You're right but only in the fact she had kids which she can't afford. I feel the judgement, however, is naive and made at a distance.   The point of the article was although she clearly works her ass off, to the point of working 80 hour weeks, she can't afford basic needs. You can point out she isn't working 80 hours now, she has always at least worked full time. Yet she couldn't support herself and two children..  To me that's a failure on a collective level. It shouldn't be possible. For someone to want to work more than the full 40, and have to choose between rent and food is ridiculous. The only argument to be made for justification of this situation is 'the market'.   The service industry employs a big chunk of the country. If the people whom they employ can't eek out a living then something should be done. Minimum wage has existed for many years now and is not controversial. If a wage can't support a worker, one should support raising that wage.   Should we really immediately say she has kids she can't afford? Should that really be possible for someone who works as hard as the woman portrayed in this article? I don't support sterilization of the poor, and that's the logical conclusion of your accusation. The poor should not have kids, and I presume you feel that we should not support them with taxes. That is another topic, but if one can work more than full time, having kids should not be near impossible to afford. Rather than a type of welfare, let these people earn enough to exist at the very least.


"It totally depends on when your expenses hit and whether you might have a larger stock than necessary. If you run your projections against the monthly save and the intervals of when you'll need the money, you might be able to extract some stock from the account.  I recommend making this a bit simpler. I operate this with an ""annuals"" account which is a complete aggregate of expenses that I know I have several times per year (or once every two years), but are not monthly or part of a weekly non-fixed expense budget cap. Instead of tracking each expense individually and saving for it, create a spreadsheet that lists out all of these expenses, sum them, and then divide by 12. When I first opened this account, I added a one-time deposit to ""catchup"" to make sure I would never need to pull money from another source for these expenses. As new expenses come into existence that I should plan for annually, I simply add them to this list and adjust the monthly auto-deposit to the account. This also adjusts my single number weekly budget.  To make it easy, whenever I see an expense on my annuals list on my amex or debit, I simply initiate a withdrawal from the annuals savings and it will balance out my weekly or monthly budget expenses.  The goal of my annuals account is to simply avoid anti-windfalls that are known quantities (insurance, annual eye exam, sprinkler flush, amazon prime, etc) that would throw a wrench in weekly/monthly budget and expense planning. The more variables you can remove from your weekly/monthly, the more regular it becomes and the more likely you will be able to stick to a budget."


I accept that drivers can be bad and do bad things. I am sorry that happened in your town; it sounds terrible. I also realize that there are ride sharing apps of various kinds.   I still think there is value in a trust network for payment and safety. I don't think your example negates that.


It only matters for purposes of the dependent, so if you are clearly at 50%, then you don't need to calculate this cost.  If it is close to not being 50%, then you will have to allocate between your sister and mother.  To calculate support costs, you can of course include the costs incurred for transportation, per Pub 17 p 34.  If you and your sister have an arrangement where she uses the car and in exchange she shoulders extra costs for your mother, then that's legitimately your expense for your mother (as long as this is a true agreement, then it was money she owed you but paid directly to the vendors and creditors that you would have paid). Note that there is a simpler avenue.  If your sister agrees that you will claim your mother as dependent, and nobody else provides any substantial support (10%+ of costs), then she can just agree that it's you who will claim her.  If you like, such an agreement may be attached to your taxes, possibly using Form 2120.  As a general rule, though, you do not need to use 2120 or any other agreement, nor submit any support calculations.  If your sister verbally agrees that she hasn't and won't claim your mother, then it's unlikely to cause any problems.  Her signed agreement not to claim your mother is merely the most conservative possible documentation strategy, but isn't really necessary.  See Pub 17, p 35 on Multiple Support Agreements for more info.


Ha!  All right ChaosMotor, you seem like the guy with the 'can-do attitude'.  Put something together and start a completely new market to compete with the Dow and the S&P.    I'm sure it can't be too hard, I'm just really busy right now setting up a search engine to compete with Google and Microsoft.


"It's wrong because they committed fraud. If Target committed fraud it would be condemned as well. Now, *if* Target hadn't printed ""one use per customer"" and ""not for use with gift cards"" this would be a completely different situation and I think pretty much everyone would be saying more power to these people."


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> so just imagine what that implies in terms of quality of life.  Money wise sure. You are still missing out on all the things a city has to offer. That's a totally reasonable trade for many people, especially with all that extra disposable income. There is also a reason so many people want to live in a major metro area.


The purpose of a market order is to guarantee that your order gets filled. If you try to place a limit order at the bid or ask, by the time you enter your order the price might have moved and you might need to keep amending your limit order in order to buy or sell, and as such you start chasing the market. A market order will guarantee your order gets executed. Also, an important point to consider, is that market orders are often used in combination with other orders such as conditional orders. For example if you have a stop loss (conditional order) set at say 10% below your buy price, you might want to use a market order to make sure your order gets executed if the price drops 10% and your stop loss gets triggered, making sure that you get out of the stock instead of being stuck with a limit order 10% below your buy price whilst the stock keeps falling further.


I generally concur with your sentiments. mint.com has 'hack me' written all over it.  I know of two major open source tools for accounting: GNUCash and LedgerSMB. I use GNUCash, which comes close to meeting your needs: The 2.4 series introduced SQL DB support; mysql, postgres and sqlite are all supported. I migrated to sqlite to see how the schema looked and ran, the conclusion was that it runs fine but writing direct sql queries is probably beyond me. I may move it to postgres in the future, just so I can write some decent reports. Note that while it uses HTML for reporting, there is no no web frontend. It still requires a client, and is not multi-user safe. But it's probably about the closest to what you what that still falls under the heading of 'personal finance'. A fork of SQL Ledger, this is postgreSQL only but does have a web frontend. All the open source finance webapps I've found are designed for small to medium busineses. I believe it should meet your needs, though I've never used it. It might be overkill and difficult to use for your limited purposes though. I know one or two people in the regional LUG use LedgerSMB, but I really don't need invoicing and paystubs.


Withdraw your savings as cash and stuff them into your mattress? Less flippantly, would the fees for a safe deposit box at a bank big enough to hold CHF 250'000 be less than the negative interest rate that you'd be penalized with if you kept your money in a normal account?


Yes, if somebody puts you in a  multi trillion dollar deficit...yeah, it may take 60+ years to pay it off.   Lets say your spouse racked up a few million in bills....that you are responsible to pay pack...how long do you think the fault will lie?  Also, don't forget to add in lost opportunity costs of not being able to do anything else but pay back bills.


This is not right. Inferring the employee stock pool’s takeaway is not as easy as just taking a fraction of the purchase price. As an example, that wouldn’t account for any preferred returns of other ownership classes, among other things.   All considered though, it’s reasonable to assume that the employee stock pool will get some premium. Best of luck.


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Looks like this settlement is broken down in cash and assistance to homeowners. This usually means BOA can count delinquent mtg debt on homes that are underwater as part of the settlement. Debt they normally would have written off anyway.  Nice thought that they are going after an individual of the firm


"Many companies (particularly tech companies like Atlassian) grant their employees ""share options"" as part of their compensation. A share option is the right to buy a share in the company at a ""strike price"" specified when the option is granted. Typically these ""vest"" after 1-4 years so long as the employee stays with the company. Once they do vest, the employee can exercise them by paying the strike price - typically they'd do that if the shares are now more valuable. The amount they pay to exercise the option goes to the company and will show up in the $2.3 million quoted in the question."


Yes I know.  This has happened before, where they seemed to confirm that a release would relate to one thing, but then it turned out to be about something else.  Unless Elon's Twitter post specifically said it was about the Model 3 in his own words, there is no confirmation.


"Well, I started with ""is shadowstats accurate"" on Google and there's a Wikipedia page with a well established background.   I'm not much into the MSM, but I do see value in the statistics the government reports. Though it seems less of the MSM and more of a bunch of highly degreed people in economics fields who are debating him. But maybe jet fuel can't melt steel beams.   My formal education and experience isn't financial, so I don't know if I'm qualified to speak for it. I think I know more than average person about personal finance, but that's about it.   I can speak for myself, that I am doing well with the markets and my life seems stable and secure. The rest of the country? They're probably 500 dollars away from financial ruin and living paycheck to paycheck. That's what the articles posted here say. It's a shame, if so."


Ah, I am coming from the fund side of things.  The PMs do make some serious coin, but below that, once you factor in commissions, it is just silly.  I actually worked on the compensation model for a certain fund company and I couldn't believe the disparity.  I suppose it depends on how the titles are distributed, perhaps it is a Canadian thing.  The traders title at the other two companies where I worked were entry levelish.  Although they did make about the same as the research analysts if they performed as to plan.


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Thanks to the other answers, I now know what to google for. Frankfurt Stock Exchange: http://en.boerse-frankfurt.de/equities/newissues London Stock Exchange: http://www.londonstockexchange.com/statistics/new-issues-further-issues/new-issues-further-issues.htm


Scary isn't really the right word. I'd say he saw what the market was lacking and could also see what could be a possibility for the future.  It really is amazing how Gates not only revolutionized the industry back in his time but also is able to see what the future itself could also hold.


Are the grey ones the new ones? I like them because they actually do stay together mostly and I can reuse them. They do seem a bit smaller now that I think about it, certain things don't fit super well but it's fine with me. Way better than giant which just has the absolute worst bags. Wegmans are solid though.


Interest per month is 12th root of annual interest, or a multiplier of about 1.0327%. At end of 1st month, you start with $0, add interest on $0, and add $600, getting $600. 2nd month: start with $600, add 0.0327% interest plus $600, getting $1219.62. 3rd: balance plus interest plus deposit yields $1859.50 Repeat ad nauseam. Easier with a spreadsheet or a bit of trivial programming. Or you can try to re-derive the formulas, but that is left as an exercise for the student.


Become genuinely passionate about the subject and the knowledge/experience will guide you.   If you're really desperate to get a position in finance ASAP, i would recommend a financials sales path. Sales is usually the most avoided path, as well as one of the most important skill sets to have. Most people don't even know that the top investment banking positions are sales, lol.....


The next day the market opens trading at 10.50, You haven't specified whether you limit order for $10.10 is to buy or sell. When the trading opens next day, it follows the same process of matching the orders. So if you have put a limit order to buy at $10.10 and there is no sell order at that price, your trade will not go through. If you have placed a limit sell order at $10.10 and there is a buyer at or higher price, it would go through. The Open price is the price of the first trade of the day.


"So this dude actually brought this upon himself. SEC was initiating the usual ""administrative proceedings"" against him when he decided to sue the SEC to try him in a federal court with jury and stuff.   SEC did just that and now he will be convicted with some jail time.   He could've gone home with some fines."


By definition, an IPO'd stock is publicly traded, and you can buy shares if you wish. There's often an excitement on the first day that doesn't carry over to the next days or weeks.  The opening price may be well above the IPO price, depending on that demand.


In addition to JoeTaxpayer's thorough answer, I just want to tackle one particular question that was also asked: ...all employer contributions are pretax? There are a few main reasons that employer contributions go into the traditional bucket instead of the Roth bucket: The only way an employer could logically contribute to your Roth directly would be by increasing your W2 wages by the same amount, but if they did that then you could just contribute to your own Roth with the extra money (up to the annual limit which is currently $18K).


If its deductible, the IRA is a no-brainer. You're netting a positive return just from the tax deduction, and you'll have years of tax-free appreciation. You're already on track to pay off your mortgage in 5 years, the impact of $10,000 on the balance now is not very consequential. On the other hand, you won't have an opportunity to make additional IRA contributions.


I found that the Target Date funds for Vanguard have a lower minimum, only $1,000. They are spaced every 5 years from 2010 to 2060. They are available as: General Account, IRA, UGMA/UTMA and Education Saving Account.


Is Jim right to be worries? Yes, since the statute of limitations for refunds for 2012 is close and he might lose any tax refunds he might be entitled to for that year. Also, the pattern itself may raise some flags of suspicion and trigger audits, both because of such a variance in income and because of the medical expenses (which are generally considered a red flag). So he might get audited. However, if all the income and expenses are properly documented, audit itself should not be a problem.


I'm a finance newb....sorry ahead of time for everyone slamming their heads against the the wall.  I'm going to go ahead and possibly answer my own question. Do I just go back 4 months at a time from their 10K and record the stock price on that date?


The projects are expensive because they are technically challenging.  The point is that BART (an existing public transit system) has no money for infrastructure investments because it's spent on employee benefits (gross salary, overtime, and pension benefits).    Paying a janitor $100k in any locality is ridiculous and that includes the bay area.  A private corporation, such as Facebook doesn't pay their janitors $100k.  They contract the labor out to a company who pays $20/hr and they hire another employee instead of paying 1.5x or 2.0x overtime.


Ignoring taxes, a share repurchase has exactly the same effect on the company and the shareholders' wealth as a cash dividend. In either case, the company is disbursing cash to its shareholders; in the former, in exchange for shares which shareholders happen to be selling on the market at the time; in the latter, equally to all shareholders. For those shareholders who do not happen to be selling their shares, a share repurchase by a company is equivalent to a shareholder's reinvestment of a cash dividend in additional shares of the same company.  The only difference is the total number of shares left outstanding.  Your shares after a share buyback represent ownership of a greater fraction of the company, since in effect the company is buying out other shareholders on your behalf. Theoretically, a share buyback leaves the price of the stock unchanged, whereas a cash dividend tends to reduce the price of the stock by exactly the amount of the dividend, (notwithstanding underlying earnings.)  This is because a share buyback concentrates your ownership in the company, but at the same time, the company as a whole is devalued by the exact amount of cash disbursed to buy back shares. Taxwise, a share buyback generally allows you to treat your share of the company's profits as capital gains---and quite possibly defer taxes on it as long as you own the stock.  You usually have to pay taxes on dividends at the time they are paid.  However, dividends are sometimes seen as instilling discipline in management, because it's a very public and obvious sign of distress for a company to cut its dividend, whereas a share repurchase plan can often be quietly withdrawn without drawing that much attention. A third alternative to a dividend or a share repurchase is for the company to find profitable projects to reinvest its earnings in, and attempt to grow the company as a whole (in the hopes of even greater earnings in the future) rather than distribute current earnings back to shareholders.  (A company may alse use its earnings to pay down or repurchase debt, as well.) As to your second question, the SEC has certain rules that regulate the timing and price of share repurchases on the open market.


DO NOT DO NOT DO NOT DO THAT!!!  What could happen if you lie is that they ask for pay stubs before you get an offer letter.  If you don't have paystubs to back up what you claim to of made you have likely just lost your job.  If they keep you anyway they will be watching you like a hawk because you have proven on the front end that you can't be trusted.  I just went through this very same thing a few months ago and here is how I handled it.  These numbers are made up so not to reveal my real salary, of course.  I was making $2/hr and underpaid at my then company and wanted to make $10 from the new guys.  I knew they wouldn't pay me $10 so I was hoping to make $6.  They also wouldn't pay me $6 put they offered me $5.  $5 was $3 more than I was making before so I gladly took it.    I have a salary I can live with for a few years and I'm in a position to grow with the new company.  Be honest and negotiate.  Be prepared to explain why you think you are worth the money you say you are.  Be reasonable about the situation and don't get greedy.  You are doing good by them showing interest in retaining you in the first place.  Play your cards correctly and professionally and you will do well.  Whatever you do don't lie about anything.  Good luck!!!


Monitoring your credit doesn't do much. There are some vendors that actually have staff to repair your credit/identity. Substantially all of the credit monitoring services do what they say and monitor.  If you have a problem they notify you then point you to the place(s) that you can work with to repair the issue.  This is not terribly valuable, definitely not worth having multiples, but the repair aspect of some IS very valuable.   You sign a limited power of attorney and set loose someone else to fix the problem.


"Many online brokers have a ""virtual"" or ""paper"" trading feature to them.  You can make trades in near-real time with a fake account balance and it will treat it as though you were making the trade at that time.  No need to manage the math yourself - plus, you can even do more complicated trades (One-Cancels-Other/One-Triggers-Other)."


To add to JoeTaxpayer's answer, the cost of providing (term) life insurance for one year increases with the age of the insured. Thus, if you buy a 30-year term policy with level premiums (the premium is the same for 30 years) then, during the earlier years, you pay more than the cost to the insurance company for providing the benefit. In later years, you pay somewhat less than the cost of providing the insurance. The excess premiums that the insurance company charged in earlier years and the earnings from investing that money covers the difference between the premium paid in later years and the true cost of providing the coverage.  If after 20 years you decide that you no longer need the protection (children have grown up and now have jobs etc) and you cancel the policy, you will have overpaid for the protection that you got. The insurance company will not give you backsies on the overpayment. As an alternative, you might want to consider a term life insurance policy in which the premiums increase each year (or increase every 5 years) and thus better approximate the actual cost to the insurance company. One advantage is that you pay less in early life and pay more in later years (when hopefully your income will have increased and you can afford to pay more). Thus, you can get a policy with a larger face value (150K for your wife and 400K for yourself is really quite small) with annual premium of $550 now and more in later years. Also if you decide to cancel the policy after 20 years, you will not have overpaid for the level of coverage provided. Finally, in addition to a policy with larger face value, I recommend that you include the mortgage (if any) on your house in the amount that you decide is enough for your family to live on and to send the kids to college, etc., or get a separate (term life insurance) policy to cover the mortgage on your home. Many mortgage contracts have clauses to the effect that the entire principal owed becomes immediately due if either of the borrowers dies. Yes, the widow or widower can get a replacement mortgage, or prove to the lender that the monthly payments will continue as before, (or pay off the mortgage from that $150K or $400K which will leave a heck of a lot less for the family to survive on) etc., but in the middle of dealing with all the hassles created by a death in the family, this is one headache that can be taken care of now.  The advantage of including the mortgage amount in a single policy that will support the family when you are gone is that you get a bit of a break; the sum of the annual premiums on ten policies for $100K is more than the premiums for a single $1M policy. There is also the consideration that the principal owed on the mortgage declines over the years (very slowly at first, though) and so there will be more money available for living expenses in later years. Alternatively, consider a special term life insurance policy geared towards mortgage coverage. The face value of this policy reduces each year to match the amount still due on the mortgage. Note that you may already have such a policy in place because the lender has insisted on you getting such a policy as a condition for issuing the loan. In this case, keep in mind that not only is the lender the  beneficiary of such a policy, but if you bought the policy through the lender, you are providing extra profit to the lender; you can get a similar policy at lower premiums on the open market than the policy that your lender has so thoughtfully provided you.  I bought mine from a source that caters to employees of nonprofit organizations and public sector employees; your mileage may vary.


"A subsidy is a benefit.  While you're right most of the time it is a crude ""transfer of wealth by the US government"" the formal intent of a subsidy is to assist so as to confer an advantage or mitigate a disadvantage.  If as you say ""discounting the risk premium"" actively by the US government so as to confer, in the words of Ueda and Di Mauro, a ""funding cost advantage [to] SIFIs [of] around 60bp in 2007 and 80bp in 2009"" is not a subsidy, then what is it?"


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Scott Galloway has a lot of interesting ideas about Amazon and how once they reach 20% share in a market segment then the competition is dies off.  https://www.youtube.com/watch?v=n8IOxCUSOWM  https://www.youtube.com/watch?v=-MVKAXcemXc  I don't doubt Amazon's growth, but the PE always seems too high for me. I can't bring myself to buy, but maybe it's good timing to ride it through the retail apocalypse. I can't believe the hype of Prime Day. People are into it.


Jesus Christ dude talk about being entitled. Are you seriously that ignorant of the economic climate we live in? College tuition is increasing exponentially, wages are stagnating, and jobs are going away. The jobs now require higher degrees and more experience while paying less than they did in the previous generations. It is seriously baffling how someone could think the tuition bubble and stagnating job market is completely normal but all the problems are caused by lazy millennial's.


They *love* regulations that benefit them. They are also a big government party which consistently expands the power of the executive every time they are in office. They love big government, just not *your liberal big government* aka one which *forces* states to let people enjoy progressive civil liberties.


"From article:  > Notable in the last example is the point that the choice isn’t so much between competent doctors and incompetent doctors. As in other industries where licensure doesn’t exist, the choice might be between high priced, extremely competent services, and lower priced, still competent services.  I think many poor people would prefer going to a ""second rate"" but still competent physician with a cheaper price rather than going broke with an expensive one. Let's leave that choice up to them rather than forcing our opinion down their throats."


"I would say ""yes"" to your question.  CD's purchased from a bank on your behalf by your broker will be FDIC insured and safe.  However, be aware that no one is examining the broker except you to ensure that each CD is actually purchased from an FDIC insured bank.  Don't trust them blindly. See risks mentioned by the FDIC on the subject Remember, the broker should not originate the CD, so the broker's lack of FDIC protection is irrelevant.  The job of a broker is to buy things on your behalf.  If your broker does that appropriately and sticks with FDIC insured CD's, you will be insured. Given the risks and gotchas mentioned in the link, buying directly from a bank instead of through your broker still sounds like good advice to me but you can make your own decision based on your level of trust and aversion to inconvenience."


We already have been and currently are the guinea pigs, how do you think planes mostly fly themselves now. Once the tech got approved by the FAA as safe it started getting installed into planes. The same will happen with piloting AI.


"Sounds like you only have a vague idea of '08. JPM has always had one of the best balance sheets on the Street.  Personally I thought most of what he said was on point. I think a lot of people are also sick of ""listening to all the shit"" from DC. On both sides"


I find this state hard to believe. We have been adding about 200k jobs a month for a while now.  in the last 12 months that means about 2.4 million new jobs.  Amazon has 113,500 of those that means there was 2.3 million other jobs. for them to have outdone 46 states that means 2.2 M of those would have to be in 4 states alone.


There is No penalty CD at Ally currently at 1.2%. Looks like you can withdraw the money any time. Never used it myself


"https://bills.mint.com ended up having credo in their system but you can't find it if you search from their top bar.  In their current design you need to click ""money"" in the top nav and then search in the box in the middle of the page."


Yes, but then either of you will need the other's permission to sell the car. I strongly recommend you get an agreement on that point, in writing, and possibly reviewed by a lawyer, before entering into this kind of relationship. (See past discussions of car titles and loan cosigners for some examples of how and why this can go wrong.) When doung business with friends, treating it as a serious business transaction is the best way to avoid ruining the friendship.


IIRC it's not a FICO score, as mentioned here, too. That said, apart from borrowing money to optimise your credit score as a hobby, my understanding is that once you're above a FICO score of 750, it pretty much doesn't matter how close to 800 you get.


Here's an article on it that might help: http://thefinancebuff.com/restricted-stock-units-rsu-sales-and.html One of the tricky things is that you probably have the value of the vested shares and withheld taxes already on your W-2. This confuses everyone including the IRS (they sent me one of those audits-by-mail one year, where the issue was they wanted to double-count stock compensation that was on both 1099-B and W-2; a quick letter explaining this and they were happy). The general idea is that when you first irrevocably own the stock (it vests) then that's income, because you're receiving something of value. So this goes on a W-2 and is taxed as income, not capital gains. Conceptually you've just spent however many dollars in income to buy stock, so that's your basis on the stock. For tax paid, if your employer withheld taxes, it should be included in your W-2. In that case you would not separately list it elsewhere.


>Most of their inventory is actually downmarket or discounted white-label merchandise that TJ repackages, rebrands as their own,  If one of my professors was right, he said this was a common business model, although the re-packaged products would be the generic brands, like Target's Up & Up or Walmart's Kroger brand products, and be sold cheaper, instead of what TJ is doing, selling them at a higher price.  Target, for example, does not have their own factories to produce their own, Target-brand toilet paper, cereal, or hand towels. Instead, they just buy merchandise another company makes and repackages the products using their generic, Target-brand packaging.


Once you hit 22% equity against the original value of the home, they have to cancel the PMI. No other factors come into play. See this nice overview. Before that, at the 20% equity mark, it's a negotiating situation. If the value of the house goes down, that's a strong point in their favour. But you have excellent history, that's strong in your favour.


If your ideal world is one where the government keeping companies from maiming and killing people to make a buck is coddling, it is not a world I want to share with you.   There is also a story I can't remember the specifics of and thus can't pull up at 6 AM in the morning, where an American car company knew there were some serious safety flaws in a car after full production had began, and they calculated that the cost of the recall would be greater than that of the inevitable liability lawsuits, so they let people die in order to lose less money. Once word of this plot got out, they eventually got heavily fined by the government for basically being soulless bastards as I recall, but the point is this would be the norm in a world where what you want to happen happens. I would love it if someone could pull up an article so I don't sound crazy.


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Yes.  But the question is do you want to have gold?  If you are going to buy gold anyway, and if you can get a good conversion rate between USD:gold, then why not? If you are looking to use your earnings on things that you cannot buy using gold, then I'd recommend you take USD instead. Have fun!


I'm just saying this doesn't correlate.  Haven't heard of this bank sponsoring gay pride parades. It was probably PR. When I looked it up it seems they made a PAC that donated 50k$ to anti LGBT politicians too. Oops.


I've done a rights offering once. Basically you had to pay money to exercise the right to buy. The offer was far below market rate, so the company was making money, and overall by exercising you ended up in a bit of a better position, even though your original position was diluted.  I'm not really sure what you're asking though. The money does come from the people exercising the right.


I agree that there is no reliable way to buy gold for less than spot, no more than there is for any other commodity. However, you can buy many things below market from motivated sellers. That is why you see so many stores buying gold now.  It  will  be hard to find such sellers now with the saturation of buyers, but if you keep an eye on private sales and auctions you may be able to pick up something others miss.


To build off of this, they also generally have logistics and distribution in place already. When a smaller company makes a product that people can't get enough of, the small company has problems scaling up fast enough.  The big company has scale, the small company has the right product. Put them together, and 1+1=3


"All discount brokers offer a commission structure that is based on the average kind of order that their target audience will make. Different brokers advertise to different target audiences. They could all have a lot lower commissions than they do. The maximum commission price for the order ticket is set at $99 by the industry securities regulators. When discount brokers came along and started offering $2 - $9.99 trades, it was simply because these new companies could be competitive in a place where incumbents were overcharging. The same exists with Robinhood. The market landscape and costs have changed over the last decade with regulation NMS, and other brokerage firms never needed to update drastically because they could continue making a lot on commissions with nobody questioning it. The conclusion being that other brokers can also charge a lot less, despite their other overhead costs. Robinhood, like other brokerage firms (and anyone else trading directly with the exchanges), are paid by the exchanges for adding liquidity. Not only are many trades placed with no commission for the broker, they actually earn money for placing the trade. If Robinhood was doing you any favors, they would be paying you. But nobody questions free commissions so they don't. Robinhood, like other brokerage firms, sells your trading data to the highest bidder. This is called ""payment for order flow"", these subscribers see your order on the internet in route to the exhange, and before your order gets to the exchange, the subscriber sends a different order to the exchange so they either get filled before you do (analogous to front running, but different enough to not be illegal) or they alter the price of the thing you wanted to buy or sell so that you have to get a worse price. These subscribers have faster computers and faster internet access than other market participants, so are able to do this so quickly. They are also burning a lot of venture capital like all startups. You shouldn't place too much faith in the idea they are making [enough] money. They also have plans to earn interest off of balances in a variety of ways and offer more options at a price (like margin accounts)."


"Double digit increase in tax liabilities might not ""break"" a business, but if you already keep less than half of gross profits because of liabilities for tax, insurances, etc, what incentive do you have to continue if in doing so your costs go up even higher?  Do you realize how many retailers have gone out of business because of increased overhead?   Obama said he didn't build it, but he'll sure as shit shut it down or sell the business if there's no incentive to continue.   To use your words its amazing you make such assumptions in such a ""cut-and-dry fashion"" knowing nothing about the actual details of the business except that there is a lot of net revenue and gross profit. GROSS profit, not necessarily net profit."


You have money, free hands and free time, you can make an extremely positive impact on the world.  I would start with a list of causes that you're passionate about. Narrow that down to 3 and then get involved in all of them. I think you should pick the one you like most, but some people can handle all 3.


Log-returns are very commonly used in financial maths, especially quantitative finance.  The important property is that they're symmetrical around 0 with respect to addition. This property makes it possible to talk about an average return. For instance, if a stock goes down 20% over a period of time, it has to gain 25% to be back where you started.  For the log-return on the other hand the numbers are 0.223 down over a period of time, and 0.223 up to get you back to square 1. In this sense, you can simply take an arithmetic average and it makes sense.  You can freely add up or subtract values on the log-return scale, like log-interest rates or log-inflation rates.  Whereas the arithmetic mean of (non-log) returns is simply meaningless: A stock with returns -3% and +3% would have 0% on average, when in fact the stock has declined in price? The correct approach on direct price-returns would be to take a different mean (e.g. geometric) to get a decent average.  And yet it will be hard to incorporate other information, like subtracting the risk-free rate or the inflation rate to get rate-adjusted average returns. In short: Log-returns are easier to handle computationally, esp. in bulk, but non-log-returns are easier to comprehend/imagine as a number of their own.


I don't know much about paypal or bitcoin, but I can provide a little information on BTC(Paypal I thought was just a service for moving real currency).  BTC has an exchange, in which the price of a bitcoin goes up and down. You can invest in to it much like you would invest in the stock market. You can also invest in equipment to mine bitcoins, if you feel like that is worthwhile. It takes quite a bit of research and quite a bit of knowledge. If you are looking to provide loans with interest, I would look into P2P lending. Depending on where you live, you can buy portions of loans, and receive monthly payments with the similiar risk that credit card companies take on(Unsecured debt that can be cleared in bankruptcy). I've thrown a small investment into P2P lending and it has had average returns, although I don't feel like my investment strategy was optimal(took on too many high risk notes, a large portion of which defaulted). I've been doing it for about 8 months, and I've seen an APY of roughly 9%, which again I think is sub-optimal. I think with better investment strategy you could see closer to 12-15%, which could swing heavily with economic downturn. It's hard to say.


Banks do of course incur costs on currency transactions. But they're not as high as the fee charged to the customer. Most banks in most places lose a lot of money on operating bank accounts for customers, and make the money back by charging more than their costs for services like currency exchange. If you don't choose to pay those fees, use an online service instead. But bear in mind that if everyone does so then banks will be forced to charge higher fees for current accounts.


The experience I have with wire transfers is from Australia to the US. These transfers can take up to 5 business dates (i.e. a whole week including the non-business days of the weekend). I would have thought intra-European transfers would be quicker, given how behind most US (regional) banks are in their electronic transfers. However, I don't think you should be worried just yet.


Another, completely different way to look at your huge mistake: It's not a huge mistake. You're getting your money out of a restricted account.  You're paying taxes now (plus an extra tax of 10%) to regain some of your privacy of where you're putting your money. You're paying up now as a trade-off to paying much later, when the rules can be completely different and the tax rates much higher. You're deciding not to put the money into another restricted account, which has yearly reporting requirements to the IRS above and beyond those required with taxable earnings. It's a cost-benefit analysis whether you roll your money over to an IRA account or not.  You hear about the benefits a lot more often than you hear about the costs, which it what I'm introducing you to with my answer.


Are these calculations correct? These are approximate calculations and are with the assumption that entire corpus will be taxed. The assumption was valid as the wording in the budget speech was not very clear. Subsequently the finance ministry has clarified that only interest generated will be taxed and not the contribution. There are no new calculations done with this assumption. Edit: As per communication from finance ministry this proposal is on hold.


I have a hard time giving them a P/E higher than 25 on the absolute top end. Given current numbers, that takes another ~60% off their share price putting them right around $10. Now... that's my top end estimate, I'd probably be willing to buy right around $8.  In order to support the IPO price, the models I've seen come in at projecting an average growth rate of 40% YoY for the next 5 years. If FB pulled that off, they'd be growing ~5X over the next 5 years (once compounded). As it stands, they've got 900B+ users. Doubling that would require a significant number of new people to start coming on line - 5x that would be impossible.  So... next option... They figure out how to monetize existing users/traffic better. It's possible - they don't do a very good job with this as it stands, but they've got a fine line to walk. They need to pull it off without driving users, or advertisers, away.  Suppose they were able to double their user base. They'd still need to do ~2.5x better per user to make the numbers. This doesn't take into account that the next billion users are significantly less valuable as an audience than the first billion. (Not in human terms, but in financial/marketing terms.)  I'm willing to give them a 20% growth rate for the next 5 years. That'd put them at a bit better than 2.5x over that time. It's still a stretch. That should put them in the same P/E range as GOOG (currently trading at a P/E of 17ish).  Any price higher than $10/share at this point is gambling on their ability to crack monetization. The higher you go, the higher you think the odds are.  One last thing I'd keep in mind. Most of the early employees with options are locked out of selling for the first 6 months after the IPO. There's a fairly large number of shares that will become available when that time is up. I'm curious to see how many of the early employees call in rich and go start new companies. (Think about what happened to paypal after being sold to ebay - yelp, youtube, and others all came out of the early employees.) I'd be watching the quarterly reports through the quarter ending 12/31. The numbers at that point will give a better gauge of a proper valuation. I absolutely wouldn't hold shares of FB during the period when employees first have their chance to cash their lottery tickets.


One of my least favorite parts of mcdonalds is the way the kitchen looks. I hate that all of the machines just look so strange. So many odd looking stainless steel chutes and slides, and sick looking yellow trays that keep getting getting pulled out with meat and put back in.  And the noise coming out of the kitchen is so bizarre. It sounds like a Friday night in the ICU. Machines blinking and alarms blaring out. What the hell is going on? It seems like going to the food factory instead of a restaurant.  One thing I never see is a grill or any other normal kitchen appliance type thing, except for the fryer. That said I do have a burger and some nuggets once in a while but every time it seems a bit surreal. I wish they would make the kitchen at least seem appealing.


1031 is a section of the U.S. Internal Revenue Service Code that allows investors to defer capital gains taxes on any exchange of like-kind properties for business or investment purposes. Taxes on capital gains are not charged on the sale of a property if the money is being used to purchase another property - the payment of tax is deferred until property is sold with no re-investment.


"I assume that mutual funds are being discussed here. As Bryce says, open-ended funds are bought from the mutual fund company and redeemed from the fund company.  Except in very rare circumstances,  they exist only  as bits in the fund company's computers and not as share certificates (whether paper or electronic) that can be delivered from the selling broker to the buying broker on a stock exchange. Effectively, the fund company is the sole market maker: if you want to buy, ask the fund company at what price it will sell them to you (and it will tell you the answer only after 4 pm that day when a sale at that price is no longer possible unless you committed to buy, say, 100 shares and authorized the fund company to withdraw the correct amount from your bank account or other liquid asset after the price was known).  Ditto if you want to sell: the mutual fund company will tell you what price it will give you only after 4 pm that day and you cannot sell at that price unless you had committed to accept whatever the company was going to give you for your shares (or had said ""Send me $1000 and sell as many shares of mine as are needed to give me proceeds of $1000 cash."")"


"I agree completely.  ""I don't always agree with John Cochrane, but when I do, I agree completely.""  I think heavy reliance on either approach to pricing is generally a bad idea.  Equilibrium models always include something that you're supposed to inherently know, but never do.  No-arbitrage models don't necessarily *say* anything that you don't (in some mathematical sense) already know.  So you're either stuck with unknown parameters, or you can't explain why you're something is worth what you say it is beyond, ""Herp derp, other people are doing it.""  So I think if buy-side people made some use of no-arbitrage models, they'd have a better understanding of the parameters they're making up, and if sell-side people sometimes used equilibrium models, they'd have a better grasp of what's going on economically.  Also, it would have the beneficial effect of reminding people that their models are always wrong, even if they're frequently useful."


Reading that fallacy: it says that the money could have been spent elsewhere rather than here to possibly greater benefit. In this case it's the full tax revenue that the state declined to take (which is he tax break). So I don't really see the point when that revenue will possibly not even exist.


"I can't find a decent duplicate, so here are some general guidelines: First of all by ""stocks"" the answers generally mean ""equities"" which could be either single stocks or mutual funds that consist of stocks. Unless you have lots of experience that can help you discern good stocks from bad, investing in mutual funds reduces the risk considerably. If you want to fine-tune the plan, you can weigh certain categories higher to change your risk/return profile (e.g. equity funds will have higher returns and risk than fixed income (bond) funds, so if you want to take a little more risk you can put more in equity funds and less in fixed income funds). Lastly, don't stress too much over the individual investments.  The most important thing is that you get as much company match as you can.  You cannot beat the 100% return that comes from a company match. The allocation is mostly insignificant compared to that.  Plus you can probably change your allocation later easily and cheaply if you don't like it. Disclaimer:  these are _general_ guidelines for 401(k) investing in general and not personal advice."


You are right, there is a lot to be said for Europe right now: that they have been delusional for decades, and that now it has finally caught up to them. Why on earth would we want to emulate a continent that has had economic problems so massive they have led to riots? Is your solution really to force broke people to take vacations? How will that lead to economic prosperity?


"Until you get some financial education, you will be vulnerable to people wanting your money.  Once you are educated, you will be able to live a tidy life off this-- which is exactly why this amount was awarded to you, rather than some other amount.    They gave you enough money.  This is not a lottery win.  I mean ""financial counselors"" who will want to help you with strategies to invest your money.  Every one will promise your money will grow.   The latter case describes every full-service broker, e.g. what will happen if you walk into EdwardJones.  This industry has a long tradition of charmingly selling investments which significantly underperform the market, and making their money by kickbacks (sales commissions) from those investments (which is why they significantly underperform.)   They also offer products which are unnecessarily complex meant to confuse customers and hide fees. One mark of trouble is ""early exit"" fees, which they need to recoup the sales commission they already paid out.  Unfortunately, one of those people is you.  You are treating this like a windfall, falling into old, often-repeated cliché of ""lottery-win thinking"".  ""Gosh, there's so much money there, what could go wrong?""  This always ends in disaster and destitution, on top of your other woes.  It's not a windfall.  They gave you just enough money to live on - barely. Because these lawyers and judges do this all day every day, and they know exactly how much capital will replace a lifelong salary, and if anything you got cheated a bit.  Read on.   You don't want to feel like greedy Scrooge, hoarding every penny.  I get that.  But generous spending won't fix that.  What will is financial education, and once you have real understanding and certainty about your financial situation, you will be able to both provide for yourself and be giving in a sensible manner.   This stuff isn't taught in school.  If it was, there'd be a lot more millionaires, because wealth isn't about luck, it's about intelligent management of money.  Good advisers do exist. They're hard to find.  Good advisors work only one way: for a flat rate or hourly fee.  This is called a ""Fee-only advisor"".  S/he never takes commissions.  Beware of brokers who normally work on commission but will happily take an upfront fee.  Even if they promise to hand you their commission check, they're still recommending you into the same sub-par investments because that's their training! I get the world of finance is extremely confusing and it's hard to know where to start.  Just make one leap of faith with me: You can learn this.  One place it's not confusing: University endowments.  They get windfalls just like you, and they need to manage it to support them for a very long time, just like you.  Endowments are very closely watched by the smartest people in finance -- no lottery fever here. It's agreed by all that there is one best way to invest an endowment.  And it's mandatory by law.  An endowment is a chunk of money (say, $1.2 million) that must fund a purpose (say, a math professorship or ""chair"") in perpetuity.  You're not planning to live quite that long, but when you're in your 20's, the investment strategy is the same.  The endowment is designed to generate income of some amount, on average, over the long term.  You can draw from the endowment even in ""down years"".  The rule of thumb is 4-6% is a sustainable rate that won't overtax the endowment (usually, but you have to keep an eye on it). On $1.2M, that's $48,000 to $72,000 per year.  Not half bad.  See, I told you it could work.  Read Jane Austen?  Mister Darcy, referred to as a gentleman of 10,000 pounds -- meaning his assets were many times that, but they yield income of £10,000 a year.  Same idea.  Keep in mind that you need to pay taxes. But if you plan your investments so you're holding them more than a year, you're in the much lower 0-10-15% capital gains tax bracket.  So, here's where I'd like you to go.   I would say more, but this will give you quite an education by itself.  Say you gave all your money to me.  And said ""Your nonprofit needs an executive director. Fund it. In perpetuity.""  I'd say ""Thank you"", ""you're right"", and I'd create an endowment and invest it about like this.  That is fairly close to the standard mix you'll find in most endowments, because that is what's considered ""prudent"" under endowment law (UPMIFA). I'd carry all that in a Vanguard or Fidelity account and follow Bogle's advice on limiting fees.  That said, dollar-cost-averaging is not a suicide pact, and bonds are ugly right now (for reason Suze Orman describes) and real estate seems really bubbly right now... so I'd back out of those for now.   I'd aim to draw about $60k/year out of it or 5%, and on average, in the very long term, the capital should grow. I would adjust it downward somewhat if the next few years are a hard recession, to avoid taking too much out of the capital... and resist the urge to take more out in boom years, because that is your hedge against the next recession. Over 7% is not prudent per the law (absent very reasonable reasons). UPMIFA doesn't apply to you, but I'd act as if it did.  A very reasonable reason to take more than 7% would be to shift investment into a house for living in.  I would aim for a duplex/triplex to also have income from the property, if the numbers made sense, which they often don't in California, but that's another question.  At your financial level -- never, never, never give cash to a charity.  You will get marked as a ""soft target"" and every commercial fundraiser on earth will stalk you for the rest of your life. At your level, you open a Donor Advised Fund, and let the Fund do your giving for you.  Once you've funded it (which is tax deductible) you later tell them which charities to fund when.  They screen out fake charities and protect your identity. I discuss DAFs at length here.  Now when ""charities"" harass you for an immediate handout, just tell them that's not how you support charities."


How is this Obama's fault? Also, it doesn't mean the economy isn't recovering. I love how Republicans complain he hasn't fixed the massive problem caused by them fast enough. It's like lighting your house on fire and blaming the firefighters for not putting it out fast enough.


"You are the troll. The simple true story here, not reported by fake-news mass media, is that Trump does not give those business leaders what they want and does not cave-in to their lobbying, so they leave.  Trump see what those ""councils"" are all about and dismantle them."


Of course credit cards are viewed as credit. If you're using money on a credit card, you are not directly paying for your transactions on goods/services immediately: this is the act of borrowing credit to pay for them. Debit cards, on the other hand, work where the funds are taken from an account immediately (or subject to a small delay - but usually no more than 24 hours - depending on various factors). You should never miss credit card payments, as that will affect your credit rating. If you have unpaid money on your card this is debt - plain and simple. But to answer your question succinctly - yes, credit cards are a form of credit, as the name suggests. When you apply for a mortgage any unpaid credit (debt) is considered and would adversely affect you if you have such debts. The level to which it affects you depends on the amount of debt. This is how it works in the UK, but to my knowledge it is the same in the US and most other countries. Please clarify if you think this is incorrect.


Shit article that displays the author has no farming idea of how Warren Buffet operates.    The man has metrics that tell him when shares are too expensive. When this happens, he doesn't buy, and dividends can tend to accumulate when you have almost $500 billion in assets (which could just be 2 years of 5% dividend yields).   If they are expensive, he won't buy, and money will accumulate. When there is a crash, he buys on the cheap. That how you get 23% of Year-on-year gains for 40 years.   The fact that he is not buying does indicate that the market is overvalued, which is consistent with the fact that there is still a substantial amount of QE. The question is: what will happen as the Fed winds it down. They are aiming for a small decrease or leveling out of the stock market. If that happens, and the market stagnates for a couple of years, maybe the metrics will catch up and he will buy again without a crash happening.


You will maximize your expected wealth by investing all the money you intend to invest, as soon as you have it available. Don't let the mythos of dollar cost averaging induce you to allocate more much money to a savings account than is optimal.  If you want the positive expected return of the market, don't put your money in a savings account.  That's especially true now, when you are certainly earning a negative real interest rate on your savings account. Dollar cost averaging and putting all your money in at the beginning would have the same expected return except that if you put all your money in earlier, it spends more time in the market, so your expected return is higher.  Your volatility is also higher (because your savings account would have very low volatility) but your preference for investment tells me that you view the expected return and volatility tradeoff of the stock market as acceptable. If you need something to help you feel less stress about investing right away, think of it as dollar cost averaging on a yearly basis instead of monthly.  Further, you take take comfort in knowing that you have allocated your wealth as you can instead of letting it fizzle away in real terms in a bank account.


Well, I know why the Rabobank in the Netherlands does it. I can go back around one year and a half with my internet banking. But I can only go further back (upto 7 years) after contacting the bank and paying €5,- per transcript (one transcript holds around a month of activities).  I needed a year worth of transcripts for my taxes and had to cough up more than €50. EDIT It seems they recently changed their policy in a way that you can request as many transcripts as you like for a maximum cost of €25,- so the trend to easier access is visible.


529 Plans must be sponsored by a state.  There are sometimes several plans sponsored by a state, but the trick is picking the plan with the lowest costs, just like any investment account. Clark Howard has a nice guide and recommendations for picking 529 plans.  If you live in a state on his honor roll, invest in that state plan for extra tax benefits.  If you don't, invest in one of his dean's list plans. You may invest in any plan from any state you like.  You can buy the plan directly without the expense of a broker.  Put the plan in your name and name the student as a beneficiary, do NOT put the plan in the student's name.  This will help out when it comes time to apply for financial aid.


Burger.   King.   Fans.  What the fuck. I thought people only ate that garbage out of desperation of sheer laziness. I never would have guessed anyone actually considered themselves a fan, much less had anything less than mild queasiness.


"According to this discussion, there was a Tax Court ruling that likened deductibility for charitable giving by credit card to business expenses incurred by businesses operating under cash-basis accounting.  (The point is made by Larry Hess on that site.) Short answer: According to this argument, you can claim the deduction when the charge is incurred.  You don't have to wait until you pay it back.  (Again this is for cash basis.) Publication 538 states that ""under the cash method of accounting, you generally deduct business expenses in the tax year you pay them.""  I think the ruling above was meant to clarify when the expense is ""paid"".  In my totally unofficial opinion, I suppose this makes sense.  If I go to Office Depot to buy a box of envelopes, I walk out with the envelopes at the same time regardless of whether I paid cash or swiped a credit card.  I wouldn't walk out thinking: ""HA!  I haven't actually paid for these yet.""  If the shoplifting alarm went off at the door and I was asked if I had bought those, I'd say yes, right? If this doesn't convince you, you can always get professional tax advice."


"It's scary how unaware many people are of these ""tricks"" and it seems with technology this is going to become worse.  That said, I don't agree we can assume a government will be the solution other than necessary slow down due to bureaucracy. We need something else, perhaps new. Whatever it is, it needs to have the right incentives."


It's secret so that it can't be torpedoed by politics while in the negotiation process. It has to be voted on by Congress before it can become law, at that point every word of the agreement will be public and available for everybody.   The idea is that they can negotiate in good faith without taking political flak at home that prevents any real deal from being reached. Once the agreement is finalized, then Congress and the public will have the opportunity to review the agreement in full before it becomes law. This is standard procedure for complex trade deals.


You could use Bitcoin. Bitcoin is THE fee-killer. I haven't used US and China exchanges, but you can connect your US bank account to Coinbase, buy bitcoins, transfer to BTCChina, and sell for CNY. There are many other options to convert from and to Bitcoins, but Coinbase seems to be most practical and most widely used in the US and BTCChina is the largest and probably most trusted exchange in China. You can also use LocalBitocoins for both buying and selling, but people on LocalBitcoins typically charge larger fees than exchanges, though this may vary. Please read a bit about Bitcoin before using it, and be aware of the risks. It's still very new (but revolutionary and very easy and fast to move internationally). Try with a small amount first to check it out. Your electronic wallet can be stolen, and you're exposed to certain risks of exchanges shutting down or government/banks stepping over their boundaries. One nice thing is that you probably won't be affected by volatility as you won't be holding bitcoins for long. Also be aware that the Chinese don't like capital leaving China and there is a possibility that China government will introduce further regulations on exchanges (though they have stated that buying, selling and owning bitcoins is legal). You're doing the opposite, importing money into China, but you'll probably feel it in one way or the other. P.S. Approximate fast fee calculation: Coinbase has 1% transaction fee + $0.15 bank fee. Bitcoin transfer is free or in some cases with minimal 0.0001 BTC fee (a bit less than $0.01 currently). BTCChina has 0.3% trading fee and 0.5% CNY withdrawal fee. As you can see, the main fees are exchange fees, but still less than 3% and if you find a good exchange combination with low fees you're golden, or might even make money on transaction if BTC price rises. Also check this Reddit thread - there are alternative China exchanges with lower fees. P.P.S. Found this blog post, maybe a bit outdated, but probably with better calculation than mine as it takes into account exchange prices.


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"As a car guy, I wouldn't spend 27 large on anything that wasn't ""special"" - you'll be looking at for at least the duration of the loan and for me it'll better be very special lest I get bored with it during that time. But that's just me. If you want a transport appliance - spend around $5k-$7k on a decent used vehicle, pay it off within a couple of years or less and keep throwing money at your downpayment. Now if you have any student loan debt, buy a $3k car, learn how to fix it if necessary and pay off the millstone, err, student loan ASAP."


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The instructions for Form W-7 include a table of exceptions to the requirement to attach a tax return.  It looks like you might fall under Exemption 2a, but I don't think there's quite enough information in your question to be sure. The current instructions are here: https://www.irs.gov/pub/irs-pdf/iw7.pdf The table of exceptions runs from page 7 to page 9, so I won't try to reproduce it here.


No, you don't have to have the money deducted from your paycheck. The IRS doesn't get a copy of your paycheck anyway. When you file your annual tax return (form 1040), there's a line there to write down the amount you contributed to the IRA. In fact, you can contribute to the IRA after the year ended, until the Tax Day of the next year, so that you can make sure your contribution will actually be deductible (not always they are). The IRA custodian (the brokerage firm/bank where you opened the IRA account) will provide you with a deposit confirmation and form 5498. A copy of form 5948 is also sent to the IRS.


The US Gov't spends $0.9T on the military, they borrow $1.9T (on top of the $2.3-$2.4T they raise in taxes each year)... so, no.  Should we cut military spending? Yes, absolutely. But it won't come close to closing the deficit.


Mutual Funds are relatively evaluated and this is likely what you want.  Your answer is likely the information ratio.  If your interested, Active Portfolio Management by Grinold, Kahn is probably a good book to read.  That  being said, hedge funds will generally have absolute mandates and will be more likely to use a sharpe ratio.


"...instead of all of us draining our money into a landlord... Instead, you are suggesting that still everyone (except you) will drain their money into a landlord, just that now the landlord is you.  I guess what that really means is that you will need to have landlord tenant agreements between you and your roommates. When things break or need replacing you'll have to foot the bill and as your tenants, your ""roomies"" might not be too forgiving when things need fixing. When the fridge breaks down, you'll have to buy a new one immediately. Yard work is your sole responsibility, unless you offer discounted rent or other perks. What about service bills: energy, water, sewage, internet, television, etc?"


Market cap should be share price times number of shares, right? That's several orders of magnitude right there...


Ohhhh. Well thank you for that info. I know I could've Googled it all and while I'm a sticker for doing your own research, it's nice to hear it from someone in the know. Gotta pass on knowledge to those who don't know. Is it cheap to buy an ETF?


This is the worst part as far as I'm concerned. I fault Congress, not Apple, for failing to halt expatriation; but the fact that all of that capital is parked in cash equivalents while the national and works economy recovers is unceasingly painful. Imagine if $117B of found capital went into munis, what effect that would have. Pipe dream, though.


People need money, and any money is better than no money. Wal-Mart will hire desperate people, because those desperate people are less likely to complain or have pro-Union sentiments.  The point of the article is to show that while WM employs a lot of people, they pay them so little that they are forced to use government aid.  Wal-Mart is transferring the cost of labor onto the taxpayers. This should make you upset.


I am actively against uber and would love to send some info to other people as well but that list is ridiculous. One of the items near the top is the fact that the service tracks your pickup and drop-off location. That will make 99% of every day people stop reading immediately. That is the entire point of the service. There are hundreds of other real reasons to not use them. Stallman is great but this article is no good for the vast majority of uber users.


"This is the best tl;dr I could make, [original](https://www.bloomberg.com/news/articles/2017-10-16/a-crazy-stock-market-is-punishing-sellers) reduced by 92%. (I'm a bot) ***** > Even Richard Thaler, who won a Nobel Prize last week for explaining how irrationality drives financial markets, said on Bloomberg Television he couldn&#039;t understand why stocks keep going up now.  > Almost as quickly, the markets roared back and jolted investors out of their crisis-era fatalism.  > The hazards of market timing were illustrated by a Bank of America Corp. study last year, which showed that missing the very end of a bull market often means missing a quarter of its gains.   ***** [**Extended Summary**](http://np.reddit.com/r/autotldr/comments/76t6ni/a_crazy_stock_market_is_punishing_sellers/) | [FAQ](http://np.reddit.com/r/autotldr/comments/31b9fm/faq_autotldr_bot/ ""Version 1.65, ~229377 tl;drs so far."") | [Feedback](http://np.reddit.com/message/compose?to=%23autotldr ""PM's and comments are monitored, constructive feedback is welcome."") | *Top* *keywords*: **market**^#1 **investor**^#2 **More**^#3 **stock**^#4 **new**^#5"


What is a good resource to learn about options trading strategies? Options are a quite advanced investment form, and you'd do well to learn a lot about them before attempting to dive into this fairly illiquid market. Yale's online course in financial markets covers the Options Market and is a good starting point to make sure you've got all the basics. You may be familiar with most of it, but it's a decent refresher on lingo and Black-Scholes. How can I use options to establish some cash flow from long standing investments while minimizing capital gains expenses? This question seems designed to get people to talk about covered calls. Essentially, you sell call contracts: you let people buy things you already have at a price in the future, at their whim. They pay you for this option, though usually not much if the options aren't in the money. You can think of this as trading any return above the call option for a bit of extra cash.  I don't invest with taxable accounts, but there are significant tax consequences for options. Because they expire, there will be turnover in your portfolio, and up front income when you take the sell side. So if you trade in options with close expiration dates, you'll probably end up with a lot of short-term capital gains, which are treated as normal income. One strategy is to trade in broad-based stock index options, which have favorable tax treatments. Some people have abused this though to disguise normal income as capital gains, so it could go away. Obviously the easy approach is to just use a tax advantaged account for options trading. An ETF might also be able to handle the turnover on your behalf, for example VIX is a series of options on S&P500 options. A second strategy I've heard of is buying calls and puts at a given strike price. For example, if you bought Dec '13 calls and puts on SPX @ 115 today, it would cost you about $35 dollars. If the price moves more than 35 dollars away from 115 by DEC '13 (in either direction), you've made a profit. If you reflect on that for a bit, you'll see why VIX is considered a volatility index. I guess I should mention that shorting a stock and buying a put option at the market price are very similar, with the exception that your loss is limited to the price of the option.  Is there ever an instance where options investing is not speculative? The term 'speculative' is not well defined. For many people, the answer is no. It's very easy to just buy put options and wait for prices to fall, or call options and wait for prices to rise. Moreover, the second strategy above essentially gives you similar performance to a stock without paying full price. These all fall under the headline of increasing a risk portfolio rather than decreasing it, which I figure is a decent definition of speculation. On the other hand, there are ways to use options minimize risk rather than increase it. You can buy underwater options as portfolio insurance, if your portfolio drops below a certain amount, you still have the right to sell it at a higher one. And the Case-Schiller index is run in part, on the hopes that one day there might be a thriving market for real estate options (or futures). When you buy a home or lend money to someone to buy one, you could buy regional Case-Schiller options to protect you if the regional market tanks. But in all of these cases, it's required for someone else to take the opposite trade. Risk isn't reduced, it's traded around. So technically, there is a speculative element to these as well. I think the proper question here is whether speculation is present, but whether speculation can be put to good ends. Without speculators, the already very thin market for options would shrivel faster.


"The odd thing about primary school education (that I hear from talking to teachers) is that the materials used in the classroom are all bought under some sort of district wide (or even state wide, in the case of texas) decision for which program to use. For reading they generally include a set of books (or single book) with a sequence of things to be taught. Teacher's who've been teaching for a long time will know which series has useful properties for teaching the material. They might refer to them by names, but it really just comes down to a set of materials and sequence of introducing material. When one teacher says to another ""I used $X to supplement the required $Y"" it'd be like a software engineer saying ""I used a hash map instead of a map for that case because it had better performance for the use case"" - there's a fair amount of baggage in the statement, but another software engineer would understand the differences and know what tradeoffs were being made.  As to the ""Master's in Reading"" - there's a lot of goofy degrees offered through the Education departments at state schools. A large part of it is because the union pay scales include things like education level. They tend to be equivalent to any terminal masters program you'd find in other subjects - including MBA. ""Take these classes - part time and summers over the next 3 years, and if you pass them all, we give you a piece of paper that says ""Masters of Education - Reading"" or similar. It comes down to something like 45 credit hours with a focus on something.  > Basically he/she just wants to ""work a program"" (by a semi-mindless rote) and is really only pissed because the programs keep being changed on them.  I actually doubt that. It's going to come down to the sets of materials they have available for teaching. Some work, some don't. The structure of the system discourages improvisation, unfortunately, and the teachers often feel that they have their hands tied."


"Step one: Contact the collection agency. Tell them that they have the wrong person, and the same name is just a coincidence. I would NOT give them my correct social security number, birth date, or other identifying information. This could be a total scam for the purpose of getting you to give them such personal identifying information so they can perform an identity theft. Even if it is a legitimate debt collection agency, if they are overzealous and/or incompetent, they may enter your identifying information into their records. ""Oh, you say your social security number isn't 123-45-6789, but 234-56-7890. Thank you, let me update our records. Now, sir, I see that the social security number in our records matches your social security number ..."" Step two: If they don't back off, contact a lawyer. Collection agencies work by -- call it ""intimidation"" or ""moral persuasion"", depending on your viewpoint. Years after my wife left me, she went bankrupt. A collection agency called me demanding payment of her debts before the bankruptcy went through. I noticed two things about this: One, We were divorced and I had no responsibility for her debts. Somehow they tracked down my new address and phone number, a place where she had never even lived. Why should I pay her debts? I had no legal obligation, nor did I see any moral obligation. Two, Their pitch was that she/I should pay off this debt before the bankruptcy was final. Why would anyone do that? The whole point of declaring bankruptcy is so you don't have to pay these debts. They were hoping to intimidate her into paying even though she wouldn't be legally obligated to pay. If you don't owe the money, of course there's no reason why you should pay it. If they continue to pursue you for somebody else's debt, in the U.S. you can sue them for harassment. There are all sorts of legal limits on what collection agencies are allowed to do. Actually even if they do back off, it might be worth contacting a lawyer. I suspect that asking your employer to garnish your wages without a court order, without even proof that you are responsible for this debt, is a tort that you could sue them for."


Yes, it should be. As, where one has insurance, its an expense one would expect one to continue to incur in a normal budgetary emergency, even drop in the extreme.


Well, the author *could* be right, but not necessarily for the reasons cited.    Several states, including California and Nevada, recently changed their laws to slow down the foreclosure process and protect borrowers.  It took lenders/servicers awhile to figure out how to work within the new legal structure, so foreclosure starts fell during that time.  Now they've got it figured out, so filings went up.  It doesn't mean the sky is falling.  If the economy keeps improving, that will temper potential defaults due to, well, unemployment and HELOC expirations causing higher mortgage payments.    There's not a lot of available inventory right now (investors have been converting short sale and foreclosed properties to rentals) so there is some pent-up demand.  If credit availability is increased by the FICO score reducing the hit for lates and defaults on medical expenses, more people will be eligible to buy a house and that will reduce foreclosure rates.    There's a lot of moving parts here, and this story only focused on a small section so take it with a grain of salt.  And remember:  if the author could really predict the future, he wouldn't be making a living as a writer for the New Republic.  edit: for clarity


As @littleadv and @DumbCoder point out in their comments above, Bloomberg Terminal is expensive for individual investors.  If you are looking for a free solution I would recommend Yahoo and Google Finance. On the other side, if you need more financial metrics regarding historic statements and consensus estimates, you should look at the iPad solution from Worldcap, which is not free, but significantly cheaper then Bloomberg and Reuters. Disclosure: I am affiliated with WorldCap.


Suppose you're writing a put with a strike price of 80. Say the share's(underlying asset) price goes down to 70. So the holder of the put will exercise the option. Ie he has a 'right to sell' a share worth 70 for rs 80. Whereas a put option writer has an 'obligation to buy' at rs 80 a share trading at rs 70. Always think from the perspective of the holder. If the holder exercises the option, the writer will suffer a loss. Maximum loss he suffers will be the break even FSP, which is Strike price reduced by the premium paid.. If he doesn't exercise the option the writer will make a profit, which can maximum be the put premium received.


There is a mathematical way to determine the answer, if you know all the variables. (And that's a big if.) For example, suppose you rent for 4 years and the price of rent never increases. The total amount you will have paid is: 600*48 = 28,800. If you currently have money sitting in the bank earning only a negligible amount of interest, and you can purchase the house for X, and then sell it for exactly what you paid 4 years from now, and you have 0 expenses otherwise, then purchasing it will save you 28,800 compared to renting. Obviously that makes some assumptions which are not possible. Now you need to calculate the variables: All of these variables can drastically effect the profit margin, and unfortunately they will vary greatly depending on your country, location, and the condition of the home. Once you estimate each of the variables, it's important to realize that if you purchase, your profit or loss can swing unexpectedly in either direction based on appreciation/depreciation which can be difficult to predict, in part because it is somewhat tied to the overall macro-economy of where you live (state or country). On the flip side, if you rent, it's pretty easy to calculate your cost as approximately 28,800 over 4 years. (Perhaps slightly more for modest rent increases.) Lastly, if you elect to purchase the house, realize that you're investing that money in real estate. You could just as easily rent and invest that money elsewhere, if you want to choose a more aggressive or conservative investment with your money.


You start taking on some big risks when go to absolute zero. Unlike your plane analogy, you don't have to fly or not fly - you can opt to take a safer hybrid form of transit. Or to extend the analogy: now you're driving or walking instead of flying, which, per mile traveled, is statistically more risky, even if the plane 'feels' and 'looks' riskier.  Consider reading up a bit on the risks of all-cash/bonds (including: shortfall and inflation). Yes, real estate is a hedge, but most of your portfolio is still exposed to inflation. Why not also buy some Treasury Inflation-Protected Securities via a bond fund? Why not put 25% in the stock market to help do well when the markets do well?  I think if you do some reading on this you'll find yourself shocked at the risks of being all-cash. FWIW, I'm a relatively conservative voice on investing subreddits - the guy who is usually saying 'hey be sure to keep some bonds!.' So I'm all about a safe/balanced portfolio, but tilt too far in either direction and you take on more risk, not less.  You mentioned a pension and real estate. Those are presumably good inflation hedges and relatively stable holdings. The pension especially suggests you can take more stock risk, since you have that stable, bond-like holding.  The weirdest thing to me is that you would be 'all in' during the good times. If you're this risk adverse when you see warning signs, I'm curious: were you 100% stocks before? Totally on/off like that seems kinda intense.


This is obviously hearsay because I can't remember the sources at all, but I recall hearing that at that company's chains, they also would take the credit card fee out of the worker's tips. so if you used a card and there's a 2.5% fee, they'd take that amount out of your waiter's tips.  Isn't that nice?  Random citations that make it less hearsay:  http://blog.cleveland.com/pdextra/2008/09/some_restaurant_owners_say_its.html   http://blogs.citypages.com/food/2011/10/parasole_restaurants_dipping_into_tip_jar_taking_2_of_wait_staffs_credit_card_tips.php   http://www.tip20.com/restaurant-chain-drops-plan-taking-credit-card-fees-out-of-tips/38  >The tip plan, first reported by the Arkansas Democrat-Gazette, called for passing along part of the debit and credit card fees — about 3 percent of tips on average. That would have meant a waiter would collect $19.40 out of a $20 tip.  http://www.care2.com/causes/restaurant-chain-takes-banking-fees.html   http://restaurants.about.com/b/2008/01/29/employer-takes-servers-tip-money-to-pay-for-credit-card-fees.htm


No, but I will check it out. It's always wise to pay attention to what others think. But to me there are just too many issues, any one of which could cause major problems.   I left off a big one. We are statistically overdue for a recession. That alone can cause one.


The organization gives the best Corporation enlistment administrations.  You can discover numerous associations that assistance in applying any sort of Business Organization or even a Delaware LLC and Same day company formation on the web, and all it demands from the customer is to finish a shape on their web page. The claim on their web page says that you can incorporate online in a few minutes, and you will get the exchange check inside 24 hours.


"Tears of joy.  This has been great for the GoP.  I love watching him do the exact opposite of his promises and the total ineptitude at passing any meaningful legislation.  Then listen to his fans cover their ears and shout ""ha ha, we won you lost"".      What exactly do you think you've won?  That's hilarious to me."


Ah, then we have fundamentally opposed views. I think there is a common leadership skill that one can develop. A skill that entails communicating with stakeholders, negotiating goals, developing a strategy, and leading an organization to accomplish said goals.  You do not think this is its own skill?


"Right. My wife and I were talking about it and she asked me, ""Dave, do you think that women and men can ever have a 100% completely platonic relationship?"" She didn't believe it was possible. And then I told her about Pam.  She thought it was weird too."


"This is going to vary from insurer to insurer, and likely year to year.  Typically an insurer will set what it calls the guaranteed rate of return for whole life policies and will allow you to take loans against the cash value of your policy at some adjustment to that rate.  Also typically you pay the interest back to yourself less some small administrative fee. Some insurers have whole life policies called something along the lines of an ""accelerated cash value"" policy or a ""high early cash value"" policy, stick to these ones.  The commission structure is less favorable to the agent/broker but much more of your premium is recognized as cash value earlier. The benefit (for lack of a better word) to taking a loan against your own cash value over taking a loan from a bank is the severely reduced process.  There's no underwriting for your loan like there would be from a bank.  If you're laid off maybe you can't get a loan from a bank but you can scoop some money out of your policy on a loan basis or alternatively you can just surrender the policy and take the accrued cash value. Many people will poo-poo the value of whole life, but fact of the matter is your underwriting status can change in the course of your life and it's possible that in the future you won't be able to buy any life insurance.  There's nothing wrong with having something permanent to supplement your larger term policies. Personally, I view diversification as having money in a lot of different places.  This strategy is probably not as efficient as it could, but I don't like the idea of having all my eggs in one basket.  I have cash in a lock box at home, cash savings, CDs, a personal loan portfolio, bitcoins, index funds, individual stocks, commodity etfs, and bond funds spread in traditional 401(k), ROTH IRA and regular taxable accounts spread out to 6 different institutions.  I don't personally own any whole life, but I'll probably buy a small policy before my next 6-month birthday; I might as well put some money there too.  All of this is to say, do not put all of your money in a whole life policy, and do not buy all of your life insurance needs via whole life."


"That's just like the classic, ""who would build muh roads?"" hyperbolic argument for the flood of needless government regulations we have currently, and fools want more of. Of course some regulation is good. Of course. Get the fuck out of here with this all or nothing children's argument. That said, demonstrate empirically that the net gain of economically harmful regulations will stop and /reverse climate change or get the fuck outta here with the Al Gore chicken little nonsense."


Quite the opposite, crony capitalism has caused all of these problems.  Big cable? Subsidized.  Big oil? Subsidized.  Big banks? Bailed out.  And the tax code changes they're putting through now, why do you suppose this is being done? The US has the highest statutory corporate rate in the developed world, on small and large businesses. This is anti-competitive because in order avoid steep rates you need to hire big teams of tax lawyers, accountants, and other overhead to handle the paperwork and manage liability for you. Not only that, but its to the point now where most business decisions are not undertaken with the heath of the company in mind, but with great consideration to how it will effect the company's tax liability.


"It's a good counter point, albeit a bit simplified. I have a couple of objections to the inflamatory way you phrased that:  Do you believe in equal first amendment rights of public utilities? Because they **can't** deny access (IANAL, of course). That's not a rhetorical question, it's to try to put your comment in context so that I understand what you mean.  To me corporations are not people, so your phrasing is needlessly extreme. (citizens united went too far)  I would not ""take away PayPal's first amendment rights"" in those words, no. They can give any statement they want. Is ""deny service"" protected speech? Not for everyone and everything (e.g. public utilities).  Would you protect a private hospital's right to let someone die based on their political views, or attractiveness? If we are going purely by first amendment, and define ""right to inaction by companies"" as speech (which surely you can't mean. Surely there's a line?), then there are so many ways that's legalised out right murder.  What about WikiLeaks first amendment right to participate in political discourse? ""Sure, but they de facto can't use money""?"


"We get HelloFresh and, for the most part, really like it. From opening the box to sitting down and eating, we spend about 35 minutes - typical dishes used are a couple pans and a cutting board.   To mix things up, we tried Blue Apron for a couple weeks.... hated it. Exactly as you say: ""15 minutes prep time"" was more like 40 minutes. The meals were just okay overall and the portions on average were smaller than HelloFresh.   HelloFresh has definitely had some misses.l, but we've enjoyed most of the meals.   Long term, we plan to still get a box 1-2x per month. We save all the recipe cards from meals we like and then buy twice the ingredients at the supermarket to remake them."


"This is the best tl;dr I could make, [original](https://fredblog.stlouisfed.org/2017/08/characterizing-the-decline-of-manufacturing-employment/) reduced by 76%. (I'm a bot) ***** > The question we&#039;re asking today is whether this decline is due to workers leaving the manufacturing sector voluntarily or not.  > In other words, there&#039;s considerable movement in the market for manufacturing workers and only a small part of it is about the sector downsizing its labor force.  > For the third graph, start with manufacturing layoffs as in the second graph, from &quot;Edit Graph&quot; edit the existing line by adding &quot;Manufacturing quits,&quot; and apply the formula a+b.   ***** [**Extended Summary**](http://np.reddit.com/r/autotldr/comments/6sot16/characterizing_the_decline_of_manufacturing/) | [FAQ](http://np.reddit.com/r/autotldr/comments/31b9fm/faq_autotldr_bot/ ""Version 1.65, ~187238 tl;drs so far."") | [Feedback](http://np.reddit.com/message/compose?to=%23autotldr ""PM's and comments are monitored, constructive feedback is welcome."") | *Top* *keywords*: **manufacturing**^#1 **graph**^#2 **layoffs**^#3 **decline**^#4 **employment**^#5"


Yes, you call the broker and tell him to use those shares to deliver to the short position.


A couple of good books I enjoyed and found very understandable (regarding the stock market): As for investment information you can get lost for days in Investopedia.  Start in the stock section and click around. The tutorials here (free) give a good introduction to different financial topics. Regarding theoretical knowledge: start with what you know well, like your career or your other interests.  You'll get a running start that way. Beyond that, it depends on what area of finance you want to start with.  If it's your personal finances, I and a lot of other bloggers write about it all the time.  Any of the bloggers on my blogroll (see my profile for the link) will give you a good perspective.  If you want to go head first into planning your financial life, take a look at Brett Wilder's The Quiet Millionaire.  It's very involved and thorough. And, of course, ask questions here.


You just explained why I'm boggled that some companies an individuals are willing to utilize such an erratic currency for exchanges. I tried using it as a payment method in my previous services company, but was understanding most people wouldn't and that it could potentially be loss for myself. Which on a smaller scale isn't really a issue, but scale up to some of the larger companies and it could be devastating. It's an entirely speculative market that could depreciate returns quickly.


Brennan adaptors differ from each other by the pressure they can handle.  There being classifications on the type and class of fittings available. Due to the reach of our networks, a high inventory level of spares can be avoided, since a part is never more than a day’s travel away.


A little birdy says, the Octupus miracle is little more than smoke and mirrors . . .by the time the dust settles, its going to make Bears and Sterns look like a good deal.  Leverage is a double edged sword  . . .hell a chop stick is a sword against a squishy old octopus with cooked books


They didn't have a website when they started out. The entire business model was just the email. It's seriously worth the free subscription. Try it and unsub if you don't like it. Or don't. No skin off my back.