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Ask HN: Are we in tech-stock bubble?

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Re: Ask HN: Are we in tech-stock bubble?

#11

Post by winslow »

ConcreteGidget wrote: post #7
seibelj wrote: post #5

Every single person has no simple way to save money anymore. Savings accounts, CDs, and money markets - even high-yield online ones like Ally and Goldman Sachs - pay zero interest or close to it. Simultaneously the government has printed an absolutely incredible amount of money this year that has almost exclusively gone to the wealthy. This is because the fed is buying treasuries / corporate junk bonds and backstoppi…

Its pretty crazy how no one is talking about how only 18% of the stimulus bill is going to individuals. I'm by no means rich but I made 80k passively this year so I don't know which side of the wealth transfer I'm on.

If you don't mind me asking, how'd you make 80k passively? Investments, properties, or a "passive" sass/tech product?

Re: Ask HN: Are we in tech-stock bubble?

#12

Post by ConcreteGidget »

winslow wrote: post #11
ConcreteGidget wrote: post #7

Earlier quoted context omitted.

Its pretty crazy how no one is talking about how only 18% of the stimulus bill is going to individuals. I'm by no means rich but I made 80k passively this year so I don't know which side of the wealth transfer I'm on.

If you don't mind me asking, how'd you make 80k passively? Investments, properties, or a "passive" sass/tech product?

Stock market. Coronavirus was financially beneficial for the corporate portion of the upper middle class.

Re: Ask HN: Are we in tech-stock bubble?

#13

Post by seibelj »

jokethrowaway wrote: post #8
seibelj wrote: post #5

Every single person has no simple way to save money anymore. Savings accounts, CDs, and money markets - even high-yield online ones like Ally and Goldman Sachs - pay zero interest or close to it. Simultaneously the government has printed an absolutely incredible amount of money this year that has almost exclusively gone to the wealthy. This is because the fed is buying treasuries / corporate junk bonds and backstoppi…

What do you think it's going to happen to real estate? I'm a bit reluctant to invest in this market. The situation you described has the potential to wipe off quite a lot of money there as well.

Just find things the government can’t print more of, are desirable to a broad portion of the population, and are resistant to rapid increases in supply in response to demand. Gold, silver, bitcoin, land in desirable places. I also have the normal index funds and certain hand-picked stocks. One issue with stocks is companies can offer more of them in response to demand, unlike land or bitcoin.

We are in a period of rapid inflation but mainstream economists and the government pretend we aren’t. It has been going on for decades but the official inflation rate is supposedly sub-2% while healthcare, education, daycare, high-quality food, housing, and all manner of highly-desirable-yet-cannot-be-easily-created assets have gone way up in price and are unreachable to even the middle class let alone the poor.

Yet many applaud the “heroic” actions of the central banks and government when all they are doing is printing ever more money and patting themselves on the back. We as individuals need to act in our own best interests to avoid this disaster because no one is going to help us.

Re: Ask HN: Are we in tech-stock bubble?

#14

Post by maxharris »

TSLA? Entirely justified. I think we're headed to $4400/share by 2024. (See Cathie Wood's "golden goose" bull case for details.)

I laid out my reasoning for getting in back in May 2020. I raised my position to 86% a month after writing this: https://news.ycombinator.com/item?id=22970810

Re: Ask HN: Are we in tech-stock bubble?

#15

Post by chii »

ConcreteGidget wrote: post #12
winslow wrote: post #11

Earlier quoted context omitted.

If you don't mind me asking, how'd you make 80k passively? Investments, properties, or a "passive" sass/tech product?

Stock market. Coronavirus was financially beneficial for the corporate portion of the upper middle class.

or the value of the dollar has dropped, which makes demand for equities higher (causing their price to rise).

You didn't create more wealth - the equities didn't become more productive (cept may be the tech companies did more this year and thus have a deserved rise in price).

Re: Ask HN: Are we in tech-stock bubble?

#16

Post by seibelj »

cwwc wrote: post #10
ConcreteGidget wrote: post #7

Earlier quoted context omitted.

Its pretty crazy how no one is talking about how only 18% of the stimulus bill is going to individuals. I'm by no means rich but I made 80k passively this year so I don't know which side of the wealth transfer I'm on.

It’s odd how it seems the US is capitalist on the way up, and socialist on the way down (for big co’s and industries - airlines, banks, ect). Good for equity investors. But - Individuals? We’re on our own. A bit crony, in my mind.

True capitalists do not applaud the crony capitalism common throughout the entire world. Japan’s government now owns sizable percentages or even outright majorities of all major corporations. The endless appetite for debt-fueled stimulus has led to crazy malinvestment that will be an extremely difficult pill to swallow when the bill finally comes due.

Why even tax us anymore? If it’s so easy to print new money just sum all the money necessary for the budget and print it fresh. Basically the same thing at this point.

Re: Ask HN: Are we in tech-stock bubble?

#17

Post by xenihn »

seibelj wrote: post #5

Every single person has no simple way to save money anymore. Savings accounts, CDs, and money markets - even high-yield online ones like Ally and Goldman Sachs - pay zero interest or close to it. Simultaneously the government has printed an absolutely incredible amount of money this year that has almost exclusively gone to the wealthy. This is because the fed is buying treasuries / corporate junk bonds and backstoppi…

>What this means is scarce financial assets are going to go up, and up, and up

Until they don't...The exuberance I'm seeing lately scares the shit out of me. This is going to be a horrific crash when it comes.

Re: Ask HN: Are we in tech-stock bubble?

#19

Post by rainyMammoth »

maxharris wrote: post #14

TSLA? Entirely justified. I think we're headed to $4400/share by 2024. (See Cathie Wood's "golden goose" bull case for details.) I laid out my reasoning for getting in back in May 2020. I raised my position to 86% a month after writing this: https://news.ycombinator.com/item?id=22970810

At this point, pretending that TSLA has anything to do with the company Tesla is grotesque. I applause the length to which you go to justify yourself.

TSLA is a meme stock that operates on a narrative that "TSLA always goes up". It's pure speculation and that bubble is going to pop very badly. And it might take the whole economy with it now that it is in the SP500 with a ridiculous valuation.

Re: Ask HN: Are we in tech-stock bubble?

#20

Post by wtznc »

xenihn wrote: post #17
seibelj wrote: post #5

Every single person has no simple way to save money anymore. Savings accounts, CDs, and money markets - even high-yield online ones like Ally and Goldman Sachs - pay zero interest or close to it. Simultaneously the government has printed an absolutely incredible amount of money this year that has almost exclusively gone to the wealthy. This is because the fed is buying treasuries / corporate junk bonds and backstoppi…

>What this means is scarce financial assets are going to go up, and up, and up Until they don't...The exuberance I'm seeing lately scares the shit out of me. This is going to be a horrific crash when it comes.

Same feelings here...
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