The Stock Market thread

[GrantDawg]

I find Zillow taking big losses on trying to buy up housing inventory quite amusing.

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[Ksyrup]

I wonder if anyone sold their house to Zillow for way more than they thought they otherwise could, and then bought it back at a discount when Zillow signaled it was dumping inventory.

[GrantDawg]

After Zillow also paid to update the house. That whole thing was a pretty major blunder. There still are some e-buyers that are having some success. Zillow just had a really bad algorithm problem.

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[Butter]

Zillow itself finding out what Zillow users have known for years: Zillow's market comps are fucking ridiculously out of range

[sterlingice]

Sort of. But, weren't they also buying up at 20% over cost /and/ having to fix them up?

"Our business model is to buy a house and then have to dump 30% extra into it before we sell it"
"I don't understand why we didn't make money"

Like who thought that was a good strategy. I mean, if they had been using all that data to buy seriously undervalued properties, it would have made sense. But near as I could tell, they were buying at the top of the market in a number of expensive markets and wondering why it didn't turn a profit.

SI

[Edward64]

Bought some FB to get into the Ready Player One universe. Read that Nvidia is another metaverse stock.

Who will create the OASIS? My guess is MMORPG companies will get consolidated and acquired by the bigger companies.

[NobodyHere]

This week needs to be longer. Was the market down any day this week?

[Edward64]

Nice day, nice week, nice start to Nov, and nice Oct also.

[Hammer]

Any thoughts on why Paypal has experienced tough times recently? Under valued now?

Considering Invitae and Square too. Again possibly over sold companies?

[NobodyHere]

Originally Posted by GrantDawg

DT Jalen Carter and Jordan Davis blocking on that goal-line play, and Zeus doesn't even get touched. That just seems unfair.

I just don't understand stock market lingo anymore

[GrantDawg]

Originally Posted by NobodyHere

I just don't understand stock market lingo anymore

They are, umm, blocking for Paypal...uh...I got nothing.

[Edward64]

I just bought some for my "metaverse" fun portfolio last week. I am a stock market guru!

Roblox Soars After Strong Third-Quarter Results - TheStreet

Popular video game platform Roblox (RBLX) - Get Roblox Report saw its stock soar as much as 30% in extended trading after the company released a very strong earnings report.

[NobodyHere]

So what exactly is Elon Musk doing here? He asks Twitter if he should sell some of his shares in Tesla. Twitter says yes and now Tesla is down 10% today.

[HomerSimpson98]

Elon got a big tax bill he has to pay

[albionmoonlight]

The theory I saw (which makes sense) is that Elon decided that Tesla was overvalued, so he wanted to cash out some of his shares. But if an insider cashes out shares, that looks bad for the company.

So he came up with this idea of tying his sale to the tax bill to make it look like it had nothing to do with selling high. Which is pretty creative b/c Elon is the sort of weirdo who might do something like that to make a point.

I think that the market saw through it and figured if Elon was selling shares, there was probably a reason beyond "he's a weirdo."

[sabotai]

I sold what I had in Litecoin a few days ago. You're welcome Lathum.

On the plus side, I put what I had in Litecoin into Loopring, which is up even more than Litecoin the last few days.

[Edward64]

Originally Posted by Edward64

I just bought some for my "metaverse" fun portfolio last week. I am a stock market guru!

Roblox Soars After Strong Third-Quarter Results - TheStreet

Made 30+% on Roblox in past 5 days. Wish I had bought more.

[Edward64]

Last checked zillow in early Oct.

House value has supposedly gone up about 1+%.

[Edward64]

Apple is still lagging S&P 500 in annual return but had a nice bump today. I've been slowly reducing my Apple position but may pause that now. If there is a company that can win the US drivers over Elon Musk & Tesla, its Apple.

Apple is focusing on introducing fully autonomous vehicle in about four years, which moves up its timeline, Bloomberg reports; analyst sees 60%-65% possibility of an Apple car by 2025

Assume this is just someone's rendition without much basis. Looks better than a Tesla to me

[Edward64]

Could be under the Biden thread but this one needs more loving.

Powell will be re-nominated and the markets are happy. Let's get this Christmas rally going.

EDIT: Spoke to darn soon

[Edward64]

Today really, really sucked.

Happy I'm not in transportation or hospitality stocks.

[Ksyrup]

I feel like autonomous cars are going to be great in like 50-75 years but we're going to be the guinea pigs and it's going to suck until well after my ashes are scattered. I have absolutely zero trust in cars doing the right thing, every time, and I will not give up control. Hell, I don't even like the lane assist crap because I don't trust it will keep me in the lane, so I grab the wheel anyways (I don't own a car with that technology, but I've driven my parents' car that does).

I don't want that technology and I will keep refusing to buy it until I have to buy it with the other features I want.

[NobodyHere]

Originally Posted by Edward64

Today really, really sucked.

Happy I'm not in transportation or hospitality stocks.

I probably threw the last of my savings into the market tonight and hit my yearly savings goal. If I throw anything else in it will be play money to maybe get into individual stocks or crypto.

[Edward64]

Originally Posted by Ksyrup

I feel like autonomous cars are going to be great in like 50-75 years but we're going to be the guinea pigs and it's going to suck until well after my ashes are scattered. I have absolutely zero trust in cars doing the right thing, every time, and I will not give up control. Hell, I don't even like the lane assist crap because I don't trust it will keep me in the lane, so I grab the wheel anyways (I don't own a car with that technology, but I've driven my parents' car that does).

I don't want that technology and I will keep refusing to buy it until I have to buy it with the other features I want.

I really, really hope I can buy a self-driving car in the next 10 years. I really don't want to drive much when I'm older.

With that said, most people think Tesla is ahead but what I've read is their software isn't that great. the good news is you also have Google and China (yeah I know) so lots of good competition.

[Edward64]

Originally Posted by NobodyHere

I probably threw the last of my savings into the market tonight and hit my yearly savings goal. If I throw anything else in it will be play money to maybe get into individual stocks or crypto.

Consistently saving & investing is what I would tell my younger self so great work on hitting your savings goal.

Consider metaverse stocks for longer term returns. Common consensus is MSFT, RBLX, NVDA or just invest in META ETF.

(FB is still tbd in my mind. They may have the vision but unconvinced they can execute to realization)

[Drake]

Originally Posted by Ksyrup

I don't want that technology and I will keep refusing to buy it until I have to buy it with the other features I want.

I don't even like cars that shut off the engine at stoplights. Every time I drive one, it gives me a thrill of panic...because my life experience has taught me that when your car dies at a stoplight, you're about to have a bad day.

Welcome to being old.

[JonInMiddleGA]

Originally Posted by Drake

I don't even like cars that shut off the engine at stoplights.

Don't "like"?

How about properly fucking HATE?

Whatever inbred sack of rat turds came up with that idiotic notion ought to be boiled in antifreeze.

[Edward64]

Market is going downhill and Apple is up +2.3%.

I do agree we need to taper off. But did he have to say it in such strong words right now?

Losses for U.S. stocks deepened late-morning Tuesday after Powell told Senate lawmakers it would be appropriate for central-bank policy makers to consider speeding up the wind-down of the central bank's monthly asset purchases when the meet next month. Stock benchmarks were already under renewed pressure after Moderna Inc.'s MRNA, -4.59% chief executive officer predicted that current vaccines would be less effective against the new omicron variant of the coronavirus that causes COVID-19.

[sabotai]

As someone who once owned a car that would occasionally stall when at a traffic light or stop sign (being on a slight incline seemed to cause problems), I can't hep but get a mini-panic attack every time I'm in a car and I feel the engine "turn off" when it's stopped.

[Edward64]

Good to be defining terms and this is as good of a time to redefine it (he can blame it on continued unknowns about Covid, the continued impact to global supply chains etc.). He seems to be saying inflation may stop but not that prices will go back to a year before. (I would think he was asked the question "does Infrastructure/BBB bill help reduce inflation" but did not see any of that in MSM).

TBH when I think of transitory, I think of inflation going back to (near) where it was and think he's just improvising.

Surprisingly, the futures market show strong positive.

Powell says time to retire 'transitory' when talking about inflation---and stock markets tank - MarketWatch

Happy retirement, “transitory.”

As if it weren’t hard enough for the Federal Reserve to achieve its key mandate of full employment, now, it’s retiring the word “transitory“; even as members of the central bank struggle to achieve its second objective: price stability.

In testimony in front of the Senate Banking Committee, Powell declared it high time to retire the word “transitory,” which has become a vexation for the U.S. central banker and a inscrutable piece of Jabberwocky to those watching inflation touch a roughly three-decade high.

“We tend to use [ transitory] to mean that it won’t leave a permanent mark in the form of higher inflation,” Powell told Senate lawmakers on Tuesday. “I think it’s probably a good time to retire that word and try to explain more clearly what we mean.”

So what, what I mean by “transitory” is just something that doesn’t leave a permanent mark on the inflation process. Again, we don’t mean—I don’t mean that, that, that, that, you know, producers are going to take those price increases back. That’s, that’s not the idea. It’s just that they won’t go on indefinitely. So to the extent people are, are, are implementing price increases because raw materials are going up or labor costs or something’s going up, you know, the question, really, for inflation really is, does that mean they’re going to go up the next year by the same amount? So you’re going to be in a process where inflation, the inflation process, gets going. And, and that happens because people’s expectations about future inflation move up. And we don’t think that’s happening.

[albionmoonlight]

I think that the prices we have are here to stay.

Isn't deflation a bad thing anyway? When prices start to notably decline on things like cars, etc. then people rationally wait to buy them hoping for further decreases, which leads to economic slowdowns, etc.

[Edward64]

Originally Posted by albionmoonlight

I think that the prices we have are here to stay.

Isn't deflation a bad thing anyway? When prices start to notably decline on things like cars, etc. then people rationally wait to buy them hoping for further decreases, which leads to economic slowdowns, etc.

I sure hope not, just bought a weber earlier this year and I've read ribeye's were a lot cheaper pre-Covid. And if inflation continues to increase, it'll be bad for Biden.

Not a macro economics buy but here's what I googled. Basically, I read it as generally okay if not too fast, too soon, too drastic, too etc. The inflation was fueled primarily (I think) by Covid, so I would think after new normal, that deflation would occur to a certain extent (but maybe not back to before).

Why Is Deflation Bad for the Economy?

This general decrease in prices is a good thing because it gives consumers greater purchasing power. To some degree, moderate drops in certain products, such as food or energy, even have some positive effect on increasing nominal consumer spending. Beyond these basic staples, a general, persistent fall in all prices not only allows people to consume more but can promote economic growth and stability by enhancing the function of money as a store of value and encouraging real saving.

However, under certain circumstances rapid deflation can be associated with a short term contraction of economic activity. In general this can occur when an economy is heavily laden with debt and dependent on the continuous expansion of the supply of credit to inflate asset prices by financing speculative investment, and subsequently when the volume of credit contracts, asset prices fall, and speculative over-investments are liquidated. This process is sometimes known as debt deflation. Otherwise, deflation is normally a positive feature of a healthy, growing economy that reflects technological progress, increasing abundance, and rising standards of living.

A little bit of deflation is a product of, and good for, economic growth. But, in the case of an economy-wide, central bank fueled debt bubble followed by debt deflation when the bubble bursts, rapidly falling prices can go hand-in-hand with financial crisis and recession. Thankfully, the period of debt deflation and recession that follows is temporary, and can be avoided entirely if the perennial temptation to inflate the supply of money and credit in the first place can be resisted.

All in all, it is not deflation, but the inflationary period that then leads to debt deflation that is dangerous for a country's economy. Perhaps unfortunately, consistent and repeated inflation of these kind of debt bubbles by central banks has become the norm over the past century or so. At the end of the day this means that while these policies persist, deflation will continue to be associated with the damage they cause to the economy.

[Edward64]

Wed stock market gyrations were crazy. Started the morning great with strong gains and then fell with big losses.

I read this was supposedly because of the first omicron patient identified in the US but who wasn't expecting that news sometime soon anyway.

[NobodyHere]

Originally Posted by Edward64

Wed stock market gyrations were crazy. Started the morning great with strong gains and then fell with big losses.

I read this was supposedly because of the first omicron patient identified in the US but who wasn't expecting that news sometime soon anyway.

Yeah, the SP500 was up over 80 at one point and ended at -50.

I really need to stop watching the ticker at work.

[albionmoonlight]

Originally Posted by Edward64

I read this was supposedly because of the first omicron patient identified in the US but who wasn't expecting that news sometime soon anyway.

By the time a variant is identified, it's already been around the world for a couple of weeks. I agree that it is strange that the markets have not figured that out.

[sterlingice]

Originally Posted by albionmoonlight

By the time a variant is identified, it's already been around the world for a couple of weeks. I agree that it is strange that the markets have not figured that out.

It feels like the markets are just looking for any excuse to panic. But what's really "behind" it all is that the Feds have said they want to stop giving away free money and the market's like "if you do that, I'm going to crash - just remember".

SI

[Brian Swartz]

Originally Posted by Edward64

I sure hope not, just bought a weber earlier this year and I've read ribeye's were a lot cheaper pre-Covid. And if inflation continues to increase, it'll be bad for Biden.

The best hope we have is for inflation to slow down, not for prices to go back to where they were. The latter rarely happens.

[Edward64]

Really looking forward to this. I don't know how the technology will work, do I really want all that "wireless thingy" so close to my brain all the time etc. but see this as a good first step.

Nirvana would be an AR bi-focal/progressive lens. Early step into "Ready Player One" and the metaverse.

Access to this page has been denied.

Apple stock analyst Ming-Chi Kuo of TF International Securities predicted in a Nov. 25 note to clients that Apple will launch AR glasses in late 2022. Augmented reality glasses overlay digital images and information into a wearer's field of vision. Applications for AR technology include navigation, education, games, commerce and more.

[flere-imsaho]

Two thoughts:

1. Google glass was... not super successful.

2. If glasses & AR is the way, per the title of the thread, time to buy stock in companies that make motion sickness medication.

[Lathum]

Originally Posted by flere-imsaho

Two thoughts:

1. Google glass was... not super successful.

2. If glasses & AR is the way, per the title of the thread, time to buy stock in companies that make motion sickness medication.

whoa- welcome back!

[flere-imsaho]

Thank you. What did I miss?

[sterlingice]

Originally Posted by flere-imsaho

Thank you. What did I miss?

I think we're going to need a diagram for where you've been

SI

[flere-imsaho]

I'm not sure it can be accurately summarized in a diagram, but maybe I'll give it a go sometime.

[cuervo72]

!

[lungs]

I’ll take a diagram on how much money Cathie Wood will cost me.

Maybe I’ll dump it all for Trump’s SPAC. Or withdraw it and wipe my anus with it.

(It’s not a lot of money, don’t worry)

[Edward64]

Originally Posted by lungs

I’ll take a diagram on how much money Cathie Wood will cost me.

Maybe I’ll dump it all for Trump’s SPAC. Or withdraw it and wipe my anus with it.

(It’s not a lot of money, don’t worry)

From hero to zero in approx a year.

Fugly day. Fugly week.

Bad jobless report, omicon threat, inflation no longer transitory, supply chain issues ... the hits keep on coming for Biden (and Cathie).

[Edward64]

Sounds interesting. Not sure it'll work anytime soon. I'll pass on my metaverse portfolio especially with my Bumble experience ... glad I got out, it's less than half its IPO right now.

Dating in the metaverse? Tinder's CEO expresses interest in entering the virtual reality world | Euronews

Asked about the company's plans around dating in the metaverse, Nyborg said: "From a Tinder perspective, we've been talking about a Tinderverse internally, which is more about blurring the boundaries between offline and online."

The metaverse broadly refers to the idea of shared virtual spaces that people can access through different devices and where they can move through digital environments. These spaces may use virtual reality (VR) or augmented reality (AR).

[Edward64]

Nice, nice, sweet day.

Enjoy it while you can because there may still be more omi angst. Small sample size and not yet peer reviewed.

https://www.cnbc.com/2021/12/07/omic...ecipients.html

South African scientists say the omicron Covid variant significantly reduces antibodies generated by Pfizer and BioNTech’s vaccine, although people who have recovered from the virus and received a booster shot will likely have more protection from severe disease, according to a small preliminary study released Tuesday.

Prof. Alex Sigal with the Africa Health Research Institute and a team of scientists tested blood samples of 12 people who’d previously been vaccinated with the Pfizer/BioNTech vaccine, looking specifically at how well antibodies generated by the vaccine can neutralize the new variant – meaning block its ability to infect cells.

They found a 41-fold in drop in the ability of their antibodies to neutralize the omicron variant compared to the original virus, a dramatic reduction from its performance against the original ancestral strain as well as other variants, according to a preprint of the study that hasn’t yet been peer reviewed.

[Edward64]

Funny how Fed announces tapering and rate hikes, and stock market goes up nicely. I was expecting the reverse. Probably also the market was looking for any excuse to go back up after several days of ugghh.

Not going to complain, and that's why you should take any investment advice from me with caution.

[Arles]

Looks like it was a lot of shorts covering. The playbook seems to be:

1. Market sells off after hours - we have a green day
2. Market goes up after hours - it sells off quickly the next day