Bitcoin Has Crashed—Now What? - Forbes

Today's Pre-Market News [Wednesday, February 12th, 2020]

Good morning traders and investors of the wallstreetbets sub! Welcome to Wednesday. Here is your pre-market news this AM-

Today's Top Headlines for Wednesday, February 12th, 2020

STOCK FUTURES CURRENTLY:

(CLICK HERE FOR STOCK FUTURES CHARTS!)

YESTERDAY'S MARKET MAP:

(CLICK HERE FOR YESTERDAY'S MARKET MAP!)

TODAY'S MARKET MAP:

(CLICK HERE FOR TODAY'S MARKET MAP!)

YESTERDAY'S S&P SECTORS:

(CLICK HERE FOR YESTERDAY'S S&P SECTORS CHART!)

TODAY'S S&P SECTORS:

(CLICK HERE FOR TODAY'S S&P SECTORS CHART!)

TODAY'S ECONOMIC CALENDAR:

(CLICK HERE FOR TODAY'S ECONOMIC CALENDAR!)

THIS WEEK'S ECONOMIC CALENDAR:

(CLICK HERE FOR THIS WEEK'S ECONOMIC CALENDAR!)

THIS WEEK'S UPCOMING IPO'S:

(CLICK HERE FOR THIS WEEK'S UPCOMING IPO'S!)

THIS WEEK'S EARNINGS CALENDAR:

(CLICK HERE FOR THIS WEEK'S EARNINGS CALENDAR!)

THIS MORNING'S PRE-MARKET EARNINGS CALENDAR:

(CLICK HERE FOR THIS MORNING'S EARNINGS CALENDAR!)

EARNINGS RELEASES BEFORE THE OPEN TODAY:

(CLICK HERE FOR THIS MORNING'S EARNINGS RELEASES!)

EARNINGS RELEASES AFTER THE CLOSE TODAY:

(CLICK HERE FOR THIS AFTERNOON'S EARNINGS RELEASES LINK #1!)
(CLICK HERE FOR THIS AFTERNOON'S EARNINGS RELEASES LINK #2!)

YESTERDAY'S ANALYST UPGRADES/DOWNGRADES:

(CLICK HERE FOR YESTERDAY'S ANALYST UPGRADES/DOWNGRADES LINK #1!)
(CLICK HERE FOR YESTERDAY'S ANALYST UPGRADES/DOWNGRADES LINK #2!)
(CLICK HERE FOR YESTERDAY'S ANALYST UPGRADES/DOWNGRADES LINK #3!)

YESTERDAY'S INSIDER TRADING FILINGS:

(CLICK HERE FOR YESTERDAY'S INSIDER TRADING FILINGS!)

TODAY'S DIVIDEND CALENDAR:

([CLICK HERE FOR TODAY'S DIVIDEND CALENDAR LINK #1!](https://i.imgur.com/ifUy0wj.png)
(CLICK HERE FOR TODAY'S DIVIDEND CALENDAR LINK #2!)

THIS MORNING'S MOST ACTIVE TRENDING TICKERS:

  • SHOP
  • TEVA
  • CVS
  • LYFT
  • ROKU
  • BBBY
  • MRNA
  • CYBR

THIS MORNING'S STOCK NEWS MOVERS:

(source: cnbc.com)
CVS Health (CVS) – The drug store operator beat estimates by 5 cents a share, with quarterly earnings of $1.73 per share. Revenue also beat forecasts and CVS gave a full-year EPS outlook of $7.04 to $7.17, compared to a consensus estimate of $7.15 a share.

STOCK SYMBOL: CVS

(CLICK HERE FOR LIVE STOCK QUOTE!)
Molson Coors (TAP) – The beer brewer earned $1.02 per share for the fourth quarter, well above the 78 cents a share consensus estimate. Revenue also beat Wall Street projections, despite what Molson Coors calls “significant headwinds and continued volume declines.”

STOCK SYMBOL: TAP

(CLICK HERE FOR LIVE STOCK QUOTE!)
Teva Pharmaceutical (TEVA) – The world’s largest generic drugmaker beat estimates by a penny a share, with quarterly profit of 62 cents per share. Revenue also topped expectations.

STOCK SYMBOL: TEVA

(CLICK HERE FOR LIVE STOCK QUOTE!)
Moody’s (MCO) – The credit-rating agency earned $2.00 per share for the fourth quarter, 7 cents a share above estimates. Revenue also came in above analysts’ forecasts. The company’s full-year outlook for 2020 is also largely above consensus. Moody’s said it is benefiting from increased global bond issuance, as well as increasing demand for research from its Moody’s Analytics unit.

STOCK SYMBOL: MCO

(CLICK HERE FOR LIVE STOCK QUOTE!)
Shopify (SHOP) – The e-commerce platform company earned an adjusted 43 cents per share for its latest quarter, compared to a consensus estimate of 24 cents a share. Revenue also beat forecasts on strong Black Friday and Cyber Monday sales on Shopify’s platform.

STOCK SYMBOL: SHOP

(CLICK HERE FOR LIVE STOCK QUOTE!)
CyberArk Software (CYBR) – The cybersecurity company beat estimates by 16 cents A share, with quarterly earnings of 97 cents per share. Revenue also came in above consensus. CyberArk said, however, that its full-year adjusted EPS outlook is $2.26-$2.38, below the consensus estimate of $2.79 a share.

STOCK SYMBOL: CYBR

(CLICK HERE FOR LIVE STOCK QUOTE!)
Lyft (LYFT) – Lyft lost $1.19 per share for the fourth quarter, 20 cents a share less than Wall Street had been expecting. The ride-hailing service’s revenue beat consensus estimates. Lyft also said it is still on track to achieve a key measure of profitability by the end of 2021.

STOCK SYMBOL: LYFT

(CLICK HERE FOR LIVE STOCK QUOTE!)
Bed Bath & Beyond (BBBY) – The housewares retailer said same-store sales were down a greater-than-expected 5.4% in December and January, amid increased promotional pricing, lower store traffic, and issues with inventory management.

STOCK SYMBOL: BBBY

(CLICK HERE FOR LIVE STOCK QUOTE!)
Akamai Technologies (AKAM) – Akamai reported adjusted quarterly earnings of $1.23 per share, 10 cents a share above estimates. Akamai’s ’s revenue also beat Street forecasts. Results were driven by strong growth in its cloud security unit, as well as upbeat results for its flagship content delivery platform business.

STOCK SYMBOL: AKAM

(CLICK HERE FOR LIVE STOCK QUOTE!)
Alphabet (GOOGL) – Alphabet’s Google unit will be in court today, seeking to overturn one of three record European Union antitrust fines. Google had been fined $2.6 billion for allegedly favoring its own price comparison shopping service over those of smaller European competitors.

STOCK SYMBOL: GOOGL

(CLICK HERE FOR LIVE STOCK QUOTE!)
NCR (NCR) – NCR beat estimates by a penny a share, with quarterly profit of 85 cents per share. The payment processing software and services provider’s revenue was also above Street forecasts.

STOCK SYMBOL: NCR

(CLICK HERE FOR LIVE STOCK QUOTE!)
Western Union (WU) – Western Union reported quarterly earnings of 38 cents per share, 5 cents a share below estimates. The payment processing company’s revenue also beat forecasts, and Western Union gave an upbeat outlook for 2020. The company announced a 13% increase in its quarterly dividend as well.

STOCK SYMBOL: WU

(CLICK HERE FOR LIVE STOCK QUOTE!)
Macerich (MAC) – Macerich was downgraded to “underweight” from “neutral” at Piper Sandler, which thinks Simon Property’s (SPG) acquisition of Taubman Centers (TCO) makes an acquisition of the shopping center operator less likely.

STOCK SYMBOL: MAC

(CLICK HERE FOR LIVE STOCK QUOTE!)

DISCUSS!

What's on everyone's radar for today's trading day ahead here at wallstreetbets?

I hope you all have an excellent trading day ahead today on this Wednesday, February 12th, 2020! :)

submitted by bigbear0083 to wallstreetbets [link] [comments]

Today's Pre-Market News [Wednesday, February 12th, 2020]

Good morning traders and investors of the stocks sub! Welcome to Wednesday. Here is your pre-market news this AM-

Today's Top Headlines for Wednesday, February 12th, 2020

STOCK FUTURES CURRENTLY:

(CLICK HERE FOR STOCK FUTURES CHARTS!)

YESTERDAY'S MARKET MAP:

(CLICK HERE FOR YESTERDAY'S MARKET MAP!)

TODAY'S MARKET MAP:

(CLICK HERE FOR TODAY'S MARKET MAP!)

YESTERDAY'S S&P SECTORS:

(CLICK HERE FOR YESTERDAY'S S&P SECTORS CHART!)

TODAY'S S&P SECTORS:

(CLICK HERE FOR TODAY'S S&P SECTORS CHART!)

TODAY'S ECONOMIC CALENDAR:

(CLICK HERE FOR TODAY'S ECONOMIC CALENDAR!)

THIS WEEK'S ECONOMIC CALENDAR:

(CLICK HERE FOR THIS WEEK'S ECONOMIC CALENDAR!)

THIS WEEK'S UPCOMING IPO'S:

(CLICK HERE FOR THIS WEEK'S UPCOMING IPO'S!)

THIS WEEK'S EARNINGS CALENDAR:

(CLICK HERE FOR THIS WEEK'S EARNINGS CALENDAR!)

THIS MORNING'S PRE-MARKET EARNINGS CALENDAR:

(CLICK HERE FOR THIS MORNING'S EARNINGS CALENDAR!)

EARNINGS RELEASES BEFORE THE OPEN TODAY:

(CLICK HERE FOR THIS MORNING'S EARNINGS RELEASES!)

EARNINGS RELEASES AFTER THE CLOSE TODAY:

(CLICK HERE FOR THIS AFTERNOON'S EARNINGS RELEASES LINK #1!)
(CLICK HERE FOR THIS AFTERNOON'S EARNINGS RELEASES LINK #2!)

YESTERDAY'S ANALYST UPGRADES/DOWNGRADES:

(CLICK HERE FOR YESTERDAY'S ANALYST UPGRADES/DOWNGRADES LINK #1!)
(CLICK HERE FOR YESTERDAY'S ANALYST UPGRADES/DOWNGRADES LINK #2!)
(CLICK HERE FOR YESTERDAY'S ANALYST UPGRADES/DOWNGRADES LINK #3!)

YESTERDAY'S INSIDER TRADING FILINGS:

(CLICK HERE FOR YESTERDAY'S INSIDER TRADING FILINGS!)

TODAY'S DIVIDEND CALENDAR:

([CLICK HERE FOR TODAY'S DIVIDEND CALENDAR LINK #1!](https://i.imgur.com/ifUy0wj.png)
(CLICK HERE FOR TODAY'S DIVIDEND CALENDAR LINK #2!)

THIS MORNING'S MOST ACTIVE TRENDING TICKERS:

  • SHOP
  • TEVA
  • CVS
  • LYFT
  • ROKU
  • BBBY
  • MRNA
  • CYBR

THIS MORNING'S STOCK NEWS MOVERS:

(source: cnbc.com)
CVS Health (CVS) – The drug store operator beat estimates by 5 cents a share, with quarterly earnings of $1.73 per share. Revenue also beat forecasts and CVS gave a full-year EPS outlook of $7.04 to $7.17, compared to a consensus estimate of $7.15 a share.

STOCK SYMBOL: CVS

(CLICK HERE FOR LIVE STOCK QUOTE!)
Molson Coors (TAP) – The beer brewer earned $1.02 per share for the fourth quarter, well above the 78 cents a share consensus estimate. Revenue also beat Wall Street projections, despite what Molson Coors calls “significant headwinds and continued volume declines.”

STOCK SYMBOL: TAP

(CLICK HERE FOR LIVE STOCK QUOTE!)
Teva Pharmaceutical (TEVA) – The world’s largest generic drugmaker beat estimates by a penny a share, with quarterly profit of 62 cents per share. Revenue also topped expectations.

STOCK SYMBOL: TEVA

(CLICK HERE FOR LIVE STOCK QUOTE!)
Moody’s (MCO) – The credit-rating agency earned $2.00 per share for the fourth quarter, 7 cents a share above estimates. Revenue also came in above analysts’ forecasts. The company’s full-year outlook for 2020 is also largely above consensus. Moody’s said it is benefiting from increased global bond issuance, as well as increasing demand for research from its Moody’s Analytics unit.

STOCK SYMBOL: MCO

(CLICK HERE FOR LIVE STOCK QUOTE!)
Shopify (SHOP) – The e-commerce platform company earned an adjusted 43 cents per share for its latest quarter, compared to a consensus estimate of 24 cents a share. Revenue also beat forecasts on strong Black Friday and Cyber Monday sales on Shopify’s platform.

STOCK SYMBOL: SHOP

(CLICK HERE FOR LIVE STOCK QUOTE!)
CyberArk Software (CYBR) – The cybersecurity company beat estimates by 16 cents A share, with quarterly earnings of 97 cents per share. Revenue also came in above consensus. CyberArk said, however, that its full-year adjusted EPS outlook is $2.26-$2.38, below the consensus estimate of $2.79 a share.

STOCK SYMBOL: CYBR

(CLICK HERE FOR LIVE STOCK QUOTE!)
Lyft (LYFT) – Lyft lost $1.19 per share for the fourth quarter, 20 cents a share less than Wall Street had been expecting. The ride-hailing service’s revenue beat consensus estimates. Lyft also said it is still on track to achieve a key measure of profitability by the end of 2021.

STOCK SYMBOL: LYFT

(CLICK HERE FOR LIVE STOCK QUOTE!)
Bed Bath & Beyond (BBBY) – The housewares retailer said same-store sales were down a greater-than-expected 5.4% in December and January, amid increased promotional pricing, lower store traffic, and issues with inventory management.

STOCK SYMBOL: BBBY

(CLICK HERE FOR LIVE STOCK QUOTE!)
Akamai Technologies (AKAM) – Akamai reported adjusted quarterly earnings of $1.23 per share, 10 cents a share above estimates. Akamai’s ’s revenue also beat Street forecasts. Results were driven by strong growth in its cloud security unit, as well as upbeat results for its flagship content delivery platform business.

STOCK SYMBOL: AKAM

(CLICK HERE FOR LIVE STOCK QUOTE!)
Alphabet (GOOGL) – Alphabet’s Google unit will be in court today, seeking to overturn one of three record European Union antitrust fines. Google had been fined $2.6 billion for allegedly favoring its own price comparison shopping service over those of smaller European competitors.

STOCK SYMBOL: GOOGL

(CLICK HERE FOR LIVE STOCK QUOTE!)
NCR (NCR) – NCR beat estimates by a penny a share, with quarterly profit of 85 cents per share. The payment processing software and services provider’s revenue was also above Street forecasts.

STOCK SYMBOL: NCR

(CLICK HERE FOR LIVE STOCK QUOTE!)
Western Union (WU) – Western Union reported quarterly earnings of 38 cents per share, 5 cents a share below estimates. The payment processing company’s revenue also beat forecasts, and Western Union gave an upbeat outlook for 2020. The company announced a 13% increase in its quarterly dividend as well.

STOCK SYMBOL: WU

(CLICK HERE FOR LIVE STOCK QUOTE!)
Macerich (MAC) – Macerich was downgraded to “underweight” from “neutral” at Piper Sandler, which thinks Simon Property’s (SPG) acquisition of Taubman Centers (TCO) makes an acquisition of the shopping center operator less likely.

STOCK SYMBOL: MAC

(CLICK HERE FOR LIVE STOCK QUOTE!)

DISCUSS!

What's on everyone's radar for today's trading day ahead here at stocks?

I hope you all have an excellent trading day ahead today on this Wednesday, February 12th, 2020! :)

submitted by bigbear0083 to stocks [link] [comments]

Today's Pre-Market News [Wednesday, February 12th, 2020]

Good morning traders and investors of the StockMarket sub! Welcome to Wednesday. Here is your pre-market news this AM-

(CLICK HERE TO VIEW THE FULL SOURCE!)

Today's Top Headlines for Wednesday, February 12th, 2020

STOCK FUTURES CURRENTLY:

(CLICK HERE FOR STOCK FUTURES CHARTS!)

YESTERDAY'S MARKET MAP:

(CLICK HERE FOR YESTERDAY'S MARKET MAP!)

TODAY'S MARKET MAP:

(CLICK HERE FOR TODAY'S MARKET MAP!)

YESTERDAY'S S&P SECTORS:

(CLICK HERE FOR YESTERDAY'S S&P SECTORS CHART!)

TODAY'S S&P SECTORS:

(CLICK HERE FOR TODAY'S S&P SECTORS CHART!)

TODAY'S ECONOMIC CALENDAR:

(CLICK HERE FOR TODAY'S ECONOMIC CALENDAR!)

THIS WEEK'S ECONOMIC CALENDAR:

(CLICK HERE FOR THIS WEEK'S ECONOMIC CALENDAR!)

THIS WEEK'S UPCOMING IPO'S:

(CLICK HERE FOR THIS WEEK'S UPCOMING IPO'S!)

THIS WEEK'S EARNINGS CALENDAR:

(CLICK HERE FOR THIS WEEK'S EARNINGS CALENDAR!)

THIS MORNING'S PRE-MARKET EARNINGS CALENDAR:

(CLICK HERE FOR THIS MORNING'S EARNINGS CALENDAR!)

EARNINGS RELEASES BEFORE THE OPEN TODAY:

(CLICK HERE FOR THIS MORNING'S EARNINGS RELEASES!)

EARNINGS RELEASES AFTER THE CLOSE TODAY:

(CLICK HERE FOR THIS AFTERNOON'S EARNINGS RELEASES LINK #1!)
(CLICK HERE FOR THIS AFTERNOON'S EARNINGS RELEASES LINK #2!)

YESTERDAY'S ANALYST UPGRADES/DOWNGRADES:

(CLICK HERE FOR YESTERDAY'S ANALYST UPGRADES/DOWNGRADES LINK #1!)
(CLICK HERE FOR YESTERDAY'S ANALYST UPGRADES/DOWNGRADES LINK #2!)
(CLICK HERE FOR YESTERDAY'S ANALYST UPGRADES/DOWNGRADES LINK #3!)

YESTERDAY'S INSIDER TRADING FILINGS:

(CLICK HERE FOR YESTERDAY'S INSIDER TRADING FILINGS!)

TODAY'S DIVIDEND CALENDAR:

([CLICK HERE FOR TODAY'S DIVIDEND CALENDAR LINK #1!](https://i.imgur.com/ifUy0wj.png)
(CLICK HERE FOR TODAY'S DIVIDEND CALENDAR LINK #2!)

THIS MORNING'S MOST ACTIVE TRENDING TICKERS:

  • SHOP
  • TEVA
  • CVS
  • LYFT
  • ROKU
  • BBBY
  • MRNA
  • CYBR

THIS MORNING'S STOCK NEWS MOVERS:

(source: cnbc.com)
CVS Health (CVS) – The drug store operator beat estimates by 5 cents a share, with quarterly earnings of $1.73 per share. Revenue also beat forecasts and CVS gave a full-year EPS outlook of $7.04 to $7.17, compared to a consensus estimate of $7.15 a share.

STOCK SYMBOL: CVS

(CLICK HERE FOR LIVE STOCK QUOTE!)
Molson Coors (TAP) – The beer brewer earned $1.02 per share for the fourth quarter, well above the 78 cents a share consensus estimate. Revenue also beat Wall Street projections, despite what Molson Coors calls “significant headwinds and continued volume declines.”

STOCK SYMBOL: TAP

(CLICK HERE FOR LIVE STOCK QUOTE!)
Teva Pharmaceutical (TEVA) – The world’s largest generic drugmaker beat estimates by a penny a share, with quarterly profit of 62 cents per share. Revenue also topped expectations.

STOCK SYMBOL: TEVA

(CLICK HERE FOR LIVE STOCK QUOTE!)
Moody’s (MCO) – The credit-rating agency earned $2.00 per share for the fourth quarter, 7 cents a share above estimates. Revenue also came in above analysts’ forecasts. The company’s full-year outlook for 2020 is also largely above consensus. Moody’s said it is benefiting from increased global bond issuance, as well as increasing demand for research from its Moody’s Analytics unit.

STOCK SYMBOL: MCO

(CLICK HERE FOR LIVE STOCK QUOTE!)
Shopify (SHOP) – The e-commerce platform company earned an adjusted 43 cents per share for its latest quarter, compared to a consensus estimate of 24 cents a share. Revenue also beat forecasts on strong Black Friday and Cyber Monday sales on Shopify’s platform.

STOCK SYMBOL: SHOP

(CLICK HERE FOR LIVE STOCK QUOTE!)
CyberArk Software (CYBR) – The cybersecurity company beat estimates by 16 cents A share, with quarterly earnings of 97 cents per share. Revenue also came in above consensus. CyberArk said, however, that its full-year adjusted EPS outlook is $2.26-$2.38, below the consensus estimate of $2.79 a share.

STOCK SYMBOL: CYBR

(CLICK HERE FOR LIVE STOCK QUOTE!)
Lyft (LYFT) – Lyft lost $1.19 per share for the fourth quarter, 20 cents a share less than Wall Street had been expecting. The ride-hailing service’s revenue beat consensus estimates. Lyft also said it is still on track to achieve a key measure of profitability by the end of 2021.

STOCK SYMBOL: LYFT

(CLICK HERE FOR LIVE STOCK QUOTE!)
Bed Bath & Beyond (BBBY) – The housewares retailer said same-store sales were down a greater-than-expected 5.4% in December and January, amid increased promotional pricing, lower store traffic, and issues with inventory management.

STOCK SYMBOL: BBBY

(CLICK HERE FOR LIVE STOCK QUOTE!)
Akamai Technologies (AKAM) – Akamai reported adjusted quarterly earnings of $1.23 per share, 10 cents a share above estimates. Akamai’s ’s revenue also beat Street forecasts. Results were driven by strong growth in its cloud security unit, as well as upbeat results for its flagship content delivery platform business.

STOCK SYMBOL: AKAM

(CLICK HERE FOR LIVE STOCK QUOTE!)
Alphabet (GOOGL) – Alphabet’s Google unit will be in court today, seeking to overturn one of three record European Union antitrust fines. Google had been fined $2.6 billion for allegedly favoring its own price comparison shopping service over those of smaller European competitors.

STOCK SYMBOL: GOOGL

(CLICK HERE FOR LIVE STOCK QUOTE!)
NCR (NCR) – NCR beat estimates by a penny a share, with quarterly profit of 85 cents per share. The payment processing software and services provider’s revenue was also above Street forecasts.

STOCK SYMBOL: NCR

(CLICK HERE FOR LIVE STOCK QUOTE!)
Western Union (WU) – Western Union reported quarterly earnings of 38 cents per share, 5 cents a share below estimates. The payment processing company’s revenue also beat forecasts, and Western Union gave an upbeat outlook for 2020. The company announced a 13% increase in its quarterly dividend as well.

STOCK SYMBOL: WU

(CLICK HERE FOR LIVE STOCK QUOTE!)
Macerich (MAC) – Macerich was downgraded to “underweight” from “neutral” at Piper Sandler, which thinks Simon Property’s (SPG) acquisition of Taubman Centers (TCO) makes an acquisition of the shopping center operator less likely.

STOCK SYMBOL: MAC

(CLICK HERE FOR LIVE STOCK QUOTE!)

FULL DISCLOSURE:

bigbear0083 has no positions in any stocks mentioned. Reddit, moderators, and the author do not advise making investment decisions based on discussion in these posts. Analysis is not subject to validation and users take action at their own risk. bigbear0083 is an admin at the financial forums Stockaholics.net where this content was originally posted.

DISCUSS!

What's on everyone's radar for today's trading day ahead here at StockMarket?

I hope you all have an excellent trading day ahead today on this Wednesday, February 12th, 2020! :)

submitted by bigbear0083 to StockMarket [link] [comments]

Today's Pre-Market News [Wednesday, February 12th, 2020]

Good morning traders and investors of the smallstreetbets sub! Welcome to Wednesday. Here is your pre-market news this AM-

Today's Top Headlines for Wednesday, February 12th, 2020

STOCK FUTURES CURRENTLY:

(CLICK HERE FOR STOCK FUTURES CHARTS!)

YESTERDAY'S MARKET MAP:

(CLICK HERE FOR YESTERDAY'S MARKET MAP!)

TODAY'S MARKET MAP:

(CLICK HERE FOR TODAY'S MARKET MAP!)

YESTERDAY'S S&P SECTORS:

(CLICK HERE FOR YESTERDAY'S S&P SECTORS CHART!)

TODAY'S S&P SECTORS:

(CLICK HERE FOR TODAY'S S&P SECTORS CHART!)

TODAY'S ECONOMIC CALENDAR:

(CLICK HERE FOR TODAY'S ECONOMIC CALENDAR!)

THIS WEEK'S ECONOMIC CALENDAR:

(CLICK HERE FOR THIS WEEK'S ECONOMIC CALENDAR!)

THIS WEEK'S UPCOMING IPO'S:

(CLICK HERE FOR THIS WEEK'S UPCOMING IPO'S!)

THIS WEEK'S EARNINGS CALENDAR:

(CLICK HERE FOR THIS WEEK'S EARNINGS CALENDAR!)

THIS MORNING'S PRE-MARKET EARNINGS CALENDAR:

(CLICK HERE FOR THIS MORNING'S EARNINGS CALENDAR!)

EARNINGS RELEASES BEFORE THE OPEN TODAY:

(CLICK HERE FOR THIS MORNING'S EARNINGS RELEASES!)

EARNINGS RELEASES AFTER THE CLOSE TODAY:

(CLICK HERE FOR THIS AFTERNOON'S EARNINGS RELEASES LINK #1!)
(CLICK HERE FOR THIS AFTERNOON'S EARNINGS RELEASES LINK #2!)

YESTERDAY'S ANALYST UPGRADES/DOWNGRADES:

(CLICK HERE FOR YESTERDAY'S ANALYST UPGRADES/DOWNGRADES LINK #1!)
(CLICK HERE FOR YESTERDAY'S ANALYST UPGRADES/DOWNGRADES LINK #2!)
(CLICK HERE FOR YESTERDAY'S ANALYST UPGRADES/DOWNGRADES LINK #3!)

YESTERDAY'S INSIDER TRADING FILINGS:

(CLICK HERE FOR YESTERDAY'S INSIDER TRADING FILINGS!)

TODAY'S DIVIDEND CALENDAR:

([CLICK HERE FOR TODAY'S DIVIDEND CALENDAR LINK #1!](https://i.imgur.com/ifUy0wj.png)
(CLICK HERE FOR TODAY'S DIVIDEND CALENDAR LINK #2!)

THIS MORNING'S MOST ACTIVE TRENDING TICKERS:

  • SHOP
  • TEVA
  • CVS
  • LYFT
  • ROKU
  • BBBY
  • MRNA
  • CYBR

THIS MORNING'S STOCK NEWS MOVERS:

(source: cnbc.com)
CVS Health (CVS) – The drug store operator beat estimates by 5 cents a share, with quarterly earnings of $1.73 per share. Revenue also beat forecasts and CVS gave a full-year EPS outlook of $7.04 to $7.17, compared to a consensus estimate of $7.15 a share.

STOCK SYMBOL: CVS

(CLICK HERE FOR LIVE STOCK QUOTE!)
Molson Coors (TAP) – The beer brewer earned $1.02 per share for the fourth quarter, well above the 78 cents a share consensus estimate. Revenue also beat Wall Street projections, despite what Molson Coors calls “significant headwinds and continued volume declines.”

STOCK SYMBOL: TAP

(CLICK HERE FOR LIVE STOCK QUOTE!)
Teva Pharmaceutical (TEVA) – The world’s largest generic drugmaker beat estimates by a penny a share, with quarterly profit of 62 cents per share. Revenue also topped expectations.

STOCK SYMBOL: TEVA

(CLICK HERE FOR LIVE STOCK QUOTE!)
Moody’s (MCO) – The credit-rating agency earned $2.00 per share for the fourth quarter, 7 cents a share above estimates. Revenue also came in above analysts’ forecasts. The company’s full-year outlook for 2020 is also largely above consensus. Moody’s said it is benefiting from increased global bond issuance, as well as increasing demand for research from its Moody’s Analytics unit.

STOCK SYMBOL: MCO

(CLICK HERE FOR LIVE STOCK QUOTE!)
Shopify (SHOP) – The e-commerce platform company earned an adjusted 43 cents per share for its latest quarter, compared to a consensus estimate of 24 cents a share. Revenue also beat forecasts on strong Black Friday and Cyber Monday sales on Shopify’s platform.

STOCK SYMBOL: SHOP

(CLICK HERE FOR LIVE STOCK QUOTE!)
CyberArk Software (CYBR) – The cybersecurity company beat estimates by 16 cents A share, with quarterly earnings of 97 cents per share. Revenue also came in above consensus. CyberArk said, however, that its full-year adjusted EPS outlook is $2.26-$2.38, below the consensus estimate of $2.79 a share.

STOCK SYMBOL: CYBR

(CLICK HERE FOR LIVE STOCK QUOTE!)
Lyft (LYFT) – Lyft lost $1.19 per share for the fourth quarter, 20 cents a share less than Wall Street had been expecting. The ride-hailing service’s revenue beat consensus estimates. Lyft also said it is still on track to achieve a key measure of profitability by the end of 2021.

STOCK SYMBOL: LYFT

(CLICK HERE FOR LIVE STOCK QUOTE!)
Bed Bath & Beyond (BBBY) – The housewares retailer said same-store sales were down a greater-than-expected 5.4% in December and January, amid increased promotional pricing, lower store traffic, and issues with inventory management.

STOCK SYMBOL: BBBY

(CLICK HERE FOR LIVE STOCK QUOTE!)
Akamai Technologies (AKAM) – Akamai reported adjusted quarterly earnings of $1.23 per share, 10 cents a share above estimates. Akamai’s ’s revenue also beat Street forecasts. Results were driven by strong growth in its cloud security unit, as well as upbeat results for its flagship content delivery platform business.

STOCK SYMBOL: AKAM

(CLICK HERE FOR LIVE STOCK QUOTE!)
Alphabet (GOOGL) – Alphabet’s Google unit will be in court today, seeking to overturn one of three record European Union antitrust fines. Google had been fined $2.6 billion for allegedly favoring its own price comparison shopping service over those of smaller European competitors.

STOCK SYMBOL: GOOGL

(CLICK HERE FOR LIVE STOCK QUOTE!)
NCR (NCR) – NCR beat estimates by a penny a share, with quarterly profit of 85 cents per share. The payment processing software and services provider’s revenue was also above Street forecasts.

STOCK SYMBOL: NCR

(CLICK HERE FOR LIVE STOCK QUOTE!)
Western Union (WU) – Western Union reported quarterly earnings of 38 cents per share, 5 cents a share below estimates. The payment processing company’s revenue also beat forecasts, and Western Union gave an upbeat outlook for 2020. The company announced a 13% increase in its quarterly dividend as well.

STOCK SYMBOL: WU

(CLICK HERE FOR LIVE STOCK QUOTE!)
Macerich (MAC) – Macerich was downgraded to “underweight” from “neutral” at Piper Sandler, which thinks Simon Property’s (SPG) acquisition of Taubman Centers (TCO) makes an acquisition of the shopping center operator less likely.

STOCK SYMBOL: MAC

(CLICK HERE FOR LIVE STOCK QUOTE!)

DISCUSS!

What's on everyone's radar for today's trading day ahead here at smallstreetbets?

I hope you all have an excellent trading day ahead today on this Wednesday, February 12th, 2020! :)

submitted by bigbear0083 to smallstreetbets [link] [comments]

Subreddit Stats: btc top posts from 2019-01-06 to 2020-01-05 11:19 PDT

Period: 363.85 days
Submissions Comments
Total 1000 86748
Rate (per day) 2.75 237.19
Unique Redditors 317 7747
Combined Score 194633 356658

Top Submitters' Top Submissions

  1. 31014 points, 162 submissions: Egon_1
    1. Vitalik Buterin to Core Maxi: “ok bitcoiner” .... (515 points, 206 comments)
    2. These men are serving life without parole in max security prison for nonviolent drug offenses. They helped me through a difficult time in a very dark place. I hope 2019 was their last year locked away from their loved ones. FreeRoss.org/lifers/ Happy New Year. (502 points, 237 comments)
    3. "It’s official Burger King just accepted Bitcoin Cash and GoC token as a payment option in Slovenia." (423 points, 112 comments)
    4. "HOLY SATOSHI! 😱😱 I did it! A smart card that produces valid BitcoinCash signatures. Who would love to pay with a card—to a phone?? Tap took less than a second!👟..." (368 points, 105 comments)
    5. Chrome 'Has Become Surveillance Software. It's Time to Switch' -> Brave to support BCH! (330 points, 97 comments)
    6. Gavin Andresen (2017): "Running a network near 100% capacity is irresponsible engineering... " (316 points, 117 comments)
    7. "Evidently @github has banned all the Iranian users without an ability for them to download their repositories. A service like Github must be a public good and must not be controlled by a centralized entity. Another great example of why we as a society need to make web3 a reality" (314 points, 117 comments)
    8. Roger Ver: "Bitcoin Cash acceptance is coming to thousands of physical shops in Korea" (313 points, 120 comments)
    9. Paul Sztorc: “Will people really spend $70-$700 to open/modify a lightning channel when there's an Altcoin down the street which will process a (USD-denominated) payment for $0.05 ? Many people seem to think yes but honestly I just don't get it” (306 points, 225 comments)
    10. Food For Thought (303 points, 105 comments)
  2. 29021 points, 157 submissions: MemoryDealers
    1. Bitcoin Cash is Lightning Fast! (No editing needed) (436 points, 616 comments)
    2. Brains..... (423 points, 94 comments)
    3. Meanwhile in Hong Kong (409 points, 77 comments)
    4. Ross Ulbricht has served 6 years in federal prison. (382 points, 156 comments)
    5. Just another day at the Bitcoin Cash accepting super market in Slovenia. (369 points, 183 comments)
    6. Why I'm not a fan of the SV community: My recent bill for defending their frivolous lawsuit against open source software developers. (369 points, 207 comments)
    7. History Reminder: (354 points, 245 comments)
    8. It's more decentralized this way. (341 points, 177 comments)
    9. The new Bitcoin Cash wallet is so fast!!!!! (327 points, 197 comments)
    10. The IRS wants to subpoena Apple and Google to see if you have downloaded crypto currency apps. (324 points, 178 comments)
  3. 6909 points, 37 submissions: BitcoinXio
    1. Tim Pool on Twitter: “How the fuck are people justifying creating a world like the one's depicted in Fahrenheit 451 and 1984? You realize that censorship and banning information was a key aspect of the dystopian nightmare right?” (435 points, 75 comments)
    2. The creator of the now famous HODL meme says that the HODL term has been corrupted and doesn’t mean what he intended; also mentions that the purpose of Bitcoin is to spend it and that BTC has lost its value proposition. (394 points, 172 comments)
    3. Erik Voorhees on Twitter: “I wonder if you realize that if Bitcoin didn’t work well as a payment system in the early days it likely would not have taken off. Many (most?) people found the concept of instant borderless payments captivating and inspiring. “Just hold this stuff” not sufficient.” (302 points, 66 comments)
    4. Bitfinex caught paying a company to astroturf on social media including Reddit, Twitter, Medium and other platforms (285 points, 86 comments)
    5. WARNING: If you try to use the Lightning Network you are at extremely HIGH RISK of losing funds and is not recommended or safe to do at this time or for the foreseeable future (274 points, 168 comments)
    6. Craig Wright seems to have rage quit Twitter (252 points, 172 comments)
    7. No surprise here: Samson Mow among other BTC maxi trolls harassed people to the point of breakdown (with rape threats, etc) (249 points, 85 comments)
    8. On Twitter: “PSA: The Lightning Network is being heavily data mined right now. Opening channels allows anyone to cluster your wallet and associate your keys with your IP address.” (228 points, 102 comments)
    9. btc is being targeted and attacked, yet again (220 points, 172 comments)
    10. Brian Armstrong CEO of Coinbase using Bitcoin Cash (BCH) to pay for food, video in tweet (219 points, 66 comments)
  4. 6023 points, 34 submissions: money78
    1. BSV in a nutshell... (274 points, 60 comments)
    2. There is something going on with @Bitcoin twitter account: 1/ The URL of the white paper has been changed from bitcoin.com into bitcoin.org! 2/ @Bitcoin has unfollowed all other BCH related accounts. 3/ Most of the posts that refer to "bitcoin cash" have been deleted?!! Is it hacked again?! (269 points, 312 comments)
    3. "Not a huge @rogerkver fan and never really used $BCH. But he wiped up the floor with @ToneVays in Malta, and even if you happen to despise BCH, it’s foolish and shortsighted not to take these criticisms seriously. $BTC is very expensive and very slow." (262 points, 130 comments)
    4. Jonathan Toomim: "At 32 MB, we can handle something like 30% of Venezuela's population using BCH 2x per day. Even if that's all BCH ever achieved, I'd call that a resounding success; that's 9 million people raised out of poverty. Not a bad accomplishment for a hundred thousand internet geeks." (253 points, 170 comments)
    5. Jonathan Toomim: "BCH will not allow block sizes that are large enough to wreak havoc. We do our capacity engineering before lifting the capacity limits. BCH's limit is 32 MB, which the network can handle. BSV does not share this approach, and raises limits before improving actual capacity." (253 points, 255 comments)
    6. What Bitcoin Cash has accomplished so far 💪 (247 points, 55 comments)
    7. Which one is false advertising and misleading people?! Bitcoin.com or Bitcoin.org (232 points, 90 comments)
    8. A message from Lightning Labs: "Don't put more money on lightning than you're willing to lose!" (216 points, 118 comments)
    9. Silk Road’s Ross Ulbricht thanks Bitcoin Cash’s [BCH] Roger Ver for campaigning for his release (211 points, 29 comments)
    10. This account just donated more than $6600 worth of BCH via @tipprbot to multiple organizations! (205 points, 62 comments)
  5. 4514 points, 22 submissions: unstoppable-cash
    1. Reminder: bitcoin mods removed top post: "The rich don't need Bitcoin. The poor do" (436 points, 89 comments)
    2. Peter R. Rizun: "LN User walks into a bank, says "I need a loan..." (371 points, 152 comments)
    3. It was SO simple... Satoshi had the answer to prevent full-blocks back in 2010! (307 points, 150 comments)
    4. REMINDER: "Bitcoin isn't for people that live on less than $2/day" -Samson Mow, CSO of BlockStream (267 points, 98 comments)
    5. "F'g insane... waited 5 hrs and still not 1 confirmation. How does anyone use BTC over BCH BitcoinCash?" (258 points, 222 comments)
    6. Irony:"Ave person won't be running LN routing node" But CORE/BTC said big-blocks bad since everyone can't run their own node (256 points, 161 comments)
    7. BitPay: "The Wikimedia Foundation had been accepting Bitcoin for several years but recently switched pmt processors to BitPay so they can now accept Bitcoin Cash" (249 points, 61 comments)
    8. FreeTrader: "Decentralization is dependent on widespread usage..." (195 points, 57 comments)
    9. The FLIPPENING: Fiat->OPEN Peer-to-Peer Electronic Cash! Naomi Brockwell earning more via BitBacker than Patreon! (193 points, 12 comments)
    10. LN Commentary from a guy that knows a thing or 2 about Bitcoin (Gavin Andresen-LEAD developer after Satoshi left in 2010) (182 points, 80 comments)
  6. 3075 points, 13 submissions: BeijingBitcoins
    1. Last night's BCH & BTC meetups in Tokyo were both at the same restaurant (Two Dogs). We joined forces for this group photo! (410 points, 166 comments)
    2. Chess.com used to accept Bitcoin payments but, like many other businesses, disabled the option. After some DMs with an admin there, I'm pleased to announce that they now accept Bitcoin Cash! (354 points, 62 comments)
    3. WSJ: Bitfinex Used Tether Reserves to Mask Missing $850 Million, Probe Finds (348 points, 191 comments)
    4. Bitcoiners: Then and Now [MEME CONTEST - details in comments] (323 points, 72 comments)
    5. I'd post this to /Bitcoin but they would just remove it right away (also I'm banned) (320 points, 124 comments)
    6. So this is happening at the big protest in Hong Kong right now (270 points, 45 comments)
    7. /Bitcoin mods are censoring posts that explain why BitPay has to charge an additional fee when accepting BTC payments (219 points, 110 comments)
    8. The guy who won this week's MillionaireMakers drawing has received ~$55 in BCH and ~$30 in BTC. It will cost him less than $0.01 to move the BCH, but $6.16 (20%) in fees to move the BTC. (164 points, 100 comments)
    9. The Bitcoin whitepaper was published 11 years ago today. Check out this comic version of the whitepaper, one of the best "ELI5" explanations out there. (153 points, 12 comments)
    10. Two Years™ is the new 18 Months™ (142 points, 113 comments)
  7. 2899 points, 18 submissions: jessquit
    1. Oh, the horror! (271 points, 99 comments)
    2. A few days ago I caught flak for reposting a set of graphs that didn't have their x-axes correctly labeled or scaled. tvand13 made an updated graph with correct labeling and scaling. I am reposting it as I promised. I invite the viewer to draw their own conclusions. (214 points, 195 comments)
    3. Do you think Bitcoin needs to increase the block size? You're in luck! It already did: Bitcoin BCH. Avoid the upcoming controversial BTC block size debate by trading your broken Bitcoin BTC for upgraded Bitcoin BCH now. (209 points, 194 comments)
    4. Master list of evidence regarding Bitcoin's hijacking and takeover by Blockstream (185 points, 113 comments)
    5. PSA: BTC not working so great? Bitcoin upgraded in 2017. The upgraded Bitcoin is called BCH. There's still time to upgrade! (185 points, 192 comments)
    6. Nobody uses Bitcoin Cash (182 points, 88 comments)
    7. Double-spend proofs, SPV fraud proofs, and Cashfusion improvements all on the same day! 🏅 BCH PLS! 🏅 (165 points, 36 comments)
    8. [repost] a reminder on how btc and Bitcoin Cash came to be (150 points, 102 comments)
    9. Holy shit the entire "negative with gold" sub has become a shrine devoted to the guilded astroturfing going on in rbtc (144 points, 194 comments)
    10. This sub is the only sub in all of Reddit that allows truly uncensored discussion of BTC. If it turns out that most of that uncensored discussion is negative, DON'T BLAME US. (143 points, 205 comments)
  8. 2839 points, 13 submissions: SwedishSalsa
    1. With Bitcoin, for the first time in modern history, we have a way to opt out. (356 points, 100 comments)
    2. In this age of rampant censorship and control, this is why I love Bitcoin. (347 points, 126 comments)
    3. The crypto expert (303 points, 29 comments)
    4. Satoshi reply to Mike Hearn, April 2009. Everybody, especially newcomers and r-bitcoin-readers should take a step back and read this. (284 points, 219 comments)
    5. Bitcoin Cash looking good lately. (235 points, 33 comments)
    6. Roger Ver bad (230 points, 61 comments)
    7. History of the BTC scaling debate (186 points, 54 comments)
    8. MFW i read Luke Jr wants to limit BTC blocks to 300k. (183 points, 116 comments)
    9. Meanwhile over at bitcoinsv... (163 points, 139 comments)
    10. Listen people... (155 points, 16 comments)
  9. 2204 points, 10 submissions: increaseblocks
    1. China bans Bitcoin again, and again, and again (426 points, 56 comments)
    2. China bans Bitcoin (again) (292 points, 35 comments)
    3. Bitcoin Cash Network has now been upgraded! (238 points, 67 comments)
    4. So you want small blocks with high fees to validate your own on chain transactions that happen OFF CHAIN? (212 points, 112 comments)
    5. It’s happening - BTC dev Luke jr writing code to Bitcoin BTC codebase to fork to lower the block size to 300kb! (204 points, 127 comments)
    6. Former BTC maximalist admits that maxi's lied cheated and stealed to get SegWit and Lightning (201 points, 135 comments)
    7. Just 18 more months to go! (172 points, 86 comments)
    8. Bitcoin Cash ring - F*CK BANKS (167 points, 51 comments)
    9. LTC Foundation chat leaked: no evidence of development, lack of transparency (155 points, 83 comments)
    10. A single person controls nearly half of all the Lightning Network’s capacity (137 points, 109 comments)
  10. 2138 points, 12 submissions: JonyRotten
    1. 'Craig Is a Liar' – Early Adopter Proves Ownership of Bitcoin Address Claimed by Craig Wright (309 points, 165 comments)
    2. 200,000 People Have Signed Ross Ulbricht's Clemency Petition (236 points, 102 comments)
    3. Street Artist Hides $1,000 in BTC Inside a Mural Depicting Paris Protests (236 points, 56 comments)
    4. Craig Wright Ordered to Produce a List of Early Bitcoin Addresses in Kleiman Lawsuit (189 points, 66 comments)
    5. Ross Ulbricht Clemency Petition Gathers 250,000 Signatures (163 points, 24 comments)
    6. Ross Ulbricht Letter Questions the Wisdom of Imprisoning Non-Violent Offenders (160 points, 50 comments)
    7. Expert Witness in Satoshi Case Claims Dr Wright's Documents Were Doctored (155 points, 44 comments)
    8. California City Official Uses Bitcoin Cash to Purchase Cannabis (151 points, 36 comments)
    9. Money Transmitter License Not Required for Crypto Businesses in Pennsylvania (141 points, 9 comments)
    10. McAfee to Launch Decentralized Token Exchange With No Restrictions (137 points, 35 comments)

Top Commenters

  1. jessquit (16708 points, 2083 comments)
  2. Ant-n (7878 points, 1517 comments)
  3. MemoryDealers (7366 points, 360 comments)
  4. Egon_1 (6205 points, 1001 comments)
  5. 500239 (5745 points, 735 comments)
  6. BitcoinXio (4640 points, 311 comments)
  7. LovelyDay (4353 points, 457 comments)
  8. chainxor (4293 points, 505 comments)
  9. MobTwo (3420 points, 174 comments)
  10. ShadowOfHarbringer (3388 points, 478 comments)

Top Submissions

  1. The perfect crypto t-shirt by Korben (742 points, 68 comments)
  2. The future of Libra Coin by themadscientistt (722 points, 87 comments)
  3. when you become a crypto trader... by forberniesnow (675 points, 54 comments)
  4. A Reminder Why You Shouldn’t Use Google. by InMyDayTVwasBooks (637 points, 209 comments)
  5. Imagine if in 2000 Apple just sat around all day shit-talking Microsoft. Apple would have never gone anywhere. Apple succeeded because they learned from their mistakes, improved, and got better. BCH should do the same. by guyfawkesfp (552 points, 255 comments)
  6. Bitcoin made The Simpsons intro! Sorry for the potato quality by Johans_wilgat (521 points, 44 comments)
  7. Vitalik Buterin to Core Maxi: “ok bitcoiner” .... by Egon_1 (515 points, 206 comments)
  8. Can't stop won't stop by Greentoboggan (514 points, 78 comments)
  9. These men are serving life without parole in max security prison for nonviolent drug offenses. They helped me through a difficult time in a very dark place. I hope 2019 was their last year locked away from their loved ones. FreeRoss.org/lifers/ Happy New Year. by Egon_1 (502 points, 237 comments)
  10. Blockchain? by unesgt (479 points, 103 comments)

Top Comments

  1. 211 points: fireduck's comment in John Mcafee on the run from IRS Tax Evasion charges, running 2020 Presidential Campaign from Venezuela in Exile
  2. 203 points: WalterRothbard's comment in I am a Bitcoin supporter and developer, and I'm starting to think that Bitcoin Cash could be better, but I have some concerns, is anyone willing to discuss them?
  3. 179 points: Chris_Pacia's comment in The BSV chain has just experienced a 6-block reorg
  4. 163 points: YourBodyIsBCHn's comment in I made this account specifically to tip in nsfw/gonewild subreddits
  5. 161 points: BeijingBitcoins's comment in Last night's BCH & BTC meetups in Tokyo were both at the same restaurant (Two Dogs). We joined forces for this group photo!
  6. 156 points: hawks5999's comment in You can’t make this stuff up. This is how BTC supporters actually think. From bitcoin: “What you can do to make BTC better: check twice if you really need to use it!” 🤦🏻‍♂️
  7. 155 points: lowstrife's comment in Steve Wozniak Sold His Bitcoin at Its Peak $20,000 Valuation
  8. 151 points: kdawgud's comment in The government is taking away basic freedoms we each deserve
  9. 147 points: m4ktub1st's comment in BCH suffered a 51% attack by colluding miners to re-org the chain in order to reverse transactions - why is nobody talking about this? Dangerous precident
  10. 147 points: todu's comment in Why I'm not a fan of the SV community: My recent bill for defending their frivolous lawsuit against open source software developers.
Generated with BBoe's Subreddit Stats
submitted by subreddit_stats to subreddit_stats [link] [comments]

Wealth Formula Episode 188: Ask Buck Part 2 (Transcript part 2)

So all right next question and we're already going pretty late this is a long question, okay this is a very long question or at least my answer is going to be very long because this is from Eric. He says this is a hypothetical question if you could participate actively and/or passively and only three of the following alternative investment types over the next five to seven years which ones and why. Okay so there's a long, there's a laundry list of different things here which I think it's useful to go over. These are all things I think the reason Eric has them is because they have been the subject of podcasts of mine over a period of time. Let me give you my personal opinion on each, it's not again not investor advice right this is not it advice, this is my opinion but I'm gonna go through each one that's on this laundry list and just give you a short little feedback from my opinion okay and then I'll come back and I'll give you my three favorites. So self storage units okay I like self storage. I like self storage because it's resilient to the cycles, the recessionary cycles etc and the issue like anywhere else though is you got to find the right operator. You can also you know you could probably learn to do this. I have not necessarily you know learned to do this but I think it's a good business, you know especially with the demographic changes, the boomers as they retire and they leave their you know big houses and they move somewhere warm like Florida or something like that then they got to put their stuff places and that makes it great or you can raise rents very quickly in these things. You basically nickel dime people up you know significantly every year the challenge is finding where do you invest and so I'll tell you that you know I'm not a big fan of funds. I know there are some funds out there I'm not a big fan of them because I like to know what's in the portfolio and I know for a fact that some of the funds are basically you know just a bunch of properties that no one wanted to take down an individual asset necessarily and so they all kind of got grouped together. I like self storage but the deal has to be just right. It has to be just the right location etc etc okay and by the way I think again and from an inflationary standpoint it's a great, great place to be too but you gotta find the right deal. I'm sure we'll get hopefully we'll get one this year in Investor Club. Mobile home parks. Mobile home parks now this should be a good place for hedging the economy because of low-income housing right because of the low income housing play right there's always gonna be people who need it. The problem is okay let me back up there are people who own mobile home parks who are doing really well and if you want to get it in into that I mean hey more power to you I mean there's people who are doing well and and they're making decent money but always just look it as a pure cash flow play okay and if you buy it on your own you may get who knows fifteen twenty percent cash on cash and you know you get a you're gonna know how to run these things. I don't know very much about it. I hear it's not necessarily that hard but you know I mean obviously the professional operators are probably gonna do more with it but you can still make their basically cash counts right now. Here's the problem with investing in them as a limited partner though is that most of funds I see they might be giving you nine ten percent and for me for that kind of low-income housing, I mean this is really like you know Class D stuff right, I mean this is below apartment buildings so nine ten percent is just not enough right and the reason why that you're only getting you know eight nine ten percent is because well I mean the operators are taking the other half usually. If you can learn to buy these on your own then it might be worth it but the reality is that in a fund model or a syndicated model there isn't gonna be a lot of upside there, right? I mean think about it. What do we do in the apartment space? We have the ability to raise rents quite a bit and improve these properties. You can even take a property that has you know currently has residents who are you know C plus residents and all of a sudden you know you've got some hipsters in there and also you've opened up a new completely different kind of asset right? You can do that with apartments but in mobile home parks you really can't do that, you can't do that. I mean seriously like how much can you raise the rent on a mobile home park, you know people are living in mobile home parks if they move up too much then they don't live in mobile home parks anymore so the bottom line is the appreciation on there is gonna be limited. The upside is gonna be limited and that means the annualized return will be limited okay because you're not gonna be able to rely very much on appreciation. It's going to be your cash on cash and think of it that's all. So I'm not a big fan. I'm just not a big fan because if you think about it the next thing on the list here, large multifamily 50-plus units. Well for me this is my number one asset class. I mean people gotta live somewhere and unlike mobile home parks you can get significant IRRs annualized returns by value-add through inflation and gentrification all these things that you really are limited in mobile home parks, you know you can't count on all that with mobile home parks and the reality is for investors if you look in you know Investor Club, our yields are just just as good as but the better than what you're seeing in the funds for mobile home parks and they're much higher quality assets in the right hands. In my opinion is even as a limited partner this continues to be the best place for not only capital preservation and growth capital preservation but also growth in the next five ten years. Okay so small multifamily in other words see you don't want to be a limited partner okay, you want to buy ten, 20 units etc. Well I used to do that more. I don't really do that anymore and I did really well right I mean I did really well with that kind of strategy. If you're a good operator then great go for it. The problem is that okay so say you're buying like a you know a million dollar asset you're gonna put in two hundred, two hundred fifty thousand dollars in that one asset to just buy it. The problem is that the risk profile is significant there if you don't know what you're doing right now as opposed to you know spreading your two hundred, two hundred fifty thousand over four deals in a syndicated deal and getting exposure to you know ten times more doors all of a sudden you've got two million dollars you know you've got two hundred two hundred fifty thousand dollars of equity sitting in one deal and his buck stops with you so if you are comfortable with that by all means I was comfortable with it I didn't necessarily like it and so what I would what I would say is if you're the type of person who really wants to get into the real estate game and be a landlord then go for it otherwise don't. Understand that it's very different to have a ten, twenty unit apartment building than it is a two hundred unit apartment building. One you're a landlord, the other one you're managing a small business so just be aware of that. Single-family homes is the next one on the list and I'll just tell you I just don't like them enough for our, not for our demographic, meaning like accredited investors, because you know you have the ability to do something a lot more scalable right, just through syndications and getting lots and lots of exposures. The thing I don't like about single family homes here's the deal, there's not enough scalability, there's too much Capex, okay so one roof and one furnace each unit and everyone I know who owns five or six single-family homes wishes they didn't own five or six in a single family homes they want to sell them. These get to ten and they're like this is terrible and you know I get a hundred dollars per property and then the next thing you know one month I get a five thousand dollar furnace to replace, so I'm not a big fan. So with multifamily if you're gonna do it on your own I would recommend that an award the way I think that most people who are probably not natural-born landlords should do is its consider syndications. When you get more scale and exposure to more doors, things become more stable, cash flow becomes more stable,there's less risk and in reality what we're seeing in our you know in our limited partnership opportunities is that the returns are you know better than probably most people can do on their own. The next one on the list is agriculture. Agriculture followed by CBD, specialty coffee, chocolate, well so let's start with you know some of these things because I know they've been on my podcast before, and just understand that when I have something on a podcast it does not mean I am advocating for it or saying that you should invest in it or that I even like the deal. All right so let's start with some generalities. Agriculture is fine. The stuff that I see some of the stuff that I'm seeing out there in the podcast ecosystem that you're mentioning concerns me okay and one of them is that I don't like foreign investments very much. I've had some experience with them I've realized the implications of those and I won't do them again, certainly with a smaller operator and the reason for that is that if things go wrong there you have very little recourse okay, yeah very little recourse and it's very difficult you know you have to know your operator very well. You have to trust them because if something happens overseas good luck trying to you know get any sort of retribution, ain't gonna happen right so be very careful with that, I know people get excited about it you know they go on some sort of you know they go on some sort of like investment trip and they come back and you know they're excited, they heard about something like this and it's shiny and bright and stuff like that well why what's the point, I just you know the best place to invest is right here in the US okay. The other thing is agriculture in general I would say it's fine, it's gonna be low yield and also I will say that when there's some thing like it doesn't grow three years and won't yield any cash flow for that period of time what seriously you're okay with that? Okay I'm not. And then on top of that when you sign the contract on these things look at the fine print. Look at what your exit is because you should never invest in anything unless you've thoroughly thought about how you're going to get out of it and some of these things have that problem as well. I'm not a big fan personally. Okay now CBD and I've seen that come up in the ecosystems a lot lately I again I CBD again that space is full of charlatans I would just be careful you know I see stuff people like yeah we're gonna go do this in California right well listen I live in California okay and let me tell you right now everybody I know around here knows this to be true. There is a glut of pot in California you know and apart from a selective highly skilled business people who are in the space, everyone else is gonna get killed, they just are there's this is like you know the horse has already left on this one right. People think I'm gonna do CBD in California guess what there's a few people have thought about this before you and if you're coming into this space and you have no previous experience in you know pot in CBD and all this stuff you're gonna be you're way behind. Okay and the last thing is that unless you are a major player like you got serious pockets behind you I would stay away from this because there is there is like so many laws and so many things to dodge in the space. All I can tell you is I have yet to see you know personally you know from anything that I've been you know sent that's in the US in California anything like that I would be comfortable investing in. Okay now I know there's you know startups and things like that and if you want to spend a little bit of money and those from you know people who know what they're talking about I get it but I would definitely look at that as a fairly high risk thing but for heaven's sake you know just don't listen to a Podcast or you know get an email about hey we're gonna start growing pot in California you want in just please think okay. Let's see the next one I'm going to skip oil and gas because I think I have a question coming up about oil and gas here in a moment. Cryptocurrency again listen it's an asymmetric risk type thing shouldn't be your bread and butter thing at all I mean 5-10 percent max in this bucket of asymmetric risk things that could go I mean the reason I do it is a listen, Bitcoin goes up by you know 10x which I honestly personally think it will you know in the five to 10-year horizon I want to be able to to enjoy that. Now it's not something that I would spend a lot more than that on. Personally I only put money in there that you know keeps me from you know it's the money that I would just spend on things that will you know like a fancy car something like that's what I do. Life settlements okay life settlements just as a reminder what are they? Life settlements are when you buy somebody else's life insurance policies, so maybe somebody's you know 80 years old in real bad health they would like money now they don't have any you know they're not worried about their kids don't need any money anymore so you can buy these policies from them. A lot of times that you know 50 60 cents on the dollar which is a much better deal for them than not getting any money or just you know trying to pull out cash value, it's generally going to be more than the cash value so it's an interesting play. We've talked about this before. We actually have a webinar on it at hedgetheeconomy.com if you're interested. So you're investing life settlements, you know you're basically looking and saying I'm a little worried about the economy and maybe I have a self-directed IRA or solo 401k because you know honestly the other thing is that this is not a tax sheltered type investment so you have to think about that as well, you think to yourself I want to hedge I want a small part of my portfolio something that I feel very comfortable is gonna be there. Well out of all the things that are guarantees in life, death is probably the only one that, people used to say death and taxes but you know I mean the president United States paying taxes has no guarantee in life right I mean death is the only guarantee in life so that it might be worth it, check it out for yourself, hedgetheeconomy.com. Now, notes. Notes it's sort of broad. Notes basically being liens on property for the most part, a lot of times that's what it's indicating. It really depends on the operator you know, I would you know look at it as you know if you look at AHP Servicing you know with Jorge’s company I have looked at this in terms of short-term kind of places to put money for liquidity that I can pull out you know if there's a liquid fund like AHP Servicing for example, but I like appreciation and so that's the problem right, so you might get nine, ten percent cash on cash in notes, you might do a little bit better but you know you're not getting any tax advantages. So with multifamily real estate I mean I can still get nine, ten percent cash on cash and then I get twenty percent plus I are ours typically and you know the nine, ten percent I got is tax deductible so it's really the tax equivalent of making like fifteen percent. So you know fortunately if it's me I do equity over any kind of real estate debt and mostly it's because of the tax advantages. Now if you are gonna do it again, look at your qualified money like IRAs, 401ks etc and you know look at a fund. I also think this is one of those things where you really have to look at the operator. I do like Jorge. He's one of the smartest guys I know so AHP Servicing certainly would be something to consider and I so like liquidity the component of this is a nice place to keep it for a period time. And understand it's not without risk either. This is non-performing paper, but again that's where the operator comes in and you know I think Jorge is a really smart guy so I feel fairly comfortable with that. Gold and silver well honestly I don't see the point as I've said earlier, I mean gold and silver are hedge to inflation so this real estate cash flows and frankly I don't believe in the zombie apocalypse narrative that I have heard before you know where you buy that monster box of silver coins which by the way I did because I drank the kool-aid a few years ago and you know there's this idea that you know you're the only thing that's gonna be able to buy anything is a monster box of silver that's the only thing that people are gonna accept. Well I just don't think that's gonna happen so for me why not buy real estate at least you know you know you can force appreciation etc. Now if you're super paranoid on real estate just you know limit your leverage I'm not saying don't own gold a silver I'm just saying think about it before you go and drink the kool-aid on the you know the fear-based stuff there music royalties and we did have a podcast on that honestly I just don't know much about it but you know some people seem to be doing okay with it I wouldn't make this a core holding unless you were in the business and really know what you're doing. I would put this in your high risk profile. Artwork, similar. Listen I like our work is like gold in my view and if you are an art buff and you really know what you're doing then go for it but I'm not. Some people like vintage cars like me to enjoy it and allow it to appreciate. I think art is similar to that right, so it goes into that pile that I've talked about before where it's like if you have an inch you know if you're one of those people who buys stuff you know nice stuff and you know you want nice stuff well art not fine art and vintage cars are fun but they will appreciate so I think art is similar to that. I know we podcast on fractional ownership apart you don't get the same effect because you know get to keep it in your house but you know you do get to they do keep it in a gallery so that's kind of neat however you know what I'm not a big enough art guy to do this so I'm gonna stick to bread-and-butter stuff instead like real estate, websites, online businesses, if you know what you're doing this can be very profitable. The problem is that most people don't know what they're doing and I have looked into these things a little bit on behalf of people and I've been a little suspicious at least if some of the sites they seem like Ponzi schemes to me but I don't know for sure. Okay but if you know what you're doing with this this is a great space I mean you can make a lot you can make a decent money with this. I've done that private lending well private lending you know as opposed to notes I guess you're just lending to flippers and stuff I mean I would suggest that this is not a bad thing to do if you know how to do it. I know if there's some people who do it pretty fairly prolifically in our group here's what I would suggest though if you're worried about the economy or at all and lending the home flippers is probably one of the riskiest thing you can do but how can you mitigate that risk? Well you may just loan at you know fifty percent loan to value right and in that situation if they can't pay you back at least you've got a property that you can take over at 50 percent of the cost right now. I definitely would not be you know doing super high loan-to-value type notes or private loans and then you know obviously there's some stuff like Lending Club and stuff I have not really you know looked into much, but I think some people have where you can do some of that as well but okay so that's the big list of my favorites. Large scale real estate like apartments and self storage and one that you didn't mention on here that we talked about earlier, Wealth Formula Banking. For me that stocks and bonds that's equity and basically a bond a structure for me right and that makes up 90% of my investments right there and then the rest of its you know shiny stuff, asymmetric risk stuff like Bitcoin gives me exposure to something that could explode and make me a lot of money potentially with a small investment, but if I lose it and won't go crying so you know bottom line is that I mean the the moral of this story is keep it simple. I think one of the things that I noticed that a lot of people are doing because of the podcast ecosystem and I'm somewhat to blame for this because they think you know we do put on different types of things but we've really narrowed that down a lot is that my advice would be that what I have noticed in my own investing success track record over the last 10 years is the stuff that makes money tends to be pretty boring right like real estate I mean at least I've done so many things in the last 10 years and you know the thing that keeps paying me is the stuff that's the most boring. So don't go look out look for shiny objects okay don't look for foreign investments don't look for you know crazy stuff when it comes to your bread-and-butter stuff keep it boring right I mean seriously you know you've got a if you're a limited partner you find a with an operator that keeps delivering why are you looking like for 10 different things. Okay I understand there's a need for some diversity but okay maybe two or three different things and maybe similar types of you know you find good operators you stick with them but you don't need like ten of those I mean it's silly right, just pick a few things and if there's some you know stuff like Bitcoin or something like that really interests you and that's kind of fun for you then you want to buy some you know vintage cars or something like that do that, but stay boring. There's an eloquence about boring that I have experienced in the last decade that I can just say from my experience over time it's not as boring when you get those nice payouts. So anyway we still have a bunch of questions and I've been going for almost an hour so I'm going cut it off and there will be therefore a part 3 Ask Buck. But I do want to thank you and for for having all these questions and we will have part three of Ask Buck next time. Thanks for joining Wealth Formula Podcast. This is Buck Joffrey signing off.
submitted by Buck_Joffrey to u/Buck_Joffrey [link] [comments]

Ex-Intel Chief Says Venezuela Secretly Mines Crypto + 11 More News

Ex-Intel Chief Says Venezuela Secretly Mines Crypto + 11 More News
Crypto Briefs is your daily bite-sized digest of cryptocurrency and blockchain-related news – keeping you up-to-date with under the radar crypto news from around the world.
https://preview.redd.it/uzfm6yelf3x31.jpg?width=767&format=pjpg&auto=webp&s=830d11dfd2b31eaa17ea3ce7d1e0e2ab800353bb

Mining news

  • The former head of Venezuela’s Bolivarian National Intelligence Service has alleged that Venezuela is secretly mining cryptocurrency on a massive scale – to the extent that citizens are now experiencing frequent blackouts and power shortages. Per a report from media outlet Konzapata, Simón Zerpa, the former head of the intelligence agency, known locally as Sebin, the country has imported a number of USD 5,000 rigs from China under the guise of creating infrastructure for its own Petro token. In another article from the same media outlet, Zerpa also claims the crypto exchanges that accept Petro trading in Venezuela are all directly controlled by prominent figures within the government.

Trading news

  • Binance has announced that it has opened Nigerian fiat naira-to-crypto trading. Per an official announcement, the company stated that it was now offering naira pairings with Bitcoin, as well as its own new American dollar-pegged BUSD stablecoin and the Binance Coin (BNB). Meanwhile, in the United States, Binance US has also announced that it has begun listing the Dogecoin cryptocurrency.
  • Cryptocurrency exchange Bittrex says that the New York Department of Financial Services (NYDFS) has requested that Bittrex postpone the New York account closure deadline until further notice. Therefore, New York residents will be able to continue to withdraw funds, but may not deposit or trade on this platform. All trading for New York customers was halted in April 2019 and all account access was disabled in June by direction of the NYFDS.

Legal news

  • An American man is attempting to sue carrier AT&T, reports ABC. The man claims that AT&T staff allowed a hacker to access his mobile phone number, leading to the theft of over USD 1.8 million worth of cryptocurrencies from accounts at a number of cryptocurrency exchanges. The man says he was the victim of a SIM swap sting which has deprived him of his “entire life savings.”
  • Police in Poland arrested president of Crypto Capital, aka Global Trade Solutions AG, Ivan Manuel Molina Lee, on accusations of money laundering as a member of the international drug cartel. According to W Polityce, he is wanted in Poland for laundering up to 1.5 billion zloty (c. USD 390 million) and laundering money for Columbian drug cartels through a cryptocurrency exchange. Meanwhile, Crypto Capital is accused by Bitfinex of losing USD 880 million of fund the exchange entrusted it with. As reported this week, the parent company of Bitfinex, iFinex Inc., has filed an application for discovery in the U.S. District Court for the Central District of Southern California on October 18, 2019. iFinex claims that the discovery concerns its attempts to recover the aforementioned USD 880 million which the company allegedly wasn't able to access from December 2018 at least.

Regulation news

  • The Deputy Chair of Russia’s upper house Constitutional Legislation Committee says there is an “urgent need” for the country to introduce blockchain- and cryptocurrency-related legislation. Per the country’s Parliamentary Gazette, the committee’s Lyudmila Bokova says the government’s regulatory framework cannot keep up with the pace of innovation.

Adoption news

  • Russia’s Central Bank says it is considering using blockchain technology to power a system of cross-border remissions that it wants to have active by 2023, per RBC. The bank wants to speed up its digitization process, but its governor and deputy governors remain bitterly opposed to cryptocurrency usage – favoring a total, China-style crackdown.
  • Japan’s Softbank, IBM Japan and TBCASoft (of the USA) have all joined forces to create a blockchain solution for mobile carriers using inter-carrier blockchain technology. Per Fisco, via Gentoshoa, the parties want to work on a new solution that would allow Japanese phone owners to use their mobile-based payment applications at stores overseas, and enable inter-carrier transactions.
  • Though adoption is far from widespread, a rising number of Americans own crypto, according to a survey of 2,068 participants commissioned by Finder, an independent comparison platform and information service. In the last year, the survey says, the number of respondents who own a cryptocurrency has almost doubled from 7.95% in 2018 to 14.4% in 2019, which is an increase of 81% in one year. The average total in crypto that each is holding is USD 5,447, while the median amount of crypto in American digital wallets is just USD 360, claims the survey.
  • ConsenSys Space, a subsidiary of blockchain company ConsenSys, has announced the launch of a new satellite tracker based on Ethereum’s network - a project called TruSat. According to their tweet, it is "a citizen-powered, open source system for creating a globally-accessible, trusted record of satellite orbital positions." The website further explains that TruSat is primarily designed to enable the assessment of satellite operations in the context of space sustainability standards, and that the software merges observations of a satellite from around the world into a transparent record of its location.

Investment News

  • Bitcoin startup Coinplug raised KRW 7.5 billion (USD 6.4 million) in a Series B-2 round funding. According to the announcement, the investors taking part in this round were South Korea's influential venture capital firms Mirae Asset Venture Investment, Smilegate Investment and KB Investment. With this investment the company says its total funding to date is over USD 12 million.
  • SIBEX AG, developer of the peer-to-peer protocol, raised CHF 1.78 million (USD 1.79 million) in its seed funding round, with Fenbushi Capital, SIX, Accomplice and others taking part as investors, according to the press release.
submitted by CryptoHamstereu to u/CryptoHamstereu [link] [comments]

Playing with fire with FinCen and SEC, Binance may face a hefty penalty again after already losing 50 percent of its trading business

On 14 June, Binance announced that it “constantly reviews user accounts to improve (their) platform security and to comply with global compliance requirements”, mentioning that “Binance is unable to provide services to any U.S. person” in the latest “Binance Terms of Use” attached within the announcement.
According to the data from a third-party traffic statistics website, Alexa, users in the U.S. form the biggest user group of Binance, accounting for about 25% of the total visitor traffic.
In the forecast of Binance’s user scale compiled by The Block, the largest traffic is dominated by users in the U.S., surpassing the total of the ones from the second place to the fifth place.
Also, considering that the scale of digital asset trading for the users in the U.S. far exceeds that of the users of many other countries, it could mean that Binance may have already lost 50 % of the business income by losing users in the U.S. Apparently, such an announcement by Binance to stop providing services to users in the U.S. means Binance has no other alternative but “seek to live on.”
So, what are the specific requirements of the U.S. for digital asset exchanges and which of the regulatory red lines of the U.S. did Binance cross?
Compliance issues relating to operation permission of digital asset exchanges
In the U.S., the entry barrier for obtaining a business license to operate a digital asset exchange is not high. Apart from the special licencing requirements of individual states such as New York, most of the states generally grant licences to digital asset exchanges through the issuance of a “Money Transmitter License” (MTL).
Each state has different requirements for MTL applications. Some of the main common requirements are:
Filling out the application form, including business address, tax identification number, social security number and statement of net assets of the owneproprietor Paying the relevant fees for the licence application Meeting the minimum net assets requirements stipulated by the state Completing a background check Providing a form of guarantee, such as security bonds
It is worth noting that not all states are explicitly using MTL to handle the issues around operation permission of digital asset exchanges. For instance, New Hampshire passed a new law on 12 March 2017, announcing that trading parties of digital assets in that state would not be bound by MTL. Also, Montana has not yet set up MTL, keeping an open attitude towards the currency trading business.
On top of obtaining the MTL in each state, enterprises are also required to complete the registration of “Money Services Business” (MSB) on the federal level FinCEN (Financial Crimes Enforcement Network of the U.S. Treasury Department) issued the “Application of FinCEN’s Regulations to Persons Administering, Exchanging, or Using Virtual Currencies” on 18 March 2013. On the federal level, the guideline requires any enterprise involved in virtual currency services to complete the MSB registration and perform the corresponding compliance responsibilities. The main responsibility of a registered enterprise is to establish anti-money laundering procedures and reporting systems.
However, California is an exception. Enterprises in California would only need to complete the MSB registration on the federal level and they do not need to apply for the MTL in California.
Any enterprise operating in New York must obtain a virtual currency business license, Bitlicense, issued in New York
Early in July 2014, the New York State Department of Financial Services (NYSDFS) has specially designed and launched the BitLicense, stipulating that any institutions participating in a business relevant to virtual currency (virtual currency transfer, virtual currency trust, provision of virtual currency trading services, issuance or management of virtual currencies) must obtain a BitLicense.
To date, the NYSDFS has issued 19 Bitlicenses. Among them includes exchanges such as Coinbase (January 2017), BitFlyer (July 2017), Genesis Global Trading (May 2018) and Bitstamp (April 2019).
Solely from the perspective of operation permission, Binance has yet to complete the MSB registration of FinCEN (its partner, BAM Trading, has completed the MSB registration). This means that Binance is not eligible to operate a digital asset exchange in the U.S. FinCEN has the rights to prosecute Binance based on its failure to fulfil the relevant ‘anti-money laundering’ regulatory requirements.
Compliance issues relating to online assets
With the further development of the digital asset market, ICO has released loads of “digital assets” that have characteristics of a “security” into the trading markets. The Securities and Exchange Commission (SEC) has proposed more comprehensive compliance requirements for digital asset exchanges. The core of the requirements is reflected in the restrictions of offering digital assets trading service.
In the last two years, the SEC has reiterated on many occasions that digital assets that have characteristics of a security should not be traded on a digital asset exchange
In August 2017, when the development of ICO was at its peak, the SEC issued an investor bulletin “Investor Bulletin: Initial Coin Offerings” on its website and published an investigation report of the DAO. It determined that the DAO tokens were considered ‘marketable securities’, stressing that all digital assets considered ‘marketable securities’ would be incorporated into the SEC regulatory system, bound by the U.S. federal securities law. Soon after, the SEC also declared and stressed that “(if) a platform offers trading of digital assets that are securities and operates as an “exchange,” as defined by the federal securities laws, then the platform must register with the SEC as a national securities exchange or be exempt from registration.”
On 16 November 2018, the SEC issued a “Statement on Digital Asset Securities Issuance and Trading,” in which the SEC used five real case studies to conduct exemplary penalty rulings on the initial offers and sales of digital asset securities, including those issued in ICOs, relevant cryptocurrency exchanges, investment management tools, ICO platforms and so on. The statement further reiterates that exchanges cannot provide trading services for digital assets that have characteristics of a security.
On 3 April 2019, the SEC issued the “Framework for ‘Investment Contract’ Analysis of Digital Assets” to further elucidate the evaluation criteria for determining whether a digital asset is a security and providing guiding opinions on the compliance of the issuance, sales, holding procedures of digital assets.
As of now, only a small number of digital assets, such as BTC, ETH, etc. meet the SEC’s requirement of “non-securities assets.” The potentially “compliant” digital assets are less than 20.
Early in March 2014, the Inland Revenue Service (IRS) has stated that Bitcoin will be treated as a legal property and will be subject to taxes. In September 2015, the U.S. Commodity Futures Trading Commission (CFTC) stated that Bitcoin is a commodity and will be treated as a “property” by the IRS for tax purposes.
On 15 June 2018, William Hinman, Director of the Corporate Finance Division of the SEC, said at the Cryptocurrency Summit held in San Francisco that BTC and ETH are not securities. Nevertheless, many ICO tokens fall under the securities category.
So far, only BTC and ETH have received approval and recognition of the U.S. regulatory authority as a “non-securities asset.”
Since July 2018, the SEC has investigated more than ten types of digital assets, one after another, and ruled that they were securities and had to be incorporated into the SEC regulatory system. It prosecuted and punished those who had contravened the issuance and trading requirements of the securities laws.
Although there are still many digital assets that have yet to be characterised as “securities”, it is extremely difficult to be characterised as a “non-securities asset” based on the evaluation criteria announced by the SEC. As the SEC’s spokesperson has reiterated many times, they believe the majority of ICO tokens are securities.
Under the stipulated requirements of the SEC, Coinbase, a leading U.S. exchange, has withdrawn a batch of digital assets. The assets withdrawn included digital assets that had been characterised as “securities” as well as those that have high risks of being characterised as “securities.” However, it is worth noting that although the risk to be characterised as “securities” for more than ten types of digital assets, which have not been explicitly required by SEC to be withdrawn, is relatively small, they are not entirely safe. With the further escalation of the SEC’s investigations, they could still be characterised as securities and be held accountable for violating their responsibilities. However, this requires further guidance from the SEC.
*Coinbase’s 14 types of digital assets that have yet to be requested for withdrawal
Poloniex announced on 16 May that it would stop providing services for nine digital assets, including Ardor (ARDR), Bytecoin (BCN), etc. under the compliance guidelines of the SEC. On 7 June, Bittrex also announced that it would stop providing trading services to U.S. users for 32 digital assets. The action of the SEC on its regulatory guidance was further reinforced apparently.
In fact, it is not the first time that these two exchanges have withdrawn digital assets under regulatory requirements. Since the rapid development of digital assets driven by ICO in 2017, Poloniex and Bittrex were once leading exchanges for ICO tokens, providing comprehensive trading services for digital assets. However, after the SEC reiterated its compliance requirements, Poloniex and Bittrex have withdrawn a considerable amount of assets in the past year to meet the compliance requirements.
In conclusion, the takeaways that we have got are as follows: Under the existing U.S. regulatory requirements of digital assets, after obtaining the basic entry licences (MSB, MTL), exchanges could either choose the “compliant asset” solution of Coinbase and only list a small number of digital assets that do not have apparent characteristics of a security, and at all times prepare to withdraw any asset later characterised as “securities” by the SECs; or choose to be like OKEx and Huobi and make it clear they would “not provide services to any U.S. users” at the start.
Binance has been providing a large number of digital assets that have characteristics of a security to U.S users without a U.S. securities exchange licence, so it has already contravened the SEC regulatory requirements.
On top of that, it is also worth noting that the rapid development of Binance has been achieved precisely through the behaviours of “contrary to regulations” and “committing crimes.” Amid the blocking of several pioneering exchanges, such as OKCoin, Huobi, etc. providing services to Chinese users in the Chinese market under new laws from the regulatory authorities, Binance leapfrogged the competition and began to dominate the Chinese market. Similarly, Binance’s rapid growth in the U.S. market is mainly due to its domination of the traffic of digital assets withdrawn by Poloniex and Bittrex. One can say that Binance not only has weak awareness of compliance issues, but it is also indeed “playing with fire” with the U.S. regulators.
In April 2018, the New York State Office of Attorney General (OAG) requested 13 digital asset exchanges, including Binance, to prepare for investigations, indicating it would initiate an investigation in relations to company ownership, leadership, operating conditions, service terms, trading volume, relationships with financial institutions, etc. Many exchanges, including Gemini, Bittrex, Poloniex, BitFlyer, Bitfinex, and so on, proactively acknowledged and replied in the first instance upon receipt of the investigation notice. However, Binance had hardly any action.
Binance has been illegally operating in the U.S. for almost two years. It has not yet fulfilled the FinCEN and MSB registration requirements. Moreover, it has also neglected the SEC announcements and OAG investigation summons on several occasions. The ultimate announcement of exiting the U.S. market may be due to the tremendous pressure imposed by the U.S. regulators.
In fact, the SEC executives have recently stressed that “exchanges of IEO in the U.S. market are facing legal risks and the SEC would soon crack down on these illegal activities” on numerous occasions. These were clear indications of imposing pressure on Binance.
Regarding the SEC’s rulings on illegal digital asset exchanges, EtherDelta and investment management platform, Crypto Asset Management, it may not be easy for Binance to “fully exit” from the U.S. market. It may be faced with a hefty penalty. Once there are any compensation claims by the U.S. users for losses incurred in the trading of assets at Binance, it would be dragged into a difficult compensation dilemma. It would undoubtedly be a double blow for Binance that has just been held accountable for the losses incurred in a theft of 7,000 BTC.
Coincidentally, Binance was tossed out of Japan because of compliance issues. In March 2018, the Financial Services Agency of Japan officially issued a stern warning to Binance, which was boldly providing services to Japanese users without registering for a digital asset exchange licence in Japan. Binance was forced to relocate to Malta instead. Binance may have to bear hefty penalties arising from challenging the compliance requirements after it had lost important markets due to consecutive compliance issues.
The rise of Binance was attributed to its bold and valiant style, grasping the opportunity created in the vacuum period of government regulation, breaking compliance requirements and rapidly dominating the market to obtain user traffic. For a while, it gained considerable advantages in the early, barbaric growth stage of the industry. Nonetheless, under the increasingly comprehensive regulatory compliance system for global digital asset markets, Binance, which has constantly been “evading regulation” and “resisting supervision” would undoubtedly face enormous survival challenges, notwithstanding that it would lose far more than 50 per cent of the market share.
https://www.asiacryptotoday.com/playing-with-fire-with-fincen-and-sec-binance-may-face-a-hefty-penalty-again-after-already-losing-50-percent-of-its-trading-business/
submitted by Fun_Judgment to CryptoCurrencyTrading [link] [comments]

Wealth Formula Episode 187: Ask Buck Part: Part One

Catch the full episode: https://www.wealthformula.com/podcast/187-ask-buck-part-part-one/
Buck: Welcome back to the show everyone and let's get on with the Ask Buck component of today's show. As a reminder this is part one of two. The next one will be airing next week, but we have lots of questions. I want to make sure we give adequate time and yet not bore the lights out of you by making this into a two-hour show. So the first question from Jeffrey Cattell. Jeffrey asked, hey Buck I had a question about investing with an LLC and mortgages. I had heard that purchasing rental properties inside an LLC limits you to getting a commercial mortgage. Can you discuss the differences between commercial and conventional mortgages and how buying within an LLC affects your options.
Yes I can certainly give it a try and of course remember I am not an attorney and I am not an adviser these are my opinions and there are things that I've done etc so don't hold me to it, I'm just giving you my perspective. So let me start out by reminding you a little bit about you know the different kinds of mortgages and they're kind of obvious right I mean there are two really two kinds of mortgages there's two residential there's a commercial mortgage. Now residential mortgages I mean that's the kind that you get for your house that's the kind that you might get for a 1 to 4 unit house or duplex or triplex or quad but you can get a second or third mortgage etc but those are all considered residential mortgages. Pricing is obviously best when it's the first one and it's your primary home but these other residential mortgages that you get as a second or third etc are generally favorable in terms of pricing and amortization and all that stuff as well. Now if your property is already owned by an entity such as an LLC or you're buying it in the name of an LLC by definition you are no longer in the residential category because you're declaring to everybody in the world that this is an investment property in which case you must obtain a commercial mortgage which the major difference between the two frankly is just that the commercial mortgages are more expensive and have less favorable terms than residential ones. So how can you potentially get around this okay. So I let me give you an example and again this is not advice but I'm gonna talk about experience and the experience of others around me so I've had a couple of houses that I own in Chicago one of them that I lived in for a few years and now I rent them all. I bought those houses in my name and therefore at the time we got mortgages and the mortgages are in my name, my wife and my name in this case, but after they were purchased in personal name and mortgages were issued, I then transferred them over especially after obviously when I moved down and I rented the place out into an LLC. So they are now deeded to an entity each shows actually deeded to a separate entity. The process that used to do this is called a quitclaim deed. So if you want to ask your attorney about doing something like this is called a quitclaim deed. Now theoretically and I emphasize the theoretical here if you do this your mortgage could be called. Why? Because in your mortgage usually it's gonna tell you you you know you you know this is a mortgage on you and that if you make these kinds of changes you gotta let them know. In practice though what I have found and this is the part where I keep emphasizing I am not giving you advice is that everyone does this right everyone does a quitclaim deed everyone does it. My dad has been doing this for 50 years and has never had a problem. I'm doing it now and these are major banks they even know about it they don't seem to care. Anyway as long as the mortgage gets paid it seems like no one cares. So bottom line is what most people do what I've done for these smaller properties, buy them in your own name quitclaim deed, so you can't but in your own name get the good better mortgage and then quitclaim. Am I advising you to do that? No. I'm not advising you on anything just what I do what I've done what my dad's done and a lot of people I know have done. Okay all right so that is the first question. Now I'm going to move over to an audio question because some of you weren't chicken. Just kidding I'm kidding about that but audio questions are fun they're fun to hear from people so let's see the so I got have a question here from Garth. Okay Garth here we go.
Garth: Hello Dr. Joffrey this is Garth in Portland Oregon. I understand the definition of accredited investor which I am not one but I've also heard a term sophisticated investor and I'm wondering if that is different than accredited investor and if so what do I need to do to get that title? Thanks.
Buck: Thanks for the question Garth. So the question really is what is a sophisticated investor? Well first of all why does this matter in the first place it's all accredited sophisticated stuff? Well the answer that, for private placements in real estate a certain kind of offering is frequently used called a Regulation D offering, it's the typical structure. Regulation D, a Regulation D offering allows you to move forward with a private offering without pushing it through the SEC for formal classification as the security. Now why would you not want to file with the SEC? Well there's two reasons really cost in time, it's expensive. But the bigger issue in terms of real estate is a very practical one it's the element of time. So if you're doing an SEC filing and you know on an offering it's gonna take you at least a year to get that through the SEC and contrast that with the fact that when you get a building under contract and you know one of the properties that we do an investor club for example, usually you got some under contract you raise capital you close the building and all that it's happening within three months, so you only usually have a very short period of time, you don't have time to send that to the SEC and let them mess around with it. And the SEC in reality knows this so this is not a new new thing this regulation D, it's been around forever you know but so they provide this as an exception to the rule they say if you're not going to file with the SEC you can still do this legally but it has to be under this kind of exemption Reg D and these are limited, these will be limited to investors that are either accredited which we've talked about before, you make $200,000 a year for two years with a reasonable expectation of doing it again the next year, $300,000 if filing jointly and/or a net worth of $1,000,000 outside of your personal residence. That is an accredited investor. What's a sophisticated investor? Well that's the problem right? So that's that's not very clear, it's not very clear at all and it's a little nebulous and when it's not clear frankly often that becomes the area of abuse. There's no clear definition of a sophisticated investor. Sophisticated investors are supposed to be financially savvy. They're supposed to have experience and knowledge and acumen that makes them more qualified to make decisions about these types of more sophisticated investments than your average Joe. But the problem is that it's essentially up to the fundraiser to determine if an individual is sophisticated or not. Now I have seen situations where people join say a real estate gurus organization and immediately upon paying for the course they are somehow deemed sophisticated and start investing in other students deals within that ecosystem, a bit shady if you ask me but it is what it is. Now that's not to suggest that you in particular are not sophisticated because if you're listening to this show there's a very good chance you are sophisticated, you may you know just understand the language well and you may understand real estate well you may own a bunch of real estate and you want to invest passively in a real estate syndication and in those cases you might be sophisticated, you know. I mean it is a little bit random because you know I run into people who are making you know doctors who are making five hundred thousand dollars a year but they've only made it for eighteen months and so therefore they're not accredited, right? So then you have to make some judgment calls but anyway bottom line is sophisticated is subjective but I think the biggest problem for this terminology is that there really is no safe harbor in my opinion at least that makes it really really difficult to deal with from the side of the operator and therefore in our group in general for investor club it's very rare when we will you know not require the true accredited definition and the reality is most major syndicators won't even consider sophisticated investors who are not accredited for this reason, it just becomes one of those situations you don't want to put yourself in trouble. Okay so let's go to the next question or a couple questions from the same individual so that's fine too, okay from Ron.
Ron: I have a question about Bitcoin. Where do the new bitcoins come from in short I know we are accurate we have and they create blocks in those blocks we store transactions and the miners get a fee for building a block that's 12 Bitcoin I believe so are those 12 bitcoins also getting into relation we'll end up with those 21 million bitcoins in the end or is there something else? So that's my question can you help me with that. Thank you.
Buck: Sure Ron pretty straightforward I mean without getting into too much technical the new Bitcoin you mentioned you know the whole mining basically the new Bitcoin come from doing the mathematical work to solve these complex mathematical problems that's what these supercomputers do those are the miners and then there's a competition whoever gets the answer first as you mentioned gets rewarded with this fee, they get rewarded with Bitcoin and that's weird those Bitcoin are actually generated so that's what it means to mine Bitcoin and you're also right they'll never be more than 21 million Bitcoin you know so that's one of the true values of Bitcoin is that it is a finite thing there’ll never be more than 21 million so the fact that some go out of circulation to get lost etc it's deflationary in that regard. The last thing I guess I would point out is you know what happens after mining is complete with 21 million well basically miners get paid for exchanges transfers etc at that point but it'll be interesting to see how that all turns out at that point. All right I think Ron has another question here and I think it's related.
Ron: Hello there Buck. Ron again here with a question, a what-if scenario. What if my thousand dollar worth of Bitcoin explodes and all of a sudden it's 1 million and I started with storing it on my Ledger Nano S. Is that still a good way to go when it's about a million or maybe 10 million or do I need to have some other methods in place due to spread risks or to be safe? Please let me know. Thank you. Bye bye.
Buck: Alright well a good question you know what Ron is talking about is the Ledger Nano S which is a hardware wallet it basically is something that's stored offline. Now listen that's what makes it so resistant to you know any kind of hacking right so you're not it's you're not online if you're not online no one can get to you, you know a hacker and Russia can't get to you, you know. But so if you suddenly end up with a million dollars of Bitcoin or more the reality is that in terms of the ledger it's just as bulletproof as before. I think the issue becomes when people have you know when they get like several million dollars a Bitcoin or Bitcoin million you know multi millionaires and billionaires or whatever then you know I may become a little nerve-racking just to have this little ledger around here right you may want to have you might want to have a little bit more protection than that in which case you might consider some kind of a custodian service like Gemini etc, but that's you know that's not necessary because one of the things about Bitcoin one of the appeals is that itself the ability to self custodian this stuff right you don't need a bank for this. And so I guarantee you that people are walking around with millions of dollars on their ledgers. Now I will point out that you know Ledger Nano S is just one Hardware wallet and you can get a lot more sophisticated and complicated type things you can even get a like a multi signature wallet Hardware wallet would that would require you know multiple people's keys in order to get to the cryptocurrency which you know I mean if you end up with a ton of money in crypto currency that's you know that's probably something that you might want to do. Okay next question from John Jillette.
Hi Buck love your podcast been extremely helpful in increasing my financial intelligence. There's been talk about impending financial crisis from well-known economist Dent, Rickards and Schiff. What do you believe in the percentage chance that we go into a 2008 like financial crisis in the next couple years? Also as the recession is always coming how much dry powder do you recommend having at this point in the cycle scoop up deals when there's “blood in the streets”? Good question John the problem in my view with those guys that you talked about Harry Dent, Jim Rickards, Peter Schiff all super smart guys right and Harry Dent was on the show recently, is that they've all been predicting the same darn thing for at least four or five years now, right? I mean and it hasn't happened and when there is some sort of pull back because as you said there's always gonna be a recession at some point why is it after you blood in the street, you know? The bottom line is that you know Harry Dent in our last show even said you know I said dude it's hard to predict when right yeah it's hard to predict one I absolutely admit that. So what do you do then because let me give you an example of the counter risk to this whole you know this whole world of fear-mongering, and I'm not saying those guys are just doing that on purpose for that reason, I mean I do think that you know if your whole thing is like the world is coming to an end and you need to buy gold and your major business is selling gold then you know it's a little bit hard to swallow sometimes but let me give you an example of what could happen. So six years ago because you know I said before that Peter and you know all these guys have been talking about for five years at least about how you know everything's going to hell. Six years ago there was a company that we work with now called Western Wealth Capital and Investor Club and they have an investor who has put in twenty five thousand dollars and every deal for the last six years and they have a really unique model of people within our group know a lot about it. The total of seven hundred fifty thousand dollars was invested out-of-pocket during that period of time but the principle is now worth four million dollars. Now those are pretty exceptional numbers right that comes out to you know an annualized return of about a hundred percent and I'm not saying that that is you know what's going to happen in the future, but what I would skew to consider is what if we'd been listening to that advice for five years now? If this person had done that would they have done well? Okay well obviously not because you know if you stopped investing because of because of fear then you didn't make any money. Is it a guarantee that they would have lost money? Absolutely not. I mean listen these deals are really solid they go in there and they start to de-risk these things right away by driving up net operating income and maybe you know maybe wouldn’t have made as much money, but would it have lost a bunch of money? Well personally I just don't I don't think so. Now listen I'm not saying there will not be a recession. As I said eventually there will be. The problem is that we cannot time it and we cannot really quantify the magnitude. As much as people would love to talk about this blood and the street thing I mean the major mainstream economists and ITR Economics who I like don't think it's gonna be that big, they think it's gonna be stuck to the manufacturing and industrial sectors. So what do we do? So what do I do? I should say that I stick to quality assets and quality areas, I create value the moment you know that and then we create value in those assets the moment we acquire them, right? So that helps that whole value add concepts helps de-risk any project by dynamically decompressing cap rates. So think about it you you know you you buy something at a certain cap rate all the sudden you're driving in net operating income and you dynamically decompress your cap rates you have a better margin over your debt burden your risk is significantly lowered and if you can get all of your money out of the deal with a refinance all of your risk is gone okay. So now if there is a downturn and you're in one of these things you want to be in a position where you can ride out the storm with assets you already own and then, and then, this is the important part, lean into the downturn right lots of people freeze up when things go south or but the right thing to do is to be greedy when others are scared. So by continuing to deploy on a regular basis my personal belief is that you can volume average your way through a downturn and get capital preservation and then hopefully pick up some really cheap assets, ride them back up and hopefully it you know you end up in really good shape. That's my own approach to this. I'm not sitting around waiting for zombies to you know erupt out of the ground and start you know only accepting silver dollars, you know from a monster box. I'm just that's just not I just don't see it. As for the current financial climate I'd say the banks are, and I think again most economists would tell you that the banks are in a lot better shape than they were in 2008. I don't think that there's necessarily anything that looks like 2008. I think GDP has grown at a record for a record length of time it's been sluggish but on the other hand you know so in other words there will be some kind of recession eventually but why does it need to be blood in the streets? See we have to remember that before 2008 there was such thing as a recession that you just hear about like three months after it happened right it doesn't always have to be cataclysmic. Now you know talking about these guys you know Peter Schiff himself talks about you know the nature of this crisis that he sees happening and what he describes it as, is a dollar crisis. And if it's a dollar crisis what that means is it's gonna result in inflation. Now inflation is good for real estate. Conversely you've got Harry Dent who's talking about a deflationary recession which I have a harder time believing because of how it affects our own ability to pay you know Treasury holders, US Treasury holders, but you know even Harry thinks in his scenario that well you might as well you know own multifamily real estate because the demographics would suggest that that would be a safe place to be now Harry's a demographics guy. Now listen who knows what'll really happen just because Harry said that and Peter said that and I said this it could be completely something different, but if you do nothing and keep all your money in a bank you're guaranteed to lose money with inflation in my opinion because again I don't think it's gonna be deflationary I've been over that before. And as for dry powder it’s always good to have some obviously right I mean it's always good to have some, so it's hard to quantify how much. The way I have done it is I use as you may know I'm sure you know by now I am an advocate for Wealth Formula Banking because I like the option of you know being able to borrow etc. now for this purpose I use Wealth Formula Banking because it's it's sort of a source of liquidity for me that I can access very quickly that it's out of the banking system but how much dry powder I keep, generally relies on my contribution to the Wealth Formula Banking policy every year. So it's one of the things that sort of keeps me honest right I have to put a certain amount every year in there all the way up to the paid up perdition's and so that's basically circulating as my you know almost like a bond portfolio of liquidity in case I need it, so that's how I do it. But that being said, I'm also in a situation where I am very incentivized to invest rather than to keep my money around or invest in anything that's not real estate so I probably could do a better job with keeping a little bit more dry powder around. Anyway right now, so Wealth Formula Banking that's where my dry powder is and like I said that's where it keeps me disciplined, but I do not have a crystal ball and I don't really I'd really don't foresee myself anything horrible happening so I mean if I did if I was sure of it I'd probably I'm sure I would just you know have a bunch of money sitting around but I don't see any serious indication of that frankly. You know and I should point out I saw today you know Ray Dalio came out and said even about the stock market that he's bullish still right on the stock market, right? I'm not saying I'm bullish on the stock market but the point is there's some still some big names not really like hiding out in shorting markets at this point. So anyway I don't know that I even came close to answering your question but I talked a lot so let's see here. Next question Jason got an audio question.
Jason: Buck, this is Jason Beck from The Rock Arkansas. Wanted to see if you had come across any good ways to utilize raw land investments for a tax-advantaged purpose. I've got some land that is timber and some more land that is pasture that we keep some horses on. I want to see if you had seen anybody utilize either various schedules on their tax returns or creation of entities to try to gain some tax advantage from those type of investments?
Buck: Yeah the big one that comes to mind Jason is conservation easements. Now you know as soon as I say that a lot of people think oh that's that one thing that's kind of like that the IRS hates and they write articles about to try to scare people off of them and that's actually not totally the case the thing that IRS really hates are the syndicated conservation easements even those you know they're totally lawful but what I'm talking about is conservation easements on your own land which really are not controversial for the most part at all. So basically here's how that works okay. Effectively what you do in a conservation easement is you commit your land you still keep it you don't give it but you're giving up certain rights, you remember like yeah if you do any kind of real estate you know there's land rights there's ground rights all that kind of stuff. Anyway, in this case you're giving up the right to develop the land and or or in some cases if it's a mining situation, giving up the right to drill on the land. And if you do that what's interesting is that and what's powerful is that you can if you’ve done it appropriately get a valuation on your lands maximum value if it were to be used for that other purpose. Well let's give a give you an example so it's not so nebulous in other words say the alternative of keeping your horse pasture land was to build a multi-million dollar resort and you had all the plans you had architectural drawings etc. In that case you could theoretically get a valuation of how much that resort would be valued at and take the deduction for the amount of the valuation that you got instead of the value that your land currently has. So as you can imagine that could be an enormous potential tax benefit and so I would probably look into that for sure there's some very famous people who use that, Ted Turner CNN that's why he's got so many Buffalo, people say Donald Trump that's one of the reasons why he has so many golf courses but of course we don't see his tax return so we don't know that for sure. Anyway I know the guy you should speak with and I have already sent you a connection via email.
Okay next question when evaluating a private placement opportunity I should say I don't I for some reason I don't have a name on this one so I apologize, but when evaluating a private placement opportunity, how important is it to you that the general partner has their own personal money invested in the deal? Well the answer is it depends okay. Let's take Ken McElroy for example let's take Western Wealth Capital and those guys for example Ken's be a better example because Western Wealth Capital I know got a couple of million dollars in every deal but let's take Ken. In the past you know where he was I've invested in as a limited partner in companies deals where you know I neither Ken was putting any money in and does that bother me not really. Why? Well listen I know Ken's model and he doesn't really get rewarded unless the asset performs. I also know Ken personally and know that he works hard, has a lot of integrity and takes pride in his work. He's got a tremendous track record and I also know that it takes a lot of work to do what he does, so not getting rewarded financially until the you know property starts to really perform the way he pro formas it out is a type of sweat equity because what you're talking about ultimately is skin in the game. Does the operator have skin in the game? And the question really I think is better termed you know does the operator have skin in the game? Because the skin in the game can also come in the form of sweat equity. Now if Ken in his case doesn't get paid unless investors get paid, I would definitely consider that skin in the game knowing how much work that is. Now the problem these days in my opinion is that there is you know there's everybody and their mother is a syndicator. And you know what I'm talking about right? So you've got all these people I was in here, I'm a full-time software engineer we're 50 hours a week and oh yeah and I just went to a guru course and I'm you know I'm taking down a twenty five million dollar asset would you like to join me? Those people are everywhere now and in those kinds of deals personally I would never invest anyway. However, if you do you should demand heavy skin in the game through cash why because you don't you know you don't know what they're gonna do, they don’t have a huge track record, they've got full-time jobs this isn't just about plugging in a property manager and taking your cut that's BS you know but honestly I would stay away from those deals all together personally you don't want to be part of someone's learning curve.
All right let's see next question I have this via email here, I'm gonna read it. Okay so the next question is from Kenny. Kenny French is asking he says hi Buck I'm a podcast listener and Western Wealth Capital investor as well. I'm currently working with Rod Zabriskie to set up Wealth Formula Banking life insurance policy. So far everything has been going pretty smoothly with one exception. One of the features that I really like about the life insurance policy is it offers a way to have money grow that is protected from creditors and it really gives me a peace of mind to know that I will have a good chunk of money set aside for my family that can't or at least is very difficult for creditors or anyone else to touch. In looking how to hold that policy in a trust LLC personally etc I found out that California, where I live, that's where I live too, has terrible protections for life insurance policies. They only exempt a very small amount less than $20,000 presumably of cash values what we're talking about there, but from the little bit of research I did it looks like a Nevada trust may be the way to go, either way I think this would make for a good podcast topic to do a bit of a dive into so that's why I'm reading that and I got Kenny's okay to do this. So I thought was a good question. So what I did is I actually ran this by Doug Lodmell of Lodmell and Lodmell. Doug is of course my asset protection attorney, very smart guy, all-around good guy. I also want to put a plug in for him if you go to wealthformula.com and you go to there's basically some where you can click there and Doug did this really good webinar on asset protection from sort of the very basic to the more complex and he's just really really good so I would highly recommend you consider using him if any of this stuff is relevant to you. So here's the deal, and here's effectively the answer I've got from Doug: life insurance in many states is already a protected asset, so part of the issue is you got to check in your own state like Kenny did, as in some states like Kenny he's talking about California life insurance turns into pretty much just like an asset like any other asset and it has to be put into an asset protected vehicle. But because it is life insurance, there is an additional consideration of what happens when the policy pays out and how that affects the estate and for that reason there's also an additional choice which is an ILIT which stands for irrevocable life insurance trust. So the issue is that life insurance obviously has a death benefit which could impact the size of your estate and this must be a primary driver for where you hold it. If the death benefit will create or increase in estate tax, then the policy should be held by either an ILIT or another type of gift type trust like a dynasty trust. If the death benefit will not affect the estate tax because the total estate is below the exemption then I would suggest using an asset protection trust asset protection structure to hold the insurance if you are not in a state with good protections. He says it also matters if the insured is using life insurance as a savings vehicle and will need it for their retirement, as often we do with these kinds of things. If so then it is better in an asset protection plan. So I know that was a lot. So first of all if you know you're one of these if you have one of these plans I mean Kenny brings up a very good point you you sure look into this if you're looking for the asset protection component of this too. A few thoughts here okay, first of all you know the first thing to do is check your state and see what kind of protections you have. Next you know the ILIT is certainly an option right I mean it's it's just it's not very expensive it is a couple thousand dollars and you can use that, the problem with that it's difficult to to borrow out of. The next thing to consider is okay how big is that life insurance policy right? If it's three four million bucks, may not be a big deal especially if the rest of your estate is sitting outside of your estate or you've got a plan to have it outside of your estate then you can still figure out you know how to keep you know your estate stuff below you know whatever I think it's probably gonna sunset down to five and a half million or something like that for estate taxes. So in that regard, it seems to me that the smart thing to do would be to use like an asset protection trust which is you know certainly an option that that Doug can help you with, and frankly the nice thing about that is that you know you've got the protection from the creditors and it's still available for retirement. Now if you've got a great big you know death benefit on there, the next step really and actually this step that I've got is a dynasty trust, that was a Nevada dynasty trust and I've got one of those. In that situation though you are getting a trustee involved so you're not directly controlling it. Now I can tell you from personal experience that it's actually relatively not that difficult, you know to work with the trustee, but it does make it a little bit more difficult you know to get the cash available for the insured to use so that's the one thing to consider. Now Doug makes the point that you can also in some situations take an asset protection trust that automatically converts to a dynasty trust at death so then it's really the most flexible tool for most people so that might be the way to go. I think based on what I'm hearing and that's actually different from what I did but you know it was before I met Doug but I might have done like an asset protection trust that converted into a dynasty trust later that might have been what I would have done. Anyway complicated question complicated answer and that's kind of where I'll leave it because I've got a little headache from that last one at this point. So that's it for this week and that is just like half the questions we've got. We've been going on for a while. So that's it for me this week on Wealth Formula Podcast for Ask Buck Part One and we'll be back next week with part two.
submitted by Buck_Joffrey to u/Buck_Joffrey [link] [comments]

Bitcoin  LIVE from the NYPL Los Angeles Bitcoin Meetup - January 2014 THE TERRIFYING BITCOIN CHART NO ONE WANTS TO SEE - BTC/CRYPTOCURRENCY TRADING ANALYSIS Altcoin and Bitcoin Trading - YouTube 90% of traders lose money... So how to be in the top 10% ...

Bitcoin, along with the wider cryptocurrency market, has crashed—dashing hopes the digital token had begun performing as a so-called safe haven asset. The bitcoin price is down some 10% over the ... California Engineer Loses $422,000 in Life Savings after Using QuadrigaCX; Is Help Coming?A customer of Canadian crypto exchange QuadrigaCX lost his life savings after using the platform for a remittance transfer between his bank accounts after moving to Canada. Source: ShutterstockA California-based engineer lost the entirety of his life… Japanese TV footage showed a small group of customers standing outside the company’s Tokyo head office Friday night. Coincheck, which calls itself the leading Bitcoin and cryptocurrency exchange in Asia, said it detected the unauthorized access to its system about 3 a.m. Friday. The reported loss tops the 48 billion yen that Mt. Gox, a Japan-based Bitcoin exchange, lost in 2014. You May Like ... It's only taken four years but early Bitcoin investors who put their money in Mt. Gox may at last be about to get some of their coins back. The Japan-based cryptocurrency exchange, which at one ... Bitcoin Owner Loses All His BTC To Phishing Scam, Crypto Community Sends Donation . By Vincent Mislos 06/14/20 AT 10:30 PM. KEY POINTS. Eric Savics lost 12 BTC, his entire Bitcoin savings, in a ...

[index] [36488] [38724] [46875] [5461] [22047] [31760] [34268] [40517] [26128] [26395]

Bitcoin LIVE from the NYPL

This market trading analysis applies to various exchanges, including Bitmex and Binance. Tackling questions like if Bitcoin can reach 20k again and if we wil... Close. This video is unavailable. Bonus Features: http://www.hiddensecretsofmoney.com Today, mankind stands at a crossroads, and the path that humanity chooses may have a greater impact on ou... WATCH LIVE DAILY: https://ivanontech.com/live 🚀 SIGN UP FOR ACADEMY: https://academy.ivanontech.com ️ BEST DEALS: https://ivanontech.com/deals SIGN UP F... A major payroll problem is affecting thousands of people across the country, including those in Northern California. New York-based payroll company MyPayroll...

#