Investing General Discussion
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Sanrith Descartes
Veteran of a thousand threadban wars
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BTC will be $100,00 by Christmas. Have faith and dollar cost average.
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Was that , supposed to be a . or did you miss a zero. Buy BTC now and find out!
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Jysin
Ahn'Qiraj Raider
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12:03 [RDFN] Asking ~8% of workforce to leave the Co, could be facing years, not months of fewer home sales - filing
Due to market conditions, on June 12, 2022, we decided to reduce our number of employees by approximately 470 employees, which represents approximately six percent of our total employees. We expect to complete this workforce reduction by the end of June 2022. As a result of this workforce reduction, we expect to incur a pre-tax cash charge for one-time termination benefits, which consist of severance and related costs, between approximately $9.5 million and $10.5 million in the second quarter of 2022.
Due to market conditions, on June 12, 2022, we decided to reduce our number of employees by approximately 470 employees, which represents approximately six percent of our total employees. We expect to complete this workforce reduction by the end of June 2022. As a result of this workforce reduction, we expect to incur a pre-tax cash charge for one-time termination benefits, which consist of severance and related costs, between approximately $9.5 million and $10.5 million in the second quarter of 2022.
Big Phoenix
Pronouns: zie/zhem/zer
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Will Coinbase go bankrupt? CEO says company has 'no risk of bankruptcy'
The crypto exchange's CEO Brian Armstrong did admit that some of Coinbase users’ crypto assets may lack certain bankruptcy protections
www.marketwatch.com
Also, for some true laughs;
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Sanrith Descartes
Veteran of a thousand threadban wars
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Sanrith Descartes
Veteran of a thousand threadban wars
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I like seeing companies making the cuts immediately and not just "waiting to see if there is a recovery".
Mist
Eeyore Enthusiast
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A bunch of bad news for some overextended unicorns does not make a recession. Plenty of parts of the economy are still growing and hiring.
We're going into an incredibly disruptive re-alignment, but without the massive cushion of handouts that happened during the previous incredibly disruptive re-alignment 2 years ago.
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Gravel
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I keep pointing it out, it's like an intro to business concept that a recession is two negative quarters of GDP. We've had one, and the 2nd one is announced at the end of the month.
Stop trying to look smart. The recession is already here. You don't really think this quarter will be positive do you?
Seriously, name me one part of the economy that's doing well. You keep saying it's growing...where?
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Sanrith Descartes
Veteran of a thousand threadban wars
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Gravel
Mr. Poopybutthole
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Oh, and my entire point is, my original post the other day was that there's no way analysts and CFOs all over the country are unaware what a recession is, nor do I believe they think anything has gotten better this quarter. Meaning they're all gaslighting us about it.
My post this morning was maybe that they're acknowledging the recession coming on the 29th, but by saying "the recession is coming in Q1 2023" it's actually a warning that they expect it to be WAY worse in a year. A "yeah, we're in for a technical recession shortly, but just wait for how bad it's going to look in 2023."
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I have bought and sold 3 times with RDFN and would 100% do it again, before listing my last home in Feb my agent was asking if we wanted to wait until the spring market and I said hell no with the rate increases coming. He at the time hadn't even thought about them yet.
They also have a bunch of retarded bloat like all the tech companies with their home buying division burning cash on stupid buys and all the staging and marketing VIP shit that they do.
They also have a bunch of retarded bloat like all the tech companies with their home buying division burning cash on stupid buys and all the staging and marketing VIP shit that they do.
Sanrith Descartes
Veteran of a thousand threadban wars
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SPIR. At current burn rate this is about 12 quarters of new cash. Stock moving in the right direction.
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Sanrith Descartes
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So something that hasnt gotten mentioned during this rout of the markets is that it might prove to be a worthwhile time to convert some/all of your traditional IRA to a Roth. With the conversion essentially taking money from the IRA and putting it in the Roth, you go from pre-tax money to post-tax money and all the money you convert you will now pay taxes on come next April. Why now might be a good time is that if you are down 20, 30, 50% in some of your holdings now, then there is going to be less to tax during the transfer. This means when (hopefully) the market recovers, everything you transfer now recovers tax free for the future.
Example: you invested 100k in the SPY over the last couple of years and now that position is worth 75K today. If you convert that SPY to your Roth you only pay taxes on the 75k. Assuming it recovers, at retirement when you start taking money out it will all be tax free (since you paid the tax on it at conversion). So the initial 75k and all the stock appreciation is now not taxed at distribution.
ps.. Check with your tax professional before doing this. You very need to estimate out your tax hit for doing this since the bill will be due come April.
Example: you invested 100k in the SPY over the last couple of years and now that position is worth 75K today. If you convert that SPY to your Roth you only pay taxes on the 75k. Assuming it recovers, at retirement when you start taking money out it will all be tax free (since you paid the tax on it at conversion). So the initial 75k and all the stock appreciation is now not taxed at distribution.
ps.. Check with your tax professional before doing this. You very need to estimate out your tax hit for doing this since the bill will be due come April.
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Tmac
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