OT: Stock and Investment Thread
- Thread starter RU05
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When the market goes down for essentially no reason, it normally means big ups coming soon. Added nicely to a few items just before the bell.
It crashed before, only to rise like a phoenix. HA!
But sooner or later the WSB crew has to give up, right?
Rise like Kevin Bacon lifting his head during the Omega initiation as he says "Thank you sir may I have another."
People here own bitcoin and TSLA. I think the talk on each is way overdone as well, but at least there is actually some ownership.
Outside of Jtung possibly having a short position, this is merely you going on and on about a stock no one cares about.
It was a good day. Knew it was coming but just didn’t know when. I’m more interested to see what happens tomorrow.
Of course. Bitcoin gains and losses are treated the same way as stocks.
This is funny coming from you. But yes, you are buying based on the technology. I should say the potential of the technology.
I believe the limit is the offset against ordinary income ($3k annually) but no limit with respect to an offset of capital gains, right?
yes, if you have capital gains to write them off against. The losses above $3k are carried forward.
Guy I know is basically the three index fund investor. He sold—not Exactly at the bottom of 3/23/20– but close. Then bought back funds that were not “substantially identical” so as to avoid a wash-sale. He got the upside and capital loses to offset gains or income for several years to come. I don’t jump in and out of the market and am not smart enough to market time but this was good for him..
SPACs had a rough couple of days. I read a few days ago the 35% of spacs were trading below par, that could be up to 50% now. I also saw three SPACs that went live yesterday are all under water. Looks like the beginning of the end for the SPAC craze.
If a better option presents itself, I will look into it. Rumors that when/if the SEC starts to allow BTC ETFs that Grayscale will automatically allow Trust investors to convert. They recently hired 9 ETF experts to prepare for the transition.
I have to admit, I love Matterport and its technology. I think it is already a game-changer for the real estate, construction, and architectural markets and a potential high-margin business. Unfortunately, it is going public via a SPAC (GHVI). I researched this a bit and 70% of stocks lose value once the merger is complete. I have it on my watch list, but will wait until the dust settles.
Switching gears a bit, what advice do you all have on using a financial advisor? I've typically managed my own investments but should probably have some help at some point to make sure I'm not missing anything. Financial advisors keep contacting me on linkedin and anywhere else they can find me, but not interested in handing it over to someone. Thinking maybe just some guidance from a fee only advisor but seems like that could run up a nice bill quickly. Any thoughts/experiences?
SPACs are great for those running the SPAC but terrible for investors. I’ve seen a stat that the historic median investor return on SPACs is -29.1%.
I don't know anything about Matterport but I wouldn't dismiss it just because its a SPAC. Since most investors buy and sell based on what is the hot dot at the moment, there is a good chance you can pick it up at a discount. They key to evaluating these is looking at the who is promoting it. Some of these teams are just flat out bad people and have been doing these types of pump and dump schemes their whole career. Just stay away from them.
Next thing to look at is the deal the promoters are giving themselves. Getting 20% of the shares, warrants worth up to 1/3 of the shares (that they get to keep even if they sell their shares) and flexibility to put back their shares at par are just some of things I have heard of. Those are insane terms for the investors and you unlikely to ever make money. Stay away from those as well.
Unfortunately neither of these things have anything to do with the quality of the target company which could be solid.
I’ve always managed my own investments. During the early years of my investing journey I used Fidelity reps to fill in any knowledge gaps. But I did a ton of research on my own. Never found a need to pay an advisor beyond the general services I received through Fidelity. You would be surprised what you can learn just by calling your brokerage firm and asking questions. With that said, if you want a sanity check it may make sense to pay an advisor to review your portfolio. I have a buddy that uses an advisor that charges him on an hourly basis. It costs him a few hundred bucks here and there but helps him sleep at night knowing he isn’t missing something critical.
There are just too many of them. I don't want to say there are lots of good companies, but there are lots of interesting investment options amongst them. Higher risk for sure, but interesting companies with good potential for future earnings. But when 10 new ones hop in every day, many of them very similar, they are no longer coming in with any juice.
I think waiting till the dust settles is the right call. Could be some very good looking deals at some point.
I'm too cheap. Which probably equates to penny wise pound foolish. But as Aldo says above, you can probably do your own research if your willing to put in the work.
I've never actually shorted a stock, so I don't even know how, and I'm a little wary of the process.
Fast Money did note some unusual options activity with GME(the guy noted there is always unusual activity with GME) but someone bought like 8000 of the April something calls at a $800 strike price. Maybe whoever bought it is just a nut, but maybe something worth watching.
SEC looking into the recent SPAC Attack!