Jeff Bezos Sells $10 Billion Off Amazon So Far In 2020

[Economy 52,854]

https://www.google.ca/amp/s/www.cnbc.com/amp/2020/11/04/bezos-sells-more-than-3-billion-worth-of-amazon-shares-.html

 

This update was made a few weeks ago already but I forgot to post it and no one else ever did to my knowledge

 

Anyway Jeff Bezos the richest man in the world recently sold $3 Billion of stock off Amazon for a total of $10 Billion in 2020 so far to fund other investments and indevers

 

His ownership of Amazon is now down to 12% tho that still makes him the largest shareholder

[MonsterofFame 1,797]

Good move. Stocks that doubled/tripled this year were probably due to everyone having nothing else to spend their money on due to the pandemic. It's probably going to burst next year when everyone wants to cash out to spend their money on restaurants, concerts, travel, and all the other things we used to.

[Economy 52,854]

1 minute ago, MonsterofFame said:

Good move. Stocks that doubled/tripled this year were probably due to everyone having nothing else to spend their money on due to the pandemic. It's probably going to burst next year when everyone wants to cash out to spend their money on restaurants, concerts, travel, and all the other things we used to.

Yeah I might have done the same in his shoes tbh

 

Im still beating myself because I considered Netflix, Tesla and Amazon stocks years ago and didn't end up buying them simply because I didn't have money for every stock I wanted so I had to choose some to not go for

 

The ones I didn't buy are the ones that skyrocketed the most

[MonsterofFame 1,797]

Just now, Economy said:

Yeah I might have done the same in his shoes tbh

 

Im still beating myself because I considered Netflix, Tesla and Amazon stocks years ago and didn't end up buying them simply because I didn't have money for every stock I wanted so I had to choose some to not go for

 

The ones I didn't buy are the ones that skyrocketed the most

I feel you. I wanted to buy a bunch of stock when the market crashed at the beginning of covid but I didn't have enough to risk losing it. Better safe than sorry though, you did the right thing.

[Economy 52,854]

6 minutes ago, MonsterofFame said:

I feel you. I wanted to buy a bunch of stock when the market crashed at the beginning of covid but I didn't have enough to risk losing it. Better safe than sorry though, you did the right thing.

Yeah this was years ago before I got married that I bought some but not the ones that skyrocketed I talked about

 

At the beggining of Covid I was unemployed and in debt so I didn't buy any stock period

[GagaSine 7,464]

Is there any point of buying stock of you’re poor? I assume the amount of profit you could make from a small amount of money is not worth it.

[Economy 52,854]

10 minutes ago, GagaSine said:

Is there any point of buying stock of you’re poor? I assume the amount of profit you could make from a small amount of money is not worth it.

How much are u talking? Platforms have transaction fees so a stock isn't worth it usually if ur only gonna buy $200 or $300 worth of it cuz then u need the stock to go up a fair bit just to pay the fees. Most accounts for these types of investments also have quarterly fees too like $25 every 3 months

 

If u wanna invest but have only a limited amount of money I always felt mutual funds were better for that. They already come diversified and you can put smaller amounts of money into them. They are also ideal for ppl who don't know much about the market (even if they do have larger amounts of money to put into it)

 

Also if u do it thru a simple mutual fund TFSA account thru a bank for example I believe those don't have quarterly fees if I'm not mistaken but I'm not 100% sure

[jylee 66]

1 hour ago, GagaSine said:

Is there any point of buying stock of you’re poor? I assume the amount of profit you could make from a small amount of money is not worth it.

You should be thinking of investments in the mid-long term. E.g. 10-30+ years. You’re really just counting on the time you have to allow for compounding and the fact that the stock markets trend up over time. It’s easier to save if you start early because of that. It also means though you’ll have to take the emotion out of short term losses and gains cause timing the market is...rough. 

As @Economy mentioned, there are mutual funds which can reduce risk of your stock picks bombing by investing in a basket multiple companies, but they involve a management fee that’s taken as a % of the value of the total fund (MER fees). You can look at ETFs too which are similar, but tend to have lower management fees and are traded like stocks. There are also robo-investors which are funds that are managed by algorithms or something at much lower fees than traditional funds. 

There are quite a few sites that offer guides on self-investing. It’d be good to read even if you use an advisor as it’ll help you understand what’s happening to your money. There are also platforms that offer zero-low commission trading (without quarterly fees).

Depending where you are, different registered accounts may be available to you which can work as tax breaks; basically the government’s way of encouraging people to save. TFSAs, RRSPs, RESPs are all examples in Canada; 401(k) an example in America

That being said, it’s only useful if you’re able to save money in the first place. If you have limited funds, it should be used first on bills and debts. If you can save and you don’t need the money in the short term (<3-5 years), then investments are the best way to go

 

[Economy 52,854]

9 minutes ago, jylee said:

You should be thinking of investments in the mid-long term. E.g. 10-30+ years. You’re really just counting on the time you have to allow for compounding and the fact that the stock markets trend up over time. It’s easier to save if you start early because of that. It also means though you’ll have to take the emotion out of short term losses and gains cause timing the market is...rough. 

As @Economy mentioned, there are mutual funds which can reduce risk of your stock picks bombing by investing in a basket multiple companies, but they involve a management fee that’s taken as a % of the value of the total fund (MER fees). You can look at ETFs too which are similar, but tend to have lower management fees and are traded like stocks. There are also robo-investors which are funds that are managed by algorithms or something at much lower fees than traditional funds. 

There are quite a few sites that offer guides on self-investing. It’d be good to read even if you use an advisor as it’ll help you understand what’s happening to your money. There are also platforms that offer zero-low commission trading (without quarterly fees).

Depending where you are, different registered accounts may be available to you which can work as tax breaks; basically the government’s way of encouraging people to save. TFSAs, RRSPs, RESPs are all examples in Canada.

That being said, it’s only useful if you’re able to save money in the first place. If you have limited funds, it should be used first on bills and debts. If you can save and you don’t need the money in the short term (<3-5 years), then investments are the best way to go

 

@GagaSine Yes mutual funds have MER fees which usually are paid for automatically with lower returns. Over the long term if you hold a certain amount they tend to add up to be higher then doing your own stocks

 

However because they are usually a percentage not a flat rate (and we gotta consider the quarterly fees for stock trading accounts) when ur talking about small amounts of money the fees for stock transactions and account fees are worse in my opinion

 

There's also the diversification factor to consider if you only have a small amount to put into which u cannot diversify with stocks if u only have small amounts to invest at a time

 

I brought up mutual funds because he said he was poor and mutual funds is something you can literally put in $25 or $30 a month into them at a time and add up over time... 

 

Stocks are usually not worth it unless u can buy at least $1000 worth per transaction at a time minimum. Maybe as low as $500 in some of the cheaper platforms. That's just 1 stock. U need a few to be diversified so that's a few thousand dollars off the bat

 

Even if he can afford multiple $500 to $1000 lump sums there's also the issue of how much does he understand about the market to make wise picks?

 

There's many options out there and u can always talk to a financial advisor from a bank (they are usually free) to give u advice (but don't let them push u too hard into something you don't want) to make your own decision. I certainly don't wanna sway u too hard

 

I'm just saying if u don't have large amounts of money to put in and your knowledge is limited, mutual funds might make a lot more sense. U can always sell them and go into stocks later once ur more comfortable with understanding of the market or when u have enough money to diversify in stocks and to be worth the transaction fees

 

That's what I did. At 19 I started with mutual funds. When I felt I was ready for stocks I sold my mutual funds then did my own stocks. Then I became broke after that but that was due to marriage and employment issues not my investment decisions

 

[GagaSine 7,464]

I appreciate all the advice @Economy & @jylee

i have $17 000 in a savings account but i’m scared of losing any of it. Maybe once I save more than $20 000 I will play with it a little.

[Economy 52,854]

6 hours ago, GagaSine said:

I appreciate all the advice @Economy & @jylee

i have $17 000 in a savings account but i’m scared of losing any of it. Maybe once I save more than $20 000 I will play with it a little.

Nice! Your ahead of me ATM

 

Yeah that's a large enough amount to do stocks if you wanted to. But if your scared of loosing any it suggests your risk tolerance isn't very high...

 

There's investments that are lower risk than stocks but still gets u better returns than a savings account so it's all worth looking at

 

Anyway if u have any more questions lemme know. I once was gonna become a financial advisor so I know a fair bit. But again financial advisors at banks are generally free so u could take advantage. Again just don't let them push u too hard in a direction you don't wanna go tho cuz they do have a tendency of doing that sometimes

 

[Guest]

Why doesnt he try to eradicate famine

[Guest]

8 hours ago, Economy said:

How much are u talking? Platforms have transaction fees so a stock isn't worth it usually if ur only gonna buy $200 or $300 worth of it cuz then u need the stock to go up a fair bit just to pay the fees. Most accounts for these types of investments also have quarterly fees too like $25 every 3 months

 

If u wanna invest but have only a limited amount of money I always felt mutual funds were better for that. They already come diversified and you can put smaller amounts of money into them. They are also ideal for ppl who don't know much about the market (even if they do have larger amounts of money to put into it)

 

Also if u do it thru a simple mutual fund TFSA account thru a bank for example I believe those don't have quarterly fees if I'm not mistaken but I'm not 100% sure

Have u tried investing ur money in stocks economy?

[Better Day 5,766]

Looking forward to the day that Amazon collapses, evil and corrupt company with far too much money and market share. With places like Amazon, it is putting people out of jobs 

[Economy 52,854]

6 hours ago, KanyeWest said:

Have u tried investing ur money in stocks economy?

Yes. I been doing it for years since I was 21

 

I stopped for a while when I got broke because of my divorce and unemployment but as a general rule I always owned stocks since then