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[sdrealtor]

It looks like the tech wreck will continue. Robinhood has disappointing earnings

[Coronita]

[quote=sdrealtor]It looks like the tech wreck will continue. Robinhood has disappointing earnings[/quote]

Nah, some winners and losers..

But did we decide if Robinhood is tech or not yet?

But anyway, take a look at Robinhood’s more established competitors.

They are doing just fine.
https://finance.yahoo.com/quote/RJF?p=RJF

Robinhood’s decline shouldn’t be surprising. I mean, when you bank your business on a bunch of MEME gamblers that really don’t understand how to make a safe and stable financial plan who bought into this get rich quick MEME, crypto, NFT thing…what do you think will happen? That’s not to say people haven’t made money in MEME, crypto and NFT…But the majority of the people are sheep and got in too late and missed out on another opportunity of a life time….

[Anonymous]

[quote=Coronita][quote=sdrealtor]It looks like the tech wreck will continue. Robinhood has disappointing earnings[/quote]

Nah, some winners and losers..

But did we decide if Robinhood is tech or not yet?

But anyway, take a look at Robinhood’s more established competitors.

They are doing just fine.
https://finance.yahoo.com/quote/RJF?p=RJF

Robinhood’s decline shouldn’t be surprising. I mean, when you bank your business on a bunch of MEME gamblers that really don’t understand how to make a safe and stable financial plan who bought into this get rich quick MEME, crypto, NFT thing…what do you think will happen? That’s not to say people haven’t made money in MEME, crypto and NFT…But the majority of the people are sheep and got in too late and missed out on another opportunity of a life time….[/quote]

Yes Robinhood’s decline was predictable as most trendy, one trick pony stocks. But the recent bull market in growth stocks was fueled by countless companies just like this, which is why it feels like 1999.

But moving to the “bellweather” tech stocks, Amazon now shitting the bed, and even Apple not reporting great earnings. All FAANG stocks are now sitting near or below 52 week lows and half of them well below Pre-covid highs too. This is getting ugly.

[Anonymous]

[quote=sdrealtor][quote=deadzone][quote=an][quote=deadzone]Who said I’m looking to buy a house?
I just want to see asset prices return to their organic, free market, not Fed induced bubble prices. That will be better for society in general. Perhaps there will be some pain along the way but so be it.[/quote]
I’m confused, if you are not looking to buy, then why do you wish pain on people? That’s pretty evil. I thought at least the evilness stems from personal gain (ability and opportunity to finally buy a house). However, if it’s not for personal gain, then it’s just pure evil to enjoying seeing pain and cheerleading for the pain.[/quote]

Why do you believe rooting for lower housing prices is wishing pain on others? Do you not believe lower, more affordable housing is a good thing for society? I only wish pain on greedy investors and others who engaged in risky, leveraged behavior, the ones responsible for this current asset bubble. Clearly you are one of those investors so your definition of “pain on others” is quite biased.[/quote]

Yet another pathetic lie! I am neither a greedy investor nor engaged in risky behavior and I actively discoiuraged risky behavior but you wished pain on me. Where is the love?[/quote]

I know you are not one of the greedy investors nor responsible for this mess. I just wish pain on you because you are a douche (just kidding I don’t wish pain and suffering for you or anyone on piggington, but you are a douche!).

And I never once claimed you were one of these greedy investors. But you sure like to defend them and you sure get butt hurt when I talk about market crashes. If you are sitting in such a great position, why does that bother you? What do you care if home prices go down 40%?

If you were really a RE agent, you should want more inventory and more selling, at any price. The current mess of a situation is bad for the vast majority of the people and certainly horrible for the RE agents business.

[Anonymous]

Meanwhile on the RE stock front, Zillow and Redfin continue to drop like anvils. Redfin looks like it set all time low today, below the Covid LOW, very bad indicator for housing market.

[Coronita]

[quote=deadzone]
Yes Robinhood’s decline was predictable as most trendy, one trick pony stocks. But the recent bull market in growth stocks was fueled by countless companies just like this, which is why it feels like 1999.

But moving to the “bellweather” tech stocks, Amazon now shitting the bed, and even Apple not reporting great earnings. All FAANG stocks are now sitting near or below 52 week lows and half of them well below Pre-covid highs too. This is getting ugly.[/quote]

Yes, but DZ, it was asinine for you to call Robinhood a tech stock and once again shows how little you understand things

also, you’re selectively cherry picking some of these earnings report say. apple did great given that they are supply chain constrained. They couldn’t meet demand dude to supply chain issues and their forecast was reduced for the same reason. Seriously dude, you got some major comprehension issues first calling Robinhood a tech company and glossing over supply chain issues.

You’re just out here swinging because you’re mad and have an axe to grind. You seem like you are desperate to prove how smart and right you are, despite over and over again missing the boat. like you said, you’ve been around since 2000ish working, which means your not exactly a spring chicken. That’s over 20+ years of corrections that has happened, and it doesn’t seem like you were able to take significant advantage of any of them, financially. Whether it was stocks or housing or both. And you’re hell bent on wishing financial pain on the 3 of us that won’t even happen to your disappointment. There no house to be lost, there’s very to little debt, and, rental shortages are still a major problem (you see the UCSD student protect recently that blocked traffic in UTC protesting housing ???)…Don’t worry about is, were doing fine. Worry about yourself because, dude financial pain had far more fell on your lap for the past 20 years with your do nothing approach…tossing $2000+ month and more on housing to a landlord and still thinking your going to come out ahead in housing by waiting for the right correction. $2000*20*12, most likely more…. Your housing cost basis is already going to be higher than anyone else starting out right now for the very reason that again you’re no spring chicken…20+ years this way. you missed the boat…completely….even the most Uber bears and old timers that called the bubble jumped into housing over the last 20 years. (name one person here for 15-20 years still looking for the housing bottom?)

At this point, taking out a 30 year fixed loan almost doesn’t make sense. You’ll be well past being on social security and Medicare and wearing Depends diapers by then, just like me. I’m surprised banks haven’t considered that too in their underwriting guidelines. I wouldn’t loan a 30 year to myself at this point , lol. I’m kidding…sort of …..

[Anonymous]

It was also asinine of you to compare Robinhood to Schwabb or Ameritrade. Those brokers have physical offices I can visit, all over the country. Robinhood only exists in a smartphone app.

[Anonymous]

And talk about axe to grind, here you go attacking me again just for reporting the reality of the situation. Just like SDR. Just because you own a bunch of real estate it turned you into a dick. Hey stop shooting the messenger. At least with tech stocks tanking, there is no reason you can’t sell whenever you want.

When did I ever say I wished financial pain on you? To the contrary, I am trying to help you guys by alerting you to get out of tech and real estate stocks. Just because you don’t like the message you attack me, stop being a dick!

[sdrealtor]

[quote=deadzone][quote=sdrealtor][quote=deadzone][quote=an][quote=deadzone]Who said I’m looking to buy a house?
I just want to see asset prices return to their organic, free market, not Fed induced bubble prices. That will be better for society in general. Perhaps there will be some pain along the way but so be it.[/quote]
I’m confused, if you are not looking to buy, then why do you wish pain on people? That’s pretty evil. I thought at least the evilness stems from personal gain (ability and opportunity to finally buy a house). However, if it’s not for personal gain, then it’s just pure evil to enjoying seeing pain and cheerleading for the pain.[/quote]

Why do you believe rooting for lower housing prices is wishing pain on others? Do you not believe lower, more affordable housing is a good thing for society? I only wish pain on greedy investors and others who engaged in risky, leveraged behavior, the ones responsible for this current asset bubble. Clearly you are one of those investors so your definition of “pain on others” is quite biased.[/quote]

Yet another pathetic lie! I am neither a greedy investor nor engaged in risky behavior and I actively discoiuraged risky behavior but you wished pain on me. Where is the love?[/quote]

I know you are not one of the greedy investors nor responsible for this mess. I just wish pain on you because you are a douche (just kidding I don’t wish pain and suffering for you or anyone on piggington, but you are a douche!).

And I never once claimed you were one of these greedy investors. But you sure like to defend them and you sure get butt hurt when I talk about market crashes. If you are sitting in such a great position, why does that bother you? What do you care if home prices go down 40%?

If you were really a RE agent, you should want more inventory and more selling, at any price. The current mess of a situation is bad for the vast majority of the people and certainly horrible for the RE agents business.[/quote]

I don’t control the market nor do I want to change the market. It is what it is and I just do my best to guide myself and clients through it

You keep saying it’s bad for the vast majority but ignore when I say nearly 70% of the country are homeowners. That’s the vast majority. Math is math

[sdrealtor]

[quote=deadzone]And talk about axe to grind, here you go attacking me again just for reporting the reality of the situation. Just like SDR. Just because you own a bunch of real estate it turned you into a dick. Hey stop shooting the messenger. At least with tech stocks tanking, there is no reason you can’t sell whenever you want.

When did I ever say I wished financial pain on you? To the contrary, I am trying to help you guys by alerting you to get out of tech and real estate stocks. Just because you don’t like the message you attack me, stop being a dick![/quote]

Call us what you want but you are a coward. You had one job and you failed. I’m at the point where the base of my financial pyramid is set. I can play with some fun money and invest in risky things but I’m mostly conservative. I took the chances when I was in my 30s and 40s and could comeback from mistakes. I’m well past my peak earning years and just enjoying the fruits of my labor. You were too scared to take any risks. You believed you could out think the market rather than making moves that made financial sense a decade ago.

Tell me I’m wrong? Tell me you wouldn’t buy a house 10 years ago if you could go back in time. You failed and stop blaming us. You thought you were smarter and you were too scared

Ok your turn to go on the attack for me reporting the reality of the situation

[Coronita]

[quote=deadzone]And talk about axe to grind, here you go attacking me again just for reporting the reality of the situation. Just like SDR. Just because you own a bunch of real estate it turned you into a dick. Hey stop shooting the messenger. At least with tech stocks tanking, there is no reason you can’t sell whenever you want.

When did I ever say I wished financial pain on you? To the contrary, I am trying to help you guys by alerting you to get out of tech and real estate stocks. Just because you don’t like the message you attack me, stop being a dick![/quote]

DZ, you aren’t just reporting “information” you’re reposting single news articles and the generalizing to things that don’t make sense. For instance calling Robinhood a tech company, and other things that you’ve posted that don’t make sense. If you’re going to get butt hurt from being called out some of these things, that’s on you.

As for the more personal responses, I’m simply responding to you first turning this personal on wishing bad on the three of us or anyone else for that matter that didn’t sit on their asses for the past 20 year years waiting for another downturn after missing the couple of 2-3 that already happened…I’m just pointing out your obsession to seeing those people undergo financial pain to the extent you hope you’ll some how catch up..

And i say this with no anger or spite (because I’m pretty confident and happy as I am and truly wish the best for you)… simply put…. your wish of seeing others go down and you go up, isn’t going to happen….Maybe I should have just been more blunt in the first place and used fewer words instead of trying to be slightly more diplomatic, but the blunt version is… lots of people didn’t sit on our ass for the past 20 year, and because of that, these people have a much larger financial cushion.

We don’t need your warnings because we’re doing fine, well, probably better than fine. But we also know you really aren’t warning us. You’re looking for validation for your own decisions. And in the bare minimum if you at least admit that, it might make you at least seem slightly more credible instead of hiding in the pretense of offering “advice”….For one thing, if you believe any of us are significantly concentrated in tech, that also goes to show your limited understanding of financial planning for the long term. I’d be surprised if anyone here is camped out in more than 10-15% in tech…lol

But since we are all here giving each other advice, I might as well stretch and give you advice too. Since you’ve already missed the boat, for you it doesn’t make sense to consider home ownership in the forseeable future because, in your case if things go sour, you don’t have much time left to recover so you might as well sit it out. It’s a different game versus someone in their late 20ies or early 30ies starting out with 30-40+ years left of high earning potential and can carry a 30 year loan with no problem. you’re also getting pretty close, if not already exceeded, the peak of your career as a worker and since you derive most of your agi from your wage, as I stated, like me, you are no spring chicken that is just starting out in your career that is easily employable elsewhere if something were to happen. Since you’re already accustomed to $2000/month *12 months * 20 years, you might as well continue this trajectory if we enter uncertain times.

[Anonymous]

Verisign crashing below pre-covid levels. Is that company “techie” enough for you FLU?

There you guys go attacking me again for not investing my money in real estate. I am wealthy and have zero debt of any kind. Those who purchase real estate or other overinflated assets at bubble prices chose to take risky behavior. Just like 2008, they will get hammered, as they deserve to. But don’t worry, not everyone will actually be suffering, like you claim. So what if they lose their house? Just stop paying the mortgage for a couple years and live rent free. That playbook was proven effective during the last crash so that will be used again.

As for you guys, yes it will be satisfying to see you lose 30-40% of your wealth, but it won’t cause any suffering. You are wealthy and will still be wealthy after the crash. Doesn’t really matter does it? Is this really a competition for who can die with the most money?

[sdrealtor]

Coward

[Anonymous]

[quote=sdrealtor]Coward[/quote]

Douchebag

[Coronita]

Sorry SDR. I should have warned you today would be quintuple witching day today. It’s the day when my salary paycheck, and 4 rent checks all come at the same day. Usually, the market declines by the same amount as my gross rent receipts, lol.

But I’m doing better than I normally do on quintuple witching day. I’m not down anywhere near $11,500 today, lol.

[Author]

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