company A (Mnc) - started with 3.1L salary in Jan 2012- left with 4.8L after 3.5 years +Company B (product comp) - started with 7L in May 2015, left with 7.5L after 1.5 yrs +Company C (Mnc) - started with 9.75 in Oct 2016, left with 9.75 after 1.5 yrs +Company D (startup) - started with 16.5L in Feb 2018, now 3+ years going strong, salary at 34.5L + ESOPs + +I'm not a developer. I manage my company's cloud infra (AWS, Google cloud), CI/CD (docker, kubernetes), good at automating mundane tasks using Python, great at soft skills like communication, leading projects etc., Earlier I used to focus more on the salary, less on skills. Now I'm more focused on my skills and salary coming on its own. Still lot to work on my tech skills, but soft skills are my asset. Hope this clarifies. +Now that I got your attention. What I am trying to say is, for successful algo traders, it is in their best interest to not share their algorithms, hence you probably wont find any online. + +Those who spent time but failed in creating a successful trading algo will spread the misinformation of 'it isnt possible for retail traders' as a coping mechanism. + +Those who ARE successful will not share that code even to their friends. + +I personally know someone (who knows someone) that are successful as a solo algo trader, he has risen few million from his wealthier friends to earn more 2/20 management fee. + +It is possible guys, dont look for validation here nor should you feel discouraged when someone says it isnt possible. You just got to keep grinding and learn. + +For myself, I am now dwelling deep in data analysis before proceeding to writing trading algos again. I want to write an algo that does not use the typical technical indicators at all, with the hypothesis that if everyone can see it, no one can profit from it consistently.. if anyone wanna share some light on this, feel free :) +I am incredibly bullish on Meta at current valuations, and have deployed about 20% of my capital into the stock. + +I'd like to hear from those who disagree with me. Why is this a bad idea? +1. You don't have to state the size of the property in the ad. I found this to be the case especially with apartments (99% of cases). + +Is it 60 or 80m²? You don't know. You can ask the REA and they will overstate and lie shamelessly sometimes with disastrous consequences. Or, as I was told, you can measure it yourself (as if you don't have anything better to do but go and inspect apartments you have no idea what size they are and then practise your geometry skills). + +In ALL countries I've previously lived, the size must be clearly stated, and they must state usually several: constructed size (includes walls e.g), floor size (actual useful size), balcony size (i.e. internal and external size). It's the law, you must include that information. + +This is mandatory for rental properties as well. Most will include a floor plan with dimensions, otherwise you may have 0 responses. + +2. A partition off the floor that is no more than a storage space, apparently is a bedroom in Australia. Everywhere I previously lived, a bedroom must have at least one external window for it to be considered a bedroom. Yet, here you'll see thousands of misleading advertising of this type. E.g. this is apparently one bedroom apartment. + +https://www.realestate.com.au/property-unit-vic-richmond-139837395 + +Of course, this is ideal for developers who can squeeze as many as posible of these in their building. And people don't know any better. They think they've purchaded a one-bedroom apartment whem in fact they bought a studio. (Or a two-bedroom which is in fact one-bedroom etc). + +3. "Range". So, when I was looking I made an offer at the top value of the range for a small apartment because I thought it was good value for money. The apartment wasn't up for auction. They refused it. They didn't update the range. I asked the REA if this was not misleading advertising and illegal. He said it wasn't. + +4. Energy efficiency and emissions. In all European Union countries, you MUST procure from a certified professional and include in the ad an energy efficiency and emissions certificate, which has easy to understand scales, with A being the most efficient, and +G being the least (A, B, C, D, E, F, G). Also coloured for easy reference - A is green, G is red, for example). + +This is of huge consequence for the buyer, it will affect your energy bill greatly. Moreover, builders are investing to ensure higher energy efficiency rating, otherwise their construction is not competitive on the market. These forces them to think and plan for quality in materials etc. And good luck getting good price for a property with an F rating for example. + +Apparently, it doesn't matter in Australia. Guess what most apartments would get with their flimsy construction and single pane windows. + +5. For sale by owner. These are so common in so many countries, in some they are the majority of ads. I have no idea why here over 90% of the transactions go via a REA who add so little value (basically open and close doors) and charge excessive fees. I understand if you need one for convenience, but engaging one is certainly not the norm when selling or renting out. Their fees obviously drive prices up. + + +Interestingly, in some countries you must disclose if there is an upcoming property development in the vicinity. Here you have to navigate the obscure local council sites with terrible search functions and waste hours to find out, if at all. + +Anyway, I can point out more but thought these three are truly bizarre to begin with. + +What else have you noticed that is just not right? +Two for me. + +1) Motorcycle, 30k. It was more fun researching and buying it than actually riding it. + +2) Building a media room addition with a high end projector and sound system. $100k+. Ended up using it 4-5 times a year since I don’t like to wait a few months for movies to come out on streaming platforms. +Black rock on CNBC ringing the alarm- too much liquidity in the market. “FEELS FROTHY.” + +Link below, just watched live.CNBC usually uploads these vids to YouTube later. + + + +Edit: From google- “Too much liquidity risks the creation of asset bubbles, like in housing before the financial crisis and farm land afterwards, and distorts financial markets. Throughout the world, ongoing central bank liquidity has bolstered financial assets rather than goods and services that produce growth in the real economy.” + + +HE ENDED SAYING “WITH SO MUCH LIQUIDITY IN THE MARKET TODAY, THERE IS LITERALLY NO VALUE IN THE MARKET TODAY.” - Rick Rieder, Chief Investment Officer of Blackrock (whom manages $9 trillion of assets worldwide and owns 13.2% of gme). + + +Edit: Actual quote: “The flood into high quality assets, because liquidity is so large, there is literally no value in the markets today.” + +🚀🚀🚀🚀🚀🚀🚀🚀 + +Edit: link - https://youtube.com/shorts/MeKMOrn7nEk?feature=share +I may be preaching to the choir with this post... but recently my TikTok FYP has started showing me an overwhelming amount of personal finance accounts advocating against the 401K/Roth IRA/Traditional IRA model. Has anyone else seen a sudden rise in these types of videos? + +Most of these videos either end up advocating for their personal finance course, or recommend throwing all excess cash into real estate/a small business. +In the process of making these recommendations, many of these accounts make sure to mention that investing steadily into a 401K/Roth IRA is structured to “keep you poor” and won’t “set you up for the life you want” + +Maybe it’s because I’m young and that I haven’t fully been exposed to how much misinformation is out there in terms of personal finance, but I was pretty disappointed when going down the rabbit hole of these accounts (especially knowing the target audience of TikTok is a young demographic) + +The entire process made me grateful for this sub to at least provide some sound perspective when listening to anyone talk about how to handle your money! +I apologize in advance for how morbid this post is. I am in no way supporting this, I'm merely curious. + +Let's hypothetically say that when covid-19 first started, the U.S. decided to do nothing and simply let the disease run it's course and kill anyone that was vulnerable. In March, the Imperial College of London estimated that without intervention, as many as 2.2 million Americans would die. The Insurance Institute for Highway Safety places the value of a human life at around $10 million dollars. By this calculation the 2 million excess deaths would cost the economy $20 trillion. + +However, most of the deaths would be senior citizens who are at the end of their working life and have no more earning potential. Their remaining assets would likely be transferred to their families after death. Covid-19 has already cost the US $16 trillion; from a strictly economic standpoint, would it have made more sense to not address the virus and let it run rampant? +I'm an Indian btw and I have had this question for a while. At least affordability wise this decision will bring poor countries at par with developed countries and international trade will neither be a rip off for developing countries nor a steal for developed countries. +As you probably know, The Motley Fool has been bashing GME beyond reason since the start. + +Telling investors to - '*Avoid GME like the plague*' - and - '*Don't invest in GME*' - with at some point up to 3 bashing misinformative articles a day, it became clear that they have ulterior motives. + +&#x200B; + +Enter MFAM: + +[The funds behind Motley Fool.](https://preview.redd.it/wsdrgdrxas781.png?width=1147&format=png&auto=webp&s=2e79d991e3c734b8bb40d8bec903ea90019bf9fc) + +&#x200B; + +MFAM, or **Motley Fool Asset Management** is the sister company of The Motley Fool, which has [several funds & ETFs](https://www.mfamfunds.com/our-products.html). And based on their holdings & articles, it won't come as a surprise that the Motley Fool clearly spreads (mis)information to manipulate readers in function of their funds... The best part? Most readers don't even realize it as they don't know about MFAM. + +The Motley Fool is basically a tool to direct readers to (or away from) the stocks MFAM owns or shorts. - *(Market manipulation much?)* + +&#x200B; + +&#x200B; + +**My my... the** **~~plot~~** **mayo thickens:** + +It also turns out the Motley Fool is sponsored by **Citadel LLC** and **Melvin Capital**. + +Might mayo man (Ken Griffin) be pulling strings here as well? It's definitely not unthinkable given their tactical articles & the ticker-events that follow. Not to mention it's perfectly in line with other media channels that are strongly tied to or partially owned by Citadel (*MarketWatch,...*). + +Note that The Motley Fool also removed any link with Citadel once redditors discovered it. + +https://preview.redd.it/xxuupbsyas781.png?width=610&format=png&auto=webp&s=50e55ef727722ee187121c79b3f37b0185f502c4 + +You can still see for yourself on the Wayback Machine web archive, a capture of May 14th: [https://web.archive.org/web/20210514071019/https://www.theladders.com/company/fool-jobs](https://web.archive.org/web/20210514071019/https://www.theladders.com/company/fool-jobs) + +&#x200B; + +&#x200B; + +**Keep it hush? They wish.** + +Now apparently it struck a big nerve when people started to uncover this on public sites like [Trustpilot](https://www.trustpilot.com/review/fool.com) 2 months ago. The Motley Fool went full damage control ever since. Not only have they been vigorously flagging & trying to get those posts removed. They also started to flood them with suspiciously positive reviews: + +[And on and on and on and on...](https://preview.redd.it/6t6qdf8bbs781.png?width=667&format=png&auto=webp&s=ccb571f4e5f0181062f856484d704d35c521033f) + +5 star reviews went from 10 a month to a whopping 120. + +Should you feel the need to leave an honest review to help others, please keep it decent. Dirty language will get removed anyway. 🙊 [www.trustpilot.com/review/fool.com](https://www.trustpilot.com/review/fool.com) + +*(In my experience Trustpilot has been wonderful with keeping my flagged review online. Hence why MF is flooding them.)* + +&#x200B; + +&#x200B; + +So there you have it. If you didn't know already, The Motley Fool is just another market manipulator that gets to exploit people and get away with it. + +But it's **YOU**, you dirty meme-trader, who is breaking the market and not playing fair... 🤦‍♂️ + +💛🚀✨🐱‍🚀 +The traditional story is: + +First generation starts poor, is hungry, frugal and hard-working. Given the right conditions and luck (plus their innate hardwork and intelligence), they become wealthy. + +The second generation sees this struggle as they grow up. They benefit from this wealth (better education, networks, health etc) and build on it, becoming even more successful. + +The third generation is born into wealth, they haven't seen struggle and take success for granted. Lacking hunger and discipline for hardwork, and having a penchant for power and enjoyment, they start to squander wealth. Presumably the cycle starts over. + +But looking at families mostly in Europe, there's tons of families that have been wealthy for hundreds of years generation to generation. How do they do this and avoid the above cycle? +**EDIT - Okay hotshots, let's update some stuff. I've had a lot of comments shouting 'this needs a DEBUNKED flair'. This is due to the text looking like your standard boilerplate language.** u/rockinandchalkin **points out that it was drafted a million years ago and noone including the lawyers actually read this. We all know how that goes...(*****cough... The Big Short*****)** + +**Just because it's could be a 'copy and paste' doesn't mean that it isn't true, can't effectively be enforced or used to fuck shorts. I for one am still jacked to the tits and you should be to.** + +**And for those that think it's so far fetched that GameStop would go off exchange?...** + +&#x200B; + +**There is huge amounts of speculation that the NFT is going to be used for a used game exchange. What's to say their stock/security couldn't be on there to trade also?....** + +\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ + +Legalese is another language. I will be taking the words of GameStop and breaking them down so you can understand. + +*Beware, I too am an idiot. I can barely read myself. If anyone can see any flaws in my explanations, help an ape out and let me know!* + +**Also, MAJOR SHOUTOUT to the DD chat. You guys are the ultimate apes to me.** + +&#x200B; + +# u/loggic, ultimate props to you for actually reading the prospectus first! + +# [Crypto hints being dropped in GME's Prospectus? : Superstonk (reddit.com)](https://www.reddit.com/r/Superstonk/comments/o933f5/crypto_hints_being_dropped_in_gmes_prospectus/?utm_source=share&utm_medium=web2x&context=3) + +&#x200B; + +# CONFIRMATION BIAS TIME - + +&#x200B; + +>We may issue the securities offered by means of this prospectus in whole or in part in book-entry form, meaning that beneficial owners of the securities will not receive certificates representing their ownership interests in the securities, except in the event the book-entry system for the securities is discontinued. If securities are issued in book entry form, they will be evidenced by one or more global securities that will be deposited with, or on behalf of, a depositary identified in the applicable prospectus supplement relating to the securities. The Depository Trust Company is expected to serve as depository. Unless and until it is exchanged in whole or in part for the individual securities represented thereby, a global security may not be transferred except as a whole by the depository for the global security to a nominee of such depository or by a nominee of such depository to such depository or another nominee of such depository or by the depository or any nominee of such depository to a successor depository or a nominee of such successor. Global securities may be issued in either registered or bearer form and in either temporary or permanent form. The specific terms of the depositary arrangement with respect to a class or series of securities that differ from the terms described here will be described in the applicable prospectus supplement + +**Ape Talk - The DTCC is the depository for the shares, so why are we talking about a successor depository??(more on this below)** + +&#x200B; + +>*Upon the issuance of a global security, the depository for the global security or its nominee will credit on its book-entry registration and transfer system the respective principal amounts of the individual securities represented by such global security to the accounts of persons that have accounts with such depository, who are called “participants.” Such accounts shall be designated by the underwriters, dealers or agents with respect to the securities or by us if the securities are offered and sold directly by us. Ownership of beneficial interests in a global security will be limited to the depository’s participants or persons that may hold interests through such participants. Ownership of beneficial interests in the global security will be shown on, and the transfer of that ownership will be effected only through, records maintained by the applicable depository or its nominee (with respect to beneficial interests of participants) and records of the participants (with respect to beneficial interests of persons who hold through participants). The laws of some states require that certain purchasers of securities take physical delivery of such securities in definitive form. Such limits and laws may impair the ability to own, pledge or transfer beneficial interest in a global security.* + +&#x200B; + +**Ape talk - Just some basic talk around what the DTCC is and how shares work. However, the final line is very cute - in some states, certain laws may impair the ability to own, pledge or transfer beneficial interest in a global security.** + +&#x200B; + +>So long as the depository for a global security or its nominee is the registered owner of such global security, such depository or nominee, as the case may be, will be considered the sole owner or holder of the securities represented by such global security for all purposes under the applicable instrument defining the rights of a holder of the securities. Except as provided below or in the applicable prospectus supplement, owners of beneficial interest in a global security will not be entitled to have any of the individual securities of the series represented by such global security registered in their names, will not receive or be entitled to receive physical delivery of any such securities in definitive form and will not be considered the owners or holders thereof under the applicable instrument defining the rights of the holders of the securities. + +&#x200B; + +**Ape talk - Short sellers ARE NOT considered owners or holders of the shares and their rights.** + +&#x200B; + +&#x200B; + +>Payments of amounts payable with respect to individual securities represented by a global security registered in the name of a depository or its nominee will be made to the depository or its nominee, as the case may be, as the registered owner of the global security representing such securities. None of us, our officers and directors or any trustee, paying agent or security registrar for an individual series of securities will have any responsibility or liability for any aspect of the records relating to or payments made on account of beneficial ownership interests in the global security for such securities or for maintaining, supervising or reviewing any records relating to such beneficial ownership interests. + +&#x200B; + +**Ape talk - Gamestop ain't liable for absolutely anything that happens with the MOASS. The DTCC allowed this to happen so it's their mess to figure out.** + +&#x200B; + +>We expect that the depository for a series of securities offered by means of this prospectus or its nominee, upon receipt of any payment of principal, premium, interest, dividend or other amount in respect of a permanent global security representing any of such securities, will immediately credit its participants’ accounts with payments in amounts proportionate to their respective beneficial interests in the principal amount of such global security for such securities as shown on the records of such depository or its nominee. We also expect that payments by participants to owners of beneficial interests in such global security held through such participants will be governed by standing instructions and customary practices, as is the case with securities held for the account of customers in bearer form or registered in “street name.” Such payments will be the responsibility of such participants. + +&#x200B; + +**Ape talk - When GameStop give out a dividend or premium, the DTCC will give em' out accordingly to each and every person who owns shares. Also, if you have shares held in a 'street name' they will give you the dividend as such. THE RESPONSIBILITY IS ON THEM.** + +&#x200B; + +# WHERE MY TITS GET JACKED + +&#x200B; + +>**If a depository for a series of securities is at any time unwilling, unable or ineligible to continue as depository and a successor depository is not appointed by us within 90 days, we will issue individual securities of such series in exchange for the global security representing such series of securities. In addition, we may, at any time and in our sole discretion, subject to any limitations described in the applicable prospectus supplement relating to such securities, determine not to have any securities of such series represented by one or more global securities and, in such event, will issue individual securities of such series in exchange for the global security or securities representing such series of securities.** + +&#x200B; + +**APE TALK - If the DTCC decides to mess around during a MOASS (for example), GameStop will change depositories to somewhere else.** + +**It goes a little like this -** + +**DTCC - We aren't paying up dividends** + +**Gamestop - Fine. We're going to make NEW shares and swap them for your ones. We need enough to give everyone who currently has a share, theirs's back. All 1.3 billion of them..buy up...** + +&#x200B; + +**My wrinkled brain sees this as a 4d chess move. Want to make hedgies buy back without a reverse merger? Tell the DTCC to eat a big pile of poop for fucking around and just move depositories.** + +&#x200B; + +\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ + +&#x200B; + +**TL;DR - GameStop has everyone by the balls. I think RC knows the DTCC will be ruined when he gives them dividends of only 70 million shares. They also found a way to simulate a reverse merger IF the DTCC go kaboom. That's by packing up the shares and then moving depositories, causing an entire exchange of all shares that would be reissued.** + +&#x200B; + +**APE TL;DR - Shorts r fuk. If DTCC stop MOASS, they fuk. GameStop could use big red nuke button to force shorts to cover.** + +&#x200B; + +**Edit - Further TL;DR by** u/magistricide **- We CAN release a crypto dividend to investors based on the number of stocks they own, and it's up to the DTCC to sort that shit out....** + + +Why would a delisted companies spike? + +As I understand it, shfds short a stock to virtually zero, making tons of bank on the way down. +Once the company is delisted it’s technically no longer a threat against their short positions. So they leave them open in perpetuity saving the cost of both closing the positions and any gains associated. + +Here’s the chink in their armor. ( I think ) + +If a shfd gets margin called, liquidated, and goes to the clearinghouse, ALL their positions will be settle to clear their books. Including the open positions on the delisted companies. + +I think the spike may be the death throes of a couple hedge funds. + +There also may be a couple others getting nervous and trying to close their own positions adding fuel to the situation. + +There is probably hundreds of these delisted stocks going back decades with unclosed positions. + +These are my observations. Please add or correct as you see fit. +💎🙌 🚀 🚀🚀🚀 + +Edit: this[post](https://www.reddit.com/r/Superstonk/comments/ph8zcc/zombies_coming_back_from_the_dead_rule_15c211/?utm_source=share&amp;utm_medium=ios_app&amp;utm_name=iossmf) by @jaloosk was brought to my attention about a rule going into affect that could also be causing the spikes in the delisted stocks. I have read the document in the post, but to be honest it is tough for me to follow. Take a look and share your thoughts please. + +Edit: @u/jaloost + +Edit 2: This [post ](https://www.reddit.com/r/Superstonk/comments/phujc2/introducing_the_expert_market_otc_market_groups/?utm_source=share&utm_medium=ios_app&utm_name=iossmf) +By @u/hmhemes responds to Edit 1 and has great information. Please read. +When I travelled around Asia it was amazing to see how many businesses are booming in the evenings. Office workers who work until 5 or 6pm can go pretty much anywhere after work. + +It is such a huge contrast to here. I often get so annoyed that there are so many places that are only open 9-5. if you’re a white collar worker you either have to use your lunch break or adjust your working hours, which is not possible for most people. + +I welcome more examples: + +- I tried to call TNT to book a parcel pickup. Their call centre is only open 9-5 +- I try to make a GP appointment. Our local clinic is closed weekends, 9-5 most days and only open until 7pm one day a week +- I want to go clothes shopping on a Tuesday night in the suburbs. Unless I go into the CBD my local suburban MYER closes at 5.30pm. +- I want to pick up a newspaper for my grandmother on the way home after work. My local newsagent closes at 6pm. I have to end up going to the servo to get one if I can’t make it in time. +- I want to go to the bank to sign our loan papers. The mortgage broker didn’t organise it to be done online so I had to take annual leave to go to a branch since there were no weekend appointments near us in their 3hr opening window a Saturday. +- I call the bank in the evening and they answer (great) but then for some complex enquiries we had they need the “accounts team” to help and that team only works 9-5 weekdays…. so I have to call back then. +- I go to book my car in for a service online. They then tell me it’s only “confirmed” once someone from the service team calls me (during 9-5) to lock in the service. Why? That’s their process. I have to take the call during work hours. No VW dealer is open weekends anymore for servicing so I have to embarrassingly tell my boss I can’t work the full day to drop off the car at 8am and pickup at 4.30 before they close at 5pm, missing an hour of work that I have to make up in the evening. + +I feel like Australia has to evolve from this”9-5 as the default”. I reckon a lot of businesses would do really well if they were open later. + +For some reason we have this social contract that people must always go straight home after work on a weekday and all life admin can only get done during business hours somehow between work, or weekends. Thoughts? +RuPay card is India’s own card and payment gateway system, developed by the National Payment Corporation of India (NPCI). + +Visa, Mastercard, and American Express are also payment networks and have huge market share across India. Why do we need a domestic payment system when there are several well-functioning global networks like Visa, MasterCard, and American Express? + + +[https://www.business-standard.com/article/finance/issue-only-rupay-cards-seed-all-accounts-with-aadhar-by-dec-fm-to-banks-120111001413\_1.html](https://www.business-standard.com/article/finance/issue-only-rupay-cards-seed-all-accounts-with-aadhar-by-dec-fm-to-banks-120111001413_1.html) +According Wikipedia: + +[GDP per capita (UN):](https://en.wikipedia.org/wiki/List_of_countries_by_GDP_(nominal)_per_capita) + +Japan: US$ 40,063 + +World: US$ 11,339 + +[Number of billionaires per million people (Forbes):](https://en.wikipedia.org/wiki/List_of_countries_by_number_of_billionaires) + +Japan: 0.207 + +World: 0.350 + +Does it mean anything? I was supposing without deep thinking and research that there was a correlation between wealth of a nation as measured by GDP per capita and the number of wealth people +If this post reaches 100 upvotes I will yolo $1k into the most popular stock (one with most upvotes) you retards recommend. Will post asx/wallstreet bets related videos on my Channel when I get off my ass and create it. + +Edit:I'm an idiot and broke asx bets rules. $10k is minimum for a yolo. I have disappointed you all and as a result will add $500 worth of zip to my portfolio on top of the stock you guys recommend. + +Edit 2: Damn 61 upvotes in an hour! You guys really like watching people lose their money for entertainment lol. + +Edit 3: Alright looks like I’m definitely going to have to spend $1k. Make sure to upvote the stock you want me to buy before Monday, when I will buy and post proof. + +Edit 4: Thanks for all the stock picks guys, VDHG is the winner. Will upload proof to my YT channel sometime tomorrow. + +Final Edit: Link to video of proof-https://youtu.be/W0jaZsJtZP8 +42 years old, medium/high cost of living area. Total Net Worth $21M (up from $4M a month ago :) ) + +Like many of you, I have been dreaming of writing this post for years - I just achieved what for me is FatFIRE eligibility, though I do not yet know when/if I will retire. + +\--- + +This is my story... + +I graduated from a good (but not elite) small liberal arts college. I did not apply myself during college (regretted later), had no idea what I wanted to do. The big 5 consulting firms at the time (late 90s) were interviewing on campus...I had a few friends who had graduated in prior years that were enjoying similar roles, and smart people I knew seemed interested in pursuing these on campus interviews, so I did it. + +Career Chapter 1: 6 years at a big 5 firm + +They put me in the "technology" practice because this is where they were experiencing the most growth (this was leading up to the dotcom bubble). After 6 weeks of intensive (and very high quality) training, I was put in the telecoms practice, writing COBOL for large telecoms company billing systems transitions. + +After 6 years of good but not great performance reviews and promotions, I went from $32K starting salary to $75K. I felt pretty good about it. I had a small 401K (maybe $50K) to show for it. I had lost about $4K of other savings doing margin trading right in to the dot com bubble. I had maybe $10K cash saved. The firm had IPOd and the partner track had lost appeal. I knew I was underpaid based on seeing my clients get paid 25-50% more than I was for doing less work, and I wanted to make money....but working in a cubicle at a large telecoms firm sounded like hell to me. I started taking the LSAT practice courses and decided to go to law school. I was accepted at a decent state school and enrolled to start in the fall. + +Then I got a phone call....I former manager in consulting was starting a software company in Asia and wanted me to come join. He had raised $5M and was forming the initial team. I'd be coding, writing requirements, helping sell, and forming the product vision. I joined as a technical product manager and moved to Asia. + +I took a HUGE pay cut (down to just basic living expenses in a VHCOL city in Asia), packed my shit, accepted some stock options (I had NO IDEA how to even understand how they worked much less how to value them - I trusted the founder was giving me a fair stake). + +Career Chapter 2: The tech startup game + +Immediately I realized I was SO MUCH HAPPIER and more productive working in small teams on concepts that were just visions on a powerpoint, bringing them to life in a software product. + +After 3 years of struggling to get our first clients, I decided I'd had enough and wanted to work back in the states. On what? I knew I wanted to work at a tech startup. From being in Europe and owning new modern phones with internet access and java apps/games, I had this inkling that we were about to see a revolution in mobile computing. I wanted to get myself wrapped up in this wave and hoped my boat would rise with the tide. + +After spending a few months unemployed and getting increasingly nervous, I got a call from a recruiter about a mobile apps startup in my home US city (midwest). I jumped at it. I borrowed a friend's blackberry for the job interview to show I was "obsessed with mobile" (I had a really cheap and shitty samsung phone at the time). I got the job. We spent 4 years working on a platform that would enable easier development of mobile apps. Nobody wanted it. iOS and Android launched and made our system obsolete. The company shut down after burning $30M of investor money with almost zero revenue to show for it. But I had learned a TON about how to design, build, launch and test mobile apps. At this point I was firmly on a path as a software product manager, and was an ideal fit for Sr Mgr or Director level jobs at startups dealing with mobile apps. I had made a good number of connections with mobile apps companies during my time trying to market our platform. One offered me a job and I took it. + +This company was in the early stages of hockey-stick trajectory. It was a consumer content/utility app that became a household name over the next few years as we grew to many tens of millions of registered users. I grew with the company and was the head of product management for the company....when a large public company came and bought us for a couple hundred million. I had amassed options worth around 1% of the company but hadn't exercised them. I learned a tough lesson about what happens with taxes when you get accelerated vesting on stock options. I spent 3 years at a large public company working on the integration and other huge M&A deals. + +My salary had grown from around $100K when I started to $300K + 40% bonus plus around $1M worth of RSUs in the company. After I left the company cratered and my stock was worth zero. I hadn't been diligent about always maxing 401K at during this process. + +I had maybe $700K in post tax brokerage accounts being self-managed, $300K in a 401K, and maybe $25K in cash. + +I had now seen "end to end" all phases of a startup from company formation to successful exit. And had seen a few unsuccessful exit/shutdowns as well. + +Career Chapter 3: Planting a Seed + +Along the way I started a tech startup with a couple of other guys. We each put in $30K, raised some friends and family money, and hired 3 young people to be the "founders" and try to get it going. It struggled for the first few years and nearly died, but eventually started to find a niche, and customers, and was now growing revenue at a healthy clip, I was on the board and stayed close to activities but never worked there. It raised several million dollars from a VC and was regularly getting inquiries from large companies about buying it. + +This chapter isn't really standalone, it runs in parallel, I spent maybe 10 hours a month on this company from board meetings to making intros to interviewing people etc. I funneled a ton of top talent into this company - anyone good I worked with who was looking, I would get them involved - this was the most valuable thing I did over the course of the 8 years the company ran, and I would say this is definitely a key to being successful with an approach like mine. If you can start a company with a couple of other people with deep and solid networks who are able to consistently put high performing talent in to the company, good things can happen. + +Career Chapter 4: My first CEO experience + +I started my own software company with some friends. It wasn't particularly successful but got "acqui-hired" after 2 years, which made for a nice story and an ok outcome (founders got a few hundred K in cash), and investors were made whole for the most part. I was made CXO of the acquiring company and stuck around for 3 years. + +Chapter 4: Winning + +We're now 20 years into a successful software career with experience from qa tester to software developer to product manager to VPx and CXO at companies ranging from 3 people in a garage to massive public companies. I'm plugging along in a pretty cush gig pulling down $400K + options (in something that could be worth zero but still), the company is way overcapitalized. The seedling I had planted 8 years earlier was becoming a small tree, and the market was noticing. We were approached by a large private company and 6 months later we completed the deal. 7 individuals got proceeds in excess of $1M and that was the most gratifying part, to see these people who had built this thing from zero get paid (including a handful I had steered towards the company). + +My take ended up being $17M. + +So that leaves me wondering where to go from here? My wife makes around $800K as a lawyer, I am happy in my job but it doesn't really move the needle financially for me anymore. Our annual family burn is around $220K. Thinking about ratcheting this up to $350K or so, but always maintain the optionality to have zero income from me/wife, indefinitely. Which seems more than doable now. + +I think I would be happy as an angel/advisor type if I could find 5-10 companies to help out. Ideally I'd work 20-30 hours a week but have total flexibility on the terms of it. In my heart I am more of an operator and believe advisors tend to lack the details to be truly useful. + +I'm sharing this because I wanted to remind myself of the journey and hopefully it can be useful for others thinking about the various paths to fatfire. + +Comments/questions welcome! +**I’m not a financial adviser and this isn’t financial advice. I just have a knack for explaining things and lots of people have asked about this topic so I thought I’d share my own personal thoughts.** + +# The bull thesis + +To date, the GME play has been pretty simple: buy and hold and wait for the squeeze, whether that comes in hours, days, or weeks. Try not to have a heart attack during the intermittent gamma squeezes, keep your hands diamond strong during the manipulated downward spikes, and buy baby buy. + +It’s rapidly becoming apparent that we will soon enter the GME endgame. Before you can come up with an exit strategy or, if you’re still on the fence, decide whether to jump in, you need to form an opinion about the GME bull thesis, *without considering the short squeeze*. Your thoughts on the bull thesis will dictate how you play it from here on out. + +One braindead simple way to calculate a fair stock price for a company is to use a "times-revenue" valuation. You take the company's revenue ($6.466B in 2020) and multiply by some magic number (often 0.5 for low-growth companies and 2 for high-growth companies), then divide by the float (number of shares available to trade, 50.65M). A times-revenue multiplier of 0.5 gives a GME stock price of $64, while a multiplier of 2 gives $255. + +This isn't a particularly sophisticated method but whatever, I'm not a particularly sophisticated investor. + +Working backwards, if Melvin Capital thinks that GME is overpriced at $20 then a times-revenue valuation would suggest a multiplier of 0.16. That's extraordinarily low for a retail business. If you applied that multiplier to Best Buy ($43B revenue in 2020, 231.59M float) you would get a stock price of $30. Best Buy currently trades for $115, which works out to a much more reasonable multiplier of 0.62. + +What multiplier is correct? Well, the bulls point out: + +* Ryan Cohen (13% stake in GME, sits on the board) has a great e-commerce success story with Chewy, his previous company. +* Three new successful e-commerce board members from Cohen's firm were added to the board in 2020. +* Despite being a brick-and-mortar business and the pandemic, Gamestop's balance sheet isn't bad. They have approx. $550M in debt, but more than that in cash (net cash positive). They have minimal risk of default or bankruptcy in the near future, even without any change to company direction. +* Their traditional core business of game and console sales is not shrinking as fast as many people expected, with major new consoles still supporting optical discs and digital game downloads not accelerating as fast as feared, possibly due to stagnation in the ISP industry. So even if Cohen and his board seats take a long time to roll out new changes, the company is in little danger of any sudden spiral. + +So is Melvin right and GME is a dead-end company with no growth potential and should be valued with a times-revenue multiplier vastly below its competitors? Or is it more appropriate to think of it as a brand new business, being spring-boarded off the healthy books of an existing brand by a successful e-commerce businessman alongside a revamped board? + +How you judge that determines your exit strategy. + +# Exit strategy 1: Just along for the ride + +Maybe you don't care at all about GME's balance sheet or Cohen's planned turnaround, you bought a couple shares on a whim to be part of a unique movement. You don't intend to be a long-term Gamestop shareholder nor do you really care if you miss out on the highest peaks, so long as you make a few dollars and get to say you were part of the squeeze. + +If I were this person, what would I do? I'd pick a number between 0 and 3 that I feel represents my confidence in the retail market's current expectation for Cohen and GME, and multiply it by 128. I'd submit a limit sell order for all my shares at that share price. + +# Exit strategy 2: Pants-shitting fear + +You've got a handful of shares and maybe some options and you're up big. You don't know much about squeezes or fundamentals or greeks and every time there's a dip and the stock gets halted you shit your pants and your finger hovers over the sell button. But then the price jumps up and you wipe the drenching sweat off your face and promise to hold firm next time. + +If I were this person, what would I do? I'd sell all my options that expire sooner than 30 days at market open to reduce the number of pairs of pants I'm going through. I'd keep all my shares and longer-dated options until the news comes out that the shorts are being liquidated. And I'm not watching hedge fund managers get on Fox Business or CNBC or whatever, I'm following WSB and Twitter for rapid fire updates about short volume. If the short volume as reported by WSB posters drops below, say, 50% I'm selling everything and getting out. I might also pick a maximum times-revenue multiplier (something pretty high, like 4 or 5) and use that for a limit sell for shares. + +# Exit strategy 3: Diamond hands + +You've got bigger balls than most, and this isn't your first time dumping a significant fraction of your net worth into a company whose financials you've never looked at. You want to ride it to the peak, if at all possible, and you want to impress the pants shitters and the weak-kneed with your maximum gains. You are ok with increasing your cost basis to squeeze out extra tendies on the way to the top. + +If I were this person, what would I do? I'd sell my weeklies on open tomorrow and immediately plow every dollar of those 20-bagger returns into shares. If my longer-dated options were purchased at extreme IV I'd do the same for them, otherwise I'd let them ride. I wouldn't sell a single share until the final squeeze, when news comes out that Melvin is done, and then I'd unload (in my pants). See you on the moon, brother. + +# Exit strategy 4: u/DeepFuckingValue + +IF HE'S STILL IN I'M STILL IN + +# FAQ 1: Is it too late to get in? + +The best way to judge this is by looking at the exit strategies. Which person are you? If you're (1) then sure, buy a share or two to be part of a once-in-a-decade event, but think of it as a fun expense - a ticket to ride the squeeze train - not an investment. If you're (2) then hell yeah buy those shares baby but avoid options unless there's a dip. If you're (3) or (4) then you're already in and lying to your wife about how deep. + +# FAQ 2: Was that the squeeze?! Is it over? + +This must get posted every time there's a gamma squeeze. It's midmorning and price suddenly launches into the stratosphere, trading halts, and it crashes back down. No, that wasn't *the* squeeze. Gamma squeezes occur when options prices are rising (due to sudden increased options buying or volatility) faster than market makers can hedge. They're good to get your heart racing but a short squeeze is slower and more stable. + +# FAQ 3: How high will it go during the squeeze? + +Who knows. $500? $1000? $2000? There's really no way to know. If you have the stones to get those max tendies then you should focus on listening to the emerging news about Melvin Capital and Citadel rather than watching the price. Sell when they're covering and not a moment before. That will be the peak. + +# FAQ 4: How long will this take? + +Could be tomorrow morning, could be tomorrow afternoon, could be next week. At the rate that shorts are losing money it won't be much longer than that. If you're not in yet, this is the final boarding call. + +# FAQ 5: Who will buy our shares at the peak? + +The idea behind selling at the peak isn't to sell your shares to another retail trader, but to sell your shares to the desperate short sellers who are forced by their prime brokers to liquidate their positions at any cost. That's the difference between a perfectly legal and time-honored short squeeze and a pump-and-dump. This isn't about irrationally driving the price upwards with the hopes of selling to a bigger idiot, it's about buying and holding and waiting for the shorts to crack and beg us to sell to them. + +# FAQ 6: What is the next stock? + +Get this thought out of your head. Yeah you just joined WSB and made a few bucks and now you think you found yourself an investment club. **No**. This is a forum for folks to share their risky trade ideas, not a place to coordinate to manipulate the market. Yes, at the moment the consensus is that we can make a boatload of money off of dumbass hedge funds, but think of it less like a pack of draft horses following a path and more like a room of angry, shitting monkeys who happen, for the time being, to be throwing their shit in the same direction. + +# FAQ 7: Am I gay? + +Many of us grow up to assume that we’re straight only to find out, later, that we’re not. Sometimes, we realize this because we have sex dreams, sexual thoughts, or feelings of intense attraction toward people of the same gender as us. However, none of those things — sex dreams, sexual thoughts, or even feelings of intense attraction — necessarily “prove” your orientation. There are a few different forms of attraction. When it comes to orientation, we usually refer to romantic attraction (who you have strong romantic feelings for and desire a romantic relationship with) and sexual attraction (who you want to engage in sexual activity with). Sometimes we’re romantically and sexually attracted to the same groups of people. Sometimes we’re not. For example, it’s possible to be romantically attracted to men but sexually attracted to men, women, and nonbinary people. This sort of situation is called “mixed orientation” or “cross orientation” — and it’s totally OK. Bear this in mind as you consider your sexual and romantic feelings. + + +Edit: +- Thank you for all the awards and comments! +- I didn’t write the gay part at the end. Read more [here](https://www.healthline.com/health/am-i-gay) if you’re... ahem... curious. +- For the new folks who keep trying to fondle my balls, I’m not some genius or WSB autist-in-chief, I’m a bit player. I can’t get intercede with the mods or whatever you want me to do. +- Stop messaging me asking what you should do. Yes, Melvin Capital has been reported to have covered. You have to decide for yourself whether the squeeze is underway or complete and you should exit or whether you want to hold out for more, or take some profits and hold, or whatever. I just gave you a rough guide and some explanation of different thought processes, you have to make the call for yourself. + +**Important:** This post is very outdated now but it’s still getting comments, so if you’re just seeing this for the first time make sure you’re caught up on the current state of the market and all the other, more recent posts about GME. +I've only lived in my home for two years and never thought I would need flood insurance. I feel so fucking defeated after having to evacuate at 3 am in my kayak with my home in 3 ft of water. I don't want to rebuild I just want to leave after something like this. Is they're anything I can do to forfeit my home? Will filing for bankruptcy an option? + +EDIT: +I'm not sure if I'm doing this edit right, I've always been a lurker. Someone just accused me of starting a go fund me scam. I have not. Please donate your money to reputable foundations. + +I am great full for everyone's response. I am reading every single comment and up voting as I go. I am thankful for everyone time. + +my girlfriend, dog and two cats were the ones that lost our home. We are in our mid 20s (except for the animals), and strongly believe we will rebuild whether we file for bankruptcy or utilize FEMA assistance. Because of this we believe other families, especially with children, need the help more than we do. + +Please do not donate anything tied to this post, only reputable foundations. + +We have already begun a claim with FEMA to see what we qualify for. We are currently staying with family and being taken care of very well. + +Everyone thank you for your help. +There's a rich kid in town. Let's call him Melvin. He thinks he's really smart. He finds a coupon for $20 off the new Nintendo Switch during the holidays with no limit on number of units. This is easy. I'll go ahead and sell the Switch now for $200 and then buy it for $180 with the coupon. Easiest $20 I'll ever make. He goes and tells all his parents' friends at the Citadel Country Club that he can get them the new Nintendo Switch for their kids. He collects $200 each from 150 parents. He now has $30K and will use that money to purchase Nintendo Switches for $27K. He'll have earned $3K in just a few hours. His parents will be so proud. + +There's another kid watching Melvin this entire time. Let's call him Keith. Keith doesn't like Melvin. Keith is good friends with the guys over at Gamestop. He finds out that there are were only 100 new Switches shipped to the entire country. Keith and his 99 friends buy all 100 Nintendo Switches on the spot. + +Later in the day, Melvin goes to Gamestop with his $20 off coupon and says, "I'll take 150 Nintendo Switches please." Gamestop guy looks at him and says, "Sorry, we're all sold out." Melvin goes to the next Gamestop. Same story. All sold out. He goes to all the Gamestops in the city and can't find a single Switch. He won't be able to fulfill the orders. + +Meanwhile, Keith is telling all his friends about what Melvin promised the members at the Country Club. Nobody sell him the Nintendo Switch that you bought, no matter how much he offers you. Nobody likes Melvin, so everybody holds on to their Nintendo Switch. + +Melvin is in trouble. His parents rich friends are all asking when they are getting their Nintendo Switch. Melvins parents are angry, but they don't want to lose their standing in the Citadel Country Club. They have to help Melvin gets 150 Nintendo Switches. Now remember there are only 100 Switches in the city, but Melvin has created the expectation among the parents that there are 150. This is how you get a short percentage over 100%. Melvin has promised more than actually exist. + +The price of Nintendo Switches in the city skyrockets. Melvins parents were able to get a few units from Keiths friends, but they had to pay really inflated prices for them, first $1,000, then $2,000, now $3,000. It's nearing Christmas, and every rich parent at the Country Club is desperate for the Nintendo Switch they promised their kids. They can't trust that Melvin will be able to get them one. They all start bidding against each other for Switches. Everybody in town is in on the action now. Everybody wants to get a Nintendo Switch to sell at the country club for $10,000. Meanwhile, Keith and his friends are just hanging out and playing Animal Crossing. + +\[Edit 1: Thanks for all the love and awards. I'm really grateful. I'll try to answer as many question as I can on the thread and in the DM's\] + +\[Edit 2: A few astute monkeys have pointed out some flaws in my story. The example above is an oversimplification and I left a few important elements. So here's an expanded version and I've had to adjust some of the numbers above to make room for new wrinkles. + +In a more accurate version, Melvin went to his brother Steve's high school and borrowed 150 Nintendo Switches from the high schoolers. He tells them all that if he doesn't give them back within 24 hours, he will give them each $5 per day. The high schoolers know that it's not likely that Melvin will give it back in 24 hours, so they will be perfectly happy to collect $5 per day. He sells the 150 Switches to the Country Club parents for $200 each, but now he owes 150 Switches to the high schoolers. This is a naked short. He sold Switches that were borrowed but didn't own. Let's assume the Country Club parents wrapped the Switches and they are now under the tree and out of circulation. Although there are 250 Switches in the city, there are now only 100 Switches in circulation (Keith's friends). So you have a situation where Melvin owes 150 Switches to high schoolers and there are only 100 available (150% short position of float). Melvin is overconfident and thinks he will get 150 Switches same day or at the very worse case, the day after, and maybe have to pay 150 Switches x $5 penalty = $450. He'll still have made $3,000-$450 = $2,550. The $5 penalty due to the high schoolers is interest or Melvin's carrying costs, so the longer Melvin cannot get the Switches, the more expensive it's going to be for him. After 4 days, he's at break even and will lose $450 for each day he cannot get a Switch. It gets very expensive for Melvin and his parents very quickly. This is what's happening for the past week or so for GME. The hedge funds are bleeding money every day they cannot fulfill the IOU. + +For those who are asking why Melvin doesn't just pay off the high schoolers with money, let's say that the new Zelda game is coming out and they all want to play. They also know that the price of Switches is rising. Even if Melvin offered $800 or $1,000 to cancel the IOU, they know that they can no longer get a Switch on the open market. In addition, the high schoolers are probably aware of the rising trend in Switch prices. They may think that it's better to wait for a Switch that will be worth $15,000 in a few days than to get paid off by Steve now for $1,000. So while it's possible that Melvin could buy his way out of it, it's very difficult.\] +[https://www.pewresearch.org/fact-tank/2018/08/07/for-most-us-workers-real-wages-have-barely-budged-for-decades/](https://www.pewresearch.org/fact-tank/2018/08/07/for-most-us-workers-real-wages-have-barely-budged-for-decades/) + +&#x200B; +I visit this sub every single day and always walk away with new ideas and ways to look at the markets. + +'preciate you all + +https://preview.redd.it/rm0ugkifafq61.png?width=3126&format=png&auto=webp&s=3b1b2b68801f7f93f1eb443e1aa1bf6e11a8bc12 + +My go to plays are strangles and the wheel on /nq, /es, /gc amongst other plays and underlyings. +ICO raises 300k ETH. + +ICO see's ETH dropping, ICO sells ETH to make sure they have fiat runway. + +ETH price drops. + +Another ICO raises 250k ETH. + +ICO see's ETH price dropping more. Cashes in more ETH. + +People see ETH dropping in price. + +People panic. + +People sell ETH. + +Price drops. + +More People sell ETH. + +More ICO's liquidate ETH. + +etc etc. + +This is like a chain that's been going on. Please stop throwing your ETH at random ICO's -- none of the recent ICO's deserved the money they recieved -- it's just getting crazy. +So after my deposit today I just hit on average 1 dollar per month! Given some months will be more than others but I’m pretty happy! My first goal of investing is complete! My next goal is $50 per year. I know it doesn’t sound like much but in my situation it is. + +I here lots of people talk about the snowball effect and the power of compounding. I agree with that, but I wanted to ask everyone here at what point did you notice the snowball start rolling? I’m yet to see it for myself and I’m just wondering at what point do you guys notice it take place? Thank you so much! This is such a great sub + +Edit: Some people saying my age I should go for more growth stocks and dividends aren’t for me. I’m 18 and I have growth stocks such as Amazon, Tesla etc. This is also accounting for ETFS which I don’t include in my 1 dollar per month. +Hey guys, + +I'm a long time follower/lover of this subreddit and the FI/RE movement. I happened to have retired at 36, though maybe not via the totally traditional route. I shared my story on my instagram page and it struck a chord so i thought you guys might want to see it here. The imgur link below has the story! + +https://imgur.com/a/xjs2c7K + +This really isn’t supposed to be a "see how easy it is" or "anyone can do it the way I did" post. I fully acknowledge I had a huge amount of privilege and unfair advantages. Graduating from college debt free thanks mostly to my parents is something that was simply gifted to me and allowed me to start a company. And living below my means and buying and holding index funds didn’t get me here alone. + +That said, I did grow my net worth to over $100K on $36K/year living in high cost of living San Diego, and was well on my way to millionaire status within another decade or two. Also, had I taken that Microsoft job and lived at a similar level and invested, I’d be almost where I am today. So, just because I had a windfall, don’t write off the most likely and efficient way to build wealth: Live below your means and buy and hold index funds. + +For you track fans, I ran the 400 and 800 in 46.8 and 1:49.8 + +Hope some of you might find this interesting! I'm happy to answer any questions if you have them! :) + +Edit: A lot of have asked what I'm up to now. Feel free to check out my [instagram](https://www.instagram.com/personalfinanceclub/). I'm not selling anything, make no money from it, etc. If linking to this is too self-promotey I'll happily take it down. :) +Hey everyone, posting on a burner. I'm looking at joining a fitness/social club. There is a massive wait-list and it would take 7-9 years to get full membership. This would be well known within the city I live in, and is essentially the most "elite" club. + +Membership fee is $55k to join (going up to $65k July 1), then $5000/year. You only pay a fraction as you gain more membership privileges over the 7-9 years to get full membership. + +I'm mid-30s, my wife early 30s, single-income. + +Here's the rub, where we can't decide if we want to join. + +1. Many of our friends are members, but they are in careers where they benefit from relationships with HNW individuals. My career is in healthcare, it is in no way desirable or materially beneficial for me to attract clients from social circles. Our friends there are real-estate brokers, lawyers, finance people etc. + +2. There are pools, a nice gym, some classes, a ton of kids programs, a skating rink (not a full-hockey rink), a bunch of restaurants and meeting spaces. It's primarily tennis/squash/racquet sports. There is a golf course, but it's a side membership and I hate golf. Neither of us have played racquet sports in the past. All the regular fitness accoutrements are available (massage, PT, personal training at additional cost, childcare for 2h free). + +3. We have a large vacation property 1h from our primary residence in a world-renowned resort area where we spend every spare weekend, typically there from Thursday evening to Sunday night. This significantly limits how much time we will spend at the club until our first child is in school/team sports precluding us from leaving town. My wife and I were both fairly high-level athletes and strongly believe in team sports, none of which are learned well in small environments with limited competition such as these. You could become a world-class tennis player here, however. + +We have one 1.5yo and another on the way. We are torn because the social aspect seems like fun, but we both prefer group fitness (F45, Orange Theory, etc.), own peloton bikes and tread, and have a large home gym we use religiously, which was a game changer once we had kids. If we don't join now, it will cost more and our kids will likely be too old to benefit by the time we're full members. They would get discounted memberships for their families later in life. + +Our income is 7-figures, NW approaching 8-figures, so it's not a crazy amount of money but still seems like a lot given we would have to figure out exactly what we want to do there. The major draw is to have our kids take part in swimming and tennis lessons etc., and to hopefully contribute to their social circles should they choose a career where this may be beneficial. Finally, we are not really status-oriented people, so the traditional draw of being able to say you're a member of this club holds little weight for us. + +We're leaning towards not joining, but we won't know until our kids are older whether or not this was the right move. If it would be really beneficial for them, we would. Interestingly knowing some second-generation members has been part of what gives us pause to join, they seem to share a somewhat elitist attitude and strongly identify with being club members, when their own paths in life likely would not have afforded them the opportunity to join. Obviously this is multifactorial and cuts to the core of wanting your kids to be internally motivated and successful. The sample size we have is small, and we don't want one or two bad apples to colour our whole decision. + +For those who have been members of such clubs, was it worth it? + +Edit: poorly worded pt 2. +“In reality, poverty is on the rise. With inflation going up and federal support ending, households are suddenly finding it much harder to make ends meet. Since the wildly successful Child Tax Credit expired in December, nearly half of the parents who benefited from the program have reported struggling to afford to feed their families, and more than 60 percent say they can’t pay for basic necessities. Child poverty shot up just under 5 percentage points between December 2021 and January 2022, meaning 3.7 million more kids were suddenly thrown below the poverty line. + +It’s not just households with kids: 54 percent of elderly single women and 45 percent of elderly single men either qualify as poor or don’t make enough to pay for the essentials. Just under two-thirds of Americans were living paycheck to paycheck by this past June, up 4 percentage points since a year earlier + +Those that do have work, meanwhile, don’t earn nearly enough from it. News about rising wages often ignores that the cost of everything else is rising, too, and at a faster rate than workers’ pocketbooks can keep up with. One in three workers make less than $15 an hour, which is already worth quite a bit less than it did when the Fight for $15 campaign started ten years ago, while roughly 243,000 workers earn as little as the federal minimum wage, which has been stuck at the same puny level an ungodly thirteen years, and is today worth the least it has since sixty years ago. + +Americans in turn are less and less able to afford the skyrocketing price of keeping a roof over their heads. This past May, the median asking rent for the whole of the United States cleared $2,000 a month for the first time in history after rising 14.8 percent over the previous year. This effectively means that only households making $80,000 a year are now paying rent that’s officially “affordable” by government standards. Even mobile homes have seen their rent shoot up, thanks to private equity firms and other investors buying up them up as cash cows. + +As a result, the already bad US homelessness crisis is getting palpably worse. Shelters across the country are seeing their waitlists double and triple, with single mothers and even families with jobs more and more likely to ask for help. This isn’t just anecdotal evidence: cities and states all over the map are recording an uptick. + +All the while, Americans are winding up deeper and deeper into debt to keep their heads above water. Household debt is on the rise, and 43 percent of Americans expect to sink further in the months ahead, most of it thanks to increasingly expensive mortgages, but much of it through credit cards. For many, it’s the only way they can pay off treatment for health and medical issues, which, coupled with the dysfunctional, corporate insurance-dominated US health care system that chugs along unreformed, has left one hundred million Americans with some form of health care debt today. + +Any sane person would read all this and tell you that job numbers and GDP — which tells us only about the total wealth of a country in a system where those at the very top are taking massive shares of it for themselves — don’t give you a very full picture of this economy. “ + + +https://jacobin.com/2022/08/recession-economy-poverty-underemployment-wages-debt +Don’t get me wrong, I love Bitcoin. It was the first coin I ever bought. I just hate how the whole market is coupled with BTC and mirrors it’s every step. + +I really wish this wasn’t the case. There are so many projects that deserve pumps right now regardless of the trajectory of Bitcoin’s price. + +Its a shame that some platforms like AAVE (which I think is the best for lending) or other like BitDAO which has already poured hundreds of millions of dollars into DeFi considering they have the largest treasury in the market, are all following Bitcoin’s price. + +I think it’s about time the market decouples and utility tokens finally get their fair shade of pumps according to their tech and performance. +My wife and I just offered 30% OVER asking on a house and got turned down because we didn't waive our right to an inspection. We just can't seem to make a house happen, and we're pretty well off in a low demand area. This society saddens me in ways I can't express. Our governance has failed us. I wouldn't participate, but I won't even be that sad or surprised when the pitchforks come out. I know people desperate enough to be talking about it. It's just sad. Rant done. + +Edit: We also got turned down because I'm a disabled veteran wanting to use my VA loan instead of a conventional loan. Our real estate agent has been hammering us with the message that we need to switch to conventional and I just refuse to let go of a benefit I've earned. + +Edit 2: my reply to the comment that this is just a free market in action. "If you think governance, lobbying and private equity law has nothing to do with what's happening in the housing market right now, you need to do more research. Shelter is an essential human need, and families looking for shelter have to compete with massive corporations and PE firms (domestic and international) who buy up massive inventory and drive up rents to make a profit on the investment. Well governed Capitalism is a good system. Poorly governed capitalism is a nightmare for people like us. What about a law limiting the purchase of certain single family residences to single families who are going to live in them so disabled American veterans and other hard working Americans aren't priced out by Wall Street and Chinese investors? + +Edit 3: My reply to further comments that I'm against a free market: I'm for a well governed free market. Yes. The constitution sought to secure "THE BLESSINGS of liberty", not the blessings and evils. +Stop down voting people for asking questions and clearly being uneducated or that have am obvious misunderstanding of something. + +Its such a negative way to treat someone that is seeking help and advice or a second opinion, its funny how someone will get 15 downvotes on their opinion of what they think is correct and only 1 response telling them the right thing. + +Stop with the negativity and give useful advice to those clearly asking for it + +Edit: thanks to everyone who has given awards and up votes, I hope this will change the overall attitude of the sub into something much more positive ♥️ +This follows from the government's ill advised cut in small savings rates last evening (albeit withdrawn now presumably for political reasons). I wonder if the policy establishment is using an incorrect template to try and stimulate the economy. + +Conventional economic theory tells us that as rates are lowered, savers are disincentivised to save and therefore they will consume more. This works in countries with a solid social security net. It is quite unlikely to work in a country like India where people save for a multitude of reasons - unforseen health expenses, education expenses, children's marriage and most importantly towards building a retirement corpus since most private sector employees are outside the purview of pension. Worryingly, it is exactly these items that are inflating at a stunning pace (quality healthcare and quality education). + +Let me illustrate this with an example. Assume you're a 30 something professional who puts away some money every month towards building a retirement corpus. There's a target that you have in mind which will secure you and your family financially. If the RoI of your portfolio suddenly drops, will you throw caution to the wind and go buy a TV or a crate of beer? Of course you won't. You'll save even MORE so that you reach that goal. A more direct example is retirees who live off interest income. If rates fall, it is but natural that they'll cut back consumption expenditure - they're not going to deplete their savings even more just because interest rates fell. + +Yes a fall in interest rates does help investments through mortgages and corporate sector borrowings. But is this really where we're lagging as a country? All evidence points to surplus capacities across sectors in India. We've missed the opportunity to be the factory to the world so export led growth cannot possibly be the end game. A revival has to happen through a rise in domestic consumption. And that is not going to happen unless the government either invests heavily in social infrastructure (free education, free healthcare etc.) or stops distorting portfolio returns by artificially lowering real rates. + +To be clear I am in no way advocating that interest rate hikes will save the economy. I'm just saying that there's a balance between savers and borrowers and currently we're probably in an unstable equilibrium below that balance. + +Thoughts and criticism (which I'm sure there will be a lot of) are welcome. + +PS. I am a bond portfolio manager myself and lower interest rates actually benefit me but the point here is bigger than just one's portfolio returns. +It's not that becoming a SWE and/or getting an IPO windfall that you don't know how to spend isn't admirable, it's just the people who got here with no college, no privilege, maybe a stint behind bars or in rehab are so much more fascinating. Their unconventional paths and brushes with and experiences of bankruptcy and oblivion only copper-fasten their true hero status. So if you are a Fatty lurking here thinking, I'm different, I want you to know that some people would much rather hear your story than another tech path to wealth. Thanks. +If this last year has taught us anything, it’s that isolation can be tough. Feeling like you don’t have a proper pillar of support can be alienating. + +Sometimes you need someone whose just a good shoulder to lean on. Whose in your orbit, but doesn’t demand your gravity. Whose just a nice guy. + +That’s who the NiceGuys have been to the lovely ladies of OnlyFans. And because of that, many of their workers are partnering up with the boys so that they can now bring some comfort to you. + +That starts first and foremost by launching a token with all the right kind of advertising that is already exploding in price. If you haven’t heard it before, then understand it now: sex sells. + +After that, it’s right to NFT’s produced exclusively by the ladies, with physical items attached. That’s right, now you kind folks out there can put your cryptocurrency to good work, keeping shameful transactions off of your credit card bills and off your personal history. + +So whatever it is you may need to procure from these fine women, just know that $NICE is here to negotiate what you need without actually exposing these ladies to savage apes like you. + +If you’ve seen CUMMIES take off in recent days blasting to a $250M market cap, then you know exactly what kind of potential we’re talking about here. We’re talking about a project that can gain the attention of even the most elite of elite (even if they’re a complete clown) just from applying a simple lesson: SEX SELLS. + +Think about that, and more than just the every seven seconds you think about sex. With the market primed to take off once again, this is the next project to rip off 10,000x out the gate and make every early investor a milly in a quickie. + +And again, this project JUST launched. It’s day one and this has all the momentum, ideas, and partnerships to make this not just a competitor to CUMMIES, but the market leader. + +After all, the name is hilarious, but is anyone really going to partner with that project longterm? Is that really a brand that’s going to make it? + +They might have prematurely blown their load with shock value, but the NiceGuys know it’s all about the long game. And I promise you, these boys won’t be finishing last. + +&#x200B; + +[Website](https://niceguys.care/#/) + +[PancakeSwap](https://exchange.pancakeswap.finance/#/swap?outputCurrency=0x0cbedf181b230005216e3665eb9e521358939390) + +[Telegram](https://t.me/niceguyscare) +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 just want to say thanks to all the apes that check in on reddit to read read the DD, watch the memes and upvote good posts. + +You guys are the reason everything isn't crumbling. + +You can already see that the people who are too engaged are getting consumed by the whole situation and drama ensues. + +The silent apes are just as important in my eyes as the clever apes doing DD, because the silent apes are the ones reading and acting upon it without creating drama and tension. + + +So if you are a lurking ape then, **THANK YOU** . + + +Apes together strong! + + +**EDIT + +I just want to clarify that I of course am also grateful of the clever apes posting the amazing DD, It is some next level investigating that has and still is taking place. + + +**EDIT 2 + +I see some people are taking offense from this post and I just want to again clarify that I am not trying to say that people who are engaged in the community are less worth than the lurkers. + +I was just trying to say thank you to some of the people who aren't normally seen or heard from. +https://www.ft.com/content/ff83ed04-3bb5-444a-9af0-1b466201ef67 + +A senior Federal Reserve official has warned the US cannot afford a “boom and bust cycle” in the housing market that would threaten financial stability, in a sign of growing concern over rising property prices at the central bank. + +“It’s very important for us to get back to our 2 per cent inflation target but the goal is for that to be sustainable,” Eric Rosengren, the president of the Boston Fed, told the Financial Times. “And for that to be sustainable, we can’t have a boom and bust cycle in something like real estate. + +“I’m not predicting that we’ll necessarily have a bust. But I do think it’s worth paying close attention to what’s happening in the housing market,” he said. + +According to data released by the National Association of Realtors last week, the median price for sales of existing homes was up 23.6 per cent year-on-year in May, topping $350,000 for the first time. + +Rosengren said that in the Boston property market, it had become common for cash-only buyers to prevail in bidding contests, and that some have been declining home inspections to gain an edge with sellers. + +“You don’t want too much exuberance in the housing market,” Rosengren said. “I would just highlight that boom and bust cycles in the real estate market have occurred in the United States multiple times, and around the world, and frequently as a source of financial stability concerns.” + +He said the roaring housing market should be a factor as the central bank considers slowing or removing some of the hefty monetary support for the economy introduced during the coronavirus pandemic. + +The Fed has been purchasing $40bn in agency mortgage-backed securities per month alongside $80bn in monthly Treasury debt as part of its asset purchase programme. + +Fed officials are now beginning to discuss trimming that bond buying. And Rosengren said that “when it is appropriate” to begin that process, mortgage-backed securities purchases should be reduced at the same rate as Treasury purchases. That would mean the direct support to housing finance would wind down more quickly. + +“That would imply that we would stop purchasing MBS well before we stopped purchasing Treasury securities,” he said. + +James Bullard, president of the St Louis Fed, is among those who have called for the Fed to re-evaluate its support for the housing market against the backdrop of what he noted were broader concerns about a nascent bubble. + +Robert Kaplan, Dallas Fed president, has also advocated for the purchases to end “sooner rather than later”, especially given mounting evidence of financial speculation in the housing market. + +The Fed has said that it would begin reducing its asset purchases only once it had made “substantial further progress” towards its goals of 2 per cent average inflation and full employment. + +Given the rapid recovery, Rosengren said “the conditions for thinking about whether we’ve attained substantial further progress will probably be met before the beginning of next year”. + +The latest economic projections by the Fed showed central bank officials increasing interest rates from their current rock-bottom level in 2023, earlier than previously forecast. They also exposed a greater divide within the Federal Open Market Committee on the expected path of monetary policy than had been the case. + +“There’s a great deal of uncertainty in the forecast,” Rosengren said. “Some people are going to have very rapid growth [and] the conditions for tightening policy may be happening sooner. And other people are going to think that the recovery is going to be a little slower.” + + +I know am thinking little ahead of time, but people who own petrol bunks in India make a lot of money and owning a petrol bunk few decades ago wasn't as expensive as it is today, people have been owning it from generations. + +What you think about EV stations? Would it be less expensive to own it if someone enters early during this disruption? + +There are two more possibilities that I thought: + +1. Automobile companies can themselves own EV stations directly and general public won't get an opportunity. +2. Old local players with petrol bunks will simply revamp their place in such a way that they are able to cater needs of both types of the vehicles. This may create an entry barriers for new folks willing to get in. + +Again, I understand am thinking bit ahead of time and we are discussing about possibilities only. +>Intel Capital, the investment arm of global tech and semiconductor major Intel corporation, will pick up 0.39% equity stake in Jio Platforms for Rs 1,894.50 crore, making it the eleventh investor to pick up stake in RIL’s telecom and digital business in about two months. + +> +>Intel's investment will take the total investments in Jio Platforms to Rs 117,588.45 crore for 25.09% holding. The latest investment pegs Jio Platforms’ equity value at RS 4.91 lakh crore and an enterprise value of Rs 5.16 lakh crore, Reliance said in a statement on Friday. +> +> +[https://economictimes.indiatimes.com/tech/internet/intel-capital-invests-rs-1894-crore-in-jio-platforms/articleshow/76761879.cms?utm\_source=contentofinterest&utm\_medium=text&utm\_campaign=cppst](https://economictimes.indiatimes.com/tech/internet/intel-capital-invests-rs-1894-crore-in-jio-platforms/articleshow/76761879.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst) +Now that I just got started in my /r/realestateinvesting journey, I'd love to hear some stories about people who really made it in the game. For example: + + +* With how many units did you start and how many years ago? How old were you? What was your financing like? +* After that first purchase, how did you increase your portfolio? How did your financing change? +* Where are those units? Where are you located? Own out of state? +* From your first purchase until now, how has your passive income changed? What about overall net worth? +* Any words of wisdom? + +And anything else you may feel it's relevant! I always love those "this is my journey AMA" posts, and I save them so I can refer back to them later. It's good to try and learn from other's journeys. + +Goal is to replace my W-2 income with passive income in the next 5 years. I’ve moved out of some underperforms lately and into SCHD. Anything I should absolute re-think? + +Roughly 80% of this is in my taxable account with the rest in Roth IRA. +I feel that UPI has changed our lives drastically in a very short span of life ever since it has come. From auto drivers to kirana stores, more and more people are adopting this app based payment model in India. However, I still think it needs the following improvements and I hope the NPCI implements all of them: + +1. **Don't make debit card mandatory for authentication**: The world is moving away from card based payments and the hegemony of VISA/MasterCard, why require it or make it mandatory for creating app based UPI accounts? I understand that using only the mobile OTP may not be a secure way of authenticating an account holder but debit card isn't the only way to authenticate, there are many others like: + - *A virtual debit card:* Most banks allow you to create virtual debit cards by logging into their NetBanking system these days, why not allow the first time UPI authentication using this virtual card? + - *NetBanking Generated Code:* You can require the user to login to your Netbanking system and generate a code from there which can be used as a second factor code for creating the UPI ID. + - *Email OTP:* Apart from the mobile OTP, you may also require an OTP sent to Email, having two factors of authentication is more reliable than one. + - *Any other number such as last month's ending balance:* Only the account holder can know what was their account's last month's ending balance. This is just just one factor, I'm sure there are many others. +2. **Make ATMs compatible with UPI, allow limited cash withdrawals using UPI:** Again, this is needed to end the VISA/MasterCard hegemony in India. The only reason most of us commoners use debit cards is to withdraw cash. If you allow us the convenience of cash withdrawals using our UPI apps instead, I think we can do away with cards for good! And its not as if we need to withdraw lots of cash, there is only that occasional maid or nanny or car driver who totally insists on cash! For about 95% of transactions, we already use digital payments. So even withdrawal limits of 3K/5K per transaction is totally fine with us. +But its unfortunate that the efforts in this regard (UPI enabled ATMs) are quite low and lukewarm until now. UPI has been a success story and the world is praising us globally but no major Indian bank like SBI/BOB/HDFC has come forward with an initiative of doing this. Only recently, a bank named [City Union Bank seems to be taking an initiative](https://www.livemint.com/industry/banking/atm-withdrawal-no-cards-needed-scan-qr-codes-on-upi-app-and-withdraw-money-how-it-works-11617272305225.html) but I don't see much enthusiasm by the larger banks in this regard. I really hope NPCI/RBI/FinMin/etc. takes the lead and gets this done soon! +3. **Don't interfere with market mechanism too much:** The recent cap of 30% transactions placed by NPCI on app providers like Google Pay, Paytm, etc. seems to be there for ensuring competition but the side effect might be delays and/or service unavailability for users/customers. Please make sure the service to users isn't affected while you are ensuring free and fair competition among the app providers. + +**Edit** + +As a bonus fourth point, app providers like Paytm should allow their users to change the default generated UPI ID because *<phone-number>@paytm* is quite bad from privacy perspective and privacy is one of the reasons why people switched to UPI based payments from the traditional *Account No + IFSC code* one. + +As a bonus fifth point, a very "nice to have" feature with UPI is that of a "mini statement" along with available balance. The app itself does provide a transaction history but that pertains to only UPI transactions done through that app. Something like the mini statement which we get from ATM or an m-passbook generated on screen by entering the UPI pin will be a mind-blowing feature! But I guess that can come some time later once the load on UPI network is lessened. +Something I've learned in my career in finance is that my most pleasant clients (who, coincidentally, are also HNW/UHNW) are NEVER flashy with their money. Growing up I was tricked into thinking wealth meant opulence and showy luxury items, now I know it's very much the opposite. One of my clients is on the cusp of moving into the eight figure range and you'd never know it by looking at him. The last time we talked, he had on the finest dad-attire: New Balance sneakers, plain khaki shorts, old baseball cap. His ride was a 2014 Chevy Cruze. + +Because of his modesty, he enjoys his wealth privately and in comfort. Are there any cautionary tales out there about being too flashy with one's money? +**BEHOLD! THE GOLDEN CROSS!** + +&#x200B; + +https://preview.redd.it/gqxxieugx4i91.png?width=3840&format=png&auto=webp&s=5f0ab7bb7d7150166c51b9bd21284874c9a4c1a4 + +&#x200B; + +https://i.redd.it/aq17itxhx4i91.gif + +&#x200B; + +Here's the 2 year graph: + +&#x200B; + +https://preview.redd.it/gh3pwpvjx4i91.png?width=3840&format=png&auto=webp&s=7a9743861fd0b54b1428a5b871d05c110da3345c + +and the 2yr log scale graph: + +&#x200B; + +https://preview.redd.it/qfkyxfqmx4i91.png?width=3840&format=png&auto=webp&s=b58234083c35b5d44d8bc7aaed229ea2ee56a7df + +&#x200B; + +The Golden Cross is now confirmed. We even got some decent volume to solidify this beauty. I'll be looking for more tomorrow. + +&#x200B; + +&#x200B; + +**Tracking the Convergence:** + +Today, August 16, 2022 the 50 day SMA is $34.96, and the 200 day SMA is $34.91 + +50SMA is $0.05 over the 200SMA + +[Monday, August 15, 2022](https://www.reddit.com/r/Superstonk/comments/wp9b66/golden_cross_update_tracking_the_convergence/) 50 SMA $34.78, 200 SMA $34.93 = a difference of -$0.15 + +[Friday, August 12, 2022](https://www.reddit.com/r/Superstonk/comments/wmuhpy/golden_cross_update_tracking_the_convergence_this/) 50 SMA $34.66 - 200 SMA $34.95 = -$0.29 + +[Thursday, August 11, 2022](https://www.reddit.com/r/Superstonk/comments/wm0qo9/golden_cross_update_tracking_the_convergence_now/) 50 SMA $34.45 - 200 SMA $34.97 = -$0.52 + +[Wednesday, August 10, 2022](https://www.reddit.com/r/Superstonk/comments/wl7gwv/golden_cross_update_were_not_there_yet/) 50 SMA $34.29 - 200 SMA $34.99 = -$0.70 + +&#x200B; + +&#x200B; + +**Thank You** + +Thank you to the apes that have been following along, and a special thank you to u/jab136 for adding value to these posts by projecting what prices $GME needed for the GC. + +This is where my Golden Cross updates end. I'm very excited to see what happens next, there's a lot of cool theories and DDs that speculate some interesting things. While tracking the GC I thought it was best to stay impartial and just simply present the data, especially when other people were jumping the gun and posting things they shouldn't have. But now that it's happened I think I can finally print some of these: + +🚀🚀🚀🚀🚀🚀🚀 🚀🚀🚀🚀 🚀 + +I enjoyed making these posts and connecting with y'all after being mostly a lurker here since the beginning. If there's anything else I can do to help around here, I'm open to suggestions. + +&#x200B; + +https://i.redd.it/htha1twtx4i91.gif + +&#x200B; + +**FAQ:** + +What is a Golden Cross? [Investopedia's definition](https://www.investopedia.com/terms/g/goldencross.asp), it's when the 50 day Simple Moving Average using closing prices crosses above the 200 day SMA. The Golden Cross is a lagging confirmation indicator, meaning that it confirms we are currently in a bull market. + +What happens after the Golden Cross? MOASS? Let's find out together. + +Why are you tracking this? Here's [my post from last week.](https://www.reddit.com/r/Superstonk/comments/wkno2e/golden_cross_update_t2_since_a_post_faked_it/) I want to give apes accurate information. + +&#x200B; + +&#x200B; + +TLDR: Today is the Day of the Golden Cross. + +Edit: mistyped by one penny +Edit: lot of questions. On my next post I'll try update the FAQs because I'm getting the same questions all the time. I would try answer them but busy with work now. + +Yeee Haw. EGR Got me from 10 to 12 in a day. That was dumb luck but still. + +Bought 8500 shares at 0.645 and managed to sell for a sold 0.92, 42%. Bring the total to $7800. + +I'll release an update when I figure out the next buy. Buy Price will be approx 7500 and selling approx 9000. + +&#x200B; + +[Trade History](https://preview.redd.it/1cbj92ovdcg61.png?width=567&format=png&auto=webp&s=d14cd400b3bd084977ac317bdc2ecb4a24f77b51) + +FAQ: + +WTF are you doing? + +Trying to turn 1k into 1M by 40 consecutive trades by cashing out at 20% gain and reinvesting the lot. + +Why? + +Only risking 1k. + +CGT? + +Future me problem, trade 20ish me, will have to figure something out. + +Autism Levels? + +Max Power + +What if stock goes sideways, down ways, backways or rear ways? + +Sell and rebuy at next closest stage +Someone asked in r/personalfinance what they should do with a spare 25k they didn't need till 2020. I suggested ether and possibly bitcoin, as I see a large possibility in better returns than institutional investments. I was banned for "pumping" +I have a friend who is a real tight arse. The type that invites you out for a meal and brings no cash, "forgets" to bring his wallet, says he will transfer the money but never does, hasn't got his phone connected to his bank account for EFT payments, says he will give you the cash next time he sees me but always forgets. Additionally this bloke has the worst memory of anyone I know, so if I remind him of when he owns me money I have to go back over the circumstances of the debt which really gives me the shits. I also I hate having to remind him of what he owes primarily to consider his personal feelings, but I'm fast getting over that as well. + +Normally I would just take it on the chin and forget about it, but this same friend has now developed the habit of reminding me often about how fast he is paying off his mortgage, oblivious to the fact that it's his friends who are helping him pay off his mortgage due to his cheapness. + +I've tried shaming this dude and calling out his cheapness but it doesn't seem to impact on him. Anyone have any strategies they would like to share about how I could deal with this dude? I'm seriously at the stage where I feel I should cut him adrift, but friendships of 20+ years are hard to sever. + +Any advice? +Hi guys, + +I'm currently in the middle of a situation. + +I currently live in Sydney with parents (27M) on a salary of 60k (net) or 85k gross. I feel like the current state of the economy will further postpone the decision to move out (either renting or buying a home). I feel 85k is average and won't really get me anywhere (even if I do ask for a raise to 100k) if I do decide on moving out especially with interest rates and the rising cost of living. + +I got an offer to work in Vietnam on a salary of 43k AUD (net). The cost of living is significantly lower (rent there at a high end apartment in the city center is about $800 AUD a month) and food is cheap so even if inflation rises in Vietnam, the salary I am getting would still be more than enough. I feel like the money that I earn will go far and would give me an independent and good lifestyle compared to living in Sydney. I do intend to live there long term (if that is the case) and maybe even permanently as I do have plans. + +Just wanted to ask fellow AusFinancer, if given the opportunity would you ditch Sydney and move to somewhere that's good value for money? + +FYI, there is an issue whereby my mother (a Vietnamese refugee) absolutely hates the idea of me moving there, but I see that Vietnam has changed economically and is more open as opposed to the dark days of the 80s when famine was rampant. +This sub has turned into a place for people who obviously don't have any financial problems bragging about how they paid off their loans in 1 fourth off the time or paid off 50000 dollars in credit card debt in 2 years etc. While im very happy for you guys, you wouldn't know poverty if it bit you on the ass. +If I didn’t know any better, I’d say Solana is gonna hear from the SEC pretty soon. Their ability to shut down the network on a whim today proves extreme centralization, thus making them a security. And, this has happened several times. Other areas of concern are they have 600 nodes managed by three companies, 95% of total tokens are owned and controlled by VC, Team members, and the foundation. 5% of tokens in circulation are available to purchase. Most of that 95% of the market is locked in staking and has a two day unlocking period. Sending good vibes to the small bag holders that big bags don’t dump. After thoroughly reviewing the project, I’m just not brave enough to catch this flight. +Updated with commonly asked questions. + + +PayTM and Zomato investors seem to have found a way out of their poor investment by passing the bag to index investors. Are we the ones who will hold the bag when it all goes down to 10% of their listing price? I wouldn't touch these companies with a long stick if I had to choose my investment. Is there any way we can collectively raise voice against these inclusions? + +Some members have asked - why is it bothering me now as index fund is supposed to track without any application of mind? + +Earlier, stock couldn't list publicly if the company did not show profit. That rule changed to allow companies like PayTM and Zomato to list. + +However, there was no subsequent rule change to stop these stocks getting tracked through passive investment funds like nifty next 50. Here, there is an error of omission and looks like it by design. + +Additionally now the rules have changed further to allow these funds to be included in index funds with just 1 month of trading. This means any future companies like Zomato or PayTM can get large backing through scrupulous valuation method and as soon as the mandatory holding period of anchor investors are over, they will be able to sell it to the index funds. This, leaving us holding their bag. + +Another update: + +People asking- listed firms can also make losses. So why bother? + +Yes, listed firm can make losses but the operative phrase here is companies like Zomato and PayTM have "never made profit". + +S&P500 defines it's criteria as follows: +"its most recent quarter’s +earnings and the sum of its trailing four consecutive +quarters’ earnings must be positive." + +And this is the reason Tesla became eligible to enter S&P500 only last year. +Everyone seems to treat interest rate hikes as the only way to drop investment to get demand in line with supply. Aren't there other ways? + +Imaging a inflation bond where every individual could buy $10k with 15% returns and a year expiration. Everyone chomping at the bit to buy a car, go on vacation, get home renovation could park their money while supply is low and pull out the money if they fall on hard times (recession). + +Why isn't there a discussion on anything other than the Fed interest rate? +If you google “how does Renaissance Technologies’ Medallion Fund make +70% annually” you’ll mostly get a rehash of the same talking points: +- They hire mathematicians and computer scientists, not investment managers. +- Only their ~300 employees can invest in it. +- They cap the fund at 10B, disbursing all additional profits instead of reinvesting. +- They only win approximately 51% of trades. +- They have very high leverage. +- It’s all automated. +- They consume enormous amounts of data. + +But what exactly are they doing? I know of 3 good sources of detailed information: +1. [This Twitter thread](https://twitter.com/TrungTPhan/status/1424399014204637186) +2. [This Senate hearing document](https://www.hsgac.senate.gov/imo/media/doc/STMT%20-%20Renaissance%20(July%2022%202014)2.pdf), related to a tax dispute between RenTec and the IRS. +3. [This Quora answer](https://www.quora.com/What-are-the-investment-strategies-of-James-Simons-Renaissance-Technologies-I-understand-he-employs-complex-mathematical-models-along-with-statistical-analyses-to-predict-non-equilibrium-changes/answer/James-Baker-69?ch=15&oid=15556100&share=00bcc844&target_type=answer). This has the most technical details. + +I thought I’d put all this together in a somewhat easier form to digest. (Maybe this is all commonly known here, but it was new to me.) + +Suppose you went to the bank and asked for a loan for your investment business, whose strategy is entirely “invest in SPY”. SPY has volatility of 20% annualized, so the bank might charge you annual interest of 10%. Since SPY only does +10% on average per year, you’re left with net 0% profit on average. Bummer. + +For a margin loan like this, the interest rate is going to depend on the volatility of the instrument. Unfortunately, low volatility generally means low returns. So the only way you’ll get very low interest margin (i.e. high leverage) is to trade something that has very low returns, which sort of defeats the point. + +The light-bulb moment here is that if you can decrease volatility “further” than you decrease returns, the higher leverage via margin will compensate for the low returns. For example, suppose you crafted a basket of long and short positions in various stocks that had only a net return of +1% but an almost negligible volatility of 0.1%. On its own this isn’t very useful (it doesn’t come close to SPY’s 10% return) but that low volatility might allow you to arrange a whopping 70x margin. Suddenly you have a +70x return! + +But how to actually arrange such enormous margin? The bank is probably unwilling to hand you 700B in cash to trade with, no matter how low the volatility in your basket is. Instead you have the bank write you a hedged, cash-settled, European-style barrier option. The way it works is this: +- You tell the bank what positions go in the basket. +- The bank prices and sells you an option for some number of units of the basket at an agreed-upon strike. The bank also buys units of the basket to delta hedge. +- If, at expiration, the value of the basket has gone up the relatively small amount you predicted, you exercise and profit greatly from the leverage. The bank makes a profit too, from their delta-hedged holdings, but it’s capped at the difference between their mean buy-in price and the strike. +- If, at *any* time, the value of the basket drops below the agreed-upon barrier threshold, the option is terminated. You lose the premium you paid and the bank loses the difference between the buy-in price and the current price of the basket. + +This is what the Medallion Fund does. They consume all sorts of data sources and use a lot of mathematics and computer science to look for “tradable effects”: detectable, repeatable events that correlate to future movement of a stock, and then use those effects to produce a “reference portfolio” of long and short positions. The reference portfolio changes constantly from second-to-second as hundreds of tradable effects are fused together in real-time. They buy barrier options on the reference portfolio from Deutsche and Barclays and then stream changes to the reference portfolio back to them so they can stay hedged. (Deutsche and Barclays actually pay *RenTec* to handle the mechanics of hedging the reference portfolio for them! Talk about win-win!) + +This all works because the banks can *literally* create new money in the form of loans. (In fact, most money in the US is created by private banks.) So they can offer enormous margin in the form of options so long as they can clearly define their risk (via the barrier clause), necessary to ensure they meet government regs for holdings. + +It’s perfectly possible for any individual to find tradable effects just like RenTec does: find data (maybe weather reports), look for a relationship to future securities prices (how about agriculture company stock prices) and build a predicative model. Repeat until you find one that works. I’m no data scientist but I imagine with some effort I could find one or two of these per year. But to turn them from a +1% strategy into a +70% fund requires finding hundreds of these effects, fusing them all together into a model that predicts a reference portfolio with ultra-low volatility, establishing a relationship with investment banks and getting options written against the reference portfolio, providing real-time hedging on behalf of the banks, model those options and devise an exercising strategy, and then doing it year after year as the tradable effects and financial landscape evolves. + +As for keeping the fund at 10B and no outside money, it follows pretty logically from the high leverage. If they took on 10x the cash they’d need 10x the options and the underlying price action caused by the resulting hedging could swamp the tradable effects. They could scale themselves out of their own system. So they chose to make a limited number of people ultra-rich instead. And if you want to keep all your tradable effects and models and relationships secret, why not choose your *employees* to be those 300 people? + +That’s all I’ve been able to gather about the Medallion Fund. The details of how the reference portfolio is built, the strategies they use to find tradable effects, the tools and models they use to fuse them, and how the option strikes/dates are chosen is a mystery to me, but it doesn’t really matter in the sense that it’s not like I can replicate this in my garage. But just for knowledge sake I’d appreciate any insight anybody might have! +In the past year I've been much more serious about my finances and paying off debt primarily. I need some motivation to keep moving forward and have nobody to humbly brag too in real life. So I've paid down $13,000 in debt in the last 11 months and it feels great, I went from -$33,000 to -$20,000. 14k is my car note, ~1.5k on a credit card, and the rest is student loans. I just paid my mom the last $1000 I owed her from a car accident years ago, and she's the last person I owed money. Now it's just the feds and the bank. It feels really good to keep making progress even though it's so hard to see sometimes. Also for a little bit of perspective I'm 22 M now working to keep paying down that debt and save up to get out of moms house lol. Cheers everybody + +Edit: Wow!!!! I never expected this post to blow up like this. My first ever awards on reddit!! :) <3 thank you so much. + +Thank you everybody for all of the heartfelt comments , they're very much appreciated and I'm feeling extremely motivated to keep this train moving!!! A bit more background, I work in construction mon-sat and deliver subs on sunday. Construction is where I make the bigger money, but I oftentimes have to drive very far (2hours a day,) which is why I've allowed myself this 14k car note, as It's on a 2018 vehicle, low mileage and manual transmission. Aka very reliable. Also Made in my home country so cheap to maintain. I have been using the debt snowball method. +>**The dollar volume of homes purchased by foreigners from April 2018 through March 2019 dropped 36% from the previous year, according to the National Association of Realtors.** + +[https://www.cnbc.com/2019/07/17/foreign-purchases-of-american-homes-plunge-36percent-as-chinese-buyers-flee.html](https://www.cnbc.com/2019/07/17/foreign-purchases-of-american-homes-plunge-36percent-as-chinese-buyers-flee.html) +Hi everyone! This is my first attempt at writing my interpretation of a company. I really suck at writing so I'm using this as an exercise to improve my skillset. I chose Costco because I constantly see comments that say a majority of their revenue comes from membership fees when that's completely wrong and that really bothers me. Please let me know what I can improve on/what you enjoyed. Thank you! + +**Overview:** + +Taken directly from their 10K: Costco operates membership warehouses and ecommerce websites based on the concept that offers members low prices on a limited selection of nationally-branded and private label products. + +**Financials:** All numbers in millions. + +**Revenue:** + +||TTM|'21|'20|'19|'18| +:--|:--|:--|:--|:--|:--|:-- +|Net Sales|226,954|195,929|166,761|152,703|141,576 +|% YoY Growth|15.8%|17.5%|9.2%|7.9%|9.52% +|Membership Fees|N/A|3,877|3,541|3,352|3,142 +|% of Revenue|N/A|2.02%|2.17%|2.24%|2.27% + +Costco's revenue has had incredible growth in the past 5 years. Their membership fees have mostly stayed flat as a % of revenue and only grown about high single digit growth (7-9%) YoY. + +**Gross Margin:** + +||TTM|21|20|19|18| +:--|:--|:--|:--|:--|:--| +|Gross Profit|27,572|25,245|21,822|19817|18424| +|Gross Margin|12.1%|12.9%|13.1%|13.0%|13.0%| + +**Operating Income:** + +||TTM|21|20|19|18| +:--|:--|:--|:--|:--|:--| +|Operating Income|7,793|7,223|5,435|4,737|4,480| +|Operating Margin|3.4%|3.7%|3.3%|3.1%|3.2%| + +As we can see from the financials, Costco is very consistent when it comes to their margins. They enjoyed quite the revenue boost with the boost of stimulus during Covid and have already shown their growth is unsustainable, especially with Inflation as a headwind. + +**DCF Analysis:** + +Our inputs are simple: We will assume a 10% Growth Rate for the next 5 years declining to a risk-free rate for years 6-10. Truthfully, this is too optimistic for me given the current macro and Costco's already enormous revenue. When we look at comparable competitors such as WMT/TGT, we see revenue numbers more in line with 2-3%. I will also provide a DCF analysis more in line with those numbers. + +**Discount Rate/Wacc**- 7.81%. Costco has a very safe beta of 0.71, leading to a very low WACC, especially given the current macroenvironment. + +**Operating Income:** We will assume Costco will be able to maintain a margin of 3.4% declining to a 3.1% margin by Year 10. + +**Output:** + +|||Implied Upside/Downside- Current Share Price: 466.40| +:--|:--|:--| +|Optimistic Case Implied Share Price|319.43|-31.51%| +|Conserative Case Implied Share Price|224.19|-51.93%| + + +My analysis clearly states that Costco's fair value is significantly lower than what it's currently trading at. So what does Costco need to do to deserve it's current market cap? + +After playing around with my model, I found the easiest way would be to assume Costco will be able to maintain a 3.4% Operating Margin for years 1-10 while maintaining 10% revenue growth for Years 1-8, and most importantly assume the risk-free rate will drop to 1.2%. Hopefully after seeing how much needs to happen to achieve today's current valuation, you'll think differently about Costco. + +**Conclusion:** + +While Costco has had a terrific runup in the past 5 years (183% vs SPY's 46%), it is incredibly difficult to justify it's lofty valuation, even with an optimistic outlook. Of course, I welcome any criticism and my optimistic outlook may be considered pessimistic in your eyes. Thank you so much for taking the time to read this and I wish you all a great day! + +Also insert typical this is not financial advice, trade at your own risk, yada yada yada +The same money that was in my savings from last year. Except this year, can comfortably put half into div stocks. Lot of red, but way more green. Having my money work for me finally make sense to me, though I think I’m doing the laziest (and safest) form of long term investing. + +I’m reinvesting it all. Think I’m gonna put in 10% of my monthly check in too. May adjust over time. + +I’m excited and nervous. And I only got .56 in dividends today oh happy days. +This is embarrassing--I have watched all the videos out there to learn how "banking works". Yet I still don't understand. In all these videos: such as [https://www.youtube.com/watch?v=aJJoV0xSDqA](https://www.youtube.com/watch?v=aJJoV0xSDqA), they all seem to miss something...? + +I understand how bank creates money by taking deposit from person A, and create create deposit out of thin air and give that to person B. Then at the end, when B pays back the money, money supply has been expanded. What I don't understand is: in a closed economy, the money that B pays back has to be money he earned from someone else. So how come it is "money creation", rather than just a money transfer? + +Consider the following thought experiment i read from Mervyn King's book "End of the Alchemy": + +On an island there are two people--a fisher and a Craftsman. There is only one bank. The fisher has $100 in the bank. The craftsman has none, but he has the skill to make fishnets. In order to make fishnets, the craftsman needs $50 in capital. This $50 is needed to pay the labour to help him make fishnets. Suppose the labour is the fisher. + +At time period 1 (t=1), bank has $100 as deposit. Great. The bank then loans $50 to the craftsman, expecting him to pay back $55 (interest bearing loan). Now the money supply is $150. The account balance for the fisher is $100, and the balance of the craftsman is $50. + +At t =2, the craftsman has made the fishnet. In doing so, he had to pay the fisher $50 for his labour. With the end product of the fishnet, he sell to the fisher $60. With that income, the craftsman pays back the bank. + +Now the bank balance of the craftsman is: +$50 (loan amount)- $50 (payment to fisher) + $60 (sale price fo the net) - $55 (repayment of the loan ) = $5 + +The bank balance of the fisher is: +$100 (original deposit)+ $50 (payment from the craftsman for his labour) - $60 (payment for the fishnet) = $90 + +Bank has made a $5 profit for making the loan. + +So everything balances out: 5 + 90 + 5 = $100--which is the original amount of money in fisherman's bank account. + +&#x200B; + +But notice how at the end, the money supply has remained the same at the level of $100. Although $50 was "created" to loan to the craftsman, it was cancelled out when the fisher pays the craftsman for the fishnet. + +&#x200B; + +Did I make any mistake in this thought experiment? Or am I getting something wrong? +My grandfather worked his whole life as a farmer, acquiring as much land as possible and then leasing it out. Lived frugal and in debt his entire life to leave a huge estate for his children and died with holes in his work clothes and a estate worth $8 million from nothing. + +In the will, there's a clause that his children are unable to sell the land, only lease it. My mother fought it because she wanted the capital ($500k was her share at the time) to build a giant suburban mcmansion and vacation. Instead, she had to lease it for 20k passive income a year, and now her share is worth $1 million, half of which is going to me. + +He also set up college funds for all 10 grandchildren, bought them all their first cars ($3k shitboxes but still) and taught me how to shoot a gun and gave me his in his will. + +Truly a great man who cared for his family. I miss him every day. +Hey all, I figured I’ll finally share my retirement story here now that today is my first day. + +The history- I’m mostly a career underachiever. I worked in retail banking and human resources and hated it. I was lazy and mad at the world for not handing me success for work I never did. At 30, I had like $600 and no signs of potential. I had a community college degree and a bachelor's from a for-profit school that no longer existed. Great. And If my mom didn’t pass away a few years prior, I would have finished school to be a teacher, but life happens. I needed to drop out and stick it out in an unfulfilling career. + +I saw my opportunity. This thought influenced me- Not owning your life and spending all your waking hours doing something you don’t like is an awful way to live. Especially when you’re broke too. + +I wanted to marry my passion for fitness with work and decided to open a small CrossFit gym in my garage and train people after work. This was the easiest way to get into the field after considering buying a box truck and training people in their driveway lol. Thinking of the mantra “if you build it, they will come,” I knew I could get my weekend certification, buy a bunch of equipment on a cc, and be cool. But that’s not what happened. I did almost no work in building out my processes, culture, systems, etc., and no one cared to be a member. In a year, I had about 20 people total workout in my garage, 3-5 regulars—a mere few hundred dollars in monthly revenue. + +Presented with an opportunity, I could renew my CF affiliation (on credit) or let it drop and pivot. So, I thought about my skills (talking online and knowing about food/decision making), how to do this around my work schedule (9-5), and how I could still help people and make a career. + +Instead of training, I wanted to remotely manage people's diets (lifestyles). Partly because the industry is an absolute nonsensical shit show of misinformation. But I didn’t want to tell people what to eat, when to eat, what to avoid, etc., because as weird as that sounds, specific food choice, meal timing, and restriction are hardly what matters (people still argue with me about this, mainly because they make money saying the opposite or are influenced aka manipulated by another doctor turned book salesman and social media influencer. As you can see, I’m super-jaded by the field). + +I wanted to be more of a food detective. Crack the case and use a Socratic problem-solving method (guiding people to the answer through a series of questions). + +I asked myself what problems people face and what systems I could plug in to address those problems. + +Things like -people eating more than they realize, they don’t plan, feeling guilt and shame, they lie about it, it being lonely, there being no data, there’s no fun, there’s no community, there’s too much conflicting info, not knowing if it will work, crappy coaches/RD’s, and more. + +So, I started talking about my philosophy online, who were mostly people I knew in real life (big hint for anyone thinking all they have to do is post IG reels for clients). Some thought I was unqualified, a pos, annoying, not fit enough, etc. It hurt my feelings, and I almost didn’t go through with it. But I said f it. Imagine these voices preventing me from doing something awesome and helping people, is what I said. Luckily I had a few people trust me. + +These early folks got results, I would share them, encourage them to share their stories, I would take people shopping, do seminars, work with entire gyms, offices, and neighborhoods, and learn from the evidence-based community to stay up to date. I built a company many would joke was a food cult, and I embraced it. It wasn’t just weight loss or performance, though. People now knew their way around food like never before. I knew we had something special. + +I painted a picture. One that showed lifelong dieting failures, athletes, moms, dads, etc., could all succeed on my program, and it not suck the life out of them. I also gave free information everywhere and built my reputation as a CEO/coach who knew all the inner workings of our clients' struggles, the industry, business, and everything. + +After 13 months of doing this online (making more per month than my yearly salary) and working FT, I had to leap. Now, around 33, I jumped. + +Then things got wild. In a matter of a few weeks, I needed to hire more coaches. Soon after, we added RD’s to expand our offering to more people (think pregnancy nutrition) and got my best friend to quit his job and be my COO. + +Within a few years, we’d be on the Inc 5000 list and have a team of almost 100. We had no paid marketing either. We maintained world-class NPS scores while blitzing-scaling a service-based business. I can’t believe we didn’t mess it up. + +All our growth was from facilitating the image of two things and being relentless with it. 1- You’re missing out if you’re not here improving and having fun with us, and 2- there’s no better place to work in the industry. + +Doing that created what the company would become. Essentially a marketplace that matched people who needed help with those who could help. Being the CEO in it with my team and customers built that brand loyalty that made everyone mention us when someone asked how to lose weight, get healthier, or perform better. Then I would see it, pop in, and thank them even if it was Saturday night. That’s how connected I had to be. Or at least that’s what I tell myself. + +I sold in 2020 for 8 figures (sorry I won’t say the amount), stayed on for about 18 months, and today is my first day of retirement. I never thought I would be in this position, but a few good moves, luck, and support made it happen. + +Along the way, I saved because I always thought this could blow up. I never intended to sell, but having a kid, locking in the success, and projecting ahead made me realize it was the best option. I could have lean-fired early on, but selling made life a little less stressful. Being that this is FF, I think you’ll understand. + +I could have cruised along getting paid and stayed on as founder, but I wanted my headspace back. Thinking of this stuff all day is draining. + +This is a super condensed version of a cool-to-me story. I’m happy to answer questions, please ask. And if I can attribute this success to anything, it would have been my attention to my customers. I knew who they were, where they were, and what they wanted. I didn’t have projections, plans, or any typical business systems. I was good at reacting to feedback and was probably high off the growth, member stories, and job creation. This was my hobby until I fell out of love with it. + +Now, I’m going to just chill with my fam, dabble in little passion projects, and have good conversations. I still enjoy the fitness industry, I just don't want a job anymore. +If every country went capitalist, is it possible for every nation on earth to be wealthy and the vast majority be in the middle class, be able to afford homes, car, outings, etc. or is the way economics are there must be inequality, unequal exchange, etc? could every nation be modern, could every nation enjoy the living standards of denmark? i dont want emotional input, just the raw truth. +[https://www.cnbc.com/2020/10/05/stock-market-futures-open-to-close-news.html](https://www.cnbc.com/2020/10/05/stock-market-futures-open-to-close-news.html) + +Very stable genius, good for the market, smart businessman, etc. etc., +Just saw this on twitter and found the source --- huge news! + +This probably will lead more banks to do the same. + +**Rein in those shorties !!!** + +**"** + +**Investment Banking Company Jefferies suspends short sells on $GME and another 2 stocks!** + +Jefferies said to block short sells in GME, and another 2 stocks from being executed. + +From a trader: + +"In addition to naked options, effective immediately, we will be blocking all short sells from being executed at Jefferies. If you choose to execute away, the trade will be subject to review by Risk/Margin prior to being affirmed." + +" + +Original tweet: [https://twitter.com/Joshuajammes/status/1400471689549520901](https://twitter.com/Joshuajammes/status/1400471689549520901) + +&#x200B; + +(**cant post the original news link because the link mentions the movie stock and gets blocked by the bot - you easily find it on google - the news source is** [https://www.streetinsider.com/](https://www.streetinsider.com/) . Just copy paste the trader quotation to google) + +EDIT 3: + +2 Apes have accused this post of being FUD because there was no link or formal announcement from the bank. **There are now articles confirming this by** **Bloomberg**, **Benzinga. Seeking Alpha is also quoting it.** According to Bloomberg the Bank has announced this to its clients today. + +We cannot expect the Bank to send out a public statement about this, cmon... hush hush please, let's not expect them to tell the entire planet that the short squeeze is coming. (irony much) + +&#x200B; + +**Important note**: while the original news story only quoted an anonymous trader that works at the Bank, the story by Bloomberg states that **Bloomberg has seen the Memo that was sent to clients** with this information. + +\--------------------------------- + +Edit 1: I wrote naked shorts on the title but I meant naked options as in the quote. + +\--------------------------------- + +Edit 2: + +Jefferies is an Investment Bank that allows corporate clients (hedgies and the like) to invest through Jefferies. According to their website, their clients are **corporate and financial sponsor clients.** + +" + +Jefferies Investment Banking is a global leader, offering deep sector expertise and broad advisory and capital markets capabilities **to corporate and financial sponsor clients**. With approximately 900 investment banking professionals across the Americas, Europe and Asia, we provide global coverage across all products and sectors. + +&#x200B; + +Also as pointed out by [Public-Ad6926](https://www.reddit.com/user/Public-Ad6926/): + +it appears Jefferies has been targeted by short-sellers back in 2011. See link here: + +[https://www.gurufocus.com/news/153760/jefferies-ceo-issues-letter-saying-shortsellers-spreading-malicious-lies-about-company](https://www.gurufocus.com/news/153760/jefferies-ceo-issues-letter-saying-shortsellers-spreading-malicious-lies-about-company) + +Karma is a BITCH. + +&#x200B; + +**TA;DR: Jeffries does NOT want to be the one holding a colossal bag of** 💩 **when the short squeeze starts, so it just announced: if you want to SHORT GME - GO SOMEWHERE ELSE.** + +&#x200B; + +\--------------------------------- + +Edit 4: DFV posted a song about "**JEFFREY**" 15 minutes ago. Not sure if he reads this, but if he does let me just say: you're The Absolute Legend. No "hero-worshipping", just fully acknowledging and appreciating the GOAT. + +[https://twitter.com/TheRoaringKitty/status/1400522985375780872](https://twitter.com/TheRoaringKitty/status/1400522985375780872) + +&#x200B; + +\--------------------------------- + +Edit 5: This news story is now up on Zero Hedge, as well as **Yahoo Finance**. Finally, a link that is not blocked: + +[https://finance.yahoo.com/news/jefferies-blocks-short-sells-gamestop-174600093.html](https://finance.yahoo.com/news/jefferies-blocks-short-sells-gamestop-174600093.html) + +&#x200B; + +\--------------------------------- + +TADR2: To the apes asking why this is important - this Risk management stance is important because it: + +\- sets a precedent that may (will) be followed by other industry players, thus reducing the amount of avenues for shorting GME. According to Seeking Alpha, there is already a second bank following this idea (Raymond James but it seems they only announced no shorting for the movie stock). + +\- confirms the ape's thesis that shorting GME is a very very high-risk play, so much that it's not accepted by certain banking institutions, because guess what ----------- the Tendie man cometh. + +\--------------------------------- + +Edit 6: + +Ape [jaypeepeeee](https://www.reddit.com/user/jaypeepeeee/) linking everyone to a post that found Jefferies was **the broker who was responsible for GME's share offerings.** + +[https://www.reddit.com/r/Superstonk/comments/nrm8va/was\_reading\_the\_gamestop\_10k\_from\_march\_and\_i/?utm\_source=share&utm\_medium=ios\_app&utm\_name=iossmf](https://www.reddit.com/r/Superstonk/comments/nrm8va/was_reading_the_gamestop_10k_from_march_and_i/?utm_source=share&utm_medium=ios_app&utm_name=iossmf) + +&#x200B; + +\--------------------------------- + +Edit 7: + +24 hours have passed since my post, and the expected reality is materializing. Other banks did not waste more time and are also placing restrictions against shorting GME and other ultra-shorted stocks - this time Goldman Sachs Group Inc., Bank of America Corp., Citigroup Inc. + +[https://www.bloomberg.com/news/articles/2021-06-04/wall-street-banks-rein-in-hedge-funds-short-bets-on-meme-stocks](https://www.bloomberg.com/news/articles/2021-06-04/wall-street-banks-rein-in-hedge-funds-short-bets-on-meme-stocks) + +**Please remember that this doesn't mean the shorting, or the naked shorting, will stop. It just means that, officially, it will be more difficult, there will be less avenues for it. This may also be used to give longs a false sense of victory.** + +**Nothing has changed. MOASS OR RICE NOODLES** + +Can apes dream of a future without naked shorting and all kinds of fuckery? Maybe not yet, but perhaps it may be moving in the right direction. + +Now... **rein in those wild shorters please, they've already pissed all over the market.** + +&#x200B; + +&#x200B; + +https://preview.redd.it/x0x6r56uwi371.png?width=640&format=png&auto=webp&s=cdd9ce444e0e21bb7eba962a667ba5712af0982c +>On Jan. 11, the Reserve Bank of India (RBI) said, “the disconnect” between how the economy is fairing and how the stock markets are performing has accentuated in recent times and now “pose risks to financial stability” of the country. The observation was part of the RBI’s annual financial stability report + +https://qz.com/india/1955901/rbi-says-sensex-nifty-rally-amid-poor-economy-could-be-risky/ +Previous thread here: [https://www.reddit.com/r/wallstreetbets/comments/la5s8i/gme\_discussion\_thread\_for\_february\_01\_2021\_part\_2/](https://www.reddit.com/r/wallstreetbets/comments/la5s8i/gme_discussion_thread_for_february_01_2021_part_2/) +This is getting absolutely ridiculous. It's to the point where even the best memes are fucking annoying. This sub has become a cesspool of shit jokes, lambos and questions on how to buy ETH. The vast majority of people here don't even know what ETH does but jump on the meme boat because they feel that's the only way they can contribute. Then when someone posts their own TA, it gets massively shit on. + +This needs to change before this sub gets so out of control that censorship starts happening and soon there's two major Eth subs and a divide in the community. + +Please, read the infinite amounts of tutorials/explanations littered throughout google an even this subreddit. Please stop shoving memes down everyone's throats that just want to read the latest news and not have to scroll down 5 pages to see it. +Earlier in the week my assistant noticed a slight jump in their tax withholdings, and mentioned they were having problems buying food / had a maxed out cc. I offered to sit down with them and explore ways to do more with less but they havent taken me up on it. Here its several days later and I’m still worrying about them and their untenable finances. Does anyone else have a coworker like this, or have you successfully improved their finances (excluding a wage, out of my control). + +Edit: I’m resolved never to bring it up again, and to only point them to some helpful books if they ask. For everyone who keeps saying ‘pay your slave more’, I don’t have control over that, and suggesting they get a different job is counter my employer goals. +Snippet here: https://twitter.com/_BenWright_/status/1485205178995380229/photo/1 + +Full article here: https://www.thetimes.co.uk/article/89d97ec4-7b8b-11ec-b61a-0b3711477c9d?shareToken=3014d284ee6cf9c65ac13ce531e1e84d + +Just LOL. Huuuuge red flag for me lmaoooooooo +Edit 12/27/21: After learning how big of a scam Tether is, I am going to say my theory has been debunked and my apologies for jacking any tits. Those who called out Tether from the beginning, you were right, and I should have done more homework into what you were saying but I was blinded by confirmation bias. + +~~Edit 8/9/21: Looks like there was a transaction for $30k today which while it doesn't totally disprove the theory it does take some wind out of the sails. I'm still hopeful that this turns out to be something, but it's looking less likely with this recent transfer.~~ + + +~~Ethereum address: [https://etherscan.io/address/0x664638c364299bbd343d07d7ad0c89df7a339198](https://etherscan.io/address/0x664638c364299bbd343d07d7ad0c89df7a339198#tokentxns).~~ + +~~Here are my previous two threads following the address:~~ + +~~First: https://www.reddit.com/r/Superstonk/comments/otdhum/the_ethereum_address_ive_been_following_with_the/ +Second: https://www.reddit.com/r/Superstonk/comments/ow880o/10k_more_just_transferred_through_the_ethereum/~~ + +~~First off, I know the first thing people are going to say is, "but the second post debunked". Ok, how? I've yet to see anything debunking my hypothesis and no explanation why the post was marked as such. If any mods want to chime in, I'm all ears.~~ + +~~Second, before people start screaming scam because this is an address they aren't familiar with yet, please realize there are no new co1ns associated with this address that anybody could even scam with and my hypothesis is that this is simply acting as some kind of wallet were the funds to back each share is being passed through. I don't know how they are using the money, but the total amount that has now passed through the wallet is enough to represent all the outstanding shares at a value of $0.001 each, $77,785.146902 in total and I've been told there are [76.9mil shares](https://www.reddit.com/r/Superstonk/comments/ow880o/10k_more_just_transferred_through_the_ethereum/h7fiq5q/?context=3)(thank you /u/catsinbranches). So enough to represent all the shares plus some, maybe the excess is for gas fees, I'm not sure but this latest transaction has my tits jacked. +~~ +~~Third, how is this address related to the original 0x1337 address? Check out the the Loopring: Exchange v2 transaction for 19 in the list: https://etherscan.io/tx/0xc5955675b307f711370bc175dd2f9b270e16c6c03c2e14d1bba7a357903afbe8#internal. If you go into it's 'Internal Txns' the *to* address [0x850aa0b86B8aa76b95CeF283bCb2E7c008C7202b](https://etherscan.io/address/0x850aa0b86B8aa76b95CeF283bCb2E7c008C7202b) is one of the 3 owners of the 0x1337 address on the nft.gamestop.com site, which I will show below.~~ + +~~This is the transaction that added 0x850aa0b86B8aa76b95CeF283bCb2E7c008C7202b as an owner of the 0x1337 address: https://etherscan.io/tx/0x75d86673e6763e60d6e4c0e4b8577c861fb9b9b0e89563890cd276883f169ca3#eventlog.~~ + +~~As stated in my previous thread, this is still speculative, but each transaction has only proved the hypothesis to potentially be true. And if any mods decide to debunk this thread, please state why, as there was no such courtesy on my previous thread and is unjust IMO.~~ + +Transactions: + +|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| + +~~Thanks to u/m4ttyn1ce, /u/968Driver, /u/civil1, /u/Jagsfreak, and /u/moronthisatnine for all being on top of the address and giving me a heads up of the latest transfer! Tits jacked! +~~ +~~edit: I just noticed that the total amount passed through is $77.7, triple 7s. I'm feeling lucky, how about you Ken? +edit 2: [This comment](https://www.reddit.com/r/Superstonk/comments/oyv5q1/199k_transferred_through_the_ethereum_address/?) by u/runecr4fter relating to the triple 7s just got me even more jacked! https://twitter.com/0xfoobar/status/1423001524343508996 +edit 3: u/m4ttyn1ce pointed out [here](https://reddit.com/r/Superstonk/comments/oyv5q1/_/h7xihqb/?context=1) that the final transaction was at 4:20pm Central time, which is GameStop HQ's time zone~~ +Sure, I get it, there's always that someone who lived in the same house for decades and never spent a dime. But in the real world, especially those of us with families. Can we agree the lifestyle creep in inevitable? Your kid is in band and would move up to the next level and get "leadership" with private tutoring. Your care is exhausted and you buy a Tesla (performance, but you de-badge it). Flowers for your wife, because... well, no reason. You justify more coffee that you buy rather than the swill that they're handing out for free at work. + +I hear it all the time: "Don't get caught up in lifestyle creep". But we all do it. Or? No? +I was reminded of the old New Yorker cartoon with the above caption over the last few days as I first read the "let's introduce ourselves" thread and then the "let's talk about how much crypto we hold in our HNW portfolios" thread (answer, apparently not much, unless you got to be HNW through crypto). What I found was that a lot of people in this forum are in their 20s and not HNW currently and a lot of people have a zealous, and perhaps almost messianic belief in the power of crypto (what one might have called "irrational exuberance" in a more cynical age). + +So what's the purpose of this semi-rant? Just to remind everyone that while the purpose of this forum is to discuss Fat Fire, there are a lot of people here who are neither FI nor RE currently, so take everything here with a grain of salt, particularly the opinions of those flogging new and exciting asset classes with exponential growth opportunities. + +Having lived through the inflation of the '70s, the crash of '87, the Internet bubble of the late '90s/early 2000s, the subprime crisis of the mid 2000s, three wars, a couple of oil booms and busts and about four stock crashes, large and small, I just have to say there are no asset classes which can resist the forces of gravity forever, there are no industries which will always be there and your best chance at financial success/FIRE is keeping up your skills, your professional networks and owning your own business/having a professional degree. And, if you're investing, you're going to learn more from r/bogleheads than you will here. + +Rant over. Now get off my lawn. +Hi all. I've been fatfire since 2013, and I've been thinking of purchasing what most people would call a "mansion". Or having it built, I am not sure. It would be out in the sticks so it wouldn't be much more than I paid for my current residence. I'm sure you're all aware of the massive price discrepancies between city and country. + +To get to the point, I figured this would be the place to ask why people generally leave those houses. Why they end up selling them. I've been doing the usual youtube research, watching a great many videos. And I've noticed a theme: A large portion of the families that buy those very large houses, (15k - 20k sq ft) don't live there very long. + +A significant portion of them live there for a 1-3 years. Even after waiting years for the thing to be built. The videos typically show off the house, they don't go into the personal details of the previous owners. So I thought that someone around here might be familiar with this kind of thing. If not, I'd appreciate anyone who can point me in the right direction. + +Maybe the cause is the expensive upkeep? Although if you could afford one in the first place, I doubt upkeep of the house would be much of a problem for you. Perhaps it's divorce? Maybe people decide that they simply don't need it? +&#x200B; + +# 0. Preface + +I am not a financial advisor. I do not provide financial advice. Many thoughts here are my opinion, and others can be speculative. + +I'm personally happy to see that there is a shift from GME DD to macro-economics DD. Because it provides a much wider insight into how the market is behaving, and how GME would **NOT** be the cause of a market crash. Everything has been a pressure cooker over the past decade, ready to burst, and the new DD provides insight on when things might go down. + +The new DD also diverges from the expectations of things to shoot up in price every week, where everyone is watching T+21/T+35/Net Capital cycles. It gives a general "MOASS will most likely occur when everything falls due to liquidation of defaulting Banks / Hedge Funds / Financial Institutions". + +It gives me peace of mind, because I do not watch for specific dates around GME to cause the surge. I watch the economy at the macro scale to understand when things could blow. + +**And to any skeptics - yes, it is possible that GME could never blow up. Do I think it will blow up? Sure I do. But I encourage YOU to read this post, disregarding GME, and to instead understand what is going on with the economy on the macro scale.** + +**Even if the GME play is wrong in your eyes, it is good to understand how the economy could crash harder than it did in 2008. I don't care if you don't believe in GME. I care about you, and don't want YOU to be hurt.** + +[Me IRL - Maybe - Sometime](https://preview.redd.it/pscahu4lxk671.png?width=727&format=png&auto=webp&s=2e5ee31eaef0413023a8cc4be07087210081554c) + +# 1. Before We Begin: An Overview of Repo And Reverse Repo + +Repo and Reverse Repo might be a bit confusing. You probably saw on this subreddit or in news that the reverse repo market has been blowing up, and it's a bit concerning. + +It's not too complicated if you just imagine it between two entities: the Federal Reserve and Banks. + +For both Repo and Reverse Repo, it is an agreement between two parties for one of them to sell some security for a price, and they agree to buy that security back at a later date at a higher price based on some interest rate (usually). This is called a "Repurchase Agreement", where "Repo" is a standard "Repurchase Agreement" and the "Reverse Repo" is a "Reverse Repurchase Agreement", the inverse of a "Repo". + +The length of these Repurchase Agreements can be various lengths. Such as overnight, one month, three month, etc.. But what we're seeing is **short-term** **overnight Reverse Repos**. The parties swap, and then the next trading day they swap back. **It is not a permanent extraction of the underlying security. It is an overnight swap. A permanent extraction comes from Quantitative Easing or Quantitative Tightening, both of which I will discuss later.** + +* **Repo (Repurchase Agreement)** \- This is where the bank swaps collateral (such as US Treasuries) for cash. This is used when the banks have too much collateral and not enough cash, or when the banks want to generate profit off of giving loans to other parties in the repo market. +* **Reverse Repo (Reverse Repurchase Agreement)** \- This is where the bank swaps cash (liquidity) for collateral (such as US Treasuries). This is used when the banks have too much cash (liquidity) and not enough collateral. The main reason behind this behavior is to pump balance sheets for the night. + +Below is a diagram I made which might make this more clear. It is between the Fed (left) and Banks (right): + +**Edit: I have a typo here. QT and QE should be flipped in the diagram. QT is permanent extraction of liquidity. QE is permanent extraction of collateral.** + +[Repo and QT Versus Reverse Repo and QE](https://preview.redd.it/ukum83cf2k671.png?width=1920&format=png&auto=webp&s=99d4c612df82013aed06ff2b22621500a80071cf) + +&#x200B; + +# 2. Quantitative Easing Can-Kick of 2008, Slowly Draining Collateral From The Market + +Note: If you want an overview of what led to the 2008 crash, check out [my previous post](https://www.reddit.com/r/Superstonk/comments/o0scoy/the_bigger_short_how_2008_is_repeating_at_a_much/) which has a summary of the documentary "Inside Job (2010)". It also describes where we're probably headed based on SLR, the DTC, ICC, OCC, NSCC rules, and mortgage default protections expiring June 30th, 2021. + +Zoom back in time to 2008. The economy took a massive dump due to Wall Street's abuse of derivatives and leverage. They created a bunch of toxic CDOs mostly consisting of [subprime Mortgages](https://www.investopedia.com/terms/s/subprimeloan.asp) to create an economic apocalyptic scenario around Mortgage Backed Securities (MBS). Everything was overleveraged and was a massive balloon of bets based on the performance of the MBS's. + +Currently, there's evidence of Wall Street doing the same abuse of toxic CDO's but this time with Commercial Mortgage-Backed Securities (CMBS). \[See above linked post for this detail\] + +The economy was hurting pretty bad from the 2008 crash, and it was going to continue going into a complete death spiral until the Federal Reserve (Fed) introduced Quantitative Easing (QE): + +>The Fed announced QE1 on November 25, 2008. Fed Chairman Ben Bernanke announced an aggressive attack on the financial crisis of 2008. **The Fed began buying $500 billion in mortgage-backed securities and $100 billion in other debt**. QE supported the housing market that the subprime mortgage crisis had devastated. - [Source](https://www.thebalance.com/what-is-qe1-3305530) + +If you're still scratching your head on what QE is, here's the Wikipedia overview definition, as well as (hopefully) a more simplified definition. + +[Quantitative Easing](https://en.wikipedia.org/wiki/Quantitative_easing) (QE) - is a monetary policy whereby a central bank purchases at scale government bonds or other financial assets in order to inject money into the economy to expand economic activity. + +* This is what the Fed will do to extract collateral (including US Treasuries) from the economy in order to push in liquidity. The Fed started doing this in 2008 to extract toxic collateral from the market and encourage economic growth because it allowed more cash flow in the economy. +* This pulls out collateral from the economy, and pushes cash (liquidity) in. +* **It was a ticking timebomb ever since it started, because it extracts collateral from the market, slowly creating a collateral shortage issue.** + +Check out the effects of QE on the Dow Jones Industrial Average ($DJI): + +[DJI Before And After Quantitative Easing Begins](https://preview.redd.it/cktjwttu8k671.png?width=1528&format=png&auto=webp&s=4e23f2e54e6204d8c56323d7e6bc8772c1a02535) + +It was helping the economy reverse the death spiral, and it has been pumping the economy ever since the introduction of QE. The problem is, of course, that collateral would continue to be sucked out of the market through the mechanics of QE. + +**And QE can't continue forever**, because collateral is a fundamental part of the repo market which allows cash to flow in the economy. When you don't have collateral, you can't post the collateral in the market for cash from banks, and thus the flow of cash basically shuts down. You cannot perform a normal repo transaction between a Bank / Hedge Fund / Financial Institution. + +The Fed tried to stop QE after a while. Instead of pulling collateral out of the economy, they needed to try to push collateral back into the economy. In order to stop QE, they tried what was, in essence, the "reverse" of QE called Quantitative Tightening (QT). + +[Quantitative Tightening](https://en.wikipedia.org/wiki/Quantitative_tightening) (QT) - (or quantitative hardening) is a contractionary monetary policy applied by a central bank to decrease the amount of liquidity within the economy. The policy is the **reverse of** **quantitative easing** **(QE)**, aimed to increase money supply in order to "stimulate" the economy. + +* This is what the Fed will do to extract liquidity from the economy in order to push in collateral. It is used to attempt to reverse the effects of QE, to try to regain balance in the economy. +* This pulls out cash (liquidity) from the economy, and pushes collateral in. +* **The Fed attempted QT in 2018, but it proved to have very bad consequences on the economy. So, they went back to QE in 2019, continuing to can-kick the effects of the 2008 crash.** + +This is a chart showing the Fed's "Total Assets", where collateral is an asset for the Fed. So when collateral was extracted from the economy through QE, it went onto their "Assets" side of their balance sheet. When collateral was pushed back into the economy through QT, it was extracted from their "Assets" side of their balance sheet. + +1. At the start of QE in 2008, there is a surge of assets due to the buying up of MBS's and treasuries. +2. Around 2018 the assets began to decline because the Fed attempted QT by pushing collateral back into the economy and sucking liquidity out. +3. Around September 2019 the assets began to increase again because the Fed went back to QE after realizing the negative effects it was having on the economy due to causing a liquidity shortage. + +So... what happened in September of 2019? **Why did QT fail after a decade of QE**? + +[https:\/\/www.federalreserve.gov\/monetarypolicy\/bst\_recenttrends.htm](https://preview.redd.it/x6pfomz2ck671.png?width=893&format=png&auto=webp&s=1c667c5cc3dbc94de50944208f107aac1dd72d73) + +# + +# 3. Quantitative Easing Cannot Be Reversed. The Can-Kick Continues Until The Economy Crashes + +Despite pumping in a bunch of liquidity into the market through QE, the economy was **still lacking liquidity**. When the Fed started to reverse QE through QT, the liquidity in the market tightened and thus the negative effects on the economy began to surface in September of 2019. + +[https:\/\/blog.pimco.com\/en\/2019\/09\/repo-rate-spike-a-tail-of-low-liquidity](https://preview.redd.it/9sd32gdxdk671.png?width=630&format=png&auto=webp&s=0ee9d749419bc2b6c0a84682f6f9b0b886ceca93) + +**Less than a year after starting QT**, a liquidity crisis emerged on September 15th, 2019, when the repo rate spiked up severely. This was a clash of events surrounding the lower liquidity issue. + +>Banks’ “reporting” dates are known inflection points in the short-term funding markets and typically fall at the end of the month, quarter, and of course the year. **But periodically, the 15th of the month is also a pressure point**. Such was the case this past Monday when a short-term funding rate that had been hovering around 2.21% soared as high as 10%. +> +>The funding market succumbed to a trifecta of pressures: + +1. Payments on corporate taxes were due on 15 September, leading to high redemptions of more than $35 billion in money market funds. +2. Cash balances increased by an additional $83 billion in the U.S. Treasury general account, which reduces excess reserves and simultaneously acts to reduce the aggregate supply of overnight liquidity available in funding markets. +3. Dealers needed an additional $20 billion in funding to finance the settlement of recent scheduled U.S. Treasury issuance. + +>... +> +>... +> +>On September 15, **as so many institutions needed funding**, **repo rates climbed well above the fed funds upper-end target at the time of 2.25% to briefly touch 5%.** **The following day, cash repo markets traded as high as 10% for those looking to finance agency mortgage positions overnight**. **Later that morning, the Federal Reserve Bank of New York acknowledged the pressures and conducted its first Open Market Operation (OMO) in more than a decade to add reserves to the funding markets that were clearly in need of the liquidity**. Subsequently, after its meeting Wednesday, the Federal Open Market Committee (FOMC) announced a cut in the interest on excess reserves (IOER) of 0.30% – five basis points more than its cut in the fed funds rate – providing some relief to the upper bound of money-market yields.  - [Source](https://blog.pimco.com/en/2019/09/repo-rate-spike-a-tail-of-low-liquidity) + +Due to the reduced liquidity from QT, because it sucks out liquidity and pushes in collateral, the markets hit a critical point where there was too much cash that was needed and not enough to supply those who needed the cash. There was huge amounts of strain on the economy. + +This was most likely due to continued large leverage + derivatives abuse stemming from what led to the 2000-2007 Housing Market Bubble. The Fed realized that QT could not continue because of the liquidity shortage that was arising. **They had to stop QT and continue QE in order to continue to pull out collateral and pump in liquidity. And thus, the collateral shortage time bomb continued ticking.** + +Below is the figure of when the repo rate shot up to \~10% within a day. This was awful, because it was much more expensive for loans to go out. The repo market would have shut down from nobody wanting to spend 10% on a repurchase agreement to get cash for the day. How would ANYONE get 10% return **overnight** to pay for these loans? The flow of cash was about to halt. + +[https:\/\/www.federalreserve.gov\/econres\/notes\/feds-notes\/what-happened-in-money-markets-in-september-2019-20200227.htm](https://preview.redd.it/86p3getwwj671.png?width=771&format=png&auto=webp&s=2a503c9055d655f80557da8bf46744c205f60011) + +# + +# 4. COVID Initiated A Liquidity Crisis In The Banks, Which Now Fights With The Collateral Shortage + +QE continued on until 2020, when suddenly, COVID came in. Nobody expected it. + +And boy, **oh boy**, did COVID wreak havoc on the economy and the financial world. While the Fed was slowly approaching a collateral crisis through QE, COVID exacerbated the issue due to the sudden impact it had on liquidity. COVID increased liquidity, and when you have a sudden surge of liquidity, you need to balance it with collateral. The economic balance was tipping as of March of 2020. + +This does not even take into account the effects of many people losing their jobs, being unable to pay rent/mortgages, and other issues that arose from COVID. Those all apply to another ticking time bomb: the CMBS issue, equivalent to the MBS bubble of 2000-2007, which I discussed in my other post. + +The COVID pandemic caused a surge of money being printed from stimulus packages in the US. When you print a bunch of money into the economy on a whim, you risk driving inflation of the currency itself. What does inflation encourage? Less spending from companies, due to the higher price. This leads to less loaning of cash in the repo market, and banks obtaining an ever-surplus of cash. + +COVID caused a sudden surge of trillions of dollars worth that the economy couldn't handle naturally. Compare the treasury balance versus the deposits over time, and the surge that occurred in 2020 in response to the pandemic. The COVID stimulus bills pumped in a **massive** amount of money into the economy at the risk of inflation. And we're already seeing the effects of inflation occur on the [supply chain](https://www.businessinsider.com/why-supply-shortages-economy-inventory-chips-lumber-cars-toilet-paper-2021-5): + +[https:\/\/www.federalreserve.gov\/monetarypolicy\/bst\_recenttrends.htm](https://preview.redd.it/amwahlvykk671.png?width=877&format=png&auto=webp&s=1e343c265451a1b2d6754a4d04971bb445e58f43) + +Stimulus checks were sent out to retail. Companies were bailed out. Unemployment increased, resulting in more unemployment benefits going out due to the relief bills. More money printed. More money deposited at banks. + +There was a ton of cash (liquidity) being pumped into the economy over the past year from March 2020 to June 2021. Because of this, due to inflation and an excess of cash, banks began to get a surplus of cash deposited. People had more cash. They didn't need to spend money on rent/mortages. Companies didn't want to spend more due to fears of inflation. So, bank deposits went up. + +**The main problem with this is that the cash deposited with the banks became a liability on their balance sheets. When you have a surplus of liabilities on your balance sheet, you need to 'balance' it out with assets, such as US Treasuries.** + +The banks were now in trouble because they had way, way too many deposits. They were at risk of defaulting due to their SLR requirements. Here is a figure showing how deposits (liabilities) of banks increased over time. It mushroomed during the COVID pandemic: + +[https:\/\/www.ft.com\/content\/a5e165f7-a524-4b5b-9939-de689b6a1687](https://preview.redd.it/6dm07sa3oj671.png?width=891&format=png&auto=webp&s=9acce6ceb03841c64828198eefff21eb06b1e310) + +To combat this issue, the Fed decided to introduce a relief program for banks regarding SLR because of the massive increase of liquidity due to the uppercut that COVID created on the financial world. + +>The supplementary leverage ratio (**SLR**) is the US implementation of the Basel III Tier 1 leverage ratio, **with which banks calculate the amount of common equity capital they must hold relative to their total leverage exposure**. Large US banks must hold 3%. Top-tier bank holding companies must also hold an extra 2% buffer, for a total of 5%. The SLR, which does not distinguish between assets based on risk, is conceived as a backstop to risk-weighted capital requirements. - [Source](https://www.risk.net/definition/supplementary-leverage-ratio-slr) + +In more of a simplified summary, SLR is a requirement of total equity that a bank must hold compared to their total leverage exposure. If they are exposed to leverage, they need to hold enough capital for that position otherwise they are at risk of defaulting. In this case, they only need to hold a measly 3%-5%, dependent on how large of a bank they are. Just like in 2008 - these banks can have massive leverage and SLR is to "help protect the economy" from them abusing leverage. + +But hey, the Fed put in place some protections for the year to help these banks since they were obviously overleveraged to begin with. These protections expired on March 31st, 2021. + +[https:\/\/www.fool.com\/investing\/2021\/03\/29\/the-fed-is-ending-one-of-its-pandemic-relief-progr\/](https://preview.redd.it/14pa4yngtj671.png?width=1433&format=png&auto=webp&s=534726bcf83b0bf40ede7b196191d66c29094d6e) + +>**The Fed's relief program last year allowed banks to exclude U.S. Treasuries and central bank reserves from the SLR calculation**. The relief program was a response to the many non-banking institutions selling Treasuries to raise cash, and coincided with other measures, including the $2.2 trillion CARES Act, which resulted in even more Treasuries being sold into the market. - [Source](https://www.fool.com/investing/2021/03/29/the-fed-is-ending-one-of-its-pandemic-relief-progr/) + +**Right after the expiration of the protection plans of SLR, the Reverse Repo market began to blow up because the banks had way too much liquidity and not enough treasuries on their balance sheets.** + +The argument that the banks were "parking their money at the Fed" was a reasonable explanation at first. Though, with 0% ROI from the RRP at the time, the banks would literally get no return on their investments. So for that argument, all of their other investments would have had to yield negative in order for RRP to be more enticing. Does this make sense to you that they'd use 0% RRP to be an 'investment'? + +The fact that the RRP began to ramp up and then explode after the SLR protections lifted makes this look like a collateral shortage issue. And of course, with QE occurring over the past decade, makes it more likely, because collateral was sucked out of the economy and onto the Fed's balance sheet over the years. + +**That was of course questionable on whether it was a liquidity or collateral issue, until, the RRP rate dropped negative in March of 2021, as well as in April of 2021.** + +&#x200B; + +# 5. Reverse Repo Rate Flips Negative; Warnings Of Collateral Shortage + +Think about it quite simply in a supply/demand factor and the reverse repo when the RRP rate dropped negative. + +You are a bank. You want to get Collateral from the Fed to balance your sheets. The Fed says they'll give you a small amount of interest for borrowing their collateral overnight. But now, imagine that the supply of collateral is too low and demand is too high. The Fed will no longer want to pay you for borrowing its collateral so it will shift the interest rate down. If demand really outweighs supply, then the Fed would then want cash from YOU in order for YOU to borrow the collateral. + +[https:\/\/www.reuters.com\/article\/us-usa-bonds-repo-explainer\/explainer-u-s-repo-market-flirts-with-negative-rates-as-fed-seeks-to-absorb-excess-cash-idUSKBN2C32AI](https://preview.redd.it/eysh9mx9ok671.png?width=961&format=png&auto=webp&s=4d9d1695922b01651eae06c6bcc2753ad0f5b789) + +This was just one of the warning signs that a collateral issue was arising. The RRP rates were already at 0%, so the only way for them to move was either up or down. An increase in treasury demand could shift it down, into the negatives, which it did. + +&#x200B; + +# 6. The Fed Is Fudging The Numbers And Hiding A Collateral Shortage + +The drop in RRP interest rates to the negative **came after** the Fed increased the total borrowing amount of counterparties in the RRP from $30 Billion to $80 Billion. + +[https:\/\/finadium.com\/fed-increases-rrp-limits-from-30-billion-to-80-billion-to-ensure-supply-at-near-0-rates\/](https://preview.redd.it/by2ftlpopk671.png?width=1028&format=png&auto=webp&s=747f50e2fb63aabaedb6e9e947aa117f6c75f91b) + +Why did they do this? Think of it again as a supply versus demand issue. For simple math, imagine the Fed has 50 members. + +* At a limit of $30 Billion per member, that is a total of $30B \* 50 = $1.5 Trillion that can be borrowed. +* At a limit of $80 Billion per member, that is a total of $80B \* 50 = $4 Trillion that can be borrowed. + +What is this doing? Why did the Fed increase the limit? + +**It's artificially inflating the total "supply" of treasuries that can be borrowed by counterparties in the RRP. It is attempting to keep the interest rate positive because there is so much demand for collateral and not enough supply in the markets and on the Fed's balance sheet. The RRP was already at 0%, there was nowhere for it to go besides negative, which as you know implies a shortage of collateral and a red flag for the financial world.** + +Not only did they artificially inflate the total supply to combat the demand by increasing the total borrow amount, **the Fed decided to not affect the assets side of its balance sheet during these RRP transactions**. **This effectively leaves the supply of treasuries on the Fed's balance sheet the same.** This is another method to can-kick to avoid interest rates going negative and flashing a collateral issue. + +>When the Desk conducts RRP open market operations, it sells securities held in the System Open Market Account (SOMA) to eligible RRP counterparties, with an agreement to buy the assets back on the RRP’s specified maturity date. **This leaves the SOMA portfolio the same size**, as securities sold temporarily under repurchase agreements continue to be shown as assets held by the SOMA in accordance with generally accepted accounting principles, but the transaction shifts some of the liabilities on the Federal Reserve’s balance sheet from deposits held by depository institutions (also known as bank reserves) to reverse repos while the trade is outstanding. - [Source](https://www.newyorkfed.org/markets/rrp_faq/rrp-faq-archive/rrp-faq-200715) + +We can see this visually from the Fed's balance sheet that they're not affecting their assets during the RRP. They're allowing counterparties to borrow treasuries **WITHOUT** affecting the supply - desperately trying to get away from the rising demand for treasuries and avoid treasury yields from snapping down (and likewise the price of treasuries up): + +[https:\/\/www.federalreserve.gov\/monetarypolicy\/bst\_recenttrends.htm](https://preview.redd.it/evxua80crk671.png?width=893&format=png&auto=webp&s=6a925b05e7a460b252457923ca97c730c511da6b) + +**On top of this, the Fed showed their hand ONCE AGAIN of fudging the numbers on June 16th when they bumped up the RRP rate to 0.05%. The short-term treasury yields briefly went BELOW the RRP interest amount of 0.05% on June 17th when the new RRP ROI was in effect.** + +**This is a BAD sign because now overnight RRP had a higher return than 2-month and 3-month treasury bonds.** + +**The Fed is fudging the numbers trying to hide the treasury bond shortage.** + +The Fed cannot keep this up. They're trying to keep the T-bill yield curve propped up despite the treasury shortage. They're not affecting their balance sheet, and they also artificially increased the amount of treasuries in their "supply" by increasing the counterparty borrow limit from $30 Billion to $80 Billion. + +[https:\/\/alhambrapartners.com\/2021\/06\/17\/the-fomc-accidentally-exposes-itself-reverse-repo-style\/](https://preview.redd.it/sp52qka5tj671.png?width=858&format=png&auto=webp&s=69d7ec8971035a7939f7bed116f7c923215019d6) + +[https:\/\/www.treasury.gov\/resource-center\/data-chart-center\/interest-rates\/Pages\/TextView.aspx?data=yield](https://preview.redd.it/1f64o77tsk671.png?width=972&format=png&auto=webp&s=48e83c02895066c4e300c5a8adf3d3a065a6b016) + +The Fed is also planning on increasing interest rates. This starts to scare the economy, which is most likely why we're now seeing the dump of the stock market over the past few days and the dump leading into the week of June 21st. This is **bad for the markets** because it means it's going to cost more for the economy to function (e.g. what happened in 2019 when Repo Rates spiked to 10%). Companies have to spend more to hire, produce, etc. **It costs the economy more to function.** + +**The Fed is pinned between a collateral issue from QE sucking out collateral, and a liquidity issue and COVID pumping in too much liquidity for the banks to handle.** + +[https:\/\/www.cnbc.com\/2021\/06\/16\/fed-holds-rates-steady-but-raises-inflation-expectations-sharply-and-makes-no-mention-of-taper.html](https://preview.redd.it/uhhhzguotk671.png?width=1202&format=png&auto=webp&s=cab32cef615311320c6cf27461fa7fb18b0fc7af) + +[https:\/\/www.bbc.com\/news\/business-57090421](https://preview.redd.it/p0v9ij2b0k671.png?width=1013&format=png&auto=webp&s=bf8f525bfc55e8f1287e921bbaaa408c5c27a253) + +# + +# 7. Quarter Ends Explode The Reverse Repo. The Next Quarter End Is June 30th, 2021. + +This is not a date to look forward to for GME potentially rising. This is a date of "Holy shit. **The RRP could explode to the point where treasury supply vs demand is unable to take it any more**". + +About 3-4 days prior to quarter ends, the RRP explodes up in the amount of collateral that is borrowed from the Fed. This is because of the underlying plumbing of the financial markets, identified in Section 3 above, causes additional strain on the financial markets. The banks need more collateral to prop up their balance sheets for the night of the quarter-ends. + +The RRP borrowed amount can shoot up almost **2-4x the current levels.** The amount of RRP at the moment is $747 Billion. **The RRP could explode 2-4x the amount it is at upon June 25th, 2021**. What if it's $1 Trillion by then due to the massive amount of collateral needed by the banks? More? + +**Can the Fed handle it?** + +**Can they still prop the yield curve up?** + +**Will the short-term treasuries dip below the RRP amount once more due to this shortage and flash red flags to the world of financial instability in the US?** + +[https:\/\/www.reddit.com\/r\/Superstonk\/comments\/nylihz\/previous\_rrp\_behavior\_on\_quarter\_ends\_massive\/](https://preview.redd.it/63daa1s8gk671.png?width=1277&format=png&auto=webp&s=d04d4a6b577152d26d6f7ea6e0c31f05f7ce80dc) + +If the US Treasury yield curve snaps down from this instability and the Fed no longer able to prop up the yield curve, then it can drive treasury prices up. + +If /u/atobitt's "[Everything Short](https://www.reddit.com/r/GME/comments/mgucv2/the_everything_short/)" is true and they're actually shorting treasuries, then that can lead to banks defaulting due to the price of treasuries shooting up. When they default, they'll be forced to buy up all the treasuries that they've shorted into the market. + +**And it is very possible that they are shorting treasuries.** + +When performing RRP of 0%, the repo market was most likely shut down due to nobody needing cash loaned out. The banks only profitable move was to perform the RRP with the Fed and then **short** treasuries into the market, **rehypothecating** the treasuries to other parties. This would have also helped prop up the market by artificially increasing the supply of treasuries (collateral) in the market. + +If it's true, and they have truly been performing the "Everything Short", then it could initiate a Global Financial Crisis equivalent to The Great Depression. + +Do I want that to happen? **No**. But is there a chance? **Yes, there is**. + +Is GME going to squeeze? Is the DD just false hopium? I don't think it's just hopium. I believe in the DD. + +But some users might think otherwise and not believe in GME or the DD. Hello users outside of /r/superstonk! If you're reading this, check out the DD on the subreddit! + +Even if there's a **slight** chance of a GME squeeze in **your** eyes, and all of these signs are pointing to a market crash... + +[Why not give it a shot](https://www.youtube.com/watch?v=l4nSHsbFe-o)? +**EDIT:** u/MrGold93 **messaged me and pointed out an error with the 2015 calculation. I reported $1,236,536,000 worth of "securities sold, not yet purchased", but this is actually their "securities sold under agreements to repurchase" (AKA Repo liability). I calculated this as 15.7% of total liabilities, when it should have been $6,464,142,000- 82% of total liabilities. I read through the statement too quickly and reported the wrong line, so thank you to** u/MrGold93 **for the fact-check!** + +https://preview.redd.it/x78oq389kbl81.jpg?width=807&format=pjpg&auto=webp&s=c1be4249e15c04d84d106d2b6fe45b795b8b6e76 + +**TL:DR** + +**Citadel Securities pumps up their short position during 2021 and Citadel Advisors is even more fuller of hot air than in 2020. They also had a FINRA orgy with 14 different exchanges over erroneous pricing practices between 2014 and 2020.** \_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ + +It's FINALLY HERE.. + +At long last, Citadel Securities has published their financials for 2021 and I've done me a dabble or two. If you haven't read [Citadel Has No Clothes](https://www.reddit.com/r/GME/comments/m4c0p4/citadel_has_no_clothes/), please do so before reading on. + +Before I go balls-deep into this b\*tch, let me start off by updating our total [brokercheck.finra.org](https://brokercheck.finra.org) report on Citadel Securities. At the time of writing my first piece back in March 2021, we were at 58 total violations. As of writing, Citadel Securities has achieved another **15 violations**, bringing Kenny's grand total to [73](https://files.brokercheck.finra.org/firm/firm_116797.pdf). + +\*light applause\* + +To be fair, 14 of these violations were for the same thing... they were just hit by 14 different exchanges at the same time... \*Insert black guys & blonde girl meme\* + +**NASDAQ MRX, LLC** + +**CBOE EDGX Exchange, INC** + +**CBOE BZX Exchange, INC** + +**CBOE BYX Exchange, INC** + +**CBOE EDGA Exchange, INC** + +**NAXDAQ ISE, LLC** + +**NASDAQ Options Market, LLC** + +**NASDAQ GEMX, LLC** + +**NASDAQ Stock Market** + +**NASDAQ PHLX, LLC** + +**NASDAQ BX, INC** + +**NYSE** + +**NYSE ARCA, INC** + +**NYSE National, INC** + +Their other violation from 3/2021 was covered in my post ['Walkin Like A Duck'](https://www.reddit.com/r/Superstonk/comments/ml48ov/walkin_like_a_duck_talkin_like_a_duck/).. Check it out. + +...Anyway.. + +If my maff is correct, that means Kenny G did himself a heckin' naughty and racked up another **25.86% of his TOTAL violations in just one year**. + +\*little bigger applause\*. + +Now let's remember, although these violations were published in December 2021, they were an accumulation of issues from prior years. In fact, the earliest date I found was August 15th, 2014 and the most recent was in May or June 2020.. **So that's 1 issue, reported by 14 different exchanges, across 6 years, totaling... $225,000** \*little fart noise\* + +Before I make anyone think the sky is falling- this is NOT a monumental fine.. This is just what has been reported by FINRA during 2021. I'll explain why I find it interesting in a sec but I need to preface these things because I know someone out there will say *"tHaTs NoT tHaT bIg Of A dEaL, RoBiNhOoD hAd A bIgG...."*... I promise you, I know. + +At any rate, here's the violation: + +https://preview.redd.it/byby06na0nk81.jpg?width=1037&format=pjpg&auto=webp&s=175108e496e71c13c34049f0c4c34ecb4669ec40 + +Right off the bat, we have Citadel's signature violation **"IT FAILED TO ESTABLISH AND MAINTAIN REASONABLE RISK MANAGEMENT CONTROLS AND SUPERVISORY PROCEDURES"** ... BLAH BLAH BLAH. + +Long story short, here's why I think this matters: + +When an option order is placed, Citadel has a price control mechanism that would reject orders priced at a "certain percentage" away from the NBBO. This makes sense.. no big deal.. You shouldn't execute on trades that are too far outside of the best bid. However, if that order is cancelled and replaced, you should repeat this process... which clearly didn't happen. + +When an order is placed, it is often broken into several "child orders". This allows trade blocks to execute and complete the order at the best price for the customer. If too many of those child orders are outside of the NBBO, the blocks should stop executing until either the order is cancelled or the NBBO is back at the appropriate price.. If this system doesn't work appropriately, it will complete the order outside of the NBBO.. Hopefully you can see where this would be a major disadvantage to the customer. + +What's interesting here is the language ***"The firms erroneous order controls ... included a price control that would reject limit orders that were priced at a certain percentage away from the NBBO"..*** + +..then.. + +***"However, when an option order was cancelled and replaced, the price control was NOT applied to the replaced option orders."*** + +So... all 14 of these exchanges would receive limit option orders from Citadel before the market opened. If Citadel replaced the original order *after* the orders were sent to those exchanges, ALL of those orders would execute without appropriately reviewing the new parameters set by the replacement order.... + +**That's NUTS!** + +Even more alarming is the lack of documentation that their personnel were supposed to follow in these situations. I know things get hectic for traders and it's hard to keep track of everything. We're all human and sh\*t happens, but SURELY someone at Citadel noticed this occurring before the hammer had to come down, externally. Every past violation seems to highlight Citadel's lack of "give a f\*ck" when it comes to these things. It just leaves a sour taste in the mouth.. + +I'm sure everyone knows about the DOJ investigations going on right now. These issues can have a direct impact on their ability to manipulate prices. Intentional or not, if you're aware of these issues and fail to fix them, you're guilty. **PERIOD.** + +\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ + +**MEAT N' POTATOES, TIME** + +Recall from [Citadel Has No Clothes](https://www.reddit.com/r/GME/comments/m4c0p4/citadel_has_no_clothes/) that **Citadel ADVISORS** had roughly $385,000,000,000 (that's billion) in assets under management in 2020... That consisted of roughly **76.7% derivatives and less than 25% of actual, physical assets....** + +I was shocked to learn that initially, but after following their filings through 2021, I realized it was basically their bread n' butter. According to the most recent report on [https://whalewisdom.com/](https://Whalewisdom.com), their AUM as of 12/31/2021 had increased by over $100,000,000,000 (again, billion). + +But that "increase" doesn't really represent true value... In fact, **it's the highest-risk profile** I've ever seen. Here's the market value of their equities & derivatives on 12/31/2020: + +https://preview.redd.it/z0lfg8jr9nk81.jpg?width=1001&format=pjpg&auto=webp&s=d9f25be61927ea3ac081d45d604df0b052d27c98 + +*AAAAAANNNNNNNNNNNNNDDDDDDDD* here's the AUM for year-end 2021.... + +https://preview.redd.it/fs2dkn55ank81.jpg?width=996&format=pjpg&auto=webp&s=023327ebb2c63479f99dde8e17c0d88f3c7e4be5 + +Market value of physical equities is up 7.88%.... and their derivative values are up almost **37%?!?!** + +37%?!?!?!!?!! IN ONE YEAR?!?!?! **THEIR ENTIRE PORTFOLIO IS NOW 82.59% DERIVATIVES...** + +I've waited an entire year for someone to show me one other firm that has this type of portfolio.... or WHY it would be a smart idea.. + +If you're not sure what this means, I'm saying more than 80% of their portfolio is a STRAIGHT- UP gamble. Over 9% of their portfolio is a bet on Tesla... (they're bullish FYI). + +Hell, almost 7% of their portfolio are SPY PUTS. + +\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ + +THIS NOW MAKES TWO YEARS IN A ROW THAT I'M AWARE OF.. NOT ONE, BUT TWO.... + +WANNA KNOW SOMETHING ELSE THAT'S INTERESTING ABOUT THE NUMBER TWO? IT'S ALMOST THE SAME NUMBER OF PHYSICAL SHARES THAT CITADEL ***ACTUALLY*** OWNS.. + +Moving on.. + +Citadel Securities upped their short position to $65 billion this year. It's the highest since...... + +2020.... + +which was the highest since...... + +2019... + +which was the highest since.... here, just take a look at this: + +https://preview.redd.it/223tiwo8lbl81.jpg?width=538&format=pjpg&auto=webp&s=f5d39cf70966dabd249d823a72d1dea4f4e756d9 + +Basically, Citadel Securities' holds over 87% of their liabilities as short obligations. This is split between options and equities, which is nothing new for them... + +Interestingly, they haven't had this level of short liability since right before the financial crisis of 2008... If I were to make a guess, I'd say they are betting against..... well.... everything? I wish I had their [whalewisdom.com](https://whalewisdom.com) reports so I could compare how Citadel Securities scales with their hedge fund's prior filings. Would be interesting to see if the shorts are outgrowing their physical assets... + +well that's not a fair statement because anything can grow quicker than their physical asset portfolio. + +But you know what DOESN'T have problems growing? Their **#SHORTS** + +&#x200B; + +**DIAMOND.F\*CKING.HANDS** + +\#GMEtotheMOON + +\#HODL +Retired a while back and as I ended up selling less than $170,000 of stock in 2018 (cost basis is 55%), my taxable income was under the $75,000 threshold for single taxpayers. As a result, and I'm getting a full $1,200 stimulus check. + +Yes, my stock portfolio value has fallen many hundreds of times this amount, I suspect I'll be paying this back in the form of increased capital gains taxes down the road, and when working I regularly paid 6-figure annual tax bills. + +I hate to look a gift horse in the mouth, but a single retiree with a multi-million dollar portfolio who can safely spend $170,000/year should be the last person getting a $1200 stimulus check from the government. Heck, if my spending was $100,000/year (more than manageable as I own my housing outright), I wouldn't be paying any income taxes at all (given the $50,000 - 0% capital gains limit) and would still receive the check. +I have read countless threads on different strategies and I'd love some feedback if what I've been doing makes the most sense. + +As the title suggests, I currently have about $200,000 in my account and I am looking for reasonable growth day by day over time. Aggressive but not stupid. I feel I am understanding what mistakes I'm making and would love some feedback if possible. + +A few days ago I sold 2 $TSLA $500 puts and when $TSLA had a nice day, I closed them for something like 65% profit which was somewhere in the $1200 range. + +On the other hand I sold 5 $220 puts on $BA and when news hit it this morning, I start to panic, I average down, I buy more etc. + +The bottom line is that in my heart of hearts, I would be fine owning 200 shares of $TSLA at $500 where I don't know I'd want 500 shares of $BA at $220 (Though I thought that was great at $BA $240). + +So my question is simply - is that it? In order to grow my account, I need to only sell what I genuinely wouldn't mind owning, NEVER average down- either close or JUST CHILL and lastly - most importantly, in an ideal world, I can net $3,000 a week. Is my current strategy viable- is there a better option, and if not, what sort of bank roll do I need to start with to make the $3,000 a week somewhat realistic? + +Thank you. I appreciate the insights I've learned here and thank you for any guidance you can provide. +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 have seen a very common behavior after reading so many things (not just books) and hearing many talks and watching videos. + +>**"When people start calling warren buffet dumb, well we are in a bubble"** + +Buffet missed Internet stock, He is Dumb!. + +Buffet Sold Airlines, He is Dumb!. + +A 20s guy calls 90s (age or era) old man Dumb...& many believes it. + +&#x200B; + +For those who are experiencing FOMO, please do watch it: + +[Warren Buffett: How Long Can Stocks Stay Overvalued?](https://www.youtube.com/watch?v=gYoTY9MoaUY&t=64s) + +For Full (My Favorite): + +[Warren Buffett, Chariman, Berkshire Hathaway Investment Group | Terry Leadership Speaker Series](https://www.youtube.com/watch?v=2a9Lx9J8uSs) + +&#x200B; + +From The Five Rules for Successful Stock Investing Book by Pat Dorsey + +>I realized this some years ago while attending the annual meeting of Berkshire Hathaway, the firm run by billionaire superinvestor Warren Buffett. I overheard another attendee complain that he wouldn’t be attending another Berkshire meeting because “Buffett says the same thing every year.” To me, that’s the whole point of having an investment philosophy and sticking to it. If you do your homework, stay patient, and insulate yourself from popular opinion, you’re likely to do well. It’s when you get frustrated, move outside your circle of competence, and start deviating from your personal investment philosophy that you’re likely to get into trouble + +**Edit: Few are considering this as a Buffet fan post. It is NOT !.** + +**I'm talking about the behavior and co-related human crowd being to optimistic to calling buffet as dumb. Both looked to be happening at the same time as per my realization!** + +&#x200B; + +>BullMarket=Human optimism high=Buffet is Dumb. + +It's **crowd behavior** I'm talking about in this post ! + + +Edit2: + +About the Bubble (I'll check what experts are saying) : + + +Q: Are we nearing the top of the bubble? + +A: there are only few sectors in bubble. rest market is below 2018 + + +Source: [@contrarianEPS](https://twitter.com/ItsVeeeJay/status/1380533963890946049?s=20) + + +Keep Learning!!! +31 yo/ here. 100% in equity. 50% etfs & 50% blue chips. This sub seems to be have a alarming amount of people with high risk, highly speculative portfolios. I get the feeling that some of these people feel this market rally will never come to an end. Suddenly a portfolio that is not heavy with US tech or speculative small caps is suddenly a "boomer" portfolio. I get enough US tech exposure through my s&p500 etf. I dont believe getting greedy or going "all in" on high risk bets is a sustainable investing strategy. + +Call me old fashioned but I still think a globally diversified portfolio is the best way to get stable, & sustainable returns. +Hi guys, + +Inflation in Japan is currently the lowest in the world at something around 0.5%; my question is as every other country is struggling with unprecedented levels if inflation not seen in 3 decades, how is Japan managing to keep their inflation so low? Also, would you argue that this is a good thing? How is their employment level, wages, inequality, housing prices, stock prices etc... + +Thanks in advance. +I work in the Canadian export industry and figured that you all may appreciate an update on what's happening with this global shipping crisis as it has a huge impact on many of the value companies that many of us look at. This is an update I am currently sending out to customers and is from a Canadian perspective but this effects all US shippers the same. Some of my US counterparts are having the exact same issues and are unable to ship through most major us ports, especially those in the northern states. + +Things have gotten much worse in Canada over the past 24 hours. Prior to this week, shipping through Vancouver was already basically impossible as no vessels were arriving to take cargo so all cargo was being diverted to Canada's other major port, Montreal. Now, because of the backlog of cargo and lack of containers in Montreal, our transloader in Montreal is refusing all inland deliveries effective immediately... both truck and rail, and they are the only facility that can transload from rail to containers at the port in Montreal. Additionally, the shipping lines essentially have no available containers in the port which means they are not sending any inland… So we cannot get containers anywhere in Canada…. To add further pain to Canadian shippers, a record setting storm hit the west coast this past week which has destroyed multiple sections of the rail line that brings cargo to the port and the highways used as a secondary route to the port. So even if Vancouver was able to get vessels, for at least the next 2-4 weeks, there will be no way to ship through Vancouver as there is no possible way to get cargo to the port while repairs take place. + +This means that as of yesterday, Canada has essentially been cut off from global containerized markets… + +How did this all start you may be asking? For a quick recap: + +1. China shuts down thx to covid + +2. US and European stimulus gives consumers never before seen levels of disposable income + +3. Consumer demand = extreme purchasing levels of consumer products made in China + +4. Shipping lines divert all available ships to china to fulfill consumer product demand (which include toys, kayak, computers, car parts, ect). Consumer product sellers (walmart, amazon, Home depot, Ford, coke, ect) are willing to far out pay traditional markets for containers as they know consumers will pay whatever prices (case and point, vehicle prices skyrocket yet there is still a ton of demand) + +5. Containers and vessels are no longer available for traditional shipped goods from North America or any market for that matter (grain, wood, ect) and lines increasing prices monthly while reducing service + +Hope this is some useful info for ya'll! Feel free to ask any questions, happy to help. +Super hypothetical. But if, like Britain, everyone is very far removed from manufacturing and agriculture. Where we have huge chains of supermarkets like Tesco or Sainsbury's (Walmart I guess would be US equivalent). + +Would we benefit from a move to a country with lots of small self sufficient industries. So you buy your clothes from a few of the town's main manufacturers. Your food is locally sourced from local farms. Most of the high street is small, private, independent shops. + +I appreciate that not everything can be produced locally. But if we were to move back more in that direction. As some town's still do (e.g. Totnes in Devonshire). + +Is there a name for this economic theory of decentralisation? Do you think this would be a net positive or detriment? +I'm not sure if this falls under Rule V (i hope it isnt) and is soapboxing. I'm not trying to instigate fights or anything I'm just curious if the economic logistics and actual theories hold up against the narrative. + +I only took electives in Econ, I am an Accounting major so my deep understanding of Economics only goes as far as basic formulas on supply and demand curves + history of economics and the different political systems economics operates under. + +Anyways, I've seen this narrative online where people constantly demand Jeff Bezos, owner of Amazon, to give his wealth back to the lower class and the people who need it, with tweets along the line of 'if Jeff Bezos' gave 1% of his wealth, he'd stop world hunger, do x, help y' etc. + +As far as my knowledge goes, a majority of his wealth comes from stocks, and from my own years of formal education, the stock market doesnt take kindly to 'selling out a sh\*t ton (for a lack of better word) of stocks' from a multibillion dollar company since itd devalue the stocks right away and cause investors to turn back and itd just be bad for the lower class + economy in general. + +So with that being said, is it correct to assume that the online posts about Jeff Bezos and how a portion of his wealth should be given back to the poor is just misinformed fearmongering? + +~~I know Amazon has a history of bad employee related policies, but that's a topic for another day.~~ +I'm sure I'm not understanding something, but wouldn't it make sense to just not print more money until inflation was balanced out? There'd be a limited supply and over time it would become more valuable. I mean you'd only print more for replacing damaged currency but that's it. +Could someone explain to me why this would or wouldn't work? Because I don't see why it wouldn't. + + +Smell that? You might remember it from your mom’s house or off the girl you’ve been dreaming about. That’s the smell of someone who brings in generational wealth for all their bros and brolets by actually having the fucking balls to get shit done. + +While you loser cucks are sitting with your thumb up your ass pretending to understand how to buy and sell during shitcoin mania, the one TRUE Chad token has launched leaving you to sit and cry wondering why your bitch ass didn’t make it. + +When you’re done wallowing in self-pity like a fucking dipshit, smack yourself awake and pick up some CHAD token. Check out the fucking website and the Chadpaper and **tell me this isn’t going to go another 100x from here.** + +You won’t. + +Whenever you’re done shitting your pants thinking about how much fucking money you’re going to blow on coke and escorts every night, make sure you join the TG and see just how many stacklets are gathering together to create Chad buys after Chad buys after Chad buys. + +**Imagine the Chad army once its busy raiding wet napkin cuck tokens, and shilling non-stop to feed their starved no-coin villages.** + +**Listings are coming for the bulls and audits are coming for the nerds**, cause Chad’s will take your money no matter who the fuck you are. Just make sure you don’t sell your CHAD otherwise **you’ll get tagged with ESTROGEN airdrops** to let all your bros know what a fucking loser you are. + +So why the fuck are you still reading, nerd. Stop being a stupid virgin loser, get that sand out of your vagina, and hurry up to get some CHAD before you stay a complaining little bitch forever. + +And don’t even try to bring that FUD shit here. We. Will. End. You. + +[THE FUCKING WEBSITE](https://www.thechadtoken.com/) + +[BUY FUCKING NOW](https://exchange.pancakeswap.finance/#/swap?outputCurrency=0xea8eacce22bbb89709482c0100e75e7ab90f53f4) +WELL health technologies just put put a press release stating they are starting to buy back their own stock. Their last big raise was at $9.80 so they know it’s at a discount here. This company is modernizing healthcare and has acquired some big assets and has strongly expanded into the US. + +https://ca.finance.yahoo.com/news/well-health-announces-normal-course-110000167.html + +Goal is to replace my W-2 income with passive income in the next 5 years. I’ve moved out of some underperforms lately and into SCHD. Anything I should absolute re-think? + +Roughly 80% of this is in my taxable account with the rest in Roth IRA. +So, I'm thinking about graphs like [this](https://www.ft.com/__origami/service/image/v2/images/raw/http%3A%2F%2Fcom.ft.imagepublish.prod.s3.amazonaws.com%2F7da2f0f8-c89e-11e7-ab18-7a9fb7d6163e?dpr=1&fit=scale-down&quality=highest&source=next&width=700). The implication of this claim would be some form of neo-colonialism where the developed world screws over poorer countries by maintaining their lifestyle while moving all the bad side-effects to the third world. Does this claim hold any truth? +BNN Link (a write-up): [https://www.bnnbloomberg.ca/biden-eyeing-capital-gains-tax-as-high-as-43-4-for-wealthy-1.1593968](https://www.bnnbloomberg.ca/biden-eyeing-capital-gains-tax-as-high-as-43-4-for-wealthy-1.1593968) + + +>(Bloomberg) -- President Joe Biden will propose almost doubling the capital gains tax rate for wealthy individuals to 39.6%, which, coupled with an existing surtax on investment income, means that federal tax rates for investors could be as high as 43.4%, according to people familiar with the proposal. +> +>The plan would boost the capital gains rate to 39.6% for those earning $1 million or more, an increase from the current base rate of 20%, the people said on the condition of anonymity because the plan is not yet public. A 3.8% tax on investment income that funds Obamacare would be kept in place, pushing the tax rate on returns on financial assets higher than the top rate on wage and salary income, they said. +> +>The proposal could reverse a long-standing provision of the tax code that taxes returns on investment lower than on labor. Biden campaigned on equalizing the capital gains and income tax rates for wealthy individuals, saying it’s unfair that many of them pay lower rates than middle-class workers. +I'll put the best info up front. If you want to avoid late payments, minimize damage, and overall cultivate quality tenants, your screening process needs to account for the following 4 things. + +&#x200B; + +1. Credit Score of 600 or higher (consider going to 650 in some areas) +2. Clean Criminal Background with no Felonies (some jurisdictions will not allow you to refuse Felons, check with a local lawyer/realtor) +3. No Past Due Balances to Landlords or Utility Companies. +4. Monthly Income of 3x the rent or more. + +&#x200B; + +This is the criteria that my company uses to screen tenants for the 620 properties that we manage. Using this method we have over 95% of tenants pay on time with a $0 balance on their ledger (even during Covid). Our average vacancy is under 2 weeks per year. Our average property turn is under $300, and over 95% of turns cost less than the Security Deposit. It's not a fool-proof method, nothing is, but it's consistent and it protects us and our homes in most scenarios. + + + +**Those 4 are pretty obvious. Here are 4 common mistakes to avoid that I see private owners make all the time.** + + +1. No Cosigners. +2. Don't fall for Sob Stories. +3. If ANYTHING seems fishy, run. +4. Never compromise, even if your home stays vacant a little while. + +**Cosigners** + +With the possible exception of college towns with young students just starting out, you should never accept co signers. If a tenant is in need of a cosigner to begin with, this shows they can't handle their own finances. They are an accident looking for a place to happen. Point them to a life coach or financial specialist who can help them get back on track, but do not make their problems your problems. + +Not to mention, the vast majority of Co-signers think it's a 'letter of recommendation' type situation, and have no intention of paying for their delinquent friend/family. + +&#x200B; + +**Don't fall for Sob Stories** + +*Hurricane Katrina displaced me from my home, and I couldn't find a job in the 2008 recession, when I finally got my feet underneath me in 2014, my kid got leukemia & I got diabetes. I had to go to part time, then my wife left me and I lost the house....* + +Look, I don't mean to be cynical here, but don't let someone else make their problems your problems. + If a person falls on hard times, and needs financial help, there are thousands of missions, support groups, churches, & charities in the world designed to get people the help they need. If you feel a personal call from God to be this type of change in the world, go volunteer at any one of these places, but **DON'T USE YOUR RENTAL AS A CHARITY.** I keep a mental list of the best local missions & charities so that I can point those in need to people who can best help them. I am not a professional problem solver, I know housing and that's what I provide. + +&#x200B; + +**If anything seems fishy... run** + +When people let their financial situation go south, they get desperate. Some use this desperation to get the help they need and get their life in order. Some turn to fraud. I've had women say they were living alone, only to sneak their SO with 5 counts of felony assault into the home. I've had people use their family's SSN to apply for the home. I've had suspicious gaps in employment/housing history, etc. + + +&#x200B; + +**Never Compromise** + +In almost every situation where I give someone the benefit of the doubt, something shady comes up, and I end up regretting my decision. It's almost always better to refund their application fee, and let the property sit a week or two, than to take the gamble. + + +*Remember if it takes 2-3 weeks of lost rent to find a better tenant, that's still a better deal than a month of lost rent.* +At some point every year, my father will complain about how the price of bacon has risen by a ridiculous amount over the previous year. The problem is that his previous-year basis is always $3.50/pound, so after a few years his perception of a year's worth of inflation is absurd. (I found [a source saying bacon hasn't been $3.50/pound since 2006](https://www.usinflationcalculator.com/inflation/bacon-prices-by-year-and-adjusted-for-inflation/), which matches my memory.) This becomes supporting data for his belief that the economy has gone to hell in a handbasket since the previous year every year. + +While this is a very micro-scale thing, I have to wonder if stuff like this adds up to having larger-scale impact if enough people form their beliefs about and attitudes toward the economy, and whether false beliefs about more significant stuff (like the belief that all real estate always increases in value) have large-scale impacts. +In 2016 my co-worker told me that his friend and his friend's dad bought a few million shares of TPAC and it was going to go to the moon. I had never invested in a penny stock before that, so I bought into the hype and thought maybe I, too, could go to the moon. I bought 3 million shares at .0013 and watched the thing sink to .0001 over the course of the next year. Then it sat dormant for about three years. Seemingly out of nowhere, it started getting volume again recently and today I sold all my shares at .0006. Feels good to finally be rid of it. +This is the #1 piece of FUD I’ve seen for the last 12 months and it’s just been blown to bits. I’ve been all-in on GME since Jan 20, 2021 and every week I see a post or comment either begging for or asking why not has a long whale just come in and blown up the hedgies positions (implying that because it hasn’t happened, the squeeze isn’t real). + +It’s because they’re not allowed to do so by the SEC due to mArKeT mAniPuLaTioN. + +Charles Gradante in his awesome tirade explains that retail, since we’re all just individual investors, were (and are) able to just keep buying and buying more shares and calls, which Melvin and other hedgies hedged by buying more shares, hoping the buying would eventually stop, but retail just kept buying more and more as the hedging raised the price more and more, death spiral infinity loop to Oort Cloud. + +We were allowed to do it because the SEC can’t act unilaterally on millions of people simply buying a stock and options on that stock, it’s completely legal and normal market activity. So instead, the market makers, Shitadel especially, used their influence and power to get brokers to turn off the buy button. + +Then the SEC and Congressional Finance Committee launched BS investigations that completely avoided talking about the real issues and instead talked about RETAIL needing to be regulated, rather than rightly pointing the finger at the market makers who abuse their privileges to swing the market to their whim and advantage. + +So, at least from all this, we can finally put to bed the FUD idea that the squeeze isn’t going to happen because otherwise long hedge funds would just have blown up the whole situation by now. We now know they’re not allowed to and we simply have to continue holding, buying, DRSing, and also playing smart options (far-dated near the money or in the money calls) because THAT is the exact recipe that led to last year���s sneeze, and will ultimately lead us to the short squeeze. + +This January, the end of **this month**, we’re heading into the same conditions as last year but with a fraction of the liquidity, which means the price is WAY more volatile on MINISCULE volume. We’re seeing 10% upswings and downswings on less than 5 million volume. Do you not realize how fucking insane this is? + +Last year, that 10% price swing would take 50 million volume or more. If you were around last February, you remember that we used to forecast “slow days” by measuring if we got less than a million volume in the FIRST MINUTE OF TRADING. Now we’re lucky to see a million volume by LUNCH some days. + +300,000 puts are going to expire this month that the hedgies have been using for a year to manipulate this stock down like sandbags on a hot air balloon. When those expire, the ropes are going to get cut, buying will start in order to roll forward their short positions, but the lack of liquidity is going to cause high price increases on very low volume, leading to a lot of the calls retail is holding going ITM, some of which are going to be exercised leading to more share buying by hedgies, leading to more low-volume price increases, and so on and so forth. + +I didn’t intend for this to turn into a rant about all this. The bottom line is, by holding onto our positions and relentlessly increasing the pressure on them this past year by continuing to buy, hold, DRS, and buy far-dated calls, **we are smoking them out**. It is unprecedented that retail has organized (legally) to fuck over this short position and manipulation because a community like this has never existed before sharing in-depth market information and data for months on end. They never thought we would hold past February so they just kept doubling down again and again. + +The longer they wait, the more expensive it becomes for them to delay closing their positions. We are winning ever so slowly and a catalyst from our company will eventually be the match that blows up this powder-keg. + +Every short squeeze ever begins with a major shorting attack to force the price down as much as possible so they can begin to cover for as cheaply as they can to reduce exposure. One day they’re going to fail to reduce that exposure significantly enough and MOASS will begin. I’m jacked to the tits because I believe that “one day” may very well be at the end of this month. Us being at $130 right now is simply the calm before the storm. + +Edit: after hours GME go REEEEEE. Feeling pretty good about that last line now. +# Introduction + +Without a doubt 2021 has been the most pivotal year for the uranium industry in more than a decade. The markets, politicians and corporations appear to have recognised that without nuclear power being a part of the energy conversation, a sustainable, zero carbon emission future will be near impossible to achieve. + +This recognition, coupled with multiple other factors including; major supply deficits, the exponential growth of the EV industry and its increasing power requirements and, more recently, the emergence of the Sprott Physical Uranium Trust (SPUT), has helped the spot uranium price hit near decade long highs. + +As a result we have seen massive gains across the uranium equities, particularly those on the ASX. But the best part is that the current cycle is still in its infancy. It is unlikely new production will come online during the next 12 months and further uranium price increases will be necessary for brownfield and almost all greenfield projects to commence. + +To put how small the uranium market still is into perspective: The WHOLE global market is worth only about US$42 billion (to date). That is all the uranium equities all around the world, the ETFs and major funds are worth a combined $42billion. Now Glencore is just a single major coal producer and has a market cap of US$64.46 Billion ! Let that radiate for bit. + +**This post will cover**: + +* Performance of ASX Equities for the past year and past 3months (Charts) +* The different types or stages of the ASX Uranium Equities (miners vs explorers) +* Comparison of the key mining and mine development companies +* Company Briefs and Updates + * Activities Last 12 months + * Pros and cons for each +* ETF Inclusion and re-balancing +* Punt’s Rocket Rating Update 🚀 + +For details of the [Uranium Bull Market Background](https://www.reddit.com/r/ASX_Bets/comments/lftl86/the_emerging_global_uranium_bull_market_a_summary/) \- see this post originally from September last year which was revamped in Feb 2021. + +For a detailed post on **everything** Nuclear Power, The Uranium Market update, SMR technology, managing waste, nuclear costs and much more - see \*\*this\*\* detailed u/Mutated-Cunt and +u/Calculated-Punt collaboration post **\*\*"this" is due soon and will be linked here\*\*** + +# ASX Uranium Performance - Chart Comparison + +[1 Year Performance Graph \(weekly\):](https://preview.redd.it/r2gw70k8viy71.png?width=903&format=png&auto=webp&s=5b8088ee7ad93633339b95c4850da5c55168ad1e) + +[3 Month Performance Graph \(weekly\)](https://preview.redd.it/eekpklneviy71.png?width=903&format=png&auto=webp&s=6da50e215841d79079ed6a5ba5dda3fa624338e9) + +# Types of ASX Uranium Companies + +The uranium companies can be divided into 3x Key Categories: **Miners** or near term producers, **mine developers** and **exploration** companies. There is also one uranium enrichment technology company on the ASX - Silex Systems (ASX: SLX) - but that is not included in the coverage. + +**ASX Uranium Miners / Producers** + +This covers the few ASX companies that have a uranium mine somewhere in the world that uranium can be produced from though may require some capital investment to restart. Currently ALL ASX dedicated uranium miners have their mines shut-in on care and maintenance while uranium prices are too low to sustain operation of the mine. The uranium miners will be the first to re-introduce supply to the uranium market when higher contract term prices are signed. Some of these miners, even though shut-in, have been purchasing physical lbs of uranium (like BOE to PEN) as a strategic stockpile investment and to also meet existing contract deliveries. There are also companies like BHP and Rio Tinto that have some uranium production, though this is not a primary asset, and for the likes of BHP uranium is a by-product from the copper Olympic Dam mine. These companies are not included in the coverage. Below are the main ASX uranium miners + +* **Peninsular Energy** (ASX: PEN) ---- Lance Project ISR Mine in Wyoming. Previous Producer. On care and maintenance. +* **Lotus Resources** (ASX: LOT) ------ Purchased the open-pit Kaylekera mine in Malawi from Paladin in March 2020. On care and maintenance +* **Boss Energy** (ASX: BOE) ----- Purchased the Honeymoon ISR mine from Uranium One in 2013. On care and maintenance +* **Paladin Energy** (ASX: PDN) ---- Retained the Langer Heinrich mine in Namibia - developed in the last cycle. On care and maintenance + +**ASX Uranium Mine Developers** + +These companies are those that have proved up a significant uranium resource and have conducted a series of studies or pilot plants for a large mine development. The Uranium Mine developers include: + +* **Aura Energy** (ASX: AEE) ----Tiris Project in Mauritania +* **Bannerman Energy** (ASX: BMN) ---- Etango Project in Namibia +* **Deep Yellow** (ASX: DYL) ----- Tumas Project Namibia +* **Toro Energy** (ASX: TOE) ----- Wiluna Project - Western Australia +* **Vimy Resources** (ASX: VMY) ----- Mulga Rock Project - Western Australia + +**ASX Uranium Explorers** + +Not necessarily dedicated to just uranium exploration as many exploration companies are in the search for other minerals such as gold, vanadium, battery metals and rare earths and will jump between what is hot at the time. This selection has some drilling or exploration committed to uranium exploration with at least 40-50% of the company and funding focused on the asset. + +* **GTI Resources** (ASX: GTR) Exploration in Utah and Wyoming (USA) +* **92 Energy** (ASX: 92E) Exploring Athabasca basin (Canada) +* **Elevate Uranium** (ASX: EL8) Largest tenements of exploration in Namibia +* **Alligator Energy** (ASX: AGE) Exploration tenements in SA and NT (Aus) + +There are a number of additional “uranium exploration companies” that don’t meet the criteria for worthwhile assessment. + +# ASX Uranium Miners and Developers Comparison Chart + +Credit to u/gloriathehippo for helping compile this table. NOTE: if you copy this table - then give credit where credit is due please. + +[Comparison Table of ASX Uranium Miners and Mine Developers. ](https://preview.redd.it/nql9eukzwiy71.jpg?width=1280&format=pjpg&auto=webp&s=2b6a3f549a1143c23e327f430c3a594168e78a75) + +# ASX Uranium Companies Brief and Update + +# Lotus Resources (LOT) + +**Brief History** + +Lotus purchased the Kaylekera mine (Malawi) from Paladin in March 2020 along with the surrounding exploration leases and infrastructure. Kaylekera previously produced 11Million lbs under Paladin operation from 2009-2014. + +**Key Activities Last 6-12months** + +* Ore Sorting Trials - Results of increasing grades by up to 100% with higher recoveries >92% (i.e. they autonomously sift through the ore to dispose of excess waste material before it goes through the mine plant). +* Increased ownership in Kaylekera from 65% to 85% (remainder 15% with Malawi Government) +* Near mine exploration - very under-explored with high upside potential +* 5,000m RC Exploration drill program - exploring for uranium AND rare earths + * 4,000m focused on Uranium and 1,000m focused on RE - results due late 2021 +* Acquired tenement with proven 6M lb in ground resource for $0.004/lb (total $25k) +* Cash of $29.1million with many options yet to be converted + +**Potential Catalysts and Forecast Activities** + +* Exploration Drilling results due late 2021 --> increase uranium resource size +* Rare earth discovery +* Definitive Feasibility study (DFS) due out in June/July 2022 +* Looking to go into contract negotiations in 2022 + * “Plan is to lock in multiple contracts in a layered approach with some produced lbs kept to the side for sale into spot market to maximise capital value” + +**Timeframe to production** + +* DFS +6months to negotiate capital and on contracts → end of 2022 for FID +* Refurbishment of plant to take 12-15months to complete → be producing uranium by Q1 2024 + +[Lotus Resources Pros vs Cons](https://preview.redd.it/mwq0q5fzxiy71.png?width=719&format=png&auto=webp&s=7e0763fd77883ae43d942da53410f1bdeec22fd0) + +# Boss Energy (BOE) + +**Brief History** + +Boss Energy (formerly Boss Resources) purchased the HoneyMoon mine and plant in central South Australia from US company Uranium One in December 2015. BOE has since increased the JORC resource size from 16.6Mlbs to 71.6Mlbs (\~331% increase), undertaken a number of studies and plant optimisation improvements and purchased 1.25 Mlbs of U3O8 as strategic stockpile. + +**Key Activities Last 6-12months** + +* Feasibility Study (FS) - Released in January 2020 +* Completion of Enhanced Feasibility Study (EFS) - Released in June 2021 + * Plans to remove the existing SX plant and replaced it with IX capacity to increase the production profile to 2.45Mlb/annum over a 10+ year mine life and reduce operating costs to achieve industry benchmark goals for low-cost producers of AISC of US$25/lb and cash costs lower than US$20/lb. +* Completion of two significant capital raisings: first for $15 million(@ $0.067/share Oct 2020) and an additional $60 million (@ $0.14/ share) during March 2021. +* Purchase and acquisition of 1.25 Million lbs of physical U3O8 @ US$30.15/lb - March 2021 + * Total cost of US$37.68M (A$49.69M) . This inventory is now valued at US$53.75M (A$73.83M) at spot price of US$43.00/lb. A$24mill book return on investment. +* Accelerated development of the exploration program which has already seen a JORC increase from 16.6Mlbs to 71.6Mlbs. + +“In addition to the substantial profit we stand to make on this investment, the stockpile de-risks our start-up process and therefore strengthens our hand in negotiations with potential customers.” - Duncan Craib (MD) + +**Potential Catalysts and Forecast Activities** + +* Ramping up of exploration activities with drill programs commencing in the December quarter 2021. +* Signing of first long term contract(s) +* FID and expediting time-frame to mine and plant restart + +[Boss Energy Pros and Cons](https://preview.redd.it/lqfvuuj3yiy71.png?width=704&format=png&auto=webp&s=d80183476c81d5259dcf989511b1cfc6b61f45d3) + +# Peninsula Energy (PEN) + +**Brief History** + +PEN is an Australian listed uranium mining company which commenced in-situ recovery uranium operations at their flagship 100% owned Lance Project (Wyoming) in December 2015. They have an existing contract book with about US$8mill revenue per year despite having their mine shut-in for the past 3 years. They are currently embarking on a trans-formative initiative to change from an alkaline ISR operation to a low pH (acidic) operation with the aim of reducing the cost profile and improving production efficiency. PEN requires approx US$6mill to convert the whole mine from alkaline to pH operation and approx 8months time frame following FID. + +**Key Activities Last 6-12 Months** + +* Advancing transition to low pH ISR process through field demonstration + * Demonstration has been operating for 12month - with uranium grades indicating that Lance is better suited to the planned low pH process than previous alkaline based operations. +* FY2021 uranium sales of 275,000 lbs - continue to generate cash for PEN +* An increase in lbs sold and for a higher recognised price per lb +* Cap raise of A$15.4 million (@ $0.015/share) to purchase 300,000 lbs or uranium at US$31.35/lb +* As of June 30th 2021, Net cash of US$6.7mill + 309,507 lbs of uranium inventory (book value of US$9.7mill @ $31.37/lb) + +**Potential Catalysts and Forecast Activities** + +* US Dept of Energy progressing Uranium Reserve - PEN seeking to be active participant (potential funding from reserve or offtake agreements) +* Completion of field demonstration (started in August 2020, expected to run 18-24months) +* FID and restart of operations (will require some additional funding \~US$6mill) +* Likely to develop additional fields to replace depleting ISR operations ($$) + +[Peninsular Energy Pros vs Cons](https://preview.redd.it/190mwq4fyiy71.png?width=726&format=png&auto=webp&s=5c9badcec97a356437db0b896786cd1339005dec) + + What does an insitu-recovery mine look like? Those black barrels are ISU wellheads and pumps. + +[Lance Project ISR Uranium Mine - Wyoming USA](https://preview.redd.it/5u1ou5miyiy71.png?width=602&format=png&auto=webp&s=bb9f7fb2d7527893c12d9808285a39b85f3beb97) + +# Paladin (PDN) + +**Brief History:** Paladin is one of the very few OG uranium miners that are still around from the previous major 2005-2011 cycle. They built the flagship Langer Heinrich mine in Namibia and later the Kaylekera mine in Malawi that they sold to Lotus Resources in March 2020. PDN own 75% of the Langer Heinrich mine with the remainder shared between Namibian government and CNNC. The mine produced over 43Mlb of U3O8 but was suspended in 2018 due to low uranium prices. Paladin also own a large global portfolio for uranium explorers assets. + +**Key Activities Last 6-12 Months** + +* Progress restart plan elements + * Optimise pit design, tailings management and mining schedules + * Appointment of key contractors +* Capital raise of A$218.7M to redeem and cancel US$115m senior notes (i.e. debt repayment) +* Company held US$30.7mill of cash and cash equivalents by June 30th 2021 + +**Potential Catalysts and Forecast Activities**. + +* Sell of some exploration assets to raise funds +* FID to expedite mine restart +* Likely need a capital raise going into CY2023 + +[Paladin Pros vs Cons](https://preview.redd.it/o57ve1btyiy71.png?width=695&format=png&auto=webp&s=1b791d427e00ae79354bba7c332c62341b3fbe11) + +[Paladin's Langer Heinrich Mine \(Namibia\)](https://preview.redd.it/pnxrtgwuyiy71.png?width=602&format=png&auto=webp&s=89fec94ceda2c4fbda90a612ddf74bb2bbf781fa) + +# Bannerman Energy (BMN) + +**Brief History:** BMN is an exploration and development company focused on Etango Uranium project in Namibia since 2005. One of the few companies around from the previous bull market. Globally significant resource endowment (207.8Mlbs!) - one of the world’s largest undeveloped uranium deposits. + +* Low technical risk - truck and shovel, heap leaching and de-risked with a pilot plant. +* Scalability from Etango-8 to Entango-20 (8Mtp.a. Up to 20Mtp.a. Plant throughput). + +**Key Activities Last 6-12 Months** + +* Aug-21 Completed Pre-feasibility study on 8Mtpa (Etango-8) project + * Strong economics and development of mine with initial 3.5Mlb pa - with expansion potential +* Feb-21 Capital raise of AU$12mill at $0.15/share + * Funds for PFS and DFS + * Buy-back and extinguish of the 1.5% revenue royalty held by RCF Funds +* DFS underway - expected cost of $4mill +* BMN added to both URA and HURA ETFs +* Value of company has increase several-fold since Sep 2020 ( +* Oct-21 Company founder and two MDs sold down some of their positions to institutional funds + +**Potential Catalysts and Forecast Activities** + +* Completion of DFS - due Q3 CY2022 + +[Bannerman Pros vs Cons](https://preview.redd.it/g1bmdr37ziy71.png?width=713&format=png&auto=webp&s=32f4aef35b7003bcb3a1b9a0e6a56782e32bb38c) + +# Deep Yellow (DYL) + +**Brief History:** Deep Yellow has the management play behind them with the ex-Paladin CEO, John Borshoff at the helm. A PFS was completed in early 2021 on developing their Tumas Project in Namibia. DYL’s plan is to establish a multi-project, globally diversified uranium portfolio targeting to deliver 5-10Mlb annually. John Borshoff was appointed CEO and MD in Oct 2016. + +**Key Activities Last 6-12 Months** + +* Tumas DFS commenced in Feb-21 following PFS proving sufficient for a 20+ year LOM +* The PFS only incorporated a portion of the known ore bodies in the study +* Resource upgrade drilling and exploration. Over 21,467m drilled over FY21 +* Capital raise of A$42mill in July 2021 - to advance feasibility studies and “M&A activities” + +**Potential Catalysts and Forecast Activities**. + +* Significant resource upgrade +* Merger and acquisition activity expected +* Completion of DFS and progress to FID + +[Deep Yellow Pros vs Cons](https://preview.redd.it/5n5xthngziy71.png?width=687&format=png&auto=webp&s=0a2af74b071ca939fdd93d3608dc0c1aa4a4220f) + +# Aura Resources (AEE) + +**Brief History** + +Aura Energy is an exploration and development company which is now focussed on the Tiris Uranium project, a major greenfields uranium discovery in Mauritania (Africa), with 56Mlb U308 in current resources from 66 million tonnes @ 334 ppm U308. Additionally Aura owns the HÄGGÅN vanadium project with a 15.1 billion lb Vanadium Resource (inferred) in Sweden. Aura also owns the Tasiast South Gold project in Mauritania. + +**Key Activities Last 6-12 Months** + +* Shares recommenced trading on the ASX on 23 September 21, with a renewed focus on progressing the Tiris uranium project and a significant re-rating upon listing. +* Updated DFS, reconfirming Tiris as a low capital cost development opportunity +* Resource upgrade of 10% or 5.0 million lb to the Tiris Uranium deposit in Mauritania +* US$10m Offtake Financing Agreement with Curzon in October 2021, funds will be used for working capital and commencement of production. Up to $10m in additional funds may be used by mutual consent. +* Two geophysical crews were mobilised from South Africa to carry out gravity surveying on all three of Auras tenements for Tasiast South +* $2m raise from issue of options to eligible shareholders, Stage 2 exploration underway at Tiris + +**Potential Catalysts and Forecast Activities** + +* Triple Uranium ETF entry in 2022 +* Results from Opportunity Review to lower operating costs for project +* Net Zero Emission Study, Water Drilling and Vanadium assays expected before the end of 2021 +* Gravity Survey results for Tasiast South (Gold) +* Further Offtake finance agreements and exposure to higher uranium prices + +[AEE pros vs Cons](https://preview.redd.it/vq0dkx800jy71.png?width=669&format=png&auto=webp&s=1cabaf7e3956af7e20dc8b3dd3380fd92f6b368a) + +# Vimy Resources (VMY) + +**Brief History** + +Vimy Resources is a developer with two projects, Mulga Rock and Alligator River Project, located in Australia. Mulga rock is a 90Mlbs uranium resource with a completed DFS and approvals now in place. Alligator River Project is a 26Mlbs deposit with further exploration potential. + +**Key Activities Last 6-12Months** + +* Included in Global X Uranium ETF (NYSE: URA) +* Completed a A$27.5M Equity Raise and Share Purchase Plan +* Mulga rock development + * Completed metallurgical optimisation test-work for Mulgarock: results look positive + * Early works program commenced + * Mulga Rock Uranium Project Mining Proposal and Mine Closure approved by DMIRS +* Alligator River Project - finalisation of 100% acquisition from RTX +* CEO and CFO stepped down + +**Potential Catalysts and Forecast Activities** + +* Positive exploration results from Alligator River +* Potential acquisition from a rival + +[Vimy Pros vs Cons](https://preview.redd.it/63guooef0jy71.png?width=648&format=png&auto=webp&s=cbf9da6d90693509f169d60560cdfa7e8c1d0d47) + +[Vimy Resource drilling at Mulga Rock](https://preview.redd.it/6v5uq3qh0jy71.png?width=602&format=png&auto=webp&s=08956133c8a2f250d9a553325bca8499daf18686) + +# GTI Resources (GTR) + +**Brief History** + +Minerals explorer with significant prospects: + +* Henry Mountains Uranium & Vanadium, Utah, USA +* ISR Uranium Properties, Wyoming, USA +* Western Niagara Gold Project, WA, AUS + +**Key Activities Last 6-12 Months** + +* Commencement of maiden field exploration program at Utah +* Compilation of historic open-file WAMEX records and exploration planning for Western Niagara +* Completed acquisition of Wyoming ISR Acquisition + +**Potential Catalysts and Forecast Activities** + +* NI Pumps +* Results from Jeffreys and Rat Nest Projects exploration targets in Henry Mountains (drilling Q1, 2022) +* Results from Wyoming Uranium Exploration (drilling during Dec, 2021) +* Potential triple ETF entry + +[GTR Pros vs Cons](https://preview.redd.it/x5ecnyvt0jy71.png?width=711&format=png&auto=webp&s=95c11ea2cb746e4e7c7882ee237cf153f2ee5f90) + +# 92 Energy (92E) + +**Brief History** + +Recently IPO’d in April, 92E is a uranium exploration company, exploring for high grade uranium in the Athabasca Basin. Athabasca Basin is considered a tier 1 uranium mining and exploration jurisdiction after discoveries that led to Cigar Lake, Mcarthur River, Arrow and Roughrider deposits. 92E started with 14 mineral claims in three project areas which has grown to 30 claims in five project areas in the last 5 months. They recently made a discovery at the Gemini Mineralised Zone (GMZ) with 5.5m at 0.12% U308 incl 1m @ .28% - 4th hole in their maiden drilling program. + +**Key Activities Last 6-12 Months** + +* IPO in April and SP has appreciated by \~150% +* Completed maiden drilling program and discovered on the 4th hole at the Gemini Project +* Pegged an additional 7 claims to expand the Gemini project area +* Completed a VTEM survey over the Tower Project (which is only 11km from Cigar lake) and identifying multiple prospective conductors to assist with new drilling targets +* $7.15m institutional placement at A$0.72 per share +* Appointed Kanan Sarioglu as VP exploration and Steve Blower to the board to strengthen core technical team + +**Potential Catalysts and Forecast Activities** + +* Planning for next drill program announced +* Additional technical team hire +* Drilling 7,000ma at Gemini in the upcoming Canadian winter drilling season (January - March 2022) +* Potential triple ETF entry + +[92E Pros vs Cons](https://preview.redd.it/ms61qdca1jy71.png?width=650&format=png&auto=webp&s=b8858eebc1038763c26903bd16e49d9329e09f3d) + +# Elevate Uranium (EL8) + +**Brief History** + +Elevate Uranium is a uranium explorer that owns significant resources in Namibia and Australia and has active exploration activities in both areas. Elevate is the largest tenement holder for uranium in Namibia and owns the Marenica Uranium project which is a 61 Mlb resource. Elevate value proposition extends to U-upgrade which is a patented uranium benefician process that has been demonstrated and lowers the cost base for uranium assets. + +**Key Activities Last 6-12 Months** + +* Completed Airborne electromagnetic survey across Namibia tenements and identified extensive palaeochannel systems for drilling +* Stephen Mann (Geologist with Uranium industry experience) appointed as non-executive director +* Changed name to Elevate Uranium Limited (**best name in the business**) +* Optionholders exercised options providing $2,748,906 cash to the company +* Appointed Dr Andy Wilde as Exploration manager - has worked with Paladin Energy Limited and Deep Yellow Limited in Namibia, Canada and Australia +* Namib IV Discovery - Intersected uranium mineralisation over a palaeochannel length of 17 kilometers within the main paleochannel +* Oobagooma - High-Grade Exploration target identified at Oobagooma (26 to 52 million pounds U3O8 with a grade range of 650 to 950 ppm U3O8 for its 100% owned Oobagooma uranium project.) + +**Potential Catalysts and Forecast Activities** + +Namibia + +* Koppies resource drilling results +* Namib drilling results +* Exploration activities in Hirabeb + +Australia + +* Exploration activities in Oobagooma and study results from other tenements + +Potential triple ETF entry in H1 2022 + +https://preview.redd.it/nnn4jv5l1jy71.png?width=653&format=png&auto=webp&s=1cc5e1371e18294060b13722395639f25961b238 + +# Alligator Energy (AGE) + +**Brief History** + +Alligator Energy is a project development and exploration group with uranium projects across South Australia, Northern Territory and a “Ni-Co-Cu-Au-GEs” project in Italy. The Samphire Uranium project in South Australia contains 47Mlb of inferred uranium in two deposits. Alligator Rivers in the Northern Territory contain multiple uranium targets in a well-defined region. Lastly, an EM survey has been conducted across the Big Lake Uranium prospect with drilling planned for H1 2022. + +**Key Activities Last 6-12 Months** + +* Ground magnetics and passive seismic surveys at Blackbush (Sampire project) +* Samphire Project Drilling and testwork approval obtained +* Drilling contractors confirmed to undertake drilling activities in early November for Blackpush (Samphire) +* Completion of airborne EM at Big Lake Uranium with results received, interpretation underway +* Completion of acquisition of EL adjacent to the plumbush deposit, (samphire project) +* Work program approved for geophysics and drilling at Narbarlek North, now planned for early dry 2022 (Alligators rivers) +* Share placement completed, raising a net $10.7M +* Raised an additional $11m in total to fund environmental base-line study recommencement, expand future planned field leach trial with an IX pilot plant, and increase proportion of core drilling +* Geoff Chapman (geologist and BD executive) appointed Samphire Project Manager for the immediate drilling, sampling, extraction testwork, mineral resource estimate update and scoping study + +**Potential Catalysts and Forecast Activities** + +* Drilling results from Blackbush (Samphire Project) +* IP survey and ground gravity updates from Alligator Rivers Uranium province +* Interpretation from Airborne EM at Big Lake Uranium tenement + * If interpretation is good, can expect drilling in H1 2022 +* Potential triple ETF entry in H1 2022 +* Geophysics program results from Piedmont Project, Northern italy + +https://preview.redd.it/1uossomy1jy71.png?width=661&format=png&auto=webp&s=b2f5b8c69713154a9aeecd519fdfac6395163597 + +[AGY Uranium Exploration Projects](https://preview.redd.it/c39uohy02jy71.png?width=602&format=png&auto=webp&s=14d560bb286f26fa4e405248e69727e6964d2bd5) + + + +# Uranium/Nuclear ETFs - ASX Companies + +For the u/ASX_Bets crowd here, most of us don’t know what an ETF is, except that we make fun of u/AusFinance for frothing over their 6% returns. But for the uranium market, ETFs are a very important contributor to some of your asx equity gains. + +An ETF or exchange traded fund works by holding a portfolio of assets (stocks, bonds, physical commodities, funds) that are usually tracked to an index. The portfolio will hold x% of stock AAA and y% of stock BBB and z% of the commodity for a total weighting up to 100% of tracked assets. + +* ^(When the uranium price increases, investors pile into the nuclear/uranium ETFs. If the ETFs trade above their Net Asset Value (NAV) for a period of time they are obliged to buy up additional individual stocks and assets to curve the NAV to fund value.) +* ^(The two major uranium ETFs are URA and URNM and comprise mostly of US/Canadian stocks and funds as well as Kazataprom and Paladin. But as of February-2021 a number of small ASX uranium stocks were included and added to the “buying list”. This is called rebalancing and involves stocks being added (or removed) and changes in % allocations.) +* ^(The ETFs account for significant fund flows into the ASX uranium equities as the whole market is still so small. URA “rebalances” twice per year, usually on the last day of January and July, where URNM can rebalance up to four times or quarterly throughout the year.) + +**Uranium/Nuclear ETFs and the ASX holdings** + +| **The Global X Uranium ETF** (ARCA: URA) | PDN, BOE, BMN, DYL, PEN, LOT, VMY, GGG | +|:-|:-| +| **North Shore Global Uranium Mining ETF** (ARCA: URNM) | PDN, BOE, BMN, DYL, LOT, PEN, VMY, TOE | +| **Horizons Global Uranium Index ETF** (TSX: HURA) |DYL, PEN, PDN, BMN, TOE, BOE, LOT, VMY | +| **VanEck Vectors Uranium + Nuclear Energy ETF** (ARCA: NLR) |PDN| + +Inclusions in ETFs are mostly based on market cap being over a certain value for a period of time and a few other factors. It can be worth looking into the criteria and who is not yet included in an ETF and when/what opportunities might be coming up ;) \*cough \* January 2022 \* Cough. + +For more info on [Uranium ETFs](https://www.reddit.com/r/ASX_Bets/comments/l2bbzh/uranium_etfs_and_the_solactive_global_uranium/) see this post and for [past rebalancing see this post here](https://www.reddit.com/r/ASX_Bets/comments/lbfwwj/global_x_uranium_nuclear_etf_nyseura_is_buying_us/). + + + +**Punt’s Rocket Rating** + +^(Disclaimer: This is NOT financial advice. These are my personal and subjective opinions. Rating is based on a number of factors; some mathematical and financially related, while some are based on opinions of management and projects. These ratings change overtime as company value and progress changes.) + +The rating is out of 5x 🚀. This is not an anticipated number of “x” returns but a rating of what makes up good further potential value return and strong uranium company fundamentals : good management with commodity and company leadership experience, an attractive and achievable project, solid financials, time-frame and upside potential. + +[Punt's Rocket Rating - Nov-21 \*MC and Current price are of 9th Nov 21 ](https://preview.redd.it/3gxqu8683jy71.png?width=688&format=png&auto=webp&s=1c32c4b9b9174db636c04f4ee72d0cf6810e8294) + + May your portfolio radiate green in glowing gains and you be showered in radioactive tendies ☢️🐂📈 +Yesterday, it happened. Despite being a highly technical person who's very aware of scams in general, I fell for one. I got an email from "Royal Mail" saying I needed to pay a customs fee on an incoming parcel. I've spotted probably thousands of scam emails before and consider myself generally aware, but yesterday I was just distracted and unfortunately - very rarely for me - I had just ordered something from abroad that was due to arrive imminently, so it was bad timing. + +I filled in my personal details, card details *and* bank details (Wtf, I even thought it was weird at the time because nothing would ever need these both) and sent them to some nasty stranger. Immediately after submitting the form I knew I'd fucked up. I froze and cancelled my card (easy, thanks Monzo), submitted to a report to action fraud and registered with CIFAS. Is there anything else I should do? + +It was a stupid mistake, but I'm not going to beat myself up. Getting bombarded with hundreds and thousands of similar messages, even the most aware person can just have one bad day where they don't pay enough attention. The important thing is to respond quickly and decisively and do the best you can to protect yourself against any aftermath. And hopefully that's what you lovely people can help me do. + +Thanks! +The US investing options in India are still evolving. Here are my experiences with the options that I am currently using: + +Note: Do not worry about exchange rate and taxes. The amount of money that you will make in US will make forex cost and taxes look like peanuts. They are simply the cost of doing business. Don't lose the big stuff while worrying about small things. + +1. Vested. My first broker for US investing. Completely free for transactions, no AMC etc. Vested makes money on exchange rate spread. + +Pros: Easy process, online transfer through ICICI, HDFC. + +Cons: Very few stocks and ETFs. They simply don't have most of the tickers that I am looking for investing and most of the time it's a big disadvantage as you lose on opportunity. Also, no cash management option as of now. + + +2. Stockal. My second broker. Everything similar to Vested with some differences. + +Pros: More tickers available than Vested, but still not enough. The ones I am looking for are still not available on Stockal. It's also planning to bring Cash Management. It will give you an international debit card which you can use anywhere in the world. It's really good thing. + +3. IND Money. My third broker. Similar to Vested and Stockal. + +Pros: I have seen the maximum number of tickers on this platform. More than both Stockal and Vested. If I open an account today, this will be my first choice. + +Cons: Even this doesn't offer all the tickers, but enough for making investing worthwhile. Also, no cash management as of yet. + +All the three platforms have tied up with DriveWealth and thus money transfer is exactly the same. I have seen my transfers through ICICI reflect in the trading account within as less as 5 hours and maximum 2 working days. + + +However, I was still not satisfied with these options. Finally, I opened a Charles Schwab International Account. I see there are lot of misinformation going on here regarding Charles Schwab, so let me correct them. + +1. Trading on Charles Schwab is free. There are no transactional charges. Same like Vested or Stockal. No AMC either. + +2. Minimum account opening requirement of $25,000 is just indicative. It's not enforced. + +3. It's a full service broker, so all the tickers that exist in the market are available for you. + +4. Account opening took two hours, approval withing 2 days. + +5. You send money exactly like you do for Vested and Stockal. Add a beneficiary in ICICI Money to World platform and then send. + +6. Cash management: Charles schwab will give you an international debit card which you can use anywhere in the world. Basically, you can treat your spare cash in the trading account as a savings account. + +TL;DR: If you want an Indian platform, use Stockal or IND Money. If you are too ambitious, just go for Charles Schwab and be set for life. It will be with you forever, wherever you go. + + +Edit: Haven't used but Winvesta looks like a good option. It has most of the tickers that I was looking for. +https://www.politico.com/news/2021/07/31/eviction-moratorium-rental-assistance-biden-501917 + + +I was wondering if any of you are starting the eviction process now that the Moratorium is over. +Looking for some insight into my current relationship. + +I'm not FAT or FIRE. I make around 150k/year and I’m a father. + +I grew up dirt poor, government housing, food stamps, etc etc + +My career is in a very good place but I think I'm close to hitting the ceiling unless I move into Director level roles. + +Now about my question. + +I met someone and we've fallen in love and all that jazz. + +Thing is, I can slowly start to tell that she's used to a certain lifestyle and her friends and family have made it evident to me that they're of a much higher social class than me. They didn't make it obvious but you can start seeing the signs. Multiple homes in the most expensive zip codes, trips around the world, the events they’re invited to, etc + +My girlfriend seems very down to earth and humble but there are signs of stealth wealth. + +To put it frankly, I'm starting to feel quite insecure at this point and I know therapy might be in order to make sure it doesn't sabotage what I have. + +She is quite traditional in the sense that she does not want to be paying for things we do, and I share the same views tbh so I end up paying for the things we do. + +I'm starting to notice that I can't afford the things she normally does. She has never made me feel this way at all and shows genuine interest and excitement doing whatever with me. So we end up doing "cheaper" versions I guess and from what I can tell, it seems completely fine with her and it doesn't phase her at all. + +But I'm finding myself trying to push myself to do more every time now. + +We've discussed finances and she's made it clear that she has a sizeable savings and is completely fine with my financial situation and reassures me it won't be an issue as we keep progressing towards marriage. + +I have child support payments and still spend a lot of time with my kids and take them on trips, but now I feel like money's tight trying to juggle everyone in my life. + +Seeing all the things her friends with significant others from similar social classes as them and the activities/trips they partake in, meanwhile I can't match anywhere close to that at least not for now, it does make me feel insecure tbh and it’s just growing stronger the deeper we get into this relationship. + +I find myself having to adjust her expectations and basically it feels like doing less because of my finances. + +I guess, it's hard to formulate my thoughts into one question, so if I had to ask one question it would be... + +How do I not fuck this up due to my own insecurities? +In the last two hundred years, we experienced a decline in poverty and an enhancement of our overall living conditions. The majority of these improvements are a result of universal education, technological improvements and improved models of governance. However, across borders and through different layers of our respective cultures, not all participants in our global society are affected equally. While some of us thrive, our consumption-based economies lead to the destruction of our natural resources and biodiversity. Our fragile debt-based financial systems, aggravated by corruption and bad governance, bring forward economic cycles which involve bubbles and their bursts. A currently relevant example is the hyperinflation striking Venezuela (2018). Many other examples can be given on the symptoms of inadequate governance models lacking focus on the future turning the weaker individuals of our society into victims. With the slow realisation of said problems, enabled by the advancements of communication technology, a series of small and large revolts have taken place throughout the world. In some instances, they overthrew countries and proved that with the help of modern technology, people are more powerful than any state, religion or political system. It is in these events that the first stages of a global collaborative movement bringing forward change can be recognized, a movement in which the Government Network is taking part. The following are examples of an impressive global collaborative movement: + +● 2010 - 2014: “Arab Spring” started in Egypt and spread throughout the region + +● 2011 - 2012: “Occupy” started in the United States and spread worldwide + +● 2012 - 2012: “May Day” protests across the United States and Asia + +● 2013 - 2013: “Gezi Park” regional protests Turkey + +● 2014 - 2014: “Umbrella Movement” in Hong Kong + +● 2015 - 2018: “Black Lives Matter” in the United States + +● 2016 - 2018: “Syrian Refugee Crisis” global support + + ● 2017 - 2018: “Iranian Uprising” global protests Coincidently with the advent of political change, the world is experiencing the rise of a new type of currency, namely, virtual-, cryptocurrency. Cryptocurrencies find their origin in 2009, after Satoshi Nakamoto's released his whitepaper on Bitcoin, and with it, the invention of distributed ledger technology. In less than a decade, the technology led to the creation of thousands of projects and applications. The market capitalization of all cryptocurrencies combined briefly touched $ 800 Billion at the beginning of 2018, countries have taken steps to integrate crypto in their respective legal frameworks and accept their integration into the economy. Cryptocurrencies and the underlying distributed ledger technology play a key role in the Government Network, enabling its formation. +Traditional financial institution taught us some values like saving and earning money but they have some certain disadvantages such as High transfer fee which prevent the true nature of micro financing, also the services are limited to a particular location and it don't cater for modern families. + +The solution is Pigzbe, a digital piggy-wallet supported by Wollo, a decentralised cryptocurrency for families and children aged 6 and up. Enabled by the Wollo Token, the Pigzbe experience (Token + App) is designed to replace physical money normally stored in a traditional piggy-bank with a digital alternative that caters to modern globalised families. + +Pigzbe is reinventing the piggy-bank by transforming it into a piggy-wallet. Think of Pigzbe as a tool to support parents in teaching children the principles of earning, saving and managing money in an exciting and non-threatening way, while providing them with an entry point into the world of cryptocurrencies. + +https://www.pigzbe.com/ + +All the DD I do (DD I do, haha) always leads me back to Vanguard - lowest cost, higher dividends, and have proven the test of time. Why even bother having 10 etfs in one fund? Seems time consuming - +I keep hearing about this and wondering if its true or false. They claim that rich countries buy resources from developing countries and those rich countries manufacture. This manufactured goods are significantly more expensive than the resources they bought from thus they get more money than those poorer countries. While the rich countries wealth grows very fast the poor countries grow at a slow rate since they dont manufacture. Is this true? Another question I am gonna add. What can these poorer or developing countries do to get richer? +My dad recently reached out to me asking my thoughts about establishing a trust for my younger siblings. He asked me what would be a reasonable amount to provide, and I told him I thought that enough to cover college, emergency medical expenses, and maybe a down payment would be appropriate (he's very cautious about spoiling his kids). He was open to that idea, but he also said he also thinks of it as a kind of insurance so that they won't be destitute. + +After having that conversation, he reached out to me to let me know that he's establishing a trust for my (much younger--still in elementary school) siblings, but that he wasn't sure it made sense to make one for me, given that I'm already a reasonably responsible adult and making good money at my tech job, and thus he's not so worried about me winding up on the streets. But he also said I might still like to have a trust fund because it carries various legal protections (for example, it's beyond creditors, can't be taken away in case of divorce, etc.). He said he'd like to know my thoughts. + +I'm not sure how to respond. Obviously, I wouldn't mind having the additional financial support, especially because I worry about being able to afford a house someday. I make reasonably good money at my tech job (especially for someone in their 20s), but things like housing and education for potential future children are still so expensive (especially in tech hubs). + +Even though my dad is wealthy, I've basically never asked him for money except to buy things like textbooks and school supplies. He was very careful not to spoil me growing up, and stopped giving me spending money the minute I was of legal working age. I want to respect his philosophy with regard to money and how he shares it, so I don't know how to respond given that this is the first time he's ever offered it to me like this. It feels like such an open-ended question: "Not sure if establishing a trust for you makes sense, since you've already turned out well, but would you want one anyway?" + +How would you respond in this situation? If you have more in common with my dad in this situation, how would you like your child to approach the conversation? + +**TL;DR** Dad is thinking of establishing a trust for me but says he isn't sure and has asked me for my thoughts. Not sure how to respond. +[https://www.cnbc.com/2019/01/09/shutdown-highlights-that-4-in-5-us-workers-live-paycheck-to-paycheck.html](https://www.cnbc.com/2019/01/09/shutdown-highlights-that-4-in-5-us-workers-live-paycheck-to-paycheck.html) + +Government workers are far from alone in feeling stressed about not getting paid. Nearly 80 percent of American workers (78 percent) say they’re living paycheck to paycheck, according to a [2017 report by employment website CareerBuilder](http://press.careerbuilder.com/2017-08-24-Living-Paycheck-to-Paycheck-is-a-Way-of-Life-for-Majority-of-U-S-Workers-According-to-New-CareerBuilder-Survey). Women are particularly vulnerable: 81 percent of them report living paycheck to paycheck, compared with 75 percent of men. + +It's strange as there is Fed data that shows different story + + [https://www.cnbc.com/2019/07/20/heres-why-so-many-americans-cant-handle-a-400-unexpected-expense.html](https://www.cnbc.com/2019/07/20/heres-why-so-many-americans-cant-handle-a-400-unexpected-expense.html) + +Some 40% of Americans would struggle to come up with $400 for an unexpected expense. + +40%, not 80% +My wife, I lover her to death, but when I talk to her about stocks, options, and investing, it's like I gave her a shot of Jack Daniels and an Ambien. It puts her right to sleep. It's like I'm speaking a foreign language. She's not a stupid person, far from it. I won't even talk to her about Theta strategies. It might put her into a coma. Do any of you have a similar experience with your spouses or significant others ? By the way, thank you to all of you people for unselfishly sharing your ideas and experiences. I have learned a lot. I appreciate it. +Hi, I'm currently living & working in Berlin, Germany. Whenever I go to the surrounding areas of Berlin or even inside Berlin but out of the city main ring. I see so many posh neighborhoods, houses, cars, boats, yachts, etc. I wonder how come these many people can afford all of these luxuries? Certainly, not every one of them is a top business person or works a C-level job. + +Then what do so many people actually do to earn that much? I know this is a naive question, but sometimes I really wonder. +Wouldn't It be better for companies to invest capital on the product or service they are selling instead of spending capital on marketing campaigns? How do we know they work in the first place? +So, I recently learned that banks don't need to have the money on hand to lend it. This seemed reasonable to me given that they had reasonable confidence in future payments being able to cover the cost of the new loans, but then I learned that banks will literally create money in this process. Specifically I'm talking about Australia and USA here. + +So, when a banks lends let's say 300k out and receives 360k back, does this mean that the bank profited not 60k (the difference) but rather 360k because the 300k never existed in the first place? + +As an additional side note, what are the consequences of this 'new money' if this is true. This seems like it would be a driver of inflation to me. + +Thanks for the responses. +So you know those 'worthless' 0.5$ 148,426 puts that are expiring on July 16? I may know exactly who owns those: + +https://i.imgur.com/DSeM04L.png + +So we know our friend Shitadel has 3,271,400 shares in puts on GME or **32714** in option contracts from their latest 13F filing: + +https://i.imgur.com/elgrTIK.png + + +We also know that Susquehanna has 6,151,100 shares in puts on GME or **61511** in option contracts from their latest 13F filing: + +https://i.imgur.com/NzoM02s.png + +Hmm....so at this point we have 32714 + 61511 = 94225 in option contracts. + +Now I was wondering what our old friend was up to before they hid their 13F filings: + +https://preview.redd.it/bqv61hbyj8261.png?width=1536&format=png&auto=webp&s=d1c222b8b146ae8a94fabe5b01eade4a42b33e03 + +MELVIN CAPITAL with 5,400,000 in GME puts or **54000** in option contracts for **July 16th.** + +Now at this point I was like: "no way this matches exactly or close by". + +32714 + 61511 + 54000 = **148,225** in OPTION CONTRACTS COMBINED. + +Remember how those motherfuckers said they closed their public put positions? + +https://markets.businessinsider.com/news/stocks/melvin-capital-closes-out-public-short-positions-after-gamestop-losses-2021-5-1030447490 + +EDIT: +To clarify - Melvin's 13F with 15$ strike is the last one from last year that revealed their position. + +They can roll them down and change the price: + +https://www.investopedia.com/terms/r/rolldown.asp + +EDIT2: +Just so everybody knows - this might not have anything to do with the short positions. We can only speculate on those because they aren't public. But yes we can assume since they still have shitload of puts they also have massive short positions. +I am a middle school teacher, and we are wrapping up the year with a personal finance unit. I have heard a lot of people (by which I mean other people I work with) say that kids don't understand this topic. That is so false. + +I asked my kids a riddle. How do you take $5,000 and turn it into $500,000, without adding anything to it? I got some amusing answers (including "copy it and print more!"). But we eventually made our way to investing. After explaining about stocks, and then the S&P 500, I started to see some lightbulbs go off. My favorite comments of the day that cropped up in almost every class were, "is this legal...?" and "so wait, why doesn't everyone do this?" + +Some of my 8th graders are getting jobs this summer. A few of them made comments like "I was going to get a new \[pair of shoes, phone, tech device\], but maybe I can hold off for a little..." so the seeds have been planted. I know they're 13-14. I know they have like, no impulse control. I know that first paycheck will probably go towards funyons and a new pair of airpod. But at least this info is somewhere in their minds, and they have seen the impressive-looking graphs. +**Let's spread the word outside reddit!** + +The world must know the truth and not the lies from MSM which by the way are an arm of Wallstreet hedge funds. + +If you are new and not aware of what is happening with Gamestop or the whole market, please watch these videos to get started: + +&#x200B; + +**The problem of stock Market** + +Jon Stewart explaing the shaddy business model of wall street. + +[https://www.youtube.com/watch?v=bP74RBTE8kI](https://www.youtube.com/watch?v=bP74RBTE8kI) (if you don't have time go to 6:50) + +&#x200B; + +**Gamestop - A Long Story Short** + +An overview of what is happening with GME + +[https://www.youtube.com/watch?v=JGWN1-I8Kac&feature=emb\_imp\_woyt](https://www.youtube.com/watch?v=JGWN1-I8Kac&feature=emb_imp_woyt) + +&#x200B; + +If you are interested to know more, please come visite [https://www.reddit.com/r/Superstonk/](https://www.reddit.com/r/Superstonk/) to read more, you are welcome! + +&#x200B; + +EDIT: Perhaps we don't know exactly why the price went up 30% today. But **we DO know** that they are still shorted and must cover!**We do know** all the fuckery they do to manipulate prices and stock market. **We do know** the price is wrong! **We do know** that MSM manipulate news for those not aware. **This is enough to make people buy and hold!** + +Thank you all for the awards. +[This is article by economist Noah Smith](https://www.sltrib.com/opinion/commentary/2018/05/21/noah-smith-homelessness-is-a-tragedy-the-us-can-afford-to-fix) + +Claim: +About 3.5 million Americans will experience homelessness at some point in time, but only about a half-million are homeless at any given time, and roughly 87,000 of these are chronically homeless. By some estimates, housing a homeless person and providing them with a caseworker to see to their needs costs about $10,000 a year. That means for less than a billion dollars a year, chronic homelessness could be ended in the U.S. If temporarily homeless people were housed in temporary housing, and if each temporary residence were occupied half the time, homelessness of all kinds could be eliminated for about $10 billion a year. That’s less than a seventh of what the government spends on food stamps. +I wanted to start a discussion on a common misunderstanding of thetagang. The main thing that people are missing in this subreddit is how important volatility is to the game we play. You aren't going to suddenly make money because you've swapped teams and are selling the positions that you lost money on before. It isn't that easy. That isn't the point. + +**This is the game we are playing:** + +We can either + +1) Sell an option that has a 90% chance of making $1.11 + +or + +2) Buy an option that has a 10% chance of making $10 + +In both cases, if you do this ten times you end up with $10. Most new traders are focusing on the probability of profit. They like that juicy 90%. Who doesn't want a 90% chance to win?! But if options are priced perfectly related to their chances of success as they are in this case above, there is no game to play. You are just flipping coins. Over a large sample size, you end up making your $10 every 10 plays no matter which side you are playing. + +**So where is the edge?** + +The rub is that the prices are based on **volatility**. The BSM model that options are priced based on gives a solid explanation of why, but I don't want to get into the weeds. In summary, volatility is the dependent variable. (We backsolve for it after supply/demand decides what an option is worth) Theta is independent. It is known. It is priced in. Theta is not your edge. Very often I see comments about how traders are winning now that they have an advantage due to theta decay. This is not the case. Theta is just the mechanism by which your option loses value. We don't care about that. We care about **what the value is in the first place.** + +This value (aka the price) is set based on how likely it is that an option expires in the money. How much extrinsic value it has. How much IMPLIED VOLATILITY it has. + +**Ok, so IV is the part of the option price that gives me an edge? How is that?** + +Because "implied" volatility is just that. It's an educated guess. And we often guess wrong. Over the course of options history, we have been overestimating how much the underlying will swing over a given period of time. That is, we have accredited MORE implied volatility to options than their actual realized volatility ended up being. The underlyings didn't move as much as we thought on the whole since options were invented. + +So if an option is priced based on what we think the volatility will be and then the volatility ended up being less... Well dang, the option was overpriced. ***Selling products for more than they are worth is awesome and buying products for more than they are worth sucks.*** This is why selling options over time has been more profitable! + +**Back to our example** + +In the above example, those percentages are what the market THOUGHT would happen. But in reality, it ended up that selling option 1) had an 93% chance of making 1.11 and buying option 2) had a 7% chance of making $10. To make it clearer, I illustrated below + +1) Sell an option that has a ~~90%~~ 93% chance of making $1.11 + +or + +2) Buy an option that has a ~~10%~~ 7% chance of making $10 + +**Thus, the seller ends up on top.** + +This is why volatility indexes are important. Pay attention to IVR and IV%ile to check your edge! Volatility is actually relatively low overall right now. This means that we could be underestimating how much the markets will move. I am not making any predictions of if that is true, but I will go through our example as if it were. If this were the case, our implied volatility is actually LESS than the real volatility. Now that means our options are actually all underpriced. Buying underpriced things is way better than selling underpriced things obviously so that would make this a buyer's market. Now, + +1) Sell an option that has a ~~90%~~ 87% chance of making $1.11 + +or + +2) Buy an option that has a ~~10%~~ 13% chance of making $10 + +**And the options buyer gets the edge!** + +The important take away is that YES the probability of winning is still absolutely in the hands of those selling options. 87% is way greater than 13%. But on the whole, if you made thousands of these trades, the buyer's of options would actually win in this scenario. They have the edge. + +Can you still sell premium when IV<realized volatility. SURE! And you'll still be right the vast majority of the time. However, you could have been using the capital to buy options instead and though you would still be wrong the vast majority of the time... your winners would more than make up for your losers because of the error in valuation. + +**TLDR: Volatility is where our bread is buttered. Not theta. Don't let our misnomer confuse you :)** + +(This was modified from a comment I made a couple weeks back. I kept seeing the same misunderstanding so wanted to post it as its own thread to allow for more discussion for both myself and everyone else to learn from.) + +Happy to take any questions or challenges to my understanding! + +I'm still learning all of this too. I've only really been dedicated to this for a couple months, but I felt like I should share what I learned here to give back to the forum community. I don't work in finance, I'm not a financial advisor, this is just for fun. +Hi all, + +&#x200B; + +I'm looking at some companies and one has a market cap of $14B usd, cash on hand of $10.4b and debt of $4B. I'm a bit puzzled why a company would acquire such amounts of debt when they can just pay it off and fund it with cash on hand. It's a Japanese stock so inflation has been flat mostly for the last ten-twenty years so it hasn't been evaporating from the balance sheet but still, I don't know why they'd finance with debt instead of cash. + +Can someone help me out? + +Thanks and kind regards +Is it safe to invest in the current climate? I did start with some ETFs but moved to gold like 0.005% after I saw the P/E ratio and Buffet indicator. The rest are tied to government backed bonds at 5.5% p.a. Investing this year in US stock ETFs will get you more than 20% ytd. A handsome return. I see some stock prices which make no sense. Lucid motors having more market value than Ford. I don't understand how a new company selling less than 1000 vehicles can be more valuable than Ford which sells a F-pickup every 35 seconds. + +Is there something I don't know? What am I missing out? Or I can am freaking out for no apparent reason? + + +Edit 1: Thanks all for the feedback. I guess it is not that big of a deal. Will invest in stages rather than putting the whole lot. (maybe after a crash I will do that 👌). + +Edit 2: DCA it is +After answering their questions, they claim that I took care of my checkbook improperly and that is how the information was compromised. However, they authorized a check that is vastly different than my checks (not even the same routing #) and that has a signature that looks nothing like mine. Doesn't this seems like something they should have a responsibility to protect me against? What else am I paying them a fee every month for? + +Edit: Also they said another reason they can't refund the money is that I have shopped at this particular grocery store chain in the past. They refuse to even look into whichm branch the check was used at. They just immediately rejected my claim within minutes on the phone. + +Edit 2: Thanks so much everyone! I'll be filing a police report and then going into a branch to get this taken care of. I will update later today when I know something else. + +Edit 3: A police report has been filed and we are waiting on an investigator to follow up with us on that. We visited a Chase branch and the banker spent 2+ hours with dealing with the fraud department (as of now the case is reopened but no promises yet) and also moving the money to a new account). Not sure if we will stay with Chase, but the very patient and kind banker has helped ease my nerves and I'm okay with waiting a bit to see what the fraud department does. I will update again when I know more from the fraud department or the police investigator. We are also going to be filing an identity theft report with the ftc when we arrive home. Thank you to everyone who has helped me out so far. The information has been super invaluable and you all have received Reddit silver from me. + +Edit 4. Still waiting to hear back from Chase, but we received a letter from the police department saying they won't investigate due to little evidence. They must have sent it immediately for the snail mail to reach us that fast. I tweeted out to the grocery chain with the information I had so they may be able to provide any more details to the police and have the investigation reopened. + +Final Update: Chase decided to refund the money. Only took like weeks of fighting with them haha. Turns out the grocery store is also doing their own investigation into the issue. We will see what they say, but I don't expect much. Thank you to everyone involved here who gave such wonderful advice!!! +A few weeks ago, Zillow offered me $30,000 above market value (in writing) for my house. My house was listed on the MLS and they could’ve offered the sales price if they wanted, but they offered $30,000 over that. A neighbor without a realtor was offered and accepted $75,000 (20%) over market value. I don’t know if the purpose is to put some money into assets to avoid paying taxes, to meet a quota, or simply to manipulate the real estate market. Just thought I’d post this. I used to own Zillow stock but sold it in May. + +Edit: For clarification, based on recent comparable sales, I listed my house for sale at $350k, another neighbor behind us with similar square footage for $345k. Then the neighbor across the street with similar square footage (but a lot that’s a little bigger) said she had sold to Zillow for $430k. I contacted Z and they offered me $380k. It’s true that housing market is crazy here and houses are selling above list price in many instances. I just don’t understand why Z offered so much more than market value based on recent sales when the public isn’t offering that much. +My mom passed away last year. It really sucks she retired at age 62, and got to “enjoy” retirement for approximately two months. So as a result, I inherited a portion of her retirement. + +I’m 41, married with a 4 year old. Our household income is just over $200k/year, we each make about $100k. We have no debt except for our house, and $350k won’t quite pay off the mortgage anyhow. + +I put it in the market for now, it’s hanging out in a mix of stock ETFs, maybe 60% domestic, 20% foreign, and 20% other that looked interesting (real estate, health care, etc). I think the market is just kind of sideways right now, but if anything I think it’s gone down a bit since February. But that’s ok, we can be in it for the long haul. + +I can’t help but feel like there is something else I should do with this? How much is ok to enjoy? I keep trying to think about my mom’s values and how to honor her. We made a $10,000 donation, and planned a $5,000 vacation in the summer when things hopefully get back to normal. She worked very hard her whole life for this. She told me and my brother to “work hard, but have fun,” Which she finished with, “always make sure to have fun.” + +Any suggestions on something I might be missing? +This is like an OT, but interesting to know in my opinion. + +&#x200B; + + In the Italian pension system, pensions are paid thanks to those who work today and pay contributions. Whoever pays contributions today gets the future right to get a pension in turn. But if there aren't enough workers in the future, there won't be enough money to pay off these 'debts'. This creates a financial imbalance. + + At present, the incomes are lower than the outgoings and a hole is created that must be filled by the state. Thus we speak of a **social security deficit**. + + The only way to repair the deficit would be to raise the retirement age (already very high on average), raise taxes and (sadly) hope that retired people live shortly. + +&#x200B; + +Why this is a Ponzi scheme? + +* absence of product and promise of earnings (INPS promises us the pension but does not guarantee it) +* new ones paying old +* only one promoter or company +* unclear information + +&#x200B; + + Certainly at the moment the INPS for structure, for functioning cannot last over time. The working age population continues to decline and soon there will be not enough people to pay pensions. Even more so that the growing aging of the population, combined with the low birth rate, makes the entire Ponzi-Inps system unsustainable. + + To date, the only possible solution appears to be the need to completely restructure the entire pension system. +I'm new to economics, just wanted to ask who was correct in their ideas of the boom and bust cycles Hayek or Keynes? Was only one correct? We're both correct in ways? Please explain! Thanks!!!!! +**Let's spread the word outside reddit!** + +The world must know the truth and not the lies from MSM which by the way are an arm of Wallstreet hedge funds. + +If you are new and not aware of what is happening with Gamestop or the whole market, please watch these videos to get started: + +&#x200B; + +**The problem of stock Market** + +Jon Stewart explaing the shaddy business model of wall street. + +[https://www.youtube.com/watch?v=bP74RBTE8kI](https://www.youtube.com/watch?v=bP74RBTE8kI) (if you don't have time go to 6:50) + +&#x200B; + +**Gamestop - A Long Story Short** + +An overview of what is happening with GME + +[https://www.youtube.com/watch?v=JGWN1-I8Kac&feature=emb\_imp\_woyt](https://www.youtube.com/watch?v=JGWN1-I8Kac&feature=emb_imp_woyt) + +&#x200B; + +If you are interested to know more, please come visite [https://www.reddit.com/r/Superstonk/](https://www.reddit.com/r/Superstonk/) to read more, you are welcome! + +&#x200B; + +EDIT: Perhaps we don't know exactly why the price went up 30% today. But **we DO know** that they are still shorted and must cover!**We do know** all the fuckery they do to manipulate prices and stock market. **We do know** the price is wrong! **We do know** that MSM manipulate news for those not aware. **This is enough to make people buy and hold!** + +Thank you all for the awards. +source: [https://twitter.com/BaFin\_Bund/status/1556561133514985473?t=4y\_fonxP6e8zgCX2aOT0AA&s=19](https://twitter.com/BaFin_Bund/status/1556561133514985473?t=4y_fonxP6e8zgCX2aOT0AA&s=19) + +&#x200B; + +Für die Belieferung der jungen Aktien ist – ob Aktiensplit oder Stockdividende – die tatsächliche Einbuchung bei der jeweiligen Lagerstelle erforderlich. Ausländische Lagerstellen haben deutschen depotführenden Banken bestätigt, dass die Aktien aus der Kapitalmaßnahme eingeliefert wurden. Auch bei einem Aktiensplit kann die depotführende Bank nicht künstlich den Bestand vermehren. Die depotführende Bank in Deutschland wartet die Einbuchungsanzeige ihrer Lagerstelle ab und bucht die Aktien dann in die Kundendepots. Die BaFin kann nur den deutschen Markt und die Dienstleister in Deutschland beaufsichtigen. Auf ausschließlich in den USA stattfindende Geschäftsvorfälle kann die BaFin keinen Einfluss nehmen. Wie in unserer Meldung erwähnt, kann b. einigen depotführenden Banken eine rein technische Aus- und Wiedereinbuchung der jungen Aktien erforderlich sein, weil ein Datenprovider die Kapitalmaßnahme kurzfristig als Stockdividende und dann wieder als Aktiensplit behandelt hat. Die dafür erforderliche Neuabrechnung dürfte in wenigen Tagen umgesetzt sein, kann aber auch in mehrtägigeren Schritten erfolgen. Für konkrete Fragen ist Ihre Bank der direkte Ansprechpartner. + +&#x200B; + +[DeepL.com](https://DeepL.com) translation: + +For the delivery of the new shares - whether stock split or stock dividend - the actual posting at the respective depository is required. Foreign depositories have confirmed to German custodian banks that the shares from the corporate action have been deposited. Even in the event of a stock split, the depositary bank cannot artificially increase the stock. The custodian bank in Germany waits for the posting notification from its depository bank and then posts the shares to the customer securities accounts. BaFin can only supervise the German market and service providers in Germany. BaFin cannot influence business transactions that take place exclusively in the United States. As mentioned in our announcement, b. some custodian banks may require a purely technical derecognition and rebooking of the new shares because a data provider treated the corporate action as a stock dividend for a short period of time and then again as a stock split. The rebooking required for this should be implemented in a few days, but may also take place in steps lasting several days. For specific questions, your bank is the direct contact. + +&#x200B; + +Translated with [www.DeepL.com/Translator](https://www.DeepL.com/Translator) (free version) +Hello together, I don't know if this is the right subreddit, but maybe you can help me (or point me somewhere): + +So I've gotten a Bachelor's degree last year in Economics and started a Masters. + +But I fucking hate it. What used to be a general dislike turned into full on hatred once the pressure of having no degree if I fuck up was gone. + +What do I hate about it? +Well, mostly the fact that all the jobs I could get (as far as I know) involve me sitting in front of a screen all day. Analysing stuff I don't care about to make money I don't need (well, I need money, but not that much). I used to be a lot more career minded, had some student jobs and internships at good companies in consulting (Big 4), banking, and technology. Hated it all. And looking into these people's faces - most of them didn't seem to be happy. Additionally, some experiences I had made me a lot more spiritual and to some extent dislike material pursuits. + +I don't know what to do. I'm 26 now, in my second semester. I'm paying my bills with my part-time job, but I don't plan to stay in Customer Service forever. + +Honestly, I liked doing research (that's what got my grades up to an good or acceptable level). But I don't want to slave away getting a PhD and being stuck in the ivory tower. + +I was thinking about staying in the master's and either get an internship while I'm still in it, or drop out and starting to work at some NGO (think more Oxfam and less IMF), union or something similar. Doing tangible things to help everyday people. + +Has anybody experienced anything similar? +This short post is a bit like a crisis in investing philosophy in the current market. + +I've been investing for a number of years, though been getting more serious over the last 12-18 months. I followed the GameStop saga, the alternative coins rage, the SPAC bubble and now the green/ESG wave. I've come to the conclusion that good value investing should be boring. Finding solid, undervalued opportunities seems to be a forgotten thing in this market with seemingly more people chasing "it can go up by 10% by next week because the market is going up" attitude. + +Am I going mad in this market? Do you agree? + +&#x200B; + +Edit: getting a few comments about my point on GameStop ($GME). To be clear, I was lucky to be in GME in the summer when it was selling for less than net working capital. I sold out in the euphoria of January. My thesis for GME was initially a cigar butt value stock, then changed to turnaround after Ryan Cohen's intervention. Now I see it as a meme stock. +I think this could be an interesting subject for this sub. What is your one 'secret' weapon that you believe gives you an advantage in life? + +Mine is an early morning run while listening to an educational podcast/show. 30-60 minutes in the morning where I kill two birds with one stone; fitness and education. I feel like I am cheating life while doing it. + +I'm keen to hear from you all. Best of luck out there! + + +EDIT: + +A few folks have asked what my favourite podcasts/shows are. I like to listen to all sorts of subjects, but right now they are; Invest Like the Best, Sam Harris - Making Sense, The Economist - Checks & Balance and Freakonomics Radio. +My wife and I are in our early 30's and we have 2 young children. We both have fairly good jobs, but our combined income is probably around 75K a year. About 6 years ago we bought our first starter home for around 175K. It is not in the best neighborhood and both my wife and I have 45 minute commutes. The house itself is nice, (4 bedroom, 2 baths) but we would like to move closer to the city, putting us closer to our kids schools, family, friends, and shorten our commutes. The current value of our home on Zillow is around 350K. (not sure how accurate of an appraisal that is) + +We will be getting one of the most generous gifts in a couple months. My dad is planning to sell his company and will be giving us money to pay off our current mortgage. I would like to stay in our current home and begin actually saving some money. We currently have no savings and pretty much live pay check to pay check. + +However, my wife wants to move immediately. She wants to pay off the mortgage, sell the house, get our 350K (or however much we can) and move into a larger home that is around 500-600K. + +We both are pretty divided on this. I am fine moving closer to the city and finding a home that is close to 350K so we still don't have a mortgage, or at least a small one. However, the closer to the city, the more expensive the houses are. So the 350K in the city doesn't get us nearly as much house as we currently have. + +So I guess the question is, is it smarter to get out of debt? Or get a nicer/bigger house in a better area, but put ourselves right back in debt? + +edit: spelling +ChubbyFired about 2.5 years ago. Moved to the beach and have an awesome beachfront condo. Downsized from a massive house, gave away 95% of our belongings and live life with no baggage now. + +Find it interesting that with the means to have whatever I want, I want nothing. Even thinking about buying things stresses me out from the perspective of more stuff equals more problems and clutter in my life. + +How did that switch get flipped? I think it had something to do with coming to terms with all of the stuff we had accumulated along our lives that we had to get rid of when we downsized. The realization that all the things we owned actually provided negative value to us. +Whenever I've addressed this with a professor, friends and or co-workers, they look at me like I am crazy. Nobody seems to agree with me yet, at the same time, *nobody offers a rebuttal to suggest otherwise.* So, I'm here. + +Now, I understand the world markets are always (to some extent) in some kind of threat. However, when I consider the following below, I see **real consequences** coming forward in the coming months that could seriously destabilize the global market should it happen. + +Above all else that could be said, I really hope I am wrong. I don't want to be right for any of these concerns but at the same time, I'm looking to have a factual conversation about these concerns. I'm tired of people providing their opinion as if it is fact. + +That said, here are the main three concerns: + +1. **Evergrande -** The company falling by itself isn't an issue for the central bank of China. What IS an issue is the *sector falling as a result of Evergrande falling* and central bank having to take on all that debt. To put it bluntly, I have little faith in the Chinese central bank's ability to finance this amount of debt let without defaulting itself. Once that happens, the poison spreads to U.S. markets compounding the problem. +2. **U.S. Inflation -** Not only is inflation at record levels, but it's MOVING at record levels too. I can't see this market being sustainable for another year without the federal reserve increasing interest rates. The moment that happens, a mass exodus will happen and the markets will tank. I'm pretty sure this is what sparked the great depression and the 2008 financial crisis as well. +3. **U.S. Debt Ceiling -** If U.S. politicians can't figure it out by 3 Dec 2021, the U.S. will default on it's obligations. This will cause a serious conundrum for global markets. It's impact could spark a whole host of other issues that further the financial crisis. + +Let me know what you think! + +&#x200B; + +Edit: + +Cleaned up the post and grammar. +Most of the sleeper picks people post are already in the top 20 market caps, so they are established coins with room to grow, but you're unlikely to see a 1000% return like you would get with an actual sleeper. + +So what's everyone's sleeper picks for 2018? + +Mine are GVT and AION (both on Binance) + +EDIT: Add the exchanges you can get them on +**Let's spread the word outside reddit!** + +The world must know the truth and not the lies from MSM which by the way are an arm of Wallstreet hedge funds. + +If you are new and not aware of what is happening with Gamestop or the whole market, please watch these videos to get started: + +&#x200B; + +**The problem of stock Market** + +Jon Stewart explaing the shaddy business model of wall street. + +[https://www.youtube.com/watch?v=bP74RBTE8kI](https://www.youtube.com/watch?v=bP74RBTE8kI) (if you don't have time go to 6:50) + +&#x200B; + +**Gamestop - A Long Story Short** + +An overview of what is happening with GME + +[https://www.youtube.com/watch?v=JGWN1-I8Kac&feature=emb\_imp\_woyt](https://www.youtube.com/watch?v=JGWN1-I8Kac&feature=emb_imp_woyt) + +&#x200B; + +If you are interested to know more, please come visite [https://www.reddit.com/r/Superstonk/](https://www.reddit.com/r/Superstonk/) to read more, you are welcome! + +&#x200B; + +EDIT: Perhaps we don't know exactly why the price went up 30% today. But **we DO know** that they are still shorted and must cover!**We do know** all the fuckery they do to manipulate prices and stock market. **We do know** the price is wrong! **We do know** that MSM manipulate news for those not aware. **This is enough to make people buy and hold!** + +Thank you all for the awards. +It surprises me that this point has not come up more often, or if it has, I have not seen it often. I am perplexed that congress would even consider this bill as it will obviously stifle innovation in one of our strongest economic sectors and hurt the overall economy. It has been said before and often, but the entertainment industry has failed to create a product that is worth the price they want people to pay. They refuse to adapt and innovate, and instead want the government to legislate artificial demand for a product that isn't worth the price they want people to pay. I know there are ulterior motives regarding censorship as far as our government is concerned, but I am not sure why economists are not howling and screaming about the damage our government is going to do to our economy by passing this bill into law. + +/r/economics, what are your thoughts regarding this and how can we more effectively emphasize the importance of the negative impact this will have on our economy? +I hope this doesn’t break any rules but I’m curious on your perspective on this: + +I’m sure we’ve all seen the news recently about a certain stock (or a group of stocks depending on who you ask) having a very drastic change in market valuation in a short period of time. Almost everyone seems to have their own “hot take” on the subject. + +I know the vast majority of us have a significant portion of our NW in the stock market. Do these events make you feel optimistic or pessimistic about the future of the market? Is your outlook unchanged from before? Do you plan to change your strategy or rebalance what assets your NW is in? + +I would suspect more than a few of our members work on Wall Street or in finance so I would be particularly interested to hearing from anyone in that space. How do you feel about this vs your boss vs people under you? + +I want to make it clear that I’m **not** advocating taking advantage of this situation to advance FatFire goals and this thread is **not** about debating if that’s a good idea. That’s your business and I’m not going to cast judgement. + +What I am asking is have recent events affected you in anyway, do you have any unique perspective on these events and if you are changing your FatFire strategy as a result +Forgive my lack of knowledge of economic principles. It feels like this is the most dangerous time to forgive student debt in America? + +My logic is as follows: + +1. Forgiving debt is effectively giving households X amount of dollars back overnight. It’s an economic stimulus. +2. Suddenly a huge swath of the population has an unexpected increase in net worth through losing a liability. +3. They can afford to spend more. +4. Cost of goods gets pushed up further due to high demand. + +What am I missing? +*Disclaimer: I am not a financial advisor. This entire post represents my personal views and opinions, and should not be taken as financial advice (or advice of any kind whatsoever). I encourage you to do your own research, take anything I write with a grain of salt, and hold me accountable for any mistakes you may catch.* + +There are numerous posts on this sub and others diving into the technical guts behind some of the recent moves behind GME, so I will keep it high level for everyone scratching their heads wondering what's going on. + +There has been much talk on CNBC and in other financial media calling what's happening in GME a distortion of the market and an unjustifiable departure from the fundamentals. That is undeniably true. That being said, the distortion is not what's playing out now, but rather what happened about 1.5 years ago when short interest in GME first began to approach (and later exceed) 100% of the available float. + +Short selling is usually a tool that aids in price discovery, but like most market mechanisms, at the extremes things get more complicated. + +Short sellers, having borrowed shares, are guaranteed (indeed obligated) future buyers of the stock. They put themselves in that position on the thesis that there are reasons to expect the stock price to go down, such that when they buy the shares back they can return what they borrowed at a lower price and pocket the difference. As such, as short interest grows, there is a short term downard push on the price (the initial sale of the borrowed shares), but also future upside pull on the stock price as a natural result, kind of like gravity, but pulling the price upward. Normally that pressure is so slight and subtle that short interest in and of itself should not be a mover of the stock price. + +That being said, a common rule of thumb is that you should start to concern yourself with that pressure when short interest crosses the threshold of between 20% and 25% of the effective float (shares actually available to trade). At that level and above, the pressure starts to become noticeable, kind of like the moon causing currents and tides. + +GME short interest was recently **140%** of the float. In recent days, short interest has actually continued to accumulate (I'll explain why later). + +There is, in effect, a critical mass of short interest hanging over GME's price exerting not subtle pull, but face-ripping force like the gravity of a black hole. A short singularity, if you will. + +Previous short squeeze case studies such as VW or KBIO were all about someone engineering a way for effective float to evaporate, suddenly leaving what was previously a relatively reasonable aggregate short interest position in a world of hurt. This is the first time where we're seeing a situation play out where it wasn't someone engineering a shrinkage of effective float, but large market-moving players simply blowing up the short interest to the point where it simply overtook effective float by a large margin. Why would they do that? Because they expected GME to declare bankruptcy in the very near term so that returning borrowed shares costs $0, as the shares are worthless at that point. Also, an arguably intentional side-effect of this massive artificial sell-side pressure on the stock is that it becomes more difficult for GME to obtain any kind of financing to avoid bankruptcy, making it, in theory, a self-fulfilling prophecy. GME, however, did not go bankrupt for reasons that are well explained by other posters. + +In order to close their positions and limit their exposure (which remains theoretically infinite otherwise), short interest holders need to collectively buy back more shares than are available on the market, and especially since GME is no longer at risk of imminent bankruptcy, that buying action would push the price into a parabolic upward move, likely forcing brokers to liquidate short interest-holding accounts across the board on the way to buy shares at any price to cover their otherwise infinite liability exposure (and that forced covering will push the price further upward into a feedback loop--like crossing the event horizon of the black hole in our analogy). + +So what is happening now, and where do we go from here? + +Right now, short-side interests are desperately trying to drive the price down. There has been an across-the-board media blitz to try to scare investors away from GME. But there is really only one way to drive price down directly, and that is selling. In fact, given that most of the large holders of GME long positions are simply sitting on their shares, it means selling. even. more. shares. short. + +Even as price has been grinding upward, and liquidity has been evaporating, short sellers, who have lost billions mark-to-market currently (my guess is on the order of $10bn by the end of trading today), can only keep selling, piling on even more exposure and losses, staving off oblivion hour by hour, minute by minute. + +GME might also decide to issue more shares to recapitalize its business on the back of the elevated share price, but it is unlikely they could issue enough shares to change the overall trajectory of the stock at this point (especially not given their fiduciary responsibility to current stock holders). It might, however, run the clock out a little while longer. + +At this point it looks like there will either be some type of external market intervention by regulators (though I can't see any reason for them to step in myself), or we will soon see what happens when short positions representing \~$8bn in current mark-to-market liability goes parabolic. + +\*edited for grammar\* + +*edit* +Please keep discussion to helping everyone understand what’s happening, which is the point of this post, not giving advice or telling people to take actions! + +*edit* +Didn't realize people were still reading this. If you're interested, please see my subsequent post: https://www.reddit.com/r/investing/comments/l6xc8l/gamestop_big_picture_the_short_singularity_pt_2/ +For example, [this article in the QJE] (https://academic.oup.com/qje/article-abstract/136/2/1199/6039346?redirectedFrom=fulltext) looks at the impact of sentencing rule violations on recidivism. [This AER article] (https://www.aeaweb.org/articles?id=10.1257/aer.20181607) measures racial bias in policing. [This AER article] (https://www.aeaweb.org/articles?id=10.1257/aer.20180284) looks at the legacy of colonial medicine in Africa. + +These all seem like important topics and I can see how they are related to broader economic issues (e.g. racial bias in policing leads to disproportionate arrests which weakens the economic power of the targeted community; distrust of medical institutions make a population more prone to illness and thus less productive), but they don't seem like economics in the traditional sense that most people would think of. Am I missing the bigger picture here? + +*Note: I don't mean to pick on these authors in particular. I was just looking at some recent issues of the two top journals I'm familiar with and these articles stood out to me.* +Hi guys, I just wanted to create an outreach post where we can all talk about our trading problems, cos that's what we are here for (family). + +So if you are encountering any problems in your trading life... just tell us about it below this post, in the comment section. + +Any problem at all... Whether you are struggling to make profits, or you can't analyse properly and pick trades, or you lack trading knowledge or you even don't have time to trade due to your schedule... Let us know below. + +I and other experienced traders in the room will try to offer you help/advice in anyway we can. + +Let's go🚀 +Hi all, hopefully this is an OK place to ask this question (if I should post it somewhere else please let me know)! + +I have a 1 month old and my MIL had initially told my partner that when we get the baby's SSN, she needs it to open an account for her. However, now she says that she needs a COPY of the social security card because she needs to "present it" in order to open the account? Is that a thing? I don't believe that she would steal her identity or anything, but she is extremely controlling and manipulative and I don't know if I feel comfortable handing her a copy of my child's SS card. + +Basically, I am asking if there is any type of account that would require a non-parent to present a child's social security card in order to open it? Thanks! +Imagine, losing all your $Chad and throwing away your fortune because one bad day in a market that goes on for decades. I mean, this is exactly why you short-sighted numbnuts are gonna be stuck toiling jobs and swing trading while the rest of us actual Chads sit around on our stacks. + +I mean, for fuck’s sake, Chad Token is already on CoinGecko, is being pushed out on CoinTiger, and is still letting you paper handed losers buy back in at a discount. + +**Almost at 10,000 holders**, Chad token is the most obvious success story that’s going to come out of this memerun. I mean, what other meme do you see more than Chad other than Pepe who already belongs to 4chan. + +You know this is the one that’s been waiting to erupt in the scene and if you saw the website, it’s obvious that there’s nowhere to go but up for $Chad. If you fucking wafes could hold your shit for more than five seconds before getting rekt on another swing trade, you might even just make it. + +So get in at its current $6M and enjoy the gains through the weekend (Saturday’s crypto’s busiest day) and get ready for waves of influencer marketing as this Chad has only begun to whale up. These movements won’t slow down until there is a billion dollar Chad token, and probably still well after that. + +Just look around the market. You’re not late to cryptocurrency like some virgin normie, you’re here early because you are a Chad, and you’re making your fortune off of the work of other Chads. + +Now go fuck off and enjoy your stacks. + +[Buy the Fucking Dip](https://exchange.pancakeswap.finance/#/swap?outputCurrency=0xea8eacce22bbb89709482c0100e75e7ab90f53f4) + +[Look at this Fucking Masterpiece](https://www.thechadtoken.com/) +Term insurance rates are set to increase by 20-30% from 1st Dec 2021. Main reason is covid, as insurers have seen much higher claims and need to regain profitability. + +If you haven't got a term insurance yet, and you have or foresee dependents and liabilities in your life, now is as good a time as any to get one. + +**The basics: what is a term insurance?** + +You can read all the details in the [wiki](https://www.indiainvestments.wiki/start-here/insurance-policies/life/term-insurance). Just covering the important stuff here: + +I like to think of it as a reverse lottery. You can buy a term insurance cover for say Rs. 10k a year where you are covered for Rs. 1 cr for the next 30 years (assuming you are 30 today). This is similar to buying a lottery ticket every year for next 30 years. + +However, in this case you don't want to win the lottery coz you'd be, well, dead. It would be a solace for your family that you got this insurance cover, but you'd be dead. OTOH, if you survive the 30 years, congratulations! You got thru your working life, hopefully cleared your liabilities and survived to tell the tale! Just kiss your premiums goodbye, because they were like that lottery ticket. + +**When should you get it?** + +Many people say you should get it only when you create a liability, like a loan or a child. But I feel people should get it far earlier, like maybe a year or two into their first job. You need to have a job to get insurance though, it is not offered to students. + +You should definitely have it in place before you turn 35, because your may develop some lifestyle conditions which may cause the same insurance to cost more. In the worst case you may be denied outright. + +**How much should you get?** + +Conventional wisdom is 10x your contribution to household expenses + sum of all liabilities you have (education, home, auto, credit card, etc.) For people in their 30s and beyond, this calculation makes sense because they are your reality. If you are in your 20s, you can default to a 1-1.5cr cover, or however much you can afford and an insurer is willing to give to you. + +**By when should you pay?** + +Insurers offer various payment terms. The cheapest (and the best for you) is to pay every year for the entire period of the policy. The best for the agent is you pay it in 5/10 years, which bumps up the commission. If you go thru an agent, they are likely to suggest limited payment options over the full payment options. + +**Agent / direct:** + +There will be a slight increase in going thru an agent, but IMO its worth it. Right now I'm seeing insurers asking a lot of questions and making the customer do additional tests if they declare that they had tested positive for covid-19. Having an agent will make your life easier atleast in the co-ordination with the insurer. + +edit after reading comments: you may need an agent if your case is complex. Some examples I saw were being on a ship, recovered from a critical illness, currently going thru medical issues, etc. Do your own research before you buy, but don't shun the concept of agents. + +**Riders:** + +Most riders like critical illness, accidental death, return of premium etc. do not make sense for anyone except the insurer. + +There is one insurer to my knowledge who offers Accidental permanent total or partial disability rider which in theory makes sense. However, conventional wisdom is to buy disability insurance separately. + +&#x200B; + +Any further questions in the comments below. + +&#x200B; + +News source for rate increase: [link](https://www.livemint.com/insurance/news/munich-re-plans-to-raise-term-insurance-premiums-by-up-to-40-key-details-11635829714242.html) + +&#x200B; + +edit: thank you all for 250 upvotes! Will keep putting up useful stuff like this. + +Buried somewhere below is an excellent comment by u/onebatchone which thoroughly deserves its own post. [Link here](https://www.reddit.com/r/IndiaInvestments/comments/qvsu68/comment/hl3q5u4/?utm_source=share&utm_medium=web2x&context=3). + +Disc: I am an insurance agent. If you want any help in buying a policy, or even free one-on-one advice, DM me. +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). +DOCT tokens give users access to create smart tailor-made legal documents on the DocTailor platform. Every token provides users with "DocTime" which can be used to create contracts, agreements for use in over 100 different industries. + +Every token used on the platform instead of fiat currency, adds extra time to the users account. Token users are awarded bonuses; in the form of access to exclusive smart document templates and free-feature time. +http://www.doctailor.com +Was the bear market then way worse? Is this one worse? Were the despair levels like now? How long did it take to finally start seeing the light at the end of the tunnel? + +Would love to hear some insight and perspective from those that were around for comparison, thanks! +Long time lurker, first time poster. I landed a remote role as a contract developer such that my annual base compensation is 1cr+. Till now I was earning 20lpa as a salaried person with PPF and MF as the investment options. I used to file my own taxes and never talked to any CA. My family (extended family also) is also all service class and they do not have a CA as well. In a nutshell we are very simple middle class folks living in govt housing minding our business and writing exams to land jobs. + +With the new contract there are so many changes that I am at my wits end as to where to begin. Till now I have collected some information but I am laying it out here to discuss with the community. I thought of putting this in bi-weekly thread but I felt this can serve as a generic information post for folks looking to invest largish amount of money. I am going to update this with more information as I find. + +It would be great if the community can contribute the questions I should ask myself or Google around to make a path to success. + +Few questions I am looking at: + +1. As a contractor I would serve as a professional. I won't have any of the usual tax saving schemes like PF or 80C. My ITR will also change from ITR-1 to ITR-3. What are the tax saving instruments which I can employ? + +2. Does making a large investment in real estate sound good in the changed scenarios when I will be remote always? Till now I never thought I could buy a house in next 5 years. + +3. I will need to get tax audits and maintain a Leger books. !?!?. I want to get a CA. Does online platforms like clear tax provide these services? + +4. Is this money large enough to consider getting a portfolio management service? I have heard they give decent returns but require huge amount of commitment from the investors. (Typically 50L) + +5. My contract says that I get esops(~150k USD vested in 4 years) as well but how does that work when I am not an employee. + +What else should I be thinking of? + +Tl;Dr Suddenly landed a dream job with 1cr base salary and 1cr esops. Don't know what to do. + + +Edit1: For folks asking the company name - I understand that this is a nice opportunity and you like to give it a shot. There are many developers better than me and more suited for the role. But I think I am the only developer from this part of geography working for this small startup and it would look really bad on me and (India in general) if they see 100s of inbound emails looking for job opportunity. I would also end up disclosing my identity if I share the company name. But I do want to help and hence I suggest keep your github and linkedin polish and try finding a niche. Keeping an online presence is good and it increases surface area of getting lucky. I hope you understand my reservations on disclosing the company name/github ID. + + +Edit2: Guidance/Skillset - I received a number of messages regarding what skill set should people acquire and what courses they can do. I am not an expert and there is no special skill set I have which helped me land this thing. I can tell what language I work with: Go, Python, Javascript. Technologies: Docker, Kubernetes, Git. Area of interests: Trading, Compilers, Optimization. College: Tier-1. Reiterating that I landed this by luck and no specific preparation, knowledge etc. +I need advice and resources. His mom is moving to Florida with her new husband and baby. I won custody and am looking for advice and resources to help and make a low income father's life more manageable. Anything helps, thanks for the replies. +Didn't expect this to blow up like it did. Thanks to everyone who replied. I really appreciate the support. +What’s your margin of safety (MoS) and what’s your basis for your stated target price? + +For example, I know Buffett bought AMZN at $83/shr in 2019. Knowing he uses 20% MoS, he believed AMZN’s FMV was atleast $104 in 2019. I started nibbling into AMZN at $90 and plan to continue to buy as I believe AMZN has only become stronger as a company over the last 3 years. + +This strategy helped me buy OXY at $40 PRE-PANDEMIC (2019) and sell recently at $70+. I know this isn’t foolproof but trying to buy Buffetts position cheaper than the oracle himself is way better than me trying to do my own valuation and setting a target buy price. + +How are you thinking about entering into the 4 stocks mentioned above? +I don’t have anyone to celebrate with but I want to say woohoo woohoo I’m getting there, I’m getting there! I’m there, I’m there! Lol last year I was proud to have saved $100 and now I’ve saved $10,000! + +How much do you think is a good amount to have before looking for a single family house? (I am pre-approved in the $160-170k price range and these are around the prices I’ve seen for 3-4 bedrooms in my area). How do I learn about the market in my area? What are some other things I should learn before house hacking? + +Edit: thank you all so much for congratulating and celebrating me 😊 and as always, for giving me advice. Y’all are awesome! +Hey /r/finance. If you've been here a while, I'm sure you've seen someone ask a variation of "I've got an interview at XXXX tomorrow, what should I know in Excel or something along those lines. There are a few threads (like [this one](https://www.reddit.com/r/finance/comments/25k6tn/what_are_some_useful_tricks_shortcuts_and/) and [this one](https://www.reddit.com/r/finance/comments/1c0z0h/excel_modeling_for_corporate_finance/) which have a bunch of great tips but as far as I know there is no one post, so this is my attempt to create one. + +**Introduction** + +If you are a complete beginner, I recommend downloading [this spreadsheet](http://www.hoffits.com) to familiarize yourself with the basic functions. + +*General Tips:* (many of these are from /u/kentaloupe, thank you) + +* Do not use the mouse. Unplug it, and learn all the shortcuts. It will make your life so much easier in the long run. Here are finance specific shortcuts for Excel [2013](https://s3.amazonaws.com/wsp_sample_file/excel_2013_shortcuts.pdf), [2010](https://s3.amazonaws.com/wsp_sample_file/excel_2010_shortcuts.pdf), and [2007](https://s3.amazonaws.com/wsp_sample_file/excel_2007_shortcuts.pdf). (PDF files) Print one off, and use it until you don't need it anymore. I can't stress this point enough. Seriously unplug your mouse and learn how to properly use the program. +* Have a mac? Good for you, so do I. It's awesome at almost everything, including running windows. So go get a copy of windows, and run excel on that. Excel for mac is not good for finance. +* Avoid hardcoding values. It makes your work messy and difficult to audit and edit. If you have to hardcode, make the text blue. +* On the subject of text colors, *green* is for references to other *sheets* and *black* is for *formulas*. After that, it varies from place to place, but these are standard. +* Comment on your work. It’ll make it make a ton more sense to everyone who uses your file. (Note: some people like to comment using SHIFT-F2 while others prefer comments in the margins. It depends on where you work/who you work for) +* Name your cells and ranges. It’ll help you out a ton in the long run. (Note: you don’t need to name every cell or range, but it’s very helpful to name cells that hold a hardcoded variable such as a tax rate) +* Many analysts will remove or disable the caps lock and F1 keys. A paperclip under the key does the same thing, and doesn’t look as ugly as tearing them out. There are a bunch of programs to disable keyboard keys available, I use [this](https://sharpkeys.codeplex.com) one. You can also disable the F1 key with a VBA macro, which can be found [here](https://www.reddit.com/r/finance/comments/2znreq/a_guide_to_excel_for_finance/cpl44x7) thanks to /u/tally_in_da_house. +* Check you file with print preview before delivering it to make sure it looks okay. Setting the print area also works but it will slow down larger files. +* On the subject of looking pretty, learn conditional formatting then remember to only use it for final copies/deliverables. It makes files unbearably slow if you have a lot of data. + +**Shortcuts** + +* Seriously, even if you’re an expert, take a look at the shortcuts on these sheets here, you might find something new. (sheets for Excel [2013](https://s3.amazonaws.com/wsp_sample_file/excel_2013_shortcuts.pdf), [2010](https://s3.amazonaws.com/wsp_sample_file/excel_2010_shortcuts.pdf), and [2007](https://s3.amazonaws.com/wsp_sample_file/excel_2007_shortcuts.pdf).) +* *ALT:* hitting alt will label everything in the ribbon with a letter, which you can hit to do that shortcut. For example: +* *ALT-E-S:* This opens up the advanced paste window. Look at all the options and hit the underlined letter to select whichever one you want. Eg. *ALT-E-S-T-Enter* is paste format, *ALT-E-S-V-Enter* is paste values. +* *F2* and *esc* to quickly audit cells. (thanks again /u/kentaloupe) +* *Ctrl-Shift-[:* Follows where a formula links to. (Brings you to the referenced cell, great for auditing) Thanks /u/publicfinance +* *F4:* switch between absolute and relative cell references +* *Ctrl+PgUp/PgDn:* Switch tabs (credit to /u/throw-it-out for this and the next 8) +* *Alt+PgUp/PgDn:* Page Left/Right +* *Alt+O,D,A:* Conditional formatting +* *Alt+O,C,A:* Fit column width to contents +* *Ctrl+~:* Show formulas in cells instead of values +* *Ctrl+1:* Show format cell dialog +* *Ctrl+; :* Enter current date in cell +* *Ctrl+:* - Enter current time in cell +* *Ctrl+Shift+ +:* Insert Row/Column/Cell(s) (Not working? See [this comment](https://np.reddit.com/r/finance/comments/2znreq/a_guide_to_excel_for_finance/cpl20gx) by /u/Levils) +* *Alt+Shift+F1:* Insert new worksheet + +**Key Formulas** + +* *index/match*: like vlookup and hlookup but more powerful, and anecdotally quicker. Learn vlookup first and then learn index/match and never switch back. +* *sum/offset:* find totals for dynamic ranges of data. Good for calculations based on a changing range of data +* *and/or:* can be used in conjunction with other formulas, lets you have multiple requirements or optional requirements in your formulas. +* *sumif, sumifs, countif, countifs:* all either add or count a row based on one or more conditions. These are pretty easy to learn. +* *sumproduct:* Exactly like it sounds, gives you the sum of the product of 2 rows/columns. [Sumproduct can also be used as enhanced version of SUMIF/SUMIFS, etc., since the way those functions handle booleans is atrocious. E.g. =SUMPRODUCT(--(A:A>0), --NOT(ISBLANK(B:B)), C:C)] (thanks /u/tf113) +* *address and indirect:* I hate these, you can google them. They’re very useful and very volatile. Often seen with index/match and can often be replaced by an index/index/match. (Thanks /u/tjen) + +There are a ton of other great formulas out there, these are just some of the most commonly used ones in finance. If I’m missing anything, PM me or leave a comment and I’ll add it in. + +**Other** + +* *Add-ins:* Not really an add-in, but turn on the developer tab right away. It gives you access to VBA which is incredibly powerful. While you’re there, turn on “Solver” as well, you’ll thank me later. + +* As far as finance specific add-ins, I use [Macabacus](https://www.macabacus.com/macros) (the free version) which has a bunch of functions I use all the time. The paid version is good too, and if you need the functionality, it’s 100% worth it. The site also has DCF, LBO, M&A and Cap table models which are pretty good to learn from. I don’t like the format, but they’re well build and designed. + +* *VBA*: VBA deserves it's own separate post, so I won't cover it here. "Power Programming with Excel VBA" comes recommended by /u/tf113 for those who want to take your skills to the next level. + +* *Pivot Tables:* These didn’t really fit anywhere else, so I put them here. They are one of the most powerful and underused features in excel. They can be used to summarize almost any data. My associate taught me how to create financial statements from GL data using pivot tables which is incredible for doing valuation work as it lets you see a breakdown of every transaction that affects whichever account you use. (This makes normalizing EBITDA/EBIT a *ton* easier, and this is just one case.) ([Guide for this process can be found here](https://www.reddit.com/r/financialmodelling/comments/2zqivs/turn_gl_data_dumps_into_dynamic_detailed/)) + +* *Templates:* [This](http://www.exinfm.com/free_spreadsheets.html) is a great resource with a bunch of finance specific templates. [Macabacus](https://www.macabacus.com) also has a few free templates which I mentioned before. + +This is a work in progress, so feedback and comments are appreciated! I’d love to make this a community resource that we could direct people to to get started with excel for finance. + +EDIT: A lot of the comments below have been added into the main post, thanks to everyone for contributing! If I missed your comment, shoot me a PM and I'll check it out. +Thanks for the sticky mods! And second highest post of all time on /r/finance! +Hi, so My name is rob From the U.K. and I’m 20 years old living with my mother. My partner lives with us too as she moved here to go to college. I’m currently about to finish my final year In college in graphic design. + +Right now I’m working at McDonalds earning 7.45 per hour and around 8k a year. The plan was to start my careers fully in a year or so when I can get the chance to. However my partner fell pregnant and I’m trying to sort my life out and nothing is seeming to go right. + +We can’t really get a house because we will struggle to move out and I really don’t earn enough money to pay the bills. I can’t find another job because of covid. Everywhere seems to be dead with jobs, I got a extended diploma in design now as I’m about to finish my degree however there are not really any graphic design jobs going around in the U.K. what so ever. + +I’m really scared and I want to be able to provide for my family. No jobs I’m looking at full time or part time seem to be getting back to me and or don’t pay any better than my current job. I have tried to freelance and I’m really good at design however the pay is so inconsistent and not a lot of money I’m struggling to make even 100 a month from it. + +I have no idea what to do and I really need to get a job that pays well. + +Please help! + +Edit: to everyone telling me to consider abortion, frick off. We are 23 weeks in and are very much happy with our decision to keep the baby. I didn’t ask for anyone’s opinion on this factor. Don’t contribute to the stigma of young parents, we are both very much okay with our lives changing and how we will have to become responsible for this baby. We have supportive families, we just wanted advice on what is right in the situation we are in. +I'm a software developer in my 40's and for the past few years I've been wondering if maybe I should start studying economics. I follow a fair amount of pop-econ content, I like working with data, and usually think outside the box when solving problems. I don't necessarily want to get involved with finance or even to work as an economist... I just get the sense that I would enjoy it, be good at it, and if I got serious about it, maybe I might acquire some data superpowers. Data science seems like a natural progression but I'm more interested in product management, but empowered by good analysis. + +1. Am I oversimplifying, underestimating, or daydreaming or is this a reasonable idea? + +2. what's the best way to get started? Is there some viable course of study that is not university (because realistically, I'm not quitting my work to go back to college at this point)? + +I realize those are broad questions without much context but I hope it's enough. + +Thanks! +It has often been said that the reason that workers are paid far less than owners/CEO’s and even shareholders is because they take on the risk of the company failing and losing money from declines in valuations. + +I have also heard it argued that workers do also themselves take on a lot of risk when working for a company, for instance if the company performs badly they may be fired or pay may be deducted (often to prevent the wealth of the owners coming down). They therefore may not be able to afford rent, food and other necessities and as such the risk of joining is high. + +I can also think of two responses to this point: +1. The worker can always find a new job (though this depends heavily on the labour market and if they were highly specified it may be harder for them to find a new job that pays enough to support their prior lifestyle) + +2. The worker will never lose money, merely not receive more in the future, whereas the owner will lose wealth if the company fails. (Though I’m unsure if this point is entirely true) + +So the ultimate question is, is there substantial risk taken by owners to justify the often far higher pay/wealth accumulation? +Every post with someone talking about their financial troubles is inundated with accusations of the person being lazy and how commentors make 100k+ a year with no degree living in the middle of nowhere. This is the type of stuff we left personalfinance for. + +The assumption that because many of us don't make a lot of money that we're lazy is ridiculous. Many well-needed jobs don't pay anything. EMTs get paid peanuts. Nurses barely get paid enough considering what they do, etc. I can't even fathom why someone would come in here just to harass those who are struggling financially. +&#x200B; + +[https://www.cnbc.com/2022/07/13/inflation-rose-9point1percent-in-june-even-more-than-expected-as-price-pressures-intensify.html](https://www.cnbc.com/2022/07/13/inflation-rose-9point1percent-in-june-even-more-than-expected-as-price-pressures-intensify.html) + + The consumer price index for June was expected to rise 8.8% from a year ago, according to Dow Jones estimates. + + + +Shoppers paid sharply higher prices for a variety of goods in June as inflation kept its hold on a slowing U.S. economy, the Bureau of Labor Statistics reported Wednesday. + +The consumer price index, a broad measure of everyday goods and services, soared 9.1% from a year ago, above the 8.8% Dow Jones estimate. That marked another month of the fastest pace for inflation going back to December 1981. + +Excluding volatile food and energy prices, so-called core CPI increased 5.9%, compared to the 5.5% estimate. + +On a monthly basis, headline CPI rose 1.3% and core CPI was up 0.7%, compared to respective estimates of 1.1% and 0.5%. +[https://www.marketwatch.com/story/microstrategy-shares-slump-as-bitcoin-margin-call-looms-11655111047](https://www.marketwatch.com/story/microstrategy-shares-slump-as-bitcoin-margin-call-looms-11655111047) + +It's unfathomable that the CFO of an over-leveraged public company whose major (and virtually only) asset has declined by 56% would say, "not to worry, we won't face margin calls unless the decline reaches 70%". + +Well one week later, the decline in **the coin that shall not be named** has reached 65% pal. +The above quote is my favorite advice I’ve heard from the FI community. It’s helped me achieve financial stability and growth while truly enjoying life (something that can be hard when aiming for a super high savings rate). + +Things I spend on without beating myself up: travel, tattoos, yoga, my partner, my cat, and renting a decent place for myself. These things bring me legitimate joy. + +Things I mercilessly cut spending on: clothes, restaurants/bars, furniture, cars, and new tech/devices. These things don’t really affect my happiness. + +You may have completely different priorities than +me, and that’s great! My point is just to make it clear what you care about, and allow yourself to direct money that way. Even though I spend on things I love, my monthly spending has taken a nosedive by saving on things I don’t care about. + +Much love to you all! + +Edit: Wow thank you for the love and awards on my first-ever Reddit post. As many of you pointed out, the quote is from Ramit Sethi, author of I Will Teach You To Be Rich. I also wanted to clarify that “extravagant” doesn’t necessarily mean “luxury.” When I say I spend extravagantly on things, I still do so responsibly. Example: I love travel but that doesn’t mean I book first class tickets and five star hotels. It means I travel cheaply so I can afford more trips throughout the year. It’s all about forming a positive and honest relationship with yourself 🖤 +I’ve been lucky enough to have 80% of my portfolio in USD due to my faith in the global reserve currency and confidence in the S&P 500. However, like everyone else my portfolio is down but the exchange rate is propping things up about 8%. How do we take advantage of this? Every time our CAD sucks at around 70 cents the US market is typically down. Like now, March 2020 etc.. Should we just buy CAD when under 70 cents no matter how our US portfolio is doing? Look into ADR’s? +We’re thinking of moving our child who is currently in kindergarten at a private school to start year 1 next year at the local public school. We live in a working class area in Western Sydney. Although the local school doesn’t have a “bad” reputation, our catchment area has a few blocks of housing commission homes. We can afford to pay his fees for now, but have another child on the way and definitely noticed the mortgage repayments have gone up since our fixed term has ended. We also always have the thought in the back of our mind that the $15k we spend on fees per year could be better spent on family holidays and experiences outside of school, and putting more toward investing for their future. Has anyone else moved their kids from private to public? Do they regret it? +So recently, I found out that my grandparents have been renting out the two other units in their triplex for $900 a month, far, *far* under market value for a unit in Portland, Oregon, USA. It's not in the suburbs. It's in the city proper. The triplex takes the form of an upstairs unit, a middle unit, and a basement unit. They live in the middle one and rent out the top and bottom ones. I felt their story is worth sharing, although I'm not sure if this is the right place. Please let me know if it's not! + +My grandmother immigrated from China to the United States in the 1960s fleeing the Cultural Revolution. She and my grandfather worked as grocery store clerks for 40 years, despite my grandfather having a degree in mechanical engineering, because the language barrier meant he couldn't sit for the state engineering board exam. They put my father and two aunts through college. Originally, the house they bought was a duplex, having only the upstairs and the middle floor, with them sharing the mortgage with another family. That other family eventually sold my grandparents the other half of the duplex for $100,000 (decades ago, can't remember exactly when I think in the 90s). They later added the basement to make a triplex. + +Now, they own the entire house free and clear and rent out the top and bottom units. An old lady lives on the top floor with her son, who has since moved out, but she keeps renting it. My grandparents charge her $900 a month and have raised the rent one time (it used to be $850) in the past ten years. The bottom unit was listed for $950 and rented out to two young men. + +The market rate for a two-bedroom flat in their area is 50% more than what they're charging. When they reviewed applications for the bottom unit, they only wanted to rent to working-class people. + +When I asked them why, they said that it was because when they came to America, they were poor too, and they felt like they were giving back to the community by renting out the units at far below market rate. I told them that they could be making a lot more money, and my grandmother said (translated from Chinese): "I don't need more money. I'm old and retired, and the house is paid off. Between your grandpa and I, we get around $2,000 a month from pensions and Social Security. A few hundred dollars more a month won't do us any good. Even if we have a boatload of money, that money only lasts one lifetime. When I pass on, I won't get to take any of it with me. We already have enough to live comfortably, so why charge more?" + +Anyway, that's all I wanted to share today. Never posted before in this sub so sorry if it doesn't go here. +* Raise interest rates +* Disincentivise 'investors' via various means via laws, such as much higher deposit requirements for non-owner-occupier houses (e.g. Shanghai just raised theirs from 60 to 70% for a second house and from 80% to 90% for higher priced houses). \*\* 31.8% of all new home loans are by 'investors' \*\* +* Construction of more social housing. Social housing is literally the most cost effective social welfare measure you can do in regards to any negative socio-economic phenomenon e.g. unemployment, crime. And as seen in the Netherlands and Vienna, they do not have to be crap and are highly livable. +* Make apartments actually liveable via decent size and strong building laws. +* Supporting these apartments are supporting shops such as cafes and supermarkets on lower floors. This is literally seen in say Bay Street in Port Melbourne. Sure, higher socio-eco suburb but there will always be a market for more 'middle class' living with this if introduced. Council direction essentially. +* Strong public transport infrastructures supporting these. And changing of psyche via structual change. The Netherlands used to be car central until they decided to make it liveable with bikes and it is now the most bike friendly nation on Earth. It can be done. EDIT 4: The Netherlands isn't just Amsterdam and maybe actually look at a bike lane map of the whole of the Netherlands. Gees. - [https://www.forbes.com/sites/carltonreid/2019/01/08/cherish-the-bicycle-says-dutch-government-and-heres-that-love-in-map-form/?sh=58b631412726](https://www.forbes.com/sites/carltonreid/2019/01/08/cherish-the-bicycle-says-dutch-government-and-heres-that-love-in-map-form/?sh=58b631412726) +* Mid density housing of max 5 floors. EDIT 3: For those criticising this, it is proven that high rise living has negative health issues such as higher incidences of depression, phobias, schizophrenia. Mid density is the best middle ground for this. EDIT 3.1: This isn't a conspriacy, literally look it up and it isn't just rich people. What kind of dumb take is that to jump right to that without even bothering to look it up yourself via good sources and it somehow got upvotes too. Literally an Aussie academic source: [https://ro.ecu.edu.au/cgi/viewcontent.cgi?article=8593&context=ecuworkspost2013](https://ro.ecu.edu.au/cgi/viewcontent.cgi?article=8593&context=ecuworkspost2013) or here: [https://theconversation.com/its-time-to-recognise-how-harmful-high-rise-living-can-be-for-residents-87209](https://theconversation.com/its-time-to-recognise-how-harmful-high-rise-living-can-be-for-residents-87209). Systematic review here: [https://www.researchgate.net/publication/333626613\_Social\_consequences\_and\_mental\_health\_outcomes\_of\_living\_in\_high-rise\_residential\_buildings\_and\_the\_influence\_of\_planning\_urban\_design\_and\_architectural\_decisions\_A\_systematic\_review](https://www.researchgate.net/publication/333626613_Social_consequences_and_mental_health_outcomes_of_living_in_high-rise_residential_buildings_and_the_influence_of_planning_urban_design_and_architectural_decisions_A_systematic_review) And this literally occurs with higher storied buildings in Singapore's HDB system, in which by law people of different incomes live with one another on the same floor so it isn't purely socio-eco based. +* Make developers actually contribute towards the cost of supporting infrastructure like schools and public transport. You say this may disincentivise developers, but the demand is there regardless and someone will take that demand. Less profit is better than no profit and this is proven time and again despite bluffing and lobbying from companies. All companies will comply with whatever regulations a place has despite their whinging. As stated, some profit is better than no profit. Self censorship for the Chinese market is a classic example or complying with strong labour laws. +* Make building contracts flexible on the cost of construction so you don't have massive builders fall over due to spike in building costs. See above previous reason if you think this would disincentive developers. They aren't stupid. All they will do is forecast more headroom in forecasting as all development and investment has risk. +* EDIT: Forgot balanced tenancy laws so people are not essentially coerced into buying houses to avoid bad tenanacy laws. Longer leases like in Germany and France also has the social and economic benefit of being able to plan your life around that longer lease and economically for the landlord, consistent planned cashflow / yield and being able to plan around that. And allowing simple stuff like putting up pictures / natural 'living wear and tear' like bought houses have. +* EDIT 2: Like with penalties for empty undeveloped or unused land, disincentivise empty housing via penalties and reward occupancy of formerly empty properties via adding them to rental stock for a period. +* EDIT 5: No, banning the big bad foreigners from owning doesn't solve it. There was next to no immigration / foreign buying in 2020 and 2021 and house prices still skyrocketed. The masses of first home buyer home loans were from Australian citizens and PRs (as they are the only ones who can get those loans in the first place), and do you know how long it takes to get PR? Immigrants tend to rent at first as they settle in anyway. + +Australia has among the worst in the OECD in regards to housing stock per 100,000 both privately and social housing. It isn't just purely demand like others like to say in here. +I have 5-6 weeks worth of sick leave built up. Originally it was one of my safety nets (I mean, it still is) for if I fell ill for long. I’ve taken sick leave 1-2 weeks before for cold/flu. I’m not the type to chuck sickies all the time and will use it legitimately. + +As of late, my workplace suck. A lot. I know a lot of my colleagues will chuck a sickie at least once a fortnight and many of them even in negative balance. + +Also, in the meantime I’ve also hit coast FI and I feel pretty comfortable financially. which makes me think that even if I didn’t have the sick leave, I will have the money to cover for myself anyway. In saying that, I would never go to negative balance. + +Lately I’ve been really wanting to take days off especially for mental well-being. With family issues, Covid, work stress, I find myself crying/being very upset at least once every 2 days and I’m needing more personal days off. + +I feel guilty about taking sick days. But should I? At the same time I also feel like I’m entitled to those days and I shouldn’t feel guilty for using them. I don’t think I’m burning bridges - I work in one of those massive companies that has hundreds and thousands of employees so HR would only know me by a number anyway. Also to add I don’t want too much leave banked up and if I ever quit the company, I just lose it all. + +How do you guys feel about this entitlement? Do you use it as it becomes available or are you guys really saving it? Can I ever be rated negatively for using too much sick leave by HR? I assume no cause everyone else is doing it? Would be nice to hear your thoughts. + +Edit: thanks everyone for the reply. Got it. It’s my day and get rid of the guilt. Thanks again. + **Pros** 🐂 + +* Total revenue of 83.265 beating analyst estimates of 80.6 million +* Q4 revenue of 24.876 which just beat analysts estimates of 24.2 million +* Adjusted EBITDA of 3.626 million(Q4) vs 3.397 million(Q3) +* Earnings per share of -0.03 for the 2020 fiscal year vs -0.13 for the 2019 fiscal year + +**Cons** 🐻 + +* 630 million shares outstanding as of March 1, 2021 (not necessarily a bad thing though) +* Shareholders equity dropped to 11.723 million vs the 13.651 million they reported in Q3 resulting in a higher price to book ratio +* Not profitable this quarter as they posted a 1.324 million loss + +**Forward Looking** 🚀 + +* Smoke cartel deal is soon to be closed by mid March and that will produce at least 7.4 million USD for High Tide each year +* Next earnings report is very soon, April 1, 2021 is when it is due to be reported. +* Meta Growth will be included in Q1 2021 report and revenue is estimated to be at least 37 million with these numbers +* They are looking to operate 115 stores by the EOY so stores will be opening each month +* Recent bought deal offering adds 23 million of cash into the company’s hands and will be used for store openings and acquisitions they see fit +* Debt has been reduced substantially by 27 million in 2021 alone. This will raise High Tide’s equity and make their balance sheet look more attractive +* They are aggressively looking for acquisitions to further their US presence and they have said that companies have already been reaching out to them + +**Speculation** 👀 + +* Legalization of Cannabis in the US is bound to happen in either late 2021 or 2022 (my prediction) +* Nasdaq update is sure to come, my prediction is in May or June +As most of you know credit Susie has been on a sharp declining stock price for a while now. Currently a around the very low 4$ per share. They are a large investment bank in Switzerland currently getting backlash from a memo that was released expressing that they had the liquidity and cash to prevent a Lehman brothers situation. Which was also said by the CEO of Bear Stearns before they collapsed in 2008. + +In the case that the memo is true and they due have the cash to stay afloat they are trading at a price to book of .22. Even if there outlook is a long term decline due to poor decisions this seems clearly a value play. + +The worst case scenario. They fail and don’t receive a bailout. In that situation it seems that either a stronger bank purchases them for Pennie’s in the dollar which could potentially break even on the stock price. + +Realistic scenario, they don’t have the cash they say they do but they receive a bailout like the US banks did in 2008. Switzerland is a wealthy country with lots of cash, they are also known for there banking and keeping that reputation is extremely valuable for them. Seems a bailout if necessary would be worth it. + + +Option 2 for realistic scenario. They don’t need to be bailed out and they survive in there own. Even if long term they continue to decline it seems like they are priced so cheaply currently it might be a strong play. + +Any other perspectives would be much appreciated. I wasn’t an investor during the previous financial crisis so I’m not sure what would have happened if you had money in bear stearn. +I'm sure most people on here know not to blindly believe every investment article they see online, but I just found what I thought was funny proof of this. These 2 articles from [fool.co.uk](https://fool.co.uk) 1 day apart: + +[https://www.fool.co.uk/investing/2021/04/10/3-reasons-id-buy-the-deliveroo-share-today/](https://www.fool.co.uk/investing/2021/04/10/3-reasons-id-buy-the-deliveroo-share-today/) + +[https://www.fool.co.uk/investing/2021/04/11/deliveroo-share-price-why-im-not-buying-yet/](https://www.fool.co.uk/investing/2021/04/11/deliveroo-share-price-why-im-not-buying-yet/) + Token holders will be able to spend their tokens to rent real estates by sending tokens to corresponding real estate contract. The contract will be updated accordingly and the whole rent process will be as transparent as it should be. Contracts will also allow integrations with IoT and allow plug and play smart house experience. The blockchain provides the most reliable system for transferring funds. The fact that the data remains saved in an immutable distributed data store means that users can be rest assured that their data cannot be tampered with, payment flows can be optimized, and ultimately the overall rental experience can be improved. + +&#x200B; + +[https://elementsestates.io/](https://elementsestates.io/) + Token holders will be able to spend their tokens to rent real estates by sending tokens to corresponding real estate contract. The contract will be updated accordingly and the whole rent process will be as transparent as it should be. Contracts will also allow integrations with IoT and allow plug and play smart house experience. The blockchain provides the most reliable system for transferring funds. The fact that the data remains saved in an immutable distributed data store means that users can be rest assured that their data cannot be tampered with, payment flows can be optimized, and ultimately the overall rental experience can be improved. + +&#x200B; + +[https://elementsestates.io/](https://elementsestates.io/) +I work in the Canadian export industry and figured that you all may appreciate an update on what's happening with this global shipping crisis as it has a huge impact on many of the value companies that many of us look at. This is an update I am currently sending out to customers and is from a Canadian perspective but this effects all US shippers the same. Some of my US counterparts are having the exact same issues and are unable to ship through most major us ports, especially those in the northern states. + +Things have gotten much worse in Canada over the past 24 hours. Prior to this week, shipping through Vancouver was already basically impossible as no vessels were arriving to take cargo so all cargo was being diverted to Canada's other major port, Montreal. Now, because of the backlog of cargo and lack of containers in Montreal, our transloader in Montreal is refusing all inland deliveries effective immediately... both truck and rail, and they are the only facility that can transload from rail to containers at the port in Montreal. Additionally, the shipping lines essentially have no available containers in the port which means they are not sending any inland… So we cannot get containers anywhere in Canada…. To add further pain to Canadian shippers, a record setting storm hit the west coast this past week which has destroyed multiple sections of the rail line that brings cargo to the port and the highways used as a secondary route to the port. So even if Vancouver was able to get vessels, for at least the next 2-4 weeks, there will be no way to ship through Vancouver as there is no possible way to get cargo to the port while repairs take place. + +This means that as of yesterday, Canada has essentially been cut off from global containerized markets… + +How did this all start you may be asking? For a quick recap: + +1. China shuts down thx to covid + +2. US and European stimulus gives consumers never before seen levels of disposable income + +3. Consumer demand = extreme purchasing levels of consumer products made in China + +4. Shipping lines divert all available ships to china to fulfill consumer product demand (which include toys, kayak, computers, car parts, ect). Consumer product sellers (walmart, amazon, Home depot, Ford, coke, ect) are willing to far out pay traditional markets for containers as they know consumers will pay whatever prices (case and point, vehicle prices skyrocket yet there is still a ton of demand) + +5. Containers and vessels are no longer available for traditional shipped goods from North America or any market for that matter (grain, wood, ect) and lines increasing prices monthly while reducing service + +Hope this is some useful info for ya'll! Feel free to ask any questions, happy to help. +I'm writing this because the Reddit threads on this topic are outdated and more people should know what I now know about the "new" timeshares. This is what it's like to be on the receiving end of a Wyndham timeshare sales pitch. Here goes: + + +I vaguely knew what I was getting in to. My girlfriend and I arrived at an MGM owned casino. We get a bite to eat and as soon as we began our exploration of the Casino someone approached us offering vouchers for free play in the casino worth $75. I'm usually hesitant to ever get sucked into something like this but my girlfriend insisted that we do it. "They give it to you for showing up, we'll just say no, I've got friends who did this too, etc." I went along and decided to keep an open mind about it. + + +We talk to this guy who convinces people to attend this "seminar" for two hours and you'll receive the vouchers, plus a hotel room for a few nights from a selection of locations, plus free breakfast. He insists that all you need to do is say "no, not interested" once the 2 hours are up and you can just leave with your vouchers. Obviously his incentive isn't to sell anything but fill the buses with as many people as possible. + + +The next day we get on the bus to the seminar location. My initial thought was that we'd all crowd into a room and watch some presentation before given the opportunity to bounce. I was caught off guard when every couple was assigned a salesperson. We meet our salesman and he immediately compliments us, is incredibly impressed by any of the words we string together, and has now become our fake best friend. + + +We go into the presentation and the speaker does his thing. And everyone here should be aware that much of what he said was true, but his conclusions were abhorrent. He pointed out that in America we do not use all of our vacation days. We tend to waste them. We are also constantly putting off that one trip to our dream destination to "someday", but "someday" never comes. Next, he points out that most people, dying people, regret working so much and wish they spent more time with their families. These are true facts.  + + +But then he concluded by suggesting we should all buy into this program which will allow us to take these dream vacations. It was the kind of sound financial advice you'd expect from someone who would directly benefit from the purchase and would never hear from you again. + + +I want to note, the speaker was talented and entertaining. He was loaded with jokes, self-deprecating humor. It was funny, but holy shit. Looking around the room were the salespeople with the obnoxious fake laughter. They saw this probably a hundred times. It was creepy. It was surreal. 1/3 of the audience was in on the sales pitch.  + + +The salespeople used every joke as an opportunity to measure the responses on the faces on their paired couple. The speaker would crack a joke and all the sales people would simultaneously throw their back out laughing before turning to the couple they were with to see if they were laughing too.  + + +There were no opportunities for me to speak with my girlfriend without the salesman eavesdropping. The presentation moved fast enough that looking anything up seemed like too much of a distraction. As skilled as they seemed at controlling my behavior, the whole thing was throwing up red flags. + + +Anyway, the presentation ended and our salesman led us to a table. On the way over there were other couples sitting out in the open with their assigned salesperson. They seemed excited about what they were hearing and excitedly signing papers. It was...weird. + + +We sit down and the salesman goes through the program in more detail. Here's where I get genuinely turned off. I work in IT, I'm about to finish my bachelor's degree, I don't think I'm a sucker but my love of science puts me at odds with a person who's giving me overwhelmingly biased information. He reiterates all of the great things about this program. He turns to my girlfriend, "what do you think about that?" "It sounds great!" Then he turns to me. "And what do you think about that? Is it something you'd want to do?" And I reply "Depending on the cost, yes, I'd do it!" + + +Next, he has us estimate the cost of a hotel we normally pay for. Then he asks us how many vacation days we take per year. This is fine and easy math. If the average cost is $115 per night, and you take 10 days, it's $1,150 per year in hotel costs. The "program" (timeshare but they completely avoid the term) lasts 20 years. It's still vague at this part but the salesman insists on focusing on how much we are gonna pay for these hotel rooms over the next 20 years. + + +Cost per year multiplied by 20 years is 23,000. But that's ***not*** the equation they're doing. They're not accounting for interest! Ah! It would be more over that time! How much does it really cost? About $250,000. They estimate that the hospitality industry has an inflation rate of 11%!! Everyone should have it ingrained in their heads that inflation across the entire economy (in America) has been around 3% per year.  + + +He was willing to tinker with the numbers but, generally speaking, we're spending a fuck ton of money on just hotels according to their calculations. And any close observers would note that the number **should have been much lower**. $1,300×20 years×1.1^20 = $174,914.99. I could have been wrong in my calculation but their cost estimate was obscenely high. + + +Disclaimer: As several people pointed out, some of that math is off and I used the incorrect equation (this does not change the conclusions). Here is a better description from a more qualified redditor /u/mowscut: + +>As an actuary, both yours and their calculators bothered me. No idea where 250k comes from, but your calculation assumes you’re paying the fully inflated price (in 20 years) for every payment. The full value is a simple future value of annuity certain formula which is P[(1+i)n -1]/i where i is the interest, n the number of payments and P the payment amount. This gives 1,300(1.120 -1)/.11~83,000. Which is also a crazy number, but formulaically appropriate. + + +Then he asks if we have any more questions. Uh, yeah, how much are we talking about here? They never mentioned up to this point how much it costs! But I'm skeptical and the questions I'm asking are things like how do you actually book a vacation? What happens if I change my mind about it? Is it transferrable? The salesman doesn't know the answers to these questions so a higher level salesman comes over. He's very happy to meet us. He loves the outfit I'm wearing. He compliments various other features and, with the limited amount of information I've provided, seems completely ready to compete with the other salesman for the title of my new best friend. + + +He answers some of my questions but can't provide any documentation to back up his claims. They still won't provide a price but they hand an iPad to my girlfriend to start filling out personal information. I look over and as soon as I see there's a field for the social security number I damn near slap it out of her hands. They were literally going to do a credit check to see how much the cost would be for us! Huge red flag for me. First, the inquiry shows up on your credit report. While that may not be so bad, I want to be informed on making a purchase and at least know a price range before taking that kind of step. + + +This throws the salesman off. Apparently, no one stops at this part of the process. The head sales guy says it's fine, and offers for us to check out a room which would be the type of room we'd be staying in if we join this program. *I still don't know how much this program costs*. We go and the salesman leaves my girlfriend and I alone to explore at our own pace.  + + +This is where I frantically looked for the Reddit thread where personal finance gurus say "GET THE FUCK OUT OF THERE, THEY KIDNAP REDDITORS LIKE YOU AND YOUR CLONE BECOMES A SALESMAN". I found a few threads, and they did warn against this, but they were at least a year old and it didn't all seem timely. + + +I couldn't find costs online either, so I thought to myself "how much per month would I be willing to pay for something like this?" I concluded $45 per month. But I still had misgivings about making a big commitment on such short notice when I couldn't even read anything like a contract. I'd rather go home and read independent reviews so I can be confident in my decision. I couldn't get to that point. + + +Once again we end up back at the table but this time the salesman has a laminated piece of paper with prices on it! I immediately I see huge numbers and realize why they waited so long to show it. They wanted approximately $130,000 for the total program. It would be $13,000 down to get started, and almost $500 per month.  + +(Note: when I did the math later, the actual cost we'd likely pay is around what they wanted for the program. But we'd be paying a fortune upfront and have a monthly payment. We could only go to where Wyndham had properties, which was in America or Australia or some islands, but if we wanted to go to Europe it would be through RCI, which cost about $300 per week. That's about the cost of an AirBnB in some locations, so if you're a smart traveller it may not be worth it at all.) + + +"Would you rather pay this?" The head salesman circles the $174,000. "Or this", he circles the $130,000. Ooga not want pay big number when ooga pay small number instead. I didn't want it. $45 dollars was as high as I'd go. + + +This is the part where they tried to pit my girlfriend against me in an amateurish attempt at manipulation. First, they go through the list of everything we ever told them about what we liked about the program (before we ever heard a price). They even sneak in a "you should be willing to sacrifice something for it" and gave a few examples like eating out less or having fewer cups of coffee from Starbucks. So I'm telling the salesman that this is way too expensive and once again the head sales guy shows up. He says things like "I thought you said you liked the program? You said it was a 10/10. Are you saying it's not a 10/10? You said you'd be willing to sacrifice for this!" He was getting irritated. Then he turned to my girlfriend and says "it doesn't sound like he's as rich as he says he is". At this point I was infuriated. Best friends don't say things like this to each other. But I held my cool. I looked him dead in the eye and firmly said "I'm gonna pass".  + + +But damn, the manipulation didn't stop and they didn't give up. They leave us alone to fill out a brief survey with a guy who definitely doesn't sell anything. So this guy shows up, introduces himself, and asks us about why we didn't buy it. I was truthful, it was too expensive and I wasn't willing to spend all that for it. I also felt pressured to make a big commitment on something that hours earlier I knew nothing about. So then he offers to sell us a "trial" program. It's a fraction of the price and it only lasts two years. It starts to be appealing, but then it is also limited to certain locations. I ask to see the contract and the guy says "what do you want me to do, sit here and read you a contract"? At that point he gets frustrated and offers to walk us to the exit. It had been 4 hours. We get our vouchers and leave. + +Tl;dr: it would have been a bad financial decision. + +Edit: There are a TON of stories in this thread from people who have had experiences with timeshares. They are all worth reading! +I see insightful posts get downvoted only because they lack a complete faith that eth isnt going to recover instantly. Pointing out that we reached the moon to people who bought in last month asking "Wheres the moon!?" is met with downvoting, as is pointing out we were in a bubble and it popped. (definition of a bubble: 50% drop in price in 6 months or less. We did it in one). + +Someone asked if buying at 400 and holding was a mistake. One reply said "We probably wont see 400 again this year, but youll make money if you hold longer than that", implying a positive outlook as we rally into next year. stands at -4 karma + +The reply to that just says "I think well definitely hit 400 before the end of summer." +8 + +On a technicals post from today we had this: http://imgur.com/a/4ziPQ + +Dude who didnt read the chart but is pretty sure that up arrow at the end is awesome: +53 + +Dude who read the chart and understands that arrow isnt predicting price, but has reason to believe things will look great in a very short time anyway: -5 + +This forum has been a great source of joy over the past 9 months, but its on its way to being a cult similar to /btc and /bitcoin. No where near that toxic yet (the mods here are great and dont censor bad press), but I worry it will continue to decline. The forum is flooded with bandwagoners who have no idea what anything going on with Ethereum is and (the important part), have no interest in learning. + +Thoughts, rebuttals, lamentations, downvotes? +[Original Post from two years ago](https://www.reddit.com/r/fatFIRE/comments/bukk9z/sharing_my_re_experience_currently_at_4_months/?utm_source=share&utm_medium=ios_app&utm_name=iossmf) + +I was fatFIREd two years ago. The writing was on the wall and I knew I would be laid off at some point, I just didn’t know when. Over the past two years, with some of my free time, I took up a competitive sport. This weekend I finally achieved a goal that I had been trying in this sport for 8 years. It reminded me how far I had gone since my original post, and I figure I would provide an update. + +1). I thought I would have a lot of time without a full time job. I ended up buying / running businesses in three different categories and run them as owner. I also started a non profit. And I went deep into two competitive sports, one in the winter and one in the summer. At one point it felt busier than when I was working full time. So eventually I hired managers for my businesses and just manage the mangers so I become an absentee owner. Less profit, but I bought my time back. + +2). My wife and I had been W2 earners almost our entire lives until I fatFIREd two years ago. Since then I’ve learned about tax breaks and deductions available to businesses, mostly from depreciation and tax credits. It’s eye opening and refreshing which helped with continued growth in our NW. + +3). One of my biggest regrets with my older kids was that I had almost zero recollection of their infant years because I was working so hard. Over the past two years I got to spend a ton of time with my youngest son. There was a sense of redemption and making up for lost time / memory. I was really really happy about that. + +4). In the original post I shared my mental health issues due to the stressful job. I was already back in decent shape when I was fatFIREd two years ago. Now I’d say I am mostly in a state of bliss. + +5). My wife still works a corporate job. Two years ago when I no longer had a corporate job, I did the math considered both going FIRE. I told my wife to share this with her boss. She was immediately promoted and then promoted again this year. + +6). Sometimes I do feel a lack of purpose, especially after I hired mangers and I basically fired myself from the day to day operations. When I did that I wanted to buy my time back, and now I sometimes feel I have too much time. But with covid I really don’t want to reduce their hours, not when I don’t really need the money but they need the job. After my youngest son enter kindergarten, I’ve considered working again for established non profits to advance causes that I care about. But then I look their pay, look at our marginal tax rate of over 50%, look at how much I am paying my managers in order for me to have time to do this job, and our daily portfolio swings, and ask what’s the point. I haven’t quite figured this one out yet. + +7). I’ve gotten really good at fixing things around the house and I’ve accumulated a great collection of tools. The other day I installed a level 2 EV charging station by myself. + +8). I am totally refreshed on geometry and soon algebra 2 to help my oldest son. It’s going to get more difficult when I have to relearn calculus. + +9). I started drinking wine almost every night and gained some covid weight... + +EDIT: I haven’t visited this forum for a while and I just sorted by best. I am proud to say that these days I usually make breakfast for my wife and kids lol. 20 years in financial services in the west coast, my biological clock wakes me up at 6. +What I'm reading is that we need to bail out companies in order to maintain jobs. Wouldn't it be far more efficient just to pay a UBI-type thing? (Note: I'm not advocating UBI *per se*, rather as a stop-gap in the current crisis.) + +Arguments/my reasoning: + +* If businesses are failing because no one is using them (e.g. air travel), then they are going to continue to need bailouts. Thinking bailouts are a one-time thing vs. ongoing UBI-type payments is unrealistic. + +* We've already seen companies using the cash to buy back stock. OK, we can put in legislation to stop that, but paying people would be far more efficient. + +* Giving working people money maintains money flow - working people buy necessities, rather than investments. + +* Medium/long-term, we would realise either a) we don't need this/that industry or b) this industry needs to be more efficient. It would provide a huge opportunity for innovation and entrepreneurship as people try to fill the vacuum left by collapsed companies. + +I am a complete econ-novice and my reasoning is probably super-naive, so I'm def here to learn! +This question came out of a discussion I had with someone. There is a proposal to build extremely small and dense (<250sqft) apartments in our city. One argument is that by increasing housing supply, there will be downward pressure on rent in the city. The counterargument is that because these apartments are more profitable per square foot (~$4/sqft vs ~$2/sqft), other landlords will use this to justify raising rents on larger units to match the overall rate. + +Intuitively I can see a case for either argument but I'm not sure which carriers more weight overall. When I tried looking, the main factors I saw that determines rent is location and number of bedrooms. How would you go about gauging the actual impact of this potential construction? +u/Peruvian_Bull + +Links to his DD on this: + +[https://www.reddit.com/r/Superstonk/comments/o4vzau/hyperinflation\_is\_coming\_the\_dollar\_endgame\_part/](https://www.reddit.com/r/Superstonk/comments/o4vzau/hyperinflation_is_coming_the_dollar_endgame_part/) + +[https://www.reddit.com/r/Superstonk/comments/o4w45f/hyperinflation\_is\_coming\_the\_dollar\_endgame\_part/](https://www.reddit.com/r/Superstonk/comments/o4w45f/hyperinflation_is_coming_the_dollar_endgame_part/) + +[https://www.reddit.com/r/Superstonk/comments/qassc0/hyperinflation\_is\_coming\_the\_dollar\_endgame\_part/](https://www.reddit.com/r/Superstonk/comments/qassc0/hyperinflation_is_coming_the_dollar_endgame_part/) + +Anyways, it's always cool when one of our DD writers nails it months (or in this case a FUCKING YEAR PLUS!!!) in advance and we can see all the idiots on TeeVee talking about how "nobody could have seen this coming!" while we just sit here and are all Leo DiCaprio meme "I READ THAT DD!!" + +If the bull makes his/her own post on this or comments on this one, make sure to upvote them! + +EDIT: the bull's post is LITERALLY right next to this one in "NEW" right now. AHAHAAHAHAHAHAHAHA. Also, get fukt hedgies, can't fight this level of synchronicity autisticallyismness. +Does anyone here have experience with large ($1-5m) crypto staking? I'm interested in participating but want to understand from other's experience the true realized risks and caveats to look out for (taxes, counter investments to hedge with, resources you use before starting to grow your stake portfolio, etc). + +I wanted to discuss this within this subreddit as there are completely different complexity to consider when looking to stake a few million vs a couple thousand. + +High-level Questions: + +- How much are you staking? + +- How are you facilitating your staking (exchange or setup)? + +- How does this impact taxes? Do you have to setup more specific tax strategies? I'm worried my current tax professional isn't well versed in the crypto investing world and not sure how to find someone to help me here. + +- With such a large investment amount, what are the strategies to hedge that you are using (outside of traditional other investments and not allocating more than 5% of your NW. Looking to see if there are any nontraditional hedges, similar to options trading)? + +- What resources did you use before starting your journey with FAT staking? + + +and finally: What did you wish you knew before you started your FAT crypto staking journey? + +Thank you! + + +edit: I am still reading through everything but wanted to take a moment to thank everyone who responded. You guys have blown me away with the guidance and insight provided here. +Maybe people are inclined to look at the past through rose-colored glasses, but it seems to be a common idea that in 1970s America, any man could graduate from high school, get a job at a local GM plant, buy a house with a white picket fence and raise a family on one income, and then retire with a full pension. Compare this to modern day America where young people graduate from college with mountains of debt, compete with 100 other applicants for minimum wage jobs, can't afford to buy a house or start a family, and are generally broke. + +How close is this to reality? Is there any solid evidence that it was easier to make a living in the past, or is this all just nostalgia? +I've been studying Ethereum's ecosystem very closely and I think we're heading in a very good direction. Protocol goals and projects are all aimed at building on top of a decentralized model (0x, Augur, Plasma, sharding). Ethereum devs are committed to keeping Ethereum decentralized at all costs and scaling solutions don't make trade offs with decentralization. + +At the end of the day, we all know decentralization is what really makes blockchain valuable. + +There's been talk recently that EOS will be the "Ethereum killer". People are excited about EOS's high performance and scaling capacity. So I decided to do my own research. TLDR I don't think so, EOS will not even come close to being the "Ethereum killer". + +I can confirm that EOS is a super high performance blockchain. Unfortunately, EOS will also likely be incredibly centralized. There's a high risk the top 20 block producers will end up becoming a rigid and powerful cartel. There will always be a demand for decentralization, and EOS will never be able to meet that need. It has pretty interesting tech though, I'd have to admit. + +Here's my [analysis on EOS if you want to learn more](http://storeofvalueblog.com/posts/a-deep-dive-into-eos/). + +EDIT: oh yeah, forgot to mention, EOS block producers can the power to freeze accounts (censorship) and even modify smart contract code without the permission of the account that deployed it. Definitely doesn't feel right, the top 20 block producers have too much power. +I am literally begging you guys — if there’s a fairly easy way to make some money from home, please enlighten me and educate me. I have been studying for my boards exam for almost 2 years now and can’t seem to pass this horrid medical exam. My whole life has just been on pause for almost 2 years now and I feel like a completely failure to myself and everyone around me who are all wondering when I’m going to pass this darn boards exam. I just feel like a total bum. Are there any legit easy ways of making money from home? + +I’ve tried signing up for some in the past and they make you pay a monthly fee — which defeats the whole purpose for me. Please let me know if you have any suggestions! Anything can help! Thank you for your time! +I recently started reading rich dad poor dad. The information to me is simple and seems to be true but is it actually true. Any more guidance on personal finance / hustle? +It seems like that rate would eat too much into your profits as the years go on or am I missing something? The rate of growth of that ETF doesn't seem to be sustainable, but ARKK seems very promising and I am a believer of Cathie Wood (CEO of ARKK ETF) after I did more research on her. + +As I am a beginner in investing and I am 32 looking at building a portfolio with short/mid/long term investments with a mix of ETFs, stocks, bonds, and cryptocurrency. I wanted to get advice from others on ARKK and specifically it's expense ratio and how it would affect my gains after 5+ years if I make it into a longer term investment. +**YouTube Premium Family (£18/m): cancelled** \- too good of a time sink esp. without annoying ads. + +**Netflix (£10/m): cancelled** \- too good of a time sink to keep around. Although many of the movies have amazing production values but still absolutely suck as movies. Zero reason to keep this around. + +**Amazon Prime (£7/m): cancelled** \- I stopped watching Prime a while ago but with Netflix cancelled I would likely use this which would be another time sink. The free delivery is awesome but I can’t help but think it is causing both us to order more things than needed. So, an experiment- let’s see how much we spend on postage a year and of it changes our spending habits when delivery is not free. + +**Disney Plus (£8/m): cancelled** \- this is amazing but I’m mostly caught up with MCU and will do another binge catch up for a month a couple of times later on in the year perhaps. + +Mostly I simply cannot afford to spend so much time watching videos in 2022. + +Is anyone else cancelling any video services and why? + +Edit: Updated cost of YouTube Premium Family +BABA has been trading around a 20 EV/EBITDA multiple.This is a company that has huge growth and very little debt.Yesterday Alibaba was fined 2.8 billion for monopolistic behavior.The bad sentiment around the fact that it’s a Chinese company has made it very undervalued.IMO this is where value investing and growth investing meet. +Real median wages have risen a good amount since the 79’s and early 80’s. As of 2019, we were at an all time high. However, other information states wages have been stagnant since the 1970’s. How can both be true? Or is one true and the other incorrect/misleading? + +https://www.pewresearch.org/fact-tank/2018/08/07/for-most-us-workers-real-wages-have-barely-budged-for-decades/?amp=1 + + + + +https://fred.stlouisfed.org/series/MEPAINUSA672N + + +Older data (2013): https://www.epi.org/publication/charting-wage-stagnation/ +Edit: I understand that I shouldn't listen to strangers opinions on the internet. However I had no idea where to even start. Now I have resources and information to educate myself on. + +I want to thank those of you who gave really sound advice. It's made this journey a little easier and less stressful. I wish you all happy, healthy and wealthy lives. + + + + + +I am 25 years old and the beneficiary of a $500,000 life insurance policy. No debt, around $40,000 in savings and $3,000 invested in crypto. I grew up in a poor family so I want this wealth to multiply and last for as long as it can. + +I feel a bit overwhelmed. I want to get this right, I'm not even sure what questions to ask. + +So if you had $500,000, what would you invest in? + +Do I let a brokerage invest for me? + +What is the best financial institution to use? + +How much should I put into a retirement account? + +Do I pretend I don't even have this money and let it earn interest until I retire? + +Is there a way to invest so I don't have to work unless I want to? + + +I know at the end of the day my financial freedom is my decision, however I don't think I'm going to get great advice from the people closest to me. + +Thank you for your time. +Hi everyone, + +I mainly invest in the EU and wanted to find an answer for a question that's been eating at me for some time. + +Given all that is happening geopolitically in the EU with regards to energy & effects on inflation & economy (for example italy and germany), how are the markets still at theses levels or even going up? + +The writing has been on the wall for a few months now, and unfortunately it doesn't seem like it will get better. I don't see anything but bearishness or huge bearishness. + +Can someone explain or tell me the other bullish view on the EU? Maybe I'm wrong and everything is awesome and will get better? +Look I just like to see nice eye catching things or something cute like wsb guyface but this new avatar for this community looks kind of weird and is a real eyesore to me. Like I can totally live with it but I would appreciate if u upvote so mods can see and gift us with a more aesthetically pleasing avatar. Anyone feel me? Hope no one is offended here. + +P.S. I would just write this whole thing in one line but a minimum of five hundred and sixty characters is required for this community.... or is it five hundred and sixty words? Not sure?? I guess I’ll just keep on writing because just imagine the heart attack I will have if I try posting this after typing this whole thing up and it doesn’t fit the requirement of at least five hundred and sixty words. Hope by now I reached five hundred and sixty words. So anyway pls gimme a new avatar!!! Thanks I love u all. +I have 2 friends that I've been preaching the good word of dividend investing and they just refuse to listen. " what will $2 a month get you?" They say. Too bad for them, I read a post the other day of someone investing around $550,000 and earning $5k a month. I'll be laughing at them in a few years. +A little background ... So I used to work for AT&T back in 2018... it was a great time and everything was nice. however, that was short lived. The company started to make drastic changes daily as well as constant product changes. On top of that they were closing stores like candy. My personal opinion ... AT&T wants to be Apple. However, nobody likes AT&T, they do not have a cult that follows them and they havn't done anything "innovational" in decades. Almost, every purchase/merger/new product they have came out with in the last 5 years has failed. all their new products pass the cost on to the consumer as they have their sales people tell them its going to save them money (until they see their first bill) the company has gone to complete shit and I believe that this lawsuit ([https://www.theverge.com/2021/3/5/22316163/sec-att-nonpublic-information-analysts-beat-quarterly-estimates](https://www.theverge.com/2021/3/5/22316163/sec-att-nonpublic-information-analysts-beat-quarterly-estimates)) is going to be the first of many. + +&#x200B; + +So what to do? I think this is going to be a huge money maker for PUT options. Even in the bullish of all markets AT&T failed to break an all time high as all its competitors did so. AT&T is dying and COVID just pushed it off the edge. They have so much debt and just keep going deeper and deeper into debt which is going to cause them to sell off many of the assets which is going to lower their revenue and lower growth over all. that are owned by corporate. Most locations are being switched to authorized retailers which if you don't know are kind of like franchises. However, AT&T has no quality control over these locations even though they will tell investors over and over that they do... However, as an insider, I will tell you what their control is... It comes in the form of credits. For ever 10 sales in an auth reatiler. 3 of them will be fraud. basically as their new business model will move forward I will say that they went with the decision to switch stores to auth retailers to lower cost and increase sales. (in the short-term this will seem good) however, in just one years time the truth will come out and they are going to release shocking results on losses basically making their Cellular rev worthless. This is bad because they are going to so much debt trying to expand to 5G. Their TV service is worthless. HBO max is substandard. Internet is the only thing that is good because fiber is so cheap right now. But they are not making money off it, They are just planning on getting everyone hooked on the price and probably just going to jack it up sometime this year. Not even to mention once 5G internet comes out (verzion and Tmobile). AT&T has once again missed this opp. So where is their rev going to come from in 2022? no idea, there is no growth left in the company and with all their debt they are worthless. Anyone with a brain would leave this telcom service +Considering the chip shortage has been going on for a year or so now, I'd expect some company to step in and start producing them. Is the barrier to entry too high? Trade secrets / patents? Something else? +Apparently there’s a new trend of people secretly working 2 jobs remotely and I immediately thought of this sub. + +Is this the real deal? Is anyone doing that now? Would love to hear how that’s going. +My username says it all really, from november 2014 to january 2015 I manually sent $1 worth of Bitcoin to more than 1000 random reddit users (using /r/changetip bot, sadly no longer operational). + +Back then a Bitcoin cost about $300 so I guess I should now change my username to Random170DollarTip ... + +Spent about 2 Bitcoin on this little operation, don't regret a thing! + +Original post from 6 years ago: +https://www.reddit.com/r/Bitcoin/comments/2s9le1/i_have_tipped_1_each_to_1000_people_on_reddit/ + +EDIT: +Added a few comments I got after tipping people. + +"Thank you for introducing me to BitCoin." + +"do people even care about cryptocurrency anymore?" + +"And why??" + +"Cool, thanks! What is it?" + +"Keep your fucking spam in /r/shitcoin, a**hole." + +"That's cool! thanks!" + +"Man, the bitcoin guys are getting desperate." + +"thanks!" + +EDIT 2: +WOW, thank you all for your kind words, I am truly humbled! A quote comes to mind that seems fitting: + +"Give and you shall receive, much more than you ever thought possible. Give and give again. Keep hoping, keep trying, keep giving! People who give will never be poor!” - Anne Frank + + And way to go /u/displaybeats, looking forward to reading your story a few years from now. :-) +There truly is no mentally taxing profession that those of us locked into day trading. Most day traders have therapists, psychiatric help basically being a requirement, and it’s really no wonder why. + +Of course we all make jokes, it’s part of the human condition to do so, but we’ve also all felt the despair of truly being Bogged, whether it’s selling too early or way too late. Knowing that financial freedom was as simple as destroying your laptop after you bought the token and then checking a week later is hard to come to grips with. + +Luckily, HappyCoin is here to solve this problem on two fronts. With 5% of all transactions reflected to $HAPPY owners, the **charity wallet** that the developers have set aside is designed to be the top holder and continue expanding as the token sees exponential activity. + +With the charity wallet, the team will decide on a **new mental health organization to donate to every Friday**, ensuring that we share the love and keep our ears to the ground and to our community on where $HAPPY could best be spread 😊 😊 😊 + +Otherwise, we’ll also be looking to give everyone a 2nd chance at those tokens you missed before. HOGE, SafeMoon, <insert Elon coin here>, whatever you might have been regretting selling out of or even outright ignoring, this is your chance to get in right at the beginning **(currently less than 100 holders!!!)** on a token with a **huge marketing team** and experienced developers behind them. + +So if you shorted DOGE, don’t despair. There’s still time to make more $HAPPY with the team having **renounced ownership** and **burned all LP**, making this project **unruggable**. An **extremely low market cap** **of $20k** (this coin **just started less than an half an hour ago** and the momentum already has been nothing short of, erm, crazy). It’s a testament to the marketing plan that has clearly been devised with every contingency in mind and every available tool being considered. + +On this holy holiday, let’s make the world a $HAPPY-er place! Starting of course with your wallet, so add some $HAPPY to your life and you’ll be able to show everyone that sweet smile, shit-eating grin even, when you let them know you found inner peace in finding success and contributing to goodwill, and outer peace in relaxing, work-free, in your quaint marble mansion. + +Links below: + +[Website](https://www.thehappycoin.co/) + +happy\_coinTG + +[Pancakeswap](https://exchange.pancakeswap.finance/#/swap?outputCurrency=0xb0b924c4a31b7d4581a7f78f57cee1e65736be1d) + +[Chart](https://poocoin.app/tokens/0xB0B924C4a31b7d4581a7F78F57ceE1E65736Be1D) +My grandfather worked his whole life as a farmer, acquiring as much land as possible and then leasing it out. Lived frugal and in debt his entire life to leave a huge estate for his children and died with holes in his work clothes and a estate worth $8 million from nothing. + +In the will, there's a clause that his children are unable to sell the land, only lease it. My mother fought it because she wanted the capital ($500k was her share at the time) to build a giant suburban mcmansion and vacation. Instead, she had to lease it for 20k passive income a year, and now her share is worth $1 million, half of which is going to me. + +He also set up college funds for all 10 grandchildren, bought them all their first cars ($3k shitboxes but still) and taught me how to shoot a gun and gave me his in his will. + +Truly a great man who cared for his family. I miss him every day. +&#x200B; + +Throwaway because numbers. + +I've been on this FIRE journey since I was 18. I've done pretty well for myself so far and am on track to retire by 40. But, I royally fucked up this week. This is just a reminder to everyone who can hopefully learn from my mistakes: never, ever let people find out how much money you have. Hide it at all costs & don't trust anyone. Also, I need advice. + +My mom was in town the other day and, while I was at work, I let her chill at my apartment before an appointment she had. That morning, I was working on some papers for a visa application. For the application, I have to account for my current income and assets ($115k/yr, $525k) and also include copies of my account statements. Those papers were on my desk in my bedroom in plain sight. + +I didn't think about it until she called me yesterday and flat out told me that she saw the papers on my desk. Then, she started crying and told me in very clear terms that she expected help. She then laid out (in detail) all the financial problems that she and the rest of my family were having. I honestly didn't know what to do or say so I just hung up. + +Yes, because I am socially inept and can't handle confrontation like that, I hung up... and ignored the next 4 calls and 5 texts she sent. I also ignored the calls from my siblings and aunt. So I am thinking that she talked to the rest of my family about this and told them that I am now ignoring her. $525k is basically an unlimited amount of money from her perspective and my family thought that I was just as poor as they are so, I get it? I understand how much of a shock that would have been for her. But, I wish I wasn't so careless. I had no idea she would go snooping in my bedroom. + +I don't know what to do now. I don't plan on ignoring my family forever and I can't talk to any of my friends about this so.... what would you do? OR if anyone here has actually dealt with a situation like this, advice on a way forward is greatly appreciated. I just feel like I've now become the family bank and everyone is going to constantly ask for a bailout. +https://www.cnbc.com/2020/08/12/uber-may-shut-down-temporarily-in-california.html + +- Uber would likely shut down temporarily for several months if a court does not overturn a recent ruling requiring it to classify its drivers as full-time employees, CEO Dara Khosrowshahi said in an interview with Stephanie Ruhle Wednesday on MSNBC. + +- Uber and rival Lyft both have about a week left to appeal a preliminary injunction granted by a California judge on Monday that will prohibit the companies from classifying their drivers as independent workers. +- If the appeal doesn’t work out for Uber, it will bank on voters to determine its fate in voting on on Proposition 22, which would exempt drivers for app-based transportation and delivery companies from being considered employees. +I have been following GME since mid-September and over that time I have banked myself a %1300 return in the process. However, the whole time I was a little puzzled with how severe the reactions from Wall Street have been, especially this week. "The company had more than 100% of its stock sold short! That's never happened before!", you say. I know, I know, but that's [not actually not a new thing](https://www.forbes.com/2006/08/25/naked-shorts-global-links-cx_lm_0825naked.html?sh=f59ff078400b). A short squeeze, even one of this magnitude, should have squoze by now with GME up more than 10x in the span of weeks. Something is just not right. **I think there is something much, much bigger going on here. Something big enough to blow up the entire financial system.** + +Here is my hypothesis: I think the hedge funds, clearing houses, and DTC executed a coordinated effort to put Game Stop out of business by conspiring to create a gargantuan number of counterfeit shares of GME, possibly 100-200% or more of the shares originally issued by Game Stop. In the process, they may have accidentally created a bomb that could blow up the entire system as we know it and we're seeing their efforts to cover this up unfold now. What is that bomb? **I believe retail investors may hold more than 100% of GME** (not just 100% of the float, more than 100% of the actual company). This would be definitive proof of illegal activity at the highest levels of the financial system. + +For you to follow this argument, you need to go read the white paper ["Counterfeiting Stock 2.0"](http://counterfeitingstock.com/CS2.0/CounterfeitingStock.html) so you understand how the hedge funds can create fake stock out of thin air and disguise it so it looks like real shares. They use these fake shares in [short attacks to drive the price of a company down until they put them into bankruptcy](https://seekingalpha-com.cdn.ampproject.org/v/s/seekingalpha.com/amp/instablog/11442671-gerald-klein/3096735-anatomy-of-a-short-attack?amp_js_v=a6&amp_gsa=1&usqp=mq331AQHKAFQArABIA%3D%3D). This practice seems to be widespread among hedge funds that go short. There is even a term for it, "strategic fails–to–deliver." Counterfeiting shares is extremely illegal (similar level to counterfeiting money) but it's very difficult to prove and even getting the court to approve subpoenas because of the way the financial industry has stacked the deck against investigations. + +This completely explains why so many levels of the financial system seem to be actively trying to get in the way of retail investors purchasing more GME. It's not just about a short squeeze, it's about their firms' very existence and their own personal freedom. We have the opportunity to put all these people in jail by proving that we own more than 100% of shares in existence. + +There are are **71 million shares** of GME that have ever been issued by the company. Institutions have reported to the SEC via [13F filings](https://fintel.io/so/us/gme) that they own more than **102,000,000 shares** (including the 13% of GME stock is owned by Ryan Cohen). Now, I don't know the delay/variance on these ownership numbers, but I think there is a pretty solid argument that close to 100% of GME is owned by these firms, if not more. + +Moreover, there are now more than 7 million people subscribed to r/wallstreetbets\~\~. I know lots of people here are sitting on a few hundred shares that they bought back when it was under $50. Some of us are even holding thousands. If the average number of shares owned by each subscriber is even close to 5-10, we have a very good shot at also owning a similarly enormous amount of GME.\~\~ **Even if the average was just 10 shares per legit subscriber, that puts the minimum retail position at about 30-50% of the entire company.** + +GME has been on the NYSE threshold list for almost a month. We don't have January data yet, but I just analyzed the data from the [SEC's fails–to–deliver list for December](https://www.sec.gov/data/foiadocsfailsdatahtm) (all 65,871 lines of it) and looked up the number of shares that were likely counterfeit. For comparison, I did the same for a couple random tickers. Most companies have close to no shares not show up. Of those that do, it's a relatively small number of shares. For example, two random companies: Lowes ($LOW, \~$125B market cap) had 13,960 shares fail to be delivered at its highest point that month, Boston Beer Company ($SAM, $11.5B market cap) had 295 shares fail to be delivered. + +How many shares of GME failed to deliver? **1,787,191.** As the white papers points out, the true number of counterfeit shares can be 20x this number. How bad do you think that number will be when we get the numbers for January? I'm willing to bet its many times that. Look at how that compares to other companies' stock: + +[Histogram showing number of shares that weren't delivered in December \(x-axis\) vs the number of companies that fall into that bin \(y-axis\). GME is an extreme outlier.](https://preview.redd.it/g723jvyhine61.png?width=445&format=png&auto=webp&s=39bad6c47b428d364de36e9888de35b79572d1da) + +I think this explains all the shenanigans going on the last few days. There is way too much counterfeit GME stock out there and DTC, the clearing houses, and the hedge funds are all in on it. That's why there has been such a coordinated effort to disrupt our ability to buy shares. **No real shares can be found** **and it's about to cause the system to fall apart.** + +*TLDR; We probably own way more of GME than we think and that is freaking out Wall Street because it could prove they've been up to some extremely illegal shit and the whole system could implode as a result.* + +Disclaimer: I'm just a starving engineering PhD student and I don't work in finance. I have no inside knowledge of how the financial system works and I may be wrong on some of this. This is not financial advice and you shouldn't trade based on it. I am book-smart but I still eat crayons like the rest of you. Obligatory rocket: **🚀** + +&#x200B; + +EDIT 0: Looks like I truly belong on this sub. On the first version of this post I didn't read the file description properly and summed a cumulative distribution. My numbers were wrong, but I have updated the plot and post with the correct numbers. + +EDIT 1: You should also note this is the distribution for NASDAQ tickers, not the entire NYSE. I doubt that the distribution trend is any different though. + +EDIT 2: Evidence that Fannie May and Freddie Mac were killed in 2008 via short attacks using counterfeit shares: [report](https://www.sec.gov/comments/s7-08-09/s70809-407a.pdf). Exactly what I think they were trying to do to GME. + +EDIT 3: A lot of people were hung up on the "3 shares per wsb subscriber thing". I know many accounts are bots, I was intentionally underestimating that number. I have adjusted to 10 shares per "legit subscriber" to reflect this without changing the total amount I think retail owns. + +EDIT 4: What I'm seeing on Twitter makes me think I'm being interpreted a little too hyperbolically when I say "Something big enough to blow up the entire financial system.**" We're not going to go back to mud huts, people.** This could just be really disruptive for a short amount of time and cause a number of firms to face liquidity problems, possibly bankrupting some of them. Life will go on and I'm confident regulators and government will step in and protect people if necessary. Hopefully they pay more attention to enforcing securities laws going forward to prevent this from happening again. + +EDIT 5: [Backup link for white paper.](https://web.archive.org/web/20210131014127/counterfeitingstock.com/CS2.0/CounterfeitingStock.html) + +EDIT 6: I am getting thousands of messages. I won't be able to respond to all of them. Here is an FAQ: + +1. *How do I learn investing?*I am not an authority on this, but my personal opinion is to first learn how to read a company's financial documents and value businesses and only then start thinking about putting your money into specific stocks. Read "the intelligent investor" by Benjamin Graham for this. Then learn how to think about picking stocks. I like Peter Lynch's books for this. +2. *What is going to happen this week?*I have no idea and I wouldn't dare to guess. +3. *Are you going to be killed?*I don't know where people are getting this idea. I have no special knowledge or insider contacts, and I am in no way, shape, or form an expert on the market or the system behind it. Please treat my tinfoil-hat conspiracy theories as just that. There is nothing to gain from harming me and I have no doubts about my safety. These are just personal opinions and I don't have any schemes to "take down the shorts" or anything like that. I do not advocate for you to buy, hold, or sell. I'm just postulating on how we might have found ourselves in this place. +The US investing options in India are still evolving. Here are my experiences with the options that I am currently using: + +Note: Do not worry about exchange rate and taxes. The amount of money that you will make in US will make forex cost and taxes look like peanuts. They are simply the cost of doing business. Don't lose the big stuff while worrying about small things. + +1. Vested. My first broker for US investing. Completely free for transactions, no AMC etc. Vested makes money on exchange rate spread. + +Pros: Easy process, online transfer through ICICI, HDFC. + +Cons: Very few stocks and ETFs. They simply don't have most of the tickers that I am looking for investing and most of the time it's a big disadvantage as you lose on opportunity. Also, no cash management option as of now. + + +2. Stockal. My second broker. Everything similar to Vested with some differences. + +Pros: More tickers available than Vested, but still not enough. The ones I am looking for are still not available on Stockal. It's also planning to bring Cash Management. It will give you an international debit card which you can use anywhere in the world. It's really good thing. + +3. IND Money. My third broker. Similar to Vested and Stockal. + +Pros: I have seen the maximum number of tickers on this platform. More than both Stockal and Vested. If I open an account today, this will be my first choice. + +Cons: Even this doesn't offer all the tickers, but enough for making investing worthwhile. Also, no cash management as of yet. + +All the three platforms have tied up with DriveWealth and thus money transfer is exactly the same. I have seen my transfers through ICICI reflect in the trading account within as less as 5 hours and maximum 2 working days. + + +However, I was still not satisfied with these options. Finally, I opened a Charles Schwab International Account. I see there are lot of misinformation going on here regarding Charles Schwab, so let me correct them. + +1. Trading on Charles Schwab is free. There are no transactional charges. Same like Vested or Stockal. No AMC either. + +2. Minimum account opening requirement of $25,000 is just indicative. It's not enforced. + +3. It's a full service broker, so all the tickers that exist in the market are available for you. + +4. Account opening took two hours, approval withing 2 days. + +5. You send money exactly like you do for Vested and Stockal. Add a beneficiary in ICICI Money to World platform and then send. + +6. Cash management: Charles schwab will give you an international debit card which you can use anywhere in the world. Basically, you can treat your spare cash in the trading account as a savings account. + +TL;DR: If you want an Indian platform, use Stockal or IND Money. If you are too ambitious, just go for Charles Schwab and be set for life. It will be with you forever, wherever you go. + + +Edit: Haven't used but Winvesta looks like a good option. It has most of the tickers that I was looking for. +I was really hoping my last post on bearish total return swaps would be my only - But, out of the shadows I return, and with good reason. Some of you know my background, please feel free to check my post from August but I work at one of the larger banks on WS in sales and trading. I really hope this will actually be my last post so that I can disappear into the shadows (preferably to my 50th story penthouse when this is over) for good. + +I’ve been noticing that many DRS posts lose steam and failing to remain in the top posts or most upvoted posts only to be eclipsed by posts about Ken lying, fuckery, the SEC’s masturbation problem amongst many other things – AND THIS COULD BE THE BIGGEST MISTAKE WE MAKE. + +As a community over 500k to 1million between the subs and possibly the same if not, a great number of lurkers not even subscribed or that have Reddit, we finally unlocked the key to the MOASS that is Direct Registration and it was right there in front of us all along. + +This post won’t have any memes or any one-liners’ to keep you all entertained, this is all business, and really do hope you read the whole thing. + +I’ve spent the last week asking many equity traders/salespeople downstairs about what the impacts of DRS will have when we lock the “free float” in Computershare and in summary, there are two words: END GAME. I know we have heard this so many times now, but we finally pushed the ace that has been up our own sleeves this whole time to the forefront. Every single person that I have consulted at work that trades equities has said along the lines of the same exact thing. **When (not if) the entire free float (roughly 30-35 million when you remove institutions and insiders) is locked in Computershare. An alarm bell will be raised to GameStop Execs who will finally have it in their power to drop the fucking hammer. No matter what cheap talk the SEC or MSM says, this presents irrefutable proof that everything that had been claimed all along was true and gives GME the kill switch to enable a share recall for all GME shares that are outside of CS. (THIS MEANS MARKET MAKERS WILL BE FORCED TO LIQUIDATE ANY AND ALL SHORT POSITIONS)** This is not speculation, it is written in stone. If GME pulls the kill switch, high-frequency trading will kick in attempting to unwind this nightmare thus triggering the End Game. + +I’m tired of seeing posts saying, “only DRS 20%”, “only whatever you feel comfortable” – FUCK THAT and FUCK THOSE PEOPLE. This entire community has the SHF’s and Market Makers on their knees, with the kill shot only inches away. Letting up now by buying into that nonsense would only hinder our progress. If you know you have them on the ropes, only transferring a small portion of your shares does nothing but slow us down and weaken the message we are about to send. + +This is the bottom of the 9th, and the bases are fucking loaded. Don’t fuck this up. DRS should be used to move 80%+ of your shares if not all of them. It is the only solution to accelerate what we have all waited months for. This is the final push, and we have nuclear launch codes sitting in our hands. Enough is enough. BUY HODL & DRS. + +It's also important that we know where we stand. There is no need to post account numbers or blur out info. By using simple photoshop, you can post what factor in the thousands we are up to in account numbers so we can really track our DRS progress. If you are going to buy more, and are ok with waiting a week, then do so in CS; if not, then purchase in fidelity or another reliable broker that day and initiate a transfer when the shares settle. + +Acceleration is key, the faster we lock the float, the less time they have on their side to attempt to weasel their way out of the impending shitstorm. We all know Kenny lied, we all know the SEC is complicit, we all know the system is rigged, but now more than ever, none of that matters… WE NEED TO DELIVER THE KILLSHOT. + +I forgot who said it, but if retail wanted to end this, they could have done it a long time ago by doing the hard thing that no one ever does and just asking for their shares. D.R.S. + +We need to track where we are in account numbers at computer share (without disclosing personal info and full account numbers of course), We need to ensure that everyone has no fear in making the leap. We need to help each other understand the steps to transfer and why every single X or XX account matters. It’s time to finish the fight (halo voice). This is the fucking spirit bomb right now and Ken Griffin and the rest of these fucks that have been plaguing our free markets for decades now are on the receiving end of it. + +Enough of the 20% narrative that is being pushed, enough of those thoughts in your head that “if everyone else does it then I don’t need to”. FUCK THAT. Every single one of those shares counts. + +\-Also, do not worry about a 1 million limit in CS, we have seen time after time that companies change their limits and tech as situations unfold. You can be almost certain that when the time comes CS will adapt and allow us the transact in the millions. + +TL:DR-A Free Float lockup in Computershare **WILL** trigger the MOASS + +**-We need to be promoting DRS above all else as it is the ace up our sleeve** + +\-We need a way of tracking the number of accounts that have been signed up each day (new account numbers are linear) + +\-Computershare is the safest place to hold your shares and will be an easy interface when it does come time to sell, or not, bc what the fuck is an exit plan? + +Don’t let up, don’t take the pressure off, don’t let them get off easy like they did in 08’… lets end this, once and for all. + +BUY HODL & DRS. + +But what do I know, I’m retarded - I’ll see you all on the other side. + + +not financial advice by any means** + +Also important: + +https://www.reddit.com/r/Superstonk/comments/ptvaka/when_you_wish_upon_a_star_a_complete_guide_to +Title says it all, I’m a very young adult with a few thousand in my bank and I feel very uneasy knowing that there is a high possibility that there’s gonna be a huge economic crisis that could mirror or be even worse than the Great Depression. What should I do with the few thousand I have in my bank now? Invest it in gold? Leave it in my bank? Pull it all out into cash? Please leave your suggestions, I want to get moving as soon as possible. Thanks. +According to the IMF ([https://en.wikipedia.org/wiki/List\_of\_countries\_by\_government\_spending\_as\_percentage\_of\_GDP](https://en.wikipedia.org/wiki/List_of_countries_by_government_spending_as_percentage_of_GDP)), + +&#x200B; + +||% of spending|% of revenue| +|:-|:-|:-| +|**capitalist**||| +|USA| 46.179 | 30.337 | +|France| 62.4| 52.51| +|Netherlands| 46.89| 41.32| +|Canada| 52.45| 41.79| +|Australia| 44.98| 35.03| +|**socialist**||| +|China| 36.98 |25.59| +|Venezuela|10.93| 5.89| +|Vietnam| 21.59| 16.17| + +How does this make sense? Shouldn't most or all of the economic activity be by the government in these countries? + +Does % of GDP by the government somehow not measure the degree of government involvement in the economy? + +I'm confused. +I initially posted a screenshot of a comment that was discrediting one of our valued DD writers, u/-einfachman- + +In my hasty, weary moment, I knee jerk reacted to yet another post pointing to timeframes for the big squoze. In my moment of reactivity, I realize now that my post backhandedly called out our friend for misinformation and FUD hype, but being the gentleman he is, he DM’d me after clarifying his standpoint, and wrinkled me up. + +YO. PEOPLE. + +RC BOUGHT BILLIONAIRE FD’s, WITH AN EXPIRATION DATE. + +My 6 or 7 brain cells (probably 6) never computed the expiration date part of the whole option thing, and defaulted to thinking about common stock (like I do) + +Anyways, I just know a bunch of people saw and commented, and awarded the previous post, but 4 hours later, I have matured and grown, and no longer feel the same way. The post has been deleted to prevent further misinformation. + +u/-einfachman- - thank you for being so polite, understanding, and going even further, by kindly elaborating without coming off as defensive or condescending. This guy is a good APE y’all. + +Apologies again. + +Edit: I just woke up. Holy shit y’all. You’re too kind. Damn lol. + +Edit 2: Y’all really aren’t too familiar with integrity eh? I guess I was just raised to admit my wrongs. It’s easier than holding onto them, and makes the path forward smoother 99/100 times. All we have in this fucked up world is our integrity. Just own your mistakes, and learn stuff. Never be too proud. This is the way! +Long story short, recently saw a Financial Planner as I was about to make my first home purchase. It was a stressful time and I was looking to consult a professional to make sure I could afford long-term. I'm not financially illiterate but I'm not an expert, especially with things like forecasting how finances can affect my future long-term. In retrospect, I really should have seemed multiple planners but ended up going with the one due to time restrictions in the property search (pre-approval and the like). This planner wasn't exactly badly reviewed. + +The process seemed legit, starting off with an SOA (Statement of Advice) being issued and a good amount of questions and direction from me. I wasn't quite sure what this document would entail but basically, it had some basic general advice (skewed a little bit) followed by switching my super to their fund and buying some life insurance through them. I got the piece of paper with this advice and found out that they would cost 11% of my total super to engage for the entire year which is huge. There was more content of disclaimers than actual advice. Probably only 3 pages of actual numbers. + +Basically, after a year of engagement, I'd be worse off financially than if I hadn't engaged them at all. I should have read between the lines but this wasn't clear during the engagement phase. + +Anyway, I coughed up the amount for the SOA (a month's salary) because I had signed for it, but I feel like they shouldn't have engaged me if I was going to be financially worse off after their services. The percentages weren't made clear until the advice was issued which was basically a glorified fee proposal. + +Anyway, let this be a warning to you all to really hone in on what you're getting if you do seek it and decide if it's not something you can figure out yourself. It was a waste of time and money for me and can't help but feel I was tricked as I'm not an expert in this field. I've put it down to a hard lesson learnt. +What I'm reading is that we need to bail out companies in order to maintain jobs. Wouldn't it be far more efficient just to pay a UBI-type thing? (Note: I'm not advocating UBI *per se*, rather as a stop-gap in the current crisis.) + +Arguments/my reasoning: + +* If businesses are failing because no one is using them (e.g. air travel), then they are going to continue to need bailouts. Thinking bailouts are a one-time thing vs. ongoing UBI-type payments is unrealistic. + +* We've already seen companies using the cash to buy back stock. OK, we can put in legislation to stop that, but paying people would be far more efficient. + +* Giving working people money maintains money flow - working people buy necessities, rather than investments. + +* Medium/long-term, we would realise either a) we don't need this/that industry or b) this industry needs to be more efficient. It would provide a huge opportunity for innovation and entrepreneurship as people try to fill the vacuum left by collapsed companies. + +I am a complete econ-novice and my reasoning is probably super-naive, so I'm def here to learn! +With the increase in money supply, as well as general expansionary fiscal and monetary policies, combined with prolonged supply shocks due to COVID, why hasn’t the US experienced hyperinflation? If it is at least partially due to decreased consumer demand thanks to quarantine, considering most states or opening up- especially ones with large economies like California and New York- do you expect inflation to soar? +Look. There is literally no need for anyone to post their "gains" with posts like "I'M UP 50K, 100K, 200K AND IM NOT SELLING!!!!". It's almost as a way to bypass the "no gain post" rule to me. + +We DO NOT need to know how much gains you have in your account. It honestly feels like the FUD a couple of weeks ago where shills were posing as XX,XXX or X,XXX holder to create a divide between the apes. + +JUST SIMPLY BUY AND HODL. 💎🙌🦍🚀 + +Edit: For those that are wondering where are these "gain posts" I am talking about? I made this post immediately after seeing a highly upvoted post titled something like "wife telling me to sell after up 36k", checking the comments I noticed multiple comments talking about the same thing "I'm up 100k", "up 240k as a college student.". I knew instantly this wasn't right and here's this post to bring attention to this issue. + +&#x200B; + +Furthermore, I have never been so happy and honoured to be a fellow ape 🦍, I really mean it. Therefore, I wish for everyone to stay vigilant and help each other by downvoting and reporting any *potential FUD* before it has the chance to spread. 🚀🚀🚀 + + +Not financial advice, just a smooth brained ape here who happens to love the stock. +# October 17-23, 1921 + +This week, the FT coaches investors on the stock market's seasonal gloom and France reveals German attempts to game war reparations. + +Quick Stats: + +* DJIA: 70.77 (Today: 35,295) +* Shiller PE Ratio: 5.5 (Today: 38.1) +* Federal Reserve Bank of NY Discount Rate: 5.0% (Today: 0.25%) +* GBPUSD: $3.92 (Today: $1.37) +* Price of The Wall Street Journal: $0.07 (Today: $4.00) + +Market-Moving Themes: + +* High taxes, soft business conditions, and elevated interest rates are negatively impacting investor sentiment (equity, debt markets) +* Wartime raw material shortages are easing, paving way for price stability (commodity markets) +* European post-war debt payments are causing a strong dollar as gold flows to the United States (currency markets) + +Executive Summary: + +* Markets are driven by both fundamentals and sentiment. As readers head into the heart of fall, the FT reminds readers about the impending gloom. The Dow has been mired in a range between 65 and 75 since the spring. Any perkiness in the summer was quickly sold off. Investors should brace themselves for some negative movements, but not get too defensive because the current bear market seems to have plateaued. +* Bankers criss-crossed the nation a few weeks ago and are eager to share their findings. East Coast blues were met with West Coast bliss. One banker didn’t realize how nice the weather is in Los Angeles. He thinks that part of the issue with ongoing market weakness has more to do with psychology than anything else. He encourages readers to get some fresh air. +* France calls out Berlin for monetary fraud. The French government illustrates the complete suicide of the German mark, which has gone from record low to record low this year. The monetary games need to stop, France warns. The appraisement of the mark is no longer governed by the valuation of Germany’s creditworthiness or her resources, but by the question of her honesty in the execution of the Treaty of Versailles. +* Rumors of Royal Dutch Shell exiting Mexico send shockwaves through the press. Some sources claim that Royal Dutch has sold down its Mexican subsidiary, but brokerages across London have not seen any evidence of this. Shares of Mexican oil companies get slammed. Is Royal Dutch planting these claims to get something from the Mexican government? One former Standard Oil executive turned private investor thinks so. If not, he’d happily sink his entire life savings into Mexican oil fields. +* The prominent German industrialist Hugo Stinnes suggests a fringe dictatorship might seize power because the poorly drawn up armistice extracts too great a toll on the Teutonic nation. He reckons that one of the infant right wing parties could take power some day. Whatever the case, trouble is brewing. + +[https://twitter.com/Roaring20sTate](https://twitter.com/Roaring20sTate) + +More @ [https://roaring20s.substack.com/p/october-17-1921](https://roaring20s.substack.com/p/october-17-1921) +I’m currently working for a engineering consultancy (non-tech) that has begun offshoring all work, even that was historically done locally. Now we just have mechanical engineers in India doing all the engineering work and local engineers have been let go. They are paid approximately 1/3 of the Australian salaries. The only people left are handful of project managers that require face to face meetings with the client. + +If all jobs can be done WFH, wouldn’t every company do this in the long run? +&#x200B; + + This is a covid diagnostic company with several pop up sites all over the US. +Since Mid Jan the number of covid cases has dropped off significantly and vaccines are rolling out. + + +If you [google ](https://www.tradingview.com/symbols/NASDAQ-GOOG/)new covid cases for US you can see it has dropped significantly since mid jan and has flatlined, which correlates very well with this stock. If you look at Canada you can see covid cases starting to ramp up again. + + +Currently I believe the market is making the assumption that we are homefree will no longer need testing and thus MEDV is done for, but I do not believe that this is the case and there are several things that the market is failing to take into account + + +1) 5 million dollars in cash was raised in Jan at 0.25 +2) They have generated a ton of revenue with decent margins on their test of 55% and have generated a decent size of revenue since they have started testing, so they are likely at strong financial position. +3) A third wave will likely lead to more cases +4) Vaccination is not necessarily permenant so people will need testing to confirm if they show immunity through testing. +5) There will likely be some kind of requirement whether vaccinated or not to confirm immunity for indoor functions . as you can see in [cali ](https://www.tradingview.com/symbols/CSE-CALI/)this is the case. +[https://www.nbcsandiego.com/news/local/c...](https://www.nbcsandiego.com/news/local/covid-19-tests-or-proof-of-vaccination-required-for-indoor-meetings-receptions-conferences-in-california/2567965/?amp) +I am sure there will be similar requirements throughout America in efforts to control the outbreak. +6) At Jan on their highest amount of business they generated 7.1 m in rev based on 73,973 Tests at an Average Price of $96 . For February they generated 3 m rev based on 20,574 Tests at an Average Price of $99 per Test .On their worst month for march they generated 2 million in revenue based on 20,574 Tests at an Average Price of $99 per Test. +So for this 3 months they generated 12 m in revenue and if we assume 50% margins that's 6M cash in addition to that 5 m they have raised putting them at 11 million cash on hand so far. These are rough estimates but +Their marketcap is only 36.6 m . I believe with the upcoming third wave and taking these other factors into consideration testing will be required at least for the midterm. By that time this company would had generated a great deal of revenue and possibly even have a cash position near the current marketcap of 36.6. + + +Here is also another thought in regards to telemedicine. +Their pop up locations is quite interesting and can have many implications for a tele diagnostic features, especially for rural areas, where they can do other diagnosis beyond Covid-19, in which they would have an assistant that will be at the physical location in charge of the equipment while the doctor will be interviewing the patient. This has got me thinking about the limitations of conventional telemedicine as most people will likely have a cheap webcam and microphone making the diagnosis through telemedicine quite limited, so with standardized equipment across multiple locations it can lead to better quality diagnosis from doctors. + + +When this is implemented they would have generated a lot of revenue and profits and have these pop up sites across multiple locations already. + + +TA: +Refer to this chart: [https://www.tradingview.com/x/tdnB7Bh4/](https://www.tradingview.com/x/tdnB7Bh4/) + +Here is the [technical analysis](https://www.tradingview.com/ideas/technicalanalysis/) so far, which of course looks quite [bearish](https://www.tradingview.com/ideas/bearish/) as we are in a strong downtrend. However, here are some [bullish](https://www.tradingview.com/ideas/bullish/) factors. +1) We can see we broke this trendline and it may be going for the retest of the trendline +2)We have support at 0.17 +3) We have decreasing [volume](https://www.tradingview.com/ideas/volume/) along this downtrend, indicating that it a trend that should not be trusted. +4) We have a possible [bullish divergence](https://www.tradingview.com/ideas/bullishdivergence/) forming, but we will need strong green day to confirm this divergence. + + +Based on the reasons I listed I believe [DCA ](https://www.tradingview.com/symbols/FWB-DCA/)into this can be quite rewarding for both short term and long term. +Look. There is literally no need for anyone to post their "gains" with posts like "I'M UP 50K, 100K, 200K AND IM NOT SELLING!!!!". It's almost as a way to bypass the "no gain post" rule to me. + +We DO NOT need to know how much gains you have in your account. It honestly feels like the FUD a couple of weeks ago where shills were posing as XX,XXX or X,XXX holder to create a divide between the apes. + +JUST SIMPLY BUY AND HODL. 💎🙌🦍🚀 + +Edit: For those that are wondering where are these "gain posts" I am talking about? I made this post immediately after seeing a highly upvoted post titled something like "wife telling me to sell after up 36k", checking the comments I noticed multiple comments talking about the same thing "I'm up 100k", "up 240k as a college student.". I knew instantly this wasn't right and here's this post to bring attention to this issue. + +&#x200B; + +Furthermore, I have never been so happy and honoured to be a fellow ape 🦍, I really mean it. Therefore, I wish for everyone to stay vigilant and help each other by downvoting and reporting any *potential FUD* before it has the chance to spread. 🚀🚀🚀 + + +Not financial advice, just a smooth brained ape here who happens to love the stock. +My partner and I make combined $150,000 and we have a morgage of $600,000. We are first home buyers and bought at the worst possible time in history (earlier this year) + +We don’t like waiting around so we look up what the banks are expecting the terminal rate to be and increase our repayments to match it. Current estimates are 3.85 giving a 6.05 morgage rate. + +It’s pretty crazy how expensive that is, it’s above our stress test thresholds and am pretty much saving nothing now. + +I feel pretty unlucky to be a first home buyer at this time. Very jealous of all the people with paid off or paid down mortgages or lots of equity. Everyone wanting rates to go crazy high clearly don’t care about young people who are trying to get started. + +I think we are going to rent out one of our bedrooms +Wyoming has a small tax base (being the least populous state in the US), but also low tax rates. However, the state also has a very large area for its population. Therefore, I wondered, how does the state maintain services? For example, Wyoming has the largest Interstate mile-to-people ratio for Interstate highways, how does it pay to maintain all of it? It doesn't seem like there could be a lot of government income. +As a banker, I worked with highly efficient corporates in the first four years of my career. It was a wake-up call on how I handled my own money. Now I work as a branch manager. It pains me to see how much worse other people are with their money. So I decided to make a list of common rookie mistakes that people do with their money. + +&#x200B; + +If you aren’t doing any of these, you are already a cut above the rest of India. I did some of the mistakes mentioned below as well, but I can safely say I won’t be doing them again. So here they are: + +&#x200B; + +* Buying no-cost EMI even if you have enough money to buy it outright. Your no-Cost EMI actually costs more than an outright purchase. How? The interest levied on credit cards are subject to GST. This GST is added to your credit card bill. Credit card companies claim input credit on this and profit as they have to pay less GST now.(Example, if you buy a product for Rs 12000 on a 12 month EMI plan, you pay Rs 745 as interest over the 12 month period and 11255 as principal, totaling to Rs. 12,000. However, you will also additionally incur GST of 745 x 18% = Rs. 134.10 over the 12 month period.) +* Using insurance as an investment. Insurance is supposed to be a hedge against uncertainty. Stop investing in Unit Linked Insurance Plans. If you are looking to invest, put it in mutual funds. If you need insurance, invest in a term plan. + +&#x200B; + +* Taking out loans on depreciating assets. A home loan might be excused, since + * they have tax benefits + * the asset (land) might appreciate if you invested in the correct location + * The interest rate is low + +(But any other loan like car loans, personal loans, etc. are a no-no. The interest rate is much higher than inflation and you are buying a depreciating asset. [Delayed gratification](https://en.wikipedia.org/wiki/Stanford_marshmallow_experiment) works wonders for your financial health; I learned the hard way) + +&#x200B; + +* Keeping money idle. FDs hardly beat inflation. But people keep large sums of money lying around in their savings account, let alone invest in FDs. The corporates I worked with would immediately transfer excess (I repeat, excess) cash to a liquid fund. As instant redemption has been capped now, liquid funds are no longer attractive. The next best thing you can do is keeping an automatic sweep above a certain balance to FDs. Banks usually allow this for clients who maintain more than 10 lakhs in their current/savings account. + +&#x200B; + +* Not going through your Bank statement once in a while. No bank system is foolproof. Charges can be levied accidentally due to random technical issues. + +&#x200B; + +* Paying higher interest on your loans. RBI has ordered all loans to be linked to a benchmark called repo rate from October 1, 2019. It is cheaper by about 1% (currently) than their previous benchmark (called marginal cost of lending rate – MCLR). Since RBI only ordered new loans to be linked to it, loans taken earlier will continue to be in MCLR unless you specifically request to reduce your interest rate. + +&#x200B; + +Edit: formatting +Edit #2: MCLR is costlier than repo rate by about 1% currently for most banks. But the difference can reduce going forward. +Edit #3: My first award. Thank you kind stranger +_Edit3: I am not saying El Salvador is the cause of the drop. Just trying to point out lots of shit happens in the crypto world that can cause price swings._ + +Example is the post with like 8K+ upvotes with a generic claim about SHFs needing liquidity without a shred of proof. + +Now with the latest drop of cryptic currency, if you even follow that scene just a little bit you’d know that El Salvador was adopting crypto today as a currency. Fuckery going on? Maybe. Related to GME? Most likely not. + +Also if you follow that scene you’d know it went up from 30K to 50K in about a month or so. A drop of 10-20% is nothing new in that scene especially if the low point only touched the -20% for a minute. + +Just look at the 1m vs 15m chart. https://imgur.com/a/6JfO7pt + +Also during the years it is very clear that Bitchcoin dictates movements in that market since almost everything is pegged to it. So it is no surprise that if that coin drops, the rest drops. It has been this way for years. + +I am all for solid DD but the posts like the one I mentioned really make us look like idiots especially if you follow the cryptic market. Truth is that not everything in the world revolves around or is linked to GME. + +TLDR; buy and hold, don’t take everything you see here as fact especially when no proof is given. + +Edit: some spelling + +Edit2: specially for u/rzr-12: 🚀🚀🚀🚀💎🙏🏽💎🚀🚀🚀 +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! + +***UPDATE IS POSTED ON r/KindVoice + +I originally posted this on r/kindvoice and was recommended to post here for advice on the financial side of this situation. + +This story is long and complicated, but here's a sort of summary. + +I met my roommate on a dating site a little over a year ago. We went out once but ended up becoming friends instead of dating. In January she went through some stuff with her roommates and ended up staying with me at my sister's house where I was renting a room. I purchased a condo at that time, got the keys on February 1st. I let my friend move in rent free because she was still paying rent at the other apartment until May. Since January she's taken advantage of me in many ways - financially and emotionally. I basically supported her for a bit because she lost her job. I have about $14,000 in credit card debt, much of which has racked up because of her. In May, she scraped the side of my car along my garage, didn't offer an apology, and expected me to use my insurance to pay for the damages. She borrowed money from me countless times, asking me for gas money, expecting me to buy groceries, and always saying "thank you" profusely. + + +I don't know when I realized that she didn't intend to pay me back, but today I went to the bank to see about debt consolidation. I was denied a loan from my longtime bank because of the sudden increase in my balances. I walked out of the bank, sat in my car and cried. I know I still have options, but it was overwhelming. Not only are there financial difficulties - she's difficult to live with. She doesn't flush the toilet, she calls my dog "our dog" but never takes her out or plays with her (unless it's for her Snapchat story), she uses my makeup and brushes, and has been making some mean comments lately. I don't understand why she is treating me this way - there was no foreshadowing before she moved in. I know I gave too much, I enabled her. But she's 26, she should never have taken advantage of me this way and I don't think I can respect her anymore. I have a hard time trusting people and she's broken my trust so many times now. + + +I need to tell her to move out. Or maybe I can stick this out, but a talk needs to happen. I'm not good with confrontation and I don't know what to say. I feel like the bad guy. She has nowhere to go and I have no one else to move in. + +If you have read this far, thank you. I don't really have anyone to talk to about this. Everyone else has stuff of their own and I hate bothering people. Thank you. + +Edit: many people are assuming I'm a male. I am a 22 yo female. +Hey everyone, just a mere anon degen here. Every once in a while an investment opportunity comes up that is so exciting you can’t help but share it. So hi. Hear me out :) (not financial advice) + +PinkPanda DeFi launched just a week ago and are building a mobile app for 5x leveraged trading on BSC. That’s cool, but can they deliver? Well apparently yes! Since they’ve released the first version of their app after only a week! + +What’s more, PinkPanda has MASSIVE meme appeal. You should see the DELUGE of memes on Twitter about PinkPanda. Plus, influencers are going crazy about it. Moneytalk, FinanceBull, Stiggybuys, Natethewinner, etc. the list goes on and on. There are even rumors that a collab with Tyler Hill is already in the works. + +And then the most important reason imo. The community is absolutely nuts. These fucking pandas eat dip like they’re STARVING and have hands made of goddamn solid diamond. Constant shilling, all over the internet. Idk what’s gonna happen over the next few weeks but one thing I know is the panda community will take everything over imo tbqh. Here’s one of the popular battle cry of the panda army: “WEN BAMBOO.” When a poor telegram server hears this batty cry, they quake in fear knowing that the panda army will come to burn their women and rape their churches. + +TG:@PinkPandaDeFi + +Website: pinkpanda.finance +I’m genuinely curious who has made it as a full time day trader AND has been doing this for more than 5 years AND is profitable. + +I’m convinced there are are a tiny percentage of people and that this sub is mostly people with hopes and dreams like I had. + +After 2 years of doing this full time, I’m done. I’ve lost so much money and equally this lifestyle is complete shit. + +This “be your own boss” thing is a pipe dream when you’re going to be thinking about the markets 24/7 whether you want to or not. + +Randomly waking up in the middle of the night checking futures. + +Gaining weight because you’ve lost interest in your other active hobbies. + +Sorry to shit on full time day traders… maybe your experience has been better than mine. Please let me know. But I am looking for +5 years and profitable. + +Because if you’ve done well the in like the past year or two , you could just be a statistically anomaly. I’m convinced most people can’t make this a full time thing for like decade and be consistently profitable. +I'm from Kenya but have lived in the U.S. and now Southern Ireland (Rep. of Ireland). My dad who is 50 says that when he was growing up in the 80s, he remembers how Ireland was always seen as a pretty poor and violent country in Western Europe. + +&#x200B; + +In less than a decade, it's gone from very poor to even doing better when it comes to GDP per capita than the UK. +Covers a lot of ground as usual- cryptocurrencies, China, renewable energy, and, of course, Costco + +[https://www.theaustralian.com.au/business/markets/market-now-is-crazier-than-the-dotcom-era-says-berkshire-hathaway-vice-chairman-charlie-munger/news-story/57f87655d1d16575a371925be7cffa8b](https://www.theaustralian.com.au/business/markets/market-now-is-crazier-than-the-dotcom-era-says-berkshire-hathaway-vice-chairman-charlie-munger/news-story/57f87655d1d16575a371925be7cffa8b) +Hello everyone. I am a tenured finance professor at the Midwest school making $250k and my wife is a software engineer making $150k. We have two kids 1 and 3. + +Recently I’ve been thinking about moving back to industry, partly because academic after tenure is very boring. I think I am able to secure a private equity or hedge fund job for $750k a year. My question is whether the extra pay is worth the time I’m going to lose. + +Being a tenured professor is extremely easy I teach on two days a week and spend four hours every other day on research. I have winter off and summer off. I like to spend time with my kids but I feel deep inside that I could do something more professionally. + +For those of you who have fatfired, is it worth giving up time for money? My wife will find another tech job next year which will bump her pay to 250k also. It appears to me that we have enough money so it doesn’t seem rational to chase for money, did I miss something? + +Thanks! If any of you are interested in academic jobs is universities I’m happy to chat. + +[edit:] +1. Thanks everyone for your feedback! I really appreciate every one of them I’ll read them in more details and thought them through. +2. Not all professors get paid this much and work only 20 hours. Mine is a combination of salary, summer support and endowed chair. I’m very efficient doing what I’m doing that’s why I only spent 20 hours. For the past 10 years or so I spent an average of 60 to 70 hours per week. +All of the news articles are inflammatory - “House Sales Plummet”, “Real Estate Recession Imminent”, “Sellers Strike”, etc. + +Why is this headline news? It’s seems like such a “duh” moment. + +Rates go up astronomically. People don’t want to buy because the rates are too high. People don’t want to sell because where would they go, and why would they want to lose all that equity? + +Volume gradually increases and prices come down as available inventory hits the market. + +My question is: is this really an effort to cool the demand for all goods by curbing credit purchases, or is this something else? It feels like blatant market manipulation. Granted, I’m too stupid to understand it all. + +Real estate gets bought up, inventory decreases; prices skyrocket. Rates go up, prices go down, people default, and prices adjust. + +The only folks that seem stand to benefit are those that have the capital to purchase sans loan. + +Lather. Rinse. Repeat. Am I missing something here? It can’t be this far from subtle, right? +Term insurance rates are set to increase by 20-30% from 1st Dec 2021. Main reason is covid, as insurers have seen much higher claims and need to regain profitability. + +If you haven't got a term insurance yet, and you have or foresee dependents and liabilities in your life, now is as good a time as any to get one. + +**The basics: what is a term insurance?** + +You can read all the details in the [wiki](https://www.indiainvestments.wiki/start-here/insurance-policies/life/term-insurance). Just covering the important stuff here: + +I like to think of it as a reverse lottery. You can buy a term insurance cover for say Rs. 10k a year where you are covered for Rs. 1 cr for the next 30 years (assuming you are 30 today). This is similar to buying a lottery ticket every year for next 30 years. + +However, in this case you don't want to win the lottery coz you'd be, well, dead. It would be a solace for your family that you got this insurance cover, but you'd be dead. OTOH, if you survive the 30 years, congratulations! You got thru your working life, hopefully cleared your liabilities and survived to tell the tale! Just kiss your premiums goodbye, because they were like that lottery ticket. + +**When should you get it?** + +Many people say you should get it only when you create a liability, like a loan or a child. But I feel people should get it far earlier, like maybe a year or two into their first job. You need to have a job to get insurance though, it is not offered to students. + +You should definitely have it in place before you turn 35, because your may develop some lifestyle conditions which may cause the same insurance to cost more. In the worst case you may be denied outright. + +**How much should you get?** + +Conventional wisdom is 10x your contribution to household expenses + sum of all liabilities you have (education, home, auto, credit card, etc.) For people in their 30s and beyond, this calculation makes sense because they are your reality. If you are in your 20s, you can default to a 1-1.5cr cover, or however much you can afford and an insurer is willing to give to you. + +**By when should you pay?** + +Insurers offer various payment terms. The cheapest (and the best for you) is to pay every year for the entire period of the policy. The best for the agent is you pay it in 5/10 years, which bumps up the commission. If you go thru an agent, they are likely to suggest limited payment options over the full payment options. + +**Agent / direct:** + +There will be a slight increase in going thru an agent, but IMO its worth it. Right now I'm seeing insurers asking a lot of questions and making the customer do additional tests if they declare that they had tested positive for covid-19. Having an agent will make your life easier atleast in the co-ordination with the insurer. + +edit after reading comments: you may need an agent if your case is complex. Some examples I saw were being on a ship, recovered from a critical illness, currently going thru medical issues, etc. Do your own research before you buy, but don't shun the concept of agents. + +**Riders:** + +Most riders like critical illness, accidental death, return of premium etc. do not make sense for anyone except the insurer. + +There is one insurer to my knowledge who offers Accidental permanent total or partial disability rider which in theory makes sense. However, conventional wisdom is to buy disability insurance separately. + +&#x200B; + +Any further questions in the comments below. + +&#x200B; + +News source for rate increase: [link](https://www.livemint.com/insurance/news/munich-re-plans-to-raise-term-insurance-premiums-by-up-to-40-key-details-11635829714242.html) + +&#x200B; + +edit: thank you all for 250 upvotes! Will keep putting up useful stuff like this. + +Buried somewhere below is an excellent comment by u/onebatchone which thoroughly deserves its own post. [Link here](https://www.reddit.com/r/IndiaInvestments/comments/qvsu68/comment/hl3q5u4/?utm_source=share&utm_medium=web2x&context=3). + +Disc: I am an insurance agent. If you want any help in buying a policy, or even free one-on-one advice, DM me. +Has to eat at fancy restaurants, has to buy designer clothes, has to stay in 5 star hotels, only will drive a BMW, you get the picture. They wouldn't dare get caught eating at Mcdonalds. Are these people trying to keep up with the joneses? +**Sorry gang, Sky-net & the lizard men have joined forces...** + +**You'll have the ''sort by new' yourselves, should be fixed by this arvo...** + +&#x200B; + + + +Your markets are run by bots. Now your [r/Asx\_bets](https://www.reddit.com/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) +*Disclaimer: I do not own GME, nor do I intend to.* + +A friend of mine bought in to GME at around the $80 mark and has done well for himself. We met up recently and he is still very bullish on it, doesn't think it's a meme stock anymore, and believes it will continue to go up during corrections and crashes due to market forces. + +I'm worried that he will be caught off guard and lose a lot of money, but at the same time think that he should learn from his risky strategies. +I have to imagine that many many customers are going to think about switching providers. This is the second nation-wide outage in two years. But investors aren’t panicking at all. +**Quick Background**: Citadel is short on GME. They sold shares without owning them and now have a liability to buy those shares back. They don’t need to have the cash on hand to buy these shares. They can just say, “we have value in other assets that we can sell later”. This is called margin. If the value of those assets goes down or the liability on the shorts goes up to the point where the assets no longer substantially cover the liability (i.e. the maintenance margin), the broker can force Citadel to cover. This is a margin call. + +&#x200B; + +All that to say Citadel needs asset value to avoid covering. + +&#x200B; + +Citadel is required to report their assets to the SEC every quarter on a form called the 13F. Specifically a 13F-HR, for holding report. This is public information and available on the SEC website. The website also hosts 13G forms, which become important in a second. + +&#x200B; + +At a glance, Citadel’s 13F looks normal. They own a wide array of stocks and options – except, interestingly enough, GameStop which they only hold options in. It’s a little peculiar they would own options without covering with underlying stock, but hey, what are you going to do when there are no shares around? That’s not the point of this DD though. + +&#x200B; + +What’s **really** interesting is the number of SPACs on their 13F. SPACs – or Special Purpose Acquisition Company’s – are publicly traded companies with the sole purpose of buying another company. Or in their own words: + +&#x200B; + +“<Insert Ridiculous SPAC Name Here> is a blank check company whose business purpose is to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses….” + +&#x200B; + +I’m not going to get into any more details. Google it if you want. What’s important is that Citadel has been buying the shit out of these companies over the last year. How do we know? There are a couple ways to tell. First, a SPAC investor must file a 13G with the SEC if they own more than 5% of the total stock issued. Secondly, they need to report it on their 13F. + +&#x200B; + +\*DISCLAIMER: It’s possible not all the 13Gs filled by Citadel are SPACs, but after going through and checking many of them I would say the majority are\* + +&#x200B; + +Here is what the 13Gs say. Between January 2016 and November 2020 Citadel filled 40 of them. Between December 2020 and now they filled 203. What coincidental timing. There was a month in 2021 where they were buying a SPAC a day. The visual is quite jarring. + +&#x200B; + +[13G Forms filed by Month-Year](https://preview.redd.it/8wji1dcxs3h81.png?width=1371&format=png&auto=webp&s=035f31d5dd51e791d8d1eccb4bf9cfdf5b3f5ae6) + +&#x200B; + +Now what do the 13Fs say? It’s more complicated. 13Fs don’t include a date of purchase nor do they specify if a company is a SPAC or not. But it’s pretty easy to tell. Most SPACs have the word “Acquisition” in their name. Yeah, it’s that simple (good thinking, Ken!). Some don’t. There are a couple that use “Merger” or “Holdings” instead. But let’s call it a safety factor. + +&#x200B; + +Some examples of SPACs on the Citadel 13F: + +PLUM ACQUISITION CORP I + +SPARTAN ACQUISITION CORP III + +SPARTACUS ACQUISITION CORP + +&#x200B; + +Glossing over the fact that these names are hilarious, Citadel submitted that they own shares and/or warrants of 287 distinct SPACs. Warrants are just call options that were written by (and therefore exercisable against) the company itself. Combined, these SPAC assets total around $2.7 Billion. + +&#x200B; + +*OK quick check in: Citadel is short and needs assets to avoid a margin call. A lot of these assets are SPACs that they bought in the last year. The total value is upward of $2.7 Billion.* + +&#x200B; + +Still with me? Here is where is gets fun. And by fun, I mean a disgusting abuse of the open market. + +&#x200B; + +Going forward I’m going to pick one SPAC as an example, but what you’re about to read applies to all of them. I have picked Far Peak Acquisition Corp. Why? Because the name is short and easy to spell. You’re out of your mind if you think I’m going to type “Decarbonization Plus Acquisition Corp”, every time I want to search it. Yes, that is a real Citadel owned SPAC. But more importantly Citadel owns millions of shares of Far Peak which is enough to show up on a 13G. + +&#x200B; + +The question becomes where Citadel bought these shares and for how much. We know they didn’t buy them on the open market for a couple reasons. Firstly, they had 2.5M Far Peak shares on their December 31st 2020 13F, but the IPO wasn’t until January 19th 2021. Secondly, the 13G from January 19th 2021 (yes, the IPO date) states Citadel owns over 10M shares and the trade volume on that day just doesn’t match. So where did they come from? + +&#x200B; + +For answers, we look to Far Peak’s 424B4 form, also known as a Prospectus. The Prospectus is filled before an IPO and has financial and security information that must be given to potential investors. + +&#x200B; + +Here are the key takeaways from Far Peak’s Prospectus. + +1. After the proposed public offering there will be 64,750,000 shares outstanding +2. 55,000,000 of these shares are Class A ordinary shares that will be offered publicly at a price of $10.00\*\* +3. The remaining 9,750,000 shares are Class B ordinary shares that are owned by company directors and initial stakeholders. + +\*\*For just the low, low price of $10.00 Far Peaks will throw in 1/3 of a warrant too! + +&#x200B; + +These Class B ordinary shares must be what Citadel owned prior to the IPO because there were no Class A stocks created yet. Class B shares are also known as “Founder Shares” and they can be converted into Class A shares at a 1:1 ratio. + +&#x200B; + +Where is the 13G to support that Citadel bought these Founder Shares? There isn’t one because the company was still private. It isn’t until the IPO that they are required to report. Which is why on January 19th 2021 (again, yes, the same day as the IPO) they submitted that they owned over 10M Class A shares. Class A! They converted as soon as it was possible. + +&#x200B; + +*Check in #2: Still doing ok? Great. Citadel needs assets to maintain their margin. They buy a butt-ton of SPAC Founder Shares before IPO. Founder Shares convert to Class A public shares 1-to-1. The company is offering Class A public shares at $10.00 a pop on the exchange. Citadel exercises their conversion rights immediately on IPO day.* + +&#x200B; + +Ok, I’ll finally tell you how much Citadel paid for these Founder Shares that can be converted into $10.00 Class A shares. + +&#x200B; + +**$0.0026** + +&#x200B; + +Just over a fifth of a cent. + +&#x200B; + +[From Far Peak's Prospectus](https://preview.redd.it/ntfp4tbxt3h81.png?width=1560&format=png&auto=webp&s=ff6446b1c956d113e9e479961703d20f8c035391) + +&#x200B; + +And now everything comes full circle. Citadel is buying Founder Shares pre-IPO @ $0.0026 and then using the Class A conversion @ $10.00 for their asset reporting. Between Citadel and the other Far Peak initial stakeholders, they turned $25,000 into $97,000,000 overnight on just this one SPAC. Literally overnight. Remember, Citadel owns positions in at least 287 SPACs. + +&#x200B; + +And just to confirm let’s check the 13F again. + +&#x200B; + +[From Citadel Advisors LLC 13F-HR](https://preview.redd.it/g7tohyg7u3h81.png?width=1575&format=png&auto=webp&s=9f3addb3be5c888e76545c28ddfb76297ae60982) + +&#x200B; + +You can ignore the warrants and options for now. I might make a Part 2 later if there is interest. + +&#x200B; + +The fourth column is the USD value x1000 and the fifth column is the number of shares. So, 2,763,464 shares over a total value of $27,496,000 = $9.95 a share. I casual 382,592% increase in value. + +&#x200B; + +*Tl;dr / Final Check in: Citadel is buying Founder Shares in SPACs pre-IPO for cents on the dollar and then converting them to Class A stock worth 4000x more than what they paid. This creates false inflation of their asset book and helps them to stay under the maintenance margin.* + +&#x200B; + +\--- + +&#x200B; + +~~Let’s talk dilution. You can stop reading here. This section isn’t part of the original thesis, but it made my skin crawl and I had to include it.~~ + +&#x200B; + +~~When someone buys a share in a SPAC, most of that money goes into something called a trust account. The idea is that when the SPAC finds a target company to purchase, it uses the money in the trust account to do it. Makes sense. But what if they don’t find a company to purchase within the allotted time? In that case the trust is divided up and returned to the shareholders. Except wait. 15% of the outstanding shares are owned by insiders… And these insiders paid a fraction of what the average investor did. They get a chunk of that trust money too. And not a proportional amount to what they deposited. They get an equal split.~~ + +&#x200B; + +~~Here's an example. Let’s say there is (1) Founder Share that an insider bought for $0.01 and (1) Class A public share that I bought for $10.00. The trust account would have $10.01. In the case of a failed acquisition, I’m not getting my $10.00 back. I’m only getting $5.00. The owner of the Founder Share is getting the other $5.00. It's criminal imo.~~ + +&#x200B; + +~~But hey, if they are successful, you just paid for some hedge fund to own 50% of the acquired company - and that’s actually the better outcome.~~ + +&#x200B; + +THIS IS NOT TRUE. Founder Shares lose their redemption and liquidity rights when they convert to Class A stocks and an acquisition hasn't gone through yet. It's only after a successful acquisition that converted Founder Shares are redeemable. I apologize for the error. + +\--- + +&#x200B; + +Big shout out to u/3_Midgets_In_A_Coat for doing some amazing research and pointing out the Founders Share documentation. Would highly recommended their posts if you have the interest. + +&#x200B; + +As always not financial advice, please call me out if I made an error, I can’t say for sure Citadel hasn’t covered, yada yada. + +&#x200B; + +🚀 +I know I'm not the only one. I don't have any actual content from this sub showing on my feed anymore. It's always the "I just paid off my huge debt" posts which simply aren't attainable for a majority of people on this sub. A very large amount of visible posts in my feed are humble brags that aren't achievable for 90%+ of the userbase. + +I'm super happy that some people are planning and executing their plans to pay back their debt well. However I feel this subs focus should be more on tips and advice rather than a collection of payment receipt pictures. The former has substance while the latter does not. + +Again, nothing personal against all of you that are kicking ass, I'm very happy for you, I just don't think that content is right for the sub and would like to see something done about it. + +Thoughts? + +edit: I'm not saying that paying off debts is unattainable for 90% of the userbase, I was specifically referring to the posts that show thousands or sometimes ten thousand plus dollar payments to clear out a loan. Unfortunately even the good natured "hey I'm so happy I paid off my loan after seven years" still bottlenecks any sort of actual content on this sub. I'm not against people or being happy or proud or anything, I'd just rather seem a greater use of this space. The endless stream of payment receipts adds nothing. + +edit 2, I swear I'm done after this: Just for further clarification, I mean the pictures of payments to debtors and pictures of $0 account balances. Text posts about how you paid your shit off I still 100% support. +After two years of lawsuits, a court finally unsealed key evidence from the FBI’s 2020 investigation of North Carolina Sen. Richard Burr for allegedly trading stocks based on nonpublic information. + +Public records at the time show that Burr abruptly liquidated more than half of his and his wife’s equity holdings in February of 2020, when most of the world had yet to focus on the looming coronavirus crisis. + +Burr was ultimately not charged with breaking any laws, but the newly released records show FBI agents believed Burr had committed insider trading and securities fraud. + +The most compelling new evidence is the flurry of calls and texts between Burr, his wife Brooke Burr, her brother Gerald Fauth and Fauth’s wife that took place on the same days that both the Fauths and the Burrs sold off hundreds of thousands of dollars of stock right before the market plunged. + +Read the full article: [https://www.cnbc.com/2022/09/06/unsealed-fbi-docs-reveal-a-flurry-of-calls-amid-burrs-stock-trades.html](https://www.cnbc.com/2022/09/06/unsealed-fbi-docs-reveal-a-flurry-of-calls-amid-burrs-stock-trades.html) + +Senator Richard Burr sold 80% of his stock holdings after receiving pandemic briefings in Feb 2020, per unsealed FBI docs. Days later, the market crashed. Nancy Pelosi was also recently accused of trading on non-public info. Do you think politicians should be charged for insider trading? +Markets are closed. Time to give Yahoo, wealth simple, whatever various trading tools you use a rest. + +No amount of dreaming is going to make your stocks double tomorrow.. +It's a good time to relax and reflect on why we do this. + +TO GET RICH WOOOO!!!! + + + +HAPPY HOLIDAYS and may this community prosper in the last week of this year and the next. + + + + +Psss buy crypto it doesn't sleep ;) +There are good reason for that "44 members of Congress have violated a law designed to stop insider trading and prevent conflicts-of-interest" + +>Insider and several other news organizations have this year identified 44 members of Congress who've failed to properly report their financial trades as mandated by the Stop Trading on Congressional Knowledge Act of 2012, also known as the STOCK Act. + +**The penalty was usually small — $200** is the standard amount — or waived by House or Senate ethics officials. + +This is very high contrast to those who are exposed otherwise. Just a couple of examples down below: + +CNBC: “Senior management, newsroom staff, on-air talent **and their spouses and dependents** are prohibited from owning individual stocks and bonds and have until January 2005 to liquidate their holdings. Other CNBC employees will be subject to a no-trading policy.” + +Air Traffic Controllers: Can't own stock in any airline or aerospace company. While they can no affect on any of these companies or any sort of insider knowledge - they are not allowed. + +&#x200B; + +What's your view? +Welcome to the **/r/EthTrader** Daily Discussion thread. The thread guidelines are as follows: + +*** + +- Follow the Golden Rule. All other rules apply as well. Follow [this link](https://www.reddit.com/r/ethtrader/about/rules) to view the rest of them. The rules page is also linked in the announcement bar above. +- General discussion topics include, but are not limited to, events of the day, technical analysis, alternative Ethereum projects, or minor questions. +- Breaking news or other important content should be submitted as a separate post. +- In-depth altcoin discussions should be referred to the /r/CryptoCurrency discussion thread. To view the thread, [follow this link](https://www.reddit.com/r/CryptoCurrency/search?q=%5BMonthly+General+Discussion%5D&restrict_sr=on&sort=new&t=all) and choose the latest entry on the search page. +- Pumping, venting, trolling, or any other similar behavior should be redirected to the /r/CryptoMarkets trollbox thread. To view the thread, [follow this link](https://www.reddit.com/r/CryptoMarkets/search?q=Trollbox+Thread&sort=new&restrict_sr=on&t=all) and choose the latest entry on the search page. + +*** + +Thank you in advance for your participation. Enjoy! + +With the insane growth in these markets since 2017 it’s fairly easy to assume we’re in a bull market. How long do you think we will have this incredibly positive crypto market? With projects without even a demo reaching enormous inflated prices it’s downright scary to think about how much $$$ could be lost strictly from peoples fomo. At what market valuation do you think crypto as a whole will reach before we can expect a downturn? +I quit my job six months ago. I became single about six months before that. Now, my life is one big gaping hole of nothingness. I'm being confronted with all aspects of my life that are lacking: + +* I don't know what I want to do in terms of productive endeavor ("job") or something that will give my life meaning, and haven't the slightest clue where to start, +* I realized how small my social circle is and how little time my social interactions actually fill, and haven't the slightest clue how to expand my social circle, in part due to only seeking deep connections, +* I'm single, and despite having no trouble finding dates and being an interesting person, the "freedom" I have is simply perceived as an empty life and goes unappreciated. I just want to spend quality time together. I almost feel like I have to pretend to be busy to "fit in" more to be more likeable. People don't care or feel that you "achieved" something great, all they do is ask: "so what do you do all day?" and I feel like I have to justify my life, +* Hobbies? Yeah, have fun doing it all on your own with absolutely no one to share any experience with. Shit gets old fast. I see posts like [this](https://old.reddit.com/r/financialindependence/comments/qlvkhm/what_will_you_do_once_you_retire_early/) now and laugh. Being able to do any of those things matters zero if you don't have anyone to share your life with. It's the one thing you should be focusing on for your retirement: **how many people do you have in your life to share your time with**. The rest is irrelevant. I fucked this one up big time. +* I'm stuck because there's things I know I'd want to do, but I don't want to do them alone. Now I seem to be stuck in the weird situation where I have to go out and make friends (hard) or find a partner (harder) so I can go and do those things together. No point in doing anything alone. Happiness is only real when shared. + +In all, what was supposed to be an amazing journey has turned into one of the darkest periods of my life. I don't want to go back to work just for the sake of filling my time, and I also don't know how to move forward either. It's been hell feeling the time tick away with nothing to do and nothing I *have* to do. I wish I had read this line before and taken it to heart: retire **to** a life, not **away from** one. And believe me when I say, achieving FIRE is nothing like you think it'll be and I actually believe there is a good case to be made for saying screw FIRE and just go with the flow of the work-play-sleep lives everyone has. Forget dreaming about "that day" when you'll finally be able to "live". + +I just had to vent and rant, any insights are appreciated. + +**Edit**: My post didn't get approved for a while because it was a new account, came back later and saw all the responses. There's too much to reply to each comment, but I want to say a heartfelt thanks to all those that offered their advice, insights and support. It means a lot, and helps a lot. Achieving FIRE and quitting your job is a process unlike any other, and forces you to confront the totality of your existence. Every insight you have provided, big and small, will help me through this process. + +I'm well aware of many of the "issues" in my life and/or attitude, and even knowing some of the solutions to them, *doing* is sometimes the hard part. That said, I am actively seeking out therapy and trying to find the right therapist for me. We're all different, and my post (aside from needing to vent) was meant to shed a very different light on "the light at the end of the tunnel" many perceive FIRE to be. [This](https://old.reddit.com/r/financialindependence/comments/qlwk6v/i_fired_at_30_and_now_im_lost_depressed_and_dont/hj8yhpi/) comment describes it well: + +> This is something most of these people won't comprehend or understand until they are lucky enough to be FIRE'd. It isn't the magic cure-all for how you feel in life. It just gives you more time to focus on it. + +Your life and unhappiness (or happiness) will still be there post FIRE. I used to read things like this and think "Nah, that isn't me, I'll be happy". It's not true. You'll still be exactly as happy or unhappy as you were, except now it's all thrown under a magnifying glass with nothing but time to be confronted with it all. This is what I'm learning and going through. I hope others can learn from this and better prepare for the future life they are gifting themselves. + +The main insight I wanted to give through my post is: **have people in your life**. There's many commenters making false assumptions about me and me life, about who I am or projecting their own realities onto mine. We all have our own lessons to learn and this is mine I'm sharing with you. Make sure you have people to share your life with, build relationships as you are building your portfolio **now**. Human experiences are all that matter in the end. + + **#What's New?** + +It's official $Ping will be listed on [Gate.io](https://gate.io/), the 10th biggest exchange in the world by volume on the 14th of September. +Enhanced 180k marketing budget in collaboration with [Gate.io](https://Gate.io) is starting tomorrow. +[https://twitter.com/SonarToken/status/1437329963443654662](https://twitter.com/SonarToken/status/1437329963443654662) + +6-person strong development team hired for the development of the platform in addition to a new web developer. + +Sonar also started the works on a new press, hiring and blockchain education/academy page. + +More big announcements in the following weeks. + +**#What is Sonar?** + +The Sonar Platform is a multi-chain analytical tool, which presents its users with an interface that tracks social network/influencer trends, vets contract code, price charts, creates price action alerts, executes orders, as well as feature other innovative and unique solutions, including the implementation of artificial intelligence for investments. + +The Sonar Platform intends to serve as a crypto analysis one-stop-shop and provides users with all the necessary tools and information need to make smart investment choices, increase profitable trading and reduce the likelihood of traders falling for rugpulls and honeypots. + +Sonar $PING had a successful TechRate Audit and is listed on CMC, CG and Blockfolio. The Core Team is fully doxed, KYC’d have based the entire business around full transparency. The Q3 roadmap has been completed 2 months ahead of time and Q4 targets are already in development. + +SONAR has just announced the listing on GAte.io that would allow users to purchase their native token $PING with fiat. This will facilitate the purchasing of the native PING token to new and existing users alike and will also open the door to 500K+ existing Indacoin users to the possibility of joining the Sonar family. + +**#Sneak Peek** + +Another collaboration is in the works between Sonar and a Multi Billion Dollar Company. This tech collaboration will ensure Sonar has all the resources for years to come, and will cement Sonar as a leading company in this space - Stay Tuned! + +Some major marketing collaborations are in the work which soon will be announced, be prepared to be mind blown! + +**#What's in progress:** + +🔥 Incorporation in process +📣 More big announcements coming this month +⭐️ Eth-bridge this month +📊 Charting tool in 1 months +🔓 Sonar Wallet in 1.5 months +📰 New press page + ⚒ Hiring page +📚 Blockchain Academy + +**#What's been done:** + +✅ Indacoin partnership (enabling creditcard purchases) +✅ Listing on [Gate.io](https://Gate.io) (tomorrow) +✅ Enhanced marketing strategy initiated +✅ Doxxed Core Team +✅ Real Use Case (Utility Token) +✅ Clear Roadmap and Whitepaper on website +✅ Techrate audit complete +✅ Long term partnership with CryptoMonks, Cryptoken Media, Bart Baker and more coming +✅ Listed on CMC +✅ Listed on CG +✅ Doxxed Founders Team +✅ Real Use Case (Utility alt coin) +✅ Q3 Roadmap complete in 1 month + +**Transaction taxes:** + +💰 6% tax to Liquidity Pool to create a stable price floor +🤑 2% tax to Redistribution +👨‍🔬 1% tax to Sonar Innovation Lab Wallet +👨‍💻 1% tax to Sonar Marketing and Development Wallet + +**Socials:** + +**✉️ Tele**gram: [https://www.t.me/sonar\_official](https://www.t.me/sonar_official) +📷Instagram: [https://www.instagram.com/sonar\_token/](https://www.instagram.com/sonar_token/) +🐦Twitter: [https://twitter.com/SonarToken](https://twitter.com/SonarToken) +⭕️Reddit: [https://www.reddit.com/r/sonarplatform](https://www.reddit.com/r/sonarplatform) +🎮Discord: [https://www.discord.gg/7kuNHxZeCP](https://www.discord.gg/7kuNHxZeCP) +🎥Tiktok: [https://www.vt.tiktok.com/ZSJ9oBTDo/](https://www.vt.tiktok.com/ZSJ9oBTDo/) +📽Youtube: [https://www.youtube.com/channel/UCixkuolcOuQdEnn80E-tyew](https://www.youtube.com/channel/UCixkuolcOuQdEnn80E-tyew) +👫Facebook: [https://www.facebook.com/Sonar-Token-107371881570425](https://www.facebook.com/Sonar-Token-107371881570425) +🌐 Website: [https://www.sonarplatform.io](https://www.sonarplatform.io/) +We've seen a lot of discussion lately about the impact on employment from an increased minimum wage, but are there any other potential negative effects? Are there winners and losers, or is it just beneficial all around? +Recently got a new job at my school and they haven't paid me in 2 months cause the paper work hasn't gotten signed yet from a higher up. My boss has been calling payroll everyday and is doing everything in her power to fix the issue. + +While that is getting taken care of, what are some ways to make money that's good for a flexible schedule? I've been interested in doing those surverys online for money, but they all look like scames... +Even for people who come from /all/. + +For those coming from /all/, Ethereum is a cutting-edge blockchain-based distributed computing platform, featuring smart contract functionality. It provides a decentralized virtual machine, the Ethereum Virtual Machine (EVM), that can execute peer-to-peer contracts using a crypto-fuel called Ether. + +Read more here: https://redd.it/77gytn + + +Tell us what excites you the most about Ethereum. + + +EDIT: Trying to keep up with the new comments but it's a bit difficult. Wait a few minutes until I get to your comment. Also, don't worry I won't run out for a very... very... long time. + +Due to the dinosaur speed of Bitcoin, it can take a little bit of more time before I can purchase additional batches of GOLD. ETH should be accepted as a means of payment so I could instantly purchase GOLD on Reddit and I would purchase even more daily. + + + +As far as I understand it, we owe them this money and just like any debt collector they can come to collect whenever. + +I'm a STEM major at about a \[7\] and was thinking about the economy and got curious. I don't know much about economics so I will try my best to google terms +Welcome to the twilight zone folks. If you don’t recall the 2017 bull run, then understand you’re in for a treat. With top 10 coins pumping wildly right now but BTC starting to flag in relation, the tide is about to come in and push all our favorite shitcoins to their absolute limit. + +**Saturna** is here in the **right place** and at the **right time** which is why it hit eight figures shortly after launching and looks on track to be the talk of BSC as the fastest growing token anyone’s seen. Seriously, beyond utility-based projects which never see this kind of growth, you’re talking about **a token that’s mooned faster than Hoge, SafeMOON, and Bonfire.** + +With an absolutely killer website, already a strong TG community, and achievements coming at holder-based intervals Saturna looks primed to blast off this week, making a **jump to a $100M** market cap reasonable from its **current BUY THE FUCKING DIP price of $6M.** + +I mean, **try to find another token that has experienced this much growth, this quickly,** and didn’t make a huge run within the first week. I’ll save your lazy ass the time, **there is none, flat out doesn’t exist**. Saturna is your big chance to actually be early on the next token to make the newsroom rounds so you can brag about how you weren’t just a first adopter to cryptocurrency, but knew where to find the best gains. + +Because while it’s hard to know in this wave of memecoins what’s for real and what’s dogshit, it’s hard to find an easier set of signals than what’s being presented with Saturna. With an **audit, listings, and major influencer campaigns** coming soon, this baby has barely begun to breathe. **10k holders is basically an inevitability at this trajectory,** which should easily stabilize this price point to an 8-figure mark. + +Listen to me, don’t, these things have a life of their own so the only thing up to you is whether you want to be a part of it. I’d check out the website first though, see the energy with the community, and **ask yourself what you’ll think if you see this at 100x next month.** + +📮 Telegram : [t.me/saturna\_TG](https://t.me/saturna_TG) + +🪐 Website : [saturna.co/](https://saturna.co/) + +📈 Chart : [charts.bogged.finance/?token=0x1e446CbEa52BAdeB614FBe4Ab7610F737995fB44](https://charts.bogged.finance/?token=0x1e446CbEa52BAdeB614FBe4Ab7610F737995fB44) + +🥞 PancakeSwap : [exchange.pancakeswap.finance/#/swap?outputCurrency=0x1e446CbEa52BAdeB614FBe4Ab7610F737995fB44](https://exchange.pancakeswap.finance/#/swap?outputCurrency=0x1e446CbEa52BAdeB614FBe4Ab7610F737995fB44) +Long time reader, this is not supposed to be a provocative question. + +Why is 99% of posts here about ETF's? People diversify withing various ETF's or stocks, this is not diversification imo. +When people ask about real eastate, gold, not to mention crypto they get bashed. + +I'd understand it somewhat if this would have been an ETF focused subreddit but it is not, it I'd about how to handle your finances in Europe. + +There is much opportunity out there, apart from the above mentioned one might look into participating in startup rounds, lending markets, buy something like as 24/7 car wash station, vending machines and gazillion other things if you want to think outside of the box a bit. +I am 47 years old and live in Bay Area. +Married and 2 middle school twins. Just bought a 3 bedroom home in Palo Alto for 2.9m . My outstanding mortgage is 1.5m. + +I have 7.2m combined in 401k and my personal investment account. In most places outside of HCOL area like Silicon Valley it would have been a no brainer for me to Fatfire. But Bay Area living expenses are so high that I am still on the fence. + +With 4% swr , I would be getting +288k on 7.2 m account. After taxes , that would be 250k. +My mortgage and property taxes are around 100k a year . Assuming health care costs as 20k and kids education another 50k ( 25k private schools for each), I will be left with 80k. + +Is 80k per year really fat fire money in Bay Area?? + +Just the home upkeep and car insurance and gas takes away 20k. 10k for travel and you are left with 50k for food, groceries , stuff from +Amazon, incidental large items, restaurants, clothes , entertainment ..etc. + +Am I Missing something or my math is wrong ? +To me it looks like I am not ready to fatfire. +What do you guys think? +What number should I target ? + +Edit : + + thanks for all the comments . +Approximately 95% comments are regarding my choices ( why Palo Alto, Bay Area , private school..etc..etc). Even though I understand where most are coming from I am not actually looking for that info or questions on my choices. + +Very few actually answered my questions.Thanks to all who answered. Looks like I am close but not exactly Fatfire. +I have been investing like a tard for the last 3 years but finally started to learn and slow down. Trying to focus on consistently investing each month and now I am at my first milestone. +Next goal is $20 per month + +Thanks for the help from this page. +**(Skip to !!!!!!! - This was the initial part of my investigation. Skip to that bit. Promise.)** + +In the linked in profile, they are advertising for one position in China with email domains for [glacierchina.com](https://glacierchina.com) + +Running the advertisement through Google Translate, we can see that they have a public **WeChat account: GlacierCap.** + +Throughout the rest of the job post, they refer themselves to **Gengxin Capital**. + +>Introduction: + +Founded in September 2018, Gengxin Capital is an enabling boutique investment bank. The founding team comes from core members of companies such as LAZARD, Yuanhe Chenkun, Kaisheng Rongying, Huafeng Capital, Blue Lotus Research Institute, Analysys International, and has extensive contacts in the capital market, Internet, and technology industries. + +Gengxin Capital is committed to deep participation and long-term empowerment in the value creation and value discovery of technological innovation companies that are the engine of global economic growth and unicorns generated in the tide of inclusive consumption in China. Since its establishment, it has assisted 26 projects to complete financing, with a total financing of 5.36 billion yuan. + +&#x200B; + +Additional information I can tell you about the Chinese domain is that while it was initially registered in 2018, the Registry of the domain (RDAP) has been updated within the last 24 hours. Circumstantial, but the domain for the Chinese email accounts do not have anything else allocated to them other than their emails.{"eventAction":"last update of RDAP database","eventDate":"2021-03-14T06:57:12Z"}\] + +Registered with Alibaba. + +Source material: [https://whois.aliyun.com/rdap/domain/GLACIERCHINA.COM](https://whois.aliyun.com/rdap/domain/GLACIERCHINA.COM) + +\------- + +**!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!** + +Bringing it back to Glacier Capital in Lux, I ran a WHOIS on the Domain and got a different address than u/timmmmmmmyy. + +Domain name holder + +GLACIER CAPITAL SARL + +18, rue Jean Oster + +LU - 8146 Bridel + +[https://www.google.com/maps/@49.6582799,6.0771793,3a,75y,326.47h,77.66t/data=!3m6!1e1!3m4!1sqXom6bxDm2-6Pd1NdeLZEw!2e0!7i13312!8i6656?hl=en-AU](https://www.google.com/maps/@49.6582799,6.0771793,3a,75y,326.47h,77.66t/data=!3m6!1e1!3m4!1sqXom6bxDm2-6Pd1NdeLZEw!2e0!7i13312!8i6656?hl=en-AU) + +&#x200B; + +Wonderful, modern house. Could hold 4 employees in the silo looking part next door, but otherwise a suburban street. + +\------ + +&#x200B; + +The official business registration yields the same address as u/timmmmmmmyy + +Buisness ID: B212426 + +A new player has entered the game, **Norbert Raymond Becker.** Owns 48.08% of Glacier Capital, where Marc-Francois Joseph Daubenfeld owns 51.92%. Both Luxembourgers. + +(I'm looking to upload the supporting paperwork - standby). + + +(EDIT GOES HERE: https://imgur.com/i9lTtDc Verifiable at [https://www.lbr.lu/](https://www.lbr.lu/) which is the Luxembourg Business Register. Put the above Business ID into the "RBE" which is the Beneficial Owners Registry.) + +&#x200B; + +\--- + +What's Norbet up to? + +He has a Directorship at Lia Holdings Limited. (Very close to Liar, lol). with the following address - 52 LIME STREET, LEVEL 27, LONDON, EC3M 7AF + +Fancy new building there for Norbet. What's on level 27, the registered address for Lia Holdings Limited? + +[https://www.thescalpelec3.co.uk/#Neighbourhood](https://www.thescalpelec3.co.uk/#Neighbourhood) + +Level 27 holds Lombard International + +[https://www.thescalpelec3.co.uk/wp-content/uploads/2020/12/SCA005\_Scalpel\_Floorplans\_V32.pdf](https://www.thescalpelec3.co.uk/wp-content/uploads/2020/12/SCA005_Scalpel_Floorplans_V32.pdf) + +[https://pomanda.com/company/12049264/lia-holdings-limited](https://pomanda.com/company/12049264/lia-holdings-limited) + +This looks more like a spicy meatball. We have a list of other directors in London that we can chase down, along with business names that contain the word CAYMAN in them. Niiiice. + +So.... who is this rag tag bunch of professionals for Lia? + +[https://www.lombardinternational.com/en-US/About-us/Leadership-team](https://www.lombardinternational.com/en-US/About-us/Leadership-team) + +Oh look - Hi Norbet! He isn't a small fish either - used to be Global CFO for EY (one of the big four consulting and accounting firms in the world). + +I see that they have their funds managed by Blackstone, a fairly large and spicy meatball in the U.S (I know this because they just tried to buy a Casino group in Australia). + +I must say that many of the board on Lombard International Group are not small fish - international Chief Investment Officer of HSBC is a spicy meatball (Stuart Parkinson) or a senior figure of Blackstone's Tactical Operations Group in Qasim Abbas (sounds like a lame Bourne movie). + +So what has this got to do with our situation? + +[https://www.businessinsider.com.au/blackstone-and-citadel-have-reportedly-held-deal-talks-2019-10?r=US&IR=T](https://www.businessinsider.com.au/blackstone-and-citadel-have-reportedly-held-deal-talks-2019-10?r=US&IR=T) + +**Fuck. Off.** + +**TL:DR - The strawman at Glacier, whom has a Residential Office but has a 48% owner in the former Global CFO of EY Norbet Raymond Becker, who sits on the Board and is Vice Chairman of Lombard International Group, whose funds are managed by Blackstone, whom have been looking to merge with Citadel going back to 2019.** + +Edit: Adding the screenshot for the Public Record of Beneficial Owners of Glacier Capital, which ties them to LIA, which ties them to Blackstone Tactical Operations, which ties to Citadel.[https://imgur.com/i9lTtDc](https://imgur.com/i9lTtDc) + +Edit2: Do not confuse BlackRock (who are long on GME and are listed as an institutional investor in GME) to Blackstone, the company listed above. Have a read of this 2018 article. To help remember, Blackstone = BS = Wanted to merge with Citadel in 2019. https://www.economist.com/business/2018/01/13/blackrock-v-blackstone +I never managed to have 10k in cash in my bank account due to being irresponsible with credit and not being financially educated. + +After reading BFI and changing my mindset towards money, I have finally managed to save 10k + +[Woohoo](https://imgur.com/a/r1gjpTa) +In the USA, we've had to bail out the airline industries and grant loans to small businesses. Many industries are getting adversely impacted due to this. However, it doesn't seem like Europe is getting impacted as much as the USA in terms of unemployment rate, bankruptcies, and their stock markets. + +Why is this? +Watched the Martin Lewis show this week and the focus was on how to maximise the best savings accounts. + +As we all now rates are still so pitiful that none of these accounts are beating inflation. To me putting money into low risk etf’s or pension is a complete no brainier versus savings accounts …. But it still seems that society is obsessed by savings accounts. + +This ain’t the 90’s…with the base rate where it is surely people like Martin Lewis should be focussing on educating society on the correct way to invest - rather than recommending money to rot in savings accounts. + +I guess the question is …. Am I wrong? Why is there still a culture of savings and hating risk. + +Saturday morning musings. +I’ve heard multiple times in my life this idea that when a person gets a pay rise and moves into a higher tax band, they will net less as their whole income is taxed at that new percentage (if the pay rise isn’t high enough to overcome the new percentage). + +This was even an example in a maths lesson I had in school when learning about percentages. + +I’ve also heard people say they would forgo a pay rise for this reason. + +Has anyone else come across this? Is it some remnant of history that some people still believe like the difference between a ‘British billion’ and an ‘American billion’? +My side hustle is commission-only and I finally made 2 commissions this week. I have been busting my ass, working nights/weekends, leaving my kids and husband at home for this work when I just want to be with them during what is supposed to be my "time off". But we have to do this; we have to crawl out of this debt. Thanks for reading! +&#x200B; + +# Preface: + +If you do not recognize the title of this post, I highly encourage you to read what came before, as the material contained within this DD is a direct follow-up to The Castle of Glass. It’ll make what comes next far easier to understand, as this shit runs deeper than Kenny G’s rectum after the pounding he’s taken over the last 9 months. + +**GC1 -** [https://www.reddit.com/r/Superstonk/comments/ok2e0b/a\_castle\_of\_glass\_game\_on\_anon/](https://www.reddit.com/r/Superstonk/comments/ok2e0b/a_castle_of_glass_game_on_anon/) + +Where in GC1, I described to you the ***‘what’****,* this follow-up is here to show you the ***‘how’***. The former was insightful in providing us with the general direction that the company has been heading towards. A solution that would not only eradicate those who made the greatest mistake in shorting the company *but nearly every other financial entity that played their role in it.* + +Yet, understanding the solution is only half of the equation. Make it through to the end and you’ll see ***why I waited 2 whole-ass months to drop this thermonuclear watery shitfart on these Shortbus scum***. **So fasten those fkn helmet belts and unbutton your nip pouches. Where GC1 is me to my wife, what comes next, is most certainly her boyfriend.** + +# Phase I - The Foundation + +In asking how RC and Co plan to execute their order 66, you must first understand why any of the following is even worth considering. In doing so, we have to take a look back to Overstonk.com and see precisely what they did and why it worked for them. Not from my own words, but those of the CEO of the company, Robert Byrne and Dale Kimball the judge who dictated the ruling in the company’s favor in regard to their blockchain-based dividend that squeezed their own company. + +In 2017, Byrne held a live presentation discussing the functionalities of Blockchain and why it prevails over the dumpster fire we currently call our stock market. This fucker was onto something...but just ***how much was he onto?*** After watching the whole presentation there are two specific moments in which he explains just this. [https://www.deepcapture.com/2017/07/patrick-byrnes-cato-institute-luncheon-address-cryptocurrency-the-policy-challenges-of-a-decentralized-revolution/](https://www.deepcapture.com/2017/07/patrick-byrnes-cato-institute-luncheon-address-cryptocurrency-the-policy-challenges-of-a-decentralized-revolution/) + +**12:00 min mark**: in his discussion of the **DTCC** and an entity known as **Cede and Co,** he asks the crowd to raise their hand if they own any stock in a publicly-traded company in America. A rhetorical question, to which he follows up by stating the following: + +**“All of us with our hands up are incorrect. none of you actually own any stock, you legally do not own any stock, I’m going to show you what you own. All of the shares are owned by a company no one’s ever heard of, they own 98% of the corporate stock. They generate a share entitlement, basically what a casino would call a marker, what you and I would call an IOU”. He compares the stock to a polaroid, “you put the stock here, you take a photo and we trade the polaroid.** + +Here’s a frame by frame of the chart he uses, broken down into 4 segments as to how this process proceeds. Follow 1-4. Don’t judge my fkn arrows, 15 attempts each to get those right. + +https://preview.redd.it/9mh9dwag3cm71.png?width=616&format=png&auto=webp&s=bbab2dd8a6ad50dfb877870173d499ecf2d78fd8 + +1. Creation of the entitlement of the OG share, i.e IOU. +2. Movement of IOU into the DTCC and the exchange process between funds and the IOUs. +3. Distribution to clearing brokers (yellow circles), he states is, “directly plumbed to the DTCC. Besides them, there are about 3,500 other firm brokers plumbed into them”. “You have a hub and spoke system where spokes become the hubs of new spokes”. +4. He then states, “***these share entitlements are scattered through the system and there isn't a 1:1 relationship between the share entitlements and the underlying shares, and that's what I freaked out about 12 years ago. Its fractional reserve banking without a reserve requirement”*** + +Let's all take a moment of silence to look at that last picture. That’s our market. Right now. The dumpster fire. Visualized. Lmao and they think we're idiots. That shit show circus carnival is so ridiculously convoluted, it’s no wonder why it’s been so easy for them to get away with their fuckery for decades within it. + +Above, he brings attention **to the problem**. Shortly after, he discusses the ***solution.*** This is where shit gets interesting. ALSO, before some dingle comments some headass shit about it lol, **coins =/= NFTs, the only link they share is the Blockchain platform they run on, as discussed next.** + +A platform he describes as allowing, “peer-to-peer value-exchange, ***without central institutions, disrupting the central institutions doing it for us now and adding TRUST into the equation”*** + +**17:30 min mar**k - He describes the alternative to the current dumpster fire, through the utilization of a hardware wallet-based ***ledger,*** which adds a new level of security in protecting your assets and keeping fuckery at bay. **The concept is explained below, but HODL onto it for later as it’s going to play a fat dicken role when we get to** ***NFTittiesssss.*** + +1. He notes it as being “cryptographically protected, as well as ***public and transparent.”.*** In the act of settlement, money acts as coins on the ledger and the stock becomes diff kinds of assets on that ledger. +2. In proceeding with the transaction, you take the currency, w/e it may be, from the boomer (left) and exchange it with an asset from the Chad (right). + +https://preview.redd.it/j1svgxfi3cm71.png?width=636&format=png&auto=webp&s=8bdc28205a8c0943b012d7f57893d06bfaf20948 + +***Damn..doesn’t that seem a metric fuckton of a lot easier than that circus shitshow carnival displayed above? It’d be a real tragedy for anyone who profits dearly off the current dumpster fire’s fuckery, if a company were to take this to the next level…*** + +* To further validate the efficiency of this system, Byrne further states the following, ***“And there are no opportunities for mischief.*** ***Imagine a version of wall street that can't be cheated, that all kinds of mischief that people have gotten up to can't even be done in this world. A version of WS governed not just by regulators, but by laws of mathematics and cryptography. A friend of mine said they’ll have to come up with a new name for it, ‘lols’”.*** + +# Phase II - A Historical Precedent + +We’ve discussed the CEO, now comes the court filing and the response given by the Judge. Credit for discovering the video I’ve described above and the following information goes to [u/Minuteman\_Capital](https://www.reddit.com/u/Minuteman_Capital/). He encountered a similar level of suppression when releasing this insight 2 months back, to GC1. Within his post, he provides the direct court filings which substantiate the precedence for the ruling decided in Overstock's favor. But truly you must see the words of the judge for yourself to believe this shit. + +[https://www.reddit.com/r/Superstonk/comments/o6si8c/how\_overstocks\_squeeze\_was\_a\_twopart\_squiz\_court/](https://www.reddit.com/r/Superstonk/comments/o6si8c/how_overstocks_squeeze_was_a_twopart_squiz_court/) + +Here are the 4 counts filed against overstock which would later be dismissed by the judge - + +[ https:\/\/www.reddit.com\/r\/Superstonk\/comments\/o6si8c\/how\_overstocks\_squeeze\_was\_a\_twopart\_squiz\_court\/](https://preview.redd.it/te5eapjl3cm71.png?width=520&format=png&auto=webp&s=bce8674dd3d5ec843152632782cc97745ebccd66) + +Source: [https://ecf.utd.uscourts.gov/doc1/18315209043](https://ecf.utd.uscourts.gov/doc1/18315209043) + +Full case documentation: [https://ecf.utd.uscourts.gov/doc1/18315114807](https://ecf.utd.uscourts.gov/doc1/18315114807) + +Minuteman\_Capital’s translation (***Critical to note he states that he is not giving any form of financial advice, is not a registered securities agent of any kind, nor is this any form of legal advice)*** + +https://preview.redd.it/8j0x77eq3cm71.png?width=507&format=png&auto=webp&s=30fa4a04c1daf081809dc11b664aa4b443922d9e + +* Personally, it reads pretty damn similar to his breakdown. One thing I specifically want you to pay attention to is the final statement I underlined in red, in regard to the Judge’s statement higher up. **That part is critical to keep in mind, as it provides solid backing into how GME is very likely able to substantiate their** ***own*** **move with a similar approach.** + +At this point, you should have a decent understanding of ***the Foundation that yeets us to the next dimension,*** *as well as* ***the Precedent to execute such a move.*** In phase III we will be discussing ***the method of execution.*** \*If you made it this far...\*well first, I’m proud of u :’), secondly, ***hold onto ur fkn helmets cuz shit is about to get wild AF.*** + +# Phase III-a: D.A.O-NFTs + +Many of you may already know what NFTs are but here’s a refresher, and another concept that is absolutely critical for you to keep in mind and understand, known as DAOs (Decentralized Autonomous Organizations). Why do you need to know both of these? Because they are directly linked to one another, and the first part of the answer we’re looking for. + +(I’m directly highlighting shit from this fantastic fuckin page and I have no desire for redundancies. Also, this saves word count for me #finesse) + +**NFTs and DAOs for Ape level comprehension -** + +https://preview.redd.it/tjk3dsxs3cm71.png?width=616&format=png&auto=webp&s=6181cd9a9ecccd7f225e5b08e2f0a3a4516bf1d8 + +[https://www.interaxis.io/blog/explained-nfts-daos-coexist/](https://www.interaxis.io/blog/explained-nfts-daos-coexist/) + +Seriously...**read that shit if you just skipped down to this paragraph lol.** Continuing...now that you understand the link between these two, the question begs, ***what in cinnamon toast fuck am I getting onto?*** + +# Phase III-b + +To answer this, I need to provide some insight into a company a few of you may have heard about already, known as Loopring, which is known as “An open-sourced, audited, and non-custodial exchange and payment protocol. + +https://preview.redd.it/5tomjdhy3cm71.png?width=800&format=png&auto=webp&s=8678b0792fcafe893c7f2d320617cb87635ed1bf + +# Keep the above in mind, I’m going on a slight detour that is essential to discuss, it will all tie back in VERY soon + +Well fuck me over and call me Kenny G..\*\*you don't say….\*\*You know..this kind of rings a fat fucking bell, what was that prospectus statement I described in The Glass Castle OG post?.. Link to Prospectus: [https://news.gamestop.com/node/18961/html#toc](https://news.gamestop.com/node/18961/html#toc) \- Beginning at page 15 + +https://preview.redd.it/wxg0ivc04cm71.png?width=811&format=png&auto=webp&s=ec25fa7479276981549c255f3a4dc2e68efd3188 + +\*\*Oh boy…\**so the NEW dealer can resell the* ***NEWLY ISSUED series of securities, for which there is NO currently established market***. Well isn’t that something...b/c last I checked...\****LOOPING isn’t just some company capable of doing literally this...they’re quite literally THE company that has direct links to Gamestop. THE company for which Gamestop is likely planning to utilize in its release of an NFT marketplace.*** + +# Phase III-b continued + +Don’t believe me? Peep this fuckin glorious ape’s post I caught wind of a few days back…[https://www.reddit.com/r/Superstonk/comments/pfr12h/the\_link\_between\_gamestop\_and\_loopring/](https://www.reddit.com/r/Superstonk/comments/pfr12h/the_link_between_gamestop_and_loopring/) + +[u/Comprehensive\_Hawk19](https://www.reddit.com/user/Comprehensive_Hawk19/) \*\*- “\*\**I can see a link that may indicate that Gamestop do plan to release an NFT marketplace on Loopring. I stumbled across the ENS domain* ***gamestop.loopring.eth”*** + +* [***https://preview.redd.it/9f6bok5l5vk71.png?width=823&format=png&auto=webp&s=f44dc35953e5f028d9c87fcc8822dc76669e0d41***](https://preview.redd.it/9f6bok5l5vk71.png?width=823&format=png&auto=webp&s=f44dc35953e5f028d9c87fcc8822dc76669e0d41) + +\*\*“\*\****The controller of this domain is the contract 0x269635DF1C17f24e15E27786f0C28C3DD409B3D2”*** + +* [***https://etherscan.io/address/0x269635df1c17f24e15e27786f0c28c3dd409b3d2***](https://etherscan.io/address/0x269635df1c17f24e15e27786f0c28c3dd409b3d2) + +\*\*\*“\*\*\**The only transaction sent to this smart contract wallet is from*[***0x381636d0e4ed0fa6acf07d8fd821909fb63c0d10***](https://etherscan.io/address/0x381636d0e4ed0fa6acf07d8fd821909fb63c0d10) ***(Owned by Matt Finestone, Head of Blockchain at Gamestop)*** *on 27th May 2021. (Well after he moved from Loopring to GameStop)”* + +* [***https://preview.redd.it/ezk4cnjg7vk71.png?width=1256&format=png&auto=webp&s=34bc5398d3c3ae854290b6dc0b494fddde7c5c02***](https://preview.redd.it/ezk4cnjg7vk71.png?width=1256&format=png&auto=webp&s=34bc5398d3c3ae854290b6dc0b494fddde7c5c02) + +https://preview.redd.it/13rsp9w24cm71.png?width=602&format=png&auto=webp&s=f05f122572316e474d3c23d2ffc51800f4022847 + +[u/Comprehensive\_Hawk19](https://www.reddit.com/user/Comprehensive_Hawk19/) you are a fucking G of an ape, I commend your work, sir. Well done..and apes, **you didn't think I just threw in that D.A.O - NFT connection for shits and giggles did ya?** Well, guess what type of classification Loopring also falls under\*\*? Decentralized. Autonomous. Organization.\*\* But I fancy more evidence. *So how about we go to an entity that many of you would* ***least expect to further validate this information?*** **That’s right. The fuckin S E C.** In my search to learn more about re*securitization*, I would stumble across this page [Statement on Digital Asset Securities Issuance and Trading](https://www.sec.gov/news/public-statement/digital-asset-securites-issuuance-and-trading) and within the source list, find the following document [*https://www.sec.gov/litigation/investreport/34-81207.pdf*](https://www.sec.gov/litigation/investreport/34-81207.pdf) + +What is this dickslappin page? **The holy. Fuckin. Grail.** It’s an 18 pg document discussing an investigation on one of the *very first D.A.O entities, literally called* ***The D.A.O***\*.\* Though now defunct due to an ‘attacker’ utilizing an error in the code to siphon money out of the crowd-funded company (\*\*willing to bet this was done by none other than the fucboys currently deep in shit water..\*\*lol that's just me though), these funds would be returned to the original investors via a ‘hard-fork’. + +Fewer retard words, more tit slapping evidence though. After going through the entire document, here are a couple statements you’ll find interesting - + +https://preview.redd.it/592sbym44cm71.png?width=668&format=png&auto=webp&s=f9044e1c985123640a25a0d8ff76dc19b47d4cd1 + +We aren’t looking at this shit because of the crowd-sourced company called *The D.A.O* in the discussion here, but **instead,** ***the premise behind its concept. The same fuckin premise which current D.A.Os are founded upon***...literally go back up and read them again and compare if you need to. Only difference? + +**The concept is being** ***validated by the dingleberries that ‘regulate’ our market***. Also, notice any terms I talked about in **Phase I?** How about the *utilization of a fkn* ***LEDGER?*** Yeah...I told you that fucker Byrne was onto something..but.. + +**I came here for another reason.** At the very bottom of the paper document, **Section D**, which discusses the qualifications for an exchange that is ***separate from that of ‘stock exchanges’ we know of currently.*** + +**Section 3(a)(1)** of the Exchange Ac**t defines an “exchange”** as ***“any organization, association, or group of persons, whether incorporated or unincorporated, which constitutes, maintains, or provides a marketplace or facilities for bringing together purchasers and sellers of securities or for otherwise performing with respect to securities the functions commonly performed by a stock exchange as that term is generally understood*** … .” 15 U.S.C. § 78c(a)(1). + +https://preview.redd.it/f2dy0ns64cm71.png?width=724&format=png&auto=webp&s=6a7b72de1f5f959c628c09a9eac41d03976ecfad + +So, how many coincidences is it going to take this time? 6? 9? 69? Let's throw in one last thing. One last part. You’re almost done, and so are **they.** There remains only **one last thing.** + +The thermonuclear dickslap of a move across any shortbus hedgefund and Co member out there, priority-mailed directly by Gamestop’s excellent delivery services. + +# Phase IV - The Fragmented Castle. 7 4 1 + +Everything I’ve shown you thus far has led to this final phase. The final act. The answer which I believe has been staring us in our face, as to how it all goes down. In part 1, I left you apes with a statement as follows - "simplicity...simplicity in a complex situation, is leaving the complex situation entirely. Their system and all of its cracks, cannot be unseen, nor undone. To replace a system that is so evidently flawed with its complexities requires a simple solution\*, leaving it behind entirely, and creating something new.\* + +If you noticed this, then the immediate question to ask is ***how does one simply leave a rigged game?*** + +The answer has been in front of us for so long. The same way the zombie stocks had been, yet we apes forgot how to do simple math. What I show you from here, I leave to ***each and every one of you to decide what you believe***\*\*.\*\* ***How many coincidences does it take, before what you see, is no longer such a thing?*** + +So I offer you the insight brought forth to me by an ape that played a pivotal part in deducing the following, all I did was follow his trail. That number isn't a date. It isn’t some ruling. It isn’t anything other than a **simple equation.** + +**721 + 20 = 741.** Let's rewrite that one more time… **erc721 + erc20 = 741. The equation equivalent to** ***Anti-life***, ***that is...of every single short-sided entity***\*\*.\*\* The bridge that gaps between **this market..and the next.** Apes and apettes, the ***Castle of Glass*** *does not simply disappear. No, I’d argue…when it comes crashing down, that it shatters into* ***millions of pieces***\*.\* ***Millions of fragments.*** + +A concept that is an **F-NFT.** The ***fractionalization of Non-Fungible Tokens.*** + +In their prospectus filing GME states that if the entities that were positioned in completing their role as depository *failed at their task*, they would issue *new* global security. **Singular global security** ***retaining the value of the entire float***\*\*.\*\* Condensed down into a singular conduit. One such as **erc721.** + +*Why* erc721 though? I’d argue...because *it* ***IS*** **the bridge.** This singular, *novel, global security...retaining the* ***entire value of the float*** **is the security existing on a new game. One distanced from the fuckery and manipulation running deep through the veins of the current market as we know it.** + +But equating the float to singular global security begs the question. ***How*** would you redistribute such a thing? **Resecuritization, tokenization, and most importantly...fractionalization of erc721 smart contracts into derivatives, in a sense.** Fragmenting this NFT into **an equivalent amount of erc20** ***tokens***\*\*.\*\* ***Each is unique and unlike any other.*** Holding the ability to be more than *just a dividend.* **Holding true...real value. The value can be utilized for so much more. Limits uncapped.** But alas, my word is only just that. Mere words. I encourage you to **see for yourself.** + +https://preview.redd.it/rc0926394cm71.png?width=486&format=png&auto=webp&s=4a78750e213ddadb22f3e60baf040388e0fec18d + +https://preview.redd.it/7lmjvuu94cm71.png?width=464&format=png&auto=webp&s=69d21ad6632cb5ad3366b203073b036ccde99c1f + +[https://acceleratedcapital.substack.com/p/the-broken-mirror-an-overview-of](https://acceleratedcapital.substack.com/p/the-broken-mirror-an-overview-of) + +***What kind of entities holds the power to execute such a move?*** + +[ ](https://preview.redd.it/6tcqq73c4cm71.png?width=460&format=png&auto=webp&s=85f49c43b59ce027a9a675928071d4e9b13a0414) + +[https://medium.com/loopring-protocol/counterfactual-wallet-nfts-on-loopring-229d38a3c28a](https://medium.com/loopring-protocol/counterfactual-wallet-nfts-on-loopring-229d38a3c28a) + +That’s right, an entity such as Loopring. I’ll even go as far as saying that it *doesn’t HAVE to be Loopring* who acts as such a mediator in this move. Though the evidence is hard to ignore, the thing to realize is ***how this process occurs and which type of entities are capable of executing it***\*\*. D.A.Os,\*\* specifically those which are **A.M.Ms** and thus fall under the **A.T.S exemption,** as per the S.E.C. + +The king of 69D chess went as far as ***trapping these dipshits into a position he KNEW they would take***. This is *what* the whole premise of the last prospectus was. Gametop *knew* that Shortbus and Co would take the last 5 million share offering and utilize it for *continued fuckery...instead of covering.* **The thing about those shares though? They came with some serious strings attached.** Gamestop specifically stated that *if and WHEN* they decide to issue an alternative type of payment to their investors who bought those shares (principle, dividend, interest, etc)...that **those would HAVE to be paid down the line.** ***IF the respective entities FAILED at completing such a task, their actions will trigger GMEs trap card.*** I.e their ability to ***reissue global security equating to the entire float through another platform. A platform that need not have ANY ties to the current exchanges nor the fuckery within it.*** + +**The kind of global security could do such a thing?** ***A smart contract such as erc721 can be fractionalized into TOKENS through a D.A.O Automated Market Maker. Once distributed, it would equate to the release of the thermonuke...one which the shorts set off themselves. A share recall to follow in suit, and a squeeze not ONLY on one market...but two.*** + +The bridge between the old world and the new...but these aren't my words, they're **his -** + +https://preview.redd.it/0whijxud4cm71.png?width=876&format=png&auto=webp&s=ce62a0b6f8ec8100b14fb0261623ce166c1f4c47 + +Let's ask ourselves: What has Ryan Cohen said, that has gotten an All-star executive team from the world's leading companies, a team of leading nft/defi/blockchain experts to drop everything they were doing without a second thought to work for *Gamestop*?” I know we've all asked ourselves this question many times over many months. Consider how stunning it can be how *oblivious* the outer world is to what is going on with GME, and let's ask ourselves why would some of the most elite business executives and defi devs, on top of their respective sections of that outer world that is so oblivious, come to work for a company the outer world seems utterly certain will fail. **Might** it be that he described GMEs plans to pioneer the first major corporation moving its core business and downright equity securitization to blockchain/defi, which would irrevocably change the world forever and also probably trigger the short squeeze? + +\---------------------------------------------------- + +TL;DR (edited): I get it, it's still long but remember how far you had to scroll to even get here lol. Everything below is backed and validated by evidence and links. Don't trust my ass tho, I can lie. Verify for yourself apes! + +**Phase 1** \- I provided insight from the CEO of Overstock himself via a video breakdown in which he explains the current problem with our markets, i.e the fact we don't own a single share in anything, but ***a 'marker' of them***. Discussed his explanation of **Cede and Co (contains OG shares)**, they get sent off to the **DTCC (marker shares),** which then trade down the line through **brokers, market makers, hedge funds, and so forth,** until they reach **you**. It's a shitshow carnival. The solution, as per the CEO, is based in the E.t.h blockchain and he explains its efficiency. (video is from 2017). + +**Phase 2 -** Broke down the court filings for the overstock short squeeze and why the appointed judge pretty much said fuck you, to the hedge funds that tried to take the company to court on bs charges. The precedent for the judge's decision lays the groundwork for why *GME* can not only do the same but has an even greater argument to take similar action. + +**Phase 3 -** Broke down of **D.A.O (Decentralized Autonomous Organizations) and NFTs.** As well as how **they are** ***directly linked***. Followed up by introducing a D.A.O known as Loopring, which is the next generation of protocol fo**r layer 2 E.T.H blockchain,** and acts as an **A.M.M (automated market maker)**. Provided evidence for their ***direct link to Gamestop and how the latter is planning to utilize them for their new marketplace.*** This is done through revisiting the prospectus language last seen in GC1, along with the **S.E.Cs** ***own*** **documentation as to why it is something they allow.** + +**Phase IV - The holy fuckin grail. The true meaning behind 741 = erc721 (smart contract) + erc20 (fractionalized token) = 741.** This is the execution. The ender of the first game and the start of **New Game +.** GME traps shorts through their 1st share offering of 5m shares which had massive strings attached. The minute those were shorted, HF = fukt. **GME states they can issue new security on a novel market if the depository in control fails to issue out an alt payment sent out to their investors. Since they shorted the shares...they would be forced to get em back. Which they can't. So either the D.T.C does a recall or GME leaves, and the recall happens on its own. erc721 = global security holding valuation of the entire float, but existing on E.T.H blockchain. It is the bridge over. erc20 = a fragment of erc721 equal to not just the OG float...but** ***also every other synthetic created held by apes.*** **It can be dished out on the new market, in which the announcement alone of...would trigger the squeeze, not on one market...but** ***two.*** + +&#x200B; + +**EDIT I:** Before assessing the following, credit goes to u/mockute_lithuania for bringing this comment to my attention made by a user on the Loopring forum. **More importantly, the** ***MOST credible statement we could possibly need for this DD.*** **Assess the tweet for yourself, and look at the** ***date upon which it was done.*** + +As you're reading this, I need you guys to imagine the Independence Day hype speech and apply its context to our current situation. + +https://preview.redd.it/7n8gk3zcman71.png?width=825&format=png&auto=webp&s=1e155510593609c344d973ed572766684bcd5c91 + +https://preview.redd.it/lblkb9x9man71.png?width=526&format=png&auto=webp&s=598d79d9b18b4471129e65e2fe7a0ca1f73d716e + +Direct link to Mockute's comment and additional links. The example below can also be found in this thread and is stated at the end of u/SuckerPrayer's statement. Excellent breakdown btw. Everything prior is what I have elaborated on in this post. The below example, is simply, ***further validating evidence of the power contained within, the NFT.*** + +https://preview.redd.it/6mwqgn0lman71.png?width=807&format=png&auto=webp&s=608cfcfe2d277f9c1fc8cca519a9c1d26b572e0a + +***'I may have been early, but I'm not wrong' 😎🚀✨*** + +**EDIT II:** Seems about the right time to drop your first expansion pack to the DD, no EA bs, from the apes for the apes. Did I mention, those lego tweets? let's make a little bit more sense of them, shall we? + +First, assess this extremely wrinkle-brained apes DD of the N.F.T/blockchain functionality, [u/broken-neurons](https://www.reddit.com/user/broken-neurons/). To whom that provided this users post in the comments, thank you. This was dropped \*\*2 months back. (\*\*Below it you'll find a description from a link used earlier as well that I threw in). + +https://preview.redd.it/x21qqh768qm71.png?width=629&format=png&auto=webp&s=5ae477539dfd8003d53246aebd5bd0b2cc5a2c16 + +Now that you have an idea of how creators can **come together...the curveball follows in suit.** + +https://preview.redd.it/0us1tatg8qm71.png?width=446&format=png&auto=webp&s=66ddfacccbbf889a5468f1f4457fb2476bfad2d2 + +Credit for the top two tweets: [u/JAlectrk](https://www.reddit.com/user/JAlectrk/) Well done sir. As per his post, he states "***legos don't hurt, when they're NFTs*****🤔**". I'll have to agree with him on that statement...and **RC's.** 🚀 + +Credit for the bottom DD: [u/digi-transformation](https://www.reddit.com/user/digi-transformation/) Thanks for bringing this to light bud. Apes, you might want to see this for yourself, excellently written and backed with evidence. [https://www.reddit.com/r/Superstonk/comments/pg5cw7/lego\_partnership\_confirmed\_one\_of\_gamestops\_top/](https://www.reddit.com/r/Superstonk/comments/pg5cw7/lego_partnership_confirmed_one_of_gamestops_top/) + +Almost forgot, I breathe out of my mouth and walk on all 4s up stairs. None of this is financial advice. Game On, Anon 😎 +I am 26. Currently work full-time ($130K a year). Recently purchased my first home, a beautiful house in a quiet suburb about 20kms from the CBD. Limited knowledge of finance and only recently got into investing in ETFs. + +I am making this thread to provide a very basic overview of buying property - designed for people like myself who are not very well versed in the world of finance. I do not come from a particularly affluent family and had to learn all this myself from online reading, research, etc. + +Disclaimer = none of the below is legal advice. I am just sharing my thought process. Please see a lawyer. Do your own research. I hope that this helps though. + +**Step 1: Getting a loan** + +* Most people cannot afford to buy a house outright with money. Therefore, it is necessary to borrow money from a bank. This is called a "loan" or a "mortgage". +* The first step in getting a loan is contacting a **mortgage broker**. You can do some Googling but there are some pretty good ones out there (won't recommend any due to rules). +* The mortgage broker will want documents from you, including eg pay slips to show proof of income and statement of bank balance to show you have your deposit. +* Your mortgage broker will apply for what is called "**pre-approval**" - also called "**conditional approval**" or "**approval in principle**". This is basically a letter from the bank which states that the bank is willing to lend you a certain amount (eg $500,00) in theory based on the information you have provided about your income etc. This letter is critical as many sellers will want proof that you are "pre-approved". **Getting pre-approved is a critical step which you should try to do before you even look in the market.** + +**Step 2: Find your property** + +* Probably this is the most time-consuming step. What kind of property do you want? If you are looking for a first home, I would say that the following factors are important considerations insofar as they affect the price: + * **Location:** Where is the property based? + * Generally, closer to the CBD the better but more expensive. + * Consider location to schools, shops, amenities, parks, bush, etc. Think about how you will function on a day-to-day basis. + * Is it next to a motorway or train line? Consider noise. + * **Land size:** Land appreciates in value, so the bigger the better generally speaking. You will not find many houses above a quarter acre (1000sqm) below $1M - so temper your expectations. I have friends who have bought smaller blocks between 250 - 350sqm as their first home. Nowadays if you can get 600sqm that's great. + * **Number of bedrooms, bathrooms and carports:** My house was 4 bedroom, 2 bathroom, 2 carports. I chose this because if I choose to re sell in the future it would have more potential to bigger families. But you will see some that are 3 / 1 / 1 as well. +* How to work out market value? + * People will tell you "do your own research". This is not helpful advice. How do you do that research? Here are my strategies: + * You can look at similar properties in the same area and compare what they were sold for. To find comparable properties just do a filter search on realestate. Be aware that due to the pace of the market, houses that were sold 2+ months ago may not reflect existing prices. + * You can ask your mortgage broker for the CoreLogic report (CoreLogic is a very big company that does property analysis and they are widely used in the industry). The report will give you a price range based on comparables. + * There are online websites you can use to determine property value (I won't link any here as I don't want to breach the rules). + * **Real estate agents will give you price guides but you always want to do your own research too and take it with a grain of salt.** + +**Step 3: Making an offer** + +* There are 2 ways to buy. + * **Method 1: Multiple offer scenario - private treaty** + * This is where agents invite you to make a "best and final" offer. All offers are anonymous. Best offer wins. + * It is illegal for agents to reveal other people's offers but in my experience this is not uncommon as they want to achieve the best result for the seller. Just be careful not to get too emotional. + * Making an offer involves completing a form stating your terms eg price, deposit, conditions. Usually the two most important conditions are a **(1) satisfactory BUILDING and PEST inspection** and **(2) obtaining FORMAL approval from the bank.** + * **Method 2: Auction** + * I did not buy via auction but this process involves a great deal of competition and I would probably get a buyers agent as you will be competing against very seasoned property investors most of the time. It is easy to get carried away by your emotions and overpay. + +**Step 4: Contract signed** + +* Get some advice from a lawyer once you receive the contract. If you sign it, the property is said to be "under offer" or "under contract". Your lawyer will advise you on the critical dates. +* Some important steps in the process include: + * **Initial deposit:** Usually in the first 1-2 days after the contract you have to pay an initial deposit - usually $1,000 + * **Balance deposit:** The contract will specify when this is due. Usually parties will say it is due when your bank gives you formal approval (will explain what this means later). The initial and balance deposit should equal 5% - 10% of the purchase price. Please note you have to pay this on time otherwise it is a breach of contract and you will lose your deposit. + * **Building and pest:** Your contract will allow you to hire someone to do a building and pest inspection. If you are not happy with the inspection results, you can terminate the contract with no penalty. This is where you pay someone (usually $500 or so) to come to the property and inspect it for serious issues such as pests eg termites and structural issues. The expert will prepare a report. Please note the report will be filled with disclaimers and qualifications as they want to reduce their risk of being sued. Best way is just to call the inspector and talk over the phone with them. If you are happy with the report, your lawyer will satisfy the building and pest condition in the contract. + * **Finance:** In addition to the building and pest condition contracts will usually have a finance condition. This basically means unless the bank gives you formal approval you can terminate the contract. So after you have your pre-approval, your mortgage broker or your bank (if dealing with them directly) will grant you formal approval. They may want additional pay slips or ask more questions but usually it is a straightforward process. + * **Unconditional contract:** An unconditional contract is one where you have satisfied the building and pest and finance conditions. You are now locked in and cannot terminate except for exceptional reasons. + +**Step 5: Pre-settlement steps** + +* Prior to settlement (meaning the "exchange" where the money is paid and all the forms are lodged and registered to transfer ownership, etc.), you have the right to do a pre-settlement inspection. This is just you showing up and looking to see if it is in the same condition. +* Your lawyer will conduct any due diligence enquiries eg searching for water, council, rates . etc that must be apportioned. Searches may also be done to see if the property is contaminated, if the sellers are insolvent, etc. + +**Step 6: Settlement** + +* Your lawyer will handle everything. They should be able to do this online eg via PEXA (which is the online platform) or in person. At settlement all the monies are paid and forms are given to the bank, the seller, etc. I like to think of this stage as the process where all the paperwork is finalised. + +**Paying off your mortgage** + +* Bank will send you your account details. Similar to internet banking. You just log on and pay off the mortgage. You can set up automatic deductions. +* Talk to your mortgage broker about having an "offset account" - a very popular feature for many home-owners. + +I know this is a very simplistic overview but I hope it helps people who are new to this stuff (I am still new myself but hope to acquire some good investment properties in the future). +Is economics a universal law like physics or mathematics? In other words, is what we consider "economics" just a byproduct of the way our particular civilization evolved, or does economics apply to all civilizations? + +For example, was there inflation in Mesopotamia, recessions in Jerusalem when Jesus was around, and oligopolies in Medieval times? On an even larger scale, would it be safe to assume that any hypothetical alien civilizations (that are at least somewhat similar to us biologically) would have the same fundamental economics that we do? +# Introduction + +Without a doubt 2021 has been the most pivotal year for the uranium industry in more than a decade. The markets, politicians and corporations appear to have recognised that without nuclear power being a part of the energy conversation, a sustainable, zero carbon emission future will be near impossible to achieve. + +This recognition, coupled with multiple other factors including; major supply deficits, the exponential growth of the EV industry and its increasing power requirements and, more recently, the emergence of the Sprott Physical Uranium Trust (SPUT), has helped the spot uranium price hit near decade long highs. + +As a result we have seen massive gains across the uranium equities, particularly those on the ASX. But the best part is that the current cycle is still in its infancy. It is unlikely new production will come online during the next 12 months and further uranium price increases will be necessary for brownfield and almost all greenfield projects to commence. + +To put how small the uranium market still is into perspective: The WHOLE global market is worth only about US$42 billion (to date). That is all the uranium equities all around the world, the ETFs and major funds are worth a combined $42billion. Now Glencore is just a single major coal producer and has a market cap of US$64.46 Billion ! Let that radiate for bit. + +**This post will cover**: + +* Performance of ASX Equities for the past year and past 3months (Charts) +* The different types or stages of the ASX Uranium Equities (miners vs explorers) +* Comparison of the key mining and mine development companies +* Company Briefs and Updates + * Activities Last 12 months + * Pros and cons for each +* ETF Inclusion and re-balancing +* Punt’s Rocket Rating Update 🚀 + +For details of the [Uranium Bull Market Background](https://www.reddit.com/r/ASX_Bets/comments/lftl86/the_emerging_global_uranium_bull_market_a_summary/) \- see this post originally from September last year which was revamped in Feb 2021. + +For a detailed post on **everything** Nuclear Power, The Uranium Market update, SMR technology, managing waste, nuclear costs and much more - see \*\*this\*\* detailed u/Mutated-Cunt and +u/Calculated-Punt collaboration post **\*\*"this" is due soon and will be linked here\*\*** + +# ASX Uranium Performance - Chart Comparison + +[1 Year Performance Graph \(weekly\):](https://preview.redd.it/r2gw70k8viy71.png?width=903&format=png&auto=webp&s=5b8088ee7ad93633339b95c4850da5c55168ad1e) + +[3 Month Performance Graph \(weekly\)](https://preview.redd.it/eekpklneviy71.png?width=903&format=png&auto=webp&s=6da50e215841d79079ed6a5ba5dda3fa624338e9) + +# Types of ASX Uranium Companies + +The uranium companies can be divided into 3x Key Categories: **Miners** or near term producers, **mine developers** and **exploration** companies. There is also one uranium enrichment technology company on the ASX - Silex Systems (ASX: SLX) - but that is not included in the coverage. + +**ASX Uranium Miners / Producers** + +This covers the few ASX companies that have a uranium mine somewhere in the world that uranium can be produced from though may require some capital investment to restart. Currently ALL ASX dedicated uranium miners have their mines shut-in on care and maintenance while uranium prices are too low to sustain operation of the mine. The uranium miners will be the first to re-introduce supply to the uranium market when higher contract term prices are signed. Some of these miners, even though shut-in, have been purchasing physical lbs of uranium (like BOE to PEN) as a strategic stockpile investment and to also meet existing contract deliveries. There are also companies like BHP and Rio Tinto that have some uranium production, though this is not a primary asset, and for the likes of BHP uranium is a by-product from the copper Olympic Dam mine. These companies are not included in the coverage. Below are the main ASX uranium miners + +* **Peninsular Energy** (ASX: PEN) ---- Lance Project ISR Mine in Wyoming. Previous Producer. On care and maintenance. +* **Lotus Resources** (ASX: LOT) ------ Purchased the open-pit Kaylekera mine in Malawi from Paladin in March 2020. On care and maintenance +* **Boss Energy** (ASX: BOE) ----- Purchased the Honeymoon ISR mine from Uranium One in 2013. On care and maintenance +* **Paladin Energy** (ASX: PDN) ---- Retained the Langer Heinrich mine in Namibia - developed in the last cycle. On care and maintenance + +**ASX Uranium Mine Developers** + +These companies are those that have proved up a significant uranium resource and have conducted a series of studies or pilot plants for a large mine development. The Uranium Mine developers include: + +* **Aura Energy** (ASX: AEE) ----Tiris Project in Mauritania +* **Bannerman Energy** (ASX: BMN) ---- Etango Project in Namibia +* **Deep Yellow** (ASX: DYL) ----- Tumas Project Namibia +* **Toro Energy** (ASX: TOE) ----- Wiluna Project - Western Australia +* **Vimy Resources** (ASX: VMY) ----- Mulga Rock Project - Western Australia + +**ASX Uranium Explorers** + +Not necessarily dedicated to just uranium exploration as many exploration companies are in the search for other minerals such as gold, vanadium, battery metals and rare earths and will jump between what is hot at the time. This selection has some drilling or exploration committed to uranium exploration with at least 40-50% of the company and funding focused on the asset. + +* **GTI Resources** (ASX: GTR) Exploration in Utah and Wyoming (USA) +* **92 Energy** (ASX: 92E) Exploring Athabasca basin (Canada) +* **Elevate Uranium** (ASX: EL8) Largest tenements of exploration in Namibia +* **Alligator Energy** (ASX: AGE) Exploration tenements in SA and NT (Aus) + +There are a number of additional “uranium exploration companies” that don’t meet the criteria for worthwhile assessment. + +# ASX Uranium Miners and Developers Comparison Chart + +Credit to u/gloriathehippo for helping compile this table. NOTE: if you copy this table - then give credit where credit is due please. + +[Comparison Table of ASX Uranium Miners and Mine Developers. ](https://preview.redd.it/nql9eukzwiy71.jpg?width=1280&format=pjpg&auto=webp&s=2b6a3f549a1143c23e327f430c3a594168e78a75) + +# ASX Uranium Companies Brief and Update + +# Lotus Resources (LOT) + +**Brief History** + +Lotus purchased the Kaylekera mine (Malawi) from Paladin in March 2020 along with the surrounding exploration leases and infrastructure. Kaylekera previously produced 11Million lbs under Paladin operation from 2009-2014. + +**Key Activities Last 6-12months** + +* Ore Sorting Trials - Results of increasing grades by up to 100% with higher recoveries >92% (i.e. they autonomously sift through the ore to dispose of excess waste material before it goes through the mine plant). +* Increased ownership in Kaylekera from 65% to 85% (remainder 15% with Malawi Government) +* Near mine exploration - very under-explored with high upside potential +* 5,000m RC Exploration drill program - exploring for uranium AND rare earths + * 4,000m focused on Uranium and 1,000m focused on RE - results due late 2021 +* Acquired tenement with proven 6M lb in ground resource for $0.004/lb (total $25k) +* Cash of $29.1million with many options yet to be converted + +**Potential Catalysts and Forecast Activities** + +* Exploration Drilling results due late 2021 --> increase uranium resource size +* Rare earth discovery +* Definitive Feasibility study (DFS) due out in June/July 2022 +* Looking to go into contract negotiations in 2022 + * “Plan is to lock in multiple contracts in a layered approach with some produced lbs kept to the side for sale into spot market to maximise capital value” + +**Timeframe to production** + +* DFS +6months to negotiate capital and on contracts → end of 2022 for FID +* Refurbishment of plant to take 12-15months to complete → be producing uranium by Q1 2024 + +[Lotus Resources Pros vs Cons](https://preview.redd.it/mwq0q5fzxiy71.png?width=719&format=png&auto=webp&s=7e0763fd77883ae43d942da53410f1bdeec22fd0) + +# Boss Energy (BOE) + +**Brief History** + +Boss Energy (formerly Boss Resources) purchased the HoneyMoon mine and plant in central South Australia from US company Uranium One in December 2015. BOE has since increased the JORC resource size from 16.6Mlbs to 71.6Mlbs (\~331% increase), undertaken a number of studies and plant optimisation improvements and purchased 1.25 Mlbs of U3O8 as strategic stockpile. + +**Key Activities Last 6-12months** + +* Feasibility Study (FS) - Released in January 2020 +* Completion of Enhanced Feasibility Study (EFS) - Released in June 2021 + * Plans to remove the existing SX plant and replaced it with IX capacity to increase the production profile to 2.45Mlb/annum over a 10+ year mine life and reduce operating costs to achieve industry benchmark goals for low-cost producers of AISC of US$25/lb and cash costs lower than US$20/lb. +* Completion of two significant capital raisings: first for $15 million(@ $0.067/share Oct 2020) and an additional $60 million (@ $0.14/ share) during March 2021. +* Purchase and acquisition of 1.25 Million lbs of physical U3O8 @ US$30.15/lb - March 2021 + * Total cost of US$37.68M (A$49.69M) . This inventory is now valued at US$53.75M (A$73.83M) at spot price of US$43.00/lb. A$24mill book return on investment. +* Accelerated development of the exploration program which has already seen a JORC increase from 16.6Mlbs to 71.6Mlbs. + +“In addition to the substantial profit we stand to make on this investment, the stockpile de-risks our start-up process and therefore strengthens our hand in negotiations with potential customers.” - Duncan Craib (MD) + +**Potential Catalysts and Forecast Activities** + +* Ramping up of exploration activities with drill programs commencing in the December quarter 2021. +* Signing of first long term contract(s) +* FID and expediting time-frame to mine and plant restart + +[Boss Energy Pros and Cons](https://preview.redd.it/lqfvuuj3yiy71.png?width=704&format=png&auto=webp&s=d80183476c81d5259dcf989511b1cfc6b61f45d3) + +# Peninsula Energy (PEN) + +**Brief History** + +PEN is an Australian listed uranium mining company which commenced in-situ recovery uranium operations at their flagship 100% owned Lance Project (Wyoming) in December 2015. They have an existing contract book with about US$8mill revenue per year despite having their mine shut-in for the past 3 years. They are currently embarking on a trans-formative initiative to change from an alkaline ISR operation to a low pH (acidic) operation with the aim of reducing the cost profile and improving production efficiency. PEN requires approx US$6mill to convert the whole mine from alkaline to pH operation and approx 8months time frame following FID. + +**Key Activities Last 6-12 Months** + +* Advancing transition to low pH ISR process through field demonstration + * Demonstration has been operating for 12month - with uranium grades indicating that Lance is better suited to the planned low pH process than previous alkaline based operations. +* FY2021 uranium sales of 275,000 lbs - continue to generate cash for PEN +* An increase in lbs sold and for a higher recognised price per lb +* Cap raise of A$15.4 million (@ $0.015/share) to purchase 300,000 lbs or uranium at US$31.35/lb +* As of June 30th 2021, Net cash of US$6.7mill + 309,507 lbs of uranium inventory (book value of US$9.7mill @ $31.37/lb) + +**Potential Catalysts and Forecast Activities** + +* US Dept of Energy progressing Uranium Reserve - PEN seeking to be active participant (potential funding from reserve or offtake agreements) +* Completion of field demonstration (started in August 2020, expected to run 18-24months) +* FID and restart of operations (will require some additional funding \~US$6mill) +* Likely to develop additional fields to replace depleting ISR operations ($$) + +[Peninsular Energy Pros vs Cons](https://preview.redd.it/190mwq4fyiy71.png?width=726&format=png&auto=webp&s=5c9badcec97a356437db0b896786cd1339005dec) + + What does an insitu-recovery mine look like? Those black barrels are ISU wellheads and pumps. + +[Lance Project ISR Uranium Mine - Wyoming USA](https://preview.redd.it/5u1ou5miyiy71.png?width=602&format=png&auto=webp&s=bb9f7fb2d7527893c12d9808285a39b85f3beb97) + +# Paladin (PDN) + +**Brief History:** Paladin is one of the very few OG uranium miners that are still around from the previous major 2005-2011 cycle. They built the flagship Langer Heinrich mine in Namibia and later the Kaylekera mine in Malawi that they sold to Lotus Resources in March 2020. PDN own 75% of the Langer Heinrich mine with the remainder shared between Namibian government and CNNC. The mine produced over 43Mlb of U3O8 but was suspended in 2018 due to low uranium prices. Paladin also own a large global portfolio for uranium explorers assets. + +**Key Activities Last 6-12 Months** + +* Progress restart plan elements + * Optimise pit design, tailings management and mining schedules + * Appointment of key contractors +* Capital raise of A$218.7M to redeem and cancel US$115m senior notes (i.e. debt repayment) +* Company held US$30.7mill of cash and cash equivalents by June 30th 2021 + +**Potential Catalysts and Forecast Activities**. + +* Sell of some exploration assets to raise funds +* FID to expedite mine restart +* Likely need a capital raise going into CY2023 + +[Paladin Pros vs Cons](https://preview.redd.it/o57ve1btyiy71.png?width=695&format=png&auto=webp&s=1b791d427e00ae79354bba7c332c62341b3fbe11) + +[Paladin's Langer Heinrich Mine \(Namibia\)](https://preview.redd.it/pnxrtgwuyiy71.png?width=602&format=png&auto=webp&s=89fec94ceda2c4fbda90a612ddf74bb2bbf781fa) + +# Bannerman Energy (BMN) + +**Brief History:** BMN is an exploration and development company focused on Etango Uranium project in Namibia since 2005. One of the few companies around from the previous bull market. Globally significant resource endowment (207.8Mlbs!) - one of the world’s largest undeveloped uranium deposits.