Here’s our GameStop-heavy Roundup of recent articles on investing and personal finance. Be careful out there.
The GameStop stock frenzy, explained (Vox). An overview of the unfolding David-vs.-Goliath market saga that has captured the nation’s imagination.
When they start to lose, they change the rules! (Nick Maggiulli, Of Dollars And Data). This isn’t the first time the powers-that-be have come to the aid of short-sellers. Check out this story about supermarket chain Piggy Wiggly in 1923.
SEC statement regarding recent market volatility (Securities and Exchange Commission). "The Commission will closely review actions taken by regulated entities that may disadvantage investors or otherwise unduly inhibit their ability to trade certain securities."
How does the GameStop saga end? (Ben Carlson, A Wealth of Common Sense). "The combination of social media and zero commission trades has created a movement that will be difficult to stop now that it’s in motion."
Short selling (Investopedia). A primer on what short-selling is, how it works (or doesn’t sometimes), and why short-selling can be valuable to the overall functioning of the market.
Made a killing in GameStop? Now comes the tax bomb (CNBC). Uncle Sam always gets his cut.
I.R.S. pushes back start of 2020 tax filing season (New York Times). The agency won’t start accepting returns until February 12, two weeks later than usual. But the April 15 deadline isn’t moving.
From WFH write-offs to stimulus payments: We’re answering 7 COVID-related tax questions (Mental Floss). A Q-&-A for the tax filing season just ahead.
The price of admission (Charlie Bilello, Compound Advisors). Occasional large declines (and the fear-inducing narratives associated with them) are the price of admission for long-term investors.
Changes in FAFSA may reduce college aid for some families (New York Times). Also, the "expected family contribution" has been replaced by the "student aid index."
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