diff --git "a/reddit_finance_43_250k_424.txt" "b/reddit_finance_43_250k_424.txt" new file mode 100644--- /dev/null +++ "b/reddit_finance_43_250k_424.txt" @@ -0,0 +1,10000 @@ + +I know this isn’t *exactly* fat related, so if the mods don’t think it should be here, please feel free to delete. I am an only child and the entire reason I inherited any money was because I lost my whole line of mentors above me. I see people say often in this sub that they hope their kids don’t post on Reddit for advice when they croak, but, It truly sucks not having my parent around for this type of advice. For obvious reasons, nobody else is privy to the fact that I’m sitting on 3.5 mil of mostly inherited money. +My family (husband, wife, and toddler) want to escape the cold winter months and buy a condo in Florida. We're not sure where to look. Asking for Fat(ish) recommendations! Budget is $1m-1.5m, hoping for a condo since there is less to worry about and should be within an hour of a major airport. We know Miami pretty well, but that feels a bit too touristy. We still want a fun vibe though (walking or easy Uber distance), restaurants, bars, outdoorsy, fun pools, access to the beach. + +Could really use some locations to research before we go and visit! Thank you in advance! + +Apologizes if this isn't the right subreddit - will delete if so! +https://www.theguardian.com/lifeandstyle/2018/may/05/happiness-curve-life-gets-better-after-50-jonathan-rauch + +Not directly FI related, but I thought this was an interesting read on research being done that shows happiness is a U-Curve with people's happiness hitting a trough in their 40's before bouncing back up in their 50's and beyond. For many folks on this sub, this could coincide with our FIRE timelines so it's interesting to explore. +I know people who once reading this, decided not to bother with crypto. Why?? Because it made them think that exchanges are being hacked on the daily, for everyone to be so hardcore about never leaving anything on an exchange. I’ve had a hard time converting my friends to crypto due to the following statements. + +1. You “must” IMMEDIATELY transfer to cold storage or risk losing all your coins. + +2. “Do not order your Trezor / ledger from Amazon” because they might put software on that to hack it and steal your crypto. + +3. “Don’t use hot wallets” because they are also not secure, and will get hacked. + +4. “Do not use platforms like Blockfi and Celsius” + +5. “Do not buy crypto ETFS” + +6. Do not use any service that stores their crypto with Gemini cold storage. Even though it’s cold storage it cannot be trusted at all, unless it is your own cold storage, ordered directly from the manufacturer + +I get it. There are risks with not owning your crypto. Just like your bank account has a chance of getting hacked. And your car has a chance of getting broken into. Or someone could break into your house and steal your seed phrase. Or steal your identity and open accounts in your name. Or your house could burn down with your seed phrase inside. + +The crypto community unfortunately makes it seem to newbies like there is a 100% chance of getting hacked on any platform you use, and you are an idiot if you leave anything for a second on anything besides a cold storage wallet. I actually delayed getting into crypto for a year because of this. then when I did I checked the exchange and Exodus every hour making sure nobody was stealing my coins, while I waited to receive my ledger in the mail. +I was watching a documentary on poverty. One mother said she's sending her kids off to other people's houses because she couldn't afford Christmas dinner. Maybe it's unpopular opinion, but I think as long as the family is together, it shouldn't matter what they eat. Christmas Dinner doesn't have to be ham, turkey, stuffing, pies, casseroles, etc. It could be a regular (yet delicious) meal like spaghetti or macaroni and cheese. +&#x200B; + +https://i.redd.it/1qlqv8g8eho21.png + +&#x200B; + +&#x200B; + +And I can carry over remaining -$10,345 net loss to lower my taxes for next 3\~4 years. + +This is an easy way to lower your federal taxes dues, so I highly recommend you to use this strategy if you are concerned or is afraid of paying taxes next year. +Hey guys + +Looking at creating a couple of living trusts, one for real estate, insurance and some other fairly liquid assets and one for retirement assets (things like IRA and 401k). + +Wondering what kind of recurring costs one should expect. Say after a few $thousand to get it off the ground, (let’s just say I am comfortable with that), but then on an ongoing basis curious what you folks have seen as far as estate mgmt fees, tax, anything unexpected / additional etc. Seems a bit like Pandora’s box, so trying to determine if worth it. + +Thanks +Every time Computershare comes up on this sub, the message is "only for shares you aren't going to sell". Ask yourself why... The fact is there is nothing stopping you from selling those shares. The settlement is not as fast as traditional brokers. You might have to make a phone call. But MOASS will NOT be a race to sell. We all understand that the MOASS will take days/weeks, you don't need settlement within a minute to cash out shares. + +The fact that EVERY SINGLE time Computershare is mentioned, the narrative is "only for shares you don't want to sell" is super suspicious. If everyone believes this lie, it will prevent 99% of us from transferring significant holdings. Most people don't want to martyr themselves, or can't afford more than a handful of shares. + +I think there is a very good chance that transferring the float to CS is the catalyst we need, and certainly terrifies the SHFs. Ultimately there is nothing they can do to stop it, except convince apes that those shares are not sellable. That's is why they are pushing the false narrative that CS is for inf-pool only. Don't fall for this BS. I'm holding shares on CS, and I'm gonna sell all of them. +I bought a 25 acre property in 2008, it had been in the family I bought from for many years. There were 2 sfh within the boundaries, but were deeded to daughters so I didnt purchase them at this time. I have since bought one of the properties. + +The other was puchased by a neighbor and the way the land was divided up in the past, according to the deed I own the yard to my neighbors rental including most if his paved driveway. + +I have been generous and allowed him to keep mowing it and his renters have their dog on my land, trampoline on my land, and park their car on my land. + +My neighbor and I get along fine, how should I handle this? Should I offer to sale him land at fair price? Keep letting him use it at no cost? Start surveying to let him know I will be fencing my boundary in and let him approach me about purchasing. + +I feel like I need to either sell him what he is using or I have mentioned him selling me the house that is in the middle of my land...opinios? +I am basically a commercial loan underwriter for a bank and today is the first time on a deal I have had to stress the interest rate to over 7% on some models. Lock in your rates when you can ladies and gents the rise is probably just beginning. +Interest rate and what index? LIBOR? Prime? Fixed? + +Interest only? Amort period? + +Who had the leverage when negotiating term sheet? You or your lender? + +Anything you regret or would’ve done better? +My dad owns a house that he rents out; the tenant stopped paying rent when my dad told the tenant he had 30 days to vacate because my dad wanted to sell the property. My dad then put an eviction request to the court, where it has now sat for 7 months (Clark county, GA). Is there anything he can do to help accelerate the process? The guy has been living rent free for almost a year now. + +EDIT: my dad did provide proper written notice and they do have a written lease agreement that the tenant is clearly in violation of +My wife and I have lived in our home for 4.5 years and plan to move closer to family and work. The house was a rental before we bought it and moved into it. We're considering (well, I am - she might need some convincing) turning it back into a rental home because I think the numbers would probably work out. We're going to live with my parents for a while until we find another place for ourselves. + +Owning rental properties is very appealing to me but we don't currently own any. I would like to eventually own several. So, what are things we need to consider (taxes, rehab, tenants, etc.) before deciding whether to sell or keep our current home as an income property? Thanks. +Do you know if anyone has bought land, and built a kit home on top? + +I understand there’s a lot of sweat equity but maybe there’s an opportunity to build a few homes and sell/rent them. + +So many homes are unaffordable that this could be a start? Thoughts? + [Facebook](https://www.cnbc.com/quotes/FB) shares tumbled more than 16% in extended trading after the company reported disappointing earnings and gave a weaker-than-expected forecast. + +Here are the results. + +* **Earnings per share:** $3.67 vs $3.84 expected, according to a Refinitiv survey of analysts +* **Revenue:** $33.67 billion vs $33.4 billion expected, according to Refinitiv + +Wall Street is also watching other key numbers in the report. + +* **Daily Active Users (DAUs):** 1.95 billion expected by analysts, according to StreetAccount +* **Monthly Active Users (MAUs):** 2.95 billion expected by analysts, according to StreetAccount +* **Average Revenue per User (ARPU):** $11.38 expected by analysts, according to Street Account +Ok, let me get this straight: I like Bitcoin. With all the Western Union ad memes I just get annoyed; why? Because I think Bitcoin is not (yet) a good contestant or even alternative for WU. + +From a consumer's perspective; + +------------------ + +**Contestant A: Western Union** + +* Send actual USD. Input $100 in the system, and pickup $95 on the other side anywhere in the world. +* No AML docs required below a certain amount. +* Above a certain amount you need to show ID. No registration required though. +* The cash received is 99.9% guaranteed not to be counterfeit cash. +* No risk of getting ripped off inside the WU office - unlike localbitcoins.com transactions. + +**Result: $95. Took about an hour max.** + +---------------------- + +**Contestant B: Bitcoin** + +* AML/KYC verified Accounts needed at an exchange. ID, Proof-of-residence, names, sometimes a selfie. +* Both parties need to have Bitcoin wallet software. +* Transmitter pays a small fee. +* Receiver runs counterparty risk from that moment. +* Receiver needs to wait a few blocks before able to transfer to exchange. (hour?) +* Receiver needs to transfer to exchange, wait 6 confirmations or more. +* Receiver exchanges to USD *pays fee in the 1% range*. +* Receiver does USD withdraw (pays fee). +* Receiver needs to **wait a few days for the USD** over wire/swift banking system. +* Optional: Receiver does a cash withdrawal from bank account. Pay fee. + +**Result: $96-ish (estimate) after paying fees (3 to 4 times), and average volatility both ways after about 3 to 5 working days.** + +---------------------- + +Alternative would be - localbitcoins for cash- but that would have even worse fees, and still requires you to leave you home **might as well use WU** + +Again, I love Bitcoin - but the industry is not mature enough to go fight a behemoth like WU. + +Come on guys, let's stay realistic...... + +*Edit: I just know I'm going to get downvoted for writing this, but we really should focus on fixing the problem (making Bitcoin suited for money-transmission disruption) instead of looking the other way.* + + +Please use this thread to have discussions which you don't feel warrant a new post to the sub. While the Rules for posting questions on the basics of personal finance/investing topics are relaxed a little bit here, the rules against memes/spam/self-promotion/excessive rudeness/politics still apply! + +Have a look at the [FAQ](https://www.reddit.com/r/financialindependence/wiki/faq) for this subreddit before posting to see if your question is frequently asked. + +Since this post does tend to get busy, consider sorting the comments by "new" (instead of "best" or "top") to see the newest posts. +He is two and a half and loves all things horses. I really want to get him a Radio Flyer spring horse for Christmas. But it is $120 new, and I have two more boys to get presents for. I just can't do it. However, I found one on OfferUp in great condition for only $50! The thing is though, would I be the worst mom ever to get him a second hand toy as a Christmas gift? Is it trashy? +Hey everyone, +as the title states my wife was having severe stomach pain and went to the local emergency services center (National Medical processionals is who runs the place FYI) (not emergency room at a hospital) + +The first thing she did was have them look at our insurance policy and make 100% sure everything would be covered. + +After reviewing the policy the Dr. who was attending told her that yes everything was in network and would be covered by our blue cross insurance policy. + +Fast forward about 2 weeks, we receive a check from our insurance policy for about $9100 to give to the emergency services place for her care. + +I delivered the check and everything seemed fine until yesterday we received a bill from National Medical Professionals stating that because our insurance didn't cover the physician eval we owe'd them about $2500. + +Today we called our insurance provider, Blue cross/shield, and asked for the break down and what we were told is that the 9k check was for the facilities and the services provided but the 2500 was not paid by insurance because though the facility was in network the Dr. was not. + +Does the community have any advice, have we missed something we should try, or is this just lesson learned and we have to bite the $2500 bullet on this one? + +Thanks everyone! + +Also my wife is fine and in great health. :) +[St Louis Fed president says](https://www.cnbc.com/2022/02/14/bullard-say-the-fed-needs-to-front-load-tightening-because-inflation-is-possibly-accelerating.html) Fed has to front load hikes as inflation is accelerating. Why don't they simply shut up and announce a half point , or 3/4 point hike? Is this system that levered and frail that after months of signalling, the market can't handle .50? That seems way more concerning structurally than inflation, imo. + +&#x200B; + +Edit: Correction to Change "Fed says" in hyperlink due to mistake noticed by a commenter. +[Source](https://www.federalreserve.gov/newsevents/pressreleases/files/bcreg20221014a1.pdf) + +>[The Federal Reserve Board on Friday invited public comment on an advance notice of proposed rulemaking to enhance regulators' ability to resolve large banks in an orderly way should they fail.](https://www.federalreserve.gov/newsevents/pressreleases/bcreg20221014a.htm) +> +>Recent merger activity and organic growth have increased the size of large banking organizations. **If they were to fail, their large size could complicate efforts by regulators to resolve the firms without disruption to customers and counterparties.** +> +>**As a result, the advance notice of proposed rulemaking asks for comment on several potential new requirements and resources that could be used for an orderly resolution of these large banking organizations, including a long-term debt requirement.** +> +>"As the banking system changes, policymakers must continuously evaluate whether resolution-related standards and prudential standards for large banks keep pace," Vice Chair for Supervision Michael S. Barr said. "That is why we welcome comment on an advance notice of proposed rulemaking on resolution-related standards, and are evaluating whether capital requirements for large banks, including global systemically important banks—as well as other elements of the prudential framework—should be updated." +> +>The advance notice of proposed rulemaking was jointly developed with the Federal Deposit Insurance Corporation (FDIC). Comments will be accepted for 60 days after publication in the *Federal Register*. +> +>Also on Friday, the Board announced its approval of the application by U.S. Bancorp, of Minneapolis, Minnesota, to acquire MUFG Union Bank, National Association, of San Francisco, California. In connection with the Board's approval, U.S. Bancorp has committed to provide the Board and the FDIC with an interim update to its resolution plan reflecting the combined organization, and implementation plans related to heightened prudential standards. + +[https:\/\/www.federalreserve.gov\/newsevents\/pressreleases\/files\/bcreg20221014a1.pdf ](https://preview.redd.it/b9m393rurst91.png?width=827&format=png&auto=webp&s=c7b19559ee2d13d9516986ce5d7e6ff2e571cbd9) + +[*Federal Register* notice: Resolution-Related Resource Requirements for Large Banking Organizations (PDF)](https://www.federalreserve.gov/newsevents/pressreleases/files/bcreg20221014a1.pdf) + +[Board memo (PDF)](https://www.federalreserve.gov/newsevents/pressreleases/files/bcreg20221014a2.pdf) + +[Order Approving the Acquisition of a Bank (PDF)](https://www.federalreserve.gov/newsevents/pressreleases/files/bcreg20221014a3.pdf) + +[Statement by Vice Chair Brainard](https://www.federalreserve.gov/newsevents/pressreleases/brainard-statement-20221014.htm) + +>**As I have noted previously, the increases in banking concentration in the $250-700 billion asset size category raise concerns. Since we know from experience that even noncomplex banks in that range can pose risks to the broader financial system when they experience financial distress, I am encouraged that the Board is seeking comment on an advance proposal to improve their resolvability through long-term debt requirements and is undertaking a serious review of large bank capital requirements.** + +[Statement by Governor Bowman](https://www.federalreserve.gov/newsevents/pressreleases/bowman-statement-20221014.htm) + +>Today, the Board acted on two matters: (1) the publication of an advance notice of proposed rulemaking (ANPR) soliciting public feedback on changes to the large bank resolution plan framework, and (2) approval of an application filed by U.S. Bancorp. **While I generally support both actions on their individual merits, I believe these matters should not be expressly linked, and there are elements of these actions that raise additional concerns.** +> +>*Advance Notice of Proposed Rulemaking*While the resolvability of large banking organizations should not be considered in connection with an individual application, it is an important issue that could benefit from public discussion and feedback. It is possible that changes to the existing regulatory and supervisory framework could enhance the resolvability of large banking organizations. In considering any changes, however, it is important to consider possible costs and unintended consequences. For example, the ANPR solicits feedback on whether large banking organizations should be required to issue more long-term debt, which could be "bailed in" to improve resolvability. Increased reliance on long-term debt funding could adversely impact the cost and availability of credit. +> +>I look forward to reviewing public comments on the approaches discussed in the ANPR, including on the costs and benefits of these approaches. While I voted in favor of seeking public comment on the ANPR, this vote does not indicate my support for future rulemaking proposals. I will evaluate future proposals on their merits. +> +>*U.S. Bancorp Application*I support the Board's action to approve the U.S. Bancorp application, but I am concerned about several aspects of the approval. I am concerned that the commitment that could impose heightened prudential standards at a fixed date in the future is inconsistent with the Board's existing regulatory framework, which imposes tailored requirements based on clear, quantitative measures of the firm's underlying risk. +> +>The Board has tailored the application of its large banking organization regulatory requirements to match their respective risk profiles based on objective, quantitative thresholds of asset size, cross-jurisdictional activity, reliance on short-term wholesale funding, nonbank assets, and off-balance sheet exposure. As described in the order, both before and after consummation of the proposed transaction, U.S. Bancorp would be classified as "Category III" under the Board's regulations. This imposes specific requirements and expectations that are established by rule. Of course, the firm may grow beyond its Category III designation and therefore be subject to these heightened standards. +> +>Notwithstanding the clear category thresholds established through notice and comment rulemaking, the Board's order suggests that it may require the firm to comply with Category II standards by the end of 2024, regardless of whether the firm would be subject to these requirements by regulation. This determination does not appear to be driven by any specific concern about financial stability. If the Board believes that the firm should be subject to heightened prudential standards in the future to address financial stability concerns, the Board's rules and regulations provide a means to do so[1](https://www.federalreserve.gov/newsevents/pressreleases/bowman-statement-20221014.htm#fn1). + +[Statement by Governor Waller](https://www.federalreserve.gov/newsevents/pressreleases/waller-statement-20221014.htm) + +>While I support issuing an advance notice of proposed rulemaking to solicit public comment on the appropriateness of certain resolution-related requirements for large banks, that does not mean I support or oppose applying such requirements to those banks. **I look forward to reviewing the comments received.** +The Internal Revenue Service on Thursday unveiled the cost-of-living adjustments for pension plans and other retirement items for the 2019 tax year, including the first increase to the contribution limit for the Individual Retirement Arrangement in six years. The limit on annual contributions to an IRA has increased to $6,000 from $5,500 for the 2019 tax year, while the limit for employees who participate in 401(k), 403(b), most 457 plans, and the federal government's Thrift Savings Plan is increased from $18,500 to $19,000. + +https://www.marketwatch.com/story/ira-contribution-limit-lifted-for-the-first-time-in-six-years-2018-11-01?mod=bnbh +The scenario: an unauthorized user gains access to your account without your knowledge; perhaps they execute some trades which lead to losses. Perhaps they successfully wire money out. Are you protected? + +[Marketwatch](http://www.marketwatch.com/story/hacked-this-is-what-the-top-5-brokers-will-do-for-you-2015-10-27) did a survey on the subject last year, and five popular brokerages offer a guarantee against cyberattack related losses: + +* Charles Schwab +* Fidelity Investments +* E*Trade Financial +* Scottrade +* TD Ameritrade + +Some popular firms not mentioned by Marketwatch also offer a guarantee: + +* [Vanguard](https://personal.vanguard.com/us/help/SecurityOnlineFraudPledgeContent.jsp) + +There are, however, also notable exceptions: + +* Robinhood +* Interactive Brokers +* Capital One + +**Robinhood:** + +The [RHF Customer Agreement](https://d2ue93q3u507c2.cloudfront.net/assets/robinhood/legal/RHF%20Customer%20Agreement.pdf), in article 17, includes the following wording: + +"I agree that Indemnified Parties will have **no liability**, to Me or to third parties, or responsibility whatsoever for:(i) any Losses resulting from a cause over which Indemnified Parties do not have direct control, including but not limited to the failure of mechanical equipment, **unauthorized access**, theft, operator errors, government restrictions, force majeure (as defined in Section 15), Exchange rulings or suspension of trading;" + +**Interactive Brokers:** + +The [Interactive Brokers LLC Customer Agreement](https://gdcdyn.interactivebrokers.com/Universal/servlet/Registration.formSampleView?ad=us_customer_agreement.html), in article 3, includes the following wording: + +"3. Responsibility for Customer Orders/Trades: +Customer acknowledges that IB does not know whether someone entering orders with Customer's user name/password is Customer. Unless IB is notified and agrees, Customer will not allow anyone to access Customer's account. Customer is responsible for the confidentiality and use of Customer's user name/password and agrees to report any theft/loss of such user name/password, or any unauthorized access to Customer's account, immediately by telephone or electronically through the IB website. **Customer remains responsible for all transactions entered using Customer's user name/password.**" + +**Capital One:** + +The [Capital One Investment Account Agreement](https://www.capitaloneinvesting.com/main/online-investment-account-agreement.aspx), in article 23, includes the following wording: + +"23) Extraordinary Events You agree that Capital One Investing **will not be liable** to you or to third parties for losses incurred directly or indirectly by causes reasonably beyond its control, including but not limited to, government restrictions, natural disasters, severe weather conditions, wars, strikes, terrorist attacks, exchange or market rulings, interruptions of data processing services or communications, disruptions in orderly trading on any market or exchange, **unauthorized access** or operator errors." + +Neither agreement appears to include any additional clauses which specifically guarantee to make the customer whole in the event of their account being hacked. + + +So it seems neither Robinhood nor Interactive Brokers (nor Capital One, ...) feel like offering their customers any guarantees against hacking is necessary, and the customer will end up holding the bag if their account is compromised. + + +Is this indeed the case? Has anyone with accounts at these brokers reached out to them for a clarification on why they feel it's OK not to offer such a guarantee while their competition does? + + +Edit: Added Vanguard to the with-guarantee list. Thanks @[TheGoldFighter](https://www.reddit.com/r/investing/comments/5kn2qr/is_your_money_safe_from_hackers_at_interactive/dbpapc7/). +Added Capital One Investment Account to the no-guarantee list. Thanks @[ggWes](https://www.reddit.com/r/investing/comments/5kn2qr/is_your_money_safe_from_hackers_at_interactive/dbpbvi7/) and @[logicaltuvok](https://www.reddit.com/r/investing/comments/5kn2qr/is_your_money_safe_from_hackers_at_interactive/dbq3ekh/). +Some of you apes have been very helpful to me and I am just paying it forward - I hope this helps people with their IRAs. Also posting in that other sub, btw. + +**tl;dr** I was an original ape that used ALLY/APEX to DRS my Traditional IRA. I've been looking for two months to find a new custodian that isn't a broker who will register my GME within my IRA keeping the tax deferred status. [MAINSTAR TRUST](https://mainstartrust.com/) is a holding company, not a broker, that will do this. I have a Roth newly in CS with Mainstar as custodian and I am in process of changing custodian on my Apex held account. Mainstar is a small company and their website isn't much better than Computershare (though they do have 2FA!), but they got the job done. I can't say how speedy they are, so be forewarned if you are an impatient type. + +**I can only share my process and let you apes decide for yourself.** I wanted a path to DRS my IRA while keeping the tax deferred status. I'd rather my shares are out of brokers, where they are surely rehypothecated. This is not about avoiding taxes - I will pay plenty of tax when I take distributions from my IRA. It is about not having capital to pay that tax right now and I am not selling shares to cover it. + +Like many of you, I've waited since last Jan for MOASS - I am glad I did not disburse my IRA last year and be on the hook for taxes this year. I don't have a crystal ball to know when MOASS will happen. I also do not know exactly how these accounts will behave during MOASS - Selling via Mainstar might take several days or I may have to send an overnight letter with medallion stamp to CS to sell - I am willing to take that risk to have my shares out of the hands of hedgies and their counterparts. For me, MOASS is always tomorrow, until it is today. Stay zen, apes! + +**Who is Mainstar Trust?** They are a holding company located in the midwest (Kansas) that specializes in self-directed IRAs where people can hold non-traditional assets for retirement like real estate, HSAs, etc. They've been in business since 1978. They do hold securities, however, without direct registering them, they are held in a brokerage that Mainstar uses so that they are accessible for efficient trading on request. (Their clearing house in NOT apex) **If you request book entry shares, they will remove the shares from their broker/clearing house and register them with Computer share on your behalf. So they are only on the books of Mainstar, not any brokerage, so no brokerage lending or fuckery can take place.** + +Here is a rando list of other top-rated SD IRA custodians if you want to vet some others (per Wealth Advisors whoever the hell they are...this list was compiled in 2018 FWIW) + +https://preview.redd.it/t87559yaiwd81.png?width=284&format=png&auto=webp&s=3f5cfa074d5ee5df844c1181e3172d696c9e0039 + +**How did I do this? The short answer is:** + +**IRA to IRA transfer (non-tax/no penalty) from Vanguard as custodian to Mainstar as custodian. Requested to direct register (book entry) from Mainstar to Computershare. If you can't follow my chicken scratch, call them to walk you through the process - they are very helpful and nice. 1-800-521-9897** + +**Step One - I opened an account with Mainstar and then transferred my IRA**I went to [https://mainstartrust.com/](https://mainstartrust.com/)\-->forms-->Roth IRA and I downloaded the Complete Form Kit, but started with the Roth Application and the Transfer Direct Rollover Request (use the part for Transfer, not Rollover...). There are other forms I needed to sign, but once I sent in the application someone contacted me and helped me with the process via email and phone when I had questions. + +I was assigned an account number from Mainstar. It took several days to complete and get shares transferred from my broker. Mainstar has a primitive online portal - it is not instantaneous when shares are moved, etc. If your shares disappear from your broker, it'll probably still take a day (or more...) for them to populate online at Mainstar. However, you can call to check and if Mainstar sees the transfer in the system as arrived, you can start the next step. + +edited to add: There are fees...$115 annual per account. $25 to set up the account. Smaller fees to trade (not unlike Computershare, btw). Ask around, but I think these are some of the lowest fees for this kind of account. + +https://preview.redd.it/0rnejiehkwd81.png?width=397&format=png&auto=webp&s=37e8eb6b09ab0efc499a5fd3ac25a8738b9f5a22 + +**Step Two - requested DRS using DIVIDEND CHANGE REQUEST**I downloaded [this form](https://mainstartrust.com/upload/files/2019/09/dividend-change-requestpdf1569516702.pdf) to make the request to Computershare. Find this form on the main webpage, then Forms-->Optional forms-->[Dividend Change Request](https://mainstartrust.com/upload/files/2019/09/dividend-change-requestpdf1569516702.pdf) + +[EDITED TO ADD: The yellow highlight above is incorrect. Mainstar cannot add your SSN to the CS account. The CS account must be under their EIN to keep it tax deferred. They can add your name\/address for contact and statements.](https://preview.redd.it/5vglp24aowd81.png?width=513&format=png&auto=webp&s=8f8b75b3c7cbb90bb75d8426b93c4b4d1a89106b) + +**Step Three - Get my CS account number**Once the account at CS is set up, you should be able to find your account using your SSN, just like with other CS accounts. However, on this first account for me, Mainstar set it up with them as primary and I had to use the CS account number and Kansas zip code to locate the account and add a login. Mainstar is in process of adding me as primary and I am waiting for the snail mail letter with the account login verification code (which is going to kansas as Mainstar is the address on the account...but that will change). They should be putting me as primary for any other accounts. + +EDITED TO ADD: The above is incorrect (I am not sure how to striketrough text). Mainstar cannot associate the CS account with your SSN...they must use their EIN to keep the account tax deferred. Mainstar should get the account number via the DRS Advice and you can get it over the phone or/and they will mail you the statement. Then you can go to CS and register the account, but you have to locate it using the address and zipcode of Mainstar in Onaga, KS. Then you set up the login/password and CS will send a verification code to the address on file which should be Mainstar. Mainstar will forward that to you by snail mail. Yes, it takes a long time to get all the pieces in place. + +One difference - Mainstar does not zero out your share count in their portal - the shares will be listed in Mainstar and in CS. + +[Here is my Computershare DRS Statement for proof - shares are DTC Withdrawn](https://preview.redd.it/0r1q3675jwd81.png?width=655&format=png&auto=webp&s=d9f3bf5fe9944316b3eafeef25745b4ec092e42b) + +**What's next? Change Custodian for Apex account** + +Now that I am set up with both Traditional and IRA accounts and I know Mainstar can direct register with these other small test accounts, I have asked Mainstar to be the custodian of my Ally/Apex account that is DRS at CS. Since this is a Traditional IRA, I used [the Transfer Direct Rollover Request](https://mainstartrust.com/upload/files/2019/09/transfer-direct-rollover-requestpdf1569510971.pdf) \- it is still a transfer, not a rollover. No tax implications. + +\- INCLUDE A FAX number for your broker where the shares are coming from - otherwise mainstar has to snail mail your request. + +\- Check the box for RE-REGISTER - Mainstar will re-register the shares directly at CS - at least that is what they told me. If it comes back differently, I will report back. + +\- on page two (not shown here) - check FAX for delivery option. + +[Edited to add: as of 2\/23\/22 I am still waiting for shares from Ally. There have been delays and Mainstar could not pull the shares on their own. I had to basically request a pullback \(or un-DRS\) of my IRA shares from CS back to Ally. Then Mainstar requested the ACATs transfer from Ally. Once the shares are at MS, they will direct register to CS. An extra step, but worth knowing. I think the reason is because Ally effed up the initial DRS and put them under my SSN, so it was actually an individual account even though the name says Apex FBO winebutch. So, when Mainstar asked for the shares, Ally had to say, um, there are no GME shares in this account...reject request.](https://preview.redd.it/o3fdsxkltwd81.png?width=402&format=png&auto=webp&s=65e7752103b6c82fff095f86e5b6921843ec95ea) + +I hope this helps some of you apes that have IRAs and don't want to disburse the funds for a taxable event or penalties. + +**TL;DR It is possible to DRS an IRA with a NON-BROKER custodian to keep your account tax-deferred AND shares safe from lending. IRA to IRA transfer (non-tax/no penalty) from Vanguard (or another broker) as custodian to Mainstar as custodian. Request to direct register (book entry) from Mainstar to Computershare. If you can't follow my chicken scratch, call them to walk you through the process or just see what they are all about yourself - they are very helpful and nice. 1-800-521-9897 -** [**https://mainstartrust.com/**](https://mainstartrust.com/) **- Not financial advice!!** + +edited to add: There are fees...$115 annual per account. $25 to set up the account. Smaller fees to trade (not unlike Computershare, btw). Ask around, but I think these are some of the lowest fees for this kind of account. + +**Edited to add: A Note on Selling - NOT FINANCIAL ADVICE** + +I know this is a taboo topic, but apes need to know the process in order to make an informed decision. Selling is not a straightforward 'click a bitton, shares are sold' kind of thing. As far as I can tell, there are actually two options that I know of for selling and both are multiple steps. As far as I know, both of these actions are considered "account activity" and not a distribution or taxable event. Check with your financial advisor or tax person. + +1. I request a sale, Mainstar un-DRSes the shares and moves them to their broker and sells. The money goes directly back into my IRA account at Mainstar upon the sale. Timeframe quoted is 7-10 days...it takes time to get the shares back from Computershare. +2. I request a sale and ask Mainstar to sell directly from Computershare. The sell is a shorter time frame, but MS still has to mail the Letter of Instruction by snail mail so it will still take at least a day or more to get a sell order to CS. Once Computershare executes, they will send a check to Mainstar and that will then be deposited into my IRA. I don't know how long that will take. Mainstar thinks it could take many days for a check to arrive from CS. I am in process of verifying the potential timeframe with CS. + 1. Here is what Mainstar emailed to me when I asked about direct sell from CS:"Should you choose this route (direct sell), we will need our Sale Authorization form and in the Special Instructions section, please note that you wish for us to submit the request directly to Computershare. We will need the address where Computershare needs the request submitted as we have several addresses for them." + +&#x200B; +This weekend I’ve seen several topics about how retail should put pressure against gme about this whole situation. (see vote counts, Crime, naked shorting etc.) + +DONT fall for it, why should i go up against the company that im investead in for the long run? Alot of the shill comments states that they are only in it for the moass and by that argument they want us all to focus on that and, as stated, put more pressure on gme. + +This post might not even be needed but i firmly believe in lifting up and beeing transparent about the weekly shilling strategies is a good thing, especially for new apes. + +Back to buying, hodling and drsing this week for me. + +Have a wounderul upcoming week. + +Edit: +I am not saying beeing in for the MOASS is the wrong reasonat all. Im saying that they target these apes that are here only for the moass with the argument that cohen doesnt do shit etc and keep spewing on him, on gme, in a really really profanity/bad way to divide and conquer. +The Boys - ($BOY) coin is the new token, the crypto world really needed, - and now THE BOYS NEED YOU! 🚀 + +After seeing bloody red in the market the last couple of days, all due media FUD and people in power like Elon Musk, pushing us down the mountain, the boys said it’s time to take over their own currency, with no links to the market. After all, it is us driving all these coins. + +After seeing what the boys did to GameStop, and DOGE, there now comes a time where we take over what belongs to us. 🪖 + +If we are the people, and the we have the power, why should institutions fuck our gains like that? + +Let the boomers have Bitcoin and ETH, we don’t care. We want our own token, which is fair for everybody. No whales, no institutions, no Elon Musk, - only the boys. 😈 + +There is no stronger comradeship than the boys. If we are summoned, we go crazy. You might see us once in a while, when we raid other coins groups. It’s so much fun 💦❤️ + +We have extremely crazy marketing coming, with multiple celebs, and we also got Johnny Sins supporting us! + +If you know crypto, you know this is the next 1000x project. + +Our community also derived from one of the best crypto groups out there. Just ask a fellow community member. + +Ownership will be renounced right after adding liquidity, LP will be burned, contract is verified, no large wallets and small number of holders. Could you ask for much more if you’re looking for a moonshot token? You can find all this info in our telegram group. + +TOKENOMICS🍆 + +The total supply will only be 100,000,000 Tokens, meaning we can reach 1$ per token at 100 mil market cap. + +10% fee, 5% to the liquidity pool, and 5% to the holders! + +Remember to do your diligence, and DYOR. NFA. + +JOIN THE COMMUNITY: https://t.me/theboyscoin + +Contract: +0x7B3B08e0B4519380bAA0e329D67d023ea33eA7fE + +BscScan: 💙 +https://bscscan.com/token/0x7B3B08e0B4519380bAA0e329D67d023ea33eA7fE + +Buy? On Pancakeswap 🥞 +https://exchange.pancakeswap.finance/#/swap?outputCurrency=0x7B3B08e0B4519380bAA0e329D67d023ea33eA7fE + +Website: 👨🏻‍💻 +Theboyscoin.com + +The community have already contributed more than 30,000$ in two minutes to marketing funds and the liquidity pool, which will have 100+ BNB added. 💰💰💰 + +No presale, no bullsht! There was an airdrop, but we will fair launch! We also have an anti bot system, so we can smoothly launch! + +Either you’re one of us, or one of them. Choose wisely. 😈 +Germany is not far from recession, growth in the EU is weak and China is slowing down. I have to say that I'm pessimistic and don't really understand the joyfulness shared on this sub. + + +[https://www.bloomberg.com/news/articles/2019-01-31/italy-falls-into-recession-as-output-shrank-more-than-forecast](https://www.bloomberg.com/news/articles/2019-01-31/italy-falls-into-recession-as-output-shrank-more-than-forecast) +Here's the [WSJ story](http://www.wsj.com/articles/snapchat-parent-working-on-ipo-that-could-value-company-at-25-billion-or-more-sources-1475778314) with the following figures: + +|Snapchat|2015A|2016E|2017E| +|:---|:---:|:---:|:---:| +|Revenue | $60m | $250-350m | ~$1bn | + +## GOOG + +So what did Google look like in it's early years? + +|Google|1999A|2000A|2001A|2002A|2003A|2004A|2005A| +|:---|:---:|:---:|:---:|:---:|:---:|:---:|:---:| +|Revenue | $0m | $19m | $86m | $440m | $1,466m|$3,189m | $6,139m| + +The IPO was in August 2004. It was values at $23bn in the IPO. + +## FB + +Next let's look at Facebook, whose IPO was in May 2012 valuing the business at $81bn + +|Facebook|2009A|2010A|2011A|2012A|2013A| +|:---|:---:|:---:|:---:|:---:|:---:| +|Revenue | $777m | $1,974m | $3,711m | $5,089m | $7,872m| + +## Well? + +Both Facebook and Google were profitable at the time of their IPOs and they had shown an acceleration in their revenue growth. This got them 5 to 10x next year's forecast revenue, and 7 to 16x current year's forecast revenue. + +For me the key is proof that the topline in accelerating. Google's top line accelerated every year until the great recession. Facebook's stopped immediately after the IPO, crashing the stock, until the topline started ramping again in 2013. + +## A Rocket or Rock? + +If Snapchat's sales follow this path, then a $25bn will be a steal. If not, it'll be another Twitter. + +|Snapchat|2015A|2016E|2017E|2018E|2019E|2020E| +|:---|:---:|:---:|:---:|:---:|:---:|:---:| +|Revenue | $60m | $300m | $1bn |$2bn |$3.5bn |$6bn | + + + + +## EDIT: + +If you're curious on the stats for Twitter, it IPOed in Nov 2013. It's sales had been accelerating. The business was valued at $14bn, i.e. 10x the forecast year's sales. + +|Twitter|2010A|2011A|2012A|2013A|2014A|2015A| +|:---|:---:|:---:|:---:|:---:|:---:|:---:| +|Revenue | $28m | $106m | $317m | $665m | $1,403m|$2,218m| + +And for 2014, things were fine with sales more than doubling. Sadly it was 2015 that the growth slowed. + [https://www.federalregister.gov/public-inspection/2021-05993/self-regulatory-organizations-proposed-rule-changes-national-securities-clearing-corp](https://www.federalregister.gov/public-inspection/2021-05993/self-regulatory-organizations-proposed-rule-changes-national-securities-clearing-corp) + +New DTCC rule can go live starting tomorrow. Allows **daily** calculations on how leveraged a member is and then request supplemental liquidity deposit. previous rule was only calculating at options end; Allowing for long term synthetic shorts using options trading. +It’s more media FUD in the vein of ‘appear strong when you’re weak, weak when you’re strong’. Except in this case they’re trying to make outsiders perceive one of GME’s greatest strengths as a weakness. + +How on earth could it be a bad thing to have a huge dedicated core group of investors who will never stop buying shares, never stop buying products from the company, and never stop supporting that company in various other ways like diamond handing shares, positive word of mouth, aligning with Cohen’s vision in voting initiatives, generating ideas for avenues of growth, and so much more. + +Grassroots, word of mouth advertising is the gold standard. Every company hopes they can take their brand to a place where their loyal customers do the advertising for them. Not only is it free, it’s also more powerful. Any good advertiser will tell you that when people hear about a product or service from friends or family members it’s worth a lot more than hearing about it from traditional advertising sources. + +One of the big reasons GME is becoming a powerhouse is because of us, the shareholders. We’re holding it down and giving management the time and space to enact the turnaround. + +Any publicly traded company in the world would be over the moon at having the investor base GME has. The shills say we have a short attention span and will lose interest. Well, most of us have been in this play for over 16 months and are more passionate about GME now than we were when we began. + +When doing fundamental analysis on GME it would be idiotic to keep the loyal, diamond handed, ever growing investor base out of the equation. + +Not only are the shills discounting it, they actually have the balls to spin it as a knock against GameStop. 🤣 +[SPY Total Return vs \\"The Wheel\\"](https://preview.redd.it/pcaqbcfv3mq51.png?width=600&format=png&auto=webp&s=20d8fcc0c11af48bb203fedcf120d3ef4fcd03e6) + +Due to popular request by the folks in r/thetagang, [a formal study of "The Wheel" is now live.](https://spintwig.com/spy-wheel-45-dte-cash-secured-options-backtest/#Results) + +Follow the link to: + +* see P/L curves binned by exit mechanic +* review charts and tables highlighting various performance metrics such as max drawdown, total P/L, Sharpe ratio, total return, etc. +* take an "under the hood" dive that looks into the strategies that experienced the greatest (5D hold-till-expiration) and least (50D early mgmt) total return +* learn how the wheel strat is materially influenced by timing luck + +Takeaways / TLDR: + +* All strategies except 30D early mgmt and 50D early mgmt were profitable +* 30D hold-till-expiration had the greatest risk-adjusted return among the wheel strats +* No wheel strat outperformed buy/hold SPY with regard to total return +* No wheel strat outperformed buy/hold SPY with regard to risk-adjusted return +* One of the strategies - 50D early mgmt - went negative despite wheeling being "safe" +I got a medical bill of $1350 after insurance for an ankle surgery (I already paid $1000 pre-op). I simply emailed the billing department asking if I can get any discount on my bill and 5 minutes later I got reply for a 20% discount. + +For a couple minutes of my time I was able to save $270. The lesson is always negotiate even if your insurance is taking care of most of the bill. Every dollar counts and never afraid to ask. + +Update: I took some advice from the replies and went through the bill itemization. I Googled the surgery codes and find out one had to do with surgery on the hand. I had surgery on my ankle so I called the doctor's office and found out that they charged me for an extra procedure "by accident." + +ALWAYS DOUBLE CHECK YOUR BILL, NEVER TRUST THE HOSPITAL TO GET IT RIGHT! +WSB isn't funny anymore. Simple as that. This place used to be the best place but its lame as shit now. If you disagree then that means you've only been here a short time. + +Anyone I talk to that joined this sub years back won't even revisit it. + +It's the same stupid comments every fucking post. + +"Stonks only go up" + +"My wife's bf this or that" (when its likely 99% of you are single) + +"Priced in" + +"Printer bullshit" + +SHUT THE FUCK UP. If you're laughing at these jokes then you're either actually retarded, or you're new. + +I miss when I would actually laugh at some these posts. Sort by all time and you'll laugh your ass off. Sort by new and you'll want to leave ASAP. +I run a small LTD company and keep a rough spreadsheet that helps calculate a profit figure, it’s quite basic - and I’ve just realised it’s £2.16 out, obviously this might have happened over minor errors around a few transactions… + +If this spreadsheet for personal use only, then would it matter in terms of an accountant calculating my corporation tax return? + +I assumed if an accountant came in they would work with my bank statements for costs and my online statements containing my business sales for turnover… + +So would it not matter if my personal spreadsheet is a couple of quid out? +With all the waves being made in the US markets just now I didn't really want my little boat in those waters so I placed a sell order on all my funds yesterday around 9am. Thought I was being sensible and avoiding the fall and could buy back in when it went down but nah too slow.. Order is still pending and it has dropped as I thought. + +Does is usually take over a day for a sell order to be submitted or am I misunderstanding? + +Thanks + +Edit; Thank you to those who answered my question and those who offered constructive criticism. I appreciate the advice. Not so much the salty downvotes +I'm thinking of moving back in with parents to manage costs and they have a four acre field attached to their house that I am thinking could be put to use with my savings. They have just been letting a local farmer graze their sheep there for free for the past several years. + +I'm wondering how I could invest some money in it to put it to better use. For a campsite (or agricultural buildings - which may lead to conversion to residential down the line) it appears you need at least 5 hectares (~12 acres) of agricultural land without planning permission. I could look at getting planning permission for a house / holiday cottage, but there's guarantee that would be approved and just money down the drain. I've also thought of building polytunnels and growing plenty of veg to combat spiralling cost of foods, but this is a fairly low return on effort put in. + +Any other ideas on how this could be a financially sensible side hustle / growth of my investment portfolio? TIA! +I'm really interested in a lot that is way over priced. The lot has been on and off the market for 6 years. About a month ago I made what I thought was a fair offer( but still way off asking) that the seller rejected and said they would only accept full price. I wasn't interested so I moved on. + +Less than a week later I noticed the lot was relisted after being taken off the market and was reduced about 8% (still over priced). After some back and forth the seller said he would accept about another 8% off the new price (still over priced but I liked the lot enough to consider it). + +While I was considering apparently someone offered full price I guess without realizing why the lot was over priced. After less than a week the other buyer backed out once the realized it was over priced. So I then offer the price the seller said they would accept and they declined saying they think they can get a full price offer since they got a full price (even though the other buyer very quickly backed out). + +I have my doubts anyone will buy this lot at the asking price. How much time should I wait before I should offer again. I'm not hurry so I can wait as long as needed. +Hey all! + +I was putting together some FI-tracking data from my financial spreadsheets and I managed to whip up a neat little network tracking graph for myself. I figured maybe some of y'all would like to look at it and perhaps offer some advice on our path. + +We're a married DINK couple in our 30s. We own two houses (in the process of selling one), and have roughly a $250k annual income (give or take). We've maintained about a 65% savings rate and have a FIRE target of about $2.5M total net worth. If we can keep up this savings rate, I'm hoping to hit that amount in 7-8 years. + +We discovered FI around the time I created this account (mid-2014). Around then, our combined networth was probably about $50k. I don't have all the details to show exactly what it was back then (I didn't start tracking for real until 2015). My own personal networth didn't become positive until mid-2013. My spouse's was never negative (parents paid for college), but wasn't worth tracking until around 2015. + +[Networth Graph](https://imgur.com/a/j7Zl7MN) + + + Date Amount + 1/2015: $121,304 + 4/2015: $143,510 + 7/2015: $155,709 + 10/2015: $198,452 + 1/2016: $222,350 + 4/2016: $279,176 + 7/2016: $299,423 + 10/2016: $338,249 + 1/2017: $383,923 + 4/2017: $446,700 + 7/2017: $487,897 + 10/2017: $548,782 + 1/2018: $618,180 + 4/2018: $680,313 + Today: $721,199 + + + +They're weren't kidding. I used to just brush it off as jealous people who missed the boat, but this year has really exposed just how fake all of this capital in the crypto space really is/was. 2 egotistical assholes have cost us all billions of dollars in losses. + +I'm sure some projects will recover, but Do Kwan and SBF have just completely decimated the market and eroded the trust of the entire space. + +Crypto.com, now FTX, huge names in the space, are all but dead. FTX has been on the Umpires uniforms of every MLB game for thr better part of 2 years, now they're insolvent? How do you even pitch crypto as a solid investment to anyone now? + +It hard to even see the upside of blockchain anymore, why do we need it for most applications? The safety of your investments is nil, this claim of "decentralization" has been completely exposed as false with the exception of a few, and in most applications it's completely unnecessary. $BTC might really be the only one we need. +I see posts saying stuff like cancelling Netflix isn't going to help you, or not ordering that $5 coffee isn't going to help you, but it can. + +Saving $10/month on Netflix is $120/year + +$5 a day for coffee every weekday is 100 a month, or $1200 a year. + +**Of course, it's no good to just live life without any enjoyment. I'm not saying to not get Netflix or not to get that coffee. But sometimes you have to consider what's important at the moment**. + +A lot of poor people already understand this. But I'll still see comments being like saving and keeping track of what you spend can't and won't help you. But it can. + +**Again, I'm not saying to not get the things you enjoy, it's a dull world if you're only ever responsible with your money. But sometimes you do need to consider what's more important at the moment. For instance, I have Netflix, but there were months when I had to cancel it because other things were more important at that time.** + +I saved up spare change for a year or close to a year. I ended up getting $52 back from the bank when I exchanged it. Which might not seem like a lot, but hey, $52 is $52, not a crazy amount of money, but still, something there. To help with groceries, putting gas in the tank, eating out or doing something fun with it. +Now recent forms have been highlighted by people on the sub to confirm RC was in fact labeled as an insider since March. Bankruptcy, in my outlook, has fallen to an unlikely scenario. This is due, well, insiders who trade on non-public in house knowledge is illegal. And insiders who sell before bankruptcy is announced often end up in jail. And even white collar jail sucks... Even though it's common for insiders to buy stock just before bankruptcy, it's very uncommon for them to sell. Especially someone like RC who has so much at stake with other ventures. + +https://dealbreaker.com/.amp/2013/07/a-lot-of-company-insiders-buy-stock-right-before-filing-for-bankruptcy + +On a separate note, I believe RCs sale was a wombo combo from many fronts. Not only did he have to sell if he was going to acquire BABY like other people have suggested. +But RC selling on the day we go on regSHO is lethal for short hedge funds due to it being an SHARE RECALL. I speculate that RC was loaning out his stares since he bought it as a honeypot trap. Not only did they fail 3.1million shares the day we went on RegSHO, they now have to locate apx 10million shares from RC and 5 million from Jake the Snake. + +As Michael Burry said in 2020 when he sold, it was a logistical nightmare recalling his shares when he sold. It took over a month. +I know that we are already in a recession or about to be one as so many places note. I imagine as the economy gets worse that we would want to: + +Reduce careless spending +Pay off debt as fast as possible +Continue investing in 401k or Roth IRA to maybe the max if you can afford it + +Is there anything else you should be doing (if you can afford to do it) as we face possibly another few years of an economic downturn? +29m I work in mechanical trades, not long ago I was working along side a ~60yoM my casual picking of his brain for information and advice he would give to himself at my age and he told me to always have 2 years worth of wages liquid and that is what got him through every up, down and crisis through life. He worked 14 hour days 7 days a week for 5 years before taking a single day off which was to purchase his first apartment in Singapore then over the course of his life hes bought several more, 8 townhouses in Melbourne and 5 here where we live in Perth 4 of which hes purchased for his children to have a leg up in the world where he had none. + +Currently has well into 7 figures in cash... and his base wage around 90k + overtime and he still rocks 6am to 6pm, 6 days a week. Personally I would've stepped back and tried to live a little bit more but hes content with what hes doing hes a really nice bloke and stereotypical asian dad, made me a little more grateful for my situation being that I only had to do 12 hour days 6 days a week for 2 years to get into my first place but also highlighting the fact that my emergency fund is too low however circumstances are right now it is what it is and making every effort to help myself now and future me. +Hi All, + +On April 2nd at 4pm AEDT we will be hosting an AMA with [BetaShares](https://www.betashares.com.au/). + +We will have [David Nathanson (Founder, Managing Director) and Ilan Israelstam (Founder, Head of Strategy)](https://www.betashares.com.au/about-us/our-team/) joining us for an hour or so to answer all your questions on ETFs, Ethical Investing, BetaShares' inverse products, and much more. + +We will open the AMA in the morning of April 2nd so feel free to check in during the day to submit your questions. + +Thanks in advance to BetaShares! +I have around 6k in emergency fund and I’m planning to move into a shared room with all the bills (internet, water, electricity) covered (around $145 per week). I’m still a full time student atm but I’ve got a restaurant job earning me $130/week, but I have another interview lined up for a full time position. I also want to know what other expenses I’ve got to take care of, eg. how much do I have to pay per year to have my car, how much in phone bills and any other expenses of that kind. + +My mum has been a pretty toxic person and she would force me to move out at any little thing that aggravates her about me. Last night I told her I was going to wakeup at 5:00am to prepare for my internship and she got mad because she wanted to sleep till 6am and was forcing me to move out. 🙃 +My partner and I inspected this house in Feb 2019, which sold at auction for $1.285m. It has just been relisted for auction yesterday and the agent is giving a guide of around $1.55m which is a \~20% increase in just over 19 months ([https://www.domain.com.au/10-the-appian-way-avalon-beach-nsw-2107-2016572153](https://www.domain.com.au/10-the-appian-way-avalon-beach-nsw-2107-2016572153)). + +No real changes to the property in that time other than very minor renovations, including painting the outside of the house, and a few basic appliances (rangehood, oven, dishwasher) in the kitchen. + +This is actually getting to the point of being unbelievable. How is this kind of appreciation sensible? + +In my opinion the irreversible change made by painting the outside and covering the original building fabric (red brick) actually removes value but obviously others will see it differently. +I am blissful and numb. I have two trees in my yard right now. One just a normal maple with green leaves, the other a red maple with red leaves. They're both nice to look at. + + I've become completely numb to all articles from Kitco, Yahoo, and Forbes. I frankly don't give a shit what anyone has to say anymore about the chain but the chains own proven results. I have complete faith that I can park money and help this network and eventually it will both bennifit the world and pay off as an investment. + +Tldr, I've learned to stop giving any shits, sit back and enjoy the hodling of holdings. Live life. Just hope these words help others to stop worrying and sit back as well. + +Have a great June all! +Please use this thread to have discussions which you don't feel warrant a new post to the sub. While the Rules for posting questions on the basics of personal finance/investing topics are relaxed a little bit here, the rules against memes/spam/self-promotion/excessive rudeness/politics still apply! + +Have a look at the [FAQ](https://www.reddit.com/r/financialindependence/wiki/faq) for this subreddit before posting to see if your question is frequently asked. + +Since this post does tend to get busy, consider sorting the comments by "new" (instead of "best" or "top") to see the newest posts. +For all the apes dealing with choosing between healthy food and cheaper food. You are not alone. + +For all the apes who have become experts at finding things on sale and only buying on sale. You are not alone. + +To those who just got engaged, getting ready to get married or got married with the weight of the financial stress it brings. You are not alone. + +Everyone who has had surprise medical or dental needs that have set you back or just bummed you out. You are not alone. + +To all the ones who have college debt that makes it financially hard to move forward. You are not alone. + +For those who have chosen a work - life balance for a paycut just for your sanity at a pay cut check. You are not alone. + +For all those who have zero choice but to be literal wage slaves because it's the difference between a roof or a street. You are not alone. + +Everyone who cannot afford access to the things that make it easier to stay healthy physically and emotionally. You are not alone. + +To everyone who is a parent, supports their family or has pets and struggles with the added hours with no pay increase. You are not alone. + +For all that cannot afford to have pets, let alone kids or a house. You are not alone. + +And lastly. + +For every ape that buys and holds. Whom Zen is their state of being. And the army of DRS shares. + +You are not alone. +The MSM articles yesterday talked about why GME is going down. If you didn’t notice the entire market basically moved in unison. For these articles to be written specifically about GME “apes” and retail selling and moving on, well you know for sure that just isn’t true as I said the whole market mimicked itself. For the newer apes, this is what creates the zen. They are desperate for you to sell. 💎 🙌 🚀 +Throwaway because I'm mortified with myself. I always prided myself on my job because I genuinely do love helping people with their finances. I work out of a branch of a pretty well known firm and I get to help people with their self-managed brokerage accounts and retirement accounts. Today I got completely thrown off guard by a client of mine when his wife joined us on the phone for the first time ever. + +Me and her husband were having our normal small talk, chattering about how the market is up positive for the year wiping out the year's losses so far and then we got down to their portfolio review. OUT OF NOWHERE this woman stars drilling me with my credentials, where I went to school, and was asking me all kinds of questions I didn't know the answers to. I didn't study finance, I actually studied history but I took on finance and got my licenses after college. I'm in my 30s and have been an advisor for 2 years. She started asking me about the futures market and admittedly I don't know anything about that. Then she was asking me about derivatives and swap defaults. I have no idea what those are. Then she goes on about sustainable investing, and I told her that sustainable investing is a trendy topic at the moment but we still like to focus on the fundamentals. She completely tore me apart saying I know nothing about managing money and she completely halted our conversation and ended the call. + +I'm sitting here thinking WOW, am I complete idiot?! I understand I should know better the different nuances of investing but to be honest all of my clients are pretty straightforward with pretty generic retirement goals and not all that savvy. This woman made me feel like a complete imposter. + +EDIT: WOW!!! I seriously did not expect this to blow up the way that it did. I really appreciate everyone's advice and I'm actually shocked that I'm not getting ripped apart. I really needed to hear the words of encouragement. Honestly yesterday was hell for me after this phone meeting and I have no idea why that woman got to me so hard but she did. I am reading through all the comments and trying to respond to everyone as much as I can. I'm going to take this as a learning experience and going to work on stepping my game up. While I won't be an expert at everything, I do feel that I could have done a better job over the last 2 years in educating myself in the areas outside of what I particularly work in on a regular basis. I never want to be blindsighted like that again. What hurts me the most is the fact that I think I could've lost trust with a client, which means more to me than how smart I appear to be. I take pride in my job and helping people with their finances. THANK YOU EVERYONE. All this feedback and advice (and even some tough love) means a lot and it's really helping me push through as cheesy as it sounds. +Let me preface by saying that I believe Buy Hodl DRS is the way and if anyone wants to interpret what I say as otherwise that will be on the reader, not on me. + +I believe as the Federal Reserve began printing its currency faster and faster after 2008 that it had increasing motivation to suppress the prices of stocks, commodities, crypto, etc. I think as the Fed expanded the dollar supply, the DTCC had to expand the share supply (in everything) to match. Otherwise the whole market would have squeezed a long time ago. Every chart would be a parabolic curve up which would have more to say about the dollar than any given stock. It would have been a give away that the dollar is worthless. + +On February 24, 2021 we had the biggest post-sneeze run up in GME to date. It ran from \~$48 to \~$200 that afternoon. At the exact same time the Federal Reserve was experience technical difficulties specifically with its Fedwire service. It's pretty hard to find this story now but here's a link from February 25, 2021 + +[https://edition.cnn.com/2021/02/24/business/federal-reserve-outage-fedwire/index.html](https://edition.cnn.com/2021/02/24/business/federal-reserve-outage-fedwire/index.html) + +These two events occurred at the exact same time on the same day, and that's too much for me to dismiss as coincidence. + +I believe the Fed's printing press is part of a system that is shorting EVERYTHING and especially shorting GME. Maybe they are doing it themselves or maybe they have a bunch of dumb stormtroopers out in front of them and the Fed is backing them. If I am correct then that could mean that the system that is shorting GME has infinite collateral and can't be margin called and it has infinite resources to pay interest on short positions. + +That said, I believe it is false to say the Fed can print money forever. Eventually they would print too much and their currency would lose its value; no one would be able to afford to use it anymore. Call it hyperinflation if you like. Once a certain threshold is crossed, the dollar, and the Fed become irrelevant. The Fed won't go there if it has other options. + +I believe if the system shorting GME is backed by the Fed, the idea of synthetic shares might be overblown. I do believe in synthetic shares but perhaps the same effect could be achieved by accelerating the velocity by which shares are bought, loaned and sold short by using the Fed's backing. I think it can be both synthetic shares and the Fed's backing but as the amount of shorting necessary to hold prices down increases (probably exponentially), excessive synthetics create an exploitable Achilles Heel that the infinite printing press does not. + +However, if it's the printing press that's holding prices down we are in strange times, indeed. Consider RC's August 10 tweet: "if we print a few trillion more, it should bring inflation down". I believe RC is using sarcasm to point out the obvious: You can't inflate a currency to achieve lower prices. But I think he was talking about the Fed printing money to hold prices down (especially the price of GME) in markets. Another RC tweet, this from February 9, 2022, is brought to mind: " Who will be the piñata for all this inflation?" If the system shorting GME is connected to the printing press then it is stuffed with cash right now. Eventually it will break open like a piñata. + +I believe the market crash we have all been waiting for could be a crash UP and it will actually be the crash of the dollar. Eventually (perhaps very soon), we will see GME's price rocket up to absurd heights and when it does I think we could flip GME's chart upside down and we would be looking at the chart of the dollar. That's why, personally, I won't be selling anything I have for any amount of dollars. No matter the prices I see, if measured in dollars then I will consider that a "fake squeeze". I'm not holding for dollars; I'm hodling beyond. + +Finally, I'm going to turn my title on its head and say that I do NOT believe the Federal Reserve is the final boss. The Fed is a corporation, just like GME, and just like GME, somebody owns it. Somebody is the Beneficiary. I would like to know who. +Dear Options expert aka r/thetagang + +I sold a 10 NIO put option when it was trading at $40 for a $9 expiring 17 Jun 22. Then it fell off the cliff and now deeeeeep ITM with a $22k loss. + +I have bought 10 NIO put option at $17.5 expiring 17 Jun 22 for some protection. + +I have no idea on what to do or recover from here. + +Can you please advise. And how would you navigate this situation. + +Thanks in advance. + + +EDIT: Sold $40 puts for $9 credit and Bought $17.5 puts for $2. Both are 10 quantity and expiring 17 Jun 2022. +Edit. Got my answer. Randomly assigned. Thanks all! + +Newbie on Covered calls. Let's say I buy underlying and sell call - 18 month LEAP. Is there literally an identified person that owns that call with me permanently linked as opposite party, until they decide to sell option when it becomes another person, and if either one of them or their successor call owners decides I can be assigned? + +Or is it perhaps a pool system where all us shorts of that exp/strike option are pooled, and the long holder who assigns is just pointed at a random short person to assign to, perhaps by the clearing organization? + +Just seems if its the first, the risk of early assignment is low since they are probably paying 10% cost of underlying for 18 month atm call. Whereas if its the latter, that random person may have bought call long ago and underlying may have risen a lot, so they may be anxious to assign, and I could get unlucky quickly? +Rolling loosing credit or debit spreads seem common place. But everywhere I look regarding managing loosing Iron Condors they say to roll the untested side closer to the tested side. When do you, if ever, roll a the breached side of an Iron Condor? + +(backstory, I'm doing the best I can but have gotten into a very bad place with AMZN after their earnings and my ICs expire 8/20 and 9/17) +I personally feel the market as a whole is way over valued and I want to protect myself against a correction, but I don't want to miss out on gains in case one never comes. I want to get your input on the strategy I've been implementing and find out if there are things I can optimize. I will use this week's specific example. + +Example: + +I bought 100 shares of ARKK @ 128 + +I sold 3/19 133C for $150 + +I bought 4/16 100P for $100 + +My plan is to continue to sell weekly calls against my shares while having the protective put in place in case of a correction. Once the put expires I will re-evaluate and determine if I need to continue or change strategies. + +So each week there are one of three things that can happen. + +1) Price goes past my short call strike, shares get called away, I pocket premium plus growth from 128 to 133 for a gain of approximately $650. I can re-enter with a new covered call if I choose to do so. + +2) Price stays between my long put strike and my short call strike, I pocket premium for the short call and can sell a new short call. + +3) Strike falls below my long put strike, I pocket premium for the short call, I can exercise my long put for a loss of 2750 (2800 +100 premium for long put -150 premium for short call) + +So this strategy basically limits my exposure to $2750 if I'm understanding everything correctly. I just wanted to get feedback from some of you who have been doing this longer than I have. +Hello all, so I entered my first ever credit spread today on Tesla for an 8/14 expiration. I sold a 1635 strike put for $29.70 and bought a 1620 strike put for $22.45. I know that my maximum gain potential is $29.7-$22..45=$7.25x100= $725 and my maximum loss potential is (($1635-$1620) x100)-$725= $775. My break-even is around $1629, collateral $1500 cash. + +Question: Let's say Tesla ends the day at $1621 for example, that would mean the option I sold gets exercised and the option I bought does not. What happens in this case since the $1620 strike will become worthless by end of day? + +I do not want to exercise these, I don't have the funds for that. If I lose my $775 then I understand that being the risk I took. What I'm scared of is say it closing at $1621 and I end up losing thousands. To avoid this should I "close" my spread tomorrow at open? I saw at closing today I could have closed the spread for $895 which is more than I would have paid for it and this confuses me. Sorry if this sounds dumb, it probably is. + +Edit: You guys honestly rock and have taken so much stress off my back. Even if I end up losing money on buying to close, that is my option tuition and I’m glad you were all able to educate me. This sub is awesome. + +Edit2: Just sold for a $205 gain. This stock is ridiculous, shoots up down and around. I’m glad to be out of there. Thank you all! +So I’ve come up with a strategy. Sell 0 DTE iron condors on SPX with a 50 point spread priced at ~10 delta and close around either 40%-50% profit or let it expire if it’s still OTM or it just hasn’t reached 40%-50% profit. I also close the trade if it becomes about $3 away from being ITM. I enter the trades around 9:45 and usually close them around 12:00. So far I’ve only had one trade go awry and I lost $0.70 and I taken 17 trades in total. My question is if there’s something I’m missing? I already understand that technically I’m risking $5000 per contract but SPX doesn’t move fast enough that my trade would become ITM before I close it. + +Edit: my biggest concerns are taxes and fees. I also use E*Trade so I’m worried about GFVs. +But it did happen once. + +This is for those who put their life savings in margin trading, too sure that their cryptocurrency won't drop to a certain price. + +If greed can push $6,000 to $60,000, then fear can sure push it back down from $60,000 to $6,000. + +Think about it. Don't risk your life savings or your house in something that you have zero control of. For the past few days, we are hearing the accounts of people committing suicides, and the largest account liquidated a few days ago is $64M. Whales get wiped out clean too, just so you know. +I read so many posts about people jumping right into trading/day trading and lose big very quickly and feel it could have been avoided or at least minimized. The feeling of having money on account and ready to trade can be very tempting and thoughts of the money you are missing races through your head. FOMO kicks in. Regardless of the hype, there is no perfect trading strategy or silver bullet for investing, it's about finding your style and comfort level. Instead of asking for the answer look for the right questions to ask. Do your homework, do your backtesting, hit it hard. The market dynamics change minute-by-minute so you don't want to be in a constant cycle of asking what to do. Setup a paper trading account and once you can trust your instincts with play money you can confidently step into the arena of live trade. Good luck, it's BRUTAL out there. +The censorship is really surprising https://www.reddit.com/r/Bitcoin/comments/3rtrdu/utheymos_threatening_to_ban_the_biggest_business/ + +I think Roger Ver would be a much better mod for the main sub-reddit. If we can change the subscriber numbers, then things will move over. + +I've unsubscribed from /r/bitcoin (currently 175,599 subscribers) and subscribed to /r/btc (currently 2,077 subscribers). +With the info about the autopilot crash, I would have thought the stock would have dropped alot. It dropped pre market, but now getting back up there. I sold 2 days ago. And was hoping to get back in. But its not dropping!!!!! Why would this be? +For example, if you want to buy 1 share of Lindt & Sprungli you'll need USD 6,000, +Swiss National Bank USD 4,000, Seaboard Corp USD 4,500 and of course Google / Amazon USD 1K. + +Is that not prohibitive to investors? What's the advantage? Paying something like 6,000 for 1 share seems off-putting for the average investor, from a psychological standpoint. + +Yes I know brk.a is 250k, but doesn't matter since brk.b is available. +Today is my last day of employment, and I'm packing it in. 42 and ~1.25M in assets. If need be, I have a valuable skillset and multiple companies that want me, and I can command well into six figures, but I'm not materialistic and doubt there'll be the need. + +Please let me know whether I should or should not go fuck myself. +Thanks to you guys, I was able to afford a decent tomb stone for my son born prematurely. I have since then made back about half of what I spent. Sometimes I think my friends misunderstand me as materialistic, but wealth creation is a key to freedom in this world. I was able to provide my son with something worthy of his name that I would not have been able to do without considerable stress otherwise. Today I just found out I'm getting a 10% raise at my job and more raises are coming soon. This means more money to play pennies with and more money to invest in dividend stocks. +Boys, Girls, Apes & Apettes... + +I've been psychologically fucked since january due to our beloved GME. The ups and downs has been something like i've never seen before (donald trump voice), the sheer amount of manipulation, injustice, series of events, hope, etc.. it's a lot to take in. + +I do believe we're in End Game now. The level of energy since last night has not been seen since the beginning of this saga. + +**I would just like to remind the apes that despite we can smell the tendies and start feeling light as if we're exiting gravity, this would be the time for shorts to do something fucking insane to kill morale.** + +I'm seeing a lot of posts as if we've already won... Apes, we've now entered the real battle. + +Don't rejoice until those tendies are sitting in your account, it'll save you psychological & emotional fuckery. + +Trust me, i thought i was immune to it after the first time around in January, until it happens again. + +We've got them by the balls... Love you all, it's been a pleasure to experience all of this with the most solid community in history. + +**TO THE FUCKING MOON.** +What did the markets do, what did you do? Did stop losses even matter, did the prices plummet after hours? Did it change how you invest? I only have two anecdotes. I know a guy who lost his daughter's college/future fund. It was around 100k. He was devastated and said he'd never invest again. Then my father, who was in mutual funds. The crash didn't hurt him much, which was as he'd planned, but he figured his colleagues who were in stocks would probably recover in time, and they probably did. There were probably not nearly as many retail investors then as now, so may have been harder to go cash. +I’m relatively new to options and a friend asked me to explain it to them in terms of bananas 🍌 Sharing here for some constructive criticism. Thank you in advance. + +Say a banana costs $10. You like bananas and believe in the future people will pay more for their bananas. You’d like to buy 100 bananas and hold them for a certain amount of time but you don’t have $1,000. So instead you talk to your local banana broker who says for $1.70 premium per banana they will give you the “option” to buy 100 bananas from them at $10. He says this option is called a “call” You both agree and set a expiration date, say January 22nd 2022. Meaning anytime between now and then you can force the banana broker to sell you 100 bananas at $10 even if everyone else is paying more per banana. + +Since you have to pay your premium upfront you give the banana broker $1.70 x 100 = $170 and head home, banana less, but happy you saved $830 but received the leveraged upside of owning 100 bananas. + +That night you try to fall asleep but your mind starts racing with “what ifs.” What if I’m wrong and the price of bananas goes down? Everybody loves avocados now anyway. Will I lose all my money? Are my loses leveraged 100x too! No no no, you relax knowing you can only lose the $170 you gave the banana broker. Nothing else. What if it goes up a little... to say $11 by next Jan 2022. Am I rich? You think it over and in that case you’d buy 100 bananas at $10 and instantly sell them for $11 each! $10 x 100 = $1,000 | $11 x 100 = $1,100 | $1,100 - $1,000 leaves you with $100!! Wahoo you’re pumped but then remember you paid the banana broker $170... so you actually lost $70. Damn. You notice your “break even price” must be $10 + $1.70 = $11.70. You fall asleep hoping bananas 🚀 to the 🌚 + +A month later you wake up. You check the banana prices and see people spending $16 for a banana!!! If you “exercised” your option today you could buy 100 bananas for $1,000 and instantly sell them for $1,600. Giving you $600 - $170 = $430 profit for your trouble. + +You get to the banana broker and notice others want the option to buy 100 bananas at $10 by Jan 2022 too. The premium is no longer $1.70 per banana though. It has risen to $8 per banana. You run the numbers and realise; although you can make $430 by exercising your option, someone else would pay you the premium of $8 per banana to take your option off your hands. $8 x 100 = $800 - $170 = $630. That’s $200 more than the $430. So you sell the option without ever exercising and pocket $630. + +While walking home you think. What if I was rich a could have just bought 100 bananas at $10 back in the day. You would have spent $1,000 and a month later been able to sell for $1,600. Netting you $600 but requiring you to bring 1000 / 170= 5.8 times more money to the table at the beginning of the transaction. Next time you think I’ll bring $850 to the table and buy 5 options at $1.7 premium. Then I’ll net $8 x 500 = $4000 - $850 = $3,150. Now that’s bananas 🍌 + +Edit 1: I’m bad a math. + +Edit 2: thank you u/whiskeycharliepapa for your comment. Volume and demand is important and plays huge role in the premium price. Additionally I wrote this in a extremely positive way and I neglected to focus on the whole “what if the price of bananas goes sideways for a year” probable outcome. In that case you’d lose the premium and be left with nothing. If you had bought the bananas you’d have no lose of capital. +100% of the top 50 coins are in the green in the past 3 months + +98% of the top 200 coins are in the green in the past 3 months + +A blindfolded monkey could have made the returns you made in this market. Moral of the story: Don’t think you are an invincible investor and that your investments will stay green forever. Do your research and have a plan (exit strategy, HODL, etc.) it will come in handy WHEN the next bear market comes. +Theres many predictions that companies may shift towards work from home even when pandemic ends, and that traditional office jobs may go away. Ive heard two arguments: + +Having employees work from home lowers operating expense on not having to lease out large office buildings. + +Also have had it counter argued that many office managers are old dinosaurs who resist change and will bring people back regardless, or that many people want to get out of the house and wont be pushed to want to work from home. + +Obviously, if people go back to the office, then theres always a market and a real estate fun will be a valuable part of the portfolio. If work from home is the norm that market will not do so hot. + +&#x200B; + +Whats your prediction? Traditionally ive been told have a little in the portfolio but worried on this one. +I've been looking at some airline stocks and they all took a major hit and havent recovered a lot yet while the rest of the stockmarket is going ballistic. In the Netherlands the government is handing out a cash to help KLM stay alive in these time under the narrative "They can't fail, because it would hurt the economy too much". Not sure, but I can imagine other countries wanting to keep their national airline alive. I don't know a lot about airlines and their financials or other possible important factors, what do you guys think? +Each day I go through the top rising and falling stocks today, and look for (a) what the company actually does, and (b) why the stock is moving so much. Hopefully this saves you some digging! + +Below are my notes from 7 November 2018 as of mid-morning. (This list is limited to companies with market cap >$100 million, and also excludes VIX, short ETFs, etc, as these just reflect the market, rather than individual companies.) + +Today|Company|About|Driving the stock +--:|:--|:--|:-- ++23% | [Victory Capital Holdings (VCTR)](https://bravos.co/VCTR) | Asset management company | Acquiring USAA Asset Management ++21% | [Genomic Health (GHDX)](https://bravos.co/GHDX) | Genetic research, specifically cancer detection | Revenue/earnings beat ++21% | [Twilio (TWLO)](https://bravos.co/TWLO) | Telecom (send SMS by API) | Revenue/earnings beat ++21% | [SendGrid (SEND)](https://bravos.co/SEND) | Email delivery | Soaring in-line with TWLO (which will buy SEND in an all-stock deal) ++20% | [Etsy (ETSY)](https://bravos.co/ETSY) | Ecommerce marketplace for handmade goods | Revenue/earnings beat + +Today|Company|About|Driving the stock +--:|:--|:--|:-- +-35% | [MiMex (MDXG)](https://bravos.co/MDXG) | Pharma company | Received de-listing notice from NASDAQ +-30% | [Infinera (INFN)](https://bravos.co/INFN) | Telecom equipment | Revenue/earnings miss +-26% | [Diplomat Pharmacy (DPLO)](https://bravos.co/DPLO) | Specialty pharmacy | Revenue/earnings miss +-26% | [Audentes Therapeutics (BOLD)](https://bravos.co/BOLD) | Drug developer | Revenue/earnings miss +-24% | [BWX Technologies (BWXT)](https://bravos.co/BWXT) | Nuclear fuel company | Revenue/earnings miss +If you're extremely broke and can't afford a car, get a cheap motorcycle! You get a reliable form of transportation and a safe one if you know how to use it! They're extremely efficient, and have about half of the parts that can fail of a full-sized car. The only drawback is how little it can hold, but if you're living as frugally as possible, you probably won't need to carry around more than it can hold, and even if you do need to make 2 trips, the gas won't kill you. Best of Wishes! +Was at the library the other day for daughters rhyme time and thought I may as well get out a few books. Thought I'd share some thoughts and would be happy to get some recommendations on other books: + + +* Age Pension Made Simple - Trish Power (2017) + +Simplified text on how the age pension works and when you qualify for a full or part pension. Printed April 2017 so it's fairly up to date with the latest changes, took me a day to read. While, hopefully, I never require the age pension I think it's useful to know what is available and the rules about it. My father will probably require it so now I can plan how to maximise his income retirement income. + +* Superannuation Made Simple - Noel Whittaker (2017) + +Simplified text on how superannuation works and all the rules and taxes associated with it, took me like 5 hours to read. Prior to this book I had no idea how good superannuation was, I had no idea the tax benefits were large. The author is financial adviser (or something related) and has many 'case studies' or examples in his book of people (some possible fictitious) and how a small change to personal circumstance can make a big difference to outcome. Made me realise that one ideal plan isn't the best for everybody and we should have an individualised plan for our own financial future. + +* Guide to Investing Successfully - Michael Yardney (2016) + +The author is BIG into property investing and is not a big fan of the share market. His basic investing idea is finding long-term, high-growth suburbs and using leverage to buy in. Wait for the property to grow and then leverage against that property and buy again. He recommends 'top down' searching for growth areas (state -> suburb -> street -> house) and recommends town houses in inner city suburbs. He doesn't recommend selling at any point due to capital gains tax and has a novel pension plan (getting a loan against the value of properties each year, which will be less than the capitals gains of the properties over a year. Makes sense if you read it). + +Overall, I don't know how much of the advise I would end up using buy he certainly made a convincing argument for property. + +* Funding Your Retirement - Max Newnham (2011) + +Haven't actually finished this book yet but really enjoying it so far. The first chapter is a bit of history, to put things in perspective. The second is how to plan (assets, how you want to retire, how much you need). The third is overview of super and age pension (little out of date but not too bad, just an overview) and the fourth chapter is an overview about tax, before and after retirement. From there he goes into strategies on how to invest and managing risk and such. + +As I said haven't finished it yet but so far I would have been happy to just read this book. + +Just thought I would share some thoughts. If anyone has any other book recommendations to get from the library please let me know. +Cheers. + +EDIT Also read: + +* Barefoot Investor - Scott Pape + +This book is written for people who are very bad with money. This is written more like a self-help book than a financial advice book. Unless you are just starting out and are poor with money I would read something else. Having said that the advice isn't terrible and your mileage may vary. +My mother passed away very suddenly a little while ago. She was the one who controlled all the finances, made the share investments, etc. She was a loyal follower of Scott Pape - and one of his recommendation is an 'In Case of Emergency' document. + +Thank God my mum did this because it allowed us access to the various bank accounts, share portfolios, etc. It made the whole 'sorting out' process so, so much easier than it could have been. + +My Dad is a guy who is brilliant at a number of things. But investing, computers and finance are completely foreign. + +Luckily he has some kids with a keen interest in this kind of thing. He would have been stuffed otherwise. + +Of course this has made me reflect on my own situation. My wife has almost zero interest in finances. + +It has made me appreciate the benefits of a simple portfolio. I am not doing dividend reinvestments, which will make CGT simpler in the future. I am not involved in any ETFs which require a W-8BEN form. (In case it gets forgotten if i was not around.) I will keep the investments to a handful of broad ETFs. + +Not everyone will have the need to keep things so simple, i know. But i think it will work for our situation. + +This is in no way bagging my wife. The reality is that she simply has no interest in the matter - so the easier it is, the better it will be if i got struck by a meteorite tomorrow. + +Anyway i know that a simple portfolio is not a new concept. But perhaps this is another reason which some of you may not have considered. + +Just something to think about. Death can seem so far away when you are in your 30's - until it whacks you in the face like this. Sorting out affairs is a massive pain. + +P.s - I reckon an ICE document in a very safe place is a bloody good idea. If you got hit by a bus, how would your family start to sort out your affairs? +My mother passed away very suddenly a little while ago. She was the one who controlled all the finances, made the share investments, etc. She was a loyal follower of Scott Pape - and one of his recommendation is an 'In Case of Emergency' document. + +Thank God my mum did this because it allowed us access to the various bank accounts, share portfolios, etc. It made the whole 'sorting out' process so, so much easier than it could have been. + +My Dad is a guy who is brilliant at a number of things. But investing, computers and finance are completely foreign. + +Luckily he has some kids with a keen interest in this kind of thing. He would have been stuffed otherwise. + +Of course this has made me reflect on my own situation. My wife has almost zero interest in finances. + +It has made me appreciate the benefits of a simple portfolio. I am not doing dividend reinvestments, which will make CGT simpler in the future. I am not involved in any ETFs which require a W-8BEN form. (In case it gets forgotten if i was not around.) I will keep the investments to a handful of broad ETFs. + +Not everyone will have the need to keep things so simple, i know. But i think it will work for our situation. + +This is in no way bagging my wife. The reality is that she simply has no interest in the matter - so the easier it is, the better it will be if i got struck by a meteorite tomorrow. + +Anyway i know that a simple portfolio is not a new concept. But perhaps this is another reason which some of you may not have considered. + +Just something to think about. Death can seem so far away when you are in your 30's - until it whacks you in the face like this. Sorting out affairs is a massive pain. + +P.s - I reckon an ICE document in a very safe place is a bloody good idea. If you got hit by a bus, how would your family start to sort out your affairs? +Ok, maybe I am still stuck on last week’s news where the [Hindenburg nikola report](https://hindenburgresearch.com/nikola/) showed some pretty damning evidence and the otherwise outspoken CEO could not provide a strong rebuttal against those claims this morning . This is clearly a fraud and the stocks really haven’t been hit in the way I thought they would have. Why is this? + +Sharing for additional insight: https://youtu.be/znIZznswGTs +I dont talk about crypto to any friends that i know dont have crpyto. Because if I lose money people that I know IRL will start to make fun of me. If I become rich, it's easy to getting targeted and I'm sure some of my friends will want to borrow money from me. + +Overall, I think its best to keep mouth shut in real life and chat as much shit as you need to on reddit as a anonymous person. +As the title says I recently started making payments on a 2015 Kia Optima, owed almost 15k on it. The other driver was found at fault but I don't have collision coverage so they are saying the max they can give me is 10k. I talked to my insurance and my auto loan company and they both made me feel like their insurance would cover the rest of what I owed, is their anything I can do to get more from their insurance? +Hello all, I have this very unique situation and looking for some opinions please ! +32, NW ~4m$, 2 of which is stuck in some illiquid startup investment that might IPO within 2 years. Rest liquid stuff. +I work in a quite high pressure job in finance, making high 6 fig +I have lots of random projects/interests that i want to explore and never have time to do. +I had a job offer for low 7-fig with potential to potentially grow to like 2-3m/year if i succeed but still very high pressure if not more. +My firm countered with something really unexpected, they matched the compensation, and would allow me to work from a different city and only 4 days a week, would also allow me to create a company or side hustle if i want. +Basically i would sort of slow down career-wise, no real potential for 2-3m$ roles, but much more sustainable and still very high pay(basically high 6 low 1m) that doesn’t prevent FatFire and would probably offer some smoother transition of next 3-4 years. +I sort of have this ambitious and “always try to be the best personality” but i also know i want to ultimately get out of the rat race. + +So my question is : did any of you “transition out” of your stressful job/business/career instead of working 100% until you reach your goal then leave. + +And how did it playout / did you enjoy it or felt weird and like out of place and missing out on the bigger better thing ? +Throwaway; a couple years ago I hated my corporate job and followed my passion. My husband was ok with it and fully supportive even if it meant I wouldn’t make much. With a small personal investment and a major sacrifice, my business dream came to fruition. + + I opened a dress business; which quickly grew into an e-commerce business that has grown tremendously fast. My personal compensation is 10% of the monthly revenue, which right now is anywhere from 40k-70k a month. It’s been life changing for my husband and I. + +I absolutely love what I do. I love my job and I love the industry. In fact, I look at dresses all day in my down time. You could call it a hobby that makes me money and takes up most of my day. + +Whilst I’m happy - I feel like right now so much of the business truly runs my life - rather than the other way around. I lack the boundaries when to stop and lately I am wanting more ‘lifestyle’ - where I work less or can dawdle around. I recently had a baby and want to kick back a little more and delegate to others. + + I recently felt slightly envious of a friend on maternity leave who had zero responsibilities for 2 months (she has a normal corporate job) +I would love to have just a solid week of not having to run things - but I then remind myself I make a very high income that not many others do; and this is the reality of my lifestyle choice as a business owner. + +I currently have 7 employees and could do with a few more; and I’m working on offloading some more responsibilities. + +For those of you who have grown your business in such a manner; how did you step back or manage to achieve the ‘lifestyle’ where you feel like the business doesn’t run your life? +I'm trying to figure out if it's possible for us to FAT Fire with 2-3 kids (have 1 currently) in a HCOL area where our joint income ranges from $200k-$500k per year, but very inconsistently. We are not moving out of HCOL area and we don't want to decrease our expenses dramatically, so I'm just trying to figure out if it is possible to FAT fire or if I should instead focus on finding a more fulfilling, likely lower-paid career and just work FT until 70... + +We are married but generally keep separate finances. At the moment, he makes 90k a year 1099 (flexible hours consulting for a nonprofit) and I make between $170k and $450k depending on bonus/stock etc. I'm conservative so I plan my budget around the $170k salary and save full bonus/RSU. Thus, I'm considering our sustainable household income to be $250k. + +We rent a 1br for $2550/month and have no debt. Would like to buy a house for $1.7M. There is an option to co-purchase a home with his mother as she has a substantial amount of cash sitting but doesn't own property currently and needs to leave her current housing in next 1-5 years. I'm not sure I want to do that as I don't like the idea of commingling our finances even if she wants to give my husband an early inheritance. My objective would be to buy a $1.7M-$1.9M home on our own in next 0-3 years. + +**My networth details/history:** +2007 - $28,000 (age 23) +2008 - $15,000 +2009 - $32,000 +2010 - $88,596 +2011 - $145,149 +2012 - $204,842 +2013 - $250,419 +2014 - $310,117 +2015 - $355,427 +2016 - $416,583 +2017 - $551,332 +2018 - $625,746 +*2019 - $850,000 so far (age 35)* +2020 - aiming to hit $1M this year + +**Husband's Networth (Current)** + +2019 - approx $150k + +**Total Family Networth Current: \~$1M** + +Husband wants to go back to school to become a high school teacher which at least would give us good benefits and a pension. The benefits would be hugely helpful as my jobs tend to be high paid but short lived and there are periods where I am not working (also due to some mental health issues.) + +**Major Upcoming Expenses (in current prices)** + +\- $1.7M-$1.9M 3br/2ba house in HCOL area +\- $60k - husband's teaching credential at top school +\- $50k - embryo freezing & IVF +\- $300k-$450k - savings for 2-3 children's 4 years at public university +\- $100k - weddings? +\- $90k ($15k x 6) - assuming 6 cars for rest of life total, 3 each, 1 \~every 15 years + +**Budget (Current, Family - \~$8k-$9k/mo)** + +Rent - $2550 (buying a house would increase this to $8k / mo) +Financial - $1400 (CFP, insurance, etc) +Food - $1400 +Kid Stuff - $400 +Bills - $300 +Shopping - $1000 +Gifts - $150 +Home - $300 (buying a house would increase this TBD) +Personal Care - $250 +Health - $200 +Entertainment - $300 +Travel - $300 +Let’s say you make $100k. Most would say if cost of living goes up 7%, than one would need $7k to breakeven. Is this really the case though? + +For example if that person only spends 50% of earning, is living costs are only $50k. Of this $50k half might be fixed mortgage rates which won’t go up with inflation. So then you have maybe $25k of goods exposed to varying inflation impacts. 7% of $25k is around $2k of inflation costs. Which needs only 2% lift to cover on a $100k base (tax impacts set aside). + +Now there are suppose investment impacts to the other 50%. Higher rates may lower returns on stocks… but also might greatly increase liquid cash returns. + +Thoughts? Are we thinking of merit increases wrong when blending cost of living increase percentages across our entire compensation base? +Since crypto winter is here and I'm still waiting for quality post I figured why not uno-reverse a question from today? + +I have been told that one thing you should always do in investing, is to look for reasons not to invest in something. + +The best argument for me is that it is too complicated for mass adoption. One mistake and your coins/tokens are gone. I know that's no issue for a lot of people, but it is an issue for mass adoption imo. + +Since I'm an idiot and can't come up with something better, I ask you, what might be the best argument against crypto? +There has been a ton of discussion about the standstill agreement over the past year and how that has been handcuffing RC. Now once it’s expired, it has been argued that RC will be free to ride in on a white horse, start telling everyone off including the SEC and the hedge funds and buy up all the shares of GME that he can. + +That is not realistic and does not make sense if you were RC. I know you want a MOASS trigger, but if you were RC, you wouldn’t either. More importantly, it will be a good thing for the approach to continue as it has - the progress that has been made and the future that is unfolding is phenomenal. + +Gag Order + +“RC can’t say anything because of the gag order in the standstill”. Not true, the restrictions in the standstill all relate to voting powers, control of voting shares and colluding with other voters. Not only that, but it goes against what Ryan Cohen himself said! They will be playing this tight to their chest. Judge us by our actions and not our words (or lack thereof). + +Acquiring More Shares + +First off, it’s important to note that the restriction is that RC can’t acquire more than 19.9% of the company. Had he wanted to, he could have already purchased more to get to the 19.9% stake or closer to it. He didn’t. + +Due to his role as chairman of the Board, RC has knowledge of material nonpublic information and as a result cannot trade his securities until such information is made public or no longer material. Otherwise he would be in violation of insider trading laws. This is why public companies have blackout periods where their employees can’t trade shares. Given how GME hasn’t press released much but we know a lot is in the works, until all material information is made public (whether in a quarterly report or press releases or otherwise), RC won’t be buying more shares. + +Liability + +It’s easy to accept that, in the event of a MOASS, retail investors will be blamed for their greed that caused the fall of the financial system as you know it. The thing is, retail investors is a single person or group that can be specifically vilified. If you choose, you will be able to continue to walk in anonymity following MOASS and you won’t get in legal trouble for simply selling your shares at the then accepted price (even if it’s in the millions, because it’s a marketplace and if you’re a willing seller to a willing buyer, that’s fine). + +What happens if RC starts a roadshow to attack the hedge funds that shorted GME? What happens if he buys a bunch of shares and that triggers the squeeze? Now you have a single pain point that regulators, lawmakers, competitors and institutions/banks/hedge funds can go after as the cause of a financial crisis. + +Now ask why you need the standstill lifting to mean something? + +Patience is tough. Especially in a situation like this. For me, I’ve purchased GME on the basis of an investment thesis that focuses on the future of the company led by a visionary who has demonstrated success if focusing on customer first and the team that he put together. And the shorts haven’t closed. Neither of those have changed, so I’m zen to have RC, MF and team continue to move towards revolutionizing their industry. + +TL; DR I don’t think the expiry of the standstill period will make any difference to how RC, the board and GME management is conducting business. For me, I expect the expiry to come and go with no change whatsoever. And that’s a good thing. + +Buy, hold, DRS. If you know how to trade options properly and have the financial capability to do so, then you do you boo. NFA +I was thinking about not posting this because I know a lot of people are struggling this year & I don’t want to seem boastful but fuck it I really don’t know what to do with this money. I’ve gotten really lucky with my business this year and I’ve never seen money like this before, I really don’t want to waste it & I’d really appreciate any advice you can give me on what to do with it? +My fellow Apes, let's be reasonable. + +A bunch of weak "DD" on a glitch meaning Citadel get margin called and everyone goes ape. Even Dave from the AMA yesterday, the pro, when asked about it said "Guys, it's obviously a glitch they happen all the time." + +I just went through a bunch of NYSE listed stocks and they ALL show that missing volume for the 5-6 minute period at the same time. That screams "Server Reboot" to me, not "Margin Call". + +The negative volume? That screams end-day data dump to brokerages where the numbers didn't line up because the server reboot caused volume data issues. So the brokerage reporting systems tried to line up the data automatically causing a huge "negative volume" that had to get manually fixed. + +Let's also remember that Citadel Securities is NOT Citadel Advisors. Citadel Advisors would get margin called, not the market maker. When it feels like a whole bunch of messages are being pushed that you really want to hear but make no sense, it sounds like a way to hype you up then disappoint you at the end of the day ... to cause uncertainty. What the hell is that called again? + +Oh, right. FUD! + +I mean, let's not tighten the straps on those tinfoil hats too tight there Apes, you're brains need some oxygen. + +Edit: Here's the trouble shooting report for yesterdays glitch [https://www.ctaplan.com/alerts#110000353886](https://www.ctaplan.com/alerts#110000353886) + +Looked up this system, it controls trades and quotes. It also communicates with 9 market makers using multi-cast networking which can be dangerous. Multicast is a fire and forget protocol, it doesn't care if anyone gets the message. So if something glitches and isn't listening, but you don't know that and keep firing messages at it ... stuff gets lost. +My wife noticed on her Experian report that a student loan from 1996 has appeared on her credit report and is now reporting as current for Feb and Mar. She believes she satisfied all Student loans over 15 years ago. She did not reactivate this loan and did not make a payment in Feb and Mar. No idea how the loan reactivated or how to prove after 25 years that this loan was satisfied. The reporting party is US Dept. of Education ECS. Should she contact them or dispute with Experian? How do you prove a debt was satisfied so long ago? How could this loan be reported as "Current" for the last 2 months, when she has no idea this loan existed and did not make any payments on it in over 15 years? +Last year, I asked you all for [advice on reducing my retirement investments so I could improve our backyard](https://www.reddit.com/r/financialindependence/comments/h95fha/have_any_of_you_taken_a_year_off_saving_for/). Well, I took your advice, built all the stuff we wanted, and have just closed out that program of work. + +**Edit::** The mods asked me to remove the link to my personal blog with the story of all the work and the pictures. Per their recommendation, though, [I have put the pictures up on Imgur](https://imgur.com/gallery/8ToyDl8). **/edit** + +First off, shout-out to /u/reltubjp, /u/Grey_Duck-, and /u/Askew123 who recommended refinancing our house to pull cash out of the equity for this work. The timing was right and I was able to reduce our interest rate, switch from a 30-year to a 15-year mortgage, and our home value had shot up so the cash we got out covered about 45% of the work. + +Thanks to /u/willywonka1971, /u/Doro-Hoa, /u/booostedd, /u/Shortsonfire79, and /u/Ginfly who introduced me to the world of /r/churning and credit card bonuses. For the big projects, I had to write a check, but I was able to use credit cards for a good amount and the bonuses and rewards covered about 2.6% of the total cost (about $1500). + +And for everyone who just generally supported reducing retirement investments, thank you! It ended up being the best decision in the end, especially because I didn't have to reduce that much. I dropped my 401k investment to my company match amount for 5 months, but then with covid stimulus checks, a good end-of-year bonus, holiday gifts, a nice tax refund (we had a second kid in 2020 and that jumped our tax refund WAY up because suddenly he got some covid stimulus money on top of the child tax credit), we not only did all the work that we wanted to do, but starting in January 2021 I was able to actually start maxing out my 401k for the first time ever *and* we maxed out my IRA *and* I started a spousal IRA for my wife and maxed out both 2020 and 2021 for her. So not only did we get to build all of our outdoor improvements, we also *increased* our retirement savings. + +It wasn't all roses and sunshine, unfortunately. We had some other expenses along the way (as homeowners do), so our sinking funds are gone at this point. I don't have a dedicated salary-replacement "emergency fund" and instead have budget categories in YNAB for thinks like home repair, auto maintenance, health, etc. We went about 15% over budget once everything was said and done, and that money had to be taken from those sinking funds. + +But I wrote the last check last week and we're done-done. I expect it'll be December 2022 before our cash-on-hand is back where I'm comfortable with it. In the meantime, we'll continue maxing out our retirement. I've learned some more about FIRE since I wrote 13 months ago and I'm a bit more uncertain about when I'll be able to FIRE because who knows what the market will do over the next 15-20 years? With my 401k and our IRAs, it looks like we're on track for me to RE around the age of 50, which is the same year I'll pay off our house after the refinance. But I expect to start contributing around $10k/year to a taxable brokerage beginning in 2023 or 2024 once our cash savings is built back up, so that'd be ~12 years of additional investing by the age of 50. At the very least, I should hit FI before 50 even if I don't retire early. + +And between now and then, our family and friends get to enjoy our new backyard, which is spectacular. I'm so very glad I did this, and can't believe how good the timing was. Even with the increased cost of lumber, being able to dedicate the covid checks plus our tax refund to the work really pushed us over the hump. + +If anyone else is wondering whether or not to invest their money into something other than retirement, my recommendation now is: + +* Check out [this thread](https://www.reddit.com/r/financialindependence/comments/nufs4d/can_i_afford_this_large_oneoff_purchase/) by /u/monodactyl. I wondered recently if I could afford an electric car, and using the charts they provided I realized that the opportunity cost is 2x the actual cost of the vehicle. I don't want to work another 2.5 years just to have an electric car now. +* Determine if the money will be spent on something that significantly increases your quality of life. For me, a car wouldn't because I don't drive much. But we now spend hours a day in our backyard and our kids love it. We have already hosted two large get-togethers (with friends who are vaccinated) and it was great. Our backyard will continue to be enjoyed for the rest of our lives, so reducing retirement investments temporarily is a great trade-off. + +So thanks to everyone for responding and providing me guidance last year. I couldn't be happier with the outcome. +Apple is currently on day two of its WorldWide Development Conference. + +They’ve announced some relatively significant changes to the iPhone and had a really successful year in 2020, blowing their projections out of the water. + +What should we expect for this stock over the next year? Financially, Apple has had an incredible year but the stock price has been pretty stagnant since the stock split. + +What gives? +Seriously, + + +I unsubbed months ago because of all the brain-dead reposting. Yeah yeah yeah you just like the stock, shorts r fuk, delight customers blah blah... I got it the first 100 times. Every now and then I drop in to see what's new and most of the time it's nothing. Just another re-post of a Tweet, DRS, a dead meme format or some other shit. + +Or worse off, people here will find an interesting lead and just make a post to ask someone else to look in to it for them. Holy fuck. + +That's exactly why I know you mf'ers are going to hold. Ain't no way people who put that little effort in to their posts will pass up an opportunity to make a lot of money. You were made for holding - literally just holding and doing nothing. I'm 100% sure that people here will refuse to sell even at ATH because selling would take more effort. Y'all refuse to look at YouTubers/Twitter clout chasers pumping other stocks because that means monitoring more than one stock and that's too much effort. + +In a way, it's annoying. In another way, there's no way something like this can ever be successful without a community this fuckin' stubborn. + +Never change, SuperStonk. +It will be called The greatest transfer of wealth, but not just any transfer of wealth. It’s not concentrated like what happens with the lottery. It’s not inherited or skewed toward one demographic over another. One could argue that people on reddit may fit a certain “type”, but we are talking about millions of people. Not just in the US too, all over the world. It’s an absolutely beautiful random and maybe somewhat stratified sample of people that will be given insurmountable amounts of money, and you may not understand what that could mean, so let’s start with some examples. + +I am bipolar. Mental health is something that hits close to home for me. It’s something I care about and want to make a change towards. But I am just one ape out of millions. The odds of other bipolaroids being apes are pretty high given how many of us there are. And that goes for other world issues as well. Some of us are probably diabetic and have been fucked by big pharma and insulin prices. I’m sure if you were given millions of dollars you may be inclined to bring change to that certain issue you care about that hits so close to home. Many of us care about the environment, green energy, equal education, poverty, hunger, stock market transparency. The list goes on. You see, we are a perfect sample for the problems of the world that the top 1% don’t see, that they are oblivious to, that they don’t understand. That they could so easily help bring change to but don’t. The lower class, middle class, the millennials, the gen x’ers, and hopefully some Gen Z’ers in here, even some boomers. + +I’ve always had this thought experiment in my mind about how if you had 1 billion dollars to give out, how would you disperse it in order to bring about the most change in the world? If you split it up between too few people, you run the risk of someone being greedy and not helping others. If you split it between too many people, then their buying power is small and then your level of change to each person is very small. So how would you do it? Would you give 1 billion people a dollar or 1 million people 1000 dollars? Probably not, as 1000 dollars can only do so much, maybe provide rent for a month or groceries for a couple months. How bout 1000 people 1 million dollars? There’s a balance. A balance that hasn’t been in the world for too long. We are the avatar, mastering the 4 elements and bringing balance to this fucked up word ruled by the fire nation. And that is all I have to say. + +As for closing remarks, I hold for my fellow bipolar apes. For the ones that can’t afford their therapy or medication. To the 60% that have attempted suicide and the 20% that didn’t make it. Apes strong together. Diamond fucking hands. +Predicted By Blockchain VC, Pomp: https://twitter.com/APompliano/status/967777520690089984 + +We love discussing predictions like this in the Crypto Forecasts Facebook Group, Join Us: https://www.facebook.com/groups/271976249992012/ +If you've been watching what is happening with cryptokitties, it's not simply getting transaction volume, there is a huge amount of speculation and "trading" going on. Yesterday I believe gen 0 virgin kitties were in the 0.1 ETH range. Today they're selling for 1 ETH. + +How much have you made? +What are your "trading" strategies. +How many kitties do you own, what types and why? +Good evening fellow apes! u/joshualeeman posted something tonight that discussed all of us coming from different backgrounds. Well, I’m a huge advocate of apes helping apes and would love to offer help/advice to anyone that needs it. I am a union electrician and now superintendent. I have been in the trade since I was 18 which was 15 years ago. Please feel free to hit me up with any and all electrical questions/concerns you may have. I’ll do my best to give good advice or at least find the information you need. Save this somewhere for the future too…would love to save you a few bucks that could have been another DRSd share. Not advocating someone that is unqualified to do their own electrical work but want to provide information and knowledge. Please continue to buy, DRS, and HODL!!!🦍🚀🚀🦍 +Bitcoin is, and yes I know it's been repeated several times, here to stay. Forget about the market for a while, and recall the value of the technology. +For those who want to see if their business qualifies for JK beyond September 2020 + +[https://treasury.gov.au/sites/default/files/2020-07/Fact\_sheet-JobKeeper\_Payment\_extension.pdf](https://treasury.gov.au/sites/default/files/2020-07/Fact_sheet-JobKeeper_Payment_extension.pdf) +**TLDR; CMC seems opaque about its FX charges and evasive when asked. They don’t have USD currency accounts, and trading between US stocks results in a 1.2% fee. (ie 2 x 0.6% exchange rate spread, one for the sale of the first US stock with funds converting back to AUD, then another for the purchase of the next US stock, converting back to USD). You'll also be charged $100 per US holding when you discover this and need to move to another platform.** + +Hey guys, I’m fairly new to investment, having primarily invested in myself and my own businesses in the past. I’m the kind of guy who researches the crap out of everything when I decide to do something, so I definitely don’t jump in blind and do my best to make sure I know what I’m doing. + +In the process of getting into stock market investments, I spent over a month of dedicated research on various platforms, ETFs, strategies etc. You should see my spreadsheet, where I’ve been analysing dozens of ETFs, analysing full market histories of ASX and S&P500 etc. + +Anyway, I got a chunk of equity out of the home to invest, and deposited it into CMC markets. I chose CMC after analysing numerous platforms, going with them mainly due to the ability to invest in mFunds on the ASX. There’s a particular mFund that I like and this was the easiest way to invest and also keep all my holdings in the same platform. + +However, despite all my research I wasn’t prepared for the hidden charges of US trading on CMC. I was aware of the 2% FX buffer - which is completely reasonable and is just there to cater for fluctuations in the FX rate while processing the transfer, and is refunded if there is none. + +I was also aware of the 0.6% exchange rate premium for buying US stocks. They don’t exactly put this figure front and centre though, and it feels a little bit like they’re trying to hide it. + +What I wasn’t prepared for was that CMC doesn’t keep the proceeds of US stock sales in a USD account. It’s not easy to figure this out from their documentation. Most other platforms that offer US trading (ie Selfwealth, Superhero, Stake, Pearler etc) have USD accounts to retain funds for US trading. CMC doesn’t which is very strange. + +This is a REALLY important difference unless you plan to hold and never move between stocks/ETFs. It really stings you when you sell a stock and buy another. + +For example, say you’re holding $100k of AAPL, then decide to sell it and instead invest the $100k in AMZN. + +**On CMC:** + +* AAPL sold, FX back to AUD 0.6% exchange rate spread - $600 +* AMZN purchase, FX back again to USD, another 0.6% spread - $600 +* Total charges: $1200 ! + +**On SelfWealth (for example):** + +* AAPL sold, proceeds retained in USD account - USD$9.50 trade fee +* AMZN purchase, using USD proceeds - USD$9.50 trade fee + +**CMC $1200 vs Selfwealth USD$19** + +So trading $100k between US stocks on CMC is $1200 and most other platforms just the trade fees, eg total USD$19. + +I’m flabbergasted that this is the case and I wasn’t aware of it before putting my money into CMC and investing in US stocks. I had even checked reviews of CMC on sites like Finty, Finder, Canstar, Choice etc, and don’t recall this ever being pointed out. To me, this seems like the most important thing you need to know about US trading on CMC, yet I was unaware of it. + +Being so confused about this and not having a definitive answer, I asked directly via CMC’s live messaging. Twice, the support rep referred me to the FX buffer, stating it gets refunded and referred me to the documentation on their website. Multiple times I had to explain that I wasn’t referring to the FX buffer and I understood how that worked.After quoting their own text stating the “spread of just 0.60%”, and asking very specifically about whether this is also charged on the sale or if funds are retained in USD, the rep finally admitted that yes, I would be getting charged 1.2%. + +I get the feeling that CMC are deliberately being evasive about this fee. It’s an absolute dealbreaker for trading US stocks and they must make a fortune off those who aren’t fully aware of the underlying workings of CMC vs the way most other platforms operate. + +I’m not quite sure why this isn’t spoken about more. It seems like an absolute rort that isn’t being adequately reported in reviews or given the weight it deserves on CMC’s own site. + +Fortunately I've only sold and bought $20k of my US holdings so far, incurring $240 in exchange spreads. However, now I need to transfer my US holdings out to another platform which has US currency accounts (ie just about anyone else).The problem with this is that CMC charges $100 per holding to transfer out. I currently have 7 US holdings, **so I will need to pay $700 to transfer out.** + +Despite my best efforts, and feeling like I've researched CMC adequately, I'm still being stung with $940 in hidden fees. +If someone is successful scalping options and stocks during the day, I would imagine that your account size can grow quickly. Then you can simply do the same thing with larger size — exponential growth. But then clearly there is a limit? + +What is that limit and how do you think about it? + +So I am in the process of being diagnosed with a personality disorder. I'm 38 and all my adult life I have been running and hiding from debts I have had bailiffs, collection agencies and solicitors after me for at least 15 years. + + The debts include everything from council tax, hire purchase, utilities some small payday loans, a couple of credit cards, probably parking tickets and other vehicle related fines, an overpayment of salary lots of court costs and collection fees. + + I haven't really generated any new debts in the last 3 years however I have been "self employed" during this time and not registered for tax or NI so will have that to face at some point. + + I have had lots of different addresses not usually lingering in one spot for more than 2 years, trying to keep my details off as many registers as possible or giving old addresses where possible, been running ducking and hiding and have thus far evaded most of it. + +Recently a couple have caught up with me and instead of just doing the ostrich routine I have started making payments on 3 of the council tax debts (single collector so one payment) and 1 mobile phone that I stopped paying when it broke days after I got it and was lost shortly there after (no insurance). These I have been keeping up payments on but it isn't really sustainable. + +Anyway, whenever I try to sort things out I can never actually get a comprehensive list of debts together, my credit file is fragmented, many appear to have given up, many debts have been sold off to other people several times, are some written off of given up on? I have attempted to enter an IVA in the past perhaps twice but the management were getting like 4x what the creditors were and as usual due to mental health issues lost my job and defaulted on that. + +How can I find out exactly who I owe what to because last time I paid to do the experian credit thing there were hardly any entries on my file. +Greetings people smarter than I... + +So I've come out of Uni and landed a job, got a letter today saying I've been auto\-enrolled onto the companies pension scheme. + +I have to contribute 3&#37; (works out at £75/month ish) and the company put in 2&#37; of my salary, next year I'll have to pay 5&#37; and the company pay 3&#37;. + +Question is, should I opt out and invest the money myself? I get the feeling that cash trapped in a pension will lose out to inflation over 40 years or however long it ends up being. Would I be better of investing in property etc instead? + +Thanks in advance! :) +So for example, earning a salary of £35,000 in London, commuting in, and being able to afford mortgage payments/having kids etc. + +Has anyone been in this situation before and made it work? + +I’ve basically got a good opportunity to fast track my skills and career progression, but it involves moving into London from a fairly cheap area of the country. + +I’d have about £70k to use as a deposit on a property, but I know I wouldn’t be able to afford as much as what I could before. + +I’m basically wondering how feasible this idea would be? Thanks! +As the title says I took my toddler to the park to get some air and as we were walking through the playground I heard the word Bitcoin so I turned to see who said it and there were four kids probably ages 12 or so having a very intense meeting about their plans to obtain Bitcoin. I didn’t want to seem like I was eavesdropping so I couldn’t hear the whole conversation but I caught some of it and it went something like rent bots get graphics cards sell the graphics cards for profit and buy Bitcoin. One of them was unsure of the plan and then I heard one say “don’t worry guys I’m very good at investing I got this.” Then they proceeded to talk about the percentages they would make if it reached certain levels and how they would split it and take care of it. Little rascals...what a time to be alive. +So I quit my job today. I have another job lined up which pays more but they have extended my start date till the 6th of June. + +I was constantly getting verbally abused by customers at my old job and I couldn’t take it anymore. So I just got up today and resigned. Felt great till I remembered I have bills to pay. + +I also double burned myself because I remembered my new job pays monthly so I’m basically looking at no income till the 20th of June. + +I currently have debt payments that need to be met as well as general bills. + +Iv been burned in the past getting out payday loans (which I am still paying off) but now I am in need of desperate cash. + +Centrelink gave me an estimated payment start date of 25th of May which is already too far out. + +I know I’m an idiot but my mental health was suffering I couldn’t take another day at that job. + +So now I’m faced with the uncomfortable decision….should I apply for some type of loan with either a payday or bank just to keep everything afloat while I get back on my feet? + +Please help. + +EDIT: wow I wasn’t expecting so much help and replies. You all are awesome made me really rethink that I’m not totally screwed ! Thank you 😊 + +EDIT2: I went to sleep thinking this post had given me enough advice to get through then to wake up to the abundance of concern and advice really Brought up my spirits. I’m going to see what I can do with Centrelink and also see if I can pick up a simple temp job in the mean time !! Thank you all once again. +I find interesting that ARK ETFs are being commented in most threads. ARK ETFs are performing so well, it’s so forward thinking, Cathie Woods is so smart, blah blah blah... + +Funny because I have been on this sub for years, and ARK ETF only started to be discussed here less than a year or so ago. And it is been in most threads in the past 6 months. Obviously, it is due to recently bias, some of the stocks they picked did so well in 2020, so everyone is talking about ARK now. Valuation does not matter, stocks go to the sky, etc... + +If you had significant exposure to ARK ETF 6-12 months ago, and you are largely positive, count your blessings. There is no guarantee that they will perform well next year, or in 5-10-15-20 years. I see many comments implying this is pretty much a done deal, that it will go to the moon long term. But nothing is certain. Do not be overly concentrated. + +Active funds are a double edge swords. If you want a lesson from the past, look up Legg Mason. Bill Miller beat S&P for 15 years. He was a proven legend over and over (so not like ARK ETFs that have only less than 1 year of very good record, with most of their ETFs behaving the same - hello Tesla and friends). + +Except that after his 15 years, he started underperforming S&P significantly. Things were so bad, they ended up selling the whole Legg Mason company. + +All of this to say, it is okay to have some ARK ETFs, avoid too much of it though, and understand that it is high beta stocks that can go up and down significantly and very quickly. Also make sure to grasp when you are falling for recency bias. +I WANT YOU ALL TO LOOK AT THIS + +[https://imgur.com/a/0C748cH](https://imgur.com/a/0C748cH) + +look at the difference in volume as of today. + +THIS IS JUST TODAY + +[https://www.theoptionsguide.com/synthetic-long-call.aspx](https://www.theoptionsguide.com/synthetic-long-call.aspx) + +Now this is what a synthetic long call is + +This is what a synthetic long call is. Basically. When you short a stock. You are take 100 shares and selling them from an institution even if you dont have them. You have to cover that 100 shares at some point. + +however. If you make another contract to -buy- 100 shares. You have in effect cancelled out your 100 shares you sold. Because you wrote a contract to buy 100 shares. + +Now! Look at this + +[https://www.ortex.com/symbol/NYSE/GME/short\_interest](https://www.ortex.com/symbol/NYSE/GME/short_interest) + +The ortex short interest has been falling all last week along with the price. When GME is falling 100$ who is going to be looking at 800$ calls + +which tells me that they have been buying 800$ call this whole time in order to cancel out their short positions. Because as the stock price falls those 800$ are going to get dirt cheap. Even when GME was going up 800$ were like 4$ + +i even have proof of one of the HFs doing it! + +[https://www.holdingschannel.com/bystock/?symbol=gme](https://www.holdingschannel.com/bystock/?symbol=gme) + +look at seqouia or whatever. + +they have like 1.8 million puts and over 6 million calls + +I am trying to get this out there for people to see! + +Thanks for all the awards! I really dont use Reddit but I dont want the shorts to win! + +EDIT: I just got into the office and I have been reading some of what people have been saying. Yes it might be ITM for synthetic calls. However there are other plays such as a short cal as well. Where you cans short a stock using a call + +This is called a short call: + +[https://www.investopedia.com/terms/s/short-call.asp](https://www.investopedia.com/terms/s/short-call.asp) + +With that said. Its not HFs using those calls to hedge their bets. If that is so. Why is the volume for 800$ calls almost 9300 in volume for THIS WEEK. There is no way GME will get to 800 even if we go to the moon. I feel they are buying these contracts and exercising them in order to mess with the short interest numbers. If they were covering under normal circumstances. WE would not be seeing these massive drops in the morning followed by an entire day of trading sideways the rest of the day. We would see diagonal line downward as people give up and sell and shorts by the shares up to slowly cover at a lower and lower price I have seen this slow bleed happen with many stocks that have been shorted. GEVO BNGO and IDEX come to mind. + +No matter what the volume on these 800$ contracts is sus and is the HFs using them in order to distort the perception of the stock. Take it for what you will. I did all of this DD over many hours last night and I was pretty exhausted by the end of it. the screenshots i have are pretty damning proof of some fuckery going on. + +TL:DR: Ooo Ooo Ahh Ahh Ape hold, Ape Buy, Ape buy many Banana! + +EDIT 2: And those calls continue to be bought even for today. Go look at 800$ call options today. The volume on those calls are already at 2,767 as of this post and climbing. The 780$ calls are no where near that volume and who would buy those calls when you can get much lower calls for either the same price or cheaper! + +EDIT 3: To prove my point to you all. We are being shorted currently and I want you to see the volume of 800$ calls that have been made so far + + +[https://imgur.com/a/RLwxUVM](https://imgur.com/a/RLwxUVM) +Ok so there is a lot of talking about how the floor is 10mil. And I absolutely believe and understand that there is literally no limit to how high a stock can go. That's clear. + +However, you agree that these high numbers are only reachable if the majority resists selling at rookie numbers. I'm not saying that we have to plan to hold to a certain amount. I'm just saying that high numbers are only possible with high amount of hodlers. + +Anyway, here at r/superstonk the sentiment is very clear. All are jacked to the tits and very euphoric about the current development. But what about all the other subs talking about stocks? Are they also hyped? Are they also assuming that 10mil is the floor? Do they care about the fractional share holder? +I don't know. You would have to setup a poll to find out. But here is the thing. Holders with 10 shares are more likely to hold than ones with 1000 shares. Why? Because what the heck is a retailer going to do with billions of $$$. If they have a very successful year they might make a million. Maybe 2 million. Next year won't be that good again. But if these people see a billion in their account do you think they still be sitting there and think that it will increase even further. I don't think so. They will get the hell out and don't look back. That's just my personal assumption. Many will be happy to even reach 10 mill in total. + +That's why it is super important to be ready for this. You have to set your goal and be ready to resist selling. It is not about the sum in your account. It is about the share price. +Someone with ten shares can easily reach 100Mill in his account if he can resist from selling earlier. + +Please read all the "prepare for the moass" and how to behave after the moass DDs. +I will hold my bananas very tight and am ready to hold for the chance to help generations with my tendies. + +In the beginning it was about life changing money. Now I am researching on how to found a foundation to help my city providing better infrastructure and education. +I feel I have a responsibility to help others. And that is a good feeling. All my life I was struggling to have a decent life. My tendies will help others to have a decent life as well. Please keep that in mind. That's why it is important to stay focused and not get to hyped or celebrate victory before you reached your personal goal. + +TLDR: Stay cool and enjoy the show so you can help yourself and everyone in need. + +Edit: thank you very much for the award, kind stranger! +I see everyone talk about “their” spreadsheets for tracking X, Y, and Z. I’ve made spreadsheets to track things in the past but as of right now I’m not tracking, projecting, or estimating anything. Everything currently is quick back of napkin calculations. I know I can’t be the only one. I was hoping maybe some of you fine people would be willing to make a copy of your spreadsheet(s), scrub them clean (optional) and share them with the group. I saw /u/wannabe_fi shared their Google Sheet last week. + +I just hate to re-invent the wheel and most likely leave things off my FIRE spreadsheet(s) that I would otherwise not think of with-out you guys! + +Note: You can import your spreadsheet if Excel into Google Sheets for easy sharing, or upload it to your favorite file sharing site. + +THANK YOU + +Welcome to the **/r/EthTrader** Daily Discussion thread. The thread guidelines are as follows: +*** + +- Discussion topics include but are not limited to general discussion, details related to events of the day, technical analysis, Ethereum Classic, and minor questions. +- Important content should be posted as a separate thread. +- Be excellent to each other. + +*** + +Thank you in advance for your participation. Enjoy! + +Many people have been anticipating the merge for a long while now (myself included) and with it getting nearer and nearer it’s starting to get more and more attention. + +However, I think Sharding deserves just as much, if not more, excitement and anticipation. + +While implementing both the merge and sharding is necessary to make Ethereum the ultimate blockchain with built in scalability and efficiency, Sharding definitely has a more significant role doing that. + +Scaling solutions are already doing an amazing job on their own and getting tons of funding and partnerships. Loopring is working with GameStop and other Zk-based scaling solutions like Zksync working with Bitdao which funded them with $200 million to develop Zkdao (which will apparently be a scaling solution focused solely on DAOs) and this is not mentioning the wide list of developments happening in the L2 sector right now. + +So imagine all of this but even WAY more consistent, faster, cheaper and overall more efficient. It would make Ethereum seriously overpowered when compared to other blockchains. + +This would be great news for the entire market cause it will push competition into higher levels and make blockchains work harder to deliver a faster and cheaper platform. +Below is Part 2 of 2 of my diligence on Coinbase. [Part 1](https://www.reddit.com/r/investing/comments/mr2m8u/coinbase_deep_dive_diligence_part_1_of_2/) included qualitative thoughts. Part 2 includes my quantitative thoughts. Almost all of the data I provide here comes from the company’s [S-1 filing](https://www.bamsec.com/filing/162828021005373?cik=1679788), website, [latest Q1 2021 report](https://www.bamsec.com/filing/162828021006601?cik=1679788), and [Meritech’s breakdown of Coinbase’s S-1.](https://www.meritechcapital.com/blog/coinbase-ipo-s-1-breakdown#:~:text=Coinbase%2C%20the%20leading%20digital%20currency,their%20S%2D1%20last%20week.&text=The%20company%20is%20riding%20a,for%20when%20they%20start%20trading) + +**Overview of Q1 2021 Results** + +* I’ve spread Coinbase’s key financial results and metrics over the past 9 quarters [here](https://pbs.twimg.com/media/EzNvBZZVoAgWzDW?format=png&name=large) and all you really need to do is look at the last column to see the insane growth Coinbase has experienced in the past quarter +* To highlight a few of the most impressive stats from Q1 2021 alone: + * **$1.8BN in revenue** \- 208% growth vs. Q4 2020 and almost equivalent to all of 2019-2020 revenue **combined** + * **$1.1BN in EBITDA** (63% EBITDA margin) and **$765M in net income** (43% net income margin) - highly profitable business + * $223BN assets held on Coinbase / $1.9TN crypto market cap = **11% market share (share has been growing from 5% in 2019** + * **56 million verified users -** 148% increase vs. Q4 2020 + * **6.1 million monthly transacting users** \- 118% increase vs. Q4 2020 +* In short, Coinbase couldn’t have picked a better time to go public given its business is firing on all cylinders + +[**S-1 Income statement Overview**](https://www.bamsec.com/filing/162828021006850/1?cik=1679788&table=35) + +* Already went through revenue, EBITDA, and net income above so won’t go into those numbers in this section and instead here are some interesting details about how Coinbase operates: + * Only 5% of total revenue comes from **institutional trading** vs. 90% from **retail** ([source](https://global-uploads.webflow.com/5defb8273d0a4ce99a0af8ee/603db9c3d6043b53ffce04e5_Net%20Revenue%20Build.jpg)) + * As you can see from this [chart](https://global-uploads.webflow.com/5defb8273d0a4ce99a0af8ee/603dc425026023788b31aa90_Retail%20vs%20Inst%20Trading%20Volume.jpg), institutional trading which is in orange is increasingly taking up a larger portion of trading activity, but since the fees are much less, institutions aren’t as big of a revenue driver for the company + * As an investor, you also want to pay attention to Coinbase’s [subscription and services revenue](https://global-uploads.webflow.com/5defb8273d0a4ce99a0af8ee/603db9c3d6043b53ffce04e5_Net%20Revenue%20Build.jpg) which is **growing quickly but only represents 4% of revenue** + * These revenue streams are important because they aren’t as reliant on the volatile crypto market + * Another key component of revenue you’ll want to keep track of is **Coinbase’s fees** which is known to be one of the highest amongst all crypto exchanges. There is a [slight downward trend](https://global-uploads.webflow.com/5defb8273d0a4ce99a0af8ee/603dc1ba90bfb1afb0dec799_Implied%20Take%20Rate.jpg) which may continue over time as competition intensifies + * Something I personally find most impressive is that only **4% of revenue was spent on sales & marketing**. The company states that [90% of its retail users came through word of mouth](https://www.bamsec.com/filing/162828021005373/1?cik=1679788&hl=450165:450601&hl_id=vkh5d_8u5) which just means customers are freely marketing for the company +* So in sum, Coinbase’s income statement looks really great but it’s important to note that the company is highly reliant on a volatile crypto market which you can see much more clearly [if you look at the quarterly figures](https://global-uploads.webflow.com/5defb8273d0a4ce99a0af8ee/603dc5db0260230460324f6a_Transaction%20Revenua%20and%20Trading%20Volume.jpg) + * The blue bars represent transaction revenue which represents 96% of Coinbase’s revenue. The orange line represents trading volume and you can see a very strong correlation between these two metrics +* This is made even more clear as you go down the income statement looking at [this visual](https://global-uploads.webflow.com/5defb8273d0a4ce99a0af8ee/603dbcb3c622e2441c22e876_GAAP%20Operating%20Margins%20and%20Adj%20EBITDA.jpg). The blue bars here represent Coinbase’s operating income while the orange and gray lines represent EBIT and EBITDA margins respectively and the numbers are all over the place +* **Main takeaway:** Coinbase’s reliance on the crypto market is good when things are up and bad when things go down and this represents the biggest risk of investing in Coinbase + +[**S-1 Cash Flow Statement Overview**](https://www.bamsec.com/filing/162828021006850/1?cik=1679788&table=38) + +* Coinbase’s 2020 cash from operations is $3BN and subtracting out capital expenditures of $9.9 million leave us with **a little less than $3BN in free cash flow** which sounds pretty outstanding (but there’s a catch): + * Custodial funds are basically **cash deposits customers are holding** on Coinbase’s platforms and the company is **restricted** form using this cash + * This means that custodial funds actually **inflate** Coinbase’s cash from operations since it’s not really cash that Coinbase is generating from its business and its really owned by their customers + * As a result, Coinbase’s cash from operations for 2020 is closer to **$300 million** and their free cash flow is closer to **$285 million** which is still solid but nowhere near the $3 billion mentioned above +* Beyond that, nothing stands out on the cash flow statement and the figures probably look even better now given Q1 2021 figures +* Definitions in case it’s helpful:  + * **Cash from operations** represents the cash generated from the core operational part of the business which for Coinbase mainly means operating its trading platforms, paying employees, suppliers, and etc. + * **Free cash flow** is the cash the company generates that they are “free” to do whatever they want with, which could mean investing back into the business, paying down debt, or paying investors via dividends + +[**S-1 Balance Sheet Overview**](https://www.bamsec.com/filing/162828021006850/1?cik=1679788&table=34) + +* With **$1BN in cash and no debt,** Coinbase is in a very solid position + * Digging in a little more, you do see assets a bit inflated due to the custodial funds but that’s also balanced on the liability section +* Two other unique line item worths mentioning are the **crypto assets held vs. the crypto asset borrowings** which are interrelated and offset one another +* The last thing I want to mention is that **Coinbase’s PP&E is only $50 million** which is tiny compared to the company’s scale + * Personally as an investor, I want to see these kind of asset-light companies because physical PP&E often depreciates so rapidly over time and is costly to manage + +**Coinbase Valuation** + +* The hard thing about valuing Coinbase is that the company’s results are so tied to the cryptocurrency market, which as you probably know is incredibly volatile, so I’ll do my best to frame valuation with some data / numbers, but treat them all as rough estimations +* With Q1 2021 revenue at $1.8BN, taking a simple annual run rate of $1.8BN x 4 = **$7.2BN in 2021 expected revenue,** which represents **464% year over year growth** vs. 2020 +* Comparing against some of the [fastest growing software companies in the world](https://cdn.substack.com/image/fetch/w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com%2Fpublic%2Fimages%2Fabc93f6a-762b-4ac3-881e-d02078acff4c_472x288.png), no company comes close to Coinbase’s revenue growth BUT these companies of course have much more predictable business models while Coinbase’s revenue growth could easily go negative any given quarter or year +* As a result, I think it’s fair to apply a 9-11x 2021 sales multiple to Coinbase which I think is more on the conservative side and credits Coinbase for its growth while also recognizes the company’s volatility and potential downside + * 9 x $7.2BN 2021 revenue = $65BN enterprise value - $1BN net debt = $64BN equity value / 261mm fully diluted shares = **$250 / share** + * 11 x $7.2BN 2021 revenue = $82BN enterprise value - $1BN net debt = $81BN equity value / 261mm fully diluted shares = **$313 / share** +* **Thus, I get to a range of $250 - $313 per share for Coinbase** with room for a lot of upside if the crypto market keeps growing and a lot of downside if the crypto market faces a significant correction + +**What I’m Doing** + +* I’d be comfortable buying Coinbase at **$250-$313 as a small portion of my portfolio (\~5% max)** as I think that it's a reasonably fair value for the company given the potential for a lot of upside in the future if the crypto market grows exponentially as it has been + * I know there’s a lot of debate about buying Coinbase stock vs. Bitcoin or crypto as pure play investments; personally, I don’t see much harm in betting on both, especially for my Roth IRA which obviously I can’t buy crypto in +* That said, I do think the crypto market at the moment is in a bubble (I experienced the 2017/2018 crypto crash and see a lot of similarities but this is just **pure personal speculation**), so would plan to at max buy 50% of my total ideal position and dollar cost average down if and when the opportunity arises + +**TLDR:** In my view, Coinbase is a good buy for the right price (ideally in the $200s for me). Financials look outstanding based on 2020-2021 figures released thus far but the company's volatility and dependence on the crypto market makes it a tricky buy. I wouldn't blame anyone for being super bearish or bullish on the stock. Since I'm bullish on crypto in the long-run, I'm cautiously bullish on Coinbase as well. + I bought healthcare technology & innovation ETFs last week. And now I am thinking about investing in other themes that I think will be top in 2022: + + +\- Cybersecurity + +\- Natural resources + +\- AI and big data + +\- 5G + +\- eCommerce + + +I am looking for more options from y’all as to which themes you are planning to buy for 2022. I am also considering using some platforms to guide me in choosing what ETFs to invest in since I also heard some folks say that they are currently using [Trackinsight,](https://www.trackinsight.com/en/thematic-investing/?r=1) [Fidelity](https://www.fidelity.com/etfs/overview), and [Acorns](https://www.acorns.com/). According to them, it really helped them in getting the whole picture of thematic ETFs and useful for starting out. Any thoughts on this? +Yesterday I stumbled upon this article from 2009: +https://www.telegraph.co.uk/finance/property/house-prices/6000962/The-house-price-crash-of-2007-2009-is-over-CEBR-declares.html + +We can now look back and see that it was a good decision to buy in 2009, but I am pretty sure it was not an easy decision when there was uncertainty around and you didn't know how much more the market would correct. + +If you managed to get a bargain in 2008-2009 while buying your house in England, can you please share your house hunting/buying experience? + +Were the agents reducing the listing price every other month or were buyers asking for way below the listing price? Were the properties on the market for a very long time or they were selling fast as soon as price was reduced? + +Were all the listings on sites such as Rightmove and Zoopla, or there were other sources of listings. + +I just wanted to know if first time buyers actually got some of the deals or the price correction was on paper only with most people holding onto their properties. +I'll have to go with XRP. + +They actually believe that all the banks will start to use Xrp, because "cheap borderless transactions", which in turn will obviously moon the price since literally every piece of fiat that bank transacts with will be converted to xrp. It's obvious, do your research lol + +Edit: this is not a hate post, grow up. Just curious + +Edit 2: once everyone realizes the importance of fungibility and privacy, wownero will flip doge. Yeah i'm deluded af + +Edit 3: ada seems to be the most common answer, along with btc maxis, dog and "safe" coins 😁 +I'll have to go with XRP. + +They actually believe that all the banks will start to use Xrp, because "cheap borderless transactions", which in turn will obviously moon the price since literally every piece of fiat that bank transacts with will be converted to xrp. It's obvious, do your research lol + +Edit: this is not a hate post, grow up. Just curious + +Edit 2: once everyone realizes the importance of fungibility and privacy, wownero will flip doge. Yeah i'm deluded af + +Edit 3: ada seems to be the most common answer, along with btc maxis, dog and "safe" coins 😁 +Hello all. Recently got approved for a credit card with a 9.5k balance and a 21 month 0% interest balance transfer offer. Sent $9,000 balance transfer to my own bank account rather than another credit card, paid $287 in balance transfer fees. Then used said balance transfer to buy 1,750 shares of amd @ 7.45 for $13,037.50 (used some margin) leaving myself with $68.75 left in my life savings account, but 21 months to pay off the balance transfer interest free. Was this plan foolproof? Can I lose? Stay tuned what will happen next. Please comment on whether this was a good idea or not ty in advance. + +Proof: +http://i.imgur.com/G8Ov6tZ.png + +edit: +Futher proof cause somebody called BS: +http://i.imgur.com/kpXCUmw.png +Like a lot of people, I recently opened a Chase savings account to take advantage of the 1.5% interest rate. + +Chase themselves have been fine, but be wary of transferring large amounts from Santander. As Chase doesn’t yet have confirmation of payee, Santander decided to block access to all of my accounts (online & app). It took over two hours on hold last night, followed by a further 30 minutes this morning to finally unblock my accounts. + +This could have had pretty bad consequences had I need to pay a bill etc. + +Perhaps blocking for security is acceptable, but 2.5 hours on hold is not. Personally I’m leaving Santander, and I hope this post saves someone the time and frustration that I’ve gone through. +I'm looking to switch from my current role to Data Engineering. I currently work in an engineering admin role earning around £25k a year - which I consider quite low. + +But, from checking salaries of Data Engineers, I'm seeing that they range from £26k (junior) to £44k (experienced). There are people that earn more but I think £44k is around the median. + +Bearing in mind that software engineers and data engineers both earn about the same, this range seems extremely low for computer science based fields. + +However, I do work with people earning around £70k and my mum earns around £100k, so maybe my idea of a high salary is a little biased. + +Regardless, I'm just wondering what my options are. Is it crazy to think about relocating outside of the UK? I'm 29 and single so I suppose there's nothing holding me here. + +Or am I just being silly expecting a bigger salary? +Hi UKPF! + +I'm in the fortunate position that i'm beginning to regularly invest (in Vanguard all cap index fund via S&S ISA) - but i'm struggling to arrive at scenarios where I would choose to liquidate in the next 5-40 years, rather than keep the money in the index fnd, given the advice is generally to keep money in here for as long as possible for compounding returns. + +I'm interested to hear what some of you have chosen to cash in some or all of your investments for. New kitchen, house extension, cars, life events, retirement, etc? + +Edit: For context I have already: +Got married and paid for wedding +Bought first house - plan to stay here for at least 10-15 years. +21% total pension contributions - total value of £27k at 32 +Don't care about cars - I drive a 2009 Hyundai I10, does me fine ;) +No kids but plan for 1 in the near future. +No debt, but do need to renovate kitchen and bathroom in the current property - likely via DIY. +So I just found out when my lease is up in November I'll be forced to move. I've had it really good here. I know the landlord and for my portion of the rent and utilities I've only been paying 600 a month. I make around 1200\-1300. I don't see how I can make it into even a studio with what I make. I'm in crises mode now I used to blow so much money . I've had a bad habit of compulsory spending. I'm planning on selling all of my games besides my switch. I've already cancelled my Amazon prime, Hulu, and wow subscriptions. I have no savings besides some crypto. I know this is all pretty vague and I don't expect any perfect answers but I'm hoping for maybe some ideas that might help me. If I left out any important info let me know. + +Edit: I just want to say thanks to everybody posting with ideas and encouragement this sub is awesome +This particular post is a bit of a stretch, but we can push a wide adoption for *decentralized open ledgers* with enough people on board. And yes this is piggy-backing on the [post](https://www.reddit.com/r/CryptoCurrency/comments/7szv82/paywithcrypto/) u/OskiG made, but I really think he/she's on to something. + + +**Power in numbers** +Hello all for context me and my girlfriend prepaid a rental for 6 days for a Range Rover at a total of $770. when we got there we were told we couldn’t have it and the best they could do is a Chrysler 300s. We were not given a refund or anything like that to make up for it. I called their customer support and tried multiple times because they kept hanging up on me, 2 of the 5 people I talked to said some how the Chrysler would’ve been more than the RR even though I checked and the RR was almost 2x the amount per week. 1 person said it should’ve been 3200 for the week for the Chrysler and we should just drop it so we don’t get charged. Is that a attempt to get us to go away and stop trying? I eventually found corporate email and now am trying to get in contact with them. Any advice thanks. +I did the math recently, and found out that if I work my current job for another 10 yrs, I will be able to FIRE at 45 (rent+food). + +This looks like an excellent argument to keep working this job, but: + +-it leaves me exhausted every day, to the extent that collapsing on the couch and falling asleep two hours after i got home is pretty much how my life goes now + +-I want to quit/escape pretty much all the time + +-I need to take work home on the weekends, I feel I never really have "free" time because I have things I should be doing (which I am procrastinating on because I hate my job) + +-location: buttfuck nowhere, so isolated, so no life, no gf. + +Pros of staying at the job: RE at 45 +Cons of staying at the job: hate it, youth wasted, crap location, tired, junk food/coffee to power self through the day -> bad health. + +Location is pretty-much non-negotiable; if I left this particular job and got another in the same industry, it would also be in the middle of nowhere, and I would also hate it. I know this because I did this before - changed jobs 4 times, but so far, same shit different day. + +Job is also such that if I left, I would have to start entry-level somewhere else, and reduce my yearly savings by approx 20-25k. + +So, basically, it's the job from hell, no life, or RE at 45. + +What would you do? +&#x200B; + +hi bro\~ + +Currently, ants in Korea are making complaints to the press, complaints to the Korea Depository, complaints to securities companies, and complaints to the Financial Supervisory Service. + +Among the many complaints, I filed a complaint with the Financial Supervisory Service. The complaint is as follows. + +&#x200B; + +1.GameStop announced a 4:1 split on July 6th. + +[GameStop Announces Four-for-One Stock Split](https://gamestop.gcs-web.com/news-releases/news-release-details/gamestop-announces-four-one-stock-split) + +\[today announced that its Board of Directors has approved and declared a four-for-one split of the Company’s Class A common stock in the form of a stock dividend. Company stockholders of record at the close of business on July 18, 2022 **will receive a dividend of three additional shares** of the Company’s Class A common stock for each then-held share of Class A common stock.\] + +&#x200B; + +2.The difference between GameStop's stock dividend split and general split + +1)Split in the form of stock dividends:3 additional shares are distributed to shareholders for new shares issued by GameStop + +2)General stock split: Divide 1 share by 4 shares. + +&#x200B; + +3.On July 22nd, Kiwoom Securities proceeded with a 4:1 split in a general split method (same as other korea securities companies) + +&#x200B; + +4.[Kiwoom Securities says that GameStop reported to DTC as a general split.](https://www.reddit.com/r/Superstonk/comments/wgjmor/the_korean_broker_says_that_the_gamestop_reported/) + +&#x200B; + +5.[Kiwoom Securities Notice](https://www1.kiwoom.com/h/common/bbs/VBbsBoardBHHGZView?Bn8LP=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&JRO2QHs6F=ZHVtbXlWYWwlM0Qw) + +\[There are foreign media that are referred to as stock dividends for the split + +**It is unclear why the news expressed this as a dividend.\]** + +&#x200B; + +1)Kiwoom Securities does not seem to know the difference between stock split and dividend split. + +&#x200B; + +6.[Gamestop's report to the National Tax Service](https://gamestop.gcs-web.com/static-files/1764b8e4-0e1d-41a6-b502-8c5ab7604dc8) + +\[On July 5, 2022, the board of directors of GameStop Corp. ("GME") approved a 4:1 stock split to be distributed as a stock dividend (the "Distribution"). The Distribution was made on July 21, 2022 to GME shareholders of record as of July 18, 2022 (the "Record Date"). \*\***Each GME shareholder received three additional shares of GME Class A Common Stock ("New GME Shares") for each share of GME Class A Common Stock ("Existing GME Share") held by such shareholder at the Record Date.**\*\*No cash was paid in lieu of fractional shares\] + +&#x200B; + +7.[Notice about the division processing problem of GameStop](https://gamestop.gcs-web.com/stock-split) + +\[GameStop has notified its transfer agent and the Depository Trust Company (“DTC”) that some of our valued stockholders in international geographies are still trying to determine if they have received the proper stock dividend associated with the Company’s recent 4-for-1 stock split. **Please note GameStop has already distributed the shares of common stock required for the stock dividend to its transfer agent, which has confirmed it subsequently distributed the appropriate number of shares of common stock to DTC for allocation to brokerage firms and other participants**. \] + +1)Gamestop has already delivered new shares to dtc and transfer agents. However, DTC, KSD, and securities companies do not deliver new shares to shareholders. + +&#x200B; + +8.[German Financial Supervisory Service (Bafin) Notice](https://www.bafin.de/SharedDocs/Veroeffentlichungen/DE/Meldung/2022/meldung_2022_08_02_gamestop.html;jsessionid=34CFB30037DF815084E7EE46EA433FE4.2_cid502) + +\[**The GameStop Corp. decided on a stock split in the form of a stock dividend at the beginning of July. The BaFin has - also due to a few tips from investors - asked the custodian banks to ensure the delivery of the new shares.**\] + +&#x200B; + +&#x200B; + +conclusion + +1.The Korea Securities Depository also says that it does not have the authority to request correction of incorrect rights information to DTC because it is a relay processing agency. + +2.Securities companies seem to lack understanding of dividend distribution. + +**3.As in the case of the German Financial Supervisory Service, the Korean FSS should order securities firms to pay new shares to shareholders.** + +&#x200B; + +[korea community](https://gall.dcinside.com/mini/board/lists?id=thepowerofapeorant) +https://i.redd.it/uh095bmg4m611.jpg + +I'm already shadow banned from r/wallstreetbets for unrelated stupidity. We don't even need to go there. + +On a serious note I was actually legitimately optimistic of Aquinox. The research looked good and I actually feel bad their company is all but done. + +As for the future I'm taking the remainder of my account and heading back to my 82 year old man portfolio at Fidelity that continues to perform way better than anything I have done with options over the last few months. + +It's been real. +&#x200B; + +The net premium on GME headed further into positive territory this week. In the past, this was met with massive price spikes. The net premium on options flow shows that large order are pilling in and a move is about to happen. + +&#x200B; + +https://preview.redd.it/rjri8tuotyy71.png?width=1332&format=png&auto=webp&s=f6df2ed0b559bf031f5c4aac5f6406ef1d969138 + +&#x200B; + +https://preview.redd.it/lkgninuwtyy71.png?width=1332&format=png&auto=webp&s=f97768a0282f5dc2c163d452c43fc9a629439fbf + +Large flows are still pilling in. + +https://preview.redd.it/2r8saaf1uyy71.jpg?width=1623&format=pjpg&auto=webp&s=4c932c386d83b57343a3134c5517e457fd703c11 +**Summary** + +[ComfyToken](https://www.comfytoken.com/) is a token for the people, by the people, for the sole purpose of #StayingComfy. + +One of a kind, unique tokenomics: 2%-30% Transaction Tax. The bigger the trade, the higher the tax. The idea behind these tokenomics is to discourage large movements and prevent whales and bots from manipulating the price, which leads to a **comfy** long-run hold. + +Every ComfyToken holder automatically receives reflection through the smart contract on the BSC network; more specifically, they receive a portion of fees back everytime a transaction occurs on the smart contract. The fee on every transaction is progressive, it is based on the size of each transaction relative to the circulating supply. + +**Tokenomics** + +Transaction fees are:2% if <= 0.001% of CS4% if <= 0.0025 of CS6% if <= 0.005% of CS8% if <= 0.01% of CS12% if <= 0.025% of CS16% if <= 0.05% of CS20% if <= 0.1% of CS24% if <= 0.5% of CS30% if > 0.5% of CS + +\*CS stands for Circulating Supply. Right now CS is \~930B. + +Half of the fee is added to the Pancakeswap liquidity locked (locked for 4 years). The other half is redistributed to holders (including the burn address --> so the supply is deflationary!) + +You have to usually add 2-5% over the transaction fee to get your order through, unless you're buying a large amount, in which case you will might need more! + +**Roadmap / Future** + +The roadmap is super comfy. One of the best I've seen. I tagged this as a "meme/shitcoin" to make sure Rule 7 isn't broken, but the roadmap lists several strong fundamentals/use cases already. You can find the roadmap on the [website](https://comfytoken.com) if you scroll down. Highlights include: advertising, AMAs, listings, audits, merchandise, community events, NFTs, and some other surprises :) + +The team has been very active and friendly so far on Discord / Telegram, and will be doing their first AMA soon. The community is already quite strong/comfy, and there don't seem to be any "wen lambo" moon boys around, which is really nice. Seems like most people are aiming for 500M+ MC (50x+ from here), so I could really see this token going places. The sliding scale tokenomics are truly a step above SafeMoon & copycats IMO. + +**Highlights / Links** + +* \~36 hours old and has already surpassed [1500 Holders](https://bscscan.com/token/0xC737B44CB0Aa18815a1F6918EB338dEe7e7E6bD7#balances) with little to no shilling (this is one of the first big social posts!) +* Chart: [https://poocoin.app/tokens/0xC737B44CB0Aa18815a1F6918EB338dEe7e7E6bD7](https://poocoin.app/tokens/0xC737B44CB0Aa18815a1F6918EB338dEe7e7E6bD7) +* Whitepaper: [https://www.comfytoken.com/whitepaper](https://www.comfytoken.com/whitepaper) +* Recent Medium Article further explaining the benefits of the Tokenomics and more about the Comfy Token: [https://comfytoken.medium.com/come-on-in-get-comfy-cf09ff8e69fb](https://comfytoken.medium.com/come-on-in-get-comfy-cf09ff8e69fb) +* Available on PancakeSwap: [https://exchange.pancakeswap.finance/#/swap?inputCurrency=0xC737B44CB0Aa18815a1F6918EB338dEe7e7E6bD7](https://exchange.pancakeswap.finance/#/swap?inputCurrency=0xC737B44CB0Aa18815a1F6918EB338dEe7e7E6bD7) +* Discord: [discord.gg/comfytoken](https://discord.gg/comfytoken) + +**Website:** [https://www.comfytoken.com](https://www.comfytoken.com/) + +**Disclaimer:** not financial advice +Let me start by saying I don't have a lot of exact numbers on hand and there are a number of things I don't remember or never fully understood to begin with, so excuse that. + + +Hi, reddit. In the fall of 2011 I purchased my first home in a decent sized southern city. I was approved for something like 150k, but I kept it modest and bought an older home that had been recently redone for about 82k. The area it was in was not great, but I have no children so I wasn't worried about the schools zone and I used to live a block or two down the road from it for a couple years and never had a problem with crime. I got a 30 year loan at 4.5% which seemed decent at the time, and I didn't have a lot of cash to put down so my loan has PMI. I feel like at the start my mortgage was only around 400 a month, 500 and change tops. + +Well, it wasn't long before we had our first break in, the door kicked in and a number of electronics stolen. I made a claim with my insurance to replace the door and stolen items. I guess this caused the cost of my insurance to go up, so soon my monthly payment went up a good bit. I always pay over the minimum and it was still lower than that so I just let it slide. I first tired to sell my house around this time, to get out of there and go somewhere my belongings would be safer. My realtor told me at the time that if I listed it for what I owe, her comps showed it would sit on the market for an average of 10 months or longer, there were still a number of houses in the area selling for less at a similar size, and I would be looking at shelling out up to 10,000 dollars in closing costs. I didn't want to go into debt to be homeless, so I said forget it. + +Years go by and the neighborhood has gotten worse and my property value has gone through the floor. Houses are foreclosing everywhere around this side of town so all the values are going down. On top of that, they recently rezoned and say I'm now in a 1% flood zone and am now required to have flood insurance.. Buying that has now raised my mortgage to nearly $700 a month. Though I've paid over the minimum every month for four years, I'm still at least $5,000 away from paying off my PMI. + +To make matters worse, I don't even live there anymore. My fiancé refused to live in that house and opted instead to buy a house twice as expensive in a better area and I live with her now, and my house at times causes us friction because I'm not able to help her pay the bills for her house much because I'm paying the bills for my own house. Ever so often she will bust out a "If you REALLY wanted to sell that house, then you would" implying that I'm not trying to get rid of it at all because I want a place to go after I break up with her.. So yeah, it's putting some strain on the relationship. + +I've tried to lessen the burden some by renting out a couple rooms in there, with the hope I could actually make some money off it and then maybe it wouldn't be so bad to be stuck with it but so far that isn't working out super well. I'm getting a good bit of money on rent but still not quite enough to cover what I owe each month after I pay my usual over the minimum amount, plus the renters are under no lease or contract as I have no idea how to go about doing something like that legally and correctly. I've tried to refinance it once before about two years ago and at that time it was declined saying I owe too much on it, I haven't tried since then. One of the renters would love to "rent to own" one day because their credit is abysmal and they can't get a loan to buy it but that just sounds like a bigger headache for me. + +I would love to just walk away from it and not have it be my responsibility anymore, but I have fantastic credit and don't want to lose that... So I'm looking for advice on how to proceed. I feel like my only option is kick out a bunch of friends who are already down on their luck anyway so I can invest thousands of dollars I don't have into fixing it up to list it for sale so it can sit empty for a year and maybe sell for less than I owe eventually, or try to works some magic and get a better interest rate and lower my payments so that their rent will cover it. Or should I bite the bullet and ride it out until the PMI drops off and hopefully the payment goes way down with it? + +EDIT: formatting +Welcome to the Daily Altcoin Discussion thread of /r/EthTrader. + +*** + +The thread guidelines are as follows: + +- All sub rules apply here so please review our **[rules page](https://www.reddit.com/r/ethtrader/about/rules/)** to become familiar with them. The rules page is also linked in the announcement bar above. +- This thread is intended as a welcome place for discussion of all non-Ethereum related crypto. + +*** + + Resources and other information: + +* Newcomers who have basic questions about Ethereum can find answers by visiting /r/EthereumNoobies or our Ethereum Education wiki page, [see here](https://www.reddit.com/r/ethtrader/wiki/education). + +* To view live streaming comments for this thread, [click here](https://reddit-stream.com/comments/auto). Account permissions are required to post comments through Reddit-Stream.com. + +*** + +Enjoy! + +See the markets on coinmartketcap.com + +1 Poloniex ETH/BTC $ 6,931,520 $ 10.71 41.82 % Recently + +2 Gatecoin ETH/BTC $ 5,773,030 $ 10.72 34.83 % Recently + +Poloniex was always millions ahead of the rest and Kraken second. + +Now Gatecoin has caught up, Maybe the Asian awakening is starting? +Welcome to the **/r/EthTrader** Daily Discussion thread. The thread guidelines are as follows: +*** + +- Discussion topics include but are not limited to general discussion, details related to events of the day, technical analysis, Ethereum Classic, and minor questions. +- Important content should be posted as a separate thread. +- Be excellent to each other. + +*** + +Thank you in advance for your participation. Enjoy! + +Welcome to the **/r/EthTrader** Daily Discussion thread. The thread guidelines are as follows: +*** + +- Discussion topics include but are not limited to general discussion, details related to events of the day, technical analysis, Ethereum Classic, and minor questions. +- Important content should be posted as a separate thread. +- Be excellent to each other. + +*** + +Thank you in advance for your participation. Enjoy! + +Moons are r/CryptoCurrency's version of Community Points. [Community Points](https://reddit.com/community-points) are a way for users to be rewarded for their contributions to the subreddit, and they can be used on premium features in the community. + +Moons are distributed every 4 weeks based on contributions people make to r/CryptoCurrency. For every distribution, Reddit publishes karma data as a default measure of contribution. The community can review the data and optionally propose an alternative distribution, if they wish. + +This distribution is based on karma earned from 2021-10-27 to 2021-11-23. [Here is the data.](https://reddit-meta-production.s3.amazonaws.com/distribution/publish/CryptoCurrency/round_20_proposed.csv) + +To propose an alternative distribution: + +* You can create a CSV with alternative contribution scores or propose changes to the algorithm used to calculate them from karma (as long as the changes can be implemented easily). +* The amount of Moons distributed to a user will be proportional to their contribution score. Contribution scores cannot be negative. +* Make a poll to have the community vote on your proposal. Include an accurate description of the changes you are proposing. +* In order to pass, the winning option in the poll must meet the decision threshold (minimum number of Moons in support). If it is in favor of the change, it becomes the official contribution measurement (unless there is evidence of abuse in the vote, such as bribery). Algorithm changes will carry forward to future distributions. +* In case of multiple competing polls passing, the one with the most Moons cast in favor will be the official one. +* If no alternative passes, the data provided here will become official. + +The contribution scores for this round will be finalized on 2021-12-01. Any poll proposing an alternative needs to be completed by then. + +After the scores are finalized, Reddit will sign the data and publish the final, official data. After that, people with a registered Vault will receive Moons directly into their Vault. Other users will receive their Moons when they create and register a Vault. +Sun Pacific Holding Corp (Sun Pacific) is a green energy company specializing in solar and waste to energy technologies. + +[https://sunpacificholding.com/](https://sunpacificholding.com/) + +They have so much potential I could easily see this going $1+. At the end of 2019 they got $80M project funding for a solar farm in Mexico. They closed on the financing in early 2020 and construction is in motion. They ideally will be done mid this year and that is one of many projects. Even more, it was originally supposed to me 40 MW and it was going so well they expanded it to 50 MW farm. + +[https://www.otcmarkets.com/stock/SNPW/news/Sun-Pacific-Holding-Corps-Subsidiary-National-Mechanical-Group-in-Partnership-with-Blissful-Holdings-Identifies-80-Milli?id=246887](https://www.otcmarkets.com/stock/SNPW/news/Sun-Pacific-Holding-Corps-Subsidiary-National-Mechanical-Group-in-Partnership-with-Blissful-Holdings-Identifies-80-Milli?id=246887) + +Then 4 months ago they entered into 5 year agreements with companies in NJ around advertising to begin their national awareness of what they can really do. This will only lead to bigger and better projects for them. + +[https://finance.yahoo.com/news/sun-pacific-holding-corp-provides-131510253.html](https://finance.yahoo.com/news/sun-pacific-holding-corp-provides-131510253.html) + +Finally, they are on track to get approval for clean and green medical waste removal. Once that happens, it simply adds another green sector for this company. They are cheap under $0.2 and my opinion is they have endless potential as long as they continue the green and clean push. + +&#x200B; + +\*\*I am by no means a financial advisor and the above are my opinions and personal DD\*\* +Posting on behalf of orphan ape u/s2a4ib🚀🚀🚀 + +“Cant post in SS so here i am. Snoop and dr dre pulled their music from Streaming services + +Hey yall, + +I dont know how to get the word out being a low karma ape. So here i am, havent seen it on Superstonk so posting here for some ape who can spread the word! + +Snoop and Dre pulled death rows music off of streaming platforms and intend on turning their label death row into an NFT label. + +[https://www.billboard.com/business/record-labels/snoop-dogg-dr-dre-death-row-records-streaming-removed-1235043866/](https://www.billboard.com/business/record-labels/snoop-dogg-dr-dre-death-row-records-streaming-removed-1235043866/) + +&#x200B; + + GME is making a NFT marketplace, and we have already known that snoop was somehow involved!” +#MEW has just made more [official statement.](https://twitter.com/myetherwallet/status/988830652526092288) and thus can find that this current situation is "fixed." But please ! do make caution at all times. + +**If you want to learn more about the technical side of this, click [here](https://doublepulsar.com/hijack-of-amazons-internet-domain-service-used-to-reroute-web-traffic-for-two-hours-unnoticed-3a6f0dda6a6f)** + +> Google Domain Name System registration servers were hijacked earlier today at roughly 12PM UTC so that MEW users were redirected to a phishing site. This redirecting of DNS servers is a decade-old hacking technique that aims to undermine the Internet’s routing system. + +>This can happen to any org & is not due to a lack of security on the MEW platform, but due to criminal hackers finding vulnerabilities in public-facing DNS servers. Your security & privacy is ALWAYS priority. We do not store any of your personal details, including keys. + +>Majority of those affected were using Google DNS servers. Affected users likely clicked the "ignore" button on the SSL warning that pops up when visiting a malicious site imitating MEW. MAKE SURE there is a green bar SSL certificate that says “MyEtherWallet Inc [US]” + +>Some advice for our users: run a local (offline) copy of MEW platform. Use hardware wallets to store your cryptocurrencies. IGNORE any tweets, Reddit posts, or ANY messages which claim to be giving away or reimbursing ETH on behalf of MEW. + +>To keep up this fight against this criminal phishing attack, we need our amazing community to support and educate each other - this is an ongoing battle that requires us all to stick together. + +They have also said **that everything [is fine](https://twitter.com/myetherwallet/status/988836522974572544)** + +>It seems that everything is now back to normal, BUT PLEASE STAY SAFE and read/share [this guide:](https://myetherwallet.github.io/knowledge-base/security/myetherwallet-protips-how-not-to-get-scammed-during-ico.html) + +Original Post: + +Official Statement from MEW: https://twitter.com/myetherwallet/status/988787116015415296 +>Couple of DNS servers were hijacked to resolve http://myetherwallet.com users to be redirected to a phishing site. This is not on @myetherwallet side, we are in the process of verifying which servers to get it resolved asap. + +#Answering some common questions. Hardware Wallets should be fine. Use caution for now and DO NOT LOGIN. Please [read the comment here, which is very helpful](https://www.reddit.com/r/CryptoCurrency/comments/8ekfl6/myetherwallet_has_been_hackedbreached/dxvzbe1/) + +There is a couple reports on the MEW sub regarding this: https://np.reddit.com/r/MyEtherWallet/comments/8ek0jj/think_i_got_scammedphishedhacked/ + +MyEtherWallet has been hacked, it looks like a security [SSL mismatch](https://www.ssllabs.com/ssltest/analyze.html?d=myetherwallet.com) which is redirecting you to a different domain. + +Right now it appears that people are being affected via LOGIN only. Do not login, and only view your balances via Etherscan or another explorer. If you need to send and move your funds, use another wallet, like Metamask, for now, or use MEW offline.. + +This post will be updated if more developments are found. + +Edit: [A comment](https://np.reddit.com/r/MyEtherWallet/comments/8ekamx/mew_got_hacked/dxvtkur/) on the MEW sub says that it's an issue with Google DNS. Personally I did not receive a cert warning. I would still wait for announcement. [The hacker's address is still getting ETH.](https://etherscan.io/address/0x1d50588C0aa11959A5c28831ce3DC5F1D3120d29) + +Edit: [here are some more information from r/EthTrader](https://np.reddit.com/r/ethtrader/comments/8ek998/warning_reports_of_myetherwallet_site_compromised/). It provides more links if you want to look into greater detail. + +Edit: Thank you everyone for the clarification. It's a spoof of OpenDNS and not MEW. But the above info still does apply. ~~I will await a further update from MEW, currently they only say they are working on it.~~ It's been updated, check the top! +The title says it all. Crypto is dominated by software engineers who think they are more knowledgeable than they actually are, especially when it comes to fields like economics and finance that are FAAAAR out of their wheelhouse. + +Terra's failure was a failure of economics more than it was a failure of engineering. Even the best software engineers are only as good as their inputs, and they had shitty inputs. They thought they understood supply and demand. They didn't. They thought they were coming up with something new. They didn't. + +The whole Terra/Luna "mint and burn" mechanism is also known by another name in TradFi: the [Death Spiral Bond](https://www.investopedia.com/terms/d/deathspiral.asp). It is such a bad idea that it is only employed by the most desperate of companies because of how easily it can get out of hand. For an industry where innovation and meritocracy are supposedly valued, you'd think someone with even a sliver of influence would have recognized it for what it was and raised warning bells. But describe Terra's mechanism to a single TradFi financial advisor or analyst, and they will politely decline your business and laugh at you when you walk out the door. + +But if you think Terra is the only major crypto project that is deluding itself with overly optimistic assumptions about how economics works, you've got another thing coming. + +That should give you an idea of just how **incredibly** immature this industry really is, how little actual expertise is working on these things, and how much all of it is still in the experimental stage, even so-called "blue chips" like Bitcoin and Ethereum. + +Even Satoshi was a terrible economist. He thought Bitcoin would make for a good digital cash, and it ended up turning into something no one wants to spend ("HODL!") because everyone's too afraid it'll moon the next day. That makes it an objectively bad currency. And Bitcoiners are not alone in this. If you've ever praised "deflationary tokenomics," you're guilty of it, too. + +Compounding ALL of that is the fact that the crypto industry **as a whole** is less than 15 years old. Ethereum is barely seven years old. And DeFi is less than two years old. Even the guys who invented Solidity don't have a decade's worth of experience in the language. + +I'm not being anti-crypto, I'm just being realistic. I'm still invested (\~10% of my liquid net worth) and still DCAing. But fuuuuck, I can't wait until this community gets its head out of its own ass about how "innovative" crypto is and how it will eat the TradFi industry, and just focus on building good and functional products instead of turning into moral philosophers about economics and politics. +It's looking brutal for both of the big Chinese names. The education stocks we of course have to dismiss from the get-go, they're done. However the jury is still out on BABA and Tencent. This can be a generational buying opportunity if China lets them do business somewhat freely even after the crackdown. Tencent music is hard to evaluate with the forced streaming rights thing, but it's a separate ticker from Tencent (TME vs TCEHY). + +Personally I bought a 2023 LEAP on BABA at 186, thinking it was a great buy. We are down even further now, and Baba is dancing around very crucial moving averages. I also opened a long day trade on Tencent since their earnings are tomorrow. Guidance will matter a LOT, but the stock is down so much that the previous quarter earnings will possibly be outstanding in relation to their current stock price, allowing for a nice day trade. + +However, the uncertainty absolutely cannot be overstated. What do you think? Are you biting yet? +Hello all. I recently listened to a podcast centered around early retirement for men and women in the trades. There were points made about the solid income/earning potential of tradespeople (particularly those who own their own company) that would make it seem like a sure way to accomplish a high net worth, and be able to retire early, but that it just doesn't happen as much as one might would expect. + +I am 26 years old and 15 months into a 5 year plumbing apprenticeship and am loving it! I see those around me (both employees and owners of their own plumbing/heating business) doing very well in terms of income. The potential for supplemental income through side work outside of the 40hr/week can not be understated. + +Most people I see and have met who are into the idea of early retirement are mostly of the tech/corporate world, so was just looking to hear from those who have chosen this career path. If have achieved FIRE what was your path like? Did you start your own company as soon as you were fully licensed and insured? Did you ride it out with your company to maximize retirement account matches while building your side business to stand on its own legs? Did you find it easier/harder than you expected? It's no secret that the trades can wear you down - physically and mentally so although I'm far from doing my own thing I'm just trying to wrap my head around what others experiences have been like. Thanks! + +TL;DR : currently an apprentice plumber in new construction/remodels in a pretty booming market, curious to hear about other tradespeoples fire journey. + +EDIT: this is a link to the podcast for those interested - I would basically double any numbers they use. At least in my trade/market rate + +https://open.spotify.com/episode/7accRAGtW0cNqTJt6rs6vt?si=1Bkw6sT4QNiM2k_8wfh4CQ +TL;DR: I believe SHFs and enablers are in a liquidity squeeze; they are liquidity tested on the hour during the trading day; they are making a special effort to keep the price down – even if only a little bit – on the hour marks to get some wiggle room on liquidity tests, avoid margin calls and MOASS. (resurrected from early versions of this daily post) + +After a day of sideways trading, the price ended in the green after the power minute frenzy. Looks like that tuckered everybody out, as there is almost no action in the after-hours first 30 minutes. + +The pattern of price dips on the hour is strong and consistent, and back in effect today. + +1 pattern break at 1 p.m. + +9:30 a.m. $213.17 open + +9:57 a.m. down $206.72 (Hella dip $6.45 drop pretty much continuous from the open – couldn’t quite hold it to 10 a.m.) + +10:30 a.m. up $211.54 (dip in downtrend) + +11:02 a.m. up $211.57 (dip – no volume at 11:00) + +11:30 a.m. down $211.00 (in uptrend) + +12:01 p.m. up $213.31 (dip splitting a peak for one minute – up $0.74 a minute later) + +12:30 p.m. up $213.48 (peak) + +1:00 p.m. down $213.38 (Pattern Break – in uptrend) + +1:30 p.m. down $212.57 (small peak) + +1:59 p.m. down $212.31 (micro dip) + +2:30 p.m. down $211.36 (dip) + +2:57 p.m. up $211.59 (dip – soon overcome by start of power hour run-up for about 15 minutes) + +3:30 p.m. up $212.94 (in uptrend) + +4:00 p.m. up $213.52 close + +On the graphic, purple lines are on the hour dips, grey are on the hour breaking the pattern (one today), and the orange dotted lines are on the half-hours. + +https://preview.redd.it/e595xbo8p5l71.png?width=1232&format=png&auto=webp&s=e491f7c5b0750c6cb876bcda84b6769f05c103f5 + +For a while now, there have been hourly liquidity tests for the hedge funds and their enablers. If they fail a liquidity test, they have an hour to make good on that. Based on looking at the data, I think those tests are run on or very close to the top of the hour. I think the SHFs know that (they have better data and analysts than I do). So, they push the GME stock price down in time for the liquidity tests, even more than for other times of the trading day. It's extra effort, so is it worth it? Let's suppose the SHFs and friends are on the wrong side of half-a-billion FTDs, shorts, naked shorts and other shorting fuckery. Knocking the price down a couple of bucks for test time gives another $1 billion in cushion, and likely avoid having to sell other assets to cover the liquidity test numbers. Six times per trading day. Dumping a few 10s of 1000s in to maintain the cushion likely looks like a good deal to them. + +Originally, people said the pattern isn't real. Well, there's more than a month of these posts now that say the pattern is real. Not infallible - sometimes I think the opening enthusiasm each day can overwhelm the 10 a.m. test, and there are days like yesterday where the run up seems to overwhelm other hours as well. But the pattern is strong. + +Now, I'm watching for the days – like Sept. 1st - where the pattern breaks down, because that may mean the SHFs are losing control of the game. + +Love the daily downvotes, it likely means somebody out there is uncomfortable with this information getting out. Just a guess, judging by how fast the downvotes come, some are waiting for this post to slam it. +whats up apes! + +I’m here on a sunday afternoon chilin w my baby apes. we are nsavoring these future tendies. anyways back to the topic. i came across some information regarding Citigroup that could be crucial information that needs more eyes. if they are short GME then this could be interesting in regards the current US financial economy. + +some basic info froom 2008 - Citigroup was the largest bailout from the feds. THE LARGEST. + +heres an article about it: + +&#x200B; + +https://preview.redd.it/m60aix3cvwe81.png?width=1368&format=png&auto=webp&s=73d2b8ebee849eef31b44139d880e0d78f0455c8 + +&#x200B; + +[https://money.cnn.com/2008/11/23/news/companies/citigroup/index.htm](https://money.cnn.com/2008/11/23/news/companies/citigroup/index.htm) + +before the bailout, they unloaded more than 400B in assets to “get fit”. here is an article about it: + +&#x200B; + +https://preview.redd.it/403rlpelvwe81.png?width=1346&format=png&auto=webp&s=3779d45455869628985f6a23a01736865b6c1c53 + +[https://money.cnn.com/2008/05/09/news/companies/citigroup/](https://money.cnn.com/2008/05/09/news/companies/citigroup/) + +crazy how they escaped bankruptcy. they got bailed out, stock plummeted and guess who shows up to save the day? duh Feds. + +which comes back to the Plunge Protection Team. they were created to stop the market from failing. previous post i shared goes a bit more into detail (mods censored my post due to “monetizing” not my video first off, was just sharing cause i believed the info within it needed more eyes and wrinkles) + +there are more apes doing more research on the plunge protection team ( i would hope) + +back to Citigroup. they were at the verge of collapse back in the 2008 crisis. is the same thing might be happening now? + +looks like Citigroup might be on to selling assets again to “get fit” but i haven’t seen much information about it on SuperStawnk. + +&#x200B; + +[looks like theyre preparing a sell out](https://preview.redd.it/g7zfklxrvwe81.png?width=2536&format=png&auto=webp&s=011a12025526d6176e55b5a714d03e0bb5c5a925) + +&#x200B; + +https://preview.redd.it/mim7plwzvwe81.png?width=1086&format=png&auto=webp&s=d18289e95c7a318944d2c0351572d4cee7e84086 + +&#x200B; + +https://preview.redd.it/shl4edj2wwe81.png?width=1106&format=png&auto=webp&s=7003c6f3551591710529ec1273e7e0e9d5a97bc8 + +sources: wawll stweet on pawade (couldnt directly link the sources as mods prohibit info from there but i thought this was pretty interesting if anyone wants to chime in ) + +THE same douchebag who almost bankrupted citigroup IS STILL IN CHARGE LMAO + +CANT TEACH A OLD DOG NEW TRICKSS LMAO + +what i dont know is if Citigroup is short GME? + +seeing that the feds are growing tired of this goon, would the Feds this time around not bail them out? could it be possible they say FUCK EM and let them go under? or will the Plunge protection team once again save this POS. this mf has sold more derivatives than a mf. + +&#x200B; + +[january 2020 they started selling CDS ](https://preview.redd.it/ngtb6jqaxwe81.png?width=1050&format=png&auto=webp&s=1ca2d8fecc80e565d908d2445be4e700b155f00b) + +the real question which correlates to GME is if they are short and the feds do NOT bail them out, could they get triggered to a margin call and set off more dominoes??? + +currently looking into more banks, apes feel free to discuss and criticize if it doesnt belong belong in this sub mods free to delete + +need more eyes on these banks that hold our money!!!!!!!!! + +TLDR + +citigroup is selling their shit again just like in 2008 . could them cashing out mean their end is coming? if theyre short GME would it help trigger the moass?? +The trade war with China will create uncertainty which will hurt economic growth. However, China is not likely to sell U.S. treasuries despite what some media outlets claim. If China sells treasuries and then dollars, it would put downward pressure on the dollar index which would help America. It could also cause treasury yields to fall in a flight to safety trade as growth would slow and uncertainty would rise. As you can see from the chart below, uncertainty is a large component of the potential effect of the trade war on GDP. + +[Tariff Effect ](https://i.imgur.com/EKE9TQm.jpg) + +[Will The Fed Cut Rates In 2019?](https://upfina.com/will-the-fed-cut-rates-in-2019/) +Looking to salary sacrifice to maximize my contributions but unsure what the outcome will be as getting different results with different calculators. + +I earn $95k incl Super, monthly net take home is $5,570. + +To reach the $27,500 limit, I would have to contribute a further $18k. + +The [AMP Calc](https://www.amp.com.au/calculators/sal_sac_calculator/salary_sacrifice.htm#top1) shows I’ll *increase* my monthly income by $291 per month after the extra contributions but putting the exact same figures into the [Sun Super calc](https://www.sunsuper.com.au/learn/tools/contributions-calculator) says I’ll have about $1k *less* per month in my take home. + +Which one is correct?! +I just got into Ethereum trading, wouldn't even call it 'trading', just buying with a view to hold on for the long term, and thought I'd dip in my toes with an initial investment worth half a month's salary with a view to keep adding 10-15% of it per month depending on the price and was wondering what kind of investments all you guys are making? + +-edited after advice not to disclose actual sums of money and use % instead +Welcome to the **/r/EthTrader** Daily Discussion thread. The thread guidelines are as follows: +*** + +- Discussion topics include, but are not limited to, general discussion, details related to events of the day, technical analysis, and minor questions. +- Do not create separate posts outside the daily thread which can be identified under the content categories mentioned above. If you do, your post may be removed and/or heavily downvoted. Important content should be posted as a separate thread. +- Be excellent to each other. + +*** + +Thank you in advance for your participation. Enjoy! +OP for this post is https://www.reddit.com/user/infinitelimits00/ and he posted this on r/options + +Let’s talk about the reverse gamma squeeze (should also really be known as a charm-gamma squeeze)...plus this is an r/options sub anyways so might as well introduce charm. + +So I see a lot of people think they know what a gamma squeeze is lately from GME. And yea what most people are saying is correct, but what they don’t understand is gamma works in two directions. The defining feature of any stock that has undergone a “true” gamma + short combo squeeze is that when it drops, it NEVER makes a V-shape recovery. See KODK, QS, HTZ, NKLA, TLRY from years ago, even BYND from years ago. I mostly like to go long stocks since stocks usually go up anyways, but I do like calling tops of stocks for fun (see my post history - I got QS exactly right and HTZ by 1 day, also got ZM and SNOW perfectly right in my comments history). I’m not calling the top for GME, but I just want to introduce the concept of what happens when a gamma squeeze fails, since the reverse is nasty. + +So the gamma squeeze idea that most people have is say the next week the 100 GME call is like 20 delta (just estimating to make it easier). If some random person bought a 20 delta call from a MM, the MM will buy 20 shares to stay delta neutral and this happens over and over again over the course of the day, and the idea is this will cause the stock to skyrocket if enough people buy these calls. However, here’s the part that’s important. If some news came out or if just GME never moves much, those calls decay in delta, called charm. So those 20 delta calls -> 0 delta and the MM has to then SELL back those 20 shares, suppressing the stock. The delta of options change with time too, not only with underlying price. + +That is one problem people never mention when they think gamma squeezes or an infinite cycle. But the other real issue is MM are already short ITM calls which they have like close to +100 shares hedged agains those short nearly 100 delta calls per option. If the stock ever dropped through these long call strikes, those calls go from nearly 100 delta at one point to < 50 delta, which means MM need to sell 50+ shares/options to keep delta neutral. They would keep selling more and more if it continues to drop and stays below those previously long strikes. That’s often times why the downside puts are so expensive on these names because MM also can’t blindly sell those, known a reverse gamma squeeze would cause these stocks to potentially go down 20% in a day. + +Anyhow, I wanted to explain the reverse gamma squeeze since gamma is bidirectional. This is why when stocks that undergo this gamma + short squeeze rise and then suddenly drop, they NEVER recover. How many zig-zag recoveries have you seen in these stocks? That’s actually the defining feature of a stock that has undergone a gamma squeeze. It’s when it reverse gamma squeezes, it’s over. Good luck with your GME plays. Like I said, I like calling tops just for fun since it’s more interesting anyways. I’ve done it with a bunch of names in the past. I don’t really have a feel for GME, but the only thing I know is if it ever has a big down day, it’s most likely over and you’ll actually rather sell that day then baghold or buy the dip (which goes against the conventional thinking, but is actually the defining characteristic for true gamma squeeze stocks). +Long time lurker, first time poster here. I'm currently a Director at a pre-IPO startup that is planning on going public shortly, and am almost fully vested after being here for 4 years. I'm super invested in the company, love the product, and think about it all the time, and love this space overall. Have been also a key foundational member in building out the entire team here, and have a ton of internal reputation having been here when the company was 5% of the size that it is today. However, mobility internally upwards will be very slow given the direction of the company and where things are being focused on. + +I always considered myself to stay here for at least another 3-5 years, but was recently approached by a Series C startup that has also been on fire for a VP+ role. Went through the interview process and the scope is much larger and the equity compensation is almost 10x the amount of what is remaining left for me to vest at my current company. The functional work is interesting to me, but the space isn't necessarily, but the amount of equity that is being offered in this role makes me wonder if I would just be making a huge financial mistake if I didn't take it since it would definitely accelerate FatFIRE. + +I love my current team and it makes me sad to think about potentially leaving, and also for the existing cross functional teams that I've built relationships with over the years. It is of course possible to recruit some of them and bring them over to the new role, but part of me wonders if I won't enjoy the same work given that the space is less interesting. + +I did also want to at least stay through to the IPO - which itself should bring me from $1M NW to somewhere between $3-5M NW depending on how we do in the public markets. It makes me not necessarily need to make a move, but this move could be the difference between a $3-5M NW and a $15-50M NW depending on how this other role shakes out. I don't want to miss out on the opportunity and of course compensation after 4 years of vesting is much lower, but I'm also someone who traditionally doesn't make many moves across companies since I really do buy in to the mission. Curious if anyone has gone through a same kind of decision making and how you thought about it. +I get the feeling that this sub is generally less focused in the RE portion of FIRE than the other FIRE subs on reddit. How true is this? Are you looking forward to RE as much as for FI? What is your main motivation to reach FatFIRE? + +Edit: clarity +Hi all... Possibly asked and answered before but I haven't found it. + +I'm 42 and own a pretty successful IT managed service provider. + +My success has really catapulted over the last 3 years. I'm divorced with two children in middle school. + +Currently making $2.5mm to $3mm annually as of now with the business currently having a value of about $20mm-$25mm if I sold. + +Have about $3mm in investments with an advisor that I've been with since I didn't have much. + +I live in a house on Long Island worth about $1.3mm that's half paid off. + +I live a bit of a lavish lifestyle between clothes, car, travel boating etc but certainly within my means and stashing $$ comes first. + +My question is this... + +I want to find a person/advisor/firm that can offer me a variety of management and benefits such as... + +Savvy investment service +Better money management +Help acquiring real estate and maybe creating new streams of income +Help acquiring art, collectibles etc... +Concierge Services for hard to get reservations, travel etc that's effective. +Perks like events, concerts etc as a benefit to my banking, investments, etc...(I assume this is possible) + +I've always been a believe to stick to what you are good at. I'm great at making money but knowing what to do with it is not my strong suit. + +I'd sell and retire if I could maintain my lifestyle but I don't think I'm there yet. The goal is to get there. + +How should I go about finding the right whatever you want to call it to help me achieve the list of what I'm looking for? Maybe in one place or maybe it doesn't exist. + +Not looking for a miracle but hopefully a group of professionals in one place or separate places that know what they are doing. + +Thoughts on this would be great. + +Thanks everyone in advance. +This is part of Bernie's plan to get the nation on a single payer healthcare system. + +"SEC. 4475. TAX ON SECURITIES TRANSACTIONS. +“(a) Imposition Of Tax.—There is hereby imposed a tax on each covered transaction with respect to any security." + +https://www.congress.gov/bill/113th-congress/senate-bill/1782/text#toc-H58F2F679095A4365B60E223EE2A4CDBD + +I'm assuming this would affect high frequency traders the most? +On Monday, if the price stays as high as it has been, ASRT will have stayed above $1 for 10 consecutive days and will fufill the NASDAQ 10 day compliance rule. After this point, the price will fly. My short term PT is $3 or more (>100% gains). Just wanted to let you guys know so you can purchase some at a good price if you wish to get some now. + +Great DD here - [https://www.reddit.com/r/pennystocks/comments/li77a1/asrt\_good\_short\_term\_play/](https://www.reddit.com/r/pennystocks/comments/li77a1/asrt_good_short_term_play/) + +Current price $1.12 + +I have 355 @ $1.16 + +Of course, do your own research, I am not a financial advisor. See you on the moon! +Holders I love you and you are just as important. + +I’d like to add to my post earlier this week and ask how many shares you bought this week, and this week only! Please be honest with your answer, and the broker doesn’t matter. Numbers only! Let’s build each other up with our persistence! +My work consist of taking a block of stones, usually marble or Granite and sculpt a chain out of it and separating the individual links so that they are flexible. I explain this work a study on the concept of the Bond. whether it be emotional, physical or technological. I initially got this idea a few years ago when I was introduced to Bitcoin. + +&#x200B; + +The idea of the blockchain always stayed with me and I wanted to portray this concept in a physical form. Hence the Block that becomes a chain. The fact that the individual links are sculpted and not added is my way of showing the immutability property, you cannot remove the links once they are sculpted. + +&#x200B; + +I recently won this competition to make a public sculpture to be placed in the most important neighborhood in Geneva. + +The sculpture will be a Gigantic Stainless steel chain and I will put forward the ideas of the bonds and blockchain. + +This is kind of a big deal for me and for the community in a sense and I wanted to share with the world. The piece will be placed in January I believe. + +You can follow my instagram @cedric\_koukjian + +Mods can contact me for verification if needed + +&#x200B; + +\[Donation link removed as per MODs request\] + +&#x200B; + +Thanks, + +Cedric + +&#x200B; + +&#x200B; + +&#x200B; + +[The initial concept](https://i.redd.it/8vsk4mmal2831.jpg) + +[CAD drawing](https://i.redd.it/d6khrdmal2831.png) + +&#x200B; + +[polishing](https://i.redd.it/8uibvj7jl2831.jpg) + +&#x200B; + +[Positioning of the chain](https://reddit.com/link/c8mtf2/video/cy78v29ol2831/player) + +&#x200B; + +[Soldering](https://i.redd.it/fomeb34rl2831.jpg) + +[Hand hammering](https://i.redd.it/gv13y34rl2831.jpg) + +[Sketch](https://i.redd.it/kumbsx3rl2831.jpg) + +&#x200B; + +[Black marble](https://i.redd.it/pkw9l8qem2831.jpg) + +[White marble](https://i.redd.it/vjy5q2qem2831.jpg) + +&#x200B; + +&#x200B; + +&#x200B; + +[Black marble 11 links](https://i.redd.it/wfgztvdkm2831.jpg) + +[Black marble 7 links \(my favourite\)](https://i.redd.it/24iqp0ekm2831.jpg) + +[Granite](https://i.redd.it/6jp4d8ekm2831.jpg) +Apes across the world have introduced DRS transfer services to many non-US brokers, we are making the change we want to see in the world already and it's incredible to witness! + +Nearly 4 months have passed since I started the broker list and a lot has changed. If anything in my post is outdated I would be forever greatful if you could reach out and let me know. Here's the list: + +[https://www.reddit.com/r/Superstonk/comments/ppb8u6/the\_drs\_list\_mercy\_mercy\_me\_gme\_aint\_where\_it/](https://www.reddit.com/r/Superstonk/comments/ppb8u6/the_drs_list_mercy_mercy_me_gme_aint_where_it/) + +If there's nothing new to take away from my post, then just know I appreciate you ape, I really do :) + +&#x200B; + +P.S. There's still some controversy over DRS'd IRA accounts and what the point of them is if they don't remove the shares from the DTC. I've presented all the info on it I can, but it's not a recommendation to do it. It's my Hope that with the facts you can make a more informed desicion. +Honestly, for as crypto focused as many here can be I'm a bit surprised nobody posted this yet, perhaps because it doesn't appear to be great news for the more anti government focused members of the crypto community. + +Link: https://www.sec.gov/news/public-statement/gensler-aspen-security-forum-2021-08-03 + +Noteworthy Excerpts: + +> Let me start at the beginning. + +>It was Halloween night 2008, in the middle of the financial crisis, when Satoshi Nakamoto published an eight-page paper[1] on a cypherpunk mailing list that’d been run by cryptographers since 1992.[2] + +>Nakamoto — we still don’t know who she, he, or they were — wrote, “I’ve been working on a new electronic cash system that’s fully peer-to-peer, with no trusted third party.”[3] + +>Nakamoto had solved two riddles that had dogged these cryptographers and other technology experts for a couple of decades: first, how to move something of value on the internet without a central intermediary; and relatedly, how to prevent the “double-spending” of that valuable digital token. + +>Subsequently, his innovation spurred the development of crypto assets and the underlying blockchain technology. + +>Based upon Nakamoto’s innovation, about a dozen years later, the crypto asset class has ballooned. As of Monday, this asset class purportedly is worth about $1.6 trillion, with 77 tokens worth at least $1 billion each and 1,600 with at least a $1 million market capitalization.[4] + +/ + +>We already live in an age of digital public monies — the dollar, euro, sterling, yen, yuan. If that wasn’t obvious before the pandemic, it has become eminently clear over the last year that we increasingly transact online. + +>Such public fiat monies fulfill the three functions of money: a store of value, unit of account, and medium of exchange. + +>No single crypto asset, though, broadly fulfills all the functions of money. + +>Primarily, crypto assets provide digital, scarce vehicles for speculative investment. Thus, in that sense, one can say they are highly speculative stores of value. + +>These assets haven’t been used much as a unit of account. + +>We also haven’t seen crypto used much as a medium of exchange. To the extent that it is used as such, it’s often to skirt our laws with respect to anti-money laundering, sanctions, and tax collection. It also can enable extortion via ransomware, as we recently saw with Colonial Pipeline. + +>With the advent of the internet age and the movement from physical money to digital money several decades ago, nations around the globe layered various public policy goals over our digital public money system. + +/ + +>The SEC has a three-part mission — to protect investors, facilitate capital formation, and maintain fair, orderly, and efficient markets in between them. We focus on financial stability as well. But at our core, we’re about investor protection. + +>If you want to invest in a digital, scarce, speculative store of value, that’s fine. Good-faith actors have been speculating on the value of gold and silver for thousands of years. + +>Right now, we just don’t have enough investor protection in crypto. Frankly, at this time, it’s more like the Wild West. + +>This asset class is rife with fraud, scams, and abuse in certain applications. There’s a great deal of hype and spin about how crypto assets work. In many cases, investors aren’t able to get rigorous, balanced, and complete information. + +>If we don’t address these issues, I worry a lot of people will be hurt. + +>First, many of these tokens are offered and sold as securities. + +>There’s actually a lot of clarity on that front. In the 1930s, Congress established the definition of a security, which included about 20 items, like stock, bonds, and notes. One of the items is an investment contract. + +>The following decade, the Supreme Court took up the definition of an investment contract. This case said an investment contract exists when “a person invests his money in a common enterprise and is led to expect profits solely from the efforts of the promoter or a third party.”[6] The Supreme Court has repeatedly reaffirmed this Howey Test. + +>Further, this is but one of many ways we determine whether tokens must comply with the federal securities laws. + +>I think former SEC Chairman Jay Clayton said it well when he testified in 2018: “To the extent that digital assets like [initial coin offerings, or ICOs] are securities — and I believe every ICO I have seen is a security — we have jurisdiction, and our federal securities laws apply.”[7] + +>I find myself agreeing with Chairman Clayton. You see, generally, folks buying these tokens are anticipating profits, and there’s a small group of entrepreneurs and technologists standing up and nurturing the projects. I believe we have a crypto market now where many tokens may be unregistered securities, without required disclosures or market oversight. + +>This leaves prices open to manipulation. This leaves investors vulnerable. + +>Over the years, the SEC has brought dozens of actions in this area,[8] prioritizing token-related cases involving fraud or other significant harm to investors. We haven’t yet lost a case. + +>Moreover, there are initiatives by a number of platforms to offer crypto tokens or other products that are priced off of the value of securities and operate like derivatives. + +>Make no mistake: It doesn’t matter whether it’s a stock token, a stable value token backed by securities, or any other virtual product that provides synthetic exposure to underlying securities. These products are subject to the securities laws and must work within our securities regime. + +>I’ve urged staff to continue to protect investors in the case of unregistered sales of securities. + +>Next, I’d like to discuss crypto trading platforms, lending platforms, and other “decentralized finance” (DeFi) platforms. + +>The world of crypto finance now has platforms where people can trade tokens and other venues where people can lend tokens. I believe these platforms not only can implicate the securities laws; some platforms also can implicate the commodities laws and the banking laws. + +>A typical trading platform has more than 50 tokens on it. In fact, many have well in excess of 100 tokens. While each token’s legal status depends on its own facts and circumstances, the probability is quite remote that, with 50 or 100 tokens, any given platform has zero securities. + +>Moreover, unlike other trading markets, where investors go through an intermediary like the New York Stock Exchange, people can trade on crypto trading platforms without a broker — 24 hours a day, 7 days a week, from around the globe. + +>Further, while many overseas platforms state they don’t allow U.S. investors, there are allegations that some unregulated foreign exchanges facilitate trading by U.S. traders who are using virtual private networks, or VPNs.[9] + +>The American public is buying, selling, and lending crypto on these trading, lending, and DeFi platforms, and there are significant gaps in investor protection. + +>Make no mistake: To the extent that there are securities on these trading platforms, under our laws they have to register with the Commission unless they meet an exemption. + +>Make no mistake: If a lending platform is offering securities, it also falls into SEC jurisdiction. + +/ + +>Before I conclude, I’d like to note we have taken and will continue to take our authorities as far as they go. + +>Certain rules related to crypto assets are well-settled. The test to determine whether a crypto asset is a security is clear. + +>There are some gaps in this space, though: We need additional Congressional authorities to prevent transactions, products, and platforms from falling between regulatory cracks. We also need more resources to protect investors in this growing and volatile sector. + +>We stand ready to work closely with Congress, the Administration, our fellow regulators, and our partners around the world to close some of these gaps. + +>In my view, the legislative priority should center on crypto trading, lending, and DeFi platforms. Regulators would benefit from additional plenary authority to write rules for and attach guardrails to crypto trading and lending. + +>Right now, large parts of the field of crypto are sitting astride of — not operating within — regulatory frameworks that protect investors and consumers, guard against illicit activity, ensure for financial stability, and yes, protect national security. + +>Standing astride isn’t a sustainable place to be. For those who want to encourage innovations in crypto, I’d like to note that financial innovations throughout history don’t long thrive outside of our public policy frameworks. + +>At the heart of finance is trust. And at the heart of trust in markets is investor protection. If this field is going to continue, or reach any of its potential to be a catalyst for change, we better bring it into public policy frameworks. + +I know when Gensler was appointed there was much hope that he would take a very soft line on crypto markets, it would seem that he is laying out firm intention at this point to pursue fraudulent and misleading offers heavily. Obviously nobody knows what this will look like in practice, but I'm sure anyone who's been paying attention to that space long enough has seen a few coins that ended up being scams of some sort. +We’ve all seen them. A community for a coin that has a cult like following for a project that is just, not going anywhere. + +Either it suffered a rugpull, or has no utility, or the larger crypto space just doesn’t care about it anymore, this community just won’t give up on it. + +More than that, their extremely bullish for the future, with no logical reason that’s grounded in reality. + +Does a name pop into your head? + +Does this sound like any community you know? + +Which community gets your vote for their foolish but unwavering faith? + +My vote, very honestly, has to go to the folks at Bitcoin Cash, who are still excited about a project that no one else seems to be at all. They forked and have never returned to their all time high. It just seems like their legacy keeps them even slightly relevant, but they are still sure that they’re going to change the world. + +Edit: Y’all need to give explanations. I need reasons! +I live in BC canada and they raised taxes by 4% on incomes over 220k today. + +This is the 3rd raise in 5 years between provincial (2 times) and federal (1 time) for approximately an 8% increase in income tax. + +My marginal tax rate is now 53.5% + +The feds are gonna release a new budget next month and there is a good chance they raise taxes again on “the 1 percent” + +At what point would you say fuck it and work less? +Hi guys, +I recently saw someone asking why some traders here only post their daily watchlists but never about new trade opportunities. + +I would like to explain you why: + +There s simply no upside to doing such a thing. + +If the trade works, they might get a thank you but that s about it. + +On the other hand, if the trade fails, he will get crucified by the ones who took the trade and mocked by the ones who sat on their hands. + +And in either way, there will be people trying to find anything they can in his post to negate him in order to get validation from others in the form of fictitious points. + +I hope this clears this out. This actually happened to me recently.. lesson learned. + Hello all! + +I think the sickness is just about gone finally, I will be monitoring myself this week to be doubly sure, but I think I am ok now! + +# Key Statistics (Overall) + +NOTE: I am using TradesViz which is so fantastic HOWEVER, the win rates are calculated based on trades and not executions. For instance, if I trade the same ticker over and over again, and have a 70% win rate on those trades BUT I have one big bad losing trade that counters all of the wins, it will appear as a 0% win rate. + +Again, reminder that the overall data is going to take quite some time to balance out as the first several weeks served as a testing period where I would do a lot of 1 share and very low leverage trades in an attempt to practice my strategy and the usage of the software. I would focus more on my weekly statistics to gauge my progress so far. I imagine by the end of this year, my overall statistics should be balanced. + +Account Net Worth: $64,417.23 (I took a $10,000 draw, I am going to try to make this last me 3 months. I shouldn't need to take another draw until late summer/early fall. The next goal is to pay down the remaining debt I have before I begin focusing on the tax bill.) + +Unrealized P/L: $596 + +Realized P/L: $19,957.91 + +P/L % Change: 13,906% + +Average P/L Per Day: $399.16 + +Win Rate: 60% + +Profit Factor: 3.714 + +**Positions:** + +GME Long 20 229.22 (Total gamble on a meme stock, will be closing this week) + +PTRA Long 2313 17.09 (Will continue to add to this company as it's my only investment) + +AMC Long 200 62.71 (Total gamble on a meme stock, will be closing this week) + +https://preview.redd.it/x00adbi8x1871.png?width=1340&format=png&auto=webp&s=387a65b0d198fb24725e739d8676c7162b81ef8a + +https://preview.redd.it/6wwc0u0bx1871.png?width=1353&format=png&auto=webp&s=690ab5be7b27ce527fc7a5ad370a52f7efa2477a + +https://preview.redd.it/kcvctlofx1871.png?width=1336&format=png&auto=webp&s=87e00caea817b8a2a139e53ce0058b130c6f66ba + +https://preview.redd.it/khw661vhx1871.png?width=1261&format=png&auto=webp&s=ecc2afd2c6175cb79ac515f14cf7c440e538ba83 + +https://preview.redd.it/u6w7eqbjx1871.png?width=1256&format=png&auto=webp&s=71e7ac24f2a9ad83607af534d43d5c258441b7c3 + +# Week 12 + +Well, this week...was just sad. I was on fire all week and it wasn't until Friday that things went south. Not even a bad day, it was literally one bad trade the entire week that sent me way, way back, but boy did I learn some hard lessons this week. You're going to look at the P/L now and not think much of it...I encourage you to look at each day and then Friday. + +P/L: ($215.50) + +Win Rate: 79% + +[Monday 06/21](https://www.tradesviz.com/viewday/IDp1H4fr) + +P/L: $521.15 + +Win Rate: 100% + +[Tuesday 06/22](https://www.tradesviz.com/viewday/l5trRHD5) + +P/L: $649.47 + +Win Rate: 83.33% + +[Wednesday 06/23](https://www.tradesviz.com/viewday/TnMXVoQN) + +P/L: $466.40 + +Win Rate: 100% + +[Thursday 06/24](https://www.tradesviz.com/viewday/vO3uS927) + +P/L: $1,011.86 + +Win Rate: 80% + +[Friday 06/18](https://www.tradesviz.com/viewday/ibXVGehf) + +Win Rate: 0% (Like I mentioned before not really, win rate is based off of trades not executions) + +P/L: ($2,864.38) + +Well, this was unfortunate. I was having a fantastic week and I wasn't even using a ton of leverage. Friday, I decided to short SPCE after the FAA news came out and I was up around $750. I should have stopped there. I decided to take one more short position and it was in profit for a little, then it started moving against me and I kept moving my stop because we were just below VWAP and the assumption was all the volume was used on the selling side today, there won't be enough juice to break this back up. + +I was so, terribly wrong. + +Which is extra depressing because I have been calling this catalyst out for months now and not only did I not get to play into it, I played against it and payed the price. It did indeed break VWAP, in fact, it exploded through it and I ended up taking a $4,612.60 loss on that one trade. + +I started chipping away at it as quickly as I could but for some reason I couldn't switch from bear to bull mentally. At any rate, I got it down to around (2,400). I decided to take up one more big trade to try to get myself to a break even on the week and I lost another $1000 or so. + +I decided it was time to walk away and I did, especially since I was headed home to PA to visit for the weekend. I couldn't shake what happened and did something really stupid that ended up paying off...I started trading from my phone on the road. No need to lecture me, I know how incredibly dangerous and stupid this is but I certainly was not in the right state of mind and I did it anyways. + +I was able to make back around $700 this way getting my final P/L and losing $215 on the week. + +Not the worst outcome for a very important lesson, but still I could have had another incredible week and would be up around $14,000 on the month. For those who don't know, yes, I am beginning Week 13 of this journey, but I haven't really been using much leverage until June so most of my earnings are because I actually started trading this month instead of just training. + +# Psychology + +Well, I had to revisit [Zalesky's 25 point mantra](http://www.r-5.org/files/books/trading/schoolbooks/Douglas_E_Zalesky-The_25-point_Mantra-EN.pdf) and remind myself of several, very important rules: + +\#4 Never turn a winner into a loser + +\#5 Your biggest loser can't exceed your biggest winner + +\#10 Get out of your losers + +\#12 Don't hope and pray, if you do, you will lose + +\#17 Never take big losses, only a big loss can hurt you + +\#19 Hit singles, not homeruns + +What otherwise could have been a fantastic week went to shit on one trade. Not one day, not one week, one trade. This definitely hurt, not only because of the pain of losing, but what's worse is this was the catalyst I have been going on about that would send this thing to the next level. + +I also noticed a huge problem with rule #12. When you do find yourself hoping and praying, it fills you with hopium that the trade will come back for you. This is bad for obvious reasons, but the less obvious reason is what I experienced and have learned from. + +When you are filled with the hopium, it becomes exceedingly more difficult to switch roles. + +If you convince yourself that the trade will come back for you, it makes you blind to the fact that it is clearly moving the other way and if you just switch hats, then you can make back your loss and profit. + +By the time I decided to go long and not just scalp the run was virtually over. If I was able to recognize sooner that the trade was not coming back for me, not only would I have taken a smaller loss, but I would have had massive gains by reversing. This is something I intend on working on quite diligently. + +# Software + +I'm still absolutely loving TradesViz as my journaling software. I love this software and the company is fantastic. I am a big fan of monitoring my progress weekly and monthly and offered a suggestion and this is the second suggestion they have taken from me! They really do want to be the go to for journaling software and their customer service shows that through and through. So the new feature they added was a weekly tracking of P/L. On their main Daily Statistics page, if you filter by the week its not going to capture swing trades or anything opened before the date range you select, it will only show what is closed. So now in the calendar view it shows your weekly/monthly results. I will add another image here for you to see: + +[Calendar View](https://preview.redd.it/4y4bq0o542871.png?width=1303&format=png&auto=webp&s=a192dfe5c7f1f5223177ef6caf2d098a31633b41) + +[Summary Page \(It's literally right underneath the calendar\)](https://preview.redd.it/c57a3fv842871.png?width=262&format=png&auto=webp&s=10a8d99584eaa5a0319dee3bcfd3af6961538bb5) + +I'm still using TradeStation and the more I play with it the more I fall in love. I haven't tried many different pieces of software in terms of daytrading but with the ones I have tried this is without a doubt my favorite. + +**TL;DR:** Time to bring back some of my discipline, this very giving market has made me take on a lot of unnecessary risk. I was getting away with it for a while but I now have paid the price and do not intend on paying the price again. +Anyone else trade the first 15 minutes then call it a day? I exclusively trade SPY, past several weeks I’ve been entering positions at open, usually puts. Today I bought SPY 360p’s at open for .94 and sold 1 minute later for 1.25. Too good to be true? +After the news on Thursday about the new corona variant from S Africa, we got a small market test on Friday and it seems like the market was not that affected. It went a little down but was pretty stable nonetheless. What do you guys think? +Please use this thread to have discussions which you don't feel warrant a new post to the sub. While the Rules for posting questions on the basics of personal finance/investing topics are relaxed a little bit here, the rules against memes/spam/self-promotion/excessive rudeness/politics still apply! + +Have a look at the [FAQ](https://www.reddit.com/r/financialindependence/wiki/faq) for this subreddit before posting to see if your question is frequently asked. + +Since this post does tend to get busy, consider sorting the comments by "new" (instead of "best" or "top") to see the newest posts. +Almost three years ago - when prices where down between 60 and 80% from previous ATHs - my girlfriend asked me to place a bit of her money (nothing massive, just what she was prepared to lose) into crypto. I diversified it for her by spreading it between several relatively "safe" coins. + +*I*, on the other hand, invested a bit more of my own money. I have been checking the price often, with my funds I tried to time the market, thinking I could outsmart it. I panic-sold low, bought back higher. All the idiotic new investor stuff, I did all of it. + +I suppose it was a worthy lesson, I wanted to learn to be a somewhat more "active" "investor" (after all, one of us had to be), and so I did. But in the end, the BTC value of my portfolio is just about back to where it would have been, had I just hodled (only because I eventually got lucky, AND learned to be patient). + +Meanwhile, my girlfriend has never asked me how her investment was doing ever since, or checked the price of crypto. I don't know how she does it. She spared herself all the stress and, you guessed it: her portfolio has performed better than mine. + +She is the perfect hodler. Be like her. +Idea comes from gmaxwell and is explained here: https://iwilcox.me.uk/v/nofrac + +Here's some more description: http://www.reddit.com/r/Bitcoin/comments/1yj5b5/unverified_pastebin_gmaxwell_irc_log_mtgox_was/cfkze3p + +And as the guy that runs [bitcoinity](http://bitcoinity.org/markets) I'd like to promote the first exchange that implements it. Details [here](https://bitcointalk.org/index.php?topic=22929.msg5286474#msg5286474) +MODS DON’T REMOVE AGAIN, reposting so people out of daily chat can see. + +**So, why should you continue to buy and hold GME?** + +Big hedge funds bet heaps of money that GME 🚀 would go bankrupt and have been put against a wall. If investors (and retail investors like us retards) hold, this forces the hedge funds to cover AKA buy back stock at whatever price is available AKA a short squeeze. + +Time for some learning so take your rockets and listen the fuck up space-cadets: 🚀🚀🚀🚀🚀🚀🚀🚀🚀 + +Now that I have your full attention - pretty much the butt pirates over at Melvin Capital **fucked up big time**. Melvin along with Citron Research (AKA Andrew "Smoothbrain" Left) and a few other companies shorted, expecting it to continue to lose ALL revenue. Now, the problem is, they overshorted GME by about \~140 fucking percent. + +Essentially as long as investors can 💎 HOLD 💎 past the initial burst of buy-backs (which ***could*** be as soon as Friday with how many ITM options are sitting on Melvin's books). If you don't understand 'Days to Cover' I suggest doing some ACTUAL FUCKING RESEARCH but in short: + +*"****Days to cover****, also called short ratio, measures the expected number of days to close out a company's issued shares that have been shorted.* ***Days to cover*** *is calculated by taking the number of currently shorted shares and dividing that amount by the average daily trading volume for the company in question."* + +**Short Interest (Shares Short):** 61 - 71.2M + +**Short Interest Ratio (Days To Cover):** 2.1 - 6.3 + +*^(\*there is some disparity here between data sources - approx. as reported 28th Jan 2021)* + +As long as everyone holds their GME stocks, this demand by Melvin and Citron will continue to drive up the price, and this can go on technically till GME hits X number because they can only close their positions once people start selling. Remove your fucking sell limits if you like money. + +**No selling > no shorts closing > demand for the stock increases > price goes up even higher.** There is no ceiling to this, the power is in your hands to buy and hold. + +The point here is, the covering will take **DAYS** to happen. DAYS. No space cadets left behind so get your fucking helmet ready for launch. + +💎💎💎💎💎💎💎💎💎 + +🚀🚀🚀🚀🚀🚀🚀🚀🚀 + +Closed yesterday $147.98 + +Closed today \~$340.00 + +Closed tomorrow - Melvin Capital & Citron + + +Positions: x90 GME @ $40 + +Sources: + +[Ortex](https://www.ortex.com/stocks/26195/shorts) | [Shortsqueeze](https://shortsqueeze.com//shortinterest/stock/term2.php?s=GME) | [Fintel](https://fintel.io/ss/us/gme) | [Google](http://letmegooglethat.com/?q=im+a+retard) obviously +As the title says, I strongly believe that we are writing history right now. Think of it. Once the share price hit 44440 $/share, Ryan Cohen leaves behind John D. Rockefeller (420B), Jakob Fugger (400 B), and Andrew Carnigie (310B). Even if the price is not sustainability and only for a limited period, he still claims the crown for the richest person who has EVER lived on our planet. + +Let’s make it happen! HODL💎🙌 +**Most millionaires don't just life the high life. They budget wisely to maintain their affluence and net worth.** +If they get a raise they do not automatically increase their standard of living in proportion to their salary. Instead, they learn to invest the additional money so that they can retire earlier. The majority of self-made millionaires have modest backgrounds and become rich by saving their monthly earnings and avoiding spending money on things they don't really need. + + I work in technology and it's surprising how rare it is to find someone who budgets judiciously and plan for their retirement. Most of my colleagues don't even contribute to either 401k or Roth IRA EVEN WHEN THE COMPANY IS OFFERING A 5% MATCH. Others only contribute up to 5% because they have to pay off their expensive car or are saving up to buy that 65' LED TV. A lot of them have never heard of Mint or YNAB or Vanguard. + +**Wealthy people believe that financial independence is more important than flashy social status.** +Being financially independent plays a significant role in your well being. Of those in the same income bracket, people who are financially independent are happier than those who aren't. However, what does it mean to be financially independent? It essentially boils down to the fact that you are able to continue the same lifestyle you currently maintain now when you retire. Also, you have made accommodations for any financial crisis in the future. Financially secure people are clear about their future goals, and that enables them to organize their household expenses according to personal priorities. + +You can have a high income, live in a big house, drive luxurious cars and wear designer clothes. Yet, it is a terrible indicator of your actual wealth. Most millionaires don't have as much money as you'd expect. To calculate the expected wealth of a person: take the person's age and multiply it by the pre-tax annual household income, followed by dividing the result by 10. For example, Joe earned $250,000 last year. He is 50 years old. His expected wealth will be 50 multiplied by 250,000, then divided by 10. which equals to $1,250,000 + +But, by squandering his cash on luxury goods, Joe's actual net worth is less than $260,000 He's no millionaire but an under accumulator of wealth. As a result, he is not worth as much as he could be. + +A friend of mine bought a $60,000 car and he was bragging how people come up to him to talk about his car whenever he goes to parties. Currently, he is contributing $0 to retirement or investment of any kind. + + + +**Millionaires are aware of where their cash is going and spend a considerable amount of time planning their investment.** +Surveys have repeatedly shown that for every 100 millionaires who weren't budgeting and planning their financial future, there were 120 millionaires who certainly were. Planning and restructuring expenses is the key if you want to retire early. Set a goal, such as having a specific amount of cash put away for retirement. Then, budget your expenses, living costs and investments. + +On one hand they are frugal, but they do not cut on important expenses like healthcare for their loved ones, house and car insurance and tax advisers. Likewise, they know to buy products and services that vastly improve their businesses (additional office space or software) and quality of life (gym memberships, gardening, groceries). + +**Contrary to popular belief or the stories covered in news, most wealthy people are thrifty and mindful of their spending.** +On the other hand, I have seen so many of my colleagues who just got out of college and ended up buying a $40,000 car as soon as they landed their first job. They didn't even give too much consideration to miscellaneous expenses like costly insurance, higher gas costs (since their cars require the more expensive grade gas), maintenance, registration fees, etc. They have never heard of discount stores like DDs, BigLots, Ross or TJ Max/Marshall's. + + +Conclusion: +Overall, this is a good book but it is aimed towards people who are new to FI rather than this subreddit. It could have been a lot shorter as it tends to repeat the same points in different chapters. So, if you are still planning to read this book, I'd suggest to just get the audiobook since you can increase the playback speed and get done with the book in half the time and you can listen to it while you are driving, walking or running errands. + +I have read and prepared summaries of over 2 dozens books on investing and finance this year. If there is any interest, I'll be happy to share them with everyone. It might help you decide if you'd want to put in the effort to read the whole book or not. + + +My wife and I live just outside London and have 2 young children. I earn about £34k a year which is enough but with bills, mortgages, we are just about managing. I feel our problems would be solved if my wife started working. We could save everything she earns and use my salary to fund everything. + +My wife doesn't work because she feels that it's my responsibility to provided for the family. She is from india so has a view that it's not right for her to work. + +Child care isnt an issue. We live next door to my parents and my father takes them to and from school, and they are happy to babysit them for an hour after school. + +I think its the ideal time for her to work, we could save up and move to a better area in a few years or save to set up the kids future. But forcing the point is just going to cause problems. Any ideas. +Father passed away i have no idea how to see if i can somehow get his social security that he was paying into. He never added us his kids as dependents and he passed away almost 10 years ago. i also don’t know what life insurance he was paying into. He didn’t have a will. My sister at the time of his death was under age and i read that she could have been getting a check from the government for that. Can she still get that money now? +I am considering purchasing an electric car as my next vehicle and I did some research to see if it is actually worth considering from an Economic point of view. I was actually surprised at how close most of these vehicles are to being cheaper than a comparable ICE car. + +I would predict that most Electric vehicles would be worth purchasing for an average Australian driver at a petrol price of around $3.18, considering most prices are around $2.20 with 22c to be added back to fuel excise in the coming months this may only be 3 years away. + +If you were able to use your car for a whole week and charge it on the weekend using excess solar most cars are already well worth considering. I also haven't included any savings from maintenance as I couldn't find any exact figures for this. + +https://preview.redd.it/j5gejufthb091.png?width=1199&format=png&auto=webp&s=c6e9a011c162aa94626075fe5ef82cd0945af09a +Let's say you have to flee your home in a wartime situation. You have no cash, but its devalued anyway due to recent events. + +but you have your phone, hardware wallet and seeds. You feel pretty good. + +Then the internet and mobile networks go down. + +How do you use your bitcoin? Is it worthless? +They failed to bring attention to it, to make it visible as we suggested by sticky/pinning a discussion post/thread so we can get organized and take effective action. + +Like on the last vote (where we took massive action contacting the MP's) regarding the POW proposed ban, the votes were very evenly divided. + +On the POW ban, that failed to pass by a small margin. On today's vote regarding the crack down on unhosted wallets and privacy, it passed by a thin margin because we didn't take action like last time. + +Please read the related threads (like Patrick Hansen, Unstoppable Finance, Coinbase, etc. on Twitter), there's still time to make a difference in subsequent steps before the law is finalized and enacted. + +We need to come together in these crucial votes to tip the balance towards privacy, independence, liberty, justice, freedom. If we do nothing, tyranny and centralization of power will keep growing. +In the spirit of the other thread about doing coke. If I had a dollar everytime blow and hookers are mentioned I wouldn't have to work. How many of you actually hire hookers, escorts, etc? +You like pizza parties? I like pizza parties and I bet you do too. So why the fuck weren't we invited to the pizza party Blackrock and company are throwing on June 18? + +Let me explain, but first what does anyone know about Junk bonds? Specifically, corporate junk bonds? + +https://preview.redd.it/pmjkevvga9371.jpg?width=657&format=pjpg&auto=webp&s=8a543e8d43412eba40ba6abbfecb8d3b3a161e49 + +Yeah, I don't know much either, except that they seem to blow up when the market blows up. Why does this matter? Two reason ... 1) Our favorite little video game retailer looks like it might take a blowtorch to the face of the market upon liftoff, and 2) Because there's this little corporate junk bond vehicle called HYG — IShares IBOXX $ High Yield Corporate Bond ETF. + +What's HYG look like during market turmoil? + +https://preview.redd.it/8dvyp3d9d9371.png?width=2462&format=png&auto=webp&s=9e6fe84e4713a073f6ff40385aa4c3408d10867b + +See that crash. That was the start of the pandemic. HYG tanks with volume. Crazy, right? + +So let me back up ... + +I was looking through Citadel's and Blackrock's filings on WhaleWisdom as every wrinkled ape should. I was trying to figure out if there were any shared positions figuring whatever they might have in common, it can't possibly go tits up, right? + +Something curious about Blackrock ... you really have to dig deep to find anything other than long share positions. In fact, not a single one of their largest positions in $$$$ is in options. Take look: [https://whalewisdom.com/filer/blackrock-inc#tabholdings\_tab\_link](https://whalewisdom.com/filer/blackrock-inc#tabholdings_tab_link) + +Citadel, on the other hand, nothing but options as far as the eye can see. They love the shit (probably because it's easy to run complex shenanigans with derivatives). + +It's almost like Blackrock and Citadel have this arrangement ... Blackrock buys and holds the shares then lends them to Citadel so they can short them, rehypothicate them, do all kinds of fuckery in options, etc. to fuck over retail investors. Blackrock has Citadel by the balls, Citadel has retail investors by the balls, ya-da-ya-da-ya-da. + +Speaking of options, the second largest option position for Blackrock is a Put position, on HYG. Guess what, Citadel also has a big Put position on HYG. Even more curious, both of them just added to this position recently, and so did a bunch of the other major players. Check it out: + +https://preview.redd.it/tgnuiq21c9371.png?width=2816&format=png&auto=webp&s=8a947152df8a84958630bc01f11d7684a92fdad0 + +Blackrock also dumped a bunch of shares: + +https://preview.redd.it/ehi36go3d9371.png?width=2834&format=png&auto=webp&s=f045015274d90a624f30d2ec12abbe36883eaf5b + +Wow, I thought. I'd like to see these options in action. So I started searching through HYG's option chain. + +June 4: + +[A little bit of action here, but nothing crazy.](https://preview.redd.it/juvavg9nc9371.png?width=1184&format=png&auto=webp&s=dda80a88f983fb1338618ea649a7f344db07c4be) + +June 11: + +[Again, not much to see here.](https://preview.redd.it/22c35w3uc9371.png?width=1180&format=png&auto=webp&s=e504bbc79939f1cdabcbdadbb6a5c77c96daf374) + +June 25: + +[Again, nothing doing.](https://preview.redd.it/h889570zc9371.png?width=1178&format=png&auto=webp&s=bd4efe093ee87cc95a9ecd12f60e2fac1b02a3ee) + +Wait, what about June 18? I forgot June 18: + +https://preview.redd.it/hz6zjipyd9371.png?width=1176&format=png&auto=webp&s=dc53ffaff99188f66f34c98cc9dc6b7948db721e + +https://i.redd.it/4c3erbekd9371.gif + +How is it that a stock that does 20MM in daily volume has an option day with (at a glance) 2MM+ contracts (that's like 200 million shares). That's like $4B. And if HYG tanks hard (like -$10/share), the value of these Puts could be more like $200B (math in my ape head). The numbers just go up and up depending on how hard it crashes. **And look at how LOW the premium is on these options.** Absolutely no volatility (until there is, right?). + +Now, we're all familiar with how married puts can be used to hide FTDs. And HYG has FTDs ... + +https://preview.redd.it/2bkeq8ufe9371.png?width=930&format=png&auto=webp&s=633f7fb9d7a40f412ea180897a0c4c141adfae46 + +So this takes me back to pizza parties, and why we weren't invited to the June 18th party. I actually have no idea how to trade this. All I know is if the market goes boom, and volume spikes in HYG, it tanks hard and fast. But if all these Puts are to hide FTDs and kick the can down the road, a tanking market might not be in the cards at all. There's also some more crazy options action on July 16. + +So what is all this? Are all these funds planning on cashing in on a total market blow up happening sometime between now and June 18. Is GME the catalyst? Or is everyone playing option games now? + +All I do know is I can't stop thinking about this scene from True Romance. + +https://preview.redd.it/t959c1pme9371.jpg?width=643&format=pjpg&auto=webp&s=31c018878a277386f4dd9eb94dcdcff6886d3e22 + +Another thing ... in looking at the different positions between Citadel and Blackrock ... if they are not buddies and they're not planning on playing nice, Citadel looks vulnerable when it comes to Facebook. It's Citadel's largest share position by $$$$ amount ($850MM), and Blackrock owns $46B in FB. In one fell swoop, Blackrock could recall all its shares while at the same time dumping/tanking FB. What would you do then, Mr. Mayo? There's no fudging share value like with options ([https://www.reddit.com/r/Superstonk/comments/nfczb2/even\_more\_cheat\_codes\_so\_much\_options\_fuckery/?utm\_source=share&utm\_medium=web2x&context=3](https://www.reddit.com/r/Superstonk/comments/nfczb2/even_more_cheat_codes_so_much_options_fuckery/?utm_source=share&utm_medium=web2x&context=3)). If FB tanks, it would be hard for Citadel to make that go away on their balance sheet. Furthermore, both BR and Citadel have been reducing their FB positions. You know who else has been reducing their position in Facebook? Our boy MZ: + +[Why no like FB anymore, Mark?](https://preview.redd.it/j02f8eszf9371.png?width=1500&format=png&auto=webp&s=7c043af7ba2619185fe354a163dd58b249a4ab6b) + +Yeah, all that red ... it's him. He's been dumping 50K-70K shares a day since November. Sustained selling. Very sustained selling. + +Citadel also looks vulnerable on Amazon too. Divorce court, anyone? And if you read between the lines on Bezos' 2020 shareholder letter, it almost sounds like the party is coming to an end ([https://www.aboutamazon.com/news/company-news/2020-letter-to-shareholders](https://www.aboutamazon.com/news/company-news/2020-letter-to-shareholders)). Both FB and Amazon have some interesting June 18 Put action too. + +Anyway, a lot to process here, I know. But I'll give it a try (and then I need to work): + +**TL;DR — There is a crazy amount of open interest on HYG (Corporate Junk Bonds) for June 18. Seems like everyone has a piece of it (except maybe GS). Looks like a pizza party, so I thought everyone should know about it. In order for all these Puts to print, the market is going to have to completely melt down (GME moonshot?). Or maybe these are being used to bury a bunch of FTDs and keep the party going. I have no fucking idea, but maybe someone else does. At any rate, I'm long HYG Puts, long HYG calls, short FB, and I have no fucking clue what I'm doing. None of this is financial advice, and do your own research, man!** + +**Edit #1: Check out June 18 options on JNK ... same thing as HYG ... lots of Put action in June 18, nothing else on any other date.** + +https://preview.redd.it/9isntzq13h371.png?width=1200&format=png&auto=webp&s=6dcb30a7b4218cb2c9e2c2e2be35fc85ce87aac0 + +More convinced than ever there's going to be some sort of a blow up in the corporate junk bond market ahead of June 18. + +**Edit #2 (night of June 10): Something interesting about GME and VIX in link below. VIX almost at max bearish position. Global markets at all time highs. Reverse repo maxing out. Something's gotta give, seems like.** + +[https://www.reddit.com/r/Superstonk/comments/nx7jks/picture\_time\_gme\_and\_vix\_beta\_buddies/?utm\_source=share&utm\_medium=web2x&context=3](https://www.reddit.com/r/Superstonk/comments/nx7jks/picture_time_gme_and_vix_beta_buddies/?utm_source=share&utm_medium=web2x&context=3) + +&#x200B; + +Edit #3: Other DD worth checking out: + +[https://www.reddit.com/r/Superstonk/comments/nfczb2/even\_more\_cheat\_codes\_so\_much\_options\_fuckery/?utm\_source=share&utm\_medium=web2x&context=3](https://www.reddit.com/r/Superstonk/comments/nfczb2/even_more_cheat_codes_so_much_options_fuckery/?utm_source=share&utm_medium=web2x&context=3) + +[https://www.reddit.com/r/Superstonk/comments/ndaad2/dd\_saturday\_special\_robinhood\_citadel\_options\_and/?utm\_source=share&utm\_medium=web2x&context=3](https://www.reddit.com/r/Superstonk/comments/ndaad2/dd_saturday_special_robinhood_citadel_options_and/?utm_source=share&utm_medium=web2x&context=3) + +[https://www.reddit.com/r/Superstonk/comments/nrk98j/something\_about\_sears/?utm\_source=share&utm\_medium=web2x&context=3](https://www.reddit.com/r/Superstonk/comments/nrk98j/something_about_sears/?utm_source=share&utm_medium=web2x&context=3) + +[https://www.reddit.com/r/Superstonk/comments/nxxc87/thirdparty\_consumer\_survey\_data\_not\_reddit\_data/?utm\_source=share&utm\_medium=web2x&context=3](https://www.reddit.com/r/Superstonk/comments/nxxc87/thirdparty_consumer_survey_data_not_reddit_data/?utm_source=share&utm_medium=web2x&context=3) + +&#x200B; +I’m aware there are cheaper ways to make lunch and I’m not suggesting it is super value, however I’m out and about a lot (unpredictable working times/locations) and the convenience suits me. + +I left the UK in about 2016 and recently got back. It seems like the price of just about everything else has doubled but Tesco still do the £3 deal if you have a club card. +Hey guys, + +I just realised that [Blockzero](http://Blockzerolabs.io) has probably never been mentioned here before, so here goes. + +Blockzero makes cool and innovative crypto projects and then here's the best bit; it hands out ALL of the tokens to the Blockzero community. + +It launched its first project - [flashstake](http://flashstake.io) - in January. The next - [AquaFi](https://twitter.com/ErikVoorhees/status/1350137736116785155) - is due later this quarter. You can earn AquaFi tokens now by simply holding XIO in your wallet, and you can earn more by providing Xio/Eth liquidity on uniswap. + +In addition to the token drops, there is a generous liquidity rewards scheme - info [here](https://blockzerolabs.io/xlp/) + +They plan to launch 4 tokens per year. To me it's an absolute no brainer to hold xio in the uniswap pool to earn max tokens plus the Liquidity rewards. + +Thank me later. + +Key stats and links: + +Market cap: £4.6m + +[blockzerolabs.io](http://blockzerolabs.io) + +[CoinGecko](https://www.coingecko.com/en/coins/blockzero-labs) +I guess this is a poor person wondering type of question. Watching selling sunset on netflix and wondering if people buying 10M+ apartments are also just putting the 10-20% down or buying the place outright with cash? Surely banks arent lending out 8M pounds in a single mortgage 🤔. + +Is there an upper limit on how much a bank would loan out as a mortgage (even if you are really rich)? +My life was turned upside and put on hold when I was diagnosed with a rare cancer at 31 two months ago. My original goal before was to save for a deposit to buy a property in London (through a help to buy or shared ownership), however I feel this might not be feasible anymore because I don’t know how long I have left. + +I’m a 31F, professional and single, but currently on furlough since last April when I fell very ill with covid and then led to my diagnosis. I’m still off work whilst I sort myself out and undergoing chemo treatment. I receive full salary from work and whilst they have been supportive and have not rushed me to return until I’m ready, I know I will have to go back to work soon. I am not sure if I will ever be able to go back working full time because of treatment - which will affect my income dramatically I think. + +I have almost £80k in savings with no student debt and original plan was to save another year to buy a place. I’m currently living at home and know it is my comfort zone and my parents want me nearby because of my cancer, so they would rather I stay at home, but I want to move out to have my own space one way or another. + +I feel knowing I have cancer, I don’t know if I can afford to play with the idea of owning property anymore because I don’t know how long I have and once I’m gone, what is going to happen with the mortgage. I’m single and no one to share the mortgage with unless it’s my brother but I don’t wish to burden him with that responsibility. + +Or should I just find a place to rent? What would you do if you was in my position? I feel renting is flexible but the money could go to better use if I owned the place but I can’t help but feel grim reaper is waiting around a corner. It could end up being more complicated if something does happen to me. +This is my post on wsbelite. Repost here for all. + +IMO, trading options have similarities to playing poker and in order to be successful in the long run you need to be disciplined and refrain from making common mistakes. I’m going to list common mistakes and some tips here. Please suggest more. Hope we all lose less tendies! + +1. Refrain to trade low volume options . These contracts will have really wild bid/ask spread, or really low volume, which reduces your chance to make profit significantly. For example how can you win if you trade $ROPE 100c when the bid ask spread is $69/$96 per contract? +2. Refrain to trade very low price options (e.g 1-10 cents) because your broker commissions will eat up a significant amount of the transactions. Think how much commissions you have to pay to buy 10000 contracts of 0.01 $ROPE 1000c which costs $10000 of premium. +3. Refrain to buy near-dated far OTM options, because this is almost a sure way to burn your money. Even worse, even if you guess the direction right, you may still have a substantial loss. Think $PEI 500% OTM 2DTE. Btw $PEI is a great stock to own. Example: on 04/13 you bought SPY 496c 04/17 when SPY=280. On 04/14 SPY rises to 285. Guess how much you made on your call options? +4. Know when to select OTM vs ITM options: in general: OTM is higher risk/higher return. Have some sense of OTM price movement - even when you guess the direction right, far OTM options won’t make you money because of low delta. ITM is more expensive. ATM is typically a safe choice if you just want to make a directional bet. +5. Know theta-crush. Your options will lose time-value every day, so refrain from buying short-dated options unless you know what you're doing. +6. Know the effects of IV (VIX for SPY) on options price. Sometimes even when you guess the direction rights, you may lose money because of VIX movements. Know how to hedge for VIX movement. +7. Refrain from using market orders when possible: limit orders will give you the price you want. +8. Understand the margin impact of different options strategies. +9. Understand the impact of your broker commissions. +10. Bank management: never YOLO your entire portfolio into one position, because if you lose, there’s 0% chance to make it back. Learn [http://www.thepokerbank.com/strategy/basic/bankroll-management/](http://www.thepokerbank.com/strategy/basic/bankroll-management/). If you want to get in a large (50K+) position, average in/out may be a good idea. +11. Don't open too many positions unless you're a bot. It's hard to manage manually and easy to make mistakes. +12. (Mostly) don't follow autist DDs that you can't explain. +13. Learn the market hours! +14. Options strategies can be complex to visualized. Use your broker's performance profile tool to understand the performance implications before making a trade. + +**Some risky options strategies that you should only do when you know what you’re doing** + +* Naked puts, i.e. short puts: very risky especially in a recession: when the underlying crashes you’ll lose lots of money +* Synthetic shorts: i.e. long puts + sell calls, also very risky, only know when you’re 90% sure of the direction. +* Naked calls, i.e. short calls: also pretty risky if the underlying moons. +* … + +**Less risky options strategies:** + +1. Covered calls: very low risk. You hold shares, and sell OTM calls to cover them and collect the premium. +2. Cash secured puts: sell puts but you have cash to cover it. This is good when you’re willing to buy the shares if it drops, otherwise you collect the premium. +3. Diagonal: Simultaneously entering into a long and short position in two options of the same type (two call options or two put options) but with different strike prices and different expiration dates. Typically these structures are on a 1 x 1 ratio. This is less risky and can hedge you against IV as well. For example if you bearish on USO, buy a 4p 05/15 and sell a 3.5p 04/24, that way if USO moves upward on the week ending 04/24 you’ll collect the near-dated premium. +4. Learn how to sell options. Every mistake you made as an option buyer is probably a chance for you to profit as an option-seller. + +**Practical tips** + +1. Use tools to scan top volume options. [https://www.barchart.com/options/volume-leaders](https://www.barchart.com/options/volume-leaders) . This can give you some confirmation. +2. Use tools to scan unusual activity options. [https://www.barchart.com/options/unusual-activity](https://www.barchart.com/options/unusual-activity) Try to think why people are making that trade. Your broker also has tools to scan these. +3. Take advantage of L2 flow data if your broker provides. +4. Sometime when you can't make a long-term directional bet, it may be profitable to day-trade or swing-trade (hold your positions for 1-3 days). +5. Know common ETFs: + +* SPY: everyone knows this. The most liquid options to trade. +* IWM: tracks Russell 2000. Also pretty liquid. Trade this if you don't want expose to big techs. +* Sector specific ETFs: XLE, XLF, XLC, etc. Also highly liquid. +* Country specific ETFs: EWU, EWG, EWC, EWA, EWJ ... fairly liquid. +* Gold: GLD +* Silver: SLV +* Oil: USO (make sure you really understand this; it doesn't track oil price) +* Options of individual stocks: in general, the more liquid the underlying, the more liquid the options, e.g. AMZN, BA, FB, TSLA, ... + +**Tips to improve** + +Learn more about economics and business to improve your common sense. + +Advanced topics: understand how MM works, gamma hedging, dark pool indicators, probably understand some TAs such as RSI. + +Day trade dynamics: power hours. + +**Things to debate** + +1. Should you use stop-loss orders or not? +2. When to buy FDs and how much should you spend on FDs? +3. What is the impact of the underlying delisted on put options? As example OILU closed on 03/29 [https://materials.proxyvote.com/Approved/MC3724/20200316/SUP\_421079.PDF](https://materials.proxyvote.com/Approved/MC3724/20200316/SUP_421079.PDF) + +* On March 15, 2020 ProShares Capital Management LLC announced that it plans to close and liquidate ProShares UltraPro 3x Crude Oil ETF (ticker symbol: OILU) and ProShares UltraPro 3x Short Crude Oil ETF (ticker symbol: OILD). Each fund trades on NYSE Arca. The last day the funds will accept creation orders is March 27, 2020. Trading in each Fund will be suspended prior to market open on March 30, 2020. Proceeds of the liquidation are currently scheduled to be sent to shareholders on or about April 3, 2020 (the “Distribution Date”). +* Shareholders may sell their shares of a Fund (subject to any applicable brokerage or transaction costs) until the market close on March 27, 2020. From March 30, 2020 through the Distribution Date, shares of the Funds will not be traded on NYSE Arca and there will not be a secondary market for the shares. During this period, each Fund will be in the process of liquidating its portfolio and will not be managed in accordance with its investment objective. +* These strategies are intended to allow an Oil Fund to preserve a minimal portion of its value in the event of significant adverse movements in a Fund’s benchmark. There can be no guarantee that an Oil Fund will be able to implement such strategies or that such strategies will be successful. Each Oil Fund will incur additional, potentially substantial, costs as a result of such strategies which may cause or increase tracking error and would be expected to have a substantial adverse impact on performance. Use of such strategies would cause an Oil Fund to not perform consistent with its investment objective. Furthermore, in the event that an Oil Fund’s value decreases by 70% or more at any point from its prior day’s NAV, as determined by the Sponsor, the Sponsor, in its sole discretion, in order to maintain the integrity of the ongoing operation of the Fund or for other reasons, may cause such Fund to liquidate some or all of its positions and, in lieu of such positions, invest such assets in cash or money market instruments. The above actions may be taken without prior notification to shareholders and would be expected to cause an Oil Fund not to perform consistent with its investment objective. Under these circumstances, consistent with its general authority, the Sponsor may, but is not obligated to, cause an Oil Fund to be terminated and dissolved. +I bought 5 shares of Amazon for about $7k, they're valued around $11k right now. I'm thinking about selling them to free up some capital to take advantage of cheap prices. + +One stock I'm looking at is Citigroup. Prices were at around $80 before the crash, they're at around $45 now. The value of my Amazon shares would get me around 250 shares, which if they returned to the $80 value would net me just shy of $9k. I'm assuming banks are a safe investment to return to normal eventually and while Amazon might keep going up, the small amount of shares I have really puts a cap on my profits. + +Thoughts? I'm kinda new to investing so I might be dumb. I don't have any more disposable income to buy the Citigroup outright so I would need to sell the Amazon. +Reddit is going to go Public within the next 2 years. They’ve pubicly stated their intents, without confirming a timeline, and they are also making. some key dank hires in their finance orgs to get the ball rolling. Its a matter of when, not if at this point. +Will WSB make this more insanely valued than Tesla or snowflake? With our collective mighty morphin power pump Reddit stock to infinite? +Back when I was young, around 2015. I got into bitcoin, it was amazing, exciting and brand new. + +I immediately saw the utility and value going up, it was enough to make my young eyes glisten. However in my wisdom, I only saw a single use case at the time. I saw bitcoin as a currency, not something to be held and stored. + +I found these 'dark web' stores where you could spend bitcoin and get stuff delivered!?! Amazing. I felt like I was in a thriller movie for a little bit of trees. During my time as a teen, I did this again, and again. I spent 29 bitcoin. At the time, this wasn't much, just my minimum wage job paying me enough to do something with it. + +Here I am, 6 years later. Struggling financially, investing in crypto and just wishing I had held it. $1.6 million USD, what a life changing amount. + +I dont know why I am posting this, but if I could say one thing to each and every one of you it would be to hold. Just hold, don't regret it years later like me. +There's so much to cram into this DD/model that I'm going to try to keep each point brief. + +&#x200B; + +Table of contents: + +1) First, what are the risks; Quick Notes + +2) Master equation + + a) gaap earnings per EV + + i) model & explanation + + ii) dropping battery costs + + iii) increase in efficiency of manufacturing/innovation + + iv) regulator credits will vanish. Tesla is insanely profitable without them. + + b) EVs delivered + + i) why competition won't affect Tesla's sales + + c) P/E ratio + + i) reasons and justification for a 50 P/E + +&#x200B; + +1) I'll start with the risks to my valuation model: + +In my opinion, the biggest risk to Tesla is failing to execute on the growth plan. The biggest hindrance I can see for Tesla's valuation will be failing to achieve their 50% YoY growth targets. + +If there's an actual economic recession where consumers have to drastically cut back spending, then Tesla would definitely suffer. But this risk is obvious, and probably applies to 99% of growth stocks. Side note: Tesla currently makes such good margin on their EVs, that they have the flexibility of dropping prices to meet demand; however, this would greatly cut into earnings and reinvesting into growth. + +And of course there's the silly, but still very valid, risk to the valuation of companies that the market takes an irrational dive of 20%+, and investors lose confidence in stocks for the foreseeable future. However, Tesla's growth target might still be attainable in this economic environment. + +I do \*NOT\* see new EVs from other companies entering the market as a risk to Tesla. There are 80M auto sales globally every year. My model calculates that Tesla obtains 12.1M of the sales (in 2027). This leaves plenty of room for legacy automakers and new EV manufacturers to sell millions of their own EVs. + +Quick Note: This model is based \*only\* on EV sales. This does not include solar and energy storage, AI, robotics, or FSD. I see 2027 as the peak year of profitability for Tesla EV sales (we'll see why in my model in section 2ai) + +Another Note: My model below has a base case (based on 50% YoY growth as Tesla aims for), a bear case (based on 40% YoY growth), and a bull case (based on 60% YoY growth) i.e. in the event that Tesla fails to execute on 50% YoY growth, achieving only 40%, then the bear case shows how the numbers could be affected + +&#x200B; + +2) I'd like to start with a simple equation, and expand on the details of the equation. This is for year 2027: + +$12,000 gaap earnings per EV \* 12,100,000 EVs delivered \* 50 P/E = $7.2T market cap or approximately $7000/share + +Sections 2a, 2b and 2c will be the reasoning behind $12k gaap earnings per ev, 12.1M EVs delivered, and 50 P/E respectively + +2a) This gaap earnings per EV metric will be the most difficult to explain. I'll start with my model and an explanation + +2ai) Here's my model: [https://docs.google.com/spreadsheets/d/12\_Qp2gXP1HV3EC5UOWBytx6Kn5dfNftqkTo0EwP0Ua8/edit?usp=sharing](https://docs.google.com/spreadsheets/d/12_Qp2gXP1HV3EC5UOWBytx6Kn5dfNftqkTo0EwP0Ua8/edit?usp=sharing) + +Note: non-gaap earnings per EV through 2021 by quarter: $5628, $8060, $8622, $9208 + +Explanation of model: Warning, this is incredibly detailed. I'm going to try to keep the explanation as simple as possible, and I'm more than happy to answer any questions. + +Note: I wrote this DD before Q4 earnings came out, and I decided to leave that data point so you can actually see that my prediction was $2.48 non-GAAP earnings (not bad, huh? actual was $2.54) + +The black numbers are known numbers (from 2020 Q3 to 2021 Q3). The red numbers are unknown, but projected numbers. From known numbers in the ER reports I was able to calculate ASP (average selling price, i.e. total auto revenue/evs delivered), COG per EV (cost of goods per EV, i.e. ASP\*(1- gross margin)), earnings per EV ((non-GAAP EPS\*outstanding shares)/EV delivered), and I was also able to calculate a sort of "operational/manufacturing cost per EV" by this equation: + +ASP - COG per EV - earnings per EV = "operational" cost per EV + +Here's a beautiful illustration of this equation: + +[https://imgur.com/a/9vJcx0u](https://imgur.com/a/9vJcx0u) + +So now that we have ASP, COG per EV, earnings per EV, an "operational" cost per EV and EVs delievered.. how do I project to get the red numbers? I extrapolated using exponential decay. Based on the rates that ASP, COG per EV and "operational" cost per EV were already falling, I took that rate and extrapolated out using an exponential decay model. I also assumed 50% YoY growth in EVs delievred (or 10.66% QoQ compounding). + +The math for exponential decay was pretty annoying. For anyone interseted, here's the recursive equation: P1 = (P0 - b)\*(1 - r) + b where P1 is one iteration past P0, b is the asymptote and r is the rate of decay. Solving for r gives r = 1-(P1-b)/(P0-b), and so I calculated the average r from the past 4 or 5 iterations to "use" the existing rate of decay. Interesting fact, I had to assume some 'asymptotes' for ASP, COG per EV and operational cost per EV, but if you look at my bear, base and bull cases where I've modified them, you'll see a very little difference in the outlook. The main difference between the base, bull and bear cases is simply growth of sales. + +So now that I've extrapolated ASP, COG per EV, "operational" cost per EV and EVs delivered.. I can now calculate the project non-GAAP earnings per EV via the equation I used above: + +earnings per EV = ASP - COG per EV - "operational" cost per EV + +this one: [https://imgur.com/a/9vJcx0u](https://imgur.com/a/9vJcx0u) + +After finding earnings per EV, divide by the projected EVs delivered, and then by outstanding shares and you have the non-GAAP EPS estimates. + +Now for some interesting (but not very pretty) graphs. Again, take 2029 and 2030 with a grain of salt. The S-curve will flatten + +ASP graph: + +[https://i.imgur.com/PtWtRqT.png](https://i.imgur.com/PtWtRqT.png) + +&#x200B; + +COG per EV graph: + +[https://i.imgur.com/KM49p60.png](https://i.imgur.com/KM49p60.png) + +&#x200B; + +Operational cost per EV graph: + +[https://i.imgur.com/8OEoUO8.png](https://i.imgur.com/8OEoUO8.png) + +&#x200B; + +This is my favorite graph. Through no design of my own, but only from exponential decay extrapolations of other metrics, the non-GAAP earnings per EV graph tops out in 2027 as the year we'll see peak profitability per EV. + +non-GAAP earnings per EV graph: + +[https://i.imgur.com/jD9KdaR.png](https://i.imgur.com/jD9KdaR.png) + +&#x200B; + +non-GAAP EPS graph: + +[https://i.imgur.com/ZlEz6rV.png](https://i.imgur.com/ZlEz6rV.png) + +&#x200B; + +ok, so why do we see dropping ASP, COG and operational costs? + +2aii) Dropping battery costs can be summed up with Wright's Law (Cathie Wood was one of the early TSLA investors that spoke of Wright's Law). Battery costs were as high as $1000/kWh\*\* when Tesla first started building the original Roadster. It has since dropped to $100/kWh, and is expected to drop to $50 or less per kWh. + +\*\*reference to $1000/kWh: J.B. Straubel, former CTO of Tesla, interview: [https://youtu.be/aWR5-mo8f1g?t=1520](https://youtu.be/aWR5-mo8f1g?t=1520) + +Here is an excellent reference to declining battery costs as presented by Tony Seba. This presentation was centered around upcoming innovative and disruptive technologies: [https://youtu.be/Kj96nxtHdTU?t=405](https://youtu.be/Kj96nxtHdTU?t=405) + +&#x200B; + +2aiii) "Tesla isn't profitable!" we heard for years. This is because they were burning cash for R&D. They've made their manufacturing more efficient with innovations like the structural battery pack and gigacasting, and with 2 new factories we'll see even more benefits from Economies of Scale\*\*\*. Also, as Tesla opens Austin to serve the east coast US, and Berlin to serve Europe we'll see decreased shipping costs. This will cause the "operational/manufacturing" cost per EV to drop. + +\*\*\*[https://www.investopedia.com/terms/e/economiesofscale.asp](https://www.investopedia.com/terms/e/economiesofscale.asp) + +&#x200B; + +2aiv) regulatory credits were 13% of earnings in 2021 Q3, and 11% of earnings in 2021 Q4. But I'm not sure I need to make a bull case for collecting free money. + +&#x200B; + +2b) Will Tesla deliver 12M EVs in 2027? This is a fundamental risk for my model, as stated above. If Tesla maintains their 50% YoY sales growth, then they will sell 12M in 2027. We'll see. However, one thing for certain will not change Tesla sales: + +&#x200B; + +2bi) Competition. Tesla has \*always\* had competition. They had competition in 2013 to their Model S, and they have competition today. It's the ICE car, and Tesla is still managing to sell every EV they make. A couple points to make here: + +I wont get into this point too much. It took Tesla 5 years from their first mass produced EV until they managed positive Free Cash Flow (2013 Model S until 2018). It's not exactly a one-to-one comparison for other companies, but Ford, GM, Rivian, Lucid and others will need at least a couple years to achieve positive free cash flow on the EV segment of their business. But let's say all of them succeed in making a nice commercially viable, and profitable EV.. + +My next point is that the EV market is expanding \*rapidly\*. New EV models will not likely take sales from Tesla. They will take sales from the Toyota Corolla, RAV4, Camry, Honda Civic, Accord, Hyundai cars, Volkwagen cars, etc. as we've already witnessed. There's no reason to believe that any new EVs entering the market will take meaningful sales from other EVs instead of gas cars. + +&#x200B; + +2c) The P/E ratio will always be a guess. Tesla will be a company with a presence in EV sales, solar and energy storage, large commercial power storage, and potentially FSD software subscriptions and AI driven bots. I believe (assuming a bull market) that there will still be enough frenzy surrounding Tesla to see a 100 P/E in 2027. The conservative side of me calculates these numbers with 50. By the time the S-Curve flattens, the P/E could be 30.. or maybe 60 like Amazon? It's hard to say where Tesla will be in 2030, but they've always innovated and come up with new ideas. + +&#x200B; + +There is one thing I confident about though; Tesla should \*never\* be trading at Toyota, Ford, or GM's P/E ratios. The ICE car is a dead technology, not dropping in price like the EV, and is proving to be far inferior to EVs in every way. Plus legacy automakers are not growing (some have \*lost\* sales for the last 2 years). It took Tesla investing billions over a decade to bring down battery costs, and make the EV commercially viable. Something legacay automakers have never done. + +&#x200B; + +Anyway, I hope you guys liked this DD. I'll try to have discussion with you guys in the comments if you'd like. If you have a bearish counterpoint, then I'm all about discussing it; however, it will help me (and both of us) if you point out which part of this equation it affects: + +$12,000 gaap earnings per EV \* 12,100,000 EVs delivered \* 50 P/E = $7260/share + +so that we can establish the point of disagreement. + +&#x200B; + +Thanks for reading! +I've noticed a scam mail that is going around the internet recently claiming that mtgox has decided to return customers their bitcoins. + +It goes by + +>Have you lost your MTGOX Coins? +> +>go watch our news to claim your Bitcoins back! +> +>http://www[dot]bitcoinbreaknews[dot]com/mtgox-lost-coins + +I decided to investigate the url in the email with my virtual machine and the website looks exactly the same from WSJ video portal, except that the video is unable to play and requires the installation of adobe flash player. + +Following the instruction, the filename downloaded appears to be InstallFlash.rar. There are 3 files being extracted, namely Adobe_Flash_Installer.exe, LICENSE and README.txt + +After clicking onto the malicious Adobe_Flash_Installer.exe, the file will immediately disappears. + +It is apparent that the malware has installed onto the virtual machine. However, no obvious indication can be seen from task manager. + +Nevertheless, through packet sniffer, the machine began to make connections to IP address 5.104.105.194 and attempts to download multiple malwares from the IP. By listing the directory index, the IP appears to host multiple files namely: news.exe, test.exe, BTCChart.rar + +My investigation stops here. Be careful guys, malicious programs are disgusting in more creative ways now. + + +Here are the details of the IP address: + +5.104.105.194 + +Provider: Myloc Managed It Ag + +Country: Germany + +[Here are the screenshots of my investigation.](http://imgur.com/a/sZsLw#AeByegJ) + + +**I know that many people have lost a significant amount of btc due to mtgox. This is the least I could help, which is to help prevent anyone from failing into this scam** + +P.S I'm the same guy who posted the [sourceforge malicious trading program](http://www.reddit.com/r/Bitcoin/comments/1y24x2/malware_do_not_download_cryptocointrader_from/) few weeks back... +(Mods: hope it's okay to post this which I found illuminating.) + +[Guardian article](https://www.theguardian.com/money/2018/jul/07/heres-how-scammers-get-away-with-it). +I'm sure most people already know this but there was an article on BBC saying that a girl applied for a job with Tescos at 7pm and they called her back at 10pm, done a 2 minute telephone interview and told her to start on Saturday. + +This is a great opportunity for anyone who's in need of a job or just want to help tackle the virus. + +[https://www.bbc.co.uk/news/business-51976075](https://www.bbc.co.uk/news/business-51976075) + +Edit - Also just want to add that I went to Sainsbury's a few days ago and saw that absolutely none of the staff were wearing face masks or gloves. Surely this is the least they can do to protect their own staff and customers. If anyone sees this next time they make a trip to the supermarket, it might be worth mentioning this to the floor manager. +With the competition getting stiff these days, I'm having a hard time deciding between the three with a casual Robinhood on the side. + +Some of the comparisons or information in general online are outdated these days, so I'm asking for help here. +I was asked this during an interview and I was wondering how others would answer it. You're supposed to walk through the components of the GDP equation. +Alice is 100 times better at X than Bob. + +Alice is 100 times better at Y than Bob. + +Who has the comparative advantage at X? + +Who has the comparative advantage at Y? + +Please explain your answer. +I've heard about China and Russia working together to create a new reserve currency. But I gotta admit, I don't really understand reserve currencies. Apparently, countries adopt the dominant superpower's currency as a reserve currency to do trade with other countries for commodities like oil to avoid changing their currency to the other trade partner's currency. That much I do get. But I have a couple of questions: + +1) why is it beneficial for a superpower to have other countries conduct international trade in its currency? + +2) How do countries acquire the reserve currency? do they buy it with their own currency? + +3) Is this reserve currency only used by the states to conduct trade? + +&#x200B; + +sorry if I'm too confused. +after seeing [this](https://www.reddit.com/r/EnoughTrumpSpam/comments/5qswfm/math_that_triggers_chumpanzies_you_know_what_to_do/) I figured a good use of my time would be to read up on the world's avocado market + +and I saw this [washington post article](https://www.washingtonpost.com/news/wonk/wp/2015/01/22/the-sudden-rise-of-the-avocado-americas-new-favorite-fruit/?utm_term=.743be25c026a) which states that 85% of the US's avocados consumed are imports, but I also saw this [website](http://www.agmrc.org/commodities-products/fruits/avocados/) which states that the US actually exports Avocados back to the same countries that import to it. + +How does this make sense to do? + +Why is the US exporting avocados when it can't reach its own demand? and why is mexico buying from the US when they produce more than their demand? +This pandemic is going to cost a lot of ,money for every country. + + +Norway for one is very lucky since they have a big piggy bank that they have been saving up +thanks in large part to income from the oil sector. (Piggybank is well managed and invested in all sorts of different things. Now that they need a lot of money for the pandemic they reach into the piggy bank. This should mean that the money supply in Norway remains constant. + + +In Venezuela they have tried to increase the money supply and by doing so ( and other important factors but i am trying to learn by using an example) and their currency is work very little now. + + +Years ago in school, I was told in a class that if you increase the money supply in a country rapidly the value of the currency would diminish accordingly. + + +In my observations since this seems to be true with one big exception, the country I live in. + + +When the feds announce trillions and trillions of dollars worth of help on very short notice, +I am not aware that they raised the money somehow. They didn't have time to sell obligation I would thin, they did not announce that they borrowed it from another nation, and as far as I know, they dont have access to a supergiant piggy bank. + + +Is it true that the US can and does invent all the money they want and the US currency remains strong in spite of it? But that this privilege is not granted to other nations in the world? +Can someone explain to me what sociology is and how it differs from economic analysis of non-market interactions? Are there any good textbooks that don't meet the stereotype of "Postmodern Marxism" and could appeal to people who study econ. + + + +Ok, I'm asking this in part because I'm British and Corbyn's Labour seeming to be gaining ground, so if that context is helpful I'm just putting it out there. + +It seems to me like there is a lot of criticism in the mainstream press and from outlets like the Economist of socialist parties and policies and I'm wondering if this is an ideological thing or if socialism is simply not economically viable? Is there anyone on here that is economically literate and also a socialist? + +This isn't a loaded question, I'm not a labour supporter I'm just curious as to why Socialism always seems attacked on economic grounds. Is it a partisan issue or is it simply not a creditable economic framework? +I’m a senior in high school with a growing interest in economics and other social sciences(History and politics). I also perform well math wise (I just passed my AP Calculus AB exam as a junior and am looking forward to passing AP Calculus BC too). I figured economics is a good mix of the two. Next year I plan to apply at Cal State University Long Beach for a major in economics and maybe a minor in some other social science field. For my senior year in high school I signed up for AP Macroeconomics and AP Government to further study both subjects. Is there any advice or things I should know before beginning this career path? Are the jobs just office work(I really don’t want to be in an office all day but rather have a job with a lot more opportunities to socialize/discuss with other people). And is there anything I should be ready for while studying in college(difficultly/people)? Thanks :) +I'm not very well read on arguments against counter-cyclical fiscal / monetery policy. I do wonder that if we are interested in efficient allocation of resources, should we not intervene in the business cycle if it means providing extra demand to businesses that would otherwise be too inefficient to continue? If labor and capital are being used inefficiently in certain firms then maybe it/they would be better to be liquidated or let it go. They then could be placed or find a position with a more efficient firm. It seems if interest rates are low, and the federal reserve is providing extra demand this is effectively propping up a less efficient combination of firms that a recession would otherwise remove. + +&#x200B; + +I guess in general I'm looking for arguments for/against counter-cyclical fiscal / monetery policy or perhaps historical debates or resources to read through. +Now I'm studying science economic in my university, And I study programming alone at home. + +and wondering how can I combine these two areas, please Give me some ideas and advice. +Looking for a subjective economic view not a politics debate + +I thought they were stunting GDP growth in the SR but would prove to be economically beneficial in the LR? Are these tariffs long over due and needed to even the playing field or are they ill advised? From an economic viewpoint, I’m having a hard time understanding if these are the correct thing to do? +I’m thinking inflation wouldn’t jump much because the government wage subsidies are substituting for lost private wages, so it’s not as if the economy is being flooded with liquidity over pre-covid amounts. + +Even if there was an inflationary spike, would it be quickly dissipated due to it being a one-off? + +And the markets wouldn’t be spooked in to a sudden capital outflow because every other wealthy country would be doing the same. + +So economists, would it be feasible for governments to simply agree to erase the expenditure and suffer any adverse reaction? Would any adverse reaction be worse than saddling government finances with huge debt for many decades? +According to graphs like this: http://www.goldcore.com/ie/wp-content/uploads/sites/19/2015/05/goldcore_chart4_14-05-15.png + +Global debt as a percentage of GDP remained pretty stagnant until the early 1980s. This massive increase since then has seemingly directly correlated with the decline in global interest rates starting at that time. + +I'm just wondering what at that time caused the massive increase? Was it the deregulation of finance and lifting of capital controls or something else? +\[x-post /r/PoliticalDiscussion: [https://www.reddit.com/r/PoliticalDiscussion/comments/d26tfq/what\_if\_we\_applied\_free\_market\_concepts\_to/](https://www.reddit.com/r/PoliticalDiscussion/comments/d26tfq/what_if_we_applied_free_market_concepts_to/) \] + +I've been thinking about Libertarianism lately. While I disagree with most of their ideas (I think big governments are better), I think the fundamental Libertarian idea makes sense. We did not agree to become part of a particular society; we were merely born into it. We should be able to easily leave a society if we don't like it. + +I think of our modern world as an oligopoly, where each of the \~200 countries are corporations. However, for a free market, we need to get rid of oligopolies. In theory, anyone should be able to start their own country with their own set of laws. People can join whichever country they like and they should be able to choose to leave a country at any time. There would be a set of international laws dealing with interactions between countries. However, within a country, anything goes. + +In theory, I think this would be a good idea because I don't think there's objective morality. Anyone can create a country with their own laws based on that person's idea of morality. In practice, since land is finite, allocating land to countries would be troublesome. + +Ignore the fact that this would be impossible in the current state of the world, how do you think this idea is in theory? +I have a weird conception about inflation and the government taxation and I need help with getting it wrapped around my head. I have always thought that inflation decreases the purchasing power of the government, since the gathered taxes are worth less at t\_1 then t\_0 when it was gathered. Therefore, governments are oportunistics and would rather have inflation at a 0% so they can mantain their purchasing power. + +Now, M. Friedman says that inflation is a smart way of governments to increases taxes, without the knowledge of the consumer. The idea goes like this, as I found on the internet: + +"The arithmetic would work like this. Suppose we start with 100 pieces of money that each have a value of 10. The total spending power is 1,000. All of that is in private hands. Now, the government prints 25 new pieces of money. It can go make purchases with those because money is fungible. If there are now 125 pieces of money, but spending power has not changed, each one is now worth 8. The value of money in private hands (before the government starts spending) is now 8 x 100 = 800. Where did the other 200 in spending power go? It is now in the hands of the government, waiting to be spent, since they now have 8 x 25 = 200. Decisions about how to spend that 200 have been taken away from private actors and transferred to the government. " + +Now heres comes my question. Should't the above proposition only be possible, if the government is in control of both the fiscal and monetary policy? Most of the central banks in the world are independent of government control, and the government can therefore, NOT control inflation and therefore use this taxation method. +I don't get a particular phenomenon that I see here in Bangladesh. Non-profit jobs in NGOs and lecturer jobs pays much higher than for profit jobs. For eg. in NGOs manager level positions fetch 60K+ BDT per month while, lecturers fetch 75K+. However bank managers only get 30K. + +I am not an expert but this seems to go against the basic tenets of economics. That is, the more the profit the more likely that profit is likely to trickle down to employees. Also, all over the world finance jobs pays much higher than non-profit jobs. Generally lecturers and non-profit workers get much much lower pay then the rest. Yet here, its the opposite!! People claim its because NGOs get foreign donations. But even accouting for that (and even corruption) for profit sectors like finance should still pay much more. Besides that still doesn't explain the lecturer thing. Also keep in mind that training to become an NGO manager is not that time consuming, difficult or expensive compared to finance. + +Can someone explain this weird economic phenomenon? + +EDIT: I am talking about the salaries of Bangladeshis in NGOs, banks, universities and not expats. +As the title says, I have a bachelors degree in IT and have been in the field for about a decade now. I’m working on my masters in Machine Learning and Artificial Intelligence but it’s a bit dull. I can program but I’m not a 10x by any stretch of the imagination. Currently I’m a senior systems engineer in the infrastructure division for a national car insurance company. Thing is, I really enjoy fiscal policy and how the markets work and how to maximize wealth. I love math too so I think economics would be great. I really like the intersection of philosophy and economics too. + +Any suggestions or advice on what I can do if I finish my masters in economics instead? +I'm about to start uni and would like to widen my scope as to certain careers I could follow as at this point I still feel rather unsure. Any help would be much appreciated. +As I understand it, dividends are generally taxed at lower rates. + +What would be the effect of simply requiring all dividend, interest, rent and other capital income to be declared as personal income on one’s personal income tax return? + +Would this lead to greater tax progressivity? + +Would this cause deadweight loss and disincentivize investment? + +Would this have little to no effect? +The argument for patents in pharmaceuticals often goes: without patents, the research and development costs are often too high for anyone to be incentivized enough to pay them. Without patents, other companies will "free ride" on the R&D of the R&D heavy companies. How much has this been studied in the pharmaceutical industry? I'd love a summary of something like "50% of drugs being used today would not exist without patent law." And I'm open to whatever the evidence seems to point to. +I heard that in the US the income tax was more than 90% when above 3,9 millions (considering inflation) in the 1940's, 1950's and 1060's, which forced investors and business owners to re-invest in the business (which was the goal of the tax) creating more competition and employment. In the 60's and 70's the tax was being reduced but still up to 70% above 1,2 millions. It was with Ronald Reagan the income tax was reduced to about 39% for income above 150-200 thousand and it haven't change much since. + +What was the cause of such decision to lower the tax on high incomers? + +EDIT: I am referring to Top Marginal Tax Rate. +\- Access to high-status social networks + +\- Family members who are alums of prestigious universities + +\- High-quality upbringing and socialization + +\- Advantageous systemic discrimination (i.e. "privilege") + +\- Investments in lobbying & other forms of political influence + +\- etc. + +I understand that these things are not normally counted as capital, but...why not? Don't they function in essentially the same way? They are privately owned, unequally distributed assets which strongly tend to increase a person's income over time. They have little to do with the labor of the people they benefit, and are very often inherited from wealthy forebears. In some sense, they are even salable--an expensive private club membership will buy you access to high-status social networks, a large donation to a university might buy you a family member who is an alum, a home in a nice neighborhood (or private school tuition) gives your children access to high-quality primary education, and so on and so on. + +I ask because I've started to read a little bit about Piketty and his critics. The consensus seems to be that "r > g" is almost trivially true, but doesn't obviously drive inequality, because other things like education, automation, globalization, tax policy, etc. must also have an impact. + +But when a mediocre failson graduates from Wharton with a virtual rolodex full of valuable contacts, shouldn't most of his future income rightly be counted as a return on his family's capital? When Apple shareholders are spared the costs of globalization that must be paid by American factory workers, isn't that protection from risk ultimately a gain for capital at the expense of labor, over and above any change in the price of AAPL? And when a lobbying firm hired by the Koch brothers succeeds in promoting favorable legislation, does that not represent a return on an investment of capital? It seems to me that any functional definition of "return on capital" must include these sorts of things--in which case Piketty's thesis seems a lot more plausible. +Please help out a confused fellow. I’m sure a lot (if not all) of you have realized just how crazy gas prices have risen in recent weeks. I’m wondering what contributed to such a rise, this can’t just be the cut off from Russian imports of oil right? I read that less than 2% of our supply came from Russia, shouldn’t this only account for a 2% increase in gas prices? Or is that not right? +In my country local governments guide housing construction. + +Some local governments, like those in Amsterdam, have moved towards using higher quotas for affordable housing. + +This means that for every X units an investor/corporation builds a certain percentage of these have to be "affordable" (like 30-40 percent). + +Is this a good policy or a destructive one? What would be the alternative to ensuring lower income people could remain in the city? +Nothing of value is created and still the money everybody gets out of it is bigger than the amount they invested in it. +How is that possible in theory? +And how do you justify it as a capitalist that somebody makes money in that way? +I am currently reading Yanis Varoufakis’ book about austerity and the events took place in 2008(especially the Lehman Brothers bankruptcy) are constantly mentioned. I am trying to find a source that explains the timeline to someone without an economic background (I a a software engineer) +I'm French and voted Macron, but I have some friends who are going to vote Le Pen because they say that the EU isn't good for France's economy. I'm pro-EU but I don't have any sound economic arguments to refute their simplistic dismissal of the EU. So what are the pros and cons of leaving the EU, and the same for staying in? +I'm interested in the philosophy and science of risk, as well as how to make social systems more resilient and more psychologically fulfilling. Would Taleb help me learn any of this? +Once in a while there's a news article about a ninety-something year old finally earning a bachelors degree. Some people attend college seemingly just for the social aspect or to meet their life partner (also sometimes referred to as an MRS degree), and then end up not working or working a job that doesn't require that education. These probably are a small minority of students, but I'd imagine that they are a small part of a big problem. The way I see it, these people are increasing the demand for college education and causing tuition prices to rise which in turn can lead to higher student debt. This also makes college entrance more competitive for those who actually want to work in their field, sometimes enticing them to go to less prestigious schools. Are these students bad for the economy? Is this a type of market inefficiency? +Most economists advocate a carbon tax to deal with the negative externality that CO2 pollution causes (climate change). There are probably plenty of other taxes like these, but there are still a lot of externalities that are left unaddressed both positive and negative. + +The Libertarian view on the market is that the government should not interfere with prices. However, even conservative economists like Milton Friedman have, in the past, suggested taxing pollution as a way of dealing with the problem. This supposedly sends a signal to entrepreneurs to create technologies that don't pollute or pollute minimally. + +Are there any economists that advocate taxing every negative externality / subsidizing every positive externality, as opposed to regulating? That is, rather than forbidding certain behaviors entirely and encouraging others, what would happen if we simply put the appropriate price on them instead? How well would a system like this work? +I'm no expert at economics, but a capitalistic society such as the US that bails out companies after just a few weeks of economic hardship doesn't make sense to me. These companies wouldn't necessarily be "bailed out" if the economy was booming, so why does it make sense to bail them out when the economy collapses? Obviously, people will lose their jobs, but they will ultimately receive money from the government that would have been used to otherwise bail out those companies. Wouldn't it make more sense to give the money to the people and let the corporations fail? +Based on the concept of division of labor it lays out that people should put their work hours in their own field of expertise and use trade as a mean to get things outside their field. But this standard doesn't seem to apply to cooking food. we are not expected to build our own furniture to save money. so why are so many people cooking at home to save money. +When I calculated it myself, it was really disturbing figure, far exceeding 100k. I simply took the US GDP and divided it by all part time and full time workers. I'm an attorney and I make below average under the calculation. + +So what gives? Am I missing something? Educate me please! + +Edit: I don't mind being down voted but some sort of response would be nice too. If it's a dumb calculation, let me know why. + + +So I'll provide a little backstory on myself: + +I am a graduating senior that will have an undergraduate degree in public administration. I'm currently a public policy intern at a state capital, and they recently offered me a full-time job out of college as a research analyst. + +Over the past few years, I've become more and more interested in economic science, due to my interest in Government and Politics. The field fascinates me, as a large amount of Public Policy has to do with economic science. I've read Hayek, Sowell, Friedman, as well as other academic papers on various subjects dealing with Economics. + +I'm asking if a masters in the subject would be a good idea, because I have no prior academic experience in the field. I have never taken an econ course as an undergrad, and I am worried that seeking a masters in economics would be overwhelming. I'm taking the time to learn it on my own in the mean-time, however that is different from learning the subject in an academic setting. My end goal if I were to complete a masters in economics is to become a government economist or work within a think tank. So with that being said, any suggestions? + + +Presumably many of the destroyed buildings would have had loans drawn against them, so with them gone what if backing the loans and giving them value. +I used to shop at Walmart quite frequently. I remember thinking I was not willing to pay extra to shop at a cuter store, e.g. Target. +Well, lo and behold, I have found Target is beating Walmart prices on several items. My skepticism started when Walmart raised the price of their regular house brand mustard from $0.58 to $1.00 in one fell swoop. Meanwhile, Target still sells theirs for $0.65. There are several similar examples. +This is just to say, it seems like Walmart has joined the myriad companies trying to get away with raising prices more than is warranted due to increased costs. As a result, I am second guessing everything I buy from Walmart and am not shopping there as frequently. +This forum I think, is supposed to be for the poor and struggling. If you got your stimulus check and paid off some bills - good for you. And, you are going to right back into debt if you don't make more money. + +A lot of us here are trying to figure out how to get food. +Please use this thread to have discussions which you don't feel warrant a new post to the sub. While the Rules for posting questions on the basics of personal finance/investing topics are relaxed a little bit here, the rules against memes/spam/self-promotion/excessive rudeness/politics still apply! + +Have a look at the [FAQ](https://www.reddit.com/r/financialindependence/wiki/faq) for this subreddit before posting to see if your question is frequently asked. + +Since this post does tend to get busy, consider sorting the comments by "new" (instead of "best" or "top") to see the newest posts. +I'm 30F, been steadily saving for FIRE for the past 5 years. I've been in a high powered tech career and lately I've been feeling really pigeonholed and stuck doing the same thing over and over, basically working with a niche software. I get paid really well to do it and it's pretty low stress for me. But I'm bored. I want to do other things and I don't feel like staying in this job is going to help me get the skills I need to do something else. + +I've been offered a position with about a 20k pay cut. I'll learn new things for sure, but I don't know how much I'll like the new things. It's an unknown. I was leaning towards taking the job just to do something different but I'm hesitating thinking about the financial sacrifice. 20k after tax is still an extra 1k per month. I could do so many things with that! I could eat out at nice places, see shows, travel, buy nice things. Maybe those things would make me happier? Plus the raise schedule is super divergent, like 8% annually at my current job vs. 3% at the new one. Over several years that's going to be a huge difference in savings. + +I live a pretty frugal lifestyle. I spend less than 30k a year. Truthfully I could take this new job AND buy stuff if I wanted to, but somehow deciding to keep my job makes me feel like I'll have permission to spend a little more because I'm choosing to do something that I don't enjoy much. Then again the entire reason I started looking for something else was because I felt like I had enough money saved to try to pursue more career satisfaction as opposed to just socking away money to reach FIRE where I won't know what I'll be doing. The thing is, I don't know if this new job will help with career satisfaction or not. It may just turn out to be boring after awhile too. + +Anyone have any thoughts? Did you choose to stay in a more lucrative career even though it wasn't as personally fulfilling to reach FIRE faster or to live a more luxurious lifestyle? Was it worth it? + + +UPDATE: + +[https://www.reddit.com/r/AusFinance/comments/rat95x/update\_keen\_to\_hear\_peoples\_experiences\_of/](https://www.reddit.com/r/AusFinance/comments/rat95x/update_keen_to_hear_peoples_experiences_of/) + +&#x200B; + +Hi Ausfinancers, + +I'm keen to hear peoples experiences with changing careers after 30 as I am at a bit of a crossroads and would like some help. + +I'm nearly 34, I finished highschool but have no other formal education and have been a tradesman (timber flooring) since I was 18. I was a subcontractor for the first 6 odd years. For the last 10 years or so I have run my own company and I employ 1-4 people depending on the work load. I work mostly high end domestic. I've come to a point where my body is breaking down and I don't think I can be doing this much longer. I have a friend that's fairly high up in a large project managment company and she thinks I would have a lot of tranferable skills and that I would be good at the job. She has said she can get me an interview but I think I would like to do some study in this field first before I make the change. I am confident and outgoing, excellent with people and my current job is managing projects albiet on a smaller scale. I just need to upskill I think, mostly with the computer related things. + +I'm reaching out to the community as it's a big scary thing contemplating changing what I've done my entire life and I'm hoping reading some real life experiences might help guide me. +Talking about money being created from nothing by the banks, just adding 10,000 to the number each citizen (above the age of 18) has in their online bank accounts. + +1. What would be the consequences of this? + +2. Would the value of the dollar decrease? If so, how long would that take and what (specifically) would cause that to happen? + +3. How would this affect other currencies around the world? + +4. Would the U.S. economy be booming after this? Would other economies around the world be booming after this? If so, how long might this last if this was a one time thing? + +5. Could this negatively affect banks somehow (aside from the currency being devalued)? Might this cause a bank run that could put some banks out of business? + +This idea behind this question comes from the proposition some UBI supporters make where they say that the Federal Reserve should just print the money needed for the UBI and inject it into everyone's bank accounts every month. They claim that if the Federal Reserve can bail out Wall Street with a $700 billion bailout, why can't they bail out Main Street in the form of a UBI for roughly the same amount? I see both ideas as being incredibly short-sighted and doomed to result in a devaluation of the currency, high levels of inflation and other issues. However I do think a UBI *could* work (and that it would totally reinvigorate the economy) if it was paid for via a high consumption tax thus completing the positive feedback loop that would keep the money flowing as it is meant to. +Hi all! Yesterday i've tested my bot trade signals and results are really strange (here they are https://drive.google.com/file/d/1sAR61QObC-8jA4I8E5yYKRxjxZCjYEiY/view?usp=sharing) + +Bot programmed to trade on 5min chard and trade within the timeframe +BUY on candle.high - price step +SELL on candle.low + price step + +What's wrong with it? Math is correct, but result is very impossible (imho). What am i missing? +I feel like I understand the basic process for the IPO. + +1. The company needs to raise cash +2. The company hires underwriters +3. The underwriters form a syndicate and sell the shares at a specific price on a specific exchange +4. The company gets its cash. + +The big point that I can't wrap my head around is: how does the company raise cash when all the shares were previously owned by private shareholders? Do the shareholders at the time of the IPO (the ones that owned the private company) get diluted out by issuance of new stock? +[https://www.nbcnews.com/tech/tech-news/restaurants-rebel-against-delivery-apps-cities-crack-down-fees-n1211456](https://www.nbcnews.com/tech/tech-news/restaurants-rebel-against-delivery-apps-cities-crack-down-fees-n1211456) + +&#x200B; + +Also relevant: [https://www.reddit.com/r/investing/comments/gm28ln/the\_meal\_delivery\_service\_business\_model\_doesnt/](https://www.reddit.com/r/investing/comments/gm28ln/the_meal_delivery_service_business_model_doesnt/) + +&#x200B; + +Personally I think that all these services are too expensive, and calling restaurants and picking up is the most cost-effective for consumers (EDIT: and for restaurants). I don't think all the food delivery services will last for too long. + +&#x200B; + +EDIT: People are not reading the article and just saying "Well, it works for me". The point of the articles is that the fees are too high for the restaurants. To add a third party (the apps) make this an unsustainable business model. +The same thing was happening during the beginnings of the internet era. If someone was kidnapped or murdered by someone they met on the internet, media blamed the internet. + +Decades later, people are over it because internet is a necessary part of their lives. + +The world’s ‘regulated’ banks are laundering more than $2 trillion every year. + +If that was a case of Cryptocurrency, there would be numerous “BREAKING NEWS” topics, posts, titles about how Crypto is ruining the whole world financial system, helping the criminals and all kinds of panic stories. + +Will we ever get importial news? Did you know that terrorists sometimes drive in cars and are drinking bottled water? Did you know that when you don’t breathe you die? And also that every 60 seconds in Africa, a minute passes?? Wow. +Good lord people....if DFV is back on Twitter.....it means he is confident enough, or his lawyers are, that he can interact with the public again. + +Holy shit everyone think about it. DFV might have stopped posting (on his own accord or at direction) because he couldnt risk being targeted as a manipulator and “causing” the margin call/MOASS........ + +DFV posting now might mean the margin call has has happened, this is pure speculation to be fair. He can’t inadvertently cause something with a post if it’s already happened. + +Holy. Shit. + +HOLDDDDDDDDD. + +Edit: wrinkle ape below mentioned it could be as simple as a lawsuit being resolved or dropped that was keeping him quiet. Still exciting having that giant balled Diamond Handed Ape back! + +Edit2: wording for clarity. + +Edit 3: last edit before bed. I suppose my post could read that DFV has some insider info. I’m not suggesting he does. I am suggesting that the dude smart enough to have foreseen ALL OF THIS to perhaps be smarter than the average Ape. The price that this house of cards crumbles....I bet DFV knows the price tag. +Hey guys! Looks like I'm several hours late to my own AMA, but here it goes. I sort of have an excuse. [I was hanging out at a beautiful lake in the mountains of Slovenia](https://twitter.com/RootofGoodBlog/status/884792524501655558). + +I retired at age 33 back in 2013. A couple of years later my wife joined me in early retirement. We live in Raleigh, NC, have 3 kids from age 5 to age 12. During the school year from September to May we stay in Raleigh and then during the summers we hit the road for a big family vacation. [Currently half way through vacation in Europe for 9 weeks](http://rootofgood.com/summer-family-vacation-europe/). + +I worked as a civil engineer for about 10 years before retiring. My wife worked for an investment bank as a financial analyst. Each of our salaries topped out around $70,000 each, and we routinely saved 50-75% of our income. + +Raw stats: current net worth is $1.85 million, with $1.7 million of that being our investment portfolio. We [budget $40,000 per year](http://rootofgood.com/budgeting-in-retirement-2016-edition/) but don't always spend that much. I blog at ["Root of Good"](http://rootofgood.com) and over the almost four years of blogging, the income from it has grown to the point that it covers most of our routine living expenses. This was unanticipated and I don't currently have a plan to spend more money as a result of this new source of income, but I'll tackle that issue in the future if the revenue stream continues. + +Housekeeping: I'll be hanging around for a couple of hours, let's say 5 pm Eastern and trying to answer what I can. Otherwise I'll follow up in the next few days as time allows. Of course I'm in the middle of a cool vacation and there are waterfalls, river valleys, scenic views, and mountain trails that demand my attention, so I'll do the best I can do. :) + +Update: It's 6:15 pm Eastern, and 12:15 am in Slovenia where I'm at right now. Time for bed! I'll check in over the next few days and follow up as I can. +Hey guys! Looks like I'm several hours late to my own AMA, but here it goes. I sort of have an excuse. [I was hanging out at a beautiful lake in the mountains of Slovenia](https://twitter.com/RootofGoodBlog/status/884792524501655558). + +I retired at age 33 back in 2013. A couple of years later my wife joined me in early retirement. We live in Raleigh, NC, have 3 kids from age 5 to age 12. During the school year from September to May we stay in Raleigh and then during the summers we hit the road for a big family vacation. [Currently half way through vacation in Europe for 9 weeks](http://rootofgood.com/summer-family-vacation-europe/). + +I worked as a civil engineer for about 10 years before retiring. My wife worked for an investment bank as a financial analyst. Each of our salaries topped out around $70,000 each, and we routinely saved 50-75% of our income. + +Raw stats: current net worth is $1.85 million, with $1.7 million of that being our investment portfolio. We [budget $40,000 per year](http://rootofgood.com/budgeting-in-retirement-2016-edition/) but don't always spend that much. I blog at ["Root of Good"](http://rootofgood.com) and over the almost four years of blogging, the income from it has grown to the point that it covers most of our routine living expenses. This was unanticipated and I don't currently have a plan to spend more money as a result of this new source of income, but I'll tackle that issue in the future if the revenue stream continues. + +Housekeeping: I'll be hanging around for a couple of hours, let's say 5 pm Eastern and trying to answer what I can. Otherwise I'll follow up in the next few days as time allows. Of course I'm in the middle of a cool vacation and there are waterfalls, river valleys, scenic views, and mountain trails that demand my attention, so I'll do the best I can do. :) + +Update: It's 6:15 pm Eastern, and 12:15 am in Slovenia where I'm at right now. Time for bed! I'll check in over the next few days and follow up as I can. +Please use this thread to have discussions which you don't feel warrant a new post to the sub. While the Rules for posting questions on the basics of personal finance/investing topics are relaxed a little bit here, the rules against memes/spam/self-promotion/excessive rudeness/politics still apply! + +Have a look at the [FAQ](https://www.reddit.com/r/financialindependence/wiki/faq) for this subreddit before posting to see if your question is frequently asked. + +Since this post does tend to get busy, consider sorting the comments by "new" (instead of "best" or "top") to see the newest posts. + +I’m very lucky to be debt-free, so calculating my total net worth has been a very simple process of totaling up my checking, savings, retirement funds, and investments. + +But I am preparing to buy my first car, and I’m not sure how to incorporate it into my calculations. I assume I need to subtract the amount I still owe on the car, but I’m not sure how to account for the value of the asset I’ll be purchasing, because isn’t the car itself a part of my net worth? How should I reflect this money I owe vs. this thing I now own and balance it with my other assets? +Has anyone written yours down yet? Mine are: +1. Pay 5% more towards the principal of my HELOC +2. Make an extra mortgage payment towards principal +3. Earn at least $1000 in side hustles +4. Stick to my sinking funds +5. Update my budget monthly + +I feel so focused this time around! +Married couple in our 30s + +Combined income about $150k +I max out my Roth IRA ($6000 year) +$12000 year to 457B +8% of my income toward pension + +About $20k sitting in savings +No debt besides $280k mortgage + +What’s next? Open a brokerage account? +Title says it mostly. + +I can’t decide if I should save up to invest in a down payment or just stick to investing in ETFs etc. + +I’m 27 with around 2-3k in savings each month. No debt. I’ve just started building my portfolio in the last couple years. + +Getting the house would mean not investing for a while to save up for the 20%. This makes me nervous because I’ve only ever done typical investing (mainly ETFs with some bonds and other diversification). + +What have other people done? Is it a bad idea to just keep investing as I am then selling a bunch of my holdings and use that as a down payment? + +Not necessarily in a rush to buy a house, but it seems like a good investment from what I’ve read. I understand there are many types of approaches to buying. Happy to discuss those various avenues as well, but my focus is on how to best approach saving for a down payment if I decide to buy. + +Thanks for any advice in advance. +Some relevant info: + + +Our RothIRA is already maxed out for the year, and will be for the next 3. Her grandmother died and left us enough cash to max it out for 5 years. + + +Edward Jones holds the excess cash and instantly moves the maximum amount over to our IRA every January 1st. + + +My wife is a teacher and has a 403(b) with the county she contributes to each paycheck. + + +I am self employed as a sole proprietor. I do not have anything in place for myself through my business. + + +I do still have a 401(k) from the 10 years I worked at my old job until I quit to start on my own. It is just sitting there. + + +We have no debt (besides our new mortgage). We do not use credit cards and our cars are paid off. + + +I am 27, she is 28. +My spouse and I moved recently and are looking to roll over our 401ks from previous jobs to individual Roth IRAs (one for me one for him). In our area Merrill Lynch seems to be the go-to for long term investments, I think because the staff/customer service is pretty good, but I keep reading that discount brokerages like Vanguard, Schwab or Fidelity would be better. My husband also already has a mutual fund with Merrill Lynch that was created for him when he was young that we haven’t really touched (but plan to start actively managing). Does anyone have any personal experience that would suggest not going with Merrill Lynch? Would it be better to go with Schwab, Fidelity or Vanguard? +Has anyone written yours down yet? Mine are: +1. Pay 5% more towards the principal of my HELOC +2. Make an extra mortgage payment towards principal +3. Earn at least $1000 in side hustles +4. Stick to my sinking funds +5. Update my budget monthly + +I feel so focused this time around! +It's a bit of a general question, but with all 401k plans (and other vehicles) aiming for wealth accumulation I was wondering if you have a precise amount in mind for retirement or if will just see where the market leads you and manage your lifestyle accordingly. I personally think that whatever you target (and however you do it), it should be well-defined and inflation-protected to help you secure a stable standard of living throughout retirement! +My company just instituted a 401k for employees, effective for the last 3 paychecks of the year and then continuing onward. Wanting to get the most out of it, I opted to have 100% of my income go towards the 401k for the remainder of the year. At that rate, it will still fall short of the maximum annual contribution of $19,500. + +However, my employer told me that their CPA cannot arrange this. They said that I must leave a certain amount left in each paycheck to pay the withholdings, which is about $1000 per paycheck. This doesn't make sense to me... I thought the whole point with 401k contributions is that there are no taxes and therefore no withholdings? + +The one scenario I could be wrong in is if the withholdings are collected back when I file my 2021 taxes. Is that the reason why? Or is the CPA wrong here? + +Update: somehow I convinced the CPA they were wrong, and now I won't have my Federal and State taxes deducted. FICA and others still will be. Thanks everyone for the helpful advice! +I am a 20 y/o college student and want to start investing or saving my money for the future and retirement. I have no idea where to start. I know I am lucky and have a solid amount of money saved up already plus a Roth IRA I just opened. I'm not planning any major purchases in at least the next two years, so I'm looking for advice on how much to invest/save and where to put it. +Hello all, I’m currently 27 years old living in small town Ohio, and have a bit of a unusual situation financially. I work in traveling construction management, and to make a long story short I live in corporate housing ~25 days out of the month out of town and come home for those other couple days every month. Since I’m gone so much, I have decided not to buy a house if I’m only going to be there a few days a month, so I just live with the parents those days when I’m home. And the corporate housing is paid for by the company, so I have no housing expenses. For the days I’m out of town, I get $65 a day in per diem on top of salary, so really no living expenses either. And finally, I have a company vehicle with a gas card, so no vehicle expenses. Basically no expenses at all. + +I make around $100k a year, and currently put 30% into a 401k after tax (Roth), max out my Roth IRA every year, and I max out my HSA. I just got through paying off some CC debt and student loans, and I’m starting to see my savings grow by roughly $3500 a month. + +I know that traveling like this isn’t sustainable for an entire career when I want to settle down and start a family, but I plan to do it as long as I can. For round numbers, say 10 more years. While I’m living with this high of an income / expense ratio, I’d like to be aggressive with my investments, then be able to be more safe when I decide to have a “normal” life. I don’t want to have an investment strategy like buying and selling stocks that requires a lot of attention, but I’d still like something aggressive. What are my best options for a situation like that? And also, just any advice about other ways I can take advantage of this situation even more would be great! Thanks in advance! + +Edit: Something else I forgot to mention. My company is ESOP, and they contribute roughly 10% of our salary into stock for employees. So about 10k a year for me now. I try not to factor that into my financial picture too much in case worst case scenario and none of that is there if the company goes under or something, but worth mentioning. +My company just instituted a 401k for employees, effective for the last 3 paychecks of the year and then continuing onward. Wanting to get the most out of it, I opted to have 100% of my income go towards the 401k for the remainder of the year. At that rate, it will still fall short of the maximum annual contribution of $19,500. + +However, my employer told me that their CPA cannot arrange this. They said that I must leave a certain amount left in each paycheck to pay the withholdings, which is about $1000 per paycheck. This doesn't make sense to me... I thought the whole point with 401k contributions is that there are no taxes and therefore no withholdings? + +The one scenario I could be wrong in is if the withholdings are collected back when I file my 2021 taxes. Is that the reason why? Or is the CPA wrong here? + +Update: somehow I convinced the CPA they were wrong, and now I won't have my Federal and State taxes deducted. FICA and others still will be. Thanks everyone for the helpful advice! +My husband and I are in our early 30s and at a crossroads with what to do with our finances. I believe we need to hire a financial advisor and he believes we need to just keep doing what we’re doing (blind saving). We’re in good shape but we agree that we don’t know what we don’t know. + +Below is a general summary of our finances. Does anyone have guidance or tips on how we can better steward our finances to prepare for the future? Or things you’d do (with your current knowledge) if you were in your early 30s with these finances? + +Background: We have stable “essential” jobs (if you will), one child with hope of another, living in California with no intent to move. + +Financial Summary +(average values, rounded for ease of discussion) + +Monthly income: $9,000 + +Monthly expenses: $7,000 ($4000 in mortgage, remaining towards us, 1 child, 1 live-in grandparent) + +Debts: +1) Mortgage with $500,000 remaining. 30y fixed at 3.75%. Paying additional $600 per month (26 years remaining). +2) Car with $5000 remaining. 5y, zero interest. + +Retirement: Maxing out 401K contributions only. + +Savings: $270,000 in a traditional savings earning 1%. + +...That’s it! +We have a problem. We now have a small group of core devs who are now developing an altcoin under the guise that it is still bitcoin. + +[This](https://medium.com/@sdaftuar/how-the-bitcoin-experiment-might-fail-7f6c24f99ecf) is what it has got to. A bunch of unsubstantiated opinions and logical fallacies with the sole intent of creating FUD. + +Lets go through and dissect this. + +>Gavin Andresen has been advocating strongly that Bitcoin’s blocks need to be permitted to be much larger. +Earlier this year, he announced plans to release code that implements larger block sizes via a “hard fork” — a non-backwards-compatible change — against the wishes of most other Bitcoin Core developers, and encourage miners and merchants to adopt his code. + +This makes it seem like people are not asking for this change, which they are. + +>Yesterday, he released a draft BIP, a proposal for how the protocol should change, along with draft code that implements his proposal. But even if one agrees with Gavin’s vision for what the technical features of Bitcoin ought to be, his proposal is an irresponsibly risky path forward. + +If everyone agrees, how is it irresponsible? + +>This has nothing to do with what block sizes should be, but instead about Bitcoin’s much greater experiment: in the absence of a central authority, can people come to agreement on what money to use? + +Here we see they try and move the goal post to try and say the debate is actually not about block size limit (since they already lost debate before it started). + +>It’s useful to step back and think about why anyone might ascribe any value at all to a virtual currency. There are certainly many technical features a currency must have to be a candidate for being worth anything (if you can’t transact it, or if there’s no way to secure it, or there is an infinite amount of it, it’s probably not very useful). But looking past the technical issues, the more fundamental test you’d apply when deciding whether to use a given coin as money is whether you think everyone else will treat it as money too. In particular, if at some point in the future you worried that what you thought was money was not actually considered money by others, then you would probably choose something else to be a store of value. + +He is trying to insinuate that bitcoin with a larger block size limit will be worthless. No evidence of course. + +> This is the most important lens through which we should view Gavin’s proposal. If you have a money that other people accept, under what circumstances should you change it to be a different, new money? That is exactly what a hard fork entails: Gavin is asking 75% of miners to switch to a new currency with new and different properties. If they do so, then they will trigger a permanent change to the consensus rules for those running Gavin’s software. The idea is that if everyone goes along with it and changes their software to match, then we can still call it Bitcoin, and the lack of backwards compatibility is a non-issue (since no one will be around running incompatible code). + +>So why might everyone switch to a new currency? One reason is if the current one is clearly broken — something like the March 2013 fork, where a latent bug in the reference implementation caused the network to split. In that situation, it was clear to everyone there was a problem, and running software that is buggy was clearly not in anyone’s interest (whether or not others kept running the buggy software). If a hard fork is required to make your money have any utility at all, you’re likely to choose to do it (as long as you believe your solution is the same one everyone else will be deploying!). + +>But if what you’re using isn’t clearly broken or if there are multiple incompatible choices of code to use to implement a bug fix, the decision is much more difficult. +Somehow you have to coordinate your actions with everyone else. And what if there are dissenters? Is it worth risking splitting the network in two (or more)? Under what circumstances is that risk worth taking? Naively, we might reason that a majority in favor of a given hard-fork proposal might refrain from advancing it if they believe there’s a meaningful minority opposed to it, because splitting the network makes the currency less valuable for everyone. + +Bitcoin is broken though. It's just that a problem has not arisen from it yet. It can be likened to a tooth on a gear in a large complex machine being broken. The machine works perfectly until that tooth is needed and then it stops working properly. Just because we haven't got to that tooth yet doesn't mean the machine doesn't need fixing. + +>However, the majority might employ some game theory of their own, and reason that if there are enough of them, then perhaps the minority will feel coerced into going along with a change, because the minority risks the same downsides to splitting the network that the majority does. By proposing a miner vote with a 75% trigger to hard fork the network, Gavin’s proposal is a big game of chicken — with no good outcome for anyone. + +This is completely opinion. It is my opinion that not changing the protocol because of an extreme minority is an even larger problem for bitcoin. This is what I would call 'real centralisation' rather than the completely ludicrous meaning of centralisation you come up with later on. + +>I think this is the existential question for Bitcoin (or any other decentralized digital currency). If splitting the network in two is an easy thing for a majority to decide to do in the face of obvious opposition, then each of us must worry that we might someday be on the wrong side of a future split. Equally, one could interpret such an outcome differently: if Bitcoin’s network can split because there exists some person or people who are able to change the currency against the wishes of others, then perhaps it’s incorrect to think of it as lacking a central authority. + +This is such a stupid way of framing this I don't even know where to begin. Firstly, the very fact that this argument has been going on for YEARS now shows that it is the opposite of "easy". You seem to have just swapped the word "possible" with "easy". +"if Bitcoin’s **original concept and functionality** can be co opted because there exists some person or people who are able to change the currency against the wishes of others, then perhaps it’s incorrect to think of it as lacking a central authority." FTFY + +>Taking either of these interpretations to their logical conclusion suggests that Bitcoin would be an essentially failed experiment. Because however you look at it, it would make much more sense to trust a known authority to run your digital currency (whether that’s a company or a government): many of the technical advantages of Bitcoin could remain and, indeed, future improvements could be more efficient to deploy, if we could jettison the technical baggage that comes from working on a decentralized currency. Of course, you also lose whatever hope you might have had that Bitcoin would be better than any currency backed by a central authority. Still, there could be something beneficial to society even in this case, and maybe Bitcoin could morph into a much better version of Paypal or Visa, and maybe that’s the local maximum that Gavin’s path forward could lead to. This may even be a net win for society compared with the status quo; however it would be an obviously disappointing outcome for many who have different, longer-term aspirations for the technology. + +This argument is literally "central authority = vast majority of bitcoin miners, community and nodes deciding for themselves rather than a very small group of specific devs". + +>It’s fair to ask, if 75% of miners voting on what the hard fork should be is a bad idea, then what is a better trigger? This is a central challenge with hard forking changes to Bitcoin — I don’t think anyone knows the answer to that question. Pieter Wuille brought up this topic on the bitcoin-development mailing list and pointed out that any trigger using miner voting as a component should have a 100% threshold for the vote, because the whole point is that hard forks should not happen before everyone has had a chance to upgrade, so if some miners clearly haven’t upgraded their software, then it’s risky to change consensus while blocks may still be mined on the deprecated chain (which could cause confusion for users who haven’t upgraded). I think that is a reasonable point of view, and Gavin’s response to that appears to be (from the draft BIP): + +Sure, so a single person can decide on what the decision is for the entire bitcoin network. What was that about "centralisation" again? + +>This statement leaves me wondering whether an increase in mining centralization might cause Gavin or others, when proposing a future hard fork, to reduce this trigger down further? Could a 60% miner vote be appropriate the next time someone presses for a hard fork if there’s a 38% hash-rate mining pool in existence? + +100% baseless conjecture. "What if next time Gavin wants to add in a contract that allows him to eat your first born child?" + +>The problem is more complex than this, because miners shouldn’t want to vote in favor of a hard fork if they don’t believe that users will want to switch. But we also don’t have a great way of knowing what code users want to be running + +I call this the "we can't know anything" argument. It is used when something that it is pretty self evident cannot be proved as a 100% fact. + +>(users themselves are likely not aware of the technical details that go into Bitcoin, and so sensibly rely on the advice of technical experts to decide what software is worth running). + +What he is saying he is "even if users do want a larger block size limit, they are all too stupid to decide". Which is obviously completely ignorant to that fact that a large percentage of the bitcoin community have been around for a while and in fact DO understand a lot about the technical details of bitcoin. + +>Still, miners shouldn’t want to trigger a hard fork unless there is obviously no meaningful dissent, for the reasons above — and surely a 24.99% hash power mining operation represents significant risk of the network splitting in a meaningful way. + +Maybe. So discuss the merits of **realistic** alternatives to the threshold rather than attempting to make the fork more contentious. + +>And that is not taking into account the already clear dissent from the people who are most expert in the field. Under some circumstances it may be difficult to tell whether there is unanimity or near-unanimity amongst people that a particular change to Bitcoin may be a good idea (say, to fix a known bug), but this isn’t one of those situations. + +Actually it has been pretty clear we have moved a lot closer to consensus within the technical community of bitcoin in the past weeks. The only dissent that is left is from people who are refusing to budge an inch. Screaming for 100% consensus while refusing to budge an inch is logically the equivalent of saying **"do what I say"**. + +>However, Gavin has a high profile, and as the technical leader of the project until last year, many still view him as the face of Bitcoin. He may have the power to sway users, merchants, and miners to go along with his code change against the advice of the other technical leaders. I urge rejection of consensus code changes that have not been accepted into Bitcoin Core, and in particular I would urge rejection of Gavin’s proposed code. + +People support Gavin not because he is the face of bitcoin but because he has actually made excellent well thought out arguments on all different levels; technical, economic and conceptual. He was worked to make a fair compromise which takes everyones opinions into account (other than people who are not working towards anything) while still trying to progress bitcoin as it was originally intended. + +This is contrary to yourself who has not provided a single relevant, technical argument and has only provide extremely weak logical arguments. + +>Much of the block size debate has been about technical tradeoffs, and especially concerns about scaling versus decentralization. + +This is the only technical argument I have ever heard from you and it is based on the false dilemma fallacy that; + +Block Size Limit > 1MB = 100% centralisation + +OR + +Block Size Limit > 1MB = more centralisation + +The first argument is obviously false. The second argument is less obviously false. It is likely that running a node requiring extra resources could decrease the **percentage** of nodes from users, but allowing bitcoin to scale will increase the number of users and therefore increase the **number** of nodes. At best this isn't an argument for either side since it's just speculation. + +>Virtually everyone working on the project appears to believe it is important and valuable to figure out how to scale the network’s capacity, but there are differing opinions about how to go about it. I expect we’ll see technical consensus ultimately reached about deploying a different solution to increase block sizes, to give us a way forward with a much lower risk of splitting the network. But whether or not you agree with Gavin’s technical view on block sizes, the philosophy behind decentralized currencies is fundamentally incompatible with deploying his code in the way that he proposes. + +Again, this is the "my way or the highway" approach. + +I originally thought that these devs were well intentioned. After reading this (and all the other posts), without seeing a single valuable argument against raising the block size limit, I have come to the conclusion that there are specifically deployed FUD tactics at hand to prevent or delay it from happening to turn bitcoin into the vision that they have for it. Back to my original point; these two devs /nullc and /adam3us plus a handful of what I call "helpers" are purposely trying to spread Fear, Uncertainty and Doubt. These are not intelligent or logical arguments even though they are coming from intelligent and logical people. The tactic is to call for 100% consensus while at the same time trying to create as much contention as possible, for example using the title "**How the Bitcoin experiment might fail**". + +What these people want is for users to solely rely on the lightning network and for bitcoin to become inaccessible to the average user. They will try to delay and prevent bitcoin being upgraded as long as possible and as soon bitcoin starts to reach it's transaction limit they will then use this to accelerate development of the lightning network and say that it is the only option. This is the reason why they are calling for the lightning network to be implemented first than the block size limit increase, because it would not be as successful if it was released afterwards. If you don't believe this what they want bitcoin to become as soon as possible, ask them. + +*Disclaimer: English is not my first language.* + +* *June 1st : Initial post* +* *June 2nd : Johnny, from Kucoin, answered* +* *June 8th : Complaint has been submitted to AMF (french authorities)* +* *June 10th : I answered Johnny (from Kucoin), to disprove his lies about Kucoin’s actions* +* *June 20th : I made public thread on twitter. Please help to like and share it <3* [*https://twitter.com/BlackMandrill/status/1538924930129186821?s=20&t=8tYy4oW\_PoplnDxwpLTXaA*](https://twitter.com/BlackMandrill/status/1538924930129186821?s=20&t=8tYy4oW_PoplnDxwpLTXaA) + +**At the beginning of May 2022, investors in Anchor protocol panicked and withdrew their funds ($15B) during a bank run. UST (Terra stable coin) unpegged. The Terra ecosystem collapsed. 50 billion has been lost (1). Some investors are devastated, some are ruined, some of them even committed suicide.** + +**Meanwhile, Kucoin exchange platform has manipulated the UST market to earn more than 33 million dollars and have impoverished their own clients.** + +**I will detail in this post how Kucoin took advantage of the Terra crisis to manipulate the market in its own benefit--how hundreds of Kucoin clients have lost funds and how I personally lost 540,184$ because of their market manipulation.** + +I will detail, as well, how Kucoin lied and hid what they were doing and how they banned dozens of customers on their Telegram customer service as soon as some of them published proof of Kucoin's market manipulation. + +For information, Kucoin is one of the biggest crypto exchange platform. Kucoin raised $150M from Jump Crypto with Circle Ventures, IDG Capital and Matrix Partners and has been founded by Michael Gan, Eric Don, Top Lan, Kent Li, John Lee, Jack Zhu, and Linda Lin. + +&#x200B; + +\*\*\*\* + +**Initial situation: I stacked my savings resulted from my professional activity on Anchor, and UST started to unpeg** + +December 2021, I decided to invest all of my assets in Anchor Protocol (that was obviously a big mistake). Almost 2 million us dollars I have made in 10 years of hard work with my web marketing company. I thought Anchor was solid, and UST would never unpeg for more than few hours. All of my assets were held through Anchor. + +On 8th May 2022, Anchor protocol investors started to considerably withdraw their funds. I withdrew 1,949,390UST and deposited them on my two Kucoin accounts. I made an order to exchange all my UST for USDT at $1 (that was probably my biggest mistake. That price would never have been reached). + +On 9th may, for the first time, UST unpegged dramatically down to $0,76. + +On 10th may, Terra decided to burn $1,5M in BTC to support UST. UST touched $0,93 before going back to $0,73. + +On 11th may, 11h00(UTC) UST went down drastically to $0,30. + +At this moment, after reading everything about Terra's situation, I made my opinion : Terra was about to collapse. The panic was too high. UST would never reach $1 again. I made calculations. By selling all my UST at $0,84, I would "only" lose my previous profits thanks to the protocol. I thought it was the price to pay to be sure not to lose 10 years of personal savings. I placed 15 orders to sell around $0,84 on my Kucoin main account waiting to see how the market would react. + +&#x200B; + +[My orders on Kucoin to try to sell my UST around $0,84](https://preview.redd.it/6l34rie881391.png?width=1105&format=png&auto=webp&s=f5770e238a38941ea075f4a0e98ea83175c968ad) + +[My orders on Kucoin to try to sell my UST around $0,84](https://preview.redd.it/hy0g8aa981391.png?width=1100&format=png&auto=webp&s=96799146c180a4e45989487902c96219bd8bf7a3) + +[My orders on Kucoin to try to sell my UST around $0,84](https://preview.redd.it/ktmeqi1a81391.png?width=1105&format=png&auto=webp&s=03370b6311c879afb49482d7ccffc963c46ae252) + +&#x200B; + +\*\*\*\* + +**Kucoin decided to lock UST withdrawals to manipulate the market** + +On 11th may, 11h19, Kucoin decided to close UST withdrawals (2). They were arguing some fake congestion problems on the blockchain. + +&#x200B; + +[Kucoin locked UST & LUNA Withdrawals](https://preview.redd.it/ktivxyuh81391.jpg?width=603&format=pjpg&auto=webp&s=6ec0b2718d4bcd7457ef0bedf0cbdf13dbe86344) + +Inevitably, the UST price deviated from the global market price. The UST was at that time trading 30% below the price of all other platforms (Kraken, Binance, Huobi, Coinbase, FTX, Gate.io...). + +On 11th may, 20h00, UST reached my target price of $0,84 across all competitors, including Kraken. By comparison, the price was $0,59 on Kucoin. At that moment, I had the strong will to sell all of my UST for $0,84 and end this nightmare. With 1,949,390UST I was supposed to save 1,637,487USDT. (If I took the decision to deposit my UST on Kraken instead of K#####!) + +&#x200B; + +[UST reached $0,8490 on Kraken \(and barely $0,60 on Kucoin\)](https://preview.redd.it/m066h4yi81391.png?width=1048&format=png&auto=webp&s=9e3d2b7d94548a636cf119877368e8eb70d1b327) + +I contacted Kucoin customer service on Telegram and I realized that hundreds people were complaining for the same exact reason. Many of them, publishing proof that Kucoin was making arbitration, were kicked and banned from the chat (I will detail everything about it later in this post). + +On 11th may, 21h58, I sent a message to Kucoin support : + +&#x200B; + +[I sent a ticket to Kucoin support that never answers](https://preview.redd.it/ehqj1krs39391.jpg?width=757&format=pjpg&auto=webp&s=7e23dbe75ec8baeca71ba3dfc4413d9c3435ad74) + +On 11th may, 22:24, Kucoin finally unlocked UST withdrawals. But it was too late. UST had already fallen sharply to $0,65 (and would very soon fall to $0,20). + +On 11th may, from 22:27 to 22:39, I withdrew all my UST to Kraken. + +On 11th may, from 22:40 to 02:05 (D+1), I exchanged my 1,949,390UST for 1,097,303USDT for an average price of $0,56. + +I lost (1637487-1097303)= $540,184 because of Kucoin’s manipulation. + +&#x200B; + +\*\*\*\* + +**Kucoin made arbitrations for 11 hours** + +There is no doubt that Kucoin had willingly locked the UST withdrawal to make arbitration on the market and cash in the 30% difference between the UST’s value on the Kucoin platform versus their fair market value. And they did exactly the same with LUNA (LUNC now). + +&#x200B; + +[Many posts on Twitter complained about Kucoin manipulation](https://preview.redd.it/nbuyhugo81391.png?width=594&format=png&auto=webp&s=b04f135c42f12678cb7b8bd1a327a090cd3d15a9) + +By locking UST withdrawals, Kucoin created for itself an incredibly profitable situation. Kucoin bought UST 30% below the price on their own platform. And then sold them to the real price, 30% higher, on any other platforms. + +After this, they just needed to loop and repeat the exact same operation. This, during 11 hours. + +Let's prove it as everything is public on the blockchain : + +On 8th may, my main Terra wallet made the deposit of 1,715,000UST on Kucoin Terra wallet : terra14l46jrdgdhaw4cejukx50ndp0hss95ekt2kfmw (3) + +This same wallet, terra14l46jrdgdhaw4cejukx50ndp0hss95ekt2kfmw, owned by Kucoin, made 13 withdrawals DURING the supposed "congestion" for a substantial total of 112,436,410UST (4) + +Cashing in the 30% difference with other platforms. + +**So Kucoin made approximately $33,730,923 of profit by manipulating the market and making arbitration.** + +All arbitration operations are tracked and available on the blockchain (detailed calculations are available in the sources at the bottom of this post) : [https://finder.terra.money/mainnet/address/terra14l46jrdgdhaw4cejukx50ndp0hss95ekt2kfmw](https://finder.terra.money/mainnet/address/terra14l46jrdgdhaw4cejukx50ndp0hss95ekt2kfmw) + +&#x200B; + +\*\*\*\* + +**Kucoin lied and hid what they were doing** + +They consistently kicked and banned every customer that brought evidence of their arbitration operations on the customer service on Telegram. + +&#x200B; + +[Kucoin Telegram admin banned \\"disturbing customers\\"](https://preview.redd.it/srdzdgwp81391.png?width=595&format=png&auto=webp&s=bacb0594c642406b8a2376c9d1532adcfc8853f9) + +Customer service never stopped to argue that the platform was under maintenance. This could have been true if they didn't, themselves, make 13 withdrawals during this time. + +It seems that this is part of Kucoin's business plan as they wrote in their terms of conditions: "Kucoin may agree (but is not obligated to) your request to transfer funds" (5). + +&#x200B; + +[Kucoin is not obligated to transfer your funds regarding terms of agreement](https://preview.redd.it/gbe9aj0u81391.png?width=940&format=png&auto=webp&s=6953aabd3b577be56fa4ef514f378bf7f4603165) + +Moreover Kucoin seems to have a habit of breaching financial rules and violate customers’ rights. They are already sued by Ontario regulation in Canada (6) + +Kucoin doesn't even state where the company is domiciled and regulated in their terms of agreement (7) + +&#x200B; + +\*\*\*\* + +**Conclusion** + +Kucoin manipulated the market for 11 hours against any financial laws and authorities rules. + +Kucoin cheated to make substantial profits while some of their investors were losing their life savings. + +They did it. They also did it with Luna (another cryptocurrency from Terra ecosystem). We know they did it, they still are doing it, and they will continue to do it on others cryptocurrencies as well. + +I think this is our duty, as crypto holders, to spread the word, to make public those acts, to ban those actions, in order to build a better and fairer crypto ecosystem. + +**If you were also victim of Kucoin's manipulations (UST, Luna or whatever), DM me. You have rights. And we gonna fight against Kucoin through our collective action and the appeal in front of the regulatory an criminal authorities.** + +&#x200B; + +&#x200B; + +&#x200B; + +*Sources/links* + +*(1) :* [*https://www.businessinsider.com/terra-ecosystem-luna-ust-stablecoin-collapse-bitcoin-crypto-do-kwon-2022-5*](https://www.businessinsider.com/terra-ecosystem-luna-ust-stablecoin-collapse-bitcoin-crypto-do-kwon-2022-5) + +*(2) :* [*https://www.kucoin.com/news/en-withdrawal-service-of-mainnet-luna-terra-luna-tokens-temporarily-closed-20220511*](https://www.kucoin.com/news/en-withdrawal-service-of-mainnet-luna-terra-luna-tokens-temporarily-closed-20220511) + +*(3) :* [*https://finder.terra.money/mainnet/tx/5388DA9C1C11341DCB62AE0D3ABEF77C8B855DF72E11A5A6816CF6F992DB638F*](https://finder.terra.money/mainnet/tx/5388DA9C1C11341DCB62AE0D3ABEF77C8B855DF72E11A5A6816CF6F992DB638F) + +*(4) :* [*https://docs.google.com/spreadsheets/d/e/2PACX-1vSQaiMKhE6f12WhSdgI8Q6OJn5rIjm3\_vhtDJ-GwdxgP-yqZ2p86MTRscvVfVLm\_yDvRSIN6X5gsv5A/pubhtml*](https://docs.google.com/spreadsheets/d/e/2PACX-1vSQaiMKhE6f12WhSdgI8Q6OJn5rIjm3_vhtDJ-GwdxgP-yqZ2p86MTRscvVfVLm_yDvRSIN6X5gsv5A/pubhtml) + +*(5) :* [*https://www.kucoin.com/news/en-terms-of-use*](https://www.kucoin.com/news/en-terms-of-use) + +*(6) :* [*https://forkast.news/headlines/ontario-securities-commission-kucoin-canada-regulation/*](https://forkast.news/headlines/ontario-securities-commission-kucoin-canada-regulation/) + +*(7) :* [*https://www.reddit.com/r/kucoin/comments/rj37e5/which\_financial\_authority\_regulates\_kucoin/*](https://www.reddit.com/r/kucoin/comments/rj37e5/which_financial_authority_regulates_kucoin/) + +*(Answer to Johnny\_Kucoin on June 10th with more proofs of arbitration) :* [*https://www.reddit.com/r/CryptoCurrency/comments/v2kb9t/ust\_how\_i\_lost\_1m\_because\_of\_kucoins\_manipulation/ibw98xu/?utm\_source=share&utm\_medium=web2x&context=3*](https://www.reddit.com/r/CryptoCurrency/comments/v2kb9t/ust_how_i_lost_1m_because_of_kucoins_manipulation/ibw98xu/?utm_source=share&utm_medium=web2x&context=3) + +*Public thread on twitter. Please help me to like it and share it <3* [*https://twitter.com/BlackMandrill/status/1538924930129186821?s=20&t=8tYy4oW\_PoplnDxwpLTXaA*](https://twitter.com/BlackMandrill/status/1538924930129186821?s=20&t=8tYy4oW_PoplnDxwpLTXaA) + +&#x200B; +Here are examples from previous market cycles: + +* Doge has dropped by 90% twice in the past, once after the 2015 bull run, and again after the 2017 bull run +* Ethereum dropped 90% after the 2017 bull market. +* After the 2013 bull run, Bitcoin dropped over 80%. After the 2017 bull run, it dropped over 80% again. +* Ripple dropped 95% from the 2017 bull market. +* Cardano dropped 80% after the 2017 bull market. +* VeChain dropped 90% after the 2017 bull market. +* Nano dropped 98% after the 2017 bull market. +* After the 2013 bull run, Litecoin dropped 97%. It then dropped 90% after the 2017 bull run. +* Monero dropped over 90% after the 2017 bull run. +* Iota dropped 97% after the 2017 bull run. + +&#x200B; + +The list goes on and on. While there may be some exceptions to this pattern, everyone who "invests" in crypto needs to be prepared to take some massive losses once the bull market reverses. In many cases, top 100 coins that spiked in 2017 never rebounded and are never going to bounce back. They're dead and gone forever. + +Please, please, please be aware that this time is no different. The bear market will return, and it will destroy all of your gains, and at first you'll tell yourself that it's just a small correction, and then everyone on Reddit will say it's just the Chinese new year or something like that, and then you'll kick yourself for not selling sooner and you promise you'll sell as soon as there's another price increase, but it never comes, and you finally give up and accept that you lost a ton of money because you thought this time was different and you thought you could time the market. But it's not and you can't. + +My advice is to take some profits over time, have a graduated exit plan and DCA entry plan, and don't fool yourself into hodling thru the bear market unless you never plan to sell. But if you never plan to sell, you'd better make sure you hodl something worth hodling. + +Good luck, and don't say I didn't warn you. +I know GME$ AMC$ meme stocks kicked off 2021 in high gear and then came to a halt around March. + +But overall individual stocks did horrible in 2021. + +Was this becuase of delta? +Was it evergrande? +Was it tech stocks going down? +Was it inflation? +Was it Americans not wanting to return to work? +Was it COVID payments stopping on September 4, 2021? +Was it people taking their money out of stocks and investing it into digital coins? + +I’m sure I’m missing a bunch of things but genuinely curious to know why 2021 was bad year for newbie’s like me.l? + +Seasoned vets seemed to do fine, hell my neighbor said it was his best year investing since he can remember. Props to the veterans out there. + +I’m carrying multiple bags that I’ll doubt I’ll ever go positive on before these companies declare bankruptcy +ARK's new space ETF makes no sense at all. The second largest position is another ETF. Also included are: JD.COM, NVIDIA, DEERE&CO, AMAZON, ALPHABET, GARMIN, ALIBABA, NETFLIX. And those are just the inappropriate companies I knew about without having to look. Is ARK preparing us to watch netflix while mowing the lawn on mars? + +I am only surprised that there is no TSLA inside. Does anyone know what this is about? I realize that there are not many "space" stocks, but then I leave the project instead of filling the ETF with illogical companies. + +EDIT: To all those who complain here with "But amazon has satellites in space": Tesla also offers insurance to a few customers in California. Does that make it belong in an insurer ETF? No! For most companies like Amazon, Netflix or John Deere, the part that has something to do with space or profits from space is less than 5%. Not even remotely worth mentioning, that doesn't justify inclusion in such an ETF. + + +Here I have a link to the list of holdings: + +https://ark-funds.com/wp-content/fundsiteliterature/holdings/ARK_SPACE_EXPLORATION_&_INNOVATION_ETF_ARKX_HOLDINGS.pdf +While they are trying to improve connections to NYSE and the CME, why on Earth would you move to somewhere that there's not a lot of trading going on? Mostly there's a lot of people connected to South America, let's look at the [Miami Stock Exchange](https://www.investopedia.com/terms/m/miami-stock-exchange.asp#:~:text=The%20Miami%20Stock%20Exchange%20\(MS4X\)%20is%20a%20regional%20exchange%20that,Latin%20American%20and%20Caribbean%20Exchanges.) + +Just remember that there's a lot of [strange PUTS](https://preview.redd.it/7qs66ryx22e71.jpg?width=960&crop=smart&auto=webp&s=55fa2e0cc5bae5f0f4fa67b9af0273d7ced816bd) with GME, and perhaps other stocks if we'd take a closer look. + +Is it possible that Citadel is on the predator's ball to get people to move their derivatives to exchanges in South America? Is it possible that they are running their swaps through South America to avoid some sort of oversight? + +I started to think about this after hearing about the latency arbitrage case with Citadel as well as watching some [lectures from Brad Katsuyama CEO of IEX, which also included discussions of SAC involved with Algos for HFT](https://www.youtube.com/watch?v=0eqqCwhPlyU). + +@[6:54](https://youtu.be/0eqqCwhPlyU?t=409) on his lecture Brad even mentioned why it makes sense to be geographically closer that allows HFTs to scalp orders. + +Bonus feature tinfoil hat rabbit hole; @[10:02](https://youtu.be/0eqqCwhPlyU?t=602) Brad mentions how Toys R' Us had a cabinet located right beside the exchange +This may be a bit of a ramble.. + +Hi ausfinance + + +I had poor mental health during my 20s and that decade was lost. I also had a father who didnt teach me anything about finance, and his only advice was go to uni, get the piece of paper, get a job and then work. +I am very envious of those who travelled and lived full lives during their 20s. +Im male and in my early 30s, my mental health is a lot better, I finally got my first job and im wondering what I should do moving forward. +Im on 55k a year and a 6 month contract. + +Im currently working overtime, doing about 60 hours per week. And my pay, after tax, comes in at about 1200 a week +Wothout ot it would be about 800 a week + + +I have 0 close friends because i lost them all when i was sick. So i have no social life. I dont do drugs and i dont drink. +Working OT is okay as it is something to do, plus I gain experience, and earn extra money. +I have 40k in hecs debt, a car given to me by my parents, and I have a little over 1000 dollars in the bank. +My rent is 400 a week and I live alone. + + +Im torn between 1. making up for the experiences I missed out on in my 20s and +2 progressing in my career, living frugally, and catching up to my peers + +I have no plans for kids, I am 100 percent childfree. + +Ive never had much money of my own in my life. Never had over 2k in my bank account. +I am not sure what to do, so im just working and saving money. Maybe at the end of my contract ill go on a holiday? But im unsure, because I want to progress at this company and get a promotion (they do internal promotions), I dont want to risk that promotion by going on a holiday at the end of my contract. + +working OT for next 2 yrs would assuage financial fears but it seems like I'd lose more of my youth and end up with more regrets. + + +I dont have anyone else to bounce ideas off so thats the reason for my post. + + + +Should i focus on saving money, and getting a promotion? + + +Or should i enjoy my youth and live like I wished i could have in my twenties? + +I desperately want to live a life that is fun and enjoyable and undo some of the regret I have from missing out. +But I also have a fear of financial instability and putting myself in a terrible financial and/or career position + + +My dad has said he'll still financially support me as long as he can but i dont want to be dependent. I was previously fully dependent but now I live off my own money, except he currently still pays for insurances. + +I feel grateful to have the job i have got, considering my resume had almost nothing on it... + +What should I do? +I understand it only affects a few companies at the money but it’s potentially only a first step. What happens to ETFs like NASDAQ when a company like Alibaba gets removed from the ETF and it’s re-balanced +Much has been said about why using superannuation savings is a bad idea, even in the present situation. + +This post is about the policy deficiency and the reason why the policy deficiency matters. + +In almost all basic financial guides, there are two consistent themes of good advice. First, save for your retirement because the pension might not exist in forty years. Second, always have a buffer of X months cash to tide us through hard times. *These are two different things.* + +We only do the first because the government made us. We don't do the second, because the government doesn't make us. If we all had a six month cash buffer, for example, neither landlords, nor renters would be having a stoush right now, but we don't and we are. + +Now superannuation, being for the long term should have it's money working hard - liquidity for something locked away for 40 years is not high priority. + +The financial buffer, on the other hand might be needed at any time, and should be highly liquid. And might be needed every decade, if the history of recessions and redundancies is observed. + +The problem we have, therefore, is that the government is trying to use a resource (super) designed for one purpose to function as another (an emergency buffer). In other words, using the wrong tool for the job on the basis that it's the only tool it has. + +Given that the lack of a savings buffer has been exposed, my question is whether, given the frequency of financial problems throughout our lives, as to whether the government should set up separate compulsory savings funds which are releasable during times of life crisis? + +Now. Big pause here. I'm not necessarily advocating this. + +What I'm saying is that since dipping into super is a bad idea, one option is for government to never use it like is happening now. However, if government does want something for people to dip into, then it should set up funds to do that...or keep the hell out. +Just a bit of background first. I am a small business operator with 3 store fronts and 2 warehouses. We started in 2018 and were doing reasonably well, and used all our capital to expand to 3 stores in 2019 hiring over 20 employees (all Australian citizens), mix of full time, part time and casuals. + +As a non-essential retail business, our trade just dropped by over 80%. Furthermore, many of our staff expressed concern with working in a retail environment during this crisis. We have voluntarily closed our stores to safeguard the employees’ wellbeing. However, our landlords (5 different landlords) have all refused to assist with rental waivers during the time of the shut down. At the same time, we are still liable to pay business insurance premiums and banking loans (payment can be deferred, but fees and interest will just accumulate). These costs will continue to be payable if we are not closed by government mandated shut down. We have now run out of funds to pay anything at all and the stress is taking a toll on me and my family (as well as thousands of others in my situation). + +A couple of the landlords have now made offers of 15-20% rent reduction “out of kindness” to “assist us in our time of need”. But to be honest, we can’t afford to pay anything at all with no income. Only one landlord (major shopping centre owner) has told us that they are preparing a new proposal to see us through. No idea what that means yet. They are willing to delay payment by 3-6 months, but how am I supposed to come up with 6 months of rent in 6 months time when I’m making nothing at all? I don’t want to borrow the $250,000 from the bank when I know I won’t be able to pay that back. And it will only cover for half of the rents anyhow. + +4 of the 5 landlords has personal guarantees tied to my personal assets such as my house on top of 3 month bank guarantees which also are tied to my personal assets. So in essence, if my business fails and I am unable to pay the rent, my family and I will be in the streets once the 6 month moratorium runs out. So even though I have been on top of all my rental payments and bills in the past and operating what was a successful business, I will most likely end up homeless and broke unless rental payments can be frozen. + +We have stood the staff down with their permission as they know we can’t afford to pay them when we’re making 0 income. However, legally we cannot do so unless the gov. enforces the shut down of all non-essential retail. I felt terrible doing it, and my staff have been so supportive which just makes me feel even worse as their employer. + +We are relieved for many of our staff that they will now be able to access the JobKeeper payment. However, payment to business owners will not start until May, but we are supposed to start payment to staff now. If we don’t have funds or income, how do we pay our staff unless the payment is passed to us? Don’t get me wrong, I am so happy for them as they all need to pay their rent and cost of living, but I’m still just as helpless right now. + +What the gov. is doing now is simply telling consumers to stop going to non-essential stores, and at the same time, telling retail to remain open if we want. It’s a mix message and confusing everyone owning/working in retail. If they make it mandatory for non-essential retail to close, I believe there is a frustration clause which we can use to have many of our ongoing costs (fees, premiums etc) waived. I’ve contacted the Premier and the PM’s office and I’m not getting any answers. + +I can’t even sleep properly now and I’m beginning to lose all hope. The anxiety is excruciating and don’t know where to turn. Anyone out there can point me to the right direction of somebody who can help? +https://i.imgur.com/TS3usND.png + +Savings Goal: have $100k in savings by the end of 2024 (5 full years of saving and the year I turn 30). I have no specific plan around this figure, I'm not necessarily going to use it to get a house deposit or anything but I consider it a fairly achievable figure over this kind of time span. Thinking of putting most of it into VDHG or similar ETFs so that my money is actually doing something for me. Thoughts? + +Other minor information: I've overestimated the costs of a couple of things, like with Myki cost I don't always catch the train in I sometime ride a bicycle in, and Fuel costs, haircut, mechanic costs are pure estimates. +Hello, + +I am 26 right now. I have $49k in the bank. I make $117,600 a year as a cyber security engineer in ATL, GA. My car (2019 Camry XSE) is paid off. I have no other loans/debt besides my mortgage. My wife brought her car loan into our situation from before we were married. She has $20,201 left on her 2020 Rav 4. We pay $432/month on the car. Should I just pay it off? The interest rate she got was 4%. +My first investment was in 2008, and I bought out of state for 17K down on a 72K property. The following year the recession begins, and the house over the next couple of years drops to value of ~45Ks. Cash flow averaged about $100/month, with repairs here and there generally no more than a $1,000. For the last 10 years; I had the same tenant who always paid up until covid happened. Then it was a struggle, and for the last two years, I lost about $400/month and couldn't evict because of the moratorium. I finally was able to evict in May 2022, and the house is destroyed with 10-15K of repairs needed. I currently owe 40K on the mortgage, and if I sell the comps are coming in around 75K **IF** I pay to repair it first. So after repairs and closing costs, I'm lucky to net 15K. + +Do I cut my losses and get out now? If so, is there a good way to do this? I am aware of the 1031 exchange but the appreciation does make that option viable. + +Or do I suck it up and hope for a better tenant (and property manager) raise the rent to get a cash flow of about $300/month and have them pay off the final 15 years of the mortgage. + +I'm new to the sub, and this is my first post. Appreciate any and all feedback. Thanks! +I'm a noob who is researching feasibility of multi-family property investments (in the 10 to 30 unit range per property). Could anyone, with experience in this business, comment on large cost repairs that I should consider / be aware of as I begin assessing properties? + +Roof replacement and age/condition of appliances are obvious ones, but what about things that aren't so obvious to a new investor who has little real estate management experience? Things that come to mind: property sewage infrastructure problems, building wide plumbing problems, extensive termite damage, fire suppression systems, etc. Also, what about any "gotchas" that took you totally by surprise and ended up costing a lot to fix, either in terms of resulting vacancies or high repair cost? + +Like anyone else, I'm looking to maximize return as much as possible, and large repairs would certainly make a massive dent in that. I want to get as educated as possible. + +Thank you :) +Or do they only apply to the rental income? + +Say I have an owner occupied fourplex. I know I can write off mortgage interest, property taxes, etc. but if the deductions are higher than the rental income, can I use any of the deductions on income earned from my regular job? +My first investment was in 2008, and I bought out of state for 17K down on a 72K property. The following year the recession begins, and the house over the next couple of years drops to value of ~45Ks. Cash flow averaged about $100/month, with repairs here and there generally no more than a $1,000. For the last 10 years; I had the same tenant who always paid up until covid happened. Then it was a struggle, and for the last two years, I lost about $400/month and couldn't evict because of the moratorium. I finally was able to evict in May 2022, and the house is destroyed with 10-15K of repairs needed. I currently owe 40K on the mortgage, and if I sell the comps are coming in around 75K **IF** I pay to repair it first. So after repairs and closing costs, I'm lucky to net 15K. + +Do I cut my losses and get out now? If so, is there a good way to do this? I am aware of the 1031 exchange but the appreciation does make that option viable. + +Or do I suck it up and hope for a better tenant (and property manager) raise the rent to get a cash flow of about $300/month and have them pay off the final 15 years of the mortgage. + +I'm new to the sub, and this is my first post. Appreciate any and all feedback. Thanks! +Bought a triplex with traditional financing (25% down 30 year mortgage). I personally believe there will be opportunities in the next year or so when all of the government hand outs/banks suspending mortgage payment collections end and people being unemployed for so long can't afford their properties. So I believe there will be a lot of foreclosures in the future. + +I am just starting to think about buying a foreclosure and would appreciate guidance from people that have experience in that field of investing. + +1) what is a good source to read about buying a foreclosure? + +2) what has your personal experience been in this field + +3) how does it differ from a traditional sale with a mortgage + +4) things to look out for when looking at foreclosures + +Thank you in advance +**Cost basis = $248,000** (Bought home for 210k. With closing costs (13k) and renovations (25k)). I'm living in the home for a year before renting it out - Can I still use my closing costs as part of my cost basis? Closing costs included \~4k escrow for taxes - Can that be included? + +**Deductible expenses: $18,800k** / year (Depreciation = $9,000/year, Property tax $4,000/year, Insurance $1000/year, mortgage interest $4800/year) + +**Total Income: $19,200** / year (with rent = $1600/mo) + +**Expenses: 13.6k** / year (mortgage/tax/ins = $1100/mo, trash sewer = $400/year) + +**Projected cash flow: $5,600** + +**Projected equity gain: $3,600** + +Do I have any glaring mistakes such as not being able to claim the property tax as a deduction? I also understand that you should plan on the property being vacant 1 month a year, and another month of income goes to maintenance/repairs, therefore the real numbers will be smaller. + +Thanks if anyone can help determine if this is even realistic. +I bought a house with a section 8 tenant in one of the units. I inherited the old HAP contract and I misread a provision on it. I thought the hot water should be provided by the tenant, however that is actually my responsibility. My tenant has been away since before the sale happened and he came back to no hot water. + +I called the gas company to have them turn the meter on but they can't get it done for 5 days. I offered the tenant access to my shower (I'm owner-occupied) and I feel really bad about my mistake. + +Now the important question: can I get in trouble with Section 8 or the law for this? +I would like to hear from other investors about their story for their first investment property. What age were you? How much did you invest? What mistakes did you make? What lessons did you learn? +An Airbnb host appeared on my fyp, breaking down how his properties performed in August. I copied the numbers so you can +check it below. I can't wrap my head around +managing 6 properties with no property +manager. But I guess he prefers that than a 9-5 job. What do you think? + +Airbnb Property #1 +Nashville, TN +Capacity: 8 people + +Revenue: $14,493 +Mortgage: $3,729 +Expenses: $3,149 +Cash Flow: $8,065 + +Airbnb Property #2 +Nashville, TN +Capacity: 12 people + +Revenue: $15,248 +Mortgage: $3,040 +Expenses: $6,547 +Cash Flow: $5,661 + +Airbnb Property #3 +Gatlinburg, TN +Capacity: 16 people + +Revenue: $8,569 +Mortgage: $4,109 +Expenses: $3,169 +Cash Flow: $1,291 + +Airbnb Property #4 +Gatlinburg, TN +Capacity: 12 people + +Revenue: $18,823 +Mortgage: $5,190 +Expenses: $3,953 +Cash Flow: $9,680/2 because he split it with another investor = $4840 + +Airbnb Property #5 +Fort Lauderdale, FL +Capacity: 10 people + +Revenue: $18,743 +Mortgage: $4,033 +Expenses: $2,097 +Cash Flow: $12,613 + +Airbnb Property #6 +Fort Lauderdale, FL +Capacity: 10 people + +Revenue: $12,710 +Mortgage: $8,353 +Expenses: $1,749 +Cash Flow: $2,608 + +Total Revenue: $88,586 +Total Cash Flow (excluding half from #4): $35,078 +Looking for some feedback, I received the below letter from my management company and I found it interesting. I’m sure laws change from state to state. I’m in New York. What do they mean by additional security deposit. I believe the standard was 1st and last and security deposit and possibly agent fee. Regardless if I’m a renter to dish out 4 months of rent out front id rather put a down payment towards a house. + +Dear Client, + + +After reviewing the recent legal changes pertaining to tenant screening, we have noticed that we are no longer allowed to ask for additional security. As an alternative, we can ask for last month’s rent. We also are no longer allowed to deny based on eviction history, but if someone was evicted before, chances are their credit will not be in the best shape and something else might come up on the credit report. + +We are periodically checking and reviewing laws concerning our industry to better protect our clients and stay conforming with any legal changes that arise. If there is something you have a question or concern about, please feel free to contact our office anytime. + +Thank you, +So this has happened twice on two separate occasions: +Every time I go into the building department to submit permits I have myself listed as the GC, the building official always asks me “are you flipping the house?” In a way that makes it seem like they really don’t want me to. +So I just tell them “no I’m going to live there” + +Both times it was in New Jersey + +Will they give me a hard time if I said yes? +My closing attorney doesn’t know why either +If anything they should be happy since it’s going to bring them more money when the assessed property value goes up after the remodeling work… +My first investment was in 2008, and I bought out of state for 17K down on a 72K property. The following year the recession begins, and the house over the next couple of years drops to value of ~45Ks. Cash flow averaged about $100/month, with repairs here and there generally no more than a $1,000. For the last 10 years; I had the same tenant who always paid up until covid happened. Then it was a struggle, and for the last two years, I lost about $400/month and couldn't evict because of the moratorium. I finally was able to evict in May 2022, and the house is destroyed with 10-15K of repairs needed. I currently owe 40K on the mortgage, and if I sell the comps are coming in around 75K **IF** I pay to repair it first. So after repairs and closing costs, I'm lucky to net 15K. + +Do I cut my losses and get out now? If so, is there a good way to do this? I am aware of the 1031 exchange but the appreciation does make that option viable. + +Or do I suck it up and hope for a better tenant (and property manager) raise the rent to get a cash flow of about $300/month and have them pay off the final 15 years of the mortgage. + +I'm new to the sub, and this is my first post. Appreciate any and all feedback. Thanks! +All I see is memes, generic memes, meme stocks, apes, more apes, moon, AMC, WSB, whatever shitco is en vogue for the week. Some of it is funny, most of it is noise or downright annoying. + +Are all the mods dead or just taken hostage by an ape? Blink twice for yes. + +Because, apparently, textual post needs to have at least 560 characters, but a meme on how much you fucking love a bankrup company is fine for the 100th time, let me echo a section of the AutoMod message: +“Hello! In an effort to cut down spam and repetitive/short posting which has come as a result of increased publicity, we have temporarily imposed a minimum length of 560 characters on all posts. Due to the massive influx of new subscribers, please share only high quality, well thought posts which add value to our community” + +I find this ironic a bit. +Market cap to me was always arbitrary, something could easily be overbought and have a high price. Something that's expensive isn't always better. Now, I know that more revenue isn't always better but it would be a better index in my opinion because this is where the money is actually going! Keep your eye on the ball. The stock market capitalization is truly just a derivative and intangible. Imagine if everybody decided to hold a stock, the ledger would shoot into a downward spiral. The S&P 500 is better than other indexes in many ways but don't you think it's overhyped? There has to be a more fundamental index to really cover our bases. + +[Here's the top 500 companies in the US by revenue.](https://en.wikipedia.org/wiki/List_of_largest_companies_in_the_United_States_by_revenue) I'm curious, if one were to rebalance annually, what would the return look like? +DISCLAIMER: there is no “we” and this isn’t financial advice. Just an opinion piece. + +My entire life I would always question things. I would ask my parents “Why do I have to work at something I don’t enjoy to make money?” They would always say I’m too young to understand. But their reasoning behind it was misguided. I would always be hit with the classic lines. Life’s not fair. You need to grow up. Act professional. When in reality, I just wanted to enjoy my life and share those experiences with others. Why was everything behind a paywall? Why am I not allowed to do it, but others born into wealth have all that freedom? I was angry, hopeless, and depressed. I think we all go through that phase at one point. The reality is that it’s not a phase. You either accept it and move on, or you don’t and get left in the dust. + +There’s a difference between my parents and I. I’m angry that they lost so much of their lives just trying to get by. They’re immigrants and did all that so I could have a better life. But the sacrifices they made for me were partially in vain. The job market sucks ass, houses are extremely expensive, wages have stayed stagnant, and the cost of living has risen. They don’t understand that the system is less forgiving on the youth. Not like it was forgiving on older folks either. They accepted this hellscape as a natural fixture of life. I don’t though. I did what had to be done. I have a degree. I have a job. I’m fortunate enough to live comfortably. But that fortune is the bare minimum for every human being, and it’s not afforded to many. How can there be 50 million dollar mansions in LA on one block, and homeless people right across the street? You take a step back and realize how sickening it is. It’s not because the millionaires are all “self made” or the homeless people didn’t “work hard enough.” That’s just been indoctrinated in our heads since birth. “We have what we have because we earned it.” “We don’t have what we need because we deserve it.” I didn’t earn shit. Sure I did what was required and “worked hard.” But a lot of my success was preceded by my parents. They put me through college. They made sure I didn’t have to work so I could get good grades. They contributed to my success. Some people don’t get dealt that hand. I love my parents for it, but this isn’t fair. + +I don’t accept this reality of haves and have nots. The whole purpose of collectivism is that we recognize that each of us are self interested, but we work together because it’s better for ALL. What’s the point of a social contract if it’s failing some and resulting in extravagant wealth for others? This is a failed society. I don’t care if the world is better than what it was 50 years ago. We need to push for something better now. Because the inequality is only getting worse. Over the pandemic, billionaires lined their pockets while hundreds of thousands of people died (in the US) and we have an ongoing food insecurity and homelessness epidemic. Not to mention the shitshow of a for profit healthcare system we have and the fact that our planet will be uninhabitable soon. + +This is where I differ from my parents. I did what was required, but I’m going to fight for something better. Along with you Apes. This squeeze will be the biggest transfer of wealth of all time. But that’s not what matters. What matters is what we do after it. Take care of your family, friends, and community. Instead of building a wall around your wealth and spending unnecessary amounts of mansions and lambos (I said the meme yes), be different. Grow your wealth in order to share it. Anyone who has to buy such extravagant things just to gloat is not someone worth admiring. It’s usually to fill a void and done out of insecurity. Trust me, no matter how big of a house you buy, it means nothing if no one is there to fill it. Happiness is found outside of money once you have enough for true freedom. The rest is pointless. I honestly get sad when I see rich people try to fill the void in their hearts with material pursuits. Take care of yourself. Spend on some luxury. You did the research, you held. You got lucky this is happening, but it’s not luck you decided to do the research and pull the trigger. But remember what’s important. We have to be different. Apes look out for Apes. Don’t turn into one of them. We see where that greed leads you. We see where isolating yourself in a house of cards leads you. They’re so out of touch with their humanity. We’re all equal at the end of the day. Just people. Enjoy your wealth, but be a humanitarian first and foremost. Don’t insulate yourself from people who used to be in your position. Stay in touch. It’s very easy to lose that and forget the responsibility you have to your fellow apes and the world. This is what solidarity looks like. Be a class traitor. It just means you’re a caring person. Fuck the .01%. Sincerely the 99.9% strong. +Just compiling crazy stories of 2001 and 2008 + +1- A coworker was trading heavy margin in 2001 and got wiped out and owed his broker 80k when the bubble burst. I think he said he was trading aol stock at the time + +2- I personally was trading margin on Apple stock during the 2008 crash and it wiped me out, luckily I had a stop loss and only lost 12k of equity + + +What are your stories ? I recovered a few years later (high paying job and big savings) and came back in the market and made 3-4 times what I lost +My dad past away last year and the funeral home told me he had some good life insurance but I hadn't heard anything in a while. He died in a tiny, tiny town with one part time examiner and so his death certificate took ages and now that I finally have it, I sent it out. The insurance company informed that I am a beneficiary of over $150,000! I am floored. I only have about $4000 left over on my college loans and I already have about $3000 in savings. I've always been very frugal and have no idea what to do with so much money. I have no need for almost all of it right now. I have no one to travel with and as a small petite girl, I don't want to go alone. I already have a very reliable car, and I am still moving around so I have no interest in real estate. I enjoy working. What's something I can sit on for about 10 years so that by the time I have a career and a real home, I have even more money? Thanks for all your help :] +I recently saw a post here asking about today's IPOs versus 1999. This was published in The Information's Newsletter and lays out some of the key differences: + + + +**Party Like It’s 1999** + +If there has been one way to get laughed out of a room in Silicon Valley these past few years, it is to draw comparisons between the present day and the frothy late 90s. + +Do so, and you are likely to get a lecture on all the reasons why the current tech “boom” in no way resembles the tech “bubble” that burst nearly two decades ago. For starters, today’s tech companies are global behemoths with orders of magnitude more revenue than flameouts like Pets.com. We aren’t seeing the same run-up in IPO prices that we did during the late 90s. Tech, media and telecom stocks represent about 32% of the S&P vs. 45% in early 2000. + +2019 is not 1999. But there is no doubt we are in a different bubble of sorts, and it’s time we recognized it. Because, while today’s tech companies don’t face the same risk of simply vanishing, they are burning through incredible amounts of cash, often with a story, but no evidence, about how they can reach profitability. The idea that SoftBank’s $100 billion Vision Fund, the one perpetuating these losses by funneling capital into money-losing companies before they go public, might itself go public without yet seeing stable returns on its investments is alarming. + +Today’s newly public tech companies have a lot of runway because they have raised billions in the private markets and are raising big sums through their IPOs too. With interest rates now stabilizing, the market has bounced back; the party could continue for a little while. + +But even so, we're in dangerous times. Any macro economic event could undermine confidence and bring everything tumbling down. And it’s hard to estimate how long companies’ cash will last when many are burning more year over year. Businesses are going to have to adjust their business models and cost structures dramatically, and some investors will suffer. + +Uber spent $2 billion more in cash last year than it took in in revenue. Lyft burned through $980 million. Yet investors are valuing Lyft at seven times 2018 revenue. If Uber goes public around $81 billion, it will be valued at slightly more than seven times. + +While those multiples aren’t crazy, they are risky for companies that are far more capital intensive than traditional tech companies. + +That’s especially true of WeWork, which publicly announced its IPO preparations were well underway this week. The company last year lost more than it took in in total revenue—with a net loss of $1.9 billion on $1.8 billion in revenue. That is some serious money. + +In some cases, the companies would like investors to believe that their losses can be erased quickly when they “decide” to become profitable and stop competing for market share. The only problem with that theory—which Uber, Lyft and their investors have been saying for the better part of a decade—is that the companies aren’t supporting it with any data. Many businesses remain races to the bottom with thin margins. Just ask the airline industry. + +It’s not like growth is going gangbusters either. Uber’s ride-hailing business grew revenue 33% last year, down from 95% growth the year before. Revenues for Uber Eats, the supposed fast-growing second business for Uber, fell between quarters in 2018. Airbnb, which is expected to go public later this year or early next, has told investors that it conservatively expects to grow revenue 25% this year, down from 42% last year, Cory reported recently. + +Even the profitable exceptions bear closer scrutiny. The team at Zoom has managed to grow what is a pretty basic video-conferencing feature to $330.5 million in revenue. But folks, it is still video conferencing, which is highly competitive and somewhat of a commodity. Its market cap is two-thirds the value of Twitter. + +Perhaps some of these fears are already lowering expectations. Lyft is trading 13% below its IPO price. Remember when Uber was expected to go public at a valuation of $120 billion, according to what people close to the company leaked to the press? When the moment finally comes, expected at the end of next week, it is looking like it will be closer to $81 billion. + +Indeed, it is starting to feel like this rush of IPOs is being fueled more by fear that the money is going to dry up than by the sense that they are strong enough to face the scrutiny of being public companies. + +And that is never a good sign. +I'd like to know if it's of any utility to invest the money I keep aside to pay in taxes yearly. + +As a freelancer I find myself keeping on a bank account some thousands of € and I wonder if there's any advantage in investing them until I've to pay them back to the government as taxes. + +I'd like to find something as easy as possible and not risky, as eventually those money do need to be paid. + +What's your opinion? Maybe someone did the same in the past?! +Every payday I make sure that I invest a good chunk of my pay-cheque. Specifically, I've opted for Legal and General's Global 100 Index Trust. + +I'm fortunate enough that this index tracker is performing very well, and the performance over the ~3-year period I've been investing is just over 30%. However, when I compare the money I've put in compared with the current value of the portfolio I'm only about 15% up. Is there a simple explanation for this? Is it just the case that I've been slightly less lucky with respect to the specific points in time that I've invested, and have bought at relatively high prices? Sorry if this is very obvious! +I can't be the only one. And don't get me wrong, I've zoomed out, I'm up significantly over the last few months but god damn. When I watch Shiba Inu and Keannu Inu and Safemoon and all these fucking shitcoins go off and calculate how much money I would have made if I was willing to gamble that aggressively it pisses me off. Not because I'm missing out so much as knowing what it would do to the crypto market as a whole if these people just invested in any of the projects that are legitimate and have development teams that know what they're doing. + +I was around in 2017 and things were similar but it feels different right now. Now that we have DEXs where people can swap from one coin to another without the projects having to be listed on exchanges it seems like the a side of the market that didn't exist before has emerged. It's dark, there are no clocks or windows and the carpet is patterned to excite. Gamblers line up to throw their money into the latest and greatest shitcoin and the smart ones get out with significant returns, the not so smart ones convince themselves they've found the next BTC and start trying to indoctrinate as many people as they can into this "world changing technology" they found. +Hi all, + +I have a job offer in Switzerland to work in Zurich. + +My current job in the UK pays £85k. + +My cost of living in the UK annually is £20k. + +What should I expect in terms of salary for a similar job in Zurich? I am expected to move there for the role, it is a full-time job. + +I am a single person. +Like, am I crazy? I don't see a sticky post about this, and nothing in the side bar. Everybody's circlejerking about how *every single upvote* gives you 0.4 moons = 2 cents, but nobody's ever discussing where the money comes from. There are probably hundreds of upvotes every second in this sub, and this crypto money is just appearing out of thin air? What's the catch? +TIA for reading my post! + +Keeping it short and sweet. Company going through liquidity event, all my equity will be cashed out, currently working with CPA to understand tax situation, but expect a large tax burden that I must pay during the next quarterly tax cycle. + +Current plan is to invest the gross cash proceeds back into the market (SPY or QQQ), either lump sum or DCA. Then, tap into Schwab's PAL program to get a loan to pay the taxes. I'd negotiate the lowest interest rate possible (targeting 1.5% to 2.0% based on today's Fed funds rates). I'd pay interest-only on the PAL and leave the principal untouched, while keeping as much money invested in the market as possible. + +Does the above plan make sense to folks here, or should I just pay the taxes in full without tapping into a PAL? +Hi fatfire, + +Posting on what I consider the most intelligent and useful part of Reddit. I’m not fat but am trying very hard to get there. Today I am looking for advice to help my parents who are on Medicare, have a paid off home, long term care insurance, and >$2mn in stock and retirement accounts. + +One parent has advancing dementia and it’s become too much for the other to handle at home alone. It’s recently reached the stage of incontinence and struggles to walk on their own. This entire time the other parent has been the sole caregiver and is experiencing their own health issues. They went as long as they could to keep things “normal” at home for years and are now quite unprepared for the next step. + +I am their only family, and live on the opposite side of the country with my own young family. It’s clearly time for them to activate their insurance policy, take everything Medicare can provide, and sell more stocks as needed. + +Their home is not equipped for the sick parent to continue to live at home unfortunately. The “healthy” parent waited too long to schedule a contractor to make accessible bathrooms and other important changes and it could take months to make the home ready for professional in home care. + +My question is how do I help find a memory care facility that will provide humane treatment? Any tips beyond googling the names of facilities as I go down the list of choices? Do my parents have enough financial resources to find humane care? I don’t want my parent to be in a house of horrors like you hear about so often. +Hello FIRE faithful, I have been thinking of doing a post here for a while as I very much enjoy this sub and the things it has taught me and figured I could give back in the form of a post detailing my journey to over half a million net worth and how I see it going from here. + +Note, I am using a throw away and I will try to give as good of numbers and details while not ruining anonymity, if you have follow up questions I'll try to answer them below. + +I'm currently 29 and work in tech, specifically Infosec. My first job out of college at 20 years old made me 25k a year and I have worked myself up to my current gig which pays 150k a year (only been making over 100k last 3 years however). I'm married with no kids and my wife is thankfully very frugal and has helped me to be a better saver, I can not over emphasize how important it is to marry someone who is either at your level or is your better than you financially and otherwise! + +Our current net worth is comprised mainly of our 2 retirement accounts (~60k), 3 properties (~1 mil), and cash on hand and investments in crypto (~60k). Our only debt to our names is our mortgages. We are very happy to have all cars paid off, no student debt, CC paid in full monthly (although that model 3 is tempting). Our total mortgage debt is about 550k, with our houses gaining a ton of value each year (PNW). Personally I want to sell our main house as it has gained 150k in value over 2 years but wife wants to stay. I'm worried about a bubble but she thinks it will keep going up, time will tell. + +As far as how we started, I was lucky to have my dad loan me the majority of our down payment for our first place (36k) back in 2012. I have since paid this back to him in full in addition of other gifts (NFL games are expensive) but I realize this makes me lucky and privileged. We then have basically bought another property every 2 years or so by focusing on saving for a down payment together, and have sold one property that was purchased as a foreclosure for a 50k gain. + +Career wise I have always just tried to do my best and get better jobs and be open to opportunities. I have gotten the biggest salary bumps when quitting or going to a new job, jumping salary from 45k to 70, then 70 to 100, and most recently 100 to 130. Increasing my skills, interviewing at other companies and building my LinkedIn network were all part of this. + +Going forward, I expect with the amount of money my wife and I can save and at my current pay rate we should be able to retire at age 33 with a net worth at or over 1 million. We only need about 48k per year to live on comfortably post tax, with our major expenses being travel and food. I estimate being able to either acquire a few more properties and then just living off rental income, or selling them all and living off an investment return of some sort. + +Background, both of my parents work, my mother usually dips in index funds and dollar cost averages. My dad however since the 08 crash hasn't put any money in since then. He now has a large lump sum of cash but doesn't know how to start. He wants to give the money to a professional manager but I told him to wait before he does. Him and my mother both make north of six figures. Any suggestions? + +edit: wow didn't expect to get this many comments. Some additional info, it isn't that he doesn't want to invest in the market, his thought process is that he missed the bull period and since then the market has nearly doubled. In his mind, there is no good entry point that goes with his risk tolerance. I myself just graduated college recently and started working and manage my own portfolio, but I can stomach risk and volatility much better than he can. I think the last thing I want him to do is give his money for someone else to invest. Thanks for the all comments and advice! + +Edit #2 +Both of my parents are high 40's and as for his timeline he plans on working for another 15 years at least so he has a while. As for the amount of $$ he has to invest...he won't tell me a number, just that he has a large amount just sitting there + +Edit #3 Thanks everyone for the help! After reading some comments, I'll definitely pass this onto him. Thankfully I picked up investing myself in college and we made a few investments together in a few biotech companies that I like (me being a pharmacist now). Because he has low risk tolerance I think dollar cost averages will be a good fit for him. As for the amount of time he has to research is very slim, as working as a software engineer in startups take up a lot of time. He has made his fair share of money from acquisitions. And yes my mother is the complete opposite, she is a huge risk taker and has already profited quite a bit during this run. +Firstly I know I am in a very fortunate position and this is a nice problem to have but would appreciate the UK/pf thoughts on things. + +In short I am 30, in a job that pays me all in 300k (with scope for that to move up to 500k in 2-3yrs) but makes me miserable, mainly through the stress and toxic work environment (it is pretty dog-eat-dog). I have had a pretty rapid income rise (only had savings for last 4yrs) so despite the super high headline amount my savings after paying off my student loan are ~300k. I probably only ‘need’ 2.5k per/month (~40k pre tax p.a.) to live my current life so am able to save most of my income currently. + + +I would like to quit after my next bonus which would get me to 400k+ in savings (+100k in pension) but the issue with quitting is that I am unlikely to earn this amount again and this industry (hedgefund front office) is very difficult to get into/return to. Currently I am able to save post tax income less my 30k expenses which is >100k p.a. + + +So the dilemma is suck it up and be miserable for a period of time (easy to say hard to do, like losing weight) save up to be financially free (whatever that means) or cut it off and go and do something more meaningful (teacher, start own biz) and have more time, be happier and feel like I have a purpose but probably earn 10% of what I do now. + + +Just looking for different viewpoints and any worldly advice from you lot because it’s not something I can really canvass opinion on in normal social settings. Cheers. + +EDIT: Thanks for all the responses, just to cover off a few of the questions below. This was a career that I always wanted to do, I was super passionate and loved the job, I have kind of got to the place I wanted to get to and its not how I envisioned, which has caused me to question my next steps. It is quite a confusing time tbh. + +I can see both sides of life is too short and you are in a great spot ride it out so you are truly free. It is a bit of a daily struggle for me at the moment. If I were not in my situation and giving advice I would 100% say stick it out but wishing my life away to get to that point of freedom is not a great spot to be in either. + +Whilst I am aware of FIRE it feels a bit like escapism to me. I only say that because it was never on my radar until I started enjoying work less, I feel like the solution is somewhere inbetween work/FIRE. In terms of moving jobs, fair point, could be an option but there would likely be material bonus leakage/loss of bonus momentum. Sabbatical not really an option here, max is two weeks off, which you are expected to be contactable at all points. + +Thanks again, really thoughtful advice below, appreciate you all taking the time. +[Here's the cost list at my public local community college.](https://madisoncollege.edu/files/program-cost.pdf) + +I used to work in medical staffing, and nobody gives a bat's ass where you went to school if you can pass the certification exam and have a few years' experience. +Yahoo's board wants to sell its core business for $10 billion, and Microsoft is willing to provide financial help to whoever is interested in a deal + +The report said that Microsoft has been meeting with a number of private-equity firms that may be interested in buying Yahoo's core business, which includes its online search and advertising business, with the idea of providing "significant financing" help. + +http://www.businessinsider.com/yahoo-wants-10-billion-microsoft-could-back-the-bidder-2016-3 +>China is scheduled to have a symposium with the country’s Big Tech firms on the heels of [the Politburo meeting on Friday](https://www.scmp.com/economy/china-economy/article/3175951/chinas-politburo-vows-new-tools-refined-policies-will-help?module=inline&pgtype=article), raising hopes that Beijing will stop its sweeping regulatory clampdown on the tech sector and give internet platforms larger roles to help prop up the ailing economy, according to two sources briefed on the situation. +> +>The symposium has been set for after the Labour Day holiday, which lasts from Saturday to Wednesday this year, to assure business executives that regulators will no longer demand rectifications or impose surprise fines, two people, who declined to be named as the briefings were private, told the *South China Morning Post*. +> +>The country’s major Big Tech players, including e-commerce platform Alibaba Group Holding, social media and video gaming giant Tencent Holdings, online delivery and on-demand service platform Meituan, and TikTok owner ByteDance, are all invited. Alibaba is the owner of the *Post*. +> +>The key message to tech companies is that the state wants them to grow and play a role in Beijing’s efforts to bolster an economy battered by Covid-19 controls, such as through the distribution of consumption vouchers, according to one source. + +So, what China Big Tech you gonna be buying? Personally: BABA, PDD, DIDI, TCEHY. Also, of course KWEB. You gonna get in on this KWEB Bull? +Latest initial jobless claims data available [here](https://www.dol.gov/ui/data.pdf). I wonder how many people are still trying to claim but haven't been able to because of overload of the claims systems. +# Why am I doing this? + +Most of us are probably active on this subreddit, because they want to increase their financial education in some way or the other. + +So do I! I want to improve my financial education by learning at least one new financial term every week. + +For me the best way to learn about a new topic is through these steps: researching, explaining and discussing. + +I'll explain a financial term and give some of my own thoughts about it. You may have a different opinion on the definition I chose or think about that topic in another way. + +And that's where I hope, the discussion kicks in. + +# But now.. Let's start with this weeks financial term: Profit + +When a business gains income from a business activity, the amount of **revenue** that **exceeds** all the **expenses** of that activity is called **profit**. Or in other words: Profit is the excess income over a company’s expenses. + +## Types of profit + +Three major types of profit can be differentiated when analyzing the profitability of a business. + +1. **Gross Profit** = Sales – Cost of Goods Sold (Doesn’t include expenses like taxes, administration or interest payments.) +2. **Operating Profit** = Gross Profit – Operating Expenses (Operating Expenses include pretty much all costs necessary to run the business e.g. cost for insurance, administration, maintenance, warehousing, transportation, marketing, wages…) +3. **Net Profit** = Operating Profit – (Taxes + Interest Payments) (Net Profit is the income left over after all costs have been deducted.) + +## Example + +A company sells chairs and has an income of $100,000. The materials for producing the chairs cost $30,000. The company has $50,000 operating expenses, $5,000 expenses for taxes and $5,000 for interest payments. The resulting profits are: + +Gross Profit: $70,000 = $100,000 – $30,000 + +Operating Profit: $20,000 = $70,000 – $50,000 + +Net Profit: $10,000 = $20,000 – ($5,000 + $5,000) + +&#x200B; + +There are many factors to consider if you want to invest into a business. Profitability is probably one of them.So… what do you think is the most important type of profit to look at, when analyzing a business? Which other indicators should be considered urgently? + +Feel free to ask questions, comment on my thoughts and give your honest feedback. If you are interested in learning and discussing more financial terms together, let me know. Finally.. thank you for taking your time, reading this and sharing your thoughts with us! + +&#x200B; + + + +Links: + +Financial term of last week: [Capital](https://www.reddit.com/r/investing/comments/ayc387/financial_term_of_the_week_capital/?utm_source=share&utm_medium=web2x) + +Next financial term: [Assets and Liabilities](https://www.reddit.com/r/investing/comments/b3qwu8/financial_term_of_the_week_assets_and_liabilities/?utm_source=share&utm_medium=web2x) +He just wrote back: +"Hello, let me know when payment made to bitcoin address, we can proceed after that. +Best Regards" + +How can we mess with him more? I'm thinking I'll send him .0001 BTC so he think I'm confusing the transaction fee with the payment, then I'll take it from there. I'm going to pretend to have lots of trouble with using a Bitcoin wallet... + +Any other suggestions? + +If you missed it, here's the original post: +http://www.reddit.com/r/Bitcoin/comments/2c2lwh/i_got_a_phishing_attempt_from_a_fake_coindesk/ + +Edit 1: Just sent him .0001 BTC as if I messed up the transaction. I might do this a few times before "giving up" and sending him my Cryptsy login and fake password. Then I'll hopefully get an email with his IP from Ctyptsy. Thanks /u/Yoghurt114 for the suggestion! + +------------------------------------------------------------------- +Edit 2: After sending the “error” payment of .0001 BTC, he basically laughed me off. I tried to re-engage but so far haven’t heard anything. The chain is below: + +On Thu, Jul 31, 2014 at 12:56 PM, Bitcoin Megaphone <bitcoinmegaphone@gmail.com> wrote: +What do you mean? + +On Thu, Jul 31, 2014 at 12:46 PM, Shakil Khan <coindesk.com@gmail.com> wrote: +Spent more in fees than actual payment, good job genius :D + +On Thu, Jul 31, 2014 at 7:43 PM, Bitcoin Megaphone <bitcoinmegaphone@gmail.com> wrote: +Ok I just sent the payment - I think I did everything correctly. +Let me know if you have any questions about my site for the article! When can I expect to see a first draft? +Thanks! +Mike + +On Thu, Jul 31, 2014 at 9:50 AM, Shakil Khan <coindesk.com@gmail.com> wrote: +Hello, let me know when payment made to bitcoin address, we can proceed after that. +Best Regards +A lot of the other finance related subreddits have wikis with commonly asked questions, general explanations on what they're about, and historically great posts. + +Is that something mods here would be interested in? It currently looks like the community can't add to the wiki openly. /u/-opportunity- /u/FiIQ /u/rockytoppy +Is it possible to get something like Schwab's pledged asset line of credit agaist private equity stock or is it only for publicly traded assets? + +If it is possible, how do margin calls work for assets that have very infrequent valuations (often months or year+ in between? +I’m checking that I’ve done my homework to get ready for retirement. Work is OK, but after ~30 years I’m losing interest in working while feeling strongly drawn towards the rest of what life has to offer. A few years ago I took a 7 month break from work and I loved it. I’m considering pulling the plug in the next few months. + +My situation: + +• A 3% SWR on my liquid portfolio would allow me to keep my current comfy spending level and I would still have the ability to increase my spending about 15% and remain within the 3%. Taxes on are accounted for. + +• Portfolio is about 50% index funds and 50% individual stocks. Built it up over the years by saving and investing. + +• There is the potential for consulting income after retirement if I need the cash or miss the stimulation of work. I’m on excellent terms with my employer and I’m reasonably certain I could go back to work for them if necessary. + +• Cash reserves equal to about 14 months of expenses. I know this is excessive but it just kinda accidentally accrued from bonuses and and stock sales. + +• Plenty of hobbies, interests, friends and family to keep me busy, maybe even busier than today. Mostly this is doing a lot more of the things I already like doing today. +I also have ideas for fulfilling but low- or non-paying retirement “jobs”. + +• I have a mortgage which would be covered within the 3% SWR. I could sell stock to pay it off and the net effect wouldn’t affect my lifestyle. But the interest rate on the loan is low and with relatively high inflation, I’d prefer to pay it off later with inflated dollars from productive growth assets. It’s my dream house and I plan to live here for a long time. + +• Various backtest retirement calculators show 0 failures for a 40 year retirement (I’m 51 now) + +• The Personal Capital Monte Carlo simulator shows “very good” 92-95% chance my portfolio will survive and provide enough income. (BTW, Does anyone know why Monte Carlo retirement simulators tend to be less optimistic than backtesting methods like those used in the Trinity study?) + +• My calculations do not include any Social Security income, which I expect to able to start at age 60 due to some specific circumstances in my life. Granted it’s not that much relative to fat-level income, more like a little “mad” money floating around. + +I’m confident that I’m reasonably well-prepared. Right now it feels like it’s the psychological or emotional issues around the transition that are holding me back from pulling the rip cord. + +Anyone else been in this position? What else should I be considering? What should I change? +Hello, + Trying to figure out when to stop playing the game as much. + +Currently have: + +1.9M In VSTAX, ER:.04 - Vanguard Total Stock Market Index Fund Admiral Shares) +500k PRVAX, ER: .05 - Virginia Tax-Free Bond Fund +2.9M VWIUX, ER: .09 - Vanguard Intermediate-Term Tax-Exempt Fund Admiral Shares + +Generate about 100k in mostly tax free income + +Income: 290k + 230 bonus +Save: 19k before tax for 401k plus match of 19k plus after tax 1.7k to automatic Roth conversion +Completely save 230 bonus (minus taxes) + + + +Trying to decide if I should go 80/20 Bonds/Stocks and then if/when correction/recession occurs switch to 60/40 bonds/stocks + + + + + + +Generate about 9k monthly in mostly tax free income from bonds. + +Edit: + +Age: 45 +Nw: 6.3M +AA: 61/39 Bonds/stocks + + +Goals: retire with the ability to not worry, travel, etc. I struggle with moving goalposts on how much I need. I have also made it and want to preserve capital. + +I am FI now but it’s about just ratcheting back vs trying to keep growing. Has anyone just said “enough is enough” and moved more to bonds? +In a couple of months I’m going to be receiving a large amount of money (low 8 figures). My current net worth is low 7 figures and so this will be a significant change. + +While I’m prepared from the pure financial side of things in terms of taxes/investment I’m looking for advice on other things that I should do to prepare. My family and I aren’t planning on making this public (some people may have some guesses that money is coming our way but likely no idea of the scale) or changing our lifestyle. We already live pretty far below our means and will continue doing this for awhile. + +For example, things that I’m thinking about are: + +- get umbrella insurance +- get a security system +- sign up for credit monitoring / identity protection +- update estate planning + +But I’m wondering if there are things that matter at this scale that I’m just not thinking about. Would love any advice people have here - particularly people that have gone through something like this and can share their experiences. +Please use this thread to have discussions which you don't feel warrant a new post to the sub. While the Rules for posting questions on the basics of personal finance/investing topics are relaxed a little bit here, the rules against memes/spam/self-promotion/excessive rudeness/politics still apply! + +Have a look at the [FAQ](https://www.reddit.com/r/financialindependence/wiki/faq) for this subreddit before posting to see if your question is frequently asked. + +Since this post does tend to get busy, consider sorting the comments by "new" (instead of "best" or "top") to see the newest posts. +I Need some guidance here - I have a good amount of TSLA 500C that expire tomorrow and I’m a bit lost as to how to handle this situation. + +I’ve never held calls to expiration that weren’t going to be worthless and now that these are $35 ITM I’m a bit confused as to how / when to offload these. + +At market open? Is there room for more gains if price continues to increase? + +Obviously I don’t want to exercise 1.6MM in TSLA shares. + +Thank you 🙏 + + +Evening EDIT: sold 15 at open @ $17 and then kept trying to catch the falling knife with the other 15. Overall a 75% return vs the 400% i was hoping for. Disappointing but still a successful trade + + +https://imgur.com/gallery/F40V7CY +As the title suggests, I’d like advice from people who primarily do momentum scalping, for example, finding a stock that’s been rising/falling hard all of a sudden and scalping it early on in the day. + +How do I scan for these stocks? Ideas on when to enter and exit? + +Any advice is appreciated. +Thank you. +So Let's say I have a risk capacity of 20$ a day and I lost 20$ on my first trade. So should I stop trading completely for the day or should I take another trade if it looks too good to miss. + +Same question also on the profit side,If I have gotten the profit what I have in the back of my head for the day,should I take another trade or rather stop trading and do something else. +Wife and I are sick of going through statements at the end of every month and populating a spreadsheet with what we’ve spent, and categorising i.e. bills, entertainment, clothes, etc. + +Are there any good apps that automate this? And gives a nice at-a-glance view of what our monthly “fixed” bills are (I.e. direct debits)? Ideally something that consolidates account with different providers, as we have several accounts with different banks. + +Paid is okay, free is better. We have Monzo basic… does premium add any of this functionality? Thanks +I’m 22, work full time earning $55k + around $25k in bonuses per year. I have $25k invested in various ETFs, and $25k in savings. On my current wage I can save about $20k per year give or take (depending if I go on holidays etc as well). + +I’m expecting to receive a $100k inheritance in a few months. I would love to buy a house in the next 5 years but I’m comfortable living in my share house for now. + +Should I invest the full $100k in ETFs until I’m ready to buy a house? Invest half and keep half in cash? + +I considered buying an investment property to rent out for a couple of years until I’m ready to move in but I wouldn’t even know where to start with that. + +Any suggestions appreciated! +[non-paywalled link](https://12ft.io/proxy?q=https%3A%2F%2Fwww.theage.com.au%2Fbusiness%2Fcompanies%2Fretailers-bet-on-big-boxing-day-sales-as-shoppers-delay-belt-tightening-20221223-p5c8ic.html) + +Looks like the rate rises haven't begun to flow through just yet... + +...the crowds will probably still be there tomorrow. +Hi, + +&#x200B; + +I do not own any TESLA stock mostly because I did not get in the "right" time, as if there is a right time. + +Anyways, even after getting in the SP500 I fail to recognize the merit for the current valuation. I'm open to be educated, so please change my mind. + +Having said that, I believe the stock is due for a correction, ˜10% at least. + +I'm so **tempted to buy a PUT contract for Sep 2022 @ $730.** + +1. Who's with me and why? +2. Who's not and why? + +Cheers! +Booked a car with Sixt 2 months before my flight to the Dominican Republic. Arrived at car rental place in punta cana to be told the deposit was $3500 plus another $2000 but the woman couldn't explain what the second amount was for. I was only expecting a $1200 deposit so did not bring my large purchase CC for the trip, so I said I would not be able to facilitate a $5500 charge on card for deposit. I was then told no problem if I take out there extra insurance policy then the deposit is only $300, I said how much is the extra insurance? It was £550 (initial rental was £450, bringing the total to £1000) I said I would like my money back to which the woman replied to cancel now Sixt will charge a cancellation fee plus charge for 5 days rental out of the total 10 days I wanted the car for. Therefore, had no choice but to take the car and pay their extortionate fee as paying the cancellation fee plus trying to get a new car would have cost more. Please either be prepared for thousands in deposit or get ripped off at the airport. My advice avoid sixt. on their site said insurance included, damage waiver etc etc. Turns out that's only covers the other car in an accident. +I'm a beginner at investing and I was wondering if there is any advice on how to read financial news or how to extract the vital investment information out of an article. + +For example: +News source x posts an article about this and that, and that tells me (as an investor) that I should invest in company y or that company y is gonna do really great....something like that + + + +So, recently I’ve seen an increase in posts that are stating that a market crash is on the horizon. + +I’m not very concerned, as there hasn’t been a time where the market has crashed and not recovered. + +I know about fears of inflation rising, as well as the market currently being perceived as overvalued. + +My question is, where are the signs of an upcoming crash (if any)? + +In general, what are the signs to look out for? + +**EDIT AND UPDATE: Thank you all so much for your responses. Some comments in this post are quite complex for an investor like me lol, but in general I’ve got the idea that all of these stimulus checks, the unemployment numbers, the overvaluation, the excessive money printing, the sneakiness and deceptiveness, all of it shows that a market crash is on it’s way, but that it’s not something to be very worried about for the immediate future.** + +**I’ve seen people’s estimates range from next week to never lol, but what I’ve learnt from this is that it’s not possible to totally predict a crash, although they are indicators and events that suggest one may be nearby, and that it’s good to have a decent cash reserve on hand to buy at lower prices and to average down.** + +**Thanks once again for your helpful responses, hope y’all have a great trading week ahead :)** +https://nyti.ms/2BxkhHB + +This New York Times opinion piece talks why making all things ever more convenient might not be desirable. While its not explicitly about financial Independence, I think it relates to concepts often discussed in this community, like the idea of having "enough" and the hedonistic treadmill. I.E. Will spending more money to make X task slightly easier really make me happier? + +>"We err in presuming convenience is always good, for it has a complex relationship with other ideals that we hold dear. Though understood and promoted as an instrument of liberation, convenience has a dark side. With its promise of smooth, effortless efficiency, it threatens to erase the sort of struggles and challenges that help give meaning to life. Created to free us, it can become a constraint on what we are willing to do, and thus in a subtle way it can enslave us. + +>It would be perverse to embrace inconvenience as a general rule. But when we let convenience decide everything, we surrender too much." + +**- 27 trillion in circulation** + +**- unlimited supply cap** + +**- only 1 node** + +**- 1% of holders own 30%** + +**- 25% supply minted in the last 6 months** + +**- 38 million notes printed every day** + +**- loses at least 3% of value every year** + +**- in a bear market since its conception** + +Had to repost this here bc it might be the most accurate and perspective post I’ve seen on the topic yet. + +OG Credit to: u/laurcrv +This time a year ago I was in pretty bad financial shape. No plan, no savings, well into my overdraft. + +Then I started reading this sub, and began to turn things around. I created a strong plan and started saving regularly. I was one month from filling my emergency fund and finally moving on to pumping money into my pension and an ISA. + +Now, I'm unexpectedly having to move out on my own due to external circumstances and use up a good chunk of my savings on agency fees (urgh), as well as increasing my monthly expenses by a significant amount due to rent and bills. + +This is of course extremely frustrating, as it sets my financial plan back quite a lot and forces me to look for better paying work more urgently, but had I not had that buffer in place my situation would be catastrophic, instead of just irritating. +This time a year ago I was in pretty bad financial shape. No plan, no savings, well into my overdraft. + +Then I started reading this sub, and began to turn things around. I created a strong plan and started saving regularly. I was one month from filling my emergency fund and finally moving on to pumping money into my pension and an ISA. + +Now, I'm unexpectedly having to move out on my own due to external circumstances and use up a good chunk of my savings on agency fees (urgh), as well as increasing my monthly expenses by a significant amount due to rent and bills. + +This is of course extremely frustrating, as it sets my financial plan back quite a lot and forces me to look for better paying work more urgently, but had I not had that buffer in place my situation would be catastrophic, instead of just irritating. +I wonder what the possibility of brokers halting trading under technical difficulties excuse when the MOASS happens. +Not removing Buy/Sell button, but simply freezing their platforms. + +Remember KODK runup from $2 to $22 back in July 2020? Yes, so many reported they couldn't close their positions or buy in because trading platforms became unresponsive for minutes. + +How are we prepared to deal with it? + + +---EDIT--- + +Imagine this: an ape holds 1 GME share. MOASS happens. The ape sets a limit order to sell at $42,069. The share price goes up to above $40,000 and the broker halts their platform. The SEC doesn't though and trading continues. So the ape uses other ways to monitor the price movement. The ape sees the price rise above $50,000. Then above $100,000. The platform is still frozen and the ape has no confirmation the sell order executed. The price hits $500,000 and then starts sliding down eventually crossing $42,069 on the way down to $500. The whole movement took not more than 1 hour. +After that the ape finally receives sell confirmation of his share sold at $42,069. + +The question is WHAT was happening to the ape's share after the price hit $42,069 on the way up? The sell order didn't execute. Can the broker take over ape's share to ride in LONG position all the way up and cash in at $500,000? This will produce more than enough gains to cover his short losses. Then, eventually, throw the borrowed share back at the ape and let the ape have sell order executed. Like a bone to a dog. The poor ape just got owned because the ape didn't DRS. + +The End. +These are the two scam wallets, with the publisher listed as "Bit Coin". Please alert Apple, stay away, and do NOT download. These follow the same trends as all the previous scam wallets that Apple had approved and then taken down a few days later + +Do **NOT** download these, they're most likely designed to steal Bitcoin. + +Ocean - Bitcoin Wallet by Bit Coin +https://appsto.re/us/5rBtfb.i + +AlphaWallet - Bitcoin Wallet by Bit Coin +https://appsto.re/us/xCrvfb.i + + + + + + + + + + +Come on, apes, this mess is wonderful. This is what is creating new facts that will be the basis for serious actions from Gamestop. + +DTCC is commiting crime if they really told others to treat this as a normal split. Is it their last resort? + +Cannot wait to see how this will unfold. + +I only know that we own assets with a curious characteristic: when the right time comes, the less and the later we sell them, the more valuable they become. This is a wonderful time to be alive indeed. + +Edit: spelling +I feel like u/Yeetasaurus1979 meant well but missed an important point with his popular [This isn’t the space for your libertarian rants about how the government isn’t allowed to tax you.](https://www.reddit.com/r/CryptoCurrency/comments/qmrys0/this_isnt_the_space_for_your_libertarian_rants/) + +&#x200B; + +The very first block mined by Satoshi back in 2009 had the following heading: + +>"The Times 03/Jan/2009 Chancellor on brink of second bailout for banks.” + +&#x200B; + +In the wake of the 2008 financial, the message that the government was doing the people dirty was somewhat clear. Banks responsible for selling subprime mortgages, sold the risk to Wall Street who, in turn, dumped the risk back on the people through shit Mortgage backed securities. When things went south, people with adjustable rate mortgages lost their homes, pension funds lost money because they used to buy "low risk" MBS sold by wall street and the economy tanked, along with millions of blue-collar jobs. Meanwhile, the government injected huge amounts of money to save the very institutions that caused the entire debacle, and it did so with money of the average taxpayer; the very people that suffered the most. + +Though, contrary to popular belief, Bitcoin was *not* a response to the financial 2008 crisis (Satoshi had been working on it before the crash), it is pretty much well accepted that it the crisis helped to drive the point home, and the header on BTC's genesis block illustrates just that. + +It is also telling that, during BTC's early days, that strange new technology was a hot topic among two main communities: the cryptography community and the libertarian community. Libertarians were some of those who saw the potential of having a currency that could escape mismanagement by politicians and central banks and, yes, evade the IRS. I was a libertarian back then (my views have changed since) and I remember vividly the discussions about bitcoin as early as 2010 (unfortunately, I didn't buy any). It was adoption by libertarians ranting about how taxes are theft that helped give BTC its very first baby steps. + +The point is. I agree with u/Yeetasaurus1979: pay your taxes, keep track of your transactions and don't risk going to jail because of it and all of that. But don't forget that the government often takes your hard-earned money and spends in ways that are completely against your interests and well-being. So rant about it, pressure your representatives about it and always involve yourself in the fight against abusive and immoral government practices. Remember that this is one of the reasons crypto exists in the first place. +So in the spirit of learning from others mistakes, what is the costliest mistake you have made financially? + +I have been lucky myself, but when I graduated college I wanted a laptop, but not just any laptop, I wanted a top of the line Alienware laptop. I ended up spending $3,500 on that thing and it only lasted me about a year. Since then I've had longer lasting laptops that only cost me $400. I know $3,500 isn't exactly a huge mistake, but like I said I've been lucky. + +So lesson learned: Computers suck at holding value, and aren't worth more than about the minimum you can spend on them. + +How about the rest of you guys? What's the costliest financial mistake you made and what have you learned from it? What can the rest of us learn from it? + +In an effort of not repeating I did a search for similar posts but the only one I could find relating specifically to finances was [this one](http://www.reddit.com/r/personalfinance/comments/zg76t/what_were_your_money_mistakes_so_far_this_year/) which is a little limited in scope. +This guy Trevor Milton has no engineering background or degree. He promises to make better EV semis than Tesla but yet has made any truck or even prototype. All talk. He already sold some stock to buy himself a mansion. Is he the next Elizabeth Holmes. I'm tempted to short this stock. +From the footnote of page 29 it says + +In a “naked” short sale, the seller does not borrow or arrange to borrow the securities in time to make delivery to the buyer within the standard two-day settlement period. As a result, the seller fails to deliver securities to the buyer when delivery is due. **Because direct measures of naked short selling do not exist**, fails to deliver can be used to learn about naked short selling. Naked short selling can have negative effects on the market. For example, fraudsters may use naked short selling as a tool to manipulate the market, which is illegal. In this regard, the Commission in 2008 adopted Rule 10b-21, a naked short selling antifraud rule. + +They have no mechanism to measure if short selling occurs. Isn't this one of the explicit tasks that congress asked them to police? + +Feel like the subcommittee should be very concerned about that statement. + +&#x200B; + +Edit 1: made this followup post [https://www.reddit.com/r/Superstonk/comments/qdi30i/sec\_cant\_detect\_naked\_shorting\_part\_ii/](https://www.reddit.com/r/Superstonk/comments/qdi30i/sec_cant_detect_naked_shorting_part_ii/) +So first off. I don't make a lot of money to begin with. I make ~30k. I'm a grad student so thats my stipend. Anyway, I have managed to save some money but my savings took a big hit last year due to hospital bills. I started doing instacart on the weekends to make ends meet and it was rough. Now I'm finally saving SOME money again and my father keeps asking to borrow money. Because of what happened last year I'm nervous about money and I dont feel comfortable lending it all the time. I've given him 400ish dollars so far this year which he did eventually give back (over a month later). He recently became disabled but his monthly pension+disability is more than double my monthly income. I do have two half sisters that are young that he is supporting though. + +Reasons I don't want to give him money: + +1. He is irresponsible with his money. Buys stuff all the time for no reason. He also eats all name brand foods and shops at expensive stores because that's what my step mom wants. Something I don't have the luxury of doing. + +2. My step mom refuses to work, even do gig stuff. She's very lazy. + +3. Lives in a half a million dollar house that he pays a $1100 a month mortgage on because the value went up so much. He won't sell it either. + +4. I don't want to enable him. + +How do I deal with this? I don't want him to suffer because unfortunately I'm an extremely empathetic person. Has anyone found a good solution to a similar problem? +&#x200B; + +https://preview.redd.it/1c6gtsn03g591.jpg?width=3456&format=pjpg&auto=webp&s=313d126205aa9f772f6531b63e5ebd354176efd2 + +Lisa knows what's up. High risk low priced stocks and index options. + +&#x200B; + +https://preview.redd.it/dkbj5ima3g591.jpg?width=3456&format=pjpg&auto=webp&s=cf752fe285298e6eb9db2ceaad7dbbc9cc1e3673 + +&#x200B; + +&#x200B; + +https://preview.redd.it/dm4z51kl3g591.jpg?width=3456&format=pjpg&auto=webp&s=dca91ef7b09497f783c3a9294cf79861dc59b8e9 + +&#x200B; + +https://preview.redd.it/r4kcfvpr5g591.jpg?width=3456&format=pjpg&auto=webp&s=35c1c2d5a3f5ad4f508f72fcdc2e4b1f0aa1377e + +&#x200B; + +https://preview.redd.it/d3trdc8t5g591.jpg?width=3456&format=pjpg&auto=webp&s=9a094b92651477334a3d6acfa1edc00673ff01a5 + +&#x200B; + +https://preview.redd.it/fnll2ie97g591.jpg?width=3456&format=pjpg&auto=webp&s=d93fcba3cb27ffd1532fc3dabd70da35256b0a66 + +Laura isn't taking the peasant subway + +https://preview.redd.it/l8ielaon7g591.jpg?width=3456&format=pjpg&auto=webp&s=59214f91b42e7ea4a2bcbde0de0f07305b96c5b4 +Dalio advocates for having 5% of Gold in a portfolio. Taleb mentioned he owns Gold but still doesn't know really why. What's the crowd wisdom on adding a bit of Gold is one's portfolio? +**My quick thoughts on the subject:** + +* Stocks are down due to recession headlines and higher interest rates +* Eventually stocks should go back up when the economy gets better +* Since high-growth tech stocks are the ones that are getting hit the hardest in this bear market, that means they'll also gain the most when the market recovers. +* I think I'll get higher returns if I get these high-growth tech stocks at a lower price, be patient for them to recover, and they'll give larger returns compared to other investments +The recent developments in the conflict between Ukraine and Russia should be given greater attention. There are posts that trivialize the seriousness of this conflict, as they imply that this will be resolved quickly through an agreement on the Crimean region. Others point to the fact that neither the conflict in Syria, the US government shutdown, or the war in Georgia had a large affect on the world economy. This represents an oblivious understanding of the world economy. I can't stress enough how severe of an economic disruption military aggression in this region is going to cause. Russia supplies the West with significant portions of its Oil and gas, and Ukraine plays an important role as a physical bridge between Russia and Europe. If there was military aggression in Ukraine then you can be sure that oil and gas prices will significantly go up, and I don't have to remind you how important maintaining oil and gas prices low is for the global economy. +But let's say in the best scenario, and the more probable one, that there will not be military involvement in this conflict, but rather a diplomatic one. In that case, you can be sure that the West will enforce economic sanctions on Russia, which will cause Russia to prefer selling their oil to the Chinese. Even in this case there will be significant increases to the cost of oil and gas in the West. + +Also, keep in mind that the large dip in several stocks that happened last Friday at 3 pm is probably due to a very large investments company/s that decided to preemptively pull out their money. We're talking about hundreds of millions of dollars' worth of shares with a market order to sell. Whoever did this isn't dumb. They just as easily could have sold off their shares in chunks over a greater time span, but rather decided to rush into selling their shares. This could be taken in several ways. One, that they've decided that the Ukrainian conflict is too great of a threat to the world economy so they preferred to lose probably about 5% by selling all those shares at once. Or two, that this was a psychological tactic that they've used to signal other investors that they should sell off their own investments, causing a dip in the market so that the large investments company can enjoy their shorts. Considering how it all happened near the closing of the market on a Friday, we don't really know which one is it. However, seeing as this conflict is getting progressively more serious, and perhaps tomorrow (Sunday) we're going to hear news on NATO's decision whether and how to intervene, I think we should consider the possibility of a bearish market for the next few weeks. + +Okay, so now we have established that the Ukrainian conflict should be taken more seriously by investors, but what are we going to do about it? I think we should be looking up North American or European companies that depend on doing business with Russia. Seeing as people resort to buying gold during a recession, perhaps we should consider buying shares of gold mining companies, like ANV. Also, the more obvious direction is to invest in some oil companies, like SU, COS, or CNQ, which are some Canadian oil companies that depends on higher oil prices to maintain profitability since their extraction costs are very high. This could also be an extra push in favor of the Keystone XL pipeline by TRP. However, these are not generally my areas for investments, so I'm not sure which companies are good candidates to buy or short. I believe that we're going to see a lot of companies in the red on Monday and in the next little while, so I've decided to sell a few of my positions. Also, I'm planning to buy some VIX shares and go from there. +There will only be a maximum of 21 million bitcoins. Ever. Approximately 4 million have been permanently [LOST](https://fortune.com/2017/11/25/lost-bitcoins/), bringing the maximum circulating total to 17 million. This total number won't be reached until 2140 due to Bitcoin's [issuance schedule](https://en.bitcoin.it/wiki/Controlled_supply). + +Total number of millionaires (in USD value) worldwide is around 33 million ([source](https://www.cnbc.com/2016/11/22/12-million-new-millionaires-will-be-minted-over-the-next-five-years.html)). + +The math is simple: there is not enough Bitcoin in the world for even HALF of today's millionaires to own just ONE SINGLE BITCOIN. Much less all the future millionaires that will be born as the human population approaches [10bn](https://en.wikipedia.org/wiki/World_population). + +Bitcoin is SCARCE. Check out the [S2F model](https://medium.com/@100trillionUSD/modeling-bitcoins-value-with-scarcity-91fa0fc03e25) for a good explanation of why scarcity and value correlate. + +Furthermore: If you are able to acquire even one BTC today: Enjoy the feeling. You are an early adopter. And one of a **very** select number of humans. Owning just ONE BTC means that you are--at minimum--in the top 0.2% ([17M / 8Bn \* 100](https://www.google.com/search?client=safari&rls=en&q=(17,000,000/8,000,000,000)*100&ie=UTF-8&oe=UTF-8)) of the human population in terms of total possible bitcoin wealth distribution. + +Edit: And never-mind the idiots that will say something asinine like "my pubic hairs are limited in number too...does that make them valuable?" Your pubic hairs have zero utility, whereas every day Bitcoin proves it has extraordinary utility as (perhaps) the most perfect form of money humans have yet created. + +Stack those sats! + +That is all. +Previously posted a couple of times regarding this issue and I figured I would update everyone on how it got resolved. TL;DR CFPB helped me get my money back. + +Part1: https://www.reddit.com/r/personalfinance/comments/5civdm/closed_my_chase_account_over_the_phone_account/ + +Part 2: https://www.reddit.com/r/personalfinance/comments/5efua7/update_closed_my_chase_account_over_the_phone/ + +I submitted complaints to the CFPB. As soon as I submitted my complaint to the CFPB, Chase became much more interested in getting to the bottom of my issue. I followed /u/ZeneParker's advice and went back to the branch on Monday after I filed my complaint last week. + +The assistant manager and I were able to get someone on the phone right away who was willing to help. Apparently they didn't have a copy of my original affidavit on file (surprise surprise) and the branch didn't retain my original signed copy (surprise surprise). so a check was never sent out (surprise surprise). The copy of the affidavit that they gave me had the notary stamp slightly cut off so they didn't want to take that as proof. They had me sign and notarize another affidavit. + +They Fedexed a check to me after they received the new affidavit. Of course, as a final curveball, they tried to send it to the branch instead of to my address, but under my name. Of course, nobody accepted delivery of the check. Thankfully, the driver recognized that they had the wrong address and Fedex let me reroute the check. + +So a few takeaways: + +1. Don't trust Chase telephone banking. They are completely incompetent. + +2. Chase Branch Operations and Chase phone operations are completely independent entities that are not even allowed to talk to each other. + +3. If your case falls into a weird crack in the bureaucracy like mine, contact the CFPB right away. A complaint with them escalates your issue to someone who can talk to both branches of their business. Demanding to be escalated only gets you to the highest level of that respective branch of the business. If your issue is with 2 different sides of the business talking to either side won't get you anywhere. + +4. Threatening litigation/regulatory action gets you nowhere. File a complaint if you are in the right. + +5. Shoutout to /u/ZeneParker. Dude's like the bank whisperer in my book. + +Edit: link of /u/ZeneParker's original advice +https://www.reddit.com/r/personalfinance/comments/5efua7/update_closed_my_chase_account_over_the_phone/dackik1/ +When I turned 18, there was a casino about 2 hours away on a reservation that I could get into. We'd get paid on Friday night, head to the gas station near us that would cash a paycheck, pile into my crappy little Ford, then make the drive. We'd get there a little before midnight and everyone had their own game. + +The second time we went, one of my friends was hypnotized by the craps table. There were 16 players standing around this sea of green, and every minute or so, you could hear them screaming at the top of their lungs like they just won a million dollars. On the way home that night, I taught him everything I learned from books I'd read about the different bets. "Smart" bets where the house edge was only 1.4%, all the way down to the risky ones where the house edge was over 10% (meaning that for every $100 wagered, you should expect to lose $10). + +The next time we went, we hung around the table, trying to figure out the right way to bet. It seemed a little complicated, so we tried other games. At the end of the night, I had the last $10 and he asked if he could borrow it to go place a bet. I handed it over, then went to the bathroom in preparation for the ride home. When I finally found him again, he had a stack of chips in front of him. He had been gone for about 5 minutes and already turned $10 into a few hundred. Well, if you can turn 10 into 100, you can turn 100 into 1,000 just as easily. We left empty handed that night, but I'll never forget the rush. + +I loved blackjack. I learned how to play at an early age from my uncle, who would always cheat and take my money. He'd say "I just taught you a very valuable lesson." He actually taught me two: 1) if you play against a casino, you may have a good night and win thousands of dollars, but if you keep going back, you'll eventually have nothing left. 2) My uncle was a scumbag who continually cheated and took my money, then told the family I was a poor sport and they couldn't understand why I hated doing anything with him. One of my earliest memories at the casino was running $100 at the blackjack table into $3000, which is more than I made in a month of bussing tables. I went home, paid my rent and blew the rest on useless things I can't even remember. + +What does any of this have to do with $GME? Well I'm still chasing the same high as I was when I was 18. I don't go to the casino anymore, but I've got something even better on my computer. I bought $2k worth of weeklies on Jan 25. Before everything crashed, they were worth over $100k, more than enough to fix most of the problems I've caused in my life. BUT, I was still standing around that craps table. The roller had just made his 30th point in a row, $GME was on fire and couldn't possibly roll a 7! I put my 2k back in my pocket and shoved the rest on the pass line. A few minutes later, the croupier inevitably yells "7 out!" and just like that, I'm back to nothing. + +Now I do what every moron around the table does. You reach back into your pocket, pull out the 2k and make a deal with your maker. "Just let it happen one more time. I won't be greedy THIS time and I'll stop when I hit 50k." I stop looking at the smart bets and start eyeing the center of the table, where hard ways are paying 10:1. Yeah, that'll be how I get back to 50k. A couple of those in a row and I can put a down payment on a house. 5 minutes later, I'm on my way out to the car and I feel like I've been punched in the gut. Again. + +Every one of you in this subreddit is another person sitting at the casino. Everyone has their game. The people holding $GME stonks right now? You're playing baccarat. If you've never heard of it, it's what James Bond plays in the old movies. It's about the most boring thing you can do. Two hands are dealt and you're betting on which one wins before anything happens. There's no actual skill and it's the same thing as betting heads or tails, while losing 1% of your bet every time. + +The people who cashed out and picked something else like $AMC or $BB? Those are the slot players. You had a big hit and now you're going to switch machines because the other ones are "due". You're looking for the exact same magic, thinking there was something smart in your play, when it was really just dumb luck in timing. + +The people saying "If Daddy Elon or Cowboy Cuban gets in, we can trigger a squeeze!" You're the guy who spent too much money in the first 20 minutes of the trip and now you're begging everyone else for a loan. + +Tldr: Nothing is happening with $GME. Stop saying "tomorrow is the day." Billionaires are not coming to bail you out. If institutional investors come in, they're waiting for this constant downhill slide to end at where the stock belongs, probably around $20. You can't trigger shit by holding. The HFs will outlast you. + +Edit: Screenshots from the worst 40 minutes of my financial life https://imgur.com/a/MlTRJmx + +Edit 2: JFC, some of you are takin WSB way too seriously. You should not be using reddit for DD. Also, this is not financial advice. Don't take financial advice from someone who tells you stories about chasing highs at casinos. + +Edit 3: This is WSB, my dudes. I'm glad most of you were entertained by my story. For the few of you who got that worked up by a random stranger on the internet telling you that he's a degenerate, you may actually have a problem. https://www.ncpgambling.org/help-treatment/ +80% of the time Apple keynotes causes a dip. And yet with today's shitty totally lackluster keynote, stock pops in the afternoon. + +WTF am I missing here? + +- iPhone 7 leaks got basically EVERYTHING right ahead of time and nothing I saw was more than iterative. +- Apple watch should never have been NOT waterproof +- Pokemon Go and a mario port of a runner? + +Seriously this stuff has to be seen as underwhelming by people in the industry. The only interesting thing to me was the airbuds and they are freaking proprietary!! + +Maybe I underestimated the power of Sia? IDK someone help me understand. lol. + +note: i have no position. im just curious and mad that i got it wrong. + + +EDIT: And there you go. Down 2.34% @ 1130EST +Good evening reddit, +I was hoping to get some advice on what we could do. + +A bit of background: We moved into our town house around 6 months ago. We went through everything with our solicitor including the strata reports.The report stated that: + +- There were no current or proposed special levies and no history of special levies. +- The Sinking Fund Plan included in the strata report provides a guideline as to how levies should be set from 2014 to 2028 so the owners corporation will have enough funds to conduct building repairs and works required. + +I've just received a special levy notice (for 'remedial works') for the amount of roughly $44k in 2 instalments, both by the end of the year. + +The only thing I can think about is for them to fix the common area tiles which are damaged (more cosmetic in my opinion) and water leaks in the complex. Which I didn't think would cost $440k. + +My question is: + +- Is this a normal amount that people get slapped with? (for reference, it is 10 units) + +- Can they need to tell us what it will be used for? + +- Can they give us such short notice? All $44k is due by August. With us buying the town house quite recently, it is a lot of our savings at this point. + +- Can they possibly allow us to extend the payment date? I have tried asking the Strata but they are not 'facilitating this at this time'. + + +TD;LR: We got slapped with a Special Levy of $44k to be paid by the end of August, 6 months after purchasing. Can we do anything about it? + +Edit: Spacing +Morning AusFinance, + +As many keen observers of the American markets would know inflation numbers came in yesterday at 4.2% (above expectations). The American markets reacted negatively as higher than expected inflation rates will inevitably lead to higher interest rates which impacts on the tech sector heavily. + +Historically does the RBA interest rates change or copy the American markets? or do we think that they won't be increasing until we hit 4% unemployment? If we do follow, how much do we lag by? + +The scenario I see playing out in theory is inflation concerns in America leading to increased interest rates, how does this affect the AUD and our exports? + +Happy for open discussion on this from all angles e.g economic growth implications, currency, housing, employment. +Might be a dumb question because you can't time the market... + +&#x200B; + +But with the[ASX 200 approaching its record high](https://www.abc.net.au/news/2019-07-05/asx-200-record-high-approach-wall-street-aud/11280874), would now be a bad time to buy ETFs? + +&#x200B; + +I've been sitting on the fence for AGES and decided to start investing after I get my next tax return... but with the sharemarket getting so close to record-high I'm not sure if that would be smart move? +As title suggests, the RBA is rising rates to try and stop people buying things, to ease inflation. At the same time our government is spending money to try and easy the cost of living to help people buy things. Can someone help me understand how these two strategies can work together? +I will preface this by saying it is super, super dumb and underlines my ignorance in the subject, but my family are useless when it comes to finances (so I have to figure it all out myself) and the sh\*t I am reading on real estate sites is either not clear or flat out contradictory. + +Lets say that I am willing to purchase a house for $500,000. + +I have a deposit of 20% ($100,000). This is after paying stamp duty, conveyancing, etc. + +Are my monthly repayments going to be calculated on the $500,000 initial loan, or are they calculated on the initial loan minus the deposit ($500,000 - $100,000 = $400,000). + +&#x200B; + +&#x200B; + +&#x200B; +🚩Get in super early on this wealth creation saving project and secure your passive Binance-Peg BUSD income! + +BankersDream team consists of German financial experts paired with a software developer. The goal is to build an asset with an ecosystem fuelling the volume for the rewards to consistently secure your passive income. + +🚩BankersDream is highly community driven and the team wants to work with the community to make this into the next big reward token. + +↪️ Always feel free to enquire in their socials, the team will answer any question ! + +Buy on PancakeSwap + +📜Contract address: 0x966f75a3A48BD6133220Bf83A62429bf04Adf29f + +📊 Tokenomics + +\- 8% Reflected in PEG BUSD-T to all holders + +\- 1% Liquidity + +\- 2% Buyback and burn wallet + +\- 4% Marketing + +\- Anti-whale mechanism, no wallet can hold more than 3% + +📌BankersWhale + +\- The first community idea which will be implemented into the system is BankersWhale. + +\- 1.5% of the marketing tax will be used as a community investment fund. The BankersDream team will use this money with community suggestions to invest in various altcoins and meme coins. + +\- New projects can also reach out to BankersWhale to apply for an AMA with the BankersDream community, in which they can present the idea and receive an early investment from our fund. + +\- 75% of the yield generated by the fund will be distributed to holders, applying the same logic as for the BUSD rewards. + +\- 25% of the yield will be kept for further development costs of the ecosystem. + +\- The BankersWhale fund is a risk-free way for their community to generate another form of income. + +\- Only BankersDream Holders will receive the participation in the yield! + +Visit and learn more at[ www.bankersdream.org](http://www.bankersdream.org/) or Join our Subreddit r/Bankers_Dream. + +Daily AMAs at 3PM EST in our TG. +I understand that it has the highest market cap, but why does it control the price of seemingly all the other coins? When it is in a bear run, all the alt coins also bear. Why? +With things going on now on the market I almost lost trust in anything whether it’s CeFi or DeFi sector. + +We all know what happened with LUNA, now we see FTX dumping heavily - and it’s all not our personal fault. CZ announced that they were going to liquidate a huge amount of FTT, FTX exchange is limiting FTT withdrawal. And they are both centralized. Big people with big wallets always control the world unfortunately and we can see it now clearly. + +As for DeFi it is like stepping into a puddle and you don’t know how deep it is - you might fall. Like with anything unregulated, DeFi protocols are exposed to criminal financial activity. Money laundering probably is a thing plaguing projects all over the place. So I can not find a shelter in DeFi as I feel like the sheer fact that money laundering is growing in DeFi can be a problem not only for the industry but for the users like me too, as we face lots of regulations and DeFi is becoming centralized gradually. I still hope DeFi can probably be a way out from the market situation when users become more experienced and can filter themselves what is suspicious and what’s not. + +Maybe someone can give me another hope and vision on what can probably be done to have a normally regulated market? How and who should regulate it? Maybe it shouldn’t be regulated at all as we already see successful private investors on the market who just behave based on common sense? +Hello guys, i just invested in [CoinMetro](https://coinmetro.com/) and i was wondering what are your opinions or predictions on the token price after their platform will launch? + +The project looks solid and i have big hopes on this. They already colected $10 milion in the ICO. + +Thank you in advance for your answers! + +**Please do not spam or shill!** + +really what gives, what happened to the computer share sticky at the front of the sub Reddit? I still need to transfer the rest of my shares and wanted to go back and see the instructions for transferring from different brokers. I know I’m not the only one who is going to be looking for this, or worse not know it exists because they’re new. + +edit: you guys that are on new, do you realize that you might be a bit more gatekeepy and have more free time than the majority of people visiting the subReddit? + +Just because you’re annoyed by seeing these post does not mean it’s not helpful. Please realize that if you’re here sorting by new often enough to be annoyed you probably have more free time and are willing to sift through posts; whereas most people in general and most apes are not. It’s about what’s best/most efficient for helping apes DRS. not personal dudes. + +edit ii: not sure why some are taking this as an attack on mods - never implied any such thing. not personal towards anyape or modape. +https://www.cnbc.com/2022/03/08/coca-cola-follows-mcdonalds-starbucks-in-suspending-business-in-russia.html + +PepsiCo, Coca-Cola, McDonald’s and Starbucks each said Tuesday they are suspending business in Russia after that country’s invasion of Ukraine, a symbolic step-back by four iconic U.S. brands. + +Pepsi has sold its cola in Russia for more than six decades, even when the company had to trade its soda concentrate for Stolichnaya vodka and warships. McDonald’s opened its first location beyond the Iron Curtain in Moscow, just months before the Soviet Union collapsed. + +In recent days, Pepsi, Coke, McDonald’s and Starbucks have drawn criticism for continuing to operate in Russia while other U.S. companies backed out and paused sales. + +Yale Professor Jeffrey Sonnenfeld compiled and made public a list of U.S. companies that have withdrawn from Russia following President Vladimir Putin’s invasion — and those that hadn’t. Until Tuesday afternoon, Coke was among the most recognizable names on the spreadsheet. + +“Our hearts are with the people who are enduring unconscionable effects from these tragic events in Ukraine,” Coke said in a brief statement Tuesday afternoon. “We will continue to monitor and assess the situation as circumstances evolve.” + +Russia represents one of the few regions worldwide where Coke’s rival PepsiCo has a larger presence. In a regulatory filing, Coke said its business in Ukraine and Russia contributed about 1% to 2% of its consolidated net operating revenue and operating income in 2021. + +Pepsi, on the other hand, generates roughly 4% of its annual revenue in Russia, though is not halting all of its Russian business. The company said it will keep selling some essential products, like baby formula, milk and baby food in the country. + +The company will suspend Russian sales of its Pepsi-Cola, 7Up and Mirinda brands, along with capital investments and all advertising and promotional activities. + +“As a food and beverage company, now more than ever we must stay true to the humanitarian aspect of our business,” PepsiCo CEO Ramon Laguarta wrote in a memo to employees viewed by CNBC. + +The Wall Street Journal reported earlier on Tuesday that Pepsi was weighing different options for its Russian business, including writing off its value. Economic sanctions have greatly complicated the process of offloading Russian assets. + +Yale’s Sonnenfeld makes the case for companies ceasing operations in Russia +Since the Russian invasion of Crimea in 2014, many U.S. companies have looked to reduce their exposure in both Russia and Ukraine. Some restaurant chains, like McDonald’s, have sold off some of their company-owned locations to local franchisees. + +McDonald’s announced Tuesday all 850 of its Russian restaurants would temporarily close. Until then, the company had stayed silent on the war, drawing stronger criticism than even the handful of restaurant companies that condemned the invasion but kept their locations open. + +About 84% of McDonald’s Russian locations are owned by the company, while the rest are operated by franchisees. Owning more of its restaurants means greater revenue for the company, but greater risk in times of turmoil or economic downturn. + +Starbucks went a step further than McDonald’s, saying it would suspend all Russian business activity, including shipment of its products. Starbucks CEO Kevin Johnson condemned the attacks in a letter on Friday. + +Of the two restaurant companies, McDonald’s has a larger presence in the country and receives a higher percentage of its global revenue from those sales. +For the people out there who follow the macro environment, there is always a lot of discussion in past market bursts (such as 2008 or 2000) that there are or were fed policy mistakes that either caused or contributed to the meltdown. + +This is relevant now because as we come into talks about tapering, there is a lot of chatter about a potential fed policy mistake one way or another. + +But I think this is a poor way to think about these items, and views of mistakes completely ignore the context of the macro environment and ***why*** the fed made the supposed mistakes in the first place. + +**Most Policy Mistakes Are Fed Decisions Where They're Forced To Choose Between Two Bad Choices** + +# Fed Policy Quick History: Caught Between Tough Choices + +Lets start with a quick history of important fed decisions, many which have been labeled policy errors in the past. + +* **1980-1982 Volcker Rate Shock:** This was the worst recession the USA had since the GFC, and capped off an era where Inflation was the boogeyman and there were multiple bad recessions and employment shocks. At this time, inflation was running extremely hot (over 10%), and it was starting to get out of control. + * **The Fed's Dilemma:** Raising interest rates would kill the economy, which was already having a tough time dealing with the inflation of the time. Rates would have to rise to 18%, which would seriously cut off lending growth. But it would effectively stem the tide of inflation. Volcker chose the very tough decision to raise rates to 18%, which effectively cut inflation down significantly. +Another point worth making is that the introduction of Reagonomics was a key factor in reversing the age of inflation of the 1970's, where there was a significant lack of investment in new productive capacity. At the time, this was extremely beneficial. OF course, we're more or less at the opposite end of that spectrum right now where we have a glut of overinvestment and have possibly taken the 80's policies too far (obviously subject to political debate and views). +* **1998 LTCM Bailout:** This was a historic bailout that occurred during a time of a lot of international market turmoil (Asian financial crisis + Russian default) and a burgeoning US equity bubble (dotcom bubble was starting to really pick up steam here). The sudden failure of LTCM however threatened systemic issues in the financial system, and thus became the first bailout of a private hedge fund by the FED. This was a new precedent, and many believe it kickstarted the parabolic phase of the dotcom bubble. + * **The Fed's Dilemma:** Do you allow the LTCM meltdown to spill into the rest of the US banking system and economy, or do you bail out LTCM and support the economy + job growth? The fed chose the latter, which at the time supported their mandate of stable prices and full employment. They did not have a crystal ball suggesting an even greater equity bubble would form from this. +* **2000-2003 Dotcom Bubble Burst:** After likely contributing to the dotcom bubble with the LTCM bailout and interest rate decrease, inflation started to rise a bit in late 1999, and credit growth and equity mania forced the Fed's hand to cap the bubble before it became even more difficult to control. The fed did a few emergency rate hikes, and the credit cycle quickly turned down, which had been feeding the dotcom mania. + * **The Fed's Dilemma:** Critics of the fed would have said that the emergency rate hike burst the bubble. Critics of the fed also said that they let the bubble get out of hand. Literally, there was no good choice here except to bite the bullet and hope the landing wasn't too hard. In reality, the *real* economy did have a soft landing in the dotcom bubble, partially thanks to the fed's interest rate decrease after the bubble really started to get going. +* **2007-2008 GFC:** After dropping interest rates to keep the economy afloat during the GFC, very few people wanted anything to do with equities, especially tech stocks. This caused a shift in behavior towards real estate, which was already quite strong and resilient even during the dotcom crash. At the same time, the global economy was recovering from the crises of the late 90's and dotcom era, the euro was being adopted as a currency, and China was rising as a member of the world trade organization. All of the above created a perfect storm for US real estate getting piled into via carry trades, while the US Dollar was getting depreciated by all the above factors. + * **The Fed's Dilemma:** The fed clearly started to see the monster that was being created in 2005. Not only was credit growth going parabolic + real estate lending going off the charts, but inflation was also surging in the USA due to all the aforementioned factors. Gas prices surged to over 4$ per gallon (at a time when many drove "clunkers"), Copper surged to very high prices, and real estate / rent was also going parabolic. Greenspan was looking into a surge in inflation that hadn't been seen since the 70's, and was forced to decide between allowing real estate and inflation to go completely unchecked, or to raise rates very quickly to stem the flows from getting more and more out of hand. +He chose the latter of raising rates, which then led to the chain reaction causing the GFC. Thing is, we don't know how much worse things may have gotten if Greenspan chose to ***not*** raise rates. Think of how much larger the US real estate bubble would have become if it wasn't cut off at the source. As bad as things got in 2008, they could have been worse if they allowed things to continue. +* **Post GFC Environment:** After the GFC, the Fed shifted stance and most central banks became far more accomodative. The reaction of policymakers to any asset drawdowns has become far quicker and far larger. With that said, there have been some scares where the fed was tightening a little bit, which threatened to choke off the economy. The most noteworthy one was in late 2018, where the rate hikes and QE Rollback caused a 20% drop in markets before the fed reversed policy to engineer the 2019 rebound. This was likely a close call in some regards. + + +# Lessons and Takeaways + +From all the above, there are a few important lessons for investors when it comes to understanding equity and credit cycles + risk in the macro economy. + + +1. **The party likely will or can continue so long as the central bank / government are accomodative:** You'll notice that all of the above recessions occurred during a time when the central banks were ***forced*** to tighten financial conditions. + +2. **Inflation (asset inflation or economic inflation) is always what takes the punch bowl away:** So what causes the fed or government to reverse accommodative policy? Almost always inflation. With a mandate to maintain stable prices and employment, inflation in the real economy tends to damage consumer's wallet and destabilizes prices. Inflation in assets typically comes with credit expansion, and threatens to destabilize employment and prices as it becomes larger and increasingly more fragile. These items generally tie the central banks' hands and force them into tough decisions. The ***levels*** at which the fed is forced to take away the punch bowl however is a lot more subject to opinion, and definitely not precise however. + +3. **Raising rates or tightening policy into an overleveraged environment creates systemic risk:** If you note the difference between the 1980's rate increase from Volcker, and the interest rate increases from the GFC or even in 2018, you'll notice how much more sensitive the economy is to rising rates. And furthermore, you'll likely realize how much more convex the downside gets with the more debt that exists in a system. + +4. **Debt in a system puts a soft cap on long term inflation rates:** Because central banks tend to get forced into action when inflation rears its head, and because the central bank behavior causes debt defaults and credit issues to arise, this forms something of a natural soft ceiling on how high both inflation as well as interest rates will go before triggering a deflationary shock. Once again, this isn't any set level, but you get a good broad view of this by looking at long term interest rates since the 80's, and then looking at aggregate leverage / credit. + +5. **The fed shifting to less accomodative stances isn't consistent with timing of market selloffs or recessions:** If you're trying to time the market based off this alone, you may get it right some times, but other times you would be far off. This timed the top of the dotcom bubble, but also missed out on the top of the GFC by over two years and quite a few rate hikes. It also missed out on most of the gains in 2017 and 2018 despite rising rates. + +6. **The fed doesn't make "mistakes", they make choices to deal with the problem at hand over the problems that may occur in the future:** In nearly every situation, the fed's dilemma caused them to choose between dealing with the problem that is currently occurring in the market with the risk that their solution could cause a problem somewhere else down the road. In every instance, the fed chooses to deal with the ***current*** problem over the problem that may be. And most people would not do anything different, because we don't have crystal balls and can't predict the future. I do think the fed has made bad choices, but most of the choices actually fit their **mandate**. In other words, don't hate the player, hate the game. +In a recent [study by KIS Finance](https://www.kisbridgingloans.co.uk/finance-news/cryptocurrency-consumer-research-and-data-autumn-2021/), it was revealed that over two thirds of cryptocurrency investors borrowed money to make their purchase, rather than using income and/or savings. + + +Overall, more than two thirds (64%) of those who have invested in cryptos, used one or more credit facilities to do so. + + +Cryptocurrencies are highly volatile and a risky way to invest large sums of money. Bitcoin, for example, has been in the news in recent weeks as it reached a value of over $64,000 (approx.. £47,800). This would have undoubtedly brought in new investors as they try to take advantage of the price increase. However, in just seven days, the value has dropped by over $7,000 (approx. £5,200) to a value of just over $56,000 (approx. £41,800) per coin. + + +Percentage of crypto investors who used one or more credit facilities to fund purchase, by age + + +18 - 24: 70% +25 - 34: 64% +35 - 44: 68.9% +45 - 54: 62.5% +55 - 64: 45% +65+: 25% + + +As the data shows, those aged between 18 and 24 were the age group most likely to use borrowed funds to make their investment, with a significant drop of borrowers in the two highest age groups. + + +What type of credit facilities have people used to fund cryptocurrency investments? + + +When we break down what kinds of credit facilities people have used to purchase cryptocurrencies, over a third (35.5%) made their investment using a credit card. Almost a fifth (19.3%) funded the purchase out of their overdraft. + + +Credit card: 35.5% +Overdraft: 19.3% +Personal loan: 14.6% +Secured loan: 9% +Payday loan: 7.6% +Re-mortgage: 3.3% + + +Holly Andrews, Managing Director at [KIS Finance](https://www.kisbridgingloans.co.uk/), comments on the findings. + + +“In recent years, cryptocurrencies have become far more mainstream with tech giant PayPal now offering a cryptocurrency trading platform. + + +Although cryptos, and specifically Bitcoin, have seen people make thousands or even millions in profit; the last week or so has shown that they are incredibly volatile and can see investors losing massive percentages of what they put in very quickly. + + +It’s concerning that so many people have turned to borrowed funds to purchase cryptocurrencies as they are extremely unpredictable and offer no guarantees that the money invested will be returned. So, if people are spending money that they don’t have, and losing it, this could cause some serious financial challenges later down the line. + + +The biggest concern is whether people will have the ability to pay the money back. With a very strong possibility of losing the money for good, people may be left severely out of pocket and racking up interest on their credit cards and overdrafts. Also, some credit card providers will view this type of transaction as a cash advance, meaning a cash advance fee and higher interest rate will be applied. + + +So, if you are thinking of making an investment into cryptocurrencies, you should only invest an amount of money that you can afford to lose and it should be funded through income and/or savings rather than a credit facility. + + +Borrowing money to invest in cryptos can become a very vicious cycle that’s difficult to break. Once you start losing money, it can be very tempting to invest more to make the money back; especially if you don’t have other means of repaying the funds. + + +Great care should be taken when you invest money anywhere, but especially when it’s something as volatile as cryptocurrencies. If you can, seek some professional financial advice first and never invest more than you can afford. Buying cryptocurrencies should also not be your only form of investment or savings as there is very little stability – spread your investments out and treat cryptocurrencies as a smaller, fun investment.” +[https://www.dw.com/en/starbucks-bans-staff-from-wearing-black-lives-matter-t-shirts-accessories/a-53784831](https://www.dw.com/en/starbucks-bans-staff-from-wearing-black-lives-matter-t-shirts-accessories/a-53784831) + +Does news like this scare you away from SBUX with such a big movement happening? + +&#x200B; + +EDIT: [https://www.foxbusiness.com/markets/starbucks-changes-policy-to-allow-black-lives-matter-t-shirts](https://www.foxbusiness.com/markets/starbucks-changes-policy-to-allow-black-lives-matter-t-shirts) STARBUCKS NOW CHANGES POLICY THIS MORNING TO ALLOW BLM T SHIRTS AND PINS +..(pretty sure this meeting wasn’t planned in one day) + +Only a few days before this meeting, the market falls drastically and there is blood on the street. But suddenly, just one day after this meet, markets climb up like crazy numbers, even unheard by many people, and the public is openly told about this meeting. Why not tell about this news on the same day? Why not stop the bloodbath if they are so in support of crypto and decentralisation? Were they upto something, say, buying the dip? To make the market in their favour, make it easier to manipulate it? Also a Goldman Sachs news was thrown in. + +No manipulation at all here folks. This is truly dangerous for decentralisation. Stop trusting these people and institutions. + +Edit: Here are the tweets that I am referring to:: + +1. [Musk Tweet](https://twitter.com/elonmusk/status/1396914548167233537?s=21) + +2. [Saylor Tweet](https://twitter.com/michael_saylor/status/1396915801492439044?s=21) +Hey guys, I am rather confused about how money works. Fundamental questions like: + +Where does money from come? + +What is the role of banks? + +Who are countries/governments in debt to? +etc. + + +What are some good books which will explain these type of questions to me? They can be dry textbooks, preferably not though :) + +Edit: Spelling + +Think about it. + +Real estate takes so much work: you have to maintain the house, find a tenant, there are unexpected costs and taxes,... + +&#x200B; + +Isn't Bitcoin a more hassle-free and better form of investment? You just have to buy and HODL and you get better appreciation than with a house. +https://www.cnbc.com/2022/12/07/carvana-shares-tank-as-bankruptcy-concerns-grow-for-used-car-retailer.html + +Our beloved online car retailer seems to be giving up. The company, fraught with problems now has another one. Majority holders of their unsecured debt have signed agreements binding them to work together. + +Unless these cucks sell to a giant ass tech company (Amazon), CVNA may run out of gas. + +If they go bankrupt, they will likely liquidate their inventory, which would be the equivalent of bukake-ing on the used car market, increasing supply and bringing down prices. + +It's been real. Guess all that techs is not gold. +Stacking every month with fixed amount. Being doing this since October 2017. Decided to start a blog a year ago in order to motivate fellow stackers. This is a long game, no shortcuts, no get rich quick schemes. Instead, a get rich slowly scheme. Yes I know, don't dox your bitcoin amount. Stupid of me to do so, but necessary if I wanna tell this story. Happy stacking fellow plebs. Enjoy reading! + +[https://er-bybitcoin.com/stacking-em-volume-12-june-2021/](https://er-bybitcoin.com/stacking-em-volume-12-june-2021/) +[tiktok rejects Microsoft deal](https://www.google.ca/amp/s/www.nytimes.com/2020/09/13/technology/tiktok-microsoft-oracle-bytedance.amp.html) + +Looks like the Microsoft-Tiktok deal has fallen through. + + +“The owner of the Chinese app TikTok rejected an offer on Sunday from Microsoft to take over the firm’s U.S. operations, according to Microsoft officials and other people involved in the negotiations, as time runs out on an executive order from President Trump threatening to ban the popular app unless its American operations are sold.” + +However, it appears Oracle is still in the running. + +“The move leaves Oracle — one of the few Silicon Valley firms to publicly ally with Mr. Trump — as the sole publicly known remaining bidder for TikTok.” + +Once there were rumours going around of a potential deal MSFT share price began to rise, but now that the deal’s fallen through, what could this mean for MSFT tomorrow? +Source: [https://finance.yahoo.com/news/corsair-gaming-reports-record-first-110000957.html](https://finance.yahoo.com/news/corsair-gaming-reports-record-first-110000957.html) + +**First Quarter 2021 Highlights** + +* Net revenue was $529.4 million, an **increase of 71.6% year-over-year**. Gamer and creator peripherals segment net revenue was $175.9 million, an **increase of 131.9% year-over-year**. Gaming components and systems segment net revenue was $353.5 million, an increase of 51.9% year-over-year. +* Gross profit was $160.3 million, an **increase of 103.9% year-over-year**, with gross margin of 30.3%, an improvement of 480 basis points year-over-year. Gamer and creator peripherals segment gross profit was $68.9 million, an **increase of 211.1% year-over-year**. Gaming components and systems segment gross profit was $91.5 million, an increase of 61.9% year-over-year. +* Operating income was $67.3 million, an **increase of 404.5% year-over-year**. +* Adjusted operating income was $80.4 million, an **increase of 221.4% year-over-year**. +* Net income was $46.7 million, or **$0.47 per diluted share**, compared to net income of $1.2 million in the same period last year, or $0.01 per diluted share. +* Adjusted net income was $58.2 million, or **$0.58 per diluted share**, an **increase of 420.4% year-over-year** compared to adjusted net income of $11.2 million in the same period last year, or $0.13 per diluted share. +* Adjusted EBITDA was $80.4 million, an **increase of 196.6% year-over-year**, with adjusted EBITDA margin of 15.2%, an improvement of 640 basis points year-over-year. +* As of March 31, 2021, we had cash and restricted cash of $125.6 million, $48.1 million capacity under our revolving credit facility and total long-term debt of $294.3 million. +* Cash flows from operations **was $27.8 million, which increased from $2.0 million** in the same period last year. + +&#x200B; + +**The Company is updating guidance for the full-year 2021:** + +• Raising net revenue to be in the range of $1.9 billion to $2.1 billion from $1.8 billion to $1.95 billion. + +• Raising adjusted operating income to be in the range of $235 million to $255 million from $205 million to $220 million. + +• Raising adjusted EBITDA to be in the range of $245 million to $265 million from $215 million to $230 million. +Many investors who previously had 5% of their networth in gold are allocating an additional 5% of their net worth to bitcoin. Investors are starting to allocate the same amount of capital to bitcoin as they have allocated to gold. + +Golds market cap risisng from $10T to $25T is a given during a period of high inflation and financial uncertainty, and if investors are allocating the same amount to both gold and bitcoin then theres nothing to stop bitcoins market cap also rising to $25T. + +That would mean a 25x rise from this point and price per bitcoin above $1 million. + +Investors simply allocating the same percentage of their networth to bitcoin as they do to gold in an inflationary environment could easily mean a bitcoin price above $1 million. +I've developed a reputation among my social circle as the guy to talk to when you need money advice. A couple of younger guys approached me to ask if I'd be willing to teach a personal finance primer over 5-6 weeks in the summer, to help the younger folks who are just getting started and know nothing about money. + +I'm planning to try and make this relevant and interesting to younger folks by covering topics that people in this age group will definitely come across in the next few years. So far I'm planning to cover: + +* General Principles: (i.e. Debt = bad, Savings = good) +* Student loans, how to avoid and/or minimize them +* Credit (when/how to use it, how not to use it, understanding of things like billing cycle, how interest accumulates, not paying interest to build your credit score, etc) +* Auto financing (should I just lump this in under credit?) +* Retirement accounts (various types) +* Insurance (types you need, types you don't need) + +My personal money philosophy errs on the side of frugality and preparedness for the future, but I want the class to be fun too, not just a salty 30-something telling 20-somethings all the mistakes I made when I was their age. Unlike Dave Ramsey, whose primary goal is to help people fix their money mistakes, I want to help the younger generation avoid these mistakes in the first place. +About to put on offer down on either a ground floor flat or top (4th) floor flat in the same block in Southwark, and considering the recent flooding across (different) areas of London, and recent IPCC report, I've second-guessed my decision to offer. + + +Did anyone else factor in future flood forecasts when making a house purchase? + + +Most areas are protected at the moment by the Thames Barrier, and whilst predictions of floods seem to show us being okay for 30-50+ years, but I imagine the penny will drop at some point, and house prices in at-risk areas will drop significantly. + + +Can't tell if I'm going mad in assuming all this and pulling out. My partner thinks I'm catastrophising and that we should proceed with the offer given that central London is bound to be protected from future floods and sea-level rise. + + + +Some flood data: +https://flood-map-for-planning.service.gov.uk/ + +https://coastal.climatecentral.org/map/9/-0.0933/51.2441/?theme=sea_level_rise&map_type=coastal_dem_comparison&basemap=roadmap&contiguous=true&elevation_model=coastal_dem&forecast_year=2050&pathway=rcp45&percentile=p50&return_level=return_level_1&slr_model=kopp_2014 + +https://en-gb.topographic-map.com/maps/lpj5/London/ + +(There was another post similar to this in UKPF last year which I found very insightful. But I'm posting this with as my question is focused on London specifically. FWIW I would definitely 2nd guess/ not buy a property in a forecasted flood plain area outside of central London) +Does anyone wonder why all the sudden for the last 2-3 years, new houses have not being built fast enough so house prices has to go up, all the sudden vacancy rates is at all time low, while immigration has reduced/stopped during COVID? + +Where’s all these “new” people coming from? +By now I'm sure most people on this sub have seen the news that New Zealand has increased its cash rate by 0.25% ([https://www.bbc.com/news/business-58812068](https://www.bbc.com/news/business-58812068)) and I wanted to find out peoples opinions and thoughts on when they think Australia will follow suite. +Anyone here willing to share what was it like during those scary times? + +Did you have to go back to work? Was your passive income still functioning? + +If you relied on dividend, did you get any? If you relied on pension, did you get any? + +Or did you double down, took the opportunity and became even wealthier? +Hey guys, + +I am very curious as to how people pull this off. I live in CA where housing can be a bit on the high side. I am currently looking for homes in the $400-$500k range which is doable for me since I have been diligently saving and have enough for a down payment plus more as an added cushion. I have no debt and always been somewhat responsible with my money making sure to max out IRA / invest in other index funds. My salary is above average as well so that helps a lot. + +I am trying to budget out the monthly expenses of owning a home and that is where my question comes into play. How do people who make the average of about $50-$60k still own homes and provide finacially for themselves and families in the future? Is there something I am missing or are these people just living check to check not really worrying about their future financial independence. + +***** EDIT*** + +Thanks a lot for the insight guys. I guess the key for many people living in CA in a home, that is $500-$600 which is typical on where I live, is having dual income of more then $100K combined and even with that does not leave a lot of room for savings/investing let alone doing other activities like vacations and what not without going pay check to paycheck or even worse into debt. + + + + + +Years ago, I read a post on some FIRE-related blog where the author wrote a letter to his (her?) spouse outlining what they should do in the event the author dies. From what I recall they covered things like where to access cash in the short and medium term for bills, where they had life insurance policies, retirement accounts, estate planning paperwork, etc. I can’t find that blog post, but it has stuck with me years later. + +Even though all our estate planning is in order, beneficiaries updated etc. I am realizing I should probably write a similar letter for my spouse, in easy-to-follow, plain English. Especially, since I handle most of the financial affairs in our house. + +For those of you that have written a similar letter, what are some things that should be included? +Ok, I literally know nothing about bitcoin. Can anyone give me any insight to what I may be dealing with? + +I believe he began investing circa 2011 or 2012 and didn't stop close up until his tragic passing in July 2014. + +He had $16,000+ in the bank to do with what he wanted when he started investing (not from bitcoin), and not including another side income. He was only 17-18 when he began, (just turned 20 when he passed) but really intelligent and ahead of his time. He would always tell me he was investing "a lot" because he believed it was going to blow up in a couple years. A lot of what he said went over my head, because I had never heard of it at that time, but he kept talking about mining them and was always telling my dad how it was going to really pay off. + +The reason I'm asking is because he left me his Antminer bitman USB that he used for bitcoin, but no information... + +I'm just gonna be honest, I'm super dumb at this stuff. This thing has just been sitting in my jewelry box forever. How would I go about figuring out what exactly is on this? Then what would I do? If I don't have the information I need - can I take it somewhere for someone to help me, or is it a lost cause that should just remain untouched? +I thought this story of a 19 year old sucked into the world of the "gig economy", who ended up with spiralling debt and eventually committing suicide was a cautionary one. + +If financial education at school necessary? Should councils be allowed to let debt for fines spiral out of control like this? + +http://www.bbc.com/news/resources/idt-sh/How_debt_kills +My parents want to sell me their house for what they paid for it 20+ years ago at $140,000. They want to downsize into a smaller house, and I'm looking for somewhere to live so it could work out. They're not out to screw me, and have supported me through college and beyond, but since my younger more successful brother bought a house last year, they have said they want to help me. I know they're not out to screw me, that's quite literally the last thing they want to do. + +The "Zillow Zestimate" is north of $315,000, but the same layout houses in the neighborhood have sold for between $330k - $350k. However the house does need some work, looking at ~50k in work, but a lot of that is shitty manual labor which I don't mind doing for the next year or so over weekends and after work. It's a 4 bedroom, 2.5 bath, in a great community. + + +I make $50,000 a year gross, and have no debts, no liabilities. + +What would be the best way to proceed? Should I do it? I know it's a huge risk considering it needs work, however, I plan on staying in the area for the foreseeable future, and it's a great family home if my girlfriend and I go that route. On the other hand the same houses in the subdivisions rent for anywhere between 2.2-2.6k a month. My dad will help with renovation costs, and we have family friends that do construction work when it comes time to get things fixed beyond our skillsets. + +I honestly don't even know where to start in the process. Any help is appreciated. +As a avid follower and supporter of both crypto and musk, I don't think the Doge fans quite realise that he's taking them and all crypto for a sarcastic ride. + +If you've followed Elon's thoughts on crypto you'll know he's long been a cynic.. even at a time when he was applying his cunning satire to make out he was a doge fan. + +Recently many could have been mistaken for thinking Elon has had a change in heart towards crypto.. I was the same. + +However his consistent shilling of Doge is making it clear that it's just Elon's warped sense of Twitter humour at play and by pumping doge in tweets he's just taking the piss out of doge and crypto at the same time. + +In someways he's correct.. when the world's richest man can pump a meme coin in to the top ten largest cap coins by simply tweeting.. it is slightly embarrassing. + +A lot of innocents are going to get burned when the doge gets an injection of reality putting it down. + +When that happens.. not one f**k by Mr Musk.. who doesn't hodl any crypto let alone doge.. will be given. + +As much as I admire the guy.. he is taking the piss out of crypto here. + +**Edit: +13hrs after posting it transpires Tesla has invested $1.5 billion in bitcoin. +Also since this post Elon has continued to shill doge.** + +**Filing wording (note no mention of doge)** + + +*"Thereafter, we invested an aggregate $1.50 billion in bitcoin under this policy. Moreover, we expect to begin accepting bitcoin as a form of payment for our products in the near future, subject to applicable laws and initially on a limited basis, which we may or may not liquidate upon receipt."* + +**Latest Doge Tweets** + +https://twitter.com/elonmusk/status/1358319935978496001?s=20 + +https://twitter.com/elonmusk/status/1358542364948668418?s=20 + +https://twitter.com/elonmusk/status/1358558894813892608?s=20 + +https://twitter.com/elonmusk/status/1358300669178826752?s=20 + +https://twitter.com/elonmusk/status/1358300198041133056?s=20 + +Cynics will say.. ahh you were wrong he does support crypto. + +Supporters will say.. still no mention of Tesla buying or supporting doge.. so he's still taking the piss/ trolling. + +Doge (the world's first anti-alt meme crypto) is now up to number 9 by market cap and only 0.5b away from Litecoin (crypto's oldest most prolific altcoin..) which for many old coiners will most likely be seen as a somewhat of a travesty including Dogecoins original creator. + +https://www.reddit.com/r/CryptoCurrency/comments/lfaomo/my_joke_cryptocurrency_hit_2_billion_and/?utm_medium=android_app&utm_source=share + +Don't get me wrong the original dogecoin era was a laugh and good fun however.... +For me this like a 50 year old Dad thats just discovered the internet, trying to be all cool sharing memes from 2013.. all a little cringey TBH.. but hey every dog deserves its day in the sun just hope the owners have their sunscreen on to avoid getting burned ;) + +Side note: Interestingly Elon switched his crypto tweets from pumping doge to pumping BTC back to pumping doge around the time it looks like they've bought bitcoin.. it will be interesting to see if this could be classed as 2021 crypto style market manipulation in any way.. Elon may have been worried about it so hence the #bitcoin being removed from his bio and a switch back to doge to be safe not so long ago. Eco warriors will point out the irony of Tesla now own $1.5b of a energy intensive PoW crypto. + +Anyways deffo not boring in cryptoland and the saga continues 😂 +I'd like to formally apologize to everyone here. My behavior was completely out of line. Recently I had made a post congratulating traders for doing well and making gains today. I understand that this selfish act of virtually high fiving other penny stock traders might have offended some. + +In the future I'll be sure to only make threads that fit the theme of this sub reddit like... + +Whining about losing + +Pumping shitty stocks + +Posting pictures of my negative balance + +Asking why "insert shitty stock" here is not gaining + +What shitty stocks I'm bag holding + +IDEX + +What broker should I use to trade OTC's? + +Notating how much I lost when I brought a shitty stock pumped here + +What is the next "insert profitable stock here that gained 3000%" + +Why yes I'll be sure to stay on topic I don't want to gum up the thread feed with a pat on your back post. Why we might miss the next IDEX thread. +I applied for a credit card, I’m 23 and I have a 750 credit score and the card I applied to is with in that range, but I got rejected saying I don’t have a established references for a sufficient time, or number of accounts or paid to agree is too low. + +How can I improve these things? +Please let me know if this is the wrong sub. Also, as a preemptive warning, this is a post about someone who is doing well financially. I am not posting this to brag, but instead to try to make myself feel better about the stress I have at work so I can reassure myself that I only have to keep grinding through it for a few more years. For everyone who is struggling, I hope that Bernie Sanders ushers in a democratic socialist utopia and your student loan debt gets canceled. + +\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ + +I've spent some time trying to model out my finances, and I wanted to know if this plan to retire in 20 years make sense. Long story short, I'm married with a 1.5 year old. We will likely have another kid. We are both lawyers -- my wife makes low-mid 100s, and I'm a mid-year associates in Biglaw. For those who don't know, Biglaw is an area of law where associates are paid a crazy salary, but there's generally not a long-term future. I figure I have about 3.5 years left in me, after which I will more likely than not take a job that is a significant pay cut (though will probably pay in the low-to-mid 100s or the 80s-90s). We own a modest home right now; we may buy or renovate it, which I haven't factored into this analysis because there's no real way to know what will happen with any certainty. + +We finally paid off our student loans, and we will have about 100,000 in savings at the end of this year. We currently have 160,000 in our 401ks. Over the next 3 years, I would like to save 100,000 each year. I would also like to put our bonuses into savings (approximately 57K, 67K, 77K, and 87K each year). The chart below is based on us using only our 401K and the savings we accumulate over the next 3.5 years for our retirement. We will continue working to cover our expenses until that point. + +My model assumes that: (1) we will keep contributing the max to our 401K and it will grow 5% annually; (2) the 100K is invested and grows at 4% annually; (3) the rest of the savings is invested and grows at 4% annually; (5) we begin living off our non-401K savings at age 51, (6) we don't touch our 401K until age \~63; and (7) we live on $150,000 a year. + +Am I missing anything? Does anything in my model seem overly optimistic? + +Thanks! + +https://i.redd.it/b6lv0pilcqj11.png + +&#x200B; + +&#x200B; +How are you guys doing today? I’m a 22 year old, 740 credit score, and I make around $7,500 a month. I invest around 30% of my pay, and try to max out my 401k’s each year, I also just recently started a Mobile welding business on the side. I started the business with a truck that has been in my family since 95, I was able to get the business going and make some money. It has gotten to point over the last three months that I have spent about double the trucks value on repairing it and keeping it on the road. After working on it last month I started contemplating getting a new truck. So I went out and ordered a new heavy duty truck. The payment will probably be around the high 600’s to low 700’s. If I did not have a business I wouldn’t be buying a new truck but my thought process is that I can make the payment in about a half days work. I’m nervous about having a payment that high since I’ve never had anything that I haven’t bought with cash or a monthly payment under $220. So far I have only put a $500 deposit on the order, I will have to do all the financing once the truck arrives. Do you guys think I’m making a mistake here? I’m very money conscious and frugal so seeing a payment that high scares me. +What is the best course of action to take with the $1000? Obviously I don't want to spendit, but APY's Are so low on saving accounts and even money market accounts. Any suggestions for a better return on my money? + + + + + +Hello Redditors, + +I've recently separated from my husband and have learned that among the dozens of lies he's been telling he also never told me that he defaulted on his student loans last year. I am worried that I will be saddled with some of the financial consequences of this mess. I asked about it all but of course, it has been brushed away. + +Details +-in Ontario +-together 10ish years +-married +-do not own the house +-I found a letter demanding the full amount of almost 20k dating to August 2018 +-Found a letter from the CRA saying that the NSLC has applied to seize his tax return + +What are my options? +What do I do? +This is wild... +Thank you. +My mom passed away a few months ago and I'm about to get life insurance check for just under 100k. +Now, I'm only 20 years old. I used to think having over 1,000 dollars was overwhelming. +I'm so scared I'm going to handle it all wrong. + +My thoughts so far are: + +-first and foremost talk to my boyfriends uncle who is a VP at a large bank about investing. He definitely knows how to handle that much money. If anything that's pocket change to him. But I'm scared he's going to tell to just invest it all. Which actually might even be the best idea but idk. + +-buy property in the city I currently live in. I was thinking if I owned a condo in a growing neighborhood, I could sell it for a lot more in a few years. I could even make a down payment with half the money and then invest the rest. Also if I get a 2 bedroom, the other person renting would pay enough to pay the mortgage and I'd save a lot of money. (Everyone I know at my age and older is renting) +-I also want to pay my dad back for the ~10,000 he's given me for college. But I'm not even sure he'd accept it. Just a thought. + +-my stepdad also offered to let me invest in the home he just bought for 230,000 but was valued at 300,000. But i don't know much about that. + +-I'm not sure what I'm doing with my life yet but I might want to start a company of a related field of my college major and I might want a business loan. + +-I also want lasik eye surgery but that's only 2,000 and I supposed I could save up from working. It's technically a cosmetic surgery so it was always out of reach to me because insurance won't cover it. But I've bought my own glasses and contacts since I was 15 so I'd be saving money in the long run. (I.e. I don't consider it frivolous) + +-same with a new laptop and stuff like that. I know I can buy it otherwise if I saved my money but I think I'd be able to justify using the insurance money because it would be beneficial to my career. (Right now I don't have a laptop so I have to go to my school all the time and they're not always open) + +Thoughts I don't have: +-blowing it all on frivolous things +-buying a car or anything with a sunken coat +-putting it all in savings. I am really broke right now and I'm about to not have anywhere to live this upcoming summer. +-my sister's wedding is coming up and I think that would be shitty to use any of that money to pay for the bachelorette party and a gift and stuff. Right? I'm not sure. +-making a large and risky investment +-doing anything with it that wouldn't make my mom proud of me. + +Thoughts?? +Anyone else been in a similar situation? +I guess it's different because I'm not an adult with a steady salary. +Idk!!!!!! +If any of this sounds really dumb or idyllic in anyway please let me know. Don't hold back (obviously) I NEED to make the right choices. This is a huge responsibility and I've always fucked up in life with money, and this is my chance to redeem myself. +TLDR: +I have more money now than I've ever had in my whole life and I'm only 20. What now???? + +One way to make sure you aren't getting too much federal tax withheld from your paycheck is to update your [W4 Form](https://thefinancetwins.com/w4-form/?via=reddit) to reflect any major life events like a change in marital status or welcoming a new child into the family. + +Claiming fewer allowances means you are essentially giving the government an interest free loan. Getting that tax refund in April is pretty sweet until you realize you could have had that money working for you all year. + +Edit: Guide to fill out a [W4 Form](https://thefinancetwins.com/w4-form/?via=reddit) +I’m currently looking into buying my first home and I’m trying to put together some estimated costs of my monthly living expenses and wanted to know if there’s like a certain amount of your paycheck that should be saved each month say in case of an unexpected car repairs, home care, etc. not sure how much insurance is set to cover for certain things and want to make sure I’m prepared to cover these expenses. +I work for a start up and we are about to be bought out. I have 20,000 in stocks and they will, at minimum, be worth about 200,000. + +What is the best course of action? + +I am 28F. + +I currently make 85,000/yr. + +I own my house with a 300,000 mortgage (3.3% interest rate - monthly payment rolled up: 2,220). + +I have 80,000 in federal student loans. + +No other debt (I own my car, pay off credit cards in full every month). + +I max out my Roth and get the employer match in my 401k + +I have security fund of ~12,000 (slowly increasing this but I just purchased the house in October so it took a hit) + +I am thinking I want to pay of my student loans, but I am also interested in “house hacking” and renting out my finished basement for income (this was my plan B to pay my student loans) + +Should I pay down my mortgage and refinance for a lower monthly payment? + +I guess I am asking what hypothetically you would do if you were in my position + +Thanks! +Hi guys, I just realized that I’ve been spending recklessly every week buying unnecessary items and eating takeouts. I know I should be wise since I’m 21, but lately I’ve gotten into a bad habit of buying clothings and shoes I don’t really need. + +I’m trying to save now, but I can’t seem to understand how. Like is that a % of my income to be saved? Or based on my future needs? + +I’d like to know how you guys manage your expenses/savings. It’ll be helpful! + +Thank you :))) + +EDIT: Thank you guys so much for the detailed notes and advices!! Really appreciated!!!!! 🥰 upvoted y’all! +I work REALLY hard in a high stress environment but am very fortunate to have a high paying job. I’m 34 and currently have a total savings of right around $1M. This includes my investment accounts, personal brokerage, cash managed account, savings and checking accounts. I don’t own a home but I have a few hundred acres of inherited farm land in the Midwest. + +At the end of this year I expect that my net worth will approximately double since I’ve taken on a lot more responsibility with work. + +What I can’t seem to figure out is when I can consider myself as having “enough”. I’d like to be comfortable saying “I’m totally safe financially so I’d like to try completely new and different things now. ” + +I know it’s a hard question because everyone’s spending habits differ and change, some people change jobs rather than stop working etc... My goal is really just to maintain a middle class American lifestyle for the rest of my life without having to work too hard for it anymore. + +I’d like to build a nice house on my land (~$500k) and then spend the rest of my life pursuing personal interests, traveling a few times each year and continuing to expand my education. I live with a partner who I want to be sure I can support also in the same way. We live pretty modestly now...we have a bit of a spending habit on tech and clothes but otherwise nothing crazy....we usually cook our own food, do our own chores, take public transport, fly economy unless it’s a long haul, etc... + +I imagine this is probably more of a conversation than looking for the perfect answer but I’m happy to answer follow up questions. Would really appreciate any thoughts or advice!! Thanks! +I unfortunately had a close relative pass away, but they were looking out for me and left me $10K. I am curious on the best way to invest this money. I am worried about inflation eating away at it if I keep it in a HYSA, and worried about losing it in a market crash. Is there a good in-between option? + +I am thinking of using the funds for a down payment on an investment property within a few years. Appreciate any perspective! + +Edit: thanks for the advice. For context, I'm 27 with around $24K federal student loan debt, $13K personal student loan debt through my parents. No CC debt. Currently making $85K and contributing to a 401K, HSA and Roth IRA but not maxing. +I've faced enough emergencies in life that I am a big believer in the emergency fund of 3-6 months expenses minimum. There are so many schools of thought on where to put this money. + +Where do you keep yours? I am using a high yield savings account and a short term CD that gets a little bit more interest than the savings account. Also thinking about I bonds but that would be more of an intermediate term investment since you can't take the money out without losing 3 months of interest in the near term. Would use a cash management account at a brokerage for convenience, but they pay nothing in interest. The pain of inflation is real, but access is so important. +Been saving up for a while and have 30k in cash and not sure to do with it. Markets bad, Crypto too risky and real estate is too expensive. Currently own a home in Charlotte that I’m renting out bought for 260k in 2015 and now Zillow is “saying” I can sell for 510k, there is currently 190k on the mortgage. I live and work inNYC area and live in a rent stabilized apartment with my husband and 3 kids. What’s a smart investment I can make wi the my cash, and when’s the right time to sell the home +Backstory: My fiancé and I are 30 years old. We e been engaged for 4 years and are marrying next month! He had a really good sales year this year so between the both of us, we will have about $200k saved this year outside of our retirement accounts and emergency fund. + +I’d like to know what others would do if you all of a sudden had $200k to invest? How can we make this money work for us? We have been looking into buying a rental property but I’d love all your ideas. +We’re late to this financial planning thing and so we don’t have any college fund/account for our kids (10, 9 & 5) yet! + +Just realized that the first 2 will be college bound in less than 10 years! My anxiety has gotten a hold and is escalating..help! + +We plan to open a separate brokerage [Fidelity] account for them for a more aggressive return, however, my mind keeps coming back to starting a 529 instead. + +Can you advise on the better approach? I’m 99% sure that kids will go to college. + +Edit: Thanks all. Really appreciate all the tips and additional insights! I’m a lot calmer today 🤗 +\[UPDATE\] - I documented my experience on registering with SEC - [https://www.reddit.com/r/Daytrading/comments/q67215/sec\_form\_13h\_large\_trader\_my\_experience/](https://www.reddit.com/r/Daytrading/comments/q67215/sec_form_13h_large_trader_my_experience/) + +&#x200B; + +&#x200B; + +Individual trader here trading my own money. I scalp quite a lot and few days ago, i scalped a lot more than i usually do. Got a notice from my broker asking to fill SEC Form 13H because i am being flagged as a large trader. This is not the result of a single trade but a result of hundreds of trades with a total aggregated $ value of over $20M that one day. + +I've reached out to my broker (IBKR) and they have no clue. They escalated internally and someone will get back to me. I also called SEC and got bounced around a few departments. Will have to call them tomorrow morning and get answers. Also reached out to a CPA, waiting for feedback. + +&#x200B; + +I don't ever trade at such levels. I was on an overdrive that day and wasn't thinking at all + +&#x200B; + +* Has anyone received this notice? +* If yes, did you have to hire an attorney or a CPA to fill it? Or was it easy to fill on your own? +* What are the implications once you are flagged as a large trader? + +&#x200B; + +I know the standard answer i would get is to talk to an attorney or CPA but any advise based on your personal experience is very much appreciated + +&#x200B; + +Below is the email i received: + +*Dear Client,* + +*The SEC requires brokerage firms, including Interactive Brokers, to monitor client trading activities and identify potential Large Traders. A Large Trader is any U.S. or non-U.S. person or entity that trades or controls trading (in one or more accounts) in U.S. exchange-listed stock and option transactions equaling or exceeding:* + +&#x200B; + +* *Two million shares or $20 million during any calendar day; or* +* *20 million shares or $200 million during any calendar month.* + +&#x200B; + +*Note that for purposes of determining the value of shares traded, each option contract is assumed to be equal to 100 shares of its underlying security (or other share equivalent if adjusted by OCC).* + +*Based upon this requirement we have determined that the trading in account U\*\*\*\* for the period of 20-SEP-2021, in aggregate with that of any other related accounts under your control, may qualify you as a “Large Trader” and you may have to file a Form 13H with the SEC in order to obtain a Large Trader ID ("ID").* + +*Once Form 13H is filed and an ID obtained, you are required to report the ID it to Interactive Brokers. You may submit your ID by logging in to Account Management from the IBKR website and selecting Settings> Account Settings and then Large Trader ID menu options. From there, you will be directed to the Large Trader Identification page through which you can enter your ID by selecting the "Add Large Trader ID" button located therein.* + +*For additional information regarding this SEC Rule, please refer to Knowledge Base article* [*KB1842*](https://ibkb.interactivebrokers.com/article/1842) + +&#x200B; + +&#x200B; +I often hear people talk about watching when a stock is approaching it's EMA/SMA/VWAP and going long/short depending on if the stock bounces off the MA or breaks through, or at least being careful to go long or short when a stock is near the VWAP or a MA. + +I understand the value of watching for the movements of stocks near past points of support/resistance and trend lines, but why do moving averages and trend lines have any predictive value as opposed to just being another tool to visualize past movements? Why exactly can we draw meaning from a stock breaking through a MA, and is there any evidence that bounces off of a MA are likely and more than just a coincidence? + +I'm asking because I know a lot of traders - even those who prefer to use price action and volume as opposed to any indicators - keep the moving averages up on their screen. +I'm 28 and have always rented, and am likely to continue renting for the foreseeable future. I live in Manchester atm, but I'm moving abroad for a job in September, which I intend to be a short term thing for 2-3 years, after which I'll probably move back to the UK to London as it will be good for my career. After doing that for a few years though I'll probably want to move back to Manchester or somewhere else in the UK with a lower cost of living. Oh and I would like to fit in 6-12 months of travelling in there somewhere as well. So basically no chance of me buying for likely the next 10 years. + +Which is fine, I've made the conscious choice to move often and I value that more than being a property owner. However, I do sometimes look at my peer group who are all already own or are getting on the ladder and feel a lot poorer than they are despite us having similar incomes. They will be building a lot of equity over the next 10 years while I will be at best putting what's left over after rent into savings accounts with miserly interest rates. I just worry in 10 years time I will have nothing to show for nearly two decades in the workforce. + +So basically it would be good to know if anyone could recommend any alternatives- are there any other kind of investment vehicles I should be looking at? That would be worthwhile over a roughly 10 year timescale? I don't want the money locked away but neither do I want it too easily accessible. Any advice? +My boyfriend spends way to much time watching green/red dildos go up and down for pleasure, yet he insists this is a long term investment that he will make profit from +If that’s the case why can’t he leave it alone for time to relax and spend time with me rather then acting like he’s gambling everything on the line. + If he’s really getting fucked by his investment then leave it alone and turn your phone off? +Till then ima f myself with my black dildo +Subject: S/X Holiday Shutdown + +Hi Team, + +The SX lines will be shut down for the holidays starting Dec. 24th and returning Jan. 11th. + +We would like you to take the opportunity to refresh or spend time with your family, so Tesla will be giving you a full week pay for the week of Jan. 4th. There will also be limited paid opportunities for you to support other shops or volunteer for deliveries during some of this time. + +Dec. 23rd - last day of work before shutdown + +Dec. 24th-25th - Paid holidays* + +Dec. 28th-30th - Unpaid time off (may use PTO**), support deliveries or other shops. + +Dec. 31st-Jan. 1st - Paid Holiday* + +Jan. 4th - 8th - Paid time off (40 hours) + +Jan. 11th - return to work + +If you would like to volunteer for deliveries for Dec. 26th -- Dec. 31st, or support other shops from Dec. 28th - Dec. 30th, please use the survey below to let us know your preference. We will do our best to accommodate your requests, but preferences are not guaranteed and will be granted on a first come first serve basis. +Skipton Building Society have an online easy access saver with an interest of 1.2% (0.5% bonus for 12 months). Just in case it was useful for anyone. Probably the highest you can get at the moment. [Found here](https://www.skipton.co.uk/savings/easy-access/online-bonus-saver) +Hopefully it helps someone. +35M DI2K $8M liquid net worth including ~$2M in a Roth. Homeowners with no mortgage, but probably would upgrade in 5ish years. We both work still but I shifted down a gear to a new role. $250K total comp for both of us. + +At what point does it make sense to stop contributing to 401K’s? We don’t have an RE number yet, and mostly spend what we make at this point. Hoping to hit our number before 40. Doesn’t feel like saving aggressively makes a big difference when compared to investment gains +Congratulations to fellow ONE hodlers for staying strong all this time! This coin has been going on a rampage recently. It has a upcoming beta mainnet deployment (Trustless Ethereum Bridge), Cross Chain NFT, Decentralized Nodes and Bitcoin bridge all in this month! There is a lot of stuff coming up this year alone, so i'm glad people are starting to realize its true potential. + +If you own this coin, hopefully you've been staking it and reaping the rewards. Either in the app or some exchanges who gives high APY. Binance for example gave 20.51% APY for 90 days locked but it's sold out. Let's see what else the future brings us ONE holders! + +EDIT: Another ATH at **$0.3198** + +EDIT 2: It just keeps going - New ATH: **$0.3345** +It’s leftover from my college fund because halfway through I transferred to a college where the tuition was less expensive. She said I can use it for a down payment on a car, savings, school, whatever. + +I recently started school again after graduating 3 years ago to pursue a different career path and she said I can use it for my tuition if I want, but I work full time and I’ve been paying for 2~ classes per semester myself rather than taking out more loans or using this money. I think I like the idea of just paying for it in full myself and having the extra savings tucked away. I only make about $2,200/month but I have virtually no expenses since I still live with my parents. + +I have an account with Betterment that has $1,500 in it, investing in index funds. Maybe it could go there? I only contribute $100/month to this account since my tuition expenses are pretty high. + +I also still owe $9,000 on my student loans from my first go at college. + +What should I use the $4k for? TIA. + +Edit to answer these questions: + +-one loan is about $6,000 at 3.15%, the other is about $3,000 at 6.55% + + +-I have a Roth IRA with $3,500 in it + + +I’ve had 2 shares sitting with my broker that I kept telling myself I would sell during MOASS, and the others that I DRS’d would remain that way as part of the infinity pool. + +Now, I’m debating DRSing the full 100% because clearly, that’s what needs to happen to set off MOASS. + +Has anyone else had a similar experience or come to the same realization I have? +As the title says, I've found a vulnerability in https://blockchain.info/ - and they're ignoring my contact attempts. I know the author reads this subreddit. + + +/u/zootreeves + +/u/blockchain + +/u/Mandrik0 + +Shame on you for not having a dedicated security contact when you're storing tens of thousands of users money. + +ED: I have some tentative contact with an assurance that my request has been received , but have not had a chance to actually report the bug or have it fixed yet. Thanks to reddit for getting me this far. That said, this shouldn't have been necessary if they'd had a decent security contact page like the one Coinbase offers. + +https://coinbase.com/whitehat + +ED2: I've now made contact with "roger" of blockchain.info sharing details, awaiting a response. + +ED3: Alright, as requested, here's the details. + +Essentially in a number of views blockchain.info shows the "decoded" view of a hex string, be that in the TX body itself or the coinbase of a block. In this case neither one was escaped or otherwise filtered, which leads to XSS on the root domain of blockchain.info, also where the web wallet service is run. + +Earlier in the year I attempted to notify them of this in the transaction view, but ultimately gmaxwell got there first. I only realised that they never applied the same patch for the coinbase view just recently when looking at the source of a generation TX page. + +There's a clean example of the TX view XSS here, though this is the one independantly reported by gmaxwell. + +https://blockchain.info/tx/59bd7b2cff5da929581fc9fef31a2fba14508f1477e366befb1eb42a8810a000?show_adv=true + +XSS on blockchain.info is particularly dangerous as, known to the user or not, the encrypted wallet is stored in localstorage on the users machine. Has this been exploited, it would enable a wallet to be completely stolen with no interaction. + +Ultimately I'm not comfortable how this one turned out, it's a very tricky to use bug, but still completely possible if you have the hashpower or bribe a pool into doing what you wish. I would have prefered this to be a quick disclose-and-close sort of deal, but with a bit of publicity though this one is patched, so all's well that ends well. + +ED3: I've since reported a second major XSS issue, which seems to have been patched by the team. I'll wait for their reponse on that one though before making any details public. + +ED4: I have recieved confirmation of patches for both vulnerabilities, and an assurance from Nic of blockchain.info that they will endevour to make their security contacts more avaliable in the future, directly as a result of this post. I was paid a combined bounty for both bugs. Thanks, Reddit. +SBF donated $2M to the GMI PAC as well as $23M to the Protect Our Future PAC. All 19 of the congressional candidates backed by GMI PAC won their races last week, sending 16 new members to the House and Senate. 15 of the 19 backed by Protect Our Future went onto win. He also spent $6M on the House Majority PAC, though thankfully the majority of those candidates lost. Other FTX execs in Singh and Salame also made millions in donations to dozens of other candidates with varying degrees of success. + +At least eight politicians [have already attempted blocking](https://prospect.org/power/congressmembers-tried-to-stop-secs-inquiry-into-ftx/) prior FTX investigations. Five of them had clear donation-ties to SBF and FTX amounting to millions in total. Gary Gensler, SEC head, has also been linked to SBF himself having a meeting with SBF in March and further correspondence later. Gensler also has ties to Alameda CEO Caroline's father, with whom he worked with at MIT. SBF also had a lot of meetings with the CFTC as well. A former CFTC commissioner Mark Wetjen even joined FTX US as Head of Policy and Regulatory Strategy. + +The media seems to be defending with referring to FTX execs as 'kids', Alameda CEO as 'Queen Caroline' and 'math wiz and Harry Potter and risk lover' and SBF as a 'crypto mogul' and someone trying to prevent future pandemics with his donations. There was little to no mention of criminality or fraud meanwhile new FTX CEO, somehow who oversaw the collapse of Enron says "never have I seen such a failure of cooperate controls'. + +Meanwhile SBF is still walking free. As a matter of fact he is set to speak at New York Times Summit. This is among other speakers the likes of Ukraine President Zelensky, Mike Pence, Mark Zuckerberg, Treasury Secretary Janet Yellen, Former Israeli PM Netanyahu. + +What is really going on? When is justice coming? + +[https://www.washingtonpost.com/business/2022/11/28/sam-bankman-fried-ftx-cftc/](https://www.washingtonpost.com/business/2022/11/28/sam-bankman-fried-ftx-cftc/) + +[https://www.nytimes.com/2022/11/21/technology/gary-gensler-crypto-sec.html](https://www.nytimes.com/2022/11/21/technology/gary-gensler-crypto-sec.html) + +[https://www.forbes.com/sites/javierpaz/2022/05/28/ftx-billionaire-sam-bankman-fried-seeks-knighthood-at-the-cftcs-round-table/?sh=3f971a2f42c0](https://www.forbes.com/sites/javierpaz/2022/05/28/ftx-billionaire-sam-bankman-fried-seeks-knighthood-at-the-cftcs-round-table/?sh=3f971a2f42c0) +Hi guys, inflation is a fact (for me) due to a supply shock all over the world caused by many reasons (ocean freights, rising costs, lack of products) + +So 2022 as i see will be driven by inflation, rising rates from central banks (moderately) + +What are your favourite stocks to play in this scenario (if you share it), or what is your opinion for 2022 ? + +The intention is to think 🤔💭 “how to position now for the 2022 trends?” + +Thanks guys +TL;DR at bottom. + +In December, my mom booked 4 tickets from NYC to Honolulu for Saturday July 6th through Saturday July 13 from Hawaiian Air. The tickets were for my two brothers, her, and my father. The day before the trip my dad decided not to go due to work reasons. + +On July 6th my mom and brothers got to the airport and went to the checkin counter, my mom told them my dad wouldn't be flying. Hawaiian Airlines checked all their baggage, issued them tickets, and gave my mother a phone number to call to cancel my dad's ticket; they said they couldn't cancel it at the check-in desk. + +My family went through security and then my mom called to cancel my dad's ticket. The agent told her only my dads ticket was cancelled. When my family tried to board the airplane they told them that not just my father's ticket had been cancelled, but all tickets on the reservation had been accidently cancelled and resold by the call center agent. Their baggage was on the plane and was flown to Hawaii on their original flight. My mom requested their baggage be taken off the flight, but Hawaiian Air wouldn't take it off. + +Hawaiian Air booked my family on a Jet Blue flight that was supposed to arrive 7 or 8 hours later than their original flight; that flight was cancelled due to mechanical problems. Jet Blue put them on another flight that was supposed to arrive 13 hours later than planned, but it was cancelled due to weather. + +They slept in the airport; Hawaiian Airlines said they were not entitled to a hotel because they accepted the Jet Blue flight so it was Jet Blue's problem. Hawaiian Airline put them on a flight for July 7th and they arrived in Honolulu a full 24 hours late. + +Are we entitled to any compensation? (The hotel rooms we paid for maybe?) If so, what is the best way for me to go about getting it? Were any laws broken? + +**TL;DR Hawaiian Airline representative accidently cancelled and resold all 4 tickets on the reservation instead of just one ticket which resulted in a night sleeping on the airport floor and a day of vacation lost. They rebooked the flight for the next day but are we entitled to compensation?** +Thinking of how to escape in July. Hopefully vaccinated by then. I am thinking of chartering a boat from mainland Italy to Sardinia or Corsica. Budget is between € 50-100k per week. We will be 2 couples. Any suggestions on finding a good broker? What should we expect in terms of additional expenses (fuel, tips, etc) ? +I see a lot of posts where real estate is a big part of NW, but there are a lot of ways to invest in real estate. So I'm curious how others are investing. I have a few SFH rentals and also do some SFH owner-financing. I have only been doing this a few years now, but I am trying to develop long term revenue streams to supplement my market investments into retirement. + +So what is your particular flavor of RE investment? SFH rentals? Multi-family (individually owned, JV, syndication, etc.)? Private equity investments? +It occurs to me that I have no basis for comparison. I’ve used the same CPA for the last 6 tax years and chose his firm because a bunch of other people in similar situations chose him. + +He’s pretty expensive: probably ~12k annually including some split filing work and estimated payments. I’m mostly okay with this, if his advice and optimizations move the effective tax rate enough. That said, someone else could be better and/or less expensive (some friends use CPAs that provide similar services for around 2k annually). + +I’m considering engaging one of the 2k/year firms to also do my taxes/estimated payments so I can compare advice and optimizations. Has anyone tried this? Any pitfalls? Ideally I can just be transparent about this to each firm and they’ll know the other one is double checking their work. +What are the advantages of one over the other in terms of: + +\- tax savings + +\- overall return + +I can't contribute to roth ira due to income limit. Hesitant to put too much money in mega backdoor, since it is After-Tax and I could possibly use rental real estate for tax depreciation. + +For real estate, I can hire a property manager (so don't worry too much about it being an active investment). + +Thoughts? +I'm looking to become a snowbird and have a summer home in warmer climate. I've always wondered how people keep tabs on their summer home when they are away for months? Isn't it bad not to run the water, start your cars, etc etc at least periodically? + +I get you can have a security system for break ins but I'm nervous about upkeep being away for months at a time? + +Are there services that check in on your home? Ask neighbors to do it? +What are your investment risk attitudes and strategies in fatFIRE compared to traditional reduction of risk for FIRE? Less risky, similar, or more? + +25 years ago I would have been building in the lean profile - saving hard, keeping my spending in check. With perseverance and some luck, 10 years ago I was ramping nicely towards a FIRE retirement, was reading up on safe withdrawal rates, and thinking harder about reducing portfolio risk. I was keeping an eye on the horizon for the next big downturn that I wanted to prevent tanking my plans. + +I was lazy, didn't change much, and got incredibly lucky in choice of investments and the extended market upswing. 10 years of an average annual personal return rate of about \~25% was a heck of a drug. Now, I'm very comfortably retired in a HCOL area with about a 1.75% withdrawal rate, zero debt, doing the things we like, and still carrying a fair amount of exposure to a small number of strong single stocks that have done really well and have a good extended forecast. + +On the conservative side my old instincts are still telling me to diversify more, minimize the risk, and preserve the nice cushion - all the things I didn't do 10 years ago, lucky me! +On the flip side, my only real concession has been eliminating debt and pulling out enough cash we could ride out a downturn for 3-4 years without touching anything while waiting for a recovery. It'd have to be a significant and extended pullback to really start changing our plans. + +The middle ground feels like locking down enough assets in a "safer" plan for the normal retirement, and then staying more aggressive with the rest. I've shifted some into index funds from single stocks, but that's still a relatively aggressive stance compared to traditional retirement planning. + +I \*know\* my past rate of return is going to change, but it feels like I've got the cushion to go after the bigger wins that will enable some good things down the line. Of course, every gambling addict says the same, right? +I came across this article today + +https://www.abc.net.au/news/2022-03-14/chalumbin-wind-farm-fnq-protests-world-heritage-rainforest/100857160 + +It made me think that ethical investing may have some caveats as clearing forests to put up wind farms is not quite what I expected when it comes to clean wind energy. + +While this example is specific to wind energy, in the grand scheme of things gotchas like these are something to ponder for anyone who aims to invest ethically. +If I am able to pay for everything I need with debit, why should I ever have to use a credit card? + +I have seen side comments on this sub about people preferring credit to debit. Why is that? + +Apologies if it's a stupid question, but please ELI5 +I'm curious if anyone has heard about the pension crisis that is unfolding because of rising rates? The company that I work for doesn't offer pensions anymore (as most companies). However, they used to. I have many coworkers that have been there for a long time that have pensions. Several are in their mid 50's but planned to work for a few more years. They all learned within the last month that the value of their pension lump sum amount has declined by about 25% this past year because of the rising rates. And apparently it resets every year. So the boat that they have found themselves in, is they can retire by December of this year and lock in their lump sums before everything resets. If they wait, their lump sums drop significantly and could get a lot worse of rates keep going up. They have all met with financial advisors and found out that this is happening. And its happening to everyone that is in a private pension program and has a lump sum option. I found a few articles on line about this from CNBC and Forbes, so its definitely happening. This is a really under reported story in my opinion. Especially since we already have a labor shortage. I don't know how many people nation wide are in this camp, but it seems like we are about to have a ton of people drop out of the work force in a couple months. Has anyone heard about this and will this have enough impact to effect the markets, supply chains, etc? I admit, that I don't fully understand the mechanics of all this but I know its happening. + +&#x200B; + +Here's a couple articles I found on it. + +&#x200B; + +[https://www.seattletimes.com/business/boeing-aerospace/pension-deadline-could-speed-retirement-of-experienced-boeing-engineers/](https://www.seattletimes.com/business/boeing-aerospace/pension-deadline-could-speed-retirement-of-experienced-boeing-engineers/) + +[https://www.cnbc.com/2022/06/21/how-rising-interest-rates-affect-pension-lump-sum-or-annuity-decision.html](https://www.cnbc.com/2022/06/21/how-rising-interest-rates-affect-pension-lump-sum-or-annuity-decision.html) +Hi all, + +I've submitted a few FOIAs to multiple organizations to try and get to the bottom of the missing SR-DTC-2021-005 + +* Federal Financial Institutions Examination Council +* SEC + +I've filed an FBI tip regarding the disappearance of this regulation filing and have also submitted a FINRA tip on their tipline. + +I am unfortunately a Euro-Ape and have no other avenues to pursue this. If you're an American ape, i wish you'd do a few google searches about FOIA requests and the relevant tip-lines to try and put some pressure on this and perhaps get it resolved. + +Do not spam these services. Simply contact them if you have concerns regarding SR-DTC-2021-005 and ask why it disappeared, who made it disappear and when we'll see it re-filed again. Hopefully this make a few people ask the right questions. + +I'm not gonna make it easy for you to contact these authorities by giving you a link here. Just google it. If you can't be bothered to google it, then you can't be bothered to spend 1hr of your life enquiring about SR-DTC-2021-005 to the relevant authorities. + +&#x200B; + +**EDIT: This is the template i used. Don't use the same one. Emails sent with the same content are automatically grouped as 1 email. Make sure your email is unique.** + +\-SEC REGULATION FILING called SR-DTC-2021-005 + +\-OMB Number: 3235-0045 + +\-Description: Modify the DTC Settlement Service Guide and the Form of DTC Pledgee’s Agreement + +\-Contact Information: John Petrofsky, Assistant General Counsel and Director, [JPetrofsky@dtcc.com](mailto:JPetrofsky@dtcc.com), (813) 470-2115 + +\-Signed by: Brandon Becker, Deputy General Counsel and Managing Director, 04/01/2021, [bbecker@dtcc.com](mailto:bbecker@dtcc.com) + +&#x200B; + +The regulation filing was posted and promptly removed a week later sometime during the period of February-May 2021 with the excuse that it had formatting errors (which it did not have) + +\-REQUESTED INFORMATION - Keywords + +SR-DTC-2021-005 + +DTC-2021-005 + +3235-0045 + +&#x200B; + +I am a retail investor coming from Reddit (Superstonk in specific) from a community of retail traders. The community consists of 300 000 retail traders who's interest is a single stock who's ticker is "GME" (GameStop). It's come to this and many other communities attention that along with the recent NSCC, FICC, OCC, DTC, SEC regulation filings in early 2021, that all regulations were filed and passed except SR-DTC-2021-005 which DISAPPEARED from the DTC/SEC websites but not before the said reddit communities managed to archive both the DTC/SEC websites and the documents themselves (Find it attached). + +This FOIA/request is to find out what happened to SR-DTC-2021-005, why it was removed, who removed it and an exact date that it will be re-filed. +Kind of a slow news cycle for GME, so thought this is a good time to put this together. It is not directly related to GME, but it IS directly related to why we have such a hill to climb getting justice. + +The story starts with the election of Barrack Obama as POTUS and his running mate, Joe B. relinquishing his Senate seat to become VP. Joe B’s remaining term was taken up by Joe’s Chief of Staff, Ted Kaufman. Who immediately stated he would not be seeking a further term. Ted selected Jeff Connaughton as his Chief of Staff. This video is a recap of what happened when Ted and Jeff tried confronting ‘the Blob’ and pushing through reform. + +Start at 4:30 min. You miss absolutely nothing skipping the intro. NB: it is 50 mins long! It is full of gems, but admit it is slow and hard work listening to the end. IMHO worth it. + +[https://www.youtube.com/watch?v=Fvcf0UD2dUE](https://www.youtube.com/watch?v=Fvcf0UD2dUE) + +Summary: The American political system is broken because election to Congress - and MUCH MORE important - re election, depends on raising enough money. This means legislators are constantly lobbying and they are dependent on the sources of the money: banks, the big corporations, the military industrial complex. Whilst this situation persists and gets worse, it really does not matter who might be POTUS. You might as well put a demented old man there… + +The corruption of Congress and law making has led to erosion and paralysis of the enforcement agencies. + +Have you asked yourself why, after major films like the Big Short, Inside Job, many relevant non MSM articles or studies, NOTHING CHANGES? Jeff explains why. + +There is some hope: Jeff is a strong supporter of what is termed the New Brandeis Movement. + +[https://en.wikipedia.org/wiki/New\_Brandeis\_movement](https://en.wikipedia.org/wiki/New_Brandeis_movement) + +Notably, Lina Khan is mentioned, and she is now Chair of the FTC. There she is spitting fire: + +[https://twitter.com/linakhanftc/status/1461482950931980291?s=21](https://twitter.com/linakhanftc/status/1461482950931980291?s=21) + +Here is another interpretation of what the New Brandeis Movement is: + +[https://academic.oup.com/jeclap/article/9/3/131/4915966](https://academic.oup.com/jeclap/article/9/3/131/4915966) + +Essentially, the buzz words are ‘anti trust’ and disrupting ‘monopolies’. + +Jeff goes into some discussion on Dodd Frank, but does not go into what Ted and Jeff tried to do about abusive naked short selling: they tried to force the DTCC to establish a ‘hard locate’ for share borrowing to short a Stock. That would have stopped abusive naked short selling in it’s tracks. The DTCC was allowed to ‘get away’ with doing nothing. + +[https://prospect.org/power/gamestop-mess-exposes-the-naked-short-selling-scam/](https://prospect.org/power/gamestop-mess-exposes-the-naked-short-selling-scam/) + +In the question & answer session, the names Robert Rubin and Larry Summers come up again. Yuck! + +Edit: I cannot recall seeing this. Credit to u/sososhibby + +[https://www.reddit.com/r/Superstonk/comments/o2fm52/theyve\_known\_all\_along\_the\_issues\_that\_exist\_dd/?utm\_source=share&utm\_medium=ios\_app&utm\_name=iossmf](https://www.reddit.com/r/Superstonk/comments/o2fm52/theyve_known_all_along_the_issues_that_exist_dd/?utm_source=share&utm_medium=ios_app&utm_name=iossmf) +https://fairbtc.finance + +I was a lucky mooner and got on this right away. I'm up 40% in just 3 hours. + +It has not even gone up a decimal point yet!!!!! The gains that await us are hugeeeeeeeeeeeeeeeeee. + +The journey here has just begun. + +The gains could be immense. The rewards, insane. The lambos, a reality. + +Join the Telegram - @Fairbtc + +Buy on pancake swap. + +View on bsc scan - https://bscscan.com/token/0x10e027343977e55bebeaa6fc65804021829d41d4#balances + +Were you late to safemoon? Did Safemars whiz on by as you sat back? Did HOGE meme on past you as you chased those stable coins? DO. NOT. LOOK. ELSEWHERE. + +1quadzillion coins +505trillion burned forever +Devs only have 2.5% tokens. Currently locked. +Liquidity locked for minimum 71 years. +7% tax. 5% in to liquidity. 2% shared among HODLERS. + +You want passage to the moon? You wanna eat pie with Elon Musk on Mars? You ain't gonna do it Hodling USDT. FairBTC is for those wanting the lambos and penthouse funds. + +DYOR. All links are above. If you get in, get in because you have checked your stuff. + +I am not affiliated. I am a mere hodler who got on all the poo coins before this one and wants other apes to benefit too. + +Not financial advise. Just a heads up. Stay real. Stay mooning. +The 2019 plans are now available to be previewed. If you might be using them, check it out! [https://www.healthcare.gov/see-plans/](https://www.healthcare.gov/see-plans/) + +&#x200B; + +Deductibles, coinsurance rates, and out of pocket maximums are very different in-network and out-of-network, so be sure to take those into account when choosing a plan! A personal example: + +&#x200B; + +I'm happy covering most of my health expenses, but I want health insurance to cover me if something major and unexpected happens. I live within a mile of 3 counties, and due to a recent dispute between providers and insurers, I have a challenge. Insurer "Nearby" has a network that only covers providers in the county next to me, where I spend a lot of time, but they cover nothing in my county. Insurer "Home" covers many providers in the county where I currently live, and where my PCP is, but nobody in the neighboring county, and it is $2.5k/yr more (regardless of subsidies). + +&#x200B; + +If I have a non-emergency, I can plan to get my healthcare wherever I have coverage. My concern is what happens if I have an emergency where I am rushed to the hospital. There is roughly a 40% chance I would end up at a hospital in the Nearby network, and a 50% chance it would happen in the Home network, and a 10% chance it would happen when travelling elsewhere. So whichever plan I choose, there is unfortunately a really good chance I'll end up at an out-of-network hospital if I have an emergency. For the plans from both insurers, deductibles increase to $35,000 for anything out of network. That's a huge increase! And, **there is no out-of-pocket max for either insurer for anything out of network!** Not only that, but for the Home insurer, they offer no coverage at all for a hospital stay not in their network, while the Nearby insurer at least covers 70% after the deductible. For that reason alone, I will likely be choosing the Nearby insurer. + +&#x200B; + +Also, Nearby insurer has 6 different plans available. The best coverage for out-of-pocket post-deductible was actually on one of their bronze plans (better than their silver and gold). The silver and gold paid much better in-network and for more minor healthcare needs, but for major issues, bronze actually paid out better! +"DAYUM GURL, y u gotta pay off dat loan so quickly. We only got $928.54 of interest out of you when it should have been $6555.14!" + + +I'm $100k+ in student loan debt. $48k in my name (I include my car loan in this since debt is debt), $84k in a ParentPlus loan I pay $210/mo to. + + +In March of 2014 I got a job in my field making $40,000/yr and decided in August that I was going to crack down on my student loan debt so I could achieve my dream of building/buying a house (also marriage, kids, and travel). + + +Since August, I have successfully paid off: + +1. $3,500 student loan @6% in October 2014 + +2. $9,000 car loan @4% in January 2015 + +3. $13,000 student loan @6% AS OF TODAY + + +ONE YEAR. IN ONE YEAR **I have paid off $25,500 of debt on a $40-$41k/yr salary for 11 out of the 12 months.** I also worked THREE other jobs in addition to my full-time job that pulled in about an extra $15k this year (overnight pet sitting, Etsy shop, freelance). I'm more than halfway to debt free (in my name). Keep in mind this is before taxes, health insurance, and 401(k) contribution so the total is probably $45k. + + +Aside from working my ass off at three other jobs and having no life, which allowed me to toss 100% of those incomes to my loans, I made some serious changes to my spending habits and cut down where I could. I live with my boyfriend, so we split all expenses 50/50. We rent a house from his grandparents (in MA) for $800/mo (GREAT price), so aside from my student loans my largest bill was my $400/mo rent. + + +In addition to that, here are a few significant things I did I thought were beneficial: + + +- Switched my phone bill to Ting. I was paying $70/mo with Verizon - since switching to Ting, my bill is now $25/mo ($28 after taxes). However, because of referrals (don't worry mods, no code here), I haven't paid a single bill since I switched. I recruited friends, family, coworkers, and Redditors and saved myself a year of a cell phone bill. I was able to apply that $50/mo savings to my loans. + +- I don't buy coffee in the morning (or ever), don't buy lunches, and don't ever go out to eat. I make my lunch at home and bring tea and snacks to store in my desk at work. + + +- Literally stopped buying myself video games, toys, anything. I would ask for these things as gifts during birthdays/holidays instead. The one thing I allowed myself to spend money on was new clothes because it's my weakness and fashion boosts my confidence, but it wasn't without budgeting for it and using the income from my pet sitting job to do so. + + +- Frequently called FiOS to make sure we were on the best promo and price for what we had. This paid off a couple of times. My boyfriend cannot live without football and refuses to watch the big name shows (GoT, TWD, etc) at a later time, so we have to have cable - and not just basic, but all the damn special channels. We also have to have 50/50mps internet because League of Legends (ಠ_ಠ). If I had it my way, I would have also cut down in these areas, but we pay $94/mo for it currently, which I can live with. + + +- We have two indoor cats that are on Advantage (flea protection, yes, even if they are indoors - I learned my lesson). A box of 4 costs like $58, which would cover our cats for two months. I took to Ebay and found the Advantage 4 pack for $28 instead (it's sealed, not a knock off). So now we pay $28 every two months instead of almost $60. This isn't significant savings, but every little bit helps. + +- I used the snowball method instead of avalanche. Because the debts were small, it allowed me to pay them off faster, which then allowed me to apply their minimum payments to my next loan. By the time I got to the $13k loan, I was putting $350/mo down on it instead of $110/mo. Now I'll be able to put $650/mo on the last loan and pay it off in one year with extra money from my other jobs (and new income). If I had started with the $20k loan, I would still be here...making the minimum payments on all my loans except whatever I could throw at the $20k loan. + + +The main contributor to such a fast pay-off of those loans was absolutely working like a dog, but I still consider it a feat with many sacrifices made. There was no inheritance, no trust fund, no sudden windfall of money or a duel income of $1000,000+/yr, just hard fucking work. I wish I could say I had some big secret, but I don't. You just have to work at it. + + +I just started my new job on August 17th in the same field, web designer, making $78,000/yr. I can do this. **I have one, $20,000 student loan left @6% that I will be able to completely wreck within the next year.** + + +For those who will probably wonder: I do have a (smallish) emergency fund and I have been contributing to a 401(k) this entire time. I wasn't maxing it out, since my debt was my priority, but with my new job maxing it won't be an issue. + + +I wish I could say I was debt free, but I was too excited not to share my halfway point/one year mark so I hope you guys don't mind. I have this sub to thank for almost all of this, as I started coming here right when I started to tackle my loans. I've learned so much. + + +THREE DOWN, ONE TO GO! + + +Edit: For those questioning the $84k loan. This is a ParentPlus loan that is no obligation to me, nor is it in my name or considered as part of my debt (if we're being technical; I still include it in my total education cost). It's optional for me to pay, but I do because I want to help my parents. + + +For those questioning my "deal" on rent: the house can only rent for $1100/mo, so it's really not that much more below. The town it's located in is one of the worst in the state, plus an hour outside of the city. + + +You can't expect people to not live with someone and only pay astronomical rent in order to be deserving of a "good job, you did well." THAT is unrealistic, and not fair to those who are trying had to pay off their debts. +🦍 **Ape bought $10M worth of GME near the peak of its Reddit-hype, the position is now worth $2M** + +**🦍 Ape also bought $1M in AMC and $1M in Silver** + +&#x200B; + +***Article (trimmed):*** + +Sun, the 30 year-old entrepreneur who bought $10 million worth of GameStop Corp. at the height of its Reddit-fueled rally, is predicting a paradigm shift in investing as younger people swarm into financial assets. + +Sun said he’s prepared to hold onto his GameStop shares that he purchased near the highs late last month 💎🖐 in an effort to tap into the adrenaline-charged rush that lured retail investors into so-called meme stocks. He also bought $1 million in AMC Entertainment Holdings Inc. and a further $1 million in silver. The GameStop position is now worth just $2 million, Sun said. + +“I think I’m going to hold. Even if I lose money on the GME stock, I still believe this is a paradigm shift,” Sun said in an interview with Bloomberg Television. “In the past we all followed the advice from the financial analysts, and these days people are going to make their own decisions.” + +&#x200B; + +TL;DR: Buy high never sell 💎🖐🦍 + +&#x200B; + +Press F in the comments for our fellow ape brother + +&#x200B; + +Link to article: + +[https://laptrinhx.com/justin-sun-still-holds-gme-as-a-symbolic-gesture-despite-losing-8-million-831365042/](https://laptrinhx.com/justin-sun-still-holds-gme-as-a-symbolic-gesture-despite-losing-8-million-831365042/) +So I got a letter from my landlord that the rent increases again. When I first moved it it was like $1500. During COVID it increased to $2000. Now they bumping it to $2400. Last time this happens they basically said well it's lower than new residents and everywhere else. + +This time I decided to not renew. I went from making 10% contribution on my retirement to not saving at all. Now they want me living pay check to pay check. My whole take home will soon be housing costs. Funny thing is that I always see moving trucks leaving and not coming in. They have a huge mail theft issue and cameras not fixing it at all. + + I'm lucky I work from home so can move anywhere but most likely will be homeless if I can't find a place. I originally planned on looking and notified my job weeks ago but still. I live in a HCOL but wages are low. My job pays by location and we are the lowest paying region. I live in the South. They use BLS. At least I can can move but my income is above the median and I can't afford the rent. Who they leasing to the ultra rich if not the locals. + +I decide to check the vacancy rate as I was typing this. I think they have about 7-10% estimated vacancy rate. It does align with the vacancy rate in my state of 7%. Most of it being the 3 bedrooms as they are not selling I guess they are going for about twice as much as what I was offered. Ex. About 30-40 units available and about 400 units in total. Last time I was offered this I noticed people moving before my lease was over. So we will see if it increase. Maybe they might offer me a lower rate but I've been told I can't negotiate since they are a national company and discrimination, etc. +Thanks to u/Freadom6 and [u/throwawaylurker012](https://www.reddit.com/user/throwawaylurker012/) for bringing to my attention [SR-OCC-2022-802 34-95326](https://www.sec.gov/rules/sro/occ-an/2022/34-95326.pdf) titled "Notice of Filing of Advance Notice Related to a Master Repurchase Agreement as Part of The Options Clearing Corporation’s **Overall Liquidity Plan**". + +This is sort of a sequel to [OCC Filing of Advance Notice Expanding Non-Bank Liquidity Facility Program \[to destroy pensions\]](https://www.reddit.com/r/Superstonk/comments/w7zy4c/occ_filing_of_advance_notice_expanding_nonbank/) which is worthwhile reading and *very* infuriating. I'm going to assume you haven't read it yet so this is a complete post on its own. + +# For Liquidity! + +The title of the filing says it's about "...The Options Clearing Corporation’s **Overall Liquidity Plan**". [Liquidity means money](https://www.reddit.com/r/Superstonk/comments/qr9ovd/lets_talk_liquidity_liquidity_crisis_wut_mean/), like cash. Right off the bat, we can tell this is going to be *juicy.* + +The Options Clearing Corporation (OCC) \[[Wikipedia](https://en.wikipedia.org/wiki/Options_Clearing_Corporation)\] is a clearing house based in Chicago that operates under the SEC and the CFTC. The CFTC granted [relief on swaps reporting until Oct 2023](https://www.cftc.gov/PressRoom/PressReleases/8422-21) in response to "a joint request received from the Securities Industry and Financial Markets Association \[[Wikipedia](https://en.wikipedia.org/wiki/Securities_Industry_and_Financial_Markets_Association)\] and the International Swaps and Derivatives Association \[[Wikipedia](https://en.wikipedia.org/wiki/International_Swaps_and_Derivatives_Association)\] (ISDA) on behalf of their swap dealers (SD) members" which hides those swaps transactions. + +OCC is submitting this proposal to access cash fast because... well, read it for yourself: + +[Page 2: Description of the proposed change](https://preview.redd.it/93vfw0lj70e91.png?width=1720&format=png&auto=webp&s=56e2b2749e4668bf4eb35293a8dcc13e9b04f5ae) + +[Page 3: Description of the proposed change \(continued\)](https://preview.redd.it/hwsnkfak70e91.png?width=1720&format=png&auto=webp&s=4ab91f18f4f38a08073565974eb32f8686df9da2) + +This is similar language we saw in the [other filing I posted about](https://www.reddit.com/r/Superstonk/comments/w7zy4c/occ_filing_of_advance_notice_expanding_nonbank/). As the sole options clearing house, "\[i\]n the event of a Clearing Member default, OCC would be obligated to make payments, on time, related to that member's clear transactions. ... **OCC now believes that it should seek to expand its liquidity facility to increase OCC's access to cash to manage a member default.**" + +>Clearing Member broke. We need cash. Fast.- OCC (basically) + +And, in case the above text had too many words for the reader at the SEC, the OCC restates the *purpose* of this filing more clearly: + +[Page 3: Description of the proposed change \(restating the purpose more clearly\)](https://preview.redd.it/pgw42kbi80e91.png?width=1682&format=png&auto=webp&s=7ef7a95485b67a03338c7670b69eac461191545e) + +[Page 3 Footnote 5](https://preview.redd.it/97dp4pkn80e91.png?width=1692&format=png&auto=webp&s=5cb59254a45ad514ce72f7ea586ac086cfea7f75) + +So, how's the OCC going to get fast cash? + +https://preview.redd.it/jmhn48al90e91.jpg?width=301&format=pjpg&auto=webp&s=485214108773dc7e3f96dca3b0f2a7b37171e531 + +# Repurchase Agreements + +The OCC already *has* access to a lot of sources for cash so they want to add to these sources a **master repurchase agreement ("MRA")**. + +[Page 3: Background. Notice the Non-Bank Liquidity Facility Program from my previous post shows up here too.](https://preview.redd.it/ollatnv1a0e91.png?width=1652&format=png&auto=webp&s=9c9783f849b8cbb5de6ed7030bb13eed38184e2f) + +[Page 4: Background \(continued\)](https://preview.redd.it/4f3eiwe2a0e91.png?width=1720&format=png&auto=webp&s=11566ded3a0f1f26b79a3e3654ac8420f4e3cad5) + +Repurchase Agreements! We've seen those. They're pretty standard. Here's the OCC describing how a Standard Repurchase Agreement works: + +[Page 5: \\"Proposed\\" Standard Repurchase Agreement Terms](https://preview.redd.it/s0vgzyzha0e91.png?width=1720&format=png&auto=webp&s=ddcf851b11b2bf760cca9e407b080d12c0c9b6e6) + +[Page 6: Standard Repurchase Agreement Terms \(continued\)](https://preview.redd.it/22io9pkia0e91.png?width=1720&format=png&auto=webp&s=3cf4c61cae8a2c59292665fc4b9cd475e526b958) + +Basically, a **buyer** (e.g., a bank or pension fund per SR-OCC-2022-803) would buy US Government securities (e.g., Treasuries) from the OCC. The OCC transfers securities to the buyer for cash. And, the repurchase agreement has the buyer agreeing to transfer the securities back to OCC sometime in the future. + +***BUT*** the header for "The Proposed Program" here is a bit misleading. Because the OCC isn't actually planning on using Standard Repurchase Agreement Terms for their MRA. While "the MRA would be *based on the standard form of* ***m****aster* ***r****epurchase* ***a****greement"*, there are "certain additional provisions tailored to help ensure certainty of funding and operational effectiveness". (We won't get to see all those details of because they're hidden in a confidential exhibit.) + +[Page 5: Background](https://preview.redd.it/jbh2yaxkb0e91.png?width=1720&format=png&auto=webp&s=9d26b0d2207a1c55a74d5c2c741c17fcbde1361d) + +# Custom Terms & Conditions in the fine print + +[Page 8: Customized Features in the MRA](https://preview.redd.it/dlpxcv4ac0e91.png?width=1720&format=png&auto=webp&s=721fa8981e269746161a20e086905c20f2300c34) + +The OCC is in a bind. OCC needs cash. Fast. So, the OCC is customizing their MRA to make sure whoever they get on board will be *forced* to give them money (aka "certainty of funding") to keep the lights on at the OCC ("operational effectiveness"). + +OCC's *first* custom feature is to require the ***buyer*** (e.g., bank or pension fund) to enter transactions as long as neither are in default ***even if*** the OCC ~~"experiences a material change"~~ is screwed by a Clearing Member going broke. + +[Page 8: Gimme Money](https://preview.redd.it/a41a2j64d0e91.png?width=1676&format=png&auto=webp&s=7399a059c772081e5edc5446da6445af54f934a8) + +OCC's *second* custom feature is they need money fast. Really fast. "**Within 60 minutes!" "Even in the event of a default by a Clearing Member or a market disruption!"** + +[Page 8: Fast Money](https://preview.redd.it/w1gmyyf0e0e91.png?width=1720&format=png&auto=webp&s=473bfc2e0e1e91d1e348f45d1076c2c1b7f54d64) + +[Page 9: Fast Money \(continued\)](https://preview.redd.it/n9ay63a1e0e91.png?width=1720&format=png&auto=webp&s=2d1ab762e40e25f7486039ff06df02b96333bb04) + +OCC's *third* custom feature is the ***buyer*** can't rehypothecate the securities. ("No Rehypothecation" \[page 9\]) Interesting how retail assets can be rehypothecated, but not the OCC's assets. *Rules for thee and not for me.* + +OCC's *fourth* custom feature is Early Termination Rights "because OCC's liquidity needs may change unexpectedly". ("Early Termination Rights" \[pages 9-10\]) + +OCC's *fifth* custom feature is Substitution where they can switch out assets that the ***buyer*** bought at their discretion. ("Substitution" \[page 10\]) + +[Page 10: Bait & Switch ](https://preview.redd.it/djcussepf0e91.png?width=1720&format=png&auto=webp&s=671f6343c0bb0b549f120428d6d4d109cf99cea3) + +>Yeah, I know you bought Google stock. But here, take this Robinhood stock instead. It's just as good. Trust me bro! +> +>\- OCC (basically) + +OCC's *sixth* custom feature is the **OCC won't default**. *Seriously!* "OCC would require that the MRA not contain any additional events of default that would restrict OCC's access to funding. Most importantly, OCC would require that **it would not be an event of default if OCC suffers a 'material adverse change.**'" And, if there is a default, they agree to a '"mini close-out" provision rather than declaring an event of default.' *(Is this how Evergrande never defaults???)* + +[Page 10: It's just a flesh wound!](https://preview.redd.it/2ni5budlg0e91.png?width=1720&format=png&auto=webp&s=65ef4234b6c570893087e27db785f1f300497a48) + +[Page 11: 'Tis but a scratch!](https://preview.redd.it/2zmn3hzlg0e91.png?width=1720&format=png&auto=webp&s=34904b9d2d39872bb27bcce1c7b7d30df0ee80c5) + +This custom feature means that even if a ***buyer*** (e.g., bank or pension fund) fails to deliver purchased securities, OCC can "mitigate risk with respect to a particular transaction, without declaring an event of default with respect to all transactions under the MRA." + +[Page 11: Never Give Up. Never Surrender.](https://preview.redd.it/01ueb2zeh0e91.png?width=1720&format=png&auto=webp&s=3b62bdbff52e1c3ab3905a9de83c3e3d018ac0b8) + +*If a bank (e.g., Credit Suisse) is participating in an MRA with the OCC to buy securities and give cash to the OCC, then Fails To Deliver those securities back to the OCC because they're broke, we'll just agree this isn't an event of default.* + +Most loans have has cross-default provisions \[[Investopedia](https://www.investopedia.com/terms/c/crossdefault.asp)\] that state if someone defaults with one lender, they automatically are in default with all lenders. Most loans have this to *protect the lenders*. + +>Nobody defaults here. +> +>\-OCC (basically) + +# Comments? Don't tell me. + +*Seriously!* Unlike the [other filing](https://www.reddit.com/r/Superstonk/comments/w7zy4c/occ_filing_of_advance_notice_expanding_nonbank/) which has a section for Comments to be submitted to the SEC, this filing *explicitly* says upfront we don't want to hear comments! **"Written comments were not and are not intended to be solicited with respect to the advance notice and none have been received."** + +[Page 2: We're not listening! Blah Blah Blah Don't tell us anything! Blah Blah Blah](https://preview.redd.it/b7jk5tskj0e91.png?width=1720&format=png&auto=webp&s=7fb80859911231c0b3d2be9fb7f43a9630ddb7fe) + +**If you have something to say, send it to the SEC.** + +[Page 20: We hope you didn't read to the end. -OCC](https://preview.redd.it/p4niboyxj0e91.png?width=1720&format=png&auto=webp&s=7a1e1c0e19e010c559586ce1cc4bb65be5f4d0e5) + +Web: [http://www.sec.gov/rules/sro.shtml](http://www.sec.gov/rules/sro.shtml) + +Email: [rule-comments@sec.gov](mailto:rule-comments@sec.gov) (Include File Number **SR-OCC-2022-802** on the **subject** line) + +# PS. Sneaky! Sneaky! + +The previous post covered [OCC Filing of Advance Notice Expanding Non-Bank Liquidity Facility Program \[to destroy pensions\]](https://www.reddit.com/r/Superstonk/comments/w7zy4c/occ_filing_of_advance_notice_expanding_nonbank/) which used similar language about using a Master Repurchase Agreement with institutional investors (e.g., pension funds and insurance companies). SR-OCC-2022-**803** describes the MRA as "structured like a *typical repurchase agreement"* \[SR-OCC-2022-803 page 4\] which conveys the impression everything is standard terms and kosher. HOWEVER, this parallel SR-OCC-2022-**802** filing *customizes and* *significantly changes* the terms of the MRA to be anything but typical! + +Unless someone approving these **TWO SEPARATE FILINGS** read both and connected the two, they might never realize that **802** significantly changes the MRA terms while **803** applies the new MRA terms to banks, pension funds, and insurance companies. And, as we saw in Big Short, *nobody reads these things!* + +Credit to u/Freadom6, [u/throwawaylurker012](https://www.reddit.com/user/throwawaylurker012/), and all the apes raising awareness. + +EDIT: Typo +I’m sure everyone has noticed that in the last few days, crypto has really shot up. We saw something similar back at the end of January during the GME gamma squeeze. And now it’s happening again. + +Is this current pump on crypto somehow related to GME? Does anyone have any theories on this? It seems very convenient that this is all happening now. I believe there is a connection, I’m just not sure what it is, unless it’s purely a distraction tactic, or a means to get people to sell GME and put it into crypto. + +What’re your thoughts? +**Warning: This isn't very interesting and I don't really know why I wrote this, I guess I just wanted to get it off my chest.** + +My net worth went over 100k for the first time today. I'm 26 years old. + +I've been working full time at my company for over 3 years now and I started with almost nothing in savings but I graduated with no debt because I worked during university. + +My company is downsizing. Our competitors are destroying us and for the past 2 years we have been laying off employees and had our salaries and hiring frozen. I'm the only person left on my team after having two senior employees leave. So I've been doing the work of 2 senior employees plus my own at my entry level salary. My manager keeps saying that he will "fix" my salary when this is all over but nobody really knows when this will end. In short: this job sucks. + +I want to leave but my field is quite specialized and due to my incompetent management I feel like I don't have many employable skills (long story), and the job market isn't great where I am. I am very lucky to even have a job. Still, more and more I want to just quit my job and move some place else but my FI goals prevent me from doing that. Right now I have a steady income and I can keep my expenses low; I have stability at the expense of my sanity. + +So, I'll just suck it up and keep grinding. Thanks for reading. + +Edit: I'm putting this up here in the hopes that you will all read it. I just wanted to thank everyone for the responses. I'll admit that I've been discouraged lately dealing after one too many rejections but you've all inspired me to get back on the horse. +$SRNA (ancillary weed stonk, the last mention here was a month ago that I could find) + +Surna (SRNA) is one of the most underrated, undervalued, and under the radar cannabis stocks in history. Here’s why: + + +Surna designs, engineers, and sells climate control systems for cannabis grow facilities all over the world. This includes HVACD, Air handling/sanitation, biosecurity, and automation controls. Now, you’re probably thinking “why should I care about a company that makes equipment for growers? I just care about the actual growers that sell the cannabis.” That’s fair, but here is why you should care… + + +You’ve probably heard of CGC APH, ACB, TLRY, CRON, FIRE / SPRWF, etc., if you are an investor in the cannabis space. Now… What do these companies all have in common, besides the fact that they all grow weed? Let’s break it down: + + +These companies aim to grow the most weed for the least amount of money + + +These companies aim to grow the highest quality weed for the least amount of money + + +As more states in the US and more countries legalize cannabis, competition will increase, and prices will go down. This means the company that grows the best weed and has the best margins (lowest cost per gram) will survive and thrive. + + +These 3 points are exactly why you should care about Surna and why Surna is one of the most important company’s in this entire industry. You might be thinking “couldn’t any big HVAC company do what Surna is doing?” Maybe, but they are far behind Surna. + + +Would you rather hire a company to design and build your grow facility because they’re a big company, but haven’t done this before? Or would you hire a company that has designed and built hundred upon hundreds of cannabis grow facilities, because that is all they do? You would choose the second **option**, and that is why Surna is so important. + + +Now, let’s look a little deeper into Surna: + + +Surna has been in the business for over 14 years. The company was founded by Stephen and Brandy Keen, a husband and wife that had a passion for growing weed. Stephen designed a lot of his own equipment that was specific to cannabis. They grew the company into a million dollar revenue generating business, but when the company outgrew them, it was time for them to pass the torch. + + +Unable to control costs and turn a profit, and unable to handle the growth of the business, several management changes have led us to the NEW Surna, with Tony Mcdonald at the helm. + + +Tony is a Harvard and West Point graduate, with many years of experience in the HVAC sector. He built a company called Coolerado, which was acquired by Seeley International, one of the largest HVAC companies in the world. After Tony worked at Seeley, he returned to his roots. + + +Tony joined Surna as a director, and later became president and CEO. Tony rebuilt the company from the ground up and turned it into a lean, organized, and quality operation, with the vision of growing Surna like he did Coolerado, but with a twist – A technology and engineering company specializing in every facet of the cannabis grow facility. + + +Let’s look at the numbers: + + +Tony had taken control of Surna late 2018 into 2019. Here are the numbers for 2019: + + +Q1 Rev. - $1.7mil + + +Q2 Rev. - $4.2mil + + +Q3 Rev. - $5.5mil + + +Q4 Rev. - $3.3mil + + +Surna posted a profit in 2 of the 4 quarters in 2019. Considering Surna has never turned a profit until 2019, this is a big deal. Surna landed bigger and bigger contracts, and as more states legalize cannabis, and the regulatory landscape becomes more favorable to growers, this will allow growers to more quickly build and finance their operations, which will lead to Surna’s revenue growth and consistency. + + +Below are the numbers so far for 2020. We all know what happened in 2020. It was ugly for everyone. Surna’s 2020 numbers are no exception, but what we do see here is something very interesting: + + +Q1 Rev. - $1.8mil + + +Q2 Rev. - $1.7mil + + +Q3 Rev. - $1.6mil + + +Q4 Rev. – TBA + + +During 2020, because of the pandemic, a lot of growers delayed or straight up cancelled their builds, which means Surna lost contracts and revenue. Surna, for most of 2020, generated little backlog and even lost backlog. But here’s the thing – Even in this worst case scenario environment, Surna generated at least $1.5mil every single quarter, and INCREASED their cash position to over $2mil by Q3 2020 even when they were losing money per quarter and without ANY dilutive financing. This is evidence of disciplined cash management and sales execution, even in a terrible environment. Tony steered the ship through uncharted waters and came out stronger than ever. + + +Now, once the pandemic began to slowly subside, Surna showed its resilience – They signed a record breaking $2.8mil contract, and 6 months later, signed an even bigger $3.2mil contract. This doesn’t include the typical smaller contracts they land and don’t disclose. Now, think about what happens when you add in these small contracts to the whale contracts they just landed, which will only become more common as the cannabis landscape becomes more favorable. + + +So… Here we are. The beginning of 2021. Surna is about to announce their Q4 earnings, which will include their first $2.8mil contract. This means Q4 will be have at least $2.8mil in revenue. Now, if we assume Surna recognized another typical $1.5mil from their smaller contracts, then Q4 should be at least $4mil, which is pre-covid revenue. We also have the feds talking about full legalization, and as of this writing, New Jersey just officially legalized cannabis. + + +In 2019 Surna generated $15mil in revenue. As of today they have over $8mil in backlog, NOT including the recent $3.2mil contract they just landed. + + +As of today Surna’s stock price is $.1124. Their market cap is around $26mil. Surna typically trades around 1-2x their annual revenue, which is a lot smaller multiple than almost every other cannabis company, that trade between 5 – 25x their revenue. + + +Because Surna is not “sexy” and doesn’t grow cannabis, and doesn’t post a lot of PR’s, they are under the radar and unknown to investors. As Surna posts more contracts and revenue growth, they will be recognized and trade at the same multiples as everyone else. With Federal legalization looming and more states legalizing cannabis, Surna’s revenue streams will grow. + + +To take it a step further, legalization will mean the big boys will want a piece. These companies don’t start from scratch when entering a sector, they buy smaller companies to quickly gain market share. This makes Surna an acquisition target, or even a company that will acquire smaller companies. + + +My price target for Surna in 2021 is $1.00. + +I am not a financial advisor and I do own this stonk. +Firstly I want to thank everyone for their help and advice on my first post. + +Luckily I found an apartment privately managed by the owner, who was luckily clever enough to figure there was something wrong with a 12 year old renting his own place! + +I'll be contacting the credit companies as soon as my report comes in in 3 days. + +Now down to the whole fraud thing. +I went to the property that I was "evicted" from... Turns out it wasn't an apartment, it was a pretty moderately sized house. I thought the address sounded familiar when I first saw it in paper but I figured it was probably just because I used to pass it on my way to high school. + +It was my childhood best friends house. + +He moved here from central America when I was like in 5th grade soo around like 2006-7?? It was a pretty decent house considering his parents did absolutely nothing for a living. + +But God damn. How they got that information completely beats me. Regardless he left the country years ago and I haven't really heard from him since. + +But now that I think of it, he spoke 4 languages fluently at the age of like 10 his parents probably even more. + +That was their living. Heh. + +Anyways, thanks again PF + +Original post: http://www.reddit.com/r/personalfinance/comments/3bcee9/i_was_12_years_old_when_i_was_evicted_for_the/ + + + + +As the title states, not looking for attention or trying to give anyone a sob story. Being poor cost my girlfriend and I our cat. We could not afford a $300 transfusion and we couldn't take out a care credit card to pay for it either. We really couldn't even afford to have her put down but it's the only option we had money for. Now all we have is $50. We don't have enough to pay our bills or vehicle insurance. We wasn't in poverty when we decided to keep her but the economy and my health issues threw us right into it. We can't even afford to pay rent but somehow haven't been evicted yet. If my credit would have been better and I didn't have so many medical bills we could have atleast gotten enough to try and save her but unfortunately we weren't able to. My girlfriend only works part time so she has enough time to see her kid she has 50/50 custody of. I haven't been able to keep a job for a while now and my health both physically/mentally is keeping me from working as of now. It's really hard to know where to turn and where to go when you don't even have money to live let alone take care of yourself. +“Sales of new energy vehicles (NEVs) more than doubled to 144,000 units last month. The NEV segment includes all-electric, hybrid and hydrogen fuel-cell vehicles. NEV sales increased for a fourth straight month, accelerating from a 68% gain in September and 26% in August.” + +“China electric car sales hit 121,000 in October, up 137% vs. a year earlier.” + +Mentioned: TSLA, NIO, XPEV, LI, BYDDF + +[source](https://www.investors.com/news/electric-cars-china-sales-double-october-2020-tesla-trails/#) +So, I logged into TOS in the AH and saw a weird volume spike at the close price on Active Trader or the Book. OG we closed with 21k shares. Pretty normal on slower days. But this bar indicated @ 203.40 3,430,538 shares had been traded. Odd.... didn't see that shit at close or throughout the day. We do see the data coming in late at times be it Dark Pools or options chain executions. But this was way off the norm. And It is a quad witching week.... + +So I went through the whole book adding up the volumes per price point for the day. Tos tells me we had a Volume of 4,334,068.... + +I Found 16.8 million shares had went through the order book today. Just wondering if anyone else see's this. Cause I was a little blown away at first. 3X over reported. That Yahoo shit over the weekend and Bengazi this am with the same float total... the math is a little to close not to say something. Much smarter individuals in this community could find way more than my smooth brained monkey ass. +Basically my idiot alcoholic father got me to invest and now we don’t speak and of course I’ve lost most of my money. The person at Charles Schwab said it would be $5000 to take over my account with bots. That’s an extreme amount of money for me. Should I do this? What are the advantages and disadvantages? + +Thank you so much in advance for your help. +The DTCC waved margin requirements and faced no consequences. They did it once and they'll do it again on the next run. Will it go past previous highs? Maybe but that won't be the MOASS. They'll turn off the buy button. + +Here are the options that will be the start of MOASS: +I consider the start of MOASS to be 10,000. This price determination is pure speculation and should be treated as such. + +Option A (Main Way): +The most likely option. Total Recall. Gmerica uses the NFT marketplace to recall their shares from the DTCC. This forces the DTCC to scramble to find shares. The stock price will rocket. Bots will be at all time highs. Reddit will be down. MSM will admit the apes got it right and each boom in price will question or state the MOASS has occured. I can see this happening after the marketplace releases and the announcement a month afterwards. In other words, the end of August. + +Option B (The For Sure Way): +DRS. Another ape has tracked the rate of DRS increases. The whole float will be DRSd next year May 2023 based on previous data. I don't have it here link in comments would be appreciated. + +Option C (Oops MOASS my bad): +I'm fucking wrong. The marketplace and the companies associated with the launch cause the wombo combo with current DRS numbers. Setting the stock into the stratosphere (10,000) to start. Time limit on this will be end of July. If this occurs I'll dress up in an ape costume and deliver pizza to my local GameStop and film it. +Please use this thread to have discussions which you don't feel warrant a new post to the sub. While the Rules for posting questions on the basics of personal finance/investing topics are relaxed a little bit here, the rules against memes/spam/self-promotion/excessive rudeness/politics still apply! + +Have a look at the [FAQ](https://www.reddit.com/r/financialindependence/wiki/faq) for this subreddit before posting to see if your question is frequently asked. + +Since this post does tend to get busy, consider sorting the comments by "new" (instead of "best" or "top") to see the newest posts. +Edit: thank you for the overwhelming response! I have decided to get the car checked out and if nec., put some money into keeping it running for awhile. I appreciate all the advice! + + + +I have a 2012 Jeep Liberty that has over 190,000 miles on it and I don’t know how much longer its going to last. I start a new job next month where I will be driving 20 miles each way, 4-5 days/week. I currently still owe about $4,000 on it and it is probably worth less than $1,000. I also need to use it to drive my kids to school, sports practice, etc, which where the safety piece factors in. Any advice? +I was recently explaining bitcoin and blockchain to a kid - he’s a smart one and he asked me: + +1. Who is creating the mathematical tasks for the miner computers to solve? + +2. If they get more and more complex and difficult to solve, how are they being created in the first place? Are they already implemented in the code? + +3. If it’s possible to upgrade the bitcoin protocol to improve it, is it not also possible then to change the rules? For example to remove the limit that there will only be ever 21million mines bitcoins? + +I couldn’t answer these questions- anyone? +So as the title says my mom is batshit crazy, about 67, and living off social security and needs to be able to make like even an extra 40 a week. She literally is terrified of going out of her house, has mental problems but not enough to be on disability, she is a complete defeatist and thinks everything is overwhelming. That being said she knows how to use a computer well enough. + +Is there anything she can do?? +Where'd all this RKT BS come from suddenly? + +OH! That's right. More media manipulation and shills spreading the BS. + +For anyone that's new here, we've seen this tactic applied before as a diversion to pull people away from GME. Don't fall for it. RTK is struggling to rebound as I write this. There are headlines everywhere saying Reddit investors are short squeezing RKT. I don't recall seeing anyone really talking about it, and I come here a lot. + +&#x200B; + +This is not financial advice. Ape strong together. + +Edit: Maybe it is real. Good for you. Make some money and return focus on GME. + + +Edit: Thanks for the flashy badge things. Hopefully, everyone managed to get out of RKT with their shirt. +If you have anything to do with prices in your research process (outside of over/under valuations), then you are doing something wrong. Do your research and become familiar with it. Check for a product, team background, and distruptive use cases! The 97.5% will become noticed, don't get rekt!!! +Hey all, with multiple corporations announcing that America and likely most of the word is about to head into a recession/economic downturn in the not too distant future. What are your thoughts about what it will mean for the average joe, first home buyers and investors alike here In Australia? I am definitely not the brightest in terms of the economic space however have a great interest and would love to hear what people are thinking about what will happen and how that flow on affect will effect the different groups of people we have in this group. +Hi AusFinance,Like many of you here, I have some personal savings/investment goals for myself. It means I've had to make some personal sacrifices in order to keep to these plans (i.e. less dinners out, limiting impulse purchases - not giving up everything by any means). + +The issue is one of my friend circles loves a bit of the bougie lifestyle. Lots of long lunches, ticketed events etc. I do love that sort of thing occasionally, but dropping $500 in a weekend a few times a month is just not compatible with my goals. + +I've tried offering alternatives (walks or something a bit cheaper like coffees or ice-cream) but I end up feeling guilted into going or just not seeing these friends for a while. They're all lovely people I love hanging out with, but I just can't justify paying that much all the time - everything they do seems to . + +Part of the issue is I have a pretty comfortable wage so I "can" afford these types of events, but my future goals don't really fit this. I'm finding it hard to explain this. + +Is this just a natural development of friendships ebbing and flowing and life stages? Any advice from people who have been through something similar would be appreciated? How do you guys balance your social life and finance goals? +I've just been struggling to see how a system fuelled by fake wealth, consumption and artificial booms thanks to the intervention of the RBA can survive as the years go by. Excuse any ignorance or misguided statements as I am still a student, but from the amount of research of done over the past 2 weeks, everything points to an economic collapse. People are incentivised to consume and not save. Due to the Australian 'romanticism' of property, people believe it is the most stable investment one can make and fund it with the equity of their other properties, meanwhile real wage growth has just stagnated and when all the interest only loans roll over in 2019/2020 mortgage stress will force many of these people who are just getting by, to ultimately default on their homes, causing a financial contagion within Australia. False signals also indicate to the market that resources must be diverted to housing when it almost has no productive capacity for Australia and doesn't contribute to increasing aggregate supply, which is desperately needed as a result of this pumped up aggregate demand fuelled by ultimately unproductive debt. Won't it just reach a point where the RBA is stuck inbetween a rock and a hard place? They either let this credit bubble burst, forcing an economic reset after 26 years of uninterrupted growth or try and further suppress interest rates and artificially pump the economy to a point where inflation is unsustainable. + +I would love to hear some optimistic views on this because so far I haven't been able to find many at all, and I want to avoid getting trapped in my own head. Always good to take in other people's opinion. +Hey guys. I’d appreciate your advice on an issue I’m having. + +I broke my arm at home 6 weeks ago. I’m a tradesman so I haven’t been able to work. Luckily I’ve had savings and paid leave to use during this time. + +But I’ve been paying quite a high premium for income protection for three years now (won’t say who with yet) for 90% of my pretax income to be covered. I figured I may as well make a claim to use it and then leave my savings alone. + +I made the claim a month ago and the statements confirmed my level of benefit was 90%. Except the payment amount is much lower. It works out to be about 60%. I call them up and was told “oh it’s capped at $xx” despite any percentage. + +I’ve gone through the PDS twenty times and see no mention of this cap. The example they use in the PDS is pretty much exactly my situation and it explains the 90% calculation. + +Like I said I’m lucky to have savings and I’ll be back at work soon anyway but I’ve been paying for this for three years now and it’s not what I thought it would be. If I had a more serious accident and had to be off work for longer this would not suffice. + +I hope the wool hasn’t been pulled over my eyes somehow. I plan to take this further next week but I just wanted to chat to some others who may know more and see if I’ve been screwed here. + +Thanks! + + +Update - for anyone following along and/or going through something similar (hopefully not) + +I called the insurer again today and spoke to someone else. They were able to tell me that my employer put the cap on our paid benefits in December 2018, and that the union and employer agreed to this because too many benefits were being paid out. + +It goes without saying that I, nor the other guys, have known about this and our premiums have been charged the same. + +So it seems this is now an issue with us and our employer. The insurer says they weren’t liable to tell me because it’s a group cover and the employer should have. + +I’m considering getting legal advice about this. I feel like this is so wrong. If anyone has any advice for me with this coming to light please let me know. +Any wrinkly brains already on this? Possible connections with Credit Suisse? The one I found is with VFVA. However I did notice Citadel bought close to the bottom in May 2020 and UBS 03/20 and sold near top around 02/21. +Background: 35. Give 15% into 401k. No savings. Grew up poor and am bad/undisciplined with money (make it, spend it). I got a raise from 60k to 80k a year ago - thought I would be able to pay down debt, instead I've got in deeper. Realized the problem is not my earnings, its my habits. Would appreciate any feedback on where you would start. + +**Monthly After-tax income:** $4500 | **Jan Spending:** $5020 + +**Essentials** + +* Rent -1012 +* Insurance -132.77 +* Student Loan -165 +* Car Payment -314 (owe 6k) +* Debt Consolidation Service -559.35 (owe 12k) +* Utilities -395.45 (electric, water, trash, gas) +* Medical (Injury Rehab, required for some time) -340 +* CC Payments -313.77 (pay over the min, I owe 4k across 4 cards in addition to debt consolidation listed above) + +**Other Spending** + +* Gym -22.63 +* Charitable -45 +* Amazon Purchase (home goods tru prime) -117.34 +* Gas Station -85.55 +* Other Spending (Home Depot, Autozone, tax service, etc) -503.13 +* Grocery -592.35 +* Restaurants -161.16 +* Education -39 +* Apple Sub -152.76 (stupid/careless. I have cancelled all but $20 here already) +* Clothes -23.67 +* eBay -44.36 + +&#x200B; + +&#x200B; + +&#x200B; + + + +**Update from OP because this thread blew up!** + +Thank you everyone for your feedback! I've taken some of your advice and here's what I've done so far + +* Changed 401K contribution to 5%. This should free up at least $500 to pay off the CC debt with a month +* Refinanced my car from $314 a month (6%) to $160 (3%!). +* Switch insurance companies and knocked $20 off there +* Am going to try and cut my grocery spend at least by half for February and see if I can improve it even further from there +* Naturally I'm going to stop buying all the non-essential stuff listed outside of absolutely necessary things that come up. + +One of my credit cards, which was my first one ever, has a $250 limit. What I'm going to try and do and use that as my budget: I'm to make it my goal to spend under $200 a week on groceries, gas, and all other extra spending - pay the card off each Monday and start again. Keeping to that, I should be able to pay off over a thousand dollars a month in debt. + +Thanks again for your suggestions everyone! +Hey guys, I'm looking to get into day trading and am wondering what your experiences were when starting out. + +What did you learn when starting out? +What did you have in mind when starting out? +What did you wish you knew before starting? +What can you recommend to someone who's starting? +What should I look at before I place a trade? + +Thanks all! +We all know the rookie mistakes one makes in trading at the starting of the journey. However, Traders still make mistakes even when they have been trading for like years, they may not make rookie mistakes but still they do make mistakes here and there. So traders in this group who have years of experience in trading, Can you list out your mistakes that are different from rookie mistake. lets term it as "mistakes made by pro" +The corrupt elite that currently controls our financial world, and the world in general, cannot afford the peasants to get rich. If apes were to suck trillions of dollars out of their shitty scam of a system, it would not only be a wealth exchange of dimensions, it would be an exchange of control. + +The 0.01% literally can't afford to lose a MOASS amount of money to retail, because a great number of said retail investors would use that money to fight the elite and their agendas. + +An ape is nothing for them to worry about, but an ape armed with a bazooka, driving a gold plated Cadillac and with millions of dollars in his pocket to spend on taking the current, fraudulent system down is a completely different opponent. + +And there would be a lot of said apes, if MOASS happens and apes get paid. + +This is only my opinion and purely speculation, but I think there is a good chance, that these greasy fucks will burn the entire world to the ground before letting the average Joes become rich, enabling them to fight back. + +No matter what, their scam is coming to an end if our diamond hands hold true. Buy, hodl and DRS for a better and way less corrupt future. +From what I've been seeing, this actually looks like a war between billionaires. + +&#x200B; + +Tech companies (Apple, Tesla, GameStop, Google, etc) have been creating great value, and thus, their stock soars (or should be)... and that's OK. + +&#x200B; + +Financial companies see this, and decide they can take a slice of the cake by selling more shares (fake) than should be available, shorting, and in the process, keeping the value of those shares below what it should be... That is NOT OK. + +&#x200B; + +They become ever more greedy, they sell more shares they don't have, just take the money and forget about it, they do this unchecked, almost untouchable, without adding any value. + +&#x200B; + +Retail investors, and some institutions, never had any word on this, we/they just invest in companies that we/they believe in, usually for profit. + +&#x200B; + +Soooooo... + +&#x200B; + +Tech companies see their stock is not really behaving on the levels it should, and they are mad, their money is affected, and they've had enough of these financial companies taking an ever bigger slice of their cake without providing any value. + +&#x200B; + +Here comes RC, billionaire, activist investor, and daddy of apes, and he buys this company that has been shorted almost into oblivion but has a growing retail investor fandom coming from Reddit degenerates, and this very particular guy who found some Deep Fucking Value on it. Perfect opportunity to handle these financial companies their asses on a plate. + +&#x200B; + +The battle is raging. We see signs here and there of other companies subtly helping/joining. Some big names on supposedly small collaborations... but they're all joining, they're not drawing a line nor just watching from the sides. + +&#x200B; + +Other sectors, like entertainment, are noticing, they are also sublty joining. + +&#x200B; + +And with lots of proven DD, weaponized autists, tons of memes and jokes, and a very basic knowledge on how to use cutlery to eat, Retail has become a third force in the battle, joining the side of the companies creating value, in numbers greater than anyone expected. + +&#x200B; + +Retail is an unstoppable-well-informed angry mob joining an ongoing war between other 2 parties. + +&#x200B; + +The real winner will be the companies, but apes do get the spoils of war, will sack the fortress and the Citadel (oh yes) and leave nothing there. + +&#x200B; + +So I think this is really an ongoing war between companies and shitty financial institutions that are actually stealing from them. + +&#x200B; + +Retail is turning the scales. + +&#x200B; + +Which other companies you think are interested on ending those guys and the system they created to suck money out of real value creators? + +&#x200B; + +Or maybe I'm just imagining things and I should stop eating those psychedelics crayons. + +&#x200B; + +TLDRS: Read. DRS your shit. Not Financial Advise. +Read this article from The NY Times a few days ago and started to wonder about my strategy of keeping cash (50-150k) in a money market fund to move to the SP500 as dollar cost averaging and/or as 'dry powder' in case of larger swings. + +I had followed my CPAs advice a while back to use Money Market Funds in place of HYSA as the tax benefits are better for the former? + +Appreciate thoughts on those who keep some amount of cash in similar vehicles. + +[edit 5/1 3:47pm - this is not a timing the market post/question. Sorry as it appears to have come out that way. It’s a question of where you store cash that you intend to put in market but want to keep liquid so can pull out in case of unexpected expenses. Call it an emergency fund or whatever. I thought Money Market fund was the answer but the article seems to argue these aren’t as low risk as I thought] + +[https://www.nytimes.com/2021/04/23/business/economy/money-market-funds-reform.html](https://www.nytimes.com/2021/04/23/business/economy/money-market-funds-reform.html) +There is a lot of talk about this shorting situation and how retail investors can "name their price" since they are forced to buy the stock back. + +If it were that simple, wouldn't it be a no brainer for Berkshire Hatahway to just buy all of the stock of all of the companies that Melvin and others are heavily shorting? They could make a fortune from them. +I am viewing properties to buy as a residential home but ultimately as an investment for my retirement. I am in my late 20s and this will be my first time buying a home. + +I posted yesterday in this sub about taking into account future flooding. I wondered what other things I need to look out for that I haven't thought of. +I've been getting a lot worried and pessimistic comments on my posts lately but I have to believe that those are from very misinformed people or intentional trolls. + +To see miner support go to the bottom of https://coin.dance/blocks and note that over 99% of blocks are either signalling for segwit already or have indicated they are on board with SegWit2X, meaning they will shortly begin to signal for segwit and reject blocks that don't signal for segwit. So it doesn't look like there will be any chain split that lasts more than one block given that overwhelming support, and those are totally normal splits that get reorganized away all the time. + +At https://uasf.saltylemon.org you will see that UASF nodes are steadily on the increase. These nodes will not diverge from SegWit2X miners if those miners simply follow through on their statements. + +At https://bitnodes.21.co/dashboard/ you can see that well over 80% of nodes are running Bitcoin 0.13 or higher which means that they will also activate SegWit natively when the rest of the network activates it. + +And of course 100% of nodes are going to continue to function fine because SegWit does not break legacy clients. + +Oh, and also transactions are all clearing quickly at very reasonable fees. + +Network uptime remains at 100% with no interruptions. + +It's almost as if sensationalist reports and alarmism get a disproportionately high share of voice. +I drank the GME kool-aid and yolod 80K into GME at 350. Should I cut my losses now or is there actually some legit DD that I can use to sleep better at night that aren't diamond hands and rocket emojis. Thanks so much fam. + +Edit: Thanks so much guys for all your inputs. I didn't expect to get so many comments so quick. I'm going to try to get some rest tonight, and reply back tmr! The comment ticker is rising faster than GME haha... + +Edit 2: Thanks to everyone for their opinions and thoughts on my situation, and thanks for the rewards, I've never gotten them before! I'm going to talk to my family to see what is best for us too because everyone is really anxious over here. + +Edit 3: Thanks for all the comments and concerns. I'm still okay, and not standing on top of a roof yet. I'm still processing the situation with my fam to see the next steps as this is an expensive lesson. + +Edit 4: Okay, I've actually been crying my ass off as a grown man today for the first time in years, and happy to have my friend and family for support. It was a bit of a cathartic experience, I will hold for any bump and ill be exiting. Thanks for all the support guys, I really appreciate it. +I am feeling like a complete failure. After I left my ex due to domestic violence, I moved back in with my mom. Who then left her husband due to domestic violence as well. We’ve been renting a place together ever since. Well, during this pandemic my mom turned to drugs, went to rehab and now is back with her ex and I have to get out of the house by the end of this month. I can’t live with that man again. He’s caused so much pain throughout my childhood and put me at risk to losing my daughter. I work as much as I can without ever usually having a babysitter. I only make $2,000 a month. I have no credit. It’s impossible to find somewhere affordable/safe to rent. I’m upset. I’m frustrated. I have nowhere to turn to. No friends or family that can take me in. I’m so stressed my head feels like it’s going to explode. I just needed to get this off my chest and scream into the void! +I haven't experienced this myself, but people are talking about having ADA withdrawals blocked towards the end of the epoch. Binance is motivated to do this because a 'snapshot' of staking wallet balances is taken at the end of the epoch, and staking rewards are calculated based on that. This is highly unethical however , because it means Binance is staking other people's ADA, collecting those staking rewards, and making the ADA unavailable to the owners when it suits them. Supposedly the hold on withdrawals can be as long as a full day before the end of the epoch, but typically happens at least an hour before the end of the epoch. + + +I think this shows a very blatant disrespect for their users' crypto which they're supposedly holding in custody (I know, NYK NYC), and the greater crypto community should be aware of this +Seeing that a significant interest has developed around the fabled GME short squeeze, I have written this post and I hope this writing provides an overview of the situation. + +# The case for a squeeze: + +The entire argument for a short squeeze hinges on the possibility that either the management agrees with Ryan Cohen's [plan](https://archive.is/qUm5s) and addresses it or he decides to pursue a hostile takeover. + +**In this spirit, we urge you to quickly provide stockholders with a credible and publicly-available roadmap for cost containment, prioritizing profitable retail locations and geographic markets, and building the e-commerce ecosystem gamers deserve.** (from the letter) + +This is Ryan Cohen's plan in its most raw form. Or to put it more simply, he wants GameStop to become the ultimate destination for gamers by leveraging its 55 million PowerUp members, its brand power; reducing lossmaking operations in Europe and Australia and to make investments in a Chewy like website for gaming. + +Has management been doing anything? Yes. A lot. + +[It's hiring talents for building a successful online gaming store.](https://careers.gamestop.com/en-US/search?keywords=&location=Grapevine,Texas,USA&placeid=ChIJX6Af7HUqTIYRDS8xoHABMCw&facetcitystate=grapevine,tx) [Entered into a multi-year revenue-sharing agreement with Microsoft.](https://news.microsoft.com/2020/10/08/gamestop-announces-multiyear-strategic-partnership-with-microsoft/) + +It has also received a saving grace by the newest console cycle in which some people thought(like me) diskless gaming is going to be the leader. But the reality turned out to be [quite the opposite.](https://www.pcmag.com/news/report-only-25-percent-of-ps5-pre-order-stock-is-cheaper-digital-edition) + +Add to that, the Nintendo Switch sold like wildfire in the US and is going strong, you have a winning combination for GameStop which would likely result in good quarters for the coming quarters. + +Management has also started a rebranding effort with some changes being made to its logo, items that are kept in-store and online etc. + +It seems like management is likely to address Cohen's concern and the lifeline it has received or will be receiving from the newest console could be its saving grace. If it can turn around or the management gives guidance that it CAN turn around its business model a short squeeze is imminent. + +Why would it be inevitable? + +[Notice that short interest is almost 3 times higher than its float and more than outstanding shares,](https://imgur.com/a/O3uggvr) + +GME as a company is still relatively undervalued (assuming it doesn't go under). If the shorts realize that this company is not going to 0 as they have probably assumed, they will be forced to cover their shorts. + +The above-mentioned condition of short interest would guarantee that they have to cover. Also considering the average daily volume, this squeeze can last much longer(3-4 days may be) than the other historical squeezes like Volkswagen short squeeze [when it became the most valuable company in the world for a short while.](https://archive.is/0sDgO) + +But given that the scenario surrounding GME is unprecedented, there is no telling how it could end up other than to say that it will be MASSIVE. + +[Some shorts are already under water.](https://imgur.com/a/86cGFUl) Some of them are likely covering as noted by various Redditors and retail investors who are looking at the stock tick by tick. Also considering that short interest rose to a whopping 309.83% and is now down to 297.13% (as of this writing from Morningstar data), it's obvious that some of it were covered. + +The recent stock price appreciation could be a result of that plus the expectation of good quarterly earnings report. + +**Retail mania:** There is considerable retail interest in this stock. Considering that this stock is being heavily promoted in [r/wallstreetbets](https://www.reddit.com/r/wallstreetbets) and driven by that a lot of people are buying shares. According to a survey conducted there(not that reliable, but a good indicator of interest), that subreddit alone has enough ownership to get a board seat. + +Open Interest in call options is also [huge](https://imgur.com/a/UvxIGqt) considering that this is only a $1B market cap company. It's filled to the brim with OTM call options(from December 4 to April and further). And market makers and option sellers would have to hedge to serve this crowd, in turn increasing the stock price. + +This, in turn, could create a feedback loop where the shorts have to cover their positions, leading to a further increase in stock price, which would force market makers to purchase more shares which could increase stock price and on and on until it triggers a squeeze of epic proportion. + +**Likely improving financial health:** [GME announced voluntary redemption of senior notes.](https://www.globenewswire.com/news-release/2020/11/10/2124246/0/en/GameStop-Announces-Voluntary-Early-Redemption-of-Senior-Notes.html) Management has decided to redeem $125M of its senior notes. This is signalling that the company has managed to generate enough cash flow to cover its debt early. + +It could even help improve its credit rating which would help it attract institutional investors more and other perks that come with improved credit ratings. + +[Declining debt](https://imgur.com/a/G518yz8) is necessary as it would ultimately help deleverage the company and put it in a more sustainable footing which is ultimately what is needed for avoiding bankruptcy. + +**Technical analysis:** This is not my forte. I have bare-bones knowledge in TA and only use it for entry and exit purposes. + +But according to some retail investors in Reddit and tradingview GME has formed [a cup and handle bullish pattern](https://imgur.com/a/gj9pzZS). + +**Analyst Upgrades:** Analysts are upgrading GME stock. Well, that's good, I guess. + +# The Case For Bankruptcy + +The scenario in which a short squeeze doesn't occur is PROBABLY the scenario in which GME ultimately faces bankruptcy. + +As the thesis for short squeeze is laid out, the thesis for the short sellers is also crystal clear. + +After all, GME is STILL a large brick and mortar store that is trying to sell a product that could be very easily purchased using the power of the internet. + +The revenue of GameStop for the past few quarters is in [steep decline.](https://imgur.com/a/mTcwpIe) The company is overly leveraged and has many stores that are loss-making operations. + +Its online store has much lower visibility and investment and is lacking in many aspects(in my personal view). + +Its credit rating is not that good and Cohen himself somewhat criticised the management for trying to hang on to its old ways of doing things. + +Gaming and associated products are bound to [thrive and grow at a CAGR of 9% and had grown even more in the past.](https://www.reportlinker.com/p05903704/Gaming-Industry-Growth-Trends-and-Forecast.html) + +Yet GameStop FAILS to capitalize on this trend and is continuously losing market share while destroying its [financials.](https://www.morningstar.com/stocks/xnys/gme/financials) This is a clear sign that something is inherently broken within the company. + +While the management does seem to be trying to fix things, it could prove to be too little too late. + +To change its fortune it needs to turn around its business models like Best Buy or Walmart. Yet it seems pretty unfeasible judging by its financials. + +GameStop had adequate time to change with the times and become an early adopter but its backwards-looking culture and late entry made its journey full of competition. + +Short sellers believe that ultimately GameStop wouldn't be able to achieve a business turnaround and gain a critical mass of customers in its online space and management incompetency will ultimately lead to its bankruptcy. Thus its faith would be like the numerous mom and pop shops or the various retail giants that were. + +Even if GME share rises due to retail mania and market maker hedging; institutional investor ownership could [decline](https://imgur.com/a/04i3a0g), leaving retail investors as the ultimate bagholders. The shorts may bite their tongue and keep on paying interest as long as they believe no fundamental change in the business is going to happen. + +Which means they may not need to cover their position as long as the company becomes bankrupt, thus the fabled short squeeze may never materialize. + +After all, most shorts are probably institutional investors like Melvin Capital who can always maintain their margin requirements(if any) and like the retail investors they can also figure out what the retail investors are trying to do and thus avoid triggering any short squeeze. + +# Conclusion + +The next two or three quarters are pivotal for GME. + + If + "Management decides to address Cohen's concerns and manages to show their roadmap to success and improves its financials within the next two quarters = Short squeeze" + + Else If + "Cohen declares hostile takeover or something close to that line= Short squeeze" + + Else If + "Management addresses Cohen but fails to deliver within the next two quarters and has disappointing earnings=Unsure" #improbable cause next two quarters are expected to be good or at least the guidance which is more important + + Else If + "Management doesn't fully address Cohen's concern, Cohen also doesn't make any move yet the business improves still= Likely short squeeze" + + Else If + "Management fails to address Cohen's concern, Cohen disassociates himself, business fundamentals detoriorate= Retail bagholders" + + Else + "I don't know really, imagine your own scenario, you are not bound to my conclusions. In fact my conclusions could be entirely off the mark. We are trying to predict the future here. Hope you come to your own conclusions. :) + +# Disclaimer + +There are various nuances that I avoided writing(which are probably even more important to write) cause it might have taken too much of my time. Writing this post was a good exercise for me and I decided to ride on the GME train after doing so. Before you decide to do anything, you should do your research. This is not financial advice. + +# Further Reading + +[You better read this one even if you didn't read mine.](https://www.reddit.com/r/wallstreetbets/comments/k4csaa/the_real_greatest_short_burn_of_the_century_part/?utm_source=share&utm_medium=web2x&context=3) + +[Ownership survey.](https://www.reddit.com/r/wallstreetbets/comments/k6jjm3/wsb_owns_58_of_gme_gme_survey_update/?utm_source=share&utm_medium=web2x&context=3) + +[Hmm.](https://www.google.com/search?q=gme&sxsrf=ALeKk01Bbvfen8UMWKYUbEdCS16xVUFczQ:1607098346080&source=lnms&tbm=nws&sa=X&ved=2ahUKEwjIz6Xw27TtAhWVdn0KHT-dCKcQ_AUoA3oECAUQBQ&biw=1366&bih=625) + +Edit: grammar +I see a lot of complaints lately that this subreddit has become mostly a brag-fest of paid-off student loans and credit score screenshots. We're all sincerely very proud of these people. But there are a lot out there who are still in the depths of debt, homeless, carless, jobless, or otherwise struggling to just get by. Help is needed. Sometimes, a person just doesn't know where to start. I'd like to start a guide here about things a person can try, in order to escape the poverty cycle and make real, lasting change. I'm eager for input, and will edit the lists and ideas as they come in, and credit the poster. I'd like to put together a resource here for "okay, I'm sick of this and I'm ready to do something different." These are the somethings different. + +These are not meant to be ALL encompassing. Everyone has a different life and different needs. Just because YOU can't do a certain thing doesn't mean someone else can't. The idea doesn't have to suit everyone. If you are disabled or have a criminal record or something else that prevents you from taking certain opportunities, that doesn't mean the information isn't useful to someone else. Don't complain that they don't all work for you. Focus on any that do. + +**Don't**: + +* Don't join an MLM. You will lose money. YOU WILL LOSE MONEY. You will almost certainly never meet someone who was formerly in an MLM who can tell you they profited even a dollar from it. But EVERYONE still involved will try to convince you they are rolling in cash. They are incentivised to do so, so you'll sign up and they can try to make money off of you. NO MLMs! +* Don't waste time trying to fill out surveys or other "work from home" opportunities, unless you're doing it on top of a job. You can't make enough to escape poverty. Well, theoretically those jobs ARE out there, but they usually start out as an office job that gets relocated to a home office after years of working in the office and proving your responsibility and reliability. Look outside the home for work. +* Consider not having any (more) children until you escape poverty. I'm not saying poor people don't deserve to have children. What I'm saying is that if your goal is to escape poverty, it will be easier to do that without adding more mouths to feed. Escape first, then babies, if you want them. (Edit: It seems people think I'm demanding you don't have babies. I can't and wouldn't do that. I'm saying you need to pick a priority. Babies, or escaping poverty as quickly and easily as possible. They can be done together, just not as easily. If you are angry at this advice, then feel free to ignore it. No one can or will stop you. Do you.) +* Don't go after an opportunity with a low success rate. Anything talent-based, real estate agent, etc. If most people who try it don't succeed, don't assume you will. If you want to pursue a dream of being an actor, do something more reliable first, to get on your feet. It's much easier to give yourself the room to pursue a dream career from a position of financial strength. + +**Do**: + +* Do learn everything you can about budgeting. Find what works for you. Even if you have very little to budget now, you need to understand how to manage your money once you start making more, so that you don't let lifestyle creep keep you broke. It happens. To a lot of people. That's how a family of 4 can make $200k+ and be in constant debt. +* Invest in a skill. In order to be paid well, you have to provide value. Skilled work is valuable. There are so many options, some of which we will discuss, cost very little (if anything) to learn, and can pay really well. Don't think that just your willingness to work is enough. You have to provide value. +* Start reading and listening to Dave Ramsey if you don't know how to dig out of debt or manage your finances. Trying to learn about how to manage money can be a futile and frustrating thing to do online... information is so piecemeal and it's hard to nail down the basics. Dave Ramsey will teach you the basics. I'm not endorsing ALL of his ideas about money, but you will end up in a better place if you only follow his advice and never dig any deeper. Credit to u/SaltySolicitor + +Now, here come the ideas of specific paths to take out of poverty. If you are posting to add to this list, please feel free to elaborate on who can qualify, what it might cost, time it might take to learn, etc. + +**Careers**: + +* Truck Driving - If you have a clean(ish) driving record (DUI and reckless driving within the last 3-10 years can be a non-starter) you can qualify. Criminal records are acceptable on case by case basis. Perfect for anyone homeless, or soon to be homeless. You can live in the truck. Perfect for someone/couples with no children. Or children who can stay with someone else. Earning potential varies greatly, but not at all uncommon to earn $40k+ first year, and upwards of $80k is entirely possible after that with the proper endorsements, team drivers, and/or a willingness to dig in for good opportunities. Do not lease or buy a truck your first 3 years. Job is dangerous and can be lost with no continued opportunities at any moment if you get into an accident or lose your license. No insulin-dependent diabetics. Many companies willing to fund your CDL training, and pay you (poorly) during OTR training, so very little money needed up-front. Timeframe to gainful pay: 2-3 months usually. +* Coding - I've never been a coder, so I'm hoping to replace this blurb with a post from someone with more info. If you have internet access (which you do if you're reading this), it is entirely possible to teach yourself coding online for free. Many have done it. Takes months. Then you need to test with a company that hires new coders. You will be given an entry level position which I think commonly makes somewhere around $18-$20/hr or more. Increased experience and knowledge can and should lead to better pay and positions. I hear JavaScript and Python are solid for employment opportunities. (More excellent info by u/TexGentMJ in the comments if you want to search for it.) +* Building Trades - Skilled, licensed (or certified) trades are, in my opinion, the best to get into. You're not likely to make much in a trade that is not licensed and regulated. (Sheetrock or roofing, for example). You want to go for plumbing, electrical, HVAC, etc. Great for men (or VERY confident women... seriously, these can be rough for women, ask me how I know) who either have no family to support yet, or a partner who can help fund the household while apprenticing. In many areas and for many trades, you do NOT have to pay for any schooling. Apprenticeships are available and pay more than minimum wage. Apprenticeships usually take 4-5 years, depending on the state. Some are much less (HVAC in my state, for example, can be done in 6mos-1yr). Union training is the best, and takes the longest. Union vs. non-union both have their pros and cons. Do your research and decide for yourself. Competition is usually fierce for union opportunities. Job security and outlook is pretty great across the board. I don't know any starving plumbers. To find an apprenticeship, just google "plumbing" or "electricians" near you and start calling asking if they are hiring helpers. Ask them what you need to do. They'll tell you. +* Wait Tables - It won't make you rich, but it can pay the bills. Apply everywhere and take the first offer to train you. Learn the craft. Get as good at it as you can possibly be. After 6 months, if the tips aren't really cutting it, start looking for a better restaurant. You want to find a place with a high ticket average. Think steakhouses or sushi restaurants. Watch YouTube videos on advice for high-level service. The higher the average ticket, the higher your average tips. Keep working at getting better, present yourself in a conservative, classy manner, and you can find good opportunities. Great for almost anyone who can handle a certain level of stress that comes from dealing with people. Not necessarily great if you're an introvert or especially socially awkward. Your looks don't usually matter much. One of my favorite waiters at a very high end steakhouse in my city has neck tattoos and looks like he might just moonlight as a bouncer. But he's damn good at his job, carries himself well and speaks clearly and politely, and makes good money. +* Subbing for a school district in classified positions can be a something worth looking into. Yard duty, lunch server, janitor, ta are good and usually don't require any kind of training. It's inconsistent work but can definitely be a good 2nd job or possibly a foot in the door to getting a full time position. Pay is usually above minimum wage. Usually sub pools are open year round. I'm not sure if I'm allowed to list specific websites but if I am edjoin is the website to go to unless the district hasn't joined and then it would be the school district's website. Depending on where you live and your transportation situation there may be multiple school districts for you to apply to. Don't forget to check out charter schools. One of our local charters pays 2 dollars more an hour for some positions then the traditional school district. You will need a cell phone to take calls or texts. Some districts will have an auto dial system and you will get called by a machine, some still have a person that does the calls. If it is a person, be nice, brief, and reliable. If this person likes you you will get more calls. If school sites like you they can request you so will get more calls. Like any government job the hiring process is slow so don't put off applying. The work can be inconsistent. Last week I worked a 1.5 days this week I'm working 4 days, next week I'm working 3 but I may get more you never know. -u/mominthewild +* Along the lines of investment into a skill, health care anything. Nurse aids can train in a short amount of time and make a reasonable living as patient care techs in hospitals or travel /agency CNAs (making as much some nurses where I live). Psch aids reqire on the job training and pay around 22k where I live. (However, the overtime makes it worthwhile in my area). Practical /vocational nurses require a year of schooling and they make 48k to 60k where I live plus as much OT as you can handle. The two yr education routes of dental assisting and nursing pay around 60k+ where I live. Not everyone can take this much time for school but it is worth it if you can. Reference I live in rural Texas. - u/Tejasnurse2003 +* Weed wacking is nice and pays decently. I would spend around $400 for a nice weed wacker. You need eye and ear protection. You need to live somewhere where it’s needed. Be reliable. Responsible. And Hard working and you’ll do fine. u/brandnewdayinfinity (User is not in this profession, so please note that this may not be a complete picture of expectations or requirements). +* If you are a singe mom and struggling in a retail job, please, please, get a CNA license. It is a three week class, and you will have a job almost as soon as you graduate. Take that job, take the tuition reimbursement and become an LPN. -**u/Philogirl1981** + +So who has any more ideas or info? The focus I'm intending is lasting change with low barriers to entry. As accessible as possible to people who are in poverty with very little support. +Gamestop is up a whopping 35% right now, pricing them at above pre-crash levels. This sort of makes sense -- they are doing at store-pickup, and people have a lot more time for video games. Would you guys place puts? + +Frankly I'm tempted to just sit on my hands for the time being +So, as it turns out, China's government is the second biggest Bitcoin whale, only second to Grayscale. + +The whole "governments will ban Bitcoin" is bullshit. They just want your bitcoin for themselves. China has over 8.1 billion in BTC (at $42k) it seized from "illegal" mining operations and trades. They didn't sell it, they didn't auction it. They kept it, then they cracked down on it. + +You think they wouldn't have cashed out 8.1 billion if they really thought about banning it "forever"? + +They want your coins, and they know they can't take them. Which is why they will try to make you believe anything and make you panic to force you to give it to them willingly. + +Don't. +I found this 47 page masterpiece trying to research the possible effects of IEX on the market and my favorite stonk. I was searching for information on its effects on the spread. I searched for "does IEX stop spread manipulation" and I found this beauty, right at the top. And it mentions Citadel by name. + +Reposting because of the president's name used as a verb. Sorry + +A submission sent to the SEC: + +https://www.sec.gov/comments/10-222/10222-485.pdf + + +I've only skimmed most of it so far, but it is a breakdown of market manipulation tactics that IEX would eliminate. It even talks about ways IEX could be unnecessary if the SEC would get it's head out of it's ass! + +We're talking spread manipulation tactics, order routing, even a description of how heat effects computer clock speed. I'm still reading so I'll edit with anything interesting I find or make a new post if necessary. Check it out though, it's incredible. + +The first page is satirical, made me think it was a MM shill at first. About halfway through the second page ends the introduction and satire. + +Here have some pages + +1 + +May 26, 2016 +File No. 10-222: IEX Is Un-American, Its Application Must Be Killed Immediately + + +Dear nice people at the SEC, +IEX is definitely un-American, if it becomes an exchange, IEX will not only change the +US trading landscape, but it will also, irreversibly, like a virus, spread world wide. Its +application to become an exchange must not succeed. This danger to America and the +wider world is real. Not just imaginary. + + +If IEX’s application is granted, if IEX is allowed to prevent high frequency trading quotes +and orders from being altered in less than 350 microseconds, it will be an economic +disaster. + + +The high frequency trading industry will have to abandon its core trading strategies; +including the all important price/time arbitration trades which play crucial roles in price +discovery and price accuracy. In turn, reducing a vital American industry’s abilities to +latency arbitrage markets honestly and fairly, will cause volumes to drop significantly. + + +Approving IEX’s application will negatively affect the profits of every single HFT fund and +every single American exchange. Even worse, imagine if IEX infects the rest of the +world; the HFT industry would be forced to abandon its most lucrative trading strategies +not just in America, but world wide. This must not and will not be allowed. + + +The HFT industry is critical for the stability and profitability of financial markets; +especially in turbulent, flash periods. HFT also plays a vital liquidity provider role; it +helps ordinary investors connect with companies that use public markets to raise funds. +HFT is what makes America, America. All the HFT hedge funds and all the other +exchanges (NYSE, NASDAQ, BATS) that welcome this business, by creating bespoke +HFT products, are American. IEX is not. +IEX is Un-American + + +In America “greed is great” and markets should be “played like a piano”. IEX’s attempt +to introduce a small, micro, delay is un-American. Haven’t they heard of the HFT “arms +race” and the important “race to zero”? IEX’s notion of investor equality sounds European, possibly French. In truth, however, I suspect, it is much, much, worse. + +I suspect IEX could actually be North Korean! Or possibly even another “K”, Kenyan! I +wish I could get a glimpse at Jeff Sprecher’s evidence. I wish he wasn’t being so +diplomatic, but I can understand why; as the CEO of not just America’s, but the world’s +largest exchange, it’s important that his statements are of the highest standards. +Massoud Maqbool, CEO, Latency Innovation Corp 1 + +2 + +Fortunately I can leave investigating IEX’s real birth place, to smarter people than me. I +have reached out to Donald Drumpf’s people. He is the smartest and greatest. No, I +mean he is the greatest and smartest and also the bestest of the best, and he knows all +the best ones. Not to mention the great and smart ones. He proved the current US +president, is a Kenyan muslim, he can help prove IEX’s birthplace and possibly also its +religion. Although we may have to pay Drumpf extra; his top notch, investigative skills +aren’t cheap. Also small ‘child sized’, gold-plated coins are expensive. + + +The only good news is, even if IEX wins, none of this will affect HFT trading strategies at +the other real American exchanges. IEX might be able to help real investors on one +exchange, but it can’t do anything about those trades on other exchanges. + + +Still, a precedent cannot and must not be allowed. Kill IEX’s application. Please listen to +the wise counsel of Citadel. Firms like Citadel and every American exchange, not IEX, +are the real champions of investor rights. Again, not IEX. Citadel is correct in identifying +IEX’s 350 microseconds as a pothole and it’s absolutely proper for Citadel not to point +out the varying internal latencies of the other real American exchanges. + + +If you find yourself agreeing with this, well, you may be in for a shock. Now’s probably a +good time to go get some full fat NYSE yoghurt. +IEX is American as Apple Pie! It’s the Underdog in Every American Movie +I’m not sure why Captain UnAmerica at the NYSE believes IEX nationality is important +and I apologize for my mischievous open, but since IEX’s application has brought out +much nonsense, hypocrisy and plain old lies, it’s just hard not to partake;-) I’ve also +been watching too much John Oliver. + + +You’ll Get Better Odds in Vegas + + +Trading markets are neither fair nor healthy; if there are those that can “play markets like +a piano”, what about the ordinary investors who cannot afford fancy, expensive, high +speed automated musical instruments. + + +Unlike Vegas, where the gambling regulator reviews all gaming software to ensure +fairness and the casinos black list rogue gamblers, HFT algo gaming software is not +reviewed by the trading regulator for fairness and exchanges actually profit from rogue +trading activity. + + +A simple pre-review of HFT trading algorithms would actually eliminate a significant +amount of manipulation and reduce wild market swings. If it isn’t obvious, a proper +review and test of algorithms would also significantly reduce the risk of flash crashes. + + +Given the knock on impact of these crashes to the US economy, US national security +should actually [A presidents name] hedge fund secrecy. + +3 + +Disappointment and Confusion + + +The unnecessary delays to IEX’s application are disappointing and confusing. I would +prefer not to comment on IEX’s application, largely, because I believe IEX’s application +should have been approved already on its merits alone. I’m also worried my story is a +bit noisy and a ‘distraction’ from its application. Unfortunately this ‘distraction’ is why IEX +is needed and must be disclosed. +The real truth about IEX’s application and why it is much needed, has been drowned out +in half truths, lies and even incredulously, bad Seinfeld jokes (only the NYSE could make +Seinfeld unfunny). + + +The Truth Is Out There + + +US electronic trading markets are being manipulated at will and the retirement funds of +millions of actual Americans, are being high frequency scalped, every second of the +trading day. All under the watch of the most powerful financial regulator in the world +with, arguably, the world’s most useless market data tool. + + +Some Introductions + + +In early 2013 I became a customer of the NYSE and purchased Open Book Ultra data; I +was writing a book on how to calculate the cost of latency and required microsecond +time stamped data. After I analyzed NYSE’s technical systems documents and market +data “yada yada yada”, the SEC made me an official whistle blower against the NYSE. +Sorry. Did I “yada” over the best bit? Before I go over that bit, it is important to note that +before going to the SEC, I first went to the NYSE and told them about their market data +problems. The NYSE’s response was laughter. What is it with NYSE and comedy? + + +Yada Yada Yada: NYSE 50 Shades of Brown + + +I would describe my affair with NYSE as painful and torturous. A relationship that at +times caused me to question my sanity. It’s fair to say it wasn’t a healthy relationship for +either of us. Although, if I’m totally honest, towards the end I did enjoy paddling the +NYSE with the big board. +To list all of the NYSE’s faults would take a long time, so I’ll just cover 3 important ones +(at the end of this letter I have attached some of my previous SEC research which has +more details). + + +NYSE Problem 1: Equities Matching Engine Time Stamp Error + + +A software programming error resulted in incorrect time stamps in NYSE’s matching +engine. Resulting order book is sequenced incorrectly and the market cannot be +recreated. NYSE confirmed this problem to me, in writing, but doesn’t feel it is important +to inform the market. + +4 + + +NYSE Problem 2: Market Data Book Building Design Flaw + + +This problem should have been apparent to anybody who has ever had to read NYSE’s +technical design documents; no market data was really required. NYSE’s design flaw in +creating its order book, means the book is sequenced incorrectly and the market cannot +be recreated (even with the correct time stamps). NYSE’s poor software design (not a +programming bug) makes it impossible to determine the correct order of market events. +This design might have worked in the 1980’s, but even then they were pushing their luck. +To make matters worse NYSE’s suggested work arounds to its design flaw, simply +further demonstrated its lack of expertise; the flaw was so fundamental it could never be +worked around. Suggesting incorrect work around solutions exposed that they truly did +not understand how to design a book feed correctly! Again NYSE confirmed this +problem to me, in writing, but doesn’t feel it is important to inform the market. + + +NYSE Problem 3: Very Poor Time Synchronization and Very High Internal Latency + + +NYSE’s internal servers were out of synch by as much as -3 milliseconds which mean’t +receiving systems has time stamps that were earlier than the sending systems. In the +race to zero, NYSE’s time traveling messaging technology went beyond zero, +On the other hand, NYSE’s ‘accordion’ internal latency, for it’s real time, low latency +feed, was also as high as 4 seconds. That’s quite a bit more than zero. Again, this can +mean it is impossible to determine the correct order of market events. Amazingly, NYSE +was comfortable with its operating performance. 4 whole seconds! + + +Too Many Problems For a High Standards SRO + + +Problems 1 & 2 are bad enough; providing market data competently is a basic function of +any exchange. Problem 3 however, allows the whole market to be manipulated with +ease and even anonymity. When you consider that NYSE data is used worldwide, the +harm its low standards cause, impacts almost every electronic trading market on Earth. +This is just one of the reasons why I have just forwarded some of my NYSE SEC +research, to UK and European regulators, who may wish to evaluate any potential +ICE/NYSE bid for the London Stock Exchange. + + +Talking Sideways Shamefully + + +Given all of NYSE’s internal problems, it’s quite difficult to take its desire to help +investors seriously. Indeed, with all of the NYSE’s many, many problems, bereft of +shame, the NYSE’s CEO and senior staff, cry crocodile tears when commenting on the +damage IEX’s fixed latency will cause. NYSE’s lack of honesty and public disclosure is +quite simply shameful. +Years Later, Still Unknown Unknown$ +The total financial losses incurred by market participants, from using corrupted NYSE +market data, are still unknown. +In addition, all these years later, it is still unknown whether US trading markets have + +5 + + +problems with monotonic time. A big part of the problem is that most people in the +trading industry don’t know about the significance of monotonic time. Most people will +first have to look up what monotonic time means; which is quite crazy given the +significance of exchange time synchronization and its importance in precisely identifying +when an event actually occurred on an exchange! + + +Noisy NYSE’s Nonsense + + +All of NYSE’s, easily preventable, problems should automatically disqualify the NYSE +from being able to comment on another firm’s application to become an exchange. +Since it can’t even run its own exchange, ‘NOISY’ should focus on getting its glass +house in order before throwing boomerang-shaped rocks at brick houses. +The NYSE is an expert on low latency and exchange standards, like Donald Drumpf is +an expert on business. They are also both quite delusional, but worryingly, the influence +they are able to exert is frightening. + + +High Speed Hypocrisy and More Crocodile Tears + + +All the ‘clever’ HFT funds monitor and measure exchange latencies meticulously and +continuously; they are the first to know when a quote is stale. They also know all +exchanges have varying internal latencies (some like the NYSE very high). No +exchange has zero latency! Why is the latency of existing exchanges invisible? Why +don’t any of the HFT fund or exchanges, that care about protecting investors, talk about +this invisible latency when they speak of the perils of IEX’s small fixed latency? +The SEC should also be familiar with the concept of internal exchange latency. Which +makes its open question to the market most puzzling, “Would delays of less than a +millisecond in quotation response times impair a market participant’s ability to access a +quote or impair efficient compliance with Rule 611?”. A fixed delay of 350 microseconds +is inconsequential and actually quite valuable. + + +The Race to Zero is Not a Technical Marvel of Humanity + + +IEX’s small fixed latency is falsely proclaimed as an impediment to technical progress; +that US markets will be left in the technical dark ages. This reasoning is wrong. In an +age of ever increasing technical sophistication and higher costs, a small fixed latency +protects investors and acts as an equalizer. If it’s not obvious, night and day (or ‘light +speed’) disparities in trading speeds, between market participants, cannot by definition +be described as “fair and equal access”. + + +See No Evil, Hear No Evil Regulation + + +NYSE’s market data exposes critical weaknesses in the SEC’s ability to accurately +conduct market surveillance using MIDAS. The data I provided the SEC clearly +demonstrates that that because of all the underlying time stamp inaccuracy and cross +exchange synchronization problems, the market can NEVER accurately be recreated +and audited. It also proved NYSE’s systems were very easy to manipulate, which in turn +made the wider market easier to manipulate. + +6 + +Beware the Curse of Gold-Plated Greek Gods + + +The $2 million the SEC spent on MIDAS, to ‘oversee’ the market, was useless and better +spent on a Rube Goldberg machine made from actual real gold. At least that could be +resold to a hedge fund looking to decorate their offices; no hedge fund would spend $2 +million on MIDAS. If I were the SEC I would ask for my money back; MIDAS is not fit for +the purpose it was sold. Please, please, get a refund and spend that money +appropriately. Please help supplement the American exchanges that are so poor they +cannot buy time synchronization technology (or don’t have the money to learn how to +use it properly). Until they do, MIDAS will never work…actually even if they do there are +still problems! + + +Shoe String Budget Exchanges + + +Time synchronization problems are a result of exchanges not spending a few hundred +thousand dollars on precision timing systems (including buying the right technology, +learning how to use it, setting it up correctly and operating it properly). As a result it is +simply impossible to precisely determine when an event precisely occurred in any +electronic market (equities, commodities, derivatives, currency etc). Exchanges with +weak time synchronization corrupt the wider market which makes forensic auditing +impossible. It’s just best guessing really. + + +Rats to CATS + + +The exchanges and market’s poor time synchronization problems mean that the SEC’s +very late CATS, will never work in its current design. +All of these problems put together, further demonstrate that markets are indeed broken +and wide open to manipulation. +I’ve been losing money non stop the last couple of months. I know growth stocks have been hit the hardest while everything else is going up. Has anyone else been hit hard the last couple of months? And does anyone know when this shit storm end? Man I’ve been getting pummeled continuously and it’s just honestly sad. I’m about to sell everything and just dump my money into VTI or VOO and forget about it for the next 3-4 years at this point. Stocks in holding such as IPOE, XONE, STEM, MP, and FCEL have been continuously getting pummeled and I just feel annoyed at this point. I don’t know how much longer this shit storm will last. Even ARK ETFs have been struggling. + +Write down that plan. Explain how you would invest in different situations that the market could throw at you. Only by writing your steps and plan down will you be able to fight through the noise that will no doubt be hyped on every financial news channel, late night tv spot, Facebook ad, and every YouTube commercial telling you how to make millions their way. +Everything and nothing will sound logical. Anyone who was invested in 2008-2009 will understand the pulls and pushes of information overload that will be coming. +The stories of people on the streets, people losing their jobs, houses getting foreclosed on. Lions, tigers , and bears, oh my. Get your actions steps together now before the nonsense and noise attempt to take you on a wild desperate ride that could cost you tens of thousands or more in fees, taxes, and capital losses. +Are you going to sell everything? Are you going to sell half, a third? Are you going to hold fast at your current levels? Are you going to fight the noise and actually add to your holdings? Are you going to hold a specific percentage of cash? 10, 20, 30%? More? How far down will you wait for stocks to drop before you begin deploying the cash into stocks again? +Will you be patient and change nothing because you understand your investments and don’t fear short-term losses? If so, will you continue to add capital on the way down? How much capital will you add. The same as before? More, less? +Will you be moving your money out of the market completely and move into other investments? Are you going into precious metals, bonds, real estate? Something else? +Write it down, access, adjust, stick to your plan. +Start Investing Early, Never Stop, Stay Focused. +It's not a huge deal but TfL are sitting on several million pounds of stagnant cash. If you've changed to a contactless card in the last few years and stopped using your oyster, it's worth a check. At the very least you get your £5 deposit for the card back. + +Sorry if this is the wrong place! + +E: [relevant article](https://www.independent.co.uk/news/uk/home-news/tfl-dormant-oyster-cards-money-stored-refund-reclaim-deposit-transport-for-london-a8424336.html) +I used a lisa for my first house purchase. My goals are now towards investing in index funds. I was looking at a lifetime isa with index funds. If I paid in £4000 in a tax year would I still get a £1000 government bonus like before when I had my previous Lisa towards the house? Thanks +I am in my late 40s and investing in ETFs long term. I recently purchased VBAL, XEQT and ZCN thinking they are diversified. However, after posting on another forum replies were that why I would own all three since they have similar holdings. + +Can someone explain how this is? I thought they were different. + +Is there an ETF that is different from the above that I should also buy? As they say, I don't want to put all my eggs in one basket. + +&#x200B; + +Note: All of the above is in my TFSA and I don't mind investing in index funds or anything else that I can keep long term. +Why do some companies go through the trouble of issuing bonds when they can just get loans from banks? What is the benefit of issuing bonds vs. borrowing from bank? Can you get lower rates from bond issues? I know CFO's will try to target their interest rate to optimize them at a certain level for tax shielding purposes - does this have anything to do with it? +I've managed to keep up my regular monthly investment strategy. But it's a bit tough buying Vanguard funds only to see the value go down the next day. Over a few months the value of the portfolio goes down significantly. + +So in a sense I've made a big loss on paper over the last year. In addition to the money I've added. + +Of course all this relies on the fact that the market is down at the moment and will lift in the future. + +These are the times most people will pull out of the market or will not invest additional funds. Some people will do it directly, or others will just redirect their funds elsewhere. + +Of course this is the time you are buying units at lower prices. + +Has anyone withdrawn from the market during this time? + +EDIT: a lot of people seem to have misunderstood. I am still adding funds to the market and will continue to do so. + +I simply want to know who isn't. + +Although I don't think this echo chamber is the best place. Because the people who aren't investing are probably not on this subreddit and are concentrating on other things +A scammer named lawrence2276 tried pulling off a bitcoin trading scam on me. I pretended that the websites he sent were broken (using inspect element), until he finally told me to send directly to his address. I asked him if he could do a test tx where I send him 0.001 BTC and he sends it back. He agreed. + +I sent this TX: + + [https://live.blockcypher.com/btc/tx/687fe72c6173f1ed2d9b4929ee4e4a1b85dd6d5e2f8773ed9ebab52a6e568295/](https://live.blockcypher.com/btc/tx/687fe72c6173f1ed2d9b4929ee4e4a1b85dd6d5e2f8773ed9ebab52a6e568295/) + +and the guy sent me back 0.001 BTC without waiting for confirmations: + + [https://blockchair.com/bitcoin/address/12CPhvSp88sv7QnwnzanzxV3bjm5m51TPx](https://blockchair.com/bitcoin/address/12CPhvSp88sv7QnwnzanzxV3bjm5m51TPx). + + He didn't notice that I had RBF on. From here, it was simple to double spend the funds back into my own wallet. + +[https://live.blockcypher.com/btc/tx/d4dff793d00588b9fe33c8b95c7a056573d224b8028760519b4c3d83f03f9182/](https://live.blockcypher.com/btc/tx/d4dff793d00588b9fe33c8b95c7a056573d224b8028760519b4c3d83f03f9182/) + +Here's the double spend. + +**This is why you shouldn't accept zero confirmation transactions (especially ones with RBF enabled). If you want to know whether RBF is enabled, enter your txid on blockchair.com** +**TL;DR:** I created a spreadsheet that automates pulling trending +cryptocurrencies, recent tweets, and bullish/bearish sentiment into Google +Sheets. You can find it here: + +[https://docs.google.com/spreadsheets/d/1QtxaDWCoXkIqjPVVkU8DNsx8GBaBd180COwn1CIasa8/copy](https://docs.google.com/spreadsheets/d/1QtxaDWCoXkIqjPVVkU8DNsx8GBaBd180COwn1CIasa8/copy) + +I know some crypto users prefer to work in spreadsheets (including myself) so I +created a spreadsheet that looks at trending symbols and estimates +bullish/bearish sentiment. I never had the time to develop software engineering +skills, but the recent launch of a few add-ins has allowed regular joes like +myself to harness the power of APIs. + +### The Beauty of Sentiment Trading + +According to [Google Trends](https://www.google.com/trends/explore#q=sentiment +analysis), the word “sentiment analysis” has been gaining steady traction over +the past 5 years. + +Sentiment refers to the attitude expressed by an individual regarding a certain +topic. This is especially relevant in trading, where so much of the change in +price is dictated by emotions: + +When it is applied to trading, sentiment can be used (with great potential +windfall) as a directional signal to figure out whether you should enter a +crypto position within your portfolio. + +A way you can utilize sentiment when trading crypto, is to measure the +positivity or negativity of a tweet. If recent tweets have been overwhelmingly +bullish (aka, the person expects the crypto rise) and movement is beginning to +happen in the currency, chances are good that the trend will continue. + +Luckily for you, StockTwits already does this with around 225 different +cryptocurrencies. And if you can combine the sentiment with trending +cryptocurrencies, you can catch the wave right as it forms. + +### Services Used: + +1. Google Sheets +1. [Spreadstreet Google Sheets +Add-in](https://chrome.google.com/webstore/detail/spreadstreet/fghpmppcbabgnpekploacbjijhppnkpp?authuser=0) +1. StockTwits +1. CoinMarketCap API + +Full disclosure: The google sheets add-in is a 14-day free trial, and $15 per month after. However, no one should be refused access on the basis of money (especially true for students and less fortunate). Send me a message, and I will make sure you are not left in the dark. + +### A note on security + +Users have expressed hesitation about running a google sheets add-in on their main computer, so I will attempt to ease those concerns: + +- I am located in the U.S., and my business is registered in the state of Maryland +- If this were malicious, people would have downvoted the add-in into oblivion, and it would have been removed from the store +- **If you are still worried, you can open it within a virtual machine and test it first** + +### What it pulls: + +* Trending Symbols (30 at a time) +* Historical Price Data +* Recent Tweets +* Bullish/Bearish Sentiment of recent tweets + +### AN OVERVIEW OF THE SECTIONS + + +[The Dashboard](https://cdn-images-1.medium.com/max/1000/1*A1l5GDAw2ke0QQHGvlAthQ.png) + +[Changing the timeframe](https://cdn-images-1.medium.com/max/1000/1*Hmx0ksx61_hwC8oqPAu_IQ.png) + +[Changing the cryptocurrency](https://cdn-images-1.medium.com/max/1000/1*kqyjmlOJoec7f_DUONu-9w.png) + +[Instructions Tab](https://cdn-images-1.medium.com/max/1000/1*5TnvAqMDCMFZe48YbJ0UkQ.png) + +[Summary Tab](https://cdn-images-1.medium.com/max/1000/1*Mxj9g0-sEyvPcinWVB1EQg.png) + +### How to use the spreadsheet to spot trending cryptocurrencies + +You will spend most of your time in the “Analysis” tab, where the trending +cryptocurrencies reside. + +I am almost always looking at the “By Hour” timeframe, as the “By Day” and “By +Week” is usually a missed opportunity…however, those time frames can still be +very useful (albeit, for different reasons). + +You want to ride the wave on a cryptocurrency under one or both of the following +conditions: + +1. The tweets are very recent, preferably within the last hour +1. Overwhelmingly Bullish sentiment + +[A Great Example](https://cdn-images-1.medium.com/max/1000/1*0cYaT-Q5CrjUePOcBYx5PQ.png) + +[A Bad Example](https://cdn-images-1.medium.com/max/1000/1*hBdy-4j-AYo9m1-V39modg.png) + +### Getting the spreadsheet to work for you + +**1. Install the Spreadstreet add-in for Google Sheets** + +* [Click this link to download the Spreadstreet Google Sheets +Add-in](https://chrome.google.com/webstore/detail/spreadstreet/fghpmppcbabgnpekploacbjijhppnkpp?authuser=0) +* Follow the installation instructions included with the add-in and log-in + +**2. Get sheet ready for use with the add-in** + +* **Important** Open the template, click the menu Add-ons / Spreadstreet / Help / +View in store, and then click Manage and in the dropdown menu click Use in this +document. +* Numbers in row 26 and below should populate. If they do not, refresh the sheet + +**3. After logging into the add-in, refresh the sheet** + +* In the analysis tab, change the “TIMEFRAME” dropdown to one of the other +choices…this refreshes the pull +* Note: CoinMarketCap API has limits. Be careful when attempting to refresh the +sheet too many times + +### Troubleshooting + +1. ***Important*** Open the template, click the menu Add-ons / Spreadstreet / Help +/ View in store, and then click Manage and in the dropdown menu click “Use in +this document.” +1. A reload of the entire worksheet fixes quite a few problems. +1. Deleting and re-pasting the formula in A1 of the “Data” tab fixes things as +well. +1. If all else fails, drop me a message +1. The “TIMEFRAME” cell in the Analysis tab (B3) refreshes the pull. Change the +results for new data. + +**Some trending coins are not pulling correctly…what’s going on?** + +StockTwits has a list of ~225 coins it currently supports. See the “TweetInfo” +tab for the full list. + +**I have tried logging in, activating the template with “Use in this document” +and refreshed the sheet…still nothing.** + +Head to the “Data” tab. Delete the formula in cell A1, and repaste the +following: =SS(“tickers-coinmarketcap”, headers, “0”, Currency) + +Hoping this is something that is useful to everyone, and I am more than happy to +help peeps setup the sheet so they can use it. Just send me a message on here. + +Original Medium article can be found here: https://medium.com/@spreadstreet/financial-modeling-for-cryptocurrencies-the-spreadsheet-that-got-me-my-first-1-000-gain-f4d0d1a6e5ed + +### RESOURCES + +Download the spreadsheet: [https://docs.google.com/spreadsheets/d/1QtxaDWCoXkIqjPVVkU8DNsx8GBaBd180COwn1CIasa8/copy](https://docs.google.com/spreadsheets/d/1QtxaDWCoXkIqjPVVkU8DNsx8GBaBd180COwn1CIasa8/copy) + +Download the add-in: +[https://spreadstreet.io/tools/google-sheets-add-in](https://spreadstreet.io/tools/google-sheets-add-in) + +Help: [https://spreadstreet.io/docs](https://spreadstreet.io/docs) + +First time install and login: +[https://www.youtube.com/watch?v=aLjtPR4T2bg](https://www.youtube.com/watch?v=aLjtPR4T2bg) + +Bitfinex Candles endpoint help: +[https://spreadstreet.io/knowledge-base/bitfinex-api-candles-endpoint/](https://spreadstreet.io/knowledge-base/cryptonator-api-complete-ticker-endpoint/) + +### RELATED POSTS + +[Top 12 Cryptocurrencies Ranked by Risk-Adjusted +Return](https://medium.com/spreadstreet/top-12-cryptocurrencies-ranked-by-risk-adjusted-return-34356cb6acab) + +[10 Statistical Price Predictions for 10 +Cryptocurrencies](https://medium.com/@spreadstreet/10-statistical-price-predictions-for-10-cryptocurrencies-b8167f076d5d) + +[Bitcoin Madness: How to Simulate Bitcoin Prices in Google +Sheets](https://medium.com/@spreadstreet/bitcoin-madness-how-to-simulate-bitcoin-prices-in-google-sheets-c61cb42f26ed) + +### ABOUT THE AUTHOR + +John Young is the founder of Spreadstreet.io, former Financial Analyst for a big-ass company, and runner-up in the 6th grade spelling bee. He would have invested in Google if he knew about it...and had any money. + +He is the author of the Spreadstreet blog, which has over 3 readers (not a typo). He hopes to hit 10, but honestly writing is a lot of work. + +I received an email that mySupermarket is closing. I used it for a long time to compare products to get the cheapest deals and for the alerts. It really helped me save a lot and budget better. + +This is was the message in the email: + +“Dear mySupermarket users, + +After 14 years of service to UK shoppers, the mySupermarket website and mobile application will be taken down from March 1st, 2020 as we shift our activity toward other business areas. + +We would like to take this opportunity to thank the tens of millions of you who have used our services over the years and who have contributed to its amazing success. + +It has been our pleasure and privilege to serve you and to share this journey with you. + +Thank you and goodbye!” + +Since that is going, are there any other alternatives? +last time we had such a smooth steady increase was when RC bought in, i kinda get the feeling he's putting his money where his mouth is again. He was probably pissed about the recent dip to 137ish, so he's really gonna stick it to them now + +Anyways tomorrow is supposedly the GME stock split announcement, tits jacked! WOO! +**NFTs as Dividends** + +A big problem with GameStop releasing NFTs is that Fidelity and other brokers claim that there is no system for dispensing an NFT. An NFT (non-fungible token) can be traded for a dollar value, but NFTs are usually unique, and it would be hard to attribute exact dollar values to any NFT if, for example, 1000 NFTs placed on a marketplace all have different price tags. + +This makes it easier for Fidelity and other brokers to say, "sorry bro, we can't dispense these, and there is no way to assign a monetary value. So I guess you'll have to take this to court to get anything done." It gives them much plausible deniability to give out anything at all. What's the next best solution, and arguably the BEST solution? + +**Crip-toe as Dividend?** + +GameStop can also distribute dividends in the form of crip-toe. It could be bitcorn, or etheriam, but they would have to purchase that on the market and dispense to shareholders. If it were crip-toe, then there IS a monetary value associated, and SFHs would have to pay up from the precedence set by Overstock. However, what is the point of dispensing crip-toe when you can just give out a cash dividend? It's literally the same thing, only creating more unnecessary work. But if you've been in the crip-toe space for a while, you should already be aware of how a company can create money out of thin air and have a billion-dollar valuation overnight. (Not that GameStop isn't a billion-dollar company already) + +**ERC20, this will squeeze them by the balls** + +If you're familiar with ERC20 (an etheriam token), you'll know that anyone can make one. But it has to be useful, have purpose in a smart contract, or the underlying creator company must provide some kind of utility or value for it. GameStop has that power. Imagine, minting its own ERC20 for free, and dispensing away an arbitrary amount of X% tokens to shareholders each time. + +This would be win-win-win-lose for everyone except the SHFs (Short Hedge Funds). + +* 1) GameStop can mint these out of thin air, costing them effectively $0 dollars. In terms of utility, these token themselves can be redeemed for NFTs should the shareholders choose to do so. + +* 2) Once this token hits exchanges, there will be a monetary value associated with them. Brokers can now no longer claim that they can't dispense this dividend, because it is now fungible. **Brokers now must force SHFs to pay up.** + +* 3) Hyped-up new tokens have crazy speculative valuations. If GameStop gave all shareholders even just 5% of all tokens on the first dividend release, who knows how many tokens we'll get, and what the market value is going to be. All I know is that prices can get cray-cray in the crip-toe world when there is a crazy new ERC20 released. Imagine each shareholder gets 100 tokens. And once the token hits the crip-toe exchanges, they get traded at $2.00 per token. Well, GameStop now effectively created money out of thin air, gave all shareholders $200 per share, **and now SHFs have to pay the market value of $200 for each share they are shorting. CAN SOMEONE SMELL THE MOASS??** + +DRS'd Shareholders win because we got dividends. We can exchange for NFTs if we want. Shareholders not DRS'd also win, because now exchanges have to force SHFs to pay up. And due to the speculative nature of crip-toe, they may be backed into near bankruptcy/MOASS on the very first dividend release. + +What's the real short interest again? 200%? 500%? 1000%? At 1000% short interest, for every ONE-DOLLAR-VALUE that the dividend holds, the SHFs have to pay TEN DOLLARS. At $200 worth of ERC20 dividend valuation per share, the SHFs would have to pay $2000 for every share that exists in the float. + +**TL;DR: Releasing an ERC20 as a dividend redeemable for NFTs would allow GameStop to generate free money while paying DRS'd shareholders, paying non-DRS shareholders, and SFHs would most likely go bankrupt after the first release, resulting in instant MOASS.** + +Obligatory rockets 🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀 +A Solsea-verified NFT project on the Solana Blockchain, Doodled Dragons announced that they would distribute all profits + "straight to charities protecting animals on the brink of extinction". + +They announced on Twitter that they would be donating $30k, "our first donation to the World Wildlife Fund" + +Two hours later, they tweeted + +"Actually, Fuck that. Our charity will instead now be.... My Bank Account. Cya Nerds." + +They deleted the Twitter account shortly after that. + +Audacity of Scammers. + +Stay safe Guys, don't believe anything especially the new NFT collections and play to earn Crypto games. +Hi guys, I've put 5K into a separate broking account to learn the Wheel strategy. + +As a newbie to selling options, you advise suggestions on stocks and any comments are welcome. +New backtest is out by u/spintwig in his SPY Wheel Cash-secured writes vs. underlying performance series. + +I personally am happy to see the data put out in this one as I've been recently playing around with 0dte SPX writes and it's important to have data to support whether or not the strategy is worthwhile to continue especially when you consider the risk associated with those larger contracts. + +[SPY Total return vs. 0 DTE cash secured strategies image](https://imgur.com/a/Phbr3Ia) + +[The Backtest itself](https://spintwig.com/spy-wheel-0-dte-cash-secured-options-backtest/) + +Moving forward it seems like I'll continue to be picky on the days in which I'll enter the trades combined with focusing on <5 delta writes as they showed any profitability in the study. +Keep it friendly and civil; this is not WSB and automod will censor your posts at will for unsavory and unfriendly remarks. Try to keep shit posting and bragging to a minimum. +Hi y'all, + +Newbie Thetagang-er here. I'm sorry if this question has been asked before (I couldn't find it), but I was wondering the following with regards to (short) strangles: + + +In a (very) high IV environment, the Expected Move is very big (it must be, since the two are related). However, if such a big move would occur, IV would also collapse, right? In this case, which of these two opposing forces is stronger? Is it the IV crush in our benefit or the big move in our negative? + + +If I've made any mistake please feel free to correct me, happy to learn :) +Hi all, + +I just picked up a few box spreads on PBR (Petrolea Brasilia) Jun 17, 11 and 16 strikes, for 6.25. + +It works out to about a 5% return on the margin requirement, or more than 60% annualized. This seems a bit too good to be true, for little to no risk. In fact, the long options are so cheap that you could buy 2 long for every short and still have a guaranteed profit. There is a huge amount of shares available to short and a low borrow rate. The xdiv was a few weeks ago and the next isn't scheduled for another 6 months. I've done these type of trades before, but this profit level seems ridiculous. + +So here's my question - am I missing something here? Why haven't bots and algos wiped this out? + +Thanks for your thoughts! + +&#x200B; + +EDIT + +**The results:** + +**Total gain of .4 per spread over a 10 day period.** (And probably should've been more as it was filled to close instantly) + +Assuming a very conservative capital reserve of 1500 per spread set aside, this represents a 2.6% return in less than 2 weeks, or about 65% annual. Which is not bad at all... + +For those of you who posted your feedback in the spirit of the post, thanks! For those of you who posted useless cliches about blowing up your account with small box spreads if you get assigned, well, a bit more thoughtful comments would certainly be appreciated next time. + +&#x200B; + +See chart below for resutls. + +Notes: + +* I've put credit as negative and cost as positive, so the negative number at the end is a gain +* I was assigned as expected, but since there was no fee for this and the rate to hold for this period of time is essentially nothing, this didn't impact me at all. + +&#x200B; + +|Original||After exercise|Closed at|Total| +|:-|:-|:-|:-|:-| +|11C|\-3.93|\-14.93|14.3|| +|16c|.18|.18|\-.16|| +|16p|\-2.62|\-2.62|1.9|| +|11p|.12|.12|\-.04|| +|Total||\-17.25|16|\-1.25| +|Dividend||||.71| +|Fees||||.12| +|Return||||\-.4| + +&#x200B; +I read a post the other day about closing trades early. Like if they hit 25% profit in a few days. There was some tasty trades research cited, some statistics. The general consensus was if it hit 25% profit in a few days, close it and open a new position. I had it open on my phone and then my phone died and I lost it. Does anybody know which post I’m talking about? +Here is my advice: when it is Friday and you are trying to close or roll your positions before the market closes...kick the dogs outside so they stop pestering you with every little thing, making you lose concentration and hit the wrong button... +I've been selling calls on on solid companies (AMZN, BA, ACN, AMD, AMAT, & others), but this week's rally has moved them ITM, and it's too late to roll without going really far out. + +Would it be better to begin selling puts today at the price they're getting called away at, or wait for a down day which might happen next week? I have enough margin/cash to do it without waiting for funds to clear from the upcoming sale of the underlyings. And FWIW, some of these are below my cost basis, but I'm not too worried about wash sales. + +Alternatively, I could bite the bullet and just buy back the options at a loss. +Much better strategy than yoloing on wsb calls. I have been selling cash secured puts using margin since the last month. Made a ton of money. Perfect way to avoid fomo from wsb stocks. + +Edit: I did get burned. It was an expensive lesson. +So i have a million examples of trading tragedies ive had in my learning process... +For instance i was actually buying and selling stocks and options without a thorough understanding of bid/ask . I guess all the trades i did before i actually realized i fucked up must have had a good bid/ask. Unbeknownst to me. By the time i finally do realize it, i was losing $900 and there wasnt shit i could do. No one to buy. Thats a hell of a lesson for $900...smh. +Im sure there ars some good stories of trading tragedies that you would like to share. Id love to hear them.... +Keep it friendly and civil; this is not WSB and automod will censor your posts at will for unsavory and unfriendly remarks. Try to keep shit posting and bragging to a minimum. +I know there are platforms to do this but I was curious if this was a common thing to actually profit from your algo by selling or leasing it. Are you still able to use it if you do any of those things? +I'm not a trader, I'm an engineer.. so pairs trading interests me as it seems really straight forward. Seems like something you could almost brute force your way to find.. and its market neutral. + +Butttttt like anything in the market world. I begin to just assume that there is no way it could be that simple and be profitable. + +Can someone here set me straight, am I missing something? Are the 'pairs' just very hard to identify? Do you successfully pair trade? I've just been on this sub for too long and feel like it seems too good to be true. +Hi.I'm econ major planning to do math minor.Here's is the list of subjects given to me.I was wondering which ones I should choose from this list that I'll be using in algo trading field.I would be more than grateful if you helped.Thank you in advance. +the list: + +differential equations, + +linear algebra, + +abstract mathematics, + +nonlinear programming, + +analytical geometry, + +numerical analysis, + +mathematical modelling, + +convex optimization, + +optimization, + +fourier transform, + +introduction to game theory +I'm sure many people have tried this. I would love to hear stories of those who have tried black box strategies such as reinforcement learning methods. Evolutionary mutation, Q learning, Deep nets etc. + +What aspects worked? What didn't? + +Do you have any book or resource recommendations for these type of strategies? +I am currently downloading daily stock prices for about 3000 stocks for month ranges using yahoo finance in Excel. I am wondering if there is a more efficient way of doing this? I am new to this so any help is greatly appreciated. +I'm curious if there exists any books that take you through actual algo/hft trading infrastructure design and development. NOT trading strategies and money management topics. But an actual top-down big picture overview of things like feed handlers, FIX implementation, data storage, signals processing etc.. + +If such a book exists, it would assume the reader is proficient in C/C++ and get right to the heart of system design and skips any programming 101. + +Edit: Looking for books VERY similar to this http://www.amazon.com/gp/product/0750682515 +Hello all. + +I have been using pandas data reader to pull daily data from morning star for a while now but it seems they discontinued the service. + +Does anyone know of a reliable free data source that goes back several years? I am using python 2.7. +So I wrote some Python code looking for patterns in currency movement. I found a pattern that I backtested and got 69% success predicting whether currency INCREASEs / DECREASEs / STAYs SAME + +Is this a worthwhile % to be able to be profitable trading live? + +If yes : +Can I execute a trade based on my prediction algo and minimize loss on the other 31% I'm getting wrong with stop-loss set to execute if PIP change goes the other way to my algo prediction ? + +Hope that makes sense from this Noob! +For absolutely no reason other than I slight recollection of a dream some time ago, and out of nowhere just remembered it. + +"Gamestop tweets something in regards to 741 letting us all know what it actually means. (What triggered the memory of the dream) Later that night the nft team releases news regarding the nft they have been working on. They announce that Friday will be the official release date. They however do not disclose the intention of disbursement that night. The days leading up to that Friday drive the price to roughly $1500. On Friday it's announced that it is in fact the Wu Tang nft we have been speculating. But still no news on whether it will be sent as dividend. Monday morning comes: rocket takes off... + +That's the best I can remember of the dream. Something tells me that if this comes true and in that manner; that it will be during a run up on Monday that I would hope they announce the token as a dividend essentially causing any last SHF's to fuel the rocket in fear on non fungibility. Causing none of them to wait any longer and fight each other to close first. Insuring no dips in the MOASS. + +I realize this is a stupid dream so go easy on me. I just couldn't get it off my chest and wanted to leave this here for my own sake.... + +Even if this thing takes years than so be it. I'm ready. LFG GME +🤪🚀👨‍🚀🦍 +Please use this thread to have discussions which you don't feel warrant a new post to the sub. While the Rules for posting questions on the basics of personal finance/investing topics are relaxed a little bit here, the rules against memes/spam/self-promotion/excessive rudeness/politics still apply! + +Have a look at the [FAQ](https://www.reddit.com/r/financialindependence/wiki/faq) for this subreddit before posting to see if your question is frequently asked. + +Since this post does tend to get busy, consider sorting the comments by "new" (instead of "best" or "top") to see the newest posts. +Edit: it’s not that I felt entitled to it. I never knew or had any thought of anything passed down to me. It wasn’t until this information came to me that I was kinda bummed and felt betrayed. That’s all. I’m not planning to do anything about this. Just want to vent. + +My step mom always hated me and my old brother. We are precious marriage children. They went on to have 5 kids of their own. So my brother and myself have 5 half sibling. +My dad told me I was cut out of his will. (He’s weird he says things he shouldn’t in times he shouldn’t) while in a red lobster with my fiancé at the time. I finally had him tell me why years later at my grandmother funeral (his mom) and he said because Dania (step mom) made him do it. I asked why and he didn’t give me a straight answer. + +I’m not posting this for advice or to go after it. Just more like “what the fuck broh” and to vent about it. I don’t have friends to talk to about these things. +Jacked to the tits! 💎🙌 + +Edit: man, I was just a lurker and my account is new because I never had the need to make one. Seeing your comments make me feel less hurt on what happened. I love this sub and more importantly, I love this stock more! + +Edit 2: I'm overwhelmed by your responses. I got used to the comment section of 9gag that I never thought this kind of community exists. 😅❤ +I live in a coastal town where homes are exorbitant, between 500k and 2 mil. However, there are a few pieces of land that I could afford. I’m wondering if this would be a good investment strategy. + +My friend and I have talked about investing in a larger lot together. Our hope is to build a home and potentially add a small short term rental for the summers when people are vacationing. + +Any advice in this arena is so appreciated—I’ve been wanting to dip into real estate for a while and hoping this might be my chance to start! Thanks +I don't care if its 1 share, anytime I see how long they wait I almost fucking break down a bit and think, these fucking guys are dedicated as hell. I just want to salute our international apes and let you guys know, we appreciate you and I hope after MOASS we can all fly to each others private islands and talk about how we used to buy shares and skip meals. + +&#x200B; + +Have a good weekend everyone. +I've been trying to wrap my head around the difference between leverages but it really confuses me, I see many people saying that using a higher leverage will blow your account quickly, but looking at it, it seems that even though using a higher leverage will risk more money, you use less margin, so using 1:1000 compared to using 1:500 will use /2 less margin but will risk more money, and 1:500 makes money slower than 1:1000, I use a martingale technique using the rsi, so I'm not sure which one is best, sorry I'm really confused, any help +Hi everyone, ive spent the past 4 years manually backtesting technical pattern strategies, mainly to find a way out from my sad life. + +I profit at average 9-10% a week trading around 5 strategies, and 35 patterns within them.. i use kelly criterion for my betting size.. + +All patterns and strategies are self made and unique +What i have is extremly profitable. + +Im looking for a person that is able to fund me\give me place to stay and in that helping me to escape my manipulative brother/mother (i work in their company but get almost no pay, they keep saying it goes in the family) + +I can provide proof, and trade for 4 weeks to prove my results. + +Sincerly. + +EDIT: Here are my results from yesterday, ive essentially doubled up on my kelly criterion betting size..hoping i can make around 10k by june.. and finally move out. http://imgur.com/a/uwJ9c + +**UPDATE**: Ive come to agreement and a deal with a friendly soul here on reddit, if he is ok with it.. i will put up a Myfxbook link and you can follow my path to live of forex full time. +Hello traders +I have been trading with small account for 3-4 years now . And I am just able to even out without much profits most of my trades are placed correctly and but I tend to lose the trade dure to tight stop loss .normally I put 1:1 profit loss ratio 5 pips: 5 pips +Please give me better ideas +I understand its a big risk, which is why I don't want to put £1000 in straight away. Is it possible to start with day £20, and see small profits? + +I've been practicing with Trading 212 and find it crazy how quickly the prices go up and down. + + Cheers +I seriously can't comprehend how some of these kids that are younger than me (I am only 24) have traded forex when they were working and McDons and now are super super rich. I have seen some of their YouTube videos as well as interviews and it is real from what I have seen. They are real people that are rich as hell. + + +I guess my biggest question is HOW? +I have aprox. $1,500 personal cash in an account to trade with. +I can only purchase so many units or lots because of my margin of $1,500 +I just can't seem to grasp how these kids made it BIG when they couldn't have had any more than a couple grade MAYBE. (That's pushing it) + +Realistically with trading I plan to get better and better and slowly increase the total amount of money I earn to hopefully one day be able to trade forex and not have to work a full time job. + +This is my biggest goal of all time right now. +I want to live a simple life as I do now without having to work so I can spend all my time with friends/family. + +Anyway not to get side tracked. + +Am I missing something? +How are these kids making bank? + +Hopefully someone could clear the air here :) + +Recently came across this video: https://www.youtube.com/watch?v=EZdBzFcvwQY + +It's pretty long, but first 15-20 minutes will suffice. For those not interested in watching, here's the gist of it: + +The author of the video goes over a forex chart (EURUSD pair) and analyzes it with various TA tools. Trend lines, Channels, Fibs, Candlestick pattern, Support/Resistance, Psychological levels, Oscillators (MACD), you name it. The price movements seem to obey most of these tools. Nothing seemed out of the ordinary to me until he reveals that the chart is actually completely random! He generated the data out of excel (shows the spreadsheet and how). + +I was very surprised, mainly because I could not distinguish a randomly generated chart vs an actual forex chart. I was completely in the dark until he revealed that it was totally random. And if I cannot distinguish between the two, then, at least for me, they are the same. + + +Wondering what are your thoughts/opinions on this? + + +P.S. I'm a stock trader, not forex, but the same could be said/applied to stocks. +Hy, I’m a guy of 19 years old and I write this to ask to the people with some experience in trading how can I be good at trading. + +My level of experience is not as good but not so bad. I know the basic like the importance of psychology, money management, the importance to setting a good risk reward and the consequence of back testing and having a percentage that can make money in the long run with a risk management of 1: 1/5. and other stuff that don’t blow up my account immediately but I think that those knowledges are not good enough and I want to know what steps do I have to be very secure in trading. + +In essence, I want ask to experienced traders what is the “road” to become very secure in this profession. + +Thanks for the attention. + +(sorry for the English, I’m from Italy) +I mean Ive seen alot of ideas and goals people set for themselves, some are really out there with huge % gains and some really stupid ones with 20% annualy. I think people dont have the right idea what to expect. You cant compare trading to investing and people often use arguments that Buffet takes around 20% annualy. +But huge difference is imo that he is not active trader, and people are affraid to set goals at around 5-10% a month. its not crazy to think like that. If you invest 10k you will be taking 500-1k a month, with compouning you can make quite alot. also the second stupid thing people say you would be billionaire in few years with that % on monthly basis with compounding but that is also really stupid to think because psychology change with huge amounts of cash. +when you start trading with at least 100k you can look at 20-30% annualy, because its not the same as trading with 10k. +Iam starting my journey with 10k soon enough and i believe i will make it to 100k in around 5 yrs, with active trading and looking at this as a serious business and full time job, i dont think its unreal to expect these returns. +Iam not starting as a noob, ive blown few accs, and developed a decent trading strategy that is at least 50-60% accurate, with this in mind and with RR set between 1.5-3 i believe its possible to grow 10k acc in 5 yrs close to 100k. +Also i will try to compound monthly and only take out maybe small % out just to build some kind of cushion. +Let me know your experiences and plans with trading, lets have a nice conversation a share some ideas. +cheers +Ok so i'm new to forex so please go easy on me. As I understand it, us retail traders only ever interact with the market through market orders - i.e. we take liquidity from market making brokers or banks in the case of ECN brokers. However, what if I have a strategy that requires market making to be profitable (HF comes to mind). Is there any way at all a retail trader can provide liquidity by submitting real limit orders as opposed to the 'place a market order when price reaches x' type limit orders. I'm guessing the answer to that question is no. In that case, what is the easiest way to provide liquidity in the market short of becoming a giant bank? +I was telling my lil bro about Forex and he downloaded the MT4 app. All he does is trade off the tick charts and immediately checks if his numbers are blue or red. Then I realized that I did that too for a whole week when I first started trading.. +I'm trying to start paying more attention to price action and trends and less to indicators. Would anyone talk about EUR/GBP H1 chart the last 24 hours or so? Three bullish candles to the same level, rejected each time over the next six hours or so. Is that strong resistance/reversal? Or a breakout forming? Or just a wild guess either way? +Hi, I've been saving up money ever since I started working at a nearby cinema 3 months ago. I've managed to save about $3000 and I'm willing to invest them in the forex market. I've been trading a demo account for over 3 months, so I have enough experience at least to get me started. My question is, are $3000 enough or do I have to save more? With $3000, I'm thinking, I'll be using technical analysis with a good 2% risk per trade. The risk to reward ratio is 1:1 most of the time, but of course, I always try to let my profits run. 1:1 could become 1:5 on a single trade with the use of a trailing stop. So overall, is this a good start? +Thanks... +Majority online posts and forums claim that the EURUSD is the most active and traded pair when it comes to Forex. But is it really true? +Looking at pairs like the GBPNZD for instance, the daily ranges can be 500 points to a 1000 points. Where the EURUSD averages 300 points to 500 points when it comes to daily ranges. +So what am I missing here? + +Also what tickles my mind is why the spread of the EURUSD is up to 10 times smaller than other pairs? What makes the EURUSD so special? +I would have thought that if there is more movement like in the GPB or JPY OR USD pairs, that there would be less spreads involved because of more volume and liquidity flowing. But it is the other way around it seems. +It's fairly well know that currencies react to macroeconomic news, however something I've not been able to find much about is which other types of breaking news they react to, such as terrorist attacks, political comments, and natural disasters. + +Other than macroeconomic news, what other types of news do you follow and find useful for forex trading? +Note I'm not asking for advice, but if there any gems of advice then I'm not going to ignore it either :D + +thetrebel, I know you are gonna say buy the dip +Hey guys I am relatively new to trading(about 1 year) I started with the daily chart trading 28 major pairs and I want to make a switch to the hourly chart. Can i get some advice as to how many pairs i should trade and what pairs I should avoid? Because I am having trouble looking at 28 pairs every hour and I dont have enough money to take every single trade setup. + +Thanks +I am in search of some knowledge dealing with off shore brokers, trying to find out if I have been scammed or if what I am dealing with is a legit processes. Any help is greatly appreciated. +I don't know if prices will continue going up (probably they will) but having passed the 2017/2018 crash I strongly recommend to take some profits even if just a little. You will regret if you don't and prices tumble. Now downvote me if you want to. I thought I owned this to the community. +First, I’d like to pay respect to those who share their valuable perspectives within this community. Thank you. + +I’m a 37yr old entrepreneur who recently sold a business. I’m approaching $10mm in combined assets (10% cash, 20% real estate, 70% taxable and retirement funds). + +After years of daydreaming of fire, I’m near my goal which will theoretically secure my family’s future earnings potential at a minimum of $350k per annum (assuming 3.5% swr at $10mm). I’m an entrepreneur with no current income so this secured income is really important. + +So here’s my dilemma. Last year I got excited and put $2 million down on a house that’s currently valued at $5.5mm. The house is financed at a fixed 2.625%, and has even appreciated almost 10% since purchase. + +My concern is that the monthly payments are too high at my current level of fire. They’re around $19k total monthly and $13k if you don’t include principal (the portion I view as “rent”). + +I know this is a silly concern, but I think i overextended as it relates to my early retirement goals. + +If I withdraw 3.5% off the cash and investment funds I currently hold ($8mm), I’ll barely cover housing and life expenses (although $6k goes back into house as principal). + +I’m considering to rent out or sell the house. If I rent out, I can move back in five-seven years when I have a bigger family. If I sell, I’ll have achieved $10mm in liquid assets and be comfortable living off the $350,000 in perpetuity. + +Even with the low cost of financing, I’m confused if selling the house is the right or wrong thing to do. Although it’s appreciating on paper, the monthly cost is slowing me down from achieving my fire goals. + +Curious to hear what others here do would do. + +Keep the house, continue to pay a high monthly expense and sell later hoping it continues to appreciate. Or sell the house and begin Fatfire ASAP. + +Thank you! +My tax guy who did my returns for 20 years recently passed so I’m now in the market for a new tax service provider. Who does everyone use here? Do you guys go for big firms or small local groups? CPA or just “a guy” you know? + +Just trying to get a consensus on who r/fatfire gravitates to in terms of tax prep. Not trying to dodge any taxes either, just pay my fair share while obviously optimizing where possible. Thanks in advance. +When the majority of my income came from how much I worked, I had a very clear model of value of my time. + +But as NW increases and the majority of my income now coming from passive investment returns, the old way of thinking about how to value my own time seems completely obsolete. Obviously from a utility perspective, one can argue with a high enough NW you no longer have to bother with these "is it worth my time vs hiring someone" decisions. But in a weird sense, becoming fatFire made me feel that my value of time is less than before. Does anyone relate to this? +Just saw [this post](https://www.reddit.com/r/politics/comments/9to3r6/forget_the_minimum_wage_lets_have_a_maximum_wage/?st=JO0RS4BN&sh=4ef2c739) today on r/Politics and had to chuckle. + + +Earned wages don't build wealth - solid investments, innovation, and/or compounding interest does. Ironically enough, capping wages is likely to only harm the middle class while further concentrating wealth among the wealthy. + + +Anyone disagree or wish to add insight from their experience? + + + +Hey guys, + +I posted a question today about splurging + +https://www.reddit.com/r/fatFIRE/comments/efgxqh/need_advice_on_splurging_along_the_way/?utm_source=share&utm_medium=ios_app&utm_name=iossmf + + +Some posters mentioned that I should get a car loan at 2% since the average returns are 5%. I have 100K sitting in a money market generating 1.5% return. I did this since it’s safe and I wanted to make sure my money was available during an emergency. + +It seems that I am probably missing the boat and not investing wisely. + +How do you all invest your emergency fund? What’s your rate of return for 2019? + +I appreciate all the input. +Hey AusFinance team! + +I work full time (9-5) in an office, but am looking for a side hustle to supplement my full time income during these uncertain times. I figure, why not have a bit more buffer by topping up my savings and/or also have a bit more money to spend on a holiday/some toys whilst the borders are closed. + +So tell me AusFinance, what's your side hustle? +Couple earning 2 x $80,000 AUD += $63,000 post tax annually individually += $126,000 post tax annually as a couple + +Mortage on a $1M property repayments on with a 10% deposit (Loan = $900,000) + +1% Interest Rate = $2,925 p/month + - $35,100 per year Mortgage + +2% Interest Rate = $3,361 p/month + - $40,332 per year Mortgage + +3% Interest Rate = $3,833 p/month +- $45,999 per year Mortgage + +4% Interest Rate = $4,341 p/month + - $51,832 per year Mortgage +I put a $1k deposit on a $34k car about 8 months ago and delivery date is fast approaching. I'm a software developer on a fairly decent wage and can almost afford to buy the car cash with what I'd budgeted (it's coming early so I'm a little short) + +Ive done some math and whatnot and I'm torn between two ideas: + +- buy the car outright with cash + +- buy the car on the longest loan I can get at the lowest fixed rate I can, betting on the fact that loans are cheap right now (average quoting 4.5% but another dev I know reckons he got like 1.5% because of his wage, I don't believe it.) and hoping that inflation eats the loan to the point I'd barely even be paying interest. then having that money just straight up available for a house deposit or ETFs, 7 years in an ETF will make this worthwhile, surely? + +I only ask because it seems counter-intuitive to borrow money when you can afford the thing but im wondering if the interest cost is more/less than convinience of having my money. +*"The Elder Days are gone. The Middle Days are passing. The Younger Days are beginning."* + +― Saruman the White + +Since most of you degenerates have joined during the middle days of WSB (post 2M), I thought it might be helpful to remind you the stories of some of the OG degenerate legends. + +u/1R0NYMAN, **the master of homeless box spreads** + +['no money at risk'](https://preview.redd.it/21yvujixo9971.png?width=635&format=png&auto=webp&s=a990f594a9a435a6d80e230bb87550ca2a6fe917) + +* Discovered an ancient spell of 'it literally can't go tits up' trading strategy called "The Box Spread", a multi-legged options strategy involving both buying/selling calls and puts at the same time. +* Through his wiseness, he came to the conclusion that Box Spreads, if sold at the right time, can get him credit with 'zero risk' because his blood magic told him so +* Out of all tickers, he chose $UVXY (because why the fuck not? It's not like Volmageddon ever happened). He was confident that he set up a play that would net him a guaranteed total of $38k of riskless profit in 2 years. With the right amount of leverage he could scale this up nicely +* Sold hundreds of Box Spreads on Robinhood using margin and got paid a credit for each box spread. His account went [from $5k of his own money to about $200k worth of risk](https://www.reddit.com/r/wallstreetbets/comments/aeqcvt/i_dont_know_when_to_stop/) +* Proceeded to withdraw $10k in cash, because who woudn't? +* If a Box Spread gets held till expiry it's risk free, but that's not how option selling works because there is always assignment risk...and 1r0nyman completely forgot about that +* To make it worse, Robinhood didn’t pick up on the risk level of his box spread trade and actually echoed back to him that there wasn’t a big amount of risk on the trade. Much like other elders here, 1R0NYMAN found a glitch/cheatcode in Robinhood which ultimately added even more fuel to the fire +* Got assigned short shares, -$58k loss, account closed out. Robinhood banned box spreads after the fiasco and emailed its entire client base about its policy change as a direct result of what happened with 1R0NYMAN + +u/analfarmer2, **the paragon of FDs** + +* analfarmer2, a 19-year-old became the true paragon of how OGs traded FDs back in the elder days. He somehow got access to about $100k in his trading account (described as ‘online biz and margin’) +* His first FD was a $110k bet on $ALGN with 2DTE calls. The company announced a share buyback, and shares rocketed the next day gaining him $180k. His account went to $343k +* A couple of days later our guy dropped $170k on1DTE SPY puts, and again got insanely lucky as the market tanked after a Trump tweet about the Chinese trade embargo. [**His trading account was up another $277k up to $646k**](https://www.reddit.com/r/wallstreetbets/comments/cksrsf/spy_puts_277k_profit_in_1_minute/) +* He took another massive bet the following day, buying $600k worth of SPY calls 1DTE. analfarmer2 sold out of his position at a $500k loss. He made a few more unknown trades and found himself down to $41k +* [**3 days later**](https://www.reddit.com/r/wallstreetbets/comments/co31pq/my_final_yolo_40k_into_cgc_calls_expiring_next/) he bought $40k worth of $CGC calls in anticipation of earnings the following week. This was a more responsible trade -- he had an entire week until expiration, just imagine the possibilities. Earnings were shit, the stock tanked and his FDs were now worthless + +u/ControlTheNarrative, **the wizard of GUH!** + +* ControlTheNarrative was so wise that he managed to discover the 'infinite money cheat code' deeply embedeed into Robinhood's matrix and as a result redefined what some consider to be beyond their Personal Risk Tolerance +* He was so genius and so retarded at the same time that through his Robinhood Gold account he took his leverage level to 25x, well beyond the 2x allowed by RH +* From an inital deposit of $2k (minimum balance to access RH Gold) he bought 100 shares of AMD for $4k or so, with margin. He then sold an AMD Call Contracts with a $2 strike to get almost all his money back. He then used that money to buy TWO hundred shares of AMD because remember, margin doubles the buying power, then he sold 2 Call Contracts witht he same $2 strike price to get almost all his money back, which is then doubled again thanks to Robinhood's Margin +* Robinhood let him buy AMD stock on margin that is collateralized by AMD stock he's already sold. The AMD loop he went through made his buying power go up only because RH was absolutely retardedly (even more so than he was) still counting the AMD stock for his covered calls as part of his margin collateral to buy the options. He rinsed and repeated this process until sufficiently leveraged to his Personal Risk Tolerance (25x leverage) +* Finally, he used his increased buying power to 'maximize' gains by loading up on $AAPL put FDs to bet against Tim Apple on an earnings play. Unfortunately, $AAPL destroyed earnings and blew his account +* To make matters worse, [he recorded the market-open and the instant nuking of his account](https://www.reddit.com/r/wallstreetbets/comments/dpnzup/i_recorded_todays_marketopen_and_the_instant/) + +u/MoonYachts, **the leverageborn** + +* Credit. Debt. Equity. Leverage. Long ago, the four nations lived together in harmony. Then, everything changed when u/MoonYachts attacked. MoonYachts was a disciple of u/ControlTheNarrative. Through his master's teachings, MoonYachts also understood that when selling covered calls on Robinhood and if he bought the shares, the stock wasn't subtracted from the buying power. The cash balance from the covered call got added to his cash balance – increasing the buying power by the premium he took in. +* Only the Fed Chair, master of all four elements, could beat him, but when the world needed him most, he vanished. And although his QE skills were great at the time, he had a lot to learn before he was ready to save anyone. +* So it happened, that MoonYachts' Personal Risk Tolerance was from the netherrealm and not even the Fed Chair could match him at the time. By using the 'infinite money spell', he managed to take his [**Personal Risk Tolerance to 250x leverage (a $1M leveraged position on $4k of initial equity)**](https://www.reddit.com/r/wallstreetbets/comments/drqaro/robinhood_free_money_cheat_works_pretty_well_1/) (on $F stock out of all tickers) +* To this day nobody knows the ending of his adventures, but legend has it that banks still hate him for showing us the spell of infinite leverage +**Overview:** + +Founded in 2012 out of the friendly nation of Canada, [Galway Metals](https://galwaymetalsinc.com/) is engaged in digging deep, getting their hands dirty, and going fully hard on the acquisition and development of sustainable, precious metals. In addition to maintaining a focus on mineral resource management, one of the most financially prudent industries on the market, Galway also reaches around investment concerns to optimize their triple-bottom-line financially, socially, and environmentally. + +Oh, and did I mention their symbol is **GAYMF?** + +**Why YOU Should Get GAYMF** + +In addition to having what may be hands down the most memeable ticker symbol in existence, GAYMF is genuinely positioned with open opportunities to fully take investors. Leveraging an astute eye for extensive shafts, Galway Metals is utilizing Open Pit accessibility to capitalize on natural environmental conditions while minimizing energy and expenses. + +With multiple new partner sites pending, a thirst for new opportunities, and extra heavy assets, GAYMF is not only the right buy, it’s the right buy for your exceptionally broke ass. + +For less than **$0.30 per share**, you can board this pleasantly plebian rocket ship and rest easy knowing you’ve put your money where your supple mouth is and you’re finally among “friends,” flying from your lonely living room to the moon. + +**What To Know Before You YOLO** + +Especially with our current market volatility, there is no such thing as a “sure thing.” That’s why prudent investors rely on financial valuation, risk analysis, and objective memeability to combat the market going soft unpredictably, even though elderly analysts swear that almost never happens. + +Let’s face it, at some point amidst these wild market fluctuations, you may get shafted on a bad trade, but that’s no reason to take a loss lying down! + +**Conclusion: Fully Hard Buy** + +With a bottom line so fine, you could bounce a bitcoin off it and the tastiest ticker sign on this side of the NYSE, GAYMF is a buy so hard you may need to call your doctor if your portfolio is engorged for longer than 4 business days. + +Don’t get caught with your pants down by modern market fluctuations. + Get your assets prepped for proliferation. + Get GAYMF and join the celebration! +I screwed up and over contributed well over my 2022 limit :/ + +According to the CRA agent, 2022 allows $11,679 of contribution room. + +By May, I contributed $11, 830. It’s almost October now and I’m at $18,430. + +I don’t know why it didn’t hit me sooner but for some reason I completely forgot about the limit. Anyway, the market is obviously down right now. And I’m down a couple thousand. + +Selling now would be a bad decision, right? But at the same time, I’m accruing over-contribution fees every month on the extra $6751. + +I’m thinking it’s better to just pay the fee and wait out this year until my limit renews. And of course, not repeat the same mistake next year. + +What do you guys think? I’m new at this stuff and would appreciate some advice. +Does anyone pay or follow these guys ? It's kind a depressing that whenever I'm on Yahoo finance I get those articles from them regarding the best Canadian dividend stocks like the big banks best utilities like FTS and EMA AQN and so on they always end up with a gloomy review and bunch of warnings so I wonder how legit they're and if they're another motley fool. +Thanks +During a discussion on ETFs with a financial planner, I mentioned that I was a fan of Vanguard's asset allocation ETFs. The planner then asked me if I was aware that Vanguard was run like a co-op, rather than iShares and others. I am, of course, aware of how Vanguard is structured as a company but I'm curious why that would matter if similar products between Vanguard and, say, iShares can be compared on the merits of the funds themselves rather than corporate structure. I should have asked the planner then and there but I didn't. + +So, any clue why that should matter? +Hello and thanks to all for their time; + +Stupid question maybe, but why should I buy more than 2-3 super high paying and incredibly stable stocks that consistently deliver top dividend payouts? I understand the need to diversify Growth stock, but why not just select like, the top 3 Dividends Kings in Canada and put all my DRIP money in there? Everywhere I read its diversify diversify diversify, but I don't understand it for Dividend payouts. Why is there even a contest? Enbridge for exemple provides top dividend payouts all the time, since forever, so why not put most of my eggs with them? What is the risk? +When filing income tax, you can deduct interest charges incurred to earn taxable income, e.g. when borrowing to invest in dividend paying stocks as in the Smith Maneuver. + +Will the CRA disallow this if the expected investment earnings are less than the interest expense? + +A higher income person could take a loan at 3% interest, and use that money to issue a spousal loan at 1% interest to the lower income partner. The lower income spouse would use the money to buy dividend stocks. + +The higher income spouse would deduct the 3% interest paid and pay taxes on the 1% interest earned, effectively guaranteeing a 2% net deduction at a higher marginal tax rate. + +The lower income spouse would deduct their 1% interest paid, and pay taxes based on the dividend income, at a lower tax rate. + +I tried looking up this maneuver, but clearly my Google-fu has failed me. I don't think this violates any tax rules, but would appreciate people's thoughts. Even better if someone could link to an authority discussing this. +Looking at something like VT, it has not only underperformed the S&P500, but in this recent downturn, the global diversification hasn't helped at all. Correlations all went to 1, and Ex-US stocks are dumping worse than US equities. VT is down almost 15% YTD, meanwhile VOO is down just under 14%. + +As a Canadian investor it's even worse. ETF's like XEQT (equivalent of VT) are less than 10% away from pre-covid prices, meanwhile SPY is over 15% away from pre-covid prices. + +Holding global market cap weighted ETF's has been brutal. Why should one stick with this strategy? Everything I've seen tells me that European/Asian/Developing markets just don't have the same outlook on equities as the US. They have worse investor protections, more corruption, less transparency. I just don't see the upside to investing outside the US. +On TD, analysts predict TD stock will rise by 17.77% but they only give it an overall buy rating of 8%. + +That doesn't seem to make sense? + +If they think the stock is going to up by 18% in the next 12months wouldn't their buy rating be higher? +Currently I have money invested with robo advisor at WealthSimple Invest and am getting an average of 8% returns which is about average. I feel secure and expect at least this each year. + +But recently I’ve begun to consider picking 4-5 ETF and investing myself. + +VFV, VUN, XEQT… + +Over 5 years 2 of these are averaging 100% returns with the other 50%. + +What am I missing? Why would this not be a better choice than leaving it within WS invest and get an 8% return? + +Are there my costs with DIY that I’m not aware of? + +Thanks. +https://www.nytimes.com/2019/05/31/your-money/donor-advised-funds-charitable-giving-lawsuit.html + +I have seen quite a few posters in this sub mention and recommend donor advised funds as an effective vehicle for tax-efficient charitable giving. The situation in the linked article is an example of where DAF-based giving doesn't go as smoothly as pitched. + +Long story short, a VC donated $100mm in WATT stock (making up almost 10% of the companies outstanding shares) to Fidelity's DAF under the stipulation, given in writing, that Fidelity would sell it off over time so as to avoid impacting the share price. Instead, Fidelity dumped the entire thing in one day, in the process driving the share price down 30%, lowering the value of the donation and transitively the tax deduction garnered from it. When the client went back to try and understand what happened, Fidelity stonewalled. + +While DAFs look good on a spreadsheet, a DAF run by a firm that invests donations (or the proceeds of them) in their own funds should be scrutinized very critically. That was my reaction, anyways. You can read the actual lawsuit here, it is fairly short and rather interesting: + +https://int.nyt.com/data/documenthelper/1053-fairbairn-lawsuit/518525d508bd1c45bc9c/optimized/full.pdf#page=1 +I have a net worth of $7.9M mostly from stock gains. Never hired a financial advisor for help. Have $5M umbrella insurance just in case. + +* US stocks diversified: $2.4M (ETFs and single stock investments) +* Pre-tax 401K: $3.1M (Mostly US stocks with half in US growth and half in S&P 500 like fund. Also $200K in fixed income and $200K in an international fund.) +* Mutual Funds (US Equities): $100K +* Cash: $975K +* Primary Home: $950K +* Real Estate Investment: $300K +* Cars: $50K +* Gold: $10K + +Goal is to get more into real estate. I'm fine with being aggressive in the allocation as I feel I can weather any major dip. + +Would you change anything from this current asset allocation? Anything else I should do knowing I have this kind of money? + +Also, any tips on lowering tax liability? + +&#x200B; + +Edit: Age: 56 +Mom is currently 64 and works as an accountant with a salary around $55k. + +Here's her financial snapshot: +Savings -$15k, 403b - $53k, Traditional IRA - $8k, Inheritance (paid in 2022) after tax - $45k, Paid off house and car + +Her expenses are about $2000-2500 a month because she lives alone and basically just works and digs in her garden. She doesn't mind working longer than 65 but she really doesn't like her job. + +My goal is to be able to structure her finances to where she can retire whenever she feels like it after 65 and be comfortable (including extra expenses for hobbies that fill her new free time). I'm 31, starting a 6 figure job soon and am planning on dedicating about $1500 of my income a month for the next couple years to help her save for retirement. She will have between $1300-$1700 per month in social security benefits, depending on whether she retires at 65 or 67. + +How would you allocate the money she has, plus what I'm contributing, in short and longer term accounts to make sure she has atleast $3500 in income per month starting around the end of 2022 and growing with inflation? + +I really don't care about getting an inheritance from the money when she passes. I just want her to be comfortable and not have to worry about money. + +For clarification, she doesn't have a financial advisor. I am savvy with my own finances, but am not against her ultimately using an advisor like Edward Jones. + +Thanks in advance! +So I have $35k in my savings account and I'm trying to figure out what I should do with it. Im going to keep some in savings(maybe $5k). I already have an IRA for retirement and a long term investments account that I pay into every month from my checking account. I dont plan on buying a house or car anytime soon. How should I wisely invest? +I’m new to economics and I’m realizing people have quite different theories on how money works, for instance, how money is created, the money multiplier and so on. I stumbled across a video from Richard Warner saying there’s 3 theories of banking, *financial intermediation, fractional reserve, credit creation*. Are these really the main schools of thought, and, while I don’t expect anything close to a full explanation, could someone summarize these views briefly? Is there a view most economists agree on? Is the money multiplier idea bs? (I saw a video saying it was outdated) + +From my noobish perspective, it seems some people think money can be created from nothing through banks and/or governments, and others think money is sharply tied to commodities/assets. Is this at all true? + +How can I learn more about different schools of thought around how money works? Thanks in advance! +I'm on track to retire in about 10 years with little to no debt (maybe a year or two left on the mortgage) and a layer of income options to draw from.(457, Roth, pension, stocks) Money is so cheap and getting cheaper to borrow. I still have earning years ahead of me and a low DTI. Should I take on debt to yield higher returns or stay the course. + +Thanks! +I had a financial advisor but after learning a lot I want to do it myself and just buy vt and VTI. It’s about 30k of course at a loss right now and he has a bunch of small cap and some large cap funds but was wondering what y’all’s thoughts were on selling it all and switching over. It is at a loss so maybe a good thing for capital gains for a while??? Any help is appreciated + +Edit his holdings are iusg iusv vtwo vea and vwo +Hi friends- I recently started a new job after spending the past 3 months unemployed. The job pays pretty well (especially considering that I’ve had no income for so long) and I’m looking for some tips on how to set myself up for success financially. I’ve gotten used to living with little and don’t mind continuing to do so for a while if it will help me in the long run. My debts include student loans and my car payment. Anyone been in this position before that has any advice? +My portfolio is about 70% NVDA, 30% AMD with a value just under $600k. It grew fast and now I want to derisk and diversify a bit. I just found SPYD which is S&P500 high dividends ETF. + +If I bought $500k worth of this SPYD at approx $41/share I would have 12,195 shares. TD shows the annual dividend as $2.27/5.56%. 12,195 x $2.27 = $27,682.93 Annually. + +I could be making this annually??? Just park it there and bam, $27k annually? What's the catch I'm not understanding? I get a very very small dividend from nvda but it's like $27 a quarter. Nowhere near the $27k annual that I'm coming up with SPYD. +I just started my first government job and I was looking at my contributions. The nice thing is the government is very generous when they are funded by tax $$$ lol. Unfortunately, I don't get my TSP at all. + +I've had IRAs where I can pick individual stocks. I've had 401ks were I have several dozen plans to choose from. AND, those plans have detailed information on the portfolio of each plan. With a TSP, I just get a list of letters. Do I want a G plan or a F plan or a L-2040 plan or.... ugggh. And, yeah, I get that find out they stand for things like global market fund or government bond fund or whatever. But, that's about it. I can't seem to figure out what individual stocks they hold and that's kinda weird for me. + +I understand the fund managers are probably educated and likely do better than some random redditor. I'm not saying I can do better. BUT, I manage my other portfolios! I like to see what it actually is! This isn't much of a question. Just a bit of a vent lol. There is a lot of comfort in knowing where your money is! +Hey, hi. My name is Lucas and I'm working as a junior web developer. I'm fresh out of college and I don't have any money. + +I'm really good at saving, and I'm thinking I'll be coming across more money now that I can work with a degree. The thing is I hate working and I'd like to maximize my savings. + +How do I get started? I already have a few bucks in some low-risk-low-return government funds, but I really want the knowledge I need to have to make riskier investments over time, maybe investing in private funds or even stocks if I get the cash! + +So, can you guys suggest where I could learn this stuff? Maybe some books, videos, articles, I don't know. I'm clueless! Thanks +TL;DR "What will I remember when I'm 80?" + +That smoothie? That take-out? Nope. A flight to Vietnam to see my friend? Yup. I did that and it was worth it. + +I also use the same question when something horribly embarrassing happens. Sometimes I panic for messing up silly stuff, like locking myself out or ruining a wooden floor by spilling a drink. What will I think of this when I'm 80? Hell, I won't remember it by the time I'm 40! + +Some events can feel small, like a deadline slipping... What's a day sooner or later? Hey... that deadline can affect my reputation as a freelancer and that reputation is the foundation for the rest of my career. Hella important by the time I have parchment skin! + +And then there's daily life... for example, will I remember what I read during my Reddit browsing? ehh... + +Here's a tricky one: + +Will I remember this board game I'm about to play with my husband? No. + +But spending time with him and maintaining our relationship will always be important. Yet this question is a reminder to build more memories - break the routine so this day stands out. Like when we went to feed and pet horses in Belgium. Cost? $2 for carrots. He still thinks of it fondly. :) + +When you look at my daily life, my budget is all weird - almost no money spent on clothes or food, no cellphone plan, actually barely any possessions at all. But then you see me make impulse decisions of $1k that only make sense from this perspective - + +**"How important is this moment when I'm 80 years old?"** + +I hope this is inspiring to some of you folks! I'm sure a bunch of you already did this, or used a similar reflection. + +***Edit: I'll work on rewriting this, because from the comments it seems most people either get hung up on the examples or misunderstand what I'm saying as dissing small joys...*** + + +Im asking this question here because I think I may find a more informative less biased answer than other subs. Thanks for any feedback! + +More info + +https://www.youtube.com/watch?v=h1Lfd1aB9YI&feature=youtu.be +Throwaway for obvious reasons. + +So back in July I worked ajob where my boss was actually very shitty towards me in the workplace, gave my paychecks a month late, shit like that. Long story short I realized I was in a toxic work environment and quit without notice. The president of the company pays me, and then texts me to drop his number and email, so clearly me means "Don't talk to me again." When I started working I gave the president of the company my I-9 form, of which he wanted sent by email, which I was suspicious of, I don't like the idea of sending highly sensitive documents over email, so I encrypted the document and sent him the key by text. + +So fast forward to today, I get a text from him asking my SSN (I reiterate **over text or email**) and my address so he can file my taxes (1099). This is the same guy who months ago demanded I drop his number and email and is now asking for my most valuable info. + +Long story short, I'm not giving him my SSN and Address since I simply don't trust him, I believe he is both malicious and careless and don't want him with such information. Though I don't want to be in any bad standing with the IRS, especially since I made less than $3K through the course of the financial year. I have reserve cash in a savings just in case the IRS asks for their cut (I was payed as a contractor without explicitly being told I am a contractor......). Do I just do nothing? I was told that since he doesn't have my SSN or Address he can't report it to the IRS (He does have my first and last name though). I'm not sure how to handle this situation, help pls? Thanks /r/personalfinance + +Edit: Spelling + Grammar + +UPDATE: So I have realized there are four basic responses here: + +* Give him my SSN based on a text and email - Fuck that, all who are **complaining** why I don't do that, you clearly haven't read my original post. + +* Use another method to give my SSN- While I appreciate the suggestions, understand I quit his job on less than friendly terms after being treated like dogshit, I assume they like me even less than when they were treating me like shit. I no longer trust him with that information, especially since he so carelessly lost my form I provided in the first place (which I have documented) + + +* Create and give an EIN number - This is actually a really good idea I hadn't considered exploring till you guys pointed it out. It's a really good middle of the road idea in my opinion but I think I will... + +* Report my income without giving that boss my SSN and without the 1099- I complied my end of the deal, and **he never requested a w4 and he failed to inform me I am a contractor both verbally and in writing** in other words, not my problem, I have enough evidence if the IRS threatens to break my kneecaps that he failed to comply and that I have complied when I sent him my I-9. I'll let him and the IRS figure out the details, I remind you that **he failed to inform me I am working as a contractor and I am required to submit certain forms since he said I am part time, nor did he ever request a W-4**. This is my choice!!! Oh also there was never a contract signed. So besides an I-9, a paycheck, and a few emails, there is no other proof I even worked there. + +And let's get something straight, **DON'T SEND YOUR SSN OVER A TEXT MESSAGE.... EVER.... TO ANYONE....PERIOD.** It is the most insecure method of sending such sensitive information. Anyone who was seriously suggesting this, please, shut the fuck up. You are not helping anyone spreading such destructive instructions that could potentially ruin people's lives. I've worked IT/Engineering I know how this shit works, text data is unencrypted. + +Let this be a lesson to all those who are in my situation, don't take any abuse just because someone was your employer. Comply with your local laws, but document everything. If you're in in a situation like I am, call the IRS hotline and explain your situation. You always want to make sure your ass is covered, and from the looks of it, it's pretty covered. + +I truly appreciate the discussions surrounding my issue though, 300 comments later, it's pretty obvious that this is an issue that has multiple solutions and there's clearly no one size fits all soluition. +There is one thing that won't change no matter how many bitcoins you have or how much it soars: your health. It is about time that you start exercising, doing yoga/meditation, going out more, eating better food, having better posture, being joyful all the time, overall just being a casual easygoing person. You need to shed the weight of the millions/billions/trillions you carry, IMHO. + +EDIT: To explain further, it isn't the first time that people have become fabulously rich in such a short time. All throughout history people have found fortunes virtually overnight. And almost always, they end up worse than they were before. Learn from history my dudes. You can only enjoy your wealth to the extent your body allows it. So, keeping your body in the best possible position should be the no. 1 priority right now, not whether bitcoin is going to hit $100K or $1 mil, IMHO. +He's asking for the check back now that he has back out of the sale, but I've told him since he's committed to buying, I've taken down the ad and denied multiple sales requests. Is it okay for me to keep the $100 check he's given me? or am I legally obligated to give it back? + +Edit: I turned 4 potential sales away and took the ad down. The only reason he changed his mind is because he originally thought it would tow his boat but now he thinks it will not. +So I work in the finance industry, tech related. + +I know that my present company has been going through downsizing issues, and attrition for the past few years. + +However, we are going in the right direction strategy wise, and I like who I am working with. + +I just received a decent job offer working with what I like. The role is: “meh”, but the pay is great. 40% more than what I am making now after bonuses are applied. + +The question is, how should I break this to my management? Do I need to provide them with the offer letter or something? Should I let them counter? + +This is the first time I have been in this predicament. And a main factor is I want to keep working remotely. + +Edit: wow. This blew up. +More clarifications. I have two more jobs interviews going on at the same time. I’ve alerted both that I have an offer as well. Already past the first round with both. + +Edit 2. My current role doesn’t go up to that salary range. + +Edit 3. If I am laid off, I could get a decent severance package. + +Edit 4. New position doesn’t have matching 401K, but unlimited PTO +Bitcoin is uncensorable, non confiscatable hard money without a central bank. We are finally focused on the non confiscatable aspects of Bitcoin and I love it! + +Look, I think the Bitcoin narrative as an inflation hedge and as an institutional asset is great, especially during the massive monetary expansion that happened in 2020. But the number go up narrative is FUCKING BORING! Bitcoin is NOT a tame lion, kissing the ass of all these big institutions with the hopes of buying our bags in not in line with the Bitcoin brand. Bitcoin is a counter culture movement and the last 2 years we've turned into a pro-establishment movement. Kissing the ass of all these Black Rock ESG cucks and trying to onboard all the corporates makes me puke. + +The Canadian Truckers is making Bitcoin fun for me again, and I hope we continue promoting the other aspects of Bitcoin other than just number go up. +My husband and I have been working really hard to avoid adding to our debt after paying off all of the debt we had last year. We are getting by each week with a couple dollars to spare, but so far we have only had to carry a balance of $250 or so on my credit card due to me needing new eye glasses recently. I'm proud of that, It's taken so much sweat and tears for us to get here. I stress about us staying with our heads above water all the time, I don't want to go back to how it was. And so of course I'm driving down the road today going to my eye doctor, and all of a sudden there is a broken tree branch smashing the car in front of me and then bouncing up and crashing down on top of my car next. It smashed my headlight out, luckily it missed my windshield and I was able to maintain control of the car. But the fact that a tree branch was just dangling over the road off of a fence, smashing cars as it gets knocked around, is infuriating. I keep trying to think "it could have been worse", because it really could have been, but I just want to scream and cry and kick because now I need to buy a new headlight and I don't have any way to do that but put it on my credit card. It's like every time I am able to take a breath I feel like I get yanked back under the waters surface. +I mean I always knew "not your keys, not your coins" was a fact, but after learning that anything you have on these exchanges is not yours, and in the unfortunate event that they go bankrupt your coins are gone forever is actually in their terms of service is fucking down right scary! + +All of this crap has got me interested in a cold storage system, and I've been veering more towards a paper wallet system, but I am interested in learning more about hardware wallets as well, the only thing I freak out about is the battery dying in it, what happens then? Also, could I have multiple hardware wallets with the same keys on them as backups? + +Please advise, because I'd rather take the chance of me fucking something up managing my own coins, then letting these cock suckers walk away untouched if they go tits up. + +Also, if you are interested in watching the Wall Street Journal video I just watched that highlights the terms of service of Coinbase and Celsius, I will link it below in text form with a space in the https: part: + +https: //youtu.be/OJMR-0AGiDA +Thought I'd continue the weekly auction thread. I've seen a house getting passed in last week because the highest bid was >100k less than another house down the street that sold a week earlier. + +Could be a sign of a market cooling off or just an outlier. +How long have you held this belief, and how much have prices increased (or decreased) since you first formed it? Under what conditions will you admit defeat or change your mind? I ask this as an interested and reformed ex-bubble burster who eventually bit the bullet and bought property. +Hi all, + +Curious as to what you'd do in this situation. + + +Current Salary: 27.5k. +Benefits: ~1k discount on travel/holidays + + +Job I applied for Salary: 40-50k +Benefits: Possible 10% Bonus, work from home up to 2 days a week. +Reductions: No holiday discount, ~2k more travel cost (roughly the same travel) + + +Job Offer I recieved: 35k, Possible 10% Bonus, work from home up to 2 days a week. + + +Overall this comes to a pay increase of 4.5k-8k. + +I feel like I was misled about the salary offered and I feel like I would resent this company if I accepted the offer. +I'm annoyed that I did not even get offered a salary in the range they were offering, and the reason given was that they thought they'd need to attract people to travel in from London. I understand this but I do not think it makes a difference. +On the phone call I already explained this and said I would accept 40k. + +Job Spec wise I have (and have evidence in my current role of) everything they were looking for in an applicant (apart from apparently living in London). + +What would you guys do? Accept/counter again? Walk away? + + +EDIT: Got an email from the recruiter (who for some reason left me to negotiate salary) saying that they were expecting someone with more experience, which is why they offered me less, despite them telling me they don't require industry experience. + + +Thanks all +I've just looked in to how much my student loan is costing me - I'm on track to pay off my student loan in 16 years - **I will have paid 38k interest on a 39k loan**! + +Does anyone have any suggestions for how to minimise the interest I repay e.g. extra monthly repayments? Getting a second loan out at a lower interest rate (6% on the student loan at the moment) to pay down some of the principal? I'm doubtful whether getting a second loan out is even an option as my credit score isn't great (no credit card and no credit history + lots of moving addresses). + +I want to know what my options are for maximising long term wealth considering my alternative to making extra repayments is investing in the stock market (so let's assume 7% annual return). + +Are there are any novel financial products that exist in the UK that I could leverage? +Let's not forget the CFTC refuses to report data on swaps immediately after we discovered them back in August until October of 2023. This is not a coincidence and no one seems to be talking about it. Can we get a # or something trending calling them out and bring attention to them again so maybe we can see what is going on? +I make $15/hr and live in Chicago, the average rent for a one bedroom or studio is around $800. After paying bills I'm left with very little and cant save. What do you do in this situation? Barely scraping by is a painful existence. + +Is this the case for anyone else? How much do you make/spend a month? Do you have any tips or advice for single people trying to survive? +k thx bye + +edit: here is a link: +http://www.americanbanker.com/news/bank-technology/rand-paul-chides-naysayers-who-want-to-regulate-bitcoin-1073906-1.html + +Here is an article about his flat tax plan, which would eliminate capital gains taxes for individuals, but keep them for businesses: +http://money.cnn.com/2014/03/31/pf/taxes/rand-paul-flat-tax/ +I’ve been thinking (and reading) about Emergency Funds over the last week or so and haven’t seen much talk about the requirement to have a large (9 months of expenses plus) EF. + +Normally the question is “how much should I put in” and the standard answer seems to be 3-6 months. Sometimes 9. However I’ve been thinking about this and can’t see why the default standard shouldn’t be more, ie 12 months. + +Emergencies are surprises, and the EF provides for those surprises. Fine. But what about 2 surprises at once? Or 3? So often in my life, when it rains it pours. When one bad thing happens, something else does too. + +An EF should therefore account for this, no? I think it’s OK to think of “blocks” of EFs being 3 months of expenses, but what I’m currently thinking is that we should have 3 or 4 of these “blocks” to account for 3/4 surprises at once. + +Am I wrong here? I currently have a EF of about 6 months of expenses, so I’m fully on board with the concept. But I’m seriously considering doubling it over the next 12 months, given my new train of thought. + +TL;DR: why isn’t a 12 month emergency fund necessary when multiple emergencies can happen at once; won’t a 3 month EF be soaked up by Emergency 1, leaving nothing for Emergency 2? +When BTC reaches 100k I will have enough money to live off 4% for the rest of my life. (I will reinvest everything it in stocks/etf/real estate) + +Sure, I think BTC will go higher but at this point it becomes a gamble for me. At this point I have nothing really more to win but everything to lose. So, selling is the only logical conclusion for me. +I am a dog owner and lover so I sympathize with people looking for a home that allows dogs. Are dogs really capable of that much damage to the house? I guess it would depend on the dog. I may be wrong but I feel a fairly well behaved dog and a responsible owner isn't going to cause much damage. Also allowing pets does set you apart from other rentals. Would it make sense to charge an extra $50/$100 month if they have a pet? What do you do in regards to pets? Any past experience with allowing pets and regretting it? +I’ve had 6 SFH rentals. My first duplex. + +Simple numbers: two 2/1s asking for $95k will get it a little cheaper. Looking at $40k rehab. Will rent $800 each side. + +Anything I need to know that’s atypical in duplex vs SFH? + +Thanks +So I have been debating moving from my house we bought and renting it out while we move into an apartment. My thoughts are that I can build equity and cashflow $2-300 per month renting out my house and use my business to pay for repairs and be able to write them off. However, I would be dumping out $800-1200 a month in rent and seems like I could use that money to be investing in another rental or stocks of some sort. What am I missing? Does anyone have any advice? TIA! +There’s a piece of land on a street I own a 2 family on that’s also zoned for a duplex. It’s been for sale for awhile but the owners want too much for what the rent roll would be. Asking $85k for land alone (2-3br’s would get about $1900 each ). + +I am trying to think of any way to make this piece of land inside an opportunity zone work. + +Has anyone ever paired up with say a non profit or gotten any kind of grant money to build something? No one is obviously able to make this land work or else it would have sold already. I was just thinking maybe I could pair up with an organization that houses mentally challenged People or some other group like that and contract the property out to them in order to make the construction costs viable. + +Any stories similar to that where outside the box strategies were required to make a property work are appreciated Thanks. +There was a recent thread that got locked, my comment was about how the deal was structured win-win for all the parties. There was many who disagreed with my comment because the seller could've possibly netted $10k more on top of $385k (2.6%). This thread is mostly directed to new real estate investors as most seasoned investors will understand this. + + +Story time - I bought a condo on December 28, 2020 and had been built in 1979 with no improvements done since then. Bathroom, kitchen, and laundry were original. So I renovated the condo in full. New kitchen, bath, appliances, laundry, and I added a bathroom. Plus flooring, paint, electric panel and fixtures. The construction was mostly complete by early April with cabinets scheduled for delivery for about the same time. Well it turns out (supposedly, not sure I believed them) my cabinets were in the Suez Canal when that ship thing happened and I was given a new date - July. + + +I was ready to install cabinets, and granite counters about 3 weeks later. The counter people in our area need that 3 weeks to template and manufacture them, that's normal. My agent didn't want to put in MLS without the countertops installed. + + +So instead of having the counters installed and pictures taken mid to late April, I was looking at late July. There goes holding costs up, up, and up. So I ordered different cabinets and went with a local cabinet, but all of this was going to significantly delay the project. + + +Meanwhile, my agent took a single buyer through, it was not on the MLS. My market is crazy good/high right now. So they basically made me a very good offer and were willing to close 1 week after the counters were installed. They did this without the cabinets installed. + + +I was confronted with a choice. Most likely a sale would take 6-8 weeks after the countertops are installed. However, putting it on the MLS may result in an even more insane number. + + +My choice became: + +1. Take a very good number and have a very likely closing one week after countertops OR +2. Expose to the MLS and possibly drive number even higher but take 6-8 weeks longer. It could have taken my margin from 24% to high 30%'s. (I didn't leverage the deal). + +I went with #1 because time is money. This project is off my plate, freeing up my time and capital to do another project. It also eliminates the risk that the market will turn less frothy/interest rates rise and my holding costs. I was also very happy with my profit. I mean of course we always want to make more, but I am not one to look a gift horse in the mouth. + + +I could tell this story over and over again, but this is a lesson I hope the less experienced amongst us can learn from. +I guess because I’m online reading about real estate my Facebook shows me a lot of ads with people trying to sell me info on their system of investing. People I’ve never heard of. Probably just regular people who’ve had some good success since ‘08. And now they’re trying to diversify out of real estate somewhat. Why? Because of the bubble? + +Kinda made me think of an antidote I’d heard about someone saying when their barber was giving him tech stock advice, he knew the crash was coming. I assume because it was so speculative, in the same vein as bitcoin. Is real estate similar? + +Is it market dependent? I’m in a hot area, but it seems to me a lot of people are getting involved or want to get involved in real estate. Makes me think of the barber and question if I’m him! Only have a few properties, only been in the game a few years. + +Any thoughts or feedback welcome + + + + +So I know that the VAST majority of people in this sub are trying to retire as early as sanely possible, or simply build a comfortable nest egg so they won't have to worry about money. + +But is anyone on here envisioning retiring with more than 10 million? Does anyone here want to live a life of luxury and the opportunity to live a solidly upper-class lifestyle? Does anyone use FIRE financial principles to continue going once you've reached FI? Is anyone here pursuing FI so they can take the risks that can push them into the superrich? + +If so, how do you envision pursuing this goal? Where do you see yourself when your old? What's your FIRE number? + +I hope this doesn't get downvoted. I know that this is orthogonal and un-orthodox for this sub. There is nothing wrong with wanting to FIRE as early as possible, or living a middle-class lifestyle. I'm just wondering if anyone fits in the above criteria. +First of all I think this sub Reddit is great, some really good information on offer to people of all types. + +To be upfront I'm a qualified and practising IFA, but nearly half the age of the average adviser. I've got maybe 30 years left of working in the industry until retirement, which in my opinion has predominantly been very old fashioned, manually done, and I feel is likely to need to change massively in the future to keep up with what people need and want. + +I know I am likely to get some biased opinions on here as this is a personal finance board. But I'm really interested to hear people's thoughts and opinions on Financial Advisers and Advice in general, or even opinions of people you know if it's even been brought up? +I took a 4 month break from crypto and when I returned almost all are down except for ETH and BTC. It’s also that during that time I realized there are other better things I can do than to follow each movement of my alts daily. + + +So moving forward it’s just alternate DCA for these two. I won’t be selling my altcoins either as it’s not wise for me to sell them at these losses and I don’t really need the fiat. + + +PS. I’m not saying altcoins are a bad investment for everyone else. Just don’t lose yourself and too much time in it chasing that 100x. + + +Cheers to those who are still here. + I know, there are a lot of posts like this and mine doesn't stand out compared to the others. + +Nobody enjoys when the market crashes, but I just want to say that this is the time when serious investors are entering with a lot of money. + +Of course, we all know that this is a very volatile market and that in a few days the price may fall even lower, but that is why there is DCA. + +In any case, I have an opinion that it is not necessary to invest your sum of money at once, but to spread it over a certain period of time. + +Honestly, I'm not too worried about prices dropping, I think that this is a technology that will keep on living, but with projects that have a real world use. + +Cheers and good luck to all. +This is in reference about this [post](https://np.reddit.com/r/CryptoCurrency/comments/ss8ohv/hacker_couldve_printed_unlimited_ether_but_chose/) which is trending pretty hard right now - looking through the comment section I see that a terrible amount of people did NOT read the article and also not noticed the quotation marks around "Ether" - even though the headline is still a misleading in my opinion. + +To make this clear; This bug was not found on layer 1, it was a second layer, called "[Optimism](https://www.optimism.io)". And therefore this could not have been used to print unlimited Ether. + +If something like this happens on a second layer - you can have unlimited Ether on it. But as soon as you try to convert back to layer 1, at some point the locked ETH will be fully drained. If it's not already noticed by then, now everyone will see this layer is broken, and it will simply collapse. Basically all ETH locked on that layer 2 project is possibly lost to the hacker - however no real damage is done to the main chain, at least in terms of blockchain integrity. + +**tl;dr: top post right now is misleading as fuck. There was no bug on the main layer of Ethereum, this only happened on some layer 2 project. Read the articles.** + I know, there are a lot of posts like this and mine doesn't stand out compared to the others. + +Nobody enjoys when the market crashes, but I just want to say that this is the time when serious investors are entering with a lot of money. + +Of course, we all know that this is a very volatile market and that in a few days the price may fall even lower, but that is why there is DCA. + +In any case, I have an opinion that it is not necessary to invest your sum of money at once, but to spread it over a certain period of time. + +Honestly, I'm not too worried about prices dropping, I think that this is a technology that will keep on living, but with projects that have a real world use. + +Cheers and good luck to all. +As the title says, when borrowing using a LoC, and investing into XEQT and VFV, is the LoC interest tax deductible? Assuming this is done in a non-registered account, and this investment does not mix with any other non-LoC money (it's in its own separate account). + +Both VFV and XEQT pay a small dividend. +I was thinking of making the initial deposit into questrade as my play around money and then open up a wealthsimple account in a few weeks and use that for long term monthly deposits while I continue to play around with individual stocks on questrade. Any thoughts? +If I'm buying US stocks, then of course US Capital Gains Tax would be applicable for them. But I'd read that under the Canada-US Tax Treaty, the US Capital Gains Tax is only 15% for US stocks purchased by Canadians, instead of the usual 30% that Americans would pay. But I'd also read that you need to fill out some W-8 form from the IRS in order to be recognized for eligibility under Canada-US Tax Treaty. + +Tell me - do I have to fill out this W-8 form in advance of buying the US stocks? Or can I buy my stocks first, and then worry about filling out this W-8 form afterwards? How does everybody else here do it? +Title + +I've rationalized it as a hedge. The assumption is that we're going to see another large drop in the market (of course we are). + +I have around 10% of my portfolio in cash just hanging out in my TFSA. I have the other 90% of my portfolio spread across indexes. Approx 35% international stocks, 25% Can + US equities. 10% emerging market, 10% small cap US, 15% small cap + value US. I'm fine with my asset allocation. The volatility of an all equity portfolio doesn't bother me. + +&#x200B; + +I'm not asking for advice on my portfolio, but I'm wondering if I'm being irrational by holding on to cash. + +\-If the combo of my equities behaves bullish, I'll likely lose a small amount before I dump it in. I'm speculating that there's not way there's going to be a large trend upwards. Therefore, there isn't a large amount to lose with this strategy. I get to call it an emergency fund as well I guess. + +\- If the combo of my equities behaves bearish, I stand to benefit, generally speaking. My logic is: my portfolio was going to go down anyhow. What ever money I stood to lose from being invested is going to happen, and 10% with not take that hit. When I near the bottom (or get close to it) I can dump my 10% in to re-balance those indexes that took the largest hit. With this method I'll stand to save money that would be lost on the 10% on the way down, and would get to re-balance + get a lovely premium. If the direction of my speculation is correct, I kind of assume the magnitude is as well. + +&#x200B; + +Both of my options in this speculate about 3 things. oof + +\#1 there will not be a large uptrend in the short term + +\#2 there will be a "new" and more sever decrease generally across markets + +\#3 the magnitude of this decrease is going to be large + +&#x200B; + +&#x200B; + +Now that I've written it all out, it does seem like holding is a bad idea. What is the prudent decision? +This space has historically been limited to the wealthy and super-wealthy. In order to invest in startups in the past (through a VC fund for example), you would have needed to be an accredited investor - meaning you either need to make at least 200k/yr or have a net worth of greater than a million. + +With cryptos, you can literally invest in a startup for $5, and experience a return profile that only the wealthy have had access to for the past few decades. Crypto is the ultimate democratization of investable assets. +\*Correction: **Dow Jones up to 20% in the last 7 days** + +**Global stocks:** Edging lower, and oil prices have plunged to 17-year lows at the start of another week set to be dominated by the coronavirus pandemic. + +**U.S. stocks:** Rallied on Monday. The investor optimism came despite President Trump extending the U.S. lockdown to April 30 and public health officials warning that the American death toll could be between 100,000 and 200,000 with cases in the millions. + +**UBS Analyst Comment:** Equities remain the most ‘pessimistic’ across asset classes (pricing global growth at 0.3%), followed by commodities (0.7%), rates and credit markets (both 0.9%). At 3% implied growth, cyclical currencies send the most optimistic signal. Nevertheless, equity market bottom may yet to come + +However, economic uncertainty continues to skyrocket & is now more than double prior peak as you can see here: [https://twitter.com/LizAnnSonders/status/1244585147099381761/photo/1](https://twitter.com/LizAnnSonders/status/1244585147099381761/photo/1) + +**Today's closing market data (from Reuters)** + +**Stocks** + +* [**S&P »**](https://www.reuters.com/finance/markets/index?symbol=.SPX)2,598.28**+2.24%** +* [**Dow »**](https://www.reuters.com/finance/markets/index?symbol=.DJI)22,082.98**+2.06%** +* [**Nasdaq »**](https://www.reuters.com/finance/markets/index?symbol=.IXIC)7,703.55**+2.68%** +* [**FTSE 100 »**](https://www.reuters.com/finance/markets/index?symbol=.FTSE)5,560.53**+0.91%** +* [**Nikkei 225 »**](https://www.reuters.com/finance/markets/index?symbol=.N225)19,084.97\*\*-1.57%\*\* + +Breakdown---------------------------------------------------- + +**What asset classes are you investing? (equities, commodities, bonds, alternative assets)** + +**What platforms are you using to invest the different asset class?** For ETFs I am using Vanguard ([https://investor.vanguard.com/](https://slack-redir.net/link?url=https%3A%2F%2Finvestor.vanguard.com%2F)), for alternative funds & portfolios Daedalus ([https://daedalus.investments/](https://daedalus.investments/)) and for shares & options Robinhood ([https://robinhood.com/](https://robinhood.com/)). **Which other platforms do you recommend?** + +**Do you think markets will run bull from now or is it a bull trap? Will VIX follow contango or backwardation period in the next few weeks?** + +&#x200B; + +&#x200B; +2017-07-21 00:07:31.858789 UpdateTip: new best=000000000000000000ea12d5c32f279e88abc01ef71b11519cd4076d58ca3589 height=476768 version=0x20000012 log2_work=86.794578 tx=240719626 date='2017-07-21 00:06:48' progress=0.999999 cache=87.5MiB(650415txo) warning='93 of last 100 blocks have unexpected version' + +There are now enough blocks in the current BIP-91 window that a lock in is guaranteed. + +This means that if BIP-91 actually gets enforced at height 477120 blocks which do not signal segwit (bit1) will start getting orphaned-- though it's possible that due to fake signaling this won't happen completely. If by that time (about two days from now) all miners haven't begun setting bit1 there will be a lot of short forks created. You should be especially careful about trusting confirmations at that time. + +Assuming that BIP-91 doesn't blow apart at enforcement time segwit will be active and enforced at block 481824 which is about 35 days from now, which is August 24th (though due to hashrate increases it may be somewhat earlier). + +https://www.bloomberg.com/news/articles/2021-06-22/microsoft-rallies-to-join-apple-in-exclusive-2-trillion-club + +>Microsoft Corp. took its place in the history books as just the second U.S. public company to reach a $2 trillion market value, buoyed by bets its dominance in cloud computing and enterprise software will expand further in a post-coronavirus world. +> +>Its shares rose as much as 1.1% to $265.64 on Tuesday in New York, enough for the software company to join Apple Inc. as one of only two companies trading at such a lofty value. Saudi Aramco eclipsed that threshold briefly in December 2019, but currently has a market value of about $1.9 trillion. + +I for one am STOKED and never selling this monster. +https://www.scmp.com/business/banking-finance/article/3022056/unit-chinas-sovereign-wealth-fund-takes-over-xiao-jianhua + +If three US banks of this size all collapsed within a few months of one another like this it would be front page news. China looks to be at risk for a serious banking/financial crises... or already in one. + +> Central Huijin Investment will invest in Heng Feng Bank to increase its capital adequacy ratio, improve its management and enhance its operational capability, according to a report by Shanghai Securities News + +> Heng Feng is among more than a dozen city-level and rural lenders that had been put on notice by the authorities for a shake-up + +> The Chinese government’s first nationalisation of a private bank since 1998 has led to a collective collapse in the stock prices of China’s listed banks, driving their valuations to record lows, amid fears that the shakeout would affect more lenders, and that the largest and best capitalised institutions would be called upon to bail them out. +I think we all have a story to be told. Mine’s that I was told to invest but my family doesn’t know anything about investing and use (or get used by) a financial advisor. My advice was to go to TIAA. I opened a lifestyle (basically like a target-date fund). Then I bought FB after the cambridge analytica scandal. I bought 4 more stocks MA, IQ, AMZN and XPO. I also bought a high-yield, junk bond fund. Eventually I sold everything and now go 3-fund portfolio 70/20/10, bogelhead model. I’m happy I learned this lesson at age 35 before it was too late. Anyone else learn the hard way? +I think we all have a story to be told. Mine’s that I was told to invest but my family doesn’t know anything about investing and use (or get used by) a financial advisor. My advice was to go to TIAA. I opened a lifestyle (basically like a target-date fund). Then I bought FB after the cambridge analytica scandal. I bought 4 more stocks MA, IQ, AMZN and XPO. I also bought a high-yield, junk bond fund. Eventually I sold everything and now go 3-fund portfolio 70/20/10, bogelhead model. I’m happy I learned this lesson at age 35 before it was too late. Anyone else learn the hard way? +I've recently moved to North western part of Germany. As an expat who doesn't have European origins, I'm trying to figure out the estimated expenses for a single guy who livess alone. What should be the estimated monthly expenses for someone who doesn't drink or smoke? What kind of measures should I take to maximize my savings? Any insurances/funds i should invest in for passive income or to support myself in dire circumstances? +Hello! I'm a student (17y) and I will to university next year so I will find some "part-time" to have my money. +I have 2.5k and I think I have to put the money in some bank to make some profit in the future, what do you recommend for this money? Invest in trade? +Hi + +I would like to start investing and it seems that investing in a low-cost index fund with a ETF sparplan is one the best solutions. + +So I opened a Wertpapierdepot with Consorsbank, but I have a few questions: + +1) I live in Germany, is there anything I need to do from a tax point of view or will the bank automatically pay taxes for me? + +2) Consorsbank asks me for how long the Sparplan should be set up. I would like to invest long term, but it's a bit scary. Can I easily cancel a sparplan before the end of the term I gave? And if I put a period of six months for example, can I easily renew it? + +Thank you for your help +Hey everyone, + +I am a 25 year old who is about to start his first job. My annual fixed salary is 52k EUR with a bonus component of 4k-14k (average at 7k according to my contract). On top of that a lot of goodies are paid for (phone, health insurance etc) and my employer will deposit 4.5k a year in a retirement account for me (Brand New Day). I currently have about 10k in savings. I do have some student debt (I will have to start paying 100-150 EUR a month in 2 years from now, although my income should have increased to the point where that should not be a concern). + +I am looking for some general financial advice. I will have to live in Amsterdam for my work and am planning on sharing a house with a few other young professionals for a couple of years to limit the rent I have to pay. I am not planning on buying since it is quite likely that I will move abroad for work within 2 years from now and I do not feel like blowing all my savings on notary payments etc (also the housing market in the area seems to be overheating so I doubt if I could afford anything livable within a decent commuting distance). + +My general plan is to keep my current 10k in my savings account as an emergency fund and save anywhere from 10-15k a year from my salary. What would your recommendation be regarding the allocation of these savings? I was personally thinking of low cost ETFs (I can only invest in index funds, my current job prevents me from investing in individual stocks). I considered adding to the 4.5k that my employer is adding to my pension but I am not to sure whether that is possible (I believe I'm already exceeding my jaarruimte, if anyone could clarify this that would be great). Would you agree with this general strategy? Of course I will consider my exact fund allocation in more detail in due time. + +Thanks in advance! +I am investing in Index Funds (ETFs) like the [ISHARES CORE MSCI WORLD UCITS ETF](https://trader.degiro.nl/trader/#!/prices/products/846772?productType=131&detailsTab=price) and [ISHARES CORE S&P 500 UCITS ETF](https://trader.degiro.nl/trader/#!/prices/products/5045558?productType=131&detailsTab=price) with DeGiro. The DEGIRO fees are low and the mobile application is pretty good, so I am happy with it. I will try to change to the Custody account though because I do not like the fact that DEGIRO can lend securities with the basic account. Due to tax reasons I only invest in UCITS ETFs that are accumulating and do not pay dividends. + +However, I'd like to hedge against the currency exposure that is inherent when investing in ETFs that are denominated in USD and not EUR (currency of my country). There is the option to buy currency hedged funds in DEGIRO. However, the TER of such hedged ETFs tends to be noticeably higher than with non-hedged ones. + +Is there any possibility to do currency swaps / currency forwards with DEGIRO and what is the cost associated with it? + +How are you hedging against currency exposure? +Hi everyone. + +So my coworker told me about this expat investment management shop - Blacktower FM. +I've never really looked into it apart from occasional transactions but thinking about getting serious on investing. + +I got a call lined up with them, but wanted to consult with the hive mind prior the conversation: +\- anyone had experience with such service? +\- how to verify if they are legit (red flags) +\- pros/cons +\- what to ask from these guys + +Cheers. +As title suggests I'm a DN travelling thru Europe, often changing country of residence. Having made some extra cash thru crypto trading last year, I would like to invest my gains using a reputable stock broker website (based in the European Union). I plan to dablle in forex, bonds, stock markets, and commodities (maybe also some CFDs). + +Coming from crypto, I'm very cautious before sending money to any service - your broker recommendations are highly appreciated. +Hi everybody, I’ve been passively reading this sub and decided to finally do something. + +So basically just what the title says. So, I’m a foreign student (21 yo) in Switzerland with a category B residence permit, that allows me to work up to 15 hrs a week while studying. I’ve been working as a teaching assistant at my university since September and have made about 2000 CHF since then. +My expenses here are covered already, so it really is money that I’m not using. I’d love to start understanding how investing works and I thought I could do it with this money. + +I don’t know if it matters, but I have both Spanish and French nationalities. + +Have a good day! +Hello everyone, I have an important question for me. A little bit of personal information first: 26 yo, have been working as a resident physician (Assistenzarzt) in North Rhine-Westphalia, Germany since October and I come from one of the Baltic states. My main motivation to leave my motherland was money and better quality of education. + +I wonder if I should emigrate to Switzerland after about 2 years with a little more clinical experience and better german language skills. + +Arguments for it: higher salaries. + +I've heard that: the doctors have more time for the patients and that the nurses are a little more competent there in Switzerland than in Germany. + +Arguments against it: longer working hours, higher prices, rent, etc. Switzerland is not an EU member state. + +I've heard that: the prices are so much higher that it might not be worth emigrating there. + +Questions: which arguments are still missing? Has anyone done that and was it worth it? + +Just to emphasize once again: my main motivation is money and leaving Germany for me would not be very painful, as I am not German anyway. + +TL; DR: Is it worth leaving Germany for the same job-position in Switzerland? + +P.S. please see this inquiry as a general one, as I am sure that it applies not just for physicians. Apart from answers I am also interested in sources, where could I get an answer to my question, i.e. blogs, other subreddits etc. +Hello + +I would appreciate any constructive critic of my portfolio + +This should be my long-term portfolio with yearly or quarterly rebalancing and recurrent quarterly investment patterns. Time horizon minimum 10 up to 20 - 25 years + +&#x200B; + +iShares Core MSCI World UCITS ETF USD (Acc) - 30 % + +iShares Core MSCI Emerging Markets IMI UCITS ETF (Acc) - 20 % + +iShares MSCI World Small Cap UCITS ETF - 20 % + +iShares Physical Gold ETC - 20 % + +Invesco CoinShares Global Blockchain UCITS ETF Acc - 10 % + +&#x200B; + +I'm having doubts about the Small Cap exposure, in particular, I'm thinking to reduce it to 10 and increase exposure on the Emerging Markets to 30. + +Some thoughts behind this composition. + +\- No exposure to Bonds. Taking into account the current trend of interest increase and inflation. + +\- Gold as a hedge against inflation and potential market crash. + +\- Blockchain as the promising direction in terms of returns and a potential hedge against inflation and market crash. + +\- MSCI World as the main source of income. + +\- MSCI Emerging Markets and Small Cap as the promising direction of high returns in the long run and hedge against the market crash. +Should I move to DeGiro + +Hi all, + +I am currently using etoro from The Netherlands. Lately I have seen multiple complaints and issues with the platform. + +I was thinking about moving to DeGiro. But have few questions for which I cannot find answers on brokerchooser. + +[editing based on feedback] + +1.. ETFs specific question: Are all non EU ETFs treated as CFDs like on platforms like etoro ? + +2. Etoro recently offered 3 of the 5 ARK ETFs on their platform. Are any of the ARK ETFs available from The Netherlands? Tickers - ARKK, ARKG, ARKF, ARKW. + +3. What are your experiences (too much commission or so) regarding commissions if you plan to invest EUR 200 every month in US stocks and ETFs. + + +Thanks for your answers. + +If these questions are answered anywhere else please share the link. I would be grateful. 🙏 +[Mint stats](http://imgur.com/a/UJn5Z) + +For as difficult as people make it seem, getting to $100k net worth was really easy. I'm 25 and have been working full time since August of 2013, so it was a pretty quick process getting there. + +**Pre-Work** + +(Skip this section if you just want the numbers without the story) + +I went to Washington University in St. Louis and majored in Physics. I was always good at math and figured Physics was math that had a little more practical value. I loved the lower level course. Having a basic understanding of Physics gives you a deeper understanding of how the world around you works and trains you to analyze problems in a logical and mathematical way. + +The problem started to come when I took more advanced courses, which were very difficult and not particularly interesting. I also discovered the life as a scientists was not as glorious as I had thought. It's very tedious work and often you're working on problems that are mind numbingly boring. And to get that glorious job you had to spend most of your 20's [getting paid less than people who do nothing](http://www.phdcomics.com/comics/archive/phd082109s.gif). I decided to make the shift to Computer Science. + +There was just one problem, but the time I decided to switch I was a semester away from graduating (I graduated in 3 years). So I fit as many CS classes as I could before I left. + +After graduation I moved back home to my parents' home in suburban KC and started working on my Masters in CS at a local university and applying for jobs. I only went to school part time so I could immediately start working if offered a job. This was the greatest part of my life so far. With so much free time, and being able to sleep in every day, it was basically a preview to FIRE. + +After a year of this I had made no progress finding a job, so I started looking for internships instead. Thankfully a long time neighbor is the head of IT at the city, so I got an internship there. I was there for 2 months before deciding to start looking for a job again, and this time I got a ton of interest. I decided on a job that offered $60k a year (I negotiated up to $65k by saying that if they offered that I'd accept immediately). + +**Career so far** + +I've gotten very minimal raises so far, so my salary (including bonuses) has been roughly $70k for a while. After accepting my job in August of 2013, the very first thing I did was start house hunting. I had 3 main requirements: + +1. The house shouldn't require any major work. + +2. It should cost $75k or under. + +3. It should be in the historic area of town. + +I managed to find just such a house very quickly. This house had been bought as an investment and renovated shortly before the housing crash, so it was in good shape. It was also listed at $65k (which I negotiated down to $57k), and was, of course, in the historic district. The only major expense I put into the house was a $6k home energy renovation to reduce my utility bills (why they didn't properly insulate the house when they renovated it I'll never know). + +I managed to pay off my house about 2 months ago, so now I'm entirely debt free. Outside of principle and interest (which I consider savings), I spend roughly $12k a year without feeling the need to spend any more. I live very comfortably. However, on top of the $12k I have spent some large sums of money, but they were always in order to save money in the longe run: + +* The previously mentioned energy renovation ($6k). + +* Upgrading my car to the same model but 7 years newer ($4.4k plus my old car). + +* Paying off my student loans before they started charging interest ($17.5k) + +* Finishing my Masters ($4k? I don't really remember) + +* Paying off the house early (total of $46k if I had just done the minimum payments). + +Note that all these expenses above my baseline $12k a year spending were both optional and should save me money in the long run (except the Masters). Unfortunately it left me with no investments other than my 401k. + +*Path to FIRE* + +With $12k spending every year, the 4% rule says I only need $300k to retire (this number doesn't include my house). It took 2.5 years to get to $100k net worth, so if everything remains the same I'd be able to retire in 7.5 years right around my 33rd birthday. + +However, now that I've accomplished one of my main financial goals (paying off my house), I can start investing my excess money and get to FIRE even quicker. I tell everybody the 35 number, but most likely it will happen well before then. +Hey Guys, + +So my dad has 60k saved that he want's to invest. He's dead set on thinking that the stock market is the only place he's going to make money. Keep in mind he can't really afford to lose all 60k. I mean he can, it won't necessarily affect our financial position but it'll still mess with the budgeting. + +Back story: +He's basically fed up of living this mediocre life. He made some bad financial decision in the past which led to us being where we are today. He sees his friends making it big in different ways and feels the need to "catch-up" to them. I understand that feeling (been in that place), but trying to compete with money is a bad idea. + +So, he's going after the "get rich quick" strategy which is obviously a horrible idea. I'm trying to convince him that as a beginner investor, he should stick to safe stuff like ETFs and Indicies. He's thinking more along the lines of low-mid cap companies and possibly penny stocks. He has these false ideas about the market and he's only thinking the most optimistic point of view. His ideas might work if he had the time to research and study the companies. He's only going off previous trends, article headlines and opinions. But as Warren Buffett said "If past history was all there was to the game, Librarians would be the richest people". + +Anyways, I'm here asking you guys to help me come up with a convincing argument to steer his mind in the right direction. Any beginner tips, things to plan for etc. ANY advice is appreciated. Btw we're Canadian, so things like Robinhood don't work for us :( + +Thanks!!! +I’m fortunate enough to hold some Morrison’s shares.. but I’m a bit confused by the latest news. Morrison’s have accepted an offer of £2.52 with a 2p dividend. (I don’t understand why it’s split though) + +Today the share price has shot up £2.60+, but don’t understand why. Is this because another offer is expected or am I missing something obvious? +Lots of talk about how to react to today's 3 month/10 year yield inversion and that a recession will be imminent in the next 12 - 24 months. + +While that is quite possible, I implore investors to take yield curve inversions with a large dose of patience. You don't need to move your money on Monday, or even next week, or even next month. + +While this a bit of pattern seeking that may not hold up again, I do ascribe to pattern seeking more than "this time it's different". Those are always famous last words at the end of bull markets. + +Anyways, see the following 3 month/10 year curve and corresponding S&P 500 futures movement. + +https://fred.stlouisfed.org/series/T10Y3M + +https://finviz.com/futures_charts.ashx?t=ES&p=m1 + +You will notice a few things. First off, is the possibility that a short term inversion can happen and not spell any doom. There were very brief inversions that took place in September 1998, April 2000, and January 2006. In the case of 98 and 2006 there was considerable appreciation in stock afterwards. In 2000, April would have indeed timed the high well but there was a considerable distribution phase if you waited for more considerable yield inversion. + +You will notice that a better signal is to wait and see a bit with the yield curve. Typically the recessionary signal will see an extended inversion that is deep and lasts for several months, then as the curve steepens again recession hits. Waiting as much as one month for full inversion will give you higher confidence in the signal. This gets you out in August 2000, and August 2006. + +Corresponding with a move to bonds, waiting for a full month does seem to lose some appreciation in capital values, but you will still make out well with a bit of delay in transitioning to a risk-off strategy. + +https://finviz.com/futures_charts.ashx?t=ES&p=m1 + +So looking at the present day, we have the following factors: + +Large transition into bonds as investors go risk-off for a Brexit that may not actually happen + +Possible US-China trade deal as soon as April + +Fed that has made a commitment to a more dovish transition the remainder of the year. + +While all these factors may end up being too little too late to prevent an extended inversion and recession, I believe it is certainly prudent to give such scenario's a bit of time to play out. Any quick movement on a trade deal or Brexit news could quickly make this inversion look more like 1998 than 2000. I do think the Fed is a bit too little too late on the dovish turn, but we shall see. The tech bubble was ultimately kickstarted in 1998 when Greenspan lowered the FFR in response to flat yields. Today's Fed is not taking an accomodative stance to that degree. + +The reasoning for recession with yield curves is a rather simple one, there's no term premium for bank lenders and this dries up lending markets. Think of it this way, if lending dries up for a few days it's not a huge deal. If lending dries up for a few months, that is what causes a lagging recessionary effect. + +In any case, this is just to reinforce that you should not panic and give yourself time to rationally make adjustments to your portfolio, if any at all. + +It's also important to note that I believe such a strategy did not work out well in 1990 to my knowledge. So depending on your timelines and risk dependence, certainly there is no guarantee that stocks see an extended decline you would benefit from avoiding. I believe the 1990 bear market was rather quick and shallow, just slightly worse than what happened from October - December 2018. +For inflation, I understand that TIPS are equivalent to market-based predictors of what level inflation will be (graphed: https://fred.stlouisfed.org/series/T5YIE). + +Is there the equivalent for the future price of a stock or index? For example, if I wanted to answer the question "what does the market think the % chance is there that $SPY hits $475 in the next year" based on all the existing calls/puts... is that possible to determine? +Interim Announcement +August 6, 2016 + +Following the theft on August 2nd, the Bitfinex team has been working tirelessly towards bringing the platform back online in a secure and controlled manner. We have finalized the accounting of losses incurred and are currently coordinating strategic plans for compensating customers. + +We intend to come online within 24-48 hours with limited platform functionality. Additional announcements will be made as we progressively enable more platform features and return to full operations. We appreciate that our customers and the public want this handled quickly, but it needs to be done a way in which all assets are secure and immune from vulnerabilities. Every resource is being leveraged to make that happen in a safe and optimal way. + +As disclosed in earlier announcements, all withdrawals, open orders, and open funding offers have been cancelled and all financed positions have been settled. Exact settlement prices were published on August 3rd. + +After much thought, analysis, and consultation, we have arrived at the conclusion that losses must be generalized across all accounts and assets. This is the closest approximation to what would happen in a liquidation context. Upon logging into the platform, customers will see that they have experienced a generalized loss percentage of 36.067%. In a later announcement we will explain in full detail the methodology used to compute these losses. + +We are actively discussing various strategic options with numerous potential investors as part of our strategy to fully compensate our customers. Such discussions, however, are in early stages and will likely take time to play out. In the meantime, In place of the loss in each wallet, we are crediting a token labeled BFX to record each customer’s discrete losses. Tokens will be distributed without release or waiver. The BFX tokens will remain outstanding until redeemed in full by Bitfinex or possibly exchanged—upon the creditor’s request and Bitfinex’s acceptance—for shares of iFinex Inc. We are still sorting out many details on this; we will post further updates in the coming days. + +Thank you for your continued patience and for the many generous offers of support that we have received over the last several days. Notwithstanding this attack, we continue to believe in the possibilities associated with bitcoin. We will continue to update our customers and the public as and when we can. + + +Edit: One thing that I need to clarify is that bitcoin deposited after the hack was discovered **is not** subject to the loss. I'm waiting to hear back on the cutoff point. +Just poured a can of chicken enchilada soup ($2.50) over pasta ($0.20?) like sauce and it is, not gonna lie, pretty good. Is it cheaper than normal pasta? No, but it's a nice change of taste from normal pasta or ramen. It's also more filling than just the soup. It will easily make 2 meals. Gotta add this to my normal lunch rotation +Looking to invest a small amount into Ethereum and NEO(antshare?) + +Can someone point me in the right direction of the easiest way for me do this? I see literally hundreds of exchange websites but I'm not sure what the best option for an Australian is. + +Cheers +Hello again AusFinance, its your local logistics nerd to bring some more information regarding the logistics markets and industry, tying these back into how it effects the Australian economy at large. + +The biggest thing going on at the moment is the MV Ever Given that has Austin Power's itself in the Suez Canal. What caused the actual grounding isnt known yet but the effects are massive, as 12% of the worlds cargo moves through the Suez canal. About 55,000 TEU (Twenty equivelant units - 1 20' container = 1 TEU, 1 40' container = 2 TEU) of cargo moves through the canal every 24 hours, the issue is that this disruption will lead to further congestion in all called ports in about a week or so. It also means that there will be an acute shortage of equipment because those empty containers are also stuck in the canal, meaning lower utilised ships out of exporting countries because there just arent enough containers. This may have an upside as it allows us to move some of the glut of empty containers out of net importing countries as there will be less stuff to unload (the thinest of silver linings) - [https://www.abc.net.au/news/2021-03-24/ship-stuck-in-suez-canal-ever-given/100025314](https://www.abc.net.au/news/2021-03-24/ship-stuck-in-suez-canal-ever-given/100025314) + +This isnt the only thing going on but it is by far the greatest at the moment. + +Container rates across the board are ludicrously high, the Freightos Global Freight index is at $US4045 - that is 190% up from last year, we have seen a slight easing since chinese new year, however with this new development I expect there to be volatility as supply is severly constrained. These rising costs are going to have to come out in the wash somewhere and it usually means the consumer picks up the tab. The question is, is this worrying Reserve Banks, and the answer so far has been nope - but it might effect bond markets which are more sensitive to accute changes in inflation + +[https://www.afr.com/world/north-america/yellen-powell-say-more-needed-to-promote-recovery-20210324-p57dgq](https://www.afr.com/world/north-america/yellen-powell-say-more-needed-to-promote-recovery-20210324-p57dgq) +New inflation numbers coming out today and the markets are already panicking, reports are coming out about June inflation rates hitting 9.1%. + +Today will be a Red day which might not be good for Crypto but if you were waiting for the right time to buy this might be it.\* + +I know some of you don't look at the charts anymore so I brought the charts to you. + +Bitcoin down about $1,000 this morning in about 10 minutes + +https://preview.redd.it/ei49r7me5cb91.png?width=960&format=png&auto=webp&s=1c0f899af5d59febc5103e3e075fa3810cbaaf24 + +Ethereum is also not looking to hot. + +&#x200B; + +https://preview.redd.it/t6fyutvk5cb91.png?width=978&format=png&auto=webp&s=feb17a2da8f6686bd66fa0f86cf369e08501a811 + +Even to meme coin DOGE is back down in the five cent range + +https://preview.redd.it/lx7o1q8m5cb91.png?width=954&format=png&auto=webp&s=cb168ed7dcfe9cdee4a71f8450dbbfc54121c058 + +Look how they massacred my boy ALGO + +https://preview.redd.it/l7nr9cqq5cb91.png?width=971&format=png&auto=webp&s=bf2468ae1b37cdd45b4d7594ef8e4c0776c5e6e3 + +So Strap on tight because today is going to be a bumpy ride. + +&#x200B; + +\*^(This is not financial advice, I could be completely wrong on it being a great time to buy. I take no responsibility for any losses you might incur by following the advice of a random person on a crypto subreddit.) +Hi all my favorite apes. I'm not sure this qualifies as a full on DD, but it's at least a mini-DD, and I had to share my smooth-brain ravings with y'all or I'll just stew on it, or bore my wife to tears with it... + +First off, this doesn't change The Way: buy, HODL, and DRS. Perhaps it increases the need for you to DRS, to ensure you get an actual 'unit' and aren't fighting your broker over whether it has an equivalent cash value. + +So, the first bit of data to diligence (or Double Down for the shills in the back row), and the news of the day was the Loopring wallet transfer by the CEO of Loopring in the amount of 61.3m LRC tokens: + +https://preview.redd.it/2zch6jurl2081.png?width=640&format=png&auto=webp&s=701efdc9a4044b592be57eac43c9d4ab0b058887 + +Very exciting, very interesting, it gets the people going. But does it have anything to do with GME? + +Well, we know that GME's crypto team has some ex-Loopring people, so there's those connections, and the job postings are openly discussing Ethereum and an NFT marketplace. GME also will want to be seen as being ecologically conscious, and also not spending huge amounts of investor cash on gas fees, so they're going to choose an L2 solution with rollups, which LRC provides. And L2/LRC enable a DEX (Distributed Exchange) where one could exchange tokens, NFTs, or say, crypto securities (more background: [https://decrypt.co/73356/top-decentralized-exchanges-dex-uniswap-sushiswap](https://decrypt.co/73356/top-decentralized-exchanges-dex-uniswap-sushiswap)). + +Secondly, RC's tweet about "small wee wee" isn't about the size of his "unit", it's about only needing small amounts of "wei", or the smallest unit of Ethereum, to transact the exchange of "units". He's saying that GME can make low-cost, secure transactions happen now, not just for an NFT Marketplace of games or in-game items, which is pretty exciting on its own and I believe that GameStop will do that, but for stocks. And not just any stocks, but digital crypto tokens with smart contracts. Next-gen stocks that can't be rehypothecated, naked shorted or otherwise abused. + +Thirdly, let's talk share count: after deducting insiders and restricted shares, that is currently published as 61.76M by Yahoo. So that's 460k short of the 61.3M LRC. Not a huge difference and I think it's fair to suppose that some insiders (perhaps even RC himself) have bought 460k shares since the last quarterly report. GameStop knows the exact count from ComputerShare, per other DD, so they have the most current numbers. + +Fourth, from reading job posts for GameStop's NFT/crypto group and some of the Twitter traffic, it seems they have set it up in Seattle and given it a lot of autonomy, which is exactly what I would have done in their situation. They couldn't attract top crypto talent to Texas, and a high functioning engineering group would have a hard time co-existing with the more traditional retail corporate environment of GameStop HQ. Plus, they've been poaching top Amazon talent (Director of Finance yesterday), so allowing them to stay in Seattle makes a ton of sense. + +The important aspect of this is that the NFT group is already a separate organization within the company. Spinning them off would not be hard. GMErica? Maybe. + +Finally, and perhaps most importantly, let's take a trip back to June 9th, and the GameStop prospectus for their share offering that raised $1.2B. mmmm... good times. They took care of us and only raised the cash they needed, unlike certain popcorn CEOs. But I digress! Buried in there without much fanfare was a section that describes exactly what they're going to do, just wrapped in legalese and generalized descriptions that at the time didn't give a lot to go on. But now that I have the information above, I think it is the missing piece that ties it all together: + +[Link: https:\/\/news.gamestop.com\/node\/18961\/html#supprom192873\_24 ](https://preview.redd.it/vu3rkucs63081.png?width=832&format=png&auto=webp&s=5fa271c5779b8e875e3f5463b00120afef6ca526) + +This may be hard to read and it's pretty dense. I'll try to summarize as best I can: + +* GameStop defined a new type of offering: a "unit" for any future "prospectus supplement". +* The June 9th offering was also a "prospectus supplement", so they are planning at some point to publish a new prospectus filing with the SEC defining the specifics of the "units." +* The units will be issued in "distinct series," ie. numbered items in a collection. They cannot be duplicated. NFT fits this like a glove. +* They will be issued by a "unit agent" to be designated in the supplement. Could be CS, could be the NFT spinoff, who knows? +* Units will combine "two or more securities". Unit holders will hold each security in it with all shareholder rights. Hold AND Hodl? Will do. +* Units will be transferable "for a specified period of time" only by themselves. I think this is to bundle the price of GME and "GMErica" together for a while, until the spinoff has gotten momentum, revenue and is ready to be out as a public company. +* There will be "material U.S. federal income tax considerations." Really? Why would that be? Oh, wait, that would probably mean shareholders are getting something of value that they must pay taxes on. OK, so what if every shareholder trades in their GME share for a new GME Unit that contains their GME share plus 1 GMErica share? That'd be like getting a dividend, especially if the LRC it took to make the share cost $3 USD. But it's not a cash dividend, and not a generic crypto NFT that has some undefined value. The cost basis for taxes is $3 and it has some unknown market value. +* You can't break out the GMErica share and resell it. Aw, too bad, SHFs! Better get started closing your naked shorts! oops, MOASS! + +In conclusion, I think that GameStop is poised to announce that they are spinning off their NFT Marketplace division as a separate company with its own stock, but are issuing new "units" that will contain 1 share of GME and 1 share of the spinoff NFT Marketplace. These units will be tradable on their NFT marketplace or a DEX of a similar kind, and cannot be separated for some period of time. + +MOASS is inevitable, my apes. Stay strong, hydrate, hold with diamond hands and I'll see ya on the rocket! + +**Edit:** + +A few related thoughts after chatting with more people about this: + +\- RC's tweet about "Hold or HODL" could be interpreted as "stock or crypto", with the natural question of "why not both?" A unit with stock AND crypto could be both Held and HODL'd. + +\- If GameStop makes units a voluntary conversion for any shareholders who want it, then you really will have to decide between Hold or HODL: keep your old stock or get the new units. AND, there will be a mad rush by apes for those units, and once they're gone, they're gone. Ooops, MOASS, their bad! + +\- The unit can contain "two or more securities." What if units contain not just a carveout share of the NFT company, but also an NFT that secures ownership of a physical limited edition Pokemon card in their vaults. That would be completely in line with their business (lawsuit proof), have a cash value for tax basis (retail single card price? $0.01?), and yet have the characteristics of an NFT dividend (limited availability, not fungible for cash). Because units cannot be separated until some time period ends, the price of the unit will rise to include all three items' perceived values. And SHFs cannot get one until that time expires (6-12 months?) +"The reverberations of fiscal and monetary policy are likely to be more severe to humans than any climate or societal disaster 💀" + +https://twitter.com/ryancohen/status/1492254050661847044?t=A6qjHnJt1SSSiT86qdNqjw&s=19 + +Holy F we are getting close. Inflation, bond markets, Russia Ukraine, supply chain, covid protests. What a time to be alive. + +Edit: WOW! Thanks for the awards everyone! My first gold! +Apparently their gvt believes that the populace will gain immunity through everyday life. Swedish scientists are outraged. + +I'm wondering if there are any US ETFs or stocks or options that could be bought, as we all know how this is going to go. + +Thoughts? +Do you just set up email blasts from your favorite sites? Do you have any kind of RSS aggregators that you use? Browser plugins? Do you just have a list of bookmarks you go through regularly? Do you set up Google News alerts and, if so, what kinds of alerts do you use? + + +I thought this piece was very interesting: + +https://www.bls.gov/cex/2016/combined/age.pdf + +It came from one of those click-bait articles about how much a set amount of money will last in retirement based on income needed for lifestyle upkeep. And we all know here that it's not about how much your income is, it's how much you spend. + +How do you compare? I'm only $4k beneath the average for my age group (I have some work to do!) +I just read the form 424B5 here: [https://news.gamestop.com/sec-filings/sec-filing/424b5/0001193125-21-105564](https://news.gamestop.com/sec-filings/sec-filing/424b5/0001193125-21-105564) + +This is an up-to-date filing covering a bit about the ATM stock offering and it was released today. + +Lo and behold, + +https://preview.redd.it/jn1a1ujlrfr61.png?width=757&format=png&auto=webp&s=bba0276eb89dbaac8dba6be1164f64d16179caf1 + +This warning still applies right now. + +They also warn us about media FUD. + +https://preview.redd.it/4zockddnrfr61.png?width=755&format=png&auto=webp&s=356998a372aab61dc4f0341b716a5273d37ac7ab + +Do not trust the media. + +And yes, any kind of stock dilution will decrease the price. I trust they are either A) timing it with a short squeeze, or B) selling slowly in small amounts to avoid dropping the stock price. + +https://preview.redd.it/qqm6eev4sfr61.png?width=756&format=png&auto=webp&s=e07343dea81e87058d0e46d8be1dc38d2bc33006 + +Hang in there my fellow apes, I have a good feeling about these coming weeks. +I just started a new job, and while the total compensation package is higher, the medical benefits (health, dental, and vision) cost almost $6,000/yr more, I am giving up a $2,000 per year company provided HSA contribution, and the new company pays ~$1,500 less in 401k contribution. So at a quick glance it looks like a nice pay jump, but the actual net pay increase is nearly $10k less per year than if I hadn’t take all those other factors into consideration. +Finblox is yet another lender who seems to have been affected due to the ongoing collapse of key centralised players and a large fund 3AC which has apparently blown up. Finblox was backed by large VCs like Sequoia and Dragonfly. + +In a message to users, Finblox has informed them they are reducing withdrawal limits and cutting all rewards. + +[Finfblox: Withdrawals capped, rewards paused](https://preview.redd.it/7pmmv1kavz591.jpg?width=777&format=pjpg&auto=webp&s=3633179ec302914d1c0508065c81e604e38853ff) + +Finblox claims to have insurance for its funds - not sure if its going to pay out at all. In the present situation, VCs coming to any startup rescue is pretty much off the table.. + +Its not clear which other operators are affected with the ongoing situation, one thing is certain - the contagion is deep and spreading quickly. 3AC was quite a big player who had commitments across multiple exchanges, lending services and market makers. Some trading desks have already sounded the alarm and have called back their margin. + +Centralised entities continue to be very risky as of now. +One elderly couple just transferred 30k€ to an exchange. Work done - feeling good about it. + +They are close to retirement but they want to explore the new markets and asked me about it. + +I honestly told them everything I know ( invested in late 2015) + +Even my boss bought into Crypto after asking me a few months ago - now he buys into it regularly :) + +Not every bank hates Crypto! + + +Doing my best to help you guys from inside the enemy :D + +(Didn’t know where else to post this as I wanted to share) +Hello, I paid for a 6 class driving lessons bundle for my wife 1.5 weeks ago. The first class was scheduled 2 days after the payment and everything was great. But the lady who schedules has been giving nothing but reasons for a week on why she's not being able to schedule more. She doesn't say she cannot give contracts anymore (that breaks her contract and entitles me for a refund) but doesn't schedule either. She cannot even give a deadline. My wife is coming close to forgetting her first lesson and this service is becoming fully useless now. I started calling her to give reminders politely and she doesn't pick up my phone anymore too. She texts at the end of some days giving some BS reason as to how she was busy and how she will get back the next day (which never happens) + +The contract says, until and unless the driving school is not able to fulfill its obligation, they cannot process a refund. These people can keep pushing forever under this and essentially steal my money. I'm pretty sure she'll refer to this if I bring up refunds at all. + +I paid for it with my Amex credit card. I haven't burnt the bridge with her yet but I wanted to see what my options are to handle this better. At this point, I do not have any hope for my remaining classes. I just want my money back so I can take it to someone else. Please help! +After 15 years and > $1M invested, I need to move everything to another brokerage. I have only ever used Vanguard and still believe very much in the "boglehead" approach to investing, but I will be moving all of my investments to another brokerage. Vanguard's customer service has gotten so bad that I never want to deal with it again, and thought to share my experience as Vanguard is still so frequently recommended on /r/personalfinance. + +Summary of events for my recent request to transfer a Vanguard (company sponsored) 401k to my existing Vanguard IRAs: + +* 6 calls + +* +2 hrs of being on hold (not including call automated call-backs) + +* +30 min on hold during which the rep was "looking up the appropriate team to transfer me to" + +* 6 transfers + +* 3 transfers dropped + +* 3 times where I was told the correct # to call if transfer was dropped is the same exact # that I originally called (and was talking to the person transferring me from). + +And then, after all of that, Vanguard's rep tried to push for having me sign up for use of a "personal investor". They only confirmed the .3% fee after I explicitly pointed out that this is not a free offering and goes against my *boglehead* approach to reduce fees if at all possible. + +This is beyond pathetic and not a company I trust my life investments with any longer. + +So which brokerage is worth moving to? Fidelity, Schwab... something else? +'ello /r/financialindependence, + +I am 18 (UK), and just finished my college course and landed myself a job with a good company as an apprentice software developer, the pay for the next year isn't going to be massive, but there is the potential for me to move up and up the pay scale as time goes on; not to mention the drive I have to start my own income sources. + +But forgetting the rest, do you guys have any tips on how I can better FI situation for the future and RE! + + Edit: wow wasn't expecting such a response, loving all the tips. + +Little extra background, I have 0 outgoing a at the moment, but am looking to move out in the future. +Hi, + +About a year ago, I started investing $100 a week(auto deposits) in long-term stocks using WeathSimple. After a recent promotion at work, I want to increase my deposits to $400 a week. + +Where should I put all this money into? I enjoy looking at and tracking dividends but prefer to get the best returns. + +Below is my non-crypto portfolio. It's about $5000 generating about $14 in dividends a month. + +Is there a position is should invest more in? sell? or buy of? + +There are the stocks that you guys recommended here on reddit. + + +* AP.UN Allied Properties REIT - 10 shares +* EIT.UN Canoe EIT Income Fund - 25 shares +* POW Power Corp. Of Canada - 1 share +* SRU.UN SmartCentres Real Estate Investment Trust - 20 shares +* VEQT Vanguard All-Equity ETF - 5 shares +* VFV Vanguard S&P 500 Index ETF - 15 shares +* VGRO Vanguard Growth ETF Portfolio - 11 shares +* VUN Vanguard [U.S.Total](https://U.S.Total) Market Index ETF - 16 shares +* XEQT iShares Core Equity ETF Portfolio - 3 shares +* ZWC BMO Canadian High Dividend Covered Call ETF - 22 Shares +As we all know, there are many low-fee ETFs available to us, which is great. I recently got to thinking though... with such small revenues from fees, what incentive is there to running some of these funds? + +Take BlackRock's [XUS](https://www.blackrock.com/ca/individual/en/products/251422/ishares-sp-500-index-etf) for example. With a $1.28B market cap and 0.10% MER, this brings them in \~$1.28M in revenues. From that, they have some trading expenses to re-balance the portfolio, maintain a listing on the exchanges, and pay a salary or two. This probably leaves them with a profit of < 1M for running the fund, which just seems kind of... small? + +XUS is a rather large ETF in terms of market cap too, there exist much smaller low-fee funds that bring in even less revenue. I love that we're able to investing through these, but why do the fund companies bother running them? Are they loss leaders? +So, I have an accound with wealthsimple. I used it for a bit, made a bit of money, but had to withdraw everything because of an emergency. Things are looking up a bit recently, and so I thought I'd make a serious effort, putting away 100 to 200 a month and investing the same amount. + +Since I'm 27 and have an okay job (looking for another higher paying one), I figured a decent option to get more bang for my buck would be ETFs and dividend ETFs and stocks. + +So, I'm wondering, is it yield which shows the return for dividends and also, how is it calculated. Based on the stock value per share? +We all know how so damn volatile things are right now. There is no crystal ball or even any semblance of a trend lol. My gut feeling is that investing in oil, airlines, cruiselines, casinos just because they are at a discount right now is the wrong move. I was debating investing in Luv today as it hit an all time 52w low this morning, but just felt off. This second wave is going to happen, I would like to be optimistic, but the realist in me can't overlook the impending fallout. Q2 reports and going to be terrible....TERRIBLE for all the above mentioned sectors. I am not an oracle lol and could be extremely wrong. What is everyone's gut feeling?? +Hi all, + +I’m writing this to remind myself in the future and get rid of this disgusting feeling today. + +I was invested 2K in KRTX and it became 4K with in two hours. My heart was beating and start to sell all I have in US. Invested total 10K and walked out with 5K more with smile. + +I entered again at $137 per share, all in. Now it is around 80ish. Sold everything and end up lost 5K. + +I could not sleep, concentrate at work, and spend good time with my family well. I think I lost more on my personal life then the money itself. + +I do regret my decision but I did learn what is important. I will finish this post, forget about the lost, and move on. + +Good luck to you all. Don’t make the same mistake that I made over the last three days. + +Edit: Thanks all for your feedback and advices. Some people shared their lost to make me feel better and some pointed out my mistakes. + +I realized that the two stocks that I gambled went up 10% and 50% today. However I’m very happy that I don’t feel discouraged anymore. I will enjoy this beautiful Friday afternoon and the weekend with my lovely family. I lost 15% of my total stock investments but I’m glad to learn this lessons. + +Enjoy your weekends friends! +In the Valley, we have the term "golden handcuffs." I first heard it over a decade ago, during a wave of acquisitions of small tech companies by big tech companies, many times what they call an acqui-hire (acquiring small companies for their exceptional talent). These people didn't hit the immediate jackpot but they would vest (typically over 4 years) and bide their time as their generous stock option packages would pay off. They would, as they say, vest in peace. + +It would sometimes be characterized by people who would go easy on their job and cruise. You would see some leave early -- leaving money on the table -- because they already made their life changing money and they didn't want to wait. Maybe they were not mentally challenged and sought more, maybe they wanted to leave the corporate life early and not waste their years away. + +During my time here, I've seen many versions of this post. Maybe it's in tech, similar to above, sitting on high compensation where they've reached their number but they're debating the move to more. Or it's a person who has a business that's been successful but still requires their attention to some degree, and they're debating whether it's worth putting in the time to making more. + +As someone in this position, I've been thinking about a lot. Those of us who feel like we're on the cusp and the difficulty in deciding direction. At what point is more just more and not a meaningful difference? What tradeoffs am I making, especially against Father Time? + +# La Dolce Vita + +In Scorcese's 1990 hit Goodfellas, a few mafia bosses are doing time in prison. However, they've got it good since they have everyone on payroll, and the scene shows them with their own private area, cooking gourmet meals of veal and pasta, drinking red and white wines. They've got it posh, but posh for a prison, doing their time. + +[https://www.youtube.com/watch?v=rQV6CijIzrc](https://www.youtube.com/watch?v=rQV6CijIzrc) + +One option to doing time that's often suggested here is "doing the time" but making the experience more fun and palatable. Take up a hobby on the side. Pare back the hours as much as you can. Delegate as much as you can to someone else. But, at the end of the day as responsibilities fall to you, you're still doing time and not living *la dolce vita* on the outside. + +# Zihuatanejo + +In the 1994 hit Shawshank Redemption, Andy Dufresne is doing life in prison. There, he makes a good friend Red, who's much older and a seasoned veteran of the prison system. In miraculous fashion, Dufresne escapes prison after 19 years. Meanwhile, his friend, Red, is finally paroled after doing 40 years, entering as a young man and leaving as an old one. + +[https://www.youtube.com/watch?v=dpjB6b9OZYI](https://www.youtube.com/watch?v=dpjB6b9OZYI) + +Red has a difficult time adjusting to time on the outside. He's lived the majority of his life in prison and that becomes his whole identity. He narrates this fear accordingly: + +*"There's a harsh truth to face. No way I'm gonna make it out the outside.* + +*All I do anymore is to think of ways to break my parole, so maybe they'd send me back.* + +*...* + +*All I want is to be back where things make sense..."* + +The one thing that kept Red alive was a promise his made to Andy to meet him on a Mexican beach in Zihuatanejo if he ever got out. + +I wonder how much those who work all their lives build an identity around those handcuffs. We make it a core focus of our lives to make money such that that becomes our identity. We become institutionalized in a system where we seek financial freedom and when we reach it, we face problems adjusting to the other side. We seek to be Andy, who we see finds an inner peace, absolved of his sins, living a simple life with his fishing boat. + +# It comes down to a simple choice + +Here end my exploration of golden handcuffs, breaking down what it manes and why we struggle with this choice. If this resonates with people, I have the making of a part 2 somewhere in my head. + +The day before Andy breaks out of prison, he talks to Red about what he'd do if he were free. Red thinks this kind of talk is dangerous talk as it would drive a man crazy to think about freedom while locked up in prison. Andy then says, + +*"I guess it comes down to a simple choice, really. Get busy livin' or get busy dyin'."* +I’m 50yrs old. $17m NW ($5m real estate, $4m cash (I know this is too high but have been trying to position for a crash) and $8m in various diversified investments). Should be able to reach $20m NW by end of 2022. I have a (much) younger wife and a young family so am thinking about at a pot to last 65+ years. + +I’m in a HCOL area (expenses for the next 20 years will be around $450k and thereafter probably around $300k). I’m not a US taxpayer and live in a country where I will be able to receive all investment income (other than real estate) tax free. + +Totally burned out and hate my job. I feel like I should have enough and want to RE but am very nervous about the market as it feels like I’m probably going to retire at one of the worst times possible. + +For those close to retiring or have done so early, how are you thinking about the risks of retiring at what many predict is immediately before the mother of all crashes or hyper inflation? + +When you are modelling your retirement, what assumptions around investment return and inflation do you use? My financial advisor told me to to be conservative and assume 4% net of all charges and adjust for 1% inflation (as he allows for some erosion in real terms of the portfolio over time) giving a net net return of 3% per annum. +(throwaway account for obvious reasons but hopefully there are enough people here with this profile that it is useful to a broad enough audience) + +My situation : + +Cashflow : in my mid 30s, made slightly over $1M 1099 income in 2020 (and $1M YTD in 2021) and expect that to persist for another 8 years at least (due to predictability of business whose cashflow continued even in March 2020) after which there is a decent chance of $1M+/yr between non-guaranteed income and yield on assets. + +Assets : \~$2.5m liquid, $2.5M illiquid. + +I came to this country to work with <$500 (and no student debt!) and so, I am thankful for all the opportunities and philosophically get that taxes are in exchange for these opportunities. That said, as I expect to get to a 50% effective (not just marginal) tax rate this year (including CA taxes), I am starting to think more about tax minimization especially given that tax rates for the $1M+ income group will go up further. + +I have recently engaged a tax planning professional so of course am engaging professional help but I am trying to make a list of exhaustive ideas to go to them with. + +Below is what I have. If you are in the bracket or are familiar with tax strategies, could you please suggest other ideas/topics/questions I should be asking? Again, I am not going to DIY but want to have a list to discuss with my tax planning professional. + + + +* Roth vs traditional (SEP) IRA. Does (mega backdoor) Roth really make sense at this tax bracket? If IRA defers, what is the value if I expect to be in the same/higher tax bracket in retirement +* HSA/FSA +* Moving future income to wife/son in US or offshore parents/siblings +* Business expenses +* Offshore expenses +* Real estate/farming/oil and gas depreciation (multi family RE, almond orchards etc) : There was a comment on another fatFIRE thread about letting a spouse run an almond orchard to reduce taxes - can someone that has tried anything like this tell me more? +* QOFs : I get the tax benefit but am curious how people source credible opportunities (I am fine with 10 yr lockups but am more worried about whether intermediate NAVs are real) +* CRE + leasehold improvements +* Other investment options +* Defined benefit plans +* DAFs +* GRAT/IDGT +* PPLI, Captive Insurance +* Conservation easements : given the audit risk is it safe to ignore? Any other schemes like these to watch out for? +* Home office deduction : it is miniscule (<1%) at this tax bracket so is it worth the audit risk even if it is legitimate +* What are some specific things to explore given the potential Biden tax plan? +* In general for the above options, which ones also scale well and provide a good return on time (e.g. 100 hrs spent to save 50K in taxes is a wash for me since the return on time is higher/traceable in my business) +* I am also looking for (tax planning) service provider recommendations if they are experienced with this kind of profile (could you please post names if permitted by the current rules or DM me?) +I am 46 and my wife is 36.  We are planning a move from Indianapolis to the Big Island.  We absolutely love the state of Hawaii and it is where we want to be. The question is "how much home to buy?" especially if I am shedding the corporate grind (i.e. the bulk of our w2 income).  I will very likely trip into a way to make money over there ... but not on purpose.  My wife is aiming for part time work in a bank to get the Medicare/Social Sec credits she still needs. + +We now have a net worth of $2.8MM, $2.75MM is invested in (mostly) index funds. + +We love the outdoor adventure possibilities of the BI and see it as a shrewd investment now that Maui, Kauai and Oahu are sold out (lava notwithstanding!). Living in Hawaii now makes sense because I am not sure I will have the physical zeal at age 60+ to do the hiking I want to do. + +Given that we are frugal by nature, biting off the $990K home we want (50% down, finance rest) is tough to do, from a mental gymnastics standpoint.  In Indiana I would never dream of this size of purchase.  Hawaii is a different animal and serious (or market level) appreciation is a definite possibility.  A rental unit on the grounds of this home would soften the purchase too - it will likely bring $1400/mo.  Air BnB would be our first choice but we will aim for a long term renter in case Air BnB is banished ... I predict it will be as the islands are saturated and locals can find few housing options. + +How much home would you smart people purchase in this hypothetical? Or, would you simply stay planted in Indiana and plan to travel the planet four to five times per year? We do not hate it here. We do hate the bitter cold and icy winters. + +A 900-1MM purchase with half down would leave after tax funds at $1MM.  Tax advantaged vehicles will stand at $1.25 or so.  We will aim for an 85k/year spend or less, given the ohana/rental income. + +Thanks for your input. +After a few years in the workforce as a W2 employee (I am currently 32), and following this sub along with /r/FI, I've got my finances in order. I am educated with a doctorate and my salary is a comfortable $125k in a LCOL. Household income (DINKs) is right at $200k. I just started maxing my 401k, and if I include my employer match it equates to $30k per year (yes my employer matches an insane amount). So far, so good. Debts are a bit high...combined (SO and I) student loan debts of $175k at 6%. No other debt. We also rent, as we do not own a home. + +Here's my debate: I want fatFI money. $10M would be nice, but I'll be satisfied with anything above $2-2.5M. The sooner, the better. Running projections at 7% YOY growth, I will reach the $1M mark in my 401K in 15.75 years and $2M in 23.5 years. That is, I could literally spend all other take home pay, and my SO could too, and we would still arrive at those figures. (We would never do that -- are very frugal). + +This is very comforting, but on the other side of the coin I'm conflicted. It's nice to know that I can kick back for the next 23 years and then RE if I wanted with $2M. But somehow this isn't enough for me. Because it's so easy to just stay good at my job for 20 years and retire comfortably, it is enticing. But I know this is middle-class thinking. I'd like to be able to RE (which to me, means moving on to other ventures -- not just sitting around doing nothing) with $10M. Does anyone else struggle with this? Part of me wants to roll up the sleeves and build a business or something of value. I have ideas, but I don't share them with others and tend to let them die quickly as I'm an over-analytical academic and mostly see the barriers rather than the possibilities. I'm also probably 3-5 years out from having kids, and knowing that I'll have stability when they come into this world is comforting. I really need another like-minded person to push me. I need to meet someone who I really resonate with and we could encourage each other to take the leap and build something of value. The thought of doing it alone always leads me convinced that going the easy route is the "right" way to do it. But the easy route won't get me $10M. + +Throwaway account for obvious reasons. Please help share your insight. I'll be happy to clarify anything I might have left out. Thanks! + +EDIT: I have grown up middle class, and thus still am. I'm enthusiastic about devoting my energy to bringing my future family into a higher social status. I have very strong work ethic. SO and I are frugal now, but part of the allure of collecting $10M is to have a nice house, car, and take nice vacations 2-3 times per year, eating out at restaurants any time, etc. We want to upgrade our lifestyle eventually, within reason, but the thought of putting it off for 20-25 years isn't very fun. +While I've kept an exercise/diet regimen for many years to stay in shape, I have never spent time or money on a fitted/stylish wardrobe. I fatfired several weeks ago and now have the time and resources to finally do this. + +Question is, do I try doing it myself or hire a stylist? + +Naturally I want to have my cake and eat it too - ie in this case I don't want to spend much of my own time researching brands, trying on clothes, etc; and yet notwithstanding the fatfire I don't like the idea of spending a whole lot on a stylist who may not add much value. I'm definitely not looking for anything esoteric, trendy or unnecessarily high-end; just trying to get a well fitting, timeless wardrobe and not think about it again. + +Those who have revamped their wardrobes, please share your advice. Did you DIY or employ a stylist? If so, how much did you spend and would you recommend it? +I've been active in this space for the majority of this year, I've been a bull on cryptocurrency through and through, and yet the price swings of Bitcoin over the past four days have shook my beliefs. + +There are currently 1338 cryptocurrencies listed on CMC. Why? Almost every one of these has gained value in the last year. Why? Bitcoin, the first mainstream cryptocurrency, is still the top dog in market cap. Why? + +I want to live in a world where I am able to freely transact in a digital currency that is decentralized, secure, and infinitely scalable, most of us here do, but what currency will this be? + +Ten years from now, I believe blockchain technology will have already greatly affected and entrenched itself into the corporate retail and financial spheres. Major banks and corporations are already seeing the cost- and time-saving benefits made possible by their adoption of projects like Ripple and OmiseGO. Product distribution chains are seeing the same benefits through projects like WaltonChain, VeChain, and Modum. Yet, I fail to see the tangible value proposition to an investor in holding coins with this sort of focus, and maybe more importantly, why there should be. + +Somewhat similarly, I fail to see where most (all?) fiat-replacement-focused coins ascribe their value from in this stage of the cycle, when, unless I am wrong, they are not seriously being accepted as currency by any government or any corporation, only sometimes between individuals. More importantly, I fail to see how it is possible that any decentralized, blockchain-based coin can be used in this purpose on a global scale, as the recent Bitcoin and Ethereum network congestion and consequent fee hikes have led me to believe. + +Thinking of a crypto more similarly to a stock, as a stake of ownership, and exchanges like stock exchanges doesn't make sense to me when considering value because the value of a network, and thus its constituent parts, unlike the value of a company and its constituent parts, is not tangible like a company's market value. Thinking of a crypto more similarly to a fiat currency, and exchanges like forex markets, also doesn't make sense because none are used in the same way a government controlled and mandated currency is, and it's possible that none can be. + +Also, when two animals share the same niche in an ecosystem, competition occurs, and only one remains by the end. Fiat currencies essentially have the same niche, but their ecosystems are different: different countries. When the market is global, and hundreds of cryptos are vying for that top spot, of actually being "currency", it's not unreasonable to think that only one will win that contest. I believe that, to win that contest, it is imperative that the one foremost crypto*currency* of the future will be decentralized, secure, and infinitely scalable. Current blockchains aren't infinitely scalable; some blockchain-based cryptos are more scalable than others, but they all have their limit. The one crypto that promises infinite scalability and zero-fees, Iota, has issues in the other two departments. + +This all brings me to my final questions. If your coin doesn't represent information relating to something tangible, isn't a security, and isn't a currency, where does it get its value from? If it has value, how can you determine if its price is undervalued or overvalued? If you find your coin's value in speculation of future value, how can an open, blockchain-based currency win in the future? + +Sorry if this post has become rambly. I don't expect someone to answer all the questions I've phrased here, but I'm looking forward to a discussion on the valuation of current cryptocurrencies. +Hello there, a year or two ago I have heard stories about people regretting selling their bitcoin early or throwing away their hard drives which contain millions worth of btc. Back then I just assumed that btc was already at its peak and out of my reach so I did not bother checking up on it, I was a working student back then. Suddenly a week ago my friend told me that I should buy btc and learn about cryptomarketing, he started buying btc about a year ago where it still cost around $700, he bought 4. I checked up on it and saw that it already costs around $3500, I regretted not looking it up a year ago! I noticed that it has been declining at a steady pace for a while now, I want to join but I am afraid it might be too late. So I am asking everyone here for an advice on whether or not its too late to invest in btc or alt coins? Thank you. +So yeah, woke up this morning to find my account of 1.5 btc comprised and just wanted to know what are you guys' thoughts on how it could have happened. + +Granted, it was my own fault for not having two-factor authentication implemented but to risk it from happening again, I'd like to find out how it went down, so yeah no need to remind me of my stupidity. + +This is how it all went down and I appreciate any input. + +So as I stated, my bittrex account was only secured by my login password. This morning I woke up and tried to access my bittrex account as usual. I have my login and password infos saved to chrome so I've never had to input any of my login infos. As I click to log in I am prompted to enter a two factor authentication code which I've never implemented, imagine my suprise. By this time I realize that I've probably been hacked so I visit my email for confirmations. I see nothing new in my inbox but find newly deleted messages in my deleted bin. There I find 3 deleted emails: one of bittrex informing me of a new IP login, one of a notification from bittrex that a two-factor authentication has been implemented on my bittrex account, and one from my email provider telling me that there was unusual sign-in activity onto my email from some IP in Argentina. All three of these emails were sent the in the afternoon of the day before, all with in 10 mins of each other. Now I realize that not only was my bittrex account hacked, my email was also. I do not have new email notifications turned on on my phone due to large amounts of emails received so by this time it has already been ~14 hours since my accounts have been comprised. + +Here is why I'm slightly confused. I am pretty sure that I have not input either my email login info nor my bittrex account info on my laptop that I use, which is a macbook. My email has been bookmarked with the password saved for forever, and I've never had to input my login details for at least months. I've also checked my browsing history to confirm that I've not been on any bittrex phishing sites. My login infos for bittrex are too, saved on chrome, so I've never had to input those as well from since I joined up with them, which was for 3 days approximately. Also my password for my email and bittrex are different. I have not downloaded any add-ons for chrome. So the question is how could the hacker have gotten both my bittrex and email passwords? + +The only possibility that I can think of for how has happened is that I logged in my email manually once last week using my family desktop that is rarely used. But even then I am very careful and sure that I entered it in the outlook site. But I've also used that email to sign up for a bunch of ICOs via slack in the past two weeks with the same password which I used on my bittrex account. + +So I am assuming that there was a malware/keylogger on my PC that caused my logins to be comprised, or could there have been something up with my macbook that I missed? Lesson learned to always use google authenticator but damn, at least I wanna know how I got got. + +I've filed a support ticket with bittrex to remove the two-way authenticator on my account so I can login and see what shitcoins he bought with my account at absurd prices to steal my money since that's what others seem to have endured. There was no withdraw confirmation in my email. + +TL;DR + +Both bittrex and email used got hacked with different passwords. Hacker went on my email and tried deleting evidence. Assuming that I've lost 1.5 btc which wasn't THAT much but still enough to make me feel retarded for not using google authenticator like I have been for other exchanges. Wondering how it went down. +I’m a huge Ethereum fan before anyone gets at me in the comment section, but I’m also a realistic man that addresses an issue once I see it. + +Something like this shouldn’t be the problem of the people minting. They’re literally using the blockchain for what it was made to serve. If that blockchain is bad at handling traffic then it should be the blockchain’s problem. + +I get it, BAYC should have used another method and given the current market circumstances, people minting should be using low cost minting platforms like Unique network and other NFT scaling solutions. + +But we can’t stay pushing that narrative all the time cause then we won’t be addressing the issue that Ethereum is in fact bad at handling traffic and that we need to solve that issue. +Hi guys, let's imagine that your friend asked you, which three coins to invest in, what would be your advice? + +I would recommend SOL, NEAR, DOT, and you? + +Looking to diversify my portfolio, don't have much money so I try to make everything count instead of just throwing around fiat. + + +Currently holding NANO, IOTA, ADA, NEO, XLM, REQ and ARK + + +What are some pros and cons of WTC, Vechain, Icon? I'm not such a technical guy so please keep explanations relatively simple. + +Given the current technology it seems odd to me we pay fees for trades... +Is a p2p network which allow users to exchange cryptocurrencies in a decentralized manner feasible/exists? + +Looking to diversify my portfolio, don't have much money so I try to make everything count instead of just throwing around fiat. + + +Currently holding NANO, IOTA, ADA, NEO, XLM, REQ and ARK + + +What are some pros and cons of WTC, Vechain, Icon? I'm not such a technical guy so please keep explanations relatively simple. + +Please use this thread to have discussions which you don't feel warrant a new post to the sub. While the Rules for posting questions on the basics of personal finance/investing topics are relaxed a little bit here, the rules against memes/spam/self-promotion/excessive rudeness/politics still apply! + +Have a look at the [FAQ](https://www.reddit.com/r/financialindependence/wiki/faq) for this subreddit before posting to see if your question is frequently asked. + +Since this post does tend to get busy, consider sorting the comments by "new" (instead of "best" or "top") to see the newest posts. + While many traditional investors understand and agree with the philosophy of crypto, they are afraid to own it due to the implied volatility and unfamiliarity of the asset class. However, stablecoins pose to be a solution to this problem, and it may just be the Trojan Horse needed to introduce non-believers to the crypto rabbit-hole. + +So what exactly are stablecoins? + +Stablecoins are cryptocurrencies that are pegged to a specific asset class, such as commodities or fiat currencies. This allows investors to jump into the world of crypto without having to worry about depreciation or the volatility generally associated with the crypto asset class. + +However, just because the price remains stable doesn’t necessarily mean they are risk-free. In fact, investors need to fully understand the underlying asset risk behind stablecoins before investing in one. There are primarily 4 types of stablecoins: + +1. Fiat-backed stablecoins: Fiat-backed stablecoins are backed by fiat currency such as the U.S Dollar, and are relatively steadier than the others due to this correlation. However, the downside is that these currencies are not truly decentralized, since the underlying asset is linked to a centralized institution such as the Central Bank. A great example of a fiat-backed stablecoin is USDC or U.S Dollar Coin by Coinbase. +2. Crypto-backed stablecoins: crypto-backed stablecoins use cryptocurrencies as collateral in order to keep the price stable. In most cases, these will be overcollateralized, meaning that there will be an over-allocation of the underlying crypto asset to deal with any selling pressure. The main risk here is that if the underlying assets drop enough, then these stablecoins will ultimately lose their value. So as an investor in crypto-backed stablecoins, it may be a good idea to also keep an eye on how the underlying asset is doing. An example of a crypto-backed stablecoin is DAI, which uses ETH as the underlying crypto asset. +3. Precious-metal stablecoins: Precious-metal stablecoins use commodities such as gold as the underlying asset for the crypto token. The price doesn’t necessarily have to remain stable for these tokens and can instead track the underlying commodity in a 1:1 ratio. In a way, they can act almost as ETFs for the commodity, allowing investors to gain access to a financial asset such as gold without having to take on the burden of storing it. Digix is an example of a stablecoin that tracks the price of gold. +4. Algorithmic stablecoins: Algorithmic stablecoins use algorithms in order to bring stability to prices. Many coins will use algorithms that increase or decrease supply based on the demand in order to accomplish this. Some examples of algorithmic stablecoins are AMPL and FEI. + +So why do we need stablecoins? + +Stablecoins provide an entry point for traditional investors who are interested in dabbling with crypto. Since there is a familiar underlying asset behind these coins, traditional investors can feel relatively more comfortable buying them when compared to something new such as Bitcoin or Ethereum. The volatility, or lack thereof, is also attractive for a lot of investors who just want to get started with crypto and earn some yield by holding or lending their money. + +Beyond that, stablecoins also provide functionalities such as fast transfers that don’t require financial service fees or traditional banking applications. Centralized stablecoins can also be thought of as simple digital forms of fiat currency that don’t require a bank account to store. For individuals who want to be truly bankless, stablecoins are the perfect solution. +I'm sorry if this is the wrong place, if someone could recommend a better place, please let me know. + +Without going into details, my wife and I are separating. She just totalled her car, so she can't get to work. We have no savings left. She is going to be in a psych facility getting help for a while, but when they discharge her she's not welcome in this home anymore (please don't think I'm being the bad person here, I've tried to make it work and keep our heads above water by myself, and I can't do it anymore). + +We live in Pennsylvania. Can anyone recommend resources that I can provide her with to help get a home, a job, and a car? +What are the benefits for investing in super? I have a vague idea that there are tax benefits, but what are they? + +As I'm wanting to buy my first house ASAP, should I be investing my money in super or in my own share portfolio? Can my super still go towards a house? +UPDATED POST HERE (6/2): [https://www.reddit.com/r/wallstreetbets/comments/nqxtzd/bb\_still\_going\_to\_the\_baby\_updated\_post/](https://www.reddit.com/r/wallstreetbets/comments/nqxtzd/bb_still_going_to_the_baby_updated_post/) + +&#x200B; + +BB - 6/14 Read - Bullish - Neutral + +5-day SG Read + +* Call total - 30% increase (5/25 - 5/28) (A larger call position infers more bullish activity.) +* Put total - 27% increase (5/25 - 5/28) (A larger put position infers more bearish activity.) +* Total gamma - 31% decrease (5/25 - 5/28) (A negative gamma position implies higher volatility in the underlying stock.) +* total delta - 307.865% decrease (5/25 - 5/28) (A negative delta position implies dealers have a net short hedge. When a large net delta position expires, options market makers may have large hedges to unwind.) +* Hedge wall increased to 10 +* 25% of total gamma expires on 6/18 (When a large amount of gamma expires (generally >25%) then the underlying stock may shift away from current prices.) +* 16% of total gamma expires 6/18 + +https://preview.redd.it/a25x7xmqp9271.png?width=3122&format=png&auto=webp&s=9da0d0667045f715e33a691496e341f116e3fa2f + +TA Notes: + +1d timeframe + +* Been consolidating since end of March +* Broke out of consolidation area on Thursday +* Found major resistance around 12. + +https://preview.redd.it/wp7rdt5z6c271.png?width=2998&format=png&auto=webp&s=0887c9dbc748322cea5fb16f76766e809194769f + +65m timeframe + +* Support @ 9.47 **(25%)** \- 10 +* Look for resistance @ 11.24 ish **(50%)** +* if resistance breaks, look for bullish 🎯 - 12.04 **(61.8%)** \- 13.16 **(78.60%)** \- 14.60 **(100%)** +* If support fails, look for bearish 🎯 - 8.70 - 7.88 **(0%)** \- 6.70. + +https://preview.redd.it/3975shbg6a271.png?width=2998&format=png&auto=webp&s=aeff686ac09bfb0274f82e0c9bec0dedf60812cc + +1d MACD + +* Crossed on 5/17 +* Expanded this last week. +* Crossing 0 + +https://preview.redd.it/t2u1s8597a271.png?width=2998&format=png&auto=webp&s=de438de0a9544142015eebeddc2428012b156c55 + +Volume starting to pick up again... + +https://preview.redd.it/pxgteixy9c271.png?width=1334&format=png&auto=webp&s=c15d62f249c434c8cb403967bcfed5e9885b73fd + +Ratios of puts/calls + +* 6/04 - 6/18 really bullish +* Need to see what data comes in this week to see if sellers enter. + +https://preview.redd.it/nftlfcq4ac271.png?width=1318&format=png&auto=webp&s=076bbfeed3d80ebffdd66f5aa508eba31ed6761c + +The shorts are here. + +https://preview.redd.it/obireurvac271.png?width=2002&format=png&auto=webp&s=2653e44b6efa36d049bbf6868322a4c4f9a0f156 + +https://preview.redd.it/aqn0qgsrac271.png?width=1994&format=png&auto=webp&s=f05c503ca58ce39ff9087129adab0aa030a89aaa + +Looking at 12c 6/18 + +Thanks for reading, + +NightMan +Hello AMA/EthTrader/Cryptocurrency communities, my name is Ron Pol. I’ve been quoted in US Senate testimony describing anti-money laundering laws arguably the least effective anti-crime initiative, ever. I wrote the following paper (picked up by the Economist and Forbes), and others, detailing profound failures in the global AML system: + +The World's Least Effective Policy Experiment – Together We Can Fix It. [https://doi.org/10.1080/25741292.2020.1725366](https://doi.org/10.1080/25741292.2020.1725366) + +A 1-para. satirical summary of the paper, in \[my attempt at\] the style of The Onion is here: [https://www.effectiveaml.org/aml-laws-crushingly-effective/](https://www.effectiveaml.org/aml-laws-crushingly-effective/) + +As the cryptocurrency space gains more attention from regulators and calls to subject cryptocurrency users to more stringent AML rules grow louder, my research on the effectiveness of the AML system has become more relevant than ever to cryptocurrency users and advocates. + +For example, there is, it seems to me, a huge “Trojan horse” risk, easily overlooked. While awareness of AML’s failure is growing in the AML community, regulators seldom admit it (at least publicly). So, the crypto community and public don’t know about the huge gap between AML rhetoric and reality, politicians have no incentive to face the real issues, and AML regulations keep metastasizing into more areas without addressing their own core failings. + +Some of the hidden problems are outlined on a Gitcoin page. (It’s also a grant form so I’ve checked with r/EthTrader moderators it’s ok to post): [https://gitcoin.co/grants/3380/effectiveamlorg-decentralize-knowledge](https://gitcoin.co/grants/3380/effectiveamlorg-decentralize-knowledge) + +Please feel free to ask me anything you please. + +Please note, this AMA does not offer legal or financial advice. Any matters discussed are purely academic, and you should not rely on any matters discussed hereunder as legal or financial advice. + +More papers in the series are pinned to my Twitter profile, with an infographic: @ ronaldpol \[Some give free access to the full paper, others to the full abstracts\]. +Let's be honest: Ethereum is very far from being perfect. If anyone believed it to be ideal, the Status ICO has to be fixed this hope. There's an awful amount of work for the team to make it mature. + +However, it doesn't seem that there is any real alternative at the moment. And there is little sense for a programmer learning smart contracts to choose anything but Solidity. So Tezos as an example might be much better technically, but it's not going to help. Everybody will keep using Ethereum just because everybody else is using Ethereum. It's funny that even hardcore Bitcoin fanatics [have to use Ethereum](https://np.reddit.com/r/ethtrader/comments/6iklta/please_boycott_vinny_linghams_civic_ico/) because there is no choice. And it's not going to change soon. + +What I'm saying is that in the years before the tech matures Ethereum will be hated for a number of reasons *(no, Bitcoin maximalists, I don't mean you, the critical flaw of Ethereum for you is that it's not Bitcoin and it will never be fixed)* but it is going to dominate the crypto world much like Windows dominated the desktop world. Maybe one day it will give way to better competitors, but believe me, the descent will be long and slow. + +And while Ethereum dominance doesn't necessarily mean ETH dominance, and the competition on the cryptocurrency market is fierce, but being backed with such a prominent technology ETH is bound to be one of the major cryptocurrencies as people will put trust in it, not because people just want to make quick money like now. +>For years, a commonly cited rule of thumb has helped simplify asset allocation. It states that individuals should hold a percentage of stocks equal to 100 minus their age. So, for a typical 60-year-old, 40% of the portfolio should be equities. The rest would comprise of high-grade bonds, government debt, and other relatively safe assets. +[https://www.investopedia.com/articles/investing/062714/100-minus-your-age-outdated.asp](https://www.investopedia.com/articles/investing/062714/100-minus-your-age-outdated.asp) + +The (100-age)% is traditionally in equities (stocks), but crypto has a role too in this modern age. + +Holding too much fiat is definitely not good, even by conventional investing knowledge! + +According to the same article, "However, at a time when adults are living longer and getting fewer rewards from “safe” investments, it might be time to adjust the “100 minus your age” guideline and take more risk with retirement funds.". + +It seems "safe" investments are no longer yielding enough for retirement. There is definitely a place for volatile assets like cryptocurrency in one's retirement portfolio. As the saying goes, high risk high reward! +WOW! They just went over and over again about Ethereum on Bloomberg West with Erik Schatzker, one of their top reporters. This was massive exposure. Looking for video. + +EDIT: http://www.bloomberg.com/news/videos/2016-05-12/the-winklevoss-twins-add-ether-to-bitcoin-exchange + I've learned a lot over the past year. However, my biggest takeaway is that the average person does not have the mental fortitude to play the investing game. I think the largest reason for that is so many people are living above their means and are, therefore, living paycheck to paycheck. A major dip in the market makes people panic because they are over-invested and they know it. They aren't investing, they are gambling. + + + In the US we are currently $20 TRILLION in debt. That's not even the whole picture because our government doesn't accrue for its unfunded liabilities. Add those numbers in and we are rapidly approaching $200T! Recent statistics puts 80% of Americans living paycheck to paycheck and that around 5% of Americans are over 90 days behind on their auto loans. And if you're not an American reading this and laughing, the statistics aren't any better for most European countries. Something has to give eventually. + + + It's interesting crypto had this massive sell-off now. It may come back, it may not for a long long time. It appears that we are in consolidation period and the bottom may already be in. I don't know if crypto could ever be considered as a hedge against the traditional markets, but I do know this: if you've been around crypto since 2017 and you zoom out on these charts, it should look familiar and it doesn't look good. + +https://www.tradingview.com/symbols/NASDAQ-AMZN/ + +https://www.tradingview.com/symbols/NASDAQ-MSFT/ + +https://www.tradingview.com/symbols/NASDAQ-AAPL/ + + + Equities have been in a bull market for 10 years now. Think about that for a minute. If you're a 32 yr old equities trader on wall street you were probably coming out of college in 2009 at the end of the last financial crisis (yeah the one that was ended prematurely due to "quantitative easing" i.e. manipulation by the fed). You've never traded in a true bear market environment. The next financial crisis will be brutal and long and people will lose their shirts. I don't know when, I don't know what the catalyst will be, but it's coming sooner than many realize. + +So what does this have to do with crypto? + + First, don't be overinvested. Take care of your personal finances first. Live within your means. You can accumulate great wealth from your paycheck if you don't always have to have the "best," newest everything. Pay off your debt first, save up, then invest. + + Second, it does appear that crypto could be a natural hedge against traditional markets. Satoshi created Bitcoin out of the wreckage of the 2008 financial crisis. The next financial crisis will be crypto's biggest test. Don't be so quick to panic sell. We're already down ~80% give or take. There's a lot of room to move up and when equities start dropping investors will look to park their money in other financial instruments. Will crypto be one of those? I think for some the answer will be yes. If even a small portion of the money in equities moves to crypto, it could push the overall crypto market cap way past previous ATHs. I'm not counting on it, but at this point it would be silly to not recognize that as a real possibility. + + Thirdly, diversify. The crypto market seems to be out-of-cycle with traditional markets. I know some people try to make the case that they are correlated; to a certain extent everything is, but I think there's a big enough difference to make some serious money here. When equities, crash, buy in. When crypto moons, don't get greedy and lock in some profit. If you're only in crypto, you're not diversified. Within the crypto market, do your research and buy into projects that will weather the storms of the market cycles...we saw several shitcoins bite the dust this year because they couldn't survive the bear market. + + Finally, don't get too emotionally invested. Spend time with your loved ones. Don't watch the charts all day. You hear about these wall street bankers jumping out of windows; how sad is it that these people didn't have anything else to live for? They lost it all long before they "lost it all" in the market. Don't do that. Keep yourself grounded. Money doesn't bring happiness. It can absolutely enhance the happiness you already have, but you have it have first apart from the money. + + + + + + + +Ladies & Gents, + +I’m taking a week off. No trading, no checking prices, no Ethtrader. + +I’ve deleted Blockfolio so I won’t be tempted to check. I’ve withdrawn all holdings into my Nano, barring a small portion I’m keeping on the exchanges with limit orders in place in case anything drastic occurs. + +I plan to focus this week on life balance: spend some time in nature, get back to the gym, do some reading, and maybe even learn how to cook Sichuan style green beans. + +This will be the second week I’ve taken off from the markets since January when I first got into this, and I can say that stepping away for a bit is incredibly relaxing and revitalizing when you’ve been wired in non-stop. + +In a 24/7, super volatile market that never sleeps it’s *so* easy to get hooked in and obsessed. I can literally spend hours staring at the red and green on GDAX. The movements fascinate me. + +But balance is key to a good life, and I find that when I’m non-stop wired into crypto my sleep and social life take a beating. + +I think it’s important to step away every so often not just for mental wellness, but also for trading because you can only make good decisions in the market if you’re in a balanced state and not operating out of emotions e.g., fomo buying and panic selling. + +If you haven’t tried it, I highly recommend taking some time off. You might just return a better trader. + +I’ll see ya guys on the other side... + +Cheers. + +I remember when this sub used to have 1500+ active members, now we have like 300-400 (which basically means Icy, RayG, raymv, home sweet, Pandora key and the mods). + +Most of my comments now don't get any upvotes, and in the last two days I'm seeing my comments getting downvoted without even saying anything controversial. + +These are either people downvoting or downvote bots, due to the low amount of karma being earned on r/ethtrader the value of an upvote increases and donuts become easier to manipulate using bots. + +Please upvote for the love of donuts, I'll start upvoting almost everything that's not completely low effort and I want everyone to do the same, upvote this post to spread the word. +When you make a demand, and not only is every part of your demand met, but even more is given, that is the ultimate success. BIP148 advocates demanded that miners signal segwit unanimously by Aug 1. With the activation of BIP91, that goal appears to be imminent. As of writing this, all pools appear to be signalling. + +First, I would like to thank /u/shaolinfry for his inspiration in the formalization of UASF and BIP148. Without him, we wouldn't be here. + +I would like to thank Charlie Lee for getting the ball moving on Litecoin. Seeing the power of a UASF in action gave a lot of courage to the rest of us. + +I'd like to thank Samson Mow for his hat campaign (and a hat)! These hats grew larger than life and became a symbol of a movement. + +I wanted to give a special thanks to /u/luke-jr for being such a strong advocate and making such a convincing case for BIP148. I was ready to give up until I was inspired by Luke and became more inspired than ever in this fight. + +I'd like to thank /u/lightsword for getting BIP91 into btc1. Without his efforts, btc1 would never have been able to activate SegWit. + +Lastly, I'd like to support all the users who have been supportive and advocates for BIP148. You did this. Without help from Core (in fact, even many members of Core battling us), without the help of mining pools, you forced the miners hands, forced the NYA to comply with BIP148. Without such strong activism, BIP148 would have been ignored. + +The story of SegWit will no doubt be twisted by those seeking glory. We all know the truth. We all know that the entire reason for BIP91 in btc1 was due to BIP148's threat. They will give a few miners a way to save face while the other miners will simply run a patched Bitcoin Core. We got everything we wanted. + +I've seen a few /r/btc sockpuppets also trying to claim victory, claiming they fired Core. If anything, the success of BIP148 shows that Core is not in charge and the community is. No one can fire volunteers. Their dishonest claim of victory is apparent - they have gotten NOTHING out of this. They opposed SegWit, yet SegWit is inevitable. They wanted a hard fork, and the hard fork can be safely ignored. They wanted larger blocks, and they are getting the SegWit compromise of using block weight. The only thing they got was a new client (of which there already were dozens) that will likely be abandoned soon. There are no competent developers (other than Hilliard, who was simply getting BIP91 in) working on the project. They have little understanding of how Bitcoin works and even required being bailed out by Core a few times to even get something functional. The only thing they got was a miner commitment to hard fork (miners have done this before, yet I see no hard fork),and a few businesses saying they will hard fork. Even if there was a hard fork, its far from what they actually want - they claim 2MB blocks are too small anyway.. + +But we must stay vigilant. They will try to spin this as a mandate for a hard fork. We must be prepared to ignore it. The good news is, no one can force you to support a hard fork. So celebrate, but make sure to share the truth. They will claim victory, and claim they are in charge now, but in reality, we all know who is - you are. Don't give that up. +This is the number one indicator that the squeeze hasn't happened yet. If the shorts supposedly closed on Wednesday, why would they sell off their shares in the rest of the market on Thursday and Friday? Clearly the play is to close some of their other positions in the hopes that the overall market downtrend would drive GME down. Well unfortunately for them, they underestimated the diamond hands of WSB and we finished in the GREEN on Friday, putting every single 1/29 option that was written before Wednesday ITM. If you look at the charts, SPY dropped JUST as GME turned around in the market. This means that the funds knew that they would have to close out on Monday and raised their cash positions on Friday near close. + +70m shorted shares at $300 a piece is $21b. On Friday, according to the order books, just $50m would had raised the stock to over $700. Take it as you will as to what the real squeeze target is. + +TLDR; Market Red is Good for GME + +🦍 wants 🚀🚀🚀🚀🚀 I love ❤️🎮💎 +I want to preface this by saying that I am of course not an expert, and this is not financial advice, but simply general information and advice that I have gathered over the years. I first invested in Bitcoin when it was at $3000, and would be retired if I had simply held until today, but of course, I did not and made many mistakes along the way! From losing access to a wallet with shitcoins that had gone up 5600% in 2017, to day trading thousands down the drain, I've done a lot of wrong, but I have also never been as passionate about something as I am now about Blockchain and Cryptos. I'm still very far from retirement, but I am beyond excited for the future. + +Here are some tips about Security and Investing in Crypto that I hope can help some of you out there! + +**1.** **Wallets and Security.** This is probably the most important part for anyone new to this. Getting setup to enter the world of Cryptos can be tricky, and seem overwhelming at first, especially because you want to make sure your funds are secure. Luckily, there are a lot of resources out there to help you understand it, but here are some of the most important parts to keep in mind. + +* There are many types of wallets out there, and you will hear terms like "Cold Wallet" and "Hot Wallet" a lot, as well as hardware, exchange, browser, and desktop app. All of these function in similar way, but the way YOU access them is what's important. For the vast majority of wallets, when creating it, you will be given a phrase that consists of 12-24 random words. This is your "**Seed Phrase**" or "**Mnemonic Phrase"** and it is the **MOST IMPORTANT** part of your wallet. It is what will be used for wallets to get your **Private key**, which will give you complete access to all your Cryptos on that wallet. +* **YOU. MUST. NEVER. SHARE. THIS. WITH. ANYONE.** There will **NEVER** be any reason for an exchange, an APP, a website, Elon Musk or your long lost Rich Uncle to EVER need this information. There are no such thing as Giveaways that will give you free anything for this information either. **Your Seed Phrase and your Private Key are 100% ownership of YOUR MONEY**. You can note it down on paper, on metal, or create a complex secret algorithm for you to remember if you want, but keep it safe from everyone, and also, very importantly, from being **lost** or damaged. You can make tons of copies and put them in [vaults across the world](https://www.investopedia.com/news/how-winklevoss-twins-store-their-crypto-fortune/), but you must be in control of this completely. Another solution is using a Hardware Wallet, which will basically act as a lock, and you will have to use the hardware to unlock your wallet. No one without that piece of hardware will be able to get into your wallet, but then again, you will have a backup phrase to recover the Hardware wallet if lost, which, once again, will be something you must keep very safe. +* The only security concern other than human error with this type of security is if your computer or mobile gets hacked, specifically by a Key Logger, and then when you enter your key to recover or import your wallet, you will ultimately be giving your key away to the hacker, and lose everything. This is why many suggest using a clean machine to do Crypto stuff. That means a computer that doesn't do anything but Crypto. No games, no Facebook, no Pornhub, no Roblox, nothing. but. crypto. Also best to use general security tips for online browsing, keep your stuff up to date, and NEVER download or click any links from any telegram groups, reddit posts, twitter post, ect, especially if related to Crypto, unless you trust it 100%. +* This brings us to Exchanges, and as they say, not your keys, not your coins. This is true, and while its generally safe to rely on exchanges, there have been numerous times when people have lost everything. Mt.Gox and QuadrigaX are some examples of when people lost everything due to the exchange getting hacked or scam from the owners. Exchanges are also businesses, and are centralized, which means they care about profit more than about you, and there has been plenty of fraudulent ones in the past. In any case, you MUST activate 2 Factor Authentication when using an exchange, and it is highly recommended that you use the Authenticator Apps, and not the Mobile 2FA (as people can clone your SIM and get the 2FA). This will make it so that no one can access or withdraw your money from exchanges without the physical phone that has the App on it. Note that Decentralized Exchanges (DEX) like Uniswap are a good alternative to those because you can buy cryptos directly from your wallet instead (Metamask and Trust Wallet are some of the most popular ones for this) +* Once again, you will NEED to secure your Backup Phrases for these Authenticator apps, for every exchange it is linked to, in case you lose your phone. Of course, you must also be secure with your password and create unique and complicated ones, though, on the bright side, if you lose your info, most exchanges can help you recover your account (though some like Binance have terrible customer service and will take a long time, if ever). The general consensus is that, when using exchanges, it is best to transfer funds to it, buy and trade for whichever Cryptos you want, and then transfer them to your own wallets, since holding large amount of funds in an exchange long term can be risky. When doing this, try to be careful about Fees because doing cash-crypto-exchange-crypto-wallet can add up to multiple transactions and cost you more than you think. + +**2. DYOR. Do Your Own Research.** + +* There is a goldmine of information available online about every possible crypto project, and plenty of shills and bots who will want many people to purchase their favorite project so that they can make the big bucks off of you. There are also plenty of bots, scams and rug pull where people create coins with a fancy looking website and everything, only to cash out and disappear with millions (have a look at all these Crypto Moonshot subreddits for examples). +* There are also plenty of people who shill their projects due to passion and excitement (me included). There are TONS of amazing blockchain and crypto ideas out there, and some are truly game changing. A lot of the advice will be actually good, and can make you money. That's why its important for you to always DYOR and try to check both sides of the story. Dig deeper, look at the number, volume, Marketcap, team behind the project, their LinkedIn and experience, use case, adoption so far, and so on. I personally try and focus on project who have an actual real world product. During the Bullrun of 2017, every project was the "next big thing" yet the vast majority of them don't exist anymore, except the ones who were actually building something that has value in the world right now. +* Lastly, the vast majority of people who make a living shilling their favorite coins to you (like a lot of Youtubers) usually have ulterior motives, though, there is still some valuable information that can be gained, especially from them interviewing CEOs and such. + +**3. Moonshots and Marketcaps** + +* If it sounds too good to be true, it usually is. There are tons of project who will turn your $1000 into 100k or even 1mil over time, but usually, if you hear about it from tons of people shilling it, its too late. You will often make these types of gain when you get in and can find barely anyone talking about it. The bull market is unpredictable, and very volatile, but not every coin can do a 1000x, no matter how good they all are. Also remember that for everyone making tons of money on Crypto, there is often someone losing tons somewhere else. +* The most important thing to keep in mind when wanting to know the potential of a coin is the Marketcap. You calculate this by taking the Total Supply of a coin and multiplying it by its price. If your coin is worth 0.01 cent each, but there's a 100 billion coin available, its Marketcap is at 1 Billion. Now think about what a $1 a coin would mean for this project. 100 billion Marketcap. That's half of what Ethereum is worth. Ask yourself, does it really deserve that spot? Is it actually being used and adopted enough to be one of the most valuable cryptos in the world? Very often, the answer is no. Can that project grow and get there one day? Maybe! But in a week from shilling the reddit daily? No. There are of course exception, and the market is not always rational, but generally speaking, projects don't go from being 225 in Marketcap to being as valuable as Ethereum in a few weeks. +* Find yourself real projects with good value that you believe in for the long term, follow their development, engage in discussion about it, join the telegram and follow their announcements, and enjoy the gains when they keep releasing things as they promised, and you will be better off in the long run than trying to throw $100 at every $SAFEOBJECTS and $ZOOANIMAL#123 coins in hopes that you are the one pulling out your money first before it crashes. + +**4. HODL** + +* You will hear this a lot, and it is generally the best strategy for regular people like you and me. Year after year, Cryptos like Bitcoin have shown that holding them over a long period of time has always granted more gains than any other strategy. The vast majority of people who try and trade and sell at the top only to rebuy for cheaper get burned. Do not become the Buy High Sell Low meme, and invest in projects that you believe in for the long term. Its perfectly fine to diversify, or even to switch some holdings around when you discover new projects, as well as **taking profits along the way** when coins are blowing up, but Day Trading works for less than 5% of people who attempt it, and if you are new in the scene, you are not part of that 5%. +* Also remember that everyone is a genius during a Bull Market and every project is the next 100x, but as I said earlier, projects with real fundamentals are the only ones who have survived past bear markets. We will one day reach a point where real world adoption of a Blockchain Project will be what drives the price up, instead of hype. I ultimately plan on holding on my own portfolio, forever, while taking small profit here and there, because I believe one day our entire economy will be ran through the Blockchain and there will be no point in converting it to FIAT (those pieces of paper people call money that are backed by nothing and that are worth less and less every day) + +**5. PRIVACY** + +* Your Portfolio is not your Instagram page, keep that shit to yourself. I cannot stress this enough. **DO NOT SHARE HOW MUCH YOU HAVE, OR WHAT YOU ARE WORTH, ONLINE, EVER**. +* The world is a scary place and there are a lot of people out there that will rob you blind and not give it a second thought. Here is a little story: + * You go on Reddit right now and share that you have 0.5 BTC and 2 ETH as well as shill your favorite project in which you got a million coins for pennies. No Big Deal right? + * You also go on a subreddit about cats and share pictures of your cat in your yard, and go on your local's city subreddit and share about where you live and what school you went to, next in between calling people Apes on WSB, you talk about gaming and something unique that happened to you once on WoW and share a screenshot of your account, and so on. + * Fast-forward to 2023, when your net worth is now at over 3 million and someone tracks down your post history and finds out exactly who you are and what kind of wallet you use, what your yard and street looks like, the breed of your cat, your mother's maiden name and your online handle cause you were a blabbermouth in 2021 + * One day you come home to find that you were robbed, and they stole your Ledger and that little piece of paper with all your private keys. Congratulation, you doxed yourself and lost all your crypto! +* All of this to say, when interacting on the internet, we share way too much about ourselves, and could end up making you a giant target for thieves as well as hacker. I can guarantee you right now there are plenty of hackers who will target you for some scams and get a keylogger on your PC or Phone after you reveal how many BTCs you have, and there have been stories of people being hurt or abducted for their crypto to be taken away from them before, and there will be plenty more in the future. +* BE SAFE AND BE HUMBLE! Feel free to share what project you are passionate about, and why that is, have discussion and arguments about its future, but you don't need to go into details about your position, and lets be real, the majority of us don't have huge amounts, but it could one day be huge and you do not want to put a target on your back. +My husband and I have a rule (now) that we don't loan money to family or friends. We are as generous as we can be when a loved one is in financial trouble, but we always make peace with the idea that we will never get that money back. We are middle class, but his mom and sister are working poor (definitely not dead beats but always paycheck to paycheck with few luxuries). + +This mental attitude helps when my MIL buys something for my children even though my husband just spent $1200 fixing her car. If she owed us that $1200, I would be annoyed that she "wasted" $10 buying ice cream for the kids. But when I remember our decision, I can relax and watch her help my laughing 2 year old eat. And I know that his memory and my daughter's memory of their grandmother will be worth a lot more than money. + + + +But honestly, sometimes it takes a heated minute or two to remember our decision. +Proterra is a leader in heavy-duty EV buses, vans, and garbage trucks. Daimler has a huge investment in it and BMW has a smaller position. Daimler sees Proterra as a way to electrify its Freightliner line to compete with Tesla Semi (NKLA is not considered a legit competitor). Proterra actually has production vehicles, not vapor-renderings. + +Proterra announced it's exploring an IPO via an acquisition by a blank check company [\[SOURCE\]](https://www.reuters.com/article/us-proterra-m-a/electric-bus-maker-proterra-considers-deal-to-go-public-sources-idUSKCN24N2YR). + +Hennessy Capital filed a disclosure with the SEC the next day stating "We have entered into a letter of intent with a prospective target for an initial business combination in the electric vehicle (EV) and advanced mobility sector" [\[SOURCE\].](https://www.sec.gov/Archives/edgar/data/1750153/000121390020018332/ea124440-pre14a_hennessy.htm) + +HCAC has 5 weeks to announce an acquisition, file an extension, or dissolve the SPAC and return investors their money. So the downside risk is only about 10%. + +I've made a killing on other EV stock (TSLA, SHLL, PLUG, WKHS) and I think HCAC is going to have the biggest return of all of them over the next 6 months. + +Positions or Ban: [verified.](https://www.positionsorban.com/snapshots/9618f533-77c3-481d-9cee-b28e880b4cf0) + + +TLDR: buy $HCAC shares. You could also buy warrants (higher upside, but possible big downside, almost no downside with shares in the short term). + +EDIT: getting lots of PMs, so here’s my update: I’m still holding. I haven’t sold a single share. I like Canoo a lot. I think once the ticket change happens and the PR campaign begins, $CNOO should follow the rocket trend of all the other EV success stories. + +And yes, I also own TSLA (biggest holding), SHLL, Fisker, Workhorse, Plug, Li Auto. I got out of NIO and NKLA. I’m considering XPEV. +I’m curious if those who have actually retired early created some sort of two-year plan, five-year plan, or something like it with retirement as an end-goal? A common question here is “do I have enough?”, etc. and I’m curious if those that created a concrete plan were able to make the retirement decision more easily. + +If you made a plan and used it to guide your early retirement timeline, what was it like? What kind of milestones did you include? +My annual tax return includes maybe ten components - income from rental property as well as associated costs, interest, early stage tech investments which carry tax benefits, some crypto, etc. + +I've tried a couple of accountants and have found that I have to stay totally on top of them myself to make sure that they don't miss anything. By this I mean I keep a full spreadsheet ledger of every relevant transaction, split by category, by property, etc. I then keep a folder of all supporting documents all neatly organised and named. So basically all the work is done and they just take the numbers from my spreadsheet and turn it into a tax return. + +That's a whole bunch of work for me and it feels like what they're supposed to be doing. And yet if I don't do it, I find they will miss stuff and make mistakes as they just don't learn the details of my personal finances as much as I do. + +Does everyone else here do the same thing? Do you meticulously track and record every relevant transaction yourself? Or do you just send a bunch of documents to your accountant and tell them to tell you how much tax you owe? +For those this applies to, would love to hear how you got into it. I own a couple four-plexs currently, but have been reading up on commercial lately - residential, but also retail, offices, etc. + +&#x200B; + +I learned about residential REI through biggerpockets, various meet up groups, and building a small network of friends who do it as well. But I'm at a loss when it comes to commercial (especially non-residential), outside of reading books on the basics. For those investing in commercial, how did you learn the ins and outs? I've been thinking of networking with some brokers and look at different properties while having them 'mentor' me, but this feels like a tall order to request. Thanks! +Hi all. I’m 34f. +I have probably $40k in stock & retirement accounts. My husband thinks there’s an inevitable stock crash coming and also thinks digital currency will devalue my stock. He saying I should just liquify all of it because it will not grow and I’d be better off having it In silver and cash. + +Fwiw, I don’t completely trust his judgment in money. I run a successful business, retirement, and an emergency savings and my father is a banker. My husband doesn’t save, only buys silver and only deals in cash. No retirement plan because he thinks we won’t be able to? He thinks collapse (in the US) is coming so he is focusing on that. (I don’t agree with this.) I do have some silver, but I’m not obsessed like he is. I understand that it will hold value- but we have an infant. I’d rather have the cash than the silver at this point. + + However, do you think there’s any truth to what he’s saying? Should I liquify any stock? I don’t really want to. I’m more a fan of keeping things diversified. Or do you think he’s just being overly paranoid? + +Would love your thoughts. Thanks! +Hi! + +I know this isn’t a big deal to a lot of people but I was excited and don’t have anybody else to share with. + +I graduated about 3 years ago with about $40,000 in student loan debt. I’ve spent the time since then working 2-3 jobs at a time and keeping a strict budget and as of my deposit today my net worth is $3! + +Just wanted to share my good news and hopefully encourage people here to keep working and say that we can crawl out of anything! + +Have a blessed thanksgiving everybody and keep grinding! Yeah +I would like to purchase the maximum $5,000 paper Series I Saving Bonds using my federal tax return. The problem is that my refund is usually less than $2,000. What is the proper way to increase my tax refund to take full advantage of this opportunity? +Believe me when I say that I'm trying to make this as simple as possible because investing is complicated already. If I'm looking at a company's book value (shareholder equity) and I'm trying to see if it's bigger than the current market cap, do I just literally look at one and then look at the other to see the difference? Do I have to crank out an equation to see if one equals the other or is it as simple as just keeping your eyes a little bit more open? + +Yes, trying to figure how exactly *how* much a security is undervalued or overvalued is the goal. And none of the analytical work can really be backchecked (you really have to trust what you know and that's a problem when you have **zero** background in this stuff and **zero** business experience at all), but how much simpler can you really make this *without* losing something substantial in the analytical process? +Special shoutout to /u/UnempRetardaddy, who inspired me to write up this explanation. Unfortunately, WSB investors have picked up some half-truths with limited information, and are reaching a whole bunch of incorrect conclusions which they're using to justify advice to other traders. BAD MONKEYS. + +&#x200B; + +TL;DR: + +* Short attacks are real +* Short ladder attacks are not +* Any stock that falls 10% in one day (edit: compared to prior days close) is placed on a short-sale restriction for the remainder of that day and the next day +* Short-sale restriction *doesn't* prevent short selling +* It *does* effectively prevent short attacks +* GME was short-sale restricted today, which is why no short attacks could take place to drive the price down. All downward price movement was caused by shareholders. + +&#x200B; + +Let's go into detail: + +&#x200B; + +**Are Short Attacks real, and what are they?** + +Yes. A short attack is simply selling so many shares short that you drive the market price down due to oversupply vs demand. *This works the exact same way as if a shareholder was selling their actual shares, and not borrowed ones.* + +Let's imagine that a bunch of shares are all sold at market price at once. What happens? + +Since they are sold at market price, they automatically meet the bid price offered by the highest bidder in the marketplace, then the next highest bidder, etc. As long as more shares are being sold than there are orders at the highest bid price, then the sale will continue to the next highest bid price, which drops the market price of the stock (market price simply being the last price the stock was sold at). + +If the current highest bid is $100 a share for 100 shares,and the next highest bid on the books is for $99 a share at 1000 shares...Then to drop the market price down $99, I need to sell 100 shares at market price.And if I want to drop the market price down past $99 (to whatever the next highest bid is), I need to sell 1100 shares. + +&#x200B; + +**What are the risks of launching a short attack?** + +When a hedge fund tries a short attack, they are taking a risk that there is more demand to buy shares at current market price than there is supply of shares they are willing to short sell. + +If Melvin tries to short 1 million shares at $100 market price, but 10M shares worth of market price buy orders are immediately placed because people see the price dropping and want to buy the dip, then due to high demand vs supply the share price will go *above* $100, and now Melvin is in the red on their short position. For a real world example of this happening, see TSLA throughout 2020. + +&#x200B; + +**What makes a short attack successful?** + +* Low trading volume - if there aren't a lot of buy orders on the books, there are fewer orders to meet at each price point, and fewer shares need to be sold to drive the price down.*For example: Thurs 1/28, when brokerages halted buying and artificially reduced demand* +* Large supply of shortable shares - there are only so many shares for a company, and only so many of those that shareholders are willing to lend out for short selling. A short seller needs a large enough supply to (temporarily) overwhelm demand.*For example: Despite shorts available for GME being at or near 0, MMs were (legally) allowed to 'naked short', creating artificial supply which allowed hedge funds to short sell at the $500 peak on Thurs (and yes, its as unfair as it sounds)* +* Paper-handed bitches - This is the real key to success. If actual shareholders notice the price dropping and decide to sell as well, it creates a compounding effect, where supply increases even more, and price drops even more, and even more people decide to sell. This can also be caused by price drops triggering stop orders, as well as triggering margin calls by driving accounts below margin maintenance. +* Psychological manipulation - This is a corollary to the previous point. If every shareholder had a sense that the price drop was only due to a short attack, they'd probably hold. But if they see news stories saying shorters closed their positions, that everyone is switching to buying silver, that brokers are halting buying and no one can help drive the price up... well, it makes it a lot easier to justify selling. + +For the greatest example of all four of these elements at work, see GME between last Thursday and this Monday, between the brokerage restrictions (and the Market Maker margin reqs behind them), the media misinformation campaigns, the incredible abuse of naked shorting in the name of 'market liquidity', and the reality of the bull side being a lot of retail investors without deep pockets who overextended at high prices and didn't have enough collective reserves to buy the dips, so they ended up selling. + +&#x200B; + +**Are Short** ***Ladder*** **Attacks real?** + +The claim behind a short ladder attack is similar to the Short Attack described above, with the added flavoring that colluding hedge funds are just selling back and forth to each other. This is impossible. + +Note, per above, that *short attacks* are quite real. What makes a short ladder attack nonsense is the belief that hedge funds can direct who their sell orders go to, or that it's possible to constantly bid a price down in an open market place, where anyone can place a market 'buy' order and prevent the price from dropping till their order is met. + +The closest we came to this notion was last Thursday, where the big players just straight up cheated and shut down much of the buy side of the market, so that, in effect, hedge funds may very well have just been short selling to each other. But that is more due to the environment created by those (hopefully unique) events. + +Shoutout to /u/EmptySet2 for his further breakdown of why it's not a real thing, here:[https://www.reddit.com/r/investing/comments/lbib0x/the\_myth\_of\_the\_short\_ladder\_attack/](https://www.reddit.com/r/investing/comments/lbib0x/the_myth_of_the_short_ladder_attack/) + +&#x200B; + +**What is the Short Sale Rule (aka 'Alternative Uptick Rule' aka 'Rule 201' aka 'Short-Sale Restriction')?** + +There's a bit of history here, with some changes to the rules over time. I'll talk about most recent version of this restriction, which was implemented in 2010: + +1. If any security falls more than 10% within a single trading day, it triggers the 'Alternative Uptick Rule' for the remainder of that day, and for the duration of the next trading day. +2. While that rule is in place, short selling is only permitted if the price of the security is above the current national best bid (aka on the uptick). + +This is required to be enforced by the system as a whole. For this rule to be broken, everyone would have to be in on it, from brokers to clearing entities to market makers. It would be a big fucking deal. + +Source: [https://www.sec.gov/news/press/2010/2010-26.htm](https://www.sec.gov/news/press/2010/2010-26.htm) + +Source for monkeys: [https://www.investopedia.com/terms/s/shortsalerule.asp](https://www.investopedia.com/terms/s/shortsalerule.asp) + +&#x200B; + +**How does this stop a short attack?** + +Recall from earlier that a short attack is just selling a bunch of shares at market price, driving the price down as you meet each next highest bid. + +Well, quite simply, while GME is short-sale restricted, short sellers *cannot* sell their shorted shares to the current highest bidder. They have to set their own ask price above that highest bid price, and wait for a buyer to meet it. + +What does this mean? It means that on a day like today, a short attack by its very nature isn't permitted to happen. *All short selling can do on a day like today is suppress the price from going up*. If the current share price is $60, a hedgie could short sell 10 million shares at an ask of $60.01, and thus the price wouldn't go past that until all 10 mil are bought out. + +&#x200B; + +**What does this mean about current stay of play of GME?** + +Broadly put, for the past week there have been alternating days of massive short attacks, followed by lulls or even upward price movement during the short-sale restricted days. + +Yesterday there was a whole lot of shorting and/or shareholders exiting positions, driving the price down more than 10%. Today, we saw a relatively stable price as only shareholders could sell at market price. + +Put 2 and 2 together and take a wild guess what's coming Monday. + +(Edit: a short attack. That's what's coming. Or maybe it isn't, it's just going to be possible again. Just be aware of the possibility that wasnt there today. ) + + +&#x200B; + +Position: 1000 shares and 5 calls +**\*Obligatory** \- This is not financial advice and I am not a financial advisor. I highly encourage everyone to do their own research and come to their own conclusions. Some of the information contained within is speculative in nature, but backed by data. + +Supporting Information for this post: + +* Prior [post](https://www.reddit.com/r/Superstonk/comments/px836q/margin_debt_statistics_indicator_for_prior_market/?utm_source=share&utm_medium=web2x&context=3) discussing how rapid increases in FINRA's reported margin debt were leading indicators to the last two market crashes. Basically it's this post, but much more wordy. +* Prior [post](https://www.reddit.com/r/Superstonk/comments/q1w5z8/the_short_game_exposed_exploring_leverage_in_75/?utm_source=share&utm_medium=web2x&context=3) evaluating short interest exposure in 75 highly shorted stocks from 2020 -2021. + * This post evaluated share price and short interest movement of 75 heavily shorted stocks indicating that a lot of market short interest was exposed to rising share prices from Q1-2020 to Q1-2021 (including GME, the Alpha). Had FINRA members closed their exposed short positions we would have seen dramatic changes to member margin debt and cash/credit on hand. + +This is FINRA Member Reported\* Margin Debt. Money/securities on loan in member margin accounts. Here’s the link to firms [regulated by FINRA](https://www.finra.org/about/firms-we-regulate). Margin debt is the 2nd column from the left, shown in millions. The columns to the right are available cash and credit not currently invested but available to use. + +[https:\/\/www.finra.org\/investors\/learn-to-invest\/advanced-investing\/margin-statistics](https://preview.redd.it/oh2tj3n1vjc81.png?width=820&format=png&auto=webp&s=d46149a707e6f0467962033b8b60fb3651b49221) + +We've seen two months of downward movement of debt and December ended at **$910B**. After rapid increases in debt, the 00' and 08' crashes bounced around for several months before the S&P stepped off a cliff as can be seen by the images below. + +Graphs of FINRA member margin debt in comparison to the S&P 500 price since 1999: + +[https:\/\/www.finra.org\/investors\/learn-to-invest\/advanced-investing\/margin-statistics](https://preview.redd.it/zrh75iwlvjc81.png?width=929&format=png&auto=webp&s=d31a332553cc747fd8eabca8fcf9e18b2e9a7429) + +[https:\/\/www.investing.com\/indices\/us-spx-500-historical-data\/](https://preview.redd.it/amnk1dq0wjc81.png?width=840&format=png&auto=webp&s=882ec10b9e7d29e6a67d338a443b4fbf412c74ea) + +The last two market crashes were preceded by rapid increases in member margin debt. Since March, 2020 margin debt has gone vertical (as has the S&P). Something to remember, all short positions are margin positions and short margin positions are MUCH more expensive to maintain versus long positions. + +Shouldn’t margin debt be sinking with this increase in the S&P 500 since most long positions would have decreasing margin requirements? Not when short exposure outweighs long gains. + +Margin debt is more than double its 08’ peak. The market doesn't naturally leverage itself this far. + +This is a graph of member cash and credit available for investing compared to margin debt (the right two columns from the image at the top of this post). This graph indicates FINRA members' available money for future investing as it is the amount currently available to them in their margin and cash accounts. The lower the %, the more leveraged members' accounts are. Members recently hit their lowest level of liquidity (10/2021) since these statistics have existed, having just 45.6% of available cash/credit compared to total margin debt. This number has come up slightly in the last two months, but members are still highly leveraged at 51.16%. + +https://preview.redd.it/pjy0p7e6akc81.png?width=911&format=png&auto=webp&s=1f603ec9131fe37ffe09194f352cd1abaf4bf7a3 + +This image also shows us what happens when members close their margin positions. As can be seen by the upward spikes in the graph in 00' and 08' the cash on hand and available credit exploded in comparison to overall debt. That's because they CLOSED those positions and the money from those closed positions needed to go somewhere. + +Had they actually closed all of the exposed short interest in Q1-21 as reported data indicates, a few things would have happened. Margin debt would have significantly decreased, not continued to erect itself into the skyscraper it is now AND available cash/credit would have grown in comparison to margin debt as those accounts accumulated the $ from the CLOSED leveraged margin positions. + +Moral of the story, they ain't CLOSED shit. + +DRS is the way. + +Tanks fo' reedin' +The round is expected to value SoundCloud at about $700M - the same amount that investors placed on the company in 2014, when it raised $60M. Twitter is up 9.6% over the last two days, as Microsoft's $26.2B deal to buy LinkedIn fueled hopes it would also get acquired. +I've been trying to really get into learning how to manage money. Parents never taught me nor do they have any experience with it. Mom decided she wants to live off unemployment and my dad thinks retirement savings are a waste. + +&nbsp; + +I've been spending a the past few months learning and reading what I can. This sub has been a lot of help. I've got 4K in savings and 3K already in my Roth IRA. + +&nbsp; + +I've just gotten a new job, new city, at a better company with lots of growth opportunity. I'm pretty happy about this new job actually. + +&nbsp; + +I was hoping if anyone has any advice in regards to the budget I've been putting together for my self. Oh and I am 26 if that is important to saving options or strategies. + +&nbsp; + +https://imgur.com/a/FI5SS2T +The Federal Reserve on Wednesday launched its biggest broadside yet against inflation, raising benchmark interest rates three-quarters of a percentage point in a move that equates to the most aggressive hike since 1994. + +Ending weeks of speculation, the rate-setting Federal Open Market Committee took the level of its benchmark funds rate to a range of 1.5%-1.75%, the highest since just before the Covid pandemic began in March 2020. + +Additionally, members indicated a much stronger path of rate increases ahead to arrest inflation moving at its fastest pace going back to December 1981, according to one commonly cited measure. + +https://www.cnbc.com/2022/06/15/fed-hikes-its-benchmark-interest-rate-by-three-quarters-of-a-point-the-biggest-increase-since-1994.html + +EDIT: Please don't give this post awards, they are useless. Besides, you need the money. Lmao +Hi there, I (28F) am looking to move and buy my second home in Greater Manchester +I currently have a £240k mortgage (£300k house value, therefore £60k equity) and I am looking to move back towards my home town. After speaking with my mortgage advisor I can borrow up to £296k + +I am on £59k per annum and this is likely to rise each year, realistically to £80k in a few years but I know this is not guaranteed + +Is it too risky to max out on what I can borrow? I will have about £1k leftover each month after all bills, for “fun” things and savings (my monthly mortgage payments will rise approx £200 a month vs. now) + +So do I go for a home of the same value, or borrow more? What are the pros and cons? +My house is going up for sale in 2 weeks to take advantage of the stamp duty break, and is likely to sell quite quickly due to a popular town centre location and the booming market + +Thank you + +Edit: I will have about £5-10k savings when I move (for decorating etc) so not too much behind me at this stage +My loan originated with Citi and was sold to Discover. It entered repayment a month ago. + +The details are : + +28,426.62 balance + +$279.65 minimum payment + +8.5% interest with auto-payment .25% reduction + +My plan was to pay $700/month and get this loan paid in around 4 years. + +My income is 40k gross, 2k take home per month. I pay $600/rent and $200/groceries. My phone bill is $60/mo, electric is $40-50 and I already live pretty frugally. I have $65k in federal loans that I'm currently paying in IBR with interest rates around 6.8%. My plan was to pay off the private loan as fast as I could then move onto federal loans. + + + +I've read that death of a cosigner triggers automatic default. There is *no possible way* I can pay this loan if they demand it all upfront. I haven't posted all the details PF likes to see because I'm not asking about what to pay off, I'm just asking what my next step should be. I just don't know. + + +If they auto-default my loan, am I screwed? Will it destroy my fiance's credit if we get married? + +If the cosigner then becomes my uncle's estate, what happens then? I appreciate any help you guys can offer. I just don't know what to do. I've tried looking for the info on the discover student loans site and I can't seem to find anything related to this. I'm happy to respond with any other info you need. + + +**EDIT**: There's no one else to cosign. I have no other family/friends that could or would (and rightfully so). + +Edit 2: Lots of conflicting information here. I'm still not sure whether or not to call discover. What I will do is get my contract and read through it. If this is not spelled out then I will contact customer service anonymously and ask. Thank you to all of those who provided sincere advice. + + +FINAL EDIT: + +To clear some stuff up: + +1. Yes, I have a lot of student debt. I had no family or help. I had no means to attend and even with my job I couldn't afford it. Housing is expensive when you don't live with your parents. My parents never taught me anything about money and I made bad choices. Oh well, I can only grow from here. My degree was in STEM, btw, and I ended up going into IT (not what my degree is in) because the science jobs here paid so little. It took me a year after graduation to get here. + +2. I'm devastated. My uncle was one of the only people who accepted me. This isn't a sub about how I feel about my uncle, though. I'm not insensitive for trying to keep my affairs in order, but if you think that I am, well good for you. + +3. I'm going to post an update to this regardless of how it goes so that there's something here when someone else searches /r/personalfinance for it. Wish me luck. + + +Hi guys. My name is Emma Ockerman, I'm an inequality reporter for VICE News. I've posted here before and am always reading this subreddit. Anyway, I'm currently doing a story on how people are making their groceries stretch with the cost of living increasing in the past several months. Are there cheap meals that you love and make often? Are you slogging through the same recipes? Are you finding big-batch recipes that will last you a few days? Particularly interested to hear from parents that may also have to do all of this with picky eaters in the house—how are you guys doing? + + +If you post here, I may comment and PM you. Otherwise, feel free to message me or email me at [emma.ockerman@vice.com](mailto:emma.ockerman@vice.com) if you're interested in chatting with me. Hope everyone reading this is holding up OK today. +Hi UKPF + +Firstly, thanks for the advice received in the last post. I thought I would make an update here to clarify some debated/unclear points: + +She takes 30 minutes only for lunch. She has confirmed with her employer that the 30 minute lunch break is paid, and so, forms part of the 40 hours given in her contract. Her day runs from 09:00 - 17:00 each day M-F. This means her salary of £17,000 is a reflection of 40 hours per week, not 37.5 as was suggested by some. + +She receives 20 days holiday, excluding 8 days bank holiday. There are no unpaid holiday arrangements. + +My calculation for figures for her to have an informal, polite initial conversation with her employer are as follows: +Current nmw on her contracted, paid hours is (£8.91 x40)x52 = £18,532.80 for minimum wage as of now, +which should increase to: +April 2022 nmw on her hours is (£9.50 x40)x52 = £19,760 for minimum wage + +Please correct me if i've made a huge error here in these calculations ;) + +The company handbook holds no guidance on the topic of paid hours/breaks. Other than reiterating the below points. +Below is a copy of her relevant contract clauses - verbatim: + +4. Pay +Your rate of pay is £17000.00 gross per year +This will be paid monthly in arrears no later than 28th of each month +You are entitled to overtime payment. This will be paid in accordance with the rates stated +within the company handbook +Pay is reviewed on completion of probationary period and 1st August annually thereafter + +5. Hours of work +You are employed to work Full Time +Your normal working hours will be 40 hours per week +You will work on the following days: Monday to Friday +You will normally work between the hours of 09:00 and 17:00 + +6. Holidays +You are entitled to 20 days holiday per year +This excludes public holidays +Your holiday year begins on 1st January +Subject to government guidance concerning Covid 19, unused entitlement may not be carried forward to the next holiday year unless +Holiday entitlement will increase by one day for each year of employment with the company up to a maximum of 25 days. + +I hope this clears this topic up, as I received some relatively negative responses to my attempts to clarify this. Once the initial conversation is done, we'll have an idea of the temperature of the water and take appropriate next steps. + +Please try to avoid sending me mail or making comments on my relationship with my wife, you don't know me or my wife and this isn't r/relationships. +Probably get down voted like crazy for this. + +I'm not going to fluff you with some bullshit about how we are due for a bull run. In fact we definitely are not. With all of the uncertainty around Bitcoin right now crypto investors are shying off. + +We won't see a bull run until well after this Bitcoin segwit/hardforking nonsense is over. You and I know Bitcoin is not even comparable to ethereum but sadly the rest of the world does not, and we simply don't know how market forces will handle an event like this. + +This hypothetical post hard fork bull run is only going to happen if the hard fork goes well. + +It's kinda like groundhogs day. If Bitcoin sees it's own shadow in the wake the current network difficulty we are in for a long, cold cold winter. Or summer for you folks on the other half of the world. + +Not what y'all wanted to hear I'm guessing, but I think it's pretty damn near accurate. Stay classy, stay hodling. +We've been witnessing lately a revolutionary way of crowdfunding that is happening almost on a daily basis in our community: ICOs. I guess we all know what they are by now, although many seem not to understand how it functions and what should be expected of them. There's also a lack of consensus in our community on what is a good ICO model or not: we're experimenting, live-testing and will surely iterate towards the best of ICO model options in the future. It may take time and much pain / failure, but I'm sure it will end up happening. + +As we move towards becoming the predominant crypto asset, we should consider educating ourselves on what to do with our precious ETH, on how to reward projects who deserve it and will perform moreless according to our expectations, and on how to exclude the possibility of giving it away to projects that do not deserve it and will underperform in comparison with our expectations. This is not a binary thing (overperforming or underperforming assets) because there's a worse third, fourth, fifth options: an ICO that results in an idea that never becomes a product, an ICO that ends up being a way of somebody getting rich quick without doing much work or an ICO that lies in the kind of product that it intends to build. + +Nice piece of English up there, right ? Well, I'm kind of new around here too and I've made my investment mistakes. Will definitely make some more, but hopefully not the ones with which I've learned something. So, my opinion is just that, my opinion. In order to get a bit away from the bias that my opinion obviously contains, please take your time to read / listen to the opinions of some people who are a little bit more experienced than you or me regarding our crypto space and that made us the favor of taking their time to share it openly. + +Here's a **list of such resources** that I've decided to compile: + +* [Analyzing Token Sale Models](http://vitalik.ca/general/2017/06/09/sales.html) by /u/vbuterin. + +* [Mortal Hazard: the DApp ecosystem, other people's money, and the prospects for a long-term regulation-free environment](https://medium.com/humanizing-the-singularity/mortal-hazard-the-dapp-ecosystem-other-peoples-money-and-the-prospects-for-a-long-term-2aeb0be10303) by Vinay Gupta. + +* [Ethereum - Welcome Newcomers; ICO Due Diligence; Anti-ETH FUD; Ethereum "Killers"](https://www.youtube.com/watch?v=SE-3VweeFc0) by /u/Mr_Yukon_C + +* [ICO 2.0 - What Is The Ideal ICO ?](https://medium.com/iconominet/ico-2-0-what-is-the-ideal-ico-ee9d285a8939) + +* [Q&A: Evan Van Ness: Blockchain Token Sales](https://www.youtube.com/watch?v=rGOf9qhN4C8) by /u/evanvanness + +* [ICOS, Token Sales, Crowdsales](https://www.smithandcrown.com/icos/) + +*There are much more. Feel free to reply with some more useful resources to list here, I'll inspect and add them.* + +Now, once again, that's pretty and cool but we go back to the same questions that motivated this post: + +* How can I understand, as an early investor, what a proper ICO is ? + +* How can I minimize the probability of investing in the wrong thing ? + +* How can I know what I'm investing in ? + +Tough questions indeed. I obviously can't answer each one of them directly like if I knew exactly what I'm talking about, but there's **two positive lessons** that we can immediately take from the bullet points above: + +* 1) If you're asking yourself these questions, you're on the right path to learn if you should invest or not. It's a baby step and a very small one, but it's better than going all-in with your ETH / money in something you do not understand yet. + +* 2) We can list a set of actions that you and me, as investors, commit to perform before investing in any given ICO. It's our mission, as investors, to understand if we have the necessary amount and quality of information before deciding to step up with our money or not. + +Long post already, I know. A TL;DR won't save you from doing a bad investment though. Keep reading, I'm almost getting to my point. + +Now that we've decided to have **an actionable framework** of data gathering that will allow us to make a decision about our investment, we need to actually have a set of data entries. These entries can be many things, many of which I don't remember now. + +But here's some I do remember now that will provide you with some of the information you need: + +* 1) Which problem is the project tackling ? + +* 2) How will the product that will be built make money ? + +* 3) How will that money affect the value of the tokens I'm buying ? + +* 4) Who are the team members ? + +* 5) What is the distribution of tasks between the team members ? + +* 6) Are there more team members in marketing and business than developing and maintaining the software ? + +* 7) How many Smart Contract developers does the team have ? + +* 8) Which other projects have the team members worked in, before deciding to start this project ? + +* 9) What is the total supply of tokens ? + +* 10) Is that the final amount of supply or will there be more tokens to be added in the future ? + +* 11) What is the token distribution in the crowdsale ? + +* 12) Do the team members keep a higher amount of tokens than the ones being publicly sold ? + +* 13) How much does each token cost at the moment of the ICO ? + +* 14) Is the *total number of tokens* * *each token cost* higher than a very unreasonable amount of money ? + +* 15) What do I think of the whitepaper ? + +* 16) What is the product roadmap ? + +* 17) When will they deliver their first version of the product ? + +* 18) How does the team positions itself regarding their product's possible competition ? + +* 19) In case they are positioning themselves against some product that competes with theirs, do they respect the value of that same product ? + +* 20) Do they position themselves as competitors of something that is in production already ? + +* 21) What are the odds that this product surpasses the quality of their competitors products ? + +* 22) Have I replied to all the previous questions ? + +In case you answer 22) with a 'No', go back and do it. Ideas will form, an opinion will be made and you will be able to communicate the project to your fellow Ethtraders anytime somebody asks something about in the Daily. If and when you answer 22) with a 'Yes', you can consider yourself an expert on what the project is, what it may be and what it aims to achieve. + +Again, in case you answered with a 'Yes' to question number 22, **you'll be very well positioned to know if you're willing to invest or not**. You'll have the arguments against anybody that opposes you in your decision. You'll have a rationale to do it or not. + +You'll probably be admired and crowned Ethtrader king once in a while, anytime somebody asks you something about this project. You'll know how much ETH / USD / EUR / BTC you're willing to invest on this one. Anytime a fat troll comes and attacks / defends this project, you'll rationally destroy the troll with your argumentation, respectfully and easily. + +Above all, you'll be part of a **privileged group of 'smart money' investors**. Don't misunderstand me: you'll probably still make many mistakes in terms of investment decisions, but the difference from then on will be that you'll embrace each one of them as another data point in your long learning curve. + +Now, go do yourself a favor: buy some more ETH and try your best to **answer the questions above before throwing a single cent to any new project**. + +P.S.: I've noticed there's a similar new post by /u/salaamz ([People are throwing money at things they don't even understand, and it's making me worried...](https://np.reddit.com/r/ethtrader/comments/6guu3a/people_are_throwing_money_at_things_they_dont/). I was most probably writing this one at the same time. + +P.S. 2: The motivation to write this post is obviously constituted by the fact that we've seen some mad things happening in ICOs and we should all have an educative approach towards it, me included. /u/Clays99 talked about it [here](https://np.reddit.com/r/ethtrader/comments/6gqgy1/eth_daily_discussion_12jun2017/dit2gc8/) and I decided to put this together. +**TL:DR:** + +My fixed term loan with Nuo was liquidated. + +When I signed up for the loan, it was not disclosed anywhere that this was possible. + +My two key pieces of evidence are [this screenshot where Nuo admits to only adding the disclosure after I took out my loan](https://imgur.com/a/x7RRaF2), and [this comment from me that shows this information was more than likely not listed anywhere on the website at the time of the loan.](https://www.reddit.com/r/ethereum/comments/bjhy2v/do_not_use_nuonetwork_warning_scam/emfev3r/?context=3) + +I was blindsided by the fact my loan was liquidated, resulting in financial harm to myself. + +I allege that Nuo acted grossly negligent by not disclosing these risks, not just inadequately, like not even buried in their terms of service. + +**Full story:** + +Excuse this post if my tone comes off as enraged. It's because I am. + +I know I share some responsibility in what happened here, ranging from 100% to 0%. I'll let you decide how much. + +The story goes is that I had used Nuo to take out a loan against an ERC20 they accept as collateral. I had done this months ago as well, took out a 60 day loan, and paid it back on day 59, with interest. I took out a term loan and borrowed against my own assets, and repaid it. Cool! DeFi! I love it. + +I then immediately took out another loan against the same collateral, this time however they didn't let me borrow as much as they did before despite the collateral being worth the same. They maximized the size of the loans either based on risk management or liquidity pool size, that's fine. I borrow less than I did before and locked it up for another 60 days. That was about 6 weeks ago. A couple days ago I go and check on my loan to double check how much time I have left to pay to be sure not to miss it. I login and I am shocked at what I saw. All of my loans have been liquidated!!! WTF? I didn't even know it was possible for these fixed term loans to be liquidated. I thought the entire point of Nuo choosing the collateral, the leverage ratio, the total amount borrowed, the limited term window etc. all served to minimize the risk for Nuo to be able to issue a fixed term loan in the first place! I was under the impression that unlike a revolving open loan like Maker and Compound where obviously the value of your collateral matters at all times, it wouldn't matter in a fixed loan, and they had sufficiently adjusted the parameters to adjust for the risk of the collateral being devalued over that time period. If they're so worried about it not making it the 60 days, which I would understand, limit the term! Choose 30 days or 7 days or 1 day where you're confident that the collateral won't be devalued. + +Why have a fixed term loan in the first place if you won't honor the loan to the term! + +If I take out a car loan for 5 years and the car is used as collateral and I completely destroy it, I still owe the $ for the car loan! You give me a chance to repay before you put a lien on my house. + +I thought I had an agreement! That agreement was to repay a debt after a certain amount of time or they will keep my collateral. + +I was completely blindsided by this function of the loan I had no idea existed. + +How could this have happened? + +So I poke around and check the loan tab in the screen and I see a prominent "Your loan will be liquidated at 0.75x ratio". + +I had never seen that before. If I had, I might not have ever taken out the loan, let alone not checked up on it during this downturn! Having knowledge of this fact would have completely changed my behaviour and given me a chance to avoid being liquidated. + +I could have sworn that this was never disclosed to me at the time of taking out the loan. + +I try and reach out to the team and after a couple days finally get a meaningful response from them. + +I express my concern that the risk of liquidation was not adequately disclosed, [and they say that they added copy of the disclosure on the loan page "a month or so ago".](https://imgur.com/a/x7RRaF2) I took out my loan more than a month or so ago!!! Where does that leave me? I feel I have been totally taken advantage of in regards to what my impressions of the risks were as I took out the loan. I feel completely misled. + +In writing this post I stumbled across more proof that Nuo was lacking not only adequate disclosures of risk, but any disclosures! + +[I found a reddit post from me from 3 months ago seeking clarity on this exact issue!](https://www.reddit.com/r/ethereum/comments/bjhy2v/do_not_use_nuonetwork_warning_scam/emfev3r/?context=3) Check out my 2 comments. The ultimate irony being that it was in a thread that was calling Nuo a scam! And even worse, responding to a comment where a Nuo team member made a plea about how they will be better about disclosing risks! You can't make this up. + +My post shows I was trying to reach out across multiple channels to answer this question and was ignored, and that if I'm asking this question, clearly the disclosure was not mentioned during the loan flow, but I also reference it was nowhere on the website at all as the only relevant question in the FAQ was a dead link! + +Between Nuo admitting they added the disclosure 'a month or so ago', and the fact I tried multiple channels to ask this exact question only to be ignored, with an explicit timestamped mention of the FAQ not working, I feel strongly that Nuo acted with gross negligence when offering this loan. + +I realize that I should probably have never taken out the loan I wasn't 100% sure how it worked. That's my mistake. I also could have personally looked through the smart contracts and seen the mechanics there, but truthfully I lack the technical knowledge to meaningfully do so. + +What I can say is that I am very familiar with the theory and practicalities of how Ethereum and DeFi work. I can tell you the Maker oracle system and how it works and what an oracle attack would look like. I know smart contract bugs are real and it could all be stolen in a flash. I'm aware of risk mitigating options like Nexus Mutual. I literally spend nearly all my free time learning about Ethereum and new applications. So how is it possible that whatever category I fall into, 'passionate early adopter' that I could have been so blindsided by the risks inherent with this loan? If I, someone with a decent level of knowledge of how these systems work can be so blindsided, what chance do normal users have? + +MEW, Mycrypto, Maker CDPs all make it extremely clear what the risks are when interacting with the system. UX is so bad they have bent over backwards to create mandatory click throughs, pop ups, highlighted text, etc. That's being responsible. I even reference the clarity of liquidation in Maker CDPs in my linked comment! + +Not only was this never prominently displayed in the loan process with Nuo, it wasn't displayed at all, anywhere! + +I am just in shock at the negligence of the lack of disclosures of this significant risk. + +I have incurred significant financial harm as a result of this negligence through refinancing costs and repurchase of the tokens. + +I want compensation for the financial loss I have incurred as a result of this. I feel that Nuo's admitted lack of disclosures was negligent and has caused me direct financial harm. + +Whatever happens with my claim to recoup losses from Nuo. I want to let the community be aware of what they are doing in case you are also under the same impression that I was. + +I also want to reiterate and implore the community and dapp developers to ADEQUATELY DISCLOSE THE RISKS of using your platform. Nobody should ever be blindsided like I was. I can tell you it is an absolutely shitty UX and I'm really pissed, and you won't find someone more pro Ethereum and DeFi than me! Perhaps I would be better off using a centralized service so I have some legal recourse in regards to this. I might have some legal recourse here but I don't want to be a lawsuit guy, I want to be a guy who uses an app who actually tells you under what conditions you could incur serious financial losses. Fwiw I think it's bs that Nuo or any crypto company dodges liability and hides behind smart contracts and decentralization to not taking responsibility when a member of the community gets misled. I don't care if you're a DAO, you still are a group providing a service! + +In conclusion, Nuo was grossly negligent about disclosing key risks, and it has cost me untold amounts on money. +**TL:DR:** + +My fixed term loan with Nuo was liquidated. + +When I signed up for the loan, it was not disclosed anywhere that this was possible. + +My two key pieces of evidence are [this screenshot where Nuo admits to only adding the disclosure after I took out my loan](https://imgur.com/a/x7RRaF2), and [this comment from me that shows this information was more than likely not listed anywhere on the website at the time of the loan.](https://www.reddit.com/r/ethereum/comments/bjhy2v/do_not_use_nuonetwork_warning_scam/emfev3r/?context=3) + +I was blindsided by the fact my loan was liquidated, resulting in financial harm to myself. + +I allege that Nuo acted grossly negligent by not disclosing these risks, not just inadequately, like not even buried in their terms of service. + +**Full story:** + +Excuse this post if my tone comes off as enraged. It's because I am. + +I know I share some responsibility in what happened here, ranging from 100% to 0%. I'll let you decide how much. + +The story goes is that I had used Nuo to take out a loan against an ERC20 they accept as collateral. I had done this months ago as well, took out a 60 day loan, and paid it back on day 59, with interest. I took out a term loan and borrowed against my own assets, and repaid it. Cool! DeFi! I love it. + +I then immediately took out another loan against the same collateral, this time however they didn't let me borrow as much as they did before despite the collateral being worth the same. They maximized the size of the loans either based on risk management or liquidity pool size, that's fine. I borrow less than I did before and locked it up for another 60 days. That was about 6 weeks ago. A couple days ago I go and check on my loan to double check how much time I have left to pay to be sure not to miss it. I login and I am shocked at what I saw. All of my loans have been liquidated!!! WTF? I didn't even know it was possible for these fixed term loans to be liquidated. I thought the entire point of Nuo choosing the collateral, the leverage ratio, the total amount borrowed, the limited term window etc. all served to minimize the risk for Nuo to be able to issue a fixed term loan in the first place! I was under the impression that unlike a revolving open loan like Maker and Compound where obviously the value of your collateral matters at all times, it wouldn't matter in a fixed loan, and they had sufficiently adjusted the parameters to adjust for the risk of the collateral being devalued over that time period. If they're so worried about it not making it the 60 days, which I would understand, limit the term! Choose 30 days or 7 days or 1 day where you're confident that the collateral won't be devalued. + +Why have a fixed term loan in the first place if you won't honor the loan to the term! + +If I take out a car loan for 5 years and the car is used as collateral and I completely destroy it, I still owe the $ for the car loan! You give me a chance to repay before you put a lien on my house. + +I thought I had an agreement! That agreement was to repay a debt after a certain amount of time or they will keep my collateral. + +I was completely blindsided by this function of the loan I had no idea existed. + +How could this have happened? + +So I poke around and check the loan tab in the screen and I see a prominent "Your loan will be liquidated at 0.75x ratio". + +I had never seen that before. If I had, I might not have ever taken out the loan, let alone not checked up on it during this downturn! Having knowledge of this fact would have completely changed my behaviour and given me a chance to avoid being liquidated. + +I could have sworn that this was never disclosed to me at the time of taking out the loan. + +I try and reach out to the team and after a couple days finally get a meaningful response from them. + +I express my concern that the risk of liquidation was not adequately disclosed, [and they say that they added copy of the disclosure on the loan page "a month or so ago".](https://imgur.com/a/x7RRaF2) I took out my loan more than a month or so ago!!! Where does that leave me? I feel I have been totally taken advantage of in regards to what my impressions of the risks were as I took out the loan. I feel completely misled. + +In writing this post I stumbled across more proof that Nuo was lacking not only adequate disclosures of risk, but any disclosures! + +[I found a reddit post from me from 3 months ago seeking clarity on this exact issue!](https://www.reddit.com/r/ethereum/comments/bjhy2v/do_not_use_nuonetwork_warning_scam/emfev3r/?context=3) Check out my 2 comments. The ultimate irony being that it was in a thread that was calling Nuo a scam! And even worse, responding to a comment where a Nuo team member made a plea about how they will be better about disclosing risks! You can't make this up. + +My post shows I was trying to reach out across multiple channels to answer this question and was ignored, and that if I'm asking this question, clearly the disclosure was not mentioned during the loan flow, but I also reference it was nowhere on the website at all as the only relevant question in the FAQ was a dead link! + +Between Nuo admitting they added the disclosure 'a month or so ago', and the fact I tried multiple channels to ask this exact question only to be ignored, with an explicit timestamped mention of the FAQ not working, I feel strongly that Nuo acted with gross negligence when offering this loan. + +I realize that I should probably have never taken out the loan I wasn't 100% sure how it worked. That's my mistake. I also could have personally looked through the smart contracts and seen the mechanics there, but truthfully I lack the technical knowledge to meaningfully do so. + +What I can say is that I am very familiar with the theory and practicalities of how Ethereum and DeFi work. I can tell you the Maker oracle system and how it works and what an oracle attack would look like. I know smart contract bugs are real and it could all be stolen in a flash. I'm aware of risk mitigating options like Nexus Mutual. I literally spend nearly all my free time learning about Ethereum and new applications. So how is it possible that whatever category I fall into, 'passionate early adopter' that I could have been so blindsided by the risks inherent with this loan? If I, someone with a decent level of knowledge of how these systems work can be so blindsided, what chance do normal users have? + +MEW, Mycrypto, Maker CDPs all make it extremely clear what the risks are when interacting with the system. UX is so bad they have bent over backwards to create mandatory click throughs, pop ups, highlighted text, etc. That's being responsible. I even reference the clarity of liquidation in Maker CDPs in my linked comment! + +Not only was this never prominently displayed in the loan process with Nuo, it wasn't displayed at all, anywhere! + +I am just in shock at the negligence of the lack of disclosures of this significant risk. + +I have incurred significant financial harm as a result of this negligence through refinancing costs and repurchase of the tokens. + +I want compensation for the financial loss I have incurred as a result of this. I feel that Nuo's admitted lack of disclosures was negligent and has caused me direct financial harm. + +Whatever happens with my claim to recoup losses from Nuo. I want to let the community be aware of what they are doing in case you are also under the same impression that I was. + +I also want to reiterate and implore the community and dapp developers to ADEQUATELY DISCLOSE THE RISKS of using your platform. Nobody should ever be blindsided like I was. I can tell you it is an absolutely shitty UX and I'm really pissed, and you won't find someone more pro Ethereum and DeFi than me! Perhaps I would be better off using a centralized service so I have some legal recourse in regards to this. I might have some legal recourse here but I don't want to be a lawsuit guy, I want to be a guy who uses an app who actually tells you under what conditions you could incur serious financial losses. Fwiw I think it's bs that Nuo or any crypto company dodges liability and hides behind smart contracts and decentralization to not taking responsibility when a member of the community gets misled. I don't care if you're a DAO, you still are a group providing a service! + +In conclusion, Nuo was grossly negligent about disclosing key risks, and it has cost me untold amounts on money. +Please use this thread to have discussions which you don't feel warrant a new post to the sub. While the Rules for posting questions on the basics of personal finance/investing topics are relaxed a little bit here, the rules against memes/spam/self-promotion/excessive rudeness/politics still apply! + +Have a look at the [FAQ](https://www.reddit.com/r/financialindependence/wiki/faq) for this subreddit before posting to see if your question is frequently asked. + +Since this post does tend to get busy, consider sorting the comments by "new" (instead of "best" or "top") to see the newest posts. +Please use this thread to have discussions which you don't feel warrant a new post to the sub. While the Rules for posting questions on the basics of personal finance/investing topics are relaxed a little bit here, the rules against memes/spam/self-promotion/excessive rudeness/politics still apply! + +Have a look at the [FAQ](https://www.reddit.com/r/financialindependence/wiki/faq) for this subreddit before posting to see if your question is frequently asked. + +Since this post does tend to get busy, consider sorting the comments by "new" (instead of "best" or "top") to see the newest posts. +*The Cryptopians* is one of the first books to take a deep dive into the early history of Ethereum. And when I say "in depth", I'm not kidding: journalist Laura Shin gives an almost daily description of the days of Vitalik Buterin and other developers for the period 2013-2018. + +She interviewed hundreds of people and consulted thousands of documents of all kinds, both on the blockchain and in official reports from the Ethereum Foundation, to paint a picture of this historic crypto moment. + +The book came out last February, I received it in early April, and I just finished reading it. Here is five things I learned! + +**1-Crypto is fundamentally a chaotic universe and full of drama** + +The first months of Ethereum were marked by disputes, dissension, power plays and total chaos. Developers bickered with financiers, financiers bickered with the Ethereum Foundation, the Ethereum Foundation bickered with community members, and community members bickered with each other... Many great people were involved in the project, and their egos often took precedence over the common good. + +The book left me with the impression that chaos was inherent in the crypto world. No project, even the most popular and best built, escapes it. + +**2-Charles Hoskinson, founder of Cardano, is a liar** + +I am absolutely sorry, and this is not a judgment on Cardano's blockchain, but there is no longer any doubt in my mind that Charles Hoskinson is a liar who has taken advantage of his proximity to Vitalik Buterin to build a reputation. He self-proclaimed himself "CEO" of Ethereum, an absurd title, and then spent his days talking about Lamborghinis while smoking cigars while the real developers did all the work. He also made it look like he was a PhD candidate, which is not true: he never got past the undergrad stage. Even worse: when confronted with the evidence by Laura Shin, he refused to admit the truth and continued to lie, Do Kwon style. + +**3-Money makes everyone lose their mind... except Vitalik** + +Initially, despite the bickering, there was generally a good-natured atmosphere in the Ethereum developer community. But when the price of ether started to rise, people started to show their true colors. The DAO hack is a perfect example: the person who executed this attack would have been a hero in the community if he or she had chosen the path of honesty, and he or she would have been rewarded; but the amount of money at stake - in the hundreds of millions of dollars - made him or her lose his or her mind, and the person tried to keep it all to himself or herself. + +Conversely, there is Vitalik Buterin, whose personal fortune is valued in the hundreds of millions of dollars, but who couldn't care less. Imagine what Ethereum would look like if a narcissistic megalomaniac had been at its helm... + +**4-The nerds always win** + +Several times in the early years of Ethereum, the project could have gone very wrong. Multiple "DOS" attacks were launched, financiers wanted to "sell" Ethereum to private companies, jealous developers wanted to convince regulatory authorities that Ethereum was a bad project... + +But at the end of the day, the nerds won. Why did they win? Because they are the only ones who truly understand the full potential of blockchain technology. So they put their heart and soul into it, often at the expense of their personal lives. + +Never bet against the nerds; in an increasingly digital world, they will always win. + +**5-Nobody knows what the future will bring** + +We are all convinced on this sub that crypto will play an important role in the economy of the future. But one thing I took away from my reading is that no one knows what the technology will be used for. + +Vitalik Buterin, for example, never saw non-fungible tokens coming; at least, certainly not that they would be used to sell monkey pictures. If even the inventor of Ethereum couldn't foresee the explosion in popularity of ERC-721, how can we mere mortals claim to know what crypto will look like in five years? + +My takeaway is that you always have to keep an open mind if you want to survive in this universe. We are still in the infancy of crypto, no matter what the no-coiners say, and no one knows what the future holds. I find it exciting! + +I hope this short summary was helpful, and I wish you all a very green weekly candle! +We can't afford legal advice at this stage and I don't know what else to do. + +This is the situation in short: + +\- My mum and dad have been married for 20 years. + +\- My dad wants to leave my mum because he no longer loves her. + +\- They own a shared house together with a mortgage. £20k is outstanding. The house is worth £200,000. + +\- My mum has been unemployed for 20 years. She has run the home and looked after my dad. + +\- My dad earns - and has earned - £30,000 a year for 15 or so years. He is the sole earner. He has supported my mum and raised two children with her. + +\- My mum is FULLY dependent on my dad. She doesn't have her own bank account or any cash savings. + +\- When they first met, my mum had more money than my dad. My dad was in debt. My mum helped him pay it off and she paid the £25,000 deposit on the house they now own. She also paid for a roof replacement and brought two cars over the years. + +\- My brother is 20 years old. He still lives at home. He works part-time but does not earn much money. He is also dependent on my dad. + +That is the situation in a nutshell. + +My questions are: + +\- I understand the house will be split 50/50 because of the marriage. Is that right? + +\- What happens to other assets, like cars? I believe they are in my dad's name but I know my mum paid for them. Although, I do not think this can be proved. + +\- Can my dad be 'forced' to pay my mum spousal maintenance on an ongoing basis? I ask because she is fully dependent on him and she has no resources or prospects. She is of very ill health, is frail and is 65-years-old. She cannot work. My dad is 56-years-old and works full time and will be continuing that. + +If anyone can help me with this I would be extremely appreciative. Thank you so much. +I’m 25, single and live with my parents + +I am looking to take the next step and move out and buy my own house + +My brother, who owns his house, has told me there is a property in his street for sale for £75000 + +I currently work as a porter at a hospital on 12 hour night shifts and make £1300-£1500 a month. I also have £10,000+ saved up, so already have enough for a deposit. I am single, do not drink or smoke and am sensible with money + +What advice would you give me? Do you think I am in a position where I should go for it and make an offer on the house? + +I really would love to buy the house but am not getting my hopes up or rushing into things +This sub has a preoccupation with scaling, the blocksize debate and certain poorly coded alt clients... but Bitcoin is much much bigger and I can't help but think real innovation is being lost in the noise. + +What do you feel are important developments that should have gotten more attention? Tumblebit. Mimblewimble. Lighting come to mind but to look at this sub nothings happening. What's new? What are we missing in our impassioned myopia? +Hi, just thought I'd give a quick update on a few non-BNPL related stocks that I know a few here have some interest in + +* CML keep releasing pics of visible gold in their Canada drill holes and the stock price keeps going down, much wailing and gnashing of teeth over at HotCopper +* AT1 up 16% today, starting to approach the numbers where all the FOMO retards for burnt. That one guy here who's all in must be thrilled, he's up a good 30%+ now +* DXB crept very low this week despite impending results from three promising trials, lots of volume as some big players are either entering or exiting or both +* NVX slowly working its way up throughout the month too but I'm not really following this one +* VDHG has moved a good 2% this month - which is significantly higher than its low, low MER, buy in today! +My first attempt at basic DD, so please leave constructive feedback if you have any. + +Lithium mining and refining company with projects in Australia, Argentina, Japan in Canada. + +Recently merged with Galaxy Resources ASX:GXY to create a top 5 global Lithium company. Planned re-branding to Allkem after 2021 AGM. + +Currently 91st biggest company listed on the ASX with plenty of growth achievable between now and FY28. + +**Commercial agreements and contracts** + +Toyota Tsusho Corporation has \~10% stake in ORE and as a result has contracted supply agreements in place with Toyota for both LCE and LiOH. + +Other current contracted supply with Chinese companies B&M Science and Technology and XTC New Energy Materials. + +Current MOU with Prime Planet and Energy Solutions (PPES, a JV between Toyota and Panasonic) to supply 30ktpa by FY25. + +https://preview.redd.it/cj32n7mvqky71.png?width=863&format=png&auto=webp&s=88e6383ee97283312033236f1531b033a4fdc73f + +I will try to talk about the company based on post-merger information. As this only happened 25/08/2021 there is some annoying piecing together and a few assumptions I have made. + +&#x200B; + +[SP chart, correlation to price of the commodity](https://preview.redd.it/ewp5j4wzqky71.png?width=894&format=png&auto=webp&s=d4498986a911f72e13dc9252c90f50d657eb2483) + +Lithium carbonate auction price, data mostly taken from au.investing.com but more recently tsl.100ppi.com. No real signs of the run stopping, seems to have slowed recently but still increasing over 1% per week. + +&#x200B; + +https://preview.redd.it/6s79esv2rky71.png?width=881&format=png&auto=webp&s=d2e9f8980e89c18fe95e822a19dd87f428306fae + +Unable to find a reliable source of pricing for SC6 (Spodumene) backdated to draw a graph, but the trend follows carbonate with current market pricing around $1650/t, auction pricing up to $2650/t. + +**Projects** + +&#x200B; + +https://preview.redd.it/02pa2em4rky71.png?width=1526&format=png&auto=webp&s=50da91b496d5a1dcdf3b900699df9a427031d42e + +**In production** + +Lithium brine in Argentina with the Olaroz/ Cauchari project, stage 1 in production with 12-15ktpa. Stage 2 construction 60% complete with full production expected by FY25 up to 25ktpa and stage 3 42.5ktpa planned. 11.20Mt resource size. + +Spodumene in Western Australia with the Mt Cattlin project, current production 220ktpa. Currently stripping the 2NW section of the mine after finishing drilling. 8Mt reserve, 11Mt resource @ 1.20% Li2O. + +Boron minerals from the Borax project, the runt of the litter, for some reason the company doesn’t not report revenue numbers, only sales by volume. Not sure why. + +**Construction/ development** + +Lithium brine in Argentina with the Sal de Vida project, stage 1 production expected FY24 at 10.7kpta with expansion to stage 3 by FY28 expecting 32ktpa. 1.31Mt reserve size, 6.2Mt resource. + +High purity for a brine evaporation project with most recent testing providing 85% battery grade production. + +&#x200B; + +https://preview.redd.it/1nlmz6r5rky71.png?width=561&format=png&auto=webp&s=4bb9eb4d47c522eb33796101a1a942fafc8909f6 + +Naraha hydroxide plant in Japan (JV with Toyota), will use 99.0% purity feed (technical grade) from Olaroz to convert Lithium carbonate into Lithium hydroxide. Stage 1 production expected FY22 with full production in FY23 of 10ktpa. + +Spodumene in Canada with the James Bay project, currently in permitting stage, expected to be construction ready by end of 2021 with production expected FY24, production of 330ktpa, resource 40.3Mt. + +Updated report and reserve expected in December and also currently assessing downstream options for the project. + +**Boring numbers** + +I won’t go into too much detail about previous year financials as they are mostly losses if you consider the combined entity as a group. This is due to the projects still being very early stage and the Lithium price rout FY18 through FY21. + +**Fun numbers** + +Moving forward revenues will increase as projects come online and projects ramp up through stages. The things I don’t know; + +* What Lithium pricing will do between now and FY30 with EV and battery metals demand going crazy +* What the projects FOB costs per tonne will do as they ramp up + +I am going to be VERY lazy here and only talk about my expectation on revenues and touch on FOB costs. I am no good at combing through the financials to try and discern OPEX, CAPEX, NPV, FX and impairment costs etc. Call u/Nevelo or u/Jswyft for that. + +Assumptions (Crystal ball has been gazed into, I have used recent quarterly reports and guidance to assist); + +* Demand continues to outstrip supply +* The Lithium price steadies in FY23 and holds through FY30 +* FOB costs reduce slightly due to larger production, better processes +* LiOH continues to sell for $2500/t higher than LCE + +&#x200B; + +https://preview.redd.it/ziou5hw6rky71.png?width=1306&format=png&auto=webp&s=27cb50b807d352d507910cabe7561e0509e8cb11 + +I was in the earnings call for Q1, some good questions were asked and the main points I took; + +* Why is sales price below market price? - Current contracts in place were not closely tied to market prices, an agreement is made for each batch based on size requirement +* How long will existing contracts yield prices so far below the market? - Didn’t give dates, but advised that negotiations seem to be pricing the supply closer to market each time +* When divvy? - Not in next two years as all free cash flow will be poured into getting existing projects optimised and new projects off the ground + +**The good** + +Company seems to be back on track post the Lithium price roller coaster recently, I don’t expect to see the same thing happen again. + +Advanced projects with cash at bank and free cash flow to further advance and add projects. + +In bed with the big boys. + +Most of the current production is contracted (good to get it sold). + +Very well diversified book of projects covering all types of Lithium supply in low sovereign risk countries. + +**The bad** + +IMO poor contract terms entered into when Lithium was already at bargain basement prices. + +Most of current production is contracted (hard to negotiate favourable pricing compared to market). + +Lacking commentary on the Borax project, doesn’t make sense to me. + +Argentinian economic conditions, high inflation and poor FX conditions resulting in losses. + +Recent changes to Argentinian tax rates. + +&#x200B; + +Disclaimer, I currently hold 25% of my PF in ASX:ORE at average of $6.62. + +*CGT is the enemy.* + +&#x200B; + +Edit: Images +On paper the company looks like it’s doing well and the below points indicate the company is performing, but the market depth / sell off are saying something different: +- Turnover increasing by 371% to $96.7 million +- Revenue increasing by 233% to $67.3 million +- Normalised earnings before interest, tax, depreciation and amortisation (EBITDA) of $9.6 million (FY20: $2.8 million loss) +- Normalised net profit after tax of $4.9 million (FY20: $5.1 million loss). + +Noob to shares, am I missing something in the numbers? +This week looks like it will be shite so i will spread some joy by giving away 2 platinum awards over the weekend. Plus a stonks go up/down award to those with the 2nd and 3rd biggest loss and gain. Pics required. + +\- One platinum for the biggest % loss on any stock you still hold- One platinum for the biggest % gain on any stock you still hold + +PLUS- A stonks go up/down award to 2nd and 3rd with biggest loss and gain. + +**Platinum Award** + +Gives the author a month of Reddit Premium, which includes 700 Coins for that month, and shows a Platinum Award. + +&#x200B; + +Mods. if this is not allowed please delete. +i lost heaps of $ all my profits and heaps of my own that am not brave enough to admit but i want to know how much you guys have lost and how you all feelin? + +i myself feelin stomach sick from this waves lol +Hi, just thought I'd give a quick update on a few non-BNPL related stocks that I know a few here have some interest in + +* CML keep releasing pics of visible gold in their Canada drill holes and the stock price keeps going down, much wailing and gnashing of teeth over at HotCopper +* AT1 up 16% today, starting to approach the numbers where all the FOMO retards for burnt. That one guy here who's all in must be thrilled, he's up a good 30%+ now +* DXB crept very low this week despite impending results from three promising trials, lots of volume as some big players are either entering or exiting or both +* NVX slowly working its way up throughout the month too but I'm not really following this one +* VDHG has moved a good 2% this month - which is significantly higher than its low, low MER, buy in today! +It is probably the stupidest thing in this market and I always see it on this sub. Recently I came across a post complaining about how DOT isn’t in the top 10 anymore but ADA is and how life isn’t fair and OP isn’t making enough money. Boo hoo. These projects aren’t different football that we all support and have to be loyal to no matter what. If you really want to make it big in this space and the technology isn’t your priority then you really need to let it go. You trade it you don’t date it. + +I am also part of several different crypto sub reddits on here and the tribalism is ridiculous. I don’t know if it’s as bad as it used to be but the Solana sub was dominated by anti ADA posts. This is the real world, crypto is and will continue to be a shared space with a bunch of different competitors. We aren’t going to reach a time when there’s only one coin and the rest have given up, that’s ridiculous. We are going to see more and more competition and more and more coins doing well. + +We need to realise that devotion individual coins doesn’t matter and getting cryptocurrency into the mainstream as a friendly environment is the true goal. Thank you for reading my rambling, have a good day. +Hey guys, I'm asking this because I've seen a lot of "HODL and stake" comments around, but was wondering if it was really worth it. Here are some of the staking rewards on Binance of some popular tokens seen here on this subreddit: + +SOL - 5,21% APY / 0,43% monthly + +SAND - 12,36% APY / 1,03% monthly + +DOT - 11,51% APY / 0,96% monthly + +VET - 3,47% APY / 0,29% monthly + +MATIC - 11,34% APY / 0,914% monthly + +ALGO - 7,91% APY / 0,66% monthly + +AVAX - 7,91% APY / 0,66% monthly + +Am I doing something wrong? Because I'm not the brightest in the room. But Liquidity Pools don't seem to be a better option either? [https://www.nasdaq.com/articles/half-of-uniswap-liquidity-providers-are-losing-money](https://www.nasdaq.com/articles/half-of-uniswap-liquidity-providers-are-losing-money) + +Anyways, keeping my money locked up for 1% return (max, usually its half) doesn't make much sense to me? Maybe its good because people since it takes like a day to get access to your tokens when you cancel the contract, it makes much harder for hackers to steal your tokens lol. What are your opinions? + +Edit: so, I just wanted to emphasize that I thought my money had to be locked up. What led me to believe so is that in my exchange that is a must and also I’ve seen many places in which either your investment gets locked or your reward for like 1 year (specially games). This logic doesn’t apply when your tokens are free to go as you’d like. Thanks everyone is this post for the awesome contribution, keep it coming, but just wanted to explain why I had second thoughts staking + There is a persistent idea that there is some special secret to getting “rich”, that if only you could find it, you could start making serious cash. Sadly, there is no secret one way to guarantee riches (or everyone would do it), except unless you're a scammer, but there is an under utilized way to make the most of your situation, and that is, at the risk of sounding like Tai Lopez, “knowledge”. + +A lot of people, from companies, to charities, to con artists, want to get hold of your money. Whether its advertising, persuading, or outright scams. Solution – educate yourself. Be aware of their tactics. The internet is one of the best resources to educate yourself, with sites like [https://moneysmart.gov.au/](https://moneysmart.gov.au/) and https://www.passiveinvestingaustralia.com/ + +Educate yourself about the rules of finance. Some rules are law, some are convention. Some rules must be followed, some can be bent, and some can be broken. Know the difference. Financial education does NOT mean paying for some overpriced “course”, it means ***asking questions***. + +Companies don’t really care about their customers - they can’t, because companies are an artificial construct whose mandated goal is profit, at any cost. Their practices are reined in by government to some extent, but probably more to limit damage to other companies than to protect customers. Government is in a compromised position to begin with, as government existence relies on those businesses taxes. + +The very nature of capitalism means there are winners and losers. If there was full employment, businesses wanting workers suffer. If there’s high unemployment, businesses needing customers suffer. There never is a good balance, as optimal employment levels include spare capacity – that’s unemployed people desperate to get a job. + +Everyone wants to pay the least for things they buy, and get the most for the things they sell. Which is an instant formula for rip offs, given human nature. Depending upon the activity, if the size of the rip off is small enough (under 10%, from my observation) then its called profit. Any more than that, and people view it as immoral and profiteering. The lines are blurred because people have emotions about money, as they have emotions about everything else. + +The government want you to stop using their money, if at all possible. Ideally, the federal government would like nothing more than for you to work, pay taxes, never be sick and die the day after you retire. You never see adverts from Centrelink saying, we can give you newstart allowance, come on down! + +There are so many different ways of living, know that you can only really understand your own life, finances, goals and problems. Don’t look at your neighbours – you don’t know whether they inherited cash from a dead relative, work stressful jobs, deal drugs on the side, have a huge credit card bill, or are looking back at you and wishing they had some aspect of your lifestyle. + +TLDR: The “secret” is – educate yourself about all aspects of finance – from the fine print of employment contracts, insurance policies, to having a general understanding of finances of the country, local councils, your super fund, everything! This education can be totally free. +Specifically seeking those that live in their house not owner investors. I only just negotiated mine down last week and now got notified today it’s gone up to 3.55 percent. + +I am with ME. + +I am curious to see others rates to see if I should move. Mine is tied to an offset but I’m not committed to using one in the future. + +Thank you. +Thinking of doing a Monash MBA $88,000 and the time investment is a lot. + +Wanting to set myself apart for management opportunities and build my business acumen, so assist more with the business side of the NFP I’m in and be a director. + +Thinking MBA will set me up for this, as well as help with networking. With the all lockdowns we may have in near future, I feel like I may as well study also +I was just reading this article about building a $1 million dollar TFSA (https://www.theglobeandmail.com/globe-investor/retirement/retire-taxes-and-portfolios/how-to-build-a-1-million-tfsa/article29655504/), and was surprised to read that a number of Canadians have already managed to do so. The maximum amount that anyone could have contributed to date is $52,000, so for a TFSA to have a value of $1 million now means they have managed to achieve roughly a 20x return so far, which I find pretty incredible. So how many people have done it? + +I did some back-of-the-envelope calculations based on some of the numbers in the article. There were approximately 11.7 million TFSA account holders in 2014, I've rounded that number to 12 million now. The CRA stated in the article that “in 2014 for example, significantly less than 0.1 per cent of the TFSA population had a fair market value of $1-million or more”, from this number I'm assuming that more than 0.01% of account holders achieved this number. A rough calculation of 12 million x 0.05% gives 6,000. Are there really around that many people who have managed to to grow a TFSA to $1 million? + +In the off chance that someone who managed to do it is reading this, what the heck did you invest in and how did you do it? +Anyone have any thoughts on this company? It's been on quite the ride the last month and seems to be in over bought territory. I've never heard of it until recently but is riding a lot of hype right now. I'm thinking of shorting it sometime soon. As much as I believe in the weed sector and the amount of money they can make, I also understand that their stock prices are very much supported by hype. These stocks swing like crazy, just trying to decide when a good time to short it would be. +Hello Investors, + +I am tempted to buy some solar panels and I was wondering what you thought of this math. + +I can install 5KW of solar for $10,000. pvwatts suggests that at my location, angle etc, I would get at least 5,000Kwh produced annually. In BC we buy power for $0.10-0.18/kwh - so it would be a 'dividend' of at least $500 per year - or 5%. + +The ten year ROI on favourite local investments like REITS, Banks, Telecoms and O&G are all around 6%. Better - but not by a lot, and they feel a bit shakier than this investment. + +I don't think that there is any way to buy solar as an RRSP (but if you have a trick I'd listen) but the 'dividend' is tax free like a TFSA because I am saving money, not actually banking it. + +Also, Solar Panels are cool. Also $10,000 won't ruin my emergency fund. + +But no one else has solar panels? Do they know something I don't? +Many stocks have over 4x their value since March and most of these are tech stocks who are not recovering but literally just multiplied by that amount since March. I’ve been mainly on the sidelines because of debt and low income and not being ready and only having a 10k emergency fund. Would it be foolish putting all of that in a tech stock? I just wonder if when I have my debt cleared and a good income if an environment like this will coming again anytime soon. Thoughts? +I’m in the middle of a divorce and haven’t had my own wheels for a year (my family has been incredible during this whole ordeal and I’m super thankful!); I’ve been saving up but lawyers ain’t cheap lol. Between the extra unemployment money and the stimulus check I saved enough to buy a used 2010 Toyota Corolla outright and still have money saved for the lawyer! +We always talk about investing and real estate. + +I want to know what are some of the other ways people are making money. Not 'black hat' in terms of immoral but some of the riskier things? + +I ask because I wasn't brought up around money and most of the things I'm learning about money, I've learned on here. Investing and real estate seems obvious. Just wondering what else people do/have done? + +Not sure that it matters really, but I have a 401k through my employer in Minnesota. It is automatically set up, so I don't even know how to view my funds. I've never picked what I am investing in, so I don't even know what my money is doing.. Probably just sitting there? I *do* know that I contribute 6% and that percentage goes up every year until I get to 10%. Company associated with my 401k is Vanguard I believe. + +I'm a 22 year old who grew up in a not-so-smart financial situation with the family, they don't really know how to save and I don't think they know anything about 401k, so I came to reddit so somebody can hopefully tell me what I should be doing right now. What is my next step? There's probably only about 2,000 in there including employer match it's fairly new. + +Edit: I also have an HSA that I have no idea what I am doing with, but my employer contributes to that too. I don't know what to do with these funds either, I'm close to 2,000 with this as well. + +Update: I gained access to my Vanguard and Further accounts. Excuse my terminology I don't have anything written down, but my 401k has been automatilly investing for me for now which is fine until I can look at it more and build more up. Thanks to everybody who has helped so far! +Do you open a brand new one every year? We did one last year (well 2, one for me, one for my wife) and in Janurary (last Jan.) she instructed me to call the bank and throw another $5500 into it. + +The bank had me open a Roth IRA exactly like it was the very first one ever. I didn't put another $5500 into the one I opened last year. + +Was that correct? It didn't feel correct... +I have a retirement account for an old job that is growing at a rate I'm rather happy with. It's set to aggressive and in the last year grew 36.5%. However, it has a relatively small balance as I no longer contribute to it. My 401k through my current job grew last year by 21.3% so it's growing a fair amount slower but the balance on it is almost double, since I still contribute to it. + +My question is, would it be better to keep my old account and let that smaller balance grow at the faster rate or move that balance into my new account so that the slower growth is building on a larger balance? + + +Hey guys (18 M), just wanted to ask for advice on my financial plan. I just want to be in a good financial position in the future and was wondering if this was any good. + +I have no student loans as I have a full ride to college with housing and meals covered from scholarships. + +1. I plan to put 3k into a high-interest online savings account (2.5%) apy - I've put in 1500$ already +2. After putting that money into savings always have at least 450$ in checkings account. The reason for this figure is the total average of my expenses are about 150$/month, lasting me for 3 months. +3. Take any extra money and invest it into high yield dividend stocks and reits such as IRM and GOOD I'm aiming for about 2000$ to be invested into these stocks + +I might invest in crowdfunded real estate but I haven’t done any research on it yet. + +My income comes from a part-time job about 800$/month, however, I will be quitting this job in early August because of school. I will be attempting to find a part-time job (400$)/ month during school but no guarantee. I am also involved in a claims case against an auto insurance company which should net me about 1300$, maybe more in compensation. I plan to put this into the online savings account. + +I have most of spending under check as I wasted a lot of money when I was 16 17 buying useless stuff until I finally learned to be financially smarter. + +Does this sound like a smart plan? + +Thank you for reading. +I am in an interesting position where I am making good money and have excellent long-term earning potential with my current company, but have an offer from another company that is 20% more than my current salary. In addition, the new position starts with 4 weeks paid vacation plus holidays and sick time, with potential to top out at 7 weeks vacation after 15 years. My current position is 2 weeks, max at 4 weeks after 10 years. + +On one hand, my current company is strong financially and has much greater long-term growth and salary potential, and on the other hand, this new offer would be great short and long-term regarding time off. + +Thoughts? Any experience with this situation, and if so, any regrets? + I am an animator. I create animated videos on different personal finance topics by using motion graphics. Personal Finance topics like... taxes, different budgeting methods, student loans, investing, credit, the differences between banks and credit unions, and more... + +I create these videos for my website. But I need some fresh "visual" content. All of my videos are short in length (around 1min 30sec. max). I keep them short because I like to skip the B.S. and get straight to the point (facts). No one wants to sit watching videos extending 5 minutes. And instead of having people pay for courses, study material, take tests and quizzes, or read pages and pages of finance books... I wanted to create videos to make things visually appealing to the eye. + +So.... What are some things students (or adults) should know about personal finance? Give me some video ideas. Personal Finance topics. Let's brainstorm here... +I have about 30k in savings that I am looking to put into something along the lines of a Roth IRA. I would like something to be able to take out in 30 years that’s going to make life more comfortable. + +I was wondering if anyone had any advice on something short term (5-10 years) or long term (20-35 years based on being 30 years old already) that is going to make my spouse and I some money down the road. + +I can provide more info if needed but I think I covered it. +Hey all - we are currently a double-income household. + +My wife makes \~$85,000 a year, works remotely, while also juggling our 10-month-old. We have an in-home nanny roughly 3 days of the week from 12 pm-5 pm, but otherwise, my wife manages the baby and work. + +I recently (9-months ago) got a very nice promotion, followed by a subsequent raise 6-months in. Prior to my new role, I was making \~$100,000 and now make $180,000 base with potential for $20-45,000 in bonuses. The new job is very demanding and requires travel once a month for 3-days at a time. I'm also completing my master's online and have one more year to go. + +We recently bought a house with 18% down, and the mortgage is just south of 25% of MY net income. + +We have roughly $35,000 in emergency funds, $35,000 in brokerage, and \~$100,000 in retirement accounts. + +Other than our mortgage (298,000 remaining at 2.68%), we have no debt. We are both \~30 years old. + +We are very happy with our life right now, but we are finding ourselves tired and overwhelmed with work, school, and the baby. We are considering my wife leaving her job to focus full-time at home, give our child the attention they deserve, while also offering an opportunity for my wife to not be doing two jobs at one time. She's been offered part-time work at her current workplace in lieu of her leaving. She (and I) are torn between her options. I've shared I support her 100% in her choice, but we also feel like we have a really good jump-start on our financial lives and wonder if this emotional decision in a "busy season" will hurt us down the road. + +I welcome any feedback! +[https://www.theguardian.com/society/2019/jul/08/nhs-faces-existential-threat-as-senior-doctors-work-to-rule](https://www.theguardian.com/society/2019/jul/08/nhs-faces-existential-threat-as-senior-doctors-work-to-rule) + +&#x200B; + +What's going on here? I can understand the not wanting to hit the pension life-time-limit. But what's with the 'having to remortgage their homes to pay' or the 'cannot afford to work any extra Saturday shifts this year because it would give him a large tax bill he cannot afford to pay'? +Many super investors are doing a ton of V but not MasterCard. + +Over a 5 year period MA actually beat V. + +But for the last year V beat MA + +Over 1 month, performance is the same. + +So what's up with Visa? +I bought a 2022 telluride and wanted to put $10k into the transaction between down payment and trade in. We told the dealer that and they looked at our car we were trading in (2009 Hyundai Santa Fe no financing on it, we own it outright) and told us they would give us $1000 for the trade in on it. I said okay I’ll write a check for $9000. After thinking about it for a bit I figured I’d rather just keep the Santa Fe as my son is getting his drivers license in 18 months so I’d just hang on to it for him. I told the dealer this and they said they’d have to check with the financing to which I said that’s fine, I’ll just write the check for $10,000 instead so the deal would be the same. He came back after a while and told me the bank wouldn’t do the financing if we didn’t trade the car in. I questioned it and he said that by trading in a car with no loan on it it shows we are financially responsible and able to pay off a loan. I told him that we never had a loan on it, we bought it with cash 10 years ago. He said that’s just what the bank says. So I went through with it and traded it in, but it’s been bothering me. So, is this a legit thing or did the dealership screw me over? + +Eta: I did get an appraisal from carvana before I went to the dealer they only offered $400 for it. https://i.imgur.com/3uRb7Q3.jpg +I was watching some videos and came across an interview with Leanne Brown. She is the author of Good and Cheap Eat Well on $4 a Day + +The idea is to help people eat healthier and cheap. + +You can download it for free (PDF) or if you pay for a copy she donates a hard copy to a family in need. + + +www.leannebrown.com/cookbooks + + +This is a cross post from r/32dollars + +Welcome to the Weekly Community Discussion thread of /r/EthTrader. + +This thread is a place for community meta discussion - to learn or make suggestions for how community members could be better served. [Donuts](/r/ethtrader/wiki/donuts) are a welcome topic here as is non-donut related discussion. +Are you a true Hodlr? Can you wait two years for the market to recover? Another 3-4 years for it to go parabolic again? + +I've been slowly accumulating ETH since June. My lowest price was $177.52. My highest price was my last purchase, in December, at $444.92. + +I'm a long-term holder. I have a 20-year time horizon. I've set up a ROTH IRA so I can hold ETH. My average cost basis is $358.50. + +I quit buying precisely because I didn't like the run-up we saw in December. Prices went parabolic, climbing too high, too quickly. I was disappointed, because I still had fiat left at my disposal. + +However, I knew I would have the opportunity to buy again, because prices would eventually fall to reasonable levels. They always do. + +Saying this in December or January or even as late as February would get you down votes. + +In December, I posted that BTC would break $8,880 and possibly go as low as $3-4,000. +https://www.reddit.com/r/ethtrader/comments/7lxipm/btc_to_range_between_880015800/ + +Then in January 17, when total market capitalization plunged from $700 billion to $428 billion, I posted that we were clearly in a bear market: +https://www.reddit.com/r/ethtrader/comments/7qrwl8/dont_kid_yourselves_this_is_a_bear_market_and_its/ + +At the time, few wanted to hear it. Now, everyone acknowledges it. + +The only question now is: how low can we go? "Buy the Dip" has not been good advice. If you bought the dip anywhere from $1400 to $600, you bought too high. + +The thing to do is to wait for the market to consolidate. We need several months of sideways price action. Only when prices consolidate for several months has the bottom been confirmed. + +After BTC crashed in 2013, it took about 17 MONTHS for BTC to find its low ... and another year for BTC to climb 100% from that low. It behaved like a stock. I would rather dollar cost average when the market is beginning to make slow climbs upward, than dollar cost average in search of the bottom. + +And are you prepared to wait 29 MONTHS for this market to recover? This is what it means to HODL. + +Past is not prologue, however. The market could recover far sooner. It probably won't go parabolic again this year or next ... but it will happen. Blockchain is the future. + +The next time we approach a $1 Trillion market cap, it will be because the fundamentals actually support that valuation. And from there, a speculative $10 Trillion market cap becomes possible. + +None of this was going to happen over night. But if you have patience (not internet patience, but real patience) you'll be rewarded. +I'm posting this in part to quell the FUD that's being spread regarding the DAO. With ETH I have been there since the crowdsale however I let the FUDers get to me and dumbly decided against investing and instead decided to wait for ETH to launch and then I loaded up in the months following launch. So this is a sort of personal payback to the FUD which I let get to me and which ended up costing me a nicer return than what I have now on paper... +