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Dango Bango posted:A match on a dating app. I don't know this person. This chick will prolly let you go bare back if you play it right. Get some youngblood.
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Jan 26, 2021 00:23
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a neat cape posted:I'm happy for you Thanks. I hope you can get one soon too!
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Jan 26, 2021 00:26
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By the sounds of I need to carve out time to hang around a vaccination area before they close.
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Jan 26, 2021 00:30
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Bird in a Blender posted:Reddit finally does something good.
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Jan 26, 2021 00:32
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Quite a few posters two and three pages back who really really should pay an extended visit to BFC's long-term investing and retirement thread. It's an incredibly useful resource. tl;dr, the bulk of your retirement savings should be in extremely low fee, index-based mutual funds, such as those offered by vanguard and fidelity. If you wanna gamble on individual stocks you can, but that should be a proportionally tiny part of your overall portfolio. You probably should not be paying a financial advisor, who is probably ripping you off, and probably doing worse than a baseline 3-fund index fund would do in terms of return, in exchange for ripping you off. There's exceptions but mostly it's for people with millions of dollars, or who are in really weird situations (significant foreign income, perhaps, or maybe you own an oil well, or you are managing your parent's retirement, or something) and in those cases you should be using a flat fee based advisor and definitely not someone who is taking 1% or more of your portfolio annually for a few hours' work. also no it's not illegal to naked short stocks, lol and yes the ability of millions of redditers to use zero-fee trading with the robinhood app is actually causing all sorts of bizarre swings and side-effects for various meme stocks, it's amazing, and the main reason to read the stocks thread is for the commentary on that poo poo
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Jan 26, 2021 00:33
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Fifty Three posted:Wait aren't retirement funds a part of hedge funds? Or are they purely rich people poo poo? This reads like someone completely uninvolved just had their 401k wiped out, how is that a good thing A hedge fund is a private company that invests billions of dollars according to some stated principle or pattern or strategy. The word "hedge" originally meant the strategy was to reduce the risk of other investments, but nowadays it's more of a catch-all term for any large private (e.g., non-mutual) fund co. most of which have multiple products they sell. Typcally modern hedge funds are doing very risky investments with the aim of reaping huge rewards: the side-effect of this approach is that many hedge funds fail. That's the nature of risk. Many people buy into hedge fund products as part of their retirement portfolios (which they usually should not). Extremely wealthy people and financial companies often invest in other companies' hedge funds.
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Jan 26, 2021 00:36
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Oh good, so the stock market is picking up the worst trends of social media, this should go well
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Jan 26, 2021 00:36
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3 DONG HORSE posted:Thanks. I hope you can get one soon too! If I get it by my birthday ill consider myself exceedingly lucky
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Jan 26, 2021 00:39
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also this isn't really new, it's been happening for about 10 years or more now, but the rise in popularity of robinhood has accelerated things because the barriers to entry are now almost nonexistent robinhood, by the way, sucks rear end, it's a loving phone-only app, sometimes it's just down, you can't reach a person, they've had bugs in how they handle stuff like options in the past, etc. but it's free, no-fee buys and sells on stonks, and the kids they love their phone apps, so yeah that's how we get Tesla's current market price at ten times what it was just a year ago lol
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Jan 26, 2021 00:40
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Tesla is only in the SP500 because Robinhood so while Gamestop is hilarious its all a net negative on the world for making Elon richer
Master Stur fucked around with this message at 00:44 on Jan 26, 2021 |
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Jan 26, 2021 00:41
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https://twitter.com/jerrysaltz/status/1353732519225675779 lmao guess what this dude does for a living
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Jan 26, 2021 00:46
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Was able to get my step dad vaccinated today so thats a relief.
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Jan 26, 2021 00:46
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Master Stur posted:Tesla is only in the SP500 because Robinhood so while GME is hilarious its all a net negative on the world for making Elon richer A LOT of people are learning very bad lessons from their successes with things like tesla 2020, bitcoin, etc. One of the worst things that happens to neophyte investors is an early windfall, because it appears to validate their investing theory, and that in turn encourages them to go all-in on that theory. Which has a nasty tendency to end in bankruptcy and sometimes even suicide. FOMO is a powerful drug and people like that drag others to their dooms too.
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Jan 26, 2021 00:48
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Intruder posted:https://twitter.com/jerrysaltz/status/1353732519225675779 He claims to have gotten it from Oscar Wilde? Which I in turn read as a facetious dig at critics, making this guy repeating it unironically all the better
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Jan 26, 2021 00:49
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Leperflesh posted:There's exceptions but mostly it's for people with millions of dollars, or who are in really weird situations (significant foreign income, perhaps, or maybe you own an oil well, or you are managing your parent's retirement, or something) and in those cases you should be using a flat fee based advisor and definitely not someone who is taking 1% or more of your portfolio annually for a few hours' work. lol you like exactly described me as i'm like all of those things
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Jan 26, 2021 01:47
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I'm sorry... you own an oil well?
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Jan 26, 2021 01:53
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So Leper, you’re saying I should download robinhood and then buy GameStop stock???
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Jan 26, 2021 01:54
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Spoeank posted:I'm sorry... you own an oil well? I own a percentage of land an oil well sits on in Canada, which fulfills the foreign asset part as well. It's distributed as part of family trust so I get like a few thousand bucks from it but it complicates my finances on top of other things.
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Jan 26, 2021 01:57
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Ornery and Hornery posted:So Leper, you’re saying I should download robinhood and then buy GameStop stock??? no I'm saying you should download robinhood and then open a long & short straddle option on it and then not understand what happens if one leg of your straddle gets assigned
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Jan 26, 2021 01:57
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Leperflesh posted:no I'm saying you should download robinhood and then open a long & short straddle option on it and then not understand what happens if one leg of your straddle gets assigned I thought we were trying to stop people from committing suicide.
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Jan 26, 2021 01:59
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Its Rinaldo posted:I own a percentage of land an oil well sits on in Canada, which fulfills the foreign asset part as well. It's distributed as part of family trust so I get like a few thousand bucks from it but it complicates my finances on top of other things. My family also owns land with several oil wells too bad they don't own the mineral rights!
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Jan 26, 2021 02:04
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financial advisors typically take like 1% to 1.5% (sometimes more!) of your portfolio annually. An indie advisor might have 40 or 50 clients. Suppose each client might have an average portfolio of say, $500k (many less but a few with a lot more). So with $22.5M in assets under management, this advisor is scraping $225k annually @ 1% fee. To justify this expense, the manager is spending one hour per quarter on each client, and during that one hour, he buys a few stock, bond, or fund positions and sells a few others; and then he also spends one hour a year on the phone with each client (on average) yakking it up with them and showing them charts with how great their portfolio is doing. That's 250 hours a year, or an average of 5 hours a week. Of course, this manager is underperforming a basic set of index funds. But his clients don't know that, because most years the market is up, so if he returns 7% to his clients on a year when a baseline set of index funds returned 9%, they're happy. The occasional client who is unhappy with this will be told that their situation is special, the manager is avoiding risk for them so they should expect returns a little less than the market, and also hey he's only charging 1%, lots of his competitors charge 1.25 or 1.5%, this is a discount! or otherwise deflect that criticism. Five hours a week for a $225k annual salary to underperform the market for 45 suckers. It's a loving nice gig if you can get it. Meanwhile the majority of those clients could spend a few days reading a couple of books or watching some online videos, put all their money into three index funds, and reduce their expenses to 0.1% annually. Each year's leeching by this manager is costing them not only the $5k he took that year, but all of the returns that $5k would have gotten them for the rest of their life. It can add up to a huge pile of lost income. It's trivial to qualify as a "financial advisor" and only marginally harder to meet the requirements to be a "fiduciary" (who at least has a legal requirement to sort of act in your best interests, kinda; the former can sell you any product that is "suitable" which is a bar so low that outrageously stupid products with huge fees that are basically scams still manage to clear it). This is why the long-term thread advises people to avoid financial advisors. I really hope Rinaldo's is good, maybe they are, and maybe the situation is complex enough that it's worth it... but gosh so many people come into that thread and report that they (or their parents, sadly) have been frittering away a percent or two for decades for one of these loving leeches and it's so, so sad. Leperflesh fucked around with this message at 02:11 on Jan 26, 2021 |
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Jan 26, 2021 02:09
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Leperflesh posted:
This is why I basically just keep Vanguard's VFIAX in my Roth IRA. I've still got time to get some bonds but they suck with return and I've got 16+ years before I can even think of pulling funds out anyway. Every two weeks, just put in a set amount and forget it. It would be nice to catch a Gamestop wave but I'll take boring and basically predictable when it comes to a nest egg.
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Jan 26, 2021 02:19
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well well well a lot of landowners and oil barons in this thread. I think it's time we flip this here wall situation around
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Jan 26, 2021 02:20
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Spoeank posted:well well well a lot of landowners and oil barons in this thread. I think it's time we flip this here wall situation around Come live with me out in the boondocks. Can't get a pizza delivered, and the nearest Walmart is 25 minutes away but we have land!
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Jan 26, 2021 02:22
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I’ve been listening to a lot of Creedence lately, and I really want to know what Louisianans think of CCR. Since they were all from the Bay Area, but sang about being Born on the Bayou, and all that.
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Jan 26, 2021 02:26
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Amy Pole Her posted:Ridiculous amount = ONE HUNDRED AND FORTY FIVE PERCENT of the total amount of shares or something. How can you short something over 100%? I do not understand how that'd be allowed but then it goes into the deeper issue of me barely understanding options/calls/puts, etc. Note that this person bought in with $744,735.
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Jan 26, 2021 02:27
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Dango Bango posted:So this just happened. Note the timestamps. (From the dating app Hinge if you're not familiar): Hit it and quit it
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Jan 26, 2021 02:38
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https://twitter.com/physorg_com/status/1353665790663393280?s=19
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Jan 26, 2021 02:40
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because after a global thermonuclear war the thing we'll need to focus on are equatorial algae populations.
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Jan 26, 2021 02:46
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I wish I had money. Oh well, I’m safe and happy with my job in a tumultuous pandemic. Counting my blessings 
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Jan 26, 2021 02:49
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Bird in a Blender posted:I’ve been listening to a lot of Creedence lately, and I really want to know what Louisianans think of CCR. Since they were all from the Bay Area, but sang about being Born on the Bayou, and all that. They're ok, I guess. Some decent songs, just not my cup of tea.
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Jan 26, 2021 02:54
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Leperflesh posted:A LOT of people are learning very bad lessons from their successes with things like tesla 2020, bitcoin, etc. One of the worst things that happens to neophyte investors is an early windfall, because it appears to validate their investing theory, and that in turn encourages them to go all-in on that theory. Which has a nasty tendency to end in bankruptcy and sometimes even suicide. Yeah poo poo, the amount of people who ask me about investing when one of their friends makes a quick 10k off bitcoin or their portfolio of 500 dollars doubles because Elon Musk tweeted something... I always tell them I have the most boring boomer strategy imaginable. Any spare savings i have about x amount just goes into the top 500 and I pay tax on the dividends up front and then reinvest it. I'm always happy for people who beat the system but there's billions of dollars in the market who work just to take your money and you should be smart enough to realise if you act like a little feeder fish just scavenging off the scraps you're not going to become food. I just want to be able to retire a little earlier and a buy a nicer whiskey when I'm 50. I'm not thinking about new cars and private jets. I mean poo poo even when the banks should have failed they just got bailed out. I don't believe in the system, but I believe in corruption and greed and its never disappointed me.
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Jan 26, 2021 02:56
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Its Rinaldo posted:I own a percentage of land an oil well sits on in Canada, which fulfills the foreign asset part as well. It's distributed as part of family trust so I get like a few thousand bucks from it but it complicates my finances on top of other things. In the 1910s my great grandad got taken out by a railroad man with group of people from Waco to West Texas where he offered them square mile plots of worthless land that the railroad owned, kind of like a modern day timeshare pitch. He basically just felt obligated to buy a section since they guy had taken him on a free trip. 100 years later- a new oil lease and basically free money for my dad and his siblings/cousins. What a world.
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Jan 26, 2021 03:18
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Addie got a xray. She’s fine. I’m just a helicopter parent. Sent me home with antidiarrheals, probiotics, and orders to chill the gently caress out.
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Jan 26, 2021 03:26
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They say Doctors (Dogs) make the worst patients.
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Jan 26, 2021 03:27
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BlindSite posted:Happy Australia day! Gonna drink some beers on a motherfuckin Tuesday. An Aussie expat I'm friends with usually has an Australia Day party with backyard cricket and the triple J stream and now I'm sat about missing that too
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Jan 26, 2021 03:31
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Athanatos posted:They say Doctors (Dogs) make the worst patients. Dogtors FizFashizzle posted:Addie got a xray. She’s fine. I’m just a helicopter parent. It’s easy to hover when you love them. Don’t beat yourself up too much. My doggo dropped a hefty amount of melena on the lawn when she was a puppy and it just turned out to be severe colitis. A round of abx and a good food selection and she’s been fine for the subsequent 7 years. Gastrointestinally at least. She gets steroids for her addisons and SQ injections monthly. But no more awful runny bloody diarrhea! I don’t regret panicking for a second.
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Jan 26, 2021 03:36
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FizFashizzle posted:Hit it and quit it NEVER stick your dick in crazy. It can be a fun ride, but oh boy the downsides
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Jan 26, 2021 03:40
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Leperflesh posted:also this isn't really new, it's been happening for about 10 years or more now, but the rise in popularity of robinhood has accelerated things because the barriers to entry are now almost nonexistent There’s a lot of different folks that are pretty solidly disproving the whole “Reddit moves the needle” but I’ll be damned if it sure doesn’t seem so. Also Robinhood is not a phone only app.
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Jan 26, 2021 03:40
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