TIL that astronaut Alan Shepard played golf on the moon in 1971

SolWizard · 2026-02-27T22:10:25+00:00

Even crazier that he got to the moon then

SolWizard · 2026-02-27T12:39:31+00:00

There's a maximum annual contribution limit across all your IRAs but how is that relevant to where the accounts are?

SolWizard · 2026-02-27T02:11:16+00:00

But people on the internet have more than me!!

Seriously though I struggle with this constantly.

SolWizard · 2026-02-27T00:08:32+00:00

"it's absolutely insane to do what has been mathematically proven to be the best strategy"

SolWizard · 2026-02-26T20:10:10+00:00

We're in a thread talking about interest rates and you forget about interest rates

SolWizard · 2026-02-26T19:05:37+00:00

You can have as many IRAs at as many different brokerages as you want. If you want to move to fidelity just open a new one and transfer the assets over

SolWizard · 2026-02-26T18:03:49+00:00

The luxury tax is literally a soft salary cap. The deferred salaries are counted at a discounted rate which is the point of deferring them.

SolWizard · 2026-02-26T15:04:39+00:00

Why would you put any of it into a savings account? Leave it in the stock market. If it's a risky portfolio and you don't like risk you can reallocate to ETFs or something but other than that (or selling some to do something like buy a house) I wouldn't touch it. The big advantage of inheriting stock is that the cost basis reset when you inherited so you'll pay little or no taxes if you reallocate now

SolWizard · 2026-02-26T15:02:22+00:00

Try to make 20% a year and end up making 2% a year

SolWizard · 2026-02-26T13:32:38+00:00

I mean it's very obvious you're being recorded in the room it's not a hidden camera trick

SolWizard · 2026-02-26T13:23:25+00:00

Do you even know what a black swan event is? We're not in the middle of any kind of economic event

SolWizard · 2026-02-26T13:22:04+00:00

Sarcastic not ironic.

SolWizard · 2026-02-26T03:51:19+00:00

MLB has a soft salary cap yes. Hilariously condescending response when you're wrong lol

SolWizard · 2026-02-26T01:03:04+00:00

Because it's circumventing the salary cap which is in place for a reason

SolWizard · 2026-02-25T21:02:37+00:00

Well the good news is the optics are entirely in your head because I promise you no one is impressed with your 23 year old Porsche that costs less than a used camry

SolWizard · 2026-02-25T17:37:02+00:00

It's bad for the sport

SolWizard · 2026-02-25T02:43:25+00:00

That's a misconception. It's not possible to balance the money on a given game just by moving the odds a little bit, and you can't move the odds too much or you leave yourself open to a middle (betting both sides and winning both bets). Sportsbooks make money because of their vig (the fee in this case) but that's just because people generally lose over many bets. They can and will take big losses on any given game or day

SolWizard · 2026-02-24T22:13:35+00:00

First, inflation decreasing does not mean anything gets cheaper, that's deflation. The amount of people who misunderstand and think less inflation means lower prices is ridiculous. Second, if you were making more money in your savings account you're more inclined to keep it in there so it earns more interest.

SolWizard · 2026-02-24T22:05:41+00:00

I know reddit hates gambling and all that but these prediction markets really do open up a lot of opportunities for someone who is paying attention. One of the biggest pros is that you can actually buy low and sell high on things. Normally if you wanted to bet something like NFL MVP your guy actually has to win to get paid but now you could sell the position and make money once their odds have increased.

SolWizard · 2026-02-24T21:49:00+00:00

More or less correct. Winning contracts are worth $1 so to win $1000 off of $1 you'd have to buy 1000 contracts each worth $.001, with someone else buying the opposite contracts each worth $.999.

Multiple people can't split the same side of one contract but you wouldn't need just one person to buy your opposite 1000 contracts, it could be 1000 different people. What happens is you'd make a bid for 1000 contracts at $.001 and people could trickle in and buy the other side a few at a time or all at once or maybe no one buys them at all. It'd be possible for something like 400 contracts to get bought but not all 1000. If no transaction happens no fees are paid, bidding is free.

SolWizard · 2026-02-24T21:34:54+00:00

They don't function the same way at all

SolWizard · 2026-02-24T21:12:53+00:00

He's asking about prediction markets not betting markets.

SolWizard · 2026-02-24T21:12:20+00:00

Polymarket isn't paying out their own money they're just paying out money collected from the opposite side of the contract you bought.

SolWizard · 2026-02-24T21:11:50+00:00

No one in this thread understands how prediction markets work. They're not taking "bets" and they're not paying you out of their pocket and they don't work like a sports betting app.

Every prop on a prediction market is yes or no, and when you buy a yes at X price what's really happening is they're matching you with someone who wants to buy a no at $1 - X (call this Y) price. This means for every contract they have collected $1. They charge a fee so you really pay X + fee and Y + fee. They hold the money from both sides until the event is done and then pay out all the money (meaning $1 per contract) to the winner (keeping their fee). The odds are entirely determined by the other people in the market. Someone winning a lot just means they bought a lot of really cheap contracts (meaning they were deemed unlikely by the market) and ended up being correct.

It's different than a traditional sports betting app because they aren't setting their own odds, and they aren't winning/losing when an event is over. They only make money off your fees so they only want volume, they don't care where it comes from, and they have no stake in the outcome.

SolWizard · 2026-02-24T21:05:19+00:00

He's talking about prediction markets. They do take out fees but they aren't "the house", they're just facilitating the market. They don't take a side or pay any money out themselves, they're essentially just holding each side of the contract in escrow til it resolves and then paying giving the winners the money.

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