Everyone's cost will be different. But what Fidelity says the cost basis is for NCT and NEWM is way different than what Quicken says it is after do the spin off. Don't know who to believe. Mine is in an IRA so it really doesn't mater, it's just the principle of the thing, it shouldn't be that hard.
I wasn't worried about the tax basis, it's in an IRA, I was only trying to get it entered into Quicken such that the bottom line was right.
There might have been 5 posts that were worth reading out of the 100's that got posted. Why do people get such a thrill out of posting junk, i'll never understand, you would think they would have something better to do with their time. The mentality of the average investor has sure changed over the last 10 years, and not for the better.
The bottom line is your total dollars of NCT and Newm after the split must equal the market value of NCT before the split. So having said all that my total for 1000 NCT on 2/13 was $12650, so if you use $ 12.64 as the NEWM price for the 158 shares i received that is 2001.86 leaving $10652.88 for my 2200 shares of NCT, that gives a price for NCT of$4.8422181818. Does all that make sence?
Thanks, that's pretty close. Entering these spinoff's into Quicken is never easy to make it come out right so you don't gain or lose money. Should be a lot easier.
I know we got .0721948145 shares of NEWN for each share of NCT, but don't know what the costs were.
I agree, i have been in SDRL for a long time, you can't beat the dividend and selling the covered calls. Unfortunately I lost my shares to a call a while back and had to buy them back at a high level so right now I am under water on the cost basis but way ahead with the dividend. I just keep adding to my position to bring the CB down.
I'm not asking about the AAMR shares. Does it hurt so much to just give the answer if you know it?
Here is what Seeking Alpha said today: The current dividend jeopardizes SDRL's finances while the deep-water market is moving against the company while it aggressively expands. This 10.3% dividend yield is a sign of weakness not strength as the company will likely be forced to cut its payout in the next 2-3 years to avoid adding too much debt. While this yield is attractive, investors should sell SDRL. Given the state of its balance sheet, I would be hesitant to pay more than 8.5-9x earnings to reflect its large debt load. I would sell SDRL until it reached the $28-$30 level.