Reply With QuoteProblem is, when he cashes out hell stop being the WSB hero. Whats stopping him sell then fake his daily posts.
Originally Posted by ~dadam02~
I believe his hodlings were verified by the Wall Street Journal.
Has about $13million in cash but has lost nearly double that in total account value over the last few days.
Problem is, when he cashes out hell stop being the WSB hero. Whats stopping him sell then fake his daily posts.
To date he is pretty clean isn't he, he has essentially said on WSB and elsewhere 'I have bought this stock and held it because I thought the short sellers were wrong about the value'
OTOH if we were fabricating those holdings and posting it all over WSB you'd think regulators etc would start looking pretty hard at whether that was a fraudulent act.
I think my first one was a carpet company that a friend gave me a "hot tip" for - it prompt went bust the day after I invested - it was a good lesson for not much money.
I mean if you are idiotic enough to not bale out at 1m, then 2m, then 5 then all the way to 40m you are idiotic and possibly narcissistic enough to piss it all away
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He must have sold up, could have caused the price free fall
I suspect there is a lot we don't know and should treat most of what comes from a sub Reddit with a pinch of salt
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Good post - it's impossible to predict highs/lows and when you did (like me) the results are mixed to say the least! Sometimes buy and hold is a good idea.
Your spread of assets is very similar to mine - except a year ago I allocated 5% into crypto. For many years I was against them but during lockdown I could see the world changing and a cash based society is ending - like the internet in the late 90s we weren't sure where it was going but it signalled a new growth area. Where it goes, i have no idea - but BTC and ETH / difi is probably in there somewhere..Good luck!
I dont know if you read the Jeremy Grantham article I posted , but he got out of the Japan bubble 3 years before peak and tech bubble 2 years before peak. In both instances he made a lot more money getting out early in the bubble than trying to time the top and failing.
It is too early to call whether you made a bad decision in Spring 2020, and whereas you certainly havent timed the top of the market, the gain you have missed out on can easily be dwarfed by the losses if there is a significant crash, which if you believe all previous 34 historical financial bubbles in the article I referred to, is coming.
This whole cycle has yet to play out fully. Dont be hard on yourself until it has.
Quick question...
SPACs were mentioned a couple of pages ago. I understand what a SPAC is and what it exists for but Im not that clear what happens when a SPAC acquires its target company.
As a shareholder in the SPAC,do you then acquire an equivalent value of shares in the newly listed company?
Brent crude oil is now a buck off $60/bbl, and the world has barely re-opened.
At todays exchange rate thats equivalent to £44/bbl.
Even when we had $100 oil 10 years ago the dollar was very weak at $2:£1, so oil was not that much more expensive at £50/bbl in local currency.
Feels like a commodity cycle is off. Hopefully silver, gold and my RDSB/BP shares will follow soon.
10 year treasuries ticking continuously higher. Tick, tock, tick, tock.......
Last edited by noTAGlove; 3rd February 2021 at 16:37.
Yeah ... I may live to regret my scepticism of crypto but I think I can achieve my goals without having to take that risk on ... they still look like magic internet beans to me; and my background is technology so I'm usually an early adopter of tech.
Grantham is a perma bear ... just because he has a good track record does not mean he knows what is going to happen next. Arguably he's poorly equipped to judge as his experience isn't anything like the current situation and stimulus. He may not be able to adjust to the new normal this creates ... who knows.
When you feel bearish you tend to seek out news and views that support your own which makes you feel better about your decisions ... it's a dangerous cycle to get into. If you are already retired and have plenty of money no issue being out the market preserving your capital; but anyone younger creates risk sitting on cash too long ... maybe it will all explode and you will be looking good in your cash but the last 10 months have been perhaps the worst ever to be in cash.
Time will tell ... until then diversification is my thing ...
Last edited by Montello; 3rd February 2021 at 17:07.
Anyone familiar with Zacks Investment Management? I've been impressed with reports from their Investment Research group, but have a Zoom call later today with their Investment Management team.
I fully understand the point of seeking out information you wish to hear.
But, he makes a very compelling case in his interview. All previous bubbles have been created in near perfect economic conditions, and this one has been created in COVID. The stimulus will be withdrawn eventually and significant inflation is being stoked. All sounds reasonable for a layman like myself.
I wish I was a perma-bear who has been as successful as him at investing.
Good luck.
You own shares in the SPAC, which then merges with the target company and assumes their name.
Anyone bought yesterday?
It is $23.90 now, after hitting $24.65 a few minutes ago.
As expected, it dipped to 3,807 after I bought.
Still holding for 3,875 in the next days.
I am looking to buy more under $23
Ahem...I may well have thrown a few £££ at it...
I did, thanks very much for tip Raffe. Only put a few hundred pounds in, but sold at around $24 - will add to the fundraiser.
I am not selling, this has legs to go to $50 or higher.
Ill get back in then!
Me too, and will be making a contribution too when able to do so. Great tip Raffe!
How come TIGR is not on Trading212?
I got a little bit of TIGR and some of the THCA, will see if they go up
The SPACE I got 3 weeks ago is sitting at 110% wish I put more in! Only put £500 in :-( not really sure why its going so crazy. I know they had a few strong test flights but it keeps going up. Could be a decent day trade stock, seems to drop them go back up 10-20% most days
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You mean SPCE (Virgin Galactic)? Ive been in and out of these as theyve been reliably going up and down.
Blue Cap trading at EUR 25 in late German trading. Nice.
As a new / lay investor where does one get their financial news (tips) from? I seem to miss every opportunity. Always late to the party as it were.
edit: I have an AJ bell trading account set up for longer term prospects but the trading fee seems high for what I would be throwing at some speculative shares. I see hat T212 isn't taking on new clients what with the GME debacle. Any other recommendations?
Last edited by Bonesey; 4th February 2021 at 05:31.
This week's new positions:
The USD is on the move, my short EUR/USD and GBP/USD positions have now turned into nice money makers.
S&P500 is not moving much, but I remain confident that we will soon see the push upwards. Added another half a position yesterday, very long now.
Silver future looking very weak, every attempt at recovery is running into strong selling. Still, not worried too much as only a move below $24.50/$25 would really question the short term bullish scenario. Suppose this needs more time to work itself through all the sellers.
SPACS: THCA ticking up small bits, this isn't something that I am looking much at the moment as the key with SPACs is to be invested if and when they pop and everything before is just sitting and waiting. Other SPAC positions at the moment: VYGG, HMCOU, LUXAU, LEAP and DMYI
B7E (Blue Cap): holding above EUR 24 in German pre-market trading, looks very good.
TIGR: what a crazy volatile day yesterday, with multiple swings between $24.60 - $22.80 - $24.30 - $22.40 - $24. Added to my position at $22.85 yesterday, lot's of juice left in this one.
Best of luck all.
As 'for-instances':
- Having been convinced by this research note (posted by Raffe originally), I have signed up to receive their thoughts on equities on a more regular basis. There are a number of similar individuals and firms that do the same.
https://www.kerrisdalecap.com/wp-con...mited-TIGR.pdf
- I work in tech and that has influenced a few investments over the years (e.g. VMware IPO) because I think (!) I know what firms are run well / in hot areas.
- Morningstar has been pretty good for me when looking for funds to hold long-term.
- Random people on forums AKA Raffe (!)
There's no magic bullet though.
Become a member at wallstreetbets on Reddit and guaranteed you will be a multimillionaire within a few months.
No, I understand that. Just seeking some financial literacy and to be able to do my own research. Appreciate the lead on to Morningstar and Kerrisdale.
Thankfully a bit too long in the tooth to get caught up in meme stocks.
Raffe :-)
Follow Elon on twitter.
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Blue horseshoe loves home renovation companies and retailers who are convinced there will be a DIY boom this year with the middle classes using all their saved up dinner money on new kitchens and bathrooms
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Well this blue horseshoe believes that people will want to take holidays even when they can't or don't want to get into airplanes or share crowded hotels with lots of other people.
Check out CWH, a long term holding of mine.
Seems a decent punt, I certainly think holiday companies in Devon and Cornwall could have a bumper year
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Going well Raffe 👍🏻
Mr Musk is at it again
Can't complain, it's been a very good week again.
Gotta make hay while the sun shines, it won't continue like this forever.
Loads of places booked out solid already
We've a cottage booked this year, tried to book it for next year, already gone
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Breaking news
Hedge fund says it made 700m from GameStop rise and fall
Who is picking up the bill
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Nothing breaking or unexpected in this - it has been clear from the beginning that there was institutional money on both sides of this trade.
Total losses by shortsellers are in double-digit billions, when all is said and done we will see that WSB have taken home only a small fraction of that and the rest will have landed in the pockets of the suits. Not the same suits as in the beginning, but other suits.
As expected.
Im pretty sure Taylor Mason was the real winner.
Hindenburg Research, in new research piece, fires broadside at Chamath Palihapitiya. This should get good.
https://hindenburgresearch.com/clover/
Opens the popcorn
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Oops, the BoE threw a spanner in the works and GBP/USD has shot up by more than a cent since their noon statement.
Apparently the markets have been disappointed that the BoE have not hinted stronger at the possibility of negative rates, or maybe it was just that everybody was in the same position (sounds familiar?) and the exchange rate corrected. Anyway, what looked like a coming big winner before noon is now a marginal loss position. Not closing it (yet), want to see what is coming. But my track record on trading Sterling is such that I am not going to hold on much longer, rather switching it into a EUR/USD position because it is the Dollar that I want to trade rather than the Pound.
Moved 25% of my index trackers into my best 4 performing funds (BG American, BG Pacific, JPM Emerging Markets, SMT).
More news around indicating economic improvements than a crash so who knows but those funds have done super well for me so far over the past 6 months
Silver $26 level about to get breached.
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