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That's not how you calculate NAV. You are assuming that the portfolio weight is proportional to the number of shares held by the fund, which is not the case. ETFs are value weighted, not price weighted. (Except DIA which is based on the price-weighted Dow Jones index.) The NAV is the number...

The only entity that makes sense for a trader is pass through (e.g. S corp or LLC). Paying any taxes at the corporate level is probably a mistake. With a pass through entity that has capital gains, you can choose what you want to do with those gains. You can distribute the gains to yourself...

Naturally, capital gains aren't subject to SE taxes. The situation here is using an entity to pay yourself a salary, intentionally converting capital gains to earned income which is eligible for retirement accounts. Unfortunately it's also eligible for SE taxes. Martin

I think the first $15,000 contributed to a mini or solo 401k makes a lot of sense. You can contribute $1 for every $1 of SE income. Tax-free compounding will make up for the SE taxes, as long as you're earning decent investment returns over at least a decade or two. As for "profit sharing,"...

Reminds me of a story my high school chemistry teacher told. I have no idea whether this is true or not. He claimed that he lined up a source of bulk used x-ray film from the local hospital that had a particularly high concentration of silver halide emulsion. He chemically extracted and...

Saw him on the Daily Show. Pantano seemed extraordinarily well spoken and composed. He's a better talker than the vast majority of the guests on that show, including many with careers in entertainment and journalism. Still, something about him seemed false and self promotional to me. I...

Totally. Damn tree huggers made such a big deal about the ozone layer. Getting rid of CFCs crippled the US economy in the 90s. And look where we are now, the ozone hole just keeps getting bigger. Clearly, history shows that we are helpless in the face of our own mistakes. Oh, wait. Martin

Wrong, wrong, wrong. This is all on IB's web site, explained in painfully complete detail. http://www.interactivebrokers.com/en/accounts/fees/interest.php http://www.interactivebrokers.com/en/accounts/fees/interestMethods.php IB pays interest on cash balances over $10k <i>excluding</i>...

Statisticians are nothing but mathematicians broken down by age and sex. Martin

If your broker charges you interest on a short position, get a new broker. Short proceeds are a credit, not a debit. Who charges interest on a credit balance? If you're lucky, your broker will pay you interest on your short proceeds. Probably not much, though. IB pays some interest on short...

Great thread. Missed it earlier. Lots of good wisdom. Great post hapaboy. And btw, congrats sulli. The only thing I have to add is that knowing how to cook is a great way to score with the ladies. It doesn't have to be perfect, and it doesn't have to be fancy. Just don't forget wine and...

Lay and Skilling actively encouraged their employees to put all their retirement money in Enron stock. It was recorded on video tape. You can watch it for yourself. So yes, Ken was in fact the problem. Either he was himself as stupid as you say these Enron employees were, or he was...

You're right, if Enron hadn't hired them, or acquired their employer, those people would never have gotten another paycheck in their life. Lucky for them Kenny-boy lifted their sorry asses out of the gutter and gave them Enron welfare checks out of the kindness of his heart. The least they...

No wonder you're all so bilious. Martin

No, there isn't. Not by any meaningful standard of comparison. Have you ever even <i>been</i> to the third world? I, for one, am happy to see Gates using his money where it can do the most good for the people who need it most. Martin

WTF are you talking about TGregg? You've gone off the deep end. Martin

<i>They pointed out that our galaxy probably contains a whole lot more than a few hundred Earth oceans. Multiplying the age of the Milky Way times many billions of possible planets � and comets too � they readily conceded that random chance could make successful cells, eventually, on...

<i>Bush, Rush, Ann...liberals seem to have a deep-seated need to have someone to hate.</i> That's true, liberals do have a monopoly on hate. Ann Coulter and Rush Limbaugh don't hate anyone. They're always all turn-the-other-cheek, they'd never be the first to cast stones. They love fags...

Yes, you have confused my model with someone else's. Martin

I made a top line estimate based on the information given. If you want to come up with a discounted present value model including property and income tax rates, association fees, insurance, transaction fees, and the like, be my guest. I've been there, and I believe the main product of such an...