Investment Analyst Reacts to Finance TikToks - Bonus Edition

What is discussed, and when

1. 0:00 – 5:00: Richard Coffin, Strategy, Strife, Costco
2. 5:00 – 10:00: Strategy, Black Rock
3. 10:00 – 15:00: Strategy
4. 15:00 – 20:00: Black Rock, Strategy
5. 20:00 – 25:00: Strategy

Notable quotes from "Investment Analyst Reacts to Finance TikToks - Bonus Edition"

• Hello everyone. Welcome to the Plain Bagel. I'm your host Richard Coffin.

  about Richard Coffin · at 0:00

• Figures. The first $250 I would put into QQQ. It's made up of companies like Nvidia, Microsoft, and Google making up the Mag 7. Has faster growth, higher volatility, and…

  about Google LLC · at 0:51

• Suggestion. So, for those unaware, Stripe is a preferred share sold by Strategy, which is the Bitcoin treasury company that's raising a bunch of investor money to just buy…

  about Strategy · at 2:09

• Upping the ante with that. You want to do is go on a charting platform. I like to use tradingview.com. I think that one's the best. Then you're going to head over to the…

  about TradingView · at 3:54

• Seeing this, it's going to be fine. I got to be careful with this because I don't want to be labeled a Black Rock sympathizing globalist co-conspirator, but for the thousandth…

  about Black Rock · at 8:15

Who and what is mentioned in this episode?

People

• Richard Coffin — Person · 2 mentions · first at 0:01

Companies & orgs

• Strategy — Company · 7 mentions · first at 2:13
• Black Rock — Company · 2 mentions · first at 8:19
• Google LLC — Company · 1 mention · first at 0:55
• Costco — Company · 1 mention · first at 1:06
  Annually. The next $250 I would put into VTI. It's a whole US stock market in one fund like Apple, Tesla, and Costco. It's super simple, and you're just automating compounding without hype.
• TradingView — Company · 1 mention · first at 3:58
• Apple Inc. — Company · 1 mention
• CIGL — Company · 1 mention
• RVSN — Company · 1 mention

Products & tech

• Strife — Product · 2 mentions · first at 2:07
  Save this video and come back to it in a few years to see if I was right. Okay, I do have some issues with the Strife suggestion. So, for those unaware, Stripe is a preferred…

Full transcript with timestamps

0:00 Hello everyone. Welcome to the Plain Bagel. I'm your host Richard Coffin. Welcome to the 10th ever Tik Tok React Plain Bagel video. Uh hard to believe we've we've done 10 of these, but uh with us getting the news out of the US that the country has actually cut a deal to keep Tik Tok in the country. Sounds like we're going to be sticking around with this series uh for for better or for worse overall. Uh for those new to the channel, welcome. My name is Richard Coffin. I'm a registered portfolio manager, a CFA charter holder, and a CFP professional. And today I'll be reacting to some finance Tik Tok, some #notfinancial advice to give some input, some feedback, and try to make things constructive, educational, and to celebrate this anniversary of sorts. We have a super sized episode for you today. So, buckle up. We'll get through this together. And uh yeah, let's hop right into it. If I had just $1,000 to

0:46 invest in 2025, here's exactly how I would break it down. This is coming from a dude that used to live in his parents' basement to now being worth eight figures. The first $250 I would put into QQQ. It's made up of companies like Nvidia, Microsoft, and Google making up the Mag 7. Has faster growth, higher volatility, and averaging around 18% annually. The next $250 I would put into VTI. It's a whole US stock market in one fund like Apple, Tesla, and Costco. It's super simple, and you're just automating compounding without hype.

1:10 So, so just quickly on the ETFs, uh, not inherently, you know, high-risisk investments, but I will highlight that especially when it comes to QQQ, uh, these aren't as diversified of funds as they used to be. I think Nvidia, for example, is like 10% of QQQ now. And between these two funds, there's also a lot of overlap. I think roughly half of the positions by weight are effectively the same. So, you aren't actually really diversifying that much by buying these two different funds. Again, not inherently bad investments, but you are making a very active bet on US tech heavy uh large market cap companies. So, something to be aware of. Then, I would put $250 into STRF. It pays consistent 10% dividends with downside protection.

1:48 You can reinvest those dividends automatically for steady income. And finally, the remaining I would put into Bitcoin. It's digital gold scarce. It's global. It's decentralized. And institutions are recognizing its unmatched potential. This is the highest conviction, biggest upside, and strongest asymmetric bet. You lock it away, dollar cost average, and let scarcity drive returns. Make sure you save this video and come back to it in a few years to see if I was right. Okay, I do have some issues with the the Strife suggestion. So, for those unaware, Stripe is a preferred share sold by Strategy, which is the Bitcoin treasury company that's raising a bunch of investor money to just buy Bitcoin. So, they're effectively a leveraged Bitcoin proxy. And the issue is that these preferred shares and and the convertible notes that they're selling, they promise an interest rate, in this case a 10%

2:27 yield, there's no cash flow to pay those dividends. They're raising money buying Bitcoin. And then to pay those dividends that they're promising people, they're either selling their Bitcoin or raising more money from other investors to pay off the earlier investors, which some people made the comparison to a Ponzi scheme. Uh yes, it could do fine if Bitcoin continues to appreciate in value, but that's a lot of risk. I have no idea where that downside protection comment comes from. In fact, with preferred shares, shareholders take on a lot of risk because while this instrument acts like a bond in that it promises a fixed payment, a there's no face value or maturity or in this case, no conversion rate. So there's no date at which that lent amount is going to be paid back. And B, because it's technically not debt, it's classified as equity. There's no legal obligation to pay these dividends. strategy. If they

3:12 have a hard time, they can just stop paying these dividends to Strife shareholders, which will severely impact the value of the instruments they hold. So, I would definitely not categorize this as a safe investment. Also, in terms of consistent, they've paid two dividends so far. So, I don't know where that term's coming from. Maybe he means consistent as in the payment is fixed, like they they've promised 10% every payment. Uh, but yeah, it's uh definitely a lot of risks with this type of investment, as you should expect with something that's paying a 10% yield.

3:40 That's not typically sustainable. I'm going to show you how to make your first 10K as a trader trading option. And no, you don't need like tens of thousands of dollars to start doing this. You could literally do this with a couple hundred bucks to $1,000. Even better, just upping the ante with that. You want to do is go on a charting platform. I like to use tradingview.com. I think that one's the best. Then you're going to head over to the indicators tab and then you're going to search up the three EMAs by this author right here. Then you'll just add the 8,21 and 50 EMAs. Uh so quickly EMA stands for exponential moving average. It's just an average of the last however many days. So you can have a 100 day EMA for example. Um the average is a price over that period of time. It's called moving because every new day obviously the period is is one day forward uh both in terms of the first and the last state of that period.

4:26 And then exponential just means that it puts more weight on the more recent data points than the older data points. So, uh, just a quick explanation, the chart is basically just a an average of sorts of the prices we're seeing. This is going to be the 8, 21, and 50 EMAs. So, whenever stocks are above the moving averages, like so, we are clearly in an uptrend and we're probably going to continue up. So, this is when you want to be looking to buy calls. Whenever the markets are below the moving averages, like so, you're clearly in a downtrend and you're likely to continue to see new lows. So, you can either stay out of the market or you could buy puts and trade things to the downside. So, what I'm looking for is a level that price has rejected multiple times. Basically, a resistance level. So, right here, you can see the stock rejected, rejected, rejected, and rejected. So, we know that if it gets above, it's probably going to

5:10 make a big move up and you can target some of these highs for a continuation move. So, for time, I'm going to stop it there. Uh, he does keep going. He explains that later in the video, you also want volume, meaning that there's a lot of trading activity uh to kind of confirm the trends you're analyzing. And the appeal of these types of systems and the like is that they seem very simple and they give you a very clear yes or no. Right? What's funny is that in this video you can see examples of where this strategy would have gone horribly wrong.

5:36 Like you have here for example where the price is clearly above the uh moving average lines and yet the stock plummets thereafter. Meaning that you would lose a bunch of money if you had bought here. You'd basically be buying at the top if you're day trading. And then here you have the exact opposite where the price is below these moving averages and then surges right after. So, you have to be careful with these types of videos, right? Because anyone can take any trading pattern and make it look attractive uh in post, right? When you have the ability to go look historically for a segment of time that fits your narrative or fits your trading pattern in terms of making $10,000 from a few hundred or a few thousand with options.

6:10 Yes, they do introduce leverage uh which means that they sort of amplify the returns you can experience from a a standard stock by using options for that same company. Uh but you have to keep in mind that leverage also expands your downside, right? The chance of going to zero is much much much higher with call options and put options than it is with buying the actual underlying stock. And if you're betting everything to try and see this massive surge in return, uh it's very easy to to very quickly lose everything. Now, if you're someone who's interested in day trading and trying to see those massive upswings in value, have no fear. I won't leave you empty-handed. I'll share a proprietary plain bagel trading strategy that's just as likely to take you from a few hundred dollars to tens of thousands. So, basically what we're going to do here is we're going to take all of our money and always put it all on black. We can

6:58 ignore all the numbers here. Uh just focusing on the color strategy, picking the one next Tik Tok. A quick note that Richard is not actually gambling real money here and does not seriously endorse gambling. We hope that's obvious, but because Richard doesn't trust any of you, he felt the need to clarify. Anyway, sorry for interrupting. Back to the video. Today, I decided I'm going to be cashing out my entire retirement. I recently discovered, which I should have researched earlier, that my retirement is doing really well because 16% of my mutual funds are invested in Black Rockck and it doesn't sit well with me. Today, I'll be calling my financial advisor and I'm interested to know if anyone else has uh personally divested. How can I expect organizations to divest if I myself have mutual funds that are doing well because of Black Rockck, which is known to be harming communities. So yeah, I just felt called to share that.

8:12 And um if you're my family and you're seeing this, it's going to be fine. Uh, I got to be careful with this because I don't want to be labeled a Black Rock sympathizing globalist co-conspirator, but for the thousandth time, it's not Black Rockck that's buying single family properties in the United States, which is what I'm guessing she's talking about when she says harming communities. Maybe there's something else that I'm ignorant to, but their primary business is setting up funds that invest in publicly traded stocks. There are companies out there that are buying single family homes. for example, Black Stone, uh, which is where a lot of people make that mistake because the names are very similar, but they overall represent a small fraction of buying activity. So, you can still criticize the practice.

8:53 I'm not here to defend that, but Black Rockck's the wrong company. They do buy multi-tenant properties like apartment buildings and and purpose-built communities, but not individual houses. In terms of uh pulling her money out, I don't know if she means she's 16% invested in Black Rockck funds or or Black Rockck specifically, like the actual company since they're publicly traded stock. Um, and I'm Canadian, so I the rules are slightly different here. But I am aware that with the 401k, uh, while the options can be limited, there are typically other funds you can look into. So certainly a route worth exploring before pulling money out. And if you do withdraw that amount before a certain age, I think it's around 60 in the United States, there's actually a 10% penalty on whatever you withdraw in addition to income taxes. There are some exceptions where you can avoid that penalty, uh, such as in uh, periods of

9:38 financial hardship. There are also conditions where you can roll a 401k into a different type of account without a tax consequence. So, lots of other stuff to look into. But generally speaking, the benefit of the 401k is tax deferral, meaning that's best to leave the money in the account, let it grow tax deferred until you reach retirement when you can pull it out at a lower income tax bracket than you would be if you pulled it out earlier, say in your 30s. So, at least she's going to talk to her adviser. Hopefully, they can share that information. But just some stuff to be aware of.

10:03 So, how long will it take me to replace my income via the stock market? I had this crazy idea while on maternity leave to take one week of my leave benefit, invested in the stock market, and use that to sell covered calls to try to replace my income. I just jumped in without doing any math. But now that we're a month in, I've had some time to crunch the numbers and see how long it's going to take to actually generate enough money in premiums to replace my income. So, the amount that I started with was $1,542, which is the maximum benefit in the state of Washington for paid family leave. So far, I've been able to earn about a 10% return on that initial capital, but it's unrealistic to think that that amount would continue consistently week after week.

10:49 Okay. So, she made what was it? $150 roughly. So, I mean, we're we're a bit off, but she she's grounding her expectations. So, I'm I'm going to give her a chance. That's good. I'm glad that we're seeing that. So, I looked at a couple scenarios with different amounts of returns each week, and it the fastest that I could. She's talking about weekly returns. Oh no. 10%. Okay, guys. Unrealistic. Come on. We We can't earn 10% a week. 8%. Now we're talking. Oh, I had such high hopes for this one. potentially replace my income would be 31 weeks and a middle amount would be about a year.

11:37 Jesus annualized 5% a week is still like over a,000% a year. Okay, I'm sorry. You can't retire off $1,500. I'm sorry to be the bearer of bad news. I I know we were hoping for something different, but like these are crazy figures. I I know it's covered calls, guys but I I'm crashing out on the fourth video. I don't know if this I don't know if this extended video was a good idea. Basically, what I need to do is grow that $1,500 that I started with to somewhere between 20 and $30,000 in order to have enough capital to invest to earn about $1,500 a week selling covered calls. So, while this is definitely a slow process, it will generate income much faster than just investing in dividend stocks or just investing in the overall stock market in general.

12:31 Man, there is a lot of hype and excitement around covered call type strategies. Uh, which for the uninitiated, a covered call is when you own a stock and then you sell call options for that stock. meaning that you sell the right to someone else so that they can buy your stock at a predetermined price if it increases in value. And people like it because it feels like it's generating free money. You have a stock and while you own that stock, you're selling this contract, this right to buy it. And so long as the stock price doesn't increase in value, you get to keep that premium that you're earning, right? Sounds like a a great deal.

13:07 People don't understand the risk return trade-off you're accepting for that contract. What you're doing is you're cutting off your upside because the stock surges in value. You have to sell it to someone for less than that value, right? You you cap your upside and you only slightly compensate your downside with this premium whenever you do this trade. The idea of taking $1,500 to tens of thousands of dollars should be a red flag to anyone. It doesn't matter what the trading strategy is, right? You have to realize that whenever you're taking a strategy, someone's taking the other side of that arrangement and they're possibly doing more math than you are, right? In fact, there's a video posted by Ben Felix not that long ago that showed for broad-based ETFs that are covered calls, they over the long-term have underperformed their non-covered call equivalents uh when put side by side. And the problem is that

13:57 people look at the yield and they're like, "Wow, look at how much money I'm earning as income without recognizing how much they might be losing on the price side." In fact, we've seen funds get in trouble for just highlighting the yield while ignoring the fact that their ETF is falling in price. Covered calls a little controversial. Some people love them. Most people misunderstand how they work. And you should not buy these types of products if you don't understand how they work. So, I'll leave some resources you can click in the link in the description. Sorry if you want to check those out. But anyway, next Tik Tok.

14:25 You are crazy if you think that the way you are going to get rich is from making the money that you have right now and just investing it in the stock market. That's insane. Why? Because what you are actually doing is you're just letting other people get rich. Who gets really rich? The asset managers who manage your money, the banks that hold your capital, why do they get rich instead of you? Because what do they do? They take your money and they do something with it proactively. So they take your money and they take real risk with it. And I think unless you take risk with your money, but also with yourself, you're never going to get wealthy. And so you and I could go very viral on the internet every single day if we talked about how to invest your first $10,000 to get to $100,000. You could make you could get a lot of views on that. Except it's totally pointless. And if what we really want to do is elevate people to real

15:12 wealth where they they have enough money for all the things that they want in life, it's not done through investing. It is done through earning. That is the only way you make real money. Once you make real money, you can make more of it through investing. But in the beginning, you got to earn. That's it. Uh some misconceptions here. one, when it comes to asset managers, it's kind of the opposite. They don't actually take that much risk. There are funds where there will be like co-investment and the like. Um, but when you invest through BlackRock or these funds, they make their money by charging a fee for facilitating that investment, but they don't inherently have any of their own money at risk. It's actually something I find kind of frustrating with the whole Bitcoin conversation when people will say, "Look, the the institutions are coming. Black Rockck must believe in Bitcoin because look at how much money

15:50 how much Bitcoin they're buying for their funds." It's like they don't really care, you know? Well, they they want more investors to buy it because uh then they'll have a larger base to charge that fee against, but they don't really lose anything if that investment crashes or loses value. So, so they're a bit agnostic. They just want people to buy their different funds and be the one to offer all the types of funds so that they have the biggest net to catch investors in. Secondly, when it comes to their earnings versus investing, I can kind of agree with that. Um, in that most people should focus more of their efforts on increasing their earnings, uh, you know, improving their skills and things like that versus trying to improve their investment returns, you know, spending more time trading and the like, because there's there's much more, uh, marginal benefit over here. But investing very clearly helps, right? If

16:32 you put away $500 a month for 40 years, even if you earn just a 6% return, you'll end up with nearly a million dollars despite having only saved about a quarter of that amount through your earned money. Right? So, investing over a long period of time can still carry the majority of your net worth by retirement. I can agree that you shouldn't expect investing to make up for a lack of earnings or things like that, especially because that's when you get really dangerous with things like chasing returns and these day trading kind of high-risisk strategies. But yeah, just some things to clear up there in terms of the overall message.

17:04 When I sat down for the first time to learn how to trade, the first thing that my uncle said was everything I'm getting ready to teach you is all you need to know. And he told me that the ones that knew the least amount about trading that knew nothing prior were the most successful when it came to trading. How convenient. How convenient that the people who have no prior experience who who might be starting from scratch are going to be the most successful. It'd be a shame if if uh you were just selling a course to beginners to try and Oh, there it is.

17:37 Yeah. Okay. We have trader in 30 days challenge. Easy. And you know what? You'll be the most successful if uh you don't know what you're doing. People that already have previous knowledge, they develop biases when it comes to trading. They look for other things to incorporate. They have old habits. He said the ones that started fresh and took everything he said for face value were the most successful. So when he told that to me, I did exactly that. Everything he taught me is exactly what I've been using for the past 9 years. That's wild to stick to something and believe it fully for 9 years. You don't get to see any of the benefits of it the first few years because you've still got to master psychology. You still got to master the strategy itself and the instruments that you're trading.

18:17 But then to see the benefits that you reap, it's incredible. And I hope that you guys can understand that and try to experience the same thing for yourself. So don't forget to hit that follow button for more trading tips. You know what? I actually couldn't agree more. Sometimes the best returns come from sticking to the strategies that are simple that you know the best. Damn it. What I find frustrating about people who promote day trading courses is one, it's all pseudocience. like these people are just trademarking random patterns and indicators and then using cherrypicked stock prices and and past performance to to prove that they work. But also like that focus on psychology. It's like it's on one hand it's marketed as something that's so simple anyone can do it. If you don't know anything beforehand, this is still a winning ticket to to beat the markets.

19:06 But also it's such a handy out when people don't do well. Like investor psychology is a thing that we have evidence of impacting long-term performance. But when you're selling some sort of easy to follow formula for making money, you can't also play the card that emotions will somehow dictate your outcome. It's become a habit that the first thing I do whenever I see a Tik Tok now is is check the person's profile to see if they sell a course or some sort of service because it helps frame everything nicely. And I'd actually I' I'd recommend that for anyone who's looking at Tik Tok for advice and the like is, you know, look at the person's incentives, see what motivates them to tell you the messaging that they're sharing in the video.

19:41 Because, as Charlie Munger once famously put it, "Show me the incentives and I'll show you the outcome." You are an idiot if you're not watching these three stocks for Thursday's trading day. Finally, IPOs are back on fire with this new IPO today exploding over 60% into the close. And it looks like it's ready to squeeze much, much higher. It's funny, there used to be five best stocks to buy in 2025 or this year. Then it was five best stocks to buy in this month. Now we're talking weekdays. The three best stocks to buy Thursday, October 2025. First up on the list is the stock that exploded over 100% today in after hours on CIGL. This is an explosive looking continuation style setup, but it has to get broken out over this level first. What I want to see here on CIGL tomorrow is a strong break over this 540 level over the previous high of day. If we see that past tie get breaking in a strong way, I then want to

20:32 see price pull back and retest somewhere over five bucks a share and put in place a bottom. If we see price put in place a bottom over $5 after getting breaking out, we have range to the upside here all the way to $7.50 to the upside, giving us tremendous amount of range. But as always, no break, no trade. Number two looks even better, and it's the massive explosion today on Quantum News on RVSN. Now, this thing looks so Okay, look, I get the boxes. I I get we're drawing off of tops and bottoms of candles whatever.

21:01 What are these price projections? Why are we doubling our our money randomly? Is it just because the stock did really well the previous day? Is is that why we're we're forecasting like this? Is this what every weekday video is forecasting? Like that's that's crazy. Yeah. Okay. So, not none of the stocks got even close to to what he was projecting. But hey, it's one hell of an arrow he drew on there. I was half convinced just by the audacity. You have to be careful about these type of micro cap or or even nano cap stocks. Even sometimes these videos and and these types of traders can influence the stock price of this very low volume trading stock with these types of videos. So u I'm not accusing this guy of doing anything. I don't know who this guy is, but you know when you talk about these areas, you can move the price with this type of influence if you have enough of a following and you if you have Discord

21:53 groups and the like. So, you have to be careful uh because at times you could very well be the exit strategy for for some of these traders, right? I know America is $1 trillion in debt, but I know how we could solve this. Let me take the debt, bro. Someone has to do it. Someone has to step up and be a freaking trillion dollars in debt. And I'm not afraid to be that guy. Oh, man. Taking one for the team. You know what I'm saying? Who's it even in debt to? Who's the one that's gonna pay this debt? this debt doesn't even really exist. Let me be the one to have this debt, bro. Because then I could say I'm a trillion dollars in debt. I'm a trillionaire. You know what I'm saying?

22:33 That would make me a real trillionaire. I mean I I mean according to some influencers. Yeah. You just buy some properties while you're at it. On a on a serious note, funny TikTok, on a serious note, uh that question does actually circulate a lot. People wonder like who the hell is all this money to? Um the answer is actually most of the US government's debt is to US citizens because yes we talk about the US being in debt but again there's different parties right there's the government there's private corporations private investors um and the US government sells a lot of its bonds its debt to individuals to individuals and institutions there is about a fifth that's held intergovernment so there is this weird dynamic where you do actually have different departments of government owning its own debt on top of that most of US government debt is held domestically which makes consequential if the government were to ever default

23:21 on those payments, right? Because that means lost money for American citizens and American companies, right? It sounds great to just wipe out a debt and start from scratch, but huge consequences domestically. And in terms of that other third or quarter of of the debt outstanding, uh there are other countries like China and Japan are big holders. I believe they have nearly a trillion dollars each or around a trillion dollars each of US debt. And yeah, sadly a lot of consequences to having this guy take it all on, but I like that one. That was that was a good uh pallet cleanser for all the other ones.

23:51 Don't ever pay a debt that's been sent to a collection agency. Instead, let me show you how to make that [ __ ] completely disappear or at very least make it a hell of a lot cheaper. But Devon, I don't want it to negatively affect my credit. Fun fact, if it's already in collections, the damage is done. Your credit is already [ __ ] So, you might as well thug it out and try to save yourself some money. First things first, you need to understand how debt collectors actually work. Let's say you owe Chase Bank $2,000, but you don't pay it for 6 months. They're going to take your debt and they're going to sell it to a collection agency for $1,000. That agency is going to contact you, try to get you to pay the two grand. If you don't, they're going to offer you to settle your debt for 1,500. You don't do that, they're going to take your debt again, sell it to another collection agency for even cheaper, so on and so

24:26 forth. The cycle continues. So, the longer you hold out, the cheaper it's going to get, and get every agreement in writing. It does not matter what they agree upon over the phone. These people are [ __ ] scumbags. Second, as soon as this collection agency buys your debt, it is no longer yours. It is their debt now. You did not sign any agreement saying that you would be legally obligated to pay this collection agency any [ __ ] money at all until you verify who you are. You ever been called by a collection agency a million [ __ ] times and all they try to do is get you to say your name? They won't tell you who they are, where they're from, why they're calling you. The reason for that is because as soon as you say your full name, and assume that that debt is actually yours, you've now just given them a verbal signature or a verbal agreement that you're going to pay them that debt. Not to mention that some

25:02 debts have a statute of limitations, meaning that after a certain amount of time, they can't come after you in court and force you to pay that debt or sue you if you don't pay it. But in some situations when you say your name and assume that debt, that timer resets to zero. But let's say you already told them your name, you messed up. You already assumed the debt. What you're going to do now is request a debt validation. A debt validation is a list of documents that they have to legally provide and have on file that have all your legal information correct, all your debt history correct, and all documents preceding your debt history. And if they're missing or have any of that information incorrect, I'm talking having your birthday off by one day, you're going to dispute it, and they're going to have to send you a letter saying that this debt is now invalid.

25:35 Then you're going to take that letter, send it to the credit bureau, and they're going to remove it and make it like it never even existed to begin with. You're welcome, and you better [ __ ] follow me. Uh, okay. Um, I'll be honest. I don't know if that verifying identity thing is is real or not, whether that resets your your statute of limitations timer, whatever. Uh but to be clear, uh even if a debt collector has been has paid for your debt, which is a real thing that happens, that doesn't mean you are now legally not obligated to pay that person, you still are in debt to that entity, right? Doesn't matter that it's changed hands. And a debt collector can still take you to court or petition for you to be declared bankrupt if this happens. I I don't think that would happen with a a small fee like $2,000, uh given that the legal fees and the like would likely not make it worth it.

26:24 But you still have that that exposure, that liability in your name. And I wouldn't bank on a typo to to get you out of it. And if courts do intervene, they have tools like garnishing your wages, for example. So any money you earned uh gets directly transferred, some portion of it to your creditor. So you can't just ignore your debts and assume that, you know, it'll be forgiven if you if you thug it out as as stated here. Especially because the whole time that this is outstanding, that means you can't get a mortgage on a new home. You can't get credit card debt. uh and as long as this is outstanding, you haven't started healing your credit score so that you can then use debt in the future. So even if you aren't taken to court, even if this does eventually get forgiven, that's a lot. That's a big cost you've taken and a long period of time that you've gone restricting yourself from that sort of financial

27:08 access. Whenever you're in a situation like this, don't take TikTok advice uh because it might have unintended consequences that aren't covered in this video. Definitely reach out to a professional. In the US, there are certified credit counselors. In Canada, we have licensed insolveny trustees. They can advise you on your options, including things like declaring bankruptcy, which have a lot of personal protections in place or a consumer proposal where you negotiate for a better payment plan. But importantly, when you take these types of actions of, you know, refusing to take phone calls or refusing to negotiate, that actually reduces your likelihood of getting a favorable ruling or treatment by the courts. So, don't take advice from TikTok. A lot of risk of of unintended consequences with these approaches.

27:47 Definitely speak to a professional if you find yourself in this type of situation. Is day trading gambling? Overall, the answer is yes. A lot of day trading ones today. I don't know why. That's just what just what was found. But the best way I could describe it is gambling, but the odds are in your favor. When you enter a trade, it either goes up or down 50/50, which is basically a coin flip. But hypothetically, if you could guess that coin flip and make $1,000, and you watched that person flip the coin for three years straight, where they placed it on their thumb, how hard they were flipping it, what it looked like in the air, do you think after 3 years of watching every single thing happen and journaling all of it, do you think you could guess it more than 50/50? If you do think you could, that's what trading is right there.

28:40 Come on. Big money. Big money. Damn. Absolutely devastating. Well, everyone, that was the 10th investment analyst reacts to investing Tik Toks. I hope you found it helpful. Hope we learned a little bit of something. If you liked it, please make sure to like, subscribe, all that good stuff. It does help the channel tremendously. Let me know your thoughts on your favorite Tik Tok, your favorite uh tips and wisdom that we garnered here today, and any other uh content you'd like me to react to. If there's a movie or uh piece of media that you'd like to have my input on, uh then let me know down below, and I'll do my best to to get to the popular ideas. Uh, but thank you again for joining me once again.

Questions about this episode

What is discussed in "Investment Analyst Reacts to Finance TikToks - Bonus Edition"?

In order: 0:00 Richard Coffin, Strategy, Strife, Costco; 5:00 Strategy, Black Rock; 10:00 Strategy; 15:00 Black Rock, Strategy; 20:00 Strategy.

What is mentioned in this The Plain Bagel episode?

10 people, works and ideas are mentioned, including Strategy, Richard Coffin, Strife, Black Rock, Google LLC, Costco. Each one on this page links to its own page with every episode that mentions it.

How long is "Investment Analyst Reacts to Finance TikToks - Bonus Edition"?

The episode runs 29 min; the transcript is about 6,251 words in 43 timestamped sections.

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