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X is a great platform. It’s a window into the minds of people who have anxieties and OCD on issues that either do not impact their lives or events that have not happened. The angst is real.
If you are distressed by anything external, the pain is not due to the thing itself, but to your estimate of it; and this you have the power to revoke at any moment. Marcus Aurelius, Meditations
New record
Pending home sales in the US have moved down to their lowest level on record, falling below the prior low from April 2020 (a month where much of US economy was shut down). The housing market is essentially frozen.
Video: youtube.com/watch?v=oksfdsIM…
$OPEN. Today I see a lot of posts crying about the stock price. My only intention is to go long three to five years and watch how this company changes as they stack ancillary services — Open Own and a mortgage product now rolling out to fifteen more states. If you’re not selling today, what does the daily price matter if the turnaround thesis is right?
$OPEN Today I see a lot of post on people crying about the stock price. My only intention with Opendoor stock is to go long
3 to 5 years to see how this company will change with everything they’re adding through ancillary services, Open Own and still rolling out mortgage product to 15 more states. If you’re not selling your stock today, what does the price of the stock matter if the thesis is correct on the turnaround?
David retweeted
Only 2.2% of mortgaged homes are underwater, per Goldman Sachs.
In 2008, it was roughly 1 in 4.
David retweeted
This may be the best video explaining the year in the mortgage and real estate industry that I've seen...the first car is January...we transition quickly to March...
💯
No matter how broke you are, how little money you have in your account, or how little you can save every month, it doesn't matter.
No rich person can beat a poor person with investing skills. Sooner or later, the poor guy will be richer.
I have a saying: A poor man making 26% a year beats a rich person making 25%.
YOU CAN BECOME RICH.
It's a question of skill.
If I snapped my fingers 🫰 and magically made you the best golfer in the world, you would be rich within 6 months.
If I snapped my fingers 🫰 and magically made you the best singer in the world, you would be rich within 6 months.
This list can go on forever: soccer player, chef, businessman, actor, designer, etc.
Investing is a skill. It has nothing to do with your starting point. Even an advantageous starting point (starting with a big position) can be catastrophic without skill.
As soon as your mind goes from performance-focused to skill-focused, money will lose its grip on you and skill will increase.
As skill increases, money will follow. Money is a byproduct of skill.
How do you acquire skill in investing?
Read, read, read, read. Go on Amazon, order a couple of books on investing, and read them. It’s better to have a few books and read them 10 times each than to buy 100 books and just be confused.
Don't use YouTube or X as your primary source.
Pick a strategy from the books that you intuitively feel suits you.
Start small and get to work. Invest and experience. Invest and see what happens. Invest and endure.
Continue reading and stay the hell out of forums.
After a while, you will intuitively feel where you are strong and where you are weak. You will start becoming an investor with a specific set of skills.
You will lose money like every basketball player loses games. But with a skill mindset, every loss is a victory.
After a couple of years of actively trying to improve your art of investing, better results will come. You will think it's luck, but it's not.
It's better stock picking, better positioning, better sizing, better risk management, better patience, better understanding, less fear, etc. And none of these could have happened if you didn't read, didn't learn, didn't try, and didn't lose.
If you start treating investing with the respect it deserves and as a skill worthy of mastering, your life will change. And investing will also bring a lot to your life other than money.
Investing is one of those things that are so simple to learn, yet so hard to master.
And the first step is to stop saying: I will work hard to get rich. Say instead: I will work hard to learn investing.
$OPEN has become somewhat of an enigma. Those of us who are invested understand the direction where the company is heading. Those who do not, tend to bash the company daily. There is a quote that sums all of this up.
“And those who were seen dancing were thought to be insane by those who could not hear the music". Nietzsche
Open is dancing and the critics cannot hear the music.
Well that was fun
🚨 BREAKING:
🇺🇸 PRESIDENT TRUMP WILL MAKE AN EMERGENCY ANNOUNCEMENT TO THE NATION TODAY AT 6:00 PM ET!
INSIDERS SAY HE WILL ANNOUNCE THE RESUMPTION OF MILITARY OPERATIONS AGAINST IRAN, WITH THE FIRST MISSILE STRIKES EXPECTED TONIGHT!
IT'S HARD TO PREDICT HOW HIGH OIL PRICES WILL SURGE OR HOW MUCH DAMAGE THIS WILL DO TO THE GLOBAL ECONOMY!
EXTREMELY BEARISH FOR GLOBAL MARKETS!!!
How does $OPEN make money on 4.99% financing special?
OPEN 4.99%: Opendoor funds ~$6-8K in points per loan on ~300 select homes/week (APR 5.84 vs 6.57 APOR), sells into secondary, keeps origination economics, zero balance-sheet risk. The offset: avg DOM collapsed from 67 days in March to 8 in October. 51% of Q4 P.Sold closed within 60 days. Every day shaved off carry on 3,000+ homes beats the one-time subsidy. Max price concession ~2.3% vs 5-10% a stale listing normally needs. Aged 120+ inventory at 17% vs 27% market. Q3 CM guided 3.2-3.5%; Q4 CM? We await guidance. Earnings Nov 5. $OPEN
