It is just stupid. It is one thing to do this to a person actively managing a business and therefore having a say in CapEx and development which can lead to jobs. To expect passive minority equity investors to abide by the same rules is ridiculous. Mind you, even investors in ETFs and mutual funds would be subjected to these LT Cap Gains rules.
Sure, but you have to wait 30 days to repurchase. So i guess you are betting that oil will be lower 30 days from now. I dont know the answer to that.
And what she is proposing affects all investors, not just investors that are in high tax brackets correct?
I haven't read the full details of the plan and won't bother because for it to matter 1) She would need to get elected 2) She would actually need to try to pass it rather than just using it as a talking point to seem tough on the 1% to the populist wing of her party which is what I suspect she is doing 3) she would need Democratic control of house & senate.
cut that shit loose - people who tell themselves "well I'm gonna sell if it does this" or "I'm going to sell if it does that" rarely stick to their guns and form poor habits that contribute to losing money
CKEC earnings today. Have no idea what their future guidance will be but I'll alllllllllmost guarantee an earnings beat for this quarter. Do with that what you will. I'd say 76% chance the stock gets a pop after hours today. I bought last week at 26.55 Disclaimer: I've called earnings beats in the past and still seen the stock drop on the report, so do your research.
Ouch, ugly start to the week. Portfolio was up about 13% on the year on Friday. Up just under 10% as of this morning. Everything down at least 1%, some nearly at -5%
If I had put all of my money in Facebook when I bought at $25 I think I would be able to buy our island :(
CKEC missed earnings. Admissions were up like 18% and concessions up over 23% as expected but their exhibition costs were also up which cancelled it all out. I'll take my timeout now.
This isn't about investing, but just a general question. Does anybody have a logical reason why all articles about budgeting, what you can afford, etc etc always seem to talk in percentages of GROSS monthly income? Why gross? Who the hell cares what you make before taxes and deductions? That's money you don't see. Somebody making $5k per month with no debt or obligations is in a radically different spot than somebody making $5k with huge insurance premiums, big consumer debt and child support obligations. Yet people would have you believe they could afford the same thing. I feel like using that number leads lesser educated individuals down dumb paths because they think experts are telling them they can afford stuff. What am I missing?
i believe the #s are 20% net income consumer debt, 28% net income for housing cost, not to exceed 36% gross income for total debt ... but yeah not sure why gross is considered
my first thought is that all the things you listed like insurance premiums etc can be adjusted (you could sell your home or car) while your salary wont change by very much. I dont agree with it but maybe thats the explanation?
The article that made me think of this was one asking if a person making $32k can afford a $25k car (the answer should be hell no). They suggested the 20/4/10 rule, 20% down, 4 year term, 10% of gross monthly income. But that sounds ridiculous. Using a salary of $60k ($5k per month) they're claiming you could easily afford a $500 per month car payment. Add insurance and you're likely at $600, plus another $100-200 or so on gas. Before long, somebody bringing home probably under $3500 a month after taxes is spending $800 a month on a car. That leads to lots of ramen. 10% of NET seems much more reasonable if you want to make a generalized guideline.
You're probably correct and that is why they do it that way. Just seems like dangerous advice. Two people with radically different taxes and deductions should also have different budgets. I went to the bank looking for mortgage pre-approval the other day, and it's no wonder so many people got screwed in the housing crisis. I'm looking to buy a house in the $250K range and the lender said I'd be approved for more than $3k per month. That's insane. I'd be living in a McMansion and eating at the food bank 5x a week.
That's true, and I'm not saying it shouldn't be allowed, just saying it's not good advice for the masses. Besides, if we didn't allow it, in the long term I think it'd force automakers to make more affordable cars. Do most people nowadays require a car to have a normal life? Absolutely. Does that car need leather seats, a nav system, blind spot monitor, back up camera and 250hp? Not really. I'm going on a tangent now, but I believe that part of the reason many people feel so poor today compared to our grandparents era is lifestyle creep and what we consider "basic necessities".
Yeah, but think about all the furniture you would need for that house and what that would do for the economy. Take one for the team.
That's true. I need to go ahead and run up the balance on my credit card I guess. Wells Fargo was nice enough to increase my limit from its original $500 11 years ago to $22,000 now without me ever asking once. They're so thoughtful.
Lucky. I had to ask JPM and USBank to do that on my cards. It will actually help your credit score to have that much available credit (assuming you don't use it).
Unfortunately, I did use about half of it during my final year of college and immediately after. Took a while to pay off. That's what started me down this road of interest in investing and general finance.
I know there was some talk about fees on funds in your 401k in here a while back. What should be considered good/average/bad?
I never know how to answers this question, cause the only 'fees' I'm charged on are simply the expense ratios from the funds. Is there an actual line item on your statements that claim 'management' fee, or something to that extent?
The annual feeds are 'investment related fees' and 'recordkeeping add-on fees' Total Fees for the two funds I'm in currently are: Lifepath 2050 fund (some Blackrock fund) - .243% Large Cap Index (Blackrock Equity Ondex) - .152% I feel like that's low but wasn't sure.
Congrats! I'm about to go beg the Colorado Passport Agency to expedite my request for a passport to register for Level I of the CFA in December (since I had not had much interest in taking it up until recently, I didn't bother to look and see what was the accepted form of ID and didn't realize it was a f'ing passport until trying to register yd afternoon). I also have the CAIA coming up in September so it should be an interesting next couple of months...
Hmm, I'm looking at my statements to see if I'm missing something, but pretty sure I pay the expense ratio any other investor would and that's it ...
Seriously? A passport not drivers license? That's ridiculous. Good luck, I'm man enough to admit the CFA is way out of my league. Series 65 possibly next one up for me ...
CFA took Drivers license when I took it. Has that changed? I did have a friend get kicked out though because he had recently renewed his license so it was clipped and had papers but he didn't have the new one. What a shit show. It works for the cops but not for CFA Institute.
Seriously, a passport is the only form of ID they will accept. And they are so strict about it that if I were to use my old passport # (from the one I got when I was a teenager) to register and then show up with my new passport (and thus a new passport #) at the exam, not only would I not be allowed to take it, but I would also forfeit the $1275 in enrollment and registration fees. Luckily the place I went to today was very laid back (they did not even ask for proof that I was traveling) and extremely well run for a government office because I otherwise doubt that I would be going to pick up my new passport less than a week after submitting my application. The CFA might possibly be out of my league as well, but I have realized that I really do not have much of a choice as it is pretty much a membership card if one wants a job in investment management (especially if you graduated undergrad towards the end of or after the financial crisis and/or didn't attend a top tier school). The fact that I view a portion of the material as being of little use to me when it comes to actual investment analysis surely will not help my cause nor will the fact that I finally decided to take the exam (and thus start studying for it) four months before my test date. The only reason I still feel good about my odds (aside from being good at taking these kinds of tests) is pretty much because of my job - I basically did investment accounting/reporting for five years and spent part of that time plus a couple more years researching complex security valuations, corporate actions, and getting every day exposure to a lot of other material that amounts to over 50% of how the topics for the Level I exam are weighted.
I have read horror stories about people showing up and not being allowed to take the exam. Either it was stuff like what your friend went through (I read about a person whose passport was expired by all of 2 days and was still turned away) or shit like someone showing up after the lunch break only to be turned away because the proctor was a dick and closed the door as they were approaching the room. I think the worst was reading a post from some guy who said that his buddy showed up to a testing site in New Jersey only to have him (the friend who posted this) pointing out to his buddy that he was supposed to be at a testing site on the north side of New York City. I can't even begin to imagine the rage I would go into if I put hundreds of hours into studying for one of the exams and then had something like that happen to me. I would seriously lose my shit.
I had to take my series 79 and 63 in like a week apart not too long ago. 79 had plenty of time to study for and passed easily. Was at work til 4 the night before my 63. Came into the office a few hours later and found out (after calling to cancel my exam) that it wasn't til the next day. Made the lowest passing rate of 73% after studying that day. I was smug as hell... But I'd still rather take level 1 than take that 63 again. That stuff is so boring.
Disney stock took a hit after earnings, the reasons for which are fairly short sighted in my opinion. May be a good entry point.
Disney down and DDD finally hit an earnings report and is up 10%. i may sell DDD and buy Disney just for my health. DDD makes my hair fall out
It was a passport in ~2009 when I took it. They inspect that and inspect the shit out of your calculator (they take out the batteries, all that crap). Funny story, I took it with a guy a worked with who knew he wasn't going to pass. He showed up anyways but realized he forgot his calculator. They were suspicious as hell when they asked to inspect it and he told them he didn't have one. He filled in random answer bubbles in 15 minutes and went to the casino. They didn't let him back in for the afternoon session.
Used limit orders the ideal way for the first time today. I've used them before in the past but have never been accurate in calling the peak or valley. Today I set a limit sell for DDD at $14.50 and it executed just $0.10 shy of the daily high, it's now at $13.72. I then set a buy limit for DIS at $105 and bought in just slightly above the daily low, it's now at $108.57. This speaks nothing to what the stocks may do moving forward, I'm just happy to have finally had 2 limit orders work properly.