High Roller Casino
Stern, 2001Quoted from BMore-Pinball:I am an investor, not a trader so I disagree - bad job report during normal times would mean companies are not hiring due to stagnant or declining business
The business is there, the demand for jobs is there - people willing to fill them is not
You’re right. There are a lot of shitty jobs out there. Corporate America might have to start trying harder.
Quoted from Deaconblooze:Well that's a gross generalization of 72m Americans..
I guess I fall into the Millenial category. I'm 36. I graduated with a BBA in 2009, one of the worst job market in recent history.
Anyway... I learned really early that the absolute best thing I could do for myself was manage my finances in a way that allowed me to exist on basically any income as soon as possible. I paid off my student loans and squirreled away as much cash as I could from wages/bonuses as I watched competent colleagues get canned around me. I got to a point where my future was financially secure, and I left for a more stable and less stressful gig that paid less than half of what I had been making (albeit with much better benefits).
My current plan is to retire at 55, but it doesn't necessarily mean I will. I'll continue to work in some capacity as long as I enjoy what I'm doing and I feel I'm being valued in my position.
I think I'm part of the most financially-aware generation since 'the greatest generation'. There's a huge wealth gap, and employees are increasingly expendable. We have a finite amount of time on this planet, and I've come to realize that I don't want to spend more of it than I need to lining someone else's pockets. I want to spend as much time as I can with my family and friends, and be financially independent. If that means I need to forego the newest car or a JJP super-secret-CE, I'm totally fine with that.
So yes, I want to work, but I don't want to ever be chained to a desk living paycheck to paycheck. And I think that's typical of the generation. No one I know is leaving their jobs while they're in debt without any savings. I do know plenty of people that have rejected archaic office environments and have made a conscious effort to live below their means. I don't see anything wrong with that, and I think successful businesses will find ways to create more flexible work arrangements.
this. This. THIS.
I’m sure a bunch of absurdly over-compensated C-suite executives would be applauding too, if they didn’t have to drop their money to do it.
Look at the market! Companies could make things better. But they don’t.
The discussion about Millennials, FIRE, etc. etc is fascinating to me because it is so out of the frame of my mindset. I am by no means judging, but it is just eyeopening to see what motivates different people. I sincerely appreciate the folks sharing their experiences, and in that same spirit, will share mine. Consider it a different opinion. It is by no means right or wrong.
I am soon to be 44 and grew up hard, so that always frames my mindset. When I was finishing up college (poor kid on an academic full ride), I set some financial goals of where I wanted to be at certain ages. I did not set non-financial goals, which in hindsight, was a lack of maturity and being myopic. The good news is that I blew through my goals fairly early and then the oh-shit moment happened: What do I do next? This is actually a fairly scary moment in your life (at least it was for me) and it took me a while to get oriented. To make a long, personal epic short, my wife and I decided that we wanted more in life. Some people will misconstrue this as material in nature, but it was about having a more fulfilling life based upon our interests. We also wanted it now, in the prime of our life, as opposed to our late 60's. I wanted to set the foundation for multi-generational wealth so that my daughter's kids would not have to worry about school. This meant working even harder and taking calculated risks. Who knows what the future holds, but I know that I am doing everything possible to tip the odds even further in my favor.
As a Generation X'er, in the 90's you always heard about people selling out to the Man. Nobody wanted to be a sellout. Of course, as you get older, your perceptions change. To borrow a catchphrase from Seth Rollins, I didn't sell out; I bought in.
I see people talk about saving more, but very rarely talking about making more. This always intrigues me. My thought is as opposed to relying upon only spending a certain percentage of savings, I am going to focus on stacking it deep and piling it high. I think this is what also motivates me to be a student of the markets and to put in the effort that I do: to make that money work harder for me. I think asymmetrically, which is a military concept that is beginning to permeate some areas of business. Some interesting areas of reading there if you are interested.
Now this does not mean it is all roses for me. I will probably work longer (was going to anyway because I love what I do), and it puts more pressure on me to perform. I have learned through a lot of trial and error to separate work time from family time, but I am always on. Use whatever trite analogy that you like about golden handcuffs, gilded cages, etc that you like, but to live the lifestyle that I want and at the level that I want, I have to keep working. My profession tends to make high performers mercenary in nature, which means that I will switch jobs every few years. In the last 6 years I traded suits for jeans and sports coats for most meetings, and in non Covid times my office is my Jeep, Seat 10C, or my home office. I haven't had an official office in 10 years, but my home office is better equipped than most office spaces. Days start early and can end whenever. I have flexibility in my schedule but when things pop up, I have to be there. But in my analysis, the juice is worth the squeeze for my family and me. Everybody has to make that decision for themselves.
In the sales and performance coaching arenas, people often use the clip from the movie "Glengarry Glen Ross" as a litmus test of sorts. I am including it below. It is very NSFW from a language perspective, so consider that. The setup: people are selling timeshares and not having a lot of success. The main office sends in their top performer to give a pep talk. There have been a lot of academic and analytical papers written about this scene and how people react to it. Broadly, people fit into two categories after watching it: they are motivated beyond everything to go take the hill or they are shocked and appalled. Curious to people's reactions, particularly younger folks that probably have not seen the movie.
Again, thank you for indulging me. I wish everybody continued success.
Quoted from DBLM:The discussion about Millennials, FIRE, etc. etc is fascinating to me because it is so out of the frame of my mindset. I am by no means judging, but it is just eyeopening to see what motivates different people. I sincerely appreciate the folks sharing their experiences, and in that same spirit, will share mine. Consider it a different opinion. It is by no means right or wrong.
I am soon to be 44 and grew up hard, so that always frames my mindset. When I was finishing up college (poor kid on an academic full ride), I set some financial goals of where I wanted to be at certain ages. I did not set non-financial goals, which in hindsight, was a lack of maturity and being myopic. The good news is that I blew through my goals fairly early and then the oh-shit moment happened: What do I do next? This is actually a fairly scary moment in your life (at least it was for me) and it took me a while to get oriented. To make a long, personal epic short, my wife and I decided that we wanted more in life. Some people will misconstrue this as material in nature, but it was about having a more fulfilling life based upon our interests. We also wanted it now, in the prime of our life, as opposed to our late 60's. I wanted to set the foundation for multi-generational wealth so that my daughter's kids would not have to worry about school. This meant working even harder and taking calculated risks. Who knows what the future holds, but I know that I am doing everything possible to tip the odds even further in my favor.
As a Generation X'er, in the 90's you always heard about people selling out to the Man. Nobody wanted to be a sellout. Of course, as you get older, your perceptions change. To borrow a catchphrase from Seth Rollins, I didn't sell out; I bought in.
I see people talk about saving more, but very rarely talking about making more. This always intrigues me. My thought is as opposed to relying upon only spending a certain percentage of savings, I am going to focus on stacking it deep and piling it high. I think this is what also motivates me to be a student of the markets and to put in the effort that I do: to make that money work harder for me. I think asymmetrically, which is a military concept that is beginning to permeate some areas of business. Some interesting areas of reading there if you are interested.
Now this does not mean it is all roses for me. I will probably work longer (was going to anyway because I love what I do), and it puts more pressure on me to perform. I have learned through a lot of trial and error to separate work time from family time, but I am always on. Use whatever trite analogy that you like about golden handcuffs, gilded cages, etc that you like, but to live the lifestyle that I want and at the level that I want, I have to keep working. My profession tends to make high performers mercenary in nature, which means that I will switch jobs every few years. In the last 6 years I traded suits for jeans and sports coats for most meetings, and in non Covid times my office is my Jeep, Seat 10C, or my home office. I haven't had an official office in 10 years, but my home office is better equipped than most office spaces. Days start early and can end whenever. I have flexibility in my schedule but when things pop up, I have to be there. But in my analysis, the juice is worth the squeeze for my family and me. Everybody has to make that decision for themselves.
In the sales and performance coaching arenas, people often use the clip from the movie "Glengarry Glen Ross" as a litmus test of sorts. I am including it below. It is very NSFW from a language perspective, so consider that. The setup: people are selling timeshares and not having a lot of success. The main office sends in their top performer to give a pep talk. There have been a lot of academic and analytical papers written about this scene and how people react to it. Broadly, people fit into two categories after watching it: they are motivated beyond everything to go take the hill or they are shocked and appalled. Curious to people's reactions, particularly younger folks that probably have not seen the movie.
Again, thank you for indulging me. I wish everybody continued success.
Is the idea that the GGR scene motivates people to “take the hill” because some people feel that the end justifies the means? That’s an excuse some rich people make to justify bad behavior. In my opinion, of course. You can “make” and “produce” just fine without throwing a C note in the middle of the floor and firing whoever doesn’t grab it first. In fact, I’d argue that you can do it far more effectively in ways that benefit more people more equitably. But that’s another topic.
Now, where to put my freaking cash? I’ve been about 25% out of the market for 8 months and naturally feel I missed out some good gains. But I also suspect this is not the time to get back in. I’ll probably feel that way watching the next 20% increase in the market. Inertia sucks.
Quoted from TheFamilyArcade:Is the idea that the GGR scene motivates people to “take the hill” because some people feel that the end justifies the means? That’s an excuse some rich people make to justify bad behavior. In my opinion, of course. You can “make” and “produce” just fine without throwing a C note in the middle of the floor and firing whoever doesn’t grab it first. In fact, I’d argue that you can do it far more effectively in ways that benefit more people more equitably. But that’s another topic.
Now, where to put my freaking cash? I’ve been about 25% out of the market for 8 months and naturally feel I missed out some good gains. But I also suspect this is not the time to get back in. I’ll probably feel that way watching the next 20% increase in the market. Inertia sucks.
The answer that you gave does not correlate to the high performer answer based upon the studies. Will leave the question out for a day or two before I give the answer.
I think people fall into 2 categories. The doers and the followers. So, the motivated people are "the doers" and they get re-energized and perform. The appalled people are "the followers" and never had the gumption to perform anyways, so they bail.
From DBLM
"There have been a lot of academic and analytical papers written about this scene and how people react to it. Broadly, people fit into two categories after watching it: they are motivated beyond everything to go take the hill or they are shocked and appalled. Curious to people's reactions, particularly younger folks that probably have not seen the movie."
Quoted from DadofTwins:I think people fall into 2 categories. The doers and the followers. So, the motivated people are "the doers" and they get re-energized and perform. The appalled people are "the followers" and never had the gumption to perform anyways, so they bail.
From DBLM
"There have been a lot of academic and analytical papers written about this scene and how people react to it. Broadly, people fit into two categories after watching it: they are motivated beyond everything to go take the hill or they are shocked and appalled. Curious to people's reactions, particularly younger folks that probably have not seen the movie."
You are on the right path. There has been all type of academic studies that break down the various salesmen personalities in the movie and they come to a similar conclusion. This is more from a literature/visual art sense. Look at it from a motivational sense. The whole key to this scene is about from the 50 second mark to the one minute 21 second mark. Rewatch that section.
Quoted from Roostking:Yea and im not even trying to blame pins. I got caught up in the hype and didnt really see how opening up would impact. I feel its going to fall pretty far now that i am using my rational mind.
Honestly, this one is one where I looked at the general sentiment where it wasn't just people here saying it was going to go well, but even the pros. My thought is that hanging on and buying more at some point is a good idea. Two things are going to happen, either over the long haul it will go up, or someone will buy them and you end up with a better stock. Unfortunately, who knows what that timeline will be.
The part that killed 'me' was that I had stocks that were up 25-30% and are now down 30% - they all happened at the exact same time. So it was a direct correlation to people moving out of tech/growth. I should have dumped it all, but my mindset was hold long. It still is, but...it's going to be a painful 5 years I think.
Quoted from DBLM:The discussion about Millennials, FIRE, etc. etc is fascinating to me because it is so out of the frame of my mindset. I am by no means judging, but it is just eyeopening to see what motivates different people. I sincerely appreciate the folks sharing their experiences, and in that same spirit, will share mine. Consider it a different opinion. It is by no means right or wrong.
I am soon to be 44 and grew up hard, so that always frames my mindset. When I was finishing up college (poor kid on an academic full ride), I set some financial goals of where I wanted to be at certain ages. I did not set non-financial goals, which in hindsight, was a lack of maturity and being myopic. The good news is that I blew through my goals fairly early and then the oh-shit moment happened: What do I do next? This is actually a fairly scary moment in your life (at least it was for me) and it took me a while to get oriented. To make a long, personal epic short, my wife and I decided that we wanted more in life. Some people will misconstrue this as material in nature, but it was about having a more fulfilling life based upon our interests. We also wanted it now, in the prime of our life, as opposed to our late 60's. I wanted to set the foundation for multi-generational wealth so that my daughter's kids would not have to worry about school. This meant working even harder and taking calculated risks. Who knows what the future holds, but I know that I am doing everything possible to tip the odds even further in my favor.
As a Generation X'er, in the 90's you always heard about people selling out to the Man. Nobody wanted to be a sellout. Of course, as you get older, your perceptions change. To borrow a catchphrase from Seth Rollins, I didn't sell out; I bought in.
I see people talk about saving more, but very rarely talking about making more. This always intrigues me. My thought is as opposed to relying upon only spending a certain percentage of savings, I am going to focus on stacking it deep and piling it high. I think this is what also motivates me to be a student of the markets and to put in the effort that I do: to make that money work harder for me. I think asymmetrically, which is a military concept that is beginning to permeate some areas of business. Some interesting areas of reading there if you are interested.
Now this does not mean it is all roses for me. I will probably work longer (was going to anyway because I love what I do), and it puts more pressure on me to perform. I have learned through a lot of trial and error to separate work time from family time, but I am always on. Use whatever trite analogy that you like about golden handcuffs, gilded cages, etc that you like, but to live the lifestyle that I want and at the level that I want, I have to keep working. My profession tends to make high performers mercenary in nature, which means that I will switch jobs every few years. In the last 6 years I traded suits for jeans and sports coats for most meetings, and in non Covid times my office is my Jeep, Seat 10C, or my home office. I haven't had an official office in 10 years, but my home office is better equipped than most office spaces. Days start early and can end whenever. I have flexibility in my schedule but when things pop up, I have to be there. But in my analysis, the juice is worth the squeeze for my family and me. Everybody has to make that decision for themselves.
In the sales and performance coaching arenas, people often use the clip from the movie "Glengarry Glen Ross" as a litmus test of sorts. I am including it below. It is very NSFW from a language perspective, so consider that. The setup: people are selling timeshares and not having a lot of success. The main office sends in their top performer to give a pep talk. There have been a lot of academic and analytical papers written about this scene and how people react to it. Broadly, people fit into two categories after watching it: they are motivated beyond everything to go take the hill or they are shocked and appalled. Curious to people's reactions, particularly younger folks that probably have not seen the movie.
Again, thank you for indulging me. I wish everybody continued success.
"Put that coffee down...The coffee is for closers! First prize is a Cadillac Eldorado, anybody wants so see what the second prize is? Second prize is steak knives"
A B C
I'm a big fan of Mamet
Quoted from rai:Just came across this.
However it’s not the end of the world but should be a learning moment.
Typically people making get rich quick or die trying plans are young enough to get back up and try again.
[quoted image]
I was reading the comments someone said it wasn’t real just a fake picture that people can make look like they have made or lost money in a brokerage.
Quoted from kvan99:"Put that coffee down...The coffee is for closers! First prize is a Cadillac Eldorado, anybody wants so see what the second prize is? Second prize is steak knives"
A B C
I'm a big fan of Mamet
And to think this was not in the original play. Alec Baldwin was an absolute force of nature in the scene. The other actors play their roles sublimely, particularly Ed Harris.
Quoted from DBLM:And to think this was not in the original play. Alec Baldwin was an absolute force of nature in the scene. The other actors play their roles sublimely, particularly Ed Harris.
Ahh, really? I didn't know that, I remember his first big play that made it out it of Chicago, Sexual Perversity in Chicago, which was then made into a movie with Rob Lowe and Demi Moore....I then saw American Buffalo and the one about the water engine, I think it was called the Prisoner. He liked to work with Campbell Scott and Hope Davis a lot. I also read a lot of Sam Shepard's stuff too, but Mamet was much better.
That Glengarry movie resonated, I was working 2 part time jobs and going to night school when I saw it. it marked the time we lost of our innocence, the idea of working at a company till retirement thing was coming to an end. It was replaced by Boesky's mantra "Greed is Good" The whole Corporate Raiders stuff, LBO and Barbarians at the gate....even politics was changing. Newt Gingrich was coming on the scene... strange times but you know what? If you can make it through that...you can survive anything.
Quoted from kvan99:Ahh, really? I didn't know that, I remember his first big play that made it out it of Chicago, Sexual Perversity in Chicago, which was then made into a movie with Rob Lowe and Demi Moore....I then saw American Buffalo and the one about the water engine, I think it was called the Prisoner. He liked to work with Campbell Scott and Hope Davis a lot. I also read a lot of Sam Shepard's stuff too, but Mamet was much better.
That Glengarry movie resonated, I was working 2 part time jobs and going to night school when I saw it. it marked the time we lost of our innocence, the idea of working at a company till retirement thing was coming to an end. It was replaced by Boesky's mantra "Greed is Good" The whole Corporate Raiders stuff, LBO and Barbarians at the gate....even politics was changing. Newt Gingrich was coming on the scene... strange times but you know what? If you can make it through that...you can survive anything.
Add in Chainsaw Charlie and you have a bingo for late 80’s/ early 90’s greed.
Quoted from DBLM:Add in Chainsaw Charlie and you have a bingo for late 80’s/ early 90’s greed.
Haha, I think it was chainsaw Jack or something. you're talking about the guy who took over Sunbeam? Lol...I know him too.
PS: he was supposedly not bad....he wasn't a raider like the other guys. He was just an astute cost cutter
Quoted from kvan99:Haha, I think it was chainsaw Jack or something. you're talking about the guy who took over Sunbeam? Lol...I know him too.
PS: he was supposedly not bad....he wasn't a raider like the other guys. He was just an astute cost cutter
Chainsaw Al. Actually, he was a horrible exec. He perpetuated massive fraud at Sunbeam and was named one of the worst CEO’s ever.
Quoted from DBLM:Chainsaw Al. Actually, he was a horrible exec. He perpetuated massive fraud at Sunbeam and was named one of the worst CEO’s ever.
https://en.m.wikipedia.org/wiki/Albert_J._Dunlap
Lol what an SOB
Quoted from DBLM:The discussion about Millennials, FIRE, etc. etc is fascinating to me because it is so out of the frame of my mindset. I am by no means judging, but it is just eyeopening to see what motivates different people. I sincerely appreciate the folks sharing their experiences, and in that same spirit, will share mine. Consider it a different opinion. It is by no means right or wrong.
I am soon to be 44 and grew up hard, so that always frames my mindset. When I was finishing up college (poor kid on an academic full ride), I set some financial goals of where I wanted to be at certain ages. I did not set non-financial goals, which in hindsight, was a lack of maturity and being myopic. The good news is that I blew through my goals fairly early and then the oh-shit moment happened: What do I do next? This is actually a fairly scary moment in your life (at least it was for me) and it took me a while to get oriented. To make a long, personal epic short, my wife and I decided that we wanted more in life. Some people will misconstrue this as material in nature, but it was about having a more fulfilling life based upon our interests. We also wanted it now, in the prime of our life, as opposed to our late 60's. I wanted to set the foundation for multi-generational wealth so that my daughter's kids would not have to worry about school. This meant working even harder and taking calculated risks. Who knows what the future holds, but I know that I am doing everything possible to tip the odds even further in my favor.
As a Generation X'er, in the 90's you always heard about people selling out to the Man. Nobody wanted to be a sellout. Of course, as you get older, your perceptions change. To borrow a catchphrase from Seth Rollins, I didn't sell out; I bought in.
I see people talk about saving more, but very rarely talking about making more. This always intrigues me. My thought is as opposed to relying upon only spending a certain percentage of savings, I am going to focus on stacking it deep and piling it high. I think this is what also motivates me to be a student of the markets and to put in the effort that I do: to make that money work harder for me. I think asymmetrically, which is a military concept that is beginning to permeate some areas of business. Some interesting areas of reading there if you are interested.
Now this does not mean it is all roses for me. I will probably work longer (was going to anyway because I love what I do), and it puts more pressure on me to perform. I have learned through a lot of trial and error to separate work time from family time, but I am always on. Use whatever trite analogy that you like about golden handcuffs, gilded cages, etc that you like, but to live the lifestyle that I want and at the level that I want, I have to keep working. My profession tends to make high performers mercenary in nature, which means that I will switch jobs every few years. In the last 6 years I traded suits for jeans and sports coats for most meetings, and in non Covid times my office is my Jeep, Seat 10C, or my home office. I haven't had an official office in 10 years, but my home office is better equipped than most office spaces. Days start early and can end whenever. I have flexibility in my schedule but when things pop up, I have to be there. But in my analysis, the juice is worth the squeeze for my family and me. Everybody has to make that decision for themselves.
In the sales and performance coaching arenas, people often use the clip from the movie "Glengarry Glen Ross" as a litmus test of sorts. I am including it below. It is very NSFW from a language perspective, so consider that. The setup: people are selling timeshares and not having a lot of success. The main office sends in their top performer to give a pep talk. There have been a lot of academic and analytical papers written about this scene and how people react to it. Broadly, people fit into two categories after watching it: they are motivated beyond everything to go take the hill or they are shocked and appalled. Curious to people's reactions, particularly younger folks that probably have not seen the movie.
Again, thank you for indulging me. I wish everybody continued success.
I’ve only been very recently and very casually dipping in and out of this thread.
But I swear this post could have been written by me nearly word for word.
Just replace Jeep with Volt.
And I had to take a pile of loans for school. But have paid them all back.
Anyway. Thanks for sharing your thoughts.
Quoted from rai:Just came across this.
However it’s not the end of the world but should be a learning moment.
Typically people making get rich quick or die trying plans are young enough to get back up and try again.
[quoted image]
I see that and am scared out of my mind. I recently inherited a mid six figures amount of money from my mother. Some is in an IRA so withdrawals are taxed. I’ve invested about half of it for longer term goals (my sons education) in relatively moderate risk. I’m investing into the same market where redditors are YOLOing into individual stocks. It’s just… I feel a tremendous amount of responsibility to make this money so good, and last. How can someone take an inheritance and be so cavalier with it?
The rest of the money is in cash. We’ve spent a small amount (put central air in the house, might renovate some other things). It’s hard, I thought a gift like this would radically change my life. It didn’t. I actually feel worse, like I can only really screw it up. I had up until that point saved $250k of my own retirement for me and my wife, owned a home with decent equity and had made regular 529 contributions. We felt like we were going to roll into retirement doing ok.
I am also holding some of this money for my brothers due to the way my mom left things. It’s really hard to know what to invest in. My friends who know laugh at me, expecting me to buy 20 mint pinball machines. Don’t get me wrong, I love pinball. But it would be crazy to blow through half this in renovations and pinball and other midlife crises.
In the end I am keeping a nontrivial amount in cash for spending and giving to my brothers, and the rest is going into a moderate portfolio, so my son can go to any college he wants. My gambling days, in the market or otherwise, are over.
Spend it on family vacations or other things your family enjoys. If that's pinball, cool. Spend it in your community at local establishments on experiences or items that will last. Make donations to causes that were important to your mom.
Dont let it stress you out. I'm sure that's the last thing she would have wanted.
Pltr ouch !!!!, guess I am gonna have to hold
and wait for the bounce back .but that could take a while. The market just seems to be sliding downward lately
Maybe good time to buy more Sale prices
Quoted from mike200mph:Pltr ouch !!!!, guess I am gonna have to hold
and wait for the bounce back .but that could take a while. The market just seems to be sliding downward lately
Maybe good time to buy more Sale prices
Lots of growth pain. Don’t see any signs of it ending soon. Holding back my remaining capital for foreseeable future.
Pltr earnings call will be...interesting.
Don’t get me wrong, big believer long term. Short term though...ouch.
Quoted from Oaken:Pltr earnings call will be...interesting.
Don’t get me wrong, big believer long term. Short term though...ouch.
Techs are still being sold off....Green on the re-opening names and energy again. They're looking for safe places to park their money. I was thinking the job report would be catalyst to stop the tech slide but the hedgies are not buying it.
Commodities are up again copper and steel up 2.5% uranium down half a percent. Nice to rid of the growth for now.
PFE is my only stock in the green this morning. Up 13% now on the shares I bought in March, up 6% on the shares I bought a month ago. LITE was up until the latest turn in tech stocks, earnings statement on Wednesday.
Quite the drop in TTD today. Wasn't that Iceman's second largest position after PINS? I think I'm going to make a play on it and sell a put expiring Friday.
I shorted 200 QQQ Friday, and covered today. Feels nice to get one right once in a while. Sure feels like there's a lot of downside left in QQQ, but as long as the trillion dollar market cap companies hold up, so will the index.
Quoted from loneacer:Quite the drop in TTD today. Wasn't that Iceman's second largest position after PINS? I think I'm going to make a play on it and sell a put expiring Friday.
I shorted 200 QQQ Friday, and covered today. Feels nice to get one right once in a while. Sure feels like there's a lot of downside left in QQQ, but as long as the trillion dollar market cap companies hold up, so will the index.
Nice, just think, they haven't even signaled that they will raise interest rates....which means there is another leg down coming when they do.
Quoted from loneacer:Quite the drop in TTD today. Wasn't that Iceman's second largest position after PINS? I think I'm going to make a play on it and sell a put expiring Friday.
I shorted 200 QQQ Friday, and covered today. Feels nice to get one right once in a while. Sure feels like there's a lot of downside left in QQQ, but as long as the trillion dollar market cap companies hold up, so will the index.
You can also go long psq which is pretty close to shorting qqq
Quoted from tacshose:My portfolio is down 7% in only what two weeks, jeez. These are days I’m glad I’ve hoarded so much in my 1.5% money market. I don’t think I could ever be 100% in the market.
It's been a nasty ride....I'm hoping next week the sun will peek out.
I can't believe how much some of these have fallen. Too much all at once. Hedge funds trying to create a panic sell-off?
Quoted from DadofTwins:I can't believe how much some of these have fallen. Too much all at once. Hedge funds trying to create a panic sell-off?
I mean frankly a lot of these names deserve to be crushed. Anything that has a profit of zero pretty much has zero justification for its value. There are some good names though that are getting caught up in the downdraft, like ETSY. I like Docusign and Fiverr too but I don't think they have the profits to justify their values as much, as much as I like them there's probably some more downside risk with them. There are probably others too.
The thing that surprises me a lot is how Amazon hasn't moved in like a year.
Quoted from BMore-Pinball:I am an investor, not a trader so I disagree - bad job report during normal times would mean companies are not hiring due to stagnant or declining business
The business is there, the demand for jobs is there - people willing to fill them is not
Why would people want to go back to a job when they can sit home and collect the same money for free? Do you blame them? This will all change in September when the free money stops.
Quoted from 6S3NC3:Why would people want to go back to a job when they can sit home and collect the same money for free? Do you blame them? This will all change in September when the free money stops.
You remember how people for the last 4 years been saying don't believe the media? Let me guess, you were one of them, and now you suddenly believe it because it fits your narrative? Sorry, but it's already been debunked. People who's jobs came back DID go back to work. What is left are shit jobs, or companies who still think you need 15 years of experience to hire. There's many who are still fearful for their health of themselves or others. It's time for corporate america to wake the f up. I can't wait until the oldest generation is gone with their outdated simple minded holier than thou mentalities. I envy the younger generations who don't want to be slaves. Yes there's a fine line between being completely lazy and having work ethic and much of those people have chosen unconventional job paths. Good for them. The rest of the world is still trying to get back to normal and then there's people like you who are more concerned that someone might be getting special treatment. Spend more time worrying about yourself. You are going to get taxed regardless. That ship sailed in 2020.
On top of that economists are crying because the population births is ever increasing in decline. We can't sustain the economy because people aren't spitting out enough kids....really? That's some f'd up priorities right there.
Meanwhile with the impending tax increases, the 1% are trying to find their next 'easy out' to not pay taxes as if all the loopholes they have haven't lowered that number for decades.
And no, this isn't an attack on you specifically. There's been more than a couple of this exact comment here.
Anybody that depends on others for work will surely fail time after time. When work slowed or wasn’t favorable I started my own company. The youth have figured out how to make money streaming video games on Twitch, they can sure figure out how to hustle elsewhere.
The jobs report says everything though, not many people are wanting to go back to work (yet). 266K increase (expectations were 1MIL), far away from 22.4 MIL jobs lost last year
Quoted from thechakapakuni:Anybody that depends on others for work will surely fail time after time. When work slowed or wasn’t favorable I started my own company. The youth have figured out how to make money streaming video games on Twitch, they can sure figure out how to hustle elsewhere.
The jobs report says everything though, not many people are wanting to go back to work (yet). 266K increase (expectations were 1MIL), far away from 22.4 MIL jobs lost last year
https://www.bls.gov/
You said it better than I did. I let my annoyance get the best of me.
Quoted from Zablon:You remember how people for the last 4 years been saying don't believe the media? Let me guess, you were one of them, and now you suddenly believe it because it fits your narrative? Sorry, but it's already been debunked. People who's jobs came back DID go back to work. What is left are shit jobs, or companies who still think you need 15 years of experience to hire. It's time for corporate america to wake the f up. I can't wait until the oldest generation is gone with their outdated simple minded holier than thou mentalities. I envy the younger generations who don't want to be slaves. Yes there's a fine line between being completely lazy and having work ethic and much of those people have chosen unconventional job paths. Good for them.
On top of that economists are crying because the population births is ever increasing in decline. We can't sustain the economy because people aren't spitting out enough kids....really? That's some f'd up priorities right there.
Meanwhile with the impending tax increases, the 1% are trying to find their next 'easy out' to not pay taxes as if all the loopholes they have haven't lowered that number for decades.
People have gone back to work, but the portion where the unemployment was greater than their salary before didn't. I don't need the media to tell me that, I can see it with my own eyes with all the places that can't find help. Do they need to pay more? Probably. But this is all going to come at a cost to everyone else too, you don't double the wages of employees at some of these places without causing prices to go up.
The government is causing massive wage inflation on the low end of the spectrum, just like how their policies are causing massive price inflation in housing on the low end too. They need to cut off the extra unemployment asap before inflation gets out of control.
Quoted from taylor34:The thing that surprises me a lot is how Amazon hasn't moved in like a year.
I just read Amazon was up 75% in 2020 - maybe the market estimated what the pandemic would do for their business pretty well?
Quoted from taylor34:People have gone back to work, but the portion where the unemployment was greater than their salary before didn't. I don't need the media to tell me that, I can see it with my own eyes with all the places that can't find help. Do they need to pay more? Probably. But this is all going to come at a cost to everyone else too, you don't double the wages of employees at some of these places without causing prices to go up.
The government is causing massive wage inflation on the low end of the spectrum, just like how their policies are causing massive price inflation in housing on the low end too. They need to cut off the extra unemployment asap before inflation gets out of control.
That's true in some cases, but more did than didn't. I've seen the opposite of what you state. I don't deny that it seems like they are getting carried away with the stimulus -or at least needed to be way more specific about who they keep giving it to - but unemployment runs out eventually anyway, it isn't endless.
Quoted from Zablon:It's time for corporate america to wake the f up.
Greedy Corp will just keep taking more away from the employee. No pensions less 401k match. As long as they get bigger bonus they don't give a crap about the work force.
Quoted from Zablon:I can't wait until the oldest generation is gone with their outdated simple minded holier than thou mentalities.
I'm in my early 40ies dude, and self made. Im as far as you can get from being a slave to a job. I live in NY and I can tell you this- My wife who is a GM for a massive hotel chain, her whole staff quit working and sitting home collecting $900 a week since March 2020. There is zero motivation for anyone in NY making under 50k to go back to work. You call this special treatment? Imagine if all these trillions actually went to the tax payers. Prob like 40k each haha. PS dont ever talk to people on the internet saying "people like you". You dont know me nor have you walked in my shoes. At 17 I was paying my dads mortgage.. Do you know me?
Quoted from 6S3NC3:Greedy Corp will just keep taking more away from the employee. No pensions less 401k match. As long as they get bigger bonus they don't give a crap about the work force.
I'm in my early 40ies dude, and self made. Im as far as you can get from being a slave to a job. I live in NY and I can tell you this- My wife who is a GM for a massive hotel chain, her whole staff quit working and sitting home collecting $900 a week since March 2020. There is zero motivation for anyone in NY making under 50k to go back to work. You call this special treatment? Imagine if all these trillions actually went to the tax payers. Prob like 40k each haha. PS dont ever talk to people on the internet saying "people like you". You dont know me nor have you walked in my shoes. At 17 I was paying my dads mortgage.. Do you know me?
I can say I was pretty damn close in knowing you, but also why I mentioned it wasn't an attack on you, but point taken. The fact is those trillions would NEVER go to the taxpayers in any other scenario. They ARE going to the taxpayers because of this scenario. Yes there are people who abuse the system....but do you really think $900 a week is that much in New York? These people aren't getting rich. The population has been shagged by the overlords as far back as capitalism has been around. So what if they get a little bit of a nudge for awhile? The reality is the people who didn't want to work, weren't working before all this and the numbers aren't as bad as a certain political stance would have you believe. At the end of the day, even if you are a business hiring, it just makes people who are well off (hard work or no) sound petty. And for the record, other than I'm a grunt for a company, we aren't that far off.
Quoted from fosaisu:I just read Amazon was up 75% in 2020 - maybe the market estimated what the pandemic would do for their business pretty well?
Most of the Amazon move that you are talking about was in the first 3 months of last year. It has been pretty flat since then.
Quoted from fosaisu:I just read Amazon was up 75% in 2020 - maybe the market estimated what the pandemic would do for their business pretty well?
Amazon stock is the same price as it was 10 months ago (July 10, 2020).
Not the end of the world for me, I want to add some AMZN and not sorry it hasn't gone to the moon.
Does Amazon seem like it’s on the way for a stock split? If so, does it pay to have Amazon before a split? (Or does it dilute the splits and less valuable after)
Teasing out some details from the jobs report and adding my recently referenced personal experience and bias I strongly suspect that solving the childcare problem will go a long way towards solving the worker problem.
Now I have no freaking clue how to solve that problem, but that’s where I think we need to focus our energy.
That or be cool with more single income households and the economic consequences of that.
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