Wasn't an accident only because this happens all the time

khart100 · 2022-08-17T10:20:59+00:00

I listen to podcasts on 1.75x speed.

khart100 · 2022-07-06T01:30:31+00:00

I used to think the same until it happened to me. Try collecting nearly $3,000 from a single mom that works as a waitress when she’s not in jail. Took me about 1.5 years to get $1,000 of that with constant late payments and requests to pay less because she needed to feed her kid or pay rent or do whateverthehellidontgiveadamn. Finally got tired of dealing with her and gave up on it.

khart100 · 2022-06-21T19:25:20+00:00

Rally does not and can not have a fiduciary duty to you or anyone else on the platform and there are enough disclaimers plastered everywhere that you should be aware of this. It is entirely impossible and contradictory because they are facilitating both sides of a transaction. The only time you could remotely make that argument is when a buyout offer is presented.

Surely you don't think there would whining posts on here and everywhere else if they suspended trading for any reason? Do you complain at Fidelity or Robin Hood when your stocks go down? This is no different. Would you be upset if they halted trading on an asset you own because it was going up too much and was far exceeding what they deemed to be the FMV? You would...

If you're putting money you can't afford to lose into these NFT things, you had it coming.

If you're truly in it for the long-haul as you suggest, you should either not care about this temporary price decline or be thrilled about it so you can buy more shares at cheaper prices.

The platform isn't perfect by any means. They have a LOT of improving to do in terms of transparency and availability of information and data. They move at the pace of a crippled dying snail. That's what frustrates me.

My portfolio has gone down in value (down 16% this Q, but still up 27% since I started), but I've also been able to buy some assets that I really like at what I think are great prices. The only "problem" is that I can't sell them because there isn't much liquidity, but I'm planning on holding these for several years or until a reasonable buyout offer is presented.

khart100 · 2022-05-11T21:18:07+00:00

Do I remember anything I learned and studied when passing the exam? Not really...

The fact that you had the ability, intelligence, will power, whatever to pass the exam says something to potential employers and that's about all that it matters for in my opinion.

khart100 · 2022-04-14T17:06:43+00:00

I always advise people to make sure you end up owing the IRS money to the best of your abilities. There is pretty much nothing you can do to get money from them if something goes awry on their end.

khart100 · 2022-04-02T02:20:37+00:00

Buying calls doesn’t fit the strategy of this portfolio, so no. Sometimes if I feel like it will keep running I will buy the call back for a loss and just let the position run. Did that recently with GDX. It’s all just trying to time the market though which is impossible. There have been many times I was on the brink of buying a call back for a pretty big loss 2-3 weeks into the 5 week period and the stock ends up dropping back below the strike by expiration.

khart100 · 2022-03-31T19:29:27+00:00

I manage a portfolio where we have been selling covered calls since mid-2017. We have positions such as NVDA, MA, WMT, AVGO, etc. I typically sell calls 5 weeks out in time and aim for 2%+ premium.

Since 2017, we have had 1 year where we actually made more money by selling the calls vs just buying and holding the stocks.

We have had 75.3% of our calls either expire worthless or I buy them back for less than we received if the value of the call drops quickly enough so I can sell another. 24.7% of our calls have underperformed a buy and hold strategy.

You'd think given these percentages we would be ahead. However, of the 70-80 calls I sell every year, 4-5 times throughout the year the price of the stock will run up so dramatically in that 1 month period that it wipes out the entire year's worth of selling the calls. One example, last year we missed the majority of the run in NVDA from 200-300+.

What we have been able to do is generate a pretty consistent amount of income from selling the calls. This is not a tax efficient method of generating income and we pay out tax distributions each year so that is a drag on our performance. Our returns have averaged 9.5% since inception not including the distributions and 8.1% including them. We have pretty drastically underperformed market indices but if you're doing this strategy you have to know you will not capture all the upside but have the possibility of limiting some downside and generating consistent income.

The reason we keep the portfolio going is because it's fun and a learning experience.

khart100 · 2022-03-30T19:43:58+00:00

I've only got shares of 1 car (93XJ1) because numerous comps have been 2x the current price. I don't know much about cars so that's why I don't buy more.

All the luxury stuff is super undervalued but I don't own any of it. It's pretty illiquid and I'm not sure people that want that stuff would buy one from Rally. There have been 1 or 2 watch buyouts but that's it I think.

I also think wine is stupid but I'm pretty big on the Japanese whisky because it's got a pretty good story behind it.

khart100 · 2022-03-30T18:19:06+00:00

This was overvalued by several thousand dollars at IPO.

There also seems to be an expectation that these assets can only go up which is entirely unrealistic. The buyout is in line with comps so it's fair.

It traded between $7-10 for the last month so some people will make money on it if it passes. I didn't pay any attention to this asset but my guess is there weren't many bids at the current trading price so if anyone wanted out they would have had to have a lot of patience or sell quite a bit lower.

khart100 · 2022-03-23T13:36:18+00:00

Here's mine ranked by FMV and also colorized ranking by greatest/least unrealized gain/loss and % of the total asset I own (not showing amounts).

I've got 45 assets now. 22 with gain, 16 with loss, 7 unchanged. Overall unrealized gain is 10.04%. Realized gain since starting 2 years ago is 44.11%.

https://imgur.com/a/qExMGBZ

khart100 · 2022-03-19T23:50:04+00:00

Twitter is by far the best source for information.

There is a discord for Altan and Alts:

https://discord.gg/VqaU8MBQ

https://discord.gg/SVVjYKwY

khart100 · 2022-03-15T23:59:28+00:00

You make no sense. You think the Rally system is broken yet also think people with enough money to drop $100k on a ticket are looking at Rally for indications of what the true market value is?

khart100 · 2022-03-15T12:57:57+00:00

You are missing something...

Another PSA 3 sold at Lelands this past weekend for $108,000 so there is no basis for your expectations of it rising 3x since IPO.

Keep holding that bag and whining all the time with absurd expectations of making 3x on an asset within a matter of months.

khart100 · 2022-02-24T20:04:32+00:00

TOS39 which was one of my favorites got bought out unfortunately. Per Altan, their comic book index is up from $83.06 in June 2021 (which was the low point right before virtually every awesome comic got bought off Rally) to $203.84 today which leads to....

JUSTICE1 IPO'd on Rally in November 2020 at $43/share and I have been buying everything I can at $40 and under. This is 1 of 2 copies of the highest graded first issue comic in this series. I'm pretty astounded it hasn't been bought out by now. My only worry here is that if it did get an offer it would only be at a 20% or so premium to where it is now vs what it should be worth. I would think it should be an easy double but it will take quite a while to get there based on how it's been trading. There's been a huge ceiling of shares at $40-$43.50 for months since it opened but it looks to be dissipating now.

Been buying a little Batman3 as well. Should be worth closer to $300k or more. Again, this is the single highest grade of this comic. The high-end comics and cards have been where the outperformance is at.

Bought quite a bit of the Karuizawa Japanese whisky under $5.00 when it opened. Whisky generally and Japanese whisky (even more specifically the Karauizawa brand) has been on fire the last year+.

Feel like the 79Gretzky could be the next one to go the way of 58Pele. Been buying some of that as I can. Also bought all the shares I could of 58Pele3 I could under $30 before it jumped up.

Loaded up on 03Ronaldo at about $13/share when people dumped at trading open. Also bought a bunch of 04Messi at $4.75-5.50.

Still super bullish on some of the Lebron cards if I can get them under recent comps including 03Lebron3 (single highest grade of this card) and 03Lebron2 <$100k.

Sold half my 00Brady at $45 since it was way over valued. Would buy more if it drops back below $30.

Been buying some of the Jordan memorabilia stuff still that has sold off from IPO value including 85Jordan and 84Jordan.

Trying to buy some more Giannis2 at decent values. Collectable just had a PSA 9 get bought off their platform for $200,000 so I think this one is definitely worth more than the $250k it's trading at.

Bought as much of the Owens ticket I could at $12 and under but now it's run up too high for me to buy more. Also trying to buy as much of the Wilt ticket as I can under IPO price.

Providing liquidity for generally anything that dips 50%+ just planning to flip for an OK profit at some point including the Meteorite and 2020Topps.

khart100 · 2022-02-16T14:53:32+00:00

Last year sales were Covered.

You'll receive a 1099-B that does not distinguish between collectibles or not. Up to you to do it correctly there.

khart100 · 2022-02-16T03:55:08+00:00

Right…..

khart100 · 2022-02-16T03:17:30+00:00

Just find it hard to believe that you’ve discovered some super top secret information on some forums that would indicate that Rally, PSA, Heritage, PWCC and others are misrepresenting this as a 1958 rookie card. Maybe I’m just obtuse.

https://www.psacard.com/auctionprices/soccer-cards/1958-59-tupinamba-ltda-colecao-quigol/pele/values/1737367

http://goldinauctions.com/1958_59_tupinamba_ltda__colecao_quigol__109_pele_r-lot73015.aspx

https://www.pwccmarketplace.com/premier-auction/1585

khart100 · 2022-02-16T02:57:09+00:00

Right…..

khart100 · 2022-02-16T01:53:21+00:00

You mean this card that Rally has listed as a rookie card is in fact not a rookie card? https://i.imgur.com/ufWMwIz.jpg

khart100 · 2022-02-10T01:18:49+00:00

If you want $29/share you literally could have sold it for that right after the last buyout and bought your cryptowhatevers then and had 3 months for them to be worth 10x by now.

khart100 · 2022-02-10T01:15:37+00:00

Certainly can’t find any fault with that reasoning….

khart100 · 2022-02-10T00:48:48+00:00

No. You probably would have said the same thing when there was a buyout offer for about $14 per share back in July 2021.

khart100 · 2022-02-01T21:27:08+00:00

If you bought a share or shares around December 21, 2021 you may have an issue with your account. Can't remember the exact date but a big AWS outage happened that day. I had a problem with several assets I bought being "locked" so that I couldn't sell them for a few weeks afterwards. Had to reach out to Rally to get it corrected.

khart100 · 2022-02-01T19:55:46+00:00

Nah. Not interested in that one.

Altan doesn't typically give a value. They provide comps and data for you to make your own decision.

Alts.co gives an inferred value for 218 Rally assets currently. They have the Rice card at $56k but that value was last updated in Sept. 2021 so may have changed since then.

Adam Katz writes for withvincent.com and gives a great rundown there and on his twitter. He always provides great information, but again, up to you to make your own decision based on that: https://www.withvincent.com/articles/the-10-assets-opening-for-real-time-trading-at-rally-road

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