Buy and hold

Share to Twitter Share to Linkedin Right now, Chrissy Rochford lives in an RV with her dog Riley. While she has financing for a home of her own, her tiny Utah town of Big Water is refusing to let her make that dream reality. Chrissy’s plans are for a 1,600 square foot home that would leave enough space on the lot for her horse, Sundance. But the town demands that her home as to be at least 2,000 square feet, no exceptions. That restriction exists in most of the town, even though there are plenty of open lots, where the population is just shy of 600 people, and the median income is only $30,000. What’s the point of the regulation? To keep existing home values artificially high. When Chrissy asked the town’s Planning and Zoning Board to change the law, she was told that the town had promised Utah’s state lands administration that the town will maintain the square footage minimum “to keep the property value up.” For now, Chrissy is stuck since the … [Read more...] about Rules Requiring People To Buy Big Homes Are Pricing Americans Out Of The Housing Market

- A + A NEW YORK (May 19): Last fall, on the advice of a friend, Odosa Iyamuosa invested his life savings of US$4,000 in a cryptocurrency called Luna. The 28-year-old, who lives in Abuja, Nigeria, researched the coin himself online, and what he found seemed promising. Luna’s price was soaring, thanks to the success of another coin with which it was deeply intertwined, TerraUSD. Some of the crypto industry’s biggest names had already invested, including Galaxy Digital Holdings Ltd, the high-frequency-trading firm Jump Trading, and venture investment arms of the exchanges Coinbase Global Inc and Binance. For Iyamuosa, it seemed like his best hope to get out of Abuja, where he says many jobs pay just US$2 a day, or less. He’d scraped together a little money selling knockoff Nike and Adidas sneakers to local buyers he found on Instagram. He wanted to increase his savings to US$16,000 and enroll in a data-analytics programme at a college in Toronto so he could get a job … [Read more...] about A US$60 bil crypto collapse reveals a new kind of bank run

(CNN) It seems that every few days, a new star announces their foray into the world of non-fungible tokens, cryptocurrency or some other inscrutable corner of the metaverse -- the general term for a nascent virtual space where people can play, meet, and of course, buy things. This has been a habit for a while now, and every starry-eyed announcement usually promises some form of connection or exclusive opportunity. But for the majority of the population who don't own cryptocurrency or NFTs (and may not care to), big names and the pricey tech concepts they promote make for strange bedfellows indeed. Take some recent examples: Last week, Madonna minted an extremely NSFW NFT collection that featured explicit images of her giving birth to a tree, as well as a 3D model of her undercarriage. Charitably, the reactions were mixed. crypto-terms cryptocurrency: a currency that exists virtually and requires complex technology to verify and use NFT: … [Read more...] about The celebrity love affair with NFTs may be just beginning — even amid flops and doubts

Share to Twitter Share to Linkedin After Elon Musk tweeted his $44 billion Twitter takeover was on hold last Friday and the stock fell, the Saudi royal picked up some shares. Less than a week later, he sold the same Twitter shares at a loss. Twitter investor Prince Alwaleed of Saudi Arabia, one of the A-List investors providing Elon Musk with $7.1 billion of equity financing for his $44 billion Twitter takeover, did some interesting trading of the social media company’s stock over the last week. According to an SEC filing late Wednesday, Prince Alwaleed bought 490,000 Twitter shares for a total cost of $20 million last Friday when the stock was trading between $40.70 and $40.76 per share. That was the same day that Elon Musk’s tweet about his $44 billion takeover of the social media company being on hold sent shares spiraling 9.7% from $45.08 per share at Thursday’s close to $40.72 per share at Friday’s close. The price at which Prince Alwaleed … [Read more...] about Twitter Investor Prince Alwaleed Bought More Shares Friday, Dumped Them Wednesday

The future of the Carmen Court condo building in Denver’s Speer neighborhood and a decision about whether or not its past makes it a historic landmark have both been put on hold. The city’s Landmark Preservation Commission on Tuesday voted to extend the landmark designation application deadline for the building from Oct. 8 to Nov. 9. It’s a delay designed to give the building’s owners, who oppose the building being made a landmark, and the applicants, neighborhood residents who want to see the structure preserved, more time to talk about an amicable outcome. The goal is to strike a deal in which the owners can sell the property but a new buyer can be found that keeps the building intact instead of demolishing it for re-development. The owners of the six condos in the yellow, Spanish- and Pueblo-revival styled building at 900 E. First Ave. first suggested freezing the process for up to 45 days during a Denver City Council committee hearing last week. The matter was set to be … [Read more...] about Owners, preservation advocates agree to pause landmark process for Denver condo building

New York (CNN Business) The 2022 stock market meltdown may not be over just yet. Stocks fell again Thursday, following Wednesday's massive sell-off. The Dow ended the day down more than 235 points, or 0.8%, recovering only slightly from a drop of nearly 475 points earlier in the session. The blue chips are down 14% this year and hit a new 52-week low Thursday morning. The S&P 500 , which is perilously close to dropping 20% from the all-time high it set on January 3 and into a bear market, fell 0.6%. The tech-heavy Nasdaq , which is already in bear market territory, was down 0.3%. The Nasdaq has plunged 27% just this year. Prominent tech stocks were among the bigger market losers Thursday after Dow component Cisco reported sales that missed forecasts and also gave a weak outlook. Cisco ( CSCO ) plummeted 14% on the news. Retail leaders Walmart ( WMT ) and Target ( TGT ) , which have dragged down Wall Street … [Read more...] about Worst may not be over for the market. Stocks fall again

This is an updated version of a story that previously ran on April 28th. When it comes to fraying nerves, this spring is really outperforming. Stocks are now in bear market territory. Interest rates -- and Covid cases -- are climbing. Inflation remains high. Geopolitical unrest continues. And all of it combined is sparking recession fears . No one's finances are immune. But there are ways to guard against losses and make the most of what you have. Lock in a new job now With ultra-low unemployment and plenty of openings , it's a job seeker's market right now. But if there's a recession, that could change quickly. So make hay while you can. Read More "If you are not working, or are looking for a better position, now would be a good time to take advantage of the very strong job market and lock in a position," said Florida-based certified financial planner Mari Adam. To help in your search, here are some resume dos and … [Read more...] about Plunging stocks, recession fears. Here’s how to protect your money

Share to Twitter Share to Linkedin If President Joe Biden doesn’t enact wide-scale student loan cancellation, here are 5 reasons why. Here’s what you need to know — and what it means for your student loans . Student Loans Biden is actively considering whether to cancel student loans for millions of student loan borrowers. If Biden forgives student loans, supporters say it’s the most impactful act that Biden can do as president. Student loan cancellation, according to supporters, will stimulate the economy, reduce disparities, and help student loan borrowers afford to get married, buy a home, save for retirement and start a business. For student loan borrowers looking for a fresh start , it’s essential student loan relief. While Biden has cancelled $17 billion of student loans , he has remained skeptical about broad student loan forgiveness. Here are 5 reasons that Biden could decide not to enact wide-scale student loan cancellation. 1. … [Read more...] about If Biden Doesn’t Cancel Student Loans, Here Are 5 Reasons Why

Share to Twitter Share to Linkedin Crypto markets are notoriously volatile, but even so, the recent activity has been unsettling. Whether you are a buy and hold investor or an active trader with high frequency moves, it is nerve-wracking, and it may not be over yet. For some, it can be downright devastating, particularly if you had put all your nest eggs in Terra UST UST or Luna LUNA . But even those may bounce back, as luna has shocked some by staging a surprise rally . In the meantime, the turmoil may make plenty of crypto investors, as well as people in various crypto and crypto-related businesses less enthusiastic than they were when prices seemed ever to be climbing. But can some tax losses help? As your dollars shake out in the digital world, is there any lemonade you can make by claiming your losses on your taxes to share the pain with the IRS? First, ask what happened from a tax viewpoint. If you‘ve been trading and triggering big taxable … [Read more...] about Do Crypto Losses Trigger Tax Losses With IRS?

Share to Twitter Share to Linkedin You might think the biggest tax debate about bitcoin and other crypto is whether you should report it, or whether the IRS will catch people who don’t. Actually, there’s no longer much debate about these topics. Everyone seems to know that you should report, and that the IRS is after those who do not. The IRS is tracking with software, and the IRS Summons of Coinbase is already bearing fruit with account files for the IRS. In fact, the biggest crypto tax debate still seems to be about 1031 , the tax code provision that allows some like-kind exchanges. Everyone knows that 1031 currently only applies to exchanges of real estate. The Trump tax law passed right around Christmas 2017 means that for 2018, you can forget arguing that swaps of one crypto for another are tax free. But there is debate about the past. Shutterstock If you are about to file your tax return, should you claim 1031 treatment for 2017 … [Read more...] about Claiming Bitcoin 1031 Exchanges On Your 2017 Taxes