Investing General Discussion

I just opened up a paper trade shorting 1M of TSLA at 860.7. We'll see how it goes, but its just paper, and I'm thinking they won't push it much higher.

Sanrith Descartes said:

I read last night they began delivering the 2022 refreshed Model X's yesterday. This is about 4 months ahead of schedule and surprised a bunch of folks. I can see it running higher and making a try for $900.

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Its a paper trade, so we'll see. I don't think the company is worth 300 a share. These fuckers are crazy. How much longer can the market stay irrational?

I'm experimenting, so I don't count it against my tally.

Furry said:

TSLA is probably worth 30$ a share, change my mind.

I also expect TSLA to break 3000 within a year or two.

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LOL

The wealthiest 10% of Americans now own 89% of all U.S. stocks, a record high that highlights the stock market’s role in increasing wealth inequality.

The top 1% gained over $6.5 trillion in corporate equities and mutual fund wealth during the pandemic, according to the latest data from the Federal Reserve.

The bottom 90% of Americans held about 11% of stocks, and added $1.2 trillion in wealth during the Covid-19 pandemic.
The wealthiest 10% of Americans now own 89% of all U.S. stocks, a record high that highlights the stock market’s role in increasing wealth inequality.

The top 1% gained over $6.5 trillion in corporate equities and mutual fund wealth during the Covid-19 pandemic, while the bottom 90% added $1.2 trillion, according to the latest data from the Federal Reserve. The share of corporate equities and mutual funds owned by the top 10% reached the record high in the second quarter, while the bottom 90% of Americans held about 11% of stocks, down from 12% before the pandemic.

The stock market, which has nearly doubled since the March 2020 drop and is up nearly 40% since January 2020, was the main source of wealth creation in America during the pandemic — as well as the main driver of inequality. The total wealth of the top 1% now tops 32%, a record, according to the Fed data. Nearly 70% of their wealth gains over the past year and a half — one of the fastest wealth booms in recent history — came from stocks.

“The top 1% own a lot of stock, the rest of us own a little,” said Steven Rosenthal, senior fellow, Urban-Brookings Tax Policy Center.

The growing concentration of wealth comes despite millions of new investors coming into the stock market for the first time during the pandemic, leading to what many have labeled “the democratization” of stocks. Robinhood added more than 10 million new accounts over the past two years and now has more than 22 million — many of them held by younger, first-time investors.

Yet while the market may be owned more broadly, the gains and wealth it creates are not being more widely distributed. Rosenthal said that while the army of new investors may be numerous, they are also still small, with the average account size at Robinhood at about $4,500. When markets rise, they will have far smaller dollar gains than wealthier investors with hundreds of thousands or even millions in stock holdings.

“Many of the younger investors also bought in at higher prices, compared to bigger investors who have been in the market for years and see larger gains,” Rosenthal said.

What’s more, many of the new investors have more of a trading mentality — buying and selling stocks rapidly, with leverage, in hopes of quick gains. While the strategy can create big winners, others may see lower returns than those of investors who simply buy and hold for the long term.

The top 10% saw the value of their stocks gain 43% between January 2020 and June of 2021, according to the Fed. The bottom 90% saw stock wealth rise at a lower rate — 33%.

“They might account for a larger share of trading activity, but that’s different from ownership and wealth,” Rosenthal said.

Break said:

I sold about 2/3's of my stocks today. I'm down to a single tech stock that is up like 300% since I bought it. Does anyone else have a feeling of impending doom with the stock market? I'm expecting that the Democrats/WH are incapable of course correcting their insane mandate, which are about to tank the economy if not stopped immediately.

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I learned the hard way it's best to just hold. Every time I tried to time the market it went the opposite direction. Every. Single. Time.

Also, I don't think the Fed will allow the market to crash.

Getting out of my TSLA short with a small gain. They probably will push it to over 900. It was 100 shares, so 86k short and not 10x that.

CLF:





Fucking ruined that trade... even when they absolutely destroy earnings and have a positive outlook the negative short term view for steel just sucked all the air out of the room leading to a sell off after earnings which now might not even see $22/share now because of the FUD.

fuck