💾 Archived View for chesteryang.flounder.online › stockmarket.gmi captured on 2023-12-28 at 15:03:02. Gemini links have been rewritten to link to archived content
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I'm so sick and tired of this shit. I did my due diligence, saved up my annual bonus, and made calculated decisions to pick out the best stock for my growing portfolio. I decided on WP Carey ($WPC). They're a REIT with a variety of properties in North America and Western Europe. Their dividend is 7%+ and they just earned Dividend Aristocrat status. This is...or was...a high quality company with a solid history and recommended by pretty much every reputable stock recommendation site. This is a conservative position to take. So what happens? I decide to go hard and pick up about 150 shares at $64. This will be a nice little income stream. So what happens next?
WPC has about 15% of their portfolio in office real estate. It's making good money and has a high occupancy rating. Something like 98%. So management says "Yea, we're going to just sell that off and trim the fat. No hard feelings". The stock tanks 8% overnight, just hours after I went big. There was no warning, and this was not voted on. This wasn't even a wild or speculative play! One step forward, two steps back every time. I swear. The game is totally rigged and there's no way to win. Nothing is safe, not even a conservative company with a good reputation and a long history of dividend payouts. Awful and soul crushing. I basically worked this month for free. And I consider myself in a fortunate position to be making plays like this. I don't know how the average person just getting by doesn't make himself a lead sandwich. Life is a brutal slog and a pointless grind. I hate the stock market.