Bad With Money 2018: When I die, bury me in the blockchain.

The Something Awful Forums > Discussion > Ask/Tell > Business, Finance, and Careers > Bad With Money 2018: When I die, bury me in the blockchain.

«‹›4 »

Harry: Jun 13, 2003; I do solemnly swear that in the year 2015 I will theorycraft my wallet as well as my WoW

William Munny posted:

Last time I made a post about my coworker and his family, I (rightfully so) was yelled at for writing a book length post and it being generally confusing. To cut down on that, I'm just going to reduce it down to bullet points:

-Three people involved: Mark (Coworker), Deb (Mom), Dan (Brother of coworker). All of them have access to each others banking accounts. Mark pulls in around 75k/yr, Deb 110k/yr, Dan 32k/yr.

-Until recently Mark and Deb had cross financed each others vehicles as Deb had defaulted on a number of credit cards and had poor credit. Deb also opened credit cards in Mark's name and defaulted on them. Deb recently paid off her vehicle and Mark will pay his off soon. Rather than drive the car into the ground and pay down any other debt, Deb has decided to purchase a new second vehicle to drive as a daily driver and keep the paid off sports car for weekend driving. She told Mark she expects him to give his car to Dan and purchase a new vehicle in about a year (used cars unacceptable). Mark has his heart set on a new pickup truck.

-Mark has a credit card that Deb is an authorized user on. They had managed to pay the card down from 25k to 18k, but it ballooned up back to 23k as both Mark and Deb bought items for their various collection hobbies. This month the min payment was around 3k which caused them both to miss payments on other cards/loans. At one point Mark complained about having to stretch 20 bucks for a week and a half of gas/food. He's planning on taking himself and Deb to a theme park for vacation later this year.

-Deb is getting ready to retire early from her government job because she doesn't enjoy working anymore. Her home has about 40k left on the mortgage, no cash savings or 401k, and 4 or 5 maxed out credit cards (probably 60k?) that were 0% interest balance transfers that she did not pay off in time and so are charging super high interest. She has calculated that she'll probably receive about 70k a year from her gov. pension but won't be eligible for SS for another 10+ years.

I told Mark to expect to have to house his mom in the near future.

Every once in a while you just run into people/group of people who are incapable of making an acceptable decision. Not good, just acceptable. This seems like one of those groups.

# ¿ Jun 3, 2017 23:13

Adbot: ADBOT LOVES YOU

# ¿ May 5, 2024 11:43

Harry: Jun 13, 2003; I do solemnly swear that in the year 2015 I will theorycraft my wallet as well as my WoW

Ralith posted:

Not only is Bitcoin not the unique example of its tech, it's also liable to be replaced by better tech at any point. For example, there are competitors that add stuff like real fungibility.

I always like it when people talk about how some bitcoin derivative has x and y features, as if anyone cares.

# ¿ Oct 13, 2017 01:59

Harry: Jun 13, 2003; I do solemnly swear that in the year 2015 I will theorycraft my wallet as well as my WoW

greazeball posted:

Pro publica did a good story on this. You can file chapter 7, which wipes out all debts but also takes your assets (which poor people have few of) or chapter 13, which allows you to keep your assets but only wipes out your debt if you successfully make all your payments for 5 years. Guess which one white lawyers overwhelmingly push on low income PoC in the south?

https://features.propublica.org/bankruptcy-inequality/bankruptcy-failing-black-americans-debt-chapter-13/

Are we supposed to pretend that if they had blacks overwhelmingly take chapter 7, you wouldn't be deriding them for having them choose the option that makes them lose their car?

# ¿ Dec 2, 2017 16:55

Harry: Jun 13, 2003; I do solemnly swear that in the year 2015 I will theorycraft my wallet as well as my WoW

Ancillary Character posted:

I thought it was possible to reaffirm a specific secured debt in bankruptcy allowing you to keep the asset and the debt attached to it. Or does that not apply to Chapter 7 bankruptcies?

I believe it depends on the state. Apparently in Tennessee it's not the case.

quote:

For many people, the most important thing is keeping their car, a necessity in Memphis, which has little public transportation. Used car lots abound, offering subprime credit. When borrowers fall behind and lenders threaten repossession, Chapter 7 won�t stop that from happening. But Chapter 13 allows secured debts to be repaid over the course of the plan. In theory, loan payments on a car or mortgage can be reduced to an affordable level, providing time to catch up without fear of repossession or foreclosure.

# ¿ Dec 2, 2017 17:29

Harry: Jun 13, 2003; I do solemnly swear that in the year 2015 I will theorycraft my wallet as well as my WoW

Your'e acting like they're significantly better off with discharged debts, no car, and inability to file for another 7 years. They're not defaulting on their court ordered debt payment plan because they're so lush with cash. That and that the attorneys need to do it out the kindness of their hearts since they're not going to get paid.

# ¿ Dec 2, 2017 21:02

Harry: Jun 13, 2003; I do solemnly swear that in the year 2015 I will theorycraft my wallet as well as my WoW

Subjunctive posted:

Is disability fraud really a thing? Up here there was a whole kerfuffle about health plan fraud, but the numbers showed that the enforcement apparatus was costing much more than the (trivial) amount of fraud that actually happened.

What do you mean exactly by healthcare fraud? NJ was just shown to have taken an extra $600 million for medicare, and it's like every other month where some company had taken an extra couple hundred million.

# ¿ Dec 4, 2017 21:14

Harry: Jun 13, 2003; I do solemnly swear that in the year 2015 I will theorycraft my wallet as well as my WoW

Subjunctive posted:

Individuals who weren't eligible for the provincial health insurance program using various fakery to get services paid for. Similar to the "welfare queen" political meme in the states a while back, if I'm remembering it correctly.

Ah, no idea. Supposedly a lot of America somehow became disabled after 2008, especially in parts where the economy has been trashed.

http://apps.npr.org/unfit-for-work/

# ¿ Dec 4, 2017 21:22

Harry: Jun 13, 2003; I do solemnly swear that in the year 2015 I will theorycraft my wallet as well as my WoW

werdnam posted:

This woman's smug bootstraps platitude makes me irrationally angry. You mean, all it takes to pay off a massive debt is to have your parent hire you at an above market salary, gift you a six-figure asset that you can turn into passive income, and let you live rent-free (and probably feed you too)?

If I can do it anyone can, my rear end.

Based on the article, it's actually pretty safe to say her husband is pulling in $200k or so a year. So marry someone with high income is the real take away.

# ¿ Dec 7, 2017 19:05

Harry: Jun 13, 2003; I do solemnly swear that in the year 2015 I will theorycraft my wallet as well as my WoW

potee posted:

Poverty and/or living in a bank desert:

https://publicpolicy.wharton.upenn.edu/live/news/1895-financial-exclusion-why-it-is-more-expensive-to-be/for-students/blog/news.php

An actual real answer is that they overdrafted an account at another bank and are flagged, or there are garnishments and any amount of money that shows up at a real bank will be swept away.

# ¿ Dec 23, 2017 19:45

Harry: Jun 13, 2003; I do solemnly swear that in the year 2015 I will theorycraft my wallet as well as my WoW

NancyPants posted:

Me neither, I'm assuming it's because everything in Texas is a boss hog nightmare.

Actually Texas is pretty good about this stuff. Max they would be out for breaking the lease is like $4,000. That's if the landlord even tries to go after them. And it's basically impossible to garnish wages unless you're the IRS.

# ¿ Jan 5, 2018 03:00

Harry: Jun 13, 2003; I do solemnly swear that in the year 2015 I will theorycraft my wallet as well as my WoW

NancyPants posted:

There's far more to breaking a lease than the immediate monetary cost. Texas doesn't strike me as the kind of place where you can't blacklist a renter for having walked out on a lease before, considering it's the kind of place where it's perfectly legal to charge people more if they don't want you walking in with no notice in the final month of the lease.

It might be perfectly legal to leave, but with his lovely credit (600, really?), huge debt compared to income, and generally being an idiot, he might be better off staying there and cutting costs elsewhere. If he can declare BK, that additional 3 years is just as much a guarantee for him that he's got a place to live as it is locking him in.

In Texas you can rent a nice 2 bedroom apartment within 10 minutes of downtown of any of the major cities for $1400-$1500. If the apartment really doesn't trust him, they'll make him put up a months worth of security deposit.

quote:

considering it's the kind of place where it's perfectly legal to charge people more if they don't want you walking in with no notice in the final month of the lease.

No it's not lol.

# ¿ Jan 5, 2018 03:44

Harry: Jun 13, 2003; I do solemnly swear that in the year 2015 I will theorycraft my wallet as well as my WoW

NancyPants posted:

edit:

I work in the apartment industry in Texas. The standard lease (TAA) does state 24 hour notice. And when I say standard lease, I mean what every apartment complex uses. A complex can opt to remove that though. HDD 91 must be dealing with a private landlord who added his own thing. If so, don't agree to something you don't like.

quote:

Yeah I have no idea what he's talking about with the second bit, but you'll definitely be blackballed out of several to most options (depeending on demand) if you have a broken lease in your rental history. I don't think it completely cuts you out off the shittiest options, but it can be a serious obstacle depending on your needs and circumstances.

Nope. If you owe money to the complex and don't pay it, it will show on your credit if they report it. Nobody cares if you break a lease. If you plan on not paying, you just lease a place first.

Harry fucked around with this message at 05:30 on Jan 5, 2018

# ¿ Jan 5, 2018 05:24

Harry: Jun 13, 2003; I do solemnly swear that in the year 2015 I will theorycraft my wallet as well as my WoW

SlyFrog posted:

No, the person flippantly saying "broken leases don't matter" is just an idiot.

There is a registry that landlords use to check whether people have broken leases in the past. It can be extremely difficult to find someone to lease to you if you have previously broken a lease. You generally have to find some individual owner, as the property management companies and such of the world will just reject you out of hand.

I know this, first hand, because I have a friend who broke a lease a few years back (well, she claims she did not really break it, but in any event, the landlord claims she did), and now she can't even get to the explanation stage in trying to find a new apartment. The landlords/management companies just reject her out of hand, because of the broken lease.

She is currently renting from an individual who owns a lovely, poorly kept-up building, in a somewhat sketchy part of town, at a grossly inflated price. She considers herself lucky to have found that, having been just rejected out of hand from so many other places.

I am far from a bleeding heart liberal, but it is one of the things that has opened my eyes to how we do tend to have systems in this country that have the perverse outcome of preventing people from really getting back on their feet. (I don't need to hear the counterpoint about how landlords need to charge extra to protect themselves from the credit risk of someone who has previously displayed a willingness to walk away from a lease. I am aware the issue is nuanced.)

It depends what you mean by "breaking a lease". There's provisions for leaving a lease such as an early termination fee because it happens all the time. What does get reported is if you don't pay the remaining balance/fees. The landlord might have said she broke the lease, and then reported the lack of payment for an early termination fee. Now if she just flat out abandoned the property and the landlord evicted her, then it shows up in public records.

Harry fucked around with this message at 19:55 on Jan 5, 2018

# ¿ Jan 5, 2018 19:34

Harry: Jun 13, 2003; I do solemnly swear that in the year 2015 I will theorycraft my wallet as well as my WoW

Trustworthy posted:

A public highway having an explicit "rich people get to drive faster" lane is maybe the most Texas thing I've ever heard

Poors have nowhere to be so why let them slow down productive people?

# ¿ Jan 6, 2018 15:38

Harry: Jun 13, 2003; I do solemnly swear that in the year 2015 I will theorycraft my wallet as well as my WoW

Higgy posted:

Some BWM content:

I still have not received my $27000 wire reversal from GDAX and it's been almost 40 days.

What's with the responses? Is everyone in there trolls? It seemed much more shitposty than I would have thought.

# ¿ Jan 9, 2018 02:37

Harry: Jun 13, 2003; I do solemnly swear that in the year 2015 I will theorycraft my wallet as well as my WoW

Phanatic posted:

The Bible is BWM:

An IRA is unChristian. Those cousins know what's up.

Not even close to what it's saying.

# ¿ Jan 10, 2018 04:31

Harry: Jun 13, 2003; I do solemnly swear that in the year 2015 I will theorycraft my wallet as well as my WoW

Moneyball posted:

Was he betting against the stock market or something?

Has to be biotechs.

# ¿ Jan 12, 2018 04:56

Harry: Jun 13, 2003; I do solemnly swear that in the year 2015 I will theorycraft my wallet as well as my WoW

I've always found it interesting that people chase after lovely little companies like this instead of doing basically anything else.

# ¿ Jan 13, 2018 06:32

Harry: Jun 13, 2003; I do solemnly swear that in the year 2015 I will theorycraft my wallet as well as my WoW

I would say that first sentence explains everything.

# ¿ Jan 15, 2018 20:10

Harry: Jun 13, 2003; I do solemnly swear that in the year 2015 I will theorycraft my wallet as well as my WoW

Good Parmesan posted:

Same guy

https://www.reddit.com/r/personalfinance/comments/3yka0v/boa_lawyers_declined_my_settlement_offer_not_sure/

Some people are just really bad at negotiating. There's no reason for BoA to ever take that offer unless they knew he just couldn't pay it, and now he's not wanting to show them that he can't pay it.

Other news, this really makes you think

Harry fucked around with this message at 05:08 on Jan 17, 2018

# ¿ Jan 17, 2018 05:02

Harry: Jun 13, 2003; I do solemnly swear that in the year 2015 I will theorycraft my wallet as well as my WoW

Youth Decay posted:

https://www.reddit.com/r/financialindependence/comments/7rb02k/is_fire_still_possible_working_only_30_hours_a/

She has a decent gig but she isn't going to retire early off of a $48k inheritance + investments in weed and funny-money.

FI is an interesting subreddit because half of them are so desperate to stop working they reach for crap like this thinking that will be enough, while the other half are so risk averse they chart out 0% real returns.

# ¿ Jan 19, 2018 03:34

Harry: Jun 13, 2003; I do solemnly swear that in the year 2015 I will theorycraft my wallet as well as my WoW

Barry posted:

Also OP:

I mean, why stop at $20M when you're just making poo poo up? How about $200M?

If you it makes you feel better he lost like $800k the day after he posted it, and is still down $500-600k.

# ¿ Jan 19, 2018 18:20

Harry: Jun 13, 2003; I do solemnly swear that in the year 2015 I will theorycraft my wallet as well as my WoW

Is the power buy post still around? The one where some guy was going to end up paying something like $45,000 for a lease on a $25,000 car?

# ¿ Jan 28, 2018 04:29

Harry: Jun 13, 2003; I do solemnly swear that in the year 2015 I will theorycraft my wallet as well as my WoW

That's the one. It looks like the contract is gone though.

# ¿ Jan 28, 2018 04:39

Harry: Jun 13, 2003; I do solemnly swear that in the year 2015 I will theorycraft my wallet as well as my WoW

Lead out in cuffs posted:

Yeah, Johannesburg metro area has about four times as many people in it as when your manager was a kid, and even the cleanest, most regulated municipality in the world is going to have trouble keeping the reservoirs 100% clean under that level of population growth. Your manager is just a racist old white rear end in a top hat, as are most of your "thank gently caress I don't live there anymore" friends.

JFC dude, this is literally a dumb marketing stunt by a cell phone company, and they are talking 5kg of water per passenger. No need to completely sperg out about it.

https://www.businesslive.co.za/bd/national/science-and-environment/2017-12-11-travellers-to-fly-jozi-water-to-thirsty-cape-town-on-friday/

Quadrupling over 50 years is not some impossible to mitigate scenario.

# ¿ Jan 30, 2018 20:59

Harry: Jun 13, 2003; I do solemnly swear that in the year 2015 I will theorycraft my wallet as well as my WoW

FrozenVent posted:

Sailboats in good condition don't usually just lose their keel and capsize, unless you run into the rocks at ludicrous speed.

What if you go into 8ft of water?

# ¿ Feb 10, 2018 18:51

Harry: Jun 13, 2003; I do solemnly swear that in the year 2015 I will theorycraft my wallet as well as my WoW

XIV and SVXY are the gifts that keeps on giving. Long story short, massive gains in 2017 then 80% drop in February.

https://www.bogleheads.org/forum/viewtopic.php?f=2&t=241547&sid=7ca2926561da9fb305c2c251ee8c890d

quote:

Made a very stupid decision and decided to trade volatility and VIX. I had SVXY shares on margin and on February 5th, the price fell from $90 to $11 in 15 minutes after hours.

Tdameritrade closed out my positions the next day and now I have a negative $110,000 account balance with them because of the margin. I am yet to hear from them about the balance, but I assume they will have collection agents calling soon.

I've lost everything, completely wiped out close to 500k. I never thought something like this would happen, but I knew the risks and even studied them. I have no one to blame but myself here.

Here is my current financial situation now:

I will owe the IRS and state estimated about $20,000 in taxes for last years 2017 capital gains.
I will owe TDamiertrade $110,000 for my negative account balance.

I am in my 30's and currently have no job, and live with my parents. I have almost no assets except, around 15K cash in the bank right now. My car and almost all my other assets are so valueless that they will be exempt in chapter 7 bankruptcy and I will get to keep them.

The taxes I will owe unfortunately can not be discharged for 3 years so I will have to pay them. I can use my current cash to pay the taxes and will have almost no assets at all that can be taken from me in bankruptcy, I believe I am allowed to keep about 5K in cash.

I would like to know what you guys would do in my situation? Is it best to just claim the chapter 7 bankruptcy and move on with my life, especially considering I have no assets that can be taken from me? This is what I believe I will have to do at this point as paying back $110,000 will take me years if I find work again.

Please offer some advice. I know how I lost my money was stupid and don't need advice on that, I really need to know how to go forward with my life at this point. Should I claim bankruptcy?

# ¿ Feb 14, 2018 02:31

Harry: Jun 13, 2003; I do solemnly swear that in the year 2015 I will theorycraft my wallet as well as my WoW

BattleMoose posted:

http://www.news.com.au/finance/work/former-anz-boss-tracey-lee-cook-sentenced-over-300k-scam/news-story/b40a62ee77d472f77dace89dd7950ec6

This is such a beautiful combination of being very BWL and BWM. Household income 500k+ so she steals 300k+ from her employer and gets jailed.

quote:

According to the Manhattan U.S. Attorney�s Office, Yan used inside information about Linklaters client Sibanye Gold�s $2.2 billion acquisition of Stillwater Mining in 2016 to buy stock options in Stillwater. His wife had worked on the Sibanye transaction. Yan then off-loaded his stock options on the day the deal was announced, for a profit of more than $100,000.

Just in case you're wondering salary wise, these two were grossing 300k at the absolute low end.

# ¿ Feb 17, 2018 22:34

Harry: Jun 13, 2003; I do solemnly swear that in the year 2015 I will theorycraft my wallet as well as my WoW

Krispy Wafer posted:

Didn't Dodd-Frank make C-level executives responsible again for their company's financial reports? Like they couldn't just say, "I didn't know". At least as easily or effectively as before.

Although, I don't know how much of that the GOP has repealed. Probably most of the good stuff.

Sarbanes Oxley did that. One of the first people charged because of it joined an all black church, got a black lawyer, and made sure to get a black majority jury. I believe the lawyer compared it to a government funded lynching as well. He was acquitted while all his executives plead guilty and took a deal.

Harry fucked around with this message at 15:48 on Feb 18, 2018

# ¿ Feb 18, 2018 15:38

Harry: Jun 13, 2003; I do solemnly swear that in the year 2015 I will theorycraft my wallet as well as my WoW

Parents good with money?

https://www.reddit.com/r/relationships/comments/7z7v1l/husband_27m_has_been_resentful_of_me_25f_because/

quote:

We had a budget set for a wedding with me, my parents, him, and his parents all contributing a certain amount. With a month left to go, a lot of the vendors started calling to make sure we could all pay up. Unfortunately, we had a lot of bad luck strike us. His dad needed emergency surgery, which caused them to bow out of their contributions. My parents for some reason were shocked by how much they owed and stated they couldn't afford to pay for all of it. And this was despite the fact he had a spreadsheet detailing how much they would owe with them going "Yeah, no problem".

It's not like he had this money sitting in his bank account. He had to sell off all his investments, while also pulling from his emergency fund (he likes to hangout in Personal Finance). His original goal was to let these investments keep growing so that we could one day get a house. As a result, we were barely able to scrape by the wedding with only a couple hundred bucks to our name.

It's been one month now and he's still really bitter about it all. Our honeymoon was been indefinitely delayed. He doesn't like to think about the wedding. He doesn't like my parents at all. And he even ends up placing blame on me for wanting this "super expensive wedding" and not being able to see that my parents would pull this card on us. All he says is "focus on saving your money".

We're in a better position than we were after the wedding. We both have jobs, we don't have post wedding debt. It's just a matter of us building our savings back up, but I think what burns him the most is that he got blindsided. He now feels like he has to start all over into what he had initially put 5 years of investing into.

I'm not sure what I can do at this point. Should I just continue to give him space, or is there a certain point where he has to get over it? I just feel lost about what I can do.

tl;dr: Husband had to sell all his investments and use up all his savings to pay up for wedding, because of bad luck. He's been bitter since.

Gee like why doesn't he just get over it?

# ¿ Feb 21, 2018 22:33

Harry: Jun 13, 2003; I do solemnly swear that in the year 2015 I will theorycraft my wallet as well as my WoW

please knock Mom! posted:

I love the thought process. Instead of scaling back the wedding due to insufficient funds, dig into emergency funds and long-term investments to pay for it.

Parents probably got the bill a week before the wedding and were like "lol gently caress that" Shame they didn't have the decency to fake a major illness they need surgery for.

# ¿ Feb 21, 2018 22:51

Harry: Jun 13, 2003; I do solemnly swear that in the year 2015 I will theorycraft my wallet as well as my WoW

GoGoGadgetChris posted:

He had no idea she wanted this wedding so bad, and she had no idea he wanted to buy a house

Like she was actually calling it a success that they're coming out of this without any "Post wedding debt", lol

They're not on the same financial page at ALL

It was for her. She got her wedding at the expense of his premarital assets and now they can rebuild "together".

# ¿ Feb 21, 2018 23:44

Harry: Jun 13, 2003; I do solemnly swear that in the year 2015 I will theorycraft my wallet as well as my WoW

GoGoGadgetChris posted:

Oh, you know what I mean. She sucks big time for putting her own needs so far ahead of her husband's, but there's nothing inherently wrong with spending Whatyouthinkisacceptableforawedding + $N

A big fancy wedding can be important to people for many reasons other than "LOOK AT ME!!"

It's pretty funny how hard you are justifying her actions, and her parents.

# ¿ Feb 22, 2018 00:56

Harry: Jun 13, 2003; I do solemnly swear that in the year 2015 I will theorycraft my wallet as well as my WoW

GoGoGadgetChris posted:

Many of her actions are inexcusable and I've never said one word about her parents. What on earth are you talking about?

"Some people really love weddings, nothing wrong with that! This is a miscommunication issue! They just aren't on the same page! Oh wow reddit doesn't like women, they want her to pay back the money!" You're trying your hardest to deflect blame from her.

# ¿ Feb 22, 2018 01:00

Harry: Jun 13, 2003; I do solemnly swear that in the year 2015 I will theorycraft my wallet as well as my WoW

GoGoGadgetChris posted:

Incorrect my friend. She deserves at least 50% of the blame and I've never said anything to indicate she deserves anything less.

I also never said anything about "they want her to pay back the money", so I don't know what to say in regards to that. Did you get confused about what part of "You can offer to work more to make up for the money your "princess-for-a-day" event cost (and channel every penny into investments... not Jimmy Choo's or Prada handbags), but he might go either way" I thought was deplorable?

Quit being retarded. Every post you made definitely was putting as little blame as you could on her.

# ¿ Feb 22, 2018 01:33

Harry: Jun 13, 2003; I do solemnly swear that in the year 2015 I will theorycraft my wallet as well as my WoW

Home schooling will probably become more popular among the upper middle class as homes in urban areas become even more expensive, and online home school courses become more robust.

# ¿ Mar 5, 2018 00:17

Harry: Jun 13, 2003; I do solemnly swear that in the year 2015 I will theorycraft my wallet as well as my WoW

BEHOLD: MY CAPE posted:

It will become less popular IMO as vouchering and using 529 plans for rich people to funnel tax free money into primary education make private schools more appealing and cost competitive

edit: I just want to expound on the above to comment that these things are so bad for public education that we are going to hit a tipping point of affluent flight of students and resources from public schools in many places where it will be just irresponsible to send your children to public school if you have any choice in the matter

I would think 529 plans will make private schools even more expensive. Dallas proper right now is some kind of perfect storm of high home prices, extremely poor public schools, and expensive private schools.

# ¿ Mar 5, 2018 01:04

Harry: Jun 13, 2003; I do solemnly swear that in the year 2015 I will theorycraft my wallet as well as my WoW

last laugh posted:

Sports BWM:

https://twitter.com/darrenrovell/status/974849311069691905

Someone on r/options did some kind of reverse iron condor risking $10,000 for $400 and blew up his account last week.

# ¿ Mar 18, 2018 17:23

Harry: Jun 13, 2003; I do solemnly swear that in the year 2015 I will theorycraft my wallet as well as my WoW

There's an occasional gem from Bogleheads. Shame Fatwallet is closed down, since this guy was definitely on there at some point. On the brightside, they probably did save him 2%.

quote:

So, Merrill Edge sold all of my ETFs without my consent. They provided me notice about a month ago they were closing my CMA(Taxable Brokerage) account so I transferred that to another firm, but they never provided any notice about my IRA. I found out this morning that the liquidated all of my positions yesterday. I complained this morning but they basically told me to pound sand.

I've already filed complaints with the SEC, FINRA and CFPB. Any other recommendations on next steps? I've already put in paperwork to transfer to a different firm but I'm still steamed beyond no end on about this.

quote:

Right now it is down, but that may change by the time it gets over to TDAM.

Likely was some minor MS on a BOA CC that caused this. Haven't made a single trade in my Merrill accounts in the past 6 months.

But really, isn't it illegal to sell without consent? And not providing notice?

Someone looked at his post history:

quote:

"Yikes, I've been using Ally as my primary "hub" for all my bonuses and MS since Fido shut me down last year. I too use this as my account for everything and keep a hefty balance. But, there is quite a lot moving in and out between different places, recently started using billpay as I'm hoping they don't frown upon that. Seriously there are better ways to ML like real estate. Its a shame that normal people that have a side hobby get caught up in this nonsense."

Guessing he'll be banned from TDAM in a year.

# ¿ Mar 25, 2018 20:47

Adbot: ADBOT LOVES YOU

# ¿ May 5, 2024 11:43

Harry: Jun 13, 2003; I do solemnly swear that in the year 2015 I will theorycraft my wallet as well as my WoW

Enchanted Hat posted:

It's an accountant who thinks that you can make money by borrowing at 4% and investing at 3%, I'm going to get out my pitchfork, drat it!

What are the standards for becoming a CPA in the US, can you do it through some kind of online diploma mill or do you just send in a registration sheet filled in with crayons?

It's difficult, but the thing to keep in mind with accounting and the CPA exam is it's remembering a bunch of rules, not extrapolating information from numbers. The heaviest finance stuff it gets into is the quick ratio.

# ¿ Apr 12, 2018 23:41

The Something Awful Forums > Discussion > Ask/Tell > Business, Finance, and Careers > Bad With Money 2018: When I die, bury me in the blockchain.

«‹›4 »