invest in stocks

don’t go to art school. pirate some drawing programs. buy a cheap tablet off of craigslist. take furry porn commissions. draw some wolf cocks. start a patreon. make ten thousand dollars a month. retire at the age of 25. buy an island with your dog dick money. invest in indie games. buy stock in mojang. fly to sweden and hang out with notch. become notch’s friend. have him buy you things because he’s desperate to have friends and doesn’t want to lose you. open notch’s mind. shape him in to a good person. get married to notch. give notch the spark to create a new game. become the artist for notch’s new game. it’s a furry hentai game. start a kickstarter and make another ten thousand dollars. run off with the money. buy another island. draw more dog dicks. get out there. live. 

“After twenty years of marriage, I caught my husband cheating and had to leave him. But honestly, I wish I’d gotten my divorce much sooner. For so long I’d been denying my right to be an individual. The family had become so much more important than my dreams. I had small joys back then: getting a brand new car, having our 20th anniversary, when my son got into college. But now the intensity is so much greater. I’m doing all the things I love to do. I studied nutrition and got a job at the hospital. I buy whatever I want. I watch cartoons. I never miss a Shrek movie. I go to the orchestra at least once a month. And right now I’m coming back from a class on finance. I’m going to invest in the stock market and get a house by the beach.”

(São Paulo, Brazil)

2

An Amazon engineer gave random people on Twitch $50K to invest — and this is what happened

  • A long-standing rule for preserving one’s sanity on the internet is to never, ever read the comments section.
  • Amazon engineer Mike Roberts had a different idea: What if he let the comments section pick his investment portfolio?
  • After six months of tinkering, he has now released his invention: Stock Stream, which Roberts is billing as “the world’s first multiplayer stock market game that uses real money.”
  • As of last week, anyone with an account on the game-streaming site Twitch could log-in and help allocate $50,000 of Roberts’ money by typing stock symbols into the Stock Stream’s comment section.
  • Roberts says he got the idea from watching Twitch users collaborate on games like Pokemon.
  • As more and more Twitch-ers started using the platform to crowdsource ideas, Roberts got the idea to see how that crowdsourcing might be used for more practical activities, like choosing what stocks to invest in. Read more (6/5/17)
follow @the-future-now

04.17.17 Net Worth: -$38,203

I bought my first stock today.

I bought 25 shares of Rexahn Pharmaceuticals Inc (RNN) at $.407 a share.

I bought 5 shares of Apricus Biosciences Inc (APRI) at $1.54 a share.

I know it’s small, but it’s my start and I’m not much of a gambler… yet. I intend on buying and selling often for a profit until I feel confident enough to invest in bigger stocks with high yield dividends.

First day jitters.

let's talk beautiful lyrics by yoongi

“amidst double standards and opposition everywhere I crushed the limits within myself” (we are bulletproof pt. 2)

“my hobby is proving you wrong” (we on)

“if i ruled the world why would i dream small, of gambling and investing in stocks? i would still be making music with my bangtan fam” (if i ruled the world)

“same day, same moon” (tomorrow)

“the studio is my playground, and the pen and paper are my partners” (triptych)

“a sweet wind named you is blowing in my heart” (miss right)

“others are running forward, yet why am i still here?” (intro: hyyh)

“take a breath, or breathe a dream” (intro: hyyh)

“this moment will never come again, it will never find me again, so i ask myself am i happy? yes, the answer is already there, i am happy.” (intro: hyyh)

“before the day of my birth inside of my mother’s womb, i counted the days till my first move. the cost of the move was a machine on her heart and a scar.” (move….. /fuh my heart)

“on the stage i desired so much, when i sing and dance, i feel that i am yet alive. i can withstand a long commute and the aching of my body because my people are watching me. i endure the exhaustion because the cheers come rolling in.” (born singer)

“i don’t give a shit, i don’t give a fuck” (intro: nvm)

“i have become the pride of my family, and have even succeeded to an extent.” (intro: nvm)

“though i taste failure and disappointment and bow my head, we’re still young and immature don’t even sweat it” (intro: nvm)

“if you can’t go back, run forward…
if you feel you’ll crash, accelerate all the more” (intro: nvm)

“you’re a butterfly effect, shining in pitch darkness. with your light touches i forget reality altogether” (butterfly)

“the words so carelessly thrown at me: even my loneliness looks like pretend to you.” (whalien 52)

“have i engraved my existence into you like rain? or have i come and gone like short showers?” (rain)

“the saying must be true that love blooms like cherry blossoms and then burns to ashes” (let me know)

“hip hop found me like a young child finds his mother” (hip hop lover)

“everyone asks me, what is hip hop, and i say proudly that it is my everything. as a result i have buried my entire existence under music. if loving this culture is a sin i’ll die a hundred times
over.” (hip hop lover)

“dream. hope. forward. forward” (epilogue: young forever)

10 Reasons Why I Think I Made My Worst Investments Ever

I’ve been thinking about my investment style and how it’s changed over the years.

My first few years were pretty rough. I dove right in. I put some money in a brokerage account and just started. I was buying and selling with really no real idea. It was pretty reckless. But everyone starts somewhere.

The other day I started my taxes. That had me looking back at some old trades. Some of them are just awful. But hilarious. I had to include two examples in this post (see them below). I hope by writing this all down I’ll avoid making these mistakes in the future:

1. The P/E ratio is the absolute worst metric ever. It needs to be burned off the front page of every finance website. It is a backward looking metric. The stock market is forward looking. WTF. Avoid this. If a company has a really low P/E ratio, it generally has one for a reason.

2. Stay away from any and all foreign exchange risk. If you buy stock in an ADR or a company based in a country outside the US, and that country’s currency takes a hit, your portfolio is going to feel it. Managing investments is hard enough, you should not have to also worry about currency fluctuations.

3. Picking bottoms and calling tops is Russian roulette. A stock that’s down 50% from its highs can still drop another 50% from there. A stock that’s up 100% over a year can still climb another 100% in the next year.

Here’s one trade where I tried to be the man and short NVIDIA after a massive run

And here’s another. Yes, I actually said this. I thought the tech trade was over

4. Know where you’re going to get out before you make the investment. This makes life much easier. Before you buy a stock, know why and when you’re going to cut it out of your life if it goes against you. Don’t get trapped. Don’t waste time.

5. You need to be a master at avoiding FOMO (fear of missing out). There’s nothing worse than watching a stock spike, and so you buy it. You don’t want to miss out. You just need to join in. F that. Don’t do it. Chasing a stock rarely ever works.

6. Never buy a stock because of buyout rumors or because you think it will get acquired. You want to own strong companies not rumors or theories.

7. Always know your shareholder yield. Does the company pay dividends or have a history of buying back stock? That’s money being returned to you. If there’s no shareholder yield (dividends or buybacks), you’re basically left with a bet on growth. Know the difference. It will change your timeframe and expectations for any single investment.

8. You can’t ignore the overall market. In bear markets, they say all correlations go to 1. It’s hard to find quality stocks in bear markets. Everyone makes money in bull markets so don’t let it get to your head.

9. Study the tax code. It will immediately change the way you invest or trade. Trading can be a lot of fun. But at tax time it sucks. It’s a lot of work and even more taxes. You can save up to 20% on capital gains taxes when you hold a stock for more than a year.

10. The Internet is your best friend in the world of financial markets. But you have to double check everything. There’s so much free research available. There are also so many smart people writing and sharing ideas each day. But you still need to double check it all. If you like a trading or investing idea from someone online, make sure you corroborate the data yourself.

A Few Things I Learned Watching a Hedge Fund Manager Lose $4 Billion on One Trade

Maybe you also followed this story. Or maybe not. But basically a really big hedge fund manager, one of those guys who people quote and probably talk about at Harvard Business School, placed a super big bet on this company called Valeant.

Valeant is a pharmaceutical company trying to cure problems with skin and infectious diseases. They actually also own Bausch Lomb so that means they have a giant eye care business.

This hedge fund manager made a bet that Valeant would keep growing their business, diversifying, and acquiring. He once even called them the next “Berkshire Hathaway.”

This thesis turned out to be wrong. Like really wrong. The company crashed. People started to call Valeant out for jacking up the prices of their drugs. They also were apparently doing some dicey bookkeeping things. Just Google “Philidor Valeant scandal” if you want to learn more about that.

The end result looked like this:

So what did I learn from this story? Are there any interesting takeaways for you? I think so. And by writing this I hope I won’t make the same mistakes. Maybe now you won’t either. Here are a few things I learned from witnessing one of the worst trades ever:

  • Risk management is everything. No single investment or trade should ever be able to wipe you out. You want to play this game forever. In 2015, this hedge fund manager had $12 billion in assets under management. He poured $4 billion into Valeant. So he essentially risked a third of his clients money on a single outcome.
  • Don’t ever average down! This hedge fund manager did not cut his losses when the stock started to crash. Instead he averaged down. He bought more. Then he played the options market. Just cut your losses if it’s not working anymore. Get out. Paul Tudor Jones said this best:
  • Humility is everything. If you are going to make a trade like this, at least do it quietly. Don’t go on CNBC and tout it. Or promote it. When everyone knows about it on the way up, they’re also going to know about it on the way down. It might make things even worse. The media and people will turn on you for entertainment, clicks, and laughs.
  • Social media is your friend. There are some seriously smart people on social media. The Valeant ($VRX) stream on StockTwits is filled with conversations, charts, and debates at all times. Don’t ignore that. Or even the bloggers. A few investment writers totally nailed it. They’ve been writing about Valeant and its problems for years. To this day it’s free and open on their blogs.
  • It happens to everyone and it will happen to you. No one makes great investments 100% of the time. Everyone gets hit here and there. Even Warren Buffett admits to this. He wrote about it in his latest letter to shareholders. Like that one time:

“I made one particularly egregious error, acquiring Dexter Shoe for $434 million in 1993. Dexter’s value promptly went to zero. The story gets worse: I used stock for the purchase, giving the sellers 25,203 shares of Berkshire that at yearend 2016 were worth more than $6 billion.” — Warren Buffett

  • Narratives are fun, but you also need to see the data yourself. What’s really amazing is how this hedge fund manager lost a ton of money. His brand and skill is being questioned and criticized around the globe. But someone recently showed me something interesting. The following chart shows the price of Warren Buffett’s Berkshire Hathaway vs. this hedge fund manager’s company Pershing Square. Yes, by this metric he’s outperforming Buffett! As a spectator, it’s fun to get into big story lines and narratives. But always make sure you corroborate the data:
The Signs In Every Relationship.

When Pisces and Pisces get together they are bound to drive each other into a rehab and/or an insane asylum. Both will eventually experience liver failure as a result of alcohol addiction.

Aquarius and Pisces together is unsuccessful. Aquarius gets outraged when Pisces mistakes an experimental liquid for scotch. Pisces becomes an amoeba. Aquarius hides the evidence.

Aquarius and Aquarius will both become nostalgic together remembering their young days on planet Floorp, where their brilliant ideas were shared and individuality was appreciated. True Love.

Capricorn has no patience for Pisces who repeatedly tries to spend the couple’s fortune on their own drug problem. Capricorn eventually tries to profit off Pisces’s drug supply. It doesn’t work.

Capricorn and Aquarius is a give and take relationship. Cap will use the experiments Aqua is conducting to make a fortune. Aquarius is paid off in stylish jackets!

Capricorn and Capricorn is not a trusting partnership. They both hide money and Twinkies from each other. They only talk about the weather and golf.

Not surprisingly, Sagittarius loves drinking just as much as Pisces! But Sag has no time for Pisces sob stories. The two typically meet at a bar, prison, or brothel.

Sagittarius and Aquarius are the PERFECT couple. Sag has no attention span and Aquarius doesn’t care. Both will eventually forget they are dating.

Sagittarius and Capricorn never ends pretty. Sagittarius manages to break all of Cap’s fine china while roller skating in the foyer. Needless to say, Sag is executed immediately.

Sagittarius and Sagittarius makes the clumsiest and most reckless zodiac pair ever to be known to man. Together they will burn down their cardboard house doing lighter-fart tricks.

Scorpio loves to easily manipulate and easily control someone. Scorpio also loves cool ranch Doritos but they’ll never tell you. Pisces is no fool though. Pisces knows all and Pisces sees all; Pisces just doesn’t care.

Scorpio will never understand Aquarius and Aquarius will never understand humans. After two failed attempts to bug the lab Scorpio gives up all together.

Scorpio and Capricorn are like two mob men that accidentally fell in love. They are both controlling evil freaks. Not nice neighbors.

Scorpio has a hard time keeping track of Sagittarius. That is ONLY because every time it rains Sag has to find a new box to live in. Talk about impossible.

Scorpio and Scorpio are the real life Mr. and Mrs. Smith. Both are the devil and both have fun slitting each others throats.

Libra supports Pisces’s drinking habits and doesn’t care if their breath smells like Georgie. Neither own a toothbrush or socks.

Libra and Aquarius are equally weird and equally dirty. Libra lets Aquarius stick test tubes and thermometers up their butt. Quite the happy couple.

Libra is typically a serf in Capricorn’s kingdom. Capricorn likes Libra because Libra doesn’t know what money is. Everyone goes home happy!

Libra loves Sagittarius’s spacious apartment which actually happens to be an old dumpster. Sag doesn’t mind Libras guitar playing while on drugs.

Libra is too peaceful for angry Scorpio who finds nothing to control. Scorpio forces Libra to take a bath. Libra farts and says “Namaste”.

Libra and Libra typically meet at an orgy or through a mutual lover. They enjoy reading Dr. Seuss and braiding each others back hair at tea.

Opposites attract: Virgo will constantly be cleaning up Pisces’s vomit, tears, and empty bottles. Pisces gets kicked out on day six.

Virgo meets Aquarius’s alien relatives and makes a negative remark about their green skin. They never come over, nor are invited, for lasagna again.

Virgo and Capricorn are immensely compatible! There’s love but manipulative Virgo’s time is mostly spent taking money from Capricorn’s off shore accounts to spend on a fondue machine. Luckily for Virgo, this goes unnoticed.

Virgo and Sagittarius is the least compatible pair in all of astrological history. Sag eats, drinks, and dirties everything they touch. Virgo cries.

Virgo will polish all of Scorpio’s weapons that they have hidden in their secret armory. Works for a while… then Scorpio “accidentally” kills Virgo.

Virgo cannot possibly live with the laid back and gentle Libra. Virg will literally die of a heart attack when they see all the dirty q tips and expired milk.

Together, Virgo and Virgo create the most annoying couple you will ever meet. Most annoying sign of the zodiac x2. No one comes to their Tupperware parties.

Leo and Pisces… turn back now! Pisces is a miserable alcoholic who pays more attention to their liquor funds than Leos latest up-do.

Opposites attract: Leo needs to be the center of attention. Aquarius pays no attention to anyone. Leo does the Macarena in Aquarius’s lab. Leo: 1 Aquarius: 0.

Leo wants Capricorn to spend a fortune on them but all of Capricorn’s money is tucked away on a small island off the coast of Bermuda. No deal hoe.

Leo and Sagittarius is “zodiacs biggest diva meets zodiacs biggest douche bag”. It works! Leo will simply have to get used to the rats and Sag’s beer breath.

Leo and Scorpio makes a horrible zodiac match. Scorpio tries to make Leo wear a Burka and convert to Islam. Leo is too busy bedazzling a beret.

Leo tries to boss Libra around but Libra does not listen. This isn’t because they’re rebellious; it’s because they have years worth of earwax.

Leo dislikes Virgo because they can’t be the boss. Virgo hates pulling out hairs from the hairbrush. Leo hates Mistolin. Failed romance.

Leo and Leo will live extravagantly in a customized house full of mirrors. But they will always fight over the hair brush and who gets the last Rice Krispie treat.

Cancer thinks they can fix Pisces with some TLC (tender, love, and care). Pisces repays cancer with a box full of donuts and cardiac arrest.

Cancer accidentally washes Aquarius’s beakers and puts them with the glassware. Aquarius eats Cancer.

Opposites attract: Cancer is usually Capricorn’s maid or butler in their giant mansion. This is usually an affair. Ends with a $20 check.

Cancer needs a loving home which Sagittarius cannot provide because their home is the inside of a porta-potty. Cancer walks away gratefully.

Cancer and Scorpio are a perfect match because Scorpio needs total control and Cancer allows. Cancer gives Scorpio their debit pin on the second date.

Cancer is constantly cleaning up after Libra. But Libra pays Cancer back in horrible singing and Buddhist advice so it all works out!

Cancer and Virgo take turns in the kitchen. They also take turns at being bitches. Most successful gay males have Cancer-Virgo parents.

Cancer has to spread rose Petals on the ground before Leo as they walk. Cancer is treated like Dobby from Harry Potter.

Cancer and Cancer will hold each other wearing nothing but aprons and watch Titanic on repeat until their tear ducts have run dry. OTP.

Wickedly compatible: Gemini is Pisces drug dealer. They pour Henny (famous liquor) on each others privates and usually bring animals into the bedroom. Ends in hepatitis.

Gemini and Aquarius count cards in casinos, become rich, then buy a mansion in Punta Cana. Gemini turns up missing several days later. Diggin’ that commitment, Gem.

Gemini and Capricorn meet while Gemini is robbing Capricorns safe. Gemini is not afraid to have sex for jewels.

Opposites attract: Gemini and Sagittarius are married for years and they don’t remember each others names nor birthdays. They live in a trash can. Harmonious.

Gemini and Scorpio attempt to play a game of “how-to-ruin-lives”. Scorpio is possessive and Gemini cannot be possessed. Literal shackles and chains.

Gemini and Libra is “Brooklyn hippie meets heights garbage”. Gemini’s boys will start to wonder when Gem started wearing fedoras.

Gemini and Virgo together is literally like when a Dominican guy is dating his mother. She tries to clean his Jordan’s with Lisol, so he pees in the hamper. Destruction.

Gemini only dates Leo because they want to get in on all the twitter followers Leo has. The relationship is a fraud. Haven’t even held hands.

Gemini comes home to Cancer once every three weeks to tell more lies and to shower. Cancer makes mangu and cries on it for good luck for Gems drug sales.

Gemini and Gemini is your classic L.A. hood couple that gets into fist fights at parties, leaves their baby with a stranger, then goes to shop at Forever 21.

Taurus and Pisces are the kings of gluttony. Endless chicken and ribs topped off with Everclear. They vomit on each other to express their love.

Taurus will never discover the “secret” lab Aquarius has in the garage because they don’t leave the couch. Harmony… until Taurus wakes up with three eyes and the ability to live without eating.

Taurus and Capricorn aka two of the most selfish and boring zodiac signs. Taurus becomes restless because Capricorn only invests in stocks not Gucci bags.

Doomed from the start: Taurus and Sagittarius will never work out. Taurus never leaves home and Sagittarius is homeless. They only meet by chance at late night drive-throughs.

Opposites attract: Taurus is greedy and Scorpio is evil. This relationship consists of systematic homicides and jewel thievery.

Taurus and Libra are both ruled by Venus. This means they are both beautiful but lazy fuckin’ assholes. To sum it up: Libra doesn’t bathe and Taurus doesn’t notice.

Taurus and Virgo are two very similar individuals! Virgo will watch how Taurus spends money and how Taurus eats, like a hawk. Taurus will criticize cooking. End result: Bloodshed.

Taurus and Leo could work out if they stopped spending all the money on fancy shit they can’t afford and stopped fighting over swag and cream puffs.

Taurus and Cancer is a match made in heaven. Cancer cooks and Taurus eats. Both never leave the house. Boring hermit losers.

Taurus and Gemini live comfortably at first because Gemini will steal Louboutins and Prada bags for their lover. So: Luxury then prison.

Taurus and Taurus will meet in a McDonalds and fall madly in love. Their family photos will look oddly similar to a pack of warthogs.

Aries and Pisces will be swimming in a sea of E&J and tears. Alcoholics anonymous was made for people like them.

Aries breaks Aquarius’s lab equipment in rage so Aquarius has alien associates abduct and mince the ram. A clean break.

Aries and Capricorn is disastrous. Capricorn hides all the money because they know Aries will spend it on white vans and aged liquor.

Aries and Sagittarius makes the best of buds who usually enjoy sniffing cocaine off each others collar bones and robbing McDonalds. Will most likely end in jail.

Aries will upset Scorpio one time and then will never be seen again.

Opposites attract: Aries the belligerent “leader” with Libra the free spirit. It’s like Romeo and Juliet because everyone dies in the end.

Aries does not have the upper-hand with Virgo because Virg hides all the alcohol to be spiteful and they are swift with a chancla. Advice: Run, now. 

Aries and Leo will have the police called on them every night for blasting Madonna too loud and having beer bottles all over the property.

Aries and Cancer is “Typical city garbage meets suburb princess”. Suicide is in the cards, folks.

Aries is outraged because Gemini drinks all of their wine and refuses to play DMX at family parties. Neither pay rent. Inevitable eviction.

Aries will fight Taurus for eating all the food in the house. Together they resemble one spaghetti and one meatball walking down the street.

Aries and Aries are classic members of poverty cycle. One’s a jobless scumbag and the other works as a part time prostitute. They will never leave the Bronx.

Beautiful? Me?! Aw shucks anon, you are too kind X3

While I completely agree that the MC in the game is almost too perfect at times, I feel like all you really needed to do for Jumin is to take his opinions and thoughts seriously and not write him off as a “typical rich corporate heir.”

And so, with manic glee induced from staying up too late for a few nights in a row, I present to you a sharp, sassy, tsundere, and crass MC who somehow manages to charm our resident cat mom ;)

WARNING: This MC is a potty mouth :P

-Admin Bloo

  • Personally, Jumin Han couldn’t understand what all the excitement was about around their new member.
  • Sure they could possibly hold a party again after a long time, but she wasn’t THAT great.
  • From what he had gathered from previous chatrooms, she was loud, crass and boisterous. And sweared way too much for her own good.
  • Hmm, since he put it that way, he could see why she got along with Luciel and Zen so much.
  • When he voices these opinions, he was immediately accused of being salty about her reaction towards his cat.
  • It is true that he was offended when he had graced the chatroom with a beautiful picture of Elizabeth III and the only thing she could say was “whatever” before changing the subject.
  • Frankly, he could care less about the lack of enthusiasm from her side. He was still going to send more of the pictures.
  • But that still didn’t erase the fact that she was the rudest and the most nonsensical woman he had ever met. It was as if she had grown up with no sense of dignity and grace.
  • She would nag him for every little expense he made; every time he gave extra work to Jaehee; and for basically every thing he did.
  • He felt so attacked. It was like she had joined the RFA to pick out every little thing he did wrong. And he already believed himself to be very efficient.
  • So why was it that he found himself amused at all the unique… names and threats MC spat out for every time Zen attempted to woo her?
  • And how could he have stayed up til 3 am simply having a “discussion” heated debate about investments and stocks when he had an early morning meeting the very next day?
  • Turns out she had a very good head on her shoulders and work as a very successful and shrewd financial advisor/planner.
  • He had to give her a little bit of respect after that night.
  • One night he had logged into that chatroom after a particularly stressful dinner, and upon finding Assistant Kang already there, started discussing various marketing schemes for a new line of cat clothing.
  • It was his luck that Zen and MC were on too; Zen had already started his tirade against prioritizing Elizabeth III over his overworked assistant. Jumin was already anticipating MC’s verbal abuse as well…
  • But strangely enough, MC had simply told Zen to shut up. and Jaehee to half-ass her work when it comes to anything related to cats, but that was besides the point.
  • Everyone in the chatroom was stunned. MC was seriously passing on roasting Jumin for the day?
  • When Zen asked why, the irritation in her reply was almost palpable.
  • “He is clearly too stressed to plan anything serious. Don’t you think that there might be a reason why he’s so fucking obsessed with his cat? I seriously don’t care to know, but if this is the only way he can relax, then LET HIM FUCKING RELAX!!”
  • Jumin felt his heart pound and forgot to breathe for a second.
  • How did she know?
  • MC logged out of the chatroom after that.
  • Jumin logged out as well, and before he knew it, he dailled her number.
  • Only problem was… he didn’t know what to say??
  • There was silence on the line for almost a minute until she responded with a soft “what?”
  • The softness of her voice cause his mouth to run dry, and he asked just as softly. “Are you okay?”
  • After a long sigh, she replied “Yes, I am. Are you?”
  • Her curtness snapped him back to normal. “Yes, but I would like to inform you that your little speech was a complete waste of energy on your part-”
  • “Listen here you son of a-”
  • “But thank you for that.”
  • That shut her up.
  • “It was just as you had said. I had a terrible meeting today and had been tense because of it.”
  • MC remained silent, and Jumin was almost about to hang up when she started talking quietly again.
  • “There is no need to explain. We all have bad days, and I was just pointing out what others were too blind to see.” But then he could hear the laughter growing in her voice. “But maybe, if you had said that at the chatroom in the first place instead of rambling about ANOTHER goddamned cat project that could potentially sink your business, then people would take you more seriously.”
  • Jumin had to chuckle at her gall. “Of course MC. I will keep that in mind. Good night.”
  • After dropping the call, he stared at the phone for a long time.
  • The new member was… truly one of a kind.
  • Thoughts of her and how different she was compared to ANY woman he had every met plagued his mind for the rest of his night.

To be continued…

UPDATE: PART 2 IS HERE

10 quotes from Warren Buffett’s letter to investors about the great Wall Street rip off

Warren Buffett just roasted Wall Street.

Warren Buffett just used more than 3,200 words to basically destroy Wall Street and one of its main sources of income — taking fees from the cash you invest with them.

If you’re not sure what‘s going on here, there’s a quick story you need to know about. In 2005, Buffett made a $500,000 bet. He essentially said an S&P 500 index fund would outperform any basket of hedge funds. The hedge funds might have the look or a ridiculously over the top name like Swift Eagle Crane Capital or Stat Sig Alpha Management, but still a basic low-fee S&P 500 index fund would outperform them over a long period.

Buffett won. And in his recent letter to investors he explains in detail what happened and what he thinks everyone can learn from his $500,000 wager. Here are 10 hand-picked quotes from his letter and at the bottom you can find a link to the entire letter.

1. Here’s Buffett explaining exactly what happened:

“I publicly offered to wager $500,000 that no investment pro could select a set of at least five hedge funds — wildly-popular and high-fee investing vehicles — that would over an extended period match the performance of an unmanaged S&P-500 index fund charging only token fees. I suggested a ten-year bet and named a low-cost Vanguard S&P fund as my contender. I then sat back and waited expectantly for a parade of fund managers — who could include their own fund as one of the five — to come forth and defend their occupation. After all, these managers urged others to bet billions on their abilities.”

2. Here’s Buffett explaining how he straight up eviscerated hedge funds with his simple bet. Mic dropped. Game over:

“In it, the five funds-of-funds delivered, through 2016, an average of only 2.2%, compounded annually. That means $1 million invested in those funds would have gained $220,000. The index fund would meanwhile have gained $854,000.”

3. In which Buffett drops an amazing parody based on a classic Wall Street movie:

“I’m certain that in almost all cases the managers at both levels were honest and intelligent people. But the results for their investors were dismal — really dismal. And, alas, the huge fixed fees charged by all of the funds and funds-of-funds involved — fees that were totally unwarranted by performance — were such that their managers were showered with compensation over the nine years that have passed. As Gordon Gekko might have put it: “Fees never sleep.”

4. You might have a Vanguard fund. Do you know who the founder of Vanguard is? Buffett says he’s one of the most underrated men in all of finance:

“If a statue is ever erected to honor the person who has done the most for American investors, the handsdown choice should be Jack Bogle. For decades, Jack has urged investors to invest in ultra-low-cost index funds. In his crusade, he amassed only a tiny percentage of the wealth that has typically flowed to managers who have promised their investors large rewards while delivering them nothing — or, as in our bet, less than nothing — of added value.”

5. Buffett explains how Bogle fought against countless enemies, critiques, and haters. A lesson even for anyone trying to start their own firm or business today:

“In his early years, Jack was frequently mocked by the investment-management industry. Today, however, he has the satisfaction of knowing that he helped millions of investors realize far better returns on their savings than they otherwise would have earned. He is a hero to them and to me.”

6. Plot twist. You ready? Buffett thinks no other class has been scammed by Wall Street harder than the elite. And not because of their incompetence, but because of their desire to feel elite:

“In many aspects of life, indeed, wealth does command top-grade products or services. For that reason, the financial “elites” — wealthy individuals, pension funds, college endowments and the like — have great trouble meekly signing up for a financial product or service that is available as well to people investing only a few thousand dollars. This reluctance of the rich normally prevails even though the product at issue is — on an expectancy basis — clearly the best choice.

7. How much money have hedge funds earned in fees regardless of performance? Here’s Buffett’s calculation:

“My calculation, admittedly very rough, is that the search by the elite for superior investment advice has caused it, in aggregate, to waste more than $100 billion over the past decade.”

8. One of Buffett’s greatest skills is his ability to observe human behavior and watch it repeat over time — in panics and in booms. He writes:

“Human behavior won’t change. Wealthy individuals, pension funds, endowments and the like will continue to feel they deserve something “extra” in investment advice. Those advisors who cleverly play to this expectation will get very rich. This year the magic potion may be hedge funds, next year something else.”

9. When Buffett drops an adage, you have to pay attention:

“The likely result from this parade of promises is predicted in an adage: “When a person with money meets a person with experience, the one with experience ends up with the money and the one with money leaves with experience.””

10. Yes, Buffett has a brother-in-law named Homer. And of course Homer has a great little lesson for everyone:

“Long ago, a brother-in-law of mine, Homer Rogers, was a commission agent working in the Omaha stockyards. I asked him how he induced a farmer or rancher to hire him to handle the sale of their hogs or cattle to the buyers from the big four packers (Swift, Cudahy, Wilson and Armour). After all, hogs were hogs and the buyers were experts who knew to the penny how much any animal was worth. How then, I asked Homer, could any sales agent get a better result than any other? Homer gave me a pitying look and said: “Warren, it’s not how you sell ’em, it’s how you tell ‘em.” What worked in the stockyards continues to work in Wall Street.”

Now if you want to read Buffett’s entire letter to investors, and even see his annual report for 2016, go to this PDF right here. If you enjoyed this compilation of Buffett quotes, or learned something new about fees on Wall Street, please like or share this post!

Allowance use

Alright my dolls, you locked that SD and started getting that money, what y'all gonna do with it?

-don’t even think about spending the whole amount. I mean NO. No matter if you are sure that’s a steel deal you got yourself, remember your daddy can leave you any time. So -

-always take some of your allowance and stack it like it doesn’t exist, literally, DEAD, burnt. Have your own little rainy day trust fund, it can be your childhood piggy bank, I don’t care as long as those paper bills aren’t spent.
Why?
You are in a great position now yet how you gonna know what tomorrow can bring you? Maybe you will be in drought for weeks sometimes a month or more. Always be prepared.

-don’t get into that terminator spending mode as soon as those hands feel the paper. Do you really need them Chanel bags and Loubies? If you are really craving for it make your SD get em for you. But honestly, shoe/bag/clothes shopping will make you happy for a while, a car or a house/apartment shopping would make you a bit more permanently happy ? These are big goals I know however aren’t unreasonable and aren’t something so not possible to reach.

-first take care of your bills/rent/tuition/food supply, COVER your basic needs for the month, SAVE the rest. You would be amazed by the sum if you counted all of them bills spent on cute little things you bought yourself from sugaring.

-Keep the receipts and sum it up in the end of a month, if you aren’t going to keep track of your money who will? God? No.

-set up some bigger goals that you plan on reaching from sugaring. It’s maybe paying off that student loan, signing up for masters degree, saving up for your own place, investing in stocks or a small start up of your own. You name it. But I’m sure there must be something more valuable to you than the shopping sprees. Tend to be more friendly to your future.

-I saw a movie few months back, and there was this scene where a bodyguard of a rich guy asks these SBs hanging in the mansion how are they investing their money? What they all said-shoes and bags. And then he spilled the basic truth, What y'all gonna do with them shoes and bags in few years? Mr X will replace you all with them younger bitches and then what? You gonna live in ya shoes? Damn. Opened my eyes. You ain’t gonna be sugaring forever.

-if you HAVE a vanilla job, don’t even dream about leaving/quitting! NO. No matter what or how good your SD is. No matter what he promises to you no matter how much money he gives you. THAT is NOT your PERMANENT INCOME. Allowance is your little/big lottery ticket you are getting every month/week. Treat it like one. It CAN be a losing one just from next time.

-be a HOE but a smart HOE. Always mention to these SDs your actual goals for your future, he is more likely to spend and help ya out with that education/business venture for example than he’ll be interested in spending on some flashy superficial stuff. I’ve learned that hard way.

-think about the way you get your allowance (wire transfer, pay pal, cheque etc) this does vary on a country you live in but CASH will always be the good old almighty cash.

-if he gives you a card, don’t buy everything you see! Take cash from ATMs and stack it. If that card is really at your disposal use it SMART. Pay your groceries with it, bills if possible, replace a thing in your home, help out your family if you are able. But don’t go on a crazy mall tour. Your SD won’t really give a damn how you used it, moreover you can earn bonus points if he notices you are spending it smart.

-I’m not saying that you should not go shopping eventually but be smart about it. Keep inventory of your wardrobe, do supply/demand chart. Do your supply renewal every 3 or 6 months. PLANNING is the mother of SPENDING. If you take care of your wardrobe it will always look fresh and new. Respect it. Remember- your bomb pussy earned that!

-you have stuff in your closet you haven’t worn a year? Great. Sell it online. It will clear up your space and get you some extra $$$.

-another tip on saving- don’t necessarily go all the time to beauty salons (if it’s not something mandatory you can’t do yourself), take some time and do your own mani/pedi, if you can style your hair (there’s some new brushes that literally do the straightening for you while using it, if I find a link I’ll post it) learn to do your own makeup. Don’t buy all the most expensive beauty products all the time, there are cheaper ones which are also good. Take note: BRAND sells the product. So don’t be a victim of someone’s successful advertising. Just because it’s a Dior cream it’s why you need to own it?

-stack as many SDs as possible, short time ones, regular ones, it means MORE money for your wallet.

-don’t show off, don’t bring that negativity out from people. It’s still bad energy and why would you possibly want to make yourself a problem or an unpleasant situation? E.g. Outing you to your friends family coworkers etc, list has no end. You DO NOT have to impress anyone! You live in your OWN skin NOT in other peoples EYES!

-if you can’t keep track of your finances/spendings hire an accountant, it will help you big time!

-take advantage of the sales when you are getting your food/wardrobe or whatever

-don’t be lazy and go to the restaurants all the time! LEARN how to cook if you don’t already know. I’m aware how delicious that home delivery is but the price of a single order could maybe cover more meals if you went to the supermarket. It’s ok occasionally ordering food/going out to eat but think how much you can save up just by cooking yourself.

-be bills and environmental friendly, which means that you don’t need to have all of your lights in the home ON all the time, take your charger out when finished charging your phone/computer, don’t leave your desktop running all day/night or on sleep mode. Same applies to your tv. Take showers instead of filling up the tub. You will be amazed how much all of that can reduce your monthly expenses! Now sum that up for a year! Oh, yes.

-instead of paying for a crazy expensive gym, go out for a run, work out at home/in nature, don’t be lazy and look up YouTube tutorials for different workouts that don’t include gym.

-use public transport whenever you can instead of taxis/uber/your own car (if you own one), take a bicycle if you can, it will do magic to your body and your bank account.

-learn the difference between your NEEDS and DESIRES. Your desire can be your worst enemy if you can’t control it.

-don’t hoard food! Do your supply AD HOC (when necessary).

-make list of all monthly expenses you have, write PROs and CONs for each. Ask yourself do you really need it every month? Cut all unnecessary things off that list.

-get a vanilla job if you already don’t have one!

Combine some of these tips and do good for yourself, doesn’t necessarily mean you have to follow up to the point rather customize it to your own convenience!

Be a smart Hoe with your money.

Day Eighty-One

-A pair of jocks came through my lane, eager to make their purchases of Yu-Gi-Oh decks. I can only hope that this was in preparation for a niche offshoot of chess boxing.

-A girl handed her grandmother a five-dollar bill to purchase something for her. After the purchase was made, the girl demanded her money back, as since the item was now bought, the grandmother has no need for it anymore. This has been the ultimate hustle and I am grateful to have been taking notes.

-After I asked a woman a question, she immediately became defensive. I am not sure if I went too far and overstepped the acceptable boundaries of cashier conversation. She stood there, suspicious wondering how I could ask such a question. I stood there, scanning, regretting asking how she was.

-A man called the store to ask permission to ride his hoverboard. He was denied, but I expect the kind of man who wishes to ride a hoverboard to do his shopping is not the kind of man to take no for an answer.

-A kid warned his mother not to eat her credit card. I did not see anything to cause this concern, but I trust he knows her better than I do.

-I was told by an elderly woman that she wished card readers would forcefully physically eject the cards onto the floor once they were done. I will now be paying a visit to the patent office.

-A college-aged man explained to me that the boxers he was purchasing were for emergencies. I understand him and appreciate his foresight.

-A woman’s shirt read “DICKS: Last Resort.” I cannot determine whether she is an overt abstinence-only Christian or an overt bisexual with a preference. Either way, I want this shirt.

-A sheriff came into the store with a serious look on his face. I was immediately filled with existential terror, anxiety, and nervous gas despite having never committed a crime in my life and also being white.

-Four college boys stumbled through my lane post-blaze. I know this as in the middle of his purchase, one stopped, blinked fervently, and loudly announced, “I just realized that there are four of us here!” They all laughed. One suggested investing in stocks. He handed me all of the cash in his wallet.

anonymous asked:

I have over 20 grand saved from sex work. I have no idea what to do with it. I don't have any debts or anything like that. Any tips?

Open an IRA (Retirement account)
Open a high interest savings account so that your $$ can grow and not just sit there
Have an emergency fund with at least 1 years expenses
Get health & life insurance if you don’t already have it
Open a business
Invest in some stocks + bonds Keep saving and buy some land
Keep paying every bill on time so you can continue to be debt free
And don’t spend your savings on dumb shit

15 Quotes I Love About Value Investing

I recently read about 40 pages of quotes from value investors around the world. The quotes were compiled by Value Investor Insight and they’ve made the entire collection free for anyone to read — you can view them all here.

But for those who don’t want to read all 40 pages, I’ve highlighted 15 of my favorite quotes below. By journaling and sharing them here, I hope they help my investment process going forward and also yours.

1. It is one of the hardest things to do and that is to remain a disciplined, long-term investor at all times.

“If the entire country became securities analysts, memorized Benjamin Graham’s Intelligent Investor and regularly attend- ed Warren Buffett’s annual shareholder meetings, most people would, nevertheless, find themselves irresistibly drawn to hot initial public offerings, momentum strategies and investment fads. People would still find it tempting to day-trade and perform technical analysis of stock charts. A country of security analysts would still overreact. In short, even the best-trained investors would make the same mistakes that investors have been making forever, and for the same immutable reason — that they cannot help it.” Seth Klarman

2. Value investors need to harness time and use it tactically.

“Time arbitrage just means exploiting the fact that most investors — institutional, individual, mutual funds or hedge funds — tend to have very short-term time horizons, have rapid turnover or are trying to exploit very short-term anomalies in the market. So the market looks extremely efficient in the short run. In an environment with massive short-term data over- load and with people concerned about minute-to-minute performance, the inefficiencies are likely to be looking out beyond, say, 12 months.” Bill Miller

3. Great investment ideas are not necessarily complicated.

“There’s a clarity that comes with great ideas: You can explain why something’s a great business, how and why it’s cheap, why it’s cheap for temporary reasons and how, on a normal basis, it should be trad- ing at a much higher level. You’re never sitting there on the 40th page of your spreadsheet, as Buffett would say, agonizing over whether you should buy or not.” Joel Greenblatt

4. There’s a perception that numbers, quants, and algorithms rule the stock market, but it’s so much more than that.

“I think my background has helped me learn to think well conceptually. Investing is not just about numbers. It’s also about imagination and structure and narrative and characters — the types of things we liberal-arts majors should know something about.” John Burbank

5. You should be able to defend your highest conviction investments at all times.

“There’s a virtuous cycle when people have to defend challenges to their ideas. Any gaps in thinking or analysis become clear pretty quickly when smart people ask good, logical questions. You can’t be a good value investor without being an independent thinker — you’re seeing valuations that the market is not appreciating. But it’s critical that you understand why the market isn’t seeing the value you do. The back and forth that goes on in the investment process helps you get at that.” Joel Greenblatt

6. Your edge is not going to come from data or news, it’s going to come from something of your creativity.

“Everyone tends to see the same things, read the same newspapers and get the same data feeds. The only way to arrive at a different answer from everybody else is to organize the data in different ways, or bring to the analytic process things that are not typically present.” Bill Miller

7. A good investment is not entirely dependent on the balance sheet, it’s also about the management team.

“We tend to be more about the jockey than the horse. It’s important to under- stand how people are going to behave under stress. You don’t have to predict the future if you know the company has the assets and management to do well in difficult times. I believe that’s when the seeds for exceptional performance are planted.” Bruce Berkowitz

8. Every investment should have a price, and if it’s not there now, you will be rewarded greatly if it ends up there down the road.

“Our best ideas tend to come from what I call “old research, new events.” That’s typically the good company you’ve studied carefully and would love to own at the right price, that gets marked down after it trips or its industry goes out of favor.” Ricky Sandler

9. Always remember that a cheap investment is cheap for a reason and cheap does not automatically make it a value.

“One of the big mistakes value investors can make is to be too enamored with absolute cheapness. If you focus on statistical cheapness, you’re often driven to businesses serving shrinking markets or that have developed structural disadvantages that make it more likely they’re going to lose market share.” Bill Nygren

10. You must know your circle of competence and when you should or should not be investing.

“I’d always said that if a guy was long the best 50 companies he knew and short the 50 worst, if that didn’t work you were in the wrong business. But that strategy was literally a recipe for bankruptcy from 1998 to 2000. I said when I closed down that it was a market I didn’t understand, and I didn’t.” Julian Robertson

11. Change your outlook on life, it will spark the little things, which in turn will lead to the big things.

“People who are in a good mood are more inclined to try learning new skills, to see things in a broader context, to think of creative solutions to problems, to work well with other people, and to persist instead of giving up. If you were writing a recipe for how to make more money, those are among the first ingredients you would include.” Jason Zweig

12. Human psychology plays a massive role in the world of investing.

“To suppose that the value of a common stock is determined purely by a corporation’s earnings discounted by the relevant interest rates and adjusted for the marginal tax rate is to forget that people have burned witches, gone to war on a whim, risen to the defense of Joseph Stalin and believed Orson Wells when he told them over the radio that the Martians had landed.” Jim Grant

13. Durability is a trait you should never overlook.

“The key to investing is not assessing how much an industry is going to affect society, or how much it will grow, but rather determining the competitive advantage of any given company and, above all, the durability of that advantage.” Warren E. Buffett

14. Avoid complacency and stay vigilant.

“One of the economists who has heavily influenced the way I think is Hyman Minsky, who always said, “Stability begets instability.” The very idea is that the more stable things appear, the more dangerous the ultimate outcome will be because people start to assume everything will be all right and end up doing stupid things.” James Montier

15. I am making this investment today because… You need to be able to answer that every single time.

“I never buy anything unless I can fill out on a piece of paper my reasons. I may be wrong, but I would know the answer to that. “I’m paying $32 billion today for the Coca Cola Company because.” If you can’t answer that question, you shouldn’t buy it. If you can answer that question, and you do it a few times, you’ll make a lot of money.” Warren Buffett