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Post by JustKillingTime on Feb 4, 2021 14:47:50 GMT -5
made a couple gme plays - one in my roth, made future me some cash, another in my brokerage acct. licking my wounds and starting fresh, going to do actual research and not buy into hype and meme stocks. overall, I netted out ahead and didn't lose all that much today, but learned a valuable lesson
I put an order in last night. Should have waited for this correction. Price went up for about an hour after open, now it's fallen about 25% from where it started this morning. Still up a great deal overall. But it's basically a bet that this Alzheimer's drug works as well as (very) preliminary results are suggesting it does. There's also an issue of production capacity, but I feel optimistic that can get worked out. If so, line goes up again, and also good things for humanity, so I'm excited.
I’ve got 13 stocks/ETFs in my gamble account currently. My top 2 currently are Tesla@98 and PLUG@2.35.
GameStop is under $50 now. I think absolute bottom maybe gets to $20 but long term I think getting in under $30-40 is reasonable for those looking to risk it and think Cohen can make something happen.
I put an order in last night. Should have waited for this correction. Price went up for about an hour after open, now it's fallen about 25% from where it started this morning. Still up a great deal overall. But it's basically a bet that this Alzheimer's drug works as well as (very) preliminary results are suggesting it does. There's also an issue of production capacity, but I feel optimistic that can get worked out. If so, line goes up again, and also good things for humanity, so I'm excited.
I saw you post this last night and immediately thought to myself that it only helps when you are told about the rocket BEFORE launch...
I started an account with Fidelity, but I’m solely looking for a savings account that actually makes money over time, so everything is a long term investment. I’m pretty new to investing, but I figure if I put my money in companies I know will be around for a while, I should get a better return than a traditional savings account.
My plan is to put $125 a week into the account and invest in long term plays, although, of course with my first $200 I had to get my feet wet on the excitement of it all so I bought 2 shares of United, 1 stock of AMC (literally only because I had $15 left to invest and AMC was 12 at the time). I also tried starting a Robinhood account before they got shady and so I was stuck waiting for $100 to clear the waiting period, and put the entire $100 into Surgalign Holdings because a friend at work supposedly got a “tip” about it.
Moving forward my plan is to take the $125 a week and put it in companies like Tesla, Apple, and Disney. I also am very attracted to Airline stock because it’s cheap and I figure flying as a way of travel isn’t going away anytime soon and the airlines will surely get a boost over the years as we get through the pandemic. United seems like the safest airline to me. Anybody have any thoughts on that strategy?
I have a 401k through work which I put over 10% in.
I started an account with Fidelity, but I’m solely looking for a savings account that actually makes money over time, so everything is a long term investment. I’m pretty new to investing, but I figure if I put my money in companies I know will be around for a while, I should get a better return than a traditional savings account.
My plan is to put $125 a week into the account and invest in long term plays, although, of course with my first $200 I had to get my feet wet on the excitement of it all so I bought 2 shares of United, 1 stock of AMC (literally only because I had $15 left to invest and AMC was 12 at the time). I also tried starting a Robinhood account before they got shady and so I was stuck waiting for $100 to clear the waiting period, and put the entire $100 into Surgalign Holdings because a friend at work supposedly got a “tip” about it.
Moving forward my plan is to take the $125 a week and put it in companies like Tesla, Apple, and Disney. I also am very attracted to Airline stock because it’s cheap and I figure flying as a way of travel isn’t going away anytime soon and the airlines will surely get a boost over the years as we get through the pandemic. United seems like the safest airline to me. Anybody have any thoughts on that strategy?
I have a 401k through work which I put over 10% in.
Do you know about ETF's like broad based funds that hold lots of individual stocks? Fidelity has FSKAX a total market index fund with one of the cheapest expense ratios. It would hold all the stock you mentioned.
I never liked airlines because they are capital intensive with large employee costs and pension liabilities. They were always going bankrupt even before the pandemic.
I started an account with Fidelity, but I’m solely looking for a savings account that actually makes money over time, so everything is a long term investment. I’m pretty new to investing, but I figure if I put my money in companies I know will be around for a while, I should get a better return than a traditional savings account.
My plan is to put $125 a week into the account and invest in long term plays, although, of course with my first $200 I had to get my feet wet on the excitement of it all so I bought 2 shares of United, 1 stock of AMC (literally only because I had $15 left to invest and AMC was 12 at the time). I also tried starting a Robinhood account before they got shady and so I was stuck waiting for $100 to clear the waiting period, and put the entire $100 into Surgalign Holdings because a friend at work supposedly got a “tip” about it.
Moving forward my plan is to take the $125 a week and put it in companies like Tesla, Apple, and Disney. I also am very attracted to Airline stock because it’s cheap and I figure flying as a way of travel isn’t going away anytime soon and the airlines will surely get a boost over the years as we get through the pandemic. United seems like the safest airline to me. Anybody have any thoughts on that strategy?
I have a 401k through work which I put over 10% in.
Do you know about ETF's like broad based funds that hold lots of individual stocks? Fidelity has FSKAX a total market index fund with one of the cheapest expense ratios. It would hold all the stock you mentioned.
I never liked airlines because they are capital intensive with large employee costs and pension liabilities. They were always going bankrupt even before the pandemic.
I’ve started to look into them, but need to do more research. I am definitely thought about doing something like a mutual fund or an ETF but I’m not even close to understanding the difference at this point.
Do you know about ETF's like broad based funds that hold lots of individual stocks? Fidelity has FSKAX a total market index fund with one of the cheapest expense ratios. It would hold all the stock you mentioned.
I never liked airlines because they are capital intensive with large employee costs and pension liabilities. They were always going bankrupt even before the pandemic.
I’ve started to look into them, but need to do more research. I am definitely thought about doing something like a mutual fund or an ETF but I’m not even close to understanding the difference at this point.
eh, they lines between them have kinda blurred recently. it used to be that mutual funds are actively managed and ETFs are more passive, and the expense ratios reflected that. these days though there are a lot of actively managed ETFs, and honestly I don't know the point of mutual funds anymore.
I would highly suggest looking into getting indexed ETFs instead of individual stocks. It's much easier to get diversification and hedge your risk than buying individual stocks. If you are looking for long term stability and growth, I'd build a portfolio heavy on ETFs and branch out into specific stocks afterwards. Just my opinion, but has worked well for me.
~80% of my retirement accounts is broad based ETFs:
VOO - vanguard S&P500 index fund QQQ - nasdaq etf VTI - vanguard total stock index
these three will get you the big names (apple, microsoft, amazon, berkshire, etc) as well as some other stuff (financials, energy, consumer products,etc). they are just weighted differently within the funds. ETFs can also be geared toward specific sectors, so you can get exposure to something without having to pick a "winner"; like, financials or healthcare or whatever.
i've been going heavy on tech, and recently these are some of my favorites:
the ARK family of fund, managed by Cathie Wood. they're kinda meme-y but i've been making some big returns. they're focused on innovation related stuff. ARKG - genomics ARKK - "disruptive innovation" ARKF - financial technology PRNT - 3D printing; highly focused but huge growth potential ICLN - clean energy fund, international exposure. MSOS - cannabis stuff WCLD - cloud computing TQQQ - 3x leveraged nasdaq
Do you know about ETF's like broad based funds that hold lots of individual stocks? Fidelity has FSKAX a total market index fund with one of the cheapest expense ratios. It would hold all the stock you mentioned.
I never liked airlines because they are capital intensive with large employee costs and pension liabilities. They were always going bankrupt even before the pandemic.
I’ve started to look into them, but need to do more research. I am definitely thought about doing something like a mutual fund or an ETF but I’m not even close to understanding the difference at this point.
to build on snowman's post, the even easier way to invest long term for retirement is Target Retirement funds. i believe at Fidelity they are called Fidelity Freedom Funds. basically pick the fund with the year you are planning on retiring. the funds automatically reallocate over time to less risky investments. so today they may be 90% stocks 10% bonds, but over time it will be less stocks and more bonds or even cash as you approach retirement, so you are less exposed to swings in the stock market the closer you get to retirement. so you avoid situations like you are five years from retirement and suddenly Enron tanks the market and ruins your retirement. it's not a super exciting investment and you won't get rich quick, but over time your nest egg will build and build.
second point is it's smart to use a retirement vehicle like an IRA. you have two types of IRAs to consider: a traditional IRA or a Roth IRA. A traditional IRA gives you a tax deduction now, meaning anything you put into the IRA is treated as a deduction from your taxable income on your current year return, but you pay taxes on distributions upon retirement. A Roth IRA is a post tax contribution, meaning you do not get a deduction on your current year return, but the distributions are tax free so you won't pay any taxes for withdrawals at retirement.
the "catch" with IRAs is (a) you are limited on contributions annually, i believe it is currently $6,000/year per individual, and (b) you can face a penalty for withdrawing funds from the IRA before age 59.5. for traditional IRAs, i believe the penalty is 10% plus you may regular taxes on distributions. for a Roth IRA, you can withdraw PRINCIPAL at any time, making it a nice backup emergency fund, but if you dip into earnings you'll have a 10% penalty.
the above is all off the top of my head so i may be outdated on some of my info.
edit: i personally use a Roth IRA because i just like the idea of being able to pull from my principal without penalty if i really need to.
I appreciate the advice. I am familiar with IRAs and have considered a Roth IRA for the same reasons you mention, but I’m not necessarily looking for this to be a retirement account. Mostly a supplemental account for down the road, but I’d like to be able to dip in all my capital without any kind of penalty if need be, like when my kids go to college.
But I like the idea of decreasing risk as I get older and diversifying with something like an ETF.
Last Edit: Feb 6, 2021 12:26:34 GMT -5 by pmo - Back to Top
The pot stocks are on a nice run since the election. Aphria has 4xed for me since then and my other two are finally out of the red after years being underwater.
The pot stocks are on a nice run since the election. Aphria has 4xed for me since then and my other two are finally out of the red after years being underwater.
They just mooned again today. $SSPK has been a goldmine for me
The pot stocks are on a nice run since the election. Aphria has 4xed for me since then and my other two are finally out of the red after years being underwater.
They just mooned again today. $SSPK has been a goldmine for me
Yep, I’m up 500% on Aphria. My other pot stocks have been in the red, but the recent run has pulled me back to even water in those. Of course I wish I had gobbled up more while they were depressed and drilled my average cost lower. If Aphria jumps a little more, I’ll probably sell a small piece to cover my pot stock costs and let them ride.
We have those fidelity options, and I never bought into the freedom fund idea. While it's sound in principle to lower your risk and preserve capital as you age, it always seemed gimmicky. I said screw that and have gone all in on giant tech the last couple years. I only have a few more working/contributing years, but I'm not super concerned yet. I figure we're due a substantial market correction in the next few years even though the economy has been artificially propped for a long time with historical low interest rates (overnight, short term, consumer, etc.). Cycles are what they are. But there should be some euphoria as we come out of the Covid-19 era, and I figure there should be 2-3 years of strong growth ahead. If Biden can get his 1.9T stimulus and covid relief bill, that's going to act as a steroid. And while I wouldn't take steroids unless a doctor prescribed them for a condition, I'm not looking to miss out.
For instance, Will Danoff and the Fidelity Contrafund just dropped a $0.40 February capital gain on Friday (they'll reduce the value of the fund by that amount and credit you the 40 cents you have x the number of shares and increase your holdings). Usually the February gain is between .02 and .20 cents. This follows a bad ass fucking $1.246 drop in December.
So while some people may disagree with mutual funds, I still see them as a long term play. Certainly people can make way more money in cryptos or high growth individual stocks. I'll play with that stuff, but I'm not betting my retirement on it.
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