I just looked and YTD I've deposit $66k into my brokerage account and I've managed to lose 29% More like a BROKEerage account, mirite?
This is my first year of maxing my and my wife's Roth and my 401k and I'm still down considerably from December of 2021.
Requested my 401K check get reissued yesterday morning. Glad I could help the market a little bit! John Hancock is pissing me off, multiple people I talked to said the check looked fine and they’re not sure why it didn’t go through. If it doesn’t go through again, I’m just going to open up a rollover IRA on my own and tell ‘em to frick off.
Alliance Bernstein handles my 401k as of two years ago. They use Empower and it's great. We rolled everything over from John Hancock and I couldn't be happier.
When are stocks and bonds no longer going to go down the same? It is supposed to be a hedge what gives
That's just because I'm not straight S&P. Have ~20% international and some mid cap and small cap. And have been buying through the year so in some low spots.
First question… My students are in a stock market competition that has been going on for one month. The top 25 teams in the country (Out of about 1000 teams.) get a trip to Orlando. (We currently have three teams in the top 25 but might have five when cheaters get disqualified.) As you can expect, you only need to be up about 2% in order to be in the top 25. What would you recommend if you were only interested in investments between now and December 9?
Does anyone have an app that they like better than Vanguard? Because I have a level three margin account, trades on the app are not supported. They have no plans on fixing this because apparently I’m the only person in the world who uses vanguard and wants to cover shorts on my phone.
Earnings definitely holding up to start. Tech will be interesting though. Easy to see why the banks aren’t hurting.
That’s more of an assumption than anything else (traditionally there are 10-20 or so removed every year and five have been caught so far.) Basically, the game processes all trades at 4PM EDT and updated the rankings daily. You can put in a trade in the morning (or any time before 4) and, if the position loses money, cancel the trade at 3:45. You would keep/sell it if it made money. Right now the two top teams have made over 200% gains. Gains like that almost always get DQed before the game is over.
Ally Your Online Savings Account rate is increasing from 2.25% to 2.35% Annual Percentage Yield (APY) on all balance tiers. Your new APY goes into effect on 10/20/2022, and will appear in your account on 10/21/2022.
I want to short DoorDash. They are straight up price gouging. There can’t be that many people who are both lazy and have that much disposable income.
Had the opportunity to be the 9th employee, buddy tried to get me to follow him there, told him it was a dumb idea because Grubhub and Seamless already existed. Wanted to kms during their IPO
all of the contract driver/delivery apps are on a downward trajectory uber eats only keeps me in because they routinely offer absurd deals
japan didn't allow uber for years and years and basically just uses its app to plug existing taxi infrastructure into a phone based service in lieu of call and dispatched taxis this is probably the future and it's a future where uber itself isn't THAT valuable
In what way are they price gouging? Most of the delivery apps have an up charge on menu items built in by the restaurant to cover their own fees. Also, long dated puts.
There is at least one compelling article from a year or two ago about how the business model is flat out unsustainable. Forget being able to afford it on a regular basis, it’s downright offensive how expensive it is. And yet, if I remember correctly you paying 25-30 per person for a 10-15 dollar meal is still a money losing proposition for the delivery service and at the time was money losing for the restaurant itself. The math suggested that somehow you needed to pay 50 bucks (or close to that) for the economics to be self sustaining. It’s ludicrous. Like most tech ventures, the model was to absorb losses via raising money in order to outlast competitors who couldn’t lose as much as you, consolidate the consumer base, and at the end there would be one or two winners and many losers. Not sure how that has worked out. With that said, I think more people use it and stomach the cost more often than you’d think.
I was just telling my wife we need to stop wasting money on door dash, as I sat down to eat my dinner that I had just door dashed
He was the 8th employee, and just had his wedding in Bali - rented out the entire resort ($1k night type place) and comped everyone’s room for two nights. Guessing he was somewhere in the $30M - $75M range, they IPO’ed at $72 billion. So ya My buddy he says to me “Hey man don’t worry about it, everyone in SF passes on a unicorn, it’s a rite of passage.” Small consolation
The founder, Tony Xu, has a reputation even in the Valley of being an exceptional genius type. That’s really all I know about them. Most of the early investors are predicting Uber is going to start printing here shortly, Jason Calacanis exceedingly confident in a recent Odd Lots episode so maybe something we don’t know idk
I think it’s wild they charge the restaurants who in turn up charge the customer. That’s a business killer on principle imo. I won’t pay more just bc DD wants a bigger cut and can’t justify passing more costs into the consumer. If you aren’t profitable without taking a cut from restaurants you’re probably an unsustainable business. Does Uber and Lyft charge Ford Motor Co or Toyota a fee for creating an “increased demand” for cars used in ride sharing services? It’s absurd.
I don’t necessarily disagree with the overall thesis but the multiple of demand they can create for a restaurant can be like 3x - 5x vs Ford not anywhere close to that with Uber
It really seems like that’s the end goal/magic number… I don’t think I’ve had an order just for me, one person, less than $30 anywhere. Pizza Hut, Jersey Mikes, Taco Bell.
Co-founder Stanley Tang played on high stakes poker and let’s just say I’m not surprised he has a healthy disregard for money. Total whale.
Delivery is expensive and generally sucks. Just go pick it up shrug Yeah let’s short DD, never even used it
My girlfriend does DD/Uber Eats full time. She probably makes $50k gross a year (if that) but I can’t get over the fact she put up 75k miles on a car since she bought the car during the pandemic in 2020. Replacing that car when the time comes is going to be a massive bill she’s not planning for. Plus increased insurance cost, gas, upkeep on a car. My ultimate point is that somethings got to give somewhere in this system if customers are complaining about price, Uber/ DD is losing money, restaurants are getting profits eaten into, and workers are going to realize quick their gross pay isn’t what they think it is. Jim Chanos has been ringing this bell for years waiting out that short.
What’s her take on tips? Consistent? I see on tik tok and Reddit a lot of drivers flat out saying it’s unsustainable if they hit a string of bad/no tippers. DD pushing them to multiple orders at once, threatening their jobs if they refuse too much.