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Stock Thread (25 Viewers)
- Thread starter St. Louis Bob
- Start date
Golf Guy 69
Footballguy
Big League Chew
Footballguy
i bet those planes at the beach that fly the signs behind them are just sitting away. can we hire them to fly 'Getchu sum LebronLimeAide'
ConstruxBoy
Kate's Daddy
beef
Footballguy
What I thought I saw was that it was only for those who contacted Covid-19. I don't think it was for just anyone.
I'd like it if it were. I'd consider pulling my former employees 401k, pay the tax now, and put in a Roth.
Golf Guy 69
Footballguy
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cosjobs
Footballguy
I like it here. Lots of pent up demand waiting in the wingsSDC. Smile Direct.
Yeah, I bought that terd.
Yeah, read that. I'll stay near this table. really don't want to be holding anything right now and have the cash at the ready.
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cosjobs
Footballguy
You're probably limited to 6000 on your Roth, but its not too late to apply it to last year and double up now for this year.
cosjobs
Footballguy
so you have to pay it back into the 401K
"One provision lets investors of any age take as much as $100,000 from retirement accounts this year without paying an early withdrawal penalty. They also can avoid taxes on the withdrawal if the money is put back in the account within three years. If it can’t be returned, taxes can be paid over three years."
cosjobs
Footballguy
Allowing this is such a horrible idea. People will not be able to pay it back and then they have to pay taxes on it. So not only do they not have as much to retire on, they are socked with a tax bill on it. Double face punch.
beef
Footballguy
My thought was putting it in a new Roth under my wife's name. She has an old 401k too I'd like to get in a TD Roth and start playing with.
Don't Noonan
Footballguy
I have a feeling if AMZN doesn't absolutely crush earnings they are going down $100+. Hope I am wrong.
While I’d love to move some to a Roth, my wife and I both work so we’d get murdered on taxes. I hope the back door thing is still around in 10 years when I hope to retire. For right now just maximizing our contributions to save on taxes.
cosjobs
Footballguy
cosjobs
Footballguy
ghostguy123
Footballguy
Everyone get a custom t shirt with "CYDY" in big letters. Tell all your friends. Eventually it will generate more pub.
cosjobs
Footballguy
Golf Guy 69
Footballguy
ConstruxBoy
Kate's Daddy
We need one of those female streakers at a big time sporting event.........oh.....wait....
Jefferson the Caregiver
Rebel Without A Pause
The general sentiment right now is just deal with this crisis and kick the can further down the road. Fed doing the exact same thing.
Capella
Footballguy
Ouch. Honestly surprised it's not down a lot more considering the run up it's had.
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sporthenry
Footballguy
What idiot would sell ahead of it. Disclosure, I own some shares. But love the quote abut 2Q, we're not going to make any money. Stock go up.
Bob Sacamano
Footballguy
That's how you invest. That's fine. I don't make every buy and sell decision chasing a double, though it has since I bought it. I'm fine with the money I have in it sitting there and outperforming the S&P for as long as it can. And it has. At some point that will stop. At that point, I'll decide if there's something better to do with it.
It also didn't get cut down when the market tanked. There's value in that.
One can do worse than >>>>> market returns with <<<<<<< market risk.
Unfortunately Joe Public doesn't have a US Currency printing press at his home which allows him to print his way out of a jam and not be required to pay it back.......yet.
I, for one, believe everyone with a SS number should get a machine at home that prints $1 million dollars and that's it. Use it wisely cause once it's hit $1M, your machine quits working and ya won't get another one.
On the bright side, they're one of the rare companies that didn't pull their guidance going forward.
Capella
Footballguy
This morning right? They were up 4% on the day so it’s basically a wash from what I can tell.
GoBirds
Footballguy
If there is a pullback of any significance I’m adding more Amazon. This new normal we are probably looking at plays into their business model perfectly, and while it may not show in these partial numbers of the Covid impact this quarter you have to think we see them benefit even more going forward.
ghostguy123
Footballguy
This is probably not the greatest time in history for me to have started learning about investing in individual stocks.
Random
Footballguy
Actually it probably is. You are getting a taste of what can happen in a recession. Anyone who started trading after 2009 is probably spoiled as you couldn't go wrong with any of the big cap names. Just put your $ in and walk away.
This generation has never seen real capitulation. Real capitulation is 'I hate the stock market, never again, I'm selling my AMZN.' THAT is real capitulation. It would be like amazon going from 2500 to 1050. Percentage wise, that's what happened in 2009. Doubt it can happen today with every fund and every pension plan owning AMZN. It would require a cooking of the books.
cosjobs
Footballguy
sporthenry
Footballguy
Additionally, adding on to that. Actively managing individual stocks should outperform passive funds in this environment. Granted FAANGM has driven indexes for a while, but as the now stale stat showed, when the S&P was down 17%, the median stock was down 28%. So if you can stock pick the names that should weather this better, should outperform.
Not to mention, losing money is really the best way to learn. Probably learn more in a volatile market in terms of risk tolerance, sizing, patience, etc.
It is. Not sure what to make of it. A $2 billion revenue exceed is pretty huge and it doesn’t surprise me with what they had to do that earnings missed. As I’ve said before they aren’t a company who truly worries about quarterly earnings. When they wanted to move to one day shipping, they just spent and did it. They had to increase staff and safety measures to keep delivering at the level that they had to and believe me, I’ve gotten every package I’ve ordered fast. I can’t even imagine how busy they are.
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Todem
Footballguy
March 16th thru the 23rd was the best time to learn.
You buy them when you see that....in fact you back your truck up when you see that kind of fear, panic and outright ridiculous selling.
That should be the lesson you always remember so the next time (because there is always a next time) you act on it.
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Don't Noonan
Footballguy
-OZ-
Footballguy
I get the tax benefit, but unless you're predicting the drop, why take it back out?
My understanding is you pay taxes on the withdrawal although this can be deferred over 3 years and offset by redepositing. Best to talk to a CPA, I believe you are referring to the hardship withdrawal provisions of the CARES Act from the earlier posts and none of that has really been hammered out yet. Were you or a family member diagnosed with COVID? Lose your job or get furloughed due to COVID? Those are the most obvious eligibility requirements, but Congress wrote in some other nebulous provisions that have not been fully fleshed out yet that may end up being very broad.
Last article I read said that those that can afford the tax hit and meet eligibility will likely be able to make out like bandits as they would be able to totally move around funds as you can withdraw from one IRA and then redeposit over the next 3 years to a totally different IRA. You could use this to manage your tax bill in pretty unique ways. For example, income way down in 2020 due to COVID? Withdraw now and pay your tax on it, then redeposit and take a deduction in one or more of the next few years when your income is way back up and in a higher tax bracket.
Some of the dangers are of course is you can't afford to pay it back, you don't pay your taxes and get hit in the 3rd year, you miss out on market returns until you put the money back in, etc. And my understanding is this applies to both IRA's and 401K's, but most custodians have not caught up to the CARES Act at all yet and have no idea how they will manage these withdrawals. They also increased 401K loans up to 100K instead of 50K as another option too.
Bob Sacamano
Footballguy
I wish all companies behaved this way. Things might be rockier, but we'd all be better off.
sporthenry
Footballguy
S&P down 1% in the after-hours. Nothing like a trade war in the middle of this.
