I bought PACW at $6.55 and sold at $8.70. I wasn’t going to hold it overnight. Looks like I missed the run to $13.32 where the real money is made. Such bullshit we can’t trade overnight.
If a bank that holds your mortgage fails, is your mortgage in limbo, must it be transferred to another entity? I understand this is probably a stupid question.
Aka data harvesting its users. One of the reasons I dropped them. The hardware isn’t even that impressive anymore.
Does the bank hold the mortgage? More likely it's a Fannie Mae, Freddie Mac, of FHA loan and that bank just services it. Either way, it'll be transferred to another bank or servicer.
Mortgages have an assignment clause in the agreement which allows the contract to be sold. The bank who issued your mortgage can sell it to third parties. My home mortgage was owned by Washington Mutual in the 2000’s and then became a Wells Fargo mortgage when they dissolved.
Fucking hilarious how loosely the chud street journal is throwing around bailout today and would refuse to use that terminology in 2008.
Markets up on the CPI data. It’s why I find it difficult to see the Fed dramatically reversing course on rates. I can see them not going ahead with a two bp rise but would he surprised if they didn’t go with one. What message are you sending if you don’t?
that we don't know what the ripple effects of SVB are so pausing is the right thing to do on top of still cooling CPI data
Got an email from our Banker (South State Bank)…the comparisons he draws on average deposit size is pretty wild
But that undermines the message that this is a relatively isolated event? If the Fed are incapable of putting rates up to what are relatively normal ones historically without that system falling over- what can they do? To me the later reaction or the large cap stocks shows what this really is- an isolated incident. Some ripple effects in smaller companies shitting it over their lack of treasury functions but in reality the Government have said now that they will stand behind depositors of all types. What’s an interest rate rise really going to do to that? To be clear I’m pretty doveish on inflation and thought the aggressive double bp rise mooted was nuts.
If I understand you correctly. $220 my capital gain x my marginal tax rate. Which I won’t disclose. Let’s call it the 24%. But I’m not holding it till March 14, 2024 and running the risk of getting imploded to save 9% taxes from the switch of short term to long term. All thinks being equal it’s $168 net profit vs. $187 net profit (assuming same stock price YoY). I’ll take the $19 loss to ensure I’m not risking holding too long. If I’m playing something for a trade I don’t like to hold overnight unless I have perfect conviction. It’s just a rigged game to play overnight with market makers.
I actually pulled up a calculator and was shocked that, unless you've got tens of thousands in gains and put down a huge amount of money, the short-term capital gains taxes (for me at least) were shocking not that much more than holding for a year. I was led to believe that it was a huge difference with all the stock I was granted with my company.
Should probably put a trailing stop limit on that, if you haven’t already. Just so you don’t have to watch the stock.
I’m trying to get my accountant to file my taxes as head of household. Routinely sleeping in your mom’s bed should be proof enough.
Every man Dave Ramsey explains this bank situation on layman's terms https://www.tiktok.com/t/ZTR7SMKht/
He has the greatest business model ever created. Get people who are bad with money to give you money.