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https://twitter.com/PrettyN_Paidd/status/1209212320888561665

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Paula Pant

@AffordAnything

Nov 27, 2023

In mid-1700’s France, there lived an artist and writer on the brink of poverty.

His name was Denis Diderot.

And he made such a massive financial mistake that it remains a cautionary tale, even 300 years later. 👇🧵

He had been born into an established family, the son of a successful craftsman, and he obtained a Masters of Arts, bound for a noble career in clergy or law.

But Diderot dreamed of becoming a writer.

When Diderot was 21 years old, he dropped out of school.

His furious father disowned him, and Diderot lived a scrappy bohemian lifestyle for the next thirty years.

Yet he enjoyed this simple life. His robes were plain but comfortable. He furnished his sparse home with a tiny writing desk and a tattered straw chair.

Read 23 tweets

Paula Pant

@AffordAnything

Jan 27, 2021

Okay let's take a FIRE perspective on Wall Street Bets --

1) Earlier this week, there were 900k users on WSB. Today, within 72 hours, the users grew to 3.3 million. This indicates that many of the people piling into WSB recommendations are noobs

/thread /1

2) Newbie investors often lack the experience to assess risk/reward, to know if there's a bubble, to even know *what* a bubble means. They often have small holdings -- $3k, perhaps, or $5k -- but it represents an outsized proportion of their savings. A loss would hurt.

/2

3)Encouraging noobs who lack context, skill, judgment to pile into a short-term speculative trade is leading the sheep to slaughter.

Much has been said about "David & Goliath," the individual investor besting the hedge funds. That's a great narrative, but it masks ....

/3

Read 9 tweets

Paula Pant

@AffordAnything

Sep 23, 2020

https://twitter.com/vauhinivara/status/1308807717612552199

“And just like my fashion decisions might vary from circumstance to circumstance, my language decisions do too.”

——-
As a child, I made the choice to legally change my name from Pragya to Paula.

Often, well-intentioned white people will say “that’s a shame!”

(Thread)👇🏽 /1

https://twitter.com/vauhinivara/status/1308807717612552199

Their argument is: “that’s a shame, you should keep your culture, you should keep your identity.”

It took me 36 years to find the words to express how I’ve always felt: The real “shame” is that they think it’s appropriate to tell me how to identify, how to relate, who to be. /2

It’s easy for somebody else to dictate how you “should” feel, think, and behave, when they are not the ones who have to live with the daily consequences.

Same holds true for people who “should” your body, appearance, education, career, marriage, etc.

/3

Read 6 tweets

Paula Pant

@AffordAnything

Aug 17, 2020

I don't recommend individual stock picking for 90-95% of your portfolio (if you choose to do it at all).

But if you hold individual stocks, know your ideal sell price and/or stop loss price.

Unlike index funds, individual stocks are not necessarily ... /1 #Thread 👇🏾

... an asset that you want to buy-and-hold forever. After all, how many companies have lasted for 50+ years?

Instead, you'll want to decide -- upfront -- that once a stock crosses $ X per share, or enjoys Y% in gains, you'll either (1) sell, or (2) enter a stop-loss order. /2

A stop-loss order allows you to let the asset continue growing gains indefinitely, but automatically sells the stock once it drops below a threshold that you choose.

It allows unlimited upside but protects your downside, thus locking in your gain (or mitigating your loss). /3

Read 6 tweets

Paula Pant

@AffordAnything

Aug 5, 2020

“In a research working paper financed partly by [HUD], Mr. Garboden wrote that amateur investors were vulnerable to exploitation by those who “evangelize” the process and tend to play down the risks of investing in “low-end” urban real estate.”

/1 Thread
nytimes.com/2019/03/25/bus…

This is precisely why it’s so important to be thoughtful, cautious, and careful about who you’re learning from.

There are real estate “teachers” who play down the risks of leverage, of Class C properties, of turnkey companies, of all types of considerations.

And if you ... /2

... just blindly pick who you want to learn from, eeny-meeny-miney-mo style, then you might be getting education and/or advice from the wrong person.

I’ve heard people say, “Why shouldn’t I just take a $39 investing class on Udemy?” ...

/3

Read 4 tweets

Paula Pant

@AffordAnything

Aug 4, 2020

FIVE DAYS LEFT!! If you're a small biz owner, the deadline to apply for funds from the PPP is August 8th.

You can't apply directly; you need to go through a lender. Gusto.com/paula maintains a frequently-updated list of lenders still accepting applications. #thread /1

(Full disclosure, they're a podcast sponsor; you can get a free account for 3 months by using that link).

If you already have PPP funds, but need more cash, the EIDL is accepting applications. You can't use PPP and EIDL funds for the same purpose, but your biz CAN get both. /2

There's also the Employee Retention Tax Credit, a 50% tax credit for wages paid to qualifying employees between March 12 - Dec 31, 2020, up to a max of $10k in wages per employee.

To qualify you must show a significant decline in revenue and you CAN'T have taken a PPP loan. /3

Read 4 tweets

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