Yep, cash is king. My son sold his house last fall for cash over asking price. Had higher offers, with financing contingencies, but didn't want the hassle of appraisers, etc.
Nasdaq is crushing it today. While inflation is still a bit of a concern, it’s still at crazy historic lows, and just as importantly...Not only has the LIBOR not budged over the past few weeks, it’s actually down. The one year is at .28 percent, was at .32 in January. So the true underlying pressures aren’t there yet. We will se what the stimulus does though.
IKR? I joined Monday for fun. Up 53% in a day and a half. I'd sell but I'm too afraid you all would call me paper handed.
My son follows it closely. I bought in May 2017. If I had listened to my son I would have gotten in at half the price. When I decided to jump Coinbase took two weeks to authenticate my bank account. Meanwhile prices went up significantly. Still, got Bitcoin at $2500, Ether at average $150, and Litecoin at $25. I was penny wise pound foolish. At that time Bitcoin IRA had just been approved by the SEC. I was going to move 401k money there, but I didn’t like their 7% commission. Silly me. 7% is nothing if the remainder goes up 10X. At one point a couple years ago I took out 1.5x my investment. What is leftover now is 10x my original investment. So I’m playing with “house money.” I store it on Coinbase. I also have tiny amounts in Kraken, Bitrex, Binance, KuCoin, and Bitfinex, usually because of some offer they had going or a coin that Coinbase didn’t carry at the time. One of those, Binance, stopped doing business with Americans. You had to move everything out by a certain date or lose it. My small amount of ETH was below the minimum transfer amount. So I lost that. It is still the Wild West in cryptoland. You have to be careful what exchange you use. People have lost money in shady exchanges. However, as big players see the value of crypto, the market will grow and hopefully gain stability and security.
I have tried to get my step-dad to get into crypto since December. Every time there is a dip I push him a little but he has yet to pull the trigger. He still says it's too risky (keep in mind this is a guys that LOVES blackjack and plays enough to get comped trips several times a year lol).
GME drops from $346 to $302 in less than a minute, then trading is halted. Trading resumes and it instantly drops to $202. It goes up to $248 and trading is halted again. Pure manipulation.
I bought 7 Monday at 158. Sold 3 of them today at lunch at 340. I was just finishing updating my spread sheet when I saw 220! Lol. Immediately went back to sell the other 4. Executed at 240. That stuff is nuts!
