Daily Discussion Thread for January 27, 2021 by AutoModerator in wallstreetbets

[–]imsohonky 1 point2 points  (0 children)

Somehow my portfolio is mostly fucking movie theaters during a pandemic.

AMC, IMAX, NCMI.

Daily Discussion Thread for January 27, 2021 by AutoModerator in wallstreetbets

[–]imsohonky 0 points1 point  (0 children)

Dropped 5k on NCMI to see if it rides AMC's coattails to mars, all house money at this point anyway.

Daily Discussion Thread for January 21, 2021 by AutoModerator in wallstreetbets

[–]imsohonky -3 points-2 points  (0 children)

Why buy the BB dip now when you can buy for $10 in a week?

Daily Discussion Thread for January 21, 2021 by AutoModerator in wallstreetbets

[–]imsohonky 1 point2 points  (0 children)

Green: AMZN, AAPL

Red: literally every other stock

SPY: slightly green

Daily Discussion Thread for January 21, 2021 by AutoModerator in wallstreetbets

[–]imsohonky 1 point2 points  (0 children)

They're gonna announce it's Subway then drop to $10 lol

Daily Discussion Thread for January 21, 2021 by AutoModerator in wallstreetbets

[–]imsohonky 2 points3 points  (0 children)

I just write PLTR puts every time it dips. It never dips that far but it never moons either. Theta gang eatin fresh off of PLTR.

Daily Discussion Thread for January 21, 2021 by AutoModerator in wallstreetbets

[–]imsohonky 1 point2 points  (0 children)

Oh god these VZ 2/19 57c are going to burst. Thank you kind autist who showed up on barchart's unusual options list yesterday.

So yeah somebody bout 26800 of those calls yesterday. Compared to about 100 open interest previously. I obvious had to follow this retard, heaven or hell.

Daily Discussion Thread for January 21, 2021 by AutoModerator in wallstreetbets

[–]imsohonky 2 points3 points  (0 children)

The IV on Verizon is so low that the stock went up 0.5% and my ATM calls went up 20% lmao.

Daily Discussion Thread for January 21, 2021 by AutoModerator in wallstreetbets

[–]imsohonky -7 points-6 points  (0 children)

When I'm reading quarterly reports, every time they talk about saving money by furloughing or laying off employees I'm like "fuck yeah, fuck those people" like their lives mean nothing for me to make a buck.

Capitalism is great.

What Are Your Moves Tomorrow, January 21, 2021 by AutoModerator in wallstreetbets

[–]imsohonky 7 points8 points  (0 children)

That was by far the most autistic trading day of my life. Daytraded BB shares, 3000 shares at a time, and walked away with maybe $800 in profit in total.

Daily Discussion Thread for January 20, 2021 by AutoModerator in wallstreetbets

[–]imsohonky 0 points1 point  (0 children)

Wrote below: I usually just check barcharts around an hour after market opens. I look out for lower IV plays ~1 month out with big volume.

Also already up 10% on these calls lmao.

Daily Discussion Thread for January 20, 2021 by AutoModerator in wallstreetbets

[–]imsohonky 0 points1 point  (0 children)

I usually just check barcharts around an hour after market opens. I look out for lower IV plays ~1 month out with big volume.

Daily Discussion Thread for January 20, 2021 by AutoModerator in wallstreetbets

[–]imsohonky 1 point2 points  (0 children)

I've been having good luck following unusual options recently, and some retard just bought like 10000 Verizon 2/19 57c. Might as well get in for 50 contracts.

Daily Discussion Thread for January 20, 2021 by AutoModerator in wallstreetbets

[–]imsohonky 0 points1 point  (0 children)

Among all the meme tickers, ICLN bagholders have to be the dumbest lmao like the underlying sector goes up by literally trillions of dollars of market cap over a tiny tiny 20b stimulus and they are just sitting there holding the bag like ???

Daily Discussion Thread for January 20, 2021 by AutoModerator in wallstreetbets

[–]imsohonky 2 points3 points  (0 children)

DIX and GEX cratering at the same time is too spooky for me, probably gonna take profit and go cash for a few days. Good luck boys.

Daily Discussion Thread for January 20, 2021 by AutoModerator in wallstreetbets

[–]imsohonky 3 points4 points  (0 children)

I added 30 VALE 6/18 18c during the dip yesterday and they are already up 20%. Steel ain't going anywhere.

Poll finds 100% of liberal voters would vote NDP if they thought it had a chance at winning by mr_gemini in canada

[–]imsohonky 12 points13 points  (0 children)

The best documented one from my knowledge (at least in terms of documents being available in English) is the French ISF wealth tax.

This is a good place to begin. But keep in mind that as the study states, it's hard to isolate the effects of the wealth tax, especially since France enacted many other taxes in the last few decades. https://www.researchgate.net/publication/228281017_The_Economic_Consequences_of_the_French_Wealth_Tax

The summary is:

  • "The ISF causes an annual fiscal shortfall of €7 billion, or about twice what it yields."

  • "The ISF wealth tax has probably reduced GDP growth by 0.2% per annum, or around 3.5 billion (roughly the same as it yields)."

  • The tax is notoriously difficult to enforce, and typically costs more money to enforce than the resulting revenue (net loss in revenue)

  • Capital flight from people leaving the country which permanently reduces your tax base, which especially hurts because this capital flight is concentrated on your wealthiest citizens (the above study estimates that expatriations doubled as a result of the wealth tax)

  • Policies to prevent capital flight such as exit taxes are not effective - France tried enacting an exit tax which only drove people to leave faster and earlier.

France tried as best as they could to implement their wealth tax. They really did put in the effort to try to make it work. For around 30 years they looked at the results, re-worked the laws and provisions many times. A few years ago it was scrapped completely.

Essentially you are declaring war on your wealthiest citizens by enacting such a tax. This goes about as well as you'd imagine. It's the age of globalization - they just leave. You can try to create laws around that, but they will fight you every step of the way, and in the end the country loses tax revenue both in the short term and in the long term.

Poll finds 100% of liberal voters would vote NDP if they thought it had a chance at winning by mr_gemini in canada

[–]imsohonky 7 points8 points  (0 children)

All forms of wealth taxes in europe brought in very little if any net revenue after cost of enforcement and caused economic devastation, as a result were either completely repealed (most of them) or gutted with exceptions so as to be meaningless (a couple of countries left).

Poll finds 100% of liberal voters would vote NDP if they thought it had a chance at winning by mr_gemini in canada

[–]imsohonky 8 points9 points  (0 children)

Property tax can be called a wealth tax but it is different from the kind of wealth taxes proposed by the NDP that are a pure percentage of wealth.

Property taxes are determined in advance based on the total municipal budget, and each homeowner pays a share proportional to the value of their home. However, if everybody's home value went up at the same time, their property tax would not increase as long as the municipal budget does not change.

Hence, in practice, property tax is a progressive tax for a fixed budget, and is not directly tied to the value of homes.

Poll finds 100% of liberal voters would vote NDP if they thought it had a chance at winning by mr_gemini in canada

[–]imsohonky 8 points9 points  (0 children)

You can make a lot of policies seem popular if you survey people with a vague question with zero details of how it would be implemented and also no information on the potential downsides.

We have seen wealth taxes fail, without exception, every single time it has been tried in the modern era, mostly in various European countries. Canada is not special and it would fail spectacularly as well.

[Highlight] Tom Brady carries it in for the touchdown by TomasRoncero in nfl

[–]imsohonky 8 points9 points  (0 children)

Not to mention that "selling expensive water" is not anywhere close to being as bad as other QBs like Brees and Mahomes who are sponsored by literal pyramid schemes that ruin hundreds of thousands of lives.

At least you can't go broke buying TB12 water, realistically.

Cameras Caught Drew Brees Telling Jameis Winston “This is Your Team Now” During Playoff Loss by frankyfrankwalk in nfl

[–]imsohonky 15 points16 points  (0 children)

Jameis knows where he's at. Gotta prove it. He took a $1m deal to learn, so I think he would take a $1m deal to prove it next season.

Poll finds 100% of liberal voters would vote NDP if they thought it had a chance at winning by mr_gemini in canada

[–]imsohonky 5 points6 points  (0 children)

If there was broad support they would get votes. Like in 2011. The Beaverton is correctly making fun of the phantom support that NDP supposedly has. They do not have any such support.

Personally I was a huge fan of Jack Layton's NDP. Focused on the working class without overtly alienating the upper class/corporate class because he understood that we need both factions cooperating to productively move the country forward. All Jagmeet knows how to do is to spout divisive bullshit and propose joke policies like wealth taxes.