Nick Maggiulli
@dollarsanddata
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Helping people build wealth since 2017. Author of Just Keep Buying:
Joined December 2016
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My book, Just Keep Buying, is now available:
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You think the Gamestop short squeeze is the greatest ever? Not. Even. Close.
This is the story of Piggly Wiggly and one man taking on Wall Street ALONE.
Buckle up, because this is one of the craziest stories in investment history.
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I was honestly shocked.
The R^2 on the model is still 1
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Perfect case study of how “Everyone feels like a genius in a bull market”
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There's only one thing that can save the market now
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Update: Putting all 3 U.S. stimulus checks into Dogecoin now exceeds $500,000
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So are these "unrealized capital gains" here in the room with us now?
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If you think wealthy families stay wealthy forever, consider this:
"When 120 of Cornelius Vanderbilt's descendants gathered at Vanderbilt University in 1973 for the first family reunion, there was not a millionaire among them."
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Free speech is down 34% over the last year
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Vanguard is trending right now because they now "own" more shares of Twitter than Elon Musk. Lots of people are saying that this as an attack against free speech.
Can someone just please teach people what a custodian is? This is getting ridiculous.
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I have a few friends that are millionaires in their early 30s. None of them:
Follow a strict morning routine
Track their expenses
Have an elaborate note-taking system
All of them:
Owned significant equity in a company (and sold that equity)
Makes you think.
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Did a hedge fund write this?
New York City could see between 2 inches and 20 inches of snow this weekend.
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One of the worst arguments I've seen is that you should own gold or Bitcoin in case of societal collapse. I can promise you that both will be worthless in this scenario.
Internet money and a shiny rock only have value in a functioning civilization, not the apocalypse.
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Every person who became a millionaire by 30 had at least one of the following:
(1) inheritance/parental support
(2) a very high income
(3) a large income event (i.e. crypto, IPO)
If they attribute their success to anything else, they are lying.
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The S&P 500 has returned 29% this year. Only 3 hedge funds on this list have beaten this.
Thanks for playing!
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If you had put each of the 3 U.S. stimulus checks into Dogecoin, it would be worth over $300,000 right now
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The richest man in the world went to space today all because Borders had a terrible business model
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Not wordle, just my portfolio lately
🟥⬜️⬜️⬜️⬜️
⬜️🟥⬜️⬜️⬜️
⬜️🟥⬜️⬜️⬜️
⬜️⬜️🟥⬜️⬜️
⬜️⬜️⬜️🟥⬜️
⬜️⬜️⬜️⬜️🟥
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Holy crap! Some guy shouted “Buybacks are just another form of dividends!” and then this happened
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This is the deli in New Jersey that is currently trading at a $100 million market cap under $HWIN (they have one store and $35k in annual sales)
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Now do Congress
BREAKING: The Federal Reserve is banning policymakers and senior officials from owning individual stocks.
Finally.
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Personal finance tip: Anytime I splurge on something I take the same amount of money and invest it. So if I want to buy a $400 pair of shoes, I also have to buy $400 worth of stocks.
If you want to buy something nice, you have to afford it twice. I call this The 2x Rule.
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Ladies and Gentlemen, the time has come
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Every time Elon tweets about science/energy/etc, I assume he is right since I have no expertise there.
But then I see a very incorrect tweet like this (where I do have some expertise) and it makes me wonder how wrong he might be about everything else.
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If you think the Bezos family (+ future generations) will be rich forever, consider this:
"When 120 of Cornelius Vanderbilt's descendants gathered at Vanderbilt University in 1973 for the first family reunion, there was not a millionaire among them."
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Since this commercial aired (October 2020), ARKK is down 36% and the S&P 500 is up 27%
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Best career advice I've heard:
-Lie to people who want to be lied to, and you’ll get rich
-Tell the truth to those who want the truth, and you’ll make a living
-Tell the truth to those who want to be lied to, and you’ll go broke
Choose wisely.
(h/t
@jasonzweigwsj
's father)
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This Christmas as you watch Die Hard, just remember that the only reason the film has a plot is because the terrorists wanted bonds that still had yield after rates collapsed by the late 80s. Also Japan was assumed to be taking over the world.
Markets rule everything.
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I was in the airport today in NYC and overheard a TSA agent talking to his colleagues about why they shouldn’t buy the dip.
Then he said he read it from some guy on Twitter named Nick “Magooli”.
I smiled, grabbed my bag, and walked away.
The internet is absolutely incredible.
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I’ve already had this convo 4 times in the last week
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The time has come
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Just saw a woman with a full on gas mask jaywalk through the middle of moving traffic in NYC and I don’t think I understand risk tolerance anymore.
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And for the record my "paper hands" smell like USD.
You know that thing you use to pay your mortgage, buy food, and for just about everything else.
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When I was 23 years old I wanted to have half a million dollars by age 30. Last weekend I turned 31. I didn't make it.
My latest on not meeting your financial goals, relative wealth, and happiness:
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For context: we could end homelessness in the US for about $20 billion
TALIBAN SEIZED AN ESTIMATED $80 BILLION IN U.S MILITARY EQUIPMENT AND ARMS AFTER AFGHANISTAN TAKEOVER -FBN
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A retirement truth no one wants to talk about:
Once you have some base level of financial security, your day to day happiness in retirement will be impacted more by your relationships, your hobbies, and your sense of purpose than your financial assets.
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Only 5% of millionaires are under 40.
Only 1% are 30 or younger.
The average age of all millionaires is 62.
Don't forget this on your way to financial freedom.
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sorry not sorry
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Told my wealthiest friend that I was flying first class for the first time ever cause it wasn’t that much more expensive than coach and he immediately replied:
“First class in a pandemic isn’t first class.”
I still haven’t recovered from it.
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In the end, Saunders will go down as the man who pulled off “The Last Great Corner.”
If you liked this story, you can read the full version in “Business Adventures” by John Brooks:
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In the United States, the median Black household WITH a college degree has a net worth similar to the median White household WITHOUT a high school diploma.
If we want to fix social inequality we have to fix economic inequality as well.
My latest:
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The greatest perpetuator of wealth inequality in the U.S. is the stepped-up basis rule.
Basically when you die all the capital gains on your assets (home, stocks, etc.) are erased. Your heirs get your assets as if they were purchased on the date of your death.
Truly insane.
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Probably one of the most difficult things I've ever written.
On alcohol dependence, social anxiety, and being honest about your problems:
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I've owned over 100 individual stocks in the last 25 years.
When I look back at all of them, I wish I had spent 100% of that time owning index funds.
I'd be richer, more skilled and fulfilled.
Stonks are a distraction until you achieve personal satisfaction.
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Steven Tyler, the lead singer of Aerosmith, spent over $6M on cocaine throughout his life.
If he had invested that money ($10k/month for 50 years) into the S&P 500 instead he'd have over $170 million today.
Lesson: don't do cocaine
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Want a FREE signed copy of my book?
♥️ Like this post
🔁 Retweet it
➡️ Follow me (so I can DM you)
In 24 hours, I'll pick a winner at random and mail it to them
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My limit buy order on Ethereum hit today at $2,000. Excited for what's next.
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This is the most powerful blog post
@morganhousel
has ever written. I don't say that lightly. If there is one thing you should spend time reading today, it's this:
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The 2022 net worth data for U.S. households was just released:
25th pct = $27,000 (was $12,410 in 2019)
50th pct = $192,700 (was $121,760)
75th pct = $659,000 (was $404,100)
90th pct = $1,936,900 (was $1,219,500)
99th pct = $13,615,400 (was $11,121,100)
Blog coming next week
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Gentlemen, future Valentine’s Day tip:
Cook for her and make a custom menu.
Trust me, she will love it.
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I stopped buying active investments (individual stocks, etc.) when I realized that they monopolized most of my attention. Despite being a small % of my portfolio, I watched them all the time.
This is why I went passive and you should too. You can't put a price on mental freedom.
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Every year I compile my absolute favorite investment writing and 2021 was a year unlike any other.
Like this, RT it, save it for later. Whatever you do, don't miss out on these incredible pieces.
My Favorite Investment Writing of 2021:
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Bitcoin actually fixes this
Border agents nab woman smuggling $414,000 in a Toyota Prius
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My mom just called and asked whether “some 20 year old gamer kid named Robinhood crashed the stock market from his bedroom.”
And, at that moment, I realized it was just easier to say “Yes.”
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Alexa, show me a visual representation of the stock market over the last 10 years:
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My Dad told me yesterday that he likes to hedge his SPY exposure by buying VOO and I still haven't recovered from it.
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If you had invested $100 a month into the S&P 500 since the beginning of 2022, guess how much your portfolio is down by as of the end of February 2023?
$32 or 2%.
Just.
Keep.
Buying.
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Portnoy inadvertently joining FinTwit is the best thing that has come out of this so far
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Pre-sale of my book Just Keep Buying is now available:
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This is the most embarrassing day in the history of this country
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There comes a point in every investor’s journey when they must admit that they were wrong about something. I was wrong on Bitcoin.
My latest on why Bitcoin is here to stay, what we might expect from it going forward, and the right way to invest in it:
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There’s a lot of investing material to make fun of on TikTok (and I mean A LOT), but this isn’t it.
I’m astonished at the level of intelligence on tik tok
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How I remember the difference between Type I and Type II error
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You literally can't come up with a better advertisement for decentralized assets/platforms than what is happening today.
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My number 1 piece of career advice to catapult your career:
Reduce uncertainty for others as much as you can.
Become an uncertainty killer.
I guarantee that if you can make other peoples’ lives more certain, you will build trust at every turn and create allies wherever you go.
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And people wonder why they say the media is fake news. No one checks anything anymore! Not even basic math.
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Lastly, thank you for reading and happy investing!
If you liked this story, you can get more of my insights by signing up for my weekly newsletter:
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I started drinking alcohol when I was 14 years old. I quit in February. This post is on the importance of knowing yourself.
My latest:
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How I think about levels of wealth (note:x axis is log scale)
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Does any company have worst designers than Salesforce?
Huge props to the geniuses who started the year filter in 1900.
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Everyone out here complaining about Disney World ticket prices has no concept of value.
$3.50 in 1971 would be $24 today. So prices have gone up ~5x since 1971, but how much better is the park today than back then?
5x better? No. Probably 100x better. This is deflation.
Disney World opened 50 years ago today.
Admission in 1971: $3.50
Admission in 2021: $109
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Bitcoin might be off its all time highs, but over the last 3 years it has outperformed the S&P 500 by over 20%.
April Fools!
Actually, the S&P 500 has outperformed Bitcoin by over 20% in the last 3 years.
Thanks for playing!
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One of the best things I ever did for my financial mental health was not care about purchases below 0.01% (1/10,000th) of my net worth.
So, if you have $10k, you shouldn't think twice about spending $1. If you have $100k, don't worry about $10, etc.
I call this the 0.01% Rule.
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A friend text me: "Finally the bonds in my portfolio are serving a purpose."
No, the bonds were always serving a purpose. You just didn't realize it until now.
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All the permabears are coming out now and saying, “I told you so.”
It’s just too bad that not a single one of their theories is the reason why we are in the current sell off.
But don’t worry, they will congratulate themselves anyways.
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Every year I compile my absolute favorite investment writing of the year and 2020 is no exception. Like this, RT it, save it for later. Whatever works, just don't miss out on these amazing pieces.
My Favorite Investment Writing of 2020:
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Wealthy people wake up one and day and realize that no one cares what they have to say.
All that money and no public influence. So they go on a mad quest to be valued for their opinions (and not just their resources).
This explains a lot of what we see on Twitter.
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"If you’re not willing to react with equanimity to a market price decline of 50% two or three times a century, you’re not fit to be a common shareholder and you deserve the mediocre result you’re going to get."
-Charlie Munger
RIP to one of the greatest of all time
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I'm tired of the threads, the engagement bait, and the growth hacking on here (and everywhere else).
My latest on why you don't need to follow trends to be successful:
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The number of people that can't tell the difference between a month over month change and a year over year change is a bit concerning.
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