If only the secret to getting rich was to buy penny stocks. That would be a lot easier than working hard and maximizing your savings. So what are penny stocks, and why do people invest in them? We'll explain what a penny stock is, why the "get rich quick" logic is flawed, and break down all of the risks that come with penny stocks. What is a Penny Stock? Penny … [Read more...] about Why You Should Avoid Penny Stocks at All Costs
How To Hack Credit Cards with Reddit Churning
With so many credit cards out there, how do you decide which to sign up for? There are a lot of resources out there, such as Reddit Churning. Consider this as your guide for maximizing your credit card bonuses. If you love traveling, you'll love churning credit cards. All you have to do is sign up for new cards, spend them responsibly, and you'll be traveling for … [Read more...] about How To Hack Credit Cards with Reddit Churning
Warren Buffett Lives In a Modest House – Here’s What it Looks Like
Warren Buffett has a net worth of roughly $87 billion, but you wouldn't know it from the house he lives in. Buffett originally bought his Omaha, Nebraska home in 1958 for $31,500, which is roughly $250k in today's dollars. It's 6,570 square feet, had 5 bedrooms, and 2.5 bathrooms. Despite his $87 billion net worth, Buffett's home is worth only $653k today. His house is a … [Read more...] about Warren Buffett Lives In a Modest House – Here’s What it Looks Like
Options Trading – What’s a Box Spread?
Many people amplify their gains with options, which is popularized with YOLO bets on Reddit's Wall Street Bets. Others use options as a hedge to limit their downside risk. A box spread is a hybrid of these. Box spreads are an arbitrage strategy created by buying bull call spreads along with corresponding bear put spreads. Both spreads need to have the same strike prices and … [Read more...] about Options Trading – What’s a Box Spread?
Reddit Wall Street Bets User Turns $5k into -$58k
Reddit users on Wall Street Bets are famous for turning a lot of money into nothing, and 1RONYMAN upped the ante by realizing a -1,833% loss, turning his $5k investment into -$58k. His loss has been memorialized here, and a summary of his losses are in the image below: u/1R0NYMAN turned $5k into -$58k What is a Box Spread? When trading options, a box spread is a … [Read more...] about Reddit Wall Street Bets User Turns $5k into -$58k