cohibasurfer
one day older than dirt
My Proposal of operation
Gentlemen,
Since this was put together on the fly so to speak. I thought I'd throw together some parameters for our endeavor.
Our initial capital will be $1000.00
This will intially divided into shares of $40 increments.
Each increment will be noted as 1 voting share.
Once you are in you cannot request a withdrawl
This fund will be operated as a majority rule democracy
At the time the Fund enters into the market, the shares will then be dictated by the profit and loss of the stock market.
The cash pool and stock(s) dollar value at the close of the stock market when added together will represent the total of the fund
Each shares will then be defined by 1/25 of the fund.
The Internet Broker account will be TDAmeritrade.
All commissions, fees and taxes will be be divided up by the share proportion defined above.
These will be docrined by TDAmeritrade policy
This fund is being established with the purpose of advancing the dollar value to procure cigars to be distributed amongst the share holders
Each share holder should be aware of the possibility of partial to entire loss of dollar value
Any share holder can sell trade or give their shares to any takers to remove themselves from the fund, any persons aquiring said shares will be subject to actual value, not claimed value by the seller, giver or trader.
If anyone can think of anything that should be added to keep confusion and termoil down. Please LMK.
The cost of trading will be 9.99 after NOVEMBER 16th or if TDA interupts my free trades before then. That means 9.99 to buy each stock, and 9.99 to sell each stock. I'm not entirely sure of the taxes for short term capital gains. I will give them a call to get the run down.
I propose that we keep the number of different stocks to a minimum do to the costs of trades. Having a bundle of penny stocks could eat up profits to buy cigars with. I personaly think we should max out with 3. I also think we should be ready to wait for profit of at least 50% of the investment before take them. That way it will be worth the trade fee and the taxes to buy decent cigars to divy up. Our goal should be to leave at least the original capital for a chance to make the fund a workable pay off endlessly (LOL yeah right.. shoot for the moon!).
Now we can jump in and out of stock for the first couple of weeks without worrying about the commisions. But we will not be able to buy and sell the same stock or sell and buy the same stock (short selling) in the same day. The account would have to be funded with 25,000 and we aren't close. We also need to keep the stock buys and sells in the 100 share increments for transaction ease.
We will be voting on the fund name Tuesday! So please nominate your entry(s) Will someone set up a poll to use as the register?
In the interim, please get any stock picks posted so those that want to vote on them have a chance to go look at them and do some homework. Yahoo has a nice symbol lookup quote as does google Also watch the mad man of mad money Jim Cramer on CNBC. He gives good ideas to look at in diferent sectors.
Remember I'm west coast, but you can call me anytime for questions or just to meet voice to voice. If for some reason I am screening my calls, leave your name and cigarpass handle and I will call you back. Well except Double D your in Germany... you call me.
Gentlemen,
Since this was put together on the fly so to speak. I thought I'd throw together some parameters for our endeavor.
Our initial capital will be $1000.00
This will intially divided into shares of $40 increments.
Each increment will be noted as 1 voting share.
Once you are in you cannot request a withdrawl
This fund will be operated as a majority rule democracy
At the time the Fund enters into the market, the shares will then be dictated by the profit and loss of the stock market.
The cash pool and stock(s) dollar value at the close of the stock market when added together will represent the total of the fund
Each shares will then be defined by 1/25 of the fund.
The Internet Broker account will be TDAmeritrade.
All commissions, fees and taxes will be be divided up by the share proportion defined above.
These will be docrined by TDAmeritrade policy
This fund is being established with the purpose of advancing the dollar value to procure cigars to be distributed amongst the share holders
Each share holder should be aware of the possibility of partial to entire loss of dollar value
Any share holder can sell trade or give their shares to any takers to remove themselves from the fund, any persons aquiring said shares will be subject to actual value, not claimed value by the seller, giver or trader.
If anyone can think of anything that should be added to keep confusion and termoil down. Please LMK.
The cost of trading will be 9.99 after NOVEMBER 16th or if TDA interupts my free trades before then. That means 9.99 to buy each stock, and 9.99 to sell each stock. I'm not entirely sure of the taxes for short term capital gains. I will give them a call to get the run down.
I propose that we keep the number of different stocks to a minimum do to the costs of trades. Having a bundle of penny stocks could eat up profits to buy cigars with. I personaly think we should max out with 3. I also think we should be ready to wait for profit of at least 50% of the investment before take them. That way it will be worth the trade fee and the taxes to buy decent cigars to divy up. Our goal should be to leave at least the original capital for a chance to make the fund a workable pay off endlessly (LOL yeah right.. shoot for the moon!).
Now we can jump in and out of stock for the first couple of weeks without worrying about the commisions. But we will not be able to buy and sell the same stock or sell and buy the same stock (short selling) in the same day. The account would have to be funded with 25,000 and we aren't close. We also need to keep the stock buys and sells in the 100 share increments for transaction ease.
We will be voting on the fund name Tuesday! So please nominate your entry(s) Will someone set up a poll to use as the register?
In the interim, please get any stock picks posted so those that want to vote on them have a chance to go look at them and do some homework. Yahoo has a nice symbol lookup quote as does google Also watch the mad man of mad money Jim Cramer on CNBC. He gives good ideas to look at in diferent sectors.
Remember I'm west coast, but you can call me anytime for questions or just to meet voice to voice. If for some reason I am screening my calls, leave your name and cigarpass handle and I will call you back. Well except Double D your in Germany... you call me.
