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After series of investment mistakes, I am sitting on considerable amount cash and short positions. I wanted to balance my "investments" which were high on stocks due to stock grants and years of accumulated stocks in my 401Ks and took short positions and cash. While fishing for bottom, I got stuck with them in my hand. I am dumbfounded with the recent rally, mostly driven by tech again. I don't get it; it seems like hysteria to me where people are paying huge multiples. One can claim that the recent rally is due to AI and other than tech stocks, stock market is relatively cheap. That is kind of true as non tech stocks are more reasonably priced. Another problem I am facing due to my investment mistakes, I am also not tax efficient as I put dividend/interest bearing investments in tax bearing accounts. Some questions I am looking for help with: 1. I am looking for a professional help on balancing my portfolio, at least making it tax efficient. Fidelity used to give 1 hour free consulting but I felt like they were teasers to sell products. Did anyone have recommendation on how get affordable financial consultation without paying too much fees? Perhaps via fixed hourly payment or through company benefits? 2. I am planning to move index funds from my retirement accounts to non-tax efficient accounts. I have enough losses to offset capital gains thanks to my bad investments (shorts) and I don't need to sell them in near future. I think I am making huge mistake by keeping interest and dividend bearing investments in regular brokerage account where I incur tax charges immediately. Anything am I missing here? 3. I am still hoping a pull back on the stocks. 5+% interest rate is going to stall some part of the economy. If not US companies, US government will choke on it debt load, triggering tax increases, Obviously, market doesn't think that way but what do you think?
look up midterm miracle.
1. I’ve never used them, but Xynetwork has hourly FAs. I’ve been thinking about picking one and calling them up to see how they are. Fidelity has some good advisors for free , in my experience I let him know early on I don’t want to buy into more service fees and am looking to reduce them and he doesn’t recommend this to me anymore 2. It’s not a huge mistake but they would do better in Roth, however this probably isn’t your biggest problem at the moment 3. I’d say stop trying to time and DCA in since you’re already left holding the bag on the sidelines. Stop waiting for the ball to drop again and start getting back in the game.
Thanks 1. I will check Xynetwork and also give another try to Fidelity. 3.. I do my full pre-tax and after-Tax contribution and that's my limited DCA but I cannot get myself buying S&P 500 index with these valuations. Bought some FENY, FNCL last month but still holding a huge bag, I agree.