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Hey Nerds: Blockchain

CH1 said:
My BB position was always going to be a small one; long term hold that I didn't need to babysit. maybe hits $50 in 3 yrs.

So, I only bot 300 shares in Dec-- cost me $2250 total. Yesterday I sold 200 shares for $4300.

so, can't lose, even if BB goes to zero.
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Ah. I wouldn't call that zero cost basis. I'd call that playing with house money.
 
LeafOfFaith said:
Ah. I wouldn't call that zero cost basis. I'd call that playing with house money.
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sure...I actually hate thinking that way since it's always "your money" on the line; but nothing has changed with my long term BB forecast. I just got free cash out of it.
 
LeafOfFaith said:
If you're still holding stuff then what does hoarding cash even mean? What percentage is cash?
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It means the vast majority of my profits over the last ~6 months are not being re-invested into other stocks. It is sitting there, waiting. I go heavy once in awhile on day trades or swing trades so I do use the funds from time to time like when the sector is hot or if it's oversold. Last night was one of those times and it worked to perfection.
 
CH1 said:
sure...I actually hate thinking that way since it's always "your money" on the line; but nothing has changed with my long term BB forecast. I just got free cash out of it.
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Sure, but you still have the same cost basis in the remaining shares.

I've often toyed with the idea of just buying more than what my established position is, to sell off the excess and use it for other things.
 
Preston said:
It means the vast majority of my profits over the last ~6 months are not being re-invested into other stocks. It is sitting there, waiting. I go heavy once in awhile on day trades or swing trades so I do use the funds from time to time like when the sector is hot or if it's oversold. Last night was one of those times and it worked to perfection.
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So you've basically budgeted a certain amount of principal to trade with, shove the profits away and keep playing with the principal?
 
LeafOfFaith said:
So you've basically budgeted a certain amount of principal to trade with, shove the profits away and keep playing with the principal?
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During times where I think a lull is possible in the broad market and especially the sector? Yeah. Historically, the sector performs poorly about a month and a half away from their earnings releases + a broad market pullback will weigh heavily on everything I own. Doesn't mean it has to happen and this is a unique groundbreaking year for weed so there can obviously be an exception. But that's how I manage risk. I will happily buy higher if we don't get a dip. Fucking happily. And let's make it clear.. My current positions are not small in any fucking imagination.


The only two recent times I've literally scraped up pennies from under my couch to put into stocks were in December 2018 and March 2020.
 
LeafOfFaith said:
If you're still holding stuff then what does hoarding cash even mean? What percentage is cash?
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LOF, you missed your calling. You should be hosting HARD QUESTIONS on CNBC, a new 30 minute program, Sunday Night at 9
 
Here's one. Why MSOS and not their other seemingly international one YOLO?

Is US just a much better play for weed than other countries?
 
LeafOfFaith said:
Sure, but you still have the same cost basis in the remaining shares.

I've often toyed with the idea of just buying more than what my established position is, to sell off the excess and use it for other things.
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I sold some PTON to buy an actually Peleton, but was turned off by the 4 month wait. Of course, that was 8 months ago; and I need indoor fitness in this weather.
Tl;DR I am an idiot
 
LeafOfFaith said:
Here's one. Why MSOS and not their other seemingly international one YOLO?

Is US just a much better play for weed than other countries?
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About 5000 times better. Canada is a tiny market and Europe/the rest of the world is moving at a snails pace. And who knows what kind of regulations they'll have in the rest of the world. US is very capitalism friendly. The conditions are perfect for these companies. That can change of course... It's definitely one of the risks in the long-term.
 
Preston said:
During times where I think a lull is possible in the broad market and especially the sector? Yeah. Historically, the sector performs poorly about a month and a half away from their earnings releases + a broad market pullback will weigh heavily on everything I own. Doesn't mean it has to happen and this is a unique groundbreaking year for weed so there can obviously be an exception. But that's how I manage risk. I will happily buy higher if we don't get a dip. Fucking happily. And let's make it clear.. My current positions are not small in any fucking imagination.


The only two recent times I've literally scraped up pennies from under my couch to put into stocks were in December 2018 and March 2020.
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Yet you have your long account. You're just talking about your trading account.

So really, you're not really hoarding anything. You're just stowing away profits from some trading fund you've segregated while still having long positions. Hoarding to me means you're trading and trading and ending up mostly entirely in cash by the end of each day. Not that you're long and holding a bunch of stuff but also trading. If your crash comes, your long account suffers.
 
Preston said:
In that case I make tremendous amounts of money on everything I hold. Less stressful that way. But you bet you're ass we're going to get a market pullback at some point. I said it many times... My bread is made on those pullbacks. December 2018 and March 2020 changed a life folks. Protect gains, hoard cash as a hedge. Market dumps --> profit.
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Don't buy the next dip. You will be fucked.

On the series premiere of my show, TOUGH LOVE, immediately following HARD QUESTIONS on Sundays
 
LeafOfFaith said:
Yet you have your long account. You're just talking about your trading account.

So really, you're not really hoarding anything. You're just stowing away profits from some trading fund you've segregated while still having long positions. Hoarding to me means you're trading and trading and ending up mostly entirely in cash by the end of each day. Not that you're long and holding a bunch of stuff but also trading. If your crash comes, your long account suffers.
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I don't discuss my long accounts here. That shit is boring. If a crash comes I add to my longs and degenerate account as I did back in March and December. Anyway I don't think you quite understand my strategy or trading in general.
 
I also think the Canadian market overheated early, and we still haven’t seen the rationalization we need.

The biggest producer still hasnt figured out how to make money.
 
CH1 said:
I sold some PTON to buy an actually Peleton, but was turned off by the 4 month wait. Of course, that was 8 months ago; and I need indoor fitness in this weather.
Tl;DR I am an idiot
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I have a client who met me for dinner on December 30, 2019 with a new Tesla SUV he got that day. Over here, certain large vehicles, you can actually write off the full value of the car in the year you purchased (without even having made more than one payment yet). I always remember that and tell him he fucked up so bad by not buying TSLA instead of that Tesla. And then he entered 2020 without really anything invested in the market, sat through the crash in March firmly on his hands while he and I talked about Uber at $12 and whatnot, and he still hasn't bought a thing.

This guy is a supreme capital raiser with an intricate knowledge of all things concerning companies and markets, and has profited nada from it in the markets.
 
LeafOfFaith said:
This guy is a supreme capital raiser with an intricate knowledge of all things concerning companies and markets, and has profited nada from it in the markets.
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I can dig it -- it's not for everyone. Most of my friends know diddly about stocks -- the ones with some bread hire an advisor and look at their statements 2x a year
 
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