Still think TITNC3: Return of the Iceberg was peak

I just got back into Doge so I'm hoping it keeps going up. Seems to be holding steady. Haven't put any sell limits in yet

Yeah, I sold my BBBY at $20...

 

I’m looking into commodities, something I can really sink my teeth into. Maybe lean hog futures.

 

I’m not trying to be a dink when I ask this but what do you mean you’re guessing?!?!?

unpopular and jerk statement: if you don’t know enough to know what kind of account you have, you definitely shouldn’t be playing with GME and you DEFINITELY shouldn’t be asking for advice only from some collective idiots (myself included) on a truck forum.

it’s not complicated to learn this kind of stuff and at least get a basic knowledge. I’m not trying to be on some high horse - I am a certified moron, but most importantly I don’t want to see you get burned in any way.

I have faith in GME and I will buy it after this current chaos. My plan is when it dives back to 20-25 I’ll get on the train. Not it won’t be a short squeeze but I think it’s a good company with a strong future.

AMC....I’m not so sure about. GameStop has a transforming business model and brought in new life. These past 12 months and probably the next 6 - we’ve all got Netflix and Disney and Hulu etc. when the movie theatres open again the big question will be why the heck am I going to pay all this money for expensive snacks. I can sit on my ass at home with a pause button, a clean bathroom, and whisky! I think before the pandemic, movie theaters were a dying industry. Strong still, but not a long term play.

that said - if any movie theatre company can weather the storm and change their business model or come out on top in any way, it’s amc.

my moves: I’m not moving on AMC. I’m moving on GME after it comes back down. IF it comes back down. If it doesn’t then oh well - I’m in on XOM and mostly all in on VTI for my investing. So I don’t try to play god with more than like 500-750 bucks in my investments.

 

im on CORN.

reason being with trade tunnels opening up between two countries, corn prices in the us will go up bigly. I can’t really get into more details due to C of Cs on the site.

but - for the same reason, pork would go up too.

CORN is just an etf that mirrors corn futures. As far as actually trading in commodities I haven’t a clue really. I think TD has that ability even though my account isn’t setup for it.

 

First off, I'm not playing with GME at all. However, I have been using this since March. I'm trying to learn more, but through this whole process it was determined that there's a lot more to it than I've known. That being said, I've done nothing more than occasionally buy and sell a stock on the side. My main money is all managed by someone else. All of this money I'm talking about is purely on the side. I've invested $10. I'm also not really asking for advice as much as trying to learn from people who know more about it than I do. I can ask specific questions here while an article on the internet often talks in terms I don't yet understand or cover what I'm trying to figure out.

 

I get what you're saying and it very could happen. My thoughts however are quite opposite. People that pay $7 for popcorn when they can watch it at home are the same people that pay $30 for a steak when you can grill one yourself. A lot of towns here where I'm from, movie theaters boom because that's the only form of entertainment to really do anything within 90 miles. It's something to do and experience to get out of the house. Gaming department such as GME I see as a bust like the blockbuster model. To me, that's a dying industry ( not gaming at all but their business model). The console are moving to digital and away from disk drives. Sure there is still a need for accessories but the platforms are going digital which also cuts cost of them manufacturing them. I game some and have zero need to go into Gamestop to purchase that disk copy or sell them a used one for $2. Now if they're model changes significantly, maybe it'll boom. To me, GME is a high gamble at the moment. However I'm not a professional by any means and that's just my thoughts on them both.

 

Gamestop is going the way of Blockbuster, Family Video, RadioShack, etc. The stock price is entirely from this short squeeze. Soon enough, everyone will back out. I wouldn't be surprised to see it shorted again.

 

My thoughts as well. Could easily be wrong but that's how I'm playing it too.

 

The goal of most isn't to save gamestop. It's to hold the shares until the shortseller's borrowing contracts are up and they have no chance but to buy them at extravagant prices. If they hold until then, you will see another spike in the price.

 

Some people are going to get roasted if they aren't careful. Dont throw money at it of you can't afford to lose it. It's that much on Red or Black

 

That's the best part. Many people are using their stimulus checks. And even more people are only investing in a few shares. But there are so many people doing this that the amount of shares owned by individuals doesn't really matter. And most the people that have gone Yolo have already pulled out.

 

Right. Like I said, I wouldn't be surprised to see them try and short it again after that.

 

I only have a few shares in GME myself. It's my short term gambling money because that's all it is, not an investment lol.. A quick way to make a quick doll hair if I succeed.

 

Several hedge funds have already gone bankrupt and with the determination of many of those involved, many more will likely follow, but yes in the end this is just a single battle in the ongoing war.

 

It would be nice to think that this would become a good tactic against short sellers. The reality is that there are many that are going to work against it. Legislators are already working on their end. Social media sites will start to block organized efforts. and if all that actually manages to not stop this movement, people falsely claiming their stock is falling because of short sellers just to raise the cost of their stock and cash out will.

 

For sure. It's a never ending cycle and not for the common man. This is a once in probably lifetime blow up imo. A little history and +1 for the good guy column.

Get in why you can and let's go to the moon!

 

Sweet. Thought you were in the GME train.

so. There’s a few different types of accounts. An IRA is an independent retirement account. There are to types. Roth and traditional.

in a Roth, you deposit money you’ve already paid taxes on, and then invest it. The growth is tax free. So in 40 years all those gains are all yours.

traditional is pre tax money. So you pay taxes on the gains, BUT it’s paid as taxable income - so it could be lower than you are paying now.

both have a limit of 6k/ year. A traditional has a required minimum distribution once you reach 70.

how is your money managed? If you don’t mind can you share your age and the management fee? For example are you 30 and the fee is 0.3%?

I just took over from betterment for my investments. I only do VTI but their fee structure was 0.25% which from now until retirement amounts to like 100k so I decided to take that back and just deal with it myself. Their model was worse long term than SP500 and VTI is roughly mirrored if not a smidge better so all my long term stuff is just “buy VTI”. I can’t tell you how much of a weight lifted off my shoulders with spreadsheets and percentages etc trying to make sure it was all good.

simple: have money, buy VTI. Less than the cost of a share? Buy SPLG. Similar and cheaper (just an SP500 ETF with 0.03% Expense ratio).

my long term money doesn’t do options. I don’t buy and sell calls and whatnot. I might do covered calls but I’m still playing with some ideas for that before I commit to anything. But the point is that stuff is steady and I don’t play with it. I have a few hundred on the side I dick around with and a few K is self directed long term stuff (XOM, CSCO, F).

almost all I know is from Reddit or here and then looking them up elsewhere too. Not trying to knock these resources. And definitely not trying to knock you trying to learn - I was just trying to pump the brakes on toying with GME which it sounds like you aren’t. (I am also not, not trying to make it sound like a cool kids club you aren’t allowed in )

Blockbuster didn’t adapt.

GME is bringing in new life to their board who has experience taking a company from nowhere to modern day tech and making them successful (Chewy). So there’s hope there.

I see what you’re saying about AMC but the small areas where these theatres are wont be within the AMC business model and don’t fit well with a corporate agenda. (Corporations constant increasing revenues etc). I could be wrong and I’d love to be.

for my money - I see GME a good buy once they come back down, and less of a long term risk than AMC.

 

No, I wish! But even if I was, it would be a single stock. I've not even begun to play around with call options or anything. Like I said, this is more of a way to learn how the market works and make a little money off of some money that I'm never going to be relying on.

I don't have any sort of Roth or traditional IRA set up right now. Currently I just have what my employer has set up (457 and 403(b)). All of that is handled by my employer but it is through a local company who deals with Schwab. So that all being said, I don't know (without looking it up anyway) what the fee is. I am currently 28. I will add, though, that I do have a mutual fund set up through them as well, but that's obviously not an IRA. Again, without looking it up, I don't know the fee off hand.

 

I understand. If either of us knew we'd both be rich! Thanks for the opposite explanation and outlook to consider.

 

Okay - you aren’t going to get that out of them while still working there. But here’s an idea on what management fees will do long term.


let’s assume you’ve got 25k for 40 years with a measly management fee of 0.5%. Most robo advisors are closer to 0.25% but most non robo advisors are above that closer to 1%. So middle man fee structure.





You’re paying 500k in fees.



now this isn’t to say you’re paying all 500k in fees. Let’s say tomorrow the fees are 40 bucks. That’s relatively cheap - but the opportunity cost of that 40 bucks 40 years from now is also factored into “fees”.

I just use any fund fee calculator it all does the same job.

https://www.nerdwallet.com/blog/investing/mutual-fund-calculator/


So long term look at taking that on yourself. I can share my research once I get online instead of on my phone that just always buying VTI doesn’t put you in the top spot possible but is a very comfortable and very convenient option. There are better, but this is easy and no frills and decent enough returns for me at least that I calculated using VTI returns, my retirement will be fine. Once I had those calculations all my desire to be complicated washed away. Easy. Simple. Done.

my problem is I’m trying to retire at 50. My retirement accounts (Roth and 401k) are set for 60. That bridge 50-60 is where I need to buff up. And the problem is now is the time to do it and just let time be my friend more than anything.