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the market: stocks, bonds, options, whatever

electronDegenerate

Bluelighter
Joined
Dec 10, 2020
Messages
382
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Wildling Country
Just read about Credit Card Churning. There’s a money game for yeh.
Sort of a multi tiered algorithmic way of using cost benefit analysis to maximize the bonuses of an array of credit cards, which you also then close again before incurring certain annual fees. Takes a lot of organization apparently but there are people who do it so well they can travel the world for free.....
I’m sure there are plenty who fail miserably at it though
 

Xorkoth

🎨 ARTministrator 🎨
Staff member
Joined
Feb 8, 2006
Messages
53,325
Location
In the mountains
Sounds annoying to have to deal with. Although traveling the world for free sounds... very nice.

Man watching my stock portfolio has been lame as fuck lately. My ARK ETFs have been dropping/stagnating for a while. Everything stagnating except some stuff I don't have. Oh well, that's just how it goes sometimes I suppose.

The cannabis company I've been waiting for, Verano Holdings, had its IPO recently and is listed as a "penny stock", though its cost is like $23 per share. I'm not gonna buy any yet though because volume is mega low, there isn't even any total shares/market cap info yet. And I notice that a lot of the time after an IPO, the stock price plummets down way low after a bit before it catches on and rises again. My guess is the price is going to go way down so I'm just watching it. But my buddy who is really tapped into the industry says they're poised to own the east coast of the US. He's more excited about it than he is about any other cannabis stock.
 

usual-suspect

Bluelighter
Joined
Aug 6, 2020
Messages
220
Very focused here in US market... Maybe is time to look elsewhere? Emerging markets, Uk, Japan, etc... Just to study those markets and have another option where to invest.

US is a great market, but is quite expensive now, and any mistake can have big consequences. UK for example is quite cheap now.

Also be aware that any obvious growth opportunity might be already priced in, like the weed stocks. Typical case of any regulatory wrongdoing is followed by a big dump.

On the other side, the fed might be creating a huge bubble in following months/years, so it might be good to keep US stocks. Who knows, it's so difficult to forecast...
 

Xorkoth

🎨 ARTministrator 🎨
Staff member
Joined
Feb 8, 2006
Messages
53,325
Location
In the mountains
Yeah it's a bloodbath lately, especially for tech stocks. Even my ETFs are fucked. Except for ITOT is just stagnating. And my total world ETF (forget which ticker symbol off the top of my head) is doing okay.

Not a bad idea to look into foreign markets, eh?
 

Xorkoth

🎨 ARTministrator 🎨
Staff member
Joined
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Messages
53,325
Location
In the mountains
Using credit cards to improve your credit score is something I highly recommend. The credit score game is really stupid, but it's valuable to have a good credit score. If you ever want to own a house, you get a much better deal on mortgages if you have high credit, and likewise for auto loans or any other sort of loan. You never know what might come up in life where you might need to borrow money to save your ass, even disregarding home ownership. It's very easy to open several credit cards, and buy one thing on each of them each month (like buying gas, or groceries, something you'd already be buying I mean), and then pay them off immediately. Doing this will build your credit. I recently found out that you get a penalty to your credit score if you have less than 10 accounts on your record, whether they're open or closed. Thing is, after a certain number of years, inactive stuff drops off your report. I found this out because I have been working my credit back up since I declared bankruptcy at the end of a parasitic relationship/opiate addiction combo that sent me hugely into debt that was insurmountable for me. I've been doing great, but my score suddenly dropped by like 40 points, putting me down into a lower category. It was because like 5 old credit accounts that got closed/paid off by bankruptcy dropped off my credit report all in one month. You'd think having the evidence of discharged debt removed from your report would make your score go up, but no, apparently they care more about how it now appears that I "only" have 4 loans/accounts on my report.

However my bankruptcy is going to drop off my report in like a month and a half so I expect it will jump back up then, which is good because I'm trying to refinance my mortgage.
 

Jabberwocky

Frumious Bandersnatch
Joined
Nov 3, 1999
Messages
49,286
Location
Looking-Glass Land
Using credit cards to improve your credit score is something I highly recommend. The credit score game is really stupid, but it's valuable to have a good credit score. If you ever want to own a house, you get a much better deal on mortgages if you have high credit, and likewise for auto loans or any other sort of loan. You never know what might come up in life where you might need to borrow money to save your ass, even disregarding home ownership. It's very easy to open several credit cards, and buy one thing on each of them each month (like buying gas, or groceries, something you'd already be buying I mean), and then pay them off immediately. Doing this will build your credit. I recently found out that you get a penalty to your credit score if you have less than 10 accounts on your record, whether they're open or closed. Thing is, after a certain number of years, inactive stuff drops off your report. I found this out because I have been working my credit back up since I declared bankruptcy at the end of a parasitic relationship/opiate addiction combo that sent me hugely into debt that was insurmountable for me. I've been doing great, but my score suddenly dropped by like 40 points, putting me down into a lower category. It was because like 5 old credit accounts that got closed/paid off by bankruptcy dropped off my credit report all in one month. You'd think having the evidence of discharged debt removed from your report would make your score go up, but no, apparently they care more about how it now appears that I "only" have 4 loans/accounts on my report.

However my bankruptcy is going to drop off my report in like a month and a half so I expect it will jump back up then, which is good because I'm trying to refinance my mortgage.
I’ve got cards maxed but it’s still under 20%. But I plan to change that pay them off first and keep what I I have invested and invest leftovers.
 

Jabberwocky

Frumious Bandersnatch
Joined
Nov 3, 1999
Messages
49,286
Location
Looking-Glass Land
Sounds annoying to have to deal with. Although traveling the world for free sounds... very nice.

Man watching my stock portfolio has been lame as fuck lately. My ARK ETFs have been dropping/stagnating for a while. Everything stagnating except some stuff I don't have. Oh well, that's just how it goes sometimes I suppose.

The cannabis company I've been waiting for, Verano Holdings, had its IPO recently and is listed as a "penny stock", though its cost is like $23 per share. I'm not gonna buy any yet though because volume is mega low, there isn't even any total shares/market cap info yet. And I notice that a lot of the time after an IPO, the stock price plummets down way low after a bit before it catches on and rises again. My guess is the price is going to go way down so I'm just watching it. But my buddy who is really tapped into the industry says they're poised to own the east coast of the US. He's more excited about it than he is about any other cannabis stock.
And mind med
 

Xorkoth

🎨 ARTministrator 🎨
Staff member
Joined
Feb 8, 2006
Messages
53,325
Location
In the mountains
Don't worry too much, everything is down right now.

I’ve got cards maxed but it’s still under 20%. But I plan to change that pay them off first and keep what I I have invested and invest leftovers.

Going above 30% of your maximum on a single card drops your credit score, and over 50% drops it more. Maxing a card out is a pretty solid hit to your credit score. Also any late payments are bad. Ideally what they want to see is a high number of accounts, with a very low percentage of your total credit line utilized, but with regular activity
 

Jabberwocky

Frumious Bandersnatch
Joined
Nov 3, 1999
Messages
49,286
Location
Looking-Glass Land
Don't worry too much, everything is down right now.



Going above 30% of your maximum on a single card drops your credit score, and over 50% drops it more. Maxing a card out is a pretty solid hit to your credit score. Also any late payments are bad. Ideally what they want to see is a high number of accounts, with a very low percentage of your total credit line utilized, but with regular activity
Yeah I have to stop doing what I’m doing buying bngo living on credit and just focus on paying them off it isn’t but like 2 g I can get it paid in no time with some patience
 

thujone

Bluelight Crew
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Aug 31, 2006
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::1
Regarding recent events ...

“A move of this magnitude is not healthy for markets and equities are rightfully acting negatively to it,” said Matthew Miskin, co-chief investment strategist at John Hancock Investment Management. “We will be watching to see if the Fed pushes back more meaningfully on the recent rise in yields. They could do this with greater QE or yield curve control.”


QE i.e. Fed buys bonds, pushes equities higher, keeps doing this until stimulus can be withdrawn, which should happen as the economy comes alive when the pandemic winds down, and the general sentiment now is that interest rates will begin to rise when the pandemic ends, as the Fed was already hinting at normalization before the pandemic started.
 

thujone

Bluelight Crew
Joined
Aug 31, 2006
Messages
10,856
Location
::1
Latest in the Gamestop saga...


Last year, Forbes put Griffin’s net worth at $15 billion. Griffin has spread that money around to those who helped boost that net worth by keeping the Carried Interest tax loophole in place for hedge fund managers such as himself. Carried Interest is a legalized tax dodge that allows hedge fund billionaires to pay a tax rate lower than many plumbers and teachers.
During the 2019-2020 election cycle, Griffin sent 21 checks of $1 million or more each to PACs and Super PACs working on behalf of, exclusively, Republicans. Griffin wrote out the largest checks to the Senate Leadership Fund, a Super PAC formed to keep a Republican majority in the Senate. As of December of last year, Steven Law, the former Chief of Staff to former Senate Majority Leader Mitch McConnell, was President of the Senate Leadership Fund.

The mind boggles. $60M in "donations" ... the U.S. really needs to clamp down on PACs I mean WTF? This is just a naked subversion of democracy, literally paying politicians to keep the taps on
 

Achten

Bluelighter
Joined
Jun 19, 2011
Messages
986
Sorry to slightly derail. But what do you guys think about buying physical silver?
 

Jabberwocky

Frumious Bandersnatch
Joined
Nov 3, 1999
Messages
49,286
Location
Looking-Glass Land
Payed two cards off 2 to go. And I had a spare change to invest. You heard of ticker symbol tnxp? Suppose to make biologically meds for those with addiction. Seems relevant to bring to Bluelight attention. I’m trying to diversify yet again but may just end up buying dips and average up on BNGO and SENS
yeah dude don't go into ANY debt for an investment in stocks. That is a bad road to go down.
 

Xorkoth

🎨 ARTministrator 🎨
Staff member
Joined
Feb 8, 2006
Messages
53,325
Location
In the mountains
Man my tech ETFs are struggling, I thought ARKK was done going down for a bit but apparently not. I bought in at average $148 and it's $127 right now. But whatever, ETFs are supposed to be long term holds.

My weed stocks are saving me, been holding or slowly raising. But I'm down from my initial investment, still. I always seem to enter the market (any market) at the crest of a peak, but this time I will not sell off for a loss.
 

Jabberwocky

Frumious Bandersnatch
Joined
Nov 3, 1999
Messages
49,286
Location
Looking-Glass Land
Man my tech ETFs are struggling, I thought ARKK was done going down for a bit but apparently not. I bought in at average $148 and it's $127 right now. But whatever, ETFs are supposed to be long term holds.

My weed stocks are saving me, been holding or slowly raising. But I'm down from my initial investment, still. I always seem to enter the market (any market) at the crest of a peak, but this time I will not sell off for a loss.
I bought the dip small amounts of bngo and got into motus GI holdings at 1.30. So currently all med based stocks. But I’m down I think we all are.
 
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