My read is the whole $50 v $1M was a joke, followed by someone taking it seriously, followed by a bunch of people taking that guy seriously, followed by more jokes, followed by more people thinking those guys were serious. How many times can you laught at, “I don’t think you understand scale” ?
eta: a lot
ITUB is creeping up the mentions list on WSB. It also has a forward looking P/E of 12 and pays a dividend so isn’t the usual trash. You can get July 16 8$ options for 8c right now. I loaded up with 60 contracts.
I know absolutely nothing about the company though.
Isn’t the stock being trash kind of a pre-req for wsb interest?
serious Q
I haven’t really done a dig into reddit on this one and the rationale for why it is getting mentioned. It is pretty high up on the swaggy stocks list and has cheap options. That’s about all the due diligence I do these days.
Yes it would be odd to have it be an actual value play based on it coming from WSB.
ETA- This appears to be the ITUB WSB due diligence:
Tech is going absolutely bonkers
Good enough for me. Bought some contracts here too 
I don’t think so but my read could be wrong. I think those are just entrepreneurial people that got into FIRE. If you compared the proportion of entrepreneurial folks in a standard distribution to one composed of FIRE folks, I’ll agree that the FIRE group will bend slightly more entrepreneurial, but I don’t think it’s pervasive.
My read is the majority are striving towards moving away from all work as quick as possible, but having a side hustle/second job still isn’t standard. I think the most common side hustle I see in that community is real estate/landlording for whatever reason, but a lot of those folks get responses like “why would you want to do rent houses to people? you out’cha damn mind?” One key though is that “as quick as possible”, since I’m sure that motivates some folks to start a side hustle because it could shorten the time to cross that finish line. I just don’t think it’s that many people grinding side hustles compared to other populations of folks.
I mean the nice thing about buying options for 8c is if it doesn’t pan out none of us will be out much.
Yes, look up gamma squeeze
ITUB? More like ITUB of shit amirite?
FIRE people are like 90% software engineers making 6 figures who still drive a 2005 toyota corolla and most arent even on social media unless you count reddit. Side hustle people are mostly MLM scammers who use social media to promote their scam. there is not much of an overlap there.
There is a class of really weak FIRE plans where part of their “plan” is to monetize their blogs and YouTube channels as part of their “retired” income.
Yeah maybe it’s just that the people blogging are the only FIRE people I run across except for occasionally reading MMM years ago. And a lot of the bloggers are into the side hustle thing. I also think a lot of the FIRE bloggers seem pretty intelligent, although a little overly optimistic.
Doubled down on my ELY bets with the drop today. It’s pretty much a full YOLO of my meme account now, lol. I should probably do some actual research that is more than just reading rosy 10-Qs and reinforcing Reddit posts.
I’m confused. Saving, investing, creating additional sources of income, and eventually gaining financial independence are somehow bad things?
What is the point of investing in stonks then?
?
Who said any of that is bad?
The people dumping on FIRE and side hustles, which is basically those things.
I watched some YouTube videos and they say just buy a laundromat and some vending machines and you’ll make a killing in no time.
My problem with FIRE is are you really just retiring and not trying to make a dime the rest of your life? Because that seems boring to me. I just don’t get into non-exercise hobbies that much unless there’s some chance of it making money (photography, poker, writing).
Assuming a lot of them pursue other interests, FIRE may not be the best acronym. I like - Semi-Financial Independence, Drop Out of the Ratrace. SFIDOR
I drive a 10 year old civic and eat ramen noodles but IM FREE BABY