Let's talk about money - The Finance Thread


#2101

Bitcoin is pretty useful in countries where their default currency such garbage its better to buy into crypto then hold their native currency and watch it loss value. Kinda like gold in a way.

That being said, the value is in the technology of the coin and the only thing Bitcoin has is name. The transaction fees are large (10-15 USD) and long transfers (1 hour+).
I dont have any bitcoin and holding on to alt coins myself. Holding:

QTUM -Got in at 13USD, Forking with Bitcoin on Jan 2. Could be the next "Bitcoin"
SALT -Building a platform to have a pseudo credit leveraging with crypto only.
ZRX -Etheruem based focusing on Smart contract technology; Seeing how ETH value is on smart contracts but dont have anything else past crypto kitties…
EMC -Russian play. Seems to want to have an all in one media spot thing. Got in at 1USD


#2102

So you should be rich @FreezingCicada when QTUM jumps…


#2103

$TEUM took off today


#2104

Pending Cali legalization had cannabis stocks going bananas today. Account up another ~20% since Christmas(!). Seems like everyone been talking about this ish with they extended families at the holiday dinner table, hahaa. Probably not a good idea to chase but rather rotate into the laggards at this point. I am scared of a major sel-the-news style correction after the new year and I am not going to be able to monitor my account on the 2nd so I am going to trim US tickers heavy this Friday going into the holiday. It seems like the weed plays are pulling from the pool of crypto$ stock traders. Canadian plays still on that bubble. Starting to see mainstream coverage now too.


#2105

MJX has all my weed needs. Bought 5 shares of them, and I also heard Canadian weed stocks are doing well. Weed looks great moving forward lol.


#2106

YOyoyoyoyyoyoyoyoyo…crazycrvazycfrayz
my account blew through 200%
MJ everywhere on mainstream $$$ straight pouring in; people seem to think this is the next crypto
I dont think so, I wouldl be cautious, awaiting a correction, I wouldnt be surprised if this is a quick rally, but enjoying hte ride right now. I keep selling and my account keeps spitting out more money than i take out

… and after their recent restructuring MJX seems to have some decent holdings right now. I got off holding ETFs long, too many losses due to contango. I dont know if that is something inherent to all etfs or not; dont know enough about it. Any input from anyone on the contango effects?


#2107

@hubcapsignstop damn son, you raking in dem $$$!

So what’s everyone’s predictions this year? My thoughts:
-Bitcoin will be a hot topic now that other nations are getting in on the action.
-More shenanigans will stem from that new tax bill now that folks actually have time to review what exactly was passed…
-Big Data security/privacy: the Equifax mess will be a basis to many changes


#2108

is this “ripple” shit real?? what is the worst case scenario if I were to buy say $500 worth?

I am not familiar with all this crypto stuff but I am a quick learner. also I hear its a pretty good time to buy bitcoin now? market crashed or whatever recently…


#2109

for long term, only invest in index funds. you cannot beat the market. no one can, except warren buffet, ray dalio and a few others. studies show expert stock pickers perform no better than randomly picking stocks over the long term. index funds are the key (ETF are also good they’re basically the same thing). set it and forget it, but make sure you have good liquid cash reserves for opportunities that come up

crypto - i gambled a few thousand - only gamble what u can afford to lose. i dollar cost average and diversify across various cryptos. this way doesn’t matter if it goes up or down im slowly building up cryptos and because i got multiple, one of them should win after 10 years. and only buy crypto if you have the stomach for it. like 30-50% drops should not faze you at all. long term i think its gonna be good. like during end of year, some liberal big government scrubs were screaming “DONT BUY BITCOIN” and i was like “lul wrong nub” and they were saying how its gonna crash and tulips blahblahblah. sure enough the drop stopped and its fine. it could crash more but who gives a shit. 10 years. my biggest regret is in 2010 i wanted to buy bitcoin but backed off due to fake news. back then i already thought krugman was a moron who was advocating TARP, QE, big government and debt, and the fact he hates crypto now makes me smile more. people are sick of central banks running shit and want deregulation and sick of inflation wiping out their savings. ray dalio, a genius has a more balanced view. he thinks its in a bubble now but long term crypto is here to stay and is a good legit investment

i think i will snap up some ripple next - just buy like 1k worth and hold for like 10 years, retire on an island


#2110

Honestly I like to think it is relying on proper due diligence as I continue to learn regarding spotting undervalued companies (fundamentals) and relevant technical signatures but I guess I am fine being called lucky… my tiny account has gone straight greenhulk (I do realize that rallies like this are the exception rather than the norm - but I believe there are more to come in the future tied to particular scheduled events).

I have to qualify my previous comments on MJX above; the MJX etf is not a play on the Cali/US legalization, its holdings are mostly canadian (most of them quality), with some biotech (which can be considered anti legalization plays themselves), and peripheral tobacco ish, etc. And in this bull market the performance of this particular ETF is a bit abismal: Up 0.5% today in the middle of a currently insane, irrationally euphoric rally. Look at the gains in its biggest holdings for today, management fees dont cost that much, something is not right. I see no reason to dip into this type of etf unless your broker is stopping you from trading OTC joints or the Canadian (foreign) grey market tickers.

Regarding Contango effects, it seems my problem was holding leveraged commodity ETFs (this was what I gravitated to when I first got into trading because this looked like a nice way to play the commodities/futures market as if they were stocks). It didnt take long to see the effects and how my ETF was not pegged to the associated commodity in the way that I thought it should have been. I assume the effect is less obvious with nonleveraged ETFs but I would expect it to be present nonetheless. Definitely wouldnt recommend setting it and forgetting it regarding commodity ETFs, unless you know something I dont. If you are investing long (rather than a quick trade) make sure you know the holdings of the ETF you are getting into as I am not sure this is a sound way to diversify. Also index funds are for pansies, grow a pair and put some skin in this game hahaa


#2111

I’m up big on MJX, added some more shares when it dipped for the easiest $500+ I have ever made in my life lmao. IGC and SMG are other plays to look at as well, but I think MJX contains IGC iirc. Weed is booming, get on the train while you can.

My 2018 predictions:

  • A crash is unlikely, unless a major catalyst triggers the event (WW3, natural disaster, etc.)
  • A huge correction is VERY likely, just a matter of when. Protect your portfolios folks.
  • Banks will be solid this year because of the Tax Reform, so jump in on those.
  • Apple will reach a trillion dollar market cap by the end of the year.
  • Amazon buying Target should not be ruled out. It’s pretty clear they have kept their eye on Walmarts/Shopify e-commerce, which is steadily improving.
  • Netflix will find a better business model. They don’t really have a choice, go live or die. Also Disney is starting to catch up with them, not a good sign.
  • The bubble pops on Tesla. You guys were right, this stock is garbage lol.
  • Oil will continue to do well under Donald Trump
  • AMD spikes up around 15-20 dollars
  • The interest holds around Bitcoin, but I’m hearing that other cryptos are getting a hard look as well.

#2112

I opened a secret bank account 4 months ago…I’ve saved $21k so far! Should have done this a long time ago.

Im thinking of taking some of that & putting it into cripto…Maybe 1k…Is there any maintenance or i can i just set it & forget it. What about taxes and stuff?


#2113

nope, index funds are by definition going to give market returns in the long term (10-20 year), whereas vast number of studies and data show that people who are not named buffet, soros, dalio, lynch etc do not. that list of people is very small. the only way you can beat the market is if you are wallstreet, and even then every so often the american taxpayer bails you out. its funny you mention “skin in the game” because the guy who popularized that, nassim taleb, wrote “fooled by randomness” where he talks about how even many of the traders that he worked with were dumbasses who got lucky, until they got blown up. not to be confused by “random walk down wallstreet” which talks about modelling finances with random walks, but also draws same conclusion that you’re not going to fucking beat the market. conclusion: index funds


#2114

Intel’s Response to Its Security Problem Suggests AMD Has an Opening

https://www.finviz.com/chart.ashx?t=AMD&ty=c&ta=1&p=d&s=l

AMD doing AMD things for the past 3 days lol


#2115

Ripple is pumped. Someone purchased 450 billion worth of ripple when it was 1 dollar. https://gab.ai/PoliticsGhost/posts/17022890
And another 750 Billion XRP when it dipped after the 2.50- 3 dollar highs. If you want to gamble you could buy in an see if you can squeeze out 3.50- 4dollars for the short term.
Ripple doenst have anything behind it past being a coin and has some banking companies buying into it.
https://coinmarketcap.com/currencies/ripple/ Current price 3.36 atm.

I’m still long on QTUM and SALT.
QTUM: you get monthly airdrops of UBTC (United Bitcoin) at the 25th of every month from 2018-2019 for stake holding in the ignition wallet.
SALT: there was fake news from another crypto trying to do the same thing as salt so the price dipped from from the 16-17 highs to 11-12. Still when the platform launched there was 300billion worth of loans wanted to be taken out.


#2116

All the weed stocks took a dip today. Anyone buying those dips?


#2117

I was honestly getting terrified with how crazy the rally was getting. I am going to wait it out right now. Sessions gave investors a reason to take profits and added strong layer of uncertainty to the sector and I wouldnt be surprised if this kills the rally dead. I eventually think in the long run this will get sorted out but I am on the sidelines right now regarding the US weed tickers. I am still holding Canadian (some are up 5X), but I am going to see what happens tomorrow and decide how much I want to trim. I hope everything works out with MJX. Good luck.

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?


#2118

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.

*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.


#2119

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.


#2120

Word. Good luck yall, I plan to amass 100K these next 4 years. As long as we remain in a bull market, then I think that feat is possible. Be smart. Protect your portfolios, and remember, scared money don’t make money. Sometimes you need to take risk, because the bigger the risk then more the reward. I’m in my early 30s and I definitely need to be taking risk, because when you get older you won’t have the option to do that.

Peace.