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Posted
1 hour ago, Cheeseweasel said:

And just like that everything went from Green to Solid Red.

You're just a terrible investor. Through my uncanny market acumen, I made $10 today. 

I'm going to Freebirds!

Posted

I completed my backdoor Roth for the full 7,000 (I'm an old) on Tuesday.  Great timing.

Funny thing about psychology, I spent last night lamenting that I got that 7k in right before a sharp drop.  Didn't think twice about the far larger amount already in the Roth that was hit by the same downturn.  I guess in my mind somehow the funds were different.

Posted

Every year I do my backdoor Roth IRA I genuinely get nervous if this is in fact legal. And I have to Google for about 30 minutes before I put money into the regular IRA and then hit transfer. Every year. 

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Posted
2 hours ago, UTGrad98 said:

Every year I do my backdoor Roth IRA I genuinely get nervous if this is in fact legal. And I have to Google for about 30 minutes before I put money into the regular IRA and then hit transfer. Every year. 

Climate Change Un GIF by MOODMAN

  • Haha 1
Posted

I don't know nothin', but this one feels a bit more dippy than in the past. I don't think we're talking crash or anything, but just not as quick a dip as we've seen in the past.

Posted
16 hours ago, UTGrad98 said:

Every year I do my backdoor Roth IRA I genuinely get nervous if this is in fact legal. And I have to Google for about 30 minutes before I put money into the regular IRA and then hit transfer. Every year. 

What's the limit again for a direct ROTH contribution? 

Posted
19 minutes ago, FirstTimeCaller said:

I don't know nothin', but this one feels a bit more dippy than in the past. I don't think we're talking crash or anything, but just not as quick a dip as we've seen in the past.

Did you buy the dip? You gotta buy the dip.

Posted
18 hours ago, UTGrad98 said:

Every year I do my backdoor Roth IRA I genuinely get nervous if this is in fact legal. And I have to Google for about 30 minutes before I put money into the regular IRA and then hit transfer. Every year. 

Same here.  I still don't completely understand how to separate recent from old contributions from the traditional IRA for the backdoor Roth conversion.   Have you found any clearly written, non technical articles explaining exactly how to do this from a preexisting IRA without fucking yourself with the IRS? 

Posted (edited)
1 hour ago, Horn Dog said:

Same here.  I still don't completely understand how to separate recent from old contributions from the traditional IRA for the backdoor Roth conversion.   Have you found any clearly written, non technical articles explaining exactly how to do this from a preexisting IRA without fucking yourself with the IRS? 

No but that isn't my particular situation. I would not want to begin to give you any advice on your issues. I have a 401k with my company. I created an IRA with vanguard and literally put in 6k a year then immediately transfer the balance over. My individual IRA is at 0 dollars. I actually think I have screwed up the past 2 years because my company may offer a mega back door Roth as well. I always thought it was either or and never educated myself on what a mega back door Roth IRA was. So I chose to put my money in the company 401k and not the Roth ira. Turns out i may be able to put up to 33k each year into the company Roth IRA in addition to the 19.5k I put into the 401k. Seems too good to be true but I am  reading more companies are doing this. Perhaps some one more educated than myself can comment.

Edited by UTGrad98
Words
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Posted

Just wanted to say that this thread is living up to its name.

QQQ down nearly 8% in a week. SPY down about 4.5%. 

Posted
1 minute ago, Incredulity said:

Cathie Wood must feel great.

I think she's kind of a hack. she made the correct play to pile money into momentum tech stocks when the fed was blatantly juicing all markets, but also failed to realize when that strategy had run its course. her portfolio still heavy with richly valued companies, so we'll see if the carnage gets worse. 

Posted

Powell up for re-nomination from Biden.  Having discussions with Senate where everyone loves the sound of their own voice. Warren of course grandstanded like she always does in a most irritating fashion. Kennedy (LA R) then completely threw some zingers her way and a lot of grandstanding senators’ way. 

Posted
17 minutes ago, Porterhouse said:

 Warren of course grandstanded like she always does in a most irritating fashion.

barf

i actually had a sliver of respect for her up until recently seeing some of the sensationalist remarks she put out publicly blaming everything and everyone, clearly just trying to roil up voters.  pathethic.

  • Like 1
Posted (edited)
54 minutes ago, 52-80 said:

barf

i actually had a sliver of respect for her up until recently seeing some of the sensationalist remarks she put out publicly blaming everything and everyone, clearly just trying to roil up voters.  pathethic.

If I were Dimon or Powell or whomever, I’d just fuck with her. One word responses that are in no way answers.  Just utterances acknowledging there’s a grandstanding verbal diarrhea cunt on the other end. Like Marshawn at the Super Bowl. 

Dimon kinda did. “Will your bank refund $1.4B of overdraft fees to its consumers in 2020 during a pandemic”

”No.”

“Right now!” 

“No.”

She was totally flustered and repeated the question, as the answer was totally unexpected for her. 

“No.”

It was great. 

Edit: found it: 

 

Edited by Porterhouse
Posted
11 minutes ago, Porterhouse said:

 

 

Definitely, if theres anything ever we could morally indict the major US banks for….its for collecting the $34 overdraft fees.

Lord christ the pandering

Posted
On 1/7/2022 at 10:29 AM, FirstTimeCaller said:

I don't know nothin', but this one feels a bit more dippy than in the past. I don't think we're talking crash or anything, but just not as quick a dip as we've seen in the past.

I stand by my statement.

Posted
13 minutes ago, Aqua Buddha said:

Peleton halting production of all products because they have too much inventory.  Stock getting blown out.  Down 25%.

Wouldn't that seem to imply that demand has just fallen off a cliff? Or was it just massive overproduction? Or are consumers turning "tight" overnight?

Somewhat surprised at how hard it's been hit as I see it as a status symbol. Apple, Mercedes, Range Rover, Peloton, Lululemon, Starbucks. I guess people don't want status symbols that mean you have to exercise.

Posted
3 minutes ago, FirstTimeCaller said:

Wouldn't that seem to imply that demand has just fallen off a cliff? Or was it just massive overproduction? Or are consumers turning "tight" overnight?

Somewhat surprised at how hard it's been hit as I see it as a status symbol. Apple, Mercedes, Range Rover, Peloton, Lululemon, Starbucks. I guess people don't want status symbols that mean you have to exercise.

It's a little of both.  They projected never ending demand and stocked up to meet that.  According to CNBC that saw some internal memo, demand has also fallen off a cliff.  It was always a niche product but the company seemed to think they'd be mass market.

They still have solid revenue from current subscriptions, though.

Posted
27 minutes ago, Aqua Buddha said:

It's a little of both.  They projected never ending demand and stocked up to meet that.  According to CNBC that saw some internal memo, demand has also fallen off a cliff.  It was always a niche product but the company seemed to think they'd be mass market.

They still have solid revenue from current subscriptions, though.

In their last quarterly report, they generated about 300 million (out of a total of 800 million) in subscription. They actually break out the cost of revenue for subscription as $100 million. And then you have all the other company overhead, much of which remains

image.png.39b3c9ad9b7bc7cf2bf14e59ed702509.png

$9 billion market cap still seems pricey for this money-losing shitheap. 

Posted
2 hours ago, Aqua Buddha said:

It's a little of both.  They projected never ending demand and stocked up to meet that.  According to CNBC that saw some internal memo, demand has also fallen off a cliff.  It was always a niche product but the company seemed to think they'd be mass market.

They still have solid revenue from current subscriptions, though.

That coupled with a bunch of people stuck at home for a while that got free money to buy shit they may have wanted but not needed, then things returning to more normal got them in an aggressive production/unrealistic expectations pickle.  

Posted
1 hour ago, FirstTimeCaller said:

Woof. From up 1.5% to down 0.3%. This market is feeling testy.

Several times over the past 2 weeks there have been big selloffs starting about 30 minutes before close.

Netflix just had a 100 point flash crash right after the bell rang. Bitcoin dropped $1300 in the past hour.

Posted (edited)
5 minutes ago, Storm the Field said:

Several times over the past 2 weeks there have been big selloffs starting about 30 minutes before close.

Netflix just had a 100 point flash crash right after the bell rang. Bitcoin dropped $1300 in the past hour.

I don't think that's a flash crash. It's still down. What's up with that?

Nevermind, it is earnings. 

Edited by FirstTimeCaller
Posted
3 minutes ago, Cheeseweasel said:

I was told corporations are making record earnings...

"Full year revenue of $30 billion grew 19% year over year while operating income of $6.2 billion rose 35% year over year. "

Don't have a Bloomberg terminal in front of me, but those seem to be records. Net income was lower due to content spending.

Posted
16 minutes ago, FirstTimeCaller said:

"Full year revenue of $30 billion grew 19% year over year while operating income of $6.2 billion rose 35% year over year. "

Don't have a Bloomberg terminal in front of me, but those seem to be records. Net income was lower due to content spending.

Guided down on subscriber growth. 

Posted

Pton is just looking to be snapped up by a big sports player to absorb the SGA costs. 

They have incredible brand equity, a cash rich target demo, and unmatched stickiness/satisfaction. Everyone who has one *loves* it. 

I dont buy the narrative that it was a pandemic play and thats why its now sizzled out. People riding this wasnt spandex bikers who can go outside again. This was for mommies replacing their spin class and theyre not going back to that. 

Good value buy right now at 2x sales. 
 

Posted
7 hours ago, FirstTimeCaller said:

Somewhat surprised at how hard it's been hit as I see it as a status symbol. Apple, Mercedes, Range Rover, Peloton, Lululemon, Starbucks. I guess people don't want status symbols that mean you have to exercise.

People want status symbols they can show off. Peloton is the only item in your list that is not outwardly visible.

Posted
1 hour ago, Sam Lin said:

People want status symbols they can show off. Peloton is the only item in your list that is not outwardly visible.

But the gram tho

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