Dow Down 666 Points




“By my calculations, one percent of Americans, who control 90 percent of the wealth in this country, would be affected by my plan. The other 99 percent of the people would get deep reductions in their federal income taxes.”
No, that’s not Bernie Sanders. That’s Donald Trump describing the tax plan he proposed in 1999, a plan targeted specifically at raising huge amounts of money from rich people and promoted in language that Occupy Wall Street would have loved.
Trump proposed hitting anyone worth $10 million or more with a one-time 14.25 percent tax on their assets, saying it would raise $5.7 trillion dollars and wipe out the national debt. According to Trump, his own bill would have come to more than $700 million dollars (pegging his net worth at just under $5 billion), but he said he was happy to fork over the cash. “Some will say that my plan is unfair to the extremely wealthy,” he wrote his 2000 book, The America We Deserve. “I say it is only reasonable to shift the burden to those most able to pay…I believe we have an obligation to pay. Taxes represent the cost of freedom and its defense. It is a small price.”




We need to track Uber drivers’ stock tips and short them.


I’ve got a life dude! Trying to spend time with my kids… and doing my taxes…and laundry.


It’s not impossible that Dow/S&P might try to retest the lows again.


Please don’t jinx. Up up and away!!! Dead cat growing a pair of wings flying high and shoot to the sky!!! :rofl:


Bought XOM
Near lows good inflation fighter


Near lows ==> Excellent ! I may grab some , but reviewing it


Um… why go with that when there are so many hot tech stocks to chase… don’t worry it’s not 2000 all over again… :rofl:


IMO, Tech stocks are very expensive, higher P/E, lower ROI. Fundamentals are very important.

elt1 is very systematic, thinking stocks like Real estate, looking at fundamentals. He got BP which is 6% dividend cash flow, now XOM with 4% cash flow. This cash flow is just like Cap rate.

The key take, in stocks, is catch at low and hold forever. They provide nice cash flow while our initial purchase price has better margin of safety.

He is trying to gram XOM as if getting a home in 2008-2011 timeframe.

Now, XOM, BP and CVX are attractive as they fell 15% from current peak !


Should I call you two historians? Living in the past? Ain’t everyone talking about self-driving EVs that don’t use petrol?

Own exactly 100 shares of CVX @$99, used to own 200 shares.


@elt1 has so much real estate where he had bought low and holding forever providing incredible cash flow. He does not need that in stocks!!! He needs a high flying moonshot that will take him to the moon!!! Oops @elt1 I don’t mean you should buy those altcoins… :rofl:


EVs (Commute cars) will be changing the world in 10 years, no doubt, but that is not an end to Petrol or gas. We have Trucks, Airplanes, Ships and Trains …so many major transport carriers.

It may take another 20 or 25 years (if possible) change them to EV.


Demand for petrol should be declining as more transportation vehicles change to EVs. So oil stocks are in a secular decline. Definitely not buy n hold oil stocks. But short-term, no idea… did you see some short-term bullish factors for oil stocks?


True, he may want diversification, and that is perfectly better.

Sorry to differ here. That is mostly your idea (He does not need that in stocks) as you do not want to even look at IRA (sorry to grab you again). Or you are too big to look at IRA as very small fish !

USA is business economy. IMO, For diversification (and to be in touch with economy, esp in USA), stock portfolio is important.

For one example, my kid has earned four year college internship and one year earning, but his Roth IRA has almost 60k at low 20s. I filed individual tax filing for him only to make sure Roth is growing tax free for his life. Next 40 years, power of compounding brings this to a Million Dollar easily ! People has got Millions in IRA (retirement account).

Even big companies, like AAPL, FB and GOOGL save Billions in taxes using various avenues.


IMO, you are right, demand will gradually reduce. Companies need to transform or reduce expenses to make the profitability.

This is the risk, I agree.

Did you see some short-term bullish factors for oil stocks? ==> No, I do not see short term spike or bullish factors as of now. Need to review further.


Don’t believe the hype. Over the last decade oil demand has increased by 1.1M barrels per DAY. Consumption keeps growing.


Everyone’s situation is different. I am indeed too big to look at IRA. By the time my IRA account reaches a million my non-IRA accounts will have reached something like 50 million maybe. There’s too little money in my IRA to make a difference. And you can only put a miniscule 15k or so a year into it.

I have other ways to save on taxes but IRA is not going to be one of them.

Also, diversification is important. That’s why @elt1 should go for moonshots. His portfolio is too conservative.


You can potentially put more than 100k a year into your own IRA. But you are not interested. :wink: