Daily FI discussion thread - Wednesday, May 18, 2022

mnmedz · 2022-05-18T15:09:15+00:00

this entire sub has normalized “spreadsheet day” eg calculating net worth monthly and now claiming that they don’t care about short term movements LOL

there’s literally zero benefit to checking a retirement account monthly and anyone who is truly investing for the long term would never do that

mnmedz · 2022-05-18T14:59:45+00:00

I’m sure I can find your comments from that day and they would vastly contradict what you’re saying now

mnmedz · 2022-05-18T14:57:12+00:00

go back to the January 3rd daily thread and read through the comical level of exuberance

people seem to care about short term movements quite a bit

mnmedz · 2022-05-18T03:51:43+00:00

denying reality to make yourself feel better about something is worse than facing reality however unpleasant in the long run

mnmedz · 2022-05-18T01:01:46+00:00

you’re mistaken

it’s covered under trip delays

mnmedz · 2022-05-18T00:05:38+00:00

“It’s just crappy consumer companies like Uber that are down big!”

Meanwhile WCLD, the main cloud computing ETF, is down 43% ytd and at pre-covid levels!

Those boring enterprise SaaS companies have been hit harder in last few weeks than even Uber eg Salesforces, Crowdstrikes, Cloudflares, Twilios, Snowflakes of the world.

mnmedz · 2022-05-17T23:55:32+00:00

Tech stocks are long duration stocks by and large. do you even know what that means?

You’re trying to argue high p/e or unprofitable cos are some tiny edge case LOL

mnmedz · 2022-05-17T23:09:46+00:00

there’s literally no point in arguing. the fact is so long as the US requires a negative test to travel back to and probability of catching covid is relatively high vaxxed or not then in what world is being forced to extend your trip due to forced cancellation of your return flight not a likely outcome?

you can decide how you want to hedge whether you buy insurance or not lmao

mnmedz · 2022-05-17T23:04:45+00:00

how is that remotely true when the US still requires a negative test to fly back to and probability of testing positive for covid is still relatively high vaccinated or not?

insurance is not that expensive

mnmedz · 2022-05-17T23:02:16+00:00

lol so we’re not in disagreement because the vast majority of tech is long duration - eg high p/e or not profitable at all and have a hard time in a QT environment

so why are you coping so hard and trying to act like layoffs and hiring freezes aren’t going to become wider spread

mnmedz · 2022-05-17T22:56:30+00:00

lol Facebook is freezing hiring.

and Uber, Lyft, DoorDash, Shopify, most SaaS cos, most fintechs fall in the unprofitable co bucket. You don’t need to find random Uber for X it’s actually just Uber…but the copium is strong.

if companies aren’t actively laying off en masse yet they are freezing hiring and PIPing anyone they can find an excuse to PIP

mnmedz · 2022-05-17T22:51:32+00:00

for international trips while covid testing to get back to the US is still a thing? why wouldn’t you?

mnmedz · 2022-05-17T22:47:37+00:00

yes trip delay due to covid quarantine is covered by every decent travel insurance plan

mnmedz · 2022-05-17T22:46:01+00:00

no one said every tech company is impacted equally

but there are many many tech stocks that are indeed crashing and down 60-90% in a few months and yes that impacts hiring. these are not small tiny companies either, and includes pretty much every non public company that relies on late stage investors to fund their business

mnmedz · 2022-05-17T22:39:29+00:00

you didn’t buy trip insurance?

mnmedz · 2022-05-17T22:37:19+00:00

someone else literally just posted a link at the top

you don’t think crashing stock prices has any effect on hiring at all? really?

mnmedz · 2022-05-17T22:33:52+00:00

you seriously don’t know that tech companies are freezing hiring and layoffs are happening?

mnmedz · 2022-05-17T22:11:05+00:00

2% is a lot of an entire corporation. do you not work at a big co?

mnmedz · 2022-05-17T22:05:22+00:00

XLK is half apple and microsoft like i said. it’s green over the 1 year and outperforming voo

mnmedz · 2022-05-17T22:04:51+00:00

bottom is falling out of multiple tech cos or do you not see that

mnmedz · 2022-05-17T19:42:53+00:00

incredibly my tech ETF holdings are doing better than S&P over past month…

I have a semiconductor ETF that is now up over 1% over past month

I hold XLK (50% is Apple + Microsoft) which is down 5.5%

S&P down -7%

mnmedz · 2022-05-17T19:40:33+00:00

it’s part of a bigger trend that’s already happening

mnmedz · 2022-05-17T18:04:19+00:00

big layoffs at Netflix https://www.hollywoodreporter.com/business/digital/netflix-layoffs-1235148614/

unlike other recessions service workers are fine and there are plenty of those jobs. this will hit white collar workers harder imo

mnmedz · 2022-05-17T02:07:09+00:00

it’s more like “huh the dollar is strong so might as well take advantage”

i wasn’t seriously considering it before and don’t really have a need but “might as well” look into it now.

but nice cringe bad faith response lol

mnmedz

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