New To Investing Thread

[steve dave]

And he wasn’t even in that debt. He just didn’t understand the closing and settlement. It’s like any dipshit 18 yo can own a gun. A lot shouldn’t. Freedom ain’t free as they say.


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[catastrophe]

Yeah I think the bigger issue is that we need to do a much better job of teaching kids basic finance principles and laws, including what it actually means to be in debt or bankrupt.

Although it is also very messed up that RH can basically send the guy a bill for over $100k and give him no realistic way to contact them about it.

[Jobu]

Damn, what a tragedy. 

Sometimes kids don't realize that no matter how bad things look, there are solutions. 

Suicide sucks.

[KITNfury]

Damn, what a tragedy. 

Sometimes kids don't realize that no matter how bad things look, there are solutions. 

Suicide sucks.

Yea, I couldn't see past my own nose at that age. Now that I'm middle aged I can see most mistakes/problems can be overcome.

That's why it's so heartbreaking when a kid commits suicide over being picked on or whatever. If they only knew in a very short time everyone will go out on their own and find their own people and the world opens up a bit. All the BS high school provides simply dissipates. Classic long term solution to a short term problem, it's just hard to see the forest at that age.

[sys]

my god.

https://twitter.com/felixsalmon/status/1359331404211970050

[kim carnes]

Yeah I think the bigger issue is that we need to do a much better job of teaching kids basic finance principles and laws, including what it actually means to be in debt or bankrupt.

Although it is also very messed up that RH can basically send the guy a bill for over $100k and give him no realistic way to contact them about it.

You can tell them whatever you want, they wouldn’t listen.

[catastrophe]

Fantastic pitch for abolishing the K-12 school system.

[slackcat]

Financial education needs to start in grade school.

1. No drunk trading.
2. Sell the dogs
3. No drunk trading

[kim carnes]

They literally do teach it in grade school

[sys]

i don't think our schools should be teaching children to sell their dogs.

[sys]

welp.

https://twitter.com/NoonSixCap/status/1359836398426021889

[slackcat]

They literally do teach it in grade school

Curious, fill me in

[slackcat]

i don't think our schools should be teaching children to sell their dogs.

What if they want to take a long position in cats????

[yoga-like_abana]

anyone messed around with penny stocks?

[sys]

anyone messed around with penny stocks?

yeah.

[chum1]

Cindicator has posted a job listing on LinkedIn hoping to hire one of the Redditors to conjure up some unintuitive data points.

The listing, for a Sentiment Trader, limits its search to applicants who have at least a year’s active membership on WallStreetBets and at least 1,000 of Reddit’s goodwill karma points. Job seekers should understand probabilities, but “higher education in economics or finance” is disqualifying. “In-depth knowledge” of the language of the finance world and its mechanisms is required.

The rest of the listing gets more esoteric, saying prospects should display “unbiased thinking that defies authority,” and they will spend most of their time “on Reddit, Discord chats, and Twitter to feel the pulse of the tens of millions of retail traders.” Additionally, “a refined taste for memes and a sense of humour” is essential.

https://gizmodo.com/wall-street-fund-wants-to-hire-r-wallstreetbets-users-t-1846232018

[yoga-like_abana]

anyone messed around with penny stocks?

yeah.

thoughts? is it somewhat like BTC where you can drive yourself(or at least I did) crazy checking it constantly? And did you use TD ameritrade or what would you recommend?

[sys]

anyone messed around with penny stocks?

yeah.

thoughts? is it somewhat like BTC where you can drive yourself(or at least I did) crazy checking it constantly? And did you use TD ameritrade or what would you recommend?

it's just like any other stock but they cost less per share.  i don't check the ones i own any more often than i do more expensive shares and if they're more volatile on average, i haven't really noticed it.  a few have gone to $0 or nearly so, but that's because they were bad companies that i was stupid to buy shares in, not because of the price per share.

most of the penny stocks i own are in a fidelity account.

[Pete]

Regarding penny stocks and cheap stocks in general, I spent some time messing around with these 20 years ago.  When I was an MBA student at KU, I took a class called "Applied Portfolio Management," which was taught by the guy who owns/runs Jayhawk Capital (who is now a part of owner of the Royals).  The class was real live money that this guy donated and was treated like part of the endowment for the B school.  This guy was (prolly still is) a big value investor, so we'd look for companies with super cheap stocks that had decent book value and earnings enough to cover their debt, etc.  Most of our work was really just re-evaluating stuff that was already in the portfolio tho.  We'd pick up the phone and just call these companies' investor relations departments and chat them up.  "you dudes going to pay down some debt or what?"  It's amazing what they will tell you, and basically anyone could do this.  He'd conduct conference calls with the CFO while we all listened in.  "You guys going to finally start paying dividends?" all kinds of crap. 

Anyway, my advice would be to pick some that look good on paper (book value over market value, earnings to cover obligations, good ratios compared to peers, etc) and call the fuckers and chat them up. Then decide whether to buy them.

[yoga-like_abana]

Regarding penny stocks and cheap stocks in general, I spent some time messing around with these 20 years ago.  When I was an MBA student at KU, I took a class called "Applied Portfolio Management," which was taught by the guy who owns/runs Jayhawk Capital (who is now a part of owner of the Royals).  The class was real live money that this guy donated and was treated like part of the endowment for the B school.  This guy was (prolly still is) a big value investor, so we'd look for companies with super cheap stocks that had decent book value and earnings enough to cover their debt, etc.  Most of our work was really just re-evaluating stuff that was already in the portfolio tho.  We'd pick up the phone and just call these companies' investor relations departments and chat them up.  "you dudes going to pay down some debt or what?"  It's amazing what they will tell you, and basically anyone could do this.  He'd conduct conference calls with the CFO while we all listened in.  "You guys going to finally start paying dividends?" all kinds of crap. 

Anyway, my advice would be to pick some that look good on paper (book value over market value, earnings to cover obligations, good ratios compared to peers, etc) and call the fuckers and chat them up. Then decide whether to buy them.

Took a very similar class with Dr. Higgins at K-State. Was honestly the only interesting and relevant class I feel I ever took.

[puniraptor]

They literally do teach it in grade school

Curious, fill me in

we did the stock market in 6th grade. Middle school for me but grade school for some?

we did a semester long paper trading exercise. i put YOLO ALL IN into venator and made a (paper) killing.

i dont think i learned very much tho except that there is a thing called stocks, you can buy and sell them, and their value changes based on how well the company is doing (lol)

[slackcat]

i dont think i learned very much tho except that there is a thing called stocks, you can buy and sell them, and their value changes based on how well the company is doing

There's the rub, limited exposure to the world of finance/money management.  To lift a sector of society out of a life of poverty I think there should be ongoing education, K-12, from the basics of saving one's spare change to the ins and outs of trading or investing, money management.  In between there can be taught how one can use their wealth to
acquire necessary lifetime assets such as transportation and housing. ie

[michigancat]

i dont think i learned very much tho except that there is a thing called stocks, you can buy and sell them, and their value changes based on how well the company is doing

There's the rub, limited exposure to the world of finance/money management.  To lift a sector of society out of a life of poverty I think there should be ongoing education, K-12, from the basics of saving one's spare change to the ins and outs of trading or investing, money management.  In between there can be taught how one can use their wealth to
acquire necessary lifetime assets such as transportation and housing. ie

Might be easier and cheaper and lead to better results if the state just guaranteed housing, health care, transportation, and food

[kim carnes]

Quit trolling michigancat

[DaBigTrain]