Investing General Discussion
- Thread starter Furious
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Guest, it's time once again for the massively important and exciting FoH Asshat Tournament!
Go here and give us your nominations!Who's been the biggest Asshat in the last year? Give us your worst ones!
Big Phoenix
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Asshat wormie
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Transition? So you are saying inflation is a progressive cause meant to protect the vulnerable? Well shit, turn up the printing press.
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Asshat wormie
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Sanrith Descartes
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Big Phoenix
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Furry
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Question about the Russian central bank taking action to keep it’s currency from getting stronger against the euro and usd for the time being. Typically with SWIFT there’s a lot of money promises being swung around, but with Russia out of that, I’m assuming the main way countries will get rubles is through actual physical sales of gold. Is keeping their currency temporarily weak a plan to bring more gold in, both to weaken the countries they deal with long term and to make it look easier to swallow short term?
The prudent thing for them seems to be to hold the ruble strength to tracking the inflation in the west and to adjust their gold peg to match if they want to inflict the most possible damage, but maybe I misunderstand how international currency exchange squabbling works.
The prudent thing for them seems to be to hold the ruble strength to tracking the inflation in the west and to adjust their gold peg to match if they want to inflict the most possible damage, but maybe I misunderstand how international currency exchange squabbling works.
Hateyou
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How do we stop people from calling it the Biden Buck Bust?! Putin Price Hike it is!
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Zog
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Did you end up buying AMD? Looks like people couldn't help themselves at 96/share.
Big Phoenix
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Rangoth
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Actually this T/Discovery thing raises a question I've had for a long time, but it's so minor for me I've just ignored it.
I was swing trading DSX and I ended up closing out at some point for a decent profit! So I thought...yay, all good! However at some point they spun off a portion of the business as a company under the ticker OP. I just ignored it(should have sold instantly) and so now I have shares of OP, which is trading @ 0.56$, which I honestly don't care about *except* it shows my cost basis as 6.50$(which interestingly is more than I ever paid for any single share of DSX....
So none of this really matters except it makes my books look poopy because all of that "loss" shows as a reduction to my unrealized gains. /sad panda
Thoughts? Do I just sit on them in the 1 in 10,000,000 chance it moons and if not dump it in Dec. to let the loss cut into my tax bill?
I was swing trading DSX and I ended up closing out at some point for a decent profit! So I thought...yay, all good! However at some point they spun off a portion of the business as a company under the ticker OP. I just ignored it(should have sold instantly) and so now I have shares of OP, which is trading @ 0.56$, which I honestly don't care about *except* it shows my cost basis as 6.50$(which interestingly is more than I ever paid for any single share of DSX....
So none of this really matters except it makes my books look poopy because all of that "loss" shows as a reduction to my unrealized gains. /sad panda
Thoughts? Do I just sit on them in the 1 in 10,000,000 chance it moons and if not dump it in Dec. to let the loss cut into my tax bill?
Sanrith Descartes
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Depending on the broker, they fuck up cost basis on splits, spin-offs, SPACs etc all the time. The "Correct" thing to do is properly report it on your taxes if you sell and realize a gain/loss. That being said, usually when there is a spin-off the original stock price goes down by X when the spin occurs which is equal to the value of the spun-off stock. So they may have dropped DSK by $6.50 when it spun off OP.
Notice T shares dropped about $6 on the spin-off today.
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Zog
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It's always priced in.
Nuclear apocalypse, bond market imploding, hyperinflation, yield curve inversion.
Where can we go but up from here?
Fact we still don't have any panic selling is strange. This is setting up for a rally after CPI data. Peak inflation.
Nuclear apocalypse, bond market imploding, hyperinflation, yield curve inversion.
Where can we go but up from here?
Fact we still don't have any panic selling is strange. This is setting up for a rally after CPI data. Peak inflation.
Rangoth
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You are correct, DSX did temporarily drop but it went back up. Currently at 4.56$ though I don't own it anymore.
Thanks for the tip though, at this point I think I will just let it sit there until Dec. and if it's still sucks I'll harvest some on the books loss from it even though I never really lost a single penny in the DSX swings.
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Sanrith Descartes
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For reference today T finished up $1.36 and WBD up 0.35. Each T share got you 0.24 shares of WBD. Not a bad day for T holders today.
T completed its spin-off of Time Warner today. T stock adjusted down to about $17.66 a share. Its dividend yield is over 6%. Stock up over 3% in the pre-market. The spin off ticker is WBD (Warner Brothers Discovery). Those shares opened at $24.73. Seeing some selling as those who got the spinoff shares are selling them.
AT&T Stock Adjusts For Warner Bros Discovery Debut; JPMorgan Resumes Coverage With 'Overweight' Rating
Warner Bros Discovery will begin trading today on the Nasdaq under the ticker symbol 'WBD' following the $43 billion media asset merger between AT&T and Discovery.www.thestreet.com
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