Official Investing Thread

Discussion in 'The Mainboard' started by Joe Louis, Jul 12, 2010.

  1. billdozer

    billdozer Well-Known Member
    Donor
    Clemson TigersCarolina Panthers

    Roth Individual Retirement Accounts let eligible taxpayers contribute to an after-tax savings account. However, not everyone is allowed to participate. If you're over the modified adjusted gross income limit for Roth IRAs, you're not allowed to contribute, so any money you put in your account is treated as an excess contribution.

    Excess Contribution Penalty
    You must pay an excess contribution penalty equal to 6 percent of the amount you contributed to your Roth IRA when you contribute even though you're not eligible. For example, if you contribute $5,000 when your contribution limit is zero, you've made an excess contribution of $5,000 and would owe a penalty of $300. You pay the penalty when you file your income tax return, and it counts as taxes you owe.

    Carrying Over
    The penalty for excess contributions continues every year that you don't correct the excess contribution. For example, if you contributed $5,000 too much last year, and you're still not eligible to contribute this year, you'll owe another $300 penalty when you file your income taxes. However, you can use your current year contribution limit to reduce or eliminate your excess contribution that carries over from a prior year. Suppose you contributed $5,000 last year when you made too much to contribute and paid the excess contributions penalty. If you're eligible this year, you can count that $5,000 toward your contribution limit so you won't owe the penalty again.

    Correcting Excess Contributions
    To avoid an early withdrawal penalty, you must withdraw the excess contribution before your tax return is due, including any extensions. In addition, you have to withdraw any earnings on the excess contribution. For example, if you contributed $5,000 too much, and that $5,000 grew to $5,500 by the time you corrected this distribution, you would also have to withdraw the $500 in earnings. If instead the $5,000 had declined to $4,600, you would only have to withdraw $4,600.

    Tax Treatment of Earnings
    If you withdraw earnings to correct your excess Roth IRA contribution, you must include them in your taxable income for the year. In addition, if you're not allowed to take a qualified distribution from your Roth IRA and don't qualify for an exception, you also must pay a 10 percent early withdrawal penalty. Exceptions include if you're over 59 1/2 years old, permanently disabled, have significant medical expenses or are paying higher education expenses.
     
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  2. Paddy Murphy

    Paddy Murphy Well-Known Member
    Atlanta BravesCarolina PanthersWofford TerriersUnited States Men's National Soccer TeamLiverpool

    I put ~12% of my allocated cash in long today to targets that I think have solid businesses that will recover quickest when this is in the rear view. Plan is to deploy similar ~12% at various points over the next month as I think we may not be through the worst of it, but that downside will be priced in as cases and deaths peak over next month. The stimulus will prop up the market this week but I think we see another 10-20% slide before the true bottom. Just trying to be in at various points around it. The focus of my allocations is on tech / cloud / e-commerce. I wanted to get into a few financials/transactions (V being one) but didn’t buy the open on them as most were up 10% at open. Will wait for a slightly lower entry point on those.

    My total allocation to this strategy is approximately 60% of my total available cash so keeping a 6 month cushion and some flexibility to hedge if things go through the floor (again) or to buy further at even lower points to dollar cost average.
     
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  3. BrickTamland

    BrickTamland You're not Ron...
    Donor
    Florida State Seminoles

    :ohholkyfuck:
     
  4. Fusiontegra

    Fusiontegra My life is dope and I do dope shit.#SparedByThanos
    Donor TMB OG
    Florida GatorsMiami MarlinsJacksonville JaguarsAvengersMiami HeatWu-tang

  5. Jesse Palmer

    Jesse Palmer Hair Product & Roses
    Donor

    Will Disney dip below 80 before this is all said and done?

    Asking for a friend :gocho:
     
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  6. BP

    BP Bout to Regulate.
    Donor
    Atlanta BravesGeorgia BulldogsAtlanta Falcons

    Besides the shit going on now, their amusement parks and cruise lines are taking a hit and outside of the Mandalorian their streaming service hasn't been exactly well received. Theyre reducing streaming quality in Europe, not to mention the movies getting pushed back.
    But I've also bought some puts that aren't looking too good, so what do I know.
     
    #13906 BP, Mar 24, 2020
    Last edited: Mar 24, 2020
  7. The Hebrew Husker

    Donor
    Nebraska CornhuskersSeattle MarinersColorado AvalanceWWE

    LOL American Airlines is +30%, which improves my position to a -30% loss since I bought.
     
  8. BrickTamland

    BrickTamland You're not Ron...
    Donor
    Florida State Seminoles

    Commenity is another HYSA option that we use. Downside with them is that they won’t sync with Mint (obviously not an issue if you don’t use Mint.)
     
  9. Anison

    Anison Known friend and trusted agent
    Donor
    Michigan WolverinesDetroit PistonsDetroit LionsArsenal

    Anyone else been buying long calls on undervalued and soon-to-be-bailed-out companies. All my 1/15/21 calls bought in the last two weeks are up 40% or more.
     
  10. gordon bombay

    gordon bombay magician's alliance enthusiast
    Georgia Tech Yellow JacketsAtlanta BravesAtlanta HawksAtlanta Falcons

    was hoping the 60minutes story on them would bump but seems like it did more damage than good.
     
  11. Fusiontegra

    Fusiontegra My life is dope and I do dope shit.#SparedByThanos
    Donor TMB OG
    Florida GatorsMiami MarlinsJacksonville JaguarsAvengersMiami HeatWu-tang

    Well, they also got hit with the civil case for lying about their cure readiness early this month. It won't settle until sometime in May probably, but the news definitely made them take a hit.
     
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  12. Baseballman86

    Baseballman86 Well-Known Member

    Lol MGM up 37% just today
     
  13. texasraider

    texasraider thanks
    Donor
    Texas RangersKansas City ChiefsTottenham HotspurDallas Mavericks altTexas Tech Red Raiders alt

    all the shitcos are firing off
     
  14. Baseballman86

    Baseballman86 Well-Known Member

    Geez, Dow gonna be up 10% soon
     
  15. Baseballman86

    Baseballman86 Well-Known Member

    Surely a big chunk of this is already baking in bailout and stimulus assumptions?
     
  16. dukebuckeye

    dukebuckeye P.G.I.T
    Donor TMB OG
    Ohio State BuckeyesCleveland BrownsColumbus Blue JacketsCleveland CavaliersCleveland Indians

    I’m up 22.5% today. Craziness.
     
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  17. chopcity

    chopcity Well-Known Member
    Donor

    It's gotta be a dead cat bounce... right? I mean we are on lockdown.
     
  18. billdozer

    billdozer Well-Known Member
    Donor
    Clemson TigersCarolina Panthers

    I would think so. It's a stimulus/Trump inferring we're getting back next week bounce.
     
  19. dukebuckeye

    dukebuckeye P.G.I.T
    Donor TMB OG
    Ohio State BuckeyesCleveland BrownsColumbus Blue JacketsCleveland CavaliersCleveland Indians

    Has to be. Until a stimulus goes through and testing is readily available to everyone, I think this will continue to bounce.
     
    dahldennsull likes this.
  20. Baseballman86

    Baseballman86 Well-Known Member

    I have to think if we make it to Friday still with no stimulus, and if the case numbers continue growing as expected, we give every bit of this back and then some.
     
  21. chopcity

    chopcity Well-Known Member
    Donor

    I just can't understand what made it all shoot like this. Crazy
     
  22. billdozer

    billdozer Well-Known Member
    Donor
    Clemson TigersCarolina Panthers

    I'm considering getting into SPXS right now. But I'm thinking we could keep going up tomorrow.
     
  23. JeremyLambsFace

    JeremyLambsFace For bookings contact Morgan at 702-374-3735
    Donor
    South Carolina GamecocksAtlanta BravesDallas CowboysNational LeagueAvengersBarAndGrill

    I’ve been thinking about it but couldn’t find any I felt comfortable with
     
  24. billdozer

    billdozer Well-Known Member
    Donor
    Clemson TigersCarolina Panthers

    Ex-dividend date for I-shares ETFs is tomorrow. Will be interesting to see what they end up being. If they are hit now or it waits a quarter.
     
  25. texasraider

    texasraider thanks
    Donor
    Texas RangersKansas City ChiefsTottenham HotspurDallas Mavericks altTexas Tech Red Raiders alt

    waiting patiently for a signed chart from our dear dipshit.
     
  26. billdozer

    billdozer Well-Known Member
    Donor
    Clemson TigersCarolina Panthers

    Invesco Mortgage Capital Says Unable to Meet Margin Calls
    Invesco Mortgage Capital says it was unable meet margin calls it received on Monday.

    Invesco Mortgage Capital (IVR) - Get Report said Tuesday it was unable meet its margin calls it received on Monday and it didn't expect to be able fund the anticipated volume of future margin calls under its financing arrangements due to the disruptions caused by coronavirus pandemic.

    Shares of the Atlanta-based real estate investment trust were tumbling 47.7% to $2.79.

    Invesco also said it was also in discussion with lenders regarding forbearance agreements, where the lenders would agree to forbear their rights with respect to an event of default.

    "The company cannot predict whether its financing counterparties will enter into a forbearance agreement, the timing of any such agreement, or the terms thereof," Invesco said in a statement.

    Invesco also said it would delay payment of its quarterly cash dividends. The 50 cents a share dividend had been declared on March 17 and was to be paid on April 28..

    Invesco primarily focuses on investing in, financing, and managing residential and commercial mortgage-backed securities, and other mortgage-related assets.

    "The company will continue to evaluate its liquidity situation and plans to provide updates regarding new payment dates and, if necessary, new record dates, for the dividends once such dates have been determined," Invesco said in a statement.
     
    Doc Louis likes this.
  27. Joystick Izzy

    Joystick Izzy Well-Known Member
    Donor
    Georgia BulldogsAtlanta BravesTennessee TitansNashville Predators

    You can still do Roth even if you’re a high income earner. Just have to go through the backdoor method.
     
    Anison, Lyrtch and billdozer like this.
  28. billdozer

    billdozer Well-Known Member
    Donor
    Clemson TigersCarolina Panthers

    That's true.
     
  29. Lyrtch

    Lyrtch My second favorite meat is hamburger
    Staff Donor

    vangard makes doing backdoors crazy easy

    i have a trad ira account that they never close even when i empty it out, i fund it, then they have a button to "convert to roth" which lets me deposit it right into my existing roth

    can be done all in the same day
     
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  30. Doc Louis

    Doc Louis Well-Known Member
    Donor

    Algorithms.
     
  31. Doc Louis

    Doc Louis Well-Known Member
    Donor

    That's awful to hear. They've got such a nice building they work in.
     
  32. Arliden

    Arliden Well-Known Member



    Can't believe this.
     
  33. Paddy Murphy

    Paddy Murphy Well-Known Member
    Atlanta BravesCarolina PanthersWofford TerriersUnited States Men's National Soccer TeamLiverpool

    6 trillion dollar bailout? Somebody closer to the specifics explain to me what the hell they are going to do with that?
     
  34. Paddy Murphy

    Paddy Murphy Well-Known Member
    Atlanta BravesCarolina PanthersWofford TerriersUnited States Men's National Soccer TeamLiverpool

    6 trillion dollar bailout? Somebody closer to the specifics explain to me what the hell they are going to do with that?
     
  35. EdmondDantes

    EdmondDantes Both winner in league and apparently at life, haha
    Staff Donor TMB OG
    Nebraska CornhuskersDenver NuggetsBig 8 ConferenceNebraska Cornhuskers alt

    Remember when the markets used to go up or down like 1% or less per day?
     
  36. billdozer

    billdozer Well-Known Member
    Donor
    Clemson TigersCarolina Panthers

    I think that number includes the actions the fed is taking.
     
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  37. Paddy Murphy

    Paddy Murphy Well-Known Member
    Atlanta BravesCarolina PanthersWofford TerriersUnited States Men's National Soccer TeamLiverpool

    My trader buddy, and I have no idea if this makes sense give the package, says that 6 Tn leads him to believe they expect 3 more months of basically shutdown. Says it takes about 2 Tn per month to keep the economy going, and in the absence of consumers and participants the government will have to fill a large portion of that. Sounds like life support rather than stimulus to me.
     
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  38. momux

    momux AFAM Scholar
    Donor
    North Carolina TarheelsCarolina PanthersChelsea

    FWIW I don’t know about the numbers but agree with the outcome. The direction is basically to keep the banks liquid to ensure they can keep key corporations running through extensions of credit.

    The banks know they’ll have to pay all this back.
     
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  39. billdozer

    billdozer Well-Known Member
    Donor
    Clemson TigersCarolina Panthers

    But we'll be back to normal by Easter
     
  40. Baseballman86

    Baseballman86 Well-Known Member

    Easter 2021
     
  41. BP

    BP Bout to Regulate.
    Donor
    Atlanta BravesGeorgia BulldogsAtlanta Falcons

    Just add some more 0's to the ol' Fed account.
     
  42. burnttatertot

    burnttatertot (๏̯๏)
    Donor
    Washington State CougarsSeattle MarinersHartford WhalersSeattle SupersonicsSeattle Sounders

    Did we all get rich today?
     
  43. Louis Holth

    Louis Holth David LaChapelle levels of not giving a fuck
    Donor
    South Carolina GamecocksAtlanta BravesCharlotte HornetsCarolina PanthersTottenham Hotspur

    Si
     
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  44. burnttatertot

    burnttatertot (๏̯๏)
    Donor
    Washington State CougarsSeattle MarinersHartford WhalersSeattle SupersonicsSeattle Sounders

    Get ready for richer tomorrow, bill passed.
     
  45. Gallant Knight

    Donor
    Arkansas RazorbacksHouston AstrosAston Villa

    Think this may be a buy the rumor sell the news situation

    Futures are flat
     
  46. Doc Louis

    Doc Louis Well-Known Member
    Donor

    Someone will try to hold the country fucking hostage over some bullshit or other and keep it from passing today.
     
  47. billdozer

    billdozer Well-Known Member
    Donor
    Clemson TigersCarolina Panthers

    Down 1% now
     
  48. RockHardEnis39

    RockHardEnis39 StEvIS_iN_cBuS/LandlordBob stalks me
    Donor
    Penn State Nittany LionsSan Francisco GiantsPhiladelphia 76'ersPhiladelphia FlyersLiverpool

    It passed over night, but I think that was priced into yesterdays rally
     
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