sswan11

My dad is a 90 year old neurologist who is still working. We (his kids) have to drive him to work, as he has macular degeneration, but he still practices (at a large teaching hospital).

AGN - merger with PFE goes through

Icahn and Pickens reminisce and talk about "eventual" oil price recovery:

AAPL Jan 2017 LEAPS

For US citizens, get ready for more: http://www.bloomberg.com/news/2015-01-18/obama-tries-tax-cuts-on-rich-again-offset-by-new-breaks.html He would increase the top tax rate on capital gains and dividends to 28 percent from 23.8 percent. The rate was 15 percent when Obama took office in 2009, meaning that he’s proposing to almost double it over his two terms in office. He would also impose capital-gains taxes on asset transfers at death, ending what the White House calls “the largest capital gains loophole.” Under current law, assets held until death aren’t subject to those levies, creating an incentive for wealthy people to hold onto them. Heirs only have to pay capital-gains taxes when they sell and only on the value above what the assets were worth at death.

I'm applying for 1st mortgage for house I bought in Seattle yesterday. Here are yesterday's Bank of America "best" rates. I'm trying to decide what mortgage term to choose: 30 year fixed: Was 3.875% with $944 credit. It’s now 3.875% with $2,657 credit. Or you could do 3.750% at only $424 cost. 15 year fixed: Was 3.125% with no cost or credit. It’s now 3.125% with $1,052 credit. 7 year ARM: Was 3.375% with no cost or credit. It’s now 3.375% with $944 credit.

Super-rich make last stand against California drought In one of America's richest towns residents are paying more than ten times the going rate for water in a desperate attempt to stave off California's "epochal" drought http://www.telegraph.co.uk/news/worldnews/northamerica/usa/11094232/Super-rich-make-last-stand-against-California-drought.html

Looks like Roth IRA rules may be changing: Beware Leaving a Roth for Heirs Idea Makes Sense, but New IRA Rules Could Make the Decision Harder http://online.wsj.com/articles/should-i-leave-a-roth-to-my-heirs-1410120116?mod=e2tw

record # of US citizens renouncing due to taxes, but there's an exit tax: To leave America you generally must prove 5 years of U.S. tax compliance. If you have a net worth greater than $2 million or average annual net income tax for the 5 previous years of $155,000 or more (that’s tax, not income), you pay an exit tax. It is a capital gain tax as if you sold your property when you left. At least there’s an exemption of $680,000. Long-term residents giving up a Green Card can be required to pay the tax too. See High Cost To Go Green: Giving Up A Green Card. http://www.forbes.com/sites/robertwood/2014/08/07/many-americans-renounce-citizenship-hitting-new-record/?google_editors_picks=true

Re LUK 1/15 puts: They do show up in Think or Swim (TDAmeritrade), but are "non-standard" 09:22 me: get a msg when I try to trade these that they are "nonstandard"? 09:22 me: .LUK2150117C25 09:25 p.espinosa: hi. the reason they are non standard is that upon exercise, the LUK Jan15 options would deliver 81 shares of LUK instead of the standard 100. non standard adjusted options such as LUK Jan15's can run into liquidity issues, as traders normally just trade the standard option contracts 09:28 p.espinosa: the non standard split adjusted options need to be priced off of this: LUK stock price x .81

Whitney Tilson just posted these: https://www.hightail.com/dl?phi_action=app/orchestrateDownload&rurl=https%3A%2F%2Fwww.hightail.com%2Ftransfer.php%3Faction%3Dbatch_download%26batch_id%3DelNKUXVnUzhtUUc5TE1UQw

I like Google Finance graphs better and options ladders. Otherwise I like Yahoo Finance. So I switch back and forth!

t seems WA state has GET program. ( http://www.get.wa.gov/ ) Have you checked this out? Thanks for the tip - I did take a look - was advised that the guaranteed return program is "underfunded", so they price in tuition amount > current tuition costs to "catch up" and this trend may continue. I was also hoping to get a higher rate of return (which I think Fairholme Funds would provide!)

Any recommendations on mutual funds for 529 plan? (Apparently Fairholme isn't an option) Thanks!

Also there are some weird gift tax rules for 529 plans (from same Merrill site): Withdrawals for qualified higher education expenses are tax free. There are no income restrictions on the ability to contribute and typically no annual contribution limits, although annual contributions of more than $14,000 ($28,000 when made jointly with a spouse) may require filing a federal gift tax return (and in certain cases, could cause you to be subject to federal gift tax). You may contribute five years' worth of gifts all at once, or $70,000 per beneficiary, without triggering the federal gift tax. Merrill gives you $50 to open a 529 plan, but its administered by the State of Maine (?!)

looks like Coverdell accounts aka Education IRAs have a MAGI limit of $110K: Coverdell Education Savings Accounts (formerly called Education IRAs) allow you to set aside money each year toward a child's education. The contribution limit is $2,000. Withdrawals for qualified education expenses are federal (and possibly state) income tax free, and account balances can be transferred to siblings without any tax consequences so long as it is done prior to the previous beneficiary's 30th birthday and the new beneficiary is under the age of 30. While tax benefits make these accounts attractive, the low contribution limit may not provide enough money to pay for college. Unlike state-sponsored plans, income limits apply for eligibility. Only single filers with modified adjusted gross income ("MAGI") of less than $110,000 and joint filers with MAGI of less than $220,000 are eligible to contribute. http://www.merrilledge.com/article/section529plansinvestingforcollege

I'm trying to decide on which vehicle is better for my 9 year old (I live in Washington State). I understand that UGMA can impact college financial aid (reducing aid) -- otherwise are there recommended brokers for 529 plans and what are advantages/disadvantages? Can you buy securities/LEAPS in 529 plans? Thank you in advance for any advice.

How does society benefit from people who are compounding capital in secondary markets? ::) Investment is just reallocation of wealth? I believe the economics theory answer is that resources are allocated to more efficient users of capital (ie better businesses), thus making the economy as a whole more efficient and the economic "pie" larger.

Here's a more lengthy article. I wonder if he gave more than Melinda Gates, whos name is on the front of the hospital when you walk in? http://pulse.seattlechildrens.org/a-dedication-to-pediatric-research-the-man-behind-the-largest-charitable-gift-in-seattle-childrens-history/

By the way, my son goes to Seattle Children's Hospital, so I'm appreciative!

His retirement home was also one of the more upscale ones in the Seattle area, for what its worth. It doesn't sound like he was living like a miser...

Today trading over $82/share on strong earnings. Quadruple since 2010!

I have accounts w/ both IB and now ThinkorSwim. IB is much cheaper, but harder to use and phone support is curt at best. Agree with Spekulatius' comments...ps, how do you import statements into Turbotax - I thought IB discontinued that capability?

How about Fannie and Freddie preferreds?

Dinnertime or weekends are best for me also. I live in Seattle and would likely need my 9 yr old along.