Bitcoin: Das müsst ihr über die Kryptowährung wissen ...
Wie funktioniert ein Bitcoin ATM ? - Coingeeks.de
Bitcoin ATM Maschine - BitcoinWiki
Welcome to [/NiobiumBomesp](https://reddit.com/NiobiumBomesp). This subreddit is open to discussion about the Ethereum based cryptocurrency Niobium Coin and Bomesp, a Virtual Business Currencies Exchange.
Selling 10% OTM 6+ months Bitcoin calls against a hedged long position (it can either be a naked call or a vertical credit spread) or Selling a 6+ month ATM strangle while buying some BTC to keep it delta positive. I like 6+ months because you will still collect plenty of decay yield but the huge cushion of the large premiums minimizes the volatility of the trade. Both these trades takes advantage of: The tendency of Bitcoin to spend many months (or even years) doing nothing, unlike stocks witch can keep going up and up forever like Tesla and Amazon. Bitcoin has been between 3-12k for the past 3 years but mostly between 7-10k. This means the calls will likely expire worthless, which means tons of $ from premium. However, unlike a stock, Bitcoin cannot go to zero, so the sold put and the underlying BTC will not incur too much of a loss if BTC was to fall. Bitcoin has a very high IV, so this means rich, overpriced options and tons of decay $, while at the same time, very little directional movement. This is the perfect condition for selling strangles. Selling the strangle means put + call decay. The problem is that trading bitcon options is difficult and cannot be done on platforms such as Robinhood. But if you can get it to work, it is like an ATM.
Trade: Selling 10% OTM 6+ months Bitcoin calls against a hedged long position (it can either be a naked call or a vertical credit spread) or Selling a 6+ month ATM strangle while buying some BTC to keep it delta positive. I like 6+ months because you will still collect plenty of decay yield but the huge cushion of the large premiums minimizes the volatility of the trade. Both these trades takes advantage of: The tendency of Bitcoin to spend many months (or even years) doing nothing, unlike stocks witch can keep going up and up forever like Tesla and Amazon. Bitcoin has been between 3-12k for the past 3 years but mostly between 7-10k. This means the calls will likely expire worthless, which means tons of $ from premium. However, unlike a stock, Bitcoin cannot go to zero, so the sold put and the underlying BTC will not incur too much of a loss if BTC was to fall. The premiums of the strangle is large enough that Bitcoin would have to fall a lot to incur large losses. Bitcoin has a very high IV, so this means rich, overpriced options and tons of decay $, while at the same time, very little directional movement. This is the perfect condition for selling strangles. Selling the strangle means put + call decay as bitcoin bounces forever between 8k-12k . or 10k-12k. When Bitcoin get stuck in a rut, it can be months or even a year before it does anything. The problem is that trading bitcon options is difficult and cannot be done on platforms such as Robinhood. But if you can get it to work, it is like printing money. Deribit and TOS have bitcoin option trading. Another nice thing about bitcoin is you can use a mix of alts to hedge the position. For example, you can short ETH as a hedge for being long BTC
For those who want a more sophisticated strategy than stonks go up there is the long dated calls and short dated puts strategy. Long run stonks goes up Long run fed prints money. But short run fed hits stop button by accident Short run stocks go down Stonks go down fed prints money. Stonks go back up Buy mostly long dated otm calls and some short dated atm puts Stonks go down, sell short dated puts and profit, use cash proceeds as collateral to sell slightly OTM puts and collect premium. wait until stonks go back up and fed says no print more, take your collected premium to buy short dated puts and buy more long dated calls. Repeat for infinite money hack. What am I missing?
Dans une conférence en ligne, le gouverneur de la banque centrale britannique (BoE) Andrew Bailey s’est livré à l’exercice d'un discours anti-Bitcoin mais pro-stablecoin
Aujourd'hui le gouverneur de la banque centrale d’Angleterre s’est livré à l’exercice d'un discours anti-Bitcoin mais pro-stablecoin, c'est-à-dire en faveur des monnaies d'états numériques. Evidemment les stablecoins n'amélioreraient pas du tout la situation actuelle en encourageant la disparition du cash en faveur d'une monnaie encore plus facile à contrôler et tracer par des entités constituant un point de défaillance centralisé. Mais surtout cela révèle une faille majeure dans la stratégie de la version de Bitcoin la plus connue à ce jour nommée BTC: il faut arrêter de croire que les gouvernements vont accepter Bitcoin comme monnaie aussi facilement! Cette approche était déjà morte et c'était prévisible depuis le début. Le seul moyen d'assurer l'adoption c'est de construire une utilité massive et non monétaire qui le rend impossible à interdire comme monnaie par la suite. Des sites comme bit.ly/baemail ou bit.ly/twetchapp, dont je parle plus bas et régulièrement sur cette page. COMMENT EN EST-ON ARRIVÉ LÀ ? Bitcoin a été conçu dès le début avec la capacité d'inclure des données (jusqu'à 4 gigas par transaction!) et un langage de programmation propre permettant de coder un nombre infini d'applications. De plus peu de gens savent que le code original de Bitcoin contenait une place de marché et un client de poker, montrant bien l'objectif de l'utiliser comme base pour des applications dans l'économie numérique! Aujourd'hui la version la plus connue, nommée BTC, a abandonné ces objectifs en limitant volontairement la capacité du réseau à 3 transactions par seconde, en retirant la capacité d'inclure des données dans les transactions, et en désactivant le langage de programmation original. Avec des frais de 4€/transaction en moyenne, peu de gens peuvent se permettre de l'utiliser, et BTC est donc devenu facile à stopper par des entités corrompues. Mais alors que faire ? La seule stratégie gagnante est de développer un maximum d'applications utiles pour que les gens et les entreprises utilisent Bitcoin au quotidien pour d'autres utilisations qu'une monnaie. C'est la stratégie poursuivie par la version de Bitcoin nommée BSV, qui a également retiré toutes les limites imposées sur BTC: remise en place des 4 gigas de données par transaction, réactivation du langage de programmation propre, et suppression de toute limite de débit, atteignant déjà les 3500 par secondes avec des frais moyens de 0.0001€ par transaction. Mais ce n'est pas tout ! L'élément le plus important est le développement massif d'un écosystème d'applications innovantes: emails permettant d'envoyer de l'argent comme bit.ly/baemail, réseaux sociaux incensurables et rémunérateurs comme bit.ly/twetchapp, site de vidéos permettant de vendre à la minute regardée comme http://streamanity.com, pour n'en citer que quelques uns. Vous les retrouverez tous sur https://metastore.app/apps?sort=money alors mettez cette page en favoris pour plus tard ! MAIS SURTOUT !... et c'est le plus important: grâce à ces applications les nouveaux utilisateurs peuvent gagner des bitcoins sans jamais avoir à en acheter, et ceux qui en possèdent peuvent les dépenser directement dans l'économie bitcoin sans avoir à les revendre. Un tel écosystème est non seulement vertueux mais en plus impossible à stopper car tout à fait légal, décentralisé et va devenir de plus en plus important dans l'économie des pays. Vous voulez gagnez des bitcoins sans avoir à en acheter ? voici les applications qui vous permettent de le faire: https://metastore.app/earn Vous avez des questions ou remarques ? dites moi tout en commentaire! Et pensez à suivre la page pour être tenu au courant des dernières nouvelles et applications que vous pouvez déjà utiliser pour améliorer votre vie ! article d'origine: https://cryptoactu.com/paroles-de-regulateur-bitcoin-a-la-trappe-stablecoins-a-considere
long time lurker, i'm thinking of writing a book on the bad advice given here on this sub... something like "how to make the least from the rest of your investment returns". all quotes are virtually verbatim. For any new folks, let it serve as a guide that if you see someone saying it, you can rest assured knowing that they shouldn't be giving out advice. "I developed my own trading strategy" "I'm looking for a developer to implement my strategy" "I like X because of the 6% dividend yield" "The price of X has gone down, now is a really good time to buy X as its can't be long before it rallies... or should i buy Y instead" "I sold after the dip and i'm waiting for a good opportunity to buy in" "I'm 70% cash at the moment" "The oil price is low, how can i trade oil... how can i take physical delivery of oil... i read about 'oil cash and carry trade' how do i... yes thanks i read about contango on investopedia, but what is it?" "I'm looking to take advantage of the situation, where can I buy options" aka "where can i trade a derivative i know basically nothing about, in a mathematically zero-sum game market place where i'm totally out-matched... because well, i saw that prices fell, and its not obvious to me that when prices fall, volatility goes up, and as such premiums charged by option writers go up too, but that doesn't matter because i want to lose some money by buying deep OTM lottery tickets" "At SAXO / IG you can trade OTC products, warrants, ETPs, CFD options like i do, but i don't really understand enough to not know why they are not options... (but i'm going to recommend it to you anyway)." "3x leverage means 3x the return... now tell me more about rebalancing tracking error, why should i care... restrike event? i'll forget about that later)" "You can sign up to trade complex products, its easy, you just skim read the professional investor declaration and hit accept... no i've never read a Fund/ETP/ETN prospectus, why?" "I attended/teach/sell an online trading course" "gold is a good hedge, X% of my portfolio is in gold" "I trade about 2-3 per week" "Penny stocks" "AIM stocks" "My bitcoin investment"
Recap of the week for equity markets, bond markets, commodities, and "crisis assets" gold and bitcoin
Equity market returns over the last week broken down by industry and sector
Evidence that companies with the biggest exposure to default risk are getting punished the most by the market
Equity market returns by region
Net debt vs. profitability analysis: Highly profitable companies before the crisis with low debt are doing best
Strategies for "optimists" vs. "pessimists"
Optimist: if you believe the recovery will happen in months rather than years
Bargain Basement: Find large caps with low debt and high profitability before the crisis
Distressed Equity: Treat extreme bargains like OTM options. Nine out of ten might go out of business, but your loss is small. One might make a triple-digit% turnaround and make up for all your small losses and then some.
Pessimist: if you believe the recovery will happen years rather than months
Safety at a Reasonable Price: Large cap companies that will prosper in a slow-growth economy.
Change Agents: You expect fundamental changes in society and the economy, like a shift towards telecommuting being the norm rather than the exception, find companies that will benefit from these shifts.
Stock screens for the first three of the strategies above:
Hi all, New to this sub but excited to allocate a portion of my account towards Bitcoin futures given my current macro perspective on everything that's going on. I would be interested in implementing bull calendar spreads on BTC, or an overall long-term bullish position. I have a couple years of experience trading options, however this is my first time dabbling in futures. I have taken a few college courses regarding the basic of futures contracts, however trading-wise, I still have a few questions: - any recommendation on ideal spread expirations that would differ from options spread expirations? - I will be trading these futures on tastyworks (cannot access outright BTC, just the futures). I would like to purchase a few of the farthest out expiration ATM/ITM futures, and sell shorter term ones to mitigate risk. Planning on entering these shorts at around a 70% PoP. Is selling calls against long term BTC futures a better idea, or just hedging through purchasing OTM puts? Would rather sell due to the volatile nature and solid premiums, but not sure how much better OTM puts would break up the risk. - any other strategy recommendations that I'm missing? I would like long term bullishness in bitcoin, but can't leave too much risk on the table. Thank you!
Negatively Correlated Underlyings (to SPY) Ideal Hedge Types for a Beta and Delta-Neutral Portfolio
Hi all, Running 'The Wheel' strategy for 75% of my trading account and loving it. My risk tolerance is definitely a bit lower than it used to be, so this is a great strategy for collecting that premium on stocks I want to own if I get assigned. Otherwise, I'm trading the last 25% of my account on more speculative credit spreads. I like going long on these (put credits), and I split the buying power evenly 3-ways between underlyings that are correlated to SPY (beta and correlation-wise), uncorrelated, and negatively correlated. The goal is to keep a consistently Beta and Delta-neutral portfolio. I have been attempting to be profitable with the put credit spread on VXX, but with the current strong VIX contango and resulting underperformance of VXX vs VIX on the upside, I've just been losing slowly and steadily with that hedge portion of my credit spread strategy. There are only a few strategies I can trade within the negatively correlated aspect of things, here is what I am debating over: - Options on various bond/gold futures, utilizing a portion of sold premium from other credit spreads to purchase OTM long calls on these. Downside: I have never traded options on futures before, so that is why I would prefer to stray away from selling puts here. I want to get this negatively correlated hedge to provide strong, but not overpowering, downside protection. OTM calls on these underlyings seem like a potential solid hedge. I wouldn't expect to win many of these trades, but when I do, these calls would be a great hedge against the resulting downside my portfolio will experience. - Go back to put credit spreads OR long calls again, but this time on GLD/GDX/TLT. I am more familiar with these underlyings, but still there is something about utilizing put credit spreads as a hedge while the other 2/3 of the non-Wheel part of my account utilizes put credit spreads seems a bit redundant. - Purchase Bitcoin. This is something I have been mulling over, allocation cash towards bitcoin as a store of value preparing for the storms ahead. Not an active strategy per say, other than buying and selling at overbought/oversold points (the Mayer Multiple is a nice indicator for this side of things imo). To conclude, just looking to see how people hedge their portfolio with negatively correlated underlyings. I do really enjoy the OTM long calls on options on gold/bond futures idea, but just wondering if anyone has any experience or tips in this aspect of things. Any other hedging tips for a portfolio like this would be much appreciated! Thank you in advance.
Friday, 1PM: I leave work early. I have to set up for the gun show early because the only time my mechanic has for the alignment rack for the next week and a half is friday afternoon and I am in need of an alignment to keep my Michelin Defender's in a nice predictable wear pattern. My loadout this weekend includes a whole bunch of the usual stuff, Colts, Sigs, HK's, Glock's a few Springfields and four Daniel Defense rifles and an FN SLP Mk 1. I haul over a few used guns that I just took on trade too, a Tavor 556 LH and a Mossberg 500 that I got for $100 off someone wanting to trade it towards a new Glock 23. Four trips with the hand truck gets everything in before the rain starts. I have reserved two tables but I have enough merchandise to cover three. The exhibitor tells me tables went up so two tables cost me $160 for the weekend and I consider it a small expense to view the express train to hell that is the gun culture. 45 minutes flies by as I set up my table just the way I want it and I get to Lenny's to get my alignment done. He's been doing an alignment for me no charge for the past 3 years after I told him NOT to buy an old Browning shotgun he fell in love with on gunbroker. He wanted to use it for upland hunting, sporting clays, skeet and anything moving through the air killing. It was an old gun that had FIXED barrel chokes - Full and Full. I told him RUN LIKE HELL. He said my advice saved him from a $1500 mistake and the least he can do is keep my car on the road no charge. He gets my car set up on his $80,000 hunter alignment rack and finds my toe in is way out of spec. He spends a few minutes banging around with a wrench and everything is all good. As he's doing that, since I know he won't take my money - I walk to the 7-11 across the street and grab him a tall boy of Rolling Rock. His week is so shitty that he shotguns it faster than Brett Kavanaugh circa 1982. Time to head home. I'm halfway there when the phone rings ring ring FC: Go for FC 1: Hey FC, it's Captain Bob. How's it going? FC: Good! I got your stuff fixed and ready to go on my desk. 1: I can be there in 15 minutes! FC: I'll turn around, see you in 15. Captain Bob is a four stripe left seat pilot for Delta on the triple. We love talking airplanes and guns. He's had me tune up an old 220 he wants to use at a class he's taking at FLETC later this year. Like a good pilot, he believes in a comprehensive pre flight inspection. And since his type rating says B777 and not P220, he wanted someone to make sure he's not taking a dud to class. All I did to it was give it a visual, clean and lube and although it probably didn't need it - it had a 20 year old recoil spring so I installed a new one just as a precaution. I get back to my desk and get his gun ready, cleared and slide locked back as he walks in the door. He just got home from running a 777LR to Johannesburg and back and is very pleased to see his old 220 ready to roll. I take my glasses off and point out he's got a little bit of slide peening in a few spots but just keep it lubricated and it's normal wear and tear since he does not shoot it much. He asks me if I have any 300 blackout ammo, I pull a case of 220gr OTM off the shelf. I tell him $450 on the ammo and the pistol inspection and recoil spring is on the house and he's having none of it. Hands me five crisp hundos and tells me to keep it. Just as I'm tucking the cash into my desk drawer, my door opens up and since I'm not wearing my glasses - I see a blurry silhouette of.....is that wonder woman? HUGE TITS on a small frame. I can't tell what's going on. FC: Hi! Lady: Hey FC, it's Lisa. I was just getting my wedding dress altered next door and wanted to say hi! FC: Oh hey! I'm not wearing my glasses so I have no idea what's happening! Lisa: See you tomorrow! FC: I'l be there! So anyways Bob, that was strange. I am normally not used to having my door flung open by halfway attractive women..... Bob: Neither am I! You should see some of the FA's on the J'burg route! We have a laugh. Some more airplane talk about the old 72's and I tell him about the time I greased it in the box on the A320. Turns out he flew A320's as well as boeings and we revel in the differences in both the airplanes. I really like the Airbus design and their workflow even though Boeing guys love to hate it. He's happy with his 220 and we pull chocks. I head home, throw a ribeye on the grill and go to bed early. I've got a busy day in the morning. Saturday morning I wake up at 7AM and look at my to do list. Shit shower and shave. The gun show closes at 5. Lisa's wedding is at 6. The venue is at the lake 39 minutes from the VFW hall. I have a plan. I will leave STRAIGHT to the venue from the gun show and I'll put on dress clothes below the belt. After all, how often do you look at another man's pants? I throw on an HK black NO COMPROMISE Polo shirt untucked with a black alligator belt and Canali navy slacks with my new Allen Edmonds boulevards in black. Socks by Brumell and boxers by Fruit of the Loom. I walk into the VFW hall with a non iron Lauren white spread collar shirt, Ted Baker tie and Canali jacket slung over my shoulder. Nobody notices the pitter patter sound of leather soles on the concrete as the show starts coming to life. It's 8:55. Lets get this show on the road. The loudspeaker crackles and lets everyone in the hall know the doors are about to open up and asks us to check all our guns for ammo and zip ties. I get my table ready and pull out my 4473's on clipboards and check my pens. FFL in frame is standing up on the table, everything is tagged and tied. There will be no discharge of firearms at my table as a result. 9AM: Show opens. It's dead. Deader than dead. Like, life support dead. Typically there is a line from the entryway of the hall and around the building to get into the show every time. This is not the show of years ago. This summer has been atrocious. I talked to the promoter and lots of vendors did not reserve tables for this and the next show. The numbers are way down. Some people start to trickle in but it's not a good sign. 9:30AM: A fellow walks up and asks me if I have a Sig 226 TACOPS with TB in stock. I don't but vendors do. He drove 2 hours to this show to try and find one since his local place did not have it. They're on contract with sig and refuses to order one from distribution to make him happy and Sig has no idea when they're going to make more out of New Hampshire. Well, thanks to Ron Cohen making 26 SKU's for every single pistol - that's what you get. 9:41AM: Fellow wearing an INFOWARS shirt molests way too much merchandise on my table than I'm comfortable with. I shoot a knowing eye roll to Noah over at the next table. He's a 27 year old jewish gold bullion dealer from Long Island that votes libertarian and laughs at all my jokes. He adjusts his RON PAUL FOR PRESIDENT banner hanging off the edge of his table as I wait for Finger McBangerson here to go away so I can wipe down all my stuff. 10:23AM: Guy walks up to me and he says he's looking for a shotgun for competition. I point him towards the SLP at the end of the table. 10:24AM: Older fellow walks up to me and says he's looking for a gun for his wife as he lifts up a Colt Commander. I tell him that will definitely kill his wife. Guy looking at the SLP cracks up laughing. Older guy looks at me mortified. Then he gets the joke. Asks me about suitability of a steel framed colt commander for her. I say probably not a good first choice. Perhaps you should send her to an NRA basic pistol class. 10:39AM: Guy asks me what's the best I'll do on a Glock 17L. I tell him the tag is already priced more than fair. He asks if he can buy it with cash if he can get a discount. I'm like let me see. I ask him if he's got a state CWL. He says yes. I take off $20. He says it's a deal, hands me a stack of money, current CWL and a California drivers license. FC: Do you have residency in this state? 1: No, I'm here visiting for work FC: And you want me to sell you a gun with a California drivers license and no residency? 1: DUDE! KEEP IT DOWN! Do you have any idea what would happen if people found out I didn't live here? FC: YES I DO! They wouldn't be a party to you breaking the law! I hand him all his shit back and tell him to get on the next flight to Fresno. 12:01 PM: Lunchtime. I pick up my sammich from Jersey mikes and nobody fails to interrupt me to throw money at me. This is not a very good sign. 12:16 PM: I am scarfing down the last of my sandwich as Infowars shirt guy comes back around. We chat a bit about 1911's and he eventually tries to convince me that I need to buy the water filter that Alex Jones is selling to keep us from turning homosexual. I tell him now I'm not gay, but look at these shoes. I pull my left hock up and put a nice shiny new Allen Edmonds boulevard on the table. He seems to recoil in horror. As he walks away, I tell him he didn't even notice that I had them straight laced! They're fabulous! Nobody understands my humor. 12:33 PM: The vendor to the left of me is selling clothing offensive to the left. MAGA hats, anti snowflake shirts, ISIS hunting permit graphic tees, etc. I debate calling one of my guys and having "MAKE 45ACP GREAT AGAIN" hats made up. I call up r_shackleford and he thinks this is genius. We trade witty banter back and forth for a few minutes. 12:49 PM: The vendor in front of me is a gigantic pawn shop with 16 tables. There's a woman trying to sell them a rifle, and not succeeding at all. Sam looks over at me and points and says to her "you know, he buys guns too!" FUCK YOU SAM. FUCK YOU LONG. FUCK YOU HARD. The hambeast approaches and thrusts a rifle in my face. "WE BUILT IT CUSTOM" she says. "I NEED MONEY FOR CHEMO" she says. The barrel says 223 Wylde. The lower says Aero Precision. The price tag says $1500 OBO. I tell her she'd be lucky if she got HALF that in this economy. She complains that they really need the money and her two demon spawn that are traveling with her seem to be tired of her getting the same speech from every vendor in the hall. NO YOUR GODDAMN HOMEBUILT 223 WYLDE AR15 IS NOT WORTH $1500 It's not even worth $750 It's worth MAYBE the same price as a new PSA rifle - $350, $450 tops if you threw in the little girl. Editors note (start voice over here): Hi, I'm Matt Damon. Human trafficking is no laughing matter. For just a small donation of $50 or more, you can fight human trafficking. I prefer that you donate to Rapha House International, a charity dedicated to preventing sex trafficking and providing care and treatment to its victims. If you go to the post in the top of guns and donate, you can even stop shitposters like FirearmConcierge from posting stuff like this for the rest of the month if you donate enough money. This sort of support can only be made possible from viewers like you. Please, donate today. Stop the suffering. For the little girls. For reddit. For America. The lady looks at me like a truck stop rapist and inevitably proclaims that SHE KNOWS WHAT SHE'S GOT. Words fail me. I shake my head as she walks away with her demon spawn and I shoot a look back at sam and mouth very carefully YOU FUCKER back at him. Sam cracks up laughing. 1:12PM: I'm asked if that's a Dead Air Sandman on my table. I say yes. Guy asks to look at it and explains to his friend that it's a DAA Sandman and talks about the mounting system. FC: You know your stuff. 1: Yeah I just bought one. FC: I'm the only DAA dealer around here, you don't look familiar. Who'd you get it from? 1: Silencershop. Used the kiosk at a dealer in another city 1.5 hours away FC: Uh, I stock the sandman and would have made you a deal. Why'd you do go through them if you don't mind my asking? 1: Well it was a timesaver. FC: How's that? I mean that place I know is an hour and a half away without traffic, so you made a trip there to do your stuff - then back. That's 3 hours. Then another 3 hours after your stamps clear - so that's 6 hours in a car total. I can call the PD, make an appointment for you to roll your prints and you're done in 15 minutes. Photos at CVS are another 15 minutes. How is 6 hours a timesaver instead of 30 minutes? 1: Well I just knew that if I had to make more than one stop I'd never do it, so it was spend 6 hours in a car and get it done in one shot or spend 15 minutes doing fingerprints or photos and being too lazy to do the other one and never sending in the paperwork. So this was the better choice for me. FC: Uh. Okay? 1: Why don't you have a kiosk? FC: I'm not paying $9000 for something that's going to save you time and cost me money and then have to deal with being tech support and having a device in my place of business that compresses my own margins. We're down to making $50 on a can from making $350. This isn't a position I'm interested in taking. 1: Well, sucks to be you. I'm buying all my cans from silencershop now! FC: Enjoy your 6 hour drive. 1:30 PM: Man walks up with an old stainless combat commander colt. Series 70. No original box and sights. Looks well used. Thinks I’m crazy when I say I won’t give him $1000 on trade. 1:39 PM: Guy comes back. Guy wants me to put a can on his 1917 eddystone that is not threaded. He asks what he can get for $150 1:45 PM: Lady picks up a Trijicon RMR and asks to turn it on. I shove a battery in it and turn it on. 1: This is a laser sight right? FC: This is an RMR from Trijicon and RMR stands for Ruggedized Miniature Reflex sight - it uses a laser of sorts and projects it onto this lens here.... 1: THIS COSTS $500? AND IT DOES NOT EVEN PUT IT ON THE TARGET? FC: Well if you just look through the lens here you can see the red dot projected onto the glass..... 1: I CAN BUY A $30 LASER POINTER AND DUCT TAPE IT TO MY GUN AND I'D BE $470 CHEAPER AND IT WOULD PUT THE LASER ON THE BAD GUY! WHAT IS THIS GARBAGE YOU'RE TRYING TO SELL? She walks away. My mouth is agape. 2:15PM: Old guy walks up and points at a Glock 34 I have on the table. MY FRIEND BOUGHT A GLOCK IN 89 WITH NYPD AND SHOT HIMSELF HOLSTERING IT. I DONT TRUST THE DAMN THINGS and shuffles away without me having time for a rebuttal 2:21PM: Someone walks up asking me if I want to buy a used les Baer Comanche. I tell him I buy when I can make money. I look at it. It’s clean. He wants $1600. Street is about $1600, that's all the money. Street the gun sells for about $1799 NEW, which means I can buy it for less than $1600 new. I tell him this. He looks at me like Elizabeth Warren looks at Brett Kavanaugh and shuffles away. I shake my head as I notice a familiar face walk up. I can't place it. He looks at some guns. 2:25PM: I'm asked if I have a card from the familiar stranger. I reach down into my wallet and fish one out, I hand it to him and he smiles at me. It finally clicks. FC: Dr Livingstone, I presume. Doc: I haven't seen you in years, how have you been? (The doc is FC's old therapist. He can't say hi to me walking around due to HIPAA but if I open a dialogue, it's okay) FC: Eh, same old shit different day. I uh made some mistakes a few weeks ago and I thought of you. Doc: Oh really? How so. FC: Well uh. You remember that day when I told you to go back to the Office of the Bursar at UCLA and ask for a refund on your $125,000 post graduate education because it was nothing but academic detritus? Doc: Well, I hadn't thought about it for a few years but it sounds like something you would say. FC: It was right after you told me that I used 3 different quotes from 3 different academics in a span of less than 5 minutes to answer your question. You said that I intellectualize as a defense because I don't like getting close to people. I said you're full of shit. You asked me do I even know what intellectualize means? I said of course I know what it means, what do you think I'm some kind of idiot? Then you sat there grinning like a Cheshire cat at the thought of making me eat my own words. Doc: Haha. Now, that sounds familiar. I remember that. FC: Well I don't know how many patients are willing to say it but you were right and I was wrong. Doc: I don't get much pleasure in hearing that, but did you learn anything about yourself? FC: It took a few years to realize you may have been right all along but yeah. Doc: Then what does it matter who's right or wrong as long as you learned something? FC: Hmm. That's not bad. How's business? Doc: Full appointment book and not taking new patients. FC: I guess you could say it's........a little crazy? Doc: I missed your humor. Tell me about this Glock 45... I show him a few different guns and crack jokes about disgruntled patients. He says he'll think about arming himself what with crime and mentally unstable people being growth sectors in this post-trump apocalyptic nightmare. I tell him to be fore warned is to be fore armed. He seems reticent, but I can only lead the horse to water. I can't make him drink. 2:51PM: Fellow walks up. 1: I need a colt ladysmith. Do you have one? FC: the colt or the ladysmith? 1: The colt ladysmith FC: is it a colt or a smith? 1: smith FC: which model? 1: the ladysmith! FC: I know but I need to know what model. They put that on a bunch of different guns 1: it’s the one with writing on the side of the gun. It says. LADY SMITH on it. You know the one I realize the strongest case for repealing the second amendment is spending a day talking to people at the gun show. 3PM: Two hours left to go! The end is in sight! I haven't sold a single fucking gun yet! 3:02 PM: Man walks up. Hey do you have the new Sig 925? FC: You mean 365? 1: No the 925 FC: Sig does not make a 925 1: Yes they do, it's the new one. FC: The 365? 1: No! The 925! FC: Can you show me a picture? 1: It's the one on the magazine. FC: Most of sigs guns have magazines. 1: I mean the one in print. It's on the cover. FC: The cover of the periodical you mean? 1: Yeah! You know the new one! FC: Well if it's on the cover, it should be easy to find on google. Can you show me a picture? 1: There's nothing coming up on google for the Sig 925 FC: Maybe perhaps its because it's the sig 365? 1: I'm telling you it's not that. It's the new one they just came out with. It's the 925. FC: Care to make a wager? 1: No. FC: If you bring me a photo I can try to narrow it down. 1: I'll find the magazine at home and bring it in tomorrow. FC: Periodical. 1: Whatever. 3:11: https://www.youtube.com/watch?v=SUFSB2plwzM 3:12: Numismatist neighbor Noah asks me a question Noah: Hey! What's a hi point? FC: A cry for help! (everyone laughs) Noah: No I mean price wise? FC: Like $100, they're garbage guns. Me and Noah start talking. I am moving more and more libertarian every day. He's the treasurer of his local LP chapter in Suffolk county. For a jewish kid from Riverhead, we sure have a lot in common. We get into an animated debate on the virtues of Kelo v New London in that it was a shitty position for the town of New London to take Susette Kelo's house for redevelopment under eminent domain. If they wanted to redevelop it, for the government to use eminent domain is a government run amok. As a libertarian, he hates government overreaching - as someone who also hates that sort of thing, we are in very vocal agreeance. The tshirt vendor is listening to us debate the merits of the case and how the SCOTUS created a TERRIBLE precedent regarding government using the takings clause and when we finish he asks us a question. TShirtGuy: How the fuck do you two know so much about a supreme court case? Noah: Well, when you went to college and you're an economics and pre law major.... FC: Let me make it simple. WE ARE NERDS! Everyone has a laugh. TShirtGuy: Speaking of funny, check this out! He holds up a shirt. It says in big print on the front: the the reason gun shows exist is so women can know what it’s like for when they drag men to the mall I chuckle. 3:13 PM: I get in an argument with the republican candidate for office of something or other on gun laws. He is stupid and he is going to lose. 3:23 PM: A nice lady walks up. She looks familiar. She looks at some guns and feels up a 226 and remarks how well she likes how it handles. FC: You're Bernice, aren't you? Bernice: Why yes I am! You do not look familiar. How do I know you? FC: You're still working at the courthouse right? Bernice: That's right! FC: Judge Snyder, right? Bernice: No! He moved up to the appellate circuit last month it's... FC: Judge Reinhold! That's right, one of his JA's called me to buy a gun last month. I forgot Christine told me, you're right. Bernice: Holy crap, you have an incredible memory. When was the last time you were in front of Judge Snyder? FC: Four years ago. I was the one that filed the motion citing the big lebowski. Bernice: OH MY GOD THAT WAS YOU? I remember that! FC: Yeah and I had to go dumpster diving to get my phone back. Shit, was that really 4 years ago? Fuck. We talk more about guns and stuff. She loves her old West German 226. I tell her that if she really wants to have some fun, she should ask Judge Snyder to tag along on his next range day. About two years ago, the judge called me up asking for some advice. He's Tet offensive era USMC and wanted a new toy to reach out and touch someone and was dead set on getting a new SR25. I talked him out of it because SR25's are stupid expensive. I knew of another dealer that had a T&E 20" SR25 that they were looking to unload cheap and I told him that with the amount of money he'd save going to the T&E gun versus the new one - the delta would more than cover a Nightforce NXS, rings and mounting and that would save him money and be a good performer. I'm friends with his daughter on facebook and they both looked like they had a lot of fun ringing the gong at the gun club. Bernice is impressed. Too bad she's not my type, we'd get along fantastically if I was 15 years older. 4 PM: 60 minutes left to this shit show. 4:04PM: The loudspeaker crackles. ATTENTION ATTENTION: BRETT KAVANAUGH HAS JUST BEEN CONFIRMED TO THE SUPREME COURT. The proletariat rejoices and hooting and hollering typically reserved for the LSU game breaks out in the hall. ALSO WILL THE RED JEEP PARKED IN THE FIRE LANE PLEASE MOVE - YOU ARE BLOCKING THE BBQ GUY FROM LEAVING. RED JEEP. MOVE OR YOU WILL BE TOWED. 4:11 PM: Guy walks up in civvies. 1: I wanna buy this but I’m not a state resident FC: well what’s your deal? Give me some more to work with. 1: I’m from Texas but I’m in the military FC: if you got your orders - PCS to any base in this state says you’re a state resident, but if you don't - I can't help you. I know a lot of guys don't travel around with their orders.... JUST AS I SAY THAT the guy pulls out a wad of hundreds out of his pocket and his PCS paperwork, signed, rubber stamped and billeted. THIS HAS NEVER HAPPENED BEFORE. I give him the clipboard as I look at his paperwork. No blank spaces, approved change of station to Barksdale AFB, address reads base housing, everything is in order for the young airman. HOLY FUCKING SHIT. THIS IS AMAZING. Forms done correct on the first swing. I AM WAITING FOR THE OTHER SHOE TO DROP. I call in the transaction and they tell me that the national system is down. NO IDEA WHEN IT'S GOING TO BE BACK UP. I tell the USAF that the system is down and we can't do anything. He takes my card and hands me money and says just call him when it's ready to be picked up. Huh. Okay, he's cool with that. His girlfriend lives over here so he's back here every weekend. Done! I mark up the paperwork with some notes. 4:23 PM: One guy just walked up and told me that he had no idea HK made rifles. Apparently made a bunch of rifles a few years ago and stamped glocks name on them for Glock. Since Glock can't be found out to be making rifles. This captures the attention of another guy who asks me if my Glocks on the table have fluted firing pins. I tell him they do not make fluted firing pins. That makes no sense. He says yes they do make sense. They're fluted so they shoot underwater. 4:28 PM: Noah's table has someone in front of it debating buying some gold. As they delve into the discussion of gold and FIAT currency, I hear the following. 1: Bitcoin is a webpage. It’s like buying stock. Bitcoin issues shares and it dilutes so the price goes down. Noah: I don't think that's how it works. 1: You’re basically buying a part of a big webpage FC: This is like listening to someone try to explain that pi is exactly 3. Noah: What's wrong with you? FC: I am the Anthony Bourdain of the gun world. I eat, I drink and I yell at idiots. 4:45 PM It's getting close to show close, I need to get ready for the wedding. I grab my Lauren shirt that thankfully is non iron and just dressy enough to work and just casual enough to be worn without a tie if you need to and whip off my HK polo. I put on the shirt and tuck it in as I notice a lovely couple walk up out of the corner of my eye. Its Jim and Jane, Jane is a pharmacist that works at the hospital and Jim is a Gastroenterology resident at the hospital too. They buy lots of guns from me. I finish tucking in my shirt as we talk shop. Jim wants 6 cans, 3 handgun and 3 rifle and wants to know what his options are. I rattle off all the options I would look at and I write some down on a legal pad for Jane to show him on the computer when he gets home. We talk 762 vs 556, 45 vs 9mm and direct thread vs QD for about 10 minutes as I tie off my blue Ted Baker tie into a Pratt knot. The apex of the tie just touches my belt buckle. Length is right on the money, and I didn't even have a mirror. Jane approves of my knot and color selection. Go me. 4:55 PM: Fabulousness achieved, I call back in and find out national system is still down. FUCK. Well this is gonna have to wait till tomorrow. I shove Airman Cecil O'Malley's paperwork under the table and start stowing stuff since the show is about to close. 4:59 PM: Table is covered up and FC is walking out the door as the announcement crackles over the loudspeaker. THE SHOW IS CLOSED. PLEASE LEAVE THROUGH THE FRONT DOOR. 5:01 PM: On the way to the wedding! I stop at Target along the way because I've forgotten to get a card. I find one that says "It was meant to brie" on the front. It has some greeting card herpes, aka glitter on it but I have no time to be picky. As I'm in line to checkout I write something cheeky. "I always said love was cheesy and I camembert it sometimes.....Love, FC" The cashier scans it, I plug my amex into the card reader as I slip in a yard in there and seal up the envelope and slide it into my jacket pocket. The ride to the lake breaks every speed limit in two counties. 5:45PM: I arrive 15 minutes before the ceremony is about to begin and the parking staff puts me in the back lot. I hike over to the open bar and get a fresca. I'm supposed to behave myself, so FC quit drinking and is just chilling with a fresca as he scans the room. I know NOBODY at this wedding except the bride, groom and MAYBE the bride's massage therapist. Nope. I know nobody here. Awwwkward. I behave myself and sip on a fresca as the wedding starts. She gets married. She says yes. He says yes. FC is an ordained minister and can step up and marry someone in case there's an emergency but my services will not be needed at this wedding because things are going smoother than a cold filtered miller genuine draft. It's all good. The DJ announces the new couple and they walk down the aisle together as husband and wife for the first time. The music starts playing. https://www.youtube.com/watch?v=NNEgUPKxk7A ITS HEAVY D AND THE BOYZ! I HAVE ALWAYS WANTED TO GO TO A WEDDING WHERE THEY PLAY THE COUPLE OFF TO HEAVY D! I mention this to the people sitting next to me and they're like it's just like hitch! I'm like what? They go on to explain to me that it's a movie. Starring Will Smith. Huh. Didn't see that one. 5:45 PM: The open bar and the food is coming out. I look around and I definitely do not know ANYBODY HERE. I need to eat and go home. I grab a plate of cocktail shrimp and some lobster sliders and sit down at a picnic table away from the crowd. I don't even notice a busty brunette with cleavage showing also sitting at the table staring at her phone across from me until she says hi. 1: Hi. FC: Hi. (I scarf down a lobster slider. Munch munch) 1: So how do you know the lovely couple? FC: Well she was a friend of a friend and next thing you know I'm showing up to the Christmas party and the wedding. Then Seth is showing up and then they're getting married. You? 1: I work with Lisa, I'm a flight attendant. But I've been out of work for a few months. We had this thing at work. It's called a fume event. I happens when well uh how do I say? FC: Contaminated bleed air via the pneumatic air conditioning kit - or PACK - gets into the cabin, causing all sorts of respiratory irritation and all sorts of other things for the crew. You're on the 320, right? 1: The airbus? Yeah. Me and Lise are also on the.... FC: 321 and the 319. Yeah, I'm familiar with the technology. 1: You're a pilot. FC: Not exactly. I just know airplanes really well. 1: So you're an aerospace engineer. FC: I wouldn't go that far. Hahaha. That's stretching it. A lot. 1: Let me get this right. You're friends with Lisa and Seth, you know airplanes, you're the only one at this wedding actually wearing a suit...... FC: To be fair, it's Louisiana in October. We're lucky most of the folks here aren't wearing Mossy Oak and Realtree. 1: Hahahahahhah! You must live in Baton Rouge! FC: I do. 1: Me too! What part of the city? I live in (names neighborhood) FC: I'm over in (neighborhood next to her) 1: OH MY GOD! That's 10 minutes from my house! So anyways, you're smart, you're funny, where have you been all my life? I'm Ally. FC: I'm Will. 1: You wanna get dinner together? I literally do not know anyone else here and I was thinking about leaving before I met you. FC: Uh sure. Lemme just top this fresca off. 1: I'll join you. 6:15 We're told by the bartenders to grab a ceremonial wedding tervis tumbler with a patch commemorating the happy couple's nuptials hermetically sealed inside. They didn't want a bunch of red solo cups going to the dumpster so they decided to ball out. I walk up to the table where there's literally 200 tumblers in varying colors to choose from and I grab a random one as Ally grabs one too. We head to the bar, she fills her with vodka and sprite. I top off with ginger ale because I'm staying sober and I have to drive 45 minutes back to casa de FC in BTR. She asks me how I know so much about airplanes, I tell her it's been a lifelong obsession and I've done some ground school on the 320 and the 737 and I much prefer the 320. I ask her what's tough about her job and she tells me that most people don't know they only get paid when the doors close. I say yeah, block time is a real bitch sometimes. She looks at me like I'm crazy. I'm like what? She's like HOW DO YOU KNOW ABOUT BLOCK TIME? I told you, I know airplanes. We chat some more as the crowd gets drunker and drunker and more ridiculous on the dance floor. Someone requested Strokin' by Clarence Carter and the DJ ACTUALLY PLAYED IT. Goddamnit Lisa! HAVE YOU EVER HEARD OF A DO NOT PLAY LIST? Wow. 7:10 PM We find some seats for dinner as the buffet opens up, I pile a bunch of chicken marsala and beef wellington on my plate and we head back to the table. She's only a few years older than me and cannot believe that I am single. She asks if I've tried tinder. I tell her the tinder story about me being stuffed into the back of a police car and it is met with raucous laughter. 1: So, do you dance? FC: I do a lot of things, but I don't dance. Baton Rouge is the city that rhythm forgot. 1: I don't really dance either. As a matter of fact, I'm perfectly content to people watch all night with you here by my side. Her hand ran down to touch mine. It had a ring on it. FC: What does your husband think about that? Next thing I know, Lisa and Seth have dropped by the table to say hello. They're taking pictures with everyone and we can't continue the conversation we were just having. Lisa dives in to hug Ally, Seth gives me a handshake, sips my drink and asks why there isn't any bourbon in that tumbler. FC: Gotta behave myself. Long drive back home. Ally: OH MY GOD LISA! Will is FANTASTIC! Where have you been keeping him? He's funny, he's amazing and he looks hot in a suit! If I wasn't married, he'd be the perfect guy! (We're cut off by Lisa, she looks at me sternly.) Lisa: WHAT THE FUCK IS WRONG WITH YOU? FC: What? Lisa: Yesterday! When I was getting my wedding dress fitted! You called me a half attractive woman..... FC: It's not a normal occurrence! Most of the women who open my door are total heifers! For real! Take the compliment! Lisa cracks up, and Seth who has had a few drinks laughs so hard that he damn near falls over. You can hear the cackle of his laugh carry across the lake. The best man props him back up and they all have a laugh. The wedding planner slides in and tells the bride that her cake has been outside of refrigeration for an hour and 15 minutes now and is structurally deficient. They need to cut it now before it collapses in upon itself like a black hole. Lisa grabs Ally, Seth grabs me and the rest of the table follows. We're now part of the wedding cake cutting crew. 7:15 PM: The entourage all takes their Instagram positions as Lisa cuts into her structurally deficient cake and Seth resists the urge to do anything cheeky and fun with frosting. It's cute, everyone toasts the newlyweds. 7:20 PM: I pull Lisa aside privately and I ask her - what the fuck is Ally's deal? "If I wasn't married he'd be the perfect guy?" WHO THE FUCK SAYS THAT? A married woman? At a wedding? To a guy she JUST MET? Lisa: Look, I have no idea how her marriage is going or what her deal is. But just because there's a goalie doesn't mean you can't score. FC: WHAT THE FUCK IS THAT SUPPOSED TO MEAN? Lisa: It means that maybe, if she's throwing herself at you......you should catch her. I gotta go throw the bouquet. Brb. FC: ..... 7:25 Lisa goes to throw her bouquet and Ally has found me and is back at my side. 1: Where were we? I was just saying to Lisa that I was wondering where a guy like you has been all my life? You are awesome. FC: I am awesome, and you are married. 1: Yeah, I know. Come on, I really want you......I mean I really want you......to go photobooth with me. Come on, it'll be fun. She grabs my arm and drags me to the photobooth and she puts ridiculous hats and stuff on me. I'm like no, I've been looking ridiculous enough from birth. i'm good. She literally begs me with puppy dog eyes and does that thing where she shows cleavage. FC: Isn't this like against one of the ten commandments? Thou shalt not......photobooth with another man's wife? 1: Hmm. Yeah, I guess. You're really sweet though. If I was single, I'd be all over you right now. FC: Who says that? Really? 1: So, answer me this. You're not an engineer. You're not a pilot. What do you do? FC: Gun dealer. 1: So if I had something like an AR15 that needed some work, you'd be the guy to call? FC: Maybe, depending on what you needed - there's a lot of things where I'll just tell you flat out what you're trying to do is uneconomical and a bad idea. 1: Well, I'd really like it if you could check out some of my equipment sometime. FC, internal monologue: WHAT THE FUCK IS GOING ON HERE FC, external monologue: Bring it by the gun show this weekend and I'll see what I can do. I crack an uneasy smile as she gets up to go use the bathroom. I decide it's time to get the fuck out of here. 8:11 Making my escape plan proves to be a little tougher than I expected. The parking at the venue at the lake is dark and unlit and I have to navigate my way back to my car in the dark using the light from my phone. I reach into my jacket and I realize that their card is still inside. Fuck. I gotta go back. I turn around and head back to the gift table and I use some ninja recon skills I picked up in catholic school to make sure Ally is nowhere nearby. The coast is clear. I walk up to the little birdcage they have for cards, drop mine in confidently and get ready to turn on my heel and leave. I start making my way back to the parking lot when Seth is just walking out of the bathroom next to the gift table. 1: Hey man, you heading home? FC: I am now, forgot to drop off your card. 1: Ally thought you left without saying goodbye to her, so she asked me for your number. I gave it to her. FC: Oh dear lord. 1: What? FC: Did you hear that woman? "If I was single, you'd be the perfect guy!" Those words are not in a vocabulary of any married woman I know. 1: Dude, you just gotta chill out and go with the flow man. It's not your marriage. If she wants a piece of you, cut her off a slice. FC: Are you serious? 1: When I met Lisa, she was still married to Freddie. Look at us now, 7 years later and we're happy. You want to be happy, don't you? FC: Yeah but.... 1: No but's! Go storm the castle! I gotta go, but I'll catch you at the afterparty tomorrow night! You going? FC: Yeah at your house right? 1: Yeah, what time the gun show wrap up? FC: 4, so I'll be out by 5. 1: I got steaks going on the grill at 3, I'll get save a nice one for you. You still a medium rare guy? FC: You know it! 1: I think Ally is gonna be there too, you two should get to know each other a little better. FC: That's what I'm afraid of! Seth goes back to his wedding, I hop in the car and drive home. It's almost 10PM as I approach the Jersey mikes by my house. I stop in to grab a sandwich for Sunday. Just as I walk up I hear one of the sandiwch makers swear she's going to slit the throat of the next person who orders a sandwich. Eep. I tell her I need a giant 9. She starts making me one. I ask her if she's trying to get out of here right at 10? She says yeah, she's trying to catch the end of the Yankees/Red Sox game. I tell her my old man was from Brighton and my mom was from Elmhurst, so there's no love lost there. We have a laugh. She caught the Yankees pummeling the A's in the wild card on Wednesday. I whip out my phone and check the score for her. Yankees are up 6-2. I tell her she should be able to catch the end of it at home or whatever sports bar she's going to. She tells me she's going to the outback steakhouse the next block over to watch it and they better have the game on when she rolls up in 15. I tell her I'll do her one better. I dated the bartender there (once, she friendzoned me) and I'll message her on facebook to have it on for you. It is at this moment, I am asked for the second time that evening - from a strange woman I've just met - where have I been all her life? I head home, throw my sandwich in the fridge and head to bed wondering WHAT THE FUCK IS GOING ON HERE? Did FC like get game all of a sudden? Donald Trump is President. The Eagles won the super bowl. You can't make this shit up. I got one more day at the gun show too. Postscript: As I write this, it's Columbus day and the Indians, the Redskins and Braves all got their asses handed to them. We truly live in interesting times.
WSB101 - THE BOOK OF YOLO: BEGINNERS GUIDE TO TRADING LIKE A DEGENERATE AND EVERYTHING WSB
The Book of Yolo: COMPLETE GUIDE TO WSB The goal of this is to actually create something that all of you WSB newbies can read - because we’re all tired of seeing the endless wave of uninformed and unavoidable stupidity from those who have never touched the stock market. CALLING ALL NEWFAGS AND NORMIES. If you can’t read, GFY now. Now that we will be on the popular section of reddit, this has become pertinent. WSB can't avoid newcomers, so we might as well explain how the clock ticks here. This one is for you all. This is to serve as a reference what values we hold, what instruments we use, and as a general place to educated the uneducated. First off, this is the LEAST helpful stock market-based community for newcomers. Sarcastic answers are the only thing of true value here. It isn't a place to learn, but a place to plan out where you will dock your yacht. Newcomers are usually berated upon asking the inevitable stupid questions that they could learn slowly from reading here, or just using a damn search engine. Instead of embarrassing yourself here, you now have the opportunity to read this and get what we’re all rambling about. This will help you understand what to expect if you make the decision to undertake a WSB style trading career, so you can stay here and contribute to the yolo lifestyle or otherwise GFY. I will edit in any suggestions that our frequenting users or mods want to add to this as well. To begin: Here are our topics for WSB101 -Basics (Equities/Stocks) ; -ETF's ; -Options ; -Futures Trading ; -SubCulture ; BASICS/EQUTIES Skip if you understand basic stock stuff Okay, so what is an equity/stock? An equity is essentially what you’d think of as your “vanilla” trading tool. They move up or down depending on market forces, and can range from pennies to thousands of dollars per share. To explain how stocks work, let's define a few terms. Volume: The number of shares of stock traded during a particular time period, normally measured in average daily trading volume. Spread: The difference between the bid and the ask price Bid Price: The current price in which someone wants to buy at Ask Price:The current price in which someone wants to sell at Volatility: The WSB favorite. Volatility is referring to the price movements of a stock as a whole. The higher the volatility, the more the stock is moving up or down. Highly volatile stocks are ones with extreme daily up and down movements and wide intraday trading ranges. Margin: A margin account lets a person borrow money (take out a loan essentially) from a broker to purchase an investment. The difference between the amount of the loan, and the price of the securities, is called the margin. Margin is one of WSB’s popular instruments of wealth and destruction. Dividend: This is a portion of a company’s earnings that is paid to shareholders, or people that own hat company’s stock, on a quarterly or annual basis. Not all companies do this. PPS: Acronym for “Price per Share” Moving Average: A stock’s average price-per-share during a specific period of time. Bullish: Expecting the stock to go up Bearish: Expecting the stock to go down Any raised hands can redirect themselves to here: http://www.investopedia.com/articles/investing/082614/how-stock-market-works.asp?ad=dirN&qo=investopediaSiteSearch&qsrc=0&o=40186 Now that these terms are defined, let's move into the details of why this is even useful. Most people know what a stock is, but how and why stocks move is a different story. The stock market is essentially a big virtualization of supply and demand - meaning that usually high positive volume creates upwards movement in the PPS, where high negative volume does the opposite. This creates a trader’s opportunity; Generally, the most effective time to buy or sell is where the candlesticks (volume data) are thinning out. When you are ready to take an entry point or execute an exit point, waiting till the volatility (candlesticks) thin out is one method to give you best trade possible. WSB FAVORITE EQUITIES: Of many equities, WSB favors the riskier ones - but avoiding penny stocks is a policy. AMD - CEO Lisa Su, Next Gen Processors, chips, graphics. It’s the gamers gambit. Up roughly 1400% as of 2/7/2017 since WSB first mentioned it NVDA - AMD’s sister? Mother? Daddy? Who knows. NVDA has been a sexy semiconductor leader. Is up 400% since gaining traction on WSB. FNMA / pfds - Mnunchin, Trump, Big fat fannies. Get your self deep in the fannie. We all want it. WSB 10 bagger candidate for reforming the housing market. WSB holds a large cumulative position that can be seen below. Also a good read is the beginners guide to FNMA. Any post by u/NOVACPA is very often VERY informative on FMNA/pfds. https://www.reddit.com/wallstreetbets/comments/5oissp/results_wsb_fnmafmcc_holdings https://www.reddit.com/wallstreetbets/comments/5t7gba/beginngers_guide_to_fnma_fmcc_read_this_before/ ARRY - A biotech champion that prevailed after a lot of failures and huge losses in the biotech sector. Dark times for WSB. Up ~300% since getting traction on the subreddit. TWTR - WSB likes to buy put option contracts on her. Exemplary of a social media platform that is unable to monetize itself. TSLA - Maybe not unanimously a favorite, but loved for it’s sexy volatility, Elon Musk, and ridiculously expensive options. GILD - A Shkreli pump and dump? The greatest large cap pharma recovery of all time? Who knows. Martin took the time to make a post on this reddit and it is up $5 dollars since. ETF'S Welcome to the world of investing made easy. Exchange traded funds (etfs) are devices that can be traded like stocks, but often track the value of many companies by investing in their listed assets accordingly. Specifically, An ETF, or exchange traded fund, is a marketable security that tracks an index, a commodity, bonds, or a basket of assets like an index fund. Unlike mutual funds, an ETF trades like a common stock on a stock exchange. ETFs experience price changes throughout the day as they are bought and sold. ETFs typically have higher daily liquidity and lower fees than mutual fund shares, making them an attractive alternative for individual investors. ETF’s come in beautiful and delicious varieties, often with a BEAR form and a BULL form of each; but the most delicious to WSB are the 3x etf’s. A 3x ETF is one in which the underlying movement of the ETF is leveraged 3:1. Meaning for every movement within the underlying index or stocks, the 3x ETF moves well.... 3x as much.. WSB FAVORITE AND USEFUL ETF’S: JNUG - 3x Gold Miner Bull - A hit or miss, has extreme intraday movements and essentially tracks GDX (gold miner’s index). Jnug will usually move with a pretty strong correlation to gold, which is affected by the mentioning of rate hikes (negatively), movement of the US dollar (inversely), uncertainty (positively), and supply and demand. NUGT - Jnug with a different price tag JDST - The inverse 3x etf of JNUG - or the bear etf. It does almost exactly the opposite movements of JNUG by the tick. Moves for the same reasons, but obviously opposite directions. DUST - Jdst with a different price tag. UGAZ - Natural Gas 3x Bull ETF - essentially tracks the price value of the commodity Natural Gas, but more specifically the S&P GSCI Natural Gas Index ER. The index comprises futures contracts on a single commodity and is calculated according to the methodology of the S&P GSCI Index. Natural gas is most affected by Weather temperature conditions (use your brain), petroleum prices, and broader economic conditions. DGAZ - Inverse of UGAZ UWT - Crude Oil Bull 3x ETF - extreme intraday movements, closely follows the price of oil. More specifically, it tracks futures. UWT seeks to replicate, net of expenses, three times of the S&P GSCI® Crude Oil Index ER. The index tracks a hypothetical position in the nearest-to-expiration NYMEX light sweet crude oil futures contract, which is rolled each month into the futures contract expiring in the next month. The value of the index fluctuates with changes in the price of the relevant NYMEX light sweet crude oil futures contracts. DWT - Inverse of UWT FAS - Financial Bull, specifically FAS seeks daily investment results, before fees and expenses, of 300% of the performance of the Russell 1000 ® Financial Services Index. The fund creates long positions by investing at least 80% of its assets in the securities that comprise the Russell 1000 ® Financial Services Index and/or financial instruments that provide leveraged and unleveraged exposure to the index. Can be used when bullish on US financial services - so banks, lenders, etc. FAZ - Inverse of FAS UPRO - S&P500 Bull 3x ETF, essentially tracks the S&P500 and multiplies it’s returns by 3x. BRZU - Tracks Brazil (in its most basic form). It creates long positions in the MSCI Brazil 25/50 Index. LABU - Tracks the Biotech sector, or specifically 300% of the performance of the S&P Biotechnology Select Industry Index ("index"). It should be noted that LABU has doubled since just before the election of Donald Trump. LABD - Inverse of LABU RUSL - roughly creates 300% of the performance of the MVIS Russia Index. RUSS - Inverse of RUSL SPY - Tracks the S&P500, but is not 3x. OPTIONS: Alright, so half you are going to understand this, and half of you are not. Pull up an options chain now on any stock (penny stocks and specific stocks do not have chains because of their market cap). Options are truly the ultimate way to achieve maximum risk/reward. An option is a contract that gives the buyer the right to buy or sell 100 shares of a stock at a certain price, on a certain date. This concept makes options a commodity themselves. KEY TERMS: A CALL - is the right to buy. Buying calls is taking a bullish position in its most extreme form. A PUT - is the right to sell. The underlying - is the stock that the option is covering i.e. AAPL, GOOG, AMZN Strike Price - the price at which a put or call option can be exercised. ITM, In the money - In the money means that a call option's strike price is below the market price of the underlying asset or that the strike price of a put option is above the market price of the underlying asset. Being in the money does not mean you will profit, it just means the option is worth exercising. OTM, Out of the money - a call option with a strike price that is higher than the market price of the underlying asset, or a put option with a strike price that is lower than the market price of the underlying asset. ATM - At the money - Strike price at the same price as the underlying Expiration - Expiries for options are every friday of every week usually, with exceptions such as every month, or every other day - depending on the underlying. SPY and SPX are great examples of very active option chains with expiries every other day. On the expiry date or any time before (with american options), an option can be, but doesn’t have to be exercised, meaning the holder of the option can use it to buy or sell shares of the underlying stock at the strike price. Most people on WSB do not exercise the contracts, but merely flip them for increases in value as the underlying moves. For example, when AAPL was at 120 before its earnings report, Joe Shmoe Yolo buys 10 FEB 17th CALLS at strike 127 for .60 , each. Now .60 cents is really 60 dollars each, because the contract is multiplied by 100 (the right to 100 shares). In total, Joe Shmoe Yolo spends $600 dollars + commision on this trade. The next day, AAPL leaps to 130 upon great news. These same option contracts are now worth 3.50 each. $350 dollars per contract, times ten contracts is $3500 dollars. Joe Shmoe Yolo just turned $600 into $3500 dollars. MAGIC. Spoiler alert: Joe Shmoe Yolo was me. That same Joe Shmoe later buys FEB 17th XOM calls at 90, hoping for similar results. However, XOM ends up never reaching anywhere close to the strike price, and the options expire worthless. Get it? Now what determines the pricing of options? OPTION PRICING: Below is sourced from investopedia Intrinsic Value: The intrinsic value is the actual value of a company or an asset based on an underlying perception of its true value including all aspects of the business, in terms of both tangible and intangible factors. This value may or may not be the same as the current market value. Additionally, intrinsic value is primarily used in options pricing to indicate the amount an option is in the money. Time Value: Time Value = Option Price - Intrinsic Value. The more time an option has until it expires, the greater the chance it will end up in the money. The time component of an option decays exponentially. The actual derivation of the time value of an option is a fairly complex equation. As a general rule, an option will lose one-third of its value during the first half of its life and two-thirds during the second half of its life. This is an important concept for securities investors because the closer you get to expiration, the more of a move in the underlying security is needed to impact the price of the option. Time value is basically the risk premium that the option seller requires to provide the option buyer the right to buy/sell the stock up to the date the option expires. It is like an insurance premium of the option; the higher the risk, the higher the cost to buy the option. Makes sense, right? Time value is determined by the expiration date. An expiration date in derivatives is the last day that an options contract is valid. When investors buy options, the contracts gives them the right but not the obligation, to buy or sell the assets at a predetermined price, called a strike price, within a given time period, which is on or before the expiration date. If an investor chooses not to exercise that right, the option expires and becomes worthless, and the investor loses the money paid to buy it. Volatility: In an options pricing, you see IV. This stands for implied volatility. The higher that is, the higher the options will be priced Volatility is the extent to which the return of the underlying asset will fluctuate between now and the option's expiration. Volatility, as expressed as a percentage coefficient within option-pricing formulas, arises from daily trading activities. How volatility is measured will affect the value of the coefficient used. Decaying Nature of Options: Decay refers to derivative trading (i.e. options). When you sell or buy a call/put (using those two for simplicity purposes) you don't get an infinite time frame to make your dreams come true. Time is your enemy; the further out the expiration date, the less time decay there is. Time decay really hits the worst the week of expiration. Sound confusing? Say you're buying options of the stock WSB (I hope you're seeing what I did there) - and the option costs $1, the expiration is this Friday. Say today is Monday. You buy a call expecting WSB to take you to the moon and beyond. Each day the stock doesn't move closer to your strike price or remains stagnant/drops, you lose value on your option + the time decay. Meaning if it finishes closer to your strike price, your option could be worthless because of that time decay. Questions? Ask away. A great example of these factors in action is TSLA. TSLA’s options are among the most expensive for companies in its price range, why? An in the money TSLA call expiring this week is worth around $1100 per contract. Insanely expensive. But for a reason. TSLA has extreme intraday movements and calls have an implied volatility of 40.92%. Which is fairly high. In addition to that, it holds high intrinsic value / price per share, and a week of time value. -Futures 101 - The Ultimate YOLO Guide (thanks to u/IncendiaryGames) Okay, a lot of you have been YOLOing on faggot delights on SPY options. How would you like to trade something with the same or more leverage, 1.0 delta, and no time premium costs? Have you considered futures? What are futures? Unlike options, futures is a contract where both the buyer and seller is obligated to perform the transaction by the expiration. Conversely, in options, only the seller is obligated to perform. That means you can lose more than your investment. Originally they were used by farmers to sell future crops early and guarantee some amount of sales. Since then futures have expanded not just to commodities but currency and equity indices like the S&P 500. Why the heck would I want to trade futures? Here are the advantages: Leverage $5k is the margin requirement for most contracts. For example with the E-mini S&P 500 with 5k you're trading $120k worth of stuff. 1 contract = 500 spy shares. Some brokers offer intraday daytrading margin rates too - TD Ameritrade is 25% of the overnight margin rate($1,250.) Some brokers go as low as $500 an /ES future. SPAN Margin If 24x overnight leverage and 240x day trade leverage didn't give you a hard on there is also SPAN margin, which is like portfolio margin on steroids. The beauty of SPAN margin is you don't need a $125k+ account to be eligible. SPAN will greatly reduce your margin requirements if you hold uncorrelated or inversely correlated positions (up to an 80% discount, here is a list of groups that give discounts) and if you hedge with options. Hedge with the right option or asset and now you have up to 500x day trading margin. 23/7 and day trading Ever get in and out of an equity only to have your broker yell at you to stop doing that or deposit $25k? There is no pattern day trading restrictions on futures. Feel free to day trade and blow up your account as often as you want! You can also trade 23 hours a day. Get trading on how the S&P 500 index will react to news from China right away. Taxes No matter how long or how short you hold you always get taxed under the 60/40 rule. 60% of your profit from futures will be taxed as a long term gain and 40% will be taxed as short term gain. No wash sales. Trade your hearts out. Just remember holding past Dec 31st will treat you as if you closed all your positions that day and you'll be taxed on unrealized gains. Long/Short No need to pay interest or borrow shares as being short a future contract is being a writer, just like an options writer. Options Of course there are options. What fun would it be without options? Unlike stock options each contract gives different number of future contracts. Research what you're trading. Ok. I'm convinced. I want to strat trading futures! What are some good strategies? YOLO Strategies Swing trading Trying to guess/predict/ride sudden market momentum. A low volume average day in the S&P 500 (/ES) for one contract can swing +- $500. Get it right and you can see a huge appreciation of value. /ES is usually highly liquid during regular hours with average volume of 1 million trades and usually bid-ask spreads of one tick. One approach is to buy or short in your direction and put in a stop loss to an amount you're comfortable to lose (say $200.) Since it's so liquid you'll likely be filled at or near your stop loss during the day if your trade goes against you. If you can guess the direction 50% of the time and have trades like this: trade 1 - gain $800 trade 2 - lose $200 Then you may profit over the time period. If you have a 50% chance of being wrong and losing $200 or 50% chance of being right and gaining $800 then over time you'll gain more than you lose. Also, since the present value of your futures contract is included in your margin calculation then if it goes strongly in your favor your position can quickly grow to cover its own margin and you can let it ride for a while. You'll want to be sure you enter a combo buy/short order along with a stop loss order simultaneously, like this for Thinkorswim. Futures can move suddenly and a sudden movement can make you lose a ton of money. Exploiting outdated SPAN margin guidelines There are several out of date correlations between popular futures like oil and say things like wheat that SPAN gives you margin credits on. Take whatever position you want in oil (/cl) then take the opposite in something that doesn't move much day to day with less volatility such as /w (wheat)) and your /cl and /w positions will get a 75% credit, giving you 50% more buying power on crude oil. (2 positions * .25 = 0.5). Trade your heart out on the more volatile future then when you're done close your safer future pair. SPAN is constantly changing but such a complex system definitely has its exploits. Automated/algorithmic trading For you programmer geeks out there it's really hard to algorithmic trade on small accounts due to pattern day trading rules and economies of scale with broker fees. Futures is probably the best way to get your feet wet. Join us on /algotrading if you want to explore more! Boring safer strategies I'm including these for completeness but these belong on /investing. Scalping With high frequency trading scalping is less guaranteed. Basically scalping is using tiny momentum as usually there are small micro patterns in futures buying and selling activity where it will rise or fall a couple of ticks. Since the notional value of each tick is $12.5 it's profitable for retail investors and small accounts to act as a market maker after fees at the smallest bid-ask spread possible. Spreads Just like you can trade spreads in options, you can trade calendar spreads in futures. Futures have contracts with different expiration dates and the prices are different for each month of expiration based on the market's expectations. You can go long or short the near month expiration and the opposite for the far month. This will hedge out any sudden market moves as that would likely affect both months. Bull markets in general tend to increase the price of the near month faster than the far month. Basically with a spread trade you're making a long term bet on bull or bear for the underlying future. Pairs trading You can go long in one future say the dow jones (/ym) and short the S&P 500 index and profit off the relative growth. This is a hedged trade as any market ups or downs will likely affect both positions with the same % value. For the past 180 days /ym - /es has been really profitable. Even if you don't do a full perfect pairs trade it is still a great option to reduce the leverage too on whatever index future you're trading so you can stay in longer or overnight. Interest rate and optimal leverage plays Since the $5k investment is equal to $120k of the S&P 500 index currently then you'll likely beat out the market by buying one future contract and putting $115k in safe treasuries or bonds or uncorrelated assets. Some people choose to leverage their stock portfolio and you can get the exact leverage ratio of liquid investments to future ratios. In probability theory the max leverage you can gain is determined by the Kelly Criterion which modeling shows indicates the S&P 500 index to be leveraged to 1.40x. Yes, you could do the same with options but even on SPY deep in the money call leaps are illiquid and have a time premium. Even today they are so deep ITM that the options you would need to use have 0 open interest and a bid-ask spread of $5 per share (so $500 per contract.) You'd need ~5 contracts per 120k so you're already eating $2.5k/$120k - 2% interest rate a year for that leverage. SPX isn't better, it's bid ask is 22 so you'd be eating $2.2k/$120k - 1.83% interest rate. It's doubtful you won't get much past the ask as its only market makers providing liquidity and guess what the market maker will do if you buy/sell the option? They will hedge with the underlying futures until their minimum profit is the risk free interest rate. Hedging Going long and short in various non correlated or negatively correlated assets to seek out a high sharpe ratio and have a higher risk free return that is market neutral. Basic hedge fund stuff. The variety and price efficiency of futures makes things pretty attractive in this area. SUBCULTURE Wallstreetbets is a community that has become infamous for the most wild west, moon or cardboard box trades on the planet earth. WSB is a place where you can take out thousand dollar loans, refinance your homes, cash advance all of your credit cards only to put it all on JNUG, and we will still love you. Your mother won't. Your father will never understand your spectrum of autism, but we will always love you. It is a uniquely beautiful community focused on praising its biggest losers as much as its biggest winners. To begin on the subculture, we should define some key moments in the sub's history. HISTORY: (As made by u/digadiga) + my additions 2012: Jartek [+1] creates /wallstreetbets, and word slowly starts to ooze out. 2013: americanpegasus discovers pennies. AP has seen the light, and is a penny stock evangelist. Jartek & AP have an epic options vs pennies battle - they both lose a couple of hundred bucks, but we are entertained, and WSB is officially born. AP blows up his retirement, swears off pennies and moves onto bitcoins. 2014: fscomeau [+3] discovers options. He repeatedly bets five figures on AAPL calls before earnings. FS claims a supernatural clairvoyance of AAPL. FS then posts about his chest pains and ER visits. He finally suffers an epic loss. Is he dead? Is he alive? Is he is mother? Is he banned? Who cares? 2015: Photos from the 3rd annual meetup are posted. Where a bunch of dudes hang out on the romantic beaches of Guerrero Mexico. In a completely unrelated event, the wsb banner is changed to thousands of ejaculating dicks. Modpocalypse occurs. Hundreds of random users are added as moderators for a few months. None of the new mods can change the CSS. The constant whining about how "wsb isn't what it used to be" continues. Someone attempts to show how selling covered calls is idiot proof, but gets lazy, bets all six figures on Apple, and suffers significant losses. Robinhood gets popular. Should you buy one share of AMZN or one share of GOOGL? Who gives a fuck. 2016: Everyone starts saying "go fuck yourself." Except me. Because I am what I am. And if you don't like it, you can all go fuck yourselves. u/World_Chaos performs one of the more impressive yolo's of the sub, starting with 900 dollars, and turning it into 55k. https://www.reddit.com/wallstreetbets/comments/414blh/yofuckinglo_900_to_55k_in_12_days/?ref=share&ref_source=link 2017: u/fscomeau preforms what he calls "The Final Yolo", a 300k trade against AAPL before earnings (that I, u/thor303456 inversed), supposedly supposed to net fscomeau 2.5 million or so, in which he will finally stop trading. FSC is featured on several market related articles and newspapers, showing up on yahoo, etc. Later we find proof during his livestream of AAPL earnings that he was paper trading. Even later, FSC writes a near 200 page book called "Wolfie Has Fallen" describing how he trolled the entire internet, some following him into that AAPL trade. Martin Shkreli visits the sub and proclaims that GILD pharma is worth over $100 a share and is deeply undervalued. KEY FIGURES: Donald J Trump - He is the Marmalade Manchurian, the Tangerine Tycoon, and our spray tan Stalin. Unbelievable night of election. WSB demographics show a primarily capitalist and right wing (or at least joking to be so) point of view, and thus we are generally pro trump. In actuality though, WSB is focused on pro-market, which Trump happens to be. u/Jartek - Founder of the sub, original yoloer. Believe he has retired from reddit for the most part. Mostly inactive. u/Fscomeau - The Canadian as some call him, and perhaps one of the most profound internet trolls of 2016-2017. A French-Canadian trader who deals with mostly options. The man has been called "The Great Inverse", and for a good reason. Nearly all of the trades or statements he made on WSB were completely wrong or mostly wrong. Truly the strongest technical indicator. Martin Shkreli - An idol to many WSBers, Martin stands as the master of the biotech sector. A very debated character for very stupid reasons. Martin regularly tweets about the stock market, occasionally does a youtube channel, and livestreams fairly regularly. u/theycallme1 - Educated trader, and mod of WSB. Roasts people often and roasts them good. Ask him the questions that aren't stupid. One of the most active mods. u/world_chaos - some fucking college student with some real net worth. Sits on 100k or so (needs verification), and was an inspiring yoloer to all, with his 900 to 55k yolo with options. Lingo, Terminology, and Nomenclature: The Faggots Delights - Truly the most suicidal, yet clearest shot to the moon. This term is usually used to define either weekly, or daily option plays on the SPY/SPX. Some users trade them very profitably, such as u/MRPguy and many in the past. Cuck - Truly the worst thing you could be. A cuck is a man who likes watching his wife/girlfriend fuck other guys. Weak, spineless, and a term often throw around here. The YOLO - You only live once. This is something that is, and should be realized as undeniably true. Why are you sitting on a 5k emergency fund that is making you less interest in a year than what I just made in 10 minutes? Why haven't you used all of the credit on your 5 credit cards or used your testicles as collateral for a loan yet? YOLO or YOLOING is as much a psychological decision to embrace absurdism, and win with everything you have while risking it all. Yolo is what it means to be a WSB trader. Bagholding or a Bagholder - When you're stuck with the most ass trade of your life, because you know it'll go back up. A bagholder is the 59 year old guy at the grocery store who won't quit his Job because he knows he only has to wait another year until he gets a return on his investment (of his life). Anyone holding SUNEQ is the definition of a bagholder. Autists - Something we embrace, something we call each other, something we all are. Autism isn't used in an offensive way as much as it is a generally accepted term that defines us. The best traders have autism because of their distance from emotion. I bet you never made it to this part of the reading because you're such a damn autist. Tendies - Tendies are what you get after you make a small amount of money. "I SOLD AMD TODAY FOR A $13 DOLLAR PROFIT, GOING TO MCD's TO GET MY TENDIES". Tendie money is usually shameful and insignificant, but at least it got you tendies. Chicken tenders at McDonalds are the least expensive for the most cholesterol. I know some of the writing was half ass, full of errors, or otherwise not the best explanation. But I believe this will serve its purpose, and maybe help to promote new ideas from moderately educated traders. WSB has very strong traders, and the most uniquely risky trading styles on the planet. Hopefully this can serve to better the overall community. You guys are all faggots, upvote this so we can get the noobs to stop trying to bite on our cocks. Also I'd really appreciate input on anything to add to this overall. It took my over 3 hours to write up, so I eventually grew tired and probably have missing spots. Enjoy your time here at WSB. EDIT: Added a shit ton of stuff, fixed errors. THANKS FOR ALL OF YOUR INPUT, ACTUALLY MAKING WSB GREAT AGAIN MODS: Can we make this editable by others mods or something? My fingers aren't enough. Seems like this could serve as a good "official" thing. Paging u/theycallme1u/CHAINSAW_VASECTOMY etc
Is there such thing as a business whose intrinsic value rises during a recession? I'm not sure-- hedge funds with large short positions will do well, of course. Then there's Berkshire Hathaway. You can check out Whitney Tilson's valuation of Berkshire, it's really simple, and pretty convincing. Anyway, I think Berkshire is a buy by Tilson's reasoning, but also because it acts as a partial hedge against recession and stock market decline. Look at what Berkshire Hathway did during the great recession. They went on a buying spree, and they infused cash into the businesses that needed it the most-- Clayton homes, for instance, was in trouble, but the cash infusion allowed them to expand their market share, and become even more valuable. Berkshire has this ability, this enormous cash fortress, and stable businesses that generate cash even during recession, primarily railroads and utilities. I think this is a better way to hedge against unforeseen events than the more common methods-- staying market neutral through short positions, buying T-bonds, buying OTM S&P puts, buying gold/bitcoin. The first and second ideas are completely at the mercy of inflation and central banking(hyperinflation is always completely unexpected). Buying OTM puts might be a good strategy, or it might lose money over the long run(I'm not sure), and gold/bitcoin are unproductive assets. Overall, owning some Berkshire, if it's cheap, seems to me, to be a low-risk way to reduce your exposure to macro events.
Your AM Global Stocks Preview and a whole lot more news that you need to read: Global Stocks are mixed this morning as US stocks decline with worries about a potential fallout from criminal charges against Huawei Technologies.
US prosecutors have formally filed criminal charges against Huawei Technologies, raising fears about the potential for a breakdown in talks between US and China trade officials
Bloomberg suggests the rotation into defensive stocks which started in late CY2018 points to a market bottom and an end to the current correction in stocks valuations
S&P 500 stocks buying back their stocks is back in vogue with the S&P 500 buyback index up 16% since the S&P 500 hit its 12-month low on December 24th
Large-cap oil stocks will be under the microscope this earnings season following the margin crush in 4Q from falling oil prices in the quarter with a greater focus on capital allocation and dividends
While Bitcoin is viewed as an uncorrelated asset, historically, it has failed to properly serve as hedge against a falling S&P 500 -- since July 2010, Bitcoin has only recorded positive returns in 3 of the 10 worst months for the S&P 500 (in terms of returns).
The VIX is little changed this morning and is currently at 19.05 after closing at 18.87 yesterday
SPY March 15 & June 21 OTM Puts, USO February 1 OTM Puts and EEM February 15 OTM Calls & Puts are some of the most actively traded options contracts in the US pre-market this morning
US 10-Year Treasury Bonds are higher with yields down -0.73 basis points to 2.7367%
The US Treasury 2s-10s Spread has widened 0.38 basis points to 0.16%
WTI Crude is currently down -2.8% to USD$51.99/bbl with the Brent-WTI spread up USD$3.69 to USD$8.01/bbl
NYMEX gasoline spreads, a measure of Refiner profitability, as dropped to an 8-year low following an unexpected build up in domestic motor fuel inventories
Gold is currently up 0.33% to USD$1307.6/oz
Stocks Trending in the News
Click name for Q-Factor breakdown, latest price details, more financial info and sentiment data.
3M (MMM) reported fourth quarter adjusted EPS of USD$2.31 while consensus was for USD$2.28. 3M fourth quarter revenue came at USD$7.9 billion, missing consensus of USD$7.86 billion. 3M gave guidance for 2019 EPS of USD$10.45-10.90, down from USD$10.60-11.05. 3M is rated “Attractive” in our US Large-Cap Global Top Stock Ideas “Neutral” in our US Industrials Global Top Stock Ideas.
Biogen (BIIB) reported fourth quarter EPS of USD$6.33 while consensus was for USD$6.69. Biogen fourth quarter revenue came at USD$3.53 billion, missing consensus of USD$3.39 billion. Biogen gave guidance for 2019 EPS of USD$28-29. Biogen is rated “Neutral” in our US Large-Cap Global Top Stock Ideas.
Harris Corp. (HRS) reported fourth quarter EPS of USD$1.88 while consensus was for USD$1.90. Harris Corp. fourth quarter revenue came at USD$1.666 billion, in line with consensus of USD$1.64 billion. Harris Corp. is rated “Top Buy” in our US Large-Cap Global Top Stock Ideas and “Neutral” in our US Industrials.
L3 Technologies (LLL) reported fourth quarter EPS of USD$3.10 beating consensus of USD$2.69. L3 Technologies fourth quarter revenue came at USD$2.77 billion, above consensus of USD$2.66 billion. L3 Technologies is rated “Attractive” in our US Large-Cap Global Top Stock Ideas and “Neutral” in our US Industrials.
PulteGroup (PHM) reported fourth quarter EPS of USD$1.11 while consensus was for USD$1.10. PulteGroup fourth quarter revenue came at USD$2.99 billion, missing consensus of USD$2.91 billion. PulteGroup is rated “Attractive” in our US Large-Cap Global Top Stock Ideas and “Top Buy” in our US Consumer Discretionary Global Top Stock Ideas.
Verizon (VZ) reported fourth quarter EPS of USD$1.12 while consensus was for USD$1.08. Verizon fourth quarter revenue came at USD$34.28 billion, missing consensus of USD$34.44 billion. Verizon gave guidance for 2019 EPS of ~USD$4.73. Verizon is rated “Attractive” in our US Large-Cap Global Top Stock Ideas.
Xerox (XRX) reported fourth quarter EPS of USD$1.14 while consensus was for USD$1.04. Xerox fourth quarter revenue came at USD$2.53 billion, matching consensus of USD$2.56 billion. Xerox gave guidance for 2019 EPS of USD$3.70-3.80. Xerox is rated “Neutral” in our US Large-Cap Global Top Stock Ideas and “Attractive” in our US Information Technology.
European stocks are advancing, bouncing back from yesterday’s decline
The UK Parliament is set to vote on the revised BREXIT proposal from UK Prime Minister Theresa May this evening
The Euro Stoxx 600 is currently up +0.61%, the FTSE 100 is higher by +1.3%, the DAX has fallen -0.01%, and the CAC 40 has risen +0.51%
Investor sentiment for European stocks is positive with the advance/decline ratio for the Euro Stoxx 600 currently at 2.8x
Oil & Gas (+0.92%), Telecommunications (+0.27%), and Basic Resources (+0.77%) stocks are the top performers in the Euro Stoxx 600 today
Automobiles & Parts (-0.1%), Food & Beverage (+1.01%), and Utilities (+0.96%) stocks are the worst performers in the Euro Stoxx 600 today
European tech stocks are dropping following news that Taiwan Semiconductor Manufacturing Co (TSEC:2330, ADR: TSMC) suppliers have agreed to price cuts
88 stocks in the Euro Stoxx 600 are at 4-week highs while 21 stocks are at 4-week lows
21 stocks in the Euro Stoxx 600 are overbought while 4 stocks are oversold according to the 16-day RSI Measure
VSTOXX, the European stocks equivalent of the VIX, is little changed this morning and is currently at 15.65 after closing at 16.16 yesterday
EUR€ is currently little changed against the USD$ at 1.1433
GBP£ is currently little changed against the USD$ at 1.3148
CHF is currently little changed against the USD$ at 1.0069
German 10-Year Bunds are higher with yields down -0.1 basis points to 0.204%
UK 10-Year GILTs are lower with yields up 0.7 basis points to 1.272%
Asia stocks finished mixed again, off intraday highs as the formal criminal charges against Huawei Technologies and negative guidance from Caterpillar (CAT) and Nvidia (NVDA) for their Chinese businesses put a crimp into investor enthusiasm
The Nikkei 225 finished up +0.08%, the Hang Seng ended down -0.16%, the Hang Seng China Enterprise declined -0.14%, and the CSI 300 was +0.32%
Since hitting their lows in December, Asian stocks have gained nearly USD$1.6 trillion in value though that rally is looking fragile with increasing worries about slowing economic growth in China
Hong Kong retailers lagged the recent rally in Hong Kong with weak, disappointing tourist spending from mainland China pressuring retailer valuations
Investor sentiment for Japanese stocks finished neutral with the advance/decline ratio for the Nikkei 225 closing at 1.1x
65 stocks in the Nikkei 225 hit 4-week highs while 9 stocks reached 4-week lows
0 stocks in the Nikkei 225 closed overbought while 0 stocks closed oversold according to the 16-day RSI Measure
Investor sentiment for Hong Kong stocks finished positive with the advance/decline ratio for the Hang Seng closing at 1.27x
29 stocks in the Hang Seng hit 4-week highs while 1 stock reached 4-week lows
9 stocks in the Hang Seng closed overbought while 0 stocks closed oversold according to the 16-day RSI Measure
Japan 2-Year Government Bonds are lower with yields up 0.7 basis points to -0.155%
Japan 10-Year Government Bonds are lower with yields up 0.7 basis points to 0.009%
JGBs 2s-10s Spread has little changed 0 basis points to 0.16%
JPY¥ is currently little changed against the USD$ at 109.45
The team is often available on Discord for discussion and assistance. If you have lost your 2FA for the website, please send an email to [email protected] from your registered email address, with proof of identity documentation. There is a file size limit of 1MB, so attach a file under that size. The Crypto20 Fund Links
Information FAQ can be found here. Investment Information Please see a list of Hyperion's investments here. Meridian Fund Series [Minimum investment 100,000 USD] The Meridian Fund Series is composed of three index funds which track the top 10 crypto-currency assets by market capitalization. Each fund option has a variable contingency for cash allocation. Please see the links below for more information:
C10 Hedged C10 is a fund offered by Invictus, composed of the top 10 crypto-currency assets by market capitalization. Through a hedging mechanism, this fund offers greater drawdown protection for investors who may be more risk adverse. The fund is open-ended, and available to purchase through the Invictus Capital portal. Additionally, the use of margin-lending is designed to reduce fees.
FAQ can be found here. Invictus Margin Lending Fund The Invictus Margin Lending Fund offers investors the ability to take advantage of the volatile nature of the cryptocurrency market without risking direct exposure. The fund aims to maximize interest income on USD and USD equivalents with zero anticipated drawdown risk. Returns have a low or negative correlation to the S&P500, VIX, GLD and TNX — making for an excellent portfolio diversification tool. The fund targets compounded interest returns of 10 to 25% p/a net of fees on USD (and USD backed cryptocurrencies such as TUSD). This target should not be used as a prediction of performance. Investors will have access to daily performance reporting via the website and an API.
Emerging Markets Solar Fund The Emerging Markets Solar Fund aims to earn healthy returns whilst contributing to global clean energy production. The Fund provides investors with an opportunity to raise living standards in emerging markets, provide access to modern energy services, reduce global reliance on fossil fuels and offset their carbon emissions. The Emerging Markets Solar (“EMS”) Fund has teamed up with a launch partner, the Sun Exchange, to initiate the Fund. The Sun Exchange is a US-domiciled company operating out of Cape Town, South Africa and is the world’s first global, peer-to-peer, solar-cell micro-leasing online marketplace. They have a strong presence in the African market and have an impressive track record to date. Check out the fund via the Litepaper linked below!
Invictus Gold Plus Fund Gold has been favored and fought over by humans for thousands of years. With scarce supply and unwavering demand, the unmistakable precious metal has remained central to man’s concept of money and the preservation of wealth. Despite gold's initial sell-off in the wake of coronavirus fears, if history is to be a guide then the precious metal is poised for significant growth given the immense increase in money supply by global reserve banks (at this stage $2 trillion in the US alone) in an effort to buoy consumer demand. Invictus Capital presents our latest fund - the Invictus Gold Plus Fund - an open-ended fund that tracks the underlying gold price and earns an additional yield on your investment. The fund’s objective is to outperform gold as a long-term benchmark. The Fund will be held predominantly in gold-backed tokens, namely Tether Gold (XAUT) and PAX Gold (PAXG), with a small portion invested in our Margin Lending Fund (IML) for 24/7 liquidity purposes. The targeted outperformance will be accomplished by taking advantage of arbitrage opportunities and utilizing our proprietary software to margin lend the underlying tokens on platforms such as Bitfinex, expanding on the success and experience gained from operation of our IML fund. For reference, margin lending rates on Tether Gold haved spiked into the double digits in terms of annualized returns (25% APR as of 26/3/2020) due to the recent surge in trading activity.
Invictus Bitcoin Alpha Fund Invictus Capital is proud to present our Bitcoin Alpha Fund (IBA), an open-ended fund that is always long on Bitcoin (BTC), and aims to outperform it by utilizing options and lending strategies to offer both downside protection and yield. The Fund will have long BTC exposure, and it will utilize OTM put options as a protective mechanism which allows BTC downside to be capped at a maximum of 10% of the US dollar value of the Fund per month. Significant Bitcoin gains are made during any period of drawdown exceeding 10%, and IBA has, historically, strongly outperformed its benchmark of BTC. Bitcoin enjoys a first-mover advantage as well as substantial brand recognition, and it remains a popular investment choice for new market entrants. In historical terms Bitcoin has demonstrated low correlation to major asset classes such as equities, bonds and commodities. It can therefore offer superior risk-adjusted returns compared to more traditionally-oriented portfolios. A key aspect of Bitcoin is its scarcity and it can thus translate to a store of value for investors. With a current market capitalization of less than 5% of gold, there is significant room for Bitcoin to capture a larger share of global wealth. Bitcoin's property of scarcity can also serve as a bulwark against the inflationary pressures faced by fiat currencies and other risks associated with the traditional financial system. The IBA Fund offers the benefits of Bitcoin with reduced volatility - a concern which acts as a barrier to entry for many investors. In addition:
No management fee will be charged by the Fund
Portfolio margin agreements allow the fund to engage in lending activities of the USD collateral to generate interest returns as per the Invictus Margin Lending (IML) Fund. These yields will be applied to offset the cost of the purchased put
The Fund will also offset the cost through sale of OTM call options. The premium received from the sale of the call option helps to pay for the put option cost while capping the maximum fund gain to 30% for a given month
Backtested performance of the fund strategy over the past two years shows strong outperformance against the Bitcoin spot price, particularly in market drawdown
Perseus Perseus is a secure, end-to-end ICO raise platform. Perseus was developed by Invictus Capital to assist projects with their raise process in an efficient manner. Though often associated with the Hyperion Fund, any project can apply for this service. Perseus offers front-end, back-end, business, legal, technical, as well as marketing services. Projects can customize according to their requirements. On the front-end, Perseus provides a secure investment portal, including KYC/AML processes. This portal caters to different languages and currencies. Funds are received securely and stored cold, with user-specific information according to their investment history. On the back-end, analytics and reconciliation reports are available. This is in addition to other administrative and wallet tools. Business services can include assistance with exchange listings, advisors, community development, and ICO strategy. Perseus can also assist with roadmap and tokenomic planning. In terms of legal services, this extends to the drafting of agreements (such as SAFTs) and the creation of contractual terms. Technical services encompass the development and auditing of smart contracts, token issuance and security pen-testing. On the marketing side of things, this relates to content creation and dissemination, community management, brand consulting, campaigning, as well as general strategy. Perseus brings value to the blockchain ecosystem, and increases the chances of partner success. Please find FAQ regarding Perseus here.
Bitcoin ATM kiosks are machines which are connected to the Internet, allowing the insertion of cash or a credit card in exchange for Bitcoin. They look like traditional ATMs, but they do not connect to a bank account and instead connect the customer directly to a Bitcoin exchange for a localized and convenient way to purchase Bitcoin in person. Common locations for Bitcoin ATMs are inside of a ... Bitcoin-ATM sind in herkömmlicher Form keine Geldautomaten. Bitcoin-Kioske sind Maschinen, die mit dem Internet verbunden sind und das Einfügen von Bargeld gegen Bitcoins ermöglichen, die als Papierquittung oder durch Überweisung von Geld an einen öffentlichen Schlüssel der Blockchain ausgegeben werden. Sie sehen aus wie herkömmliche Geldautomaten, aber Bitcoin-Kioske stellen keine ... Bitcoin ist Open-Source, das Design ist öffentlich, Bitcoin gehört niemandem und wird von niemandem kontrolliert. Jeder kann mitmachen. Durch viele seiner einzigartigen Eigenschaften eröffnet Bitcoin aufregende Nutzungsmöglichkeiten, die durch keines der bisherigen Zahlungssysteme abgedeckt sind. Schnelle Peer-to-Peer-Transaktionen . Weltweite Zahlungen. Geringe Transaktionsgebühren ... BTC/EUR: Aktueller Bitcoin - Euro Kurs heute mit Chart, historischen Kursen und Nachrichten. Wechselkurs BTC in EUR. Ein Bitcoin ATM bietet die Möglichkeit, Bitcoin und andere Kryptowährungen, zu kaufen oder zu verkaufen. Der Automat kann dementsprechend Bargeld annehmen und auch auszahlen. Die Bedienung ist dank Touchscreen Display sehr einfach. Man wird Schritt für Schritt durch den Kauf/Verkaufsprozess geführt. Der Kunde muss sich nicht, wie sonst üblich, bei einer Exchange Börse anmelden und Geld ...
This video describes bitcoin purchase process on BATMTwo (On BATMOne is the process identical). Read more at: http://www.generalbytes.com Seit dem 10.01.2019 steht in Sulz am Neckar ein „one way“ Bitcoin ATM. Dies haben wir zum Anlass genommen, dass Gerät einmal zu testen. Eine Verifizierung is... Share your videos with friends, family, and the world In diesem Video zeig ich dir, wie einfach es ist deine Bitcoins wieder in € zu tauschen. Bei diesem Bitcoin ATM ist es dir möglich Bitcoins zu KAUFEN und auc... Bitcoin für Anfänger einfach erklärt! [auf Deutsch] Bitcoin-Börse (erhalte 10€ in BTC) https://finanzfluss.de/go/bitcoin-boerse *📱 Sicheres Bitcoin-Wallet...