Official Investing Thread

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

  1. PaulKemp

    PaulKemp Well-Known Member
    Donor TMB OG

    The money I had left from penny gambling was just sitting there, and your post reminded me of it, so I put it in ARKK. I’m now heavily invested psychologically
     
    dukebuckeye, jac3672 and letan like this.
  2. jac3672

    jac3672 Well-Known Member

    This is what I pay for.
     
  3. Joe Louis

    Joe Louis no thank you turkish, i'm sweet enough
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    Michigan WolverinesDetroit Tigers

    This hearing is painful. Some congressman had to ask "so why can't Robinhood customers buy Robinhood stock?" Uhhh, cause they aren't publicly traded guy?? Then a regulator had to explain to him what an accredited investor is :facepalm:
     
  4. tjosu

    tjosu This is kind of like the breakfast club, huh?
    Donor
    Oklahoma State CowboysHouston AstrosHouston TexansTiger Woods

    Was supposed to get married last year so fiancée and I both had plans to backdoor Roth. We postponed the wedding so she assumed that meant we’d be fine for the Roth limits. She didn’t factor in the substantial moving expenses paid by our company that would hit her W2 and went ahead and maxed out her Roth. Now I’m dealing with excess contributions and having to correct this while I work on her taxes. This shit is an absolute nightmare
     
  5. Jimmy the Saint

    Jimmy the Saint It's like the Weimar Republic in that place
    Donor
    Penn State Nittany LionsGreen Bay PackersChelseaHartford WhalersPhoenix Rising

    T's and p's.
     
    tjosu likes this.
  6. Hail Southern

    Hail Southern GATA Eagles!
    Donor
    Atlanta BravesAtlanta FalconsAtlanta UnitedGeorgia Southern EaglesUnited States Men's National Soccer Team

    I overfunded my HSA and spent about 4 hours getting it corrected, hopefully yours will be as easy or easier.
     
  7. The Milkman

    The Milkman Send lawyers, guns and money, shit has hit the fan

    do you understand the liquidity situation in our country?
     
  8. Arliden

    Arliden Well-Known Member

    Well aware, do you have a problem with what I told him?
     
  9. CaneKnight

    CaneKnight Well-Known Member
    Donor

    This is what happens when you elect stupid people instead of experts and then actual experts sometimes get elected and can’t get on committees. This is why our country sucks
     
    Joe Louis likes this.
  10. tjosu

    tjosu This is kind of like the breakfast club, huh?
    Donor
    Oklahoma State CowboysHouston AstrosHouston TexansTiger Woods

    Finally found it on Fidelity and seems simple enough to process online. Best part of all this is I’ve gone through the steps of the IRS calculation of net income that Fidelity will use and we’re talking around $200 since she contributed just in December. These are a lot of hoops to go through just to end up at a $20 tax penalty
     
  11. The Milkman

    The Milkman Send lawyers, guns and money, shit has hit the fan

    yes, people will continue to increase their risk profiles in a zero interest climate. especially when the fed prints 120B per month
     
    momux and Tug like this.
  12. Det. Frank Bullitt

    Det. Frank Bullitt God Bless Texas
    Donor TMB OG
    Texas LonghornsManchester United

    We also over contributed, per a couple run throughs of TurboTax - though I need to complete some further reviews of the exact manner of the contributions. If so, we might owe standard taxes on some of the contributions.

    I wonder what the benefit might afford if we hire a professional. Probably better to just pay the tax on them.
     
  13. Arliden

    Arliden Well-Known Member

    All I told him is to understand what he is buying, if he wants to increase his risk profile thats fine that is his call. He should understand he is putting a majority of his position in an ETF filled with overpriced growth stocks and even that isn't infallible in this market. If yields continue to rise that will put pressure on a lot of these growth stock valuations. Edit: This doesn't include things like stimulus falling through, inflation showing up this year, etc. invest in what you want but understand if one has a higher chance of falling 50% over another.
     
  14. tjosu

    tjosu This is kind of like the breakfast club, huh?
    Donor
    Oklahoma State CowboysHouston AstrosHouston TexansTiger Woods

    It’s a huge pain reading through all this that’s for sure. I think you might be looking at the same 10% penalty on the earnings from your IRA during the period that the excess contribution was in the account but hard to say without knowing your situation. Luckily, I’m a tax guy and CPA so I’m fairly comfortable getting into all this shit if you want to PM at all, I can share my side and understanding of everything (which isn’t perfect, full disclosure)
     
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  15. The Milkman

    The Milkman Send lawyers, guns and money, shit has hit the fan

    All I’m saying is ARKK will be 300 by dec 31, 2021 due to liquidity.
     
    NothingIsOT likes this.
  16. Arliden

    Arliden Well-Known Member

    Look I think we are both bullish and ARKK very well could be 300 by then but saying the Fed is buying 80B a month in treasuries and that’s why is only looking at one variable. What is treasury issuance? Till like a week ago they were going to force feed the market 800B in treasury issuance this quarter. What would yields do then? Now they’ve decided to draw down the TGA instead and that will increase liquidity. But don’t be surprised if Jerome and Co. try to see what the market will take on its own in the future so it all doesn’t end up on their balance sheet. Which they will do till something in the market breaks, see Q4 2018. What got hammered most then? Tech.

    This doesn’t include risks like inflation showing up or republicans blocking stimulus.
     
  17. Det. Frank Bullitt

    Det. Frank Bullitt God Bless Texas
    Donor TMB OG
    Texas LonghornsManchester United

    Thanks man.

    I might ping you depending on the answer to the question I sent into my bank. Currently day 8 of awaiting their reply. Appreciate the offer either way.
     
    tjosu likes this.
  18. Tug

    Tug Well-Known Member
    Donor
    Detroit LionsDetroit PistonsMichigan State Spartans

    Hi I know nothing about this but see that ARKK is currently $150. 300 is more money than that and I like money. Can you clarify why this will grow or point me toward that part of the discussion?
     
    dukebuckeye and fish like this.
  19. NC Wolfpack

    NC Wolfpack Go Pack Go
    Donor
    North Carolina State WolfpackGreen Bay Packers

    In the process of completing my tax return and am now realizing that I made the mistake of changing my filing status (single to married), but not including my wife’s income to determine how much extra our employer should hold. Our employers began holding 50% less than what they had been. My dumbass thought it was a “tax benefit” for being married.

    Went from historically getting some money back from Uncle Sam to now cutting a substantial check to send their way.
     
  20. momux

    momux AFAM Scholar
    Donor
    North Carolina TarheelsCarolina PanthersChelsea

    I’m wrong about a lot of things but I feel pretty confident that the fed buying program will last at least into the end of Q2.
     
    construxboy likes this.
  21. Arliden

    Arliden Well-Known Member

    100%, the more interesting part is how much of the Treasuries issuance will the Fed buy?
     
  22. kinghill

    kinghill Well-Known Member
    Donor
    Miami HurricanesMiami MarlinsMiami DolphinsMiami HeatPoker

    That sucks.

    Protip: Run through this in Q1 each year, then again in Q2/Q3 including any changes to see if you're on target for as close to break even as possible with your return:
    https://www.irs.gov/individuals/tax-withholding-estimator
     
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  23. letan

    letan Just looking for the gator board
    Donor
    Real MadridJacksonville JaguarsFlorida GatorsTampa Bay Rays

    brb investing my entire net worth into arkk based on the milkman guarantee
     
    Tug likes this.
  24. The Milkman

    The Milkman Send lawyers, guns and money, shit has hit the fan

    It’s amazing to me how much fear outsells optimism. Lazy fearful arguments are given the highest priority. Why, bc it scares people.

    bulls get treated like retarded golden retrievers, as they continually win.
     
  25. Gallant Knight

    Donor
    Arkansas RazorbacksHouston AstrosAston Villa

    I am shorting the absolute tits off $NRG tomorrow. One of the most exposed energy retailers in Texas. It just added ~750,000 new customers in Texas in January via an acquisition of Direct Energy for $3.6b in cash. These new customers came with 0 power generation capabilities as Direct Energy was a buyer of power from other generators. I think NRG was left holding all sorts of $9,000 MWh bags this week.
    They report 4q earnings on Thursday. If they revise guidance they’ll get hammered
     
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  26. dukebuckeye

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

    I’ll be shorting $NRG with all of my savings tomorrow.
     
    #24376 dukebuckeye, Feb 19, 2021 at 12:10 AM
    Last edited: Feb 19, 2021 at 12:37 AM
  27. burnttatertot

    burnttatertot (๏̯๏)
    Donor
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    I will not be shorting NRG but understand why one would.
     
  28. Gallant Knight

    Donor
    Arkansas RazorbacksHouston AstrosAston Villa

    Notice the difference in Vistra’s (TXU) response and NRG’s with respect to energy price hedges and power generation. One sounds well prepared and the other was basically a no comment.

    24750310-5B90-4B1D-B818-97A2A9508E1B.jpeg B05C04B0-AC49-4102-BADA-B60957931793.jpeg
     
  29. Gallant Knight

    Donor
    Arkansas RazorbacksHouston AstrosAston Villa

    If NRG unhedged Direct Energy’s position as a way to pay the $3.6b price that could be interesting
     
  30. kinghill

    kinghill Well-Known Member
    Donor
    Miami HurricanesMiami MarlinsMiami DolphinsMiami HeatPoker

    I'm so boring. Transferred an extra 1k and was hunting around for penny stocks but ended up just doing this

    Order date Status Symbol Transaction type Quantity Order type
    02/19/2021 In Progress VTSAX Buy $750
    02/19/2021 In Progress VTIAX Buy $250
     
    Tug likes this.
  31. Lyrtch

    Lyrtch My second favorite meat is hamburger
    Staff Donor

    most empirically supported option fwiw
     
  32. BP

    BP Bout to Regulate.
    Donor
    Atlanta BravesGeorgia BulldogsAtlanta Falcons

    The congressman calling the RH help line and going straight to voicemail on camera was the best part of yesterday.
     
  33. Gallant Knight

    Donor
    Arkansas RazorbacksHouston AstrosAston Villa

    Ok I just bought:

    100 2/26 $37 puts for $0.65 each; and
    75 2/5 $37 puts for $0.90 each

    Would absolutely love some news either after the bell today or before open on Monday that $NRG has drawn down their credit lines
     
  34. Hawks11

    Hawks11 The arsonist has oddly shaped feet
    Donor
    Alabama Crimson TideAtlanta BravesAtlanta Hawks

    Question: Fidelity has marked one of my stocks as a wash sale. However, I haven’t sold a single share. I bought some of the stock Tuesday and bought more of it today. How is that a wash sale?
     
  35. tjosu

    tjosu This is kind of like the breakfast club, huh?
    Donor
    Oklahoma State CowboysHouston AstrosHouston TexansTiger Woods

    Maybe they’re doing it as a warning? Although, I did not see it when I bought NOK in separate lots; it showed up for me when I actually sold and had a wash impact
     
    Hawks11 likes this.
  36. Ty Webb

    Ty Webb Living rent free in Jigga's head
    Donor
    Nebraska CornhuskersChicago CubsChicago BullsDetroit LionsChicago BlackhawksTiger Woods

    Sounds like an error. At TD I think you can go in and adjust those. Not 100% on that though.
     
  37. Hawks11

    Hawks11 The arsonist has oddly shaped feet
    Donor
    Alabama Crimson TideAtlanta BravesAtlanta Hawks

    I’ve been on hold with Fidelity for more than an hour at this point.
     
  38. burnttatertot

    burnttatertot (๏̯๏)
    Donor
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  39. Det. Frank Bullitt

    Det. Frank Bullitt God Bless Texas
    Donor TMB OG
    Texas LonghornsManchester United

    just passed this point in the hearing. roughly 4h 10m in, ~2 hours to go. Casten's questions and time were great.
     
    BP likes this.
  40. Fusiontegra

    Fusiontegra My life is dope and I do dope shit.#SparedByThanos
    Donor TMB OG
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    Ecstatic to watch this play out
     
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  41. Ty Webb

    Ty Webb Living rent free in Jigga's head
    Donor
    Nebraska CornhuskersChicago CubsChicago BullsDetroit LionsChicago BlackhawksTiger Woods

    Good lord. If you didn't get it resolved, might be better off sending a message since it isn't pressing. I know the backup at TD has been insane from some friends that work there.
     
  42. Hawks11

    Hawks11 The arsonist has oddly shaped feet
    Donor
    Alabama Crimson TideAtlanta BravesAtlanta Hawks

    I finally spoke to someone after being on hold two hours and six minutes. My stock had a reverse split, and without notifying me in any way, Fidelity sold a fractional share (even though I’ve never even purchased a fractional share) but everything else remained. It doesn’t even show up on my history, which is so stupid. The guy said he’d been working there a few years now and had never seen it.
     
    Ty Webb likes this.
  43. The Hebrew Husker

    Donor
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    Im pretty sure if there’s “extra shares” left over from the split, those shares can’t be held so there’s no choice but for them to just pay you out for the difference.

    At least that’s how it’s worked on the couple of stocks I had that went through a reverse split.
     
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  44. Hawks11

    Hawks11 The arsonist has oddly shaped feet
    Donor
    Alabama Crimson TideAtlanta BravesAtlanta Hawks

    Yeah, I guess my biggest frustration comes from them not notifying me.
     
    Ty Webb likes this.
  45. The Hebrew Husker

    Donor
    Nebraska CornhuskersSeattle MarinersColorado AvalanceWWENebraska Cornhuskers alt

    Both times it’s happened to me the only reason I know is I see the amount of shares I own changed. Then a couple days later once the sale settles I’ll see some type of “reverse split fractional share” on my history. This is at TDA.
     
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  46. Gallant Knight

    Donor
    Arkansas RazorbacksHouston AstrosAston Villa

    Vistra (TXU) usually generates around 18% of the power in Texas. On Sunday and Monday they were at 25-30%. NRG held so many fucking $9,000 MWh bags on Sunday and Monday it’s not even funny

    TXU was the largest energy retailer in Texas when they went chapter 11 in 2014.
     
  47. Gallant Knight

    Donor
    Arkansas RazorbacksHouston AstrosAston Villa

    Buying $VST Tomorrow morning both calls and just the equity
     
  48. BP

    BP Bout to Regulate.
    Donor
    Atlanta BravesGeorgia BulldogsAtlanta Falcons

    BA could take a tumble
     
  49. infected donkey

    infected donkey Arkansas Razorbacks
    Donor
    Arkansas RazorbacksChicago CubsAvengersBarAndGrillSoutheastern Conference

    It's only the Pratt &whitney engine aircraft, not all of them.