Red Lion

I bought CLPR today. This is an example of tax loss harvesting that actually worked. I sold my highest basis CLPR shares at between $5.82-$5.90 for a short term loss on May 26. Just replaced all of those shares today plus a little more (my limit price moved the market a bit I think because this is so illiquid, so it remains to be seen whether my full order fills).

When I started investing I would always double down, concentrate, grit my teeth and hope to sell off likely too soon once I got back in the black finally. Over the last several years I’ve been developing a strategy in my taxable account which has actually been outperforming my retirement account even before taking tax into consideration. I really look to sell my losers, preferably with short term losses and then try in most cases to hold onto my winners. I’m not above selling out for a short term loss and then trying to establish another position at a later date. I think this approach has led or will lead to holding onto some big winners longer. Ideally for multiple years or even decades. It’s also led me to closely scrutinize losers and try to sell at a short term loss and roll to a comparable investment. This blew up with META for me recently, but has worked more than it hasn’t.

39.

I have some October bear spreads on BAM more as a slight hedge than anything else.

I feel like this is an interesting summary of the JOE investment thesis right here. The two largest age cohorts have been moving to Florida AT THE SAME TIME for the first time in history between wfh/flight from urban blight, and this trend may continue for the next decade or longer climate change be damned.

The first time I had Poutine I realized I was meant to be Canadian.

Why not legalize drugs, sell them through pharmacies. Send people to rot for selling fake/adulterated drugs. This will cripple the cartels and organized crime, and put the pain and suffering on the backs of people putting up with the consequences of their own action. If someone gets addicted to coke, meth, heroin, etc. that’s on them. If they start stealing things or attacking people, send them to prison. I really hate the idea of the government taking away our personal freedoms just because some people are going to get addicted. Also I hate this woke nonsense of decriminalizing drugs and theft at the same time ala California or Oregon and then letting homeless drug addict thieves ruin cities. Anyone remember the last time we passed sweeping restrictions of freedom based on the advice of (some of the) doctors? Maybe we should outlaw French fries while we are at it, and then build a trillion dollar black market fried food business?

I remember reading somewhere that litigation outcomes are typically over discounted into stocks and it can be a great strategy to buy stocks selling down on litigation concerns. I do think there’s been a bit of an inflection point recently with larger jury verdicts, huge settlements (look at Jpm settling these tangential claims about Epstein for hundreds of millions, crazy), some plaintiff friendly rulings re: Texas two step bankruptcy. Dupont was fortunate to be the king of liability back then versus now. 100%. My personal feeling is that what used to be a winning strategy, just like spin-offs, might lose some of its appeal in a developing society where corporations get taken down by mass tort and other legal liability. Two examples of recent years are the Purdue pharma and pacific gas and electric. I think this stock probably does great, and maybe does quite poorly. Maybe the play is to buy leaps, calls and puts.

I know there are talks of technologies to literally skim them from drinking water. Nationwide. Worldwide maybe. If this was just the earplug thing I’d be loading up on margin now, but this is hard to handicap.

Hahaha

The two years we lost all our freedoms it seems. At least I have a California legal potato gun to protect my family.

Your friend sounds like a truly impressive person.

The forever chemicals are an even bigger issue. Potentially asbestos 2.0.

I know there was another thread on this, but when did the expert markets become a thing? I was buying all sorts of nanocap shitcos and weird otc securities and it was never an issue. I haven’t touched anything like this since maybe 2015 or 2016 if I had to guess, did some regulatory hurdles come up in the meantime?

Sold $150 covered calls on my GOOGL position. I picked June of next year to avoid any possibility of short term gains and so that I could get a bit higher strike price. I need to go back and check my numbers, but I think this should have paid for the options premium I paid to buy $75 GOOGL LEAPS that don't expire until Dec 25, so if these calls go against me (i.e. the stock moves over $150), I might continue to roll them over to sop up that extra time value on my leaps.

crazy. I basically ignored this whole expert market thread some months back I think because I felt like I had no reason to figure this out, and now of course I'm intrigued. I feel like using 6% margin to buy 9.65% YTM BBB paper would be a pretty solid play.

I trimmed BN to add to BX.

So could you not buy this with a bond trading desk?

Added to pm and bti.

Thanks for bringing up the DG idea, I didn't realize it had dropped off the cliff since I have never actually taken the plunge to invest in this sector. +1 to starting a DG thread.

BTI on margin in my IB account. I do have a ~35% T-bill position in another brokerage account which is largely earmarked for potential real estate deals/development, but I feel like I might as well keep the money earning 5% in T-bills rather than transfer money over. Overall I'm only running about 105% even on my IB account balance, I'm just very reluctant to use margin ordinarily.

I’m looking at some options here, consider a bear spread. Eg long the 345 pits and short the 340 puts or lower strike prices for a higher but less likely payoff. Unless we have a huge move down the bear spread should outperform.

$250k of investment income is a lot more than a $250k per year w2, especially in a high tax state. Probably the equivalent to a $400k w2 which is equivalent to what an ER doctor working a bunch of overtime would make. $50k at 0% income tax rate on qualified dividends with subsidized health insurance is equivalent to about 120k of self employment income minus taxes and insurance in Cali or probably most other states to some degree.

No doubt. I’m over 25 years out from either of these option assuming no changes in eligibility ages, so the only ways I’m going to get government insurance is via a subsidy if I decide to live on investment income or disability (so let’s hope to god that doesn’t happen).

On this point. Let’s say you own a house for cash and have a mil invested. If you don’t want to work, your income from investments should be low enough to qualify for an affordable care act subsidy so you get extremely cheap insurance as well. Not that hard to live on dividends if you’re paying 0% tax bracket, have no mortgage in a modest property tax location, get subsidized insurance, and don’t have to drive to work. This even works for high tax blue states, as long as they don’t have exorbitant property taxes. West coast states would be good examples.