I sold off a lot of stocks. An additional 50% of my blue chips. Here’s why I did that.
Hey what’s going on you guys welcome back to the channel so i’m shooting a very very impromptu video here i didn’t really plan on making one but i made some pretty major updates to my m1 finance dividend stock portfolio and i wanted to update you guys about that um also i am babysitting my brother’s new cat here so uh he may show up in the scene or whatever but uh
Yeah super laid-back video here guys but i kind of wanted to update you on uh some major changes that i made to my overall portfolio so first of all just a few quick disclaimers uh this is not a this is not financial advice i am not any kind of financial advisor and then you should always do your own due diligence above and beyond this video before making any you
Know purchase or selling decisions in the stock market also there’s been a rampant problem with uh spam comments and um comments that are just basically a total scam on my channel and a couple of channels have actually had uh some videos get demonetized out of nowhere we’re kind of trying to figure out where that’s coming from but we think it might have something
To do with the spam comments so unfortunately for the time being out of the abundance of caution for my channel i have disabled comments or not disabled them but they’re all held for review basically so if you leave a comment um my va is going to approve them manually and negative or positive is fine but if you’re promoting a scam or hate speech basically things
Like that that are just purely negative or malicious that will not be allowed but i just want to be fully transparent with you guys in case you noticed that you commented and it didn’t show up and i did put a post on this on my community tab earlier for more information so anyways guys into my portfolio here obviously in my last video this portfolio was quite a bit
Larger and i had 50 grand in bonds now you look at it and it’s half of its value and i put 50 grand in a penny stock so what the hell is going on ryan it’s probably what you’re wondering so first of all on to the discussion of the 50k in bonds so initially i had taken that off the table uh of my portfolio to put that on ice in case i needed that money towards this
Legal action against uh the sellers of this house i bought in florida but then i ended up getting a couple of really good sponsorship deals on my pipeline and some other stuff with my different business ventures so at that point as i was doing further and further research on this company genius brands i decided i wanted to have more exposure to it so i decided to
Take that 50k sitting there in bonds and rotate that over into genius brand stock well as fate would have it uh very shortly thereafter i ran into some hiccups with one of these sponsorship deals with one of my businesses and all of a sudden i was like oh crap wait a minute you know now i’m in a little bit of a sticky situation here cash-wise now i know what
You’re gonna say i should listen to my own advice and i absolutely agree with you guys i have to build up my emergency fund and i have been taking a little bit more risk here than i usually do but overall you know i’m doing fine and essentially what i did is i trimmed off a bit of this portfolio to basically pay back some debt and uh to also basically um i did
Take the bonds and switch that over to genius brands so basically guys what i ended up doing here is i took that 50k in bonds and rotate it over to genius brands and then i took basically a hundred grand off in the reason i did that guys a couple of things number one if you look at the s p 500 you know we’re basically back to the top of the market i mean i’m
Not saying i expect a crash i don’t know but like you can’t really fault somebody for selling at the top of the market the stocks have never ever really been more expensive than they are right now that’s what this is showing us so i’m selling most of i sold most of these stocks at just record high prices i’m not saying i think they’re going to go down but again
Nobody ever got hurt by taking a profit is basically what i’m saying now what i did with that money with the majority of it seventy thousand dollars i simply paid off my m1 borrow so what i do with m1 finance here is i get a portfolio line of credit it’s because i have m1 plus two percent interest and i was borrowing against my portfolio and i used that money to
Pay off my car loan then i’m sitting here thinking okay we’re at like the top of the market why don’t i just trim back the portfolio a bit knock that out and free up that line of credit in the future so basically what i did is of that hundred grand i took off the market i put 70 grand uh towards that and my m1 borrow i’ll show you now is down to zero dollars and
That opened up basically a thirty three thousand dollar two percent credit line uh in case i need it in the future so for me that was just a really logical move because i trimmed off some debt uh my car’s paid off obviously and then now i have a 33 000 low interest credit line in case i run into any more you know hiccups or unforeseen circumstances in the future
So that’s the gist of what happened there guys i know it seems like a crazy move but a lot of times i i make these leaps and i jump to uh i contradict myself sometimes with my actions but overall guys you know this is where i think there’s going to be where i see potential for gains in the stock market but again keep in mind i am not a typical average retail
Investor i have a lot more risk tolerance and you should not put you know 50 000 into a penny stock or anything like that that’s probably crazy guys i’m not going to talk about genius brands really in this video i will show you the chart but i just did a full like one hour long video about why i put a hundred thousand dollars into that stock and i also did like a
Six thousand word right up on it which i’ll put in the description below so first of all guys real quick let’s just cover what the heck’s going on with this portfolio if we jump over to the holdings so the biggest holding here is now genius brands i’m down about around three percent in this portfolio since i bought it after that we have dave and busters which as
I don’t understand honestly why the stock has moved lower they had blowout earnings they were expected to have negative eps they posted positive eps and yet the stock sold off i’m not sure really guys with this one i think this stock will do well in the long run but obviously you know i was a bit too eager when i bought those shares other than that i pretty much
Trimmed almost every position here down to somewhere around three thousand dollars i’m not going to go through each one but you can still see how i a lot of these stocks i just had massive gains in that i was selling off i mean look at this for example lowe’s 173 percent return on lows 63 on bank of america 55 genuine parts company 112 percent on emerson electric
So by no means i’m selling things i bought like during the pandemic in some cases for more than double what i paid for them back in you know march of 2020. also guys real quick if you are interested in learning more about m1 finance or investing i have a completely free 30-minute video training down in the description below as well as an affiliate link for m1
Finance and i may earn a commission if you do decide to use that link so overall guys that’s my explanation uh stock market i don’t know just look at this yourself what do you guys think i don’t know i’m gonna leave you with that one moving on here guys uh here we are looking at genius brands the full article write-up that i did here i literally spent about 12
Hours on this article and i’ve been researching genius brands for three months now uh so honestly guys if you’re curious about it i put 100 grand in this penny stock i’ll put that article down in the description below but it is a quite lengthy read here somewhere around the neighborhood of 6 000 words and then i also have a full video it’s an hour long and again
I i don’t i’m not i’m sharing this just if you want to learn more about the stock and it’s funny because if you watch the video i’m basically telling people hey you probably don’t want to buy this is it speculative but anyway just for further awareness if you’re curious why i put a hundred thousand dollars into this penny stock so overall guys another thing that
I wanted to just make you aware of um a lot of people are asking about amc et cetera yes i do own some shares of amc i talk a lot about that on my instagram and so i i am holding on to those shares but a lot of people wondering like hey what has why has there been no movement in the market like what’s going on here i found a very helpful video here guys on ftds
Not gonna get into it i’m just gonna point you towards that direction it’s very complicated and this guy explained it very well if you’re curious what the heck is going on or if you purchase genius and then it moved lower it sort of ties into this in my opinion okay now again this is merely speculation from a random guy on the internet but i just wanted to point
You guys in the right direction uh real quick guys too i want to show you the overall chart on genius so i made a video about buying it somewhere back in this territory here and we did yeah we sold off and breached the 200-day sma but since then it’s been a pretty good snap upwards a crazy day yesterday and then we moved up again today so you know we’ll see what
Happens tomorrow but what’s exciting for me is if you open it up to the weekly chart uh you know there’s a really really nice setup here in terms of a pennant forming and just overall consolidation and i i like the chart i like the stock that’s what i mean that’s about all i got to say there so that’s why i’m in on this trade but literally guys it has almost nothing
To do with the chart i like it on a fundamental basis and it’s a long-term investment for me i’m going to hold these shares for many many years as long as the company’s not acquired but that is my overall plan there so anyways guys there’s my update i hope you enjoyed it uh definitely if you want to check out that video on genius brands or that article it’s going
To be down in the description below and like i said if you want to check out m1 finance or that free training that’s going to be down below as well but thanks so much for watching guys and i will see you in the next video
Transcribed from video
Why I'm Selling Stocks Now By Ryan Scribner