I’m out of the oil stonks business. My escalating stop-loss system triggered this morning. It will take a covid-level plunge to get me back in.
Fingers crossed!
why didn’t I buy here I said it and we’re doing it I guess.
now it’s like eh I ain’t risking this I still hate those stocks there’s just not much there but it’s all about where you’re at in the pump and dump cycle
rip stonks
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God I hope not. I need prices as low as they can go the next 24 months.
Im sitting on a lot more cash than I wanted (any cash whatsoever) and now i’m capitulating. I was layering in as the stonks were dipping but didnt move all in. Never doubt stonks
Easiest correction ever?
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Can someone explain even the theoretical justification for banning stock buybacks? What an idiotic fucking policy.
The best theoretical argument I believe is that financial markets and corporate leverage should be regulated, “excessive” leverage is bad, and most buybacks are financed with debt. It doesn’t hurt that, on top of this, using buybacks instead of dividends to reward shareholders is a tax subsidy to shareholders, although that would arguably be best solved by changing tax rules.
it’s just added debt to goose the stock price to reward themselves with giant bonuses that are based on stock price
There is no empirical support for this position.
The complaint seems to be CEOs are overpaid? Of course they are. Having MORE cash on the books will somehow fix this?
I’ll accept the tax arbitrage is bullshit - address it directly.
I think it’s less about bonuses based on stock price and more about bonuses based on per share metrics - such as EPS. If a bonus is based on EPS, then a stock dividend won’t help meet that metric, but a buyback will, so there is an incentive for companies to do a buyback instead to help achieve those bonus targets.
Here is a Reuters analysis (from 2015) looking at the issue. Almost half the companies on the S&P 500 used EPS or another per share metric for bonuses. The article notes a few instances where without the buybacks, executive compensation would have suffered due to missing EPS targets.
THE GREAT AND GLORIOUS MARKET PROVIDETH!! DEATH TO NONBELIEVERS!!!
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My portfolio is once again less than 1% from the same ceiling I’ve bounced off at least 7 times. This time I have about 15% dry powder due to just onloading my oil stonks. So I’m gonna hold that, and wait to put it back in until we have our usual mini-crash that ends up down 10-15%.
So clearly this is going to be the time we bust through the ceiling like an exploding boiler. Place your bets accordingly.
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Looks like CLVS is finally mooning. Is anyone still holding it? I sold mine a long time ago.
lol i sold mine, every once and a while i check it. its still lower than when we bought isnt it? i forget tbh
Well it’s up 50% today.
Oops nevermind that was an hour ago. Only up 36% now.
Way lower then our buys last year, I still have some
I think it was around $10(or at least much higher than $2) when we were playing it as a possible meme/squeeze stonk so it is down like 80% even with today’s stonkening.
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