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winddude

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n1s6zn

My biggest concern is that the SEC WILL intervene during the MOASS. I want the squeeze to be allowed to be resolved by the free market and not by any government or regulatory intervention.

I'm seeing a sudden spike in posts trying to push for the SEC to intervene. This is pretty sus to me. First of all, flooding the sub with a unified talking point is the playbook that shills use as part of their propaganda strategy. We've seen it before from topics ranging from pump and dumps with silver and other stocks, to when they try to foment divisiveness based on popular users, to stupid shit like trying to scare us with taxes. The shills, HFs, and whatever PR firm they might have hired are so obvious with their message bombing campaigns that any time I see an unnatural rise in one particular topic I am sus of the intent of that messaging. Secondly, this push to try to force the SEC's hand, through hashtagging or whatever, has the same tone of urgency that shills also employ. It reminds me of the "must act now" posts to bombard the SEC with comments regarding proposed rule changes that only acted to delay the review of those rules. This campaign seems the same in that it is urgently pushing apes to act regarding something that they really don't know a lot about with unforeseen consequences. And what are those unforeseen consequences? Well, what do you think would happen if the SEC did intervene? I fear that it would result in a halting of the MOASS that would not benefit retail investors. I've done research on historical short squeezes, runs on the market and market crashes. In the overwhelming amount of cases, short squeezes and runs on the market, even to the extent that the market crashed, were allowed to play out without government or regulatory intervention. Action only came after the fact and usually resulted in efforts to increase funds to cover the obligations and debts from the squeeze or market crash. In other words, the free market was allowed to operate and prevail. That is what retail investors want in the case of a MOASS. The Shorts need to pay the price for their actions and that price needs to be determined by the market price that the holders of the stock dictate. Take a look at this FINRA page describing market interventions through history: [https://www.finra.org/investors/insights/cushion-crash-market-interventions-through-history](https://www.finra.org/investors/insights/cushion-crash-market-interventions-through-history) Time and time again, the market has not been interfered with and short squeezes and even market crashes have been allowed to play out with intervention only coming after the fact. In March of 2020 the NYSE experienced it's greatest single day loss in history. The market was allowed to play out and intervention came after the fact in the form of COVID relief bills. In 2015 KBIO was short squeezed resulting in the stock price increasing by 10,000% in 5 days. Again there was no intervention and the squeeze was allowed to play out. In 2008 the VW short squeeze resulted in that stock becoming the most valued stock in the market within 4 days. There was no intervention to prevent that. Also in 2008, the mortgage CDO and housing crisis caused the market to crash and powerful hedgefunds, like Lehman Brothers and Bear Stearns, to go bankrupt. Even that big crash was allowed to happen. Intervention only came after the fact through the TARP relief fund and money bail outs for banks that were notoriously "too big to fail." Even going back to the Wall Street Crash of 1929, which was so catastrophic that it likely was a big contributor to the Great Depression (among other important factors), it was allowed to occur and play out with intervention only coming after the fact in the form of banks (and not government) buyouts of big chunks of shares (as described in the FINRA link above). There are other examples of short squeezes, runs on the market and even market crashes that were allowed to play out without government or regulatory intervention, both in the US and markets abroad, that I will not cover because this post is already too long. But allowing the free market to play out is definitely the norm and not the exception. In fact, the only case I could find of intervention was during the LTCM crisis in 1998 when the Fed Reserve Bank of NY and most of the major HFs worked out a negotiated settlement price. And guess what? That intervention was not good for the investors of LTCM at all. So no, we don't want the fuckin SEC or any other body to intervene during the MOASS! We want it to be allowed to be played out based on the free market! Finally, these calls to urgently act in some way to force the SEC to intervene are not only sus but ignores the fact that actions are already being undertaken that do indeed seem to favor retail investors and the free market. JUST BUY, HODL, AND WAIT! The new DTCC, DTC, OTCC, and NSCC rules are already in motion and highly suggest that the market is preparing for the MOASS to occur. So no "urgent" intervention is needed nor wanted. The rules are already changing and the MOASS needs to be allowed to be resolved via the free market so proper tendies will be given. I know apes may be impatient but check out this good DD regarding the upper time limit for the new rules to be in place and how they will benefit retail investors and the MOASS result: [https://www.reddit.com/r/DDintoGME/comments/n21ml0/amc\_and\_gme\_why\_share\_price\_doesnt\_matter\_right/?utm\_source=share&utm\_medium=web2x&context=3](https://www.reddit.com/r/DDintoGME/comments/n21ml0/amc_and_gme_why_share_price_doesnt_matter_right/?utm_source=share&utm_medium=web2x&context=3) So who would benefit from the SEC intervening during the MOASS? The Shorts. The HFs. I think it's their last ditch effort to try to squirm out of paying what apes are going to force them to pay. Don't listen to the latest shill campaign to force the SEC to intervene. Don't listen to their played out tactics or false urgency and emergency. Let the free market handle this situation like the American free market should. That's how apes get all the bananas owed to them. I know this post will get downvoted to hell by all the shills and their thousands of fake accounts. I also know they will try to engage me with dumb ass obfuscating misinformation questions in the comments. Fuck you shills, I said what I needed to say. Edit: replaced the link to the DD because it was reposted.

Superstonk

Heh, they better fucking not do anything. It's 8pm in my time zone here in Asia right now, and I just spent the largest amount of money I have ever seen in my possession to participate in gme since January. If the fucking govt takes action, I will never, ever invest or so much buy another American made product ever again, that's my promise. I doubt I'm alone in this sentiment, how many more hundreds of thousands of other apes that are worldwide investing in gme, or millions of others worldwide that invest in the US markets? That confidence will collapse, resulting in a mass exodus of funds from USA, I doubt that's what the govt wants and they should be well aware of this. Tldr: they won't be that fucking stupid to interfere with the squeeze Edit: thanks guys for the awards

sbs45o

My (almost) FatFire Journey, 33F with no family money, no tech, no crypto, and no ultra high wage W2 and lots of family drama

I decided to go out on a limb and post my (almost) FatFire story in the hopes that maybe it will encourage others who do not have family money, who are not in tech, and who do not have an ultra high wage job, and also so I can look back in a few years when I am finally ready to FatFire and post an update post. I am not here to say my exact results are replicable, but just one example of how I was able to put myself on a path towards fat-fire. I think every Fatfire story also has a bit of luck involved, and this was definitely true at points for me. A little bit of background, I am a 33F who grew up incredibly poor. My parents were drug addicts and physically and emotionally abusive. We regularly had eviction notices on our door and I slept in a one room apartment with three brothers, we rarely had clean clothes and never had enough food. I was always in the gifted program and while my brothers dropped out of school early on in life (6th grade or earlier), I absolutely loved school and would make sure I was there every day as my escape. I also would read non-stop anything I could possibly get my hands on and lived in the library to escape my home. After a really bad episode of physical abuse when I was 13, I moved out. I declared myself a homeschool student and because I had already taken several high school courses at that time (along with the SATs as part of a gifted program through Duke University), I was able to go right to college at 13 as a dual enrolled student. Unfortunately, living on my own and couch surfing and being put in adult situations, I ended up being a teenage mom at 16. Despite this hurdle, I worked at night as a waitress and went to college during the day, and graduated college at 18. At 19, I enrolled in law school and graduated law school at 22, while working full time. My fat-fire journey really began in 2015 when a friend married a physician and he had owned a medical practice, but wanted to relocate and sell the practice. The medical practice was barely making money after expenses, but they agreed to sell me the practice for no money upfront and to make bi-weekly payments on a seller note. After physician payments and the seller note, there was a little money leftover and the practice began to grow at a fairly good rate. However, at this point, I made big mistake #1, I let my dad manipulate me into letting him "manage" the practices since I lived out of state and had a family and full time legal job. He basically siphoned out all of the money in the practices, he would take 90%+ of the profit as a management "fee" and then threaten me if I ever cut him out that he would ruin the practices. At this point, the profits were about $1M per year (2019), and the prior seller note had been paid off. Despite this, he was over drafting checkbooks, and we even were unable to pay a large bill that came due for the practices ($80K) because nothing had been left in reserve. I let this happen because of many years of abuse and felt paralyzed. However, in 2019, I hired an attorney to try and mediate a way to get him out of the practices while not ruining them, and even offered a very generous annual salary to just walk away. He was infuriated. Mistake #2, I did this all while I was 9 months pregnant, and he knew I couldn't travel to the practices. He pretended like he was going to go along with everything, meanwhile he had convinced the physicians to leave with him and all the patients and start a competing practice. I had a feeling something was happening (while he was telling me everything was fine), so I had my friend who sold me the practices fly back to them and see what was going on. She walked in and called me and told me the practices had been completely cleared out and emptied. As soon as she told me this, I immediately went into labor. I called a locksmith and was giving him my credit card number to change the locks as I was in the middle of contractions. My baby was born 30 minutes later in my bathroom with just my husband and I there because I had no time to get medical assistance. At that point, I had just had a baby, no income, and medical practices with no patients and no physician. I started working 20 hour days immediately. I had to file suit to get access to my Comcast accounts that he changed all passwords on (for our phone systems) as well as our Electronic Health Records System. All I had to my name at this point was $40,000 in savings. I did however, own longterm medical practices, with all the required licensing in place. I immediately started recruiting for a physician, and contacting all of our patients (who had been told our practice was shutting down). Finally, after about 2 weeks, I got a physician to agree to come into this mess (probably because a hormonal new mom was crying into the phone begging, but he was honestly my savior at this time). I immediately drove the 12 hours to the clinic site in the middle of the night, for him to start the next day. All computers/printers/equipment/even the toilet paper had been taken out of the offices, so I had to bring my baby, my home computer, my home printer, and anything I could bring so I didn't have to buy it. I arrived at 6 am and started setting up for a 9 am opening, and I was frantic. That first day back we didn't even make enough money to pay the physician his daily contracted rate, but he said I could owe it to him. There is a lot more between this and the next parts, but to spare all the long details, suffice to say I was working 20 hour days with a newborn strapped to my chest in order to rebuild the practices. I lived away from my family and my husband and I slept on a couch of a friend with my baby because I had no where else I could afford. Also, important to note that while this was all going on, I went into survival mode. I looked at my husband and said "remember when we went axe throwing about 6 months ago, it was packed and overhead was low, I have no way to make money right now so we need to open up an axe throwing range immediately." This was stupid and crazy, I admit, but I had always thought about doing it because I evaluated the potential ROI, knew they were always busy, and it was a ton of fun. We did it during a date night several hours from our home and realized that our medium sized city didn't have a range within an hours distance. I immediately started sourcing locations and submitting zoning applications. I don't even know how I did it, but in three months, start to finish, we opened our small local axe throwing range for less than $25K. I had my baby in March and we opened July 4th weekend. All the while, I was working non-stop to re-open the practice. Finally, after about a year after the birth, I had recovered, not only had I recovered, I had done better than I ever had financially because there was no "manager" siphoning off the majority of profits. But to be honest, I was EXHAUSTED. I literally would cry every other week getting on flights to go back to the practice to make sure all was okay and manage the day-to-day details. I decided to sell my practice. I met a cool, young investor who seemed like a good guy, but only had enough money to purchase about 70% of the practice. I agreed, and put a management agreement in place whereby he would manage the day to day and I would be a passive owner and retain 30% of the profits. Based on my experience with "partners" this was a huge risk for me, but I couldn't continue to work non-stop and had to de-risk. He paid $1.7M for 70% of the practice. I held a seller note of about $500,000, and received the other $1.2M upfront. With my $1.2M, I started investing in real estate in 2020. I purchased an old historical building in a super popular area close to a major national park and invested about $200k in renovations. It had been sitting on the market for 3 years at that point and because of the state of disrepair I got an AMAZING deal, $500k (total investment about $700K). Additionally, in order to keep renovations on track I had to move up to the location for two months and jump in with construction, including working 18 hour days sun up to sun down to get it ready for rental, even tiling and grouting myself when progress lagged. Also important to note, that also because I was in survival mode, I started applying for legal positions, and landed an in house remote position that I held this whole time as well. I was on conference calls while grouting my bathroom, and when I wasn't working on the house, I was working my W2. After I finished the historical building and put it up for a vacation rental, I invested in 6 other properties last year, leveraging the money I had from the partial purchase of the medical practice, as well as the 30% cash flow, along with the money from the axe throwing range, and my w2 job. I made sure that if any one thing failed, I was never going to be in a position like that again, where I had no money and no way to pay my bills. I have made sure I have about 100 contingency plans, even if it would kill me. So, there is a LOT more to all the story, but I realize that if this gets too long, no one will read it anyways, here is where I am at now: \-Medical practice, 30% passive owner earning about $30k monthly \-Historical property, paid off, invested about $700K, currently worth about $2M, and earning about $150K annually in vacation rental income \-Beach vacation rental, purchased last June for $1.2 million, leveraged with a loan for $900K, after mortgage and expenses, profit is about $80K/annually (conservatively), additionally, the appreciation has been huge, the same property a few houses up just went on the market for $2.4M, realistically, I think it would sell for $2M if listed today. \-5 long term rental townhouses, I purchased each one outright for between $105K and $125K, no loans, and they earn about $60,000 profit annually \-Axe throwing range, we are currently in the middle of a large expansion, but conservatively earning about $150k/annually \- I am still working as in house corporate counsel, I make about $170K annually after bonus = Total annual income, about $970K Assets: \- 30% passive ownership, I value this at $0 when calculating my net worth, I am too worried about it disappearing one day \-$500K seller note, expected to be accelerated and paid off in full this year \-$600K stocks \-Approx. $1.8M for historical home after selling costs \-Approx. $1M for beach house after mortgage and expenses \-5 townhomes at about $130K each, about $650K total \-Axe throwing range, $0, bringing profit but no tangible assets \-Primary home, bought before the market went crazy, and did a full house renovation, total equity about $1M but calculate this as $0 in net worth as well. \-$100K cash, and $60K in retirement = Total NW $4,710,000 This is after having only $40,000 in savings in 2019 and not having a job or any income at that point. With all of this said, I am exhausted. I feel like I aged 10 years in the last three years. I can't let go of any of the jobs, or investments, or businesses because I am terrified of not only what happened in 2019, but also because it brought up all of the insecurity of my childhood and not having food or a place to live. I don't know when I will "Fat Fire" or what it will look like. I do hope to give up the W2 at some point, but right now its my safety blanket. I am expanding the axe throwing range, and always looking at additional real estate investment. My passion is home design and renovation, I love bringing things back to life and showing other people my vision for homes they thought were totally beyond saving. I hope that one day that can be my focus, but right now, I find myself getting more cold feet when jumping into opportunities. When I had nothing to lose, I was taking risks left and right, I am definitely finding myself more hesitant to risk-take. Hopefully something to evaluate and overcome in the future. Also a future fat-fire goal, summer in Italy and learn Italian, we will see how that pans out. I was previously verified by mods, but happy to verify anything I can, because I know this has been a crazy journey. I can't give any sage advice just yet, I am still in my own process, but I hope this story gave some encouragement to others when things in their fat-fire journey have gotten tough. Also, in case anyone is wondering, my baby I had when I was 16, is an amazing honor student, champion wrestler, and is currently 17 now and headed off to college where he wants to study pre-med and become an orthopedic surgeon and sports medicine physician. My #1 goal in life was to raise my kids in a totally different environment from the one I had growing up, and the thing I am most proud of is being able to break the cycle (and if anyone is wondering, I haven't spoken with my dad since that day in March 2019, and this is definitely one of the best things to come out of what I went through).

fatFIRE

Wow you are a woman of countless trades, talents and skills! Your stress and pain tolerance is super high too. I could not manage and coordinate that many assets and in such difficult conditions too especially being a wife and a mother at same time! I hope you relax, treat and spoil yourself, you deserve it.

mqtp9i

Even a Janitor Can Do It

[https://www.joshuakennon.com/janitor-ronald-read-leaves-behind-8000000-secret-fortune/](https://www.joshuakennon.com/janitor-ronald-read-leaves-behind-8000000-secret-fortune/) It's an old story, but it really evokes the qualities of a good dividend investor Ownership > Trading Companies > Stocks Boring Quality > Reddit Stocks Time in the Market > Timing the Market

dividends

I'm a cook who makes less than 30k a year, and after a year and a half of tight budgeting and squirreling away any extra money into dividend investments I have a $20k portfolio netting me so far $800 a year in dividends. My life took a turn this last month so I might not make it to $1000 a year in dividends by the end of this year, but I still have 8 months to try, and even if I don't make it, I'll have made a minimum of $800 this year alone off my portfolio.

od0qax

It's really annoying how this sub can be boiled down to VTI + some sort of tech tilt

I'm gunna get downvoted to oblivion but... it seems everyone on this sub is doing the opposite of time tested advice - as in trying to time the market; short term investing; not buying bonds; allocating unreasonable portions of portfolio to a single specific sector; performance chasing; subscribing to "actively managed" etfs/indexes with high ERs. It's like...this sub is a culmination of everything we're not suppose to do when we're investing. There has to be more to investing besides just VTI + tech tilt. Like, we just had 10 years of rocketing tech growth and the idea this is just going to go on and on forever and you should pile more money into these over valued assets is going to leave a lot of people hurt. To answer like, 90% of the questions you have: No, going VTI then doubling up on QQQ is not a good move- it is not diversified - you are just taking unnecessary extra risk to double down on tech stock performance chasing.

ETFs

Everthing is tech. Walmart is a tech company. Tesla is a tech company. Financial services is tech. Every service & product is transforming to become a tech company and will eat any business that doesn't evolve.

73q1l6

Stop Spending Money on Food! -- BUY A CROCKPOT

**Holy shit at the money people spend on food!** And I was the exact same way when I landed my first job out of college. You know what I'm talking about--biscuit and Starbucks on the way to work, lunch out with coworkers and pizza and beer at the local tavern for dinner! Every night! All week! Professional money spender! And more beers and dinners on the weekends! Woohoo! Wait. Where did all my money go? And how the hell did I gain 40 pounds in six months? If you're nodding your head you've fallen into the brand-new-job-big-salary-eat-out-because-I-can trap. And you have to stop it. It's killing your bank account, it's killing your financial freedom and it's killing *you*. (Literally--I was on the edge of type 2 diabetes and had hyperglycemia during routine physicals.) **What you know you need to do: *STOP EATING OUT*** But how??? How do I stop eating out??? Fast food is *soooo* good! And cooking is *soooo* hard! Well, first off, not really--you're just attuned to that garbage 'food'. You're going to break free of both these stereotypes and someone has already invented it..... >Crockpot. It's the crockpot. Crockpot. Crockpot. Maybe you call it a slow cooker, but I'm from Georgia and here it's a crockpot. ***!STOP!***--If you do not own a crockpot I highly recommend you go buy one from Amazon and buy the biggest one you can afford! Get one with a timer that switches to warm after the cook settings: *JUST GOOGLE IT CAUSE MODS DONT LIKE LINKS!* **BOOM!** $39 investment. We're going to make that back in.... *three days*. Are you ready? We're going to make enough food for dinner *AND* left overs for lunch. I'm going to give you some of my super-secret-I-eat-this-every-week-crockpot-meals that are delicious, cheap, filling and easy. Yes. The crockpot makes *all* of those possible. **MEAL 1: Thick Cut Porkchop with Potatoes and Carrots** >Servings: 4 >Ingredients: >1 Can Beef Broth (50 cents) >1 Packet Brown Gravy Mix (50 cents) >1 Packet Onion Soup Mix (50 cents) >1 Package of 4 Thick Cut Porkchops ($7) >6 Carrots (50 cents) >4 Large Gold Yukon Potatoes ($2) >Sack o' Salad ($2) >Total cost for lunch and dinner: $13/4 about $3 each. >Spray or wipe crockpot with cooking oil. Add beef broth, gravy mix and onion soup mix and stir. Place porkchops in broth. Chop carrots and potatoes and add to top of porkchops. That's it. >PREPARE THIS BEFORE YOU GO TO BED FOR THE NEXT DAY! Put it in the refrigerator and pull it out in the morning. Cook on low for 8 hours. When you get home make your salad and dig in. Use the left overs for lunches and/or dinner for during the week. **MEAL 2: Sausage, Potato and Kale Soup** >Servings: 4 >1 Pound Italian Sausage ($4) >1 White Onion ($1) >1 32 Oz Box of Chicken Stock ($1.50) >1 Bag of Prewashed Kale ($3) >3/4 Cup Heavy Cream ($1) >5 Large Gold Yukon Potatoes ($2) >1 Head of Garlic ($1) >Total cost: About $14/4 = 3.50 a serving >Brown italian sausage with chopped garlic and chopped onion. While meat is browning add to crockpot the 3/4 cup of heavy cream, chicken stock, and chopped yukon potatoes. Add browned sausage and top with half the bag of kale. (I get two recipes per bag of kale). >PREPARE THIS BEFORE YOU GO TO BED FOR THE NEXT DAY! Put it in the refrigerator and pull it out in the morning. Cook on low for 8 hours. When you get home dig in! Use the left overs for lunches and/or dinner for during the week. **MEAL 3: Super Awesome Easy Chili** >Servings: A Lot (6-8?) -- I eat this *all* the time and it's delicious. Stores really well in the refrigerator (and chili gets better over time!) >3 Cans of Black Beans ($2) >2 Cans of Hot Chili Beans ($1) >2 Cans of Red Kidney Beans ($1) >8 Cans of Diced Tomatoes ($6) >1 Pound of Ground Beef ($4) >1/2 Cup of Chili Powder ($1) >1/4 Cup of Garlic Powder ($1) >1/4 Cup of Onion Powder ($1) >3 Tablespoons of Cumin ($1) >3 Tablespoons Black Pepper ($1) >Edit: The spice proportions are correct! This makes nearly two gallons of good (about 7L). >Edit: Salt to Taste($1) >Total cost = $20/8 = About $2.50 per serving >Drain the tomatoes and kidney beans but don't drain the black or chili beans. Brown the ground beef. Add everything to the crockpot and stir like crazy.... and that's it! >PREPARE THIS BEFORE YOU GO TO BED FOR THE NEXT DAY! Put it in the refrigerator and pull it out in the morning. Cook on low for 8 hours. When you get home dig in! Use the left overs for lunches and/or dinner for during the week. It's easy guys. It's really easy. You spend 15 minutes a night and you make *tons* of food for lunch and dinner and you save a LOT of money! AND ITS GOOD FOR YOU! (better than Wendy's--that's for sure!) AND ITS EASY! **Stop spending your money on eating out and go full crockpot! I am much happier and much wealthier!** EDIT: For our vegetarian friends. You can't get any more simple than this! **MEAL 4: Baked Potato** >Servings: As many potatoes as you bake >1 Potato >Cover in tin foil and place directly in crockpot. Cook on low 4-6 hours or keep on warm all day. **MEAL 5: Vegetable Soup** >Servings: However much you want to make >Tomatoes, Potatoes, Green Beans, Zucchini, Carrots, Peas, or Onions >Vegetable Stock >Onion Powder, Garlic Powder, Salt and Black Pepper >Add vegetables in any proportion you desire to crockpot and add vegetable stock until covered. Season to taste. Cook on low until vegetables are tender. EDIT 2: I live in Georgia and shop at Kroger--prices may vary. If you live in Canadia or buy organic free range vegetables harvested by hipsters with a minimum of a master's degree you will obviously pay more. EDIT 3: "Just learn to cook!"--Yeah, okay guys. I agree. I cook more than just in a crockpot. This post was inspired after I read a /r/personalfinance about a single guy who spends $1300 a month on food because "he didn't have enough time to cook with work". I wrote a very long comment and just made it into a post. The point was you can eat decent food in a short amount of time and save money by planning one day ahead. EDIT 4: I agree fresh vegetables are better and these aren't the *healthiest* recipes. This post was just to encourage those that eat all the time to transition to something healthier... and then they can transition to something even healthier... and on and on until they've become a raw vegan, growing their own vegetables, saving the whales and composting regularly. EDIT 5: Electricity costs: Crockpots seem to consume between 200W and 700W per hour. That's between 2 and 6 kWhs for 8 hours of cooking. That's about 15 to 60 cents. It seems insignificant relative to the overall cost of food. EDIT 6: I'm not a shill or marketing person for crockpot. I'm a mechanical engineer. Don't believe me? My first post on reddit ever was about bolt failures: https://www.reddit.com/r/spacex/comments/3e20vs/bolt_failure_modes/ctatj1y/ Take off your tin foil hat..... and use it to wrap a baked potato to put in your *new crockpot!!!*

personalfinance

Any recipes out there that keep the food from tasting....uniform? I'm tired of everything that comes out of the crockpot tasting like one big uniform meat splooge. Edit: Thank you guys for all of the recommendations! I’ll have to bring the splooge machine out of retirement and budget for a pressure cooker. Thanks again!

qjug3w

Finally free from the chains of being an employee - Devoting next chapter to pro bono

Burner account. 37 recently ex big law attorney who quit after hitting 10M liquid, and I feel like I’m on the top of the fucking hill after turning in my company laptop. I been practicing in an AM 50 firm for the last ten years. Saved a lot and invested wisely in stocks, options, crypto, futures, and was an OG eth and doge miner. I like practicing law but I made more this month through investments than big law paid me over the last five years. Head of my practice group called on the last day to offer a one time $25k forgivable loan that will be paid off if I stick it out another 2 years 😂 ##### please! Most hilarious part is that one of the boilerplate sections of the written offer even stipulates that my widow must return all $25k if I happen to die within the next 2 years 😂 😂 . I spent 10 years working 6-7 days a week protecting billions of profits for trillion dollar fortune 5 companies, making tens of millions for my away from the office bosses, and getting crumbs. Next Monday will be my first day as an attorney for the local pro bono organization that is dedicated to helping those who are too poor to pay for legal representation. My new salary is 30k a year (organization refused my offer to work for $1 due to legal reasons), which I intend to donate.

fatFIRE

Congrats! Did you have issues investing in stocks/options while in big law? I’ll be starting at a big firm next year and it doesn’t seem like we get much flexibility as far as investing in individual stocks

l6j4r9

Where do we go from here and who is going to step up to help us?

We have grown to the kind of size we only dreamed of in the time it takes to get a bad nights sleep. We've got so many comments and submissions that we can't possibly even read them all, let alone act on them as moderators. We wrote software to do most of the moderation for us but that software isn't allowed to read the Reddit new feed fast enough and submit responses, and the admins haven't given us special access despite asking for it. We're suffering from success and our Discord was the first casualty. You know as well as I do that if you gather 250k people in one spot someone is going to say something that makes you look bad. That room was golden and the people that run it are awesome. We blocked all bad words with a bot, which should be enough, but apparently if someone can say a bad word with weird unicode icelandic characters and someone can screenshot it you don't get to hang out with your friends anymore. Discord did us dirty and **I am not impressed with them destroying our community** instead of stepping in with the wrench we may have needed to fix things, especially after we got over 1,000 server boosts. That is pretty unethical. To add to this, people are co-opting our name on twitter. I won't mention their accounts, but lots of handles with "wsb" and "wallstreetbets" in them are pretending to speak for us. They're saying things that we don't agree with, driving traffic to derivative communities and shitty pixelated merch stores, and generally making it harder for us to define who we are. There's also too much political bullshit in a community that was never *ever* political. The only way I want to occupy Wall St is in a suit myself or rent-free in the mind of a blown up short. ~~That is why I'm throwing my support behind the Twitter handle in general. We need a way to PUBLICLY reach out to the staff of the infrastructure that is failing us so the world can see that we aren't doing anything wrong here if they don't respond. We need to be able to respond directly to a reporter that is lying to the world about our clubhouse. We can't be expected to meet any expectations when we aren't given the tools we need.~~ ~~That's not to say I approve of every message or will even be in the loop for all of them, but it's clear to me we can't do nothing and we need a megaphone.~~ ~~We'll do our best not to pretend to speak for you, but to try to speak with the volume our name now seems to command to get shit done for us.~~ EDIT: As of recent developments the aforementioned twitter handle is obviously not legit anymore. Phew.

wallstreetbets

Hoping a mod of WSB sees this: ( /u/only1parkisung I see you in a sticky) ​ I've interacted with some of you in DM's and, since you can see all the posts in the sub even when it's private, you know I own a VC firm and have at times pulled an attorney or an actuary that wasn't busy on project work to do some analysis for me. If you need it, feel free to reach out to me via DM and I'll have one of my staff attorneys write up a pro bono agreement to deal with any threatening letters or pressure anyone is putting on you, if any. Also, if you can ever identify someone misrepresenting themselves as one of you, they can issue C&D letters to those bad actors. I've already had one of them look at the potential liability of WSB both from my own perspective but also that of the random members and even the runners of the sub, and he said it was clear that there were no legal concerns there, other than the weight of a hedge fund or an entity trying to lean their chipstack into it and hoping the other side will buckle for lack of resources. I can level that playing field by making that expense precisely $0 and writing off that person's salary.

u5q4sj

The Incan Empire was the most successful centrally planned economy in history. My understanding of economics led me to believe that Centrally Planned Economies are fundamentally untenable. So why was the Incan economy so successful? Why did the Incans succeed where the Soviets failed?

[https://en.wikipedia.org/wiki/Economy\_of\_the\_Inca\_Empire](https://en.wikipedia.org/wiki/Economy_of_the_Inca_Empire#Currency_in_Incan_Economy) The Incan empire did not use coins or markets, it was centrally planned. "Taxes" were paid via labor to the state. The state provided key services, " People of the [Inca Empire](https://en.wikipedia.org/wiki/Inca_Empire) received free clothes, food, health care, and schooling in exchange for their labor " (source was the wikipedia link). Sounds almost like the dream of soviet planners right? Granted, industrialization massively increased the complexity of an economy, but with modern computing technology that complexity could be reduced no? So, then the question becomes, why did the Soviets fail where the Incans succeeded? Was it just due to that complexity? If the soviets had modern computing technology, could they have matched Incan success? Thanks!

AskEconomics

We have only limited information about how the Incan economy worked - some contemporary accounts by the Spanish conquerors and some posthumous accounts by Incan descendants, plus what archaeology can dig up. Then the surviving data has gone through various ideological filters. There is some evidence of markets in the Andean economy. Hirth & Pillsbury (2013) note that there's some evidence of Inka goods appearing in these markets, implying some unofficial trade, and that the view of John Murra that there wasn't market activity was deeply influenced by Karl Polanyi, and evolved over time. The Soviet Union wasn't a simple centrally planned economy either. There were varying degrees of legal market activity, such as collective farms being able to sell food they produced above their quotas. And we do know there can be differences between the official accounts and the day-to-day reality, for example while state-owned enterprises in the Soviet Union were officially centrally planned, they'd employ buyers to trade with other such enterprises to get their needed inputs. For all we know, the Incans similarly had flexibility like that, both de jure and de facto. TL;DR: we don't have the data to answer. Hirth, K., & Pillsbury, J. (2013). Redistribution and Markets in Andean South America. Current Anthropology, 54(5), 642–647. https://doi.org/10.1086/673114 https://www.jstor.org/stable/10.1086/673114?seq=4

faj0ip

UPDATE - Found out tenant was laid off work

***Context***: About a month ago, I [*posted in this sub*](https://www.reddit.com/r/realestateinvesting/comments/erjrqa/just_learned_tenant_was_laid_off_work/) *about my tenant losing his job and falling behind on rent. Responses to that post ran the gamut from "have a heart, you bastard" to "kick his ass out yesterday." When I see posts like that one, I usually wonder how the landlord actually handled it, and what the outcome was. I'm here with an update, which is by no means me telling you what to do. It's simply how I chose to proceed and the results.* After my previous post, I called Mr. Tenant and asked him if I could buy him a beer. He agreed to meet me at a local bar. I filled out and printed a Notice to Quit, leaving the date blank, and brought it along with me. I started by thanking him for meeting me and explaining that I'm not trying to be a jerk, but this is a business and my livelihood. I asked about his job prospects and whether he had considered finding another place to move, since my rental was too expensive for him to handle comfortably. He shared that he had just completed a second interview and hoped to hear back in a couple days. Additionally, his girlfriend had also accepted a new position. Their income prospects were looking up. He also told me that he was now getting joint custody of kids, after a bitter divorce from last year, so they would need more space. I offered to help with the search, because I know other landlords around town. He told me that he and his girlfriend should have paychecks in the next 2-3 weeks, and that he would pay as much as he could when those came in. Additionally, they expected tax returns by the end of February, and would pay everything current, including late fees. I decided to give this a chance to work. I explained the Notice to Quit to him, and I wrote in 2/15/20 as the date I would begin the eviction process, if he had not paid at least a full month's rent (he was past due for Jan and Feb). He agreed, signed the document, and thanked me for working with him. The next day, I called around to see if any of my contacts had a 3-bed house available. One did, so I explained the situation to him. He is more comfortable dealing with the "edge cases," so he agreed to let them move in, once they had proven they could get current with me. We set the tentative move date for 3/15. Mr. Tenant texted me to confirm he had been hired at the new job. Two weeks later, I got a payment for January rent + late fees! Today, I got the remaining payment for February rent + late fees and an unpaid pet fee!! They're now paid completely current, and they're going to be moving into a less-expensive 3-bedroom house just down the street. I'm so happy with the way things turned out. I recognize that I took additional risk by being patient with them, but it has definitely paid off in more ways than one. **TL/DR - I decided to be patient and work with a tenant, who had fallen on hard times, and was two months behind on rent. The situation worked out well for everybody, and I've now been paid in full.**

realestateinvesting

God, eight years in the industry, trying to be cool, and that NEVER ONCE happened to me. Being nice meant losing money 100% of the time, and by the time I made up my mind to stop the hemmorage it was months behind. This is not the norm. Buy that tenant another beer and thank him for his honesty: its rare.

lppquu

Warren Buffett Quantitative Checklist - 5000+ Stocks Rated

Hey everyone! I recently read a great book on Warren Buffett called Buffettology. The book lays out a whole set of criteria that Buffett looks for when buying stocks so I thought… alright, let’s see if we can grade all the stocks! Here, in this post, are the results. # The Rules First, the rules. Each rule below receives a point for a pass, and no points for a fail, much like the Piotroski Score. The points were gathered from insights in Buffettology (I’d recommend a read if you haven’t already). * Rule 1 - Consistent Earnings (5yr / TTM growth > 0%) * Rule 2 - Good debt coverage (can pay down debt in <3yr) * Rule 3 - High Return on Equity (>15% average over 5yr) * Rule 4 - High Return on Invested Capital (>12% average over 5yr) * Rule 5 - FCF Generation (TTM FCF > $0) * Rule 6 - Buying Back Shares? (Share count today < share count 5yr ago) * Rule 7 - IRR greater than Long-Term Treasury (initial rate of return > 1.1%) * Rule 8 - ERR greater than 12% (expected rate of return > 12% - calculated using analyst growth estimates) Now, the data. Like always it’s in a Google sheet. I have ranked the stocks from 8 on down. If you’re interested in a particular stock, search for it within the document. # The Data The data: [https://docs.google.com/spreadsheets/d/1GLuUXKGBg7Rq0LgkdVPcybHKnsEl44eQ1cadtz84oZ0/edit#gid=0](https://docs.google.com/spreadsheets/d/1GLuUXKGBg7Rq0LgkdVPcybHKnsEl44eQ1cadtz84oZ0/edit#gid=0) # Feedback Got a rule you think should be in there, or something confusing about the score? Let me know. I make quirky things like this quite frequently for my YouTube channel (won’t link to avoid breaking any rules), and would love to take some feedback on continue iterating on this Warren Buffett checklist.

ValueInvesting

Great breakdown of the rules. Reading Rule #1 by Phil Town right now, will add Buffettology to the list. More about growth investing than value but I really enjoyed 100 Baggers by Christopher Mayer also.

lhtodm

Historically it's way better to invest at market close than at market open, most gains occur overnight

Found this 2018 article, interesting/fun fact: [The Stock Market Works by Day, but It Loves the Night](https://www.nytimes.com/2018/02/02/your-money/stock-market-after-hours-trading.html) * If you had bought the SPY at the last second of trading on each business day since 1993 and sold at the market open the next day — capturing all of the net after-hour gains — your cumulative price gain would be 571% * On the other hand, if you had done the reverse, buying the ETF at the first second of regular trading every morning at 9:30 a.m. and selling at the 4 p.m. close, you would be down 4.4% Chart: [https://i.imgur.com/YPTjg3v.jpg](https://i.imgur.com/YPTjg3v.jpg) Disclaimer - I'm not posting this to endorse the above strategy, I prefer to buy and hold.

investing

It's NOT TRUE to say "it's better to invest at market open than at market close." The red line on your graph shows that during daytime trading, prices have essentially averaged out to flat (0%). That means if you bought in the morning, you would do just as well as if you bought at close, as long as you're not selling your whole portfolio EVERY NIGHT and re-buying it every morning. In other words, someone who buys in the morning and holds gets to enjoy the overnight growth just as much as someone who bought right before close. So, you don't get any advantage by placing orders at the end of the day instead of the beginning. Also, while this statistic is surprising, it's not as crazy as it sounds. There are only 6.5 trading hours per business day. Adjusting for holidays, there are 253 trading days per year, so 1644 trading hours. There are 8760 total hours in a year, so only 19% of total time is during trading hours. Thus, we'd expect 80% of the gains would happen outside trading hours anyway. It's surprising that it's "100%", but still not as crazy as it sounds at first glance.

p5wq7w

I have $50,000 fake dollars to invest in the ASX, any advice?

For my Economics class I have to play some weird ASX game where you get a fake $50,000 dollars to trade over an ASX simulation for the next few weeks, any advice on what the hell to invest in? Any advice will be greatly appreciated. Thank you. ​ Edit: thanks for all the good advice, I will invest now

ASX_Bets

Your economics class is a sham. The winner is based on who made the most money in a few weeks, meaning they're teaching your to punt on high-risk, high-return spec stocks. You don't need to go to school for that, just sniff enough glue and subscribe to this subreddit.

lierp0

Advice for a beginner

I’m very new to investing and really appreciate the solid DD’s of this group and the lack of memes and jokes so thank you for that. As a new investor (more like gambler, since that’s how I’m behaving) I’m looking for some sound input on how those who have been at this for a long time control your emotions. I only put in what I was comfortable playing with and losing to begin with as I work on expanding my market education. I’m currently in and out of news articles daily, Reddit posts daily, cannot stop watching tickers, and good lord I’m a loser to FOMO. Even with FOMO I tend to do my own DD on the company and if it’s not something I truly believe in, I won’t move on it, but if it’s something I see profit in I will make a move, my problem is patience, I begin to panic in the red, and hold too long in the green. So how do you all do it? How do you constantly stay sound throughout all of this. Is this something all new investors go through behaving like? Or am I the odd one? I think my problem is I want to achieve what everyone wants (big profit) but let me emotions take over and mentally weigh me down. Don’t worry none of this has been affecting my personal life or my full time job. This is simply a new hobby which I’ve taken interest in and again have only put in “fun” money to learn and expand. Any advice is great on controlling the emotions. Thanks everyone.

Canadapennystocks

Turn your FOMO into ROMO (realization of missing out). Sometimes you’re just late for the bus and that’s okay. Look for another play. That’s the best advice I can give you. Every day there’s big plays going on so just because you miss one doesn’t mean there aren’t others.

5pk94w

My Dad just figured out he's been paying $30/month for AOL dial-up internet he hasn't used for at least the last ten years.

The bill was being autopaid on his credit card. I think he was aware he was paying it (I'm assuming), but not sure that he really knew why. Or he forgot about it as I don't believe he receives physical bills in the mail and he autopays everything through his card. He's actually super smart financially. Budgets his money, is on track to retire next year (he's 56 now), uses a credit card for all his spending for points, and owns approximately 14 rental properties. I don't think he's used dial up for at least the last 10....15 years? Anything he can do other than calling and cancelling now? EDIT: AOL refused to refund anything as I figured, and also tried to keep on selling their services by dropping the price when he said to cancel. I got a little clarification on the not checking his statement thing: He doesn't really check his statements. Or I guess he does, but not in great detail. My dad logs literally everything in Quicken, so when he pays his monthly credit card bill (to which he charges pretty much everything to) as long as the two (payment due and what he shows for expenses in Quicken) are close he doesn't really think twice. He said they've always been pretty close when he compares the two so he didn't give it second thought.

personalfinance

True story- my mom died rather suddenly a bit less than a decade ago, and my dad and I had to go through all her subscriptions etc and discontinue them. This usually involved sending people copies of her death certificate so they would believe us that she had died. AOL was the only company that wouldn't accept her death certificate. They demanded that we give them her account password or they refused to shut down her account. Since we didn't have the password, they kept billing her credit card. I'll skip all the letters and phone calls my dad used to try and end the madness - eventually, he called the credit card company. They said they couldn't simply block one company from charging, but they Could create a new credit card and transfer any Other charges over to the new card (car insurance etc) while leaving AOL to charge the defunct number. We readily agreed. Soon, AOL was sending us angry letters and collection notices with late fees and penalties applied. Because they wanted money from my dead mother for the Internet she wasn't using. When AOL finally gave up, they forwarded our account to a debt collector... who contacted us once and then stopped upon realizing mom was dead and we didn't even want the service. I will never forget the final letter AOL sent us, after more than a year of fighting.... "If you do not pay in full Immediately... your account will be terminated."

p9eu0f

Is planned obsolescence necessary in a capitalist economy?

In my US History class in high school we learned that one factor that lead to the Great Depression was items that were "too good." The explanation was that in the beginning of the 1920's people bought many appliances and other stuffs. However, since the products were built-to-last, products were being bought less and less over time leading to a less stimulated economy.

AskEconomics

>Is planned obsolescence necessary in a capitalist economy? No. >In my US History class in high school we learned that one factor that lead to the Great Depression was items that were "too good." The explanation was that in the beginning of the 1920's people bought many appliances and other stuffs. However, since the products were built-to-last, products were being bought less and less over time leading to a less stimulated economy. That.. was a terrible history class then. That's not even really in the ballpark of remotely correct explanations. A lot of things happened, for a decent relatively detailed account, see here: https://eh.net/encyclopedia/an-overview-of-the-great-depression/ But by and large the cause of the great depression was bad monetary policy. Also, no, planned obsolescence is not necessary for a capitalist economy. The thing is, individual companies are of course interested in people spending their money on their products, but as far as the economy as a whole is concerned, this doesn't matter. If people would buy longer lasting products, they wouldn't just have more money they would never touch, they would simply spend it on something else.

pyqtdm

Gamestop NFT dividend confirmation from Computershare

FINAL UPDATE: Computershare has communicated to me that they do NOT have any knowledge of Gamestop releasing an NFT in the form of a dividend. Debunked by Computershare. If Gamestop confirms in the future I would like Ryan Reynolds to play the part of the CS ape. http://imgur.com/gallery/I2ZewJB Lots of speculation on an NFT dividend from Gamestop. I thought it would be a good idea to run that by computershare. I used Computershare's general inquiry tool to ask a hypothetical question about dividends and what would happen with an NFT if I were holding as book entry or dividend reinvestment. I wanted to ensure I had total control over the dividend if that were to happen... This is the response I received: https://imgur.com/YnvxRWj "Dear Sir/Madam: Thank you for contacting Computershare, the transfer agent for GAMESTOP CORP. We appreciate the opportunity to be of service to you. GameStop is still preparing to release a Non-Fungible Token (NFT). The shareholders will be notified once it is declared. Should you have other account related questions, please call us at (800) 522 6645 during regular business hours. Please note that any available representative can assist you. Sincerely, Computershare Investor Services Our ref: GME / ######### / ######## (removed the reference numbers) Attachment: None(1) Online Account Access: Most shareholders can manage their holdings online with free access to Computershare’s Investor Center website. Use this simple tool to quickly and easily update account information, sign up for electronic delivery of documents and more. Enroll FREE today at www.computershare.com/investor. Got a question? Ask Penny, Computershare’s virtual agent, at https://www-us.computershare.com/Investor/Help. I contacted CS immediately to verify the email address it came from. It was confirmed via phone that it was in fact their email. I've reached out to GameStop investor relation via phone and email without a response. Confirmation bias to the max! EDIT: I've been sitting on this since yesterday. Didn't want to post because the email addresses seemed off to me. If somone wants to initiate a chat with Penny and confirm for themselves and respond back here go for it. I confirmed over the phone. MOD team can message me and I can provide anything need to confirm. The email is legit. Heres the modmail I sent yesterday https://i.imgur.com/gUXIzGd.jpg (fixed link again) UPDATE #1: I appreciate all the skepticism and feedback. I want to be clear that my intent with this post was to raise awareness on the surprising content of the email and get some help digging into it. I made an effort to reach out to computershare multiple times as well as several phone calls to Gamestop investor relations including an email. I went as far as messaging Gamestop on a social media platform asking for help to get ahold of someone from the investor relations team before posting here. I'm not advocating for anyone to make any financial decisions based on this. I'm not a financial advisor. The DD previously posted on reddit speaks for itself. If you don't understand any of this, read the DD. I'll update if I learn anything new. This can not be confirmed by anyone but Gamestop. Do I believe it? Yes. I like the stock. Update #2: Received a call from CS supervisor and reaffirmed the email is real. On their internal update board there is no information on an NFT from Gamestop. The CS liason to GS is making contact to speak about the content in the email. CS is investigating internally who and how this info was sent. It is not a BOT generated response. It had to be sent by whoever reaponded. There is no agent user ID in the notes. I will likely have a follow up from them on Monday. Still trying to make contact with GS investor relations as well. Update #3: Received two more emails from computershare. 1800 yesterday and another 34 minutes later. http://imgur.com/gallery/VxpXDLq Update #4: Got another email today. I have no idea why they sent another one. I've had zero contact since my last call. I guess they needed to let me know they sent the info in error for a 3rd time.. CS email #3 https://imgur.com/gallery/6e5qvwV

Superstonk

Attempting to reach out for verification now, I will keep everyone posted. \_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ EDIT - We have now received 3 separate examples of emails from this email address, all were received by apes who sent queries through the link on the Computershare site. Thank you to the apes who were willing to share. We have looked over the actually emails after they were forwarded to us, they are legit. **At this point in time, it is almost a certainty that this email address is in fact an official Computershare email. That said, we still are not able to verify whether this employee was simply using a poor choice of words, actually knew something, or was just BSing. We are still waiting to hear back from Computershare as** u/Doom_Douche **mentioned above so hopefully that will provide some clarity 🤷‍♂️**

88unax

If you’re ripped off by Comcast (or any internet company), Wells Fargo (or any bank/student lender), or Aetna (or any health insurance company), here’s how to get your money back.

Update 3: $3332 returned! Update 2: Holy moly! $2361 returned to redditors so far! If you reached out for help, don’t forget to share your update here! Update 1: WOW! Thanks for your votes and gold and sweet notes. Adding more resources below and an ask to share this post with people who might need it. — All of these companies are regulated — a government agency is paid by your taxes to make sure you’re not ripped off. These companies also rip you off in small amounts in part because they assume you won’t do anything about it. When you complain about it to the government agency that regulates them, they not only fix your problem but if enough people complain, they’ll fix the whole system, which helps other people. The types of problems could be billing (they overcharge you), service (you’re not getting what you’re paying for), unfair and deceptive practices (you were tricked) or more. All of these complaint systems work in 2 weeks or less and it’s awesome. It’s sort of crazy more people don’t know about them. Internet: https://consumercomplaints.fcc.gov/hc/en-us/requests/new?ticket_form_id=38824 Banks/student loans/credit reports/debt collectors etc: https://www.consumerfinance.gov/complaint/ Health insurance: Google “[state where you live] health insurance complaint” and select the government agency that will let you file a consumer complaint. It’s usually an insurance commissioner. Here’s the form for Texas for example: http://www.tdi.texas.gov/consumer/complfrm.html#four Cable: https://consumercomplaints.fcc.gov/hc/en-us/requests/new?ticket_form_id=33794 Cell phone: https://consumercomplaints.fcc.gov/hc/en-us/requests/new?ticket_form_id=39744 Other company (home security system, eBay, Amazon, contractors): google “[your state] attorney general consumer complaint.” Your landlord (won’t return your deposit, won’t fix the heat etc): google “[your city] tenant advocate.” They typically have excellent, free advice. Kind of everything falling apart (out of money, need housing help, low cost/free health or mental services etc): Call 211 (works in many us cities but not all). It’s like an artisanal version of this post — they will personally help you find all the local services. If you’re not sure where to complain, share your issue in the comments and I’ll help you find the right spot!

personalfinance

I can't count the number of times comcast has tried to charge me a "modem rental fee" even though I've had my own modem for years and years. I've had to call them, had to show them proof I bought my own modem, etc and still every so often around once a year or so I'll get a letter stating that through their records that they found out I wasn't being charged correctly blah blah and it all starts over, so freaking annoying.

abq2fu

Upthinity: All in One Crypto App Hub to Enable Efficiency in Both Spending and Earning Crypto

As of 2018, statista reported that there are over 28 billion Blockchain wallets. This clearly shows just how cryptocurrencies have taken the world by storm. Thanks to the many cryptocurrencies and exchanges available out there, crypto enthusiasts can now travel, spend, and earn cryptocurrencies almost anywhere from their Blockchain wallets. However, there is a catch. Unless you have access to a reliable exchange with support for the most useful cryptocurrencies and a superb customer care, spending or earning crypto can be a little tricky. In fact, even having the most popular crypto assets is not enough. There are just too many unreliable and unsecure crypto apps and exchanges. For instance, reports indicate over 980,000 Bitcoins have so far been stolen from exchanges. Other reports indicate that over 50 percent of exchanges and crypto apps are unsecure. Additionally, even the most secure exchanges and crypto app resources have failed to entice crypto enthusiasts as they have no significant rewards yet that makes mad profits from stored tokens on their platforms. Furthermore, the issue of high transaction costs and increasing network congestion especially with top crypto assets is something we cannot avoid.

crypto_currency

Upthinity is always thinking ahead. Over time, strategically, with community survey participation, Upthinity will streamline them business models and add other viable upcoming blockchain projects in various sectors (media, healthcare, security, banking, etc.…), progressively building a stronger ecosystem.

abq2fu

Upthinity: All in One Crypto App Hub to Enable Efficiency in Both Spending and Earning Crypto

As of 2018, statista reported that there are over 28 billion Blockchain wallets. This clearly shows just how cryptocurrencies have taken the world by storm. Thanks to the many cryptocurrencies and exchanges available out there, crypto enthusiasts can now travel, spend, and earn cryptocurrencies almost anywhere from their Blockchain wallets. However, there is a catch. Unless you have access to a reliable exchange with support for the most useful cryptocurrencies and a superb customer care, spending or earning crypto can be a little tricky. In fact, even having the most popular crypto assets is not enough. There are just too many unreliable and unsecure crypto apps and exchanges. For instance, reports indicate over 980,000 Bitcoins have so far been stolen from exchanges. Other reports indicate that over 50 percent of exchanges and crypto apps are unsecure. Additionally, even the most secure exchanges and crypto app resources have failed to entice crypto enthusiasts as they have no significant rewards yet that makes mad profits from stored tokens on their platforms. Furthermore, the issue of high transaction costs and increasing network congestion especially with top crypto assets is something we cannot avoid.

crypto_currency

Upthinity Pay will be a one-stop payment solution for all your shopping needs. We’ll partner up with major big-box and online retailers, allowing crypto-currency holders to purchase everyday essentials quickly and easily no matter where they are.

lefqf9

I just won £125,000!! What do I do now?!

I just won £125,000 on an online casino!! I am not kidding, I can show proof if you'd like. I am literally over the moon, my savings before this were around £20,000 so this is completely life changing money. I am 18 (on a gap year) and this money would be able to pay for my entire uni course and more. I am so happy, this feels unreal. I don't want to do anything wrong now though. What do I need to do, who should I tell, and should I seek professional advice for investing some of the money?

UKPersonalFinance

Retire from gambling right now. Withdraw all balances, close all accounts. Never again, not even on the World Cup final. The house always wins in the long run. Quit while you’re ahead. Don’t tell anyone, not yet. Don’t buy flash stuff either. If people find out they’ll ask for loans (they will never ever repay you) or outright try to steal it. Keep it secret, keep it safe. If you drive resist the urge to buy a fancy motor. Cars are an easy way to waste five figures. What are your goals? You mention uni, but there are bigger questions. Where do you want to live after? What are your career prospects? Do you want a family? If I suddenly had £145k all those years ago I’d do the following: * £100k is a house deposit fund. I’d stick this somewhere slightly tricky to access. You can stick £20k a tax year into S&S ISAs - a way of investing in stocks. Put it in and leave alone for five or more years. * £30k is tuition fees + stuff like textbooks. Depending on your career prospects taking out student loans might actually be more sensible due to the way writeoffs work. * £15k to be spent by graduation, mostly on beer and travel get a job at uni. You won’t need many hours but you’ll want work experience.

qpzbfk

☢️☢️☢️ The U3O8-Ultimate ASX Uranium Company Performance and Comparison - Updated Nov 2021 ☢️☢️☢️

# Introduction Without a doubt 2021 has been the most pivotal year for the uranium industry in more than a decade. The markets, politicians and corporations appear to have recognised that without nuclear power being a part of the energy conversation, a sustainable, zero carbon emission future will be near impossible to achieve. This recognition, coupled with multiple other factors including; major supply deficits, the exponential growth of the EV industry and its increasing power requirements and, more recently, the emergence of the Sprott Physical Uranium Trust (SPUT), has helped the spot uranium price hit near decade long highs. As a result we have seen massive gains across the uranium equities, particularly those on the ASX. But the best part is that the current cycle is still in its infancy. It is unlikely new production will come online during the next 12 months and further uranium price increases will be necessary for brownfield and almost all greenfield projects to commence. To put how small the uranium market still is into perspective: The WHOLE global market is worth only about US$42 billion (to date). That is all the uranium equities all around the world, the ETFs and major funds are worth a combined $42billion. Now Glencore is just a single major coal producer and has a market cap of US$64.46 Billion ! Let that radiate for bit. **This post will cover**: * Performance of ASX Equities for the past year and past 3months (Charts) * The different types or stages of the ASX Uranium Equities (miners vs explorers) * Comparison of the key mining and mine development companies * Company Briefs and Updates * Activities Last 12 months * Pros and cons for each * ETF Inclusion and re-balancing * Punt’s Rocket Rating Update 🚀 For details of the [Uranium Bull Market Background](https://www.reddit.com/r/ASX_Bets/comments/lftl86/the_emerging_global_uranium_bull_market_a_summary/) \- see this post originally from September last year which was revamped in Feb 2021. For a detailed post on **everything** Nuclear Power, The Uranium Market update, SMR technology, managing waste, nuclear costs and much more - see \*\*this\*\* detailed u/Mutated-Cunt and u/Calculated-Punt collaboration post **\*\*"this" is due soon and will be linked here\*\*** # ASX Uranium Performance - Chart Comparison [1 Year Performance Graph \(weekly\):](https://preview.redd.it/r2gw70k8viy71.png?width=903&format=png&auto=webp&s=5b8088ee7ad93633339b95c4850da5c55168ad1e) [3 Month Performance Graph \(weekly\)](https://preview.redd.it/eekpklneviy71.png?width=903&format=png&auto=webp&s=6da50e215841d79079ed6a5ba5dda3fa624338e9) # Types of ASX Uranium Companies The uranium companies can be divided into 3x Key Categories: **Miners** or near term producers, **mine developers** and **exploration** companies. There is also one uranium enrichment technology company on the ASX - Silex Systems (ASX: SLX) - but that is not included in the coverage. **ASX Uranium Miners / Producers** This covers the few ASX companies that have a uranium mine somewhere in the world that uranium can be produced from though may require some capital investment to restart. Currently ALL ASX dedicated uranium miners have their mines shut-in on care and maintenance while uranium prices are too low to sustain operation of the mine. The uranium miners will be the first to re-introduce supply to the uranium market when higher contract term prices are signed. Some of these miners, even though shut-in, have been purchasing physical lbs of uranium (like BOE to PEN) as a strategic stockpile investment and to also meet existing contract deliveries. There are also companies like BHP and Rio Tinto that have some uranium production, though this is not a primary asset, and for the likes of BHP uranium is a by-product from the copper Olympic Dam mine. These companies are not included in the coverage. Below are the main ASX uranium miners * **Peninsular Energy** (ASX: PEN) ---- Lance Project ISR Mine in Wyoming. Previous Producer. On care and maintenance. * **Lotus Resources** (ASX: LOT) ------ Purchased the open-pit Kaylekera mine in Malawi from Paladin in March 2020. On care and maintenance * **Boss Energy** (ASX: BOE) ----- Purchased the Honeymoon ISR mine from Uranium One in 2013. On care and maintenance * **Paladin Energy** (ASX: PDN) ---- Retained the Langer Heinrich mine in Namibia - developed in the last cycle. On care and maintenance **ASX Uranium Mine Developers** These companies are those that have proved up a significant uranium resource and have conducted a series of studies or pilot plants for a large mine development. The Uranium Mine developers include: * **Aura Energy** (ASX: AEE) ----Tiris Project in Mauritania * **Bannerman Energy** (ASX: BMN) ---- Etango Project in Namibia * **Deep Yellow** (ASX: DYL) ----- Tumas Project Namibia * **Toro Energy** (ASX: TOE) ----- Wiluna Project - Western Australia * **Vimy Resources** (ASX: VMY) ----- Mulga Rock Project - Western Australia **ASX Uranium Explorers** Not necessarily dedicated to just uranium exploration as many exploration companies are in the search for other minerals such as gold, vanadium, battery metals and rare earths and will jump between what is hot at the time. This selection has some drilling or exploration committed to uranium exploration with at least 40-50% of the company and funding focused on the asset. * **GTI Resources** (ASX: GTR) Exploration in Utah and Wyoming (USA) * **92 Energy** (ASX: 92E) Exploring Athabasca basin (Canada) * **Elevate Uranium** (ASX: EL8) Largest tenements of exploration in Namibia * **Alligator Energy** (ASX: AGE) Exploration tenements in SA and NT (Aus) There are a number of additional “uranium exploration companies” that don’t meet the criteria for worthwhile assessment. # ASX Uranium Miners and Developers Comparison Chart Credit to u/gloriathehippo for helping compile this table. NOTE: if you copy this table - then give credit where credit is due please. [Comparison Table of ASX Uranium Miners and Mine Developers. ](https://preview.redd.it/nql9eukzwiy71.jpg?width=1280&format=pjpg&auto=webp&s=2b6a3f549a1143c23e327f430c3a594168e78a75) # ASX Uranium Companies Brief and Update # Lotus Resources (LOT) **Brief History** Lotus purchased the Kaylekera mine (Malawi) from Paladin in March 2020 along with the surrounding exploration leases and infrastructure. Kaylekera previously produced 11Million lbs under Paladin operation from 2009-2014. **Key Activities Last 6-12months** * Ore Sorting Trials - Results of increasing grades by up to 100% with higher recoveries >92% (i.e. they autonomously sift through the ore to dispose of excess waste material before it goes through the mine plant). * Increased ownership in Kaylekera from 65% to 85% (remainder 15% with Malawi Government) * Near mine exploration - very under-explored with high upside potential * 5,000m RC Exploration drill program - exploring for uranium AND rare earths * 4,000m focused on Uranium and 1,000m focused on RE - results due late 2021 * Acquired tenement with proven 6M lb in ground resource for $0.004/lb (total $25k) * Cash of $29.1million with many options yet to be converted **Potential Catalysts and Forecast Activities** * Exploration Drilling results due late 2021 --> increase uranium resource size * Rare earth discovery * Definitive Feasibility study (DFS) due out in June/July 2022 * Looking to go into contract negotiations in 2022 * “Plan is to lock in multiple contracts in a layered approach with some produced lbs kept to the side for sale into spot market to maximise capital value” **Timeframe to production** * DFS +6months to negotiate capital and on contracts → end of 2022 for FID * Refurbishment of plant to take 12-15months to complete → be producing uranium by Q1 2024 [Lotus Resources Pros vs Cons](https://preview.redd.it/mwq0q5fzxiy71.png?width=719&format=png&auto=webp&s=7e0763fd77883ae43d942da53410f1bdeec22fd0) # Boss Energy (BOE) **Brief History** Boss Energy (formerly Boss Resources) purchased the HoneyMoon mine and plant in central South Australia from US company Uranium One in December 2015. BOE has since increased the JORC resource size from 16.6Mlbs to 71.6Mlbs (\~331% increase), undertaken a number of studies and plant optimisation improvements and purchased 1.25 Mlbs of U3O8 as strategic stockpile. **Key Activities Last 6-12months** * Feasibility Study (FS) - Released in January 2020 * Completion of Enhanced Feasibility Study (EFS) - Released in June 2021 * Plans to remove the existing SX plant and replaced it with IX capacity to increase the production profile to 2.45Mlb/annum over a 10+ year mine life and reduce operating costs to achieve industry benchmark goals for low-cost producers of AISC of US$25/lb and cash costs lower than US$20/lb. * Completion of two significant capital raisings: first for $15 million(@ $0.067/share Oct 2020) and an additional $60 million (@ $0.14/ share) during March 2021. * Purchase and acquisition of 1.25 Million lbs of physical U3O8 @ US$30.15/lb - March 2021 * Total cost of US$37.68M (A$49.69M) . This inventory is now valued at US$53.75M (A$73.83M) at spot price of US$43.00/lb. A$24mill book return on investment. * Accelerated development of the exploration program which has already seen a JORC increase from 16.6Mlbs to 71.6Mlbs. “In addition to the substantial profit we stand to make on this investment, the stockpile de-risks our start-up process and therefore strengthens our hand in negotiations with potential customers.” - Duncan Craib (MD) **Potential Catalysts and Forecast Activities** * Ramping up of exploration activities with drill programs commencing in the December quarter 2021. * Signing of first long term contract(s) * FID and expediting time-frame to mine and plant restart [Boss Energy Pros and Cons](https://preview.redd.it/lqfvuuj3yiy71.png?width=704&format=png&auto=webp&s=d80183476c81d5259dcf989511b1cfc6b61f45d3) # Peninsula Energy (PEN) **Brief History** PEN is an Australian listed uranium mining company which commenced in-situ recovery uranium operations at their flagship 100% owned Lance Project (Wyoming) in December 2015. They have an existing contract book with about US$8mill revenue per year despite having their mine shut-in for the past 3 years. They are currently embarking on a trans-formative initiative to change from an alkaline ISR operation to a low pH (acidic) operation with the aim of reducing the cost profile and improving production efficiency. PEN requires approx US$6mill to convert the whole mine from alkaline to pH operation and approx 8months time frame following FID. **Key Activities Last 6-12 Months** * Advancing transition to low pH ISR process through field demonstration * Demonstration has been operating for 12month - with uranium grades indicating that Lance is better suited to the planned low pH process than previous alkaline based operations. * FY2021 uranium sales of 275,000 lbs - continue to generate cash for PEN * An increase in lbs sold and for a higher recognised price per lb * Cap raise of A$15.4 million (@ $0.015/share) to purchase 300,000 lbs or uranium at US$31.35/lb * As of June 30th 2021, Net cash of US$6.7mill + 309,507 lbs of uranium inventory (book value of US$9.7mill @ $31.37/lb) **Potential Catalysts and Forecast Activities** * US Dept of Energy progressing Uranium Reserve - PEN seeking to be active participant (potential funding from reserve or offtake agreements) * Completion of field demonstration (started in August 2020, expected to run 18-24months) * FID and restart of operations (will require some additional funding \~US$6mill) * Likely to develop additional fields to replace depleting ISR operations ($$) [Peninsular Energy Pros vs Cons](https://preview.redd.it/190mwq4fyiy71.png?width=726&format=png&auto=webp&s=5c9badcec97a356437db0b896786cd1339005dec) What does an insitu-recovery mine look like? Those black barrels are ISU wellheads and pumps. [Lance Project ISR Uranium Mine - Wyoming USA](https://preview.redd.it/5u1ou5miyiy71.png?width=602&format=png&auto=webp&s=bb9f7fb2d7527893c12d9808285a39b85f3beb97) # Paladin (PDN) **Brief History:** Paladin is one of the very few OG uranium miners that are still around from the previous major 2005-2011 cycle. They built the flagship Langer Heinrich mine in Namibia and later the Kaylekera mine in Malawi that they sold to Lotus Resources in March 2020. PDN own 75% of the Langer Heinrich mine with the remainder shared between Namibian government and CNNC. The mine produced over 43Mlb of U3O8 but was suspended in 2018 due to low uranium prices. Paladin also own a large global portfolio for uranium explorers assets. **Key Activities Last 6-12 Months** * Progress restart plan elements * Optimise pit design, tailings management and mining schedules * Appointment of key contractors * Capital raise of A$218.7M to redeem and cancel US$115m senior notes (i.e. debt repayment) * Company held US$30.7mill of cash and cash equivalents by June 30th 2021 **Potential Catalysts and Forecast Activities**. * Sell of some exploration assets to raise funds * FID to expedite mine restart * Likely need a capital raise going into CY2023 [Paladin Pros vs Cons](https://preview.redd.it/o57ve1btyiy71.png?width=695&format=png&auto=webp&s=1b791d427e00ae79354bba7c332c62341b3fbe11) [Paladin's Langer Heinrich Mine \(Namibia\)](https://preview.redd.it/pnxrtgwuyiy71.png?width=602&format=png&auto=webp&s=89fec94ceda2c4fbda90a612ddf74bb2bbf781fa) # Bannerman Energy (BMN) **Brief History:** BMN is an exploration and development company focused on Etango Uranium project in Namibia since 2005. One of the few companies around from the previous bull market. Globally significant resource endowment (207.8Mlbs!) - one of the world’s largest undeveloped uranium deposits. * Low technical risk - truck and shovel, heap leaching and de-risked with a pilot plant. * Scalability from Etango-8 to Entango-20 (8Mtp.a. Up to 20Mtp.a. Plant throughput). **Key Activities Last 6-12 Months** * Aug-21 Completed Pre-feasibility study on 8Mtpa (Etango-8) project * Strong economics and development of mine with initial 3.5Mlb pa - with expansion potential * Feb-21 Capital raise of AU$12mill at $0.15/share * Funds for PFS and DFS * Buy-back and extinguish of the 1.5% revenue royalty held by RCF Funds * DFS underway - expected cost of $4mill * BMN added to both URA and HURA ETFs * Value of company has increase several-fold since Sep 2020 ( * Oct-21 Company founder and two MDs sold down some of their positions to institutional funds **Potential Catalysts and Forecast Activities** * Completion of DFS - due Q3 CY2022 [Bannerman Pros vs Cons](https://preview.redd.it/g1bmdr37ziy71.png?width=713&format=png&auto=webp&s=32f4aef35b7003bcb3a1b9a0e6a56782e32bb38c) # Deep Yellow (DYL) **Brief History:** Deep Yellow has the management play behind them with the ex-Paladin CEO, John Borshoff at the helm. A PFS was completed in early 2021 on developing their Tumas Project in Namibia. DYL’s plan is to establish a multi-project, globally diversified uranium portfolio targeting to deliver 5-10Mlb annually. John Borshoff was appointed CEO and MD in Oct 2016. **Key Activities Last 6-12 Months** * Tumas DFS commenced in Feb-21 following PFS proving sufficient for a 20+ year LOM * The PFS only incorporated a portion of the known ore bodies in the study * Resource upgrade drilling and exploration. Over 21,467m drilled over FY21 * Capital raise of A$42mill in July 2021 - to advance feasibility studies and “M&A activities” **Potential Catalysts and Forecast Activities**. * Significant resource upgrade * Merger and acquisition activity expected * Completion of DFS and progress to FID [Deep Yellow Pros vs Cons](https://preview.redd.it/5n5xthngziy71.png?width=687&format=png&auto=webp&s=0a2af74b071ca939fdd93d3608dc0c1aa4a4220f) # Aura Resources (AEE) **Brief History** Aura Energy is an exploration and development company which is now focussed on the Tiris Uranium project, a major greenfields uranium discovery in Mauritania (Africa), with 56Mlb U308 in current resources from 66 million tonnes @ 334 ppm U308. Additionally Aura owns the HÄGGÅN vanadium project with a 15.1 billion lb Vanadium Resource (inferred) in Sweden. Aura also owns the Tasiast South Gold project in Mauritania. **Key Activities Last 6-12 Months** * Shares recommenced trading on the ASX on 23 September 21, with a renewed focus on progressing the Tiris uranium project and a significant re-rating upon listing. * Updated DFS, reconfirming Tiris as a low capital cost development opportunity * Resource upgrade of 10% or 5.0 million lb to the Tiris Uranium deposit in Mauritania * US$10m Offtake Financing Agreement with Curzon in October 2021, funds will be used for working capital and commencement of production. Up to $10m in additional funds may be used by mutual consent. * Two geophysical crews were mobilised from South Africa to carry out gravity surveying on all three of Auras tenements for Tasiast South * $2m raise from issue of options to eligible shareholders, Stage 2 exploration underway at Tiris **Potential Catalysts and Forecast Activities** * Triple Uranium ETF entry in 2022 * Results from Opportunity Review to lower operating costs for project * Net Zero Emission Study, Water Drilling and Vanadium assays expected before the end of 2021 * Gravity Survey results for Tasiast South (Gold) * Further Offtake finance agreements and exposure to higher uranium prices [AEE pros vs Cons](https://preview.redd.it/vq0dkx800jy71.png?width=669&format=png&auto=webp&s=1cabaf7e3956af7e20dc8b3dd3380fd92f6b368a) # Vimy Resources (VMY) **Brief History** Vimy Resources is a developer with two projects, Mulga Rock and Alligator River Project, located in Australia. Mulga rock is a 90Mlbs uranium resource with a completed DFS and approvals now in place. Alligator River Project is a 26Mlbs deposit with further exploration potential. **Key Activities Last 6-12Months** * Included in Global X Uranium ETF (NYSE: URA) * Completed a A$27.5M Equity Raise and Share Purchase Plan * Mulga rock development * Completed metallurgical optimisation test-work for Mulgarock: results look positive * Early works program commenced * Mulga Rock Uranium Project Mining Proposal and Mine Closure approved by DMIRS * Alligator River Project - finalisation of 100% acquisition from RTX * CEO and CFO stepped down **Potential Catalysts and Forecast Activities** * Positive exploration results from Alligator River * Potential acquisition from a rival [Vimy Pros vs Cons](https://preview.redd.it/63guooef0jy71.png?width=648&format=png&auto=webp&s=cbf9da6d90693509f169d60560cdfa7e8c1d0d47) [Vimy Resource drilling at Mulga Rock](https://preview.redd.it/6v5uq3qh0jy71.png?width=602&format=png&auto=webp&s=08956133c8a2f250d9a553325bca8499daf18686) # GTI Resources (GTR) **Brief History** Minerals explorer with significant prospects: * Henry Mountains Uranium & Vanadium, Utah, USA * ISR Uranium Properties, Wyoming, USA * Western Niagara Gold Project, WA, AUS **Key Activities Last 6-12 Months** * Commencement of maiden field exploration program at Utah * Compilation of historic open-file WAMEX records and exploration planning for Western Niagara * Completed acquisition of Wyoming ISR Acquisition **Potential Catalysts and Forecast Activities** * NI Pumps * Results from Jeffreys and Rat Nest Projects exploration targets in Henry Mountains (drilling Q1, 2022) * Results from Wyoming Uranium Exploration (drilling during Dec, 2021) * Potential triple ETF entry [GTR Pros vs Cons](https://preview.redd.it/x5ecnyvt0jy71.png?width=711&format=png&auto=webp&s=95c11ea2cb746e4e7c7882ee237cf153f2ee5f90) # 92 Energy (92E) **Brief History** Recently IPO’d in April, 92E is a uranium exploration company, exploring for high grade uranium in the Athabasca Basin. Athabasca Basin is considered a tier 1 uranium mining and exploration jurisdiction after discoveries that led to Cigar Lake, Mcarthur River, Arrow and Roughrider deposits. 92E started with 14 mineral claims in three project areas which has grown to 30 claims in five project areas in the last 5 months. They recently made a discovery at the Gemini Mineralised Zone (GMZ) with 5.5m at 0.12% U308 incl 1m @ .28% - 4th hole in their maiden drilling program. **Key Activities Last 6-12 Months** * IPO in April and SP has appreciated by \~150% * Completed maiden drilling program and discovered on the 4th hole at the Gemini Project * Pegged an additional 7 claims to expand the Gemini project area * Completed a VTEM survey over the Tower Project (which is only 11km from Cigar lake) and identifying multiple prospective conductors to assist with new drilling targets * $7.15m institutional placement at A$0.72 per share * Appointed Kanan Sarioglu as VP exploration and Steve Blower to the board to strengthen core technical team **Potential Catalysts and Forecast Activities** * Planning for next drill program announced * Additional technical team hire * Drilling 7,000ma at Gemini in the upcoming Canadian winter drilling season (January - March 2022) * Potential triple ETF entry [92E Pros vs Cons](https://preview.redd.it/ms61qdca1jy71.png?width=650&format=png&auto=webp&s=b8858eebc1038763c26903bd16e49d9329e09f3d) # Elevate Uranium (EL8) **Brief History** Elevate Uranium is a uranium explorer that owns significant resources in Namibia and Australia and has active exploration activities in both areas. Elevate is the largest tenement holder for uranium in Namibia and owns the Marenica Uranium project which is a 61 Mlb resource. Elevate value proposition extends to U-upgrade which is a patented uranium benefician process that has been demonstrated and lowers the cost base for uranium assets. **Key Activities Last 6-12 Months** * Completed Airborne electromagnetic survey across Namibia tenements and identified extensive palaeochannel systems for drilling * Stephen Mann (Geologist with Uranium industry experience) appointed as non-executive director * Changed name to Elevate Uranium Limited (**best name in the business**) * Optionholders exercised options providing $2,748,906 cash to the company * Appointed Dr Andy Wilde as Exploration manager - has worked with Paladin Energy Limited and Deep Yellow Limited in Namibia, Canada and Australia * Namib IV Discovery - Intersected uranium mineralisation over a palaeochannel length of 17 kilometers within the main paleochannel * Oobagooma - High-Grade Exploration target identified at Oobagooma (26 to 52 million pounds U3O8 with a grade range of 650 to 950 ppm U3O8 for its 100% owned Oobagooma uranium project.) **Potential Catalysts and Forecast Activities** Namibia * Koppies resource drilling results * Namib drilling results * Exploration activities in Hirabeb Australia * Exploration activities in Oobagooma and study results from other tenements Potential triple ETF entry in H1 2022 https://preview.redd.it/nnn4jv5l1jy71.png?width=653&format=png&auto=webp&s=1cc5e1371e18294060b13722395639f25961b238 # Alligator Energy (AGE) **Brief History** Alligator Energy is a project development and exploration group with uranium projects across South Australia, Northern Territory and a “Ni-Co-Cu-Au-GEs” project in Italy. The Samphire Uranium project in South Australia contains 47Mlb of inferred uranium in two deposits. Alligator Rivers in the Northern Territory contain multiple uranium targets in a well-defined region. Lastly, an EM survey has been conducted across the Big Lake Uranium prospect with drilling planned for H1 2022. **Key Activities Last 6-12 Months** * Ground magnetics and passive seismic surveys at Blackbush (Sampire project) * Samphire Project Drilling and testwork approval obtained * Drilling contractors confirmed to undertake drilling activities in early November for Blackpush (Samphire) * Completion of airborne EM at Big Lake Uranium with results received, interpretation underway * Completion of acquisition of EL adjacent to the plumbush deposit, (samphire project) * Work program approved for geophysics and drilling at Narbarlek North, now planned for early dry 2022 (Alligators rivers) * Share placement completed, raising a net $10.7M * Raised an additional $11m in total to fund environmental base-line study recommencement, expand future planned field leach trial with an IX pilot plant, and increase proportion of core drilling * Geoff Chapman (geologist and BD executive) appointed Samphire Project Manager for the immediate drilling, sampling, extraction testwork, mineral resource estimate update and scoping study **Potential Catalysts and Forecast Activities** * Drilling results from Blackbush (Samphire Project) * IP survey and ground gravity updates from Alligator Rivers Uranium province * Interpretation from Airborne EM at Big Lake Uranium tenement * If interpretation is good, can expect drilling in H1 2022 * Potential triple ETF entry in H1 2022 * Geophysics program results from Piedmont Project, Northern italy https://preview.redd.it/1uossomy1jy71.png?width=661&format=png&auto=webp&s=b2f5b8c69713154a9aeecd519fdfac6395163597 [AGY Uranium Exploration Projects](https://preview.redd.it/c39uohy02jy71.png?width=602&format=png&auto=webp&s=14d560bb286f26fa4e405248e69727e6964d2bd5) # Uranium/Nuclear ETFs - ASX Companies For the u/ASX_Bets crowd here, most of us don’t know what an ETF is, except that we make fun of u/AusFinance for frothing over their 6% returns. But for the uranium market, ETFs are a very important contributor to some of your asx equity gains. An ETF or exchange traded fund works by holding a portfolio of assets (stocks, bonds, physical commodities, funds) that are usually tracked to an index. The portfolio will hold x% of stock AAA and y% of stock BBB and z% of the commodity for a total weighting up to 100% of tracked assets. * ^(When the uranium price increases, investors pile into the nuclear/uranium ETFs. If the ETFs trade above their Net Asset Value (NAV) for a period of time they are obliged to buy up additional individual stocks and assets to curve the NAV to fund value.) * ^(The two major uranium ETFs are URA and URNM and comprise mostly of US/Canadian stocks and funds as well as Kazataprom and Paladin. But as of February-2021 a number of small ASX uranium stocks were included and added to the “buying list”. This is called rebalancing and involves stocks being added (or removed) and changes in % allocations.) * ^(The ETFs account for significant fund flows into the ASX uranium equities as the whole market is still so small. URA “rebalances” twice per year, usually on the last day of January and July, where URNM can rebalance up to four times or quarterly throughout the year.) **Uranium/Nuclear ETFs and the ASX holdings** | **The Global X Uranium ETF** (ARCA: URA) | PDN, BOE, BMN, DYL, PEN, LOT, VMY, GGG | |:-|:-| | **North Shore Global Uranium Mining ETF** (ARCA: URNM) | PDN, BOE, BMN, DYL, LOT, PEN, VMY, TOE | | **Horizons Global Uranium Index ETF** (TSX: HURA) |DYL, PEN, PDN, BMN, TOE, BOE, LOT, VMY | | **VanEck Vectors Uranium + Nuclear Energy ETF** (ARCA: NLR) |PDN| Inclusions in ETFs are mostly based on market cap being over a certain value for a period of time and a few other factors. It can be worth looking into the criteria and who is not yet included in an ETF and when/what opportunities might be coming up ;) \*cough \* January 2022 \* Cough. For more info on [Uranium ETFs](https://www.reddit.com/r/ASX_Bets/comments/l2bbzh/uranium_etfs_and_the_solactive_global_uranium/) see this post and for [past rebalancing see this post here](https://www.reddit.com/r/ASX_Bets/comments/lbfwwj/global_x_uranium_nuclear_etf_nyseura_is_buying_us/). **Punt’s Rocket Rating** ^(Disclaimer: This is NOT financial advice. These are my personal and subjective opinions. Rating is based on a number of factors; some mathematical and financially related, while some are based on opinions of management and projects. These ratings change overtime as company value and progress changes.) The rating is out of 5x 🚀. This is not an anticipated number of “x” returns but a rating of what makes up good further potential value return and strong uranium company fundamentals : good management with commodity and company leadership experience, an attractive and achievable project, solid financials, time-frame and upside potential. [Punt's Rocket Rating - Nov-21 \*MC and Current price are of 9th Nov 21 ](https://preview.redd.it/3gxqu8683jy71.png?width=688&format=png&auto=webp&s=1c32c4b9b9174db636c04f4ee72d0cf6810e8294) May your portfolio radiate green in glowing gains and you be showered in radioactive tendies ☢️🐂📈

ASX_Bets

☢️☢️☢️ As mentioned an **Everything You Can Know on Nuclear Power and Uranium Post** \- worked on in collaboration with /u/Mutated_Cunt and a number of other members from this sub is due out soon. This Second Post won't focus on uranium companies per say but will cover: * Nuclear Physics and Nuclear Power 101 - By Mutated himself * The Uranium Bull Market update * Spot, Sprott and SPUT * China becoming a nuclear powerhouse * Major Global Nuclear/Uranium Headlines * The Uranium Flywheel Effect * The Nuclear/Uranium Bear Case * Other Nuclear Reactor Technologies & Uses * Cusp of Small Modular Reactor (SMRs) mass take-up * Nuclear Waste and Recycling * The Cost of Nuclear * Summary of Nuclear Power & Uranium Bull Market And more I will provide a google docs version of the above post for easier download and reading. p.s. Reddit formatting is a fucking monster to deal with. Hopefully you find the post worth it

u9vsez

Is trading easy like this??!!

There is a millionaire in my country (Morocco) who works in real estate. He started trading a month ago... He has a friend who gave him a trading strategy (they trade on Nasdaq) they didn't tell us exactly what the strategy is, but they say that you should just know the point at which the price will not return again in the 1H chart and then they execute the long or short entry depends if it's bullish or bearish... (following the trend) and they share the results on instagram 5k$ to 50k$ profite a day (they use 3 contract up to 50 in trades)... and i don't understad what the heck is this, is trading are easy like this!!! or they just gambling... this man start trading just a month ago and now he share results like this!! then why people struggle in trading and spend years learning strategies/risk&money managment me as a newbie in trading (8 month) I did not find any answer to this Am I a loser? Are all those who spend years learn about trading for a littel resulte are losers? and this person knows a secret that we do not know. Is it even possible for them to trade in this way? (knowing where the price will not return) i know that this are silly for all of you guys but I'm sorry this subject hurting me and accupy my mind alots especially when I look at the chart and i see huge moves in the 1H chart drawing evrey day so what will prevent them from not profiting in the midst of that price movment? I hope someone can explain to me the logic behind this .

Trading

As someone who has been trading now for over six years, I have learnt a few things over my time and can offer some great advise that I'm sure everyone else will agree on. So with that being said, here it is! (If you learn something from this UPVOTE so others can read and learn from it!) Risk Management - Before you even thing about placing a trade using real funds ensure you are implementing good Risk Management, now what do I mean by that? Well set a risk % and stick to it throughout, personally I risk no more than 2% of my entire equity per trade. This means it would take 50 consecutive losses to blow my account. If you don't know how to calculate the correct Lot Size for a 2% risk I can share my formula. Risk to Reward Ratios (RR) - This also falls under Risk Management, but when you look at placing a position, ensure that you have a good RR ratio. Again I personally make sure I have at least a 1:2 RR meaning im looking to make back at least double my initial risk on the trade, with me risking 2% being 1 in the RR ratio im looking to make back at least 4% being 2 in the ratio. You don't ever want to risking more than your potential return that just doesn't make sense. So when you look to place a position ensure that your TP can always be at least double your SL obviously making sure that your TP is achievable and your SL is placed accordingly. Psychology - This is probably the most difficult thing to master and can only be mastered in time. my advise is ensure that you have as much confluence/confirmation with your trade setup as possible, alleviate all doubt in your analysis and position. Once you have set your parameters with your trade, there will be places within the market that if price surpasses it would invalid your analysis and therefore you would look to exit the market or have SL's set there. Once you place a position, leave it don't STARE. Set your alerts and wait for them to ping, the worst thing you can do if your not mentally strong is stare at a running position. Back Testing & Trialing your Strat - Before you go straight to real funds, ensure you have taken the time to practice, make sure your strategy works and make sure you stick to it. I personally have a checklist of things I need to see in order for me to place a position, without every step being ticked I won't place it, you should do the same! You don't ride a bike on two wheel before you've learnt how to, you use stabilisers the same applies to trading, practice first before your confident in your ability. Now with all that being said if you follow just some of that advice you'll notice a drastic change in your trading experience and for the better! Ensuring you implement risk management is one of the biggest, you don't want to over leverage or over expose yourself on positions. More than anything though, have fun enjoy the process and don't trade with money you can't afford to lose! If you learnt something from this UPVOTE so others can read and learn from it!

pxgs15

The entire Federal Reserve just got caught insider trading and nobody cares

It was a headline for like 1 day and then the MSM stopped covering it. This is such a huge deal and most Americans don't even know/care about it. Federal reserve members got caught insider trading and using the Fed to pump their own stocks/options they own, at the cost of the US's long term economic health. They have now printed 25% of total USD in circulation in the last year, inflation is increasing and only gonna get worse soon. Are we just so used to corruption now that nobody cares anymore? Or is Reddit gonna pretend like huge corruption isn't happening just cause the Dems are currently in control? Our entire government is a sham and just a bunch of corrupt rich assholes using their power to get more money.

Superstonk

This is why I like superstonk. I think most users know it's not a Democrats vs Republicans issue. The truth is both parties are corrupt in the same way and to maintain the status quo they have to keep us divided. So each party will tell their followers to look at the evil things the other one does. I won't get into my personal politics and I appreciate how much the DD here highlights all the guilty moves by all of the politicians. If we can band together over something like this that can & will be how we actually make positive change happen!

mntcz3

Elon Musk Is Not One Of Us. Stop Using Him As a Role Model.

I’m tired of seeing him as a face of crypto in news. He is not one of us. He isn’t your average Joe. He is multi billionaire, one of the richest guys in the world. He doesn’t care about you, about me, about mine or your family. All he cares it’s his ego and his companies. Lately, we’ve seen a lot of hate towards Mark Zuckerberg from Facebook. Is sweet Elon Musk different? Maybe he isn’t lizardy as Marky is, because he is skrull from Mars. Is Elon any different compared to Mark? Both of them are shilling their own companies, Tesla isn’t different. Just because he offers you to buy Tesla with BTC, it doesn’t mean that he is on your side. He isn’t helping you, he is helping himself. While you’re laughing at him shilling DOGE, he is laughing at you how is he manipulating you. He is not helping crypto, he is hurting it. He isn’t same as you or me, he doesn’t have to save money for food, he doesn’t have the count if he has enough for dinner. He isn’t on your side, every one of the billionaires are trying to manipulate as much people as they can, to make them believe in theirs own visions and dreams. Just because he pumped your coin, it doesn’t mean that he is your lovely neighbour. Elon shouldn’t be used as a model for crypto. Just because he was on Joe Rogan podcast, it isn’t making him a proper role model. Stop giving him any reputation when it comes to crypto, this guy just shilled a shitcoin and thousands of people falls for it.

CryptoCurrency

Nobody here gives a fuck about you or your family. Most everybody in the crypto space is only here to make money. In that way Elon Musk is very similar to everyone else here. The only reason you say any of this is because Elon Musk is a celebrity. You hold him to a higher standard because he is a public figure. You wouldn't expect u/glasswallet to exercise the same level of activism as you do from Elon Musk. Even though there's plenty more I could do to for the crypto movement. Its ironic because he's probably done more for crypto than any one individual. (Other than Satoshi or Vitalik) I honestly don't think theres anything he could do to ever satisfy you. the fact is he doesn't owe you anything. Just because he has more reach than the average Joe doesn't mean he is obligated to dedicate his entire life to crypto. He's living his life as he personally sees fit just as everyone else here is. It should be enough for you that one of the most famous people in the world is discussing his interest in crypto and making moves. This post just comes off as salty. He's in the news because he's interesting, opinionated, and is a celebrity talking about crypto. Not because he's some crypto idol who's word is gospel.

l6utb0

Crazy thought..WSB might have just made Value investing cool again.

Sounds crazy but WSB just made value investing cool again. I know right now its all hype and momo investing but the guy that started it all was a value investor named deepf&ingvalue. He bought gamestop as a value play, they are celebrating michael burry for his value play. I know this is value play plus huge luck that market shenanigans amplified your play, but still it started as a value play. I think when its all over people will start looking for the next gamestock buy digging through undervalued out of favor stocks. plus when everyone loses money they always come to Buffett.

ValueInvesting

I was watching the HBO doc on Buffett last night. And as I'm watching it I'm realizing that Warren Buffett is WSB especially when he was younger. He originally took over Berkshire Hathaway to spite the board of directors because they undersold him on a price. He was a fucking cowboy, not this old nice safe man we think of now. It's the exact same realization that you had just coming from the other direction.

n7ns5n

/r/thetagang has doubled in size in the last 2 months, if you're new do yourself a favor and read a bit

Seems like a lot of people have flocked over here from WSB. Thetagang went from being a strategy for building *small* and *consistent* gains, to just being another way of trading options on meme stocks. If you're new and don't understand the basics of how selling options works, you're setting yourself up to lose just as much money as you did when you were buying options. Maybe even more—at least when you buy an option your losses are capped at 100%. I used to read this sub every day because it was a great way to learn more about trading mechanics, greeks, and finding good trade recommendations. Now the top posts are usually people panicking about how their underlying is tanking because they thought selling an option on a WSB stock is the inverse of buying it (spoiler: it's not). If the MODS don't do their jobs to regulate this sub, it's never going to recover. Top posts are often loss porn and stock recommendations based solely on premium. Most upvoted comments are frequently promoting advice that is flat out *wrong* on a basic level. No one reading wikis or learning the basics before they start confidently handing out advice. This is just a short and poorly written rant, so I'll leave it at that.

thetagang

I have been investing/selling options for a while but only joined this sub about 6 months ago. In that short amount of time this place has gone to shit. There were a lot of knowledgeable discussions and I always felt I gained something when I left - a new idea, a different perspective or even something I didn't know (which is still a LOT). It wouldn't be as bad if people were really trying to learn (we all had to learn at some point) but it is turning into a cesspool. Everyone wants to be spoon-fed - what happened to putting in the time, effort and energy to learn and then come in with poignant questions, etc.? Oh, and get off my lawn...

kmca8w

Is OnlyFans Marxist?

From [Wikipedia](https://en.wikipedia.org/wiki/Proletariat): > According to Marxism, capitalism is based on the exploitation of the proletariat by the bourgeoisie: the workers, who own no means of production, must use the property of others to produce goods and services and to earn their living. Workers cannot rent the means of production (e.g. a factory or department store) to produce on their own account; rather, capitalists hire workers, and the goods or services produced become the property of the capitalist, who sells them at market. OnlyFans allow the proletariat (i.e. content creators) to "rent" the means or production (i.e. the OnlyFans website and platform) in order to produce and sell their "goods" (i.e. content) at "market". The content creators are not paid salary and ownership of the intellectual properties remained with them. I would have thought that paying monthly subscription to watch Belle Delphine half naked is a symptom of peak capitalism but apparently not?

AskEconomics

While “is X Marxism” usually earns a response of “there is no one definition of Marxism,” I feel fairly confident saying that entrepreneurship through a private non-governmental platform is not Marxism. Also, *renting* the means of production is very different from *owning* them. Eg OnlyFans can kick you off the platform at their whim.

lrq9af

Is it true that "if the minimum wage had risen in step with productivity growth since 1968, it would be over $24 an hour today."

Is it true that, "if the minimum wage had risen in step with productivity growth since 1968, it would be over $24 an hour today." The Federal Minimum Wage is supposed to be $24 an hour? [https://twitter.com/march4progress/status/1361693187849527297](https://twitter.com/march4progress/status/1361693187849527297) [https://www.politifact.com/factchecks/2021/feb/18/joe-biden/joe-bidens-town-hall-mistake-about-inflation-index/](https://www.politifact.com/factchecks/2021/feb/18/joe-biden/joe-bidens-town-hall-mistake-about-inflation-index/)

AskEconomics

A key (and misleading) assumption in that assertion is its implicit assumption that minimum wage ought track along with productivity; if that's the only basis, it would be about $24 or so I guess. In years past this was previously regarded as being appropriate by some economic thinkers like Marx, but is not widely believed by modern economists today. An alternate method of calculation might be to take the [federal minimum wage for 1968](https://www.dol.gov/agencies/whd/minimum-wage/history/chart) ($1.60) and adjust purely for inflation using something like the [Bureau of Labor Statistics' Consumer Price Index Inflation Calculator](https://www.bls.gov/data/inflation_calculator.htm), which would indicate that it should be about $12.27. In this sense, the Politifact checker cited is pretty much on track. This gets problematic though, since it doesn't take into account whether $12.27 would really be sufficient to provide a comparable relative standard of living in the current era, when things like housing, cars, and healthcare are much more expensive if for no other reason than they're much safer and more advanced now. Something like broadband internet access would have been a fantastically unimaginable luxury in 1968, but now is often considered essential or nearly so. In this sense, just pegging wages to any one metric might not be answering the wider social questions well enough. Another popular method of selecting minimum wage target is 150% of the [federal poverty level](https://aspe.hhs.gov/poverty-guidelines) for a family of 4; the idea being that any person working full-time ought to be able to provide such a standard of living to her/his family at a minimum. In 2021 for the lower 48 this would amount to $39,750/yr, or about $19.40/hr assuming 51 weeks/yr and 40 hrs/week. And while this method might seem intuitive, it is not without criticisms, if for no other reason than this 150% target is arbitrarily selected and based on a multiple of a figure that is almost as arbitrarily selected. REN has a pretty nice [FAQ about minimum wage](https://www.reddit.com/r/Economics/wiki/faq_minwage) that you might look over too. Edit 1: wrong year for comparison, sorry for confusion Edit 2: added 150% poverty target, some other cleanup

j9wcwj

My SURGEON Is On WSB, And Basically Just Called Me A Retard

So, I come in today for a consultation about getting a tumor in my leg removed. We're talking about the risks, etc., and it gets quiet as he's tying whatever doctor stuff up. Naturally, I am thinking about the market. I say, "... you got any stocks?" He laughs, looks me in the eye and says, "Virgin Galactic." At this point I laugh out loud because **why is the guy in charge of my livelihood in $SPCE.** I go, "space? LOL" He (again, SURGEON) says **"You ever hear of Wall Street Bets?"** I am immediately bewildered and slightly arroused. I say of course, he asks me if I was here in MARCH, and then starts talking about the "guy who was in GME before it was cool." He then asks me if I have any money in the market. I tell him I have 88 grand in TSLA right now, he *bursts* out laughing and says... ##**"Yeah, you're definitely a member"** TLDR; A man with a PhD called me a retard, professionally, because of WSB Best doctor visit ever EDIT: I can't believe this made front page. I'm gonna show him this before the surgery lol EDIT2: [TSLA positions](https://i.imgur.com/uAHdr9y.jpg)

wallstreetbets

>a man with a PhD >surgeon i swear to god this is peak wsb EDIT: thank you to the geniuses pointing out there are such things as MD/PHDs. no shit. but, if you paid even a second of attention to the context, you'd know that he CLEARLY thought (and admitted as much in the comments) that you needed a PhD to be a surgeon.

l92fz7

Jim Cramer Gave an Interview in 2006 on how the Hedge Funds Manipulate the Markets

[https://www.reuters.com/article/cramer-interview-idUKN2036292620070320](https://www.reuters.com/article/cramer-interview-idUKN2036292620070320) [Direct link to Interview Video since the old in-article links aren't working](https://www.youtube.com/watch?v=CpMEFtPZJLc) "What's important when you're in that hedge fund mode, is to not do anything remotely truthful. Because the truth is so against your view, that it's important to create a new view, to create a fiction." "Then you call the (Wall Street) Journal and get the bozo reporter in Research in Motion and you would feed that (rival) Palm's got a killer it's going to give away. These are all the things you must do on a day like today, and if you're not doing it, maybe you shouldn't be in the game." “It might cost me $15 million or $20 million to knock RIM down but it would be fabulous because it would beleaguer all the moron longs who are also keying on Research in Motion." "A lot of times when I was short at my hedge fund ... meaning I needed (a stock) down, I would create a level of activity beforehand that could drive the futures. It’s a fun game and it’s a lucrative game." "Who cares about the fundamentals? The great thing about the market is that it has nothing to do with the actual stocks." \- Jim Cramer, hedge fund manager from 1987-2001, Dec 2006 [Dealbook NY Times Article on Cramer's Interview](https://dealbook.nytimes.com/2007/03/20/cramer-market-manipulator/) [Investopedia Article: Short and Distort Bear Market Stock Manipulation](https://www.investopedia.com/articles/analyst/030102.asp#:~:text=Short%20and%20distort%20(S%26D)) [Anatomy of a Short Attack](https://seekingalpha-com.cdn.ampproject.org/v/s/seekingalpha.com/amp/instablog/11442671-gerald-klein/3096735-anatomy-of-a-short-attack?amp_js_v=a6&amp_gsa=1&usqp=mq331AQHKAFQArABIA%3D%3D#aoh=16119453107704&referrer=https%3A%2F%2Fwww.google.com&amp_tf=From%20%251%24s&ampshare=https%3A%2F%2Fseekingalpha.com%2Finstablog%2F11442671-gerald-klein%2F3096735-anatomy-of-a-short-attack)

investing

If you're curious to understand what this looks like in real time, take a look at the GME this Thursday 1/28/2021 when it went artificially from \~$390/share to a low of around \~$125 in \~50 minutes despite a ridiculously low volume of shares being traded. It's a play called a "short ladder" (I'm new to all of this but hell if I'm not learning a ton these last few weeks!)I'm still baffled at how disgusting these moves are... and I'd wager it's far from over. Edit to add what short ladder attack is: Say price of XYZ stock is $400/share. Hedge A sells shares of XYZ stock to Hedge B for $390. Hedge B sells shares of XYZ stock back to Hedge A for $380. They ping pong back and forth on an extremely rapid pace, making it appear that the new price per share is far lower than the market value previously was. This spooks the hell out of people who are worried about losing their entire investment and they sell (probably at a loss), Hedges scoop up shares they've shaken out and the price rises back to it's regular level when they're done.

y1spvy

What’s the point of “rigorous” math in Economics?

Upper year Econ major here. I’ve been massively disappointed by most my courses at Uni. They’ve all been so math heavy, not that I hate math (quite the contrary), but it’s always followed by the caveat from the professor that we don’t actually know what any of these values are in real life. So what’s the point of us doing 2 hours of homework solving it then??? I understanding the utility of mathematical models in validating assumptions and discovering blind spots in our thinking, etc. but why does this mean my learning has to consist of hours of doing calculus with made up values. I fail to see the value. Are these just badly taught courses or is this just what Economics is like? Apart from making the subject matter incredibly boring, I also fail to see the merit of it. I apologize if this comes off as ignorant, I just feel like I’m losing my mind doing this mind numbing work on a subject I was once deeply interested in.

AskEconomics

It's really easy to claim in blocks of text that certain things cause certain economic phenomena and obfuscate it with the English language to hide any logical fallacies/inconsistencies. However, it is really difficult to do this with mathematics, so when writing a proof of something, it's really easy to pick up where a person's model is actually false. But yes, the more you pursue economics, things like Data Analysis and all, I won't say you would need all of it, and it's certainly a futile exercise to persist with multi-variate calculus and all, but one of those things that are 'just there'. It's a lot better once you're out of college. I survived my time. :p You can too. And it's just as investing when you see it later. Good luck.

i6askd

A complete newbie’s step by step guide on the property buying process

I just wrote this on another thread as a comment. But I think it’ll go wasted as a comment so I’d like to share this here for complete newbies to reference. Please note, this might differ from state to state. I’m speaking from experience in VIC in the year of 2020. It can be more simple or more complicated as not all sales are the same. But here’s a general idea: 1. You contact a bank or a mortgage broker to help you get a pre-approval. The bank will assess your financial situation. That’ll give you an estimate of how much you can afford to purchase. Try to get all your finance assessed as much as you can during pre-approval. The pre-approval will take into account your situation, including any government grants/deposit/gifts (my situation), then based on your income and job history, credit rating, and other lending criteria, the bank will provide you with a number they’re comfortable lending you. Using this number (the loan amount + deposit + give it some room for additional fees - conveyancing, building inspection, any stamp duty or title transfer if the bank is not paying those, etc. I had a room of about $10k just to be sure, but this is specific to my situation) you should know what your maximum budget is to put in an offer. In courtesy of u/septembers57: Pre-approval is the amount up to which the bank will lend to you, but it is also dependant on what the bank evaluates the property you intend to buy is worth. For example, you can have preapproval of up to 600k, but the bank evaluates the property to be worth 580k. Therefore, they will only lend you 580k. 2. Once you got a pre-approval, you can start looking at properties, inspect, negotiate, review contract of sale. When you’re inspecting the property, make sure you check everything. I mean everything. Turn on every single button/tap/machine you can find. Check for scratch/cracks on the walls. Is the exhaust fan working? What about all the lights - inside and outside? Are the doors working? Can they be closed tightly? Oven, dishwasher, range hood, are they still working? Is there any damage? What about cupboards? Are they intact? Any sign of pest? If possible, pay $400 for a building inspector to thoroughly inspect the property for you. This is expensive, but is much less expensive than having to fix all the defects yourself down the track. I also strongly recommend to have a conveyancer to review the contract. They will point out clauses that are strange/not standard, tell you what they mean, and you can ask for recommendations. If you want to negotiate anything here, this is also the step. Your conveyancer will help you put those conditions in the contract of sales. I recommend to put the subject to finance clause and subject to pest and building inspection clause. Subject to finance is to protect you - in case you can’t get an official approval from the bank for any reason, this clause will help you walk away risk free without any penalty. Same thing for subject to pest and building inspection. If the house is not of good condition and the building inspection presents that, you can walk away risk free. Please note, these will be your negotiation strategy, because if two offers come in with the same price, it’s very likely the vendor will agree to the one WITHOUT these clauses because that means the vendor is protected. If you work with a mortgage broker and they’re sure they can get you a final approval within x days, you can also put a subject to finance within x days (as a precautionary measure) to make your offer more attractive. After x days you’re fully bound to the contract and if you walk away you’ll get hit with penalty and lose the deposit. Also, you can negotiate settlement term here (30 days, 45 days, 60 days, 90 days). The shorter the settlement term, the more attractive your offer is because that means both you and the vendor will finalise the sales more quicker. But also comes with a risk - if for any reason you can’t get all your finance and paperwork done during this time and you miss settlement date, you can be charged. Also you can ask to have the withholding clause to be added here (i’ll explain further below). Please make sure everything you need to negotiate is reviewed and put into the draft contract during this step, especially if you’re buying off auction. Because in auction, there’s no cooling off period and the purchase is unconditional. If you win at auction and change your mind or walk away, you’ll lose the deposit. If you buy into an apartment or a townhouse that is a part of a body corporate, don’t forget to walk around the block or the building to check for damages on the block/building during your inspection. Make sure to check if there’s any flameable cladding as well. Also, check strata reports. The contract normally includes the body corp’s Annual General Meeting minutes (AGMs), and will tell you the BAUs of the building, any item the owner corp has agreed to pay annually (e.g. windows cleaning, caretaking, etc.) how much money is allocated to admin fund and how much money is allocated to sinking fund. How much money was raised throughout the year as a special levy to fix up a damage. From there, you just gotta make your own judgement. If the AGMs and the finance looks healthy, e.g. no major spending on major damage, then the building is fine to live in. If there’s damage, clarify with the body corp manager (they’ll have a number to call on the AGM). Reach out to them and ask what it is, how it happened, is it the apartment owner’s duty to fix it, or is it the owner corp’s duty to fix it through sinking fund or a special levy has to be raised. If so, how much was quoted. When will the work be carried out. Then justify for yourself, whether it’s worth living in and paying for all these damage, or walk away. Side story: I once inspected a ground floor apartment that has a big crack on the wall. And it’s a step crack so it identifies structural damage. When walking around the building to inspect, there are cracks in other apartments as well. The building inspection came back saying that it was because the garden bed sits right next to the walls. Long term watering caused the soil below to move, and caused the cracks to occur. To rectify, structural engineers need to inspect and provide recommendation. The garden bed needs to be removed or stablising measures need to be added. Then the building foundation needs to be strengthen, and then we can think of fixing cracks for cosmetics. In the AGMs report in the past 3 years, nobody has mentioned anything about it. So I went further and use the login credentials in the AGMs report to log into the body corp’s portal and read reports in the past 10 years. Nobody has mentioned anything about fixing the cracks. I pulled out because in my personal opinion there’s no way in 20 years time I wouldn’t be whipping out big $$$ to fix that building. And the cracks are so obvious, so if nobody has ever mentioned it, this means the people living in that building seem to not care. Who knows after putting all your life saving down, it’s not suitable to live in and we’ll be forced to vacate and lose a home. Even if I move in, I still need to raise the concern with the owner’s corp, get their agreement to carry out the work, and then money will be raise to fix it. And that doesn’t mean everyone will agree to fix it because some of the apartments are not cracking so they won’t be willing to get the money out. Too much hassle for me so I walked away. The apartment ended up selling 25k more than I could afford though. Guess we’re not meant for each other. 😕 In courtesy of u/septembers57: Be VERY CAREFUL of the wording about being subject to a building inspection. You need to be specific that it is subject to the building inspection being satisfactory to your liking, otherwise the clause is meaningless if there is no significant structural issues to be addressed. A building inspection is worth it’s weight in gold, or alternatively get a builder, plumber, and electrician friend to look at the house for $$$. Also, find a conveyancer before you find a property. They’ll talk you through the wording of how to make sure you aren’t taken advantage of by the real estate agents. 3. If you have to go through auction, and have had your special conditions reviewed and amended by the conveyancer, send the contract of sales back to the vendor. If the vendor is happy with your conditions, they’ll proceed with your contract of sales if you win at auction. Normally what you can negotiate in an auction contract is just settlement term or deposit % or strike out some weird conditions that are not on the standard contract. Be aware that if you win at auction, you’ll have to sign the contract straight away and the contract is unconditional, so subject to finance clause won’t apply for auction contract. You just have to hope your finance game is strong and the bank will lend you the money enough to pay for the price won at auction. That’s why it’s important to know when to say no at auction. Otherwise, if it’s a private sales and both you and the vendor are happy with the contract, you will then sign and exchange contract. This is when the contract is executed. The contract of sales will also tell you on what date settlement will happen. The REA will send you details of their trust account, and the amount you need to pay. Normally 10% of the purchase price, and you’ll have to make this transfer. If there’s a limit on your transfer, ring your bank. They’ll temporarily increase your transfer limit for 24 hours. 4. After you’ve got the executed contract of sales, bring that to the bank/mortgage broker to apply for the final approval. Provided the bank hasn’t tightened their credit policy, the closer your finance situation now to what it was when you got the pre-approval, the higher the chance you can secure the approval. Also, if you have a subject to pest and building inspection clause in the contract and haven’t organised a building inspector yet, organise a building inspector at this stage. If the building report comes back not satisfactory, this is where you can pull out. Again, this is not applicable for auction. So, get the pest and building inspection done and justify whether you still want the place or not before decide to fo to auction. To book a pest and building inspection, provide the building inspector with the REA’s details and the property address. They’ll organise an inspection and come back and write up a report for you. 5. At this stage, you’ll do a lot of paperwork. The bank will ask for your IDs, payslips, bank statements, and send you a loan document to read and sign. Make sure to read and understand all. The loan document will also tell you how much they’ll pay on settlement. Please note, at this stage the bank also evaluates the value of the house. If they think the purchase price is ok, they’ll lend you the loan amount. If they think the house worths less, they’ll only lend you whatever they feel comfortable with. You will then need to organise the shortfall on settlement yourself, or find another lender that’s willing to lend you more. This happens more frequently during off the plan purchase. If the bank rejects, and you can’t find any other bank that is willing to lend you, the subject to finance clause will protect you at this point so you can walk away. 6. Once you’ve signed everything, then they’ll grant you a final approval. Now there’s not much you can do except for waiting for settlement to happen. 7. During this period, your conveyancer will help you prepare documents to transfer the land title to your name and help you calculate the final amounts to be paid on settlement (the settlement shortfall). This settlement shortfall includes outstanding body corps on a pro-rata basis (if applicable), any fees and charges proportionately, council rates, water rates, land and title transfer fees, any government grants and stamp duty concessions and the remaining of the deposit. If there’s a request from the vendor for early release of deposit from the REA trust account, your conveyancer will get you to sign form to release it. You’ll have to release it at the end anyway, so if you don’t see any need to withhold it in the REA’s trust account, you can release it early as a nice gesture. 8. A few days before settlement - depending on where you are, you’re entitled for pre-settlement inspection to ensure the property is of the same condition as when you signed the contract. Contact the REA and arrange that. 9. If you discover any defect, immediately notify your conveyancer, so they can get in touch with the vendor to rectify. Perhaps when the REA moved the staging furniture out, they left scratches and holes on the wall. If the defect is huge, this might delay the settlement. If the defect is small, then ask for a compensation (as an adjustment on settlement) or withhold the money on settlement. I know in Victoria you’re entitled to withhold up to 5k on settlement to fix for damages (of course if the withholding clause is on the contract - on a standard contract, it’s always there, but some vendors will choose to remove it to protect them). At this stage, the contract is unconditional. You can’t walk away anymore. So make sure you sort everything out before settlement. 10. 1 day before settlement, the conveyancer will send you a final calculation on how much you need to pay on settlement. If the bank pays all of this amount and you don’t need to pay anything that’s fine. If you need to pay this amount to the bank, your loan document should already tell you how, normally they’ll have a section to direct debit that amount from your account. Otherwise, this settlement shortfall has to be paid to the conveyancer’s trust account. If this is the case, make sure you ask your current bank to do a RTGS transfer (Real Time Gross Settlement). This means they’ll transfer a large lump sum of money to the receiving account on the same day. Otherwise, if the money takes a few days to clear, settlement can be delayed and you can get charged. 11. On settlement date, if you do online settlement, you don’t need to do anything. The people from your bank with meet up with the vendor’s bank to finalise paperwork and exchange money. 12. Once settlement has gone through, the bank will notify the conveyancer, the conveyancer will notify you. The vendor’s bank will notify the vendor. You can then meet the vendor or the REA to pick up the key. Good luck. Note: never assume your purchase will be risk-free. Always be proactive and reach out to the relevant parties to check on progress and what you need to do next and make sure you’re on top of it. Someone misspelling your name at some stage or changing your gender on the Land Title Transfer (happened to me) can lead to a disaster down the track. That means settlement can be delayed, and you’ll end up paying big $$$ on fees and charges. Or if property is wrecked one day before settlement... I’m sure reddit doesn’t lack of settlement horror stories. I once read post somewhere saying that someone’s future home was broken into by a group of bogans and the property was turned into an orgy fuck fest and was filled with piss, cum, needles and blood... Edit: here it is https://www.reddit.com/r/auslaw/comments/em2lza/settlement_crashing_horror_stories/fdlwwdd/?utm_source=share&utm_medium=ios_app&utm_name=iossmf EDIT: Some words. Please pardon if I made any spelling mistake. English is not my first language. EDIT: updated step 2 and 3 so they’re more relevant in an auction scenario. Also updated step 7 on early release of deposit. Step 9 on pre-settlement inspection. Step 2 on pre-purchase inspection. Step 4 on building inspection. Step 1 on what pre-approval might look like. Step 2 on strata meeting minutes and step 3 on auction contract EDIT: Thank you kind user for gifting me my first gold ever 🙏🎊🥰

AusFinance

Such a helpful post. I'm currently about to go through the process (waiting for a contract of sale from the vendors) and despite all my research it's hard to get your head wrapped around everything, but you've broken it down very well. Congrats on your settlement. I'm hoping I can make it through with no issues 🤞🏻

m4nvtt

Is poverty largely due to corruption and authoritarianism?

China could hardly be called a developing country, the 2nd highest in GDP, but is pretty [poor](https://ourworldindata.org/grapher/distribution-of-population-poverty-thresholds?stackMode=relative). Same with India even [after economic liberalization](https://ourworldindata.org/grapher/distribution-of-population-poverty-thresholds?stackMode=relative&country=~IND). Switzerland has a lower GDP than both of these countries [yet poverty is pretty much close to non-existent] (https://ourworldindata.org/grapher/distribution-of-population-poverty-thresholds?stackMode=relative&country=~CHE). I'm starting to see a pattern where countries that should be rich have an impoverished population and are pretty [corrupt](https://en.wikipedia.org/wiki/Corruption_Perceptions_Index#Rankings) and [authoritarian](https://freedomhouse.org/countries/freedom-world/scores?sort=desc&order=Total%20Score%20and%20Status). While the less richer countries, while less rich, have a less impoverished population.

AskEconomics

n6c22k

This year has taken a down turn for me.

Beginning of the year had 47k in my dividend portfolio and saved thousands in my bank. Well life happened and I had major expenses to cover on my house which in total cost me about 9k and had CC debt. Had to withdraw from my portfolio to cover it, but now I got no more debts (hopefully) and even though I had to take a large chunk from my portfolio it's down to like 38k I have free now an extra 800 a month to contribute. Just made me sick to my stomach having to sell some stock and watch my dividends go down.😫 The silver lining is I guess no debt.

dividends

I feel youre looking at this backwards. You were able to effortlessly handle those unexpected expenses BECAUSE you had invested wisely. How much more of a down turn would this year have been if you had not adequately saved? This is why we invest. To grow our savings to handle future expenses. Money is supposed to be spent, the reason we invest it is so we can better spend it later on; but if needs to be spent today, by all means cash out what you need. Youre post actually makes me feel more confident about my investments, so thank you for sharing.

lf8fl3

I’m really sick of all the “suggest a broker” post.

I feel like half the posts on the sub are people asking for broker advice. Obviously without doing any research since the options in EU are limited and speak for themselves. Can we either remove these low effort posts or refer to a Q&A section? Edit: well this blew up. I agree that there should be a place to ask questions but i would also like to incentivise new traders to do their own research. An overview on this subreddit with basic info that allows users to make a decision seems like the way to go. Mods?

eupersonalfinance

There should be a sidebar post with this information. There can be a poll so that there's a good sample size of people from X country and the brokers they use vs Y county and the ones that work better for them.

7vfexy

I've made 500k in profits. I'm fine. HODL is a community problem. If you can't think for yourself, you deserve to lose. I expect downvotes, but is there no one that thinks this is insane? Don't let the Internet tell you how to manage your risks/assets.

Posted this on a FB group last Friday. I'm going to offer an opinion that differs from the HODL. That's not to say I'm not going to buy back in, but it's hard to take away from Reddit's bubbled crypto subreddits, whereas "everyone" has the same hive mind mentality. Here's one that's not. Anyways. I sold out. =\, Today's movement (+) I don't think is sustainable. I think everything is at systemic risk right now. Unlike before, this is a global sell off, and not just a concentrated one (coupled with next weeks stock action). People understand Mt Gox happened. There is billions tied to this market, so that is also going to put a stop on buys for awhile. The hype is dying down. People aren't getting crazy moon gains, so less people are wanting in, collectively. People are getting burned by the crazy price swings - so all the grandmas, aunts and uncles who got in Dec, sorry for your loss. There was a ton of ignorance from people that came in from Dec as well. Further, there is a systemic risk, and it starts and stops with the exchanges. I know I keep touting this horn, but I think Bitfinex sort of fucked this entire market with monopoly money. I don't see the market immediately recovering. A modest bump, but then back down again. At best I see Eth getting to and staying sideways $1300 for a month. At worst, $450-500. It really depends on how people treat this market, and what the hell the SEC is going to do with Tether. This is going to be a long played out process. I could be wrong, so I will stay humble. Psychology has alot to do with it, and with each passing day - people find out more and more about this market. Edit - I was forntunate to begin making the vast majority of my sales Dec31-Jan14, before everything went kaboom. I still have about 30 in the market. In VEN. Just incase anyone is wondering. **I don't want to see people burned, just because they took Internet advice from a collective group of strangers.** Edit 2 - **I've seen this hive mind mentality before with Wall Street Bets, /WSB/ and AMD stock. Moon moon moon. No, it didn't go to the moon.** It crashed, and its just gone sideways ever since everyone jumped on it via Reddit - and said 'hodl'. From $15.50 to $9.00. In that time, Intel (and nVidia*) has outperformed AMD's stock. Lisa Su memes, everywhere. That is this, all over again. Edit 3 - **Even the top post in this subreddit, is Leonardo DiCaprio saying he aint going the fuck anywhere. XD. Its the top post. Do you know from that meme, how many people are actually going to subconsciously follow that advice? It's sad.** If Facebook interferred in our election, Reddit is a transference of that same viral-attitude to get quick rich scheme. Edit 4 - While we like to stick to Crypto, just be aware of what's happening in the broader markets as well. https://www.marketwatch.com/story/buckle-up-this-ultimate-bear-chart-signals-a-pivotal-moment-for-investors-2018-02-05 I did find this quote to be cynical, funny (unforntunately relevent) at the same time. “Bull markets don’t die from old age,” says Guggenheim Partners CIO Scott Minerd. “They typically get shot in the head.”

CryptoMarkets

If you believe in crypto in general and over the long term, it basically boils down to 2 options. 1. Do you believe you can time the market? Then go ahead and sell the highs and buy the lows/crashes. 2. Do you believe you can't time the market? Invest what you can afford to lose and hold it. Preferably dollar cost average as much as possible. I've been in crypto for over a year and I understand the basics about many of the projects and I get why some of the projects will be used in the future. On the other hand I have no fucking clue why the market does what it does on a weekly or monthly basis. Most of the time it seems completely irrational and unpredictable to me, so I've chosen a strategy of "time in the market" instead of "timing the market". I have no plans of selling any of my holdings within at least a couple of years unless some of the fundamentals change about the coins I hold.

j0r1t8

Apparently McDonalds pays 2-3x in Denmark what they do in the US, but prices are only slightly higher. How does the math work for it to still be worth running a franchise?

https://twitter.com/DanPriceSeattle/status/1309696726425628672 Restaurant industry profit margins are very low, so it seems to me that any franchise paying this much would be bankrupt instantly.

AskEconomics

So [this Bloomberg article](https://www.bloomberg.com/features/2015-mcdonalds-franchises/) has a [table](https://i.imgur.com/ZoLFd0w.jpg) that breaks down the finances for McDonald's franchises in the US (credit to /u/uptons_bjs for finding it). Based on this table, we can try and estimate the price/quantity change needed to support higher wages in the US. Specifically, let's see what needs to happen in order to keep the profit quantity constant. **Case 1: Growing Sales** Suppose that McDonalds was able to grow net sales by keeping prices constant. Furthermore, suppose that the composition of new sales was such that the composition of increased expenses did not change. In other words, assume that sales growing by 10% caused all other expenses to grow by the same amount. We don't have enough data to figure out what to assume otherwise, hence this is the simplest assumption. But, this will *overestimate* the quantity growth required to raise profit. [This table](https://i.imgur.com/CiXSUJ5.png) shows the necessary growth in sales in order to compensate for a 100% increase in payroll expenses. Basically, if net sales and the cost of goods go up by 77.5% along with other expenses, we can hit about the same level of total operating income as before. **Case 2: Raising Prices** This time, suppose McDonalds just raised prices. We will also assume complete inelasticity of demand (very wrong assumption!). We don't have enough data to figure out the true elasticity, so this is a generous assumption. Then, a Y% increase in prices will increase net sales by Y%, since we're assuming quantity sold doesn't change. At the same time, we can assume that all other costs and expenses are constant, since quantity sold is constant. Here's [the table](https://i.imgur.com/mbPC28O.png) but it now also shows how much of a price increase we need to compensate for a 100% increase in payroll expenses. As you can see, it's 37.5% which is a lot less than the quantity increase needed. **Case 3: Both** There's multiple possible solutions here. Note that a 10% sales growth and 10% price growth will raise net sales by 1.1^2 = 1.21. So, the math is a little bit different from before. However, we are again assuming inelastic prices and that quantity growth causes an equivalent percentage change in each row. The last part of [this table](https://i.imgur.com/9iF9yR1.png) shows that 15% price growth and 12% sales growth is enough to ensure profit stays the same. ---- So, basically, with a moderate increase in price and sales, US franchises could face double the payroll expenses without losing much operating income. But, take this all with a big grain of salt, because I've made some major simplifying assumptions to do the math here.

yxennq

Don’t take your small gains for granted. $600 profit a week is the same as a $15/hr full time job

There are times when we all might feel that we could be doing better, achieving higher and higher gains. I’ve set my weekly profit goal at $600. If I can do that consistently, it’ll be like working a 2nd job while hardly working at all. The wheel has enabled me to do that for the most part. Thanks Theta Gang. Good luck out there

thetagang

Without providing context of capital invested this isnt helpful to people. Consistent, % based gains is all that matters. So if you're doing this with a 300k port thats 10% and totally doable. Someone with a couple thousand bucks might see this and take unnecessary risk and blow up their account. Just for food for thought.

ihlam2

I graphed whether Reddit panics before the stock market does, or vice versa

So I did some quantitative sentiment analysis to see if News websites/Reddit/Twitter panics before the stock market does, or if the stock market panics before Reddit/Twitter does. I have written an algo determining (stock specific) sentiment, I ran this on a dataset with (financial) news headlines (about 900k headlines), Twitter headlines en (stock related) Reddit headlines. From that I compared sentiment to the SP500 and I compared the intensity and volume of negative headlines to the VIX. This resulted in the two plots shown. Since the plot is somewhat full, I made it interactive so one can show for example only Reddit sentiment and zoom in and out of datapoints. This is in html, but Im not sure whether its allowed to share the link here so in case one is interested to play around with it shoot me a pm. [https://imgur.com/yUI2c0N](https://imgur.com/yUI2c0N) On request, interactive html is on: [http://www.alternative-analytics.eu/dashboard/sentiment.html](http://www.alternative-analytics.eu/dashboard/sentiment.html) (just a plain clean html, no ads, links etc, base url also is not a general website), I update the graph daily.

investing

I will be the first to say it : nice job bro. I like people who puts time and effort into something trying to understand and analyze stuff and aren't afraid to go deep into the process. I salute your effort. Keep it going!

n2w7o9

Homes are selling insanely fast, with some going $1-200k over asking price. What does that mean for the future?

I'm not involved in real estate much, but I can't help but think that heavily over-paying on a property (which, granted, is a long-term investment) seems a bit crazy on the surface to me. Many are paying cash, waiving appraisals/inspections etc just to get to the top of a list for property listed 48 hours ago. I'm in the US, and I'm a bit familiar with how much foreign investors are at play. Is this just a potential recipe for another major bust, or is there more to this story than I understand?

AskEconomics

I wouldn't speak to much to the macro effects but I work in real estate so I'll lay out a few concepts. Sorry I'm on mobile. The prices are high right now for at least three reasons. The lowering of interest rates means people can spend more and keep the same monthly payment they would have 2 years ago. Sellers have seen this and began raising prices last year as more people were shopping for homes then previously. Building materials have gone up in cost across the nation. From my understanding this is partly due to the forest fires in California, and partly due to covid restrictions on staffing at lumber mills. I believe tariffs have also had an effect. This has led to showing production. I've known a few builders that have just stopped production entirely last year. More jobs going online and work from home have given people the freedom to live further away from their work and to live where they've wanted to move. This includes people from HCOL areas moving to cheaper markets and beyond and to offer cash on top of what a bank would be able to loan on a property. This has all compounded to a lack of supply on a national scale. Some states have been hit worse then others. Our system of typical home loans requiring appraisals has at least slowed down the raise in pricing, but hasn't stopped the people with extra resources from offering over the appraised value. Appraiser's can only use comparable past sales to bracket appraised value with similar homes. As more homes are sold for inflated values, this become less of a hindrance on the values appraisers can reach. Common perception in my corner of the real estate corner is that values will lower as interest rates raise. The speed for both would depend on the federal reserve. Im personally not sure how much they'll lower, since production is in no way close to making up for the lack of supply. Even when production rates were at full capacity two years ago, some markets still had signs of lack of supply, so I'm not sure how they would catch up. How many jobs will continue to support remote workers? When will building material production raise enough to lower supply cost? Will we struggle with finding labor for the needed housing supply? Will interest rates raise too sharply force home values to crash? Stay tuned for the next episode

7mzcfp

Stellar is going to be $1 soon

The ripple effect will hit stellar as people take profits and reinvest them into similar tech with IBM added. I said XLM should be top 10, now it is. Top 7 next.

CryptoMarkets

Back when this was .02 cents I tried to buy a small amount, but because I'm a moron I accidently bought a little over 100k stellar. Decided to own the mistake and keep it all instead of selling. Sometimes idiots get lucky.

mhxhsq

AMA: I am a wealth advisor to high net worth individuals and institutions ($5M-$1B+)

There is a lot of discussion regarding advisors in this sub reddit. There is a lot of good information and bad information. I want to give an opportunity for anyone to get answers "straight from the horses mouth" and have an honest conversation about what types of advisors there are, what they do, how they make money etc. Personally, I am part of an RIA (Registered Investment Advisory) were we focus on business owners and institutional capital. Ask away and don't hold back! ​ \*Mods - I am happy to verify if need be! **EDIT - WOW, I never imagined this thread would blow up like it did. I will keep trying to work through the comments. I hope this helped!

fatFIRE

[This classic post](https://www.reddit.com/r/AskReddit/comments/2s9u0s/what_do_insanely_wealthy_people_buy_that_ordinary/cnnmca8/) from 6 years ago breaks down different levels of wealth and what people at each level are like. Does this summary match what you see today? If not, how is it different? As a summary, it states: * **$10mm-$30mm liquid (exclusive of value of primary residence):** At this level, your needs are met. You can live very comfortably at a 4-star/5-star level. You can book a $2000 suite for a special occasion. * **$30mm-$100mm:** At this point, you start playing with the big boys. You can travel ANYWHERE in any style. You can buy pretty much anything that normal people think of as 'rich people stuff' * **$100mm-$1billion:** I know its a wide range, but life doesn't change much when you go from being worth $200mm-$900mm. At this point, you have a private jet, multiple residences with staff, elite cars at each residence, if its your thing, you can socialize with movie stars/politicians/rock stars/corporate elite/aristocracy. * **$1billion:** I am going to exclude the $10b+ crowd, because they live a head-of-state life. But at $1b, life changes. You can buy anything. ANYTHING.

n7g5gp

Citadel Securities Has Over $57,500,000,000 In Open Short Positions On Its Books... I Think I Found Out What Happened In January, and Why Trading Was Halted...

Superstonk

Holy shit... if you think about it... this is fucking dirty. Think of the timing of this. This was around the beginning of the pandemic where everyone was bored as fuck at home and a lot of retail was putting money to invest on Robinhood. If citadel’s automatic system generate a short share for every share they process... and they have the power to naked short millions of shares on any company they want.. they’re fucking just stealing retail’s money. They have to fucking ban naked short selling asap.

wce3b9

Why is the news so negative about house prices dropping when this is great news for minimum wage workers like me trying to get a foot in the door?

Every article I read paints the picture that the housing market dropping 20% will be a disaster for the country but for low income earners like myself I might be able to actually afford something decent in a short while. During the pandemic prices were moving up so fast I thought it was over for me and the media was celebrating this. I guess im supposed to feel guilty that I may not be priced out of owning home? There’s all this talk about addressing housing affordability but when it actually starts to happen people scream the sky is falling. I don’t get it. Do people earning less than 100k per year even have a goddamn voice in this country?

AusFinance

Even in this comment thread you have folks trying to pretzel logic there way into saying "Lower house prices are actually bad for low income people" Because folks god damn lost their minds when it comes to housing - there is no scenario where having essential cost of living like food, housing, electricity, etc be expensive is good for low income people, it's silliness

qk24ep

I'll give $1,000 to anyone who can disprove the thesis

Proof or ban in full effect. Mods, I'm happy to comply with whatever evidence you need. Why? Because it hasn't been done. There are clear elements to this thesis, that if proven/disproven, can/should essentially tank the stock. 1. Short interest - where did it go? If Melvin fully covered their short position, there ought to be a paper trail detailing their purchase. If they covered by way of exercising ITM call options purchased with the $2bn Citadel/Point72 bailout, then there should be some record/filing showing this purchase. So far, the SEC report shows at most the buy volume to cover at 30m shares. Out of 50m shares outstanding, 70m shares were sold short. So, if anyone can point me to any peice of evidence detailing that 70m shares were purchased by shorts, congratulations. DM me your email and I'll send you an e-transfer for $1,000. 2. Naked short selling - it's a myth. Broker-dealers can sell short a client's long sale in order to lock in the execution price, which is immediately followed by a long buy of their client's sale. Market makers can also sell short any long sales received from brokers, without locating a borrow, which is exempt under reg SHO to provide bona-fide liquidity. So the proof here would be, show me a paper trail / audit trail of the brokers and market makers buying long immediately after a short sell. That would dispel the naked short selling thesis immediately. Show that the net inventory balance of shares are zero (net of DOOMPs and deep ITM call exercises), in any cursory form. DM me your email and I'll send you an e-transfer for $1,000. 3. Existence of synthetics - its a myth. The DTCC maintains an obligation warehouse whereby members submit their ex-clearing trades to OW for real-time matching by the contra-party. Once the submitting party enters the required transaction information, an advisory is sent by OW to the contra-party requesting that they respond by submitting identical transaction details to facilitate a compared obligation, or by affirming the obligation via the OW Web screen. The matched trade is then considered an open obligation. This one should be straightforward to prove. These transactions will have identifiers as mandated by FINRA. Show that the open obligations net to zero at the end of t+2. Show the transaction IDs tying each transaction in the Continuous Net Settlement system. DM me your email and I'll send you an e-transfer for $1,000. 4. Unusual derivatives activity - a wild conspiracy. Cool. So why not disclose the notional swap exposures and call it a day? Disclose the counterparties to the deep OTM puts. If you have nothing to hide, why did the CFTC issue a no-action letter to delay reporting of swap positions to 2023? Also, provide a clear explanation for the options activity. Who is buying these options and why? For delta hedging you say? A simple explanation for the significant DOOMPs volume following Jan 28 would suffice. If you know how to code, this one should be easy to prove. I don't know how to code, but if you're computer savvy, it's as easy as scraping the data from every N-PORT filing for every single fund active under SEC EDGAR, finding the unique identifier for all Gamestop-related swap (should be one for each bank) [Edit: with a negative depreciation value between 3/31/2021 - 6/30/2021 - completed quarter. Correction - swap notionals will be positive]. Sum the totals, and if you can show a sum less than the current market cap of GME, DM me your email and I'll send you an e-transfer for $1,000. That's all I could think of off the top of my head. Comment if you can think of others. Shills, if you're reading this, please forward this post to your superiors. If you guys can come out and provide the evidence requested in this post, it will disprove this "conspiracy theory" once and for all. Your firms will save tons of face, probably fully recover from this PR disaster, get out ahead of the story, control the narrative, and leave no question as to whether or not a crime was committed. I've kept the prize low ($1,000) because I'm dead serious and it's an amount I can afford to pay. The GME thesis hasn't been disproven, and it's been 10 months. I'm not familiar with US databases (I'm Canadian) nor am I a computer expert, otherwise I would've done the digging myself. And I have fucking tried, but all my deep dives usually end up at a dead end, mostly due to a lack of transparency. But who knows? Maybe someone out there knows something I don't. And I'm willing to pay for the information I'm looking for. Comment below if you have the evidence I'm looking for. It should be public record. If satisfactory evidence is provided, I'll send you an e-transfer for $1,000.

Superstonk

I've been searching for similar answers as you for months, and I don't think they exist, to the point I'm seriously considering offering to add additional cash to your proposals to up the ante on those who think they can prove your thesis wrong. In my opinion this is one of the best posts to hit Reddit recently. The theories in question are clear and concise, and offer ways to disprove them that have yet to be disproven. These are the questions that need to be answered for me to ever have a single ounce of faith in the US stock market. The thing is, if someone out there has solid undeniable proof that the GME thesis is incorrect, then the inaccessibility for transparent information on that proof is directly impacting the investment decisions of millions of individual investors, and allows the traders with the knowledge of the proof to make unfair, advantageous, and just down right predatory decisions based around the stock. The extremely ineffective US finance regulatory systems which allow reported information to be diluted, wrong, unnecessarily confusing, and/or just straight up hidden behind paywalls can't continue, it just simply can't. It's been 9 fucking months and still no one has answers on what really happened on Jan 28th? Let alone everyday since? Every transaction on the stock market leaves a paper trail, the apes have showcased a lot of possible scenarios of manipulation, HF/Media/SEC/etc have shown absolutely 0 possible scenarios of hedgies not being fuk'd. The cool thing though is that even if someone did show me that the GME squeeze is not a possibility using math and facts, it's still a great fucking value play. It's a shame that the credibility of the US stock market has so much potential right now to completely crash and burn before GME even has the chance to really show us what it's worth. Edit: Fuck it. Add an extra $100 per question from me.

ef2iw

Who else understands that "taxing the rich" does not mean penalizing small business? Most business costs, including wages are expenses and not taxed!

People seem to think that small business "job creators" will be taxed out of existence if taxes for the wealthy are raised, or technically, returned to the higher rates. But, what actually happens is that nearly every penny a business spends to conduct its business is an expense and is not taxable at all. That means inventory, operating expenses, insurance, wages, other taxes etc. are not taxed. To give an example: a small business on some main street pulls in $500,000/year. She pays $250,000 on inventory, $50,000 in operating expenses such as rent, utilities, maintenance, insurance, fees, advertisement, supplies and so on, and pays a total of say $150,000 for wages for 6 employees. She is not taxed on any of that money! If she takes all the profits for herself that year, she would be paying herself $50,000 ($500,000 minus inventory costs, operating expenses and wage expenses). Even then she gets standard deductions and exemptions for herself and her family. If she has four people in her family maybe $15,000 will be exempted, and she would pay taxes on only $35,000...a far cry from the $250,000 bracket. tldr: Out of $500,000 revenue for instance, the taxable amount to the small business owner(s) is a small fraction after all the expenses are deducted. EDIT: Great Conversation all! Lots of clarification in the threads and a lot of nonsense and stupidity too lol. 1. Yes the inventory cost is incorrect in my example, it should also include how much inventory was left at the end of the year, and that amount is considered an asset and might be taxed.

Economics

6 employees willing to work for $25,000? operating expenses $50k? your skewing all the information to help you make your point. your example is complete nonsense, it reminds me of the movie "back to school" when rodney dangerfield schooled the professor in his business class. your confusing paying taxes as a small buisness with paying taxes as a single income earner. try using real world examples: http://www.smbiz.com/sbfaq012.html

7ps09k

FYI - This time last year BTC was $801 USD

I am loving our growth this year, and if bitcoin can get to where it is as an unusable coin, there is no reason Ethereum (which is superior in every way) can't

ethtrader

You're not wrong, but I think a direct correlation to Bitcoin is unwise. Not even considering total supply, remember that Bitcoin has years in development. To call it an unusable coin is just wrong, it is a gateway key (much like eth) for alts, and had real-world usability on sites such as silk road. That being said I have 0 btc, and hold around 70% of my stake in eth. It is far superior and could definitely take over btc as the face of crypto but it'll take some time. The fact that we still compare it towards btc means that btc is still the poster child of the cypto market. Edit: Also Bitcoin has much more use in Asian countries, just because adoption hasn't happened globally doesn't mean it's non existent.

t0m79o

Why is America so hesitant to cut Russia off from the SWIFT banking system?

The only reason I can think of is that cutting Russia off from the SWIFT network would push some countries to adopt a blockchain-based monetary system, which in turn would reduce their reliance on a US-centric international monetary system. Is this the main fear? Is it the ONLY fear?

AskEconomics

It's good practice to hold some sanctions in reserve to punish further transgressions - for example if Russia cuts electricity off to Kiev. If you front-load all your sanctions you 'free' the target to behave as badly as they want with no consequences.

jxq4fr

Roblox IPO is a great way to teach your kids about the stock market

Kids love Roblox. On the school run I mentioned that we'll soon be able to buy some shares in Roblox and that means we'd own a little piece and as Roblox grows and more kids buy Robux we'd make money and if we left it there for years and years in ten years you might be able to buy a car or something. They were super enthusiastic. I'm looking forward to having this experience with them win or lose.

investing

I’m teaching my kid all I know about the stock market by taking his allowance and setting it on fire in front of him. Edit: for fuck sake it’s not even that funny of a comment what’s wrong with you all

w36jdv

Unpopular Opinion: This sub likes to push out all of our solid DD writers.

Everyone's know of the Trust me Bro from Thabat, and now we're making fun of him. He told us about Cellar boxing and now he came out to give us a personal experience which he clearly stated, believe it or not on his own, and we give him shit for it? Don't believe it, don't upvote it, if that's the sentiment. Some guy trying to buy on a Sunday is alright with the sub, but let's bash on someone who had nothing to gain, and is already recognized? Attobit was pushed away for being anti-GME allegedly, because that sub said so. Criand was pushed out because he said options will hurt hedge fucks. Even our "Queen Kong" doesn't care about this sub. The DD is solid. We know MOASS is inevitable. This sub always seems sus after a few months. After the runic glory days, it seemed like we were heading in the right direction, but for some reason we are always falling back to claiming FUD. We just need to hodl. Stop believing every top post has a hidden agenda. If it's enough to be at the top, it motivates people. I used to love the days when ButtFarm had a meme at the top. I'm an autistic retard at heart. When I bought in back in September of 2020, I followed DFV. The memes were great, and we laugh at MSM. Now all we do is try and justify each post. I already know this in itself is coming. I always wanted to have a drink on the moon with every single one of you who hedl next to me. Honestly, now I'd rather cheers to DFV, and Ryan Cohen for the experience in the comfort of my own home. To all the DD writers, thank you. EDIT: Well, shit. I expected downvotes and self harm bots messaging me. I said what I said, and karma didn't matter to me. I'm glad to know there are others that feel the same and appreciate all the DD we've been given. Upvote or downvote. Make your own decisions, we are all individual investors. Divide and conquer is all they have, MSM has no influence over us. We can be our own enemies if we allow it.

Superstonk

Yeah I'm not going anywhere lol I don't care if people believe me or not. That was a thing that happened. It was so crazy that I had to post it. The crazy nature of it is what made it worth posting, and if people don't believe it then I understand because I did say it's a major trust me bro moment. If people don't believe it, fine, I'll still be here and post what ever DD I find that can actually be verified. I love you guys.

wixmfc

Relative has $600,000 burning in a savings account

Hi All, In short, my Mother In Law has over $600,000 sitting in her savings account after her partner died, she injured her back badly enough that she couldnt live by herself so she sold the family home and chipped in with my Wife and I to buy a bigger place to suit a dual living situation. Problem now is investing the rest, shes terrified of stocks regardless of how safe or diversified I tell her they can be, and she also doesnt want to buy a property that would require a mortgage ontop off (rental income would cover this) the only thing she is keen on are Term deposits which are barely "investing" and just ease inflation. Does Ausfinance have any suggestions on how I can best suggest she use her money to make sure she can live without needing work for the rest of her life? (I did suggest she could pay off our mortgage and I would pay her back over the 20 years remaining at our current interest rate but no dice)

AusFinance

Honestly, if she’s not comfortable taking on risk via shares or loans…do not push this any further. Everyone has a different tolerance for investments and it sounds as if cash/TD’s may be it for her. Mixing money and family is a dangerous business so as much as you are well intentioned, I would tread carefully

bhy2j8

I found three physical copies of a Walt Disney share under my name

I recently found a physical copy of three shares of the Walt Disney company which were apparently given to me as a gift when I was born, is there anything I can actually do with them or are they just for show?

personalfinance

"Disney stock has split seven times: in 1956, 1967, 1971, 1972, 1986, 1992 and 1998. The 1998 split was a 3-for-1 split. The splits in 1986 and 1992 were 4-for-1. The others were all 2-for-1. " ​ 1 share of Disney from 1956 would be 768 shares. I'm assuming OP isn't that old. Let's say they were bought prior to the 1986 split - that would be 48 shares x 3 = 144 shares @ $139/share would be just over $20,000.

jwesme

How to see if a bank is risky for placing your deposits? [A guide from a banker]

Although Lakshmi Vilas Bank is being sold to and recapitalised by a well to do Bank (DBS Bank), you do not want to be their depositor now for the inconvenience it causes. This is a basic guide to avoid such situations. Read on! ​ **Number 1. Check your Bank’s capital adequacy ratio** Suppose a bank raised a deposit of ₹100. They are supposed to set aside ₹10 and lend the remaining ₹90. If the banks owners contribute ₹5, then their CAR would be (10+5)/90 = 16.66% This is a gross simplification but you get the idea. A Healthy number is to be above 12%. LVB’s CAR was at 0.17% as on 30th June 2020!! ​ **Number 2: Check their gross NPA(GNPA) & net NPA (NNPA) ratio** Coming back to our example, if a bank lent ₹90 rupees and ₹9 went sour, then they have a GNPA of (9/90) = 10%. A good bank should be below this and below 5% is considered to be very safe (in the Indian context) LVB had a GNPA of 25.40% as on 30th June 2020! ​ This bank had more red flags than the communist party. ​ In our example, if a bank set aside ₹3 from their profits as a provision (meaning they will use this money to set good their losses from their NPAs) then their NNPA is (9-3)/90= 6.67%. A good bank would have it under 3%. (Ideal ratios are subject to change depending on the current state of the economy) LVB had a NNPA of 9.64% on 30/06/2020. ​ **Number 3. Check your bank’s quarterly numbers trend** Is your bank making profits or losses? Is their revenue increasing ? If they are making losses continuously, then they will be unable to repay the depositors. LVB’s share price touched a peak of ₹187.19 on 14/07/2017. Now it is at ₹12.45. One of the major reasons for that is their continuing losses due to High NPAs. Contrast it with HDFC (or SBI/ICICI/Kotak etc) which is creating shareholder value year on year. Both the income and profits of these are increasing year on year. It is well and good to note this because share price is nothing but people’s perception. As long as people perceive a bank is good, your money is safe even if the bank is actually having troubles. Once people get afraid and start to withdraw their money, trouble starts. ​ **Number 4. See if your bank is in the RBI’s Prompt corrective action(PCA) framework list** If you find it too much to follow all this, RBI does most of the work for you. RBI places banks who are weak on the first three parameters in a watchlist called PCA. You can simply google “\[your bank name\] PCA” under the news section of google to find out if your bank is on the list. ​ **Number 5. How would I a banker, choose my bank?** I’d have at the very least, two accounts. 1) A well to do Private Bank & 2) well capitalised public bank. ​ During a crisis like demonetisation, it was the public banks that worked the most to distribute fresh cash as RBI would have prioritised them first (I was in SBI then and witnessed this first hand). My first choice for a PSB will be SBI since it’s tagged as systemically important and also it is the biggest PSB by market cap and meets all other parameters mentioned above. ​ I’d also have a private bank in order to get faster service, thereby enjoying the best of both worlds. I’d pick the nearest branch from the likes of HDFC, ICICI, Kotak or Axis (I chose ICICI since I work at ICICI now, not much of a choice actually but it still is the nearest to my house anyway ) ​ If I were to become a HNI one day, I’d open a third bank account( in order to reduce concentration risk) with another well to do private bank and my choice would be HDFC Bank today. By market cap, HDFC is the leader followed by Kotak and ICICI among private banks. For public sector, it is SBI followed by PNB and IDBI. ​ Note: Some banks are tagged systemically important or too big to fail. Basically it means RBI will bail them out if they ever screw up. I have not put this as my criteria because my first priority is to ensure I have uninterrupted access to my money. I don’t want to wait a couple of weeks and then get my money back like they did for YES Bank. ​ This list is by no means comprehensive. I’m planning to write a more comprehensive one for my blog later on but it contains the most important ones in my opinion. ​ Edit: formatting Edit 2: Wrote this on my mobile so added some more formatting. What about IDFC first? check out u/sansays & u/mosalahpavbhaji07's comments below which pretty much echoes my views. Edit 3: YES Bank was under moratorium for 2 weeks, not months. Changed it.

IndiaInvestments

Very educative. If anybody had posted such analysis of NNPA, GNPA, CAR prior to the bank going belly up, so many depositors would be forewarned. Is there a place where I can find this data for all public banks??

jwesme

How to see if a bank is risky for placing your deposits? [A guide from a banker]

Although Lakshmi Vilas Bank is being sold to and recapitalised by a well to do Bank (DBS Bank), you do not want to be their depositor now for the inconvenience it causes. This is a basic guide to avoid such situations. Read on! ​ **Number 1. Check your Bank’s capital adequacy ratio** Suppose a bank raised a deposit of ₹100. They are supposed to set aside ₹10 and lend the remaining ₹90. If the banks owners contribute ₹5, then their CAR would be (10+5)/90 = 16.66% This is a gross simplification but you get the idea. A Healthy number is to be above 12%. LVB’s CAR was at 0.17% as on 30th June 2020!! ​ **Number 2: Check their gross NPA(GNPA) & net NPA (NNPA) ratio** Coming back to our example, if a bank lent ₹90 rupees and ₹9 went sour, then they have a GNPA of (9/90) = 10%. A good bank should be below this and below 5% is considered to be very safe (in the Indian context) LVB had a GNPA of 25.40% as on 30th June 2020! ​ This bank had more red flags than the communist party. ​ In our example, if a bank set aside ₹3 from their profits as a provision (meaning they will use this money to set good their losses from their NPAs) then their NNPA is (9-3)/90= 6.67%. A good bank would have it under 3%. (Ideal ratios are subject to change depending on the current state of the economy) LVB had a NNPA of 9.64% on 30/06/2020. ​ **Number 3. Check your bank’s quarterly numbers trend** Is your bank making profits or losses? Is their revenue increasing ? If they are making losses continuously, then they will be unable to repay the depositors. LVB’s share price touched a peak of ₹187.19 on 14/07/2017. Now it is at ₹12.45. One of the major reasons for that is their continuing losses due to High NPAs. Contrast it with HDFC (or SBI/ICICI/Kotak etc) which is creating shareholder value year on year. Both the income and profits of these are increasing year on year. It is well and good to note this because share price is nothing but people’s perception. As long as people perceive a bank is good, your money is safe even if the bank is actually having troubles. Once people get afraid and start to withdraw their money, trouble starts. ​ **Number 4. See if your bank is in the RBI’s Prompt corrective action(PCA) framework list** If you find it too much to follow all this, RBI does most of the work for you. RBI places banks who are weak on the first three parameters in a watchlist called PCA. You can simply google “\[your bank name\] PCA” under the news section of google to find out if your bank is on the list. ​ **Number 5. How would I a banker, choose my bank?** I’d have at the very least, two accounts. 1) A well to do Private Bank & 2) well capitalised public bank. ​ During a crisis like demonetisation, it was the public banks that worked the most to distribute fresh cash as RBI would have prioritised them first (I was in SBI then and witnessed this first hand). My first choice for a PSB will be SBI since it’s tagged as systemically important and also it is the biggest PSB by market cap and meets all other parameters mentioned above. ​ I’d also have a private bank in order to get faster service, thereby enjoying the best of both worlds. I’d pick the nearest branch from the likes of HDFC, ICICI, Kotak or Axis (I chose ICICI since I work at ICICI now, not much of a choice actually but it still is the nearest to my house anyway ) ​ If I were to become a HNI one day, I’d open a third bank account( in order to reduce concentration risk) with another well to do private bank and my choice would be HDFC Bank today. By market cap, HDFC is the leader followed by Kotak and ICICI among private banks. For public sector, it is SBI followed by PNB and IDBI. ​ Note: Some banks are tagged systemically important or too big to fail. Basically it means RBI will bail them out if they ever screw up. I have not put this as my criteria because my first priority is to ensure I have uninterrupted access to my money. I don’t want to wait a couple of weeks and then get my money back like they did for YES Bank. ​ This list is by no means comprehensive. I’m planning to write a more comprehensive one for my blog later on but it contains the most important ones in my opinion. ​ Edit: formatting Edit 2: Wrote this on my mobile so added some more formatting. What about IDFC first? check out u/sansays & u/mosalahpavbhaji07's comments below which pretty much echoes my views. Edit 3: YES Bank was under moratorium for 2 weeks, not months. Changed it.

IndiaInvestments

I am unable to grasp that why people choose deposit their money in any bank other than the ones too big too fail. Why can't everyone just use big established banks sbi, icici, hdfc, canara, pnb, kotak, bank of baroda?

o7klxj

Looks like the recent RobinHood Class Action SI Report just proved /u/broccaaa's data. That the shorts haven't covered, that they hid SI% through Deep ITM CALLs, and SI% is a minimum of 226.42%.

​ # Edit: Numbers from RobinHood case are alleged so far, not proven. I cannot edit the post title. That being said, results of Deep ITM CALLs comes up with roughly the same 226.42%, which is quite telling. We also see that PHLX exchange is used to buy and exercise these calls almost immediately - exactly as outlined in the SEC document on how to shift a short position to become synthetic. # 0. Preface I am not a financial advisor and I do not provide financial advice. Thoughts here are my opinion, and others are speculative. Shout out to king /u/broccaaa for their contributions. I always figured that your assumptions were correct that the SHFs were using these Deep ITM CALLs to hide SI%, but we never got some quick maths behind it to see if it was true. (Maybe we did though! Sorry if I did not see anyone's posts about this) Well, this is for you /u/broccaaa, and all the apes. [Spreading Love To All](https://preview.redd.it/seveg72frd771.png?width=466&format=png&auto=webp&s=820b960584c2976dfe040f84463f84e3d9ba1ad3) # 1. GME SI% Is A Minimum Of 226.42%; Shorts Were Hidden With Deep ITM CALLs Way way back in time, since many of you probably feel like you've aged years over the course of 6 months, there was a blip of **226.42**% SI in January. Many believed this was a glitch: [https:\/\/www.reddit.com\/r\/GME\/comments\/lgjztf\/wtf\_is\_going\_on\_with\_finra\_is\_it\_7846\_or\_22642\/](https://preview.redd.it/scgcw5t6qd771.png?width=959&format=png&auto=webp&s=10059cac48bcb52fdb8cbc8d27743f3dcff97166) ~~That's what many may have thought, that it was just a glitch, until recently a~~ [~~Class Action against RobinHood~~](https://www.reddit.com/r/Superstonk/comments/o6mp0c/from_class_action_against_rh_look_at_that_juicy/) ~~proved that was, indeed, the SI% upon January 15th, 2021:~~ Edit: Thank you much for everyone's replies. We must consider this as still speculative and not proven as it is a number alleged by the plantiff. Allegedly, [per a Class Action against RobinHood](https://www.reddit.com/r/Superstonk/comments/o6mp0c/from_class_action_against_rh_look_at_that_juicy/), the SI% was 226.42% upon January 15th, 2021: [https:\/\/www.reddit.com\/r\/Superstonk\/comments\/o6mp0c\/from\_class\_action\_against\_rh\_look\_at\_that\_juicy\/](https://preview.redd.it/vnlimw17qd771.png?width=602&format=png&auto=webp&s=079aa90f257df07a297b6c5d8961e6500bc17139) Put yourself in the SHF's shoes. You have a shitload of retail buy pressure going on. You're way overshorted. What do you do? Do you cover? Pfft. Nah. That's way too much. Impossible to cover. Absolutely screwed. Lucky for you the SEC [has identified malicious options practices](https://www.sec.gov/about/offices/ocie/options-trading-risk-alert.pdf) which can be used for just such an occasion to make it appear that you've covered. Let's say you want to make it "appear" that you covered your short. You can perform a buy-write trade with a bona-fide Market Maker. Who might help you out as a bona-fide Market Maker? **Citadel** might come to mind (not saying it's them, just an example since they are well known)! The trade ends up being the following: 1. Trader A who needs to hide their short position enters the buy-write trade with Trader B (Citadel). 2. Trader A sells a Deep ITM CALL to Trader B (Citadel). 3. Trader A simultaneously buys shares from Trader B (Citadel). 4. Trader A now appears to have purchased shares to cover their short position, and Trader B (Citadel) gets a small amount of cash in return. * They tend to trade Deep ITM CALLs that have little to no OI so that the trade is almost guaranteed to be between Trader A and Trader B. * Trader B tends to exercise these CALLs **on the same day.** **And this is exactly what we have been seeing because CALL OI does not increase.** * The net effect on this is that Trader B has looped around their shares. They sold them to Trader A, and then got them back through exercising the CALL. Meanwhile, Trader A has "covered" their original short position but now they are "short" the CALL, meaning it is now a synthetic short. Here is the supporting text [from the SEC itself](https://www.sec.gov/about/offices/ocie/options-trading-risk-alert.pdf) if you want to verify for yourself. A report from 2013 titled "**Strengthening Practices for Preventing and Detecting Illegal Options Trading Used to Reset Reg SHO Close-out Obligations**": [https:\/\/www.sec.gov\/about\/offices\/ocie\/options-trading-risk-alert.pdf Section II](https://preview.redd.it/eckz2hh7qd771.png?width=794&format=png&auto=webp&s=ec5f2fe9ca82bfba28eac658aac8fd3eb5c21d5e) [https:\/\/www.sec.gov\/about\/offices\/ocie\/options-trading-risk-alert.pdf Section II](https://preview.redd.it/ttjlxv28qd771.png?width=797&format=png&auto=webp&s=0eaaba948743cc947567322eba21603acf2ac2df) [https:\/\/www.sec.gov\/about\/offices\/ocie\/options-trading-risk-alert.pdf Section II](https://preview.redd.it/pti33wf8qd771.png?width=780&format=png&auto=webp&s=237494bf40c19dd2ef0771f42168bbf3ca90d6cb) [https:\/\/www.sec.gov\/about\/offices\/ocie\/options-trading-risk-alert.pdf Section II](https://preview.redd.it/zq8z28y8qd771.png?width=804&format=png&auto=webp&s=c80ec2e4932aa8e5660bcb8da4b88871611a377f) [https:\/\/www.sec.gov\/about\/offices\/ocie\/options-trading-risk-alert.pdf Section II](https://preview.redd.it/2zah2nc9qd771.png?width=798&format=png&auto=webp&s=df0a14005a591657d993ea153a5240516417f875) [https:\/\/www.sec.gov\/about\/offices\/ocie\/options-trading-risk-alert.pdf Section II](https://preview.redd.it/sjip9hp9qd771.png?width=800&format=png&auto=webp&s=1848c26e64e7c9806e77e5b60bc2f1a4c7feacc8) ​ So, they can utilize Deep ITM CALLs to hide their short positions. We don't care about identifying Trader A and Trader B in this case. Just the fact that trades occurred on these Deep ITM CALL strikes and that OI is unaffected the day thereafter. That's enough to support the above theory that they're utilizing this practice to make it 'appear' that they've covered their short position. Check out what /u/broccaaa's data identified. Tons and tons of Deep ITM CALLs were traded in January prior to SI% dropping off of a cliff. By [my estimations](https://www.reddit.com/r/Superstonk/comments/nc1lny/ive_estimated_the_current_si_based_on_the_si/), about 1,100,000 CALL OI was traded prior to January 29th SI Report Date: [\/u\/broccaaa Data on Deep ITM CALL Volumes Vs FTDs of GME](https://preview.redd.it/0hp6hvx9qd771.png?width=1789&format=png&auto=webp&s=19d5261cf1cd7ec7995c12409bd46d2116094203) The SI Report Date of January 29th matters because that is the cutoff of when FINRA will [require settlement of short interest numbers](https://www.finra.org/filing-reporting/regulatory-filing-systems/short-interest) for the next SI report date. The next SI report date following January 29th settlement is February 12th. And we can see that after the mayhem of Deep ITM CALL purchases, SI% dropped from 226.42% of the January 15th report, to 30.2% upon February 12th: [https:\/\/www.marketbeat.com\/stocks\/NYSE\/GME\/short-interest\/](https://preview.redd.it/qpvqagaaqd771.png?width=1683&format=png&auto=webp&s=6d54d763f3bb46a697c4ff2ee94148806bf928e3) With the difference in SI% from 226.42% on January 15th down to 30.2% on February 12th, **we can assume that they have not covered their short position but rather hid their short position in synthetics if we can come up with a roughly equivalent SI% from the approximate Deep ITM CALL purchases.** The float of GME in January was approximately 57,840,000. The estimated Deep ITM CALL OI that was swapped is \~1,100,000 OI = \~110,000,000 shares worth. Which then gives an estimated SI% reduction of \~110,000,000 / 57,840,000 = \~190.18% shorts hidden between January 15th and February 12th report date. And since SI% on February 12th was 30.2%, then that gives a grand total of 190.18% + 30.2% = **220.38% SI per estimations**. That's dangerously close to the reported 226.42% SI from January 15th. So with that in mind - do you think they covered? [Estimations of SI% Based on Deep ITM CALL Purchases Up To January 29th](https://preview.redd.it/oieer6saqd771.png?width=1878&format=png&auto=webp&s=3355b8760408907f165bf7687581ce722bedc844)

Superstonk

For r/all; Anything over 40% Short Interest (SI) is heavily shorted compared to other stocks. 100% SI means that a company is shorted by 100% of it's entire float, which just shouldn't ever happen. 140% SI is the maximum amount that would generally ever be reported, as 140% is the maximum legal amount shares can be rehypothecated, so claiming a SI% above that is openly admitting to crime. 226.42% means there has been a fucktonne of crime, and more counterfeit shares exist than real shares. They all have to be bought back, and when they the price will literally go parabolic. -------- EDIT -------- Had a lot of people asking things like 'So what will actually force them to cover? Why can't they just keep conspiring?' Listen, the worlds whack and no one can know anything for sure, but heres MY personal understanding, copied from my reply to someone else ok here we go, bare in mind this is all my personal opinion again, not financial advice. I'm not very good at essay writing, so forgive me if this is hard to read. 1) The shorts aren't going away unless they cover. If they truly plan to never cover, then they will be permanently be bleeding out fees, and banks who have lent them money will eventually want their money back. Now you might propose, what if they conspire even more egregiously, and artificially force cover (without paying) the shares, well.. 2) It isn't only retail investors invested in GME. One of GMEs top holders is Blackrock, who has 9,175,737 shares in GME, or 12.965% ownership. https://www.marketbeat.com/stocks/NYSE/GME/institutional-ownership/ Who is Blackrock? risk management and fixed income institutional asset manager, BlackRock is the world's largest asset manager, with over $8 trillion in assets under management as of January 2021. https://en.wikipedia.org/wiki/BlackRock They are the single largest company in the world by Assets Under Management, with a huge 12.9% ownership of GME, and as of 5/7/2021 their investment was valued at $1.74B. It's worth understanding that it wouldn't just be retail that they are fucking over if they try anything, how do you think a multi-trillion dollar company would react if a billion dollar investment of theirs was artificially devalued? 3) Trying anything funky would jeoporadise trust in the entire US markets. There are eyes and journalists all over the world paying attention to how this situation is handled. Imagine if they turn off the buy button again. Foreign investors would never want to invest in US markets again, it would be clear as day to the common man that the stock markets are rigged. The government doesn't want this. 4) SEC, DTCC, NSCC, aka the financial regulators, have been unleashing a SLURRY of new rules these past 6 months, most of which seem aimed at containing a fallout and what to do incase a member (bank) fails, limiting short hedge fund practices, faster margin calls, and generally 'tightening the noose' so to speak. Please read this post for more detailed information https://www.reddit.com/r/Superstonk/comments/nhh0f1/update_go_nogo_for_launch_the_checklist_keeping/ but basically why would they be preparing for a fallout so dilligently if they planned to pull the rug on retail investors and bail out sHFs and banks. 5) It doesn't have to be GME which ignites it's own fuse. There are a lot of theories that we are imminent for a market crash. I'm sure you've seen this on r/all recently; https://www.reddit.com/r/Superstonk/comments/o4rfnu/the_fed_is_pinned_into_a_corner_from_the_2008/ In the event of a market crash, there will be lots of margin calls. Everyone is overleveraged as is, if assets market-wide drop 10, 20, 30%+ you can bet lots of places will have to liquidate, which will involve covering their short positions. Even if the top sHFs like citadel don't immediately have to, once someone smaller does, they will cover and rise the price a bit, which will make someone medium sized margin called and have to cover rising the price moderately, and these dominos will eventually reach citadel. 6) I'm sure there's some other stuff that I could mention but you're getting the picture, like the possibility of a crypto dividend. Anyway, please keep asking questions, it's how we bolster our own understanding and strengthen any holes in our thesis. About the deadlines, yeah there's a bit of a mix on this sub, some people like them because it gets us hype but others don't because if a date comes and goes it can be demoralising, and it's clear this is a patience game. I say get excited for dates but don't TRULY start believing any given date is the MOASS until it happens. One way to think of it is there is no dates, just times when the noose gets tigher and tighter, although I will say gosh it's looking pretty tight right now. Hope this helped, is there anything else you want me to try to explain? This is good for me too because I understand things better when I explain it to someone else. And feel free to join the sub :)

yuz5jh

I AM OFFICIALLY A FKING MILLIONAIRE. THANK YOU ABEL AVELLAN. THANK YOU $ASTS. THANK YOU WSB. LOVE YOU ALL. OVER 600k GAINS FROM THIS TRADE.

The unfurling of BW3 was a success! I have \~130k shares total spread across 7 accounts, at around a 7-dollar avg. Total gains if I close right now come out to \~130 000 x (10.66-7) = 130 000 x 3.66 = $475 800 USD $475 800 USD x 1.33 (USD to CAD conversion) = \~$632 000 CAD GAIN I am in shock. I will be trimming soon, but I will also keep a core position. Haven't figured out the specifics yet. To me, this is an insane long-term opportunity as well, so I won't sell everything. In my opinion, this stock has 100x potential if everything goes according to plan. I will sell a portion to lock in some gains though. LET'S FKING GOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOO Edit: Original post: [https://www.reddit.com/r/wallstreetbets/comments/ylvgis/selftrained\_in\_autism\_1m\_cad\_asts\_yolo\_max\_margin/](https://www.reddit.com/r/wallstreetbets/comments/ylvgis/selftrained_in_autism_1m_cad_asts_yolo_max_margin/) Kept over 10k shares as my core position. Sold everything else for a pretty respectable gain. Green is a good colour, I am not complaining. Earnings today, let's see what happens. Net worth comes out to a little less than 900k CAD. Me being a millionaire was short-lived lmao. Dw, I have my eyes on some things to short on max margin next. I think I can reclaim my millionaire status again soon if everything goes well 🙏 Will watch $ASTS like a hawk. I will buy again if we go back down to regarded prices. Cheers. Hope y'all make money. Edit #3: New positioning. Check the link out if you want! Also thank you all for your kind words. I'm sorry I couldn't get back to all of you. I didn't think I would get this much interaction, and I am a bit overwhelmed by the number of DMS and comments I have gotten. Love you all and wish you all the best!! [https://www.reddit.com/r/wallstreetbets/comments/yvdlow/now\_short\_on\_max\_margin\_i\_believe\_the\_bear\_market/](https://www.reddit.com/r/wallstreetbets/comments/yvdlow/now_short_on_max_margin_i_believe_the_bear_market/) [This shows my share count in my 3 largest accounts. The price hasn't been updated yet because the market hasn't opened.](https://preview.redd.it/yx9fp7jj1xz91.png?width=600&format=png&auto=webp&s=e118a6dfe06787510e490a5f94e0970f834989f5) ​ [Pre-market price](https://preview.redd.it/1zipii7z1xz91.png?width=563&format=png&auto=webp&s=49c656c2378b13d2a85eee5786bc1997ba953ac8)

wallstreetbets

Hey man, remember - “If it’s good enough to screenshot, It’s good enough to sell”. Close all your positions before the shit falls cuz rn you got euphoria and you believe things that are nearly impossible. Take the gains and leave, don’t repeat the faith of some people that were in a similar position.

oawq2v

Trading212 to start lending your shares to short sellers. No way to opt out once agreed.

Just a heads up, I know some people will feel uncomfortable about this. https://helpcentre.trading212.com/hc/en-us/articles/360011022978-How-Trading-212-will-execute-the-share-lending- > **How Trading 212 will execute the share lending?** >We will loan out some of the shares we hold on your behalf, and we will earn a modest amount of interest on that which will help us maintain a sustainable commission-free model. Share lending will be executed only for Invest accounts. > **Can I opt out of share lending?** >No. Once agreed to, the share lending cannot be discontinued in your Invest account. >If you decide to opt-out, then you’ll have to liquidate your holdings and request account closure.

UKInvesting

Little bit frustrating seeing these posts everywhere at the moment. T212 have had this in their T&Cs for a while now - goes to show how many people using their service knew what they signed up for. Share lending is not a new thing. If you perceive it to be an issue to your investing, move your shares into an ISA or move to a different broker who allows you to opt out. Moaning about it on 50 different Reddit posts isn't going to change much 🤷‍♂️ EDIT - to clarify, this isn't aimed at OP who may genuinely have concerns. More of a broad opinion having seen countless similar posts recently.

sevxxy

Your health is your most valuable investment.

Hello All, Just a reminder, I've heard and seen so many posts about people who are willing to **reduce their food spending** and eat industrial food or fast food in order to save and invest more money. Please keep in mind that y**our health is your most valuable investment**. Don't be afraid to invest in your health by purchasing high-quality foods and following a healthy diet, according to your budget, of course. I think that many people are only focused on money and forget to take care of themselves, which includes **exercising and eating well**. What's the point if you only think about money and ignore yourself? What's the point of saving for retirement if your life expectancy is decreasing and you won't probably be able to enjoy it? Now don't get me wrong: this may sound arrogant or rude, I get it. But, it's just a small caring message for those who may have forgotten to care for themselves and the fundamentals. I wish you all a pleasant and healthy journey to freedom. Take care.

eupersonalfinance

Good fresh food, no unecessary take outs, cut expenses that don't matter, increase expenses in things that matter, constant DCA in MSCI World, buy more when in a dip. Be constant, stay the course, never stop learning. Best investment is in yourself. Raise the intrinsic value of yourself.

nw0i5u

Shareholder Meeting- I DID NOT DO ANY INTERVIEWS

Hi apes! Yes I surprised everyone by showing up to the shareholders meeting today. Due to car trouble, I wasn't able to make it as early as I had hoped to be able to stream. Rough 24 hrs to get to Dallas for this meeting. But can't stop won't stop. I went and spoke to the gentleman standing outside HQ doors when I arrived, and was told only shareholders with certain proxy info were allowed inside, which I didn't qualify for as a broker held shareholder. Also that NO MEDIA PHOTOGRAPHY/ LIVESTREAM WAS ALLOWED ON THE PROPERTY- INDOOR OR OUT. But I was told we would be welcome to film from across the street. He also said he had heard of Superstonk which got me hype. Upon setting up, a CNBC camera man came and got a live feed of the apes that were set up there. He was a camera man, not a producer or interviewer. He was getting live B roll footage. Which yes, I got a little cute for and said hello. They asked for details to share with his producer about the apes. So I told him what subreddit we were members of, and that we like the stock. And I made it clear I DO NOT REPRESENT ANYONE. I am just 1 of many administrators and moderators on the subreddit. In fact, I made it very clear that there was NO ORGANIZATION because I didn't want the story twisted by mainstream media about why anyone was there. u/BodySurfDan was there for that conversation, as were several other apes. **I DID NOT DO AN INTERVIEW WITH ANYONE.** **IF CNBC HAS FOOTAGE OF ME, IT'S HANGING OUT WITH APES AT HQ. NOT AN INTERVIEW.** After the meeting, I intended to stream with the apes that went inside and I was gathering them and talking to them to go live, but we were asked to leave the location immediately by the property owners. And that's when our livestream had to end, so as to respect the private property rules from the owner. That's it. That was the whole crazy 15 minutes. Hope that clears some BS up. I went through hell to get here and get a camera on HQ somehow. Hope the real apes understand. **Just had a civil conversation.** Haven’t done any interviews.✌ Edit: words, spaces, punctuation, and clarified a pronoun. Edit 2: when I said "we're talking to CNBC right now, say Hi superstonk!" Or whatever the exact quote was... I was literally talking about the live CNBC camera in our face, filming all of us.

Superstonk

Thanks for clearing this up, obviously it is a stressful time for all apes but we should’ve known that you had our best interests at heart. Please pin this on the front as I’m sorting by new and the FUD around what transpired is overwhelming.

qg1oy1

Why do we need to redistribute wealth?

I keep seeing these phrases in this and other economic subreddits: “X would be a better way to redistribute wealth”. “ Y would decrease income inequality” They all mention it as already accepting that it is something we should aim to do. But why do we need to do this in economic terms? Does this help the economy in some way?

AskEconomics

I would say that for the most part this is in practice rooted in human notions of "fairness", we strive to redistribute because we want to and because we want to shift the burden from those who in absolute terms have less to those who have more because we believe that's the right thing to do. That doesn't mean there aren't any "economic" reasons to do so. We know empirically that (too much) inequality, be that in wealth or income (which after all, are related) can have adverse effects. There's evidence that inequality hampers economic growth. https://www.oecd-ilibrary.org/social-issues-migration-health/trends-in-income-inequality-and-its-impact-on-economic-growth_5jxrjncwxv6j-en https://www.sciencedirect.com/science/article/abs/pii/S0305750X15002600?via%3Dihub https://www.nber.org/system/files/working_papers/w3668/w3668.pdf https://www.project-syndicate.org/commentary/growth-inequality-wealth-distribution-by-jason-furman-2018-01?a_la=english&a_d=5a61bc3a78b6c71c5ca0520a&a_m=&a_a=click&a_s=&a_p=%2Farchive&a_li=growth-inequality-wealth-distribution-by-jason-furman-2018-01&a_pa=&a_ps=&barrier=accessreg There's evidence that it's self-perpetuating as well. https://voxeu.org/article/good-rich-bad-poor There's evidence it's also bad for health. https://www.bmj.com/content/312/7037/999 https://www.sciencedirect.com/science/article/abs/pii/S0277953614008399 ..and that it reduces social mobility. https://www.aeaweb.org/articles?id=10.1257%2Fjep.27.3.79&fbclid=IwAR2r5LqoqxdxIK50lBsjyU6hTjidhtIYjRsPmIJXQQTQdMxztwR6qKyUxvg ..leads to more crime. https://www.journals.uchicago.edu/doi/abs/10.1086/338347 https://www.economist.com/graphic-detail/2018/06/07/the-stark-relationship-between-income-inequality-and-crime ..makes people unhappy. https://journals.sagepub.com/doi/abs/10.1177/0956797611417262 https://hbr.org/2016/01/income-inequality-makes-whole-countries-less-happy ..leads to more protectionism. https://www.nytimes.com/2016/04/06/business/international/international-monetary-fund-christine-lagarde-inequality-protectionism.html ..and political divide. https://press.princeton.edu/titles/9836.html http://www.nyu.edu/gsas/dept/politics/faculty/przeworski/papers/przeworski_ba.pdf I hope you can see that the list of things negatively affected by inequality where there is either a direct impact on the economy or at the very least a conceivable connection to it is pretty long. Not to mention that given we strive to maximize social welfare, things like worse health or more crime negatively affect that as well.

mq9y72

Why are so many Americans living above their means?

The new car is on avg. $40,000, and the homes people buy are usually way above their pay grade. I see people making minimum wage buying a PS5 and fast food and unlimited data, etc. I make alright money and am frugal, no debt, and still I'm struggling to plan for kids, a home, and retirement. Is everyone just in massive debt? Is this sustainable or will it cause another crash?

FinancialPlanning

I’m old and it has been this way as long as I can remember. What I do know for sure now that I’ve lived this long is how stressful these people’s lives become as their more frugal peers begin to retire early or buy second homes, etc. Some are temporarily bailed out by inheritances at some point and some actually end up with high paying positions where they can make up for their prior choices. But most get more and more unhappy and often take refuge in alcohol or other self-medications. You just can’t put a price on the peace of mind that living beneath your means brings. I’ve yet to meet someone who says they saved too much.

tt3y2a

How in the hell are people getting jobs making over 50k a year, let alone 100k+?!?!

Maybe I'm just spending too much time in the wrong subs, but it's so frustrating. I feel like I've come so far, but it's never quite enough. I started in retail at $9.00/hr and topped out there five years later at $12.50 making not much more because they kept cutting my hours like they were making up for it. I found another job, started at $12 and two years later am making $17, full time. I finally felt like I wasn't drowning, but am still paycheck to paycheck for the most part because my partner is making so much less than me. Now, I got a great offer for a job starting at $22 an hour in a higher cost of living area, and even that isn't enough to secure me housing. But I hear about people making so much more, getting houses, saving back money, etc. How?!?! I just feel like no matter how much I improve, how good of a job I get, or how much more I make an hour it's not keeping up with the cost of living. How is this sustainable? I always felt like if I made this much an hour I'd finally be escaping the cycle, but even that seemingly insane amount of money to me still isn't enough to qualify for basic stuff like housing. How can I support my partner and two kids like this? It's not like I can slum it and rent a room somewhere. I need a house and can't qualify. This is so stupid. How do people make it? Hell, how do they land jobs making enough TO make it?!?! I never thought I'd be landing a job with this kind of pay and feel so stuck. I almost feel like it's locking me out of things instead of opening doors. $22 seems like SO MUCH money, and really it is, but it also isn't? Is this just lifestyle creep or is inflation that bad? EDIT: This post has exploded so much. I posted this as a complaint into the void and all of you have shown me so much support, help, and caring. I cannot express how much this means to me and how wonderful you all are. Thank you, you amazing, wonderful people. I promise I'll keep at it and take your advice. I'm sorry if I can't reply to you all, but I will try. Edit 2: I went to bed and this has gained even more attention. Thank you all for your support, it means the world to me. Hopefully the great stories and advice in the comments will help others too. Also, I appreciate the awards, but you don't have to spend real cash on this post, as grateful as I am for it. We're all fighting our own battles, and in this sub our shared one is our experience going without. Please take care of yourselves and your families over fake internet awards <3

povertyfinance

Most jobs that pay 50-100k are skilled trade or educated positions. I make 80k as an insurance adjuster. I have a dual Bachelor's degree. If you want to make good money, you need to either know things other people don't or be willing to do things other people won't.

n6xif1

PSA: Don't clutter your mind with chasing stupid cashback program, credit card offers, or privileged banking

I've noticed a significant increase in the cashback program, reward points and credit cards in the last 5 years Some of the examples: 1. Do a recharge of Rs 100 to win Rs 10 cashback 2. Get our free credit card and spent 5 Lakh in a year to get annual fees cancelled 3. Maintain 10L as the minimum balance in our bank to become a privileges member which will give you extra benefits. 4. Create a bank account with us and fund with 10K to win a 100Rs voucher. Here is the reality. You will spend much more with your credit card than you wanted to, just so you get the relief that you didn't have to pay annual fees. Your 10L minimum balance would have made you 10K per month if you have invested instead. Free demand drafts you will get as a privileged member will never amount to 10K in a month. In nutshell, all these programs are just an illusion of savings and you are not only spending more but also saving less. So next time instead of spending 1 hour trying to find the best deal for 100rs recharge, invest that time in your education instead, learn new things. Your increased income in upcoming years will be much higher than 10rs saving. Same with bank account. Don't try to match the high balance requirement. Don't keep a penny higher than your liquidity needs in a saving account. **Finally, I wanted to add that some deals are really good and are worth it. But 90% of the deals are crap and not worth your time.** **Update: Many people are just missing the point of this post. Just because you use everything wisely doesn't mean everyone is. If it was the case, credit card companies would bankrupt. So I'm not talking about you. Don't argue, just smile. Don't comment and brag either. It doesn't help the people who need to understand this.**

IndiaInvestments

This is true for most cases but there are some expections to the rule. For me personally, it's then Amazon Pay ICICI card. I have got about 30k in cash back in 18 months, it's my only credit card and I use it everywhere I go. I have purchased a 2.1 speaker system, a mobile phone for dad when he lost it last december and I still have about 5k left on the balance after all the swiggys and dunzos. The whole Amazon pay cashback system is fantastic and actually useful for someone like me.

7nu8cd

What happened to this sub?

**Ranting is about to ensue** Hey mods can we get some modding out here? All I see now are shit posts. • "Top 5 coins of 2017 number 5 will shock you." • "OMG guys buy into X super undervalued, low market. cap, great whitepaper." • "Guys WTF coin X is dropping fucking HODL." • Shitty Lambo memes. • "I'm out guys thanks for the roller coaster I've made 5000000000 dollars on X, Y, and Z." Isn't this sub supposed to be about the technology and talking about, I don't know, the actually fucking markets? I understand that alot of noobs are jumping on the crypto hype but please keep your shitty memes to yourselves we don't have many subs this big about coins as a whole w/o censorship. Mods please freaking mod ok. I've your having trouble controlling it all maybe open up some mod applications. At the very least raise the posting/commenting age and karma requirements. ^sorry ^I'm ^naturally ^salty ^as ^fuck. Edit: I'd like to thank the mods for reaching out and taking all of our feedback. A couple more things and rule proposals. • Stop spamming your referral codes this isn't the place and no one is going to use it. • Cut it out with the low effort posts one one wants to rate your portfolio no one cares. • No more shit ICO's you know what mean the ones that are obviously spam • No more clickbaity BuzzFeed like shit. "Top 10 coins of 2017" I've talked to a mod and hopefully they are planning on implementing some new rules and allowing the community to vote on them as this sub continues to grow. ^anyway ^thanks ^for ^listening ^to ^my ^annoying ^rant

CryptoMarkets

Mod here. Unlike some others, I live in Australia so I'm mostly active at different times. However I tend to spend most time in the modqueue removing posts and banning people. We've had quite an influx of binance and kucoin referral spam. I encourage everyone in this sub to report any content that looks like it's spam or against the rules, including referrals. If it's not reported sometimes we miss it. BTW just checking the modlog, in these few months I've banned 64 accounts, removed 198 posts and 192 comments. I don't know if those numbers are high since I'm new at being a mod but it made me more understanding at how much spam there is online.

o61q1l

Millennials, how did your wealth change throughout your life?

I'm curious how everyone's wealth has changed throughout their life, particularly if you are a millennial (let's define that as anyone in their late 20s to early 40s). * Many of you graduated during a recession -- how tight was money when you were younger? * Did the money situation improve as you got older? And if so, why was that? * when/what got you into trading in the first place? Interested in hearing everyone's stories!

Trading

Wtf is wealth? I work a job where I make pennies every day. Only way I survive is by cutting my costs down to a miniscule percentage of my wages. I have some savings, but inflation is killing it. Lmao funny world. Able to save some money first time in my life and watching it get swallowed by inflation. Wealth. Yeah, that's it. Iraq war vet, hardly any debt. My net worth is probably under 30k. America is a joke to me. Spent most of my life fighting in bullshit wars and have nothing to show for it but some ribbons. Meanwhile some idiot whose parents sent him through college had all the opportunities with none of the cost. Looking forward to dying of whatever the next gulf war syndrome is gonna be. Brain cancer, lung cancer, whatever. America's a joke. I use to believe in it, now I see it for what it really is. One big lie that they sold the poor soldiers on patriotism. I made less than 2$ an hour fighting a war for ten years. What a joke. I feel worse for the Iraqis and locals in Afghanistan. They didn't ask for robots to invade their country. Eating dirt and sand all day just to get blown up by drones. Poor sons of bitches. Stuck in an Orson Scott Card novel and not even aware of it.

ms06v6

Curious case of CRED coins usage, is it really BREAD app

Context here: [Spoof on CRED](https://youtu.be/lGmwMHsii04) Note: This post might seem like bit of rant. But I want to know from fellow CRED users if they have been able to use the coins to anything meaningful apart from cashback. I have been using CRED app for almost 2 years now. Till this day I found cashback is the only worthwhile feature. Apart from the miniscule cashback I haven't used my coins on any other rewards. None of the feature rewards offers excite me, as almost all products listed are available at cheaper price directly in market. Imagine sitting with more than 10 lakh worthless coins, it's frustrating to say the least. The MagicPin Vijay Raaz spoof youtube advertisement exposes this aspect of CRED. Edit 27-Apr-2021 : As shared by few here, let's burn all CRED points to contribute to oxygen delivery by Milaap. Hope it reaches properly to the needy.

IndiaInvestments

It was useful only when it launched. I got a couple of free T-shirts, a deck of playing cards, a pack of coffee and tickets to a Russell Peters comedy show for free. Since last year, it's been pretty useless. Last month I used all of my coins (around \~5L or so) in purchasing raffle tickets (I think it was for an Apple Watch or iPhone). Obviously I didn't win, so I uninstalled the app with almost nil coin balance.

cwlknn

A tip for the lurkers and commenters here: Go to /personalfinance if you want to be a judgmental prick about money and people’s problems instead of in a POVERTY sub.

Like what is wrong with some of these people?? The vast majority of people who use this sub is specifically because they are POOR/STRUGGLING. We post here for advice, tips, and support. We don’t post here so we can get X amount of comments from judgmental assholes who say over and over, “Just get a job” “sounds like you’re the problem” “get over it” “this is your fault” “work harder” “How is this possible for you to be poor??” ”Just move, I don’t see the issue.” Let me tell you something, because I think I speak for most of us. I work beyond full time. I work side jobs in my free time, including on my lunch breaks everyday. My circumstances are *none* of your business, but my circumstances are still valid. Everyone’s are, especially if they’re making an effort to escape them. I was born into a very lower class family, my parents were from poor families. Most of us born into this are already off on the wrong foot. Poverty is a vicious cycle most of us are all fighting like hell to break and get out of. It takes time. It takes effort, which again, the vast majority of us are giving that full effort. We are **trying**, we really are, but living in/coming out of poverty is fucking *hard.* Not to mention that our society does not make escaping poverty easy. It costs money to move. It costs money to learn a trade, go to school, go to the doctor, get mental health help. While of course, it’s not impossible (we know this), so many people act like escaping poverty is a quick fix. This is untrue. To add to that, there are different tiers to poverty. Some people are born into it, others fall on incredibly hard times, some people get fucked over by their families or loved ones (eg: taking loans out in our names, ruining credit, stealing our money, etc etc), some people are disabled, some people just make mistakes, learn from them, and are trying to pick up the pieces. And the sad fact is ~~some~~ many people, despite working hard which so many of you claim we don’t do, are only one or two paychecks away from poverty, just barely staying afloat, and doing all they can. It. Happens. Maybe not to you - and congratulations to you all - but it happens to people every single day. We are living it. It’s literally all around you. We are still human. I’ll repeat that: **we are still human.** Some days, we just really need to vent. That’s all. It doesn’t mean we aren’t trying. But working hard, trying to be strong, dealing with the stress, it all gets to you. That’s part of the whole “being human” thing. It’s a heavy weight to carry. That’s what, in my opinion, this sub is for. Being able to relate and hear others out, and offer advice, it’s what helps people continue to push through when they feel like giving up, and makes the weight a liiiiiittle less heavy. You don’t get to call someone lazy, make general shitty judgments and overall rude assuming comments about how they got where they are nor why they’re where they are now, when the *only* thing you know about their lives is exactly what is posted here. So if you’re the type of person to judge and criticize those on this sub who seek out advice or just want to vent, maybe step away from the screens and take a good hard look at yourself. Reflect on your poor character and be better. Having some perspective will make life a little less miserable for you, and maybe you’ll gain a little empathy. We may be struggling, but at least we treat others with respect. Because for a lot of us, who we are and our determination to live better lives despite any circumstances and the holier-than-thou ignorant bullshit around us is almost all we have. The last thing we need is to be kicked while we’re down. We won’t stand for it. I know I won’t. Not anymore. Edit: and to those who have dealt with this and/or are just struggling right now, I hear you. I see you. You are more than your circumstance, and you’ll get through this. Keep fighting the good fight and vent when you need to. Better days are coming! And of course you will always have people who victimize, or just won’t help themselves or don’t take accountability (it still doesn’t justify insulting and degrading them, but I know there are people who need to recognize certain issues when they’re in their own way). But just speaking generally, being in a bad financial position doesn’t mean you aren’t trying. Everyone is different, what works for some doesn’t work for others. Just...be freaking nice to people? Offer constructive advice? Or just don’t say anything at all if it’s nothing good or necessary.

povertyfinance

My biggest issue with /r/personalfinance is when someone posts about making a financial mistake that they explicitly state they are aware is a mistake (most typically a bad car loan), half the replies are sarcastically shitting on the OP for being dumb enough to make the mistake in the first place, with no other helpful advice. It feels like a lot of the people commenting are there to feel superior to others for being smarter rather than actually being helpful.

lmgdm6

Premarket Thread for General Trading and Plans for Friday, February 19, 2021

Your markets are run by bots. Now your daily threads are too. ​ This thread is for plans and thoughts prior to the market open period. ​ Posts relating to the "Is /r/ASX_bets about finance or effect your mental health?" etc will lead to a ban of the mods chosing. [You have been warned](https://www.reddit.com/r/ASX_Bets/comments/l0l9et/the_does_asx_bets_effect_your_finances_emotions/?utm_medium=android_app&utm_source=share). Last ban length: 131072 days ​ [We have an active official/unofficial discord. It's open to all discussions, stonks related and non-stonks related](https://discord.gg/2sQBNuM).

ASX_Bets

I think my trading strategy is best described as "WW1 trench warfare"... I've sent multiple waves of my available cash reserves into no man's land, only to have the market mow it down. I've had some gains, but it seems to be coming at a mounting cost and winter is setting in. My only solution is to send more over the top. God speed into that dark and terrible night cash reserves.

n2bdsn

Just hit $3.2M in net worth today

41yo single male - just hit $3.2M in net worth today. Honestly, none of it was by design - kind of fell into it. A lot of it came from tech - and I was only able to benefit because I very randomly became connected to a group of people who pulled me along with them. I'm pretty good at my job, but I try not to kid myself that that's the only driver. I've gotten where I have through luck and the kindness of others. I do my best to try and pay that forward. Looking back on it all, the key is to be a good egg. It's important to be smart and good at your job -- it's just as important to be kind. That's what allows you to build relationships that create opportunities. It's all just very, very humbling.... still trying to process.... ​ \---------------------------------------------------------------------------------------------------------------------------------------------------- **Age 29 (moved to US to do an MBA at Wharton):** * I moved to the US about 11 years ago - at the height of the financial crisis - to attend business school (MBA at Wharton). * Could not afford it by myself - my starting salary in a 3rd World country was $7K/year, although I'd built it up to $40K/year over an 8-year period. * Wharton gave me a 40% scholarship and then I basically cashed in all my savings ($50K) and took a loan in order to afford it. * Was fortunate enough to get a job offer that sponsored my H-1B (work visa). ​ **Age 31 (graduated Wharton, joined McKinsey): -$80K net worth due to school debt.** * Was able to land a job at McKinsey & Company -- starting salary of $120K * Based out of Atlanta -- unlike my colleagues in NYC or SF, able to save 50% of my after-tax salary with low rent etc. When on projects, we expensed meals and stuff - so never spent the bulk of my salary beyond loan repayments. * Maxed out retirement contributions to a proprietary McKinsey fund, although I mostly just invested in US equities using index funds * Didn't really invest in shares beyond S&P 500 index funds because of McKinsey restrictions on trading shares (it was possible, but just complicated) ​ **Age 35 (left McKinsey, went to an SF non-profit):** **$400K net worth** * Net worth mostly from the retirement funds, the balance was in selected shares (US equities) * Eventually received my green card sponsored by McKinsey - and was like "Adios!" * Decided to do more non-profit work and joined tech non-profit in the SF Bay Area. Took a 33% paycut as well as the increase in cost of living -- my rent basically doubled from $1.6K/month in Atlanta to $3.2K/month in SF). Did not regret it. * Decided I wanted to eventually buy an apartment in SF and spent two years saving - also made the decision to not invest in my 401(k) at the non-profit (and forego the match) - in order to save about $200K for a downpayment. ​ **Age 37 (left non-profit, bought an apartment, moved to for-profit tech):** **$500K in net worth** * Bought a small apartment in SF - extremely cash poor. Decided to take my time furnishing it -- took about 3 years because I didn't want to take on any debt. Had to borrow a little bit from family to finish buying the apartment - paid them back in two years. Mortgage was about $550K. * Left non-profit for a tech for-profit company. Was recruited by a friend from the original non-profit at a Director level. Salary went up to $180K with about $40-50K in RSUs. * I'd spend about $5K/month on living expenses (mortgage, HOA, food, etc.) - and save the rest (after paying back family for down payment help). I'd save about $2-3K /month - and invested heavily in cloud computing stocks. (Reference the Bessemer Venture Partners index for info there.) * Also re-started investing in my 401(k) with matching, took advantage of ESOS and other schemes. ​ **Age 38 (acquisition by another tech company): $800K in net worth** * Our company got acquired in an all-stock deal -- the acquiring company's shares became like a rocket ship and jumped up 3-4x * Salary was $220K, so was saving as much as I could (apart from some family support that I'd send back home -- as my dad was getting older) -- but most of the increase in net worth came from equity (about an additional $400K/year in RSUs) * Apartment also added about $100K in value over price appreciation * Personal expenses hadn't really changed - apart from food and the occasional travel, it was a pretty simple life. I like to read and since public libraries have online book collections.... my Amazon expenses have gone way down... * Gave sister $50K for a downpayment for an apartment. I sold some equity to do it - swallowed the tax bill. ​ **Age 40 (poached to 3rd tech company): $1.2M in net worth** * Some friends at the original tech company that got acquired became the C-suite at another company... their mandate was to take the company public * They poached me - and offered comp of $275K and equity but obviously no guarantees that it would amount to anything * It was a leap of faith - I was turning down this known rocket ship at the 2nd tech company where I was highly valued and that I know would have delivered about $2-3M in equity over 3 years. But I trusted my friends and decided to join them. * Personal expenses hadn't really changed * Because COVID had hit - I gave my brother $50K in family support, but otherwise saving the rest of my salary. ​ **Age 41 (IPO): $3.2M in net worth** * About 1 year later, we actually did IPO! Ton of work to get it IPO ready, and very proud of our team. * Ironically enough, we IPO'd before I hit my 1-year cliff - just hit it 2 days ago and had $2M in equity (mix of ISOs and double-triggered RSUs) transfer to my account. * No real change to expenses - and because of tax and insider trading implications I can't liquidate it just yet. ​ **What happens next?** * I still have 3 more years to go with the company - if I hold on then that's another $2M/year in equity (lots of assumptions are embedded into that) * Eventually, I'll have to decide when to get off the hedonic hamster wheel. Depending on share price - will happen over the next 1-3 years. I don't exactly have a retirement number but somewhere between $5M - 10M? * It's a little surreal, but I've had to appoint wealth advisors and accountants (no more TurboTax!) to manage my investment portfolio and taxes. * I'm conscious of avoiding lifestyle creep - I'll probably sell my apartment and buy a single-family home in SF (allocating $1.5M-2.5M for it) - but apart from that will have a very simple life. Focus will be on health and wellness, spending time with my loved ones, maybe settling down with a partner, and going back to more mission-driven work.

fatFIRE

Finishing my MBA at a top school right now... Congrats, this is amazing. Would stay another 3 more years if I were you. 2M/ year is a lot... you'll fatfire with nearly 10 million by 45. Maybe you could find a partner with a similar net worth (self made or inheritance?) and double down! Assuming you live till 90, you'll have 45 years to retire/enjoy and not worry about running out of money. Hoping I have a similar trajectory. Mind if I PM you?

feqxwb

This subreddit should be called debt free congratulate me, not poverty finance. So sick of it, finally unsubscribed.

Actual legitimate questions or tips? A few upvotes. "Finally paid off x?" Hundreds or thousands. This is not what I signed up for. Edit: comments have since suggested r/helpmeimpoor for actionable advice and r/debtfree for more bragging posts. Edit again: I have received several comments implying that the reason I'm upset is because I am in debt, which is a fair assumption tbh, but I am actually not in debt, just frustrated with the repetitiveness.

povertyfinance

Maybe if they made a day or a mega thread secifically for those types of posts on like a Friday it would also get rid of the spam. I agree, I'm very glad these people are getting out of debt but not really the content I'm looking for.

hhtttl

just turned 17 four days ago.

I have $6,035 dollars and I just turned 17 a few days ago, I've been busting my ass without a dad in my life my mom gets paid child support just to not have a job and takes care of her other kids whose dad is a bum and doesn't pay child support but yet they all live off of my dads money which is suppose to come to me but I don't get a cent out of it. I work six days a week and earned a manager position at my job, I've held this job for two solid years. Just thought I would post to kinda vent and maybe receive some praise for the things ive been through and done, seems like nobody gives a fuck about me. How are other guys my age doing? how much money do yall have saved up? ​ edit: I don't live with my mom, I live with my grandparents who she also lives with currently.

Money

Hey bro, I'm so incredibly proud of you. You are doing amazing, and it's remarkable how independent you are! Your hard work is definitely going to pay off now and especially in the future. I *absolutely* give a fuck about you, and we're in this together! Just turned 19 and I'm pretty much working 3 jobs to pay for college b/c my parents didn't leave me shit. You inspire me, and I wish you the best in everything! You got this bro

xvcjhy

Would buying a £28000 car be really stupid in my situation?

Would appreciate it if anyone could give any advice based on the information below, and I know already most of the answers will be "Yes it is stupid!", but bare with me. **Age:** 28 **Total Savings**: £85000 (including £50000 in Premium Bonds) **Living Situation:** My family home (pay £200 p/m for utility bills) **Income:** Earned £85000 (£59000 take home) in salary since April **Occupation:** Self-Employed (so it is hard to forecast my actual earnings for this financial year) and means I am at risk of earning nothing if business goes badly. **Miles Per Year:** 6000 I want a Ford Mustang (dream car), especially given it might be my only chance to own one whilst I am single. I was initially saving for a big house deposit. But now I am planning to continue living and saving whilst living at my Dad's house for the next 2-3 years. My mum has recently passed away and he wants to downsize, so I want to help him with this process and keep him company. Owning a Mustang would cost me about £1600 more per year to run for maintenance, car tax, insurance and petrol. After 5 years it will probably depreciate by £8000-£10000 based on my annual mileage. With my mum passing away, I am really looking for anything that will make me feel more excited about life - it is going to be a difficult couple of years. I've also never really treated myself to anything before, having always been a relatively frugal spender. But is that a good or dangerous reason to spend so much on a car? Ultimately, I know it is reckless but at the same time I feel like it is just what I need right now even just for a couple of years.

UKPersonalFinance

Hire one for a month and then think it over. If after a month you absolutely adore the car and can say without a doubt it will make your life that more pleasurable then go for it. If you drive it for a month and get that initial thrill out your system maybe you will know it’s not the right purchase. You could even just hire a different car each month so you can experience a range of vehicles and maybe that would be more of a kick than having one car.

9xvocx

Entrepreneurshop ecosystem

On this platform, there will be 2 (two) consumer financial management menus, including: A passive balance of "ESO cash": ESO cash is a fiat currency that is valid in that country can legally be used for various transactions and protected by law; Active "Cryptocurrency" balance: Active balance is a balance that has a fixed value at all times (the amount will always change according to the price of the digital asset (cryptocurrency) that the user has and the user can manage all of his financial or digital asset (cryptocurrency) investments. In this platform, users can quickly buy cryptocurrency for future investment of users and sell assets instantly when they need funds. Also, users can top up ESO cash at any merchant that has collaborated with ESO and users can make electricity payments, purchase credit, order train tickets, planes etc. "Payment" feature ESO payments are e-money or cryptocurrency payment features that can be used to make various types of payments such as payment of electricity, PDAMs, health insurance, online shopping. Not only that, but users can also buy credit, tickets, etc.

crypto_currency

ESO Pay is a payment gateway such as skrill, PayPal etc. In the e-money world where you will be able to easily make transacons directly in the mini market, withdraw cash at merchants who work with ESO just by aaching ESO UGW.

9xvocx

Entrepreneurshop ecosystem

On this platform, there will be 2 (two) consumer financial management menus, including: A passive balance of "ESO cash": ESO cash is a fiat currency that is valid in that country can legally be used for various transactions and protected by law; Active "Cryptocurrency" balance: Active balance is a balance that has a fixed value at all times (the amount will always change according to the price of the digital asset (cryptocurrency) that the user has and the user can manage all of his financial or digital asset (cryptocurrency) investments. In this platform, users can quickly buy cryptocurrency for future investment of users and sell assets instantly when they need funds. Also, users can top up ESO cash at any merchant that has collaborated with ESO and users can make electricity payments, purchase credit, order train tickets, planes etc. "Payment" feature ESO payments are e-money or cryptocurrency payment features that can be used to make various types of payments such as payment of electricity, PDAMs, health insurance, online shopping. Not only that, but users can also buy credit, tickets, etc.

crypto_currency

In connection with what we have discussed before we are challenged to participate in e- commerce development through the "ESO wallet application". ESO Wallet is a crypto-e-money nancial plaVorm that will facilitate cryptocurrency users to conduct transactions where cannot use cryptocurrency as a payment instrument in several jurisdictions.

ia7k24

Is there an actual "smart way" to tax the rich?

All jokes aside, have economists provided a "smart" and **just** way to tax rich individuals ? Media is talking about taxing rich billionaires, but most of them have their wealth in stocks. Say you tax them when their wealth increases (i.e stock goes up) if you don't give them tax credits when their stock goes down, this would lack any form of justice.

AskEconomics

There's a lot of debate over optimal taxation, how to reduce inequality, etc. A 2011 [paper](https://www.aeaweb.org/articles?id=10.1257/jep.25.4.165) in the *Journal of Economic Perspectives,* authored by Peter Diamond and Emmanuel Saez, makes this series of recommendations: >First, very high earners should be subject to high and rising marginal tax rates on earnings. Second, low-income families should be encouraged to work with earnings subsidies, which should then be phased-out with high implicit marginal tax rates. Third, capital income should be taxed. Where exactly the top marginal rate should be set is a matter of dispute. A 2014 [paper](https://eml.berkeley.edu/~saez/piketty-saez-stantchevaAEJ14.pdf) in the *American Economic Journal: Economic Policy,* authored by Piketty, Saez, and Stantcheva, recommends a top rate of 71%, while Christina and David Romer from UC Berkeley have [recommended](http://ceg.berkeley.edu/research_117_2123314150.pdf) a top rate of over 80%. In addition, we have to think about taxing wealth. In a [paper](https://www.brookings.edu/bpea-articles/progressive-wealth-taxation/) for the Brookings Institution, Saez and Zucman (both from UC Berkeley) talk about the best way to implement a wealth tax in the US, which could potentially raise a great deal of revenue and substantially reduce inequality. Of course, we then have to deal with issues like avoidance, which has been an issue with previous wealth taxes in other countries. As for the question of justice, that's more of a moral and philosophical question than an economic one. Many people see reducing inequality as more just, and so would advocate those policies. You may advocate different ones.

wintzg

If you could only own one stock for the rest of your life, which would you choose and why?

At first I thought about asking what your favorite value stock is, but then I decided that the word “favorite” implies some kind of emotional attachment, which is not what I’m interested in. I’m interested in hearing about your #1 go-to, rock-solid, buy-and-hold company. What do you like about it? In your opinion, what makes it stand out from the rest of your portfolio? How long have you been holding? etc. EDIT: To clarify, I am asking specifically about individual stocks—not any diversified securities like ETFs, mutual funds, etc. Thanks everyone for the great answers so far!

ValueInvesting

Berkshire Hathaway. Collection of excellent businesses, with an advantageous structure (float from insurance), led by one of the best and most honest capital allocators (WEB). Have owned it for 12 years and have become more knowledgeable and comfortable understanding how it operates (from first principles to actual decision making under different economic/market conditions). Will it top charts as a constant outperformer? No. Will it help preserve money and grow it steadily? Yes.

f7vzct

Why are teenagers making tons of money on r/wallstreetbets while almost everyone at r/trading, r/daytrading, r/forex, r/algotrading seems to be loosing money?

I'd just like to begin by saying that I'm not a real trader. I've only been trading for a year and most of it on a paper money account and a $500 test account that I almost blew up. I'm still not profitable and I have a long way to go. I've only been trading a few stocks and a few forex pairs, so I have no experience with options, hell, I don't even understand how options work (I haven't done any extensive research yet), but I see that a lot of people on r/wallstreetbets are making tons of money trading options. Are options a magical money printing machine? Are they really good with technical and fundamental analysis? Why is it that almost every trader looses money while they are making tons of money? I hope this doesn't get downvoted, I'm really curious as to why this seems to be the case. I just want to become a good and serious trader, I'm just beginning this journey and I know I have a long road ahead.

Trading

Selection bias / purpose of the subs. WSB attracts Robinhood glamour shots and yolo traders swinging for the fences. So you'll see the one person out of a thousand who made it and won't see the 99.99% that didn't. The trading subs generally attract people looking to make a career out of it and trying to fix what's broken in their strategies, hence lots of losing is what's shown.

l528pz

GME EndGame part 3: A new opponent enters the ring

Wow - what a week. This is an extension of my DD series on GME. If you haven’t read them and have time, they will provide some background on my previous predictions, some of which have already come true. # Previous Important Posts * [EndGame Part 1](https://www.reddit.com/r/wallstreetbets/comments/kwb827/gme_endgame_dtc_infinity/) (DTC Infinity) covered the short positions, the float, and potential snowball impacts of increasing prices, and argued that part of the reason that shorts haven’t closed was that it was pretty much impossible for shorts to close * [EndGame Part 2](https://www.reddit.com/r/wallstreetbets/comments/l0czgs/gme_endgame_part_2_cohen_market_cap_potential/) covered Cohen, fair market cap analysis, and potential investors, in which I talked about the amazing mid-to-long term potential for GME. * After the Citron tweet, I shared this [fan fiction on what looked like blatant market manipulation by shorts](https://www.reddit.com/r/wallstreetbets/comments/l1tg88/gme_how_shorts_manipulated_you_and_how_you_can_be/) on the day of the tweet, and offered some education on strengthening your position. This one got buried and is worth reading. # What’s happened thus far ## Why did GME go up on Friday? The story here is more complex than paid media articles would like you to believe. GME has been driven up by 3 different forces: * Organic buying * There is a mixture of growing positive sentiment in the investor world (not just WSB) about GME’s future * There’s been a lot of good due diligence shared not just on WSB but even outside (for example, see gmedd.com) * The Citron Backfire * Shorts were on the ropes and kept looking for hail mary’s. They went to Citron and [coordinated a dump](https://www.reddit.com/r/wallstreetbets/comments/l1tg88/gme_how_shorts_manipulated_you_and_how_you_can_be/) to try to bring the price down. * However, this backfired. Citron is so disliked in the industry that new wealth poured into GME in the face of Andrew Left’s pleas. Even when Benzinga brought Andrew Left on air, **minutes after he left** [they bought shares live on their show](https://youtu.be/mFiFWBrE5DE?t=5104)**.** * The next day, our very on u/Uberkikz11 [was on Benzinga](https://youtu.be/GLzTU87MJMM?t=837) and more shares were bought. * Larger investors piling in * In my [EndGame Part 2](https://www.reddit.com/r/wallstreetbets/comments/l0czgs/gme_endgame_part_2_cohen_market_cap_potential/), I hypothesized that we’d soon see larger investors pile in. Then, on WSB, we saw posts from a [venture capitalist](https://www.reddit.com/r/wallstreetbets/comments/l0yzb5/a_venture_capital_perspective_on_gme/) as well as a [hedge fund investor](https://www.reddit.com/r/wallstreetbets/comments/l2zk5e/a_hedge_fund_managers_perspective_on_gme/) * Gamma squeeze * Once the organic buying started, we rolled into a gamma squeeze. Many people written about the gamma squeeze so I won’t repeat, see [this post](https://www.reddit.com/r/wallstreetbets/comments/l2t9bf/gme_i_think_this_is_a_gamma_squeeze_where_dealers/) for an example. * Ultra low liquidity - In EndGame part 1, I talked about how the actual actively traded shares are much lower than the reported float, and **share availability has been reducing** driven by lots of diamond hands, not just among smaller guys like us but the larger folks too. * I believe there were some short covers on Friday, but Ortex was still estimating 71M shares short at the eod. However, not many people have talked about why it **went down** ## Why did GME come down? Here’s where things got interesting for me, and something I think happened again today (Monday) when GME climbed up over 100% but then had a rapid reversal, closing 20% above yesterday but closing below open. So Friday looked like a slam dunk - gamma squeeze, no shorts available to short, puts were getting exceedingly expensive as a short tactic. What happened? This is my fan fiction, based on what I saw. **I believe** [**market-makers**](https://www.nyse.com/markets/nyse/membership) **took a non-neutral stance and began actively shorting the stock after the second halt.** Market-makers are responsible for maintaining liquidity and functioning in the stock market, but they also have abilities that others don’t - for example they are legally allowed to naked short for “liquidity purposes”. They also have the ability to halt trading. There were two halts in the day on Friday: First, when GME was up 69% (heh heh), and then a few minutes later when it kept climbing after the first halt was relaxed. Note that at the time of the first halt, the **bid-ask spread was $10 on the underlying** a huge signal that there just were not enough shares to buy. However, after the second halt, something strange happened. Whereas a few minutes prior, there were no sellers willing to sell their shares below $75, **within 15 minutes** after the halt there were sellers at 70, 65, 60, and 56. Where did these sellers come from? ​ [Incredible momentum reversal on Friday 1\/22 to push the price not too far above the 60c strike price. ](https://preview.redd.it/tt5zodp6pkd61.png?width=704&format=png&auto=webp&s=fa22980543213227bf5b3d17166129ac6cb65a65) My speculation? This was a coordinated **naked short ladder attack**. In this type of attack, short seller A sells to short seller B, who then turns around to short seller A at a lower price, etc. and with a **very small amount of capital** you can wreck the momentum of a stock and make people think that others are running for the exits. Notice how the stock dropped from a high of $75 on Friday to below 60 - the highest expiring SP for the 1/22 options, and stayed tight in range for the rest of the day. Now, for compliance reasons, MM are required to be neutral by EOD, so 20 minutes before close, MMs had to buy back all their short positions, which led to the strong close above 60. All this led me to believe that the **real fair market price for GME was above $65.** Without the market makers interference, GME would have closed higher. ## A repeat on Monday The short ladder attack repeated on Monday. GME opened strong above $90, and quickly climbed to **a high above $155** before it was halted, immediately after the halt, a **short ladder attack again** drove the price down ​ [Dejavu - Incredible Momentum Reversal after trading halts. ](https://preview.redd.it/qm81rd0dpkd61.png?width=637&format=png&auto=webp&s=4b4563e7dd2e626fb09dca69668c24631932e707) Both days, there **were rapid and significant reversals in momentum.** Now, I kept wondering - why would MM’s take the side of the shorts? What’s in it for them? One theory was that they were not adequately hedged, with the low liquidity of the stock meaning that the price was moving up too fast for them to acquire the shares they needed to. But then the news hit today: # A new opponent enters the ring: ​ https://preview.redd.it/8htb0scgpkd61.png?width=926&format=png&auto=webp&s=228a8a84e592ea4642a61c5e07e07ae344ac8f2c That’s right, the **same Citadel** [**listed by the NYSE as one of their designated market makers**](https://www.nyse.com/markets/nyse/membership) is now invested in Melvin’s hedge fund and has a financial interest in the direction of GME’s share price. **Hey media - you want a manipulation story? You’re missing the big one.** # Now what? Shorts have pulled new dirty tactics each time they’ve been pushed to the edge. Paid media attacks, Citron’s fluff tweet + coordinated shorting, and now they’ve got the **actual people who get all the order flow on their side.** On the other hand, GME is still up over 20% and now trading at $88.00 after hours, which is well above the previous day’s high. ​ https://preview.redd.it/rr5qet4ipkd61.png?width=724&format=png&auto=webp&s=96d28bf446a714906712503726f5903a681d5368 What this tells me is that GME’s **true price is still being suppressed**. They are using every tactic possible, even changing the [bid-ask spread rules](https://thefly.com/permalinks/entry.php/id3233043/GME;IRBT-NYSE-changes-bidask-differentials-on-options-for-GameStop-iRobot) on options to specifically target retail’s buying of options. We’re now playing the game against the folks who write the rules of the game. Some shorts may have covered today - with prices below $60 at one point they had some great opportunities to. However, there is **no way all of the shorts who need to exit covered today.** The short position still lost 20% from yesterday. They’ve got more fingers in the dam, but it’s definitely cracking. Also, **every call option purchased prior to 1/25 is ITM and profitable,** while **every put option purchased prior to 1/25 is OTM.** And, for some reason, the SEC still doesn’t want to enforce the threshold securities list for GME, where it’s now **been on for more than 30 days in a highly covered “short squeeze”.** ​ https://preview.redd.it/rbrf6khjpkd61.png?width=936&format=png&auto=webp&s=7e4f432ff02dbf475a03cc68c54a5a0f5f0de429 # Margin impacts: Note that at this point, most brokers have increased margin on GME. This means that people that are long or short on margin will need to put up capital to hold their positions. This also means **puts will get more expensive** as people who sell puts will have to maintain 100% of the notional in their accounts to secure the put, so MMs will have fewer retail sellers of puts to absorb the demand. That means it’s not a bad idea to sell puts to acquire shares if you’re aiming for the long-term and not the squeeze, but keep in mind you’ll need the exact same capital as if you’d bought the shares, so it’s up to you on this. For shorts, a margin increase while the price is moving against you (even with retracements) is no good. # My speculation * Cohen and the GME board have been strangely silent this entire run. It’s possible they can’t say anything at all during the pre-earnings quiet period, but I’m sure they can see what’s happening. * MMs will continue to play dirty, but at the same time they will need to continue to need to buy GME shares to delta hedge 1/29 and later ITM options as we get closer to expiry. # Things to be careful about As you can see, this is no easy win. I've been in GME for a few months but I've seen almost every trick in the book. In addition to the [suggestions I wrote about in this post](https://www.reddit.com/r/wallstreetbets/comments/l1tg88/gme_how_shorts_manipulated_you_and_how_you_can_be/), here’s some things to be careful about. * **Be careful about swapping ITM calls for OTM calls:** it can be tempting to trade-up your options for higher return, but be mindful of the delta impact. You may actually be driving the sale of shares by MMs when you don’t mean to. For example, if you sell a .5 delta call for 2 .2 delta calls, that’s net reduction of 10 shares that MMs have to hold long as leverage. * **Be careful about being short any calls this week:** Not only do you limit your upside (which is dumb in the prospect of a squeeze), you could end up in a nightmare scenario. A call that ends OTM on Friday could end up ITM after hours if you didn’t sell it, and you may get assigned while the underlying continues to go up. * **There are a few other dirty tactics shorts can play.** I’m not specifically going to share them here because I don’t want to give the ideas circulation, but * **Choose your own limit sells based on personal sell points.** Don’t copy others and don’t try to be memey. Make your own decisions. * **Stop sharing your positions publicly.** I know this is anti-wsb, and I think sharing them is great for this community, but in the case of GME it’s an **attack vector** for you. * **Be careful of holding weeklies until expiration.** Remember the multiple trading halts? What if trading gets halted on Friday at 2pm and doesn’t resume for the rest of the day? **All your 1/29 calls would expire worthless. Depending on your broker and your cash positions, maybe even your ITM ones.** Roll (or sell, if you’re taking profits) your weeklies well before expiration. * **Be careful about buying on margin.** Brokers are rapidly increasing margins. If you bought on margin with 2:1 leverage, and the stock went up 100%, you’d be in margin call even without a margin change. If the broker moves margin against you, you’ll get to margin call faster. * **Don’t bet more than you can afford to lose.** I’ve been in GME long enough to know that just when you think going up is a sure thing (remember last Monday with the short sale restriction?), you can be surprised by a new trick. If you bet it all on weeklies all at once, you may not be able to recover from being wrong on the timing. Consider longer expiry or spreading your purchases out. I’ve held through multiple 30-40% drawdowns in the underlying; and **held through a 50% drawdown today**, so you need to be ready for the volatility. * **Watch out for stop loss hunts.** It’s common practice for shorts to hunt for stop losses for cheap shares. If you’ve set a stop loss, be really sure about it. This is not financial advice; do your own DD. I’m holding over $1M in shares and calls. # 1/26 Update Hi everyone. Sorry for not posting or replying to comments. I was auto-banned from WSB when this post was auto-deleted by the auto-mod. Thanks to u/zjz to reversing the auto-deletion of the post though as it looked like it was helpful to the community. Hope you all made a ton of money today! **Quick Notes:** * At an after-hours price of **$209 a share**, **every call option, for every expiry, for every strike price is in-the-money. This is the third time this has happened for GME recently.** Amazing. What this means now is that market makers will need to buy a lot of shares to hedge for the calls expiring this week. Heed my above warnings. * At this price, shorts **will start to get liquidated.** Combining the 400% weekly gain with the margin requirements increasing across the board, brokers will force close short positions. Starting maybe with the small guys, but it will cause a ripple effect. **Things could move fast.** Some funds may get additional bailouts this week to hold out. * **You need to decide your own exit.** Only you know how much $ you're playing with, how much you're willing to lose, how important the $ is to you, etc. **Minimize you're regret, don't maximize your profits.** If you are thinking about taking profits this week, spread out your sells so you don't kick yourself over timing things poorly. Personally, I think we are in **unprecedented territory** and that there's no way all of the shorts have exited already, so we're not done. I could be wrong. See EndGame part 1. * **Close spreads.** With every call ITM, you are at the risk of early-assignment. If you don't watch closely, you could be hit with sky-high hard-to-borrow fees and get killed on what you thought was a profitable trade. * **Watch for ripple effects. This is already happening.** When funds get liquidated, they have to buy back all their other shorts (see AMC, BBBY) and sell their longs (look at BABA after-hours). Want to play GME without playing GME? Maybe throw a little $ at BBBY. You do you. * In EndGame Part 2, I talked about potential investors, and how the higher price is gonna attract the bigger $. Today we saw Chamath, Winklevoss, and others. And then Elon tweeted and simultaneously stimulated the buying frenzy and scared the crap out of shorts. I'm just gonna copy what I said about this potentiality * ***Elon****: (Least likely, completely improbable, but cataclysmic event). Elon hates shorts. Elon, with TSLA, went through the pain that GME is going through. TSLA almost went bankrupt because shorts were pushing the price down so it was difficult to raise the cash they needed to survive. Sound familiar?* ***Elon’s wealth swings more in a day than GME is worth in entirety.*** *Elon could* ***buy all the fucking float of GME with what he makes in 8 hours****. One call from fellow entrepreneur and* [*aspiring twitter-meme-god*](https://twitter.com/ryancohen) *would absolutely wreck the game.* 1. ***If you are short gamestop****, you are one meme purchase by the richest man in the world away from a fucking cataclysmic event. "Hey son, I heard you like games. So I bought you gamestop. All of it." 🚀* ​ ​

wallstreetbets

Bloomberg: Look at the damage retail is causing to our glorious stock market! ​ Retail: Here are strategies you can use to avoid being destroyed by the very real and constant manipulation tactics Wall Street will use to unfairly survive a horrible trade.

72d6fo

What am I supposed to do when my boss tells me I should "think about whether or not I want to be here" at my job?

I expressed some serious dissatisfaction recently in a comment on an "anonymous" employee survey at my job. My boss talked to us in a staff meeting about the results of the survey and expressed a lot of concern over "some comments" (mine) and encouraged us to talk to her about any issues we have because she felt uncomfortable not addressing the issues head-on. Feeling like it wouldn't be fair to just leave it hanging like that, I scheduled a meeting with her. In the meeting, we discussed my issues at length, which mostly have to do with the attitude of my immediate supervisor. But at the end she said to me pretty firmly, "I'm not trying to push you out, but I want you to take some time to think about whether or not you really want to be here. There are a lot of opportunities out there." The truth is, I do want to leave, but I've been applying to jobs for 6 months and have only gotten one interview, and they didn't even bother to send me a rejection letter. Seriously, no one will hire me. I have some savings, but I've been trying to keep that so that I can invest it and actually have something for retirement. I'm making under $40k at this job as it is. Is this a sign I should just up and quit my job without another one lined up? I'm so depressed. I guess I could move another city over and live with my parents again, but Jesus, I'm 28. And I just signed a new lease. Someone please tell me it gets better. EDIT: Thanks a million to everyone who replied with advice, messaged me to offer resume help and further tips, etc. I realized later that maybe I should have posted this in a career advice sub, but the response from everyone here has been so encouraging. Even the tough love, which I know is needed. Thank you so very much. EDIT 2: Yeah, I realize that some people don't think it's a good idea to honestly fill out an employee survey. I get it. But what's done is done, so telling me that I shouldn't ever do that isn't really helping here. EDIT 3: It's late in the game at this point but just FYI - I knew that they would know it was me who filled out the survey. It was painfully obvious. I didn't care because I was so angry and fed up when I filled it out. I wanted it to start a conversation.

personalfinance

I think it is a sign to pretend that you want to work it out with your boss and are coming in as a new person ready to go to bat for your company. And then spend literally all of your free time applying to new jobs both in your current city and elsewhere around the country. When a boss says that to their employee, they should take it as a sign a layoff is coming. But quitting now so you don't get laid off isn't really the best response when you can't shoulder it financially.

zwpxkq

Big Victory on Retirement Income in Omnibus Spending Bill

The omnibus spending bill included a surprise gift for workers: employers with 10+ workers are now required to put at least 3% of worker pay in a retirement fund each year of employment.

Economics

To be clear, this is mandating that 401k contributions are *opt out* instead of *opt in*. See the books Thinking Fast and Slow as well as Nudge for how choosing defaults can push people one direction or another. Importantly, this is not saying that employers must put in an additional 3% of pay into their 401ks. The contributions are the worker’s money.

fmradq

Landlord Dump

I currently have 4 rentals. One is a single mom who works at a bar. I reached out to her the day my state announced: "all bars to be closed for 30 days." I've avoided her messaging me awkwardly. She's been a good tenant, always paid on-time or earlier, and has updated the property by a few hundred bucks w/ improvements she can't take w/ her. I told her if she had the extra money she could pay, if not, then please keep her money and we could square up whenever she could. She told me she could pay half, I told her it was up to her, and I wouldn't press her until this stuff got sorted out, but I would be keeping accurate records. It's easy to be heartless in the REI game. But at the end of the day, treating people like you wanted to be treated usually ends well. Especially, when it's a good person and they aren't paying not cause they don't want to, but literally, because they can't. Anyway, there's my dump for the night. It's always the right thing to do the right thing. Maybe it bites me in the butt and I lose money. And maybe my reserves go crazy low, but I'll sleep well at night.

realestateinvesting

Good move. I believe people like your tenant will get the temporary help they need, but it won't be 100% of what they would make. I spoke with one of my tenants who is a bartender, he said he's good for now due to saving up but I told him to let me know.

6no7nu

Forbes: Employees who stay at a company for more than 2 years on average earn 50% less.

http://www.forbes.com/sites/cameronkeng/2014/06/22/employees-that-stay-in-companies-longer-than-2-years-get-paid-50-less/#454e629ee07f Companies need to get back to rewarding employees for their tenure. Until they do, don't reward companies with your loyalty. When you're worth more on the open market than your company will give you, they are doing you a disservice and you should make the best decision for your own future and go make what you're worth. The more people who do this, the more likely companies will be to change and allow us to stick around and be compensated for it. Millenials often started their careers in the recession, and have an inset fear of the job market because of it. They often walk around moping as if the economy is stuck in 2009, and it's not. The market is good right now, go test it.

personalfinance

I think this is true. I recently changed jobs from a job I was at for over four years and got a 20% raise. Companies, in my experience, don't care about employee retention. They just want you for as long as you will accept what they pay you and are happy to hire and train a replacement. Wow thank you for this gold! I was just about to quit Reddit but this is the retention bonus I needed to stay! Thank you!

lmh4an

One ETF to rule them all!

Ok here's the question: if you could only pick one ETF to hold your entire portfolio in and make regular contributions monthly and you had to hold it for 25 years. What would it be?

ETFs

VT. It is the total global stock market, and has had an average of 9% returns per year. The only way it goes down long term is if the apocalypse happens. About as safe as you can get when it comes to equities.

6vglme

PAID OFF MY HOUSE

My life changed because of one silly post that I came across on reddit. It was a pic of someone holding up their paper wallet from a bitcoin atm showing both public and private keys. The picture made me wonder if there were any nearby bitcoin atms, so I did a quick google search and found an atm 10 minutes away from me. I went to the atm and put in $20 just to say that I had some bitcoin. I signed up for /r/bitcoinbeginners and learned about Coinbase. After signing up with Coinbase, I started researching the "other" crypto being offered and learned about /r/ethtrader. I started buying eth at $11 and eventually invested 10% of my net worth in crypto. I stuck with eth when it rose above $400 and when it recently dipped below $200. This month I decided that I wanted to set a baseline on what I would get with my crypto investment. I sold enough eth and bitcoin to pay off the mortgage to my house and compensate for taxes. Today I went to the bank and turned in my final house payment. No matter what happens to crypto from here on out, I have a house. Paying off the house was never a goal for 2017. Hell, it wasn't even a goal for the next decade. Do I think eth will hit above $400 again? Yes, and it might happen tomorrow or next week. I've never doubted the technology. However, getting rid of my mortgage takes an immediate, priceless weight off my shoulders. I work in an industry where layoffs always seem to be on the horizon, and it's hard to get a job when everyone is out of a job. Now I don't have to worry about keeping a roof over my family's head. The relief is euphoric. I'm not completely off the crypto ride. I still have a good amount of eth left. I'm going to invest a small amount per month back into eth and bitcoin to slowly build my stockpile back up, but I'm not in any rush. I'd like to thank this sub as well as many others for all the knowledge, advice, and entertainment. Posting this on a throwaway account so I can continue to post questions on this sub (I probably made two posts here). tl;dr - Paid off my house with cryptocurrency gains. Financial freedom is awesome. Edited to add: I've been getting a lot of private messages asking for advice on how to get started with investing in crypto. The advice I give to all my friends is to start how I did and just buy $20 worth of bitcoin or ether. Think of $20 as payment for an intro lesson to crypto. I suggest Coinbase only because that's what I started with after the atm, and I thought it was pretty simple to understand. Once you have a small amount of crypto, download a wallet app and practice transferring the crypto from Coinbase to your wallet and back to Coinbase. Then just hold (hodl) the crypto and watch how it gains/loses value and check your risk tolerance, and don't invest more than you're willing to lose completely. Subscribe to the subs that you have your crypto in.

ethtrader

Congrats OP. Not sure where you're from, but I'm guessing you're going to be paying quite a bit of taxes in the upcoming year? Nonetheless though, having a hefty tax bill for 1 year is nothing compared to being tied to a mortgage for years and years to come.

wgvivu

A big, sincere "thank you" to American taxpayers

My wife and I have been on food stamps and Medicaid for over seven years. SNAP has been a lifesaver. It's not a perfect system, and there are hoops to jump through, but it has kept us fed when we would otherwise not have been able to feed ourselves. Then suddenly, last month, my wife needed major abdominal surgery to remove some tumors. We'd gone to the doctor a few times over the years, but we had never put our Medicaid coverage to the test. I have to say, the care she received was top drawer, the surgeon was amazing (the surgery was partially robotic!), and, best of all, we never saw a bill of any kind from the hospital and never made a single co-payment. So, to everyone who pays the taxes that make Medicaid possible, thank you! The next time you hem and haw about paying taxes because you imagine your money being wasted on unnecessary government spending, remember that there are ordinary folks out here who greatly benefit from those same dollars.

povertyfinance

Over the years I've made a lot of money and paid a shitload of taxes. I'm convinced there's an enormous amount of waste in government spending, but I don't begrudge OP and his wife a bit. In fact, I'm glad to hear something good came of those taxes.

94tkwy

4New’s kwatt tekonomics

KWATT Token currently is an ERC20, Ethereum based smart contract. Upon completion of the blockchain development, the token will be swapped to the KWATT Coin that will interact with our blockchain. The total coin offering is for three hundred million coins (300,000,000). Our first plant will launch with a capacity of generating 10 megawatts of power every hour. Upon seasoning the plant operations, our infrastructure will be able to increase output capacity to 40 megawatts per hour. 1 megawatt is equivalent to 1000 kilowatts. 1000 kilowatts powers approximately 650 households for one day. Peak or off-peak usage of the power at different times of the day can cause this average to deviate. The maximum annual output capacity of the plant is 346 million kilowatts per year. Due to maintenance and general down time for repairs to the plant, expected annual output capacity is estimated at 300 million kilowatts per year realistically. Each KWATT Coin embodies an annual supply of 1 kilowatt of electricity within it. A typical Waste to Energy plant depreciates to its salvage value over 50 years. Regular maintenance and upkeep will allow us to extend life beyond that. This means holder of KWATT Coin will be able to apply their energy to one of two places each year for the next 50 years. They can either sell their energy to the UK National Grid or they can choose to apply it towards 4NEW’s cryptocurrency mining farm. The price of 1 kilowatt for electricity is a very stable metric. Over the past 50 years, the global average retail price is approximately $0.15 USD per kilowatt, inflation adjusted. 4NEW will never authorize any additional coins issuance over and above the three hundred millions coins being launched in this initial coin offering. Therefore, any future growth in 4NEW plant sites will always rely on the supply of the coins being issued in this offering. Each year management will apply 35% of its net profits towards a reinvestment strategy to enable future development of plants. This will ensure longevity and scalability to 4NEW over a sustained period of time.4NEW Insiders and Founders will be restricted from selling any coins until January 1st, 2019. Any KWATT Coins not sold in the offering will be burned. For the avoidance of doubt, all burned coins will release the supply of the energy that was embodied within the coin, allowing that unencumbered energy to be freely sold to the UK national grid or applied towards the mining farm at management’s discretion. At the start of each year, KWATT Coin holders will be able to choose a desired application of their energy the coin holder owns as represented by the total amount of KWATT Coins in their control at the time of this election. Therefore, if the coin holders desire to sell their energy to the UK national grid then the respective option can be selected. Alternatively, if the coin holder were to select the mining farm then the energy will be applied to the mining farm. Any decisions not made within the allotted time frame at the start of each year, will leave the management the right to determine the allocation of the energy at its discretion.

crypto_currency

4NEW’s financial statements will be maintained at Zucker Forensics P.A. Zucker Forensics is a credentialed forensic accounting firm with a staff of U.S. Certified Public Accountants (CPAs). The team has over 35 years of forensic accounting experience and specializes in identifying fraudulent accounting practices.

tb3tbf

How can we prove if companies are raising prices disproportionately, but blaming it on inflation?

Thinking about human nature, I feel it is reasonable to assume some companies will take the news about inflation and use it to raise prices higher than actually needed, but blame inflation. How difficult is it to study financial statements and try to determine if they need to raise prices as much as they are? I know this is a fairly broad question, but I am hoping to get some insights. Thank you!

AskEconomics

Not very easily. What does it mean to raise prices higher than "needed"? If you just assume "inflation" is rising costs of inputs, it's relatively straightforward, given the data. Let's assume a company wants 2% profit, you just look at all the inputs, factor in the profit, and then you land at the "correct" price. But that's not really how any of this works, or at best half of it. Inflation happens primarily for two reasons, lower supply, or higher demand. Everything else being equal, higher demand means higher prices. That's just as "valid" as higher producer prices leading to higher consumer prices, and you can't figure that out from plain financial statements.

n7a63a

What would you do if you inherited 200,000 tomorrow?

I’m going to be inheriting around 200k in the next 5 years. I am a 22 year old Female, both of my parents are deceased - so I really don’t know much about financial planning, money, etc. just wanted some advice on how to handle this. I have $0 in my bank account right now and live paycheck to paycheck so this will be huge compared to the way I’m living currently. Thanks I’m advance guys.

FinancialPlanning

1) Pay off all high interest debt (All credit cards and personal loans. 2) Save up 3-6 months of expenses. This is highly dependent on how much you spend each month. 3) Treat yourself to one big purchase. Book a few thousand dollar vacation or something. 4) Put the rest in a broadly diversified index fund (Hopefully at least 150k)

x2909w

Does anyone else willingly pay the Medicare surcharge?

I'm a single man in my late 20s making 140k + super as a software developer. I can safely say I am extremely comfortable and privileged with my status in life. I don't need to go the extra mile to save money with a hospital cover. Furthermore I would rather my money go into Medicare and public sector (aka helping real people) than line the pockets of some health insurance executive. I explained this to some of my friends and they thought I was insane for thinking like this. Is there anyone else in a similar situation? Or is everyone above the threshold on private healthcare?

AusFinance

I happily pay it, the public system has saved my life on a few occasions. However I now have private health only for psychiatric care because public mental health facilities can be, well, terrifying.

mntcz3

Elon Musk Is Not One Of Us. Stop Using Him As a Role Model.

I’m tired of seeing him as a face of crypto in news. He is not one of us. He isn’t your average Joe. He is multi billionaire, one of the richest guys in the world. He doesn’t care about you, about me, about mine or your family. All he cares it’s his ego and his companies. Lately, we’ve seen a lot of hate towards Mark Zuckerberg from Facebook. Is sweet Elon Musk different? Maybe he isn’t lizardy as Marky is, because he is skrull from Mars. Is Elon any different compared to Mark? Both of them are shilling their own companies, Tesla isn’t different. Just because he offers you to buy Tesla with BTC, it doesn’t mean that he is on your side. He isn’t helping you, he is helping himself. While you’re laughing at him shilling DOGE, he is laughing at you how is he manipulating you. He is not helping crypto, he is hurting it. He isn’t same as you or me, he doesn’t have to save money for food, he doesn’t have the count if he has enough for dinner. He isn’t on your side, every one of the billionaires are trying to manipulate as much people as they can, to make them believe in theirs own visions and dreams. Just because he pumped your coin, it doesn’t mean that he is your lovely neighbour. Elon shouldn’t be used as a model for crypto. Just because he was on Joe Rogan podcast, it isn’t making him a proper role model. Stop giving him any reputation when it comes to crypto, this guy just shilled a shitcoin and thousands of people falls for it.

CryptoCurrency

Those are some very general statements for someone you don’t actually know... It’s very evident that the guy has greater motives than just his ego. Sounds like you have a personal vendetta against the ultra-wealthy.

txo4kd

I want to become literate in Economics as a layman: Where and how to start?

...And how to proceed later? I don't pretend to ever become an academic, I just want to know enough about the science so I, an average Joe with a 48 hour a week work schedule, cannot be easily deceived by either politicians, ideologues or scammers.

AskEconomics

Sadly there is no real easy way to become decently proficient. There are plenty of traps even relatively "experienced amateurs" can fall into pretty easily. Getting a robust understanding of economics takes years of work simply because there's kind of a lot you need to know and understand. Anyway, that doesn't mean you can't get better! Check out our reading list for some beginner friendly resources. https://www.reddit.com/r/Economics/wiki/reading

mntcz3

Elon Musk Is Not One Of Us. Stop Using Him As a Role Model.

I’m tired of seeing him as a face of crypto in news. He is not one of us. He isn’t your average Joe. He is multi billionaire, one of the richest guys in the world. He doesn’t care about you, about me, about mine or your family. All he cares it’s his ego and his companies. Lately, we’ve seen a lot of hate towards Mark Zuckerberg from Facebook. Is sweet Elon Musk different? Maybe he isn’t lizardy as Marky is, because he is skrull from Mars. Is Elon any different compared to Mark? Both of them are shilling their own companies, Tesla isn’t different. Just because he offers you to buy Tesla with BTC, it doesn’t mean that he is on your side. He isn’t helping you, he is helping himself. While you’re laughing at him shilling DOGE, he is laughing at you how is he manipulating you. He is not helping crypto, he is hurting it. He isn’t same as you or me, he doesn’t have to save money for food, he doesn’t have the count if he has enough for dinner. He isn’t on your side, every one of the billionaires are trying to manipulate as much people as they can, to make them believe in theirs own visions and dreams. Just because he pumped your coin, it doesn’t mean that he is your lovely neighbour. Elon shouldn’t be used as a model for crypto. Just because he was on Joe Rogan podcast, it isn’t making him a proper role model. Stop giving him any reputation when it comes to crypto, this guy just shilled a shitcoin and thousands of people falls for it.

CryptoCurrency

Dude crypto is decentralized and open. There is no us and them. It is something to you, it is something to millionaires, it is something to billionaires, it is something to someone in africa, it is something to someone in asia, etc. It’s different for everyone AND THAT’S OKAY.

msiud7

5 Companies to set-and-forget hold for 10 years+

Given the information you have today, if you have to select 5 companies to hold for 10 years without looking at it, which companies will you pick? PS. I am well aware that you can always change your mind, correct your mistake as new information comes in, but this hypothetical question is quite useful for brining out the most conviction stocks we have, so I always like to ask people this

ValueInvesting

10 years is a long time. My picks are going to be companies that have alreadt shown they can adapt to technological and cultural shifts. DIS: has managed to stay culturally relevant through many shifts and acquire quality media properties KO: in any culture or country, as long as people are drinking beverages that aren't tap water, KO will find out what they want and sell it to them WMT: has essentially become the basic infrastructure of much of the United States, largest employer, is investing in ecommerce, automation technology and acquisitions DG: Nobody else has done the legwork to create and build out retail for rural America aside from DG. When the CDC wanted to get vaccines to rural America, they turned to DG for logistics. It is a moat that defies competition because 2 stores in an area that can only support 1 is mutually assured destruction. AMZN: Amazon is a machine that builds more Amazon. Amazon will adapt to any situation, any market environment, any cultural shift. It will become whatever it needs to become to succeed.

m3z86k

How to avoid Motley Fool articles

TLDR: Put "-fool" in every google search If you're like me and think Motley Fools articles are absolutely absurd and hate seeing them spammed across every DD search for stocks or companies, filter out every Motley Fool article by placing "-fool" at the end of google searches. It's like subtracting the fools from your research!! GLTA! . . . Edit: Sounds like some people enjoy their premium services, which is great! Obviously I was talking about the free overloaded clickbait articles. I have never paid for stock pick services and was just trying to help people who are in the same boat. [Example](https://www.reddit.com/r/CanadianInvestor/comments/m3tl1s/an_overview_of_motley_fools_opinion_on_air_canada/?utm_medium=android_app&utm_source=share)

stocks

Before you consider liking this post, you'll want to hear this. Investing legends and Motley Fool Co-founders David and Tom Gardner just revealed what they believe are the 10 best reddit posts for investors to buy right now... and “How to avoid Motley Fool articles” wasn't on the list.

msrdkk

Proposed action items to correct the direction of this sub

Mods. FatFIRE community. I’m going to be borderline cruel and candid with my thoughts in this post. In October 2019 this sub had 50k subscribers. Today it has over 160k. Most of those newcomers are nowhere near FatFIRE and clearly not on their way there. Most of them will also never ever reach FatFIRE in their lives, sans winning a lottery. It’s time to talk about the state of the sub (yet again). Why is the influx of newcomers bad for the sub: * They change the course of the discussion * Worthless contributions * Ascribing more importance to posts/ideas through up/downvotes that are clearly anti-fatFire * Increase in LARPing The speed at which the discussion on this sub has deteriorated in the past 6 months is absolutely staggering to me. I do not care to hear from someone making 50k or 100k. I simply don’t. They live on a different plane, have vastly different needs and budgets. I don’t care if they aspire to be fatFired, all people dream of wealth. But this is not a place for them, they have r/fire and r/chubbyfire at their disposal. **Examples** of troubling comments/posts that received support here but have no place on fatFire: * [After first 2-3 millions, a paid off home and a good car, there is no difference In qualify of life between you and Jeff Bezos](https://www.reddit.com/r/fatFIRE/comments/mkzt1f/i_have_a_secret_to_share_shhhhh/) – patently false and written by someone who doesn’t understand the purchasing power of 100M, let alone billions. Commenters pointed out why. * [I don't have enough money to retire so I'll have to get a job \[and may be\] working at age 65](https://www.reddit.com/r/fatFIRE/comments/lmcktr/fatfire_is_for_suckers_i_decided_to_file_live/). But sure, [FatFIRE is for suckers](https://www.reddit.com/r/fatFIRE/comments/lmcktr/fatfire_is_for_suckers_i_decided_to_file_live/)! – please tell me how anyone on the fatFire path would upvote this. Yet with 1.9k upvotes this is one of the top threads from last year * [I absolutely hate it when people post and others respond "you aren't 'fat' enough to be fatFIRE, go post somewhere else. The person making that post may have been saving every penny they have earned for 30 years.](https://www.reddit.com/r/fatFIRE/comments/ll2u8y/state_of_the_sub/gnp6dgg?utm_source=share&utm_medium=web2x&context=3) – classic example of how the subs dilution turns this sub into another generic “room for everyone” FIRE sub. Plenty of other subreddits focused on normal FIRE but no, we have to re-fit this sub to everyone who saved for 30 years and was only able to put aside a million. I can post loads of other examples, but in short, we need more posts like this [frank AMA from a wealth advisor](https://www.reddit.com/r/fatFIRE/comments/mhxhsq/ama_i_am_a_wealth_advisor_to_high_net_worth/) and much less posts about reaching [400k](https://www.reddit.com/r/fatFIRE/comments/k8jkep/just_hit_400k_25_m_380k/) or [1M](https://www.reddit.com/r/fatFIRE/comments/l2i0ke/cant_sleep_became_a_millionaire_yesterday/) milestones. My suggestions, and I hope fatFire folks will add more: 1. **Bans**. This is of the utmost importance. * · I firmly believe this sub will be lost unless we start not only removing content that’s not fatFire-related but also makes it clear such content is unwelcome here. * · Examples from actual comments: “I’m only a student but..”, “In my early 30s with 1.5M NW, half of which is in the house we inherited..”, “Lurker but not close to fatFire, I think…” * · All of the above should result in a ban, I’d prefer permanent but at least temporary would be a great start **2.** **Stop with ‘bending the rules’ for popular posts.** * · It creates a perpetual cycle where this sub upvotes and then creates more off-topic threads * · Don’t lock them. Remove them, and ban offenders (temporarily or permanently) **3.** **Report, report, report.** * Mods have been doing a terrific job guys. But it’s also on us to report stuff that’s clearly anti-fatFIRE or irrelevant. Partially inspired by [this old dog here](https://www.reddit.com/r/fatFIRE/comments/mpg76p/on_the_internet_nobody_knows_youre_a_dog/). ​ EDIT: some prime examples of comments from people nowhere near FIRE who get tons of upvotes here because I am not fat enough in their opinion to comment on the state of the sub: * u/headpsu: "I drive a used Toyota, live in a fixer-upper I’m slowly renovating myself" in Pittsburgh. Funny this person would talk about who is allowed to comment while openly admitting he's "[not fat yet](https://www.reddit.com/r/fatFIRE/comments/m85uvg/when_shall_i_fatfire/grg0x7a?utm_source=share&utm_medium=web2x&context=3)" himself. * u/gilglou is a student living with her parents: "[I’ve considered myself a functional stoner for years... For the past few weeks I have stayed with my parent’s and quit cold Turkey](https://www.reddit.com/r/leaves/comments/ke9urd/i_still_smoke_daily_but_still_find_myself_on_this/gg1eraa?utm_source=share&utm_medium=web2x&context=3)" I would also echo something raised by non-Fat people: lower content quality affects us all equally. Whether you're a lurker or contributor we all benefit most when the discussion focuses on the quality. I'm happy to go back to lurking if that's what it takes to raise the bar of the discussion and exclude people below a certain NW number, etc.

fatFIRE

I’m 25 and knocking on the door of 100k a year, I know I have nothing meaningful to contribute at this stage but lurking and reading posts and discussions from people clearing 300k+ annually or with a NW in the millions has greatly expanded view on money and eliminated my scarcity mindset. I’ll gladly keep quiet if I can keep lurking

7dmm3p

Bank of America just imposed a new $60 annual fee on their previously free personal savings account.

Today I noticed a $5 fee was deducted from my savings account. I called and was informed this is required, unless I met certain minimum balances, etc. I cancelled my savings account, which I've had for over 30 years. Link below for more info. https://www.bankofamerica.com/deposits/account-fees/ Edit: new fee, customer service agent confirmed to me on the phone that it just started today. She's had many people call in to complain/cancel.

personalfinance

BofA was my first bank account, had it for a few years. Closed it, got my money, all seemed well. Fast forward two years $200 debt shows up on credit report from a Community bank. Many phone calls were made, eventually found out that the BofA branch I had made the account with was sold to Community bank, and that after I had cashed out my account there was an interest credit of 7 cents applied to the savings account. That account was transferred to Community Bank which then began charging maintenance fees on it. Fortunately I still had all the paper work from when I closed the account with BofA.

bmwz72

Here's some cold hard words from a professional trader

Alright boys and girls. If you're struggling to become a "trader" listen closely.. I trade for a fund and here is some solid advice from someone who does this for a living. Plus, I've had a few whiskey's so I'm more inclined to offer advice than I normally am.. Don't judge me - it's Friday night here.. I'm probably going to receive flak for this from "traders", but again, I get paid full-time to do this shit so either listen or don't. I don't care. Basically, I'm sick and tired of watching a bunch of fakers offer a bunch of fake advice to a bunch of rookies trying their best to learn how to trade. I was taught by a mentor who had been doing this shit for 30+ years and I wouldn't be where I am today if it wasn't for him so I want to pay it forward. ​ **Rule #1: Risk Management.** This is THE only way to make money. The best FX-specific funds in the world are right no more than 60-70% of the time each month AT BEST. Some are only right 40% of the time and still make money.. HOW? Risk management. Risk only a % of each trade and trade like a sniper- take only the most high probability setups and and move your stop once it goes in your direction. If it reverts and stops you out, it means you're wrong and you don't want to be in the trade anyway! ​ **Rule #2: Have a target** Yes, the turtle traders "rode the trend".. but they also traded in an era where once a derivative broke out of a range it kept going. Now days you have false breaks/fakeouts/washouts, sideways action etc. If you don't have a target, how do you know where to get out? Don't worry if you get out way too early - as long as you get your profit. Which brings me to; ​ **Rule #3: Don't get FOMO (Fear of Missing Out)** Don't chase a trade. Period. If you miss the entry, who cares. You're trading a market that's open 24/5. There's always another opportunity. On the contrary, if you get out of a trade too early - who cares!? You got your profit, now let it run and look for a reversal. OR, if if consolidates, look for another move in the same direction. DON'T GET CAUGHT UP ON WHAT-IF'S! ​ **Rule #4: Stay Zen** This sounds hippy AF but trading will take your mind to dark places you didn't even know existed. Stay zen. A full loss? No problem. 4 losses in a row. No problem. This is part of trading. Stay zen and keep your emotions at the door. All strategies will experience a draw-down. If you don't want that and you don't like losing then you're in the wrong game. You NEED to be able to handle losses. ​ **Rule #5: Make your own analysis** Don't listen to "hot tips", analysis or anything from other sources. And please, for the love of god, DON'T PAY FOR TRADE ALERTS!!!! DYOR (Do Your Own Research), make your own analysis/bias and **stick to it**. This includes ignoring the "pro's". No one is right 100% of the time - if you go against the "experts" who's to say it's not the one time they're wrong!? I once held long a Euro trade when every news source in the world devalued the Euro... I was right, they were wrong - that was one of my largest monthly commissions that month.. I also once held a crude trade when everyone, including CNBC was talking about tanking crude prices - I made 10% on my portfolio that month.. ​ **Rule #6: Get realistic** Oh, you've got $1,500 to trade with? Yeah.. you won't be trading full-time next year. Sorry. It doesn't work like that. Anyone claiming to make 100% of their portfolio in a few months is lying. Either that, or they have BUT they won't keep it up. If they do, they'll go down in history as the best trader in the world. The average FX-specific fund averages 4-7% per month. At my fund, we aim for 5-10% per month. This is top 1% in terms of "funds" / "professional traders". If you're a retail trader you can probably make adjustments to trade a little differently and maybe improve your performance. But again, if you have $1,500 to trade, don't expect it to be $200,000 in 12 months. That's not how it works. Why do it then? Well, all you need to do is beat government bonds (4.75% .. ?) and you've made a "successful investment". How do people become rich from trading then? .. well, they manage money of course.. if you manage $1,500,000 and make 7% and keep a commission, you'll earn far more than 10% on a $1,500 account.. ​ **Rule #7: STOP LOOKING FOR THE HOLY GRAIL !!! It DOESN'T exist !** Want proof? Fine.. I have gone through and taken examples of how it doesn't matter what strategy you have, you CAN be successful. So, here are SEVEN different strategies on the SAME CHART (gold) that are all profitable. The point being that in the same bullish move it doesn't matter what strategy you use, there are multiple opportunities to enter. Strategy 1: https://i.redd.it/wrwl1170xcx21.png Strategy 2: https://i.redd.it/fx9gqma3xcx21.png Strategy 3: https://i.redd.it/8tli4yv5xcx21.png Strategy 4: https://i.redd.it/grbcy2n7xcx21.png Strategy 5: https://i.redd.it/98siamy8xcx21.png Strategy 6: https://i.redd.it/i3fjz2taxcx21.png Strategy 7: https://i.redd.it/thgudhwcxcx21.png **Rule #8: Stick to your strategy** This is important. If you encounter a string of losses - DON'T CHANGE YOUR STRATEGY. Just because you're going through a drawdown doesn't mean your strategy no longer works. This is where risk management comes in.. if you're only risking 2% per trade you can sustain a drawdown.. if you're punting at 10% per trade you're quickly going to burn out. ​ **Rule 9: Stay true to your analysis** You're either right or you're wrong. If you're in a trade and it goes your way then reverts, are you going to close or hold? Once you enter a trade you shouldn't be "guessing" you should know "it's going to go to here" - you're either right or you're wrong. Don't be scared by a simple pull-back. For example, in the situation below, if you enter where it says entry and you expect it to reach your profit target.. would you close when you see the choppy action in the red box? A rookie would get scared and close. A professional would hold knowing that they're right and it will eventually hit their profit. If it doesn't, it means they're wrong and that's what their stop is for - the most they're willing to risk. If you're never willing to take a full loss, you'll never be willing to take a full win. https://i.redd.it/lk818xn28dx21.jpg ​ **Rule #10: Find your style** Are you wanting freedom? Then don't scalp. I spend no more than 10-15hrs per week looking at charts. That's how I like it. I won't want to be like some of my colleagues where they left a full-time job only to.. look at a chart full-time.. What's the point!? But hey, if you're into that stuff and you like watching each tick, then good luck to you. If you're new to forex, start on a daily or 4hr then work your way down to intraday. Most strategies can be slightly altered from a daily chart to suit a 5min chart. ​ **Conclusion** There's some good reading for ya. I'm now more than tipsy so should probably go drink some water. If you have any questions, ask away. Don't expect a quick reply. Remember, it takes years to learn this shit. Don't beat yourself up if you hit a 'slump', just keep chugging along and you'll get there in the end!

Forex

One of the best write ups I have seen recently on the thread and very structured and referenced. I think you need a few more whiskeys 😊 (i was expecting a drunken tirade but appreciate your insights). Cheers mate and have a great weekend! (Edited typo)

l7awnp

Today is a dark day for traders

It does not matter if you invested in GME, made money on NOK, or you are just interested in the stock market. Today different brokers took down from MILLIONS of retail traders the opportunity to partecipate actively in the stock market to save some billionaires hedge funds. In the last generation most of the people thought about the stock market as something abstract and only reserved to the richest getting richer, only having a clue about what Wall Street is thanks to movies. For few years in wich the possibility to partecipate was estended to a lot of retail users, and guess what happened? Most retail users (up to 80%) lost money having no idea what they were doing. In the last few weeks GME has been the opportunity for normal people to take something back from the people controlling the market, and when they were finally succeeding, guess what? They cut us out. I do not know how today will be called but it will go down in history books after the Wall Street Crash of 1929 and the crash of 2008.

stocks

I put the following on the other sub, but I can share it here, too. - - - - - - I'm glad this place has quieted down enough for some actual DD written by a monkey with a keyboard and Adderall. Disclaimer: I am that monkey. Let me explain to you what happened, play by play. I will give you illiterates who hate reading a spoiler up front: **We were within approximately 30 seconds of triggering a nuclear bomb that would have blown up the market.** Do I have your attention? Here goes: 1. Yesterday, new call option strike prices were added all the way up to $570. Do I have to go over gamma squeezes again? Really? We've been over this: when deep out-of-the-money call options start being gobbled up and the price starts moving towards being in-the-money, the call writers have to hedge their risk of having their sold calls exercised, typically by buying stock. This creates upwards pressure on the market. We've been seeing these movements all week. 2. Yesterday after market, you probably saw that coordinated effort to drive the price down and spook retail investors into a mass sell-off. It didn't work. 3. Last night, Robinhood sent out a message to users: you could no longer enter into new options. You could exercise them if you had the collateral (money in the account) to do so. Very interesting and the first sign of pants-shitting fear. 4. Today, the market opened very strong. It opened so strong that we were looking at a self-perpetuating gamma squeeze all the way up way past $570. 5. At approximately 9:58 am, the stock had reached $468 in a parabolic move. 6. Two minutes earlier, at 9:56 am, Robinhood tweeted that they were not allowing users to buy GME stock, but they would allow selling. 7. The trend instantly halted and started a collapse downwards, before picking up a bit, especially after some retail was allowed back in. Okay, now that you are clear on the facts, understand this: **The market ran out of liquidity today, or was threatening to get close enough that they killed it.** What does that mean? It means they ran out of shares and/or capital. They wouldn't let you buy new shares because we were burning through all the shares on the market. I saw an unsubstantiated post from a user who said **a small sell limit order executed at $2600 for him.** Do you get the severity of the situation, if that's true? It means the buying was getting to the point where it was just about to put INFINITE pressure on the price of the shares. It means virtually any ask was getting bid. How do you get infinite upwards pressure? A gamma squeeze triggering the mother of all short squeezes, just like we predicted. The call writers need shares to hedge. Retail is still buying more. The short sellers need over 100% of the float back. Add these together. There were more shares needed than existed on the open market. That's what a liquidity crisis is. Listen to [this remarkable (if infuriating) interview](https://www.youtube.com/watch?v=7RH4XKP55fM) where the chairman of Interactive Brokers admits that they didn't have the capital to pay out the winners (us), so they took their ball and went home. **DO YOU GRASP HOW INSANE IT IS THAT HE SAID THEY NEEDED TO SHUT DOWN BUY ORDERS TO "PROTECT THE MARKET"?** Hello! He's not talking about the market for GME shares. He's talking about the entire market! The New York Stock Exchange. The NASDAQ. All that. Remember the movie *Snowpiercer*? Do you remember that scene where the lower class people realize the soldiers who oppress them have no bullets? Go to the 1:00 minute mark of this link: https://www.youtube.com/watch?v=EH1EtiOhr6o It kick starts a full blown rebellion. They have no bullets. It's the exact same in this market: No capital. No shares. Infinite losses inbound. **TL;DR: For all you who will just skip to the bottom to ask, "Do I get my tendies now?" the answer is this: they NEED NEED NEED your shares. Do you get that? HOLD. Like the guy in the movie, scream, "They're out of bullets!" and create a stampede. That's how we win.** They needed your shares so badly that they literally risked PRISON TIME to get them. They tried robbing you, and I'm not even exaggerating. They were within 30 seconds of all being wiped out today.

ryofb8

Navi Loans: Uninstalling Navi app, even accidentally is considered fraud according to the T&C

From a recent article in [Money Control](https://www.moneycontrol.com/news/business/personal-finance/sachin-bansals-navi-offers-home-loans-at-6-4-heres-what-borrowers-must-do-7909331.html): > According to terms of the lender, the borrowers are not allowed to uninstall the NAVI app from mobile device until you repay the loan. Any accidental violation of this term will be tantamount to fraud, and the lender may initiate legal proceedings against you. It's unclear if they will actually enforce this, but it does seem risky to take a loan knowing that even accidental deletion will be considered fraud. Originally discovered this from a post on the Facebook group Asan Ideas for Wealth ([link](https://m.facebook.com/groups/asanideasforwealth/permalink/6735960589808110)). Just thought I would reshare here as well.

IndiaInvestments

Navi app developer here, obviously from throwaway account. We collect all source of data from sms. Salary credited, account balance, savings percentage from initial salary credit at end of month, where is money going, using what heads, is it being saved or used as luxury or necessities. This data helps us to create a profile for user to offer rate of interest, charges and poach that user data to other company for loan takeover at slightly better roi but a little higher one time charges. Removing app leaves control over data. Ofcourse we don't actively track it and not sure if we have ever enforce it legally but this is why it is set as best practices to keep app. Infact FB post and news articles are pushed from marketing team only so people get aware that they are not supposed to remove app, if it comes from us, it looks scary. If it's coming from news article, people who take loan will not dare to remove. People who are too smart about privacy, roi, their charges anyways won't take loan from such companies. Am i proud of it? No. But it pays the bill. Edit - we also used to collect data on contact and most used contact so we can ping them in case of default. But it was waste as we realise most of people most contacted no are not relatives or family. We concluded that now people mostly use whatsapp messaging and calling features to stay in touch with close one. So we stopped collecting that data.

iegpe4

Why do people think you can only gain 10-20% yearly with trading?

In past discussions with people they often said it is better to invest longterm instead of trading. ' You can't win more than 20% yearly because the statistics will catch up to you. ' is something one guy said. He also added you might win 50% but that is gambling. I don't believe that at all and I personally know a guy who worked for less than $20/h and had a portfolio of $2k. He traded his way up to $100k+ trading crypto. I have seen his trades with my own eyes so I know its 100% not made up. I think sticking to a strategy ( which most people don't ) and executing it over and over could yield large gains. I wanted to know what you guys think of the notion that you can't be profitable with trading and if/ how you have been profitable trading your niche market.

Trading

Ed Seykota has consistently made 65% for over 20 years, George Soros beat the SPY index by 100x, supertraders exist. Most people won't even beat the market, some will beat the market only by a little, select few beat it consistently, only the elite can get those kind of results. If you can consistently beat by >2x a buy and hold approach through active trading, and pick investments to beat the indexes, Hedge Funds would like to have a 7 figure conversation with you