If someone cant buy stock or bring computing power they will have to be a living advertisement. They will be "owned" by a company like amazon in exchange for the bare minimum.
Also, I dont think the concept of a recession holds in a world where everyone is jobless.
Note: I promise I'm not a doomer. I will always trust a company to keep me alive. Otherwise I can’t be sold its products and I cant entertain the incremental game. I trust big corporations more that governments.
Caught Jenson at Dennys this morning
He says they arent bothering with an earnings call
His numbers are so good hes just releasing them with a note
BER R FUK
Yeah I am sure both sides voted almost unanimously to release things that would incriminate themselves and/or their biggest financial backers. I would be shocked if a single person of note went to jail as a direct result.
On a positive note, you are still young, and have experience most can only dream of.
Objectively, $MSTR P/E & RSI look appealing now - BTC seeming to set a higher lows...
IMHO I simply can't reconcile giving my measly funds to a billionaire so he can buy crypto.
Definition of a zero sum game - a ponzi within a ponzi.
The fundamental apprehension surrounding the S&P 500 index, which is tracked closely by the SPY exchange-traded fund, is that the trajectory is likely to be downward, and this is a sentiment that is pervasive, even if the concrete reasoning is perpetually just out of reach, for the air outside is remarkably thick today, a humid blanket that is oppressive, which is often what is called a "tropical feel" even though we are clearly miles from any actual tropics, and this weather condition is, in fact, entirely divorced from the sophisticated algorithms that are determining valuation, but the general feeling it instills is one of foreboding, which is a feeling that is is is often mistaken for actionable intelligence, and the latest news broadcast is confirming that the state legislative session is adjourned, which is a procedural note that is neither bullish nor bearish, yet it is a development in the world, and the world is what the market is supposed to be reflecting, isn't it, and the very structure of the modern financial system is so intricately layered that the smallest disturbance is felt everywhere, which is to say that the butterfly effect is always in play, and the cloud cover that is currently obscuring the morning sun is a physical representation of that opacity, and the fact that the local football team, which is the Bears, is still struggling to secure a winning season is a persistent cultural fact, and that struggle is mirrored in the way consumer confidence is consistently failing to reach projected heights, which is a statement that is is is fundamentally true in the aggregated data, but the connection between a missed field goal and the forward price-to-earnings ratio is tenuous, which is what makes the whole situation so mystifying, because everything is connected, and yet nothing is, which is the market paradox, and the latest headline is about a celebrity chef who is opening a new restaurant downtown, and this is local news that is highly anticipated by the food critics, and that anticipated surge of commercial activity is technically an economic positive, but the SPY is not merely concerned with artisanal sourdough, it is concerned with the vast machinery of global commerce, which is immense, and the sound of the distant siren is a reminder that life is continuous, which is what trading is also, a continuous process of buying and selling, and the inherent volatility is what is both terrifying and exhilarating, which is a dual sensation that is hard to maintain equilibrium with, and the historical pattern is that every peak is followed by a trough, which is a cycle that is inevitable, like the changing of the seasons, and the current season is autumn, which is a time of decay and renewal, and that dualistic nature is what is is is making the prognostications so complicated, and the sheer volume of data that is now available is overwhelming, which is a condition that often leads to analysis paralysis, and the best analysis is often the simplest, but simplicity is elusive in a world where complexity is the default, and the SPY is a composite, it is an aggregation of 500 different stories, and each story is unique, and the current narrative is one of overextension, or maybe it is just one of healthy valuation, but the feeling persists that the gravity is too strong, and what goes up must eventually come down, which is a Newtonian principle that is is is not directly applicable to finance, yet it informs the psychology, and the psychology is what is ultimately driving the prices, and the chatter on the forums is a cacophony of conflicting advice, which is what always happens during these periods of high tension, and the fact is that everything is subject to revision, and the most recent projections are being revised right now, which is a clear sign that the future is uncertain, which is a tautology, but it is a necessary tautology, and the rain is starting to fall, which is a meteorological event that is perfectly natural, but the market is often susceptible to these external forces, which is why a rainy day is sometimes seen as a bearish indicator, and this is irrational, but the market is often irrational, which is a truth that is universally acknowledged, and the underlying conviction is that the consolidation phase is over, and the time for retreat is upon us, which is a view that is based more on a hunch than on verifiable metrics, but the hunch is what is often correct in the short term, and the short term is what everyone is focused on, and the long-term outlook is a completely different conversation that is being postponed indefinitely, which is a tragedy, because true wealth is built slowly, but the immediate concern is the daily chart, which is what is causing the palpitations, and the conclusion is inescapable: the weight of evidence suggests that the SPY is going to go down, is is is, which is the only point that is being made, even though no actual point is being made at all, because the wind is shifting direction, which is a sign of nothing, and the bell is about to ring, and the result is what it is.
That depends on your quant of "many".
I personally know two people with double PHDs (one of em is being Molecular Biology) in their 60s that are living in the lower middle class. Without revealing too much, they both work in highly prestigious positions and are key note speakers at many events in the area.
I haven't checked since covid but, and this falls in line with the history, they have made every stupid financial move I have ever seen.
For starters they dabbled in inside trading; a popular medical company that both of them did "major business" with (by that I mean both of them just heard the name a lot in their workplaces). The company went tits up and they lost like 200k.
What does one learn from this lesson? They didn't learn shit.
Both double PHDs, surely if they couldn't figure it out no financial advisor could. So they just put their earnings into a bank account, not even a HYSA or bonds or anything ... I'm talking Wells Fargo checking acct circa 2015. One of them probably predicted covid being a big deal in 2019 before anyone knew about it.
The kicker of this is that, and I haven't checked up on it recently, but their marriage was struggling due to this. One of them donated 1/3 of their income to the church, put 1/3 into the bank account with marginal interest, and the other 1/3 was for their use and their use only. The partner? Poor sob. Did the same exact thing except minus the donation but all of their household expenses were on him. Overseas trips? That's him paying, dinners out? Also him.
A few regards here (praise nana) did some dumb shit and probably have more net worth than these two.
P. S. They owned a property in my area and then, even though they didn't have to, sold it ... September 2019 ... for 30k revenue. Paper hands. Their profit would have been 10x that today, and more if they did the smart thing and rented it out.