I just cashed out my stocks at 11,400 that I bought when the market dropped to 10,400! Wahooooa! Made about $15,000 so after tax that's a cool $7000 for a week of investing!

Thanks Republicans and Tea Party! A round at happy hour on me!

Who is richer: he who has the most or he who needs the least?

Sounds like a trip to the nearest whorehouse is in order!

BlueHorse Shoe Wrote:
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> I just cashed out my stocks at 11,400 that I
> bought when the market dropped to 10,400!
> Wahooooa! Made about $15,000 so after tax that's
> a cool $7000 for a week of investing!
>
> Thanks Republicans and Tea Party! A round at
> happy hour on me!

So how much money did you move out of the market?

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http://bible.cc/1_corinthians/13-11.htm

X*(11'400-10'400)=15'000
X*1'000 = 15'500
X = 150'000

I'd advise getting that chunk of change into gold and stored overseas. They already took $8K, they don't need to get to the rest, either through inflation or taxation.

What the heck was I thinking...hold on:

X * 11'400/10'400 = x + 15'000
X * (11'400/10'400 - 1) = 15'000
x = 156'000

There we go

... Wrote:
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> X*(11'400-10'400)=15'000
> X*1'000 = 15'500
> X = 150'000
>
You were good until the last step. In this scenario you are defining X as 'shares of Dow' bought, not actual dollars, so X = 15.

Meaning he spent 10,400*15 = $156,000 to start, and cashed out with 11,400*15 = $171,000, which is what your second post confirms.

BlueHorse Shoe Wrote:
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> I just cashed out my stocks at 11,400 that I
> bought when the market dropped to 10,400!
> Wahooooa! Made about $15,000 so after tax that's
> a cool $7000 for a week of investing!
>
> Thanks Republicans and Tea Party! A round at
> happy hour on me!

You are now officially an evil rich person full of corporate greed and probably have access to a corporate jet as well. I would say more but I have to get back to building sand castles on Marthas Vineyard for two weeks.

Barry O

Your leader Wrote:

> You are now officially an evil rich person full of
> corporate greed and probably have access to a
> corporate jet as well. I would say more but I have
> to get back to building sand castles on Marthas
> Vineyard for two weeks.
>
> Barry O

Or, more likely, a 20-something smart ass who's full of shit and barely has enough money to buy another cappuccino.

$15k before tax, while ok for a week's worth of trading, is hardly a fortune. Come back and brag after you've had gains over a sustained period of time and a portfolio in excess of $5m. Then I will be impressed.

Grow some balls and do that on margin.

Hank Moody Wrote:
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> Grow some balls and do that on margin.


I sincerely doubt Mr. Blue Shoe knows what that means.



Edited 1 time(s). Last edit at 08/18/2011 09:52AM by jbalo.

... Wrote:
-------------------------------------------------------
> X*(11'400-10'400)=15'000
> X*1'000 = 15'500
> X = 150'000
>
> I'd advise getting that chunk of change into gold
> and stored overseas. They already took $8K, they
> don't need to get to the rest, either through
> inflation or taxation.


I knew what it was. I wanted to see if HE did.

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http://bible.cc/1_corinthians/13-11.htm

oracle Wrote:
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>
> Or, more likely, a 20-something smart ass who's
> full of shit and barely has enough money to buy
> another cappuccino.


Given that he thinks the capital gains tax rate is over 50%, I would tend to agree.

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http://bible.cc/1_corinthians/13-11.htm

WashingTone-Locian Wrote:
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> oracle Wrote:
> --------------------------------------------------
> -----
>
> >
> > Or, more likely, a 20-something smart ass who's
> > full of shit and barely has enough money to buy
> > another cappuccino.
>
>
> Given that he thinks the capital gains tax rate is
> over 50%, I would tend to agree.

He said after taxes (not further described), and also said this concerned a buy he made during this summer, so cap gains rate of 15% would not apply. He would be taxed at income. I don't know how he gets to over 50% tax rate though.