Investing General Discussion

Furry

Furry

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Locnar said:
A friend of mine who has a very creative CPA just got a letter in the mail from the IRS asking for additional documents on some of his stuff from 2019, so yeah checks out.
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I've always stated that I'm very pro avoiding every penny of tax you don't have to pay, and that's a big chunk of my retirement plan. Even if my business were to get audited, I'm very confident that I'd pass with flying colors. The revenue is real, and the expenses are real and easy to justify toward what the business does. I have the receipts if the IRS ever comes a knocking. Extremely organized digitally, but conveniently in two massive unsorted shoebox's for the IRS.

My line is at getting creative and trying to pump any of those numbers. If I didn't actually make that money or didn't actually spend it, that's a plan I'd hard pass on. Trying to recycle money and pump numbers up to avoid taxes is just too risky for me. I want to dodge the IRS, not fight it.
 
taebin

taebin

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Fidelity have fucked up positions for anyone else this morning? Half my positions they are saying I am trading on margin (bought with cash) and all my G/L & Cost Basis are showing as pending.
 
fris

fris

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Corp tax hike is pants on head retarded. We will have higher unemployment a year from now.
 
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Blazin

Blazin

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Pogi.G said:
I am going to be a little smarter this time around.

When the dow returns to sub 19k because of Biden's "progressive" tax policies, I am going to take half my trading account and move it to my long-term investments. I will probably buy up these same companies. Leave the other half in the trading account to play with.

And yes, I absolutely believe that Biden/Harris is going to take us back to sub 19. Because of this, what are your thoughts on cashing out the retirement account now before it takes a massive hit? I am 40 with 0 debt except a mortgage payment, and I believe I make enough to replenish the retirement account when/if market recovers.
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First please never talk about the Dow, dow levels are meaningless. Large Cap market is the SPX. So given your same prediction we are going back to SPX 2200. What's your game plan for if you are wrong. You sell now preparing for this and then a year from now we are at 4600 what do you do?
 
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Furry

Furry

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Blazin said:
First please never talk about the Dow, dow levels are meaningless. Large Cap market is the SPX. So given your same prediction we are going back to SPX 2200. What's your game plan for if you are wrong. You sell now preparing for this and then a year from now we are at 4600 what do you do?
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Same thing every diligent investor does. Say they got back in at 2210 when they realized they were wrong and now they are rich, so much money. Markets have gone up a lot though, so probably time to move to cash.
 
Sanrith Descartes

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taebin said:
Fidelity have fucked up positions for anyone else this morning? Half my positions they are saying I am trading on margin (bought with cash) and all my G/L & Cost Basis are showing as pending.
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Im fine, no issues.... other than all the red.
 
Sanrith Descartes

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fris said:
Corp tax hike is pants on head retarded. We will have higher unemployment a year from now.
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Tax hikes have to pass the Senate and not through reconciliation. They cant pass it without doing away with the filibuster.
 
Blazin

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Furry said:
Markets have gone up a lot though, so probably time to move to cash.
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Some serious analytical thinking here. Man you cracked the code.

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Hateyou

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Pogi.G said:
I am going to be a little smarter this time around.

When the dow returns to sub 19k because of Biden's "progressive" tax policies, I am going to take half my trading account and move it to my long-term investments. I will probably buy up these same companies. Leave the other half in the trading account to play with.

And yes, I absolutely believe that Biden/Harris is going to take us back to sub 19. Because of this, what are your thoughts on cashing out the retirement account now before it takes a massive hit? I am 40 with 0 debt except a mortgage payment, and I believe I make enough to replenish the retirement account when/if market recovers.
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If you are 100% feeling this will happen, without a doubt in your mind, move to cash and wait for this big dip. You just need to be prepared mentally for what happens if you are wrong and it doesn’t happen. You will miss out on gains the entire time you’re in cash.

I did this last year and it paid off bigly for me. If the crash didn’t happen though, I’d have missed out a long period of gaining. I wasn’t 100% sure (Just impossible with the stock market) so I only moved 80% to cash. I still would have missed out a lot if I was wrong though.

Do what you want but prepare yourself for if you’re wrong, even if you feel 100% confidence it’s going to happen.
 
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Blazin

Blazin

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Hateyou said:
If you are 100% feeling this will happen, without a doubt in your mind, move to cash and wait for this big dip. You just need to be prepared mentally for what happens if you are wrong and it doesn’t happen. You will miss out on gains the entire time you’re in cash.

I did this last year and it paid off bigly for me. If the crash didn’t happen though, I’d have missed out a long period of gaining. I wasn’t 100% sure (Just impossible with the stock market) so I only moved 80% to cash. I still would have missed out a lot if I was wrong though.

Do what you want but prepare yourself for if you’re wrong, even if you feel 100% confidence it’s going to happen.
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You have to be right twice, even if the crash comes many are paralyzed by the news driving the crash. "It could get so much worse!" It is far more common to mess up the getting back in. Selling is easy. You are up a lot, you sell, genius. The challenge is being willing to buy back in maybe higher when your assumptions prove false, most people marry the idea. They can't admit they were wrong and they become the normal salty perma bear that has to root against the market because they fucked up.

So many last year were so tickled they sold but most struggled to have the balls to get back in until we were into the summer some later, some not at all. It's easy when the market is at it's highs to say "I would buy that 20-30% lower", it's another matter entirely to actually do it.

I sell all the time I sure as shit don't do it because "the market has gone up a lot" or "I have a bad feeling". It's taking in the weight of the evidence and trading the chart that is in front of you.

The best way to stomach the declines is by participating in the long gains. People's fear stops them from participating in much of the gains and then they are doubly hurt when they finally do cave because unlike everyone else they aren't up 80% when that 10% correction hits.

There will ALWAYS be reasons to sell and things to fear in the future, just grinds my gears when people are like "we better sell x issue is just over the hill" Well no shit, please point tot he time that there was no macro issues to be concerned about. The Markets climb a wall of worry.
 
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Ravishing

Ravishing

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Pogi.G said:
I am going to be a little smarter this time around.

When the dow returns to sub 19k because of Biden's "progressive" tax policies, I am going to take half my trading account and move it to my long-term investments. I will probably buy up these same companies. Leave the other half in the trading account to play with.

And yes, I absolutely believe that Biden/Harris is going to take us back to sub 19. Because of this, what are your thoughts on cashing out the retirement account now before it takes a massive hit? I am 40 with 0 debt except a mortgage payment, and I believe I make enough to replenish the retirement account when/if market recovers.
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I don't think you can ever accurately time a 40% selloff. And you will potentially miss out on more gains than you would lose by keeping it in the market.
Even if it does crash to 19K, it would happen over a period of days or weeks. You should be able to assess the situation and get out early.

Also most corrections are around 20%. I doubt we see 19K DOW again unless the USA economy is actually on the brink of collapse, or there is another World War/911/etc, which nobody can really predict.

But if you keep your money in and it goes up another 10-20% before the crash, what are you really going to lose? And if there is a large scale calamity, then we're probably all fucked anyway.

Keep in mind that even though the DOW drops 40+%, your investments have a good chance of not dropping as far, as long as you're diversified.

And due to inflation, going cash is going to be a negative % return. Investing hedges against inflation in most cases.


Just my opinion.
 
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Fogel

Fogel

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taebin said:
Fidelity have fucked up positions for anyone else this morning? Half my positions they are saying I am trading on margin (bought with cash) and all my G/L & Cost Basis are showing as pending.
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Did you just recently convert to a margin account? When you turn on margin in an account it automatically converts all cash to margin even if it's technically cash. It's still treated as cash though, they just need to all read the same for Fidelity to track/trade it properly. It'd be nice if they warn people about this, I almost freaked out too when I first turned on margin.
 
LachiusTZ

LachiusTZ

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X needs to go the fuck back down, I didn't want this covered call actually executing. Lol
 
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Jackie Treehorn

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I know we’ve discussed this before, but god DAMN does Fidelity’s mobile UI (which isn’t even a UI, just webpages) suck shit. It’s really obnoxious. Can a company of this magnitude not do better and get with the times. It’s really pathetic.

I’m not going to use Robinhood again, but on a daily basis I wish Fidelity even touched the UI and ease of use that RH has in their mobile app.
 
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Pogi.G

Pogi.G

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Jackie Treehorn said:
I know we’ve discussed this before, but god DAMN does Fidelity’s mobile UI (which isn’t even a UI, just webpages) suck shit. It’s really obnoxious. Can a company of this magnitude not do better and get with the times. It’s really pathetic.

I’m not going to use Robinhood again, but on a daily basis I wish Fidelity even touched the UI and ease of use that RH has in their mobile app.
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This! I like their active trader pro(I actually like it more than thinkorswim) but FFS, can they not afford a fucking mobile version?
 
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Tmac

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Pogi.G said:
This! I like their active trader pro(I actually like it more than thinkorswim) but FFS, can they not afford a fucking mobile version?
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I can't use ATP on my 2019 MacBook Pro bc it lags the entire thing, so I just use MarketWatch instead.
 
Jackie Treehorn

Jackie Treehorn

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Pogi.G said:
This! I like their active trader pro(I actually like it more than thinkorswim) but FFS, can they not afford a fucking mobile version?
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Exactly, I don’t always have access to my desktop or laptop, and the mobile app is so fucking clunky sometimes I don’t even bother doing things I otherwise would have.

On Robinhood I could at least with great agility trade things quickly and easily with a very clean layout.
 
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Fogel

Fogel

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sold some of my NFT gambles IMTL and IPNFF for 20-40% gain, going to hold the rest for a bit to see if it keeps going up.
 
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