Investing General Discussion

Sludig said:

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.

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You need a lawyer in the county they die in (at least in FL) as that court most likely will handle the probate.

Dollar spikes to 160 Yen (+1%) as Asian opens. Funds are holding the second largest short position in history. Shits gonna be a fun ride and possible a really short ride.

Sanrith Descartes said:

Dollar spikes to 160 Yen (+1%) as Asian opens. Funds are holding the second largest short position in history. Shits gonna be a fun ride and possible a really short ride.

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I don't understand currency issues like this.

So, they're short. What happens as the Yen continues to fall? Hyperinflation and a complete exit from Japanese markets? People leave the country? The FED bails them out?

Tmac said:

I don't understand currency issues like this.

So, they're short. What happens as the Yen continues to fall? Hyperinflation and a complete exit from Japanese markets? People leave the country? The FED bails them out?

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Short version: the Japs hold 1+ trillion in US treasuries. The bet is they will sell US treasuries to buy Yen which simultaneously hurts the dollar and boosts the yen. The BoJ can't let the yen fall forever. The shorts are looking for a short term bet that the BoJ fails to intervene now, the yen continues to fall and they close their shorts with profits. If the BoJ acts sooner than the shorts expect, it can create a tasty short squeeze as the shorts cover. Its a double win for the Japs.

Yesterday was a holiday and the Jap Govt was closed. Rumor is they intervened overnight anyway and the Yen made a 2% u-turn overnight. Currently at $156 to the dollar.

Blazin said:

No offense but thats silly. That would be like saying the Dollar can't drop forever. Umm yes it can. They have major deficit spending that is going to devalue the Yen. THey have done a lot for years to prop it up they finally realize its coming down, the BoJ knew exactly what would happen when they started removing support.

I just need a half naked dude as your avatar and we could have a real quality zeroHedge post.

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No offense taken. We disagree. In the literal sense of the word, yes the yen or the dollar or the Euro "can" drop to zero. I wasn't speaking in the literal sense. I was speaking that economic and political pressure will force some sort of intervention. The BoJ will intervene (in my opinion). Is it today, tomorrow, or when the a new govt comes in because people are unhappy with their purchasing power disintegrating before their eyes. I am betting my shekels it is much sooner rather than later. If I'm wrong I cut bait at -10%. If I'm right I make a some coin.





edit:
WSJ reporting the Japs intervened overnight and propped up the yen. MSN link since the WSJ link is paywalled.


"The yen weakened to around 160 per dollar on Monday, but bounced back to around 155 per dollar after Japanese authorities started buying yen and selling dollars, according to the people.

Japanese officials didn’t officially confirm the move but Masato Kanda, the finance ministry’s top currency official, hinted at the intervention.

“It is difficult to ignore the bad effects that these violent and abnormal movements [in currencies] will cause for the nation’s economy,” said Kanda, adding that the government will “continue” to respond to wild currency moves."

TSLA +10% pre-market on word Musk flew to China yesterday and secured a deal with the gubmint to release FSD in China and with Baidu providing the mapping info.

TSLA absolutely crushing it. Blazin and Cathy seem vindicated in their decision by each passing day.

IDK, gapping up after a falling knife is quite the crush.

CRUSHING!!!

I would never invest in ARK over TSLA. Is folgers in ARK?

Still diamond-handsing a few thousand in IJS.

Tmac said:

I would never invest in ARK over TSLA. Is folgers in ARK?

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My advisor managed portfolio has some ARKK in it…. 4 purchases. 2 are green and 2 are red. 2 bought at the wrong time and 2 bought at the right time.

Im trusting Cathy though. If I wait long enough it’ll all be green.

Blazin said:

Not sure what you're disagreeing with. Riddle me this:
If an asset drops 10% in value every year how long does it take to get to zero?

We'll skip right to the end of the lesson:

Spoiler

NEVER

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Really gives some perspective to the term "slow and painful death". ::shiver::