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Baroclinic Zone

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8 minutes ago, powderfreak said:

It's the American public, nothing surprises me anymore, :lol:.

I got in at 0.22 and got out at 0.6 yesterday in Doge.  Its hard to watch it go up another 10% today but I had 0.5 as my "out" and then when it blew past that I mentally said 0.6... and feel pretty good that I stuck to that one finally.  Made several thousand in free money to get some home improvement plans rolling this summer. It's definitely straight up gambling and definitely feels weird, I'll be honest. Certainly not "earned" money.  Feels a little dirty for some reason, ha.

That’s wall street for you and they don’t feel dirty about it so neither should you. Congrats.

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52 minutes ago, DavisStraight said:

People  are offering 50k-100k over asking prices to bet a house  in my area, it's probably worse in and near Boston. That can't last

It's been insane up here too.  Everything is going over asking price and most are selling in cash.  Not a single home or condo under half a million on the market right now in Stowe.

Honestly an article this week in the local paper reads very familiar to what Phin did... just buying stuff sight unseen and in big transactions to escape the city life.

Not going to lie, I'm not excited for a tax assessment in Stowe.  They are already talking about it and I know even where I am, our townhome is assessed almost $100K lower than what adjacent units have sold for.

 

Quote

 

“I’ve never experienced anything like this in my life in terms of individuals buying homes sight unseen,” said Leslie Anderson, a paralegal with Stevens Law Office in Stowe. “There’s hardly anything on the market right now. And I would say predominantly, the majority of the transactions we handled were cash deals and none were under $500,000.”

The Stowe housing market is experiencing unprecedented pressure, mostly from a massive influx of wealthy out-of-state home-buyers. Available homes are few and far between — with nothing on the market for less than half a million.

A recent review from the Vermont Center for Geographic Information using data from the department of taxes illuminates this jump with eye-popping numbers. The review found a 38 percent rise in the state when it came to residential property sales involving out-of-state buyers in 2020, a jump to 3,795 sales from 2,750 sales in 2019.

Stowe took the top spot, recording $132.1 million in this kind of transaction, a 21 percent increase from 2018 ($104.2 million) and a 49 percent increase from 2019 ($66.8 million).

“There is a big jump in the prices that people are paying for properties versus our assessments,” Stowe assessor Tim Morrissey said. “What’s driving the prices is the lack of inventory of houses and condominiums for sale on the market right now.”

Morrissey predicts that the state will require a reappraisal of homes in Stowe in 2022 or 2023 as the market price of homes rise past their currently assessed value.

 

 

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22 minutes ago, CoastalWx said:

Yeah, if this craze continues after it drops maybe I'll educate myself more and throw play money at it. Nobody needs to get butthurt from what I said...it's more of a comment about how insane this is. It seems like it's at a high point and not worth getting into it, but on the other hand...the overall trend line likely is for it to keep going up?

Get into other cryptos have that more long term stability. Cardano or Stella are cheap. There are others. Buy like 50 coins and then look 10years from now to see if your kids colleges are paid off from a $100-$200 gamble at the crypto casino. Also coinbase gives you free coins when you watch their videos. You’ll learn a little and realize some of this has actual staying power.

https://www.google.com/amp/s/finance.yahoo.com/amphtml/news/10-best-cryptocurrencies-invest-2021-143026001.html

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15 minutes ago, SnoSki14 said:

I mean sure as long as the hype continues it could go up. Doge is being listed on other places too which helps.

I'm still learning about the crypto space but I do know Doge was created as a joke to make light of cryptocurrency.

It was intended to make people feel at ease about the space. The creator of Doge is prob crapping himself seeing what's been happening. 

But I guess the jokes on everyone. If a meme coin could do this then everything we've ever known about money & economics is nonsense. 

Interest rates pegged close to zero for over a decade breaks a lot of things.

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6 minutes ago, RUNNAWAYICEBERG said:

That’s wall street for you and they don’t feel dirty about it so neither should you. Congrats.

Yeah I just wander around mountains all day. This is new to me.  I just picture investing like Wolf of Wall Street... total mayhem, drugs and cash. 

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Think I'm going to ride out the week in tesla and yum brands. 

TSLA will be interesting with Elon on SNL. 

Yum brands is crushing it during this reopening. Just announced they need another 20, 000 workers. Room to run in that one I think.

Looked at my trade history and I did 10% in April. Not bad

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2 minutes ago, Typhoon Tip said:

Do you guys belong to any Econ -based social media platforms ? 

heh

Stocktwits and reddit... I don't read wall street bets

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7 minutes ago, DotRat_Wx said:

Think I'm going to ride out the week in tesla and yum brands. 

TSLA will be interesting with Elon on SNL. 

Yum brands is crushing it during this reopening. Just announced they need another 20, 000 workers. Room to run in that one I think.

Looked at my trade history and I did 10% in April. Not bad

I need to start diversifying more instead of just picking a few stocks. I have been in a weird place financially. 401k grew by 50% last year, but I have no contributions lately. 

My Schwab is different. Its basically to play with. 

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2 minutes ago, Ginx snewx said:

@weathafella Remember our conversation this past summer about undiagnosed cancer and the implications of Covid shutdowns?

https://apple.news/AZCAqmXqVQ5OZZXg-IAA9sQ

 

 


 

No doubt, I seriously thought I was gonna die from an abscess tooth because it was impossible to find a dentist for a few weeks in March 2020.   

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17 minutes ago, powderfreak said:

Yeah I just wander around mountains all day. This is new to me.  I just picture investing like Wolf of Wall Street... total mayhem, drugs and cash. 

Stowe dumpsters full of cash and coke as the bears guard them...decisions.

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1 hour ago, Hoth said:

Lots of people may sadly end up leveraged and underwater at some point in the coming years. ...Or maybe we go full Wiemar and their two bedroom makes them paper trillionaires...

Zillow thinks our modest 3 bedroom raised ranch is worth like half a million bucks....lol. We bought it 4 years ago for 345k. There's no supply on the market right now which is part of the issue. As soon as anything within a sniff of 500k goes on the market, it's gone around here...usually in a bidding war/all cash offers. 500 is the new 400 these days.

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2 minutes ago, powderfreak said:

Yeah I just wander around mountains all day. This is new to me.  I just picture investing like Wolf of Wall Street... total mayhem, drugs and cash. 

I did work for a PE shop that involved delisted companies a long time ago. I had lunch with our counsel one day in my first week and I still remember something he said about the Pink Sheets we targeted, but which could just as easily be ascribed to Wall Street generally. He said,  "We operate in a pretty dark corner of the market. You need to think about these target companies the way Obi Wan thought about Mos Eisley: You will never find a more wretched hive of scum and villainy."

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19 minutes ago, powderfreak said:

Yeah I just wander around mountains all day. This is new to me.  I just picture investing like Wolf of Wall Street... total mayhem, drugs and cash. 

That’s a better life than sitting in front of a screen worrying about red candles in your portfolio.

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Real estate is outrageous right now. I bid on a property in Salisbury that got 25 offers after one weekend and a bid $45k over asking on a $365k listing won. (The winning bid wasn’t me)

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7 minutes ago, ORH_wxman said:

Zillow thinks our modest 3 bedroom raised ranch is worth like half a million bucks....lol. We bought it 4 years ago for 345k. There's no supply on the market right now which is part of the issue. As soon as anything within a sniff of 500k goes on the market, it's gone around here...usually in a bidding war/all cash offers. 500 is the new 400 these days.

My brother bought in Lowell in 2015 for $265k. Zillow now thinks his house is worth $445k!

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Glad to hear folks are getting in, making a little scratch, and getting out. If you think of this like a casino and learn to control your gambling impulses, things will have a better chance of working out.

I hate to sound like someone's grandpa, but I still don't think trading in ideas that literally have zero realistic underpinning (such as shitcoins and Gamestop) will ever be more than a slot machine. Probably even less reliable than a slot machine, actually. There is not enough GenZ meme power in the entire universe to change the basic fact that humans ultimately want things that have real tangible value, in the long term.

There is so much fakery in the market today, and things are getting way too overheated again. Another one that is silly is the NFT craze. Many of these things being sold have zero real value.

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2 hours ago, CoastalWx said:

It's not meant in that way, obviously.  It's like hoping for a tornado to rip shit up. You don't want to see the lives of people get torn upside down. It's just the principle of it.

I liken it more to hoping the tornado intercept vehicle goes to the moon... yeah there will be some collateral damage, but play stupid games...

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33 minutes ago, RUNNAWAYICEBERG said:

Get into other cryptos have that more long term stability. Cardano or Stella are cheap. There are others. Buy like 50 coins and then look 10years from now to see if your kids colleges are paid off from a $100-$200 gamble at the crypto casino. Also coinbase gives you free coins when you watch their videos. You’ll learn a little and realize some of this has actual staying power.

https://www.google.com/amp/s/finance.yahoo.com/amphtml/news/10-best-cryptocurrencies-invest-2021-143026001.html

 Yep. My first $150 bitcoin purchase from 2016 is now worth over $20k. I bought a bunch in early 2016 when it was in the $300-400 range and never sold. 

 

 

20210505_101445.jpg

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3 minutes ago, BrianW said:

 

 Yep. My first $150 bitcoin purchase from 2016 is now worth over $20k. I bought a bunch in early 2016 when it was in the $300-400 range and never sold. 

 

 

20210505_101445.jpg

Nice. Let that take you to the moon. 

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25 minutes ago, ORH_wxman said:

Zillow thinks our modest 3 bedroom raised ranch is worth like half a million bucks....lol. We bought it 4 years ago for 345k. There's no supply on the market right now which is part of the issue. As soon as anything within a sniff of 500k goes on the market, it's gone around here...usually in a bidding war/all cash offers. 500 is the new 400 these days.

it's insane around here-even more so than the 2006 peak.    Stuff that went for 500K now goes for 650 or even 700K in hours.   Literally no inventory....

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7 minutes ago, BrianW said:

 

 Yep. My first $150 bitcoin purchase from 2016 is now worth over $20k. I bought a bunch in early 2016 when it was in the $300-400 range and never sold. 

 

 

20210505_101445.jpg

A lot of people did this just for kicks and now have tens of thousands in BTC. 

Those are the stories people love to hear and that causes them to buy in aka FOMO.

We never hear about the 90% of stories that end with people losing money. 

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Folks should sell their houses high and move to Burptown where it's still nice and cheap.  Sure snowfall will be hit and miss, but we're practically Kansas in the warm season

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39 minutes ago, ORH_wxman said:

Zillow thinks our modest 3 bedroom raised ranch is worth like half a million bucks....lol. We bought it 4 years ago for 345k. There's no supply on the market right now which is part of the issue. As soon as anything within a sniff of 500k goes on the market, it's gone around here...usually in a bidding war/all cash offers. 500 is the new 400 these days.

Problem is where would you go if you sold it for 500K, you'd just get into a bidding war with the others who took advantage of selling their house for top dollar. If I had a place to go that wasn't expensive I'd sell now and hunker down for a few years. 

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38 minutes ago, Hoth said:

I did work for a PE shop that involved delisted companies a long time ago. I had lunch with our counsel one day in my first week and I still remember something he said about the Pink Sheets we targeted, but which could just as easily be ascribed to Wall Street generally. He said,  "We operate in a pretty dark corner of the market. You need to think about these target companies the way Obi Wan thought about Mos Eisley: You will never find a more wretched hive of scum and villainy."

Pinks are the wild west of stock trading, I dabbled in the penny stocks for a short while and decided it wasn't for me.

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22 minutes ago, DavisStraight said:

Problem is where would you go if you sold it for 500K, you'd just get into a bidding war with the others who took advantage of selling their house for top dollar. If I had a place to go that wasn't expensive I'd sell now and hunker down for a few years. 

Tornado ravaged Hamden, CT is still relatively cheap, mainly because our town finances and property taxes are a disaster.

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Can anyone explain to me why Bill Hwang is still a free man? You would think defrauding a half dozen banks to the tune of billions would be enough to warrant a warrant, but apparently not.

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