Investing, Stock Market and Retirement Planning Thread

[Beveridge]

Well of course I want the market to do better, but it will, so in the meantime I will enjoy my interest.

[mac5155]

I know. It is frustrating knowing dang well that those in the know are making so much cash here. I don't feel like doing it but I'd wager a guess that on days where there is an FOMC meeting the SPY charts look identical.

[NTP66]

My credit union is running a CD promo right now where you can select any term length, and the rate is 4.08%. Killer deal for anything under 48 months, IMO. I already opened a 36-month CD at that rate, and will wait until next year to see if some higher specials appear. Andrews FCU has a 7-month CD @ 5% now, too, which I’m thinking about doing.

[mikey]

$HDGE

[NTP66]

Source of the post Andrews FCU has a 7-month CD @ 5% now, too, which I’m thinking about doing.

Andrews has an absurd daily limit for transfers, and charge a fee for incoming wires. So dumb, so I guess I'll just throw this cash into my local CU instead.

Marcus has a $125k daily transfer limit, so I went that route to fund the CD.

[Troy Loney]

https://www.cnbc.com/2022/11/08/ftxs-ft ... value.html

Can anyone explain what's going on here?

[dodint]

"value"

[MrKennethTKangaroo]

https://www.cnbc.com/2022/11/08/ftxs-ft ... value.html

Can anyone explain what's going on here?

So in Tuesday 's paper copy of the wsj there was an article about the ftx guy and the coinbase guy and how they were mad at each other. Mostly because coinbase sold a bunch of ftx's version on a digital currency. But the article didnt hint that ftx was on the verge of insolvency.

Fast forward 30 hours later and now FTX says they need $4 billion in equity? What the fuq? How do u go from sponsoring laker's Arena and getting your stupid logo on umpire uniforms to insolvent in like a day and a half

[Willie Kool]

https://www.cnbc.com/2022/11/08/ftxs-ft ... value.html

Can anyone explain what's going on here?

So in Tuesday 's paper copy of the wsj there was an article about the ftx guy and the coinbase guy and how they were mad at each other. Mostly because coinbase sold a bunch of ftx's version on a digital currency. But the article didnt hint that ftx was on the verge of insolvency.

Fast forward 30 hours later and now FTX says they need $4 billion in equity? What the fuq? How do u go from sponsoring laker's Arena and getting your stupid logo on umpire uniforms to insolvent in like a day and a half

Binance, not Coinbase.

It pretty much started with a CoinDesk report that Alameda Research's (Sam Bankman-Fried (of FTX) trading firm) balance sheet was very heavy in FTT (FTX's token - which they mint for free).

CZ (Changpeng Zhao - Binance CEO) announced that they would be selling all their FTT, as FTX investors started a run on FTX (withdrawing hundreds of millions of dollars worth of crypto).

CZ then signed a non-binding LOI yesterday to buy out FTX pending DD, but withdrew the offer today after finding that SBF, Alameda and FTX were now reportedly being investigated by Justice Dept. amid speculation of misappropriation of funds...

[Shyster]

Fast forward 30 hours later and now FTX says they need $4 billion in equity? What the fuq? How do u go from sponsoring laker's Arena and getting your stupid logo on umpire uniforms to insolvent in like a day and a half

I'm going with the answer, "Because cryptocurrencies are scams that will eventually collapse." Yes, even Dogecoin.

[NTP66]

Fast forward 30 hours later and now FTX says they need $4 billion in equity? What the fuq? How do u go from sponsoring laker's Arena and getting your stupid logo on umpire uniforms to insolvent in like a day and a half

I'm going with the answer, "Because cryptocurrencies are scams that will eventually collapse." Yes, even Dogecoin.

This.

[Troy Loney]

Fast forward 30 hours later and now FTX says they need $4 billion in equity? What the fuq? How do u go from sponsoring laker's Arena and getting your stupid logo on umpire uniforms to insolvent in like a day and a half

I'm going with the answer, "Because cryptocurrencies are scams that will eventually collapse." Yes, even Dogecoin.

Luckily it’s pretty isolated from the normal economy. It’s a bunch of people buying crypto, leveraging it, and investing in more crypto. These people losing all their “investments” doesn’t seem to have any impact on the actual economy

[Troy Loney]

That said, its not like blockchain technology is in its final form or won’t ultimately be a method for facilitating payments on the internet. But the current form is just a pump and dump

[willeyeam]

i'm ready to declare my 401k as officially BACK

[NTP66]

Back from what, though? It's still down from last year.

[willeyeam]

don't be a debbie downer

[NTP66]

lol, it's doing better than the clowns on Twitter said it'd be doing.

[skullman80]

I think when I looked the other day I was still down 16% for the year maybe? Something like that.

[willeyeam]

I'm up 10% from two years ago

[dodint]

Just checked and I'm still down 6.9%.

[NTP66]

Ni.ce

[mac5155]

Yeah good day to check the investments. Thanks Obama

[NTP66]

I honestly don't care that my YTD is getting pounded. In the grand scheme of things, I'm still 2 years ahead of schedule.

[Dickie Dunn]

Really wish TD Ameritrade wasn't taking their sweet ass time with processing my 401k rollover....

[NTP66]

Speaking of crypto...