rkbabang

Currently reading: "The Parent Revolution: Rescuing Your Kids from the Radicals Ruining Our Schools" by Corey A. DeAngelis "Superabundance: The Story of Population Growth, Innovation, and Human Flourishing on an Infinitely Bountiful Planet" by Marian L. Tupy Anyone else here use goodreads.com? If so feel free to friend me. My profile is here: https://www.goodreads.com/user/show/8431549-eric-pavao I've been putting everything I read into there the last few years. Not everything I've ever read is in there, but I put in what I could remember reading, and everything I've read since about 2019 is in there. I've rated 862 books. You can see currently reading, read, and want-to-read books. Also I like the "Year in Books" feature where you can get a summary look at everything you've read in a certain calendar year. Here's mine for 2024-2019: 2024: https://www.goodreads.com/user/year_in_books/2024/8431549 2023: https://www.goodreads.com/user/year_in_books/2023/8431549 2022: https://www.goodreads.com/user/year_in_books/2022/8431549 2021: https://www.goodreads.com/user/year_in_books/2021/8431549 2020: https://www.goodreads.com/user/year_in_books/2020/8431549 2019: https://www.goodreads.com/user/year_in_books/2019/8431549

I converted more of my Ethereum to Bitcoin yesterday. Not a straight conversion. I bought Bitcoin with about 65% of it. I’m holding back 20% for taxes and 15% which I plan to buy MSTR with tomorrow.

It doesn't work with brussels spouts or math homework either. I think it needs to be something they actually want.

Unfortunately the average person has a high time preference and there is nothing you can do for them. The relatively rare low time preference individuals turn out fine, the rest are just hopeless. There really isn’t anything that can be done as high time preference people will always make the wrong choices regardless of their situation and regardless of their education or any advice or handouts they receive. https://jamesclear.com/delayed-gratification

Thanks for these posts, they are very helpful. I’m just a little younger than you (51) and by the end of last year was letting myself get obese again. I’ve lost just over 40 lbs since Christmas but have been a little discouraged the last 2 weeks because I bruised and fractured a couple of ribs doing a home project and have had to stop any workouts except walking. I’m going to get back to lifting weights and my rowing machine again as soon as I can. The Dr said at least 6 weeks. Staying motivated to stay in shape isn’t always easy and getting older isn’t always fun.

There is no need to spend a fortune on Olive Oil to get the real thing. Here is a list of brands that have agreed to random testing from their bottles sourced from store shelves. https://www.aboutoliveoil.org/79-certified-pure-and-authentic-olive-oils

You could be right, now that I think about it. He made a lot on the Fairfax options, but the BAC leaps could have been the BIG one. I don't remember.

Ericopoly was a frequent poster here for a long time who made an absolute fortune on Fairfax options (somewhere well into 8 figures IIRC) as well as some other outstanding trades. He left the board at some point unfortunately. Keep up the training!

LOL, maybe you are correct. My wife and I met in our teens, got married in our early 20s, had 2 kids in our mid-20s (less than a year apart) and were done in our mid-40s. It seemed like we were running at 120% for 2 decades and then all of the sudden we could stop and breathe.

I just finished it, thanks for the recommendation. I started on his newer book "How Innovation Works: Serendipity, Energy and the Saving of Time" where he talks about innovation and what types of environments create it and which type of environments prevent it, and it's making me less optimistic as the US is clearly moving in the wrong direction and has been for some time. For just one example out of millions of possible examples see my last post to the BYON topic.

It’s funny but that chart kind of true. I’ve never been unhappy, maybe “happiness” isn’t even the right word, maybe it’s a harder-easier scale, but late 20s into early 40s I was so damn busy working my ass off and raising my kids that those years went by in a flash. Once I hit my late 40s early 50s with the kids being adults and having more money life is just easier. My wife and I get to spend a lot of time together like when we were in our early 20s before having kids. We can do what we want, go where we want, whenever we want. I remember the first time we went out to eat on a week night. We were like “it’s a Tuesday night and we’re actually sitting together in a restaurant!” That was impossible when the kids were young. Anyway life does get more relaxed and easier. While I wouldn’t trade those busy years for anything, I look at people who had kids late and are my age with young kids and I feel so bad for them. They always look exhausted, that’s a young person’s game.

This is an old topic that has been revived. Damn, I wish I was still 41. At least my portfolio is a lot bigger now along with my age.

When we've been saying that Bitcoin is going to be the base layer of all human value. In the future every person on earth, every institution, every government will use Bitcoin as a ruler from which to measure everything of value. Your pay will be in Sats, your groceries, your stocks will be priced in Sats, your house will be worth a certain number of Sats, etc, Did you think we meant that will happen while only a handful of Libertarians and anarchists owned Bitcoin? Yes, BlackRock and other institutions (even governments) are going to acquire Bitcoin in large amounts.

They will certainly exist. But will they be widely used? You can make the case that they are already not widely used today and in 5-10 years they will be used much less than now.

My thinking is that BTC takes some market share from Gold, Real Estate, Money, Bonds, and even Equities. In that order. Gold & RE 1st, Money, Bonds, & Equities last. Right now holding money as an asset is like holding water in a leaky bucket. It loses value constantly. When BTC gets close to its terminal value it will be far safer to hold than government money. There is some percentage of wealth held in Bonds and Equities now simply because people don't want to lose money to inflation every single year, so holding it in riskier investments is an attempt to hold the value through time. At the point that BTC is the underlying base layer for which most things are valued against and it is stable (growing in purchasing power at about the rate of productivity growth in the world economy), some of the wealth that would be invested in bonds and equities today will be held in Bitcoin instead.

Yes. No one knows what the correct percentage is nor how long it will take to get there. My personal opinion is more than Gold, Art, and Collectables combined, but less than Equities. So the 2024 equivalent of $40T-$80T and within the next 20 years.

Most people feel the pain of loss much more than the joy of gain. So they don't feel the gain of going from $50 to $75 as much as they feel the loss from $75 to $60. So even though they are up in total the unrealized loss from their high water mark hurts more than the unrealized gain from their basis feels good. I read a study that the vast majority of people lose money even in index funds, because they are more likely to sell after a downturn in the market than they are to buy. This coupled with the fear of missing out, means they are not only likely to sell at the bottom, but they are more likely to buy at or near the top. To be successful even at indexing, never mind stock picking, you need to put away your fear of loss and your fear of missing out. A lot of people can't.

Oh wow, I'm sorry, I didn't realize it was that bad. I'd still stay away from stocks at her age. I like the ideas above about CD ladders and maybe an annuity. My goal would be to make sure she has everything she needs or might need for the rest of her life and preserve the rest in safe assets/cash. Let whoever inherits what's left later decide what to do with it based on their age/goals.

I don’t know maybe leave it as it is? At $14400/year she can last another 41 years before running out of money. Maybe she should be spending more and enjoying herself at this point. She can’t take it with her. I’m not familiar with how bad stage 6 is, but I assume she can still enjoy things on a daily basis and do things which makes her happy.

It depends I don't really have a strategy, I just take it on a case by case basis. These were $20, Jan 17, 2025 expiry calls which I bought in early March (they were out of the money at the time). I was thinking that it was likely that CPNG traded in the $20s at some point this year. Since it is now trading in the 20s my thesis has been satisfied, so I took my profits and used a portion of it to increase my CPNG common holdings.

Yeah, I'm starting to learn to sell my options when they go up rather than getting greedy and wait for more. Many times in the past I've looked at large unrealized gains on my calls and did nothing, then they end up going back down and have me wishing I had sold. I've even gone on to eventually realize loses on options I could have at one time sold for hefty profits.

Sold CPNG calls that I bought a little over a month ago for a 146% gain and added to a few positions: CPNG common, FRFHF, JOE, MSTR, & EBAY.

Even if I was sure there was going to be a pull back to $60K-$65K, paying 15-20% federal capital gains taxes would stop me from selling with the expectation of re-buying. I'm just going to hold and keep DCAing. If we get a pullback I will increase my buying, but I will not sell. Not only is timing the market as much luck as it is anything else (i.e. gambling) capital gains taxes make it not really worth it even if you guess correct.

Great point. Situational awareness is the best thing most people can improve on. I learned this early in life. I had an incident in my teens where I was stopped at a stop sign in a city and someone opened my passenger side door and started getting into my car. I popped the clutch and hammered on the gas and the guy with only 1 leg in my car up to about the hip went flying head over heels. I never drove with my doors unlocked again. I'm buying this one. Thanks.

Mining gold to purchase Bitcoin.