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The wealth-building thread

Jan 14
What a difference a day makes. From Yesterdays 575 PUKE to climbing back to PAIN.
SPY MaxPain = 584 Jan14, 588 Jan15, 585 Jan21 Monday.
Current price = 584.02
PAIN tag is taking place at open.
Good luck!

Long 580.50. Looking for 587 Wed Jan15
 
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Today's SPY MaxPAIN rises to 593.
Next Monday PAIN 592
Current SPY Price = 588.93

I expect a rally today. Should take us up to 593 or higher.
Thursday US Market closed.

10 year US Treasuries = 4.700
At what point does the Fed realize they lost control of interest rates?

President elect irrational comments for the USA to take over Canada, Greenland and Panama Canal even before taking office is placing risk in market. Probably best to ignore comments rather than react to crazy.
Volatility spike: significant increase in market volatility, causing wider bid-ask spreads and erratic price movements showing on tape.
We better get use to wider swings for the next 4 years with an unfiltered government mouthpiece in place.
Eventually, all of this irrational noise will be ignored just like "the boy who cried wolf".

Update
After 4 hours of misleading trading - we move toward 593? :D
Yes, ignore the crazy
 
The Millionaire Next Door was a great book. Had an audiobook copy for years. It was always a good reminder that just because someone has high income and lots of toys doesn't mean they have any money. It's also the #1 reason I don't buy fancy watches, houses I can't afford, new/fancy cars, or turn over vehicles on the regular.

One of their car stories that stuck with me was about a guy who bought a new sports car every year and would do weeks of research leading up to the new model release, then hound all the dealers in his area to get the best deal. The book pointed out that if he just spent that time working (he was a lawyer or something hourly) and paid full price, he'd have more money than he "saved" with the haggling.

Good thing they never interviewed an audiophile. We're safe.
 
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For you real estate moguls, do you consider what you pay in property taxes when assessing your gains?
 
Yup. Although I consider "Rich Dad Poor Dad" author Richard Kiyosaki's advice uneven in quality, he does a great job of explaining how a person is getting screwed if most of their income is reported on a W2 form, preferring instead the kind of income streams which are taxed at lower rates, and especially the kind which don't stop if you feel like relaxing on a beach somewhere.
 
Look up the following smart contract platforms:

Solana
Polkadot
Ethereum
Cardano

Investing in these is not much different than investing in tech companies. They are creating the next iteration of the internet, or Web 3.

Don't make the mistake of lumping them in with meme coins that pump and dump.

And after Ethereum transitions to Proof of Stake, Bitcoin will be the only remaining Proof of Work (mining) cryptocurrency. At least Bitcoin is now sourcing over half of its energy from green sources. That was not the case up until this year.
I came across this comment back in Oct '21 and followed your advice - put my savings into polkadot @ $45. It's $6 now. Got anymore advice?
 
I came across this comment back in Oct '21 and followed your advice - put my savings into polkadot @ $45. It's $6 now. Got anymore advice?
Since they wont say it, i will NEVER take advice from the internet (including mine)
What makes this thread so ironic is that all the staunch audio objectivists are blatant subjectivists when i comes to investing.
 
What makes this thread so ironic is that all the staunch audio objectivists are blatant subjectivists when i comes to investing.
Please assess your future needs and try to understand your risk tolerance. You can use these to pick a desired asset allocation, implement it with low cost index funds via either mutual funds or ETFs, formulate a rebalancing method, and set your savings rate. All of this should be recorded in an investment policy statement which you review regularly.

 
For you real estate moguls, do you consider what you pay in property taxes when assessing your gains?
Yes, and insurance expenses too, which I why I resist owning any real estate except our home. My wife sometimes advocates buying second homes or undeveloped properties, and I step up the resistance to multiple giga-ohms. The squatting nightmare stories I show her also help.
 
Yes, and insurance expenses too, which I why I resist owning any real estate except our home. My wife sometimes advocates buying second homes or undeveloped properties, and I step up the resistance to multiple giga-ohms. The squatting nightmare stories I show her also help.
My siblings and I were recently faced with the question of what to do with our childhood home, and I saw plenty of potential for grief, as none of us were willing to commit to living there, much of the house was 1950s original, so I figured that we'd need to invest a substantial amount of money for repairs and updates before it could be used as a rental property. And then there was the matter of ongoing maintenance: Stuff grows fast in the tropics! The more I thought about it, the more I began to agree with Richard Kiyosaki's view of housing as an "asset" which behaves like a liability until the day you sell it.
 
VOO and SPY are on sale this morning.
12 points down at open is a fun event.

Today's SPY MaxPain = 606
Current SPY Price = 594.84

That's a buy opportunity for me.
Let's see how wrong I am this time? :D

That SPY 594.84 buy is working well so far. Hopefully we get to 602-606 by Wed.
 
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TSLA seems like an exceptional short with 106 PE and electric car rebates disappearing.
Banks are still trying to get their money back (at a loss) from loaning money to buy Twitter.
Hubris may eventually have a price tag?

MaxPain 605 today
Current price 602.18
Nice rally from 12 down to 3 down from PAIN

Tag of SPY PAIN today after yesterday's PUKE is epic.
Friday, Jan 31 SPY pays quarterly dividend. Lots of these accounts are set to repurchase shares. The skeptic in me says we could reach an all time high near that date.
 
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TSLA EARNINGS MISS
Revenue 25.71B - Forecast 27.23B

How long can TSLA stay over 100 PE? :facepalm:
 
TSLA EARNINGS MISS
Revenue 25.71B - Forecast 27.23B

How long can TSLA stay over 100 PE? :facepalm:
The Market is always right.....right?

I mean they promised cheaper cars in 2025, like one quarter after abandoning the new $35k retail model they were touting for a few years (which by the way was also supposed to be the eventual price of the Model 3). Plus they are talking up the hugely improved FSD and the likelihood of the taxi service going live by 2026 (never mind they promised a big announcement that it would be released in August last summer and then well nothing happened). So things are a little late, it is all gonna make us rich if we just buy more Tesla. Are you doubting the true value of the one company is greater than all the other car manufacturers in the world combined? Surely not. Have a little faith.
 
The Market is always right.....right?

I mean they promised cheaper cars in 2025, like one quarter after abandoning the new $35k retail model they were touting for a few years (which by the way was also supposed to be the eventual price of the Model 3). Plus they are talking up the hugely improved FSD and the likelihood of the taxi service going live by 2026 (never mind they promised a big announcement that it would be released in August last summer and then well nothing happened). So things are a little late, it is all gonna make us rich if we just buy more Tesla. Are you doubting the true value of the one company is greater than all the other car manufacturers in the world combined? Surely not. Have a little faith.

With TSLA everything is a smoke screen. Promoting cars that come and pick you up with Smart Summon. They don't tell how many things it may hit on the way there. Or all the cars they sold with $7K upgrade self driving feature only to come back later and say these cars don't have the hardware to do the job? As long as you keep believing the BS it will keep coming. :D

Tesla has a 12-month forward price-to-earnings ratio of about 118.39, compared with Ford's 6.07, and GM's 4.48.
Ford and GM have full time CEO's while TSLA's CEO focus is elsewhere.
 
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