Hacker News: cheinic6493

New comment by cheinic6493 in "OpenAI Is Preparing to File for an IPO Soon"

cheinic6493 — Thu, 21 May 2026 11:51:17 +0000

> Even Warren Buffet only makes 19% - 20% compounded every year. That would make you one of the top investors ever.

Not really.

Plenty of hedge funds and HFT firms make 40-100% each year (before fees) over 30-40 years…

Citadel’s “stock picking ability” is 40% annual returns since 1999

They just don’t advertise this because it’ll make retail traders and passive ETF investors really sad

New comment by cheinic6493 in "OpenAI Is Preparing to File for an IPO Soon"

cheinic6493 — Thu, 21 May 2026 08:32:46 +0000

> It’s a thing but your order execution won’t be as efficient as an ETF, so you will be losing a non-negligible amount each year in slippage from the large number of small transactions

Not necessarily

ETF managers execute block trades outside the normal market, sometimes through dark pools, not even reported to the public.

Fidelity, Vanguard, etc ask JPMorgan, Goldman to execute these block trades and pay them a fee. This fee can exceed the “slippage” a retail investor can face.

New comment by cheinic6493 in "Intuit to lay off over 3k employees to refocus on AI"

cheinic6493 — Thu, 21 May 2026 07:39:54 +0000

> I have a more complicated return than most, but not everyone, and it handles it all (multi-state, capital gains/losses and rollovers, depreciations, etc)

Most people have W-2/1099 and some real estate deductions. Not hard to beat that in complexity.

Try AMT, controlled foreign corporations, nested K-1s, and 1040X prior year amendments with $100k-$1 million+ pending refunds.