Comments by "Wandering Existence" (@WanderingExistence) on "CNBC Television"
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Wage labor is renting yourself via "self ownership". Employment is literally renting another human being as if they're property. The employer-employee relationship is a very insidious dynamic. Employment is a rental contract, like if you rented capital (say, a chainsaw from Home Depot), you pay rent for the "time preference" (basically the cost of time) for a piece of property. Capitalism is based on a principle of self ownership, which sounds empowering, until you realize that most people don't own enough capital goods to make enough income other than themselves, and must rent out the authority over themselves as pieces of "human capital". This is a process of dehumanization where human beings are valued for their return on investment as capital goods. This is why, at the very least, capitalism needs unions and safety nets (or abolishment), or else the system won't value people for their human value. Importantly we must also think about our sick, elderly, and disabled people, as they can't provide competitive economic return for the investor class to value. We must figure out a way to cooperate and change this economic system if we wish to value each other.
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@louislong1514 Before the crash ARk was up 700%... Which is in between the two examples you gave. And before you go saying then I'm neglecting the crash... Volatility is what I expected when I bought it- longer time horizons are specifically made to adjust for more volatility, that's why it's a caveat that she always says. Yes, I'm down +30%, does it hurt a little, sure... Does it worry me, No. Because I believe in the underlying technologies that are driving the companies that her and her research team are picking. Are all of the companies good, certainly not, but she doesn't have to bat a 1000.
The biggest problem that I see with ark is that people run into her funds when prices are going up and they run out when things are cheap- that's exactly why Peter Lynch closed the Magellan fund. I buy and hold until my conviction changes or the opportunity cost vs benefit analysis changes. It's not even like I'm all in either, ARK funds make up less than 6% of my holdings, it's an okay bet sizing for the risk. I also held AAPL and NFLX for 4 years, so it's not like I missed gains. I'm late to NDVA, but it's a high conviction triple bagger in the next decade, so I have some now.
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@CouchInvestor "A document leaked to TechCrunch revealed that Palantir's clients as of 2013 included at least twelve groups within the U.S. government, including the CIA, the DHS, the NSA, the FBI, the CDC, the Marine Corps, the Air Force, the Special Operations Command, the United States Military Academy, the Joint Improvised-Threat Defeat Organization and Allies, the Recovery Accountability and Transparency Board and the National Center for Missing and Exploited Children. However, at the time, the United States Army continued to use its own data analysis tool.[29] Also, according to TechCrunch, the U.S. spy agencies such as the CIA and FBI were linked for the first time with Palantir software, as their databases had previously been "siloed."[29]"
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@HateTheIRS Cool, thanks for sharing. My taxable account is on a 5-10yr horizon so I can hopefully put a down payment on a house. I know growth companies face some headwind in the short term but I think my top holdings I've chosen have good management and ride on trends that will push them through.
My Roth has 34yrs before I can draw on the gains, so it's aggressively growth oriented, holding QQQM, SMH, AMD, ARK funds, ETHE (Ethereum trust), NDAQ, and some other small moon bets. XLY looks like a good addition- You also gave me the idea to add VUG to the Roth for better diversification than the Qs, thanks. Switching to dividends is pretty far out for me, when I do need low volatility and some dividends I like VIG. Although I plan to keep many of these risk on bets, I do plan to add to lower risk assets with future contributions.
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