Stocks

[Lucas McCain]

Originally Posted by golferguy55

Lucas I do think that the sanctions will have some impact on WF but not enough to make a huge difference. Currently they are trading at 31.71 so my 23 buy in is looking better every day.��

You are good dude. I mentioned them for a reason. I'm no financial advisor but like I said, their balance sheet is clean and they are undervalued.

Congrats for having another big day with them.

Originally Posted by Chung Tran

you the Man Chung!

you the Boy Lucas!

LOL. You just can't let your dislike for me go. Stop being a baby. I'm not that serious for you to care so much about. Yeah, I've given you a hard time in the past; get the fuck over it and move on.

We both know that I don't care that I hurt your pussy in the past. Again, get over it.

[Chung Tran]

Originally Posted by Lucas McCain

LOL. You just can't let your dislike for me go. Stop being a baby. I'm not that serious for you to care so much about. Yeah, I've given you a hard time in the past; get the fuck over it and move on.

I don't dislike you.. you are changing the subject away from your disgustingly poor financial advice

your posts that I highlighted are great comedy fodder. an Investment Banker looking like a total Tool, LOL

[golferguy55]

[QUOTE=Lucas McCain;1062079976]You are good dude. I mentioned them for a reason. I'm no financial advisor but like I said, their balance sheet is clean and they are undervalued.

Congrats for having another big day with them.



Yes I have made some good $ from my WF investment as well as some others. Like you I have a degree in Accounting and a MBA in Finance but chose a different career path that allowed me to retire in my 50's with no financial worries so I enjoy dabbling in the market.

[Lucas McCain]

golferguy, enjoy the ride.

Good for you for retiring in your 50's. I always told myself that I would retire on my 50th birthday. Unfortunately, my kids all make good grades and with the tuition prices of colleges, I've moved that date back a bit. I wish I had JUCO kids. LOL

CT, I can't out post you. I've gone back and forth with you enough. I already post too much on this board. Good luck with your investments.

[golferguy55]

Originally Posted by Lucas McCain

golferguy, enjoy the ride.

Good for you for retiring in your 50's. I always told myself that I would retire on my 50th birthday. Unfortunately, my kids all make good grades and with the tuition prices of colleges, I've moved that date back a bit. I wish I had JUCO kids. LOL

CT, I can't out post you. I already post too much on this board. Good luck with your investments.

And yes Lucas I have enough outside interests that has made retirement pretty enjoyable. But you are so right about the cost of college as it is out of sight. Fortunately 1 of my kids had a free ride academic schloarship and the other a sports full ride. Law school and medical school for each of them did cost a pretty penny though.

[Lucas McCain]

Dude, you are a better man than me with your kids. I'll pay everything for their undergrad degrees for them, but that's it. But in your case, you saved with undergrad so I can see why you paid for advanced degrees... sounds like you have some pretty impressive bright and extremely talented kids. You should be proud. And they better spoil you rotten on Father's Day because you and their mother did a great job.

My kids say they want to go to the university I went to for undergrad. That scares the shit out of me. Who the fuck knows what the tuition will be like then? I'm wearing orange UT shirts just to make them want to go there. I want no part of paying for Ivy League tuition. UT is a good school. Why not save your dad a few bucks?

[golferguy55]

Originally Posted by Lucas McCain

Dude, you are a better man than me with your kids. I'll pay everything for their undergrad degrees for them, but that's it. But in your case, you saved with undergrad so I can see why you paid for advanced degrees... sounds like you have some pretty impressive bright and extremely talented kids. You should be proud. And they better spoil you rotten on Father's Day because you and their mother did a great job.

My kids say they want to go to the university I went to for undergrad. That scares the shit out of me. Who the fuck knows what the tuition will be like then? I'm wearing orange UT shirts just to make them want to go there. I want no part of paying for Ivy League tuition. UT is a good school. Why not save your dad a few bucks?

Well Lucas I must admit that my kids did turn out pretty well no thanks to their mother who left when they were young and never wanted much to do with them until the last few years to no avail. I happily raised them as a single father.

And yes I bleed burnt orange as I am a proud Longhorn alumni but could not talk either kid to go there. The attorney did her undergrad at Stanford and then Stanford law school. Her sister went to Texas Tech and then medical school at UT Southwestern so at least she has some Longhorn in her. But yes they always do take care of good old dad on Father's Day.

[Lucas McCain]

That's very impressive. Again, you must be proud and sad to read that they hardly had their mother in their life.

Much props to you for stepping up for them my friend. I'm sure it was a journey but considering their success, you did just fine. Good for you and them and thanks for sharing your story. As a man, you took care of your children. Many men don't. I applaud you for taking care of your responsibilities and raising such successful children. You should walk around with a lot of pride because you earned it.

This is a stock thread, but you invested your time and money in your children and that's how you properly invest.

[Texas Contrarian]

.

Originally Posted by TexTushHog

Lucas makes a good point when he mentions capital gains taxea (as well as the NIIT). The majority of my investments are in taxable accounts because of the limitations on how much you can contribute to tax deferred retirement accounts. And most of it is in mutual funds that I've had for literally decades. I've added to them, escpially in the 1990's and early 2000's, but if I were to sell now, I'd pay a very, very larges sum in taxes. Of course, percentage wise, it's not really that bad, but you see the number by itself, it encourages you on some subliminal level to keep those index funds in place. And the greater your gain, the harder it seems to be to pull the trigger.

I think a lot of readlly har core buy and hold (and hold, and hold) investors are just going to ride the thing out just because they don't want to write a big tax check. And if you belive 1) in index funds effeciency; and 2) that you can't really time the market; that's probably the correct thing to do.

But I'm not pessimistic about this rally. I don't think I'd rush out to put more money in the market, but I'm comfortable where I am. There are huge forces that don't want to let the market tank during an election year. And I think that the underlying fundamentals of the economy are coming back a bit faster than some people anticipated. Meanwhile, there's some very early suggestions that perhaps COVID is somewhat transmision is adversely effected by heat, which was by no means a foregone conclusion. So that may -- MAY -- postpone the second wave just a bit. And finally, coprorate profits are going to be aided by the reduction in employment in the big business sector.

Agree with you on the tax issue, as I have added very little to my equity holdings since 2010-2011, and sold nothing. (Dedicated bargain hunter and deep-value contrarian investor here.) I and many people I know are, like you, strongly disincentivized to sell with the capital gains tax rate at 23.8%. By contrast, it was 15% at the time, so it was much easier to push the "sell button" in 2006-2007 when we had enjoyed a nice run-up after the 2000 post-dot-com selloff. (I'm glad, too, because that gave me a lot more chips to play after the 2007-2009 steep cliff-dive!)


Although there are currently risks and uncertainties (to say the least!), I agree with you that powerful forces drive markets during an election year, and think that's especially true in our bitterly divided political climate in which the stakes are particularly high.


One thing that's probably been said millions of times over the course of many years: For most investors, especially those who are in mid-career (or earlier), dollar-cost-averaging on a steady basis and holding for a very, very long time is the simplest and best strategy. What the market will do over the next two or three years is anybody's guess, but it's virtually certain to do you very well over the next 20 or 30.
.

[TexTushHog]

Originally Posted by mensisio

What stocks should a beginner buy?

None. You should buy a low cost stock index mutual fund.

[Chung Tran]

Did anyone in this thread mention Boeing?

I did, a year ago. Just so happens I have the last 12 months' performance handy. Up 68%.. Shucks, lucky I guess.

https://www.marketwatch.com/investing/stock/ba

It is harder today, so many stocks are extended. Buy Magna, and hold. In 5 years you will have made serious cash.

[billw1032]

Originally Posted by TexTushHog

None. You should buy a low cost stock index mutual fund.

This!! For something like 30+ years I put a fixed fraction of my salary into a 401k/IRA invested mostly in low cost index funds. I just left it alone and didn't monkey around with moving money between funds except for once or twice doing a little rebalancing. 35 years later I had a nice tidy sum to fund retirement. Dollar cost averaging, a long term horizon, and keep hands off are the surest way. AFTER you do that, if you have some extra money to play with you can try some other things. If you REALLY want to buy individual stocks, I'd start with some on the S&P Dividend Aristocrats Index list. Those are companies that have increased their dividend consistently over 20 to 25 years or more, indicative of good management and long term growth. Nothing flashy or fancy there and nothing that would appeal to the day traders, only long term investing. If you want to do something slightly more risky and potentially make some more money, buy some of those and then look into writing covered calls. A fairly conservative strategy, but know that you're taking on a little more risk, though.

Originally Posted by Chung Tran

Did anyone in this thread mention Boeing?

I did, a year ago. Just so happens I have the last 12 months' performance handy. Up 68%.. Shucks, lucky I guess.

Boeing? OMG NO!! I can't think of a better example of bad management (acquired from McDonnell Douglas) turning a great engineering company into an almost unsalvageable wreck. They've got a long list of problem programs on their hands and I can't think of anything they've done right recently. In addition to the 737 Max nightmare, they now have 787 deliveries stopped because they can't figure out how to do inspections to the FAA's satisfaction, the KC-46 that doesn't meet Air Force requirements because it can't properly deliver fuel and will take 5 years to redesign the vision system for the boom operator, and their Starliner is way behind schedule and upstart SpaceX already beat them to the Space Station. Seems like they can't do anything right there. Why would you invest in that?

[TheWanderer]

Originally Posted by TexTushHog

None. You should buy a low cost stock index mutual fund.

3 years ago, I invested a decent amount in GFAFX-Nasdaq. It's American Funds The Growth Fund of America Class F-1
At that time it was $30-40/share. Flat at times but slow and steady growth has it at $71.89 this morning. Pays dividends too.
Look at their 5 year history. There are some dips but definitely an upward trend.

[dallasfan]

Think market is getting close to a correction. The S&P has been pretty much flat since mid April.

Everything seems high and overvalued right now.

Jobs report was good. Unemployment looks good. Government may be easing on it’s support. Everything is expensive as hell right now. Lumber, food, labor, etc. Taco jobs are paying $15-20 per hour.

Hard to time but I think next few weeks should be interesting. Few of my stocks popped recently so I cashed out. Went to 70% cash in anticipation. Think they got pumped up to give short more room to bring it down.

Market falls, followed by crypto correction. Bears are shorting the highly margined stocks like Tesla in anticipation. Waiting for the snowball effect.