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  1. #14401
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    Nov 2002
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    Quote Originally Posted by VTeton View Post
    Bob could probably work a min wage job 4-5 hrs per day and invest in ETFs and have a way better return.

    Sent from my SM-G998U1 using Tapatalk
    Can I do this job from home in my armchair while watching a basketball game?

  2. #14402
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    Jun 2009
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    Quote Originally Posted by NWFlow View Post
    Hopefully Nokia. GFs family is in Oulu so i'm invested by default.
    Ha! I'm in for some NOK today. That's a must add considering both 5G and the short squeeze situation. This market is unreal -- the Exxon I bought 1 week ago is already up +4.12%
    OH, MY GAWD! ―John Hillerman  Big Billie Eilish fan.
    But that's a quibble to what PG posted (at first, anyway, I haven't read his latest book) ―jono
    we are not arguing about ski boots or fashionable clothing or spageheti O's which mean nothing in the grand scheme ― XXX-er

  3. #14403
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    Dec 2008
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    821
    I'm in mostly for the meme fun as well

  4. #14404
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    Mar 2006
    Posts
    19,814
    Quarterly Expiration tomorrow and Friday. Potential for some action especially if rates continue to spike.

  5. #14405
    Join Date
    Nov 2002
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    Quote Originally Posted by puregravity View Post
    Bob. If you are holding aside capital gains TAX amounts owing for 2022 already determined in 2021, do you put it in a bank savings account, GIC, bonds, or do you go all in on gamestonks? Please share.

    Also. Suppose that the markets go through a 3 month to 5 month retrace and/or bearish consolidation, do you have a strategy to take advantage of that and what can other active investors do to take advantage of that without resorting to options and/or shorting?
    I wasn’t going to reply but I’ve had a couple glasses of wine tonight. I’m pretty sure I’ve mentioned that I’ve been working poor my entire life and the life’s of my kinfolk. At my tax rate I don’t pay anything on long positions. I’ve also mentioned that I rarely sell anything, the only income subject to taxes (which in my bracket is low) is dividends and cash made from options.

    I don’t really have to worry about a several month fall back because I’m looking at a 10 year timeline. I’ve also mentioned that as a poor person my entire life I don’t really give a fuck if I lose all of this. I can deal with being poor, I’m used to it. I’m frugal and well accustomed to it. I drive 10+ year old vehicles, I’ve been in my house for over 23 years, it’s almost paid off. We go on vacation every couple of years, we camp a few times a year in a trailer that is paid off towed by a truck that is paid off. This stock thing is something I stumbled back into and I’m rolling with it.

    The difference between you and I is that I’ll fully admit it, I’m an idiot, I’m flying blindfolded in all this shit figuring it out as I go along. I know there are ways I could lessen my tax liabilities, I’ll figure it all out eventually.

    You on the other hand can’t quite comprehend that you’re an idiot. I’m guessing everyone else can see it, but you seem oblivious to the fact. You spout off these questions to me in some kinda gotcha thing, when I’ve already given you the answers in this thread that I know you’ve been reading. Comprehension, dude, comprehension. See, I kinda pay attention when I’m reading this board, I’ve known before this thread you were an idiot because I could read into your thought processes from your other posts.

    From one idiot to another it’ll make your life easier if you can recognize your soft spots. Good luck.

  6. #14406
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    Jul 2005
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    Moose, Iowa
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    7,926
    Lol...dropping some vintage wine wisdom.

    I'd let that guy fix my car for sure.

    Sent from my SM-G981U using Tapatalk

  7. #14407
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    Feb 2005
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    North Vancouver/Whistler
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    Bob - I "forgive" you for quoting PG and exposing me to his insane mindless babbling, as that was rather classic

  8. #14408
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    Mar 2006
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    19,814
    Bob, you’re a genius because you’ve made the game simple and aren’t afraid to take a loss.

  9. #14409
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    Jun 2009
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    Quote Originally Posted by BobMc View Post
    I wasn’t going to reply but I’ve had a couple glasses of wine tonight. I’m pretty sure I’ve mentioned that I’ve been working poor my entire life and the life’s of my kinfolk. At my tax rate I don’t pay anything on long positions. I’ve also mentioned that I rarely sell anything, the only income subject to taxes (which in my bracket is low) is dividends and cash made from options.

    I don’t really have to worry about a several month fall back because I’m looking at a 10 year timeline. I’ve also mentioned that as a poor person my entire life I don’t really give a fuck if I lose all of this. I can deal with being poor, I’m used to it. I’m frugal and well accustomed to it. I drive 10+ year old vehicles, I’ve been in my house for over 23 years, it’s almost paid off. We go on vacation every couple of years, we camp a few times a year in a trailer that is paid off towed by a truck that is paid off. This stock thing is something I stumbled back into and I’m rolling with it.

    The difference between you and I is that I’ll fully admit it, I’m an idiot, I’m flying blindfolded in all this shit figuring it out as I go along. I know there are ways I could lessen my tax liabilities, I’ll figure it all out eventually.

    You on the other hand can’t quite comprehend that you’re an idiot. I’m guessing everyone else can see it, but you seem oblivious to the fact. You spout off these questions to me in some kinda gotcha thing, when I’ve already given you the answers in this thread that I know you’ve been reading. Comprehension, dude, comprehension. See, I kinda pay attention when I’m reading this board, I’ve known before this thread you were an idiot because I could read into your thought processes from your other posts.

    From one idiot to another it’ll make your life easier if you can recognize your soft spots. Good luck.
    Thanks Bob. Wow. Great story!

    Re: "some kinda gotcha thing"
    Not at all. They are legit questions. We are just 2 beggars trying to help each other. The questions can be answered by anyone though. You came highly recommended. I don't think you are god but I'm curious what you and others think. I'm open to anything anyone here has to say about those questions. I live a frugal life just like you.

    Those were exploratory questions. Nothing "gotcha" about them. Sorry for not being more aware of your background and situation. I just assumed from other people's assessment that replying to you (and others) with those questions would get the best response.

    I think the question still stands. I guess for everyone. This will be a year of banner results for everyone (I hope!). Many people here will be in the money after this rush and wondering what to do till taxes are due next March/April.

    #1 If you are holding aside capital gains TAX amounts owing for 2022 already determined in 2021, do you put it in a bank savings account, GIC, bonds, or do you go all in on gamestonks?

    #2 Suppose that the markets go through a 3 month to 5 month retrace and/or bearish consolidation, do you have a strategy to take advantage of that and what can other active investors do to take advantage of that without resorting to options and/or shorting?

    Just curious how other people are handling this situation. I know it sounds crazy to ask something like this here ... but I'm not crazy
    OH, MY GAWD! ―John Hillerman  Big Billie Eilish fan.
    But that's a quibble to what PG posted (at first, anyway, I haven't read his latest book) ―jono
    we are not arguing about ski boots or fashionable clothing or spageheti O's which mean nothing in the grand scheme ― XXX-er

  10. #14410
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    Jun 2009
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    Matchbox 20
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    Perhaps those questions aren't the best for a forum like this but I thought I'd try to draw on the collective wisdom here.
    OH, MY GAWD! ―John Hillerman  Big Billie Eilish fan.
    But that's a quibble to what PG posted (at first, anyway, I haven't read his latest book) ―jono
    we are not arguing about ski boots or fashionable clothing or spageheti O's which mean nothing in the grand scheme ― XXX-er

  11. #14411
    Join Date
    Mar 2008
    Location
    the ham
    Posts
    13,370
    I'll answer your question #1. If you have realized cap gains in the first half of 2021, and you're required to pay quarterly installments, pay the estimated tax before June 15 (doesn't matter which country you owe to).

    For the third quarter, pay by Sept 15 (30th in Canada), and fourth quarter Jan 18 for USA, and Dec 31 for Canada.

    If you're not required to pay by installment, do whatever you can afford.

  12. #14412
    Join Date
    Nov 2002
    Location
    Cloud City
    Posts
    8,771
    I bought more COIN yesterday at $226. Still averaging down. I admit it's challenging to dig this hole ever deeper. Next time I'll be more patient on my initial entry (I hope). So funny how they listed exaaaaaactly at the top of btc price run. I thought to myself if Cathie is buying, I can buy too!

    Bring on the salt.
    Live each season as it passes; breathe the air, drink the drink, taste the fruit, and resign yourself to the influences of each.
    Henry David Thoreau

  13. #14413
    Join Date
    Mar 2005
    Location
    SE USA
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    3,421
    Quote Originally Posted by BobMc View Post
    I drive 10+ year old vehicles, I’ve been in my house for over 23 years, it’s almost paid off. We go on vacation every couple of years, we camp a few times a year in a trailer that is paid off towed by a truck that is paid off.
    "The man is richest who's pleasures are the cheapest."

    there is a fuckin truckload of wisdom and common sense in these two words.

    "paid off."
    "Can't you see..."

  14. #14414
    Join Date
    Dec 2010
    Posts
    3,896
    Quote Originally Posted by BobMc View Post
    I don’t really give a fuck if I lose all of this. I can deal with being poor, I’m used to it. I’m frugal and well accustomed to it. I drive 10+ year old vehicles, I’ve been in my house for over 23 years, it’s almost paid off. We go on vacation every couple of years, we camp a few times a year in a trailer that is paid off towed by a truck that is paid off.
    Honestly, this is a pretty good way to look at life IMO. Whether you are actually earning little money or not. How i was raised, how i continue to live, and how i plan to raise my kids. You can live a damn good life without spending a lot of money- to a large extent its true that money doesnt buy happiness, the main thing lots of money does buy is a safety net that can ease a lot of stress. But, a $100 camping trip is most likely going to be just as much fun as a $3k vacation to Florida for your kids, and my 17yr old 4runner is gonna get my family to that campsite as good or better than that new 2021 TRD Pro... plus i wont care about pinstripping the shit out of it on the way in.


    I have had my YOLO account for the past 15 months and have learned lots about the market. My big takeaway is that im not smarter than the market and im not going to appreciably beat it except out of pure luck. I finally feel fairly comfortable dropping a large nestegg ive had in savings into a retirement account ill manage myself. I could go the general ETF route with the stock portion (yes ill have my age percentage in bonds), or i could focus on dividend stocks. Im kinda leaning toward dividend, but that would take more work to diversify properly and i just have it in my head that i need fairly large sums invested in each dividend stock to make it worth it. What are folks thoughts on dividend investing for a long term retirement account vs just chucking it in some diversified ETFs and only looking at it to rebalance every 3-6 months? I also have a fully funded (and matched) 401k with my employer as my main retirement vehicle.

  15. #14415
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    Feb 2005
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    North Vancouver/Whistler
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    Quote Originally Posted by californiagrown View Post
    Im kinda leaning toward dividend, but that would take more work to diversify properly and i just have it in my head that i need fairly large sums invested in each dividend stock to make it worth it. What are folks thoughts on dividend investing for a long term retirement account vs just chucking it in some diversified ETFs and only looking at it to rebalance every 3-6 months? I also have a fully funded (and matched) 401k with my employer as my main retirement vehicle.
    Canadian tax has a large dividend tax-free break which is why I targeted dividends + covered calls for long term retirement. Canada also allowed parking the selected stocks in tax-free/tax-deferred accounts. Hence the planning was largely tax-driven. Therefore your situation may be different.

    Having said that, it's a good strategy to explore if you're predisposed to doing your homework and if your timeframe is long term.

  16. #14416
    Join Date
    Mar 2006
    Posts
    19,814
    Two % swing on QQQ/DIA

  17. #14417
    Join Date
    Dec 2003
    Location
    Teton County
    Posts
    438
    One strategy is to offset your gains with losses. If you're underwater on a position or even just some shares in a position, and you want to maintain the number of shares you own, you can buy the number you want to offset today. Then you hold them for 31 days, sell the higher priced shares for a loss and that loss offsets some of your gains. You then have another 31 days where you can't add to your position. If you do, it's considered a wash sale and the whole strategy falls apart.

    Other bad stuff can happen as well, so only do this if you are long on a position and nothing would cause you to reduce your position in the short term.

    Takes time and some capital to do this, so good to start now instead of at the end of the year.

    I'm also not a financial person, so don't take advice from me or any other random people on the intertubes.

    Sent from my Pixel 4 XL using Tapatalk

  18. #14418
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    Jun 2009
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    Matchbox 20
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    Quote Originally Posted by Ow_My_Balls View Post
    Sounds like you are negative on shorting/options? I'm curious what other strategy could be used, besides selling and waiting. Which is really a just roundabout way of shorting anyway. And most people are really, really bad at market timing.
    PM Bob. If you get him after a few glasses it is priceless!

    I hope more people chime in on this. Call it 'things to consider' or 'best practices' or 'better than sitting on your ass'. It all amounts to crying about the catch-22 of owing taxes early. Damned if you sit on them in useless accounts/gics/bonds ... and dangerous to gamble them in investments that might go down. There would be a capital loss from investing the tax owing but it won't offset the tax owing amount 1:1. I'm a cheap ass and I don't want to call a financial advisor ...
    OH, MY GAWD! ―John Hillerman  Big Billie Eilish fan.
    But that's a quibble to what PG posted (at first, anyway, I haven't read his latest book) ―jono
    we are not arguing about ski boots or fashionable clothing or spageheti O's which mean nothing in the grand scheme ― XXX-er

  19. #14419
    Join Date
    Nov 2008
    Location
    Edge of the Great Basin
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    5,539
    Why pay taxes at all? Of course you'll eventually have to pay but that's the advantage of funds, ETFs, or buying compounders. Since you're asking... I think it was a mistake to sell GOOG and then ask about festival stocks when something like 10% of Alphabet's revenue comes from travel related advertising. In other words, it's the same bet but with GOOG there's still an enormous revenue stream to fall back on no matter what. Sometimes, to own a great company, you have to pay a fair price.

    While I admire all the traders in this thread, I also think it's a little nuts. It's much better than gambling but not as good investing in companies that compound for years (like Alphabet, Amazon, Costco, etc.). Stocks always follow earnings.

    The fundamental truth is we benefit by deferring gratification and prioritizing long-term outcomes. But it’s not enough to understand this concept intellectually. Equally important, is building an internally consistent mindset and lifestyle that supports such behavior.

  20. #14420
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    Dec 2020
    Location
    Idaho
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    1,725
    Quote Originally Posted by MultiVerse View Post
    Why pay taxes at all? Of course you'll eventually have to pay but that's the advantage of funds, ETFs, or buying compounders. Since you're asking... I think it was mistake to sell GOOG and then ask about festival stocks when something like 10% of Alphabet's revenue comes from travel related advertising. In other words, it's the same bet but with GOOG there's still an enormous revenue stream to fall back on no matter what.

    While I admire all the traders in this thread, I also think it's a little nuts. It's much better than gambling but not as good investing in companies that compound for years (like Alphabet, Amazon, Costco, etc.).

    The fundamental truth is we benefit by deferring gratification and prioritizing long-term outcomes. But it’s not enough to understand this concept intellectually. Equally important, is building an internally consistent mindset and lifestyle that supports such behavior.

    I don't think it's nuts to have an account where you play around w a few dollars. If you're interested in stocks, have some technical trading knowledge, and ENJOY it, similar to any other pass time, have had it. Me personally I'm a buyer and holder so I have no desire to apply the effort that changes the activity from gambling to investing.

  21. #14421
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    Jun 2009
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    "I've been living in the desert on crackers and rations of water for all my life. So what if I'm hanging under a date tree at an oasis surrounded by hundreds of concubines. If I have to go back to the desert and crackers ... it's all good. No biggie."
    -- Moses.

    That should have been my response to Bob. Too late now but good for a chuckle.
    OH, MY GAWD! ―John Hillerman  Big Billie Eilish fan.
    But that's a quibble to what PG posted (at first, anyway, I haven't read his latest book) ―jono
    we are not arguing about ski boots or fashionable clothing or spageheti O's which mean nothing in the grand scheme ― XXX-er

  22. #14422
    Join Date
    Nov 2002
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    Behind the Zion Curtain
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    4,875
    Energy down across the sector today, I got whacked pretty hard. I ain’t selling so it doesn’t really matter. On the bright side my order for 38 more shares of EPD went through. My options all gained value today on the slump. I was real close to buying back my CLB call for $80, diamond hands! Heh.

    California, that’s what I’ve been working towards, good dividend stocks will compound quickly. I’ve been buying a lot of midstream because of the yields, you have to file an extra tax form (k-1), but it’s not a huge deal. These are looked at as you are a partner in the business. The company sends you a statement at the beginning of the year and you fill out the form to submit with your taxes. The 38 shares of EPD I picked up today boosted my monthly dividend payout by $5.70, to $207.72/month. At the current price that gives me an extra 3.87 shares every quarter. I’ve been basing most all of my recent buys on yield, buy good companies with a history of raising dividends,

    Lawless, thanks for the tip. I’d been wondering about how the selling worked, I have several positions that are a mixture of long and short. I haven’t sold any position that I didn’t buy all at once nor sell all at once. If I’m assigned on a covered call will TDameritrade prompt me to choose which shares are sold?

  23. #14423
    Join Date
    Jan 2008
    Posts
    10,103
    Quote Originally Posted by BobMc View Post


    Lawless, thanks for the tip. I’d been wondering about how the selling worked, I have several positions that are a mixture of long and short. I haven’t sold any position that I didn’t buy all at once nor sell all at once. If I’m assigned on a covered call will TDameritrade prompt me to choose which shares are sold?
    Default is usually FIFO but you may be able to switch that either at trade or before settlement to something else. Not sure what TD’s policy is.

  24. #14424
    Join Date
    Jan 2009
    Posts
    2,528
    Can someone explain why this skyrocketing Reverse Repo thing is going to cause the implosion of the financial scene as we know it? Cause that's kinda what I'm reading here and there.

  25. #14425
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    Quote Originally Posted by paulster2626 View Post
    Can someone explain why this skyrocketing Reverse Repo thing is going to cause the implosion of the financial scene as we know it? Cause that's kinda what I'm reading here and there.
    Removing liquidity. Posted a snippet about that a few pages back. No one commented. Glad your here at the party.
    Nothing will implode. Just shows that the fed recognizes that a well functioning finance economy doesn't need oodles of extra cash floating around. Could signal higher interest rates if (1) banks need to borrow and (2) the fed increases rates. But #1 banks might not have those borrowing needs and #2 they can also borrow from other banks. Without further analysis it is just *notable*. No one expected the fed to get it PERFECT when they did QE for COVID. Everything required ongoing adjustments. Just a hunch from an idiot. Uneducated guess. Waiting for the experts to chime in.
    OH, MY GAWD! ―John Hillerman  Big Billie Eilish fan.
    But that's a quibble to what PG posted (at first, anyway, I haven't read his latest book) ―jono
    we are not arguing about ski boots or fashionable clothing or spageheti O's which mean nothing in the grand scheme ― XXX-er

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