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Who needs a job when you can just buy stocks?
- Thread starter Athena~
- Start date
Super Mario
Banned
While I can't mirror the OPs exact thoughts 100%, everyone should own stock. Between growth and dividends, it is a fantastic way to use your money. Day trading is a huge risk.
It's a shame that more people don't invest. "I can't afford it". Instead, we need social security to forcibly take people's money from them, pay it back in insignificant amounts, all while overpaying the program and bankrupting it.
It's a shame that more people don't invest. "I can't afford it". Instead, we need social security to forcibly take people's money from them, pay it back in insignificant amounts, all while overpaying the program and bankrupting it.
Frito_Pendejo
Member
With the amount of Tesla stock I have right now, after the 5-1 split if it goes back up I’ll probably be retired by 40. With that in mind, I don’t count on it. It seems too simple and life just doesn’t work that way for the most part. I do also have a healthy Roth account and a good amount of savings in the bank. But I also don’t hate my job and have made a lot of friends at work. If I have to work another 30 years so be it.
JORMBO
Darkness no more
I had around $25k sitting in an old 401k account from the first company I worked for after getting out of school. Since it was just sitting there with no new funds coming in I decided to invest in individual stocks for fun to see what I could do. It's up to $65k now since last year. I have a ton of APPL. I've debated selling it at a few times in the past but glad I held on. Now I'm debating what to do come election time though. Not sure how the markets might react if power switches hand.
I wouldn't want to invest as a main job though. It can all easily come crashing down.
I wouldn't want to invest as a main job though. It can all easily come crashing down.
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King of Foxes
Banned
You need to be rational about when to buy and sell
Two friends and I pooled our money and got in on bitcoin early and then out what I would consider too early also. But we all finished up far ahead. We are not millionaires, all ended up with over 100k euro though, for eastern Europe thats enough to buy an apartment and a country farm house with a large chunk left over
One of us ended up making close to 500k and then blew it all on risky investments.
Just be smart. Funny enough I got great returns on bannas and indian steel
I would never quit my day job to day trade though, do it as a hobby only
Two friends and I pooled our money and got in on bitcoin early and then out what I would consider too early also. But we all finished up far ahead. We are not millionaires, all ended up with over 100k euro though, for eastern Europe thats enough to buy an apartment and a country farm house with a large chunk left over
One of us ended up making close to 500k and then blew it all on risky investments.
Just be smart. Funny enough I got great returns on bannas and indian steel
I would never quit my day job to day trade though, do it as a hobby only
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Taxexemption
Member
I wouldn't count on consistent earning from stock. If you want to do that though, dividends are your friend. I go for etfs with good dividends, like SPHD.
EverydayBeast
ChatGPT 0.1
OP should feel happy for themselves but there’s nothing wrong with hard work it’s a choice I think learning stocks is great but you can always rely on hard work.
godhandiscen
There are millions of whiny 5-year olds on Earth, and I AM THEIR KING.
OP I have also had impressive returns in the past twelve months, but I know I cannot expect these returns to be the standard going forward. You aren’t the golden goose of stock picking. It is a safer strategy than options, but it still isn’t a guarantee. Do this for five years, experience a full cycle under the new normal, before you quit your constant source of income.
Also, it won’t be long before lockdown affected industries pick up again and the capital flows their way, which could potentially crush your earnings.
Also, it won’t be long before lockdown affected industries pick up again and the capital flows their way, which could potentially crush your earnings.
Taxexemption
Member
I bought puts with a long expiration date after the markopolos report. I sold them for a nice profit and bought longer dated ones since then. I can't sell them because I had a dream they declared bankruptcy and their stock was trading for pennies. I don't really know if it will happen but I'd rather lose the 1k in puts than wake up one day to a bankruptcy declaration.
Dr.Guru of Peru
played the long game
S
SLoWMoTIoN
Unconfirmed Member
I thought I would take advantage of the markets tanking.Hopefully I will soon.
AmuroChan
Member
Stocks is a supplemental income for me. It's a fun hobby, but not something I would risk my entire livelihood on. I've done well so far in 2020. The big decision for me will be whether to sell off everything just before the election. Depending on who wins, the market could drop precipitously in the aftermath.
Rookje
Member
I made 65K in the market in one year alone. Pretty nuts. I love waking up and seeing that I made 2K while I slept.
But its not gonna last forever, and I have a lot of friends in finance telling me to sell everything and move to a cash position because its going to crash. Not sure what to do right now.
But its not gonna last forever, and I have a lot of friends in finance telling me to sell everything and move to a cash position because its going to crash. Not sure what to do right now.
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Drake
Member
It goes up, it goes down, it goes up, it goes down. If you are invested in mutual/index funds just ride it out and you'll be fine.
West Texas CEO
GAF's Nicest Lunch Thief and Nosiest Dildo Archeologist
F
Foamy
Unconfirmed Member
Since your a longer term investor my advice would be to liquify a month before election. If the market dumps you'll be able to make a killing during the fire sale.
jadedm17
Member
You have no idea how much time I've spent watching Youtube videos on Tesla stock.
The last is MeetKevin and I can't say enough how everyone should watch him : He's funny, genuine, and a straight-shooter.
MeetKevin is when my Tesla love began, because as he breaks down the numbers he lays it conservatively and considers everything else (batteries, solar panels, SpaceX, etc.) all just "plus plus plus" as he says.
Then you get into the Mad Money guy teaching how advance their battery technology really is, and how far behind the "competition" is from Tesla.
Then you understand how GM, BMW etc have to convert expensive factories that make tradition engines to batterie manufacturing.
Then you learn how Tesla doesn't waste funds on advertising, they convert it back into R&D to further lap the competition.
Or how they dont need to convince dealers to sell EV's that don't need repair as much,Tusla cut's the middle nonsense.
Honestly I'm just starting into Tesla stock at ~$2000 when I wanted to around $1400 and already see missed potential. No more of that.
I'm with you OP, I'm deep in the Tesla hype train and will be making some gambles in that name.
The last is MeetKevin and I can't say enough how everyone should watch him : He's funny, genuine, and a straight-shooter.
MeetKevin is when my Tesla love began, because as he breaks down the numbers he lays it conservatively and considers everything else (batteries, solar panels, SpaceX, etc.) all just "plus plus plus" as he says.
Then you get into the Mad Money guy teaching how advance their battery technology really is, and how far behind the "competition" is from Tesla.
Then you understand how GM, BMW etc have to convert expensive factories that make tradition engines to batterie manufacturing.
Then you learn how Tesla doesn't waste funds on advertising, they convert it back into R&D to further lap the competition.
Or how they dont need to convince dealers to sell EV's that don't need repair as much,Tusla cut's the middle nonsense.
Honestly I'm just starting into Tesla stock at ~$2000 when I wanted to around $1400 and already see missed potential. No more of that.
I'm with you OP, I'm deep in the Tesla hype train and will be making some gambles in that name.
If Tesla went under tomorrow I'd still be better than I was 9 months ago; I've just ran the scenarios and I like my odds. I have no doubt of Tesla breaking $3000, the question is how long and where it may go in the middle.
Chiggs
Gold Member
If you’re living in the United States, what‘s in store for your stocks and your Roth over the next ten years will reduce you to a pauper.
Do you think a country can keep printing money and piling on debt and just get away with it indefinitely?
USA = fucked.
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Frito_Pendejo
Member
Thats fine if you believe that. I don’t agree but you’re free to feel however you like.
Chiggs
Gold Member
jadedm17
Member
"Whats this trickery" was my thought too following Bitcoin when it was $130. Then 300. Then 800. I didnt imagine itd hit 1300.
It topped at $20,000 before settling around half that, and today is back around $12,000.
You can believe what you want but theres insane money to be made and higher risk is higher reward. Simple.
Chiggs
Gold Member
It’s not like I don’t invest. I dabble in stocks, got a Roth, 401k, etc. There’s just no way this continues past this fall. Major market correction incoming, and I don’t trust the US dollar at all.
Having tangible assets, like land, gold, silver, etc. seems to me to be a priority right now.
Admittedly, I do find Bitcoin to be completely untrustworthy. Glad you had some success with it, though.
MaestroMike
Gold Member
there are many stocks i'd love to own but their price to earnings ratio is in the high 20s and into the 30s. thats too high for me. now tesla is over 1,000. 1,000!! thats fukking insane. that stock is so hot excruciatingly hot. i shouldn't even be telling you this because I benefit if you and everyone else puts all their capital into this and other hot as$ tech stocks because it makes the other great non-tech stocks cheaper for me to buy but I don't like to see people getting in late and then getting slaughtered when the eventual correction comes. If u wanna put ur dough into fine, but consider urself warned about what may happen. if more people get suckered into these tech stocks and u end up making some gainz off ur initial investment by like 25% or 50% just sell it ASAP and make a quick gain. Thats a good return don't be greedy with this gamble
real investors shouldn't even be telling people to invest in stocks dang it!! long-term investors are getting hurt cuz demand is increasing with a limited supply making sh!t more expensive!!
Dr.Guru of Peru
played the long game
how’s your portfolio doing now OP?
Frito_Pendejo
Member
If you’re in it for the short game I’m sure he’s hurting but I don’t think most people get into stock to make a quick buck. It’s definitely a game of chance but so is everything really.
Taxexemption
Member
If your in it for the long term you need a crystal ball to see how TSLA isn't overpriced with a 1k PE ratio.
If you play the long game you should at least look at the fundamentals.
S
SLoWMoTIoN
Unconfirmed Member
Tesla Climbs, Rebounding From Tuesday’s Record Plunge
(Bloomberg) -- Tesla Inc. shares rose on Wednesday, clawing back a fraction of the value it lost a day earlier when the electric-vehicle maker’s stock suffered its worst one-day decline in its history.The car company led by Elon Musk plummeted 21% on Tuesday -- its biggest drop since going public in
finance.yahoo.com
SafeOrAlone
Banned
Stocks seem like a smart move for someone like me, who is finally starting to save some extra money I could risk. Someone take me under their wing.
godhandiscen
There are millions of whiny 5-year olds on Earth, and I AM THEIR KING.
I have a good chunk of my net worth in my portfolio, close to 70%. These days have been wild, but I believe in my positions, so I just hold. Good that things picked up today.
Yesterday my portfolio went down like $40k and for a moment there I panicked and logged into Vanguard to do some emotional trades, but thankfully I was able to stop myself.
Yesterday my portfolio went down like $40k and for a moment there I panicked and logged into Vanguard to do some emotional trades, but thankfully I was able to stop myself.
DarkestHour
Banned
Emotional trades were my biggest mistake when starting a few years ago. I originally invested in Nvidia, Tesla, Roku, and Apple. Only one I was smart enough to stay with was Apple. I got scared last year when the market took a huge shit and got out of the other three like a dumbass.
godhandiscen
There are millions of whiny 5-year olds on Earth, and I AM THEIR KING.
Yeah, I held through that one. I am also dumb enough to have held all of my crypto. After almost three years since the crypto boom of 2017, I am finally going to break even on those, and I am happy with it, but if I was a better trader I could have sold at the top.
TheWanderingOgre
Member
The greatest man of my country took a dive head first into Bitcoin years ago. Now he lives a rockstar life in Miami and posts videos online of himself driving luxury cars and fucking escorts while drunk and saying crazy, silly stuff.
True story.
Could have been you, Dog.
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MrMephistoX
Member
I mean I work for a startup that IPOed before COVID so if it’s possible take that windfall and reinvest it continuously after 4 years I’d happily do it and retire day trading?
F
Foamy
Unconfirmed Member
We headed DOOOOWWN folks.
Make no mistake we are on a slow moving train to Hurtsville. Buy volatility index and short short short everything else.
Make no mistake we are on a slow moving train to Hurtsville. Buy volatility index and short short short everything else.
Taxexemption
Member
Maybe. I wouldn't make any hasty moves till after the election. I think there is a lot of upside if Trump wins. Also buying volatility index and shorting is for brainlets. Everyone else buys precious metals or crypto if they are worried, or possibly treasury bonds.
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epicnemesis
Member
As a financial advisor, please don’t listen to the OP.
Feel free to reach out for a more nuanced answer, but that OP stuff is NOT the way to play long term.
Feel free to reach out for a more nuanced answer, but that OP stuff is NOT the way to play long term.
Unknown Soldier
Member
Don't listen to financial advisors, if they were really good at giving financial advice why wouldn't they use their own advice and get super rich and retire to their yachts? Yeah.
I had TSLA pre-split when it was $200 a share ($40 a share post-split). I can confirm my TSLA has done pretty well. People will try to tell you that was a once-in-a-lifetime opportunity but I've already seen INTC, AAPL, MSFT, FB, NFLX, AMZN, TSLA, NVDA, AMD, ZM, SQ, PYPL, etc. all in my lifetime. You only need to catch a ride on one of these trains and you're set for life. Good luck out there, fellow Travelers.
P.S. Stonks go down, stonks go up. You can't explain that!
I had TSLA pre-split when it was $200 a share ($40 a share post-split). I can confirm my TSLA has done pretty well. People will try to tell you that was a once-in-a-lifetime opportunity but I've already seen INTC, AAPL, MSFT, FB, NFLX, AMZN, TSLA, NVDA, AMD, ZM, SQ, PYPL, etc. all in my lifetime. You only need to catch a ride on one of these trains and you're set for life. Good luck out there, fellow Travelers.
P.S. Stonks go down, stonks go up. You can't explain that!
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