[Coronita]

[quote=spdrun](1) Are lottery winnings subject to the lifetime gift tax exclusion (several million $), or are they taxed as straight income?
(2) If you’re dealing with hard-money lenders and are willing to pay 10+% p/a, why not? Assuming a clear exit strategy of selling the home, the loan would be worth the risk to some. QM loan obviously won’t happen, but there are other means of borrowing with less pleasant terms.[/quote]

I’ll let you know when I win 🙂

[Coronita]

[quote=spdrun]

The actual winner has a choice between getting that home (which most likely they won’t take it because they wouldn’t be able to afford the income taxes on the home + property tax + other costs of upkeeping the home)

Arrange a loan at 50% LTV (easy enough to do, regardless of income) to cover taxes and other expenses till the home is sold.[/quote]

The problem is I believe the income taxes are due upfront…Just like any other type of raffle (like the Price is Right)..

Also there is a huge difference between what the actual home is sold and what the owner listed the home in the MLS…. That $4million+ home that MCD quoted is basically the asking price of what the seller wants, not necessarily what the home will actually get….

Also, you aren’t going to get a 50% LTV on a $3-4million home when you don’t have anywhere near the income to back it up when you apply for the loan…

For almost everyone, the lump sum payment makes greater sense.

[Coronita]

Lol.. You can always take the cash prize…..

You do realize how this raffle works, don’t you?

Basically this charity selects a homeowner that has his multi-million home on the MLS.. They agree to take their home off of the MLS during the raffle dates, in return for marketing/PR from the charity and the possibility that the raffle “winner” will want the house (doubt it)…

The actual winner has a choice between getting that home (which most likely they won’t take it because they wouldn’t be able to afford the income taxes on the home + property tax + other costs of upkeeping the home) OR they choose the cash prize, which is considerably less (around $1million)..

The “owner” of the dream home basically gets a free advertisement of his/her estate that is up for sale and the possibility that some raffle winner will want the home, upon which the charity buys the home at the listed price.

Don’t think of it as a raffle ticket…..Think of it as a high yield junk bond 🙂

[Coronita]

This really isn’t any different than people who win all those big prizes on the Price is Right… They lady who recently won then Audi R8 convertible is most likely going to take the cash prize instead of the actual car… I seriously doubt she has the finances to pay for the income taxes, registration,etc for a $150k+ new car…

http://www.autoblog.com/2013/12/30/woman-wins-audi-r8-price-is-right-biggest-prize-ever/

[Coronita]

[quote=livinincali][quote=livinincali] Of course tomorrow you might be up 20% or down 20%.[/quote]

Looks like 20% movement for today was right. Unfortunately is was down another 20% to .19/sh[/quote]

Meh it’s like 3000 shares. I think I can afford it if it goes to $0….

[Coronita]

[quote=flu][quote=doofrat]I’ve got an open order to sell VLO at $49 so one of us is wrong 🙂

BTW, an MLP means you get a Schedule K-1 (probably won’t get it until April if you get one at all for this year).

Depending on how much you bought, you might not want to deal with the K-1 headache each year if you only bought a small amount. It’s a really confusing form in my opinion.

Also, my VLO sale is just trying to limit my Oil stock exposure on this upswing.[/quote]

Your order should have executed today 🙂

$50/share today.

[/quote]

I win 🙂

[Coronita]

Cool maybe I can get my prescriptions filled at the vet…..

[Coronita]

[quote=spdrun]

They left an old newspaper out with a note that said “don’t steal our newspaper. We know who you are. If you do again, we’re calling the police!”

If they did actually call the police, would the dispatcher laugh or call an ambulance to take them to the loony bin?[/quote]

Well, we are talking SDPD in Carmel Valley…I’m sure between that, and writing people tickets, or looking into petty theft, it’s as busy as things get…

You know 1%er community type problems 🙂

And besides, it’s San Diego. The police are actually pretty decent.. Not like they are useless, like places like NYC…..

[Coronita]

How about car seats for dogs?

[Coronita]

I think I had a cool teacher once in 11th grade… He married one my classmate 2-3 years later after I graduated 🙁 …

[Coronita]

I’m sure there’s not an app for it (yet)…

[Coronita]

…Bump….

So the WSJ newspaper bandit strikes again before I had time to decide what to do…

Unfortunately, my relatives who are with me currently got fed up with it, and took matters to their own hands…

They left an old newspaper out with a note that said “don’t steal our newspaper. We know who you are. If you do again, we’re calling the police!”

Now some grumpy old person gets the note, and will be ticked…Great 🙁 …….

Kinda like a seinfield episode.

Welcome to my life.

I know, I know….Carmel Valley problems, lol….

[Coronita]

….How are people that live decently well(er) off neighborhood so damn cheap as to not buy a freaking newspaper….

I mean, I’m all for asset hording…. But this is sort of ridiculous…..

[Coronita]

[quote=5yearwaiter][quote=flu]So I sort of bought this stock accidentally. Back in mid-december, instead of entering VLO I fat-fingered and entered VLP and the order executed before I had a chance to cancel it… Oops…

Purchase price was around $29.50. Have no fricking clue about it, and am deciding whether to keep it or leave it. Volume is ridiculously low (maybe since the holidays + IPO)….

Thoughts?

Keep or dump?

What the heck are MLP’s?[/quote]

Flu how did you get this kind of pic exactly few weeks back and what that wiz mind back on this selections? or any links where we can gain some knowledge on this kind of spot gains?[/quote]

Sure….I woke up one day in mid december and got out my wall street journal (the one someone that someone on my street didn’t steal), put it on my dartboard, and threw a dart at the stock quotes section…. It landed at VLO….I was in a hurry to go to work, and wasn’t paying attention so I entered VLP instead of VLO and hit, “buy”…Since I disabled order confirmation, it executed without asking me “are you sure?”…..Went to work and got an email confirmation that I bought VLP instead of VLO and started crapping in my pants…Didn’t do much since it wasn’t moving and I didn’t want additional tax consequences from selling something this year….So I held on, not knowing what the heck it is..

You can try the same strategy, because I found out for me, it’s a lot more effective than if I actually try to rationalize what is a good buy and what isn’t….Ok, maybe not *that* random….. But if you think this had anything to do with my stock picking skills, you can rest assure that 100% it is not….
If you don’t believe me, just ask AN, because hecan tell you everytime I am off…Way off….Because he usually gets to hear every foul thing out of my mouth when I am….

Strategy #2 that works is (1) find out what I’m selling… (2) Buy whatever I sell immediately right after I sell… And if you hear me short sell anything, immediately dump your life savings into a long position…Example, see, if I was smart, back in the beginning of the year, I would have kept VLO when it was in the mid-20ies…Just like another gentleman that use to post here with the handle desmond…I think I bought and sold bought and sold a few times trying to grab a few bucks of gain each time…Then things kept going up and up…First it was the thirties, then the thirty fives…Then the forties….

Then there was the posts I made about what a joke FB was at $18/share….Thankfully my dad didn’t listen to me. He went ahead and bought it anyway… Things got really “interesting” when I opened a tiny short position in the 40ies…. You know what, never mind… Don’t go there…

You get my point? Take a contrarian position to what I do. And you will do fine…….I don’t mind turning everyone else around me into great stock pickers with my contrarian indicators based on my own (lack of abilities)….You are welcome.

Happy New Year. And may you have a prosperous 2014 by doing exactly the opposite of what I do… 🙂

[Coronita]

[quote=enron_by_the_sea][quote=flu][quote=SK in CV][quote=flu][quote=The-Shoveler]Maybe its just a coincidence but I noticed the SD home price and qcom stock chart look similar LOL.[/quote]

I think Marvel (MRVL) is a better buy frankly at these prices. Well it was, at least right after those patent lawsuits from CMU when it was around $11/share…

Looks like KKR looking to take a 5% stake in the company recently.

They also crushed Q4 earnings estimates yesterday..

But what do I know…[/quote]

Funny you mention that. I looked long and hard at earnings play on MRVL. Just couldn’t find any juice in it, to either side. Surprisingly low vol. Even with the big beat, didn’t crash through a single standard deviation.[/quote]

Bump… It’s up…. Not a lot.. But close to 52 week high :)[/quote]

yeah!

Begin bragging
{
I bought mine at 7.85
}
End bragging[/quote]

I hate you…. But congrats….

[Author]

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