Stock market on fire

[The Heretic]

Very little of which is his own, nor which he is committed to pay back personally.

That is one reason he is so rich.

Explainer: How Elon Musk funded the $44 billion Twitter deal

Elon Musk on Thursday closed the $44 billion deal announced in April to take Twitter Inc private and took ownership of the influential social media platform by firing top executives immediately.

www.reuters.com

I wouldn't say very little of it was his own.

But IMO, whether it was his own money or others, he just basically "set it on fire". I doubt Twitter will survive in any meaningful way.

 

[The Heretic]

Tesla stock has dropped more than 35% since Elon Musk first said he'd buy Twitter

The world's richest man has a lot on his plate.

www.cnbc.com

https://edition.cnn.com/2022/11/05/tech/mastodon/index.html

 

[ma96782]

Meanwhile in China.

China iPhone factory quadruples bonuses to workers amid anger over Covid curbs

Apple supplier Foxconn raises daily bonuses to $55 to ease discontent after strict Covid measures prompted some workers to flee the site

www.theguardian.com

I heard today that the offer has gone up to $69 USD. Whatever, AAPL can afford it. BUT, But, but.....what is the latest about the CCP's Zero Covid Policy?

MSN

www.msn.com

Aloha, Mark

 

[ma96782]

Should I sell my AXP stock?

Aloha, Mark

 

[sobo]

Should I sell my AXP stock?

Given their anti-2A position, don't you think the question answers itself...???

 

[ma96782]

What a difference a day makes.

Wall Street Rally: Stocks surge on good inflation report - Boston News, Weather, Sports | WHDH 7News

Wall Street surged on its best day in years, with the Dow gaining nearly 1,200 points and the NASDAQ up more than 750 points.The rally<a class="excerpt-read-more" href="https://whdh.com/news/us-world/wall-street-rally-stocks-surge-on-good-inflation-report/">Read More</a>

whdh.com

The bad news is that the Dollar dropped a bit today against various Foreign Currencies. Yeah......in case you were thinking of a vacation in a foreign land.

Dollar exchange rates at DuckDuckGo

DuckDuckGo. Privacy, Simplified.

duckduckgo.com

Aloha, Mark

PS........
What were the numbers?

DOW closed up 1201 (+3.70%) = 33,715
S & P 500 closed up 208 (+5.54%) = 3,956
NASDAQ closed up 761 (+7.35%) = 11,114

 

[The Heretic]

What a difference a day makes.

Wall Street Rally: Stocks surge on good inflation report - Boston News, Weather, Sports | WHDH 7News

Wall Street surged on its best day in years, with the Dow gaining nearly 1,200 points and the NASDAQ up more than 750 points.The rally<a class="excerpt-read-more" href="https://whdh.com/news/us-world/wall-street-rally-stocks-surge-on-good-inflation-report/">Read More</a>

whdh.com

My IRAs increased by $19K today. But I am sure there will be a sell off soon too. I don't see the market steadily increasing anytime soon - but I hope I am wrong; some expenses have come up and I don't want to have to touch my IRAs at their current valuation.

 

[ma96782]

Comment on the recent bankruptcy filing of FTX.

"Never in my career have I seen such a complete failure of corporate controls and such a complete absence of trustworthy financial information as occurred here... this situation is unprecedented."

Taken from : https://finance.yahoo.com/news/kind-legal-trouble-ftx-sam-114000522.html?fr=sycsrp_catchall

Aloha, Mark

PS.......an opinion to consider?

Let crypto burn

Just say no to legitimacy-inferring regulation

www.ft.com

 

[ma96782]

Elizabeth Holmes sentenced to 11 years in prison for Theranos fraud

Ten months after she was found guilty of fraud, Theranos CEO and founder Elizabeth Holmes was sentenced to 11 years in prison.

techcrunch.com

Was it enough?

Nah. Not in my book.

Aloha, Mark

 

[bolus]

Graphs are fun.

 

[ma96782]

R U Ready.......for the 2022 - Santa Clause rally?
That is......IF we get one.

Anyway......
Through out the years, I've been hearing many of you saying........to read, watch and listen to, "Dave Ramsey".

Well, I have my own "favorites".

So anyway, I've never really sat through a full video from Dave Ramsey. I might start. But, I usually ended up listening to Warren Buffet or Jim Cramer. YUP, I find their words......to be "entertaining" while they are giving advice.

BUT, But, but......
Today was different.

I was listening to some other YouTube video, while also watching the market on CNBC. So, when the YouTube video finished......the audio for this video caught my attention......

Yeah.....I thought I might have caught a stand up comedian (at first). BUT, I sat through all of it. Then, I watched it twice again. NOW, I get why some of you.....might have almost a RELIGIOUS like following for his words.

Aloha, Mark

 

[sobo]

Yeah.....I thought I might have caught a stand up comedian (at first). BUT, I sat through all of it. Then, I watched it twice again. NOW, I get why some of you.....might have almost a RELIGIOUS like following for his words.

I'm not really big on religion for the most part, but Dave Ramsey does know how to hold an audience. And I don't mind the Scripture references, since I grew up on them, and it's good to be reminded of them from time to time. But I can't say it enough, how valuable the advice is that he gives to the "Everyman" American to get one's azz out of debt. Like he said in the video, it's gonna hurt, cuz you're gonna have to give up stuff that you think makes you look good to the neighbors. But remember, the neighbors are broke, too!

 

[ma96782]

12-15-2022/1055 hrs.

Oh well.......the market is doing a BIG DROP today.
So far, minus 930 on the DOW.
Perhaps, it's time to buy something?

Aloha, Mark

PS.......some music to go along with that?

 

[ma96782]

Was today (12-21-2022) the beginning of the Santa Claus Rally for 2022?

BUT, But, but......
What were the numbers?

DOW closed up 527 (+1.60%) = 33,377
S & P 500 closed up 57 (+1.49%) = 3,878
NASDAQ closed up 162 (+1.54%) = 10,709

Yeah......What do I know?
My IRA portfolio has a paper loss of about 20% since 12-31-2021. So, be cautious.

BTW........best wishes for a Merry Christmas and a Happy New Year.

Aloha, Mark

 

[bolus]

Fed owes us $18 billion this week. That's a pretty steep curve. They are going in the hole about $1.5 billion a week that they owe the treasury. I'm going to start charging them interest on what they owe me.

 

[ma96782]

Happy New Year 2023!!!

Now......have you planned for paying your "fair share of taxes" for 2022? And, perhaps it's time to think/plan for 2023?

2022-2023 Tax Brackets & Federal Income Tax Rates

If you submitted Form 4868 for a 2022 tax filing extension before April 18, your new submission deadline is October 16, 2023. America’s income tax rates are staying the same for the current tax season and next year's. But the tax brackets—the income buckets that are charged at progressively higher

www.forbes.com

Yeah......on paper......my biggest retirement portfolio 457(b) dropped by slightly over 20%. BUT, But, but......I might have some company.

Stocks fall to end Wall Street's worst year since 2008, S&P 500 finishes 2022 down nearly 20%

The major averages snapped a three-year win streak to end their worst year since 2008.

www.cnbc.com

Aloha, Mark

 

[The Heretic]

Now......have you planned for paying your "fair share of taxes" for 2022?

Yes, planned it out months ago - then revised the plan last month when I redid my taxes again and realized I could move more $ from my IRA to my Roth IRA and pay very little tax on the conversion. Altogether I will have a gross income of about $45K and pay maybe $200 in tax because only about $2K will be taxable.

And, perhaps it's time to think/plan for 2023?

I plan to sell my property this year, so I will need to pay tax on any profit over $250K - ouch!

 

[bolus]

I wonder how the Swiss national bank is doing? Lets look at profits from 2022

 

[bolus]

Fed owes us $22.5 billion this week. dropping 1-2 billion a week. highest liability in history. Anyone else seeing this?



is there a central bank that isnt pooping the bed right now?

Side note, I got an LLC IRA set up. Besides worthless fiat you can put precious metals, real estate and even crypto in them. All of you guys collecting gold and silver could actually be buying and storing them tax free. Something to consider. Unfortunately not firearms though...

 

[bolus]

Another week, another 2 billion the fed owes the treasury. Remember to ask your bank if they are happy with your donation to their CEO bonus fund