Investing General Discussion

Lightning Lord Rule said:

Sorry, but what are FIRE stories? Is it the Finance Insurance Real Estate acronym or something else? Not sure how that relates to the context here.
Figured I'd ask before I search on it to get an idea.

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Financial Independence / Retire Early movement. Been around for quite some time. Mr Money Moustache has been talked about on this forum for years. He is the extreme version, but there are many great points he makes. Every little bit helps. Scale waaaay back on expenditures early in life and invest far more. Live semi-frugal, dont get caught up in consumerism (the Joneses). Basically puts you on a path to Financial Independence by your mid30s-mid40s, depending on your aggressiveness.

I kind of joke with the wife that I "accidentally" retired when I quit my job in 2018 to move here to the UK and get married. My short story is I got a 6 figure job at 24 years old (same company for about 18 years), but the smartest thing I did was max 401k investment from day 1. My view was, its money I never had, so its nothing I will miss. I've still bought dumb things along the way (new cars, overseas travel), but always keeping an eye on finances and socking away as much as possible. I stopped work in 2018, and we've got more money in the bank today than 2018, so I am doing something right.

The BIGGEST single bonus from our financial position is I can still choose to work if I want to, but I have "fuck you money" to walk on any shitty gigs. Same with the wife. She is self employed and makes documentary films for BBC / Netflix etc. She only takes gigs she wants to. No need for the trash ones. Its a fantastic work / life balance that suits us.

Jokes on you guys, my mom was so frugal growing up, I got all the disadvantages and none of the benefits of FIRE

Lightning Lord Rule said:

Yeah I'm not searching on that.

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If youre not familiar, it is hilarious. There is a Netflix doc on it that paints the picture fairly well. Highly entertaining, go watch!

TLDR: Fyre festival was a big fuck you money grab that scammed everyone of money.

Sanrith Descartes said:

Watch this on Netflix. its hilarious. But in a "holy shit those people are stupid" kind of hilarious.

https://www.netflix.com/Title/81035279

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Its mostly Millenials and Z'ers getting robbed, so thats always a fun watch.

Anyone catch Carvana today? CVNA +66%

Catalyst:
CVNA Raises Q2 adj EBITDA >$50M (prior 'positive'), Non-GAAP total GPU above $6,000

Anyone want to call bullshit on $6k gross profit per vehicle? Seems way OTT.

And just like that, we are officially in a technical bull market:

Tesla absolutely ripping up shorts after hours today.

If you're not following along, that is now both Ford and GM that have capitulated to Tesla charge standards and allows Tesla to sell a service (supercharger network) to other companies / individuals. This is quite a bullish catalyst. They are no longer just a "car company", they are now truly a service provider (EV charge) as well.

Then you've got this shit:

Fed Emergency Bank Bailout Facility Usage Tops $100 Billion For First Time As Money-Market Inflows Soared Again

"strong and resilient" banks (Fedspeak) borrowing more money from the Fed bailout program.

We've still got a $400B deluge of tbills by end of month / $1T by September. Thats some serious liquidity drain incoming. Hedge your longs in this market, gentlemen.