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Interest rates are only measures of comparative risk over the same term, we should compare that rate to a 5-year amortization home loan or find a rate for a 30-year car loan.
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Oct 18, 2018 02:34
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GoGoGadgetChris posted:Where can I find this please?? Google gives me this, but it isn’t really a 30 year car loan unfortunately(fortunately?). 2007.txt right here: http://allfinancialmatters.com/2007/02/24/do-you-really-want-to-finance-your-car-for-30-years/ Get ready for fantastic savings with a Combo Loan from Countrywide. Want to get cash and simplify your bills? Refinance with a Combo Loan from Countrywide. Consolidate your first mortgage, your second mortgage, your car loan and all your credit cards into one easy loan with one low monthly payment. Less than perfect credit okay.
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Oct 18, 2018 02:46
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No mention of how many kids, but $500 a month for 18 years at 4% real returns gives you almost $160k in today dollars, so not abyssmal if there is just one kid and college prices increase at inflation...
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Oct 18, 2018 16:09
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Hoodwinker posted:"I didn't think a payday loan would be too horrible." Oh agreed, if they are spending that much it is time to start saving for college for the grandkids.
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Oct 18, 2018 16:22
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potee posted:Once Fyre Festival happened I realized the only economy of the future is selling bullshit to the indolent offspring of the mega rich. Turns out I have a cousin who was stranded at Fyre! It was as much of a shitshow as a normal person reading about it from the rich person tweets would assume.
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Oct 19, 2018 05:10
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In commercial real estate our guys are generally not too showy. We lead our market but these guys drive their Lexuses and Mercedes past 100k miles and buy hosues that are less than they make in good years. At the same time, market is good, so we’ll find out who spent it all on hookers and nose candy soon enough.
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Oct 19, 2018 22:03
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GoGoGadgetChris posted:What aspect of CRE? Brokerage is flashy as hell, in my experience! I’m an appraiser so we don’t go flashier than Volvos, but the BSD brokers are pretty chill on the flashy car side. We’re one of the giant firms and in a top 20 metro, but our market is very much a not-showy market.
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Oct 19, 2018 23:25
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BEHOLD: MY CAPE posted:How does anyone succeed in commercial real estate without a 2018 BMW M2? Asking for a friend When all the taxpayer addresses in town are your family office/lawyer’s office. crazypeltast52 fucked around with this message at 02:19 on Oct 20, 2018 |
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Oct 20, 2018 02:17
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I need to look that up tomorrow. All the search links are the filings which I can’t read this late.
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Oct 20, 2018 06:55
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FAUXTON posted:it's a doozy and the only reason they pulled it off for as long as they did was that their retail bank had a goddamn idiot for a branch manager, who kept loving lying to the AML people because she didn't want to lose this massive (ly fake and fraudulent) business. Do you have a link to the DoJ indictment? Everything is locked right now.
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Oct 20, 2018 21:45
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Krispy Wafer posted:Office pools are the only time buying lotto tickets make sense. You spread the risk across a bunch of people and like you said, it’s insurance against eating a bullet after everyone quits and you’re the only person left. Or to be a plaintiff when the person running the pool “buys extra tickets for themselves and those were the ones that won, totally guys” Edit: I can spell today I guess crazypeltast52 fucked around with this message at 01:34 on Oct 22, 2018 |
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Oct 22, 2018 01:23
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FAUXTON posted:Nope, that's just what I recall from when I still had pacer access. If I knew where to find the complaint without needing pacer I'd be linking directly to it Control f “Lustig” in this finds a few things, sounds like a bit of a bucket shop even before whatever the current indictment has. There’s some BWM in there about James Lustig’s wife, who was some kind of heiress and ends up with this situation. https://books.google.com/books?id=N...0denver&f=false
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Oct 22, 2018 01:48
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FAUXTON posted:Wash trading is short term gwm, long term bwm because of who you're loving over. Screw retirees over with risky trading, nobody really cares. Screw other rich as hell fucks over by cheating more blatantly? Yeah they'll have the SEC pound your rear end for everything you own and then some. I can’t copy-paste out of the google books, but that book is from 2010 or something and includes a passage about Lustig’s father in-law pivoting to real estate in 1988 after selling the sporting goods chain founded by his father. Specifically developing stores for “fast growing retail chains like Blockbuster, Office Depot and Boston Chicken.” A good time to be doing that then, but that passage doesn’t age well in TYOOL 2018.
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Oct 22, 2018 02:11
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Either you pay rent to someone else and they collect rent from someone else, or you pay them for the unit. Either way both of your cash flows are the same. If you live there it’s a guaranteed tenant who is less likely to trash the place, but it is also a fraught situation. Presumably one bedroom in a 2BR in a worse neighborhood is cheaper than your current rent, but at what cost. As for people buying houses on campus, that seems like a great way to end up asking “which one of your friends broke/stained/destroyed X”. Which I guess probably matter less on resale because the buyer will have the same wear and tear. Plus social host liability!
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Oct 27, 2018 22:54
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Regrettably english uses prophetic instead of prophetable.
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Oct 29, 2018 15:37
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Or the perpetual favorite of oil and construction BWM, the Ford Raptor.
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Nov 2, 2018 22:13
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How does it go? Someone cried, Joe Pa lied, tree died, roll tide?
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Nov 6, 2018 07:04
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I saw a document notarized in Louisiana, apparently notary commissions for lawyers don’t expire until death. “My commission expires: ___upon death___” is interesting to read!
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Nov 9, 2018 03:15
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Torrens makes it interesting! I hope there are updates!
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Nov 9, 2018 03:19
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Well it’s torrens instead of abstract, so the state says A owns that piece of property, instead of abstract where A acqruired it from B acquired it from C who acquired it from the state. Brother Z should have had “A” sell the property to him after he acquired it the first time.
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Nov 9, 2018 03:29
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GoGoGadgetChris posted:$10,000 is the appropriate amount to spend on an engagement ring if it matters to her. The rule says salary, doesn’t matter that we’re effectively commissioned, rule says salary.
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Nov 10, 2018 22:36
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Wolfy posted:I have about $9000 in truck equity, should I roll that into a 2019 raptor? A+ do it twice.
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Nov 10, 2018 23:59
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Let people build, a developer always thinks they are the smartest person in the room and you’ll get cheaper housing prices if you just let them overbuild in good times.
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Nov 12, 2018 00:22
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Recourseful people are the best kind of people to make bad financial choices imo.
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Nov 14, 2018 20:40
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Harry posted:His lawsuit, which started all the questions, claimed he received $75k. So he basically hosed himself over $50k if they split it 3 ways. It’s an unstable arrangement, with both parties having blackmail power over the others with downside risk for the couple significantly above the downside risk for the homeless man. In the case of the couple, the downside risk is probably greater than the rewards, but the homeless guy would have no incentive not to push for more of the money given he has less downside as far as employment prospects or assets go. It would have been economically rational for them to pay him a payment stream equal in value to the potential loss of happiness that prison and unemployment would inflict upon the couple, but if the couple broke up, the whole thing could get uglier fast.
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Nov 16, 2018 19:33
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Harry posted:I disagree, because his downside risk was the $75,000 he got away with free. While the couple obviously should have paid him an equal share (assuming that was even the original agreement), he's now facing a hefty prison sentence entirely due to his poor choices. Which is of course shocking to hear about when describing a homeless man. By entering into this conspiracy with him, they create blackmail liability and honestly would have been NPV negative from that point on given the difference between the present value of their potential lifetime earnings before and after these charges relative to the money they scammed. He blew through his $75,000 and now has limited incentive not to defect and send them to prison with him if they don’t pay his shakedown. This only works out for the couple if he becomes a model citizen after receiving the money or fails to realize the leverage he has. He overplayed his hand in their negotiations after the funds were distributed, but that doesn’t change that they put themselves in this position by skimming from the GoFundme at all.
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Nov 16, 2018 20:44
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They only let me do $1,000 on the card, apparently they used to allow more and some people did buy new Toyotas with cards.
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Nov 21, 2018 21:44
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GoGoGadgetChris posted:How many of you have a Christmas Bonus / Year End Bonus as a substantial (let's call it more than 10% of your total compensation each year) part of your income? I wish we had content, but for us it is monthly so we are marginally better about it. I hope there are some good bonus BWM as I shitpost from the office on Friday.
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Nov 23, 2018 20:12
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FAUXTON posted:No but I've always wondered how easy it would be to set up an LLC to buy your own debt at pennies on the dollar some years after it's deemed all but uncollectable, and then report it as paid. After reading an article about debt collectors, I have to wonder how those companies are about paying bills because they of all people would know how to collect/avoid being collected on.
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Nov 26, 2018 20:04
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For those people in that neighborhood the switch to down coats might actually be GWM, they no longer have to maintain a collection of more expensive furs.
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Nov 26, 2018 23:54
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When you can issue debt in your own currency, the rules are different. Japan is running debt way above the US in terms of debt to gdp ratios, but can borrow in yen so they have low borrowing costs. Japan’s economic slowness is more about demographics than public debt.
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Nov 27, 2018 17:00
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Ixian posted:Leveraged buyouts are such a loving racket. "Hey, we're going to buy your company by giving it a loan meaning technically *you* pay *us* for the privilege, and which you, the company we're buying, will pay back on unfriendly terms. Also we'll probably sell that loan to someone else soon". I read an analysis of private equity returns in the 80s that indicated that it was mostly a tax arbitrage, using interest tax shields to juice equity returns, and asset returns were generally not too different before and the leveraged buyout.
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Nov 30, 2018 17:55
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Fine, but do it in a place that is a tropical paradise or something, not Des Moines.
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Nov 30, 2018 21:33
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Canadian mortgages are generally recourse, aren’t they?
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Dec 7, 2018 17:16
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Thankfully interest only or negative amortizing auto loans don’t exist yet. Please no one tell me they exist if they do.
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Dec 13, 2018 04:08
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The other thing about the next crisis is that even Lehman was solvent, just not liquid enough to handle the credit markets freezing up. So if intrabano lending can survive, it should be less bad than the last one. Edit: meant interbank, but interbano is too good to correct. crazypeltast52 fucked around with this message at 05:24 on Dec 13, 2018 |
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Dec 13, 2018 05:22
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bob dobbs is dead posted:guillotine the council, demolish all painted ladies, build 50 story concrete soulless apartments on the rubble This guy gets it.
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Dec 16, 2018 18:26
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GoGoGadgetChris posted:Mods are gambling, self posts are legal again Reply to my PM!
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Dec 23, 2018 22:28
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FAUXTON posted:I got those metal Tonka trucks instead I have toured the factory where they used to make these. It’s a self-storage facility now, but they have an exhibit up front with the old toys. Edit: we had them, they were legit at the beach and our sandbox.
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Dec 26, 2018 04:07
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Oh, that’s what powerwheels were. We had a blue jeep one. We drove the poo poo out of it, A+ would recommend.
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Dec 26, 2018 04:21
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