The morning alarm woke up Ghen. With an annoyed sigh, he stretched out his arm and silenced the foul-sounding chirps. Slowly sitting up in bed, he let out a deep yawn and got to his feet. Running a couple of chitinous fingers along his antennae to stimulate them to life, he made his bed and then went to his closet. Today was a work day, so he needed his suit. Once the pants were on, he stretched out his wings so that he could button up the shirt, then relaxing them once all the buttons were secured. Dressing for the day was done, now for the morning meal. Entering his kitchen, he took out the chilled leftovers of the evening meal last night and popped it into the radiator, first defrosting and then slightly cooking it. During that process, he also fished out a ceramic cup and placed it in his brewer, serving himself some synthesized caffeine. His idle thought led him to being amused that, when eaten directly off a plant, it has a concentration that could kill him three times over. But after going through some refinement and roasting, all it does is make him hyper. Once the meal was put together, his plate of heated leftovers and a cup of almost-piping-hot cup of Xia's, he took his time to enjoy it. His communicator vibrated. When he looked, he found it was from his boss. "Hello?" Ghen answered. "Ghen, the meeting's been moved up to a few minutes from now." His boss, Xkik, announced. "Apparently higher up has something important they want to say. We have a terminal ready for you, I'll message the login details." "Wha-, what's so important?" Ghen asked in bewilderment. "Did a water line rupture or something?" "No, nothing like that." Xkik replied with a slight chuckle. "It's actually about the rumors we've been hearing. That human corporation wanting to acquire us? That's what they're talking about." Ghen could feel everything inside his thorax drop to the floor. "That must mean it's true then, right? Did we get sold off by the Queen to this company then?" "Show up to the meeting and you'll get your answer." Xkik said simply. When he finished, Ghen got the notification on his communicator. There's the login details, allowing him to remotely attend the meeting. "They're about to start, hurry up." Once Xkik disconnected, Ghen worked fast to login and set up the remote viewing. Once everything was done, his screen started transmitting the meeting room. It was already packed. And off by the main board, he saw his answer. There was a human, resting against the wall on his two legs. Standing right in the center of everyone's view was the coordinator, Tizx, watching the clock periodically. As soon as the meeting's start time was reached, the coordinator began. "Alright everyone. I realize that this was rather short notice, so I want to say how appreciative I am that you made it. Now then, let's just get right to it. For some time now, many of you have been hearing rumors that a human corporation has been interested in us. Why? We never really knew. We're just an organization responsible for finding, extracting and providing water to the colony here all under the direction of the Queen herself. Well, as of now, I have the answer for you. Why don't I let Ryan say that?" Stepping back, Tizx motioned for the human, Ryan, to take over. With a nod, Ryan practically bounced over and then took the position. "Good morning to you all. I hope my Zazk is passable, heh. Anyways, the answer to those rumors, is yes. Terran Galactic Company is indeed interested in you all. Which now leads to me. I'm here to announce that, effective yesterday evening, this water company is now a subsidiary of Terran Galactic Company, under the name of Zilia Water Delivery." Many other sub-coordinators broke into hushed conversation, no doubt speaking their thoughts with each other about this move. Ghen could only wonder if this was even a good thing. What will the humans do? Will he still have his job? Will he have to learn how to deal with the ruthless humans? "Now, I am well aware this is quite the...uh, change." Ryan continued. "That's why I'm happy to inform you that, no, nothing negative or detrimental will happen to you. You just have new people to answer to. Operations will continue as normal, everybody here will still keep their jobs. The only real change any of you will personally experience is that Coordinator Tizx here will now report to someone else. On behalf of the Terran Galactic Company, we are extremely excited and are looking forward to working with you all. Thank you for your time." A week later. At least Ryan wasn't lying. After the initial shock wore off, things went back as they normally did. There were no terminations, no reductions in annual pay or anything. Nothing really changed. At least until this new meeting was called. Ghen was at the worksite this time, so he took his seat and watched as, once again, Ryan led the meeting. "Hello again, everyone!" He said cheerfully, his Zazk noticeably improved. "I hope I didn't end up looking like a liar, right? Everything's still normal, all that?" All the zazk in the room confirmed, providing comments to their pleasant surprise as well as lingering thoughts. "Awesome! Awesome." Ryan said jubilantly, his fleshy mouth revealing his bone-white teeth. "Now then, you're probably wondering why I'm here again, right? Well, I got another fantastic piece of news for you all! Two, actually. I'll start with the first: Zilia Water Delivery has just completed its IPO. The company is now publicly traded!" Ghen and the others voiced their confusion, having no idea what in the name of the Queen Ryan was talking about. What was Ryan talking about? What's an IPO? And why exactly is being publicly traded such a significant thing? "Oh, you guys don't know any of that?" Ryan asked in surprised confusion. After everybody confirmed, he let out a quick huff as he began his explanation. "Well, to begin, IPO is short for Initial Public Offering. Basically what that means is that, before today, Zilia was privately held. Only certain individuals could buy and sell shares here. But now that we're public? Literally anyone can buy and sell shares in the company, hence us being publicly traded." "Uh, what's a share?" Ghen asked, still completely lost. "Oh, boy..." Ryan muttered under his breath before returning to his peppy image. "To simply put it, a share is short for having a share of ownership in a company. When you buy a share, you're buying a piece of ownership, and when you sell, you're selling that amount." "So wait...if someone buys a share, they're a co-owner then?" One of the other team coordinators asked. "If they get enough, yeah." Ryan nodded. "You need a lot though, and that really depends on the company. If I had to give an answer though? I'd say usually you need to have a lot more shares than a lot of people combined to be officially a co-owner, but we call that being a majority shareholder." "And how do we do that?" Ghen asked, now growing curious but still not understanding why such a concept exists. "Simple. Buy shares." Ryan said simply. "And that leads into the second piece of awesome news. Zilia's corporate has a product in mind, a premium-package of water delivery. Instead of the usual water that you pump out, filter and ensure its potable before delivery, with the premium package, not only will you get that, but you'll also get all of the required nutrients and vitamins the zazk body requires! And they feel you guys have the best expertise and understanding to pull it off! So, here's what we're offering as a good-faith bonus: A 25% increase to your annual salary as well as being given stock options." Ghen wasn't sure about the second part, but the salary definitely got his attention, as well as everyone else's. Although his job was considered to have a good pay, Ghen isn't going to say no to a higher salary. In fact, he's been focusing his work on getting a promotion so he can come home with even more credits in pocket. "What do you mean by stock options?" Ghen asked after some time. Ryan let out that smile again, the one that revealed his teeth. "If you choose to transfer over to the new group, you'll be provided 50,000 shares in Zilia itself. Why's that awesome? Let me walk you through it. Right now, our last closing price per share was 3.02 credits. And if you have 50,000 shares during that time, you're sitting on 151,000 credits, if you cash it out immediately." "And why shouldn't we?" One of the coordinators demanded in an ambiguous tone. "Because the price per share changes a lot." Ryan explained promptly. "When we got done with the IPO? It closed at 2.73 a share. Right now? My money's on the closing price being 2.99 a share. However, we are extremely confident in this premium package being successful. If it does? Well, my bet is that the share price will skyrocket to 3.12 a share. If you hold those shares and the price gets to what my bet was? You'll instead get 156,000 credits. Just by holding onto them, you just made an additional 5,000 credits!" "And what if we have more shares?" Ghen questioned, now getting excited at the prospect of free money. "Even more money!" Ryan laughed a bit. "And don't forget about dividends, but that's for another time. The premium group is gearing up right now, we just need the workforce. If any of you wants in, I'll be back tomorrow with all the forms needed to make it official. Take the day and tonight to think it over, yeah?" Everything else melted into a blur. Ghen was practically on autopilot that whole day. Was this the secret to the humans' incredibly massive economy? How so many of them have amassed so much money out of nowhere? All you had to do was just buy this share out of a company and you get more money without even working? As soon as he got home, Ghen knew what he was going to do during the night. After feverishly looking through the galnet, now having the human race connected to it, he looked and gathered up as many books that were translated into zazk as he could find, all talking about the human economic system. The last time he undertook such an intensive study was during his primary education phase. And during his search, he even found forums on the galnet that were completely dedicated to the human's economy. All of them talking about strategies on what company, or stock, to pick. How to analyze a company's performance to determine if it was worth the money, or it had potential to grow over time. And that was when he discovered the humans found another method to the extremely simple buying and selling process. There were humans and some other immigrated aliens who made five times what Ghen could receive over a simple month just by watching the share prices during trading hours, and then buying and selling them at the proper times. Ghen's mind was just absolutely flabbergasted. He thought it was just some strange concept only aliens could make, but no, not with the humans. They've practically made their economy into an art or a science. No, not even their economy. Everything. If humans can see a way to make money off of it, they'll do it. And if there isn't, they'll look for a way. Healthcare was monetized. Galnet services, transportation, shopping at the store, they even made all of their utilities into profit-oriented companies. And it was there that Ghen paused, the realization slamming into him. Everything was monetized. Which means, if you don't have the money for it, you're not getting it. Right? Are the humans truly that ruthless? So obsessed with making money? To the point that they're willing to deprive their own people of the absolute necessities if it's a source of credits? Ghen let out a scoff. There's no way. Nobody is that cruel and callous. He's never been to the United Nations. He can't rely on what a bunch of random people on the galnet says. He decided that from here on out, he'll only go as far as saying that humans are a little obsessed with credits, nothing more. ... There he was. Ryan, sitting in the office provided to him. And there was a rather large line leading to him. Looks like word got around. Although, the line wasn't as large as he expected it to be. Maybe the others thought it was just a ruse? That there's no such thing as making free money by spending it on such a made-up concept? Ghen only knows that, if it is a ruse, it's an extremely elaborate one, where all of the humans are in on it. And he believes that's just extremely ridiculous. At the end, if he's unsure, he'll just take the transfer for the very real increase in his very real salary. And although he spent a very good chunk of the night reading up on how humans do things, he's still going to play it smart. He'll leave his 50,000 shares alone and see where it goes from there. "Good morning sir." Ryan greeted warmly once Ghen took his seat. "Now, name please?" "Ghen." He answered, barely keeping his nerves down. "Alright...and what's your position at this location?" Ryan questioned after scribbling on his form. "I monitor the pumping stations near the extraction sites." Ghen explained, staying on point. "To be more specific, I check to see if they're in need of maintenance, as well as reading the flow rate that's determined by the calculators installed there. If there's too little for what's needed, I pump out more. And if there's too much, I pull it back a little." "Nice...and how long have you been doing it for?" Ryan complimented with a nod. "As of tomorrow, ten years." Ghen replied, voice quickly changing to minor awe once he realized that fact. "Excellent. Do you have anyone in mind you'd like to replace you here?" Ryan questioned after another scribble. "If you don't have anyone, you're free to say so." Ghen took a moment to think it over. A bunch of names went through his mind, but one stuck with him. "Tilik. He's just been accepted here, but he's learned quickly. Very attentive and he always catches something subtle. I think he'll do really well in my position, even better actually." "Tilik, really?" Ryan questioned with a little shock, going through his completed forms. Ghen felt a short sense of panic in him. Did something happen, or was Tilik actually transferring? His answer didn't take long to reveal itself. "Right, Tilik was actually one of the first people to want to transfer here. He's actually requested to be part of the testing teams specifically. Do you have a second choice?" "Um...no, actually." Ghen replied, feeling a little ashamed. "Tilik was my only choice, to be honest." "Hey, don't worry." Ryan said assuringly with his hands raised. "Nothing wrong with that. Sometimes, there's just nobody up to snuff, right? 'Kay, so, last question. Is there anything specific you'd like to do when given the transfer?" "If you need someone monitoring new pumps, I'd be happy to do that." Ghen stated. "So basically same job but with better payoff, am I right?" Ryan grinned. "I hear you. Sometimes, we're just not paid enough for what we're doing. I know I think that sometimes. Uh, our secret, yeah?" "Yeah, our secret." Ghen nodded, thinking it'd be better to have friendly relations with the human, just in case. "Awesome. Back on topic, that's it." Ryan announced, placing the form on his pile. "We'll give you a call when you're accepted." "Oh, uh, that's it?" Ghen questioned with a shrug in shocked surprise. "What, expecting a question like, why do you want to transfer?" Ryan chuckled a bit as he leaned in his seat. "You can bullshit all you want, but we both know the answer. Sweet money and stock options. Not saying that's a bad answer of course, just that it's pretty obvious." "I suppose it is." Ghen commented, realizing the point. "Also, you mentioned this...dividend? Is that for Zilia shares?" Ryan laughed a little bit before nodding. "Yep, announced before I came here. About 0.43 per share. Want to know why that's awesome? Instead of waiting for the proper price to cash out your shares, now? The company pays you for each share you hold." "A...Are you serious?" Ghen demanded, flabbergasted. Ryan nodded with his now-trademark grin. "Dead serious. If you get the transfer, and get those 50,000 shares? A little head math...right, if you hold onto those, in addition to your salary, you'll now annually be paid 21,500 credits, if you keep it at 50,000 shares. Only you can decide to sell or buy shares." Ghen just stood there silent and motionless, no idea of whether to believe it or not, to which Ryan just laughed. Once he walked out of the room, he managed to snap back to reality. Again, just focus on the very real pay-raise. He'll deal with the other parts later. After he returned to his spot, he spotted Tizx approaching by his desk. The coordinator seems to be as casual as always. "I saw you in that line a bit ago, Ghen." He said as he leaned on the desk. "Guess you're really taking that human's word?" "I mean, I don't know about all this share business or what not." Ghen began with a shrug, his tone sounding a little defensive. "But I mean, having a bigger salary? Course I'm going for it when I can. And if all this magic credits turn out to be real? You realize we can live like the royal servants, right? Get the best cars, the nicest food and all that?" "I'd be very careful, Ghen." Tizx warned in a sudden shift in tone. "Don't trust those humans. The way they just...obsess over money? Come up with more and more insane ways of getting credits? I don't know, it just makes my wings twitch." "You think this is a bad idea?" Ghen asked with a little surprise at the change-in-demeanor. "I think you should be careful, with the humans, and with what you're saying." Tizx replied, straightening his posture. "I wouldn't put it past those Earthmen to backstab you if it gets them a few more credits. And we all know how the royal servants get if any of us lowly commoners start thinking we can break into their circle." "I hear you, I'll be on my guard, promise." Ghen stated with a nod. With a confirming nod of his own, Tizx returned back to his duty, walking past Ghen's desk. Several weeks later. Everything became so much better. Ghen got the transfer. He didn't need to relocate to a new residence either. And after he was walked through into learning how to manage his stock account, and seeing that new form of payment in his hands, he already felt as though he made the best decision. But it was only when he decided to take those shares more seriously that he became privy to what he was given. After receiving the dividend payment, and actually seeing it was real, valid credits after transferring it to his main bank account, all he could describe was the most powerful high he ever felt. While his first thoughts were to buy himself a royalty-class car, some nicer furnishings for his home, or even a better home entirely, he ended up going the smarter route. After going back to his stock account, he discovered that Zilia's shares rose to about 3.22 credits in price. Knowing that this was the easiest money he could ever make, he took all of his dividend earnings and bought more shares in Zilia, bringing him to owning 56,891. And from his new regional coordinator, a human named Dylan, tomorrow is the grand release of the premium package. For just a monthly rate of 14.99 credits, the tap water will now include a sizeable portion of all nutrients and vitamins required in the zazk physiology. Still, Ghen has to admit. He's not entirely sure why anybody would want such a thing, if they'd even go for it. But, as long as he's practically swimming in easy credits, he won't pay much attention to it. And just like when he was intensively studying the basics of how the human economy worked, he barely got any sleep. His mind was constantly thinking about the things he would buy. Or rather, what other stocks to put his credits into. Even now he can still hardly believe it. Just spend your money on some, make-believe thing and, if you wait long enough and picked the right stock, you'll get more than you spent back? His mind even wandered onto what human colonies, or even their homeworld, Earth, was like. If everybody was making so much money, what kind of things would they offer? What kind of ridiculous service or product or item can you get? He's even debating on joining some forum and just asking around. Explain how he's new to how humans do things and was wondering what he should expect if he's successful. By the time he felt like he can go to sleep, the binary-stars of the system were rising from the horizon. After getting out of his bed and changing to clean clothes, his mind returned onto what-ifs. What if he bought better clothes? He's had his eye on that human brand of luxury clothes, Tessuti di Venezia, that's been all the rage amongst the royal servants. Or maybe he can go on vacation and just check out Earth for real? It was a short ride to his workplace from his home. After getting stuff his stuff and preparing to walk through the doors, he heard the roar of a car grow louder. When he looked, he saw the sleekest and quite possibly the coolest looking car he's ever seen. Each time the engine revved it would startle him, both from how harsh it sounded as well as just how intense it sounded. And after it parked, he saw the doors pop out and then slide along the body back. And there, he saw Tilik, the seat literally turning and extending out a bit before he got off. As soon as he saw Ghen staring, he struck a rather prideful pose after putting on his lab coat and then sauntered over to Ghen. "What do you think?" Tilik said, without any doubt inviting praise or compliments. "D...Did you actually buy that?" Ghen asked, unable to tear his eyes away from the car. "You're Queens-damn right I did!" Tilik laughed happily. "Thing takes off like a starship, has temperature-controlled seating, all-in-one center console, barely any bouncing on rough roads. Hoof, best decision I've ever made!" "How much did that thing cost?" Ghen asked after letting out an incredulous laugh. "Five million credits." Tilik replied, earning an absolutely shocked stare from Ghen. "And thanks to the incredible salary I have, in addition to all these shares and dividends, I'll pay back the credits I borrowed in no time!" Ghen needed a few moments before he could speak again. "All I've been doing is buying more shares." Tilik laughed and then patted the now-envious monitor's back. "Smart man. I got a little carried away, yeah, but not anymore. Any spending credits I got, going right back to investing. That's what it's called right, investing?" "Yeah, it is." Ghen nodded, feeling a fire light up in his thorax. "And also? Today's the day that the premium water thing is being released. Here's hoping it starts out well, right?" "Oh it will, trust me." Tilik chuckled as they both began making their way inside the workplace. "Lots of research, lots of study. By the Queen, so much of it...it'll make your head spin." And after hearing that, Ghen had a moment of realization. "Hey, Tilik? How did you get such a nice position anyways? Weren't you just studying under me before the humans came along?" Tilik let out a sigh after opening the door. "I'll be honest, I never wanted your job. Not because it's boring or terrible, just...I didn't suffer so many sleepless nights in the science academy just to be a glorified button pusher. This is what I've always wanted. Doing science, solving problems rather than just applying the solution, you know?" "Wait, you got an academic certificate?" Ghen questioned, completely floored. "How did you end up beneath me then? I should've been answering to you!" "Simple." Tilik gave a heavier sigh. "A royal servant was asking for the same job I was. Take a guess at who got it." "Ouch. Good thing the humans came along when they did, yeah?" Ghen was taken aback. He never heard anything about a servant taking a job at his place. "Looks like you're proving yourself to be well suited." "By the Queen, of course I am." Tilik nodded. "Like I said, I nearly broke my wings through so many nights, got certified top of my class, all just to get pushed to the dirt because someone who was born into a particular family wanted the same thing I did? I know I'm smarter than any of those empty-skull servants back in the Center. I know that, whatever, uh...corporate? Yeah, whatever corporate wants out of science, I will xeek give it to them." "Well, let me know how things go in the lab." Ghen said, admiring his drive as they neared the main office floor. "Because this is where the button pusher needs to go." Tilik let out a laugh as he nodded. "Hey, how about we meet up at Queen's Fine Eatery tonight. I'll pay, yeah?" Ghen, at first, wanted to admonish him for choosing such an outrageously expensive place to go. But he quickly realized that, he truly is good for it, thanks to the humans. "Well, hey, if you're paying for it." ... It was a fantastic opening. After being told what news sites to keep in mind for stocks, he first heard it from Dylan, and then got more detail on Business Today. There was such a massive demand right from the start that Zilia needs to increase extraction just to meet it. But what really got his attention was the effect it had. Zilia Water Delivery's share price just blasted off. After seemingly holding steady at about 3.15, by the time he got home and logged onto his account, it already reached 7.04 a share. The calculator on his account told him that he got a value-gain of 54.26%. Never in his entire life had he felt such...joy. With all of the shares he currently has? He's sitting at 400,512.64 credits. He knows that it is woefully pathetic compared to what the royal servants have just in their pockets, but the fact that he has such money, just by owning some intangible concept? Why even work at Zilia? Why doesn't he just sit at home, figure out what companies to invest in and make his money that way? What's even the point in working a real job, getting a pathetic pay when you can just take the money you have, determine where to spend it, and get triple back? All just sitting on your wings at home, researching? He was so wrapped up in his excited high that he completely forgot he was going to meet Tilik at Queen's. After quickly and haphazardly putting on his nicer clothes, he got to the place only a few minutes late. Tilik was there by the guide, no doubt having been waiting for him. As soon as he strode up, Tilik's wings stiffned out some. No doubt he must've seen the numbers as well. "I can see your wings, Ghen." Tilik began with an excited chuckle. "Made some serious credits?" Ghen let out an incredulous scoff, struggling to find the words for a moment. "Incredible. All I'm going to say." "Likewise." Tilik chortled some before nodding to the table guide. "All here. Table please?" "Right this way, sir." The guide said politely. It was a short walk, travelling between round tables. The vast majority were populated by zazk, but Ghen was surprised at seeing a few humans here as well. No doubt corporate workers checking out the local food. He did spot them having bowls filled with some kind of mass. Some were brown, others white with what looks to be black specks on them. They arrived at their table. A rather nice one, affording a view out the windows into the busy colony streets. Once Tilik and Ghen settled in, the guide handed out the menus. "May I suggest our rather popular option for tonight?" The guide began. "Human ice-cream. Ingredients sourced from Earth itself. Very cold, but incredibly sweet, and coming in many flavors. The most popular amongst us is called vanilla-bean. The vanilla itself soaks in the cream for much of the process, and then the innards sprinkled on top of it near the end. Rumor has it that the Queen herself has demanded personal shipments of such a treat straight from the home of vanilla, an island on Earth named Madagascar." Ghen didn't even spare a single thought. "Vanilla bean ice cream then, please." "Same." Tilik seconded when the guide glanced to him. With a slight bow, the guide proceeded to ferry their orders to the kitchen. Thankfully it was just a short wait before the guide returned, carrying a large plate containing bowls of ice cream. Ghen could feel the saliva on his mandibles as the bowl was placed before them. He could just feel the cold air around that glistening mass of sugary goodness. The white snow decorated with the black dots of vanilla bean. Once the guide left them, Tilik and Ghen both dived in at the same time. As soon as the ice cream entered his mouth, touched his tongue, he exploded in incomprehensible bliss. The sweetness, the smooth and creamy mass, even the taste of vanilla he wasn't sure about was just absolutely delightful. It was so overwhelming that his entire body limped, slumping in his seat as he was forced to ride on the surging tide of joy and happiness sweeping over him. Tilik was no different. He too was taken completely by the effects of the ice cream, his wings fluttering some against the seat. Ghen could hear some noise. It was the humans they passed by. They were chuckling, grinning, and glancing over at them discreetly. Unlike the two zazk, the humans seemingly just enjoyed the ice cream as if it was just another nice dessert to them. Or perhaps they couldn't allow themselves to succumb to the high? And as soon as the wave of indescribable bliss and happiness subsided, Ghen knew. He just knew. This was the life. He wanted this. The ice cream was just the beginning. So many things denied because he didn't have the credits, or worse, not the blood. Because he was just a drone in the great Collective, even if he had the credits, he wasn't allowed because of what caste he was born in. That fire that sparked in him when he saw Tilik's new car? It exploded into a raging firestorm. And when looking into Tilik's eyes, Ghen could see the same. He was on the same page as Ghen was. Both of them were sold. They have the credits. And the humans? If you can pay for it, they'll never discriminate. All they cared about is if you have the money. And by the Queen, Ghen and Tilik will endeavor to amass as much credits as physically possible. The rest of the night faded into a blur. A blur that evokes only one thing. Bliss. It was only when he walked through the door of his pathetic hut that Ghen's mind snapped back to focus. His mandibles felt sticky. And he felt a weight in his stomach. How much ice cream did he eat? Whatever it was, he ate such volume that the lower-section of his throax extended and rounded out, visible even under his shirt. He felt something odd in his pocket. It was a receipt. 43,000 credits for ten bowls of vanilla bean ice cream. Was that ten bowls for both of them? Or individually? Ghen didn't care. He's good for it. Returning back to his calculator, he acted upon the decision that he had made at that eatery. He's acquiring as many books about investing and stock trading as he could find, frequent and study all the discussions and arguments presented by other like-minded individuals such as he, all to ensure he can live the good life. And he had a very good feeling Tilik was doing the exact same thing. Well, first, the gurgling in his stomach, as well as the feeling of something rising demanded his attention. Looks like he'll need to take the night off to let his stomach get back to normal. Three Years Later. Ghen looked out beyond the horizon, seeing the colony that he grew up in. On the far side was where his old house was. With only a simple robe on, made from the finest silk from Earth's nation-state of China, he relaxed in his seat. It was a long road. Stockpiling credits from pre-existing investments and from subsequent pays, he and Tilik made it. From having only half a million in assets and cash, now transformed to over eight-hundred million. And now, his call contracts on American Interstellar? They've just announced a breakthrough in their next generation of warp drives, reducing the speed coefficient even further, resulting in far faster travel. And with that, their stock price climbed sharply. Another hundred million credits in the bank. Soon, very soon, he and Tilik are about to become the galaxy's first zazk billionares. But that's not enough. There are many humans who are billionares. Only those he can count on one hand are considered trillionares. He's going to break into that circle. He and Tilik. Looking beyond the colony, he saw the abandoned building of the workplace he transferred to when the humans arrived. Turns out, the reason for such a high demand was that the humans also slipped in sugar to the tap water. As soon as that broke, many influential royal servants demanded investigations and outright banning of Terran Galactic Company's influence over the former government division. Zilia's stock price plummeted. But thanks to an advance tip from his human coordinator, Dylan, he and Tilik made a put contract. And that's where they struck gold, as the human saying goes. Dylan warned that if they were citizens of the United Nations, they'd be investigated and convicted for insider trading. But, since they weren't, and the Collective were only just introduced to capitalism, there's no risk at all. Now the colony is going through a withdrawal phase, Zilia has been dissolved and reformed back as a government division and are currently at work re-establishing the standard, plain water delivery. "Well, shit." Tilik muttered as he walked up to Ghen's side, taking well to human speech. "Looks like you win. American Interstellar's announcement really was a good thing. There goes a million credits. Ah well, the Royal Shipyards will make it back for me soon." "Oh? Did they just go corporate?" Ghen asked curiously, glancing to Tilik. "Hell yeah they did." Tilik chuckled, sitting down. "Queen and her retard servants fought it hard, but Royal Shipyards is now officially a human-style corporation. And, to a surprise to all the xenophobes in the galaxy, they're already being offered contracts for ship production. That'll raise the stock price pretty good." "What's that human word...?" Ghen muttered, already having a reply in mind. "Dick? Yeah, calls or suck my dick, Tilik." Tilik roared in laughter. "Already made them. Forty credits a share by this day next month." "I have half a mind to go thirty." Ghen chuckled. "Either way, until then, I heard from Dylan that he knows a guy who knows several prime human women who happen to be into zazk." "You're interested in women?" Tilik said as his wings fluttered. "With how often you tell me to suck you off, I'd have thought differently." "Oh, I always thought it was you who was into men." Ghen responded dryly. "Just wanted to be a good friend, you know? Considering how you never seem to make it past, Hey sweet thing, I'm rich you know." "Oh, go fuck yourself." Tilik countered with a little laugh. After he stopped, wings stiffened, he looked to Ghen. "So, know any royal servants we can put the squeeze on for more revenue streams?" "I got just the one." Ghen nodded, sitting up. "Fzik. He's been fighting to control the ice cream trade. Worried it's a corrupting influence. Got done talking with the human CEO of Nestle earlier. If we clear the way, he'll know how to squeeze a little more gains in stock price when he makes the announcement." Tilik's wings stiffened even more, signaling his approval. "Alright, time to throw some credits around, yeah?" AN: Sorry for the period of no updates. College is starting up, lots of stuff to clear and work out. Not sure why but I just got a bug up my butt about incorporating money and the stock market into a short. Here it is. Sorry if it seems abrupt, character limit fast approaching. Let me know how you guys think about it!
These are the rules, everything that pertains to everyone who wishes to make any sort of interaction within this sub. Per the last META, clarity has been given in regards to bulk-type sales. Since EVERYTHING is here for you all to read, we expect there to be less issues with rule infractions and general confusion as to what’s acceptable, and what isn’t. We devote our time and energy for this sub to continuously never reach a balance amongst the users. Our goal is to ensure the subreddit itself sticks around, along with trying to keep the userbase from being taken advantage of. Our rules make sense to some, and none to others but they serve a purpose. Regardless of how you feel, these are the rules and it is expected they be followed. At the time this post becomes visible, all of what’s listed below will be enforced as a hard rule, no more wrist slaps or babysitting.
Reddit Rules regarding Firearms No firearm sales. No Ammunition sales. No primers or gunpowder, as they are considered explosives. No selling or distributing of files related to 3D printed firearms. If you have no idea what this is referring to, please educate yourself before posting anything related to 3D printing files by reading up on them at the following websites:
Firearms: A Firearm is considered the serialized receiver or assembly of a working firearm. If you are unsure if an item is prohibited, contact the mods prior to posting it. 80% lowers and completion kits are not included in this prohibition as they are not firearms yet. Bump-Stocks are considered Machine Guns by the ATF and are therefore prohibited from trading on the sub. Binary Triggers, Cranks, and Rubber bands and other such items are not (currently) affected by this prohibition (unless Admins change their minds later). Explosives & Hazmat: Gunpowder and Live Primers are considered as explosives and Hazardous Materials and are therefore prohibited from trade. Ammunition: Reddit Admins use the ATF definition of ammunition which is as follows:
The term “Ammunition” means ammunition or cartridge cases, primers, bullets, or propellant powder designed for use in any firearm. The term shall not include (a) any shotgun shot or pellet not designed for use as the single, complete projectile load for one shotgun hull or casing, nor (b) any unloaded, non-metallic shotgun hull or casing not having a primer. 27 § 478.11
Brass and projectiles posted here will result in an immediate suspension by Reddit Admins, so if we find it first we will remove it. Any violation of these above rules will result in a ban by us, or a site-wide suspension by Admins and their Anti-Evil goosesteppers. Anyone attempting to skirt Reddit Rules will be given a 7 day ban on the first offense, a 30 day ban on the second offense, and a permaban thereafter due to the fact that Admins will use the bad behavior of a few to justify shutting down the sub for good.
This sub is for private sales only. Vendors must post inGundealsorGunAccessoryVendors Clarification on Vendor Rule: Don't include links to your business website, we are not a referral system, do your business on here. Please see the Reddit Self Promotion page for details on that. Reddit admins don't like you cutting in on their ad revenue. We do not support VENDORS, I.E. if you buy another company's products in bulk (such as Magpul), and just act as a distributoreseller, your business is not welcome here. That is /GunDeals territory. If you have an FFL, you cannot do business on here because are considered a firearm business, and cannot solicit any transactions involving firearms. The limit on bulk sales/bulk items is 10, that means 10 of the same individual item can be posted for sale or trade. If you have 10 Geissele triggers, but only 4 are flat and 6 are curved, that will still count as 10, as they're the same branded trigger and likely purchased at the same time. If there are 3 OD Green items and 7 FDE that are otherwise the same item, that still count as 10. If you post 10 items of the same in one day, 10 the next, and 10 the following day after that, that will be viewed as vendor activity. To keep such things from happening, it will be limited to one sale of this type, per user, per week. The ONLY EXCEPTION to this rule is old magazines, as it is common for users to purge off part of their mag collection. Please follow these rules when creating a listing: Prefix your title with the transaction type: [WTS] - Want To Sell [WTB] - Want To Buy [WTT] - Want To Trade [GIFT] - Gun It Forward Tactically Suffix your title with your state (e.g. (GA) or (NY)). This will help incentivize local sales and could impact shipping costs. Also, it could affect legality of some items such as magazines and those accessories deemed as "assault weapon" parts by certain states. Postings should all follow this general format as an example: "[WTS] M16A2 Carry Handle - $60 (VA)". If you do not list the price in the title, ensure that it is listed in the comments. Include a Dollar sign ($) or the bot will remove it. Postings without a price value may be removed after a period of time. WTB posts require valid offering prices, and will be removed if they do not have one. Postings with prices such as "$1 for the bot" or "$1,000,000 for the bot" that are intended to bypass our rules and automated removal system instead of posting a valid price, will be removed and a temporary ban will be issued immediately. Postings without pictures will be removed immediately, unless these posts are WTB. Do not post an item for sale if you do not have it in your possession at the time of posting. This includes an item you may have purchased elsewhere, you decided you don’t want it and it’s on its way to you, but it has yet to arrive. If you don’t have it, don’t post it. If you post stock images of an item in your WTS/WTT post, that will result in a temp ban if it is your first time doing so, possibly permanent if done on multiple occasions. If you post images of someone else’s photos for “your” item, this will be viewed as scamming tactics and you will receive a permaban, immediately. If you drop your price, use the Price Drop/NSFW Tag. If your items sell, use the Complete/Spoiler tag. Please don't delete the price of an item if it sells, because that can be used by people in the future to gauge what similar items may be worth. If your post does not receive the traction you're wanting, refrain from reposting within a 24 hour time frame. You may repost after the 24 hours has passed, and a price drop is not required, but encouraged. Deleting your post and reposting afterwards is viewed as trying to evade this rule. It will be met with removal and a temp ban, possibly longer if done more than once. Want to Buy/Sell/Trade (WTB/WTS/WTT): These transactions all require a price value for the item. If a listing does not include a price it may be removed and re-listed once it is in compliance. Giving an unrealistic price to avoid this rule will be treated as a rule violation. Examples of this are "WTB scope, $1" or "WTT Upper, $9999". Additionally, you must list what you are looking for in [WTT] posts. Fielding offers, testing the waters or any other post attempt to try and skirt this rule will result in the post being removed. Gifting items forward: (GIFT) If you have small odds and ends that aren't worth much and the cost of shipping is prohibitive, you are allowed to offer items for free. The gifter is allowed to request compensation for shipping only, and can request a flair upgrade in the feedback thread for the transaction. If the receiver pays for shipping, they can also request a flair upgrade, but if they get the item for free, no flair upgrades for the recipient. Flair upgrades of this type are limited in order to avoid abuse, i.e. giving away 20 A2 grips in order to get +20 rep is not authorized. Accounts with 5 or less flair (you must have at least 6) on GAFS are NOT eligible to participate in giveaways, due to users from other subs coming to win stuff without ever participating in GAFS, or GAFS users making multiple new burner accounts to enter giveaways. New accounts (under 30 days of age) are not able to create WTS or WTT ads, nor should they offer things for sale in the comments of other peoples' posts. To prevent scams, new users can only post Want to Buy threads. If you want to attempt to bypass this account age requirement, you must be able to provide moderators evidence of a good trading history on another reputable online forum, such as Calgunner or AR15.com where you can show a longstanding history of positive trade feedback. If this is completed, moderators may provide an exception and allow WTS/WTT posts to be submitted by new users, with a warning caveat to any potential buyers to avoid using risky payment methods until the seller has had a chance to develop a positive trading reputation. Any new accounts that utilize this subreddit that create names that are similar to a mods (i.e. sxbbzxro, sxbzxxro, subzxro, etc.) may be removed from participating here due to the possibility of confusing/having the ability to manipulate users into thinking they are in fact a mod. Price Checks (PC): Because PC listings were abused by many to bypass the price rule, fish for "best offers", and otherwise snipe sales, they have been disabled after overwhelming support from the community. We have a feedback system in place. The current month's flair thread is On the Sidebar, and is usually Stickied at the top as well. Check there for the specific directions. DO NOT create a thread for a sale that has already happened, or has happened in a different sub/website/forum etc. The Flair system is only for feedback for exchanges in /GAFS. Any attempts to game the flair system will be seen as an attempt to establish trust for scam purposes, and will be banned accordingly. Law Enforcement: Be aware, we do not offer exemptions to any individuals who may have LE credentials. Due to the difficulty of verifying employment, possible job changes, leaving/termination from said job, etc. we treat all users as civilians. Any local and federal laws apply to all individuals who utilize this subreddit. Read up and stay up-to-date on these laws and regulations, you will be expected to know and abide by them. Failure to do so may lead to a ban. External Sales: NO LINKS to your external sales on TacSwap, eBay, Facebook, Armslist, Gunbroker, etc. Sales in multiple locations are allowed, but don't just provide a link to sale elsewhere. Make your listing here. The only caveat to these rules is to show a price point elsewhere if someone here has an item that is grossly overpriced, or is looking for an item. This sub is not a "highest bid gets the item" format. There are also no lotteries for items i.e. 10 chances at $10 each to purchase a $75 flashlight with a random number generated to pick the winner. High Value or Counterfeit Items: To deter the sale of counterfeit products, any item that is serialized must have a picture of the serial. As firearms are not allowed for sale here, this shouldn't present a privacy issue to anyone. This policy covers items such as EOTechs, Aimpoints, Trijicons, etc. Along with this, if you're selling anything that's "new-in-box", you must unseal it and show the contents of said box/package. No Stolen Property. If you are selling a knockoff item, indicate that fact. Items such as bipods, BUIS, flashlights, holsters, and scopes/optics are known to have some gray market options. KAC USMC Stamped Rear Sights are not stolen property and are allowed on here, unless another member can provide proof from a DoD source that they are in fact considered stolen government property. All GAFS logos, icons, banners and visual content related to this subreddit, belong to the moderator team. Do not create/manufacture/produce items with this content onto itself. It is forbidden to profit off the GAFS name, unless discussed with the modteam in advance and given permission.
The official policy is for the mods to not get involved with issues regarding lost packages, provided that the parties can prove it was actually lost. If you feel like insurance should be added to your transaction, please take care to add that before finalizing terms.
WARNING: Be aware of all state and federal laws that apply to you and any parties involved in a firearms-related transaction. You are responsible for knowing and following the law. This Subreddit and its staff are in no way responsible for informing you of the law, but will make every effort to do so. As a buyer, be familiar with your state/county/city rules. As a seller, do not knowingly sell prohibited items to areas that have laws against your items, such as certain capacity magazines. Any person, buyer, or seller, who knowingly solicits a trade that is illegal for them may be subject to a ban. Respect all federal and local laws for any transaction you take part in. This includes federal drug laws. Drug activity tied to your account tied to any other issues is sufficient grounds for banning. Here is the ATF Letter that explains why any suspected drug activity, including marijuana, is grounds for immediate banning from the sub. Illegal gun activity such as unregistered SBRs, AOWs, destructive devices, DIAS or lightning links in your reddit profile (in or outside the sub) can be reason for banning. Do not spread bad information regarding laws. Any item you post for sale is expected to be in your current possession. If this is not the case, you must specify this in the listing. Circumstances such as selling for a friend is allowed, but pictures of your items are required to be shared to the public. You do not need an imgur.com account in order to host pictures of your item on imgur, so that is not an excuse. If you are scammed, inform the mods as soon as you can so that we may investigate and ban the offending parties if necessary. Do not post the personal information of any Reddit users. The exception to this is if someone uses PayPal to scam a member, this information may be sent to the mods to prevent others from also being scammed. Doxxing people will not be tolerated. Do not antagonize posters about their price, opinion, or sexual orientation (etc). This translates to be a general rule of "no dickish behavior". If you disagree with someone's price, and can post evidence that their item has a current or recent better price elsewhere such as a link to a vendor, that information is authorized to be posted. That is not antagonism. People may comment on prices and offer counter-offers, as long as behavior is not insulting or unprofessional. If you feel that someone is being unprofessional regarding pricing, report it and the mods will evaluate the case. They are the determining factor whether behavior warrants muting, temporary banning, or permanent banning based on severity of incident, past behavior, and other factors. If your behavior does not contribute towards the positive image of firearms ownership, your participation in this subreddit may not be welcome. Soliciting any type of transaction regarding prohibited items may result in a ban. This includes Price Checks of firearms and other prohibited items, as this can be seen as an attempt to garner PM offers for prohibited items. Remember that there is no expectation of privacy from Reddit Admins, and that they have shown in the past that they have access to private message histories. As a general guideline, if a buyer wants to use PayPal Goods and Services (G&S) rather than Friends and family (F&F), it is expected that they will absorb the ~3% fee for the increased protections. However, PayPal F&F, Zelle, and Venmo and similar payment methods are discouraged here due to a lack of protections. All rules and guidelines are subject to change. The moderators have the final say in all issues in relation to the rules and how to enforce them.
Since 1983, I have lived, worked and raised a family in a progressive, egalitarian, income-sharing intentional community (or commune) of 100 people in rural Virginia. AMA.
Hello Reddit! My name is Keenan Dakota, I have lived at Twin Oaks, an income-sharing, intentional community in rural Virginia for 36 years, since 1983. I grew up in northern Virginia, my parents worked in government. I went to George Mason University where I studied business management. I joined Twin Oaks when I was 23 because I lost faith in the underpinnings of capitalism and looking for a better model. I have stayed because over time capitalism hasn't looked any better, and its a great place to raise children. While at Twin Oaks, I raised two boys to adulthood, constructed several buildings, managed the building maintenance program, have managed some of the business lines at different times. Proof this is me. A younger photo of me at Twin Oaks.Here is a video interview of me about living at Twin Oaks.Photo of Twin Oaks members at the 50th anniversary. Some things that make life here different from the mainstream:
The labor system - all work is considered equal, whether you are earning income for the community or not. Cooking/cleaning counts the same as planning the annual budget. Also, you don't have to do the same job all week - your day can be a mix of indoor and outdoor work, you have freedom to arrange your day, and you can gain skills in a wide array of tasks and trades.
Non-gender binary, queer and trans people are very welcome at Twin Oaks. People introduce themselves with their pronouns and a significant number of our members go by they/them.
Verbal consent culture is very important here. It is not okay to touch anyone without asking.
Nudity and partial nudity is allowed in some parts of the farm, such as in the sauna, swimming hole, on the hiking trails, etc.
Our social norms prohibit using phones in common areas when other members are present, with the exception of a few cafe-style spaces.
Every day we provide a home-cooked, plant-based lunch and dinner with options for special diets including vegetarian, vegan, gluten-free, and no onions & garlic.
Raising kids here is easier. Some of the time that parents spend raising their children counts towards their labor quota. Many of the kids are home-schooled or "unschooled", and they spend more time outside than in front of a screen. The kids have no problem passing the state's annual standardized test to move onto the next grade level.
We have a shared clothing resource called Commie Clothes, which is like a free thrift store. Borrow something and then return it dirty, and it gets washed and re-hung up.
More about Twin Oaks: Twin Oaks is an intentional community in rural central Virginia, made up of around 90 adult members and 15 children. Since the community's beginning in 1967, our way of life has reflected our values of cooperation, sharing, nonviolence, equality, and ecology. We do not have a group religion; our beliefs are diverse. We do not have a central leader; we govern ourselves by a form of democracy with responsibility shared among various managers, planners, and committees. We are self-supporting economically, and partly self-sufficient. We are income-sharing. Each member works 42 hours a week in the community's business and domestic areas. Each member receives housing, food, healthcare, and personal spending money from the community. We have open-slots and are accepting applications for new members. All prospective new members must participate in a three-week visitor program. Applicants to join must leave for 30 days after their visit while the community decides on their application. We offer a $5 tour on Saturdays of the property, starting in March. More info here. Ask me anything! TL;DR: Opted out of the rat-race and retired at 23 to live in the woods with a bunch of hippies. EDIT: Thanks for all the questions! If you want some photos of the farm, you can check out our instagram. EDIT2: I'm answering new, original questions again today. Sort by new and scroll through the trolls to see more of my responses. EDIT3: We DO have food with onion & garlic! At meals, there is the regular food, PLUS alternative options for vegan/vegetarian/no gluten/no onions & garlic. EDIT4: Some of you have been asking if we are a cult. No, we are not. We don't have a central leader or common religion. Here are characteristics of cults, FYI. Edit: Yikes! Did I mention that I am 60? Reddit is not my native land. I don't understand the hostile, angry and seemingly deliberately obtuse comments on here. And Soooo many people! Anyway, to the angry crowd: Twin Oaks poses no threat to anyone, we are 100 people out of a country of 330 million? Twin Oaks reached its current maximum population about 25 years ago, so not growing fast, or at all. Members come and go from Twin Oaks. There are, my guess is, 800 ex-members of Twin Oaks, so we aren't holding on to everyone who joins—certainly, no one is held against their will. Twin Oaks is in rural Virginia, but we really aren't insular, isolated, gated or scared of the mainstream culture. We have scheduled tours of the whole property. Local government officials, like building inspectors, come to Twin Oaks with some frequency. People at Twin Oaks like to travel and manage to do so. I personally, know lots of people in the area, I am also a runner, so I leave the property probably every day. There are lots of news stories about Twin Oaks over the years. If you are worried about Twin Oaks, maybe you could go read what the mainstream (and alternative) media have to say. Except about equality Twin Oaks is not particularly dogmatic about anything. (I know some people at Twin Oaks will disagree with that statement.) Twin Oaks isn't really hypocritical about Capitalism, Socialism, or Communism, we just don't identify those concepts as something that we are trying to do. Twin Oaks is not trying to DO Communism, we are trying to live a good life with equally empowered citizens—which has led us to try to maintain economic parity among members. Communists also do that. In making decisions in the community I don't remember anyone trying to support or oppose an idea due to excess or insufficient Communism, Socialism, or Capitalism. In most practical senses those words aren't useful and don't mean anything. So, no need to hammer Twin Oaks for being insufficiently pure, or hypocritical. Twin Oaks is very similar to the Kibbutz in Israel. If anyone has concerns or questions about what would happen if places like Twin Oaks suddenly became much larger and more common, read about the history of the Kibbutz, which may have grown to possibly 1% of the population at their largest? There was and is no fight with Capitalism from the kibbutz—or with the State. My point is—not a threat. To the other people who think that the ideas of Twin Oaks are interesting, I want you to know it is possible to live at Twin Oaks (or places like Twin Oaks) and happily live ones entire life. There is no central, critical failing that makes the idea not work. And plenty of upside. But do lots of research first. Twin Oaks maintains a massive web site. (Anyway, it takes a long time to read.) But what I would like to see is more people starting more egalitarian, income-sharing communities. I think that there is a need for a community that is designed and built by families, and who also share income, and provide mutual support with labor and money. If you love this concept, maybe consider gathering together other people and starting your own. Ideologically speaking: -Ecology: the best response to ecological problems is for humans to use fewer resources. The easiest way to use fewer resources is to share resources. Living communally vastly cuts down on resource use without reducing quality of life. -Equality: ideologically speaking, most people accept the idea that all humans have equal rights, but most social structures operate in ways that are fundamentally unequal. If we truly believe in equality then we ought to be willing to put our bodies where our ideology is. In a truly equal world, the issues of sexism and racism and all other forms of discrimination would, essentially, not exist. -Democracy: Twin Oaks uses all manner of decision-making models and tools to try to include everyone and to keep people equally empowered. There is no useful word for this. We do use a majority vote sometimes, as a fallback. But sometimes we use consensus. We sometimes use sociocracy (dynamic governance). The word "Isocracy" (decision-making among equals), would be useful to describe Twin Oaks' decision-making model, but Lev in Australia has written an incomprehensible "definition" on Wikipedia, that he keeps changing back when someone corrects it. -Happiness: The overarching goal of all ideologies is to make people happy, right? I mean, isn't it? Capitalism is based upon the belief that motivation is crucial to human aspiration and success (and therefore more happiness). Under Capitalism, equality is a detriment because it hinders motivation (less fear of failure, or striving for success). Twin Oaks believes that humans are happier when they are equal, and equally empowered. So the place to start up the ladder of happiness is to first make everyone equal. Well, Twin Oaks is mainly still working on that first step. EDIT5: Some have asked about videos - here are links to documentaries about Twin Oaks by BBC, VICE and RT.
I make this post on the margin of recent discussions of Teemo feeling outdated and overshadowed by the competition in most if not all roles. It certainly feels like that our gameplay is stuck in the simple, more binary style like most old champions (which is not bad by itself), on the other hand we weren't given enough tools and crutches to make it efficient to pilot (like Tryndamere, Amumu or Garen) So I raise the question:
What is your most important characteristic of Teemo?
Part of me wishes that we could maybe cook up a Teemo rework, that is level-headed and balanced (so no favoritism just because we main him), is competitive enough so he is playable at all levels equally, and at the same time keeps his identity. I don't want an Urgot/Aatrox level rework, despite those turning out well. Hell I don't want any sort of big rework. I want most of his key features to stay the same, but for that we need to put down our feet and name out what those are. A few off the top of my head: 1: Build versatility. -T eemo can build almost any item in the game and make use of it, and I think it is one key identity that we need to keep. Some are less optimal than others, but aren't completely troll builds. Even TANKMO has comps he's good into. 2: His Q, the blinding dart. - Being able to avoid basic attacks is in my opinion an important part of his identity. Also it being the core of the AP-focused burst is an important role. It blinding the enemy gives a lot of options versus champions who only auto, like Q-ing a Tryndamere or Jax, then going invisible right in front of them while under our turret. Or avoiding a key ability like Garen Q, Renekton W... In short, it should definitely retain the Blind CC, and should remain to be a medium-cooldown AP ability at a decent range. Make it stay a targeted ability (point and click)? I'd prefer it, but if someone has an idea perhaps that is some wiggle room we can work with as a compromise, I leave it up with a questionmark. 3: Shrooms. - I don't think Riot would ever dare to touch it, and quite frankly it is the part of his kit I am the most happy with. The shroom bouncing is a great little feature also. Maybe value changes? 4: Toxic Shot. Teemo wouldn't be Teemo without this little cheeky on-hit + Damage over time steroid on his autos, and I don't think the passive core part should be changed. At the same time, I feel there is some untapped potential with giving it an active element too, similar to how Varus' W functions. A long-ish cooldown 0 mana "utility" that could do us something. So, if we have an idea for something that would be related to the gameplay style that maxing E entrails, we COULD strap it on here. 5: Sneaky sneaky - Being able to go invisible nearly anywhere, often in plain sight, and to disappear in bushes is just amazing. Just yesterday had a Morde matchup. He ulted me, and would've definitely killed me. I ran into a bush and hid there for the duration of the ult, dodging his Q (E was on CD at the start). Then he at a shroom as it ended, I gave him an auto and a Q and ran away. The passive alone made me go from certain death to actually winning a trade despite a stronger Morde all-inning me. It is a big deal. I would love to see something that lets us move invisibly OUTSIDE bushes, likely only for a short distance/duration. It would add to the guerilla behaviour of Teemo. But that's just a footnote. 6: The Swift Scout - Some sort of mobility is in order. And as SovereignKitten said, Teemo's W is probably the biggest issue right now. It is outdated as hell and needs something. On the margin of this I would mention that base stat increases could also work wonders. For reference, 25 attack range would put him roughly in-bracket with ADC champions in terms of stats, it would let him compete better with the increasing mobility and ability range of MELEE toplaners, but as we know, base stats are dangerous, so I just leave it as a note of being an OPTION. I wouldn't increase his base MS though, as 1: W tunings could mess with things. 2: Movespeed is OP and volatile, just look at what happened with Caitlyn. All right, there's my incoherent rambling about Teemo's state, and a movement of sorts to try to compile what Teemo is, and what could we possibly change to bring him up to par without making him overpowered, or forgetting what is identity is. I don't trust many of Riot to cook up something without destroying Teemo's identity (okay, maybe August, that man is one of my favourite designers even ourside League, period). Feel free to add your thoughts and discuss things in a civil manner. Not agreeing on things is obviously part of mature discussion, but the goal is to find something that everyone is okay with. (Also unrelated sidenote: one thing Teemo definitely needs, is more voicelines. Omega Squad Teemo is amazing to play because of his in-character banter. Old champions deserve to be periodically facelifted not just in gameplay and visual terms, but also with their voicelines. I wish for Riot to make this happen.)
Everything You Always Wanted To Know About Swaps* (*But Were Afraid To Ask)
Hello, dummies It's your old pal, Fuzzy. As I'm sure you've all noticed, a lot of the stuff that gets posted here is - to put it delicately - fucking ridiculous. More backwards-ass shit gets posted to wallstreetbets than you'd see on a Westboro Baptist community message board. I mean, I had a look at the daily thread yesterday and..... yeesh. I know, I know. We all make like the divine Laura Dern circa 1992 on the daily and stick our hands deep into this steaming heap of shit to find the nuggets of valuable and/or hilarious information within (thanks for reading, BTW). I agree. I love it just the way it is too. That's what makes WSB great. What I'm getting at is that a lot of the stuff that gets posted here - notwithstanding it being funny or interesting - is just... wrong. Like, fucking your cousin wrong. And to be clear, I mean the fucking your *first* cousin kinda wrong, before my Southerners in the back get all het up (simmer down, Billy Ray - I know Mabel's twice removed on your grand-sister's side). Truly, I try to let it slide. Idomybit to try and put you on the right path. Most of the time, I sleep easy no matter how badly I've seen someone explain what a bank liquidity crisis is. But out of all of those tens of thousands of misguided, autistic attempts at understanding the world of high finance, one thing gets so consistently - so *emphatically* - fucked up and misunderstood by you retards that last night I felt obligated at the end of a long work day to pull together this edition of Finance with Fuzzy just for you. It's so serious I'm not even going to make a u/pokimane gag. Have you guessed what it is yet? Here's a clue. It's in the title of the post. That's right, friends. Today in the neighborhood we're going to talk all about hedging in financial markets - spots, swaps, collars, forwards, CDS, synthetic CDOs, all that fun shit. Don't worry; I'm going to explain what all the scary words mean and how they impact your OTM RH positions along the way. We're going to break it down like this. (1) "What's a hedge, Fuzzy?" (2) Common Hedging Strategies and (3) All About ISDAs and Credit Default Swaps. Before we begin. For the nerds and JV traders in the back (and anyone else who needs to hear this up front) - I am simplifying these descriptions for the purposes of this post. I am also obviously not going to try and cover every exotic form of hedge under the sun or give a detailed summation of what caused the financial crisis. If you are interested in something specific ask a question, but don't try and impress me with your Investopedia skills or technical points I didn't cover; I will just be forced to flex my years of IRL experience on you in the comments and you'll look like a big dummy. TL;DR? Fuck you. There is no TL;DR. You've come this far already. What's a few more paragraphs? Put down the Cheetos and try to concentrate for the next 5-7 minutes. You'll learn something, and I promise I'll be gentle. Ready? Let's get started. 1.The Tao of Risk: Hedging as a Way of Life The simplest way to characterize what a hedge 'is' is to imagine every action having a binary outcome. One is bad, one is good. Red lines, green lines; uppie, downie. With me so far? Good. A 'hedge' is simply the employment of a strategy to mitigate the effect of your action having the wrong binary outcome. You wanted X, but you got Z! Frowny face. A hedge strategy introduces a third outcome. If you hedged against the possibility of Z happening, then you can wind up with Y instead. Not as good as X, but not as bad as Z. The technical definition I like to give my idiot juniors is as follows: Utilization of a defensive strategy to mitigate risk, at a fraction of the cost to capital of the risk itself. Congratulations. You just finished Hedging 101. "But Fuzzy, that's easy! I just sold a naked call against my 95% OTM put! I'm adequately hedged!". Spoiler alert: you're not (although good work on executing a collar, which I describe below). What I'm talking about here is what would be referred to as a 'perfect hedge'; a binary outcome where downside is totally mitigated by a risk management strategy. That's not how it works IRL. Pay attention; this is the tricky part. You can't take a single position and conclude that you're adequately hedged because risks are fluid, not static. So you need to constantly adjust your position in order to maximize the value of the hedge and insure your position. You also need to consider exposure to more than one category of risk. There are micro (specific exposure) risks, and macro (trend exposure) risks, and both need to factor into the hedge calculus. That's why, in the real world, the value of hedging depends entirely on the design of the hedging strategy itself. Here, when we say "value" of the hedge, we're not talking about cash money - we're talking about the intrinsic value of the hedge relative to the the risk profile of your underlying exposure. To achieve this, people hedge dynamically. In wallstreetbets terms, this means that as the value of your position changes, you need to change your hedges too. The idea is to efficiently and continuously distribute and rebalance risk across different states and periods, taking value from states in which the marginal cost of the hedge is low and putting it back into states where marginal cost of the hedge is high, until the shadow value of your underlying exposure is equalized across your positions. The punchline, I guess, is that one static position is a hedge in the same way that the finger paintings you make for your wife's boyfriend are art - it's technically correct, but you're only playing yourself by believing it. Anyway. Obviously doing this as a small potatoes trader is hard but it's worth taking into account. Enough basic shit. So how does this work in markets? 2. A Hedging Taxonomy The best place to start here is a practical question. What does a business need to hedge against? Think about the specific risk that an individual business faces. These are legion, so I'm just going to list a few of the key ones that apply to most corporates. (1) You have commodity risk for the shit you buy or the shit you use. (2) You have currency risk for the money you borrow. (3) You have rate risk on the debt you carry. (4) You have offtake risk for the shit you sell. Complicated, right? To help address the many and varied ways that shit can go wrong in a sophisticated market, smart operators like yours truly have devised a whole bundle of different instruments which can help you manage the risk. I might write about some of the more complicated ones in a later post if people are interested (CDO/CLOs, strip/stack hedges and bond swaps with option toggles come to mind) but let's stick to the basics for now. (i) Swaps A swap is one of the most common forms of hedge instrument, and they're used by pretty much everyone that can afford them. The language is complicated but the concept isn't, so pay attention and you'll be fine. This is the most important part of this section so it'll be the longest one. Swaps are derivative contracts with two counterparties (before you ask, you can't trade 'em on an exchange - they're OTC instruments only). They're used to exchange one cash flow for another cash flow of equal expected value; doing this allows you to take speculative positions on certain financial prices or to alter the cash flows of existing assets or liabilities within a business. "Wait, Fuzz; slow down! What do you mean sets of cash flows?". Fear not, little autist. Ol' Fuzz has you covered. The cash flows I'm talking about are referred to in swap-land as 'legs'. One leg is fixed - a set payment that's the same every time it gets paid - and the other is variable - it fluctuates (typically indexed off the price of the underlying risk that you are speculating on / protecting against). You set it up at the start so that they're notionally equal and the two legs net off; so at open, the swap is a zero NPV instrument. Here's where the fun starts. If the price that you based the variable leg of the swap on changes, the value of the swap will shift; the party on the wrong side of the move ponies up via the variable payment. It's a zero sum game. I'll give you an example using the most vanilla swap around; an interest rate trade. Here's how it works. You borrow money from a bank, and they charge you a rate of interest. You lock the rate up front, because you're smart like that. But then - quelle surprise! - the rate gets better after you borrow. Now you're bagholding to the tune of, I don't know, 5 bps. Doesn't sound like much but on a billion dollar loan that's a lot of money (a classic example of the kind of 'small, deep hole' that's terrible for profits). Now, if you had a swap contract on the rate before you entered the trade, you're set; if the rate goes down, you get a payment under the swap. If it goes up, whatever payment you're making to the bank is netted off by the fact that you're borrowing at a sub-market rate. Win-win! Or, at least, Lose Less / Lose Less. That's the name of the game in hedging. There are many different kinds of swaps, some of which are pretty exotic; but they're all different variations on the same theme. If your business has exposure to something which fluctuates in price, you trade swaps to hedge against the fluctuation. The valuation of swaps is also super interesting but I guarantee you that 99% of you won't understand it so I'm not going to try and explain it here although I encourage you to google it if you're interested. Because they're OTC, none of them are filed publicly. Someeeeeetimes you see an ISDA (dsicussed below) but the confirms themselves (the individual swaps) are not filed. You can usually read about the hedging strategy in a 10-K, though. For what it's worth, most modern credit agreements ban speculative hedging. Top tip: This is occasionally something worth checking in credit agreements when you invest in businesses that are debt issuers - being able to do this increases the risk profile significantly and is particularly important in times of economic volatility (ctrl+f "non-speculative" in the credit agreement to be sure). (ii) Forwards A forward is a contract made today for the future delivery of an asset at a pre-agreed price. That's it. "But Fuzzy! That sounds just like a futures contract!". I know. Confusing, right? Just like a futures trade, forwards are generally used in commodity or forex land to protect against price fluctuations. The differences between forwards and futures are small but significant. I'm not going to go into super boring detail because I don't think many of you are commodities traders but it is still an important thing to understand even if you're just an RH jockey, so stick with me. Just like swaps, forwards are OTC contracts - they're not publicly traded. This is distinct from futures, which are traded on exchanges (see The Ballad Of Big Dick Vick for some more color on this). In a forward, no money changes hands until the maturity date of the contract when delivery and receipt are carried out; price and quantity are locked in from day 1. As you now know having read about BDV, futures are marked to market daily, and normally people close them out with synthetic settlement using an inverse position. They're also liquid, and that makes them easier to unwind or close out in case shit goes sideways. People use forwards when they absolutely have to get rid of the thing they made (or take delivery of the thing they need). If you're a miner, or a farmer, you use this shit to make sure that at the end of the production cycle, you can get rid of the shit you made (and you won't get fucked by someone taking cash settlement over delivery). If you're a buyer, you use them to guarantee that you'll get whatever the shit is that you'll need at a price agreed in advance. Because they're OTC, you can also exactly tailor them to the requirements of your particular circumstances. These contracts are incredibly byzantine (and there are even crazier synthetic forwards you can see in money markets for the true degenerate fund managers). In my experience, only Texan oilfield magnates, commodities traders, and the weirdo forex crowd fuck with them. I (i) do not own a 10 gallon hat or a novelty size belt buckle (ii) do not wake up in the middle of the night freaking out about the price of pork fat and (iii) love greenbacks too much to care about other countries' monopoly money, so I don't fuck with them. (iii) Collars No, not the kind your wife is encouraging you to wear try out to 'spice things up' in the bedroom during quarantine. Collars are actually the hedging strategy most applicable to WSB. Collars deal with options! Hooray! To execute a basic collar (also called a wrapper by tea-drinking Brits and people from the Antipodes), you buy an out of the money put while simultaneously writing a covered call on the same equity. The put protects your position against price drops and writing the call produces income that offsets the put premium. Doing this limits your tendies (you can only profit up to the strike price of the call) but also writes down your risk. If you screen large volume trades with a VOL/OI of more than 3 or 4x (and they're not bullshit biotech stocks), you can sometimes see these being constructed in real time as hedge funds protect themselves on their shorts. (3) All About ISDAs, CDS and Synthetic CDOs You may have heard about the mythical ISDA. Much like an indenture (discussed in my post on $F), it's a magic legal machine that lets you build swaps via trade confirms with a willing counterparty. They are very complicated legal documents and you need to be a true expert to fuck with them. Fortunately, I am, so I do. They're made of two parts; a Master (which is a form agreement that's always the same) and a Schedule (which amends the Master to include your specific terms). They are also the engine behind just about every major credit crunch of the last 10+ years. First - a brief explainer. An ISDA is a not in and of itself a hedge - it's an umbrella contract that governs the terms of your swaps, which you use to construct your hedge position. You can trade commodities, forex, rates, whatever, all under the same ISDA. Let me explain. Remember when we talked about swaps? Right. So. You can trade swaps on just about anything. In the late 90s and early 2000s, people had the smart idea of using other people's debt and or credit ratings as the variable leg of swap documentation. These are called credit default swaps. I was actually starting out at a bank during this time and, I gotta tell you, the only thing I can compare people's enthusiasm for this shit to was that moment in your early teens when you discover jerking off. Except, unlike your bathroom bound shame sessions to Mom's Sears catalogue, every single person you know felt that way too; and they're all doing it at once. It was a fiscal circlejerk of epic proportions, and the financial crisis was the inevitable bukkake finish. WSB autism is absolutely no comparison for the enthusiasm people had during this time for lighting each other's money on fire. Here's how it works. You pick a company. Any company. Maybe even your own! And then you write a swap. In the swap, you define "Credit Event" with respect to that company's debt as the variable leg . And you write in... whatever you want. A ratings downgrade, default under the docs, failure to meet a leverage ratio or FCCR for a certain testing period... whatever. Now, this started out as a hedge position, just like we discussed above. The purest of intentions, of course. But then people realized - if bad shit happens, you make money. And banks... don't like calling in loans or forcing bankruptcies. Can you smell what the moral hazard is cooking? Enter synthetic CDOs. CDOs are basically pools of asset backed securities that invest in debt (loans or bonds). They've been around for a minute but they got famous in the 2000s because a shitload of them containing subprime mortgage debt went belly up in 2008. This got a lot of publicity because a lot of sad looking rednecks got foreclosed on and were interviewed on CNBC. "OH!", the people cried. "Look at those big bad bankers buying up subprime loans! They caused this!". Wrong answer, America. The debt wasn't the problem. What a lot of people don't realize is that the real meat of the problem was not in regular way CDOs investing in bundles of shit mortgage debts in synthetic CDOs investing in CDS predicated on that debt. They're synthetic because they don't have a stake in the actual underlying debt; just the instruments riding on the coattails. The reason these are so popular (and remain so) is that smart structured attorneys and bankers like your faithful correspondent realized that an even more profitable and efficient way of building high yield products with limited downside was investing in instruments that profit from failure of debt and in instruments that rely on that debt and then hedging that exposure with other CDS instruments in paired trades, and on and on up the chain. The problem with doing this was that everyone wound up exposed to everybody else's books as a result, and when one went tits up, everybody did. Hence, recession, Basel III, etc. Thanks, Obama. Heavy investment in CDS can also have a warping effect on the price of debt (something else that happened during the pre-financial crisis years and is starting to happen again now). This happens in three different ways. (1) Investors who previously were long on the debt hedge their position by selling CDS protection on the underlying, putting downward pressure on the debt price. (2) Investors who previously shorted the debt switch to buying CDS protection because the relatively illiquid debt (partic. when its a bond) trades at a discount below par compared to the CDS. The resulting reduction in short selling puts upward pressure on the bond price. (3) The delta in price and actual value of the debt tempts some investors to become NBTs (neg basis traders) who long the debt and purchase CDS protection. If traders can't take leverage, nothing happens to the price of the debt. If basis traders can take leverage (which is nearly always the case because they're holding a hedged position), they can push up or depress the debt price, goosing swap premiums etc. Anyway. Enough technical details. I could keep going. This is a fascinating topic that is very poorly understood and explained, mainly because the people that caused it all still work on the street and use the same tactics today (it's also terribly taught at business schools because none of the teachers were actually around to see how this played out live). But it relates to the topic of today's lesson, so I thought I'd include it here. Work depending, I'll be back next week with a covenant breakdown. Most upvoted ticker gets the post. *EDIT 1\* In a total blowout, $PLAY won. So it's D&B time next week. Post will drop Monday at market open.
Hi everyone, this is my first ever post here. I run a little website called The Thought Experiment where I talk about various issues, some of them Singapore related. And one of my main interests is Singaporean politics. With the GE2020 election results, I thought I should pen down my take on what us as the electorate were trying to say. If you like what I wrote, I also wrote another article on the state of play for GE2020 during the campaigning period, as well as 2 other articles related to GE2015 back when it was taking place. If you don't like what I wrote, that's ok! I think the beauty of freedom of expression is that everyone is entitled to their opinion. I'm always happy to get feedback, because I do think that more public discourse about our local politics helps us to be more politically aware as a whole. Just thought I'll share my article here to see what you guys make of it :D Article Starts Here: During the campaigning period, both sides sought to portray an extreme scenario of what would happen if voters did not vote for them. The Peoples’ Action Party (PAP) warned that Singaporeans that their political opponents “might eventually replace the government after July 10”. Meanwhile, the Worker’s Party (WP) stated that “there was a real risk of a wipeout of elected opposition MPs at the July 10 polls”. Today is July 11th. As we all know, neither of these scenarios came to pass. The PAP comfortably retained its super-majority in Parliament, winning 83 out of 93 elected MP seats. But just as in GE2011, another Group Representation Constituency (GRC) has fallen to the WP. In addition, the PAP saw its vote share drop drastically, down almost 9% to 61.2% from 69.9% in GE2015. Singapore’s electorate is unique in that a significant proportion is comprised of swing voters: Voters who don’t hold any blind allegiance to any political party, but vote based on a variety of factors both micro and macro. The above extreme scenarios were clearly targeted at these swing voters. Well, the swing voters have made their choice, their roar sending 4 more elected opposition MPs into Parliament. This article aims to unpack that roar and what it means for the state of Singaporean politics going forward. 1. The PAP is still the preferred party to form Singapore’s Government Yes, this may come across as blindingly obvious, but it still needs to be said. The swing voter is by its very definition, liable to changes of opinion. And a large factor that determines how a swing voter votes is their perception of how their fellow swing voters are voting. If swing voters perceive that most swing voters are leaning towards voting for the opposition, they might feel compelled to vote for the incumbent. And if the reverse is true, swing voters might feel the need to shore up opposition support. Why is this so? This is because the swing voter is trying to push the vote result into a sweet spot – one that lies between the two extreme scenarios espoused by either side. They don’t want the PAP to sweep all 93 seats in a ‘white tsunami’. Neither do they want the opposition to claim so much territory that the PAP is too weak to form the Government on its own. But because each swing voter only has a binary choice: either they vote for one side or the other (I’m ignoring the third option where they simply spoil their vote), they can’t very well say “I want to vote 0.6 for the PAP and 0.4 for the Opposition with my vote”. And so we can expect the swing voter bloc to continue being a source of uncertainty for both sides in future elections, as long as swing voters are still convinced that the PAP should be the Government. 2. Voters no longer believe that the PAP needs a ‘strong mandate’ to govern. They also don’t buy into the NCMP scheme. Throughout the campaign period, the PAP repeatedly exhorted voters to vote for them alone. Granted, they couldn’t very well give any ground to the opposition without a fight. And therefore there was an attempt to equate voting for the PAP as voting for Singapore’s best interests. However, the main message that voters got was this: PAP will only be able to steer Singapore out of the Covid-19 pandemic if it has a strong mandate from the people. What is a strong mandate, you may ask? While no PAP candidate publicly confirmed it, their incessant harping on the Non-Constituency Member of Parliament (NCMP) scheme as the PAP’s win-win solution for having the PAP in power and a largely de-fanged opposition presence in parliament shows that the PAP truly wanted a parliament where it held every single seat. Clearly, the electorate has different ideas, handing Sengkang GRC to the WP and slashing the PAP’s margins in previous strongholds such as West Coast, Choa Chu Kang and Tanjong Pagar by double digit percentages. There is no doubt from the results that swing voters are convinced that a PAP supermajority is not good for Singapore. They are no longer convinced that to vote for the opposition is a vote against Singapore. They have realized, as members of a maturing democracy surely must, that one can vote for the opposition, yet still be pro-Singapore. 3. Social Media and the Internet are rewriting the electorate’s perception. In the past, there was no way to have an easily accessible record of historical events. With the only information source available being biased mainstream media, Singaporeans could only rely on that to fill in the gaps in their memories. Therefore, Operation Coldstore became a myth of the past, and Chee Soon Juan became a crackpot in the eyes of the people, someone who should never be allowed into Parliament. Fast forward to today. Chee won 45.2% of the votes in Bukit Batok’s Single Member Constituency (SMC). His party-mate, Dr. Paul Tambyah did even better, winning 46.26% of the votes in Bukit Panjang SMC. For someone previously seen as unfit for public office, this is an extremely good result. Chee has been running for elections in Singapore for a long time, and only now is there a significant change in the way he is perceived (and supported) by the electorate. Why? Because of social media and the internet, two things which the PAP does not have absolute control over. With the ability to conduct interviews with social media personalities as well as upload party videos on Youtube, he has been able to display a side of himself to people that the PAP did not want them to see: someone who is merely human just like them, but who is standing up for what he believes in. 4. Reserved Election Shenanigans and Tan Cheng Block: The electorate has not forgotten. Tan Cheng Bock almost became our President in 2011. There are many who say that if Tan Kin Lian and Tan Jee Say had not run, Tony Tan would not have been elected. In March 2016, Tan Cheng Bock publicly declared his interest to run for the next Presidential Election that would be held in 2017. The close result of 2011 and Tan Cheng Bock’s imminent candidacy made the upcoming Presidential Election one that was eagerly anticipated. That is, until the PAP shut down his bid for the presidency just a few months later in September 2016, using its supermajority in Parliament to pass a “reserved election” in which only members of a particular race could take part. Under the new rules that they had drawn up for themselves, it was decreed that only Malays could take part. And not just any Malay. The candidate had to either be a senior executive managing a firm that had S$500 million in shareholders’ equity, or be the Speaker of Parliament or a similarly high post in the public sector (the exact criteria are a bit more in-depth than this, but this is the gist of it. You can find the full criteria here). And who was the Speaker of Parliament at the time? Mdm Halimah, who was conveniently of the right race (Although there was some hooha about her actually being Indian). With the extremely strict private sector criteria and the PAP being able to effectively control who the public sector candidate was, it came as no surprise that Mdm Halimah was declared the only eligible candidate on Nomination Day. A day later, she was Singapore’s President. And all without a single vote cast by any Singaporean. Of course, the PAP denied that this was a move specifically aimed at blocking Tan Cheng Bock’s bid for the presidency. Chan Chun Sing, Singapore’s current Minister of Trade and Industry, stated in 2017 that the Government was prepared to pay the political price over making these changes to the Constitution. We can clearly see from the GE2020 results that a price was indeed paid. A loss of almost 9% of vote share is very significant, although a combination of the first-past-the-post rule and the GRC system ensured that the PAP still won 89.2% of the seats in Parliament despite only garnering 61.2% of the votes. On the whole, it’s naught but a scratch to the PAP’s overwhelming dominance in Parliament. The PAP still retains its supermajority and can make changes to the Constitution anytime that it likes. But the swing voters have sent a clear signal that they have not been persuaded by the PAP’s rationale. 5. Swing Voters do not want Racial Politics. In 2019, Heng Swee Keat, Singapore’s Deputy Prime Minister and the man who is next in line to be Prime Minister (PM) commented that Singapore was not ready to have a non-Chinese PM. He further added that race is an issue that always arises at election-time in Singapore. Let us now consider the GE2015 results. Tharman Shanmugaratnam, Singapore’s Senior Minister and someone whom many have expressed keenness to be Singapore’s next PM, obtained 79.28% of the vote share in Jurong GRC. This was above even the current Prime Minister Lee Hsien Loong, who scored 78.63% in Ang Mo Kio GRC. Tharman’s score was the highest in the entire election. And now let us consider the GE2020 results. Tharman scored 74.62% in Jurong, again the highest scorer of the entire election, while Hsien Loong scored 71.91%. So Tharman beat the current PM again, and by an even bigger margin than the last time. Furthermore, Swee Keat, who made the infamous comments above, scored just 53.41% in East Coast. Yes, I know I’m ignoring a lot of other factors that influenced these results. But don’t these results show conclusively that Heng’s comments were wrong? We have an Indian leading both the current and future PM in both elections, but yet PAP still feels the need to say that Singapore “hasn’t arrived” at a stage where we can vote without race in mind. In fact, this was the same rationale that supposedly led to the reserved presidency as mentioned in my earlier point. The swing voters have spoken, and it is exceedingly clear to me that the electorate does not care what our highest office-holders are in terms of race, whether it be the PM or the President. Our Singapore pledge firmly states “regardless of race”, and I think the results have shown that we as a people have taken it to heart. But has the PAP? 6. Voters will not be so easily manipulated. On one hand, Singaporeans were exhorted to stay home during the Covid-19 pandemic. Contact tracing became mandatory, and groups of more than 5 are prohibited. But on the other hand, we are also told that it’s absolutely necessary to hold an election during this same period, for Singaporeans to wait in long lines and in close proximity to each other as we congregate to cast our vote, all because the PAP needs a strong mandate. On one hand, Heng Swee Keat lambasted the Worker’s Party, claiming that it was “playing games with voters” over their refusal to confirm if they would accept NCMP seats. But on the other hand, Heng Swee Keat was moved to the East Coast GRC at the eleventh hour in a surprise move to secure the constituency. (As mentioned above, he was aptly rewarded for this with a razor-thin margin of just 53.41% of the votes.) On one hand, Masagos Zulkifli, PAP Vice-Chairman stated that “candidates should not be defined by a single moment in time or in their career, but judged instead by their growth throughout their life”. He said this in defense of Ivan Lim, who appears to be the very first candidate in Singaporean politics to have been pushed into retracting his candidacy by the power of non-mainstream media. But on the other hand, the PAP called on the WP to make clear its stand on Raeesah Khan, a WP candidate who ran (and won) in Sengkang GRC for this election, stating that the Police investigation into Raeesah’s comments made on social media was “a serious matter which goes to the fundamental principles on which our country has been built”. On one hand, Chan Chun Sing stated in 2015, referring to SingFirst’s policies about giving allowances to the young and the elderly, “Some of them promised you $300 per month. I say, please don’t insult my residents. You think…. they are here to be bribed?” On the other hand, the PAP Government has just given out several handouts under its many budgets to help Singaporeans cope with the Covid-19 situation. [To be clear, I totally approve of these handouts. What I don’t approve is that the PAP felt the need to lambast similar policies as bribery in the past. Comparing a policy with a crime is a political low blow in my book.] I could go on, but I think I’ve made my point. And so did the electorate in this election, putting their vote where it counted to show their disdain for the heavy-handedness and double standards that the PAP has displayed for this election. Conclusion I don’t say the above to put down the PAP. The PAP would have you believe that to not support them is equivalent to not wanting what’s best for Singapore. This is a false dichotomy that must be stamped out, and I am glad to see our swing voters taking a real stand with this election. No, I say the above as a harsh but ultimately supportive letter to the PAP. As everyone can see from the results, we all still firmly believe that the PAP should be the Government. We still have faith that PAP has the leadership to take us forward and out of the Covid-19 crisis. But we also want to send the PAP a strong signal with this vote, to bring them down from their ivory towers and down to the ground. Enough with the double standards. Enough with the heavy-handedness. Singaporeans have clearly stated their desire for a more mature democracy, and that means more alternative voices in Parliament. The PAP needs to stop acting as the father who knows it all, and to start acting as the bigger brother who can work hand in hand with his alternative younger brother towards what’s best for the entire family: Singapore. There is a real chance that the PAP will not listen, though. As Lee Hsien Loong admitted in a rally in 2006, “if there are 10, 20… opposition members in Parliament… I have to spent my time thinking what is the right way to fix them”. Now, the PAP has POFMA at its disposal. It still has the supermajority in Parliament, making them able to change any law in Singapore, even the Constitution at will. We have already seen them put these tools to use for its own benefit. Let us see if the PAP will continue as it has always done, or will it take this opportunity to change itself for the better. Whatever the case, we will be watching, and we will be waiting to make our roar heard once again five years down the road. Majulah Singapura! Article Ends Here. Here's the link to the actual article: https://thethoughtexperiment.org/2020/07/11/ge2020-the-roar-of-the-swing-vote And here's the link to the other political articles I've written about Singapore: https://thethoughtexperiment.org/2020/07/07/ge2020-the-state-of-play/ https://thethoughtexperiment.org/2015/09/10/ge2015-voting-wisely/ https://thethoughtexperiment.org/2015/09/05/expectations-of-the-opposition/
2 months back at trading (update) and some new questions
Hi all, I posted a thread back a few months ago when I started getting seriously back into trading after 20 years away. I thought I'd post an update with some notes on how I'm progressing. I like to type, so settle in. Maybe it'll help new traders who are exactly where I was 2 months ago, I dunno. Or maybe you'll wonder why you spent 3 minutes reading this. Risk/reward, yo. I'm trading 5k on TastyWorks. I'm a newcomer to theta positive strategies and have done about two thirds of my overall trades in this style. However, most of my experience in trading in the past has been intraday timeframe oriented chart reading and momentum stuff. I learned almost everything "new" that I'm doing from TastyTrade, /options, /thetagang, and Option Alpha. I've enjoyed the material coming from esinvests YouTube channel quite a bit as well. The theta gang type strategies I've done have been almost entirely around binary event IV contraction (mostly earnings, but not always) and in most cases, capped to about $250 in risk per position. The raw numbers: Net PnL : +247 Commissions paid: -155 Fees: -42 Right away what jumps out is something that was indicated by realdeal43 and PapaCharlie9 in my previous thread. This is a tough, grindy way to trade a small account. It reminds me a little bit of when I was rising through the stakes in online poker, playing $2/4 limit holdem. Even if you're a profitable player in that game, beating the rake over the long term is very, very hard. Here, over 3 months of trading a conservative style with mostly defined risk strategies, my commissions are roughly equal to my net PnL. That is just insane, and I don't even think I've been overtrading. 55 trades total, win rate of 60%
33 purely directional trades - 57.5% win
18 long call or long put positions, +692, 55% win
15 call or put verticals, -121, 60% win
22 neutral / other trades
13 iron condors, +345, 77% win rate
7 strangles, -163, 71% win rate
1 straddle, -310, 0% win rate
1 butterfly, -83, 0% win rate
PTON call purchased and held through earnings, sold the morning of announcement +410
Trading the range on the daily chart in GLD from 158 up to 165, a mix of various calls +245
NKLA 30 put purchased before the close on the day it went north of 100, just a pure fade +215
EWZ 22/26 strangle that I held just way too long as it beat me up day after day from May 20-Jun 3, -316
ZM pre earnings vertical, fading another 2 SD move (the day it hit 200 for the first time). Was expecting a post-earnings selloff given the magnitude of the up move. Stock basically hasn't had a down tick since. Max loss -247
EWW 29 straddle, put on around the same time as the EWZ strangle. Rolled from Jun to Jul to no avail. Out at a -310 loss.
This is pretty much where I expected to be while learning a bunch of new trading techniques. And no, this is not a large sample size so I have no idea whether or not I can be profitable trading this way (yet). I am heartened by the fact that I seem to be hitting my earnings trades and selling quick spikes in IV (like weed cures Corona day). I'm disheartened that I've went against my principles several times, holding trades for longer than I originally intended, or letting losses mount, believing that I could roll or manage my way out of trouble. I still feel like I am going against my nature to some degree. My trading in years past was scalping oriented and simple. I was taught that a good trade was right almost immediately. If it went against me, I'd cut it immediately and look for a better entry. This is absolutely nothing like that. A good trade may take weeks to develop. It's been really hard for me to sit through the troughs and it's been even harder to watch an okay profit get taken out by a big swing in delta. Part of me wonders if I am cut out for this style at all and if I shouldn't just take my 5k and start trading micro futures. But that's a different post... I'll share a couple of my meager learnings:
Larger bid/ask spreads make it almost impossible to trade the higher priced names, even if you have a correct assumption. I have traded some bigger underlyings during this time like LULU and NVDA. They are just tough fills, both getting in and getting out. I almost want to say that you shouldn't even bother trading underlyings bigger than a 10 cent bid/ask spread with a small account.
Get an idea of the timeframe you're interested in holding before putting anything on. Have a plan for entering and exiting everything that goes beyond "I'll take this trade off at 50%". You can use TA, you can use a news catalyst, a binary event, just have something. Countless sources out there talk about trading a plan. It doesn't have to be the perfect plan, it just has to be "a" plan.
Undefined risk trades in tiny accounts need hard stops. Yes, some of the studies say that you'll do better without having fixed stop loss rules (50% of max loss, 100% of max loss) -- but what the studies don't say is the effect that it will have on you, mentally. I got pretty bent out of shape over how badly EWZ and EWW went against me -- much more than I expected. It made no sense, as I've lost way more on the turn of a card in .5 seconds and been unfazed. I was unprepared for the mental toll that it took waking up day after day, watching positions move further and further against me. Great time to be short calls during the mother of all rallies.
My initial plan for undefined risk trades in my account was that I would only do them in ETFs. Logic being that I'm just not going to wake up to an accounting scandal or a buyout and take a $1k loss on the chin. I later expanded my range into lower priced underlyings like BBBY, TLRY, and yes, AAL. But these ETFs can and do move (I learned the hard way) and can soak up a surprising amount of BP. It might be better to have 5 iron condors taking up $1000 of BP @ 200 each instead of 2 strangles @ 500 each.
My new questions :
My big wins felt like I simply leaned on my TA background or got lucky. My big losses, I sure felt like I earned those, through mistakes I've definitely since identified. The stuff in the middle, I'm just not sure. I'm up money, but it feels like I'm just spinning my wheels. My win rate is good, but I still struggle with expectations about how quickly a trade should progress. What is the next step of the process for a newer options trader? I've read some stuff on narrower spreads + more contracts vs. wider spreads and fewer contracts. Is there a number where I should just keep doing what I'm doing until I reach a specific # of occurrences? Should I even think about branching out into different strategies yet (ratio spreads, jade lizards, etc) or continue to work on these basics?
I still feel like I am super weak in delta management. In some cases I feel like I've taken a loss simply because I didn't know what the proper management techniques were. I understand the concept of rolling out in time for a credit, but I just don't think it's in my nature to hold trades for longer than a month, and even that is hard for me. At what delta is it appropriate to start thinking about hedging?
Every time I put on a credit spread for a 2-3 day move and am directionally correct, I often wish that I had just bought a naked option. I've caught several big moves this way in things like AAPL; most recently I bought the FB dip to the 50 day MA around 215 and took it off today at 225 (which was always my plan) -- it leads me to wonder if my expectations for credit spreads are completely out of line. I can't lie, it feels bad to catch a 10 point move and only make $40, haha. What is the ideal timeframe for a credit spread to be left on? Is it better to just buy premium with a stop loss and have a more profitable risk/reward equation for situations like the above where the only intent is to hold for a couple days?
Here's a random question -- other than when the BPR hit is too much (ie names over $50) for undefined risk, would you rather hold 1) a strangle for 10-14 days or 2) an iron condor for 25-30 days? So far my criteria for IC vs strangle has largely been driven by the risk profile and BPR and not so much profit potential in X number of days. If you're collecting the standard 1/3rd on the IC and taking the trade off at 50% (if you're lucky) , it seems like it takes about a month to get there, most of the time.
That's enough of this wall of text for now. If you made it this far, I salute you, because this shit was even longer than my last post.
Reason for Hindutva (Request the Mods to pin this if they wish to)
Big long post coming up. Okay. This is a reply to one person's comment about Hindutva in this sub, and I felt that anybody who is looking for the reason for Hindutva should read this, hence I'm posting this as a separate post here. Any changes to my post are welcomed and I apologize beforehand for the looong post and any mistake/error that may have crept in. Please suggest changes if any needed. There is a direct comparison between Indian conservatives and (usually) American/Western RW. Thus, Western definitions and interpretations of social & political issues (binaries like Left Wing vs Right Wing, secular vs communal, etc.) are mapped directly onto India with little to no understanding of either the dynamics of Indian society, or its history. Let's talk about one: Islamophobia. In countries like America, Islam is a micro-minority that is growing slowly, and because of the appearance of being harassed by Right Wing Americans for over two decades (and the general perception of Muslims, their unnecessary harassment at the hands of law enforcement & general public), there exists sympathy for their community from the "inclusive Left", just like there's sympathy for the Black community ( bec. of higher levels of poverty, ghettoisation, etc.). This exists for Brown skinned Hindus too. There's an appearance of their community being 'otherised' in society over the last 20 years, and because of diversity, inclusion, & identity politics, Muslim community has found a new supporter in the Left Wing (SJW, Democrats, etc.). Other than 9/11 and a few other isolated terror incidents, Islamic terrorism has not impacted America to the level White supremacist & police shootings/killings have, and the vast majority of deaths have not happened at the hands of Muslims. There are jihādi nutjobs in the Muslim community, and I'm sure the FBI is tracking every single one of them down to keep America safe. Then there's the case of RW White supremacists who are literally "phobic" about Muslims and Islam, thinking that all Muslims (in America) are terrorists by default, and want to halt immigration to Muslim countries, and want to send Muslims back to their home countries. The majoritarian Christian community has the (relatively) large American conservative population in a tight grip, so the question of Islamic proselytism, and the establishment of a Shari'a state simply doesn't exist as a major threat to America right now. Let's just say that there's currently no major threat from their community to America as a whole (I don't think the govt and intel agencies would allow that to happen). Islam is a slightly different flavour in America than in India. Let's walk (fly?) over to India. The Muslim community is the second largest majority. Their population in India is nearly 3/4th the population of America. ~200 million Muslims live in India. India is surrounded by 2-3 Muslim countries (Pak, Afg, Bang). The history of the relationship between Hindus and Muslims is NOT peaceful. Muslims ruled tyrannically over the Hindus for over 500 years, oppressed them, destroyed thousands (>30000) of holy sites & temples and then just as a Hindu empire was being re-established, the British swooped in to lord over India for ~150 years. India is probably the only major failure of Islam, since they were unable to convert majority Hindus to Islam. Countries like Syria, Jordan and Israel/Palestine, which were Christian & Jewish lands were fully occupied by Islamic forces. Powerful empires in ancient & medieval Iraq - Iran fell to Islamic forces, who gave the locals two options: convert or die. To save their lives, the entire stretch from Turkey and Israel/Palestine to Iran converted to Islam. Millions of non Muslim pagans have died at the hands of Muslims. Buddhist majority countries like Afghanistan fell to Islamic invaders and Central Asia was also taken over by them. Over the centuries there was a forceful adoption and integration of Islam in these societies and historic native pagan and non Muslim religious sites were systematically destroyed and mosques established atop them. Simply put, Central, West and South West Asia converted to Islam under the sword. Not due to choice. Islam is an extremely regressive faith that refuses to evolve. Coming back to India. In 1947, an entire country was ripped apart from the motherland India and was formed on religious lines (Pakistan and later, Bangladesh). Now, every nation from Turkey in the West to Afghanistan & Pakistan in the east was one large Muslim bloc. East of India, countries like Malaysia and Indonesia became Muslim, China was atheist and Myanmar and Sri Lanka were/are far too weak to stand up with India to counter these foreign invading Islamic (& Christian) forces. After Independence, the government tried to establish a secular state (again, trying to copy paste from the West), with no real understanding of the real India, or what it meant for the average Indian to be part of the Dharmic faiths (Hinduism and it's daughtesister religions). Separation of Church and State is a very Western concept, and shouldn't have been implemented in India. The British had divided Hindus to such an extent that there was no real identity for Hindus to mould or shape their community, and start fresh. On the other hand, Muslims did have a model to look up to: Saudi Arabia version of Sunni Islam, the medieval Indian Islam, and Iran's Shia Islam. Now, successive governments slowly began to appease Muslims for their vote, because the Muslim community was less fragmented than the Hindu community, and tended to vote as a bloc for certain political parties. The Hindu community on the other hand, was broken up into several small caste based fragments, and regional political parties rose to represent may of these individual communities. Hindus tended to vote as a caste instead of as a religion. Politicians being politicians, and with ample amounts of interference from foreign actors, Hindu community has never been united as a single bloc in the last 70 years. Add to this the shift of the Hindu populace towards the left (socialist, non religious) post-independence, and the majority Hindu community slowly lost touch with its faith, religion and Hindu social & religious issues. Coming back to the topic of Muslim invaders: as I stated earlier, Islamic invaders brought in their own tribalistic culture, and negatively influenced India's own historically superior society. For many Indian Muslims today, they see this Islamic rule as a kind of "Golden past" and the means to establish Islamic rule over India. However, for us Hindus, it is a matter of life and death and most importantly, self-preservation of the native culture and ideologies. Check out the Kashmir issue, and the cultural genocide and exodus of Kashmiri Pandit community from Kashmir at the hands of Islamists. There has been a slow but constant deracination in Kashmir, to establish it as a Muslim country following Shari'a law. 5000 villages and town names in Kashmir were changed to Islamic names from their historic Hindu/Buddhist names in the last 50 years. Hindu nationalism arose because of an anger of the Hindu population verily against this. "Hindutva is Hinduism that resists": Hindutva merely resists such attempts to erase Hindu and associated Dharmic faith history, it is a movement for Hindus to stand up for themselves and establish a Hindu state along Hindu Dharmic principles. It is a movement that resists the Muslim & Christian conversion activities in Indian states like Kerala, Kashmir, Assam and West Bengal (and their goal to establish a Islamic state very much like Kashmir, to drive out non Muslim 'kafirs'). This is a concerted campaign, bankrolled by foreign state actors like Saudi Arabia, Iran, Pakistan towards Islam, and Western countries like UK, France, and US for Christianity. Thus, Islamophobia cannot exist in India, because the term has no meaning here. Hindus are not irrationally scared of Muslims. The fear is justified in more ways than one. There is a brutal bloody history of Hindu oppression at the hands of Muslims (and even to this date it continues in Muslim countries), and there is a visual live evidence of what goes if India becomes a Muslim country. In countries like Pakistan and Afghanistan, religious minorities do not have any rights, and women are traded and sold like slaves. Hindu and Sikh women are kidnapped, forcefully converted to Islam and married off to men much older than them. In India, a similar practice is going on: i. Love Jihad - Muslim men take on Hindu names and prey on gullible girls from the Hindu faith and forcefully convert them to Islam after marriage. ii. Little girls as young as 7-8 years old are kidnapped and sold in Arab countries to rich sheikhs. Both of these have an overwhelming amount of evidence and reportage. Hindutva is a self respect political movement for the Hindus. The whole of the Middle East and North Africa (MENA) is Islamic, so many South American and European countries are state Christian, and some South East Asian countries are Buddhist too. There doesn't exist one single Hindu country for the self preservation and development of Hindus. Heck, a global minority religion like Judaism has a home state in Israel. And just to clarify, no, the establishment of a Hindu state does not mean Muslims or other minorities cannot live in India, or cannot practice their religion. A Hindu state would allow Muslims and Christians to practice their faiths without impinging and infringing on local faiths, without exploiting the natives, especially the poor and sub altern communities. A Hindu state would truly be a model for multi religious, multi cultural, diverse society because the nature of Hinduism itself is to accept and tolerate a multitude of diverse opinions and thoughts. Islam and Christianity have a history of killing alternative opinions and heterodox schools, while Hinduism accepts them, or at the least, tolerated their presence. If religions like Sikhism, Judaism, Zoroastrianism (Parsi), native tribal faiths, Buddhism, Jainism and even atheism can live in peace with Hindusz for over 1000 years of history, why cannot Muslims? Why can't Christians? End.
THE PURGE DAY 2: LOCKDOWN II: ELECTRIC CAR BOOGALOO
Victoria continues to get screwed by growing coronavirus infections with 191 new cases and a lockdown announced for metropolitan Melbourne from midnight on Wednesday, causing the ASX 200 to close flat as a result
RBA announces a holding pattern on interest and bond rates with the money printer aimed out the window ready to churn at a moment's notice
AfterPay goes into trading halt begging for money to cover the cash it pisses away on teenagers with spending problems, meanwhile the directors sell off shares for quick snags
Tesla stocks hit new highs yet again as Daddy Elon promises fresh tendies from the oven making autists everywhere jump for joy
Definitely at least one or both of these, DegenerateChild0 takes number one with DXN having an overall gain of 52.94%.
Largest loss from start to close
SPC_55 baked beans and spaghetti all over his sweater already as microcrap stock RFN loses 50% from $0.002 to $0.001. Will he be delisted in territory untested during THE PURGE? Or will another company lose more of its shit later in the week?
Largest gain from start to any point
mcfucking still out ahead with ANL maintaining the highest any point lead at 100%, proving between this and the last line that a penny stock is closer to a binary option than a serious investment
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