It's a really concerning situation. Mainstream media is very quiet about this too. The average person isn't following financial news where most of these articles are posted.
Apocalypse Investment thread.
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Goes past just that one port. It's all ports and issues with trains and trucking across the country as well.
They just cancelled shipments today. To help relieve issues, all shipments to Chicago were cancelled. Try again in October.
Unless you are some huge company with special contracts, you are probably screwed.
Earlier I was talking to a company we deal with that is a manufacturer. They have materials in Michigan. They were told by the freight carrier that the shipment from Michigan to them in New York would take 3-4 weeks. Just the shipping time.
They just cancelled shipments today. To help relieve issues, all shipments to Chicago were cancelled. Try again in October.
Unless you are some huge company with special contracts, you are probably screwed.
Earlier I was talking to a company we deal with that is a manufacturer. They have materials in Michigan. They were told by the freight carrier that the shipment from Michigan to them in New York would take 3-4 weeks. Just the shipping time.
I'm in the HVAC business and work for a large company that is growing mostly through acquisitions, but also organically. About 2 years ago we were bought by a private equity firm and I was given the option to invest into the company. I didn't think much of it and threw 10k in. Well, 2 years later we were bought out again by the 2nd largest private equity firm in the world and the multiplier for my investment was x5.05. I really felt sick to my stomach that I didn't throw in a shit ton more, but oh well. Quite a few of my coworkers are now absolutely loaded! So I was also given the option to reinvest in the new merger yet again, and this time I rolled over all my earnings and threw another 50k into it making a total of 100k invested. If we can hit that same 5x growth in 2 years I'll be happy...lol.
Any of you here have any private equity investments?
Any of you here have any private equity investments?
Lots of low hanging fruit today........
Funny to see GME at $185. Nearly a guarantee to hop back to $200+ since inflation/ world economy collapse/ basically have no bearing on it lol
Funny to see GME at $185. Nearly a guarantee to hop back to $200+ since inflation/ world economy collapse/ basically have no bearing on it lol
I'm not a financial genius, but at some point it's going to make sense to just start making stuff domestically again. What good is saving a few pennies on a widget by importing them globally when you can't get them.
Had a funny joke with
FIST TAGTA if he sold his Corvette Grand Sport the min we were talking for 40k and dumped every penny into UAL at that very minute apx at 2:20pm (909 shares), it would have made him about $70 as the stock wasn't very affected but this RED day. Few mins later it went up to $200, then $400, then $700 lol. Obviously cap gain tax and what not but its just funny when you make stupid jokes and stuff mildly takes off and its like wow... thats actually wild . Obviously a 1.66% profit is shit but in a span of 40 mins till the closing bell it was fun especially on a TERRIBLE trading day.
FIST TAGTA if he sold his Corvette Grand Sport the min we were talking for 40k and dumped every penny into UAL at that very minute apx at 2:20pm (909 shares), it would have made him about $70 as the stock wasn't very affected but this RED day. Few mins later it went up to $200, then $400, then $700 lol. Obviously cap gain tax and what not but its just funny when you make stupid jokes and stuff mildly takes off and its like wow... thats actually wild . Obviously a 1.66% profit is shit but in a span of 40 mins till the closing bell it was fun especially on a TERRIBLE trading day.
Unfortunately, I could most likely have made a killing with the $SPY falling. But had to pick up the cow (butchered) that my in-law and myself buys every year. At least I'm stocked up on a bunch of meat for the year now. Lol. After everything is said and done, we paid about $1.80/lb.
The entire Russell index came down which in turn almost every stock associated with it is down (doesn't mean all will be). Competitors is also down as well. The entire market pulled back because of inflation fears, economic conditions, tapering plans, ect. Today the overall market showed signs of strength for the first time in a couple/few weeks. Looking to see that extend further upwards which can bring positive sentiment throughout the market.
With $MVIS, still waiting on news of customer or revenue. Next announcement I would believe to be when the earnings call will be. Hopefully good news on that ER.
I have no idea about this IPO. I would have to look into it.
i have no interest in rivian at this time really, esp during IPO. in general now those seem to be listed, pumped, dropped... so i don't find being early on for an IPO too enticing generally speaking now.
i love snowflake and planned to buy its stock - thinking nobody would know some nerd database at listing, instead it went on to be the highest IPO evar, i had friends from hs asking about it, it was in my mom's motley fool newsletter, etc. in any case, i am surprised some orgs have not run to it like i think they should - i literally used to sell $1m racks of gear where snowflake is competitive at with you spending a few bucks and swiping your own credit card - not sure if i know some insider info now or not, but i also know something else they are working on that would make them pretty sexy. i still have a hard time coming in at the current share price though. the whole market tanking would cause me to take a bite though.
i recently did some small bits of private investment. actually there is a wefunder campaign for some vr stuff i invested in prior that is currently raising money - via this crowdfund site you do not need to be an accredited investor either. anyone can invest $500-2200 iirc, or more based on income/net worth.
there are a couple new crowdfunding or peer investing platforms i'd like to try out, forgot what they were but saved them on my phone. i have a little in prosper.com and lendingclub.com, the latter of which changed their business model at least a year ago. i should get on that as a research project. especially if either have historic data i could apply some machine learning goodness to. that could double as me writing a good blog post as well.
i love snowflake and planned to buy its stock - thinking nobody would know some nerd database at listing, instead it went on to be the highest IPO evar, i had friends from hs asking about it, it was in my mom's motley fool newsletter, etc. in any case, i am surprised some orgs have not run to it like i think they should - i literally used to sell $1m racks of gear where snowflake is competitive at with you spending a few bucks and swiping your own credit card - not sure if i know some insider info now or not, but i also know something else they are working on that would make them pretty sexy. i still have a hard time coming in at the current share price though. the whole market tanking would cause me to take a bite though.
i recently did some small bits of private investment. actually there is a wefunder campaign for some vr stuff i invested in prior that is currently raising money - via this crowdfund site you do not need to be an accredited investor either. anyone can invest $500-2200 iirc, or more based on income/net worth.
there are a couple new crowdfunding or peer investing platforms i'd like to try out, forgot what they were but saved them on my phone. i have a little in prosper.com and lendingclub.com, the latter of which changed their business model at least a year ago. i should get on that as a research project. especially if either have historic data i could apply some machine learning goodness to. that could double as me writing a good blog post as well.
I haven't looked at Rivian much, but did put a little money (~$1,000) into Lucid Motors. After the GME and AMC madness a few months ago, I sold and put my remaining cash that I didn't lose into CCIV which later turned into Lucid motors. They have solid leadership and some impressive claims about their products so far. I didn't do much DD though. Since I'm only playing with small money, I basically just made a YOLO buy and am letting it ride for the long term to see what happens.
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