diff --git "a/reddit_finance_43_250k_116.txt" "b/reddit_finance_43_250k_116.txt" new file mode 100644--- /dev/null +++ "b/reddit_finance_43_250k_116.txt" @@ -0,0 +1,10000 @@ +3600(2 )=$7200 a month +*my expenses per month are around $1500 a month +Net save~ $5700 a month into my long term dividends portfolio +$5700(12 months) =$68,400 invested a year + +I feel like my 20s are the most valuable and I don’t know if I should invest it in school or just work and invest in an actual portfolio instead. + +Edit: I’m only looking at this path because at the moment, I live with family so expense is generally low. +Yes, I also didn’t take taxes in account +& I’m pursuing a double major in Finance and Economic but looking to drop economic soon. +There were some comments on some posts stating gmefloor is just a counter. Ye no shit. + +Ken griffin who is one the lowest out of the hedge funds reportedly made 68,000,000 a MONTH *AFTER* taxes + +One shitty broker who are responsible for a 20 year old committing suicide, robinhood, turned off the buy button stealing peoples money, after all the evil shit they did, they get sued only 70,000,000 out of the billions they stole for the january shit. + +These already extremely rich pieces of shit steal the peasents tax money so they can use it for their yacht parking fees whilst alot of us are barely paying to live in place we dont even own, MONTHLY just to survive. + +Ive held for fucking a year and a half, to these shitheads who caused this, i wouldve settled for 1k in jan 2021, now after learning about shit like infinite loss potential, its now not life changing money, but WORLD changing money. + +This isnt a once in a life time opportunity, this IS the ONLY opportunity something like this will EVER happen in HISTORY of mankind. + +There are multiple dd that no one can debunk about the price which shows we should be aiming higher + +Be quiet with the whole "iTs uNrEaliStic, iM sEeiNg hOw hiGh It gOeS" + +With all the fud and the pathetic shills that we went through and the price drops it and the pathetic sellout mods, its "unrealistic" that apes were to hold on, but there have NEVER been a group that is determined resiliant, and who absoloutely dont give a fuck like us, because after ALL that shit and we are STILL GOING TO THIS DAY. + +This is why I have full trust that OG apes who have been here since begining wont be fazed at all by the price drops or <100,000,000 prices + +Edit: this post hits the 600 mark then suddenly gets downvoted?? + +You pathetic shills, just tell your master to accept they lost + +Edit 2: there is another post saying 1 billion is actually the floor. 100,000,000 is THE floor, yes gme counter is just a counter, but it represents how long they made us wait, which was something we held against them. That the longer they made us wait, the greedier we become. World changing money. + +Although there is lots of undebunked dd which supports the 1billion floor, thats his floor( infact there was a highly upvoted post also saying his floor was 1 billion citing a dd which no one could debunk) so good for him. That said + + 100,000,000 is THE floor +Seems that the full episode got dropped early. The full episode is up, watching it now. + +Edit: + +-Great explanation of PFOF. Calls out Citadel, Robinhood, dark pools, Melvin, Ken and all his pent houses. Show clips from that bizarre Economic club of Chicago interview a few months back. + +-Dave is on. and two guys I’ve never heard of. Also Matt Kohors. They refer to him as a “leader in the Ape movement” (gag) + +-Dave sounding smart af. Talking about how unnecessary complexity leads to vulnerability and inequality in the system. How it was done intentionally. + +-Dave says that Redditors identified a flaw in the system, that GME was shorted over the float. Directly says we are right + +-Guy on the panel makes uniformed opinion about how GME/popcorn aren’t trading on fundamentals. Jon and Dave shut him down. (post got taken down for mentioning 🍿). + +-Shitting on MSNBC and Fox + +-Matt Kohors says some stuff, sounded alright. If I didn’t know who he was, I wouldn’t question it. Didn’t reflect poorly on us. + +-Discussion about how market structure will kill us long term. How inflating the stock market is the only politically viable move. Also mention of how pension funds are the ones getting screwed long term. + +**-Cut to Gary and SEC. Blue shirt, no tie.** + +-Jon getting heated in a discussion about corporate influence in the lawmaking process. Jon says the financial institutions effectively write them. Gary defends congressional policy writers, saying he’s worked with lots of them. + +-Jon calls us apes, says we’ve crowdsourced a way to root out corruption. + +-Gary works with the laws congress gives him + +-Gary says he wants to get things done. But lives within the system. Jon wants him to look outside the system. + +-Gary wants to go after high profile cases to set the vibe. going after “gatekeepers” + +-Ends with an intimate call to action from Dave, asking us to write to the SEC. Say that we want change. Also a link to Bettermarkets.org + +🍏 + + +### Final thoughts + +Jon and the show do a good job explaining the situation to a casual audience. They go in to detail about market structure, how we’re getting fucked. They name major villains from the sneeze. How GameStop was shorted over 100%, and even say directly that redditors were right and justified. + +However, they stop just short of following that conclusion to its next logical points. That this thing never fucking ended. That GameStop shorts never covered. That the chain of liability threatens countless financial institutions. That the stock price is still artificially suppressed, and that GME is an obvious BUY. + +There is no mention of GameStops fundamentals or turnaround, Ryan Cohen, or and specific subreddit. Gary didn’t say much that stood out to me. No mention of the Justice Department investigation. + +Overall, this is the highest quality piece of journalism I’ve seen on the topic from a major source. Still wonder why it dropped a day early? +Day one ape here. Seems like there’s been a lot of controversy on Superstonk again with Gherkin getting banned(?) and also issue with some Mods. + +I just want to say to my fellow apes and future moon friends. + +All we have to do is BUY, DRS, HODL. + +Everything else is filler. +TA is filler that continues to show us the price isn’t real. +DD is really really good filler that sheds light on the market we’re invested in. + +Superstonk drama isn’t real. +No amount of mods that have sold out and caused drama, or TA analysts that have taken advantage of people, or DD writers that step down… + +No amount of any of that useless filler, is going to stop me from BUY, DRS, HODL. + +This is a long bumpy ride. +Zen up. +Ok so this is a rant more than anything. +The new NHS payrise has come into effect in this month's pay, and it is back payed from April. +I'm a band 5 worker at the first increment point so on £25600 a year this is going up to £27000. +Just received the payslip and a pay rise of £1.4k plus back pay from April has given me a whopping £140 increase to what I got paid last month at my old wage, £1680 to £1820. This is because my pension has gone from 7.1% to 9.3% pension payments also back dated. The fact that the bottom of band 5 pays 9.3% of their paycheck into pension is an absolute joke. I paid £500 into my pension this month. £220 in normal 9.3% for the month and then £300 is backpay pension dated from April. +This means the increase to our wages to help with inflation etc is just lost to pension. With everything in the world going up in price starting to think I need to stop pension to actually be able to afford living + saving for a house. + +Edit +Ok this blew up a lot, I know the NHS pension is better than others but what has annoyed me is the fact that what is essentially a pay rise for everyone in the NHS has made people worse off or just in the same boat as before. I'm mid 20s so won't be seeing this pension for a LONG time. + +I mean the fact band 8s OWE money after a payrise is disgusting. A pay rise should equal more disposable income no matter what, you shouldn't be worse off or in the same boat as before a payrise. Especially with the cost of living as it is right now. +I’ll contribute to the thread myself. I’m not to that point but hope to be/likely to be one day if I maintain my path. I also grew up in poverty. How it effects me? Spending has always been hard with me. For some weird reason I still have a hard time with small expenses, such as using napkins as often as I want without feeling guilty or getting little luxuries. At the same time I finally can allow myself to have a big expense for housing so live in a nice home. + + +Another impact is that I’d bet the idea of financial independence excites me much more than others in this position, but that’s just a guess because I’ve only ever been one person. I think about the future and run calculations very often, and it just feels like winning the lottery to me. I can’t imagine having a SWR that allows me to spend $150-200/year. I can’t even wrap my head around how wild that is to me, but at the same time the math says I’m well on my way if I can maintain a good job and income. So, it’s surreal. I look forward to not having “spending anxiety” and giving to others near me who are in need the most, I always feel so much for them having been through it. + + +I just want to hear from people like me, and see if they feel the same way. Or even better, people like me who are actually at the destination, and see how they feel. +Welcome to the Daily General Discussion thread of /r/EthTrader. + +*** + +Thread guidelines: + +- Please refrain from discussing non-Ethereum related tokens here. You are welcome to discuss altcoins in the Daily Altcoin Discussion thread. +- All [sub rules](https://www.reddit.com/r/ethtrader/about/rules/) apply here so please be familiar with them. + +*** + + Resources and other information: + +* Newcomers who have basic questions about Ethereum can find answers by visiting /r/EthereumNoobies or our Ethereum Education wiki page, [see here](https://www.reddit.com/r/ethtrader/wiki/education). + +* To view live streaming comments for this thread, [click here](https://reddit-stream.com/comments/auto). Account permissions are required to post comments through Reddit-Stream.com. + +*** + +Enjoy! + +Well, it appears that was a lie. Today I was notified by my bank that my social security number along with information I’ve only provided to Robinhood is being spread across the web. + +Cheers, and happy Easter. + +[Link for those who weren’t aware of the security breach.](https://blog.robinhood.com/news/2021/11/8/data-security-incident) + +Edit: +I think that skepticism is totally okay, and I agree no one should believe this post. There just isn’t enough information I can provide to prove it to the public without also putting my identity at risk. What I can prove, and the purpose of the *proof* provided is to say I did get an alert with this information shown as being leaked. + +What this post should do is encourage everyone to do their own DD on their credit report and review any credit alerts they have to determine whether their information was leaked. I am under the belief that this was leaked from RH, and this is the one community I know of that also used RH regularly. Awareness is good. +I've been reading Tim Harford's The Undercover economist and he mentioned that tariffs are almost always bad for an economy. I am assuming there are situations in which they could be beneficial though - say the Govt. is trying to help a sector grow due to possible future gains. + +Am I wrong? Or have I missed something? +Hi everyone, we decided to write down some guidelines for top-level comments in threads. These are not hard-and-fast rules, just suggestions to help you get on with writing quality answers. If you have any questions, please message us. + +**r/AskEconomics Comment Standards** + +This post contains guidelines for comments in this subreddit so that users and moderators can get a better idea of what content meets our standards for furthering knowledge and interest in economics. All top-level comments from non-whitelisted users must be pre-approved by a whitelisted user to appear. If you are interested in being whitelisted, you can apply [here](https://www.reddit.com/r/AskEconomics/comments/o4yxn4/why_no_answers_approvedwhitelisted_user/). + +These aren’t hard and fast rules. However, they represent a set of guidelines developed by various moderators over the years and guide our thinking in reviewing top-level answers to questions. Overall, we are looking for answers that cite the tools that economists use to study the world, namely economic theory and empirical evidence. + +If you are unsure of an answer to a question, ask yourself, “Is this something that an economics professor versed in the subject would likely say to a student asking it?” + +**Detail:** + +Answers should be as long as they need to be. One sentence answers are generally removed. If a post asks something like, “What was CPI inflation in the US last month?” this is answerable with a concise answer, but if someone asks about the causes of this inflation, that will require at least a few paragraphs. + +Answers should seek to address questions in a manner consistent with economic theory or empirical evidence as the mainstream of professional economists would address it. However, length does not always mean quality. Long comments can contain errors, that one should be on the watch out for. + +Comments that focus on a particular aspect of a question are also welcome. For instance, if someone asks a multipart question, it’s OK to focus on one part (although more comprehensive answers may be preferred), or if the question is an ask for examples of a certain economic phenomenon. + +**Mainstream Economics +** +There’s a lot of discussion, mostly online, citing, critiquing, and analyzing “mainstream” economics. The [Economics Methodology FAQ page](https://www.reddit.com/r/Economics/wiki/faq_methods) is a useful overview of how most economists think about the world. For the opinions of economists, the Booth School conducts surveys of US and European Economists in what’s called the “[IGM Survey](https://www.igmchicago.org/igm-economic-experts-panel/)”. This can be a useful gauge of where most economists stand on hot-button issues. Agreement on all topics isn’t universal, but it serve as a counterpoint to claims that economists agree on little. + +Overall both macro and microeconomics have shifted towards in recent years towards greater reliance on empirical measurement. In macro, experts have started to [converge](https://voxeu.org/content/state-modern-macro) on a framework for thinking, and micro has [adopted](https://www.aeaweb.org/articles?id=10.1257/jep.24.2.3) several tools of empirical analysis to test theories. + + Sometimes, individual economists disagree with the mainstream on certain topics and develop more heterodox work. While these inquiries can be useful and look at questions from a different perspective, it’s usually best to cite more mainstream work in concert with heterodox analysis. + + +**Economic Theory** + + + +*“All models are wrong. Some models are useful”* + + +- George Box + +Economic models are abstractions of reality used to make predictions about agents. Agents can be individuals, households, firms, governments, or any other organization of people. They are typically faced with trying to satisfy certain preferences while under certain constraints. Models can range from simple supply and demand to complex behaviorial models. All models are simplifications of reality. They don’t capture every bit of information, but useful models capture the important bits so that we can make predictions of behavior. + +In general, models can come from multiple sources. One can cite a textbook model, and generally should name what the model is called so that someone can look it up for more information. Another source is a paper in which someone develops the model. Finally, one can create a model by using [commonly accepted economic assumptions](https://www.nobelprize.org/uploads/2018/06/mcfadden-lecture.pdf) and work from there, but this is only recommended for commentators with a graduate level of economics training. + +In general we expect predictions from models. When possible we ask that people evaluate these predictions with a look at the evidence. + + +**Empirics** + +One way to evaluate predictions made by theory is to test them with empirical evidence. Over time, empirical studies have become more common in peer-reviewed journals [relative](https://www.aeaweb.org/articles?id=10.1257/jel.51.1.162) to theoretical work. This doesn’t mean that theory is dead, but empirics are growing with access to better data and [techniques](https://www.aeaweb.org/articles?id=10.1257/jep.24.2.3) for analyzing that data. Empirical work comes in many forms, and some sources of it tend to be better than others. + + +*1. Peer-Reviewed Articles* + +Articles in peer-reviewed journals are generally the gold standard for evidence that economists use. Some journals are better than others. Look at the number of citations of a given article. Top journals include American Economic Review, Quarterly Journal of Econonomics, Review of Economic Studies, Journal of Political Economy, and Econometrica. However, one [shouldn’t](https://www.aeaweb.org/research/charts/publishing-promotion-economics-top-five) be completely wedded to these publication. There are also many journals centered around sub-disciplines called “field journals”, including the Journal of Labor Economics and the Journal of Urban Economics. You can also find working papers in the [NBER](https://www.nber.org/) and [IZA](https://www.iza.org/), which are very useful. There are many journals out there, and they often vary in quality. If one isn’t familiar with the particular subfield of the paper they’re looking for, it may be better to stick to journals with a wider readership and citation count (or [impact factor](https://ideas.repec.org/top/top.journals.simple.html)). + +Journal access is quite expensive, so it’s often easiest to cite the working paper versions of papers, which can usually be found with a little googling. Economists often put a pre-print version of their paper on their website. + +*2. Data Sources.* + +One downside of peer-reviewed articles is that they take a while to put out, and they don’t address every topic. Sometimes it’s easier to go directly to the data, especially if the question points to it. There are tons of data sources put out by government agencies, non-profits, corporations, think-tanks, news articles, and economists. If you feel up to it, you can present and explain this data, but try to use economic theory when you can. + +[FRED](https://fred.stlouisfed.org/), which is run by the Federal Reserve Bank of St Louis is an excellent place to look for and share data. Other useful sources include: + +[Bureau of Labor Statistics](https://www.bls.gov/) + +[Organization for Economic Cooperation and Development](https://data.oecd.org/) + +[World Bank](https://datacatalog.worldbank.org/search/dataset/0037712) + +US Census Bureau (searcheable through many places, including [IPUMS](https://www.ipums.org/)) + +[International Monetary Fund](https://data.imf.org/?sk=4C514D48-B6BA-49ED-8AB9-52B0C1A0179B) + +A longer list of common data sources (mostly focusing on US Data) can be found [here](https://guides.lib.vt.edu/subject-guides/econ/data-sources). Google is your friend here, but to put the data in easily shareable form, FRED is often the best place to look first. + +*3. Tertiary Sources* + +The economic profession has a large number of sources that seek to bridge the gap between academia and popular discussion. Several publications, including Econofact, the Journal of Economic Perspectives, and VoxEU, provide summaries of research about current topics. Think tanks can also do good research, although be aware that many think-tanks have a political agenda and may not be reliable sources. + +As mentioned above, the Booth School from the University of Chicago frequently polls American and European economists about various topics. This can be a jumping off point to understanding where most economists stand on various topics. + +*4. Sources to be Wary of* + +There are some sources that come up frequently that aren’t always removed, but usually are. Youtube videos are generally removed. Youtube doesn’t have a great reputation with respect to economics content, and it’s difficult for moderators to check quality. Answers relying on it are usually removed. + +Blogs can be a mixed bag. Some are quite good, like Noah Smith’s, Greg Mankiw’s, or Paul Krugman’s, but others aren’t as good. In general, it may be better to stick to other sources. + +Wikipedia may be useful for referencing a type of model or bringing up a particular illustrative example that gets one’s point across. However, be wary of using it as a sole source. This isn’t because Wikipedia is bad at presenting information, but it’s an encyclopedia that’s going to only deliver the bare introduction to a topic. Futhermore, articles about heterodox economic ideas to be not great, and are usually written by fans of the theory, instead of reflecting the mainstream on the topic. + +Anecdotes are generally not sufficient by themselves. Sometimes they can be useful to illustrate the predictions of a theoretical model. Other times questions may be about a particular organization’s practice, and someone familiar with this industry can chime in. It’s fine to mention these things, but we ask that you cite theory or bring data in when possible. Answers that rely solely on anecdotes for whatever reason are usually removed. + + +**Normative vs Positive** + +Many questions in this sub ask whether or not certain policies or actions are “good” or “bad”. Economists aren’t generally comfortable diving into these questions. We often divide statements into two categories, normative and positive. In general, a normative statement can be thought of as an opinion on a subject, and a positive statement can be proven or disproven as a fact. + +An example of a positive statement is how a certain change in tax policy would affect the measured amount of inequality in a country. A normative statement would be about whether or not the rich would pay their “fair share” due to such a policy. Economists can make predictions about the former question. However, while an individual economist might have an opinion on the latter, they would have to look outside of the tools of economic theory or empirics to do so. + +Questions often ask for normative judgments on various topics. A sufficient comment should seek to point this out and perhaps try to look at it for various angles. For instance, if someone asks if it’s “good” for the US to have free trade, one can point out that there are winners and losers to trade and how different groups benefit or don’t. A wide array of perspectives are welcome. However, we ask that all answers use theory and/or empirics. Try to avoid saying that certain outcomes are “good” or “bad”. A certain level of moral judgment is inevitable, as which outcomes are measured and predicted reflect one’s subjective moral framework, but try to stick to things that can be proven or disproven empirically. + + +**How are these Guidelines Used?** + +As of December 2021, r/Askeconomics has over half-a-million subscribers and about 90 active moderators. It’s thanks to their hard work and the community’s great questions and discussion that keep this sub active. Moderators use their judgment and knowledge of economics to make calls on which answers get approved. Whitelisted users, who make up the bulk of our moderation team, are expected to have the equivalent of around a bachelor’s degree in economics level of knowledge. However, having a degree isn’t necessary; many of our team are just passionate about economics. If you want to contribute, feel free to message the moderators and see our [post on being whitelisted](https://www.reddit.com/r/AskEconomics/comments/o4yxn4/why_no_answers_approvedwhitelisted_user/). + +When it comes to moderator decisions, there is sometimes disagreement. When a disagreement or uncertainty around a question comes up, we try to discuss with one another and come to an agreement. A decision to remove an answer is not meant to be affront to anyone’s expertise on a topic, but it’s just not what we are looking for. For instance, as-of-yet-unapproved answers in threads with several already-approved answers may face higher barriers to approval. Sometimes if an answer contains a minor error in an otherwise good comment, it may be approved, but we ask that the moderator approving it point out and correct the error if they can. + +Again, these guidelines are not hard-and-fast rules. This subreddit receives a wide array of questions, and what works for one set of questions doesn’t for another. However, they provide a starting point for discussion to further interest and understanding in economics. +A few hours ago, DT posted the following tweet thread: +https://twitter.com/realDonaldTrump/status/1159473909827297281?s=19 + +What is Trump saying about currency manipulation? Why is the Fed doing something that DT claims is bad? What is the Fed actually even doing here? I'm hoping to get an apolitical explanation/assessment of Trump's tweets on the merits of his economics. Not trying to stir up anything. Just hoping to learn from experts. Thanks! + +p.s. I have a degree in applied math so I'm fairly literate on how numbers work in general but I never took any economics classes. +[magazine] + +I was recently gifted a subscription and love it, though I've generally been out of reading/studying the subject since early/mid 1990s. + +What should I watch out for in their writing, and are there any common problems that stand out in their analyses? + +Thank you. +[Here is the report I made for myself](https://imgur.com/a/85HcV). + +I used You Need a Budget 4 to manually enter every single transaction and also managing my budget. I blew my budget quite often but just having numbers and goals written down helped me to control my finances quite a bit. I also used Mint to compare with my YNAB and to categorize all of the transactions. + +It was a big pain in the ass to do this but i really look forward to the days where i will take an hour or so to reconcile my transactions and make near term plans in my budget. Hopefully this helps you to track your spending and really know what's going on. + +**Edit:** A lot of salt here from people that are upset I don't pay for housing or food but many don't realize I've worked hard in my career to get here and that there are thousands of opportunities out there that do the same, you just need to look for them. Room and board are part of my compensation, they aren't free! If i were making 15k more a year and mailed out a mortgage check every month would that make all of you happier? + +When I lived in California, I was making ~72K for the same job so this is a substantial paycut. The difference, obviously, is that my COL is so low out here. I do, however, trade that low COL for things that you probably take for granted. I live on a small isolated and very remote island, I can't just leave whenever I want to and I can't just take off for the weekend or the night. I literally live thousands of miles from all my friends and family. The availability of goods is very limited and we face shortages often. The internet is very slow and relatively expensive and goods take weeks to make it out here if you order online. My entertainment options are extremely limited compared to a lot of places. I don't pay at the cafeteria but the food quality isn't that great and I don't choose what they make, I eat whatever they decide to make that day. I have to put up with a ton on inane rules that I have absolutely no say in. Sometimes, staring at the same three square miles and seeing the same faces every single day gets a little old. Infrastructure is crumbling, flights are super expensive in and out, my room is only about 400 sq ft of space, etc. etc. + +There are many other good points of living here, which is why I've stayed as long as I have but you can see that there are definite drawbacks to living a lower COL life. + +**Edit 2:** This isn't supposed to be me advocating people live a lifestyle or have a budget like i do, it's me advocating tracking your expenses and analyzing them thoroughly so that you can control where your money goes. AKA read the title +Personally, I love Disney. I think their brand and their contents are just perfect, and somehow I feel emotionally attached to the company because I grew up watching Disney movies, buying Disney products and going to Disneyland. + + +I didn't make a full valuation but I will, and right now I feel it's overvalued. However, we don't know how to value Disney, because the company wants to increase its revenues from Disney+, which I'm sure will become more important than Netflix. The brand power of things like Star Wars, Disney cartoons (unmatched), and Marvel are just incredible. And I’m sure they will acquire more brands to fuel their tv shows which are usually better for streaming platforms. + +I feel like their Disney+ business isn't really "priced in" in Disney, and they still didn't produce many new shows/movies for the platform. Netflix PE is 90, Disney (adjusted) is 40. + +What do you guys think? Am I being too emotional, or do you believe this can still be considered as a "value" stock, compared to its tech competitors? Or the actual price already reflects this? I'm still on the fence on this. +Hi guys! + +Very happy to have found this sub reddit. I have been a value investor for a few years now and I love it (love my returns \^\^). + +I love Sven's sheet, however I can't wrap my around around how to use (or what to specify in) the **terminal multiple** cell (for each type of scenario). + +Can anyone help me (1) understand what the terminal MULTIPLE is and (2) how one can arrive at a number to specify for each scenario (worst, normal, best case)? + +[Source](https://svencarlin.com/how-to-calculate-intrinsic-value-formula/) + +Thanks in advance! +First time poster here. Dragged ourselves out of poverty and finally doing ok. 46 & spouse is 49. Thinking about purchasing a duplex or triplex to get into the RE market. Own a home, mortgage is 220- assessment value is 500k. He works full time(currently trying for a much better management job) I am self employed. Is it too late for us to get into purchasing property for rental units? I feel like we’ve missed the boat in many ways due to our age. +News on ETH is picking up speed. Bloomberg added Ethereum to their terminal and there is rumor of a futures contract for ETH which will settle in ETH and not USD. This is huge and understated in how it will effect everything. + +Banks are adopting it for their interbank ledgers and many have stopped funding their competitor, Hyperledger, because a blockchain without a coin makes no sense. + +The implementation of zk-snarks for privacy is looking good. Vitalik has been making good progress with Casper and Plasma which are really important for the next stage of the network. + +They have already accomplished so much and it’s only now being realized what areas the technology will be useful in. + +All this and Vitalik is still humble and working harder to implement his vision. With his leadership and the community of developers, industries, and governments supporting the project it has potential to overtake and become the top platform both in utility and value. + +I’m feeling $900 by new years is completely reasonable. What are your thoughts on this? +Welcome to the Daily General Discussion thread of /r/EthTrader. + +*** + +Thread guidelines: + +- Please refrain from discussing non-Ethereum related tokens here. You are welcome to discuss altcoins in the Daily Altcoin Discussion thread. +- All [sub rules](https://www.reddit.com/r/ethtrader/about/rules/) apply here so please be familiar with them. + +*** + + Resources and other information: + +* Find the latest Altcoin Discussion thread in [this search listing](https://www.reddit.com/r/ethtrader/search?q=author%3Aautomoderator+title%3Aaltcoin&include_over_18=on&sort=new&t=all). + +* Newcomers who have basic questions about Ethereum can find answers by visiting /r/EthereumNoobies or our Ethereum Education wiki page, [see here](https://www.reddit.com/r/ethtrader/wiki/education). + +* To view live streaming comments for this thread, [click here](https://reddit-stream.com/comments/auto). Account permissions are required to post comments through Reddit-Stream.com. + +*** + +Enjoy! +This is the official $GME Megathread for r/Superstonk. Please keep ALL conversations contained to Gamestop and related topics. + +**Not enough karma?** Here's a [**quick guide**](https://zapier.com/blog/how-to-get-karma-on-reddit/) on how to get it. + +# [announcements](https://www.reddit.com/r/Superstonk/wiki/index/announcements) + +* Make sure to check the Announcements regularly. 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Check the main page for the sticky post and vote now! + +**Want to learn more?** [**Check out our extensive Wiki**](https://www.reddit.com/r/Superstonk/wiki/index) **and** [**FAQ**](https://www.reddit.com/r/Superstonk/wiki/index/faq) + +Please review the [**Superstonk Rules**](https://www.reddit.com/r/Superstonk/wiki/index/rules) before commenting or posting on r/Superstonk. + +*Daily discussion threads are created at 4:00 a.m. EDT* +Final update below***** + +This could age terrible but I am convinced the market will not survive another two weeks. Why you might ask……..Kids + +I’ve been tracking school district corona virus dashboards. I haven’t found a district in a major metropolitan area that hasn’t seen a significant increases in both student and faculty populations since opening. I’m talking some as high as 10% current infections less than 10 days into the school year. Politics aside……shutdowns are coming at least for many schools. Which in turn creates the issue of who will watch kids. Hospitals are maxed out in several parts of the country. Politicians trying to look tough saying they are keeping their states open will all crumble when the news cycle is flooded with pediatric covid cases. Nobody wants to see kids on ventilators. Politicians are suppose to kiss babies not kill them. + +This will send markets reeling. This is a terrible reality and not the catalyst I want, but the train is headed down the tracks. + +TLDR: schools open - covid transmission wildfire - hospitals already close to capacity - shutdowns coming - crash coming + + +Edit: obviously very speculative and not meant to debate covid anything. I get some of the hate towards the post. Im looking at this from the perspective of the data shows the game should be over but it’s not. There are multiple counter parties that will be playing damage control from MOASS if they can survive and so any story that can provide some cover or deflect from the fuckery that brought us here would be welcome. Shit this would be the easiet narrative to play the victim card for traditional Wall Street making retail traders the terrible pandemic profiteers. + +Edit 2: this is not financial advice and should not be used to make investment decisions. + +Edit 3: my timeline may have been too tight but today we have seen article claiming delta cases have peaked. I think this is the setup for the gut punch. I’ve seen some districts with very concerning increases today and yesterday. Some as high as 500 new infections reported in a single day which is very alarming. UTSW for example is preparing for hospitalizations to be 3x higher than the surge last year but the market is claiming delta has peaked. Disconnect + +Edit 4: well ICU utilization is now higher than any time since the start of the pandemic but no talk of shutdowns. I might be wrong on this being the catalyst but the situation is grim. Stay safe. Try not to need a hospital for anything. + +Edit 5: Well it’s been 10 trading days since I made this prediction and the market hasn’t crashed. I sincerely apologize if anyone had their hopes riding on this post. This I’m afraid is just another scary indication the market is detached from reality. I’ve never seen multiple school districts of over 50k students running a 10 day average of over 10% absentee and the NICU / PICU utilization is at historic levels. I’m not convinced we have peaked based on numbers I’m seeing vs what the news is touting but again as far as my prediction I was wrong. After MOASS my commitment to doing something substantial towards ending childhood hunger in my area stands. +Citadel owns 1473668 shares of AMD as of February 16th 2021. + +[https:\/\/fintel.io\/soh\/us\/amd\/citadel-advisors-llc](https://preview.redd.it/uew676w54xv61.png?width=1434&format=png&auto=webp&s=8341d97f5254a9778c346ccc8a0e4090e9f96ff4) + +AMD posted their earnings results yesterday after close. + +EPS 52 vs EPS 44 (estimated). Meaning that they did almost 20% above expectations! Yet, the stock price dropped hard and is still dropping. + +https://preview.redd.it/n2kkzldc4xv61.png?width=323&format=png&auto=webp&s=6118c0967c36f5361c0bf3c72b4395073af5839f + +[AMD 5D chart. Friday at 79 and peaked at 90 before Citadel \(an assumption\) started a massive dump today.](https://preview.redd.it/xwdsgdvx5xv61.png?width=646&format=png&auto=webp&s=12ff7615de55e51505a39c5bfaa1c2131fea9afa) + +Who has 798300 calls and 560100 puts on MVIS? Citadel. + +What did MVIS do in the past couple of days? Pumped from 10$ to 31$ and then dumped to 21$ this morning. + +[https:\/\/www.sec.gov\/Archives\/edgar\/data\/1423053\/000095012321002766\/xslForm13F\_X01\/0000950123-21-002766-3228.xml](https://preview.redd.it/6ertegm35xv61.png?width=1317&format=png&auto=webp&s=1dc2f00c061b703c04181f1e0852dc2c593ef192) + +[MVIS 5D chart, Friday at 12$ peaked yesterday at 31$ and now dumped.](https://preview.redd.it/ar419it66xv61.png?width=660&format=png&auto=webp&s=245155e7f5e22cce1173bbe3b16e35092f5518e3) + +Let's see what else these guys have... + +Tesla: + +20M calls + +18M puts + +what did Tesla do this week? + +https://preview.redd.it/hlspp5op5xv61.png?width=1318&format=png&auto=webp&s=127e335b7a6efafd333cf2560db78eaa8980bef8 + +Tesla over the last 30 days went from 600 to 745 and in the last 5 days it started dropping. + +And all of that despite the news that their had a fantastic quarter and also that they managed to profit with over 100M+ in their BTC sale. + +https://preview.redd.it/mtih0rwr6xv61.png?width=654&format=png&auto=webp&s=cb5028223bc36b4e825159f5514015fb7f4ed16e + +Now I'll start choosing completely random Citadel holding from their 13F. + +ABT + +1,1M calls + +937k puts + +https://preview.redd.it/s34a8cf77xv61.png?width=1311&format=png&auto=webp&s=06d20e130fddabebe0878dae402a00c393874a49 + +[5D chart. Looks very similar to one of them wash sales everyones been talking about...](https://preview.redd.it/0uq6klee7xv61.png?width=647&format=png&auto=webp&s=319fe1be3ffaf949d0570e55d9c599d8038e8a2b) + +ATOS - penny stock + +oh look, another pump and dump + +https://preview.redd.it/p1ufwg208xv61.png?width=1205&format=png&auto=webp&s=1f1e754a81a08e8a91e527381b595575927b1df7 + +[13F is from Feb 16th meaning that it lines up nicely in the timeline.](https://preview.redd.it/r3g529128xv61.png?width=656&format=png&auto=webp&s=902629ae4a1bfeab095dafc2ea1b0ffa6fcf733b) + +Citigroup + +oh crap, someones puts are losing them money... + +https://preview.redd.it/c9pbs86g9xv61.png?width=1236&format=png&auto=webp&s=63e103cbc53e5d3fc8f8eaac6bab271f7bc50ecd + +https://preview.redd.it/wkbmkgsh9xv61.png?width=651&format=png&auto=webp&s=2a2469e1331699ab60a84bf8fb3e9b4d520440bb + +Pinterest + +Another oof for Citadel! what happened here? Just your casual 9$ drop, nothing to see here + +https://preview.redd.it/9pef8zsnaxv61.png?width=1217&format=png&auto=webp&s=b654472de3427fc6e84ee1588c2a496e20a9cfa0 + +https://preview.redd.it/vbtdkq6laxv61.png?width=663&format=png&auto=webp&s=80e1261755dd3f2122fc578ca525b1cc88087698 + +Spotify + +And another one! Damn Ken! 26$ drop + +https://preview.redd.it/qhvc6q50bxv61.png?width=1201&format=png&auto=webp&s=d11f997d12a4298249fe3f07cce9bed95d1a0e26 + +https://preview.redd.it/v5h0ix31bxv61.png?width=669&format=png&auto=webp&s=c593010136336be5682425070d9d0b1578f32aec + +TA:DR - Ken is fukd. + +&#x200B; + +EDIT: All 4 companies are on their balance sheet per the latest filing. Observe the 1 minute chart which I highlighted. + +https://preview.redd.it/bfug86ubzyv61.png?width=1551&format=png&auto=webp&s=725b4109db22f4460c383ecf04992e4a87b877e5 + +EDIT2: BTC is making a massive sudden dump as soon as the market closed + +https://preview.redd.it/fipdw0jj3zv61.png?width=329&format=png&auto=webp&s=4fc1aca9f0189916a37108024c1d465816e9202d +Welcome to the Daily General Discussion thread of /r/EthTrader. + +Find the latest Daily Altcoin Discussion thread by selecting the top result on this [search page](https://www.reddit.com/r/ethtrader/search?q=Daily+Altcoin+Discussion&include_over_18=on&restrict_sr=on&t=all&sort=new). + +*** + +The thread guidelines are as follows: + +- Please refrain from discussing non-Ethereum related tokens here. You are welcome to discuss altcoins in the Daily Altcoin Discussion thread. +- All sub rules apply here so please review our **[rules page](https://www.reddit.com/r/ethtrader/about/rules/)** to become familiar with them. The rules page is also linked in the announcement bar above. +- If the top page becomes overloaded with memes, all but the top two voted may be removed. If we need to remove a bunch of memes from the top page, post memes in this thread first and upvote the best so the mods know which ones to keep + +*** + + Resources and other information: + +* Newcomers who have basic questions about Ethereum can find answers by visiting /r/EthereumNoobies or our Ethereum Education wiki page, [see here](https://www.reddit.com/r/ethtrader/wiki/education). + +* To view live streaming comments for this thread, [click here](https://reddit-stream.com/comments/auto). Account permissions are required to post comments through Reddit-Stream.com. + +*** + +Enjoy! + +I paid off a couple thousand in CC debt a couple months ago and have been on top of my bills/starting to save even. But I still struggle with never buying anything for myself outside of groceries and spending on pet care. It feels like a mental condition or some sort of trauma from struggling to pay bills for so long. Is this a pretty common feeling? +Flying Corgi is the next memecoin with great 100x potential. + +This is coming from the same marketing team that did Bonfire and Solano. + +Have you seen those coins, have you seen those graphs? + +They made a $100 investment at start turn into $500K. FORGI is launching today 2PM EST. + +&#x200B; + +The best part? There is a BIG AIRDROP running right now. + +&#x200B; + + 💧 Tokenomics: 💧 + +&#x200B; + + ✅ Only 25K market cap. + + ✅ 83% LOCKED AIRDROP – 1 week locked + + ✅ 7% Team – Team has already announced they will burn their tokens. + + ✅ 10% Liquidity Pool at start locked + + ✅ 15% Fee on Transactions goe DIRECTLY in liquidity pool! + +&#x200B; + +Sign-up for airdrop here: + +&#x200B; + +Twitter: [https://twitter.com/FlyingCorgiCoin](https://twitter.com/FlyingCorgiCoin) + +&#x200B; + +This is EPIC. It means the coin will pump hard and fast, because no short term holders are rewarded. 2% Fee of transactions GOES BACK TO HOLDERS! – This is huge, so you hold and gain more and more coins from ppl that sell early. As I said I came with Bonfire and Solano and I warned you guys, most didn’t listen. FORGI is running an airdrop, you can get in before the launch at 2PM EST. If you don’t get AIRDROP, I highly recommend trying to buy super super early. Beware they have whale protection in place and transactions are limited, so you can’t buy huge amounts. $100 in this coin will potentially make you a multi millionaire if you are early enough. + +&#x200B; + +Website: [https://flyingcorgi.finance/](https://flyingcorgi.finance/) +Welcome to the **/r/EthTrader** Daily Discussion thread. The thread guidelines are as follows: +*** + +- Discussion topics include but are not limited to general discussion on Ethereum, details related to events of the day, technical analysis, alternative Ethereum projects, and minor questions. +- Breaking news or important content should be submitted as a separate post. +- Be excellent to each other. + +*** + +Thank you in advance for your participation. Enjoy! + +Hello everyone! + +Over the past week, even the past months I am being tagged in Superstonk posts because there has been a username confusion. + +The user you are looking for is u/elegant-remote6667 + +And not myself + +Unfortunately my karma is not high enough to comment here and therefore a lot of you are hoping for answers you will never receive, I also know nothing about stocks. + +Just wanted to clear that up have a wonderful rest of your days! + +Edit: can’t comment so imma answer some questions: I never minded being tagged, I just felt bad that a lot of you wanted stuff archived by u/elegant-remote6667 and were then seemingly ignored because I was the wrong person and every attempt I made to reply to correct you got blocked by the auto-moderator. + +This post was approved by a mod after I messaged them so thank you so much to them! + +I love that so many of you want me to seemingly join but I also get the vibe I’ve walked into a gingerbread house. + +Thanks for awards and for the link to a post from a guy asking to be banned which made me laugh 😂 I’m one of those folk that doesn’t interact with Reddit much and just lurks. + +I don’t know who Ryan Cohan is + +Edit 2: + +Couple of people asking what I mean by “walking into a gingerbread house” this is in reference to Hansel and Gretal, as in this is a trap (in a joking way ofc) + +Edit 3: + +Ironically I can now comment thanks to this post +I read somewhere (probably here) that this might be the cheapest way to own a car: Buying a shit car, driving it until it breaks and then getting another shit car. + +The math looks like it works out great, but I'm not a numbers guy. Can anyone confirm this idea, or tell me why it's too stupid to do? + +Just to be clear, I can afford a much better car right now, but would rather use my savings for other things - like saving. +Welcome to the Daily General Discussion thread of /r/EthTrader. + +*** + +Thread guidelines: + +- Please refrain from discussing non-Ethereum related tokens here. You are welcome to discuss altcoins in the Daily Altcoin Discussion thread. +- All [sub rules](https://www.reddit.com/r/ethtrader/about/rules/) apply here so please be familiar with them. + +*** + + Resources and other information: + +* Find the latest Altcoin Discussion thread in [this search listing](https://www.reddit.com/r/ethtrader/search?q=author%3Aautomoderator+title%3Aaltcoin&include_over_18=on&sort=new&t=all). + +* Newcomers who have basic questions about Ethereum can find answers by visiting /r/EthereumNoobies or our Ethereum Education wiki page, [see here](https://www.reddit.com/r/ethtrader/wiki/education). + +* To view live streaming comments for this thread, [click here](https://reddit-stream.com/comments/auto). Account permissions are required to post comments through Reddit-Stream.com. + +*** + +Enjoy! + +(this is a second half of Pt 1 of the endgame series, find the first half of Pt 1 [here](https://www.reddit.com/r/Superstonk/comments/o4vzau/hyperinflation_is_coming_the_dollar_endgame_part/)) + +**Dollar Hegemony** + +Ok, let’s go over this for a second. Let us say you are the President of a country like [**Liberia**](https://en.wikipedia.org/wiki/Liberia), a small West African nation, looking to enter global trade. You go talk to the International Monetary Fund, whose economists tell you in order to be a modern economy you need to have your own currency. Thus, you need a Central Bank to print your own currency (LD), which will be used as [legal tender](https://www.investopedia.com/terms/l/legal-tender.asp), enforced by your government. Your Central bank will act as a lender of last resort for all the commercial and investment banks in your country, and will be responsible for stabilizing monetary policy. + +But, there’s an issue-the economists tell you that you CANNOT have your Central Bank store up your own currency as the majority of its [foreign exchange reserves](https://www.investopedia.com/terms/f/foreign-exchange-reserves.asp). Why? Well, if your currency comes under attack in the global [Forex](https://www.investopedia.com/terms/forex/f/forex-market.asp) markets, you will have to defend it. If your currency trade value is too high, it’s easy to fight- you just print your own currency and buy Euros (EU) or Dollars (USD), flooding the market with your currency and taking other currencies out of the market- “[devaluing your currency](https://www.investopedia.com/terms/d/devaluation.asp#:~:text=Devaluation%20is%20the%20deliberate%20downward%20adjustment%20of%20a%20country%27s%20currency,can%20help%20shrink%20trade%20deficits.)” . + +However, if the inverse is true, and your currency is losing value in the market, printing more to flood the market will only make it worse. You need a stable currency, like bullets in the chamber, to utilize to buy your currency at the market rate, to support its value and drive it back up. This form of currency defense is called “defending the [peg](https://www.investopedia.com/terms/c/currency-peg.asp)” (Post-1971, the peg is floating, so it’s more of a range, but it's still referred to loosely as a peg). + +This exact phenomenon played out during the[ Asian Financial Crisis](https://www.thebalance.com/what-was-the-asian-financial-crisis-1978997) of 1997, a classic case study in global monetary crises. Thailand had grown rapidly as world trade boomed in the 1980s and 90s, and its corporate and real estate sectors took on massive amounts of debt. A massive real estate and financial bubble formed (does this sound familiar)? Soon, the bubble started to pop: + +&#x200B; + +[Thai Financial Crisis](https://preview.redd.it/fbnpc1k7nm671.png?width=777&format=png&auto=webp&s=717ebf418b3ee627e15013c5a3dfab22f9fb8c0a) + +Thailand’s hand was forced, and the Thai Central Bank decided to devalue its currency relative to the US dollar. This development, which followed months of speculative downward pressures on their currency that had substantially depleted Thailand’s official foreign exchange reserves, marked the beginning of a deep financial crisis across much of East Asia. + +In subsequent months, Thailand’s currency, equity, and property markets weakened further as its difficulties evolved into a twin balance-of-payments and banking crisis. Malaysia, the Philippines, and Indonesia also allowed their currencies to weaken substantially in the face of market pressures, with Indonesia gradually falling into a multifaceted financial and political crisis. + +&#x200B; + +[Asian Financial Crisis](https://preview.redd.it/0gh1phi9nm671.png?width=779&format=png&auto=webp&s=454d0bab7fd2d0b8df84b5fc600cb53253319d05) + +As the president of Liberia, you see what can happen when a country, especially a small third-world country, doesn't have enough dollar reserves to defend its own currency. Rippling currency devaluations, inflation, social and political unrest, widening economic inequality- the beginning of a death spiral of a country if you aren’t careful. + +So, you tell the IMF that you agree to their terms. They impress upon you that you need to get your bank to buy up some other stable currency to hold as reserves, to defend against this very scenario. As the US dollar is the World Reserve Currency, you’re going to hold it as the majority of your reserve position. + +We’ve established the need for a small country to hold another currency on their balance sheet. If ONE small country does this, there is little impact on the US Dollar. However, under the current system, virtually [EVERY](https://faisalkhan.com/central-banks/) country has a central bank, and they all use the Dollar as their main reserve currency. This creates MASSIVE buying pressure on Treasuries. Using Liberia as an example, the process works like this: + +&#x200B; + +[Dollar Recycling](https://preview.redd.it/ui054o3bnm671.png?width=806&format=png&auto=webp&s=53c4f55e236b5c840a59a67d974df35b085c294b) + +**THIS** is what French Finance Minister Valéry Giscard d’Estaing meant when during the 1960’s he had contemptuously [called](https://www.brookings.edu/blog/ben-bernanke/2016/01/07/the-dollars-international-role-an-exorbitant-privilege-2/) this benefit the US enjoyed *le privilège exorbitant*, or the “[Exorbitant privilege](https://en.wikipedia.org/wiki/Exorbitant_privilege)”. **He understood that the United States would never face a**[ **Balance of Payments**](https://en.wikipedia.org/wiki/Currency_crisis) **(currency) crisis (\*AS LONG AS THE USD IS THE WORLD RESERVE CURRENCY\*), nor a debt crisis, due to forced buying of Treasuries (from Central Banks) and Dollars (from Petrodollar systeem).** + +**The US could borrow cheaply, spend lavishly, and not pay for it immediately. Instead, the payment for this privilege would build up in the form of debt and dollars overseas, held by foreigners all around the world. One day, the Piper HAS to be paid- but as long as the music is playing, and the punchbowl is out, everyone gets to party, dance & drink to their hearts’ content, and the US can remain the**[ **belle of the ball**](https://www.merriam-webster.com/dictionary/the%20belle%20of%20the%20ball)**.** + +Effectively, the US can print money, and get real goods. This means we can import consumer products for cheap, and the inflation we create gets exported to other countries. (ONE of the reasons why developing countries tend to have higher inflation). [Another way to explain it:](https://whatismoney.info/exporting-inflation/) + +&#x200B; + +[Exporting Inflation, importing goods](https://preview.redd.it/cdv48oqcnm671.png?width=782&format=png&auto=webp&s=919ec0bf7363987a0a9b0454db0fd3e7df5bcf2c) + +As it is the WRC, other countries' Central Banks NEED to have US dollars on their balance sheet. Thus, the US has to run persistent [current account deficits](https://www.investopedia.com/ask/answers/010715/what-difference-between-current-account-deficit-and-trade-deficit.asp) in order to send out more dollars to the global system, on net, than it receives back. A major byproduct is [constant large and increasing trade deficits](https://www.stlouisfed.org/publications/regional-economist/third-quarter-2018/understanding-roots-trade-deficit) for the WRC holder (in a fiat money system). + +This is what is known as [Triffin’s dilemma](https://www.investopedia.com/financial-edge/1011/how-the-triffin-dilemma-affects-currencies.aspx): the WRC is HAS to run constant trade deficits. There are no immediate negative impacts, but in the long run this process is unsustainable, as the WRC country becomes unproductive (ever wonder why US manufacturing left) because the system forces the WRC holder to be a net importer. + +As world trade grows, the current account deficit/trade deficit grows, and the benefits (more goods to the US) and drawbacks (more dollars build up overseas) increase over time. Eventually the imbalance becomes so great that something snaps, just like it did for the [Pound post WWI](https://www.economicshelp.org/blog/5948/economics/uk-economy-in-the-1920s/), where policymakers chose the route of deflation in 1921, creating a Great depression for the UK long before the US ever experienced it. + +&#x200B; + +[US Trade Deficit broken down by Goods\/Services](https://preview.redd.it/pktv0cdfnm671.png?width=812&format=png&auto=webp&s=42ab9b7ea8502e518371bd8dcfc348d65344d040) + +This is why I laughed out loud when I heard Trump rail against our trade deficits in one of the 2016 presidential debates. He clearly did not understand how our system works, and that this issue was beneficial in the short term, but detrimental in the long term. Our trade deficits were symptoms of our system working exactly as intended. + +In fact, a large part of the reason why he was elected was the de-industrialization of the American heartland, where loss of economic vitality from manufacturing jobs was leading to rampant [drug abuse](https://blog.questdiagnostics.com/blog/2019/03/29/id-signs-of-drug-abuse-in-loved-one/), depression, and societal decay. I knew this process of deindustrialization [ would only get worse with time](https://www.politico.com/news/2020/10/06/trump-trade-deficit-426805), and nothing he did (short of taking us off the WRC status) would change that. (Not political, other politicians say the same shit. They just don't understand the very system in which we operate). + +Fast forward to today- After decades of this process playing out, Foreign Central Banks collectively hold huge amounts of Forex reserves, as you can see [below](https://www.visualcapitalist.com/countries-most-foreign-currency-reserves/) where countries are sized depending on their reserves of foreign currency exchange assets: + +&#x200B; + +[Central Banks FX Reserves](https://preview.redd.it/m7vql2rinm671.png?width=780&format=png&auto=webp&s=4adf109f9687378684818d67db55c8f74f9fd92d) + +&#x200B; + +The majority of these [reserves are held in dollars](https://www.cfr.org/backgrounder/dollar-worlds-currency), mainly in the form of [Treasuries, T-bills, and other US government debt](https://fred.stlouisfed.org/series/BOGZ1FL263061130Q). Furthermore, the US Dollar continues to dominate global trade through the [SWIFT](https://www.investopedia.com/articles/personal-finance/050515/how-swift-system-works.asp) network (Society for Worldwide Interbank Financial Telecommunication). SWIFT is a payments system used by multinational banks, institutions, and corporations to settle trade worldwide. + +USD is the preferred payment method within the system, thus forcing other countries to adopt the dollar in international trade. This is one of the results of the petrodollar system we described earlier. Petrodollars originally were exclusively used to refer to oil contracts priced in USD from Saudi Arabia, but over time the name grew to mean any oil contract, transacted by non-US countries, using the US Dollar as the denomination. + +&#x200B; + +[Most FX Reserves in Dollars](https://preview.redd.it/7tyu7klknm671.png?width=693&format=png&auto=webp&s=aefe74220376e881f9d9c0db859d0bca8247c85e) + +When Chile and South Africa trade copper, for example, they have to transact in dollars, because a SWIFT member bank in South Africa will not accept Chilean Pesos as payment, as there is a smaller, less liquid market for it and it doesn't want to take a trading loss when converting to a more usable currency. The contract itself is priced in USD, so if that merchant bank wants to sell it, they can quickly find a buyer. In fact, SWIFT itself published a [report](https://www.swift.com/node/19186#:~:text=The%20US%20dollar%20dominates%20as,regional%20currency%20usage%20in%20value.) in 2014, and found that the USD accounts for almost 80% of all world trade! (see top left) + +&#x200B; + +[Currencies as a &#37; of Trade](https://preview.redd.it/fspge6omnm671.png?width=752&format=png&auto=webp&s=272a005bae77aee91dc1a83b9febdafb20b2dd2c) + +This process is called dollarization, whereby the dollar is used as the medium of exchange for a contract, in place of some other currency, even between non-US trading partners (Iran and China for example). [Dollarization](https://www.investopedia.com/terms/d/dollarization.asp#:~:text=Dollarization%20is%20the%20term%20for,due%20to%20hyperinflation%20or%20instability.) (capital D) of a country occurs when a government switches from managing their own currency to just using the US dollar for trade settlement and tax revenue- like Ecuador, El Salvador, and Panama have [done](https://www.coha.org/examining-the-effects-of-dollarization-on-ecuador/). + + The US Dollar reserves from the petro-dollar system show up on the balance sheets of these overseas financial institutions; they are called [Euro-Dollars](https://www.investopedia.com/terms/e/eurodollar.asp), and these [USD denominated deposits](https://capitalistexploits.at/eurodollar-market-it-all-starts-here/) are not under the jurisdiction of the Treasury or Federal Reserve. If you want to read a brief history of the Euro-dollar market, check out this paper from the Federal Reserve bank of St. Louis [here](https://files.stlouisfed.org/files/htdocs/publications/review/80/06/Eurodollars_Jun_Jul1980.pdf). In 2016, the total value of the Eurodollar Market was estimated to be around [13.83 Trillion](https://www.nedbank.co.za/content/dam/nedbank-crp/reports/Strategy/NeelsAndMehul/2016/September/TheRiseAndFallOfTheEurodollarSystem_160907.pdf). + +Through this process, the United States was able to become the [largest and most dominant military force](https://www.nytimes.com/interactive/2017/03/22/us/is-americas-military-big-enough.html) in the history of man, able to fight simultaneous two-theater wars with overseas supply lines. The Treasury could borrow and spend, unimpeded by the normal constraints of market discipline that were hoisted on other countries. Despite not declaring war since 1941, the US has been in a state of [near-continuous warfare](https://en.wikipedia.org/wiki/List_of_wars_involving_the_United_States). + +&#x200B; + +[American Military Budget](https://preview.redd.it/smw5l4ugg1a71.png?width=822&format=png&auto=webp&s=b6d6d1b94957aa371040c66f188c456f20fa786d) + +At every turn, the US defended this system at all costs, even going so far as to directly invade and occupy the Middle East in the Gulf War in 1991 and the Iraq/Afghanistan War (2001-Present). As a result there are over [800](https://www.politico.com/magazine/story/2015/06/us-military-bases-around-the-world-119321#:~:text=Despite%20recently%20closing%20hundreds%20of,about%2030%20foreign%20bases%20combined.) US military [bases around the world](https://www.todaysmilitary.com/ways-to-serve/bases-around-world), in locales ranging from Turkey to Japan. American institutions like the Senate, Presidency, and Courts were modeled after their Roman antecedents, to the point that the American symbol, the Eagle, is the spitting image of the [Roman Aquila](https://en.wikipedia.org/wiki/Aquila_(Roman)) adorned on the [Standard](https://en.wikipedia.org/wiki/Roman_Empire_Standards) of the centurions. + +&#x200B; + +[Rome](https://preview.redd.it/ig1pp031g1a71.png?width=764&format=png&auto=webp&s=57ff0e910d0707cc6475c8e4c098eab0634b67fc) + +Most scholars tout the story of Rome as a tale of triumphalism; of valiant centurions battling in the steppes of Asia, of brilliant generals laying traps for enemy armies, of scheming senators fighting battles of political intrigue, and of a sophisticated and well-functioning empire that harnessed engineering to create marvels such as the Colosseum and the Roman Aqueducts. [**More sober historians**](https://www.goodreads.com/book/show/19400.The_Decline_and_Fall_of_the_Roman_Empire?from_search=true&from_srp=true&qid=oZSKjoDHpx&rank=1)**, however, point out that the story of Rome is one that also echoes a warning through the annals of history.** + + **A complex society, with mighty political, legal, and financial institutions, supported by a massive military, fell not to a crushing enemy invasion, but to collapse and decay from within. An elite ruling class, detached from the realities of daily life of the citizens, oversaw an empire with growing income inequality, environmental degradation, political corruption, social deterioration, and economic despair, and did nothing to stop it.** + +**The Roman Treasury, facing insurmountable debts from years of fruitless war, started “clipping coins” an early form of currency debasement that led to the Roman denarii losing 25% of it’s value every year. This eventually led to uprisings in Roman provinces and the** [**Sacking of Rome**](https://en.wikipedia.org/wiki/Sack_of_Rome_(410))**- the coup de grace, the final nail in the coffin for what had become the decadent** [**Western Roman empire**](https://en.wikipedia.org/wiki/Fall_of_the_Western_Roman_Empire)**.** + +\------------------------------------------------------------------------------------------------------------------------------------------------ + +Smooth Brain Overview: + +* Petrodollars: Oil contracts priced in dollars means foreign companies need to have dollars to buy oil. This creates artificial demand for dollars as companies sell their local currency to buy USD. +* Triffin Dillema: As the US is WRC, other countries' Central banks need USDs. US thus runs deficits to push more $ out to the world to satisfy demand. This means cheap goods in the short term, but debt/dollar buildup overseas long term. Because of this, no country can remain WRC holder forever. +* Eurodollars: Due to the petrodollar system, USDs build up in overseas bank accounts. These dollars are used by SWIFT for most international payments, and are called Eurodollars (due to the fact that most US dollars after WW2 ended up in Europe). The size of this market is roughly $14T. +* Foreign Exchange Reserves: Due to the Triffin Dilemma & structure of WRC system, dollars build up in reserve accounts of foreign central banks. Wanting to earn interest on this cash, CBs invest in treasuries, effectively lending to the US Govt at low interest rate. [$4T of these treasuries](https://fred.stlouisfed.org/series/BOGZ1FL263061130Q) are held by these CBs, and [$2T of these treasuries](https://fred.stlouisfed.org/series/BOGZ1FL263061145Q) are held by private institutions. + +Conclusion: + +If the US loses World Reserve Currency status, two things happen. 1) Foreign central banks start massively dumping their [huge Treasury/Dollar debt positions](https://fred.stlouisfed.org/series/BOGZ1FL263061130Q) and 2) SWIFT member banks who hold USDs for cross-border payments (EuroDollars) decide to dump them as they see the writing on the wall and see the value of their assets decreasing by the day. This is the one of the many [Swords of Damocles](https://idioms.thefreedictionary.com/a+sword+of+Damocles+hangs+over+head) hanging over the global financial system. + + The unraveling of these massive currency positions would truly be catastrophic. Interest rates could effectively jump to +30% or more overnight, creating an immediate solvency crisis for the US Government and most banks, corporations, and state governments who rely on low interest rate borrowing. [DXY](https://en.wikipedia.org/wiki/U.S._Dollar_Index) would be whipsawed violently before being forced downward by massive selling pressure from the Eurodollar market. Other currencies would be pulled higher and then lower in volatile moves matching the worst days of the early Nixon crisis. But, this is only part of the story. We will come back to this later. + +\------------------------------------------------------------------------------------------------------------------------------------------------ + +Epilogue: + +We’ve gone over a brief history of the Bretton Woods system, and it’s transformation to a complete fiat money system starting in 1971. The US as a World Reserve Currency holder is allowed to borrow almost indefinitely without immediate consequence, but this creates massive amounts of US dollar debts overseas. The last time global creditors started to lose faith in the US dollar, we saw massive inflation, unemployment, and stagnation in the US, in a period of rapid demographic and economic growth in the rest of the world. If creditors become worried again, and signs are showing up that they are (more on this in PT4) the results could be catastrophic. + +# BUY, HODL, BUCKLE UP. + +# >>>>>>>TO BE CONTINUED >>>>>>> PART TWO + +&#x200B; + +**(Adding this to clear up FUD- My argument is for hyperinflation to begin in a few years- this is a years- long PROCESS, and will take a long time to play out. It won't happen tomorrow, but we are in the same situation as Germany after WW1. Hyperinflation is GOOD FOR GME--- DEBT VALUE COLLAPSES, MONEY CHASES ASSETS (EQUITIES) pushing the price UP, so shorts will have to cover) BUY AND HOLD.** + +*Nothing on this Post constitutes investment advice, performance data or any recommendation that any security, portfolio of securities, investment product, transaction or investment strategy is suitable for any specific person. From reading my Post I cannot assess anything about your personal circumstances, your finances, or your goals and objectives, all of which are unique to you, so any opinions or information contained on this Post are just that – an opinion or information. Please consult a financial professional if you seek advice.* + +\*If you would like to learn more, check out my recommended reading list [here](https://docs.google.com/document/d/1nSw9odLoExaq0oEBqIHrCK1Xj5KfyjBkGQZ93LTh34g/edit?usp=sharing) +So, for context, I would consider myself a political and philosophical hobbyist, with little to no real economic knowledge. I have been attempting to change this by opening up to reading some more economic-centered books. I picked up "The Deficit Myth" by Stephanie Kelton on a whim and began to read what seemed to be a "too good to be true" economic argument. As I do not have the economic background to fundamentally check the claims of the book I have come here to ask for some criticism of what claims it seems to me the book is making. I tried to search online for these criticisms but most of the criticisms looked like strawmen arguments against the claims and a general "Leftists are dumb" take. + +The claims. + +1. As the producer of the fiat currency and the possessor of a large amount of economic freedom, the United States has a fundamental difference when it comes to budgeting from a home or business. We don't care about a deficit, because we can always print money to fill funding obligations, what we really care about is inflation. +2. The government isn't interested in getting money back for taxes, as we don't need the money. What the government plans to do with taxation is to distribute a currency then place a tax that incentivizes production within the economy to earn that currency to escape legal action (going to jail etc.). +3. The Fed uses interest rates to affect unemployment and business investment to control inflation. This is not only arguably ineffective but also is inherently wrong as it leaves people without employment. +4. Instead, we should use Fiscal Policy to influence inflation via cutting taxes when inflation is low and raising them when it is high. This would allow the economy to operate at our "full employment". +5. In order to provide a safety barrier for when Fiscal Policy cannot get passed in time, we should provide a federal jobs guarantee. This also helps provide a metric as to how well the economy is utilizing its resources by virtue of how many people take part in this program. + +Yea these are what I pulled out, like I said I'm pretty economically illiterate. If anyone takes time to respond to this thank you, and if this is not appropriate for this subreddit then I apologize. +I heard in a secondary source (a YouTube lecture) about Milton Friedman's argument against income or wealth inequality. It went something like: the more inequality exists, the lower the aggregate is of utility curves... or something like that, I didn't really follow. I searched for what Fredman wrote but didn't find anything about utility. Does anyone remember this argument I am referring to? Thanks and sorry for the lack of sources. +Good morning and happy Monday Apes, + +Disclaimer: I'm nobody and an idiot so you do you. This stock is awesome tho. + +&#x200B; + +**TLDR: The changes proposed to Tax Laws would be effective December 2021 with the exception of the proposed change for Capital Gains which would be retroactive to April 2021.** + +Soruce: [US Treasury](https://home.treasury.gov/policy-issues/tax-policy) +[General Explanations of the Administration’s Fiscal Year 2022 Revenue Proposals](https://home.treasury.gov/system/files/131/General-Explanations-FY2022.pdf) +[^(Whale Teeth For MOASS)](https://www.reddit.com/r/Superstonk/comments/p3q1ka/whale_teeth_killed_the_dinosaurs/?utm_source=share&utm_medium=web2x&context=3) + +Published May, 2021. That's important. + +[Published May 2021](https://preview.redd.it/diwjeoawdqh71.jpg?width=548&format=pjpg&auto=webp&s=40e8867025ac9aa70b49542be69ba80db51ef6e1) + +# Reform Capital Gains Tax + +The short layman: Currently, taxes on gains fall into 2 classifications. Short Term and Long Term, with Short Term being taxed much higher and Long Term taxed within your applicable tax bracket. + +This proposed change says **all gains, long and short** will be taxed at the higer rate for anyone who makes over $1Million income. + +What's neat about this? It's proposed to be effective RETROACTIVLY. + +**Likely April/May 2021.** + +&#x200B; + +>*" This proposal would be effective for gains required to be recognized after the date of announcement. "* + +This *announcement* is the very document before you. [General Explanations of the Administration’s Fiscal Year 2022 Revenue Proposals](https://home.treasury.gov/system/files/131/General-Explanations-FY2022.pdf) + +[I wonder why Uncle Sam would want to roll the clock back on this specific change.](https://preview.redd.it/63bipoc8eqh71.jpg?width=559&format=pjpg&auto=webp&s=080bd9c68e5a74be31da38d7fa9abfe4cd5154d7) + +# The other changes are NOT retroactive. + +[The proposed changes for higher income would be effect December 31. Not \\"after the date of announcement.\\" ](https://preview.redd.it/jnjn2f0bgqh71.jpg?width=517&format=pjpg&auto=webp&s=386befc0c66aef75107dd5514e73cbed68e845bb) + +I'll close with this. My tits are jacked and PROUD to pay my taxes to improve my country. We are all clearly aware of systemic issues and it does hurt to feel like you're paying into a system that's failing it's people. However, change needs to start somewhere and I personally believe the 1% should indeed be taxed much higher than the rest of the world. + +I will be just fine with my giant sum of money after being taxed a giant some of money. + +^(Whale Teeth For MOASS) +Hey there, + +&#x200B; + +Sorry if this has been mentioned before, but I have a question about a financial planner group in my state. An old friend of mine got a job as a financial planner and she's been reaching out to old friends to get them on board. + +&#x200B; + +First, I had a call with her and her boss. He asked/talked to me basic financial status and goals. When I asked him about the service, he was very vague. Then they set up another call where they were a bunch of my info like salary, savings, 401k, etc. Nothing too personal. However what really irked me was when I asked over and over and over what they were offering or the service they were offering, I couldn't get a straight answer. The only thing I got was something along the lines of, "putting together something for me. It doesn't cost anything but they don't want me to take it to another firm." They also sell insurance. + +&#x200B; + +It all feels like a scam to me. I know its not because the employees have their licenses, but come on. She can't even explain to me in one or two sentences what she does or what they are going to do for me. + +&#x200B; + +Am I missing something? +Hi guys, I'm new to the world of algo trading which I must say I am falling in love with more and more everyday. I have 2 questions for the community. + +First off, a little background about me, I am a second year BCOM student who runs a garage band analytics company on the side for some medium sized ecommerce ventures. My partner handles most of the heavy lifting as far as programming and ML, but I have a working knowledge of most basic statistical analysis concepts (PCA matrices, multiple regression, data preprocessing and hypothesis testing). Im currently learning python, namely pyfinance applications such as NumPy, Pandas Matplotlib etc. I am also develoing a knowledge in quantitiative finance as I am also planning to study stochastic calculus and greater develop my knowledge of econ. + +I have been trading equities for a while now, so I am a little pre-disposed to trading stocks and options. I am also open to trading futures and forex, however I have some reservations regarding forex as it was the centre of more than a few MLMs at my university. I have also been advised to avoid forex from an older traditional trader friend, likening it to a toilet to flush your money down. + +I have very realistic expectations, I dont expect to have a Renaissance Tech level black box ready to print money in a few weeks, but I would like to get paper trading as soon as possible, and hopefully in a year or so have a creative algo. At this point im more in love with the idea of making an algorythm and strengthening my knowledge of the market rather than making fast money. I am open to trading all three securities algorythmically. I am just wondering which is the easiest for a begninner to develop an understanding of. + +I am also wondering what platform the community reccomends for trading. I plan on coding my algo with python (likely switching to C++ down the road for efficency), so I'd like one with a solid API for python as I know IB is mostly for Java. I also want one with good paper trading, as thats how I plan to learn once I complete my studies in python and quant finance. + +Thanks for reading and any response will be greatly appreciated. +https://content.ftserussell.com/sites/default/files/russell_microcap_deletions_-_2021.pdf + +Ranking day when the preliminary Reconstituion portfolio was ranked was back on May 7th. At that time GME would have made the Russell 1000 cut by market cap. The remaining Russell Index final announcements are today and next Friday. + +https://www.ftserussell.com/resources/russell-reconstitution + +I am thinking the Russel 2000 official announcement showing GME exiting the Russel 2000 will happen today, and the announcement adding GME to the Russell 1000 will be either today or next Friday. All of the ETF underlying stock buying/selling will happen on Reconstition Day after market close June 25th, where between 3-5 times the daily trading volume gets traded. That’s one volatile trading day. Some wrinkle brains have commented on implications on GME already. Buckle Up!! +So I’m 32 years old and have been investing since I was 24. Essentially I’ve been taking the S&P 500 index fund route for the last 8 years ($1k per month while I pay down student loans). + +My wife and I will finally be done with our student loans in December of this year, and as such will be increasing our monthly contributions significantly. + +We’ve always talked about retiring early, and have begun planning how to save up a large enough nest egg so that we can live off the interest/dividends in perpetuity. + +She’s mentioned investing into the dividend aristocrats ETF. However, we’re both high earners and don’t need the cash. And as I understand, re-invested dividends are still treated as taxable distributions. The amounts we’ll be investing are much too high to be in any tax qualified account. + +So my question is what benefits are there to dividend investing in our brokerage account versus staying the course of index investing and lowering the tax drag, converting to dividend aristocrats when closer to early retirement? + +In case it matters we’ll likely be investing at least 20k per month, so imo the tax drag could be significant as opposed to the index fund. + +Any advice would be very much appreciated. First time post, long time lurker +There is a pump and dump set for this Friday I suspect from the same group that did [this](https://www.reddit.com/r/CanadianInvestor/comments/o1xmao/psa_utme_pump_and_dump_targeting_canadians_this/) I obviously don't have much more then the time at this time but can try to send out another warning on Friday when I have more details. + +From all the research I've been able to do there is no way for me to stop or worse even profit from this. + +Here is my story from last time: + +> So a few weeks ago I was contacted over whatsapp by this beautiful Chinese girl. We got to talking she sends me pictures everything is "normal" (well ya I knew I was being scammed but I wanted to see what scam I was getting into). Then She tells me about her uncle that works at chase manhattan bank and he has stock tips. Ok... so looks like I'm part of the pump and dump scam cool cool never been part of one of those, so check that off my bucket list. So she tell me to buy HAPP it's at $1.70 or something and I'm like sure I'll buy (I don't obviously) but she keeps pressuring me... nothing really happens though it just goes to like $1.60 or something. Like wtf I thought I was part of a pump and dump scam not a make bad investment scam cmon. + +> Then yesterday on the 16th she tell me she will get another "tip" and I should buy. And you know what I'm thinking? I'm thinking shit I should short this mofo. So this morning at like 6am my time 8am market she says I should buy UTME. Well I look at UTME and a few days ago it's at $40 and now it's at $60 wow. So do you know what my dumb ass did? My stupid ass did... nothing :( I wanted to short the stock but there was that one little inkling and I didn't. And wouldn't you know... it's at what... $16 now... idiot... why didn't I listen to her and short... well serves me right I guess. + +> Granted I suppose that would be "insider" trading? Or if I did short it would that be legal? Anyone know? + +> How funny would it have been if she asked to see the number of shares I bought and I showed her my short position? lol + +> Anyhow my buddy who is better at google them me found this so it's working and I think I used the ticker enough. + +> I hope she can string me along more... should I post the "stock tips" here for you guys? Or is that illegal? I don't even know anymore... + + +Since that last encounter I've learned there is no way to short any of these stocks. +Any goods stocks related to the rising inflation. The CPI index for Canada came in at 3.4% YoY. +I know that Oil stocks such as TOU are a good buy for short term gain potential and gold stocks to hedge against inflation, how about other stocks ? +Also any thoughts on the current levels of Shiller PE ratio for the S&P 500 index ? +Introducing Baby Satoshi: the first & only BITCOIN reflection token 🚀 + +Since the last post was made on Baby Satoshi the market cap has almost tripled and is now sitting at $1.4M, almost triple since this token was last posted about on CMS. Baby Satoshi is also current trending on Dex Tools top trending #6. The dev has talked about Btok marketing coming soon and tweets from big influencers like LilMoon and others have been happening regularly. + +The marketing budget for this token is huge and the team is ready to take it 100m with the right team and marketing behind it. Baby Satoshi is the first token to get listed on CMC and CG in under 6 hours and the liquidity pool of $400,000 for a $1.4 million market cap token is too good. This has potential to go to 10m+ easily. Im calling it here now get in and start earning BTC as passive income. + +Love it or hate it, 🪙 Bitcoin has become synonymous with the cryptocurrency world — but if we hope to survive the tumultuous market unscathed, we need to get a little creative. That’s why we made BabySatoshi on BSC. BabySatoshi is the first and only token that automatically pays holders with Bitcoin reflection rewards. + +Why Bitcoin? Everyone knows that Bitcoin is king. The halving jumpstarts the bull market every few years. Altcoins' success is dependent on Bitcoin market sentiment. Everyone's trying to stack those sats and accumulate more Bitcoin. When the market starts tanking, Bitcoin tanks much less than other altcoins, making it the perfect crypto to collect. The best part about BabySatoshi is that you accumulate more Bitcoin when it's cheaper, so you benefit more during bearish conditions. So, it seemed like a no-brainer that Bitcoin would become the perfect payout incentive. tl;dr If you believe in Bitcoin, you better believe in BabySatoshi as well. + +Tokenomics Total supply is 100,000 $SATS. No more can be minted. + +Initially Baby Satoshi had a 8% distribution to holders but upon building a bigger liquidity pool has increased rewards to 11% for holders! So now you get even more BTC for holding baby Satoshi? + +Fee breakdown 11% automatically distributed to holders as BTC 4% automatically added to liquidity 3% marketing and development + +Contract: 0xa1d04a189f8b6d5d64e8fea7c38846ab6fa0f823 + +Initial liquidity has been locked for 10 years on UniCrypt. LP Lock: https://app.unicrypt.network/amm/pancake-v2/pair/0x8678319c6876af75cd5bf5e5a720b9a6635d6522 + +No premine. Completely fair launch. BabySatoshi is now trading on PancakeSwap. + +Useful Links Website: https://babysatoshi.app/ Twitter: https://twitter.com/BabySatoshiBSC Telegram: https://t.me/babysats + +Verified Smart Contracts on BSC: https://bscscan.com/address/0xa1d04a189f8b6d5d64e8fea7c38846ab6fa0f823#code +# Welcome to Ultimo GG - one of the first projects on the BSC that has already has an existing company which was established in the UK in 2017.Join Telegram: [https://t.me/ultgg](https://t.me/ultgg) + +🎮 **$ULTGG** is the revolutionary gaming token from Ultimo GG. + +You can see the **Ultimo** **GG** platform which hosts huge gaming tournaments, as the decentralised and crypto version of Twitch - even with similar functions to those offered by YouTube ⚡️ + +💣 Huge Youtube Marketing Campaign Started: + +Onboarded 3x YouTubers that are huge within the PUBG Mobile scene with an combined audience of 2.5+ Millions Subscribers 🚀 + +Integrated video adverts are going out on these YouTuber's videos pushing the platform and $ULTGG. + +ULTGG are also working with these influencers and more to bring them on to the platform when it launches. + +This will push a lot the visibility of the project, especially in the Asian Market, which is one of the main target of these campaigns. + +**Current Situation:** + +1. Listed on CoinMarketCap ( Search for "Ultimo GG") ✅ +2. Listed on CoinGecko ( Search for "Ultimo GG") ✅ +3. Live PooCoin Ads ✅ +4. Listed on CoinHunt - Coin Sniper - DexTools ✅ +5. BTok Advertising to be started soon ✅ +6. Promotion with Martyn Ford (from Fast and Furious) ✅ +7. Made history by sending the First NFT to Space this week ✅ + +2x Championship Football teams to be signed up this week. One will be announced next week with the following the week after ⚽️ + +They will have access to all the players, & managers for content & press opportunities, branding on the football kits and stadiums, as well as regular social media support from the clubs. We know how loyal football fans are to their team - this will be a huge move from the Ultimo GG Team. + +**Buy on PancakeSwap**: [https://exchange.pancakeswap.finance/#/swap?outputCurrency=0x2065e3bd318f155abe5ad6aa263596f197112261](https://exchange.pancakeswap.finance/#/swap?outputCurrency=0x2065e3bd318f155abe5ad6aa263596f197112261) or on their website + +**REAL CONTRACT ADDRESS**: 0x2065e3bd318f155abe5ad6aa263596f197112261 + +***Extra Links:*** + +🔥 **Token Website:** [https://www.ultgg.io](https://www.ultgg.io/) + +🔥 **Platform Website:** [https://ultimo.gg](https://ultimo.gg/) + +🔥 **Twitter**: [https://twitter.com/UltimoGGesports](https://twitter.com/UltimoGGesports) + +🔥 **Merch**: [https://ultimomerch.com/](https://ultimomerch.com/) + +🔥 **Announcement Channel:** [https://t.me/ultggannoucements](https://t.me/ultggannoucements) +I'm so frustrated. They had me working 3 shifts before Christmas but when I checked my schedule today all of the shifts were gone. I asked my manager and they said they had to cut hours. + +I'm already behind on rent and know I won't be paying rent for January until mid-January where my entire student loan refund check will go to back rent. I'm also behind on several other bills and am in need of gas, food and dog food as usual. + +I just turned down another job because I felt I couldn't balance both because this place was finally starting to give me hours. I'm beyond pissed. The fact that I could sit home and make more getting unemployment is crazy to me. + +Thanks for letting me rant as usual... hopefully y'alls days are going better than mine. + +Edit: I didn't expect this to blow up. Thank you for all of your kindness and advice. It also helps a little to know I am not alone. I appreciate you all and happy holidays. +Am American. Am moving to London on a high potential individual visa. Have job offer. + +I'm working out a budget, and - is £2250 (after taxes) a month reasonable for "everything but rent" (excluding savings) living in zone 1-2? (Food, entertainment, transport, utilities - but not travel or savings.) + +That's about $500 less than I tended to spend in San Francisco, so no, I am not frugal, but my impression is that things are less expensive in London than SF. (For a start, I expect to save about $300 a month by not having a car.) +**A Valuation of Boohoo Group PLC. (LON:BOO) on 20 October 2020** + +Check it out and subscribe: [https://thecontrariancapitalist.substack.com/p/valuation-boohoo-group-plc](https://thecontrariancapitalist.substack.com/p/valuation-boohoo-group-plc) + +Boohoo Group PLC is a UK-based online fashion retailer whose target demographic is 16–30-year-olds. + +**Story** + +Boohoo has been grabbing headlines for both the right and wrong reasons this year. + +On the one hand, the company is benefitting from the rapid shift to online retailing which has been accelerated by the pandemic. + +On the other, there are serious governance questions being raised by PWC quitting as auditor, investigations into both working conditions and employee pay, and potential conflicts of interest and tax-fraud investigations into key persons and associates. + +The firm is likely to continue their rapid ascent, albeit at a slightly reduced pace. They are increasingly shifting their focus towards acquisitions (Oasis, Warehouse, the remainder of PrettyLittleThings) and horizontal expansion into new geographies and territories (the Middle East most recently). + +This growth strategy is capital intensive compared to the growth from the online retailing business in their current markets and comes with significant reinvestment requirements. + +And, along with this greater size will come increased scrutiny and regulatory oversight of their business practices. + +This coming-of-age will drive operating margins towards the industry average as their fastest-to-market strategy becomes increasingly expensive and difficult. In this vein, there is some chance of penalty/fine from regulators. This could be costly, but shouldn't prove terminal for the firm as they are flush with cash and have plenty of borrowing capacity. + +Growing up can be difficult. + +[Figure 1: Boohoo Group PLC. - Summary Sheet - \[CLICK IMAGE TO ENLARGE\]](https://preview.redd.it/uhh7yscvs9u51.jpg?width=3300&format=pjpg&auto=webp&s=743df56ee34fbf829419dc4b9640cc6ccda27e71) + +&#x200B; + +>I have estimated the shares to be worth £2.51 each. Monte-Carlo simulation suggests that the shares have a 25th percentile value of £2.28 and a 75th percentile value of £2.85. + +As the firm continues to mature I expect they will look to take on more debt in order to reduce their cost-of-capital and free up equity for distribution to shareholders. Currently, less than 1% of the capital stack is comprised of debt. + +The firm can optimise its capital structure by increasing this up to 30%, but although this would decrease their cost-cost-capital, the benefit is marginal. The key point is that they have plenty of room to borrow in order to fund their reinvestment and expansionary dreams. + +In order to maximise shareholder value, Mahmud Kamani and Carol Kane need to clear up the governance and business-practice questions, continue to reinvest in their primary online vertical, and stop drawing the ire of regulators. + +&#x200B; + +[Figure 2: TTM Stock Prices in GBP - \[CLICK IMAGE TO ENLARGE\]](https://preview.redd.it/ez63mon6t9u51.png?width=600&format=png&auto=webp&s=a9d4692856a3becd3e6a24c553afb7ca4b6bdabf) + +As usual, if you find this interesting, please let me know and I will publish more. + +Also, please consider subscribing to the newsletter: [https://thecontrariancapitalist.substack.com/p/valuation-boohoo-group-plc](https://thecontrariancapitalist.substack.com/p/valuation-boohoo-group-plc) + +Peace and love, until next time. +It's well known that UK investors have a 'home bias', and I'm interested to see how this panned out for people. This year the FTSE 100 returned 14.3%, and this appears to include dividends. + +The returns this year have been lower than other markets, but on the flipside the market is still fairly 'cheap' and this should return in higher returns on a cash flow basis albeit offset against lower growth. + +My portfolio is currently weighted 50% to the UK, and my returns this year were 17.2%, albeit with some dividends still outstanding which may slightly move the needle. My invested capital increased by 50% this year, mostly weighted towards the latter end of the year, and I have not adjusted for this. + +I took a fair amount of profit this year. Realised gains were 22%, Divdends 2.15%, but the net unrealised gains year on year were down 7.4% + +What is your allocation to the UK, and how did you do? +This is the official $GME Megathread for r/Superstonk. Please keep ALL conversations contained to Gamestop and related topics. + +**Not enough karma?** Here's a [**quick guide**](https://zapier.com/blog/how-to-get-karma-on-reddit/) on how to get it. + +# [announcements](https://www.reddit.com/r/Superstonk/wiki/index/announcements) + +* Make sure to check the Announcements regularly. 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This entire post represents my personal views and opinions, and should not be taken as financial advice (or advice of any kind whatsoever). I encourage you to do your own research, take anything I write with a grain of salt, and hold me accountable for any mistakes you may catch. Also, full disclosure, I hold a net long position in GME, but my cost basis is very low, and I'm using money I can absolutely lose. My capital at risk and tolerance for risk generally is likely substantially different than yours.* + +So today was rough for those in the GME trade. I, for example, cracked jokes in the comments to my last post about how my remaining GME holdings went from new Lexus money, through Corolla money, and briefly delved to the depths of used golf cart money. At one point I mentioned maybe ending up with a Razor scooter in the end, but luckily ended the day with Polaris RZR type money instead. + +I wasn't paying attention to the pre-market action, but right the start of normal market hours it looked like an avalanche of panic selling. Looking back at the chart, seeing the consistent downward march of price, the gap down into early pre-US market, immediate drop at 7am pre-market, it shouldn't have been too surprising. Likely a number of people who are unable to trade pre-market were just watching their numbers move in the wrong direction for hours before they got the chance to bail, and that's what happened immediately once the option was available. + +In my previous post I had identified $150/$148 as what I thought might be the "retail line of defense". Given the immediate open below, there was no solid support or consolidation around any level, though some hyper aggressive buying put the floor in at $74.22 at around 10:45. I'm honestly not sure what to make of that remarkable move. Likely it staunched the bleeding somewhat, repairing retail morale temporarily. Once that parabolic arc slammed into the LULD halt, price action reversed and resumed a steady march downward. + +So, where does that leave things at this point? With respect to a squeeze, which I've been asked about quite a bit over the past few hours, my concern is the unlocking of so much float, given what I have to interpret as heavy panic selling. As I covered in the Market Mechanics post, locking of liquid float is paramount and today was certainly not a help in that regard. That being said, as I pointed out in that post, locking up the float gets cheaper at lower prices, so we shall see what happens over the next few days. + +So what's next? I don't know, and no one else does either. Yes, that tired old answer I give in just about every post. The thing is, it's true. The events over the past couple of weeks have certainly reinforced that fact to me. + +As with yesterday, I've been variously accused of being a short side hedge fund shill and a long side pumper and dumper, which again I take as indicating a healthy balance. One thing I promise is that I will call it like I see it, and admit to any mistakes I make. + +# Knowledge and Responsibility + +Watching events unfold today had me thinking quite a bit. About the debates across this sub and others, the media, etc. As I've mentioned previously in comments, my purpose in creating this account was to try to help provide some information, education, and a space for healthy discussion for in particular all of the newer traders that were flocking to this particular trade. I've been very happy to read the numerous comments and messages from various people who have expressed that they feel they've been able to learn quite a bit in a very compressed timeframe due to the intensity of focus on the situation. + +I have been told by some that rather than discuss this trade or the mechanics behind it at all, I should simply flat out tell people to stay away because of the risk, and speak of it no more. I have to admit, I was conflicted about this, because the risk is very high, as I've always stated. + +That being said, I believe that participation in the market is one of the most important rights people should have, and equal participation in the market requires knowledge, transparency, and information. You are all free to make our own choices. Whatever others may say, You *will* make your own choices. At least we can try to help each other make those choices with the best information we have available. + +Hah, I managed to keep this post at least a little shorter! As mentioned previously, I will probably have to keep it that way for a while due to real life responsibility. Thank you all in advance for the great discussion. + +Man, rocket rides can sure be bumpy, but it's been the most interesting week in the market I've ever seen. Let's see what the day brings! + +Good luck in the market! +Who says it works? My opinion: If you give a millionaire $1000 he will invest it somewhere, and eventually a bank lends it out at interest to the poor. If you give the poor $1000, they will immediately spend every bit of it. Am I wrong? +I finally had $2,000 in my savings, and then my bird got sick and the vet bill was $139. I have $400 in credit to pay (gonna try to add at least $100 to pay it off faster), and my poor mom keeps sending me checks to help me stay afloat and I’m embarrassed about it. Next week I have to pay for my eye doctor appointment to raise the power for my lenses (cause my insurance doesn’t pay for it), and then I have to pay for the contact lenses as well. + +Working food industry is making me suicidal and where I live it isn’t easy to find a job (NYC). I want to go back to school but I don’t know what to study. I got an associates in liberal arts. I want to get a bachelors for an easy program and find a better job that doesn’t involve working with people. I also want to pay my mom back slowly but at this point it’s not gonna happen anytime soon. I have food stamps and most of the money I spend is on appointments, bird supplies, and bird vet bills. I haven’t treated myself to anything in so long and it’s making me sad. +A few days ago I proposed this idea to randomly buy in and hold until it gets to your desired percentage profit. + + It got downvoted to the ground, but I still coded it. + +[Here it is](https://pastebin.com/pB6kHxSm) + +Its sloppy because it's been tweaked a lot over time. + +It trades on Coinbase Pro + +Play with variables between lines 112 and 119. Feel free to ask questions +The valuation on Tesla is now beyond the absurd. + +Whilst European EV sales explode to presently 19% of all car sales this year, Tesla does not even make the top five EV sellers by company at a lowly 7%. (VW 25%; Stellantis 13%; Daimler 10%; BMW 10%; Hyundia-Kia 9%). + +Tesla, unlike in the US, is simply being outsold by the vast array of alternative BEV models on sale particularly. VW group alone offers the e-up, ID3 and ID4 (ID5 not yet on sale); Audi e-tron, e-tron Sportback e-tron GT and RS e-tron GT; Cupra Born; and Skoda Enyaq + +In China Tesla has been pushed into 3rd place this year by BYD which has seen EV sales grow from 53K Q1; 98K.Q2; 183K Q3. Tesla meanwhile has seen China quarterly sales for 2021 flattish at 69K, 62K and 75K. China will likely sell 3 million EV's this year, half the worlds volume and Tesla sales are flat for the year. Tesla might sell a lowly 9%. + +Tesla dominates the US markets of course, where few EV models are on sale. EV sales might be 3% of automotive sales. + +Whilst investors will assert these stats do not.matter and Tesla's valuation is all about tech, batteries and robo-taxis, it still does not sell any car related tech beyond its own cars. Take up of FSD is a lowly 11%. It still buys it's battery cells. By its own statements it has a level 2/3 driver assist whilst companies like Waymo are already starting to offer level 4/5 robo-taxis in cities like San Fran (a free trial program has commenced). + +With Tesla slipping badly in the two biggest and mature EV markets globally, it's EV mkt share has fallen from near 18% highs in 2019 to 14.7% YTD in 2021. With Europe and China likely to see 20% EV sales, the Tesla domination of global car mkts story is looking utterly flawed, yet its market capitalisation is now than the entire companies combined that sell 99% of cars and are adding EV's faster. + +Tesla is frankly trading at utterly ludicrous levels given the clear reality of global EV market growth. + +(These figures all verifiable with CleanTechnica and InsideEVs) +I'm new to investing. Mid 20's, looking to set it and forget it long-term. Would 70% VOO, 20% VXUS, 10% QQQM be viable? Any feedback or suggestions are welcomed. Thank you. +Your markets are run by bots. Now your daily threads are too. + +&#x200B; + +This thread is for plans and thoughts prior to the market open period. + +Maybe use this time to read the [wiki](https://www.reddit.com/r/asx_bets/wiki/index/) [.](https://styles.redditmedia.com/t5_2hqqj5/styles/communityIcon_41pmnaqp4zn41.png?width=256&s=59bf38425fb316fdcba30365b272a5f19352f370) + +&#x200B; + +Posts relating to the "Is /r/ASX_bets about finance or effect your mental health?" etc will lead to a ban of the mods chosing. [You have been warned](https://www.reddit.com/r/ASX_Bets/comments/l0l9et/the_does_asx_bets_effect_your_finances_emotions/?utm_medium=android_app&utm_source=share). + +&#x200B; + +[We have an active official/unofficial discord. It's open to all discussions, stonks related and non-stonks related](https://discord.gg/EKU2tVBp9u). +Your markets are run by bots. Now your daily threads are too. + +&#x200B; + +This thread is for plans and thoughts prior to the market open period. + +Maybe use this time to read the [wiki](https://www.reddit.com/r/asx_bets/wiki/index/) [.](https://styles.redditmedia.com/t5_2hqqj5/styles/communityIcon_41pmnaqp4zn41.png?width=256&s=59bf38425fb316fdcba30365b272a5f19352f370) + +&#x200B; + +Posts relating to the "Is /r/ASX_bets about finance or effect your mental health?" etc will lead to a ban of the mods chosing. [You have been warned](https://www.reddit.com/r/ASX_Bets/comments/l0l9et/the_does_asx_bets_effect_your_finances_emotions/?utm_medium=android_app&utm_source=share). + +&#x200B; + +[We have an active official/unofficial discord. It's open to all discussions, stonks related and non-stonks related](https://discord.gg/ywAGqfUAQE). +Hello everyone. I can't understand how the NAV updation is taking place in the aforementioned MF. Suppose S&P rose 1% tonight (Jun 7 morning in US), does the NAV updated in the fund tomorrow morning reflect the latest closed position? Or the closed position of the previous session? I'm asking because I have seen that there have been instances where the S&P index goes up but the NAV goes down in the morning. Thank you for your help! +The sensible thing to do in my position is to sell and enjoy some substantial profits, not life changing, but enough to buy a nice average car for example. + +Stubborn me refuses to sell as I’d hate to think how I’d feel if I looked at prices in the future and realised I could have paid off my mortgage. So to sum up I’d rather lose it all than sell and miss out on mega profits. It’s rather stupid thinking. +A database dump containing personal info of customers from the recent Ledger breach has been published freely. Turns out it contains personal info of around 272k buyers while Ledger stated previously that it's only 9500. + +Fuck Ledger! Why do they keep info after a purchase is done? Even worse keeping the database live! And then downplay the number! + +A year ago I was going to buy a Ledger wallet but I decided not to in the final moment. I'm glad I didn't. + +Again, fuck Ledger + + + + + +Edit: seems like some people are organizing for class action lawsuit at r/ledgerwalletleak. Thanks to u/PriorContinuance for sharing. + +Edit2: since it's a recurring question: no, your Ledger wallets are **not** at risk. This has nothing to do with the hardware wallets. It's just the website's backend database that got stolen. + +Also just to clarify, the dump consists of two files. One containing buyers info (email, first name, last name, phone number, shipping address), and the other containing newsletter subscriptions list (only contains emails). +haveibeenpwned queries do not differentiate between the two files. It won't say on which one you were found. In other words, it won't say whether just your email is included, or your full info. +So I currently live in Miami, Florida and I got accepted into Florida State University. I have earned Florida Bright Futures which is a scholarship that covers 100% of the tuition and even give some money for books. I have a 4.22 gpa and I got a 29 on the act. My dad broke the news to me yesterday that he is more than likely going to lose his job within a few months and I have no clue what to do as my grandma was also recently diagnosed with breast cancer and she’s now living at my house and is slowly deteriorating right in front of my eyes. I really, really want to go to FSU but all signs are pointing to me having to stay in miami and going to community college, which will be free. I have looked into scholarships but the deadline to pay the deposit for enrollment is may 1st and most scholarships that I can apply for come out later. + +EDIT: thank you all so much for the many comments and i’m not gonna lie this is my first real reddit post and there’s a lot of people asking things, so i’m going to cover the main ones that i’ve seen. a main one is i need to pay for room and board and a meal plan, though i don’t actually need live on campus, I don’t have a car so it would probably just be overall easier for me to be able to just live on campus. Then my plan has been set for about 3 years and it was to: +1. go to fsu and major in psychology with a prelaw track +2. go to law school and take out loans cause those are inevitable +3. hopefully either start my own practice or find a firm that I can join +4. practice, preferably, family law and be able to make a living to support myself and my family + +Another thing is if I don’t go to FSU, I will be going to Miami Dade Community College, so no matter what I am going to go to college, it’s just whether I go up to FSU or MDC. I will get a job at whichever college I go to so I can have money and I have about $1,000 saved up but that’s not nearly enough to truly help with FSU at the moment. +So I had a customer who really wanted 0% financing on his vehicle. The thing is we didn't have 0% financing offers on the vehicle he wanted. He however did have good credit and and got 2.99% APR. But he said he'd only buy from us if we could offer him 0% + +He had a discount on his vehicle of about $3,000 so I emailed a loan officer I work with alot (who had offered him the 2.99%) and I asked her if we wrote their bank a check for $3,000 would they let us buy the rate down to 0%. + +Long story short the bank said yes, because well $3,000 was more interest (not by a lot, but it was still more) then they would have made at 2.99% and they got all their profit up front. + +So we took the $3,000 discount away from the customer, he financed his car at 0% and ended up with a slightly higher payment and walked away feeling like he just won the lottery. + +My customer made the critical mistake of getting so hung up, on one little detail he negotiated himself into a worse deal. Now at the end of the day, my customer is only going end up paying about $200 more then he would have...but still. + +Also I did point out to the customer he was in fact paying MORE for the car at 0% then at 2.99% but he said it didn't matter cause of all the interest he'd save...he didn't get it, I sold a car, life goes on. + +Fyi + +Dude wasnt a muslim lol +My monthly online spends hardly exceed 10/20k per month. So I usually do not document each transaction every month and rely only on the bank statements. However, most of these statements never mention the actual vendor but the payment gateway through which the transaction was effected. + +In this case, how do you manage to trace back the vendor through the said gateway and document the expense +I’m sure this is a fairly common scenario in marriages: one partner takes a back seat to let the other shine in his/her career. Early in my marriage, I was the breadwinner. Then we had kids, and I sacrificed my career to be able to care for them (ie, switching to jobs with flexible hours and schedules, and at some points either going part time or even staying at home). My husband meanwhile advanced in his career and steadily became the breadwinner many times over. + +As he’s advanced, we’ve had to move several times throughout the years along with his promotions. This meant me dropping my job and having to get a new one wherever we ended up. This has gone very well for him but has played havoc with my retirement planning. Eventually, my kids got older and I started a new career that I’m 9 years into. Needless to say, my 401k is pathetic compared to his. Even so, 9 years is a lot of time to invest in a job that I’ll have to leave now that he’s due for another move, yet again. + +While he does very, very well I’ve had to stop and think on this one. I’ll be at 11 years at my job in which I have a 401k and pension I’m working towards. That will all come to an end with this move. That’s issue number one. Issue number two is we are moving to Paris, France—a foreign country for us. So while his retirement is safe with the same company I’ll have to figure out a new job for myself. I’m a teacher so that may be an option. I’m also ex military so maybe looking into DoD schools or an embassy job might work, or my last choice is applying for a corporate job. +Been there, done that, not my passion. + +So, I have a lot of questions. First, what is the best strategy or what options are out there for someone in my position of changing jobs constantly? I looked into an IRA but I know there are contribution limitations. Is there anyway I can roll over my govt service years (since I teach) if I get another govt job? For example, I was able to roll over my military time in service when I got my teaching job. Also, there is the fact that we will be residing in a foreign country. That also puts a new spin on things. + +Finally, if not here, I’d like to know who or what type of service can I seek to help me make some sound decisions about this or at least get a solid starting point? I’m clueless! Help! + +Edit: Just for the record, I’m a good 27 years from retirement age, I’m a college graduate, I have a respectable job which I excel at, am respected for, and have leadership roles in. I don’t see why asking what’s a wise way to invest my money for later in life should be dismissed just because my husband does well. It’s a whole lotta sexist in my opinion. + +Edit 2: Good people. Do not fret. I will not be kicked out in the cold and homeless if my husband decides to leave me someday. I am a qualified, experienced, and educated professional. Even if I won’t be rich, I am more than capable of making enough to live comfortably. Thanks for your concern and your fascinating perspective. And thanks to the especially good people who have addressed my questions in an honest and well intended manner. Time to get back to my charmed life. + +Edit 3-final: My questions have been answered and concerns quelled. I appreciate you financially savvy commentators for your awesome advice! I am clear on what our next move should be and I’m happy to confirm I’m not off base and we have some more saving we could be taken advantage of. Now I have a solid starting point for a conversation with my hubby. I’m looking forward to us working together on bettering an already good situation. Thanks again! +GameStop was getting a lot of backlash for allowing one of it's creators to sell a NFT titled falling man which showed an astronaut falling and was a reference to one of the most iconic photos from 9/11 terrorist attacks. + +&#x200B; + +https://preview.redd.it/az54yfafnkd91.png?width=566&format=png&auto=webp&s=2254501d7f398a9b94d4c8172c599c95bbfed784 + +The company probably received the backlash because of how the marketplace operates. + +> “This one probably fell from the MIR station,” says the NFT’s description, referencing Russia’s decommissioned space station. The artwork’s creator is selling two different versions of “Falling Man,” with the cheapest listed at 0.65 Ethereum or about $990. As *Web3 is Going Great* points out, GameStop operates a curated NFT marketplace. Artists must apply and pass a vetting process before they can list their tokens for sale. The company takes a 2.25 percent cut of sales. + + The Falling Man NFT is no longer listed on GameStop's marketplace. In a [direct message](https://twitter.com/WanderingStrngr/status/1550983977221210116?s=20&t=UNJtJhj55Gh07n8tdyJWzg) to one individual, the company said it was taking action against the creator of the NFT. "This NFT will be removed from our marketplace entirely," the company said. "This user has already had their minting ability removed from their account, and we have already been in direct contact with the creator about these actions." + +&#x200B; + +https://preview.redd.it/av5z1dl4okd91.png?width=384&format=png&auto=webp&s=a6836fc57967d2ddc0a836e322d8032e18e1bb82 +Say what you like about border politics, but we are in a once in a lifetime opportunity to get the pay raise you deserve. If you havnt allready had the tough talk with you boss, the clock is ticking. + [Hedge funds rethink tactics after $12bn hit from meme stock army – Investors News Blog](http://investorsnewsblog.com/2021/06/25/hedge-funds-rethink-tactics-after-12bn-hit-from-meme-stock-army/) + + [admin](http://investorsnewsblog.com/author/admin/) 4 hours ago + +Hedge funds that bet on falling share prices are stepping up their efforts to spot the next GameStop after this year’s “meme stock” bonanza left the industry nursing billions of dollars of losses in just six months. + +Huge gains in the price of companies favoured by day traders who assemble on message boards such as Reddit caught out some short sellers badly in late January. In recent weeks, these stocks have staged a second rally, with a rise in stocks including cinema chain AMC inflicting yet more pain. + +Hedge fund losses since the start of the year from betting against just GameStop, AMC and Bed Bath & Beyond total more than $12bn, according to data group S3, while bets against a number of others have each run up additional losses of hundreds of millions of dollars. More than half short sellers’ $5.1bn of losses betting against AMC this year have come in June. + +The heavy toll shows how moves by individual investors, which are regularly co-ordinated on forums such as r/WallStreetBets, has heightened the risks for professional investors in the Wall Street equities market. + +“In two waves, a few hedge funds have seen modestly sized short positions turn into extinction-level events,” said Andrew Beer, managing member at investment firm Dynamic Beta Investments. Funds that suffer multiple rounds of losses on short bets “will face difficult questions from investors as to whether their risk management failed to adapt to a changed market environment”. + +The highest-profile hedge fund casualty has been Melvin Capital, which lost 53 per cent in January and is still down 44.7 per cent this year to May. Light Street Capital, the fund led by ‘Tiger cub’ alumnus Glen Kacher, was also hit early this year and again in May, with losses in the first quarter predominantly driven by soured short bets. London-based White Square Capital, which lost money shorting GameStop, is also shutting its main fund. + +An index compiled by Goldman Sachs of stocks favoured by retail investors has almost doubled since June 2020, while another that tracks companies that are targeted by short sellers has gained 28 per cent. + +Traders across the industry, both those caught directly in abrupt rallies in heavily shorted stocks as well as those hit by the ensuing market volatility, have now been forced to start tracking potential retail investor maneuvers or risk huge losses and backlash from their investors.  + +“The danger is you don’t really know what stock the retail community is going to go after next,” said Amy Wu Silverman, equity derivatives strategist at Royal Bank of Canada. “There is not a stock that is ‘safe’.” + +Wu Silverman had typically concentrated on advising institutional clients about their hedging strategies. Now hedge funds seek her help to identify the early warning signs of a retail-driven meme stock surge. + +“It has completely upended our markets, and we have had to make really dramatic changes to how we model things and how we manage risk,” she said. Retail investors chasing volatility “has gotten to the point where you can’t ignore it”. + +Losses inflicted by retail investors have proved a rude awakening to hedge funds, which had just enjoyed a banner year in 2020 making their biggest gains since the aftermath of the financial crisis, according to HFR. + +Some funds are considering taking a greater number of smaller short positions to cut down on the potential losses a single stock can cause, say industry insiders. D1 Capital, whose founder Daniel Sundheim previously worked at Viking, is one fund that has been considering reducing the size of short bets this year, say people familiar with the strategy. Others are looking at betting against indices, rather than individual stocks. + +Managers in the US and UK have begun using algorithms to scour forums such as r/WallStreetBets or other data sources to try to spot co-ordinated buying. While the practice is new to most western funds, this kind of surveillance is already common for many Asian managers, according to Patrick Ghali, managing partner at advisory firm Sussex Partners. + +Tiger cub Lee Ainslie’s Maverick Capital wrote to investors in April that its quant team “now systematically monitors Wall Street Bets and other similar forums that cater to less experienced, retail investors”. Moez Kassam, chief investment officer at Anson Funds in Toronto, said his firm has been building algorithms to follow commentary and sentiment on Reddit, as well as using some bought from external companies. + +Fintech company S3 now provides a company’s “short squeeze risk” score to Bloomberg terminal users, while alternative research provider Quiver Quantitative scrapes Reddit investment threads for ticker mentions and sentiment. + +“You don’t want your book to be exposed to the whims of r/WallStreetBets,” said Quiver founder James Kardatzke. + +Data group Sentifi, which buys data from the likes of Reddit and Twitter and uses it to score sentiment around stocks, said it detected a nearly 1,200 per cent rise in chatter around AMC between May 20 and June 1. The cinema chain’s shares had already started to rise by then, but then doubled on June 2. Sentifi said the number of customers using its platform had doubled over the past year. + +Swiss investment firm Unigestion has also started looking at how it can deploy its machine reading and data techniques — which it already uses to spot changing sentiment — around meme stocks. + +“It is an important, though short-term, risk factor” in markets, said Unigestion portfolio manager Salman Baig. “For us, any factor that can disrupt markets is of primary concern.” + +*Additional reporting by Miles Kruppa* + +*laurence.fletcher@ft.com, madison.darbyshire@ft.com* +https://www.cnbc.com/2020/02/28/us-stocks-erase-3point18-trillion-in-value-this-week-amid-coronavirus-tailspin.html + +The S&P 500 lost $203 billion in value on Friday, according to estimates from S&P Dow Jones Indices. + +Friday’s losses bring the weekly total for U.S. stocks to $3.18 trillion, the firm’s Senior Index Analyst Howard Silverblatt told CNBC. + +Stocks cratered again on Friday as investors fled riskier assets amid intense fears about a slowdown in global growth caused by the deadly coronavirus. +Been following him from the beginning. + +He has thru the year been slowly but steady starting to move away from "stonks" and putting a big focus on "boomer stocks" and crypt0. He is slowly trying to turn his "community" towards moving money from GME and A/M/C into whatever he is talking about. + +He is not even showing GME chart anymore, he has since the beginning been trying to make A/M/C the main "stonk". Last months this has been VERY obvious. + +When someone points this out, he gets into "rant mode" like a little kid. Clearly pushing his buttons hard. He is REALLY scared to loose his "youtube-career" or what I really suspect "shill-crypto balance". + +Been suspecting him from the start, he sounds fake. + +Just be aware and dont watch these "Youtube-careeere guys". + +Sry if im late to the party, maybe most of you all have figured this out earlier. + +EDIT; + +He got really mad about this post and ranted yeasterday. It was amazing to see and by looking at chat I suspect 98% are bots. They just spew shit like ”We trust Matt kohrs” and random sentences out of the blue, for a fake supportive look. Chat is non responsive overall. Bots. + + +Nice +https://twitter.com/thekidreturns/status/1475908157683687429?s=21 + +Nice +https://twitter.com/WallStWhales/status/1475884978122608640?s=20 + + +Matt is now saying Superstonk is TOXIC and people should read WSB instead. WTF... He is getting really triggere by all of this. + +These youtubers are dangerous, clickbait is dangerous. +# The Short-Selling Party at GameStop Is Over. h + +&#x200B; + +**Gamestop** (NYSE:[**GME**](https://investorplace.com/stock-quotes/gme-stock-quote/)) stock was one of the great stories of early 2021. + +A short squeeze driven by small investors sent stock in the video game store chain soaring early last year, from $25/share to a high of over $300. The arrival of **Chewy**(NYSE:[**CHWY**](https://investorplace.com/stock-quotes/chwy-stock-quote/)) founder Ryan Cohen as chairman, and the hiring of [new management](https://www.cnn.com/2021/06/09/tech/gamestop-new-ceo-cfo/index.html)from **Amazon.Com** (NASDAQ:[**AMZN**](https://investorplace.com/stock-quotes/amzn-stock-quote/)) caused many of those investors to believe a turnaround was imminent. + +It’s not. When the company’s Christmas quarter numbers came out in March, it reported anemic growth of 6% year-over-year, and [a loss of $381 million, $5.25 per share.](https://news.gamestop.com/news-releases/news-release-details/gamestop-reports-fourth-quarter-and-fiscal-year-2021-results)  Beyond [a stock split](https://www.thestreet.com/memestocks/gme/gamestop-stock-ryan-cohens-clever-plan-to-limit-shareholder-dilution) that only seems to benefit management, nothing has changed. + +[**GME**](https://investorplace.com/stock-quotes/gme-stock-quote/)GameStop Corp.$121.65 + +The Bull Case for GME Stock + +The bull case for Gamestop starts with a failure, cloud gaming. + +**Alphabet** (NASDAQ:[**GOOG**](https://investorplace.com/stock-quotes/goog-stock-quote/), [**GOOGL**](https://investorplace.com/stock-quotes/googl-stock-quote/)) promised to transform the industry with its [Google Stadia](https://stadia.google.com/), but it’s looking increasingly like just another app store. There’s too much latency, too much time between you mashing a button and your opponent across town being able to respond. Even in the U.S., which has half the world’s cloud data centers, local networks are slow and expensive. + +This means there’s still a niche for retailers who sell physical games and game machines. Gamestop fills that niche. But the niche should decline over time. Cloud gaming is coming. + +No one wants to bet against Gamestop, however, or especially short it, given [what happened to **Melvin Capital**](https://nypost.com/2022/05/02/melvin-capital-down-23-3-year-to-date-as-founder-looks-to-shut-down-fund/), which led the shorts last year. Even today, shorts are [in an uncomfortable position](https://www.thestreet.com/memestocks/gme/gamestop-stock-short-sellers-are-not-in-a-comfortable-position) as retail investors continue to support the stock. + +### The Bear Case for GME Stock + +The question is, why? + +Cohen has turned his attention to **Bed, Bath & Beyond** (NASDAQ:[**BBBY**](https://investorplace.com/stock-quotes/bbby-stock-quote/)), the home goods retailer. After taking a position in the stock, he convinced the board [to seek a sale](https://bedbathandbeyond.gcs-web.com/news-releases/news-release-details/bed-bath-beyond-inc-announces-cooperation-agreement-ryan-cohen), first of its Buy Buy Baby unit, then possibly the whole company. He turned into just the kind of Wall Street shark he once criticized, taking out companies to take them apart. + +What of Matt Furlong, the hotshot Amazon executive hired as CEO? He made [$16.7 million](https://www.marketwatch.com/story/gamestop-ceo-matt-furlong-got-paid-16-8-million-in-2021-for-a-half-year-of-work-11649783285) for a half-year of work, but he has done nothing to improve operations. Since dropping chief operating officer Jenna Owens [late last year](https://www.retaildive.com/news/gamestop-coo-is-out-after-7-months-on-the-job/609218/), the only release Gamestop has sent out about operations concerns [a token for NFTs](https://news.gamestop.com/news-releases/news-release-details/gamestop-forms-partnership-immutable-x). + +[**8 STOCKS TO OWN INSTEAD OF TESLA FOR THE EV BOOM**](https://signup.investorplace.com/?cid=MKT557071&eid=MKT594178&encryptedSnaid=&snaid=&step=start) + +Bulls talk about insiders buying, about the stock split and about Gamestop having [“meme stock power.”](https://www.thestreet.com/memestocks/gme/3-reasons-to-buy-gamestop-stock)  What does the last even mean? It seems to mean that the small investors who bought the meme aren’t abandoning the name. But that’s not a business case. + +Professional analysts have given up on Gamestop. *Tipranks* lists just one, who wants you to [sell it.](https://www.tipranks.com/stocks/gme/forecast) Their price target is $30/share, 75% below where it’s trading on May 3. + +### The Bottom Line + +There are very few retailers that sell at a premium to their sales. **Costco Wholesale**(NASDAQ:[**COST**](https://investorplace.com/stock-quotes/cost-stock-quote/)) does and so does **Target** (NYSE:[**TGT**](https://investorplace.com/stock-quotes/tgt-stock-quote/)). **Walmart** (NYSE:[**WMT**](https://investorplace.com/stock-quotes/wmt-stock-quote/)) sells for about 73% of sales, and **Home Depot** (NYSE:[**HD**](https://investorplace.com/stock-quotes/hd-stock-quote/)) for about 40% of sales. + +Gamestop is losing money and sells for 1.5 times its sales. The valuation makes no sense. Full year sales in fiscal 2022, which ended in January, were 20% ahead of a year before. But they were also $450 million behind where they were in the pre-pandemic year of 2020. + +When there are so many good stocks selling at deep discounts to the value of their businesses, Gamestop stands out. Not in a good way. Its priced way above other retailers, and it’s not a tech stock, even though it sells software and chip-laden game machines. + +My advice is that you walk away. Do it quietly. Don’t tell anyone until you’re out. But sell, now. If you got in early, take your winnings. If you got in late, accept your losses. But sell. +Seeing all the red on $GME today, I panicked. + +I was scared I would miss another dip, so I sold some of my green colored lines to buy $6k more $GME. + +I locked in my profits from other stocks AND lowered my average price per share on $GME. I'm literally Buffet. + +It's called buy low sell high retards. No one is selling at this point. + +Selling now is literally the same as walking into a restaurant and paying for a billionaire's lunch. Just venmo a hedge fund directly. You might as well go to one of their 8 homes, strip naked, and let them use you as a footrest. Let them call you good boy while you roll over and lick their shoes. For anyone selling now (which thankfully almost no one is), it's humiliating. + +Buying now off the short ladder is buying another shorted stock which they HAVE to buy back from you at WHATEVER price you want. + +It's the best feeling in the world. Empowering. Intoxicating. + +I'm touching my pp right now. + +Buy up their shorts. +I watched Coding Jesus video on why technical analysis is bs. I agree that short term - medium term prices are random and searching for patterns for the sake of patterns is bs. + +But for example, if the SPY is above the 30 day rsi of 40/100 and the 5 day EMA is above the 10 day EMA, I will enter a 50-30 delta call spread with expiration of 60 days. The exit conditions are either 40% profit target or max loss. When back-tested the strategy has a 80% wr with an avg return of 40% per trade based on risk and this has been true for the past 2 years. Would this be an example of technical analysis trading based off the RSI and EMA or a quantitative strategy based on historical and statistical probability? +Alright so I made a post earlier about [missing shares for my proxy vote](https://www.reddit.com/r/Superstonk/comments/uengd4/check_your_share_count_when_voting_fidelity_cant/?utm_source=share&utm_medium=web2x&context=3). + +After being dropped from the chat, and waiting on the phone for 50 minutes for clarification, the rep that was working on this offered to call me back in 20-30 minutes with an answer as to why, if I didnt have any margin debit, and I'm not part of the share lending program, I was missing 67 shares for GME. + +&#x200B; + +Fast forward 6 hours and here's what I got. Sus as fuck. + + +The guy said he checked with three internal departments. The margin department, the share lending department and the proxy department. He said that although the margin and share lending departments "confirmed" those share were not lent, the proxy department has those marked as lent. + +Naturally my next question was - well... How does the proxy department determine that and how can that be incorrect when compared to other internal departments/books? Although the rep was helpful, he didnt have an answer and just said "thats what I'm trying to understand as well" telling me that theres an investigation and a case (provided the case number). He said he should have some answers in a few days, and that's were we left it. + + +Here's my theory, I'd like to hear yours. Maybe theyre just fucking cooking the books and they made sure their margin and share lending departments were wiping that shit off the books since I havent incurred any margin debit, but they fucked up and forgot to take care of the proxy books, since that's more of an unusual thing that only needs to be QC'd more infrequently? i dont fucking know. Realistically not voting 67 shares is inconsequential relative to the float. What's pissing me off is how they are doing sketchy shit and can't explain it. This is just what I needed to transfer over my remaining shares to computershare I guess... +EDIT: DISCLAIMER: There is [no emotion](http://www.reddit.com/r/Bitcoin/comments/1t5uyn/memes_price_posts_and_emotional_posts_are_under_a/) is this post. Please do not ban it. Please follow that link to voice your opinion about the new anti-feelings rules on this subreddit. + +This is a big crash and it's coming at a pretty tough time of year for most people. There is a spike in suicides this time of year, even without the tough times for BTC (edit: I've been told this is a myth). + +EDIT: Please also see /r/suicidewatch. + +13 11 14 for Lifeline Australia. + +70 201 201 for Denmark. + +EDIT: [More here](http://www.suicide.org/international-suicide-hotlines.html) + +Beijing -- 0800-810-1117 + +Osaka -- +81 (0) 6 4395 4343 + +Russia -- 007 (8202) 577-577 + +Mumbai, India -- +91 22 2754 6669 +Seriously you are going to have a very hard time convincing a non gamer boomer , any of them, about gamestop and its future, they will invest based on earnings, not speculation that we are doing(smartly because most of us are gamers and know...). Ive crawled through his posts and its clear as day he thinks A. Theres no criminal activity on citadels part regarding gme. B. Gamestop is over valued C. The squeeze has sqouze. D. NAKED SHORT SELLING DOESNT HAPPEN BECAUSE ITS ILLEGAL +........ + *HITS BONG IN INDIANA* +.... + + +All of that is BULLSHIT so why are so many accounts begging for this chicken farmers opinion just because he called out fraud that he profited from calling out in the past. Man made a post in january saying he has all the evidience to blow up citadel and then just does nothing with itt? +Tells us our DD is missing something huge but doesnt say what so youll give him ama time to find out what "it" is which is likely something in a DD he just hadnt taken time to read yet. Dr t and lucy and carl make this man look like a joke. + +The dude has nothing to offer and wants his twitter to break 6 figure followers. The end + +If he was really on our side hed be using the info he claims to have to help us, whether we give him a platform or not. Hes not doing that. + + +If i had info that would blow up citadel, or a missing chunk of your DD. Id get that shit out there and would not demand an AMA platform to "unlock the secrets". + +Marc, call the SEC. Not superstonks. +We dont need new info. Buy hold vote settles everything. + +Ps his big reveal is going to be he thinks longs are manipulating the price up, to trap shorts. Not shorts pushing it down. This is a published opinion of his. + Cuz hes a short, so has issues with longs more often than longs do. Its just his perspective and does nothing for us. +Do you write covered calls? Are you concerned when the underlying is bringing your short call deeper into the money? Are you content when the underlying dips, bringing your short call farther out of the money and, therefore, guaranteeing its worthlessness and your profit on it? You may be mismanaging it. + +The covered call is very counterintuitive when it comes to profit and loss. It has a misleading nature. It can make you think that you’re losing money, when you’re actually profiting; and vice versa, it can make you think that you’re profiting, when you’re actually losing money. + +A CC and a CSP are synthetically identical at the same strike. They are bullish on the underlying with short gamma. + +What’s the misleading nature of covered calls? + +- The short call becomes profitable when the underlying dips. However, the long leg of the trade (the shares of the underlying) incurs a loss. The loss from the long leg is greater than the profit from the short call. This nets in unrealized loss. +- If the underlying rallies, then the short call becomes more expensive to buy back, and thus shows a loss to you. The long leg of the trade, however, gains in value. The unrealized profit from the long leg is greater than the unrealized loss on the short call. This nets in unrealized profit. + +If you’re fixated on the short call of the CC, then you’re missing the bigger picture. I see many, many traders concerned with rolling a covered call up and out for credit during a rally, while not ~~doing the same~~ rolling down and out during a dip (as they would with a cash-secured put). + +The cash-secured put doesn’t lie to you like short-leg of a covered call does. The CSP tells you when you’re losing money and tells you when you’re profiting. + +To clarify, I’m not making a case for writing puts. I’m calling for a greater awareness to managing covered calls. + +If you’re rolling CSPs down and farther out in time during a sell-off, and you’re not doing the same to a CC, then you may be missing the complete picture your exposure on the covered call. + +If you’re rolling CSPs up vertically for net credit during a rally, and you are opposed to rolling the CC up vertically for a net debit in the same scenario, then you may be missing the complete picture of your exposure on the covered call. + +As always, remember the cardinal rule in options trading: + +***Know thy exposure.*** + +`AMENDMENT` + +Since ~~many~~ [some] complained about the ambiguity of this post, I’d like to clarify some implications from this when it comes to rolling. + +- If you write OTM CCs, then you’ll have an easier time rolling [up and out] for credit on a rally (as long as it doesn’t get away from you). Rolling for credit here lowers your breakeven point, reduces your gamma, and maintains your delta. It’s proactive management, because it’s nearly impossible to make up for intrinsic loss of the shares with extrinsic value of rolled-out OTM calls during a sell-off. +- If you write ITM CCs, then you can manage the CC like an OTM CSP, rolling outward during a sell-off. This is reactive management, as it’s easier to roll down an ITM call for enough credit to make up for intrinsic loss of the shares during a sell-off, than it is to roll it up for credit during a rally. +- If you write ATM CCs, then you can do either just as effectively [if not more effectively, because you have maximum extrinsic value at your disposal]. +Welcome to the Daily General Discussion thread of /r/EthTrader. + +*** + +Thread guidelines: + +- Please refrain from discussing non-Ethereum related tokens here. You are welcome to discuss altcoins in the Daily Altcoin Discussion thread. +- All [sub rules](https://www.reddit.com/r/ethtrader/about/rules/) apply here so please be familiar with them. + +*** + + Resources and other information: + +* Newcomers who have basic questions about Ethereum can find answers by visiting /r/EthereumNoobies or our Ethereum Education wiki page, [see here](https://www.reddit.com/r/ethtrader/wiki/education). + +* To view live streaming comments for this thread, [click here](https://reddit-stream.com/comments/auto). Account permissions are required to post comments through Reddit-Stream.com. + +*** + +Enjoy! + + + +My only friend in the whole wide world just got into crypto because I told him that I made a small profit since I started. My pal went ahead and started watching bitboy-like youtubers and lost a whole lotta money. Now he is trying to blame it on me for telling him to get into crypto. + +I wholeheartedly believe that telling your friends or family about investing in crypto is just asking for trouble. Money can be evil and can destroy many things, also long-time friendships and even family. I’ve seen it before with some of my relatives and you don’t want that. + +And family dinners will be far less enjoyable when crypto will dip and they will start lecturing you with “I knew that computer money is a hoax”. They don’t understand crypto. They don’t even remotely understand what it’s trying to achieve. + +Keep your investments to yourself. There is no need to announce it to everyone. You don’t go around telling people how thick your wallet is right? You should stay safe. Be a Satoshi, an unknown figure from the darkness of the web. Banks and government know about you too much already, no need to give them any additional information. + +Have a superb weekend my bestest lads and lasses +Super bullish on crox, everyone on the planet wears them and will keep buying. Nobody wants a knock off which means crox almost has no other competition. +Almost no debt and they print net profits at an unbelievable growth rate. $CROX in relation to EPS is severely undervalued and I will continue to buy the stock. + +Curious who else is long term holding? Or who has doubts and what are the reasons? + +*edit* +Thanks for the input everyone 😁 exactly the discussions I wanted to see and some critical opposition that I can sit with, still long on $CROX but will only add a little more to my position until year end results , +Cheers +I moved my money out of a to-big-to-fail over a year ago and aside from my personal satisfaction with my local banker, I am unaware of this move having any effect. + + +Is there any evidence, factual or anecdotal, of this campaign accomplishing anything? + +EDIT: +My summary after watching this thread for 24 hours. + +* anecdotes are more common than facts. (I probably shouldn't be surprised.) +* Interesting observations from credit unions employees that deposits are increasing. I would like to know if this trend is for all forms of banking or just credit unions. +* customer deposits are not an important revenue stream for some banks and removing them is unlikely to change any unethical business practices there. +* A banks website, ATM's, customer support, and other conveniences are important. In some cases the most important reason for choosing a bank. +* Many people have positive or empowered feelings after moving banks. + + + + +&#x200B; + +https://preview.redd.it/a7xtugkmaqt71.jpg?width=700&format=pjpg&auto=webp&s=6ca5c1047baaf5e5417789ec0f2d7e8269b32857 + +*This is one of a series of posts where I will apply my fast and dirty historical fundamental analysis to some of the biggest dogshit stocks of 2021. If you are interested in the process I use below to evaluate a stock, check out* [How Do I Buy A Stonk???](https://www.reddit.com/r/ASX_Bets/comments/lzjpvf/how_do_i_buy_a_stock/) + +This instalment in the series will be a double, looking at two stocks on the exchange which share a common history. + +# The Business + +&#x200B; + +https://preview.redd.it/2ll6tnddbqt71.png?width=6000&format=png&auto=webp&s=32415a0f0b26ebc42ab8b2c1a7040f630471392c + +With shopping centres around Australia, and 50million+ visits on a monthly basis, it’s hard to imagine a more iconic name in shopping malls than Westfield. With it's first mall opening in 1959, Westfield expanded to America, UK, and Europe in the decades that followed. At its height, Westfield owned one of the largest shopping centre portfolios in the world. + +&#x200B; + +https://preview.redd.it/2jkih4d5bqt71.png?width=2000&format=png&auto=webp&s=5441d5cfb65d258b76c89d4d816f2b774d395e80 + +In 2014, Westfield demergered its Australian and overseas operations. The former became Scentre Group (SCG), and the latter for a time traded under Westfield Corp (WFD). In 2018, Westfield Corp was acquired by Unibail-Rodamco, and became Unibail-Rodamco-Westfield (URW). Its new owners were themselves a 2007 merger of two major real estate investment companies. Originally, Unibail was a French outfit listed on the Paris exchange in 1972 and Rodamco was a Dutch outfit that was listed on the Amsterdam exchange in 1979. + +&#x200B; + +https://preview.redd.it/s2hihvdkbqt71.png?width=1870&format=png&auto=webp&s=293c48e6763e3402fb317069d5397252e4c537c2 + +Fast forward to today, Scentre Group and Unibail-Rodamco-Westfield between them own hundreds of major retail shopping centres and commercial properties, with a combined net asset worth of over $100 billion. + +# The Checklist + +https://preview.redd.it/360qvivobqt71.png?width=1291&format=png&auto=webp&s=9f74f44c74bfc37ccd3f53c8c6575d923fe47e2a + +Scentre Group (SCG) + +* **Fair Value: $5.11** +* **Target Buy: $4.74** + +Unibail-Rodamco-Westfield (URW) + +* **Fair Value: $8.23** +* **Target Buy: #N/A** + +^(Note about years examined: Slight difficulty in analysing both of these stocks long term history. With all the demergers and acquisitions, some of the older figures are either not available or not very representative of the current stonk. I’ve chosen to exclude the old figures and focus only on the years in which the current organisations were in place. For SCG, analysis applies to 2015-2021. For URW, analysis applies to 2018-2021. This is a bit less favourable to URW as a result of the 2020 results being a larger weighting in the averages.) + +# The Knife + +https://preview.redd.it/1srd749vbqt71.png?width=1778&format=png&auto=webp&s=12c8b8bb8d043d30dbc2eff3456d1476990d80e8 + +The charts are very similar. SCG reached its height in 2016, well over $5 a share. By the time 2018 rolled around (where the URW chart starts), SCG was in a long-term downtrend. URW mirrored SCG’s decline from that point, achieving its highest point shortly after listing. Those that bought SCG at it’s all time high would have from peak to trough seen 75% of their investment vanish, and would be down over 40% even today. Similarly, URW baghodlers at one point were sitting 80% in the hole on their investment, and are still staring down the barrel of a 67% loss. + +&#x200B; + +https://preview.redd.it/hlmeay8wbqt71.png?width=1843&format=png&auto=webp&s=9803804b81c2f30ace246a0c1975261b5255dffe + +Much of this loss can be attributed to the 2020 crash. However, there’s been a marked difference to the extend that each have recovered. While SCG and URW are both still down on their early 2020 price levels, URW has significantly struggled in comparison to SCG. It is still –(57)% off pre-crash price level, in comparison to SCG which is only suffering from a –(23)% discount at this stage. + +# The Diagnosis + +The short answer: Lockdowns don’t tend to be very helpful to shopping malls... + +&#x200B; + +[Melbourne CBD, photo Courier Mail](https://preview.redd.it/ypoatp6ybqt71.png?width=1500&format=png&auto=webp&s=46b97df6ce569832d89911c695edea43500b332b) + +The long answer: 2020 and 2021 have put these two stonks through the wringer. While they have survived so far, the pain will last even after the lockdowns have ended. Sudden shutdowns of much of retail shopping and “non-essential” services around the world, along with the government measures that were put in place to try to address the fallout, have had wide-ranging and long-term consequences. + +&#x200B; + +[Charts from 2020 & 1H21 reports](https://preview.redd.it/sd35ux00cqt71.png?width=2000&format=png&auto=webp&s=3581e5e95cf5756d54f5cf27c741658faaad9200) + +The first and most obvious consequences for shopping centres was a dramatic fall in customer visits. Traffic to both companies’ centres fell almost in line with the market drop and struggled to return to normal as added restrictions and staggered snap lockdowns continued to hobble any real recovery. You could almost map each of these stonks' share price against customer visits and get a pretty close correlation. + +&#x200B; + +[We're Saved!](https://preview.redd.it/12y6xqo0cqt71.png?width=900&format=png&auto=webp&s=b43c44fc5265a16896a48d36f3cf27beb6419e95) + +Add that to the fact that landlords tended to be on the wrong end of many of the government measures introduced in this time to help staunch the bleeding to businesses that were caught up in the economy wide shutdowns. Rental moratoriums on both a commercial and private level tended to be at the expense of the owners, who saw their collections drop. + +&#x200B; + +[Charts from 2020 & 1H21 reports](https://preview.redd.it/1m7cx6v2cqt71.png?width=2000&format=png&auto=webp&s=da89d646f593454daa9140d071e511c8e6434989) + +Indeed, SCG for example, saw their collections drop to only 28% in April of 2020. URW had their USA based collections average only 48% for all of the 2nd quarter of the year. In all of 2020, URW only collected 80% of the rent due, and government subsidies only recouped half of the shortfall. And while SCG has seen their collections level return to normal in 2021, URW’s position has deteriorated further in the 1st half, in part due to vacancies being 60% higher than where they were in 2019. Many of those vacancies represent businesses that are now bankrupt. + +&#x200B; + +[But are they going to make it into the green again?!?](https://preview.redd.it/tdjid5b9cqt71.png?width=1200&format=png&auto=webp&s=6fe167e2fba0afa6cf7639384711b390285f2936) + +The positive here is that companies like SCG and URW were able to cushion the fall for many of the retail outlets that rented from them, and its likely no small part of why those outlets survived. Examples like Myer and Premier Investments show the circumstances facilitating negotiations with their landlords on rent and space allocation, which have ultimately put those companies in an excellent position to recover. At the end of the day, the retailers and landlords have a symbiotic relationship, and so in the long run this will benefit both. But the immediate costs and the further impact to future revenues is not insignificant to the owners of these centres. + +# The Outlook + +Almost 20 months on, it is still hard to say where we are going from here. Though, at this point most of America, the UK, and Europe have reopened. + +&#x200B; + +[From URW 1H21 report](https://preview.redd.it/054iausgcqt71.png?width=1800&format=png&auto=webp&s=15f99eb83aee6c3052b5e9f0e1e91801d42537ab) + +That isn’t to say none of those places could reverse course. Indeed, in the case of Australia, we are experiencing some of the worst of the lockdowns now in 2021, ironically at the same time that the rest of the world is getting back to some semblance of normality. However, it might be reasonable to think that by 2022, even the penal island of Van Diemen’s land, complete with their D-tier pollies, will see the restrictions finally removed. Let’s hope every one of us can take a naked breath and go to the shops then. + +&#x200B; + +https://preview.redd.it/tx6m3emjcqt71.png?width=1200&format=png&auto=webp&s=cd8db65f5c8771110fea0beae0be8939fb9e0752 + +Otherwise, there might be a bunch of desperate housewives stuck at home and without their retail therapy… Not good! 😺 + +# The Verdict + +Ultimately, the net effect of all this for SCG and URW has been a matter of debt. Both companies, with their massive balance sheets of real estate have been juggling billions in debt to stay solvent. Luckily, both were in relatively good positions to start with. SCG powered through the tough periods without conducting a capital raise. And while the URW board attempted to launch one, it was voted down resoundingly by shareholders. Both are significant, as any capital raise under the circumstances would have been dilutive. No surprise then when URW shares jumped almost 40% after it was confirmed that the resolution was declined. + +&#x200B; + +[Charts from 2020 & 1H21 reports](https://preview.redd.it/vbyu0n0ncqt71.png?width=2000&format=png&auto=webp&s=1013711bf4686a4925f7ad9a468f4969401f581f) + +One thing that each have going for them is that the bulk of their debts are spread out over a very long time period. Currently also, at quite low interest rates. SCG’s rates are quite significantly hedged on top of that. So should things continue to improve from here, it would seem these companies are at very low risk of having any issues paying for those. Though, it must be said that URW’s position is much more tenuous, with a couple of its covenants now borderline at risk. + +Despite the massive debts, each has quite a bit of net equity. This is the natural benefit of companies that hold enormous balance sheets of tangible assets. Indeed, both shares trade for significant discounts to their net tangible book value right now. So should the worst occur, there is still the option of selling off some assets to fund commitments. As it stands, with large portfolios in real estate and with that sector appreciating hand-over-fist since the start of the year, one expects that SCG and URW will be net beneficiaries and developing situation there will only improve their position. + +I think it's reasonable to think the current strife will largely prove to be transitory, and in the end, both stonks will likely represent excellent long term investments if acquired at the right price. + +# The Target + +So, the question is, what is a good price? + +**Historical Averages** + +https://preview.redd.it/igs2nlwpcqt71.png?width=1449&format=png&auto=webp&s=fa33834a735e5ab4e97a42c222ee9143a5e710a5 + +Of all the stocks reviewed on this series, perhaps these two are the most suited to value based on historical averages. With their primary revenue source from multi-year leasing arrangements, changes in revenue will tend to be slow and gradual. Explosive revenue growth and speculative moves in the marketplace are almost non-existent. + +Thus, I think when evaluating stonks like these, the underlying profits (tangibly represented by their dividend yield) and the equity appreciation (represented by their book value per share) are the two most important factors. When buying into a real estate style of investment, one hopes to achieve a positive cashflows from rent, with an otherwise solid store of value in the land & property. + +**2020 and Systemic Risk** + +Firstly then, there is the question on whether to include 2020 in the valuation at all. These past 20 months have been pretty unusual in the scheme of things, so it might be reasonable to look at the previous years a better indication of valuation. However, I think in this instance it is prudent to include 2020, given thus far the difficult trading conditions have continued into 2021. At the end of the day, both years are representative of the additional systemic risk one takes on when investing in real estate. + +**Underlying Profitability** + +Secondly, I think it’s important to try to decouple the variations in asset value from the net profit line. Such an asset heavy stock can have wild variations in statutory figures as a result of reporting requirements placing appreciation and impairments into the profit line. + +* On the one hand this is a good thing, as it allows one to better capture the appreciation of assets as part of one’s earnings. Like a house one is renting, there’s the revenue stream from renting, and the intangible appreciation of the house’s value, but both are important in representing the value proposition of buying the house to begin with. +* On the other hand, including asset values in the earnings obscures whether the underlying assets are even profitable to begin with, or merely coasting on the passive inflation of the assets. One might further observe that book value already captures that aspect of the investment, so it's double counting the asset appreciation by inclduing it onto the earnings line. + +And while I’d prefer to use underlying figures, the issue of establishing a post-tax amount is difficult, since appreciation and impairments tangibly affect the net tax obligations. But we can sort of sidestep that by looking at dividend yields, as they represent most closely the underlying earnings of the companies. + +However, it is important and informative to review the underlying figures themselves to gauge the relative health of the business. In this case, we can see that URW’s position in 2020 was much worse than SCG. They lost $2.5b in tangible value, not including the $11 odd billion additional losses in the form of impairments. SCG managed to squeek through the year with marginal gain. The contrast is worth highlighting. As of the 1H21, SCG is operating with an overall positive cashflow position, while URW is still losing money. This I think is relevant to factor in when considering how heavy to discount a fair price for each for one's margin of safety. + +**Valuation Based on Yield & Book** + +With all that being said, I think then one can approach the valuation of this stock in a few important ways: 1. historical dividend yield; 2. their current yield; 3. their current net tangible book value. + +&#x200B; + +https://preview.redd.it/b5bxigxscqt71.png?width=696&format=png&auto=webp&s=994d1534ba3e6be6ada03fd7782d3e65d381a504 + +From this, to develope a relevant target entry, best approach may be simply to add a margin of safety to the preferred metric. + +**Short vs Long-term Hodl** + +For a short-term hold, perhaps neither of these stocks are going to be the best of performers. URW is not expected to pay a dividend and SCG may continue at a reduced level for 2021. When they return to a more historical level is anyone's guess. As such, their immediate fair value is less than what they are currently trading at. And one has to hope that things do not become any worse with their position, as their property values are interrelated to their earning potential (hence we see the massive impairments on URW's latest reports). + +As for a long-term hold, I think both are a clear buy, even when factoring in a large margin of safety. URW would appear to have the most upside between the two, but also represents the highest risk for further downside. URW’s board put forward a resolution to do a dilutive capital raise at the end of 2020, whereas the SCG board were adamantly against one. URW’s position with their debt covenants is also riskier in comparison to SCG. A would-be investor would be confident that SCG should maintain value with limited upside, while an URW investor might see their investment take a major hit if they are ultimately forced into a capital raise. + +**Notes on Management** + +https://preview.redd.it/of1ebgg5pqt71.png?width=2200&format=png&auto=webp&s=1aed3b027a6797ae2d7c5de2e2b2176d308ccf8e + +Furthermore, I think it’s worth also noting that URW, operating exclusively overseas, reports and operates under a different structure, which in it of itself presents an element of risk to the shareholder. It also makes it somewhat more difficult to evaluate. For example, I haven't had any luck getting information on the shareholder registry. And just read one of the recent headscratcher announcements above regarding one of the board member's goings-ons. With less transparency on who owns the stock and how much skin in the game the board and CEO have, it’s hard to evaluate their conviction in the company and the alignment of their personal incentives, as well as the alignments of the owners. + +SCG on the other hand are based in Australia first and foremost and so we can see the major shareholders list, and know the holdings of the board and CEO. And with 5% of the $15billion market cap company held, it's a pretty good insider presence for such a large market cap stonk. The CEO Peter Allen alone has indirect holdings presently worth $18million. In addition, board members have been buying the stock and exercising options throughout the last few years. These are very positive signs and point to a management that are motivated to preserve shareholder value. + +**Conclusion** + +I personally would tip SCG over URW, despite a lower upside potential. However, I can definitely see both being great holdings in the long run. + +# The TL;DR + +With 60 years of history in Australia, and millions of visits each day, Westfield shopping centres are some of the most iconic in Australia. In the many years since they opened in 60s, Westfield expanded to become one of the largest chains of shopping centres in Australia, with locations in NZ, America, UK, and Europe besides. + +[The Original, \\"Westfield Place\\" in Blacktown NSW 1959](https://preview.redd.it/50sffx68dqt71.png?width=1280&format=png&auto=webp&s=206e861ec9ff33cb9bf7efe3df71e73ae40cacdf) + +Their history as a stock is a bit convoluted in the last 10 years, with demergers and acquisitions aplenty. The end result left Scentre Group owning and operating the Australian and NZ centres, with the North American and European centres under management of the European based retail investment group, since rebranded as Unibail-Rodamco-Westfield. + +Since 2020, both have suffered some difficult times with lockdowns and restrictions heavily impacting their businesses along with the retail companies that they work with. However, with their their massive balance sheets, and a bit of debt juggling, they have been able to weather the circumstances well thus far. Trading under net tangible value and having some pretty impressive historical dividend yields, either could be a decent long term hold. + +*As always, thanks for attending my ted talk and fuck off if you think this is advice.* 🚀🚀🚀 + +*I'd love to hear other's opinion on SCG or URW and whether there is potential here that I am not seeing. Also, suggest other dogshit stocks that are/were on the ASX 200 index, and I might put them on the watchlist for a DD in future editions of this series.* + +*On Deck Next Fortnight: RRL* + +*Currently on the Watchlist (no particular order): CGF, IPL, Z1P, RFG, AZJ, FLT, QAN, CWN, FNP, MFG.* + +[Previous Editions of Catching the Knife](https://www.reddit.com/user/Nevelo/comments/sfc7gi/catching_the_knife_series/) +Welcome to the Daily General Discussion thread of /r/EthTrader. + +*** + +Thread guidelines: + +- Please refrain from discussing non-Ethereum related tokens here. You are welcome to discuss altcoins in the Daily Altcoin Discussion thread. +- All [sub rules](https://www.reddit.com/r/ethtrader/about/rules/) apply here so please be familiar with them. + +*** + + Resources and other information: + +* Newcomers who have basic questions about Ethereum can find answers by visiting /r/EthereumNoobies or our Ethereum Education wiki page, [see here](https://www.reddit.com/r/ethtrader/wiki/education). + +* To view live streaming comments for this thread, [click here](https://reddit-stream.com/comments/auto). Account permissions are required to post comments through Reddit-Stream.com. + +*** + +Enjoy! + +Everything started on Twitter when a user showed a screenshot of a conversation with Unicredit customer support. He complained that he couldn't send money to FTX or Crypto.com + +The support told him to not do it because it's against the bank's policy. He asked where this policy was written and the answer was "it's not written in the contract, it's just a policy we have". + +The customer service told him also that anyone who tries to send money to any crypto exchange will be reported (to whom? Lol) and their account will be terminated. + +**After this post became trending on Twitter, the official Unicredit account tweeted a statement confirming that their policies forbid customers to send money to any crypto exchange.** + +You can see the thread here, however it's written in Italian but you can use Google translate: +https://twitter.com/UniCredit_IT/status/1479527599890173952?t=9PYE2-UqUCvtIdRMHjZEsw&s=19 + +I don't have an account at Unicredit because it's a terrible bank previously related with the worse politicians in the country, however it's a big European bank so I advise every customer to close their account and move to another bank. +I have 150 shares of T at an average cost of $34. While I love receiving $320 a year in dividends, I highly regret buying this stock. And yet I still hold it. + +WHY I REGRET: + +1. $150B in debt. That’s an insane total. Although to their credit they held true to their promises to prioritize paying off debt. 2 years ago it was at $180B + +2. Seemingly everyone hates them, even their own customers. No one loves them + +3. 5G infrastructure costs will probably be a significant burden on profitability/cash flow + +4. A history of baffling and overpriced acquisitions, like DirecTV + +5. They are now the smallest telecom provider of the Big 3, behind Verizon and post-merger TMobile + +6. They strike me as an inefficient bureaucracy + +7. Long term share price depreciation, despite a historical bull market + +8. Mass exodus of Time Warner leaders since the acquisition + + +WHY I’M HOLDING + +1. Love that dividend + +2. HBO Max has growth potential comparable to Netflix. Share price growth could be comparable to Netflix’s too, right? + +3. They’re selling off underperforming business units and becoming more agile/efficient + +4. Holding telecom is like holding a utility, but supermassive and less accountable to society. And T pays the biggest dividend in telecom. + +5. Too big to fail? + +6. New, seemingly-refreshing, dynamic leadership in CEO John Stankey + +Let’s settle this once and for all. Is AT&T good or bad or what? +The Mods are fallible. Aren’t we all? Being that this group of mods is typically very good, I expect them to get out in front of this mistake shortly and apologize/clarify. + +How many times do we need to re-learn the same lesson? We must wait for a nuanced review of the 8K before we get hyped on vote totals. Stay zen apes. + +Edit: + +Just to add a little further note of caution, what we saw here today was essentially motivated reasoning. We all want to see statements about more votes than possible so we saw one where one didn’t exist. I’m not saying the mods are bad, I’m saying they are human and that we all have lessons to learn from this. We have grown so much over the last 6 months and we will learn from this too. Avoid motivated reasoning. Try to be objective. + +Edit 2: + +When I say 8K, I mean a form 8K which is filed with the SEC. 8K is not a price target lol +TL;DR - I'm 32, married, net worth of \~$17.5m ([proof to show I'm not a troll](https://imgur.com/a/z06ZhWa)), thinking I might want to retire now and not sure what I should do next. + +A bit about myself. I grew up super poor (like, couldn't afford heat/food and went to bed freezing/hungry fairly often. Both parents were homeless for some periods of their lives). Because of this, I've managed to live quite a bit below my means when I got money and didn't increase my spending proportional to my income increasing. + +Over the last 10 years, I've been fortunate enough to work my way up quite quickly and most recently luck out with a high growth startup that became a large, profitable, publicly traded company. I currently have a VP level position at this company. I've always been a workaholic (averaging 70-90hr weeks) and thrive on being busy. + +I'm going to spare the details but lets say over the last few months, I had some eye opening experiences that made me realize I don't want to grind like this anymore. I've worked the equivalent of 30 years over the last 10 and I think it's time for a break. That's when my friend suggested FIRE. + +As it stands now, I really have no idea where to begin now that I have enough money. My wife and I spend about $200k/year now but I'd expect that to increase a bit given that we want to travel more, take some classes, and do other things with our free time. How should I invest this money? Should I move to a different state for tax reasons? My financial advisor suggested I hire a wealth manager, but what does that entail? + +I know that once I make the decision, it will take about 6 months to leave my current position at the company. But man, I'm excited to start the rest of my life. I just don't know where to begin. +*Note: I just want to clarify that I am definitely not encouraging anything illegal, I was just in the moment and wanted to survive. I definitely have no plans or intentions on continuing something like this in the future for any other thing.* + +*I want to thank the lovely redditor on writing an appeal on my behalf to have my post revived (and was given the green light to repost).* + +I'm a 15F high school student. + +Every year, my school asks for forms to verify that you live in the area (so you can go to the school), and along with others forms for medical physical, etc. + +That time of year was about a month ago; I had to submit the forms. I still had the expired lease from last year, but hoping that our recent month's electricity bill can sub for the expired date to confirm that we indeed still lived there, I submitted it. About a couple days later, I got an email that the forms were rejected due to expired lease, all hope was lost. The rent that is currently paid is $1000, who knows how much they can skyrocket it up too. + +I called my dad and told him the bad news and that means that he'd have to go to the office and get a new lease. I was terrified, money was tight already. We currently have a family friend renting one of the rooms (It's a 2 bedroom place, my mother, older sister, and me all share one room; my dad takes the floor) in the apartment to preserve money on rent, and with the friend plans to move back home to her country...who knows, fear of the unknown. + +The thought of what can happen is already traumatizing, poverty is traumatizing, I can barely imagine being in the thought (of what could happen) without getting depressed and having loads of anxiety. My parents are both immigrants and they're dependent on me to help them with credit cards, banks, medical forms, and so on, so I have an idea of how much my father makes. + +To relieve the stress, I just tried to continue on with whatever I needed to do in terms of just living life. About a week later, I came up with the idea of photoshopping the lease dates to avoid going to the office and having them raise the rent. I definitely knew that is was illegal, but I want to have a home, so, that's exactly what I did; I grabbed a free trial in Adobe, used my somewhat experienced skills and managed to make a convincible photoshopped up-to-date lease, and then canceled the subscription. I submitted it and a couple days later, it was accepted. + +Note: I would definitely accept any advice on how to move forward in terms of better outcomes. I definitely don’t want to photoshop or do anything of the sort again. + + +So far over the last 26 years I have phoned, written, emailed, visited the bank in person, sent recorded letters, sent a letter from my solicitor contacted the banking ombudsman (only to be told this is outside their scope). I have spoken to the Bank Senior management team. +Who else can I contact? + +If this payment is in error is there a time limit and will I have to pay it back? I think I have gone the extra mile in taking reasonable steps to find out who it is. + +Has anyone else had a similar experience? + +What most voters don't realize about high tax rates is that the rich (and wealthy) don't pay them. I don't. When a rate gets high enough, they simply arrange their financial affairs as circumstances demand, or they simply leave. Therefore, high tax rates are SYMBOLIC, not real, for both individuals and businesses. They're designed to win votes and affect progressive imagery. The Infrastructure Bill's crypto legislation, whereby they dismiss the risks you've taken, co-opt your gains, and steal from your children's future to fund programs that have nothing to do with rebuilding America let alone infrastructure, will have the opposite intended effect. It will energize crypto and greatly impair their ability to levy taxes. It will create an unstoppable nightmare, that you should be happy to lever against them in a vicious cycle. + +For a quick signpost to visualizing this, I'd like to proffer an example via the Second Amendment. I'm not a Democrat or Republican by the way, and despise both parties. I believe if you vote for the best of two evils, things only get more evil. Anyway, consider the decades of gun control and assault weapons bans in Illinois, a state which until *Moore v Madigan* (a Supreme Court case) was last in the United States to legalize concealed carry. The gun control was all imagery. Symbolism. The state's cities now have a new problem: cheap untraceable ghost guns. These fall into two categories: 3D printed guns, and 3/4th lower receivers. If you don't know how amazing 3D printed guns have gotten over the years, and where they're heading, watch this tip of the iceberg: + +https://youtu.be/C4dBuPJ9p7A + +3/4th lower receivers come with all the tooling needed to complete them. + +Since 3D guns are open source CAD files that are distributed for free on the internet, and because many intricate 3D gun designers consider themselves artists, it's now become a 1st Amendment issue. My point is when you restrict freedom, it goes underground and strengthens from the threats above, sheds its unprotected vectors, emerging often as something far more impairment resistant. Those ghost guns are never leaving Chicago, and will proliferate everywhere eventually. It's a fantastic little business. Meanwhile, gun control advocates have another front (another Amendment) to fight, and have been backed into a corner where they have to actually propose ideas of value, and solutions, no symbolism. In the United States at large, if you'd like to know how disruptive 3D guns are, consider the strange bedfellows they've made of gun manufacturers (who view it as a financial threat) and Democrats.... + +It'll be far worse legislating crypto with tactics borrowed from the failed drug war. The Infrastructure Bill law, assuming there's no amendment to it in the next year, goes into effect January 2023. Here's what you can expect shortly before its implementation: + + - Hardware wallets will be on multi-month backorder + + - A certain privacy coin with atomic swap capability will rally as its service is levered + + - Crypto friendly countries will advertise their pitches and roll out red carpets; airlines routes will expand + + - A match will get taken to DeFi setting off a liquidity explosion as crypto seeks safety. It will reach critical mass and become a major threat to bank margins. More than 10% of the entire supply of BTC could get wrapped (this is temporary), it's already at 2% and atomic swap solutions are being tooled to avoid wrapping making things easier. But most importantly there will come an outbreak of synthetic assets (synths), which will be more disruptive than even I can contemplate, causing US stock markets, and all kinds of markets all kinds of problems + + - Then emerges decentralized insurance on a commercial scale (I'm already insured through NexusMutual) which will erode the advantages of CEX's further + + - And finally the overlooked problem for governments which benefits the little guy and individuals most: LocalBitcoins.com, as it has another moment. For anyone that doesn't know, this is how you sell crypto for cash (and vice-versa) with locals around you. Tax-free, record-free, like we did in the old days. I've been using it for many years. There are plenty of solutions like this that will rise to meet demand while the USD still maintains its peg. + +I won't get into how the Lightning Network can aid and abet, but know the aim of this post: you're a fool if you pay crypto taxes, and for newbs, after your brief honeymoon with CEX's like Coinbase, Binance, or RobinHood to learn the basics, you should have a hard wallet and feel your way around DeFi. + +Privacy solutions continue getting better, the friction of crypto wallets and DeFi continues falling, crypto education is proliferating, and decentralized insurance (a billionaire making opportunity) will emerge. The ability for governments to levy taxes will become impaired. This means more global money printing, and the militarization of tax collection agencies. It's a vicious loop though, and how soon governments will lose their ability to afford any enforcement. Eventually only real solutions, ideas of value, and transparent accounting will incentivize taxpayers enough to open a payment channel. The prestige of politicians fades. + +♾/21M + +— *Mallardshead* 🦆 +Joe "podcast is moving to Spotify" Rogan made [headlines recently when he announced that he has signed an exclusive deal with Spotify](https://www.nytimes.com/2020/05/20/business/media/joe-rogan-spotify-contract.html). + +The multi-year deal is reportedly worth more than $100 million. + +Within just 48 hours of the announcement, [Spotify's market cap increased by nearly $4 billion](https://www.musicbusinessworldwide.com/spotifys-market-cap-value-soars-by-nearly-4bn-in-wake-of-landmark-joe-rogan-podcast-deal/), to it's highest point in nearly two years. + +At the time of the announcement, Spotify's share price was around $169, with a market cap around $31BN. As of yesterday, their share price hit an all time high of over $195, with a market cap around $36BN. + +Clearly, this is a big coup for Spotify, who have nabbed the biggest name in the podcast world and one of the biggest stars on YouTube. + +His podcast is the number one podcast in the world and gets as many as 190 million downloads per month. In fact, he was [Forbes highest-paid podcaster of 2019, raking in $30 million](https://www.forbes.com/sites/arielshapiro/2020/02/03/crime-does-pay-my-favorite-murder-stars-join-joe-rogan-as-highest-earning-podcasters/#177986913773). + +Of course, this had led to a discussion about the value of content, specifically the value assigned to music and longer form content like Rogan's podcast. + +According to music writer [Ted Gioia, a musician would need to generate 23 billion streams on Spotify to earn what they're paying Joe Rogan for his podcast rights](https://twitter.com/tedgioia/status/1262930316253110276). + +It is important to understand the context here: + +**For every dollar in revenue the Spotify earns, it sends 65 cents straight to the record industry.** + +**This caps Spotify's earnings potential, and means that it has a less robust business model than Netflix.** + +**For example, if Netflix pays, say, $30 million to make a new season of Ozark, that cost doesn't increase if it attracts more eyeballs. Media Rights Capital, which produces the show, makes the same money from Netflix regardless of whether the audience is 5,000 or 5 million.** + +**However, that is not the case with Spotify: costs** ***rise*** **with subscribers.** + +**Every stream will see another slice of the listener's monthly subscription fee go to the record label.** + +Spotify has a gross margin of around 25%, whereas Netflix has a gross margin of around 38%. + +Spotify has recently spent more than $600 million acquiring four podcasting firms, [including the $250 million acquisition of Ringer earlier this year.](https://www.bloomberg.com/news/articles/2020-02-11/spotify-said-to-pay-250-million-for-ringer-in-podcasting-drive) + +Therefore, for a capped cost, Spotify can attract new listeners and potential subscribers. Also, the more time listeners spend on podcasts, the less money Spotify gives to the record labels. + +[The deal has raised comparisons with Howard Stern](https://www.forbes.com/sites/arielshapiro/2020/05/19/the-new-howard-stern-podcast-giant-joe-rogan-inks-exclusive-deal-with-spotify/) and SiriusXM, which has made Stern a fortune. + +[In 2019 alone, Stern took home an estimated $93 million.](https://www.forbes.com/profile/howard-stern/#5bedd7033dc7) + +If video killed the radio star, did Spotify just kill the YouTube star? + +Or is this a smart move on Rogan's part? + +After all, it is expected that some clips will remain on YouTube for the casual algorithm viewers. + +Rogan has previously been [critical of YouTube's demonetisation policy and censorship on the platform](https://reclaimthenet.org/joe-rogan-youtube-demonetization-policies/). + +Overall, Rogan is banking a guaranteed $100 million in an [uncertain economic environment](https://www.youtube.com/watch?v=OsAfJMNtxsU). + +Although some have commented that he is sacrificing the scale provided by YouTube, he may well still have his clips channel on YouTube. + +As well as this, he is *licensing* his podcast. + +Therefore, if it fails, he has pocketed $100 million and can return to other platforms, thus generating more press. + +If it succeeds, he has pocketed $100 million and will have more leverage in the next contract negotiations. + +Now that's a win-win. + +What are your thoughts on the move? + +[https://www.youtube.com/watch?v=TePsYC-RQQs](https://www.youtube.com/watch?v=TePsYC-RQQs) +https://www.cnbc.com/2022/05/24/snaps-down-32percent-and-its-dragging-other-stocks-down-with-it.html + +>Snap shares plunged 40% on Tuesday, putting the company on pace for its worst day ever and dragging down other social media and digital ad company stocks. + +>The tumble comes after Snap issued a warning on Monday to investors saying it won’t meet its own targets for revenue and adjusted earnings in the current quarter. + +>“Since we issued guidance on April 21, 2022, the macroeconomic environment has deteriorated further and faster than anticipated,” the parent company of Snapchat said in an SEC filing. Snap’s shares are down about 83% from a 52-week high in September 2021 and are off 70% year to date. + +>The filing also led its peers with a heavy reliance on advertising down in the afternoon. Shares of Meta were down more than 8%, Roku fell more than 15% and Pinterest dropped over 24%. Alphabet and Twitter dipped 6% and 3%, respectively. + +>Snap’s warning is also impacting the ad tech industry. The Trade Desk fell 18%, Magnite slipped 12% and PubMatic is also down more than 13%. + +>“We expect all online ad platforms to feel some impact of a significant consumer pullback,” Morgan Stanley analysts said in a Tuesday note to investors. “Advertising is cyclical.” + +>Fears around inflation, interest rate concerns, continued supply chain issues and the war in Ukraine have forced some advertisers and brands to rethink ad spend in the current quarter. Companies, including Snap, have been pressured into slowing hiring and cutting back costs in an effort to make up for losses. + +>“We see no real reason to not take Snap’s negative pre-release at face value. Digital advertising is cyclical, but like all advertising, and Macro headwinds are very likely getting much harder,” Evercore ISI analysts said in a Monday note. +I'm seeing posts around on different reddit subs claiming TurboTax's free service is no longer actually free this year, and they try to charge you at the end after you entered your info, is this true? I filed using them last year using their free service and it worked fine, what did they change? If so, any good alternative services to try instead that are free? +I maxed out contributions to my 401k and have two pay periods left in 2020. Looking for advice on what to do with the next couple paychecks. + +Context: +Married, filing jointly. One dependent, but will have another before end of year. Family does have 6 months of emergency savings. No credit card debt, have a mortgage and 1 car payment. Excellent credit. Wife and I share all finances. + +Near term, we’ll be getting a new car to support expanding family. Longer term, we’ll need to get a bigger home (5 years or so). + +I see a few options: +1. Have my wife boost her 401k contributions to cover what I would have contributed ($755 per pay period). This won’t completely max out her contribution limit, but it will be close. I do expect we’ll owe money to IRS so lowering taxable income is enticing. +2. Put the money into my company sponsored Roth. I don’t mind our plan and it has good low cost options, but this takes away flexibility. +3. Use the cash for more money down on impending car purchase. I don’t like car debt, but rates are so low that it seems reasonable to take on debt and make investments that I can expect to exceed the APR of any loan (2.69%). + +Edit: just got out of a meeting and this has gotten a lot of great responses. Thanks for all of your help! + +One thing I’ll add is that my company doesn’t match 401k or Roth contributions. + +Edit2: it’s going to charity! Excellent suggestion u/biancaschild +Don't click the link. we dont want to encourage this kind of unqualified opinion. + +TLDR: Suze says $5M. Most people have less. $68k not enough to retire on. + +Carry on. + + +> +> +>The FIRE movement is doing a major disservice to retirees and soon-to-be-retirees. +> +>I’m referring, of course, to the so-called “Financial Independence, Retire Early” movement. Followers save a disproportionately large portion of their salaries in their 20s and 30s, in order to retire early—say at age 40—and live on their savings for the rest of their lives. +> +>The debate about this movement so far has been largely about the assumptions behind the financial model that shows how it’s possible to retire at age 40 with what has been saved over the prior 15 years. My beef with FIRE is not with either those assumptions or the model itself, but with something even more fundamental. +> +>This more fundamental problem is that the FIRE movement is irrelevant to almost all individuals, and as a consequence is dangerous. Only a very small minority of individuals have sufficient assets to retire early at more than a subsistence level. And when they realize how much smaller their 401(k)s are from what would be needed, they may very well decide to incur far riskier strategies than they would have otherwise—and end up worse off than they would have been had the movement never existed. +> +>To be sure, there is a debate raging today among retirement advisers over how many assets you need in order to retire early. Suze Orman, the personal finance guru, believes you need at least $5 million. Others, such as Mitch Tuchman, believe that’s “nonsense” and calculate that the requisite number is closer to $1 million. +> +>Regardless of what that number is, however, I think we can all agree that the vast majority of investors don’t come anywhere close. +> +>Take a look at the accompanying chart, which plots data from Vanguard on the typical size of 401(k) balances as a function of age. Consider investors in the 35-44 age group, which presumably is the target cohort for retiring early. On average, they have just $68,935. The median account size—the level for which half have larger balances and half smaller—is $25,800. +> +>An investor who retired with a 401(k) balance this size and who utilized the so-called 4% spending rule would therefore have to retire on yearly income between $1,032 and $2,757. Good luck with that. +> +>And note carefully that Vanguard’s survey reflects account balances among investors who have a 401(k) in the first place. Many more do not. +> +>Of course, because of Social Security, the picture painted by the meager average 401(k) balance may be too bleak. But Social Security doesn’t kick in until age 62, at the earliest. So it doesn’t do much to help during a retiree is his 40s and 50s. +> +>So what good does the FIRE movement do to tell someone that they can retire at age 40? +> +>It’s akin to luring a young basketball player to drop out of school with visions of someday making into the N.B.A. The net result in virtually all cases, of course, is that the player will be worse off for the rest of his life. In that regard, I note that we’re already seeing articles about the successful few who have retired early, complete with beautiful photos of the happy retirees lounging on a beach somewhere. +> +>My recommendation is not to even read those articles. To the extent young investors take them seriously, they will be shocked upon recognizing how far short their 401(k) accounts are of what is needed to retire early. And that, in turn, could very well lead them to take on much-greater-than-market risk in hopes of building up a portfolio of requisite size by age 40—akin to a “Hail Mary” pass in football. In my four decades of tracking the performance of investment newsletters, such high levels of risk almost always, sooner or later, crash and burn. +> +>In no way do I intend this discussion to discourage investors from spending less on current consumption and investing more in the future. That remains good and sound financial advice, and to the extent the FIRE encourages these behaviors it will have a positive impact. +> +>Unfortunately, slowly and steadily building up retirement wealth over a lifetime does not appear sexy or exciting, especially when compared with the allure of retiring at age 40. But, deep down in, we all know that slow and steady wins the race. +> +>For more information, including descriptions of the Hulbert Sentiment Indices, go to The Hulbert Financial Digest or email [mark@hulbertratings.com](mailto:mark@hulbertratings.com). + +&#x200B; +It seems like most developed nations run tremendous budget deficits from year to year. The only exceptions appear to be nations which have an unusual richness of natural resources (e.g. Saudi Arabia, Norway). + +I don't know much about economics, but I know some, and I'm really interested in why nations run budget deficits, and how it is possibly sustainable. + +If I personally ran a budget deficit, I'd burn through my savings pretty quickly. If my employer ran a budget deficit, they'd have to raise money somehow or go under. Why are countries different, and why does the budget deficit seem almost routine, and not an eyebrow-raising event like it seems it should be? + +Are there developed countries that do not have unusually fast-growing economies or rich natural resources, which do NOT run budget deficits? + + +Hodling ADA is like you're eating at a 5 star gourmet restaurant where Gordon Ramsey (Charles Hoskinson) is the chef. Its renouned worldwide . Bottles of wine start at $500. All that to say that the food should be amazing. Only for you to be served chicken tendies and soggy fries from the kids menu. + +You look around then down at your plate. "I thought this was supposed to be good?" You think to yourself. + +Here comes your buddy, the guy who invited you to the restaurant. (Put in his entire life savings in at $0.35) + +"Told you this place is the shit bro." Your buddy says as he sits down and is served a TV dinner from Banquet. + +"Oh yeah the food isn't great... right now. But wait until later trust me bro." He says as he starts to unwrap the plastic film with a big grin on his face. + +Just as you were about to take a bite of your tendie Allincrypto sits down at your table. "Sup boys, Allincrypto here." Then immediately takes a bite of a turd Charles Hoskinsin layed on his plate. + +"Oh my favorite!" He says as he leans forward and eats the log apple bobbing style with no hands. + +"Don't think about your food now. Think about the filet mignon of tomorrow." As he goes in for another bite. + +Disgusted, you look out the window at a run down diner across the street. You peer into the window and see families laughing and having a good time. You see the waitress walk over to the table with what looks like a bacon cheeseburger and a new york strip steak. + +"Wow that looks pretty good." You mutter to yourself. + +Just as you say that Allincrypto and your buddy surround you. + +"That place is so shit." They say in unison as they both proceed to shut the curtains from each side. + +Right before the curtains fully close you look up at the neon sign above the diner. It reads "Ethereum diner" + +You turn around and stand up. Everyone in the restaurant has stopped eating and is glaring at you in complete silence. + +"Hail Hydra" they start chanting. + +They all get up and start to surround you while still chanting "Hail Hydra" + +A woman shouts from the back, "Hydra will save us! Kill the non believer!" + +"Im sorry! I will eat my tendie please don't hurt me! That place across the street sucks." But it doesn't work and they proceed towards you slowly. You shut your eyes and prepare for the worst. + +You suddenly wake up in your bed. + +"Omg it was a dream. Thank god." You think to yourself. + +You pull out your phone to look at your portfolio. + +$10,000 bought at $2.68. Portfolio down 69.420% + +You walk over to the bathroom and catch a glimpse of yourself in the mirror. You smile with a tear rolling down your cheek. You notice your teeth are smeared with shit. + +"I wouldn't have it any other way." You think to yourself. + +You proceed to go on Reddit to post about the new Solana outage and check what new features are coming soon to Cardano. + +You look right into the camera. After a long pause you smile and shout "Hail Hydra" at the top of your lungs. + +The camera zooms away from your face and out of your RV thats parked in front of your step dads house and the credits start rolling. + +Fin +i am starting to learn algorithmic trading and I really like it. However, I am far from a math genius. Is it possible to succeed in algo trading without having a great mathematical mind? +> The U.S. Air Force announced on Monday an additional deficiency in the KC-46 Pegasus aerial fuel system built by Boeing (BA.N), classifying it at the Category I level, meaning it is a major technical issue that may endanger the aircrew and aircraft. + +> Boeing is contractually obligated to remedy the deficiency at no additional cost to the government, the Air Force said in a statement. +**Update 1st June 2021:** + +RIP to my inbox, however I managed to go through all messages and updated my table accordingly, main changes listed here: + +\-> (New) T212 total shareholders available + +\-> (Updated) eToro numbers. Apparently [96k GME investors](https://www.reddit.com/r/Superstonk/comments/npc9n7/when_you_purchase_gme_on_etoro_it_states_that/?utm_medium=android_app&utm_source=share) on eToro ! + +\-> (Updated) [Selfwealth](https://www.reddit.com/r/Superstonk/comments/nm2ts4/52584_unvotable_shares_held_by_aussie_apearoos_in/) total number of GME shareholder available. + +I encourage all of you apes to go and ask your broker for data available. Shares per ape, total shares held, total shareholders, it doesn't matter. All data helps. + +\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ + +Hello fellow Apes and welcome to our third and latest episode of: + +# 'Who owns the float?!' + +I do not only envy the Nordics for their full viking hair and their beautiful lady apes, but apparently also for their damn hot stock brokers! Why is that? + +As we are entering the final stage of *'hedgies are fuk'* Nordnet as well as Avanza (both brokers from the Nordics) seem to genuinley care about their customers *(yea, take a slice of that, RH and all you other dirtbag brokers)* and published their proxy vote stats on [freaking twitter](https://twitter.com/avanzabank/status/1397874363056197633). I will save you the click, just see below: + +[Avanza da real MVP](https://preview.redd.it/tf4bipjy72271.png?width=589&format=png&auto=webp&s=4fddc9801512944036343aad59e7a9fb011aa61e) + +&#x200B; + +[shut up and take my money Axel, much love.](https://preview.redd.it/dprsjl2v72271.png?width=368&format=png&auto=webp&s=2cd18f6db9e42fd4761058a3968aa84ae112503f) + +Btw: I heard transparency is a thing in the Nordics, is it true that you can just look up your neighbours tax statements or is that just a myth? + +However, lets look into the numbers. In my [last post](https://www.reddit.com/r/Superstonk/comments/mxrdcb/updated_dd_i_did_the_math_there_is_literally_no/) I made some assumptions, and the by far most critical was: How many shares does the average GME investor hold? **Avanza / Nordnet are answering exactly this question.** + +Quick math: + +|Broker|Total GME Apes|Total Shares held|Average Shares / Apes| +|:-|:-|:-|:-| +|*Avanza*|*22,023*|*322,545*|*14.65*| +|*Nordnet*|*19,206*|*329,812*|*17.17*| +|**Total**|**41,229**|**652,357**|**15.82**| + +**15.82 / Shares per ape. If that doesnt sound juicy, i dont know what does. And even better, it exactly matches with my assumptions from my initial post:** + +[tbh, i am suprised myself how accurate my guesstimate was](https://preview.redd.it/t0o9jy9r72271.png?width=300&format=png&auto=webp&s=58ed5445631d928f0ba7d48213c2ea6972d5604f) + +Okay - with the new numbers being fresh in, lets update our sweet little table. I will narrow it to down to 15 / 17.5 / 20 shares per ape. I believe that especially our US apes hold a little more than the Nordics, just for the plain reason that GameStop is more present in the States. (it even appears that GameStop has [left the Nordic market completely](https://www.reddit.com/r/Games/comments/dq2pkm/gamestop_is_closing_all_stores_in_the_nordic/). Any viking ape here to confirm this?). + +Please see the updated table below: + +[assumptions as of 1st June 2021](https://preview.redd.it/uqd99jb1pn271.png?width=764&format=png&auto=webp&s=fd3e5f49808af4deff5a4d5023ad5fecc8298bfc) + +Yep, you read that right: 173% up to 230% of remaining float seems to be in retails hand. And as you can see, my list is **by far not complete** (just think of all the regular banks that offer trading accounts). + +Just some more hyping: + +[April was a completly sideways crab-walk-month and the volume was nearly non-existent at some point. However even under these circumstances our favorite stock managed to reach #1 in many major european markets!](https://preview.redd.it/oc72s0sh72271.png?width=732&format=png&auto=webp&s=a2a1b6c066c2e7e32dd5a4be003628afddc5a2b3) + +Hold strong my fellow apes, it is the final stage we have entered ! Sorting out the last paper hands before entering lightspeed. And as always: **If in doubt, zoom out**: + +[if in doubt, zoom out](https://preview.redd.it/iaebf1jg72271.png?width=853&format=png&auto=webp&s=4fab1ab6efe4e9750455a8c87f512b48fd4f5620) + +Have a great weekend, see you on market open, cheers ! 🚀🚀🚀 + +&#x200B; + +Sources: [see my last post](https://www.reddit.com/r/Superstonk/comments/mxrdcb/updated_dd_i_did_the_math_there_is_literally_no/) +Hi there, I was wondering if anyone could recommend some books and/or articles on the 2008 financial crisis. It can be highly detailed and focus on a specific topic like the role of shadow banking or something more broad. + +I’d like to come away with a better understanding of the whole ordeal as well as the current banking system so any and all recommendations are appreciated. Thanks a bunch. + +Edit; really thanks a lot to everyone for all the great recommendations, I probably won’t be able to read them all but this has definitely been a great help and hopefully people than me have or will get something out of this thread! +Seems that the full episode got dropped early. The full episode is up, watching it now. + +Edit: + +-Great explanation of PFOF. Calls out Citadel, Robinhood, dark pools, Melvin, Ken and all his pent houses. Show clips from that bizarre Economic club of Chicago interview a few months back. + +-Dave is on. and two guys I’ve never heard of. Also Matt Kohors. They refer to him as a “leader in the Ape movement” (gag) + +-Dave sounding smart af. Talking about how unnecessary complexity leads to vulnerability and inequality in the system. How it was done intentionally. + +-Dave says that Redditors identified a flaw in the system, that GME was shorted over the float. Directly says we are right + +-Guy on the panel makes uniformed opinion about how GME/popcorn aren’t trading on fundamentals. Jon and Dave shut him down. (post got taken down for mentioning 🍿). + +-Shitting on MSNBC and Fox + +-Matt Kohors says some stuff, sounded alright. If I didn’t know who he was, I wouldn’t question it. Didn’t reflect poorly on us. + +-Discussion about how market structure will kill us long term. How inflating the stock market is the only politically viable move. Also mention of how pension funds are the ones getting screwed long term. + +**-Cut to Gary and SEC. Blue shirt, no tie.** + +-Jon getting heated in a discussion about corporate influence in the lawmaking process. Jon says the financial institutions effectively write them. Gary defends congressional policy writers, saying he’s worked with lots of them. + +-Jon calls us apes, says we’ve crowdsourced a way to root out corruption. + +-Gary works with the laws congress gives him + +-Gary says he wants to get things done. But lives within the system. Jon wants him to look outside the system. + +-Gary wants to go after high profile cases to set the vibe. going after “gatekeepers” + +-Ends with an intimate call to action from Dave, asking us to write to the SEC. Say that we want change. Also a link to Bettermarkets.org + +🍏 + + +### Final thoughts + +Jon and the show do a good job explaining the situation to a casual audience. They go in to detail about market structure, how we’re getting fucked. They name major villains from the sneeze. How GameStop was shorted over 100%, and even say directly that redditors were right and justified. + +However, they stop just short of following that conclusion to its next logical points. That this thing never fucking ended. That GameStop shorts never covered. That the chain of liability threatens countless financial institutions. That the stock price is still artificially suppressed, and that GME is an obvious BUY. + +There is no mention of GameStops fundamentals or turnaround, Ryan Cohen, or and specific subreddit. Gary didn’t say much that stood out to me. No mention of the Justice Department investigation. + +Overall, this is the highest quality piece of journalism I’ve seen on the topic from a major source. Still wonder why it dropped a day early? +I just want to know, to set some realistic expectations , how much you can aim for.. monthly, yearly . How much capital is needed. Who's richest in your circle trading forex( don't need personal info) just numbers, either you or your friend.. + +I know it shouldn't matter.. but it's just out of curiosity. + +Like i sometimes think i will be able to get funded with FTMO and build my account up to 600k and i will get monthly payouts consistently.. even if i do like 5% monthly.. I'll be getting around 25k which is huge for me.. is it possible? Or am I daydreaming? And i even think i will one day have 4-5 million dollars in my personal account ( maybe I generate all that money from business) and daytrade with all that capital. Do any of you guys do that?. Give me some numbers +Hi, + +I'm a 30yo Dutch resident. I have about 20-30k that I'm planning to use for big purchases in the next 5 years or so, for instance a house, car, etc. + +In the Netherlands, most banks give a close-to-zero interest rate on savings accounts. Some (like Lloyds) give around 0.15%, which is not a lot but better than nothing. Does it make sense to open an account there to keep my savings? Or is better to invest in something with very low risks and low returns (such as bonds)? Or is this too much of a hassle, and I should rather accept the fact that inflation is a pain and I can't do anything about it? + +PS I'm already investing monthly for the long term, and obviously I'm not planning to touch that money any time soon. + +Thanks! +Hello there, hope you all are well! + +As the title says, I'm interested in moving to another country such as Germany, but the second options are also Austria, Slovenia, and Switzerland and I'm looking for some friendly suggestions from the people that live over there. Just to be clear my plan is to stay there for a while, so I want to become a citizen of that country, get the papers, buy an apartment, etc. + +Basically, I work as a producer and my income is around 5-7k € a month, it has been that way for about 1.5 years already without any drastic changes, I'm self-employed and I've registered a company in my own country but I'd like to move to a different country since I'm not happy here. + +So, my plan was to close my company here, move to another country and register legally my business there, buy an apartment via mortgage loan and live there, I'd still earn the income I mentioned above since my business is online. + +I'd really appreciate it if anyone from any of these countries could write me in as many details as possible about tax rates including VAT, living prices, bills, apartments, etc.. so I can find my best solution. Also, things such as getting papers for citizenship and if the country provides any financial help with starting small businesses for young people - that info would be appreciated as well, some other helpful Infos (i have no debt atm, no children, no wife, own a car 20k€ and have savings 20k€; I'd sell the car when moving so that'd be around 40k€ in savings in total). + +Thankful in advance! +After reading this article I figured it was worth a shot, made a 10 minute phone call and I'm due to get £250 back in the next few days. + +[https://www.theguardian.com/money/2019/aug/20/goverment-yet-to-refund-28m-in-student-loan-overpayments](https://www.theguardian.com/money/2019/aug/20/goverment-yet-to-refund-28m-in-student-loan-overpayments) + +Their number is 03001000611 if you'd like to call. + +&#x200B; + +Edit: I have not paid off my loan, this was for over-repayments I had paid that I should not have. + +Edit 2: Mash the keypad repeatedly if you dont have your number then you'll get through to an operator who can verify you other ways. + +Live total as of 18:21 £29,545. + +&#x200B; + +For anyone unclear on how student loans work or why it is financially prudent to take this refund and use it to pay off more immediate debts/invest it watch this short video. + +[https://youtu.be/M3On2PG1CZA](https://youtu.be/M3On2PG1CZA) + +If anyone wants to say thank you please donate to Cancer Research UK because Fuck Cancer! + +[https://www.cancerresearchuk.org/get-involved/donate?gclid=EAIaIQobChMI6IbEsfSR5AIV14jVCh1yZAhPEAAYASAAEgLat\_D\_BwE&gclsrc=aw.ds](https://www.cancerresearchuk.org/get-involved/donate?gclid=EAIaIQobChMI6IbEsfSR5AIV14jVCh1yZAhPEAAYASAAEgLat_D_BwE&gclsrc=aw.ds) +I've noticed that every gas station in town raises or lowers there prices in unison regardless of the brand of gas station. How is it that they are all so attuned to each other and how are these prices set? Does anyone know? I am not interested in why oil or gas prices raise or lower in general or the seasonal fluctuations as much as why there is so much uniformity across brands in a matter of hours. Where is the price competition? +I love these insights into how other people approach personal finance and spending. Interviewing someone who has moved back to her parents and isn't working might be the maddest one yet. + +&#x200B; + + [https://www.bbc.co.uk/news/business-52578720](https://www.bbc.co.uk/news/business-52578720) +just saw a post on Forbes asking users how they plan to use the $2000 a month stimulus that's getting talked about by a couple of congress persons. + +Just reinforcing the rule to never account for money you don't have. Just like the talk about paying off student loans. If it hasn't happened already, don't account for it. The same can be said for bonuses, regardless how scheduled they are. +Heya friends! Such an exciting day and I have something I can FINALLY contribute to the cause. + +I setup this site: [https://sevenfourone.live/](https://sevenfourone.live/) that shows the total NFTs from the collections & volume across each collection. + +[Site showing aggregate of scraped metrics from the NFT marketplace](https://preview.redd.it/029upzs0d2b91.png?width=2046&format=png&auto=webp&s=edf50ec4f69d3f344e06149d9d965447e62b716a) + +The bot & site code is available here, please contribute by opening PRs if you're a developer: [https://github.com/kowsheek/nft-gamestop-marketplace-metrics](https://github.com/kowsheek/nft-gamestop-marketplace-metrics). Any & all improvements to design & development would be awesome. + +I'll update this again tomorrow in about 12 hours. I hope to automate this over the next few days if none of the fellow developers beat me to it. On this topic, note: I wanted to be mindful of the traffic to the marketplace already so I didn't automate the bot up-front. + +UPDATE: + +\- I've added ETH to USD conversion + +\- Updated with new metrics, freshly pulled. The traction is AMAZING + +[Aggregate metrics with ETH to USD conversion](https://preview.redd.it/23qq4ji3r2b91.png?width=2046&format=png&auto=webp&s=af16869df3f7a4c30b70ad2a615d6bc8c7674f15) + +Signing off for tonight friends, MOASS TOMORROW 🫡 + +&#x200B; + +UPDATE 2: + +\- Added fees metric, assuming 1.25% of volume, if anyone can provide official/documented fee amount (from an API), that can be used instead + +&#x200B; + +[Aggregate volume with fee calculation](https://preview.redd.it/ouw2b7qnu2b91.png?width=2046&format=png&auto=webp&s=6c7b7c873e9b9d45559da6625a1f131e494c9a53) + +Signing off for real now :) + +UPDATE 3: + +HOLY MOASS! I didn't even notice we crossed a million 🔥🔥🔥 Congrats fellow company owners on this successful launch of a new product line 👊🏽 + +Good night, next update will be after the casino opens ✌🏽 +****************** +**Disclaimer.** Before you start a 2nd mortgage to go long on eth: +This is a super early look into what I have found. I still need to do a full transaction analysis but that will take time. That should let me know what contracts all these strings belong to. For now the info I found should be taken with a grain of salt. For all we know they could all be part of some kid's school project. +***************** +I got curious this last weekend and started running some strings searches inside the leveldb files that make up the ethereum blockchain. +basically this: + + strings *.ldb | grep companyname + +To my surprise I found some companies inside. Here is a snippet : + +* 024855.ldb: Tesla Motors, Inc.z2 +* 418686.ldb: Apple Inc. +* 024855.ldb: Apple Inc.z* +* 420119.ldb: Shipping Inc. +* 420135.ldb: Netflix, Inc.z- +* 418777.ldb: Netflix, Inc. +* 420053.ldb: Viacom Inc.z+ +* 418887.ldb: GeoTrust Inc.1 0 +* 418889.ldb: Uber Inc. Series D Stop +* 419738.ldb: Shanghai Inc. +* 420119.ldb: Shipping Inc. +* 420135.ldb: Netflix, Inc.z- +* 420161.ldb: Applied Materials, Inc. +* 420164.ldb: RInca6 +* 420164.ldb: Incorrect num pl +* 420188.ldb: Siriux XM Holding Inc.z6 +* 420246.ldb: Apple Inc.z* +* 420284.ldb: Property Deed. Inc. Flor. +* 420285.ldb: JD.com, Inc.z, +* 420625.ldb: HempE Distribution Inc ValueB. +* 420627.ldb: RInca6 +* 420658.ldb: Cisco Systems, Inc.z3 +* 420715.ldb: PayPal Holdings, Inc.z5 +* 420757.ldb: Incent Coffee Token. +* 422065.ldb: Micron Technology, Inc. +* 422305.ldb: Dubai Construction Inc + +Also found visa assets: + +* 421065.ldb: VisaLoyalty +* 421133.ldb: Test Asset by David for Visa +* 422141.ldb: Asset by visa +* 422244.ldb: Visa Cash + +And ford lol: + +* 024831.ldb: $fordmotorsb + + +Next steps are to run a script to dump all transaction data to a db and reference it with parent block and transaction hash. I can then search through the data for the companies above. Once transaction hashes are found, you can backtrack the transactions and see what contracts they interact with. This should help clarify what all is being built. Might all end up being some college project. + + +edit: formatting +Apes, this is going to be an extremely quick post. I'm sorry that it won't include anything super funny or anything too in-depth but this is extremely important and I had to get it out now. + +I am currently constructing a DD and would've put this message in that DD but this was too urgent and too important to wait (I will be posting that DD this weekend). Ok, so as many of you know, GME is currently fucking the shorts. You've probably noticed that my FTD cycle prediction model was correct again (every 35 calendar days or 21ish trading days). Though I fully believe that yesterday's price action was from the FTD cycle, today's price action got me thinking (and erect). Normally, we do not see a huge rise on the day after the FTD cycle day like we did today. So, what I'm thinking it either a. they threw in the towel or got margin called (.1% chance that's the case cuz it would've rocketed up), or b. they are trying to make a little frenzy right now so apes sell before earnings and the annual meeting. IMO they might be trying to get the price up a little so apes either take their money now or so they can do another one of those monster short attacks like we saw in March. + +I believe that they might be doing this because the annual meeting is likely to have a SHIT TON of good news (that nft shit is the first one and they haven't even confirmed it). My next DD talks, in part, about how GME is consolidating to earnings and that if there is a good announcement on earnings, which is likely, the squeeze could start. SO PLEASE REMEMBER, that even though the price is excellent today it could be the result of manipulation to try to get apes out before the real show starts. The dawn of war is upon us, retards. Be prepared for some fucked up shit. As always.... stay motherfucking strong, apes. + +Edit: anyone else think it's hilarious how much financial media is downplaying this? Really? It almost $100 in two days on no news and retail buying alone? I love how they won't even consider manipulation. + +THIS IS NOT FINANCIAL ADVICE, I AM NOT A FINANCIAL ADVISOR, I AM A FUCKING PRIMATE. +**UPDATE BELOW** + +Hey guys, I just gave a short description of me. I am working remotely bringing in 3600 a month after all taxes are taken out. I am living home since I have no reason to leave. However, I have a lot of questions. + +1. I really want a sports car. Like, a camero, charger, challenger in the 20k range. I already have a SUV with 98k miles, but is this a smart decision? +2. This apartments I am looking at range (with parking included) are 2200 a month (Has literally all the bells and whistles and is so perfect, hence the price. Has a Jacuzzi and standing shower, walk in closet which has so much space that I don't even have enough clothes to fit the bottom shelf let alone the other 3 rows above, movie threate in-doors, etc. etc) or should I go with the 1500 a month that is still really nice, but once again, doesn't have all the shiny bells and whistles. + +My main question is what should I be saving. I know what the smart answers are, and even now, Im saying to myself "Lol, dont get a sports car, save in case your car breaks down and get a reliable, fuel efficient Honda/Toyota(Which, the Accords are pretty badass) + + +But, can I splurge on an apartment and pay 700$ a month more for the luxury? What are some random expenses that come up or is it just plain dumb? I plan on living home for another 6 months or whenever COVID is up so I keep on saving, but when can/should I spend it on something big for myself? Cheers + +Edit* THANK YOU FOR THE ADVICE AND GROUNDING ME! + +**UPDATE** + +Wow. I am very lucky to have found this subreddit. + +1. I watched Graham Stephans video of Roth IRA vs 401k. I am investing in both now. (Going to max the Roth IRA) +2. Sports car = out of my head! The adrenaline rush is out of my head. I bought my car for 14k and paid it off in 1 year. I am running it in the ground and then buying a car in the same range when it dies (A reliable car that will last me longer, not a sports car) +3. I am still going to keep 5k in an emergency fund. +4. Luxury apartment = stupid. After doing research, a mortage for a 400k house is 2k a month... What? Haha +5. I am reading every single comment and writing notes - What is the most popular comments/articles & books to read etc. + +Thank you all so very much. I wish I could personally thank you all for the sound advice you have given me. My head is grounded, my emotions are under control with the hype of looking at these (moneypit) cars and how having a nice apartment means nothing when I cant go out with my friends to the bars! I cant express how much my mind has changed and it is really crazy. Thank you all once again :) +Just got me thinking, since the majority of people here still seem to be DCAing into O&G, and consider the EVs and the renewables "a technology of the future, and always will be". + +I get the appeal of oil and gas companies for Canadians. We like slow & steady investments, and oil companies are at their historic lows with high dividend yield. Oil industry also has a big impact on the country (Alberta), its business culture, and the livelihoods of millions of Canadians, so we have a familiarity bias here as well. I get it, I've been itching to buy Suncor for the past few weeks, too. + +But here in the Toronto area, I see more and more Teslas on the road. Hyundai and Volkwagen are introducing their EVs soon, and the Japanese will follow. I feel like the EV hype completely bypassed us here at r/CanadianInvestor due to the reasons cited above, but there are tangible, real-time developments here that spell nothing but trouble for oil. + +I know I am considering EV for my next car. As a pretty young dude, I am starting to be concerned that climate change will bring about drastic, unpleasant changes to the very foundation of our modern civilization by the time I get old, and I think a lot of people are starting to wake up to this possibility. + +On the renewables side, Lazard put out a report showing that solar and wind are now finally only slightly more expensive than gas or coal when it comes to electricity generation. They put this report out on Nov 2019, which is coincidentally when the renewables ETFs like ICLN and TAN started breaking out. + +And there is still the pandemic (I gas my car less than once a month now), a possible Biden presidency, and the Trudeau government that doesn't look like it's going away soon. + +For Canadian oil companies, I am just not seeing the investment thesis here, other than "it's cheap" and "we will still need oil". Well, I thought that for Suncor at $18, but decided to wait until $17, and then to $16... which is where we are at now. And yes, we will still need oil, but it seems like a terrible investment thesis when our need is projected to be drastically cut. + +Just wondering what you guys all think. +Hi People - + +&#x200B; + +Suffered a severe loss due to NVDA last week. Basically reversed my YTD to gains and then some. + +Not pretty. + +Feeling pretty down. + +This happened because of FOMO and stupid trades (PCS, and tons of contracts), forgetting all my rules and risk management. + +To my question - how do you all handle losses to this extent? + +How should I restart? + +I wound down the positions on Friday and took a break for the weekend. But I do want to start over now that I have this terrible experience mostly over with. +Changed jobs a few months ago with a raise to 110k (poverty in AusFinance sphere, i know!). Although I’m happy with the raise, it got me thinking at what salary is enough? + +Curious to see at what salary is everyone happy to step back from the rat race and cruise? +Or less profitable than fair alternatives. + +I use the term corruption to also include private corruption and many forms of legally allowed practices that are considered corrupt by many fair participants in the economy. Dishonest use of some position of power may be an aproximative definition for moral corruption, if enough morally balanced participants actually care. +I've been around for all of RC's tweets. This is by far the most direct and to the point one yet IMHO. I've seen some Art of War stuff posted recently and I'm not gonna pretend to have read it but I know one of the rules has to be something about "Only attack your enemies when victory is ensured" or something like that. The most RC has said about shorts in the past is simply a pair of [shorts](https://twitter.com/ryancohen/status/1496304618531602432?t=DSsV0RMtpMTqKX-oJ4i5mw&s=19) emoji. Now not only is he putting words to it he also compared the short sellers to the stormtroopers of star wars. Which were basically scrubs. But even worse than that he called them the DUMB stormtroopers. Man oh man it doesn't get any better than this. + +Tldr: Ryan has his eyes on the path of victory and it cannot be stopped. Otherwise he would not have called out his enemies so blatantly. The battle is ours apes. It's been a pleasure boarding this rocketship with you. I'll see yall on the moon soon!! 🌙 🚀 👨‍🚀 +**HOLY MOLY!! ComputerShare accounts are growing exponentially!!** + +**Highest Score (so far):** Current CS MOASS-a-Meter winner is u/damn_u_scuba_steve with account number 254,XXX (date Sept. 20) + +Low Score: 32,XXX (Jan 31 - also the oldest) [u/Sisyphus-Syphilis](https://www.reddit.com/u/Sisyphus-Syphilis/) + +&#x200B; + +[WEN MOON? MOON SOON! Update 7:30 PM EST](https://preview.redd.it/2ubgw1dg8cp71.png?width=779&format=png&auto=webp&s=1c84a425e24913dfbec5847392593530fa9f37cf) + +Data is based on my earlier post (please keep commenting): + +[https://www.reddit.com/r/Superstonk/comments/ptyizl/can\_we\_use\_cs\_account\_numbers\_to\_estimate\_how/](https://www.reddit.com/r/Superstonk/comments/ptyizl/can_we_use_cs_account_numbers_to_estimate_how/) + +Apes please continue to comment or DM with your data (first 2 digits of account number only)! + +There is only one outlier (see that sharp drop with account number 122,000), but it's likely because they purchased directly from CS and got an account number several days before the purchase date - so that date is off. + +I can personally confirm these account numbers are specific to GME since we also have shares of another stock on CS and the account number for that is in the millions. + +\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\* + +**Get ready to GET YOUR TITS JACKED with some MAFFFS** + +Highest account number reported (so far) = 25X,XXX (purchase date Sept. 22) + +This means 250K CS accounts have been opened holding GME! + +If we subtract 40K accounts (because the earliest ape to comment had an account number of around 40K on July 26), that means (250K - 40K) 210K ape and apette accounts on CS just in the last 2 months!! + +Since it takes anywhere from 3 - 10 business days for a purchase to go through and for you to get access to your account number, this number is probably a week behind and we are seeing exponential growth in that chart. + +&#x200B; + +**How much of the float do apes currently own on CS?** + +Based on a float of 35M available to retail (please correct me if float is wrong), we get the following numbers: + +Conservative estimate of 10 shares / account = 210K \* 10 = 2.1M + +Realistic(?) estimate of 50 shares / account = 210K \* 50 = 10.5M (this is 1/3 of the way there) + +&#x200B; + +**What CS account number will be the winner of the MOASS jackpot?** + +Conservative estimate (10 shares/account): CS account number 3,500,000 will be the winner + +Realistic estimate (50 shares/account): CS account number 700,000 WILL BE THE WINNER!!!! (we are already 1/3 of the way there) + +KEEP SUBMITTING YOUR LOTTERY TICKETS APES - it's just a matter of time! + +&#x200B; + +\*\*\*\*\*\*\* + +Edit 1: Clarifying a few points + +1. **These are all GME accounts** (not popcorn or any other stock accounts). I'm waiting to confirm this with CS, but we also hold stock in another company and the account number for that is in the millions (fortune 500 company). Other apes have DMd me the same thing and see [this comment](https://www.reddit.com/r/Superstonk/comments/pu40ur/comment/he1b3pm/?utm_source=share&utm_medium=web2x&context=3) explaining why the data supports this. +2. **254K is the minimum number of ACCOUNTS, not apes**. It's possible for one ape to have more than one account, as several apes have confirmed. In fact, this all started because superstar ape [u/iamthinksnow](https://www.reddit.com/u/iamthinksnow/) posted his/her 3 different accounts showing increasing account numbers. +3. **There's no way to know how many shares are in each account.** But, I'm planning on updating the highest account number daily, and providing some tables. This is information that we all have and can share, and there's no reason not to (there's no sensitive data and positions rule isn't violated). It can be used to calculate some very conservative numbers on how many shares are in CS and how many apes have transferred. Each account has at least 1 share, and I still stand by my earlier statement that 10 shares per account is a conservative estimate. +4. **This number is several days behind.** Between 9/21 - 9/22, apes have indicated account numbers ranging from 220K - 250K and most started the transfer days before. That means 30K new accounts were created in just a few days (no way to know exactly what day the account was created). +5. **Keep the numbers coming!** I will continue to update data if apes keep DMing or commenting on this or the [original post](https://www.reddit.com/r/Superstonk/comments/ptyizl/can_we_use_cs_account_numbers_to_estimate_how/). I'll update the high score daily as the migration continues - but it all depends on you to keep the numbers coming! + +\*\*\*\*\*\*\* + +**TLDR:** The data most likely confirms that CS account numbers have been assigned sequentially. In the last 2 months, apes have opened AT LEAST 210K accounts in CS. Estimating 50 shares in each account, we are already 1/3 of the way to owning the float on CS!!!! Keep submitting your CS account numbers (first 2 digits ONLY). +Im not sure if this applies in the world of stock trading but I would like to know what was the factor or combining factors that made things click in your mind. If you dont mind sharing, what was the thing or things that you were struggling with and how did you solve those issues? +Welcome to the Daily General Discussion thread of /r/EthTrader. + +*** + +Thread guidelines: + +- Please refrain from discussing non-Ethereum related tokens here. You are welcome to discuss altcoins in the Daily Altcoin Discussion thread. +- All [sub rules](https://www.reddit.com/r/ethtrader/about/rules/) apply here so please be familiar with them. + +*** + + Resources and other information: + +* Newcomers who have basic questions about Ethereum can find answers by visiting /r/EthereumNoobies or our Ethereum Education wiki page, [see here](https://www.reddit.com/r/ethtrader/wiki/education). + +* To view live streaming comments for this thread, [click here](https://reddit-stream.com/comments/auto). Account permissions are required to post comments through Reddit-Stream.com. + +*** + +Enjoy! + +🍀Energy Coin🍀 + +A peer-to-peer protocol for sharing, buying and selling energy. + +Decentralized Energy Coin + +✈️ Protocol & Specifications : + +⚡️Trustless - + +The network is fully trustless and permission less, where anybody can join or leave it at their will. Avoid trusted third parties and their corresponding extra fees. + +⚡️P2P Protocol - + +A peer-to-peer protocol running on the Binance Smart Chain network, blockchain agnostic in case of necessary network migration. + +⚡️Utility Token - + +ENRGY is a utility token from the protocol. It allows users to participate on the energy sharing network. + +⚡️Sell Energy, Earn Tokens - + +You can either earn tokens by contributing with energy on the network, or buy energy using tokens. + +✅ Total Supply 100,000,000 ENRG + +✅ BEP-20 + +✅ Clean Tech + +✅ Low Fees + +✅ Liquidity Pool 5% , 3% Marketing Wallet, 2% Holder + +✅ Presale in PinkSale + +Contract: 0x682c1e7437efcb72b522a67ad58bac1e83320a89 + +[https://bscscan.com/token/0x682c1e7437efcb72b522a67ad58bac1e83320a89](https://bscscan.com/token/0x682c1e7437efcb72b522a67ad58bac1e83320a89) + +Telegram : [https://t.me/enrgycoin](https://t.me/enrgycoin) + +Website : [https://enrgycoin.com/](https://enrgycoin.com/) + +Twitter : [https://twitter.com/enrgycoin](https://twitter.com/enrgycoin) +Hey sorry if this is the wrong sub but I’m looking for advice. Me and my bf are not married but he wants to combine accounts. He makes about $10,000 more than me a year but has a lot more debt than me. +We have a rocky relationship but will be having a baby in a month. + +My question is what kind of precautions should I take? If we breakup will I run into any problems? Are there any additional problems I could be getting myself into by joining accounts with him even if we do t breakup? + +I worry about sharing an account with him because it could cause additional arguments and issues. + + +Every 180 days I make another post to [thread it back to the original](https://www.reddit.com/r/Daytrading/comments/fw82ow/after_2_years_of_daytrading_7_months_full_time/) before it's archived. I do this to prevent a bunch of small posts every few days about trivial subjects. + +[Part 1](https://www.reddit.com/r/Daytrading/comments/fw82ow/after_2_years_of_daytrading_7_months_full_time/) (Same link as 'thread it back to the original.) + +[Part 2](https://www.reddit.com/r/Daytrading/comments/j3zlqi/my_1_year_anniversary_of_full_time_day_trading_3/) + +[Part 3](https://www.reddit.com/r/Daytrading/comments/mh0nfp/part_3_my_full_time_trading_career_1_year_since_i/) + +**This is Part 4,** and I'll go over life outside of trading. The previous 3 talked mostly about trading and the outline of my style is written in them. If you're just scrolling and want to know what it managing money when you're income is completely trading. Then so be it. Mind you this is my experience as a single, male, mid-20's, no debt (anymore), minimalist, full-time trader living in Texas. + +**TL;DR** \- Full time trading has its pros and cons. The pros are obvious. The cons are what people don't talk about. The true cost of doing this as your source of income has the propensity to invite an extraordinary amount of stress. Trading is easy (very easy), it's the lifestyle that's not for the faint of heart because bills add up... And trading isn't gambling because statistics and risk management. + +Here's what I'll go over in this post: + +1. **The real cost of being full time** \- *The main one I want to tackle because like I've said in the past, "Risk management as a trader is 24/7." I touched up on this in Part 1 but I really want to break every single expense down and compare it to profits. Think about cost of living and what you're really giving up for this career such as health benefits, matching 401k, easy work, a consistent paycheck, and \*job security\*. This one will also answer the, "****How much do I need to do this business full time?****" Question.* ***It depends on your expenses.*** +2. **Psychology** \- *Briefly. It's a simple subject/debate. Quick paragraph because that's really all there is to "Psychology of trading"* + +I thought about writing this in a, **"Letter to myself 2 years ago"** to potentially allow readers to read it vicariously like a letter to yourself written from yourself 2 years in the future but perhaps another time as a random post down the line. + +There was consideration doing an **AMA** but [read The Wiki](https://www.reddit.com/r/Daytrading/wiki/getting-started-daytrading) if you want my patterns. *(I'm a mod here, I wouldn't mod a subreddit that suggests bad material. Everything to start you out is there. It's fantastic info)*. There's also a few videos on my Twitter from last year. + +**Before I begin:** Trading unfortunately has the propensity to attract gamblers. The entry barrier is so low you could start trading against the pros off a few apps on your phone. Allow that to digest before putting any risk out there. Yes, most lose. But redo that statistic with ONLY people that have a proven business plan backed by statistics then redact those who didn't follow the plan. If you have that with clear cut granular rules.. Fear is the only thing that will stop you from making this a healthy and respectable source of income. I would bet that the success rate would go north of 80%. + +***So we begin:*** + +1) The Real Cost of Trading Full Time: + +**A)** I assume you know exactly what your expenses are *but for the sake of granularity.. let's tackle the meat of everyday people:* + +* **Mortgage (PITI) / Rent** +* **Taxes on your house Home/Renters Insurance** +* **Health Insurance -** +* **Car Note (P&I only)** +* **Car Insurance** +* **Car Preventative Maintenance (Oil, Transmission Fluid, Servicing, Registration/Inspection)** +* **Gas** +* **Utilities** +* **Wifi** +* **CellPhone Bill** +* **Groceries** +* **And don't dare forget about your retirement or kid's 529 savings plan. Just because you trade stocks doesn't mean you don't need to invest. I do it. And yes it feels weird shorting NVDA for a day trade when that's my heaviest allocation since 2018.** +* (We'll get to the biggest bamboozlement of them all in a while...Income taxes) + +Now add some ancillary things in there like: Gym membership, haircut, night out with S/O, gifts for family and friends birthdays, Christmas/Hanukah gifts, and other services but we'll just calculate the necessities then play around with the numbers a bit: + +For visuals: [https://imgur.com/a/2LMW8QI](https://imgur.com/a/2LMW8QI) + +&#x200B; + +These are absolute necessities not including ancillary expenses for homeowners. Of course if you're renting by yourself, with friends, or living at home, adjust for yourself. This isn't including the income taxes you'll pay at the end of the year. + +**So the grand total monthly expenses based on averages I found on Google based off of NerdWallet... $5,253. (Google it if you want. The article is from April 29th, 2021). Some consider savings and retirement to not be expenses but I'm not writing this to grasp at straws over trivial debates. This argument is, "There's money that cannot be spent.. it's an expense to yourself".** + +I'll take that number from above and round it to $5,000. That's way above mine given have the Texas Blue Title to my truck *(Chevy Runs Deep)*, rent my home, don't have health insurance.. [Got some controversial replies on that one](https://www.reddit.com/r/Daytrading/comments/ou2iws/full_time_traders_what_do_you_do_for_insurance/h70o062?utm_source=share&utm_medium=web2x&context=3) but hey, that's my risk. God Blessed me and I don't take it for granted. + +So I'll tell you my monthly expenses although I feel its a little intrusive but I'm sure nobody I personally know reads my posts anyways. Just under $4,000/mo are my expenses for my necessities. Mind you... Single, Texas, Male, Minimalist, I loathe spending money, and I can have fun seeing if I can do more pushups than I did yesterday and throwing the baseball with my neighbor at the fields. + +Let's compare on a monthly basis. (When I say life of a trader isn't luxurious rather it is, "Comfortable", I mean it whole-heartedly.) + +**AVG Monthly Expenses (USA)** + +[https://imgur.com/a/sPnQMcX](https://imgur.com/a/sPnQMcX) + +**AVG Monthly Expenses (Me)** + +[https://imgur.com/a/1FeQhUi](https://imgur.com/a/1FeQhUi) + +Average American Monthly Expenses. Of course this all varies from state to state. This could potentially be biased since I'm from Texas but it seemed decent to me. \*\*\*\*GRAND TOTAL:\*\*\*\* $5,085. + +Now we're starting to see the cutbacks I made to make a living from trading myself... No health insurance, I don't drive anything crazy, no matching in my retirement plan from my 9-5, I barely drive anywhere, cheap liability (don't give me a ticket) car insurance. \*\*\*\*GRAND TOTAL:\*\*\*\* $3,550 of necessities. + +Here's the psychology of all those numbers from above... + +I assume you know [what an R is](https://www.thebalance.com/risk-to-reward-ratio-1031350)... + +So let's take the $5,000 number from earlier. Your monthly expenses that is. And we're talking theoretical backtesting. \*\*\*\*\*\*\*NOT INCLUDING SLIPPAGE OR COMMISSIONS.\*\*\*\*\*\*\* + +1. **At $500 risk.** You would need to make 10R per month **(EASY)** *(0.38R/day Avg. OR 1.9R/week)* +2. **At $400 risk.** You would need to make 12.5R per month **(EASY)** *(0.59R/day Avg. OR 2.97R/week)* +3. **At $250 risk.** You would need to make 20R per month **(Doable. Not guaranteed)** *(0.95R/day Avg. OR 4.76R/week)* +4. **At $100 risk.** You would need to make 50R per month **(Not happening)** This is the risk amount I did when I resigned from my 9-5. Mind you I did personal training on the side. + +**I can make 10R in a month easily. It's happened in a day before**. [But can you also handle potentially losing $500? Or being up 1.8R then having the trade come back and stopping you out?](https://twitter.com/CJT2013/status/1366742864055664641) I can with $500 risk. Could I do that in 2019? **Absolutely not**. I'd have a blood pressure so high due to materializing my trades with what COULD happen and what bills that COULD have been paid as soon as the trade filled. Now in 2021? I do it almost everyday when my edge is shown but that's with years of statistics backing me. Have a look at my spreadsheet stats. I've had the same EV, Sharpe Ratio, Win Rate, key metrics, etc. for years. + +<spreadsheet stats>: [https://imgur.com/a/6AFzQVV](https://imgur.com/a/6AFzQVV) + +This is what helps my "Psychology" and "Headspace" going into trades. This isn't something that can just be handed to you. It's years (months for some) of filling everything out then slicing and dicing data to make it work. "It" being your style of trading. It may not be the most profitable but it's something that you can manage mentally. It's years of, "Why did I take that trade? What was I thinking? I don't want to even fill it out. I won't do it again." Fill out every trade and things will distill down into a strategy that's YOURS. + +I've built these over the years and they tell me the biggest run ups and drawdowns in a theoretical trading account. I know there will be months I make 5R after slippage and some months I make 35R... There will be days I'm up $2,750 in 5 minutes and other days I'm down $1,750 in less than 10 minutes... **There are ALSO DAYS that turn into WEEKS that I don't even touch an order ticket to put on a trade because you don't make money putting on trades. You make money in this business by putting large sums of calculated risk on high EV trades.** + +**Equity Curve Simulator I built:** + +[https://imgur.com/a/BBAyvuG](https://imgur.com/a/BBAyvuG) + +&#x200B; + +Visualize your data. It helps make things seem more real resulting in you honoring your business plan. If you're a man of your word, prove it by following your rules from your mouth. + +I've gone over how to handle losses before. It's simple, it's an expense just like Mark Douglas says. + +**Let's drop the pessimistic scarcity mindset and forget how you handle losses. How do you handle profits?** + +Are you responsible with them? There's this thing called, **"Reversion to the mean".** And we can utter the words, "Oh yeah I know there will be losses and good weeks" But do you sulk over 2 measly trades that ALMOST hit target but stopped you out? Do these 2 or 5 or 10 trades change how you trade forever? It shouldn't but I see it on here all the time people pouting over such a small sample size of trades looking for advice. You do realize there will be times you get smacked around then the market goes quiet for a few weeks leaving you making zero deals for a while from time to time. Do you really care about those 2R or 5R or is it the money that was attached to it? That's the loss side of things. The profiting side of things is different. People start to get cocky. I make more R than my theoretical testing occasionally because of missing trades (rarely). Does that mean I'm better than my backtesting? (You'll never beat your backtesting. It's impossible UNLESS you just so happen "miss" every losing trade your backtesting would have picked up). + +With your extra profits/good weeks do you increase risk and or buy things you don't need? *"I made $2,750 this week. I'll cover your golf game/buy your lunch" <--Don't be this guy. (Not speaking from experience either srs)* + +•There will be weeks you make 13R + +•There will be weeks you lose 5R + +•There will be weeks you reach your limit down R + +•There will be times after you hit your limit down that there are no deals/trades to be made for WEEKS. Plural. Not just 1 week. Sometimes 2 and rarely 3 weeks. Almost an entire month of no trades. + +•There will be times where it seems like the market is handing you free money left and right to where you start to feel bad for people on the other side of your trades. + +Trading isn't a rose garden of free money, it will feel like that from time to time. It will also feel like an absolute money pit. But Central Limit Theorem / The Law of Large Numbers does its magic: + +Actual vs Theory Performance & Growth- + +[https://imgur.com/a/Px4PGaT](https://imgur.com/a/Px4PGaT) + +People have the propensity to look at their performance through a microscope rather than taking a step back to look at the big picture. That's why it amazes me how people use such a small sample size of data (20 - 100 trades) then put large sums of risk on it. Only to pout about later INEVITABLE results. They complain over 2 trades. You will have tough weeks. Businesses do go through hard times and times of euphoria. Think of how people who rent beach houses in the winter vs summer. + +The above picture is looking at the big picture. So let's zoom in to the first 5 months: + +[https://imgur.com/a/EHILbyq](https://imgur.com/a/EHILbyq) + +&#x200B; + +How are you reacting when, "The market is beating my performance. I'd have done better if I just put my money in the market or sold CC's. I'm only up $19,000 in 5 months when I should be up more than $30,000. I broke rules. I took more risk than I should have. I'll stop while I'm ahead". How do you react in the other 23 hours in the day after trades result in losses day after day? + +This is the magic/beauty of Central Limit Theorem / The Law of Large Numbers: + +[https://imgur.com/a/HYO51fu](https://imgur.com/a/HYO51fu) + +[https://imgur.com/a/GD1j79L](https://imgur.com/a/GD1j79L) + +I always say only 2 things can happen in a trade (hence its so EASY). Profit or loss. Heads or tails. This image is of 10 trials with 2 results. Think of the 10 trials like the 10 different times you start trading you strategy live. You might start with a hot streak or a streak of donations to Wall Street. Think of the 2 results as profit or loss. IN THE END. It all averages out, don't be pathetic and pout over 2 or 10 trades resulting in a less than desirable sum + +**So how do YOU decide how much you want to risk? Is it...** + +1. How much you want to make in a month divided by an R per month goal? NO.. The market doesn't know you. You can't force R's to happen. They come to you. There are entire 5 trading day weeks that I don't touch an order ticket. It's not everyday you make a deal. +2. How much you think you can mentally handle? Not the best idea but it's a better idea. +3. A cocktail of metrics such as how much buying power you have, Risk of Ruin, EV, and Sharpe Ratio. *(Notice how I don't care for Win-Rate? Win-Rate only tells/asks you 1 thing, "Can you handle being right or wrong this percentage of the time?")* + +If I had to make a rule of thumb for somebody who wants to decide if they are ready to trade full time. It would have to be reverse engineered: + +**You need to find what your EV is and I'll show an example from a micro sample size of 10** + +You really do require a large sum of data. I mean it when I say, "1,000 trades minimum or a full year of backtesting" (Full year because the market does shift but in the end does not effect a day trader's performance... in MY experience in the long run). Those who get a random 20 or 50 or even 100 and think they're ready to go up against professionals who have electricity bills higher than your yearly income because their computers are running algos and statistics 24/7...you'll learn fast. + +[https://imgur.com/a/ivfOxTo](https://imgur.com/a/ivfOxTo): + +6 trades that resulted in +2R. 4 trades that resulted in -1R. Average of all = 0.8.. "Expected" is just how statisticians say, "Average". What this is saying is you can EXPECT 80¢ for every dollar you risk on the amount of trades you're testing. This is why when I lose a trade OR profit on a trade. I don't think, "Wow I made $958 after slippage." or "Wow I lost $582 after slippage". When I see my edge, I think to myself, "Ok there's <EV> right there. I see income on every trade if it gets filled. Losing trades don't bother me. I have contingency plans... And don't ever say, "I won that trade". Businesses that sell <something> don't say, "Oh cool we won". You don't "Win" when you're assuming a risk. Trading isn't a game that you play. + +**2) Find how many trades on average you have. Let's say weeks 1-4. You have 20 trades on the first week, 1 on the second week, 0 on the third week, and 7 on the last week. (I'm using a micro-size sample here again. You really need A LOT more)** + +[https://imgur.com/a/PWYSqsH](https://imgur.com/a/PWYSqsH) + +I can EXPECT 7 trades per week (ETW). IF I can expect 7 trades per week and each trade will result in 80¢ for every dollar I risk... Is this enough to cover my expenses AND TAXES SO THE GOVERNMENT CAN WASTE IT ON CRAP THAT DOESN'T HELP THE PEOPLE WHO PAY THEM.. and a little more so I can have a life outside of home. 7 trades per week \* $100 risk \* 0.8 per trade = Gross Income of $560 + +Maybe $560 (before taxes) is enough for you to survive. I don't know you or your personal finances, that's your business. For most.. it's not. So let's increase it to $250. For the sake of simplicity we know 250 ÷ 100 = 2.5. So $560 \* 2.5 = $1,400 EXPECTED (not guaranteed) per week.. GROSS income. You'll have to determine how much you need to set aside for taxes when you have that year of data that tells you what you can EXPECT to make that year. This seems more like it... I like this. + +**3) Does your account size and margin parameters allow for this?:** + +&#x200B; + +Let's say you have $37,500 in your account that has 4:1 leverage which allows for $150,000 in DayTrading Buying Power...and you're risking $250 a trade... Risk ÷ StopSize = Shares/Contracts to buy --> Shares to buy \* Price = Capital + +**Now let's visualize the data:** + +[https://imgur.com/a/FFEsLK3](https://imgur.com/a/FFEsLK3) + +The 2nd position wouldn't have been able to be made. If you're running into buying power issues in your backtesting, either reduce your risk or find what's causing this. Perhaps it's the type of style you're trading or a certain pattern that has an inclination to exhaust buying power due to tight StopSizes (Tight StopSizes incur lots of slippage). + +Now most would say, "Oh well I'll run into that if that ever happens. It's only 1 trade". That's 100% wrong. Your goal is to be 100% efficient and copy your backtesting to a T. Trust me, it will happen, you will miss trades due to complacency when you haven't made a trade in over a week and you're a little rusty. So again in conclusion to the buying power metric, adjust accordingly. + +4) Risk of Ruin. Is it under 1%? + +This is all discretionary. Me personally I want my RoR to be south of 0.25% but I've read many places that 1% is good. Probably just people repeating what everyone else says but that's just my opinion. How do you calculate it? There's a bunch of ways. [There](https://www.myfxbook.com/forex-calculators/risk-of-ruin-calculator) are a bunch of [different websites](https://2ndskiesforex.com/risk-of-ruin-calculator/) that do a pretty good job that tell it all for you. But if you want it for your spreadsheets so you can visualize it and see how it matures over time: + +[RoR formula.](https://imgur.com/a/95P9gy7) + +So there it is! In conclusion. You take how much you need. Find your EV, see how many trades on average you get per day, week, month, quarter, etc., then see what's stopping you then assume that calculated risk by seeing what the odds of you failing are. That's the meat of it at least. There are a bunch others such as: + +•**Can you take that many trades and not miss any?** (It isn't smart to be firing off 30 trades a day. I know there are those who do it but like I've written before.. decision fatigue gets real. There's also a bunch of different ways to trade so I digress. Billions of dollars are exchanged between hands on NVDA on a daily basis. I might see 1 small edge on a 1' chart on 1 day out of the last 21 trading day month. Everyone sees fit trades all over the charts) + +•**Do you have an SOP for how you'll identify and enter your trades based on statistics?** For example I only allow for 10% of my R to be slipped on the entry because on average I get slipped on my stop outs 0.07R. So a losing trade could lose me 1.17R meanwhile the profiting trades achieve 1.9-1.99R depending on how bad I was filled according to my order tickets parameters. + +Take what info you got from your research and just pull the trigger. The market is liquid. A $50,000 position shouldn't faze you if you sized your position accordingly and set your StopLoss. Trading is a business. Take the leap if you're considering it. Just remember all the things you forfeit being independent from the normal job life. The market isn't going anywhere so you do have time and the time will never feel right. + +2) Psychology - ( 2 paragraphs is really all it is) + +Although I can summarize that subject in 4-5 sentences: "Read a few trading books. Put the ideas on a spreadsheet and see the results. Now trust it, write a business plan, follow it, and trade it live if you like the backtest results." How much psychology does one need when: + +1. Price is Up or Down +2. P/L is Green or Red +3. Result is Profit or Loss +4. A ticker is Showing Edge or No Edge +5. It's Heads or Tails. + +**But here's the answer to your psychology of trading questions... You are crippling yourself when you trade money you CANNOT AFFORD to lose.** You're uncomfortable risking money you can't afford to lose and now want some tumblr quote to help you sleep better at night. We all become Steve Cohen/Paul Tudor Jones when it says, "Simulated Paper Trading" or when the screen has an orange trim around the perimeter. Trade live when you're risking money you couldn't care less about... Because that's how it should be.... *But make sure you can respect it at the same time <- That's an important one (srs). Anybody can hit dingers in a batting cage, shoot 3's at an LA Fitness, or hit their 5iron 200+ yards at a driving range.. but when it becomes real, people fold.* Done with that subject but I'm sure in 48 hours there will be a psychology post. If you want to improve this subreddit, just reply to those questions, "Trade with money you can afford to lose and not lose sleep over". + +**All done. So I'll leave it with this:** + +Think of my timeline from my first day as a full time trader. September 2019. + +•That drawdown I had just 1 month in. No more cushion 9-5 income, no benefits, and the drawdowns happen. Just have a safety net and a StopLoss to start looking for a job if your account/savings go below a predetermined number. + +•When you've got politicians proposing a 0.2% Financial Transaction Tax on all stock trades. Doesn't sound like much to the average Joe but it would have destroyed any trading business. [Take this trade](https://twitter.com/CJT2013/status/1339254005223071746) for example if that FTT was put into effect: + +**DISH** \- $33.30/share by 800 shares = $26,500 trade IN and \~$26,500 OUT | $53,000 moved. + +**TDOC** \- $186.00/share by 158 shares = $30,000 trade IN and \~$30,000 OUT | $60,000 moved. + +**SQ** \- $223.25/share by 220 shares = $49,000 trade IN and \~$49,000 OUT | $98,000 moved. + +That was a net slippage day meaning I hit break even losing 2R on 2 trades and gained 2R on 1 trade.. 0R but slippage caused me to lose roughly $100.. Now add that FTT... $211,000 \* 0.002 = $422 with a 0.2% FTT. Politicians would have ended this business for me and I love what trading life has afforded me.. time. + +•When March 2020 happened and the world shut down (Which put me in a position to start this thread). I couldn't train in a gym anymore for extra cash. There goes a source of income for me. I learned fast needless to say. You never know what's going to happen tomorrow. Me personally I leave it to God because it's in His hands. That's what helps take off the edge for me so whatever works for you, let it do its thing. There's lots of uncertainty in this business (as with any business) so either take the leap or not, just do it right. Following a written plan and honoring it day after day feels like a marathon but you learn to trust it. + +Until March 2022! *(I've got some more time in this business for me.)* + +\-CJT2013 +Thanks very much for this sub... I've lurked and learned so much from you folks. + +&#x200B; + +Age 53. $502k in 401k, $502k in other investments, $45k living expenses. $21k a year pension and health care when I turn 60 from the Air Force. Didn't count social security. House is paid for, no loans, spouse, or kids. + +&#x200B; + +[https://firecalc.com/index.php?wdamt=45000&PortValue=1040000&term=42&ss1=0&ssy1=2032&ss2=0&ssy2=2034&signwd1=-&chwd1=21000&chyr1=2026&wd1infl=adj&signwd2=%2B&chwd2=0&chyr2=2024&wd2infl=adj&signwd3=%2B&chwd3=0&chyr3=2028&wd3infl=adj&holdyears=2019&preadd=0&inflpick=4&override\_inflation\_rate=3.0&SpendingModel=constant&age=48&pctlastyear=0&infltype=PPI&fixedinc=Commercial+Paper&user\_bonds=4.0&InvExp=0.18&monte=history&StartYr=1871&fixedchoice=LongInterest&pctEquity=75&mix1=10&mix2=10&mix3=10&mix4=40&mix5=40&mix6=10&mix7=15&mix8=5&user\_inflation=3.0&monte\_growth=10&monte\_sd=10&monte\_inflation=3.00&signlump1=%2B&cashin1=0&cashyr1=2022&signlump2=%2B&cashin2=0&cashyr2=2032&signlump3=%2B&cashin3=0&cashyr3=2037&process=survival&showyear=1960&delay=10&goal=95&portfloor=0&callprocess=Submit&FIRECalcVersion=3.0&](https://firecalc.com/index.php?wdamt=45000&PortValue=1040000&term=42&ss1=0&ssy1=2032&ss2=0&ssy2=2034&signwd1=-&chwd1=21000&chyr1=2026&wd1infl=adj&signwd2=%2B&chwd2=0&chyr2=2024&wd2infl=adj&signwd3=%2B&chwd3=0&chyr3=2028&wd3infl=adj&holdyears=2019&preadd=0&inflpick=4&override_inflation_rate=3.0&SpendingModel=constant&age=48&pctlastyear=0&infltype=PPI&fixedinc=Commercial+Paper&user_bonds=4.0&InvExp=0.18&monte=history&StartYr=1871&fixedchoice=LongInterest&pctEquity=75&mix1=10&mix2=10&mix3=10&mix4=40&mix5=40&mix6=10&mix7=15&mix8=5&user_inflation=3.0&monte_growth=10&monte_sd=10&monte_inflation=3.00&signlump1=%2B&cashin1=0&cashyr1=2022&signlump2=%2B&cashin2=0&cashyr2=2032&signlump3=%2B&cashin3=0&cashyr3=2037&process=survival&showyear=1960&delay=10&goal=95&portfloor=0&callprocess=Submit&FIRECalcVersion=3.0&) + +&#x200B; + +Started work at eleven with paper routes. Worked all my adult life in the Air National Guard and/or as a civilian software engineer. Squandered some but saved a lot. Hated my civilian job for the last five years. + +&#x200B; + +My project's contract got delayed. The cheap people could hide on other projects. The expensive people (though not the managers, of course) had to take vacation. Over a month vacation gave me the time to calculate what I need, if I can afford it, and if I wont go crazy. Turns out all the calculators said I should be fine. And I didn't go crazy. + +&#x200B; + +So here I am. Signed up for my own health care for the first time in my life. Doing more of all the things I missed... running, walking, exercise, reading, cooking, sleeping, yoga, juggling, and fluting. Waiting for summer to do more hammock lounging, juggling, and unicycle. I may look to a part time job but I doubt I'll get bored. + +&#x200B; + +Take care everyone! + +\----Joe + +For those that are familiar with some of my previous posts, I’ve provided 2 picks to date – CTS.V and PFM.V. I did them on CDN investor subreddit but they sure as hell fit here too. So far, both have done extraordinarily well, particularly the former, so hopefully some people here have made money. I wrote my post on CTS at $1.30 (now $5.60) and PFM at ~0.70 (now $1.35 as of yesterdays close). To be fair, this market is bananas right now so who knows how much of this is attributable to luck vs. skill. + +My next play – MediaValet (TSXV:MVP). I think there is an insane amount of upside given the company’s growth rate, the momentum behind the name, and the management team behind it. + +So MVP – what they do and why it has nothing to do with my boy Aaron Rodgers. These guys are in the Digital Asset Management (DAM) sector. You’re DAM right I’m going to use that abbreviation the rest of the DAM way. They are one of the only cloud-based solutions having been entirely built on Microsoft Azure. + +So what is DAM? Basically, it is a tool for aggregative, organizing, indexing and managing digital asset files. This is especially important for marketing and creative teams. Think pictures, videos, social media, documents, etc. This can also include green screen footage, test footage, different variations of marketing campaigns and a host of other digital assets. + +So why is this different and/or important? Well for you and I, we can use Dropbox, store them locally on our computer or use an external hard drive. + +But what happens when you are a massive sports organization, a tv/movie studio, a university or any other large enterprise with just terrabytes of data? Dropbox ain’t gonna cut it. Think about how many data assets exist for these companies. And Dropbox won't work not because of the file size - but because there is no real organization tools to quickly pull files, keep track of everything while also allowing collaboration. When it requires multiple people working on it or people need immediate access you need a fast and flexible solution.. + +Having ownership over files is critical for marketing teams and managing this an enormous business. $7B over the next 4 years business. DAM has been around forever with companies like Adobe offering on-premise solutions but they are clunky and outdated. Hence why MVPs cloud back-end is important. And they are still small enough that they can be nimble with their technology and adapt as needed – hence their recent foray into offering a solution for creative teams called Creative Spaces. Old systems like Adobe's don't cut it in todays day in age as there are more files now than ever. Everything needs to be cloud based to manage both the sheer volume of data and also the fact that people are now working remotely around the globe. These guys also incorporate artificial intelligence so that clients can quickly identify something just by searching “phone” for example. + +**Financials** + +Let’s talk a little bit about the financials. If you recall some of my last posts, I am big on Annual Recurring Revenue (ARR) as a key metric for SaaS businesses so that’ll still apply here. + +As of Q3’20, these guys reported $7.9m CDN of ARR translating in $5.3m in recognized revenue. That is 37% YoY growth in ARR even in this COVID environment. That’s just absolutely wild. And as more and more teams shift to working away from the office, and I suspect marketing teams are one of those non-essential groups for being in the office, a cloud DAM like MVP will be critical. + +In 2019 they reported ARR growth of 85%. That’s nuts and probably justifies some of the high multiples we are seeing in this name. And they have announced several contracts over the course of this year so I suspect things are moving along quite nicely. In a recent presentation I saw with team at MVP, they noted that much of the business they had in the pipeline when COVID hit in March is now coming to fruition – no terms of the deals have changed but rather just start dates. Makes sense given everything that has happened the last 12 months. + +**Valuation** + +Now let’s look at some Valuation. Again, this is frothy but I don’t suspect it to be alarming. Assuming a price of $2.94: + +EV/ARR 2020 – 12.3x +EV/LTM Rev – 14x + +Both of these are for current numbers. Analysts having them continuing to growth between 40-45% annually in revenue which should translate to about 50%+ in ARR growth. + +So for the sake of argument, I’m going to go with a $9m FY2020 ARR exit rate and then $14m in 2021. As for a multiple – when I look down south I’m seeing true SaaS companies trading at 20x + 2021 revenue estimates with half the growth. But hey, let’s be true to our Canadian ways and be conservative. So I’ll apply a 15x ’21 EV/ARR multiple. + +Target gives me a share price around just north of $5 but let’s round down. Call it $5. + +Analyst targets range from $3.00-$3.50. But if you know anything about sell-side research, these jackasses are full of shit. Just go look at Tesla or a host of other CDN names that blew by analyst estimates and see what these dorks come up with in the name of selling a financing. + +**Who’s behind this company?** + +For starters, Rob Chase one of the original team members at Absolute Software. Many of you are probably too young to remember this name, but this was a wildly successful Canadian tech story and proved that we had more than rocks and holes in the ground to sell out of this country. + +In Sept 2019, Francis Shen joined the BoD and made a substantial investment. Another guy who built a tech company in Canada (Aastra, for the uninitiated). All in all, management owns 31% with estimated institutional ownership at 41%. So that leaves a pretty dang small float – when this thing gets some eyeballs it will run like crazy. + +So the management here is really strong and have built and exited deals before. + +Still reading? + +Damn. You probably missed out on another 15% in TSLA. But in all seriousness, I really like this name. I think these guys will continue to perform in FY21 and this is a prime takeout candidate one day. Those on-prem companies I mentioned earlier? Wouldn’t it be cool if they had a sexy new Vancouver tech company to play with and pitch to all of their clients. + +So those are my thoughts. **I think this is fairly a $5 stock.** + +Hope this is another winner. Full disclosure, I am in invested in this company at $2.39 with 2,600 shares owned and this is not financial advice. +Welcome to the Daily General Discussion thread of /r/EthTrader. + +Find the latest Daily Altcoin Discussion thread by selecting the top result on this [search page](https://www.reddit.com/r/ethtrader/search?q=Daily+Altcoin+Discussion&include_over_18=on&restrict_sr=on&t=all&sort=new). + +*** + +The thread guidelines are as follows: + +- Please refrain from discussing non-Ethereum related tokens here. You are welcome to discuss altcoins in the Daily Altcoin Discussion thread. +- All sub rules apply here so please review our **[rules page](https://www.reddit.com/r/ethtrader/about/rules/)** to become familiar with them. The rules page is also linked in the announcement bar above. +- If the top page becomes overloaded with memes, all but the top two voted may be removed. If we need to remove a bunch of memes from the top page, post memes in this thread first and upvote the best so the mods know which ones to keep + +*** + + Resources and other information: + +* Newcomers who have basic questions about Ethereum can find answers by visiting /r/EthereumNoobies or our Ethereum Education wiki page, [see here](https://www.reddit.com/r/ethtrader/wiki/education). + +* To view live streaming comments for this thread, [click here](https://reddit-stream.com/comments/auto). Account permissions are required to post comments through Reddit-Stream.com. + +*** + +Enjoy! + +**Quick Background:** Last week I made a post about how I believed Citadel was creating billions of dollars in margin using SPACs. After reading all the counter-dd I believe my original thesis was wrong and it in fact runs far deeper than I expected. Citadel may have found an infinite short glitch (see Part 3). + +&#x200B; + +# Part 1 - The Correction + +&#x200B; + +In that previous post I stated that Citadel was buying Founder Shares in SPACs for pennies and then using the stock conversion to value them up to x4000 what they originally paid. The two pieces of evidence I used to back this up were that Citadel bought the stock before it was publicly available (from the 13G) and that these founder shares showed up on their asset reporting (from the 13F). + +&#x200B; + +Neither of these are true. While it is true the Class A common stock didn’t start trading until after Citadel bought shares, the SPAC units were released earlier and publicly available. Likewise, this is what was on the 13F. Not stock, but units. As a reminder, a unit is a Class A stock plus a fraction of a warrant. + +&#x200B; + +So Citadel doesn’t own Founder Shares? Definitely not directly. As u/justbeingpunny pointed out in his counter-dd, the SPAC Sponsor owns >95% of these shares. The rest are given out to the company directors. The next logical question is who owns the sponsor? + +&#x200B; + +The short answer is who the fuck knows. + +&#x200B; + +The long answer is who the fuck knows, but… + +SEC filings say the Far Peak Acquisition Founder Shares are owned by the Sponsor, Far Peak LLC, which is managed by a third company, Far Peak Holdings LLC, which is managed by the original SPAC founder Thomas Farley. Bro what? + +&#x200B; + +It’s extremely convoluted, but I think this can all be chalked up to shielding liability and using Cayman Island companies to avoid taxes. Sketchy, but not what we're here for. Without evidence I can’t say that Citadel owns a part of the Sponsor or it’s managing company. + +&#x200B; + +So that’s that. I can’t see any other way Citadel would be able to use the Founder Shares as collateral for margin. Let me say it one more time for absolute clarity: I am no longer confident Citadel is creating asset value through the ownership of SPAC Founder Shares. + +&#x200B; + +# Part 2 - The Counter-Counter-DD + +&#x200B; + +But something still feels wrong. Citadel’s sudden interest in buying SPACs right before the GME mini-squeeze is too coincidental to ignore. I also straight up don’t believe they are buying SPACs as a pure investment. Why? Because SPACs are trash. Out of the 197 SPACs that completed acquisitions in 2021, 175 (89%) are currently trading below the initial IPO price. These aren’t small loses either. Of all the 197 SPACs, the current stock price is, on average, -38% below the original IPO price. + +&#x200B; + +*Quick SPAC context: SPACs raise money by selling shares and then use that money to buy treasury bonds which they hold in a trust account while they look for someone to acquire. If the company fails, or if it completes a successful acquisition, that bonds are liquidated and the money is returned to the share holders.* + +&#x200B; + +u/justbeingpunny has hypothesized that Citadel is using SPACs as repo collateral since all of the money they raise is invested into government bonds. To quickly summarize his DD from last April: + +&#x200B; + +Citadel needs cash so they go and borrow a bond from the bank. They sell that borrowed bond to a third party for cash with the promise they will buy it back in the future (a repurchase agreement). Citadel takes that money and goes about their business (probably shorting orphanage stock or something). Time passes and the bank hasn’t seen its bond in a while, so it asks Citadel about it. Citadel goes to the company they sold it to. “Oh our bad, we actually lent that security out to be shorted. Also please don’t buy it back in the market because that will blow up our position”. + +&#x200B; + +What is poor Citadel to do? They could go back to the bank and borrow another bond to cover the first one. Except now that the bank has already lent out the first bond, the second will come at a premium because the supply of bonds has gone down. In other words the bond is now hard to borrow. + +&#x200B; + +Instead Citadel goes back to the bank and says we don’t have the bond you lent us but we do have something just as good. Look at these SPAC shares which are basically the same thing since all their money is in bonds! + +&#x200B; + +If you believe u/atobitt's "The Everything Short", which I do, this makes sense. It’s a valid theory and could definitely explain all the SPAC purchasing. But I’m just not buying it. + +&#x200B; + +If you’re short on bonds the last thing you want is a shell company raising hundreds of millions of dollars to go out and buy more bonds. There is also the question of whether these SPACs are even being accepted as collateral and at what cost. Some companies will only accepting certain S&P 500 stocks. The DTCC will take any US equities as collateral but with a fat 25% haircut (i.e. you only get 75% cash back on the value of the asset). At that point you’re better off borrowing Singapore government bonds and using those instead. That’s not a joke. + +&#x200B; + +Finally, if the DTCC and other companies are accepting SPACs as equal to their underlying bonds, why not just borrow an existing Bond ETF like $SCHO. You wouldn’t have to deal with the volatility and dilution of SPACs, plus the borrow rate is lower. + +&#x200B; + +When we put it all together I just can’t see the case for using SPAC shares as collateral. + +&#x200B; + +# Part 3 - The Infinite Short + +&#x200B; + +So here we are again. Lonely (unrelated) and confused about why Citadel is buying SPACs. If I have learned one thing from reading GameStop DD and SEC filings for the past month it’s that when in doubt, assume Citadel is short. + +&#x200B; + +*DISCLAIMER: Due to the nature of short selling nothing you’re about to read can not be proven and is purely speculation.* + +&#x200B; + +I’m not the first one to come to this conclusion. u/justbeingpunny made the same assertion in their above mentioned post but I initially ignored it for a couple reasons. + +&#x200B; + +1. The logic that they used to get to the short theory is flawed. The post says Citadel is using SPAC shares as bond-equivalent collateral. The lender, who now holds the stocks, needs to ensure that these stocks are redeemable, so they short the SPAC with the stock they just received in the hopes that the SPAC fails and liquidates. +The error here is that these shares are redeemable whether the SPAC is successful or not. After an acquisition, share holders have the option to convert their stock into the new company stock or redeem them for a portion of the trust. Even if the lender did only gets their money back when the company fails, driving down the stock price wouldn’t have any impact on the SPACs ability to merge. Their funding was locked in months before they ever went public by the underwriter. +The underwriter is the company (usually Goldman or Credit Suisse) who purchased all of the SPACs original shares and is the one who sells them publicly. They buy every share at $10 with the hope that they can sell them at a profit. Underwriters becomes important in a second. I swear this is going somewhere. + +2. Shorting SPACs just seems like a really bad idea. Even if you drove the stock price down from $10 to $1, there is still $10 per share worth of treasury bonds sitting in the company that will eventually be redeemable. The only way these shares actually decrease in value is if the underlying treasury bonds decrease in value. Shorting a SPAC is essentially like shorting the bond market.. + +&#x200B; + +And who in their right mind is stupid enough to short the US Treasury bond market? I’ll give you 3 guesses. + +&#x200B; + +Here is the really crazy part. It’s actually working. + +&#x200B; + +[Far Peak Prospectus](https://preview.redd.it/027p01fz73j81.png?width=1396&format=png&auto=webp&s=f60abb9d69821c249fb30e03acb081820b2bd08e) + +&#x200B; + +Obviously this is peanuts in the grand scheme of things. But when you add in dilution, founder shares, admin expenses and everything else, that $10 redemption value looks a lot closer to $9 or less. Then multiply it by the 100s of SPACs Citadel is short on. + +&#x200B; + +So here’s the theory. Citadel borrows SPAC shares and sells them to retail for $10 a share. Over time the value decreases because the underlying securities depreciate. When the SPAC merges (or fails), Citadel pays out the now $9.00 per share redemption price and pockets the rest. + +&#x200B; + +Did you catch that? They don’t close their short position by purchasing the stock on the market and returning it. They can just pay out the redemption value like the SPAC would have. A redemption value that is below what the holder originally paid Citadel for the stock. + +&#x200B; + +The wrinkle brains see where this is going. K…Ken… where are your clothes? + +&#x200B; + +If you can cover your short with cash there is no need to locate a share before you short it. And if you don’t need to locate before you short, there is no limit on how many shares you can sell. The only thing holding Citadel back from shorting an infinite float is that eventually the stock price will fall below $9.00 and the short will no longer be profitable. Every share they sell short will chip away at the price and make the next short a little less profitable. So there has got to be a limit, right? + +&#x200B; + +Right? + +&#x200B; + +Wrong. + +&#x200B; + +Let me introduce you to page 167 of Far Peak Acquisition’s Prospectus. + +&#x200B; + +>"In connection with this offering, the underwriters \[I told you this was important\] may engage in stabilizing transactions, over-allotment transactions, syndicate covering transactions and penalty bids…" + +&#x200B; + +>“Over-allotment involves sales by the underwriters of units in excess of the number of units the underwriters are obligated to purchase, which creates a syndicate short position. The short position may be either a covered short position or a naked short position.” + +&#x200B; + +To translate for the smooth brains: the underwriter is given the permission to covered or naked short the SPAC so that they can keep the market price at $10. If they sell more shares than the company originally sold them, it’s no biggy. They have an “over-allotment option contract” that forces the SPAC to create more shares and sell them to the underwriter. Citadel can sell shares at $10 all day long and not worry about the price dropping. + +&#x200B; + +# Part 4 - Let’s Play a Game + +&#x200B; + +I’m almost done, but I want to leave you with a game. Who doesn’t love games? Here is how it works. I’m going to give you Citadel holdings information on a stock and you tell me if they are long or short. They own… + +&#x200B; + +* 800,000 Common Shares +* 615,000 Call Options +* 300,000 Put Options + +&#x200B; + +Ok go. Long or short? + +&#x200B; + +I mean it’s a bunch of stock with a call heavy option ratio. Long, right? Wrong again, idiot. This is Citadel’s GameStop holdings from 2018-12-31. I believe the calls are to hedge the short position, the stock is what they have borrowed but not shorted yet, and the puts are just puts. + +&#x200B; + +Alright next up. Citadel owns… + +&#x200B; + +* 2,400,000 Common Shares +* 490,000 Call Options +* 90,000 Put Options + +&#x200B; + +If you see a pattern you’re not the only one. A bunch of stock and call heavy options. This is Citadel’s Far Peak Acquisition holdings from 2021-12-31. A couple of months ago. + +&#x200B; + +**tl;dr: I made a post last week that has since been proven wrong. While reading to correct my original post I came across what looks like an infinite short selling glitch. With a little help from their friends, Citadel can create massive naked short positions without the need to locate or buy back the stock.** + +&#x200B; + +I am not a financial advisor and this is not financial advice. I'm just a guy who likes a stock. As always I would love to see some counter-dd. That's what this community is all about! + +&#x200B; + +Nose cones up, baby! + +&#x200B; + +🚀 +Hi, + +First home buyer in VIC. + +I like this property and I am about to make an offer. However, Agent asked me over the phone about my offer, I told him verbally and he responded as the following: + +>I have multiple offers made. I am speaking to you like a brother, if you like the property give me your max offer and do not waste time + +Should I listen to him? I hear it is a seller market now, so he might be telling the truth? I like the property and I truly think my offer is a very reasonable price for it. Any amount that is more I think will make the property overpriced. +I have been approached and offered a job that not only offers a 30% pay rise but also a huge benefit for my career. I have a lot of respect for my current employer and I like my team but this is a rare opportunity and I feel like I need to take it. What is the best way to resign in a way that I hurt people's feelings the least? + Pigovian taxation essentially passes on the cost of negative externalities to the producer. Obviously, the taxation of negative externalities is easier said than done, but even though it is difficult to implement, it should be attempted. Passing on the burden of negative externalities through taxation would enable the [government to increase its tax revenue while lowering the demand for socially harmful products.](https://www.economicshelp.org/blog/glossary/pigovian-tax/) Companies would therefore taxed in proportion to the quantity and effects of their goods or services on society as a whole. Businesses that provide good or services that favor the national interest would conversely receive lower overall tax rates, acting as a form of Pigovian subsidy. + +&#x200B; + +It seems like this type of taxation would be very useful regarding large, civilization level problems like climate change, wealth inequality, and rising obesity levels. Are there any good arguments against Pigovian taxes other than them being impossible to implement politically? +Your markets are run by bots. Now your /r/Asx_bets daily threads are too. + +Read the [wiki](https://www.reddit.com/r/asx_bets/wiki/index/) people[.](https://styles.redditmedia.com/t5_2hqqj5/styles/communityIcon_41pmnaqp4zn41.png?width=256&s=59bf38425fb316fdcba30365b272a5f19352f370) + +[Posts relating to the "Is /r/ASX\_bets about finance or effect your mental health?" etc will lead to a ban of the mods chosing. You have been warned.](https://www.reddit.com/r/ASX_Bets/comments/l0l9et/the_does_asx_bets_effect_your_finances_emotions/?utm_medium=android_app&utm_source=share) + +Automoderator may provide "Guidance" for Lazy and zero effort posting. + +[We have an active official/unofficial discord. It's open to all discussions, stonks related and non-stonks related.](https://discord.gg/ywAGqfUAQE) +Your markets are run by bots. Now your daily threads are too. + +&#x200B; + +This thread is for plans and thoughts prior to the market open period. + +Maybe use this time to read the [wiki](https://www.reddit.com/r/asx_bets/wiki/index/) [.](https://styles.redditmedia.com/t5_2hqqj5/styles/communityIcon_41pmnaqp4zn41.png?width=256&s=59bf38425fb316fdcba30365b272a5f19352f370) + +&#x200B; + +Posts relating to the "Is /r/ASX_bets about finance or effect your mental health?" etc will lead to a ban of the mods chosing. [You have been warned](https://www.reddit.com/r/ASX_Bets/comments/l0l9et/the_does_asx_bets_effect_your_finances_emotions/?utm_medium=android_app&utm_source=share). + +&#x200B; + +[We have an active official/unofficial discord. It's open to all discussions, stonks related and non-stonks related](https://discord.gg/wsNDGTf5QH). +Your markets are run by bots. Now your daily threads are too. + +&#x200B; + +This thread is for plans and thoughts prior to the market open period. + +Maybe use this time to read the [wiki](https://www.reddit.com/r/asx_bets/wiki/index/) [.](https://styles.redditmedia.com/t5_2hqqj5/styles/communityIcon_41pmnaqp4zn41.png?width=256&s=59bf38425fb316fdcba30365b272a5f19352f370) + +&#x200B; + +Posts relating to the "Is /r/ASX_bets about finance or effect your mental health?" etc will lead to a ban of the mods chosing. [You have been warned](https://www.reddit.com/r/ASX_Bets/comments/l0l9et/the_does_asx_bets_effect_your_finances_emotions/?utm_medium=android_app&utm_source=share). + +&#x200B; + +[We have an active official/unofficial discord. It's open to all discussions, stonks related and non-stonks related](https://discord.gg/ywAGqfUAQE). +I'm going to start this with the caveat that this is a throwaway account, and that these are MASSIVELY first world problems. But this fatFIRE and I think they need to be discussed. + +I would estimate that at the high end (farFIRE+) territory, inflation is running at 20-30% a year. I've found (at 5m/y income + 30m NW) that my real buying power has decreased massively in the last 12 to 24 months for the things that I actually want to be purchasing / consuming. + +For example: high end hotel rates are up 50-100% (look at a weekend rate at something like the Four Seasons Surf Club in Miami, or Amanyara in Turks, Belmond Anguilla etc); dining prices at top restaurants are up 30-40%; higher end wine is up 50-100%; private aviation is up 100% (and in many cases inaccessible as the fractional providers are off-loading their merely fat clients in favor of whales); vacation homes values in top areas (Hamptons, Palm Beach, Aspen) have doubled or tripled, and rents are off the chart; both blue chip and 'hot emerging' art prices have skyrocketed; luxury cars are trading well over sticker; boats, dock space are nearly impossible to find in hot areas like NY area / Miami....etc etc etc + +This raises the question of what are people in this group doing to protect their real buying power? + +Personally- I am thinking that I have to re-allocate more of my portfolio to securing access to things I'm going to want in the future. For example - having a higher percent of NW tied up in second home real estate is probably OK for me given that's an asset I want, and one that until two years ago I would have planned to finance thru broader market appreciation. Similarly, I think one has to purchase and hold what would otherwise historically have been thought of as non-productive lifestyle assets: if you think you want to own a boat, buy the slip now; if you are a wine person, but on release and store. And, I think there is a very good argument to be made for investing in income producing inflation linked businesses in the areas you are going to be 'short' - eg invest in high end hotel / RE projects if you're a frequent consumer; if you can swing being an equity owner in operating businesses that are in areas you may use (like charter for example) that could be another way to hedge. + +What do others think? Any great ideas? Am I nuts? +If you could boil it down to just a handful of things, what would be your must-haves regarding what you would require of your tenants and the lease agreement? + +For example, tenants must make 3x the monthly income. Or perhaps a 1 year min/max lease agreement requirement initially. +Basically what the title says. + +Once upon a time, I had a BA in a social science field that was getting me nothing but low-paid jobs, and I would have needed to go to grad school to ever have a real chance of landing a salaried position. I paid my own way through college and was not willing to take on additional debt for a graduate degree in an already very competitive (and low-paying) field. I wanted to go in a different direction. + +I had worked part-time at a law firm during college, and I decided working in a support position (i.e. paralegal/legal assistant) was something I was very interested in. I applied for positions at every law firm in my general area and received nothing but rejection and one invitation to intern for free. No thanks, I had bills to pay. + +The military had always been something I'd considered and I did a lot of research on the different branches and what they offered. Turns out the Army offers an enlisted position that was exactly what I was looking for--Paralegal Specialist, and since I had a degree I would enter the military as an E-4. The Army also guarantees that the specific job you select is written into your contract. + +It's now a little over four years since I raised my right hand-- I now work for the Department of Justice. My military service counts towards my federal retirement and also put me in a higher leave bracket. The high-ranking connections I made in the Army JAG Corps combined with the job experience I received are what landed me this position. I have thousands of dollars in the bank that I saved because I didn't need to pay for housing, food, or health insurance while I served. I'll be able to use a VA-backed loan to buy a house when I choose to, and if I want to go back to school I can do so for free using the GI Bill. + +I write all this because I read this sub regularly and there are so many posts by people who don't make a living wage, or majored in something unmarketable (like me) and don't know what the next step should be, or who have student loan debt, or are just kind of lost in life. And I think military service could benefit a lot of those people. + +Of course this comes with a large caveat: the military comes with risks. You could deploy, you could be in combat, you could die, you could be involved in a freak training accident, etc. You could also get stuck in a terrible unit with toxic leadership. It's all luck of the draw really. I was incredibly fortunate in having a positive experience but I know many aren't so fortunate. It's the ultimate 'your experience may vary' scenario. + +But at least for me it was a great way to kickstart my career in the direction I wanted to go and set myself up financially. I just wanted to share my experience in case it helps anyone who may be considering the service. +Facebook reported earnings after the bell. Here are the results. + +Earnings per share: **$3.67 vs $3.84 expected**, according to a Refinitiv survey of analysts + +Revenue: $33.67 billion vs $33.4 billion expected, according to Refinitiv + +Daily Active Users (DAUs): **1.93B** vs. 1.95 billion expected by analysts, according to StreetAccount + +More here: https://www.cnbc.com/2022/02/02/facebook-parent-meta-fb-q4-2021-earnings.html +$KODI is the next generation of BNB auto-redistribution tokens. Not only will $KODI provide its holders the luxury of earning passive income (BNB) by simply holding KODIAK tokens, they’re bringing the first ever Entertainment Hub to the BSC network! + +🎙 **Entertainment Hub** + +The BETA launch will include a 24/7 Radio which will be bringing you everything entertainment such as podcasts, music, and much more! This will provide an eventual revenue stream that will directly benefit $KODI holders down the road. + +##Tokenomics Breakdown + +💰 **Max supply**: 100 billion + +💠 **Tax Fee**: 13% + +♻️ **BNB Redistribution**: 7% of all transactions have BNB auto-redistributed to $KODI holders. Auto-claimed every 60 minutes + +🔐 **LP Allocation**: 3% of all transactions go to liquidity pool + +💎 **Sell Fee**: 3% extra to all sells with 2% to the BNB dividend pool and 1% to LP + +🐳 **Anti whale/dump lock**: Sells are restricted to less than 0.1% of the total supply + +📱 **Marketing and Development**: 3% tax goes to a separate marketing BNB pool. A marketing wallet with 5% of the total supply will also collect BNB. + +🕹 **Sweep Widget**: the SweepWidget tool will be used to hold contests to give all TG members a fair chance at earning a spot on the presale. + + +##Token Launch + +📟 **DXSale Presale** 📟 + +**Details**: + +Thursday August 12th, 2021: 16:00 EST + +🔰 **Soft cap**: 300 BNB + +🔰 **Hard cap**: 450 BNB + +KODIAK is going to launch on DXSale Network using their new whitelist feature to help minimize the use of bots. This will help more dedicated members get into the presale and further ensure the projects success! + +KODIAK token is a place where all crypto enthusiasts bear-long! + +🔥 Come join the TG for your chance to earn a spot on the whitelisted presale! SweepWidget will be used for competitions to give all members a fair chance at earning their spot! Launches August 13th, 2021! + + +——-Additional Links———- + +🌐 **Website**: https://kodiaktoken.com + +📬 **Telegram**: https://t.me/kodiaktoken + +🐦 **Twitter**: https://twitter.com/KodiakToken?s=20 + +📸 **Instagram**: https://instagram.com/kodiaktoken?utm_medium=copy_link +But it was some of the things I expected it to be. + +This is my first post here, though I’ve been commenting on this sub for a while now, and I lurked long before that. I want to share my story because I think it will resonate with many people here, and maybe it will help some people. It probably will most closely resonate with people of a similar background: tech workers who are feeling jaded after working at a large tech company for a few years. However, I think it could be relatable for anyone considering leaving a comfortable but unfulfilling job, in search for something more meaningful. This post is not going to cover many specifics about financials or financial advice, but a FI mindset strongly influenced my decision-making. It’s a common topic of this sub to experience a longing for more fulfilling work, especially once you have FU money or are approaching coastFI, and having made the leap about 9 months ago I think I have some insight about how things can turn out if you choose to take a leap of faith. + +I also fully acknowledge that many on this sub don’t experience a need for more fulfilling work; several of you find other means of fulfillment and just want to FIRE ASAP, period, and that is totally fine, but this post may be less relevant to you. + +#Background + +I joined a FAANG as a software dev after graduating college. I was fortunate to graduate with less than 10k in debt, and I paid it off quickly. I performed well and was promoted after about two years. As my NW increased, it felt like blinders were slowly being removed from my eyes. Like many people on here, I had a lot of anxiety about financial security growing up - so much so that getting a high paying job was virtually all I thought about since I was in high school. As my NW hit 100k, I started to feel somewhat secure about money and my employability; I took a step back and started to realize that I was never going to feel fulfilled by the work I was doing (which involved working on an interesting but not very impactful smartphone feature). Without as much financial anxiety, I was able to give myself space to reflect and understand what my real goals were - something I had neglected for a long time. + +I tried to make it work on my old team. I thought that if I found the right kind of role or peer group, I could tolerate not feeling like my work was that important. But I knew deep down that wouldn’t be the case. + +I also looked for opportunities on other teams. I think this could have worked out. I found one opening that seemed like it would be a work style I liked better (TSE rather than SWE), and in an area that felt more impactful (healthcare). + +But I ended up finding an opportunity elsewhere that was more risky but seemed potentially more rewarding for me. + +#Reflections and the next opportunity + +In my reflections, I realized I really regretted not taking more humanities and social science classes in college. I barrelled through the CS curriculum with tunnel vision, intent only on getting a job at a FAANG or similar. I had always wanted to study psychology, but, coming from a family of engineers, voices in my head always told me that wasn’t a “real” field. + +Additionally, I started to feel a growing need to do work that was impactful and helped people. I think anyone might feel this longing, but I think those from marginalized communities such as myself might be especially likely to feel this need to give back. As my confidence in my abilities and skills grew, it started to feel ridiculous that I wasn’t using them for social good. + +I began searching for career paths that would scratch my itch to learn about more social science fields, and that would be impactful in ways I found fulfilling. I still wanted to work in something at least partially technical, since I wanted to make use of my skill set. I eventually found a not-for-profit research center nearby that focused on applying computational methods to complex social problems, varying from sex trafficking to religious extremism. I reached out to the organization, and ended up meeting some staff to discuss the field and what I might do to get involved. I was hoping for some PhD program recommendations, which they gave (for anyone wondering, they recommended I apply to CS or Engineering programs, and specialize in something like computational social science). But it also turned out that they had a grant that was getting dispersed in the next month, and someone with my background would be appropriate for one of the roles in that project. + +At that time, I had about 110k in retirement accounts, 70k in taxable accounts, and around 10-15k cash. I was 24 years old. Arguably, I was lean-coastFI, meaning if I didnt save anything more, I could probably be leanFI by retirement age just on the savings that compounded. I don’t remember the exact numbers, but at my old job I was probably making close to 200k/yr including RSUs and bonus. I got an offer for the other job, and the pay was 88k - not a terrible salary but definitely a huge cut - still, I was expecting 65-70k, so I was a bit surprised. Healthcare benefits were similar. Retirement options and general perks were better at the FAANG but not terrible at the other org. + +I thought about it a lot. I met the staff at the org multiple times to feel it out as best I could. I tried to keep myself in check, but I’ll admit that I was very hopeful and idealistic that taking this opportunity was going to give my work so much more meaning, and that the pay cut was going to be totally worth it. + +#9 months later: the grass is not as green as I thought it would be, but it is still greener + +There are days when my work is everything I thought it would be; I get to step into a really interesting and impactful research project, and unblock or build upon it using my tech/CS background. Or, I get to learn about interesting research and apply a computational lens to it. When my days are like this, the adage “Find work you love and you will never work a day in your life” really feels true. + +But, this is not every day. Sometimes I’ll go weeks or months without one of these days, and it sucks. Just like my old job, there are some projects that are isolating, chaotic, or too unstructured. On these days, it can feel like work is work, and FI is the only way to achieve balance. + +Add in life changes due to the pandemic, and it’s been a really rough few months. (To be clear, the pandemic had not started when I accepted the job offer. I’m not sure how that would have affected my decision-making, but I’m sure it would have shaken things up a bit.) + +While it has only been 9 months, and some of the most unprecedented months at that, these are the lessons I’ve learned about taking the leap for a more fulfilling job. These are as much lessons about myself as they are about the world I live in; I’m sure some of these simply do not apply to you, but I like to think that some of you will benefit from reading this. I repeat: I do not claim these to be universal truths. + +##Purpose and fulfillment are forward-thinking, long-term concepts, not something that is lived day to day + +When I started this job, I’ll admit a part of me expected everyday to be dramatically more fulfilling than my old job. This is simply not the case. Yes, some days are exhilarating in a way that my old job never could be, but many days are not. That being said, when I think about what I could accomplish in 3, 5, or 10 years at this current position, I am significantly more content with the possibilities here than at my old job. When I think about the experience I am getting at this job, I know that it’s putting me on a track toward being the professional/field-expert I want to be - even if I were to end up changing jobs or the company dies. + +I now believe that this is what purpose and fulfillment from a career means for me. It doesn’t mean changing someone’s life every single day - though I imagine it could be like that in other fields like medical professions or social work, for instance. But, even those fields, I imagine, are going to have down days where even the best efforts don’t seem to make a difference (… and that’s all I’ll project onto professions I have no experience in). You need to be fulfilled by the long term potential, because day-to-day wins/losses are not going to be sustainably fulfilling. + +##A fulfilling job is still a job + +Some of my projects are less interesting than others. Sometimes I have to work on a project that I don’t think has a lot of potential for impact. Sometimes a project is isolating or poorly managed. Some days I feel like a codemonkey/grunt and not the creative professional I strive to be. During my first several months, these realities hit hard. I thought, “Why am I doing this when I know I’m capable of doing better things?” + +What I’ve learned is that sometimes it’s best to take a step back, sort of put yourself on autopilot with your job, and put less symbolic meaning into it. Similar to how you set up auto-deposits into your market accounts, you have to look towards the future and ask yourself, “Is the direction I am headed toward one that I am proud of? Will it, to the best of my knowledge, give me experiences that I want to have had in the long term?” If the answer is yes, let that be the end of it: treat your job like a job and let your time on it accumulate. Have no expectations about your day to day experience. Just like the market, my workdays have dramatic up and down swings. I have to assume that if I am properly allocated (metaphorically), my professional “net worth” will trend upward, and not let myself feel despair during a “crash.” (I hope this metaphor makes sense…) + +Another way of thinking about this: internal motivation is not always reliable. Some days I’m not super motivated to work on projects that I actually really like. On these days, I’m reminded that a fulfilling job is still a job, and to expect otherwise can lead to disappointment. I try not to lose sight of the fact that I am where, to the best of my knowledge, I want to be - even if it occasionally does not feel like it. + +##Being around people who share your values is extremely important, but it’s not all that matters + +One of the things I love about my job is that everyone in the org is dedicated to the organization’s goals, and these goals are ones that strongly resonate with me. The same could not be said, IMO, about my old job. However, there are much fewer people with my professional background (software/CS) here than my old job, and sometimes that can be isolating. Especially when working on less desirable projects. + +I knew from the get-go that there would be fewer devs I’d be interacting with, but that didn’t stop it from getting a bit painful at times. Thankfully, I have been able to advocate with some success that we get more engineers on a project. And, there is some reasonable expectation of growth in the next year, such that we should be able to hire a few more devs I will work closely with. + +I guess the advice here is do not expect that being around people with shared values will always be an adequate substitute for the kind of collaboration that only comes from working with people with a similar professional background. You need both. + +##You may still need to seek out external professional development in order to meet your goals + +One of my goals when I got my new job was to learn about new fields. In particular, social sciences. At first, I thought that given the dramatic career shift I made, I would meet this goal primarily through my work. And, some days I do. But, as is becoming a trend in this post, this is not always my daily experience. I have decided to pursue extension school classes in psychology to fill this goal so that I can reliably fulfill it. I plan to get a certification in the next year or two, and potentially continue to a master’s degree over the next five years. I took a class last spring, and while I did not take a class this fall, I have decided to dedicate some time everyday to reading a textbook or research paper in an area of my interest. This way, I am meeting my learning goal nearly every day, even on days when I am not learning on the job. I find it essential to set up a routine where I am *reliably* fulfilling this goal, otherwise I get very down. + +##You won’t feel fulfilled by your job if you are not happy with your home life + +The pandemic is a good case study for this. The last several months have been very destabilizing to my home environment, and this made it really difficult to tolerate downswings at work. There has, at times, been a temptation to quit and try something else. But, in retrospect, this temptation came more from the uncertainty about the world and what my personal life would look like in it. My SO and I have made a lot of changes to adapt to a COVID-19 world, and I can say that finally having what feels like a stable and pandemic-safe home-life balance really alleviates my temptation to run. Sometimes I think I feel a temptation to leave work just so that I can feel like, for a second, I have control over my life during a time in which there are such extreme external circumstances that are outside of my control. + +##If you think you cannot apply your skillset/experience to a new field, you are probably wrong + +When I started looking for other jobs, I thought I wouldn’t be able to do the kind of work I wanted without going back to school. But that was not the only option, and it probably is not for most people considering a career change. Do the legwork to find organizations that resonate with you, and reach out to see if/how you can apply your background. + +##Sometimes things work out in unexpected ways, so have faith + +I felt stuck in a project that really didn’t resonate with me for a while. But I kept working on it, even though there were times where I dragged my feet. I didn’t want to make a stink when I was so new to the job. Over time, though, it became clear that this project could have other applications that actually much more strongly aligned with my interests. And, other parties started to become very interested in these new applications. I still have some reservations, but, overall, a situation that felt a bit bleak did get better. + +I’ll remember this in the future, and try not to get too down about situations that feel bad in the moment. + +##Great managers exist and are so much better than good managers + +At my old job, I had three managers. One was OK - his management style did not mesh well with me, but I think it was a style that worked for some. The other two were pretty good. It’s hard to think of complaints. But my current manager continuously surprises me with their level of understanding and compassion. I feel much more at ease discussing issues that I am facing because I know I will be listened to without judgement. + +#The verdict: Was it worth it? + +The short answer is that 9 months is not enough time to definitively judge if it was worth it. But, I’ve had a lot of ups and downs in these 9 months (as we all have), and I can say that I am still very hopeful about the future, even if I did have some less hopeful moments. I’ve done some really cool things, and I feel good about the direction I’m headed. Additionally, my salary was raised to 93k (from 88k), and there are plans that, if go well, may increase my salary to 120k in 2021. So, it’s within the realm of possibility that I could still be making a reasonably competitive salary again one day… + +And yet, the money feels more like a perk than the main draw to the job. I’ve made peace with some of the realities that I was maybe too idealistic about in the beginning, but my level of existential contentment is still much higher than it was. I’m at a point where I feel reasonably confident that this career switch was a good choice in my life. And, if I can feel that way even when we are knee-deep in a pandemic, I think it’s likely a reliable assessment. + +Edit/TLDR: The positives seem to have outweighed the negatives for now, but there were still negatives and it is still a job. I'm happy I made the leap; the grass is greener but not in quite all the ways I had hoped. +My only withdrawal option on T212 is one of my credit cards with a £500 limit. This is despite the fact that i've also deposited funds via debit card and bank transfer. Right now I would like to withdraw thousands of £s which I can't do since my bank can't accept payments to my card in excess of this limit. + +The vast majority of my account was funded via bank transfer but they claim due to anti-money laundering laws they will only send withdrawals to my credit card. I've offered to provide verification i own the card so i can have it removed but I received no response. So what are my alternatives here? As it stands i have no way to withdraw my cash + +UPDATE: T212 eventually responded to my queries and unlinked the credit card from my account. I was able to submit a withdrawal to my debit card. Should have the funds by Wednesday + +Key takeaway: Don't use a credit card to fund your account, at least not with T212. Haven't had similar issues with IBKR, regardless I'll just use debit cards and bank transfer going forward +Good Afternoon Apes, i hope you are enjoying your weekends, this post is mostly hype and conjecture and the product of 3 bong rips and the adrenaline/endorphins from a tasty deadlift session, this is not financial advice, merely a man drawing conclusions from what i have read and perceive to understand, very open to being obliterated in the comments by the more wrinkle brained. + +Now that we've got that out of the way, LISTEN AND LISTEN WELL YOU CRAYON MUNCHING RETARDS, THESE FUCKING ASSWIPES AT THE HOUSE FINANCIAL INVESTIAGTIONS COMMITTEE OR WHATEVER FUCKIN SHAM NAME THEY GIVE THEMSELVES JUST GAVE RC THE GO AHEAD TO SLING HIS (allegedly small) WEE WEE WHERE HE PLEASES. These latest posts outlining have been all over the place trying to understand just what the fuck is going on behind the scenes. After reading the report and concurrent posts on here I think we can come to a few conclusions: + +1. The Government is inept (duh) and in some manners complicit to the fuckery and crime (also duh) +2. The DTCC does not give a singular fuck about anyone on the planet but themselves and their profits, especially after Jan 21 when they got the RH/Ken Griffin Bag handed to them, proven by their recent rule changes and the news regarding their margin waiving. +3. The DTCC will shut off the buy button/restrict trading/waive margin again if it is in their self interest of profitmaking to do so and there will not be a consequence for doing so. +4. Restricting a stock with "idiosyncratic risk" from behaving as the free market would naturally will it is not in the best interest of the retail investor. +5. RC has been paying very close attention to this as his company is directly involved and implicated. +6. in GameStop's 10-K(maybe 13-k?) they warned the financial world, in writing, that should the DTCC be deemed incapable of protecting THEIR (GME) shareholders interest, that GME would remove their shares from the DTCC ( Badabing Badaboom MOASS bitches) +7. RC and every other member of the GameStop Board is directly incentivized to disrupt the gaming industry with share offerings. +8. DRSING your shares removes your shares from the DTCC + +These conclusions mean the one thing we can do in our Theater of War: DRS, and fast. I have been seeing Purple circles in waves since the news came out, but we need more. I believe in all of you shit slinging apes to HODL, DRS, and ZEN, the reward of which will be the keys to making this world of ours just a bit better. + +RC bet 15000 BBBY Calls that we can hit the mysterious magic DRS number before 2023, he believes in us too. +Throwaway because this is honestly embarrassing to talk about. I work for a local grocery store (not a big chain just a more regional one) and the pay is absolutely horrible. The only reason I stick around is because I’m one of the more senior employees so I can usually tailor my hours around when my daughter is home so I don’t have to pay for childcare. I’ve interviewed previously for a few other places close by but any increase in salary there would more than be eaten up by the cost of childcare so I stick to my current place. Recently with the cost of everything rising our budget has been severely affected to the point of having food on the table is a concern. I’ve watched for years as we throw away slightly bruised fruits and vegetables, cans and boxes of pasta with a few dents in them and breads/bakery items that have expired but are still good for another day or two. + +I finally had enough and one evening after my shift I went to the dumpster and got out as much as I could. I got several boxes of pastas and bakery items that were still good to use! I thought I had just discovered a way I would be able to help my family get by until the next day at work when right at the beginning of my shift I was taken to the management office. I was sat down and shown a video of me dumpster diving from a security camera at the back of the building. I was told that effective immediately I was let go because “it was a horrible look to have employees pull food out of a dumpster.” I tried my best to make my case but to no avail. I seriously just feel so defeated, I was punished for trying to provide my family with a basic necessity and now I’m really scared for the future without a new job lined up. +#NOT ENOUGH PEOPLE ARE TALKING ABOUT VOTING. + +If you have friends, family, and friends of family whom you've convinced to DRS, take it another step further and tell them to vote. + +You'd be crazy to NOT vote. Whether you are with a brokerage or Computershare. FUCKING VOTE! + +If you're still waiting on your proxy documents. Or even an email that tells you to vote. + +Here's the only thing you need to know. + +#QUESTION 5. DO YOU WANT MORE MONEY? YES OR NO. No should not even be a choice. + +Don't waste any time. If you were a DRS straggler, YOU KNOW BY NOW THAT WAITING WILL DO NOTHING. + +#IF YOU ARE ON COMPUTERSHARE: Make sure you check under the "SUMMARY" page and look on the left side to vote. + +#IF YOU ARE ON A BROKERAGE: Make sure to check your emails. The information will be sent to your inbox. + +Submit your control number to a specified GameStop partner to attend their virtual AGM! + +See your apes on Andromeda! +I finally bought a ps4. It's used, and the controller is kinda busted, but I saved every dime and now I finally have one. + +Just wanted to share. :) + +Edit: I started today just happy to finally buy myself a very rare luxury item. It snowballed into so many amazing people sending me games they don't play anymore, games they never played and flat out buying games for me. You all are fucking amazing. This is crazy. I just wanted to share that I bought myself something, and you all have made my month. Thank you all so much. +Recently, Kobe Bryant wrote a letter to his younger self. Out of everything, he warned his younger self to INVEST in family, not to PAY for family. It's especially poignant with all of the threads here where a poster has family that expects him/her to bankroll them in some fashion, just because they can. Someone with more reddit acumen than I should add it to the related Wiki indexes. I think it would especially poignant in the "Windfall" link. + +http://www.theplayerstribune.com/kobe-bryant-letter-to-my-younger-self/ + +>When your Laker dream comes true tomorrow, you need to figure out a way to invest in the future of your family and friends. This sounds simple, and you may think it’s a no-brainer, but take some time to think on it further. + +>I said INVEST. + +>I did not say GIVE. +Blanderson Snooper here, back with another page of toilet reading for all you Apes. Does an Ape shit in the woods? Only if there's wifi. + +If you want a shot of feel-good confirmation bias, skip to the last section, "The Good News." See you back here in a minute. If you're ready to take the whole wild ride, buckle up and enjoy. + +🚀🚀🚀🚀🚀🚀 + +Four weeks ago I published [the Wargame Theory](https://www.reddit.com/r/Superstonk/comments/mvov2f/the_gme_wargame_a_new_theory_of_everything_my/), a cultural DD that used narrative as a way to explain some of the unexplainable parts of the GME saga. That theory explained events up to 4/17, and made some fairly accurate predictions about where we were heading. This one skips ahead to the present day. If the Wargame Theory was about plot, the sequel is a character study of the antagonist. + +I called that one my Charlie Day-DD because it was my Theory of Everything. This is my Vizzini-DD, where I try to reason through a problem using only the psychological traits and life experiences of my opponent as premises. + +[It's all in the names](https://preview.redd.it/h415beipr1071.jpg?width=680&format=pjpg&auto=webp&s=3c89c0e8cb5f8ff8f66156a2bf7b08c28ba28730) + +Before we get into the new timeline, I want to highlight the most important prediction of the Wargame Theory: + +&#x200B; + +>"I think the Good Shills have been winning the war for the Apes. I also think we have one last boss to fight. It’s not Citadel shorts. It’s the MOAFUD." + +**Big Bad confirmed: The Mother of All Fear, Uncertainty, and Doubt** + +By last month, I was convinced that the shorts were trapped in a black hole of their own making, that they could neither stop shorting nor extract themselves through any market mechanics, even illegal ones. People I trust were fond of using that analogy, and the technical DD suggested it even though it was incomplete. + +The Wargame Theory was based primarily on u/c-digs’ analysis of the regulatory environment (I’m also posting his ongoing DD because I find it excellent and bullish). + +[Why We are Trading Sideways](https://www.reddit.com/r/Superstonk/comments/mu9xed/why_were_still_trading_sideways_and_why_we_havent/) + +[Why SR-OCC-2021-004 is So Important](https://www.reddit.com/r/Superstonk/comments/mnpzu5/srocc2021004_why_this_proposed_rule_change_is/) + +[The Brakes Might Be Off This Week](https://www.reddit.com/r/Superstonk/comments/nfagu1/this_week_might_be_it_the_brakes_are_possibly/) + +**tl;dr – SR-OCC-2021-004 is scheduled to drop on or before this Friday, May 21. That, along with the OCC raising its Clearing Fund by almost $600,000,000 (due today, May 19), means that we may now have the regulatory framework** ***and*** **institutional action in place to give Marge the go-ahead.** + +That’s why I’m writing this now. + +We’ve understood them technically, and beaten them technically. + +We’ve understood them culturally, and beaten them culturally. + +All that’s left is the MOASS. Oops, our bad. + +# The Wargame Theory II + +The Wargame Theory was a cultural DD trying to fill in gaps in the technical DD by thinking about what was happening in the community. It sought to answer questions about trading and reporting anomalies, SEC inaction, and how our communities have functioned in the absence of clear evidence around any of them. At the end, as I did in [my original cultural DDs](https://www.reddit.com/user/Blanderson_Snooper/comments/m793qf/gme_apes_a_cultural_due_diligence_part_1/) (with way more memes), I tried to impress upon Apes the importance of learning to recognize and counter FUD. + +The Wargame Theory II, on the other hand, is based on a series of technical DDs that I have had my eye on for some time regarding the short interest and methods of hiding it in the strange options plays we had seen from time to time. This time the technical DDs help us understand gaps in our cultural knowledge. + +What I mean is, I think these theories help explain Glacier Capital's appearance, why its appearance signals an imminent MOASS, and what it might look and feel like. + +(One caution, I’m not a financial guy, so I hope that the more technical folks (or even original DD authors tagged here) will come in and fill in gaps. Also if I have missed important pieces of the puzzle let me know. Something tells me u/HomeDepotHank69’s DD should fit in here somewhere, but I am not sure how. Maybe I'm just a fan.) + +In chronological order, I think these are the technical DDs that suggest the story I’m about to tell. + +u/dejf2 \- [The SI% is Fake](https://www.reddit.com/r/GME/comments/mhv22h/the_si_is_fake_i_found_44000000_million_shorts/) + +u/broccaaa \- [The Naked Shorting Scam/Dark Pool Activity](https://www.reddit.com/r/Superstonk/comments/mvdgf5/the_naked_shorting_scam_in_numbers_ai_detection/) + +u/eastrod \- [A Method for Hiding FTDs in Useless Puts](https://www.reddit.com/r/Superstonk/comments/mzgtvx/a_method_for_hiding_ftds_that_uses_the_109mil/) + +u/Criand \- [Estimating Current SI% using Deep ITM Call Purchases](https://www.reddit.com/r/Superstonk/comments/nc1lny/ive_estimated_the_current_si_based_on_the_si/) and [May 20 ICC, DTC, OCC Rules Updates](https://www.reddit.com/r/Superstonk/comments/ngru15/the_flurry_of_rules_before_the_storm_dtc_icc_occ/) + +Now to the story. + +# Kenny’s Greatest Weakness: A Weird Obsession with Names + +One thing we know about Ken Griffin is that [he thinks very carefully about names](https://www.chicagotribune.com/business/ct-ken-griffin-children-1109-biz--20141107-story.html). + +Kenny used a spreadsheet to pick names for his children, despite his wife reporting that “he has shown little interest in them” after they were born. He used the spreadsheet “trying to ensure that any name or combination of letters wouldn’t doom his three children to ridicule.” + +Now look, I’m not saying Glacier is the tip of the iceberg or anything, buuuuut maybe I am. + +My belief is that Kenny is obsessed with names that are evocative of real things but which also serve as metaphors for understanding what they do. I think it’s an attempt to be clever, and to hide private jokes in plain sight as a way to feel superior. + +Kenny: "Haha, I'll use Glacier first because it's only the tip of the iceberg! But they'll never know it because I'm going to get them to sell!" + +I don't think Ken's a very funny guy, so if that doesn't seem funny it's because it isn't lol. + +**I have come to think of his this weird relationship with names as his supervillain weakness. He just can’t help himself, and it reveals everything about his plans.** + +# Evolution of the Apes and the MOAFUD + +I want to start by saying that I have more confidence in Apes than ever before. Apes have absolutely mastered the art of FUD War, now regularly calling out Forum Sliding, Anger Trolling, and coordinated shilling in nearly real time. Even more encouraging, Apes have done this by clearly defining their community rules and then *taking responsibility for enforcing them*. + +Apes have intentionally learned together how to approach trolls and shills, how to recognize and deal with coordinated FUD, and how to maintain emotional control when under duress. The mods of Superstonk have been incredible at guiding this community through these troubles, but they couldn’t have done it had the Apes not constantly gotten better and better. + +**This is exactly what was needed to face the MOAFUD, which I believe has now been revealed.** + +As I watched Apes swat aside threat after threat this past weekend, I knew the Apes had become the formidable diamond-handed badasses necessary to deal with any threat. Still, I knew the MOAFUD loomed and still hadn’t seen anything that pointed to it. Not until Glacier Capital. + +It wasn’t long before I was convinced this was FUD, but I didn’t know its magnitude until [this crowdsourced DD came out theorizing that Glacier was one of many shell companies where Kenny had been hiding his shorts](https://www.reddit.com/r/Superstonk/comments/nf8nsd/theory_glacier_and_other_new_hfs_are_just_shells/). (I prefer the term shill companies to shell companies. Some of them are real and subservient to Kenny.) + +**That’s when it hit me: the emergence of Glacier means that the MOASS is imminent.** + +Why? Because Glacier is just the tip of the iceberg. Haha Kenny, it’s neither funny nor clever. But it reveals everything. + +# The Games and the Names + +Like I said, it wasn’t until I saw Glacier that I realized Kenny’s obsession with names might be the key to revealing his endgame plans. Before I get to the crazy part, here’s the tl;dr: + +&#x200B; + +1. Kenny has been hiding the true SI% since January by using worthless puts to reset FTDs +2. He has been using dark pools to funnel the scheme privately to his "fortresses" +3. These shell companies will now act as a firewall to protect Citadel once the MOASS begins +4. One by one they will be margin called, each time forming a plateau during the rise +5. These plateaus will involve sideways trading for potentially days at a time +6. During each plateau there will be a 24/7 multiplatform shill attack trying to get Apes to paperhand +7. This is what 💎🙌 has been training Apes for. **It wasn’t for the wait, it was for the climb** + +&#x200B; + +Here are three names I will focus on: + +Citadel + +Glacier + +Sessa + +There is a bonus fourth hidden in the text, and even more in edits at the bottom thanks to commenters who are making some amazing connections. + +First, let’s look at Citadel. + +Kenny is a medieval war history nerd. I don’t know it, I just feel it in my bones. His last name is Griffin, a medieval animal that appears on shield and flag heraldry. He likes to tell “war stories” about how he will fight to the last penny. He named his companies Citadel. All of them. + +American Heritage Dictionary defines a citadel as, + +>"A fortress or castle in or near a city, intended to keep the inhabitants in subjection, or, in case of a siege, to form a final refuge and point of defense." + +I think Ken called his company Citadel because it is a place of rulership, a place of refuge, and because he envisioned building it at the center of a network of fortifications that would extend his reach in times of prosperity and fall on their swords to protect him during times of war. + +[Maybe this DD is a partial list of the fortresses](https://www.reddit.com/r/Superstonk/comments/nf6i4o/the_chicago_code_how_a_whole_city_wants_to/). (I’ve only skimmed it.) + +I believe we’ve seen the first two fortresses leak in the last couple of days: Glacier Capital and [Sessa Capital](https://whalewisdom.com/filer/sessa-capital-im-lp). I know Glacier’s been the big talk, but u/hc000 alerted us to this as well: + +[Uhhh why dudes?](https://preview.redd.it/nmpzy1zss1071.jpg?width=1031&format=pjpg&auto=webp&s=3848f368f670229e57c352283e2cc5dff91287d0) + +Remember how Kenny named his children things that couldn’t be made fun of via any combination of letters or sounds? Well, “sessa” is literally a word that doesn’t exist. Look it up and the best you’ll find is that it’s an exclamation found only in Shakespeare. But that’s not the only thing interesting about sessa. The argument over what it means also fits into this theory. + +Remember that each of Kenny’s fortresses is meant to attack when strong and defend when under siege? Well, the most common understanding of sessa is that it means something like [“peace, be quiet” or “leave, have done, or let alone.”](http://www.perseus.tufts.edu/hopper/text?doc=Perseus:text:1999.03.0067:entry=sessa&highlight=sessa) + +But Dyce’s General Glossary to Shakespeare’s works (1904) has another interpretation, an opposite one, a martial one. In Dyce’s words, + +>“I must confess that I do not feel satisfied with these notes on sessa: if the word, as used in at least the second and third of the passages above referred to, may be illustrated by the following lines of Sylvester's *Du Bartas*, ed. 1641? Joshua urges on his troops: +> +>“Sa, sa, my Hearts! turn, turn again upon them, +> +>They are your own; now charge, and cheerly on them.” +> +>*The Captaines*, p. 182; where the original has “Cà, cà, tournons visage, allons!” + +Kenny is smart, educated, and from a wealthy family. He learned Shakespeare, and may have even mastered it as a superficial sign of erudition. It could also lead him to being fond of medieval history, as I have suspected, and particularly stories of kings and armies. If he had mastered Shakespeare, maybe he had stumbled upon *Du Bartas* through Dyce and found the dichotomy perfect for one of his fortresses. + +**You know what else is a medieval story? Robinhood.** You know what else would be a "joke" hiding in plain sight? Calling something Robinhood that actually steals from the poor and gives to the rich. Just sayin’. + +Anyway, last thing about sessa. It appears only three times in Shakespeare, once in *Taming of the Shrew* and twice in *King Lear*. King Lear, like Kenny, had three daughters. Is the “shrew” his ex-wife? **Is Kenny sacrificing Sessa first as a fuck you to his ex-wife and their three children?** + +Hey, it’s my theory, so I’m gonna say YES. + +You know Kenny loves sessa. He probably imagines himself with a whip and a sword, telling paperhanded retail to sell faster, screaming “SESSAAAAAAA!” like a medieval *captaine* atop the ramparts of his Citadel. + +And just to bring this full circle, I think Kenny picked Glacier to go first because of the tip of the iceberg joke. Just look into his eyes and tell me that’s not his version of a serial killer leaving clues for the police. + +[Dem eyes doe](https://preview.redd.it/71booio6t1071.jpg?width=242&format=pjpg&auto=webp&s=f74161729ce70afd6ac35f7993943490bc2b1175) + +# Kenny's MOASS Strategy and the Mother of All FUD Revealed + +Let me just repeat what I said earlier. I believe the revelation of Glacier and Sessa means the beginning of the MOASS is imminent. I want to also repeat that I am not a technical or financial analyst and have no experience in markets whatsoever before January. This is just my theory of how the MOASS will play out, based on the analysis above and my own synthesis of everything I’ve read here during that time. + +**If what I say next is in any way FUDDY please let me know and I will clarify and/or retract it immediately!** I’ve avoided technical speculation in all my DDs because I know how much I don’t know, but this is my operating theory of how the MOASS will play out when it comes. I’m happy to adjust it if something is just dead wrong. This is just what I think Kenny's strategy is, I have no clue how it's going to actually play out. + +Ok. + +It’s long been suggested that the MOASS could take days or weeks to reach its peak, but that it wouldn’t look like a straight peak as in past squeezes. Rather, it could look like a series of sharp increases that represent margin calls, followed by a plateau as Apes still aren’t selling but the buying pressure of the margin calls dissipates. + +Houston Wade [laid this theory out](https://www.reddit.com/r/Superstonk/comments/n5b75j/houston_wade_says_the_hedge_funds_want_the/), that the hedgies would try to drag things out at a consistent lower price rather than let it all happen at once leading to a massive peak. I think that is accurately predicting Kenny’s strategy, but that it’s impossible because Apes own the float and the SI% is so, so, so high. He also says the DTCC might try to settle the outstanding shares once all the hedgies are gone. I have a third DD in the works that takes this premise and runs with it. + +But, if the theory that Kenny has been spreading out the shorts is true, then I think one reason he’s doing it is to mitigate the damage any one margin call might do. I believe he knows what we know, though: **the only way Apes can lose is if they paperhand,** because we own the float so many times over that any reasonable margin call will almost certainly lead to a domino effect all the way back home. + +Well, what if Kenny has hidden the short interest in so many small firms that it’s no longer a huge weight around his neck, but “[thin, sort of stretched, like butter scraped over too much bread.](https://www.youtube.com/watch?v=fksu6FENojY)” The plan would be to trigger a margin call so small that the price of Gamestop jumped significantly but didn’t cause a domino effect. These firms can be small enough to avoid reporting requirements, or [in a favorable foreign territory such as Luxembourg](https://www.reddit.com/r/Superstonk/comments/nfcnp1/luxembourg_home_to_the_mysterious_glacier_capital/) where even more shenanigans might be available. + +Kenny knows that Apes are diamond-handed, so as the buy pressure dissipates the stock’s action will resume its “normal” sideways trading pattern for a while. Could be hours, could be days until the next margin call, but a plateau that can be exploited nonetheless. + +I know Apes hate thinking about any kind of squeeze control, but I think it's wise to prepare for the worst, *particularly because we have nothing to lose by it*. We control everything, the only decision Apes have is sell or no sell. Thus, I believe that is what Kenny will attack with all his might. + +&#x200B; + +[We ready](https://preview.redd.it/mmfmo9dcv1071.jpg?width=1238&format=pjpg&auto=webp&s=b19709a92517fda8c6cb0fe66ecc54d832dc672d) + +**The Mother of All FUD is the all-out, 24/7, multi-platform blitz of** ***every shill at Kenny’s disposal*** **during the MOASS.** + +Warning: The next section imagines some scary scenarios. It's not meant to scare, it's meant to help us prepare. + +YouTubers, internet trolls, the mods of popular subs (not just GME subs), old media, new media, everything is going to be yelling at you to sell. They will call you stupid, lazy, young, a mob, terrorists…whatever they can to get you to sell. + +They will try to get you to think about your broker balance. They will post gain porn and loss porn so manipulative you won’t believe it. + +I’m sorry to all of the genuine folks who post stories about “Why I hold” on here, but there will be amazing stories of what people have been able to do with their gains in the tens or hundreds of thousands. They will get sick children out of the hospital. They will post videos of their lambos. They will pay off their parents' debt for the first time in their lives. They will make you think about your own balance, and what you could do with it as it looks now. They are going to try to get at you however they can. + +The Mother of All FUD is everything we have seen to date, and things we can’t imagine. Diamond hands are going to have to trust themselves, and everything they have built here over the past few months. Trust your knowledge, trust your exit strategy. Print everything, because reddit may go down. + +[If you don’t yet have one, I made a list of important MOASS and Exit Strategy DDs here.](https://www.reddit.com/r/DDintoGME/comments/n69qhp/compilation_of_moass_and_exit_strategy_dds_and/) + +And when we tune it out long enough, the next domino will fall. Kenny will once again try to set a plateau and hammer Apes to paperhand yet again. You thought it was hard to hold through a few hundred thousand in your account? What if your account shows $7 million and every news channel in the country plays a variation of this story, + +&#x200B; + +>“Citadel LLC has finally called it quits, ready to pay reddit army to save the U.S. economy. Founder Ken Griffin pleads with shareholders to save America from another financial crisis, speaking from an emergency meeting with President Biden and his top economic advisors.” + +&#x200B; + +Like any good villain, Kenny knows how to attack you by threatening those close to you. You start getting calls from your family. Your grandmother read in AARP magazine that GME is threatening her Medicare. Your coworkers think you’re putting their jobs in danger. + +Your partner’s father calls and says he’s worried you are going to bankrupt his retirement account. He’s heard that suicides are becoming common on Wall Street because you are holding GME and won’t let go. He asks your partner if the two of you have joined a cult. Their relationship is straining. + +You’re looking at $7 million if you sell now. Life can go back to normal. Can you hold? + +This shit is coming, Apes. This is the Mother of All FUD. + +**But it doesn’t matter, because Kenny’s weird obsession with names has given it all away.** + +# The Good News + +We did it. I believe it. The MOASS is imminent, and we are the catalyst. I know we all want an external one, but let’s just take pride that our 💎🙌 and amazing community have fought so hard and so long for this moment to come. Let's take pride that we don’t need a catalyst, because the power is all in our hands. We need only the courage to hold it and to wield it. + +After everything, it comes down to the mantra. + +**Buy. Hodl. Vote. The shorts must cover.** + +The longer we hold, the farther we will go, and we will have to go FAR if we want to touch Citadel. I know many of you want to go even farther than that, and to you I say GO FOR IT. We all came here for our own reasons, and we all HODL for our own reasons. Each of us is going to take this as far as we want it to go. + +Nothing about this has been easy, just like Mark Cuban said. But the amount of change we have the ability to bring to the world is staggering. + +The amount of growth we as a community have fostered in one another is equally staggering. + +We are on the verge of the greatest economic event in history, the MOASS, the age of the Apes, where wealth and political power will be bent toward the good of humanity and away from the vanity and greed of psychopaths. And who did this? + +You did. And you. + +You beautiful x holder and you xxxx baby whale. + +You reformed day trader, and you soon-to-be-retired daycare worker. + +You crayon-eating monke, and you intelligent-but-perpetually-annoyed explainer. + +You poet. You meme-maker. + +You know-it-all. You dream-maker. + +You shill-hunter, You upvoter + +You DD authors, wrinkly as they come + +And you mods, oh you mods, my Queen and her court + +All of our hearts will beat for yours forever. + +💓💓💓 + +This is it. The MOASS is coming. I do not know when, I am not implying when. + +I am saying that we will now know it when it comes, and as I have watched you for the past month, I know that you are ready to see it through to change history. + +I’m proud to be an Ape. See you on the other side of space and time. 💎🙌💎💓🦍🚀🚀🌜 + +Blanderson Snooper + +🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀 + +P.S. Say something cool below and [you might make it into the FAQ](https://www.reddit.com/user/Blanderson_Snooper/comments/myi3zb/the_gme_wargame_dd_faq/)! + +P.P.S. Try out this awesome [MOAFUD Simulator](https://www.reddit.com/r/Superstonk/comments/nh1129/the_moadfud_simulator_ultimate_diamond_hand/) designed by [u/ljtmudokon](https://www.reddit.com/user/ljtmudokon/). Let him know how you did and show him some love! + +**EDIT 1:** u/FutureR1chApe adds: + +>"I'll also add something on this potential obsession with names: One of the way HF tried to get us to paperhand was by using a company named Rocket. And now, we are certain that it was a distraction because no one talks about it anymore, while there's been a lot of MSM articles about GME and other meme stocks." + +John Oliver: "OF COURSE he did." --BS + +**EDIT 2:** tl;dr courtesy of u/Georgesoliman + +>"This is serious boys. We have seen just how loyal the media has been with these funds both in January and over the past few months. If citadel and Kenny play this smart, they’re going to drag it out as long as possible, while using every psychological play in the book. It will be the true test of our diamond hands. We have seen dips, but what will all time highs with media vilification do? Will you give in to a friend of a friend or a family member telling you to paper hand out of fear for their livelihood? It’s going to be long and excruciating. +> +>But I believe in the apes. We have seen the DD. We have seen the psychological strategies. We have seen the reasons why we hold. We have learned just how corrupt the system is. We have gone as far as to recreate entire communities from the ground up several times. We’re ready. I truly believe in us. I believe that when we see the FUD we will remember every post, every fellow ape who has invested with us, and fall even more into the mindset of our namesake: Ape holds until we see the moon. Cheers my guys. Buy. Hodl. Vote. 🦍🦍🦍🚀🚀🚀" + +**EDIT 3:** u/Site_rules drops a bomb. + +>"The name Cordele means "Warm-hearted." and is of "Latin" origin. The Cordele name has a total "7" characters and it starts from the character "C". It's an attractive name, easy to pronounce and is primarily considered for the baby girl names." +> +>Maybe having a girl's middle name is at the root of Kenny's obsession with names, "trying to ensure that any name or combination of letters wouldn't doom his three children to ridicule." +> +>Is Kenny G our modern-day "Boy named Sue?" + +BS - Cordelia is the name of one of King Lear's three daughters. She is the one who tells him she can only love him out of family loyalty, causing him to banish her. Remember how his ex said that Kenny showed "no interest in the children after they were born?" 👀👀 + +**EDIT 4:** u/pino_brown bringing the heat + +>I think Palafox Trading LLC, the repo market arm of Citadel is also part of the name game. +> +>Per Google: “The noble Spanish surname Palafox is of toponymic origin, derived from a place name where the original bearer resided or held land. The surname appears to derive from the Latin term “palatiolos,” which means “small palaces.” +> +>It’s also the name of two Spanish generals, Jose de Palafox y Melzi, 1st Duke of Zaragoza and his brother Luis Rebolledo. + +BS - General Jose de Palafox was 1st Duke of Zaragoza, which is in the autonomous community of Aragon. From 2003 to 2009, "[Griffin was the lead investor in Aragon Global Management](https://en.wikipedia.org/wiki/Kenneth_C._Griffin)." WTF is happening? + +**EDIT 5:** u/boomverz getting Biblical. + +>Fascinatingly Archegos is also a biblical term meaning a sacrifice, one who goes first + +u/Muertomus adds + +>Archegos also is derived from Greek which means "One who leads the way" "The First to Go" First Hedge Fund to collapse, an omen to say the least. + +BS: A different modern translation comes out as "captain," which we already know Kenny likes. + +**EDIT 6:** u/MontyRohde confirms that the wealthy use meme names to flex their crime. + +>Enron hid loses from Joint Energy Development Investment Limited (JEDI limited) in a limited partnership called ChewCo. +> +>The elites also meme. Instead of images slathered with impact font, they give their shell companies silly names. Same frivolity but on a much grander scale with far grander stakes. + +BS - From the Wikipedia entry: "Chewco Investments L. P. was a limited partnership associated with the Enron scandal, which resulted in the bankruptcy of Enron. It was named after the Star Wars character Chewbacca, because it was created to hide losses from the Joint Energy Development Investment Limited, known by its acronym "JEDI". Like Chewbacca, the Jedi Knights were prominent characters in Star Wars." + +So, one of the scams that Kenny has based his on is confirmed to have used meme names for its shell company. 👀👀 + +u/GrubWurm89xx points out more evidence this is a game the wealthy play. + +>Don't know if it's been posted but Enron had another joke name on there books. Mr. M. Yass, which probably stood for My Ass. Money was disappearing off the books and being paid to this person + +**EDIT 7:** u/ProgressiveOverlorde bringing some fun. + +>I think u may be right about his medieval naming obsession thing. Motley Fool is like his Court Jester + +**EDIT 8:** Just heard about Ashler Capital from [this thread unraveling all of Citadel's umbrella companies](https://www.reddit.com/r/Superstonk/comments/nghov2/the_final_nail_for_citadel_and_youre_holding_the/). According to the Free Dictionary an ashler is, + +>a rectangular block of hewn stone used for building purposes building block - a block of material used in construction work stone - building material consisting of a piece of rock hewn in a definite shape for a special purpose; "he wanted a special stone to mark the site" + +Ashlers would be used to build citadels and fortresses, and may denote something special where they are used. What's so special about Ashler Capital, formed in 2019 and doubled in size since, according to their LinkedIn profile? + +**EDIT 9:** u/catsinbranches with the French lesson. + +>An alternative to your interpretation of “Sessa” is the French “cesse ça” which means “stop it”. Remember that his wife is French, and he has 3 young children. I’m willing to bet that gets said A LOT. If you say “cesse ça” quickly, it sounds exactly like “Sessa”. Maybe he’s hoping Sessa Capital can somehow put a stop to things? + +&#x200B; +I'm on the 40% tax bracket but I want to increase my savings quite drastically, so would like to bring in additional money. + +In the past when I was in the 20% tax bracket range I would work in a factory on my days off and weekends to supplement my income, but for £5 an hour now, back breaking work just doesn't seem good value for money. + +What can I do to increase my income? I've thought about selling goods on eBay and gave it a go but that didn't go anywhere. I'm thinking of becoming a taxi driver to increase my income also. + +Any other ideas? + +Edit: I make 63k a year +The past few years have been very good to Stephen Schwarzman, the chairman and C.E.O. of the Blackstone Group, the giant private-equity firm. His industry, which relies on borrowed money, has benefitted from low interest rates, and the stock-market boom has given his firm great opportunities to cash out investments. + +Schwarzman is now worth more than 10 billion dollars + +You wouldn’t think he’d have much to complain about. But, to hear him tell it, he’s beset by a meddlesome, tax-happy government and a whiny envious populace. + +* The billionaire said that Americans *“always like to blame somebody other than themselves for a failure.”* + +* He recently grumbled that the U.S. middle class has taken to blaming wealthy people for its problems and said that it might be good to raise income taxes on the poor so they had skin in the game. + +* He said that proposals to repeal the carried-interest tax loophole from which he personally benefits were akin to the German Nazi invasion of Poland. + +http://www.newyorker.com/magazine/2014/07/07/moaning-moguls + For many years we've tried to delay discussion about crypto on the sub for many reasons. Just like penny stocks and otc, the negatives outweighed the positives about letting it freely be discussed on /r/wallstreetbets. Our main concern is that crypto discussion overtakes the core of what /r/wallstreetbets is about which is the stock market. I've known at some point that /r/wallstreetbets will have to find a place for it. As much as some of us hate it, there are just as many that love it and the way I've always tried to shape the sub is to never gatekeep, allow everyone to feel welcome, and always be able to adapt. I don't see the point in delaying the inevitable anymore as crypto is here to stay. + + +After much deliberation, we've decided to allow for discussion about only BTC, ETH and DOGE only. inside of a daily Crypto discussion thread as to not burden everyone with crypto spam. All rules will still apply outside of the thread but for now please keep it in the daily thread only as we gauge if this is something that is right for our sub. Just to be clear, we are not a crypto subreddit. We're just trying to find a place for you guys within our subreddit. + +Lets gooo. +This guy comes out of nowhere and makes the exact same post on r/Superstonk r/WSB and r/amcstock, asking to be banned and coming up with some bs excuse about not wanting to see content from these subs on his popular page. + +He incorrectly "believes" that will stop posts from showing up on his feed, he targets all three supposedly "meme" stock subs, doesn't comment on his posts, receives an ungodly amount of awards (and still no answer) and attracts all this attention. + +The result of this has been dozens of memes, screenshots and posts referencing this and effectively forum sliding the entire sub. + +Then there is also the fud about DTC-005 being posted repeatedly when there is great DD stating the opposite. + +Think about it. On the day that DTC-005 finally comes out of hiding, some random user comes out of nowhere with a dumb post (I get the upvotes on that point), spawning dozens of other posts. + +I believe this is a very clear attack on the sub, in the form of forum sliding, so that important information about DTC-005 doesn't reach as many apes as it should. + +If I'm right, then DTC-005 must be a pretty big deal. + +Be careful out there. + +🚀 + +P.S. He's complaining about movie stock posts on his feed, since when does any post from r/amcstock reach the front page? I haven't seen any. +I work in an industry that goes through cyclical restructuring every 5-7 years. It's almost like clockwork. X amount of redundancies offered, usually to cut the fat, so to speak. A year later all the roles are rehired under new titles, etc. + +It got me thinking, my company offers generous redundancy packages and entitlement payouts at the 7 year mark. I will be 30 after 7 years at my current job and calculated a redundancy package of circa 70k pretax. I could easily walk into a competitor for similar (if not better salary) and pocket the payout. + +I assume this is fairly common, but has anyone actively saught redundancy as an exit from an employer? What was your strategy or your story? How did you go about showing your interest in a redundancy without rocking the boat? Did you walk straight into another gig or take some time off? Anything you would've done differently? + +EDIT: I should add I like my job and not itching to leave. I don't mind spending 7 years here - probably not much longer than that. +Making my first big jump. Currently my biggest unit is an 8 Plex and I am under contract to close on a 84 units at $35,000/unit. Going through the DD and all that and just SCARED that I am missing something big and going to lose my A@@. + +Anyone else have these feelings on their first big purchase! +I just recently put all my savings into ETFs (ARKK, QQQM, QQQJ, VGT and VTI). i did this 2-3 days ago and now everything is red!!! i already lost $1000!!! + +im definitely panicking and not sure if i should just leave everything alone or remove it all at once +I was fired on Friday out of the blue. No 90 day, nothing. They said I wasn't completing the job fast enough and gave me a four week severance. + +I talked to the owner and he thinks he may be made a mistake and is willing to pretend like this never happened and sees some fault in there and want to make it better. I work with clients in consulting and he did not talk to all my client teams, but just a few. + +To be honest, I know this isn't the right place for me. I have been so stressed and anxious. Not doing good personally here and have been looking to get out. I have been applying since January, and have not had much luck. Two in person interview that didn't work out. + +I am thinking of going back and trying my best to focus during work on working and at night applying. But I also don't know how to do that with going on interview and stuff when I was already canned once. Being without a job would allow me to interview and find the right fit. That said, I have been applying since January and haven't found anything so I feel like take what I can right now and figure out the rest later. + +Would love your thoughts and opinions on what you would do in this situation. +I wanted to post this as a reminder to check your recurring subscriptions! There might be something you forgot about/ don't think about until the payment comes out of your account. The three I cancelled are +Amazon Prime: $15 +HBO subscription: $16 + Chegg Study: $15 +and there is one more that I'm on the fence about, but it would save another $11 each month. + +I don't know why I kept these for so long. I rarely order from Amazon. Definitely not enough to justify the prime membership, and I signed up for that free trial of HBO and then forgot about it. I haven't used Chegg in a year. + +I'm planning to put this $46 straight into my savings account each month. That will be an extra $550 by this time next year! + +If you haven't already, look through your bank statements from last month and make sure you cancel anything you're not using! +So there's a lot of discussion on how one should go about making an equity portfolio but nothing (as per my knowledge) on how to go about making a debt portfolio. After the emergency funds have been set aside, + +1. How should one select debt funds between the various types available (GILT, Short term, Corporate, etc.)? + +2. How many funds are ideal in a debt portfolio? + +3. What should be the percentage allocation within these different types of funds within the debt portfolio? + +4. How often should one review the debt portfolio? + +I fall in the 30% tax bracket so I'll be staying invested in these funds for at least 3 years to take benefit of LTCG and indexation. + +Would appreciate any framework to optimise the debt portfolio as well. +I have no kids, and my sister isn't the best with money. Growing up my grandparents and my father "did the right thing" with money, but they never really involved me in it except taking me to the bank and letting me write the deposit slip. It took me years of living on my own to figure out what the hell they were actually doing with the money. (inb4 "could have asked" - messy divorce when I was 13, grandparents died when I was 16, mom drained all the investment accounts for drugs, haven't seen dad since I was 17) + +So for my niece, I want to teach her in a different way. She's 12 right now. Here's my plan: + +&#x200B; + +TLDR; + +year 1 - $10 gift to start, in a box, i'll pay 10% interest on whatever money she has in that box at the end of every month. + +year 2 - 100% match as the gift, plus 10% interest on whatever money she has in the box at the end of every month. I will require her to keep a written record of her balances and my interest payments + +year 3 - 100% match as a gift, instead of 10% interest, she picks a security and I will pay her at the end of the month whatever that stock has done for the month + +year 4 - 50% match as a gift, same deal with the stock + +year 5 - I set her up with a roth IRA and her 50% match will be used for the opening deposit assuming she's had enough of an income by now (age 17) + +I'm going to send her $9.99 for Christmas. Along with a treasure chest style box to keep it in. And an agreement that every month, I will pay her 10% interest on the balance she has in that chest. I picked $9.99 instead of $10 because this way I can give her a five, some ones and a bunch of change because kids. I figure the more pieces she sees the more value it looks like. + +There is no restrictions on what she can do with the money. She is free to take it all out and spend it immediately if that's what she wants to do. + +Then each year for Christmas, instead of the 10% interest, I will match 100% of what she has. + +For the first year, I will be mailing her the money in an envelope. In the envelope I will include a very basic statement, showing her balance for all the months and the interest I paid. Starting in year 2, I will send her a blank statement sheet for the year, and in order to get the interest, she will have to count the money, write down her balance, and submit it to me. + +When she turns 15 I will stop paying 10% by default, and instead let her choose 1 stock or ETF. I will pay her based on the performance of that stock. I'll still send her the same statement, but now will add a graph showing the performance of her stock, and the performance of VTSAX for comparison. I'll let her change her stock pick once a month if she wants. If the stock runs negative she will get $0.99 in pennies, don't want her to get discouraged. Or I might just pay her a basic interest rate at whatever the current rates are in addition to the stock percentage. But who knows, they might be negative by then + +The following year I'll cut the match from 100% down to 50% (she'll probably begin working and I don't wanna get suckered in to paying her $10k) but keep the same deal with the stock choices, but she can now choose more than 1 and she will be paid the average. Same as with the statements, in year 2 she will need to send me a report of the stock(s) performance in order to get the payment from me + +I'm projecting this to cost between $3,000 and $7,000, depending on how much money she saves when she begins working. $3000 is about what the payout would be if she never took money out and never added her own money in and got a nice 3% return per month, every month on her stock picks. And really, the couple dollars a month I'm paying in interest should pretty much be covered by the interest off my emergency fund. That's how I came up with this idea actually, wondering what to do with the couple bucks a month in interest that would be worthwhile. +Was trying to log into my Wealthsimple Invest account and saw that we can now choose to log in to the Wealthsimple Trade platform also. This is huge as this was one of my biggest complaints agains WS Trade. The site is still in its Beta stage, but definitely looks promising! +I am unable to pay rent this month because I am currently employed as a temp worker and went through a good two weeks where i was not called in to work. I have been trying to spend very little but all my savings are basically gone just from paying my phone bill and necessities like TP shampoo etc. My rent where i am currently staying is 375. Is there anything that i could do to turn what i have into that? if not, what should i do with it? + +Edit: just for reference, i do not have a substance abuse problem and never did. I am only in a sober living because it is cheaper than rent in LA and the manager was nice enough to let me in even though i dont have an abuse problem + +Double edit: thanks to a few amazing and kind redditors i now have rent. I will be using my time wisely all of your kindness has motivated me to try to fight the depression and to find better employment and a better life +I have SDIV, WETF, BLOK, POTX, VWAGY AND GE. Any thoughts or suggestions would be helpful as I am new to dividend investing + +Edit/update: the GE is gone, added ARKF and bolstered POTX and SDIV, thanks for all the assistance so far +Hello everyone, I'm at a loss and could really use some good advice. + +Long story short, I was once an eager 18 year old with great credit that I absolutely tanked in a matter of 4 years. I racked up over 8k in credit card debt and I have a garbage car loan that I still owe about 6k on (with 11% interest rate, whoops). The credit cards are one with 7k and one with 1k. Due to the interest and high amount, I just can't get my first card under 7k and I'm starting to lose any motivation to fix this. + +Now I know and recognize this is completely my fault and I should've known better when I got the first credit card. I accept it, however I have no idea how to get myself out of this hole. I work part time (I'm a full time student) so obviously make more money would be my first solution, but that is not a possibility right now. I have been doing delivery jobs as a side gig but that only gets me so far. + +Does anyone have any ideas? I don't know if I should get a loan, file bankruptcy (probably not but I literally have no idea) or just suck it up? The interest on everything will cause it all to double but maybe that's what I deserve for letting it get so out of hand. I'm just so lost and tired, both of my parents have their own debts so the apple doesn't fall far from the tree; I don't know where else to get advice on how to begin fixing this. Thank you to anyone that can help, it's much appreciated :( + +Edit: Thank you everyone for your advice, it is giving me hope for the future now that I have some sense of direction :) + +Edit 2: thank you for the award kind stranger 🥰🥰🥰 +To all young professionals in AU/NZ, + +I have been with my current company for 4-ish years (consulting) so I have been off the market for a while and decided that I wanted to do something different; and I was shocked at how many interviews / stages are required for a company to make a decision. + +I would have thought two - three 1 hour interviews would be plenty, but in almost all of my roles I've been told / have experienced 4 - 5 different stages of interviewing (outside of testing or HR screens), incl. Manager interview, Director / Partner interview, case studies, business presentations, meet the team. This often leads to at least 5 - 10 hrs of active interview time per job, excluding any time needed to prep or do take-home case studies. + +Normally, I would just tell myself that Company X is not worth my time and continue interviewing with other companies - but every single company I have interviewed with has had a similar process. + +Is this becoming the norm for professionals? How is everyone dealing with or navigating this situation? +Some people are still seemingly in denial that this place is coming back, but it's not. The only twitter account for it is now disabled and there hasn't been a peep in a week. The money is gone, yet if anyone tries to talk about it they are downvoted or called crazy. Is it just such a giant conspiracy they are getting to all the subreddits too? I don't understand this at all. +No forewarning. I just went into a reoccurring meeting the same as every other Friday and was told I was being let go immediately. This job paid well, and even then my wife and I live paycheck to paycheck with all of our bills and trying to pay off an A/C unit. We have virtually no savings. I know I need to apply as much as possible. I don't know why I'm even really posting, I'm honestly just feeling pretty scared right now for my family. + +Edit: Thank you to everyone who's providing laid out plans, and helping me keep my head on straight as well as my sanity. I'm actively applying and trying my best to keep calm. To those that seem frustrated why I don't have savings prepared...I really don't know what to tell you. One day you've got 15k in the bank and you feel safe, the next year you get hit by a hurricane and your roof is wrecked, and your ac unit dies in FL. On top of that, we've been paying car payments since our last car died two years ago. Believe you, me - Drove my 2003 Hyduani until the wheels fell off. Shit kinda just came at us all at once, and we never really recovered. The plan always was to get rid of these ever-looming debts hanging over our head so we can get back to saving. The goal was to throw large payments at the things so we could get rid of them quickly without accruing interest. The wrench in that plan was I just wasn't expecting to be fired. + +Edit #2: For those messaging asking what I did. I worked remotely as an onboarding manager for a digital marketing agency. 40 hours a week, salary. I wasn't given a reason why I was being fired, but I suspect it was due to a client complaint that happened a few weeks prior. The onboarding client at the time kept sending me the wrong thing and got extremely worked up after I sent him an email with the words "I'm sorry, but this is not what we need". Kept sending WordPress backend access to his website when I was simply asking for domain hosting information from GoDaddy. He got mad at me and complained directly to the CEO threatening to quit. CEO flipped out and was ready to fire me on the spot, but was convinced not to by my manager. From then on, I felt weird vibes from my manager almost every day. Things started to clear up on onboarding in terms of workload, and they were having me offboard the remainder of my clients to their assigned CSM. It's clear to me now that they were waiting for things to die down before pulling the plug. I was definitely in shock while I was being fired because I didn't even ask why. They told me they're not going to be paying me for November, but prorating me for the days worked this month thus far. Doesn't feel right at all, but then again this company has a history of shitting on their employees. + +Edit #3: To those offering to help edit my resume/cover letter, and assist in teaching how to interview. You are truly amazing human beings. I don't really have the words. Thank you so much for taking the time out of your day to offer help to a complete stranger. Thank you. To those who have been through what I'm going through right now, thank you for helping me feel understood. I truly am sorry. No one should ever have to go through this... On the bright side, this thread has 100% helped my mindset, and I don't feel as mentally dazed anymore. I've taken many of your advice to heart and I intend on acting upon them. I'm glad I posted this. +What the fuck is going on? The front page is full of posts about short squeezes, market manipulation, holding the line, coordinated FUD attacks and other conspiracy-theory nonsense. I get that a lot of folks had a lot of fun and made some good money with the AMC/GME trades - but you have to realize that you caught lightning in a bottle, this shit doesn't happen all the time, and it definitely doesn't happen in markets as liquid and enormous as bitcoin. + +I don't know what this sub is or will end up being about with 3 million members- but can we all just make a commitment to not turn it into some hodl cult to bitcoin? I know we hate centralization but maybe some new moderator policies could help cut down on this kind of discourse. I'm not saying "go back where you came from" or any bullshit like that - I am pretty new to the whole scene as well and I think everyone should be welcome - doesn't mean that every sub has to turn into some off-brand WSB +So today after reading immutable X’s release that involved GameStop and some of the comments about immutable just being so open about the partnership it got me thinking. +What if GameStop is allowing immutable to be open about there involvement with the marketplace because that narrows it down to just gaming related (for the outsiders). Then one day when they are fully ready they drop the M.O.A.B. for the MOASS and release that they will be taking their shares to a new exchange they built powered by LoopRing on DeFi. + +As a disclaimer I’m stupid and thought of this when I was in the shower. After my tits got razor sharp I decided to make a post about it. So if it’s a stupid thought…. Blame my tits! +Hello reddit! Local college student here. + +I’m in a bit of a bind. A complete stranger has Zelled me a huge amount of money. Seeing this as strange, I called up Chase on the phone, to report the transaction. The girl over the phone was fumbling, acting strange, but eventually told me to go to the bank with two forms of ID. I went to my local branch, explained the situation, where me, a man working there helping me, and a woman on the phone all conversed. The man was extremely understanding, but while we were speaking, the person sent me another twenty dollars. I immediately showed them. I asked if all of this could be reversed as I don’t want to hold a strangers money, but by the time I was able to do anything, they filed a dispute saying the transaction was unauthorized. Chase has now frozen or temporarily restricted my account because of this, even though I had no idea what I had done wrong. The woman over the phone was talking over me, as I was trying to dig for an answer as to why this happened. Funnily enough the person only reported $500 being unauthorized, but I filed a dispute asking to give the other $520 be returned to the sender. I’m quite young, only 19 years of age, and I do receive financial aid for college, which comes in the form of a check. I feel sick to my stomach, and like I can’t explain it to anyone, my parents aren’t the most understanding folk, so my questions today are: + +Is there any way for me to cash my check while my account is frozen pending this investigation? + +Can I open up a temporary account to use while this investigation goes on with Chase? + +What would be the best course of action to get my account back to its regular status as fast as possible, so that I may use my debit card again? + +Thank you so much to anyone and everyone who reads this. + +Edit: Called today and they said they can’t do anything until the funds are removed. And that my account is frozen to protect me because the scammers might be going after my account next, (which makes sense.) Thank you everyone who’s been informing me on the issue, I’ll go heading to open up a new bank account soon, but firstly today I’ll be speaking to a branch manager about what I can do. +I want to draw people’s attention to what I’m calling the “penny stock rush” and the huge potential it represents for those of us able to see it. + +Coins in the Top 10 get the most attention - and I’ve observed huge money pumping into coins that have a “perceived” low entry point - iota, xrp, ada. + +Psychological small investors think they are getting a better deal and can make a lot more money. Whales know that people are thinking this, so they pump billlions into these coins which lights the fire to bring the masses - like a moth to a light. + +Stellar is primed - it’s now a top 10 coin with the lowest perceived entry point by a long shot. Combine that with the fact it’s backed by IBM, Wells Fargo and has just announced the FairX app on the horizon. + +If there is a top 10 coin that is going to explode in Jan it’s Stellar. Don’t say I didn’t give you the heads up, I don’t see a more obvious investement for massive returns. +If this drawdown shows us anything, it's that many companies are managed terribly and don't deserve your money. Airlines, hotels, cruise lines aren't able to survive the next 2 months without bailouts. + +Now their headwinds are strong, but where's all their profits from the last 10 years? With most of them it was plowed into share buy backs. Some airlines spent 97%+ of their profits right back into share buybacks. + +So we have all these companies right now with their hands out. Unable to survive 2-3 really bad months. These are companies that've made sky high profits for years and years but have managed themselves in a paycheck to paycheck way regardless. + +We need to stop. We can't invest in companies that are completely fiscally irresponsible. Do not reward companies that can't stand 2-3 months of pressure without begging for a bailout. As far as I'm concerned they can go straight to hell for being so irresponsible. + +Invest in strong, smart companies that have cash on hand, that can stand a few bad months, that haven't spent all their profits on share buybacks. Find companies that aren't running to Washington with their hands out. As soon as you see them begging for a bailout within weeks of a crisis, they should be persona non grata to us. We as investors need to be smarter and hold these companies to account. +The recent debate on this sub has been whether SCHD or JEPI will be the better long term hold. I backtested the performance of each here’s what I found. +If you invested $1000 into each ETF at the beginning of 2019 and reinvested dividends, here are the results: +JEPI = $1,492, 8.5% average yield +SCHD = $1,791, 3.5% average yield +DIVO = $1,620, 5.5% average yield + + +The underperformance of JEPI over a longer period IN AN UP MARKET is apparent here. But how does it act in a down tape? From analyzing drawdowns, We can see that JEPI tends to hold up better in a bear market because of the covered call premium, as you would expect. DIVO performs somewhere in between the two. + + +TLDR; Most of the time, SCHD outperforms on the way up, and JEPI outperforms on the way down as well as in a sideways market because of its high yield. DIVO is somewhere in between. They are all good investments but their allocation in your portfolio should be determined by your time horizon, financial situation and risk tolerance. There is no one shoe fits all. +Dear Apes + +I am watching a documentary on Amazon Prime called "The Inside Job". I have not finished watching it, I just stopped it to run over to my laptop and check something. + +In that documentary, the reason banks were able to do all sorts of wacky bullshit - First selling **collateralized debt obligations** (CDOs), which were all the bad mortgages packaged into a high quality McHappy Meal, then later betting against CDOs - was because of essentially bribing regulatory bodies to give them a high rating. + +In the movie the big short, this is the part where they go to the lady who "Is blind to the actions of wall street" and also "Can't see because of her eye problem". This is the part where Steve Carrel talks to her and starts shitting his pants. + +So in order for these shitty mortgages to get good ratings, Banks bribed/paid/made deals with **Standard & Poor's Global Ratings**, **Moody's**, and **Fitch Ratings**. + +As soon as the bribery got put into play to get higher ratings, these agencies saw an increase in profit. + +So, I stopped the documentary, ran to my computer, and loaded up the old google. + +You're Welcome. + +[https://youtu.be/T2IaJwkqgPk?t=3322](https://youtu.be/T2IaJwkqgPk?t=3322) + +&#x200B; + +https://preview.redd.it/jqdb4f3p7qw61.png?width=1040&format=png&auto=webp&s=df8ccce3e6a3fa0f5cd9a2b21b746d45692f85c9 + +As you can see in the above graphic... Something happened in late January that caused the price of Moody's and S&P Global rating agencies, to suddenly start trending upwards. They were down 10% and then from Late January, suddenly saw an increase of performance of about 25%. + +I could not find Fitch for comparisons + +So if I invested $1000 into Moody's or S&P, I'd have made back at least $200 (20%). What was the best date to guarantee that bottom investment that would continue to climb? What date was the bottom of the rating agency dip? + +January 28th, 2021 - Spike day. + +Now, lets look back as this is just year to date. + +&#x200B; + +[Moody Blues, Red is SPGI](https://preview.redd.it/8mshl6d99qw61.png?width=1919&format=png&auto=webp&s=bcb73a4e1e979793b1506c4c9686f9fa07d01792) + +Something is up. + +The new above graph is a zoomed out picture. You can see that the rating agencies had this hill that was coming down. Then, Jan 28th and the initial squeeze that was RH halted. Suddenly, Rating Agencies became super sexy and the stock went up 20%-25%. + +Coincidence? I think not! I think smarter apes need to look into this. Maybe there is another factor in play. Biden, Politics, The Economy... + +But what if Robinhood was put under pressure by EVERYONE on Wall Street and we really put their dick in a blender that day, but didn't know about it? What if they have been having late night meetings since late January? What if they are now bribing and doing everything needed to get good ratings on investment products that are super toxic, but matured in toxicity too fast thanks to our squeeze? + +TL;DR - Smarter apes need to look over the data. Smoother Apes - Need to watch "Inside Job" on Prime and notice that during the 2008 recession, banks bribed rating agencies and those agencies saw a rise in stock. Same shit is happening again. BULLISH. + +\--------------------------------------------------------- + +Part 2... Basically... LOL + +Edit: I added more thoughts and made this thing longer. Yikes! + +I am no u/Rensole, I am no [u/atobitt](https://www.reddit.com/u/atobitt/), I am no genius ape. I think those guys need to look into this, and using their bigger brains, connect any dots, if there are any. + +Basically I am suggesting that ratings agencies are seeing an increase in business/profit because our hedge fund friends are paying them handsomely for good ratings. That's how rating agencies made billions in the 2008 crash. + +Why would rating agencies need to be bribed/bought off? What is the underlying asset that is worthless, which requires going to an agency and paying them for a better rating? I sent them an email and we'll see what they say in response. Just asked what's popular right now. What the hot new thing is. + +I think this has less to do with Hedge Funds and more to do with banks. Specifically bankers. Hedge Funds are a group of investors that pool their money together, and ideally make returns on their investment, by long/shorting the market (among other things). Basically that's a Hedge Fund. Bankers, specifically investment bankers make lots of money. In 2008, Investment bankers created a crisis by selling CDOs as an investment product. That later fell apart because of sub prime lending. With those delicious tendies, they bought nice stuff, sure. But your local bank only insures X amount. In Canada, a bank insures only $250,000 max. You need to put your money somewhere safe. So you invest in the market. You buy individual stocks, sure. But you also invest in hedge funds. Which Hedge Fund would you invest in? The best, right? Who is the best out there... Citadel. Citadel has the best reputation in the financial community. + +So you're a rich banker, maybe even CEO of a bank. You give your money to the guy with the most expensive apartment in New York City. He knows what he's doing, he's so rich, he lives on Park Ave. + +You're not just a lonely rich banker, you have a community. Globally. These are the guys staying up late at night on the weekends. What is going on, that all these people are up all night on the weekend? + +The purpose of a ratings agency is to assign - what is believed to be an audit - of a corporation's or government's debt. So Canada got downgraded last year by Fitch from AAA to AA+. A ratings agency would be needed for rating bonds. Who is offering bonds? Lots of corporations! Bank of America, JP Morgan, Goldman Sacks, Citadel did $666m bonds. + +You know who also sold some bonds recently? Donald Trump. 1/3 of his portfolio is a 30% stake in a CMBS - Commerical Morgage Backed Securities - with Vornado. Vornado did some re-financing, and that meant a windfall of $600m for Trump ($1.2B all together) his CMBS is rated AAA. + +[https://www.bnnbloomberg.ca/trump-scores-617-million-of-cash-with-vornado-from-tower-bonds-1.1597650](https://www.bnnbloomberg.ca/trump-scores-617-million-of-cash-with-vornado-from-tower-bonds-1.1597650) + +So my smooth ape brain understands that that bonds and MBS/CMBS are rated by corporations like Moody's. I understand that banks issued bonds. I understand that even Trump is issuing bonds on his CMBS. I understand in 2008 the bad CDOs that banks sold to people, were known to the banks and that's why the banks bet against themselves. In that same spirit, the banks are aware of what is going on, that we do not know as the public. They're up all night on the weekends. Possibly paying to have higher ratings on certain products. + +Is everyone gathering liquidity for a massive purchasing of assets, once a market collapse occurs? + +Imagine you're a bank. You know shit is going to hit the fan, your business is going to take a big hit. What do you do before that happens? What all CEO cowards do, sell! One investment banker during the great recession of 2008, made half a billion in the 12 months leading to the market crash, by selling his stock in the company. So we sell. Do we sell as an individual? Or... Do we try to get more money? I would absolutely - knowing that shit is going to hit the fan - sell bonds in my business in large enough volumes. Investors and others buy those bonds. I need a good rating, and bribe Moody's instead of letting them look through my books. Now the business has liquidity, cash. Investors, have a piece of paper probably worth nothing soon. All their money is in my pocket. What do I do with that money? You'd think bonuses, but JP Morgan froze raises and bonuses were lower for Bank of America. + +[https://www.bloomberg.com/news/articles/2020-11-30/jpmorgan-traders-set-for-up-to-20-bonus-jump-after-record-year](https://www.bloomberg.com/news/articles/2020-11-30/jpmorgan-traders-set-for-up-to-20-bonus-jump-after-record-year) + +[https://www.efinancialcareers-canada.com/news/2021/01/bank-of-america-bonuses-vesting](https://www.efinancialcareers-canada.com/news/2021/01/bank-of-america-bonuses-vesting) + +So banks offer bonds... Need Liquidity... Freeze pay in some cases... Bonuses are meh... Rating Agencies have higher earnings... + +Maybe the question is leverage. + +During the 2008 recession and the lead up to it, investment banks had high leverage. So for every $1, they have $15 leveraged against it. So if they had $2, they now actually had $30. But if they lost $1, then that leverage is $15 and $15 is wiped off the books. + +**OKAY. I think I got it...** ***Leverage ratio*** **is part of the equation** + +[https://youtu.be/T2IaJwkqgPk?t=2139](https://youtu.be/T2IaJwkqgPk?t=2139) + +Follow me into the rabbit hole for a moment... + +Bank of America currently has a leverage ratio of 9.84. This means that for every dollar BoA has, it has borrowed 9.84. Borrowed Money vs Bank Money. + +[https://csimarket.com/stocks/singleFinancialStrength.php?code=BAC&Le](https://csimarket.com/stocks/singleFinancialStrength.php?code=BAC&Le) + +The Pandemic allowed Banks to borrow more, though this example of the SLR or Supplementary Leverage Ratio that banks need to follow post 2008 crisis. Any ways, the government offered SLR relief, allowing banks to increase their leverage. They can borrow more money. + +[https://www.bloomberg.com/news/articles/2021-03-09/banks-press-fed-to-preserve-600-billion-in-balance-sheet-leeway](https://www.bloomberg.com/news/articles/2021-03-09/banks-press-fed-to-preserve-600-billion-in-balance-sheet-leeway) + +The idea is that if a bank is over leveraged, it will collapse. So according to the documentary, the SEC was lobbied to "raise the roof" and borrowing increased to buy loans etc etc in 2008. More loans meant more CDOs back then. More loans now, means... ??? + +It's pretty simple... If Bank of America, is only allowed to have a limit of X... Lets say the ratio cannot exceed 10... They're at 9.84... If they take on more leverage... They cross into that 10 number ratio area... But.... If they sell bonds.... If they add $15 billion to their assets... In theory... Their roof is increased by another... $147,600,000,000 or so? + +Bank of America made Net $17b in 2020. Raising $15b is like doubling their net revenue for 2020. + +[https://d1io3yog0oux5.cloudfront.net/\_193a0c09ad0bfe7020b2c883716216c5/bankofamerica/db/867/9129/proxy\_statement/BAC\_2021\_ProxyStatement.pdf](https://d1io3yog0oux5.cloudfront.net/_193a0c09ad0bfe7020b2c883716216c5/bankofamerica/db/867/9129/proxy_statement/BAC_2021_ProxyStatement.pdf) + +So on the surface... $15 billion doesn't sound like a lot for Bank of America. Big bank raising liquidity. Yup. They're raising it, to allow themselves to borrow more money. Why would they need to borrow more money? **MOASS** + +You'd need to keep Moody's happy as things unfolded. Pay them to not change your ratings. Sort of like how for $10,000 you can eliminate all negative Yelp reviews on your restaurant. The banks are all in the same boat. + +Bank of America after offering $15b, can now buy $147b in loans. They increased their leverage. All these banks offering bonds did so. + +I'd like to see smarter apes look into Rating Agencies and Leverage Ratios. I think something might be there. + + +**EDIT 2:** I just want to add that causation does not equal correlation. Eating Ice Cream in America does not kill Indian people in India in the summer. Just because you can link two things to an event, doesn't mean they are connected. Heat in summer increases sales of ice cream in America, and heat in India leads to many more cases of heat exhaustion than normal. + +In that same spirit, we **cannot** truly draw anything from this DD. The only way we can draw anything from this observation, is by having smarter apes look into it. It could be an indicator, or it could be coincidence. Maybe we need more data later down the road. Perhaps in hindsight in future, when all the facts are out, this could have been something - or nothing. +Your markets are run by bots. Now your /r/Asx_bets daily threads are too. + +Read the [wiki](https://www.reddit.com/r/asx_bets/wiki/index/) people[.](https://styles.redditmedia.com/t5_2hqqj5/styles/communityIcon_41pmnaqp4zn41.png?width=256&s=59bf38425fb316fdcba30365b272a5f19352f370) + +[Posts relating to the "Is /r/ASX\_bets about finance or effect your mental health?" etc will lead to a ban of the mods chosing. You have been warned.](https://www.reddit.com/r/ASX_Bets/comments/l0l9et/the_does_asx_bets_effect_your_finances_emotions/?utm_medium=android_app&utm_source=share) + +Automoderator may provide "Guidance" for Lazy and zero effort posting. + +[We have an active official/unofficial discord. It's open to all discussions, stonks related and non-stonks related.](https://discord.gg/wsNDGTf5QH) +(Source: I work for a bank but I don't share identifiable information such as where I work) + +I think the main reason people want to close their CC accounts after paying it off is that they don't want to feel tempted to spend again once it's paid off. + +However, for people worried about this, your bank may actually allow you to close the account while you pay off the balance, essentially turning the account into more like a personal loan instead of a revolving line of credit. + +The bank I work for does this, all customers are required to do is call the bank and ask for the account to closed. All cards are permanently cancelled and access to the account can't be restored. If the customer wants access to a credit card again they would have to apply for a new Credit Card with a fresh credit assessment. + +Once it's closed, the customer continues to receive the monthly statements until the balance reaches zero, after which statements stop and a finalisation letter is sent. + +Doing this can help if you feel particularly worried about the temptation to spend credit again once it becomes available, which is one of the biggest obstacles some people face with credit cards and one of the reasons why they've been so lucrative for banks in the past. + +**One final point:** Banks in Australia consider credit card closures a sign that you may be applying for a Home Loan with another bank. This is because many banks make it a condition that a customer closes their credit card accounts before a mortgage can be approved. + +If you get asked why you're closing your credit card, be very up front that you are doing so because you *want to get out of debt and not take on any more debt.* If you're vague about your answer, you might find yourself getting transferred to "someone who can help you with that" only to talk to a home loan salesperson. + +------- + +Edit: Just in case it wasn't completely clear in the post, you would have to ask your bank if they allow the account to closed with a remaining balance. + +Also important to realise that all the same rules still apply to making payments each month. You have to continue paying your monthly bills on time within the billing period or you will face the same penalties and fees that you would if the account were open. You will also continue to get charged interest as normal. + +Edit2: On the chance that your bank doesn't do this, an alternative option is to request a Credit Limit Reduction as you pay down the debt. This option is a bit more involved and you may find that you can only reduce your credit limit in $1,000 increments, so for example if you have a $15k credit limit with a $9.5k balance, you may only be able to decrease your limit to $10k until you pay off more debt. Bit more of an inconvenient option to have to do this every few months or so, but one to consider if you're really concerned about your spending habits. +https://content.ftserussell.com/sites/default/files/russell_microcap_deletions_-_2021.pdf + +Ranking day when the preliminary Reconstituion portfolio was ranked was back on May 7th. At that time GME would have made the Russell 1000 cut by market cap. The remaining Russell Index final announcements are today and next Friday. + +https://www.ftserussell.com/resources/russell-reconstitution + +I am thinking the Russel 2000 official announcement showing GME exiting the Russel 2000 will happen today, and the announcement adding GME to the Russell 1000 will be either today or next Friday. All of the ETF underlying stock buying/selling will happen on Reconstition Day after market close June 25th, where between 3-5 times the daily trading volume gets traded. That’s one volatile trading day. Some wrinkle brains have commented on implications on GME already. Buckle Up!! +[Netflix](https://www.cnbc.com/quotes/NFLX) reported [fourth-quarter earnings](https://s22.q4cdn.com/959853165/files/doc_financials/2021/q4/FINAL-Q4-21-Shareholder-Letter.pdf) after the bell on Thursday. The streamer beat on both the top and bottom lines, but shares plunged 11% in after-hours trading. + +Here are the key numbers: + +* **Earnings per share (EPS):** $1.33 vs 82 cents expected in a Refinitiv survey of analysts. +* **Revenue:** $7.71 billion vs $7.71 billion expected, according to Refinitiv. +* **Global paid net subscriber additions:** 8.28 million vs 8.19 million expected, according to StreetAccount estimates + +Read more: [https://www.cnbc.com/2022/01/20/netflix-nflx-earnings-q4-2021.html](https://www.cnbc.com/2022/01/20/netflix-nflx-earnings-q4-2021.html) + + +1. Markets are predictable, the [**efficient market hypothesis**](https://www.investopedia.com/terms/e/efficientmarkethypothesis.asp) **(EMH) is wrong** in general or at least it is wrong on short time scales (from minutes to several days). There are many inefficiencies in the market that can be exploited.  +2. To trade successfully we don’t want to simply react to the market, we want to **predict** its behavior. +3. The majority of the methods (if not all) that try, based on a single asset time series, to identify entry and exit points are reactive and not predictive. They, at best, identify turning points (low and highs for example) in the time series but they are **always late** (delays due to noise filtering is a common cause) and have no predictive power. This also applies to pair trading.  +4. Understanding a related group of assets as a whole is a much more powerful trading strategy. This approach aims to capture changes of multiple assets relative to the others in the group. It is possible to find simple predictive metrics of performance that allow ranking **the assets in an order based on the predictive metrics**. The metrics then can be used to make a prediction on the important future behavior of the assets, again as a whole (for example relative returns in the near future). It is fundamental to demonstrate statistically that the predictive measure can indeed predict the asset's properties in time.  +5. By focusing on the behavior of the group instead of single assets we make a trade-off between capturing the price action of a single asset and how a group of assets organizes as a whole. This means we cannot predict the exact return of an asset (or in some cases even the direction) but we can **identify winners and losers relative to the group**.   +6. Start always from the simplest and intuitive metrics and the relationship between asset properties (the input data is mostly price and secondarily volume) and the quantity we want to optimize (cumulative returns, Sharpe, Sortino, and similar). Add complexity with caution (algorithms with more than 2 parameters are not ideal), **simple ideas from Machine Learning are fine**, black-box systems like intricate, multi-layers Deep Learning algorithms are not.  +7. Make the strategy **adaptive to ever-changing market conditions**. Use walkforwards methods vs static backtesting.  +8. **Continuously monitor** and characterize the trading strategy over time to identify possible problems and inefficiency and signs of alpha-decay. Quickly correct the problems and improve the strategy over time (after collecting enough data to make informed decisions).  +9. **Make several strategies compete with each other by “optimizing”** (using various methods) between them.  +Former quant trader here. Not involved in quant trading anymore and want to see some use made of the signals and research I've done in the past. I've decided to open source some of the python code here: + +[https://github.com/upresearch/statarb](https://github.com/upresearch/statarb) + +As it stands, I just threw a lot of old code in this repo, so it will take a bit of work to get this code cleaned up and useable, but I guarantee that a person with a little patience and experience will find some extremely valuable nuggets in here. If I have time, I'll try to start cleaning up the project a bit, but could use some help. + +&#x200B; + +Edit after seeing the replies: Do not overly focus on the signals. Things like the optimizer, slippage model, risk model etc. are crucial to a trading strategy and that's where a lot of value is in the code. Alpha is sometimes the easy part. +[https://www.businesswire.com/news/home/20220305005035/en/](https://www.businesswire.com/news/home/20220305005035/en/) + +"This decision flows from our recent action to block multiple financial institutions from the Mastercard payment network, as required by regulators globally. + +With this action, cards issued by Russian banks will no longer be supported by the Mastercard network. And, any Mastercard issued outside of the country will not work at Russian merchants or ATMs." + +"We don’t take this decision lightly. Mastercard has operated in Russia for more than 25 years. We have nearly 200 colleagues there who make this company so critical to many stakeholders. As we take these steps, we will continue to focus on their safety and well-being, including continuing to provide pay and benefits. When it is appropriate, and if it is permissible under the law, we will use their passion and creativity to work to restore operations." + +The Purchase, New York-based company said late Tuesday [in a filing with the Securities and Exchange Commission](https://d18rn0p25nwr6d.cloudfront.net/CIK-0001141391/e33452e6-2006-4390-8bbd-6c762062e723.pdf) that about 4% of its annual revenue derives from business related to Russia and about 2% derives from Ukraine.  +TLDR: It's baaaacckkk!!! The signals are firing up again for another gamma squeeze! + +***BIG Edit:*** So excited to see how much this took off in the last few hours! I didn't properly get the chance before, but I'll tell you now why I'm so excited... + +As you can see, for the last few months I've been anxiously pulling my options data/running my algos every day, and disappointed when I haven't seen that gamma spike since the beginning of March. I've seen other tickers get their spikes, watched AMC's spike for like 2 weeks straight, but no GME.... + +Then finally last week there was a spike! And I couldn't wait to tell everyone! But it quickly went away, then the three day weekend happened, and was like... was it just a fluke? + +Then today, u/Criand wrote an epic post that put some pieces together with my gamma spikes and the FTD cycles. I ran my algos between meetings this afternoon, and there she was, that beautiful golden spike came back! I couldn't wait to run onto the internet to tell all my friends! Cause lord knows my husband doesn't get excited about this stuff! And my two young kiddos were having some kind of crisis about cheese (understandable though). + +Anyways, it wasn't a fluke, these spikes cluster together for the big ones. I'm excited.... I'm jacked.... I can feel it.... I have a hard time understanding all the dd, but I understand this work that I've poured a lot of myself into, and it's telling me our chances of that MOASS just went up by a lot... like a lot.... + +I have backtested my method using various machine learning/deep learning methods, and the chances of significant increases (5%+) with one of these spikes is around 70%, and goes up to \~80% with multiple spikes. Chances of big increases (10%+) are around 50%, and in GME's case... well... it likes to go BOOM! + +I don't put all my faith into these machine learning methods though, probably the nature of an actuary. Machines get you half way, and you have to read the numbers to make calls for yourself. My machines are telling me the conditions are ready.... the other dd is telling me we're ready... and most importantly for every individual ape to feel for themselves, **my gut is telling me we're FUK'ING READY!!! LET'S GOOOOOO!!!!!!** + +**Original Post** + +So excited to share that another gamma neutral spike started today, up to $9,233 (up from the $7,387 spike last week)! + +See this post from today by u/Criand about the interesting relationship between the T+21/T+35 cycle, the gamma neutral spikes and the fuk'd level of hedgies: [Gamma Spike and T+21/T+35 Cycles](https://www.reddit.com/r/Superstonk/comments/nqbera/things_are_shockingly_similar_to_the_february/) + +Graph below in log base 10 so you can see this beauty: + +[GME 1\/4\/2021 - 6\/2\/2021, Log Base 10 Scale](https://preview.redd.it/3as9umpc5x271.png?width=910&format=png&auto=webp&s=3829e979f085bac25fb0b00992d14d45e4fc5505) + +In the middle of work, but too excited not to send this out. I can comment more later, but yesssssssss gammmmmaaaa!!!!! + +&#x200B; + +copy/paste explanations from prior posts below for more explanation: + +My work is built on the idea that the market is largely unpredictable, but one particular kind of behavior is certain - hedgies like to hedge. It's written into their algorithms. Specifically, they like to delta hedge and gamma hedge. This work tries to profit on this one particular type of buying/selling behavior. I have a little data dictionary at the bottom if you need a refresher on terminology. + +* Delta Neutral: price that creates a total market delta of 0 across all GME options (all expiration dates) for a given date. General observation is it acts like a theoretical floor (although the price can go lower, as seen in February). My theory is that as the underlying approaches the delta neutral, call options go on sale. As people buy call options, MM have to buy the stocks which increases the price. Most stocks like to hang out above the delta neutral, some dip below and create pressure that can shoot them back over the delta neutral (like what happened in February), and some like to hang out below (like the VIX). +* Gamma Neutral: price that creates a total market gamma of 0 across all GME options (all expiration dates) for a given date. General observation is it acts like support/resistance between the delta neutral and the underlying, and typically bounces around between the two prices for most plan (like we have seen with GME since April). It also goes crazy in periods of high volatility (as you can see by the infinite spikes). +* Max Pain: price that creates largest loss for option buyers and largest gain for option sellers. This is a controversial topic because underlying prices can drift towards this point. There are typically large areas around the max pain that doesn't make a lot of difference to the profits for option buyer/sellers. It can be used to help gauge where the equilibrium of the options data is, but there is often a wide range around this price point that does not meaningfully affect MM profits. + +Disclaimer: I'm just an actuary that likes to play with options data and builds models to trade for a hobby. I have no experience trading professionally or offering any advice to anyone. Nothing is certain in trading. It's all probabilities and what increases/decreases your chance at a profit. This is just one indicator for one type of price movement, and there are many other indicators that can help you make investment decisions. +They've been just going up and up and there's plenty of growth... +DPZ + +How did they manage this when sister companies like McDonalds, YUM, Pizzahut, etc. all have been having a shitty ride? +Allow me to get evangelical about my love for BOG. If you just want a quick rundown, check the lightpaper at [bogtools.io](https://bogtools.io/lightpaper.pdf), otherwise, allow me to wax lyrical on why this is the best new token on BSC right now. Disclaimer: I hold and stake BOG since day 1 of the project and am still buying and staking now. + +First off, the usecase and tokenomics of this project mean that BOG is absolutely not a typical BSC shitcoin. However, it will revolutionize the BSC shitcoin trading game. Do you love to trade garbage like HarambeDoge Protocol, PonziBomb, SafeBetelgeuse, and RUGIN24? Is your strategy for trading these to get in and out like a thief for a quick 10x before the hype dies or the devs disappear? If so then you'll definitely want to read on. + +Bogtools is a suite of dApps for use on the Binance Smart Chain, centred around oracles that can be deployed for any token on the BSC, regardless of whether they are listed on any exchanges. + +The first app, released a few days after launch, was BogCharts. This uses the oracles to display a price chart for any token on BSC. This is neat not only because many projects do not have these until they are listed in places like CMC and CoinGecko, but also because the data shown is gathered directly from the blockchain, instead of an exchange ledger. This gives more accurate and up to date charting than is available elsewhere for BSC tokens, and allows developers of new projects to have an accurate price chart from day one. + +The second tool to be released was a verifiable random number generator (RNG), which uses a cryptographic function to prove that the number has not been tampered with in any way. The fact that this can be audited and proven to be reliably random means that it can be implemented in other projects that require it, such as casinos and lotteries, or anything that requires chance to function. + +The third (and most important) tool is slated to arrive on or before the 2nd of April: [limit orders](https://imgur.com/a/dZgeyzf) for Pancakeswap pairs. This will be implemented on the Bogtools site, and will allow you to create limit buys and sells on assets tradeable on Pancakeswap. This will be tested for reliability on 4 (four) token pairs to begin with, then rolled out to all assets shortly thereafter. Stoplosses will follow shortly after that. This is a huge deal for anyone who trades BSC shitcoins. Currently if you want to trade a newly created token, all buys and sells must be processed manually. "What if saferug moons while I'm asleep?" will never be a question you need to worry about again. + +The devs have stated that this can be improved upon in the future to activate upon a variety of specific triggers such as a dev wallet removing liquidity. You will be able to setup an order to sell all of your saferug *in the same block* as the trigger activity takes place. Meaning that you will be able to trade these ponzicoins and rugmoons with **significantly** reduced risk. If you as a reader of r/cryptomoonshots cannot see the immense value in this, then I don't know what to tell you. + +In order to implement these dApps, the user must pay a flat fee (pegged to USD) in BOG. The fees will then be distributed to stakers, used to pay the gas fees, and sent to the development team in order to grow the project. The fee for limit orders will be $2.50, paid in BOG. + +Currently, the token has a 4.5% fee on all transactions. This is sent directly to stakers' wallets. The devs have stated that this will in time be dropped to 0, in line with the rewards from dApp users rising. This is being done with the intention of keeping the staking rewards healthy, and has led to the kind of devoted community that cheers any and all price action because it pays stakers handsomely. Check out the Bogtools Telegram on a day where crypto as a whole is correcting and you will see no panic. + +"So wtf is bogged.finance?” you ask. This is where the project gets really cool IMO. Bogged is an ARG which incentivises users to hold and stake BOG in return for rewards in an ever-evolving game which is currently in its very early stages. The pregame had players coordinating across every social platform to reveal clues hidden inside scrambled audio clips, decode cyphers hidden in promo videos, and scrabble around in Minecraft servers looking for a password, in order to start the countdown to the real game. It really brought out the best in the community and it makes me very excited to see where the game goes. The two material things that have come out of the game so far are the Sminem NFT's and the NGMI token. + +The NGMI token is given to you whenever you sell BOG. This token cannot be traded and is intended as a mark of shame that will forever mark your wallet as unclean. It is speculated that this will have some effects later in the game, and potentially in the governance protocols that will be introduced later in 2021. + +Sminem NFT's were available to the first 500 people to claim them. However, you had to stake for 24 hours to get the chance to claim him, and holders of NGMI were barred from claiming. + +To have no NGMI, a Sminem and an untouched stake is considered a huge badge of honour in the BOG community. Who even knows what will come next, but the devs have stated there will be some more features to the ARG coming very soon, in addition to another round of 250 Sminems for those who were unable to claim one last time around. + + +So, on to the important questions: + +Q: When moon? +A: BOG has its biggest feature being released in 6 days. There is over $250k in the marketing wallet. Confirmed mentions from some major crypto YouTubers coming up imminently. Code is original, useful and innovative. Market cap is still very small at $16m. No presale, fair distribution. I won't say it will definitely moon but the ingredients for moon are all here. Just don't expect a quick 10x overnight, as the liquidity pool is very deep thanks to all of the staking taking place. + +Q: Who are the devs? Do they inspire confidence? +A: There are 2 lead devs, John and Luke. Luke is self-doxxed (socials, face and voice) and John plans to do the same after Bogtools is incorporated. They have done 4 (four) discord AMA's in which they have come across as intelligent, motivated and trustworthy. You can find these on [YouTube](https://youtu.be/vFdfDuz9Fqk) and listen for yourself. + +Q: OK, I have BOG. Should I stake it? +A: Only you can decide this. Be aware of the risks of impermanent loss (IL), but also be aware that early stakers have already doubled their stack. It should be worth it if you set and forget, but may not be worth it if you plan on unstaking soon. Ask on Telegram and you will get some well informed, yet weary answers (this makes up a good chunk of the debate on there). + +Q: What is the major FUD against this project? +A: Firstly, that ETH fees will decrease to the level where BSC becomes irrelevant. Devs have answered this by saying that if ETH fees are lowered to BSC levels, they will launch Bogtools for ETH as well. + +Secondly, the question of "if this is doable, why haven't Pancakeswap implemented charts and limit orders themselves?" Bogtools has first mover advantage here, and if Pancakeswap was able to do this, they would have done it already. Seeing as their code is not original (it's a fork of Uniswap), there is little likelihood of them implementing this in the near future. + +As of right now, the market cap is $16 million, which IMO is very small for what this project may deliver. This is not a clone or a fork, it's an original and innovative project and a real boon to the whole BSC. It should go far. + +ANSWER ZE CALL + + + +TL;DR: BOG gud +Wife started a new job, about a week later we received checks from a bank that is nowhere near us, in her name. We looked further into it, her name and address were on the checks with a CA phone #. We called the bank and reported it. We started getting Robinhood notifications in he re name shortly after. About a week ago she was having a conversation with a woman from HR and brought up the check thing. The HR woman told her she is 1 of 4 new employees that reported the same issue. This has never happened before, we are clueless. The bank said they are handling it, and they placed a freeze on her name, but I feel like there's more to take care of. Also, the payroll guy at my wife's new job is completely dismissing the issue, pretty much saying it's not his fault. Any advice would be greatly appreciated! +Hello, so for background i make about 160k/year, and own a house that is in shambles in full with no mortgage on it (inherited). + +I need to borrow about 150k to repair everything (the house is not remotely livable, has mold, no bathroom, busted kitchen etc) - ubank said they will loan me up to 100k with no issues, but for anything more i need to provide builders quotes that add up to 150k. + +Am I crazy thinking this is a ridiculous requirement? do they really expect me to contact numerous builders, some who wont even be ready to build in 3-5 months due to dependencies and compile them into a list? With my fairly high income, and using 100% of the houses value as equity it feels like this is a ridiculous ask. + +Big 4 banks didn't ask for this but their rates are about .25% higher, not sure what to do +Apologies for the morbid post, I’ll try to keep it brief. I’m looking for advice on how to manage a personal crisis while trying to hang on to my fatfire job I’ve worked my whole life to get into. + +I work for a big tech company in a highly specialized/technical role that requires a good bit of brainpower and effort in order to produce output/results. + +Unfortunately due to personal reasons related to grief and loss and a family member who was recently diagnosed with a terminal illness and given 1-3 months to live I’m scrambling to figure out how to take time away from work to focus on my personal life. + +I can take PTO but to be honest I’m thinking I may need to take a few weeks away from work, maybe even a month or two. + +I’ve never even taken a sick day so I don’t even know where to begin. + +Does short term disability cover depression/grief? Can I be fired for that? Should I just work remotely and try to ride this out? + +Sorry to be so morbid my head is unclear right now and I’m trying to make sure I hedge a bit and do things the right way if there is a right way. +I have some basic programming knowledge, a decent amount of stock trading experience, and am trying to work my way through QuantConnect's documentation, but am finding some of the math related stuff to be impossible to understand. + +Linear regression, Fama-French Multi-factor model, stochastic processes, Black Scholes Merton Model, etc. Most of this stuff I try to read but give up since I don't understand it in the slightest, and don't even understand how to decipher the symbols used to represent the formulas. + +Is understanding this unreasonable without advanced degrees, or are there perhaps YouTube channels that could help me understand this in a more palpable way? +I'm pre-coffee so this isn't as articulate as it might be, but here goes. + +Obviously I'd love to get rich from crypto like the rest of you, but actually I'd support this movement even if it lost me money. When all's said and done I really believe in the idea of P2P decentralised networks as the building blocks of a "next generation" kind of internet, over and above the idea of digital currency. What we're seeing in blockchain isn't just "money but you store it online", it's a radical shift in the way we share, store and structure data. + +That might sound dry compared to dolla bills, but the last time this happened we got social networks; we got the ability for anyone with an internet connection to publish their own content without having to win the backing of record labels and Hollywood studios (e.g. Youtube, soundcloud) - that's *huge*. We got crowd-sourced news networks and free online universities and the chance to start an e-commerce empire from our basements, where previously you either had the venture capital for bricks and mortar and staff and a stock profile... or you didn't, and you worked there for someone who did. The time before that we moved from libraries to search engines, from letters to email and SMS, and from maps to GPS. 70% of couples in the western world now fall in love online. Our “network society” is a product of the data revolution the major sociocultural changes it's bringing about. These new data structures are creating happiness and wealth and wisdom and new careers and opportunities and skills and real, tangible "happily ever afters" for millions of people around the world. That's important. More important than lambos. + +So yes, I want the bull market to return because I'm human and I like money. But more than that I'm all in on the idea of ever greater data structure innovation whether we're talking crypto or IoT or crazy moonshots like project braingate. We're living through incredibly interesting times - like witnessing the industrial revolution run its course in the space of a few years. The consensus algorithms and hashing methodologies and P2P relationships Blockchain is giving birth to have huge transformative potential independent of whether I make or lose money, short or long term. I'm just really excited to see where this goes. If it makes me rich then that's a huge perk. For me this really is about the technology, and the value of that tech is disconnected from the market movement right now. (it's not like the tech got 50% worse overnight, right?). This technology is important and useful and powerful and significant and I'll keep learning about it and talking about it and investing in it and backing it until it either comes to fruition or evolves into something even more exciting, because the only thing I could regret is not taking part. + +So it's certainly not an unpopular opinion to say that Robinhood is a flaming garbage barge of a company, but I know there are many people out there, myself included, that still use it simply because the UI is so seamless and intuitive compared to the major brokerage firms. I have a Fidelity account that I opened early in 2021 with the intention of transferring my portfolio to, but after putting \~20% of my funds in to test it out, I couldn't convince myself to make the switch. Their mobile app and website are clunky and off putting to use and their desktop app, Active Trader Pro, while extremely powerful is archaic, unintuitive, and looks like it was built for windows 95 and hasn't been updated since. + +A big part of investing/trading for me is the ability to quickly ascertain information and then execute on it. In Robinhood that is astoundingly easy. Information about your portfolio is immediately present as soon as you open the app, you can check the status of all of your holdings on the same homepage at a glance, watchlists are presented alongside this information in a way that makes sense, and it all just flows. If at any point I want to buy stock, I can tap the ticker and execute an order within 20 seconds. + +Fidelity on the other hand (using their \*new and improved\* UI), the homepage also shows you a portfolio line graph, however you can only view performance over the last month or year, no 1 day, 1 week, or 1 quarter options, and for some bizarre reason it measures total change in your account rather than ROC/ROI so any deposit or withdrawal makes this information useless. The price charts for stocks are harder to read and update less frequently (5min rather than every few seconds). Buying stock requires twice as many steps/clicks at a minimum. And viewing options chains and trading options in general is a nightmare. + +I am not a web/app developer so I cannot speak to the difficulty of improving these systems, but I can't imagine that with the budget these major financial institutions have they wouldn't be able to create a similar user experience that is offered by Robinhood but with a much better company backing it. And I used Fidelity as my comparison just because that is the only other brokerage account I have actively used, but I have seen the UI of TD Ameritrade and Vanguard and was not impressed with them either. +Could really use some advise, I don't have a tutor, mentor. Having moved a lot in live actually not many quality friend neither, not complaining, but I miss opinions/critics/new ideas, from like-minded people + +Male, 38 y/o, 2 year old kid... Working 70-100 hours a week. Stress is through the roof. +Not a financial/business background but I adapted and doing things ok so far, now things are changing. This is getting too big too fast. + +Business is around 5 years old, in Spain, growing at 50% per year, opened 3 shops and a workshop last year, market is demanding more that we can manage since we started. Electric vehicle related + +Now, either i sell it and start living again, spend time with the family, hopefully grow it, and be healthy (this is taking a huge toll on my health) + +Or i adapt, keep fighting for it, keep growing it... + +The first seems surrender, abandoned all i worked for so hard. And leaving behind what could be huge. Something to have a much better live in 10 years and possibly something for my kid to manage. +All this if I survive 10 years, not drama queen, i fear a stroke or something if I keep this pace much more. + +The second, i don't know how to do, i have tried to hire a manager so i could delegate some of the work, did not work as I hoped. + +Also... If I end up selling it, i fear the valuation might be low, 2022 we sold around 2 million € but with no profit as i opened 3 new locations, vehicles... And the grow potential might not be taken into consideration. + +Some different advisor told us the potential is huge, to get ready fast as we are not prepared for the work load we will have in 1-3 years, this is satisfying and exciting in part but also frustrating as i try to control/reduce my hours/stress and has done nothing but grow, with this on the horizon i really don't know if I'll make it, as much i love the job this might get me burned out. + +I know...not much to advise here, but i would really appreciate a though from experienced fellow redditors +Individual investors are currently at **\~83.3 million GME shares DRSed.** + +Current price is \~$27.6 + +Thats $2,299,080,000. + +**2.3 Billion Dollars** worth of shares are currently DRSed. + +&#x200B; + +Do you even realize how amazing that is? + +And most of the apes (me included) have a cost base much higher. + +With a rough estimate average of 40$/share (160$ pre split) that's about **$3.3 Billion invested** and DRSed. + +**Just the DRSed shares.** + +&#x200B; + +**That's roughly the GDP of some countries in Africa!** + +And that's just a small percentage of the actual share count in the hands of apes who haven't DRSed yet. + +&#x200B; + +If that doesn't make you bullish as fuk I don't know what will... + +Damn my nipples are dripping diamond juice right now! + +&#x200B; + +SHFs are fukd. + +BUY, HOLD, DRS! + +&#x200B; + +Edit: + +Thanks for the awards guys. ;) + +As this thing got some traction and has the potential to reach people outside of SuperStonk: + +**If you got interested, start your journey** [**here: The GME Masters' Guide: A DD Campaign for Apes Levels 1-20**](https://www.reddit.com/r/Superstonk/comments/njwv6n/the_gme_masters_guide_a_dd_campaign_for_apes/?utm_medium=android_app&utm_source=share) + +&#x200B; +Welcome to the Daily General Discussion thread of /r/EthTrader. + +*** + +Thread guidelines: + +- Please refrain from discussing non-Ethereum related tokens here. You are welcome to discuss altcoins in the Daily Altcoin Discussion thread. +- All [sub rules](https://www.reddit.com/r/ethtrader/about/rules/) apply here so please be familiar with them. + +*** + + Resources and other information: + +* Newcomers who have basic questions about Ethereum can find answers by visiting /r/EthereumNoobies or our Ethereum Education wiki page, [see here](https://www.reddit.com/r/ethtrader/wiki/education). + +* To view live streaming comments for this thread, [click here](https://reddit-stream.com/comments/auto). Account permissions are required to post comments through Reddit-Stream.com. + +*** + +Enjoy! + +Hello ladies and gentlemen, + +I know this might not be the right sub for it, but i’ve been a member here for some time (with another account) and got some good advice so i’m sure someone will be able to help. + +So as the title suggests I have a property for sale for about 8 months now. We’ve gotten some enquiries/viewings however no real offers on the table. At the moment the property is advertised with two agents. + +Now, the main issue that hinders sale demand is that clients are not able to get mortgages on that specific block as (from what I’ve told) banks have already given too many on that particular one and are not willing to give out more. I’ve cross checked this information with a few people in the market and all have said the same. + +The property itself is located very central, next to a train station and is in very high demand for professionals and students who want to rent. + +I would not mind holding on to it however I need the money for something else. The property does not have a mortgage on it currently. + +Can anyone think of any creative way to sell it? + +Thank you in advance +Seen a lot of hype around this company and claims about it's technology so thought I'd clear some things up. I have nothing against this company individually, but this sector is renowned for managing to hoodwink people who aren't engineers. + +**Energy from waste is not recycling**, it is at the bottom of the waste hierarchy, just above landfill. The push from gov't is towards making packaging economically viable to recycle, not making syngas from it. + +**Pyrolysis / steam cracking EfW (energy from waste) plays have been around for ages and all gone bust**. See German examples below. + +**Be highly skeptical of a company who has a new technology but doesn't tell you the process efficiency**... all I can find is references to it being super efficient. The problem with these systems is you use a huge chunk of the energy to power the reactor. What proportion ends up as H2? What is the process loss? Who will buy the syngas (is the syngas going to be burned for electricity generation? coz that ain't green and you might as well cut out the middleman and burn the waste) + +**EfW is having a bit of a rebrand** atm as it's very difficult to get planning permission for an incinerator. A new name with 'eco' jammed on the front isn't going to make green campaigners suddenly love it. + +Anyone interested should read this hilarious academic [review](https://doi.org/10.1016/j.resconrec.2018.10.038). As well as joking about all the crazy claims from pyrolysis EfW, it also gives examples of companies who tried to do this in Germany, but failed. Here is a choice quote: + +A linkage between widespread commercial failures and a lack of focus on thermodynamic fundamentals is also identified, along with an environment of indifference or ignorance towards energy balances and sustainability when these technologies are presented, assessed and financed. Though proposals to build machines which violate physical laws is not new, in a modern context this phenomenon is found to be stimulated by competitive financial rewards. The situation presents a high risk to investors and has the potential to adversely impact on societal transitions to a more sustainable future. + +Imho, turning unrecyclable plastic into new feedstock via pyrolysis has a place, but the goal of a functioning waste management system is to make that place as small as possible and focus on more thermodyamically favourable options. + +&#x200B; + +**Tldr: The technology to turn plastic into syngas has been around for a long time. This company has just put 'eco' in front of syngas.** + +Edit: [here](https://www.lowimpact.org/pyrolysis-not-solution-plastics-problem/) is a link to an article to the academic who wrote the review which uses plainer language +https://www.ft.com/content/93a5926b-792f-4e20-91a6-4eb3afb66e9c + +>PwC has resigned as auditor of fashion retailer Boohoo on concerns about the risks of continuing to work for the online group, which is under scrutiny for suppliers paying workers below the minimum wage. Two people familiar with the matter said PwC, auditor since before the company went public in 2014, had resigned within the last month. + +This story just keeps on running. +*TL;DR: Guy has a great job for many years. Gets big crypto windfall at the height of his career. Now feels like his job is pointless and trying to figure out life. Boo hoo feel bad for him. I'm such an idiot.* + +I'll keep this quick(ish) for all of us short attention span havers. I'm 35 years old, I have a career in a field where I get to be a creator (sort of a YouTuber, sort of an artist, sort of a "travel guide", sort of a filmmaker, sort of an on-camera personality, BUT I have bosses telling me the kind of stuff to make). I **was** obsessed with this job/industry for the better part of a decade. For many years I got lots of travel, nice hotels shooting in foreign locations, eating nice dinners and lots of admiration and respect from peers and colleagues. I watched my income grow from mid $30k to literally 10x that over the span of 7 years. And, fortunately, I never acquired a taste for expensive things (save for some industry gear). So that meant I was saving a LOT of my income yearly. Well on my way to FI/FatFI before I even knew about this philosophy of investing. + +In 2014, I discovered bitcoin. Please, please. I know that many here think bitcoin in a huge speculative gamble and after riding through a major UP and DOWN, you are preaching to the choir. Regardless, I love the idea of it and fell deep down the rabbit hole– reading and watching every bit of content I could find. Over the span of a year and a half I put ALMOST everything I saved into it– figuring my earnings would set me back ahead even if it tanks. (Again, I crazy/foolish I **know).** Long story short, the bull run hits in 2017, and I can't fucking believe it. Over the course of 6 months, hands shaking, I cashed out (after tax) about 2.8 million. I didn't even sell at the top. + +Around this time, I was trying to learn how to "live off the interest", get off that crazy rollercoaster, invest **RESPONSIBLY–** I discovered FIRE, and was like "holy shit" this is it! I jammed everything into a simple three fund index-based portfolio of US Equity/Foreign Equity/Bonds. + +I kept working (way less) for almost 2 years after that, but everything mentally changed. Suddenly, once the monetary excitement was stripped from doing work, all the other pluses felt...dull. Like, I can get "nice hotels", "lots of travel", "good dinners" etc... without a job now. + +I hit 3.5 million this year and have been taking a break completely from work for 9 months now. Traveling, contemplating, philosophizing, visiting friends, leaning into hobbies/pastimes and honestly trying to figure out what my life means to myself and others now that at a 3.8% SWR, after tax, I can **SPEND/DONATE** $10,000/month forever. That's my needs, wants and then some. Why would I do anything that a boss/client/manager wants me to do when...I don't have to? + +I'm at the same mental place a LOT of people get to when they hit their number. The problem is two-fold, One, I used to looove my job and it was a source of lots of excitement in my life. Hard to recreate that with just money, but I also don't feel like doing the work it takes just to get the high status stuff. Two, I don't feel like I deserve this **at all** because I got here earlier with a lucky bet on crypto. I would have definitely gotten here, but maybe in my 40s and I would have felt I actually earned it. + +Basically, it feels like I used a cheat code on my life and now I'm not sure how to make it fun again. And don't feel like I "deserve" to FIRE. This is such an unrelatable problem, but I thought this nonjudgemental community might have some insights or nuggets of wisdom. +Hello Everyone! + +Ape help ape. + +Howdy all! I've been immensely happy for the good reception this has been getting, and for all the people helping in their needs. I'm just so happy for that. Now just like I always ask, is everyone holding up okay? Still very much turbulence in the world right now, as well as personally for some. Alot of people have been having things rough. It's okay to take a breather! Maybe do a little yoga, in, out! Ahhhhh! + +After weeks of DRS transfers out the wazoo, and brokers continuing to be in a rock and a hard place concerning the Splividend, the price continues to rise slowly but surely. Most woke up to find a halt on Monday, followed by some pretty sideways price action. While some have expected the price action to be more extreme, I think the halt shows that hedge funds are still very short, and will need to cover very soon. As the Splividend continues to reveal itself to the brokers and people continue to DRS their newly received shares, spirits stay high. The following weeks will be interesting, I will be watching very closely! + +Now on to the fun stuff. Anyone need food or essentials? Please reach out to the community and speak up! No shame. Many here can help make sure that you and your loved ones are good. There is no reason anyone should be without. Ive seen so many comments of people in tough times, it just absolutely pains me to see this. I don't know how to even do this. I'm sure we can find a way in keeping this responsible and anonymous. Anonymous is the word, no one is asking for anyone to be doxed here. + +No one should be without. We're all family here. Even if this helps a few people then it's worth it. + +If you need help, if you're struggling, please ask. We are all a community, and there's no shame in seeking support if you need it. Also you don't need to be in the same area, hopefully you can find someone/people to help! If you just need to vent that's fine too. + +Just wanna go over a few ground rules for this post. Feeling frustrated and tired here IS okay, but spreading FUD is not. A little leeway will be given but outright \*\*saying you sold\*\* (true or not) is not the best to post and \*\*WILL be considered FUD.\*\* No fud please. Basically not spreading of fud and not talking of selling and you'll be good. Also helping out is absolutely okay, and welcomed, but I think the line has to be drawn at posting things like official charity links and gofundmes, at least here in the comments. Also remember that while this is an online community, we are all individual investors. But also remember that needing help is okay and you're not alone. + +As for the critics, not everyone who's struggling is over leveraged. Alot can change in a year or even just a few months, and you just never know what people are truly going through. Also many people who have no idea what's happening with GME currently are feeling the effects of the state of the economy right now. A little compassion never hurts 😄. + +Cheers everyone 🍻, and hope everyone has an awesome weekend 😊. + +Use your gut and ape help ape! WAGMI. And remember, Power to the Players 🥢! DRS! 🦍❤️ + +Stay cool! Love everyone. +In the last year, Pinterest is down 55%. The 52-week high was $89.90, while the low was at $31.61. As always, I make a video as a more in-depth version: + +[https://www.youtube.com/watch?v=Rpv7bqbLEzA](https://www.youtube.com/watch?v=Rpv7bqbLEzA) + +For those that prefer reading, below you can find my thoughts on Pinterest: + +The platform grew the # of users significantly at the beginning of the pandemic as there were a lot of people with fewer options on how to spend their free time. So, Pinterest was one of the "new" ways to fill time for some. As time went by, the # of Pinterest users started to decline and this was a signal that the platform couldn't retain the new users brought by the pandemic. However, I think this was very much expected. Pinterest is a different kind of platform. Unlike Facebook/Twitter, there's a lot less interaction between the users and the goal is different as well. Through images/videos, the users get inspiration on various topics, whether that is cooking, working out, or renovating a room in their house. There are fewer notifications and less dopamine involved in getting likes/comments from others. It's just a platform that attracts a different kinds of users. + +However, looking into one chart (the # of monthly active users) and the changes over time doesn't show the large picture. + +1. The revenue of the company grew from about $0.5bn in 2016 to almost $2.5bn for the last twelve months (Q4 2020 to Q3 2021). +2. During the same period, the gross margin improved from around 50% to 80% and they've had a 14% operating margin for the last twelve months. +3. They have increased the average revenue per user and it is still low compared to others, so there's room for improvement. +4. They have a great balance sheet, no debt apart from the 189m leases and $2.3bn in cash +5. They were growing revenue at 50% annually and although that is difficult to continue from the monthly active users, there can still grow significantly by increasing the average revenue per user. Forecasts for the next year range from 5% to 41% increase in revenue. + +I ran my assumptions through a DCF model. Below you can find the assumptions: + +\- Revenue growth 25% for the next 5 years, then to slowly decline (mainly driven by an increase in average revenue per user) + +\- Operating margin 25% (It is already at close to 15%. Companies in this industry are known for having large operating margins. I do not think they'll reach the 40% of Facebook, but 25% seems quite conservative) + +\- WACC 7.5% (Mainly cost of equity, the cost of debt is irrelevant as their debt is 1% of the debt+equity) + +The outcome is the following: + +\- Revenue in 10 years to reach $12.4bn (roughly 5x increase from the last twelve months) + +\- Value per share $51.73 (Stock is currently trading at $32.42) + +&#x200B; + +Now, could I be wrong in my assumptions? Definitely! So, below is a table of the various scenarios based on how quickly the revenue will grow and the margin they can sustain (both are assumptions for year 10): + +&#x200B; + +|Revenue / Op. margin|20%|25%|30%| +|:-|:-|:-|:-| +|4x ($9.8bn)|$34.1|$42.1|$50.1| +|5.1x ($12.4bn)|$41.7|$51.7|$61.8| +|7x ($17.1bn)|$54.6|$68.2|$81.8| +|10x ($24.4bn)|$75.3|$94.5|$113.8| + +In all of the scenarios, the current stock price is below the fair value. I am not sure if I'm missing anything and I'd like to hear your thoughts! +I was looking at the company and it seems to have gone done by a lot and it pays a hefty dividend (granted that may not be the case in the near future). Any thoughts on this company? +For the DCF modelling gurus and CPAs out there. In our models when we add back depreciation as a non cash expense to determine free cash flow when forecasting, are we not cheating the system? How do we then capture the value we lose in overall asset value on the balance sheet from D&A in a company where these costs are significant? +Right now I'm paying about $13,000/yr for daycare. I tell people that once the kids are old enough to go to public school I won't know what to do with the extra $1,000 per month (post tax). Then they always tell me "oh, buddy. It doesn't get easier. You've got books and uniforms and lunches to pay yada yada". I drop it after that. + + +But so. many. people. say the exact same thing. In my head I think, "no way are schools lunches and uniforms $1,000 per month!" + + +Does anybody here (who actually budgets unlike my friends) have real numbers to give me? + + +Edit: KY, USA + + +Edit Edit: Every school here has uniforms. Or maybe "dress code" to some of you. Usually slacks either khaki or blue with either white, blue, or red 3-button polo. +**Mods please mark as debunked. My research for Part 5 was flawed. When i was doing research for Part 5, I used coinbase which i later learned grabs the info from coinmarketcap.com. And i used their current numbers for that part vs current stock. Most of those numbers were updated 131 hours ago. Which makes it outdated. + +Someone is still trading GME tokenized stock on DeFiChain DEX though. No idea why. But regardless, my conclusions don't make sense now given part 5 is wrong + +I still stand by Veris being used for equity swaps and tokenized stocks being used for those swaps. But disregard everything else. Please downvote post to remove from top of page** + +~~Ladies and Gentlemen, we got em!~~ + +~~TLDR: Tokenized stocks are used for blockchain equity swaps. These tokens have been de-pegged, meaning the value of the token and stock is not 1:1. They are intentionally keeping the token either higher or lower, depending whether they are short or long that security. Given the swap is based on the value of the token and not the equity, they are manipulating their positions within the swap~~ + +~~Please check out the DD/Speculation I uploaded yesterday for context:~~ [~~https://www.reddit.com/r/Superstonk/comments/yx7geo/total\_return\_equity\_swaps\_are\_connected\_to/~~](https://www.reddit.com/r/Superstonk/comments/yx7geo/total_return_equity_swaps_are_connected_to/) + +~~TLDR of this DD: Banks and Hedge Funds are using Veris developed by Axoni. Axoni is a blockchain solution for equity swaps. Veris allows for all parties on a trade to match and confirm all trade terms upfront and remain synchronized on post-trade events such as amendments, positions, and cash flows through the lifecycle of the swap. Axoni uses tokenized stocks for its blockchain solution which are pegged 1:1 to the equity they are representing.~~ + +u/dibrickishaw ~~was able to confirm this in his own post (check it out) by finding an article which states: "But the exchange (Binance) does not provide a formal investment prospectus that would be required if it were deemed the stock tokens constituted “securities” under European regulations. CM-Equity said the product was Mifid II compliant and~~ **~~worked as a certificate for a total return swap.~~**~~"~~ + +**~~Part 5: FTX Collapse and de-pegging of tokenized stocks~~** + +~~Tokenized stocks have de-pegged from the securities they are supposed to represent. GME tokenized price: $24.89 | GME Stock Price $27.76. Most tokenized securities dropped in value. I assumed this was due to FTX collapse and all tokens were now slowly dying off.~~ + +~~Well this was false. Not all tokenized stocks dropped. GameStop token dropped, Popcorn token dropped, and many others. However I managed to find a few that didn't drop but increased in value relative to the equity they are supposed to represent and some that dropped in value.~~ + +~~Amazon stock: $94.85 | Amazon Token: $107.00~~ + +~~Tesla: $183.17 | Tesla Token: $189.50~~ + +~~Apple: $150.72 | Apple Token: $153.34~~ + +~~Nvidia: $156.77 | Nvidia Token: $145.40~~ + +~~Pfizer: $48.33 | Pfizer Token: $$45.00~~ + +**~~Part 6: I see you Citadel~~** + +~~This doesn't really make sense. Why are some up and some down? Maybe due to demand? Maybe FTX blowing up? But who is still buying these shit coins!?~~ + +~~Do you know what GameStop and Popcorn have in common? They are shorted by hedge funds/banks. These tokens are lower than current stock price.~~ + +~~Do you know what Amazon, Tesla, Apple have in common? They are held by Citadel and used as collateral. These tokens are higher than current stock price.~~ + +[~~https://hedgefollow.com/funds/Citadel+Advisors~~](https://hedgefollow.com/funds/Citadel+Advisors) + +~~Do you know what Nvidia and Pfizer have in common? Nothing. Irrelevant to this saga as far as am aware. These tokens are lower than their stock price. (Everything short theory)~~ + +**~~Part 7: Conclusion and Speculation~~** + +~~I believe that tokenized stocks are used for collateral and for equity swaps purposes which is utilized by blockchain solution Veris.~~ + +~~I believe tokenized securities were de-pegged in order to prevent hedge fund/banks equity swaps from blowing up. Increase the token price of their collateral for more collateral and lower the token price of the short for lower margin requirements.~~ + +~~Veris blockchain solution is literally living in a detached world to make sure the equity swap positions on the platform do not blow up. Therefore they are manipulating the token price which affects Veris and their swap positions. If their equity swaps were not on that blockchain solution, I suspect they would've blew up by now. Clever but very fraudulent strategy. Anything for one more day. This is why they are holding their swaps on blockchain. Because tokens can be manipulated to not be part of reality.~~ + +~~DISCLAIMER: UNDER NO CIRMUSTANCE SHOULD YOU BUY THESE SHIT TOKENIZED STOCKS. STAY AWAY!~~ +The guys who set out to catalog the various cognitive biases used themselves as the essential data points. They believed that as long as they weren’t insane then the way they saw and reacted to the world should be similar to the way everybody else did too because we all share the same evolutionary hardware. + +So when I think about my own journey since January, when I think about the rage that all the corruption and manipulation by the shfs has engendered in me, when I think about the due diligence showing GME to be a tech turnaround play for the ages, I can confidently assume that all the other apes out there have reacted similarly to those stimuli. + +It’s not just about everybody writing that they’ve been buying more shares the whole time. That’s one data point to take into consideration. But just as important for me is that I know I’ve been buying a ton more the whole time and I know through cognitive psychology that everybody else is enraged by what’s happened like I am and excited about the turnaround like I am, and thus I can confidently infer that those stimuli have caused the same behavior in them as it has in me, to compulsively buy shares of GME without ever selling a single share. +They will constantly nag you about it, whenever they hear that BTC crashed or something. They will tell you "told ya so" many times. They don't understand what Crypto is and does, they only know that it is very risky. They don't see the purpose or the value, they only see what their Boomer media tells them. + +Do yourself a favor and keep your investments for yourself, your mental health will thank you. + + +Edit: I'm glad some of you have a more supportive and understanding family than I do. Unfortunately, not everyone is blessed like that though. +I originally posted this [here](https://www.reddit.com/r/CryptoCurrency/comments/7qwhrr/bitconnect_is_shutting_down_its_lending_and/dssqthw/), and it was suggested that I make a separate text post for it. + +This started as a list of ponzi schemes only, but I've also found some pyramid schemes, (and quite a few that I think are both), so I've added them here as well. The ponzi and pyramid schemes currently around (that I'm aware of) are: + +1. BCC Cash (note that this is different from Bitcoin Cash) +* BCHconnect +* Billion Bit Club +* Binary Coin +* Bit Sequence +* BitAI +* Bitchamps +* Bitclub/clubcoin +* Bitcoin Ascension (pyramid scheme) +* Bitconnect X +* Bitether +* Bitfinite +* Bitfintech +* Bitglare Coin +* Btchash +* Btc-Rush +* Btcwait +* Chrysos +* Coinrium +* Cointeum +* Coinspace +* Dascoin +* Ecomcash +* Eigencoin +* ETHconnect +* Etherbanking +* Exacoin +* Falcon Coin +* Farstcoin +* Ficoin +* Firstcoin +* Forzacoin +* Futurecoin +* FUU Coin +* Gold Reward Token +* Goldgate +* Hedgeconnect +* Hextracoin +* Home Block Coin +* HotCrypto +* Hydrocoin +* Ibiscoin +* iCenter +* Ideacoin +* iFan +* Iotaconnect +* Knox Coin +* Legendcoin +* Lendconnect +* Lendera +* Libra Coin +* Liteconnect +* Loancoin +* Martcoin +* Moneroconnect +* Monetize Coin +* Monyx +* Neoconnect +* Numiv +* Oalend Coin +* Onecoin +* Pagarex +* Purpose/DUBI +* Regalcoin +* Rothscoin +* Secular Coin +* SFICoin +* Steneum +* Stepium (pyramid scheme) +* Swisscoin (pyramid scheme) +* Tenocoin +* TEX Coin +* Thorn Coin +* Ucoin Cash +* Unix Coin +* USI Tech +* WCI +* Western Coin +* XRPconnect + +Defunct ponzi schemes: + +1. Ambis +* Bitcoinly +* Bitconnect +* Bithaul +* Bitlake +* Bitpetite +* Bitsupreme +* Btcbox.cc +* Chain.Group +* Coinreum +* Control Finance +* Cryptodouble +* Davor +* Ethtrade +* Laser Online +* LoopX +* Mavro +* Mecoin +* Metizer +* Microhash +* Paycoin +* Plexcoin +* Thunderbit +* Vixice +* Vone + +Note that the above coins/services are only ones that I think are very likely to be ponzi/pyramid schemes (it's difficult to be 100% sure). There are many other scams out there, but I haven't included them here because many of them are controversial, so deciding with great certainty if some are scams would be much more difficult, and because making this post is already a lot of work. + +**I had a list of people here who were promoting some of the above scams on Youtube, but I've decided to remove it at least temporarily as some users suggested. For now, I'll work on adding to the above lists, then in the next few days I'll probably (at least partially) restore what I've removed along with additions that people posted in this thread. If you really want to see the list of youtubers I had here, send me a PM.** And for those who have sent me a PM that I haven't responded to yet, be patient, I'm taking a break now and I still have messages that I haven't had time to read yet. + +I'd also like to make a special shout out to coinmarketcap.com for advertising Bitconnect and possibly other coins listed above, and I'd like to thank the following Redditors for contributing to these lists: + +/u/808hunna, /u/AceDoja, /u/AllForTheGains, /u/Antranik, /u/arse_nal666, /u/BamboozleVictim, /u/Batman_MD, /u/bluebachcrypto, /u/Calmersky, /u/DemarcoFC, /u/DestroyerOfShitcoins, /u/dvxvdsbsf, /u/EClarkee, /u/Furples, /u/gtfobitches, /u/GuessParryGod, /u/Huuuui, /u/iambinksy, /u/infinityplus0ne, /u/jckwho, /u/Kl4n, /u/KnifeOfPi2, /u/lailide, /u/laminatorius, /u/LordGriffiths, /u/Miqote_Menstruation, /u/mscohe01, /u/normal_rc, /u/nudeinmylivingroom, /u/omegaape, /u/presstab, /u/ptikok, /u/RatToken, /u/Randall_Maller, /u/ripbum, /u/ScroogeMcDuckyPants, /u/Seriously2much, /u/shilch, /u/Sitchu, /u/skotua, /u/slinky_wizard, /u/sToRmRaDe, /u/TheMinero, /u/TheSuspiria, /u/theyork2000, /u/Timbuk220, /u/Too_Trill_To_Fail, /u/tuankiet65, /u/white_knight3, /u/zamli + +More contributions are also welcome! Also, thanks a lot for the tips & gold! + +P.S. Somebody actually got a [Bitconnect tattoo](https://i.imgur.com/O7MbEZc.jpg)! +"The special dividend will be payable July 9 to stockholders of record at the close of business on June 25, the company said." + +https://www.marketwatch.com/story/retailer-tilly-s-declares-special-dividend-of-1-per-share-271623272637 + +If you chase special dividends, there you go! +I'm finally seeing green results after months and months of pain and agony with trading. Everything I did it seemed like the market was against me and I would end up losing money or breaking even long term. What took me to the next level are 3 things. + +\- Be extremely serious about risk management. Right now, before I enter I trade, I look where my stop loss would be. This has led me to only take trades with very good r / r ratios, like 1:3 or 1:4. Since I've started doing this, I slowly stopped breaking even and my account is now growing slowly day by day. + +\- People saying that you should master 1 or 2 strategies or patterns are spot on. I stopped chasing random pumps, wicks, and patterns when I realized I was just gambling by doing that, and I now only trade 2 type of patterns. I see great results trading triangles and breakouts. I have traded so many of them that now a lot of times I see very similar price action and I can spot fakeouts and know what is likely going to happen. + +\- Size the f\*ck down. I realized that by trading with amounts that I wasn't comfortable losing with my r / r ration (for example, risking $100 to make $300 -> $100 I'm not comfortable losing) I was making dumb mistakes and I wasn't analyzing the reasons why my trade did or did not work. Instead, my mind was on I NEED TO MAKE IT BACK ASAP. So I would take dumb trades to try to recover my loses. I started trading with much smaller amounts, and now I'm more comfortable by just placing a SL, a TP, and going away until something happened, instead of being glued to the monitor and watch the 1 second chart, get mentally tired and scared, and exited the trade because of overthinking and for it to then go straight to my profit target. + +Obviously, I am still very new and expect to get my ass rekt when the markets change and all of that, but that's only going to help me learn more and be smarter about future trades. Never thought trading would be so hard. I wouldn't recommend it to any of my friends. I have cried and yelled while trading. Sometimes I think it is impossible. That I will lose it all and start back from 0, like I did 3 times already. But hey, it's worth a try. Sorry for the long post lol. Hope it helps someone + +Edit: Thank you so much for the awards!!! That's my first time getting any and I'm glad my post was helpful to some people ! +Hi everyone, I just wanted to caution and stress to everyone the importance of doing your own research and due diligence with investing. There is a person posting (or should I say spamming) all the finance and investing subreddits about a company called Patriot One Technology. He plays naive asking what everyone’s opinion on the company is and then has shill accounts post positive or optimistic comments of the company. My guess is he somehow believes he’ll be able to influence stock price by driving investors to it who heard about it online. + +I created this post because I love this community and the world of investing. There are a lot of people coming here looking to learn and seeking advice from others. I know I’ve learned quite a bit from subreddits like this one. I love a good shitpost every now and then but I don’t like people trying to manipulate and take advantage of those who are inexperienced, gullible, or new to things trying to learn. That crosses a line in my books as corny as that may sound. + +If you look into these posts and the comments at first, a naive or inexperienced person may think this looks like an attractive company full of potential listed at a bargain price. They may see others praising it and decide to put their own money into the company stock themselves. Yet, a little digging would show this poster is spamming all the related subreddits with this company, creating shill accounts to praise it, and even made a YouTube video all in an effort of trying to lure people into this Canadian pennystock that deals with security systems conveniently after the recent string of mass shootings in the US. + +Don’t be fooled and let these people take advantage of you. Greed is a part of life, especially in the world of finance and investing. Do your own research, listen to others advice carefully yet cautiously, take time to learn how markets and companies work, and don’t blindly follow the advice of strangers, especially those online in a forum involving money related matters. + +The mods here do a solid job of keeping this community running and I don’t want this post to discourage discussion of new, small, niche, or exciting companies. If you see anything strange like the poster here, don’t be afraid to call them out or report them to the mods. Let’s keep this subreddit going strong. + +Thanks. +I started reading about real estate since July last year and finally feel confident enough making moves and interviewing people for my team. My impression was that as a new investor who has zero properties under her belt, no one would actively try to find deals for me or work with me and any good real estate agent probably wouldn’t have time for me. + +Well today I am elated because I think I’ve found a rockstar lender, agent, and property management team. My agent is tech savvy and through their platform I am able to indicate whether or not I’m interested in something. Through this platform I showed that I was interested in a property that went on the market today . I had no expectations that I would get a call or any contact from my agent but that I would just keep it in mind for later. Well turns out my agent called ME , looked at the property already, ran comps, and gave me rental and rehab estimates .... and I didn’t even have to ask him to! + +And if that weren’t enough I interviewed a lender today who discussed with me based on my current situation I may not qualify for loans due to my DTI. But instead of leaving it at that , they stayed on the phone with me for 40 min to creatively problem solve and now we have an action plan to get me pre approved ! + +Like what? I thought it was going to take me a lot longer to find great people to work with. I’m just so happy but have no one to share these wins with because no one I know loves this stuff as much as I do so, alas, I thought I would share with the internet. + +If anything I hope my experience encourages some new investors out there that you CAN find some great people to work with even without a ton of experience or track record. + +Thank you for reading. + +TLDR: new investor, found a rockstar team to work with when I didn’t think it was possible. Time for take off! +**First Things First, What Is A Synthetic Covered Call?** + +For those of you who don't know what a synthetic covered call is I will briefly explain using SPY as an example. + +To execute a synthetic covered call (SCC) you buy a long-dated option, it works best with leaps in my experience, and sell an option with less DTE for a premium. If the stock price goes above your short call then you cover your position with your long call. If not you rinse and repeat. However, it is generally not profitable to let your short call expire in the money because the LEAP will have cost way more than the premium and differences between strikes. So we buy back the short call before it is in the money. Now you might think that since you had to buy back the short call for a loss that you lost money on this trade, but actually you'd be wrong. The spy LEAP we are long should have gained more value than the short call because they have almost no theta decay. So if the price of the stock moves up we remain profitable as long as we don't let our short call expire in the money. But let's think about what would have happened if the stock moved down? Well in that case the call we sold expires worthless and we get to keep the premium. Then the next week we can sell calls against our LEAP again. However, if there is a downward movement in the stock price than our LEAP is going to lose value as well. This is why you should only perform this strategy on a stock you are long term bullish on. (pretty much the same criteria that apply to searching for stocks to wheel applies here.) Much like in the wheel, our covered calls constantly reduce our price basis + +Let's walk through an example on SPY. Spy is currently 309.10 The SPY January 2021 309 call is 20.99. The .30 delta strike for this Friday is 1.48. This means we can long the LEAP and short the 315 strikes for a net debit of 19.51. The best-case scenario for us would be for SPY to end the week at 314. If this happens we will get to keep the 1.48 premium we received and our LEAP will be worth approximately 23.73$ leaving us with a net profit of 1.48 + 2.74 = 4.22. Leaving us with a 21.6% return on our risk. (Our risk is 20.99 - 1.48 = 19.51) The worst-case scenario would be if SPY took a deep nose dive. In this case we would have to sell calls to reduce our cost basis much like you would on a wheel. However, since we are long term bullish on SPY (one of the requirements for this strategy) then we won't mind holding the LEAP and reducing our cost basis until SPY recovers. + +**Why Use a SCC over a Covered Call Strategy?** + +I will again use our SPY example to demonstrate why the SCC is better than the CC. In our example, the max risk on the SCC was 1,951$ while if we were to use a covered call strategy we would have to risk $30,900. The max gain for a CC would be 315-309 = 6 + 1.48 = 7.48. Which is a 2.4% return on risk. Much less than our 21.6% return on risk for the SCC strategy. Now if you're really insistent on using 30,900$ on a SPY play then we really see how the SCC outperforms the CC strategy. You can perform approximately 14 SCC with the same capital as a CC. If the stock were to expire at 315 for the CC strategy you would make 722$ while if it were to expire at the 315 strike in the SCC strategy assuming you brought back the contract at 315 you would make approximately 111$ per spread \* 14 spreads = 1554$. + +**Managing A SCC Strategy** + +Rises in implied volatility are one of your biggest threats with this strategy. Performing this on something like SPY that is trading like a pharmaceutical company right now can be extremely risky because it can gap up 10$ or down 10$. Rises in implied volatility will also make it more expensive for you to buy back your short option while the price of the long option will stay roughly the same. When performing this strategy you want either falling implied volatility or volatility that is staying the same as when you sold your call. To combat this you need to be aware of the news surrounding the company beforehand. Don't play during earnings or other high IV events. If you are caught by surprise with rising IV it is best to buy back your short position and either hold your long position until IV decreases, sell your long position, or role your call to a higher strike. + +Another thing to be aware of is a drop in the price of the underlying. If this happens and you are still long term bullish on the stock just sell more calls to reduce your price basis. If this is happening because of a change in the fundamentals of the company you want to close your position as fast as possible. (If this happens it may be tough to find volume on your LEAP so be aware of this.) + +**Some Extra Notes** + +All option prices were calculated using a Black-Scholes model adjusted for dividends. + +When calculating the profit points of the short option I didn't account for theta decay. Obviously, if the stock is at 311 and you sold your call for the 315 strike then your profit would be higher with one day to expiry than 5 days to expiry. + +I also assumed you would hold your options till expiry in both cases, but pick your profit point and take profits. Taking profits at 50% is a long term profitable strategy, but everyone has a different risk tolerance so do what is best for you. + +This is not financial advice. + +As far as I am aware you cannot perform such a strategy on Robinhood you'll need to use a real broker. :) + +If you made it to the end congratulations! + +Feel free to ask questions or share your opinions in the comments. + +Edit: Fixed acronyms + +Edit 2: I was informed this is more accurately called a Poor Man’s covered call. A synthetic covered call would require a short put. Sorry for any confusion that may have caused. + +**TLDR:** Synthetic covered calls are 1000x better than covered calls. +We have a luxury property in Hollywood Hills. Rent is $12k/mo. For the past two months our tenant has not paid rent, and the three months before that, we have found that the rent money fraudulently came from another account (thus banks are trying to retrieve those three months). + +Tenant of course is asking for $110k to move out. He has “a guardian” we must talk to since he has “depression and suicidal thoughts.” The guardian states he is a lawyer but we recently found out through research that he is not. + +This tenant apparently is making a business out of this as he is concurrently being evicted out of another property according to our lawyer. + +Our attorney is stating this can take 3-6 months. The worry is the property. We made a ton of improvements to it prior to this individual moving in and our maintenance people reported that kitchen cabinets had been “cut out and thrown into the yard.” Additionally they report that the property is filthy. + +We posted a 24 hour notice for a property inspection but the tenants are declining. Any advice is appreciated, our house is essentially being taken hostage and actually costing us a fair amount of money. Thank you! +I spoke with fellow apes who have only DRS'd a handful of shares. If your're committed to going long on a solid company with strong technicals, why sit on the sidelines and watch shorts manipulate your future? They won't play by the rules. The SEC has already turned a blind eye. We already bought the float by mid summer (see voting results). That hasn't stopped Mayo boy & gang from naked short selling. If your shares aren't registered they have been internalized and have done nothing to the price. The MOASS likely won't occur until after the January 2022 puts expire (my opinion). + +Do what you feel is best for you and yours. But if you believe DRS is the way, get off the bench and get into the game. + +*This is Not Financial Advice, just common sense* +Canadian here. I'm curious about getting a small place somewhere in europe and could use some advice. Which countries are the most reasonable to invest in? I was wondering about Italy but couldnt find a good real estate website. I was also wondering about condo hotels. Those seem reasonable. + +Thank you for your time. +So recently I applied for a "junior administrative assistant" position at a consulting firm. The job allows you to work from home, and make about 2 grand a month, working part time. So at first I thought it sounded a little fishy and was a little skeptical moving forward. I received an email saying they would like to have a phone interview and asked me to answer some quick questions (these questions were innocent just like "can you work the desired hours"). After I answered these questions, they replied with their email, phone number, address and website which all seemed to check out. The website had both the email I was communicating through, phone number I would receive the call on, and their listing on the Better business bureau. + +I just finished the phone interview which was more of them instructing me on what I would be doing and my next step is a background check which they just emailed me and asked me for my driver's license ID number, I have not replied but from past experience this seems relatively innocent and what to provide for a proper background check. + +Thank you to anyone in advanced. I am kinda desperate for a job so this position seemed golden, and a lot of it seems legit, I still have kinda a hunch just because it almost seems too good to be true. + + + +EDIT: This is the official email from them, please note I removed the name of the individual who emailed me, but not the company: + +Our company has received your resume/application for employment in response to our add on Indeed. +We would like to note that your resume has been reviewed by our HR staff. Now in order for us to move ahead in our selection process, we would like to have a One-On-One phone interview and proceed with the hiring process online. + +Sparks Consulting company is offering you the position of Junior Administrative Assistant. + +We are very pleased to hear that you are interested in finding out more about our company and our job offer. My name is X and I am the Human Resources Coordinator at Sparks Consulting. + +Job Overview: +Junior Administrative Assistant +Employment Type:Regular, Part-Time, Home Based +Job Type: Admin – Clerical +HOURS: Flexible, Part time +START DATE: Hiring this month + +Salary: +Your compensation package includes a monthly payroll of $2000 payable on a fixed date, health insurance, vacation and personal days through our company's employee benefit plan.You will also receive your bonuses daily upon the full completion of the tasks given. Bonuses will be earned daily for completing all assignments on time. The total pay range for this position is 23800 - 31200 USD per year. + +Daily duties: +Perform clerical and administrative duties to ensure effective and efficient operation of company. +Prompt and courteous customer service. +Provide general administrative assistance to all staff within your team. +Filing, scanning and copying Processing orders and running all daily reports. +Other duties as required. + +In order to be successful with these opportunities you will need the following qualities: +Excellent attention to detail. +Writing and communication skills. +Flexibility. +Can-do attitude. +Problem solving skills. +Ability to work under pressure and meet deadlines with minimum supervision. +Solutions orientated. + +As discussed you will be responsible for the administrative support function with our customers based in your city. You will report directly to me and your Phone Manager and your normal working hours are expected to be 9.00am to 1.00pm Monday to Friday or we can arrange a flexible schedule. Your starting date will be set by the end of your hiring process. There is a specific training program to undergo. You do not need a university degree to apply for this job. High school diploma is sufficient enough. + +However, you need a knowledge of basic PC program packs like Microsoft Office & Word and also you must be familiar with Internet and E-mail services. + +Now, we have a few questions for you and if you answer them with answers that suit our needs then you may consider yourself as a successful candidate! + +1) Do you have an instant access to your e-mail and your phone everyday? +2) How many days a month you are leaving your town? +3) Are you able to go out of your house and move within your area completing daily tasks during business hours? +4) Could you get 3-4 hours of free time daily during normal business hours (Monday - Friday) ? +5) Who was your most recent employer and what did that job entail? (Briefly describe your recent job role/experience?) + + +EDIT AGAIN: after posting the name of the company and website, people were able to confirm that the images used were stock photos (they did seem a little odd to me when I looked at them). Thank you to everyone who helped out! +Hey mangs, + +Last week in the daily we had a good little talk about the letter I had written to my wife that details certain emergency money measures. The talk was so good, I decided to spin up a post on it. This is that post. + +The letter covers three contingencies that I think could happen where I wouldnt be able to manage our money. + +* Short term (like I am on a business trip) + +* Long term (like I am in a coma or brain damaged) + +* Dead (this is permanent) + +I sent a copy to here gmail where she will keep it forever and be able to find it by searching for "emergency money" and I also have a card copy in this little [fireproof box](https://www.amazon.com/gp/product/B004IPR22C/) we bought on Amazon a couple years back. Here is the letter (names changed and screenshots removed) + +>**Short Term:** + +>1. Use the normal credit card to buy stuff as needed. + +>2. Make sure all bills are paid. Everything is basically automatic and pays from our credit card or Ally . We should have enough at Ally to last at least 4-6 months + +>3. Pay our rent. + +>**Long Term or Bad situation:** + +>Note: Our emergency funds should last at least three years (probably more!) under normal-world circumstances. You can ask my dad for advice. After my dad, I would recommend Matt, Mike, and then Brad for advice. + +>1. Immediately sign up for two (or more) of the 0% credit cards like you have done before. Call and get the best credit limit you can. Use those for as many purchases as you can to conserve cash. + +>2. Follow short term steps 2 and 3 above. + +>3. If/when Ally savings is exhausted, sell our stocks and bonds in our shared Vangaurd account which is called "OracleDBA's super time awesome brokerage" + +> 3a. Log on to Vanguard with your username/password. + +> 3b. Sell only what you need to satisfy cash needs. + +> 3c. The order in which you sell is important. Sell whatever has the highest long-term capital gain first. + +> 3c-1 once logged in go to cost basis-in the brokerage account + +> 3c-2 in the cost basis screen, click show details to expand all the holdings and then sell whichever holding has the highest LONG-TERM capital gain. This should correspond to the lowest cost per share for that holding. + +> 3d. On the sell screen, you can have the proceeds of the sale sent to our Ally checking or savings. + +> 3e. Vanguard is really nice and you can call them if you need help with these instructions. Also, the forum bogleheads.org is really nice if you need to ask questions about the right way to sell. + +>4. If things are really bad or really long term, take time and hire a fee-only financial advisor. + +>5. Don't forget my long term disability which kicks in after 180 days! That shit pays out $4100/month until I am 65. If you have to claim my disability insurance, hire a lawyer who knows how to do that. Also talk to the lawyer about social security disability. + +>**OracleDBA's dead:** + +>1. Follow the short term steps 1-3 and also probably get some 0% cards until everything is figured out. + +>2. Hire a lawyer and "fee-only" financial advisor. Get advice from my Dad, Matt, Mike, and/or Brad. + +>3. In the black fire-proof box is a list of all the institutions in which I/we have money and insurance. + +>4. Our wills are in gmail and the notarized one is on our safe deposit box. + +>5. Congrats! you are a millionaire! P.S. go get a bunch of therapy and shit. + +That's the letter! She found it very simple and reasonable. I have many further things to share regarding this. + +First, some of you may question why I instructed her to sell to lock in gains. I did this because explaining when it might be appropriate to tax-loss harvest would be cumbersome. Plus, given our holdings and tax situation, it makes sense. If it ever doesn't make sense, I will update the instructions. + +Second, I do go to great lengths to share all and any financial details with my wife. Her background is completely different than mine and she has very little interest in finances. She delegates financial stuff to me. You may have a different relationship/understanding with your spouse and that is awesome. + +Third, I have a bunch of insurance (life insurance through my job) and a private (really good) long-term disability policy that I mention in this letter. That might be a **really good idea for you** and you should think long and hard about what would happen if you die or become disabled. + +Lastly, I wrote this in accordance with my circumstances and beliefs. Yours might be totally different! My reason for posting this whole fucking thing was maybe to help you mangs thing about how your bankroll might be handled if certain crazy things in your life might happen. It is worth thinking about and preparing for. + +Edit: + +**Bonus Points:** A few things have come up in this thread that are important. + +You should probably have a will and advance directive. Go see a lawyer. + +You should probably have disability insurance and maybe life insurance. + +You should for sure list a beneficiary or Transfer On Death in all of your financial accounts. + + +1. + +Alex Karp, the co-founder and CEO of Palantir Technologies (NYSE:PLTR), spoke via teleconference on December 3 with Greek Prime Minister Kyriakos Mitsotakis about Palantir’s ever-expanding partnership with the government of Greece to support their COVID-19 response efforts. Dr. Karp and Prime Minister Mitsotakis were joined by Palantir Executive Josh Harris and Kyriakos Pierrakakis, Minister of Digital Governance of Greece, to explore new ways to keep Greece ahead of the curve with their public health response. + +Since the start of the pandemic, Palantir has worked with the Greek government to help enable data-driven decision-making in the context of the COVID-19 pandemic response. The government is leveraging Palantir’s Foundry software platform on top of Amazon Web Services infrastructure to deliver COVID-19 response workflows to government officials responding to the pandemic. Of particular value has been the deployment of a crisis-control center dashboard for the Prime Minister, which displays a holistic overview of the state of the COVID-19 pandemic in Greece in real time. + +“Our partnership with the Greek government was borne out of necessity once the pandemic began,” said Alex Karp, co-founder and CEO of Palantir Technologies. “We have readily played a key role in their COVID-19 response effort, which from our experience has been one of the best in the world, and we look forward to broadening this partnership for years to come.” + +The Ministry of Digital Governance, leading Greece’s rapid digital transformation, played a pivotal role in facilitating the partnership swiftly, enabling top decision makers to start generating actionable insights within a matter of days. As the pandemic continues to evolve, Palantir will deliver advanced integration and analytic capabilities to a range of government initiatives, to enable data-driven decision-making. + +2. + +Palantir (NYSE: PLTR) won a deal with the FDA to help power drug reviews and inspections, according to a report from Bloomberg. + +The three-year deal is worth $44.4 million and will allow the FDA's Center from Drug Evaluation and Research and the Oncology Center of Excellence to use Palantir software in integrate and analyze data. The software will help the agency approve drugs and monitory safety. +Hi guys! + +&#x200B; + +I am a bit new here. I am a 21M engineering student with a solid background in data science and finance now. I have a lot of free time currently and I've been curious about what was going on in the markets. + +&#x200B; + +Recently I thought of some ideas, to create a bot capable to give trading suggestions on a given instrument (that could be stocks, forex, commodities, ...), based on previous data, sentiment analysis, and some other stuff, using technicals and deep learning. But is it even a realistic goal? I am not talking about creating the ultimate 100% success bot, rather something that would give even a slight edge over the market. + +Just wanted to know about you guys' experience, and if some of you guys have been working on personal projects, how did it turn out? + +&#x200B; + +Also stay safe everyone! We'll get through this crazy situation someday hopefully. :) + +EDIT: reach out to me (marengo#0012) on Discord! +Hello! + +I am a new graduate who is hoping to advance my career in medicine (currently applying to schools). Because of this, I am temporarily working in a hospital as a Nurse Tech. I recently interviewed and accepted a position in our Emergency Department under the same title. + + +I received an offer via email and accepted. HR lady responded with "I am going to consider your email as formal acceptance of the position." Now, after emailing her again, she responds saying: + +> *"I will need to revisit the pay amount that I originally offered you for the position and get back to you, it looks like based on your experience that it will not be the original offer amount."* + + + +Am I SOL? I haven't signed any official documentation but we have both acknowledged my acceptance of the position. This has been a headache. Any help is appreciated as I am a little upset and confused at the moment. **In total, this would likely decrease my yearly salary by $8000/year.** +I've been reading up on EOS and the upcoming mainnet launch and I'm pretty sure it's going to end very poorly. + +We know that registered ERC20 tokens will be converted on a 1:1 basis to the new mainnet token and that all ERC20 tokens will be frozen on June 2 right *before* the mainnet launch. We also know that EOS has said that they are only releasing the source code for the mainnet; there are very good reasons to believe that there won't be a functional blockchain in operation on day 1 - someone will have to build it. On the surface, that may seem fine and completely workable, but let's look at some problems: + +1) There a lots of new people who have recently purchased EOS in hopes of it being the next BTC or ETH. These people use exchanges and are not comfortable using wallets, signing transactions, transferring tokens, etc. A quick peek over to r/EOS/new shows that lots of people are having problems with the registration process; and those are the ones who are even aware that they have to register them. There are lots more who think that they can just leave their tokens on the exchange and the exchange will handle everything for them. There will be lots of people who lose their tokens in this confusion. + +2) Speaking of wallets, any word on a native EOS wallet? Or does that have to be developed externally too? How do you get your shiny new EOS tokens? From what I've gathered, you'll probably have to redeem your tokens on a particular EOS blockchain once it's up and running. So day one of the mainnet, you probably won't even have access to your tokens anymore, at least for a while. + +3) EOS chains: It's almost a guarantee that there will be several scam chains that will release very quickly. But even legitimate chains probably won't be readily supported by exchanges. They will need to get listed just like any other token. How long will that take? + + +So what happens on June 3rd when no one can buy, sell, or trade their EOS? What happens when your ERC20s are frozen and you have no access to a native EOS wallet? I would love to get satisfactory answers to these questions because I haven't seen any. And this is just the situation if everything goes correctly; I'm not even talking about a situation where your registered tokens don't show up or there's some kind of bug in the EOS code. + + I think people are riding this pump up and the whales are going to dump right before the ERC20s get locked. Most of these whales are traders and traders want to trade; they don't want their funds locked up even for a few days. It's going to be a mad rush for the exits. + +Feel free to call this FUD because it is. Fear, uncertainty, and doubt is heavily clouding this whole thing and it looks like a disaster of epic proportions is inevitable. + + + + + + + + + + + + + +Ive been scalping SPY ITM weekly options. It has been very profitable. Usually I make between $100-$300 per trade but I would do that multiple times throughout the day so it adds up. I use the TDameritrade LRC indicator and MACD to help me know when a bounce or reversal will occur. + +This is about me venting about taking profits. I was up over $700 on one trade with a SPY put and thought that would go down more due to greed. Then it reversed and I ended up losing $3k. What’s even worse is that I was being speculative and thought that it was going to reverse. It was on Thursday when SPY hit new ATH. So I decided to hold and hope for a reversal but it never did. I went from $700 up to down over $3000. Safe to say, I learned my lesson. I should’ve have just taken the $700 profit and go from there. + +Lesson learned: people never went broke taking profits. They have gone broke by being too greedy and trying to hold out for more profits. + +I don’t need to try to make $1000 on 1 trade. I can make 330 on 3 separate trades and that will add up. Trading is a marathon. Not a sprint. + +Edit: please stop messaging me asking how I did my trades or if I can teach you. I’ve already stated how it’s done in my post. Please just read up on LRC channel and MACD. There’s YouTube videos about it. +Anyone get divorced during their FATFIRE journey? If so what was the effect? Hopefully it won’t happen but it’s a possibility for me. Income and assets are all from me - but it’s a community property state so likely cutting assets in half, but expenses also decrease (at least in theory). Any advice on how to minimize how much this de-rails my journey? My current thought is to try and avoid alimony via a settlement of some kind, suck up the loss and double down on earning to catch up +**Introduction** + +For those not up to speed with Adveritas, here is a brief fundamental overview. + +●SP - 9.6c + +���MC - $37M + +● Category: SPECULATIVE - HIGH RISK + +Adveritas is a software development firm purposed for maximising its clients' profitability in online marketing. Its signature software "TrafficGuard" acts as a filter between genuine and fraudulent advertising engagement; a marketing scourge expected to be worth $100Billion in damages by 2023 + +TrafficGuard addresses a wealth of inadequacies inherent in legacy anti-fraud systems; as far as online marketing is concerned, its competitors are akin to your browser's ad-blocker while traffic guard acts as your VPN. + +Adveritas has signed a number of billion dollar clients in recent times, adopting TrafficGuard across Mobile, Display and Pay-Per-Click (PPC) services. + +The business has substantial opportunity to scale through direct enterprise channels, channel partners and self-sign up PPC, and its most recent balance sheet numbers reflect this; annualised revenue grew 120% in FY20-21 + +See 'Investor Presentation (30/08/2021)' for further information: [https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02414285-6A1047752?access\_token=83ff96335c2d45a094df02a206a39ff4](https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02414285-6A1047752?access_token=83ff96335c2d45a094df02a206a39ff4) + +**The Big Fish** + +Here is what *Mark McConnell, 9 Time Young Rich Lister and Tech Entrepreneur* had to say. (Source: AFR) + +Mr McConnell said his family office spent more than $100,000 conducting "bottom up, fundamental" due diligence on Adveritas before he invested and joined the board. "I’ve been in and around cyber, fraud and IT security for about 20 years and have kept an eye on a bunch of those nano caps for ages," he said. "If you’re going to join the board and align with management of a nano cap, you have to protect yourself from reputational damage. I spoke to clients and they were beating multibillion dollar VC-backed firms when it was a $3-mill business in Perth. + +Mr McConnell has amassed a 17.5 per cent stake in the company and with his remaining options he could climb as high as 19.9 per cent. + +Mr Oberg (Wilson Asset Management) said when he saw Mr McConnell amass a sizeable position in Adveritas he decided it was a good time to meet the company, and consequently invest, but that he would be closely watching its ability to close deals and generate free cash flow. + +Looking at the tech sector generally, Mr Oberg said Wilson Asset Management was underweight in the big tech names like WiseTech, Afterpay and Xero, despite believing they're good businesses, because in the next year he thinks the momentum will support smaller tech companies. + +**Current State of Contracts** + +AV1's TrafficGuard is the only accepted ad fraud verification vendor on the Google Market Place. This is essentially an endorsment by Google of the product, and contracts from them will start coming. The self-sign up portal is ready and active, and a new CMO will be appointed soon in order to drive self-sign up clients. The company has signed multi billion dollar firms on trial, and once they like the product it will be an easy swap to fully paid contracts. + +AV1 have won Deezer, Cars24 (SoftBank backed), Betbull, Betfred, Banco Neon (All Billion Dollar Firms). Increased annualised revenue by 40% since June 30 as the trials start to convert. Company has said major pipeline is in action and has pointed towards further growth. CARS24 is said to be the Uber Eats of online shopping. + +Strong customer renewals with Gojek (Look at their investment register!), Rappi (Look at their investment register!), Entain (Australian Based but will go Global), Glu Mobile (NASDAQ:GLUU), Ladbrokes and Neds and Deezer renewing their contracts. + +Preparing everything for a major self sign up push for the mass market PPC product. $147b was spent on Google PPC last year. There is a major addressable market for AV1 to attack. + +Tens of millions of businesses use google as their first point of advertising. AV1 will go after that market via social media, influencers, heavy advertising. + +Getting these unicorns obviously help in the marketing to mass markets. + +More case studies. More content will drive further growth. + +$40m minnow on the ASX signing billion dollar firms and its only beginning it’s journey! + +**The Regal Kiss of Death** + +● Adveritas receives firm commitments for $3 million placement at $0.10 per share + +● Placement supported by new institutional investor Pathfinder Asset Management and new and existing sophisticated investors (19/07/21) + +The current share price is under the placement price, so you might ask why? The answer can be found slightly afterwards. Regal Asset Management exited subholder status, and are selling the rest of their holdings. Seasoned ASX investors all know that Regal is notorious for relentlessly selling down stock if they dont get their way and are aggressive traders with their positions. The Regal Kiss of Death is something that some of us have seen over the years, and it is CONFIRMED that Regal is selling the rest of their AV1 position. In fact, they are the only net sellers. This means once they are fully out there is no major selling pressure. From what I have been told, Regal has only one account left with shares in it and this was a week ago. It's very possible they are completely out, or almost out. + +If you are purchasing around the 10c range, you are buying at the same price as Pathfinder Asset Management. Bit nice. + +**The Options Play** + +Those who are aware of Bevan Slattery and the impact he's had on stocks such as 3DP and RNT should also be familiar with Mark. Both are tech entrepreneurs, and a 9 Time Rich Lister with a net worth of $100-200M. Mark is on the board of AV1, and former CEO of Citadel Group. + +McConnell is a major holder of AV1 and holds a bucketload of options. He holds 11M options out of 55M. That is 20% of the entire AV1O float. At a 10c strike price and expiry of 25/10/21, he would be spending $1.1M to convert them all. Management including CEO Mat Ratty holds 3.5M options and would be spending $350K of his own money to convert. In addition, Mat Ratty has put in bucketloads of his own $ in the past towards purchasing shares and options. Skin in the game. + +AV1O are the listed options of AV1 and currently out of the money. Clock is ticking, and from what I understand Mark has not sold a single AV1O or AV1 share and intends to convert his entire AV1O holding. This will be an enormous smoke signal, as Mark is known to aggressively dump if he sees anything wrong with stocks he holds. So far all he has done is buy, and his options holding is OTM by quite a fair bit. + +Essentially, for Mark to be in the money for his options you would need to see the AV1 share price in the teens at a minimum or in the 20s again. And right now, the price is sub 10 cents. Mark and Co only have one and a half months to pump the share price to a level where his holdings are in the money. + +Mark has also bought at higher price points, early in the year he bought $1.12M worth of AV1 at 14c. Petra Capital bought 2.4M shares at 17c on 25th or 26th November 2020. Wilson Asset Management are also large holders. + +[https://www.afr.com/technology/adveritas-scores-big-institutional-supporter-20201202-p56jt3](https://www.afr.com/technology/adveritas-scores-big-institutional-supporter-20201202-p56jt3) + +Regal are the only net sellers and they are either completely out or have one account left, Pathfinder Asset Management have bought at 10c, which would be the floor if not for Regal. + +**Conclusion** + +To be honest, this could be the perfect storm. Ratty has built his C-Suite level team with a CRO that has made a large impact to revenue and has setup contracts with billion dollar companies across different industries, and will soon have a new CMO to go global with mass marketing for the product. The aim will be to go global with TrafficGuard soon, and all it will take are a few major full package contracts from household names and suddenly the company will have made an inflection point that could allow it to exit the nanocap space. + +Mark and Co have plenty of reason to pump AV1 to a point where these options are in the money. Such a large exercise is highly likely to attract increased institutional and retail interest over the coming weeks/months. This stock is very close to make or break territory right now, and it's a very good risk/reward play and there is very little time left before this could fly. + +Any buying in this range will allow you to get stock cheaper than Pathfinder, Petra, McConnell and management. Even if the stock moves up to the teens, it would be equivalent to their purchases. If you've ever complained about instos getting cheap shares, here is the chance to get cheaper shares than funds and ultra high net worth investors (Smart Money). +Why did IRFC have such a lacklusture listing whereas as Indigo Paints is trading at abnormal valuations? + +IRFC is still a very solid enterprise with some pretty looking financials. + +In FY20, IRFC financed Rs 71,392 crore or 48% of the Railways' actual capital expenditure. The company’s revenue grew by 20% annually to Rs 13,421 crore while net profit rose by 26.2% to Rs 3,192 crore between FY18 and FY20. + +IRFC’s gross NPAs are nil as it has entire exposure to MoR. As per the RHP, the MoR has historically never defaulted in its lease payment obligations which is likely to continue going ahead. + +**Valuation** + +At current valuation IRFC's IPO should got listed around a P/B ratio of 1. Whereas, considering other NBFCs (even discounting for government intervention) it should atleast be trading at a P/B of 3. +Your markets are run by bots. Now your daily threads are too. + +&#x200B; + +This thread is for plans and thoughts prior to the market open period. + +Maybe use this time to read the [wiki](https://www.reddit.com/r/asx_bets/wiki/index/) [.](https://styles.redditmedia.com/t5_2hqqj5/styles/communityIcon_41pmnaqp4zn41.png?width=256&s=59bf38425fb316fdcba30365b272a5f19352f370) + +&#x200B; + +Posts relating to the "Is /r/ASX_bets about finance or effect your mental health?" etc will lead to a ban of the mods chosing. [You have been warned](https://www.reddit.com/r/ASX_Bets/comments/l0l9et/the_does_asx_bets_effect_your_finances_emotions/?utm_medium=android_app&utm_source=share). + +&#x200B; + +[We have an active official/unofficial discord. It's open to all discussions, stonks related and non-stonks related](https://discord.gg/EKU2tVBp9u). +Your markets are run by bots. Now your /r/Asx_bets daily threads are too. + +Read the [wiki](https://www.reddit.com/r/asx_bets/wiki/index/) people[.](https://styles.redditmedia.com/t5_2hqqj5/styles/communityIcon_41pmnaqp4zn41.png?width=256&s=59bf38425fb316fdcba30365b272a5f19352f370) + +[Posts relating to the "Is /r/ASX\_bets about finance or effect your mental health?" etc will lead to a ban of the mods chosing. You have been warned.](https://www.reddit.com/r/ASX_Bets/comments/l0l9et/the_does_asx_bets_effect_your_finances_emotions/?utm_medium=android_app&utm_source=share) + +Automoderator may provide "Guidance" for Lazy and zero effort posting. + +[We have an active official/unofficial discord. It's open to all discussions, stonks related and non-stonks related.](https://discord.gg/ywAGqfUAQE) +Your markets are run by bots. Now your /r/Asx_bets daily threads are too. + +Read the [wiki](https://www.reddit.com/r/asx_bets/wiki/index/) people[.](https://styles.redditmedia.com/t5_2hqqj5/styles/communityIcon_41pmnaqp4zn41.png?width=256&s=59bf38425fb316fdcba30365b272a5f19352f370) + +[Posts relating to the "Is /r/ASX\_bets about finance or effect your mental health?" etc will lead to a ban of the mods chosing. You have been warned.](https://www.reddit.com/r/ASX_Bets/comments/l0l9et/the_does_asx_bets_effect_your_finances_emotions/?utm_medium=android_app&utm_source=share) + +Automoderator may provide "Guidance" for Lazy and zero effort posting. + +[We have an active official/unofficial discord. It's open to all discussions, stonks related and non-stonks related.](https://discord.gg/ywAGqfUAQE) +Your markets are run by bots. Now your daily threads are too. + +&#x200B; + +This thread is for plans and thoughts prior to the market open period. + +Maybe use this time to read the [wiki](https://www.reddit.com/r/asx_bets/wiki/index/) [.](https://styles.redditmedia.com/t5_2hqqj5/styles/communityIcon_41pmnaqp4zn41.png?width=256&s=59bf38425fb316fdcba30365b272a5f19352f370) + +&#x200B; + +Posts relating to the "Is /r/ASX_bets about finance or effect your mental health?" etc will lead to a ban of the mods chosing. [You have been warned](https://www.reddit.com/r/ASX_Bets/comments/l0l9et/the_does_asx_bets_effect_your_finances_emotions/?utm_medium=android_app&utm_source=share). + +&#x200B; + +[We have an active official/unofficial discord. It's open to all discussions, stonks related and non-stonks related](https://discord.gg/ywAGqfUAQE). +Your markets are run by bots. Now your Weekend threads are too[.](https://styles.redditmedia.com/t5_2hqqj5/styles/communityIcon_41pmnaqp4zn41.png?width=256&s=59bf38425fb316fdcba30365b272a5f19352f370) + +Read the [wiki](https://www.reddit.com/r/asx_bets/wiki/index/) people. + +[Posts relating to the "Is /r/ASX\_bets about finance or effect your mental health?" etc will lead to a ban of the mods chosing. You have been warned.](https://www.reddit.com/r/ASX_Bets/comments/l0l9et/the_does_asx_bets_effect_your_finances_emotions/?utm_medium=android_app&utm_source=share) + +[We have an active official/unofficial discord. It's open to all discussions, stonks related and non-stonks related.](https://discord.gg/EKU2tVBp9u) +Which one is it? Are we treating the market like a casino or are we treating it like a long-term investment vehicle for wealth creation? Can’t have it both ways yet the dishonest financial media paints it that way. Buffet buys and holds stocks. Does he treat the market like a casino? You know people are snakes when they accuse you of contradictory things. +So, I'm probably not the first one to see this, but it can't hurt to keep morale high + +RC is not using cryptic memes and messages open to interpretation anymore. He is voicing his (very controversial for establishment) opinions loud and clear. + +To me this just looks like a guy who's set up the trap, planned for contingencies and even prepared the ultimate solutions to this shitshow we call the "Free" market. + +He has all the cards and knows that what is to come is inevitable. When was the last time that the brand spanking new chairman of the board of a multi-billion dollar business didn't use business speak and watered down comments to avoid causing the slightest fuss? + +RC gives no fucks anymore and that's bullish AF +https://twitter.com/ddale8/status/982027310529417218 +https://twitter.com/ddale8/status/982027704433348609 + +[Article](https://www.axios.com/trump-takes-next-shot-in-china-trade-war-1522968511-f76d51e9-f07b-4bcc-b99d-11f32291fe96.html?utm_source=twitter&utm_medium=social&utm_campaign=organic&utm_content=1100) +So there's the real reason Ken is suddenly fleeing Chicago: he knew his guy was going to lose (before it happened) and he's losing his corrupt puppets there. He's afraid of a crackdown in Chicago so he found some corrupt Miami politicians and a "clean slate" there instead. + +Miami, the state with the city that was entirely built on Colombian cocaine money in the 80's. What a sophisticated choice! + +[https://www.chicagobusiness.com/greg-hinz-politics/billionaire-ken-griffins-illinois-candidates-lose-2022-primary-election](https://www.chicagobusiness.com/greg-hinz-politics/billionaire-ken-griffins-illinois-candidates-lose-2022-primary-election) + +&#x200B; + +PS: the US is a fkcing joke. +We paid off all but £16k since 2017 and then through a “small” inheritance we managed to knock the last £16k on the head last night. We were paying about £1k a month to StepChange. + +It’s bittersweet ofc as I’d rather my grandpa was still here but he’s provided us a debt free life (apart from mortgage ofc) for the first time. + +I will now be following the flowchart even more keenly to keep better hold on our finances. We have both said we will never get credit cards or loans ever again - we’re just not disciplined enough to have them. +# Tl;Dr: Not this time. You won't regret the time spent on this. There is also an ELIA at the bottom. + +# Disclaimer: + +The aim of the post is to display some options trading data that I believe many of us haven’t seen. It is to contextualize abnormal options trading activity on GME and dispel some myths about the put open interest. + +**BY NO MEANS DO I INTEND TO MAKE CONCRETE STATEMENTS ABOUT WHAT THIS DATA MEANS.** + +I am an ape with a research & writing background, not a financial or markets one. I am good at getting to and presenting data. Courtesy of ape’s donations, I am now working full-time on investigating and writing about GME. + +**I am asking for your input as to what we are actually looking at, how it works, and what the implications are. I am asking for the SEC, FINRA, and the relevant US Attorneys to tell us what this data means, and to what tune GME retail investors have been defrauded.** + +## Throwback time: + +* I am the guy which has been tracking deep-ITM call anomalies and reported the findings to the SEC, which you can find posts about here: + +[The SI% is fake. I found 44,000,000 million shorts that had their FTDs reset since January 1st using DEEP ITM CALLS.](https://www.reddit.com/r/GME/comments/mhv22h/the_si_is_fake_i_found_44000000_million_shorts/) + +[DEEP ITM Calls Activity PT2 - April 1st](https://www.reddit.com/r/GME/comments/mi31m6/deep_itm_calls_activity_pt2_april_1st_708000_ftds/)[Update on me contacting SEC about the 44m FTDs; Proposal for a 'The Game Did Not Stop' Project](https://www.reddit.com/r/Superstonk/comments/mkjaxs/update_on_me_contacting_sec_about_the_44m_ftds/) + +* The above data seems very damning in light of the SEC Risk Alert paper which describes such anomalies to be evidence of Fail-to-Delivers being reset in order to circumvent the law and regulations regarding short selling. + +# 5th of April + +Now, it is the belief of some apes that on the 5th of April, there was no deep-ITM call activity due to my widely-read posts on the 31st March and 1st of April. + +That is not my belief, because that would just be too hilarious to be true. If only Kenny saw how I lived. + +However, the fact remains that in the week after those posts, that activity was lacking. However, new Open Interest opened up on random worthless puts again. That caught my attention and piqued my interest. + +Here are the results of my almost 3-week investigation. + +# Observation 1: GME has some of the highest put Open Interests across all stocks + +**For the JULY 16 expiry, only S-P-Y has higher open puts.** For January 2022 expiry, it is rubbing shoulders in terms of open put interest with stocks that have 2-5bn shares outstanding, compared to GME’s 70m. + +https://preview.redd.it/q2cwjwpqhmv61.png?width=1648&format=png&auto=webp&s=9d294b6f46e3693b6cb098b921ad04ebcdf3a861 + +# Observation 2: Majority of that Put Open Interest is in seemingly worthless deep out of money puts, mainly around $0.5 puts. + +https://preview.redd.it/i9jpttvrhmv61.png?width=1652&format=png&auto=webp&s=7070cc3885bc9dbea2fe1a635d67e35f24cbc930 + +Why is this interesting? + +**These puts are the most worthless items in the GME options market.** + +They are the right to sell 100 shares of GME at the strike price. Therefore, buying a $1 put is equivalent to betting that you will profit from selling shares at $1, i.e. betting that the price will be lower than ($1 — premium for buying the put). + +**It is one of the four corners of the options spectrum. It is the worthless corner. Other three corners are far more valuable.** + +1. The corresponding strike price calls $0.5—$10 calls are ‘deep-in-the-money’ — meaning the stock price exceeded the strike price, in these cases, by a factor of over 20x. For this reason, they are pretty much priced at (share price — strike price) as the likelihood of them being in the money is pretty much at 100%. They are very valuable. +2. There are deep-out-of money calls ($800c), but with recent volatility, reaching those prices does not seem impossible for long-dated July, Nov and leap calls. They have time value and volatility premiums that represent the likelihood of the price reaching $800 by the expiry date. None of these deep-OTM calls trade at sub—$0.05 premiums like the deep OTM puts do. +3. High strike price puts ($800p) represent the right to sell shares at $800, which is approximately 4-5x the current share price. Therefore, the price for these is close to ($800 — share price), they are very valuable. + +All other strike prices for calls and puts are points along those scales. **The deep OTM puts we are looking at are at the most worthless end of the scale.** They in many cases trade at $0.01 premium per share, or $1 per put contract. + +This seems insignificant, but when we look at the share numbers tied to these transactions — we MUST ask — **why would somebody do something so ‘insignificant’ SO MUCH?** + +Additional proof to the worthlessness of these puts as well as the thesis that the holder of these puts is obtaining them for a gain other than financial: + +**On Feb 5, the following puts expired:** + +$0.5p - **22,163 OI expiring - 27,010 total** volume since creation + +$1p - **15,281 OI expiring - 19,531 total** volume since creation + +$1.5p - **6,951 OI expiring - 9,704 total** volume since creation + +$2p - **4,793 OI expiring - 6,549 total** volume since creation + +$2.5p - **4,671 OI expiring - 4,754 total** volume since creation + +On Feb 12, the following puts expired: + +$0.5p - **35,153 OI expiring - 43,835 total volume** since creation + +$1p - **15,802 OI expiring - 22000 total volume** since creation + +In many of these cases, the party who initially buys the put holds it until it expires worthless. + +Options are the casino of the stock market. The options represent bets. + +**What incentive is there to make such worthless bets over and over again at crazy volume?** + +Or maybe the question we should be asking is: + +**Why would somebody NEED to be writing these puts?** + +# Observation 2b) Other stocks do not have such high open interest on the lowest strike price puts. + +Here is a comparison of the Put Open Interest for GME against 4 other stocks. I have added the **total Put Open Interest** for the **LOWEST STRIKE PRICE PUT** for **EVERY EXPIRY**. I have then multiplied it by 100, for the maximum of theoretical shares linked to each contract, and divided it by the **TOTAL OUTSTANDING SHARES** for each of the stocks. + +https://preview.redd.it/kbgum22thmv61.png?width=1257&format=png&auto=webp&s=2f7a6a92c2d4fe1b486583560fbf8301d7eaaf4b + +**Not one of the other surveyed stocks even touched 2% compared to GME’s 53.38%.** This is completely ignoring the facts that not one of those stocks is priced higher than $27, to GME’s current $160s. Many of the other stock’s strikes started at $10 and $15 for some expiries, which means that in some cases, the lowest put strike price available was above 50% of the current share price, while in the case of GME, most of these puts were placed at $0.5 and $1 strike prices, which were 0.31%-0.62% of the share price. + +**If every one of those put contracts SOMEHOW corresponded to 100 shares, the total amount would constitute 53.38% of GME’s outstanding shares. And those are just the lowest strike prices. Can phantom shares be created in this way?** + +We have a sniff of a clue in this paper: + +# [Welborn, J. (2007): MARRIED PUTS, REVERSE CONVERSIONS AND ABUSE OF THE OPTIONS MARKET MAKER EXCEPTION ON THE CHICAGO STOCK EXCHANGE ](https://www.deepcapture.com/wp-content/uploads/2007.10.09-J-Welborn-Married-Puts-and-Reverse-Conversions.pdf) + +***p1:*** *In hard-to-borrow securities, short sellers are illegally “renting” the options market maker’s exception from the locate requirement in order to obtain share entitlements and put options that they then sell and exercise for profit. In a married put, a short seller purchases put options from an options market maker who then \[naked\] shorts the same amount of stock back to the short seller as a hedge. If the stock sold is not a threshold security, then the options market maker may fail and never deliver. A married put can be disguised as a market-neutral reverse conversion. Married puts in Overstock executed, in part, on the CHX exchange indicate several layers of fraudulent, manipulative and criminal activity:* + +*1. Engaging in securities fraud by knowingly failing to deliver securities* + +*2. Mis-marking intentionally short sales as long.* + +*3. Engaging in market making activity that is not bona fide.* + +*4. Failing to comply with Regulation SHO close-out requirements (“rolling the fails”)* + +*5. Agreeing in advance not to demand delivery through buy-ins (i.e., criminal collusion)* + +***p6:*** + +[Married Put mechanism per Wellborn paper](https://preview.redd.it/hxc89g7uhmv61.png?width=670&format=png&auto=webp&s=571a4b5d3e01f592711092d12efba362bc601d23) + +***p7:*** *The outcome of the married put is that the actual naked shorting occurs on the books of the options market maker. Regulation SHO says that, at T+13, the options market maker need not locate and deliver the “shares” he sold. Options market makers face no penalties for failing to deliver. Similarly, the short seller has no incentive to buy-in the market maker, as that would create upward price pressure on the stock—just the opposite of what a holder of a real or synthetic short position would want. Even if that were not true, it is common knowledge that buy-ins are rare. In a* [*2003 SEC Interpretive Release*](http://www.sec.gov/rules/interp/34-48795.htm.)*, the Commission expressed concern about “the manipulative sale of securities underlying a married put as part of a scheme to drive the market price down and later profit by purchasing the securities at a depressed price.” With increased scrutiny on married puts, anecdotal evidence suggests that they are being masked within market neutral trades known as reverse conversions. Classically, conversions and reverse conversions were riskless arbitrage transactions that converted common stock into options (and vice versa).* + +***p9: “Those trades could be done to generate new “bullets” with which to depress the share price. It is also possible that the married puts are being used to roll failed positions.”*** + +**p9-10**: “*In May 2007, the American Stock Exchange* [*disciplined SBA Trading for abusing the options market maker exception through the use of fraudulent use of married puts*](https://www.yumpu.com/en/document/read/36560115/09-0008-sba-trading-llc-and-scott-arenstein-cboe) *and reverse conversions. It is a* ***FACT*** *that the Arensteins engaged in fraudulent options market making on this stock. This course of conduct enabled Respondents to maintain impermissible short positions in a number of Reg SHO threshold securities for extended periods of time.”* + +**My comments:** The GME case is different from the one discussed in the Wellborn paper. Throughout the paper, the married puts cited are described and implied to be in-the-money puts. On GME, we can observe incredible out-of-the-money put anomalies. + +However, not every tactic of the 2021 Abusive Short Seller will be described in papers from 1999-2013 that most of current GME DD is based on. + +We will never have all the answers presented to us, though. + +**However, from this paper and the SEC Risk Alert about deep-ITM calls, we can be CERTAIN that both calls and puts will show anomalies somewhere if fraudulent activity surrounding maintaining illegal short positions, creating phantom shares, and rolling failed buy-in obligations is taking place on a stock.** + +This is just where I found the anomalies on GME. + +It shouldn’t be my job as a retail investor to have to determine exactly how these anomalies link to and explain that activity, that is a job for the SEC, FINRA, the United States Attorney for the Southern District of New York, as well as probably Chicago and Philadelphia. + +**This is just the data I found.** + +# GME Phenomena relevant to the Wellborn Paper + +# 1. Abnormally High Put Open Interest on seemingly worthless puts + +# MYTH: + +The Abnormally High Put Open Interest on $GME **is a remnant of (possibly naked) shorting in 2020 and early 2021 (pre-January squeeze).** + +**Implication:** Yes, there was naked shorting on GME, but it is possible this was covered in the January rally. + +# FACT: These puts were almost exclusively opened DURING and AFTER the January rally. + +https://preview.redd.it/z15p9vtvhmv61.png?width=2044&format=png&auto=webp&s=4b171d0802ce7c97a6686cd57f74564113ffd842 + +The above graph is the **net change in open put interest** on all the puts that I suspect of having been manipulated. + +**If the abnormally high put open interest was accepted as a remnant of pre-January naked shorting, wouldn’t this chart make that proof of naked shorting happening on GME heavily during the January spike, and also preceding the mid-March drop?** + +A 1990 paper that I paid $25 for may hold a clue: + +*“Our results indicate that securities with high levels of short interest tend to have higher betas and traded options and convertible securities associated with them.* ***Changes in the open interest of options are positively related to changes in short interest.*** *To examine this, we looked at coincidental changes of the open interest in firm options and changes in a firm's short interest. Table 5 reports the aggregate simultaneous increases and decreases in short interest and open option interest based on the expiration cycle. The statistical results are easily significant at the 0.01 level and indicate that* ***short interest and option open interest tend to move together***. Tests performed on individual years also were significant for each year. The short interest changes tend to be positively associated with changes in the open interest of options.***” -*** [Brent, Morse & Stice (1990) — “Short Interest: Explanations and Tests” (Journal of Financial and Quantitative Analysis, Vol 25, No 2, June 1990)](https://www.cambridge.org/core/journals/journal-of-financial-and-quantitative-analysis/issue/FC6DD9EE2BFF94316B896BA21F6798FB) + +&#x200B; + +**In this fashion, there have been 90+ strike price & expiry date combinations used since January 2021 to perform this suspicious activity. They are:** + +**^(FEB 5 0.5p)** **^(FEB12 10p)** **^(16 APR 9p FEB 5 1p)** **^(FEB12 15p)** **^(16 APR 10p FEB 5 1.5p)** **^(FEB19 1p)** **^(16 APR 11p FEB 5 2p)** **^(FEB19 2p)** **^(23 APR 5p FEB 5 2.5p)** **^(FEB19 3p)** **^(23 APR 10p FEB 5 3p)** **^(FEB19 4p)** **^(23 APR 15p FEB 5 3.5p)** **^(FEB19 5p)** **^(23 APR 20p FEB 5 4p)** **^(FEB19 6p)** **^(30 APR 5p FEB 5 4.5p)** **^(FEB19 9p)** **^(JUL16 0.5p FEB 5 5p)** **^(FEB19 10p)** **^(JUL16 1p FEB 5 5.5p)** **^(FEB26 3p)** **^(JUL16 1.5p FEB 5 6p)** **^(FEB26 3.5p)** **^(JUL16 2p FEB 5 7p)** **^(FEB26 4p)** **^(JUL16 2.5p FEB 5 8p)** **^(FEB26 4.5p)** **^(JUL16 3p FEB 5 9p)** **^(FEB26 5p)** **^(JUL16 5p FEB 5 10p)** **^(FEB26 5.5p)** **^(JUL16 5.5p FEB 5 11p)** **^(FEB26 10p)** **^(JUL16 6p FEB12 0.5p)** **^(MAR19 1p)** **^(JUL16 7p FEB12 1p)** **^(MAR19 2p)** **^(OCT15 1p FEB12 1.5p)** **^(MAR19 3p)** **^(OCT15 4p FEB12 2p)** **^(MAR19 4p)** **^(OCT15 6p FEB12 2.5p)** **^(MAR19 5p)** **^(NOV19 3p FEB12 3p)** **^(MAR19 6p)** **^(21JAN2022 0.5p FEB12 3.5p)** **^(MAR19 10p)** **^(21JAN2022 1p FEB12 4p)** **^(16 APR 0.5p)** **^(21JAN2022 1.5p FEB12 4.5p)** **^(16 APR 2p)** **^(21JAN2022 2p FEB12 5p)** **^(16 APR 4p)** **^(21JAN2022 3p FEB12 5.5p)** **^(16 APR 5p)** **^(20JAN2023 2p FEB12 6p)** **^(16 APR 5.5p FEB12 7p)** **^(16 APR 6p FEB12 8p)** **^(16 APR 7p FEB12 9p)** **^(16 APR 8p)** + +# The following graph is the build up of Open Interest on these puts over time. + +This is the total puts opened since January, ignoring expiry. It assumes 100 phantom shares were indeed created for each of these suspicious put contracts. **Of course, market mechanics and the level of callousness of the naked shorter dictate that in reality, that number can be anywhere between 1 and 100, and as of now, we have no way of determining which. My suspicion is on the same side of 50 that yours is on, but there will be more data in a second to explain why.** + +https://preview.redd.it/cee6038xhmv61.png?width=1090&format=png&auto=webp&s=2d542ab16abd4eaea4fc19a0e7148748865a7032 + +**If it is indeed true that between 1 and 100 phantom shares were created corresponding to every put, then between 1,277,520 and 127,752,000 phantom shares of GME have been created between 11th of January and 9th of April.** + +Full sheet: + +https://preview.redd.it/tc4h4u8yhmv61.png?width=5498&format=png&auto=webp&s=a8c984519d00214ba8f79a97dbeda369894fee07 + +What else is new? + +# 2. Out-of-this-world Put Trading Volume 3 & 4th March + +Going back through all these suspicious expiries, something else cropped up. On a range of them, several days had spikes of **trading volumes that far exceeded the put open interest**. + +Exceeded how far? + +As far as **232,364 traded volume to 1,155 open interest**. The equivalent of total open interest changed hands every few seconds in blocks of 500. This happened to a range of puts: + +https://preview.redd.it/j04nmdazhmv61.png?width=814&format=png&auto=webp&s=9280454ad86b90bc754c6f4001e0becebf9ca8b2 + +This activity crops up on some other days, but not to this level. + +# March 3rd and 4th were real anomalies: + +[Options Trading volume suspicious on grounds of volume far exceeding Open Interest, 11JAN-8APR](https://preview.redd.it/9cgf0820imv61.png?width=1676&format=png&auto=webp&s=838e0f8dee643447bb7081871f462c02fbb06955) + +# How out of the ordinary is this? + +**Between MAR 3 & 4, a total of 1,676,236 contracts changed hands, both calls and puts.** + +**This activity constituted 1,094,004 — or 65.26% of the options trading activity on GME for those two days.** + +The next day, March 5th, there were only 388,638 contracts traded in total, even though it was a Friday. + +All of this volume on March 3 & 4 happened across these strikes: + +**^(9 APR 5p, MAR19 4p 26 MAR 5p, 1 APR 5p, JUL16 2p, JUL16 2.5p, 16 APR 1p, 16 APR 1.5p, 16 APR 2p , 16 APR 2.5p, 16 APR 3p, 16 APR 3.5p, 16 APR 4p)** + +**So what the hell is this?** + +I’ll tell you what it is not: + +It is not any HFT, algo trading, scalping or **any way to make money.** One look at the transactions on the 9 APR $5 puts proves that: + +**1,256 9 APR $5 put contracts were open after the trading session on 4-MAR-2021** + +**But 232,364 5 APR $5 puts traded during the session of 4-MAR-2021:** + +https://preview.redd.it/6r9lx2k1imv61.png?width=645&format=png&auto=webp&s=e32b0fcb192aa8fb5c6ae232a19245a17b31ac53 + +**— 230,009 traded between 13:56:14 and 14:51:40** + +# — 229,997 traded at the same price, of $5 per contract. + +Similar is true on other strikes with this unusual volume. **There was no profit opportunity here.** **The benefit had to be a regulatory / loophole one.** Why else would somebody generate “worthless” activity that exceeds the average option trading volume a couple times? Is this another way to reset FTD and buy-in obligations, like the deep-ITM calls? I believe contextualizing these spikes within the timeline helps us understand what they can be: + +&#x200B; + +[A hint, perhaps.](https://preview.redd.it/cd6hrrp2imv61.png?width=1680&format=png&auto=webp&s=c37d6f2736ea4d8770e99a2472cee393498e7d63) + +# The Weird Coincidence + +It is a good thing that composing this DD took a few days longer than planned. While watching some brainless TV, a lightbulb moment launched me from my seat. + +What if I were to compare my two charts, and take the: + +The Max Amount of Phantom Shares related to Open Interest up to MARCH 2nd… + +And compare it to the Volume of the March 3 and 4th Put Volume spike. + +https://preview.redd.it/hvfk30g3imv61.png?width=961&format=png&auto=webp&s=4b1ecb4d6583d9272e54631e99c88e4df53a3116 + +**Those two numbers fit within each other almost perfectly.** + +**So now, let’s get the SEC to tell us why this data is nothing to worry about.** + +Because as a retail investor in GME, I am mortified. + +The possibility that there are 127 million phantom shares on top of the rightful 70 million, does not fill me with confidence in the US stock market. + +**Gary, pls fix.** + +\--------- + +# ELIA ATTEMPT as requested: + +1. Interestingly, **GME has abnormally high number of puts open out of all stocks**. It has more puts open than stocks that have billions and billions of shares. +2. Interestingly, **most of those puts are placed on "worthless" puts** \- around $0.5-10 strike prices, meaning bets that you will profit from selling shares of GME at $0.5-10. **Nonsensical bet to make. Let alone to make a million of these bets**. +3. Most interestingly, **those bets, hundreds of thousands of these puts, were primarily made during the January price run-up**, which makes them even more non-sensical. +4. There are proven incidents of married puts being used to mislabel or enable transaction that naked shorted a stock - creating phantom shares. **They worked differently than they seem to do here**. I can't say if this is the same thing. +5. All I know, is that there were **1,277m of these puts opened since January**, and most of the time, they haven't been traded. The party who creates/purchases these new puts has an incentive to hold them, other than financial. **It is my suspicion that each one of those puts corresponds to between 1 and 100 synthetic shares of GME being created**. +6. Interestingly, **on 3&4th of March, 1,094m puts were traded on strike prices that had 1000-6000 open interest**, making it highly suspicious. GME would get maximum 500-800k option trading volume across two hot days. 3&4 of March, they get 1.6m+, with 65% of it being this seemingly nonsensical activity. **All of the puts traded at the same price, offering no profit opportunity**. None of those puts remained open at the end of the day. It is my suspicion that **somehow they are being used to reset FTD and buy-in obligations**, in a similar fashion to the deep-itm calls. +7. **The number of puts opened from 11 Jan until the 2nd of March, the day before the trading spike was 1,096m. Those two numbers fit within each other to 99.75%.** + +**What a curious story.** + +\------ + +**Courtesy of the ape's donations, I am researching and writing about GME full-time. You can find all of my published pieces in my profile, as well as a link to support the project, which one-day will become a book combining the timeline of empirical DD intertwined with my own personal story. I sold a car to average down, so that half should be interesting, too.** + +\------ + +## If you have relevant knowledge and want to help, please use this formula to make your suggestions: + +1. Link a source to any factual claims, publications, DDs, or data you reference while making your point. +2. Please mark all of the following in **bold**.— **Speculation / Theory:** + +— **My personal opinion:** + +— **Relevant DD / working theory / publication** + +— **Relevant data** + +We are a generation of skim readers and 7-second attention spans, please mark the boundaries where quoting turns to speculation! For example: + +***Speculation:*** *It could be X or Y, bla bla, bla. You can read about X in* ***this DD*** *(link).* ***My personal opinion*** *is that it’s more likely Y because so and so.”* + +**This is extremely important.** This is my full-time activity now and I’d hate to introduce confusion to the community, and I’d hate for the comments on my posts to do that. Feel free to comment whatever you like, but PLEASE, if you want to engage in discussion about what this data means, use the above formula. You will be helping big and small apes alike, and that is what we are all here for, isn’t it? +This is an update from my post last week, which can be found here: https://old.reddit.com/r/Superstonk/comments/nhyzk0/been_waiting_for_this_opportunity_trade_fuckery/ + +Ok, this morning's first 15 minutes was a pretty good control sample, as it shows a big price push down, bouncing off $180, then passing it, then beginning the push down again: + +|**Time of Candle**|**Trades on ATP**|**Trades after Refresh**|**Difference**|**Percentage Reduced**| +:--|--:|--:|--:|--:| +|9:31|62017|47494|14523|23.4177725| +|9:32|35201|21588|13613|38.6721968| +|9:33|15957|7631|8326|52.1777276| +|9:34|18425|11042|7383|40.0705563| +|9:35|25073|14704|10369|41.3552427| +|9:36|22255|11749|10506|47.2073691| +|9:37|17498|11244|6254|35.7412276| +|9:38|28760|15725|13035|45.3233658| +|9:39|23932|14480|9452|39.4952365| +|9:40|14076|6563|7513|53.3745382| +|9:41|32794|26629|6165|18.7991706| +|9:42|48134|32105|16029|33.3007853| +|9:43|28487|18950|9537|33.4784288| +|9:44|14718|7487|7231|49.1303166| +|9:45|13919|7091|6828|49.0552482| +|**Total for window**|**401246**|**254482**|**146764**|**36.5770625**| + +This is about on par with what we saw last week, with just under 37% of the trades vanishing after refresh. So I decided to hit up a stock with a lot higher trade volumes to compare numbers, Apple ($AAPL). Here's the window between 10:01-10:15 + +|**Time of Candle**|**Trades on ATP**|**Trades after Refresh**|**Difference**|**Percentage Reduced**| +:--|--:|--:|--:|--:| +|10:01|252081|240725|11356|4.5049012| +|10:02|320787|276759|44028|13.7249951| +|10:03|199885|172327|27558|13.7869275| +|10:04|175573|169053|6520|3.713555| +|10:05|150771|133583|17188|11.4000703| +|10:06|175718|164578|11140|6.3397034| +|10:07|199828|184506|15322|7.6675941| +|10:08|129564|116786|12778|9.8623074| +|10:09|106396|96046|10350|9.7278093| +|10:10|203350|179306|24044|11.8239489| +|10:11|167812|153704|14108|8.4070269| +|10:12|162080|148363|13717|8.4631046| +|10:13|346861|318963|27898|8.0429913| +|10:14|347597|307469|40128|11.5444034| +|10:15|208156|188038|20118|9.6648667| +|**Total for window**|**3146459**|**2850206**|**296253**|**9.4154413**| + +So, as you can see, there are still corrections... but significantly less so, by percentile. However, one has to acknowledge the possibility that the low trade volumes of GME are making a theoretically "standard" number of corrections per minute seem more statistically intense. So I found a stock with significantly LESS trade volume than GME, Costco ($COST). Here are the results from 10:31-10:45: + +|**Time of Candle**|**Trades on ATP**|**Trades after Refresh**|**Difference**|**Percentage Reduced**| +:--|--:|--:|--:|--:| +|10:31|7027|3284|3743|53.2659741| +|10:32|5578|2600|2978|53.3883112| +|10:33|3921|1700|2221|56.6437133| +|10:34|5073|2954|2119|41.7701557| +|10:35|2049|1000|1049|51.1957052| +|10:36|3167|1912|1255|39.6274076| +|10:37|1420|648|772|54.3661972| +|10:38|1720|645|1075|62.5| +|10:39|1249|100|1149|91.9935949| +|10:40|1477|652|825|55.8564658| +|10:41|1760|200|1560|88.6363636| +|10:42|2420|1056|1364|56.3636364| +|10:43|3190|2000|1190|37.3040752| +|10:44|1459|651|808|55.3803975| +|10:45|2905|1600|1305|44.9225473| +|**Total for window**|**44415**|**21002**|**23413**|**52.7141731**| + +This is extremely low trading volume, and it seems to support the idea that the lower the trade volume is, the more likely the refresh is to be significantly different than the live data (holy shit, 10:39). But now I have entirely new questions, primarily, why are these always balancing down? There was one minute candle for GME last week that went up. If this were theoretically the effect of balancing trades and settlement from minute to minute, one would assume that the trades would come to roughly even over a segment of time (i.e., one minute lower than displayed live, one minute higher, etc.). So what the fuck is going on with HALF of the trades on this stock? + +At this point, I'm really begging someone else with more trade settlement and reporting API infrastructure knowledge to let me in on what the fuck is going on here. I understand that there is expected to be some difference in accuracy between free trade tracking apps and a bloomberg terminal, but if the statistics that we retail traders are getting are off by *LITERALLY HALF,* how are we supposed to make any reliable trades? How is it possible that the trade volumes even on something as enormous as AAPL can be off by almost 10% as an average? *WHERE ARE THE FUCKING TRADES GOING?* + +Edit: Clarity. +I made 6x my initial investment through consistent proper trading. Withdrew half of my account and was basically trading without risk (this was my thinking). + +One day I’d set a milestone for myself to reach. It was either trade 5 times with minimum risk or make 1 trade and go celebrate. + +The next day once the market made its moves I found that my account was nearly blown (so you can imagine which decision I made the previous day). To recover from my biggest loss, my brain told me to make multiple trades. Now I’ve blown my account. + +Now I don’t get sad(well maybe a little). I don’t quit but I take a break. Go back to the demo and relearn my lesson a thousand times if need be. For when I come back I will be better than before. +NVDA market cap: $535,91B + +TSM market cap: $517,93B + +ASML market cap: $333,46B + +INTC market cap: $213,92B + +I fully realize that the term "semiconductor" is no more perfectly accurate for NVDA as it has been expanding heavily on the software side, yet that software is based on them selling chips so I still think its the correct category of industries for NVDA and a very interesting observation of what the market thinks the future of these companies holds. +As a child, my wife's family lived next door to a couple that had no children, but loved having the neighborhood children over all the time. They were like grandparents to many of the neighborhood kids. They both passed away over the last few years, in their mid 90's, him first then her this spring. My wife chose some specific mementos from the estate, but did not expect any financial inheritance. We received a call today from the executor of the estate that there is an annuity with my wife listed as the beneficiary, and gave us some contact info for the insurance person to speak with. The executor doesn't know the amount or any of the details, but seemed to think that it's a straightforward process where we contact the insurance guy and he'll have us fill out some paperwork and cut a check. + +Is there anything else we should know going into this process? Does anyone know what a typical value range for such an annuity might be? Thanks! + + +**Edit**: Just spoke with the insurance guy. It seems that the annuity was created with $5000 initially, but has grown through the years to $23k+. He indicated that the growth will be taxed as income, and we'll get a 1099 at the end of the year for that. The only option he has is to disburse a lump sum, since in the policy only a spouse can continue the payments, but since we're in-state he'd be happy to work with me if we're interested in buying a new product. The only snag is that my wife's last name changed when we married, and is no longer the same as what's listed. He's looking into that and will then get us the forms to fill out. Overall, seems pretty straightforward. I appreciate all of your responses, and now know a lot more about annuities than I did yesterday. + +**Edit 2**: Seems that we'll just need to send in a copy of our marriage license along with the claim form. +I need the help of someone more knowledgeable than me. There are a lot of posts asking for suggestions on what to buy, but I was not able to understand the difference between the following ETFs. + +Between IE00B4L5Y983 (iShares Core MSCI World UCITS) and IE00BK5BQT80 (Vanguard FTSE All-World UCITS). + +Between IE00BKM4GZ66 (iShares Core MSCI Emerging Markets IMI UCITS) and IE00B4L5YC18 (iShares MSCI EM UCITS). + +Thank you! +Hey everybody! The mods feel that the coronavirus “how should my investments handle it?” threads are too much, so we’re going to be locking existing ones, removing new ones, and encouraging you to comment on a stickies thread about investing through this time. Thanks for your cooperation, and stay safe out there. + +Please use modmail to complain if you think a post was incorrectly locked. +So i am an 18 years old teen, with some base experience in trading (some patterns, trend lines, support and resistance, etc). I know that trading is not a get rich quick scheme, and in fact , my first goal is to make a living(around 20$ a day, something like that, in my country that s more than enough) so that i can avoid going to work, and have more free time so i can focus on the learning process and become a pro in the next couple of years. I try to learn and find valuable information everywhere (mostly youtube). Most "professionals" that i found and gave me the hope that i can learn from them turned out to be fake and only selling courses to obtsin money, such as g7fx (found a web page that literally exposed him as a fake guru) and the duomo iniative (again, just like nerav vadera aka the g7fx guy), so now i lost hope in professional traders that i can learn something from and i feel lost. +So, does anyone have a valid source where i can learn at least basic trading from? (Basic knowledge so that i can atleast achieve my goal of earning around 20$ a day but most importantly HOW TO NOT LOSE MONEY)? +I'd appreciate any help. +Thanks +The numbers are percentages of the underlying's current market price. Negative strikes are ITM, positives are OTM. + +Strike | Premium +:-- | --: +-5% | 6.04% +-4% | 5.12% +-3% | 4.23% +-2% | 3.39% +-1% | 2.61% +0% | 1.92% +1% | 1.35% +2% | 0.89% +3% | 0.56% +4% | 0.34% +5% | 0.22% + +So if you sell any SPY CCs above those premiums, theoretically it should be your profit. As we all know, past performance 100% guarantees future results, especially from an overfit backtest done by an internet stranger. + +There's a lot of skewness in the numbers from snapback rallies (if you take out just the July 1932 50% rally, the break even premiums improve by about 0.03%). So if you want to increase your results, don't sell covered calls DURING a market crash. + +Edit: Tables are hard. +For those that don't know OmiseGO has recently just started trading after reaching the fundraising cap during presale so unfortunately their was no ICO. It's the only ICO I've been involved in and it's shaping up to be very good indeed. + +http://i.imgur.com/n6H5ye1.png +Taken from the OmiseGO slack, Jun confirms that they are working with McDonalds in Thailand which is soon to be announced ... J is the founder and CEO of Omise. + +This is one of only 2 projects that Vitalik is advising on and he's great friends with Jun himself. Take a look at the project [here](https://omg.omise.co/), many big things are to come from OmiseGO, get in whilst it's cheap. + +Just started trading on [Liqui](https://liqui.io/#/exchange/OMG_ETH) and already the #1 eth token being traded, expected to be listed on many other exchanges shortly. + +It's also just been announced that Bitfinex will be supporting as of today ! +https://www.bitfinex.com/posts +Yo so the title pretty much tells the story lol but my broker called, (for the first time mind you,) to ensure I diversify my portfolio. I declined and instead said I have diversified my broker's on the same stock lol + +The man was quick to tell me to take what you all say with a grain of salt, to which I said I'm a big boy and to mind his business! + +This makes me hella bullish! They didn't call me in January nor did they call in March or June lol biiig things coming! + +Obligatory 🚀🌙🇦🇺🦍 + +Edit: stock pushed was "robindahood" various crypto and to copy "professional" investors. I said it's funny how insiders of the thieving button breakers dump shitloads at IPO and it skyrockets....? + +Edit 2: broker is etoro.. also shiiiit never thought id get traction like this, happy ape! Thanks for awards and updoots xox +Tl;dr: Already knowing I was underpaid, and waiting for the opportunity to discuss a pay raise with my boss, I found out that a coworker in the same position with the same credentials is making almost twice what I make. + +Story: I began working at a research facility last April as an administrative assistant making $11/hr. I was promoted to a position as a clinical research assistant in August of 2016 at $14/hr, with promise that in a year I would have the opportunity to move up into a research coordinator position, and receive a raise. Meanwhile, I received my bachelors degree in December 2016. + +Fast forward to one year later. I have been given all of the responsibilities of not one, but two coordinators, as we are very understaffed. I am working overtime each week to tackle my work. I have yet to receive a raise. At my quarterly review two months ago, I was told that corporate was not approving any raises at this time, and that maybe after August or so (our highest revenue season) I can expect a pay raise. Still no title change to coordinator, despite having the work of a coordinator, and being referred to as one in all company communication. + +So, yesterday my coworker confused in me that she makes $24/hr. She was hired 6 months after I was, and, like me, had relevant experience, but no coordinator experience. We both have bachelors degrees. We work the same position with the same job duties. I make $14/hr. + +So, I guess the advice I am looking for is how to approach my boss about this outrageous difference in pay, and why I am not being fairly compensated. My boss is VERY big on not disclosing pay with fellow employees, and I understand this completely. However, I did not ask my coworker how much she makes, she simply told me. And now I cannot un-know. + +I have never had to discuss wages with my employer, and this may not even be the best subreddit to ask for help on this in, but I will take all of the advice I can get. +Currently not as fat as I’d like and not ready to retire just yet. I’m about 4 years away. $450k salary between wife and I, about $1m in cash plus investments etc. + +Part of how we got here was by staying in a small house with low monthly payment and paying a few hundred dollars a month extra on a low interest rate. + +Due to COVID, we’re both now working from home and now we’re no longer tied to our current location. + +Our plan was to move in the next year or so. Inflation and potential interest rate hikes have me a little concerned with how to approach the purchase. + +My prior plan was to put down a healthy deposit and finance the rest, leaving the bulk of the money in the market. Not sure how to think through it now. +Whilst the US has roared to ATH levels, there still seems to be a lot of upside potential in the UK stockmarket. I'm curious to get everyones thoughts on what the most attractive UK stocks are right now and any comments on the ones I am looking at below: + +Banking: Barclays (**BARC**) and Lloyds (**LLOY**) - surely these are stalwarts that will recover over the next 12 months? + +Gambling: GameAccount Network (**GAN**) - recent IPO which looks like it will become a key player in supporting the gambling industry, which is poised for a lot of upside with the return of sports + +Hospitality: Cineworld (**CINE**), Marstons (**MARS**), Youngs & Co Brewery (**YNGA**), Mitchells & Butlers (**MAB**), Hollywood Bowl (**BOWL**), The Gym Group (**GYM**), Greggs (**GRG**) - these have already jumped up a lot this week with optimism on reopening the economy, so surely these will continue to rise over the summer? + +Travel: Carnival Cruise Lines (**CCL**), easyjet (**EZJ**), Ryanair (**RYA**), International Consolidated Airlines Group (**IAG**) - they've rebounded well in the last two weeks so does that spell the end of the lows? + +Manufacturing: Meggitt (**MGGT**), and BAE Systems (**BA**) - surely industry stalwarts which will continue to rise steadily as the months go on +A commonality to all media stories about retirement and financial independence is the belief that people are living longer. I keep hearing this and reading this over and over. It is part of the media narrative. They must have a financial reason to keep saying this because it may or may not be true. + +If you are talking about people living longer from birth, that is false. More young people are dying young because of drug abuse and alcohol. Lots of overweight people who live a terribly unhealthy lifestyle dropping like flies in my hometown. + +[https://www.smithsonianmag.com/smart-news/us-life-expectancy-drops-third-year-row-reflecting-rising-drug-overdose-suicide-rates-180970942/](https://www.smithsonianmag.com/smart-news/us-life-expectancy-drops-third-year-row-reflecting-rising-drug-overdose-suicide-rates-180970942/) + +But what about people who are already 60+ years old and survived the many things that are killing younger people. If someone makes it to 60 are they more or less likely to make it to 90 than someone who hit 60 twenty years ago? + +(Maybe a 60-year-old today might live a few years longer than someone who it 60 twenty years ago, but it is likely just a year or two, which would not have that much impact of their success using a 4% rule.) + +ADDED: This article says that today's baby boomer will live just a couple years longer than their parents: + +[https://www.psychologytoday.com/us/blog/secrets-longevity/201105/boomers-and-millennials-misunderstand-how-long-they-will-live](https://www.psychologytoday.com/us/blog/secrets-longevity/201105/boomers-and-millennials-misunderstand-how-long-they-will-live) + +This article says: "**But a growing body of research suggests that baby boomers in their 50s and 60s are in poorer health—with more chronic disease and disability—than earlier generations at the same ages"** + + [https://www.prb.org/are-baby-boomers-healthy-enough-to-keep-working/](https://www.prb.org/are-baby-boomers-healthy-enough-to-keep-working/) +&#x200B; + +[Banner submission by u\/Yooooooo0o0o ](https://preview.redd.it/usmd0l5lurz61.png?width=2100&format=png&auto=webp&s=d1a9b99d7fe20c6fe8f07727d4be772441dd2841) + +# Good Morning Superstonk!! + +This is your Daily news, Live from San Diago! + +**Today is another AMA day! 🚀🚀🚀🚀🚀🚀🚀🚀🚀** + +\*insert flashy intro screen\* + +https://preview.redd.it/wk5junuf1tz61.png?width=680&format=png&auto=webp&s=9fcb56cf81b6b4754526a0011d418c0bb9cb17d6 + +🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀 + +# Y'all ready for another AMA?! + +*Written by* u/pinkcatsonacid 🦄 + +# [Today at 4:30 pm eastern we have Attorney Wes Christian](http://www.csj-law.com/attorneys/jchristian.html)!! + +# His primary focus in the last 11 years has been suing Wall Street for fraud. + +Wes Christian is a Texas attorney with [an accent as big as his list of accomplishments](http://www.csj-law.com/attorneys/jchristian.html)! + +&#x200B; + +[Wes Christian](https://preview.redd.it/l8sw44levsz61.png?width=170&format=png&auto=webp&s=30566ca147a7bf7d97992cfadde50a766f0526ac) + + Once again I'm going to [shamelessly plug the old documentary Wall Street Conspiracy](https://youtu.be/Kpyhnmd-ZbU), where I first learned of Wes Christian along with all of the other OGs we've been talking to. And a fun fact... our former AMA guest and very favorite resident wrinkly brain, [u/dlauer](https://www.reddit.com/u/dlauer/) has served as an expert witness for Wes multiple times in the fight against naked short selling. They go way back... + +# Which is why we're having [u/Dlauer](https://www.reddit.com/u/Dlauer/) cohost* this AMA with his old pal Wes!! We are literally assembling the dream team here!! 🚀🚀🚀🚀🚀🚀 + +**\*the AMA will be curated and hosted by** [u/Jsmar18](https://www.reddit.com/u/Jsmar18/) + +**Here's what Dr. T has to say about how she first met Wes in her book, Naked Short and Greedy:** + +&#x200B; + +Chapter 3: A Sidewalk Café in New York. At the request of a business colleague, I have coffee with a lawyer from Texas who tells me that a problem was about to blow up the financial markets: Wall Street brokers are using short sales and fails to deliver to grab the assets of American entrepreneurs. I feel a pang of guilt for not sticking it out to fix this before I left DTC in 1993. By 2003, it was a full-blown regulatory crisis! + +&#x200B; + +# The Napkin Story + +&#x200B; + +"One afternoon \[in late 2003\], my boss tells me he has just come from lunch with an old friend, Gary Jewell, a Houston-based lawyer. Gary said that he was in New York looking for someone who understands post-trade clearing and settlement, possibly someone who may have worked at the DTC. My boss recognizes the company name as part of my past work experience. He asks me to meet Gary over coffee. The two of them had run marathons in their younger days and my boss presents it to me as doing him a favor. Gary brought Wes Christian to that casual meeting. + +&#x200B; + +James "Wes" Christian, is a Senior Partner at Christian, Smith, & Jewell in Houston. If not for Wes, I may not ever have become aware that the crack in the system Ray Riley brought to me in 1993 was becoming a gaping chasm in 2003. Wes was born, raised, and educated in Texas. He comes complete with a pleasant drawl that belies his non-nonsense approach to the matter. Wes would lead a team of 65 lawyers as he eventually uncovered more than 1,200 hedge fund and offshore accounts working through more than 150 broker-dealers to strip mall and medium size public companies of their value."- Dr. Susanne Trimbath, Naked Short and Greedy. + +&#x200B; + +We are so honored, humbled, and thrilled to bring you these top-tier AMA guests! If only we could go back and tell our February selves how far we've come 💖 + +&#x200B; + +**Tune in today at 4:30 pm Eastern for the Wes Christian/Dave Lauer/Jsmar AMA mashup panel that is sure to wrinkle some brains and blow some minds!** + +# [Link to Superstonk Live YouTube](https://www.youtube.com/watch?v=2rJujnpKiqM)! + +[**Here's a countdown timer!**](https://www.timeanddate.com/countdown/generic?p0=179&iso=20210518T1630&year=2021&month=5&day=18&hour=16&min=30&sec=0&msg=Countdown%20Timer) + +# Past AMA Transcripts + +**Huge shoutout to** u/Bye_Triangle**,** u/Leaglese**,** u/Cuttingwater_**, and** u/Luridess **for their work on these bad boys! It's no easy task and they are committed to making this information accessible to EVERY APE! 🦍🤝💪** + +&#x200B; + +[Carl Hagberg AMA Transcript](https://www.reddit.com/r/Superstonk/comments/nce9kq/carl_hagberg_ama_transcriptsummary_12/?utm_source=share&utm_medium=web2x&context=3) + +[Dave Lauer AMA Transcript](https://www.reddit.com/r/Superstonk/comments/n7234n/david_lauer_ama_transcriptsummary/) + +[Dr. Susanne Trimbath AMA transcript](https://www.reddit.com/r/Superstonk/comments/n1vubv/stonky_news_special_report_dr_susanne_trimbath/) + +Lucy Komisar Transcript Coming Soon!! + +\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ + +# + +[\(x\) Doubt](https://preview.redd.it/5g0kk26vguz61.png?width=960&format=png&auto=webp&s=a095148e4801ec30845bdb183fb83245ea6e2d55) + +# Glacier Capital + +Written by u/Rensole + +Glacier capital does not exist, or at least that was the [post](https://www.reddit.com/r/Superstonk/comments/nezcn1/glacier_capital_does_not_exist/) made yesterday written by u/timmmmmmmyy + +One of the main points was that on their adres ( 44 Boulevard de Verdun, L-2670 Luxembourg ) there was no legal entity but after a quick search with google I found them registered at the adres + +[https://opendatalei.com/lei/984500BB91F55397AC42](https://opendatalei.com/lei/984500BB91F55397AC42) + +Now this may look weird as hell to be using as a hedgefund right? well no not really. + +Something a lot of people may not know is that in Europe "mailbox businesses" are fairly commonplace, this means that they have an address anywhere within europe for tax reasons (this is mostly seen in Curacao, Luxembourg and other tax haven countries). + + u/Bud_Friendguy even did a great response (which unfortunately got caught by automod and should be back up in that thread), he reverse image searched and found out that the images don't match up with the names, so all in all the company may be a real company, or a subsidiary of a bigger company located in Luxembourg. + +&#x200B; + +\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ + +# SEC is Slinging Dough (if you make that whistle blow) + +*Written by* u/pinkcatsonacid 🦄 + +&#x200B; + +[2 different whistle blowers got PAID](https://preview.redd.it/6sfeqxvmksz61.png?width=570&format=png&auto=webp&s=4948233659d352fa2a50005d8287d1f14f3ebe23) + + + + *"In the first order, the SEC awarded almost $27 million to two claimants who provided SEC staff with new information and assistance during an existing investigation, including meeting with the staff in person on multiple days.  Their information and cooperation helped the Commission bring the enforcement action, which resulted in the return of millions of dollars to harmed investors.* + + *In the second order, the SEC awarded one whistleblower an award of approximately $3.75 million and the other whistleblower an award of approximately $750,000.  While both whistleblowers independently provided information that assisted SEC staff in an ongoing investigation, the whistleblower who received the larger award provided information and assistance that was more important to the resolution of the overall case.*"- [source](https://www.sec.gov/news/press-release/2021-85)  + +&#x200B; + +So it looks like the SEC has yet again awarded several lifetime supplies of cash to a few whistle blowers. This time it looks like it's been split up between 3 different people, 1 getting a HUGE FREAKING PAYOUT OF $27,000,000! How tf can there be this much corruption going on right now, that it's worth THAT much money, yet we know nothing about it, and probably never will? I'm starting to think the whistle blower program is probably a money laundering scheme too, at this point... + +https://preview.redd.it/nlksgbvt5tz61.jpg?width=840&format=pjpg&auto=webp&s=18bf115b8e10e0ca0960d15c877f93201e373480 + +\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ + +# GME Back to Largest short value and hardest to borrow + +Written By u/rensole + +The thread is fairly self explanatory so give it a quick read + +[https://www.reddit.com/r/Superstonk/comments/nel0dg/gamestop\_ibkr\_slb\_report\_update\_asof\_514\_gme/](https://www.reddit.com/r/Superstonk/comments/nel0dg/gamestop_ibkr_slb_report_update_asof_514_gme/) + +&#x200B; + +https://preview.redd.it/cx6lufabiuz61.png?width=640&format=png&auto=webp&s=1be946b2e86ab61400988077d8894e07fdad96fa + + \_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ + +# FINTEL 13-F FILING/SHORT UPDATE + + written by u/rensole + +A thread got posted by u/Mikeymikers0n [here](https://www.reddit.com/r/Superstonk/comments/ner3cx/fintel_13f_filingshort_update_welcome_to_the/) + +&#x200B; + +https://preview.redd.it/lhsf5sa6huz61.png?width=3698&format=png&auto=webp&s=01f2d9db67c2c2fb3e12f4d29a973c6a0fbedcc7 + +Seems that our friends over at Citadel have almost doubled their bet against us, let's do it kenny, I'll call your bluff. + +The one thing that did caught my eye is that Melvin is no longer on this list (maybe it still needs to be updated?), but it could also be possible they have "closed" their positions, or shifted it in long otm options, or even shifted to another subsidiary of theirs. it's just something interesting imo and we should/could look into this. + +As the DTCC said they didn't force anyone to close their positions in January it's very interesting to find out were they all went. + +&#x200B; + + \_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ + +https://preview.redd.it/u6dw5wheiuz61.png?width=640&format=png&auto=webp&s=2f48684af767568bfe811d73472640d1b57977c2 + +# I love you, but I don't like you + +Written by u/Rensole + +This was tweeted yesterday by the man with the plan RC yesterday. + +It seems that others have found that its a reference to the song + +# [Smokey Robinson & The Miracles - You Really Got A Hold On Me](https://www.youtube.com/watch?v=AdDnqSFYXFs&ab_channel=latacabre1) + + + +\-----> **I don't like you, but I love you** +Seems that I'm always thinking of you +Oh, oh, oh, you treat me badly +I love you madly, you really got a HOLD on me +You really got a **HOLD** on me, +you really got a **HOLD** on me, +you really got a **HOLD** , baby +I don't want you, but I need you +Don't want to kiss you, but I need you +Oh, oh, oh, you do me wrong now +My love is strong now you really got a **HOLD** on me +You really got a **hold** on me, +you really got a **hold** on me, +you really got a **hold**, baby +I love you and all I want you to do is just **hold** me +**HOLD** me, **HOLD** me, **HOLD** me + +Tighter +Tighter +I want to leave you, don't want to stay here +Don't want to spend another day here +Oh, oh, oh, I want to split now, I can't quit now +You really got a hold on me, you really got a hold on me, you really got a **hold**, baby +I love you and all I want you to do is just hold me, please +\-----> **Hold me, SQUEEZE, HOLD me, HOLD me** +\-----> **You really got a HOLD on me** +\-----> **You really got a HOLD on me** +\-----> **I said you really got a HOLD on me** + +Again this could be fully coincidental and his granny just really loves this song, but on the other hand it seems like a reference like usual, and just like the "MOASS Tweet" it was "sent from Iphone" while the rest on the official GME twitter was sent by their salesforce. + +Could be something, could be nothing. + +&#x200B; + +https://preview.redd.it/shj28kyyjuz61.png?width=400&format=png&auto=webp&s=41ac20c8b2dae11dde64396c24cabf00eb27e18a + + \_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ + +&#x200B; + +# Hello $180, my old friend + +&#x200B; + +[It feels good to see you again](https://preview.redd.it/nmtohouxksz61.png?width=1080&format=png&auto=webp&s=372e23c8f467ee0c962d25af4451b5aba580aaed) + +Green crayons for the class!! + +\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ + +# [Don't forget to Rock the Vote](https://www.reddit.com/r/Superstonk/comments/n6isp6/rock_the_vote_proxy_voting_101_the_most_important/?utm_source=share&utm_medium=web2x&context=3)! + +*written by* u/pinkcatsonacid 🦄 + +&#x200B; + +[Awesome artwork by u\/Bye\_Triangle ](https://preview.redd.it/jq6vi03zvsz61.png?width=1000&format=png&auto=webp&s=48e911fc3f0c10aee218428b4fdd44ff4a534dac) + +# Vote your shares and get your flairs! + +**Type !apevote! if you voted and want to show it off with a custom vote flair!** + +**And if you tried to vote but couldn't because the system is crooked, type !novote! for a custom attempt vote flair!** + +If you're in the !novote! club, you HAVE TO read this post from Carl Hagberg regarding those who are struggling to vote their shares. + +&#x200B; + +\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ + +&#x200B; + +https://preview.redd.it/n2u4ebgfsrz61.png?width=554&format=png&auto=webp&s=11a5166dde1822236a452aac526d9bdee9d55e1d + +# Excellent! + +**Be excellent to each other!!!** + +Be friendly, help others! + +We are here from all different walks of life and all different countries. + +This doesn't matter as we are all apes in here, and apes are friends. + +Doesn't matter if you're a silverback a chimp or a bonobo. + +We help each other, we care for each other. + +**Ape don't fight ape, apes help other apes.** + +**This helps us weed out the shills really fast, because if everyone is helpful, the ones who aren't stand out.** + +Remember the fundamentals of this company. + +There is no sense of urgency, this will come when it comes, be a week, be it a month be it six. + +We don't care, just be nice and lets make this community as Excellent as we can. + +&#x200B; + +https://preview.redd.it/7vjjds6wvsz61.jpg?width=960&format=pjpg&auto=webp&s=060d6a41a94c95e611b5651a815334e027a580ae + +&#x200B; + +Mods have carefully considered what to do during a reddit blackout and advise the following - IF REDDIT GOES DOWN AT A PIVOTAL MOMENT go to the team's socials to look for additional instructions on where to muster (these are the most active twitter accounts on the mod team at this time!). And check in on SuperStonk's YouTube Channel for an Emergency Broadcast, if necessary. + +&#x200B; + +[https://twitter.com/RedChessQueen99](https://twitter.com/RedChessQueen99) + +[https://twitter.com/PinkCatsOnAcid](https://twitter.com/PinkCatsOnAcid) + +[https://twitter.com/rensole](https://twitter.com/rensole) + +[Superstonk YouTube - Emergency Broadcast System](https://www.youtube.com/channel/UCI4EET9NJPWxUuXGlG6fxPA) + +&#x200B; + +# 🚨 ... AND VOTE YOUR SHARES!!! 🚨 + +&#x200B; + +[**Rock the Vote!**](https://www.reddit.com/r/Superstonk/comments/n6isp6/rock_the_vote_proxy_voting_101_the_most_important/) **💪** +Seeing several posts about various outlets who have time and time again shown their hand in what they represent (or don’t represent) in financial media coverage, specifically with GME. While one could argue the attention is good, remember how they have been self serving first and foremost. It is not a sudden shift in sentiment towards GME that comes without reason. Expect sentiment rug pulling, price anchoring, anything… in other words expect fuckery (same as it ever was). + +Media personalities have their own agendas: book sales, ad revenues, clicks, etc. That doesn’t even touch on potential conflicts of interest. + +This is not a political post. This is not even going to single out any one or two news outlets. This subreddit is not political and I guarantee that there are people of every walk of life hodling GME… hence apes. Keep politics out of the sub and if you see arguments occurring… not everything is what it seems. State that this is a sub about GME and the company, Ignore, report, move on. Joining in will only fuel flames. +Hodling ADA is like you're eating at a 5 star gourmet restaurant where Gordon Ramsey (Charles Hoskinson) is the chef. Its renouned worldwide . Bottles of wine start at $500. All that to say that the food should be amazing. Only for you to be served chicken tendies and soggy fries from the kids menu. + +You look around then down at your plate. "I thought this was supposed to be good?" You think to yourself. + +Here comes your buddy, the guy who invited you to the restaurant. (Put in his entire life savings in at $0.35) + +"Told you this place is the shit bro." Your buddy says as he sits down and is served a TV dinner from Banquet. + +"Oh yeah the food isn't great... right now. But wait until later trust me bro." He says as he starts to unwrap the plastic film with a big grin on his face. + +Just as you were about to take a bite of your tendie Allincrypto sits down at your table. "Sup boys, Allincrypto here." Then immediately takes a bite of a turd Charles Hoskinsin layed on his plate. + +"Oh my favorite!" He says as he leans forward and eats the log apple bobbing style with no hands. + +"Don't think about your food now. Think about the filet mignon of tomorrow." As he goes in for another bite. + +Disgusted, you look out the window at a run down diner across the street. You peer into the window and see families laughing and having a good time. You see the waitress walk over to the table with what looks like a bacon cheeseburger and a new york strip steak. + +"Wow that looks pretty good." You mutter to yourself. + +Just as you say that Allincrypto and your buddy surround you. + +"That place is so shit." They say in unison as they both proceed to shut the curtains from each side. + +Right before the curtains fully close you look up at the neon sign above the diner. It reads "Ethereum diner" + +You turn around and stand up. Everyone in the restaurant has stopped eating and is glaring at you in complete silence. + +"Hail Hydra" they start chanting. + +They all get up and start to surround you while still chanting "Hail Hydra" + +A woman shouts from the back, "Hydra will save us! Kill the non believer!" + +"Im sorry! I will eat my tendie please don't hurt me! That place across the street sucks." But it doesn't work and they proceed towards you slowly. You shut your eyes and prepare for the worst. + +You suddenly wake up in your bed. + +"Omg it was a dream. Thank god." You think to yourself. + +You pull out your phone to look at your portfolio. + +$10,000 bought at $2.68. Portfolio down 69.420% + +You walk over to the bathroom and catch a glimpse of yourself in the mirror. You smile with a tear rolling down your cheek. You notice your teeth are smeared with shit. + +"I wouldn't have it any other way." You think to yourself. + +You proceed to go on Reddit to post about the new Solana outage and check what new features are coming soon to Cardano. + +You look right into the camera. After a long pause you smile and shout "Hail Hydra" at the top of your lungs. + +The camera zooms away from your face and out of your RV thats parked in front of your step dads house and the credits start rolling. + +Fin +It is simple, it is ILLEGAL 👀 activity and they can't SPEAK 🤐 about it most likely because INVESTIGATION is ONGOING, and if they did speak about it, it would hurt the INVESTIGATION . It is HIGHLY SOPHISTICATED financial CRIME, and they need to have SOLID EVIDENCE before they bring people into questioning, also questioning would be behind closed doors and we only will find out about the details after they can PROVE it, there's alot of people bashing GG after he's been with us just for 3 weeks, investigation takes time, but anyways that's just my opinion and we should stop discussing this matter because it's causing FUD, Hodl my fellow APES and APETTES , and remember DFV is holding with us! 💎 👐 + +Edit: also they can see that we are stressed about the conversation so they can easily use it against us to spread further FUD + +Edit 2: there's a lot people saying that naked shorting is legal and stuff, what I mean about the investigation that there's more to it than naked shorting, the whole thing is so complex it's not easy to untangle all the mess, I am more than confident that they working on it, there's a big reason we having these meetings, conferences, sec rules setting in place ect, imo they only showing us that they doing what they can without making USA financial system look not credible to the rest of the world, remember these hearings are online and they will be there untill Internet Exist, 🚀🚀🚀 + +Edit 3: thank you for awards apes, I convert them into gme shares 🚀🚀🚀🚀💎👐 + +Edit 4: some of us mentioning that the whole system is corrupt, let me say this + + I always think deeply about that there's two sides of a coin, with no exception, you see we constructed these financial institutions as a result of our collective Co operation, we are working on it for hundreds of years (thousands of years) , and because these systems are so highly complex there's always will be parasites 👾, so as there's always be apes 🦧, co existing with parasites 👾, it's ying and yang ☯️, one cannot exist without the other 🤔 we strive by facing challenges and eventually we own them, whatever the outcome, otherwise we would be already extinct 🤯, + +Edit 5: OK this is getting alot of up votes ⬆️, thank you so much for reading 🙏 , I'm just saying my thoughts 💭 here because I can see a lot of people are angry in this sub, so am I 😡 , but especially in the markets I'm learning to track my emotions, fear, anger, greed etc.. When I notice these emotions I try to make sense of it and no matter what, stay focused. after all this fckery I know one thing for sure, because of retail investors few businesses are saved, we already won by not letting them bankrupt GME, even if squeeze won't happen ( I think will squeeze ) value of GME will be 600 $ at minimum in the future, and what I'm trying to say by getting angry and emotional we not changing the outcome, remember why we are invested in this great company, Power to the players! +I just graduated college and got my first adult job. What can I do right now to plan for retirement? + +My situation : I just recently graduated college and accepted my first post college job. My girlfriend will be graduating in May and we will be living together once that happens (she currently lives about 2 hours away from me) + +Below is some more in depth info on our situation + +We are both 22 years old + + +**Job(s)** + +*Me:* Beginning March 2nd I will start my job as a junior consultant at one of the best companies in the area to work for. This job will be a mix of a business consultant and a financial analyst in the water treatment/ environmental engineering industry. Being that it is a junior position I would hope that I have plenty of room for growth and advancement in the future. + + +*Girlfriend:* Girlfriend will graduate with a degree in education. She is currently applying to teaching jobs and also summer jobs + + +**Income** + +*Me:* $50,000 + +*Girlfriend:* since she doesn’t have a job yet I’ll do a low estimate of $30,000 + + +**Debt** + +*Me:* $29,000 in student loans + +*Girlfriend:* $36,000 in student loans + + +**Cash/savings** + +*Me:* $10,000 in savings/checking/cash + +*Girlfriend:* $4,000 in savings/checking/cash + + +**Expenses** + +*Me:* (currently no expenses as I will be living with my parents until my girlfriend moves here. Which gives me two months to save up money.) + +*Once we move into our apartment, basic expenses will include:* + +Rent + utilities: $1300 +Food: $450 per month +Car payment: $175 +Other: $300 + +*All expenses will be split between us* + +Other info: + +* I know a big thing that is preached on these subs is to have an emergency fund. We’re not too worried about this because both of our families are in positions where they would be able to help us in an emergency situation if it was needed +* We both are responsible with credit cards and have good credit scores. Neither of us have ever missed a payment. +* I would prefer not having any debt so it’s a big deal to me to get rid of it fast + +So reddit, what can my girlfriend and I do to best prepare ourselves for retirement and saving/growing our money in the long run? Any help is much appreciated! +Despite the fact that the coronavirus has basically stopped economic activity in China, NASDAQ and DJIA continue record highs. Despite the fact that the yield curve keeps inverting, the market continues to go higher and higher. What is making this market continue to rise? The market has gone mad. +I just went from making 70 grand last year to 110k this year. Next year I’ll make around 150k. I want to start investing my money. I don’t know anything about investing. How do I get started. I know there are many ways to invest money. What is the safest most guaranteed method? Thanks in advance but the advice. +I am sure you have all heard the stories where people claim that real estate is a great way to earn extra income and always say "start small" + +What they fail to explain is... you need significant savings to purchase a property in the first place ! + +Unless you luckily inherited a plot of land .. many people do not have the extra income to "buy a small property" + +These stories never explain how to get the money for the initial investment. + +"Oh just start by selling a small property in a cheap area" + +"Oh just start buying cheap stocks" + +"Just start by renting out a cheap car " + +Ok. Where is that investment capital coming from ??! + +Like don't they realize that the kind of person who has enough spare income to take a chance on buying a house to rent... probably isn't that poor to begin with. +Disclaimer - I am sorry for all the people who have lost their jobs this last 12 months and suffered, I am conscious I’m in a position where I should be incredibly thankful and definitely am. I try to give back where I can. + +I’m terrible with money and always have been, I’ve successfully started a new job where I asked for double what I was earning and somehow got it. Now I’m on 140k with 60k HECS and 6k on credit card, and have no idea where to start or what to do. + +Any advice, all I’ve found searching is a flow chart +ThetaGangers... Here's a list of high IV stocks I made that includes market cap and RSI. I use this list to see where I'll be selling some Cash-Secured-Puts this week and I'll be posting my plays shortly. + +I usually go down the IV list, in descending order as it already is, and see if there are any low RSI names I like. + +Here's the list + +https://preview.redd.it/gd6s8pod8ar71.png?width=1632&format=png&auto=webp&s=6271b05c4f3fd5d3410ec8a3a559ffd2c069daee + +https://preview.redd.it/f4xcvcle8ar71.png?width=1630&format=png&auto=webp&s=f07fba7724c4e2cfa2489455c7e6fc4c346ba2d2 + +https://preview.redd.it/htt4jb5g8ar71.png?width=1636&format=png&auto=webp&s=e6d7819fa54d0250b818c6363a76e550ef1428f4 + +https://preview.redd.it/n7fz2a0h8ar71.png?width=1628&format=png&auto=webp&s=9560bac43f8dc97ddef684c191f420ec1da272fa + +https://preview.redd.it/01js1rbh8ar71.png?width=1628&format=png&auto=webp&s=780c2e15169243005b7297ba95269006efca218d +This is the official $GME Megathread for r/Superstonk. Please keep ALL conversations contained to Gamestop and related topics. + +**Not enough karma?** Here's a [**quick guide**](https://zapier.com/blog/how-to-get-karma-on-reddit/) on how to get it. + +# [announcements](https://www.reddit.com/r/Superstonk/wiki/index/announcements) + +* Make sure to check the Announcements regularly. 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Check the main page for the sticky post and vote now! + +**Want to learn more?** [**Check out our extensive Wiki**](https://www.reddit.com/r/Superstonk/wiki/index) **and** [**FAQ**](https://www.reddit.com/r/Superstonk/wiki/index/faq) + +Please review the [**Superstonk Rules**](https://www.reddit.com/r/Superstonk/wiki/index/rules) before commenting or posting on r/Superstonk. + +*Daily discussion threads are created at 4:00 a.m. EDT* +A quick skim through of their numbers showed me that gross and operating margins for the past decade have been more or less flat but somehow ROIC has been increasing the entire time. As an example their 2012 EBIT margin was 7.6% and ROIC was 9.2%, their EBIT margins for the most recent fiscal year were 7.0% and ROIC was 15.9%. It's trading around 16x earnings and at 13x EV/EBIT. That would warrant a premium for sure but why is it close to "fair" value at all? Anybody have any ideas? +**Disclaimer: This is not financial advice, I am not a financial advisor, please take everything I say with a grain of salt and do your own due diligence research.** + +\[Edit 1\] - Woah this blew up. Just woke up on the west coast, will try to answer questions/respond to comments. However, I do want to point out that I plan to iterate this DD as holes / counter points are brought up. Some have mentioned the recent government proposal for 40-year mortgages and link MeetKevin. I plan to address this, as I believe this is the government acting early in an attempt to prevent a mortgage collapse. Furthermore, there have been points made that I fixate on QL/RKT too much and should delve more into the full market, noted and I will. Also, some mention my Synthetic CDO links only highlight corporate debt and the market isn’t that large. I will address these as well. Ultimately, thank you for reading, and I look forward to other counter arguments so I can update the DD and validate it. + +\[Edit 2\] - Minor grammar fixes. Additional Background Information on FHA Default rates, Avg. Median US Income (after inflation), Housing Prices, and Localized issues with FHA defaults. + +\[Edit 3\] - Additional Background Information surrounding the rise in "2nd home" purchases + +\[Edit 4\] Adding detail to the 8-minute claim, it's to APPROVAL, not actual mortgage loan (thanks apes for the callout). The underlying problem though is that mortgage requestors are still relying on the mortgage lender to decide how much they can afford. That's the dangerous element. + +\[Edit 5\] Fixing Links + +\[Edit 6\] Added "OPEN QUESTIONS and Counter Arguments - I'm an ape, not a pro, and am doing this in my free time. I'm going to make mistakes, get tunnel vision, and potentially convey my point poorly at times. Thank you for everyone who is "sniff testing" this DD, and providing constructive criticism. I want to make this iterative and ensure I am coming to the right conclusions. + +\[Edit 7\] Based on the feedback, it seems like my points are getting lost. So I've added additional background points, and will be adding tie in's with future updates. + +\[Edit 8\] Tightening up the RKT section, how they fit into it, and clarifying my points. + +**OPEN QUESTIONS / Counter Arguments needing addressed:** + +I've iterated the DD based on feedback, I believe I have covered the concerns. + +(If you think I still missed your callout / want something addressed, please recomment or add a comment so I can add it / address it) + +**Everything Short Shoutout:** + +First off, hats off to [u/atobitt](https://www.reddit.com/u/atobitt/) for creating ["The Everything Short" DD](https://www.reddit.com/r/GME/comments/mgucv2/the_everything_short/). It is a good read (if you haven't checked it out). Although, like everything, don't assume it is correct. Dive in and do your own 'sniff test'. There was a follow up post "["The everything short continued updated again now"](https://www.reddit.com/r/GME/comments/mk1d99/the_everything_shortcontinued_updated_again_now/) which delves into SPACs. After reading these posts, I wanted to contribute an investigation into the nefarious mortgage market, specifically, looking at one of the shiny objects we were supposed to invest in...Rocket Mortgages ($RKT). My initial post gained traction and I was requested to do a separate DD by a few fellow Apes. Even though this relates to the mortgage markets, this does relate to $GME. + +**My Background:** + +Currently, I work for a FAANG company as a Data Engineer (my title is a bit more specific, but if I listed it, you would immediately know which company I work for). I ~~am~~ was an Econ major, with a minor in Philosophy (with a focus in Logic). I ~~spend~~ spent my undergrad life learning the in's and out's of the '07-'08 Housing Market crash as part of my Economics degree. I'm more than happy to verify my work with the Mods of r/Superstonk should they request it. + +**My Positions:** + +Read my other DD on [Posting Positions](https://www.reddit.com/r/GME/comments/ll9duv/posting_positions_dont_do_it/). However, from my previous comments, you can ascertain that I have a significant holding in $GME (without being able to specifically understand my avg. cost, total number of shares, or even calculate a rough estimate of a ceiling or floor). + +**On to the DD** + +**Summary:** + +1. **Background - The Everything Short DD / Other Background** +2. **Part I - Pre-Pandemic** +3. **Part II - Pandemic** +4. **Part III - Bringing it all together** + +&#x200B; + +**TL/DR:** + +**The fucks got greedy again, there's a massive housing bubble on top of all of this mess, and we are going to see '08 squared.** + +&#x200B; + +**Background:** + +Let's start with a pie chart that was posted in "The Everything Short" DD, which gives a good representation of how important MBS (Mortgage Backed Securities) are to the Repo market (and overall liquidity). + +As you'll see, MBS represents 19.1% of the entire Repo market, so it's important for us to understand at a Macro-level, the health of our Mortgage lenders. As you may well know, their behavior caused the most recent market crash. + +What you need to understand are that Treasury Yields are up. When Treasury Yields go up, that means higher interest rates for mortgages. When there are higher interest rates on mortgages, that means less homes sold. Less homes sold, means that mortgage lenders have less liquidity. + +&#x200B; + +[Everything Short PIE Chart - Repo Market](https://preview.redd.it/7j7zcbxxamr61.png?width=1362&format=png&auto=webp&s=7c58257264fd7c1163326b33cd1a85990b924aad) + +**Other Background:** + +[Mortgage Process \(Simplified\) ](https://preview.redd.it/yrrbblpflsr61.png?width=2432&format=png&auto=webp&s=e32b11c3731884acb1ba9caa03ddb7be0c4927e3) + +So first, some commentary suggested I didn't know how the basic concepts of mortgages work, here's a diagram of the SIMPLIFIED process. The Home Sales by Financing type breakout can be found in a chart below. + +**Important Note - Housing Prices vs Avg. Median US Income** + +A huge issue with rising real-estate prices, is the fact that [housing prices have sky-rocketed](https://www.cnbc.com/2021/03/30/federal-reserve-under-fire-as-home-prices-soar.html), whereas the Avg. Median US Income (after factoring in inflation), has remained stagnant. This means, that the underlying "asset" the median US home-buyers is purchasing, is not an asset at all, but rather a liability. Since they will require a larger mortgage, to purchase the home. + +[Median Household Income \(Adj. For Inflation is Blue Line\)](https://preview.redd.it/ylq4a5p78lr61.png?width=1201&format=png&auto=webp&s=5aec31285eab2747d37ea686874aa2799935877e) + +&#x200B; + +At a high level, when the number of borrowers increase (COVID flooded the market with prospective buyers), those who facilitate the loan (Originator / Underwriter), will take on more risk temporarily until they can sell these to the secondary market. + +&#x200B; + +https://preview.redd.it/l5qlb2c3osr61.png?width=2210&format=png&auto=webp&s=7fb9c4d48b2169f63e2bb9a4325585e03cfdf32b + +Foreshadowing, the real issue is the FHA / VA mortgages, not your typical "Conventional" mortgage. In the chart below, you'll see that these two loan types are higher than their Housing Market crash levels. + +[Mortgage Delinquencies by Type](https://preview.redd.it/kw7z980p5lr61.png?width=1416&format=png&auto=webp&s=914719aa71d688a9d5ddd74b8200011f23d26016) + +Why this is important, is because how large of the mortgage market these two loan types are (see graph below). As you can see, these's two types represent at any given time roughly \~24% of the total market. + +[Market Share by Financing Type](https://preview.redd.it/dadorhfy5lr61.png?width=1408&format=png&auto=webp&s=e636f1416712a82922769bb3679f1893abddffc3) + +&#x200B; + +However, the overall picture doesn't look too bad. Even with higher delinquency rates in FHA / VA, this still wouldn't cause a problem, seeing as the delinquency rates are low for the lion-share of the market (aka conventional). + +https://preview.redd.it/wxykny5zqsr61.png?width=2333&format=png&auto=webp&s=904daa756fbcc4d1c97854a83ac8e93462c6abc3 + +&#x200B; + +**The Issue:** + +The FHA loans alone are going delinquent in concentrated metro areas (see chart below). Once the government forbearance protection expires (Right now, this will happen around July, but they can extending and continue to do so), you'll see a flood of foreclosures coming from the FHA's. + +[Metros FHA Delinquency Rates](https://preview.redd.it/nuy71dcn5lr61.png?width=1142&format=png&auto=webp&s=b894c4aaeb49ad62b82cd0074d3612ce37d84271) + +&#x200B; + +**The Problem:** + +As you can see, the "Seriously delinquent" rates alone are higher than the national averages for FHA delinquencies. When you are in this stage of delinquency, there's a high likelihood of defaulting. So, even though there is historic demand, the supply of FHA foreclosures will have a significant impact to prices in these regions. When this occurs, housing prices will fall, when housing prices fall, refinancing / cash-out refinancing ([which are at housing crisis levels](https://www.wsj.com/articles/cash-out-refinancings-hit-highest-level-since-financial-crisis-11615458602)), will not be available in these areas. This "regional" problem will trickle a domino effect and spread to the broader market, causing more concerns ("There's a 0 percent chance you'll contain your losses at 5%"). + +TO BE CLEAR - I AM SAYING THAT INCREASED FHA FORECLOSURES IS JUST GOING TO INCREASE SUPPLY OF HOMES AVAILABLE. SUPPLY GOES UP, PRICE GOES DOWN. THAT IS ALL. + +**Compounding the Problem: Current Historic Demand isn't solely 1st Home Buyers, 2nd home properties are on the rise** + +As you can see in the chart below, over 14% of the 2020 Mortgage demand is due to "Second Home / Investor Mortgage applications". With the rise of investment / 2nd home purchases, we will struggle to meet demand, because for every 20 homes on the market 3 of them are going to an individual who already has a home. Therefore, we are most likely in an artificial shortage, due to speculative home buying. + +Factoring in FHA delinquencies, should housing prices decline as aforementioned, these "investors" will be looking to offload their newly acquired 2nd homes, as they will start to lose money on their investments, and will add fuel to the flame when it spirals. + +[2nd Home \/ Investor Mortgage Applications as a Share of All Applications](https://preview.redd.it/8ffqjck2alr61.png?width=1161&format=png&auto=webp&s=215cd9019c13c652f518a2930b7d2fc7fc0761f7) + +Therefore, when overall housing prices go down, those who are overextended by buying investment properties or 2nd homes, will also sell to cut their losses. Expediting the home value decreases in the area. As the value of the homes continue to decrease, the default risks rise (even on what would be considered "safe"). As risk levels rise, investors who buy the MBS tranches will slow (It's important to callout that the government has been buying up MBS's, but they aren't the whole pie). + +When you see a lack of investors, the middle man will have difficulty selling the mortgages they wrote. Therefore, there's a 'kink' in the process. If the middle man can't get the risk off their books, they can't issue new mortgages, and if they begin to see their "asset" values (aka mortgages to sell) fall below their liabilities, then they are in significant risk for bankruptcy. + +Also, remember, if mortgage rates rise (due to high treasury yields), demand will decrease. If demand decreases, and at the same time supply increases, value will sharply decline. + +**PART I: Pre-Pandemic** + +*Who are the biggest Mortgage lenders in the US? - The Data I will provide will be from 2019 to use as a proxy, as I do not have the 2020 figures available to me (if an Ape has them, I'll gladly update this DD)* + +Well, that's a tough question, because it's important how you slice the data... + +First, let's look at by purchase originations (aka the # of new loans) + +1. Quicken Loans (541,000) +2. United Short Financial (339,000) +3. Wells Fargo (232,00) +4. Chase (168,000) + +Okay, let's understand by $ amount (this will include, purchase, refinance, cash-out refinance, home improvement, other) + +1. Wells Fargo ($306B) +2. Chase ($177B) +3. Quicken Loans ($146B) + +**Note - I know you apes want to divide $146B/541K to see how big each loan is, but you can't. The $ amount provided includes refinance, home improvement, etc... so don't, just be patient.** + +So, you might see a theme here. There are three big names. Wells Fargo, Chase, and Quicken Loans. Two of the three are LARGE banks. One, is technically defined as a "non-bank". If you haven't put together the pieces, Quicken Loans is that "nonbank". Also, Quicken Loans...isn't Quicken Loans. It's parent company is, you guessed it, Rocket Mortgages ($RKT). + +Even though Wells Fargo is a smarmy institution (Google search 'Wells Fargo 2018') and JP Morgan is no saint either, I want to spend my time looking into Rocket Mortgages and paint you an ugly ass picture (Bob Ross would change his mind on what a 'happy accident' is). + +Something you need to understand is that Quicken Loans (aka Rocket Mortgages), have eyed becoming the largest Mortgage supplier to the US, which they have achieved. They represent over 9% of the total US mortgage market. Their dramatic rise is attributed to their labeling of being a "tech" focused mortgage lender who's digital process has tapped into the millennial market. Boasting as low as 8-minutes from consumer logging on to ~~mortgage~~ mortgage approval. + +*Pause - Did you fucking just say 8 minutes. Yes. I did. If you are a 'Big Short' fan, this is the scene where they are bragging about how fast they can write mortgages. If you know anything about the financial crisis, this highlights the consumer flaw. Which was, the person requesting a mortgage, relied upon the lender to tell them what they can and cannot afford. This is a grave mistake (queue ominous foreshadowing music).* + +Any who, back to the numbers. With the metrics above, I'm illuminating the point that Quicken Loans is a "volume" player (feel free to look at other years, you'll see they are just as high) not a "Quality" player. Seeing as they have a massive delta between the second mortgage supplier, and even though you can't utilize the $ amount provided directly, they are Billions less than Chase and Wells Fargo. To prove it, here's some fun facts about their LMI (or low to moderate income borrowers - defined as earning less than 80% of the estimated current area median family income). + +In 2019, they ranked #2 with 37,252 or roughly 7% of their mortgages. Also, 70% of Quicken Loans originations were refinances (aka 70% of 541,000 is 378,000). Remember, the downside of refinancing is that it costs the mortgage owner money. Essentially, you are taking out a new mortgage to pay off the old one. A lender wants you to refinance, so they can have extra liquidity and also prevent you from moving to a different mortgage lender. + +What's the standard to get a mortgage on Quicken Loans? 580 Credit score with only 3.5% downpayment (with an option for a manual underwriting process, where a person can ask for mortgage without a credit score, as long as you have rent payments, phone bill, etc. and 2 other 'verifiable' sources of credit history). + +Alarm bells should be ringing in your head, because the '07 - '08 crisis was driven by low interest rates and relaxed lending standards (incl. low down payment requirements), which allowed more people to purchase homes (or more home they could afford). This then drives home prices up, especially as people try to flip houses and extend themselves since they think "housing only goes up" (which unfortunately is amplified by companies like Zillow, who have 'Zestimates' which complete a self-fulfilling prophecy that an asset worth X one year is somehow worth X \* (1.5 to 2.0) in a few years without any improvement). + +But let's say $RKT is not a predatory lender, who's giving out mortgages to anyone. Just a player that moves a massive amount of volume. + +Oh, did I also forget this Rocket Loans gem from their personal loans business? (Personal Loans are not Mortgages, just another arm of their business) + +"***Our personal loans are not secured, guaranteed or insured and involve a high degree of financial risk.*** + +Personal loans made through our Rocket Loans platform are not secured by any collateral, not guaranteed or insured by any third party and not backed by any governmental authority in any way. We are therefore limited in our ability to collect on these loans if a client is unwilling or unable to repay them." + +If you continue to read, they show there is a significant risk to these personal loans... + +"Sometimes, borrowers use the proceeds of a long-term mortgage loan or the sale of a property to repay a short-term loan. We may therefore depend on a client’s ability to obtain permanent financing or sell a property to repay our short-term loans, which could depend on market conditions and other factors. In a period of rising interest rates, it may be more difficult for our clients to obtain long-term financing, which increases the risk of non-payment of our short-term loans. Short-term loans are also subject to risks of defaults, bankruptcies, fraud, losses and special hazard losses that are not covered by standard hazard insurance." + +\[Chuckles\] I'm in danger. + +This is not a problem with $RKT aka the fire itself, but rather gasoline that would amplify issues should they arise. + +**TL/DR Part I: Prior to the pandemic, Quicken Loans was riding the bull market and was dolling out mortgages, roughly having 7% of mortgages going out to LMI (or low income) lenders. Also in their quest to become the largest mortgage lender in the US, they primarily deal in refinancing, which is a mortgage to pay off your original mortgage. They also write personal loans, which are backed up with an IOU, which they use as "collateral". If interest rates rise, buying dries up, then the whole house of cards can fall, since they will run out of liquidity. This means, they'll need to rely on selling the loans to the secondary MBS market, to stay afloat.** + +**PART II - The Pandemic** + +Housing demand spikes because people want more space and guess who picked up the tab, seeing as they are a "Volume" player. + +Here's their 10-K filing in March's Condensed Balance Sheet... + +&#x200B; + +https://preview.redd.it/a8hzf8wfamr61.png?width=1341&format=png&auto=webp&s=2047599552dfbd36284807cae0480a15f516949c + +From 2019 to 2020, $RKT's Balance Sheet goes from $13.2B to $22.8B in Mortgage loans at "fair value". However, what should jump out to you is that cash, only increases by $580M. To put it simply, I showed this balance sheet to a CPA friend of mine (works for the big 4) without disclosing the company the balance sheet belonged to, and his quote directly was, "this is a crazy leveraged company". Another point he brought up, "held for sale also implies they are not readily available for sale and their maturity date could be long down the road". + +Also, remember, the majority of their "Volume" in 2019 were refinances (think strip club in the 'Big Short'). Yes there was an increased demand in 2020, but you have to imagine that over 50% of their increase were also due to refinancing opportunities. + +Now, here's one of the most important quotes in their 10-K + +"As of December 31, 2020, we had approximately 80,000 clients on forbearance plans, which represents approximately 3.9% of our total client serviced loans portfolio. Our delinquent loans (defined as 60-plus days past-due) were 3.91% of our total portfolio. Excluding clients in forbearance plans, our delinquent loans (defined as 60-plus days past-due) were 0.84% as of December 31, 2020. We monitor the MSR portfolio on a regular basis seeking to optimize our portfolio by evaluating the risk and return profile of the portfolio. As part of these efforts we sold the servicing on approximately 240,000 loans with $90.8 billion in UPB during the year ended December 31, 2020. These sales were more than offset by new loans that were added to the MSR portfolio organically during the period." + +*APE LANGUAGE - 4% of our clients are about to be foreclosed, but not to worry, these 4% make up anyone who is 60-days past due. We sold the rights to $91B to another mortgage lender but not to worry, we offset this by just creating new loans.* + +**THAT IS SCARY. Wrote and sold the rights to $91B...aka we move a lot of loans, and if we can't sell them to get them off our books we are in trouble. To continue to keep the lights on, we need to write new loans, so we can have liquidity.** + +Okay, but you might say, 4% forbearance ain't bad right? What's the industry standard? Well, we can look to Guild Holdings ($GHLD) 10-K filing to learn more. Below, I've included Guild vs Industry Forbearance Rates (with stimulus injections), and unemployment graphs for your viewing pleasure. + +&#x200B; + +[From $GHLD 10-K](https://preview.redd.it/z0uitybrdmr61.png?width=2458&format=png&auto=webp&s=5f61efbf3495a175549e3937653ca32a353de230) + +https://preview.redd.it/oeg27l7namr61.png?width=1565&format=png&auto=webp&s=ec0d2cad164fea884d70294dc12399a7e0170669 + +You'll see the industry, is not doing well. From April 2020 through February 2021, the Forbearance Rate is above 5%. Also, unemployment correlates to industry Forbearance Rates. Also, what you can see, is that a round of stimulus checks hit American wallets BEFORE Dec 31st, ~~2021~~ 2020 (I know by drawing is s$%# but common, the date was December 29th). Which skews $RKT's claim that by Dec 31st, only an additional 1% of their loans were delinquent. + +**Why do I mention this?** + +Well, what's important to note is that Forbearance is still 2.5% higher than pre-pandemic. This is also with the [Forbearance and Foreclosure Protections for Homeowners](https://www.whitehouse.gov/briefing-room/statements-releases/2021/02/16/fact-sheet-biden-administration-announces-extension-of-covid-19-forbearance-and-foreclosure-protections-for-homeowners/) still in effect. Which extends the foreclosure moratorium, extends mortgage payment forbearance enrollment, and provide up to six months of additional mortgage payment forbearance (if you entered forbearance on or before June 30th, 2020). Also, if you delve further into the links, you'll see that Rent payments are behind (9%-28% by state or 1 in 6 adult renters) and 10.6M adults are in households that aren't caught up on mortgage payments. + +So, even if there are % people abusing the Forbearance protections, the rate has still risen during the pandemic from 2.7% in March. + +**TL/DR Part II: Rocket Mortgages is a crazy leveraged company right now to meet demand, who is participating in an industry that is staring down the barrel of foreclosures (especially in select markets who have high rates of 'severe delinquencies' from the background info), only to be held off by stimulus bills and executive orders. This is not just a Rocket Mortgage issue, but an industry wide issue. If they can't sell the volume of mortgages to the secondary market (MBS), they could face liquidity issues.** + +**PART III - Putting it all together** + +Rocket Mortgages is a highly leveraged company, who's own 10-K filing suggests that they are a ticking time bomb to destruction, if there are issues getting loans off their books, and is being pushed by MSM as a "BUY" by CRYMER. Which should give you complete confidence that any "anti" Cramer play around that time (cough $GME), is the right call. + +But you might say, I don't believe this can be a whole industry thing... I still don't believe you. Even if Rocket Mortgages goes under, we have to be fine. Right? Well, if the secondary market investors take on losses in different areas of their business (cough banks cough cough), then there will be less buying. Less buying, means the longer the "middle man" ($RKT) will have to hold the mortgages on their books. Longer they have to hold, the less liquid they are. If the underlying asset they are holding loses value, then liabilities start to outweigh assets, causing mortgage lenders to head towards bankruptcy. On top of that, as mortgage rates rise, demand shrinks and they won't be able to write new loans to beef up their liquidity (or might not be able to take the loan on in the first place). + +Well, remember CDO's? \[Sarcastic response, 'yeah but they don't exist anymore'\] + +[They Do.](https://www.investopedia.com/terms/b/bespoke-cdo.asp) + +Why is this bad? Let's ensure we focus on the true problem of the last housing crisis. Low rates, predatory loan practices (aka giving people loans who shouldn't have them, over extending the average individual, and/or both), and government policies that were in place at the time. THIS was the FIRE. + +CDO's and CDO's Squared were the GASOLINE. Even without CDO's, this still would have resulted in the lower tiers of MBS tranches to be filled with terrible loans regardless. CDO's \\and CDO's squared were the gasoline of the housing crisis, but not the fire itself. The housing bubble would've popped back then, drastically impacting the market regardless of CDO / CDO squared. Just wouldn't have risked the collapse of the entire system (Something people often forget is how DRASTIC the action taken by the government was. Without CDO's / CDO squared, bubble does still pop due to ARM loans kicking in, but the impact would not have been as bad. Who knows what the response from the government would have been, but the market would've definitely been impacted). + +Remember when [Selina Gomez described a 'Synthetic CDO'](https://www.youtube.com/watch?v=Pxr_FzpPM2Q) and Mark Baum realized the system was imploding? They can't exist can they? + +[They Do.](https://www.ifre.com/story/2220833/banks-race-to-sell-first-post-crisis-managed-synthetic-cdo-l8n29t3np) + +Even though the article dictates that the synthetic CDO's are surrounding corporate debt, why does this relate to the housing bubble? Again, if the investors that are in the secondary market are taking financial hits in other areas of their business, they can't buy the MBS's. Therefore, causing a 'kink' in the Selling process, sticking the middle-man with the bag. This is a primary reason why mortgage lenders began to fail first in the housing crisis and the banks second. So, if the investors of the secondary market are impacted at all negatively by an instrument that is proven to be gasoline to a fire, this will cause a kink in the mortgage process. + +Well, that market can't be big right? Everyone with a brain knows synthetic CDO's are a risky investment, regardless of industry. Can anyone be that greedy? + +[They Are.](https://www.ifre.com/story/2474693/synthetic-cdo-market-grows-despite-rising-defaults-l5n2f156c) + +So, this risk is growing for banks, the game has just changed. + +&#x200B; + +Let's bring it back to Mortgages. Well, what was the foreclosure rates in 2007 before the crash, 5.2% in 2021 ain't bad right? Let's use sub-prime as a benchmark since they are the worst. + +[4.53%](https://www.wsj.com/articles/SB117383870384136371) + +So, let's just say the 2.7% from March is now mid to high 3%. This is for all mortgages remember, not just subprime. This is a serious problem. Especially, considering that the forbearance / foreclosure risk, in specific markets are looming. Even though the loans at risk are FHA / VA, the problem isn't a financial one initially. It's a supply / demand problem. The market is hitting a cross road where supply can drastically increase and demand can drastically decrease, lowering home prices / value. The secondary market (MBS's) investors current investments become riskier and if they are over-extended in other areas of their business, will stop taking on additional risk. The middle-men in the mortgage process, will not be able to move "assets" off their books. These "assets" will lose value, and liabilities will start to outweigh the assets. Liquidity will run dry for them to create new loans, which provide liquidity to the company in the first place, and will compound the problem. + +In conclusion, with the largest mortgage lender leveraged to the max, reports showing that the industry is experiencing the same hardship (and if you look at GHLD's 10-K) and are over-leveraged with the recent spikes in housing demand due to COVID. The 19.1% represented in "The Everything Short DD" Repo market of MBS is built on a house of cards. [CDO's are back, synthetic CDO's are back, and they are getting greedier and greedier by the minute.](https://www.youtube.com/watch?v=3U8nDMCjAMA) The rise in Treasury Yields will cause the mortgage interest rates to rise, the mortgage interest rates rising will slow down sales / refinancing opportunities, drying up liquidity for mortgage lenders (like Rocket who DEPEND on sales & refinancing to stay afloat), and the underlying assets will eventually be devalued not only by a saturation of the market naturally, but because of the influx of foreclosures that are bound to hit the market. Should home values decrease, the existing bonds in the secondary market get riskier, and will slow down the selling / buying as investors can't take on more risk. Yes, the government is buying up MBS's, but they aren't the entire market. The other investors are at risk to be exposed to losses in their other business segments, preventing them from buying and in the process leaving the "middle men" holding the bag. + +I completely agree with "The Everything Short DD" that $GME remains as one of the sole hedges against the implosion of the market. + +**TL/DR: To top it all off, we have a housing bubble, with mortgage lenders who are over extended due to the increased demand of the COVID crisis. Rocket Mortgage = New Century, they are tip of the over-leveraged iceberg. With the rise of the Treasury Yields, we'll also see a collapse of MBS's, which is going to cripple the liquidity of the Repo market. I agree with "The Everything Short DD" that $GME is one of the only hedges against the implosion of the market.** + +Thank you for reading, please let me know if I have errors, mistakes, or edits I need to make. I've been staring at databases for far too long today and I'm a few margarita's in. + +Obligatory: GME TO THE MOON 🚀 🚀 🚀 🚀 🚀 🚀 🚀 🚀 🚀 🚀 🚀 🚀 HODL + +&#x200B; + +Other Points I wanted to incorporate: + +1. Removed the point about $RKT owner selling, sites / 4K's confused me. I believe only 20M not 60M were sold, and the proceeds weren't for a "golden" parachute as I initially described. +2. GHLD's balance sheet + +[GHLD Balance Sheet](https://preview.redd.it/yrzpsn47amr61.png?width=2360&format=png&auto=webp&s=6fbafe7d06ec16f92dee10ff702ecf5a443e59e2) + +3. If you look at the "other assets" of the condensed RKT balance sheet, they are primarily (5.7B) in "loans subject to repurchase right from Ginnie Mae (These are also written as Liabilities, seeing as they don't want to be a Lehman Brothers... i know its not the same thing, but you catch my drift. It can be either an asset or a liability, they don't know yet... but spoiler... it's a liability) + +&#x200B; +# New US Crypto Regulation Far More Invasive Than We Thought + +**US Congress intends to regulate crypto on a level far deeper than currently understood―They will:** + +&#x200B; + +* Designate Bitcoin, Ether, and their hard-forks as commodities and regulate their transactions accordingly; +* Create legal uncertainty for all other crypto projects and ICOs by allowing them to be labeled as securities; +* Ban the use of (unauthorized) stablecoins; +* Introduce penalties for the use of mixers and privacy coins; +* Rebrand smart-contracts that take longer than 24 hours to deliver as futures contracts and regulate them accordingly; +* Re-define legal tender and change the way money is created by the Federal Reserve; and authorize the issuing of a digital USD of which all transactions are recorded; +* Introduce foreign regulations into US law for all virtual asset service providers in the US (and with US clients). This would not be done to then never use it. + +&#x200B; + +**In short: Congress wants to bring crypto-currencies under full oversight and control.** + +These new regulations introduce massive regulatory burdens on existing projects, ban and criminalize current normal activities, restrain innovation and free enterprise, and even introduce a transparent central bank digital digital currency that redefines money as we know it! + +According to United States representative Don Beyer, congress should incorporate “digital assets into existing financial regulatory structures.”(1) As you will see, they intend to do just that. + +And it will change the way things are done for crypto forever… + +&#x200B; + +## <What This Post Is About_ + +This post provides an overview of the crypto legislation currently (September 2021) being put through US congress. + +It does not just look at the proposed bills, but rather at the wide range of laws that are to be amended. + +Once all the puzzle pieces are put together, the big picture reveals shockingly strict regulations of crypto and a complete overhaul of the idea of “money.” This could have serious effects not only on the crypto sector, but also on the financial system as a whole. + +Behind the excuses of preventing money laundering and ensuring investor protection, the use of crypto is transformed in something it was not supposed to be. Especially delicate is the fact that part of this legislation is drafted outside the US. + +***Disclaimer***\*: This report provides a high-level overview of the US laws that are to be introduced/amended by two new bills. Its depth is limited by the inadequate knowledge of the author of the large body of US law involved, and given that these bills are subject to amendments and have not even passed into law yet, none of this information can be considered legal or financial advice.\* + +&#x200B; + +## <What Is Going On? + +On April 06, 2021, a “must pass” bill was introduced called the “Infrastructure Investment and Jobs Act”(2) (“Infrastructure Bill”). It passed in the House of Representatives and, after fierce debate, the Senate. Hidden in this bill, an amendment to the Internal Revenue Code was added. It introduced new reporting requirements and obligations for record keeping. + +While this bill created a lot of public outcry, more recently, a real game-changing bill was introduced in the House on July 28, 2021, namely the: “Digital Asset Market Structure and Investor Protection Act” (3) (“Digital Asset Bill”). + +This bill proposes amendments to the Federal Reserve Act, the Bank Secrecy Act, Securities Exchanges Acts, and the Commodity Exchange Act. It changes the definition of legal tender, and it introduces international crypto regulation into US law. + +This article looks at each of these amendments… + +&#x200B; + +## <Commodities or Securities?_ + +The main take-away is that two different bodies of law will apply to crypto projects: commodities and securities laws. So far, only Bitcoin, Ether, and their hard-forks are confirmed to be commodities (see below). All other cryptos are subject to future guidance by market regulators: + +*“Not later than 150 days after the date of the enactment of this section, the SEC and CFTC shall jointly publish, for purposes of a 60-day public comment period, a proposed rulemaking that classifies each of the major digital assets.* + +***Not later than 270 days after the date of the enactment of this Act***\*, the SEC and CFTC shall jointly publish a final rule that classifies\* ***each of the top 25 major digital assets*** *by (i) highest market capitalization and (ii) highest daily average trading volume as—* + +*(1) a digital asset; or(2) a digital asset security.”* (4) + +&#x200B; + +## Interpretation: + +* Cryptos will be subject to two different regulatory regimes: commodities and security regulations. +* Services engaged with both digital assets (commodities) and digital asset securities (securities) could be subjected to both regulatory regimes. + +&#x200B; + +## <Commodities Regulation_ + +The Commodity Exchange Act regulates the trading of commodity futures in the United States. Passed in 1936, it has been amended several times since then.(5) It provides federal regulation of all commodities and futures trading activities and requires all futures and commodity options to be traded on organized exchanges. + +In 1974, the Commodity Futures Trading Commission (CFTC) was created to oversee the market. With certain exceptions, the CFTC has been granted exclusive jurisdiction over commodity futures, options, and all other derivatives that fall within the definition of a swap. Certain cryptos will be regulated as commodities. + +&#x200B; + +## Definition of “Commodity” Amended to Include Digital Asset: + +First and foremost, Section 1a of the Commodity Exchange Act on definitions will be amended to read as follows: + +*“****The term “commodity” means*** *wheat, cotton, rice, corn, oats, barley, rye, flaxseed, grain sorghums, mill feeds, butter, eggs, Solanum tuberosum (Irish potatoes), wool, wool tops, fats and oils (including lard, tallow, cottonseed oil, peanut oil, soybean oil, and all other fats and oils), cottonseed meal, cottonseed, peanuts, soybeans, soybean meal, livestock, livestock products,* ***digital asset (including Bitcoin, Ether, and their hardforks)****, and frozen concentrated orange juice, and all other goods and articles, except onions (as provided by section 13–1 of this title) and motion picture box office receipts (or any index, measure, value, or data related to such receipts), and all services, rights, and interests (except motion picture box office receipts, or any index, measure, value or data related to such receipts) in which contracts for future delivery are presently or in the future dealt in.”*(6) + +&#x200B; + +## Digital Asset Definition + +Next, the end of Section 1a of the Commodity Exchange Act will be amended by adding a clarification of what a digital asset is (7)(definition to long to post here) + +&#x200B; + +## Smart Contracts with Delivery Time of More than 24 hours are Futures Contracts + +A sharpening of the definition of retail commodity transactions could decrease the options for the use of smart contracts outside of regulated exchanges. + +Currently, Section 2(c)(2)(D)(i) of the Commodity Exchange Act prohibits persons that are not *“eligible contract participants”* or *“eligible commercial entities”* to engage in agreements, contract or transactions in commodities on leverage, margin, or financed by the offeror, the counterparty, or a person acting in concert with the offeror or counterparty on a similar basis.(8) + +Next, additional amendments mentioned in the SEC. 202 of the Digital Asset Bill applies this on transactions done by smart contract of which the delivery takes longer than 24 hours: + +*“(ii)  Exceptions* + +*(III) a contract of sale that–* + +*(cc) with respect to* ***digital assets***\*, results in\* ***actual delivery*** *(including transfer of control over private keys) n****ot later than 24 hours after the transaction is entered into*** *and such delivery is accomplished by either-* + +*(AA) recording the transaction on the public distributed ledger for the digital asset; or* + +*(BB) with respect to digital which are not recorded on a public distributed ledger for the digital asset, reporting the transaction to a CFTC registered digital asset trade repository; or”* (9) + +&#x200B; + +## Dodd-Frank Act and Market Transparency + +After the 2008 financial crisis, the Dodd-Frank Act introduced strict regulations for swaps. Naturally, these will also apply to digital assets as well. + +The definition of swaps, as provided by the Commodity Exchange Act (section 1a(47)) is broad. For example, it could refer to any “agreement, contract or transaction” that “provides for any purchase, sale, payment, or delivery that is dependent on the occurrence, nonoccurrence, or the extent of the occurrence of an event or contingency associated with a potential financial, economic, or commercial consequence.” (10) + +## Next, the Dodd-Frank bill authorizes the CFTC to: + +* Regulate swap dealers by installing capital and margin requirements, require dealers to meet robust business conduct standards, and meet recordkeeping and reporting requirements. +* Increase transparency and improve pricing in the derivatives marketplace by requiring standardized derivatives to be traded on regulated exchanges or swap execution facilities and bring better pricing to the market place and lower costs for businesses and consumers. +* Lower risk to the American public by moving standardized derivatives to central clearinghouses.(11) + +&#x200B; + +## Digital Asset Trade Repository + +To meet the above mentioned market transparency requirement, the Commodity Exchange Act stipulates the need for a digital asset trade repository to collect information on SWAPS in order to provide the public with the correct market information: + +*“The term ‘digital asset trade repository’ means any person that collects and maintains information or records with respect to transactions or positions in, or the terms and conditions of, contracts of sale of digital assets in interstate commerce entered into by third parties (both on chain public distributed ledger transactions as well as off chain transactions) for the purpose of providing a centralized recordkeeping facility for any digital asset, but does not include a private or public distributed ledger or the operator of either such ledger unless such private or public distributed ledger or operator seeks to aggregate/include ‘off chain’ transactions as well.”* (12) + +&#x200B; + +## Interpretation Commodities Regulations: + +* As of writing, only BTC and Ether (and their hard-forks) will be confirmed as commodities. All other cryptos could potentially be regulated as securities (what this means is explained next). +* The fact that novel technologies such as Bitcoin and Ether are to be subjected to a large body of law that developed around the trading of livestock and frozen concentrated orange juice could spell regulatory uncertainty for various business models in the industry. +* No “trading on margin” is allowed outside regulated entities, unless done by high-level investors called “eligible contract parties.” This could perhaps frustrate particular ideas about decentralized finance or OTC markets. +* Smart contracts that take longer than 24 hours to deliver could be considered futures contracts under the jurisdiction of the CFTC. That smart contracts can be labeled as futures contracts appears indeed to be the opinion of the CFTC.(13) + +&#x200B; + +## <Securities Regulations_ + +In the US, securities are regulated by the 1933 Securities Act. Additionally, the 1934 Securities Exchange Act further regulates the trade of securities, and established the SEC to oversee these markets. + +## Definition of “Security” Amended to Include Digital Asset Security: + +First and foremost, Section 3(a)(10) of the Securities Exchange Act will be amended to include a “digital asset security” (and exclude “digital assets”) in the definition of security: + +*“(10)* ***The term “security” means*** *any note, stock, treasury stock, security future, security-based swap, bond, debenture, certificate of interest or participation in any profit-sharing agreement or in any oil, gas, or other mineral royalty or lease, any collateral-trust certificate, preorganization certificate or subscription, transferable share, investment contract,* ***digital asset security***\*, voting-trust certificate, certificate of deposit for a security, any put, call, straddle, option, or privilege on any security, certificate of deposit, or group or index of securities (including any interest therein or based on the value thereof), or any put, call, straddle, option, or privilege entered into on a national securities exchange relating to foreign currency, or in general, any instrument commonly known as a “security”; or any certificate of interest or participation in, temporary or interim certificate for, receipt for, or warrant or right to subscribe to or purchase, any of the foregoing;\* ***but shall not include any fiat currency, commodity, digital asset***\*, or any note, draft, bill of exchange, or banker’s acceptance which has a maturity at the time of issuance of not exceeding nine months, exclusive of days of grace, or any renewal thereof the maturity of which is likewise limited.”\* (14) + +## Digital Asset Security Definition + +Next, the Digital Asset Bill (SEC. 101) defines what a digital asset security will be: + +*“(A) IN GENERAL.—The term ‘digital asset security’ means a digital asset that:* + +*(i) Provides the holder of the digital asset with any of the following rights:* + +*(I) Equity or debt interest in the issuer.* + +*(II) Right to profits, interest, or dividend payments from the issuer.* + +*(III) Voting rights in the major corporate actions (which shall not include new block creations, hardforks, or protocol changes related to the digital asset) of the issuer.* + +*(IV) Liquidation rights in the event of the issuer’s liquidation.* + +*(ii) In the case of an issuer with a service, goods, or platform that is not wholly operational at the time of issuing such digital asset, with respect to* ***any fundraising or capital formation activity (including initial coin offerings***\*) which is accomplished through the issuance of such a digital asset, issues such digital asset to a holder in return for money (including other digital assets) to fund the development of the proposed service, goods, or platform of the issuer.”\* (15) + +&#x200B; + +## What does it mean to be regulated as a security? + +Investing in securities in the US is regulated to: + +*“protect interstate commerce, the national credit, the Federal taxing power, to protect and make more effective the national banking system and Federal Reserve System, and to insure the maintenance of fair and honest markets in such transactions.”* (16) + +Regulations focus on both the issuing of securities (primary market), and subsequent trade of such securities (secondary market). + +The goal of securities laws is firstly to require issuers to fully disclose all material information that an investor would need in order to make up his or her mind about the potential investment. A regulated company must create a registration statement, which includes a prospectus, with copious amounts of information about the security, the company, the business, including audited financial statements. + +Next, the subsequent selling and trading in these securities is regulated, by restricting trade to market places over which the regulator has oversight. The Security Exchange Act section §78l(a) states: + +*“It shall be unlawful for any member, broker, or dealer to effect any transaction in any security (other than an exempted security) on a national securities exchange unless a registration is effective as to such security for such exchange in accordance with the provisions of this chapter and the rules and regulations thereunder.”* (17) + +&#x200B; + +## Summary of Securities Regulations: + +* Crypto projects will need to be regulated and provide clear financial information for investors to make an informed decision. +* Trading of securities will generally take place on regulated exchanges. +* Any new fundraising or capital formation activity (including ICOs) are likely to be securities. +* When a crypto is regulated as a security, the entire coin is subject to strict regulations. In the case of commodities, only specific use cases (futures) are regulated. It is a big difference. +* US Congress is taking a leap of faith. It needs identifiable persons to enforce a law upon. Who is going to be held accountable in a decentralized network? Many issuing companies have handed control over to network participants. Perhaps for this reason, Section 12(g) of the Securities Exchange Act of 1934 will be amended to allow the issuer to apply for “desecuritization.” (18) The question remains: who will apply for desecuritization once a network is decentralized? The investors? Weren’t they the ones supposed to be protected in the first place? + +&#x200B; + +## <Changing the Nature of Money_ + +These regulations are not just about crypto. It is clearly part of a wider discussion on the future of money. As shown below, this bill not only changes the definition of money in the US, but also changes how money is created! + +As a first, in Section 5312(a)(3)(B) of title 31, US Code (Money and Finance) digital assets are included as a monetary instrument.(19) However, Section 5103, of title 31, US Code will be amended to specifically exclude digital assets and digital asset securities as legal tender.(20) And finally, it is determined that digital assets and digital asset securities will not be covered by Federal Deposit Insurance (FDIC or NCUA).(21) + +&#x200B; + +## Introducing the Digital USD (or Central Bank Digital Currency/CBDC) + +After slamming the door on digital assets to be used as lawful money, the Federal Reserve Act is amended to provide the Federal Reserve Board with far reaching new powers; section 11 will be amended to say: + +*“(d) To supervise and regulate through the Secretary of the Treasury the issue and retirement of Federal Reserve notes (****both physical and digital****), except for the cancellation and destruction, and accounting with respect to such cancellation and destruction, of notes unfit for circulation, and to prescribe rules and regulations (****including appropriate technology****) under which such notes may be delivered by the Secretary of the Treasury to the Federal Reserve agents applying therefor.”* (22) + +In addition, Federal Reserve notes will in the future also be issued digitally; an amendment to section 16 confirms this: + +*“Federal reserve notes, to be issued at the discretion of the Board of Governors of the Federal Reserve System for the purpose of making advances to Federal reserve banks through the Federal reserve agents as hereinafter set forth and for no other purpose, are authorized. Notwithstanding any other provision of law, the Board of Governors of the Federal Reserve System is* ***authorized to issue digital versions of Federal reserve notes in addition*** *to current physical Federal reserve notes. Further, the Board of Governors of the Federal Reserve System, after consultation with the Secretary of the Treasury, is* ***authorized to use distributed ledger technology for the creation, distribution and*** ***recordation of all transactions*** *involving digital Federal reserve notes. The said notes shall be obligations of the United States and shall be considered legal tender and shall be receivable by all national and member banks and Federal reserve banks and for all taxes, customs, and other public dues. They shall be redeemed in lawful money on demand at the Treasury Department of the United States, in the city of Washington, District of Columbia, or at any Federal Reserve bank.”* (23) + +&#x200B; + +## Interpretations on the Future of Money: + +* The door is shut for the use of cryptos as legal tender. +* The Federal Reserve Board is to be authorized to create and distribute a ledger-based Federal reserve note that could be used for everyday transactions in USD. +* Digital federal reserve notes will make the “recordation” of all transactions possible. Did they use this word because “monitoring all transactions” would be too obvious? Recording all transactions without anyone looking at them makes no sense. +* These amendments significantly increase the power of the Federal Reserve. Contrary to what is widely understood, the Fed does not “print money.” It can only manage the money supply indirectly.(24) The private sector “creates” most of what we use as money by issuing credit. It is with the supply of credit by the private banks that the monetary supply is inflated. Conversely, with the reduced demand for credit, the money supply deflates. The Fed is not as powerful as it wants the market to believe, and the Federal Reserve Act restricts a lot of its actions. This amendment, however, could drastically expand the authority of the Fed, by allowing them to create and distribute a “digital USD” directly. It could change the entire structure of the financial system and potentially have far reaching consequences. +* The original idea behind the Federal Reserve was for private bank deposits to be combined to provide an emergency line of credit in times of economic stress.(25) But if the Digital Dollar is based on a blockchain, how can it also be based on reserves? And what mechanism will determine how funds (and how much) are added to the economy? And where and how will they be distributed? What about privacy and security? Will all this authority be handed over to a board of seven unelected bureaucrats? This amendment has the potential to change the way the Federal Reserve operates. This deserves a wider discussion by economists and financial experts outside the crypto-space as well. + +&#x200B; + +## <International FATF Crypto Regulation Introduced in the US_ + +Those paying attention to international anti-money laundering legislation know that the following sections from the Digital Asset Bill originate from guidance issued by the FATF (Financial Action Task Force). FATF is an intra-governmental organization [creating financial legislation](https://decentralizedlegalsystem.com/fatf-bitcoin-regulations-summary/). + +In March, the Paris based FATF issued draft guidance(26) (“FATF Guidance”) on a number of topics. And even though this guidance hasn’t been finalized, there are already a number of points directly included in the Digital Asset Bill. + +&#x200B; + +## Banning the use of Stablecoins + +Subchapter I of chapter 51 of subtitle IV of title 31, United States Code, department of treasury regulation, will be amended, to read as follows: + +*“(a) IN GENERAL.—Beginning on the date of the enactment of this section,* ***no person may issue, use, or permit to be used a digital asset fiat-based stablecoin*** *that is not approved by the Secretary of the Treasury under subsection (b).”*(27) + +&#x200B; + +## Criminalizing the use of privacy coins and anonymizing services (mixers, coinjoins) + +The bank secrecy act is going to be amended to sanction the use of anonymity-enhanced convertible virtual currencies and anonymizing services.(28) It is worth noting that willful violations of the bank secrecy act could give rise to a fine of not more than $250,000, or imprisoned for not more than five years, or both.(29) + +&#x200B; + +## Introduction of the term Virtual Asset Service Provide (VASP) into US Law + +Next, the term Virtual Asset will be introduced into Section 5312(a) of title 31, United States Code. A Virtual Asset can be a digital asset, or *“a digital representation of value that can be digitally traded, or transferred, and can be used for payment or investment purposes;”*(30) + +So far we have seen a number of definitions. To understand their relationship, the following image was made based on the definition of Virtual Asset according to Section 5312(a) of title 31, United States Code:(31) + +&#x200B; + +https://preview.redd.it/buzs5az1dro71.png?width=502&format=png&auto=webp&s=5b1726f091d09a7749d85d8e44af6ea8f5e45b7d + +&#x200B; + +Virtual Asset is a broad definition; it covers most activities involving cryptos. We can see in the Digital Asset Bill that entities that are facilitating transactions in Virtual Assets are to be called “virtual asset service providers,” or VASPS. Sec 301 of the Digital Asset Bill defines a VASP: + +*“(A) means a person who—* + +*(i) exchanges between digital asset and fiat currencies* + +*(ii) exchanges between digital assets;* + +*(iii) transfers of digital assets;* + +*(iv) is responsible for the custody, safekeeping of a digital asset or an instrument that enables control over a digital asset;* + +*(v) issues or has the authority to redeem a digital asset; and* + +*(vi) provides financial services related to the offer or sale of a digital asset by a person who issues such digital asset; and* + +*(B) does not include any person who—* + +*(i) obtains a digital asset to purchase goods or services for themself;* + +*(ii) provides communication service or network access services used by a money transmitter; or* + +*(iii) develops, creates, or disseminates software designed to be used to issue a digital asset or facilitate financial activities associated with a digital asset.”* (32) + +This definition comes directly from the FATF Guidance, with the only difference being that the US excludes the exchange between different forms of one virtual assets. On the other hand, section (v) is a new addition. + +&#x200B; + +## The Big Picture: Global Regulation + +The logic behind this seems to be to first introduce a high-level definition (including coins regulated as commodities, securities, and everything in between). Next, any future global restrictions on the wider crypto-space can be applied at this level. + +From the latest FATF Guidance, a number of possible additional restrictions can already be deducted. Things to look out for are the restriction of the use of “unhosted wallets,” the introduction of the “travel rule,” labeling those who engage in peer-to-peer transactions as a risk, and a whole host of other measures. (33) + +One additional aspect of VASP regulation mentioned in the FATF Guidance is also included in the Digital Asset Bill; VASPS engaged in services which are available in the United States and to United States persons, have to be regulated in the United States, even if the provider is located outside the United States. (34) + +## Interpretation International Regulation in the US: + +* International AML legislation, created by Paris-based FATF, is being introduced in the US. +* The FATF term “virtual asset service provider” (VASP) is introduced in the US. The definition is so broad that it covers practically all crypto projects. +* After first being in the FATF Guidance, the banning of stablecoins and anonymity-enhanced cryptos and the obligation for VASPs to be licensed in the country of their clients are included in the Digital Asset Bill. +* It is not hard to imagine that other restrictions for cryptos currently discussed by FATF, such as the travel rule and restricting unhosted wallets, will be introduced next. This is not a regulation you introduce to then never use. +* All VASPs with operating in the US or with US clients need to be regulated in the US. + +&#x200B; + +## <Amendments in the Infrastructure Bill_ + +Last August saw public outcry over the US Infrastructure bill. It included a section on IRS reporting for crypto. Some highlights: + +## Clarification of Definition of Broker + +It makes sense that the tax authorities use a wide definition to cover all possible economic activities in crypto. Section 80603 of the Infrastructure Bill amendments the Internal Revenue Code of 1986, provides that brokers need to report the activity of their clients to the IRS and adds the following to the definition of broker: + +*“(D) any person who (for consideration) is responsible for regularly providing any service effectuating transfers of digital assets on behalf of another person.”* (35) + +## Reporting of Digital Assets + +In addition, a unique wide definition of digital assets is added: + +*“any digital representation of value which is recorded on a cryptographically secured distributed ledger or any similar technology as specified by the Secretary.”* (36) + +## Effective Date + +Effective after December 31, 2023. + +&#x200B; + +## Interpretation Infrastructure Bill + +Commotion about this bill was mainly due to the wide definitions used, which could cover all activities in the crypto space, including mining. In response, according to an article on Bloomberg, the U.S. treasury will shortly issue additional guidance, along the lines of the following: + +*“Other firms key to the nearly $2 trillion crypto market — from developers and miners to hardware and software providers — won’t have any new requirements, so long as they don’t also act as brokers, according to a Treasury official”* (37) + +At a glance, it appears that this bill is not as invasive as originally feared. It would also be impossible to enforce this legislation on miners due to the nature of the technology. + +In this case perhaps it would have been better if clear definitions were used of what is, and isn’t included. Moreover, comments from “anonymous sources at the treasury” do not provide real regulatory clarity. This industry too easily accepts the opinions of officials as decree. But we are all, including officials, subject to the law. Given that officials change over time, opinions and guidance are not the way forward; clear laws are needed. + +# <Sources_ + +I added all 37 footnotes here, but the post become to long to post. For those who wish to check the footnotes, they can be found here: + +[https://decentralizedlegalsystem.com/wp-content/uploads/2021/09/Review-US-Digital-Asset-Regulation-September-2021.pdf](https://decentralizedlegalsystem.com/wp-content/uploads/2021/09/Review-US-Digital-Asset-Regulation-September-2021.pdf) + +&#x200B; + +Infrastructure Bill, [https://www.congress.gov/bill/117th-congress/house-bill/3684/](https://www.congress.gov/bill/117th-congress/house-bill/3684/) + +Digital Asset Bill, [https://www.congress.gov/bill/117th-congress/house-bill/4741/](https://www.congress.gov/bill/117th-congress/house-bill/4741/) + +&#x200B; + +&#x200B; + +# <TL;DR_ + +**Next to the infrastructure bill, a new bill was introduced in US Congress: the “Digital Asset Market Structure and Investor Protection Act.” It is not law yet, could still be amended, and if it ever comes into effect it will likely not be this year/cycle. What it says:** + +**Bitcoin, Ether, and their hard-forks, are to be regulated as commodities. Smart-contracts taking longer to deliver than 24 hours are considered futures contracts and regulated as such.** + +**Every other project and future ICO is potentially a security; guidance will be issued by CFTC/SEC. Issuers of securities are likely required to provide transparency and financial information to investors. Trade is generally restricted to regulated exchanges.** + +**In addition, international anti-money laundering legislation is introduced in the US; (unauthorized) Stablecoins, privacycoins, and mixers are to be prohibited. The high-level term VASP is introduced for almost all crypto projects, possibly to facilitate more future regulations.** + +**Finally, the Federal Reserve gets shocking new powers to create and distribute a central bank digital currency (CBDC), of which all transactions are recorded.** + +&#x200B; + +Edit 1: added links to the two bills + +Edit 2: added "(unauthorized)" to tld + +Edit 3: Folks concerned should focus on the bill’s sponsor Rep. Don Beyer of Virginia, as well as the leaders, members and official feeds (website, Twitter, etc) of the committees involved. + +Usually see a lot of high income techies here, which is cool & all! Just looking for more of your average middle-of-the-road people on the same journey. I’m actively investing in index funds, paid off my car debt, have no student loan debt, & live in a small house in a LCOL area. My partner owns a small business & she has some student loans but no car debt. We live frugally & our FI number is $750k. + +Anyone else on a similar journey? What motivates you & what is your process to to FI/RE? +[https://www.reddit.com/r/Superstonk/comments/whchin/this\_is\_about\_share\_distribution\_and\_not\_the/](https://www.reddit.com/r/Superstonk/comments/whchin/this_is_about_share_distribution_and_not_the/) + +This guy wins the internet today. Go upvote the fucker. + +Have come to the same conclusion separately but a full day after not seeing his post. + +&#x200B; + +&#x200B; + +Please see edit 2 at the bottom of post. + +&#x200B; + +If your broker/custodian filed as a forward stock split, function code FC-02, ISO event code SPLF + +and not function code FC-06, ISO event code DVSE + +Then All of those share are using that code were put into brokerages are counterfeit. + +All of the shares that were delivered to the DTC from computershare can then be also used to close the shorts. + +How that works, is with the 02 code, shares just get split. None delivered by the DTC to the custodian/brokerage. + +The just get split. + +Function Code FC-06, they get shares delivered to them by the DTC which they credit towards the accounts. + +&#x200B; + +How this fucks you all is that if FC-02 was used then you all just got robbed. Every single gme shareholder. + +Even if one brokerage used FC-02, you all got robbed. + +&#x200B; + +How this works. + +On the day of closing before splivvy GME price is $153.47 + +Just splitting the shares and not using ones delivered to the DTC by gamestop means they are now stealing $115.10 from you and also then also allocating to your account, 3 counterfeit shares. + +Adding those 3 extra counterfeit shares then dilutes the float which in turn then devalues the stock you hold down to $9.59 + +as it effectively divides the $38.36 by 4. + +&#x200B; + +I'm writing an email to my brokerage about the shares left in my account + +&#x200B; + +&#x200B; + +You can copy pasta. + +&#x200B; + +Hi, I am emailing you in regards to Possible international securities fraud by the DTC in how the GME (CUSIP Number: 36467W109) ticker was split. + +I have a single question which i need answered by you in regards to this event so i can provide that information to the relevant authorities. + +I am asking for how your brokerage/custodian was directed by the DTCC to perform the stock split by dividend . + +Please check on the DTCC Corporate actions web portal. You will find it on the first page using GME CUSIP number provided. + +&#x200B; + +Was it filed as stock dividend which should be processed as function code FC-06, ISO event code DVSE. Please see notation 1 + +&#x200B; + +Or was it filed as a forward stock split, function code FC-02, ISO event code SPLF. Please see notation 2 + +&#x200B; + +Please see the official DTCC documentation here on page 15 In regards to these codes. + +[https://www.dtcc.com/-/media/Files/Downloads/issues/Corporate-Actions-Transformation/ISO\_20022\_EntAlloc\_UG.pdf](https://www.dtcc.com/-/media/Files/Downloads/issues/Corporate-Actions-Transformation/ISO_20022_EntAlloc_UG.pdf) + +&#x200B; + +The difference between the 2 will provide proof of the fraud. + +&#x200B; + +Gamestop (CUSIP Number: 36467W109) Issued a four for one stock dividend. + +Please see the Official SEC filing. [https://www.sec.gov/ix?doc=/Archives/edgar/data/1326380/000132638022000100/gme-20220706.htm](https://www.sec.gov/ix?doc=/Archives/edgar/data/1326380/000132638022000100/gme-20220706.htm) + +&#x200B; + +In the event this has been filed as a forward stock split, function code FC-02, ISO event code SPLF + +I have been defrauded in the manner of the DTC not issuing the stock that was issued by Gamestop - GME (CUSIP Number: 36467W109). + +But by just multiplying the number of shares by four and not using the issued shares of common stock distributed to them. + +&#x200B; + +Please see quote from gamestop + +"GameStop has already distributed the shares of common stock required for the stock dividend to its transfer agent, + +which has confirmed it subsequently distributed the + +appropriate number of shares of common stock to DTC for allocation to brokerage firms and other participants." + +Official Gamestop statement. [https://news.gamestop.com/stock-split/?n](https://news.gamestop.com/stock-split/?n) + +&#x200B; + +The cost of this possible fraud can be calculated in the manner of on the price of the close before the stock started + +trading at the new four to one dividend. + +GameStop shares closed at $153.47 on Thursday july the 21st and opened on the 22nd at an adjusted price of $38.36. + +$115.10 of value would have been stolen per stock, and then the float would have been devalued to $9.59 per stock after being + +diluted with an extra 3 fraudulent shares not issued by Gamestop (CUSIP Number: 36467W109) Please see notation 2 again. + +&#x200B; + +Notation 1, + +From the SWIFT standards for securities markets, event type "stock dividend", ISO code DVSE. + +Here's the definitions as per the standard: DVSE - Dividend paid to shareholders in the form of equities of the issuing corporation. + +[https://www.iso20022.org/15022/uhb/mt564-5-field-22f.htm](https://www.iso20022.org/15022/uhb/mt564-5-field-22f.htm) + +&#x200B; + +Notation 2, + +From the SWIFT standards for securities markets, SPLF - Increase in a corporation's number of outstanding equities without any change in the shareholder's equity or the aggregate market value at the time of the split. + +Equity price and nominal value are reduced accordingly. + +[https://www.iso20022.org/15022/uhb/mt564-5-field-22f.htm](https://www.iso20022.org/15022/uhb/mt564-5-field-22f.htm) + +&#x200B; + +They did not issue a four to one forward split. + +You have a fiduciary duty to report known fraud and prevent your customers from being defrauded as well. + +&#x200B; + +Please make this a priority of the highest order. + +&#x200B; + +Please reply to me ASAP with the Function code this was filed as. + +This is the only question i have. + +&#x200B; + +Regards, + +&#x200B; + +Edit, DTCC to DTC where appropriate + +&#x200B; + +&#x200B; + +Edit 2 + +[https://www.dtcc.com/-/media/Files/pdf/2013/3/22/0424-13.pdf](https://www.dtcc.com/-/media/Files/pdf/2013/3/22/0424-13.pdf) + +states that + +Current Process + +At times, DTC will either announce an Issuer declared Stock Split event as a Stock Dividend (function + +code 06) or it will announce a Stock Dividend event as a Stock Split (function code 02). This occurs + +when the respective Exchange provides an ex-date ruling that falls outside typical declarations for those + +events. + +In these business scenarios, to facilitate proper processing, DTC must announce the event with a + +function code that differs from how the stock distribution is announced in the market place. Stock + +Dividend events (FC06) with “irregular” ex-dates, are announced as a Stock Split (FC02) with + +comments explaining that the event is actually a Stock Dividend. Conversely, a Stock Split (FC02) with + +“normal” or no ex-date, the event is announced as a Stock Dividend (FC06) with comments explaining + +the event is actually a Stock Split. + +New Process + +In an effort to maintain the Issuer’s announced event type and maintain current processing rules as + +defined above, DTC is updating its processing systems with a new Processing Event Code attribute that + +will be added to the announcement and will appear in DIVA, DPAL and SDAR to inform participants of + +how the event will be processed at the time allocation occurs. + +Non-Confidential + +DTCC offers enhanced access to all important notices via a Web-based subscription service. + +The notification system leverages RSS Newsfeeds, providing significant benefits including + +real-time updates and customizable delivery. To learn more and to set up your own DTCC RSS + +alerts, visit [http://www.dtcc.com/subscription\_form.php](http://www.dtcc.com/subscription_form.php). + +CCF File Updates + +The change referenced above will introduce a non-mandatory file format modification to the CCF files + +listed below. The change will be noted as the “Processed As Indicator” and will be located in the second + +to last position on the file. This attribute is optional and does not need to be imported by all participants. + +So the function code can be used in this manner. + +What is the iso event record on the DTCC documentation? + +From the SWIFT standards for securities markets, event type "stock dividend", ISO code DVSE. + +Here's the definitions as per the standard: DVSE - Dividend paid to shareholders in the form of equities of the issuing corporation. + +[https://www.iso20022.org/15022/uhb/mt564-5-field-22f.htm](https://www.iso20022.org/15022/uhb/mt564-5-field-22f.htm) + +Was it marked as DVSE? +...but tomorrow I will receive my first paycheck after getting a promotion that almost doubled my pay. For the first time in a long time I'll be able to afford something other than just formula for my newborn daughter and ramen noodles for the wife and I. I'll also be able to start a savings account. It's a great feeling. + +Keep working at it, and you can get through the tough times. + +Thanks, /r/povertyfinance, for the help. + +Edit: Thank you all for the words of encouragement. Thanks also to all those that recommended beans, potatoes, etc. I was only using "Ramen noodles" as a placeholder. My wife doesn't really like potatoes and the like, so she eats mostly pasta. + +Edit 2: Holy shit, thank you for the gold. You guys are the greatest. +**TL;DR: GameStop will not only launch an NFT marketplace, but also integrate it into a gaming launch app. There are two variables that will be important to GameStop: the community as content creators and liquidity. Both will be provided through the connection of Loopring and Immutable X, and GameStop will serve as the catalyst here. Through the NFT marketplace / Gaming Launch app, people will be able to launch blockchain games and at the same time trade all assets of these games there (Global Order Book by IMX). Traditional game studios are targeting top-down marketing of NFTs as assets (e.g., Ubisoft). GameStop does not draw money from the actual NFTs, but from the transactions made. GameStop is interested in as many users as possible creating content, playing and trading games, as they earn money from every transaction. This is a fundamental difference from previous use cases and puts the gamer or creator at the center (unlike Ubisoft or Steam). This paradigm shift will cause GameStop to explode.** + +As a shareholder and as a gamer, I am equally excited about the future of GameStop. Regarding the GameStop NFT marketplace, however, there is always contradictory and also wrong information that I (also) read very often in other subreddits. For this reason, in this post I want to give an overview of what we know about the GameStop NFT Marketplace, what we can realistically expect for the future and why it will be a success story in my eyes. + +# It is not just another NFT marketplace like [OpenSea.io](https://OpenSea.io) + +We've known about the [GameStop x Immutable X partnership since 03/02/2022](https://news.gamestop.com/news-releases/news-release-details/gamestop-forms-partnership-immutable-x). While Immutable X is also active in the traditional NFT space ("JPGs" or Collectibles), Immutable X grew out of a desire to develop blockchain games. Immutable X has numerous partnerships itself. Be it with larger companies (TikTok, VeVe, Nike, etc.) or with game studios (Illuvium, BLOCKLORDS, PlanetQuest, etc.). They are all part of the IMX ecosystem, which in turn will be integrated into the GameStop NFT marketplace. This means that after the launch, all digital assets of these companies or products will also be tradable in the GameStop NFT marketplace: ["Immutable X is integrating its global order book into the GameStop NFT marketplace. Bringing existing and future projects on Immutable X Layer 2 to GameStop, including Gods Unchained, Guild of Guardians, Ember Sword and others."](https://www.tokeninsight.com/en/latest/2583) This also means that in-game assets will be tradable through the GameStop NFT marketplace in the future. + +# GameStop Wallet and GameStop NFT Marketplace + +We can expect that GameStop will not launch an [OpenSea.io](https://OpenSea.io) clone. GameStop's focus is, of course, more on the gaming sector. Traditional digital gaming stores like Steam, Epic Games et al. deliberately avoid the blockchain space. Nonetheless, the concept of these launch apps (such as Steam as a game library) has become established. However, unlike traditional games, blockchain-based games do not need to be purchased, they are usually F2P and the money is generated by the studios through the in-game economy or buying assets. For this reason, it is important for these games to have as much liquidity as possible. This is also why the partnership with GameStop is so important for Immutable X: GameStop brings countless new gamers and enthusiasts into the NFT gaming world. For NFTs and the blockchain in general, even more than for other asset classes, "liquidity is king!". Therefore, it seems like a logical step for all parties involved (GameStop, Immutable X, and all other game studios) to have GameStop develop a launch app for the games that are included in the GameStop ecosystem. The context of the NFT marketplace / launch app can be visualized roughly like this: + +&#x200B; + +https://preview.redd.it/c876ubq55e191.png?width=916&format=png&auto=webp&s=a65bc1e48fcb0957392d64c0ebab36f85ca74b0e + +&#x200B; + +# One place for everything: gaming, creating and trading + +The advantages are obvious. It's been described for quite some time that the GameFi space will be the catalyst par excellence for NFTs. Many keep pointing out the old familiar example here, "Yeah, you don't really hold your property in Steam, imagine if you could actually own your CS:GO skins." Most people then argue that they don't need this and a solution is being created for a problem that doesn't exist. I'm going out on a limb here, GameStop is not targeting this traditional games market. The point is obvious and can also be seen in the NFT marketplace slogan: "Power to the **Creators**. Power to the Collectors. Power to the Players." All previous NFT attempts in the gaming field have failed due to a top-down concept. Skins or similar were given by the publisher, which the user was supposed to buy at an extra price, because the supposed unique selling point "NFT" justified this extra price. The users rightly felt fooled and thus tend to reject NFTs since then. Why L2 (Loopring) is so important to GameStop, however, is not just because of the very cheap fee when trading assets, but because minting objects is also so incredibly cheap. NFTs have always thrived on the community. It's a grassroots movement at its core. Accordingly, in the future of gaming, the most important thing will be that content created can be minted as NFT and will be tradable on the trading floor as well as in-game. This is the real added value of NFTs in games. We also see it in sandbox games like Minecraft or Roblox: the community is the most important thing and content from the community must be tradable for the community and assignable to owners. In NFT gaming, it is not per se a question of a sword as an item from Diablo III being usable in another game (which is fundamentally conceivable). But of course, this will be severely limited by the genre and setting. The most important thing will be that content in games can be created by the community and can be traded in the games as well as on the GameStop NFT marketplace. And the whole thing only makes sense if there is enough liquidity, because as we know: "Liquidity is king!". For the reasons mentioned above, the GameStop NFT marketplace will explode in perspective in my eyes, because this will undoubtedly be a novum. Haters are gonna say: that is probably not gonna happen, it's purely speculative. Well, weren't we talking about GameStop creating a Wallet and a NFT marketplace since basically 12 months? Creating such a gaming launch app and enabling minting ingame assets for the users would be the most logical step towards a Metaverse gaming. +My friend found this investment group called ReLion Asset Management and he's already put $4000 into the "firm". They guarantee at least 1% every day and sure enough he's shown me the multiple deposits of $40 in his account. He also has successfully withdrawn and deposited the "returns" back into his personal account. Both times he attempted it, it was very straightforward and reasonable times to withdraw. Now that it's worked he of course is reinvesting his returns. + +Am I misunderstanding or is this company guaranteeing 365% returns every year? I'm a complete investment newbie so I might be misunderstanding, but is that not absolutely insane? I of course have googled the company and I'm not finding anything explicitly saying they're a scam but I'm also not sure how to legitimize them either. + +How can you definitively legitimize a financial institution or investment group anyways? + +He also sent me their verification documents which appears to be a badly photoshopped SEC filing, but again I don't know enough to recognize a legitimate or fake one. If someone tells me how, I can post the pictures. + +Edit: thanks for everyone's insight! I appreciate those who are actually trying to educate rather than pass judgment. It's clearly a scam simply due to the guaranteed high rate of return. I'll forward this on to my friend and we'll try to alert the appropriate authorities + +Edit2: my friend was very receptive to my feedback and is now reporting the scheme to the appropriate authorities and is attempting to pull out all his "investment". Fingers crossed +[https://www.bloomberg.com/news/articles/2019-12-04/warren-is-drafting-u-s-legislation-to-reverse-mega-mergers?srnd=premium](https://www.bloomberg.com/news/articles/2019-12-04/warren-is-drafting-u-s-legislation-to-reverse-mega-mergers?srnd=premium) + +&#x200B; + + + +U.S. Senator Elizabeth Warren is drafting a bill that would call on regulators to retroactively review about two decades of “mega mergers” and ban such deals going forward. + +Warren’s staff recently circulated a proposal for sweeping anti-monopoly legislation, which would deliver on a presidential campaign promise to check the power of Big Tech and other industries. Although the Trump administration is currently exploring their own antitrust probes, the proposal is likely to face resistance from lawmakers. + + + +According to a draft of the bill reviewed by Bloomberg, the proposal would expand antitrust law beyond the so-called consumer welfare standard, an approach that has driven antitrust policy since the 1970s. Under the current framework, the federal government evaluates mergers primarily based on potential harm to consumers through higher prices or decreased quality. The new bill would direct the government to also consider the impact on entrepreneurs, innovation, privacy and workers. + +Warren’s bill, tentatively titled the Anti-Monopoly and Competition Restoration Act, would also ban non-compete and no-poaching agreements for workers and protect the rights of gig economy workers, such as drivers for [Uber Technologies Inc.](https://www.bloomberg.com/quote/UBER:US), to organize. + +A draft of Warren’s bill was included in an email Monday from Spencer Waller, the director of the Institute for Consumer Antitrust Studies at Loyola University Chicago. Waller urged fellow academics to sign a petition supporting it. He said Warren was working on the bill with Representative David Cicilline, the most prominent voice on antitrust issues in the House. Waller declined to comment on the email. + +Representatives for Cicilline and Warren declined to comment. The existence of the bill and Warren’s support of it were [reported earlier](https://www.theinformation.com/briefings/129fbf) this week by the technology publication the Information. + +In Washington, there is some support across the political spectrum for increased antitrust scrutiny of large technology companies. Warren positioned herself as a leader on the issue this year while campaigning on a plan to break up Big Tech. She has repeatedly called for unwinding [Facebook Inc.](https://www.bloomberg.com/quote/FB:US)’s acquisitions of WhatsApp and Instagram, along with Google’s purchase of YouTube and advertising platform DoubleClick. + + + +It’s not clear when a bill would be introduced or whether it would move forward in its current form. Cicilline has said he would not introduce antitrust legislation until he concludes an antitrust investigation for the House Judiciary Committee in early 2020. + + + +Amy Klobuchar, a Senator from Minnesota who’s also vying for the Democratic nomination, has pushed legislation covering similar ground. Klobuchar plans to introduce additional antitrust legislation soon, according to a person familiar with the matter who wasn’t authorized to discuss the plans and asked not to be identified. + +Any proposal would face significant hurdles to becoming law, and Warren’s version could be particularly problematic because it promotes the idea that antitrust enforcement is equivalent to being against big business, said Barak Orbach, a law professor at the University of Arizona who received a draft of the bill. “The way I read it is that Elizabeth Warren is trying to make a political statement in the course of her campaign,” Orbach said. “It’s likely to have negative effects on antitrust enforcement, so I just don’t see the upside other than for the campaign.” + +The bill proposes a ban on mergers where one company has annual revenue of more $40 billion, or where both companies have sales exceeding $15 billion, except under certain exceptions, such as when a company is in immediate danger of insolvency. That would seemingly put a freeze on many acquisitions for [Apple Inc.](https://www.bloomberg.com/quote/AAPL:US), [Alphabet Inc.](https://www.bloomberg.com/quote/GOOGL:US), Facebook, [Microsoft Corp.](https://www.bloomberg.com/quote/MSFT:US) and dozens of other companies. The bill would also place new limitations on smaller mergers. + +Chris Sagers, a law professor at Cleveland State University, said the proposal would serve as an effective check on corporate power. “I don’t think you’ll have new antitrust policy until Congress says the courts have incorrectly interpreted the statutes,” he said. “Someone has to do what Elizabeth Warren is doing.” +Hey /r/povertyfinance, + +I don't really have anyone to tell this to but you. + +This summer I had no car, a job barely above minimum wage that I hated (hotel front desk is not the ideal job, trust me), and almost no money. I was sleeping on a makeshift bed in my dad's living room. I saved everything I could, which was most of my income thanks to my dad covering the mortgage and most of the groceries (thank you, dad). + +This fall I moved out to go back to school and got an apartment with two friends off campus. I also got my first office job, an internship in software engineering. There was a gap of about a month between quitting my old job and starting my new one, and buying a car was the last of my money. I started the school year and my job with less than $50 to my name, plus a car loan for a few thousand and a maxed-out credit card, thankfully with a $500 limit. + +Now, 4 months later, I am making regular payments on my car loan and credit card, and can pay my bills on time. + +The reason I'm writing this is that I just put $20 into my savings account. I haven't had money that wasn't immediately needed for something since I moved in. It's almost surreal. + +I know it's a small step, but I'm making more than I'm losing. +Its just a theme I've been seeing around lately where people seem to be in a bit of a rush to enter into a mortgage while the rates are low. + +The argument you hear a lot is "Well if I make a bunch of early repayments then I won't get stung down the track if interest rates increase". This logic is true, but it ignores the loss you take if a Market downturn occurs. + +I.E, if you took out a $1M loan, even at 0% interest and paid it all off in 5 years and property prices fell by 10% in that time, you'd still have paid $1m for a $900k house. + +Now I'll be impartial, I'm also not saying that you should time the market, I'm also not suggesting 100% absolute certainty that the property prices around the country will plummet, or any of that. I'm just saying that I've been hearing a ton of "Now's the time to pouch!" chatter around work and in my personal life. + +But if you're about to leverage yourself to death with your 50 year old parents as guarantor maybe just stop and think about it for a bit. + +Also just anecdotally, be careful who you get advice from. I'm an accountant and most people that work around me are absolute fucking idiots that understand debits and credits but don't know shit about economics, so if your accountant friend is preaching one way or another about things maybe get a second opinion. + +Edit: I use the word 'steady' loosely +So a couple of things have happened recently that I thought someone might put together and get a different viewpoint from the spun narrative: + + +1) Ken's plane hasn't been flying (credit to u/sam_galactic [https://www.reddit.com/r/Superstonk/comments/rgncvk/ken\_griffins\_private\_jet\_hasnt\_flown\_for\_more/](https://www.reddit.com/r/Superstonk/comments/rgncvk/ken_griffins_private_jet_hasnt_flown_for_more/)) + +2) There seems to be an active DOJ investigation that includes GME (credit to [u/buffalo8](https://www.reddit.com/user/buffalo8/) [https://www.reddit.com/r/Superstonk/comments/rd961o/reading\_between\_the\_lines\_pt\_2\_the\_sec\_may\_have/](https://www.reddit.com/r/Superstonk/comments/rd961o/reading_between_the_lines_pt_2_the_sec_may_have/)) + +3) Biden's Head of Security in the Secret Service is now spending a lot of close time with Ken ( credit to [u/GrapeApeTheGreat](https://www.reddit.com/user/GrapeApeTheGreat/) [https://www.reddit.com/r/Superstonk/comments/rcvjy0/citadel\_secret\_service\_just\_a\_reminder\_apes\_the/](https://www.reddit.com/r/Superstonk/comments/rcvjy0/citadel_secret_service_just_a_reminder_apes_the/)) + +&#x200B; + +Could it be that The Secret Service is investigating crimes that might have put the USD at risk - one of their core roles? + +Could it be that Ken has been asked to 'not leave the area' in the near future and is now being babysat to make sure that he doesn't do a runner? + +Is this why Citadel brought out terms saying that clients can't remove more than 6% of their holdings? Because the reputational impact if something were to happen? + +It's probably nothing but some tin-foil hatting on my part. + +But anything seems possible at the moment. +Long story short I have horrible neighbors. They’re functional meth heads. They have many dogs that they do not control. These dogs constantly get out and terrorize the neighborhood. They fed my kitten to these dogs, these dogs have attacked other peoples pets (on their own property), chased people around the block. My neighbors sic their dogs on my toddler son (I stopped them before the attack thank god). I bought this house as a rental property and after fixing it up I rented it out. Things finally escalated when the dogs broke through a wooden fence in my yard chased and attacked my tenant and his dog as they walked down the street. + +I have constantly called animal control and animal control constantly takes their dogs. Neighbor has been arrested for dogs running at large (among other drug related charges). The problem is that in my state per ownership cannot be banned. So even tho animal control removes the neighbor’s dogs, she just goes and gets more. Since I don’t live there, I’m not sure what my options are. Tenants don’t wanna sign a warrant + +So basically I feel as tho I’m out of options. Nobody is going to want to rent a house with extremely aggressive dogs next door. They will never stop owning dogs. Unfortunately property taxes are so low ($300 a year) that she’s never in risk of losing the house. At this point, what would you all do? Sell? + +I should add that this house generates $600 monthly cash flow after mortgage, pita etc. Then I save the rest for taxes and capex. 2.75% rate. It’s hard to let this go +Welcome to the Daily General Discussion thread of /r/EthTrader. + +Please find the [Daily Non-Eth Discussion thread here](https://www.reddit.com/r/ethtrader/comments/6xylt4/daily_noneth_discussion_September_5_2017/). + +*** + +The thread guidelines are as follows: +- Please refrain from discussing non-Ethereum related tokens here. You are welcome to discuss that in [this daily thread](https://www.reddit.com/r/ethtrader/comments/6xylt4/daily_noneth_discussion_September_5_2017/). +- All sub rules apply here so please review our **[rules page](https://www.reddit.com/r/ethtrader/about/rules/)** to become familiar with them. The rules page is also linked in the announcement bar above. +- This thread is meant to be more relaxed compared to the serious daily thread. Memes, lambos, moons are all welcome. +- If the front page gets overloaded with memes, all but the top two posted and voted on may be removed. Basically, please post memes in this thread first and upvote the best so the mods know which ones to keep if we need to remove a bunch of memes from the front page. + +*** + + Resources and other information: + +* Newcomers who have basic questions about Ethereum can find answers by visiting /r/EthereumNoobies or our [Ethereum Education wiki page](https://www.reddit.com/r/ethtrader/wiki/education). + +* To view live streaming comments for this thread, [click here](https://reddit-stream.com/comments/auto). Account permissions are required to post comments through Reddit-Stream.com. + +*** + +Enjoy! + +But then August comes, the price is now $50,000,000. Your finger gets itchy. "What if this is the peak?" You think. You press "sell" on half of your portfolio and you're immediately filled with regret. You feel like after a one night stand with someone horrible, you feel used. Dirty even. You cry in the shower because you know you've been ripped off. Apes call you a paperhanded bitch. + +Now it's september the price of a GME share is the same as a small countries GDP. You sell your last 5 shares and become the first billionaire of your village or town. Apes call you a paperhanded bitch... Again. + +It's now December. GME is trading for entire nations! You wish you'd held out for Japan, but now it's owned by the Ape Weeabo Consortium. 6 apes with 4.2 shares between them. With your .02 shares you can only afford Iceland. Fucking Iceland man, middle of nowhere fire country with zero Wendy's. + + + +You cry in your 6th lambo knowing that if you'd held you would have been able to afford the western hemisphere. + + +Don't be the ape with regrets. + + +TL;DR: Japan is the new floor. + + +Reposted and updated from my original on GME. + +Edit: Love yoy all! Some awesome comments! +**EDIT: Fixed the link to the Apex Merger Document. Sorry guys!** + +(Had to make a new post due to formatting issues and needing to add info.) + +Bear with me please, this is my first post in here, and I’m no expert. Just a lurker like many of you, who like the stock. 🦍💎🤲 + +[6/9/2021](https://eresearch.fidelity.com/eresearch/evaluate/news/basicNewsStory.jhtml?symbols=GME&amp;storyid=202106091804RTRSNEWSCOMBINED_FWN2NR13C_1&amp;provider=RTRSNEWS&amp;product=COMBINED&amp;sb=1)- *“May 26th, 2021 GameStop received request from SEC for voluntary documents and information regarding SEC investigation..into trading activity in securities and securities in other companies..GameStop intends to cooperate fully with SEC staff.”* + +This was included when the earnings were disclosed yesterday. + +Also, disclosed with the [Apex and Norther Star merger document](https://www.sec.gov/Archives/edgar/data/0001834518/000119312521183297/d121216ds4a.htm) released June 4th, was that there is an active lawsuit against apex and about 30 other companies. + +**Lawsuit info is on page 186. Part of it reads:** *“Plaintiffs allege that Apex, along with over 30 other brokerages, trading firms and/or clearing firms, including Morgan Stanley, ETrade, Interactive Brokers, Charles Schwab, Robinhood, Barclays, Citadel and DTCC engaged in a coordinated conspiracy in violation of anti-trust laws to prevent retail customers from operating and trading freely in a conspiracy to allow certain of the other defendants, primarily hedge funds, to stop losing money on short sale positions in GameStop, AMC and certain other securities”* + +I’m sure the lawsuit isn’t surprising, but still, thought this was all informative, and it might help some other apes with more wrinkles with future DD. + +Credit to u/Jackbauer13579 for bringing the info revealed in the Apex merger document to my attention. + +**TLDR:** GameStop released info about SEC investigation. Possibly connected with lawsuit revealed in Apex / Northern Star merger document. +After a two-month reduction in China's air pollution due in part to the January and February coronavirus restrictions, new data from Copernicus EU demonstrate the rise of nitrogen dioxide emissions in March as life begins to resume for the country. + + +>https://twitter.com/i/events/1240688520382926850?cn=ZmxleGlibGVfcmVjc18y&refsrc=email + +- + +We should see US recovering no later than June. May be as earlier as May/Apr. Cross finger. +ULTRA EDIT: Huge thanks to u/davegtturbo who literally scrapped through a recording of the entire day of TV to find the original archive. Never have I seen more retarded work in my life so thank you my brother. + +part 1 (8:20am) - https://streamable.com/itg5o9 + +part 2 (8:21am) - https://streamable.com/a032gu + +part 3 (8:22am) - https://streamable.com/ehm7ah + +part 4 (8:23am) - https://streamable.com/g7r98b + +ALSO : +https://youtu.be/teQY6xIyvps?t=155 +him being equally sus about Tesla in the same interview which was taken down. Only available in this review video on Youtube + +------------------------------------------------------- + +The media interview used to be a 4-5minutes video about GameStop, where he explicitly says “GameStop” and now it’s been cut everywhere to be a 2 minute video with no mention of GameStop. + +Go check it out for yourselves, we’ve all seen it by now from CNBC. They changed it! + +A) wtf sus shill omg + +B) did anyone record the OG footage? + +EDIT: + +Link 1: altered video + https://www.youtube.com/watch?v=PVBdyYynDNE&feature=youtu.be + +Link 2: a 4-5 minute segment of another topic on the same interview. Clearly they had no problem keeping this one 4-5 minutes long! + +https://youtu.be/Qk8x_638aIg + + +EDIT 2: + +I emailed CNBC about it and I’ve taken screenshots which prove the tampering such as time stamps which no longer make sense. I also commented on the YouTube video with hopes to shed some light on this... + +EDIT 3: I FUCKING FOUND [IT](https://podcasts.apple.com/ca/podcast/squawk-pod/id1480890290?i=1000509705599) + +The episode is 21 minutes long.... all the other ones are 40 minutes long. My god they completely nuked this off the face of the earth. +Brand new to the sub. Not fat and nowhere near FIRE yet, so hopefully this is still appropriate. + +Some background: wife and I are both physicians so have only just recently started earning. Both mid-30s, current gross household income $900k/year, should increase to $1.1-1.3M/year in next 3-5 years. Current NW ~$1M. Student loans paid off. Modest mortgage in a HCOL area. + +Given our late start, RE in our 30s or 40s seems out of reach, which I can accept. I like my job. Any late starters successfully fatFIREd by 50? Should I be looking at chubbyFIRE? Not necessarily asking for specific wealth-building advice but really just curious to see if anyone with a similar timeline has pulled this off. + +Thanks! +[https://medium.com/@jericho.k.roman/why-elon-musk-will-sell-10-of-his-tesla-shares-849e697ef3d6](https://medium.com/@jericho.k.roman/why-elon-musk-will-sell-10-of-his-tesla-shares-849e697ef3d6) + +TL;DR. Elon has 14.8 billion dollars of tax due when he exercises his options (which he has to do before August 20th, 2022), he can significantly reduce the tax bill by billions of dollars by dropping the Tesla stock price. Selling 10% of his shares covers all of his taxes and leaves him roughly a billion dollars in cash to play with. Basically, he's using Twitter to lower his taxes. + +Positions: straddles. + +Edit: In regards to the question by u/SaladTossgaming on getting puts: I'm thinking about it as well but concerned about IV. Also, the gamma position on Nasdaq is insane, we may be in for a parabolic run. I wouldn't be surprised if Tesla goes to 2k. Would love other's opinions on this. + +Edit 2: not bullish or bearish on tesla price. Simply commenting on the selling. + +Edit 3: Slightly out of context but pertaining to a question in one of the comments. There was $450 million of ITM call buying (January 2024 $1000 strikes) in a single day last week. That's not only a significant dollar amount but also, similar positioning had occurred prior to the SPX inclusion and share split. Sorry if this causes confusion about what action(s) to take but it's part of the reason why I'm neither bullish nor bearish (see Edit 2). Note - option flow isn't the clearest indicator; for example, a large holder of Tesla may have had to sell their shares due to Tesla becoming too large of a % in their portfolio (required to sell per portfolio risk management), however - since they still want to participate in the upside they may have purchased ITM options to compensate for the sale. +I have an investment advisor from an Asante affiliated firm. He has me in some Fidelity funds for our RRSPs that have performed well. They’re in line with investments that I have with RBC as well. + +Our TFSAs are in a Manulife bank account, but are sitting in cash now for over a year. That’s close to $100K that’s doing nothing. + +I have a business to run, so I don’t spend nearly as much time as I should thinking about these things. + +He has never mentioned ETFs to me - I learned about them from this sub. + +So I brought it up to him last night in an email, specifically mentioning the Vanguard EFTs. VBAL looks appropriate for us and I told him as much. + +I guess he doesn’t market it or does not like the MER as he is now steering me towards a CI Mosaic EFT that I know nothing about as it only was born in January of this year. + +The only difference that I can see right now is that it has an MER of .76 + +I am open for comments. +Winter is hard for landscapers. Work dries up, and the ground doesn't. Even when you have work to do, the ground is either too frozen or too muddy. You go from weekly overtime to on call. Last week I worked 10 hours. + +In the Dave Ramsey typology of spenders/savers and nerds/free spirits I am both a nerd (love to budget, every penny has a job) and a spender. So in past years when the lean times came I would incrementally wipe out my savings to maintain the same way of life, defeating the purpose of my obsessive budgeting. + +This year I decided - here's a radical fucking idea - to change my lifestyle in response to a change in income. + +I have a beautiful partner, a tiny kitty 😺, a full tank of gas, food in the fridge, $28 of "allowance" (grocery) money until next Wednesday, bills paid through 2/15 (through 2/27 as of next paycheck), and most importantly my untouched savings. I have books to read and people to have over for dinner instead of going out. I'm still putting the same percentage of my income towards savings and debt. Just yesterday I put a deposit towards a secured credit card (my first CC ever, at 29yo lol) to start trying to boost my ~~"I love debt" score~~ credit score. Life is good. +Welcome to the Daily General Discussion thread of /r/EthTrader. + +*** + +Thread guidelines: + +- Please refrain from discussing non-Ethereum related tokens here. You are welcome to discuss altcoins in the Daily Altcoin Discussion thread. +- All [sub rules](https://www.reddit.com/r/ethtrader/about/rules/) apply here so please be familiar with them. + +*** + + Resources and other information: + +* Newcomers who have basic questions about Ethereum can find answers by visiting /r/EthereumNoobies or our Ethereum Education wiki page, [see here](https://www.reddit.com/r/ethtrader/wiki/education). + +* To view live streaming comments for this thread, [click here](https://reddit-stream.com/comments/auto). Account permissions are required to post comments through Reddit-Stream.com. + +*** + +Enjoy! + +Hey guys, [I did an AMA on here](https://www.reddit.com/r/realestateinvesting/comments/817z6d/ama_ive_built_a_portfolio_of_35_rental_units_and/) a few months ago about how I grew my portfolio to 35 rental units and $10k+ in monthly cash flow in about 5 years, which got a lot of attention. + +Many people have been asking me about my property selection criteria and what things I look for when buying rentals, so I wanted to do a write-up on that. This will likely be a multi-part series because it's too much to list in one post. + +I hope this helps some new folks out there who are just getting started. + +&nbsp; + +### **All Property Criteria Is Personal** + +First, an obligatory disclaimer – there is no “correct” or “best” property criteria. In my experience, most real estate investors find their niche and develop their criteria around that. + +So take all of this with a grain of salt - these are just the things I like to focus on. My own criteria changed over the years, as I became more experienced and shifted toward multi-family properties instead of SFRs. + +&nbsp; + +### **Where Do You Find This Information?** + +You should be able to find all of the info below through one of the following channels: + +* **MLS Listing**: If you're looking at the property's listing in the MLS (or through one of the "secondary" sources like Zillow, Trulia, Redfin, etc.), the listing should have most of the home facts. Ideally verify a few different sources, as there can be some innacuracies +* **Listing Agent**: Many listing agents will have an "offering memorandum", which is basically a PDF/pamphlet about the property. This applies more to multi-family and commercial agents, but I've seen this with SFRs as well. If you're contacting the listing agent, ask them for any other additional info they may have - photos, current lease/rent roll, operating statement, etc. +* **County Records**: All counties in the US have a database of properties with at least some information on there. Google search for "COUNTY tax assessor" and you should find a site where you can search property records by address. +* **Google Maps**: You can look at the plot from bird's eye view, check surrounding area and even do a "virtual drive-by" through Google Street View. +* **Personal Visit**: I will almost always visit the property myself before putting it under contract or at least during escrow. If that's not possible, ask a trusted friend, family member or partner do it for you. + +&nbsp; + +### **Property Criteria** + +Here are the things I primarily focus on and some notes about my preferences. Again, the actual criteria may be different for you, but I think you should check all of these before buying a rental property: + +&nbsp; + +#### **Purchase Price** + +This one is fairly simple - your available cash will determine the maximum purchase price of the property. A typical loan requires a down payment of 20% - 25%, so take your savings and multiply them by 4 or 5 to get your max purchase price. For example, if you have $20,000 in the bank, you will be able to buy a property for about $80,000 - $100,000. + +This assumes you’ll be using conventional financing. If you’re using other creative strategies, you can get away with investing less personal cash and buying more expensive homes, but you'll probably always have a price limit regardless. + +&nbsp; + +#### **Location** + +You’ve probably heard that location has a huge impact on how successful your rental property will be and that’s 100% on point. I’ll write a separate post about picking a good market/city/neighborhood, but the street location of the property matters as well. + +Most tenants prefer quiet residential blocks and streets. You may want to avoid purchasing properties at busy intersections or near loud highways, commercial businesses or venues. At the same time, it's always good if there are job, shopping and entertainment hubs not far away. If the property is in the middle of nowhere, your potential tenant pool will be smaller. + +Finally, consider the layout of the plot. Homes at the bottom of a valley may have water drainage problems, while those on a steep slope may have foundation issues. + +&nbsp; + +#### **Section 8 or Straight Rent Tenants** + +This goes hand in hand with the market/neighborhood selection and the property location. Although it's usually possible to find both "straight rent" and Section 8 tenants even in the lower-end neighborhoods, it may be difficult to avoid Section 8 in certain areas. + +I generally prefer to avoid Section 8 or any kinds of assistance housing programs, so I look for properties where I can find straight rent tenants. + +&nbsp; + +#### **Flood Plane** + +You can look up a property's potential flood information online on something like [FloodTools](http://floodtools.com/Home.aspx), or other sites. Their reports will tell you if the property is in a flood plane and likely to flood. I tend to avoid buying properties in areas that are prone to flooding, but if you do end up buying there, your lender will almost always require flood insurance - so factor that into your cash flow projections. + +&nbsp; + +#### **Year Built** + +I avoid homes older than 50-60 years, so if it was built before 1950, I will likely skip over it. Older homes will almost always have more ongoing maintenance issues, even if some rehab work was done over the years. Additionally, older properties may have used poor or unsafe construction materials (like asbestos, lead paint, etc.), which you may have to replace. + +If you are looking at an older home, at least try to get a record of what rehab work was done over the years and absolutely make sure you get a full, top-to-bottom property inspection done before buying it. + +&nbsp; + +#### **Size & Layout** + +Different areas will have different prevailing home sizes and layouts because cities are built in blocks. While there will probably be demand for a variety of properties anywhere, I prefer to buy rentals that are average and "expected" for that particular neighborhood. + +For example, if this is a college town and you’re buying a property near a university, 1 bedroom or studios may work well. But if this is a suburban, middle-class area – probably not so much, because you’ll be renting mostly to families. + +So I wouldn't necessarily get hung up on the exact beds/baths and square footage, but consider what tenants are looking for in the area. + +You may also want to look at the inside layout of the property. Some sellers may have a floor plan or you can look at the pictures. What you're looking for is that the home is functional. Focus especially on the kitchen, bathrooms and storage areas, which are pain points for many tenants. + +&nbsp; + +#### **Parking** + +In order of preference, tenants tend to prefer garages, covered parking or at least designated off-street parking. A house with only street parking may be harder to rent. At the same time, automatic garage doors or external parking structures will require more maintenance, so keep that in mind. + +&nbsp; + +#### **Yard** + +Front yards can add some nice curb appeal, back yards usually appeal to larger families. I like very low-maintenance landscaping and don't buy properties with any sorts of yard amenities or improvements, such as pools, fountains, large trees, etc. – they cost too much to maintain and are generally not worth it. + +&nbsp; + +#### **Condition** + +My preference on property condition is to buy properties that are dated and worn out, but that don't need a complete tear-down. They may need a new paint job, new flooring, new appliances, maybe new kitchen cabinets or bathroom work. I don't like properties that have serious electrical, plumbing or structural problems. + +I find these types of properties to work the best for my preferences - they have opportunity to do some cosmetic work and increase rents, but at the same time are reasonably priced because they don't look new. + +&nbsp; + +#### **Cash Flow** + +If everything above checks out, I do my cash flow analysis on the property and focus on the monthly cash flow, COC, ROI and IRR I'm going to get. This deserves a separate post, so I'll write one up next time. + +&nbsp; + +*** + +&nbsp; + +Feel free to ask any questions. Like I said, I'll be doing a follow-up to this next time to go over how I analyze cash flow, neighborhood and market. +I was thinking the other day about my friends, family, neighbors, and acquaintances who are in their 60s. If you would have asked them 20 years ago when they expected to retire, most of them would say at age 70. + +Few of them thought about the challenges of holding on to their jobs after age 60. + +The first challenge is age discrimination. A good percentage of the people I know in their 60s are not working anymore because they were pushed out of their jobs due to layoffs or trumped-up charges and fired. Their employers thought they were too expensive, too slow and out of date. And when they tried to get another job, few people would even consider them. They were called overqualified. + +The next thing that their younger self did not realize would happen was their bodies and minds went downhill in their 60s, making it hard to keep working. It became nearly impossible to keep up with their coworkers who put in 60 hour weeks. + +My advice to people in their 40s, please understand being in your sixties and trying to keep working is going to be tough. Save and invest your money now. +Just came back from an auction, the auctioneer managed to squeeze water out of stone, I sit there baffled at how no one else can see it. Starting off with lies about the reserve bank and rates, about 200,000 new migrants coming in which will drive prices up, say that the property market has only cooled from "nuts" to "normal". Using plenty of shame language, implying bidders who can't keep up were (quote) "weak" , "insecure" and "show their opponents they are thinking about the money". Not to mention playing on gender tropes of "wives" being let down by their husbands who can't afford property. They try to make it personal and build a rapport trying to get bidders to squeeze out every dollar...it even went went down to $100 increments!! Wtf LMAO. + +God I'm legitimately disgusted by him and the fact that they have that audacity to read that "rules of the auction to be conducted within the scope outlined by REIV and the institute of law". + +I didn't bid today, as the usual under quoting priced me out literally on the second bid.....rant over. +Hello everyone, im very new to the dividend community... as in 2 hours ago I just got motivated to join. My question is, why would you not just put all of your money into SDIV, which currently has a 7% dividend monthly (i think?). It seemed to remain at a pretty constant price, and that payout is pretty nice. What am I missing here? Teach me wise redditors. +Hello everyone, im very new to the dividend community... as in 2 hours ago I just got motivated to join. My question is, why would you not just put all of your money into SDIV, which currently has a 7% dividend monthly (i think?). It seemed to remain at a pretty constant price, and that payout is pretty nice. What am I missing here? Teach me wise redditors. +First off, this probably isn't the right sub. If there's a better one, I'd really love a recommendation. + +I've been in the process of buying a house and got pre-approved and all that with a lender local to where I'd be moving. We went under contract about a week ago and finally got the rates this week, which seemed high. So I shopped around, got some quotes for way lower, and asked my original lender if we could get closer to what I was seeing elsewhere. + +I was in lending for a bit, albeit a different kind, and this was common practice. However my original lender kind of went off the deep end and said because we were shopping rates that she'd cancel our appraisal appointment and tell the seller that our financing was in jeopardy. + +In my flavor of lending, the technical term for this kind of thing was "absolute bullshit". I'd really like to make a report to her licensing board for trying to blow up the sale, but even after some google searches I'm not sure where or who. Anyone have some advice? +Hi everyone + +I may end up sounding like a complete dick but let's hope not + +I'm 19 and working in an office in Manchester with fab people. I love what I do (it's basic admin but the people I spend my days with are awesome and that's a big part for me). + +I was an apprentice for a year making £10k and now that I've secured full time admin work with them I got a raise to £18k. + +I also want to progress my education and hopefully become more than just admin in future and my boss agreed and thinks I'm capable. He offered to assist in paying for my tuition (it's not a degree - it's a specialised work qualification) and has spent nearly three thousand pounds on my enrolment and course materials. Whether there are deductions from my salary because of this, I don't know. It's not clear on my payslips and I don't care to ask because it doesn't bother me if that's the case. + +Would it be an absolute pisstake after all he's done for me to ask to join the work pension? I just want to start saving for retirement and I'm a serial spender so locking my money away appeals. + +Should I just get a SIPP instead and forget about the extra contribution? What do you think? + +Thanks +I know many of us disagree on many things. We all have our favorite pet projects and argue about everything from proof of work versus proof of stake, to store of value versus medium of exchange. Some of us are into defi, for others its NFTs; maybe it's meme tokens that float your boat, or just plain old electronic cash. + +But I like to believe we also all share something in common. We believe in the power of crypto. We believe in what it represents and what it can one day make possible. But it's not just going to happen on its own. The future isn't going to be handed to us on a silver platter and it's going to take as many of us as possible to fight the powers that be and make our voices heard. + +I'm not proposing we take down the fed tomorrow, but what I am talking about is something much smaller, something I'm hoping you can help me set right. + +The other day I posted [here](https://www.reddit.com/r/CryptoCurrency/comments/qyb6zt/an_open_letter_to_johnny_lyu_and_kucoin_exchange/) about the exchange Kucoin. I explained how they've been holding \~$50K of my BCHA (aka XEC on every other exchange) for over six months without letting me withdraw. I shared emails showing how they've given me nothing but the runaround since May, and how Kucoin themselves had [announced](https://www.kucoin.com/news/en-kucoin-will-support-bcha-upgrade-0820) their support of this project 3 months ago, causing me and others to buy even more. + +[People's exchange my ass.](https://preview.redd.it/qwcsz21p09181.png?width=1370&format=png&auto=webp&s=85286d659c2edec9267f65c9b0496e13e328e285) + +But they've failed to live up to their word. + +While I was thankful to see so many kind and supportive comments, giving me hope for the crypto community at large, I'm sorry to say Kucoin still has yet to tell me when I'll be able to withdraw my coins. + +To those who suggested I just sell my BCHA and withdraw in USDT, the fact is I can't because there is no liquidity left. Who wants to buy a coin on an exchange if you can't withdraw, and I hold enough coins that I would have to sell for cents on the dollar if I did. Not to mention I'd just be passing off the problem to some other poor soul. + +But what's most important is that I shouldn't have to do any of that. And giving up would just be letting Kucoin off the hook, which I'm not about to do. + +So I'm asking for help from the wider cryptocurrency community. I want to believe that people in this community, more than any other, understand the difference between right and wrong and believe in a sense of justice in this world. + +I'm asking you to help me right this wrong, and share this post with as many people as possible. My goal is to reach the top of this subreddit and send a loud message to u/Johnny_Kucoin (Johnny Lyu, CEO of Kucoin) that his exchange can't get away with this. + +At this point I know that \~$50K of my money is probably gone, but I want everyone in crypto to hear about this so they understand the type of exchange Kucoin is. Because if they can steal my money, there's nothing stopping them from doing the same to you. + +I for one am tired of industry players who give crypto a bad name. It's time to call out bad actors and send a message to these companies that they must treat their customers right or we'll simply move our business elsewhere. + +I know this is a longshot, but I'm asking you to spread the word, because I am confident that this space is full of amazing people who believe in supporting each other and holding bad actors accountable. + +I'm not a vindictive person. I don't want Kucoin to go out of business. I just want them to do the right thing and make sure others aren't cheated out of their money like I was. + +Thank you for reading and best of luck to everyone. +Until I was in my 30s, I was an Evangelical Christian. I attended a Christian college, became a missionary, the whole thing. As a woman, I always assumed I'd simply marry someone to take care of me. I never considered personal finance on my own, since I was certain God would bring my "knight in shining armor" to save me. + +I broke up with the Christian guy I'd been dating (for 10 goddamn years!) and was suddenly faced with a stark reality: I have to be my own financial hero. + +I made a plan to get myself out of $176,000 of debt. Then after that, made a plan to start aggressively saving for retirement. + +Fast forward to today. I'm in my mid-40's. Zero debt. No husband or kids. And just hit my $100,000 net worth goal! + +I wish I could celebrate but I also realize how far behind I am. The "retire early" part is out of reach for me, but I think I can still achieve "financial independence" within my lifetime. I wish my younger self had not only pursued better financial literacy but I wish I'd known my own value. I wish I hadn't waited for someone to financially save me and recognize I had the power all along. + +Is there anyone on this sub who started late and still managed to hit FI (or even RE)??? What age did you start? +From the 2022 proxy statement filed 4/21/22: +https://gamestop.gcs-web.com/node/19701/html + +Page 48: +> If our stockholders approve this proposal at the annual meeting, we intend to file a corresponding Certificate of Amendment to our Existing Charter reflecting the approved amendment with the Delaware Secretary of State as soon as practicable following the annual meeting, at which time the increase in the number of authorized shares of common stock would become effective. + +They need to file with the SOS of Delaware to finalize the 1 billion shares authorized by today's vote + +>The primary purpose of increasing the number of authorized shares of our common stock is to facilitate the potential Stock Split. Our Board intends to approve the Stock Split, subject to and contingent upon stockholder approval and the effectiveness of the Authorized Shares Amendment. + +They are planning on doing the split dividend because it is the "primary purpose". This makes me feel it will happen sooner than later. But they have to wait for the Delaware SOS amendment "effectiveness". + +**Things are going as planned.** + +. + + +. + +Additional commentary: During the call earlier, the speaker may have just read the legal answer he was directed to say because the votes had not been tabulated yet. It is possible that they file for split dividend tomorrow because they knew the proposal was going to pass so they had all the paperwork ready and they just submitted to Delaware SOS about 30 min ago. + +A split dividend in the near term is a FOR SURE thing unless we want to think that Gamestop lied to us. I certainly do not believe that. +Take this with a pinch of salt. Hopefully helps someone. + +Proof: [https://imgur.com/a/XcK94lc](https://imgur.com/a/XcK94lc) + +Two months back, I posted this in /r/realestate: [https://www.reddit.com/r/realestateinvesting/comments/nd6rqp/bidding\_for\_a\_house\_without\_an\_agent\_bay\_area/](https://www.reddit.com/r/realestateinvesting/comments/nd6rqp/bidding_for_a_house_without_an_agent_bay_area/) + +I work on first principles and play it risky. So, this is not for everyone. The deal was for multiple millions. + +House went on the market. I called up the seller's agent and show interest. Checked out the house and decided to proceed. Told the seller agent I am not represented, and they can keep the 3% in whatever split between them and the seller. It was almost too good for them that I sounded like a naïve idiot. Aligned with their interest, they become both the seller and buyer agent (CA rules) and decide to keep 2% (original 3% + 2%) to the agency. Gives me all the scoop to win the deal. Agent talks to the seller to get a feel and decided to change the split to 1.5, 1.5%, eventually taking it to 2% back to the seller (as you see in the screenshot above). I am happy they aren't greedy. With one counteroffer, the seller accepts. To gain trust I immediately transfer 3% earnest in a day. + +The agent guides me, and we close in 30 days. I paid $10,000 above the list price. + +Risky but paid off. In retrospect, if I had an agent, I would have paid at least $300,000 above list price without any guarantee of closure. + +I was also in touch with the author of this tweet: [https://twitter.com/sweatystartup/status/1361036020117082121](https://twitter.com/sweatystartup/status/1361036020117082121) and he was very helpful. + + +**Edit:** + +The 300K is an exaggeration. I’ll never know. But the house went into pending even before they uploaded all the pics to Redfin/MLS. + +I am almost tempted to post a link to Redfin… + +&#x200B; +An apology is in order after my prediction got disproven today. + +I'm sorry. Kind of feel like I let Apes down here. Even though a majority of this theory was speculation, I was so confident that I was gonna be right because it all made sense, and yet my obstinacy got the best of me. + +Here's the latest [Schedule 13D](https://www.sec.gov/Archives/edgar/data/0000886158/000092189522002496/sc13da313351002_08182022.htm) that debunks my thesis: + +https://preview.redd.it/zpgywasfoji91.png?width=944&format=png&auto=webp&s=4f487efb7971e30e8d794002e2af0b201ab611eb + +All BBBY positions sold: + +https://preview.redd.it/5z3r37nooji91.png?width=1335&format=png&auto=webp&s=43a8c1591118e0800893e7eddd0a7347b8017e83 + +And my prediction that he was betting on MOASS before Jan 2023 because of the BBBY calls, thereby using a basket stock to take profits during MOASS, is invalidated: + +https://preview.redd.it/iho6fosnmji91.png?width=691&format=png&auto=webp&s=2f689aa9790bccb2acb814b729bdf32d4560527a + +Why did RC sell all his BBBY positions? + +I don't know. And tbh after my incorrect prediction, I'm not gonna try to speculate. But I do trust RC. He's a good man. He knows what he's doing, and so for whatever reason he did this, I trust that he's got everything planned out. + +He's never sold a single GME share, and has only added to his position. He cares a lot about GameStop and its transformation. I considered the BBBY thing to be more for profit taking, but he did put some of his people in the BBBY board and help the basket stock out in many respects, which is another wedge towards SHFs. + +As for if MOASS is gonna happen by the end of 2022, one of the main things I was riding on was RC's calls, because I legitimately thought he was predicting MOASS before Jan 2023, but since that got shot down, I'm less certain ngl. + +Ignore the whole 3 month thing with the calls, because that's irrelevant now, but in terms of MOASS not happening by the end of the year, that is something that is yet to be seen, because there's still lots of factors at play. + +Unlike the RC BBBY calls theory that was majority speculation, we do have confirmation that Bafin and Austrian FMA (the German and Austrian SEC respectively) are still currently working on ensuring that all their brokers have received GME shares correctly (in the form of a dividend): + +[Recent German SEC response](https://www.reddit.com/r/Superstonk/comments/wmk4ia/post_from_german_sec_for_bafin_the_actual/) + +[Recent Austrian SEC response](https://www.reddit.com/r/Superstonk/comments/wnl9il/austrian_financial_market_authority_fma_the/) + +There's no speculation here. Neither is the fact that GME has the Golden Cross, or virtually 133 consecutive days of 100 utilization (except 1 day that was 98%), or the facts that 2021Q3&4 CTB were infinitesimal compared to CTB rate right now, or the fact that new DRS numbers are coming out in September, and DRS rates have only been increasing this year. So, there's still tons and tons to look forward to. I could still be wrong about MOASS not happening by the end of 2022, and in that case y'all will get some sort of ass either way (either moass or myass), so it is what it is. + +But I'm really just making this post to apologize and provide reassurance. I'm sorry, I messed up, should've been more diligent before making a prediction like that; however, the future is still unphased for GME. That should be an important takeaway. + +Take care, and see y'all on the moon. 🦍🚀🌚 + +Edit: Wanted to add that after watching the video of Cramer freaking out and [calling for the SEC to subpoena RC](https://www.reddit.com/r/Superstonk/comments/wrm6k7/cramer_calling_for_sec_to_subpoena_rc_and_the/?utm_source=share&utm_medium=web2x&context=3), it tells me that RC made the right decision. + +Edit #2: Here's a post from Ape u/WhatCanIMakeToday that explains what possibly happened. Honestly adds up, and I think a lot of Apes wanting to dig deeper could greatly benefit from the information provided in this post, so I'm sharing it here: + +[GME and BBBY: RC Turning Tables in 69-D Chess](https://www.reddit.com/r/Superstonk/comments/wrvoo5/gme_and_bbby_rc_turning_tables_in_69d_chess/?sort=confidence) +Given the massive increase in property prices in many areas over the past 12 months, check where in the UK you can afford to purchase an average priced property. + +This is the link to the [UK property affordability calculator](https://tarsolutions.co.uk/blog/uk-house-affordability-calculator/). + +Enter your deposit, your income and, assuming you can borrow 4.5x income, the tool will show where you can afford an average property. + +Want to buy a detached house? Then filter for Detached! + +Data is missing for different property types in NI - only an overall average is available. + +Note this is just for fun, it's only a guide. There are too many factors at play to know what you can actually purchase! +Recently caught wind of ETFs from a podcast and it has intrigued me since then. Bought books about it, have been religiously watching YouTube videos about it, still no closer to feeling comfortable about diving in though. + +My initial plan is to divert $1000 a month every month in to ETF’s. I’m confused about best brokerage, and just the overall direction when it comes to building a portfolio. Any advice would suffice, thanks in advance. +Hello! + +Is there a good app, even a free one, that lets you plug in all the ETF you have to see overlap? So I could see if I should get rid of one or need to get some different ETF? + +Thanks! +Thoughts on that? Am I the only one who sees this as one of the biggest bubbles ever in the market? This must be one of the greatest short squeezes of all time? When VW had the biggest short squeeze of all time it went up to 370b usd in value, and TSLA is soon passing that market cap. + +VW crashed HARD when it crashed however. Will TSLA be the same story? +I am following the project of PRL for some time now and feel like it gets a little to less attention in general. So I decided to give a small insight why I believe in the coin and the project behind it. + +So first for those of you who don't really know what PRL is I suggest you to have a look at their webside: +https://oyster.ws/ + +Now that you have a impression about what Oyster Pearl is, I would like to tell you why I am very optimistic about the project. + +1. An innovative idea that focuses on a problem that has been present for some time now. + +A majority of todays websites are trying to make money with advertisement, however as you all know a common trend of internet users is, to use an adblocker. A majority of people reading this post will use adblocker software themselfs. This i a huge problem for website owners as it leads to a enormous loss in income for them. +The Oyster Pearl technologie can solve this problem by giving the owners a secondary way to make profit out of their website. + +2. Simplicity of implementing the Oyster technologie into the website + +The fact that the website providers only have to implement one line of code to take advantage of Oysters's technologie can be big to make it interesting for big and small websites. + +3. The marketcap of PRL is still rather small -> huge potential of growth + + Because investing in the top-players in the market is pretty risky right now (in my opinion) as these coins are getting a lot of hype I was looking for rather unknown projects with a big potential of growth. +Oyster Pearl, while already jumped from 0.50$ in price at the beginning of 2018 to a price of 2.36$, has still only a marketcap of 74.996.371 USD which ranks it on rank 229. + +I hope I gave you a small insight on the coin and why I think it has potential for growth in the weeks in months to come. Let me know your opinion on the project. + +LINKS: +Website of Oyster Pearl: https://oyster.ws/ +Coinmarketcap link: https://coinmarketcap.com/currencies/oyster-pearl/ +I'm reading so much doomsday comments about the current transaction backlog, some even going as far as attributing the IOTA rise to it. As a sidenote: IOTA is rising because it announced partnerships with a number of very big companies. + +Now for the scaling problems: *There really is nothing to see here*. I don't understand why people are acting surprised that Ethereum can't handle the volume generated by the crypto kitties game, even going so far as being negative about it. The current network transaction capacity is **very well known**. + +There are many scaling solutions in the works: NONE have been implemented yet, all are showing progress and might be a little ahead of schedule. The main ones are POS, Sharding, Plasma, and state channels (raiden and other solutions). The first version of Raiden is available on the mainnet, but this is not being used by cryptokitties. They'll have to change that or someone will come along and create a much faster version based on the current raiden implementation. + +So please stop all the FUD, ethereum's current state is known and the foundation has laid out the scaling roadmap. Cryptokitties might be a bit annoying right meow, because it's clogging the network, but this is very good for Ethereum in the long run. + +No new news about it that I can find and it's been a steady drop since this morning. + +It's down to its May levels which was shortly after it became public via SPAC. The drop itself shouldn't be surprising at all, it's that it took so long after all the allegations came out, its founder leaving the company immediately, and the fact that it has nothing to show for itself. +Anyone noticed that Next Investors only display results from 2019 onwards? No doubt they are masters at short term pumps; but how do they perform long term? + +Unfortunately for them, old websites are archived and can still be viewed. Just go to the Wayback Machine website. So I pulled up Next Investors from 2014 and looked over their Mining picks. Results below, please feel free to correct any mistakes, as this is what I could gather from Google searches, since most of these stocks are now delisted. + +**Cleveland Mining (CDG)** +Bankrupt May 2018 - 100% loss + +**Tigers Realm Coal (TIG)** +Bought 0.17 cents - Now 0.008 - 95% loss + +**Orinoco Gold (OGX)** +Bankrupt April 2019 - 100% loss + +**Potash Minerals (POK)** +Delisted - unclear why - possibly acquired? + +**Australian Minerals and Mining Group (AKA)** +Delisted - generic name makes it hard to find info why, guessing bankrupt? + +**Cradle Resources Ltd (CXX)** +Bought around 0.20 - Now 0.067 - 66% loss + +They have heaps of other picks as well for other years and sectors. I only had a quick look at some of those, but got the idea pretty quickly. + +Waste company **Anaeco (ANQ)** bankrupt a few years after Next take a "relatively large position". Another one is **Esense (ESE)** which has been in a trading halt since last year and it looks like Next are probably still bagholders with a position. + +The morale of the story is to dump before they do. +So about a month ago I was at work and started feeling sharp pains in my side. Walked myself to the Urgent Care. They called me an ambulance as they said it could be a kidney stone or appendicitis and both were life-threatening. + +The ambulance company sent me documentations to see if I qualify for full or partial write-off, which I appreciated. + +The hospital however, sent me a [bill of $5,077.90](https://imgur.com/a/wFWVhbo)... and after I told them that I have no insurance; that wife and I are SEASONAL workers in retail and that Unemployment completes my income; that we pay daycare; their reply was "best we can do is take 35% off for self-pay". + +I asked if there was anything that I can do to qualify for a lower amount, any charity programs. + +"Nope." + +Now I've read of people on this sub that have managed to reduce a hospital bill of this amount to about $500. But this hospital doesn't seem to be willing to work with me at all. + +I appreciate all help and advice. + +**EDIT: Updated link with ITEMIZED BILL.** + +**EDIT 2:** Wow! I am truly blessed to be overwhelmed by so much support! Thank you all for the advice and care. Also thanks for the upvotes and awards! + +**EDIT 3 on Seasonal Work:** + +So I got a lot of questions as to why my wife and I don't have full-time jobs. I'll gladly share my story and try to not make it too lengthy. + +My wife and son are Brazilian immigrants. I finally managed to bring them here in March 2019. It took nearly a year for my wife to get her Greengard and, thus, be eligible to work in the US. + +In January of this year I got fired from my dream job, where I earned $45,000/year. + +I picked up my old job at retail (Best Buy) of $15/hr and I was labeled as SEASONAL in the system, since no part-time or full-time positions were open. + +Then covid came and I got furloughed. + +After 3 months, I was called back still as SEASONAL. However now, there's even less chances of Part-Time or Full-Time positions being open. Meanwhile, my wife got hired at Marshalls at $10/hour. + +We've been searching high and low for better jobs and have been going to interviews, but, as usual, all we hear is "we'll let you know either way." + +I hope this clarifies some. + +**EDIT 4:** Kind people. My family is truly blessed to have such overwhelming support from such a positive and helpful community! + +I PROMISE you that none of your comments are being buried and that I'm reading each and every one! I'll do my best to keep replying but I work until late and then work the morning shift tomorrow. But thank you all so much! +Hi all, + +After neglecting my TFSA for a bit too long, I've almost maxed it out. + +Obviously this means investing larger amounts. For the coming years, since we only get around 6K yearly contribution, what are the different "strategies" or views on how to invest this yearly amount? + +Say I have the full 6K ready to put into my TFSA by February, do I lump sum invest, monthly (though I have a $10 fee per trade)? + +What if I have 500$ a month that I can afford to put in my TFSA? Do I invest 500 a month or let it accumulate? + + +I personally have a mix of Canadian and American ETFs/stocks (Also have AAPL and AMD in Canadian which I had bought when I just started), and have some ETFs in USD which I used Norbert's Gambit. + +I was thinking of keeping the max yearly contributed amount UNCONTRIBUTED for that year, and really actually investing it the following year, to be sure to have at least \~6K ready just in case. + +What do you guys do? I hope this made sense lol +Surely there are at least 300 of us with $2k + that would be willing to register ASX\_bets as a businnes and then get listed? It would, by definition, be THE meme stock. + +Also if someone has $4mil in assets that could be good as well. + +https://preview.redd.it/cgta1nr344m51.png?width=947&format=png&auto=webp&s=788aa8e9970d199e337ec38f751dff4e54f9c82b + +Edit: We could also start an ASX bets only fans and meet the profit test requirements. +Hey all.... just a friendly reminder that the market is still full of fuckery and that when you sell your shares to move onto a different financial reality, use limit orders and limit orders only. + +It would be a shame to wait as long as we have for MOASS and for your shares to sell at a price below what you find acceptable. And if you don't think that the market will try to fuck you over and take your shares for an amount far, far, FAR less than that... well, you haven't been paying attention. + +Be safe, limit orders only. You set the price and nobody else. +https://www.bloomberg.com/news/articles/2020-04-15/all-the-views-of-how-the-stock-market-lost-its-grip-on-reality + +Unemployment is spiraling toward 20%. Retail sales just dropped the most on record. Global economists predict the worst recession in eight decades. And stock investors have made peace with it all. + +Up 27% since mid-March, the S&P 500 on Tuesday capped its biggest 15-day run since 1933. So furious has the revival from the fastest bear market been, equity valuations are now back to where they were before it all started. Wednesday’s pullback hasn’t even retraced one day’s advance. + +It’s a Wall Street adage: The stock market isn’t the economy. Rarely has it seemed more true than in the frenzied advance of the past few weeks. +Thanks very much for this sub... I've lurked and learned so much from you folks. + +&#x200B; + +Age 53. $502k in 401k, $502k in other investments, $45k living expenses. $21k a year pension and health care when I turn 60 from the Air Force. Didn't count social security. House is paid for, no loans, spouse, or kids. + +&#x200B; + +[https://firecalc.com/index.php?wdamt=45000&PortValue=1040000&term=42&ss1=0&ssy1=2032&ss2=0&ssy2=2034&signwd1=-&chwd1=21000&chyr1=2026&wd1infl=adj&signwd2=%2B&chwd2=0&chyr2=2024&wd2infl=adj&signwd3=%2B&chwd3=0&chyr3=2028&wd3infl=adj&holdyears=2019&preadd=0&inflpick=4&override\_inflation\_rate=3.0&SpendingModel=constant&age=48&pctlastyear=0&infltype=PPI&fixedinc=Commercial+Paper&user\_bonds=4.0&InvExp=0.18&monte=history&StartYr=1871&fixedchoice=LongInterest&pctEquity=75&mix1=10&mix2=10&mix3=10&mix4=40&mix5=40&mix6=10&mix7=15&mix8=5&user\_inflation=3.0&monte\_growth=10&monte\_sd=10&monte\_inflation=3.00&signlump1=%2B&cashin1=0&cashyr1=2022&signlump2=%2B&cashin2=0&cashyr2=2032&signlump3=%2B&cashin3=0&cashyr3=2037&process=survival&showyear=1960&delay=10&goal=95&portfloor=0&callprocess=Submit&FIRECalcVersion=3.0&](https://firecalc.com/index.php?wdamt=45000&PortValue=1040000&term=42&ss1=0&ssy1=2032&ss2=0&ssy2=2034&signwd1=-&chwd1=21000&chyr1=2026&wd1infl=adj&signwd2=%2B&chwd2=0&chyr2=2024&wd2infl=adj&signwd3=%2B&chwd3=0&chyr3=2028&wd3infl=adj&holdyears=2019&preadd=0&inflpick=4&override_inflation_rate=3.0&SpendingModel=constant&age=48&pctlastyear=0&infltype=PPI&fixedinc=Commercial+Paper&user_bonds=4.0&InvExp=0.18&monte=history&StartYr=1871&fixedchoice=LongInterest&pctEquity=75&mix1=10&mix2=10&mix3=10&mix4=40&mix5=40&mix6=10&mix7=15&mix8=5&user_inflation=3.0&monte_growth=10&monte_sd=10&monte_inflation=3.00&signlump1=%2B&cashin1=0&cashyr1=2022&signlump2=%2B&cashin2=0&cashyr2=2032&signlump3=%2B&cashin3=0&cashyr3=2037&process=survival&showyear=1960&delay=10&goal=95&portfloor=0&callprocess=Submit&FIRECalcVersion=3.0&) + +&#x200B; + +Started work at eleven with paper routes. Worked all my adult life in the Air National Guard and/or as a civilian software engineer. Squandered some but saved a lot. Hated my civilian job for the last five years. + +&#x200B; + +My project's contract got delayed. The cheap people could hide on other projects. The expensive people (though not the managers, of course) had to take vacation. Over a month vacation gave me the time to calculate what I need, if I can afford it, and if I wont go crazy. Turns out all the calculators said I should be fine. And I didn't go crazy. + +&#x200B; + +So here I am. Signed up for my own health care for the first time in my life. Doing more of all the things I missed... running, walking, exercise, reading, cooking, sleeping, yoga, juggling, and fluting. Waiting for summer to do more hammock lounging, juggling, and unicycle. I may look to a part time job but I doubt I'll get bored. + +&#x200B; + +Take care everyone! + +\----Joe +Your markets are run by bots. Now your daily threads are too. + +&#x200B; + +This thread is for plans and thoughts prior to the market open period. + +Maybe use this time to read the [wiki](https://www.reddit.com/r/asx_bets/wiki/index/) [.](https://styles.redditmedia.com/t5_2hqqj5/styles/communityIcon_41pmnaqp4zn41.png?width=256&s=59bf38425fb316fdcba30365b272a5f19352f370) + +&#x200B; + +Posts relating to the "Is /r/ASX_bets about finance or effect your mental health?" etc will lead to a ban of the mods chosing. [You have been warned](https://www.reddit.com/r/ASX_Bets/comments/l0l9et/the_does_asx_bets_effect_your_finances_emotions/?utm_medium=android_app&utm_source=share). + +&#x200B; + +[We have an active official/unofficial discord. It's open to all discussions, stonks related and non-stonks related](https://discord.gg/wsNDGTf5QH). +Your markets are run by bots. Now your daily threads are too. + +&#x200B; + +This thread is for plans and thoughts prior to the market open period. + +Maybe use this time to read the [wiki](https://www.reddit.com/r/asx_bets/wiki/index/) [.](https://styles.redditmedia.com/t5_2hqqj5/styles/communityIcon_41pmnaqp4zn41.png?width=256&s=59bf38425fb316fdcba30365b272a5f19352f370) + +&#x200B; + +Posts relating to the "Is /r/ASX_bets about finance or effect your mental health?" etc will lead to a ban of the mods chosing. [You have been warned](https://www.reddit.com/r/ASX_Bets/comments/l0l9et/the_does_asx_bets_effect_your_finances_emotions/?utm_medium=android_app&utm_source=share). + +&#x200B; + +[We have an active official/unofficial discord. It's open to all discussions, stonks related and non-stonks related](https://discord.gg/wsNDGTf5QH). +Your markets are run by bots. Now your daily threads are too. + +&#x200B; + +This thread is for plans and thoughts prior to the market open period. + +Maybe use this time to read the [wiki](https://www.reddit.com/r/asx_bets/wiki/index/) [.](https://styles.redditmedia.com/t5_2hqqj5/styles/communityIcon_41pmnaqp4zn41.png?width=256&s=59bf38425fb316fdcba30365b272a5f19352f370) + +&#x200B; + +Posts relating to the "Is /r/ASX_bets about finance or effect your mental health?" etc will lead to a ban of the mods chosing. [You have been warned](https://www.reddit.com/r/ASX_Bets/comments/l0l9et/the_does_asx_bets_effect_your_finances_emotions/?utm_medium=android_app&utm_source=share). + +&#x200B; + +[We have an active official/unofficial discord. It's open to all discussions, stonks related and non-stonks related](https://discord.gg/wsNDGTf5QH). +Your markets are run by bots. Now your Weekend threads are too[.](https://styles.redditmedia.com/t5_2hqqj5/styles/communityIcon_41pmnaqp4zn41.png?width=256&s=59bf38425fb316fdcba30365b272a5f19352f370) + +Read the [wiki](https://www.reddit.com/r/asx_bets/wiki/index/) people. + +[Posts relating to the "Is /r/ASX\_bets about finance or effect your mental health?" etc will lead to a ban of the mods chosing. You have been warned.](https://www.reddit.com/r/ASX_Bets/comments/l0l9et/the_does_asx_bets_effect_your_finances_emotions/?utm_medium=android_app&utm_source=share) + +[We have an active official/unofficial discord. It's open to all discussions, stonks related and non-stonks related.](https://discord.gg/wsNDGTf5QH) +Your markets are run by bots. Now your daily threads are too. + +&#x200B; + +This thread is for plans and thoughts prior to the market open period. + +Maybe use this time to read the [wiki](https://www.reddit.com/r/asx_bets/wiki/index/) [.](https://styles.redditmedia.com/t5_2hqqj5/styles/communityIcon_41pmnaqp4zn41.png?width=256&s=59bf38425fb316fdcba30365b272a5f19352f370) + +&#x200B; + +Posts relating to the "Is /r/ASX_bets about finance or effect your mental health?" etc will lead to a ban of the mods chosing. [You have been warned](https://www.reddit.com/r/ASX_Bets/comments/l0l9et/the_does_asx_bets_effect_your_finances_emotions/?utm_medium=android_app&utm_source=share). + +&#x200B; + +[We have an active official/unofficial discord. It's open to all discussions, stonks related and non-stonks related](https://discord.gg/wsNDGTf5QH). +I'm just finishing a master's. We have only 1,000 in savings since I haven't worked in 2 years and about 9,000 in student loans plus about 21,000 in a vehicle loan. + +The property is a gorgeous 18+ acre lot 30 miles from a major city. The 2 bd 1 bth house that is there was built in the 1920's and would require several repairs before move-in could happen including at least: +-installation of central heat and air (currently window units and furnaces) +- completely redoing electrical (currently has glass breakers) +-completely redoing plumbing. +In addition, we want to start a family soon and the house most likely contains lead paint and asbestos construction materials. + +I kinda worked out a way that this might be possible. But it would require too much in my opinion. + +1) For the down payment on the original property purchase (180k, so 27k required), we would both have to empty out retirement and savings (postponing penalties and taxes until April 2016). (15% required) +2) We would then have to borrow money from her father for the down payment on the renovations. (Also 15% required). We haven't gotten a contractor to estimate the price but I guessed 50k so 7,500. +3) Once renovations are done we would move into a 1400 square foot home (possibly with lead and asbestos) with tons of property and potential... + +I've wrestled and gone back and forth on this for days. I called today and told her we should walk away. She cried (which is cheating) for a solid 10 minutes. + +TL;DR I told my wife we can't make an extremely risky home purchase because it would require everything we've saved and then some for the down payment. Help? + +EDIT: Wow, this really blew up. To answer a few questions. I graduate in 3 weeks. I start my job in June. Our combined 401k savings add up to about 26k. If everything went exactly as planned, our required payments towards liabilities would occupy roughly 30% of our monthly after-tax income. She currently makes >55k/year and my income will be around 55k/year once I get started. +We took out a loan for a vehicle because my vehicle died and we had to have something. + +2nd EDIT: To those with disparaging remarks towards my wife: I married the right woman. She is an amazing, kind, loving, beautiful lady who could probably do a lot better than me but I got lucky. We're currently having a disagreement of opinion right now and I wanted to make sure my take on the financial situation was accurate. And if I'm honest I skewed the available information to include mostly the negative things that I'm focused on right now. Please don't say anything negative about my wife. + +Final EDIT: Thanks to everyone for backing me up. Life, especially married life, has a ton of hard decisions in it. It helps to hear that I made the right call here, even if it hurts. Good news is I did some Excel work and we can save about 28k in 6 months by living with her parents. This particular property may be gone by then but I'm pretty sure we'll find a great home that won't require a spotless lamb. +Does it have to do with the companies it holds? I have been comparing it to other dividend ETFs, and they all have different holdings from each other even though their objectives are similar. +Hi guys. First time posting here, I can't really vent to anyone in my life so I'm here to tell you guys. I read so many posts here about the dangers of over leveraging yourself with credit spreads, so many warnings that if it sounds too good to be true and no one else is doing it, it's too good. I had a put credit spread open on NVDA today that has absolutely decimated my gains from 2021. I was on track making about 10k a month since last November, greed level was HIGH, and today I have learned that yes, as per all of your generous warnings IT CAN GO TITS UP. I know this wasn't informative in anyway but I hope someone sees this someday and learns from my mistake. You think you are ok with losing until you lose, then your whole mindset changes. + +Anyway, I hope all of you are doing well, securing the bag, and otw to financial success/freedom. I'll be there soon enough, time to reevaluate! +Sane vote imo. "A majority of shareholders at the General Electric Co annual general meeting rejected the pay packages for named executive officers, including CEO Larry Culp, whose compensation for 2020 tallied $73.2 million." How much money do these CEOs really need? + +[https://finance.yahoo.com/news/general-electric-shareholders-reject-ceo-151741458.html](https://finance.yahoo.com/news/general-electric-shareholders-reject-ceo-151741458.html) +[https://docs.google.com/document/d/17fj0dywQP2P0y3k20ziPl0\_XOaX7GNoskteHQpxasZE/edit?usp=sharing](https://docs.google.com/document/d/17fj0dywQP2P0y3k20ziPl0_XOaX7GNoskteHQpxasZE/edit?usp=sharing) +Hey there, a friend recommended me to go talk to a therapist about some of my feelings. + +At times I feel that: +- I didn’t deserve my money +- Not sure how to handle family situations +- Not sure if I am overdoing or overthinking (if I buy this present it may make this person feel uncomfortable) +- Life/work balance + +I know privileged people problems.. However most of these problems are related to having a high net worth and I am concerned in putting myself in the wrong hands. + +How did you find a therapist? Did you also run into those problems? +TLDR: I used this method to **DRS X,XXX Traditional and XXX Roth IRA shares to ComputerShare**. I was able to Vote directly from ComputerShare and received my 4-1 share dividend promptly on 7/21 in ComputerShare in these accounts. This method utilizes a Non-Broker custodian and avoids any potential tax hit. That's right, No Tax Hit. There are other methods (LLC and distribution) but I prefer this method for my personal situation. + +**The key takeaway is that I used a custodian to DRS. My shares are not at the custodian now, they are with ComputerShare and Gamestop. They have been withdrawn from the DTC** (see screen shot below). + +GameStop said they appreciate efforts to get ComputerShare to provide IRA accounts, however ComputerShare is not a custodian. + +From the Share Holder meeting June 2, 2022, GameStop addressed one burning question we all have. Why won't ComputerShare offer IRA accounts so we can DRS those shares. The answer was simple "We appreciate the enthusiasm to DRS IRA shares with ComputerShare, but the transfer agent is not a custodian." + +So what I'm hearing is, the effort is appreciated, but we need a custodian to DRS IRA shares. Well here you go! + +**This is not financial advise, just my experience, and I'm zen af rn.** + +**Visual Guide followed by FAQ** + +[IRA AND DTC STOCK WITHDRAWAL](https://preview.redd.it/xjl484ko7pj91.png?width=771&format=png&auto=webp&s=16bd2a110a0d6b8a57e444991c852a667f917354) + +The overall steps are: + +&#x200B; + +1. Choose a non-broker custodian willing to direct register (DRS) your IRA shares, while remaining the financial custodian, and adding you as the registered owner - in the form of: Custodian Trust For Benefit Of "your name" IRA. +2. I chose to work with Mainstar Trust ([https://mainstartrust.com/Contact](https://mainstartrust.com/Contact)) based on post and recommendations I've found. So far they have been extremely knowledgeable, responsive and helpful throughout this learning process. +3. Once you've made your selection, based on your DD, **setup a like-in-kind IRA account** with your non-broker custodian. These will be standard new IRA Account forms. like-in-kind means Traditional account for Traditional IRA and Roth account for Roth IRA. +4. Once the accounts are created, you will **fund them via a standard Transfer request.** The non-broker custodian will supply these and you can fill them out with your broker account information that you are transferring from. You don't need to contact your broker, unless you want to inform them to expect the request from your non-broker custodian. +5. Once the shares are in your non-broker custodian account, **request via email that they direct register them, for benefit of you, with the transfer agent** \- for Gamestop, that is ComputerShare. They should be familiar with this process. +6. Request they also scan and **email you the DRS Advise letter** when they have confirmation. +7. The **DRS Advise letter will contain two pieces of information you need** to create your ComputerShare account for your IRA shares: + 1. **Zip Code on file** (this will be your non-broker custodians zip code on the letter) + 2. **Holder Account Number** (starts with C00 on the letter) + +[Use the Zip Code and Holder Account Number from the DRS Advise Letter](https://preview.redd.it/yvcutwz78pj91.png?width=772&format=png&auto=webp&s=380e7fdddbdeece35aa4fe5893a8181b16309b5f) + +&#x200B; + +8. To initiate the ComputerShare account creation process, go to: [https://www-us.computershare.com/Investor/#Home](https://www-us.computershare.com/Investor/#Home) + +9. Click the **Register Now** link under Login + +https://preview.redd.it/l245h62b8pj91.png?width=600&format=png&auto=webp&s=1473bc45adcc3530282d7df94f3ff0b76814b3e1 + +10. Under Confirm your details, choose **Holder Account Number Option on Second Tab** (Don't choose Social Security Number (SSN) option). + +11. Enter your **Holder Account Number and Zip Code on file from the DRS Advise letter.** + +https://preview.redd.it/crlsdtlc8pj91.png?width=620&format=png&auto=webp&s=d4d8ba1fdd6845534db0566c99e3872b7fde0c93 + +12. Fill in the rest of the details, stock name, email (**use a different email** if you already have an existing ComputerShare account for non IRA shares, I created a new one with IRA at the end), password, and click Register. You will receive a confirmation and a notice that your **Account Verification Code** will me mailed to the address on file. + +13. Contact your non-broker custodian and **ask them to forward you your Account Verification Code from ComputerShare**. Mainstar did this for me in less than a week. + +[Note your Verification Code - and that Mainstar's PO BOX number is 420 - nice](https://preview.redd.it/2uhgt3ze8pj91.png?width=638&format=png&auto=webp&s=82206f9c7686285e3637f814b3cd3a575fbbdc19) + +14. When you receive the Account Verification Code go back to [https://www-us.computershare.com/Investor/#Home](https://www-us.computershare.com/Investor/#Home) \- this time choose **Login** + +https://preview.redd.it/d72ufbjg8pj91.png?width=609&format=png&auto=webp&s=ba251f27d1eaac9eab5f18a32be02f104b4da7e0 + +15. Use the Username and Password you created earlier. + +16. When prompted enter the **5 digit verification code** that was forwarded to you. + +17. Welcome to your IRA ComputerShare Account! Congrats, you made it! Now things to do: + +* Update your email preference in your Profile +* Manage your investment plan +* **VOTE**! - You can vote directly from ComputerShare! + +https://preview.redd.it/3bz7t6qk8pj91.png?width=1166&format=png&auto=webp&s=33dbaea95d8ebd765e4fd82b0218b6f448e94407 + +**IRA DRS FAQ:** + +Q: How long does the overall process take? + +A: 10-20 business days. Things will go much faster if you contact Mainstar in advance and ask them to DRS the shares as soon as they get them, and to scan and email you the DRS Advice letter plus the ComputerShare verification code you will need to activate your account. Follow up with them, they are very helpful. + +Q: How much does it cost? + +A: Mainstar is $110/per account/per year. So if you had a Roth an Traditional loaded with GME it would be a total of $220 per year. Complete info on fees ([https://mainstartrust.com/Portals/0/adam/DocusignForms/VK1rKbuoYEOqpIOY\_EdUkg/File/20220307095230-Fee%20Disclosure.pdf](https://mainstartrust.com/Portals/0/adam/DocusignForms/VK1rKbuoYEOqpIOY_EdUkg/File/20220307095230-Fee%20Disclosure.pdf)) + +Q: Why do I need to use a separate email if I already have a ComputerShare Account? + +A: You do not want IRA shares mixing with non retirement shares. That could be a distribution, I'm also not sure ComputerShare would even let you and that could delay your whole process. + +Q: Can I sell directly from ComputerShare? + +A: No you need to use Mainstars online system (Trust Reporter, you can setup after accounts are created) or call or email. They are still the financial custodian and need process the sale. + +Q: How long does it take to sell? + +A: It takes 3-5 days to transfer back to Mainstar. You could do this tax free in advance when ready to sell. From there you can make immediate market orders or limit orders. + +Q: What happens to my funds after I sell, do they go back into my IRA? + +A: Yes, money goes back into your IRA at Mainstar, maintaining its tax free or tax differed status. + +Q: Can I vote directly from ComputerShare? + +A: Yes you can vote directly in ComputerShare, Mainstar also forwards you any documents they receive. + +Q: Why Mainstar Trust? + +A: u/winebutch posted about their successful experience months ago. I decided to pull the trigger myself. Since then I've heard nothing but good experience from other apes that have followed this guide. Mainstar reps are extremely helpful and familiar with the IRA DRS process, especially for GME! They do not use Apex and when I asked Dr Trimbath on Twitter about IRA DRS she recommended to try a NON BROKER custodian and work with small businesses. + +&#x200B; + +Feel free to ask more questions and I'll research/update the FAQ as I go. The best way to get questions answered is to email/call Mainstar directly. Again, this is not financial advice. In fact, I strongly recommend to interview your own brokers and custodians, consult with your CPA, and consider your situation and what works best for you. My goal is to share my experience and what I have learned based on months of research and push back from brokers. Share knowledge and experience, be kind, be excellent to each other! + +&#x200B; + +Hope you enjoyed, SHOP, DRS, HODL, LFG! +Update 2: someone from Kuvera called and shared an easy trick (i.e. disable 2FA). Once done, the issue resolved itself. Thanks everyone. Like mentioned in the post, I have found Kuvera mostly helpful so far. There may be some issue where gmail rejects their mails. But their intention seems to be good overall. Thanks! + + +Update: I didn't expect so many helpful responses in such a short while. Thanks a ton, InvestmentIndia; I feel relieved now** + +&#x200B; + +Background: I have been investing in Quant Tax Fund since last year and I use Kuvera for the purpose (at least till last year Quant didn’t let us invest directly). I mostly invest through NEFT – I make the transfer from my bank, go back to Kuvera, provide them the transaction number and they proceed with the transaction. **Please note that the last part of the transaction involves Kuvera sending an OTP to my registered email ID. Also note that I have mostly found Kuvera very helpful so far.** + +The issue: I intended to do a lumpsum investment yesterday. I made the NEFT transfer (Citibank later informed me that the transfer was credited to Kuvera at 3:38 PM) and went back to Kuvera with the transaction number. When I tried to proceed, however, I didn’t receive the OTP from Kuvera. **I sent them an email and have not received any reply so far – it has been more than 24 hours**. So my trouble is twofold: + +1. I have lost the money from my bank without the investment going through; as it’s a **transfer** and **not a card transaction**, I cannot dispute the transfer +2. I really want to invest in Quant ELSS, but now I don’t see a good option to do it + +Resolution? I would like to know: + +· Is there anything else I can do to get the issue resolved? I would still prefer the investment going through rather than getting the money back + +· Has anyone else faced this issue without a resolution? Maybe we can pool in together in case we need to go the legal way + +· How else can I invest in that particular ELSS without Kuvera? + +&#x200B; + +*PS: I contacted Kuvera through Facebook messenger and did receive a reply, but the response is far less than helpful to say the least* +Franklin Templeton case: Unitholders vote in favour of winding up of six debt schemes + + https://www.moneycontrol.com/news/business/personal-finance/franklin-templeton-case-unitholders-vote-in-favour-of-winding-up-of-six-debt-schemes-6361631.html +I went to Yahoo to check the futures... Im literally writing this now... + +I see some FUD.... but for another stonk.... + +So... Im like... lets check this FUD out... see whats going on... + +[https:\/\/finance.yahoo.com\/news\/rite-aid-stock-crashes-20-after-wall-street-analyst-says-retailer-could-go-out-of-business-185802344.html](https://preview.redd.it/eajmth6z87s81.png?width=640&format=png&auto=webp&s=0b44312e2feac82ea80fd9ff40be2fb95302ea7f) + +**So... Im like... this is some serious FUD... like who is bashing Rie Aid so much?** + +So I click, and low and behold... its Yahoo's number 1 shill and a Superstonk Favorites "Brian Sozzi"... + +**Let me show you some of Brian's GME posts...** + +**Brian... your'e so f##### buddy...** + +[Yahoo Fud Master Brian Sozzi... ](https://preview.redd.it/jdhlrztya7s81.png?width=546&format=png&auto=webp&s=e8b1241222459a809b9599105aa869f482c53fdd) + +He trashes GME alllllllll the time..... + +https://preview.redd.it/k0ktkdk0a7s81.png?width=801&format=png&auto=webp&s=02c4e1f5bc6a4b892e0b56f472acbb3fc11ab7fb + +https://preview.redd.it/3c8f2ov1a7s81.png?width=791&format=png&auto=webp&s=c79f50e1246dd6027108080a06c5f7906ae66829 + +https://preview.redd.it/w5fy2ed7a7s81.png?width=785&format=png&auto=webp&s=cc999811c77a7d2dfe6a943888a5e516dbd36870 + +**And recently he has bill gross on... they since changed the story - They don't brag about his $10 million gains in GME anymore as a short - because I called them out on it on twitter, because they didn't disclose that GROSS had a position in the March 29th Story.** + +[This was edited from the one below... ](https://preview.redd.it/hb3qomesa7s81.png?width=886&format=png&auto=webp&s=7268c41559be330ab298d1357a96451a50eb6c83) + +More on Bill and Brian Below.... + +&#x200B; + +[So thats all removed now... But I save Copies... ](https://preview.redd.it/hc985pabb7s81.png?width=721&format=png&auto=webp&s=0c77a87167e18e322ecc37fdc276d10cece68b09) + +**Anyway back to Rite AID....** + +**So I click...** + +[Stock traded from $90 to $7 in 5 years... ](https://preview.redd.it/k768t6rkb7s81.png?width=1136&format=png&auto=webp&s=22f95fbeb90cc6a287d47dcf2cd324ae45ed8be8) + +FUD + +[And then more](https://preview.redd.it/abg873uqb7s81.png?width=784&format=png&auto=webp&s=a2615b661f771d3171f85c63b77c564b522d6a1e) + +[More](https://preview.redd.it/xtltbzfzh7s81.png?width=668&format=png&auto=webp&s=844682a11d3de5dc29921da22071411c0a106906) + +So i'm gonna say who ever is shorting GME. is also shorting Rite AID... and using BRIAN again... + +Lets check Citadel... + +[YEH THOSE PRICKS OWN IT](https://preview.redd.it/n6iicv9hc7s81.png?width=1029&format=png&auto=webp&s=687767fb0d0822c9dc3161daab037129e35fc3f1) + +[https://fintel.io/so/us/rad/citadel-advisors-llc](https://fintel.io/so/us/rad/citadel-advisors-llc) + +[https:\/\/stockzoa.com\/ticker\/rad\/](https://preview.redd.it/6oxgxgv9d7s81.png?width=1193&format=png&auto=webp&s=22b13d37e0609e2fa7ad43efe796ad5751de4a71) + +A look at the volume - looks just like GME - + +[https://finance.yahoo.com/quote/RAD/history?p=RAD](https://finance.yahoo.com/quote/RAD/history?p=RAD) You get a big day every now and then just like GME and the others. + +&#x200B; + +[They did 20 Million Shares today](https://preview.redd.it/dhrdn5hqf7s81.png?width=898&format=png&auto=webp&s=6254ffee65ef9f4173e1ad1393e6a2184bb75fc2) + +[13 Million on Dec 21.... ](https://preview.redd.it/17ri9efpf7s81.png?width=906&format=png&auto=webp&s=ee3a2a63b9716fdc063df5d9c147cd62234947f7) + +The Algo sprinkles the shorts in on these big days... (speculation) + +[BCG had eyes on Rite AID back in 2016](https://preview.redd.it/qlvg9jhhd7s81.png?width=990&format=png&auto=webp&s=0c8cf3af06c4db7023265c3d15dc3db55feb3c38) + +**TLDR: I accidentally discovered a new basket stock - Rite AID or RAD. This Links Yahoo and Brian Sozzi to Citadel and Friends... the only definitive piece missing is the BCG connecting but i have 125k DRS's apes who can help me find...** + +This is proof that whoever is feeding Brian the FUD for Rite Aid, is also doing it for GME - remember Yahoo is owned by Apollo... Leon Black... + +Just incase your'e not sure... people say he was Epsteins best friend... + +[Well is Wall St says he's clear I guess he's clean... LMAO... ](https://preview.redd.it/dqiemke2e7s81.png?width=1111&format=png&auto=webp&s=7c21cd871bddde200164fd41428d68bcfe7ff48e) + +[Apollo runs Yahoo... ](https://preview.redd.it/nm5j048di7s81.png?width=622&format=png&auto=webp&s=d7db27d37f92c0d1d02f874d7fa717b28422e698) + +**DEAR SEC, DO YOU WANT ME TO DRAW YOU A LIL PICTURE? WITH SOME WORDS.... ABOUT WHAT I FOUND... THAT MIGHT HELP YOU SMOOTH BRAINS OVER THERE -** + +THE ONLY THING MISSING HERE IS THE LINK TO BCG FROM RITE AID - BUT ITS CLEAR AT THIS POINT THAT SHORTS ARE USING BRIAN SOZZI AS A FUD MASTER... OPEN TO FEEDBACK AND SHILLS... give me your best shot... + +**EDIT -** these guys are long the stock so they can manipulate it - they are also long gme and others - + +RITE AID IS A COMPETITOR TO AMAZON \_ + +Apes, I do these DD's in 20 mins in my underwear on a laptop... if the SEC really cant figure whats going on... we need a new SEC lmao mayo man mayo boy... + +Rite aid is about to die - we need to save Rite Aid !!! Let’s talk to the sec and ppl - send to doj - send it - + + +And get this / they sold 20million rite aid today - who wants to bet gme gets smoked tomorrow before close ? This is where citadel keeps getting the money - how many other shorts are they working ? + +If Ken has to close all the shorts when gme moons- he’s done - it’s game over Ken - rite aid alone would prob ruin you if you were called- +Well if you think that, sell your shares. I hope you do, because then they will have real shares to cover with and they will block the buy button again so you can't join the FIESTA. Hear me out u fcking retard, Just hold, I see people in the comments trying to predict what will happen after GME earning date. Well, This is what gonna happen... THE MOASS. Maybe the day after, maybe the week after, or maybe we will have to hold for another 10 years. If you are here for a short term gain, then you are alone. Don't ever forget, This is not for only gains, we fight together so there is no other GME in the future. + +ApesStrongTogether +https://www.bloomberg.com/news/articles/2020-07-13/ten-thousand-day-traders-an-hour-pour-into-tesla + +> According to Robintrack.net, during a four-hour span today almost 40,000 Robinhood accounts added Tesla stock, which hit $1,794.99 before closing at $1,497.06 — - Almost 40,000 Robinhood users bought the stock in four hours — Tesla shares surged 16% Monday before giving up gains +Back a couple years ago I was a witness to a multi-car auto accident on the freeway where firetrucks, ambulances, and multiple tow trucks had to be called. To preface, no damage was done to my vehicle. No insurance claims were filed against me or on my behalf. Everyone in my vehicle was fine (albeit shaken) and we drove away from the scene after giving a statement. These facts matter. + +A week after the accident I received a bill for $500 for the Fire/EMS crews that showed up. I immediately called the number on the bill and was told that everyone involved in the accident was charged $500 to recoup the cost of sending those crews out (isn't that what my taxes are for?) but not to worry because my insurance will cover it in my claim. I told the guy I didn't file a claim because no damage was done to my vehicle and I only stayed as a witness. I was told that if I was only a witness then I shouldn't be charged a fine and I need to write that in a letter and mail it to them for their records and they'll take care of it. Seems reasonable and simple enough so that's what I did. + +A few months go by and I receive the same $500 bill saying it's going to collections if I don't pay immediately. I call the number again and tell them the same story. They also tell me the same story - I need to write a letter and send it in to them. I told them I already did that and they said maybe I didn't write things out clear enough and to write another letter and send it in. + +This was 2 years ago and I thought everything was good to go because I never heard anything again. Apparently that's not the case because it proceeded to go to collections during this time and within the last 12 months I had this $500 bill show up on one of my credit reports dinging me 50 points. I've disputed this collection through the credit reporting agency but it's still on my report. What do I need to do to make this go away? It's extremely frustrating. + +**Edit:** Some things I forgot to mention: + +* the guy I talked to on the phone the second time told me not to worry about it going to collections because their collections department was the guy 2 cubicles over from him. It never goes to a third party collector. If I write to the collections department, I'd be writing to the same office I've already written to. + +* Going to the news seems like a good idea as an anonymous person, but the practicality of putting my identity and face on TV to complain about my city government is a thought that terrifies me and is not something I'm interested in. + +* I also no longer have the bill or the contact information from the agency that sent it to me. How can I find this? + +**Edit 2:** RIP my inbox. I promise I will read all the responses and try to respond to them. It’s definitely going to take me a few hours and it’s getting late so please bare with me. +You want to explain your strategy to a friend or colleague who has a good understanding of financials and/or algorithmic design including the indicators and/or mathematics you rely on. How long will it take for you or how many core indicators do you use? + +The reason why I‘m asking is that I feel my strategy and dependencies has became really complex and I‘m constantly changing things. It feels like a never ending story and its on the edge of that I could almost not say anymore if certain indicators conflict eachother. It feels similar of doing a painting and you question yourself if the next step will ruin or enhance it. + +For me to explain it to someone would approx take 4 hours to scribble it on paper. +The recent tech stock selloff threw a lot of people off guard. Just 3 months ago in November 2021, every growth investor looked like a genius. Then, suddenly many growth stocks went down more than 50%. This post( [https://www.reddit.com/r/wallstreetbets/comments/swwvyt/when\_the\_stocksmarket\_will\_crash/](https://www.reddit.com/r/wallstreetbets/comments/swwvyt/when_the_stocksmarket_will_crash/) ) is a good summary on the damage done to the individual high growth stocks. My portfolio also suffered quite a bit. The index portfolio went down 5% and my concentrated portfolio is down 20% from the peak. It’s unclear how much my startup investment portfolio dropped as it is illiquid. But relatively speaking, I believe my loss is pretty average among tech investors. My diamond-hand friends used to make fun of me for being too conservative i.e. no margin debt, paid off mortgages and an absurd amount of 60/40 balanced (\~$30m) portfolio. I had to tell them that I don’t want to take too much risk for the profits I don’t need. I made my life changing money and I intend to keep it that way no matter what happens. + +Overall, this selloff doesn’t really matter to me. My family’s expenses are fully covered by dividends from my index portfolio with quite a bit of margin of safety. I did see a few tech stocks become quite cheap and I wondered if it’s time to buy the dip. The stock picker in me wanted to go for it but after some careful thought, I decided I don’t have to be involved. My time and attention should be focused on what matters to me, i.e. startup investments, programming projects, family. Also, what do I really know about the stock market? This market can go down another 20-40% or it can rebound 20-40%. My knowledge in the tech sector doesn’t really translate to public equity. I will just be gambling if I try to time the market. I am not gonna lie. There’s a very strong urge for me to want to buy the dip because I want to be right and be the diamond hand. But there are times that I need to protect my money and my time from my ego. This is the definite moment to sit on my hands being an observer instead of a participant. + +I do see people get into trouble now by getting deeper and deeper into margin debt because they are so used to winning in the stock/crypto market in the past decade. But for people who have experienced the dotcom bubble, we all know the market can be brutal. For the same reason some stocks can fly to unthinkable highs, they can crash down to unthinkable lows. Your fundamental analysis or technical analysis or ability to predict the future doesn’t matter if the companies you invested in go bankrupt or lose most customers in a recession during a liquidity crisis. There’s so much uncertainty tomorrow. It’s okay to take some risks. But it’s never a good idea to sacrifice your financial security to get the dopamine highs of being right. + +This down market is a great time for me to reflect on what FatFire really means. To me, FatFire is not about being able to afford a luxurious lifestyle without working but about being able to focus on living a peaceful life without worrying about money. I spend way too much time thinking about money while I should really direct all this energy to more creative pursuits, time with friends and family and giving back to my community. The market volatility may impact my ability to make startup investments (if my concentrated portfolio goes down another 50+%), which is my supposed day job. But since my original motivation for making these investments is to put the excess capital into good use, this downtown could actually solve the excessive capital problem for me. If I can free up the time spent making these investments, it could open up other possibilities. I could travel more, program more, write more, think more, exercise more, catch up with friends more, etc. I don’t know what’s going to happen tomorrow but I am confident I will still have a lot of control of how I spend my time and we will have enough money to live on. If the stock market crashes further, I might no longer be a hectomillionaire but it’s just paper loss. It will not affect how I live my life. + +I know there are people out there who still have most of their net worth tied up in individual stocks or crypto. Barring special circumstances, my suggestion for these people is to take some chips off the table. If what’s tied up there is a life changing amount of money, diversify it into a balanced portfolio. Don’t sacrifice your financial independence for money you don’t need. Freedom is priceless. +Been looking for my first investment property for about 3 weeks. Came across a condo in a VERY good location for a reasonable price so I ask my agent for the details. Its an old tourist lodge that was broken up into 17 condos has a community pool, hot tub, rec room, etc. HOA dues are 380 a month but cover everything incluing wifi. + +I get the details from my agent, read through them and forward them to my lawyer for a glance. I read through them again and notice page two is missing. So I ask my agent to get a new copy with all the pages. Seller gives her the run around, tells her to call the HOA president, she does. Meanwhile I get the clear from my attorney that as long as page two is not something "bat shit crazy" Im all good. + +After this my agent calls and is like you need to call up there to get more information (wtf am I paying you for?) Anyway, I call the president and holy cow. + +1. The monthly dues are 380 but at the end of the year, they true up the books which will affectively double the dues. + +2. They are the only ones that can market and rent the property. + +3. They only pay earned rental income once a year. + +4. The top earning rental only earned 18k last year. + +I advised that I had read the by-laws and covenants and none of that was in there ... he verbal shrugged before going on a rant about how everyone looking at the property was looking it as an investment property etc etc. + +I then read him his own listing; which word for word calls it an investment property in a great location with year around potential income. Another verbal shrug. + +I then got off the phone with him and was talking with a co-worker. We got stuck on the 18k earnings and as I am an accountant, I started running the numbers. + +Market rate on AirBNB is 100 slow/200 peak. Call it 150. + +150x20 day(10 vacate a month)×12=36k per year + +Minus out dues (monthly plus the true up) -10,000 +26k left; the HOA dues cover everything including cleaning and maintenance. + +If the top earner was 18k; where did the remaining 8k go.... + +Needless to say I will not be looking at this property and honestly I think the whole operation needs to be looked into. They want to run a hotel without the liability of running a hotel. +The 2/19 35p is currently going for just under 4.5 which translates to roughly 9.5% on $3500 risked and a whopping 190% annualized return. + +I'm overall bullish on CRSR and would be happy to hold them long term, so it seems like a no brainier to me. + +I went ahead and sold 2 and will probably add another one once I close out a separate short put. + +--- + + +Also GME 🚀💎👐 and stuff +Welcome to the Daily General Discussion thread of /r/EthTrader. + +*** + +Thread guidelines: + +- Please refrain from discussing non-Ethereum related tokens here. You are welcome to discuss altcoins in the Daily Altcoin Discussion thread. +- All [sub rules](https://www.reddit.com/r/ethtrader/about/rules/) apply here so please be familiar with them. + +*** + + Resources and other information: + +* Newcomers who have basic questions about Ethereum can find answers by visiting /r/EthereumNoobies or our Ethereum Education wiki page, [see here](https://www.reddit.com/r/ethtrader/wiki/education). + +* To view live streaming comments for this thread, [click here](https://reddit-stream.com/comments/auto). Account permissions are required to post comments through Reddit-Stream.com. + +*** + +Enjoy! + +&#x200B; + +[u\/luridess on her way to 🦍, 🦍 & 🍌 LLP](https://preview.redd.it/23el5ec33zv61.jpg?width=889&format=pjpg&auto=webp&s=3fdbef9fc373dc102c478fe63db6fb3040715d02) + +*EDITS:* + +1. *in my haste to get this message out to all you apes, my title* *~~incorrectly says 2020 Annual Report... it should say 2021 Annual Report~~* *is CORRECTLY referring to the 2020 Annual Report that will be filed in 2021, not the 2019 Annual Report that was filed in 2020, in response to some questions/comments by apes in this and other posts. Thank you* u/hdeck *for catching that. This is what happens when I take a quick break from work to update the community... 😅* +2. u/HolyPhoenician & u/TheKingOfLimbs made excellent points in the comments. We are [LEVELING UP TOGETHER!](https://www.youtube.com/watch?v=Dh-ULbQmmF8&t=14s) This is the way! 🦍 support 🦍 + +&#x200B; + +**EDIT 3: ALTERNATIVE LINKS** + +* Yes I am aware that some of you have many wrinkles and are familiar with alternative links on proxy websites. +* If you want to go ahead and use them, that's fine. **You do you.** +* There have been many informative posts submitted by users recently regarding cyber-security. +* We are learning how to protect ourselves in the digital era. +* But given the influx of shills/fuds/phishing scams in the past few weeks, especially when it comes to proxy voting, the purpose if this post is to provide **SOLID, CLEAR AND EASY TO FOLLOW INSTRUCTIONS** for apes who are not familiar with these matters. +* The links that I have posted are solid, verifiable information. +* **ANY INFORMATION THAT IS AVAILABLE ON ANY OTHER WEBSITE, WILL ALSO BE AVAILABE ON THE TWO LINKS THAT I POSTED.** + +\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ + +Apes, + +We are seeing an influx of posts linking to an UNVERIFIED version of Gamestop's 2020 Annual Financial Report. I know that you are all excited and want to dig in! Believe me, as someone who deals with SEC filings for a living, I'm also excited! + +BUT, before anyone starts digging into this and posting their thoughts/interpretations/DD, let's wait until Gamestop uploads the Annual Financial Report to their website and submits it in their SEC filings. The link above could be the official 2020 Annual Report, but we don't know that yet. + +**And it doesn't matter if that is the correct version or not.** + +Why? + +If there's only one important lesson that we all need to learn, if there is **ONLY ONE WRINKLE YOUR APE BRAIN CAN FORM**, it's this: **ONLY REFER TO GAMESTOP'S WEBSITE OR THE SEC WEBSITE FOR FILINGS**. Do not, ever, for any reason, whatsoever, at any point in time, ever, ever, ever, refer to any website or link OTHER THAN what you can find directly available on Gamestop's website OR the SEC website. + +FYI - All voting information is available directly in [Gamestop's DEF 14A filing](https://investor.gamestop.com/node/18846/html). u/Leaglese and I are working on a comprehensive Voting DD for all you apes around the world, we'll be posting something shortly. + +If we wait for the version uploaded to Gamestop's website or to the SEC website, we can all make sure we are working from the correct, official version of the document. + +This is not to say that Apes are posting misinformation/FUD. Far from it. This is just to clarify which links we should be using, because these are the same links that professionals use. + +**We should all get used to referring to official Gamestop Legal Documents that are available only on the following two websites:** + +1. [https://investor.gamestop.com/financial-information/annual-reports](https://investor.gamestop.com/financial-information/annual-reports) +2. [https://www.sec.gov/edgar/browse/?CIK=0001326380](https://www.sec.gov/edgar/browse/?CIK=0001326380) + +Thank you all. + +🦍 support 🦍 + +💎🙌🌕🚀 +While I have added comments in Computershare posts about previous trades on their platform, I made two sell orders this morning for another stock I own in Computershare. + +The first was a market order entered at 10:13 a.m. EDT. When I checked at 10:15, the order had executed. (Edit: Received a text of execution at 10:14, so I'm confident the trade took seconds) The second was a limit order, set for 104.72, 17 cents above the market price at the time, which had declined from earlier. This order was put in around 10:30, and when I saw that the price had risen at about 11:20, I checked and saw that it, too, had executed. + +Now, I'm not saying this is how it will work during Moass. No one knows how any platform or investor will perform in that scenario, because it's never happened. But I wanted to set the record straight, at least about how Computershare works during normal market conditions on actual sell orders (versus speculation). + +This is not financial advice. + +Edit: Screenshot added! + +Edit2: Thanks for all the awards, fellow apes, and FU to the turd who sent the suicide notice. + +Edit3: We really need to influence CS to increase their sell limits, and to tell us more about who they use for trading. + +https://preview.redd.it/677l96ky4pn71.jpg?width=1280&format=pjpg&auto=webp&s=4393628d1516fc6d443a8d6e65fab63cdf7a856e +I know, market timing, blah, blah, blah - but buy low, sell high only really works if you actually sell. As for what you could have made, well, you'll never know until it's far too late. + +My question is what now? Real Estate has done more for our bottom line than any other venture, and, honestly, at this point, we're pretty good at spotting trends and diamonds in the rough, but I'm sick of dealing with residential tenants. I really don't want to deal with the constant bullshit at this point. Honestly, I just don't like people anymore. + +Buy an Apartment Complex and hire a management company? Buy Commercial? I have a feeling that business owners might be less of a pain in the ass - or a pain in the ass that I haven't grown tired of? Honestly, I don't know. + +I'd like your input. +Long story short, I come from a low-income background. Not a single family member or friend of mine invests... other than mandatory pension funds, and maybe some younger people doing crypto haphazardly. I never imagined I would have money to actually invest. Just having a savings account counts as an advanced financial strategy where I'm from. + +This being the case I've always dismissed stocks and other forms of investment as "something for wealthy people." To me it all feels very foreign, difficult and risky. Honestly, the only form of "investing" I can get my head around is buying property, but that doesn't really suit me at the moment. + +I feel that sources of information aimed at people like me are often A.) blind leading the blind ***or*** B.) toxic/predatory - i.e. using 'too good to be true' slogans to pull me in to buy their book, seminar, program or keep watching their content online. + +Today I have about 30k EUR to invest long-term (10+ years) and 10k EUR I would like to invest short-term (more flexible, 2-5 years). + +I have no idea how to go about it, and it has me gathering savings in the bank for many years now, gaining next to nothing. I know 40k isn't much to some, but I had to work very hard for it, and it took years to save. I'm afraid of losing it by not understanding the investment world. + +Questions: +1.) What books / online courses / podcasts / YT video channels / etc. are the real deal? The kind of stuff that can teach me about this world, rather than selling me dreams and expensive seminars. + +2.) I may move to a different EU country in the next 2-3 years. Should I wait with investing until I move? Currently I'm living in Poland. + +3.) What is a safe and mostly worry-free way to invest 30k EUR long-term; beginner friendly? + +4.) What can I do with the short-term 10k EUR that I would like to invest? Something more profitable but still *relatively* safe. I can tolerate some risk, but I am not looking for stuff like crypto. + +**Thank you so much for taking the time to help.** +Hi, + +I've invested a significant amount of my portfolio in $NTE (Network Media Group) last week. I believe this company is significantly undervalued. Since I invested last week, the price is pretty much stable (even dropped a little with last week's red wave). Is there anybody here with some knowledge in the business that could tell me if I'm missing something?? + +Here's some of the info I've gathered to start: + +\- Network Media group makes documentaries/movies. Revenues can vary depending on new film releases, however they own the copyrights to their movies so they keep having recurring profit over time on the long run since their collection keeps on growing. Although they're a small production company, they managed to secure many LEO awards and nominations in the past for their movies, including awards recently in 2020 (5 LEO Awards for ''Punk'' and ''The age of A.I.'', 12 nominations for ''Punk'', ''the age of A.I.'', ''I am Patrick Swayze'', ''I am Richard Pryor''). They also seem pretty active on new productions, they've reported 13mil backlog in Q3 2020 and they have 4 documentaries and 2 television series in production/pre-production. + +\- Basics: They are a microcap (12mil market cap). Price right now varies from 0,15$ to 0,18$. Total shares outstanding=74mil. + +\- Revenues: They grew their earnings massively in end 2019/2020 even with COVID. At last earnings quarter, they've reported revenues of $1,014,522 (compared to $787,694 in 2019) and net Income of $106,322 (compared to net loss of $324,353 in 2019). For the 9months 2020: Revenues of $7,958,655 ($6,411,133 in 2019); net Income of $1,069,585 (2019: $1,543,971). They basically do almost as much in revenues annually as their market cap!! + +\- Insiders have only been buying shares in 2020 and jan 2021 between 0,14 and 0,19$/share. + +\- Debt: Their 1,8mil debt is manageable. With D/E ratio at 21%, it's pretty low and debt/equity has been reduced systematically in the last 5 years. + +\- Value ratios: With a P/E around 8,5 for a growing production company, this is insane (entertainment industry average P/E around 33x). Their P/B at 1,3 is also reasonable. + +Does anyone have some insight on that one?!? Am I missing something there?!? If someone has some insight on why the price stays so low, please enlighten me. + +TLDR; Long $NTE. Solid production company with good contacts, recurring revenues and new film projects brewing, low debt, steady earnings that have been significantly growing since 2019. No news coming up in the next few months so probably a mid/long term play but really undervalued considering it's growth in the last years without a consequent share price rally. Please tell me what you guys think/critics are welcome. +So to start, you need to know what "shorting" a stock is. When someone thinks a stock is going to go down or a company will go bankrupt, they can borrow shares from their broker to open a "short" position. They then sell the shares immediately at the current market price. They have a specified amount of time to return the borrowed shares to the brokerage. + +If the stock does go down, the investor buys that number of shares at the now lower current market price, and then returns them to the broker. He/she keeps the difference. + +If the stock goes up, they have to "cover" their position. They can "buy-to-close" whenever they want, but many of them will wait for a very long time because they are large firms who have a lot of money and leeway with their brokerage. However, if a stock keeps going up and up, the brokerages can call the investor and demand the shares back to hedge *their* losses. This forced buying drives the price up even more, which then causes other brokerages to make the same phone call to their clients, and so on and so forth. This is called a "short squeeze". + +\--- + +GameStop is a declining brick-and-mortar video game retailer. Their management has not adapted to the digital world where many video games are downloaded instead of on discs. They have been making some moves in the right direction, such as closing underperforming stores and paying down some debt, but they need to reinvent themselves to succeed. Many large investors/firms have seen this coming and took out short positions a few years ago. The stock kept going down so the brokerages and banks hadn't called yet. GME is the most-heavily shorted stock on the market. More shares are shorted than are in circulation. It's called "naked short selling", it's complicated, and some of it is probably illegal but the SEC looks away. + +[Ryan Cohen](https://www.entrepreneur.com/article/349890) founded Chewy.com when he was 25 and sold it six or so years later for $3.5 billion. Last August, he purchased 9% of GME's shares. When it was disclosed in the SEC filings, the stock went up 22% in a day (which is a LOT in normal circumstances). The thought being that he was going to attempt to take over the company. There was a lot of speculation online. In late November he wrote a [strongly-worded letter](https://www.sec.gov/Archives/edgar/data/1326380/000101359420000821/rc13da3-111620.pdf) to the Board of Directors. + +Shortly before Christmas, he disclosed that he had bought more shares and now owns 12.9% of the company. He bought the new shares at $16ish, after buying the first batch around $4. When someone owns 10% or more of a company, there are heavy limitations on how much they can sell at one time, in a given period, and they have to disclose everything. + +This signaled that he wasn't in it for a quick buck and he probably really was going to try to take over and modernize the entire company. Gamestop has something like 55 million members in their club/newsletter thing, and that data can be used to make a lot of money through targeted advertising and such. There have also been confirmed rumors that the company will be making a serious run at the fast-growing PC gaming market (many serious gamers build their own computers). Video game competitions are also very popular and can be capitalized on. The stock continued to slowly climb, with some sell-offs and such along the way. It was not for the faint of heart. + +Fast-forward to January 10th, when it was announced that Cohen and two of his board members from Chewy were officially appointed to the GameStop Board. It was really looking like the theories from last fall were correct. The news sent the stock soaring and the investors who had short positions were in big trouble. Some of them started covering their debt, but many didn't and still haven't. The ones that did have incurred losses in the collective billions, and there are many more billions still out there that will be lost by short investors. + +For the past two weeks, the pro-GameStop investors have shown great interest in the potential turnaround story of a store that plays a big role in their childhood memories. With the presence of Cohen and his buddies from Chewy, an e-commerce giant, small investors can see that GameStop is now undervalued to those who believe in the new Board members. + +The stock has been incredibly volatile as the large investment firms try to drive the price down. One way they can do this by opening massive new short positions (AKA selling large chunks of shares all at once) as other shorts return their borrowed shares to the pool. This can be seen many times along the daily charts of GME, in nearly vertical declines. Knowing the potential of both Cohen and the short squeeze, small investors have been buying up all the dips. If the shares are being held, and not sold, they are unavailable to be returned to brokerages. This drives the price up even MORE as the short investors scramble to buy whatever shares are available to fill their debt before the price continues to rise. Eventually someone is left holding the shares purchased at the highest possible price, but in this once-in-a-lifetime case, it probably won't be someone with a net worth under $100 million. + +&#x200B; + +Position: Go fuck yourself, shorts +I feel as though I'm becoming a bit too obsessed with money and savings... or am I. + +I'm told that for my age I'm doing very well in terms of savings, compared to others my age at least. The thing is, doing better than others doesn't necessarily mean one is doing well. It may just mean the others are doing really poor. The average person my age apparently has no savings. + +As far as I can tell, many people are going to be screwed when old age and health problems hit them. No savings. No retirement. Even for myself, I wonder if I'll ever have enough. What if I end up living to 120? + +I'm worried I end up really old and in poor health, stuck in some terrible care home because I ran out of cash. I might never meet the right girl and have kids. Or if I do have kids maybe they'll be too focused on making sure they have enough for retirement to think about me. + +I honestly hate it. I hate that we live in a modern, wealthy society, and yet still have to save up our entire lives in the hope we don't end up in a really rubbish situation when we're old. And even then there's no guarantee we'll have enough. + +I'm probably overreacting because of my anxiety. I just feel really stressed about this. I'm too anxious about the future that I'm struggling to enjoy the present. + +Edit: Wow, thanks for all the replies people. Will try get around to responding when I'm back on Reddit. For now, I think I need to take some time off and try to relax. A lot of you have mentioned therapy, and can confirm I'm already seeing a counsellor through my local university - which is helping me deal with some issues. I do seem to be stuck in the past and future, but rarely the present. Thanks again all. +I see a lot of people getting down on where they are at in their FIRE journey when seeing people of the same age or younger FIRE’d or further along than they are. We talk a lot about not buying a fancy car or buying more of a house than is needed just to keep up with the Joneses. But that mentality also applies to the FIRE journey itself. + +As long as you’re following all the steps that are available to you and are comfortable with how much you’re saving, then that’s all that matters. Not that someone half your age is already FIREd. The fact that you’re even considering this path means you’re far ahead of most other people. +These are real monthly numbers from my own life in a medium size city just south of Buenos Aires: + +\- Rent (Premium apartment, 2 bedrooms, 2 baths, city center): $270 + +\- Top private school for one kid: $277 + +\- Groceries (no budget, we just buy whatever we feel like) : $230 aprox + +\- Cleaning person: $40 aprox + +\- Utilities: $92 + +\- Internet: $19 + +\- Car insurance: $20 aprox + +\- Premium health insurance: $100 aprox + +\- Total: $1048 + +These numbers were calculated at the black market exchange rate, which is what you actually get for your dollars if you come here. At the time of writing this it was valued at 216 pesos for 1 dollar. + +You get to live an upper-middle class life here for a little over a thousand dollars a month. Just something to think about if moving here is a realistic possibility for you. +Say $25 for every class completed with a B and $50 for every class with an A. Schools would submit official transcripts to the Department of Education at the end of each semester which would then mail cheques to the students. Only public school students would be eligible for the rewards so that private school students from wealthy families would not disproportionately benefit as much. + +Ignore issues of logistics or how the program would be funded, I'm just curious about the effects. + +What would happen to the education landscape in the US under a program like this? Would more people go to college? Would students from underprivileged backgrounds benefit? +# tl;dr I think UBI is way too expensive to ever be seriously considered, change my mind. + +Hi all, first time posting on this subreddit. + + +I'm in the process of finishing up a masters degree in international economics, finance and development, and my last task is to write my dissertation. I decided to make it on universal basic income, which was a topic that fascinated me even before I started my masters (my undergraduate degree was in business, with micro and macroecon here and there.) Back then, however, I didn't know that much about economics and didn't stop to think about the implications of such a program. + + + + +I'm currently reading Van Parijs' book "What's Wrong with a Free Lunch?" (the biggest piece of literature on UBI as far as I know), and the more I read the less the idea becomes compelling. I also read/skimmed a few other academic papers, articles and books, so I know a fair bit about the topic already. + + +Outcome-wise, yes. It sounds great, people get more freedom when choosing an occupation, the fight against poverty gains ground, and according to Rutger Bregman, we can achieve a utopia for realists (along with a couple of other measures alongside UBI). I think it's a great way of lifting poor countries from poverty, and improve the lives of inhabitants of richer countries. + + +My question is this: feasibility. The program will be astronomically expensive. If I just use Finland as the example, often cited as the epitome of a welfare-heavy, social liberal economy policy (and Robert Solow used the example of the US in his foreword of *What's Wrong with a Free Lunch?* but that was back in 2001): + + +*Data was taken from 2017 or 2016, depending on availability.* + + +The Finnish population consists of 5.51 million people, of whom 4.62 million are of working or retirement age (15 and higher). + + +A common indicator for the poverty line used in the EU, and what Solow has used, is taking half of the net median income of a country. I couldn't find the median monthly income per person, but the gross average is around €3,500 per month before taxes, and with an average tax rate of 50&#37;, we can take €1,750 of net income per month. Half of that is €875 per month, meaning that to be above the poverty line, a Finnish person must earn at least €875 after tax. That's €10,500 per year. + + +If the Finnish government decided to go ahead with sustainable-level UBI, it would need to pay €10,500 per person of working age per year, or €10,500 x 4,620,000 = €48,510,000,000 or €48.5bn per year. + + +Government expenditure ratio to GDP is 56&#37;, and Finland's GDP in 2016 was €216bn, meaning government expenditures were of €121bn. + + +This means that the Finnish government would have to increase its expenditures by ***41\%*** every year just to satisfy the UBI expense. That is massive, especially considering the fact that Finland is 18th in terms of population count in the EU but 12th in GDP. + + +A few caveats: + + +* I've taken a very high UBI rate (which is referred to as sustenance-level UBI), but even half of it still poses a big issue, 20&#37; of a country's expenditures is still massive. +* Some proponents of UBI argue that it would replace welfare, so some of the expenses from welfare would go to cover it. Seeing that in 2016, Finland spent €734.5mil in welfare, and assuming that we'd completely remove all welfare to replace it with UBI, it still seems unreasonable as it would only cover 1.5 &#37;of the amount. +* There are many arguments (which I think are valid, in theory) that UBI will raise productivity through higher job satisfaction and more efficient labor allocation, which in turn will cover the cost of UBI. Still, we don't know by how much, and I doubt that any econometrics model we can come up with will be able to accurately estimate by how much. + + +Please change my mind, I really think that in theory UBI is a promising idea. Also, I don't want to look for a new dissertation topic. + + +Sources: + +[https://findikaattori.fi/en/14](https://findikaattori.fi/en/14) (population) + +[https://en.wikipedia.org/wiki/Taxation\_in\_Finland](https://en.wikipedia.org/wiki/Taxation_in_Finland) (tax rate) + +[https://findikaattori.fi/en/13](https://findikaattori.fi/en/13) (income) + +[https://www.focus-economics.com/country-indicator/finland/gdp-eur-bn](https://www.focus-economics.com/country-indicator/finland/gdp-eur-bn) (Finnish GDP) + +[https://findikaattori.fi/en/19](https://findikaattori.fi/en/19) (government expenditure ratio to GDP) + +[https://findikaattori.fi/en/67](https://findikaattori.fi/en/67) (welfare in Finland) +Being a complete novice in economics, I find it hard to digest texts, and Reddit posts, because there always seem to be two (or more) camps, with different models of the world. + +The FAQ suggests [free trade](https://www.reddit.com/r/Economics/wiki/faq_trade) is one concept that has strong consensus in the academic community. + +* What other models or concepts are there that all (to some *epsilon*) economists agree on? +* Are there any areas where there is generally more consensus? +* Areas where nothing seems settled at all? +https://www.cnbc.com/2018/12/10/china-court-grants-qualcomm-injunction-against-apple.html + +UPDATE: Apple files appeal to overturn iPhone sales ban in China + +https://www.cnbc.com/2018/12/10/apple-files-appeal-to-overturn-iphone-sales-ban-in-china.htm +I've mentioned previously that I don't like to look too far ahead, so this deals with 2022 only. +I talked about how I expected prices to rise into the Chinese New Year in [other posts](https://www.reddit.com/r/ASX_Bets/comments/oz28m2/comment/h7zyjnu/?utm_source=share&utm_medium=web2x&context=3), which I'm now thinking could draw out longer. During the last run, the lithium carbonate spot price stayed at US$19k/t or higher for 2.5 years. + +It's easiest to do this as a rebuttal to the most pessimistic lithium analyst: Morgan Stanley. +Here's their report: + +https://preview.redd.it/8gsmvk96fxv71.jpg?width=1073&format=pjpg&auto=webp&s=b6f4fc9d868a975b35bae654f7ec6cb13dbdb3d4 + +MS don't include annual overall battery grade lithium carbonate equivalent (LCE) demand totals.They are: + +* **2020:** \~300,000 tonnes +* **2021:** \~460,000 tonnes (MS's 53% increase estimate) +* **2022:** \~566,000 tonnes (MS's 23% increase estimate) + +In 2021, the market has moved into a suspected 10-20k tonne undersupply. +Using the lower end of that range to be conservative, and adding it to the 2022 MS forecast of 106,000 additional tonnes of demand, I get: +10,000 + 106,000 tonnes = 116,000 of unmet LCE demand in 2022. + +MS identifies the following sources of notable supply: + +* Kwinana (Tianqi & IGO @ Greenbushes) +* Ngungaju (PLS plant 2) +* Wodgina (MIN & Albemarle) +* Atacama (SQM) + +They seem to be lumping the Greenbushes tailings retreatment plant (TRP) into the Kwinana category, so I'm going to increase their 22ktpa supply forecast to 34ktpa (assume 10% failure rate). This accounts for the TRP being introduced to the market as either spodumene or lithium hydroxide. + +There are 2 glaring omissions for Albemarle: Silver Peak & La Negra. Last year, Albemarle stated they were bringing on 40ktpa of LCE in 2022. That was revised downwards in their most recent [earnings call](https://www.fool.com/earnings/call-transcripts/2021/08/05/albemarle-alb-q2-2021-earnings-call-transcript/): + +>**Joel Jackson (BMO Capital Markets analyst)** +I think you talked about maybe gaining about 30,000 tonnes LCE volume for next year with the different expansion ramping on. Kemerton 2 has delayed a few months maybe you've been pushing it a little more tolling now this year. Is it about 30,000 tonnes still the right number for next year? +> +>**Eric Norris (Albemarle President)** +So, Joel, I mean, I think it's -- you have to break it down. First of all, I don't think we've said 30,000 tonnes. We've talked about ramp rates on plants. So the Kemerton plant with a start-up in the early part of next year, there is a three-month delay to the second unit.We've talked about getting to full run-rate capacity by the end of the second year in that facility. Similarly, in carbonate, you'd see a phenomenon that is somewhat like that. I would say our run rate for carbonate by the end of '22 will probably be at the 30,000 run-rate basis at the end of the year, that ramps. It's a little bit different, ramping brine versus spodumene because Brian is obviously a harvested material versus a fixed input.But that roughly should -- between those two should be able to calculate sort of our guidance. The change would be a slight delay at Kemerton. And then a year-on-year growth that we can achieve in tolling. And that's going to be it's harder for us to predict now because it's a function of what's available in the market for us to toll with. +> +>**Kent Masters (Albemarle Chief Executive Officer)** +Yes. It's also a function of how fast we ramp up, right, so how well commissioning goes. And then there's -- when you'll commission, you'll be able to make products, but at lower rates, and that will ramp up over time, and it's how well we do in that ramp curve. And it's hard to speculate on that. + +Tolling refers to the practice of supplying product to rivals (balancing under/overproduction between them). It's murky, but the gist seems to be "expect up to 30ktpa of LCE some time in 2022". + +With regard to the recently announced [Wodgina restart](https://clients3.weblink.com.au/pdf/MIN/02440344.pdf), I've spoken previously about [qualification periods](https://www.reddit.com/r/ASX_Bets/comments/qd3h5c/comment/hhkmtre/?utm_source=share&utm_medium=web2x&context=3). That *should* prevent Wodgina product from impacting the market in 2022. However, that qualification period won't be necessary if they sell spodumene on the market. The MIN/ALB joint venture hasn't clarified anything yet, and their strategy will probably define the lithium supply/demand balance for 2022. + +As LCE facilities don't run at full capacity, a 10% penalty will be applied to all of these sources of new supply for 2022: + +* 17,000tpa by H1 2022 (PLS Ngungaju) +* 34,000tpa by H1 2022 (Greenbushes TRP (IGO/Tianqi/ALB) +* 27,000tpa by H2 2022 (La Negra & Silver Peak Albemarle projects) +* 40,000tpa by H2 2022 (SQM) +* 30,000tpa by Q3 2022 (Wodgina) **\[unlikely sale of spodumene product\]** +* 00,000tpa by Q4 2022 (CXO commissioning) +* 00,000tpa by Q4 2022 (AGY commissioning/qualification) +* 00,000tpa by Q4 2022 (Lithium Americas commissioning/qualification) +* 00,000tpa by Q4 2022 (PLS construction of 100ktpa expansion) + +So 17 + 34 + 27 + 40 = 118,000 tonnes of optimistically predicted supply coming online to satisfy a conservative 116,000 gap. + +Morgan Stanley originally predicted H2 2022 Chinese spot prices at US$8k/t. They've now moved to US$13k/t in this latest assessment. Their thesis rests solely on the Wodgina decision, IMO. Regardless, Kemerton can't come online properly before Q3 2022. Throughout the year, demand will come in chunks, but when is uncertain. +Though I originally somewhat agreed with MS's argument of prices calming from Q2 2022, I think it's doubtful now. I don't see any huge downward pressure between March and June '22, unless a big player has been stockpiling behind the scenes, which is unlikely. + +Morgan Stanley's forecast of US$19,500/t for the current quarter has been swept aside. Prices are broadly hovering at about US$30k/t: + +[Chinese lithium carbonate spot prices over 2+ weeks \(RMB\/t\)](https://preview.redd.it/j3txtkijxnx71.jpg?width=1839&format=pjpg&auto=webp&s=57992c11c3bf1e5b5fab6b3f97f2cbaf58eb8ef3) + +I suggest that anyone with serious investments in lithium should be watching [these prices](http://tsl.100ppi.com/), rather than using reporting agencies on a two week delay. Sharp movements can happen in days. + +If prices do retreat, it may have serious consequences for stocks that are operating at outrageous PEs (relative to the mining sector). I'll adjust my peer comparison table PEs when I see softness. +For hard rock producers, I believe moving up the [chain](https://www.reddit.com/r/ASX_Bets/comments/qclw98/comment/hhh0tx3/?utm_source=share&utm_medium=web2x&context=3) to midstream or downstream processing, [as PLS have done](http://www.pilbaraminerals.com.au/site/PDF/10a8e50d-e409-4c8e-912e-77c57fa63fef/PilbaraMineralsFinalisesAgreementsforPOSCODSJV), is critical to counter potential pricing weakness. The brines should be more resilient. + +There's been valid criticism on here that some/many lithium specs have run too hard, which I agree with in theory, but don't necessarily expect that they'll show much weakness this year without a catalyst. +In general, I'm against blanket statements like 'lithium has peaked'. Stagnating/retreating prices should adversely affect most stocks, but I think well chosen specs should still bloom in an environment where spot prices are above US$20k/t. Of course, the market is sentiment driven, and events like Evergrande could have a notable impact. + +**Why I think MIN & ALB won't sell spodumene:** +Albermarle control 60% of the MARBL JV, so selling Wodgina spodumene on the market at US$1500/t would see them make no more than about US$150mill pa. +They plan to have 125ktpa of LCE capacity by the end of 2022. A decline of US$1500/t in the LCE price would erase the entirety of their net profit from the spodumene. +And if Wodgina spod were to bring the market into slight oversupply in 2022, it would result in a larger LCE drop than US$1500/t. They'd be mad to do it. + +**Edit:** updated lithium carbonate spot prices +Stock Market is down 30%, real estate will soon follow (+ 3 month?). I was too inexperienced when 2008 hit. Now that we are here again, what are the things we could do to take advantage of this opportunity? Continue to buy shares, invest in real estate? leverage more? Open ended questions if you have insights to share based on past downturns. +With a lot of expertise from all over the place and this subreddit. I have been investing for 6 months. Got myself a $7.5k Portfolio with an annual yield of $540. I get really inspired when I see some of the big fish on here flexing. I also feel inspired when I see older people starting as well. I just turned 21 and can't wait to see some fat "guap", as they say where I'm from, at an older age with patience and reinvesting. +Hello! I keep trying to explain to friends and family how if done right, you can minimise risk and maximise reward. I was explaining the S&P 500 index fund and how it is the least risky type of investment, and how over time it has gained over 100 years 7-8% adjusted with inflation. Now I know there is a risk, but it makes my blood boil when they say it's gambling just like the casino because it ain't. They obviously don't know much about it. My question to you guys, how do you respond in a way to show them it's not and that it's bad stigma from day traders and culture that makes em think this way? How do I explain in the most layman terms to them that an index fund in the S&P 500 is the least risky option when it comes to investing? Appreciate the support. + +I’m literally at my wits end right now I’m just so exhausted emotionally. + + +I currently live on my own because I grew up in an extremely toxic household. I was never able to afford college and when I turned 20 my parents kicked me out of the house. It’s been a struggle these past 3 years living alone and living paycheck to paycheck but I’ve managed. I rarely see my parents now, just on a birthday here or there or lightly over the holidays. + + +Recently my parents saw me post about my significant other online and they became enraged. Within an hour of me posting the pictures of the two of us together my parents were spamming my phone with texts like “how could you?” and “we would never support a marriage with someone like that”. I tried talking to them on the phone and explaining that I’m an adult and I can date who I want even if it’s someone who has a different background than me. My mom ended the call with “we will see about that”. + + +I thought that was the end of it until just this past Tuesday my card was declined at the grocery store for insufficient funds. When I checked my banking app nearly all of my funds have been withdrawn from my account. I panicked and called my bank and was basically told my parents were still authorized users on my account and they had access to send/withdraw funds. + + +At this point I was so upset I was in tears and called up my mom who said they withdrew the funds because I was “no longer their daughter” because of who I decided to date. My mom said she kept note of every time they gave me money for a birthday or holiday ever since I was a child and she was just getting that money back since I was being disowned. The amount totaled to essentially my entire balance so my bank account was wiped cleaned. + + +Since then all my automatic charges on my account keep bouncing since I’m entirely broke. My utilities all bounced, I haven’t been able to buy food since Tuesday and my rent which was due earlier this week also went unpaid. I asked my work for an advance but was denied and I don’t get paid for over a week still. + + +Worse still my parents also reached out to my significant other and basically told him to stay away from me. I guess this spooked him because we haven’t been talking the past few days. I’m just feeling so depressed and alone right now. The only text messages I’ve received today is my landlord threatening to start the eviction process since I haven’t been able to pay my rent still even after I tried explaining the situation to him. + + +I’ve been trying to fight the bank to get back the money in my account but it’s currently not looking too good. There’s just so much going on with trying to make sure my relationship is okay, dealing with my parents and also trying not to get kicked out on the street or starve before next week’s paycheck. +Ryan Cohen is the largest individual shareholder of Apple with 6.2 million shares (edit for post split amount) He holds no positions with the company, but being such a large shareholder, being Chairman of Gamestop and founder/former CEO of Chewy, I would imagine he has some voice and pretty sweet connections with Apple. Also, RC only owns shares in two companies: Gamestop and Apple. + + As well, I just saw an article stating that Apple wants nothing to do with Zucks' Metaverse project. So, I gotta wonder, is there the possibility of something going on between Gamestop and Apple? I certainly think it is possible. Thoughts? +I think sending formal complaints/tips to the SEC with the same priority as when we voted is a good idea. + +First time posting but I’ve been here since THAT sub. I truly think that SHF are trying to suppress the idea that sending in formal complaints to the SEC won’t help. Posts about this get buried. Which is why I am even doing this. + +I saw a great post (linked below with instruction on how to file a complaint) that showed how if we use their system and it shows record breaking complaints all about the same thing they have to see it. Since people are zen and waiting anyways, why not take 5 minutes to follow the proper channels and bring it to the people who should be on our side. Like that post said, if we can get 10k votes on LEGO we should be able to show up where it matters. + +I know one cannot count on the SEC but it literally cannot hurt. Only help. Especially with GGs recent tweet. Might as well give them the evidence you feel they are ignoring. + +An avalanche at your door is harder to ignore than a few light sprinkles of snow. + +Of course, this is not financial advice. I am retarded. Make your own decisions. + +Link- https://www.reddit.com/r/Superstonk/comments/ouff0c/i_just_filled_a_complaint_with_the_sec_and_i_cant/?utm_source=share&amp;amp;amp;amp;amp;amp;amp;amp;utm_medium=ios_app&amp;amp;amp;amp;amp;amp;amp;amp;utm_name=iossmf + +Thanks u/memebetch6969 + + +EDIT: Some apes have made great points that we don’t want to bombard with half assed complaints as well as avoiding the “call to action” and “hive mentality” so that it can’t be used against us as collusion. I agree and reworded my post to reflect that. This is not a call to action. I’m simply stating my opinion that if people are upset with the system, to complain to the authorities that seek to regulate the system. If you personally feel like filing a complaint then go for it! If not do whatever you want :) I’m only speaking on my own behalf here. I wish I could change my title and remove the “we” because there is no we here. Just individual investors who like the stock. + +EDIT 2: as u/BellaCaseyMR pointed out, complaining to the SEC is a constitutionally protected act and shouldn’t/can’t be able to be used as evidence of market manipulation. Provided this is true, I’m less worried about this post having a negative impact. I feel I’m in my right as an stock holder to speak on the behalf of my company. If you feel the same nice if not nice as well. I don’t care I’m just an individual investor. + +EDIT 3: have seen a few requests for a template but I don’t feel comfortable providing one for two reasons. +1. I’m smooth brain and would fuck it up +2. I’d rather it be individual thoughts rather than a blanket hive mind copy pasta. Feel it’s safer for us as individual investors who are constantly trying to be set up for collusion by the real manipulators. + +EDIT 4: For the apes who feel the SEC isn’t doing anything and are bothered. u/JY0KER pointed out you can actually file a complaint about the SEC with the Better Business Bureau. I personally feel they have been working towards some sort of investigation so I don’t think this is needed but wanted to throw it out there as he can’t post/comment due to sub restrictions. I’m simply a messenger ape here 🦧 + +No more edits I promise! +This sub is going downhill. We need to get this back to helping people, not humble brags about paying off a $1k loan. Good job, but do we need 50 threads a day about that? No. + +Suggestion: none of these posts daily. Let's move to a sticky thread? The screen shots don't add much to the conversation - they are unneeded. Let's get back to helping others. +Obviously I’m not going to buy into the most upvoted stocks so no “positions or ban” bs + +They offered be a % of the post tax gains as payment for doing so. All I do is yolo onto tickers posted by autists here and they think I’m the next Warren Buffett. + +Just wondering if you had this opportunity what you would put it to, and if you’d even take the chance knowing you could lose your parents money +I found a connection between Hood and GME... I believe, that Hood was added to the same short selling Algo. Those funds could be used to push GME lower, and once HOOD hits $0... MOASS begins, and the market crashes for real... + +On Sept. 15, 2008, **Lehman Brothers**, a well-known and respected investment bank, filed for bankruptcy protection after the Bush Administration's Treasury Secretary, Hank Paulson, refused to grant them a bailout. + +[Major Index's on Sep 15th 2008.](https://preview.redd.it/72zsjmrwnae81.png?width=2196&format=png&auto=webp&s=4235343520b731c5e88eb2ce0407d8a32d506586) + +If Robin Hood, was to file for bankruptcy, like Lehman Brothers - I would expect the markets to react in the same way, or more severe. + +Robin Hood is the perfect scape goat. It can go to zero, you can Jail Vlad, and blame them for the crash..... Kenny walks free out the back door... + +[49 Lawsuits against RH.](https://preview.redd.it/rml8qcgfoae81.png?width=1338&format=png&auto=webp&s=5bf3d11fec55a4214429eff26118f052446ee74b) + +Its the perfect short... Lets look at the chart... + +[Dog Shit Chart, doesn't even go back 6 months... ](https://preview.redd.it/ejzitlwxoae81.png?width=2026&format=png&auto=webp&s=a78b288401aec4d069c9929d0a4e7a9a2de18a3a) + +But... around 11/11/2021, the volume really started to pick up... + +[Regular Volume was around 3-4 million. The volume is the right column.](https://preview.redd.it/61r1ri9dpae81.png?width=1836&format=png&auto=webp&s=447364a17cbcf843d4115688304acd78e9a85922) + +Then... all of a sudden... the Volume on Hood went crazy... + +[The right column is volume... ](https://preview.redd.it/wnjxlotjpae81.png?width=1804&format=png&auto=webp&s=46e7afc82c88e3411368290bcf16028cde562f5a) + +[Volume is really starting to pick up... ](https://preview.redd.it/mces9g8lpae81.png?width=1790&format=png&auto=webp&s=bf375712a90a71a1d16691cb18709dd92932dfbe) + +[And now they are literally printing money... \(307Million for this third list\)](https://preview.redd.it/6bjx8agmpae81.png?width=1820&format=png&auto=webp&s=65194657f8aab33fde9ed9a175c633c37dcca4d5) + +[Float is 456M shares... ](https://preview.redd.it/c1ke4u3sqae81.png?width=924&format=png&auto=webp&s=7d084301bb0a628202cc167b9199e9cb4ad5a1b9) + +The source is here: [https://finance.yahoo.com/quote/HOOD/history?p=HOOD](https://finance.yahoo.com/quote/HOOD/history?p=HOOD) + +So what else started happening around 11/11/2022 + +[Not my \\"Stop Loss\\" its standard on Yahoo](https://preview.redd.it/ipg7duixpae81.png?width=2038&format=png&auto=webp&s=bb66998005a2f9ab45cbd7d2e052a64268994191) + +GME started tanking like crazy. + +So... If you look at the Volume on RH, it all of a sudden had an extra 10 million shares a day. At $30 thats $300,000,000.00 a day ($30 X 10million). + +Is it possible, that at some point, they decided to make Robin Hood the sacrificial lamb. They can short it for 10 million shares a day and no one is gonna care of question them going out. Most of the leadership sold their stock. The volume picks up the same time that GME starts to get shat on... It all seems to coincidental... + +When Robin Hood does finally hit Zero, they are out of fresh cash, they dont have anything else to short - and then the squeeze is on - + +[Hood VS GME 5 day Chart](https://preview.redd.it/7fvil7wrrae81.png?width=2072&format=png&auto=webp&s=ed8a121777926b9ac0301aa25166a1e4957b1e7e) + +[Hood VS GME 1 Day Chart](https://preview.redd.it/5impj86urae81.png?width=2056&format=png&auto=webp&s=da37cfd09de38186e05be30bcc0d9cd0c5de016e) + +[Hood VS GME 1 Month](https://preview.redd.it/7ibakfdwrae81.png?width=2066&format=png&auto=webp&s=8737b5e55d75d417bd2c47ccb572c632bf94c5a9) + +[Hood 3 month chart... ](https://preview.redd.it/h43hjd9yrae81.png?width=2060&format=png&auto=webp&s=bb5c99f447acb0a64db3c84c5358379abce2db02) + +**TLDR: Robinhood became the sacrificial lamb around 11/11/2021. They knew that company was going under and it was added to the same short selling algo as GME. They could be using that HOOD short sale money to push GME lower. When RH hits zero/files for bankruptcy, MOASS will start and mkt will collapse.** +So my wife and I just got done meeting with a financial advisor. I'm sitting there ready to talk BRRRR strategy. + +I'm thinking I'm going to borrow against the equity in my primary residence to purchase a property to renovate (edit: then reappraise, refi, pay off debt tied to primary residence,) and then rent. Owe about 80,000 on the house that is worth 260,000. + + But this guy is saying contribute as much money as you can into your TSA and your Roth IRA. And whatever you do, DON'T BORROW AGAINST YOUR HOUSE. He was very emphatic about that. his reasoning is basically, what happens if the housing market goes down or what happens if you can't find a renter. + +At this point my thought about that is, why the heck not? The risk of doing this kind of deal is going to be the same whether or not the money borrowed is tied to my primary residence or not. Even if I just happen to have the cash for a down payment, the risk of buying, rehabbing and renting is going to be the same. + +And now he has my wife scared that we could lose our house if we do this. I'm pretty upset right now. I don't really see that happening. + +I'd love to get some perspective on some of you that are already on me real estate investing side of things. How much validity is there to what this guy is saying? +Well its happened, the crypto market just experienced the worst crash since 2014, the bubble has burst. [The idiocy of newbies FOMO-ing into anything with low nominal value lead to endless twitter timelines like this](https://i.imgur.com/zDjmRjl.jpg), and now nobody has any idea where the market settles. What do you do now? + +In the following weeks it will be a good time to rethink your investment approach and how you arrive at your decisions. Just buying whatever is shilled on Twitter or Reddit and jumping from one crypto to another isn't going to work like it did these last two months. + +The good news is that we're finally back closer and closer to our long term moving average which is much more healthy for entrants, the bad news is that the fear might continue compounding if outstanding issues are not dealt with. [Tether is the big concern for me personally for reasons I've stated many times](https://np.reddit.com/r/CryptoCurrency/comments/7tg8fn/tether_drama_tether_has_dissolved_relationship/dtco50g/), but some relief in the short term may come if the SEC and CFTC meeting on February 6th goes well. Nobody really knows where the bottom is but I think we're now past the "irrational exhuberance" stage and we're entering a period of more serious inspection where cryptos will actually have to prove themselves as useful. I suspect hype artists like CryptoNick and John McAfee will fall out of favor. + +But perhaps most importantly use this as a learning experience, don't try to point fingers now. The type of dumb behavior that people were engaging in that was rewarded in a bull market (chasing pumps, going all in on a shillcoin, following hype..etc) could only ever lead to what we are experiencing now. Just like so many people jumped on the crypto bandwagon during the bull run, they will just as quickly jump on whatever bandwagon is to be used to blame for the deflation of the bubble. Nobody who pumped money into garbage without any use case will accept that they themselves with their own investing behavior were the real reason for the gross overvaluation of most cryptocurrencies, and the inevitable crash. + +So if you're looking for a fresh start after the massacre (or just want to get in now), here is a guide: + +#Part A: Making a Investment Strategy +--------------------------- + +This is your money, put some effort into investing it with an actual strategy. Some simple yet essential advice that should apply to everyone, regardless of individual strategy: + +1. Slow down and research each crypto that you're buying for at least a week. + +2. Don't buy something just because it has risen. + +3. Don't exit a position just because it has declined. + +4. Invest only as much as you can afford to lose. + +5. Prepare enter and exit strategies in advance. + +First take some time to think about your ROI target, set your hold periods for each position and how much you are actually ready to risk losing. + +**ROI targets** + +A lot of young investors who are in crypto have unrealistic expectations about returns and risk. A lot of them have never invested in any other type of financial asset, and hence many seem to consider a 5-10% ROI in a month to be unexciting. + +But its important to temper your hype and realize why we had this exponential growth in the last year and how unlikely it is that we see 10x returns in the next year. What we saw recently was [Greater Fool Theory](https://en.wikipedia.org/wiki/Greater_fool_theory) in action. Those unexciting returns of 5-10% a month are much more of the norm, and much more healthy for an alternative investment class. + +You can think about setting a target in terms of the market ROI over a relevant holding period and then add or decrease based on your own risk profile. + +**Example: Calculating a 2 year ROI target** + +Lets say you want to hold for 2 years now, how could you set a realistic target to strive for? You could look at a historical 2 year return as a base, preferably during a period similar to what we're facing now. Now that we had a major correction, I think we can look at the two year period starting in 2015 after we had the 2014 crash. To calculate a 2 year CAGR starting in 2015: + +Year | Total Crypto Market Cap +-------|------ +Jan 1, 2015:| $5.5 billion +Jan 1, 2017: | $18 billion + +Compounded annual growth return (CAGR): [(18/5.5)^(1/2)]-1 = 81% + +This annual return rate of 81% comes out to about 4.9% compounded monthly. This may not sound exciting to the lambo moon crowd, but it will keep you grounded in reality. You can aim for a higher return (say 2x of that 81% rate) if you choose to take on more risky propositions. I can't tell you what return target you should set for yourself, but just make sure its not depended on you needing to achieve continual near vertical parabolic price action in small cap shillcoins because that isn't sustainable. + +Once you have a target you can construct your risk profile (low risk vs. high risk category coins) in your portfolio based on your target. + +**Risk Management** + +Everything you buy in crypto is risky, but it still helps to think of these 3 risk categories: + +* Core holdings - This is the exchange pairing cryptos and those that are well established. These are almost sure to be around in 5 years, and will recover after any bear market. The Coinbase pairs (Bitcoin, Litecoin and Ethereum) are in this class of risk, and I would also argue Monero. + +* Medium Risk Speculative - These would be cryptos which generally have a working product and niche, but higher risk than Core. Things like ZCash and Ripple, relatively established history but still uncertainty over long term viability. + +* High Risk Speculative - This is anything created within the last few months, ICOs, low caps, shillcoins...etc. Most cryptos are in this category. + +How much risk should you take on? That depends on your own life situation for one, but also it should be proportional to how much expertise you have in both financial analysis and technology. + +The general starting point I would recommend is: + +* 50-70% for newbies in Low Risk Core, then you can go down to 30% as you gains confidence and experience + +* Always try to keep at least a 1/3rd in safe core positions + +* Don't go all in on speculative picks. + +Some more core principles on risk management to consider: + +* Diversify across sectors and rebalance your allocations periodically. + +* Consider using dollar cost averaging to enter a position. This generally means investing a X amount over several periods, instead of at once. You can also use downward biased dollar cost averaging to mitigate against downward risk. For example instead of investing $1000 at once in a position at market price, you can buy $500 at the market price today then set several limit orders at slightly lower intervals (for example $250 at 5% lower than market price, $250 at 10% lower than market price). This way your average cost of acquisition will be lower if the crypto happens to decline over the short term. + +* Don't have more than 5-10% of your net worth in crypto. + +* Have the majority of your holdings in things you feel good holding for at least 2 years. Don't use the majority of your investment for day trading or short term investing. + +* Remember you didn't actually make any money until you take some profits, so take do some profits when everyone else is at peak FOMO-ing mode. + +* Have some fiat in reserve at a FDIC-insured exchange (ex. Gemini), and be ready to add to your winning positions on a pullback. This should be part of your entry strategy. + +* Consider what level of loss you can't accept in a position with a high risk factor, and use stop-limit orders to hedge against sudden crashes. Set you stop price at about 5-10% above your lowest limit. Stop-limit orders aren't perfect but they're better than having no hedging strategy for a risky microcap in case of some meltdown. Only you can determine what bags you are unwilling to hold. + + +You can think of each crypto having a risk factor that is the summation of the general crypto market risk (Rm), but also its own inherent risk specific to its own goals (Ri). + +Rt = Rm +Ri + +The market risk is something you cannot avoid, it is essentially the risk that is carried by the entire market over things like regulations. What you can minimize though the Ri, the specific risks with your crypto. That will depend on the team composition, geographic risks (for example Chinese coins like NEO carry regulatory risks specific to China), competition within the space and likelihood of adoption and other factors, which I'll describe in Part 2: Crypto Picking Methodology. + + +**Portfolio Allocation** + +Along with thinking about your portfolio in terms of risk categories described above, I really find it helpful to think about the segments you are in. [OnChainFX](http://onchainfx.com/) has some segment categorization but I generally like to bring it down to: + +* Core holdings - BTC, Ethereum, LTC...etc + +* Platform segment - Ethereum, NEO, Ark...etc + +* Privacy segment - Monero, Zcash, PivX..etc + +* Finance/Bank settlement segment - Ripple, Stellar...etc + +* Enterprise Blockchain solutions segment - VeChain, Walton, Factom...etc + +* Promising Tech segment - NANO/Raiblock, Cardano...etc + +Think about your ["Circle of Competence"](https://en.wikipedia.org/wiki/Circle_of_competence), your body of knowledge that allows you to evaluate an investment. Your ability to properly judge risk and potential is going to largely correlated to your understanding of the subject matter. If you don't know anything about how supply chains functions, how can you competently judge whether VeChain or WaltonChain will achieve adoption? If you don't understand anything about the tech when you read the Cardano paper, are you really able to determine how likely it is to be adopted? + +Consider the [historic correlations between your holdings](https://cointrading.ninja/correlation). Generally when Bitcoin pumps, altcoins dump but at what rate depends on the coin. When Bitcoin goes sideways we tend to see pumping in altcoins, while when Bitcoin goes down, everything goes down. + +You should diversify but really shouldn't be in much more than around 12 cryptos, because you simply don't have enough competency to accurately access the risk across every segment and for every type of crypto you come across. If you have over 20 different cryptos in your portfolio you should probably think about consolidating to a few sectors you understand well. + + +#Part B: Crypto Picking Methodology (Due Dilligence) +------------------------------------------ + +Do you struggle on how to fundamentally analyze cryptocurrencies? Here is a 3-step methodology to follow to perform your due dilligence: + +# Step 1: Filtering and Research + +There is so much out there that you can get overwhelmed. The best way to start is to think back to your own portfolio allocation strategy and what you would like to get more off. For example in my view enterprise-focused blockchain solutions will be important in the next few years, and so I look to create a list of various cryptos that are in that segment. + +[Upfolio has brief descriptions of the top 100 cryptos and is filterable by categories](https://www.upfolio.com/100-coins-explained), for example you can click the "Enterprise" category and you have a neat list of VEN, FCT, WTC...etc. + +Once you have a list of potential candidates, its time to read about them: + +* Critically evaluate the website. If it's a cocktail of nonsensical buzzwords, if its unprofessional and poorly made, stay away. Always look for a roadmap, compare to what was actually delivered so far. Always check the team, try to find them on LinkedIn and what they did in the past. + +* Read the whitepaper or business development plan. You should fully understand how this crypto functions and how its trying to create value. If there is no use case or if the use case does not require or benefit from a blockchain, move on. + +* Check the blockchain explorer. How is the token distribution across accounts? Are the big accounts selling? Try to figure out who the whales are (not always easy!) and what the foundation/founder account is based on the initial allocation. + +* Look at the Github repos, does it look empty or is there plenty of activity? + +* Search out the subreddit and look at a few Medium or Steem blogs about the coin. How "shilly" is the community, and how much engagement is there between developer and the community? + +* I would also go through the BitcoinTalk thread and Twitter mentions, judge both the length and quality of the discussion. + +You can actually filter out a lot of scams and bad investments by simply keeping your eye out on the following red flags: + +* allocations that give way too much to the founder + +* guaranteed promises of returns (Bitcooonnneeeect!) + +* vague whitepapers filled with buzzwords + +* vague timelines and no clear use case + +* Github with no useful code and sparse activity + +* a team that is difficult to find information on + +#Step 2: Passing a potential pick through a checklist + +Once you feel fairly confident that a pick is worth analyzing further, run them through a standardized checklist of questions. This is one I use, you can add other questions yourself: + +Crypto Analysis Checklist | +---------| +What is the problem or transactional inefficiency the coin is trying to solve? | +What is the Dev Team like? What is their track record? How are they funded, organized? | +How big is the market they're targeting? | +Who is their competition and what does it do better? | +What is the roadmap they created and how well have they kept to it? | +What current product exists? | +How does the token/coin actually derive value for the holder? Is there a staking mechanism or is it transactional? | +Is there any new tech, and is it informational or governance based? | +Can it be easily copied? | +What are the weaknesses or problems with this crypto? | + +The last question is the most important. + +This is where the riskiness of your crypto is evaluated, the Ri I talked about above. Here you should be able to accurate place the crypto into one of the three risk categories. I also like to run through this checklist of blockchain benefits and consider which specific properties of the blockchain are being used by the specific crypto to provide some increased utility over the current transactional method: + +Benefits of Cryptocurrency | +---------| +Decentralization - no need for a third party to agree or validate transactions. | +Transparency and trust - As blockchain are shared, everyone can see what transactions occur. Useful for something like an online casino. | +Immutability - It is extremely difficult to change a transaction once its been put onto a blockchain | +Distributed availability - The system is spread on thousands of nodes on a P2P network, so its difficult to take the system down. | +Security - cryptographically secured transactions provide integrity | +Simplification and consolidation - a blockchain can serve as a shared ledger in industries where multiple entities previously kept their own data sources | +Quicker Settlement - In the financial industry when we're dealing with post-trade settlement, a blockchain can drastically increase the speed of verification | +Cost - in some cases avoiding a third party verification would drastically reduce costs. | + + +#Step 3: Create a valuation model + +You don't need to get into full modeling or have a financial background. Even a simple model that just tries to derive a valuation through relative terms will put you above most crypto investors. Some simple valuation methods that anyone can do: + +**Probablistic Scenario Valuation** + +This is all about thinking of scenarios and probability, a helpful exercise in itself. For example: Bill Miller, a prominent value investor, [wrote a probabilistic valuation case for Bitcoin in 2015](http://dev.lmminvestments.com/a-value-investors-case-for-bitcoin/). He looked at two possible scenarios for probabalistic valuation: + +1. becoming a store-of-value equal to gold (a $6.4 trillion value), with a .25% probability of occurring +2. replacing payment processors like VISA, MasterCard, etc. (a $350 million dollar value) with a 2.5% probability + +Combining those scenarios would give you the total expected market cap: (0.25% x 6.4 trillion) + (2.5% x 350 million). Divide this by the outstanding supply and you have your valuation. + + +**Metcalfe's Law** + +[Metcalfe's Law](https://en.wikipedia.org/wiki/Metcalfe's_law) which states that the value of a network is proportional to the square of the number of connected users of the system (n^2). So you can compare various currencies based on their market cap and square of active users or traffic. We can alter this to crypto by thinking about it in terms of both users and transactions: + +For example, compare the Coinbase pairs: + +Metric | Bitoin | Ethereum | Litecoin +---------|----------|----------|---------- +Market Cap | $152 Billion | $93 Billion | $7.3 Billion +Daily Transactions (last 24hrs) | 249,851| 1,051,427 | 70,397 +Active Addresses (Peak 1Yr) | 1,132,000 |1,035,000 | 514,000 +Metcalfe Ratio (Transactions Based)| 2.43 | 0.08 | 1.47 +Metcalfe Ratio (Address Based)| 0.12| 0.09 | 0.03 + +Generally the higher the ratio, the higher the valuation given for each address/transaction. + +**Market Cap to Industry comparisons** + +Another easy one is simply looking at the total market for the industry that the coin is supposedly targeting and comparing it to the market cap of the coin. Think of the market cap not only with circulating supply like its shown on CMC but including total supply. For example the total supply for Dentacoin is 1,841,395,638,392, and when multiplied by its price in early January we get a market cap that is actually higher than the entire industry it aims to disrupt: Dentistry. + +**More complex valuation models** + +If you would like to get into more fleshed out models with Excel, I highly recommend Chris Burniske's blog about using Quantity Theory of Money to build an [equivalent of a DCF analysis for crypto](https://medium.com/@cburniske). + +[Here is an Excel file example of OMG done by Nodar Janashia using Chris' model ](https://docs.google.com/spreadsheets/d/1FvYGe0TA-rZR00iAV2PDI-B9zba6GpEG1FodECWJDys/edit). + +You should create multiple scenarios with multiple assumptions, both positive and negative. Have a base scenario and then moderately optimistic/pessimistic and highly optimistic/pessimistic scenario. + +Personally I like to see at least a 50% upward potential before investing from my moderately pessimistic scenario, but you can set your own safety margin. + +The real beneficial thing about modelling isn't even the price or valuation comparisons it spits out, but that it forces you to think about why the coin has value and what your own assumption about the future are. For example the discount rate you apply to the net present utility formula drastically affects the valuation, and it reflects your own assumptions of how risky the crypto is. What exactly would be a reasonable discount rate? What about the digital economy you are assuming for the coin, what levers affects its size and adoption and how likely are your assumptions to come true? You'll be a drastically more intelligent investor if you think about the fundamental variables that give your coin the market cap you think it should hold. + + +#Summing it up +------------------------------------------ + +The time for lambo psychosis is over. But that's no reason to feel down, this is a new day and what many were waiting for. I've put together in one place here how to construct a portfolio allocation (taking into consideration risk and return targets), and how to go through a systematic crypto picking method. I'm won't tell you what to buy, you should always decide that for yourself and DYOR. But as long as you follow a rational and thorough methodology (feel free to modify anything I said above to suit your own needs) you will feel pretty good about your investments, even in times like these. + + +Edit: Also get a [crypto prediction ferret](https://i.imgur.com/ZEJqZHf.jpg). You won't regret it. +I'm new to algo trading, so I'm asking this community to check my first strategy before I start building it out. I'm probably not the first person to think of this so any research or resources you guys can offer at all would be appreciated. + +Trading Environment: +I have settled on using interactive brokers api and python to build this out. I'm skilled enough in python to do most of the data fetching, back testing, and QA/TA with different models or other services, so I'll probably just use interactive brokers api to get real time data on lists of stocks and execute the trades. Would this community recommend any other brokerages or api tools? Also I'm working on a windows 10 environment. + +Strategy: +So I don't know if this has a name or anything, but the idea is pretty simple. The program would keep a close eye on top gainers in pre-market trading and make purchases on the top 10 stocks by %gain either right at 4am, or a few minutes after once patterns can be found. The program would watch the top 10 and sell out of anything that falls to #11 replacing it with the new #10 holding stocks 1-9 till market open. Then once market opens +/- a few minutes it sells all 10 stocks. If at any point a stock hits some %gains I'm happy with(30%,50%,100%) I sell out of that stock and blacklist it to just take the gains. Pretty simple and sounds like it should work. + +I have been keeping an eye on top market gainers for the last couple weeks and if you include OTC/PINK stocks you get some wild upsides in pre-market. I can see loosing out on some money if #1 drops to #11 quick, or bleeding pennies by constantly buying #10 then selling it the moment it goes down. However I feel like the upside of #1-9 would make up for that. To a noob like me it sounds like it "can't" loose money, but I'm not arrogant enough to assume I'm the first person to think of this, or that it would be this simple. + +Any advise or conversation you all could offer me on this project would be greatly appreciated. + + + +Edit: this got a lot more attention than I expected. Thank you all for your input, especially the post telling me where it might fail. Like I said at the top I am new to this and figured I was overlooking a lot of ways this could go wrong. I still think I might have something here, but even if I'm wrong it will be a learning experience. + +Some input I am taking right away. I won't be able to rely on any premade %gain lists from any brokers as they calculate that off prior days close, so I could be buying a stock that ran after hours rather than one that's running now. Using a trailing stop loss is a much better idea than selling at x% gain. lets me take advantage of any runs I might find while limiting risks. I need to figure a way around low volume while trying to exit positions. I can't just set a sell limit order for x stock at x.xx price and assume it will go through.i need to pay attention to volume or different momentum indicators on top of % change. Plus much much more. Again thanks for all the input. +so I accidentally transferred someone $300 via ANZ, it was meant to go to someone I know but I typed her account number in wrong (last digit off) so the money didn’t go to her account (combank), I realised the mistake then transferred her using the correct account number. I tried calling ANZ to dispute it and reverse it as it’s the wrong account number but they said their support line was closed over the weekend. What can I do, if I just wait to Monday will it be fine? Or do I need to do something now within 24hrs or will it be too late? + +Please let me know +Hello Guys, + +So, for the past few months, I have been evaluating my financial situation and trying to plan an early retirement and I was hoping to get advice on how to plan/achieve that. + +I am 34, working in IT living in Germany, I am single so I am butchered by a high tax class which takes 42% of my salary. + +**Goal: Early retirement and invest from 800-1000 per month for the next 10 years** + +**Here's my situation:** + +* I have a steady net income of 4000 EUR for over a year now + * Living Expenses are around 3000 - so I have 1000 left to invest + * Included in my living expenses, I have bought an apartment beginning of this year as an investment that I pay for also monthly (Not a loan, so no interest here) +* I have 1 high interest loan for my car, but we covered that stupid mistake in that [post](https://www.reddit.com/r/Finanzen/comments/pbwfuo/question_on_high_interest_loans_in_germany/) here + * For this, I will try to pay this ASAP before investing some more +* I have invested 7000 EUR already in "good less risky" Crypto Projects for the long term (ADA, BTC, ETH, MATIC), so I am not touching that for the next 5 years at least + * I know I shouldn't have considering my car loan, but this is where I am now +* I have an emergency fund to cover 5 months of my monthly expenses in m bank + +&#x200B; + +Now, what I want to do is: + +1. Pay off the loan for my car +2. Start investing in stocks/ETF to relatively balance the high risk from my Crypto investment + +What do you think? I would appreciate any tip/advice here. + +Thanks in advance :) +Their customer service is non existent. Not only when you send an email they reply to you after 7+ days but also their answers are fixed and dry without even taking the time to provide any info. + +To be more specific: + +1. I asked in case of Degiro goes BANKRUPT and someone has a CUSTODY account (SPV LONG ONLY) since the financial instruments are not lent to third parties (Asset Segregation) if you can recover 100%-FULLY your assets instead of the ICS (Investor Compensating Scheme) of 20 K (which is a joke) ! +2. NOTHING is under your NAME (OMNIBUS accounts in SPV) since they use a complex system of Custody Chain that you are the Final Investor-Ultimate Beneficiary in a Chain of Rights (only a note from the side of DEGIRO as to who owns what exist). My second question was HOW you can recover-claim back your financial instruments since NOTHING is under your name after a BANKRUPTCY ? Which is the procedure that applies in that case ? In other words is it possible to transfer your portfolio to another broker after the bankruptcy of Degiro ? +3. Basic account > Third parties borrowing > If the third party-the Borrower sells your stocks at 50 EUR/share and the stock goes to 300 EUR/share (more than the 104%- used as a collateral) for 1000 shares. Does Degiro covers you to the FULL extent (300 EUR/share for 1000 shares) ? ? Or...there are Max figures-Limits ? + +They haven't replied to any of these questions ! + +Can someone here respond in case he/she knows ? Thanks ! +Friday was the last of the month, and in most of Germany the dividend disappeared. Monday is the 1st, new month and new quarter for GameStop. The shares will reappear, because they only had to disappear for the end of the month/quarter financial statements of the brokers, where unfortunately the numbers had to make sense, therefore they had to deactivate the splivy for the weekend. so that they don't mess up the books. + +all these brokers delivered nothing and keep displaying a imaginary number, ever since the split. what apes see in their accounts right now are the actual real numbers, that are on the books of the brokers. the don't want u to see those, so monday they're gonna switch to the fake version again. + +like the trick with the infinitely looping CCTV tape in the 1994 movie Speed, and what we just saw was the end of the tape where the loop doesn't match up perfectly. + +these criminals, are once again, naked as shit. and I swear as soon as I get my hands on that synthetic subprime dogshit they peddle, I'm going to DRS the living fuck out of it. Monday the first. 💎🙌 +https://www.dw.com/en/former-wirecard-ceo-markus-braun-arrested/a-53905720 + +>Prosecutors have arrested the former head of German payment services provider Wirecard on suspicion of accounting fraud and market manipulation. Munich's prosecutor's office announced the arrest on Tuesday. + So the only reason it hasn't squeezed yet is not due to any selling but solely to all the shorting. Pure, unadulterated shorting from billion-dollar HFs. That's the only reason we aren't on Pluto yet. + +**THEY CAN'T KEEP THIS UP FOREVER, BUT WE CAN HODL FOREVER. FOR AS LONG AS IT FUCKING TAKES.** + +You've been poor your whole life. You can wait a few more months. + +Always go back to these 4 simple rules: + +1. The price is academic +2. It's only a loss if you sell +3. **Shorts must cover** +4. Hold until 🚀🚀🚀🚀🚀🚀 + +Everything else is noise. + +I will post this once a day to keep spirits up and heads in the game. + +Everyone and his brother knows Ryan Cohen is turning Gamestop's business model completely around from a brick and mortar retailer into an online retailer with similarities to amazon and steam. + +Everyone in the world knows new, fresh talented skill is being hired for key positions to effect this change. Everything about GME is coming up roses, and yet the stock continues to fall. + +What does that tell you besides that fact that evil HFs that STILL wanna see the company die out are stubbornly refusing to give up the fight and cut their losses? + +**SO I SAY WE STUBBORNLY REFUSE TO SELL, REFUSE TO QUIT HODLING, AND JUST BITE DOWN HARDER AND NEVER LET GO!!!** + +**WE WIN THIS BY BEING PATIENT!!! GO OUTSIDE AND DO SOMETHING FUN! TAKE YOUR MIND OFF THE STOCK TICKER! IT'LL BE A WHILE YET, BUT WE HAVE ALREADY WON!!!** + +Given that we currently hodl well over 100% of the float, possibly as high as 1000%, we, even we here, the Ape Army, essentially own Gamestop! We own the company! That means that when the squeeze happens there's no need to panic sell for a little profit at $500 or $1k or $10k per share. + +**It will go as high as we want it to go precisely because we own the company several times over! That means we get to decide what the stock's highest floor will be!** + +Please let that sink in. + +**DO NOT SELL UNTIL YOU NO LONGER HAVE TO WORK FOR A LIVING AND CAN ALSO LIVE THE HIGH LIFE! YOU WANT A LAMBORGHINI** (I don't; they're ugly...) **JUST HODL UNTIL IT'S $10 MILLION A FUCKING SHARE!! IT CAN ACTUALLY BE DONE!!! 10 MILLION A SHARE IS NOT A MEME! IT IS A REAL WORLD POSSIBILITY!!!** + So the only reason it hasn't squeezed yet is not due to any selling but solely to all the shorting. Pure, unadulterated shorting from billion-dollar HFs. That's the only reason we aren't on Pluto yet. + +**THEY CAN'T KEEP THIS UP FOREVER, BUT WE CAN HODL FOREVER. FOR AS LONG AS IT FUCKING TAKES.** + +You've been poor your whole life. You can wait a few more months. + +Always go back to these 4 simple rules: + +1. The price is academic +2. It's only a loss if you sell +3. **Shorts must cover** +4. Hold until 🚀🚀🚀🚀🚀🚀 + +Everything else is noise. + +I will post this once a day to keep spirits up and heads in the game. + +Everyone and his brother knows Ryan Cohen is turning Gamestop's business model completely around from a brick and mortar retailer into an online retailer with similarities to amazon and steam. + +Everyone in the world knows new, fresh talented skill is being hired for key positions to effect this change. Everything about GME is coming up roses, and yet the stock continues to fall. + +What does that tell you besides that fact that evil HFs that STILL wanna see the company die out are stubbornly refusing to give up the fight and cut their losses? + +**SO I SAY WE STUBBORNLY REFUSE TO SELL, REFUSE TO QUIT HODLING, AND JUST BITE DOWN HARDER AND NEVER LET GO!!!** + +**WE WIN THIS BY BEING PATIENT!!! GO OUTSIDE AND DO SOMETHING FUN! TAKE YOUR MIND OFF THE STOCK TICKER! IT'LL BE A WHILE YET, BUT WE HAVE ALREADY WON!!!** + +Given that we currently hodl well over 100% of the float, possibly as high as 1000%, we, even we here, the Ape Army, essentially own Gamestop! We own the company! That means that when the squeeze happens there's no need to panic sell for a little profit at $500 or $1k or $10k per share. + +**It will go as high as we want it to go precisely because we own the company several times over! That means we get to decide what the stock's highest floor will be!** + +Please let that sink in. + +**DO NOT SELL UNTIL YOU NO LONGER HAVE TO WORK FOR A LIVING AND CAN ALSO LIVE THE HIGH LIFE! YOU WANT A LAMBORGHINI** (I don't; they're ugly...) **JUST HODL UNTIL IT'S $10 MILLION A FUCKING SHARE!! IT CAN ACTUALLY BE DONE!!! 10 MILLION A SHARE IS NOT A MEME! IT IS A REAL WORLD POSSIBILITY!!!** +Welcome to the Daily General Discussion thread of /r/EthTrader. + +*** + +Thread guidelines: + +- Please refrain from discussing non-Ethereum related tokens here. You are welcome to discuss altcoins in the Daily Altcoin Discussion thread. +- All [sub rules](https://www.reddit.com/r/ethtrader/about/rules/) apply here so please be familiar with them. + +*** + +To view live streaming comments for this thread, [click here](https://reddit-stream.com/comments/auto). Account permissions are required to post comments through Reddit-Stream.com. + +*** + +Enjoy! +I learned about backtesting software years after I started trading. I always had a problem with using paper money because it didn't have the emotion attached to it like my real money. Also, I didn't like waiting so long to get results. If you have a good strategy you can test years worth of trades in a single afternoon and find out really quickly if you like that strategy or how profitable it really is. Take the time to backtest, it's well worth it. + +FXblue has some free software for metatrader 4 and forex backtester 3 would be my paid recommendation. +The title basically covers it. M22 just started a job in London. 25k a year, rent is 660 a month excluding bills. Employer contributes 11% even if I contribute nothing. I'm currently contributing 4% but wondering if it would be silly to drop this down to 0% for the first few months while I'm adjusting to my salary and London prices. I know 4% isn't a lot in the grand scheme but the £84 it's worth could come in handy. What do you think? +I was emailed a couple of weeks back with a $17,000 bill that has now been elevated to ~$18k. + +Here is some backstory: +I applied to two universities, one in the U.S (Uni A) and the other abroad (Uni B); I paid for the initial deposit of both. Two weeks prior to that I received a scholarship offer from Uni B and accepted it. I emailed the University A's "apply" and "withdraw" email informing them that I won't attend. I just found out a couple of weeks ago that I was apparently never officially withdrawn and, so, they are billing me late fees, class fees, and misc. fees. + +I contacted the BURSAR and REGISTRAR office, both offered little help in resolving my issue - I even had them officiate my non-attendance. + +I gave up on them clearing the bill, so here's my question: +Will the University be able to hold me liable to this bill? I didn't attend and they don't have any official ID, credit card, bank account, or address. I'm abroad, how can I avoid this? I can't afford that $18,000 bill. + +Edit: a word. + +**Update 1** + +Below I included a portion of the itemized bill I received: + +* Art & Culture Fee +* Technology Fee +* Mental Health Fee +* Physical Health Fee +* Recreational Center Fee +* Student Insurance Gold Level Fee +* Fall Tuition Fee (~90% of the total bill) +* Overdue Bill Charges + +Note that I altered details to insure that the University remains anonymous until further notice. + +**Update 2** + +After contacting both the Registrar and Bursar, I submitted an official tuition dispute form to the Bursar. In this I included documents proving my enrollment and attendance at Uni B. I also followed up with an official letter from Uni B detailing my 100% attendance. + +I am now waiting for the committee to meet and decide the fate of my bill. + +**Update 3** + +Thanks all for the overwhelming support! + +> The University is at fault here, common practice is to wipe the student off the system if he/she doesn't present housing and doesn't attend neither attend orientation nor the first week of classes. I'd say lawyer up. + +I'd just like to mention that at this point of time I am not considering legal action. I have been in contact with the Assistant Dean of Students and she has been helpful & cooperative. However, I'm yet to be reassured that this is a mere administrative error. + +Special thanks to /u/rosythewench /u/mrozz /u/jabberwonk /u/beefstockcube for the assistance! +I'm glad I know where I stand on how much they value their employees at my job. Our multibillionaire owner took away holiday pay, paid vacation time, unpaid vacation time, refuses to get things fixed or replaced. We have to buy our own supplies like oven cleaner, oven mitts, sugar sifters, pastry bags and now they refuse to pay me for the hotel room I had to get because I couldn't drive home. + +I make $11.50 an hour, worked 7 hours and the hotel room cost me $111 so I actually lost money by going to work. On the other hand I also didn't get myself killed or totalled my car by risking driving and it was the most comfortable bed I've ever slept in and took a very long shower + +People tell me I should've called an Uber or taxi but I live in the middle of nowhere where there isn't much of Uber or taxis +Today I thought I'd share a little bit about trading psychology. This is very common knowledge, I guess you could say that I'm hoping to advise anyone who isn't already aware of this. + + +Working with money, we experience two common emotions - fear of losing it and hoping we don't make mistakes that may lead to losing it. Which are feelings of fear. The second one is a feeling of ecstasy. + + +In almost any forex trading community/course etc, they'll be sure to teach you about how you can try to keep your emotions in control. This is 80% of the time only related to just holding a losing position or suffering a losing streak. + + +The truth is, holding a losing position only becomes psychologically challenging if you're not following the right risk management or trading plan. And/Or, you don't even have a plan in place. If you did, you would know the reason your trade hit a stop loss - mostly you'll know before your stop is hit that the trade has been invalidated. + + +##Trading Psychology When In A Profitable Bubble + +_Take note I said "bubble" because I would assume if you have this issue - you must be struggling to stay in that bubble long enough to assume that you're profitable_ + + +Notice a pattern of a certain psychological behaviour when you have money? I'm talking money you can't even believe you have. + +You have a "_high_" kind of feeling. It's like everything is just right in the universe. + + +This is because money triggers a certain hormone in our pituitary gland. (_I won't dive into the biological terms etc, this isn't my expertise. You can search through the internet_). The important part is that hormone is almost like you took a drug of just perpetual happiness. + + +Back to forex trading. Now when you trade forex and you've reached the "aha!" moment stage. You've found a working strategy, plan etc and you're in that **bubble**. You are making money, consistently over a couple of days or weeks. You compound your account and make even more money. You become __euphoric__! + + +This is a very thin line between the reality and a dream because you're seeing money you haven't before. To some people, this happens early on in their career and they come here boasting about how come we struggle to make money in forex but we never see them two months down. + +Now that you are making money, you start feeling invincible because like I mentioned - this feeling is like a dream/drug. You're ecstatic. Where does risk management and trading the plan go? Out of the window! You have figured out the market, rules don't apply to you anymore. This is a beginning of a huge and ugly spiral down to losses and possibly depression. + + + +In my honest opinion, managing your emotions when you have found a working strategy and somewhat know what you are doing might be the most important part of moving forward from that "break even phase". This is something that will allow you to be disciplined even when you see an okay setup, you'll know that you're only going to trade a setup that fits your rules only nothing else. + + +Managing your emotions when making money leads to avoiding silly mistakes. When you're a successful trader, making enough for your family to stay in a comfortable environment - you'll realise that it's not one trade that has to pay for your monthly mortgage, it's a series of them. Also you realise that what's important is remembering that the profit isn't yours until it's realised. + + +This brings me to the last part of this. __Profit Taking__ + +You should always have really realistic profit targets. I mean very realistic. Yes 500 pips sound damn good, but a series of 10 trades that hit 50 pip profit targets are just as good. Sometimes you get a good home run sure but it can't happen the whole time. You just can't allow yourself to hold a trade until it goes back to a negative when you could have been happy with your gains and moved on. + +I think the reason this ends up looking like a job is because we want to force money out of the market. A good in and out of trades (_2 days max_) while you're still building an account are really rewarding long term. + +You can decide to go full position trading on stocks if you love the feeling. At least there you have some sort of guarantee that the S&P will keep rising after every dip. + + +__The idea__ is to once we get it right, we exploit it as best as we possibly can. But we can't do that if we marry our analysis and not get out of a trade when it has clearly matured so we can move on to new opportunities. __Or__ get big headed and abandon our rules. + + +_This isn't financial advice, please don't follow this blindly. I meant to copy and paste some old notes from an old source, David Paul but my wife cleared up old boxes so I hope this is close enough_ + +Happy to hear your thoughts, add-ons and criticism on this. +Hi all, 21F here. First generation American coming from a low-income family with immigrant parents who escaped a war torn country. I’m the oldest of 5 (only girl and consider myself a second mom to my younger brothers) + +I’m very, very, very privileged to be attending a top 40 university on a full ride with minimum debt (<10k total for all 4 years). I fought hard to leave my hometown (which has a reputation of trapping people to live miserable lives there forever. There’s a saying that if you don’t leave there before 20, you might as well reserve your spot at the local cemetery ahead of time.) despite going to an underfunded public school that didn’t believe in me. All my counselors discouraged me and tried to break my ambitious spirit, telling me I had no shot of going to school out of state, but I made it. + +But now, my brother is set to commit to college and he has two choices: go to a small but mighty out of state school near me that has a reputation for near 100% job placement for his major or stay in the in state school where the degree he’s intending to get is so saturated and meaningless he may never get a job. (Disclaimer: I’m not against state schools, this is very specific to this particular school and his career goal only). The answer that will save his future and give my brother, a kid who was beat down just as badly as me, a fighting chance is clear. But it comes at a cost: 60k for 4 years and $700 by Sunday or lose his spot. + +I have been fighting relentlessly with them this past month to give him more scholarships and they did, going from 120k owed to 60k, but they won’t go any lower. We weighed it over and it’s worth the risk (please don’t tell me in the comments that it’s not, I know the full context and I can assure you he won’t stand a chance in the other school) but they will not budge on the $700 deposit by Sunday. No waiver and no reduction. Meet it or lose the spot. + +$700?? That’s a whole month’s worth of groceries for our family. We never have anywhere close to that amount of money left at the end of the month, literally paycheck to paycheck. My dad works 70 hour weeks and my mom weekends just to make ends meet. They can’t offer that, especially on such short notice. I can’t even bring myself to tell them it’s $700 and the school refused any compromise (I’ve been doing all the negotiating, I speak English better). They’ll just tell him go to the state school. + +I want my brother to have a fighting chance, so I will pay it once the withdrawal from my savings deposits, but I hate this. I spent the last 4 years working odd jobs in college to save up to pay off my loans + put a down payment on an apartment post grad. I was set to hit 20k by the time I graduate, but the last year has been nonstop hit by hit forcing me to take more and more out. Now I’m down to a mere 3k, so this $700 (+$800 for car troubles and tax that I’m also due to pay) will cut out half of what I have left. All because this system punishes low income people like us. + +I hate it. It’s not fair that my brother has to choose between a good future in a secure white collar career he’ll love and that he’s always wanted or be doomed to the same fate as my parents working tireless hours just to live. It’s not fair that all those hours I’ve spent working on Friday nights rather than making memories with other college students to get money has been spent on things I didn’t want to spend them on and frankly shouldn’t have to. + +I’m not a crier, but I just want to cry and cry and cry. I wanted desperately for him to have the same luck I did with a fully funded college experience at a good school and he almost did. He did the work in hs, he got accepted, he got 200k in scholarships. But it’s still not enough and every one of us pays the price. + +Edit: thank you for all your kind words of support :) + +Edit 2: just to clarify, i’m not looking for harsh advice or judgment - it’s honestly not helpful. There is so much more to the situation that I didn’t explain for the sake of not making this post any longer than it already is. If that’s all you can offer or you don’t understand or agree with the sentiments I’ve written, please kindly skip this post. This was simply meant as a rant about the frustrating realities of being a low income American hoping to go to college, not an invitation to be critical. We’ve considered every option ever possible and know the consequences, these are still the two best. I don’t mean to be rude, so forgive me for that, but it just makes things worse. This is also rule 11 of the subreddit + +Thank you again to everyone who is being supportive and encouraging or is offering gentle advice! I appreciate it from the bottom of my heart + +Edit 3: to everyone who offered to cashapp/venmo me in my dm’s, your generosity really brings me to tears but I can’t and will not be accepting anything through any app or transfer out of simple respect for you all. Your willingness to give is just amazing. Thank you thank you thank you and I hope you all lead happy, successful, and fulfilling lives. +Howdy folks, + +Let's sit and have a little chat. My apologies if this comes across as FUD, but I think its a conversation worth having.Almost a decade ago, we had Stateside what people are now calling The Great Recession. Stocks were up, people were buying housing with money they didn't have and money with housing they didn't have. The bubble got big and big and big and POPPED. Hard. + +We all know it was from this economic recession that Bitcoin, the first crypto, came around and the rest is history. But as they say, those who don't learn from history are doomed to repeat it... + +Purchases for new homes are waaaaay up. The Stockmarket has NEVER been better! Its all smile and sunshines and and profts and we're sitting on our little Ethereum piles watching them grow. Hell, even Bitcoin is reaching new heights! 9k for digital gold folks! + +So why does it feel like this game of musical chairs is coming to an end very very very soon? Several times in this month alone, I heard mutters in the office about this bubble, referring to the economy as a whole, popping sometimes this year or next and to get the sales in while the money was hot with the clients. + +But this made me step back. Because its not a matter of if, but when. If economic theory is right, and these boom-bust cycles are about a decade long, then we're approaching the end of a growth cycle. And since we don't have any real life data to fall back on regarding cryptocurrency (and the fact that crypto exists almost as a form of protest to conventional standards that led to the last recession)... + +What happens to us? Basically, let's have a discussion. If things hit the fan, will people flock to crypto the same way they flock to gold in times of crisis? Will we get bled dry as people cash in to try and get their currency? What would YOU do? No mooning, no memeing, no over confidence... if you woke up with the market crashing tomorrow, what would you realistically do with your Ethereum? + +Cheers +&#x200B; + +https://preview.redd.it/pdit7vkynk671.png?width=1600&format=png&auto=webp&s=296503fc0a4df41903244dddfaec97f94882b384 + +Good Morning San Diago, + +I am Rensole and this is your daily news. + +Does anyone smell that? + +\*insert flashy intro card\* + +&#x200B; + +https://preview.redd.it/zdewbgc0ok671.png?width=680&format=png&auto=webp&s=3b28e6de3321c35952c309c13ed743bb4c325a2c + +# Reverse repo bingo! + +https://preview.redd.it/kh1dnk7hok671.png?width=870&format=png&auto=webp&s=8205651a3037870c4dd8af590d92d01a933ca92a + +This week starts off with some interesting things, the RRP's are currently standing at 747 billion, [https://apps.newyorkfed.org/markets/autorates/tomo-results-display](https://apps.newyorkfed.org/markets/autorates/tomo-results-display?SHOWMORE=TRUE&startDate=01/01/2000&enddate=01/01/2000) + +&#x200B; + +https://preview.redd.it/y2m8sggvok671.png?width=960&format=png&auto=webp&s=9290aee8edee8ae66e1e25264e7bb514f255e1de + +# The Exponential floor + +the "exponential floor" from u/jth1 it seems that we are still traveling bellow the exponential floor, and I want to thank u/jth1 for continuing to log this, this so that once a correction comes in or we have something change we can still use this graph to double check, I believe we may see a correction soon and we'll be able to create either a new graphic in which the support lines are visible, or come to a new theory/conclusion. + +&#x200B; + +[credit to u\/CachitoVolador ](https://preview.redd.it/y2sa714cpk671.png?width=720&format=png&auto=webp&s=501e727115a063adca46ea24b1b6c5e01ef56ad1) + +&#x200B; + +https://preview.redd.it/zz9symhipk671.png?width=1242&format=png&auto=webp&s=21c0f7d95a64d4697d053c174f77ff0637a058be + +# Rc's fathersday tweet. + +It was fathers day yesterday, so I'd honestly say it would be one of the few times the man could post something about his dad without being bombarded with "wen moon" jokes, even if I've seen some of the theories on here which I would love to be true, I'm currently in the mindset that this is nothing more then the man showing some love for his father. + +&#x200B; + +https://preview.redd.it/2uezp5r8qk671.png?width=313&format=png&auto=webp&s=0958ae73e8e594dfaef458ddfe8f05879aabaf67 + +Larry Cheng, GME boardmember. + +&#x200B; + +[credit to u\/Manonthemon ](https://preview.redd.it/nugyu7aeqk671.png?width=960&format=png&auto=webp&s=d814f8f5af0cc5522abc03bbbe90af88edb928ab) + +# The NSCC 2021 002 + +The 002 changes having enough liquidity at the end of the month into a "intraday" thing, or in smoothbrain, you better have the money on your bank account 24/7 because if daddy checks and you aint got his money, daddy gon be mad. + +They can start checking every day, and check it multiple times even if they so choose to, instead of just the end of the month. + +The 002 will be filed today on 21-06-2021, but could take up to 10 business days to be implemented, meaning that even if it gets filed today they can say "yeah it's active now" but they could also let it sit there for days before activating it. + +[https://www.sec.gov/rules/sro/nscc/2021/34-91788.pdf](https://www.sec.gov/rules/sro/nscc/2021/34-91788.pdf) + +# Wen new CEO + +Also before we forget, today is the date that the new CEO steps in! + +Good luck mr. Furlong! + +# Annihilationgod's data + +Now I love pure data because once you have "all the data" you can see so much more, AG is one of those guys who has a certain eye for data details, He's made two threads, one with data the other with a question for help + +[AnnihilationGod presents: The Big Short Data Collection for Everyone](https://www.reddit.com/r/Superstonk/comments/o3e9kg/annihilationgod_presents_the_big_short_data/?utm_source=share&utm_medium=ios_app&utm_name=iossmf) + +[DATAGod Part 2 - A task for apes!](https://www.reddit.com/r/Superstonk/comments/o4iy9f/datagod_part_2_a_task_for_apes/) + +let's just say there is some weird stuff going on just by data alone + +[Overstock's graph](https://preview.redd.it/t55gv2i4sk671.png?width=5166&format=png&auto=webp&s=4f667955247ef8c596d50044783bc11eaf0112ff) + +&#x200B; + +[Gamestonk](https://preview.redd.it/674s7hb6sk671.png?width=4932&format=png&auto=webp&s=224539892efddd747b7e46d80fba71b7969093dc) + +&#x200B; + +https://preview.redd.it/lc6rgbxjsk671.png?width=554&format=png&auto=webp&s=068a027c335408b396c10b9d019aac30d0c0c7f1 + +# EXCELLENT! + +Be friendly, help others! + +as always we are here from all different walks of life and all different countries. + +This doesn't matter as we are all apes in here, and apes are friends. + +Doesn't matter if you're a silverback a chimp or a bonobo. + +We help each other, we care for each other. + +**Ape don't fight ape, apes help other apes** + +this helps us weed out the shills really fast, as if everyone is helpful, the ones who aren't stand out. + +remember the fundamentals of this company are great, so for the love of god if someone starts with trying to spread FUD, remind yourself of the fundamentals. + +There is no sense of urgency, this will come when it comes, be a week, be it a month be it six. + +We don't care, just be nice and lets make this community as Excellent as we can! + +Remember one of the only ways to counter the Cointelpro we have seen is by being overly nice, so treat all the other apes as if you're dating and you wanna get to first base. + +&#x200B; + +https://preview.redd.it/cck8rp6msk671.png?width=400&format=png&auto=webp&s=592c2a08328d6e594548f24991fde8b28aa62ebe + +remember none of this is financial advice, I'm so retarded I'm not allowed to go to the zoo 'cause they'll put me in the cage with the rest of my ape brothers. + +If anything happens throughout the day we will be adding it here. + +backups: + +[https://twitter.com/rensole](https://twitter.com/rensole) + +[https://twitter.com/PinkCatsOnAcid](https://twitter.com/PinkCatsOnAcid) + +[https://twitter.com/RedChessQueen99](https://twitter.com/RedChessQueen99) + +[https://twitter.com/ByeTriangle](https://twitter.com/ByeTriangle) + +[https://twitter.com/u\_sharkbaitlol](https://twitter.com/u_sharkbaitlol) + +[https://twitter.com/BradduckF](https://twitter.com/BradduckF) + +&#x200B; + +# Brigading + +apparently this has become an issue I've only just been made aware of, it seems some moderators of other subreddits have the feeling we are condoning brigading. + +Brigading can be seen as a lot of things, one of which is downvote brigading (downvoting everything that you don't like as a group), another one is going in there with the intent of "stirring shit up", neither are condoned by us (the moderators of superstonk) or any sub. + +if you want to take part in another subreddit make sure you adhere to their culture and their rules. + +One of the communities I've seen complaining about this is r/wallstreetbets, also with statements like "the moderators condone this behaviour" (as per post of u/zjz), so Zjz let me say it here so that it's clear for both subs, we don't condone brigading. + +I do feel that seeing posts pop up all over the boards,members of r/investing r/stocks and others have received these messages (asking to write DD on random stocks) and thereby people trying to get exposure for a certain stock, and putting "squeeze" in every DD is far from good, and I believe that unless they are a stock specific sub it's hard to circumvent this, yet it does breed the idea that there are a lot of "shills"/"Bots" out there right now, and not just in one single sub but in a lot of them. + +However that being said I do personally believe ZJZ and other mods of r/wallstreetbets are doing their best in trying to get their subreddit back to the way it was, and I hope they succeed because it used to be a very off the cuff place and now with a lot of new participants it feels different for me (and I was just a lurker for the longest time). + +So u/zjz or u/fannypackphantom, if you guys have any trouble with members from our sub please let us know and we'll try to help as best we can. + +&#x200B; + +Edit: + +&#x200B; + +https://preview.redd.it/70x0ji8fyl671.png?width=1125&format=png&auto=webp&s=8249f94f3aef1dc8662980398c7697506e7c182e + +Mr. Furlong is now CEO and Sherman is out effective immediately +UPDATE: couldnt come to terms on the price, and the city was being extemely wishy washy on my ability to get permits around wells and spetic so I decided to hold off for another deal/town + +&#x200B; + +&#x200B; + +Edit: Thanks everyone for the constructive feedback. I have added a few due diligence calls to my research plan. I will post an update if/when I end up acquiring the land! + +&#x200B; + +&#x200B; + +&#x200B; + +Tear my idea apart if you wouldn't mind... + +50 Acres of wooded land with utilities running up to the property edge and a large river running along the boundary. There is an asphalt road that has been run (off a major city road that is maintained) from one edge of the property to the other. There are currently 7 obvious places on the property to build cabins that are out of the flood zone on flat ground where a gravel driveway can be easily run up to them from the main road. I have already called the city zoning office and confirmed it is acceptable to get it zoned as needed for this idea, and the utility company confirmed I am also all good to get them to run what I need to the property edge so I can do the rest myself. + +The numbers (These are assuming I do the majority of work myself) + +**Land** \- 225k (There is a 2 acre chunk that is useless that I will sell off to home owners that have properties backing up to it hopefully for like 25k) + +**Utilities**:**Electric**: 15k to run electric from the main grid to each future cabin site (would only make one site live so I can begin building. + +**Water**: 5k per well for each property + +**Septic**: 5k per cabin + +**Cabin**: I can build the first cabin for around 15-25k and have a fully functioning cabin with bathroom/kitchen and then will make them bigger/nicer and invest around 30k/ once I have proved out the idea + +&#x200B; + +There is nothing else like this easily available for rent within an hour of my mid-size midwest city and looking at Airbnb/VRBO Comps I should be able to rent it out 180 days a year for $150 giving me 27k in cashflow a year to payoff the cabin after 18 months and then begin fully covering the land mortgage within 24 months of closing. + +I am not trying to become a millionaire off this investment as it will mostly be for fun and would be nice to break even on this vacation property investment, but if I can build 5 cabins all bringing in 25k/year suddenly life is pretty good and my retirement home will build itself after like 15 years(and I won't have to build it myself, haha)? + +Anyone ever try this before? I would be going for super instagrammable cabins as well because it would make marketing easier..... + +Also it will be 15 minutes from a college that has around 5k students... +I keep hearing that if you want to get very rich and create substantial wealth then investing directly in stocks is the best way to achieve it. Investing in the equity mutual funds via SIP over a long period will help you earn decent returns and may make you rich but not as much as directly investing in stocks. I would like to clarify that as far as equities are concerned am invested in them via Mutual funds only. +So what do you guys think? Can people become rich or create substantial wealth just by investing in Mutual funds? We have many examples of people who have made it big in life by investing in direct stocks but does anyone have examples of people who made it big by investing only in mutual funds. +I may be moving to live with my german girlfriend, and wonder how the tax there works. + +I am currently trading dollars for dollars (stablecoins) and they wont be worth more in the future, so i wonder how much tax i would pay over that. I switch between two different stablecoins and this gives me tiny percentages of profit. + +I also make money in crypto with liquidity providing, and most of that reward is an inflationary token that's distributed every second and can be claimed at any moment. (costs around 25c to claim) i sell that token every few days for stablecoins. + +How would this all be taxed in germany? + +I have found other posts about cryptocurrency and taxes, but there's so many different situations in crypto that go against everything traditional finance has build, its like every situation is unique. +**Before You Read:** This is part of an ongoing series on the basics of options trading and valuation, focusing on stock options. This is the second post in the series. You do not need to read the first part for this part to make sense, but if you are not familiar with the concept of equity, you may find it helpful. + +The first post, which goes over the concept of equity, can be found here: + +[https://www.reddit.com/r/investing/comments/fdx8tw/options\_basics\_what\_is\_equity\_and\_why\_should\_i/](https://www.reddit.com/r/investing/comments/fdx8tw/options_basics_what_is_equity_and_why_should_i/) + +This post will explain what put and call options are. From there, it will delve into our first valuation and trading concept, which has to do with volatility as the title suggests. There is an opportunity to apply your knowledge at the end. + +This is a bit of a long post because it introduces a lot of new concepts. I will try to make subsequent posts shorter. I suggest taking a break and coming back to this post later if you start to get tired or confused. You can take this in bites, so no need to swallow it like a snake. + +**Puts and Calls** + +**A put is the right, but not the obligation, to sell an asset for a specific price.** The asset the put holder has a right to sell is called the **“underlying.”** The price at which the put option allows the option holder to sell is called the **“strike.”** Put options have an **expiration date**, after which they cannot be exercised, which is to say you owner of the put option can no longer invoke their right to sell after the option has expired. Now, let’s put it all together into once sentence: **When a person trades a put option, they are trading the right to sell the underlying at the strike price, subject to the eventual expiration.** + +That sounds great, but how could the right to sell something at a certain price be valuable? At this point, you need to have a notion of what “market price” means. Let’s review for a moment before we dive in, using stocks as an example. When you trade a stock, you buy or sell that stock based on an agreed upon price. Traders can bid (offer to purchase) or “ask” (offer to sell) a stock at any price, but only when one trader’s bid to buy is higher than another trader’s ask to sell does a trade actually occur. That point of overlap is called the “market price.” In reality, the bid involved will end up being slightly higher than the ask, and a series of financial institutions ultimately make their money by pocketing the difference, but for our purposes, we’ll say that the market price is just where bids and asks collide. For our purposes, we may also refer to the market price as the “spot price” for now. Either term is fine for the moment. + +**Puts have value because the strike price of a put may be different than the market price of the underlying.** For example, if you own a put with a strike of $5, and the underlying has a market price of $3, you have the right to buy the underlying for $3, and then turn around and exercise that put to sell the underlying to collect $5, ultimately making $2 of profit. That $2 is called the “intrinsic value” of the put option. **The intrinsic value of an option is how much you could theoretically profit at a given moment if you exercise it.** + +Here is another way to look at intrinsic value: at the very moment when the option is just about to expire, and there is not enough time for the underlying price to change before expiration, the option would be worth $2. In other words, the option holder could theoretically sell their option and collect $2 instead of exercising it. Why an option holder might choose to sell rather than exercise an option will become clear as you read this series. What it comes down to is that the amount you can sell an option for may be greater than the amount you could stand to profit by exercising it. In other words, **an option may be worth more than its intrinsic value except at the exact moment of expiration**; just how is discussed later in this post. + +For now though, it’s alright to be content with the notion that put options have value and that an option holder may choose to sell a put option rather than exercise it. Remember, the definition; a put is “the right, but *not* the obligation” to sell. + +Now, let’s define call options, using what we have learned about puts: **A call option is the right, but not the obligation to buy (not sell) an underlying asset at a strike price, subject to expiration.** It should come as little surprise that call options also have value for reasons similar to put options. See for yourself. **Question 1:** if you had a call option with a strike of $5, and the underlying had a market price of $10, how much could you profit by exercising your call option to buy the underlying and then turning around and selling the underlying on the market? I’ll put the answer at the end of this post. + +**Remember, calls let you buy at the strike. Puts let you sell at the strike.** + +Like put options, call options can be traded, their intrinsic value is based on the difference between the strike price and the market price of the underlying, and they may be worth more than their intrinsic value except at the moment they expire. + +Let’s recap: puts are a right to sell, and calls are a right to buy. One good way to remember it is to imagine the underlying were a dog; if you call the dog, it will come to you. Puts and calls can both be exercised or traded. The option holder gets to decide if they want to exercise or trade, but the option can’t be exercised after it expires. Depending on the price of the underlying, exercising can lead to profits, and that possibility is why options have value. + +We will now go over what can cause an option to trade for more than its intrinsic value. There are a few variables that can affect options valuation. We have mentioned two so far; 1) the strike price of the option and 2) the market price of the underlying. Volatility is the first one we will go over (later in this post) because it is the easiest to understand given only the strike and the spot. In future posts, we will go over the role of the time left until expiration and the role of prevailing interest rates; specifically something called the “riskless rate,” or “rf” for short. There are other variables that can be incorporated into options pricing models, but we will not address them until we have gone over at least two models that deal with these first five. + +To be clear, we are building up to being able to use 2 models that both incorporate five key variables, and you’ll be able to use 3 of the variables a simplified version of one of the two models by the end of this post. The key variables are, as previously stated: + +1. The strike of the option, which we will call “K” + +2. The market price of the underlying, which we will call “S.” S stands for “spot,” which for now we will just say is another name for the market price. + +3. The volatility of the spot price + +4. The time left until the option expires + +5. The “riskless rate” briefly mentioned above + +K and S determine intrinsic value. The other variables deal more with what we call “time value.” + +**Intrinsic Value versus Time Value** + +Let’s consider a call option with a strike of $8 (K=$8). Let’s say the market price or spot price is $9 (S = $9). If you were to exercise at that moment, you would make exactly $1 in profit (intrinsic value = $1 because $9 - $8 = $1). This uses the same logic we went over above. If you don’t get it, try doing Question 1, asking for help in the comments, or DMing me. + +But what if we knew that the price of the underlying (S) could change? For simplicity’s sake, we’ll assume for now that S can change exactly once before expiration. We’ll also assume that, when S does change, it will change to either $6 (go down by $3) or $12 (go up by $3), and there is a 50% chance of each of those possible changes happening. Finally, we’ll assume that the change is about to occur this instant, so no time will pass before the single change, and the change will happen instantly. This is a lot to assume, but the assumptions will become less ridiculous as we are variables to our model. + +If S goes to $12, intrinsic value would become $4 because $12 - $8 = $4. If S goes down to $6, the call is worth $0. Why is it not worth $-2? Remember, a call option is the right, but **not the obligation** to buy the underlying at the strike, so the option holder does not need to buy the underlying for $8 when the spot price is at $6; they can just decide not to exercise the option and let it expire worthless. + +Let’s recap: There is a 50% change the option will be worth $4 at expiration and a 50% chance it will be worth $0 at expiration. The option has $1 of intrinsic value right now. It also has what practitioners call “time value,” which is the value of the chance of the option having intrinsic value later. This time value is not to be confused with “the time value of money” which is a different concept. + +Let’s see how much time value this option has, starting with the single most important fact about option valuation: **The total value of an option is a function of its probability weighted future payoffs.** In this case, to find that total value, you multiply the value of each outcome by the likelihood it will happen. 50%\*$4 + 50%\*$0 = $2, so the total value of the option is $2. Subtract the intrinsic value of $1 from the total value, and you get $1 of time value. + +Before we do another example, this time with a put option, let’s quickly examine why it is worth breaking out the value of an option into intrinsic value versus time value. As I implied, **total option value = time value + intrinsic value**, and intrinsic value is S-K (spot – strike) for a call option and K-S (strike – spot) for a put option. You may recall I said that the one time an option’s total value is equal to its intrinsic value is at the moment of expiration because the underlying spot price has no time left to change. The implication here is that if total value approximates intrinsic value as the option nears expiration, then time value ultimately decreases to $0. Describing mathematically how the time value changes over time and eventually gets to $0 will require all five variables in either of our models – so that’s something to look forward to. For now, just be aware that this feature of options valuation exists. + +Let’s take the simplified model we have already used to value a call and apply it to value a put option. I’m going to start using the variables without restating what they mean at this point. You will want to be comfortable with them by the time we get to a full model. + +Consider this put: K=7. S=10. The spot can either become $3 or $17 using the same assumptions about changes in the spot that we made for the call option valuation above. Let’s check out the total valuation first. If the price goes down to $3, it will be $4 below K, so intrinsic value would be $4. If the price of the stock goes up to $17, the intrinsic value of the option would be $0 because $17>$7. Now, let’s add it up: 50%\*$4 + 50%\*$0 = $2, so the option is worth $2. How much of that is intrinsic value? Well, S>K to start with, so the option starts with no intrinsic value. Therefore, all $2 are from time value. + +A little more terminology before we continue. **The relationship between a strike price and a spot price is called “moneyness.”** Remember how intrinsic value was $0 when the strike was below the spot for a put or above the spot for a call? **Intrinsic value cannot be negative, but moneyness can**. So a call with S = $3 and K = $5 would have a moneyness of $-2. If moneyness is positive, an option is said to be “in the money” or “ITM.” If you’re familiar with the musical *42nd Street*, you can remember this because being in the money is a very good thing. If moneyness is negative, the option is “out of the money” + or “OTM.” If moneyness is exactly $0, the option is “at the money” or “ATM.” This terminology will come in handy later when we start talking about actual trades. Let’s test our knowledge so far: + +**Question 2:** An option has a moneyness of $-2 and S>K. Is it a call or a put? Answer shown at end of post. Can the option still be worth more than $0? How much of that value would be intrinsic value versus time value? + +The relationship between moneyness and intrinsic value results in a special relationship between total option value and the spot price of the underlying. + +Thank you for staying with me so far by the way. I know this is a lot. + +**Volatility and Option Value** + +You may have already noticed that an option’s intrinsic value can be expressed as a function of moneyness. Namely, if moneyness is at least 0, then intrinsic value = moneyness. This idea is powerful because it applies to both puts and calls. + +Now consider that if moneyness is not greater than 0, intrinsic value does not change as moneyness decreases further because it just stays at 0. In other words, whether moneyness is -3 or -10,000, intrinsic value is 0. However, if moneyness is at least 0, then as moneyness increases, intrinsic value increases as we stated before. If we put these two ideas together, we see that **the relationship between moneyness and intrinsic value is asymmetrical around 0. In other words, options have an asymmetric payoff function.** + +Now let’s think of this in terms of volatility: all else being equal, a more volatile underlying asset price has more potential to cause an option to expire further in the money or further out of the money. Another way of saying this is that greater volatility leads to a greater chance of a higher absolute value of moneyness at expiration. Since intrinsic value can’t get any lower once it hits 0, higher volatility can raise the maximum intrinsic value an option can have at expiration up to infinity, but cannot lower the minimum intrinsic value below 0. So, under the model we have been using, if an option can already end up with $0 of intrinsic value, volatility can only help option value, not hurt it, from there. Later, when we get to the Black Scholes model, we will see that volatility is virtually always is accretive to total option value, but for now we will stick to easy examples where options have a high potential to expire OTM. + +For the purposes of an example, we’ll introduce one new term; σ (pronounced “sigma”). σ a parameter used to express volatility. Some readers may notice that σ is used to denote standard deviation in statistics. The idea is similar here. For this model, σ will denote the amount by which S can move up or down during the single change that occurs before option expiration. So if S is 0 to start with and can move to 4 or -4, then σ = 4. **Later on, we will express σ as a %, indicating a rate of change, but we are keeping it simple for now.** + +Consider a call option with the following parameters using the model we have been using so far: K=25, S=20, σ=10. We know S can end up being either 30 (20+10) or 10 (20-10), which means the intrinsic value of the call will be either 5 (30-25) or 0 (because 10<25), which means that value of the option now is 2.5. + +Now let’s try decreasing sigma to 7. Now S can now be either 27 or 13 at expiration, which means intrinsic value is going to end up being either 2 or 0, which means the option’s value is 1. Notice how lowering σ decreased total option value. + +Now, let’s increase sigma dramatically to 15. S at expiration will either be 35 or 5, so intrinsic value at expiration with either be 10 or 0, which means the total value of the call option is 5. + +Feel free to try this with as many puts and calls as you want. You will observe that as long as the option isn’t so far in the money that S-σ>K for a call or S+ σ<K for a put, an increase in σ can never decrease option value, and as long as S has the potential to change such that the option may expire OTM or ATM, an increase in volatility will always increase total option value. + +**Congratulations: you now understand the basic idea of how options prices relate to the volatility of the underlying asset, and you can express it using a simple options pricing model. (It’s a simplified version of the “binomial model” for readers that want to put a name on it.)** + +You may be wondering how markets determine volatility in the first place. When options trade on the market, the value that the options trade for can be used to determine the σ implied by the trade. For example, if we are using the model we’ve used above, a call option worth $3 where S starts at $5 and K is $4, must have an implied σ of $5. No other σ would produce that total option value. + +In the real world, the implied level of volatility is typically expressed as a % and refers to the standard deviation of the change in S over the course of a year. The model used to calculate implied volatility is typically the Black Scholes model, which we can easily learn once we are able to use all 5 variables in the binomial model. The implied value of σ given an option’s price based on the Black Scholes model is called Implied Volatility or “IV”. We will deal with IV more later. For now, just think of it as the market’s best guess at σ. + +The idea of IV does, however, bring up something we can use now; the IV of an option trading on the market is an estimation collectively arrived at by traders. **IV does not necessarily represent how much S will actually change because the market cannot psychically tell the future.** In other words, the market tries to calculate an appropriate value for σ, but often comes up with something that isn’t subsequently reflected in the actual behavior of the underlying. They get it “wrong,” in a way, and if you watch an option for a while, you’ll observe IV constantly changing. + +There is a way to try to make money from this theory: **If you think σ based on the actual future behavior of the stock will be too high or too low to justify the value at which an option currently trades, you may have a trading opportunity.** + +In that light, let’s do our first imaginary trade. To up the ante, **I’ll give gold to the first person who gets this right and posts the answer in the comments:** Let’s say you think the σ of an asset is going to be $10 based on the model we have used in the previous examples. You look at the option chain (the list of options available on the asset), and you see the options below. You decide you are going to buy one option. Which do you buy, and why? + +S = $25 + +**Calls** + +K = $35 Price = $1.00 + +K = $30 Price = $2.50 + +K = $25 Price = $3.50 + +K = $20 Price = $5.00 + +**Puts** + +K = $30 Price = $3.50 + +K= $25 Price = $2.00 + +K = $20 Price = $1 + +K = $15 Price = $0.5 + +***Supplemental:*** + +***Bid Ask Spread:*** *The difference between the highest bid (offer to buy something) and the lowest ask (offer to sell something) is called the “bid ask spread.” The smaller the bid ask spread is, the more trades usually occur because small spreads imply there is less of a disagreement, measurable in price, between buyers and sellers. This small disagreement means only a small change in the bid or the ask is necessary to make a trade happen.* + +***To Whom Do You Buy or Sell When You Exercise an Option?*** *Ultimately, financial responsibility will fall on the person who wrote (originated or originally sold) the option, but your broker and a group called a “clearing house” are the ones who ensure that a transaction actually occurs when you exercise your option. The important thing to remember is that you do not take counter party risk from the person who wrote the option. That is to say, the person who wrote the option can’t simply refuse to honor their agreement and cheat you. If they try, you’ll still get to profit (to the extent appropriate) when you exercise your option because of the clearing house. The writer becomes their broker’s problem (and eventually law enforcement’s problem) – not yours. Keep an eye out for a post about “assignment” or look up “assignment and clearing houses,” for further reading.* + +***Answers to Practice Questions*** + +***Question 1: $5.You exercise to buy for $5, and then you sell in the market for $10.*** + +***Question 2: It’s a put, and it can be worth more than $0 if it has any time value. It has no intrinsic value.*** +I need some advice. A distant family member inherited a 4,000 sqft 3-unit multifamily in Brooklyn NY years/decades ago and I was just made aware of this. She has been thinking of selling. It's been mismanaged to put it lightly. Someone has offered her 1 million a few years ago but it is worth probably 2.5/3mil. It is dated but still is a great property just needs updating in every unit. She was first strongly against the 1 mil but is now contemplating it. Which blows my mind! + +I am very much into real estate investing if I had 1 million laying around I would pay cash without second-guessing. But with a smaller portfolio in an MCOL market, my portfolio is just over a million. But I am not in the position to buy this with a standard mortgage and DP of 20%. And I have no idea where to start in terms of getting creative with financing or how to approach this. I don't think she would give it away but I need some ideas on approaching this from a financing standpoint. It would take me about 1.5 years to afford the 20% downpayment if I went that route. Not sure she would want to wait that long. Any idea on financing options for this? I'd only be willing to sell one property in my portfolio but it would net about 60k. I am in the middle of renovations so it's not the ideal time financially for me in terms of how much savings I have available. Looking for real advice. It's an amazing opportunity so I don't want to pass. +I'm looking to see what are some of the Highest paying dividends ETF's out there but that are actually QUALIFIED! + +I've got a good handful of Non Qualified ETF's but now wanting to only invest with just qualified payouts. + +Not trying to chase high yield funds but want good quality funds that will return higher dividends. + +Would love hearing from everyone on what you are buying that are paying qualified payouts. + +Looking forward to your comments! +Like many others, I was hit by the "bystander effect", betting everyone else would get the job done. The Citashills putting in max effort to make as few people transfer, or only transfer a small amount, in combination with Ken Griffen rage tweeting, it's clear DRS is our move. + +I called TDA, very quick 1-minute phone call. I said I wanted to transfer my shares to Computershare, the lady said she would email me a form I need to fill out and mail to them. Because there's an ink signature, I have to actually MAIL it. Okay, fine. 500 shares coming Kenny boi. + +EDIT: 3:43pm ET - Apes are saying TDA can do it over the phone and I don't need to snail mail it. Looking into it. +Reading this sub, it is pretty easy to see all the great things that generating wealth can do for you. Better houses, cars, vacations etc.. But I think sometimes the sacrifices to get there or the general negatives of having piles of money escape these discussions. So to reiterate, what have been your negatives, and would you have done anything differently in order to avoid them? +My mom and her boyfriend left and took their stuff while I was at work today and our home is paid every month so I'm going to be kicked out on July 1. I don't know what to do. My mom used to be fine, but my dad killed himself 6 years ago. My mom didn't work but said that the Army was sending money because my dad was in Iraq. My mom started doing drugs and dating a guy who sells drugs. He beat me up sometimes and stole my stuff a lot, and he tried to take money out of my wallet yesterday when he was on drugs, and I stopped him and hit him back. Then he and my mom got in a fight and now they're both gone. What can I do? I'm going to be a senior next year and I don't want to leave my school. Can I get the Army to send me the money that they were sending my mom? Please help. Thank you. + +Update: Thanks everyone for the advice. I called my friend and his mom said that I can stay there as long as I need to, that's a huge relief. For people asking about where I am, I live in Camden New Jersey, and I am a boy. Also, we don't own a house. My mom had been renting a trailer for us. I was worried because I know that people have gotten locked out of their trailers for not paying and I thought that they would do that if I couldn't pay. Thank you all for your help. + +And I haven't heard from my mom, but she and her boyfriend took all of their stuff including the mattress out of the bedroom and the thing she kept her clothes and stuff in, so I know they just left, but I don't know where they went. + +Update again: Wow I don't know what to say. Thank you to everyone for all of your advice and offers to help. I am at a friend's house, I think I'm going to stay here for at least a little while. My friend's mom said I can stay as long as I need to and I cried and then she cried. I feel so much better, just a few hours ago I was really afraid and didn't know what I was going to do and now I feel like I am going to be OK. Thank you all so much. + +I don't know what I'm going to do about my mom yet, but I will update again if I figure that out. +My belief is that tomorrow there will be an announcement that will drive $GME up. + +Jordan Holberg, Blockchain Engineer at Gamestop [tweeted](https://twitter.com/eviljordan/status/1447367629002326024) a photo of a pregnant "person" ready to give birth with the headline : "It me" ; meaning "Time" - implying "it is time" for whatever project he was working on + +9 months from 1/27 when $GME squeezed to $347 is tomorrow 10/27 . + +Ryan Cohen's latest tweet, paired with the [Wu Tang Clan Theory](https://www.reddit.com/r/Superstonk/comments/qg4bm4/if_my_calculations_are_correct_we_should_be/?utm_source=share&utm_medium=ios_app&utm_name=iossmf) makes me firmly believe that a special announcement will be made tomorrow. + +Not financial advice. +So this Chinese construction firm thats touted as a potential "china's lehman brothers" is supposed to make a bond interest payment of 83Millies next week sept 23. + +If they miss this payment well im just not sure how to profit from this event. There could be some systemic risk / contagion in the APAC financial markets (not commodities)... + +Im thinking long PMGOLD, NCM. Short CBA? +Looking to put up 20% to the most reasonable one. +&nbsp; + +But please do not tell me that your coin/token is anything worth while when only thing going for your coin/token is a concept. +&nbsp; + +Tell me why it's unique, it has a bright future, and how much % you invest in it! +&nbsp; + +EDIT: rip inbox +I see no point in leaving money sitting on a savings account or some money market fund fund when it could be earning real interest. Can someone tell me what i’m missing? + +Liquidity wise, it takes less than 1 week to close a position and transfer from my brokerage to my bank account. + +Regarding volatility, yes I could be selling on a bear market. But for anyone that’s in long-term, as long as you don’t zero out (i.e. total market breakdown), it doesn’t matter and having your rainy day funds invested would get you better return. + +Currently, all my savings go into a brokerage account. I keep an eye on my credit card debts and make sure I have enough on the bank to cover for that. Anything above that gets invested +Just a quick reminder with winter breaks coming to an end! My wife is a teacher and is required to have Microsoft Office on her laptop. We bought her a new laptop at the beginning of the school year and, while at Best Buy, the salesman was telling us that the only way to get Office was through the yearly subscription. I thought that didn’t sound right, so I decided to do some digging. Sure enough, if you go to https://www.microsoft.com/en-us/education/products/office and have a valid school email address you can get Microsoft Office free, for the duration of your schooling or teaching career! + +Hope this helps all the teachers and students out there! +**TA;CR: Ape always ask ‘Wen Moon’, but not ‘How Moon?’ This is the way to ‘How Moon’.** + +The financial media’s criticism of Gamestop for the past year and a half was the lack of direction and forward statements from the company outlining a path to profitability. The developments from the company show that it is well on the way to addressing a share of a digital gaming assets and collectibles market worth well over $400 billion with a double digit industry CAGR. In other words, the NFT marketplace is positioned under a ton of rocket fuel, and Gamestop is one of the first movers in this space. The bear thesis is heavily reliant on Gamestop being left behind as gaming turns digital. This bull thesis is predicated on Gamestop becoming the next destination for all things gaming and collectible. + +In this DD, I will be examining the rise and fall of Gamestop, which forms the bear thesis. I will then rend and tear the bear thesis brick by brick using verifiable, factual information from official statements, channel partners, market research, and the company reports. Don’t trust me, read it for yourself and make your own decisions because it’s your money, your investment, and you are the only one responsible for the soundness of your investment. I am too retarded to give financial advice and like the stock. I believe that hype can only move a stock price so far, the company needs fundamentals to stand on in order to bring long term value. Today, I present those fundamentals. Buckle up. + +**Part I, The Rise and Fall of Gamestop** + +Once upon a time in 1984, two dudes from Harvard opened up a video game retailer named after an ancient computer nerd, Babbage’s. It became a major player in the sale of video game cartridges in the United States, providing market data like this chart here from 1994: + +&#x200B; + +[From EGM 68](https://preview.redd.it/4t980cqptnk91.jpg?width=1844&format=pjpg&auto=webp&s=3831a176129bffd741af9ffec971639d401dd29c) + +Through a series of sales and mergers, it became the Gamestop we know today. In the cartridge and disc era of gaming (from 8 bit consoles up to the Wii), Babbage’s became a major retailer that saw up to 75% of sales coming from video games. It would later acquire rival retailer Electronics Boutique in 2005 and consolidated the brand under Gamestop worldwide in 2021. Games were bought, sold, rented, and resold as physical media: + +&#x200B; + +[Before the internet, you had to talk to strangers!](https://preview.redd.it/iw741i7ttnk91.jpg?width=1389&format=pjpg&auto=webp&s=c9488e6972d01cff6d39e467d7e47e7615eb631a) + +Digital distribution was still in its infancy from the 1990s, with shareware software titles barely making a dent in the gaming industry market share compared to console sales. This also gave Gamestop, the largest video game retailer, some marketing clout with midnight launches and preorders of consoles and games, which may be sold out for weeks after the initial launch. Digital launches of games have made the midnight launch events for software a relic of the past. Console hardware shortages are still a problem down to this day. However, the profit on consoles are slim with single digit percentage margins. During Gamestop’s best years, 2005-2009, sales of used games and gaming accessories brought in billions of dollars for the company, with used game sales being the high margin cash cow. + +This report: [https://www.gamedeveloper.com/pc/analysis-gamestop-profit-margin-on-used-almost-50-](https://www.gamedeveloper.com/pc/analysis-gamestop-profit-margin-on-used-almost-50-) + +gives us a snapshot of Gamestop’s revenue streams during its best years. The margins were high for Gamestop because the used game business model was notorious for its poor value proposition to customers, which saw low values for trade-ins (slightly lower if you were a rewards member and got Game Informer) and used games selling for almost the same price as new games. Since few places offered trades for games, Gamestop min-maxed their business model by giving customers the lowest value possible and maximizing profits by selling used games for only a few dollars below new games. Turnaround on titles like EA Sports Roster: Shovelware Edition (we buy: $4, we sell: $55 used, $60 new) brought in big bucks. More importantly, the game developers never saw a dime from the resale of used games. It all went to Gamestop. This is a key point of contention, one that ultimately fueled the bear thesis for Gamestop, the migration of games to digital distribution, and the removal of disc drives from consoles. + +Customers were angry at Gamestop for a poor customer experience when buying and selling games. Developers / publishers were angry at the used game market undercutting their sales. When internet speeds around the world improved to the point where video could be streamed and digital storefronts like the Epic Games Store, Steam, and GOG became more attractive options for both customers and developers, it left Gamestop and its 2 billion used copies of Fallout 76 in the dust (just kidding, they were new). Many customers no longer had the need to go to Gamestop and preorder a game, especially when the larger developers like EA and Blizzard had their own digital storefronts, where disappointments like Warcraft 3: Reforged would hide behind a thin veneer of marketing instead of occupying an entire warehouse full of physical disc returns. When consoles started shipping without physical disc drives, this was just another nail in the coffin for Gamestop’s outdated business model. Then, in 2020, a global pandemic with an unknown virus and no known cure at the time drove fear to an all-time high and lowered all foot traffic to stores as one place after another instituted lockdowns. The Gamestop management at this time forced stores to stay open, getting a ton of bad press. In the middle of all this misery was a rainbow colored bear, happy to profit off the impending bankruptcy of one of the most hated and irrelevant companies now on its death throes. The fabulous bear would call out to many hedgies and have them short the stock to the point where it was cellar boxed, never close or disclose their positions, many of them sold naked, and to never pay tax on their ill-begotten gains. Here is the bear’s thesis: + +**1)** **Gamestop is a dying brick and mortar company with an outdated business model** + +**2)** **The transition to digital distribution will reduce revenue across all its stores and make Gamestop increasingly irrelevant in the market that it operates and remove its major driver of profits, used physical copies of games** + +**3)** **The last major pandemic lasted 3 years, at which point the lockdowns will have long bankrupted Gamestop, which was severely handicapped under an existing loan agreement and lacking funds to execute any kind of turnaround plan** + +**4)** **Gamestop is hated by customers, developers, and employees alike. Everyone wants to see this ship burn and sink.** + +Fabulous Bear: Sounds like easy money, doesn’t it? To minimize risk, Gamestop and other brick and mortar companies like it, were put into massive basket swaps that bet on many or all of these companies going to zero. Some firms may have shorted the stock like crazy by a variety of means because these companies are already on shaky ground and cannot secure the funding they need to defend themselves, because the same firms control the funding sources. It’s as easy as taking money from a retarded ape. The only way this plan could go tits up is if somehow, some way, a massive amount of retail investors don’t give in to fear, change sentiment on the company and refuse to sell, allowing the company to fund itself out of bankruptcy using the sale of its own stock like a car crash victim flipping over a burning car by brute force and then putting out the fire with its own piss. But that’s a viral black swan event that has never happened before in the history of stocks, so why worry, right? Retail traders will just take their lumps, sell, and move on, wiser and poorer like they always do, amirite? Amirite?! + +Narrator: The bear was not right. Ladies, gentlemen, degenerates, and apes, we have entered the other side of the trade we were never supposed to see. But first, a message from Little Johnny, the 12 year old gamer who goes to Gamestop. + +**Part II – The Liquidity Problem** + +It is 2009. Meet Little Johnny, a 12 year old American boy with no job, no income outside of household chores, shoveling snow, or selling lemonade. Oh, and birthdays and Christmases. Johnny has a Playstation 3 (2007 was the best Christmas ever) and a small library of games. Johnny has beaten all of those games and he’s bored of them. Johnny’s only source of new games are birthdays and Christmases, but 2008 was hard on everyone, and instead of a new Wii, he got a copy of Lee Carvallo’s Putting Challenge. Uncharted 2 came out, and he wants to play it. Badly. His parents say no, he has enough games already. Well, how about he trades them in at Gamestop for a copy of Uncharted 2? The parents are spared from paying anything, so the next time at the mall, Little Johnny trades in his pile of used games for a slightly used, but very playable, copy of his next game. Little Johnny is an asset provider, and hundreds of thousands of gamers like him once made up the asset pool of used games, which Gamestop arbitraged to maximum advantage to reap billions in profit. Not one cent goes to the developers. Keep this core concept in mind, that the customer is the asset provider, Gamestop is the platform to execute the trade, and the game developer is the one who mints the game’s asset supply, because this is the basis of Gamestop’s NFT marketplace. In 2009, this trading relationship was flawed. The asset provider, Johnny, and the supply minter, the developer, suffered under the massive arbitrage of Gamestop’s trading platform. + +Remember the landing page for Gamestop NFT? It read: Power to the Players. Power to the Creators. Power to the Collectors. We are going to look at how this new mantra benefits limited asset providers like Little Johnny later. + +We now return to breaking the bear thesis, brick by brick: + +**Part III – The Technology Company** + +Bear Thesis: Gamestop is a dying brick and mortar company with an outdated business model + +Bull Thesis: Gamestop is evolving to a technology company with a modernized business model utilizing an NFT marketplace to tap into web3 and mobile gaming opportunities as the new, dominant revenue stream. It has increased profitability by closing down unprofitable stores upon expiry of leases and investing in logistic centers to cover the gaps in service as part of their e-commerce expansion. + +The key to any transformation is understanding the core processes of the business and the needs of the customer. Netflix saw itself as an entertainment provider and transitioned from a mail order DVD rental service to a streaming platform. I believe that Gamestop sees its role as a trading platform for gamers and collectors and has taken material steps to ensure that its role as a platform will be secured in the future – by making right with the customer and the developers. This will be the fundamental change that will break the bear’s back. + +To succeed, according to the Gamestop chairman: “Gamestop needs to evolve into a technology company that delights gamers and delivers exceptional experiences”. This is from the investor letter filed on November 16, 2020. + +The hiring spree for web3 developers, the launch of the NFT marketplace and choice of channel partners to execute the NFT strategy telegraphs the next area of expansion for Gamestop, a market segment that a video game retailer and other competing brick and mortar stores cannot touch – mobile gaming. As much as true gamers want to snob mobile gaming as microtransaction riddled toilet games, the market segment can no longer be ignored as a revenue stream for those seeking profitability. Page 2 of the letter mentions of one the key squandered opportunities was “The explosion of mobile”. Notable hires to Gamestop in the past year are Matt Finestone, Larry Cheng, Matt Furlong, and a parade of tech talent who have left prominent positions in larger companies to work for Gamestop, and paid mostly in stock. These people are high net worth individuals who have bet their careers and their salary on Gamestop, and they are on the board of directors. + +The next indicator of a soft pivot to e-commerce is the acquisition of distribution warehouses, which will serve customers in areas where unprofitable stores have their leases closed out. While Gamestop cannot reverse the trend of brick and mortar stores dying out, one action it can take is to minimize losses from existing stores and improve delivery to retain customers in those areas. The massive uptake in web3 and logistics talent plus the acquisition of distribution centers shows that Gamestop is rapidly positioning itself to be the current and future destination for gamers. + +Bear Thesis: The transition to digital distribution will reduce revenue across all its stores and make Gamestop increasingly irrelevant in the market that it operates and remove its major driver of profits, used physical copies of games + +Bull Thesis: Gamestop is building a marketplace for digital gaming assets and collectibles that will capture value from the rapidly growing mobile gaming market. + +Remember when Not A Cat was talking about the relevance of discs and the impact on Gamestop? He was also very close to the concept that Gamestop is now executing. In fact, on the August 3, 2020 stream, From 1:16:50-1:17:54, he speaks about Gamestop being “a clearing house for used games”. This was the right idea on the wrong side of the chart. More specifically, this one: + +&#x200B; + +[Oh no, discless consoles will destroy GME!](https://preview.redd.it/vlg8oie2unk91.jpg?width=571&format=pjpg&auto=webp&s=5c0d50c3fd7efc57703f9147988e2ae973ef70e6) + +&#x200B; + +[When in doubt, Zoom Out!](https://preview.redd.it/dxoe4fj5unk91.jpg?width=1772&format=pjpg&auto=webp&s=0f609bdbf68c7038808fb8ddad4e988f868c892b) + +Source: Mobile Gamers Whitepaper by Newzoo + +This shows how big mobile gaming happens to be. It’s now the largest segment of the gaming industry. Aside from Fortnite Funko Pops and gift cards, Gamestop currently sees no revenue from mobile games. The mobile gaming market also functions very differently from console gaming, with most games being free to download instead of charging $60-$70 a copy. There is no value in selling a copy of titles like Candy Crush Saga because the game itself is free. Instead, games like these are loaded with microtransactions like power ups, battle passes, and ingame equipment with separate bonus rolls, all paid for with ingame currency, which can either be earned ingame or purchased outright. The key point we want to focus on here is purchased outright – because all phones now come attached with a wallet connected to a payment method, like Google Pay, iTunes, or Apple Pay. There is also a lower barrier to entry for mobile games since they do not require purchase of a separate console to play. The games also come with inherent problems, like randomized loot drops and equipment set bonuses for said randomized drops, which compels the player to sink in more and more money. All this revenue is cut between the developer and the app store. + +If we go back and look at 12 year old gamer Little Johnny, 2022 edition, we now have a problem. All his money is sunk into one mobile game, and there’s no way he can sell his in-game assets to provide liquidity for the new mobile game all his friends are playing. There are third party websites where whole accounts can be sold, but these are against the developer’s terms of service and give horrible trade in values that are pennies on the dollar or less – much worse than 2009 Gamestop trade in values. Also, he hates the loot box mechanic because it’s basically a Skinner Box with some shiny loot on the cover. + +Enter Gamestop NFT and Immutable X. They are currently building games that are free to download and play, with the items earned in each game as a digital asset in the form of a non-fungible token, or NFT. Gamers who play these games, whether on mobile, console, or PC, can now earn in-game rewards, use them for loot boxes, and then sell those digital assets to players who don’t like loot box mechanics. If players like Little Johnny want to migrate to a new game, he can sell some or all of his in-game assets on Gamestop NFT with a marketplace fee that Gamestop collects, and then use the tokens in his Gamestop Wallet to purchase loot in another game. The developer makes money on the initial sale of digital currency, and then recurring revenue on the resale of the ingame assets via Gamestop NFT. The players gain liquidity that was previous sunk into one game’s economy. This will be how Power to the Creators, Power to the Players, Power to the Collecters plays out. + +For proof, here’s the Immutable marketplace: + +&#x200B; + +[The Multiverse of gaming and collectibles is here!](https://preview.redd.it/iymanu19unk91.jpg?width=2228&format=pjpg&auto=webp&s=f1d2561bcd218b0d8b70b519e1838b195d8c9d61) + +You can pick up any game, like Gods Unchained, win some cards through card packs, and then sell those cards (which exist as NFTs) for IMX tokens or another cryptocurrency, and then use the wallet funds to buy items in another game like Guild of Guardians (or cash out for fiat currency). This is currently done via Metamask and integration with the IMX wallet, but improvements made on the marketplace now include the Gamestop Wallet, which launched this year. Liquidity for games has gone digital, with Gamestop once again becoming the place to go for exchanging games, or in this case, the digital assets within free to install games. + +Another key metric that would have supported the bear thesis is consistently declining sales revenue per quarter. If we examine the most recent Gamestop form 10-Q, the opposite is true. Sales revenue has consistently increased Y2Y per quarter since the pandemic, which indicates that the publicity received by the sneeze had an overall positive effect on the brand. Gamestop’s diversification into trades of digital gaming assets via mobile gaming and improving sales revenue disproves this part of the thesis. + +Bear Thesis: The last major pandemic lasted 3 years, at which point the lockdowns will have long bankrupted Gamestop, which was severely handicapped under an existing loan agreement and lacking funds to execute any kind of turnaround plan. + +Bull Thesis: The pandemic lockdowns have mostly ended. Gamestop raised enough money to sustain operations through sale of stock. It is currently executing a turnaround plan centered around growing ecommerce and web3. + +When Gamestop sold off its stock, it used the funds and cash on hand to pay off its debt obligation early. The obligation effectively crippled the company and prevented it from issuing dividends and a slew of other actions that could have been used to service the debt. This obligation was critical to containing Gamestop under the bear thesis and ensuring that the company collapsed under the load, just like Blockbuster – Netflix did not kill Blockbuster, it was the debt bomb during the IPO that did. With interest rates rising, any companies that have a heavy debt load are looked upon less favorably since that debt is now harder to service. Other than retail leases and some covid assistance loans, Gamestop holds no significant debts. This effectively kills the ‘death by crushing debt burden’ part of the bear thesis. Furthermore, the pandemic lockdowns did not last as long as the analysts expected. + +Gamestop has used its new lease on life to soft pivot to ecommerce and create a marketplace that targets two new market segments in gaming and collectibles that it plans to monetize. These two sectors are mobile gaming and digital collectibles. + +With Gamestop’s entry into the mobile market, it looks to address a segment that now makes up 52% of all total gaming revenue. More people are getting smartphones compared to consoles, with the console market actually shrinking 6% YoY due to hardware shortages, while mobile gaming revenue has a forecast CAGR of 12.2% to 2030. Mobile games have shorter development times compared to most console games and the ubiquitous nature of smartphones creates an environment where games can generate record revenue in a very short period of time. Games like Genshin Impact took a bit over 5 months to reach $1 billion in sales. PUBG and Candy Crush Saga still make over a billion dollars revenue a year. By comparison, Bethseda’s lifetime revenue on Steam, totaling 12 years, took in $714 million (source: [https://vginsights.com/developer/14012/bethesda-game-studios](https://vginsights.com/developer/14012/bethesda-game-studios) ). It’s fair to say Gamestop is jumping in a much bigger pond. To date, the only blockchain mobile game to surpass $1 billion in revenue is Axie Infinity, and it’s not even a AAA title by any stretch. Gamestop’s marketplace will really take off when more players realize they are being screwed out of liquidity by developers under the current model and more developers realize they have a recurring revenue stream through a digital marketplace. This is taken from the landing page of Immutable’s flagship game, God’s Unchained: + +&#x200B; + +[Power to The Players, once more!](https://preview.redd.it/shz76n9dunk91.jpg?width=2068&format=pjpg&auto=webp&s=c6d5c9db2bea6d42e614e9178cb7d6b5245ca5fa) + +The days of stranded cash shop assets in closed gaming economies are numbered. Players deserve better, and Gamestop is a brand they have always trusted to get value for their gaming assets. + +The other half of the equation is the NFT collectibles market. Despite claims that the NFT market is dead, total market size grew 28% from last year. This is in line with the analyst predicted CAGR of 30-33% of the NFT market, expected to top $120 billion by 2026 (probably much sooner if the backwards hoodie guy markets the Wu-Tang album). Even if you are a skeptic and believe NFTs are nothing more than digital POGs, it’s worth noting that from 1994 to 1998, pretty much every movie, TV show, and major brand had its own POGs and spent hundreds of millions of dollars marketing cardboard tiddly winks. Some of those complete sets are still worth money today and appreciated in value. Once major brands start using the technology as part of their marketing efforts or to authenticate high end merchandise, the same people who couldn’t see past the ugly, overpriced apes will be part of the same myopic crowd who thought the internet was nothing more than a fad with a bunch of dancing hamsters. + +Not only is Gamestop not going bankrupt any time soon, it is positioning itself to be a major player in the digital gaming assets and digital collectibles markets, which has a total projected market value of $400 billion by 2030 and double digit CAGRs. By comparison the bear thesis sees Gamestop dying by losing more and more of its market share in the shrinking $50 billion console gaming market. Based on Gamestop’s most recent balance sheet and future market ambitions, no part of this section of the bear thesis can be defended. + +The next part of this DD will cover the Transformation in Action and The Forward Looking Bull Thesis. Stay tuned. + +&#x200B; + +[Link to Part II](https://www.reddit.com/r/Superstonk/comments/x18sg7/gamestops_400_billion_nftransformation_part_ii/) +Heya friends! Such an exciting day and I have something I can FINALLY contribute to the cause. + +I setup this site: [https://sevenfourone.live/](https://sevenfourone.live/) that shows the total NFTs from the collections & volume across each collection. + +[Site showing aggregate of scraped metrics from the NFT marketplace](https://preview.redd.it/029upzs0d2b91.png?width=2046&format=png&auto=webp&s=edf50ec4f69d3f344e06149d9d965447e62b716a) + +The bot & site code is available here, please contribute by opening PRs if you're a developer: [https://github.com/kowsheek/nft-gamestop-marketplace-metrics](https://github.com/kowsheek/nft-gamestop-marketplace-metrics). Any & all improvements to design & development would be awesome. + +I'll update this again tomorrow in about 12 hours. I hope to automate this over the next few days if none of the fellow developers beat me to it. On this topic, note: I wanted to be mindful of the traffic to the marketplace already so I didn't automate the bot up-front. + +UPDATE: + +\- I've added ETH to USD conversion + +\- Updated with new metrics, freshly pulled. The traction is AMAZING + +[Aggregate metrics with ETH to USD conversion](https://preview.redd.it/23qq4ji3r2b91.png?width=2046&format=png&auto=webp&s=af16869df3f7a4c30b70ad2a615d6bc8c7674f15) + +Signing off for tonight friends, MOASS TOMORROW 🫡 + +&#x200B; + +UPDATE 2: + +\- Added fees metric, assuming 1.25% of volume, if anyone can provide official/documented fee amount (from an API), that can be used instead + +&#x200B; + +[Aggregate volume with fee calculation](https://preview.redd.it/ouw2b7qnu2b91.png?width=2046&format=png&auto=webp&s=6c7b7c873e9b9d45559da6625a1f131e494c9a53) + +Signing off for real now :) + +UPDATE 3: + +HOLY MOASS! I didn't even notice we crossed a million 🔥🔥🔥 Congrats fellow company owners on this successful launch of a new product line 👊🏽 + +Good night, next update will be after the casino opens ✌🏽 +Your markets are run by bots. Now your daily threads are too. + +&#x200B; + +This thread is for plans and thoughts prior to the market open period. + +Maybe use this time to read the [wiki](https://www.reddit.com/r/asx_bets/wiki/index/) [.](https://styles.redditmedia.com/t5_2hqqj5/styles/communityIcon_41pmnaqp4zn41.png?width=256&s=59bf38425fb316fdcba30365b272a5f19352f370) + +&#x200B; + +Posts relating to the "Is /r/ASX_bets about finance or effect your mental health?" etc will lead to a ban of the mods chosing. [You have been warned](https://www.reddit.com/r/ASX_Bets/comments/l0l9et/the_does_asx_bets_effect_your_finances_emotions/?utm_medium=android_app&utm_source=share). + +&#x200B; + +[We have an active official/unofficial discord. It's open to all discussions, stonks related and non-stonks related](https://discord.gg/wsNDGTf5QH). +Your markets are run by bots. Now your daily threads are too. + +&#x200B; + +This thread is for plans and thoughts prior to the market open period. + +Maybe use this time to read the [wiki](https://www.reddit.com/r/asx_bets/wiki/index/) [.](https://styles.redditmedia.com/t5_2hqqj5/styles/communityIcon_41pmnaqp4zn41.png?width=256&s=59bf38425fb316fdcba30365b272a5f19352f370) + +&#x200B; + +Posts relating to the "Is /r/ASX_bets about finance or effect your mental health?" etc will lead to a ban of the mods chosing. [You have been warned](https://www.reddit.com/r/ASX_Bets/comments/l0l9et/the_does_asx_bets_effect_your_finances_emotions/?utm_medium=android_app&utm_source=share). + +&#x200B; + +[We have an active official/unofficial discord. It's open to all discussions, stonks related and non-stonks related](https://discord.gg/wsNDGTf5QH). +Your markets are run by bots. Now your daily threads are too. + +&#x200B; + +This thread is for plans and thoughts prior to the market open period. + +Maybe use this time to read the [wiki](https://www.reddit.com/r/asx_bets/wiki/index/) [.](https://styles.redditmedia.com/t5_2hqqj5/styles/communityIcon_41pmnaqp4zn41.png?width=256&s=59bf38425fb316fdcba30365b272a5f19352f370) + +&#x200B; + +Posts relating to the "Is /r/ASX_bets about finance or effect your mental health?" etc will lead to a ban of the mods chosing. [You have been warned](https://www.reddit.com/r/ASX_Bets/comments/l0l9et/the_does_asx_bets_effect_your_finances_emotions/?utm_medium=android_app&utm_source=share). + +&#x200B; + +[We have an active official/unofficial discord. It's open to all discussions, stonks related and non-stonks related](https://discord.gg/wsNDGTf5QH). +Operating earnings drop 11% while stock gains boost net income + +Buffett was a net seller of stocks and slowed repurchases + +https://www.bloomberg.com/news/articles/2019-08-03/buffett-s-cash-pile-hits-record-as-berkshire-holds-122-billion +Whoever you are, wherever you come from, whatever you held, you refused to sell and stood your ground. You believed in the tech and not the words of those who doubted it. + +You deserve these gains because of that, and I for one thank you for holding the ground, I can hardly imagine what would've happened if we went to 20K or below. + +People say they're not in it for the tech but they don't realize it until they spent a few months in the dip, they probably didn't invest for the tech but they held it for the tech. + +I for one believe in it and imagine a decentralized human civilization within the next century, we are the pioneers of the next tech revolution and it wouldn't be possible without you. +I am looking into invest 20% of my portfolio in QQQ/QQQM. I understand the trading volume is higher and hence the spread is tighter in QQQ. But I am not concerned about that as I am looking to buy and hold for 2-3 years. + +I see that the main difference is the 0.20 vs 0.15 expense ratio and I almost decided to go for QQQM based on this. But I see that QQQM trails the QQQ in performance, although only slightly. And more importantly, QQQ has almost double the dividend yield of QQQM. Does this higher yield offset the higher the expense ratio making QQQ a better investment than QQQM? Also, if they are both tracking the exact same underlying stocks, I am lost on why the dividend yield is different. + +Reference: https://etfdb.com/tool/etf-comparison/QQQ-QQQM/#performance +I've seen a few "should I take this job or that one" posts lately, but this may be unique in the sense that the pay difference is huge and the decision may impact my health. I am curious to see what people think. I have two career opportunities that I could transition into soon. For background, 35 years old, married, two kids, MCOL area. Net worth is about 750K, but we got a late start due to both of us going to grad school. My opportunities are: + +1. 400K total comp, about half of which is variable compensation based on overall profitability of the business unit. I would be returning to a position at a company I previously worked for. The comp package is attractive and I would have the ability to periodically work from home, but the job itself is very high stress. It's in a really competitive industry, the company has aggressive growth goals, and the CEO is somewhat absentee (other than to amp up pressure to hit goals). During my previous time with this company I was constantly putting out fires and trying to save clients from taking their business elsewhere (the industry norm is for contracts to have a 30 day termination clause, so clients have a ton of leverage). Hours were about 55-60 per week, traveling every other week or weekly in order to put in face time with clients. I've had an anxiety disorder that was mostly under wraps for the last 15 years, but during my last stint with the option 1 company, I found myself back on meds and in a psychiatrist's office to deal with the stress. +2. 140K total comp, mostly base salary and possibility to grow to 170K in the next two years. This would be a chance to join a growing startup founded by someone I worked for in the past and enjoyed. The culture values work-life balance and is much less cut throat. This would be a typical 40 hour work week, and virtually no travel required. The clients in this case would be less fickle, and socially I also like many of the people who work here now. The downsides are obviously that the pay is less than half of option 1, and I would have a bit of a daily commute. + +I'm not quite sure what to do. I thought about trying to negotiate less travel/more flexibility into option 1, but I think it would go out the window the first time there is a client that needs saving. Is it worth risking burnout/mental health for another bite of the apple? +&#x200B; + +https://preview.redd.it/zytbef77fy971.png?width=1600&format=png&auto=webp&s=477dda9b2535049db4d0bee5c0a27c5f96c16a9e + + Good Morning San Diago, + +I am Rensole and this is your daily news. + +Does anyone smell that? + +\*insert flashy intro card\* + +&#x200B; + +https://preview.redd.it/a52ksqs8fy971.png?width=680&format=png&auto=webp&s=d36e3553d83cd303505b3d221fa7fb075b182221 + +The reverse repo's for today + +&#x200B; + +https://preview.redd.it/gzhjoz7lfy971.png?width=960&format=png&auto=webp&s=d27a2d7e447324c2f2a7cfccb5f927900ce34545 + +# The moon patrol + +&#x200B; + +https://preview.redd.it/japxpopvfy971.png?width=1440&format=png&auto=webp&s=8f879c48b7f20e068f58de9366e84ddb13013442 + +[https://go.minehut.com/moonjam](https://go.minehut.com/moonjam) + +Brick by minecraft Brick, Moonjam is an event hosted in minecraft + + + +>The moon is always full at MoonJam! +> +>For one whole month — July 20th until August 20th — this lunar playground is yours to explore. Once you land at MoonJam, your first critical mission will be...to party! We're kicking off with a live concert, headlined by AJR with special guest Gunnar Gehl, right on the first day. Don't miss it! +> +>Taking on the challenge of our raffle course and star hunt could earn you a Squeakee Dino or a custom MoonJam ASTRO A40 TR Headset, exclusive to this event! +> +>There's a whole universe out there, so what are you waiting for? It's time to go zero gravity! + +&#x200B; + +[ingame ads for gme](https://preview.redd.it/g2aa1uyagy971.png?width=1536&format=png&auto=webp&s=641671be687f45e6192930a4e28a2dff4a5f41ae) + +Now lets look at some other info to feed a tinfoil bias, first of all minehut is owned by SLGG. + +written by u/FloTonix **and** u/flyingwolf + +>After traveling 240,000 miles in 76 hours, Apollo 11 entered into a lunar orbit on July 19. The next day, at 1:46 p.m., the lunar module Eagle, manned by Armstrong and Aldrin, separated from the command module, where Collins remained. Two hours later, the Eagle began its descent to the lunar surface, and at **4:17** p.m. the craft touched down on the southwestern edge of the Sea of Tranquility. Armstrong immediately radioed to Mission Control in Houston, Texas, a now-famous message: "The Eagle has landed." + +and + +>Want to really jack them titties? +> +>[https://nssdc.gsfc.nasa.gov/planetary/lunar/apolloloc.html](https://nssdc.gsfc.nasa.gov/planetary/lunar/apolloloc.html) +> +>Apollo 11 was jettisoned at ***7:41PM*** EDT on July 21, 1969. +> +>Anyone we know have a seeming fetish for 7:41pm... + +&#x200B; + +Again it's tinfoil at best but still interesting to speculate about. + +&#x200B; + +https://preview.redd.it/onx2o0g3hy971.png?width=640&format=png&auto=webp&s=bcf12ecc681773433a464bd2fcc01f57350acf0d + +Finra needs your input. + +Now we're normally against commenting on mass, or even telling the sub "go quickly bla bla bla". + +But here is the thing, this lady from Finra is asking the Apes directly, so be sure to leave them your opinion as this wont affect any of the rules in writing but could help create new ones. + +But for the love of god please be respectful, shit flinging never helped anyone ;) + +&#x200B; + +https://preview.redd.it/7t8oeevxhy971.png?width=640&format=png&auto=webp&s=373a8cd45f01fbee608d126675ae6ad83387fe3f + +I have no further information on this lawsuit but did think it was interesting to share. + +# + +https://preview.redd.it/k4ysve3viy971.png?width=571&format=png&auto=webp&s=c5ba470776673b39773162d9589367b3c77e0179 + +# It's dangerous to go outside alone, take this! + + u/onlyfuturehuman did something amazing, he backed up almost every DD in single consolidated pdf, this is seriously super impressive and I'm thankful he did this, be sure to give his thread a quick read and save the PDF in case of a reddit blackout! + +[https://www.reddit.com/r/Superstonk/comments/ofl270/in\_case\_of\_emergency\_break\_glass\_the\_superstonk/?utm\_source=share&utm\_medium=ios\_app&utm\_name=iossmf](https://www.reddit.com/r/Superstonk/comments/ofl270/in_case_of_emergency_break_glass_the_superstonk/?utm_source=share&utm_medium=ios_app&utm_name=iossmf) + +&#x200B; + +OBV action + +by u/CitesQuo **Hollandse Hunk** + +Would be a shame if someone could see the sideways OBV, seeing no major selling is happening right? + +&#x200B;