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There is a ton of definitions, private letter rulings, and case law on the definition of identical when you look up the term "substantially identical" in conjunction with the term "wash sale". It's definition is pretty clear, its just not necessarily all in one place.

What kind of an "institution", exactly, has a compliance department that let's their employees involved in trading "work on something to get an edge" in their free time? I've never heard of any professional money management shop, be that an investment bank or a family office or a fund or...

I like how they spell out the amount, in case their marks aren't capable of grasping the amount in number format!

Agreed. But even if it was approved, it doesn't look like they're even aware of the concept of market makers let alone have they done anything to ensure they have them at 2 am on Sunday morning.....for thousands of stocks....trading fractional shares. You only have to take a look at ICE to see...

I think he just thinks he's immensely clever and has come up with a whole bunch of loopholes to avoid taxes that only he has figured out, since that's what most if his posts seem to be about that I've seen. Apparently the hundreds of thousands of tax attorneys and accountants who do this for a...

What about "You can't deduct transportation and other expenses you pay to attend stockholders' meetings of companies in which you own stock but have no other interest. You can't deduct these expenses even if you are attending the meeting to get information that would be useful in making further...

So first off, it's important to understand what happens to a stock the when it goes ex. It drops by the amount of the dividend, all other things being equal. So in general, your short account will see a gain by the amount of the dividend that exactly equals the loss from the dividend, again...

I like that last paragraph, it's a good way to think about it.

If you held on through to today you might just be breaking even, if you put nothing down. If you had to move any time between 2008 and today you would have taken a bath. Even if you rented it out then, rents had fallen significantly so they would probably not cover your interest plus some return...

I'm not exactly sure what you're trying to do either? Are you trying to effectively trying to make your IRA bigger while your taxable account get's smaller?

I did buy in 2008 (not in LV thank goodness!) thinking it "had to be the bottom" and then it went down another 20%! Thankfully I'd sold my previous house, completely by accident of timing, in 2006 at the very peak of the market, so my gain and loss pretty much washed out and I didn't feel too...

Or let's say you rented a house in Las Vegas metro vice buying it for $315,000 in 2006 which was their median price then. The price dropped by 60% and even today is only worth $296,000. For many years you would be massively underwater, and even today you may just barely be above water when...

So Per se simply means "by itself", meaning without requiring any additional elements. In this case, meaning intent to manipulate is not required, just engaging in the manipulative behavior is enough. Regardless of quibbling over definitions, it's clearly illegal to trade between your own...

Case law is important in the legal wold. Here is an interesting case where a guy did essentially exactly this, crossing orders from two accounts controlled by him (which by the way is completely different from liquidating and rebuying a stock, let's not insult anyone's intelligence and pretend...

What you're proposing is perfectly legal. There's a limit to how much you can exploit the rebate in that case because your money is at risk in the transaction and you have to pay the bid ask spread to enter and exit. That's not what these guys were doing. They were trading an illiquid option...

No, broker 2 neither gives rebates or takes rebates. Since most of their order flow is retail, the guys the orders they don't give the rebates to in general balance out the orders they don't take the rebates from. Until jackasses like these come in and exploit that, like I said they selfishly...

Yeah. They're trying to make it simpler for the customers and normally it would all wash out, but folks like this are the reason we can't have nice stuff.

The exchanges provide the rebate, not the brokerage.

This is exactly what you would do if you wanted to match with a non MM counterparty. Alternately, if you want to get the transaction done at the lowest price with a MM because you want to trade more quickly, you'd want to keep bumping up the price until a MM hits you, which is often a few cents...

I had an 850 score for one month, not through any great effort of mine but my bank sends it to us every month so it was an item of mild curiosity. It gave me bragging rights over my wife, who had a measly 830. Other than that, there's zero difference between that and anything over 700, which...