Search found 147 matches

by pmward
Thu Apr 25, 2019 9:53 am
Forum: Gold
Topic: The GOLD scream room
Replies: 2395
Views: 383476

Re: The GOLD scream room

We are twins separated at birth. I had the same philosophy when I was hyper-accumulating (TRIPLE TWINS). I think MMM and Jacob Lund Fisker both wrote about how having a high savings rate is much more important than investment returns. the best is do both... a high savings rate is you working for yo...
by pmward
Thu Apr 25, 2019 8:39 am
Forum: Gold
Topic: The GOLD scream room
Replies: 2395
Views: 383476

Re: The GOLD scream room

when you take typical accumulation periods which span decades you would be betting against that house that the winner won't be equities so a long term investor who is mitigating temporary dips would likely have no financial logic to it .. typical periods run 25-40 years ... so mentally , sure it ma...
by pmward
Thu Apr 25, 2019 8:19 am
Forum: Other Discussions
Topic: Permanently low interest rates
Replies: 46
Views: 762

Re: Permanently low interest rates

It seems like stock buybacks should be allowed as long as they’re done with excess capital, i.e., not with borrowed funds. In a sense, stock buybacks are the opposite of issuing new stock. Companies issue new stock to raise capital, so the opposite activity (buying back shares) should be done to dr...
by pmward
Wed Apr 24, 2019 9:40 pm
Forum: Other Discussions
Topic: Permanently low interest rates
Replies: 46
Views: 762

Re: Permanently low interest rates

It's also worth noting that stock buybacks were illegal prior to 1982. Yeah, I actually just learned that a few weeks ago. I wasn't aware it was ever banned. But yeah, some politicians are moving to ban it again because they think it's unethical to allow executives to raid their companies balance s...
by pmward
Wed Apr 24, 2019 9:21 pm
Forum: Other Discussions
Topic: Permanently low interest rates
Replies: 46
Views: 762

Re: Permanently low interest rates

In other words, my assumption that companies only do share buybacks when they have surplus capital was apparently incorrect. Interesting. Follow-up question: What is the likely thought process of a corporate executive who borrows money to buy back shares? Is the idea that unless the shareholders se...
by pmward
Wed Apr 24, 2019 3:36 pm
Forum: Other Discussions
Topic: Permanently low interest rates
Replies: 46
Views: 762

Re: Permanently low interest rates

Jesse Felder released a blog post today that in a lot of ways touches on some of the things we've been discussing here: https://thefelderreport.com/2019/04/24/the-perils-of-pursuing-monetary-policy-that-explicitly-makes-the-economy-reliant-on-bubbles/?utm_source=Subscribers&utm_campaign=b6f49e7949-E...
by pmward
Wed Apr 24, 2019 3:26 pm
Forum: Gold
Topic: Tax accounting for physical metals
Replies: 19
Views: 247

Re: Tax accounting for physical metals

Try Google sheets. I was a C++ programmer too and always thought spreadsheets were complicated, especially one written by a company like Microsoft who "excels" at complicating things. Google sheets is a lot simpler IMHO. Microsoft has gotten a lot better in the last few years. My most proficient ba...
by pmward
Wed Apr 24, 2019 9:08 am
Forum: Gold
Topic: The GOLD scream room
Replies: 2395
Views: 383476

Re: The GOLD scream room

realistically for a long term investor , mitigating temporary short term dips with assets that will permanently lower long term returns has little financial logic to it ...but if it keeps them from bad investor behavior then great . all these other assets are what we use when we have time constrain...
by pmward
Wed Apr 24, 2019 8:47 am
Forum: Other Discussions
Topic: Permanently low interest rates
Replies: 46
Views: 762

Re: Permanently low interest rates

https://seekingalpha.com/article/4250756-buybacks-making-market-look-cheaper ^ wrong? If the only metric someone looks at is P/E, then yes it does make the market look cheaper than it is. I think an argument could be made that over the last 10 years buybacks alone are the main reason for the U.S. o...
by pmward
Tue Apr 23, 2019 9:13 am
Forum: Stocks
Topic: Tax Loss Harvesting Support Group
Replies: 33
Views: 2265

Re: Tax Loss Harvesting Support Group

It's easy to decide to take capital gains when you get to do it at the 0% rate, but things get trickier if you're subject to the 15% rate. What if in future you expect to have a window where you can take the gains at a 0% rate? You'd be missing out on that not to mention the power of tax deferral. ...
by pmward
Tue Apr 23, 2019 9:01 am
Forum: Other Discussions
Topic: Permanently low interest rates
Replies: 46
Views: 762

Re: Permanently low interest rates

Hint #2: Gross vs. net corporate debt. Credit card analogy #2: My credit card debt is up 10 fold again, darn it! Going from $100 to 1000 and I have 100K in STTs. Do I have a debt problem? Have you examined a chart of corporate profits to GDP? Surprise...also at historical highs. Look away folks, no...
by pmward
Tue Apr 23, 2019 8:46 am
Forum: Other Discussions
Topic: Permanently low interest rates
Replies: 46
Views: 762

Re: Permanently low interest rates

Everyone loves Dalio's video but im not sure yet. How does he come up with "typically 50 years" for a long term cycle. The world changes a lot over 50 year spans. We had a soft landing after the tech bubble. If it was even a "bubble", we didnt know how tech would pan out. Predicting the future is h...