RumblingRosco
Member
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Soka said:I've decided to take my lumps and go down in the fire. I'm young enough and have enough money in other areas that I can afford the hit in the stock market. Not happy about it, but I'll be fine. Just biding my time until I can buy in big.
Cheesemeister said:Link?
kathode said:Yup, just like I thought, it looks like the AAPL outlook is missing the estimates, and shares are tanking. I'm about ready to cash out my entire portfolio and stuff it inside my mattress at this point![]()
After Hours: 137.20 -18.44 (-11.85%) - Jan 22, 5:38PM ET
Ether_Snake said:Exxon is still practically at their all time high, the drop has been rather minimal.
Ether_Snake said:Who says everything is rock bottom? Look at some stocks and how they traded over the past 10 years, there have been worst times. We don't know if it's rock bottom yet, or even close.
Ether_Snake said:EDIT3: Markets up!![]()
AstroLad said:I'm probably going to wait to buy until we get to the absolute bottom, that way it's a safe investment b/c there's no way to go but up. imo it's silly and even irresponsible to get in early just to "go along for the ride."
Ether_Snake said:Yeah I'm sure I bought my nvda shares too early, there was at least still some time for more falls. It's tempting to buy more right now, but screw it, better safe than sorry.
AstroLad said:Do you guys actually sell anything short term? I have to keep everything long term (and I can't invest in individual stocks either) or the capital gains (aherm, there's a fond memory of days gone by) would slay me.
Cheesemeister said:I was thinking of selling my NTDOY with the presumably upward spike after the earnings report tonight, but the freaking capital gains tax is making me ponder it further. I was up 40% at one point, but now I'm only at 16%.
Ether_Snake said:I can rarely make a purchase of something above the 25$ range.
ArtG said:Actually, I was going to ask you about that. Why do you do that?
Whatever you invest, it's the same money. You might buy more shares...but you're still investing the same dollars and lose/gain at the same percentage.
EDIT: Might the market prove me wrong? We're up 100 points? What the hell happened? *Goes searching for news*
Ether_Snake said:I don't have the money to invest very long term (like, more than 5 years). I mean if I wanted to do that I'd buy from BA/LMT/ITY/XOM/etc. I can rarely make a purchase of something above the 25$ range. Commissions are expensive too, and I don't buy often.
Ether_Snake said:I think it probably works the same as in the US (I'm in Canada), altho I'm not sure about being taxed less over long term gains.
My 401k contributions are just 100$ a month (plus company contributions). I need to raise it, but not until I get a raise. Plus I don't even know wtf they are being invested into, I knew jack shit back then when I signed the papers and never looked back.
AstroLad said:Yeah, I manage my 401(k) directly. There is a default fund it goes into, but I have all my own allocations that I can change on the fly at any time. I max out my 401k contributions each year for the sweet, sweet tax-free growth.
AstroLad said:You're outside the US right? Basically we get taxed at the regular rate on our short-term profits and at a defined lower rate on LT profits (>1 year), so it's pretty nuts to go for short-term profits unless you're in a really low-income tax bracket.
gkrykewy said:My outlook isn't about a retirement horizon (I have separate retirement savings); it's about wealth building over the next few years.
AstroLad said:I'm the same way; my main focus is retirement savings and 2-5 year savings. Of course, by short-term I mean only profits from <one year holdings. Certainly there are situations where it's advantageous, but for the average investor who's not cash-strapped and who's in a higher tax bracket, but short of trading on inside information those situations are few and far between. The tax on short-term gains is absolutely meant to deter average investors from short-term profit-seeking, and it does a decent job of being a deterrent.
I agree - I suppose it's less of a deterrent to me because I believe we'll be in the 15% bracket (my wife is in graduate school).
Ether_Snake said:I know in Canada we are taxed on 50% of our gains. Gotta check if it is lower with longterm gains.
Doesn't look like it: Currently 50% of capital gains are taxed in Canada at the general rate. (ie $100 CG with 30% tax rate will attract $15 of tax.) Some exceptions apply, such as selling one's primary residence which may be exempt from taxation.[1]
Ether_Snake said:Maybe this: http://www.bloomberg.com/apps/news?pid=20601087&sid=a6I9sOoEkfnU&refer=home
EDIT: BTW the reason I say I can't buy stocks above 25$ is because I don't like buying below 100 shares of a company. The commission is 30$ to buy, 30$ to sell. I rarely aim below a 750$ MINIMUM return.
EDIT2: NM, that makes no sense! WTF have I been doing lol
ArtG said::lol
$30 to buy/sell? Shit. Is that even broker-assisted?
Soka said:I don't care why it's rallying, but I'm fucking happy. Wachovia up 15.23%.
$$$
Ether_Snake said:Nope, just a transaction online. Stupid RBC.