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TopicStock Topic 22
red sox 777
02/20/21 7:21:17 PM
#260
As far as number of stocks goes, I think 15-20 is a good number for a whole portfolio. But there isn't a need to have that many stocks if they are all going to be in one sector.

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TopicStock Topic 22
red sox 777
02/20/21 7:07:32 PM
#259
I mean if you will only consider tech stocks, then you can't complain about lack of diversification. Out of your list, I think I like ZM and SQ the best. After that would be GOOG and AAPL. If I ever think the market is at a top I plan to sell a bunch of my risk stocks and put like 30% of my portfolio in KO, but it's probably too early for that at this point.

But like, if you have been investing in the stocks on your list, you should have made a lot of money from July 2019 to now. So why not? I think you need to figure that out.

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TopicStock Topic 22
red sox 777
02/20/21 11:15:17 AM
#248
Inversing people who are wrong a lot can be a good strategy too. Peter Schiff saved me a bunch of money on AU - I somehow made money on this thing by getting out on 2/12 and 2/16 - just in time!

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TopicStock Topic 22
red sox 777
02/20/21 10:52:19 AM
#243
I will also say, I've been seeing an ad from Etoro which strikes me as particularly misleading in that it all but implies that the way to make money trading crypto is to trade a lot. They have a feature where you can copy another person's trades so you can trade a lot even without paying attention to the market yourself. The commercial features a sloth (the animal) copying an active trader who looks to be researching, discussing, and trading crypto frequently, and getting the same returns as him. But the reality (if this were real) is that the sloth would have gotten an amazing return, probably better than from the copying, by simply buying and holding BTC and ETH.

I haven't seen commercials from Robinhood, but I know they have been known for promoting things like margin, options, and frequent trading to novices which probably don't really help their customers' returns on average but are goldmines for brokers.

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TopicStock Topic 22
red sox 777
02/20/21 10:38:09 AM
#242
Nanis23 posted...
In the last few days I was making a excel sheet, trying to figure out whether I actually gained or lost money in my whole adventure in the stock market.
It wasn't a simple "I put $50k into Robinhood and now it's $52k so I gained $2k" because I have 3 different accounts and need to take into consideration stuff like currency converation, the time I transferred stocks from my bank account to a new broker and so on

The end result was something I was afraid of. To know that I actually lost money in the stock market
Since I bought my first stock in July 2019...I lost $1400
The true culprit is the dollar tanking. As it results in a $4410 loss. Otherwise, I would have been $3000 in the green
So..yay >_>

I am debating what I should do. I am clearly not good at this. A fucking year and a half and this is my result? what a disgrace. Novice traders that only created their account a few months ago already made a thousands dollars profit and I can't even have a single digit profit
I am spending so much time in this. In Whatsapp, Telegram groups, Internet forums (like this stock topic), WSB and so on. All of this for what?
Not to mention the emotional impact this has on me

And yet...I know the feeling of making tons of money on the stock market. I did it. It felt good. I want to feel it again and I want to make money again. I know it has the potential and I need it if I ever want to buy myself a apartment someday.
A $40k income in a year when a decent apartment here costs $500k (and I am not even halfway there) because Israel sucks and we have a real estate bubble for years now that the government doesn't give a shit it and the prices keeps climbing even despite fucking COVID

I don't fucking know what to do

Are you trying to pay in full for the apartment? What about getting a mortgage? You have more than enough for a down payment (by US standards, I don't know what the rules are in Israel).

As for investing, yeah, you aren't a very good trader. I know it's hard psychologically because it involves risk, but you could try investing - meaning holding stocks for extended periods of time. Maybe think about it this way - if your money is not invested in stocks or real estate or something then it's invested in fiat currency. And as you've seen, investing in USD is pretty bad. Based on what you've been saying recently about only being willing to risk small amounts of money in stocks and that only for short periods of time, I think the reality may be that you have been very heavily invested in USD (or shekels, not sure if your brokerage is storing the money in USD).

It's critical not to beat yourself up over "breaking even." Like if you had made $1,420 more so that you were $10 in the green would it make a real difference? In the grand scheme of things, really it doesn't. Investing in a long term thing, and it's asking too much to expect to make money immediately. There is also a real risk that you won't even make money in the long term, but that risk is why investing is on average profitable.

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TopicStock Topic 22
red sox 777
02/20/21 10:22:30 AM
#240
I think Coinbase's commission may have convinced him not to sell too soon. This is another bad thing about payment for order flow, and why I don't think I would mind if brokers went back to a $5 commission per trade or something like that. Sure, maybe the worse execution of PFOF ends up coming out to about the same as a commission would, but how much money are people losing by trading a lot instead of holding? Probably quite a lot!

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TopicPolitics Containment Topic 365: Get those Checks in our Balances
red sox 777
02/19/21 6:09:48 PM
#336
LordoftheMorons posted...
Yeah making mean (but usually accurate) tweets is pretty much the worst thing something can possibly do

If the American people wanted more mean tweets they would have reelected the previous president.

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TopicPolitics Containment Topic 365: Get those Checks in our Balances
red sox 777
02/19/21 6:08:48 PM
#335
Joe Manchin! Yes! Thank you! The last thing we need is another person in high office whose main claim to fame is insulting people on Twitter.

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TopicStock Topic 22
red sox 777
02/19/21 5:32:11 PM
#225
CoolCly posted...
I completely agree with Nanis - that was just an excuse to continue to encourage everyone to keep buying without looking like you are trying to screw over the retail people buying, and without having do what red sox just astutely pointed out... nobody is telling you when to sell. WSB absolutely wanted nobody to ever sell, but that was a critical part of coming out of GME without a loss.

As for what the Interactive Broker says, that lines up with some data Destiny shows that in the later days of the price increases, buying was actually coming from institutions and not retail investors. Retail investors were net selling. So it really did require the insitutions to keep buying to cause the squeeze. But I wonder why they stopped.... would they have stopped regardless of the retail investors getting their buys halted or not, or was that the signal to them that this was probably over and to reverse course?

Based on the short selling data we have from S3 (probably trustworthy at this point), short sellers went from being short about 120% of the float to about 50% short in 2 days on 1/28 and 1/29. To close a short position you must buy the stock, and that's a lot of stock being bought, so probably most of the institutional buying was short sellers covering.

On net, retail investors made billions, and short sellers lost billions. But yeah, there are retail investors who lost (those who got in late), and there are short sellers who won (those who got in late).

And there is a fairly simple game theory explanation for why they would slow down buying to cover when the brokerages stopped the buying. If you are a hedge fund, and you believe that the stock is going to go past the point where you get margin called, it is to your advantage to get out earlier, not later. If you can get out at $400, you take losses but don't go bankrupt. If you wait until it hits $2,000 and you get margin called (supposing you can withstand it up to then), you go bankrupt. If you are a fund without a lot of exposure (maybe your margin call point is $10,000, and you are confident the squeeze will end before you get margin called), then you can ride it out.

But for the funds with margin call points nearer the market price, they must have felt tremendous pressure on 1/27 and the morning of 1/28 to cover. Of course they didn't want to do it because they knew it would (a) result in big realized losses, and (b) their own buying would drive up the price. Some of the earlier shorts (Citron, Melvin) already covered on 1/27 or earlier. And probably, that frenzy of buying on the morning of 1/28 that took the price above $480 was some of the other funds deciding to get out now while they still could with their businesses intact.

Once the buying restrictions go into place, suddenly the funds are not expecting the price to go up. So there is no need for a mad rush for the exit to be first to get out - they understand that everyone will be able to get out - at some loss, but it won't be the world where the first person out loses $400/share and later people have to pay $4000/share. And you see them covering the majority of their positions probably in the 300s.

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TopicStock Topic 22
red sox 777
02/19/21 4:58:20 PM
#222
One thing I agree with is that there is a huge flaw with this whole concept of buying stocks based on what other people tell you. Because they aren't telling you when to sell. And even if they did, conditions change, so unless they are continuously updating you on their assessment, you are going to be somewhat blind in selling if you haven't done your own research.

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TopicStock Topic 22
red sox 777
02/19/21 4:47:41 PM
#221
Thomas Peterffy, the IBKR chairman and founder, has basically said that the short squeeze was starting and would have happened if brokerages did not stop buying. He also said that Robinhood traders, with only about $40 billion in assets, were not big enough players to move markets that much, so that sounds a lot like a confession that it was the actions of larger brokerages like IBKR that stopped the squeeze. He thinks that the squeeze would have caused something of a system collapse (I interpret that to mean brokerages taking heavy losses as their short selling clients get margin called and the positions cannot be closed without going beyond the equity the short sellers have, putting the liability onto the brokerage).

As for people saying to buy GME not to make money but as part of a social movement, well, they were pretty transparent I think. They said to buy it and expect to lose money. If people bought it based on that, well, they must have expected to lose money. If I go watch a movie at a theater I expect to lose the money I pay for admission; if I play a round of golf I expect to lose the money I pay the golf course; if I read some social media person's post saying to buy ABC stock and lose money, and I buy it based on that, I must be comfortable with losing that money.

WSB went down conspiracy theory land a bit with all the talk of short ladders and that kind of stuff.

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TopicStock Topic 22
red sox 777
02/19/21 4:24:46 PM
#218
My guess, without knowing anything about the company, is that it had a lot to do with oil prices. When oil was at $150/barrel uranium was looking like a good alternative. When oil prices collapsed, suddenly uranium wasn't interesting anymore.

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TopicStock Topic 22
red sox 777
02/19/21 2:04:26 PM
#208
I'm interested in DNN but I refuse to buy a stock after it's gone up so much without a major pullback. If it gets back like somewhere around $1 I'll buy I think.

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TopicPolitics Containment Topic 365: Get those Checks in our Balances
red sox 777
02/19/21 1:27:09 PM
#312
ChaosTonyV4 posted...
https://twitter.com/hillaryclinton/status/1362800416900153344?s=21

Mayor Pete BTFO

So not Hillary then?

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TopicStock Topic 22
red sox 777
02/19/21 1:24:04 PM
#198
Lopen posted...
Got a long call on SPCE

Let us prosper together comrade Red Sox

Yesterday's NASA Mars landing fills me with hope.

On another note, I should start daytrading GME. It feels like it's done the same exact pattern for like 2 weeks - go up in the morning after open, then sink through most of the day. It'll probably change patterns as soon as I start daytrading it of course.

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TopicStock Topic 22
red sox 777
02/19/21 1:15:34 PM
#190
masterplum posted...
Tempted to dump fpvd now that it's recovered a little. It definitely was a greed stock buy and losing $400 on it doesn't seem like the worst.

...

I can't believe moonroof sold at the bottom still

If you look at the volume, he wasn't the only one. A lot of people sold at the bottom.

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TopicPolitics Containment Topic 365: Get those Checks in our Balances
red sox 777
02/19/21 12:31:49 PM
#307
Jakyl25 posted...
Idiot Congresskid strikes again

https://twitter.com/repcawthorn/status/1362550236753846275?s=21

In the United States, that's right. I guess he doesn't realize the Vatican is its own country.

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TopicStock Topic 22
red sox 777
02/19/21 10:49:10 AM
#186
Finally a green day again! Also, BTC hit a $1 trillion market cap.

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TopicStock Topic 22
red sox 777
02/19/21 10:42:02 AM
#185
Been buying more space companies. Now have SPCE, SRAC, HOL, NPA, MAXR, SFTW, and GILT. 4 of these are SPACs in the stage where they have announced a merger but haven't yet merged. There's a lot of space companies going public through SPAC recently.

Also bought DCRB - they are merging with Hyzon, a fuel cell trucking company that looks a lot like NKLA but hopefully actually has a working product.


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TopicPolitics Containment Topic 365: Get those Checks in our Balances
red sox 777
02/19/21 10:30:58 AM
#298
Not that I disagree with the idea, but it would upend traditional labor law. Uber has no business telling an independent contractor how much they can work - if they put in restrictions on when/how much they can work, that looks a lot like an employer/employee relationship. You can't write a law that only targets 2 companies so it would be a major project to make this change without causing a lot of unintended consequences.

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TopicStock Topic 22
red sox 777
02/18/21 5:34:25 PM
#166
I think a million would probably be enough to survive. The usual retirement guideline is you can spend 4% of your money every year, so with a million you could spend 40k. I could probably live on 40k.

But, it would be really uncomfortable to hit a bear market early on before the million has grown very much. Imagine losing 50% in a market crash - now you're going to be very nervous without a job.

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TopicStock Topic 22
red sox 777
02/18/21 4:07:58 PM
#160
Sunroof posted...
Some people are able to not care or think about their investments for long periods of time, others struggle more with that. I fall into the latter category, but I do enjoy the rush it brings too. Overall, its not something I want to be doing for the rest of my life by any means.

Not thinking or caring about investments is not a good way to make money. You can care and think about it and not be constantly jumping in and out of positions.

And it takes a LOT of capital to where your investments are consistently generating more gains for you than your work. Like, in a bull market you may do very well but if a bear market comes, unless you have a lot of capital to ride it out, you'll be glad you have a job.

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TopicStock Topic 22
red sox 777
02/18/21 3:19:17 PM
#134
It's not a coincidence!

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TopicStock Topic 22
red sox 777
02/18/21 2:29:40 PM
#121
I don't think anyone is saying DNN is a bad investment; just that it's too big an allocation. It has nothing to do with FPVD, except that the same problem (too big an allocation) was present with FPVD. DNN is a much more stable company than FPVD and probably should get a much higher allocation, but 50% of your portfolio is like......you might do that with a company you know in and out, that you've researched for months. Maybe.

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TopicStock Topic 22
red sox 777
02/18/21 2:12:55 PM
#117
https://en.wikipedia.org/wiki/Kelly_criterion

Moonroof, please read this. It is about position sizing. The result is counterintuitive - the most aggressive position sizing on average does not lead to the fastest gains.

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TopicStock Topic 22
red sox 777
02/18/21 1:59:25 PM
#104
Okay, so I think a question is - it was trading at 75 cents 2 weeks ago. If it returns there in say, 2 weeks, what's your plan?

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TopicStock Topic 22
red sox 777
02/18/21 1:57:27 PM
#102
Sunroof posted...
I moved to the southeast, largely to get away from the cold weather, and when this recent storm took away my power for three days and I saw the uranium stocks go up, it made me realize that thats a huge opportunity for nuclear energy growth. I reckon the southern states will learn (the hard way) from this recent weather issue and such forms of energy will go up.

What price did you get in at?

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TopicStock Topic 22
red sox 777
02/18/21 1:19:51 PM
#92
70k on a stock in the $1 range?

............

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TopicStock Topic 22
red sox 777
02/18/21 12:51:52 PM
#89
Moonroof, I hope you are not using those 25k positions from before. That's fine with stocks like Visa but it's really way too high an allocation for penny stocks.

If you are playing with all your money, a 10x gain is equal in size to a 90% loss. If you are playing with a small fraction of your money, a 10x gain is nearly 10x bigger!

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TopicStock Topic 22
red sox 777
02/18/21 12:47:23 PM
#86
GameStonk posted...
Ha, I had that same thought. I guess some people with millions of dollars invested might not want it loaned out?

In either way, I've now maxed my BTC, ETH, and LINK for free moneys. And the great thing about it is that the interest is accrued in tokens--so the more these are worth, the more your interest really becomes.

There's probably some risk that your counterparty won't be able to pay it back. So you get interest to compensate you for that risk. It's like how loans of GME stock were going for 150%+ interest at one point.

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TopicStock Topic 22
red sox 777
02/18/21 12:45:11 PM
#84
I think a reverse split would help actually. One reason I didn't buy it yesterday was that I saw the stock had recently been trading at under a penny. I've never seen a successful company let its stock get that low. It means there was massive dilution at some point.

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TopicStock Topic 22
red sox 777
02/18/21 12:40:32 PM
#81
Is BigT trying to make crypto tokens to represent stocks?

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TopicStock Topic 21
red sox 777
02/17/21 7:23:57 PM
#496
CaptainOfCrush posted...
But if you're optimistic toward the longterm growth of Bitcoin, why not directly buy coin itself? I might be missing the forest for the trees, but what actual value does a coin miner provide? Will they be lending coin the same way a bank lends cash? Will they like... pay their shareholders Bitcoin dividends? I don't get it.

Leverage. Mining has costs, so if, just as an example, BTC needs to be at 20k for them to break even, then BTC moving from 30k to 50k would triple their profits, while BTC would only advance 67%.

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TopicStock Topic 21
red sox 777
02/17/21 7:05:23 PM
#488
Sunroof posted...
I wouldve gone in Riot when I got into Bitcoin last month. Seems too high now but it can keep ascending. Yo, just ask your friend whether you should buy the stock. Lol.

That's a really bad idea that could land them both in prison. Look at what happened to Martha Stewart.

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TopicWhat should the minimum wage be?
red sox 777
02/17/21 3:15:10 PM
#1
What should the minimum wage be?










What should the minimum wage be?

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TopicPolitics Containment Topic 365: Get those Checks in our Balances
red sox 777
02/17/21 3:01:01 PM
#46
I would propose instead that the colleges start being required to pay income tax like everyone else, and the proceeds of those taxes be distributed to everyone who's paid for college.

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TopicPolitics Containment Topic 365: Get those Checks in our Balances
red sox 777
02/17/21 2:58:47 PM
#45
masterplum posted...
50 is too much. The people with the biggest student loan burdens are statistically those that have only a few thousand in debt from going for one or two semesters and dropping out.

I think 10k is reasonable

You mean it's a big burden because they don't have the income to pay it?

And student loan forgiveness is a bad idea unless it's paired with a radical overhaul of federal student loan lending. Otherwise, colleges will use it as an invitation to raise their tuitions. The government's going to forgive 50k? Well, guess what, our tuitions are going up by 50k!

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TopicStock Topic 21
red sox 777
02/17/21 11:44:55 AM
#440
Wow today is a sea of red for me. I guess that was bound to happen.

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TopicPolitics Containment Topic 364: Absolute Proof (Citation Needed)
red sox 777
02/17/21 3:13:21 AM
#497
Jakyl25 posted...
Hypothetically, how would the House function if the Speaker just rarely showed up?

The same way it does now. The Speaker hardly ever actually presides over the House - usually, only on ceremonial occasions like SOTU, the counting of the electoral votes, etc.

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TopicStock Topic 21
red sox 777
02/17/21 1:54:08 AM
#433
Bitcoin over $50,000. Cheers everyone!

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TopicStock Topic 21
red sox 777
02/17/21 12:12:10 AM
#432
Correction (Google did this again) - looks like Metromile's market cap is around 2.5 billion, not 600 million. Google did this with LAZR also - didn't correctly calculate the market cap for a while after the SPAC merger went through resulting in the company appearing to be way cheaper than it was.

I think 2.5 billion is still a great bargain though, so I'm still buying.

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TopicStock Topic 21
red sox 777
02/16/21 9:06:01 PM
#431
I first bought SPCE last July I think.

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TopicPolitics Containment Topic 364: Absolute Proof (Citation Needed)
red sox 777
02/16/21 9:04:25 PM
#493
Xeybozn posted...
Crazy thought: Is there any rule saying the Senate party leaders have to be senators themselves? Because seeing McConnell get forced out out of leadership with Trump as his replacement would be something.

I'm not sure, but I am pretty sure that the Speaker of the House does not have to be a member. If the Republicans take back the House in 2022, they can make Trump speaker.

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TopicStock Topic 21
red sox 777
02/16/21 7:48:28 PM
#428
CoolCly posted...
Yep. And even if they short sold at the peak of $98 when everything went down, the gain when it stabilized back to $80 is pretty low, and I can't imagine GME is gonna drive the ETF any lower.

Oh, back when GME was in the 3-400s. Hmm. Well, with enough leverage a 20% decline in the ETF can make a lot of money.

*Checks market cap of XRT, the ETF that is 180% shorted*

577 million? Okay, that's not big enough. This ETF has lost less than 150 million dollars off the peak. That just isn't big enough to make much of a difference to the shorts who had a short position in excess of 30 billion dollars in GME at the peak.

However, there may have been a fund or a number of funds who realized this was an easy way to make money and shorted XRT at the peak. It would appear that they made 100 million+ for seeing this. But it's not a big enough vehicle to have done much for the shorts in GME as a whole.

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TopicStock Topic 21
red sox 777
02/16/21 7:30:18 PM
#427
And it's just too darn hard to sell stocks I'm bullish on. I'm up to 19 stocks and MILE will be #20. Plus BTC and ETH. I've spent much of the long weekend trying to trim out stuff I expect to be low performers and there just aren't enough stocks here that I want to sell!

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TopicStock Topic 21
red sox 777
02/16/21 7:22:16 PM
#425
I'm going to be investing in MILE. This is Metromile, which does car insurance based on actual miles driven. I was a customer a couple years ago, and regularly overpaid for car insurance because I drove a lot more than I projected. If you don't drive much you can save a lot on car insurance with them.

I wish I had found out they went public earlier, but the market cap is still only at 600 million or so, so I think there's a lot of opportunity here.

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September 1, 2003; November 4, 2007; September 2, 2013
Congratulations to DP Oblivion in the Guru Contest!
TopicStock Topic 21
red sox 777
02/16/21 2:40:18 PM
#415
GME volume has cratered even further. Just below 7 million on the day so far......seems very likely we end today under 10 million for the first time since January 12.

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September 1, 2003; November 4, 2007; September 2, 2013
Congratulations to DP Oblivion in the Guru Contest!
TopicStock Topic 21
red sox 777
02/16/21 2:26:48 PM
#413
Nanis23 posted...
Palantir fall from grace is the most obvious thing I have seen in the stock market and I wish I had the balls to short that
If it dip even more on Friday (which is when the lockup expires) I am so going in

You're going to buy or short it?

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September 1, 2003; November 4, 2007; September 2, 2013
Congratulations to DP Oblivion in the Guru Contest!
TopicStock Topic 21
red sox 777
02/16/21 2:24:41 PM
#412
I am sort of concerned about how SPCE called off the test flight on Friday morning and still haven't provided any follow up information about why or when it's being rescheduled to.

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September 1, 2003; November 4, 2007; September 2, 2013
Congratulations to DP Oblivion in the Guru Contest!
TopicPolitics Containment Topic 364: Absolute Proof (Citation Needed)
red sox 777
02/16/21 2:18:13 PM
#447
ChaosTonyV4 posted...
https://twitter.com/lukeisamazing/status/1361382402199855104?s=21

Just found out about this and its blowing my fucking mind.

This actually explains everything. Notice that Chuck Schumer's imaginary advisors are middle class - NOT POOR. If we wanted a government that governed solely for the middle class, I imagine we'd end up with something pretty close to the center left.

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September 1, 2003; November 4, 2007; September 2, 2013
Congratulations to DP Oblivion in the Guru Contest!
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