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Stock Thread (9 Viewers)
- Thread starter St. Louis Bob
- Start date
Pipes
Footballguy
Seems crazy to me. Going to let it bleed out a bit more and acquire some more shares if it dips back into the $17ish range.
identikit
Footballguy
I'm still slightly underwater on this one.
I'll be hanging tight too, hoping you're right.
The Ref
Footballguy
. 
dkp993
Footballguy
General Malaise
Footballguy
Anybody own or ever buy EA Sports? Son wants to add that name to our portfolio and just looking for some simple inputs from the group here; pros, cons and alternative suggestions welcome!
Activision and Take Two might be decent alternatives. I own ATVI, been decent even with the dip lately.
-OZ-
Footballguy
-OZ-
Footballguy
Yep.
Which is perhaps the best reason to use IRAs instead of a regular brokerage. Of course then you're risking the IRA. But if you buy and hold in one account and trade in another, your trading should be in the IRA.
Or, you know, actually understand taxes.
2Squirrels1Nut
Footballguy
I do. Bought at $98.48 in March 2019. Up 43% not including the sweet, sweet, dividends. IMHO they are still a leader in the gaming industry, particularly sports games that continue to remain popular.
I also bought ATVI around the same time at $48.51 which is up 101% not including dividends. Probably a better play in the gaming space.
FWIW
ETA
EA Dividend $0.68 annual
ATVI Dividend $0.47 annual
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Bob Sacamano
Footballguy
Bob Sacamano
Footballguy
Bossman
Footballguy
Wash sale meaning that you are not allowed to claim a loss Since you bought the same stock that you just sold...
So this dude profited $800,000 overall?
How much would he have had to trade to do that? ...and how much loss was he not able to claim?? Sheesh
Sand
Footballguy
He churned through millions for a 45k profit overall. 800k tax bill is a really harsh beatdown, though. I wonder if they are capturing the change in basis properly.
-OZ-
Footballguy
I used to think I understood taxes. Then I see this. If the dude only made $45k, how did his gains give that much tax? I get that you can't take the loss with a wash sale, but this still seems really off.
Your last comment is the same thing I was thinking.
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Sand
Footballguy
Seems really hard to do. The basis adjustment should help in this a lot. Example:
For example, consider the case of an investor who purchased 100 shares of Microsoft for $33, sold the shares at $30, and within 30 days bought 100 shares at $32. In this case, while the loss of $300 would be disallowed by the IRS because of the wash-sale rule, it can be added to the $3,200 cost of the new purchase. The new cost basis, therefore, becomes $3,500 for the 100 shares that were purchased the second time, or $35 per share.
Sounds like the guy needs a really good CPA to weed through this.
-OZ-
Footballguy
The ROI on that CPA will probably be his best investment.
Really though, the frequency of trading to only make $45k seems really not worthwhile. Maybe it you start with like $100. Now, if he actually made enough to have $800k in taxes,
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Sand
Footballguy
If I could daytrade to a 45k yearly win I'd happily retire. I'd regard that kind of profit to be incredibly hard to do, though. Something like 95+% of day traders lose money over the long term.The ROI on that CPA will probably be his best investment.
Really though, the frequency of trading to only make $45k seems really not worthwhile. Maybe it you start with like $100. Now, if he actually made enough to have $800k in taxes,
-OZ-
Footballguy
In 2020 it seems like it would have been rather easy. Not consistently, which is your point. Which I agree with, but even if I reasonably thought I'd make $4k more monthly than with long term holds I wouldn't do it.
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Bob Sacamano
Footballguy
It's been suggested to me more than once that I should consider this instead of going back to work. And I've definitely been trading more since I've been unemployed. But I think I'd be a terrible day trader. I'd feel like I had some daily nut I had to get to, and potentially doing that at the expense of my investments would make me too conflicted.
Nick Vermeil
Footballguy
For me it comes down to what is your roll to make those kind of returns? I’m at 64% YTD in my day trade account but I would have needed to start with a much larger sum to make it retirement worthy. And then I would be much more risk adverse due to the large sums wagered.
-OZ-
Footballguy
Yep
I definitely get it as a hobby, as a way to get your gambling fix, etc.
But not as a primary means of income.
Bob Sacamano
Footballguy
$45k/253 market days per year = just under $178/day. Piece of cake, right?
Nick Vermeil
Footballguy
Nick Vermeil
Footballguy
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Insoxicated
Interesting sites.... anyone think these are accurate?
https://senatestockwatcher.com/
https://housestockwatcher.com/
https://senatestockwatcher.com/
https://housestockwatcher.com/
Sand
Footballguy
Sand
Footballguy
I'm trying to get into options now. Not as a means to replace income, but something that provides low correlation to the rest of the market. Bonds suck, and will for a while. So what to use as as a reasonable add to a diversified portfolio? Commodities also suck. Crypto is nutso. Buy write funds have low correlation and a positive profit profile (4-5% is typical), but after reading a lot I'd probably rather write puts, as they tend to have better premiums. Theta farming is profitable.
Day trading is way too hands on. I don't mind semi-passive investing, but day trading is a full time job to do it right.
⚡DEADHEAD⚡
Footballguy
Most people made money, and a lot of it, in the last 12 months. The catch is that you have to make money in flat and down markets.
Charlie Harper
Footballguy
Crazy how NNOX is only up a a few bucks after the news. Seems like a no brainer to jump in now at this price. What's the deal?
Sand
Footballguy
It was baked in. Now it's down to execution. No idea how good the management team is.
KGB
Footballguy
McBokonon
Footballguy
CEO on Bloomberg yesterday
He’s clearly excited but also realistic - this is likely to take some time. I’m willing to wait.
Nick Vermeil
Footballguy
ZOM is approaching a dollar. I may pick some up if it dips below.
NajehHejan
Footballguy
Zom is killing me. I got back in around low 1.80's. i don't know whether to average down or just ride it out. Don't want to throw good money on bad money....
McBokonon
Footballguy
Link to hearing on Teams
For those in TMDX (I have a starter position) you might notice the stock is halted. Their heart system is being reviewed by an FDA advisory committee right now. There's a chance we hear a recommendation today but an actual approval is probably months away.
For those in TMDX (I have a starter position) you might notice the stock is halted. Their heart system is being reviewed by an FDA advisory committee right now. There's a chance we hear a recommendation today but an actual approval is probably months away.
Johnnie Nepal
Footballguy
Johnnie Nepal
Footballguy
Will my late 80s baseball cards finally be worth something?
https://finance.yahoo.com/news/sports-card-firm-topps-public-124953213.html
https://finance.yahoo.com/news/sports-card-firm-topps-public-124953213.html
identikit
Footballguy
General Malaise
Footballguy
BassNBrew
Footballguy
You don't suck, you just let your political bias override your thoughtful analysis. If DM hired a lunatic, you needed to weight that decision proportionally rather than throwing all your pennies on the floor.Desert Mountain having a great day.
I suck. Never listen to me.
Note - Also to your credit, you pointed this out when you mentioned selling. Nothing wrong with being principled if that's important to your investing strategy.
