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Investment Thread - For all your money needs

I'm going all-in Tesla this year and looking to 10x by 2025.
 
An investor friend told me you don’t go broke taking profits. I was up about 125%. That’s good enough for me. On to the next one.

I have no argument with that. I do not buy individual stocks that often anyway. I cashed out tesla after ridiculous gains in a short time period. It continued to climb after I sold, but I couldn’t complain.
 
I have no argument with that. I do not buy individual stocks that often anyway. I cashed out tesla after ridiculous gains in a short time period. It continued to climb after I sold, but I couldn’t complain.

Oh fuck that. You can 100% complain. It just doesn't do you any good. I do this all the time because I hate myself.
 
because of course

 
CLOV is not playing around. See ya shorts. Might sell some profits later today and try to jump back in on a dip.
 
I had the opportunity to dump my AMC for 100% gain about six days ago. Got greedy. Now my calls are wedging my butt cheeks apart and just going HAM in a very bad way.

Pretty red out there, boys.

i held AMC for exactly one week and then realized WHAT THE FUCK AM I DOING invested in a movie theater that literally has no business

*sigh*

Fucking $50 a share.

I had motherfucking leap calls: $5 8/2021. I had so many fucking calls. ...Just...*sigh*
 
You need to keep reading the entire agreement. The settlement agreement requires Tether to provide proof of their reserves to the state every quarter for two years. And you need to know what Tether previously provided to the OAG to know the proof they are being asked to provide. They have made their first required disclosure about the status of their reserves as of 3/31/21.

This issue had an enormous spotlight on it when the case was outstanding. There were some people claiming the principals of the company would just walk off either before or after the settlement. There were people saying they'd never make the first disclosure. And when the disclosure was made there were people who studying it and institutions were no doubt getting background information beyond what was publicly disclosed.

IIRC the breakdown as of 3/31/21 was Tether was backed 75% by cash and cash equivalents, about 15% by secured loans and about 10% with corporate bonds and precious metals deposits. They'll have to make another disclosure as of 6/30. And those disclosures will continue quarterly for two years. I admittedly don't know what constitutes a bona fide reserve in the eyes of the state of New York - e.g. what is securing the loans that represent 15% of the reserves.

More to the point, the state of New York was never just going to say hey, just don't work with residents of NY. Further, the ban was not a complete ban. And more importantly, New York knows its residents and resident institutions that participate in the crypto markets still use and hold millions of dollars worth of Tether every day. So they were not just going to walk away and permit a "ponzi". It absolutely was in the state's interest to track and monitor those reserves going forward, which is what they are doing.

FWIW, not that it would be much use if USDT was a complete scam bc the crypto markets (and other markets) would be wrecked, but I use USDC (fully reserved with USD) and LUSD (backed fully by ETH) when using stable coins.



Lots of reports of Tether being like a top 10 holding in commercial paper

https://www.ft.com/content/342966af-98dc-4b48-b997-38c00804270a

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https://www.ft.com/content/342966af-98dc-4b48-b997-38c00804270a

“Until last week we hadn’t really heard of them,” said a trader at a large bank. “It was news to us.”

JPMorgan’s analysts said the large commercial paper holdings may suggest that Tether is struggling to find a bank willing to take its cash as a deposit. The US Office of the Comptroller of the Currency has released guidance saying that banks can take deposits from stablecoin issuers only if the coins are fully backed by reserves.

However, as Tether’s reserve holdings have been questioned by regulators such as the New York attorney-general in the past, providing banking services to Tether will “likely raise reputational risk concerns”, wrote the JPMorgan analysts.

But Stuart Hoegner, Tether’s general counsel, said: “With respect to reputation, we believe we are seeing the opposite: more and more counterparties are comfortable with Tether and our transparency initiatives and are keen to work with us.”

“Tether has amply demonstrated, most recently through assurance opinions from [auditor] Moore Cayman, that all issued tethers are, in fact, fully reserved,” he added.

Tether said that it funnelled roughly half its reserves into commercial paper. Another 18 per cent is held in fiduciary deposits, more than 12 per cent in secured loans and nearly 10 per cent in corporate bonds, funds and precious metals. Cash made up only 2.9 per cent, according to the company’s disclosure.

Again, the general counsel quoted here was also general counsel for the online poker site that ripped everyone off. And the guy in the Cramer interview says (and the person quoted above here) says they don't see tether in the commercial paper market at all, yet they own as much as blackrock and vanguard if they're to be believed.

This shit is a giant scam. If you believe in crypto, great. But get out now and buy back after this fraud crashes everything.
 
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Looks like the tether dam is breaking. Reading now the reason why no one in the commercial paper market has ever heard of tether despite them owning more than Vanguard is cause it's all Chinese commercial paper, supposedly. Even if true, which it likely isn't, good luck over in Chinese court getting your money back.
 
Yo, ATS and Blue, my spider sense is tingling. Feels like housing inventories are really taking off. Prices are still sky high, but I think the market is leveling off. I'm really surprised at how much the inventory seems to be increasing. Feels eerie.

Maybe it's the rain, but I'm feeling like we could go the other direction fast if the ol' COVID comes back.
 
Yo, ATS and Blue, my spider sense is tingling. Feels like housing inventories are really taking off. Prices are still sky high, but I think the market is leveling off. I'm really surprised at how much the inventory seems to be increasing. Feels eerie.

Maybe it's the rain, but I'm feeling like we could go the other direction fast if the ol' COVID comes back.

I'm getting a bit of that too, but everything I've seen/read in terms of mortgage/housing looks strong until late 2022 at the earliest, or into 2023. All eyes on the Fed later next year, but if the 'vid comes back strong, the supposed rate hike(s) may just become an never-ending rumor.

Saw Morgan Stanley expects a 10-20% stock market correction though, which makes sense. I've been too much on the sidelines since March, but now may remain there for a while.
 
Let me make sure I understand this correctly: the rubes refuse to get vaccinated, allowing a covid surge, which leads to sharp losses in the stock market, financially harming the "elites" that they despise. Are they geniuses playing the long game?
 
So due to gross mismanagement, the largest collection of pinball machines (600) & stand up video games (1200) + about 800 in storage are all going for sale at once in October at auction. No way they can unload that many that fast. Who wants to raise some private equity and vulture some of these bad boys.
 
I'm getting a bit of that too, but everything I've seen/read in terms of mortgage/housing looks strong until late 2022 at the earliest, or into 2023. All eyes on the Fed later next year, but if the 'vid comes back strong, the supposed rate hike(s) may just become an never-ending rumor.

Saw Morgan Stanley expects a 10-20% stock market correction though, which makes sense. I've been too much on the sidelines since March, but now may remain there for a while.

The supply chain shitshow caused by Covid port disruptions and floods in China is going to cause a massive drop in retail revenue this fall and winter. I'd say a correction seems guaranteed.
 
The supply chain shitshow caused by Covid port disruptions and floods in China is going to cause a massive drop in retail revenue this fall and winter. I'd say a correction seems guaranteed.

I agree. This coupled with what I posted above makes me think micro-recession for Q4 and Q1 2022.
 
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