Jurgis
-
Posts
6,042 -
Joined
-
Last visited
Content Type
Profiles
Forums
Events
Posts posted by Jurgis
-
-
Another article on Rentech: https://markets.businessinsider.com/news/stocks/jim-simons-renaissance-technologies-rentech-5-billion-client-redemptions-2021-2-1030055185
<i>RenTech's investors are pulling their money after the firm's international equities fund lost 19% in 2020, its institutional diversified alpha fund tumbled 32% over the same period, and its institutional diversified global equities fund slumped 31%.
.......
In contrast, the firm's flagship Medallion fund - which is only open to owners, employees, and their families - gained 76% last year, Institutional Investor reported last month.</i>
This is like LOLZ wtfpwn stupid outside money dudes... ::)
-
I had some old BTC laying around in a wallet so yesterday with the recent news I played around a bit.
I tried to top up a cloud storage account with 10$ USD of BTC. By the time the intermediary processor (bitpay) and network transaction fees were added, the total charge was $19 USD !
So the transaction fees basically doubled the cost of my $10 transaction...
Not sure about the BTC online transactions, but BTC ATMs have a huge buy/sell spread. Something like 20% or so. ::)
-
Why TLT and not traditional protection such as GLD?
Yeah, that’s my question too. For me gold looks like a better bet, especially in a scenario where interest rates are artificially held back and inflation runs hot, like some have alluded to may happen. So, I keep buying small chunks of IAU in one account where I have the most cash (and IRA account). I sort of regard it as a cash alternative knowing too well that it can develop downside volatility in a choppy market.
Guys, he's buying TLT for deflation/falling rates scenario, not for inflation/rising rates... ::)
He actually explicitly said:
It appears that the massive debt overhang (absent MMT) will cause interest rates to fall (contrary to popular wisdom) -
Did the Labcorp Pixel at home Covid test: https://www.pixel.labcorp.com/
Just FYI as a possibility for people in US experiencing symptoms.
-
Publicity is reflexivity.
I'm likely gonna add this to my sig.
-
I guess sharing research and opinions about stocks in online message forums is market manipulation?
What world are we living in?
I mean, they're just investigating, no judgement is made yet. But I get your point, of all the shady crap that goes on, this is the one they decide to delve into...
Remember the good old days, when the SEC were literally handed a full blown case into a hundred billion dollar ponzi scheme, and did absolutely nothing with it?
If they did not investigate, there would be an outcry that they are not investigating... ::)
-
Unfortunately this thread's topic thesis is killing relatives without any discounts. :(
-
From what I see, there are no mutual funds or ETFs tracking Wilshire Equal-Weight 4500 :'(
-
While some of us in Boston were twiddling with our ... pencils...
... dis dude ...
Oh well.
::)
That's why we are still on CoBF
Jurgis, you seem like an awesome guy to have a few drinks of single malt whiskey with
Sometime.
Some time.
8)
-
While some of us in Boston were twiddling with our ... pencils...
... dis dude ...
Oh well.
::)
That's why we are still on CoBF
-
Do you really think retail investors are the customers for Robinhood or any brokerage offering free trades? No just like with Google, Facebook etc. If they are not paying for it, they are not the customers they are the product.
Definitely. Everyone should switch to the one or two remaining full service brokers asap to be treated as a client and charged $50 per trade of commissions. Do it right now KKTHXOK.
Or move to Canada and use one of the bank brokerages our Canadian friends rave about.
-
I know these things are hard to quantify, but what do you think the odds are that Fairfax monetized a significant portion of their stake?
I personally think it's less than 50%, meaning I'd be unsurprised if they didn't and pleasantly surprised if they did. The entire BB investment thesis wasn't rational to begin with (IMO) so I don't put high hopes on a rational exit outside of an outright sale of the company.
+1
I hope if they don't sell they have a better answer than "we believe in the future of the company"
But what if BB really gets installed in every car and stonk goes TSLA sometime late 2021 or 2022? ::) 8) :o
-
Current times ($GME saga) show value of #Antifragile systems. Try blocking $BTC trade. Exchange in some part of the world will support execution.
Possibly illegally. And possibly gonna lose your money after execution. ;D
-
GME $1000 Jan calls.
It's a conservative value investment.
Mike Burry told me so.
J/K
-
And today Motley Fool Rule Breakers say "Buy Moderna". +5%
(Most of their buy recs go up 5-10% on the day of the rec).
Maybe we should tell RobinHood to disallow buying Moderna too. ::)
-
There is a bear market in Meme stocks today : GME, BB, AMC, NOK, PLTR are all down today.
No $41t Sherlock.
Would have never guessed stock prices would drop when people are not allowed to buy them. ::)
-
I 2nd, 3rd, 4th, whatever the protest on Gregmal's ban. The board has less value be/c of his absence. Sanjeev, it's your board, but I just don't see this one.
First of all, Gregmal is likely not banned.
Second of all, where were you all guys when great contributors like Schwab711 were forced to leave CoBF because of behavior of people like Gregmal who has justified rape multiple times on this site without any consequences.
These are great posts showing the attitude of people on CoBF: screw good contributors, but let's allow complete assholes post on the site and poison it to others. Shows pretty clearly where CoBF is headed.
Gregmal should have been banned long time ago. He's probably still not.
-
We'll find out they sold BB but had to use the proceeds to cover the TSLA short.
This. ;D 8)
-
I'm certainly no libertarian, but I fail to see why any regulation is necessary here.
If you're a sophisticated institution and you decide to be short on a position where the aggregate short interest is 100%+ of the float, then you're the proverbial pig that deserves to be slaughtered. It's the classic greed described by Buffett: Risking what you have and need in a vain effort to gain what you don't have and don't need.
Short squeezes have been happening for decades. What's different now is that it's retail orchestrating the short squeeze and thus the "wrong kind" of person is making money from the trade. The calls for regulation are being driven by envy, pure and simple.
+1
It's not just short-squeezes though, right? I mean that exacerbated this, but short squeeze lifted the shares from $140 to $300. It was redditors and Gamma that lifted it from $4 to $140. The idea that a board of 2+ million members can be mobilized/weaponized to lever the F up and distort the trading of ANY asset/market IS problematic - for businesses, for pensions, for markets in general.
What if Pepsi makes a political donation reddit decides it doesn't like and they short its shares into oblivion taking down pensioners assets with it? Is that ok?
What if these guys get into FX futures/future options and all simultaneously enter longs into the EUR/USD pairing and blow the EUR USD pair to 3-4 USD temporarily? You don't think that could be problematic for businesses all over the world?
What if they decide that they all think the Fed is exploding the dollar and decide to drive oil into the stratosphere by all loading into the front-month contract (the exact opposite of negative prices in April)?
These things matter. Yes - those are all bigger markets. But it's a growing community now (1+ million recent member adds). More on the way. And HFT/trend follower/momo strategies that will ride their coattails. This is a HUGE pile of liquidity that can really slosh anywhere it wants that that is NOT healthy.
I wonder how you propose to regulate this.
Forget concerted shorting.
How do you propose to regulate people going long because they read something somewhere?
Are you proposing to ban social networks?
Are you proposing to ban/moderate posts about stocks? Based on what metrics?
If Jim Cramer or Chamath or Elon posts to use Signal and people buy unrelated stock to stratosphere how are you going to regulate that?
Ban every post that mentions a stock that reaches more than 1M people? How?
Just FYI, there is no cartel or monopoly here. There is no agreement that WSB bros will actually buy anything. There is no central authority that makes people buy GME. There is no single person who "did it". And even if there was - as is the case with Chamath or Elon - what exactly is their crime in saying "buy GME"?
You might be able to persuade regulators to ban options (not a big loss IMO), although I'm sure there's gonna be yuge pushback on this. Or maybe change some rules to make gamma squeeze unlikely. But I don't see how you expect to prevent millions of people from deciding that they want to buy some crappy stonk at the same time.
@Sanjeev: if this crosses no-politics line, please delete and let me know.
-
3 years ago I walked into my barbershop and there were 3 customers with their smartphones out discussing their day trading strategies and weed stocks along with one of the barbers, I thought for sure that was the top of the cycle... 3 years later here we are ... ???
That is also true. 8)
-
IMO there is a potential of large market drop when the rocket-hodl-WSB junk stonks break down.
There is a potential that if marginal buyers are all in junk stonks and if these stonks break, there may be no buyers left for the index or general stocks. The buy-the-dip would be replaced by wall-street-f'ckd-us-again-market-is-rigged-sell-sell-sell-and-nvr-come-back.
Just one possible scenario. Not saying it has to happen this way.
-
I'm certainly no libertarian, but I fail to see why any regulation is necessary here.
If you're a sophisticated institution and you decide to be short on a position where the aggregate short interest is 100%+ of the float, then you're the proverbial pig that deserves to be slaughtered. It's the classic greed described by Buffett: Risking what you have and need in a vain effort to gain what you don't have and don't need.
Short squeezes have been happening for decades. What's different now is that it's retail orchestrating the short squeeze and thus the "wrong kind" of person is making money from the trade. The calls for regulation are being driven by envy, pure and simple.
+1
-
Bitcoin dropping because all bitcoin bros are piling into GME. ::)
-
Has anyone bought GBTC in IRA?
How sure are you that GBTC is legal in IRA and does not have unexpected tax consequences? (E.g. things like MLPs can screw you in IRA).
I know that Fido asks for additional agreement before they allow you to buy GBTC.
I believe that GBTC sucks in taxable account although I don't remember exact details.
Anyway, does anyone has a strong handle of tax implications of GBTC in IRA?
I own GBTC in an IRA at Schwab and didn't have to sign any additional agreements. Given that GBTC doesn't have any distributions associated with it, I don't think you'll encounter similar taxable issues as owning MLPs in an IRA. It's my understanding it's just a publicly traded trust more akin to REITs than ETFs/stocks/MLPs/etc.
I believe your understanding is only partially correct.
You are right that GBTC has no income, so currently it has minimal tax implications.
However, it is not akin to REITs - it is a grantor trust and its income/expenses flow through to shareholders. So if it had income, you would have to pay tax on it. Whether that would mean K1 or some other IRS form and whether it would have tax implications for IRA, I am not fully sure. In that sense it is way closer to a partnership than to REIT. Maybe this question is academic since it does not have income currently (and foreseeably).
Gambling Mentality Rages On
in General Discussion
Posted
Even the largest growth stocks (FAANMG) are not "absurdly overpriced". Some of them are actually somewhat cheap. FB. GOOGL. I could make a buy case for most of FAANMG.
Real estate? Depends on location(s). A lot of US RE is comparable to or way cheaper than Europe or Canada or Australia (AFAIK).