Overlords Investment Conclave [OIC] Recruitment Thread

[pr0ner]

My portfolio in general is up 18% this year, which I'm happy about. I just hope CRLBF and QS turn around, they're my biggest dogs down 62 and 70%....ugh. I wish I understood more of what y'all are doing with puts and options, it seems like I'm just playing in the sand watching the waves while y'all are playing chess.

I don't mess with any sort of options trading and I do just fine.

[LawBeefaroni]

Fucking hell. AMC is issuing a dividend in the form of preferred shares that will trade under the ticker APE.

I just read the scheme here. And it's flat out ridiculous.

They had the CEO on CNBC yesterday justifying the scheme. Basically it authorizes 500M (or was it 5B? Does it matter?) shares of preferred in the future if they "need" them.

WSB and the meme shit saved them from going under and at least they are self aware. He mentioned some NFT shit too.

[LawBeefaroni]

My portfolio in general is up 18% this year, which I'm happy about. I just hope CRLBF and QS turn around, they're my biggest dogs down 62 and 70%....ugh. I wish I understood more of what y'all are doing with puts and options, it seems like I'm just playing in the sand watching the waves while y'all are playing chess.

I've been largely out of options in the last year/year and a half. There's no need with all the volatility going on. That and I've been over 50% cash so no real need/want for leverage.

[LordMortis]

Talk me off the ledge. I'm beginning to get some cash accumulating, living well below my means for the last six months. I was thinking about picking up 100 shares of JPM and then just putting out weekly covered calls for small amounts. This is at a time when my the total of my assets is still down 15% on the year and 20% since its high last October. (Which has been a primary motivator for living well below my means) Unlike the smart money here, I did not sell of at the outset of the year and have been riding out the downturn, as I'm not smart enough to know the ups and downs of the market.

JPM is currently under 10 P/E with a nearly 3.5% divy in a rising rate environment. At $118ish a share, that's a high priced equity for me, taking a sizable chunk of my total investment %. I have rarely gone above $50 per share of any equity that isn't a major ETF and even rarer have I purchased 100 shares of that expensive of an equity.

Thinking...


BTW Formix, up 18% on the year coming into last week is fantastic. If that's how you do you, then I'd not be thinking about derivatives at all. For me it's just been a way to squeeze cash out of my more risky and now tanking investments. I learned an expensive lesson selling calls against the securities I didn't actually want to let go of. Also, I don't do puts and I only sell options against securities I own, so there's a calculus and risk that is also well beyond my risk tolerance and therefore effort to understand.

[pr0ner]

It still boggles my mind why you, in your particular situation still mess with options trading at all.

[Carpet_pissr]

It still boggles my mind why you, in your particular situation still mess with options trading at all.

IIRC the numbers he’s thrown around in the past are more like ‘play money’ as opposed to ‘rent money’, right LM? Please say yes.

[LordMortis]

IIRC the numbers he’s thrown around in the past are more like ‘play money’ as opposed to ‘rent money’, right LM? Please say yes.

None of it's play money but since learning from my mistake with my ETFs last autumn, it's a very small portion of my non 401k/IRA portfolio. When I was doing covered call on my ETFs, it was a significant portion of my portfolio. The only options I have out left since straightening out my ETFs are on the covered calls for things I won't mind getting pulled from me. In some cases, for things I'd be happy to get pulled from me. It's a nice bit of supplemental income and entertainment.

JPM would be a lot of money to me and my first purchase in a long time. All I have been doing since winter and quitting my job is letting my CDs mature, replacing covered calls, letting a few things go, and collecting dividends. Over half a year, if begins to accumulate. So I'm caught between just letting it continue to accumulate or trying to squeak some extra pennies out it while taking on the associated risk. JPM looks low risk, comparatively speaking, to me but for me also a lot of money to lay out.

I own my home. There is no rent money. I live off of very little and will continue to do so until I have to join the ACA or pay for my COBRA for insurance. Aside from that my next anticipated large expense will be a new car, which is currently within range, if I need to buy one tomorrow unexpectedly though, it's not out of the question to drive my current car for another two years. It's not likely but not out of the question.

[Pyperkub]

We just listen to our fellow Overlords, not Kardashians and Boxers...

Remember EthereumMax, that cryptocurrency briefly shilled by a handful of rich celebrities and athletes? Well, at least nine investors certainly do—and they’re seeking payback from those celebs, including Kim Kardashian, in a class-action lawsuit.

Billionaire socialite Kim Kardashian is still battling the lawsuit, which alleges she promoted the “pump and dump” token. On Friday, her lawyers filed a motion in a California U.S. District Court to try and have the complaint against her dismissed.

The background: a number of investors sued Kim Kardashian, boxer Floyd Mayweather and former basketball star Paul Pierce in January for allegedly promoting the crypto token...

...Kim Kardashian’s defense now, according to Friday’s filing, is that the token buyers are only relying on two of her Instagram posts—and in those posts, the celebrity didn’t give investment advice, she claims.

The filing also says that the token buyers haven’t specified that they saw Kim Kardashian’s posts ahead of time or that they bought the EMAX tokens because of the posts.

“Crucially, no named plaintiff alleges that they in fact viewed either Instagram post before purchasing tokens during the relevant time period,” it says.

You endorse sketchy stuff, you end up sued when it's sketchy... no matter what...

And while you may wish to park your money in Crypto, just know that it's not an investment, it's a gamble on currency fluctuation - you can make money at it, but you are not the House...

[LawBeefaroni]

Fucking hell. AMC is issuing a dividend in the form of preferred shares that will trade under the ticker APE.

I just read the scheme here. And it's flat out ridiculous.

They had the CEO on CNBC yesterday justifying the scheme. Basically it authorizes 500M (or was it 5B? Does it matter?) shares of preferred in the future if they "need" them.

WSB and the meme shit saved them from going under and at least they are self aware. He mentioned some NFT shit too.

AMC is around $10 and APE is around $6 today. On Friday AMC was $18 so net loss for the AMC apes. I expect them both to continue down once the excitement/confusion wears off.

"Non-dilutive." Lol.

[LordMortis]

Wish I were heavier in cash now. Of course, if I were heavier in cash I'd probably be start putting more in securities... After I put some in what are pretty attractive CD rates right now. The value of my securities just hit a low relative to the money I've been putting in. Still staying invested. It seems silly to convert securities to money now, though I have to face the idea that inflation is shortening the duration of cash the I have set aside to live on. Depending on the next "bear market rally" I may liquidate some of my positions. I'd just have to figure out what the criteria will be and how much more cash I want. The problem with buy and hold seems to be, well, when do you stop holding?

[Kraken]

Hold off on CDs until the Fed stops talking about aggressively raising interest rates. By the end of this year/early next CDs will probably be paying a couple percent more than currently.

I turned all of our retirement money over to an investment adviser this week. Next week we'll meet to discuss my risk tolerance and investment preferences. Now that we're within two years of retiring my #1 goal is "just don't lose the money." The adviser says annuities will reliably return 4-5% with almost zero risk.

When we tried to move Wife's 401k balance to a custodial something-or-other we were told that her employer's plan doesn't support that, which surprised the adviser. He says that's very rare, especially since the 401k is at Fidelity and he works exclusively with Fidelity -- the money wouldn't actually be going anywhere else, just changing management. (shrug) I want to keep ~20% of our money in securities anyway, so it looks like I'll continue managing that until she retires. His advice was to get out of bonds entirely ASAP, as they're getting clobbered with every new rate increase. So I'll probably cash out of those funds this weekend and put the money into stocks and cash. I'd like to buy some ESG funds, and I need to explore what Fidelity offers in the way of CDs and/or money market funds (i.e., cash).

[LawBeefaroni]

In other news, MNMD is looking strong. Starting to think it might not get a secondary offering and resultant pullback.

It took a while but they did get that secondary. 50% pullback on the
news after a 90% decline over the the last year. $3 now after a reverse-split-adjisted one year high of $44. 50% drop on the news. I knew it but that's why timing is more important than being right. They can fake it longer than you can stay liquid on a bet.

[Madmarcus]

Hold off on CDs until the Fed stops talking about aggressively raising interest rates. By the end of this year/early next CDs will probably be paying a couple percent more than currently.

I've stayed out of this thread (I think?) in the past but this touches on my current situation enough to get me to ask something. Where would you put cash right now that you want to hold to use in buying a house next year?

The medium length story (I don't want to do the long version now) is that we have a ton of things we invested in that we've simply held without any real action on our part since we started investing in the early 90s. More or less the amount needed for the cash purchase of a new house. The funds themselves are OK to poor performers over the years. We have enough in other investments that using these mutual funds would still leave us with enough to live on using the 3-4% FIRE type idea (since the house would then have no mortgage).

This year we have some salary income from the half year I was working but also have harvested basically $40k in capital losses plus up to about $19k more. It makes sense to me to sell some of the funds with capital gains up at least the amount to cover the losses. That can get us roughly $250,000 in cash that we'd want to park somewhere. Then we have the other big issue; if we move this year we'd eat the additional capital gains and sell the rest. If we move next year we wouldn't have any salary or retirement income so we'd be able to take more advantage of the 0% capital gains range.

I turned all of our retirement money over to an investment adviser this week. Next week we'll meet to discuss my risk tolerance and investment preferences. Now that we're within two years of retiring my #1 goal is "just don't lose the money." The adviser says annuities will reliably return 4-5% with almost zero risk.

I so want to ditch our advisor! But really I'm interested in your annuity. I tend to be very anti-annuity on principle so I'd love to hear more details of how you think it will work out long term since my gut feeling is that taking out 4-5% yearly feels too good to be true.

[Kraken]

I so want to ditch our advisor! But really I'm interested in your annuity. I tend to be very anti-annuity on principle so I'd love to hear more details of how you think it will work out long term since my gut feeling is that taking out 4-5% yearly feels too good to be true.

We're meeting with him tomorrow afternoon. I'm leery of annuities, too, and will require in-depth explanation and some convincing.

Our house cash is currently earning 2% interest in a Capital One360 savings account. Not exactly a sophisticated investment but at least it's not losing money, and the rate inches up every time the Fed meets.

When I went into Wife's 401k to ditch the bond funds as recommended, I noticed that they have lost less money YTD than all of our equity funds have done, so I left them alone and instead pulled some cash out of the worst-performing stock funds and plopped it into a money market fund -- again, the point being to simply staunch the bleeding. When it looks like the market might be testing a bottom I'll put it back into those same funds, since they're apt to gain as dramatically as they lost.

[LawBeefaroni]

Hold off on CDs until the Fed stops talking about aggressively raising interest rates. By the end of this year/early next CDs will probably be paying a couple percent more than currently.

I've stayed out of this thread (I think?) in the past but this touches on my current situation enough to get me to ask something. Where would you put cash right now that you want to hold to use in buying a house next year?

Right now? Cash/cash equivalent. 6 month or 12 month CD.

$250K at 3 would kick off enough to cover closing costs, possibly. But with a 1-year horizon your goal is capital preservation over anything else.

[Carpet_pissr]

They can fake it longer than you can stay liquid on a bet.

So, so true. Zero consolation that I sold to gravy when it was in the pre-split $5 range. I’ve never seen so much self-inflicted devaluation in such a short amount of time as I have with this. Just…stunned.

I guess my initial ‘basket ‘o psych stocks’ is down one more. I figured at least ONE would make it big out of the 5-6 I bought. Looking like it could be Compass or Cybin at this point. Could certainly be ‘none’ though!

MNMD makes me almost physically ill considering I could have paid for at least two of my kids’ college with the gains I would have had if I sold it all when it was in the $5 range.

[LordMortis]

Right now? Cash/cash equivalent. 6 month or 12 month CD.

That's what I'm thinking TD shows 6 month non callable new issues at 3.9, one year at 4.1. If I were parking cash anywhere but in cash, I'd be pretty happy with those rates. If I squeeze enough out of my burning equities, I'll be parking that money in CDs but as it goes, I'm letting my equity money burn and while fearing that inflation will eat at my cash too heavily before I need to start cashing in some of the equities. I thought I had a good 2-3 year cash cushion but now it looks like it might be tight 2 year cushion and 2 years might not be long enough to see the other side.

At 4%, the end of TINA is here, especially when you see the markets.

[LordMortis]

Lawbeef or Izzy, show your worth! I have covered calls out for ACI, which is now merging with KR. I'm trying to figure out when this merger will happen to figure out if I want to try and play with the call or just resign myself to the fact that someone else will get $34 per share after special dividend for $27 January call. (This always happens to me and I'm always on the short end. Companies split and lose value and I'm stuck or they merge and gain value and I miss out. Ah well. I guess that's the misery of covered calls but M&A has now hit me for being a sucker 3 times this year, GSK, T, and now ACI)

Edit:

IIR(ead)C the option will shoot up before I get a chance to buy it back and will get exercised before the 24th.

Press Release: Albertsons Companies Announces Special Dividend in Connection with Signing of Merger Agreement
7:18 am ET October 14, 2022 (Dow Jones) Print

Albertsons Companies Announces Special Dividend in Connection with Signing of Merger Agreement

BOISE, Idaho--(BUSINESS WIRE)--October 14, 2022--

Albertsons Companies, Inc. (NYSE: ACI) (the "Company") today announced its Board of Directors has declared a special cash dividend of $6.85 per share of Class A common stock (the "Special Dividend"). The Special Dividend is payable on November 7, 2022, to stockholders of record as of the close of business on October 24, 2022. The Special Dividend has been declared in connection with the Company entering into an Agreement and Plan of Merger, dated October 13, 2022 by and among the Company, The Kroger Co. and Kettle Merger Sub, Inc. (the "Merger Agreement"). Details regarding the Merger Agreement and the transactions contemplated by the Merger Agreement can be found in the combined press release issued by the Company and The Kroger Co. on October 14, 2022.

About Albertsons Companies

Albertsons Companies is a leading food and drug retailer in the United States. As of June 18, 2022, the Company operated 2,273 retail food and drug stores with 1,720 pharmacies, 402 associated fuel centers, 22 dedicated distribution centers and 19 manufacturing facilities. The Company operates stores across 34 states and the District of Columbia with 24 banners including Albertsons, Safeway, Vons, Jewel-Osco, Shaw's, Acme, Tom Thumb, Randalls, United Supermarkets, Pavilions, Star Market, Haggen, Carrs, Kings Food Markets and Balducci's Food Lovers Market. The Company is committed to helping people across the country live better lives by making a meaningful difference, neighborhood by neighborhood. In 2021, along with the Albertsons Companies Foundation, the Company contributed nearly $200 million in food and financial support, including approximately $40 million through our Nourishing Neighbors Program to ensure those living in our communities have enough to eat.

Important Notice Regarding Forward-Looking Statements

This press release contains certain forward-looking statements. Statements that are not historical facts, including statements regarding the Company's expectations, perspectives and projected financial performance, are forward looking statements. The words "expect," "believe," "estimate," "intend," "plan" and similar expressions, when related to the Company and its subsidiaries, indicate forward-looking statements. The forward-looking statements are based on the Company's current expectations and involve risks and uncertainties. The Company cautions that actual results could differ materially from the expectations described in the forward-looking statements. These risks and uncertainties that could cause actual results to differ materially from those expressed or implied in the forward-looking statements include those related to the COVID-19 pandemic, about which there are still many unknowns, including the duration of the pandemic and the extent of its impact. The Company also cautions that undue reliance should not be placed on any of the forward-looking statements, which speak only as of the date of this release. The Company undertakes no responsibility to update any of these forward-looking statements to reflect events or circumstances after the date of this report or to reflect actual outcomes. Certain potential factors that could affect our business and financial results and cause actual results to differ materially from those expressed or implied in any forward-looking statements are described in the "Risk Factors" section or other sections in our Annual Report on Form 10-K filed with the U.S. Securities and Exchange Commission (the "SEC") on April 26, 2022, and in reports subsequently filed with the SEC and available at the SEC's website at www.sec.gov.

Additional Information and Where to Find It

The Company will prepare an information statement on Schedule 14C for its stockholders with respect to the approval of the transaction referenced herein. When completed, the information statement will be mailed to the Company's stockholders. You may obtain copies of all documents filed by the Company with the SEC regarding this transaction, free of charge, at the SEC's website, www.sec.gov or from the Company's website at https://www.albertsonscompanies.com/investors/overview/.

View source version on businesswire.com: https://www.businesswire.com/news/home/ ... 005195/en/


CONTACT: Investor Relations Contact:

investor-relations@albertsons.com

Media Relations Contact

Daphne Avila, media@albertsons.com

[Madmarcus]

This isn't really an investment thought but it is tangential to it. Why is it so hard to get a mortgage when you have assets but no income? That's really a rhetorical question since I more or less know why (mortgage lenders covering themselves) but it is frustrating to be forced to buy a house for cash when I would prefer to put down a significant down payment and a small mortgage. The frustration isn't even the cost or documentation but simply that the mortgage broker doesn't want to explore options or offer possibilities.

Grrr.

[LawBeefaroni]

Lawbeef or Izzy, show your worth! I have covered calls out for ACI, which is now merging with KR. I'm trying to figure out when this merger will happen to figure out if I want to try and play with the call or just resign myself to the fact that someone else will get $34 per share after special dividend for $27 January call. (This always happens to me and I'm always on the short end. Companies split and lose value and I'm stuck or they merge and gain value and I miss out. Ah well. I guess that's the misery of covered calls but M&A has now hit me for being a sucker 3 times this year, GSK, T, and now ACI)

Edit:

IIR(ead)C the option will shoot up before I get a chance to buy it back and will get exercised before the 24th.

Press Release: Albertsons Companies Announces Special Dividend in Connection with Signing of Merger Agreement
7:18 am ET October 14, 2022 (Dow Jones) Print

Albertsons Companies Announces Special Dividend in Connection with Signing of Merger Agreement

BOISE, Idaho--(BUSINESS WIRE)--October 14, 2022--

Albertsons Companies, Inc. (NYSE: ACI) (the "Company") today announced its Board of Directors has declared a special cash dividend of $6.85 per share of Class A common stock (the "Special Dividend"). The Special Dividend is payable on November 7, 2022, to stockholders of record as of the close of business on October 24, 2022. The Special Dividend has been declared in connection with the Company entering into an Agreement and Plan of Merger, dated October 13, 2022 by and among the Company, The Kroger Co. and Kettle Merger Sub, Inc. (the "Merger Agreement"). Details regarding the Merger Agreement and the transactions contemplated by the Merger Agreement can be found in the combined press release issued by the Company and The Kroger Co. on October 14, 2022.

About Albertsons Companies

Albertsons Companies is a leading food and drug retailer in the United States. As of June 18, 2022, the Company operated 2,273 retail food and drug stores with 1,720 pharmacies, 402 associated fuel centers, 22 dedicated distribution centers and 19 manufacturing facilities. The Company operates stores across 34 states and the District of Columbia with 24 banners including Albertsons, Safeway, Vons, Jewel-Osco, Shaw's, Acme, Tom Thumb, Randalls, United Supermarkets, Pavilions, Star Market, Haggen, Carrs, Kings Food Markets and Balducci's Food Lovers Market. The Company is committed to helping people across the country live better lives by making a meaningful difference, neighborhood by neighborhood. In 2021, along with the Albertsons Companies Foundation, the Company contributed nearly $200 million in food and financial support, including approximately $40 million through our Nourishing Neighbors Program to ensure those living in our communities have enough to eat.

Important Notice Regarding Forward-Looking Statements

This press release contains certain forward-looking statements. Statements that are not historical facts, including statements regarding the Company's expectations, perspectives and projected financial performance, are forward looking statements. The words "expect," "believe," "estimate," "intend," "plan" and similar expressions, when related to the Company and its subsidiaries, indicate forward-looking statements. The forward-looking statements are based on the Company's current expectations and involve risks and uncertainties. The Company cautions that actual results could differ materially from the expectations described in the forward-looking statements. These risks and uncertainties that could cause actual results to differ materially from those expressed or implied in the forward-looking statements include those related to the COVID-19 pandemic, about which there are still many unknowns, including the duration of the pandemic and the extent of its impact. The Company also cautions that undue reliance should not be placed on any of the forward-looking statements, which speak only as of the date of this release. The Company undertakes no responsibility to update any of these forward-looking statements to reflect events or circumstances after the date of this report or to reflect actual outcomes. Certain potential factors that could affect our business and financial results and cause actual results to differ materially from those expressed or implied in any forward-looking statements are described in the "Risk Factors" section or other sections in our Annual Report on Form 10-K filed with the U.S. Securities and Exchange Commission (the "SEC") on April 26, 2022, and in reports subsequently filed with the SEC and available at the SEC's website at www.sec.gov.

Additional Information and Where to Find It

The Company will prepare an information statement on Schedule 14C for its stockholders with respect to the approval of the transaction referenced herein. When completed, the information statement will be mailed to the Company's stockholders. You may obtain copies of all documents filed by the Company with the SEC regarding this transaction, free of charge, at the SEC's website, www.sec.gov or from the Company's website at https://www.albertsonscompanies.com/investors/overview/.

View source version on businesswire.com: https://www.businesswire.com/news/home/ ... 005195/en/


CONTACT: Investor Relations Contact:

investor-relations@albertsons.com

Media Relations Contact

Daphne Avila, media@albertsons.com

I haven't looked at the details of the merger but ACI is $26.36 right now. $27s are pretty much right at the money and I don't think it's a forgone conclusion that it will hit $34 by Jan. I don't know if the ACI calls will adjust for the special dividend but there's a decent chance you keep your shares.

Looking at the OCC it looks like there may be an adjustment.

ACI/2ACI New Option Symbols: ACI1/2ACI1 Date: 10/21/2022
(PDF)

[Pyperkub]

This isn't really an investment thought but it is tangential to it. Why is it so hard to get a mortgage when you have assets but no income? That's really a rhetorical question since I more or less know why (mortgage lenders covering themselves) but it is frustrating to be forced to buy a house for cash when I would prefer to put down a significant down payment and a small mortgage. The frustration isn't even the cost or documentation but simply that the mortgage broker doesn't want to explore options or offer possibilities.

Grrr.

Generally, you need to sell the assets, unless you are large/institutional enough.

[LordMortis]

I couldn't figure out how the special div was going to work so I bought my option back at about $100 loss. I've been screwed before on that and I had the opportunity. In retrospect I should have waited until the 21st once it was clear the market wasn't going to jump and would have been too late if it had.

[malchior]

The frustration isn't even the cost or documentation but simply that the mortgage broker doesn't want to explore options or offer possibilities.

There is unfortunately nothing to explore. The root problem is you want to "buy" a product that doesn't exist. They'd have to find a bank willing to make a custom loan that the bank wouldn't be able to re-package or re-sell.

[Pyperkub]

The frustration isn't even the cost or documentation but simply that the mortgage broker doesn't want to explore options or offer possibilities.

There is unfortunately nothing to explore. The root problem is you want to "buy" a product that doesn't exist. They'd have to find a bank willing to make a custom loan that the bank wouldn't be able to re-package or re-sell.

And also take on the risk that the assets could be subject to a lawsuit, or take on other risk (e.g. Retirement funds shrinking, etc.). They want the cash up front

[Madmarcus]

While I can rant and rail I actually perfectly understand why it is problematic to get a mortgage with no steady income even if as a big believer in most of the principles of the FIRE movement I dislike the focus on dividends and interest.

The exploration bit was born out of the frustration with a different part of the process. In looking at houses we want to look at all the options. Houses ranging from 300k to 550k. Everything from 80% mortgage to all cash. Which the mortgage broker clearly doesn't want to deal with even though we started the process with a clear idea that we were getting aiming for pre-approval. Last time we bought a house we were presented with various options in rates, possible discount points, 30 year vs. 15 year. vs. ARM. This time we got one non-binding workup for a case that is silly (basically stating that if we could magically get the down payment we could do X but that spending anything on the down payment would effect the calculations). How would selling our current house first compare to obtaining a bridge loan? Who knows! She mentioned a bridge loan but can't say anything about them. Would getting a loan against our investments effect the possible mortgage amount? Who knows; she mentioned it as a possibility but he won't say whether it would change the calculations.

[Skinypupy]

Random question for the smart investment folks in this thread.

In cleaning out mom's office after she passed a couple weeks ago, we found a hard copy certificate for 5 shares of "American Financial Group, Inc" stock that was apparently purchased by my dad back in 1995. I almost just threw it away with a pile of other stuff, but it happened to catch my eye. Looked it up, and they are currently trading at $140/share.

Can I actually do anything with this certificate? I've never done anything with stocks...no idea how that works.

[LordMortis]

Random question for the smart investment folks in this thread.

In cleaning out mom's office after she passed a couple weeks ago, we found a hard copy certificate for 5 shares of "American Financial Group, Inc" stock that was apparently purchased by my dad back in 1995. I almost just threw it away with a pile of other stuff, but it happened to catch my eye. Looked it up, and they are currently trading at $140/share.

Can I actually do anything with this certificate? I've never done anything with stocks...no idea how that works.

They've also split 3:2 at least once in that time frame.

I don't know anything about owning physical copies of stocks but the Internet says.

https://abcnews.go.com/Business/cash-pa ... d=16364291

From 2012

Investors who are in possession of a paper stock certificate, should look to start a long-term relationship with an online brokerage. It's best to open your account and fund it with savings first, be a customer for awhile and then talk to the brokerage about services that might be able to convert the paper certificate. Most Americans will need a brokerage account and investments if they want any chance at retiring anyway, so having a brokerage account is probably a good idea.

Once you open the account, you can inquire with the brokerage about handling the paper certificates you have. Most of the brokerages now have unstated rules on paper certificate handling. If you open an account and you're going to have a long-term relationship, most of the larger firms may process the certificates for a nominal fee. If you call the brokerage before opening the account, and explain your intentions, you can see what kind of deal they'll be willing to make.

TD Ameritrade says it charges $70 for a transfer of ownership of a paper certificate. However, for customers of its TD Ameritrade Apex service, that paper fee can be waived four times a year.

More recently

https://www.investopedia.com/ask/answer ... ficate.asp

Say you can contact the company to make changes

If so, you can call the company directly to get the transfer agent's contact information.

In order to cash in the stock, you need to fill out the transfer form on the back of the certificate and have it notarized. Once complete, send the notarized certificate to the transfer agent, who will register the stock to you as owner.

At that point, you can sell the stock through the transfer agent or via a stockbroker.

[LawBeefaroni]

Register through the transfer agent to sort out stock splits, dividends, etc. If you have an existing brokerage account they can probably help you do the same and transfer them into your account. I think there's only been one split since 1995 but several dividends.

Of course, I have no idea about how probate would work on all that.

Condolences on your mom's passing.

[LordMortis]

Do you think the IBonds will be worth pursuing in 2023? I see 1 year CDs are pushing 5% and the IBonds are below 7% and likely dropping a bit further. + less taxes. - Can't pull for two years, if withdraw in less than 5 years you lose a quarter's interest payment. ?? Rate of inflation/variable interest rate, though I suspect it will be moving below 5% quickly and hovering somewhere between 3% and 4% before the Fed gives in to 2% being unachievable and I think all of this will happen in 2023.

Note: to get more money into IBonds I would need to sell equities, which I probably should have done already anyway. I'm likely to sell equities to convert to CDs or cash soon anyway, to make sure I continue to have 1-2 horizon on running out of cash without being desperate.

[Zarathud]

Certificates have to go through a transfer agent (they’ll be listed on the company website). You’ll have to prove you’re legally entitled to control the shares, which basically means talking to an estate lawyer about probate or an affidavit procedure depending on the state. Other family members may need to sign off. You may need to get your signature and identity verified by a broker.

[Pyperkub]

Not sure what this is about. Glitch, or something else...

https://www.cnn.com/2023/01/24/investin ... index.html



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[malchior]

It's quiet here. Why not talk about some craziness! Anyone else tracking this potential bank run at SVB? I know that there are VC folks who are *freaking out* right now. I became aware after we had an internal announcement at work that we *don't* bank with SVB.

[LawBeefaroni]

VC and PE are holding a lot of worthless nonsense. It's bound to start showing.


The end of free money means the shit comes due.

A new survey indicates that 81% of early-stage startups are facing a failure in 2023 because—as of the end of October—they had less than 12 months of capital left to keep going because VC funds turned the spigot off last year on a flood of seed funding.

https://www.globest.com/2023/03/01/vc-f ... t-in-2023/

[Carpet_pissr]

It's quiet here. Why not talk about some craziness! Anyone else tracking this potential bank run at SVB? I know that there are VC folks who are *freaking out* right now. I became aware after we had an internal announcement at work that we *don't* bank with SVB.

Our entire company did not get payroll today due to this bullshit.

I blame millennials and their over-reliance on tech and apps and social media pizazz for this. .

Instead of an email, the payroll company (Rippling) sent out a TWEET lett My clients know what was happening. The replies are pretty funny.

“It’s Friday. How am I supposed to buy coke!?”

[LawBeefaroni]

It's quiet here. Why not talk about some craziness! Anyone else tracking this potential bank run at SVB? I know that there are VC folks who are *freaking out* right now. I became aware after we had an internal announcement at work that we *don't* bank with SVB.

Building managers at Silicon Valley Bank’s Manhattan branch reportedly called the police Friday morning after a group of tech founders showed up and attempted to pull out their cash.

Police responded after a group of “about a dozen founders” went to SVB’s Manhattan location on Park Avenue, journalist Eric Newcomer said in a Substack post. One of the founders was former Lyft executive Dor Levi, who provided Newcomer with text updates from the scene.

The incident was the latest indication of growing panic among investors linked to the tech lender, which warned of a cash crunch this week that sparked a run on the bank.

SVB blocked Levi and others who gathered from entering the building. By around 9:20 a.m. ET, building officials “called the police” and a pair of NYPD vehicles had arrived.

https://nypost.com/2023/03/10/nypd-call ... sh-report/

Not your typical bank run.

[LawBeefaroni]

From Newcomer:

Meanwhile, J.P. Morgan’s equity research arm published a supportive analyst note. The firm downgraded its price target from $270 to $177.

SVB’s share price closed at $106.04 Thursday. Trading was halted Friday morning.

“While it’s likely in our view that SVB stock opens much higher than the post-trading session close should the news emerge that the common equity raise was completed, we would be buyers of SIVB shares at this highly attractive valuation. SVB is a world class and highly valuable global franchise and the option to purchase the shares below [total book value] we believe more than adequately compensates investors for the risk being taken,” the report reads.

Sounds like JPM still has a position to unwind.

[Isgrimnur]

Silicon Valley Bank, Santa Clara, California, was closed today by the California Department of Financial Protection and Innovation, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver.

[Zaxxon]

“While it’s likely in our view that SVB stock opens much higher than the post-trading session close should the news emerge that the common equity raise was completed, we would be buyers of SIVB shares at this highly attractive valuation. SVB is a world class and highly valuable global franchise and the option to purchase the shares below [total book value] we believe more than adequately compensates investors for the risk being taken,” the report reads.

That aged well.

[Isgrimnur]

[Isgrimnur]