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James Cordier, the guy behind this fiasco, wrote a book on selling options. The best part of his marketing is this: > Option-Selling Strategy and Risk Management Choosing the right options to sell, the most powerfulspread strategies, the mechanics of selling, and protecting yourself from downside risk like a pro
but if you don't want to, here's the wikipedia article
My friend recommended me this when I first started, but the truth is all the reading in the world isn't going to give you real-world experience. Start small, do your research, thorough research. Learn about greeks, IV, when to take profit, ect. Study the stocks you're interested in and know about, don't worry about trying to follow someone else's trades on a company you know nothing about.
Personally, I started small with 250 and made smart choices to bump it up to 2400 in three weeks, but I got cocky and didn't fully research an investment so I lost 1000 in one trade. If I had kept a level head I would have noticed that there was a significant short interest trying to drive the stock down and the low volume added fuel to the fire. Undervalued or not, hedge funds with billions to throw around can influence the stock price of most companies quite a bit, always be aware of that.
Once you gain some experience and understanding, day trading with the current level of volatility is pretty easy albeit risky at times. Just remember to not gamble with money you can't afford to lose. It may be boring but I keep about 5/6ths of my portfolio in equity that I rarely touch. For every one person you see on this sub that turns 40k into 250k on a MU yolo, there are ten others that turned their 40k into 0k. Be smart and goodluck!
The whole computer revolution is due to federal research funding in this sector. He especially received so much benefit to improvements in semiconductors and memory that is due to government research. The Entrepreneurial State: Debunking Public vs. Private Sector Myths (Anthem Other Canon Economics) https://www.amazon.com/dp/0857282522/ref=cm_sw_r_cp_api_i_VlJsCbC01MTP5 is a fascinating book on the topic. Freakonomics did a podcast with her too http://freakonomics.com/podcast/mariana-mazzucato/
Pour ceux qui veulent en savoir plus sur les dangers de l'austérité pure, je recommande le livre de l'économiste politique Écossait Mark Blyth: <em>Austerity, the history of a dangerous idea</em>
Aussi, il existe des centaines de vidéos <em>Youtube sur Mark Blyth</em>.
Petite clarification sur ce que j'ai dit:
Ce que le Gouvernement Québécois (Libéral) a fait de bien c'est qu'il a économisé durant une période de richesse économique afin d'avoir un "coussin" pour la prochaine crise qui pourrait avoir lieu... Il faut faire de l'austérité (ou de la rigueur budgétaire) quand les choses vont bien afin d'avoir de l'argent à dépenser quand les choses vont mal pour supporter l'économie.
Bon point pour le Gouvernement Couillard et aussi bon point pour le Gouvernement de la CAQ qui n'a pas tout dépensé dans son premier budget.
Option Volatility and Pricing: Advanced Trading Strategies and Techniques, 2nd Edition https://www.amazon.com/dp/0071818774/ref=cm_sw_r_cp_api_glt_fabc_06VNJSD6Y5PX7GKD0SF8
Can’t recommend this one enough. I’ve read it multiple times and always come back to it if i have questions.
Option Volatility and Pricing - Sheldon Natenberg
Can be a little heavy but for anything you can find on YouTube acts as a good fill in the gaps.
depending on how much time you want to spend on it: https://textbookbasics.com/product/options-futures-and-other-derivatives-9th-edition-2014-by-john-c-hull/?utm_source=Google%20Shopping&utm_campaign=Textbookbasics&utm_medium=cpc&utm_term=2560&gclid=Cj0KCQiA9P__BRC0ARIsAEZ6irg7mZAYl...
it's difficult af and you have to be able to follow along ito integrals and shit. But it'll give you a fundamental understanding.
If you don't want to go through that slog, you can get a much more practical view with https://www.amazon.com/Option-Volatility-Pricing-Strategies-Techniques/dp/0071818774
https://www.amazon.com/How-Make-Money-Stocks-Winning/dp/0071614133
If you really don't know anything, read some books. The above book, while espousing a particular system, is actually chock full of good insights.
Sorry for your daughter's condition. But your post is vague. Is there some long term expense or just say 2-3 years of cancer expenses? This matters a lot since medical bills rise faster than inflation.
Assuming its 2-3 years you want to do a relatively normal long term growth portfolio with most of this money and a small chunk for rapid depletion. For the normal portfolio my recommended first book is: https://smile.amazon.com/Four-Pillars-Investing-Building-Portfolio-ebook/dp/B0041842TW
If on the other hand it is 10-15k from $300k inflation adjusted or more for decades then entirely different situation. That's an income portfolio. Most of the the book above will still apply but some of it won't. Income is harder but income investing theory assumes you already know growth investing.
I was recommending learning about asset allocation. There are tons of sources but my goto first book recommendation is: https://www.amazon.com/Four-Pillars-Investing-Building-Portfolio-ebook/dp/B0041842TW
I'd get a book on asset allocation. You'll need to decide on what index. Between mainstream providers tracking similar indexes there isn't much difference.
My advice on a first book is: https://www.amazon.com/Four-Pillars-Investing-Building-Portfolio-ebook/dp/B0041842TW/
It's infuriating that Conservatives still haul out Klein's "you don't buy groceries with your savings" line as if it explains the economy. If every politician read Stephanie Kelton's The Deficit Myth, our world might actually start moving forward.
Blah blah blah. "The money supply!!!"
Do me a favor and google fractional reserve banking, and find out what percentage banks are required to hold back for lending, then tell me who's printing dollars.
And then, parse "too much money chasing too few goods" not just in terms of money supply, but also in terms of commodity supply.
Gee whiz, it sure looks like the money printer was already on high and productivity took the biggest hit we've ever seen in the global pandemic, but what do I know? I've just read The Deficit Myth by Stephanie Kelton and have heard of the Broken Window Fallacy.
/r/im14andthisisdeep
​
https://www.amazon.com/Entrepreneurial-State-Debunking-Private-Economics/dp/0857282522
Recomand.
I know what Monero is and I suggest it to people that really want to use cryptocurrencies for anything that is not speculation.
The problem is people don't know what fiat money is.
Fiat money means welfare state, full employment, free healthcare and education, democracy, national sovereignty. For an introduction to (fiat) monetary systems check this book.
The Euan Sinclair books will.do the math, but not super in-depth, if you want a practical treatment of how they can be used with real options trading:
Volatility Trading Positional Options Trading
InB4 everyone else recommends the Natenberg book:
Option Volatility and Pricing: Advanced Trading Strategies and Techniques, 2nd Edition
https://www.amazon.com/Option-Volatility-Pricing-Strategies-Techniques/dp/0071818774
Please do not buy any ILPs. Protection (Insurance) should always be separate from Investment.
If you are 22 year old Singaporean / PR who is just starting out, make sure you have a term life insurance that covers death, disability and possibly critical illness too. Also make sure you have comprehensive medical insurance on top of basic Medishield.
In terms of investment, monthly SIP in just 3 ETFs or possibly 3 ETFs and 2 REITs will give you fully diversified portfolio that you can continue to build through your working years. One of the ETF should be linked to Fixed Income instruments whereas other 2 ETFs (eg STI ETF and CSPX listed on LSE) will be more than enough to give you necessary equity exposure.
This of course is a general guideline that I give to my own children (both are working professionals in their 20's) - please do your own research and decide.
And please do yourself a big favor. Go and get yourself 'Four Pillars of Investing by William Bernstein.
It is a must read for all retail investors no matter what their education and experience. There is a lot of smoke and mirrors in the world of investing.
Hope this helps.
I would highly recommend against this course of action if you intend to get your information from YouTube. You would need to sit with an actual book like Natenburg's and slowly learn the stuff. It took me four years before I could comfortably touch options with knowledge of what I was doing.
You can dabble of course but you're not going to be in a good place to try and sell premium for a year's worth of bills if you're doing a 30 minute crash course on YouTube. That's my advice. I do not have any YouTube recommendations.
just got done listening to the audiobook of this, I wish more people would look closer at MMT
Lol you sound like one of the idiots from /r/Superstonk
Are you serious right now? This is the kind of shit you read in the first chapter of How to Make Money in Stocks. Do you know what the Dunning Kruger effect is? Maybe you should start reading there haha
Tbh I learned the most about options from "In The Money" on YouTube. Not overly technical, and makes it easy to understand. But if you're really serious, you could check out this book I just bought; Option Volatility & Pricing
Read up on the deficit myth. It dispels your entire argument.
https://www.amazon.com/Deficit-Myth-Monetary-Peoples-Economy/dp/1541736192/ref=asc_df_1541736192/
You needn't tax anyone more, but if you did why do you have to tax everyone and not just the wealthy?
> Edit: thank you all for the help! Sounds like my best move is to transfer my IRAs from American Funds to Fidelity as they offer similar to Vanguard and I already have a 401k there
Given you already paid the load American isn't terrible. Moving away from American isn't terrible. What is terrible is flapping around aimlessly on whim / impulse.
If you invested in American via an IRA you likely paid a load to get in. Whether the original choice to go with American was the right choice or not you made it and you have sunk cost. I would breath for a second here and think. American is a good fund company. You paid the load I suspect to get access to advice. You are getting ready to switch because you didn't know what you were buying before you got in. Don't repeat that mistake by jumping without knowing what you are going to do Fidelity / Vanguard.
Don't do anything this month. Go out and buy a book on asset allocation. My general recommendation is: https://www.amazon.com/Four-Pillars-Investing-Building-Portfolio-ebook/dp/B0041842TW . From there get a target allocation.
Next decide on vehicles. Because you are in classic loaded mutual funds you can read one of the all time best books on vehicles that is unfortunately too dated most of the time but that's a plus for you: https://www.amazon.com/Bogle-Mutual-Funds-Perspectives-Intelligent-ebook/dp/B00X6BJ60K
That will help you assess where you are and where you want to be in terms of asset allocation. Talk to whomever put you in American and check your ideas out with him. Capital Group / American has some very good materials on portfolio construction which assume the basics from those two books.
Finally, if you do decide to move you need something which talks you through more modern vehicles and strategies.
There is no rush. Fidelity and Vanguard will be there in 2023. This time do it right.
First, read option volatility and pricing
Next, you might benefit from a subscription service like Flashpoint Fortunes to get started.
Yep. That’s a spread. You can do it as you describe, or you can buy and sell two calls with different strikes. Try reading options volatility and pricing
You should read Options Volatility and Pricing
There are two main "factors" which boost returns over capitalization weighted indexes: smaller stocks and value stocks. Generally the smaller the better. Microcaps do even better than smallish which do better than midcaps which do better than largecap stocks. You are absolutely right that this comes at the expense of even greater volatility in many ways a small cap or microcap fund acts a bit like a large cap fund on leverage. I should mention midcaps historically have slightly higher returns with the same volatility as large cap stocks.
While I think Bogle is very good, as he got older he got too extreme in his opinions. The book I generally recommend for people starting out is: https://www.amazon.com/Four-Pillars-Investing-Building-Portfolio-ebook/dp/B0041842TW