#noncrypto-investing (Discord ID: 352760194775777282) in MacGuyver - Skills & Academics, page 5


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2018-01-21 00:28:00 UTC

As a member of a credit union, you are a part owner in the institution and it is not for profit. Better rates as well and it still has deposit insurance. https://www.moneycrashers.com/why-credit-unions-are-better-than-banks/. @John O -#7072

2018-01-21 01:49:37 UTC

I've never not used credit unions

2018-01-21 02:02:41 UTC

Those are the basics. For everyone else, essentially you get better rates and customer service because off the non profit coop structure

2018-01-21 21:02:29 UTC

Any suggestions for making some extra money on the side in college apart from a basic entry-level job? At the moment I'm doing the max credit hours for my university plus a job at a library making minimum wage, but I'm curious if there's any other options to remedy the stereotypical "broke college student" issue.

2018-01-21 21:30:42 UTC

@Marseille I'm hesitant to suggest manual labor to a woman, but stuff like cutting grass is pretty easy, and especially rn when it's not hot out, not very exhausting

2018-01-21 21:47:31 UTC

@Marseille apply to call center jobs online, there might be one in your area. I got a job during last semester at a call center making $17 an hour. If you get it, drop the low paying student job. Call centers love college students because they’re ok with short term assignments, are educated, can speak well and follow a flow chart, and don’t have to pay them benefits.

2018-01-21 21:52:05 UTC

Also, any money made right now will be insignificant in a few short years. Make sure the GPA is solid and that you’re networking regularly. Practice interviewing, polish resume, get good summer internships, get to know job recruiters from your target companies, attend multiple career fairs. Prep work now could get you a signing bonus or a salary offer that blows away all the part-time work you’re doing now.

2018-01-21 21:55:58 UTC

Source: Engineering degree in 2010, MBA graduate last month

2018-01-21 22:02:04 UTC

@Marseille I have to agree 120% with @Tanner - SC here. Economically any work you do now actually works against you in the long run. If you're not studying for better grades, "work" by networking, which can even be as simple as participating in college clubs relevant to your future career. The kids I knew who worked the least (often not at all) in college are now the ones making the most, because they were able to dedicate their college years into investing in themselves. I have a strong suggestion that is going to be controversial if I don't make a certain nuance clear: i strongly suggest taking out loans and using credit cards to finance your *personal consumption* as much as possible. The nuance is that I am not saying to take out money for tuition (though you may not have a choice in that), but your personal consumption as a single college student is going to pale in comparison to the paychecks you get from a well paying job after you graduate.

2018-01-21 22:12:29 UTC

@ThisIsChris I've heard a lot of that from acquaintances. They're living really well and waiting to pay it off later, which obviously can be an issue if you're living far beyond your means, but the idea is there.

2018-01-21 22:12:33 UTC

Thank you guys.

2018-01-21 22:42:14 UTC

Tfw an apprentice and my school is my job

2018-01-21 22:42:36 UTC

@Deleted User How's that going?

2018-01-21 22:54:12 UTC

Good

2018-01-21 22:55:18 UTC

If you ever need help, let me know. I still have a ton of notes.

2018-01-21 22:56:02 UTC

Thanks brother 👌🏻

2018-01-21 22:56:21 UTC

My classes don't start till August to be fair

2018-01-22 19:25:16 UTC

@Deleted User @Zyzz I've been longing over NVDA, decided to buy some calls again, 230 strike with 2/9 expiry (right after earnings), I tried to offset the cost a bit by selling a 240 call expiring Friday. (That makes this my first diagonal calendar spread)

2018-01-22 20:20:56 UTC

@ThisIsChris good luck to you. This market seems like it can’t go down. I hit my 10% threshold for SSO today and sold half my stake. Now letting the other half ride for now. I will reassess in May

2018-01-22 20:29:55 UTC

@Zyzz nice job, I agree have to take some profits along the way. at the same time I'm trying to not sleep on the wayside while things go up, so I'm using options to rigidly define my p/l scenarios. But I don't want to be waiting years for an eventual crash before making bullish trades. Trying to tread carefully

2018-01-22 20:30:45 UTC

@here I try to give a warning a week about risk in investing, instead this week I give you this video. https://www.youtube.com/watch?v=E1xqSZy9_4I

2018-01-22 20:32:22 UTC

It's a guy who's job is to read market quotes as his normal day jobs, and he's reading the quotes out during the Flash Crash of May 6 2010

2018-01-22 20:40:19 UTC
2018-01-22 20:45:59 UTC

@John O - yeah, that was crazy. anyone who didn't panic sell turned out fine though, the market recovered in a few minutes, it was basically attributed to algorithmic trade machines going into a negative feedback loop and causing each other to go down

2018-01-22 20:56:17 UTC

That's one of the most frightening things, to realize how fragile everything is. My cousin was telling me about cyber security a few months ago, and I almost shit myself. This is another great example of no matter what you do, a huge portion of your fate is out of your control

2018-01-22 21:05:04 UTC

@John O - omg so true, I interviewed at a cybersecurity firm once and they said all the computer exploits outthere are like a giant iceberg and the entire cybersecurity industry is just frantically trying to get visible peak above water and doesn't have the resources for everything below

2018-01-22 21:06:43 UTC

There's some service (governmental I think) that whites reports on all exploits found and that company's whole job was trying to sift through to inform sysadmins which ones they were most at risk of

2018-01-23 22:29:50 UTC

@here This should be really easy idk why I'm being so slow atm: What is the cash flow of a 15-year bond that pays coupon interest semiannually with coupon
rate 7.5% and par value $100,000?

2018-01-23 22:30:36 UTC

I'm assuming I just calculate the cash flow for all 30 payment periods? I missed class the day this was discussed.

2018-01-23 23:12:50 UTC

nvm

2018-01-24 03:47:08 UTC

@ThisIsChris Thanks for the heads-up! I'm going to take a look. I'll let you know if I decide to piggyback it

2018-01-24 03:55:39 UTC

@Deleted User Yeah I am curious what you think!

2018-01-24 03:55:57 UTC

Wow, that stock has been on a tear the last two weeks.

2018-01-24 03:56:06 UTC

I would have jumped on it if I had seen it yesterday.

2018-01-24 03:56:27 UTC

With that huge gain today I think I've missed a lot of the opportunity.

2018-01-24 03:57:04 UTC

What's surprising is that Intel's stock is basically unchanged from its earlier highs despite the tech-heads freaking out over Spectre and Meltdown

2018-01-24 03:57:17 UTC

At the same time it's clearly more wind in nvidia's sails.

2018-01-24 05:04:46 UTC

Yeah it's hard to judge when the NVDA train might stop. I mean, "now" is a valid answer, but earnings report is just 2 weeks away

2018-01-24 16:59:32 UTC

@ThisIsChris knowing when it’ll stop is a tough game to win. SSO is currently up 1% since I sold half my stake. Of course I would have loved to make that extra money but I had no idea it would continue to go up. At some point you have to look at your current profit, be content with what you made, and sell a portion (or all of it)

2018-01-24 17:00:00 UTC

As the saying goes “bears make money, bulls make money, but pigs get slaughtered”

2018-01-24 19:43:37 UTC

@Zyzz yep, good thing to keep in mind. I just heard one of the signals I consider bearish: normies in my office talking about NFLX earnings. Reminds me of sitting on the subway last month and hearing normies talk about Bitcoin.

2018-01-24 19:44:38 UTC

http://mondoweiss.net/2012/03/wall-street-firm-slammed-the-door-on-young-warren-buffett-for-religious-reasons/ this is an interesting article I'm not sure what to make of yet. It's written by a Jew, talking about bitter Jews controlling Wall Street, and the non-prejudiced non-Jews who eventually warmed some of their hearts.

2018-01-27 07:13:53 UTC

https://cdn.discordapp.com/attachments/352760194775777282/406708376043782165/Screen_Shot_2018-01-27_at_2.11.32_AM.png

2018-01-27 07:14:51 UTC

https://cdn.discordapp.com/attachments/352760194775777282/406708620307202048/Screen_Shot_2018-01-27_at_2.13.09_AM.png

2018-01-27 07:15:21 UTC

@here anyone who's been watching the market especially with respect to AMZN and NVDA

2018-01-27 07:33:19 UTC

@Zyzz remember a few weeks back you said you were trying to identify where an asset bubble might be coming from? I was interested too so I hunted down this information from the Federal Reserve:

https://cdn.discordapp.com/attachments/352760194775777282/406713267898155019/Screen_Shot_2018-01-27_at_2.31.15_AM.png

2018-01-27 07:35:34 UTC

Here it shows that the total debt balance is higher than '08's levels, but it's way lower for Mortgages and HE Revolving this time, somewhat lower for credit card debt, but way higher for auto loans and student loans, just as you were saying.

2018-01-27 12:18:20 UTC

@ThisIsChris nice find! Seems like the auto loan and student loan balances have increased tremendously.

2018-01-27 12:19:46 UTC

If those asset bubbles were to pop you’d have to have something happen in the economy where a lot of jobs are lost

2018-01-27 12:20:06 UTC

I don’t think either will lead us into a recession but they will prolong it

2018-01-28 13:41:16 UTC

I think the read through here is 1) there will be a ripple effect when the auto loan bubble does indeed pop, 2) the popping of the bubble will cause automakers to pull back on production (cutting jobs) and will cause dealerships to cut back on sales/financings (cutting jobs), 3) lenders have court precedent saying they can garnish wages - this will ripple through the rest of economy as it will take away from other spending, 4) negative equity balances on trade-ins are being rolled into the next car loan - this has its own set of problems and issues

2018-01-28 13:44:33 UTC

We have 3 varibles that impact how much car someone can buy(monthly payment) - 1) term, 2) interest rate, 3) principal. we know interest rates are increasing. if there is any shock to the economy it would be reasonable to assume interest rates on sub prime and near prime auto loans would spike (flight to quality). Principal balance is increasing - 1) used car prices are increasing, 2) negative equity being rolled into next loan. The only relief for borrowers is to extend the term of their loan.

2018-01-28 17:17:58 UTC

Historically low interest rates forced there by central bank manipulations is creating crazy levels of indebtedness. It will end ugly. Thanks for sharing, this is the first I've seen data on the equity of trade-ins and I'm not surprised at all.

2018-01-29 00:32:57 UTC

Good stuff.

2018-01-29 00:36:10 UTC

@Zyzz Is there anything to stop lenders from extending the terms of the borrowers loans indefinitely?

2018-01-29 00:37:14 UTC

Are 7 year car loans a thing yet?

2018-01-29 00:40:49 UTC

@Why Tea I believe so yes

2018-01-29 00:41:21 UTC

This madness must stop.

2018-01-29 00:41:25 UTC

@ThisIsChris I dont think so. or at least i hope not because an unwillingness to extend the loan term wil result in a cascade of defaults

2018-01-29 00:43:55 UTC

@Zyzz yeah I don't see why a lender wouldn't allow it unless he's worried the borrower is going to die soon. What this makes me wonder if this bubble could just keep growing for a decade or two, since I don't see why lenders would start clamping down now. Although I think that's what you are saying, now that I think about it, that it is something that will instead exacberate some other crisis if lenders become short on money and start demanding the balances start getting paid off. Right?

2018-01-29 00:45:59 UTC

@ThisIsChris an easy way around "the borrower may die soon" is to require a cosigner to the loan. or require a down payment upfront. yes, the zero hedge article does mention this could be a slow build in the level of debt some people have. a slow snowball effect. I think this is probable.

2018-01-29 00:47:19 UTC

yes i think in times of crisis during a refinance a lender may require a downpayment from the borrower. or they may require the borrower pay down the negative equity balance

2018-01-29 00:51:10 UTC

Interesting, do you have any suggested investments that might take advantage of this information? Shorting car manufacturers perhaps? @Zyzz This is on my todo list of things to research this week but I don't have many ideas to start. As I understand it for new cars it is often the manufacturer themselves that provides the financing, I don't know about the used car market though.

2018-01-29 00:54:45 UTC

@Why Tea I knew a guy who had been paying off his car for 7 years

2018-01-29 02:04:03 UTC

@ThisIsChris yeah shorting car manufacturers and suppliers is a good start. Subprime lenders or really any company that has exposure to subprime credit is a good area to look. I do not have the conviction to name companies/price targets but those are the areas

2018-01-29 02:04:29 UTC

Another way to think of it is what ripple effect will these defaults have.

2018-01-29 02:05:17 UTC

I remember during the financial crisis is seemed like it was one subsector after the other that was getting hit on different weeks and months. First it was the banks, then the agencies, then the home builders, etc

2018-01-29 02:06:15 UTC

Also just so you know I am not necessarily keeping track of this stuff bc I want to start a short on any particular company but because I want to keep my pulse on the boom in the business cycle.

2018-01-29 02:07:23 UTC

The real money will be made when it all crashes. And I don’t mean on the short end. I mean when it crashes and settles. When that happens no one will 1) have money and 2) will want to buy anything. This is where the real money is made

2018-01-29 02:07:58 UTC

The richest guys are those who had spare cash in 2010 and 2011. Those who bought property when you couldn’t give it away

2018-01-29 02:19:18 UTC

@Zyzz It's really just hard for me to believe it will get down to those levels again. I kinda WANT to believe that it will, just because it was such an amazing time to buy and now I might actually be able to, but there's a huge question to me whether I should stay in the stock market or hold back and wait for an economic crisis.

2018-01-29 02:26:28 UTC

@ThisIsChris i would continue to invest in the market. the idea is to keep your hand on the pulse of it all. the main reason why i think about and attemp to predict the next cause of the next recession is so i can pull my money out when it looks like we are getting close

2018-01-29 02:27:03 UTC

with that said, keep a diversified portfolio and a healthy amount in cash

2018-01-29 02:27:44 UTC

@Zyzz Thanks for the perspective man

2018-01-29 02:29:09 UTC

Yeah I would like to know that too, my head's been spinning seeing Bitcoin then NVDA then AMZN going up so fast, as well as the overall market in general.

2018-01-29 02:31:35 UTC

the market has been on a tear which makes me nervous which is why i sold half my SSO stake when i hit a 10% return

2018-01-29 02:34:09 UTC

i am taking part of that money and redeploying in an Aerospace & Defense fund and adding a little bit to my CLNS-J preferred stock which is currently yielding ~7.6% after selling off

2018-01-29 02:35:57 UTC

i go back and forth between how much cash i want on hand vs. how much i want to be invested

2018-01-29 02:40:26 UTC

most of my investments are in retirement accounts so i wont have access to it for quite some time

2018-01-29 02:41:45 UTC

@Zyzz yep most of my investments are in retirement accounts too, split about half and half between retirement accounts and retail accounts.

2018-02-01 19:40:26 UTC

@Zyzz is it a good idea to buy and hold bond funds as interest rates are rising? The underlying fund will go down in value but would the interest payments make up for the decline?

2018-02-01 19:48:59 UTC

@GetOffMyState#8267 highly unlikely. Now is generally a good time to get out/not buy yield stocks and bonds. If you absolutely have to(or want to) hold some sort of fixed income product you’re going to want to buy something with a high coupon/dividend rate (assuming they can actually make the payment/cover the dividend). The idea being is a a larger part of their present value is made up of the coupon payment as opposed to the bond maturity value so the inevitable decline in value (as rates rise) will not be as severe as it would at a lower coupon level (all else equal). To answer your question directly, given the low level of interest almost all bonds pay right now, no the interest earned would not make up for most of the decline

2018-02-05 20:12:18 UTC

No stockmarket watchu doin stahp

https://cdn.discordapp.com/attachments/352760194775777282/410165761860960306/Screen_Shot_2018-02-05_at_3.11.00_PM.png

2018-02-05 21:02:14 UTC

https://cdn.discordapp.com/attachments/352760194775777282/410178330042826763/image.gif

2018-02-05 22:08:12 UTC

haha thanks @Deleted User . WIsh I had checked my Doom Paul o'meter this morning

2018-02-06 03:44:01 UTC

Old Fed Chair says she created a bubble

2018-02-06 10:45:03 UTC

Lol created a bubble? Of course she did. This entire “recovery” has been about asset appreciation. Only now are we actually starting to see wage growth

2018-02-06 14:52:15 UTC

hm, market opening strong today

2018-02-07 00:12:43 UTC

Bro my normie mom has lost so much money the past few days and is buying at the same time lol.

2018-02-07 00:18:47 UTC

@JesseJames wow i feel bad for her losing money , today was a respite for her though, market went up

https://cdn.discordapp.com/attachments/352760194775777282/410590178285977601/Screen_Shot_2018-02-06_at_7.18.20_PM.png

2018-02-07 00:22:29 UTC

I haven't spoken to her today but I'd say she is pleased with that. She was telling me it was some kind of correction where it shot up so fast. I'm not into trading and all of my investments are in very safe places. And I leave them alone. She is very into trading and investing. She lost 200k after 911 and stuck with it and loves it.

2018-02-07 00:27:21 UTC

@JesseJames despite the loss, she sounds like a lady that follows stocks! People have been expecting a correction for a few weeks now, it's part of the normal business cycle

2018-02-07 00:48:27 UTC

Yes for a woman she is pretty smart. Also pretty darn successful.

2018-02-07 04:24:53 UTC

https://cdn.discordapp.com/attachments/352760194775777282/406713267898155019/Screen_Shot_2018-01-27_at_2.31.15_AM.png @Tanner - SC interesting check out this picture I made a few weeks ago, it's just snapshots comparing household debt by asset class now and before the 2008 crash. One noticable thing is how HIGH automotive debt is. And if you look deeper in the fed report, some 31% of automotive loans are in default, it's crazy

2018-02-07 11:07:56 UTC

The auto loan market is a mess. I don’t understand how they can still make all of these auto loans and have defaults like that. Who the hell is buying all of these securitized auto loan products?

2018-02-07 11:09:19 UTC

A pull back in auto lending will send ripples through the auto industry which will probably result in layoffs at manufacturing plants/dealerships/auto lending people. Perhaps even at the corporate level as well

2018-02-09 06:20:50 UTC

Wow, this may be one of the most accessible yet comprehensive investing guide's I've seen: http://tlc.thinkorswim.com/center/howToTos/main/0/groups/0/file/HowTothinkoswim.pdf

2018-02-09 15:01:19 UTC

Will check this out after work

2018-02-22 23:00:26 UTC

I don't know where it is appropriate to post this but my brother will graduate this semester from undergrad and is still looking for a job. He goes to Pittsburgh uni, double major in actuarial science + Econ, he has a 3.5 gpa but a 3.8 in his majors. Will give transcript + resume to those who dm. He isn't "one of us" but he is "trumpist". He is willing to move wherever in the continental US. If you have experience getting a job in this field please DM places he should look, or other contacts you have and would be willing to give. If you yourself have leads/openings those would be greatly appreciated. If you are wary of leaking personal info(personal leads/business opening you have) to me please DM @Matthias and he will confirm that I am trustworthy.

2018-02-22 23:08:10 UTC

@everyone ^

2018-02-23 00:30:45 UTC

@Bobby - Pa#5314 with a GPA like that in those majors and at a school like Pitt I find it hard that he would have trouble landing something. Is he a bad interviewer?

2018-02-23 00:54:47 UTC
2018-02-23 00:56:57 UTC

@Zyzz thats the thing I am finding so odd...the area has so many jobs related to the industry and apparently he has sent out a massive amount of apps, idk whats going wrong

2018-02-23 01:19:56 UTC

He's a fucking white male. They are probably only looking for diversity hires. It kinda sucks but it would be a good time to drop some red pills.

2018-02-23 01:34:42 UTC

@Bobby - Pa when did he graduate? Big companies go through hiring rounds for entry level employees close to graduation dates.

2018-02-23 01:35:28 UTC

Also what is he using to apply? Some people I know get sucked into Indeed but I found it pretty poor on both sides

2018-02-23 01:58:00 UTC

@ThisIsChris he didn't graduate yet, I told him that, and mainly the pitt database, I don't know what other options he has used, will make sure to ask. He graduates this semester

2018-02-23 02:15:39 UTC

He should go to some firms and apply directly. School job boards are a real mixed bag of results. I posted a job to one a few years ago and I never took it down. I still get emails with people applying that I just don't look at. They should notice the ad is 2 years old but maybe that information isn't made very clear on the website.

2018-02-23 02:15:50 UTC
2018-02-23 02:16:32 UTC

Once he gets his foot in the door and gets a few years experience it should be much easier to get a new job somewhere else if he wants

2018-02-23 02:20:57 UTC

@ThisIsChris thanks I will tell him to use that strategy, I really appreciate all the advice

2018-02-23 02:22:47 UTC

thank you to those who responded so quickly and messaged me with advice on this thread or privately, I really appreciate it

2018-02-23 02:41:48 UTC

a lot of companies hire on an as needed basis too. i graduated without a job offer

2018-02-23 02:44:20 UTC

Great organization to join for financial networking. Best events are the annual meeting and holiday party. Highly recommend.

http://philasecurities.com

2018-02-24 03:36:39 UTC

I’m an MBA grad who landed my dream job recently.
* First, start earlier. Many top jobs are interviewed and tied up more than one semester before graduation. Too late for him now, but make your friends and family aware to avoid this mistake in the future.
* Networking is critical, referrals are what get jobs
* Have a professional review the resume
* Practice interviewing with a professional. Pay for it, it’s worth it. Learn how to interpret what the typical interview questions are *really* asking, none of them are to be taken at face value
* Buy a decent suit in gray or navy, get it tailored to fit
* Figure out what you want to do, identify target industries, target positions, target companies
* Research said targets
* Develop a sales pitch on why you will add the most value for your target employer, explain how you’re passionate about the subject, and turn it up a notch to “wow” them. Upsell your experience and skills
* Find national career fairs relevant to your targets, travel to that fair (often out of state), and get in front of recruiters. Observe their body language and response to your pitch. Learn from their feedback.

2018-02-24 03:41:21 UTC
2018-02-24 03:43:13 UTC

@Der Seeteufel - SD I got my job by going to a career fair for Hispanics.

2018-02-24 03:44:26 UTC

They asked what my relationship was to the organization hosting the conference and I told them I’m here because it’s a national conference in my field (engineering) with all of my target employers present, what a great opportunity. I didn’t say anything about Hispanics.

2018-02-24 12:18:26 UTC

@Tanner - SC that’s ballsy

2018-02-26 06:45:57 UTC

Anyone collect meme metals?

2018-02-26 14:24:25 UTC

🤔

2018-02-26 20:43:26 UTC

What are meme metals?

2018-02-26 20:45:43 UTC

It's a joke, people on the chans talked a lot of crap about gold and silver holders claiming they were a meme

2018-02-26 20:46:27 UTC

In that case, yes, I do have a nice stack of bullion.

2018-02-26 20:47:03 UTC

Yeah, I'm preparing for high demand in the future. I'm coinciding that with a plan for a large family.

2018-02-26 20:53:56 UTC

Indeed, I'm holding physical long-term. Big fan of Maple Leafs and PAMP Suisse.

2018-02-26 20:58:43 UTC

You think we'll see a big upside soon or will it be a decade plus?

2018-02-26 21:03:12 UTC

Is there any compelling reason why they would go up soon?

2018-02-26 21:04:11 UTC

@Jacob I don't see one for a few months, so I keep buying

2018-02-26 21:04:25 UTC

War requires a lot of silver

2018-02-26 21:05:50 UTC

I'm seeing ARM loans being peddled again. Stocks are laughably high. The flight into metals will probably occur when the cascade happens again.

2018-02-26 21:06:44 UTC

Ever hear Doug Casey talk about the hurricane analogy?

2018-02-26 21:07:05 UTC

Nope

2018-02-26 21:14:28 UTC

A hurricane has an entry wall, an eye, & an exit wall. Consider 2008 (Bear Stearns/Lehman Brothers) as the entry wall. We then moved into the eye--it's bright and sunny, yet we still have to come out of the hurricane. The exit wall will be far more violent and catastrophic. He suggests this will dwarf the Great Depression.

2018-02-26 21:21:17 UTC

@Argument of Perigee Yeah, Doug Casey is pretty cool. Got me into further research about markets in general.

2018-02-26 22:50:57 UTC

@Argument of Perigee I've been house hunting since I left work today. Thank you. That makes me feel really good about my future

2018-02-27 00:13:25 UTC

Interest rates are so low, get a fixed mortgage, and have capital saved to anticipate danger, or don't buy. I've considered a house also, but I'm not ready just yet.

2018-02-27 00:16:55 UTC

Interest rates are low, but does that offset the insanely high cost if a house? I'm willing to eat the higher cost just because I hate paying rent

2018-02-27 00:20:31 UTC

In my unprofessional opinion, I would wait for the crash, but paying rent is shitty. If you rent your house for most of the payment, that would be cool.

2018-02-27 00:21:20 UTC

@Freiheit - CA yes i plan to wait until a crash happens before i buy a house. i also don't need a house right now

2018-02-27 00:29:54 UTC

I remember in 2006-2008, I was a college student thinking about the future, and I remember laying in bed several times thinking "how tf is anyone supposed to get a house for the first time, it looks like you have to buy as soon as possible so you can try to latch onto whatever house you can possibly afford at the time to try to ride the wave up" Well, I learned that if prices seem absolutely bozongo then there may be a problem with the prices.

I say this because I have the same gut feelings nowadays. We'll be having kids soon so I've been looking around at housing and even with both me and wife working full time the housing prices just seem insane or not worth it. I work in New York City and I'm struggling to find a house within 3 hours of where that is a nice safe neighborhood with good schools and a family sized house under 600k. I'm likely just going to rent for a while waiting for another housing crash, or I'm going to find a studio apartment and put wall dividers and live like those huge families did during the industrial revolution

2018-02-27 00:32:31 UTC

@ThisIsChris thats why i got the fuck out of NYC

2018-02-27 00:33:09 UTC

Where do ya'll buy silver and gold?

2018-02-27 00:34:22 UTC

@Zyzz I think about that all the time. Maybe one day but all my roots are here. Family, long time friends, business networks...

2018-02-27 00:34:48 UTC

So for the time being I'm just trying to see if I can make it here, really hoping for that housing crash

2018-02-27 00:34:57 UTC

@ThisIsChris that sounds Trad AF. Do that

2018-02-27 00:35:03 UTC

@ThisIsChris Go with the wall dividers, fam. It's very similar to how our ancestors lived in log cabins/hovels/huts for hundreds, if not thousands, of years.

2018-02-27 00:35:03 UTC

@Deleted User like bullion? I use JMBullion.com

2018-02-27 00:35:40 UTC

@ThisIsChris i moved down to FL and knew not a soul. i understand the apprehension but then again so did our ancestors when they left europe.

2018-02-27 00:36:43 UTC

@John O - @Deleted User yeah everytime I go back to that idea I'm like "ya know wall dividers aren't such a bad idea..." I just have to give up on my dream of having a home squat rack/bench press/deadlift platform

2018-02-27 00:37:27 UTC

Fuck personal time. People didn't have time to themselves during the Industrial Revolution

2018-02-27 00:38:26 UTC

@Zyzz Florida sounds great man, especially when thinking about the weather. I'm glad you have made it work.

2018-02-27 00:39:04 UTC

tfw no cramped house full of kids and waifu

2018-02-27 00:39:47 UTC

I'm going to get a 3 story house for me, my parents, my 3 siblings, and all our kids

2018-02-27 00:40:34 UTC

@John O - that's so awesome.

2018-02-27 00:40:58 UTC

Kek, not really dude

2018-02-27 00:41:14 UTC

That would be hellish

2018-02-27 00:43:41 UTC

Maybe not the literal 3 story houses, but I have looked into those two-family homes before

2018-02-27 00:44:01 UTC

I would like to have my dad right next door

2018-02-27 00:44:18 UTC

thatd be sweet

2018-02-27 00:44:33 UTC

i was very close to my grandparents growing up.. they were a 10 min drive away

2018-02-27 00:45:57 UTC

Yeah having multi-family homes with family is a pretty great idea if you're close

2018-02-27 00:46:10 UTC

When my grandma grew up in the Bronx, her family all lived in the same building. Same with my other Grandma in Boston, and my Grandpa in Brooklyn

2018-02-27 00:46:24 UTC

Err, not quite my grandpa

2018-02-27 00:47:12 UTC

Ha yeah only kicker is my dad loves his house too much to move

2018-02-27 01:21:00 UTC

Have you tried looking in ossining or peekskill? my buddies sister just bought a house up there for around 500k. Very nice home fit for a family. @ThisIsChris

2018-02-27 01:21:53 UTC

The metro north has its last stop in croton on hudson right between the two so the ride into the city is not terrible.

2018-02-27 01:24:08 UTC

Yeah that area is super nice. I will have to think about it, thanks for the recc @Louis Loire - NY

2018-02-27 01:24:31 UTC

500k not bad for a house in a place that nice

2018-02-27 01:25:19 UTC

I have to admit I haven't looked North of NYC yet, will have to do my research. I'm usually poking east since my family is that way

2018-02-27 01:32:32 UTC

Westchester is super expensive in spots but quite reasonable in others

2018-02-27 01:32:53 UTC

much cheaper then the city though

2018-02-27 01:34:40 UTC

Ossining, Peekskill, Tarry Town, Hastings, Dobbs Ferry, upper Yonkers, Croton all of these are decent little river towns.

2018-02-27 01:35:13 UTC

All of them are also on the Metro North line so getting to the city is again not terrible

2018-02-27 03:09:18 UTC

@Deleted User APMEX, Provident Metals, or Gainesville Coins are my go-to online bullion dealers, with Provident being my #1

2018-02-27 03:11:10 UTC

@Deleted User Sorry, was AFK. Buy at the local coin shop and become friends. You will never pay spot, usually spot plus the shop premium, ~3%, but building he rapport is better than buying online, some states charge tax for buying gold and silver, there are transactions that may not apply to &c. and they will inform you after due time.

2018-02-27 03:12:05 UTC

@John O -#7072 Sorry for the doom & gloom, my dude. Acknowledging and understanding the warning signs can be a powerful tool in itself though. I'm right along with you in the house-hunting boat--working with a realtor in Colorado right now...

2018-02-27 05:13:23 UTC

Economists Urged to Use Fertility to Predict Recessions: https://archive.is/bo5i4

2018-02-27 05:45:52 UTC

lol, they should have done that a generation ago when they had the ability to warn of demographic decline.

2018-02-27 14:33:11 UTC

@Argument of Perigee Yeah, I know it's dumb to buy my first house rn, and I'm not going to. I'm just worried about being ruined if there is another depression

2018-02-27 16:03:14 UTC

@John O -#7072 fwiw, if I could afford a house that I wanted to live in for 20+ years, then I would just buy it now.

2018-02-27 16:24:34 UTC

^ For long-term, buying now is probably always better.

2018-02-27 17:01:28 UTC

Here's what I'm worried about. I want to buy a house, and I have enough saved where I can buy something decent and put down 1/3 of the cost and still have savings rn. My biggest apprehension is, if the economy absolutely shits itself, will I be able to keep working? I do construction, so I'm not very insulated from the whims of the market. Plus, I'm only 23. My credit score is something like 650, but I'm not sure if my age is detrimental to my loan prospects

2018-02-27 17:12:18 UTC

I've got other things to do with my money, though. I just hope I don't become destitute if the bottom drops out from the economy like @Argument of Perigee was saying

2018-02-27 18:35:17 UTC

@John O - to judge that a measurement that's commonly used is what % of your income would be used to pay the mortgage. There's varying %s I've read that are good: 28% is a number I hear pushed a lot as "good". Sometimes 33% is considered OK. What number is right for you is usually based on what your income is and how stable it is. If you pull a million a year then even 50-60% is fine since you'll have so much left over. If you pull in 50k then you probably don't want to top 30%. Just to give a rough idea.

2018-02-27 19:03:08 UTC

Hey guys, I'm tired of renting and am trying to buy a house soon.
I still need to go through all the bank stuff first, but does anyone in here have any advice? maybe things to avoid or watch out for? anything that might make this process easier?

2018-02-28 00:52:47 UTC

There is a first time homebuyer tax credit.

2018-02-28 00:53:10 UTC

If a veteran, ask USAA questions.

2018-02-28 00:55:22 UTC

@Goose i am happy to help but could you perhaps be a little bit more specific. Is there anything you are worried about in particular?

2018-02-28 00:57:13 UTC

obviously look up the demos of your area and see how good the schools are. issues with the property should be disclosed to you prior to you buying it. lenders usually require an appraisal and an inspection so i wouldnt be too worried about getting sold a shitty house

2018-02-28 01:05:24 UTC

@Zyzz nothing construction-wise (I'm familiar with that end) right now deciding on which company to get a credit card with

2018-02-28 01:06:05 UTC

@Freiheit - CA thanks. You think i should go with USAA to get a credit card?

2018-02-28 01:49:33 UTC

I've heard good things but, USAA I'm told for home loans is good for veterans insurance etc. No personal experience.

2018-02-28 02:58:23 UTC

First time home buyer credit is something like $7k IRS deduction.

2018-02-28 02:58:32 UTC
2018-02-28 03:39:34 UTC

Sadly, the tax credit is no longer available.

2018-02-28 03:41:39 UTC

Wtf

2018-02-28 03:43:07 UTC

That was really only a 2007 thing.

2018-02-28 03:44:12 UTC

There should be a state one. I think.

2018-02-28 03:44:34 UTC

Definitely worth checking into based on locale.

2018-02-28 03:46:43 UTC

If we're talking military/veteran stuff, I can speak about alot of that. I have accounts with USAA, Navy Federal Credit Union, & Pentagon Federal Credit Union. For credit cards, it all depends on how deep into the credit card game you want to go with perks and how disciplined you intend to be with it. It can get really interesting if you can qualify for an American Express Platinum Card as active military, because they waive the $550 annual fee--it is a charge card though, not a credit card.

2018-02-28 03:54:02 UTC

Charge vs credit...explain @Argument of Perigee

2018-02-28 03:57:28 UTC

Credit cards have a revolving balance if not paid and you assume a finance fee (interest) to your balance if not paid in full each month. A charge card MUST be paid in full each month, no exceptions.

2018-02-28 03:57:57 UTC

Cool

2018-02-28 03:59:06 UTC

What's the charge limit? Does a charge card affect credit score?

2018-02-28 04:04:44 UTC

Yup, same general principles apply. The spending limit will be based upon credit worthiness/trust with issuer--could be a few thousand, tens of thousands, hundreds of thousands, no limit. The almost-mythical American Express Centurion (Black) card is said to have no spending limit whatsoever.

2018-02-28 04:06:43 UTC

I'm just trying to get a credit card for basic expenses so I can establish a good credit score so I can qualify to buy a house

2018-02-28 04:07:04 UTC

Not using it for large purchases otherwise

2018-02-28 04:19:19 UTC

@Argument of Perigee I've seen a black Centurion...sold a guy some stage lighting.

2018-02-28 04:19:34 UTC

Solid titanium, yea?

2018-02-28 04:19:37 UTC

I stay in contact with him from time to time...

2018-02-28 04:19:54 UTC

It's heavier than titanium from my experience.

2018-02-28 04:20:06 UTC

...I work with Ti parts a lot at work.

2018-02-28 04:20:25 UTC

I could be wrong, but it had weight.

2018-02-28 04:20:45 UTC

Centurion sightings are pretty neat.

2018-02-28 04:21:21 UTC

@Goose Are you military/vet? Just want to clarify that upfront.

2018-02-28 04:34:00 UTC

I saw a black card twice. Both times were at a bowling alley I worked at. I don't think they were Ti at all.

2018-02-28 04:35:56 UTC
2018-02-28 04:37:10 UTC

"Amex is tight-lipped on the terms and conditions surrounding its ultra-exclusive Centurion card, reserved for high net worth consumers, but it is widely known that the card is made of anodized titanium."

2018-02-28 04:43:49 UTC

Yea, unless something changed in the past handful of years, the card is very different from any other charge/credit card you've handled.

2018-02-28 04:48:58 UTC

@Goose This might help, but try to stay away from those banks that are particularly of the 👃 people or benefited from opioids like HSBC: https://www.creditcards.com/top-credit-cards.php

2018-02-28 04:49:27 UTC

Your local credit union might just be the best place for a basic starter card.

2018-02-28 04:55:07 UTC

☝️

2018-02-28 04:55:47 UTC

can someone explain the pros and cons of a major credit co vs a credit union?
plz no bully

2018-02-28 05:19:46 UTC

No worries. Regardless of which financial institution issues the card, you'll almost certainly be applying for a Visa or Mastercard (maybe American Express.) Then it really boils down to terms (interest rates, limits, fees) and perks (rewards, points, cashback). Some credit unions and even smaller banks will have their name on the credit card, but it will actually be issued by a different finanical institution, so keep that in mind when looking around. For example, I have some accounts with a regional credit union in a previous state in which I've resided. In looking at their credit card options, I see in the fine print "The creditor and issuer of these Cards is Elan Financial Services, pursuant to separate licenses from Visa U.S.A. Inc., MasterCard International Incorporated, and American Express."

2018-02-28 05:35:03 UTC

But how do they affect me differently as the card holder? @Argument of Perigee

2018-02-28 05:37:02 UTC

The credit company vs the credit union I mean

2018-02-28 05:39:38 UTC

@Goose Can you pop into the voicechat real quick?

2018-02-28 05:42:37 UTC

sure

2018-03-02 18:53:47 UTC

@everyone Hello. I have a tentative summer internship opportunity in the financial field. Looking for a college student. No experience required. DM if interested. (Pennsylvania)

2018-03-03 00:44:13 UTC

I'm not a candidate but I just wanted to say that is awesome and hope one of our guys takes it.

2018-03-05 15:57:18 UTC

Hey! Quick question. Does anyone have their CFP certificate? Looking for advice.

2018-03-05 19:43:20 UTC

<@&322715617138311171> <@&387091385075105804> ^^^

2018-03-07 03:12:33 UTC

Reminder everyone to save while the economy is good. We **will** have another recession, don’t get caught without a rainy day fund (preferably a rainy “month” or rainy “year” fund). Don’t over-spend during the good times.

2018-03-07 06:00:04 UTC

Agreed. I would recommend, in case of severe weather, have many small bills to make exact change at grocer. Where I live the weather knocked out power to half the city for a day, no one could use the ATM, and the grocery stores ran short on change. Some stores couldn't take cards so some families ate whatever they had in their pantry...most shit tier Americans have ramen or worse, nothing in their pantry @everyone.

2018-03-07 06:02:29 UTC

This was last year.

2018-03-09 01:13:49 UTC

Midwest Steel Futures for April delivery

https://cdn.discordapp.com/attachments/352760194775777282/421475665951588378/Screen_Shot_2018-03-08_at_7.46.55_PM.png

2018-03-09 01:14:05 UTC

trump danke

2018-03-10 14:11:08 UTC

Thinking of buying long deep out of the money puts on twtr

2018-03-10 14:11:44 UTC

Like jan 2019, strike $10-15

2018-03-10 14:12:17 UTC

Trump will destroy twitter

2018-03-10 18:10:44 UTC

@greenpond here's the chain

https://cdn.discordapp.com/attachments/352760194775777282/422093969854300160/Screenshot_20180310-130949.png

2018-03-10 18:11:56 UTC

They do look extremely cheap, so as long as you're willing to completely lose that money (fairly likely) for a possibly of a MASSIVE payoff, then I agree with you to go for it @greenpond

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