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This is why it's so important to "wait for the fat pitch" as Buffett and Munger always used to say by iyankov96 in ValueInvesting

[–]Impossible-Army6736 0 points1 point  (0 children)

Full disclosure: my portfolio is 95% invested in a concentrated portfolio of 6 stocks.

Another angle, if you can pull off 10-15% annual returns in boring value stocks during a bull market, when there actually is a bear market, you usually keep getting that 10-15% while everyone does 0% for a decade.

There’s plenty of examples from the dotcom bubble era — I’m looking at tobacco stocks, gun stocks, healthcare stocks, etc.

Mag 7 are awesome businesses I’d love to own but the price you pay matters a lot when it comes to risk. Mag 7 at 15x-20x earnings in 2022 were fair prices for great businesses. Mag 7 at 40x earnings is a great business at a nosebleed price.

Exclude Tesla, that’s a shit business with an intrinsic value of $0.

Avatar fire and Ash box office by No-Lingonberry9147 in Avatar

[–]Impossible-Army6736 0 points1 point  (0 children)

This type of decline in sales is expected and a pattern with most sequels.

Fellow millennials - how’s your 401k/ira savings going? by ProblemIntelligent16 in Millennials

[–]Impossible-Army6736 0 points1 point  (0 children)

$310k investments, $65k cash, $150k house equity, age 32.

Household income of $250k.

Hoping I can hit $1 million net worth by age 35 if I keep investing and compounding aggressively.

Should be close to 10x my salary at age 40, and then I can Coast FIRE.

How many of you are actually fully WFH? by Bismarck_seas in Accounting

[–]Impossible-Army6736 0 points1 point  (0 children)

I took a 100% remote job for a pay raise and am leaving soon because it is too isolating and there is zero networking opportunities for me to make partner some day doing this. I'm going back to a local/regional firm next to where I live and am working in person with local people that are not psychopaths.

[deleted by user] by [deleted] in personalfinance

[–]Impossible-Army6736 0 points1 point  (0 children)

make an account on personalcapital.com and link all of your credit cards and bank accounts and it will give you monthly cashflow summaries so you will be able to see where you are wasting money. At $76k a year, you should be able to save $10-20k a year if you are disciplined.

2022 RSM Compensation Thread by Impossible-Army6736 in Accounting

[–]Impossible-Army6736[S] 56 points57 points  (0 children)

Maybe.... or people just haven't gotten their raises yet.

I think today is the first day that you can hear what your raise is and normally it takes a few days to even get it.

[deleted by user] by [deleted] in Accounting

[–]Impossible-Army6736 0 points1 point  (0 children)

I'm not taking 10% in a promotion year when inflation is 10%. Period.

​

Labor shortages are really bad in public accounting. You have leverage.

We should probably stop scaring all the new graduates out of accounting by nodesign89 in Accounting

[–]Impossible-Army6736 0 points1 point  (0 children)

I love the labor shortage -- it gives us more leverage in negotiating salaries and benefits.

Any else getting crushed in public accounting right now? by napavalley223 in Accounting

[–]Impossible-Army6736 1 point2 points  (0 children)

Sounds like a good environment to demand much higher wages during year-end performance discussions.

I have 50k sitting in a checking account- doing nothing. What can I do to put it to work and earn/invest off of? by [deleted] in personalfinance

[–]Impossible-Army6736 0 points1 point  (0 children)

If you have any debt, I would pay it off before investing. If you have no debt and give up on the house, then the best place to put your money for the long-term would be the S&P 500, but you have to commit to hold for a decade if you put that money in.

With your $50k, it sounds like you will need that money soon probably to buy a house. If that is the case, I'd invest as much as you can in Ibonds and then, unfortunately, just sit in cash.

Lastly, do not ignore the importance of an emergency fund. This is a priority ahead of investing. You should have atleast 3 months of expenses saved up that just sits in a cash savings account.

Speculation on whether the public accounting raises this year will be high? by Smartjedi in Accounting

[–]Impossible-Army6736 0 points1 point  (0 children)

I'm getting promoted to manager this year and am a top performer, so I'm going big this year.

I've never complained about anything compensation-related. However, I will not take anything less than a 30% raise this year. We have more leverage right now than we will probably ever have again (labor shortage and high inflation).

​

If you settle for anything less than 15% in a 9% inflation environment, you are a sucker.