Investing General Discussion

Borzak

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The savings account I use for my boys allowance now gains enough interest to cover their allowance lol

Wait till someone explains inflation to them and they need to ask for more allowance . Like early on I got the talk about taxes and was very surprised people at their first high school job were shocked they took out taxes.
 
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Borzak

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Southwest said it lost $231 million. CEO Robert Jordan said the airline was reacting quickly “to address our financial underperformance," including by slowing down hiring and asking employees to take time off.

In August, Southwest will stop flying to four airports: Cozumel, Mexico; Syracuse, New York; Bellingham, Washington; and George Bush Intercontinental Airport in Houston, where the airline’s major operation is at smaller Hobby Airport.
 

Sanrith Descartes

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Stagflation? Who could have called that one?

Oh, it was everyone who noted that J Pow and the Fed didn't raise interest rates over the real rate of inflation meaning that stagflation would be the inescapable result?
Huh, weird.
You know, Lord Keynes posited that stagflation was impossible under his model.


obligatory Keynes/Hayek rap battle...

 
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Sanrith Descartes

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Japanese Yen is currently in a seriously fucked position right now. Just hit a 34-year low. I believe the BoJ will intervene sooner rather than later and/or the dollar softens. I grabbed a bit of FXY at $58.71 for a short term hold to see if I'm right. This is more gamble than investment so I advise anyone thinking of following me to do your own due diligence and keep it on a very short leash in terms of losses.

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Dice Vegas GIF by The Weeknd
 

Gravel

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Currency exchange rates are always weird to me.

So is the Yen at a low just against the dollar and euro? Or did it fall against every single currency?
 

Sanrith Descartes

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Currency exchange rates are always weird to me.

So is the Yen at a low just against the dollar and euro? Or did it fall against every single currency?
Ain't just us. Vs the Euro. The difference is the Euro has had its own issues so the drop isn't as stark as vs the dollar.

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Mist

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Japanese Yen is currently in a seriously fucked position right now. Just hit a 34-year low. I believe the BoJ will intervene sooner rather than later and/or the dollar softens. I grabbed a bit of FXY at $58.71 for a short term hold to see if I'm right. This is more gamble than investment so I advise anyone thinking of following me to do your own due diligence and keep it on a very short leash in terms of losses.

View attachment 526397

Dice Vegas GIF by The Weeknd
Been considering the same with the dollar booming this hard, but historically when things go south with Asian currencies, things go REALLY south, REALLY fast. There's no guarantee the BoJ has the required toolkit/economic knobs to turn this around.

Maybe buying solid NIKKEI equities might be better?
 
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Borzak

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Copper beat it's 2 year high and is accelerating. No idea what is driving copper demand.
 

Sanrith Descartes

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Been considering the same with the dollar booming this hard, but historically when things go south with Asian currencies, things go REALLY south, REALLY fast. There's no guarantee the BoJ has the required toolkit/economic knobs to turn this around.

Maybe buying solid NIKKEI equities might be better?
There is no guarantee, which I exactly why I called it a gamble. Being at a 34-year low strikes me as being "really south".
 

Sanrith Descartes

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Copper beat it's 2 year high and is accelerating. No idea what is driving copper demand.
People get hyper focused on miners in terms of lithium and rare earths, but don't focus on things like plain old copper. There is money to be made in boring mining that can also produce lithium.
 
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Sludig

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Didn't want is own thread, but parents gave me will and trust paperwork as they are getting older. old from 2022, I'm debating urging them to update. My concern is trust says to be divided with my younger brother equally but he's listed as the trustee. sure he lives close to them but he's kinda a loser living in one of their houses now. My fear is him trying to fuck me on 2.5 mill in property and up to maybe another mil in investments. Sure I can sue the estate but he can blow plenty of the money on his lawyers.

I wouldn't want sole trustee either as I wouldn't put that much trust in either of us. But at least I'm stable enough to live my life without counting on inheritance vs my brother that lost his decent hvac job and now working as done dead end warehouse assembly worker.


Wondered if maybe Burren Burren or Sanrith Descartes Sanrith Descartes could look at it and give an opinion or hell, for the actual lawyers pay for some legit council.
 

Borzak

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People get hyper focused on miners in terms of lithium and rare earths, but don't focus on things like plain old copper. There is money to be made in boring mining that can also produce lithium.

The lithium buble is or has deflated at least in my part of the world. Last summer big money thrown around buying and leasing mineral rights in the hopes of hitting lithium. By start of year that disappeared like someone turned off the light switch.

I did like the one comment on copper. Nobody steals hoses at the gas station.

I never did get a solid answer anywhere I looked. The small mineral rights I sold are located under the national forest. Direction drilling for oil and gas is a thing. I fail to see how you could get lithium out without going in through/down the national forest. Which if you own the mineal rights you have access to them by law, but mining through the top of the national forest I don't know how that would go. When I worked for the US Forest Service there were a few pump jacks that were producing and a truck came and picked it up every few days and it was fenced off in a small area. But guessing lithium mining is much more disruptive to the surface.
 

Burren

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Didn't want is own thread, but parents gave me will and trust paperwork as they are getting older. old from 2022, I'm debating urging them to update. My concern is trust says to be divided with my younger brother equally but he's listed as the trustee. sure he lives close to them but he's kinda a loser living in one of their houses now. My fear is him trying to fuck me on 2.5 mill in property and up to maybe another mil in investments. Sure I can sue the estate but he can blow plenty of the money on his lawyers.

I wouldn't want sole trustee either as I wouldn't put that much trust in either of us. But at least I'm stable enough to live my life without counting on inheritance vs my brother that lost his decent hvac job and now working as done dead end warehouse assembly worker.


Wondered if maybe Burren Burren or Sanrith Descartes Sanrith Descartes could look at it and give an opinion or hell, for the actual lawyers pay for some legit council.
Seek legal council local to you, face to face, to review the documents. Having your brother as the trustee isn’t necessary a conflict of interest, but it’s not ideal and he likely won’t be impartial, objective, or equitable.

You really should have it sorted out now, not after your parent’s passing. Many law firms can act as the trustee and be the impartial third party to make sure things are handled properly.
 
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The_Black_Log Foler

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What are so good stores of wealth for the eventually collapse of our economy? Just riding it out with what you have and not selling? Real estate? Bonds?
 

Sludig

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Seek legal council local to you, face to face, to review the documents. Having your brother as the trustee isn’t necessary a conflict of interest, but it’s not ideal and he likely won’t be impartial, objective, or equitable.

You really should have it sorted out now, not after your parent’s passing. Many law firms can act as the trustee and be the impartial third party to make sure things are handled properly.
I don't know how much state law matters they are in co, I'm in ok. And my trust in your average oklahoma professional is low.

What would the type of lawyer be called to be specialized in that.
 

Sanrith Descartes

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Didn't want is own thread, but parents gave me will and trust paperwork as they are getting older. old from 2022, I'm debating urging them to update. My concern is trust says to be divided with my younger brother equally but he's listed as the trustee. sure he lives close to them but he's kinda a loser living in one of their houses now. My fear is him trying to fuck me on 2.5 mill in property and up to maybe another mil in investments. Sure I can sue the estate but he can blow plenty of the money on his lawyers.

I wouldn't want sole trustee either as I wouldn't put that much trust in either of us. But at least I'm stable enough to live my life without counting on inheritance vs my brother that lost his decent hvac job and now working as done dead end warehouse assembly worker.


Wondered if maybe Burren Burren or Sanrith Descartes Sanrith Descartes could look at it and give an opinion or hell, for the actual lawyers pay for some legit council.
Anecdotal info. i just went through the process with my mom in Florida. We had beneficiary set up on all her accounts. The transfer went smooth as glass. The only thing I had to probate was her house and car.

Friend going through the process now with him and his brother as co-executors. The estate was bigger and they didn't have beneficiary set up on accounts since their dad wanted things split. It's a shit show. They can't agree on things and it's been about 6 months and they have no end in sight.

Based on the experiences above, I HIGHLY recommend having your parents having every asset account assigned to one or the other as a beneficiary on death. That eliminates the need for court and lawyers on those accounts. Then choose someone willing to go through the hassle of being the executor for the property that needs the court. If neither of you are a good choice then maybe pay an attorney to do it.

Also, have the will looked at by an atty ahead of time if an atty didn't draw it up. It sounds simple, but one little issue can void the entire will. This happened to ours (even though it was notarized) and it was voided. Luckily I was sole descendent so it fell to me under the law anyway and there was no other party contesting it.

My experience with this is until you have done it, you can't know how fucked up the process can get since it's the court and judges and that every bank, hospital etc will not tell you shit even with a death certificate. They want the court paper assigning the executor. And after someone passes it's too late to fix things. Spend the time making sure the will is airtight before anyone dies.

Also, simple things like paying their bills while waiting for the court gets screwy. Banks will lock all their accounts and only the executor can access them. So any delay getting the court to approve of the executor means you are covering those bills out of your pockets.

All of this depends on your state as well.

Hope this helps.

Edit: I forgot to mention that your parents setting up a trust for everything is worth looking at as well. It streamlines a lot of the potential issues.