91–98 of 98 posts
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I don't think most people signed up for it by just having some money in their pension funds.
They literally did. Investing in a broad market index means you want to own everything because you can't pick winners. You just imagine you can pick for no good reason.
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A few Chinese companies build both batteries and cars faster and more cost effectively than anyone else including Tesla though.
something is going on with those Chinese companies if the equivalent Toyota costs twice as much to produce. It could be close-to-free labor, subsidies, or a myriad other things... but it's something.
Some links:
https://x.com/maxiaoalex/status/2062910018840854722
But mostly this one:
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They literally did. Investing in a broad market index means you want to own everything because you can't pick winners. You just imagine you can pick for no good reason.
Pension funds are forbidden from picking winners and are required to buy into these indexes though. At best you can choose which index.
If you elect "total market index" then you want to own SPCX.
Open a brokerage account and pay taxes if you want something more specific.
If you want your 401k to have an "I hate Elon plan" then what point are you making?
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I don't get the complaint about Tesla. It's profitable, has little debt and 40 billion in the bank. What sort of "Power over the behavior of the market" do they exert? Like they can force people to buy their cars. Space X has the most sophisticated vehicle ever created by man. Dicks does not. If you are only looking at revenue then sure, but that would be silly, you have to look at what the potential in a company is…
Did their potential go up or down when their CEO started heiling?
Tesla itself still has the best selling car so I don’t think their potential was hurt much. People who hated him irrationally before hate him irrationally now
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Pension funds are forbidden from picking winners and are required to buy into these indexes though. At best you can choose which index.
Yes. If you want to avoid paying taxes, ERISA says plan administrators must act as fiduciaries and provide options across risk/reward spectrum. If you elect "total market index" then you want to own SPCX. Open a brokerage account and pay taxes if you want something more specific. If you want your 401k to have an "I hate Elon plan" then what point are you making?
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The plan is simply for insiders to offload their bags (overvalued shares) to retail investors, like the folk who frequent the wallstreetbets subreddit and do all their “investing” on Robinhood. This speaks to the larger trend of the lower and middle class apparently giving up on any plans to retire- and it’s understandable as the federal minimum wage has never been so disconnected from the cost of living, plus inflat…
Most if not all brokerages allow you to do that. I just opened up my fidelity and etrade to check. That doesn't make it right perse, but your moralisation at the end becomes more weak. Robinhood is only as "truly vile" as all of wall street. And anyway, options can play a decent role in financial strategy, most retailers don't use these instruments appropriately. To quote The Big Short, "this is wall street dr bury,…
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Agreed. More importantly, this long documented history of massive recurring multi-billion dollar fraud and theft – mostly from domestic and international retirement funds – indicates that America is essentially, for all intents and purposes, a plutocratic dictatorship with the illusion of democracy. Ticking a box every few years, when all your options are pre-positioned to continue a criminal status-quo, is neither "…
apologies, not putting it directly at you I've always thought americans had an amendment specifically for situations when voting does not work I think it's a great illustration of complicated cybernetics at work, i.e. its not enough to give people the right to enact change and own the instruments for it: homeostatic forces will preserve status quo no matter how many firearms are circulating. Can't really think of a c…
I think not many people realize that if the American Revolution was unsuccessful, the founding fathers would have been hanged for treason. It’s nice to have that given to us as a “right”, but with no means to enforce that right it may as well not exist at all. As time goes on I become more and more convinced that the founding fathers were exactly like Elon Musk- greedy, selfish, and out to brainwash the populace into doing their bidding. Many were wealthy slave owners, after all.
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The plan is simply for insiders to offload their bags (overvalued shares) to retail investors, like the folk who frequent the wallstreetbets subreddit and do all their “investing” on Robinhood. This speaks to the larger trend of the lower and middle class apparently giving up on any plans to retire- and it’s understandable as the federal minimum wage has never been so disconnected from the cost of living, plus inflat…
Options is gambling only for the vast majority who're inexperienced with them or don't have a sound theory for them. I can trade them in my setup with over a 95% success rate, perhaps even 99%. Of course I am not going to type out my theory here. Such an overgeneralization ruined your otherwise reasonable comment. Always stop when you are winning.