Discussion ***Official*** 2020 Stock Market Thread

[RichieZ]

Thanks for the explanation, makes a lot more sense now. Wow, what a ride.

Well sort of, I am indeed an accredited investor since like 2010/2011 but I was actually an early employee. When I exercised my vested options I became the 17th shareholder. It would not have been possible to invest directly in Airbnb back then, Airbnb has been funded by Sequoia Capital since the seed round back when they did YC. They were so hot they didn't even present at demo day to other VC investors and a bunch of invited accredited investors. I did get invited to demo day the past 2 years but its really hard to get into any of the hot deals.

 

[KB]

I get jealous of all the people making bank, be they lucky or skilled or both, but I do have to remember for all the lucky ones, there are the dumb ones.

He lost $50 million day trading as a college student living in a $39 million flat --- now his mom is suing him

Temur Akhmedov, developed a taste for the stock market. A costly taste.

www.marketwatch.com

I still think this guy takes the cake on the dumbest though

Bloomberg - Are you a robot?

 

[Train]

Glad I finally got into Disney, up 10% today, likely a record close.

I kicked myself for not buying in before Disney+ went live.

Edit: up 15%

 

[Tweak155]

Well sort of, I am indeed an accredited investor since like 2010/2011 but I was actually an early employee. When I exercised my vested options I became the 17th shareholder. It would not have been possible to invest directly in Airbnb back then, Airbnb has been funded by Sequoia Capital since the seed round back when they did YC. They were so hot they didn't even present at demo day to other VC investors and a bunch of invited accredited investors. I did get invited to demo day the past 2 years but its really hard to get into any of the hot deals.

Yeah the overall idea that you got in when it wasn't available was really the detail that made it make sense, so you clearly got it a very long time ago. Thanks for the extra details, though!

 

[FelixDeCat]

CA will be perfectly fine without yet another billionaire helping them fund the welfare of the rest of the country, lol.

Say goodbye to another billionaire...

Larry Ellison Flees liberal Taxifornia.....

https://finance.yahoo.com/news/oracle-larry-ellison-says-moved-205441890.html

Ellison, 76, who has a net worth of about $75 billion, according to data compiled by Bloomberg, owns 98% of Lanai, Hawaii’s sixth largest island that’s mostly made up of Ellison’s luxury hotels and resorts. Ellison is the main employer of Lanai’s 3,000 residents. In addition to his three hotels, he also owns a significant chunk of the housing stock as well as the main grocery store and the monthly newspaper there.

The Oracle chairman joins other tech leaders and ultra-wealthy in leaving California, with some pointing to the state’s high taxes. Tesla Inc. Chief Executive Officer Elon Musk, a friend of Ellison’s, said last week that he had left California for Texas. Splunk Inc. CEO Doug Merritt also reportedly moved to the Austin area. Oracle, the world’s second-largest software maker, had called Silicon Valley home since the company’s 1977 founding.


Will the last person to leave CA please turn the lights out?

 

[FelixDeCat]

I've done well trading Spice lately. I decided to buy back the short calls, sell the stock and associated protective puts. Totally out for now.

Launch is on Friday. It could leap to $40 afterwards near term or fall back into the $20s. There is a lot of new money looking for a payoff, so I figured the easy money has been made short term.

The near term catalyst is the launch and there could be different scenarios ahead....

1) Momentum carries into the $40s and $50s as we enter '21 and WS looks for a new story to focus on.

2) Buy the rumor, sell the news. After the launch, consolidation $20s.

3).......the launch is scrubbed again, the stock craters.....


(If you have held this long, then none of the above probably matters to you anyway. )

So now we know what happens - so far, it looks like a combination of option 2 & 3.

 

[s0me0nesmind1]

Say goodbye to another billionaire...

Larry Ellison Flees liberal Taxifornia.....

https://finance.yahoo.com/news/oracle-larry-ellison-says-moved-205441890.html

Ellison, 76, who has a net worth of about $75 billion, according to data compiled by Bloomberg, owns 98% of Lanai, Hawaii’s sixth largest island that’s mostly made up of Ellison’s luxury hotels and resorts. Ellison is the main employer of Lanai’s 3,000 residents. In addition to his three hotels, he also owns a significant chunk of the housing stock as well as the main grocery store and the monthly newspaper there.

The Oracle chairman joins other tech leaders and ultra-wealthy in leaving California, with some pointing to the state’s high taxes. Tesla Inc. Chief Executive Officer Elon Musk, a friend of Ellison’s, said last week that he had left California for Texas. Splunk Inc. CEO Doug Merritt also reportedly moved to the Austin area. Oracle, the world’s second-largest software maker, had called Silicon Valley home since the company’s 1977 founding.


Will the last person to leave CA please turn the lights out?

No need to worry, hes just another no-name billionaire - plenty more to come around.

It's like overall revenue is something that they are shitting bricks over...

 

[ponyo]

Larry Ellison is 76 years old and worth over $75 billion. He didn't move to Hawaii to escape taxes. Hawaii has 11% max state tax rate. California max tax is 12.3%. The difference is minimal. If Ellison cared about taxes, he would've moved to state with no income tax.

Ellison owns Lanai, Hawaii. He's old. This is him moving to enjoy life rather than for money. It's not like Larry is hurting for money. He made more than $10 billion from his TSLA stock investment.

https://www.cnbc.com/2019/05/23/ora...on-crushed-on-tesla-investment-this-year.html

Oh how his fortune in TSLA changed after this article. CNBC published this article right near the low last summer. If you had bought TSLA stock when this article came out, you would've made 16x your money.

 

[dasherHampton]

He's not moving to Texas but Oracle most certainly is.

 

[ponyo]

Austin, TX, is going to be the next Silicon Valley. My wife and I are going to visit Austin next year to check out the area. If we like it, we might buy a house in Austin. No state income in Texas is huge incentive. But property taxes is pretty high.

 

[dasherHampton]

California is overdoing the "Eat the rich" thing.

I read an article a few months ago that claimed that certain high earners who live there could pay over 60% in federal and state taxes combined.

That's ........ insane.

 

[nisryus]

Austin, TX, is going to be the next Silicon Valley. My wife and I are going to visit Austin next year to check out the area. If we like it, we might buy a house in Austin. No state income in Texas is huge incentive. But property taxes is pretty high.

The housing market has been going crazy around here for the last several years, but this year is the worst.

One of my co-worker is trying to buy a 3k sq ft house around Round Rock for months. (RR is next to Austin). Each time he looked at a house and try to make an offer,he would be out bid by others.

Ok, so he turned to builder for new house.. After going to three different builders and placed over six different bids for different plots/plans, he had lost every single one of them. He even tried offer 30k over the asking price.

He is now looking into Georgetown, or area between Liberty Hill and Leander.

Imagine if you buy a 500k house, and then each year pay 9k in property tax(and it iwll only go up).. its a lot of money.

 

[ponyo]

The housing market has been going crazy around here for the last several years, but this year is the worst.

One of my co-worker is trying to buy a 3k sq ft house around Round Rock for months. (RR is next to Austin). Each time he looked at a house and try to make an offer,he would be out bid by others.

Ok, so he turned to builder for new house.. After going to three different builders and placed over six different bids for different plots/plans, he had lost every single one of them. He even tried offer 30k over the asking price.

He is now looking into Georgetown, or area between Liberty Hill and Leander.

Imagine if you buy a 500k house, and then each year pay 9k in property tax(and it iwll only go up).. its a lot of money.

Yeah, I've been looking on Zillow and house prices in Austin are not cheap. And $9k in property tax sounds about right for $500k house. But $9k is absolute bargain compared to the state taxes some of us pay. I would trade and pay $9k in property tax in heartbeat if it meant I didn't have to pay state income tax. You have no idea what some of us pay in state income taxes.

 

[s0me0nesmind1]

Austin, TX, is going to be the next Silicon Valley. My wife and I are going to visit Austin next year to check out the area. If we like it, we might buy a house in Austin. No state income in Texas is huge incentive. But property taxes is pretty high.

I've always told people this: You can buy a low net-worth house. You will never say "I want less paycheck".

 

[s0me0nesmind1]

The housing market has been going crazy around here for the last several years, but this year is the worst.

One of my co-worker is trying to buy a 3k sq ft house around Round Rock for months. (RR is next to Austin). Each time he looked at a house and try to make an offer,he would be out bid by others.

Ok, so he turned to builder for new house.. After going to three different builders and placed over six different bids for different plots/plans, he had lost every single one of them. He even tried offer 30k over the asking price.

He is now looking into Georgetown, or area between Liberty Hill and Leander.

Imagine if you buy a 500k house, and then each year pay 9k in property tax(and it iwll only go up).. its a lot of money.

No doubt it is. My property taxes last year were around $14k total.

But what exactly is the property taxes in HCOL areas? Rates might be lower, but the property value itself plays a big part.

 

[FelixDeCat]

California is overdoing the "Eat the rich" thing.

I read an article a few months ago that claimed that certain high earners who live there could pay over 60% in federal and state taxes combined.

That's ........ insane.

You greedy sob. The last 40% of your earned income must be spent to pay for progressive socialism. Dont you want "free" college, "free" housing in a tent, "free" food from the foodbank and "free" healthcare?

Soon all you 1%'ers making $50,000 per year nationwide will pay your fair share.

Viva la Revolución!

 

[dasherHampton]

Dont you want "free" college, "free" housing in a tent, "free" food from the foodbank and "free" healthcare?

lol Some of these things aren't quite like the others.

 

[s0me0nesmind1]

You greedy sob. The last 40% of your earned income must be spent to pay for progressive socialism. Dont you want "free" college, "free" housing in a tent, "free" food from the foodbank and "free" healthcare?

Soon all you 1%'ers making $50,000 per year nationwide will pay your fair share.

Viva la Revolución!

I just don't understand how people can be so illogical as to say - Oh yeah, sure... absolutely... if I pay 60% or 30% tax on every dollar I earn I would still have the exact same actions of investment.

It definitely wouldn't alter my investment choices, risk credentials, amount of capital available, etc...

 

[zinfamous]

No doubt it is. My property taxes last year were around $14k total.

But what exactly is the property taxes in HCOL areas? Rates might be lower, but the property value itself plays a big part.

I guess I live in a HCOL area. My property taxes are about $5k. (~$400k house, ~1800 sq feet of actual living space, detached garage/workshop). I actually pay around half of that in property taxes, though. ....well, not sure about next year, because I got a new job with a much higher salary (I had been able to take advantage of income-based tax credit. ....but I think they use AGI for that, so I might still be able to 401k/HSA away nearly all of my new income to still claim the credit. We'll see.)

 

[FelixDeCat]

Tilray and Aphria in advanced merger talks, planning to move to United States!

Bought 1,000 TLRY @ 9.60 for a trade after hours.

 

[ponyo]

Tilray and Aphria in advanced merger talks, planning to move to United States!

Bought 1,000 TLRY @ 9.60 for a trade after hours.

Interesting. I'm holding 1,500 shares of APHA and 500 shares of CGC. Honestly, I bought APHA because they're buying SweetWater Brewery, and I thought that was pretty cool. I used to drive past the SweetWater Brewery plant on the way into downtown Atlanta.

 

[FelixDeCat]

Interesting. I'm holding 1,500 shares of APHA and 500 shares of CGC. Honestly, I bought APHA because they're buying SweetWater Brewery, and I thought that was pretty cool. I used to drive past the SweetWater Brewery plant on the way into downtown Atlanta.

Im hoping for $10 for my Tilray shares, at which point Ill cash in. Longer term this might be an interesting partnership, but we will have to get more information about the merger details. In the meantime all pot stocks will be in for a wild ride.

From what I've read so far, the new company will be called Tilray and run primarily by Aphria management. Their combined market share will be about 19% of total weed output (dont know if that was the Canadian or American market).

 

[dasherHampton]

I finally decided to put a stop/limit on my 5 TSLA shares at $600/$590. All this talk of a potential free fall kind of spooked me.

To be clear - I don't think TSLA is going down under $100 like some people say. I think that's ludicrous. But I'm probably going to be away from my trading computer for longer stretches these next few weeks. Safety first.

If it DOES happen it'll be fast and furious and overdone. Everyone and their mother will going to look to lock in their profits.

 

[FelixDeCat]

Bought 400 shares BLNK. Controversial but seems to keep growing. Options are beyond absurd due to extreme intraday volatility.

 

[RichieZ]

Q for all the options experts here, now that options for ABNB have started trading (https://seekingalpha.com/news/3644494-options-trading-to-start-on-airbnb), whats the best way for me to generate income from these given:

• Large short interest
• Small float
• High volatility
• I don't plan to sell at all

Options newbie here. Is there a primer or maybe a r/WSB post I should read?

Here's what my friend advised. Thoughts?

Write calls at a strike somewhat above the current price or a price you don’t care about selling it at
If the IV is like around 100
You can do just a month out and still get decent dough
2-3 months out probably the sweet spot
And maybe like 20% above current price
If price moves up and you don’t want to sell you can always move out your expirations too
Like buy back your shorts and sell new calls at a longer expiration and higher price and receive some more cash for doing so