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techcrium

How much money have you lost from your cruise stocks?

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For me, I own 100 shares of Carnival, which hurts losing $3000 but it's not the end of the world.

 

How about you guys.

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2 minutes ago, techcrium said:

For me, I own 100 shares of Carnival, which hurts losing $3000 but it's not the end of the world.

 

How about you guys.

You haven't "lost" anything if you haven't sold. In '08 our portfolio got as low as 40% down but we didn't sell. But we also don't own individual stocks.

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Mine are valued at about $1500 less than I paid for them, but I haven't lost anything until I sell them.  Until then, it's just numbers on a paper.  I have every confidence that the market will rebound and I will end up making money.

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Just bought shares near the low point a few weeks ago (Carnival). Time will tell whether it was money well spent but as of now the price is up about 50% from what I paid.

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Now could be a good time to come in - Carnival’s recent successful offering of 70+ million shares shows wide optimism - but of course it dampens recovery prospects for earlier holders —- as does the substantial new debt they’ve taken on.

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1 hour ago, techcrium said:

For me, I own 100 shares of Carnival, which hurts losing $3000 but it's not the end of the world.

 

How about you guys.

If you see good long term prospects, this could be a good time to double down, later selling original stake to lock in tax loss (assuming, of course, that you have ANY taxable gains to take).

 

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24 minutes ago, navybankerteacher said:

 

 

 

If you see good long term prospects, this could be a good time to double down, later selling original stake to lock in tax loss (assuming, of course, that you have ANY taxable gains to take).

 

 

That was my strategy during the 2008-2009 drop in stock prices.  CCL dropped, but RCL dropped worse.  I had capital gains on other securities that had been sold during that tax year.  I sold my original shares of RCL and took the loss.  After the wash sale rule had been passed for that sale, RCL had hit its bottom and started up.  I doubled my original purchase just above its bottom.  Even at today's price, I am still "above water".

 

I did not use that strategy at that time with my CCL holdings.  Even if I had, at today's close, I would still be "under water" with CCL.  I don't understand why CCL's price fell lower this time than RCL's price has.

 

 

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8 minutes ago, rkacruiser said:

 

....  I don't understand why CCL's price fell lower this time than RCL's price has.

 

 

The recent public equity offering has significantly diluted CCL’s  shares , while the assumption of much private debt increases long term risk.

 

I suspect RCL may yet have to take comparable actions - but it there is a quick bounce back in cruise activity, RCL’s holders may fare better. 

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2 hours ago, clo said:

You haven't "lost" anything if you haven't sold. In '08 our portfolio got as low as 40% down but we didn't sell. But we also don't own individual stocks.

Correct ,  just  hold on , especially if only 100 shares .

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1 minute ago, navybankerteacher said:

The recent public equity offering has significantly diluted CCL’s  shares , while the assumption of much private debt increases long term risk.

 

I suspect RCL may yet have to take comparable actions - but it there is a quick bounce back in cruise activity, RCL’s holders may fare better. 

 

Carnival prices were in the "below $9" range per share even before the recent offering. 

 

I suspect part of it was the high visibility of coronavirus cases and situations on Diamond and Grand Princess in particular.

 

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19 minutes ago, cruisemom42 said:

 

Carnival prices were in the "below $9" range per share even before the recent offering. 

 

I suspect part of it was the high visibility of coronavirus cases and situations on Diamond and Grand Princess in particular.

 

The market generally discounts in advance - it had become clear that such  capital infusions were. contemplated.

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Posted (edited)
2 hours ago, techcrium said:

For me, I own 100 shares of Carnival, which hurts losing $3000 but it's not the end of the world.

 

How about you guys.

 

I am starting to place my bets, sadly didn't leap at CCL when it was below 10, but fully expect great volatility for a while and will buy low and sell less low 🙂    I have no interest in holding it for any OBC.

Edited by chipmaster

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34 minutes ago, chipmaster said:

 

I am starting to place my bets, sadly didn't leap at CCL when it was below 10, but fully expect great volatility for a while and will buy low and sell less low 🙂    I have no interest in holding it for any OBC.

I imagine there will be ongoing opportunities - perhaps not a dramatic as the 90% run up from March 10 to March 26,  or the 52% run up from April 2 to today,  but major shifts are likely as the depth and extent of COVID 19’s impact on the cruise industry continues to be felt.

 

I certainly would not wager any significant portion of my IRA.

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7 minutes ago, navybankerteacher said:

I imagine there will be ongoing opportunities - perhaps not a dramatic as the 90% run up from March 10 to March 26,  or the 52% run up from April 2 to today,  but major shifts are likely as the depth and extent of COVID 19’s impact on the cruise industry continues to be felt.

 

I certainly would not wager any significant portion of my IRA.

 

Where the bold are willing to bet there are lots of opportunities, CCL isn't the best of them, LOL.    It's been a while since the dot.com days that I did a bit of day trading and have put my toe back in the water, hope no great white bites off the leg.

 

I heard a great story about the 401K and IRA as the greatest con put on the working man.

 

Think about it you put your hard earned money away tax free, it grows tax free, and when you retire if you do well you likely will get taxed at equal or higher rate by the government ( remember everyone thinks they will retire rich and live well, and the tax man is planning to tax your riches ).

 

The really rich they won't be so stupid to look to put in an IRA nor a 401K, they are far smarter.  They invest in stock and or realestate and when they sell their rate on the gains are far lower than ordinary income.  Thus the rich make out richer and pay less than the poor sucker who dutifully socked away in IRA and 401K only to have the tax man take a lot when he withdraws. 

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2 hours ago, navybankerteacher said:

The recent public equity offering has significantly diluted CCL’s  shares , while the assumption of much private debt increases long term risk.

 

I suspect RCL may yet have to take comparable actions - but it there is a quick bounce back in cruise activity, RCL’s holders may fare better. 

 

Thanks for the explanation.  

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2 hours ago, cruisemom42 said:

Carnival prices were in the "below $9" range per share even before the recent offering. 

 

1 hour ago, navybankerteacher said:

The market generally discounts in advance - it had become clear that such  capital infusions were. contemplated.

 

How can such discounts be contemplated in advance?  Maybe I don't read Annual Reports very accurately, but it has been my impression that the Balance Sheet for CCL has been far more positive reading than that for RCL.  

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Posted (edited)
1 hour ago, chipmaster said:

I heard a great story about the 401K and IRA as the greatest con put on the working man.

 

These tax sheltered programs that were first offered during my working years allowed money to be saved and invested.  At the time, it did restrict my cash flow enough that at times I had to ask myself when I dined at a restaurant:  do I really want to spend $4.95 for a steak dinner?   Should I really spend the money to take my Mother and Brother on their first cruise?  

 

Upon thankfully reaching age 70.5 years old and needing to start drawing on these accounts, the long arm of the IRS showed up.  After years of additional saving and investing and now adding those additional distributions:  I am paying more taxes now than I did when I was employed.  Surprised?  Yes.  Pleased?  Not really.  Yet, given the current financial situation that our Nation currently finds itself, I am very thankful that what I did years ago now provides principal resources on which to draw as needed without being worried when will I receive a check with the name of the 45th President of the United States on it.  

Edited by rkacruiser

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95% of our portfolio has been affected/effected but,  as the mayor of Reno stated , " You haven't lost anything if you haven't sold

 

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28 minutes ago, rkacruiser said:

 

These tax sheltered programs that were first offered during my working years allowed money to be saved and invested.  At the time, it did restrict my cash flow enough that at times I had to ask myself when I dined at a restaurant:  do I really want to spend $4.95 for a steak dinner?   Should I really spend the money to take my Mother and Brother on their first cruise?  

 

Upon thankfully reaching age 70.5 years old and needing to start drawing on these accounts, the long arm of the IRS showed up.  After years of additional saving and investing and now adding those additional distributions:  I am paying more taxes now than I did when I was employed.  Surprised?  Yes.  Pleased?  Not really.  Yet, given the current financial situation that our Nation currently finds itself, I am very thankful that what I did years ago now provides principal resources on which to draw as needed without being worried when will I receive a check with the name of the 45th President of the United States on it.  

 

I am with you, dumb steady eddy investor for almost three decades, put away the max, smart allocation thru highs and lows.

 

I had a financial adviser for a while who was obsessed with trying to minimize my taxes, I didn't keep her more than 3 months.   Having to pay taxes wasn't something I like, but when you pay or paying a lot, it's a good sign, even better if at a level that there is serious money to be gained by trying to avoid taxes, but not my style.    Pay taxes and  hopefully helping the less well to do.  In the end you can't take it with you so better someone gets it, LOL. 

 

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28 minutes ago, c-boy said:

95% of our portfolio has been affected/effected but,  as the mayor of Reno stated , " You haven't lost anything if you haven't sold

 

I'm the mayor of Reno, right????? LOL.

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29 minutes ago, c-boy said:

affected/effected

I finally after decades just learned the rule. If it's a verb it's "affect," if it's a noun "effect."

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well I just learned what smidge means

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Posted (edited)
5 minutes ago, clo said:

I finally after decades just learned the rule. If it's a verb it's "affect," if it's a noun "effect."

 

...well, not always.  "Effect" can also be a verb, as in "She wanted to effect a number of changes in how the department operated."  (It means "to bring something about.")

 

-- Cruisegrammarian42

Edited by cruisemom42

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47 minutes ago, rkacruiser said:

Upon thankfully reaching age 70.5 years old

OT, but I found out here that for 2020 you don't have to take the MRD. We have to have some of that money but we have a non-IRA account we can draw from.

 

Bob likes to say "if you pay more taxes than you thought you were going to then you made more money than you thought you would."

 

And I agree that paying taxes is part of civilization. We need to help others.

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