Good morning.
Billionaires with most of their wealth tied up in a stock are often able to simply borrow against their holdings. This avoids having to pay taxes on unrealized gains, and provides millions of dollars in “walking around” money while still profiting if those shares rise in value. It takes a lot to get a billionaire to sell a meaningful amount of their shares.
But that’s the offer made by Tesla Motors (TSLA) CEO Elon Musk over the weekend. He offered to sell $6 billion in shares and give it to the UN’s World Food Program. The catch? The agency would have to detail exactly how that money would be spent to end world hunger, rather than simply indefinitely continue operations as so many agencies created to combat a problem often do.
Anyone betting that Musk will have a tax bill on a $6 billion share sale anytime soon just doesn’t understand how these agencies operate.
Now here’s the rest of the news:
November 02, 2020
Good morning.
October once again proved to be a challenging month for stocks. For 2020, it came in second to March. The final drop came as many big-name tech companies reported good earnings. Great earnings would have been better. And it also didn’t help that many of these companies can’t offer much in the way of guidance in these uncertain times.
Many traders see that trend continuing. While the election is tomorrow, a few pundits are pointing to contested elections that may drag out the final results for weeks. That uncertainty could add additional volatility to stocks until it’s resolved. Don’t worry, though. Markets always find something to worry about. So once the election uncertainty ends, it’ll be something else. Today’s fear-based moves, however, are enough to make one wish for the China trade war volatility of 2019.
Now here’s the rest of the news:
Since making new highs this September, the Dow is down roughly 10% – just a day before the election. And if the election is contested … the market could be in turmoil for weeks, maybe even months.
Do the best you can to make hay while the sun is shining. But be aware that the storm clouds that are building right now are the most serious our ‘country’ has ever seen.
November 02, 2019
We usually like a challenge … a puzzle … and DarrenDaily provides us with one today!
Good or Great! 😉
