Let's talk about money - The Finance Thread

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  • NinetiesArcadeNinetiesArcade Joined: Posts: 1,546
    My last contribution to this thread. I don't have a forex account but figured it'd be useful for niggas who do currency trading.

    24/7 live stream :wow: :wow: Makes sense since more country are getting in on this thing.




    Good luck homies! :tup:
    =============================================================
    "I put Soleil Moon Frye's breast reduction up with the Holocaust and Khmer Rouge purge as one of THE most senseless tragedies of the 20th Century." Return of Shiki.
    'Racism, that's the name of the game
    And you couldn't escape that if you was David Blaine
    Know what I'm sayin?' -Junk Science, House Wigger

  • kimterrankimterran THE SMILING Joined: Posts: 5,838
    What do you guys use to buy different Cryptocurrencies? Binance is closed for registration so I signed up with kucoin? Any experience from there?
    FC 4656-7253-6641, add me for dat Poke mans
  • EphidelEphidel 02 OG Joined: Posts: 15,067 ✭✭✭✭✭ OG
    If there's an finance link on srk discord, or if anybody plans to make one, then I would be down to join
    Fightcade: Ephidel
    Steam: Ephidel
    Discord: Ephidel
  • hubcapsignstophubcapsignstop my structure is so dirty Joined: Posts: 1,456 ✭✭✭✭✭ OG
    edited January 9
    And by definition an index fund does not give market returns due to the management fees involved, so I guess we are all, indeed, just destined to underperform as you said. How miserable? hahaa

    No, this is the key for an index fund: Because it simply buys stocks that are part of the index it costs very little to run. Vanguard, the pioneer of the index fund, has an expense ratio of 0.04% for its S&P 500 index fund.* A targeted mutual fund with a slew of analysts and more active administration will have expenses an order of magnitude higher, and while those analysts can be a benefit for the gross return, the higher expenses tend to eat up the gain.
    hahaa- I know the fees are small, but they exist. The premise of my 'joke' is still valid
    *Full disclosure: This is their "admiral" class fund that has a higher minimum investment. The expenses are a bit higher for their "investor" class fund with a lower minimum investment. But we're talking about long-term holdings here. If you want to play with $100 trying to guess what will happen this week, whatever, knock yourself out.
    $100? What is that going to do? I used to think I was risk averse, but apparently I am an unhinged wildman. DIVERSIFICATION IS FOR COWARDS! hahaa
    If GD truly shuts down end of month, I wish everyone a financially stable life. I hope everyone hits retirement age with enough $$ to live comfortably.
    I 2nd this
    I came here to try and learn some stuff (in trying to achieve what 90sarcade wished everyone above) and to also have some date stamped record of the calls I was making. I called this cali legalization rally (I wasnt the only one) and I imagined it ending the first day of trading after the new year, however it gave us a couple extra days and probably wouldve continued to rally through the month if it wasnt for the DOJ recinding the Cole memo. I went ALL IN on this with my account and made a killing. I planned on popping in to call future rallies (because i intend on doing the same again) and had hoped I would be able to be of some service to others if I built a track record of relaying these rally calls, but it looks like I wont be able to do that. I think there is far too much uncertainty right now in the US market to see out in the future. Alternate plays regarding the US weed sector would be the biotech cannabinoids, somewhat-related tobacco plays, and Cannadian LPs. I went in heavy on the Canadian laggards monday (ORGMF and EMMBF) and still have a sizeable cash position. I am applied for a margin account so I could do some swing trades in the US tickers (I likely wouldnt sleep well holding these overnight). Once I see the opportunity in this sector diminish I plan on exiting completely into cash (or maybe Fish's index funds hahaa) and regroup for the next opportunity. I firmly believe there are real opportunities to research, make money and beat the market, it is just that these opportunities arent necessarily omnipresent.

    Good luck. Nice meeting y'all.
    Peace



    Post edited by hubcapsignstop on
    megaprops to toyrobotterror for avatar gullysh*t
  • PerthoPertho Capt of Team #Hellspawn Joined: Posts: 22,819 mod
    Ephidel wrote: »
    If there's an finance link on srk discord, or if anybody plans to make one, then I would be down to join

    I can make you guys a channel. brb, doing it for the official discord. Link is in the sticky.
    Ronin Chaos on Pertho:

    "Oh, Pertho. You complete me."
    jimmy1200 wrote: »
    pertho attacked me first, saying i get all my life tips from 106th and park.
  • fishjiefishjie no Joined: Posts: 4,943 ✭✭✭✭✭ OG
    edited January 9
    hahaa, you are certainly the archetypical, know-it-all GD poster. Thanks for pouring water all over my parade, but the point of my comment about skin in the game was that this is a game, and what is the fun in picking an index fund. Stop having a boring thread, stop having a boring life; do some homework have some conviction and put yourself out there. hahaa It is a new game for me that I am betting that I can learn and win at by putting my $ where my mouth is because I love a challenge and enjoy busting the curve. But I will be honest where I lose. And by definition an index fund does not give market returns due to the management fees involved, so I guess we are all, indeed, just destined to underperform as you said. How miserable? hahaa

    I have a question for you Fish: Which index fund would be my best bet to quadruple my money and what would be a reasonable estimate for how long I would have to hold to achieve this?

    hub, real talk i am going to miss arguing with you - religion, politics, and now index funds. you're right i am an insufferable know it all asshole - and you are correct to call me out on it. no homo i wish we could hangout in real life and argue

    alright here is my know it all response:

    index funds have the lowest fees - because they're passively tracking the market - esp the vanguard ones, so no, your point about management fees only applies to mutual funds, which are indeed a scam

    boring life? cmon dude my life has not been boring. do i need to replay my greatest hits? all i'm saying is that index funds are great - you set it and forget it so you don't have to constantly worry about it, and long term you are guaranteed to do well. you just have to be able to have the discipline not to freak out if theres a recession and your portfolio drops 50% or whatever, but instead see it as an opportunity to buy up even more at a huge discount. so here's my boring strat for anyone interested -

    - have emergency fund that can last you a year or two of living expenses if you get fired
    - have an additional cash reserve fund in hella boring places like banks/money market funds where yes you will lose money due to inflation (right now i'm only earning 1.25% APY in savings), but what this buys you liquidity if you see a pretty decent gamble you can take - foreclosed real estate, crypto, hella cheap stock (decade ago msft was at 25$ so i bought a bunch as a gamble). key tho is you don't risk your emergency fund, and you only gamble what you can afford to lose. like i put some money in crypto and even if they all go to 0 (i dont think they will) it will sting but it will be ok life goes on
    - rest in index funds
    - max out your 401k, beyond their matching contribution, it will help with taxes - it lowers your taxable income, don't let the greedy government get it
    - contribute to a roth ira if you can, because guarantee the feds will raise taxes by a shit ton by the time we retire due to their fiscal irresponsibility

    qudruple investment - you can use the rule of 72. s&p 500 ***ON AVERAGE*** returns about 10% a year - but of course some year it drops by a shit ton. so let's just say 8% a year - so rule of 72 says it will double after 9 years, so after 18 years it will quadruple. vanguard is the best cause its got lowest fees. now as a know it all i predict you're gonna response that you quadrupled your money this year. and i would totally believe you. if you can quadruple your money every year the next 10 years you would be an investing god and i would bow down. all i ask is that you buy shoryuken.com and keep it alive. gonna miss you buddy!
    Nicky's methods of betting weren't scientific, but they worked. When he won, he collected. When he lost, he told the bookies to go fuck themselves. I mean, what were they going to do, muscle Nicky? Nicky was the muscle
  • fishjiefishjie no Joined: Posts: 4,943 ✭✭✭✭✭ OG
    prediction - i believe we are in for another bubble popping. irresponsible obama and his QE and bailouts basically inflated the market big time, propping it up, and the feds added fuel to the fire by keeping interest at 0% for so goddamn long. banks are even bigger now. i think the next big catalyst for explosion is the student loan bubble. students have over a TRILLION in debt, and are incapable of paying it back since feminist studies graduates find nobody wants to hire their dumbasses and so they work at starbucks, meanwhile these student loans are being repackaged and sold, just like the real estate bubble.

    so careful out there. i think gold and crypto are good place to hide. but remember, once bubble pops and market crashes, it will be perfect time to buy up everything at huge discounts. its then that even buying individual stocks would be good, pick a company with a strong brand with good leadership that you know will do well in the long term, but whose price dropped only due to recession/correction/depression whatevers and there's a good chance you'll make a killing. but again only gamble what you can afford to lose. rest in index funds
    Nicky's methods of betting weren't scientific, but they worked. When he won, he collected. When he lost, he told the bookies to go fuck themselves. I mean, what were they going to do, muscle Nicky? Nicky was the muscle
  • Ken34Ken34 a.k.a Mashima Taichi Joined: Posts: 7,196 ✭✭✭✭✭ OG
    fishjie wrote: »
    prediction - i believe we are in for another bubble popping. irresponsible obama and his QE and bailouts basically inflated the market big time, propping it up, and the feds added fuel to the fire by keeping interest at 0% for so goddamn long. banks are even bigger now. i think the next big catalyst for explosion is the student loan bubble. students have over a TRILLION in debt, and are incapable of paying it back since feminist studies graduates find nobody wants to hire their dumbasses and so they work at starbucks, meanwhile these student loans are being repackaged and sold, just like the real estate bubble.

    so careful out there. i think gold and crypto are good place to hide. but remember, once bubble pops and market crashes, it will be perfect time to buy up everything at huge discounts. its then that even buying individual stocks would be good, pick a company with a strong brand with good leadership that you know will do well in the long term, but whose price dropped only due to recession/correction/depression whatevers and there's a good chance you'll make a killing. but again only gamble what you can afford to lose. rest in index funds

    pretty much the fundamentals here, well said sir.

    and i am also in the camp of believing student loans is the next big thing.
    "True Strength is something Money and Credit cards cannot buy"
  • truendymiontruendymion Beer Me! Joined: Posts: 2,280
    See yalls on Reddit finance!
    I'm making a fighting game!
    SRK thread - Discord server.
  • EphidelEphidel 02 OG Joined: Posts: 15,067 ✭✭✭✭✭ OG
    I got friend that has set aside like $15K for the next great crash. 2012 prices on average down? Sweet!
    Fightcade: Ephidel
    Steam: Ephidel
    Discord: Ephidel
  • StarhammerStarhammer The Laughing Man of SRK. Joined: Posts: 20,780 ✭✭✭✭✭ OG
    Ephidel wrote: »
    I got friend that has set aside like $15K for the next great crash. 2012 prices on average down? Sweet!

    yep. Got 10k waiting and most likely will have even more when the hammer finally falls. I really wish These damn coins were easier to get at though. Bitcoin, litecoin? Yeah you can snatch them up easy enough. Outside of Coinbase, I can't seem to reach any place where I can get the good gold mines. Still, the search continues.

    -Starhammer-
    Always think it's strange when black dudes accuse other black dudes of not being hood enough. Like isn't that a good thing?

    AV by Rick Ross.
  • fishjiefishjie no Joined: Posts: 4,943 ✭✭✭✭✭ OG
    get in on the ripple! they just a few dollars and you can use binance. buy a few hundred coins, and even if they go to 0 you've lost nothing. but if they shoot to 100 or 1000 ????? PROFIT!!!!
    Nicky's methods of betting weren't scientific, but they worked. When he won, he collected. When he lost, he told the bookies to go fuck themselves. I mean, what were they going to do, muscle Nicky? Nicky was the muscle
  • EphidelEphidel 02 OG Joined: Posts: 15,067 ✭✭✭✭✭ OG
    I sold MJX high a couple of days ago. Weed is just not doing all that stellar right now, it's time to move the profits somewhere else.

    So right now I want to focus on stacking my dividends. I have two that pay me about $36 monthly, and I plan on adding to my T shares. Pays a great dividend of about 0.50 cents.
    Fightcade: Ephidel
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  • Jion_WansuJion_Wansu Joined: Posts: 6,380
    Starhammer wrote: »
    Ephidel wrote: »
    I got friend that has set aside like $15K for the next great crash. 2012 prices on average down? Sweet!

    yep. Got 10k waiting and most likely will have even more when the hammer finally falls. I really wish These damn coins were easier to get at though. Bitcoin, litecoin? Yeah you can snatch them up easy enough. Outside of Coinbase, I can't seem to reach any place where I can get the good gold mines. Still, the search continues.

    -Starhammer-

    these digi coins are scams; they too new...
  • EphidelEphidel 02 OG Joined: Posts: 15,067 ✭✭✭✭✭ OG
    These 3 day weekends be killing my wallet lol. I need to just say fuck it, learn some crypto, and make money everyday.
    Fightcade: Ephidel
    Steam: Ephidel
    Discord: Ephidel
  • hubcapsignstophubcapsignstop my structure is so dirty Joined: Posts: 1,456 ✭✭✭✭✭ OG
    edited 1:39PM
    i enjoyed that nice/quick end-of-this-world lovefest...
    yes, US weed stock seem to be danger at this point until the federal situation evolves - I am 100% out of US weed stocks for now. Even volume in the Canadians is dropping off, I trimmed heavily the superhigh valuation Canada tickers and am betting on a correction soon (today?) but really not sure since these Canadians have been defying all expectation lately (birth of a new industry can do that i suppose), we will see. I am still long on the Canadians however and expect even higher highs (rally) this summer. Trying to gauge short term trader psychology is a (humbling) trip
    megaprops to toyrobotterror for avatar gullysh*t

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