Sanrith Descartes
Veteran of a thousand threadban wars
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PSTH and PSTHWS is the ultimate test of patience. Up 40% on the stock and 50% on the warrants and just letting it sit.
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Investing General Discussion
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Sanrith Descartes
Veteran of a thousand threadban wars
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Gravel
Mr. Poopybutthole
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Cool, and how are the economies in South America doing in comparison to the US? And what if the US economy ceases to exist, how do they fare then?
The US is unique here. Taxing unrealized gains here means you just crushed all investments, across the board. All that foreign money that comes here also dries up. The margins are already slim.
CAGR of the market is 10%.
Knock off 3% for inflation and you're at 7%.
Take another 1% of so for average fees (could be as low as .5%) and you're down to 6.5%.
Now, add a tax on just the value of it, NOT when it's sold? That remaining 6.5% evaporates. Bonds as a concept aren't even worth discussing anymore as they'll go negative (to add to the negative interest rates across much of the world already).
Even if it's only a marginal change, and you knock off 2%, that's massive on the scale of the entire country. And worse, like I said, it's on unrealized gains. So you hit literally all of it. Every single penny.
Can you imagine if a policy was proposed to knock 2% off GDP? Good luck with never having positive GDP ever again.
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Gravel
Mr. Poopybutthole
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On this scale, I just don't see what the end state is.
The rich suffer in this plan as well. It's one thing when we talk about screwing the poor. But is Bezos going to want to eat a 10-20% tax on his $180 billion every single year?
We always joke about how plebes don't understand that the "rich" don't actually have all their net worth in cash. It's in imaginary investments that they can't realistically liquidate in a significant amount (compared to the whole).
Blazin
Creative Title
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Blazin Do you calculate your cost basis with or without the premium if you write a put and get assigned? Do you treat option premium as a separate instrument or just roll it in? I know its just a personal accounting thing but I am curious if you roll it in or not.
I do not adjust the cost basis, the option gets recorded and then if assigned a new entry for the holding with the strike as the cost basis.
The reason I do this is that I have Premium goals every month that I track separately from capital gains from stocks that I hold. So on the other end my call premiums are also recorded separately from the underlining. I do however at the end of the year look at each ticker for how much I made in total between premium collected vs. capital appreciation.
LachiusTZ
Rogue Deathwalker Box
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Sanrith Descartes
Veteran of a thousand threadban wars
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Yeah, that is how I have been tracking it (not for goal setting as just because I am anal about my accounting). I was curious if I was being insane OCD about it.
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Sanrith Descartes
Veteran of a thousand threadban wars
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I wrote some puts on TSLA at $20 strike expiring next January. As long as they dont go bankrupt I win. I don't know what surprised me more. That the premium is 15 cents or that the open interest is like 35k and the number of contracts written today was over 500.
Edit: I am a dummy. I should have written the $10 strikes for Jun of '22. Same 15 cent premium for half the cash to cover. If they avoid bankruptcy by January then they can probably avoid it by Jun.
Edit: I am a dummy. I should have written the $10 strikes for Jun of '22. Same 15 cent premium for half the cash to cover. If they avoid bankruptcy by January then they can probably avoid it by Jun.
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Furry
WoW Office
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You don’t seem to understand the point of the system. Rich people in power are so rich they can pay all the taxes while laughing. Ordinary people are poor as shit and rely on the government so they vote socialism. Most people lie and cheat taxes everywhere they can, and some of those can live good lives.
The most important part is that the only way to rise in power is to be a criminal. The average person will usually get away with, but if someone tries to step out of line 100% of the country has broken the tax laws and its an open and shut case that they are guilty of tax fraud. Ever notice how many leaders in South American countries go to jail for tax fraud crimes?
Obviously it’s a retarded policy that ruins countries, but when has that ever stopped politicians?
Fogel
Mr. Poopybutthole
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Sanrith Descartes
Veteran of a thousand threadban wars
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Yeah. I didnt say it was the most cost effective use of capital. I expect to close it for a few pennies in a couple weeks when TSLA is back at 3k a share.
Blazin
Creative Title
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The OI is going to be from prior to this runup and split, so people selling $80 strike when the stock was selling around $300. It's come so far that now those trades seems a complete waste at that price level.
Loser Araysar
Chief Russia Correspondent / Stock Pals CEO
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a perfect environmentally friendly solution for hunting down all those white terrorists in the Kamala era.
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Fogel
Mr. Poopybutthole
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Today I bought BFI like I talked about yesterday. I also bought fiii which is another EV play, they sell electric last mile vans and already have orders. Also bought STPK - Batteries
Surprised to see CCIV hold on to 18$, and no ones talking about it anywhere it seems but ACTC keeps going up. If GHIV doesn't pop on the merger tomorrow I'm selling
Surprised to see CCIV hold on to 18$, and no ones talking about it anywhere it seems but ACTC keeps going up. If GHIV doesn't pop on the merger tomorrow I'm selling
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Sanrith Descartes
Veteran of a thousand threadban wars
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Not all of it. Someone dropped 200k OI on the $20 strike expiring soon (next month I think) the other day. It was going for like 5 cents a contract.
Sanrith Descartes
Veteran of a thousand threadban wars
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The problem isn't SPACs per se. The problem is the advent of social media and Discord used to pump said SPACs. There is nothing illegal about an individual investor buying a rando $10 SPAC and then going on Twitter and tweeting "OMFG, Bloomberg terminal just posted Elon Musk merging SpaceX with <insert SPAC here>" and selling 45 seconds later as it spikes to $15. Its shitty, but not illegal unless the account is associated with the SPAC, the company or an investment firm.
I am probably the only one here who actually reads the SEC filings for SPACs I buy. They are not all the same. Some SPACs have started charging a fee if you redeem your warrants. Again not illegal because it is in the documents investors are "supposed" to read. I choose not to invest in those SPACs because its a shitty money grab and I wont be associated with Founders that do that.
If the new SEC head decides to fuck with SPACs, its because he is being paid off by the big investment banks who are losing out on their sweet monopoly they have had forever and want SPACs dead. Gee, I wonder if this dude will look into the traditional IPO process and do something to help the retail investors getting fucked by the investment banks and insiders. I am thinking that will be a no.
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