Whatever guys, thread open. (1 Viewer)

[Eminence]

I have two cards:

Card 1: $1,500 in debt.

Card 2: $600 in debt

...and a hefty tax return coming.

Why do you have a hefty tax return coming? Why are you carrying credit card debt?

Well, I got my W2 from just when I was working at Olive Garden and that alone was $400+. I'd assume a $800 to 900 return once I punch in the numbers from Walgreens.

The credit card debt got mainly built up a year ago when I went to the casino and decided I wanted to bet on my credit. It's just been an annoying oversight since then that I'll hopefully have paid off shortly.

 

[TheIronSheik]

I have two cards:

Card 1: $1,500 in debt.

Card 2: $600 in debt

...and a hefty tax return coming.

Why do you have a hefty tax return coming? Why are you carrying credit card debt?

Well, I got my W2 from just when I was working at Olive Garden and that alone was $400+. I'd assume a $800 to 900 return once I punch in the numbers from Walgreens.

The credit card debt got mainly built up a year ago when I went to the casino and decided I wanted to bet on my credit. It's just been an annoying oversight since then that I'll hopefully have paid off shortly.

Luckily you'll never do something that dumb again. Lesson learned. Now, tell me again about how you plan on taking a cash advance on your credit card to buy some stocks. Which are you looking at?

 

[Ignoratio Elenchi]

Well, I got my W2 from just when I was working at Olive Garden and that alone was $400+. I'd assume a $800 to 900 return once I punch in the numbers from Walgreens.

That's not really how taxes work.

The credit card debt got mainly built up a year ago when I went to the casino and decided I wanted to bet on my credit. It's just been an annoying oversight since then that I'll hopefully have paid off shortly.

So you've been borrowing money at probably 30% interest just to loan it to the government at 0%?

 

[Eminence]

I have two cards:

Card 1: $1,500 in debt.

Card 2: $600 in debt

...and a hefty tax return coming.

Why do you have a hefty tax return coming? Why are you carrying credit card debt?

Well, I got my W2 from just when I was working at Olive Garden and that alone was $400+. I'd assume a $800 to 900 return once I punch in the numbers from Walgreens.

The credit card debt got mainly built up a year ago when I went to the casino and decided I wanted to bet on my credit. It's just been an annoying oversight since then that I'll hopefully have paid off shortly.

Luckily you'll never do something that dumb again. Lesson learned. Now, tell me again about how you plan on taking a cash advance on your credit card to buy some stocks. Which are you looking at?

Well, I was only going to do this under the assumption that I'd pay back any amount that I owed by the end of the month to avoid fees. For instance, buying $400 in Twitter Stock off a Cash Advance but then selling $400 worth of my Walgreens before the actual payment is due; letting it sit for a month.

Unless they charge me fees for cash advances even if I do pay it in full, in which case the whole scheme goes right out the window.

 

[Eminence]

Well, I got my W2 from just when I was working at Olive Garden and that alone was $400+. I'd assume a $800 to 900 return once I punch in the numbers from Walgreens.

That's not really how taxes work.

The credit card debt got mainly built up a year ago when I went to the casino and decided I wanted to bet on my credit. It's just been an annoying oversight since then that I'll hopefully have paid off shortly.

So you've been borrowing money at probably 30% interest just to loan it to the government at 0%?

I'll let you know the exact number of my tax return once I get that Walgreens W2. But no, my card was interest free until this year so now I'm paying a 20% APR on that card so it's become a priority to get it paid off (or at least lowered). I wouldn't hesitate to liquidate all my Walgreens stock to pay it off it off if that opportunity arose.

 

[UniAlias]

You should strongly consider taking a personal finance class.

 

[Cliff Clavin]

I have two cards:

Card 1: $1,500 in debt.

Card 2: $600 in debt

...and a hefty tax return coming.

Why do you have a hefty tax return coming? Why are you carrying credit card debt?

Well, I got my W2 from just when I was working at Olive Garden and that alone was $400+. I'd assume a $800 to 900 return once I punch in the numbers from Walgreens.

The credit card debt got mainly built up a year ago when I went to the casino and decided I wanted to bet on my credit. It's just been an annoying oversight since then that I'll hopefully have paid off shortly.

Luckily you'll never do something that dumb again. Lesson learned. Now, tell me again about how you plan on taking a cash advance on your credit card to buy some stocks. Which are you looking at?

Well, I was only going to do this under the assumption that I'd pay back any amount that I owed by the end of the month to avoid fees. For instance, buying $400 in Twitter Stock off a Cash Advance but then selling $400 worth of my Walgreens before the actual payment is due; letting it sit for a month.

Unless they charge me fees for cash advances even if I do pay it in full, in which case the whole scheme goes right out the window.

The probably don't but you won't know till you try.

 

[Eminence]

Admittedly, it's a little bit of a messy situation but once I'm out of it I'm going to be sitting pretty. I'd assume that by June-ish my finances should be looking up (and my portfolio too)!

NOTE: I don't mind taking a $7.50 - 15.00 hit on the last two stock picks that I've made. I'm more anxious than anything to dip my feet into the water and get a feel for how the market works. I'm more concerned with using my Walgreens stock to diversify my portfolio. If anything, I'll probably end up dumping my last two stock purchases in March / April if they haven't paid for themselves at that point.

 

[Eminence]

You should strongly consider taking a personal finance class.

I have, I got a B+ in it. Want to see my transcripts?

 

[phrozen]

You should strongly consider taking a personal finance class.

I have, I got a B+ in it. Want to see my transcripts?

Look at you Mr. Finance Big Swinging Dickthe cash advance is a good idea you are charged low interest rates right? Also you should put your down payment on your credit card that looks really good on your credit score.

 

[StrikeS2k]

NOTE: I don't mind taking a $7.50 - 15.00 hit on the last two stock picks that I've made. I'm more anxious than anything to dip my feet into the water and get a feel for how the market works. I'm more concerned with using my Walgreens stock to diversify my portfolio. If anything, I'll probably end up dumping my last two stock purchases in March / April if they haven't paid for themselves at that point.

Wait. You've been giving people stock advice but you don't know how the market works????

 

[TheAristocrat]

You should strongly consider taking a personal finance class.

I have, I got a B+ in it. Want to see my transcripts?

Yes, we do. Post them in here.

 

[Big Cat]

NOTE: I don't mind taking a $7.50 - 15.00 hit on the last two stock picks that I've made. I'm more anxious than anything to dip my feet into the water and get a feel for how the market works. I'm more concerned with using my Walgreens stock to diversify my portfolio. If anything, I'll probably end up dumping my last two stock purchases in March / April if they haven't paid for themselves at that point.

Wait. You've been giving people stock advice but you don't know how the market works????

He can't do any worse than that guy who told everyone to get out of the market.... just before the Dow jumped like 3,000 points.

 

[DocHolliday]

Pay off the credit card. That is a guarantee money loss if you do not. Once you pay off the cards, then you can return to building your empire. Paying the cards will only be a small delay.

 

[bushdocda]

Credit debt, saving for downpayment, cash advances, receivables from magic football, stock picks, transaction fees a huge % of purchases, ESPP, shorts. It's everything all at the same time.

No wonder you don't have money for food.

 

[Eminence]

Credit debt, saving for downpayment, cash advances, receivables from magic football, stock picks, transaction fees a huge % of purchases, ESPP, shorts. It's everything all at the same time.

No wonder you don't have money for food.

I get 20% OFF Walgreen's brand food.

 

[Eminence]

My realization is I need more weight. I need thousands of dollars of stuck constantly flucuating prices.

I buy $500 of Walgreens stock on the 31st. At that point I'll have $1,200 with $160 Walgreens available.

I will have $6,000 invested at the end of the year. That's when things will get very volatile.

 

[Mario Kart]

I simply cannot read this whole thing and, if real, am just waiting for the train wreck its going to turn into. This just cannot be real. It just can't.

 

[jamny]

I simply cannot read this whole thing and, if real, am just waiting for the train wreck its going to turn into. This just cannot be real. It just can't.

I would believe it if he was like 17 or 18 years old.

 

[ntz08]

I simply cannot read this whole thing and, if real, am just waiting for the train wreck its going to turn into. This just cannot be real. It just can't.

I would believe it if he was like 17 or 18 years old.

I think you're overestimating his social/emotional age

 

[fatness]

I simply cannot read this whole thing and, if real, am just waiting for the train wreck its going to turn into. This just cannot be real. It just can't.

It won't be a train wreck. It'll be a series of small up-and-down back-and-forth decisions that keep him exactly where he is for the next X years.

 

[DocHolliday]

I simply cannot read this whole thing and, if real, am just waiting for the train wreck its going to turn into. This just cannot be real. It just can't.

It won't be a train wreck. It'll be a series of small up-and-down back-and-forth decisions that keep him exactly where he is for the next X years.

The journey and ending will be much more enjoyable for us than Eminence.

 

[Premier]

I have two cards:

Card 1: $1,500 in debt.

Card 2: $600 in debt

...and a hefty tax return coming.

Why do you have a hefty tax return coming? Why are you carrying credit card debt?

Well, I got my W2 from just when I was working at Olive Garden and that alone was $400+. I'd assume a $800 to 900 return once I punch in the numbers from Walgreens.

The credit card debt got mainly built up a year ago when I went to the casino and decided I wanted to bet on my credit. It's just been an annoying oversight since then that I'll hopefully have paid off shortly.

Luckily you'll never do something that dumb again. Lesson learned. Now, tell me again about how you plan on taking a cash advance on your credit card to buy some stocks. Which are you looking at?

Well, I was only going to do this under the assumption that I'd pay back any amount that I owed by the end of the month to avoid fees. For instance, buying $400 in Twitter Stock off a Cash Advance but then selling $400 worth of my Walgreens before the actual payment is due; letting it sit for a month.

Unless they charge me fees for cash advances even if I do pay it in full, in which case the whole scheme goes right out the window.

 

[siffoin]

Honest question: Do you think you could find 1 stock each month that would gain 20%? Just a simple yes or no answer.

 

[UniAlias]

I have two cards:

Card 1: $1,500 in debt.

Card 2: $600 in debt

...and a hefty tax return coming.

Why do you have a hefty tax return coming? Why are you carrying credit card debt?

Well, I got my W2 from just when I was working at Olive Garden and that alone was $400+. I'd assume a $800 to 900 return once I punch in the numbers from Walgreens.

The credit card debt got mainly built up a year ago when I went to the casino and decided I wanted to bet on my credit. It's just been an annoying oversight since then that I'll hopefully have paid off shortly.

Luckily you'll never do something that dumb again. Lesson learned. Now, tell me again about how you plan on taking a cash advance on your credit card to buy some stocks. Which are you looking at?

Well, I was only going to do this under the assumption that I'd pay back any amount that I owed by the end of the month to avoid fees. For instance, buying $400 in Twitter Stock off a Cash Advance but then selling $400 worth of my Walgreens before the actual payment is due; letting it sit for a month.

Unless they charge me fees for cash advances even if I do pay it in full, in which case the whole scheme goes right out the window.

Well I don't know what's so funny.. He got a B+ in his personal finance class! He's clearly got everything completely worked out.

OP: Don't you still live at home with your parents? Have you discussed all these genius investment plans with them?

 

[fantasycurse42]

You like Plug Power at $3.4, you must really love it at $2.80? I hope my FA can recommend picks that I could lose 20% in two days

 

[Eminence]

You like Plug Power at $3.4, you must really love it at $2.80? I hope my FA can recommend picks that I could lose 20% in two days

You new to the stock market?

 

[Eminence]

You like Plug Power at $3.4, you must really love it at $2.80? I hope my FA can recommend picks that I could lose 20% in two days

You also failed to notice the stock I actually bought HEMP is up 20%.

TROLL.

 

[Eminence]

Honest question: Do you think you could find 1 stock each month that would gain 20%? Just a simple yes or no answer.

Considering I've already picked one and purchased it this month (HEMP), yes.

 

[Eminence]

I have two cards:

Card 1: $1,500 in debt.

Card 2: $600 in debt

...and a hefty tax return coming.

Why do you have a hefty tax return coming? Why are you carrying credit card debt?

Well, I got my W2 from just when I was working at Olive Garden and that alone was $400+. I'd assume a $800 to 900 return once I punch in the numbers from Walgreens.

The credit card debt got mainly built up a year ago when I went to the casino and decided I wanted to bet on my credit. It's just been an annoying oversight since then that I'll hopefully have paid off shortly.

Luckily you'll never do something that dumb again. Lesson learned. Now, tell me again about how you plan on taking a cash advance on your credit card to buy some stocks. Which are you looking at?

Well, I was only going to do this under the assumption that I'd pay back any amount that I owed by the end of the month to avoid fees. For instance, buying $400 in Twitter Stock off a Cash Advance but then selling $400 worth of my Walgreens before the actual payment is due; letting it sit for a month.

Unless they charge me fees for cash advances even if I do pay it in full, in which case the whole scheme goes right out the window.

Well I don't know what's so funny.. He got a B+ in his personal finance class! He's clearly got everything completely worked out.OP: Don't you still live at home with your parents? Have you discussed all these genius investment plans with them?

It's not very complicated. I make $23,000 a year and have a current net worth of -$1,500.

I'll have a great credit situation, a Associates degree, and money in the bank by the end of the year.

No need to talk with mommy and daddy.

 

[siffoin]

Honest question: Do you think you could find 1 stock each month that would gain 20%? Just a simple yes or no answer.

Considering I've already picked one and purchased it this month (HEMP), yes.

Ok Great. The commission cost are going to kill you at your current strategy. As I mentioned yest. the $ONVO is going to be 20% inut. The $HEMP is over 35% in commission costs. Commissions need to be a VERY VERY small % of the overall trade. Like under 2% MAX!

So here is my suggestion for a Piker like you.

Take your $1000 portfolio value and roll the entire thing into 1 position every month from which you can gain 20%. The moment the position reaches its 20% profit goal. Close it out.

If you can actually do this the balance of your portfolio will look like this in 12 months:

Piker account begins with $1000. Value calculated at the end of the month AFTER paying $15 commission costs

Feb: $1185

March: $1407

April: $1673.40

May: $1993.08

June: $2376.70

July: $2837.04

Aug: $3389.45

Sept: $4052.34

Oct: $4847.81

Nov: $5802.3

Dec: $6947.76

No way are you going to beat that kind of return piking with 8 shares of $ONVO and 73 shares of $HEMP

With that kind of return and actually documenting your trades, and you can have lots of clients via Covestor too.

 

[fantasycurse42]

You like Plug Power at $3.4, you must really love it at $2.80? I hope my FA can recommend picks that I could lose 20% in two days

You new to the stock market?

No I actually ask my FA to put all my money in the riskiest assets with the hope of losing 20% in two days. Should I hope it keeps going down to have a better cost basis? Now that it dropped 20%, how much more should I buy?

 

[Eminence]

Listen man, it was under stocks I was watching and I'm still watching. I read an article a few days ago that was down on PLUG, fwiw.

 

[Eminence]

Alright, well here's my gameplan for the next month. If anyone has any comments or feedback, let me know. I probably won't be posting in this thread much unless something jumps up in price significantly:

I'm gonna hold both the OVNO and HEMP stock until February 27th. On February 27th, I'll have about $160 in Walgreens stock that I'll be able to sell. All together, this should give me about $250+ to wheel and deal. I'm not sure specifically which stock I will buy, I'll have to see how things go over the next month or so but it's obvious that these small transactions I've made are not going to make me any significant money longterm. I'm thinking of putting it all into HEMP.

When Colorado legalized weed, HEMP stock literally doubled. If something similar happens when other states legalize, it might be smart to slowly build shares in that stock. It's gone up from .045 to .057 since I've bought it. Which while on paper sounds silly, is a 30% increase. If I had $250 invested rather than the $35 initial investment, I'd be sitting on $325 (a $75 gain).

Estimated Statistics:

WAG: $1,040

HEMP: $250

NET WORTH: -$850

I think this will give me a nice little bit of diversity to start off with. After this point, on the 31st of each month I will have $500 worth of Walgreens available to sell. $250 per transaction is going to be my new baseline per transaction.

If anyone has any tips or stock suggestions, let me know! I might cave a little earlier and buy something before February 27th. I get paid on February 6th and February 20th so the temptation will definitely be there.

 

[Dr Oadi]

This guys gonna be a millionaire.

 

[Card Trader]

Wait, you literally bought $35 worth of stock?!? WTF.

 

[Eminence]

Wait, you literally bought $35 worth of stock?!? WTF.

Yeah, in hindsight I now realize how dumb it was. The stock had gone up 20% yet I still haven't broke even if i trade it

 

[Mario Kart]

Wait, you literally bought $35 worth of stock?!? WTF.

Yeah, in hindsight I now realize how dumb it was. The stock had gone up 20% yet I still haven't broke even if i trade it

Are you concerned that you didn't make any money today? You didn't lose any either but are you concerned at all?

 

[fantasycurse42]

Wait, you literally bought $35 worth of stock?!? WTF.

Yeah, in hindsight I now realize how dumb it was. The stock had gone up 20% yet I still haven't broke even if i trade it

 

[Dr Oadi]

Wait, you literally bought $35 worth of stock?!? WTF.

Yeah, in hindsight I now realize how dumb it was. The stock had gone up 20% yet I still haven't broke even if i trade it

Just like every wage slave out their you are doing your part to make the rich man richer. Cheers!

 

[Eminence]

Anyone want to throw down and put $1,000 into Facebook? I've noticed some pretty cheap and pretty sleazy ads thrown to me through Facebook. And just wait until Facebook will link you directly to items to purchase online.

Facebook is interesting because most of the advertisements views come from those hardcore users that will probably Facebook until the day they die.

I know the market took a dump last Friday so I'm staking any specific claims. But I think a $1,000 Facebook purchase would be a good longterm investment. It's not going anywhere and I believe the business model leaves room for their revenue to grow; which it should.

Assuming the market doesn't continue to die (and lord, I really hope it doesn't) I think Facebook has a decent chance of being a valuable stock.

HOWEVER:

I noticed that when all these others stocks went down. My HEMP stock went up 12%. It almost felt that the devaluation of all these big name stocks actually helped my Penny Stock for two reasons:

1.) People likely didn't sell out of their penny stocks at it doesn't make a large part of their portfolio. But for someone who had big positions in Best Buy or 3D Systems really lost their ### the past few weeks. People with a lot to risk are more prone to sell their stock. Hence, less penny stocks were likely sold.

2.) As the average stock price lowers, the value in comparison to HEMP stock increases. It now take much less HEMP stock to buy stock in these others companies than it did before. And when this happens across a wide spectrum of the market, it in my opinion makes HEMP a decent rise pick.

HEMP: 0.045 (a few days ago)

MARKET TAKES A HIT: jumps up to 0.54

I think 3D Systems might be a Bubble Stock.

 

[Eminence]

Wait, you literally bought $35 worth of stock?!? WTF.

Yeah, in hindsight I now realize how dumb it was. The stock had gone up 20% yet I still haven't broke even if i trade it

Are you concerned that you didn't make any money today? You didn't lose any either but are you concerned at all?

I worked an 8-hour shift so I earned $90 today. No concerns here, creating currency.

 

[Eminence]

Wait, you literally bought $35 worth of stock?!? WTF.

Yeah, in hindsight I now realize how dumb it was. The stock had gone up 20% yet I still haven't broke even if i trade it

Just like every wage slave out their you are doing your part to make the rich man richer. Cheers!

I mean, it was an honest rookie mistake. I'm just going to have to run the numbers a little more thoroughly next time. It's not going to happen again and looking forward, that's all that matters.

The $15 - 30 bucks I might lose on transaction fees are puddles compared to the $6,000 I should have invested by the end of the year. I'm interested to see what the market does on Monday. I kind of hope Walgreens goes down in value so I can buy it at a cheaper price on the 31st.

 

[DocHolliday]

Wait, you literally bought $35 worth of stock?!? WTF.

Yeah, in hindsight I now realize how dumb it was. The stock had gone up 20% yet I still haven't broke even if i trade it

Are you concerned that you didn't make any money today? You didn't lose any either but are you concerned at all?

I worked an 8-hour shift so I earned $90 today. No concerns here, creating currency.

$90 after working 8 hours?!

If you want to get rich, you need to find a better job or career. You need to go back to school. For example you should learn a trade such as welding or get your nursing degree.

 

[The Kerminator]

Anyone want to throw down and put $1,000 into Facebook? I've noticed some pretty cheap and pretty sleazy ads thrown to me through Facebook. And just wait until Facebook will link you directly to items to purchase online.

Facebook is interesting because most of the advertisements views come from those hardcore users that will probably Facebook until the day they die.

I know the market took a dump last Friday so I'm staking any specific claims. But I think a $1,000 Facebook purchase would be a good longterm investment. It's not going anywhere and I believe the business model leaves room for their revenue to grow; which it should.

Assuming the market doesn't continue to die (and lord, I really hope it doesn't) I think Facebook has a decent chance of being a valuable stock.

HOWEVER:

I noticed that when all these others stocks went down. My HEMP stock went up 12%. It almost felt that the devaluation of all these big name stocks actually helped my Penny Stock for two reasons:

1.) People likely didn't sell out of their penny stocks at it doesn't make a large part of their portfolio. But for someone who had big positions in Best Buy or 3D Systems really lost their ### the past few weeks. People with a lot to risk are more prone to sell their stock. Hence, less penny stocks were likely sold.

2.) As the average stock price lowers, the value in comparison to HEMP stock increases. It now take much less HEMP stock to buy stock in these others companies than it did before. And when this happens across a wide spectrum of the market, it in my opinion makes HEMP a decent rise pick.

HEMP: 0.045 (a few days ago)

MARKET TAKES A HIT: jumps up to 0.54

I think 3D Systems might be a Bubble Stock.

Do you have a newsletter I can subscribe to?

 

[jamny]

Wait, you literally bought $35 worth of stock?!? WTF.

Yeah, in hindsight I now realize how dumb it was. The stock had gone up 20% yet I still haven't broke even if i trade it

Are you concerned that you didn't make any money today? You didn't lose any either but are you concerned at all?

I worked an 8-hour shift so I earned $90 today. No concerns here, creating currency.

$90 after working 8 hours?!

If you want to get rich, you need to find a better job or career. You need to go back to school. For example you should learn a trade such as welding or get your nursing degree.

No.16?

 

[jon_mx]

Living at home making $22k and still has a negative net worth.

 

[The Kerminator]

Living at home making $22k and still has a negative net worth.

Not if you take into account all of his comic books and porn collection

 

[bagger]

For all of you who were curious but not quite man enough to invest in the Eminence Fund here's the monthly report:

Twitter (45.62) (60.57) / +32%

Walgreens (56.40) (59.89) / +6%

3D Printing (DDD) (76.84) (92.17) / +19%

Verizon (49.04) (48.53) / -1%

T-Mobile (26.46) (32.60) / +23%

Amazon (388.35) (395.80) +2%

We're currently up 13%, I've got a few more GNARLY picks for anyone who is looking to ride the wave! Just let me know and we can pool something together.

How much money do you have personally invested in this "Eminence" fund? And specifically which stocks do you have you money in and in what percentages?

what would you have earned if you put your money in the s&p?

 

[Mario Kart]

Something I have been looking into, investment wise, since this thread started and eoMMan's thread started. The easiest/best way to begin investing, especially at a young age is to open a Roth and max it out each year. If there is any monies left over after maxing out, then look to build a stock portfolio and/or other investments (mutual fund, IRA's, bonds, etc.)

Anything wrong with going the above route? Max out the Roth and then diversify. That is what I am currently looking to do. Max out in one lump sum and sit back and watch. I have some leeway because my job affords me a pension when I retire, if I stick with it for that long, so while I have some money, not as much as are Eminence here, I have some room to invest outside of the pension.

Yes? No? Right? Wrong?