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gymbo

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  • Yahoo's Cashless Spin-Off Has Strong Business Purposes: Employee Options And Merger Currency [View article]
    However, if there is a vesting period for RSU's, and your performance influences the value of the underlying RSU, isn't one incentivized to perform better?

    Alternatively, if you are granted an RSU in another company (say, a large Chinese company where your performance is irrelevent), then you are less incentivized to perform well. True?
    Jul 31, 2015. 02:34 PM | 1 Like Like |Link to Comment
  • Yahoo's Cashless Spin-Off Has Strong Business Purposes: Employee Options And Merger Currency [View article]
    This is a great article which finally delves into the specific tax laws surrounding the potential YHOO spinoff. Thank you to the author.

    Although the rationale seems to make sense, this should not (and the author makes clear, and as alluded to by Clayton Rulli) be viewed as conclusive. The Service has their own process and viewpoints for these matters. I think that taxing the spinoff would be double taxation (triple if you think about it), but the Service doesn't care about that (that's for Congress & the Pres.).

    ~95% chance of going through? Seems a little high, but I do believe it to be quite likely.

    Is there another tax knowledgeable reader (say a tax attorney) out there that would throw the counter argument in and weigh the odds?
    Jul 31, 2015. 12:08 PM | 1 Like Like |Link to Comment
  • Warren Buffett's Berkshire Hathaway At ½ Price [View article]
    To me, the key to your premise on BIF was your assertion that it was self-liquidating. If one believes that there was a liquidation occurring, then the 20% discount likely outweighed the mgmt fees and deferred tax (though a calculation would be needed).

    It's interesting to me that shareholders don't just propose liquidation through a proxy measure. And yes, I understand that Horejsi will need to be won over.
    Jun 23, 2015. 03:50 PM | Likes Like |Link to Comment
  • Warren Buffett's Berkshire Hathaway At ½ Price [View article]
    40% ST cap gains tax rate or 23.8% LT cap gains rate?
    Jun 23, 2015. 11:21 AM | Likes Like |Link to Comment
  • Warren Buffett's Berkshire Hathaway At ½ Price [View article]
    Thx
    Jun 22, 2015. 02:40 PM | Likes Like |Link to Comment
  • Warren Buffett's Berkshire Hathaway At ½ Price [View article]
    BIF is interesting and raises two questions for me.

    (1) You say that at a 3.36% distribution rate it is self-liquidating. I don't see a set distribution rate here, so it is adjusted year-to-year based on God knows what, but hopefully performance and market conditions. Are you assuming that it is self-liquidating or is it a stated goal? That is important in terms of a strategy to close the NAV gap.

    (2) This looks appealing for a current return retiree that I'm helping as it is composed of generally mature, moderate growth, dividend payers. In this environment, what type of investments would you suggest for such investors?
    Jun 22, 2015. 01:30 PM | 2 Likes Like |Link to Comment
  • Judge rebukes government in AIG case [View news story]
    Just so I'm clear, I was referring to Hayak's view of Creative Destructivism. He's a libertarian economist that predated Friedman and the Cato Institute.
    Jun 15, 2015. 03:47 PM | 1 Like Like |Link to Comment
  • Judge rebukes government in AIG case [View news story]
    Really? It sounds like you are a believer in capitalism. If so, then why didn't AIG reject the feds offer and go it alone? Answer: Because nobody else would bail them out from BK. So I guess the feds were acting like capitalists. And so was AIG. Creative destructivism at work.
    Jun 15, 2015. 12:27 PM | 4 Likes Like |Link to Comment
  • Why I Believe Gramercy Will Continue To Shine [View article]
    Thx for the update article. Once again, very good work. I have a point to emphasize for readers and 2 question of clarity for you, Brad.

    The reverse split by GPT was done for good reasons, not to side step penny stock rules or a sinking ship. They simply wanted to more clearly see the qtrly performance changes in the EPS and to better fine tune (and increase, in retrospect!) the dividend.

    The key to any real estate operation is leverage and the spread of rents to debt. Brad, you emphasized the property returns, but didn't indicate the debt terms (int rate and term of the debt). What are those debt terms and what is the leveraged ROE based on Q1?

    Also, you projected a share price of $29 in 2015. What is your interest rate prognostication? I presume you assume that interest rates will not be increasing much.

    Thank you. Long GPT
    Jun 15, 2015. 12:12 PM | 1 Like Like |Link to Comment
  • GCVRZ Forum [View instapost]
    1 million comments!!!
    May 21, 2015. 08:42 PM | Likes Like |Link to Comment
  • Yahoo's plunge, Alibaba's rise due to potential IRS spinoff rule changes [View news story]
    Jan 2016 $40 calls. I prefer LT in the money calls to get some value.
    May 21, 2015. 06:19 PM | Likes Like |Link to Comment
  • Yahoo's plunge, Alibaba's rise due to potential IRS spinoff rule changes [View news story]
    someone else? That would be the market :)

    Bought more calls yesterday. We'll see how this plays out, but the tax free spinoff doesn't strike me as a show stopper. YHOO could restructure it to get in the IRS box pretty easy IMO.
    May 21, 2015. 04:56 PM | Likes Like |Link to Comment
  • Yahoo's plunge, Alibaba's rise due to potential IRS spinoff rule changes [View news story]
    In response, I have no problem with Buffett or anyone else taking legal steps to minimize their tax bill. In fact, I do it as often as it is available to me.

    I also don't have a moral problem with Yahoo's intention to distribute the Alibaba shares "tax free." More accurately, it's to avoid a double taxation that would otherwise be puzzling to me.

    That being said, the tax code deviated from logic long ago.
    May 20, 2015. 11:43 AM | Likes Like |Link to Comment
  • Yahoo's plunge, Alibaba's rise due to potential IRS spinoff rule changes [View news story]
    Just for the record, BRK certainly has taken advantage of a number of tax strategies in the past few years.
    http://bloom.bg/1GnoaL6
    May 19, 2015. 05:14 PM | 5 Likes Like |Link to Comment
  • How Much Should DIYers DIY? [View article]
    So a dart throwing wife is your investment strategy pearl of wisdom here? lol

    I love that women, the dead, and the ignored outperform me. I'm not at all offended that the fairer sex outdoes me (it's one of many instances). But the other two kinda piss me off. Gotta get focused here because that's just insulting!
    May 19, 2015. 01:41 PM | 2 Likes Like |Link to Comment
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