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lhk49b

Is anyone trading while holding a 9 to 5 job?

I'm a software developer in my 30s. I have a day job in my field but I don't see myself getting anymore promotions. Most developers my age move on to managerial positions. I don't have the social skills required for those kind of positions. I have recently started reading up on day trading and slowly trying to get in this market. My goal is to start very slow and make progress over a span of 3 - 5 years. So if you're trading while holding 9 - 5 jobs, I'd be grateful for some tips and strategies.

Daytrading

Research and build watchlist and have it ready in the morning At 10-11 I watch my phone closely for buying opportunity. At 12-1 I look closely for my sell opportunity. Once I buy, I put a stop loss and a sell limit. Do my thing, sometimes they sell by the time I check, if they haven’t, I readdress the chart and momentum.. most of the time I just sell and call it a day as long as I have enough profit there. Not financial advice, but an easy way for me to handle it. I could profit more, but I’m comfy.

la3bft

Emotional involvement has never been this high, please understand the risk involved.

First of all, I can't wait to be berated in the comments. I'm gonna be blunt, I have seen a whole lot of dumb shit over the last week. A lot more than normal. And compounding all of that is an unprecedented amount of legitimate emotional involvement here. So let me get started by saying outright that people getting emotionally involved with trading stocks always lose. Short, long, whatever. It doesn't matter if you're a 19 year old throwing in your life savings or Bill fucking Ackman not being able to admit he was wrong with Herbalife. Letting your emotions be a major factor in trading is a fantastic way to lose money. And a whole lot of you are really emotionally involved with this GME, AMC, whatever. To the point: I am not making a buy/sell/hold/whatever recommendation. I have no special insight in to what's happening with GME or whatever else. What I can tell you is that it is for sure not worth $300. So let's dispel one quick thing: this is not David vs Goliath. It also isn't the little man vs hedge funds or WSB vs big finance. It might have started out that way, but if you only read one thing [read this](https://www.bloomberg.com/opinion/articles/2021-01-29/reddit-traders-on-robinhood-are-on-both-sides-of-gamestop): >Many of the big retail brokerages, including Robinhood, route a lot of their customer orders to Citadel Securities, so it ends up seeing a large percentage of retail trades in U.S. stocks. It can see if retail traders are mostly buying or mostly selling or mostly pretty balanced. You might expect—I certainly expected—to see that retail traders were buying more than they were selling this week. The stock seemed to be rocketing up on frenzied retail sentiment, and the posters on WallStreetBets were all claiming that they would never sell and keep buying until it hit $1,000. >But here’s what Citadel Securities’ retail flow looked like in GameStop this week: 1 >[Graphic here](https://assets.bwbx.io/images/users/iqjWHBFdfxIU/i9SnRzR8AM1c/v0/800x-1.png) >Retail investors were net buyers on Monday but net sellers for the rest of the week (through yesterday), and all in all quite balanced: About 49.8% of retail orders (that Citadel Securities saw) were to buy, and 50.2% were to sell. >What do you make of that? One reading would be: “Retail investors on Reddit might have started the GameStop rally, but they’re not piling into this stock now, and the price action this week is coming from professionals.” Or as one Twitter user put it, “past the retail ignition, the rocket ship was mostly intra-fast money warfare.” So, just to be clear about this, there is massive institutional money on both sides of this trade, and retail is a toddler sitting at the world series of poker. **Understand that melvin does not need to cover in the way a retail trader needs to cover**. You, and everyone else, have no idea what Melvin's position looks like, and they can reorganize and exit a position before you ever knew it happened. You don't know how hedged they are, you don't know what their collateral looks like, and you don't know if they've covered and restructured a short at last week's prices. You simply don't know. You only know what's been presented in the news, which is almost certainly bullshit. This thing could come to an end as fast as it started and you won't know what happened for weeks. You might go take a shit at 1pm today and come back to GME trading at $16 because Ken Griffin got on CNBC and announced they restructured their short at an average price of $200, and were happy to sit on it. Make no mistake, you'll get kicked in the nuts and have your ball taken away faster than you can comprehend. **Emotions** The problem with this whole "strike back at wall street" narrative is that lots of you are getting really worked up over this trade. Losing money sucks, but losing money and feeling like you got shit on by the big guy is going to hurt. This isn't a moral crusade to them, it's 25 billion dollars. So if you're out here putting money and emotions on the line that you can't afford to lose there won't be a happy ending. Want to fight the good fight against wall street? Write your congressman, Tweet AOC or Ted Cruz, get you a fucking picket sign and go wave it around on the streeet. But dropping money on GME that you need in life ain't gonna change anything except your net worth. TLDR: 1) know and understand who is playing this game. And that they have access to tools, leverage, and markets that you do not. You're playing Le Chiffre at Casino Royale right now, you might think you're James Bond but there's a good chance that you're just the fat dude in the corner. 2) Short squeezes end fast. As fast as they started. If you're new to trading then understand buying GME at this price can mean all of your money will evaporate before you had time to make a TikTock about it. 3) Get your emotions out of play here. This whole nonsense political narrative is only going to cause you to make trading mistakes. Can't handle that? then maybe it's not a good idea to sit at this table. Lastly, if you really just can't get yourself out of the whole "fight the hedge funds" nonsense, at least understand that you're spending money that you likely won't get back. If that's worth it to you then have at it. But don't fool yourself in to thinking otherwise. **E: Completely unrelated**: I hate reddit awards, reddit doesn't need your money. Go buy like a hundredth of a share of VTI or something.

investing

"One of the biggest mistakes people generally make, and I’m guilty of it too, is wishful thinking. You know, like you want something to be true, even if it isn’t true. You ignore the real truth, because of what you want to be true " \-Elon musk. Quite ironic, really.

lh8dyi

NAMASTE TECH. NV

Hey, this is my first DD, I've been trading for around 6 months, and I found this very interesting penny stock with great growth potential! I'd like to hear your opinions aswell! Namaste Technologies (NV/NXTTF) is the largest ONLINE retailer for medical cannabis systems across the world. Majority of the market is situated in the biggest countries such as: Europe, Australia, UK, Canada, Germany, and keeps expanding into new markets such as Brazil, Mexico and Chile. Namaste Tech. is an international leader in vaporizer and accessories distribution, with great potential up ahead. We are the most bullish on the international side of the industry. Here are some keys aspects to consider upon investments: -Advances USA Expansion with approval from TSX Exchange, engaging in sales of smoking accessories and hemp derived CBD in the U.S. Namaste looks forward to leveraging its VendorLink technology in collaboration with DankStop and PeakBirch Logic, Inc. They also launched another brand under the name: Roilty. -Expects to go live for U.S customers thru CAnnmart by the end of this February 2021. This proves that their expansion is significant and should affect the attention of the company. -This company got approved for their launch of a new nutraceutical division and an expansion of the business into psychedelics. -Estimation of 100% surge on Q4 revenue to $8m From the looks of it, Namaste Technologies have extremely great potential for growth. Through the power of expansion and innovation, there’s no surprise that the company grew by 88% this last month. It is truly a company to watch out for closely, as they are very active with deal-breaking new ideas and constant development. PRICE TARGET: Short Term: 2$-2.25$ - Long Term: 5$+ My personal position stands at 10.3k shares at 0.29$ NAMASTE TECH. EXTRA INFORMATION (10/02/2021): Market Cap: 115.62M Volume: 8,341,194 Avg. Volume: 1,008,808 References: https://finpedia.co/bin/Namaste%20Technologies/ https://www.namastetechnologies.com/news/

Canadapennystocks

I entered this a few days ago at $0.20, it really seems like a hidden gem that hasn't gained traction yet. I can definitely see this gaining much more traction over the next few weeks. When I was researching it, this was what stood out to me: \- They're actually extremely diversified in what they offer in the weed industry, as they have 24 different websites and 5 warehouses \- They have some kind of presence in 24 countries, and they're rapidly expanding to others \- Their Cannmart retail platform offers a ton of variety of CBD and THC products in at every class level, ranging from $5-$25 a gram. This stands out because I haven't found any other retailer that offers that price range, as there is a price that can match any consumers expectations. Another massive plus is Cannmart operates in 17 countries and is continually expanding support for other countries. \- Their Namaste MD platform easily allows people to get a medical cannabis prescription, all online. They offer this service for free, and with the prescription they give you, you can buy weed for free and it's covered under insurance/government medical plans. \- Uppy is another app they have which furthers their position in the medical cannabis industry. It allows users to record and monitor their intake and cannabis usage. \- Australia Vaporizers and Namaste Vapes two more of their brands that sell vapes. Australia Vaporizers is the largest vape provider in Australia now. \- They announced on February 2nd that they are planning on expanding into the Psychedelics market Positions: 5000@\~$0.20

lgd6sf

What is your favourite Canadian Penny Stock? Describe it in 2 sentences or less

Use this as an opportunity to introduce people to your favourite ticker that they may have never come across otherwise! Maybe find a hidden gem or two.. **ALWAYS DO YOUR OWN DD!!** **Keep the main comments to this format:** “$#### - Describe the company, blah blah blah. 🚀” **Rules:** Main comments must be 2 sentences or less in the format above. No crazy text walls in replies (extensive DD, copy paste press releases, etc.) No links in main comment. Links in replies allowed ONLY if it answers a question. **Low karma/new accounts:** Comments will be moderated but this is a good chance to join the discussion and earn karma to get past auto mod restrictions! Ask questions, chat & have fun! None of this is financial advice.

Canadapennystocks

$PYR - Defense, metallurgical, mining, additive manufacturing 3D printing, oil and gas, and environmental industries. $HPQFF - Cheapest and purest nano silicon for EV, Biotech and in the near future green hydrogen production.

mczysg

Should I start trading on a live account now?

Sorry idk where else to post this but I’ve been trading forex on a demo account now for a week and I’ve grown my account from $5000 to $10500 in just 5 days of trading. I know that trading on a demo is a lot different than with your own money, but I have a bit of experience with bitcoin and using a good amount of my own money, so my emotions are in to play with that. I’ve only lost 3 trades total on my demo account and it seems too good to be true? I also know the market isn’t fully predictable but I read up on the news every morning before I start trading as well as analyze the chart and decide which patterns I want to trade off of for said day But anyways, should I just hop into a live account (with money that I would be comfortable losing) or should I keep practicing on my demo for longer? Thank you

Trading

No, because *you* didn't grow your account, you gambled and got lucky. It's not the market is not fully predictable, it is *not* predictable, reading the news *will not* help you determine what markets will do and patterns have *zero statistical efficacy.* What I think you need to do focus on studying data analysis and statistics, build something that is fully objective and repeatable, test it on historical data, switch to live testing on a demo for six to twelve months, then if it works, start out small. Please, understand that you had nothing to do with the results produced, as they are randomly distributed. It's not that I am trying to put you down, I am trying to help you overcome some very common cognitive biases, that will surely lead to losing all the money you put into it.

7jtnmh

UPVOTE if you're sick of KRAKEN's performance!

I understand that all exchanges have to deal with the huge influx of new users. However, since I use a lot of exchanges, the performance on KRAKEN is the worst by far compared to other exchanges. It doesn't matter whenever I try to use it, it's not usable. Yesterday I tried Coinbase during the same time and it worked perfectly. I used to defend KRAKEN as I am an old-school user, but guys, get your shit together. And why isn't there more communication on when KRAKEN is going to implement it's new and more stable trading system? God damn it, I am seriously considering leaving KRAKEN for good... you can't rely on it ... #frustrationintensifies EDIT: oh wow, didn't expect so many upvotes. would be nice if someone from KRAKEN would comment on this topic

ethtrader

So Kraken, you promised a fix in "the first week of Decemeber". We are soon through the second week. They should be live as of this moment. They are NOT live. It's worse then ever. Please communicate with us. Upvote so they answer, I tagged four of them here: /u/kraken-tyler /u/krakenexchange /u/jespow /u/kraken-frank **EDIT:** They've released [this](https://blog.kraken.com/post/1399/degraded-service-upgrade-next-week/) blog post with some good information. TLDR; give them one week and if they don't deliever let's leave

xqiftl

A bill has now officially been drafted to ban any politician, their child, spouse, other related connection from owning stocks, and instead put holdings in a blind trust.

House Democrats introduced a long-awaited bill on Tuesday that seeks to ban members of Congress, federal judges, Supreme Court justices, the president and others from trading stocks, in an attempt to crack down on conflicts of interest throughout the government. The 26-page bill, titled the Combatting Financial Conflicts of Interest in Government Act, would ban a slew of government officials from trading or owning investments in securities, commodities, futures, cryptocurrency or other digital assets. Those covered by the legislation include members of Congress, their spouses and dependent children, senior congressional staffers, the president, the vice president, political appointees, judicial officers — including Supreme Court justices and various judges — members of the Federal Reserve System’s Board of Governors and the president or vice president of a Federal Reserve bank. Individuals subject to the ban would be required to divest their holdings or place them into a qualified blind trust. The measure, however, does not pertain to investments in diversified mutual funds, U.S. Treasury bills, state or municipal government bills, notes or bonds and investment funds held as part of a federal, state or local government employee retirement plan, among other types of widely held, diversified and publicly traded investment funds. The House Administration Committee released the text of the bill months after Speaker Nancy Pelosi (D-Calif.) in February directed Rep. Zoe Lofgren (D-Calif.), chairwoman of the House Administration Committee, to draft a bill. The push to ban lawmakers from trading stocks has gained steam on Capitol Hill amid reports that members have violated laws meant to prevent conflicts of interests involving financial transactions. In September, The New York Times published an extensive report that said 97 lawmakers or their family members traded financial assets in the past three years that could be conflicts of interest. Pelosi — whose husband, Paul Pelosi, is a venture capitalist — was at first against the idea of a ban on lawmaker stock trading, but ultimately endorsed the push in February. A bipartisan group of House lawmakers put the topic back in the news earlier this month when it penned a letter to leadership asking for a vote on a bill reforming lawmaker stock trading. Earlier this month, Pelosi said such a bill would likely come to the floor this month. But time is running out. The House reconvenes on Wednesday for the final three days of legislative business before the midterm elections. House lawmakers are scheduled to leave Washington on Friday and are not slated to return until after November. Even if there is enough time to bring the bill to the floor, it is unclear that it has the votes to pass. Punchbowl News reported earlier on Tuesday that House Majority Leader Steny Hoyer (D-Md.), who sets the schedule in the lower chamber, has expressed opposition to the ban on lawmaker stock trading. His spokesperson, however, told the outlet that Hoyer has “not seen final legislation, and will reserve his official decision until that time.” A group of senators have been working on separate legislation to ban lawmaker stock trading. The bill introduced on Tuesday also increases penalties for violating the provisions or the measure. Covered individuals who violate trading or ownership restrictions would be subject to a $1,000 fine. If the violation continues for more than 30 days, they would be subject to an additional $1,000 fine plus “an amount equal to 10 percent of the value of the covered investment that is the subject of violation at the beginning of the additional 30-day period of a continuing violation.” [https://thehill.com/homenews/house/3664219-democrats-introduce-bill-banning-lawmakers-judges-from-trading-stocks/](https://thehill.com/homenews/house/3664219-democrats-introduce-bill-banning-lawmakers-judges-from-trading-stocks/) The House Democrats has drafted the long-awaited bill that seeks to ban any politician and relatives from trading stocks titled Combatting Financial Conflicts of Interest in Government Act. Do you think this bill will pass?

StockMarket

> Covered individuals who violate trading or ownership restrictions would be subject to a $1,000 fine. If the violation continues for more than 30 days, they would be subject to an additional $1,000 fine plus “an amount equal to 10 percent of the value of the covered investment that is the subject of violation at the beginning of the additional 30-day period of a continuing violation.” Pelosi makes millions with these trades, yeah $1000 or even 10% is not enough deterrent. Make it a 50% penalty of the value of the covered investment for the first violation and 120% for each subsequent violation.

xqiftl

A bill has now officially been drafted to ban any politician, their child, spouse, other related connection from owning stocks, and instead put holdings in a blind trust.

House Democrats introduced a long-awaited bill on Tuesday that seeks to ban members of Congress, federal judges, Supreme Court justices, the president and others from trading stocks, in an attempt to crack down on conflicts of interest throughout the government. The 26-page bill, titled the Combatting Financial Conflicts of Interest in Government Act, would ban a slew of government officials from trading or owning investments in securities, commodities, futures, cryptocurrency or other digital assets. Those covered by the legislation include members of Congress, their spouses and dependent children, senior congressional staffers, the president, the vice president, political appointees, judicial officers — including Supreme Court justices and various judges — members of the Federal Reserve System’s Board of Governors and the president or vice president of a Federal Reserve bank. Individuals subject to the ban would be required to divest their holdings or place them into a qualified blind trust. The measure, however, does not pertain to investments in diversified mutual funds, U.S. Treasury bills, state or municipal government bills, notes or bonds and investment funds held as part of a federal, state or local government employee retirement plan, among other types of widely held, diversified and publicly traded investment funds. The House Administration Committee released the text of the bill months after Speaker Nancy Pelosi (D-Calif.) in February directed Rep. Zoe Lofgren (D-Calif.), chairwoman of the House Administration Committee, to draft a bill. The push to ban lawmakers from trading stocks has gained steam on Capitol Hill amid reports that members have violated laws meant to prevent conflicts of interests involving financial transactions. In September, The New York Times published an extensive report that said 97 lawmakers or their family members traded financial assets in the past three years that could be conflicts of interest. Pelosi — whose husband, Paul Pelosi, is a venture capitalist — was at first against the idea of a ban on lawmaker stock trading, but ultimately endorsed the push in February. A bipartisan group of House lawmakers put the topic back in the news earlier this month when it penned a letter to leadership asking for a vote on a bill reforming lawmaker stock trading. Earlier this month, Pelosi said such a bill would likely come to the floor this month. But time is running out. The House reconvenes on Wednesday for the final three days of legislative business before the midterm elections. House lawmakers are scheduled to leave Washington on Friday and are not slated to return until after November. Even if there is enough time to bring the bill to the floor, it is unclear that it has the votes to pass. Punchbowl News reported earlier on Tuesday that House Majority Leader Steny Hoyer (D-Md.), who sets the schedule in the lower chamber, has expressed opposition to the ban on lawmaker stock trading. His spokesperson, however, told the outlet that Hoyer has “not seen final legislation, and will reserve his official decision until that time.” A group of senators have been working on separate legislation to ban lawmaker stock trading. The bill introduced on Tuesday also increases penalties for violating the provisions or the measure. Covered individuals who violate trading or ownership restrictions would be subject to a $1,000 fine. If the violation continues for more than 30 days, they would be subject to an additional $1,000 fine plus “an amount equal to 10 percent of the value of the covered investment that is the subject of violation at the beginning of the additional 30-day period of a continuing violation.” [https://thehill.com/homenews/house/3664219-democrats-introduce-bill-banning-lawmakers-judges-from-trading-stocks/](https://thehill.com/homenews/house/3664219-democrats-introduce-bill-banning-lawmakers-judges-from-trading-stocks/) The House Democrats has drafted the long-awaited bill that seeks to ban any politician and relatives from trading stocks titled Combatting Financial Conflicts of Interest in Government Act. Do you think this bill will pass?

StockMarket

If it passes, concessions will absolutely have to be made with family members. At some point you could be many degrees removed from a sitting politician and still be considered close family. The Kennedy's are a great example of a family that had a lot of offspring, some political, some not, that would have been heavily impacted by the obligations as they all kept within their family's social (and political) circle in one way or another. Does that mean it's bad? Not necessarily. It's just that you have to be careful. If your dad is the son of a politician, does that mean you're fucked if you want to go on to a Wall Street career? If you father is impacted, why aren't you? You could get the same news he did just as fast. When does it stop? What if you're a cousin? What if you're married to a politicians child? Seems like a really tangled web that will have plenty of loopholes and entanglement issues. At first glance it would seem you could circumvent this with a foreign trust.

l8zt00

Can we get all the USA / GME crap confined to one mega thread?

Wallstreetbets sub exists for a reason... this place is literally titled ASX Bets, yet we have this influx of noobs already trying to karma farm with worse versions of the memes that already exist on WSB anyway. Petition to get a USA trading megathread that all dumb fuck "how 2 buy GME pls?" shit goes in? Dunno about others but I come here to see people talk about how to lose money on Aussie pennies...

ASX_Bets

I feel bad for WSB.. having 6.5 million new users has completely destroyed the sub, it's basically unusable, only filled with people spamming diamond and rocket ship emojis and saying how they've never bought stocks before

8klw4f

Someone Just Stoke Over 150k In Crypto From Me. Here's How They Did It. Now Let's Catch Them

Alright guys, I've had a sleepless night but now I'm ready to get to work on tracking down the asshats who took my money. First, let me tell you that I consider myself to be safe with my money. I have two factor authorization set up on every account. I also have triggers to disable accounts if new IPs are used to log in. I also avoid phishing emails, always check the addresses emails come from, and don't click on attachments. But guess what, that wasn't enough. Here's what they did. 1. They somehow spoofed my phone number and had it go to a different SIM card. My current sim card stopped working all of a sudden. 2. I spoke with my cell carrier and they said that there were no manual changes to my sim card with them, so I'm still not sure how this step was completed. 3. They logged into all of my emails \(they had all of my accounts queued up and ready to go\). Once they took over my phone they then put all of my email accounts into recovery mode and had them send codes to my phone for recovery. 4. They then quickly changed all of my email passwords. 5. Next, they logged into every exchange I use and did resets of the passwords or just logged in if they had the password using the 2FA since they now had my phone and emails. 6. They then proceeded to drain my main exchange account on Gemini. Luckily they couldn't get into Binance \(well done Binance\). Gemini did initially freeze my account when they discovered a new IP, but then they sent a freaking email with a link to immediately unfreeze it. No waiting period, nothing. So, it was a useless security step since they had access to my email. They then made two big transfers of my BTC and ETH out of my account. 7. Here is the ETH address they sent to: 0x25c6f8e1ffa1656e6d4546932Dc68b6889A8D769 8. Here is the BTC address they sent to: 1CuhKC6f6YUqJnuDPT28vqiktVR7chE7nG 9. Since they logged into my email, I got the two IP addresses they were using to do all of this. 10. First IP address: 217.151.98.69 based out of London, UK 11. Second IP address: 68.235.48.108 based out of Chicago, US Now, by the time I made it to the cell phone store to get a new Sim Card \(I had a feeling something like this was happening\) everything had already been done. I couldn't stop it because I was immediately cut off from communication and it all went down in about 15 minutes. This was obviously a coordinated attack. So, let's see what we can do as a community to keep these scum bags from messing with anyone else. 1. If those scum bags see this post, you can return the money and everything will be forgotten and I won't pursue this anymore. 2. If they don't return the money, I'll be going to the FBI, Interpol, and whoever else I need to with the information I have. We'll all be watching this money going forward, and no matter how many times they move it, we'll find out where it ends up and make it hell for them to try and spend it. If it makes it into an exchange, law enforcement can then subpoena the exchange for the information to make an arrest. Basically I'll do everything in my power to ensure that if these asshats try and use my money, the authorities will find out. 3. In 24 hours, if the funds haven't been returned, I'll be placing a MASSIVE bounty on the identification of these douchebags. And then every white knight, grey hat, and black hat individual out there will have a vested interest in bringing these guys to justice. Basically, I'm giving them 24 hours to make this right. If they don't, I'll do everything in my power to make sure they worry about every spending any of that money with the threat of a lengthy jail sentence hanging over their head. EDIT: Also, if folks could share this on the other crypto subs to give it as much visibility as possible. I don't have the karma to post on some of them. THANKS!

ethtrader

I'm sorry OP had to learn this the hard way, but for anyone else reading this: if your phone can unlock your e-mail account **then you are not using two factor authentication**. The hackers only compromised *one* thing (the phone), and it gave them access to everything else. This exact scenario has played out dozens of times. Do not rely on a phone number for security.

9brtct

DATAEUM MILESTONES

Q4 2018 Application release and back office consolidation Q1 2019 Blockchain integration throughout the platform Q2 2019 Integration of XDT tokens throughout the application Q4 2019 Marketplace deployment and its interface Q1 2020 Integration of an exchange platform within the system Q2 2020 Collection optimization Extension to the collection of all physical data Q3 2020 Enhancement of the marketplace Full automatization of the marketplace data licensing Q4 2020 Member to member interaction functionality Q1 2021 Merchants interactions solution Artificial int johnbosco aghaonu, \[28.06.18 17:49\] elligence Q2 2021 Extension of the marketplace to future solutions Q3 2021 App enhancement to additional functionalities

crypto_currency

Nowadays, data’s value is controlled by large corporations that are using humans to generate it by their actions, movements, and behaviors. So Dataeum will disrupt the existing paradigm so that data will no longer be exploited at the expense of individuals who create it.

kvcg2t

FatFIRED at 35

$3.2M in investment accounts + $650K in real estate equity ( Two 4 plex rentals) I live in a MCOL city and quit my job this morning ( well.... Put in my two weeks ) . My rentals pull in about $50k profit per year and I'll be withdrawing $70k /year from my investment account. With my lifestyle of mtn biking , skiing, and camping living on $120k / year should be very easy. I currently own my dream home ( equity not factored into NW) . However, I plan on renting/AirBNBing it out and traveling with my partner. My living expenses are pretty much a wash from what I pull in renting the house vs spend on accomodations while traveling. So how did I get here? I worked at Tesla for 5 year's before the stock was above $30/share. Then transferred to a FAANG which has done very well. I've held on to my Tesla options and sold them off as certain price points have been met. Looking back - the riskiest thing I did was doing nothing with the Tesla options. I sold off a fair share to purchase rental properties / main house / cars. If I would have sat on it I would have had $10M + . But I'm okay with the measly $3.8M I have now :) I plan on having a kid or two, continue exploring the world, and dedicating my time to others. But for now , I'm going to enjoy a beer in the backyard. There's a memory I have doing the math of buying a house with my first jobs $50k salary at 25. Sitting in my car thinking how the fuck am I suppose to make any of this work. A lot has changed in 10 years, but this memory guides me whenever I felt lost. Cheers!

fatFIRE

> If I would have sat on it I would have had $10M + . But I'm okay with the measly $3.8M I have now :) Congrats! These Ifs and Buts can be painful if you dwell too much on it. Glad you are able to make peace with it!

xywkmy

Why didn't Buffett sell when rate hikes were first announced?

Why didn't he just sell? Not just him, but other great value investors, Li Lu, Klarmann... It obviously gets 100% worse once rate hikes start. Consumer spending slowly goes down. And often times, a recession happens. So why didn't they sell, then buy back after the 5th rate hike, or when rate hikes stop, or immediately after rate reductions start? It's not "timing the market" when you know the stock market will 100% go down when rate hikes happen and a likely recession. Burry sold in Q2. So it's not like these big super-investors can't sell for some reason. And they don't even have to time the market perfectly when buying back. They could sell, wait just 2 months and get discounted stocks, or wait 6 months. Those alternatives seem better than holding all the way through. Of course they're in it for the long-run. Burry is too. But it seems like an obvious time to sell at the beginning of rate hikes and rebuy later. I didn't sell because I was a noob. I started investing at the top. I didn't know any better. But now I know. Next time they announce rate hikes 5 or 10 years from now, I'll just sell every except healthcare, consumer-staples, insurance and certain commodities --and buy back at a later time. Even if I don't buy back at the very bottom, I'll be better off than the ones who held through. Educate me please. There must be a good reason these brilliant super-investors didn't sell. It's not like they thought there was a possibility of 2-3 rate hikes, then that's all. They know what they're doing. I'm just trying to understand. BTW is Berkshire's stock portfolio beating the market YTD? Could it be green? I know the business is more than its stock holdings. Maybe their holdings are actually green. Much of their stock picks are bearish and do well in all climates. I wonder what his average cost is for AAPL is. I'm annoyed that I didn't sell. Rate hikes continue, but I'm holding, because we're so far into it. My picks are deep in value territory. I'm down as much as the market. Not bad for a noob.

ValueInvesting

For Buffett, sell to who? He's got a $300B portfolio, he can't just wake up one monday and say I should get out of the market, and be out by Thursday. It's a many month process to get out without crushing the prices of stocks he's selling. Burry only manages about $1B, he can get out in a couple weeks. Secondly, Buffett has never said he believes he can predict the market. What if inflation had been transitory? What if the Fed stopped raising rates? Personally I have been preaching we are headed for a huge bear market for over a year, and even now think we aren't even close to the bottom. But I've stayed fully invested because I believe what I own is at a large discount to their intrinsic value, even with higher rates. But I'm not buying large caps either.

iuu7bu

Almost went bankrupt building my first house. sharing the lessons learnt

I'm in a philosophical and reflective mood. I've recently concluded a 3+ year legal battle against my builder (2 x house builds) and the VIC building insurer. And whilst I'm pleased with a $350k payout, I must say I'm absolutely horrified for the average person or family should they find themselves in a similar situation. With a bit of luck, a high income job, no lifestyle expenses or kids etc, I only just managed to not go under/bankrupt. And so I thought I'd share with you guys my experience in building my first house in my 20's. For background, I work in finance, make good money, and I am educated. I started building 2 x houses in 2016 and part way through construction the builder ran out of money, didn't renew his builders license (building illegally at this point), let his site insurance lapse (in breach of contract), generally just lied about everything, and essentially committed fraud. I ended up engaging lawyers because the relationship with builder wasn't salvageable, and I ultimately terminated the construction contract with the builder and subsequently attempted to make an insurance claim in 2017 (insurance in VIC is mandatory for construction jobs $16k+, to enable an home owner to claim should a builder die/bankrupt/insolvent). Insurance denied my claim and I was left holding the bag for 2 x incomplete houses, and hemorrhaging cash on $1m debt from original mortgage + the construction debt. Vic Building Authority (VBA) and every other government agency could not have cared less, provided no assistance to me or the situation, even though the builder warranty insurance is actually via the VIC government. Things got really bad once I terminated the contact, I had sub contractors making death threats to me and breaking in to the properties because they hadn't been paid by the builder and they wanted me to pay them. I even had to sleep on the floor of the houses with no water/electricity/toilet. I had to take these measures because the properties were uninsured for a period of time because nobody wanted to insure incomplete houses. However I did eventually find an Insurer after a few weeks of research, and I could eventually return back to sleeping in a proper bed. Soon after i ended up engaging another builder to complete the houses, and I had to cash fund all the cost over runs... because it always costs more to get a 2nd builder to take on the risk of a partly build property. It cost me $100k+ in legals, building inspectors and additional construction costs in order to complete. And I had to cash fund all of this whilst servicing a $1m+ loan. Brutal! I did eventually finish the construction of the houses with the 2nd builder, some 18 months behind original schedule and after spending an additional $100k+. And so, with good legal advice, I then went to work taking the original builder to VCAT, and won a multi 6 figure judgement against the builder. The builder obviously didn't pay and thus defaulted, which then represented a trigger for the building warranty insurance policy. And so again, with good legal advice, i made an insurance claim in 2019. And after a year of stuffing around with lawyers, VCAT submissions against the insurer, and time wasting by the insurer, I obtained a $350k payout in late 2020. Some 3 years after my first attempt at a insurance claim! The unfortunate reality is that with 2 x uninsured properties and a dodgy builder, I was ultimately exposed to potential personal bankruptcy. Fortunately I'm young, high income job, no kids/expenses, so I just managed to crawl my way out with alot of stress and pure grit. But I'm absolutely terrified that if I was the average Joe or family, there would have been no chance to find a lazy $100k laying around in a bank account, nor the ability to service a mortgage + rent + lawyers etc. Families would be destroyed in such circumstances. This sort of stuff just shouldn't happen. And so I share the above story, and my lessons below, with you all. Lessons learnt: - There are dodgy and shonky people in every industry, including construction. Watch out! And do your due diligence on the builder. - Don't let yourself get bullied by builders and sub contractors. I'm young and 6 foot 2 inches and 90kg and used to fight at amateur level, and I even felt exposed when confronted with death threats and break ins and sub contractors demanding money. FYI - police didn't care about the death threats. - the residential construction industry, for the average Joe/family building a house, is disgraceful and full of risk. There are more protections in place for a $20 toaster than for building your biggest financial asset, a house. If I didn't have a bunch of cash I would have had to wait 3+ years for the successful insurance claim to then have been able to start completing the houses. How is that even remotely fair? - Make sure you have a 20% contingency allowance when building a house. If it goes bad you'll be up for minimum $30k in legals, $10k in inspections/reports, and $10's of thousands in cost over runs to complete with a new builder. - building warranty insurance is a joke and won't save you unless you have lots of $$$ to fight for it. Don't rely upon it. It took me 3 years and lawyers to make a successful claim. The insurer even engaged their own external legal counsel to represent them and fight me. - once you sign a construction contract, you hand over control of the site to the builder. If the builder doesn't have insurance, and let's say there is a fire, you only have recourse via sueing the builder. Most builders have $0 in their companies. Make sure the builder has site insurance (this is separate to Building warranty insurance). - insurance in VIC caps out at $300k per property. And also has a 20% payout cap on cost over runs. Eg. If your original build is $500k and builder goes belly up, you can only claim $100k in additional costs to complete the house. You can separately make a claim for any defects in addition to this (with an overall hard cap of $300k for the policy). - when your back is against the wall. Fight hard for what is right and what you deserve. I'm horrified with my insurance claim experience. Most people would give up vs fighting for 3 years and spending 10's of thousands in legal fees. - learn from your experiences in life, including the bad ones, and get back on the horse all the more wiser and with your eyes open. - have sympathy for people. I know sub contractors who worked on the job who lost tens of thousands of dollars due to the builder going belly up, some of their businesses failed and marriages broke down. I feel horrible for these guys and their losses. - be humble and share your experiences and learnings with others Peace! And hope everyone stays safe

AusFinance

Damn man good job for fighting it to the bitter end. The building industry needs a fucking enema. So who was the shit heel insurance company that fought you on this so Australia knows to avoid them like the plague?

a1ueuu

BUYING.com PLATFORM

Buying.com is the first e-commerce protocol that allows consumers to buy directly from manufacturers, wholesalers and distributors. It’s the next generation of Decentralized E-Commerce Platform that harnesses the power of distributed ledger technology along with innovations in Bulk Pricing, Real-time Logistics, E-Commerce and Cryptocurrency. Our Prime Protocol feature, WeBuy*, will hit MOQ levels of retailers, manufacturers, wholesalers, or liquidators to offer the best possible pricing on products. Each individual will receive the best pricing by combining their purchasing power with other people interested in buying the same products.

crypto_currency

The current ecosystem for e-commerce has evolved from the mid-90s during the first wave of Internet technologies, with most major brands and retailers maintaining a web and mobile e-commerce presence. In addition, several dominant players such as Amazon.com, Walmart.com, and others have emerged for mass market retailing of a wide variety of products.

a1ueuu

BUYING.com PLATFORM

Buying.com is the first e-commerce protocol that allows consumers to buy directly from manufacturers, wholesalers and distributors. It’s the next generation of Decentralized E-Commerce Platform that harnesses the power of distributed ledger technology along with innovations in Bulk Pricing, Real-time Logistics, E-Commerce and Cryptocurrency. Our Prime Protocol feature, WeBuy*, will hit MOQ levels of retailers, manufacturers, wholesalers, or liquidators to offer the best possible pricing on products. Each individual will receive the best pricing by combining their purchasing power with other people interested in buying the same products.

crypto_currency

Despite the challenges ahead, **Buying.com** is among the leading ventures forging with using blockchain to instill changes in e-commerce. While the anticipated changes might not happen soon, Buying.com puts the consumers in a much better position compared to the existing e-commerce structure in an entirely different way.

tppsnc

Why does real estate in Japan, seemingly unique among developed economies, behave as a depreciating asset?

What is going on with their housing and land valuation setup that home ownership functions in the opposite manner to other national peers, where real estate prices consistently increase despite decreasing property conditions?

AskEconomics

Earthquakes, population decline, and arguably some policy related to zoning. First off, we should note its the house, and not usually the land that depreciates. This is in large part because of earthquakes. People do not want to buy old houses because they dont meet the most recent earthquake standards. Earthquakes also cause structural damage sometimes, so older houses may be less safe. https://www.economist.com/finance-and-economics/2018/03/15/why-japanese-houses-have-such-limited-lifespans https://www.google.com/url?sa=t&source=web&rct=j&url=https://www.ier.hit-u.ac.jp/hit-refined/wp-content/uploads/2013/12/wp.044.pdf&ved=2ahUKEwiboY2Kqef2AhWHKs0KHVJ9AbYQFnoECC8QAQ&usg=AOvVaw364kI7GjA3_AuXFVQAtYzH Youth cohorts are also small compared to the population, and population is declining, limiting demand. https://upload.wikimedia.org/wikipedia/commons/5/55/Japan_Population_by_Age_1920-2010_with_Projection_to_2060.png Some people argue that zoning laws play the largest part in this--mainly that there is little form of zoning in Japan at all. I think it has a limited impact, but given that this is a recent phenomenon and the zoning measures mostly aren't, I highly doubt this is the whole story*. In the 80s Japanese housing had insane price runs despite the zoning laws being quite similar. This would suggest that recent population pressures are a very significant part of the lower increases, or in some areas decreases, of housing costs. So I wont go into detail on these policies. https://en.m.wikipedia.org/wiki/Japanese_asset_price_bubble .https://amp.scmp.com/magazines/style/news-trends/article/3091222/japan-1980s-when-tokyos-imperial-palace-was-worth-more

ht5mme

Why is the financial sector able to maintain such high wages and profits compared to other professional services sectors? Why doesn’t this attract more competition that results in wages and profit margins being forced down?

Wall Street has essentially no artificial restriction on the amount of people who can achieve the credentials required to enter the industry, unlike, say, medicine, which is restricted by the amount of medical school graduates, which is turn restricted by the number of medical schools. Also, it is not a winner take all industry, the way, say, social media or entertainment is. To that end, why are investment banks and hedge funds able to maintain such high margins and salaries that aren’t present in other fields? Oddly, in spite of there being orders of magnitudes more hedge funds now than in 1980, there is very little in the way of price competition. The 2 and 20 compensation model has remained the standard in spite of middling performance from most funds. How is the sector able to get away with this when other sectors are not? For example, structural engineers aren’t able able to charge 2% of a buildings construction cost annually in perpetuity as long as it doesn’t fall down because there are other firms that will work for $150/man hour with no residuals. Why hasn’t this happened in finance? However, on the other hand, unlike hedge funds, there seem to be essentially no startup investment banks. If you look at the top investment banks, basically none were founded recently (mergers excluded). One would think that the profitability of the sector would drive lots of startups, but it doesn’t happen. What economic factors make the financial sector unique in being able to prevent competition from destroying their huge profits and commensurate wages?

AskEconomics

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kvcg2t

FatFIRED at 35

$3.2M in investment accounts + $650K in real estate equity ( Two 4 plex rentals) I live in a MCOL city and quit my job this morning ( well.... Put in my two weeks ) . My rentals pull in about $50k profit per year and I'll be withdrawing $70k /year from my investment account. With my lifestyle of mtn biking , skiing, and camping living on $120k / year should be very easy. I currently own my dream home ( equity not factored into NW) . However, I plan on renting/AirBNBing it out and traveling with my partner. My living expenses are pretty much a wash from what I pull in renting the house vs spend on accomodations while traveling. So how did I get here? I worked at Tesla for 5 year's before the stock was above $30/share. Then transferred to a FAANG which has done very well. I've held on to my Tesla options and sold them off as certain price points have been met. Looking back - the riskiest thing I did was doing nothing with the Tesla options. I sold off a fair share to purchase rental properties / main house / cars. If I would have sat on it I would have had $10M + . But I'm okay with the measly $3.8M I have now :) I plan on having a kid or two, continue exploring the world, and dedicating my time to others. But for now , I'm going to enjoy a beer in the backyard. There's a memory I have doing the math of buying a house with my first jobs $50k salary at 25. Sitting in my car thinking how the fuck am I suppose to make any of this work. A lot has changed in 10 years, but this memory guides me whenever I felt lost. Cheers!

fatFIRE

Hah I guessed TSLA before I clicked on the post. I missed out on my chance to fatFire when I declined a TSLA job offer with $400k worth about 3 years ago. --- Question: how do you plan on paying for health insurance btw? I always wondered what fired people do for benefits when they don't qualify for programs aimed at 60+. Obamacare plans are expensive for what they offer.

nazyz3

Shorts MUST cover!

EDIT: To those of you coming from r/all, this is the video we're referring to. Its important. https://www.youtube.com/channel/UCI4EET9NJPWxUuXGlG6fxPA **Ok. Before the FUD gets out of hand.** It was my fault for not directly asking if the short position in **GameStop** must be covered. His answer was in response to the **HISTORY of shorts not having to cover.** This only happens when short sellers are able to drive the target company into the ground. I believe his full answer addressed this fact. This was MY fault for misguiding the question. Obviously, he talked for a very long time about the number of phantom shares that are circulating within the market. He also stated that GameStop is a prime example of this. Phantom shares resulted from hyper-shorting with the intent of driving GameStop into the ground. When retail investors refused to sell through the onslaught of market manipulation, it reversed the game in our favor. There is a very high chance, as he stated, that the shareholder vote will reflect the presence of continuous short selling (naked & otherwise) because the problem is SO LARGE that even the "back-office" guys can't sort it out. He also explained that the SEC has been turning a blind eye to these situations because they are RARELY over 100%. If we are correct, it will be much harder for them to sweep this under the rug. Finally, his outlook on the SEC's current leadership, especially Gary Gensler, is positive. The perfect storm has arrived, **so please don't let a misguided question spoil the confirmation bias in that AMA!!**

Superstonk

Thank you for addressing this immediately Edit: I wish to add also that i have mad respect for atobitt to first admit his mistake before diving in to the explanation. I love the mods of this sub for being humble and caring for this community BUY HODL VOTE!

r5zzku

Why is Nvidia Valued so much higher than Intel?

Looking at a semi conductor market share chart it seems like Intel have been the leader since 2008 atleast. It has a p/e of 9.55 to Nvidas 100.88 and makes almost 3 times Nvidias income. I dont understand why Nvidias market cap is almost 4 times that of Intels. What am i missing here?

ValueInvesting

INTC feel behind on technology and picked up a reputation for fumbling rollouts while AMD and NVDA pick up a reputation for innovation and excellence. INTC got too big and took too long to respond to the challengers and INTC has been losing market share. INTC has a good looking lineup of new chips rolling out over the coming year and has a good chance of stopping up the market share losses. INTC also has made a lot of investments in upcoming tech and should be poised for a big rebound but right now momentum is against it and momentum is with it's competitors. INTC is a safe buy at these prices but I don't know when the market will start giving it an appropriate valuation. I have been long for over a year and it has not paid off. Frustrating to watch NVDA and AMD just rocket to crazy valuations.

l7bpf5

30 Seconds From Triggering Market Nuclear Bomb

I'm glad this place has quieted down enough for some actual DD written by a monkey with a keyboard and Adderall. Disclaimer: I am that monkey. Let me explain to you what happened, play by play. I will give you illiterates who hate reading a spoiler up front: __We were within approximately 30 seconds of triggering a nuclear bomb that would have blown up the market.__ Do I have your attention? Here goes: 1. ⁠Yesterday, new call option strike prices were added all the way up to $570. Do I have to go over gamma squeezes again? Really? We've been over this: when deep out-of-the-money call options start being gobbled up and the price starts moving towards being in-the-money, the call writers have to hedge their risk of having their sold calls exercised, typically by buying stock. This creates upwards pressure on the market. We've been seeing these movements all week. 2. ⁠Yesterday after market, you probably saw that coordinated effort to drive the price down and spook retail investors into a mass sell-off. It didn't work. 3. ⁠Last night, Robinhood sent out a message to users: you could no longer enter into new options. You could exercise them if you had the collateral (money in the account) to do so. Very interesting and the first sign of pants-shitting fear. 4. ⁠Today, the market opened very strong. It opened so strong that we were looking at a self-perpetuating gamma squeeze all the way up way past $570. 5. ⁠At approximately 9:58 am, the stock had reached $468 in a parabolic move. 6. ⁠Two minutes earlier, at 9:56 am, Robinhood tweeted that they were not allowing users to buy GME stock, but they would allow selling. 7. ⁠The trend instantly halted and started a collapse downwards, before picking up a bit, especially after some retail was allowed back in. Okay, now that you are clear on the facts, understand this: The market ran out of liquidity today, or was threatening to get close enough that they killed it. What does that mean? It means they ran out of shares and/or capital. They wouldn't let you buy new shares because we were burning through all the shares on the market. __I saw an unsubstantiated post from a user ([u/zshub](https://www.reddit.com/r/wallstreetbets/comments/l7bpf5/30_seconds_from_triggering_market_nuclear_bomb/gl5vgof/?utm_source=share&utm_medium=ios_app&utm_name=iossmf&context=3)) who said a market sell order executed at $2600 for him. Also, someone else for over [$5,000](https://www.reddit.com/r/wallstreetbets/comments/l7em07/coworker_had_a_limit_executed_of_a_little_over/?utm_source=share&utm_medium=ios_app&utm_name=iossmf) per share. Do you get the severity of the situation, if that's true?__ It means the buying was getting to the point where it was just about to put INFINITE pressure on the price of the shares. It means virtually any ask was getting bid. How do you get infinite upwards pressure? A gamma squeeze triggering the mother of all short squeezes, just like we predicted. The call writers need shares to hedge. Retail is still buying more. The short sellers need over 100% of the float back. Add these together. There were more shares needed than existed on the open market. That's what a liquidity crisis is. [Listen to this ](https://youtu.be/7RH4XKP55fM)to this remarkable (if infuriating) interview where the chairman of Interactive Brokers admits that they didn't have the capital to pay out the winners (us), so they took their ball and went home. DO YOU GRASP HOW INSANE IT IS THAT HE SAID THEY NEEDED TO SHUT DOWN BUY ORDERS TO "PROTECT THE MARKET"? Hello! He's not talking about the market for GME shares. He's talking about the entire market! The New York Stock Exchange. The NASDAQ. All that. Remember the movie Snowpiercer? Do you remember that scene where the lower class people realize the soldiers who oppress them have no bullets? Go to the 1:00 minute mark of this link: https://www.youtube.com/watch?v=EH1EtiOhr6o It kick starts a full blown rebellion. They have no bullets. It's the exact same in this market: No capital. No shares. Infinite losses inbound. __TL;DR: For all you who will just skip to the bottom to ask, "Do I get my tendies now?" the answer is this: they NEED NEED NEED your shares. Do you get that? HOLD. Like the guy in the movie, scream, "They're out of bullets!" and create a stampede. That's how we win.__ They needed your shares so badly that they literally risked PRISON TIME to get them. They tried robbing you, and I'm not even exaggerating. They were within 30 seconds of all being wiped out today. Credit: u/PlayFree_Bird

wallstreetbets

Man, when I tell my kids that I bought some stock in a game shop because a retard on the internet told me to and a month later the entire stock market collapsed, they are gonna think I’m a bullshitting old idiot. Holding until infinity as per 🙏🏻

s2zh73

To r/ALL: 1 Year ago, the most unprecedented move in the history of the stock market happened. The Buy Button was turned off for a specific stock. 1 year later and there have been NO CONSEQUENCES. No one went to jail. Was there even a fine? Why? How is the answer not going to sound like a conspiracy

I read about GME investors being a bunch of nut job conspiracy theorists and I get it. I read the shit on these forums and a lot of it is some of the dumbest shit I've ever read. Some of it sounds like intelligent analysis and some of it sounds like pure tin foil batshit insane conspiracy theories. But can we step back and appreciate how FUCKING INSANE it is that the buy button was turned off? Un-fucking-precedented. Turned off right when Wall Street was about to get 2008'ed? The chairman of the SEC straight up said, "We had to protect the clearinghouses." Aka, the core of Wall Street was about to get 🍆 in the 🍑. WHY? Why does people investing in a "dying brick and mortar" result in a multi trillion dollar industry getting destroyed? How has everyone just moved on from that to calling GME investors insane? HOW DOES THAT MAKE SENSE? How come the average person that got fcked in 2008 had to just take it? Why were they not similarly protected? And how does 1 tiny company nearly shut down the entire world's financial system????????? These are the questions GME investors were asking. The questions EVERYONE ON PLANET EARTH should have been asking. As insane as all of the above is. And I cannot stress enough how insane it really is. Get this, there have been NO CHANGES SINCE. WHAT. THE. FUCK. Ok, fuck the consequences. Fuck sending people to jail. Fuck even fining the idiots/criminals that caused the above. At least make some changes to the market? Fucking do *SOMETHING*? How have there been no changes to the market to stop the above? Nothing? Really? 1 year from the day a <10 billion dollar "dying brick and mortar" nearly took down multi trillion dollar wall street and NO CHANGES? Billionaires were crying on national television. They didn't do that in 2008 as far as I can remember. How are the answers to any of the above questions not going to sound like a crazy bat shit insane conspiracy theory?

Superstonk

I see SuperStonk on the front page I'd say around three times a day Even if people outside these subreddits aren't involved with stocks or GameStop, the awareness to the extent of corruption will have massively increased over the last year I think if and, in my opinion, when the rug gets pulled like this again, the amount of heads turning will only increase I'm not in a cult, I am just sick and tired of corruption and want free markets to actually be free The occupy Wall St protests were mocked. It is now time to liquidate Wall St. This is where I am taking my stand

u3626w

Why don’t you own Berkshire Hathaway?

Straight forward, this sub praises and follows the advice of Warren Buffett and Charlie Munger. I’m assuming many of you do own Berkshire but if not, why not?

ValueInvesting

I don’t own it - to my detriment - but here’s the reasons 1) Warren/Charlie do not have a lot of years left, I don’t have confidence in Abel and am not willing to see how he does with the training wheels off. 2) There are better businesses in many of their conglomerates (eg buy Progressive instead of Geico). I get that you lose the float leverage but am willing to do that. 3) Can replicate their OTC holdings if I wish, I’m not interested in buying an Apple, Verizon, etc holding company 4) I hate owning insurance companies and banks, personal bias 5) Difficult to value, especially after Accounting Standards Update No.2016-01 to mark fair value. This is more laziness on my part and I don’t want to do a P/B shorthand. 6) Despite an amazing investment in Apple I still feel this company doesn’t understand the tech sector and that is where outsized market gains will continue to come from even with rising rates. Investments in IBM and HP are just scary. Again, not looking for a holy war here with BRK holders, I admit I’ve been wrong on it before and wish I owned it the last 12 months. Just not a good fit for me. I’ll be rooting for it from the sidelines!

qtxwl2

Got 400k saved

I need advice on what to do with my savings. I got 400k saved after working for 7 years on 180k a year salary. I never buy a stock or invest in anything. I just save , save save . I just turn 33 and wonder what I can do or invest into so I can retire sooner. Any advice will be welcomed.

realestateinvesting

> I never buy a stock or invest in anything. I just save , save save . /r/personalfinance/wiki You kinda fucked up because you missed out on a major bull market. If you'd been properly handling that money by investing it you'd likely have a net worth of over $1M by now.

mpksjv

What’s stopping me from buying these $300-400 plots of land on eBay?

Is there any catch to these? I found a lot in particular for sale on eBay that I could buy just for fun. They are $300-400 and claim the property tax is just dollars a year. I’m a newbie to buying any kind of property. I’m in college.

realestateinvesting

sometimes land has no egress or access - so you would be screwed if you bought that. sometimes the land is not a legal plot or it has title issues - so you would be screwed. it could be in a "wetland" or other protected zone - you would be screwed. it could violate local zoning by being shaped wrong, too small, zoned incorrectly, illegally subdivided - you would be screwed. the seller may owe more taxes on it than the land is worth - screwed. there might be 25 people who own the land in 25 pieces and you are only getting 1/25th of it - ahem, screwed. Need I go on? Talk to a title office or attorney near you. land has a LOT more to it than meets the eye.

p1w9k5

Fat Dating - Anyone successfully used millionaire matchmaking services to find a wife?

Throwaway account here. I hope this is the right place to ask this question. I'm 39, male, heavily considering millionaire matchmaking service(s) to find a serious girlfriend / wife My net worth is about $20M, mostly liquid, mostly from senior roles in high growth startups, and some long-term investments. I've been single for almost six years now. Spending covid alone, in particular, has been rough. At this point, I'm struggling to meet "quality" women since I don't work at a company, most of my friends are married, and I only sometimes go to bars to catch up with friends. No clubs or festivals or anything like that. I've tried dating apps like Bumble and Hinge, but at my age, I'm finding it hard to get good matches. I don't like to show off my wealth, and am not very tall or good looking. I do have several hobbies like golf and sports cars, but those haven't been great meeting grounds either. Which brings me to my question: Has anybody tried millionaire matchmaking services and how did it go for you? I've done some online research but have yet to contact any. There is one that seems to focus on Silicon Valley and those with a tech background, but I don't want to mention any specific names. I'm open to any and all services that could help. What suggestions do you have if any? I'd really like a partner to share this next part of life, and I'm willing to spend money or relocate to do this. It's probably some personal issues, and being too picky, that's led me to where I am, but I'd really like to fix it. Thanks for any advice or resources or even just good stories!

fatFIRE

\>It's probably some personal issues, and being too picky, that's led me to where I am, but I'd really like to fix it. Work on yourself rather than looking for someone who will overlook your flaws because of your money. Make going to the gym and therapist your new hobbies. You'll be happier in the long run.

u4dd5j

Could billionaires eventually team up and legally "buy" countries to run them?

E.g. Greece went bankrupt a while ago. Since the country can't just disappear like a company, is there a possibility that billionaires will eventually give out private loans or even buy the country to run it?

AskEconomics

No. Countries are not companies. It's certainly possible that a billionaire could fund a coup or other illegal means to seize control of power, but there is no legal mechanism to buy control of a country.

a1x5wu

Uptherium – Crypto apps hub, rising community, an easier way to earn!

PRESENTATION It is no current story that cryptocurrency is a digital currency which was brought into existence through the use of advanced encryption techniques known as cryptography and powered by Blockchain technology. While this revolution is gaining wide acceptance, Imagine, accessing a crypto hub of apps that meet your everyday crypto needs! It’s never been easier, to use crypto in your daily life with a variety of apps all through one ecosystem. For instance, apps that even if you’re a newbie help you trade the market like a pro, apps that make it easy to spend crypto you’ve earned at some of your favorite online stores like Amazon, eBay, Etsy even pay for your morning cup of coffee. But before we go any further, please check out this video presentation to get even more acquainted Now that I have your attention, let’s get right to it.

crypto_currency

Upthinity faced this problem too and it was pretty frustrating. Just because the blockchain is an emerging technology shouldn’t mean you need engineer-level understanding and a marathon-runner’s stamina to get involved.

scs84v

What are the most contested and cutting-edge questions in economics today?

What are some major questions that the most respected economists are working on today? Is there any issue that has two "evenly matched" sides and no true consensus yet?

AskEconomics

Economics is a huge field with a *lot* of topics being researched. Just a select few off the top of my head: - In the macro world, why are interest rates so low (not just today, but even pre-COVID)? There are a [number of competing theories](https://www.reddit.com/r/AskEconomics/comments/s4zs7s/why_are_longterm_interest_rates_so_low_is_larry/hsus29m/?utm_source=share&utm_medium=ios_app&utm_name=iossmf&context=3), with the main ones being global savings glut, secular stagnation, and a shift towards less risky assets (this is explored in more detail in the link). - In labor economics, the effects of minimum wage on employment is still frequently researched. The [FAQ](https://www.reddit.com/r/Economics/wiki/faq_minwage/) covers the topic well. Research has revealed that minimum wages don’t always lead to large employment losses, so most research today is focused on the question of at what level (or under what conditions) minimum wages could become more problematic. - In developmental economics, there is lots of cool research going on trying to answer the question of “how do we make very poor people better off?” I highly suggest “Poor Economics” by Banerjee & Duflo (2019 Nobel laureates) as a non-technical read on the subject. It remains my favourite non-technical econ book. - Climate economics is a very active field. We’re still learning about the many inter-connected ways that climate change will impact the world, and thus the economy.

nlwaxv

House of Cards - Part 2

***Prerequisite DD:*** 1. [Citadel Has No Clothes](https://www.reddit.com/r/GME/comments/m4c0p4/citadel_has_no_clothes/) 2. [The EVERYTHING Short](https://www.reddit.com/r/GME/comments/mgucv2/the_everything_short/) 3. [The House of Cards – Part 1](https://www.reddit.com/r/Superstonk/comments/mvk5dv/a_house_of_cards_part_1/) \_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ **TL;DR-** **No freaking way I can do that.** **\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_** **1.** **Pilot** I wasn’t looking into GameStop when all of this began. Most of my time was spent researching the pandemic’s impact on the economy. I’m talking about the economic steam engine that employs people and puts food on their tables. Especially the small businesses that were executively steamrolled by COVID lockdowns. It was scary how fast they had to close their doors. I spent a lot of time looking at companies like GameStop. Brick-n-mortar businesses were basically running out of bricks to sh\*t. Frankly, GameStop looked a lot like the next Blockbuster and it just seemed like a matter of time before they went under. Had DFV not done his homework, it's possible we wouldn’t have a rocket to HODL or a story to TODL. Whoever has/had a short position with GameStop was probably thinking the same thing. The number of shares that can be freely traded on a daily basis is referred to as “the float”. GameStop has 70,000,000 shares outstanding, but 50,000,000 shares represented “the float”. With a small float like this, a [short position of 20% becomes significant](https://bullishbears.com/vw-short-squeeze/). Heck, Volkswagen got squozed with just a [12.8%](https://bullishbears.com/vw-short-squeeze/) short position. So let’s use little numbers to walk through an example of how this works. Assume VW has 100 shares outstanding. If 12.8% of the company has been sold short, then 12.8 shares (let’s just say 13) must be available to purchase at a later date (assuming VW doesn’t go bankrupt). However, VW had a float of 45% which meant there was no real strain to cover that 12.8% short position at any moment. However, when Porsche announced they wanted to increase their position in VW, they invested HEAVILY. *“The kicker was that Porsche owned 43% of VW shares, 32% in options, and the government owned 20.2%.... In plain terms, it meant that the actual available float went from 45% down to 1% of outstanding shares” (bullishbears.com/vw-short-squeeze/).* Let’s revisit our scenario. With 100 shares outstanding and 13 shares sold short, what happens if only 1 share was available to cover instead of 45? Well….. THIS: ​ https://preview.redd.it/c1n24ypq5k171.jpg?width=348&format=pjpg&auto=webp&s=2401d50c3ec1197e08564be1ffbd643558e52b6a \_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ GameStop is/was the victim of price suppression through short selling. I discussed this topic with [Dr. T](https://www.youtube.com/watch?v=fGVY2Kco8ng) and [Carl Hagberg](https://www.youtube.com/watch?v=KHnpPfWdf78) in [our AMAs.](https://www.youtube.com/watch?v=KHnpPfWdf78) Every transaction has two sides- a buy and a sell. Short selling artificially increases the *supply* of shares and causes the price to decline. When this happens, the price can only increase if *demand* exceeds the increase in supply. I started looking closely at GameStop after confirming their reported short position of [140%](https://www.reuters.com/article/us-retail-trading-congress-shorting/short-selling-under-spotlight-in-gamestop-hearing-idUSKBN2AJ026). It’s important for me explain this why this is so much different than the VW example… 140% of GameStop’s FLOAT was sold short. There were 50,000,000 shares in that float, so 140% of this was equal to the 70,000,000 shares the company has outstanding. This means AT LEAST 100% of their outstanding shares has been sold short. Now compare that to VW where the short position was only 12.8%... Simply put, it is mathematically impossible to cover more than 100% of a company’s outstanding stock. The *peak* of the VW squeeze was reached when the demand for shares became surpassed by the supply of those shares. Here, demand represents 12.8% of their stock which must be available to close the short position. With only 1% of shares available, this guaranteed a squeeze until the number of shares available to trade could satisfy the remaining short interest. When a company has a short position with more than 100% of total shares outstanding, the preceding argument is thrown out the window. Supply cannot surpass demand because the company can only issue 100% of itself at any given time. Therefore, the additional 40% could only be explained by multiple people claiming ownership of the same share... Surely this is a mistake.. right? I thought this level of short selling was impossible.. ..Until I saw the number of short selling violations issued by FINRA.. As we go through these FINRA reports, there are a few things to keep in mind: 1. **FINRA is not a part of the government.** FINRA is a non-profit entity with [regulatory powers set by congress](https://www.finra.org/about). This makes FINRA the largest self-regulatory organization (SRO) in the United States. The SEC is responsible for setting rules which protect individual investors; FINRA is responsible for overseeing most of the brokers (collectively referred to as members) in the US. As an SRO, FINRA sets the rules by which their members must comply- **they are not directly regulated by the SEC** 2. FINRA investigates cases at their own pace. When looking at the “*Date Initiated”* on their reports, it is not synonymous with “*date of occurrence”.* Many times, FINRA will not say when a problem occurred, just resolved. It can be YEARS after the initial occurrence. The [DTC participant report](https://www.dtcc.com/-/media/Files/Downloads/client-center/DTC/alpha.pdf) is littered with cases that were initiated in 2019 but occurred in 2015, etc. Many of the violations occurring today will take years to discover 3. FINRA can issue a violation for each occurrence using a 1:1 format. When it comes to violations like short selling, however, these “occurrences” can last months or even years. When this happens, FINRA issues a violation for multiple occurrences using a 1:MANY format. I discussed this event in [Citadel Has No Clothes](https://www.reddit.com/r/GME/comments/m4c0p4/citadel_has_no_clothes/) where one violation represented FOUR YEARS of market f\*ckery. What’s sh\*tty is that FINRA doesn’t tell you which violations are which. You have to read each line and see if they mention a date range of occurrence within each record. If they don’t, you must assume it was for one event… BRUTAL 4. FINRA’s investment portfolio is held by the same entities they are issuing violations to… Let that sink in for a minute \_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ **2.** **State your case…** Can you think of a reason why short sellers would want to understate their short positions? Put yourself in their situation and imagine you’re running a hedge fund… You operate in a self-regulated (SRO) environment and your records are basically private. If the SEC asks you to justify suspicious behavior, you really don’t have to provide it. The worst that could happen is a slap on the wrist. I wrote about this EXACT same thing in [Citadel Has No Clothes](https://www.reddit.com/r/GME/comments/m4c0p4/citadel_has_no_clothes/). They received a cease-and-desist order from the SEC on 12/10/2018 for failing to submit complete and accurate records. This ‘occurred’ from November 2012 through April 2016 and contained deficient information for over 80,000,000 trades. Their punishment… $3,500,000… So why even bother keeping an honest ledger? Now, suppose you short a bunch of shares into the market. When you report this to FINRA, they require you to mark the transaction with a short sale indicator. In doing so, FINRA builds a paper trail to your short selling activity. However… if you omit this indicator, FINRA can’t distinguish that transaction from a long sale. Who else would there be to hold you accountable for covering your position? This is especially true for self-clearing organizations like Citadel because there are less parties involved to hold you accountable with recordkeeping. If FINRA thinks you physically owned those shares and sold them (long sale), they have no reason to revisit that transaction in the future… You could literally pocket the cash and dump the commitment to cover. Another very important advantage is that it allows short sellers to artificially increase the supply of shares while understating the outstanding short interest on that security. The supply of shares being sold will drive down the price, while the short interest on the stock remains the same. So.. aside from paying a fine, how could you possibly lose by “forgetting” to mark that trade with a short sale indicator? It would seem the system almost incentivizes this type of behavior. I combed through the [DTC participant report](https://www.dtcc.com/-/media/Files/Downloads/client-center/DTC/alpha.pdf) and found enough dirt to fill the empty chasm that is Ken Griffin’s soul. Take a guess at what their most common short selling violation is.. I’m going to assume you said **“FAILING TO PROPERLY MARK A SHORT SALE TRANSACTION”.** For the record, I just want to say I called this in March when I wrote [Citadel Has No Clothes](https://www.reddit.com/r/GME/comments/m4c0p4/citadel_has_no_clothes/). Citadel has one of the highest concentrations of short selling violations in their FINRA report. At the time, I didn’t fully understand the consequences of this violation… After seeing how many participants received the same penalty, it finally made sense. There are roughly 240 participant account names on the DTC’s list. Sh\*t you not, I looked at every short selling violation that was published on [Brokercheck.finra.org](https://brokercheck.finra.org/). To be fair, I eliminated participants with only 1 or 2 violations related to short selling. There were PLENTY of bigger fish to fry. I literally picked the first participant at the top of the list and found three violations for short selling. \*cracks knuckles\* [ABN AMRO Clearing Chicago LLC](https://files.brokercheck.finra.org/firm/firm_14020.pdf) (AACC) is the 3rd largest bank in the Netherlands. They got popped for three short selling violations, one of which included a failure-to-deliver. In total, they have 78 violations from FINRA. Several of these are severe compared to their violations for short selling. However, the short selling violations revealed a MUCH bigger story: https://preview.redd.it/3t5ylyfz5k171.jpg?width=1055&format=pjpg&auto=webp&s=f961999d09eeee7fbe42364700cbc727869f9e3f So… ABN AMRO submitted an inaccurate short interest position to the NYSE and FINRA and lacked the proper supervisory systems to comply with… practically everything… In 2014, AMRO forked over $95,000 to settle this and didn’t even say they were sorry. In these situations, it’s easy to think *“meh, could have been a fluke event”*. So I took a closer look and found violations by the same participants which made it much harder to argue their case of sheer negligence. Here are a couple for AMRO: https://preview.redd.it/vir299076k171.jpg?width=1079&format=pjpg&auto=webp&s=e17e6ceff040a4be0113c1bc4e435f29fb5ce0a6 ABN AMRO got slapped with a $1,000,000 fine for understating capital requirements, failing to maintain accurate books, and failing to supervise employees. If you mess up once or twice but end up fixing the problem- GREAT. When your primary business is to clear trades and you fail THIS bad, there is a much bigger problem going on. It gets hard to defend this as an accident when every stage of the trade recording process is fundamentally flawed. The following screenshot came from the same violation: https://preview.redd.it/mnpm2gz96k171.jpg?width=733&format=pjpg&auto=webp&s=7e5c66293566b7ca2329f20bcdb634c35395943f [Warehouse receipts](https://www.investopedia.com/terms/w/warehousereceipt.asp#:~:text=A%20warehouse%20receipt%20is%20used,well%20as%20provide%20inventory%20management.) are like the receipts you get after buying lumber online. You can print these out and take them to Home-Depot, where you exchange them for the ACTUAL lumber in the store. Instead of trading the actual goods, you can trade a warehouse receipt instead… so yeah… since this ONE record allowed AMRO to meet their customer’s margin requirement, it seems EXTREMELY suspicious that they didn’t appropriately remove it once they were withdrawn. Do I think this was an accident? F\*ck no. Because FINRA reported them 8 years later for doing the SAME F\*CKING THING: https://preview.redd.it/sv0v5igw6k171.jpg?width=1071&format=pjpg&auto=webp&s=02f17082135c702fad6bbc064073ae031151cee7 Once again, AMRO got caught understating their margin requirements. Last time, they used the value of withdrawn warehouse receipts to meet their margin requirements. Here, they’re using securities which weren’t eligible for margin to meet their margin requirements.. You can paint apple orange, but it’s still an apple.. The bullsh\*t I read about in these reports doesn’t really shock me anymore. It’s actually the opposite.. You begin to *expect* bigger fines as they set higher benchmarks for misconduct. When I find a case like AMRO, I’ll usually put more time into it because certain citations represent puzzle pieces. Once you find enough pieces, you can see the bigger picture. So believe me when I say I was genuinely shocked by the [detail report](https://www.finra.org/sites/default/files/fda_documents/2016049875801%20ABN%20AMRO%20Clearing%20Chicago%20LLC%20CRD%2014020%20AWC%20va%20%282019-1572740384682%29.pdf) on this case… https://preview.redd.it/4lgyti547k171.jpg?width=844&format=pjpg&auto=webp&s=633a928d28caef8cc6719873532aef60f271cefb **This has been going on for 8 F\*CKING YEARS!?** Without a doubt, this is a great example of a violation where the misconduct supposedly *ended* in 2015 but took another 4 years for FINRA to publish the d\*mn report. If my math is correct, the 8 year “relevant period” plus the 4 years FINRA spent… I don’t know… reviewing?... yields a total of 12 years. In other words, from the time this problem started to the time it was publicized by FINRA, the kids in 1st grade had graduated high school… Does anyone else think these self-regulatory organizations (SROs) are doing a terrible job self-regulating…? How we can trust these situations are appropriately monitored if it takes 12 years for a sh\*t blossom to bloom? …OH! I almost forgot… After understating their margin requirements in 22 accounts for over 8 years, ABN AMRO paid a $150,000 fine to settle the dust… \_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ I know that was a sh\*t load of information so let me summarize it for you: One of the most common citations occurs when a firm “accidently” marks a short sale as long, or misreports short interest positions to FINRA. When a short sale occurs, that transaction should be marked with a short sale indicator. Despite this, many participants do it to avoid the borrow requirements set by Regulation SHO. If they mark a short sale as long, they are not required to locate a borrow because FINRA doesn’t know it’s a short sale. This is why so many of these FINRA violations include a statement about the broker failing to locate a borrow along with the failure to mark a short sale indicator on the transaction. It literally means the broker was naked short selling a stock and telling FINRA they physically owned that share.. Suddenly, a “small” violation had much bigger implications. The number of short shares that have been excluded from the short interest calculation is directly related to these violations… and there are HUNDREDS of them. Who knows how many companies have under reported short interest positions.. To be clear, I did NOT choose them based on the amount of ‘dirt’ they had. AMRO’s violations were like grains of sand on a beach and It’s going to take A LOT of dirt to fill the bottomless pit that is Ken Griffin’s soul. Frankly, ABN AMRO wouldn’t get us there with 10,000 FINRA violations. So without further ado, let’s get dirty.. \_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ **2.** **Call em’ out…** When FINRA publishes one of their reports, the granular details like numbers and dates are often left out. This makes it impossible to determine how systematic a particular issue might be. For example, if you know that *“XYZ failed to comply with FINRA’s short interest reporting requirements”* your only conclusion is that the violation occurred. However, if you know that *“XYZ failed to comply with FINRA’s short interest reporting requirements on 15,000 transactions during 2020”* you can start investigating the magnitude of that violation. If XYZ only completed 100,000 transactions in 2020, it means 15% of their transactions failed to meet requirements. This represents a major systematic risk to XYZ and the parties it conducts business with. I spent some time analyzing [Apex Clearing Corporation](https://files.brokercheck.finra.org/firm/firm_13071.pdf) after I left ABN AMRO. Apex is 8th on the list and the 2nd participant I found with an evident short selling problem. In 2019, FINRA initiated a case against Apex for doing the same sh\*t as ABN AMRO. However, the magnitude of this violation really put things into perspective: I got a small taste of how f\*cked this house of cards truly is.. https://preview.redd.it/u1b4zh6m7k171.jpg?width=1076&format=pjpg&auto=webp&s=0f14f5fa49e73dad79ff605464fc1c64fa73f5bd This is practically a template of the first ABN AMRO violation we discussed. To see the difference, we need to look at their [letter of Acceptance, Waiver and Consent](https://www.finra.org/sites/default/files/fda_documents/2016049448301%20Apex%20Clearing%20Corporation%20CRD%2013071%20AWC%20va%20%282019-1573777189509%29.pdf) (AWC).. https://preview.redd.it/zaiywobp7k171.jpg?width=938&format=pjpg&auto=webp&s=7fe2d2323e757efcdedf2ab22aa1ff34e10d7d55 Let’s break this down step-by-step… Apex had an issue for 47 months where certain customers recorded their short positions in an account which was NOT being sent to FINRA. It only takes a few wrinkles on the brain to realize this is a problem. The sample data tells us just how bad that problem is.. When you see the term “*settlement days”,* think “[T+2](https://www.schwab.com/resource-center/insights/content/stock-settlement-why-you-need-to-understand-t2-timeline#:~:text=the%20seller's%20account.-,When%20does%20settlement%20occur%3F,would%20typically%20settle%20on%20Wednesday.)”. Apex follows the T+2 settlement period for both [cash accounts and margin accounts](https://www.apexclearing.com/wp-content/uploads/2020/01/Apex-Customer-Information-Brochure-2019.pdf) which means the trade *should* clear 2 days after the original trade date. When you buy stock on a Monday, it should settle by Wednesday. Ok.. quick maff… There are roughly [252 trading days](https://therobusttrader.com/how-many-trading-days-are-there-in-a-year/) in one year after removing weekends and holidays. Throughout the 47 month “review period”, we can safely assume that **Apex had roughly 987** ((252/ 12) \* 47) **settlement dates**… **In other words: 256 misstated reports over 47 months is more than 1 misstatement / week for nearly 4 years.** Tell me again how this is *trivial?* The wording of the “sample settlement” section is a bit ambiguous… It doesn’t clarify if those were the only 2 settlement dates they sampled, or if they were the only settlement dates with reportable issues. Honestly, I would be shocked if it was the latter because auditors don’t examine every record, but I can’t be certain… Anyway… FINRA discovered 256 short interest positions, consisting of 481,195 shares, were *incorrectly* excluded from their short interest report. In addition, they understated the share count by 879,321 in 130 separate short interest positions. Together, this makes 1,360,516 shares that were excluded from the short interest calculation. When you realize nearly 1.5 million ‘excluded’ shares were discovered in just 2 settlement periods and there were almost 1,000 dates to choose from, it seriously dilates the imagination… Once again… FINRA wiped the slate clean for just $140,000… I want to talk about one last thing before we jump to the next section. Did you happen to notice the different account types that Apex discussed in their [letter of Acceptance, Waiver and Consent](https://www.finra.org/sites/default/files/fda_documents/2016049448301%20Apex%20Clearing%20Corporation%20CRD%2013071%20AWC%20va%20%282019-1573777189509%29.pdf) ? They specifically instructed their customers to book short positions into a TYPE 1 (CASH) account, or TYPE 5 (SHORT MARGIN) account. A short margin account is just a margin account that holds short positions. The margin requirement for short positions are more strict than regular margin accounts, so I can see the advantage in separating them. In the [AMA with Wes Christian](https://www.youtube.com/watch?v=2rJujnpKiqM) *(starting at 7:30)*, he specifically discussed how a broker-dealer’s margin account is used to locate shares for short sellers. However, the margin account contains shares that were previously pledged to another party. Given the lack of oversight in securities lending, the problem keeps compounding each time a new borrower claims ownership of that share. Now think back to the situation with Apex.. They asked their customers to book short positions to a short-margin account or a cash account. The user agreement with a margin account allows Apex to continue lending those securities at any time. As discussed with Dr. T and Carl Hagberg, the broker collects interest for lending your margin shares and doesn’t pay you anything in return. When multiple locates are authorized for the same share, the broker collects multiple lending fees on the same share. In contrast, the cash account falls under the protection of [SEA 15c3-3](https://www.finra.org/sites/default/files/SEA.Rule_.15c3-3.pdf) and consists of shares that have not been leveraged- or lent- like the margin-short account. According to Wes *(starting at 8:30)*, these shares are segregated and cannot be touched. The broker cannot encumber-or restrict- them in any way. However, according to Wes, this is currently happening. He also explained how Canada has legalized this and currently allows broker-dealers to short sell your cash account shares against you. \_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ Alright…. I’ll stop beating the dead horse regarding short sale indicators & inaccurate submissions of short interest positions. Given the volume of citations we haven’t discussed, I’ll summarize some of my findings, below. Keep in mind these are ONLY for **“FAILURE TO REPORT SHORT INTEREST POSITIONS”** or **“FAILURE TO INDICATE A SHORT SALE MODIFIER”**. If the violations contain additional information, it’s because that citation actually listed additional information. **It does NOT represent an all-inclusive list of short selling violations for these participants.** …You wanted to know how systematic this problem is, so here you go... *(EACH BROKER-DEALER NAME IS HYPERLINKED TO THEIR FINRA REPORT)* 1. [Barclays](https://files.brokercheck.finra.org/firm/firm_19714.pdf) | Disclosure 36 – “SUBMITTED 86 SHORT INTEREST POSITIONS TOTALING 41,100,154 SHARES WHEN THE ACTUAL SHORT INTEREST POSITION WAS 44,535,151 SHARES.. FAILED TO REPORT 8 SHORT INTEREST POSITIONS TOTALING 1,110,420 SHARES” a. $10,000 FINE 2. [Barclays](https://files.brokercheck.finra.org/firm/firm_19714.pdf) | Disclosure 54 – “SUBMITTED AN INACCURATE SHORT INTEREST POSITION TO FINRA AND FAILED TO REPORT ITS SHORT INTEREST POSITIONS IN 835 POSITIONS TOTALING 87,562,328 SHARES” a. $155,000 FINE 3. [BMO Capital Markets Corp](https://files.brokercheck.finra.org/firm/firm_16686.pdf) | Disclosure 23 – “SUBMITTED SHORT INTEREST POSITIONS TO FINRA THAT WERE INCORRECT AND FAILED TO REPORT TO FINRA ITS SHORT INTEREST POSITIONS TOTALING OVER 72 MILLION SHARES FOR 11 MONTHS” a. $90,000 FINE 4. [BNP Paribas Securities Corp](https://files.brokercheck.finra.org/firm/firm_15794.pdf) | Disclosure 53 – “FAILED TO REPORT TO FINRA ITS SHORT INTEREST IN 2,509 POSITIONS TOTALING 6,051,974 SHARES” a. $30,000 FINE 5. [BNP Paribas Securities Corp](https://files.brokercheck.finra.org/firm/firm_15794.pdf) | Disclosure 9 – “ON 35 OCCASIONS OVER A FOUR-MONTH PERIOD, A HEDGE FUND SUBMITTED SALE ORDERS MARKED “LONG” TO BNP FOR CLEARING. FOR EACH OF THOSE “LONG” SALES, ON THE MORNING OF SETTLEMENT, THE HEDGE FUND DID NOT HAVE THE SHARES IN IT’S BNP ACCOUNT TO COVER THE SALE ORDER. IN ADDITION, BNP WAS ROUTINELY NOTIFIED THAT THE HEDGE FUND WOULD NOT BE ABLE TO COVER. NEVERTHELESS, WHEN EACH SETTLEMENT DATE ARRIVED AND THE HEDGE FUND WAS UNABLE TO COVER, BNP LOANED THE SHARES TO THE HEDGE FUND. IN TOTAL, BNP LOANED MORE THAN 8,000,000 SHARES TO COVER THESE PURPORTED “LONG” SALES” a. $250,000 FINE 6. [Cantor Fitzgerald & Co](https://files.brokercheck.finra.org/firm/firm_134.pdf) | Disclosure 1 - (literally came out on 5/6/2021) – “THE FIRM SUBMITTED INACCURATE SHORT INTEREST POSITIONS TO FINRA. THE FIRM OVERREPORTED NEARLY [55,000,000 SHORT SHARES](https://www.finra.org/sites/default/files/fda_documents/2018059464001%20Cantor%20Fitzgerald%20%26%20Co.%20CRD%20134%20AWC%20va.pdf) WHICH WERE CUSTODIED WITH AND ALREADY REPORTED BY ITS CLEARING FIRM, WITH WHICH CANTOR MAINTAINS A FULLY DISCLOSED CLEARING AGREEMENT” a. $250,000 FINE 7. [Cantor Fitzgerald & Co](https://files.brokercheck.finra.org/firm/firm_134.pdf) | Disclosure 31 - “…THE FIRM EXECUTED NUMEROUS SHORT SALE ORDERS AND FAILED TO PROPERLY MARK THE ORDERS AS SHORT… THE FIRM, ON NUMEROUS OCCASIONS, ACCEPTED SHORT SALE ORDERS IN AN EQUITY SECURITY FROM ANOTHER PERSON, OR EFFECTED A SHORT SALE FROM ITS OWN ACCOUNT WITHOUT BORROWING THE SECURITY…” a. $53,500 FINE 8. [Cantor Fitzgerald & Co](https://files.brokercheck.finra.org/firm/firm_134.pdf) | Disclosure 33 - “…EXECUTED SHORT SALE ORDERS AND FAILED TO PROPERLY MARK THE ORDERS AS SHORT. THE FIRM HAD FAIL-TO-DELIVER POSITIONS AT A REGISTERED CLEARING AGENCY IN THRESHOLD SECURITIES FOR 13 CONSECUTIVE SETTLEMENT DAYS… FAILED TO IMMEDIATELY CLOSE OUT FTD POSITIONS… ACCEPTED SHORT SALE ORDERS FROM ANOTHER PERSON, OR EFFECTED A SHORT SALE FROM ITS OWN ACCOUNT, WITHOUT BORROWING THE SECURITY OR HAVING REASONABLE GROUNDS TO BELIEVE THAT THE SECURITY COULD BE BORROWED…” a. $125,000 FINE 9. [Canaccord Genuity Corp](https://files.brokercheck.finra.org/firm/firm_1020.pdf) | Disclosure 17 - “THE FIRM EXECUTED SALE TRANSACTIONS AND FAILED TO REPORT EACH OF THESE TRANSACTIONS TO THE FINRA/NASDAQ TRADE REPORTING FACILITY AS SHORT” a. $57,500 FINE 10. [Canaccord Genuity Corp](https://files.brokercheck.finra.org/firm/firm_1020.pdf) | Disclosure 20 - “THE FIRM EXECUTED SHORT SALE ORDERS AND FAILED TO PROPERLY MARK THE ORDERS AS SHORT” a. $27,500 FINE 11. [Canaccord Genuity Corp](https://files.brokercheck.finra.org/firm/firm_1020.pdf) | Disclosure 31 - “…SUBMITTED TO NASD MONTHLY SHORT INTEREST POSITION REPORTS THAT WERE INACCURATE” a. $85,000 FINE 12. Citadel Securities LLC | [Citadel Has No Clothes](https://www.reddit.com/r/GME/comments/m4c0p4/citadel_has_no_clothes/) – LITERALLY ALL I TALK ABOUT IN THAT POST. GO READ IT 13. [Citigroup Global Markets](https://files.brokercheck.finra.org/firm/firm_7059.pdf) | Disclosure 10 – “THE FIRMS TRADING PLATFORM FAILED TO RECOGNIZE THAT THE FIRM WAS SELLING SHORT WHEN IT WAS ACTING AS THE CONTRA PARTY TO A CUSTOMER TRADE. AS A RESULT, THE FIRM ERRONEOUSLY REPORTED SHORT SALES TO A FINRA TRADE REPORTING FACILITY AS LONG SALES… EFFECTING SHORT SALES FROM ITS OWN ACCOUNT WITHOUT BORROWING THE SECURITY…” a. $225,000 FINE 14. [Citigroup Global Markets](https://files.brokercheck.finra.org/firm/firm_7059.pdf) | Disclosure 59 – “…THE FIRM RECORDED 203,653 SHORT SALE EXECUTIONS ON ITS BOOKS AND RECORDS AS LONG SALES, SUBMITTED INACCURATE ORDER ORIGINATION CODES AND ACCOUNT TYPE CODES TO THE AUDIT TRAIL SYSTEM FOR APPROXIMATELY 2,775,338 ORDERS… “ a. $300,000 FINE 15. [Citigroup Global Markets](https://files.brokercheck.finra.org/firm/firm_7059.pdf) | Disclosure 76 – “…FAILED TO PROPERLY MARK APPROXIMATELY 9,717,875 SALE ORDERS AS SHORT SALES… FINDINGS ALSO ESTIMATED THAT THE FIRM ENTERED **55 MILLION ORDERS** INTO THE NASDAQ MARKET CENTER THAT IT FAILED TO CORRECTLY INDICATE AS SHORT SALES…” a. $2,250,000 FINE 16. [Cowen and Company LLC](https://files.brokercheck.finra.org/firm/firm_7616.pdf) | Several Disclosures – almost every other disclosure is for failing to mark a sale with the appropriate indicator, including short AND long sale indicators 17. [Credit Suisse Securities LLC](https://files.brokercheck.finra.org/firm/firm_816.pdf) | Disclosure 34 – “NEW ORDER REPORTS WERE INACCURATELY ENTERED INTO ORDER AUDIT TRAIL SYSTEM (OATS) AS LONG SALES BUT WERE TRADE REPORTED WITH A SHORT SALE INDICATOR” a. $50,000 FINE 18. [Credit Suisse Securities LLC](https://files.brokercheck.finra.org/firm/firm_816.pdf) | Disclosure 95 – “BETWEEN SEPTEMBER 2006 AND JUNE 2008, CREDIT SUISSE FAILED TO SUBMIT ACCURATE PERIODIC REPORTS WITH RESPECT TO SHORT POSITIONS…” a. $40,000 FINE 19. [Deutsche Bank Securities INC.](https://files.brokercheck.finra.org/firm/firm_2525.pdf) | Disclosure 50 – “THE FIRM FAILED TO REPORT SHORT INTEREST POSITIONS IN DUALLY-LISTED SECURITIES” a. $200,000 FINE 20. [Deutsche Bank Securities INC.](https://files.brokercheck.finra.org/firm/firm_2525.pdf) | Disclosure 52 – “THE FIRM… EXPERIENCED MULTIPLE PROBLEMS WITH ITS BLUE SHEET SYSTEM THAT CAUSED IT TO SUBMIT INACCURATE BLUE SHEETS TO THE SEC AND FINRA… INCORRECTLY REPORTED LONG ON ITS BLUE SHEET TRANSACTIONS WHEN CERTAIN TRANSACTIONS SHOULD HAVE BEEN MARKED SHORT” a. $6,000,000 FINE (SEVERAL OTHER ISSUES REPORTED IN ADDITION TO SHORTS) 21. [Deutsche Bank Securities INC.](https://files.brokercheck.finra.org/firm/firm_2525.pdf) | Disclosure 58 – “BETWEEN JANUARY 2005 AND CONTINUING THROUGH NOVEMBER 2015, THE FIRM IMPROPERLY INCLUDED THE AGGREGATION OF NET POSITIONS IN CERTAIN SECURITIES OF A NON-US BROKER AFFILIATE… IN ADDITION… DURING THE PERIOD BETWEEN APRIL 2004 AND SEPTEMBER 2012, THE FIRM INAPPROPRIATELY REPORTED CERTAIN SHORT INTEREST POSITIONS ON A NET, INSTEAD OF GROSS, BASIS..” a. $1,400,000 FINE 22. [Goldman Sachs & Co. LLC](https://files.brokercheck.finra.org/firm/firm_361.pdf) | Disclosure 32 – “THE FIRM REPORTED SHORT SALE TRANSACTIONS TO FINRA TRADE REPORTING FACILITY WITHOUT THE REQUIRED SHORT SALE MODIFIER” a. $260,000 FINE (SEVERAL OTHER ISSUES REPORTED IN ADDITION TO SHORTS) 23. [Goldman Sachs & Co. LLC](https://files.brokercheck.finra.org/firm/firm_361.pdf) | Disclosure 54 – “FAILED TO ACCURATELY APPEND THE SHORT SALE INDICATOR TO FINRA/NASDAQ TRADE REPORTING FACILITY REPORTS… INACCURATELY MARKED SELL TRANSACTIONS ON ITS TRADING LEDGER” a. $55,000 FINE 24. [Goldman Sachs & Co. LLC](https://files.brokercheck.finra.org/firm/firm_361.pdf) | Disclosure 63 – “…SUBMITTED TO FINRA AND THE SEC BLUE SHEETS THAT INACCURATELY REPORTED CERTAIN SHORT SALE TRANSACTIONS AS LONG SALE TRANSACTIONS WITH RESPECT TO THE FIRM SIDE OF CUSTOMER FACILITATION TRADES… THE FIRM REPORTED SHORT SALES AS LONG SALES ON ITS BLUE SHEETS WHEN THE TRADING DESK USED A PARTICULAR MIDDLE OFFICE SYSTEM…” a. $1,000,000 FINE 25. [Goldman Sachs & Co. LLC](https://files.brokercheck.finra.org/firm/firm_361.pdf) | Disclosure 150 – “GOLDMAN SACHS & CO. FAILED TO REPORT SHORT INTEREST POSITIONS FOR FOREIGN SECURITIES AND NUMEROUS SHARES ONE MONTH… THE FIRM REPORTED SHORT INTEREST POSITIONS IN SECURITIES TOTALING SEVERAL MILLION SHARES EACH TIME WHEN THE ACTUAL SHORT INTEREST POSITIONS IN THE SECURITIES WERE ZERO SHARES… ACCEPTING A SHORT SALE ORDER IN AN EQUITY SECURITY FROM ANOTHER PERSON, OR EFFECTED A SHORT SALE FROM ITS OWN ACCOUNT, WITHOUT BORROWING THE SECURITY OR BELIEVING THE SECURITY COULD BE BORROWED ON THE DATE OF DELIVERY…” a. $120,000 FINE 26. [Goldman Sachs & Co. LLC](https://files.brokercheck.finra.org/firm/firm_361.pdf) | Disclosure 167 – “…THE FIRM FAILED TO REPORT TO THE NMC THE CORRECT SYMBOL INDICATING THAT THE TRANSACTION WAS A SHORT SALE FOR TRANSACTIONS IN REPORTABLE SECURITIES…” a. $600,000 FINE (SEVERAL OTHER ISSUES REPORTED IN ADDITION TO SHORTS) 27. [HSBC Securities (USA) INC.](https://files.brokercheck.finra.org/firm/firm_19585.pdf) | Disclosure 26 – “FIRM EXECUTED SHORT SALE TRANSACTIONS AND FAILED TO MARK THEM AS SHORT… HSBC SECURITIES HAD A FAIL-TO-DELIVER SECURITY FOR 13 CONSECUTIVE SETTLEMENT DAYS AND FAILED TO IMMEDIATELY CLOSE OUT THE FTD POSITION… THE FIRM CONTINUED TO HAVE A FTD IN THE SECURITY AT A CLEARING AGENCY ON 79 ADDITIONAL SETTLEMENT DAYS…” a. $65,000 FINE \_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ I’m going to stop at ‘H’ because I’m tired of writing. Hopefully, you all understand the point so far. We’re only 8 letters into the alphabet and have successfully buried Ken to his waist. The system that is used to mark the proper transaction type (sell, buy, short sell, short sell exempt, etc.) is obviously broken… There, I said it.. the system is INDUBITABLY, UNDOUBTEDLY, INEVITABLY F\*CKED.. Regardless of the cause- fraud or negligence- there are too many firms failing to accomplish a seemingly simple task. The consequences of which are creating far more shares than we can imagine. It’s a gigantic domino effect. If you fail to properly mark 1,000,000 short shares and a year goes by without catching the problem, it’s already too late. They’re like the f\*cking replicators from Stargate.. In each of the examples listed above, the short interest on the stock was understated by the number of shares excluded… and that was just a handful.. Knowing this, how can someone look at the evidence and say it’s *trivial….?* No one really knows HOW systematic this issue is because it is so deeply incorporated in the market that it has BECOME the system itself. Therefore, there is obviously something much deeper going on, here.. How does one argue against the severity of these problems after reading this? There are FAR too many things that don’t make sense and FAR too many people turning a blind eye.. The only conclusion I keep coming back to is that the people with money know what’s going on and are desperately trying to keep it under wraps.. ..So…. In an effort to prove this, I looked for violations that showed their desperation to protect this f\*cked up system. ..Buckle up.. \_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ ***HOUSE OF CARDS - PART 3 (I'm uploading it now; will link ASAP)***

Superstonk

Thank you u/atobitt u/dlauer and Dr. T!!!! 🚀 edit: $483ish apes where you at? I'm trying to give you my big BANANYA! I miraculously found a Bananya on the top shelf buried in a sea of Pikachu's at the Kahala Mall! I will give this Bananya to the LAST $483ish ape we pick up on the way to ♾ 🚀 proof: [https://imgur.com/XLuSIzX](https://imgur.com/XLuSIzX) [https://imgur.com/vWf344o](https://imgur.com/vWf344o)

xjsv50

How I turned $5k into a 6 figure annual passive income at 25 yo.

So the title is a bit click bait but not untrue. I graduated from college in 2019 and have now quit my job and live on a "passive" income of $115k a year from my rental properties. I'm currently in the process of closing on a few more that will leave me at about $160k "passive" income a year. I know the "rental properties aren't passive" and "you have a ton of debt!!" comments are coming but I figured I'd share my story anyways. After graduating with a BS in mechanical engineering I got my first job in upstate NY making $65k a year. I absolutely hated that job; I had to wake up around 5 am so I could get to my 6 am team meeting everyday. The environment was dusty and dirty and there was no one even remotely close to my age I could talk to during the day. Admittedly it was a pretty relaxed environment work wise and I did spend large portions of the day browsing reddit. Fast forward 6 months and I got a new job in western NYS. This job was more in line with what I wanted my career to be and gave me a great name to throw on my resume. For this opportunity I did actually take a pay cut to $62k (was raised to $65k 1 year later however), however the area was super low cost of living (1b1b goes for $550 back before covid). This next part is where I might lose some people because while my title isn't click bait, its not exactly a situation people can easily duplicate. Around 2 months into my new job, I opened a brokerage account and put $5k into it. Initially I was buying shares and would get excited when I made $2. I read all your typical [r/investing](https://www.reddit.com/r/investing/) advice etc, etc. However after not even a full month I got bored (I'm sure some of you can see where this is going). That's when I found [r/wallstreetbets](https://www.reddit.com/r/wallstreetbets/); I saw all the people leveraging their money into options and making crazy 40%, 60%, 100%, and even 200% returns on a single play. I began to stalk and stalk and eventually I pulled the trigger and liquidated by entire portfolio and began options trading. I will the the first to admit that I got very lucky. I turned \~$200 into \~$700 with a LL earnings play, made over $2500 with some far OTM calls on SPCE, and with some other trades, eventually I got my account up to around $65k in less than a year. Around this time is when I pulled out \~$30k to purchase my first rental property. I bought a 4 unit (1 SFH + Triplex on the same lot) for $138k. This property was more or less turn key with only the SFH sitting vacant. Once I got the keys I quickly rented the SFH out for $950 /month. This left me with a cash flow of around $900/month after all expenses besides management (I was self managing these since this was my only property). While all this was happening I was still working my FT job and day trading on the side. During the next couple months I was mostly day trading amazon options and managed to get another $30k which I used to buy a 3b1b SFH in cash. This was a bit of a fixer upper and I would spend my evenings working on it. After about a month and an additional $5k in work/materials (plumber for blocked sewer line, appliances, tools, etc) it was rent ready and I rented it out for another $950/month. Then in early December of 2020 I read a post on wsb about how undervalued GME was. I dumped nearly $35k into options and shares (I had 10 calls and 1100 shares). Initially I lost about 1/3 of the value but the infamous short squeeze happened and the price shot well past $400/share. I managed to sell everything around $350 leaving me about $375k after taxes. This really poured fuel on the rental property fire. Using around $150k I purchased triplex for $70k cash, a duplex for $58k that was financed, and a 6 unit multifamily for $270k (again financed). At this point I was still self managing these property but I had hired a couple contractors to renovate a couple apartments as well as replace the roof on one of the properties. During that time I also bought a sfh for $110k that I would live in as my primary and spent around $35k renovating it myself (minus paying a contractor to remove a load bearing all + install an lvl beam). For anyone that's keeping track, all in these properties (minus my primary) were bring in about $3500/month in cash flow. My next big purchase happened just after I finished renovating my primary; I found a 7 property portfolio for $735k. Because of all the work I did on the 2 houses that I paid cash for, I was able to refinance them and get out about $100k and only had to put up about $50k for the down payment + closing costs. During this time I was actively looking for a new job down south because I was quiet frankly tired of all the snow. Around the same time the portfolio closed I got a new job down in NC for $70k and moved down at the end of 2021. Instead of selling my primary I ended up renting it out to a group of grad students at a local university for $1600/month. Knowing that I would be a remote landlord I did end up finding a property manager to take care of all the properties. Combining that with the portfolio and my previously mentioned properties that brought my cash flow up to $9600 a month pre tax. I was laid off in February of this year and chose to not look for a new job. I don't really day trade anymore but I am continuing to look for new properties in the area. I currently have a few under contract and once those close I'll be sitting at around $160k pre tax. My goal is to get to $300k pre tax before I turn 30. Anyways that's my story. I don't have any advice or anything and I don't think I'm in the position to give any anyways; I just wanted to share with someone. Thanks for taking the time to read this! ​ EDIT: Since this post has gotten a bit more attention than I expected in this sub I'll answer some common questions/comments 1. Yes I got extremely lucky, nowhere in the post did I deny that. However I believe luck plays a huge component in anyone's success; my story is no different. 2. All these properties are located in western NYS 3. No I am not trying to sell anyone a course, a few people have dm'ed me about it. No clue where that came from. 4. $9600/month is the net free cash flow. The breakdown is below 5. I don't post often to my account, that doesn't mean I don't use reddit a lot. I've been subbed/lurking/and occasionally commenting on wsb since it was 500k users. 6. I currently own 13 properties (33 doors/tenants). I owe about $1.2m and have about $300k in equity between all properties. Market value on the whole portfolio is around $1.5m. 7. $375k was the approximate amount left after setting aside nearly $125k for tax. Breakdown (annual to nearest $) Gross rent: $310,704 Property tax: $39,490 Mortgage (PMI): $90,764 Common Utilities (varies but never more than): $3000 Repairs/maintenance budget: $24,760 Insurance: $8957 Lawn + snow removal: $2730 Management: $24,856 Net free cash flow: $116,147 or $9678.92/month ​

realestateinvesting

You basically won the lottery OP...you could probably live the rest of your life and not time a trade like you did with GME. There will be more money makers in the future...but again, its like winning the lottery. You did the right thing though and I am happy to see you didnt keep doing risky plays and lose your gains...instead you started to invest in real estate, one of the safest plays there are. Congrats OP! Wish I was into WSB back then as well...

yeuzxy

Mark Zuckerberg lost $100B recently

Mark was early, too early. Meta should have remained an internal project Instead, he took a risk and took the company in the new direction with the greatest deal of publicity. Changing their ticker, name, mission. All on display for the world to see, as if to say, look at me, look at us, place your eyes on our newfound identity. It's very fitting, for the de facto social media industry leader to take this approach. Very fitting, for a once young and innovative Mark Zuckerberg to want to matter again, after years of declining market share and increased competition. The issue is one that is shared among the modern investing world. One driven by jargon and VC capital endlessly pouring into the "next big thing". One where appearance matters much more than actual substance. You might even say this is reflective of society at large, perhaps even one where Zuckerberg helped mold. The issue lies in the fact that we live in a world where simply changing your name to include a buzzy new catchword such as crypto, NFT, or Metaverse can increase your company's valuation multiple times without changing much else. But for how long? Eventually when the music stops and the madness of discretionless investing is over, when the cost of capital has tripled, quadrupled, will your firm truly stand the test of valuation? Time to get back down to brass tacks.

ValueInvesting

I don’t think he gives a fuck tbh. He has more money than he could ever spend in a lifetime and has majority voter rights of the company he made. He can basically do whatever he wants. Why not risk some of his endless wealth into R&D for a piece of technology that could revolutionize the world

r3lgt3

Are there any people invested since the 2000 bubble?

How was the market sentiment back then? Go and talk to anybody around me nowadays, including a barista in the coffee shop. Everybody seems to talk about "investing" in stocks and/or crypto. Kinda **foollish** to think that I am not a part of the mob driven by trends too. Although I tend to consider myself as a "value investor" with long-term horizon (however, nowadays who doesn't). There is a reason for equity price to inflate so much (QE / helicopter money / low interest rate etc), but boy, it's not a healthy way for society to have so many market participants chasing short-term gains.

ValueInvesting

There's a group of guys at my work who have a little gambling ring (betting on football at break times and stuff) Well basically they've moved onto buying stocks and bitcoin without a fucking clue what they're doing trying to chase quick profits after the GME thing early this year. This is how I know something bad is around the corner

6h5oqz

[ETH Daily Discussion] - 14/Jun/2017

Welcome to the ETH Daily Discussion thread of /r/EthTrader. *** The thread guidelines are as follows: - All sub rules apply here. Please review our **[rules page](https://www.reddit.com/r/ethtrader/about/rules/)** to become familiar with them. The rules page is also linked in the announcement bar above. - General discussion topics include, but are not limited to, events of the day, technical analysis, alternative Ethereum projects, or support issues. - Breaking news or other important content should be submitted as a separate post. - In-depth altcoin discussions should be referred to the /r/CryptoCurrency discussion thread. To view the thread, [follow this link](https://np.reddit.com/r/CryptoCurrency/search?q=%5BMonthly+General+Discussion%5D&restrict_sr=on&sort=new&t=all) and choose the latest entry on the search page. - Pumping, venting, trolling, or any other similar behavior **should be reported** and redirected to the /r/CryptoMarkets trollbox thread. To visit this thread, [follow this link](https://np.reddit.com/r/CryptoMarkets/search?q=Trollbox+Thread&sort=new&restrict_sr=on&t=all) and choose the latest entry on the search page. *** Resources and other information: * For newcomers who have basic questions about Ethereum, you 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. * **The daily thread will no longer be stickied so please remember to upvote it for visibility.** *** Thank you in advance for your participation. Enjoy!

ethtrader

To everyone buying in for the first time right now... I was once you. I bought in at 70 and felt like I wasn't going to make any money. I felt 99% of the world bought in cheaper than I did. I saw people talk about buying in at 13 and how they made a trillion dollars already. I felt horrible. But I learned to hodl. I hodled every day and it was the best decision I made. Now I see you guys buying in at 390 and I can be like those people who bought in at 20 and taught me how to hodl. It will pay off when eth is 1390. You will be apart of the veteran hodlers preaching the ways of the hodl to the newcomers

6uvbjz

I'm 18 and about to earn $73,000 a year.

I recently got the opportunity to work on an oil and gas rig and if everything goes to plan in the next week I should have the job. It is a 2 week on 2 week off job so I can't really go to uni, nor do I want to. I want to go to film school but I'm not sure I can since I will be flying out to a rig for 2 weeks at a time. For now I am putting that on hold but still doing some little projects on my time off. My question is; what should I do with the money since I am so young, don't plan on going to uni, and live at home? Edit: Big thank you to everyone who commented. I'm grateful to have so many experienced people guide me. I am going to finish reading though every comment. Thanks again.

personalfinance

Understand a few things: 1-You are a warm body in a very lucrative field. Every warm body makes (perceptually for low to middle class young guys) crazy money. 2-You will trade your body and sanity for that money and can only do it for so long 3-In order to maintain morale, and sanity mentioned in (2), your co-workers will purchase expensive cars, drugs, clothes, etc. "Work hard, party hard". I have a few buds that constantly post pictures of their massive trucks, big wads of cash (big being a very relative word), etc etc. 4-Falling for (3) will lead you to continue to trade your body for this demanding and unforgiving job which actually does NOT pay much considering the hours actually involved, the danger, the toll on your body Take home points: i- Save (as much % of the net pay that you can and invest your money). You will make more than the other 18 year olds, but the cost will not be seen to you until a decade or so later if you decide to make this a long term job of many years. ii-Have an out plan. Study when you can for a normal career or something lucrative iii-Don't talk about how much money you THINK you're making. Don't brag about how much you are making on social media. Trust me, its really not that much. There are accountants, programmers, etc who beat that while working 9-5 and sitting on their ass drinking coffee. The other difference? The accountant/programmer/etc. can keep working into their 60s and 70s. iv-To follow up on (i):Invest in index funds that follow the market to start, in your late 20s after you've studied a few different investment mediums like individual stocks, realestate, etc. then feel free to go into riskier and more lucrative investments good luck!

lbxwls

Not sure Reddit is worth the effort

I have been trading for 20+ years. I love smallcaps and I am addicted to options trading. I tried to create a side thread with details,, it was deleted? - I dunno,, maybe you pay for that ability..?? I don't run pump and dumps,, I use the same name everywhere. But twice after posting what I believe to be good stock picks I was verbally trashed instantly. Now i can understand trying to protect your community,, thats cool,,, but some of you need some social skills and patience before you instantly attack anyone. As i have noted, I am new to reddit,, but I'm not new to trading or other trader platforms,, so yeah you can actually go look me up. I came here because I am sick & tired of Twitter shaving off my followers every freaking week for over a year! I used to trade at thelion,, but got kicked off as well as years of dd about stocks for refusing to participate in what I believed to be a p&d. My style is if its a good company & the base is good,, buy it. I like penny stocks all the way up to $amzn I have an established history of pounding the table on quality stocks,, new traders should not have to start their trading careers buying canned spam when steak and lobster is available! Yeah, I am a little annoyed with the instant unwelcome Reddit users have,, for me & likely other traders. Technically I would like to find a trader community on a node,, not just "hanging out on the net". If anyone finds one,, hit me up at @gmail Anyway,, best of trading to all, and I am sorry about my rant.

Trading

As the owner of this community, I want to express my apologies for making you feel unwelcome at any stage. If there is anything we can do to enhance your experience here, please feel free to let me know. I wish you the best of luck!

zkvvhd

Why is the United States so rich?

According to Wikipedia, the United States has the seventh highest nominal GDP per capita in the world and the eighth highest PPP GDP per capita. And most of the countries ranked higher than it are very small and generate their money through oil (Norway, Qatar) or banking (Switzerland). Also according to Wikipedia, the US has the highest median household income. So what explains this? Why is America so rich, even compared to other developed countries?

AskEconomics

This question is too broad to provide a definitive answer to. "Why are some countries richer than others?" is *the* fundamental question in the field of macroeconomic growth and development. Getting a comprehensive answer would require taking a semester long course on growth and development (at the very least). We know a little bit more about what are typically called "proximate" causes (for a general framework, see [here](http://klenow.com/DevelopmentAccounting.pdf)). This answers the question of how the US makes more stuff than (say) France, in a literal physical sense. The short answer here is that generally speaking about 10-30 percent of the difference is explained by education and skill differences ("human capital"), 20 percent is explain by more and better machines ("physical capital"), and 50-70 percent is explained by "total factor productivity" (TFP), which is basically a term meaning "everything else that is harder to measure/quantify". Given its large role in explaining income differences, the last few decades of growth research has mostly involved trying to break down TFP and determine/quantify its various components. I will defer to the previously linked paper if you want further discussion of this. But this leaves open the question: why was it the US, in particular, that ended up with high human capital, physical capital, and TFP? Why not Argentina or some other country? These are effectively the first sets of arrows in the framework I linked. This is a much broader and more open question without a conclusive answer. The answer seems be to lots of little things from history (WWII, colonialism, etc) to geography to culture to simple randomness. I'm unaware of the solid lit review covering all of this, and it's beyond the scope of this post. The gist is: there's a lot here that we don't really know and this bit in particular is still an active area of research. Anyways, that's my quick summary. There is also a cheap answer to your question that I have saved for the end (because apparently I wanted to write a post about development accounting). This is that the US simply works more hours than many of these countries which lets them make more income. If you look at [output per hour worked](https://ourworldindata.org/grapher/labor-productivity-per-hour-pennworldtable?tab=table), the US is still near the top but it isn't a crazy outlier.

a3o87k

Javvy is a universal wallet that unifies access to cryptocurrency exchanges into a single, comprehensive application.

Javvy is the full integration of a universal wallet connected to numerous exchanges presently available to the cryptocurrency market. It eliminates the need for multiple accounts and applications while taking advantage of their respective benefits. Javvy brings confidence and clarity to the user as cryptocurrencies approach mass adoption. * A Universal Wallet * Built-in Decentralized Exchange * Quick & Easy Registration * Superior User Experience * User-friendly Security Focus * Numerous Advanced Features

crypto_currency

Javvy is a full-service crypto wallet and exchange. It will provide a common framework for buying into and selling out of cryptocurrency, users will have the option to hold, sell, or convert it to nearly any other cryptocurrency.

a92816

What is Upthinity?

Imagine having access to a crypto application center that meets your daily crypto needs! Using crypto with a variety of applications within a single ecosystem has never been easier in your everyday life. For example, even if you're a beginner, the apps that help market the market like a pro, applications that facilitate the encrypted spend you get at some of your favorite online stores such as Amazon, eBay, Etsy, morning cup of coffee. Applications that help you stay inside, provide early access to new projects that are powerful before launch and much more. Well, this is Upthinity, the personal super ecosystem of crypto applications to help you be guided by our community and supported by the blockchain

crypto_currency

That’s why we are building Upthinity now. And it’s also why our community will play a key role in Upthinity’s development. You’ll have a strategic voice in our consideration in the apps and services we add because we want to build the ultimate home base for crypto.

jgudwn

Question from a microeconomics final that I wrote 11 years ago

So I wrote an intermediate microeconomics exam in university back in like, 2009. One of the questions on the exam was so absurd that I am about 25% sure it was actually a fever dream. The gist was as follows: You are sitting at a bar. You start chatting with the girl next to you, and really hit it off. Then suddenly, she has to leave. You were not able to get her name or number before she left. You want to see this person again. Using microeconomic theory, discuss how you can make this happen. I remember writing this huge paragraph about "you need to go back to the same bar tomorrow at the same time" But goddammit reddit, it is 11 years later, I have a degree in economics, and I still don't know how I could have used economic theory to answer this.

AskEconomics

Use [revealed preference](https://en.wikipedia.org/wiki/Revealed_preference#The_Weak_Axiom_of_Revealed_Preference_(WARP). She has some utility function U(bar, x_1, x_2, x_3, ...) that may be time-dependent as well. What matters is that she chose to attend that bar at that time, as opposed to other options. The key is that we don't know how her constraints played into her decision to attend at the time. Hence, while going to the bar at the same time might be smart, you need to do more to ensure that deciding to go to the bar again is [individually rational](https://www.econlib.org/book-chapters/chapter-ch-4-individual-rationality-in-social-choice/) for her. So, you make a deal with the bar owner/bartender to make a drink cheaper, or something that that reduces her cost of attendance. "But it'll be very expensive if I have to strike a deal!" Then you write out your intertemporal utility maximization problem, where your goal is to (potentially) marry this lady, but in the short run you'd have to pay the cost of the deal with the bartender (Note that the goal is probably to just meet this lady and get to know her more, with the possibility than you go on to want to marry her, but that depends on signals and whatnot; since it's an exam I think this can be mentioned in a line, while you just simplify the goal to marriage, due to limited time). I'd recommend writing search theory [Bellman equation(s)](https://en.wikipedia.org/wiki/Dynamic_programming) for this portion, and characterizing the reservation cost of a deal you strike with the bartender using standard assumptions on utility/production functions, i.e. the cost that makes you indifferent between a deal and no deal. See how you can apply the [Slutsky equation](https://en.wikipedia.org/wiki/Slutsky_equation) to her decision-making process. These parts can be answered in maybe 2/3 a page of writing/equations with normal-sized handwriting, which I think is reasonable for an exam question. If you have time remaining, I'd definitely go into complements and substitutes. The day of the week matters here. My prior is that going to the bar on a Friday night is complementary to going to the bar next Friday night, but is a substitute for going to the bar on Saturday night. Going to the bar on, say, a Monday night is probably not a complement with anything, as the impression I have is that people unfortunately tend to do that when going through a rough time. But I don't drink, so I wouldn't know. *Note: this question is open-ended and most likely will accept multiple answers. It probably wants to test your economic reasoning.* Edit: I mixed up individual rationality with incentive compatibility at first.

faj0ip

UPDATE - Found out tenant was laid off work

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

realestateinvesting

This is awesome! Obviously everyone else has different experiences, but being a successful landlord and a good person don’t necessarily have to be mutually exclusive. I’m dealing with a similar situation in a rental as we speak.

x2e3qd

I'm Ryan Avent, and I cover the global economy for The Economist. Ask me about economics, journalism, or anything else!

Hi, I'm Ryan Avent, the trade and international economics editor for The Economist, where I've been covering various economics beats since 2007. My recent work has focused on challenges facing emerging markets; see this recent piece on debt woes across developing economies and the risk of a lost decade: https://www.economist.com/finance-and-economics/2022/07/20/the-53-fragile-emerging-economies But I write about lots of other stuff as well. I have a Substack newsletter, where I try to tackle big-picture social, economic and political questions: https://ryanavent.substack.com/ I also wrote a book about technology and the future of work, which was published in 2016: https://www.amazon.com/Wealth-Humans-Status-Twenty-first-Century/dp/1250075807 And I'm in the process of writing another, which will argue that cultural norms and values matter a lot in shaping political and economic outcomes, and that economists should take them more seriously. Anyway, here's my proof: https://twitter.com/ryanavent/status/1562455541628432385 And I'm happy to take whatever questions you have about economics, The Economist, or anything else!

AskEconomics

Hey Ryan! Can you tell me how you became a journalist for The Economist? I have interest in economics and writing so I would like to know how your path looked like. Also, is it easier to be an economics student first and then specialize in journalism or vice versa? Many thanks for your answer! I've seen your work before as I am an avid The Economist reader! Edit: spelling

l71zmm

Whether you have GME or not, this manipulation is a scary thing. It’s not right and we can’t let them win (HOLD GME!)

I know a lot of this sub obviously just trades Canadian stock which is alright. But brokers restricting our ability to buy more GME creates a scary precedent that no matter how screwed hedge funds are, they can still cheat their way out of it. A quick summary of the situation is this. Billionaires shorted the hell out of GameStop. Basically that means they borrowed millions of shares, sold them right away in hopes that they later buy them back when the price goes down. They bet on the price going down, and at this point literally owe more shares to the brokers they borrowed them from than there currently are available to trade. Aka they dug themselves into a huge hole, even doubling down as the price got higher and higher. When they finally have to buy all those shares back, it will create a short squeeze which means the price spikes up and they buy at whatever price they can (which could even be north of 1k). The only weapon they had was scaring people into selling by lying, getting media to spew bullshit, etc. There was no way out until... This morning a bunch of brokers restricted our ability to buy more GME! This created panic selling so they could get out of the short squeeze without going bankrupt. THEY ARE STRAIGHT UP CHEATING, THIS IS THE MOST BLATANT MANIPULATION! Robinhood is gonna be done after this since they’re the used broker by retail traders and people are rightfully pissed off. I just ask that everyone does what they can to not let these guys win. Even if you’re just a passive investor who only holds VGRO, you should be on our side and help us out. We know these guys never pay consequences for what they do but there are too many eyes on this. We know the stock market is rigged but this maybe the biggest attempt of cheating yet. This should be something that concerns everyone. Even emailing your concerns with every broker participating in this would help out. <3 For everyone still holding GME, remember they still need to buy back all the shares they borrowed! The squeeze has not happened yet. This morning hasn’t been fun but the best thing we can do is keep holding.

CanadianInvestor

What's happening is absolutely bullshit. The rules allow big hedge funds to make astronomical gambles. And when they are on the losing side of the trade, they want to change the rules. "Rules for thee, but not for me". Fucking ironic, Robinhood - steal from the villagers and give to the lords

a870ib

KittieFight Community Driven Dutch Auction Tutorial & Ether Reward Competition

KittiFIGHT and dutch auction goals Thank you for deciding to participate in our reverse dutch auction. In order to achieve our KittiFIGHT launch goals in the early parts of QI 2019, we have to establish the (KTY) token economy via a market discovery mechanism i.e our reverse dutch auction. This will help us quantify the value of each token in order to gauge what level of pricing that is acceptable and fair within the KittieFIGHT (KTY) token economy used for fight tickets, kittie-hell redemption fees and fight scheduling fees. In regard to KTY token utility, we plan to launch kittieFIGHT DAPP game before any of our previously scheduled exchange listings are put into effect. This is to ensure that the usage/utility value of KTY is strongly established before any inevitable speculative activities by the community. We are also using bounties to establish wide distribution. Also since the campaign is community driven and focused, any member of the community can earn some ETHER andKTY tokens by doing simple tasks to bring the Dutch auction campaign towards its goals (see: Ether Top 20 Competition & Marketing Partners Tutorial ). Click the links below to skip directly to a tutorial of your interest: Bidding Tutorial for https://dutchauction.kittiefight.io Bounty referrals Tutorial Ether Top 20 Competition ( Participate as a community sharing ETH funding with the team ) Marketing Partners Tutorial Claiming KTY Tokens Community-driven, reverse dutch auction 8 million KTY tokens are up for public distribution in a reverse dutch auctionand a portion of the proceeds are shared with some of the community members through a competitive, group referral incentive (see: Ether Top 20 Competition ). A reverse dutch auction is an auction where the starting price of a commodity i.e each kittieFIGHT KTY token, declines VERY slowly over time, allowing the user to buy at a comfortable price and market valuation. The starting price of the kittieFIGHT dutch auction is $0.40 ( ~ ETH) and gradually decline by a very small factor each Ethereum block (every 14 seconds). The cheap price is to guarantee affordability, wide distribution, and valuation level of the token necessary for quantifying pricing models within the kittieFIGHT DAPP game. The only catch is not being able to guarantee token availability due to the low price. A total possible raise of $3 million represents the hard cap with a soft capof 10% or $300,000 in ETHER. The soft cap is established to determine the pointat which the top 20 referrers(community participators ) are eligible to vote to have payouts made out to them. The amount of auction funds disbursed to the top 20 Referrers is 10% of the total funds raised at the time the vote is held or when the campaign reaches the Hard cap. The disbursement is made as long as the soft cap figure (10% of the hard cap or $300,000) is attained and the majority (greater than 10) of the top 20 referrers, vote to have the funds disbursed. This is a one-time event and cannot be repeated see Ether Top 20 Competition for more details and join “#top20-ether-competition” channel on our discord channel. To understand other details of the auction, visit the dutch auction synopsis now.

crypto_currency

KTY tokens are sold as a functional good and all proceeds received by KittieFIGHT may be spent freely on development absent any conditions. KTY tokens are intended for experts in dealing with crypto economic tokens utility and blockchain-based software systems.

a870ib

KittieFight Community Driven Dutch Auction Tutorial & Ether Reward Competition

KittiFIGHT and dutch auction goals Thank you for deciding to participate in our reverse dutch auction. In order to achieve our KittiFIGHT launch goals in the early parts of QI 2019, we have to establish the (KTY) token economy via a market discovery mechanism i.e our reverse dutch auction. This will help us quantify the value of each token in order to gauge what level of pricing that is acceptable and fair within the KittieFIGHT (KTY) token economy used for fight tickets, kittie-hell redemption fees and fight scheduling fees. In regard to KTY token utility, we plan to launch kittieFIGHT DAPP game before any of our previously scheduled exchange listings are put into effect. This is to ensure that the usage/utility value of KTY is strongly established before any inevitable speculative activities by the community. We are also using bounties to establish wide distribution. Also since the campaign is community driven and focused, any member of the community can earn some ETHER andKTY tokens by doing simple tasks to bring the Dutch auction campaign towards its goals (see: Ether Top 20 Competition & Marketing Partners Tutorial ). Click the links below to skip directly to a tutorial of your interest: Bidding Tutorial for https://dutchauction.kittiefight.io Bounty referrals Tutorial Ether Top 20 Competition ( Participate as a community sharing ETH funding with the team ) Marketing Partners Tutorial Claiming KTY Tokens Community-driven, reverse dutch auction 8 million KTY tokens are up for public distribution in a reverse dutch auctionand a portion of the proceeds are shared with some of the community members through a competitive, group referral incentive (see: Ether Top 20 Competition ). A reverse dutch auction is an auction where the starting price of a commodity i.e each kittieFIGHT KTY token, declines VERY slowly over time, allowing the user to buy at a comfortable price and market valuation. The starting price of the kittieFIGHT dutch auction is $0.40 ( ~ ETH) and gradually decline by a very small factor each Ethereum block (every 14 seconds). The cheap price is to guarantee affordability, wide distribution, and valuation level of the token necessary for quantifying pricing models within the kittieFIGHT DAPP game. The only catch is not being able to guarantee token availability due to the low price. A total possible raise of $3 million represents the hard cap with a soft capof 10% or $300,000 in ETHER. The soft cap is established to determine the pointat which the top 20 referrers(community participators ) are eligible to vote to have payouts made out to them. The amount of auction funds disbursed to the top 20 Referrers is 10% of the total funds raised at the time the vote is held or when the campaign reaches the Hard cap. The disbursement is made as long as the soft cap figure (10% of the hard cap or $300,000) is attained and the majority (greater than 10) of the top 20 referrers, vote to have the funds disbursed. This is a one-time event and cannot be repeated see Ether Top 20 Competition for more details and join “#top20-ether-competition” channel on our discord channel. To understand other details of the auction, visit the dutch auction synopsis now.

crypto_currency

This endowment fund keeps all games continuously well funded and incentivized. The last set of recipients in the share of the honeypots are direct backers of the project, ensuring that all participators and backers are well aligned.

a870ib

KittieFight Community Driven Dutch Auction Tutorial & Ether Reward Competition

KittiFIGHT and dutch auction goals Thank you for deciding to participate in our reverse dutch auction. In order to achieve our KittiFIGHT launch goals in the early parts of QI 2019, we have to establish the (KTY) token economy via a market discovery mechanism i.e our reverse dutch auction. This will help us quantify the value of each token in order to gauge what level of pricing that is acceptable and fair within the KittieFIGHT (KTY) token economy used for fight tickets, kittie-hell redemption fees and fight scheduling fees. In regard to KTY token utility, we plan to launch kittieFIGHT DAPP game before any of our previously scheduled exchange listings are put into effect. This is to ensure that the usage/utility value of KTY is strongly established before any inevitable speculative activities by the community. We are also using bounties to establish wide distribution. Also since the campaign is community driven and focused, any member of the community can earn some ETHER andKTY tokens by doing simple tasks to bring the Dutch auction campaign towards its goals (see: Ether Top 20 Competition & Marketing Partners Tutorial ). Click the links below to skip directly to a tutorial of your interest: Bidding Tutorial for https://dutchauction.kittiefight.io Bounty referrals Tutorial Ether Top 20 Competition ( Participate as a community sharing ETH funding with the team ) Marketing Partners Tutorial Claiming KTY Tokens Community-driven, reverse dutch auction 8 million KTY tokens are up for public distribution in a reverse dutch auctionand a portion of the proceeds are shared with some of the community members through a competitive, group referral incentive (see: Ether Top 20 Competition ). A reverse dutch auction is an auction where the starting price of a commodity i.e each kittieFIGHT KTY token, declines VERY slowly over time, allowing the user to buy at a comfortable price and market valuation. The starting price of the kittieFIGHT dutch auction is $0.40 ( ~ ETH) and gradually decline by a very small factor each Ethereum block (every 14 seconds). The cheap price is to guarantee affordability, wide distribution, and valuation level of the token necessary for quantifying pricing models within the kittieFIGHT DAPP game. The only catch is not being able to guarantee token availability due to the low price. A total possible raise of $3 million represents the hard cap with a soft capof 10% or $300,000 in ETHER. The soft cap is established to determine the pointat which the top 20 referrers(community participators ) are eligible to vote to have payouts made out to them. The amount of auction funds disbursed to the top 20 Referrers is 10% of the total funds raised at the time the vote is held or when the campaign reaches the Hard cap. The disbursement is made as long as the soft cap figure (10% of the hard cap or $300,000) is attained and the majority (greater than 10) of the top 20 referrers, vote to have the funds disbursed. This is a one-time event and cannot be repeated see Ether Top 20 Competition for more details and join “#top20-ether-competition” channel on our discord channel. To understand other details of the auction, visit the dutch auction synopsis now.

crypto_currency

**Kittiefight Token** is an Ethereum-Cryptokitties Real-Time Blockbuster Dapp Game that utilizes customized fighting kittie characters derived from the Cryptokitties platform. Backers share in token and ETH rewards generated from the game

a0vol1

AT&T ran my credit not only without my permission, but after I explicitly stated I did not want a hard hit

I called in to ask what internet speeds were available in my area. He tried to sell me on cable, which I declined. He asked for my social and my date of birth. I asked him why he needed this and he explained it was to make sure I didn’t have any past due balances with AT&T. I then double checked and asked him if it would hit my credit and he chuckled and said “no no sir nothing like that”. Fast forward an hour, I have an email stating my installation for phone, cable, and internet is scheduled(???) and then a few minutes later an email from credit karma saying I had a hard inquiry. Called in and spoke to 3 different departments, finally to a woman to tell me she couldn’t remove it because calling in to inquire about service was all the consent they needed. This clearly doesn’t seem legal, and wondering if anyone else has had similar experiences and what I should do next. TL;DR - spoke to ATT, they asked for social, I made sure it wouldn’t hit my credit, I was told it wouldn’t, and then it did. What next? EDIT 4: Filed a complaint with my attorney general. EDIT 3: Filed a complaint with the CFPB. All the support and advice here has been a true blessing and I thank each and every one of you for taking the time to comment with good advice and/or possible solutions. EDIT 2: I called back in, and actually had a great conversation with someone who was super understanding and willing to help. She got me to the fraud department. I spoke with Dorothy. She told me that it **did not matter** that I asked my credit not to be ran. That when someone calls in to inquire about service, they are consenting to a credit check. Doesn't matter if I didn't give my social, they would have used my DOB or DL #. She told me that I could not speak to a supervisor as this was standard practice, and she wouldn't escalate it. She also said some calls are recorded and some weren't, and she did not help me in finding the call from my first conversation. I then asked her for a copy of this call and her response was "I don't know if it's being recorded so I can't help you". She had nothing to say about the rep lying to me, and she said their credit disclaimer statement didn't sound anything like a credit disclaimer statement and I probably didn't even know it was read to me. Unbelievable. This is their FRAUD department. Jesus Christ. EDIT: I see a lot of folks saying “what’s the big deal, couple points will fall off in no time”. I just got an email from credit karma that a hard inquiry from 2 years ago just fell off my report, and that left me with one hard hit which was back in January. I’ve been working very hard on rebuilding my credit, checking quite frequently and really boosting my score. One or two points may not be a big deal to some but after working so hard to improve my score, having it lowered without my authorization or consent is devastating.

personalfinance

Everyone is focusing on the "hard hits suck, but suck it up" aspect of this, and I'm over here wondering whether or not AT&T just fraudulently signed you up for services that you did not authorize or purchase? If you did not request service from AT&T and they scheduled an installation, that sounds like fraud to me.

kvcg2t

FatFIRED at 35

$3.2M in investment accounts + $650K in real estate equity ( Two 4 plex rentals) I live in a MCOL city and quit my job this morning ( well.... Put in my two weeks ) . My rentals pull in about $50k profit per year and I'll be withdrawing $70k /year from my investment account. With my lifestyle of mtn biking , skiing, and camping living on $120k / year should be very easy. I currently own my dream home ( equity not factored into NW) . However, I plan on renting/AirBNBing it out and traveling with my partner. My living expenses are pretty much a wash from what I pull in renting the house vs spend on accomodations while traveling. So how did I get here? I worked at Tesla for 5 year's before the stock was above $30/share. Then transferred to a FAANG which has done very well. I've held on to my Tesla options and sold them off as certain price points have been met. Looking back - the riskiest thing I did was doing nothing with the Tesla options. I sold off a fair share to purchase rental properties / main house / cars. If I would have sat on it I would have had $10M + . But I'm okay with the measly $3.8M I have now :) I plan on having a kid or two, continue exploring the world, and dedicating my time to others. But for now , I'm going to enjoy a beer in the backyard. There's a memory I have doing the math of buying a house with my first jobs $50k salary at 25. Sitting in my car thinking how the fuck am I suppose to make any of this work. A lot has changed in 10 years, but this memory guides me whenever I felt lost. Cheers!

fatFIRE

Congrats and GFY. Please check in back here every 3 months or so with an update. There are some of us still stuck to our day jobs that are terrified about what happens after about 60 days of not working.

kl2fxl

What was February 1637 like?

I was basically non existent in 37, but reading about the markets during that time is kinda fascinating. What was January and February like? What was going through your head at that time?

CanadianInvestor

I'll never forget reading the news that Miguel de Horna had sunk or captured almost half of that Anglo-Dutch naval convoy off the coast of Cornwall. I had just gotten into the market and was heavily invested in several of the 16 English merchant vessels in the convoy. Due to my bad luck, not one of them returned. My first 100% loss. As you can imagine, it was a long time before I had the strength to re-enter the market.

845w0n

I am being charged $400 for a person I don’t know who claimed me as her guarantor.

So a few months back, my sister asked me to be her guarantor. I agreed. When I logged into the portal to sign the contract, I noticed she had also added me as the guarantor for one of her random ass friends she wanted to room with. After explaining to her how incredibly fucking stupid and unacceptable that was, I emphatically refused to sign her friend’s contract. Later, the apartments called me about the missing signature and I explained the situation and again refused to sign. Fast forward to a few weeks ago, I get a bill in the mail from a debt collection agency. This is where I fucked up: I assumed I’d never hear from the other girl again, so I thought my sister was behind on her rent. She showed me proof that she wasn’t so I figured they had sent this earlier, but that my sister had since paid. Turns out the girl was being charged for a no show on her contract and they are treating me as the guarantor. Neither the debt collection agency nor the apartments can show me documentation proving that anything was signed by me. But the debt collectors want an email from the apartments to clear me from the account. The apartments swear up and down that I signed, but somehow can’t provide me with any proof. According to the debt collector, it’s been over 30 days, so if they don’t get an email from the apartments within 48 hours, it’ll affect my credit. I have zero expectation that the girl would pay it even if I could get in touch with her. What can I do? How can I put pressure on the apartments to send that email?

personalfinance

You don't need to prove anything, send a debt validation letter to the collection agency requesting that they validate the debt before any further collection efforts. Since the proof doesn't exist, they won't be able to validate.

vn61rx

Unpopular opinion: 47% tax rate at $180k+ is too high

I'm sure I'll be downvoted to oblivion, but $180k is a very low tier to start taking half of earnings. The $180k top bracket hasn't changed in over a decade. House prices, wages, cost of living has gone up substantially since '09. The median salary has gone up 30% since '09, so we should see all tax brackets adjusted $235k should be the new top bracket. To be clear, I'm no just advocating for the top bracket increase but when you're talking about 1/2 being taken, it's no wonder we see so many trying to minimise tax through less productive ways (negative gearing/trusts etc) (Yes, I get how progressive tax brackets work...)

AusFinance

While the $180,000 level hasn't changed since 2009, all of the lower levels have, meaning anyone on the top bracket is paying $4,000 less tax now than they would have on the same income in 2009. [https://www.ato.gov.au/Rates/Individual-income-tax-for-prior-years/](https://www.ato.gov.au/Rates/Individual-income-tax-for-prior-years/) The plan from 2024-25 is that the $180,000 bracket will shift to $200,000, but also that those lower brackets will change as well meaning that someone earning $200,000 in that year will pay less tax than someone earning $180,000 this year. [https://www.superguide.com.au/how-super-works/income-tax-cuts](https://www.superguide.com.au/how-super-works/income-tax-cuts) I'm surprised we don't hear more from the Boomers about how in addition to 86% interest rates, back in their day (ie, pre-CGT tax reform) you paid 60% tax on anything over $35,000!

x7nyi6

Dad just died and left me with a mind-boggling amount of money. I just started college. What do I do?

Posted this in PF a week ago but it got removed. Hopefully you can help. Hey guys, I wanted post here to see if you had any advice. My dad passed away on Friday, a few days after I started college for the first time. I was never close with him, and he and my mom got divorced when I was young. I was informed this morning that I will receive an inheritance as I am over the age of 18, and it is a significant amount, in the mid/high 8 figures. My dad's lawyers say its tied up in equitys or something, and I'm not asking for advice about what to invest with it, I think it's being managed OK right now. My question is this: what do I do?! I was going to major in buisiness administration but now that doesn't seem like it makes sense, as I already kinda have made more than I ever would. I dont have any other majors in college that interest me, and I don't know what to do. Should I drop out of college and do investing full time? I can probably do angel investing or startups or something, but I don't know. Thanks.

fatFIRE

I'm sorry for your loss. What you said towards the end, "drop out of college and do investing full time," is how family fortunes get squandered. Right now, you know nothing. Study, take some time to mature as a person, get some formative life experiences. You can supplement your college with some additional curriculum tailored to your inherited wealth: books on personal finance, investing, family wealth, etc. There are lots of people who inherit this type of money that still pursue meaningful work. You have a long life ahead of you.

pc2h2p

75% Capital Gains Tax promised to Canadians by NDP

"Further, they propose to increase the inclusion rate on capital gains tax to 75 per cent. That would be a big increase from 50 per cent at present. Singh’s plans to soak the rich reflect his obvious disdain for the wealthy." [https://epaper.nationalpost.com/national-post-latest-edition/20210826/281741272510483](https://epaper.nationalpost.com/national-post-latest-edition/20210826/281741272510483) [https://www.investmentexecutive.com/news/industry-news/ndp-pledges-to-raise-top-marginal-tax-rate-capital-gains-inclusion-rate/](https://www.investmentexecutive.com/news/industry-news/ndp-pledges-to-raise-top-marginal-tax-rate-capital-gains-inclusion-rate/) Hopefully such an increase will be phased in over time (ie. several years)!

CanadianInvestor

It's not a 75% tax on capital gains, they're proposing that 75% of a capital gain is taxed rather than the current 50%. The taxable portion of your capital gains would still be taxed at the same rates as they are currently. Big difference.

m0bgbz

Behavioural lessons learned over 30 years of investing

These are some important lessons I have learnt over 30 years of investing from a young age . These are my experiences , so I cannot really post hard data or do analysis . They have become part and parcel of what I think 1. Get rid of all membership programs , frequent flyer miles, restaurant coupons, exclusive invites . They distort behaviour and thinking . You start seeking comfort and gratification in meaningless trivialities . If you want comfort seek it from family , friends and the almighty . Over 30 years I have surrender everything , including my black diners club and the Amex platinum charge card . I only maintain a family membership to a members only club because I like the food and it’s 50 % cheaper to entertain vs a restaurant and my children can access recreation. 2. Condition your brain to live on rent . By choosing to live on rent the opportunity cost savings over last 3 years have been to the tune of 75 L when compared to a bank FD yielding 7 percent . Over 3 years , its significant . 3. The most difficult one , take advise from people who are better smarter richer than you . This is difficult as you have to let go of your ego and cultivate them . I personally found this to be the hardest . 4. Do not hesitate on spending for small pleasures of life to indulge your family . X amount saved now will not amount to much later . But it will help your relationships 5. Keep your investing and accounting simple from the beginning . You avoid wasting time that can be spent productively 6. Manage your liquidity daily , review it daily , and keep it more than adequate . That is what will give you the strength to hold on to your convictions when life, health and investments all three take a u turn on the same day. I have seen it happen in 2009. 7. Cover all risks - life , health and disability . Very few Indians cover disability . We are binary thinkers . Sometimes being disabled is worse than death and certainly more expensive. 8 Segregate your child’s portfolio by age 5 . This will allow you to place long term bets because you know your child has 15 years to go . You may not . 9. When you approach an investment , don’t approach it with hope , approach it with extreme distrust . Let your analysis peel away your distrust . This in Latin is called via negativa . 10. Keep investments in joint names with your spouse or split with spouse . I know several people who kept everything in their name , are getting impacted by higher tax slabs and cess and the spouse leaves no occasion to rub their faces in it . I believe lower taxes and a happier spouse are desirable outcomes . Others may differ or seek proof. Or want higher taxes and disgruntled spouses .

IndiaInvestments

Thanks for sharing your thoughts. > take advise from people who are better smarter richer than you I'm not sure on this one. Personally, I consider "advice" pointed out by others; but I try to evaluate any advice received based on first principles. I've met people 1000x richer than me, dumb as brick - some people are lucky, and do fail upwards in life. As for smarter, just because someone's smart in one domain, doesn't mean they'd be smart in others. Especially, with most Indians, I've seen they choose to ignore skilling up in personal financial matters, even if they are nuclear scientists at their jobs (not an exaggeration, knew someone from BARC). > I know several people who kept everything in their name , are getting impacted by higher tax slabs Wouldn't income clubbing impact here?

9xeufz

Swachhcoin Proposed Solution

It is not a hidden fact that the global waste management problem  we face cannot be tackled by a handful of people or organisations. The willingness and contribution of the mass is the key in successfully achieving our objective. The best way to encourage people to properly manage their wastes will be to incentivize them monetarily for proper waste disposal and raise their awareness about the issue. This is the core of the solution Swachhcoin offers. Also, it is a scientifically proven fact that the amount of high-economic-value outputs that can be obtained from the accumulated wastes is tremendously reduced due to various types of waste being intermixed, thus degrading the unique property/individuality of the same. Swachhcoin will implement waste segregation at source in SWBIN to eliminate this problem. The traditionally running waste management industries  have poor infrastructure and the archaic technologies available to them greatly limits their operational abilities. Swachhcoin will eliminate this problem and take the technological abilities of the company to the state of the art level, thus increasing their profits significantly. The additional revenue obtained from deploying technologies such as AI, Big Data, IoT and Blockchain will increase their efficiencies and profitability, thus the additional capital invested in upgradation will be justified over a certain period of time. The cost of these additional investment will also be covered from ways that are currently absent in this sector such as revenue obtained from advertisement (on SWBIN). With the help of extensive research and development, a complete business plan, including break even point, will be made available by Swachhcoin to the adopting industries thus breaking the barrier of technology adoption.

crypto_currency

Big data in general refers to collecting and storing large amount of data in order to extract useful information which enables smart and effective decision making in real time and future. The collected data maybe in various forms and sizes and from various sources.

t48y28

Whats wrong with some of you?

Where are all these „is [insert russian stock] a good buy posts comming from? I mean seriously? Read the newspaper guys. Imho nobody can seriously think about putting money in a stockmarekt that is likely gonna stay closed for non-russians and call it vAlUe InVeStInG

ValueInvesting

Yeah absolutely. And have seen many say of the current situation as well, look at the company fundamentals and everything else is noise. But in this case, how are you going to get even your original capital back even if company does all good, but the country blocks you from cashing gains or allows you to get out only on their terms. Isn't value investing first and foremost about controlling downside risk on your capital.

jw8qeu

Are "the rich getting richer" and "the poor getting poorer"?

The most popular saying of all time. I've come here to see if it's true. .”The wealth gap between upper-income and lower- and middle-income families has grown wider this century. Upper-income families were the only income tier able to build on their wealth from 2001 to 2016, adding 33% at the median. On the other hand, middle-income families saw their median net worth shrink by 20% and lower-income families experienced a loss of 45%” Is what someone told me today (or most likely quoted from somewhere else). Does this mean that the saying is true?

AskEconomics

The share of wealth of the top 1% and top 10% has been relatively stable over the last two centuries. https://www.researchgate.net/publication/319227140/figure/fig2/AS:669671804117000@1536673608298/Figure-no-1-Wealth-inequality-Europe-and-the-US-1810-2010.png And up until recently, the real wealth of the bottom 90% has grown quite steadily. https://i.guim.co.uk/img/static/sys-images/Guardian/Pix/pictures/2014/11/11/1415705163748/7200feb5-69a6-43f2-a5ee-9f7251941be4-bestSizeAvailable.png?width=1920&quality=85&auto=format&fit=max&s=57369e63eaa177bb49e9cab4c3391f68 So no, there is no general trend of the poor getting poorer. The rich get richer and the poor also get richer. The poor just haven't been able to recover from the last recession. That said, I'm not necessarily comfortable with using household data since household wealth might also be driven by household composition. People get richer the older they get, simply by virtue of having more time to accumulate wealth and earning more money later in their careers, so if people for example marry later in their lives now, their households, and their household wealth, is smaller for longer periods in their lives. Sadly I can't seem to find much data on individual wealth.

oxo0zl

What do economists think of market socialism?

What do economists think of models of socialism where the means of production are owned by the workers, not the state, operating through a mixed market? Is such a thing even feasible?

AskEconomics

The problem with this approach is that it creates a mismatch between supply of and and demand for capital. Different industries have wildly different capital to labor ratios, so you end up with situations where, e.g., landscapers own very little capital while factory workers own huge amounts of capital, despite these jobs having similar skill requirements. How does that happen? It's not hard to buy landscaping tools, but how does a worker fresh out of high school get the cash to buy a share of a factory so he can work there? Maybe the factory worker doesn't have to buy in, but gets shares of the factory in addition to a salary. So he must get paid a lot less than the landscaper. But that's okay, since he has savings in the form of factory shares which I guess he'll sell to new workers when he retires. Unless the factory goes bust. Then he's kind of screwed. Investing your life's savings in one business isn't a great idea. Also, if the factory goes through a rough spell and loses money for several years, how do workers get paid? Meanwhile, the landscaper is living large on pure cash compensation. He's making so much money that he decides to save some and invest it in...what, exactly? There's no stock market because the means of production are all owned by the workers. Some market socialists allow the issuing of bonds, although it's never really been clear to me why buying a portion of future EBITDA via lending is kosher while doing so via equity is not. So there's an option, maybe. Elsewhere, a group of young geniuses have a great idea and want to start a business. Let's say that after five years it has a 90% chance of failure and a 10% chance of making $10 billion. They need $5 million dollars to pay their business and living expenses for the next 5 years. They do not have this money. Lending is not a good way to fund this because of the high risk of failure. Equity investment would be ideal for this situation, but that's not allowed, because workers have to own the means of production. So they just go to work at existing companies. To summarize, a non-exhaustive list of the problems: 1. People who have cash to invest and people who need capital to do their jobs are often not the same people. This is an especially big problem for forming new firms, since bootstrapping is infeasible in industries that require large up-front investments. 2. Workers who save money benefit from the ability to diversify their investments. Investing exclusively in the company where you work is a really bad idea. 3. Often less-skilled workers simply are not productive enough that they can afford to take a large share of their total compensation in the form of shares. We have capital markets in order to allocate capital efficiently and mitigate risk. When you don't allow the roles of worker and investor to be played by different people, that doesn't happen. Furthermore, workers who want to own the means of production can do that right now. All we have to do is set aside some of our pay to invest in the stock market. Preferably in an index fund instead of just one company.

lhhvuo

Killing pump and dumps targeting /r/ASX_bets for fun and shitposts

It has come to the mods attention that an organized pumping event was planned for this subreddit starting with a cordinated an attack in the Monday Daily thread. This knowledge was obtained via various means, including the use of people (yes, plural) who have slightly more mental and ethical capacity than others telling the mods when things shifted from perfectly reasonable discussion of future rockets to plotting. At this point, things have not appeared to have reached the point of a pump on this stonk, but one has been planned. ​ The quiet buying has apparently occurred this week, the pump was planned for next week, the dump would likely have been the week afterwards. For everyone not involved in this, remember. You were the people they were planning on making hold the bags. This wasn't a rise, this was a planned transfer of wealth. ​ The guilty parties have been identified, they will be given a ban of varying lengths. The ban length was tempered by ringleaders admitting to their plans and outing the others (It is better to admit your mistakes, we understand that you made poor judgement). We will find others soon enough, the best way to avoid a longer ban is to confess. People ask about the line between discussion, hysteria, self delusions, pumping and a pump and dump. Actively agreeing to quietly buy, then raid a place to make those on the outside of the group increase it's price, then selling out to make the outsiders hold bags is the line. We have not waited until everyone was all in before nuking this. The phrase "I wonder if we should let their money burn." was raised. But mummy and daddy are being nice. This time. ​ A temporary block has been placed on that ticker. If you post it, your comment will be deleted. if innocent parties miss a rocket next week, that is an unfortunate outcome. Please direct your ire at the people who were trying to fuck you. ​ Note: This makes no comment on whether the Stonk in question is a legit future rocket or a dog. It might be the next VUL, it might be the next EM1. If I knew that, I wouldn't be hanging around here all day. The temporary block on that ticker is based on a simple premise "If it needed you guys to pump it, was it really a rocket?" Good stuff will rise on it's own, it doesn't need organizational effort. A real honest attempt at DD is still DD. But coordinated attacks are not DD. ​ Going forward, we would actually be happy if people outed pump and dump schemes. We are their victims. Some stonks rocket into orbit, some are merely thrown by pumper catapults, ready to fall back to earth. There is no one doing 140% shorting in Australia. But if you want something to get your pitchforks over, maybe try this. ​ TLDR. Moe, we know you're behind this. SO KNOCK IT OFF. ​ If this post feels a bit cold to you, remember. People loudly yelling are easily identified. People about to snap with massive rage are not. ​ I am the Lord of Ruin. Post script Edit: Bans have been applied. We expect not all the guilty have been caught. Evidence of guilt is requested if anyone has it. For this and all future events. This was fairly exhausting to the mod team, we suggest thinking things through before doing in future. Though posting evidence of any Pumping inside or outside /r/ASX_bets is very welcome. Let's kill this stuff. Additional Note: The lead guilty party in question has since claimed they are an idiot who had no idea how the stock market worked and claims that they believed that the late stage of an artificial pump is a period of permanently high prices. Presumably this period also included infinite supplies of rainbows and bunnies. We have also considered the idea that they are developmentally delayed which we can not discount. We request all people learn that artificial jumps can not be sustained unless demand is permanently raised and that all buyers learn what a market cap is.

ASX_Bets

Maybe just me but I feel an organised pump n dump is some perma ban territory... Thank you to the Lord of ruin and all the other mods keeping this community safe from scammers. Gotta say it's pretty disappointing but as the old adage goes DYOR

xxmizd

You only live once - a response to recent posts

A rebuttal to the posts regarding advice from 30s to 20s etc. Remember, you're not taking your belongings with you. Your house, your money, your family, no one is coming with you when you pass. Now, I'm not suggesting that people throw caution to the wind and blow their savings and do drugs. I'm saying that striking a balance is what's important. Is it necessary for you to earn an income in order to afford a $1 million house? Is it worth the extra stress, time, commitment and performance pressure? If you looked back, would you have preferred a more simple life with low overheads etc and not having to work like a dog to afford an overpriced asset? Would you have preferred to pursue something that was more fulfilling? These are all questions to ask oneself. This post might not go down well with much of the community, I get it. Most here are high income earners/achievers where it's almost their hobby just to make money. This is a post for people who feel pressured that they need to perform, that they feel pressured they need a house, that they need a high income. I've been through burn out myself, it's not worth. I had an epiphany over half a year and took me burn out to realise this.

AusFinance

I’m actually considering whether I want to start blowing more money on coke, and I think the answer is yes. I’ve been frugal and disciplined for years, have reached my goals, and now I wanna live a little.

zqu6rw

Why is rent getting so insanely expensive?

I live in southwest Florida. Hopped on Zillow to find a crap studio apartment at nearly $1900. A 3bd2br seems to range. from 3000-5000. How the actual fk… are we, normal and average people supposed to live… i just want to understand why it’s happening because every time I start looking at places, my blood pressure spikes, I shit you not lmao.

AskEconomics

I've [written comments on this before](https://www.reddit.com/r/Economics/comments/y3kcxk/comment/isavyl5/?utm_source=share&utm_medium=web2x&context=3), but the primary factor is local land use restrictions that make it difficult to build new housing. The result is that in certain locations, demand for housing has soared while supply of housing hasn't kept up.

m0bgbz

Behavioural lessons learned over 30 years of investing

These are some important lessons I have learnt over 30 years of investing from a young age . These are my experiences , so I cannot really post hard data or do analysis . They have become part and parcel of what I think 1. Get rid of all membership programs , frequent flyer miles, restaurant coupons, exclusive invites . They distort behaviour and thinking . You start seeking comfort and gratification in meaningless trivialities . If you want comfort seek it from family , friends and the almighty . Over 30 years I have surrender everything , including my black diners club and the Amex platinum charge card . I only maintain a family membership to a members only club because I like the food and it’s 50 % cheaper to entertain vs a restaurant and my children can access recreation. 2. Condition your brain to live on rent . By choosing to live on rent the opportunity cost savings over last 3 years have been to the tune of 75 L when compared to a bank FD yielding 7 percent . Over 3 years , its significant . 3. The most difficult one , take advise from people who are better smarter richer than you . This is difficult as you have to let go of your ego and cultivate them . I personally found this to be the hardest . 4. Do not hesitate on spending for small pleasures of life to indulge your family . X amount saved now will not amount to much later . But it will help your relationships 5. Keep your investing and accounting simple from the beginning . You avoid wasting time that can be spent productively 6. Manage your liquidity daily , review it daily , and keep it more than adequate . That is what will give you the strength to hold on to your convictions when life, health and investments all three take a u turn on the same day. I have seen it happen in 2009. 7. Cover all risks - life , health and disability . Very few Indians cover disability . We are binary thinkers . Sometimes being disabled is worse than death and certainly more expensive. 8 Segregate your child’s portfolio by age 5 . This will allow you to place long term bets because you know your child has 15 years to go . You may not . 9. When you approach an investment , don’t approach it with hope , approach it with extreme distrust . Let your analysis peel away your distrust . This in Latin is called via negativa . 10. Keep investments in joint names with your spouse or split with spouse . I know several people who kept everything in their name , are getting impacted by higher tax slabs and cess and the spouse leaves no occasion to rub their faces in it . I believe lower taxes and a happier spouse are desirable outcomes . Others may differ or seek proof. Or want higher taxes and disgruntled spouses .

IndiaInvestments

Point #2 - I am interpreting this as don't buy real estate ever. If so I disagree with this strongly I have encountered this recieved wisdom very frequently both online and offline. The reality is not so clear cut. Rental yields in India are low - but they have mostly always been low. In my hometown in north india, properties have appreciated by 20x **at least** since mid 90s (so ~25years). Some of the areas which were "outlying" then, but are well within city limits now have appreciated 100x. I have heard similar things about Gurgaon, Mumbai and Bangalore. My message, especially to people moving into their 30s is that Real estate needs due diligence and patient holding, but it is a asset class everyone should seriously consider as a part of portfolio. Don't be greedy but don't live in fear either. However, one might invest somewhere (attractive investment) and live somewhere else (near office/school/nightlife), for which rental is perfect, and if that was the point, pls ignore me.

pukrxr

How are most crypto currencies not Ponzi scheme?

I see people talk online about crypto. They talk about bitcoin, etherium etc. What I don't get is, these cryptos don't produce any stuff, require special tools to mine which is a costly process, thus creating a net negative sum game for cryptos like Bitcoin. They also don't really have any function in society, they are not government approved for say, paying taxes, they are horrible for general transactions too. So, it doesn't even benefit society in a meaningful way (in my opinion), so even for societies, Bitcoin is a net negative as it is sucking up capital to unproductive endeavour. The only reason people talk about cryptos is because they are gaining in value which is happening because there's more demand for it than there's supply. And people are seeing that others have benefited and they are just following them. So my question is, isn't cryptos like Bitcoin just a glorified Ponzi scheme then? Even metals like gold have ornamental and industrial uses and other metals like Silver, Platinum have extensive industrial use.

AskEconomics

I'm going to answer this from a legal perspective because there's a prevalent misconception of what a "Ponzi scheme" is. The short answer is that what you're describing is not a "Ponzi scheme." In a Ponzi scheme, a person invests in a business and is paid at regular intervals with funds from subsequent investors. A Ponzi scheme involves the investors being deceived as to the sources/legitimacy of the funds used to pay them. Crypto currencies don't work that way. If you buy one bitcoin, that's it. You own a bitcoin that might go up or down in value, but you aren't being paid in cash with funds from subsequent investors. The only way you get cash is by selling the bitcoin, and there's no deception or mystery about where that money is coming from. So crypto currencies are not a "Ponzi scheme." That's not to say crypto currencies are a good investment; beanie babies weren't a "Ponzi scheme," but they also weren't a good investment. It's also not to say that the "investment advice" people give about crypto currencies is legal. What you're referring to is something more like a [pump and dump scheme](https://en.wikipedia.org/wiki/Pump_and_dump), where people artificially inflate the value of an asset with misleading statements. That's much harder to prove than a Ponzi scheme. It's pretty easy to prove someone is lying about the source of a business's revenue if there's no legitimate business activity going on. It's much harder to prove someone is knowingly lying when they say, "I think the value of \[madeup coin\] will increase 10%."

m5rwqe

How I research stocks from idea to buying decision

I'm **not** an investment professional or regulated to give any form of advice, so this is only how I do it (and not necessarily the best way). I am sure there are plenty of people who can offer some constructive criticism. Thorough stock analysis is something people should do before buying any stock for investment. I've done the classic story stocks, jam tomorrow etc, and now looking to build some investment positions for the longer term. I have a 15 step process which I'll explain in detail: ​ 1. Find an idea 2. Find the market capitalisation 3. Analyse the chart of the stock 4. Read the recent RNS announcements 5. Check the stock's EV 6. Check the stock's PE 7. Check the company website and AIM Rule 26 8. Look at the income statement 9. Check the balance sheet 10. Understand the cash flow statement 11. Identify any sector headwinds/tailwinds 12. Understand how the company makes its money 13. Identify the drivers of the business 14. Research the company's competition 15. Check the broker forecasts ​ **1. Find an idea** This can be from anywhere. I was surprised at how often ideas came from real life - I once got a Gear4 Music speaker from my parents for my birthday or Christmas - when I checked years later the stock had multibagged. I thought it was a cool product but didn't follow that lead. As Peter Lynch says "Behind every stock is a company - find out what it's doing". Ideas can come from new brands/shops popping up, friends talking about works, the news, and more. For example, the Guardian reported that many bars are already fully booked up for months. That suggests to me there will be a large tailwind in the hospitality sector with pent-up demand, so I may look to try and trade this. ​ **2. Find the market capitalisation** This is important because elephants don't gallop. It's also harder to get an edge on larger companies, as there will be several teams of analysts covering the stock in detail. The smaller companies get less attention, therefore the opportunity to outperform is greater (but risk also increased). The calculation for market cap is simply share price \* shares in issue. I'll rarely look at stocks above £250m market cap - at the moment there are lots of small cap stocks that have slashed costs and are now leaner than they were pre-Covid. ​ **3. Analyse the chart of the stock** Lots of investors say that charts don't matter. I find that hard to understand as the price charts tells me the money-weighted opinion of the stock over a period of time. I avoid charts that are trending downwards. Look for stocks trending above the 200 SMA and where the price is pointing upwards. ​ **4. Read RNS announcements** The goal here is to understand what has been happening recently. Check the results, or trading statements, and read the narrative.  It’ll always sound positive, but there are always clues: * A focus on highlighting revenue or EBITDA growth may mean the business isn’t as profitable as directors would like it to be * A mention of a ‘step change’ or turnaround could be a lead to dig further * Recent directorate changes could signal an underperforming board being replaced by new faces Only by reading the RNS announcements do I feel I can begin to understand the story and start making sense of the share price chart. For example, a profit warning several months ago would explain a gap down in the share price and continued downward slump. ​ **5. Get the stock's EV** EV is Enterprise Value. This is simply the market cap plus debt minus cash. There are other more conservative EV calculations but this is the one I use. It's a quick way of checking whether the company has plenty of cash or plenty of debt, or evenly balanced. For example, a company with a negative EV has more cash than its debt and market cap! Companies with discounted EVs compared to market caps show the company has net cash rather than net debt. Debt isn't always a bad thing but high debt companies I'll tend to steer clear from. ​ **6. Calculate the PE** The PE is the price-to-earnings ratio for the stock, and the earnings multiple of the company (PE ratio = share price/earnings per share). For example, a PE ratio of 5 would tell us that the market currently rates the stock at a 5x multiple of the company’s earnings per share.  It also means that - all variables remaining constant - the stock will take 5 years for the company to earn its share price in earnings. The P/E ratio tells me the sentiment of the stock. A stock rated at 40x earnings is highly valued by the market, and a stock rated at 5x earnings is rated cheaply. One issue with PE though is that it doesn't factor into the earnings growth rate. Paying for a company at 30x earnings may be a bargain if it is growing its earnings at 50%. However, this doesn’t mean that the market is right. We may wish to check the price/earnings to growth ratio (PEG ratio) which is the stock’s PE ratio divided by the company’s growth rate in earnings per share.  A fairly valued stock for its growth rate of earnings will give a PEG ratio of 1. Anything above could be considered to be overpriced, and anything below could be considered to be underpriced. Hence why I prefer numbers close to 1 and below. ​ **7. Check the company website and AIM Rule 26** The most important parts I feel here are: * Significant shareholders * Directors * Annual report *Significant shareholders* The shareholder register is important. Any notable institutions or individuals with a good track record here are signs of interest. If there are few institutions this can be a catalyst in the future if institutions decide to buy. *Directors* Directors are a big part of small cap stocks. What I look for here: * What companies did the directors work at before and were these companies successful? * What size were these companies? If a CFO makes a huge jump he could be out of his depth * Were these companies listed and did they deliver shareholder value? * How many non-execs and do they sit elsewhere? Are they busy directors? * What do the directors pay themselves? Is this excessive? * Does the company have **entrepreneurial management?** The last bullet point is what I'm most interested in. A director who has successfully turned around companies before and has a track record is someone I'd like to see in a potential turnaround play. *Annual report* The annual report is rarely read by investors. This contains a lot of the information management doesn't want us to see for that reason. The financial notes are a must-read, as are the chair and chief executive statements, the remuneration report, the segmentation for revenue, risks report, and the audit report. I read annual reports from start to finish. ​ **8. Income statement** Here, I want to see the revenue increasing, as well as a strong gross margin. The number I most look out for as a comparator is operating profit and EBIT (these will usually be the same as operating profit includes minority interests). EBIT is an earnings number before those with interests and taxes see claims. I also look for administrative expenses. These should be relatively flat or slowly going up, or even better going down. A company that grows its sales but also sees its admin costs rise relative to revenues is not going to go far. Keep an eye out for share-based payment charges. I've heard one management team tell investora to ignore these - you shouldn't because SBP charges have real consequences. These shares dilute investors (the owners of the company). Profit after tax is the bottom line and the line that really matters. Be careful companies aren't reporting 'exceptional' costs every single year. Companies that do will report 'adjusted profits' which are always better than the real profits - or lack of them. ​ **9. Balance sheet** I check the cash balance here, as long as payables and receivables. I don't want to see receivables growing much faster than payables as that means cash is spending less time out of the business. With smaller companies it's inevitable but poor cash collection can lead to cash calls such as discounted placings. Current and non-current liabilities are always worth checking too. Debt is not a bad thing if it's manageable and even has certain advantages (tax shield). NAV and NTAV also worth checking to see what the company is worth in real terms (net asset value). Be careful with NAV because one company decided to capitalise its drilling costs as an asset (despite the company drilling and finding nothing) which fluffed up the NAV price. This is why I like NTAV as it only looks at the tangible asset value. ​ **10. Cash flow statement** Check the cash flow of operations to see whether the company can generate enough cash to keep itself going. Cash is the lifeblood of the business and more important than profit. Also, check the investing cash flow statement to see what the company has been doing in the financial year. There will likely be capex but is this for maintenance or growth? Maintenance capex keeps the company bumbling along whereas growth capex is for growth. If we want to go deeper than check the depreciation and amortisation policies too. Many a profit has been overstated by management teams using discretion here. The financing cash flow statement shows how a company has financed itself through the year. Large inflows here often mean dilutive share placings (but not always). ​ **11. Identify the headwinds and tailwinds** Smaller companies will be more affected by these than larger companies. Sector environment - if it's involved in commodities then what is the outlook here? Global outlook? Regulatory environment - what are the regulations like? Are there pressures to change these? Economic environment - important for consumer facing business. What is discretionary spending looking like in the next six and twelve months? If the company operates in another country, what is their economic environment looking like? Other things to consider are interest rates. When the cost of capital rises, the risk-free rate increases and so stocks become less attractive and bonds more attractive. Finally, political environment - mining companies in Africa? Can their assets be seized? Stocks operating in unstable or unusual countries tend to trade at discounts. Sometimes for a good reason and sometimes for no reason. ​ **12. Understand how the company makes money** This one sounds obvious but if I can't understand how a paying client gets value out of the stock's offering and how that cash moves through the business into profit then I don't buy it. If a business is too hard to understand then there might be a reason for it. Or maybe I'm too dumb. But I don't take that risk. I like technology stocks and I'll never understand how the technology itself works, but as long as I know what it does and how the customer gets value out of it, that's what matters. ​ **13. Identify the drivers of the business** This is where I look to see how the company can grow its earnings or justify a re-rerating. Lots of companies are listed on AIM but never achieve the scale and size to hit the inflection point and start growing significantly. Potential drivers include exiting a loss-making subsidiary, fast-growing product or offering, new board and management, change of strategy and business model etc, bull market for commodities.. ​ **14. Research the company's competition** I use Michael Porter's Five Forces here and think about the threats from the existing competition, but also from suppliers and buyers, substitutions and new entrants. Smaller companies can adapt to threats much faster but are also more vulnerable to destroyer pricing. The company needs to have an edge to beat the giants. ​ **15. Check the broker forecasts** Don't place too much value on broker notes. This is because you never bite the hand that feeds and so you'll never get an objective view. But broker notes can be useful in understanding the business better but also checking the forecasts. Earnings upgrades are key drivers of a stock price and if the company is on track or has a good chance of beating the consensus forecasts, this can be a catalyst for the stock price to move up over time. ​ **Conclusion** I realise this is a long post, but I think I've covered most things I look at. Interested to hear what you look at or what I should pay more attention to. Ideally, from all of the above, I want to find a company for a fair price that has a reasonable chance of growing into a valuation or with a runway for growth, which has no big red flags and has capable management. I also want this to be in a stable environment where success is not too demanding, and there is little broker or institutional interest in the shares. If you're interested, please check out my blog on the UK stock market: [www.shiftingshares.com/blog](https://www.shiftingshares.com/blog)

UKInvesting

As someone who is very new to Stock Trading, this is valuable and i'd like to thank you for taking the time to write this. I have bookmarked your blog for further reading. I'd be interested to see what other traders think of your strategy.

xbj8pp

Why Has Buffett Not Made Any Great Buy for 15 Years Other Than Apple?

As far as I know, Buffett hasn’t made any great buy for 15 years, except for Apple. I wonder why. Has Buffett lost his investing edge? Or is that the nature of great value investing opportunities; they can be absent from the market for as long as fifteen years. Or has Buffett actually made great buys in the past 15 years that I’m not aware of? What do you think?

ValueInvesting

Occidental Petroleum will probably be churning out cash to BH for quite a long time, so I think that's a great buy they got into when the oil price crashed in 2020. Also, from what I read they made a nice 600% profit on the BYD investment.

kay9xx

Why isn’t the US federal government investing in infrastructure to try and stimulate the economy like China is?

Doing this just seems to make sense: you help fill the gap that the drop in consumer spending has created and you produce something useful that would likely improve efficiency and the productive capacity of the economy. This seems especially suited to the US due to some of the country’s antiquated infrastructure. This is why I can’t work out why the US wouldn’t try and stimulate the economy in this way. China has been investing heavily in infrastructure so much so that some believe the massive increase in the price of iron is because of this. Why isn’t the US doing the same? EDIT: [here](https://www.documentcloud.org/documents/3409546-Emergency-NatSec50Projects-121416-1-Reduced.html) is a lost of vital nationally significant infrastructure projects where it would make sense for the federal budget to be used to fund them.

AskEconomics

This question is more political than economic. Economists broadly support fiscal spending on infrastructure, especially as a countercyclical policy: https://www.igmchicago.org/surveys/infrastructure-spending/

xxmizd

You only live once - a response to recent posts

A rebuttal to the posts regarding advice from 30s to 20s etc. Remember, you're not taking your belongings with you. Your house, your money, your family, no one is coming with you when you pass. Now, I'm not suggesting that people throw caution to the wind and blow their savings and do drugs. I'm saying that striking a balance is what's important. Is it necessary for you to earn an income in order to afford a $1 million house? Is it worth the extra stress, time, commitment and performance pressure? If you looked back, would you have preferred a more simple life with low overheads etc and not having to work like a dog to afford an overpriced asset? Would you have preferred to pursue something that was more fulfilling? These are all questions to ask oneself. This post might not go down well with much of the community, I get it. Most here are high income earners/achievers where it's almost their hobby just to make money. This is a post for people who feel pressured that they need to perform, that they feel pressured they need a house, that they need a high income. I've been through burn out myself, it's not worth. I had an epiphany over half a year and took me burn out to realise this.

AusFinance

I'm on the flip side. I'm 27 and investing like mad, because I watched my parents be poor in their middle age and it sucked hardcore. It really really sucked. I see all these posts like yours about living it up, but it's rather difficult to discard the evidence I grew up with right in front of my eyes. And the reality of house prices, wages, whatever, means I have to invest a lot more a lot sooner to achieve the same level of well-being as my folks, let alone going further. How sad would it be if I couldn't go further even with the leg up they gave me?

98n8s1

Cyclean - Marketing

For the success of CyClean ICO, we are both eager to invest on online marketing and offline marketing. The publishing point of this whitepaper triggers threshold for CyClean teams to engage more actively on marketing schemes. We are operating various online marketing tactics such as social media posting and maintenance which can constantly deliver messages of CyClean to the general public. In our website, one can find all of our social channels to stay tuned with on-going CyClean processes. We treat following social channels. (Links are at Appendix) Additionally we are also conducting display ads for online community where the main topics for cryptocurrency and blockchian are evident. For the whole online marketing, we are aiming major countries where ICO investments are active and retargeting appropriate users in order to perform effective marketing actions. We did not overlook the importance of offline marketing as well. Because we are well connected with TOP advisors of cryptocurrency landscape, and because they trust us and want to share our message to the world, we are invited to many prestigious offline roadshows or pitch talks or summits. Within our allowed budget, we are sending agents to go spread the message to citizens of various countries. Although offline marketing may reach smaller crowd than online crowd at the moment itself, it has powerful influence over people and over industry opinions because a real person, most of the time founder or core director, visits the place with real presence so the outcome is quite as powerful as the online marketing.

crypto_currency

The CyClean vehicles have a wireless network such that they are easy to track. The platform after launching the rental service hopes to airdrop JPAY SILVER that will be based on CyClean coin procession to sales member stores and allow for A/S service and parts sales service sales using the Cyclean coin. This will allow for the growth of the CyCoin. The Cyclean platform will soft launch the rental service through smart contracts using the CyClean coin as the starting point and then expand the product line.

94th7z

4New’s blockchain

Electricity is an intangible commodity. Nevertheless, it is not practical or feasible to scale access to electricity globally due to its dependence on tangible infrastructure that tends to be localized and dependent on jurisdictional laws and local supply demand economics. With the advent of the blockchain technology, for the first time in human history, we have the ability to scale a localized, intangible commodity such as electricity, globally. Historically, power providers would structure Power Purchase Agreements with large consumers of power such as factories or manufacturing lines. This would allow the consumers of power to negotiate deeply discounted prices due to the collective bargaining strength of their unique vantage point. The KWATT Coin allows us to fractionalize the output capacity of a power plant down to the most fundamental and basic unit, which is the kilowatt hour. Moreover, by pegging the power unit to the coin, for the first time we can make power mobile as long as the power plant has the supply of electricity to back it up 4NEW has successfully configured the KWATT coin to be pegged with electricity since we are a power producer not an exchange. Furthermore, the 4NEW blockchain will enable holders of the KWATT coin to stake their tokens on the network allowing consumers of power to utilize the staked coins in order to process crypto transactions for currencies such as Bitcoins, Bitcoin Cash, Ethereum and Dash amongst others. In this manner the 4NEW ecosystem including the power plant and the mining farm will operate on the underlying blockchain technology making kilowatts mobile and scalable globally. The 4NEW decentralized, distributed ledger is also where all actors in any industry will be able to transact using the KWATT coin. The coins are smart contracts which establish a binding relationship between transacting parties and provide a value for each transaction. The ledger will provide an immutable and auditable journal of all transactions related to purchase and sale of goods and services on the blockchain. With all parties to each transaction being able to see the same ledger entry, costs of reconciliation and potential issue of disputes and revenue leakage are controlled to a very large extent.

crypto_currency

“4New is not an energy exchange platform, like WePower and PowerLedger,” 4New CEO and founder Varun Datta told me. “The energy which is bought and sold by these other solutions is brokered, not produced by them. 

pwcmul

Gather round the fire.

Alright my retarded family. I wan't to talk about careers and the future. Most of us are in our 20's, 30's 40's 50's. Some of us don't have to worry a whole about out jobs/ careers and university pathways becoming obsolete. Some of us do. There will/may be some changes with EV's, driverless vehicles, driverless trucks, automated factories, automated building and much more. So there may be a few roles in the future that people need to be mindful of. -Working in a service station could be something that becomes obsolete. - truck drivers - Taxi drivers -uber drivers -forklift drivers -brick layers While some of it is hypothetical. I would like to hear thoughts and also other careers that may become obsolete???This could also help with our investments. Ill flag it as dumbfuck discussion. But it is a serious topic id like to discuss if anyone has a minute.

ASX_Bets

Mate, we live in Australia. Land of the before times. Have you seen our fucking trains, now compare them to other countries. They could create a robot that does literally everything I can do, but 1000x better (that's a LOT of masturbation), and it wouldn't set foot in this fucking country until 2121. Luckily progression and technological advancement is an absolute non-event in this country. Anyway, gotta call me mum so gonna have to disconnect my dial up for a bit, I'll fire my modem up ASAP after though to reply! Edit: spelling autism.

odasuk

Is it just me or does it seem that Realtors are just glorified salesmen and not at all educated in the Real Estate business?

We (wife and I) toured a duplex that has been on the market for more than 30 days. The Listing Agent (not our agent) stated that they have one other offer but the seller is not satisfied with it so we made a full price offer. But now the Realtor is giving us a hard time because we are prequalified with a commercial loan to purchase. It seems that the Realtor does not understand why we are looking to purchase with a commercial loan since the property is not commercial and is afraid that the loan will not close because of it. Are Realtors REALY this ignorant? We have other properties (SFR) under this same financing. It seems like Realtors (in general) are not very educated. It is getting very frustrating to deal with them. I am not sure how to handle this if the offer is rejected due to a lack of knowledge on the Listing Agents part.

realestateinvesting

Edit: Can mods quit locking threads like this? What is the point? For fun, post this to the other real estate sub. Watch the agents crawl out of the gutters to justify their existence and why they need to keep MLS data locked down. The problem with agents is they take their little 50-hour class and walk out of it believing they are experts on marketing, negotiation, sales, the local area, construction, architecture, and every facet of the industry. Good agents are the ones who realize they dont know shit and actually put some effort into it. Truly the 1%

maml1p

White People struggle to understand how hard it is for Hood Black men to be financially mobile, and to navigate professionalism.

I don’t mean this in a condescending way. I don’t mean to start an argument, or be socially disruptive. I’m not here to ruffle feathers. I’m here to be truthful and literal. 1.) People give opportunities to who the relate to. White people see a hardworking White man who deserves a shot, and they’ll put him on. It might take 10 try’s but that White man will eventually be put on. Professional Black people never give shots to hardworking broke black people cause they think they’re better than them. Hence we are the only demographic that can’t get in through relatability. 2.) Being a “Hood dude” means your psychology is different. The hood isn’t a place. It’s a tool to disenfranchise. It’s a weapon used against people that an environment wishes to subjugate. This doesn’t mean you’re stupid, or not deserving. But it means you communicate differently emotionally and have different morals than most of the people you’re working for. 3.) White professionals tend to only see things through their experience. “Stop making excuses”. “Pull yourself up by your bootstraps”. “Life sucks get over it”. Not realizing that everything they’re commenting on or experience is magnified 10x for a Black man from the hood. 4.) Unless you grew up seeing your family killed, seeing your friends killed, not eating for days (or only eating chips and candy), seeing the women around you molested, having a decrepit visual of blight everywhere you go, and being indoctrinated to participate in the black market economy (crime) from a young age, and all with no Father around... You won’t understand. Bettering myself is so hard. So fucking hard man. I’m drowning. White keys to success aren’t working for me. I’m scattered and lost. And alone. Contemplated suicide last week for the first time. It is what it is. I’m about to be homeless very soon. I have enough money for a greyhound ticket. I just want to be seen as human.

povertyfinance

Let me know if you want to talk offline, man. I grew up without running water or an inside bathroom till I came to the U.S., and then 20 of us lived in a 4 bedroom house until my mom was able to find her own place for her and her 3 kids. I can’t imagine the psychological torment and physical wear and tear that comes with being in poverty as an adult, but as a Black person, it makes my heart hurt to hear this from you, man. I’m constantly mentoring Black men and women who want to become attorneys (what I am) and I’m Chairperson of my city’s black bar association’s young attorney group. Chat me if you need someone to talk to!

m5ibsv

Your Monday morning WOW: Rogers seeks to buy Shaw for $20.4-billion in deal that would transform Canadian telecom market

Rogers Communications Inc. plans to acquire Western Canadian rival Shaw Communications Inc. for $20.4-billion in a deal that unites two family dynasties in a nationwide battle for customers against BCE Inc. and Telus Corp. Shaw chief executive Brad Shaw decided his Calgary-based company could no longer go it alone in an increasingly competitive telecom market and needed to combine forces with Rogers on a planned $6.5-billion network expansion in Western Canada. “5G and our urban and rural networks are critical to our customers, and we can move more quickly together than either of us could on our own,” he said in an interview with The Globe and Mail. Toronto-based Rogers is offering $40.50 per share for Shaw, a 69-per-cent premium to where the Calgary-based company’s stock recently traded. Rogers received an irrevocable commitment to the bid from the Shaw family, which holds 79 per cent of the votes at a business founded by cable entrepreneur JR Shaw, Brad Shaw’s father. The takeover requires shareholder and regulatory approval and is expected to receive intense scrutiny from the federal government as it would eliminate Canada’s fourth-largest wireless player. Both the federal Liberals and Conservatives push the idea of multiple competitors as a way to bring down cellphone bills. In the past, analysts have said if Rogers and Shaw merged, they would need to sell a portion of the wireless business to win over regulators. Open this photo in gallery Brad Shaw, chief executive officer of Shaw Communications Inc. is photographed at the company headquarters in Calgary on Thursday, November 17 2016. CHRIS BOLIN PHOTOGRAPHY INC/THE GLOBE AND MAIL Rogers chief executive Joe Natale said in an interview the two companies plan to tell regulators and politicians that combining their operations will increase efficiency, lower prices and increase connectivity, “bridging the digital divide” between cities and underserved rural and Indigenous customers. “This combination is the right thing for Canada and consumers,” he said. Rogers and Shaw made a series of commitments to Western Canada in announcing the deal, including a promise to add 3,000 new jobs in Alberta, B.C., Saskatchewan and Manitoba, and to maintain a significant regional head office in Calgary. If successful, Rogers plans to spend $2.5-billion rolling out its 5G network in the four provinces, and set up a $1-billion fund to provide high speed internet to rural, remote and Indigenous communities. The company earmarked an additional $3-billion for upgrading networks in the West. The seeds for the takeover were sown last summer. Mr. Natale had dinner with Mr. Shaw in Calgary while he was in Alberta to review Rogers’ operations; the two have known each other for years. Over the course of the meal, the two CEOs talked in general terms about joining forces. Mr. Shaw followed up with a phone call to Mr. Natale early this year, and the two agreed on specifics during a recent meeting at a Calgary airport hangar, negotiating across what Shaw’s CEO described as “an appropriate social distance.” Open this photo in gallery Rogers Communications CEO Joe Natale speaks to shareholders during the Rogers annual general meeting in Toronto on Friday, April 20, 2018. NATHAN DENETTE/THE CANADIAN PRESS Bankers called the transaction “Project Scotch,” with Shaw codenamed “scotch” in all documents, to mask its identity, while Rogers was called “rum.” With Shaw’s debt included, the total value of the acquisition is $26.2-billion, among the largest takeovers ever staged by a Canadian company. The offer values the Shaw family’s stake at $2.3-billion, and they will take 60 per cent of the purchase in Rogers non-voting shares and $920-million in cash, making the clan the second largest shareholder, after the Rogers family. Rogers will fund the acquisition with cash on hand and by borrowing. Mr. Shaw will join the Rogers board after the deal closes, and the Shaw family will have the right to name a second Rogers director. Combining the two companies is expected to result in $1-billion of annual cost savings for Rogers. If regulators and shareholders sign off, the two companies said the deal is expected to close in the first half of 2022. Rogers is buying Shaw at a multiple of 10.7 times the company’s forecast earnings before interests, taxes, depreciation and amortization, or EBITDA. Both Rogers and Shaw were founded in the 1960s and built their businesses by acquiring a series of family-owned cable companies. Both saw their founders pass away relatively recently: Ted Rogers died in 2008 and JR Shaw passed away last March at age 85. The two CEOs said their common experience, and years of rivalry that included numerous practical jokes, paved the way for a friendly takeover. Open this photo in gallery The Rogers logo is photographed in Toronto on Monday, September 30, 2019. TIJANA MARTIN/THE CANADIAN PRESS Mr. Shaw, who took the reins in 2010, said he had numerous conversations about the future of the company with his late father and his late brother, former CEO Jim Shaw, who died in 2018 at the age of 60. “We constantly discussed where the company is going,” Mr. Shaw said. “Some of those conversations were easier than others.” In the Shaw offices, difficult conversations were held ahead of Mr. Shaw’s decision to sell the company’s media assets, which included the Global Television Network, to Corus Entertainment in 2016 for $2.65-billion, and his move to sell its data-centre business in 2017 for $2.3-billion. In hindsight, both moves paid off. Shaw used the money it raised to buy and build out its Freedom Mobile Inc. and Shaw Mobile cellphone businesses that are now its fastest growing platforms and attractive assets for Rogers. Mr. Shaw said his father understood the logic of potentially selling the company. He said the family wants its legacy to be as builders of the leading Canadian telecom platform, and combining forces with Rogers is the best way to achieve that goal. On the other side of the table, Rogers has always coveted a national platform to better compete with BCE. Mr. Natale said that at a Rogers board meeting last week to approve the transaction, long-time director and former chair Alan Horn said, “Somewhere, Ted is smiling, and saying ‘Now, will you just get on with it?’” Last year, Rogers and U.S. telecom company Altice USA Inc. made an unsuccessful $10.3-billion bid for Quebec-based rival Cogeco Inc. Rogers continues to be the largest single shareholder in Cogeco and subsidiary Cogeco Communications Inc. Mr. Natale said the company’s friendly offer for Shaw has no bearing on its Cogeco investments. Shaw got its start in the cable industry in Edmonton, and only got into the wireless business in 2016 when it purchased Toronto startup carrier Wind Mobile Corp., now called Freedom Mobile, for $1.6-billion. Since then, Shaw has invested billions in building out its wireless network. Last summer, the company launched a new Shaw Mobile service, available as part of a bundle to its internet customers in Western Canada. The aim was to win back internet subscribers in Alberta and British Columbia from Vancouver-based rival Telus, which has been eating away at Shaw’s market share. In negotiating the deal, Rogers hired BofA Securities and Barclays as its financial advisers and Goodmans LLP as law firm. TD Securities and law firm Davies Ward Phillips & Vineberg LLP advised Shaw. Shaw also struck a special committee of its board, which was advised by CIBC World Markets and law firm Burney Duckworth & Palmer LLP. The Shaw family’s trust used Dentons Canada LLP as their lawyers, while Torys LLP advised the Rogers family trust. https://www.theglobeandmail.com/business/article-rogers-seeks-to-buy-shaw-for-204-billion-in-deal-that-would-transform/

CanadianInvestor

"Increasingly competitive telecommunications market"?!?! Aren't most of the new, small companies just off-shoots of the big guys? How would this merger do anything but ensure decades more of the current monopolistic landscape of Canadian telecoms?

nawxpo

$HAPPY Is primed to shoot past a $100M market cap. Donated another $50k this friday to the biggest organisation yet, happy is at the forefront of a new era of charity.

I already know what you’re thinking. You’ve seen the HappyCoin posts here, and thought you missed your entry point after it shot up from an $11mil market cap to a $80mil one in 24 hours. But what if I told you this is just the beginning to what will become one of the largest charity tokens in the BSC space? I bet you wanted to get in on Elongate or something similar before it pumped up to a 9 figure market cap, well now you have your chance with HappyCoin. Over the next month, HappyCoin will be receiving a massive marketing push, much larger than anything done so far. With what the marketing team has done so far, HappyCoin touched a $100 Million market cap within 3 weeks, now imagine how it’ll be one month from now with what I’m about to tell you. The founder is about to be in LA this Sunday, meeting up with some massive influencers like Jesse Wellens and Casey Neistat to promote HappyCoin, and if you already recognize those names, do I really need to stress how good they are at what they do. Because HappyCoin has such a positive use case, it has been a lot easier to bring on big names given the power of what this token can do for those in need. Along with this, HappyCoin is being listed on a number of different exchanges as awareness about the coin continues to spread. HappyCoin has been listed on the LARGEST exchange in Europe, WhiteBIT, with marketing through all the channels WhiteBIT offers coming very soon. They’ve said that they are coming out on two more exchanges this month, rumoured to be Bilaxy AND BitMart, both with massive reach. As for what HappyCoin has done so far, they have donated $90,000 in their first THREE WEEKS with another $50,000 being donated to the American Foundation of Sucide Prevention (massive organization) this Friday. They livestream every donation they make and do a short AMA with the organization after, you can watch them on Twitch! HappyCoin isn’t aiming to be just any other charity token, they want it to be the prime example of what good crypto can do for the world, and with an AMA set for tomorrow and and a huge push set for next week, I invite you to check out what Happy, and come join the $HAPPY team before it takes off once more. Website: https://www.thehappycoin.co/ Can be bought using pancakeswap.

CryptoMoonShots

I'm definitely having fun with this one, recommend 100% to anybody that is learning about tokens like me. Reminds me of the early Dogecoin days but with charity baked in. Love the name and the brand, can't help but be happy about it.

9p87xw

INTRODUCTION TO TRAVELER

Traveler is owned by TripX, USA, Inc. a Florida Corporation and will be the first crypto based platform which will accept crypto tokens for hotel bookings, flight booking as well as vacation reservation. Doing a research, I discovered that the several online travel companies or booking agencies that exist have not been able to serve crypto users or blockchain enthusiast probably because the crypto industry is yet to go mainstream. Looking at this disadvantage to the traveling sector, traveler.com has come up with the blockchain based tech to satisfy its users with unlimited joy while making plans to travel by providing its services that will accept crypto currency as booking or reservation fee even at a discount rate and having the data stored in the blockchain.

crypto_currency

The payment gateway designed for the TVLR project represents a means of payment based on using TVLR tokens to cover part of the travel costs. It is designed using a microservices architecture based on APIs which communicate with the blockchain

9p87xw

INTRODUCTION TO TRAVELER

Traveler is owned by TripX, USA, Inc. a Florida Corporation and will be the first crypto based platform which will accept crypto tokens for hotel bookings, flight booking as well as vacation reservation. Doing a research, I discovered that the several online travel companies or booking agencies that exist have not been able to serve crypto users or blockchain enthusiast probably because the crypto industry is yet to go mainstream. Looking at this disadvantage to the traveling sector, traveler.com has come up with the blockchain based tech to satisfy its users with unlimited joy while making plans to travel by providing its services that will accept crypto currency as booking or reservation fee even at a discount rate and having the data stored in the blockchain.

crypto_currency

Traveler is a decentralized platform that is based on Ethereum blockchain technology. Traveler is owned by TripX a USA company incorporated in Florida, USA. Traveler.com is a crypto-friendly discount travel aggregation platform offering lower prices on travel products and services to consumers and its subscribers than the traditional travels outlets, through an internal real-time cryptocurrency to fiat exchange and use of the native Traveler utility token of the Travelers platform (TVLR).

vm3fuq

I said Robinhood was going to be bought out 10 days ago. this sub thought I was a idiot. ‎‎‎‎‎‎‎‎‎‎‎‎‎‎‎‎‎‎‎‎‎‎‎

https://www.bloomberg.com/news/articles/2022-06-27/sam-bankman-fried-s-ftx-seeking-to-buy-robinhood-hood?srnd=premium https://www.reddit.com/r/ValueInvesting/comments/ve0jaz/robinhood_is_trading_significantly_under_book/ This just goes to show how even some of the most respected members on this sub are sometimes blinded by their opinions. Most people on reddit hate robinhood. So they completely dismissed the notion it was worth anything, even when it was trading under book value and had 23M funded accounts.

ValueInvesting

I love these biased headlines. No confirmation from company, anonymous source, and stock jumps 15%. Here are some facts: Company issuing millions of shares (2B), in a declining market(brokerage revenue declined to 218m last quarter) and collapsing “coin” market - can’t wait to see earnings next month. Edit: after-hours "Bankman-Fried denies rumors" https://ca.finance.yahoo.com/video/bankman-fried-denies-rumors-ftx-210234792.html

loff5s

Congrats but not congrats. I followed fatFIRE to learn... not to read your humble brags.

People, when you post your success, please throw some bones in here for the rest of us. Too often I read people creating "throw away" accounts to humble brag their success and retire early, etc. PLEASE remember there is a super majority of us here who are still grinding the day to day - making ends meet. When you post your wins, congrats, but post some details on how you got there. Why did you choose your method vs others. I wanna read your thought logic, not just how much NW you have and what you started with. Help us connect the dots. Lift others up, not bring other down. This is not Instagram. Edit: "making ends meet" meaning trying to hit my investments, earnings and savings targets (not always easy). Some folks are saying I don't belong here, so I want to clarify that I'm currently on the FatFIRE track, but would like to learn more from others - especially those who made it.

fatFIRE

The purpose of this sub is for fatFIRE folk to share their experiences, not to educate aspirational lurkers. I think it's great when the posts provide insight, but I don't think it's fair to require that.

riwc5e

Those of you retards like me invested heavily in Lithium, Uranium etc what are your thoughts on the election next year?

I've always voted Liberal purely because I've never cared and it's what my parents told me to do but now that I'm older and have a lot of my money invested in rare earth's, lithium and uranium I'm starting to wonder who I should be voting for that would benefit those companies the most. From what I've read/researched there still seems to be pretty much zero chance for Nuclear to take off in Aus sadly, and it appears as though the push will be for wind, solar and battery. Imo Scomo is a complete durp and I really am against voting for him but will Labour be any better? Will there be any chance for Nuclear to make a start in Aus and if so what party would be the likeliest to promote it?

ASX_Bets

I don't think either partycan stand in the way of the decarbonisation juggernaut. Both parties have corrupt politicians who are equally likely to cheat, embezzle and profit at our expense. I see voting for Labor as an opportunity to shake up some of the entrenched corruption. I also view Labor as more likely to pursue policies that benefit the poorest in our nation. Being wealthy to me will feel nicer if the poorest have some comfort and security. My 2 Cents

ful324

US airlines would not need the bailout if they didn't spend their recent enormous profits buying back stock. They could've set up emergency funds. They didn't. The money spent for the stock are gone. Now they are bailed out with taxpayers' money. Mismanagement squared times recklessness = our loss.

US airlines would not need the bailout if they didn't spend their recent enormous profits buying back stock. They could've set up emergency funds. They didn't. The money spent for the stock are gone. Now they are bailed out with taxpayers' money. Mismanagement squared times recklessness = our loss "American airlines has spent $12.9 billion over the last six years on its own stock. People are mad because $12.6 billion is what it cost to pay the employees' salaries for an entire year " [https://www.businessinsider.com/airline-stock-buybacks-versus-employee-compensation-2020-4](https://www.businessinsider.com/airline-stock-buybacks-versus-employee-compensation-2020-4)

StockMarket

Hindsight is always 20/20. Nobody envisioned the entire travel sector coming to an indefinite halt. The share buybacks were supported by most investors at the time. Now anyone who was against the buybacks looks like a genius. Likewise, had the market continued up past Dow 30,000, executives would have been criticized for keeping so much cash.

95kpy3

Ink Protocol Partners with Monarch Token to Power XNK Storage and Payments

Here is a great video interview with Monarch about the partnership and the future of Ink Protocol + decentralized marketplaces : https://youtu.be/DygbeV9OPiQ Learn more: https://paywithink.com/

crypto_currency

Monarch platform will charge a 2% transaction fee on all consumer-to-merchant transactions in the Monarch network. Transaction fees in the Monarch system will be carefully allocated to allow Monarch to function as a company even after Token Generation funds are exhausted.

m9w38j

If you knew that we'll enter a recession and hit bottom next Monday, and you had $100,000 cash available, what would you invest in and why?

Investing $100,000 into the S&P 500 during the absolute bottom of the financial crisis of 2008/2009 would yield close to $600,000 today. $100,000 in Apple would yield well over $1,000,000. What would you buy next Monday (29th) if you could tell the future and we hit bottom precisely on Monday?

stocks

I would bribe someone at the NY Fed to give me a few hundred million in bailout money loaned at 0.01% interest and then I would buy all your homes and rent them back to you like Blackstone Group did during the last recession

r8tyri

(CODENAME: S.O.C.K.) Mod Team was approached by several news agencies. We don’t feel comfortable speaking on your behalf. So we have a mission for you, should you choose to accept it… ***cue Mission Impossible music***

Alright good afternoon my wrinkle wizards and smoothbrain boners, we’ve got a situation on our hands and things are looking…spicy. [HODL ON!!!! \(don’t try this at home\)](https://i.redd.it/6dl9q3os3k381.gif) So over the past couple months, we’ve had the Mainstream Media (MSM) reach out to the Mod Team for interviews. We told them all no, we can’t do interviews. For transparency purposes, these news agencies are Reuters, Market Watch, Wall Street Journal, & CBC (Canadian Broadcast Company). Hell, we even had a possible connection to a US Senator lol. We haven’t done anything with them other than some initial back and forth to find out what they want. It’s not our place to speak on behalf of the Apes. We do not represent Apes, we do not speak for Apes, and we sure as hell aren’t gonna try. Recently, we’ve had an uptick in outside agencies reaching out and if we’re honest, we think SuperStonk and the Apes are gonna be dealing with a lot more of the press/politicians as we get closer to MOASS. As such, the Mods have felt we need to collaborate with you guys on a game plan for dealing with these agencies, together as a community, because it’s gonna be a bumpy ride. [\(for real, don’t try this at home\)](https://i.redd.it/mvexvi9u3k381.gif) So here’s what we know: We received modmail with requests for interviews, we asked about what, some have responded, some have not, and here we are. One of them had a focus on why we were so adamant about Computershare and what changes we’ve noticed since moving our shares into our names. We expect that soon, others will reach out and want us to say something. Especially when we start seeing the stock price add some commas 😉. Until the subreddit figures out how to proceed, we’re gonna leave them on “Read.” How do you guys think we should proceed with the news? Should we engage? If so, how? Do you want to directly talk to them? Or should we tell them to fuck off? We want to hear your thoughts and ideas. The Mods do have an option to manually approve reporters if you wish to invite them to the subreddit to ask their questions. It’s a lot of ground we need to cover. And because of how open ended this situation is, the Mods would like to pitch an idea to you. [\(this can be tried at home\)](https://preview.redd.it/x2xfnf8v3k381.jpg?width=1908&format=pjpg&auto=webp&s=0eef10eaf8d09cc19d9488f625b7f5867435f091) …is band together and use the combined skills of the community to develop and create the first Superstonk Official Communications Kit (S.O.C.K.) to give to reporters when they come knocking. [CODE NAME: S.O.C.K.](https://preview.redd.it/qnno9yzv3k381.png?width=504&format=png&auto=webp&s=94681587b08248abc9f427cae7769413ab5a99b3) [\(definitely don’t try this at home\)](https://preview.redd.it/nr368rkw3k381.jpg?width=432&format=pjpg&auto=webp&s=b5a79f3ca1844f2ab911c94d87d4375242fa87e4) [\(you’ve already tried this at home\)](https://preview.redd.it/yxrzwv0x3k381.jpg?width=480&format=pjpg&auto=webp&s=5dbbe80c241e4005bf1685271235729e0791ea6f) The SOCK would ideally have some basic stuff that says who we are and what we’re about. What do we like? What do we not like? Something to give the MSM a clear picture of what it means to be an Ape of Superstonk. It would need to be a polished document that is fact checked and peer reviewed and yes, it needs to look “presentable” to the outside world. Or you can just say fuck that idea lmao. It totally doesn’t matter. The Mods are putting the power of our representation to the world in your diamond hands. However you guys want to decide this, whether it be a committee, or an election, or whatever, you guys just come up with the idea and the Mods will watch and support you beautiful Apes along the way (we will still moderate the subreddit lmayo you can’t break rules for this). I’m a firm believer that when enough critical thinkers get together, then any problem can be solved and we just so happen to have an entire network of people asking the right questions. We don’t speak on your behalf, so we present you with this mission, and *should you choose to accept it*, we will let you go and do your thing. We want this to be a community driven effort. By the Apes, For the Apes. Some pointers up front: you guys are gonna figure out how tricky it is to maneuver this size of a group. Sometimes it’ll be a delicate dance with a rope and floor and gravity. [\(I'd be impressed if you could try this at home, but don't try this at home\)](https://i.redd.it/2u15f92y3k381.gif) You’ll need to use your wrinkles and your wits. And don’t go full smoothbrain 😂 \- - OH WAIT IT’S PROBABLY MORE LIKE THIS - - [\(SAFELY try this at home and make a Superstonk meme lol\)](https://i.redd.it/3uolo1jy3k381.gif) So now you guys know basically what we know and I’m fascinated to see how you’re going to react. From here, the Mods will liaison and support where necessary. Ball’s in your court. Godspeed, Ape. THIS MESSAGE WILL SELF DESTRUCT IN 5…4…3…2…1… [\(can you even try this at home? lol please don’t try\)](https://i.redd.it/gjcihmez3k381.gif) lol jk there’s no destruction # XOXO the Superstonk Mods 🦍💎✋🚀🌕🐳🚽🦙🐸🍦 ​ # TA;DR: The mod team is seeing an uptick in inquiries from MSM outlets requesting interviews and questions. The mod team does not speak for you. So, this is your chance. Do you want us to tell them to fuck off? Or do you want to talk to them? Or maybe, as a community, you could put together the S.O.C.K. (Superstonk Official Communications Kit) to give to reporters? You decide! Time to speak up!

Superstonk

No comment is the way to go IMO. There is no guarantee they won’t manipulate any and everything you say. RC isn’t out there giving interviews. If people are interested to learn more, they will be able to do that by coming to superstonk for themselves. PS Thabk You mods! Y’all are the best Buy HODL DRS Shop Gamestop this is the way 🚀 🚀

w6x2st

are billionares bad for capitalism?

Since billionares have so much money that is not being used to move the economy sunce its not being used at all, isn't this bad for the economy in a capitalist country?

AskEconomics

Your question assumes that billionaires’ wealth is mostly made up of cash. But it’s the opposite actually, they typically owns assets that are worth billions in the open market today. In essence what that means is they bought/invested in those assets with some cash at some point. And the recipients of that cash (typically some company), deployed that cash in a value creating manner for the public i.e. they provided goods and services that generate profits. The goods and services generate profits because the customers value them and are willing to spend money on it. In addition they generate profits because the company created the goods and services efficiently, in other words it costs them less to create than what customers are willing to pay. So billionaires cash is actually being put to work in the market, and this is actually the essence of capitalism. Letting people choose where they want to spend their money, and in return giving them ownership of what they buy. In fact, this works the same whether you’re a billionaire or not. For most people with any retirement account, they don’t actually have much cash. They’ve given their cash to someone else (usually another investor) who uses that cash however they want. This is all overly simplified but it’s meant to address your assumption and explain how the money is being used.

mvh3qt

Do USA really borrow money from countries like India? If so, why?

Hi, I am from India. I am totally new in Economics (have just started studying high school Economics). Recently I came across an article from Economic Times that says America owes India more than a hundred billion dollars. Source: [https://economictimes.indiatimes.com/news/economy/indicators/us-owes-india-usd-216-billion-as-american-debt-soars-to-usd-29-trillion-lawmaker/articleshow/81240956.cms?from=mdr](https://economictimes.indiatimes.com/news/economy/indicators/us-owes-india-usd-216-billion-as-american-debt-soars-to-usd-29-trillion-lawmaker/articleshow/81240956.cms?from=mdr) This is a huge surprise to me as all my life I have heard that my country is economically poorer and weak and it survives only by borrowing money from western countries. Why would a superpower and rich country like USA need to borrow anything from a much poorer country like India? How does this work? Why is USA borrowing that money and what for?

AskEconomics

Nations borrow by issuing bonds. They sells bonds at auctions. The bond then pays a payment over some number of years, that's called the coupon. At the end the principle is paid back. So, you could buy a bond with a face value of $100. It might pay, say, $2 every year. Then after 10 years, for example, the government will pay the entire $100 back. This bond is auction off to the highest bidder and then can be traded on the bond market. As a result, all sorts of people and organizations own bonds. Nearly anyone who wants to can buy bonds. Though some countries have laws limiting buying bonds from other countries they consider hostile. Many governments buy the bonds of other governments. That is all about controlling forex rates. Government like to have the ability to prevent steep declines in forex rates. To prevent that they intervene in the forex market and buy their own currency paying with another currency. Very often that other currency is the US dollar. Rather than holding dollars countries often hold bonds which can easily be sold in exchange for dollars. Imagine that there's an emergency of some sort in India and the value of the rupee falls. The government needs to import some goods to deal with the emergency. They hold US bonds which they can sell for dollars then they can buy the goods for import with those dollars.

ve3ak7

Can we stop posting Fox afilliated sources?

This is not a call against conservative views. This is a request based solely on the fact that Fox News is deemed an "entertainment" media service and not a valid "news" media service. This was a decision made by SCOTUS. Thus, citing Fox affiliated channels and posting material from them to a professionally minded subreddit is at best SPAM and at worst misinformation. Anyone out there agree with me?

economy

I hate Fox News as much as every Real American does, but this is just plain misleading. When you say 'decision made by SCOTUS', are you referring to [McDougal v. Fox](https://law.justia.com/cases/federal/district-courts/new-york/nysdce/1:2019cv11161/527808/39/), which was a case specifically concerning statements made by a single person on a single show - Tucker Carlson - that made its way up to the Southern District of NY (not the Supreme Court), which concluded that ["no reasonable person would interpret his statements as facts"](https://factcheck.thedispatch.com/p/fact-checking-a-claim-that-fox-news). (If there is a different case you are thinking of, let me know.) Note that the decision in in reference to a single slimy hot-air idiot (Carlson) on a single program, not the entire network overall. It would be the same as tarring the entire NBC organization for something that Maddow said. The 'meme' that Fox News has been classified as entertainment or that it is not an accredited news organization has been making the rounds for years. And for as long as its been going around, it has been discredited. - Snopes: https://www.snopes.com/fact-check/fox-news-entertainment-switch/ - Rating: False - Politifact: https://www.politifact.com/factchecks/2020/jan/16/facebook-posts/post-fox-news-changing-entertainment-spun-old-sati/ Rating: Pants On Fire Again, Fox is a shitty source of information, but if we are going to tear them apart for all their lies and misinformation, do it based on facts rather than rumors and fake memes.

sngv5f

How the Italian pension system has become a Ponzi scheme

This is like an OT, but interesting to know in my opinion. ​ In the Italian pension system, pensions are paid thanks to those who work today and pay contributions. Whoever pays contributions today gets the future right to get a pension in turn. But if there aren't enough workers in the future, there won't be enough money to pay off these 'debts'. This creates a financial imbalance. At present, the incomes are lower than the outgoings and a hole is created that must be filled by the state. Thus we speak of a **social security deficit**. The only way to repair the deficit would be to raise the retirement age (already very high on average), raise taxes and (sadly) hope that retired people live shortly. ​ Why this is a Ponzi scheme? * absence of product and promise of earnings (INPS promises us the pension but does not guarantee it) * new ones paying old * only one promoter or company * unclear information ​ Certainly at the moment the INPS for structure, for functioning cannot last over time. The working age population continues to decline and soon there will be not enough people to pay pensions. Even more so that the growing aging of the population, combined with the low birth rate, makes the entire Ponzi-Inps system unsustainable. To date, the only possible solution appears to be the need to completely restructure the entire pension system.

eupersonalfinance

Well all old countries. Issue is retired are the biggest voter base and historically the most active. Thus any action to balance the generation gap is politically a suicide. When a minister tried to reform the pension system she ended up crying on national television due to harassment. Add to this that generally is not considered constitutional to change maturated benefits.

lxb8nh

Invisible Hand?

Hello! A few years back, my Economics professor made a statement that has stuck out to me for a while. He said something along the lines of "I don't worry about environmental issues/tree shortages because the free market will adjust prices and price it out of consumption." In other words, when the environment is in trouble, you will see prices adjust, such as the price of paper increasing. However, that has always struck me as odd. It seems to me that (1) the market is profit driven not environmentally driven, so prices will not react to environmental needs and (2) that the market is more reactive than proactive. Meaning that once we see the market hypothetically adjusts to environmental issues, it will be too late. So, my question sums up to this: how does the "invisible hand" work and can the free market/invisible hand fix issues such as environmental issues with price adjustments as my professor described? Hope this makes sense! EDIT: Wow, thank you everyone for your thoughtful responses - I really didn't expect it! This has been some really fun reading and I've learned a lot. I did neglect to say this in the original post, but my professor did not make this argument in class as a simplified example. He noted it as an off the cuff (but somewhat passionate) response to a student asking why he used so much paper - which is why it has stuck with me for so long! Anyway, thanks for all the responses!

AskEconomics

You are correct. What your professor seem to not realize is that some markets have market failures. With enviromental issues, the most clear one are externalities. Some reasurces are hard to incorporate into the game because of their nature. That is why we created some measures to be able to incorportate those costs into the market and then let the market do its job, like carbon trading markets and fisher permits, for example. I recomend you to check "externalities" and "tragedy of the commons" to get clear examples. It is a bit strange from an economics professor given that this is basic micro, and there are fields totally dedicated to these issues like enviromental economics.

a56koh

Mom nearing 60 has no savings. Where to start?

I'm starting to research how to help my mother, as it is clear she will have nothing when she is at an age that she can no longer work or care for herself. I want to have a conversation with her soon. She is nearing 60 years of age. She and my father are not divorced, but have not had contact in over 10 years (I believe they are separated). She lives with her boyfriend of over 10 years. Her boyfriend owns the home and they do not share accounts; each pays half of everything. She has no savings, and is always paying back people, bills, etc (she lives paycheck to paycheck). She does not have life insurance and as far as I know she has no will. I have started to realize this is going to be my burden. I'm looking for ideas on where to start and what I should do legally (for example if I paid for a life insurance policy, how to ensure I'm the beneficiary). What are the implications of she and my father not being divorced? I welcome any advice or links to articles, perhaps even information I can show her to help reality set in. Edit: Thank you for all of the responses. I didn't expect so many! I will read through the rest after work and make my notes. We are in the northeastern US.

personalfinance

I am going to paste something I posted in another thread a while back for another person asking for advice. You are not to this point yet, but it is coming and maybe this will give you some pointers based on my personal situation. Below is my current situation.... ​ ​ I had a similar situation with my father. He came to me one day and told me he had been getting money from people at his church to avoid being homeless, but they weren't giving him any more because he wasn't taking any steps to rectify his issues. He needed to borrow some money to pay his rent and I didnt want to give him money because I knew he would need it every month. His only retirement income is social security. Below is how I tackled the problem... I told him I would help him, but only if he tuned his finances over to me 100%. He gets about 1300 per month social security. He had no choice but to agree. He had several payday type loans, credit card debt and had gotten a new loan against his paid off car. He basically used every form of credit he had access to and maxed everything out. 1. I opened a checking account in my name only at his bank 2. I opened a savings account in both of our names at his bank 3. We called the social security office and changed his check to be deposited into the savings account (he cant write checks against a savings account) 4. When his check is deposited I transfer it to my checking account 5. I transfer 60 bucks every Monday into the savings account for him to withdraw. This is for food, fuel and every expense he has 6. I pay all of his bills from my checking account ( which only has his money in it) 7. I called the payday loan places and told them I hired an attorney ( I didn't), called the better business bureau and the consumer protection agency. I told them the lawyer I hired actually offered to handle this for free because his father went through the same thing and he was eager to make them pay again. All of them dropped all of his debt and wiped the slate clean. Bluff worked. In my state it is illegal for them to take post dated checks and they still do it because nobody knows any better. I had the law on my side so that helped with the bluff. The loan companies knew they would not stand a chance in court. 8. I met with the bank manager and explained what I was doing so that she could help me watch his accounts and understand the weird movement of money. 9. I closed his checking account so that no more checks could bounce against it 10. He moved into a controlled rent home where his rent is determined by his income 11. He lived on 40 bucks a week until I got his payments under control. Now he gets 60 and he has 5 grand saved up that he doesn't know about. When he has an emergency, like dental needs or doctor or new tires, I use the money from his account. He thinks I pay for it out of my pocket. On this system he saves around 100 bucks per month but thinks he breaks even. I can't tell him he has a nest egg because he absolutely sucks with money and is like a child with it. He would find a reason to need it within days and would blow it at the bar where he drinks with his VA friends. I told him if I caught him hiding money from me, or lying to me to get money, or being deceiving in any way I would close the checking account, take my name off the saving account and would not help him anymore. He is an adult and is responsible for himself. I never had much of a relationship with him but feel that being the first born son is a big deal. I feel, as the first born son, I am responsible and my duties are not noble or charitable but a requirement for a family unit to maintain its integrity. I hope this is helpful for you, but either way I wish you luck and even though I don't know your name you will be in my prayers. Life is hard, but it is even harder when your parents can't hold up their end of the deal. Whatever you do, do not strip them of their dignity, do not publicly shame them or give them reason to feel ashamed. They made a life error that they won't recover from, but they were blessed enough to have children that love them. They are fortunate. What you are going through now and how you are handling it will be one of the reasons you will be able to lay your head on your pillow at night and sleep soundly later in life. We do what is right not because it is easy, but because we go through enough shit in life to not have to be haunted by the wrongs of our youth.

98nmft

CyClean Wearable Band

What if one can mine with one’s own body? With CyClean, it becomes possible. The more you exercise, the more CyClean coins are mined. Of course, the mining weight is smallest for wearable bands but user do not need to do nothing other than passionately exercise with wearable band to mine CyClean coins. Get healthy and get rewarded for it! Like indoors bikes, we believe there will be no boundaries for age or gender or social background for working out with bare body. The wearable band will have a very affordable price line as well. \*Because we are not limited to specific model, thus please be noted that in the future, the specific model or design could change due to business reasons or for market reasons.

crypto_currency

Cyclean mainly focused on problems of exhaust fumes and energy production which are two major problems of environmental issues and additionally, company are promoting green sports as a minor subject of our CyClean Platform.

98nmft

CyClean Wearable Band

What if one can mine with one’s own body? With CyClean, it becomes possible. The more you exercise, the more CyClean coins are mined. Of course, the mining weight is smallest for wearable bands but user do not need to do nothing other than passionately exercise with wearable band to mine CyClean coins. Get healthy and get rewarded for it! Like indoors bikes, we believe there will be no boundaries for age or gender or social background for working out with bare body. The wearable band will have a very affordable price line as well. \*Because we are not limited to specific model, thus please be noted that in the future, the specific model or design could change due to business reasons or for market reasons.

crypto_currency

**CyClean** basically promotes clean energy using a rental system of electric bikes and other vehicles. It encourages people to use electric vehicles for helping the enviroment and reducing carbon footprint.

98nmft

CyClean Wearable Band

What if one can mine with one’s own body? With CyClean, it becomes possible. The more you exercise, the more CyClean coins are mined. Of course, the mining weight is smallest for wearable bands but user do not need to do nothing other than passionately exercise with wearable band to mine CyClean coins. Get healthy and get rewarded for it! Like indoors bikes, we believe there will be no boundaries for age or gender or social background for working out with bare body. The wearable band will have a very affordable price line as well. \*Because we are not limited to specific model, thus please be noted that in the future, the specific model or design could change due to business reasons or for market reasons.

crypto_currency

CyClean vehicle. (NFC communication OR GPS based auto-matching with QR code registration). The smart contract goes through the CyClean vehicle and rental service is completed through that procedure, connecting user’s CyClean account and wallet with such rental service and rental prod- uct. Users can see the contract status at the rental page and mobile app.

l216iu

Rant mode: I cannot believe the number of podcasts about real estate investing. It makes it feel super bubbly. And frankly, I'm kind of embarrassed to label myself a real estate investor despite 20+ years in the game because it feels so cheesy.

Basically the title. I mostly listen to politics and money podcasts. I do listen to bigger pockets occasionally (or I used to back when it was a little less self sucky sucky) but I don't really browse that often. I clicked through suggested and I am blown away at what felt like 50 real estate podcasts. I mean.....It isn't that complex to justify 1000 hours of content a week. Lots of the podcasts kind of feel like the podcast is the business rather than the real estate. I know so many people interested in buying rentals, flipping etc. It is almost like bitcoin where they are hopping in just so they don't miss out. I like real estate. I think it is a good path to wealth creation. But it is mostly boring. Dealing with tenant squabbles, deciding what grade of LVP is best, trying to find matching trim is like 80% of the game over the long run. Do you have any idea how long I've spent trying to locate the right color grey to re-paint a unit? That doesn't need a 90 minute podcast. Finding deals is sort of exciting for spreadsheet nerds. But contracts, financing, refinancing....boring. Buy a property that cash flows, wait like 30 years while making $150 a month and maybe refinance occasionally to take a bigger chunk out. ​ And if you haven't been in the market through at least one downturn- I don't need your advice. Your experience isn't valuable enough to broadcast. I realize you made 28% appreciation in 2019 and your cash on cash was 456%. But until you have watched it all go negative and had 5 years of gains get wiped out in an instant....don't tell me how much leverage I should have. ​ Oh you have 4 units so you think you can start a class about how to become more like you? piss off. You successfully flipped a house in a market that goes up 2% a month? you could probably have literally done nothing other than hold for a few magic months and made money too. You didn't discover the secret RE rosetta stone. You bought into a hugely rising market where everyone feels like a genius. You made a 10K assignment fee off of an old lady you charmed? super sustainable business model Mr Buffett. You should start a TV show too. ​ I don't know what my point is. I just hate that what was a very legitimate business is so snake infested now. I don't call myself a real estate investor now. I just tell people I'm a landlord- which makes them not want to talk about it further. ​ Rant off.

realestateinvesting

>You successfully flipped a house in a market that goes up 2% a month? you could probably have literally done nothing other than hold for a few magic months and made money too. So, you're saying that if I bought Tesla earlier last year it's possible I'm not the next Benjamin Graham and I shouldn't be shooting for that Goldman Sachs CEO gig?

ryfgmr

If I was Ryan Cohen I would be so pissed right now.

After watching the Michael Patcher interview and hearing the bullshit he was spitting I’m sure he’s beyond taking this shit personal. I’ve been trading stocks for 20 years and I have never heard so much BS about one tiny company in my life. But Al Qaeda really? I mean that’s some low blow shit right there. Ryan take your time and as an investor in GME I believe you are the change that I invested in. I hope you change the game and I hope you change the way these elite assholes rob from the working class everyday.

Superstonk

Honestly I think a lot of terrorist organizations might peruse GME’s marketplace. First few that come to mind are Goldman, JPMorgan, Credit Suisse, Point72, Citadel, Deutsche Bank, the Melvin interns still chained up in the basement eating doughnuts off a mold of Gabe Plotkin’s 2 inch chess piece. The dude clearly doesn’t seem to get it Edit: Thank you so much for the awards! Keep holding (or hodling) you beautiful diamond-handed bastards ❤️

odicmk

Where are all the non-rich people?

I read a lot of posts asking about surviving or at least building a financially smart life on a 'meagre' 60k wage. I earn about 30k as a social worker and do alright. I mean I have to manage spending of course, but I'm not in trouble or anything, and seem to be able to use advice here as well. But I'm just wondering: is this mainly a sub for the more wealthy?

eupersonalfinance

36k earner here from Austria! That translates to 1.8k netto monthly. It has been my salary for about 2 years now. Previously my salary was 26k/1.4k netto (PhD student) for about 3 years after which I was unemployed for 1½ years. My salary during that time was about 20k/1.1k netto. All of these numbers are [below the median Austrian household income](http://www.statistik.at/web_en/statistics/PeopleSociety/social_statistics/household_income/index.html#:~:text=According%20to%20the%202020%20EU,per%20annum%20at%20their%20disposal.). Most people tend to invest with whatever "left over" income they have at the end of the month. For me, it has always been the opposite - I'd always take out a fixed sum (even when I was unemployed) and lock it away. Then I'd figure out how to make do with what was left over. Despite the fact that I am making more than I used to, this habit has stuck. In my head, my salary is still just 1.4k. If I could make do on that salary for 3 years, I can jolly well do it now. As soon as the paycheck comes in, I lock 300 to 500 away and then figure out how to deal with the rest. This sub has definitely been helpful for me and a few friends of mine. We are all in the 20k to 40k range. Based on what we've learned here, we've all started off a Sparplan and are putting away anywhere between €50 and €300 a month on the regular. It ain't much, but it's honest investing! We all have anywhere between 1k and 4k as emergency funds and whenever we have spare cash, we stash it away and have anywhere between €100 and 5k saved over the span of a few months to a few years that we use for buying big dips whenever they happen. It's likely a good idea to invest this sum instead of trying to time the market, but we prefer doing it this way because transaction fees are ridiculous unless you go via a Sparplan.

g5hsiw

Why is The Fed printing $2T not risking hyperinflation (while other countries in the past printing money had resulted in that)

I read this NPR article about how The Fed printing money is not likely to cause hyperinflation as the money is unlikely to flood the market and drive up prices of commodities. In the case of say Zimbabwe or Venezuela, why does hyperinflation happen? Is it a matter of scale of printing?

AskEconomics

In the case of what the fed does right now, they are providing relief for a lack of liquidity through collateralised short term loans. Once those loans are paid back, the money is destroyed again. It's also not really money that enters the "general economy" but just to fulfill outstanding debt obligations between companies and banks. What countries like Venezuela did is different. They fund their governments through money creation, so the government can buy goods and services. That is money that does enter the economy, leading to inflation.

a4ld6g

Sovren Passing the torch

The key takeaway for current and future issuers is to differentiate themselves and find a way to attain the aforementioned network effect. To accomplish this, such issuers will need to rely on optimized technology, service providers, algorithms and network endpoints to make transactions cheaper and faster, with less friction. At the end of the day, the utility of a stablecoin is its ease of use – either through payment, speculative purposes or remittances. Whereas Visa, Mastercard and American Express have huge networks to offer their customers, stablecoins will find a uniform way to transact across borders and technologies, all the while maintaining a fast and secure architecture, the impact of which will produce greatly amplified ramifications for digital assets globally. In the not-too-distant future, there will also be ways to remit stablecoins nearly instantaneously with low settlement risk and on a real-time gross settlement basis. In order to get there, and since most centralized fiat-backed stablecoins typically rely on one issuer, one bank account, one auditor, and are tied to one jurisdiction’s laws, we need a better defined global legal and tax framework to govern such borderless assets. While these are typically handled between G20 member organizations and at the OECD level, blockchain technology itself may become a solution. This is also a ripe issue for one of the emerging digital asset trade groups or Self-Regulatory Organizations (SROs) to tackle head-on, given its importance to the underlying health and growth of our industry.

crypto_currency

Sovren will be at the forefront of integratingthese technologies into the digital assettrading service industry by building a tradingplatform that uses Artificial Intelligence (AI)Technologies and Intelligent Automation forsecurity, customer service and trading services.

a4ld6g

Sovren Passing the torch

The key takeaway for current and future issuers is to differentiate themselves and find a way to attain the aforementioned network effect. To accomplish this, such issuers will need to rely on optimized technology, service providers, algorithms and network endpoints to make transactions cheaper and faster, with less friction. At the end of the day, the utility of a stablecoin is its ease of use – either through payment, speculative purposes or remittances. Whereas Visa, Mastercard and American Express have huge networks to offer their customers, stablecoins will find a uniform way to transact across borders and technologies, all the while maintaining a fast and secure architecture, the impact of which will produce greatly amplified ramifications for digital assets globally. In the not-too-distant future, there will also be ways to remit stablecoins nearly instantaneously with low settlement risk and on a real-time gross settlement basis. In order to get there, and since most centralized fiat-backed stablecoins typically rely on one issuer, one bank account, one auditor, and are tied to one jurisdiction’s laws, we need a better defined global legal and tax framework to govern such borderless assets. While these are typically handled between G20 member organizations and at the OECD level, blockchain technology itself may become a solution. This is also a ripe issue for one of the emerging digital asset trade groups or Self-Regulatory Organizations (SROs) to tackle head-on, given its importance to the underlying health and growth of our industry.

crypto_currency

The Holiday Season is a time to connect with the people we care about, and with **Sovren**, you will be able to do so on a social trading experience. You can invest, create funds, and collaborate with your friends and family.

a4ld6g

Sovren Passing the torch

The key takeaway for current and future issuers is to differentiate themselves and find a way to attain the aforementioned network effect. To accomplish this, such issuers will need to rely on optimized technology, service providers, algorithms and network endpoints to make transactions cheaper and faster, with less friction. At the end of the day, the utility of a stablecoin is its ease of use – either through payment, speculative purposes or remittances. Whereas Visa, Mastercard and American Express have huge networks to offer their customers, stablecoins will find a uniform way to transact across borders and technologies, all the while maintaining a fast and secure architecture, the impact of which will produce greatly amplified ramifications for digital assets globally. In the not-too-distant future, there will also be ways to remit stablecoins nearly instantaneously with low settlement risk and on a real-time gross settlement basis. In order to get there, and since most centralized fiat-backed stablecoins typically rely on one issuer, one bank account, one auditor, and are tied to one jurisdiction’s laws, we need a better defined global legal and tax framework to govern such borderless assets. While these are typically handled between G20 member organizations and at the OECD level, blockchain technology itself may become a solution. This is also a ripe issue for one of the emerging digital asset trade groups or Self-Regulatory Organizations (SROs) to tackle head-on, given its importance to the underlying health and growth of our industry.

crypto_currency

This would make cash available instantly. Equally, investments in assets like Bitcoin can be used to pay for consumer goods, like a simple cup of cofee, with the exchange providing the liquidity for instant crypto to fiat conversation.