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Lobby General Discussion topic #13400636

Subject: "On Economics. We gotta get this Money in the Market." Previous topic | Next topic
Case_One
Charter member
54567 posts
Sun Aug-23-20 10:10 PM

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"On Economics. We gotta get this Money in the Market."


  

          

Yo My Peeps. Look, I'm trying to tell y'all to get into this market and build a portfolio that will grow in value over the next 3 to 5 years so that you can build up some bank. There are two economies, the Market and the Main Street. But only one of those economies is used for building wealth and the other is playing with our time so that we can pay bills.

I can't keep working for a check and a 401K. I know that the market isn't the only way to build wealth, but it's a place that has many opportunities that can be leveraged at your own pace, skill level and risk tolerance. Owning a business is not something I desire. I want to handle my business and not stress about customers, staff, or advertising.


Some folks worry about stock prices. I get it. Tesla, Google, Apple, and other stocks can be expensive. So, if you can't buy whole shares then buy peices of a share. How? Get with a brokerage that offers factional shares via brokerages like M1 Finance, Fidelity, Schwab, or Robinhood. Invest $25, $50 to $100 a month or any amount as you go. M1 and Robinhood are great for that kind of method becasue they are easy to use. You ain't getting rich in a day, but you can build up your money overtime, and as you learning how to invest you'll build up the confidence to start trading - or just jump right in after learning the fundamentals.

Look. I'm not selling anything - I'm serious, I want us to win and be able to break away from the 9 to 5 job in 2 to 3 years and do this full-time. If you want to try Robinhood or M1 Finance apps use the links below. You'll get a FREE Stock with Robinhood or FREE $10 to invest with M1 Finance. We both win - FREE!

1. Robinhood: https://join.robinhood.com/jeromec182
2. M1 Finance: https://m1.finance/qYNTiinhlfkG


Anyway, I'm decent with the long-term stock investing and will only going to get better overtime. But I'm also learning options trading and Forex, so is my wife. I've built up a nice portfolio of stocks below and I add to it weekly. But it's time to get serious about a plan to move into day trading by the end of fall 2021 (maybe) and into full-time trading in 2022.

I'm just a student learning from other people that trade full-time. And I'm doing my own research to help supplement the knowledge. So, I'm suggesting that y'all to find someone that can teach you for Free or under $100 a session. I've listed the YouTube links below for Stock, Options and Forex trainings.


These are the stocks in the long-term portfolio that I'm building. I need to have at least 15 to 25 different stocks that will allow me to manage the risk. I'm in the tech sector so that's where I hang my hat in the market.


AAPL
BABA
BYND
CRWD
ETSY
FTCH
GLW
HUBS
LOW
MSFT
NVDA
OSTK
SBUX
SNE
TGT
TMUS
ZM
TSLA


These Classes are long but work the time.
Options Trading for Beginners: https://youtu.be/7PM4rNDr4oI
FOREX Trading for Beginners: https://youtu.be/Xb4KWuHmHBQ
Socks Invesitng for Beginners: https://youtu.be/y7iVTTH5tOA


Again, if you want to try Robinhood or M1 Finance apps use the links below. You'll get a FREE Stock with Robinhood or FREE $10 to invest with M1 Finance. We both win - FREE!

1. Robinhood: https://join.robinhood.com/jeromec182
2. M1 Finance: https://m1.finance/qYNTiinhlfkG



Peace and Blessings!

  

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Topic Outline
Subject Author Message Date ID
Who here is an options trader?
Aug 24th 2020
1
Are you trading options. I'm still studying that lane
Aug 24th 2020
4
*sniff sniff* hold up, ya'll smoking crack and didn't gimme nun?
Aug 24th 2020
37
I jumped on that M1.
Aug 24th 2020
2
I love M1. They're improving their Mobil UX
Aug 24th 2020
3
oh God you one of these dudes now? lol.
Aug 24th 2020
5
Like it's a bad thing. Playa I've been trying to get OKP in the game
Aug 24th 2020
6
Everybody should be one of "those dudes"
Aug 24th 2020
24
You need to diversify
Aug 24th 2020
7
shut yo ‘you need to diversify your bonds nigga’ ass up
Aug 24th 2020
9
*shrug* It's advice to him
Aug 24th 2020
11
Not really over exposed. But appreciate your comment
Aug 24th 2020
10
      Aight cool
Aug 24th 2020
12
           Vanguard Total Stock Market is the truth for the long term
Aug 24th 2020
15
You're not going to get "wealthy" just with the stock market
Aug 24th 2020
8
Did you read anything I said?
Aug 24th 2020
13
Black Americans are Conditioned to Work for free
Aug 24th 2020
26
Lmao
Aug 24th 2020
16
Man, I'm just tired of seeing folks struggle. Buth hey. Go figure.
Aug 24th 2020
18
False- Most millionaires make money from 401k
Aug 24th 2020
25
      But you eventually graduated from $50's to $1000s, right?
Aug 24th 2020
29
           Why aren't 401k millionaires wealthy?
Aug 24th 2020
38
           Lmao at letting us know he wasn’t Black
Aug 24th 2020
43
           Will you leave your grandkids 10k+?
Aug 24th 2020
44
           I used some of that 10K to buy our first house
Aug 25th 2020
52
           Damn you think that little of black folks?
Aug 24th 2020
47
                Average net worth of black people is $46k
Aug 24th 2020
49
                Don’t try that. Amorim is spitt’in facts.
Aug 24th 2020
50
                     RE: Don’t try that. Mori is spitt’in facts.
Aug 24th 2020
51
           Because the 401k is for spending
Aug 24th 2020
46
                Your 401k is just one part of your future income
Aug 24th 2020
48
                     Yeah.. if I don’t have a house, car or any bills besides utilities
Aug 25th 2020
53
                          How are you wealthy if you can't afford a deluxe apartment in the sky?
Aug 25th 2020
54
                               The point is not having to stress about money and bills
Aug 25th 2020
55
                                    You will need passive income in old age, wealthy or not
Aug 25th 2020
56
                                         Yeah.. you always need another source of income
Aug 25th 2020
58
                                         1. bc our culture doesnt embrace economics
Aug 25th 2020
59
                                              You have to stop saying this shit fam. You are part of the culture
Aug 25th 2020
61
                                                   plenty do, the majority dont.
Aug 25th 2020
62
           Why aren't 401k millionaires wealthy?
Aug 24th 2020
39
           5.8% of Americans are millionaires.
Aug 24th 2020
41
                Millionaires wil be normal by the year 2050
Aug 24th 2020
45
Any Day Traders in here?
Aug 24th 2020
14
Since it's so many smart folks in here, why ya'll ain't teaching lessons
Aug 24th 2020
17
You can't make people drink
Aug 24th 2020
27
      You are preaching that Gospel.
Aug 24th 2020
31
actually - OKP helped me make thousand off apple
Aug 24th 2020
19
That's a good move.
Aug 24th 2020
20
I wish I jumped on Tesla back when people in here were hyping it up
Aug 24th 2020
21
      I kicked myself for missing Tesla, pumped faked at 1300+ and
Aug 24th 2020
22
      yeah I remember that Tesla post.. ugh
Aug 24th 2020
28
      Nah, you made the right move.
Aug 24th 2020
36
      No I didn’t.
Aug 24th 2020
42
      Had the foresight to sell 4 @ ~$250 a year ago
Aug 26th 2020
68
Investing is no longer an option! Your future will depend on it
Aug 24th 2020
23
I'm done looking for jobs and working for other people.
Aug 24th 2020
32
Pretty good advice. Not bad.
Aug 24th 2020
30
You're right. You should expect to lose money.
Aug 24th 2020
33
      Stay away from Forex!
Aug 24th 2020
34
           I've heard about the Forex stories. Question.
Aug 24th 2020
35
           RE: I've heard about the Forex stories. Question.
Aug 24th 2020
40
                Great advice. May not trade Forex until Dec. Options are the way
Aug 25th 2020
57
           yeah I've had a couple of people talk to me about FOREX...
Aug 26th 2020
66
                It’s starting to get that pyramid scheme stench
Aug 27th 2020
79
                     yeah I'm suspicious of anything based on getting others to "sign up"
Aug 27th 2020
83
                     Why do you think starting to get that pyramid scheme stench
Aug 27th 2020
87
                          Forex is legit but the hype and new “experts” recruiting people..
Aug 29th 2020
92
Buying individual stocks is fun
Aug 25th 2020
60
This is where I ended up too.
Aug 26th 2020
71
RIGHT. my real money is in funds, individual stocks are for play
Aug 27th 2020
77
WOW! salesforce.com, inc. (CRM) Closed $216.05 and Opened $251.96
Aug 26th 2020
63
I should have sold at $280, fuck
Sep 15th 2020
115
The top 10% own 81% of stock wealth,... and the bottom 80% own 8%.
Aug 26th 2020
64
Smart move because it's also race-neutral.
Aug 26th 2020
65
That’s home appraisal is disgusting.
Aug 26th 2020
67
You have $100 disposable income
Aug 26th 2020
69
Roth IRA and try to max at $6000/year
Aug 26th 2020
70
RE: Roth IRA and try to max at $6000/year
Aug 26th 2020
72
This is awesome.
Aug 26th 2020
73
wheres the last 10?
Aug 27th 2020
82
If you want to manage the $100 disposable income yourself
Aug 26th 2020
75
Roth there are tax benefits/ With Stocks Tax penalties
Aug 27th 2020
78
      You can still set up and trade out of a IRA ACCOUNT
Aug 27th 2020
85
I DCA'd 10 bucks a week into robin hood, anything is possible.
Aug 27th 2020
76
I use Betterment
Aug 27th 2020
88
one of the best posts on the board in a while
Aug 26th 2020
74
Where are the OkayFinance archives?
Aug 27th 2020
80
I went to a free dinner where a guy was trying to win over retirees
Aug 27th 2020
81
      My younger brother has a healthy portion of savings in bonds
Aug 27th 2020
84
           Great exchange and conversation @^^^^ here
Aug 27th 2020
86
Best Long-Term Growth Stocks to Buy for the Next 10 Years
Aug 27th 2020
89
Thank you for this post!
Aug 29th 2020
90
I'm glad that I had Some Apple and Tesla stock. THE SPLIT is FIRE!
Aug 29th 2020
91
No Tesla, but I do have some Apple stock...
Aug 30th 2020
93
was this announced before?
Aug 31st 2020
94
It was announced a couple weeks ago...
Sep 01st 2020
97
I bought a couple more APPL shares after the split
Sep 01st 2020
98
      Sesame here. My LB now has 220 shares of Apple after the split.
Sep 02nd 2020
99
Get Y'all butts into AAPL today and TSLA if you can.
Aug 31st 2020
95
RE: Get Y'all butts into AAPL today and TSLA if you can.
Aug 31st 2020
96
I grabbed Apple today. May grab some Tesla next payday.
Sep 10th 2020
104
Get in on Tesla now after the drop
Sep 03rd 2020
100
Draft kings is interesting.
Sep 04th 2020
101
Ford (F) General Motors (GM) and Nikola (NLKA) Get in for the Long
Sep 08th 2020
102
I jumped on Nikola
Sep 08th 2020
103
      Today, I jumped out of Nikola after this report. I'll get back in later
Sep 10th 2020
105
           Damn.. this is grimy
Sep 10th 2020
106
                I hope you took a profit and sold that junk. Get back in later
Sep 12th 2020
107
                     Nah.. I’m holding on.
Sep 12th 2020
109
                          Good Luck. I'll jump back in one I see it trending up
Sep 14th 2020
110
                          Bro, are you still long on this stock? What’s your opinion?
Sep 15th 2020
112
                               Yup. I’m holding on.
Sep 15th 2020
113
                                    So Hindenburg admits they shorted the stock
Sep 15th 2020
116
The "On Economics" part of the title is making my eye twitch.
Sep 12th 2020
108
Ok. Well, we're here now...lol
Sep 14th 2020
111
      Sure, I get that -
Sep 15th 2020
114

Kira
Member since Nov 14th 2004
28262 posts
Mon Aug-24-20 01:19 AM

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1. "Who here is an options trader?"
In response to Reply # 0


  

          

Prayers up to everyone with spreads on etfs.

No empathy for white misery (c) BDot

"root for everybody black haters say that's crazy, wow..."

  

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Case_One
Charter member
54567 posts
Mon Aug-24-20 10:11 AM

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4. "Are you trading options. I'm still studying that lane"
In response to Reply # 1


  

          

.
.

“It was the evidence from science and history that prompted me to abandon my atheism and become a Christian.” — Lee Strobel, The Case for Christ

The Case for Christ Lecture: https://youtu.be/67uj2qvQi_k

Good News: https://www.goodnewsnetwork

  

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double negative
Member since Dec 14th 2007
21387 posts
Mon Aug-24-20 02:45 PM

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37. "*sniff sniff* hold up, ya'll smoking crack and didn't gimme nun?"
In response to Reply # 1


  

          

Im not saying that you have to be high to play options, I'm saying options IS crack. Outside of calls and shorts, I don't play with the devil. High highs and low how-do-i-tell-my-wife-our-great-grandchildren-will-be-poor? lows.

***********************************************************
https://soundcloud.com/swageyph/yph-die-with-me

  

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legsdiamond
Member since May 05th 2011
67184 posts
Mon Aug-24-20 08:34 AM

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2. "I jumped on that M1. "
In response to Reply # 0


          

Rolled my 401k from the last gig into a Roth.

I like it so far.

****************
TBH the fact that you're even a mod here fits squarely within Jag's narrative of OK-sanctioned aggression, bullying, and toxicity. *shrug*

  

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Case_One
Charter member
54567 posts
Mon Aug-24-20 10:09 AM

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3. "I love M1. They're improving their Mobil UX "
In response to Reply # 2


  

          


.
.

“It was the evidence from science and history that prompted me to abandon my atheism and become a Christian.” — Lee Strobel, The Case for Christ

The Case for Christ Lecture: https://youtu.be/67uj2qvQi_k

Good News: https://www.goodnewsnetwork

  

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Reeq
Member since Mar 11th 2013
10645 posts
Mon Aug-24-20 10:19 AM

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5. "oh God you one of these dudes now? lol."
In response to Reply # 0


  

          

------

  

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Case_One
Charter member
54567 posts
Mon Aug-24-20 10:56 AM

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6. "Like it's a bad thing. Playa I've been trying to get OKP in the game"
In response to Reply # 5


  

          

Jokers you to clown me because of it, but now we're in our 40's and cats are looking at the fact they only may see 40 more Summers.



.
.

“It was the evidence from science and history that prompted me to abandon my atheism and become a Christian.” — Lee Strobel, The Case for Christ

The Case for Christ Lecture: https://youtu.be/67uj2qvQi_k

Good News: https://www.goodnewsnetwork

  

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Mori
Charter member
3415 posts
Mon Aug-24-20 01:36 PM

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24. "Everybody should be one of "those dudes""
In response to Reply # 5


          

Investing is the only way to keep the value of the dollar in the long term.

Case is dropping keys to the future. Our economy is changing. Work has definitely changed.

Rise & Shine
Thrive & Grind
Heart & Mind

  

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PimpTrickGangstaClik
Member since Oct 06th 2005
14877 posts
Mon Aug-24-20 11:02 AM

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7. "You need to diversify"
In response to Reply # 0


  

          

If those companies are all you're invested in, you are exposed to a lot of unnecessary risk.

You shouldn't be 100% in one sector

_______________________________________
You ain't the only one whose got problems. You ain't the only one who knows pain. Get up off your ass and just solve them. You still got a chance to try to change, try the shit again.
Devin tha Dude

  

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seasoned vet
Member since Jul 29th 2008
5532 posts
Mon Aug-24-20 11:17 AM

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9. "shut yo ‘you need to diversify your bonds nigga’ ass up"
In response to Reply # 7


  

          

hes trying
hes learning
through practice and reading he’ll get it

  

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PimpTrickGangstaClik
Member since Oct 06th 2005
14877 posts
Mon Aug-24-20 11:24 AM

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11. "*shrug* It's advice to him"
In response to Reply # 9


  

          

He can take it or leave it.

I applaud him for learning

_______________________________________
You ain't the only one whose got problems. You ain't the only one who knows pain. Get up off your ass and just solve them. You still got a chance to try to change, try the shit again.
Devin tha Dude

  

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Case_One
Charter member
54567 posts
Mon Aug-24-20 11:24 AM

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10. "Not really over exposed. But appreciate your comment"
In response to Reply # 7


  

          

>If those companies are all you're invested in, you are
>exposed to a lot of unnecessary risk.
>
>You shouldn't be 100% in one sector

That's just one of my long-term self-directed IRA accounts and those stock have been preforming for the last 5 to 10 years. And as I said, I'm still building it. I have several brokerage accounts on other platforms and a managed account that I pay a brokerage so managed.


What sectors are you in?


  

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PimpTrickGangstaClik
Member since Oct 06th 2005
14877 posts
Mon Aug-24-20 11:28 AM

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12. "Aight cool"
In response to Reply # 10


  

          

No sectors for me. Just low cost, broad index mutual funds.

Vanguard Total Stock Market
Midcap Value
Target 2050 fund
And a little in their total international fund

_______________________________________
You ain't the only one whose got problems. You ain't the only one who knows pain. Get up off your ass and just solve them. You still got a chance to try to change, try the shit again.
Devin tha Dude

  

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Case_One
Charter member
54567 posts
Mon Aug-24-20 11:36 AM

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15. "Vanguard Total Stock Market is the truth for the long term "
In response to Reply # 12


  

          



.
.

“It was the evidence from science and history that prompted me to abandon my atheism and become a Christian.” — Lee Strobel, The Case for Christ

The Case for Christ Lecture: https://youtu.be/67uj2qvQi_k

Good News: https://www.goodnewsnetwork

  

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PimpTrickGangstaClik
Member since Oct 06th 2005
14877 posts
Mon Aug-24-20 11:11 AM

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8. "You're not going to get "wealthy" just with the stock market"
In response to Reply # 0
Mon Aug-24-20 11:16 AM by PimpTrickGangstaClik

  

          

You have to have serious money to make serious money.


Putting a few $100 dollars a month in investments is good. I encourage everyone to do it if they can. It can set you up for a more comfortable retirement.


But you aren't going to big ballin or anything. That's why I don't like the language of "building wealth" in this context.

_______________________________________
You ain't the only one whose got problems. You ain't the only one who knows pain. Get up off your ass and just solve them. You still got a chance to try to change, try the shit again.
Devin tha Dude

  

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Case_One
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54567 posts
Mon Aug-24-20 11:29 AM

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13. "Did you read anything I said?"
In response to Reply # 8


  

          

I actually pointed out several ways to make money in the market, not just stock. I know cats pulling in 5G's a week on Forex and 2G week on Options. But that's not everyone off the rip. You have to start somewhere and become socialize to the idea and psychology of trading and investing. And then, you can start to slam big money down.




.
.

“It was the evidence from science and history that prompted me to abandon my atheism and become a Christian.” — Lee Strobel, The Case for Christ

The Case for Christ Lecture: https://youtu.be/67uj2qvQi_k

Good News: https://www.goodnewsnetwork

  

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Mori
Charter member
3415 posts
Mon Aug-24-20 01:42 PM

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26. "Black Americans are Conditioned to Work for free"
In response to Reply # 13


          

I tried to share investing tips with SOOOO many of my black friends. Most are addicted to promotions, cash in hand and seeing a paycheck.

It is really hard to convince people of the investment pathway to success. It seems to easy. And truly it is too easy. We have just not been given a pathway to wealth.

We are used to working, usually for free.

Rise & Shine
Thrive & Grind
Heart & Mind

  

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legsdiamond
Member since May 05th 2011
67184 posts
Mon Aug-24-20 11:59 AM

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16. "Lmao"
In response to Reply # 8


          

You know damn well ain’t no one trying to click on “make a few bucks in the stock market” when they start these post.

Half the people on this board are ballin’

Let this man cook.. lol.

****************
TBH the fact that you're even a mod here fits squarely within Jag's narrative of OK-sanctioned aggression, bullying, and toxicity. *shrug*

  

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Case_One
Charter member
54567 posts
Mon Aug-24-20 12:08 PM

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18. "Man, I'm just tired of seeing folks struggle. Buth hey. Go figure. "
In response to Reply # 16


  

          


.
.

“It was the evidence from science and history that prompted me to abandon my atheism and become a Christian.” — Lee Strobel, The Case for Christ

The Case for Christ Lecture: https://youtu.be/67uj2qvQi_k

Good News: https://www.goodnewsnetwork

  

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Mori
Charter member
3415 posts
Mon Aug-24-20 01:40 PM

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25. "False- Most millionaires make money from 401k"
In response to Reply # 8


          

The stock market can absolutely make you rich. I know people who invested at 20 years old with only $1000 and a little per paycheck who are now millionaires, based on investments.

Statistically, most millionaires are measured on their 401k, you don't need a ton of money to get rich. You need to consistently invest and rebalance your account.

https://www.cnbc.com/2019/08/21/the-number-of-401k-millionaires-hits-an-all-time-high.html

I can attest to watching my investments grow dramatically and I only started by putting $50/paycheck in my 401k and investing in 90 percent equities.

Rise & Shine
Thrive & Grind
Heart & Mind

  

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PimpTrickGangstaClik
Member since Oct 06th 2005
14877 posts
Mon Aug-24-20 02:06 PM

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29. "But you eventually graduated from $50's to $1000s, right?"
In response to Reply # 25


  

          

And I wouldn't consider 401k millionaires wealthy.


>The stock market can absolutely make you rich. I know people
>who invested at 20 years old with only $1000 and a little per
>paycheck who are now millionaires, based on investments.
>
>Statistically, most millionaires are measured on their 401k,
>you don't need a ton of money to get rich. You need to
>consistently invest and rebalance your account.
>
>https://www.cnbc.com/2019/08/21/the-number-of-401k-millionaires-hits-an-all-time-high.html
>
>I can attest to watching my investments grow dramatically and
>I only started by putting $50/paycheck in my 401k and
>investing in 90 percent equities.

_______________________________________
You ain't the only one whose got problems. You ain't the only one who knows pain. Get up off your ass and just solve them. You still got a chance to try to change, try the shit again.
Devin tha Dude

  

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Mori
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3415 posts
Mon Aug-24-20 02:47 PM

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38. "Why aren't 401k millionaires wealthy? "
In response to Reply # 29


          

I maxed out my roth at $6000/year
I matched my work 401k? The thousands are incremental.

You don't need a lot of money to build wealth.

I am curious, why aren't 401k's millionaires wealthy? My ex boyfriend (non black) got a payout from his grandfather's 401k when he died. My ex bf was like 10th down the line to get paid and still got 10k. That is how much his grandad's 401k had amassed!

That is definitely wealth.

Rise & Shine
Thrive & Grind
Heart & Mind

  

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legsdiamond
Member since May 05th 2011
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43. "Lmao at letting us know he wasn’t Black"
In response to Reply # 38


          

Such an odd detail but whatever.

For the record my Black ass grandfather left me 10K and he had way more than 10 grandkids... about 15 or 16

****************
TBH the fact that you're even a mod here fits squarely within Jag's narrative of OK-sanctioned aggression, bullying, and toxicity. *shrug*

  

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Mori
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44. "Will you leave your grandkids 10k+?"
In response to Reply # 43


          

The point is that wealth building requires long term planning, thinking and in some cases inheritance.

I am not sure what your grandad did. But kudos to him for thinking about his descendants. Did you take that 10k and invest it, buy a home or pay off bills?

I am not judging or shaming but pointing out that often non black people do have an inheritance. Most black people I know pay off debt with an inheritance.

We have opportunities to grow wealth, many of us choose short term gratification.

Stocks, 401k, life insurance, estate planning and an inheritance should be common knowledge by the time every person is 25 years old. I didn't learn everything until I was about 35. But I did invest early which is a good head start.

Rise & Shine
Thrive & Grind
Heart & Mind

  

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legsdiamond
Member since May 05th 2011
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52. "I used some of that 10K to buy our first house"
In response to Reply # 44


          

and we just did a refi for a 10 year loan.

I have a 3 and a 4 year old and they already have a nice amount saved away for their college funds.

I damn sure expect to leave my kids a lot more than my parents and grandparents left us. House will be paid off before they go to college and the plan is to buy another property as well. Now that our kids aren’t in daycare our finances are looking lovely. I know this won’t last forever and kids will have other expenses but if we can save 60% of what we spend on daycare and invest it we should see a nice return over the next 10 years.

I’ve been blessed to marry into a family that knows the value of owning property. My wife’s fam owns a ton of property and I’m leaning on them for the best way to win. My FIL is a retired Nuclear Engineer so he is caked up and my MIL owns a few properties and knew exactly when to sell investment properties right before the bubble burst.

I definitely wish I would’ve invested back in 2008 when I had a few stacks but I had no idea about diving into the market right after it crashed. That shit sounded wild dumb back then but of course.. I was younger and trying to have fun instead of thinking long term.

****************
TBH the fact that you're even a mod here fits squarely within Jag's narrative of OK-sanctioned aggression, bullying, and toxicity. *shrug*

  

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PimpTrickGangstaClik
Member since Oct 06th 2005
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47. "Damn you think that little of black folks?"
In response to Reply # 43


  

          

_______________________________________
You ain't the only one whose got problems. You ain't the only one who knows pain. Get up off your ass and just solve them. You still got a chance to try to change, try the shit again.
Devin tha Dude

  

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Mori
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49. "Average net worth of black people is $46k"
In response to Reply # 47


          

https://www.brookings.edu/blog/up-front/2020/02/27/examining-the-black-white-wealth-gap/

This is for people over the age of 45. Most black people 40 and under have a net worth of $0.

Now I don't think humans can be summed up in a dollar figure. But if we want to increase our value, we must re-educate ourselves about money.

Money is not stressful or confusing. It just requires a strategy and early information. I know high earning black people who have barely any money in savings. "Wealthy" black athletes have proven that even a millionaire income cannot guarantee long term wealth.

Rise & Shine
Thrive & Grind
Heart & Mind

  

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Case_One
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50. "Don’t try that. Amorim is spitt’in facts."
In response to Reply # 47


  

          


https://news.wttw.com/2020/06/10/study-black-families-have-1-cent-every-dollar-white-families-have



“It was the evidence from science and history that prompted me to abandon my atheism and become a Christian.” — Lee Strobel, The Case for Christ

The Case for Christ Lecture: https://youtu.be/67uj2qvQi_k

Good News: https://www.goodnewsnetwork

  

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Case_One
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51. "RE: Don’t try that. Mori is spitt’in facts."
In response to Reply # 50


  

          


.
.

  

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PimpTrickGangstaClik
Member since Oct 06th 2005
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46. "Because the 401k is for spending"
In response to Reply # 38


  

          

If you got a million in your 401k, all you've done is ensured that you can withdraw about 45k a year for 20 years after you retire. That is not wealthy living.

Wealthy (to me at least) is having more than you plan to ever spend.



_______________________________________
You ain't the only one whose got problems. You ain't the only one who knows pain. Get up off your ass and just solve them. You still got a chance to try to change, try the shit again.
Devin tha Dude

  

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Mori
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48. "Your 401k is just one part of your future income"
In response to Reply # 46


          

You should have a pension if you've been working for 25 years.
You should get social security.
Your home and car should be paid off.

If you are collecting 45k on top of everything else without having to work, I consider that wealthy. If you can leave something to your children and still enjoy your golden years, health, partner and hobbies, I consider that wealthy.

Not sure if you are talking Jayz beyonce, Richard Branson wealth or millionaire next door wealth.

Rise & Shine
Thrive & Grind
Heart & Mind

  

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legsdiamond
Member since May 05th 2011
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Tue Aug-25-20 08:42 AM

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53. "Yeah.. if I don’t have a house, car or any bills besides utilities "
In response to Reply # 48
Tue Aug-25-20 08:59 AM by legsdiamond

          

45K.. on top of other investments is wealthy to me as a retiree.

But see.. we got people in here using celebrities and billionaires as the barometer for wealth.

If we can have our house paid off in 10 years and invest that money on top of what we are already investing? We will be straight.

****************
TBH the fact that you're even a mod here fits squarely within Jag's narrative of OK-sanctioned aggression, bullying, and toxicity. *shrug*

  

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PimpTrickGangstaClik
Member since Oct 06th 2005
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54. "How are you wealthy if you can't afford a deluxe apartment in the sky?"
In response to Reply # 53


  

          

That's living, comfortably.

Y'all putting all these if, ands, and buts in it. And that's the point.
A wealthy person isn't a mortgage or car payment away from being not wealthy.

_______________________________________
You ain't the only one whose got problems. You ain't the only one who knows pain. Get up off your ass and just solve them. You still got a chance to try to change, try the shit again.
Devin tha Dude

  

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legsdiamond
Member since May 05th 2011
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55. "The point is not having to stress about money and bills"
In response to Reply # 54


          

and when you no longer have any bills besides utilities you have the flexibility to do much more than the average American.

I think America spends so much time comparing themselves to the top 5% they forget about the bottom 75% who would love to have 45K a year in retirement just from a 401K.

A person with that much an a 401K surely has other investments as well.

****************
TBH the fact that you're even a mod here fits squarely within Jag's narrative of OK-sanctioned aggression, bullying, and toxicity. *shrug*

  

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Mori
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56. "You will need passive income in old age, wealthy or not"
In response to Reply # 55


          

There is no debate here. Regardless if you are rich or poor. You need to save and invest that savings.

If you never get rich, wealthy, affluent, 1%, then so be it. But you will absolutely need another source of income as you crest over 55 years old. Better to plan now then wait until it is too late.

My goal is not to be rich. Being rich or wealthy is not the end all to the human experience. I prefer to have perfect health over money. But I also want to have a steady flow of cash, a safe/stable home and to have fun with my loved ones.

If someone told you that by saving $50-100/month for 20 years, your 40 year old self would have $500k? Would you do it? Most likely yes. Now we are telling our 30-40 year old selves to save $100-$200/month for 20-30 years, so we can be comfortable in our 50's and 60's.

Why is this even an argument?

Rise & Shine
Thrive & Grind
Heart & Mind

  

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legsdiamond
Member since May 05th 2011
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58. "Yeah.. you always need another source of income"
In response to Reply # 56


          

****************
TBH the fact that you're even a mod here fits squarely within Jag's narrative of OK-sanctioned aggression, bullying, and toxicity. *shrug*

  

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seasoned vet
Member since Jul 29th 2008
5532 posts
Tue Aug-25-20 02:23 PM

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59. "1. bc our culture doesnt embrace economics"
In response to Reply # 56


  

          

2. we do a poor job of presenting the information by not considering the audience

for example, finance people often speak in terms of, for just X amount per month or per day. well, people dont save per month or per day, they save per paycheck

to someone thats not used to saving (forget about investing), $25 to $50 per paycheck sounds a lot better than $50 to $100 per month. they can visualize per paycheck better than per month

im writing a book now that addresses these communication issues

  

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legsdiamond
Member since May 05th 2011
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61. "You have to stop saying this shit fam. You are part of the culture"
In response to Reply # 59


          

Stop saying we don’t embrace economics.

Plenty of us do

Just present the info and let those who want to use it.. use it.

One thing I realized is to pay myself first. Waiting until all the bills are paid or investing what’s left at the end of the pay period is a bad idea. That money usually gets spent if it’s in the checking account.



****************
TBH the fact that you're even a mod here fits squarely within Jag's narrative of OK-sanctioned aggression, bullying, and toxicity. *shrug*

  

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seasoned vet
Member since Jul 29th 2008
5532 posts
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62. "plenty do, the majority dont. "
In response to Reply # 61


  

          

he asked WHY its even an argument
well, thats WHY

should i mute the reason because of how it looks on paper?

we run from math
our kids run from math in college
we ignore economics
and think its just going to happen for us

the book im writing IS presenting the info
is it not?

this is a DISCUSSION
he asked, i answered

i believe economics is THE KEY to change everything within our culture
the one thing we overlook for every other direct solution
im not going to keep that to myself because our culture is uncomfortable talking about it

did you really think i dont consider myself a part of our culture?

like you said, think about who you’re talking to.
someone who has said numerous times here that looking in the mirror can sometimes produce the change you keep asking for

  

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Mori
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39. "Why aren't 401k millionaires wealthy? "
In response to Reply # 29


          

I maxed out my roth at $6000/year
I matched my work 401k? The thousands are incremental.

You don't need a lot of money to build wealth.

I am curious, why aren't 401k's millionaires wealthy? My ex boyfriend (non black) got a payout from his grandfather's 401k when he died. My ex bf was like 10th down the line to get paid and still got 10k. That is how much his grandad's 401k had amassed!

That is definitely wealth.

Rise & Shine
Thrive & Grind
Heart & Mind

  

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legsdiamond
Member since May 05th 2011
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Mon Aug-24-20 03:48 PM

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41. "5.8% of Americans are millionaires. "
In response to Reply # 29


          

We really need to stop shrugging at being a millionaire like it’s normal.

****************
TBH the fact that you're even a mod here fits squarely within Jag's narrative of OK-sanctioned aggression, bullying, and toxicity. *shrug*

  

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Mori
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Mon Aug-24-20 05:38 PM

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45. "Millionaires wil be normal by the year 2050"
In response to Reply # 41


          

Most of us will be in our 60s and or 70s. If we are not millionaires by then, we can only blame ourselves. The map is clearly laid out on how to have wealth in old age.

Barring any unpredictable financial pitfalls, saving, investing and spending less is a no brainer for financial security.

Rise & Shine
Thrive & Grind
Heart & Mind

  

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double 0
Member since Nov 17th 2004
6794 posts
Mon Aug-24-20 11:32 AM

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14. "Any Day Traders in here?"
In response to Reply # 0


          

learning some basics and paper-trading in thinkorswim... but would obvs love to connect and learn more...

Double 0
DJ/Producer/Artist
Producer in Kidz In The Hall
-------------------------------------------
twitter: @godouble0
IG: @godouble0
www.thinklikearapper.com

  

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Case_One
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17. "Since it's so many smart folks in here, why ya'll ain't teaching lessons"
In response to Reply # 0


  

          

Like, I make a post about getting money and folks come out the woodwork to take passive jabs or to advise, but have never posted up a single link for any lessons or volunteered to teach anyone. Like get on with that mess.

It's time to stop trying to One-Up folks and start helping people. Te economy damn near crashed into the ocean and folks are lost out her struggling, while folks in the market got rich in March after stocks fell and everyone in the market went on a buying spree.






.
.

“It was the evidence from science and history that prompted me to abandon my atheism and become a Christian.” — Lee Strobel, The Case for Christ

The Case for Christ Lecture: https://youtu.be/67uj2qvQi_k

Good News: https://www.goodnewsnetwork

  

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Mori
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27. "You can't make people drink"
In response to Reply # 17


          

I have learned the hard way that many people are comfortable with a certain mindset.

I share information and walk away. I now realize why wealthy people don't spend too much time around low income people. It is a mindset.

I am right there with you!

Rise & Shine
Thrive & Grind
Heart & Mind

  

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Case_One
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31. "You are preaching that Gospel. "
In response to Reply # 27


  

          

>I have learned the hard way that many people are comfortable
>with a certain mindset.
>
>I share information and walk away. I now realize why wealthy
>people don't spend too much time around low income people. It
>is a mindset.
>
>I am right there with you!


The market is a great way to become financially independent and work for yourself. You can treat investing like a career and still have time to do what you want. We have been trained to WORK for MONEY as slaves for others, while the others have been coached on how to put their MONEY TO WORK for them.





.
.

“It was the evidence from science and history that prompted me to abandon my atheism and become a Christian.” — Lee Strobel, The Case for Christ

The Case for Christ Lecture: https://youtu.be/67uj2qvQi_k

Good News: https://www.goodnewsnetwork

  

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double negative
Member since Dec 14th 2007
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19. "actually - OKP helped me make thousand off apple"
In response to Reply # 0


  

          

back in 2016 when AAPL dipped to 90 someone here, might have been case or someone said "good time to buy"

I bought a few shares and kept buying - I'm only at about 9 shares but that teeny amount lead to a gain of about 2.5k - PLUS with the upcoming split...I'm looking good. it was free money for doing nothing but holding my nuts.

***********************************************************
https://soundcloud.com/swageyph/yph-die-with-me

  

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Case_One
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20. "That's a good move. "
In response to Reply # 19


  

          


.
.

“It was the evidence from science and history that prompted me to abandon my atheism and become a Christian.” — Lee Strobel, The Case for Christ

The Case for Christ Lecture: https://youtu.be/67uj2qvQi_k

Good News: https://www.goodnewsnetwork

  

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legsdiamond
Member since May 05th 2011
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Mon Aug-24-20 01:04 PM

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21. "I wish I jumped on Tesla back when people in here were hyping it up"
In response to Reply # 19


          

I got some, but mad late..

I have a Berkshire fund so I have some apple stocks in it..


****************
TBH the fact that you're even a mod here fits squarely within Jag's narrative of OK-sanctioned aggression, bullying, and toxicity. *shrug*

  

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Case_One
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22. "I kicked myself for missing Tesla, pumped faked at 1300+ and "
In response to Reply # 21


  

          

Jumped in made late at around 1800+ for 1 share. That 5:1 Slit will be sweet. I had to take the long view and stop pumping Kool-Aid.


.
.

“It was the evidence from science and history that prompted me to abandon my atheism and become a Christian.” — Lee Strobel, The Case for Christ

The Case for Christ Lecture: https://youtu.be/67uj2qvQi_k

Good News: https://www.goodnewsnetwork

  

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jimi
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Mon Aug-24-20 02:06 PM

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28. "yeah I remember that Tesla post.. ugh"
In response to Reply # 21


  

          

I'm still kicking myself over that one..

  

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double negative
Member since Dec 14th 2007
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36. "Nah, you made the right move. "
In response to Reply # 21


  

          

Remember back then, people were reeeeeally skeptical about the company and for good reason.

I think it was back in 2014 up to about 2016 when it was yo-yoing so much. Folks got in, folks got off, folks got in, folks got off. You had to have really have some deep faith to ride that out.

***********************************************************
https://soundcloud.com/swageyph/yph-die-with-me

  

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legsdiamond
Member since May 05th 2011
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42. "No I didn’t. "
In response to Reply # 36


          

Making the right move is not buying some shit that tanks..

Wasn’t like I would’ve invested all my money but if I put some of it in Tesla and kept feeding it.. smh



****************
TBH the fact that you're even a mod here fits squarely within Jag's narrative of OK-sanctioned aggression, bullying, and toxicity. *shrug*

  

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kajsidog
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68. "Had the foresight to sell 4 @ ~$250 a year ago"
In response to Reply # 21


  

          

Had to replace the center screen in my Model S last year, slightly annoyed and sold some shares figuring I'd make them pay for it. That $1K is worth around $8,500 now.

Still have more (bought ~$220) but woof that hurt.

See ya, JAK
http://www.staugustinepics.com/

Winner of OKP Second Photo Kontest
Pic #6 http://www.tha-renaissance.com/effstop/kontest2

  

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Mori
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23. "Investing is no longer an option! Your future will depend on it"
In response to Reply # 0


          

I think Case is doing a great public service here. Investing will be our only social security, basic and/or universal income.

The stock market is now accessible to all via cash app, robinhood and all the other apps that now make day trading available. I am closing all my accounts with a brick and mortar bank and putting my money in online banks.


I notice that my portfolio now outpaces my salary. I have been investing since 2005. It took awhile but now my investments bring in $6000/month. I have not liquidated anything. But by the time I am 50, I will be able to maintain my current lifestyle based on my investments at a 4% withdrawal rate.

Jobs will no longer look like how they look now. College and education will be more about refining skills.

Everyone should have a stock market portfolio of at least $1000, a 401k, a roth IRA, bitcoin and a savings.

American money won't be worth much for long.

Rise & Shine
Thrive & Grind
Heart & Mind

  

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Case_One
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Mon Aug-24-20 02:11 PM

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32. "I'm done looking for jobs and working for other people."
In response to Reply # 23


  

          

In two years, I want to be putting my money to work for me and using money as tool to help build wealth.


.
.

“It was the evidence from science and history that prompted me to abandon my atheism and become a Christian.” — Lee Strobel, The Case for Christ

The Case for Christ Lecture: https://youtu.be/67uj2qvQi_k

Good News: https://www.goodnewsnetwork

  

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allStah
Member since Jun 21st 2014
2613 posts
Mon Aug-24-20 02:07 PM

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30. "Pretty good advice. Not bad."
In response to Reply # 0


          

However, remember. And this is a fact, 70-80 percent of traders lose money. So it is not a piece of cake, but you are in the right direction.

Key things. Don’t keep everything invested all the time. You must Know when to take profit, especially before earnings, because earnings could go either way. If earnings are bad , there will be a pullback. So know the earning dates of the stock you are invested in.

Dollar Cost Average and average down. By investing monthly or a certain amount instead of one lump sum, you will catch up and down price points which will give you price protection.

Always Hedge...always have a hedge.

People always think they can beat the market... no way. It is operated by super computers that run all types of formulas within microseconds. So long term is the best way to trade.

I Worked in the stock market for 6 years.

  

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Case_One
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33. "You're right. You should expect to lose money. "
In response to Reply # 30


  

          

>However, remember. And this is a fact, 70-80 percent of
>traders lose money. So it is not a piece of cake, but you are
>in the right direction.
>
>Key things. Don’t keep everything invested all the time. You
>must Know when to take profit, especially before earnings,
>because earnings could go either way. If earnings are bad ,
>there will be a pullback. So know the earning dates of the
>stock you are invested in.
>
>Dollar Cost Average and average down. By investing monthly or
>a certain amount instead of one lump sum, you will catch up
>and down price points which will give you price protection.
>
>Always Hedge...always have a hedge.
>
>People always think they can beat the market... no way. It is
>operated by super computers that run all types of formulas
>within microseconds. So long term is the best way to trade.
>
>I Worked in the stock market for 6 years.


GREAT COMMENTS. My goal is to build a well-balanced Stock portfolio for the long-term. I'm not pulling anything out of that one for at least 3 to 5 yrs. On the other side, I want to keep learning how to trade and get really good at trading Forex. My wife is learning Options. I still take the options training with her, but I want to be focused on the Forex like a pro.


THANKS FOR DROPPING THE SCIENCE!


  

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allStah
Member since Jun 21st 2014
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Mon Aug-24-20 02:30 PM

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34. "Stay away from Forex!"
In response to Reply # 33
Mon Aug-24-20 02:31 PM by allStah

          

If people tell you they are successful at it, they are lying.

You can lose everything in seconds because of flash crashes that will jump your stop loss order. Forex is straight gambling. You have to get in and get out, and it’s based on heavy news and info, which leads to flash crashes( crash big for seconds to minutes then go back up).

Options are pretty safe because you can’t lose more than what you put in , and you have weeks to months ( depending on the length of the option) for the option to be in the money.

Just make sure you understand the Greeks when dealing with options, especially the delta and gamma... time decay is important. But it is definitely a safe investment.

Good luck, and don’t let anyone talk you out of your plan, as long as it is well calculated.
Warren Buffet makes billions just by buying stock of good companies and holding.

“ the stock market is patient people making money off of impatient people”

  

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Case_One
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35. "I've heard about the Forex stories. Question."
In response to Reply # 34


  

          

Do you think that people lose all their money on Forex because of greed and the lack of using proper Risk Management (Stop Loss, improper lots, % of investment, ect.)? Or, do people lose all their money because the market is so volatile?


Thanks for the caution too.



  

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allStah
Member since Jun 21st 2014
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40. "RE: I've heard about the Forex stories. Question."
In response to Reply # 35


          

All the above.

Most people try to scalp a few points here and a few points there, and stick to that discipline.

It’s been years since I traded it, but I had it set up where I would have my take profit at a bigger gap than my stop loss. You want want your losses to be short, no more than 10 to 15 percent.

So let’s say for every point I’m gaining ten cents, I would have my take profit at 50 to 100 points (5 to 10 dollars) for each trade or order, with a goal of making 20 to 50.00 a day. And then my stop loss would be at 15 to 30 points, usually no more than 15 points, which would be a 1.50 to 3.00 a loss

You got cats trading shit at like 5 to 10.00 a point !! Thinking greed, then a flash crash happens and wipes them out, and then a margin call is put out.

If you do trade forex, go small ( cents not dollars)!! And do no more than 3 trades a day.

  

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Case_One
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57. "Great advice. May not trade Forex until Dec. Options are the way"
In response to Reply # 40
Tue Aug-25-20 02:04 PM by Case_One

  

          

>All the above.
>
>Most people try to scalp a few points here and a few points
>there, and stick to that discipline.
>
>It’s been years since I traded it, but I had it set up where
>I would have my take profit at a bigger gap than my stop
>loss. You want want your losses to be short, no more than 10
>to 15 percent.
>
>So let’s say for every point I’m gaining ten cents, I
>would have my take profit at 50 to 100 points (5 to 10
>dollars) for each trade or order, with a goal of making 20 to
>50.00 a day. And then my stop loss would be at 15 to 30
>points, usually no more than 15 points, which would be a 1.50
>to 3.00 a loss
>
>You got cats trading shit at like 5 to 10.00 a point !!
>Thinking greed, then a flash crash happens and wipes them out,
>and then a margin call is put out.
>
>If you do trade forex, go small ( cents not dollars)!! And do
>no more than 3 trades a day.


.
.

“It was the evidence from science and history that prompted me to abandon my atheism and become a Christian.” — Lee Strobel, The Case for Christ

The Case for Christ Lecture: https://youtu.be/67uj2qvQi_k

Good News: https://www.goodnewsnetwork

  

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ThaTruth
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66. "yeah I've had a couple of people talk to me about FOREX..."
In response to Reply # 34


          

and they're supposedly making money but I never got the details...


This one chick I know was talking about how easily she makes money throughout the day on her phone and I asked how and she sent me a link to this dude I was skeptical...https://www.youtube.com/watch?v=K-PrqIqokj4

  

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legsdiamond
Member since May 05th 2011
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Thu Aug-27-20 08:20 AM

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79. "It’s starting to get that pyramid scheme stench "
In response to Reply # 66


          

One of those products where people claim they are making a ton of money but never show their work.

People think they can jump in cold and cake up.

****************
TBH the fact that you're even a mod here fits squarely within Jag's narrative of OK-sanctioned aggression, bullying, and toxicity. *shrug*

  

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ThaTruth
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83. "yeah I'm suspicious of anything based on getting others to "sign up""
In response to Reply # 79


          

  

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Case_One
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87. "Why do you think starting to get that pyramid scheme stench "
In response to Reply # 79


  

          

Wealthy people and White People have been playing for FOREX for decades and no one ever compared to a pyramid scheme. The moment Black People start doing it, now it’s a scheme or some kind of magical trickery. Help me understand what you mean by this bro.
.

“It was the evidence from science and history that prompted me to abandon my atheism and become a Christian.” — Lee Strobel, The Case for Christ

The Case for Christ Lecture: https://youtu.be/67uj2qvQi_k

Good News: https://www.goodnewsnetwork

  

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legsdiamond
Member since May 05th 2011
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Sat Aug-29-20 08:12 PM

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92. "Forex is legit but the hype and new “experts” recruiting people.."
In response to Reply # 87


          

is where the pyramid stench is strong.





****************
TBH the fact that you're even a mod here fits squarely within Jag's narrative of OK-sanctioned aggression, bullying, and toxicity. *shrug*

  

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sectachrome86
Member since Dec 22nd 2007
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Tue Aug-25-20 02:42 PM

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60. "Buying individual stocks is fun"
In response to Reply # 0
Tue Aug-25-20 02:42 PM by sectachrome86

          

But most of my investment money is in index funds and some bonds. Especially for a noob, index funds are the way to go.

-------------------------------------------------
http://www.soundcloud.com/sectachrome

  

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kajsidog
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71. "This is where I ended up too."
In response to Reply # 60
Wed Aug-26-20 09:42 PM by kajsidog

  

          

When I had more time I started off with individual stocks but it can get tough to find things worth buying when the market's doing well and I always struggled with selling.

I still have a couple individual stocks for excitement. But my index fund (VTSAX-super low fees are crucial) is automated to invest every two weeks regardless of my emotions. Occasionally will buy extra after big drops or if my bank account gets too big. Compounding interest is magic as long as I don't overthink it. Sometimes I'll sell to pay cash for big purchases. (Used car, metal roof, solar panels, etc.) Everything's going well and I have more time to not stress about it.

See ya, JAK
http://www.staugustinepics.com/

Winner of OKP Second Photo Kontest
Pic #6 http://www.tha-renaissance.com/effstop/kontest2

  

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double negative
Member since Dec 14th 2007
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77. "RIGHT. my real money is in funds, individual stocks are for play"
In response to Reply # 60


  

          

as in, the money I am leaning my future on is all in aggressive/boring/boringly aggressive/aggressively boring ETFs

individual stocks, crypto, alternative stuff is money I DCA'd out to stack and fuck around with, if gains are made...great! If loses are high, I would be mad but ultimately over it.

***********************************************************
https://soundcloud.com/swageyph/yph-die-with-me

  

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Case_One
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63. "WOW! salesforce.com, inc. (CRM) Closed $216.05 and Opened $251.96"
In response to Reply # 0


  

          

https://finance.yahoo.com/quote/CRM?p=CRM&.tsrc=fin-srch
.

“It was the evidence from science and history that prompted me to abandon my atheism and become a Christian.” — Lee Strobel, The Case for Christ

The Case for Christ Lecture: https://youtu.be/67uj2qvQi_k

Good News: https://www.goodnewsnetwork

  

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sectachrome86
Member since Dec 22nd 2007
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115. "I should have sold at $280, fuck"
In response to Reply # 63


          

-------------------------------------------------
http://www.soundcloud.com/sectachrome

  

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Case_One
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64. "The top 10% own 81% of stock wealth,... and the bottom 80% own 8%."
In response to Reply # 0


  

          

Who Owns Stock in America? The Answer May Surprise You
Jim Wang
Updated March 10, 2020
Some links below are from our sponsors. Here's how we make money.

One of the fascinating parts about the stock market is that practically everyone with an opinion about it is, more or less, right.

Is it a good way to build wealth? Yes.

Can it ruin fortunes? Also, yes.

Is it a Ponzi scheme? Kind of, in the sense that part of the reason it keeps going up is that there's more money flowing into the markets than out of it.

Are there better options? With the same liquidity and risk levels, there aren't many (if any?) better choices. Unless you pick thinly traded shares, you can usually exit a pedestrian-sized position in seconds. Try that with real estate or any other asset.

Given all that, you'd expect the stock market to be popular and for there to be a lot of participation. But, as you'd also expect, you need discretionary money if you want to invest in the stock market. You have to satisfy the more pressing needs in Maslow's hierarchy before you can put it in an index fund at Vanguard.

So, who do you think owns stock in America?

Our Data Sources
A great source of this information is the Federal Reserve's Survey of Consumer Finances (SCF). The most recent SCF dataset was released for 2016. We use this data when we looked at how millionaires made their money – it contains a lot of juicy information you can't find (reliably) anywhere else.

The relevant section for us has to do with the ownership of financial assets. Financial assets include everything from checking and savings accounts to retirement accounts, life insurance, and other managed assets. We drill down into the section that includes ownership of publicly traded securities.

Only 51.9% of Families Own Stock
When you look at the entire population of the United States, fewer than 52% of families own stock. They can own it through a taxable brokerage account or a retirement account, but only 51.9% own any stock whatsoever.

The telling statistics is how this changes based on your percentile of usual income (Table 7 of the SCF spreadsheet):

Of the top 10% of income earners, 94.7% own stock.
Of the 80-89.9% percentile of income, 85.3% own stock.
Of the 60-79.9% percentile of income, 73.6% own stock.
Of the 40-59.9% percentile of income, 51.8% own stock.
Of the 20-39.9% percentile of income, 32.5.6% own stock.
Of the bottom 19.9% percentile of income, just 11.6% own stock.
As for the median value of those holdings? For all families, the median is $40,000.

The breakdown is:

Of the top 10% of income earners, the median value is $363,400
Of the 80-89.9% percentile of income, the median value is $81,200
Of the 60-79.9% percentile of income, the median value is $32,400
Of the 40-59.9% percentile of income, the median value is $15,000
Of the 20-39.9% percentile of income, the median value is $10,000
Of the bottom 19.9% percentile of income, the median value is $6,000
(recall, the median income in the United States is just $63,179)

This shouldn't be surprising though. When the poverty line for a family of four in the lower 48 is $26,200, that doesn't leave much room for investing in stocks. You're too busy paying for housing, food, clothing, etc.

Most Hold Stock in Retirement Accounts
When it comes to ownership, 87.8% of those who held stock did so in a tax-deferred retirement account like an IRA or 401(k).

Only 26.9% owned individual shares of stock while 18.9% invested in a “pooled investment fund,” such as an index or mutual fund. Lastly, you had managed investment accounts, trusts, and annuities ownership at just 7.3%.

Where Do People Put Their Money?
If so few people own stock, and those that do own stock mostly hold it in retirement accounts, where do people keep their money?

Turns out the answer is not “in their mattress.”

Here's the breakdown of what assets Americans have: See LINK https://wallethacks.com/stock-ownership-in-america/ Table 3. Holding and values of assets, 2013 and 2016 surveys

You have to read that table very carefully. The “Percent holding” columns in the table above shows the number of people who have a particular asset – such as a vehicle, home, CD, etc. This isn't a measure of how much of their net worth is in a particular asset. In the columns above, in 2016, 98.5% of Americans have a financial asset of any kind.

The next two grouped columns, Conditional median value and Conditional mean value, explain the amounts in those asset types. In 2016, the Americans had a median of $23,500 in financial assets and $158,900 in nonfinancial assets.

What can we learn from this data?
For financial assets, almost everyone has a transaction account (checking, savings, etc.) and only half of all people have a retirement account. The next biggest category is 19.4% of Americans having a cash value life insurance policy.

The amounts are quite telling.

First, look at the massive difference between the conditional median and conditional mean! In the “Any financial asset” row, the median value is $23,500 whereas the mean value is $340,000! This shows there's a significant concentration in wealth. As the old joke goes, whenever Bill Gates walks into the room, the average person in that room is now a millionaire!

Once you get past that, we find a few items that confirm what we've known from other data sources. Primary residence and residential property make up a significant portion of one's net worth. From our look at average net worth, we know that most Americans have the majority of the net worth locked away in their home.

We also see a slip in the nonfinancial asset category where only 63.7% of Americans own a primary residence. That's down from 65.2% in 2013. Fewer people own homes. This is a trend that is likely to continue as older Americans downsize and younger Americans delay or avoid homeownership.

Another gem? 85.2% own a vehicle, which is the most commonly held nonfinancial asset.

13% of Americans own business equity, which is any privately held business, a rise from 11.7%. More Americans with businesses as starting a business have become increasingly easier and entrepreneurship gains in popularity.

Conclusions
Building wealth is difficult but it's made harder given the financial scenario many young people are in. The SCF also discusses other areas of American's financial lives and one such area is debt and debt burden. Overall debt obligations decreased from 2013 to 2016 with one exception – education debt (yes, student loans). That exploded.

Median debt declined by 4% in those three years but the median value of education loans rose by 15% (from $16,500 to $19,000). The mean value rose 15% too, from $29,800 to $34,200. The share of families with education loans also increased from 20% to 22.4%. If you look at the outstanding student loans, courtesy of the St. Louis Fed, we're looking at a total of over $1.636 trillion (as of January 8th, 2020).

We see this in our low rates of stock ownership, decreasing rates of homeownership, and other social measures like when people choose to get married, start a family, etc. These traditional milestones are being delayed for a variety of reasons but when it comes to the financial ones, it's hard to invest when you are carrying around an education debt. That's likely why we see high rates of retirement assets but relatively lower rates for non-retirement investments.

This also means that when we conflate the economy with the stock market, only half of all Americans participate. The stock market might be hitting record levels but for half of Americans, it doesn't matter. For the other half, many likely have such low levels of market holdings that it won't have an impact even given the rise.

We see this in the data in several places. If you look at the before-tax family income, distributed by income sources, by percentile of net worth, we see the following breakdown:

Amount of before-tax family income, distributed by income sources, by percentile of net worth, 2016 surveys

Of the bottom 75% of Americans, less than 1% of their income was derived from interest, dividends, or capital gains. Compare that to the top 10%, where 18.5% of their income came from interest, dividends, and capital gains!

When the stock market goes up, 75% of the Americans don't participate in any meaningful way.

  

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WarriorPoet415
Member since Sep 30th 2003
17670 posts
Wed Aug-26-20 10:05 AM

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65. "Smart move because it's also race-neutral. "
In response to Reply # 0


  

          

Just read an article today about a family that got a low housing appraisal. Then they took all the black art and pictures of black family members out of their house. They got another appraisal that was $100k above the previous one.

Also remember reading an article about how homeownership doesn't benefit Black families as much as it does white ones, so investing in the market and other financial instruments was a smart move cause no one can tell what color you are when you invest in them. Plus their value is set by the market, not by the color of the person owning the stocks.
______________________________________________________________________________

"To Each His Reach"

but.....

Fuck aliens.

  

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legsdiamond
Member since May 05th 2011
67184 posts
Wed Aug-26-20 12:10 PM

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67. "That’s home appraisal is disgusting. "
In response to Reply # 65


          

****************
TBH the fact that you're even a mod here fits squarely within Jag's narrative of OK-sanctioned aggression, bullying, and toxicity. *shrug*

  

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rzaroch36
Member since Jan 26th 2005
2441 posts
Wed Aug-26-20 09:01 PM

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69. "You have $100 disposable income"
In response to Reply # 0
Wed Aug-26-20 09:02 PM by rzaroch36

          

Where do you start with investing?

Edit: $100 monthly

.
*****
http://www.youtube.com/watch?v=t5P6zdlPJ34&feature=related
^^^ever walked the streets of...

  

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Mori
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Wed Aug-26-20 09:28 PM

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70. "Roth IRA and try to max at $6000/year"
In response to Reply # 69


          

Pick any financial institution with low fees or go through your employer.
https://www.schwab.com/ira/roth-ira/what-is-a-roth-ira
https://www.tiaa.org/public/

Start with $100/month. Take $1000 of your tax refund every year and put it in your roth.

Choose 60 Percent equities 20 percent Lifetime 10 Percent Other

Each year, attempt to max out. In 2-5 years, you will have $20k or more working for you.

Rise & Shine
Thrive & Grind
Heart & Mind

  

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rzaroch36
Member since Jan 26th 2005
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Wed Aug-26-20 09:41 PM

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72. "RE: Roth IRA and try to max at $6000/year"
In response to Reply # 70


          

Dope thanks.
I get paid on Friday I’m going to start.

.
*****
http://www.youtube.com/watch?v=t5P6zdlPJ34&feature=related
^^^ever walked the streets of...

  

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kajsidog
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73. "This is awesome."
In response to Reply # 72


  

          

Automate it, don't overthink it or watch too close and you'll be fine. This is money for years from now, cheer for drops because you're getting more for your $100. High-five!

See ya, JAK
http://www.staugustinepics.com/

Winner of OKP Second Photo Kontest
Pic #6 http://www.tha-renaissance.com/effstop/kontest2

  

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mista k5
Member since Feb 01st 2006
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Thu Aug-27-20 09:40 AM

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82. "wheres the last 10?"
In response to Reply # 70


  

          

>Choose 60 Percent equities 20 percent Lifetime 10 Percent
>Other
>

  

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Case_One
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Wed Aug-26-20 10:39 PM

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75. "If you want to manage the $100 disposable income yourself"
In response to Reply # 69


  

          

Two great ways to invest in stocks and purchase fractional shares of stocks like Apple, Tesla, Netflix, Google, Amazon, etc. you can use Robinhood or M1 Finance. I like both. M1 also has premade pies with stocks in them, so you can invest in multiple companies at once.

You can use Robinhood
Robinhood is very efficient at getting your cash into the market. All customers have instant access to deposits and immediate access to funds after closing positions, and your buying power is increased as soon as you initiate a deposit into your account.
https://robinhood.com/us/en/
Get a Free Stock just for opening account at $0 cost to you via: https://join.robinhood.com/jeromec182

or

You can use M1 Finance
M1 Finance offers a unique combination of automated investing with a high level of customization, allowing clients to create a portfolio tailored to their exact specifications. You can create portfolios containing low-cost ETFs or use individual stocks – or both.
See How it works: https://www.m1finance.com/how-it-works/invest/
https://www.m1finance.com/
Get Free $10 just for opening account at $0 cost to you via: https://m1.finance/qYNTiinhlfkG




.
.

“It was the evidence from science and history that prompted me to abandon my atheism and become a Christian.” — Lee Strobel, The Case for Christ

The Case for Christ Lecture: https://youtu.be/67uj2qvQi_k

Good News: https://www.goodnewsnetwork

  

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Mori
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Thu Aug-27-20 07:23 AM

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78. "Roth there are tax benefits/ With Stocks Tax penalties"
In response to Reply # 75
Thu Aug-27-20 07:27 AM by Mori

          

With a Roth IRA you make money Tax free because you are putting your money in after taxes. You won't get taxed again unless you take it out before retirement age. You can also pull your money, (not the gains from investments), out for a house, college or life event.

With cashapp/robinhood and any other stocks, there are capital gains tax.

That means the moment you sell your stock, the government wants their piece. Also liquidating stocks is a bad move. Usually, you just want that stock investment to sit for as long as possible. https://www.nerdwallet.com/article/taxes/capital-gains-tax-rates


I say do both. Investing in a RothIRA is a like jumping into a safety net. Stocks are like jumping into a boat. One is pretty safe and wide. The other is narrow but a faster sail to your destination. Both will save you.

Good luck! Don't listen to the naysayers. I have over $500k in investments and still 20 more years to see it grow. I started when my salary was only $38k.

Rise & Shine
Thrive & Grind
Heart & Mind

  

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Case_One
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85. "You can still set up and trade out of a IRA ACCOUNT "
In response to Reply # 78


  

          

So that helps to, if you want to mange your own money.
.

“It was the evidence from science and history that prompted me to abandon my atheism and become a Christian.” — Lee Strobel, The Case for Christ

The Case for Christ Lecture: https://youtu.be/67uj2qvQi_k

Good News: https://www.goodnewsnetwork

  

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double negative
Member since Dec 14th 2007
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Thu Aug-27-20 06:34 AM

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76. "I DCA'd 10 bucks a week into robin hood, anything is possible. "
In response to Reply # 69


  

          

***********************************************************
https://soundcloud.com/swageyph/yph-die-with-me

  

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sectachrome86
Member since Dec 22nd 2007
2547 posts
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88. "I use Betterment"
In response to Reply # 69


          

There are other similar apps/services as well like Wealthfront. These are called "robo advisors". They are made for people who are either new to investing or people who just want to invest as hands off as possible.

You can set up recurring deposits, and add goals that it will automatically tailor your risk level/asset mix to achieve.

I would recommend looking into it. I started out using it just putting a few hundred bucks in. They also have a high yield savings account that I put most of my emergency cash in because its a lot higher interest than my standard savings account (though the rate used to be a lot higher).

-------------------------------------------------
http://www.soundcloud.com/sectachrome

  

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ThaTruth
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74. "one of the best posts on the board in a while"
In response to Reply # 0


          

  

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Cocobrotha2
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80. "Where are the OkayFinance archives?"
In response to Reply # 0


          

I remember sndesai, I think, had a really great series of posts that explained how the financial system actually works. I wish I could re-read it now after several years of learning more about investing.

The biggest point I took away is that the value of the bond market is many times bigger than the value of the stock market. Many (most?) wealthy people got that way by starting companies and taking them public. Very few people get wealthy just investing their own money. Wealthy people, however, preserve their wealth with bonds.

The stock market is a tool for businesses to raise money to do even more business... that makes the owners of those businesses wealthy as a byproduct. And we can go along for the ride (but usually after most of the action has already happened i.e. post IPO).

With proper perspective on how things are related, you can start to better understand why things are happening in the economy and what might happen next.

To that end, here is really good video about how our economy works

https://youtu.be/PHe0bXAIuk0

and another about how the richest families in the world perceive wealth and invest to preserve it indefinitely.

https://youtu.be/a4_U6bS-cU4

Anyway, I support the general idea of this post but I'd suggest putting the bulk of your money in broad market indices and only "gambling" on individual stocks with a small portion of your money.

It's mostly a rigged game but if you understand the house rules, you'll find your way to spots with better odds for you to win.

<-><-><-><-><-><-><-><-><->
<-><-><-><-><-><-><-><-><->

  

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legsdiamond
Member since May 05th 2011
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81. "I went to a free dinner where a guy was trying to win over retirees"
In response to Reply # 80


          

This was right after the crash in 2008. He kept stressing Mutual bonds as the best investment.

I approached him after the dinner and I could tell he was annoyed because he was looking for old money. He said “ignore everything I just said, invest in the stock market.. you have time to make a bunch of gains before switching to bonds”

I’m staying in the market for a while.

Once I get closer to “retirement” age I will move more money to bonds.



****************
TBH the fact that you're even a mod here fits squarely within Jag's narrative of OK-sanctioned aggression, bullying, and toxicity. *shrug*

  

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Cocobrotha2
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84. "My younger brother has a healthy portion of savings in bonds"
In response to Reply # 81


          

He's a doctor so he's making great money and he could probably just save his way to a nice early retirement if he doesn't blow it all on cars.

Anyway, we compared notes earlier in the summer and his retirement portfolio was actually UP, while mine was down like 5% bc I was 100% in stocks and the market hadn't fully recovered yet.

Turns out that interest rates had fallen significantly with the pandemic, making the value of my bro's bond portfolio increase.

If you look on a broader timescale, interest rates have been falling since the 80's... so that's been juicing the returns on bonds for a long time now... to the point that they're allegedly on par with average stock market returns (I need to do more study on this claim).

Traditionally, the stock market should be giving you higher returns since it's also riskier, but the financial markets are really weird right now. So I think the advisor was mostly sharing conventional wisdom while also showing his hand that he'd rather handle bigger nest egg.

<-><-><-><-><-><-><-><-><->
<-><-><-><-><-><-><-><-><->

  

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Case_One
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86. "Great exchange and conversation @^^^^ here"
In response to Reply # 84


  

          


.
.

“It was the evidence from science and history that prompted me to abandon my atheism and become a Christian.” — Lee Strobel, The Case for Christ

The Case for Christ Lecture: https://youtu.be/67uj2qvQi_k

Good News: https://www.goodnewsnetwork

  

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Case_One
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89. "Best Long-Term Growth Stocks to Buy for the Next 10 Years"
In response to Reply # 0


  

          

https://www.fool.com/investing/top-stocks-to-buy.aspx

https://investorplace.com/2020/06/10-best-long-term-stocks-buy-bear-market/

https://www.kiplinger.com/investing/stocks/601275/20-best-stocks-to-buy-new-bull-market

https://www.investors.com/research/best-long-term-stocks/

.
.

“It was the evidence from science and history that prompted me to abandon my atheism and become a Christian.” — Lee Strobel, The Case for Christ

The Case for Christ Lecture: https://youtu.be/67uj2qvQi_k

Good News: https://www.goodnewsnetwork

  

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Crash85
Member since May 08th 2007
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90. "Thank you for this post!"
In response to Reply # 89


  

          

>https://www.fool.com/investing/top-stocks-to-buy.aspx
>
>https://investorplace.com/2020/06/10-best-long-term-stocks-buy-bear-market/
>
>https://www.kiplinger.com/investing/stocks/601275/20-best-stocks-to-buy-new-bull-market
>
>https://www.investors.com/research/best-long-term-stocks/
>
>.
>.
>
>“It was the evidence from science and history that prompted
>me to abandon my atheism and become a Christian.” — Lee
>Strobel, The Case for Christ
>
>The Case for Christ Lecture: https://youtu.be/67uj2qvQi_k
>
>Good News: https://www.goodnewsnetwork

_____________________________________________________________
Everyone here hates pop music, but loves Michael Jackson... Okay Player...

  

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Case_One
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91. "I'm glad that I had Some Apple and Tesla stock. THE SPLIT is FIRE!"
In response to Reply # 0


  

          


.
.

“It was the evidence from science and history that prompted me to abandon my atheism and become a Christian.” — Lee Strobel, The Case for Christ

The Case for Christ Lecture: https://youtu.be/67uj2qvQi_k

Good News: https://www.goodnewsnetwork

  

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Crash85
Member since May 08th 2007
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93. "No Tesla, but I do have some Apple stock..."
In response to Reply # 91


  

          

Never owned stock that split. Very excited to see what happens in the future with this now. Also, probably gonna buy more apple stock in a couple weeks. It's now back around the price that I originally bought in at.

_____________________________________________________________
Everyone here hates pop music, but loves Michael Jackson... Okay Player...

  

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mista k5
Member since Feb 01st 2006
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94. "was this announced before?"
In response to Reply # 91


  

          

when i got the notification late friday(or saturday dont remember) i figured it would move a lot on monday. would had been nice to buy more before then lol

  

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Crash85
Member since May 08th 2007
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97. "It was announced a couple weeks ago..."
In response to Reply # 94


  

          

Tesla stock doubled after the announcement... Apple kept going up as well, but not at the same rate

_____________________________________________________________
Everyone here hates pop music, but loves Michael Jackson... Okay Player...

  

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sectachrome86
Member since Dec 22nd 2007
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98. "I bought a couple more APPL shares after the split"
In response to Reply # 91


          

I bought a small amount a few months ago at $255. Its been crazy.

-------------------------------------------------
http://www.soundcloud.com/sectachrome

  

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Case_One
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99. "Sesame here. My LB now has 220 shares of Apple after the split. "
In response to Reply # 98


  

          

My best friend has 227 shares of Tesla. He has a Tesla too, so he’s been all in for a few years.
.
.

“It was the evidence from science and history that prompted me to abandon my atheism and become a Christian.” — Lee Strobel, The Case for Christ

The Case for Christ Lecture: https://youtu.be/67uj2qvQi_k

Good News: https://www.goodnewsnetwork

  

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Case_One
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95. "Get Y'all butts into AAPL today and TSLA if you can. "
In response to Reply # 0


  

          


.
.

“It was the evidence from science and history that prompted me to abandon my atheism and become a Christian.” — Lee Strobel, The Case for Christ

The Case for Christ Lecture: https://youtu.be/67uj2qvQi_k

Good News: https://www.goodnewsnetwork

  

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Mgmt
Member since Feb 17th 2005
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96. "RE: Get Y'all butts into AAPL today and TSLA if you can. "
In response to Reply # 95


  

          

I benefited from the APPL split and bought a bit more today.

>
>.
>.
>
>“It was the evidence from science and history that prompted
>me to abandon my atheism and become a Christian.” — Lee
>Strobel, The Case for Christ
>
>The Case for Christ Lecture: https://youtu.be/67uj2qvQi_k
>
>Good News: https://www.goodnewsnetwork

  

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WarriorPoet415
Member since Sep 30th 2003
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Thu Sep-10-20 11:31 AM

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104. "I grabbed Apple today. May grab some Tesla next payday. "
In response to Reply # 95


  

          

Actually, Apple opened the split at 125 and dipped to as low as 111. If they stay below 120 for the next week, I may grab a few more shares.
______________________________________________________________________________

"To Each His Reach"

but.....

Fuck aliens.

  

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After_Words
Member since Aug 04th 2007
574 posts
Thu Sep-03-20 07:44 PM

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100. "Get in on Tesla now after the drop"
In response to Reply # 0


  

          

Tesla went down to $380 today, after going to all time high just a few days ago. I feel the stock will still rise, especially after September 22 when they announce their new developments with their battery.

Another stock that I have is DraftKings. It’s at $37 right now, but I’m betting that it goes up when football season hits and fans are playing daily fantasy football. I plan on dumping it though before October hits, just because I’m scared of a season cancellation.

Like someone said earlier, this post is dope and I appreciate it! Would post again.

--------------------------------
"I'm sick of following my dreams, man. I'm just going to ask where they're going and hook up with 'em later." -- Mitch Hedberg

  

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legsdiamond
Member since May 05th 2011
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Fri Sep-04-20 09:03 AM

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101. "Draft kings is interesting. "
In response to Reply # 100


          

Not sure about that one but like you said.. dumping it October makes sense.

****************
TBH the fact that you're even a mod here fits squarely within Jag's narrative of OK-sanctioned aggression, bullying, and toxicity. *shrug*

  

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Case_One
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102. "Ford (F) General Motors (GM) and Nikola (NLKA) Get in for the Long"
In response to Reply # 0
Tue Sep-08-20 01:58 PM by Case_One

  

          

I am not a broker or affiliated with giving any professional financial advice. This is just my humble opinion.

General Motors takes equity stake in Nikola, to build Badger truck
https://finance.yahoo.com/video/general-motors-takes-equity-stake-142201059.html

Nikola and GM team up to make this 900-horsepower super electric truck
https://finance.yahoo.com/video/general-motors-takes-equity-stake-142201059.html

Ford's incoming CEO wants the U.S. automaker to run like a Deere
https://finance.yahoo.com/news/fords-incoming-ceo-wants-u-155711156.html

.
.

“It was the evidence from science and history that prompted me to abandon my atheism and become a Christian.” — Lee Strobel, The Case for Christ

The Case for Christ Lecture: https://youtu.be/67uj2qvQi_k

Good News: https://www.goodnewsnetwork

  

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legsdiamond
Member since May 05th 2011
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103. "I jumped on Nikola "
In response to Reply # 102


          

a while back and it’s been frustrating but my bet is eventually they figure out and produce these trucks.

I don’t own much but I’m going to keep feeding it.



****************
TBH the fact that you're even a mod here fits squarely within Jag's narrative of OK-sanctioned aggression, bullying, and toxicity. *shrug*

  

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Case_One
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105. "Today, I jumped out of Nikola after this report. I'll get back in later"
In response to Reply # 103


  

          

UPDATE: Short seller Hindenburg alleges that electric truck maker Nikola is an 'intricate fraud' in new report
Published: Sept. 10, 2020 at 11:09 a.m. ET
By Ciara Linnane


https://www.marketwatch.com/story/short-seller-hindenburg-alleges-that-electric-truck-maker-nikola-is-an-intricate-fraud-in-new-report-2020-09-10?siteid=yhoof2&yptr=yahoo&fbclid=IwAR3ftBjI6Alh4HTO-8jq4z2w1wSWf8ACLJXjXyEcJiLRE8j0V1nmyDM5O28


Short seller Hindenburg Research published a report on electric truck maker Nikola Inc. NKLA, -9.30% on Thursday, accusing it of being an "intricate fraud" built on lies told by its Founder and Executive Chairman Trevor Milton over many years. Nikola shares fell 9% on the news. "We have gathered extensive evidence-including recorded phone calls, text messages, private emails and behind-the-scenes photographs-detailing dozens of false statements by Nikola Founder Trevor Milton," said the report. "We have never seen this level of deception at a public company, especially of this size." Nikola has misled partners by making false claims about the company's technology, including its hydrogen fuel cell batteries, which Hindenburg says never existed. The company is now planning to use General Motors Co. battery technology after signing a deal with GM this week, under which it will issue $2 billion of new shares to GM. "Nikola has been vetted by some of the world's most credible companies and investors," a spokeswoman said in emailed comments. "We are on a path to success and will not waver based on a report filled with misleading information attempting to manipulate our stock."


.
.

“It was the evidence from science and history that prompted me to abandon my atheism and become a Christian.” — Lee Strobel, The Case for Christ

The Case for Christ Lecture: https://youtu.be/67uj2qvQi_k

Good News: https://www.goodnewsnetwork

  

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legsdiamond
Member since May 05th 2011
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106. "Damn.. this is grimy"
In response to Reply # 105


          

I mean.. Facebook, Microsoft, etc.. were also founded on lies and stolen ideas.

Even if all this is true.. GM’s announcement should work out in the end.

****************
TBH the fact that you're even a mod here fits squarely within Jag's narrative of OK-sanctioned aggression, bullying, and toxicity. *shrug*

  

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Case_One
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107. "I hope you took a profit and sold that junk. Get back in later"
In response to Reply # 106


  

          


.
.

“It was the evidence from science and history that prompted me to abandon my atheism and become a Christian.” — Lee Strobel, The Case for Christ

The Case for Christ Lecture: https://youtu.be/67uj2qvQi_k

Good News: https://www.goodnewsnetwork

  

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legsdiamond
Member since May 05th 2011
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109. "Nah.. I’m holding on. "
In response to Reply # 107


          

****************
TBH the fact that you're even a mod here fits squarely within Jag's narrative of OK-sanctioned aggression, bullying, and toxicity. *shrug*

  

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Case_One
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110. "Good Luck. I'll jump back in one I see it trending up"
In response to Reply # 109


  

          


.
.

“It was the evidence from science and history that prompted me to abandon my atheism and become a Christian.” — Lee Strobel, The Case for Christ

The Case for Christ Lecture: https://youtu.be/67uj2qvQi_k

Good News: https://www.goodnewsnetwork

  

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Case_One
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Tue Sep-15-20 10:33 AM

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112. "Bro, are you still long on this stock? What’s your opinion?"
In response to Reply # 109


  

          

https://finance.yahoo.com/news/hindenburg-research-rejects-nikola-motors-explanation-as-tacit-admission-of-securities-fraud-140253710.html





“It was the evidence from science and history that prompted me to abandon my atheism and become a Christian.” — Lee Strobel, The Case for Christ

The Case for Christ Lecture: https://youtu.be/67uj2qvQi_k

Good News: https://www.goodnewsnetwork

  

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legsdiamond
Member since May 05th 2011
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Tue Sep-15-20 11:02 AM

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113. "Yup. I’m holding on. "
In response to Reply # 112
Tue Sep-15-20 11:06 AM by legsdiamond

          

As long as GM is onboard they will be fine in the long run.

Short seller hatin cause they lost money on the GM deal. Stfu.. lol.

****************
TBH the fact that you're even a mod here fits squarely within Jag's narrative of OK-sanctioned aggression, bullying, and toxicity. *shrug*

  

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legsdiamond
Member since May 05th 2011
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116. "So Hindenburg admits they shorted the stock "
In response to Reply # 113


          

and they are pissed GM bought 11% and fucked up their short.

Now I’m not saying Nikola is clean on this but Bill Gates lied to get his first deal, Zuckerberg stole FB and Tesla routinely promised production numbers they know they couldn’t hit.

Just sayin’.. it really looks like Hindenburg is mad they didn’t make money on their play.

****************
TBH the fact that you're even a mod here fits squarely within Jag's narrative of OK-sanctioned aggression, bullying, and toxicity. *shrug*

  

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inpulse
Member since May 23rd 2007
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Sat Sep-12-20 06:38 PM

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108. "The "On Economics" part of the title is making my eye twitch."
In response to Reply # 0


          

Just a nerdy, semantic thing, since this post is actually about the stock market.

  

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Case_One
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111. "Ok. Well, we're here now...lol"
In response to Reply # 108


  

          


.
.

“It was the evidence from science and history that prompted me to abandon my atheism and become a Christian.” — Lee Strobel, The Case for Christ

The Case for Christ Lecture: https://youtu.be/67uj2qvQi_k

Good News: https://www.goodnewsnetwork

  

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inpulse
Member since May 23rd 2007
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Tue Sep-15-20 01:00 PM

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114. "Sure, I get that -"
In response to Reply # 111
Tue Sep-15-20 01:00 PM by inpulse

          

but people have been lead to believe the stock market *is* the economy and that just is not true. It's an important variable, but the focus that has been placed on the stock market has lead to so many problems we are in now, and have had in the past.

Moreover, most economists don't even study the stock market - you can think of this like how criminologists don't actually study serial killers.

edit: I'm obviously late to the party here, but I just wanted to point this out, due to your title.

  

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