Investing megathread extravaganza

[DaFace]

A place to talk about investing stuff.

[Rain Man]

It may be a good company, but my conscience will not let me invest in a vehicle with a front end like that.

[scho63]

I'm not a doom-and-gloom type of guy but the clouds of recession with a housing crash are building.

=====================================================

Consumer debt soared by $52 billion in March

https://www.cnn.com/2022/05/06/econo...rch/index.html

San Francisco (CNN Business)Americans are racking up debt at record rates.

Consumer debt levels for March 2022 climbed by $52.4 billion, an annual increase of 14%, seasonally adjusted, according to Federal Reserve data released Friday.

Revolving credit, which includes credit cards, surged by 21.4%.

Despite robust wage growth -- over the past 12 months, average hourly earnings have gone up by 5.5% -- consumers are seeing those gains eroded by the highest inflation in 40 years. The cost of food is up nearly 9% over the last year, and a gallon of gas now averages $4.279 at the pump.

Paying off credit card debt is about to get even more difficult for those who don't make the minimum monthly payment: The Federal Reserve on Wednesday announced a half-point rate hike as part of a series of actions intended to address rampant inflation. That means interest rates will rise on everything from credit cards to car loans, pressuring household budgets even further.

"All of this newfound debt that Americans have is only going to get more and more expensive in the coming months," said Matt Schulz, chief credit analyst for Lending Tree.

The rise in debt levels is likely driven by two factors, Schulz said. First, there is some pent-up spending after lockdown. Then there are other cash-strapped individuals who are turning to credit cards to pay for basic needs that have grown more expensive, he said.

"An increase in credit card debt can be a sign of confidence, or it can be a sign of concern," Schulz said. "I think we're seeing both of those simultaneously right now in this country, and it's just another example of how different people have been impacted in the wake of the pandemic."

[Buehler445]

Originally Posted by scho63

I'm not a doom-and-gloom type of guy but the clouds of recession with a housing crash are building.

=====================================================

Consumer debt soared by $52 billion in March

https://www.cnn.com/2022/05/06/econo...rch/index.html

San Francisco (CNN Business)Americans are racking up debt at record rates.

Consumer debt levels for March 2022 climbed by $52.4 billion, an annual increase of 14%, seasonally adjusted, according to Federal Reserve data released Friday.

Revolving credit, which includes credit cards, surged by 21.4%.

Despite robust wage growth -- over the past 12 months, average hourly earnings have gone up by 5.5% -- consumers are seeing those gains eroded by the highest inflation in 40 years. The cost of food is up nearly 9% over the last year, and a gallon of gas now averages $4.279 at the pump.

Paying off credit card debt is about to get even more difficult for those who don't make the minimum monthly payment: The Federal Reserve on Wednesday announced a half-point rate hike as part of a series of actions intended to address rampant inflation. That means interest rates will rise on everything from credit cards to car loans, pressuring household budgets even further.

"All of this newfound debt that Americans have is only going to get more and more expensive in the coming months," said Matt Schulz, chief credit analyst for Lending Tree.

The rise in debt levels is likely driven by two factors, Schulz said. First, there is some pent-up spending after lockdown. Then there are other cash-strapped individuals who are turning to credit cards to pay for basic needs that have grown more expensive, he said.

"An increase in credit card debt can be a sign of confidence, or it can be a sign of concern," Schulz said. "I think we're seeing both of those simultaneously right now in this country, and it's just another example of how different people have been impacted in the wake of the pandemic."

Holy balls. I was going to pop on and say it's probably guys locking in debt before the rate hike, but SON OF A BITCH 21% increase in credit? What the hell? I hope to all hell it's not the bottom end of the labor market that is getting crushed by inflation. That would bode poorly for the times to come.

[scho63]

WTF HAPPENED TO PALANTIR???

I thought this would be a great stock on what they were doing.

$7.65 ????

Jeez, this market is merciless

[chiefforlife]

Originally Posted by scho63

WTF HAPPENED TO PALANTIR???

I thought this would be a great stock on what they were doing.

$7.65 ????

Jeez, this market is merciless

This makes no sense. This company is constantly being awarded new contracts, they can literally help just about any business. Ive heard from people that use it that they are years ahead of anyone else.

I still believe in it but this is a huge test of nerve.

[scho63]

Originally Posted by chiefforlife

This makes no sense. This company is constantly being awarded new contracts, they can literally help just about any business. Ive heard from people that use it that they are years ahead of anyone else.

I still believe in it but this is a huge test of nerve.

I'm going to look at their financials and cash position -this could be a homerun in 3-4 years.

No one has really been talking about them much but I guess now they will be since earnings were not up to par.

[ThaVirus]

Originally Posted by scho63

I'm not a doom-and-gloom type of guy but the clouds of recession with a housing crash are building.

=====================================================

Consumer debt soared by $52 billion in March

https://www.cnn.com/2022/05/06/econo...rch/index.html

San Francisco (CNN Business)Americans are racking up debt at record rates.

Consumer debt levels for March 2022 climbed by $52.4 billion, an annual increase of 14%, seasonally adjusted, according to Federal Reserve data released Friday.

Revolving credit, which includes credit cards, surged by 21.4%.

Despite robust wage growth -- over the past 12 months, average hourly earnings have gone up by 5.5% -- consumers are seeing those gains eroded by the highest inflation in 40 years. The cost of food is up nearly 9% over the last year, and a gallon of gas now averages $4.279 at the pump.

Paying off credit card debt is about to get even more difficult for those who don't make the minimum monthly payment: The Federal Reserve on Wednesday announced a half-point rate hike as part of a series of actions intended to address rampant inflation. That means interest rates will rise on everything from credit cards to car loans, pressuring household budgets even further.

"All of this newfound debt that Americans have is only going to get more and more expensive in the coming months," said Matt Schulz, chief credit analyst for Lending Tree.

The rise in debt levels is likely driven by two factors, Schulz said. First, there is some pent-up spending after lockdown. Then there are other cash-strapped individuals who are turning to credit cards to pay for basic needs that have grown more expensive, he said.

"An increase in credit card debt can be a sign of confidence, or it can be a sign of concern," Schulz said. "I think we're seeing both of those simultaneously right now in this country, and it's just another example of how different people have been impacted in the wake of the pandemic."

Does this include home loans?

[scho63]

Originally Posted by ThaVirus

Does this include home loans?

I don't think so.

[Buehler445]

Originally Posted by ThaVirus

Does this include home loans?

I would think the consumer debt number would.

The revolving number that I freaked out about wouldn’t. Except for maybe a HELOC.

[ThaVirus]

Originally Posted by Buehler445

The revolving number that I freaked out about wouldn’t. Except for maybe a HELOC.

For sure. A 21% surge in credit card debt and the like is pretty concerning.

[displacedinMN]

Uff dah today.

Sent from my SM-G991U using Tapatalk

[Iconic]

Real estate is another domino that will fall I imagine. Doesn't matter what the supply is like when your average pool of buyers can barely afford milk and eggs let alone deal with the rising rates on mortgages.

Demand is going to start dwindling.

[mr. tegu]

UPST

[Hog's Gone Fishin]

I have a stuped question for the smart people here. My long term portfolio is bleeding just like everyone elses. The stocks I have are mixed , mutual funds , ETF's , tech stocks etc...

Would it be smart , right now, to go ahead and harvest for taxes and move to index funds. We know it ALWAYS goes back up. But the implication of tax harvesting is a real thing that can put money back in your pocket.

Even if you're say bag holding NFLX and just move that money over too AAPL wouldn't it benefit a person best to do that???? You're claimin the loss and getting in AAPL at a great entry.

[Rain Man]

Originally Posted by Hog's Gone Fishin

I have a stuped question for the smart people here. My long term portfolio is bleeding just like everyone elses. The stocks I have are mixed , mutual funds , ETF's , tech stocks etc...

Would it be smart , right now, to go ahead and harvest for taxes and move to index funds. We know it ALWAYS goes back up. But the implication of tax harvesting is a real thing that can put money back in your pocket.

Even if you're say bag holding NFLX and just move that money over too AAPL wouldn't it benefit a person best to do that???? You're claimin the loss and getting in AAPL at a great entry.

I never like to think about this question. My general thinking is that it's always going to be better to sell higher because I'd rather pay 15 percent of a gain than take a loss But maybe if you're wanting to sell some stuff that's still up from where you bought it, it's a good time to sell some stuff where you're losing money and offset that tax hit.

But overall, I'd rather sell everything at a gain.