I like what you're saying. There's a caveat, however---
You can't use more than $3,000 in prior yearly losses as an offset, according to my CPA.
Seniors, if selling MLPs held 52 weeks or greater, are taxed at a 10% rate if long term holds and 15% on short term. This feature is under attack now as our government struggles to meet financial obligations.
I sold just about $160,000 in ALDW yesterday in my general account. The adjusted gain is about $50,000 with all of it being long term. If I'm seeing things correctly, my tax exposure is the $50K with 10% the multiplier. Deduct $3K from a prior loss and my hit will be very small in comparison to what I would have thought until looking at the numbers just now.
I'm not an accountant so you must get ALL your advice from your CPA for sure. In other words, I may be sizing things up incorrectly. But I'm comfortable enough---not because of having enough money to cover my you-know-what--- but because I'm proud to pay my share of taxes, given my incredible good fortune being able to generate a fine income at my age. (I'll be 13 in just four years. lol)
As for buying in 100-200 share chunks? I go after larger amounts as a rule. But if orders are slow in executing I'll decrease order size.
Yesterday I bought DK in a few 500-share lots. I always do it as all or none (AON) orders just to get it done, no loose ends. I also know the mm's like to minimize bother and often go after the larger offers. But yesterday I needed to understand how attractive my offers were so I suspended the AON and groaned as my order completions trickled in. However, that's what I needed to know as it very effectively guided me as to pricing. I did this selling ALDW and buying DK both. It was easy to see the approach saved me a lot of money.
I'm so glad you're going to be with us on this next leg of our foraging journey! Give my best to Justin, too, please.
One last word of caution to you and all others reading these boards of ours:
I may be wrong! I'm expecting an ALDW crash that may not happen. Some believe there's an inbred relationship existing between ALDW and DK. I recognize there's some sort of relationship, of course. But as Kevin O'Leary says on Shark Tank---it's dead meat. ALDW will cease to be more than a memory in a few months. This doesn't rule out the possibility of a distribution but if I'm right about DK moving much higher in valuation, the positive offsets should become altogether obvious.
Still, I may be wrong. Pete807 and I aren't in full agreement on this subject and my respect for him is huge. He can't help it if he's slower to catch on. lol Actually, his assertion that DK and ALDW must move in lockstep until total dissolution makes a lot of sense to me. At the same time I've got to stick with my senses as they're whut brung me to the dance and rarely fail me. So for now I'm thinking there's a real possibility that ALDW will lose value largely because it's got such a limited future already fairly defined by DK which owns ALDW outright and has made it clear it will be shredded by the end of Q1 of 2018.
Whether pete807 or I prevail isn't meaningful to me and I'm sure he's not looking for bragging rights either. This is just two good friends competing for a place in Heaven.
Sorry, I gotta go and make it rain in a lot of places...will be watching intently though.
It is incredibly important that each of us thinks things through very carefully. So much is changing! And change is always difficult for it calls our self-confidence into question before we can even saddle up for the next day's travel.
Happy hunting!
Ohhh, life as a human can be so difficult at times!
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