Boiler Room: The Official Stock Market Discussion

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I cashed out of my major mutual fund account this week... don't think there's much more upside and a lot more downside in the near future

:manny:
 

ill

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American Express is dead. Did you guys see that new Chase card? The Sapphire Reserved? The rewards/perks are ridiculous.

Chase Sapphire Reserve Review and Application Link

Just got approved on this earlier. Moved my points into the new account. Should have around $3000 in free travel once I get the bonus. I dont know how the fukk they make money off of this, but AmEx is never going to be able to compete long-term with their cost of funding.

What do you mean by moved your points? Do they allow you to move your Amex miles over to the new Chase card?

Card looks interesting. My Amex gives me a free companion flight on Delta every year but outside of that, this card looks great. 100k bonus is sweet af.
 
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What do you mean by moved your points? Do they allow you to move your Amex miles over to the new Chase card?

Card looks interesting. My Amex gives me a free companion flight on Delta every year but outside of that, this card looks great. 100k bonus is sweet af.
I moved my Sapphire Preferred points in the Sapphire Reserve account. When you redeem points with travel, they are worth 1.5x with Reserve instead of Preferred which are 1.25x, so I was pleasantly surprised they let me do it.
 
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That makes sense. I was thinking you transferred Amex points over.
No, I just mentioned Amex to comment on the long-run prospects of their business, given the point of the thread. I'm just not seeing how they can compete in the card space.

Their closed network goes give them a big advantage when it comes to them growing their small-to-mid business lending platform, but we will see how effectively they are able to roll this out. I'm just not seeing the value proposition being as strong as it used to be.
 
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Domingo Halliburton

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China has to be massively short the dollar with these forward contracts right? I know it looks like they're not burning through a bunch of reserves right now with these contracts... But they're essentially just selling dollars to buy yuan.
 

Bernie Madoff

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American Express is dead. Did you guys see that new Chase card? The Sapphire Reserved? The rewards/perks are ridiculous.

Chase Sapphire Reserve Review and Application Link

Just got approved on this earlier. Moved my points into the new account. Should have around $3000 in free travel once I get the bonus. I dont know how the fukk they make money off of this, but AmEx is never going to be able to compete long-term with their cost of funding.
is odd that AMEX would dilute it's brand by doing the prepaid accounts with SERVE.
 

Bernie Madoff

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I hit a major milestone today brehs.. bank accounts exceeded 100k and that's not even including investments

:to:

And the house has appreciated 80k in the past year

:mjcry:

I'm on my way to retiring.
giphy.gif
 
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