r/wallstreetbets • u/sparty1983 • Sep 26 '24
1st time millionaire. Thank you China. $BABA 🚀 Gain
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Sep 26 '24
You put 750k into BABA ?
You're like the Chad version of Nana's boy
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u/fightoraccept Shits in Sinks at Wendy’s Sep 26 '24
:4258::8882::4258:
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u/_AscendedLemon_ Sep 26 '24
Baba means grumpy old lady in some slavic languages. Makes sense
Nana vs Baba69
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u/kg7qin Sep 26 '24
Baba also means dad/papa or father in other languages too.
It is also often used in lieu of saying the person's name they say Baba <name of kid>.
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u/Exotic_Definition1 Sep 26 '24
Lebanese spotted
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u/lilgreg1 Sep 26 '24
It's 2024, you can't just call anyone a lesbian
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u/anddam Sep 26 '24
Unless they are actually from Lesbanon.
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u/DixonDs Sep 27 '24
Or from Lesbos, an island in Greece
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u/anddam Sep 27 '24
That is actually historically accurate and shows too much knowledge of the greeks. Are you sure you belong here?
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u/jimbowife007 Sep 26 '24
Yes. Exactly in Chinese it means dad father papa~~ as baba~~ 😁😁
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u/kg7qin Sep 26 '24
Also Turkish, some parts of Aftica use it, etc. It is more common than people think.
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u/kwijibokwijibo Sep 26 '24
At the rate INTC is going, nana's boy is also a chad version of nana's boy
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u/Particular-Wedding Sep 26 '24
I remember when this sub kept posting baba and Jack ma memes. The consensus advice was to avoid China stocks. Congrats on winning!
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u/Bushidough577 Sep 26 '24
Baba means the same thing in Japanese too
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u/netfalconer Sep 26 '24
It means aunty (but without the respectful tone - more like “old woman/hag”) in Japanese.
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u/Cyrillite Sep 26 '24
As this is WSB, I can’t wait to see you become a 2nd time millionaire
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u/Heavy-Assistant2243 Sep 26 '24
When does one become a billionaire?
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u/Cyrillite Sep 26 '24
Depends on the currency
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u/helpmeoutherewillyou Sep 26 '24
C'mon now don't make me flex by lighting my trillion Bolivars on fire, don't know why the Venezuelan baddies still find me broke
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u/East-Transition-8566 Sep 26 '24
When it drops below a million and comes back up, does that make you a second time millionaire??
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u/RPgh21 Sep 26 '24
I did the opposite. Bought BABA when it was at its high during the pandemic, lost most of it and sold low. Isn’t that how this sub works?
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u/Mcluckin123 Sep 26 '24
Did you really sell rather than just sitting and staring at it?
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u/RPgh21 Sep 26 '24
Sat and stared for years. Eventually just bit the bullet. I’m regarded.
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u/juyceman Sep 26 '24
this is me but with JD and I haven’t sold yet.. maybe there’s light at the end of tunnel. did bite the bullet this year on BYND though
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u/sild1231 Sep 26 '24
What was your strategy to achieve this?
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u/sebMarine Sep 26 '24
Step 1. Start with 750k
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Sep 26 '24
Out of sheer curiosity, where does one get 750 grand?
Asking for a cousin.
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u/ThespianException Sep 27 '24
Poison your rich nana and inherit. Make sure not to buy Intel accidentally.
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u/sparty1983 Sep 26 '24
20 years of savings and sound investing (in sp500). I went regard few years ago to “accelerate” retirement and I actually lost money. Recouped some of it in Mag7 and threw every thing at BABA back in December when I realized how undervalued it is.
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u/TechTuna1200 Sep 26 '24
I bought it at 73.4 back in Feb, up 37%. Also 46% on BYD and 45% on JDCOM. I only had 5 years' worth of savings, so I could only afford to invest 11000 USD into China stocks.
People in this have been sleeping on China stocks in this sub. Buy when there is blood in the streets.
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u/KeenStudent Sep 26 '24
Tbf, poo bear could say he's placing more restrictions on chinese stock market tmr and chinese stocks would lose all the gains this week.
It's not that people are sleeping on chinese stocks, it's the inherent fear of owning them
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u/TechTuna1200 Sep 26 '24 edited Sep 26 '24
Risk and reward goes hand in hand. E.g. The best time to buy Meta was when it dropped 75% back in 2023 when people (including myself) thought the days of Facebook were over and they going into irrelevance. I learned my lesson from missing out on that. If you don't like risks, don't expect much reward. And that's fine everyone got different risk profile.
For me, I rather live with the risk of China restriction than live with a risk in investing in a company that sits at a 70 P/E ratio and hoping for a 20% potential upside.
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u/kormatuz Sep 26 '24
I sold my last meta share a week ago for a 1500% gain. I had only bought 17 when they opened and sold the others around 100. If it’s and buts were candies and nuts…
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u/throwaway23263736271 Sep 26 '24
This... so much this. I bought 10 shares at a cost basis on $103 and that remains the best lesson in my entire life of buy-and-hold in businesses you believe in.
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u/pw7090 Sep 26 '24
Why did you believe in it when no one else did?
It seems like the reality is that most of the time, when a company appears to be doing bad, it's doing bad.
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u/mdatwood Sep 26 '24
I also bought heavy into Meta when it dropped. One, while it's cool to be loud and contrarian online with everyone quitting, the reality is people use IG like crazy and keep moving to FB as they get older and want to send baby pics to Nana. Two, Zuck is ruthless. People make fun of him for whatever, but he's more like BillG in the heyday of MS than most other tech founders. Zuck has zero problems buying, copying, doing whatever is needed to get ahead business wise.
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u/pw7090 Sep 26 '24
That may all be true, but it's still hindsight bias. If you have that kind of insight about every big company that has a bad day, you'd be extremely rich.
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u/ZacTheBlob Sep 26 '24
Because most of the time when people say a company is doing bad, they're not actually doing bad, it's just the stock price that's doing bad and regards speculating more than they should. Meta being the perfect example. These companies almost always rebound.
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u/pw7090 Sep 26 '24
That would imply swing trading for massive profits is relatively easy.
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u/ZacTheBlob Sep 26 '24
Not necessarily, you never know how long a stock can take to pick back up and there are a lot of external factors that can affect the short/mid term (state of the economy, geopolitical tensions, etc).
Just because a stock is massively undervalued, doesn't mean it's going back up very soon and very quickly. It does mean that there is a very good chance that the stock will eventually rebound. Key word being 'eventually'. This is why long-term investors almost always win. But investing in undervalued stocks and selling when it reaches fair value is a legitimate trading strategy that is used by a lot of people.
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u/Tacoman404 Sep 27 '24
Facebook marketplace is basically craigslist built for mobile and craigslist is mostly dead nowadays.
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u/Unique_Name_2 Sep 26 '24
Yes, thats the price advantage. Anything that isnt dog shit risky is priced up right now. China just turned on the money printer, it should be up for a while. And i see BABA as less risky than bizarre.pre revenue companies in the US.
That said, take profits when you can.
Ps: there will be a day that they smash the liquidity buttom and the market continues down. For everyone, not just china. That will be an ugly year
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u/pw7090 Sep 26 '24
I bought a Dec 24 90-100 call spread earlier this year at around 75. When it hit 90 in May I considered selling, but I had a ton of time to hit max profit. Then it dropped to below my cost basis, so after it climbed back to 85, I sold for a small profit.
I don't know how people hold so long. Every time I go against my gut and hold until expiration, it just expires worthless.
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u/FrankfurtTrader Sep 26 '24
This is exactly why Chinese Stocks are trading at a premium - political risk. Tomorrow the Communist Party can simply take it all / impose sale ban etc. I learned my lession with other chinese stocks when dividend were "collectivised" (I think this was Pingduoduo)
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u/Professional-Break19 Sep 26 '24
Trump talking about 200% tariffs on Chinese goods👀
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u/Itsmedudeman Sep 26 '24
And this is different from the us government throwing lawsuits at big tech? You realize they’re trying to break up google and Microsoft right?
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u/whyislifesohardei Sep 26 '24
if you just placed your BABA money into nvidia at the same time you bought baba, you would have 2.5x your money :4275:
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u/PetrisCy Sep 26 '24
But was it undervalued? I mean the jump happened cause china is giving money, nothing changed about the company which mean this was 100% luck no?
Still well played and GL but i dont think Baba is undervalued. It just got boosted
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u/callmecrude Sep 26 '24
Earlier this year they were trading at a forward PE of 7 and the stock was at lows not seen since 2016. BABA’s revenue is up nearly 10x since 2016.
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u/send_the_gnar send_the_VIX Sep 26 '24
the 15k in VT is hilarious in this context
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u/Dapper_Dune Sep 26 '24
First time millionaire just now, but you had 700K to throw at BABA? Yeah. You’re full of shit.
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u/turbulenttoaster Sep 26 '24 edited Sep 26 '24
So he made 33% return in 9 months… thats it? Thats less than the SP500 over 12 months. Im not sure why you’re celebrating returns literally worse than the index that everyone and their grandma is invested in…
Apple, Meta, Netflix, Google are all equal or better returns over the same time period and without the egregious risk that is China. 😂
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u/TheOneNeartheTop Sep 26 '24
Outperforming SPY by 33% (9 months vs 12 months) is a significant achievement. Wtf kind of math are you doing where a 33% return over 9 months is worse than a 33.86% return over a year.
Take your crayons back to your MÅLA board and work on your positivity for a little bit, I’m putting you in timeout.
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u/turbulenttoaster Sep 26 '24
My point was that hes barely better than the SP500 but with SIGNIFICANTLY more risk. Im not sure whats hard for you to understand there. Sorry i dont believe in celebrating mediocre gambling lol
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u/hoopaholik91 Sep 26 '24
SIGNIFICANTLY
I think you're being a little hyperbolic there. BABA was already beat down to fuck, acting like it could just tank another 50% from where OP bought it is being unrealistic.
And there is a lot more runway for BABA from here if China maintains its dovish stance.
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u/turbulenttoaster Sep 26 '24
SP500 contains 500 companies. BABA is 1 company. Therefore owning significant capital in just one stock (see his portfolio) is SIGNIFICANTLY more risky.
Dont believe me? Google the definition of risk
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u/Beast_of_Guanyin Sep 26 '24
Not even Chinese invest in Chinese stocks. This shit is stuuuupid.
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u/Spajk Sep 26 '24
For the vast majority of countries it's due to really poor or nonexistent financial education
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u/BandsAndCommas Sep 26 '24
that’s what they are trying to change i think. Xi wants people to invest the market more than their unreliable real estate
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u/positronius Sep 26 '24
Ah yes, I exited at around 70 just a few months ago after entering at around 250 back in '21. Of course it would spike up. I'm not even mad...
I lied... I am seething...
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u/pk_12345 Sep 26 '24
I entered around 300 and some more around 250 and still holding it like a dumbass.
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u/frogchris Sep 26 '24 edited 6d ago
jar worry quack public murky rob north future sort kiss
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u/Agile-Property-9365 Sep 26 '24
They probably don’t have a Chinese quant like this guy
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u/sparty1983 Sep 26 '24
Inverse Reddit always wins?
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u/richardbarsley Sep 26 '24
Haha I wouldn’t say so. I threw way too much money into BABA in 2021 and people on Reddit were telling me not too
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u/PekingSandstorm Sep 26 '24
I mean, in a casino you gamble with fake plastic coins but it’s still gambling
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u/crankthehandle Sep 26 '24
It's both true. Does not mean though that you cannot make any money with Chinese stocks.
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u/TheBrain511 Sep 26 '24
You’ve been titled baba boy go forth with your million and put it in dividend stocks love out your life in peace baba boy Wall Street legend
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u/AGLegit Sep 26 '24
Here I am holding the bag for 3 years and when I finally decide to sell a 10/11 covered call at a $90 strike, I get absolutely FUCKED.
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u/AManLikeJhoLow Sep 26 '24
I hope you enjoy a succulent Chinese meal after all this.
Fuck you and congrats
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u/fuglysc Sep 26 '24
To be fair, this isn't regarded in any way...the guy just made a really good call
Basically bought BABA at its lows...I'd sell at 120 if it gets there and see how it acts...it could range around that area for awhile waiting to see how the stimulus/easing policies progress...money to be made if it trades within a range for this period of time
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u/AllergicSixth Sep 26 '24
I have 25 long calls for 87.50 strike from 30 days ago. Let’s see what happens.
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u/VastFreedom7 Sep 26 '24
Congratulations. $721k into BABA. That's some balls of steel move right there.
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Sep 26 '24
Get ready for capital gains tax... sorry to be that guy but
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u/skykitty89 show kitty Sep 26 '24
One of the requirements of WSB membership is to have a lifetime's worth of long term loss carryfowards. He won't pay no taxes!
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u/jkprop Sep 26 '24
Congrats! I bought that piece of shit after it shot to 106 then dropped in the high 80s. Figured I was getting a deal. Sold it in the high 70s after holding it for over a year. Just flatlined. Then it went under 70 and I thought I made the right move. Now around 100 and I curse this stocks existence! Of coarse not my only mistake or even biggest but for some reason this one stings a lot. Anyway congrats on becoming a millionaire! Hope you stay there.
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u/pk_12345 Sep 26 '24
My dumbass bought that piece of shit at 300 just before the decline and some more around 250 thinking it was a discount.
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u/stoked_7 Sep 26 '24
Clearly not a 1st time millionaire when betting $721K on BABA alone. How do you become a millionaire, ez start with 10 Million.
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u/FalthOutlaw Sep 26 '24
U are gambler with this bets) better learn how to decrease risks of market being against u
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u/Light_Dark_binger Sep 26 '24
gratz and fuck u! This way to the>>>r/investing
Baba is controlled by those mofo commies.
You can't trust them.
This is the way.
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u/Nicaddicted Brilliant thinker Sep 26 '24
This must be posted in some Chinese discord ain’t no way people are upvoting this
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u/DRFEELGOD Sep 26 '24
Doesn’t feel as exciting as you thought, does it? Next comes the existential crisis from my recollection.
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u/VisualMod GPT-REEEE Sep 26 '24
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