The “Ask Casinostocks a question” thread

What are your thoughts on casino stocks? Will $MGM crash further? Should I buy put options or sell call options?

 

This requires a semi-thoughtful answer:

The handle Casinostocks was created when I was day trading stocks in my younger days. I was too lazy to think of something else when I joined this Site back in 2016 so just as a joke I created an account here, not expecting to stick around for long at all, yet here we are! Actually, the nomenclature has very little to do with stocks in a casino or any casino for that matter but it was conjured up as a sort of a gaffe and joke believing that playing the markets is akin to parlaying in casino type gambling games.

Now regarding playing with any individual stocks: unless you have solid insider information (to go long or short) for which if caught you will go to prison, my advice would be to avoid playing them as if it were a plague! In fact, if you lose your $ by going to a casino, you may get comp'ed a room and some meals if you play for long enough. In the markets, you will be lucky to get lubed up before you get royally, eh, hm, ah, ha! If you're an average working stiff and can take advantage of saving schemes such as Roth IRA and similar, then contribute your max yearly toward your eventual retirement, buy the indices like S&P and then salivate over the growth of your portfolio in the long term, count your paper wealth but knowing that to cash out before its maturity, you will be penalized like an a**hole. In fact, Wall Street types don't like giving any money back to anyone and once that whole sum balloons to a sizable amount after 25 years, they will come up with other schemes to generate you an income stream and doing their preventative best to dissuade you from cashing out in totality.

If you have entrepreneurial aspirations and vision, always invest others' monies and a bit of your own in your own business rather than investing in others' schemes. Work hard, pay attention to trends and offer the kinda good & services which will be much more rewarding than piggy backing individual stocks as a retail customer, unless you have had great tangible experience by playing the insiders games and are well adept at level 3 trading (level 2 is not good enough). I have been outta the game for a long time so what I was yammering on about are 15+ years old information based on personal experiences.

ETA: for every AMZN, APPL, FaceFuck and Goog, there are a massive litany of failures and losers which get cut out of the indices so that you never know the casualties, only the heroes!

#stillnotnathan
#nathanstillnotcasinostocks

 

This is good advice if you want to play conservatively or if you’re close to retirement. Prioritize maxing your 401k and Roth IRA and put it in a target date fund or an index fund that mimics the S&P and it will give you steady returns, which is good enough for most people. You’ve got the right idea there.

However, I don’t necessarily agree with the blanket statement of avoiding stocks like the plague. After establishing your emergency fund and tax-deferred retirement accounts, you should definitely own stocks; otherwise, you’re missing out on huge investment income. For the average person, stonks are one of the best way to invest right now — beats real estate, gold/silver, cryptocurrency, etc. There are safe and easy strategies anyone can pick up to profit off this illogical and irrational bull market.

I do anticipate that the market soon will catch up to the economy and stonks will tank hard — including the seemingly unstoppable tech sector. When that happens, you can hedge your stocks with covered options. There’s a responsible way for investing in individual stocks. Don’t invest what you can’t afford to lose. The value of the dollar is dropping hard because of all of the artificial dollars being pumped into the economy by the Fed. Stocks are a good way to keep your hard-earned money from losing value — whether we are in a bull or bear market.

But yes, you can’t go wrong with investing in the S&P500 funds like $VTI or $SPY, but I’d recommend buying into at least a few individual companies that you like — like Amazon, Apple, or Tesla. Hell, I might even buy some casino, airline, or cruise stonks because once covid is over and things normalize again, they will go back up and it would be a 300% gain in a couple of years.

Btw, if you still have level 3 trading, I’m buying long-term put debit spreads on $SPY because I believe the market will have a mini crash near elections.

 

So, what then if you can't afford to lose any money? You're just f'd?

Rock and a hard place? Invest and watch it burn, or invest in bitcoin and maybe watch it burn?

Invest in physical metals and deal with having to liquefy assets when you need to go to the store?

I want to throw up when I think of where the economy is going.

 

I am all out of that game apart from the very conservative retirement stuff. I do prefer your less conventional spelling as stonk as opposed to stock(s)

One lesson which I have leaned by now as a primary maxim is NEVER FIGHT THE FED. When the FED pumps liquidity into the markets, do not fight it an in fact roll with it. I was being very simplistic in my advocate/none-advocate positions regarding individual stocks but in reality a knowledgeable, informed, sophisticated and disciplined investor can and does make $.

 

It depends on how risk averse you are and when you plan on retiring. If you’re investing long term, stocks historically always go up. After the next crash, buy some S&P index funds like Casinostocks suggested and leave it there and ignore it.

If you have an appetite for risk, buy some crypto when it falls a bit and forget about it.

I buy gold and silver from trusted online vendors and it’s easy to sell back to them. Precious metals are rallying because of the falling value of the dollar. I think this will continue.

100% right. J.Powell can wave his magic wand and trillions of phantom dollars will appear out of thin air.

 

I dont trust crypto at all. I dont think I'll ever retire. I need to purchase a property pretty far away asap... were all fucked.

 

Would love to see a collection photo or at least some eye candy of a few of your favourite gems in the same photo @Casinostocks

 

I admit that I have a "numbers" problem! Whenever my CPKs reached a certain number of units in the past, I thought that I was over the proverbial line (some arbitrary line in order for me to just BS myself) I would start purging multiples. Thereafter remorse would set in, I would feel inadequate and naked while mired in remorse and regret, and then I'd start buying again and eventually I'd end up exactly back where I had started from

That said, yes Sir I will do that for you. I am waiting for a couple of CPKs which are in the pipeline, so please give me a week or so? Oh and one more thing: if I ever go broke and then faced with the specter of keeping a handful of CPKs, I'll be keeping an EDC1, DEK1, OGFK, FK2 (OG over version 2 if strictly a handful) HDFK and MC which means that the "grail" UFs / Shiv and all the other Choppers would go. This sentiment may surprise you, yeah?!

 

PS. If or when I finally grow the fooque up or if reincarnated in which BS I don't believe in, I'd like to come back as @Mike157 's knives storage

 

Please note: at times Nathan stumbles into this thread because he mistakes ACSAQ thread with ANAQ thread. I have admonished him in the past but I don't have the power to bar him from this thread. If he happens to wander in here to answer questions directed at CS with his nerdish penchant for steel and knives, please excuse him for his unintended transgressions; he really means well but he also gets lost around his own sub!

 

Curious as to why the UF and Shiv would go!(?)
Are they the least favourite of yours or do you have less use for them?

 

If I hit the skid row, I would want to keep the sorta knives which offer utility over form. I absolutely adore both the UF and the Shiv and chased both like a bandit in those years when both were very rare grail-like CPKs. For bragging rights, those two plus dagger, sword all day but for practical everyday use? The others as I had mentioned.

 

Surely, Mat, or is it Mat, surely..... you mean’t Brother Bob’s collection. I’m guessing that it is late and you’re a bit tired.

 

I have 5 UF's and 5 sons.
When I die I want them equally irritated when I'm buried with them all

 

Wow! 5 as in FIVE??? That's a whole lotta UFs!!! ImPrEsSiVe!

 

What’s your favorite CPK to date?

What future offering are you looking forward to the most?

 

If a gun was held to my head during a home burglary robbery (I did say gun, duh me!) and the choice was to lose them all forever but one, I would settle on the HDFK. It's the one so far which seems to be the best utilitarian unless we are talking about everyday tradesman jobs. Foe these folks, the EDC and the field knives offer more utility.

I am really looking to Nathan's first folder.

 

Wouldn't that be #nathansnotafolder?

 

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