Stock Crew 2008: Confucius says: An outgoing tide lowers all boats 🤿🛟🚣‍♂️

Dec 31, 2008
11,990
uthu8bye11da1.png


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:noes: What did you do?
 

MiseryIndex

open your eyes child, your sea is changing.
Nov 9, 2000
165,508
heaven's fence.
f yes, this is accidentallying into one of my biggest positions

Schlumberger beat earnings expectations, gave ‘very compelling’ outlook and raised dividend​



stock could hit 60 on this, cost basis is around 18
 
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stevezissou

OT Supporter
Jul 15, 2009
41,877
US
Tower of Crypto keeps falling

Crypto lender Genesis files for bankruptcy in latest blow to Barry Silbert’s DCG empire​


  • Genesis Trading filed for bankruptcy protection after suffering crippling losses from the collapses of FTX and hedge fund Three Arrows Capital.
  • Genesis is a part of Barry Silbert’s Digital Currency Group, which has seen mounting problems in recent months.
  • Some of Genesis’ largest clients include Circle, which operates stablecoin USD Coin, and Gemini, which is backed by the Winklevoss twins.

 

MiseryIndex

open your eyes child, your sea is changing.
Nov 9, 2000
165,508
heaven's fence.
Tower of Crypto keeps falling

Crypto lender Genesis files for bankruptcy in latest blow to Barry Silbert’s DCG empire​


  • Genesis Trading filed for bankruptcy protection after suffering crippling losses from the collapses of FTX and hedge fund Three Arrows Capital.
  • Genesis is a part of Barry Silbert’s Digital Currency Group, which has seen mounting problems in recent months.
  • Some of Genesis’ largest clients include Circle, which operates stablecoin USD Coin, and Gemini, which is backed by the Winklevoss twins.


people shouldn't have been using crypto lenders anyway. especially the people who did it just to buy more crypto against their existing crypto :rofl:
 
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MiseryIndex

open your eyes child, your sea is changing.
Nov 9, 2000
165,508
heaven's fence.
is there a mechanism i can't find to move a stock from a brokerage account into an IRA? i know i can just sell it and re-buy at the same price but i don't wanna pay taxes on that :o
 

stevezissou

OT Supporter
Jul 15, 2009
41,877
US
is there a mechanism i can't find to move a stock from a brokerage account into an IRA? i know i can just sell it and re-buy at the same price but i don't wanna pay taxes on that :o
nope

The term is "in kind" transfers.

IRS doesn't want you transferring in stocks with "built in gains" and then avoiding tax big no no bro.

Only thing that MIGHT be allowed is an "in kind" transfer from one IRA to Another or 401K to IRA etc but not brokerage to IRA.

 
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stevezissou

OT Supporter
Jul 15, 2009
41,877
US
Lol, and if they lose that job they owe that $50k back within the transfer period or it becomes a withdrawal

And they have to liquidate in like kind the same amount of proceeds so they’re sitting the market out

And they pay loan origination fees

It’s fire, playing with fire
Yep figured you would appreciate it.

These same guys were talking about "real estate in the metaverse" now aren't talking about it so much lol.
 
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993kgt

building an airplane whee
Nov 7, 2001
17,360
Destin, FL
Yep figured you would appreciate it.

These same guys were talking about "real estate in the metaverse" now aren't talking about it so much lol.

immediately their audience is identified, it's people who are so fucking clueless they don't realize they have an idle 401k at an old employer

or people who don't understand why their money is in a 401k somewhere, or what they should do

They aren't after you or me with that video

I just started a new client/role and it's W2, and they automatically enrolled me in their 401k program, I got my first paycheck today, and they took 3% out pre-tax and I still do not have any access or information for the 401k provider or plans available, so I can see how a lot of sheep may end up having a ton somewhere they don't even understand or realize

I get to do some fun math to figure out my withholding percentage so I can maximize the match and contribution, but no more- since I have two 401k's now, both with matching, one vested 100%, this one vested 0%

And still have my SEP-IRA, and my Roth, and my HSA to fund this year too
 
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stevezissou

OT Supporter
Jul 15, 2009
41,877
US
immediately their audience is identified, it's people who are so fucking clueless they don't realize they have an idle 401k at an old employer

or people who don't understand why their money is in a 401k somewhere, or what they should do

They aren't after you or me with that video

I just started a new client/role and it's W2, and they automatically enrolled me in their 401k program, I got my first paycheck today, and they took 3% out pre-tax and I still do not have any access or information for the 401k provider or plans available, so I can see how a lot of sheep may end up having a ton somewhere they don't even understand or realize

I get to do some fun math to figure out my withholding percentage so I can maximize the match and contribution, but no more- since I have two 401k's now, both with matching, one vested 100%, this one vested 0%

And still have my SEP-IRA, and my Roth, and my HSA to fund this year too
Just make sure you stay on top of you only have one annual limit of $22,500 deferrals on 401K contributions.

Cliffs = no matter how many jobs or how many 401K's you can only "Defer" $22,500 for 2023.
 

993kgt

building an airplane whee
Nov 7, 2001
17,360
Destin, FL
Just make sure you stay on top of you only have one annual limit of $22,500 deferrals on 401K contributions.

Cliffs = no matter how many jobs or how many 401K's you can only "Defer" $22,500 for 2023.

Yeah, the problem is the first role, I'm W2 but I am hourly, so I don't have a set pay amount...it comes in waves based on project load or how much work I do for them, hard to pick a contribution % of an unsteady number

They match up to 6% but whatever they match is 100% vested immediately, so in theory I should watch a dollar limit until I get the full benefit there

The second role is new, I don't know that I like the company yet, and I don't qualify for the match until the first 6 months of service, after that, it vests on a 5 year schedule, but it's .75 cents on the dollar, so if I contribute $10k, they match with 7500, that's great....I should not avoid that

But in this industry, 5 years is an eternity.....I don't see myself with them that long at all, so who knows what to do? I was going to avoid their 401k altogether but they auto-enrolled me in it

Oh another fun fact, they are SEC/FINRA regulated, so they are asking for copies of my brokerage statements, and I'm kicking and screaming and resisting, I refuse, and I will likely resign over this

It was not disclosed to me as a requirement when I joined or was recruited, it's so dumb too, they want everyone, even their janitors and consultants to adhere to the FINRA regulations
 
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