Investing General Discussion
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Hateyou
Not Great, Not Terrible
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Falstaff
Ahn'Qiraj Raider
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You should put your cash in a 6mo CD, at least you'll earn half a percent instead of .001% or whatever.
Rajaah
Honorable Member
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The game is rigged. It's the insiders and hedge funds making bank off of folks like me losing 20% of my COIN buy on days like this. Sure, regular people can make money and we've got lots here who do, but it doesn't change the fact that the table itself is rigged to make sure the house always wins.
On a lighter note,
Lightning Lord Rule
can we change my board title to "Paperhands McGee" please
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Or at the very least, to beat a dead horse, why not some below or near NAV SPACs instead of cash?
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Umm, you can do that yourself. Just buy a title change item.The game is rigged. It's the insiders and hedge funds making bank off of folks like me losing 20% of my COIN buy on days like this. Sure, regular people can make money and we've got lots here who do, but it doesn't change the fact that the table itself is rigged to make sure the house always wins.
On a lighter note,
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Sanrith Descartes
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If you have done any research on the company you think it might have a future long term then hold it. If you are looking for SPAC flips for quick bucks then wait for a pop and sell it. I like the company personally and continue to see near the money puts because I wont be upset if I get it back (I sold it for a 100% gain a while back). That being said, I dont think this is a 30 or 40 dollar company right now. I like it in the 16 - 20 range until I see earnings.
Rajaah
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BTNB, XPOA, GSAH. In that order. In my n00b opinion.
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Sanrith Descartes
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This three are usually the first steps. Not surprisingly, most Americans cant/won't reach the 401k annual cap (19.5k), let alone the Roth plus HSA caps. Start there.
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Rajaah
Honorable Member
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Oh okay, thought it was a mod request thing.
16-20 sounds about right. Not crazy about it going below 19 and it fell more today. The research I did do on it told me it was well worth it and had nowhere to go but up given the new administration's focus on EVs. And for a few weeks after said new administration got going, it was the ONLY stock I had in the green. So seeing it tank like this is completely unexpected. I think it has great long-term possibilities, but by then it's going to have a lot more competition in the EV space than it does now. The numbers are showing me a very low level of confidence from investors, which tells me my own LAZR confidence is misplaced.
SPACs and cryptos, that's what I'm sticking to now. Even in surging cryptos it might take me a bit to recoup all of my stock market losses since January, because with LAZR now shitting the bed, that loss # is higher than I expected to say the least.
Sanrith Descartes
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COIN was a direct listing I believe. The people who made money off of you were employees and other investors who say the valuation and knew this was a sucker play. That being said, the question you need to be asking yourself is why you thought COIN was a 100 billion dollar company and bought those shares. If you dont have a good answer then you shouldn't have been buying. The consensus in this thread was avoid like the plague.The game is rigged. It's the insiders and hedge funds making bank off of folks like me losing 20% of my COIN buy on days like this. Sure, regular people can make money and we've got lots here who do, but it doesn't change the fact that the table itself is rigged to make sure the house always wins.
On a lighter note,
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Rangoth
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I have to contradict this a little. Go check out the bitcoin thread on my little experiment. I'll admit I have no idea if this will last long term and I'm also not truly confident the site will not be hacked or whatever, but I am earning 5%-12% depending on the asset.
I only put ~=500$ in because I too am skeptical, but I figured it was worth a try because why not earn coin interest on a coin literally sitting around doing nothing? And it *IS* working.
Full disclosure: only been at it a week but I am earning compounding interest on all my coins. True crypto coins give 5% interest(or 4% at low "loyalty" level) and coins connected to real money, like USDC give 10%.
For even more fun: I took out a 50$ loan to test this because I swore I was reading it incorrectly, but it is also working. I borrowed 50$ in USDC coin, using my Stellar Lumins as collateral, at an interest rate of 5.9% annually. I then kept that 50$ in USDC in Nexo where it immediately starting earning 10% lol
So there is a little graph where every day I watch what I owe increase by the daily % of 5.9 and every day what I earned goes up by my USDC daily % of 10%. It's actually comical, but I guess that's really only a 4.9% gain so not really better than the stock market on average. Is a neat experiment anyway.
However, looks like coinbase is dropping down to low 300$(327$ as I write this) glad I didn't try to hop on the wagon with this one though I think I may purchase it once I see it settle as I do believe the company doesn't have to do much but exist and not fuck up to be profitable.
Hateyou
Not Great, Not Terrible
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Yeah retail gains are pretty paltry compared to what hedge funds and insider politicians can make, but I don’t think it’s as rigged as you say. This thread you’re in the sentiment on COIN, was Don’t fucking buy it, it’s going to be obviously overpriced, wait for it to calm down, etc. Due diligence on that company shows it’s worth nowhere near what the opening price was. You can’t let FOMO lead to a basically gambling approach to trading then say it’s rigged when you didn’t strike it rich. I do bare minimum DD usually because I spread my stuff out so much, COIN was pretty easy to see it wasn’t going to the moon like you’d hoped. How many IPOs do retail traders strike it rich on opening day? Probably pretty close to zero unless you’re playing with millions already.The game is rigged. It's the insiders and hedge funds making bank off of folks like me losing 20% of my COIN buy on days like this. Sure, regular people can make money and we've got lots here who do, but it doesn't change the fact that the table itself is rigged to make sure the house always wins.
On a lighter note,
If you really want COIN long term, wait a few weeks or months for it to calm it’s tits and see where it lands so you have actual data to base your decision on.
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Blazin
Creative Title
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Sanrith Descartes
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Stocks go up and stocks go down. It is the nature of the market. This is amplified with high beta stocks like growth and especially pre-revenue growth stocks. AAPL was down like 20% a month ago. I bought more. When you believe in a company and want to own it, look at dips as reasons to add more, not reasons to sell. But you have to understand and believe in the company. Ask
Blazin
how he was feeling about LMT when it went sub-$330 a month or two ago. Its back sniffing around $400 now. I added and was rewarded for it. Same with NVDA when it was down around $475 not too long ago.
Rajaah
Honorable Member
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My prediction was that it would see first-day surges/gains based off of the massive hype surrounding it, THEN drop down into a more reasonable price range. I never thought COIN was a 100 billion dollar company, but I did expect enough other people to buy in based on FOMO and whatever other factors to push it upwards for at least a few hours.
In other words, that initial spike in the first 15 minutes, I expected to go on for longer. Maybe with an early dip from the "get in and get out" crowd followed by another bounce upwards. Figured that by the afternoon, or perhaps tomorrow morning, it'd be in freefall as everyone made their profits / realized how overvalued it was and jumped ship.
Instead we just skipped to the "freefall" part 15 minutes in.
It's the first stock launch I've ever been present for and it was pretty exciting, at least. Was absolutely a sucker play though. I tried to game it out like a Football score and it didn't work.
Sanrith Descartes
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PLTR - Like I said that spike was pure fund bullshit to get out of their calls in the $25 - $26 range before they expired worthless on Friday. The sold all their worthless calls and then dumped all the shares they bought with investor money bring PLTR right back where it was on on Friday.
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Jysin
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Most people who make enough to cap 401k are over the income limits for Roth IRA contributions. (Unless they are mega thrifty putting a sizable portion of their income in that 401k)
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Sanrith Descartes
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You initial ideas might have been ok and worked 6 months ago. The current market is not a friendly place right now like it was back then.
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Rangoth
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Ohh I am not promoting it as a get rich quick scheme, and I think the 10% for USDC numbers will drop as the company gains traction and attracts more users, but I do think that the 4-5% of crypto coin will stay and is legit.
Maybe I'm a putz but I actually believe in and like the concept. Basically decentralized loans. The core concept isn't much different than going to a bank for a loan, if anything the current model is a bit better as you *must* have collateral with Nuxo via any type of coin or real-USD. Make an account, put 0 coins in you can borrow 0$. But if you had(estimated numbers) 1k in crypto you could borrow 750$ dollars. The borrow amount per crypto value is different for each coin. Actually the more I think about it the more it's like borrowing against your 401k or something. If you don't pay back they take your crypto or whatever.
But the loan is decentralized, so the "money" comes from thousands of people instead of one big bank and 5.9% isn't that bad for what is essentially a personal loan.
Anyway I think the concept is neat though my overall trust in the situation is lowish at the moment hence my low stake @ 500$. I planned on leaving it for about 6 months and if things look good I may consider moving some real money there via my ETH/BTC investments.