Jump to content

Prince Alwaleed and the fight with Forbes richest people data


CONeal

Recommended Posts

What happens is that when you start to get into those amounts, usually people create corporations, trusts, etc that hold the assets, and then they do have to file a 13-F as an institution. 

 

I already have more than 50% of it in a RothIRA -- for the next 20 years it can't be moved anywhere without getting hit with tax.  After that, I'm not sure why I'd move it anyway (unless tax laws change).  I can set up trusts as beneficiaries of the RothIRA, but as long as they don't yet have the assets there would be no need to file with the SEC.

 

It would be epic to get into those kinds of numbers in a RothIRA.  No drag from taxation and completely under the radar (Forbes won't find out).

 

Link to comment
Share on other sites

  • Replies 127
  • Created
  • Last Reply

Top Posters In This Topic

Thanks for the clarification Sanjeev. So a personal holding corporation or a trust would be required to file a 13F if it reached a total U.S. holdings limit ($100 million?). That explains why have seen some "individuals" filing these things even if they were not holding 5% of any one company or being fund managers.

 

Now regarding trusts, a RRSP in Canada is considered a trust, so does it have to file a 13F in the U.S. if one holds the limit of U.S. stocks within? I don't know about Roth IRA Ericopoly, but if they are considered trusts then you may still need to file if this applies.

 

I find amazing that we are starting to talk about this kind of stuff on the board! The life of the board is relatively short while some have accumulated truly nice sums over this short time span and now have all the tools to continue compounding for a very long time and build a fortune. Hopefully, this will be used in part to build a better world instead of just lavish consumption.

 

Cardboard

Link to comment
Share on other sites

its amazing we are talking about these numbers and this issue

 

lets not stop until more members of this board can start contemplating these numbers ... that includes me :)

 

hy

 

 

It is only possible because of this board, but anyways here's what Fidelity is telling me for the RothIRA -- they have, as of the end of January, been tracking my performance for exactly 10 years:

 

ROTHPERF.tiff

Link to comment
Share on other sites

its amazing we are talking about these numbers and this issue

 

lets not stop until more members of this board can start contemplating these numbers ... that includes me :)

 

hy

 

 

It is only possible because of this board, but anyways here's what Fidelity is telling me for the RothIRA -- they have, as of the end of January, been tracking my performance for exactly 10 years:

Whoa.

Link to comment
Share on other sites

Eric, what were you doing in between FFH and BAC?

 

2007 -- FFH gains

2008 -- FFH gains  (a lot of them because I was levered in the calls the day of the short selling ban)

2009 -- FFH gains, WFC gains (some), and ORH gains (account went up 50% the day of the buyout offer -- thanks to Cardboard)

2010 -- FUR gains, C gains, not sure I remember what else

2011 -- lost 35% in RothIRA

2012 -- Up 300% from BAC (it doesn't show in the numbers given because it excludes January 2012 which was epic month)

 

Link to comment
Share on other sites

Eric, what were you doing in between FFH and BAC?

 

2007 -- FFH gains

2008 -- FFH gains  (a lot of them because I was levered in the calls the day of the short selling ban)

2009 -- FFH gains, WFC gains (some), and ORH gains (account went up 50% the day of the buyout offer -- thanks to Cardboard)

2010 -- FUR gains, C gains, not sure I remember what else

2011 -- lost 35% in RothIRA

2012 -- Up 300% from BAC (it doesn't show in the numbers given because it excludes January 2012 which was epic month)

 

ah, of course just holding FFH would net you a lot then.  Are you really going to be out of investing and go into buy and hold after BAC?  Or perhaps you will set aside a new portion to keep going with?

Link to comment
Share on other sites

Eric, what were you doing in between FFH and BAC?

 

2007 -- FFH gains

2008 -- FFH gains  (a lot of them because I was levered in the calls the day of the short selling ban)

2009 -- FFH gains, WFC gains (some), and ORH gains (account went up 50% the day of the buyout offer -- thanks to Cardboard)

2010 -- FUR gains, C gains, not sure I remember what else

2011 -- lost 35% in RothIRA

2012 -- Up 300% from BAC (it doesn't show in the numbers given because it excludes January 2012 which was epic month)

 

 

Probably this is what Buffet and Munger mean to be very patient and swing hard at ideas with high conviction. I doubt if they would have done this concentrated and this levered but who cares,Some times luck favours the brave! Thess are unbelivable results!

Link to comment
Share on other sites

Eric, what were you doing in between FFH and BAC?

 

2007 -- FFH gains

2008 -- FFH gains  (a lot of them because I was levered in the calls the day of the short selling ban)

2009 -- FFH gains, WFC gains (some), and ORH gains (account went up 50% the day of the buyout offer -- thanks to Cardboard)

2010 -- FUR gains, C gains, not sure I remember what else

2011 -- lost 35% in RothIRA

2012 -- Up 300% from BAC (it doesn't show in the numbers given because it excludes January 2012 which was epic month)

 

 

Probably this is what Buffet and Munger mean to be very patient and swing hard at ideas with high conviction. I doubt if they would have done this concentrated and this levered but who cares,Some times luck favours the brave! Thess are unbelivable results!

 

that's amazing. congrats.

Link to comment
Share on other sites

Liberty did you actually know that or run the pic through google's image search?  ;)

 

I used Google's Image Search, of course (I did it a few days ago because I was curious). Who just randomly happens to know what the real Arnold Rothstein looks like :)

 

But I expect that this is based on someone (can't remember whom) calling him Eric Rothstein a few months back when he was saying that he's going all in on BAC, and then linking that great Boardwalk Empire speech by the fictional AR.

Link to comment
Share on other sites

So no worries Eric.  Your secret will be safe with us, as you fly around on your Marquis Jet Card, surfing the internet at 20,000 feet.

 

And, posting on cornerofberkshireandfairfax...

 

 

I kinda like that thought

 

What I'd like to see is Eric become a centimillionare over the next few years, and have him continue to post on here.  Then every time someone like Harry Long comes on here and tells us how we are anchored to our old ideas, all we have to do is show a picture of Eric sitting in his Netjets plane!  ;D  Cheers!

Link to comment
Share on other sites

its Arnold Rothstein, i happen to know because of boardwalk empire, while watching the show i would search for the various characters to see how they are in real life.

 

arnold was a famous gambler and good one at that

Link to comment
Share on other sites

its amazing we are talking about these numbers and this issue

 

lets not stop until more members of this board can start contemplating these numbers ... that includes me :)

 

hy

 

 

It is only possible because of this board, but anyways here's what Fidelity is telling me for the RothIRA -- they have, as of the end of January, been tracking my performance for exactly 10 years:

 

Eric, you've only achieved 73% cumulative over ten years?  You'll never be a centamilliionaire!  ;D  Cheers!

Link to comment
Share on other sites

I just saw the cumulative. oh man. that is crazy. eric, you should never stop investing. you really could be worth a billionaire once day, especially since you're only 40 or so (but I'm sure you already knew that!) :P

Link to comment
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now



×
×
  • Create New...