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Chin Strap posted:How is something worth 5 million if someone else readily sold it to you for 3.5 million? I've already answered this question. Per my prior Warmachine posted:"value" is an abstract and subjective thing unrelated to the price of a good or service
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Aug 26, 2022 15:23
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brugroffil posted:My plan is simple: find and use massive arbitrage opportunities to enrich yourself with little to no effort. whats your @
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Aug 26, 2022 15:27
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Warmachine posted:This is just an economics degree talking. And yes, it makes you exactly as unrelatable to normal people as you sound. Source is me, an econ degree holder. You really do not need an entire econ degree just to realize that buying some horribly overpriced garbage for "50% off" is still a bad deal. The uneducated masses aren't milling around lamenting to themselves that they're gonna go bankrupt because they help missing the opportunity to "save money" from those "$200 value for just $25!! call now!!" as-seen-on-tv commercials.
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Aug 26, 2022 15:34
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RPATDO_LAMD posted:You really do not need an entire econ degree just to realize that buying some horribly overpriced garbage for "50% off" is still a bad deal. Why is your av's dong coming out of its knee?
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Aug 27, 2022 03:07
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Aug 27, 2022 03:32
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Oof
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Aug 27, 2022 03:55
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Aug 27, 2022 03:59
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How do you not cut your losses sooner.
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Aug 27, 2022 04:22
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Gaius Marius posted:How do you not cut your losses sooner. Sunk cost fallacy. Not only did he not cut his losses, he clearly kept putting all his subsequent contributions into the same stupid penny stock.
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Aug 27, 2022 04:25
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It's not just knowing when to hold 'em, it's also knowing when to fold 'em. Namaste.
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Aug 27, 2022 04:27
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it's called buying the dip, morons!
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Aug 27, 2022 04:52
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Dip dip dipadelphia
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Aug 27, 2022 04:54
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The answer is yes, right? They just have to sell and buy something slightly different, like T Rowe Price’s index fund instead of Vanguard’s. Incredibly stupid waste of money, but they can at least avoid taxes on an equal amount of capital gains.
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Aug 27, 2022 05:35
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It was in their 401k.
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Aug 27, 2022 05:37
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withak posted:It was in their 401k. Yep, he pissed away $60k and there is no silver lining. What an idiot. Reminds me of my coworkers who cashed their 401k’s to buy BTC when it was at its peak.
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Aug 27, 2022 05:39
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Oh, right
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Aug 27, 2022 06:27
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Gaius Marius posted:How do you not cut your losses sooner. He probably "averaged down" the whole way. It's all the rage these days!
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Aug 27, 2022 09:34
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Now maybe I'm a moron here. But isn't the whole point of a 401k to put it in some kind of x fund where x is a diverse group of investments with some risk criteria set based on intended retirement age or risk category. Like I get putting some of your 401 in the s&p500 but not a single individual stonk.
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Aug 27, 2022 14:11
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tater_salad posted:Now maybe I'm a moron here. But isn't the whole point of a 401k to put it in some kind of x fund where x is a diverse group of investments with some risk criteria set based on intended retirement age or risk category. Like I get putting some of your 401 in the s&p500 but not a single individual stonk. In theory. But hear me out. What if I can beat the market?
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Aug 27, 2022 14:17
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What kind of 401k offers individual stock picking anyway?
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Aug 27, 2022 14:22
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brugroffil posted:What kind of 401k offers individual stock picking anyway? A dumb one. Let alone otc stocks.
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Aug 27, 2022 14:30
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A lot of fidelity plans do these days, I theoretically could pick individual stocks in mine.
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Aug 27, 2022 14:36
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You can self-manage your 401k if you want, a bunch of providers offer plans where the custodian will buy exactly the investments you direct them to buy. You can also create an LLC that is owned by your retirement account but managed by you, which is totally legal but offers lots of new and exciting ways to break the rules of your retirement account and suddenly owe a huge amount of tax!
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Aug 27, 2022 14:37
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Leon Trotsky 2012 posted:Just tell everyone to sell you their house at a 30% discount, then sell the house for 150% of its value. Repeat infinitely. Ignoring the fake numbers; even in this ideal scenario isn’t he looking at a monthly payment of like $50k to turn this into equity within five years? As in, full occupancy of 25 separate units?
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Aug 27, 2022 14:57
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tater_salad posted:Now maybe I'm a moron here. But isn't the whole point of a 401k to put it in some kind of x fund where x is a diverse group of investments with some risk criteria set based on intended retirement age or risk category. Like I get putting some of your 401 in the s&p500 but not a single individual stonk. bro how u gonna get a willard-tier IRA by "tracking the market"
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Aug 27, 2022 15:45
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That King Khang guy is some great content. He's created a line of NFTs called The Millionaire Club.quote:TMC NFT is not only a collectible unique art NFT, but it’s also a membership NFT that grants you exclusive access to The No.1 Real Estate Networking Private Community. quote:We have acquired some digital assets like virtual lands that will be developed over time for future purposes like meet-ups quote:Holders will be able to earn $TMC Utility Token. Higher Tier will earn more (Limited supply when hit certain volume). There 
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Aug 27, 2022 15:45
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Jabor posted:You can self-manage your 401k if you want, a bunch of providers offer plans where the custodian will buy exactly the investments you direct them to buy. I think that was one of Romney's tax dodges. Pump money into retirement account, invest in his own businesses, artificially deflate the businesses worth, pull stocks out, reinflate value. Something like that.
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Aug 27, 2022 16:07
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Heffer posted:I think that was one of Romney's tax dodges. Pump money into retirement account, invest in his own businesses, artificially deflate the businesses worth, pull stocks out, reinflate value. Something like that. Yeah the scam is a little more complicated and different than this but it boils down to the same thing: because he worked for a private equity firm he could effectively lie about the value of what he contributed to the 401k - either by contributing stock at a falsely low value or letting the 401k have options to buy stock he didn't properly account for in the contribution limits. It wasn't actual trading, just lying about the value of what he was putting in.
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Aug 27, 2022 16:23
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evilweasel posted:Yeah the scam is a little more complicated and different than this but it boils down to the same thing: because he worked for a private equity firm he could effectively lie about the value of what he contributed to the 401k - either by contributing stock at a falsely low value or letting the 401k have options to buy stock he didn't properly account for in the contribution limits. It wasn't actual trading, just lying about the value of what he was putting in. It wasn't even lying? Or at least, lying is he wrong word. He was either exercising options there somehow, or having a portion of his carry just go in directly. That portion is taxed at the value it holds when distributed - but that value is essentially super low as compared to current value, with the expectation that they'll recover some of that via capital gains. But shoving it into the 401k lets him circumvent the cap gains on those stocks. But then he's paying for it as income when it comes out, which is potentially a net loss for him.
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Aug 27, 2022 16:58
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My UK pension would happily let me stick my retirement fund in meme stonks 
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Aug 27, 2022 18:07
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Vox Nihili posted:He probably "averaged down" the whole way. It's all the rage these days! I've been seeing a lot of people pushing that meme right now as well.
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Aug 27, 2022 18:41
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https://vxtwitter.com/jessicaray0/status/1563329075153760256?s=21&t=GiIoxJXB4g-pR20YFASoZA
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Aug 27, 2022 18:55
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i had to google what OTC meant in this context but i liked my guess of "one trillionth of a cent" better
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Aug 27, 2022 19:09
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sticksy posted:https://vxtwitter.com/jessicaray0/status/1563329075153760256?s=21&t=GiIoxJXB4g-pR20YFASoZA What the christ
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Aug 27, 2022 19:12
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sticksy posted:https://vxtwitter.com/jessicaray0/status/1563329075153760256?s=21&t=GiIoxJXB4g-pR20YFASoZA loving hell, all these people putting at least 1300/m, some putting twice that, into car payments. That's psychotic.
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Aug 27, 2022 19:16
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GWM: not having a car payment. BWM: 
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Aug 28, 2022 06:05
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Guest2553 posted:GWM: not having a car payment. That's a lot of carried printers
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Aug 28, 2022 06:37
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Guest2553 posted:GWM: not having a car payment. Im gonna assume this is lies all around. The person posting it was not gifted that and the person quoting it didn't gift it.
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Aug 28, 2022 11:57
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Barudak posted:Im gonna assume this is lies all around. The person posting it was not gifted that and the person quoting it didn't gift it. It is, yeah. The OP apparently does a post like this about once a year with various "gifts", and a common response is to claim that they were the sub in question.
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Aug 28, 2022 12:08
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Barudak posted:Im gonna assume this is lies all around. The person posting it was not gifted that and the person quoting it didn't gift it. This one is probably fake, but it's definitely based in reality.
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Aug 28, 2022 12:23
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