3 Burst results for "Morgan Stanley Bank Of America"
"morgan stanley bank america" Discussed on News Radio 920 AM
"Oh, that's Paul that looks like a pall. That's Paul Lanes Hand right now. Oh, it's worse than mine. Really? It's not good. No, not good. Anyways, trivia today. Had to embarrass Paulo is not on the show. Yeah, he's a real jerk to the best. The best way to go after him, even though my favorite was still when I made behind his back. No, my favorite was still the first show that we did with him where I made him tell a joke to begin with. Yeah, and he just had nothing. Yeah, that was that was a little I wouldn't mean nothing to to open the show. Right at the get goes, Paul, tell a joke. Oh, uh Okay, Here's don't have the guts to just tell, you know it was the best part. It's true. I really must be the worst person to work with us this week in American history, which vice president became acting president for one day while the actual president underwent surgery. Texas at 63566. Please, Please make sure you include the keyword. I fly as well as your name and the correct answer will do. The sixth person with that right answer is going to be taking home a $50 gas card and will be automatically registered to win a pair of round trip tickets to Nantucket on Southern Airways Express. We give those away Friday. Again. The question this week in American history, which vice president became acting president for one day while the actual president underwent surgery. Texas at 63566 Police also include the keyword I fly, Otherwise you won't be eligible to win. And We have the answer in our next segment. Buy borrow die how rich Americans live off their paper wealth. What do they mean by that, Mike? So what they're talking about here is a way of using your assets without paying a whole lot of taxes. So when you get this concert critique of the wealthy that, Hey, they never pay income taxes on capital gains taxes in large part that is Correct and the way that they do that, let's say you've got a massive $3 billion portfolio. There'd be a couple of different ways that you go about accessing the actual funds from that portfolio and using them you could sell your investments and pay a whole bunch of taxes in the way of capital gains. Or you could not never sell them. And you could just say Hey, uh, you know Merrill Lynch Morgan Stanley Bank America Loan Me. Uh, you know, $10 million off my $3 billion portfolio. Which they will do, and probably had a really, really attractive rates since you're worth. So that was pretty close to a mortgage rate pretty pretty close to a mortgage rate. In that case, in all likelihood, the stock in that case acts as the collateral for the loan. You never pay any taxes because it's just alone. Uh And you can just use that those funds, however you want. This is margin trading at its best, Uh, you know, not margin trading margin training. When you borrowed the portfolio to buy more stock. This is just using the portfolio. To borrow against it, and you know, all sorts of folks use it, but it's very prevalent in that. You know, in that group, Um Morgan Stanley said that clients have $68.1 billion worth of security based lending outstanding. More than double five years earlier. Here's my question for you. Given potential tax reforms coming down the road. What does this tell you? About this group of Americans expectations for future taxes. If anything, That's where I interpreted this. If they're taking their borrowing more off of their portfolios than there were five years ago. Does that tell you anything about expectations for things like the step up in cost basis? Or the estate tax? No, But what am I missing? So my interpretation of this is that if people are saying, Hey, I'm not going to realize my capital gains here and I'm instead going to borrow a bunch of money off my portfolio to me that reads. I don't believe that capital gains tax rates are going up. I don't believe that they are going to see Big change in the way these things are handled the death. Do you think maybe this is just because these portfolios are bigger right now, and they have more availability to borrow that we're seeing this mean you compare portfolios today to 15 months ago. They're way bigger. Yeah, they're way bigger. That's certainly a piece of it, too. And the other huge piece of it, too, right? Markets gone way up over the last five years. Borrowing rates have gone way down, so both of these would lead you to expect the amount of outstanding loans to continually grow. Um I I think a better read on that second part that I was asking would be our people realizing more capital gains this year. I don't think we know and you know, some people have tried to paint this as being you know, an unfair practice, and I don't think that the practice in and of itself is unfair again. If you have assets that you can pledge as collateral, there's always a banker willing to make a loan to you. Sure. Here's the question that I do have, though. How come when you're applying for a margin account. There's basically no paperwork that's required. I know I've opened margin accounts for myself and for other people many, many times, okay. There's no credit pole. No And there's no underwriting, really. True. Why do we not? Why do we allow? But if it's this easy to borrow against the portfolio that can change in value significantly. Why is it so darn hard to get a home mortgage? I think it's much harder to get home mortgage in part because you can borrow a heck of a lot more in a lot of cases on that. I agree the underwriting standards if you're doing like a 50% loan to value The property. Ridiculous. They're they're ridiculous. You're right. Um Concentration would be another piece here. You are borrowing off of a single piece of property, whereas if you're borrowing off portfolio, you're presumably a lot more diversified. And if you're not, they're going to limit how much you can actually borrow off of all that stuff. So I think Part of it is the securitization of everything right if that portfolio goes down The company that's lending me that money can quite literally sell the asset under you. You have zero say in it, and they can do it tomorrow, whereas if a bank wants to repo your house and sell it, this kind of a process. Yeah, it's a lot more expensive. It's a lot more difficult to do. Um I mean, the only critique that you can have of this is look, our tax laws are set up in a way that advantages people that have portfolios like this that can borrow against them and not realized capital gains. And so if you have a problem with it Don't think you should have a problem with people that are doing this. They are Following the tax code. If you have a problem with it, do things like change the capital gains tax rate or change the rules around cost basis. Like why does your stack of stuff looks so different from mine record? A bunch of it? Don't worry about it. What should we cover? Now? Just keep going. You want to talk about oil? No. Okay. Do you in Wawel Apartments? Do you want to cover that? Let's talk about in love. Okay in law apartment, so headline in The Boston Globe for years in law apartments have been discouraged in Greater Boston. But the housing shortage Is changing that We saw this happen across like the San Francisco area over the last couple years, I was going to ask, because this begs the question. Yeah. Why have in law apartment's been discouraged in Boston for years? What's the reason? Like? Why would anyone say no? You can't put it in law apartment on a single family building. Same reason. And you can't buy alcohol in Massachusetts on Sundays. I don't know. Probably some stupid, arcane rule that makes no sense of this. Is there any justification I can understand? Saying, Hey, we don't want his own for you know, a full duplex or something like that. But the idea that Hey, we can't Put an in law apartment above our garage because of you know, zoning regulations. Stupid. Does that make any sense? Stupid? So long as you actually following the rules, right, as long as there's actually light coming into the unit, as long as there actually is a bathroom and a kitchen. It's stupid that you couldn't do this. Previously in towns need to adapt, Just like it was stupid that you But there's plenty of things that I think are stupid that I probably I'm not thinking about. Like, you know, restaurants. Can you take out alcohol? I think that's a dumb policy. Um okay, we're comparing In what I know, I'm just I just It's just legislation that I hate, I guess is what I'm is what I'm coming out and drawing the commonality between them. But you've had a couple towns. Arlington and Salem both passed measures to allow in law apartments, framing him and Barnstable or considering doing so as well. Boston's expanding a program from 2019. So potentially some new things coming on in the next, uh, next little bit quick break. We have the trivia answer after this. Financial exchanges live on Facebook, So make sure to like our page and watch the guys break down the latest on the markets every day, beginning at 10 on the financial exchange radio network ain't no place like a cowboy, Please..
"morgan stanley bank america" Discussed on 860AM The Answer
"Learn how to be biologists or engineers, but there's no school that they give you a college is school about how to manage your investments in retirement. That's why we've been around for twenty two years, and that's a real differentiator to you mentioned. They're like not a recommendation. It's not a headline is not a, hey, this is a hot stock over here. Wow. Momentum kind of thing. This is a skill set. I mean, this is a class. What happens in that first class? What happened first class? It is only two hours it used to be three. But I cut it down to two. Goes you a quick, and we covered the basics of trading in investing. But we really highlights how does Goldman Sachs your mortgage Stanley or all those companies make buying its own decisions. So if we can mimic that and be jumping in and out when they're jumping out. We have a pretty good possibility that we can make money and be successful. Now. Nothing's for sure, obviously. But we can include the odds by learning where they're buying and selling might take away from taking this seminar with you was it takes out the emotionality of things like you don't feel you feel like you're better prepared and better equipped and with more knowledge, you can make a better decision and and less stressful decision to trading invest can be very stressful. So we have a process called set. It forget it where we identify points where Dulbin Sachs Morgan Stanley Bank America or buying salads replaced orders on a chart, and we turn to the beater. And if it's great if it doesn't that's okay too. It's pretty sweet let's talk about the locations around the bay area where students are would be students can get registered for that. First free. Seminar. Well, our headquarters we've got a campus down San Jose for about ten years. It's right at the entrance to the airport. Main campus where we do. Our trainings are introductory classes are conducted Donnelly at our San Jose office, but conducted satellite hotels throughout the area. We have three.
"morgan stanley bank america" Discussed on BizTalk Radio
"The housing uh retail pretty much green remember those dollar stores daltry up two and three quarters burlington up two and a half foul general tjx both buck in change commodities mixed couple up couple down but good that golden silverwood down yes and that's the story natural you need any more in a general nature but just when you have a chance technically go look with jp morgan morgan stanley bank america and the x l f health the matter of fact if you look at the xl left look where it's held for the last one two three four five six seven eight nine ten hugging the fifty day moving average and today off of it yes go look at bankamerica hit the fifty they move in eight days ago held a today go look at j p morgan looks like the ex lf and volume picked up a little bit today go look at morgan stanley mortgage held a fifty day that's what you always want to see measuring this dow little break out arranged that i snp a little break out of range today the the nasda i gather or no hi it's been sending not ranging and the general thoughts of the day feel in may could so up next we'll have the movers of the day and i promise i promise i am done wining and complaining about the socialist more on that some more up next whatever else this is the one.