sharemarket discussion thread (2 Viewers)

[stazi]

i dont care. but it's personal where i got it all to begin with.

yes, i started off with 100k invested in the sharemarket. Gave it to a stockbroker at DFS equities who my uncle recommended, my uncle neglected to tell me that my uncle pulled my money out of the whole thing before i went into it because he could see that the stockbroker was making shit decisions.

i currently have 1000 shares in QBE insurance
and 490 shares in WOR worley parsons energy

The biggest loss of my money was because my stockbroker made the fucking idiotic shit mistake of purchasing heaps of shares in AED oil, who are fucking shit, and tried to find oil in some obscure puffin field bullshit crap, then he sold them off because they were a sinking ship.

WOR started off being a good choice but it's tanked badly recently (cost basis: 35.900...current price: 21.520)


my friend tells me that i can write off my losses through tax, so that i don't have to pay 100,000 dollars worth of tax....is that true???? can anyone confirm this?

you could write off losses through tax if you earned money from employment when you sold. e.g. if you sold at a $50k loss, you could reduce your employment income. but you dont work

 

[blue_chameleon]

my friend tells me that i can write off my losses through tax, so that i don't have to pay 100,000 dollars worth of tax....is that true???? can anyone confirm this?

That's true to an extent. Capital losses can offset capital gains, but not income.

So if you make a loss of $70,000 on your portfolio, you don't pay tax on up to $70,000 in capital gains that you might make later. But this is only for your portfolio and doesn't apply to income you earn.

EDIT: Ok, already been answered by above. Although, Staz, you can't write off assessable income against losses made on investments.

 

[stazi]

what a great day


and fucking lol

p.s. maybe we should temporarily move discussion to this thread: http://community.boredofstudies.org/showthread.php?t=183471&page=9&highlight=sharemarket

 

[Rafy]

Dji 9,387.61 +936.42 (11.08%)

 

[04er]

Dji 9,387.61 +936.42 (11.08%)

 

[stazi]

haha yeah, should be a good day. wish i didnt sell AGS yesterday (well about 25% of it) but i needed the money, and even at a 5% DJI gain, i doubt that AGS would have risen, as the 50% gain it had last night seemed too high, and investors would probably counteract that

 

[chicky_pie]

wow today's market vrooom high, we're back at 71USD cents, time to buy online dildos from America

 

[bazookajoe]

Haha this is amazing. I can just put back everything I took out and earn a shitload

 

[electrolysis]

eeeeeeeeeeek today was bad, reallllllllllly bad :angry:
shouldve sold everything on tuesday when i had the chance

 

[stazi]

eeeeeeeeeeek today was bad, reallllllllllly bad :angry:
shouldve sold everything on tuesday when i had the chance

was pretty obvious it would happen. sucker rally. nothing more

dow jones index should finish a bit down, or flat overnight

 

[Captain Hero]

lol shares

 

[blue_chameleon]

Just got back from a Conference in Fiji and had a guy from AllianceBernstein talk on the direction of the economy and stock markets, both global and aus. He put a nice spin on things as he's a great presenter, although the fundamentals in the data are pretty worrying.

If anyone wants the powerpoint, just PM me.

 

[stazi]

yeah would be great if you could send me the PPT

lucky you. fiji.

etrade has an amazing deal right now, btw. $700 of brokerage.

I think i'll put in $2k, over 4 shares ($500 each) due to that deal. FMG, RIO, AGS and some other spec

 

[hiphophooray123]

good day today

 

[Rafy]

Dji 7,552.29
-444.99 (-5.56%)

 

[Dumsum]

Looks like BHP might drop below $20.00 today

 

[grado8]

Looks like BHP might drop below $20.00 today

I think its amazing how far BHP has dropped...i bought shares early last year for $31 nd sold for $44...ever since then they have dropped...glad i got out when i did

 

[stazi]

yeah. this is becoming a bit scary. usually you'd see a bounce after a 5% drop. really makes me wonder whether the bottom is much lower than expected. all ords may go dangerously close to the 2999 mark

 

[Dr. Oyster]

How are my Rio Tinto shares?

 

[Rafy]

massive rally in the last hour.