Dave
Member
"It's tough to make predictions, especially about the future." Yogi Berra
Posts: 4,050
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Post by Dave on Feb 19, 2020 4:17:56 GMT -8
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Dave
Member
"It's tough to make predictions, especially about the future." Yogi Berra
Posts: 4,050
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Post by Dave on Feb 19, 2020 4:51:42 GMT -8
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Post by firestorm on Feb 19, 2020 5:19:42 GMT -8
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Dave
Member
"It's tough to make predictions, especially about the future." Yogi Berra
Posts: 4,050
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Post by Dave on Feb 19, 2020 5:30:48 GMT -8
Thanks Firestorm, I enjoyed these parts of the story.
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chinacat
Moderator
AAPL Long since 2006
Posts: 4,425
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Post by chinacat on Feb 19, 2020 5:54:53 GMT -8
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Dave
Member
"It's tough to make predictions, especially about the future." Yogi Berra
Posts: 4,050
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Post by Dave on Feb 19, 2020 7:04:34 GMT -8
Yes, you are right. Two Tuesdays in one week is a little unusual. Thanks.
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Dave
Member
"It's tough to make predictions, especially about the future." Yogi Berra
Posts: 4,050
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Post by Dave on Feb 19, 2020 7:15:52 GMT -8
Larry Tesler sounds like a very talented and interesting individual. I’ve always enjoyed reading the stories behind many of the discoveries that we take for granted today. Happy to see that Apple is moving some of its manufacturing out of China. Unfortunately, it to a virus outbreak to make it happen.
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chinacat
Moderator
AAPL Long since 2006
Posts: 4,425
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Post by chinacat on Feb 19, 2020 7:55:33 GMT -8
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chinacat
Moderator
AAPL Long since 2006
Posts: 4,425
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Post by chinacat on Feb 19, 2020 8:24:23 GMT -8
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JDSoCal
Member
Aspiring oligarch
Posts: 4,181
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Post by JDSoCal on Feb 19, 2020 8:30:13 GMT -8
I can only hope that Tim lives by the adage, never make the same mistake twice. Seems kind of hard to have 100% redundancy built into a supply chain with mile-long factories though. Looks like the market shares my opinion on this black swan virus event. No reflection the company, its customers, or the stock.
Maybe a new ATH soon.
Liking my TSLA 765-770's right now. Go cult!
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Post by duckpins on Feb 19, 2020 12:06:01 GMT -8
Only available by subscription for 100 years sign up at 50 a month?
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Post by silkstone on Feb 19, 2020 13:25:57 GMT -8
I can only hope that Tim lives by the adage, never make the same mistake twice. Seems kind of hard to have 100% redundancy built into a supply chain with mile-long factories though. Looks like the market shares my opinion on this black swan virus event. No reflection the company, its customers, or the stock.
Maybe a new ATH soon.
Liking my TSLA 765-770's right now. Go cult!
Wow JD, you might just be the next Andy Zaky, a star ⭐️ is born
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chinacat
Moderator
AAPL Long since 2006
Posts: 4,425
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Post by chinacat on Feb 19, 2020 14:28:44 GMT -8
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Post by archibaldtuttle on Feb 19, 2020 15:20:19 GMT -8
I can only hope that Tim lives by the adage, never make the same mistake twice. Seems kind of hard to have 100% redundancy built into a supply chain with mile-long factories though. Looks like the market shares my opinion on this black swan virus event. No reflection the company, its customers, or the stock.
Maybe a new ATH soon. Liking my TSLA 765-770's right now. Go cult!
Wow JD, you might just be the next Andy Zaky, a star ⭐️ is born Omg Andy Zaky. Haven’t heard that name in a while. What is he up to?
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Dave
Member
"It's tough to make predictions, especially about the future." Yogi Berra
Posts: 4,050
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Post by Dave on Feb 19, 2020 16:21:17 GMT -8
Thanks Chinacat. These are all great stories and positive moves. I’ve always imagined that Foxconn will build whatever Apple wants wherever Apple wants it. India is primed for business.
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4aapl
Moderator
Posts: 3,598
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Post by 4aapl on Feb 19, 2020 17:03:18 GMT -8
Wow JD, you might just be the next Andy Zaky, a star ⭐️ is born Omg Andy Zaky. Haven’t heard that name in a while. What is he up to? We all get a little overexcited at times, especially in the build up and top of a bubble. While I learned a lot with the 2000 peak, I still got overly excited/leveraged at times since then (EDIT: Don'cha hate it when you reread your post and you get the word completely wrong. They vs Then! It's not even a tense that gets messed up on editing a sentence. Ughhh!), including twice in 2008 (Jan and late in the year with the masses) In looking through old brokerage statements last week, burning ones I no longer needed, I came across a 85-90% loss, in 9 or 10 months. All temporary, in the longer term, but it does rock you a bit. My recollection is that I've had paper losses of 85% maybe 4 times. How many do we know of with similar rides? Zaky. GreggT. Blue Herring maybe? I'm sure there's many, and at somewhere around that level it doesn't take too much one way or the other to make you sink or swim. I'm glad to have a huge paper gain now instead. One day I hope to even take the gain and pay taxes on it.
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bud777
fire starter
Posts: 1,352
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Post by bud777 on Feb 19, 2020 17:31:56 GMT -8
Omg Andy Zaky. Haven’t heard that name in a while. What is he up to? I'm glad to have a huge paper gain now instead. One day I hope to even take the gain and pay taxes on it. Speaking of taxes, my jump off the cliff in 2013 when I mortgaged the house to buy Apple recently ended when my call options were assigned and I ended up with a million dollar capital gain.I had planned to take my gains by selling off gradually and was caught by surprise when the options handed me the entire gain at once. I just did a first cut at my taxes and it was astonishing. Well over $140K in fed taxes and over $60K in State taxes. This despite having some substantial capital loss carryovers. The most unpleasant part of it was the additional affordable care tax that kicks in over $250k income. I am not going to lie, it stings to see that money go out the door and a 200k hit to my net worth is not nothing. Still, all in all, even after taxes, I did all right, and look forward to visiting the new Bud777 wing of the IRS offices. Lesson learned: always look at tax consequences when working with options.
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4aapl
Moderator
Posts: 3,598
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Post by 4aapl on Feb 19, 2020 18:40:13 GMT -8
I'm glad to have a huge paper gain now instead. One day I hope to even take the gain and pay taxes on it. Speaking of taxes, my jump off the cliff in 2013 when I mortgaged the house to buy Apple recently ended when my call options were assigned and I ended up with a million dollar capital gain.I had planned to take my gains by selling off gradually and was caught by surprise when the options handed me the entire gain at once. I just did a first cut at my taxes and it was astonishing. Well over $140K in fed taxes and over $60K in State taxes. This despite having some substantial capital loss carryovers. The most unpleasant part of it was the additional affordable care tax that kicks in over $250k income. I am not going to lie, it stings to see that money go out the door and a 200k hit to my net worth is not nothing. Still, all in all, even after taxes, I did all right, and look forward to visiting the new Bud777 wing of the IRS offices. Lesson learned: always look at tax consequences when working with options. It's all relative. As much as it sucks to write a 6 figure check to the IRS, it only happens if you have substantial gains. The last decade or bakers dozen has varied a lot. I've had a couple years where I wrote big checks. I had a couple where I got back an amazing amount, including a year where I got back more than I paid in, while working 2/3 of the year as an engineer. And then there were a couple or more years where I took a big loss that got carried forward. All in all (we just watched Cars 2), it has varied a lot. While I have to admit that most people wouldn't have the variety of tax situations that I/we have had over the past 20 year, nor expect to have over the coming decade, I will admit that our experiences and expectations would point to having a different tax structure, and more and more I like the idea of a mostly flat tax rate, without most or any deductions. But really, how does that relate to Apple or AAPL? One could make the case, mainly due to oversized gains (and losses, at times). But truthfully, this should be elsewhere. Still, ideally I will spread out my AAPL gains over a long period of time. At the same time, in retrospect I would take large gains at the top anytime. And in looking at AAPL's path over the decades, it wouldn't be outlandish to expect that the current price range is more towards the top than the bottom. If you have to take gains, and pay taxes, now isn't a terrible time to do so. While planning to take some, by formerly writing some covered calls at a 330 strike, I also plan on stashing some in a donor advised fund. While I might be no where near Bezo's $10B number, I wouldn't mind funding something of interest, especially if I manage a 2 for 1 type deal by offering to double a donation period. Thanks AAPL! And thanks, to everyone here that helps contribute!
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JDSoCal
Member
Aspiring oligarch
Posts: 4,181
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Post by JDSoCal on Feb 20, 2020 7:43:58 GMT -8
While I admit to some schadenfreude when it comes to AAPL shorts, I'm not going to dance on the graves of longs. These days, I shoot for singles, not home runs. < 0.5% of my net worth maximum on any given options trade. So yeah, wish I added a zero or two to that SPCE trade, but should their next launch be into terra firma, I'm not KIA. Only trading in my Roth these days. No theft for you, feds or state!
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mark
fire starter
Posts: 1,544
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Post by mark on Feb 23, 2020 18:20:39 GMT -8
I'm glad to have a huge paper gain now instead. One day I hope to even take the gain and pay taxes on it. Speaking of taxes, my jump off the cliff in 2013 when I mortgaged the house to buy Apple recently ended when my call options were assigned and I ended up with a million dollar capital gain.I had planned to take my gains by selling off gradually and was caught by surprise when the options handed me the entire gain at once. I just did a first cut at my taxes and it was astonishing. Well over $140K in fed taxes and over $60K in State taxes. This despite having some substantial capital loss carryovers. The most unpleasant part of it was the additional affordable care tax that kicks in over $250k income. I am not going to lie, it stings to see that money go out the door and a 200k hit to my net worth is not nothing. Still, all in all, even after taxes, I did all right, and look forward to visiting the new Bud777 wing of the IRS offices. Lesson learned: always look at tax consequences when working with options. You didn't have to deliver THOSE shares! You could have simply purchased other ones and delivered them instead (with minimal immediate tax consequences). That's exactly what I did a few years ago when I was assigned.
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4aapl
Moderator
Posts: 3,598
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Post by 4aapl on Feb 23, 2020 22:05:38 GMT -8
Speaking of taxes, my jump off the cliff in 2013 when I mortgaged the house to buy Apple recently ended when my call options were assigned and I ended up with a million dollar capital gain.I had planned to take my gains by selling off gradually and was caught by surprise when the options handed me the entire gain at once. I just did a first cut at my taxes and it was astonishing. Well over $140K in fed taxes and over $60K in State taxes. This despite having some substantial capital loss carryovers. The most unpleasant part of it was the additional affordable care tax that kicks in over $250k income. I am not going to lie, it stings to see that money go out the door and a 200k hit to my net worth is not nothing. Still, all in all, even after taxes, I did all right, and look forward to visiting the new Bud777 wing of the IRS offices. Lesson learned: always look at tax consequences when working with options. You didn't have to deliver THOSE shares! You could have simply purchased other ones and delivered them instead (with minimal immediate tax consequences). That's exactly what I did a few years ago when I was assigned. Nice! As long as you're on the ball and do it the same day. I think I didn't notice my sale until the next day. But, it's not bad to pay some taxes, on at least part of your shares. While I may hold some shares forever, and thus get the nice stepped up basis for my heirs, I hopefully still have quite a few decades until that time. A lot can change in that timeframe, including tax rates and end-of-life rules, in addition to the viability of AAPL. Paying some taxes now gives a stepped up basis, thus making it a little easier to sell off shares if that is the right thing to do. But that's a whole different kettle, including not to let taxes wag the dog. Good luck out there.
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