Boiler Room: The Official Stock Market Discussion

[Serious]

Yeah. E-trade has a "gains and losses" tab, so what I do is look at my gains for the year and multiply that by my estimated tax rate. That way, the tax bill won't come as a shock to me because I already have a general idea what its going to be.



I thought that the speculation was that this was a hoax?

When the movie "Chronicle" came out, as a form of promotion they were flying remote controlled drones shaped like people. Since this is LA I would not be surprised if its promotion for some new movie:

I saw another report that said its real but its short lived and supposed to be limited in how high it can go.

 

[Insensitive]

@FabTrey @Insensitive they don't want to hear it.

It sounds too much like bootrapism

yup.
Before people even start earning more money they need to track where it's going and
what they're doing with it.

I personally use MINT&Fidelity together and I try (not perfectly admittedly) to track my funds, where they're going, what
I'm ultimately spending money on and I do daily&weekly looks at my investments, debts, networth etc.
Even at $15 an hour people can save some nice sums of money.


For example, my younger brother refused to budget and he said "I can't do it".
So I took some tips from "Automatic millionaire" and essentially forced him to budget.
Two years later, he's got 10k in his 401k, his car is largely paid down etc.

I think people obviously need personal accountability and they need to try to take control of their situation but at the same time, I
also feel that "Bootstrap" talk can be detrimental to addressing problems of inequality in our society.

I won't front though, I know many people who don't even have basic levels of financial literacy.
I'm talking young women working two jobs, making roughly $15 an hour (at both !), damn near doing 80 hr work
weeks every week and still winding up broke with no savings whatsoever, an empty 401K and bills piling up.
At that point, before we talk about societies ills those individuals need to address their lack of impulse control
and blatant consumerism/materialism. These same people will call others "broke" with no clue how broke they actually
are.

 

[Serious]

A couple books I'm reading:
[The Basics] Philip Corr, Anke Plagnol - Behavioral Economics_ The Basics (2019, Routledge_Taylor & Francis)
[The Basics] Philip Corr, Anke Plagnol - Behavioral Economics_ The Basics (2019, Routledge_Taylor & Francis) - libgen.lc.pdf (2.09MB) - SendSpace.com

&
Stephen Wendel - Designing for Behavior Change_ Applying Psychology and Behavioral Economics (2020, OREILLY MEDIA) - libgen.lc (1).epub
Download multiple files from Sendspace.com - send big files the easy way



From my research and understanding behavioral economics will be the next big thing.


Basically the premise is the stock market is really a mental game. It's about controlling whether your pessimistic or optimistic about something. A person's mental tolerance can dictate how they'll handle situations. In relation to the stock market, this will determine whether someone panics or buys the dip....

Remember stock price isn't a direct reflection of have a company is doing. A company can be generating awesome revenue and the stock price may not immediately budge or even decline.

The Co-Founder of LMND is super big on Behavioral Economics.

 

[Serious]

Sounds like the shyt I have to constantly explain on here as well.

I guess I better do a job of blocking out the noise, moving forward.

 

[Serious]

Chamath hits the nail on the coffin:


Political Dysfunction.

This is exactly why I sold out of blnk early. CEO was an a$$hole.

 

[Serious]

Talking about SpaceX / Starlink

 

[NatiboyB]

has anyone compared Pure Storage (PSTG) to Dropbox (DBX) to Apex (APXT). I have a 15% position in my M1 that I want to fill with one of these and I see that ARK is heavy on PSTG but DBX seems popular and APXT has potential to increase. or should I just toss that 15% at TSLA which is already 38% of my total portfolio

 

[mannyrs13]

anyone getting a big bill from the taxman? says i realized about 17k in gains this year

i know someone put up like 100k or something ridiculous

Most my gains this year been in my IRA and Roth IRA so not worried about taxes on those accounts for a long time. My gains in crypto I still am holding and hopefully any quick trades I did even out with any losses. Same with any stock gains especially these penny stocks. I feel like I'm gonna get a ton of paperwork tho with so many different accounts and income sources. Might be drowning in 1099s. Hopefully I can avoid paying much or any taxes by offsetting some losses and deductions.

 

[Insensitive]

Chamath hits the nail on the coffin:


Political Dysfunction.

This is exactly why I sold out of blnk early. CEO was an a$$hole.

I have to disagree with this guy here.
Elon Musk was completely focused on meeting his financial goals.

It wasn't about "political correctness" or "political incorrectness", this was a billionaire mouthing off on twitter
about the state hampering his focus on reaching specific business goals. His employees be damned.

We have to remember that this guy pretty much operates like a sociopath, completely unblinkered by
the feelings of others. His own damn BLACK employees went out of their way to mention the
rampant racism at the very factory which was shut down and he basically said "Tough shyt".


Menial Tasks, Slurs and Swastikas: Many Black Workers at Tesla Say They Faced Racism (Published 2018)

https://www.newequipment.com/indust...59587/updated-tesla-responds-to-racism-claims

Elon Musk says Tesla will 'immediately' leave California after coronavirus shutdowns forced the company to close its main car factory

Some Tesla factory employees say they're being pressured to return to work

I work in a similar environment (with considerably less racism) but I don't have the option of work from home
which resulted in me returning right back to work with "safety measures" in place. I feel the same damn
way about how the leadership handled it at my job. Stock prices may be doing well but employee morale not so much.

 

[Saysumthinfunnymike]

Nah..I bought them in Feb, so I'm close enough to having them for a full year that I might as well hold them long enough to qualify for log term capital gains. I figure that lower tax rates are worth the chance of a crash in the next two months. They're deep in the money, so the market would have to fall a long long way for QQQ to drop below 238. Plus, I would rather add the gains to next year's taxes anyway.

whatever you do don't take the advice of that poster

 

[Saysumthinfunnymike]

Talking about SpaceX / Starlink

the two YouTube goats linked up?

 

[morris]

@13:20 explains pumps and dumps; @23:30 explains China stocks; @33:45 SPAC's; @49:45 hedging your portfolio (a bit advanced topic)

@RiGGA

 

[old pig]

this market has me hating the weekends especially long weekends

 

[old pig]

*post deleted*

 

[dora_da_destroyer]

this market has me hating the weekends especially long weekends