<p>“Yet the top bank executives try to come off as brilliant people and maybe they are. They know how to play the system.”</p>
<p>Well they are - at least Jamie Dimon is. When asked a question by an analyst, his response was “that’s why I’m richer than you”</p>
<p>I received an email this morning with the annual fund report so I just logged on to the Fidelity retirement site to look at the report. Their website has all of this information (though it isn’t arranged very well). It’s pretty easy to use the website for me because my 401K is there too. I got the lump sum amount off the website.</p>
<p>The link on receiving pension benefits is there too but I didn’t click on it (it’s 11 years away so I’m not in a hurry). That is a nice link though. Options are annuity, lump sum cash or lump sum into a 401K or IRA, or defer to 70.5 years. The obvious problem with the cash lump sum is incurring taxes on it.</p>
<p>[Einhorn</a> and Tepper’s Top Holding Apple Near Year Low and Less Than Their Purchase Price - Forbes](<a href=“Einhorn and Tepper's Top Holding Apple Near Year Low and Less Than Their Purchase Price”>Einhorn and Tepper's Top Holding Apple Near Year Low and Less Than Their Purchase Price)</p>
<p>Are they trying to come off brilliant or is it us who admire them for making so much money for doing not much? I think our culture has changed from admiring hard work and honesty to admiring magic, no work/get rich.</p>
<p>Some people do believe that income or net worth defines intelligence. Believing that means your intelligence isn’t vast. :)</p>
<p>My friend, partner and ex-boss (same person) believes that. He used to berate people and tell them how smart he was compared to them. “How do you think I made all this money you dumb …?”</p>
<p>Over the last few years his net worth has declined 80 percent on paper. He would have had to sell a company at the top of the market so that might be a phony nunber. Over the last year his net worth has declined a third. That is real. </p>
<p>My friend is not bragging about his intelligence right now.</p>
<p>There are people I know that measure people by their income or wealth. I kind of find that disgusting. </p>
<p>You can see a few posters that do this. They shall remain nameless. One or two did this all the time. I don’t see his posts anymore. Another was banned for poor behavior.</p>
<p>They are trying to come off as brilliant. If they are perceived as brilliant, people are more likely to follow their lead.</p>
<p>“The link on receiving pension benefits is there too but I didn’t click on it (it’s 11 years away so I’m not in a hurry). That is a nice link though. Options are annuity, lump sum cash or lump sum into a 401K or IRA, or defer to 70.5 years. The obvious problem with the cash lump sum is incurring taxes on it.”</p>
<p>It is a nice problem to have.</p>
<p>^We rolled over the pension lump sum to a brokerage IRA. Not HP pension though.</p>
<p>Quite a bit of pension talk on these boards today. I am feeling left out. So I sold 5 puts in goog. The 730 puts that expire next week. </p>
<p>My pension for 1 day. With risk. Lol</p>
<p>Not much out there so I sold ASML 3/16 67.5 puts for .70. Looking at the AAPL 3/1 435 puts = 1.41 (435 is the 52 week low) and 3/8 420 puts = 1.50, but probably won’t do anything until after the shareholder’s meeting if aapl sells off.</p>
<p>This market just goes up. Every time it gets knocked down or pulls back it just pops right back up. Doesn’t it make you want to BUY something? Yeah, me too, great self control required to not do that. </p>
<p>My dear old grandfather used to say (and this was a long time ago) “If you’re so smart, why aren’t you rich?” :D</p>
<p>He also used to say, “Drive careful, cuz I’m walking!”</p>
<p>[How</a> to recognize the fear of missing out - MarketWatch](<a href=“http://www.marketwatch.com/story/how-to-recognize-the-fear-of-missing-out-2013-02-22]How”>How to recognize the fear of missing out - MarketWatch)</p>
<p>I’m surprised aapl is down</p>
<p>By the way it is exactly this type of fear that for me makes otm put selling such a powerful technique. You can generate income, if you’re assigned it is at a better price and most of the time you can roll it out. If you do this with spy for example, you know in the long run it will be at a higher price than the strike price - if not you would have more to worry about than the price you paid. In this environment where the market is going up one day and down the next, it is a good strategy.</p>
<p>In Sideways markets selling puts is a great strategy. I’m not fooling myself. I can make a lot more buying 100 shares of goog than I can make selling 5 out of the money puts. The risk of these trades shifts if goog collapses. I doubt that is going to happen.</p>
<p>I had a small bet on aapl. Guess I lost.</p>
<p>I guess Doug Kass was talking out of his …</p>
<p>Apple had some lawsuit-thing in the news today. Judge said that they have to pay $300 something, maybe million and they have to negotiate with a $100K penalty per day.</p>
<p>GOOG has been a lot easier to play on the upside than AAPL for many months.</p>
<p>I guess they don’t like what Cook is saying at the aaple meeting.</p>
<p>Yes…</p>
<p>It is just a 1 day trade. Just bot a call </p>
<p>Just gambling</p>