Does Oppo Stonks?

[HFV_Junkyardin]

So I just got into the stock market Tuesday so I’m pretty new to it. I had some money that was going to go into a savings account and figured why not try something that had a little more potential to earn or at least keep up with inflation. I’m not trying to do a daytrading hustle but if I seen opportunity I’m gonna take it. I saw yesterday that Peces had taken it 42% dip. So I had to #BuyTheDip. And it’s worked out pretty well for me. Should we start a new post Stocks category?
I also got about five shares a Rivian and those are working out pretty well. Also GM has been a real winner for me.
I did get burned dabbling in crypto and I don’t plan on getting back into it I sold one little crypto I had this morning and put that into Rivian, GM, and paysafe.

[MybirdIStheword]

@hfv I haz some bitcoin. But no. I need to get into stonks. Or maybe I shouldn't, I seem to be shit at it.

[Tripper]

@hfv I do but only at the suggestion of my savy colleagues and I treat it like I treat gambling, like its gambling

[HFV_Junkyardin]

@mybirdistheword pull out your Bitcoin it’s going to crash and burn soon. Back down to like 20k I’d bet. But that’s just my probably useless opinion.

[PowderHound]

@hfv The few times that I have any "excess" money that I would put in to the stock market, car parts call my name. So no, other than my 401k I do not stonks. I buy depreciating assets

[HFV_Junkyardin]

@tripper it is gambling. Just more socially acceptable.

[jminer]

@hfv I started a couple years ago, Robinhood has made it way easier to kick in a few bucks here and there with making the industry move to zero fees (mostly).

Advice from someone smarter than me is to invest in index funds or Industries you know and understand.

I started kicking in $50 a month as just kind of fun money that I wouldn't miss and grabbed stocks I understood mostly and I've done well.

Like others have said though don't ever put in more than you're afraid to loose, it's just legal gambling.

[TheJWT]

I have some money (very little) in Lucid which has been doing pretty well lately. I think I've made like $50 total though. I also have about 750 XRP, but that never seems to be doing anything. Most of my money is just in low risk ETFs. I realized pretty quickly that actually making money trading requires a hell of a lot more effort than I'm willing to put in.

[beefchips]

@hfv personally I like index-tracking funds because they reflect the overall health of the economy which is easy for me to understand. I don't understand why individual companies' stocks are priced the way they are, so I steer clear.

[MybirdIStheword]

@hfv you know what? I think you may be right.

[BicycleBuck]

@hfv

The best advice I've seen is to invest in an Index fund, add some every paycheck, and leave it alone. The index funds have consistently outperformed managed funds.

Trying to outguess the market is nearly impossible.

[ttyymmnn]

@hfv

Buy low and sell high.

That's all I got.

[HFV_Junkyardin]

@bicyclebuck you’re the second person that’s told me that and it seems very reasonable but I still don’t know what an indexed fund is or how to set one up

[gettingoldercarguy]

@bicyclebuck exactly this. Index funds over time will be a great friend when you get older.

[SilentbutnotreallyDeadly]

@hfv
We don't play stocks though we do have Cochlear shares that M'lady picked up a decade ago. Our stock market investments are limited to managed funds through Vanguard.

[CobraJoe]

@hfv I've been playing in the stock market for 2 months now, and I learned a couple things: I like playing with the high risk stuff better (I have a 401k for the long term), and it's easier to pay attention to a small number of stocks.

My biggest wins were with Lucid, I bought in when the first reviews were coming out. Now I have a few shares of Rivian too, but not enough to add up to much yet.

[CobraJoe]

@hfv said in Does Oppo Stonks?:

@tripper it is gambling. Just more socially acceptable.

And also with better odds.

[CarsOfFortLangley]

@hfv I do stonk. I started in late March 2021, YTD I'm up 13.5% with an average of $375 a month in dividends as well (some monthly, others quaterly)

My mix is about 50/50 ETF's and individual stocks.

[beefchips]

@hfv said in Does Oppo Stonks?:

@bicyclebuck you’re the second person that’s told me that and it seems very reasonable but I still don’t know what an indexed fund is or how to set one up

Ah, so an "index fund" is a type of investment fund run by a brokerage. They set it up and let people deposit their money into the fund. There are lots of different strategies for how these funds might invest the money and an index fund has the strategy of simply buying the stocks that are included in a specific index, like the Dow Jones or the S&P500. That means that the value of the index fund moves in lock step with the value of the Dow Jones that you hear on the news every evening. You hear "the Dow gained 1.4% today..." and you know you just made 1.4%. Neat!

The way to invest in these is first to set up an account with a brokerage that offers them. For example, I have a Schwab account. You go to the website and look for either ETFs or Mutual Funds and boom you're there.

There's a couple things to keep in mind with these. First, the fee is a percentage of your capital every year. So if you invest 100 grand in a fund with a 1% fee, you pay $1000 at the end of the year whether the investment pays off or not. Index funds with their very simple strategy have very very low fees, like 0.05%. That's a different fee structure than you picking your own stocks and then buying through a broker, where buying or selling shares might cost a few dollars per trade.

Also, keep in mind that some funds don't let investors pull their money out for a certain period of time, or very quickly. An ETF or Exchange Traded Fund is an investment fund where you buy in using the machinery of a stock exchange, and that enables you to sell quickly whenever you want.

[VincentMalamute]

@hfv Keep in mind that everyone is a stock expert in a bull market. Everyone was a genius daytrader in the years leading up the 2008 crash.

Most of my money is in a diversified set of index stock funds and index bond funds. I've got some in individual stocks when I was playing for fun before I figured out it's just gambling.

[Eric]

I have a bunch of accounts, mostly retirement.

Don’t ask me for advice, I am not very good at it. A lot of the gains the last couple years are just inflation making itself visible.

[HFV_Junkyardin]

@beefchips very helpful thanks I’ve done a bit of my own research too. I’ll be putting what I have left to invest in an ETF and an international index fund.