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pig slut lisa posted:Why did he want to leave his CU, and how did he get that far without any credit history. Is "borderline retarded" literal and he's always had family take care of his finances or something? He got charged a fee he disagree with. But yeah, he used to live on his own and had a locksmith business, but was never quiet all there and for the last decade just lived with his mother, getting weirder and weirder while his credit history got smaller and smaller.
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Nov 20, 2015 13:16
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Craptacular posted:GBS has a relevant thread: http://forums.somethingawful.com/showthread.php?threadid=3752301 The broker is the one BWM here, since they let him actually do this without having an automated limit in place to auto-fulfill his order once he hit -10k with no collateral in lieu of eating the 100k they'll almost certainly swallow when they realize this guy has zero assets.
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Nov 20, 2015 15:43
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Volmarias posted:The broker is the one BWM here, since they let him actually do this without having an automated limit in place to auto-fulfill his order once he hit -10k with no collateral in lieu of eating the 100k they'll almost certainly swallow when they realize this guy has zero assets. The fundamental issue with a short squeeze is that limit orders can go unfilled due to rapid price changes and illiquidity, and it appears this fool had to cover at a ridiculous price in a panic
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Nov 20, 2015 17:45
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"Heh, index funds. I'm way smarter than that. I'm gonna beat the market."  Like, assuming he doesn't have 110k in assets (he probably doesn't), what happens? Do they get to garnish his wages? Can he discharge that in bankruptcy?
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Nov 20, 2015 18:54
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Nail Rat posted:"Heh, index funds. I'm way smarter than that. I'm gonna beat the market." It's just debt like anything else and you owe it basically no matter what. There have been some terrible cases of automatic margin calls and algorithmic liquidations occurring in wacky volatile trading causing traders to get completely wiped out worse than that guy's short sale, and it's pretty much too bad so sad. BEHOLD: MY CAPE fucked around with this message at 19:55 on Nov 20, 2015 |
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Nov 20, 2015 19:49
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BEHOLD: MY CAPE posted:It's just debt like anything else and you owe it basically no matter what. So it's more like student loan debt, rather than "anything else?"
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Nov 20, 2015 20:28
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Sounds like someone might need a new thread: http://forums.somethingawful.com/showthread.php?threadid=3270178&userid=0&perpage=40&pagenumber=700#post452880340
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Nov 20, 2015 20:36
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Nail Rat posted:So it's more like student loan debt, rather than "anything else?" No, you can discharge a short sale debt in bankruptcy, I believe.
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Nov 20, 2015 20:39
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BEHOLD: MY CAPE posted:It's just debt like anything else and you owe it basically no matter what. There have been some terrible cases of automatic margin calls and algorithmic liquidations occurring in wacky volatile trading causing traders to get completely wiped out worse than that guy's short sale, and it's pretty much too bad so sad. Everything I know about short selling I learned from https://en.wikipedia.org/wiki/Trading_Places
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Nov 20, 2015 21:24
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The new guy at work is straight out of college. His hobby is renting exotic cars for $1,000/day and just driving them around town (especially cruising around the college campus). He does this as often as he can, probably 10 times a year or more. I'm estimating that's probably 25% or more of his takehome pay for this goony dude to pretend to be a classy rich guy. 
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Nov 20, 2015 21:31
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canyoneer posted:The new guy at work is straight out of college. His hobby is renting exotic cars for $1,000/day and just driving them around town (especially cruising around the college campus). He does this as often as he can, probably 10 times a year or more. I work with a guy who crashed his Hyundai Genesis while driving recklessly and is now talking about leasing either a Jaguar or a Tesla. He's 22, lives with his parents, and makes around $40k.
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Nov 20, 2015 21:54
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Nail Rat posted:So it's more like student loan debt, rather than "anything else?" No, sorry, it's regular debt but in your brokerage account agreement you signed away all liability for market conditions, technical glitches, unfavorable forced liquidations, or any other theory that you think might get you out paying for a huge loss in a short squeeze. BEHOLD: MY CAPE fucked around with this message at 22:11 on Nov 20, 2015 |
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Nov 20, 2015 22:09
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canyoneer posted:The new guy at work is straight out of college. His hobby is renting exotic cars for $1,000/day and just driving them around town (especially cruising around the college campus). He does this as often as he can, probably 10 times a year or more. Too bad, because for $10,000/year net cost of ownership you can actually own a variety of really nice luxury or exotic cars
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Nov 20, 2015 22:11
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Dear financial advice column, we earn ₤190,000 a year and spunk it up the wall. Please advise.quote:By most measures Adam and Megan Brownson would be considered very affluent. We own ₤1 million in property and somehow have had to put ₤8,000 onto a credit card to pay for our lifestyles. quote:Having both been privately educated themselves, Adam and Megan are keen for the girls to have the same experience, and have signed them up to two private primary schools nearby. Hm quote:Their dilemma is how to fund the cost of the girls’ education without sacrificing their lifestyle. candlebudget.jpg quote:Megan, who is currently on maternity leave, usually works four days a week but she could increase her salary considerably if she goes back to work full time. I would say do tha quote:With two small children she’s reluctant to do this. Nevermind quote:The couple could, alternatively, sell their buy-to-let to pay the school fees I would say do th quote:but they don't want to miss out if the property rockets in value in the future. They also see it as a long-term nest egg to boost their pension. Of course you don't. Good job the housing bubble only happened that one time! quote:They only have a few hundred pounds in cash savings and have a very limited knowledge of investment - but are willing to take on some risk. You don't say.
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Nov 20, 2015 22:48
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I'm a little surprised that total net worth of ~£400,000 and income of £190,000 qualifies as top 1% in GB
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Nov 20, 2015 23:05
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BEHOLD: MY CAPE posted:I'm a little surprised that total net worth of ~£400,000 and income of £190,000 qualifies as top 1% in GB Based on the wording, I think they are counting them as 'owning' ~£1m worth of property and not subtracting the debt.
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Nov 20, 2015 23:14
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BEHOLD: MY CAPE posted:Too bad, because for $10,000/year net cost of ownership you can actually own a variety of really nice luxury or exotic cars Ehhhhh a X3 leased is $750/mo with very good credit unless you drop down $5000 at signing. For the kind of exotics that are $1000/day you will pay significantly more than 10k/year. Maybe a mustang or vette sure
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Nov 21, 2015 02:27
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flyboi posted:Ehhhhh a X3 leased is $750/mo with very good credit unless you drop down $5000 at signing. For the kind of exotics that are $1000/day you will pay significantly more than 10k/year.  what, an X3 lease with excellent credit is $450-600 depending on trim, without negotiating.
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Nov 21, 2015 03:25
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Guinness posted:
Yeah no. I did however typo but I was quoted $650/mo for one with a msrp of 51k. If you go completely base line probably but they're crappy without some packages. It also doesn't help that the residual is 50% I believe on the X line while 3 series is 65% flyboi fucked around with this message at 03:40 on Nov 21, 2015 |
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Nov 21, 2015 03:37
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Oh good, we're swapping retarded gas derail for retarded bmw derail because goons are dyslexic
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Nov 21, 2015 04:01
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This reminds me of an old lullaby my grandmother would croon to me: "When BWM turns into AI, it really makes me want to die" Miss you gam gam 
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Nov 21, 2015 04:08
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A friend of mine is BWM. Lots of money owed for student loans, a credit-consolidation loan, then another credit card. He only pays the minimums on each. He refuses to budget, always claims he has no money, and still habitually spends money on random junk. Even with his current little-hours part-time job, he still managed to blow $150 on a (fairly nice, admittedly) tower PC. A good deal, but bad with money. Given that the credit cards and loans are over six years old now, I wonder how much has been paid just for the interest.
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Nov 21, 2015 04:15
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When you are unemployed or unemployed the only BWM issue of note is not getting a better job.
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Nov 21, 2015 05:19
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flyboi posted:Ehhhhh a X3 leased is $750/mo with very good credit unless you drop down $5000 at signing. For the kind of exotics that are $1000/day you will pay significantly more than 10k/year. I was thinking more along the lines of a used 911 etc that can be had for relatively cheap and has done its depreciating. Cash flow would be a necessity but if you're only paying finance + mileage depreciation + maintenance + insurance on a leisure car the net expense is much much lower than a new car.
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Nov 21, 2015 06:10
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n8r posted:Sounds like someone might need a new thread: I've noticed Cornholio talking about that lease over the last little while. He's also driving a BMW 540 if I recall correctly and is pining for a big dodge. I really want to hope he's not backsliding, but the writing's on the wall.
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Nov 21, 2015 13:40
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What are some of the good BFC classic threads? I don't have archives and just finished the Blue Story saga
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Nov 21, 2015 16:15
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Are you familiar with the Zaurg cannon? I'd start there.
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Nov 21, 2015 16:25
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Help a phoneposting bro out and link me the good stuff?
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Nov 21, 2015 19:10
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Zamujasa posted:Even with his current little-hours part-time job, he still managed to blow $150 on a (fairly nice, admittedly) tower PC. A good deal, but bad with money.
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Nov 21, 2015 22:31
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Zaurg: http://forums.somethingawful.com/showthread.php?threadid=3470495%26userid=39160 Slow Motion: http://forums.somethingawful.com/showthread.php?threadid=3560557 I wish I could find the murderknobs thread, that one was loving great. e: this is all I could find of MK http://forums.somethingawful.com/showthread.php?threadid=3175682&userid=125989 I had an idiot thread on here a while back, but someone decided to facebook msg my wife and poo poo went downhill fast...
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Nov 22, 2015 03:14
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Cicero posted:You mean $1500? Otherwise that sounds pretty good with money. Maybe it was just the tower pc case. A pc case could be a good deal at $150 if it had LEDs and maybe flames on the side.
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Nov 22, 2015 03:33
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Documentary The truth about payday loans. It's one hour of BWM including a guy who become suicidal over a 400 pound loan. The best part is the advertisements popping up for me are all for payday loan companies. https://www.youtube.com/watch?v=Wbuj1FE0HPQ
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Nov 22, 2015 06:43
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https://www.youtube.com/watch?v=NTMT0KDp7SM Bringing back gasoline chat with australia.flv
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Nov 22, 2015 07:14
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BloodBag posted:I wish I could find the murderknobs thread, that one was loving great. Here's one of them: http://forums.somethingawful.com/showthread.php?threadid=3201890&pagenumber=1
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Nov 22, 2015 09:12
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Weatherman posted:Here's one of them: http://forums.somethingawful.com/showthread.php?threadid=3201890&pagenumber=1 Thanks, this is great
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Nov 22, 2015 17:21
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So they're spending £24 grand a year to stop their kids having to mix with the poors? Is private primary school worth it? That's when you learn social skills and the basics, it's probably better for your kid to mix with other kids from a range of backgrounds. If you want the elite school thing but without the £24000 debt, just hire a tutor when they're ten, get them to pass them the 11 Plus exam and hope they can get into a Grammar School.
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Nov 23, 2015 01:04
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OldMemes posted:So they're spending £24 grand a year to stop their kids having to mix with the poors? Is private primary school worth it? That's when you learn social skills and the basics, it's probably better for your kid to mix with other kids from a range of backgrounds. If you want the elite school thing but without the £24000 debt, just hire a tutor when they're ten, get them to pass them the 11 Plus exam and hope they can get into a Grammar School. I don't know about the UK, but in the US private school can absolutely be worth it, especially if you live in a state and/or a neighborhood with lovely public schools. And there's a lot of those. There was a really good article on the NY Times about Massachusetts's rejection of common core testing. Top comment explains it pretty well: quote:I'm a public school teacher who sent both of my children to very selective private high schools (one went to an all-boys school and one went to the all-girls school that Bill Gates' wife attended) after they attended K-8 in public schools. If even public school teachers, who themselves make not that much money, are sending their kids to private schools, you know something is up.
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Nov 23, 2015 01:22
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Can't disagree that public schools are getting the short end of the stick, but assuming a school teacher would be an absolute authority on education is like thinking a doctor wouldn't hawk snake oil.
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Nov 23, 2015 01:36
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I believe the UK has a very good public education system. The problem is fairly simple with that idiotic couple, they want to continue their lifestyle while at the same time not sacrificing anything. Not even their investment property.
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Nov 23, 2015 01:55
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NancyPants posted:Can't disagree that public schools are getting the short end of the stick, but assuming a school teacher would be an absolute authority on education is like thinking a doctor wouldn't hawk snake oil. I have a lot of public school teachers in my family. One of them is currently trying to convince her son's middle school to hold him back a year so that he will be bigger than the other boys in his grade and will be more likely to dominate in sports so he can get a scholarship after high school. When the principal pointed out that her son was literally the top of his class and doing this would deeply harm his development she got pissy and claimed he would be getting a call from her lawyer (lol, what lawyer?). She is par for the course when it comes to the critical thinking of my school teacher relatives.
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Nov 23, 2015 02:00
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