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odiousgambit
odiousgambit
Joined: Nov 9, 2009
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June 3rd, 2020 at 7:52:21 AM permalink
Quote: SOOPOO

I used to own OKE! Reason I sold is it is not like regular stocks. They treat you like a real owner, giving you an actual K-1 that you need to file with your tax return. It was a (minor) pain in the ass. Some of the dividend is return of principal, some of it is not taxable, etc.... I had 3 stocks like that and I sold them all. Not worth the effort.

I also vowed to never own anything again that requires filing a K-1 after going through that with a different one.

I use turbo-tax and even with them guiding you through you had to wonder if you were doing it right.

I suppose somebody somewhere might be shaking their head because they made out well with K-1 type stock, but to just own a few thou in some dumb thing, nope, never again for me.
the next time Dame Fortune toys with your heart, your soul and your wallet, raise your glass and praise her thus: “Thanks for nothing, you cold-hearted, evil, damnable, nefarious, low-life, malicious monster from Hell!” She is, after all, stone deaf. ... Arnold Snyder
SOOPOO
SOOPOO
Joined: Aug 8, 2010
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June 5th, 2020 at 1:10:50 PM permalink
Now up around 2% since Jan 1, 2020. It makes NO sense. Under what metric are businesses better off today than they were on Jan 1? I can of course see it being up a lot from the recent bottoms, but up year to date? LIKE NOTHING HAS HAPPENED? I do remember the thought that money either has to be in cash, doing nothing, or in stocks, hoping for appreciation, or in bonds, taking a steady income. People investing in bonds now are getting close to nothing. I looked at buying a 1 year CD or bond, and if you want safety, the banks are offering 0.1%! So my $5,000 to invest, if I put it in one of those CD's, I will reliably get $5,005 a year from today. I give you $5,000 for a year, and next year you give it back to me, and add a latte for me?
I bought a JUNK bond today! Dillards. Pays around 8% annually until 2026. Got it for $960 per thousand. So someone must think Dillards will be going belly up. I may regret it. We shall see......
billryan
billryan
Joined: Nov 2, 2009
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June 5th, 2020 at 1:41:50 PM permalink
Businesses have received trillions of capital from the government while shedding millions of jobs. People are chasing the next pharma stock, the virus has disappeared and racial harmony is better than ever. Why wouldn't the market be up? BTW- lend me $5,000 today and I'll return it, with an extra Ben Franklin in a year's time.
SOOPOO
SOOPOO
Joined: Aug 8, 2010
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June 8th, 2020 at 2:16:29 PM permalink
Quote: billryan

Businesses have received trillions of capital from the government while shedding millions of jobs. People are chasing the next pharma stock, the virus has disappeared and racial harmony is better than ever. Why wouldn't the market be up? BTW- lend me $5,000 today and I'll return it, with an extra Ben Franklin in a year's time.



If biilyryan had FDIC insurance, we'd have a deal!

After today's run up, now up 71% since inception. Out of my 4 retirement portfolios, the WoV one has done the best during the pandemic. Buoyed by Tesla, FB, Costco, Mastercard...
unJon
unJon
Joined: Jul 1, 2018
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June 8th, 2020 at 3:32:24 PM permalink
Quote: odiousgambit

I also vowed to never own anything again that requires filing a K-1 after going through that with a different one.

I use turbo-tax and even with them guiding you through you had to wonder if you were doing it right.

I suppose somebody somewhere might be shaking their head because they made out well with K-1 type stock, but to just own a few thou in some dumb thing, nope, never again for me.

K-1 stocks don’t themselves pay taxes, the taxes are passed through to the shareholders. As long as there’s enough free cash flow to pay dividends to shareholders to cover taxes, it’s can be a tax efficient structure.
The race is not always to the swift, nor the battle to the strong; but that is the way to bet.
WatchMeWin
WatchMeWin
Joined: May 20, 2011
  • Threads: 105
  • Posts: 1629
June 10th, 2020 at 6:30:00 PM permalink
Quote: SOOPOO


By the way, TSLA is around $900 again. I have a deal with wifey that if it hits $1,000, she gets some ludicrously expensive purse or shoes. I'm hoping for a peak at $999.........



Congrats Soopoo! Tesla closed over 1000 today. Good day all around! Im in it as well. So, I would suggest Chanel Vintage Classic Double Flap Bag Quilted Lambskin for the wife. Can't go wrong with this purse.... Trust me!
'Winners hit n run... Losers stick around'
SOOPOO
SOOPOO
Joined: Aug 8, 2010
  • Threads: 108
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June 11th, 2020 at 5:58:44 AM permalink
Quote: WatchMeWin

Congrats Soopoo! Tesla closed over 1000 today. Good day all around! Im in it as well. So, I would suggest Chanel Vintage Classic Double Flap Bag Quilted Lambskin for the wife. Can't go wrong with this purse.... Trust me!



Gulp.... USED it is $2650...... I think she is planning on setting me back just a little over $1k. I sold 10 shares yesterday at $1011. Next plan to sell would be if the crazies get it up to $1500. Now have 40 shares.

The bad part of the TSLA upswing yesterday was that it came on a day my overall portfolio took a .6% hit or so. So I couldn't really celebrate. Today looks like an even worse day. Oh well.
WatchMeWin
WatchMeWin
Joined: May 20, 2011
  • Threads: 105
  • Posts: 1629
June 11th, 2020 at 7:39:46 AM permalink
Quote: SOOPOO

Gulp.... USED it is $2650...... I think she is planning on setting me back just a little over $1k. I sold 10 shares yesterday at $1011. Next plan to sell would be if the crazies get it up to $1500. Now have 40 shares.

The bad part of the TSLA upswing yesterday was that it came on a day my overall portfolio took a .6% hit or so. So I couldn't really celebrate. Today looks like an even worse day. Oh well.



I will just say this... happy wife, happy life. A couple grand is nothing compared to the life long gratitude your wife will give you. One thing Ive learned over the years is that women love purses and value them greatly! Besides, its profit you are purchasing it with...

FYI, hold on to TSLA because sky is the limit for that company. Elon Musk has revolutionized many industries. TSLA is changing the world and will continue to thrive. Its hard to believe that so many wall street 'smarties' shorted this stock way back when.
'Winners hit n run... Losers stick around'
SOOPOO
SOOPOO
Joined: Aug 8, 2010
  • Threads: 108
  • Posts: 6826
July 15th, 2020 at 12:59:43 PM permalink
Quote: SOOPOO

Gulp.... USED it is $2650...... I think she is planning on setting me back just a little over $1k. I sold 10 shares yesterday at $1011. Next plan to sell would be if the crazies get it up to $1500. Now have 40 shares.

The bad part of the TSLA upswing yesterday was that it came on a day my overall portfolio took a .6% hit or so. So I couldn't really celebrate. Today looks like an even worse day. Oh well.



Well.... a month has gone by... and the crazies have bid Tesla up to around $1550 today. Total portfolio now up 74%. I will probably sell 5 more shares of TSLA tomorrow.... The problem for me is I have to find something to replace it.... and I think I have no good ideas....
DRich
DRich
Joined: Jul 6, 2012
  • Threads: 71
  • Posts: 6097
July 15th, 2020 at 4:47:57 PM permalink
Quote: SOOPOO

Well.... a month has gone by... and the crazies have bid Tesla up to around $1550 today. Total portfolio now up 74%. I will probably sell 5 more shares of TSLA tomorrow.... The problem for me is I have to find something to replace it.... and I think I have no good ideas....



Congrats!

I just bought a little Citibank yesterday at $50. I know very little about the stock market but Jim Cramer sold me on it. He said the book value of it was $71 a share and if they closed tomorrow that would be their worth assuming no further income. I don't know if that is true or not but I bought a few thousand dollars of it. I used to own AMEX but now Citi is my only financial stock.
Living longer does not always infer +EV

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