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Topic: Welcome to #computertech || Everyone hates Boliver || Boliver is my bias

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Friday, April 14, 2023

[03:39:22] tr [T] <boogeyman> boogety boogety boo!!!

[03:43:30] tr [T] <boogeyman> it's me soundshaman. idk what happened. i couldn't log in with my old username anymore so i just made a new one

[03:43:37] tr [T] <boogeyman> screw it

[03:44:10] tr [T] <boogeyman> i don't gt on much these days anyway

[03:44:14] tr [T] <boogeyman> get

[17:00:05] tr [S] <@Dragon> rip

[18:11:19] tr [T] <login> who is your boss, MAGIC?

[18:11:25] tr [T] <login> and was the biggest tax fraud enron?

[18:12:02] tr [T] <login> the middle east doesn't have income tax

[18:12:47] tr [T] <login> oh, this cumex stuff - yeah, it's been going on

[18:13:11] tr [T] <login> it's pretty interesting - they inflate the number of stocks artificially right around the ex-dividend date

[18:13:32] tr [T] <login> through the process of re-hypothecation

[18:15:15] tr [T] <login> in other jurisdictions like australia, only the owner of the stock as written in the register gets the refund (if they have had economic exposure to the stock for the past 45 days, i think)

[18:15:55] tr [T] <login> they are just following the rules they themselves wrote

[18:17:08] tr [T] <login> there are special markets made to exchange cum-dividend and ex-dividend stock for up to 2 days after the ex-dividend date

[18:17:19] tr [T] <login> the reason is because of how options on the stock work

[18:17:40] tr [T] <login> if the option is exercised on the day the stock goes ex-dividend, the option writer has 1 day to deliver the stock

[18:18:16] tr [T] <login> but if no more cum-dividend stock is available, the option writer is SOL unless they can get some cum-dividend stock in exchange for ex-dividend stock

[18:18:45] tr [T] <login> so that allows 'negative time' in acquiring cum-dividend stock, and this enables the cum-ex scandal

[18:19:07] tr [T] <login> Here's the article on it: https://www.afr.com/companies/financial-services/macquarie-peppered-with-german-lawsuits-over-dividend-trades-20211031-p594q5

[18:23:21] tr [T] <login> Here's the exact article: https://www.smh.com.au/business/when-big-boys-go-ex-dividend-cum-dividends-cum-out-to-play-20130222-2ewvb.html

[18:25:02] tr [T] <login> what's actually unfair is that local residents get tax refunds, but foreign residents don't get tax refunds

[18:25:18] tr [T] <login> i.e., there is no internationally accepted franking credit that all tax authorities accept

[18:25:32] tr [T] <login> even though the corporation has already paid tax on its income before distributing dividends

[18:41:43] tr [T] <login> https://www.theguardian.com/world/2023/apr/14/spanish-woman-emerges-after-spending-500-days-living-alone-in-cave

[18:41:47] tr [T] <login> She might just start a new religion!

[23:15:31] tr [T] <~therock247uk> o/

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