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29 minutes ago, automatic said:

Ya, minimizing turnover and maximizing tax efficiency is always important.  On the other hand, we just made 20%+ return in the past 24 hours;  does extra 20% in tax really matter in the grand scheme of things?  To me, safety of position takes precedence over ST cap gains worries. 

I'll let you know how that turns out next year though.  ;)

 

Well let's look at it like this. 

A million dollars profit could be taxed at either $150k or $396k. (roughly. It would actually be a little less than that but top tier bracket is 39.6% I believe) 

One of them is reasonable. The other is half your profit.... 

 

So if I were working with a portfolio of say $3 million, that would be plenty to ride off into the sunset. 15%, isnt so bad. But top tier I come tax bracket would eat a third of it and leave you with $2million or less. That's a big difference. 

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2 hours ago, automatic said:

Try this for a simple exit plan w/ some room to grow the portfolio

Thanks very much for sharing what is obviously a smart plan.  Unfortunately I am a dumb bunny.  (or ant...).  So I don't get what you mean by rebalance?

Also I must admit to a fair bit of pressure from my wife to take at least a small profit before it all dissapears in a puff of smoke.  For some reason a lifetime of watching me make bad decisions hasn't instilled in her the confidence that I know what I am doing with this thing...   :) 

 

So with extreme reluctance (and with at least nearly a year of breather before she insists I sell some...) I'm considering parting with a small percentage ( or loose double that percentage in vulnerable flesh while I sleep... :) )

So I am starting to consider parting with say 5% in a year or so.   So my plan might be a simple Sell 5% when at 21 times my buy-in.  But I am open to reconsider and might one day adopt the kind of plan you mentioned.  I do think it might easily reach 21 times buyin this year.

So if you could please elaborate on 'rebalancing' I would very much appreciate it.

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5 minutes ago, RegalChicken said:

No but now I'm curious lol

Me too! I don't have snapchat (atleast I don't participate), so what is the ad? 

Also, as a side note does anybody get the feeling that perhaps (even though its a joke coin etc, etc) it might prevail?

I mean, the brand recognition is off the charts and I have a feeling most of the coin that was out is gone, never to be seen again...

seriously thinking maybe only 10-25% of the cap might actually be accountable for.... just sayin!

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