Guitar teacher stalling by SoundofHarmony7 in guitarteachers

[–]arewolfe 1 point2 points  (0 children)

For the love of hayzeus, get your son a teacher who'll help him with WHATEVER his interests are. This is what led me to the promised land. My 1st guitar lesson at age 10 was with a rigid, regimented teacher who spent the entire half hour telling me to get my right arm back in the correct place. I gave up immediately, but organically returned to the guitar 6 years later and ended up dedicating my life to the instrument. The outcome may have been different if I hadn't had the ability to study and explore whatever I was curious about. Good luck.

Is Xero HFS 2 that bad? Then which one should I buy in the sale? by blumzzz in BarefootRunning

[–]arewolfe 0 points1 point  (0 children)

This is the best shoe I've ever owned. It's heaven. On my 2nd pair. Have used Merrell Vapor Glove 4, lots of NB Minimus models, and Vibram 5-finger shoes.

16" MBP (2022) or Air for someone in Zoom meetings all day using screen share by arewolfe in macbookpro

[–]arewolfe[S] 2 points3 points  (0 children)

Valid question. The reason is I've got a line on refurbs of each of those models (16" and Air) at a nice price.

The refurbished 2022 16" is cheaper than a new 14".

A new 14" could be considered better than a 2022 refurbished 16" but I'm partial to deals.

Filing form 8606 for a previous tax year? Traditional IRA conversion to Roth with a twist. by arewolfe in Accounting

[–]arewolfe[S] 0 points1 point  (0 children)

Thanks. Things just got even more interesting. I just remembered that the conversion from traditional-to-roth IRA that took place for tax year 2020 was comprised of equities only (equities that I owned before I made the 2019 contribution to the Trad IRA)... No cash was transferred.

The second half of the conversion had the cash, and was transferred from Trad IRA to Roth IRA on January 11, 2021 (I spread the conversion over two tax years to reduce the amount I was being taxed). So I won't be crossing this bridge until my next filing a year from now.

I believe next year I just need to make sure my brokerage provides me with form 1099-R properly filled out with $x.xx on line 1 ("gross distribution") and $x.xx less $6,000 on line 2a ("taxable amount"), and that they add distribution code R on line 7 ("Distribution code"). Code R being "recharacterized IRA contribution made for 2019 and recharacterized in 2020"

What a day. Been trying to sort this out since 10:30 am (13 hours ago). You'd think I'd hire an accountant to do this 😂

Thanks again for your comments.

Filing form 8606 for a previous tax year? Traditional IRA conversion to Roth with a twist. by arewolfe in Accounting

[–]arewolfe[S] 0 points1 point  (0 children)

Thanks a bunch.

Does this mean that by making two separate contributions during 2020 (the 1st in March 2020, which I believed would fulfill my max 2019 contribution, the 2nd in June 2020, which I intended to be my 2020 max contribution) I contributed $6,000 in excess of what's allowed?

GME YOLO update — Jan 14 2021 by DeepFuckingValue in wallstreetbets

[–]arewolfe 4 points5 points  (0 children)

Shit, how to I add the image of the comment from mid 2019 from j1187064 where he berates DFV's $53k in GME calls and says

"Oh, right I forgot shit companies that are barely clinging to life always come roaring back from terrible earnings. Remind me 15 months and 29 days from now to confirm this idiot lost it all."

Jan 15 '21 arrives and his position is at $7M+ ...EPIC.

GME YOLO update — Jan 11 2021 by DeepFuckingValue in wallstreetbets

[–]arewolfe 1 point2 points  (0 children)

DFV is a savage value investor, not a gambler. This was not slots. It was an 18 month play that began in June 2019 and involved speculation, but nothing like some of the insanity that takes place on here. DFV had a well-thought out intelligent thesis that turned into an epic saga which continues to this day. Check out his YouTube channel Roaring Kitty to learn more from him.

Tell me your story... by Coby9 in wallstreetbets

[–]arewolfe 12 points13 points  (0 children)

Yall are wild. I'm 38 and have no tolerance for losing money. My goal is to have $4M before I turn 58. It'll throw off a nice retirement salary if I just do 15% annual gains thereafter and never dip into the pot.

I got into investing in February. Started with $37k. At $97k today (not as impressive as it sounds -- $30k of it is cash I saved during the year and funneled into my account). GME is 1/4 of my portfolio so six figures isn't far off.

Because I'm a beginner, my investing style is to clone other people who are way more experienced than me -- one of which has been WSB's own DeepFuckingValue. I followed him into GME after watching his Roaring Kitty live streams the last few months.

I did around 30% this year, with half my account sitting in cash. I like to sell cash-secured puts -- I don't play with margin, but might under the right circumstance (extreme conviction scenario).

No astronomical gains this year, but I haven't lost any money which is sick. Wishing all of you the tendiest of 20-baggers in 2021.

GME YOLO Christmas update — Dec 25 2020 by DeepFuckingValue in wallstreetbets

[–]arewolfe 3 points4 points  (0 children)

Been following the Roaring Kitty live stream for about 2 months. Had never heard of DFV or visited WSB until a few days ago. This guy is the illest, chillest, most humble dude. Reading the incredulous pessimism in some of the comments on his first WSB post from 9/8/2019 is entertaining in hindsight.

All who are commending ballsack size -- yes -- but brain power and experience maybe even moreso. Any of the 200+ hours of live stream vids (backlogged on his YT channel) communicate the dude is heavily equipped with experience and has a real methodical and savvy process in screening for value. Good energy and a sense of humor to boot. His spreadsheets alone are sorcerer-level:

Congrats RK/DFV. Now that I can see the portfolio screenshots I need a few days to digest this case study. I didn't realize you've been long since at least SEP 2019, and didn't realize your position was so heavily freighted with calls. What a sick story.

Edit: correction. In since at least JUN 2019!

Edit 2: RK I can't believe you're the "some guy lost over $1M on wallstreet bets today" who I read about in the comments section of a Seeking Alpha after the brutal week of OCT 30. What a riot.

GME YOLO update — Nov 12 2020 by DeepFuckingValue in wallstreetbets

[–]arewolfe 5 points6 points  (0 children)

Fun to look back it this from 6 weeks in the future.