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YOLO. Used a 9k balance transfer offer to buy 1,750 shares of AMD. Was this smart?
Hello all. Recently got approved for a credit card with a 9.5k balance and a 21 month 0% interest balance transfer offer. Sent $9,000 balance transfer to my own bank account rather than another credit card, paid $287 in balance transfer fees. Then used said balance transfer to buy 1,750 shares of amd @ 7.45 for $13,037.50 (used some margin) leaving myself with $68.75 left in my life savings account, but 21 months to pay off the balance transfer interest free. Was this plan foolproof? Can I lose? Stay tuned what will happen next. Please comment on whether this was a good idea or not ty in advance.
Proof: http://i.imgur.com/G8Ov6tZ.png
edit: Futher proof cause if someone calls BS: http://i.imgur.com/kpXCUmw.png
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You use a credit card to buy stocks, a credit card that will have nearly 20% interest, in hopes you make over 20% for it to be worth it in under 21 months?
Balls.
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Cash advance is usually a tad bit higher than the normal interest rate for credit card charges. Usually by like 2-5 percent
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>buying AMD at the highest in 4 years
Start looking for a job to pay for the debt.
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Which subreddit did you copy this from?
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>>1505158
Hm... catching a falling knife with a credit card? I don't see what could possibly go wrong.
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>>1505158
Ya played yourself OP
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>>1505216
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Damn dude
I started trading yesterday and I've got to say that sounds absolutely fucktarded.
Explain to me how AMD could possibly do well, especially with it being overvalued as it is
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>>1505158
save yourself the pain and just kill yourself. you are going to have a negative net worth guaranteed in the next month.
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>>1505158
Fuck off reddit
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>>1505158
https://www.etrade.wallst.com/v1/stocks/fundamentals/balancesheet.asp?period=A?symbol=amd
so,
assets: declining
liabs: flat
revenue: declining
op income: negative and declining
cash: negative and declining
cash investment: growing ($147 mm, whoop-de-doo)
current ratio: 1.6, not bad, not good.
https://biz.yahoo.com/e/160914/amd8-k.html
diluted stock by offering 100 Million shares.
They're basically an acquisition at this point, but I doubt SEC would allow it.
stochastics are perfect, but the company has little to offer and needs something major to turnaround, such as another market.
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>>1505158
>1 post by this ID
move along people, nothing to see here
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>>1505158
you just copied this shit from wallstreetbets friendo
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I got 30 k from the bank at 3.7% for a rrsp which will get me an instant tax refund of 12 k is that smart ?
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>>1505162
>interest free
Basically he needs to cover the balance transfer. Pretty dumb but anything can happen in two years. Should have just went to the casino
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>>1505197
Wallstreetbets.
Its like /biz/, but with more autism.
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Why didn't you go for galxf ?
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>>1505162
lol!
I pay only 8% p.a for for my credit (standard)
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