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UnfurledSails posted:Literally an ETF that tracks buzzwords lmao Oh get me the gently caress in
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Jan 16, 2021 17:34
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UnfurledSails posted:Literally an ETF that tracks buzzwords lmao Most rational investment strategy at this point.
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Jan 16, 2021 18:49
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Just got my tax documents from TD Ameritrade and now I'm embarrassed to send all my lovely trades to my accountant. I know she's going to judge me. Re: estimated taxes, just check out this page. I only started doing them when things changed at work such that I needed to be doing it, I never bothered for the small amount of dividends I was receiving before.
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Jan 16, 2021 18:50
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I had to mail like 40 pages to the IRS just for RH last year. This year it will be hilarious with RH and two Schwab accounts being actively traded. No idea if anyone actually reads any of it unless I make real money doing stuff.
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Jan 16, 2021 18:56
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I would imagine there's limits to dictate attention. Say if you're over XXXX amount of dollars someone audits your paperwork. If it's YYYY dollars they just confirm you have the last number right, if it's QQQQ dollars they chuck it in the garbage, and maybe in your case it triggers the "pin it up on the lunchroom wall and make fun of it" clause.
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Jan 16, 2021 19:05
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That's what I assume. I don't think I will ever be on their radar.
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Jan 16, 2021 19:07
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Tax talk: 1) eTrade should be generating those documents for me, right? 2) I have a full-time job and just side hustle with day trading (but not usually day trading but def not holding positions for more than a couple months tops). With that information is it safe if I just sock away 25% of anything I withdrawal for tax purposes and stick it under my mattress until tax time? (25% is my FIT bracket). 3) Is the TLDR of hobby trading that I only pay taxes on realized profits? Example I deposit 10k for hobby trading, run it up to 15k over the year of 2021, I owe some percentage of that 5k? I am probably going to schedule a call with a CPA just so I don't get burned doing something stupid I am just trying to wrap my head around the rules.
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Jan 16, 2021 19:24
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cr0y posted:Tax talk: From what I understand, you only pay taxes on realized gains, like you said - which means you're taxed only when you sell the stock (or options) and you make a profit.
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Jan 16, 2021 19:35
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Bored As gently caress posted:From what I understand, you only pay taxes on realized gains, like you said - which means you're taxed only when you sell the stock (or options) and you make a profit. I guess the confusion is, *when* do you pay those taxes, let's say on day 1 I day trade stock A and make $500 from $1000 investment (opens and closes the position the same day). The next day I try the same thing and lose 500, is my tax liability for the year at that point zero, or $500?
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Jan 16, 2021 19:41
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cr0y posted:I guess the confusion is, *when* do you pay those taxes, let's say on day 1 I day trade stock A and make $500 from $1000 investment (opens and closes the position the same day). The next day I try the same thing and lose 500, is my tax liability for the year at that point zero, or $500? Your tax liability is for the net profits of all your trades and portfolios together due when the rest of your taxes are due (e.g regular income, estimated taxes, etc.) TaxAct Blog posted:When to make estimated tax payments Girbot fucked around with this message at 20:10 on Jan 16, 2021 |
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Jan 16, 2021 20:05
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Anyone here invest in preferred stocks (likely in a tax-advantaged account)? If so, why -- what's your strategy or plan when buying them? I've been examining the PFF ETF, iShares Preferred and Income Securities ETF https://www.ishares.com/us/products/239826/ishares-us-preferred-stock-etf ...and I'm not quite sure what I think of it just yet. Its performance and volatility in the past 6 months is basically halfway between intermediate-term corp bonds and stocks: https://stockcharts.com/freecharts/perf.php?SPY,PFF,VCIT,VYM&n=126&O=011000 but, it had just as much downside as relevant stock funds during the March crash: https://stockcharts.com/freecharts/perf.php?SPY,PFF,VCIT,VYM&n=260&O=011000 So why do people want preferred stock funds, exactly? I'm sure there's something to this but I'm just not sure what. Maybe a living-off-dividends in retirement thing with a little more principle protection than common stock? But if the entire economy tanks so hard that it matters for your diversified preferreds fund, well, you're probably screwed anyway.
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Jan 16, 2021 21:04
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Relevant for this thread I think, something I posted in the EV thread:Ola posted:Something of a bombshell which has been out for 10 days, I hadn't picked it up. Waymo has opened a tiny hissing valve on the overinflated air mattress of self driving, which has been bursting at the seams for some years and which I and many others ITT has been talking down. Choice snippets:
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Jan 16, 2021 21:48
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Ola posted:Relevant for this thread I think, something I posted in the EV thread: TL:DR; what stock do I buy?
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Jan 16, 2021 21:52
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Girbot posted:Your tax liability is for the net profits of all your trades and portfolios together due when the rest of your taxes are due (e.g regular income, estimated taxes, etc.)
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Jan 16, 2021 22:03
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Josh Lyman posted:This only applies if stock trading is your primary source of income since you don’t have an employer withholding taxes from your paycheck. So what if it's just a side hustle?
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Jan 16, 2021 22:08
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cr0y posted:So what if it's just a side hustle? You just pay at the end of the year when you do your normal taxes.
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Jan 16, 2021 22:10
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cr0y posted:So what if it's just a side hustle? Then you have to pay taxes on it like it was normal income at the end of the year. e: ugh
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Jan 16, 2021 22:10
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What if I just don’t want to pay taxes
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Jan 16, 2021 22:15
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drunken officeparty posted:What if I just don’t want to pay taxes Well I don't think anyone has ever tried that before
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Jan 16, 2021 22:16
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Sand Monster posted:TL:DR; what stock do I buy? Ah yes, the age old question!
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Jan 16, 2021 22:23
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drunken officeparty posted:What if I just don’t want to pay taxes Are you a bad enough dude to fellate the president?
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Jan 16, 2021 22:36
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Ola posted:Are you a bad enough dude to fellate the president? Pence ain't gonna let anyone do that to him.
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Jan 16, 2021 22:41
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LLCoolJD posted:Ah yes, the age old question! Just buy all of them.
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Jan 16, 2021 23:06
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FreelanceSocialist posted:More brain exploding: I remember correctly, if you made everyone aware of the phenomenon and then asked them to guess, it fucks the whole thing up. My assumption is that you can trawl the internet for answers/datapoints/tips/suggestions that can then be averaged out, independent of the people who gave you those answers knowing you had even asked them a question. I’ve had that beans video in the back of my mind for a decade, and shortly after I watched it the first time I did a little experiment. I wanted to see if I could use it to predict the outcome of a Superbowl, so I sourced about 30 predictions from as many TV anchors and online sports commentators as I could find and averaged them all out. The resulting scores themselves were wildly off, but my point spread was 0.4 above the actual end game result. Averaged down to the nearest point I assume I could have made money with that information but I don’t know poo poo about sports or betting, so I’ve been waiting for something else to try it out on. Fast forward to 2020 and I get into the stock market. My first goal: Use the crowd wisdom beans video method to pick a stock based on online chatter and see what happens. I landed on HCAC at $13.60 at the end of November so I dropped $4k into it. Fast forward like 10 days and it was worth just under $7k. I hadn’t really done my homework on SPACs at that time so I stuck with it through the merger and ended up selling for $5k on the way down, but that mattered less to me than that the method actually payed off, however bizarre it seems.
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Jan 16, 2021 23:08
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Josh Lyman posted:This only applies if stock trading is your primary source of income since you don’t have an employer withholding taxes from your paycheck. What if CCIV MOONS and I make more than my job for the year
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Jan 16, 2021 23:10
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wet_goods posted:What if CCIV MOONS and I make more than my job for the year then we buy train tickets to meet somewhere in the middle and hug
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Jan 16, 2021 23:13
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FistEnergy posted:then we buy train
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Jan 16, 2021 23:37
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drunken officeparty posted:What if I just don’t want to pay taxes Do it with money in a roth
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Jan 16, 2021 23:51
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wet_goods posted:What if CCIV MOONS and I make more than my job for the year i dunno but we're about to find out, inshallah
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Jan 16, 2021 23:55
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If I forgot to report gains on one of my accounts a couple years ago of like 1-2 hundred, should I continue to ignore it or can big fees pop up years later for something that small?
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Jan 17, 2021 00:12
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Rolo posted:If I forgot to report gains on one of my accounts a couple years ago of like 1-2 hundred, should I continue to ignore it or can big fees pop up years later for something that small? It's fine, just don't run for public office.
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Jan 17, 2021 00:14
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UnfurledSails posted:All aboard on $MOON now thats cash money
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Jan 17, 2021 00:35
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Smythe posted:now thats cash money You laugh but it's up 30% since November, $50 moon calls 4/1
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Jan 17, 2021 03:17
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wet_goods posted:You laugh but it's up 30% since November, $50 moon calls 4/1 oh i aint laughing. i'd like to take you up on that dd but for some reason robinhood doesnt give me options on this thing. ??
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Jan 17, 2021 03:26
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Last time I filed taxes, I recall it was very easy to just punch in the numbers of my limited stock gains/losses. This time around I've been doing a lot more trades and have a lot more realized gains, across multiple brokerages. Is anything about this going to be way more complicated? Or is the only complication that I owe more taxes?
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Jan 17, 2021 17:40
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Rolo posted:If I forgot to report gains on one of my accounts a couple years ago of like 1-2 hundred, should I continue to ignore it or can big fees pop up years later for something that small? It's fine, at worst youll eventually receive a notice with $xxx of tax due with interest, but that's really it. Not worth amending.
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Jan 17, 2021 17:56
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I've found taxes are a lot easier when you just ignore them, the IRS will send you a big red letter saying what you owe and exactly how to pay it. #LifeHacks
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Jan 17, 2021 18:34
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no comments on my preferred stocks / etf post from earlier in the weekend? darn, ok. I shall continue posting random thoughts about ETFs anyway! As you've all probably heard, Cathie Wood and her ARK crew are launching ARKX (space exploration) in about 70 days. Shares of stocks like SPCE rose bigly after the announcement, people hunted down her japanese space etf holdings on twitter, https://mobile.twitter.com/ericbalchunas/status/1350468882281205761?s=21 and people "rediscovered" the holdings of space ETFs like UFO and ROKT. ARKX is expected to get massive inflows so people are front-running it. In the same bloomberg interview where she mentioned wanting to launch a space ETF, she also discussed wanting to launch a sustainable development ETF. So it's quite likely that in the next year or two you'll have another etf on that coming down the pipeline (link goes to 30m53s timestamp): https://www.youtube.com/watch?v=kfhgbZBWgBE&t=1853s now, the meme people on reddit have just been saying to buy ICLN or TAN to front-run that, saying it'd be another clean energy fund. but that's not only what SDG is. this is a google-able problem and two ETFs already exist in the space. one is tiny and weird and let's just ignore it: https://impactetfs.org/sdga-etf/ but the other is a no-poo poo ishares ETF tracking a MSCI index: https://www.ishares.com/us/products/283378/ishares-msci-global-impact-etf-fund (SDG) https://www.msci.com/msci-acwi-sustainable-impact-index (methodology here -- very interesting read) real mix of holdings in it. only 29% USA, and it hits every sector pretty heavily except tech and communications. Its top holding is TSLA (that percent will go down during quarterly rebalancing due to the index method), so it's naturally the one an ARK SDG fund will be compared to. SDG has outperformed the S&P 500 over pretty much any relevant timeframe you pick in the last year. Pretty nifty. If you want to hold for a year or so to front-run another ARK ETF, this is it. And you can feel "good" about holding it too, it's ESG as gently caress as you might imagine. Enough daily volume to be liquid enough to buy, helped by the fact that it's a blackrock ETF. Current p/e ratio is only 20.
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Jan 17, 2021 20:29
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now let's talk a bit about alternatives to market-cap weighted "value" factor investing. what if you still seek to find good, conservative investments instead of trendy growth stocks or strict market-cap weighting but don't believe in the value factor as calculated by MSCI or CRSP. is anything else out there? the answer is yes. one is a well known RAFI "fundamental" weighted index (this is available for a few markets but let's just discuss US large caps): Schwab Fundamental U.S. Large Company Index ETF FNDX: https://www.schwabfunds.com/products/fndx, over $5.6b AUM. Huge. unique set of holdings: AAPL at the top, like most market-cap funds, but it's followed by XOM and JPM. Really heavy on energy and financials overall. It's been great in the rebound since last summer, but on a many-year timeframe has rather sucked as its energy stocks have lagged the broader market. Still, there are developed and emerging market ETFs from Schwab with the same methodology and high AUM, so it's a nice tool for a toolbox. Could still be a good recovery play this year. More interesting and the motivation for the post is this little guy I just came across, DSTL: https://distillatefunds.com/dstl, $236m AUM. Small but should be profitable so it's probably not going away anytime soon. Its methodology is in the prospectus, https://distillatefunds.com/dstl/prospectus: quote:Distillate U.S. Fundamental Stability & Value Index Essentially, they try to combine "quality" and "value" factor investing. The fund's weighted overlap with SPY is only 20% according to https://www.etfrc.com/funds/overlap.php. So it's not the S&P. It's also not the first ETF to use free cash flow as a factor (see also: COWZ, TTAC, neither of which I really like). Its ER is only 0.39%, which is reasonably low for small-ish specialty ETFs. But how does it perform? Well, since inception over 2 years ago it has kept pace with or outperformed the S&P 500 and ishares' US quality and value factor ETFs every step of the way: https://stockcharts.com/freecharts/perf.php?VOO,DSTL,QUAL,VLUE&n=561&O=011000 Gotta admit, I'm kinda impressed. Their top holdings right now are: JNJ, UNH, INTC, WMT, GOOGL, HD, PG, CSCO, AMGN, and AVGO. Surprisingly, compared to SPY, they're most underweight in financials. I would've thought they scored well on those cash flow metrics but maybe the banks score poorly on their debt metric and they don't compensate for banks having a different business model than, say, JNJ. Anyway, if you're looking for an ETF with large caps that don't have sky-high p/e ratios and don't want to be kept out of tech by "value" investing, DSTL seems like it's worth a look. What do you all think of these ETFs?
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Jan 17, 2021 20:56
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First of all, awesome effortposts. Even though I don't often respond, I do read all of them, and each one gives me either something to think about or something to stick on a watch list. Thank you. I almost think that these might apply just as equally, if not more so, to the long term investing thread than this one. This thread has a reputation for being the "gambling" thread, and if I'm gambling, I'm likely focusing on one or two individual stocks at a time, or a small subsector like the SPACs that have gotten a lot of posts recently. The main thought going through my head as I read your last two posts are that these are options for longer horizon money as an alternative to S&P500/Nasdaq100 index funds. DSTL in particular may be a rival for me for traditional IWM/FXAIX/QQQ medium term target funds. None of what you posted are adrenaline, check 5-minute candle instruments that are the hallmark of daytraders, but at the very least it could be an interesting place to put money that's not currently being used in one of those plays. With short-term savings account rates cratering the past few years, these might be a good place to chase quasi-passive returns.
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Jan 17, 2021 21:34
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