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Stock Market Meltdown

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Stock Market Meltdown

Old 04-16-21, 10:26 AM
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re: Stock Market Meltdown

Originally Posted by parrotheads4 View Post
True. Did you know the Euro has depreciated nearly 9% since last year? What does that say for the dollar?
For me it says I should keep converting my "real" money into imaginary internet currency.
Old 04-16-21, 12:53 PM
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Re: Stock Market Meltdown (Not a Porn thread)

Originally Posted by GoVegan View Post
For me it says I should keep converting my "real" money into imaginary internet currency.
China thanks you!
Old 04-16-21, 03:20 PM
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Re: Stock Market Meltdown





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Old 04-29-21, 08:47 AM
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Re: Stock Market Meltdown

The market overall just keeps pumping along, pandemic or not. My 401k is up 30% from the pre-pandemic highs from just over a year ago, it makes no sense to me.
Old 04-29-21, 09:33 AM
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Re: Stock Market Meltdown

"You have to spend money to make money". There's someone out there funding trillions right now and trying to get more money spent. Going into debt "for the right reasons" is the best move you can make financially. Whether you're buying a house, or building highways.
Old 04-29-21, 12:38 PM
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Re: Stock Market Meltdown

Yeah, it's pretty crazy. My 457 is up 42% in 1 year.
Old 04-29-21, 12:56 PM
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Re: Stock Market Meltdown

The Federal Reserve inflated our currency by 18% via Quantitative Easing in 2020.

You've also got a ton of new money coming into 401ks and IRAs the market each month. I'm guessing that the intake far exceeds the outtake at this point. That will probably level off a little bit at some point when more and more new retirees have 401ks and IRAs, but we're not there yet.
Old 04-29-21, 12:57 PM
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Re: Stock Market Meltdown

I'm up 10% but I took 2/3rd of my money out in Feb 2020, and put it back Feb 2021. Still the right move at my age since protecting my capital was more important than any potential missed gains.
Old 04-29-21, 01:26 PM
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Re: Stock Market Meltdown

It seems to me that the proposed long term capital gains rate increase will encourage stock holders with large gains to realize them before the increase kicks in. Doesn't that portend a stock market sell-off?
Old 04-29-21, 06:23 PM
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Re: Stock Market Meltdown

Probably. But, the increase could be made retroactive to 2021, and we also don't know just how much or when the increase will take effect. Also, it might mainly effect people who are in the highest income tax brackets anyway (> $400k per year?).

So, hopefully the selloff and mass panic won't be as great as some are portending.
Old 05-04-21, 07:44 AM
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Re: Stock Market Meltdown

Crazy.. I bought $1000 of DOGE on Thursday evening. Worth $1700 now.
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Old 05-04-21, 07:58 AM
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Re: Stock Market Meltdown

Originally Posted by X View Post
It seems to me that the proposed long term capital gains rate increase will encourage stock holders with large gains to realize them before the increase kicks in. Doesn't that portend a stock market sell-off?
Yes and no. On one hand, people will want to realize some gains and diversify. On the other hand - it will effect any investments, and people aren't going to suddenly give up investing.
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Old 05-04-21, 11:16 AM
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Re: Stock Market Meltdown

Originally Posted by RichC2 View Post
Yes and no. On one hand, people will want to realize some gains and diversify. On the other hand - it will effect any investments, and people aren't going to suddenly give up investing.
The thing is, you are incented to not sell when over half your profits (even if only due to inflation) are taxed. Not to mention that there is no incentive to hold assets for long term anymore which I don't think is healthy for the economy.

Instead of selling you can borrow money for new purchases based on your existing assets. Let's take an example. You buy your home for $1/2 million, 30 years later it's worth $2 million and you want to sell it so you can move somewhere else. This is not uncommon in the SF Bay Area.

$.5 million of the profit for a married couple is tax-free, just a perk for home owners, not other assets. But you still realize $1 million in long term capital gains. Do you want to pay over 50% on the profit from that one-time event? No, you either don't sell, or if you want to move you rent out the home and use the rental income to pay for renting your new residence or you borrow some equity out of the old home for a down payment on a new one. So the family that moves into your old home doesn't get a chance to buy a home, another side "benefit" of over taxing capital gains. Assets won't turn over as frequently and that will lead to inefficient use of capital. Not to mention the IRS won't get any revenue from the capital gains that didn't occur.
Old 05-04-21, 11:38 AM
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Re: Stock Market Meltdown

Originally Posted by X View Post
The thing is, you are incented to not sell when over half your profits (even if only due to inflation) are taxed. Not to mention that there is no incentive to hold assets for long term anymore which I don't think is healthy for the economy.

Instead of selling you can borrow money for new purchases based on your existing assets. Let's take an example. You buy your home for $1/2 million, 30 years later it's worth $2 million and you want to sell it so you can move somewhere else. This is not uncommon in the SF Bay Area.

$.5 million of the profit for a married couple is tax-free, just a perk for home owners, not other assets. But you still realize $1 million in long term capital gains. Do you want to pay over 50% on the profit from that one-time event? No, you either don't sell, or if you want to move you rent out the home and use the rental income to pay for renting your new residence or you borrow some equity out of the old home for a down payment on a new one. So the family that moves into your old home doesn't get a chance to buy a home, another side "benefit" of over taxing capital gains. Assets won't turn over as frequently and that will lead to inefficient use of capital. Not to mention the IRS won't get any revenue from the capital gains that didn't occur.
Am I wrong in my interpretation that this is strictly for households making more than $1m a year? Not for singular sales exceeding $1m? Long Term Capital Gains have traditionally been based on your annual income at least.

Just Bezos the thing and lower your pay to $80k (or Zuckerberg it at $1) and get everything else in stock. Seems like all the old loopholes will be around.

I agree with the stock market stability concern. But again, it just seems very loophole-y.
Old 05-04-21, 11:39 AM
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Re: Stock Market Meltdown

Originally Posted by RichC2 View Post
Am I wrong in my interpretation that this is strictly for households making more than $1m a year? Not for singular sales exceeding $1m? Long Term Capital Gains have traditionally been based on your annual income at least.

Just Bezos the thing and lower your pay to $80k (or Zuckerberg it at $1) and get everything else in stock. Seems like all the old loopholes will be around.

I agree with the stock market stability concern. But again, it just seems very loophole-y.
It's not based on just your other income. $1m in household income, including long term capital gains, triggers the increased tax on it.

"While many can save on capital gains taxes, home sales in high-dollar markets could bump some sellers over the $1 million income threshold in the year of the sale, especially without the exclusions.

"I don't expect the law to impact a lot of people, but selling in some markets could put someone over $1 million in income for the year," said Leona Edwards, a Nashville, Tennessee-based CFP and wealth advisor at Mariner Wealth Advisors.

The Los Angeles area, for example, has seen a year-over-year increase of 24.8%, with the median list price at $1,199,000, according to data from realtor.com.

Those who bought during dips over the past 20 years, like after the Great Recession, may be caught up in the tax hike.

For example, let's say a single home seller earns $200,000 per year. If they bought a home for $250,000 and sold for $1.5 million, they could have annual income above the $1 million threshold, even with the $250,000 exclusion.

Combined with state taxes, the total capital gains rate could be more than 50% in California, a Tax Foundation report estimates. "

https://www.cnbc.com/2021/04/28/how-...t-markets.html
Old 05-04-21, 11:43 AM
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Re: Stock Market Meltdown

Gotcha. Have never sold anything worth enough to get me out of my bracket.
Old 06-02-21, 12:42 PM
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Re: Stock Market Meltdown

Crazy day!
Old 06-02-21, 12:43 PM
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Re: Stock Market Meltdown

Originally Posted by Why So Blu? View Post
Crazy day!

Why’s that?
Old 06-02-21, 12:48 PM
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Re: Stock Market Meltdown

Originally Posted by whotony View Post
Why’s that?
Meme stock stuff.
AMC went from a low of $38 today to $60+
GME went up $20 to $267
BB is showing life

AMC made a commitment to have a direct line with investors and offered free popcorn to shareholders, doesn't take much. To AMC's credit, they've been making big financial moves based on their stock performance. GME seemingly has done nothing.
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Old 06-02-21, 12:51 PM
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Re: Stock Market Meltdown

Originally Posted by whotony View Post
Why’s that?

AMC had a high of $71 at one point.
Old 06-02-21, 01:24 PM
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Re: Stock Market Meltdown

Damn. I should have held onto my AMC.
Old 06-02-21, 01:37 PM
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Re: Stock Market Meltdown

I have .45 shares in AMC - what a wild day I'm having!
Old 06-02-21, 01:55 PM
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Re: Stock Market Meltdown

Originally Posted by Draven View Post
I have .45 shares in AMC - what a wild day I'm having!
I have 7. Wish I had bought more when it was cheap.
Old 06-02-21, 01:59 PM
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Re: Stock Market Meltdown

I had a thousand in January (when the stock was $2), whoops. Still turned a nice profit either way.
Old 06-02-21, 02:04 PM
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Re: Stock Market Meltdown

Lol, I finally bailed on my 33 shares of AMC just a few days ago. Oops! Oh well, I was happy having doubled up.

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