I don’t plan on making any changes to my portfolio. My financial advisor is telling me to sit tight over the Brexit crap. Apparently he’s been dealing with a bunch of chicken little clients.
Oil up son
(if I knew how to post pictures this is where I would post one of Hakan - the only saving grace of SF4)
Strat validated
Gold looks to be at a two year high. If you got in at the beginning of the year, good for you but I am not really looking that direction right now. At this stage is it good for anything other than a hedge?
I mostly deinvested in Europe so Brexit didn’t really affect me but I did put a couple of calls on Gold futures and I GOT PAID. I was considering oiling up as it seems to be a safe bet, but IMO you will have to be willing to hold onto it for a while, it will eventually pay back several times what you paid for it though. If you buy gold at a downswing I think it is worth it to hedge, but it’s so expensive right now I don’t know if it will really be that great of an investment. My grandfather gave me a large amount of gold in 2000, but I have just kept it because it keeps increasing in value. As it stands it has increased in value 4X in about 16 years, which is better than any other investment I have looked into. Eventually I may trade it all in on a property but I think I am going to wait and see as with all the nonsense going on with fiat money and banks right now I am unsure when we are going to hit the actual top. Still it’s pretty nice to know I could just pay off my house with a bag full of coins if shit ever hit the fan.
yeah, I guess you have to go in hard with oil if you are trying to make short term gains. But going long (2-3X) and dropping a sizable chunk may be worth it. A 2X leveraged crude ETF will commonly move about 3% (in either direction) any given day. And yesterday it nearly moved ~8% up. If you mistime your entry point you can usually just wait it out. Or if something goes royally wrong you can console yourself by looking at how low we are from two winters ago hahaa, because you are likely not going to want to sell and lock in that L. Well it is working for me so far. But I *am *an idiot.
yea UWTI and DWTI, both 3x levered to long and short oil move alot, especially when the EIA number comes out 10:30am on wednesdays.
i just played LABU, bought it monday at 22 and sold at 28 today.
as bearish as the market should be, buying the dip still continues to work.
People say commodities are risky (and they are), but betting on Biotech is super risky imo, Although I guess a sector stock is less risky than a single stock; drug discovery/development is a thankless endeavor and the industry is feeling it right now.
Crazy week, wow good for you. Sometimes I overthink it (though not as much as others), so maybe simply looking at the 52 wk lows and checking for an undervalued ones is a braindead but legit strat(?)
What are the economic fundamentals of the McRib?
Anybody have experience with DRIPs? I’m about to drop 1K into Microsoft DRIP and was wondering if I should look out for anything.
I left the plan details in the spoilers
[details=Spoiler]
PLAN DETAILS
Min. purchase for initial enrollment: $250.00
Min. purchase for enrolled participants: $25.00
Max. purchase for enrolled participants: $10,000.00 per day
When are optional cash investments made? Optional cash is invested daily
Sale of Plan Shares: Permitted
Discount on Optional Cash: No Discount
Discount on Reinvested Dividends: No Discount
SafeKeeping: Permitted
Monthly Direct Debit: Permitted
Certificate Withdrawal From Account: Not Permitted
Dividend Payable: Dividends are paid in Mar, Jun, Sep, Dec
Share Sale Fee: $15.00 and 10 cents per share broker commission[/details]
Just go to casinos for quick cash…
Hey seeking some advice on getting my finaces in order. Now that my hours at work are consistent now. Regular 40hrs a week with potential for over time. I’d say I’d bring in on average after taxes $650 bucks weekly. So monthly that’s $2600 per month. My main bills are…
rent: $503 per month
Car Note: $445 per month
Utilities: 60-70 per month
Food: $200 per month
Secondary Bills
Phone: 35 per month
Internet: 60-70 per month
Hair Cut: 40-50 per month
I haven’t factored in stuff such as gas for the car, laundry or random stuff. Also I have two other debts I haven’t been paying on. A debt to Georgia’s Department of labor for overpaid unemployement benefits, and my student loans. I was trying to save up some money before getting started on Student loan payments. Should I be paying on it now or can it wait? Also is there a benefit to having multiple checking accounts or a savings account? Also how can I go about getting any of these bills reduced. Like my car note is damn near as much as rent.
50 bucks a month on haircut…
Hey man Barber does good work. Only right to tip him on a job well done. But I guess I can lower the tip. It’s 15 bucks for a cut. I just don’t vreak the 20 and let him keep the whole thing as tip. So it comes to 40 a month. But that’s minor compared to the other stuff. Which is what I’m really concerned with
To answer your question: Yes. Any debt you have is the first thing you want to attack. Right now I’m afraid you’re going to need to cut back on the tip to your barber. It’s cool to show some love, but your bills need to get paid too. Not sure how much food costs around your way, but I’d look into trying to prepare meals at home if you don’t already. a couple sandwiches and salads per week would put a sizeable dent in that food bill I bet. Those bills are eating up pretty much everything before you even get it. Either overtime, another job, or a second job. If that isn’t an option right now, you might have to look at what you’re spending on. If I could get my utilities down to only 70 a month, I’d be able to save money hand over fist.
Dammit. There was a rather good YouTube financial vid that I thought I had bookmarked, but I can’t seem to find it right now. I’m still going to post the search link here.
https://www.youtube.com/results?search_query=financial+freedom
I think the Napoleon Hill ones are good, but I myself am just using the most basic strats: Leave it in the bank until I get smart enough not to fuck up. The only thing I have getting any cash right now is a DRIP in gas. The only reason it’s getting it is because it has been rather stable. Never moving very far one way or another and they keep their dividend running like clockwork. I hope I’ve been able to help.
-Starhammer-
Hmm OK. So I need to get on that student loan. I mean I would if it wasn’t for this Car Note. That money could’ve went towards it. I mean at 2600 a month. I think I’m left with a lil something each month. My bills as of now, number could change. Is $1,363 a month. $2600-$1363 Leaves me with $1,237 at the end of the month. That’s decent. Now adding student loan payments on top of that will hurt. But it must be done.
I do make lunches and dinner at home. But I buy meats, and veggies and what not. Guess I really gotta cut back on the name brand stuff, and snacks and what not. I go food shoping tomorrow. What would be a good target goal for weekly grocceries? And I’ll check out that vid you linked.
Yeah definitely get working on the student loan. Btw, student loans are one of the few things that can’t be discharged with personal bankruptcy. So you’re stuck with them until you’re 50 or something.
You want to pay it off now so that you don’t have to pay the extra interest on the loan. Every dollar you spend on interest is another dollar you’ll never see again.
As far as food, yeah avoid name brand stuff as much as possible. Also, fruit, vegetables, bread, eggs and milk (and soup, maybe rice, and I’d guess water) have no sales tax, so they tend to be cheap as hell. I never spend more than $50 a week on groceries, and that’s with the brand name stuff that I buy.
And quit giving your barber so much damn money. I only get a haircut about 4 times a year so maybe I can’t relate to $50 a month.
Edit: Oh and no, there’s really no advantage to having both a checking and a savings account. Savings accounts are earning about .25-.5% (literally a few cents per year) interest. Just save the money on the additional management fees you’ll pay; forgo the savings account and keep it in checking.
@twigster Ah Ok, so I’ll get on that student loan. As for food. I mean 200 bucks a month basically equates to 50 a week likr you’re spending. So I must be doing pretty good on my food bill as is right? I’ll try to limit my haircuts. I’ll also look into trying to refinance my car. I heard that can help lower my payments. Also how much should I pay on my student loans? I believe i have about 35k in loans. i want that paid off my the time I’m 30.
S&P is so close to breaking new all time highs, this week coming up, its now or never!
@bb_Hoody, if you want a budget spread sheet pm me. I can set one up for you and you can keep track of stuff.
I actually do use my savings account believe it or not. It is just that stored cash that I can get to quickly if I need it quickly, but not IMMEDIATELY. That way I have a few more minutes to think which is about all my brain needs to say,“Hey. Stupid. You know damn well you can live without that boobie mouse pad! Stay focused!!” It’s a brain dead way of having the main bills account separate from the savings so that when I FINALLY do decide to go hard on some investment(s), I’ll know what I have to play with. As far as earning anything on a savings account, I don’t think those days will ever come back.
Speaking of which, what are all of you using to learn how to invest? Right now I’m just looking through some of the books that have been mentioned here, but if any of you have any good places online, I’d love to know about it and I’m sure the rest would too.
EDIT: meant to put this here too. www.dividend.com. for the dividend peeps. I know I have put it here before, but this will keep people from having to dig through the whole thread looking for it. Also,That monthly income planner. :tup:
-Starhammer-
look at the S&P roar!! 2151!! another new intra day record high!