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Now silver (XAG) started to spike. Thank you Reddit for uniting and teaching them a financial lesson.
I kind of got into Tesla repairs when I found a treasure trove of salvage Teslas in HK. I've owned a Tesla since 2016 and it lives in a country where there's no Tesla service, so I got to know a lot of the guys who were able to do service / repair work on it. Computer work was always their struggling point, and something I figured I was able to help with. So I learned how to hack (root) the car's computer and perform all kinds of diagnostics, configuration changes and software updates. And this allows for easier / faster repair.
So I ended up making deals with garages in HK where I was able to buy parts or entire crashed cars from them.
Over time, this led to me ending up fixing a bunch of cars. Why 7 now? Well I have 2 for myself in Lithuania, 2 in Hong Kong (which I lease out), and 3 which I am trying to sell. The other 3 are currently in the process of being stripped for parts to be sold.
A few months back (October I believe), I even posted here about building a 'DIY' UPS made from Tesla batteries. I got a lot of crap for it, with people saying that it's dangerous, and I'll end up blowing up my DC or what not. Yeah... So I never really followed up on that. But for that project I pulled 2 packs out of 2 salvage cars and wanted to build a 150kwh UPS, and get rid of our diesel generator, which takes a stupid amount of space. In the space our generator uses, I calculated we could easily build a battery bank of over 1MWH, which would be more than enough to replace our generator for the duration we actually need backup power for. Any way.. the 150kwh UPS was scaled back to just 20kwh due to time constraints. I'll expand the capacity later. I ended up selling the other 130kwh.
It's a lot of fun. More fun than just hosting! I can tell you that!
Any way. if anyone wants to buy a Model X in the UK, I have 2 of them for sale
I have a different opinion of non trained people working on "smart" cars, especially in the computers. We don't need fucking hackers cutting corners and trying to make F1 race cars. Swap in a certified part? No problem. Adjust some internal limits to get to 60mph faster? GTFO.
Not saying you're irresponsible, just saying it's inevitable that there's deaths from improper repairs and modifications and "hacking". Insurance companies are going to try and wipe themselves of liability from those types of accidents and the victims will be the ones to suffer.
That's because you dont know what's being done, or what can be done. I actually help out quite a few official Tesla Service workers. They are given all the tools they need to do their jobs, but they're locked out of much of the car, so it can be helpful for them to know someone who can bypass their restrictions.
Not with Teslas. What you can do is limited by software, hardware, and a lot of security that prevents you (at least easily) bypassing safe limits). The only exception is if you want to fool the car into thinking the airbags are working when they're not. But that's just the nature of how airbags work. It's not a software hack, it's hardware one. I dont know anyone who repairs cars so improperly that they don't use a proper, functional, airbag.
Not at all. The car's are known to have been previously in accidents, and if they are unrepairable, then they never get back on the road. If they are repairable, then if you show the repairs, they get certified as road worthy again. So it's all above board.
But the thing about Teslas, is more often than not, they get written off for superficial damage. About 1/2 the cars I pickup, it's just body damage. The cars still drive. No chassis damage. So just need to swap a fender, a door, maybe head lights, respray and done. They get written off because insurance companies get quotes on repairs from Tesla direct and they charge a fortune for parts and service. But if you can get a hold of second hand parts (which insurance companies dont do) and do it yourself, it becomes much cheaper. It's crazy!
monkE strong!!!!
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you're still hodling with those aver. $121 cost per share?
Diamond Hands Bruh!
91.25
The crash was/is inevitable. But I somehow don't believe the short sellers were able to cover so quickly with such low volume.
Didn't you say the stock can be borrowed to be shorted? I'm thinking most of the short sellers never closed their positions since they can just wait for the eventual crash and pay the borrowing fees which won't bankrupt them.
yes, naked shorts. and they can't wait infinitely. they bleed money / can get margin called. which would be the peak of a squeeze when they have to buy it back.
Short interest still seems to be 120% though. I'm thinking the bigger players won't be too concerned about margin calls. Didn't melvin capital get a bailout? (Probably just to let them hold their position, since everyone knows it's a bubble)
I'm actually curious how the short interest is calculated. I doubt naked shorting is happening (i.e. lending a stock to short without owning the stock) It's probably people buying (or even rebuying) the stock to sell shorts. Then there's the market makers who don't really make transactions and they likely can close positions without buying the stock. (In this case it would be naked shorting but I suspect these market makers' shorts aren't accounted for in short interest) Basically, I doubt the squeeze is gonna happen the way WSB wants it to.
we'll see, no one knows. the only thing for certain is melvin was down 50% for january and needed a bailout. clearly bleeding.
so, are you still holding?
diamond hands
Have recently read (or better say skimmed) over so many posts of people who lost quite a bit or all of their money which makes it just another accumulation of wealth as those having profited aren't only students or entrepreneurs, hence I expect fed to take strong action against this form (both manipulation by retails and overselling).
Only thing fed is doing right now is pumping more money, ~120B monthly so these retards have more to bet
There are three ways to solve this Economic problem
1. let the poor take the damage
2. increase taxes on the rich
3. print money
1 and 2 will make it more difficult to recover the economy, so 3 is the way to go.
🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍
Given the now well proven over many many decades fact that the rich have a high propensity to push up asset prices and to avoid risk, the latter being needed to reinject life into a fading or failing economy, I fail to see how the "untax the rich for progress" mantra has any traction whatsoever today. It is a complete fallacy.
In this era of globalization, the rich have the ability to lower their taxes. More importantly, large players have the ability to transfer their money and business to other countries. The richest people are hidden in the shadows in the form of family funds, and no one knows how much money they really have.
The middle class does not have the above conditions, the tax on the rich is not chop on the rich, only on the middle class. The end result is that the country faces the loss of richer and the loss of vitality of the middle class. The result is bound to be an even greater wealth gap. This is observation of Japan in the past few decades.
I don't oppose taxes on the rich, if they can really hit the rich. I just hope it doesn't happen to me and my family.
And to think I almost fucked my life up with OTC stocks...
You lot are actually stupid. Plus all the people who took out mortgages etc.
Well, I should have invested in GameStop when I had the chance.
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I had an uncle that was a very successful engineer and nearing retirement. He played the stock market and bought into some Vancouver company that was supposed to be the next big chat company or some shit. This was years ago.
He got in when it was pennies and mortgaged his house to buy more stock. It went to $10 a share and he was up something like 10 million. He cashed out like $8k for his wife to take some friends to Vegas for the weekend.
My uncle said it was going to $100/share. The rest of the family and relatives got in between $2-$10 a share based on his opinion and how he went all in.
Company I guess was a bust and went tits up. He (and all our families) lost it ALL (didn't even take out enough to cover his mortgage!). He had to go back to work instead of retiring with millions. Fucking asshole.
We should learn at least three things in this case
1. Different age groups can take different risks, When we are young, we can be a little more aggressive. But when you have a family, you should be more conservative. And don't forget the insurance. Even if any bad thing happens, you still have money to leave to your family. If you are still a student, you can only take zero risk.
2. Don't put all eggs in a basket
3. "Value investing" is not suitable for small business. Even the best angel funds have less than 1% success rate. We can only hope that the giants will become bigger giants rather than a normal people become giant.
Notes that $GME is not a stock game but a poker, if most people can Strong hold, then it will work. But as it probably turned out, another Prisoner's Dilemma.
🚀
I take a very Karpovian view of investing.
I invest in boring things like index ETFs and target date retirement funds. Thinking of putting some money into Prosper (A-rated borrowers only). I'd rather have an average safe 6-8% over many years than a chance for higher, because 6-8% is all you need to grow to retirement.
Investing slow-and-steady over a lifetime is surefire. I'm retiring in at age 59, so I guess I did something right. If I'd stuck to that philosophy earlier in my life I'd be retiring sooner (but of course, no one is wise in his 20s).
still holding 3 shares btw