Friday Finance 8/12/2022: Making some moves
It is time again for another Finance Friday/Friday Finance. This is a series I started where I talk about random bits of financial stuff that I have seen, gathered, or experienced during the week. I hope as a reader you find it informational, entertaining, or both. I also hope it can generate some good discussion and edify the Leo community.
It actually feels kind of good to be sitting at my desk on a Friday to write this post instead of off somewhere exploring nature or camping. No really, there is something about routine that just feels good sometimes.
Of course it is all going to get shaken up again next week when I head off on our last camping trip of the summer.
It's been an interesting week for sure. BTC was brushing that $25K mark and then following @edicted's prophesy from long ago, the Sturgeon Super Moon or whatever it is called showed up and brought with it a lot of red on my charts.
The moon was impressive if you got a chance to see it. We had a perfectly clear night where I live, so on my way into work it was shinning brighter than the sun.
Investment Moves
I got an email from one of my investment managers this week saying that he wanted to talk to me about one of my holdings. Typically when this happens it means he thinks I have enough of one holding and he wants me to start putting my weekly draw into something else.
That wasn't the case this time. Instead, he was suggesting that we move my investment in AEPGX EuroPacific Growth Fund over into AWSHX The Washington Mutual Investors Fund. His concern stemmed from the general volatility that the Asian markets are going through right now and he wanted to look for something more stable. Either that or he is getting a big commission right now for moving people into Washington Mutual Fund. It could really be either.
Anyway, I was a bit skeptical at first about pulling all of my shares and reducing my diversity. It wasn't until I looked at my overall portfolio that I realize I still have global market exposure in a couple of my other funds, so it isn't a huge deal.
Funny story:
I used to own some Washington Mutual Fund, but like a fool I sold it a long time ago to buy something else (Apple maybe?) Probably not the biggest mistake I have ever made, but looking at the capital gains and dividends every year for the fund I have always kind of regretted selling it.
No need to feel that way anymore as I am now the proud owner of a couple hundred shares of The Washington Mutual Investors Fund again.
HBD Goal Met
I've been working for a while now to reach the goal of having 5000 HBD tucked away in savings. For a while things were moving very well, it was Football and College Basketball season in the US and I was earning extra income each week from my sports account posts. Then those seasons ended and I was back to relying on my main account to grow my HBD.
I realize 5000 HBD isn't much compared to what some people have tucked away in their savings account, but it still should earn me about 1000 extra HBD per year and that isn't anything to be mad about. Plus, I plan on adding to it, so it will just keep growing.
I know we should all use what happened with LUNA as a cautionary tale, but my ultimate scenario would go something like this:
These new announcements and collaborations from Splinterlands drive the price of SPS up to something like $3 per token. I sell two thirds of my stack into HBD and I move that into the savings account. That would give me something like $40,000 per year in interest at the current rate of 20%.
Not bad eh?
Honestly, I think it is probably a long shot for SPS to reach those levels. I think it will go up, but maybe not that high. Crazier things have happened in crypto though am I right?
It could be any of the tokens I hold. It does't have to be SPS, either way, my plan is to move a good portion over into HBD to give me a substantial form of passive income.
Earnings Reports
It seems a lot of companies are coming out with their earnings reports this time of year. @cryptictruth already touched on the fact that Coinbase had a per share earnings of something like -$4.00 or something like that. I really didn't even know that companies could have a negative per share earning.
How does that work? Do they take money back from the shareholders?
Many of the other companies that I have small holdings of in my Robinhood account also reported per share earnings in the negative numbers. I don't think any were as big as the Coinbase loss, but negative is negative no matter how you look at it!
Anyway, fingers crossed things turn around and quarter four brings us all a little more prosperity both in the traditional and the crypto markets!
Sports Talk Social - @bozz.sports
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!CTP
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Nice now I have two....just need to wait till it´s beer o´clock !CTP
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:) It was beer o clock for me last night. I had a couple tall draft Shiner Bock's. I always forget how good that stuff is.
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EPS in US stocks are not necessarily distributed to the owners, but the market often reflects them in the price. Negative EPS is merely a loss for the quarter (the spent more than they made after adjustments). What moves specifically is SplinterLands making that you think will drive the price of SPS up I hope you are correct 5K HPD sounds like a dream I have to monitor my RC very closely to keep from running too low in any one day.
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They recently announced a partnership with some sports thing and by association major league soccer. I had heard something about an airdrop of the new token to SPS holders. People trying to maximize their SPS stack could drive the price up. Splinterlands is also going to be releasing another set of cards that can only be purchased with SPS, plus land play and all of that could impact the price.
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Just as you DCA into the market, remember to DCA out of the market a bit. Can't go broke when you have taken profits.
Yeah, great point. I need to do a better job of DCA'ing when things are up.
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Well, about the talk with your investment manager you both should think it through well. I like the way you added up your HBD in order to earn passively from saving them. And keep it growing just like you said.
Since you said this piece happens every friday, then I'd be here for more Fridays to see and learn from your posts.
Keep up the good work @bozz
Yeah, I have been doing it for a while now. Sometimes Friday's I have more content than others. Once things slow down with all of my traveling I will probably ease back into a good groove.
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No problem, let's see how it goes..!
Finally beer o clock over here! 8% Dutch Kingsbeer nothing fancy but so good and Ice Cold !CTP
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Sounds delicious!
That would be awesome with SPS!!! And a very smart move with HBD!!!
Yeah fingers crossed we even see a fraction of that action!
Glad you took time off from camping to share this post. It is full of good information. Thanks for sharing.
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Thank you!
Congratulations on your HBD goal and I don't think SPS will move to like $3 per token. There is just way too much SPS laying around but I do agree that there will be some pumps when more details are released.
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Yeah,$3 felt like a bit of a pipe dream to me too!