Banks/Money Managment

Sharkey said:
Evan if you couldn't hold the cash in a qualified account, I'm pretty sure most people would prefer to pay tax on money they make (which means they still walk away with money) than lose money (which is what would have happened in this situation).
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Generally speaking, putting aside opportunity costs, you only lose money on devalued securities if you sell or the issuer BKs.


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JKbrick said:
In this situation yes, but the rest of us haven’t “lost money” except on paper unless you panic sold, correct?
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Yes...provided you are able to hold onto whatever you have long enough to make back whatever it lost. How long that might be remains to be seen.

fiend said:
Generally speaking, putting aside opportunity costs, you only lose money on devalued securities if you sell or the issuer BKs.
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Of course. But, again, you have to be able to hold long enough to make back whatever the loss was...and the stock price actually has to make up that ground. If the economy (and society) carries on with its current situation, I think recovery will take a very, very long time.

Brut got lucky. 27% of his investment was cashed at a high, held as cash that can be reinvested penalty free, and now can be reinvested at an unbelievably low market. Or, he could take the cash and pay the tax on a sales price that probably won’t be seen again for maybe a decade. There are much worse positions to be in.


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JKbrick said:
Is this officially official?
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Seems legit. Applicable if you owe 1 million or less (as an individual) or 10 million or less as a corporation.

https://www.cnbc.com/2020/03/17/treasury-and-irs-to-delay-tax-deadline-by-90-days.html

https://www.usatoday.com/story/mone...l-15-tax-payment-deadline-90-days/5071239002/

The IRS will postpone the April 15 tax deadline by 90 days for millions of individuals who owe $1 million or less and corporations that owe $10 million or less, he said.

"We encourage those Americans who can file their taxes to continue to file their taxes on April 15 because for many Americans, you will get tax refunds and we don't want you to lose out on those tax refunds," Mnuchin said. "We want you to make sure you get them." <BECAUSE THEY CARE SO FUCKING MUCH ABOUT US LITTLE PEOPLE.


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WJCO said:
Seems legit. Applicable if you owe 1 million or less (as an individual) or 10 million or less as a corporation.

https://www.cnbc.com/2020/03/17/treasury-and-irs-to-delay-tax-deadline-by-90-days.html

https://www.usatoday.com/story/mone...l-15-tax-payment-deadline-90-days/5071239002/

The IRS will postpone the April 15 tax deadline by 90 days for millions of individuals who owe $1 million or less and corporations that owe $10 million or less, he said.

"We encourage those Americans who can file their taxes to continue to file their taxes on April 15 because for many Americans, you will get tax refunds and we don't want you to lose out on those tax refunds," Mnuchin said. "We want you to make sure you get them." <BECAUSE THEY CARE SO FUCKING MUCH ABOUT US LITTLE PEOPLE.


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Yeah that’s what I heard on the radio this morning.


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Brute said:
I had moved some of my portfolio to a different investment manager a month ago...most was moved in kind, but I also had substantial investments in their proprietary funds which had to be converted to cash...before I reinvested the cash, the slide started...I left it in a cash position, which was 27% of my investment...

Just dog shit lucky...
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Time to put it back in, then.


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WJCO said:
Seems legit. Applicable if you owe 1 million or less (as an individual) or 10 million or less as a corporation.

https://www.cnbc.com/2020/03/17/treasury-and-irs-to-delay-tax-deadline-by-90-days.html

https://www.usatoday.com/story/mone...l-15-tax-payment-deadline-90-days/5071239002/

The IRS will postpone the April 15 tax deadline by 90 days for millions of individuals who owe $1 million or less and corporations that owe $10 million or less, he said.

"We encourage those Americans who can file their taxes to continue to file their taxes on April 15 because for many Americans, you will get tax refunds and we don't want you to lose out on those tax refunds," Mnuchin said. "We want you to make sure you get them." <BECAUSE THEY CARE SO FUCKING MUCH ABOUT US LITTLE PEOPLE.


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Cool thanks, i fit into both categories lol, but ya fuck them if they think in this time period I’m going to pay early. Every year I still wonder why I work so hard just to give it back, fuckers


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Exodus Jeeps said:
Yes and no. In 2016 the price hit as low as $26/bbl and hung around for a while there. Most oil companies that are large enough to guarantee a certain amount of production per day are able to hedge the prices for the entire year, and sometimes longer. The real trouble is the amount of debt most of these companies have taken on by foreign countries, namely China. I don’t have to explain what will happen if they start failing.


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Exodus Jeeps said:
The nose dive will have to last several months and possibly into the next year. Like I said, most large producers are hedged in the $60/bbl range throughout the rest of the year. They’ll laugh their way through this and everyone will continue paying the same price at the pump while they scratch their heads. Now if it continues into the fall then they’ll start getting nervous. I honestly don’t see this lasting very long though. I expect to see prices back to $50/bbl by this summer, somehow.


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Exodus Jeeps said:
I’m not as worried as much as I probably should be


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Crude is $26.95 per bbl this morning...
 
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