Investing, Stock Market and Retirement Planning Thread

[Shyster]

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

Maybe slightly. Prices in the luxury-watch market for certain brands (e.g., Rolex, Patek Philippe, Audemars Piguet, Richard Mille) ran up to stupid high levels over the last five years or so. For example, Patek Philippe watches that retail for $30,000 were trading on the secondhand market for over $100,000. Most of those brands are particularly popular with celebrities. When the crypto markets tanked, the prices of those watches also tanked. A lot of people think the crypto bros were taking their "wealth" and buying up the watches they see people like rappers and race-car drivers wearing. Now that crypto prices are way down, they're trying to sell their watches to get cash back.

[NTP66]

@DigitalGypsy66: Marcus bumped to 3%. Starting to worry that the 3-year, 4.08% CD I opened was a bad idea, lol.

[NTP66]

Also, today is a great day to check your retirement accounts. Based on PM stuff I'm seeing, today could be another strong day.

[skullman80]

I went up like 5% on my yearly YTD (still in the negative though) just based on yesterday alone haha.

[Troy Loney]

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

Maybe slightly. Prices in the luxury-watch market for certain brands (e.g., Rolex, Patek Philippe, Audemars Piguet, Richard Mille) ran up to stupid high levels over the last five years or so. For example, Patek Philippe watches that retail for $30,000 were trading on the secondhand market for over $100,000. Most of those brands are particularly popular with celebrities. When the crypto markets tanked, the prices of those watches also tanked. A lot of people think the crypto bros were taking their "wealth" and buying up the watches they see people like rappers and race-car drivers wearing. Now that crypto prices are way down, they're trying to sell their watches to get cash back.

Right, does not have an impact on the broader economy.

[mac5155]

Let's keep it goin. Even if it means everyone in tech loses their jobs!

[NTP66]

"everyone"...

[mac5155]

I'm way over leveraged with QQQM so bring on the layoffs baby! /sarcasm

[Sam's Drunk Dog]

[NTP66]

[Troy Loney]

There’s an even better one with Brady and Giselle pumping crypto for ftx.

I was definitely in the “I don’t understand how this isn’t a massive Ponzi scheme” camp. Still don’t understand what is going on, but there is still plenty of movement on the institutional side to embrace this technology and absorb cryptocurrency into the mainstream financial sector. But, there’s still lots of scammy/fraud markets out there that probably need to be cleansed before this can actually be something that improves digital payments technology

[Troy Loney]

https://www.forbes.com/sites/brandonkoc ... a3ae5111f6

As FTX grew in prominence, few questions were raised about how it grew so big so fast. But Bankman-Fried was doing more than shaping his image with the media. He was joining it. In June, the New York Times reported that he was backing Semafor, a media startup founded by alums from the Times and Bloomberg.

He also opened up his life to the biggest name in financial journalism. Michael Lewis, the author of “The Big Short,” was reportedly following SBF around for his latest book.

Lewis has is probably about as close to batting 1.000 for topics as you can get. I think they are already shopping the film rights to this piece that he hasn't even started writing yet. He was just embedded with the dude right when the thing collapsed lol.

[MrKennethTKangaroo]

This situation kind of reminds me of when Lewis wrote “The New New Thing,” which was about the .com bubble. Somehow he ended up following an amazing d-bag right at the climax of an economic calamity in both situations.

[Beveridge]

Get him to write on Trump next.

[Troy Loney]

Get him to write on Trump next.

He did. The 5th risk explained how the Trump administration's approach to the administrative state was going to prove disastrously should the country face a shock event. Then COVID happened.

[Beveridge]

Get him to do it again because it didn't take him down the first time!

[Shyster]

Who knew that “Sam…where you going bro?” would be prophetic?

[Dickie Dunn]

Cathie Wood’s ARK Invest keeps buying more crypto assets despite FTX bankruptcy

Oh ffs

[NTP66]

That's not at all surprising.

[robbiestoupe]

Yeah, that's all fair enough...hopefully you're heavily in the ARKs, you should be able to retire at the end of the decade...

I have no idea what ARKs are.

In a time when things were more simple...

[NTP66]

Yeah, that's all fair enough...hopefully you're heavily in the ARKs, you should be able to retire at the end of the decade...

I have no idea what ARKs are.

In a time when things were more simple...

We should all burn mikey at the stake.

[Troy Loney]

https://www.cnbc.com/2022/11/15/wholesa ... eases.html

Inflation cooling down, so that's good

[NTP66]

The market is already poised to reverse yesterday's losses in PM.

[mac5155]

https://www.cnbc.com/2022/11/15/wholesa ... eases.html

Inflation cooling down, so that's good

I don't see how inflation can be easing with diesel fuel at $6.29+ a gallon and most all cargo still being moved by truck, but whatever they say. I guess the reality is demand is easing because people are out of money. Which I guess will reduce inflation yeah, but not in a good way.

[mac5155]

It's also nice to see all these companies pouring money into stock share repurchases while they likely will lay off many employees in CY23