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beigledog, personally I think the best negotiation tactic is to make an offer, skip the letter (although it is nicely written). As a seller I would take it as a sign of weakness on your part and would stand my ground firmer because of it. Never show the seller that you really want something. You also are insulting them by telling them how much work is needed and the state of the appliances. Gee, you guys lived in a house with some real crap, but now we want to replace all that and have you pay for it!
Submit the offer, show them that you have the money and are prepared for a fast close. And if they don't bite, wait them out. As Lentinman will prove to you, the inventory will be growing and many more houses will show up. It is your first buy, be patient, don't make the mistake of being overeager.
Yes the trade seems to have gone, but the marketmaker who was on the offer is not doing so anymore. Very strange, just part of the intricate tangled web they are weaving.
http://otcbb.com/asp/Info_Center.asp still shows here in time and sales.
fingers crossed at this point!
Painful to watch, however somebody just unloaded 200,000 shares @ $.55 .. Obviously someone bought them!
Brinker: "In our view, the stock market is attractive for purchase on any weakness that may occur in the vicinity of the S&P 500 Index 1250 level or lower."
He seems to be correct, once again!
hweb: JMIH: "Don't know what more you could want from a .20 stock"
For it to be a $.50 cent stock!
beigledog: Quality of life valuation. Offer what you are comfortable with paying. Over the long run, a few thousand will not make or break you. The joy of spending your every waking moment fixing stuff and being at Home Depot will outweigh any price difference you pay. When your wife starts buying you tools for your birthday you will be in homeowner heaven.
LOL
Good news for a change!
17 beers a day keep prostate cancer away
For many men, a finding by Oregon researchers sounds too good to be true: An ingredient in beer seems to help prevent prostate cancer, at least in lab experiments.
http://www.msnbc.msn.com/id/13289882/from/ET/
OT: Market Prognostications: For all you youngsters on board who may not know of George Carlin, check this out as he was as accurate as all who know where the market is going.
ROTFLMAO = http://video.google.com/videoplay?docid=-29377871516995321&q=george+carlin
http://www.audiosparx.com/sa/play/port_lofi.cfm?sound_iid=37141
re: Market Blow-off: Just as a point of information, the NYSE circuit breaker is currently set at 1100 down points on the DJIA or about 10% drop. It halts the market anywhere from 1 hour to Zero depending on time of day. Comforting isn't it!
I won't even mention the 2,250 or 3,350 halt times.
"This is getting out of hand and the government has done nothing to stop it. "
The government has no ability to protect the US borders or spend our tax dollars within a budget, keeping us from huge deficits. And you want them to protect you from evil Californians who are buying up some property. That is not the governments job. It is a self correcting process. If it is as you say, then eventually these evil Californian investors will get hurt with 100% financed investment properties or the mortgage holders will be bagged.
btw - not every Californian has made millions on property. LOL
bbotc: OT: Schwab money funds have been sweep for as long as I can remember back to the mid 80's. They recently changed the default option to sweep to Schwab Bank. If you have a small account then you might be stuck with it. If you keep a lot of cash and stock then you should inquire about switching to the money market sweep option. If you have at least $25K in a non retirement account then you should use Schwab Value advantage funds as they pay over 4.64% at the moment. You just have to trade the funds out to cover your trades. I leave the larger amounts in the Value Advantage (SWVXX is the symbol) fund and let the small dollars sweep to the regular money market.
Actually Vanguard rules for high yield, but the commission structure is not made for the VM traders!!! I have complained to them in the past and they will most likely come around some year! LOL
bbotcs: Schwab money funds pay slightly less than Fidelity. 1.5% ?? where did that come from. My non sweep Schawb Money Fund pays 4.64%, I have to manually buy & sell. The sweep fund is about 4.48% at the moment.
Cramer: OT: He has been on the radio for awhile. http://realmoney.cbsradio.com/
I never watch or listen... because he is a jerk, wealthy but a jerk. If Spitzer ever becomes President of the US of A, look for Cramer to be Secretary of the Treasury! LOL
We agree "although I still believe one is worse than the other", the republicans! LOL
Just fooling with you. They are equally bad and will spend our cash as fast as they can.
We don't have much to argue about on this subject. However if they eliminate the estate tax, they will just replace it with something less fair to the average citizen and in the long run it will cost YOU more and the Gates family less.
death tax 2011... Only the uneducated who don't use a proper estate planner would be paying taxes on that estate of $2 million. Various planning techniques and trusts, with the marital transfer, generation skipping trusts etc, would make that a non event. I still agree with you on not having the tax, it just furthers my point that taxes are arbitrarily applied to those who don't know how to stay out of harms way.
OTC: We agree, the government wastes a lot of money. Check out the following link http://www.ntu.org/main/page.php?PageID=19 to see the historical tax rates. Right now taxes are not that high. You will note how much taxes people paid during and after WWII. 91% top tax rates on the rich. We as a country have not currently been asked to sacrifice in the form of taxes for the current IRAQ debacle. The sacrifice will come later after GWB is gone and the next administration is forced to raise taxes to pay for the damn thing. Then you will really be moaning.
Bottom line for me on taxes is: It is way too complex a system that favors the wealthy and well educated citizen. There is no reason that you should need to hire an accountant or attorney to deal with any tax issues. Taking the exact same income event and apply to Joe Taxpayer who does his own taxes and Lord Smart Taxpayer who has a CPA & Tax attorney, then Joe will get screwed every time. I have a business and accounting background so if a tax situation comes up I can deal with it, research it or know whom to call to get an answer. Most people don't and it is crazy. If the masses were smarter they would be revolting, they would be voting libertarian and electing people who would be letting them spend the money they earn for the most part. They would not be invading foreign countries without a damn good reason.
What I don't understand about you and many other people is the passionate dislike of the Estate tax. Why do people care if the wealthy pay a chunk of the accumulated wealth that was earned off of the little guy?
Ex Dividend : From Wikipedia, the free encyclopedia
The ex dividend date, also known as the reinvestment date, is a finance or investment term related to the payment of dividends.
Many publicly-traded companies pay dividends to their stockholders. The question of who should be paid dividends becomes complex, as these companies are continually being traded and the composition of their shareholders therefore changes each day. In order to settle this question, companies designate a date, known as the record date. Dividends are paid to the list of shareholders who hold stock on the record date. The process is further complicated by the fact that it takes time for a stock purchase to "clear" or "settle". In order to allow time for this processing, stock exchanges set a date - generally two business days prior to the record date - known as the ex-dividend date. Someone who purchases the stock after the ex-dividend date will not receive the dividend, as the purchase will not "settle" by the record date, and therefore the buyer will not be on the list of shareholders to which the company pays its dividends.
Note that dividends are not always paid on the record date. Dividend payment is made on a separate date known as the due date.
When the market opens on the ex-dividend date, the exchanges automatically decrease the price of the stock by the amount of the dividend. This is done because the dividend payout will decrease the value of the company, as it comes directly from the company's reserves.
Calculating the exact ex dividend date can be important if the dividend is big, and the stock has been sold on or near the ex dividend date. As of now, July 2005, the United States has three days of settlement for stock trades, although there has been talk of shortening to one day. So the ex dividend date is normally two business days (3 minus 1) before the record date. Business days are defined by when banks are open in New York City, not by when the stock markets are open. Thus Columbus Day and Veterans Day are business days for the stock markets, but not for calculating an ex dividend date. If the record date isn't a business day, then you count back from the most recent business day instead of the actual record date. For instance, if the record date is Sunday, then the ex dividend date is the preceding Wednesday, not Thursday - assuming no holidays.
If a corporation is distributing something other than a cash dividend, such as rights or warrants, then an ex-dividend date can be called an ex rights date, or ex warrants date, etc.
letinman: LOL,, It is not a debate that either side will win. As for the Dems they are willing to stand by and see if the republican politico's will continue to shoot themselves in the foot. The democratic party is a loose bunch of elite thinking idiots who can't agree on anything. The fact that they put Howwierd Dean in charge is more than telling. I doubt they will take back control. The issue is IRAQ and border security/illegal immigration. Why muddy the waters with obscure, to most, death taxes. It does not apply to the vast majority of the population. As I recall the tax was put in place for extraordinary government expenses, such as war!
Remember the Smothers brothers, mom likes you best! OTC vs. Len. I had no intent on debating either one of you, just could not stand the complete and total inaccurate example of death taxes that OTC offerred up.
otc: "you simply want to try to attack my stance." I provided you with the facts, now you can make an informed stance instead of using a faulty example. It is not a big issue to you or me if we are not taxed at death because of the exemption.
The estate tax exemption rises to $3.5 million in 2009 and then it ends. I think the $3.5 million number is fair if we must have an estate tax. It is hard for me to feel sorry for those with bigger estates, but I don't really like the system. I really focus more on my dislike of how income taxes are levied on us. FLAT tax would be system of choice without an estate tax.
Do some research as it appears you either can't understand or don't want to believe what I said.
$2 million exemption means NO NO NO TAX
Stepped up basis MEANS that you would have the tax basis on the DATE OF DEATH of your recently deceased relative at the then current fair market value of the property. If the property was worth $2 million on the date he died, then your cost basis for taxes would be $2 million.
I HAPPEN TO BE AGAINST THE ESTATE TAX, but I find your discussion to be invalid as you don't fully understand what you are talking about.
Huh? I just got through explaining that most likely nobody would pay taxes on your hypothetical transaction and you come back with garbage.
OTC: Not going to argue with your point, however you do not have any real knowledge of how taxes work. You said,
Lets say i was lucky enough to have a granfather that left me land valued at $2 mil.
It is producing nothing for me and I dont have the money to pay a 30%(?) tax on the value of my land. Must i now sell 30% of my land just so I can pay the tax? Guess what? If i do, then i have to sell some more to pay the tax that is owed on the profit i made selling the 30%.
Just because i was left a piece of land valued at 2 mil that doesnt mean I all of a sudden have fat bank account. If i do sell the land i will have to pay tax on it when i sell it. Until then, i have made nothing on it.
So i should pay 30% up front and then when i sell my remaining 70% of the land my grandfather wisely invested in I must pay taxes on that too?
Firstly, the estate would pay the tax if any is involved not you as the beneficary. Secondly if you received the property and then sold it, you would use the stepped up basis of the property with it's value at date of death in most cases and not owe any taxes on the sale. Obviously if taxes were owed and the estate could not afford them, then the estates executor would sell off the property. Currently the federal exemption is $2 million, so you would not owe any taxes.
Don't blow your windfall. LOL
OT: Portfolio Analysis: Vanguard has been giving higher net worth clients a free portfolio review recently. They claim it is worth up to $1,000.00. I took them up on the offer about 2 weeks ago and the advisor was mildly bashing me for having 60% of my investable assets in CASH. I should have taken that as a sign and sold out the other 40% of equities.
What size screen? LOL
MSFT: Back in March I said the following on the VMC large cap board. "MSFT: Besides having an effect on msft, what do you think the delay in VISTA software will do to the tech industry for the rest of the year. I am guessing it is a killer."
No one commented, like talking to a wall. Currently the media is downplaying Googles new free spreadsheet and M Word clone software that is free for all to use. Sure the software is new/beta and simplistic but in the long run Google is going to eat Microsoft alive with free software and kill the giant. Imagine Bill Gates having to give his software away on line without revenue. Google realizes they can give it away and take in big ad dollars. If I still bought individual large cap stocks I would be short MSFT & long GOOG for the longterm.
Lentinman: Trendlines: How does a trendline (or any TA) work for an individual stock versus a mutual fund comprised of many stocks? I would think that it differs, but I really have no basis for my thoughts on the subject.
Interesting, maybe not all that meaningful.
Are Dick Cheney's Money Managers Betting on Bad News?
By Steven Goldberg
Kiplinger's Personal Finance
Vice President Cheney's financial advisers are apparently betting on a rise in inflation and interest rates and on a decline in the value of the dollar against foreign currencies. That's the conclusion we draw after scouring the financial disclosure form released by Cheney this week.
As of the end of last year, Cheney and his wife, Lynne, held between $10 million and $25 million in Vanguard Short-Term Tax-Exempt fund (it's impossible to be more precise because the disclosure form lists holdings within ranges). The fund's holdings of tax-free municipal bonds mature, on average, in a little more than a year -- meaning that the fund should hold up well if rates rise.
The Cheneys held another $1 million to $5 million in Vanguard Tax-Exempt Money Market fund, which is practically risk-free and could benefit from continued increases in short-term interest rates. And the couple had between $2 million and $10 million in Vanguard Inflation-Protected Securities fund. The principal and interest payments of inflation-protected bonds rise along with consumer prices, making them good inflation hedges.
The Cheneys also had between $10 million and $25 million in American Century International Bond. The fund buys mainly high-quality foreign bonds (predominantly in Europe) and rarely hedges against possible increases in the value of the dollar. Indeed, its prospectus limits dollar exposure to 25% of assets and the fund currently has only 6% of assets in dollars, according to an American Century spokesman.
The Cheneys' total assets could be as high as $94.6 million, according to the disclosure form. The vice-president's advisers say the vice president pays no attention to his investments. His lawyer, Terrence O'Donnell, says outside money managers supervise the investments. "He has nothing to do with it," O'Donnell says.
As for stocks, the couple held between $1 million and $5 million in Lazard International Equity and a like amount in Lazard Emerging Markets funds. The Cheneys' relatively few U.S. stock fund holdings include $1 million to $5 million in GMO Tax-Managed U.S. Equities III.
President Bush may be bold in his public policies, but his private investments appear decidedly on the meek side. Bush and his wife, Laura, reported on their disclosure form that they held combined assets of $7.2 million to $20.9 million.
As of the end of last year, the Bushes' two largest assets were their Texas ranch, valued at between $1 million and $5 million, and a blind trust, also valued at between $1 million and $5 million. Of course, it's impossible to tell how the trust is invested, so it could be heavily in stocks. The White House would not make the trust's managers available for comment.
Beyond the trust, the First Family's investable assets are largely in super-safe Treasury notes, money-market funds and bank certificates of deposit. The Bushes' holdings in these instruments totaled between $1.7 million and $4.4 million. The President also listed a Health Savings Account worth between $1,000 and $15,000.
The Bushes confine most of their stock investing to their relatively small IRAs and to the President's retirement account from when he was governor of Texas. As of last December, that account was worth $108,016 and was invested entirely in Vanguard Wellington, which owns stocks and bonds.
The President's IRA, worth $87,074, includes $30,142 in Capital Income Builder, a balanced fund that's part of the American funds family; $30,866 in Growth Fund of America, another American fund; and $24,219 in zero-coupon U.S. Treasury bonds. Nearly all of the First Lady's IRA, worth $8,556, was also in Capital Income Builder.
Len, pulling the trigger on the sale of stock is the emotion I am talking about, not the emotional let down if Brinker is wrong and I failed to sell because of it. If I follow him and only sell or buy when he says so, then I have used him as my technical indicator to exit or enter the market. No emotion used for those 2 items. If I lose money because of waiting for him, that is a different story and would cause me or some other follower of his to reevaluate why we listen to him.
I don't expect that he will be perfect, I just know from experience that I would have jumped out of the market 20 points ago on the SPY's.
len, don't want to beat this subject to death, but when someone addresses a communication to me and says "you" or "your", I ALWAYS take that to mean ME and not me and everyone.
As for Brinker, I am relying on his skill to time the market. What would the point be of listening to him only some of the time. I either have faith in his skill or I would move on.
Len, there is no reply to what you said that you would ever except. You are forcasting my emotional future .... ROTFLMAO, how can you possibly know what I would do in any situation. Are you omniscient?
You said you are not emotional about it fine. Why the attack on my situation, I was not attacking you.
If a nuke goes off in NYC, I possibly would lose a portion of my family and could give a flying F**k about the stock market.
I have enough CASH to live a pretty good life for a nice long time!
len: As long as you can hold you short position, in the long run I would think you will do fine. However it seems you have done this as an emotional play, "I'm sick of waiting". The one great advantage for me of waiting on Brinker is that it takes the emotion out of it for me. But then again, I gave in early this year and sold off a good sized portion of QQQQ & SPY and prices somewhat higher than today's sinking ship.
Good luck with the short, although I am hoping it goes higher before it sinks.
stanu: What is the conflicting messages that the Fed Chairman has issued? He seems to be a straight anti-inflationary hawk! He is either trying to keep the markets from running higher beyond what he believes is fair value, or he has a cousin who is cleaning up with huge short plays. I am not conflicted about him, he is the enemy and is screwing with us.
Len, I would have to research the exact date, he said as I recall to sell most of your stock, perhaps retaining 25% of those positions which you did not want to part with. I of course retained the wrong ones, LOL, but was it was only about 10%. So I went 90% into cash sometime in Jan. And on his 3/11/03 100% into equities I only put about 70% in, which was good, not as great as what I should have done. That is where being to conservative in my old age hurt me somewhat.
Len, you are right, I was looking at SPY which was late March peak. The Dow means little to nothing to me and I doubt you put much stock in it either. So he was 3 months ahead of the SPY. I will take it!
lentinman, I guess we would have to define the meaning of "crest" and what index or measure it is based on. Brinker was lambasted & ridiculed for his 2000 market exit call. He was 6 months or so early, but had you sold (i did) when he said, you did very nicely. And his 3/11/03 re-entry was not as low as the fall of 2002, but it qualifies as an awesome call anyway.
Figure all this out and we have a bet. The donuts for an out of towner will set you back about $5K, LOL.
OT: Unemployment, as I recall from my long ago accounting days.... on a very random basis my clients would receive a government form to report the employment statistics of the company. These reports were usually given the lowest priority and if we did return them for our clients they were usually estimates of what might have actually happened. They were so NOT real time it was ridiculous. I never have put much faith in the unemployment numbers, nor the revisions. Employer unemployment reports to the States were always done quarterly and with a 15-30 lag time, they were not much help either.
OT: Your right, he should have said "for the nincompoops".
Lentinman: On the VMC non political board you said "If he's that much in denial, I'm not sure I hold out any hope that he will recognize the inherent problems facing this economy until it is well beyond the crest."
I will bet you a dozen donuts from Sesame Donut in Portland, OR that he gets out before the crest of the market! If I am wrong, I will borrow the money to buy a dozen for you!
cancel, to political for some.
JMIH: HWEB: Although I am long, I don't like the 5,000 share lots at the bid. That has accounted for most of the action. I hope you are right however!!!