Spinnerette: 03.04.24
2 companies with (neg/pos chg MTCH-UP) -1.61 and +1.61
AU + NTES
AU NEST
The Goose that Laid the Gold Eggs is one of Aesop’s Fables. Aesop was a slave and a storyteller who lived in ancient Greece between 620 and 564 BCE. From my research, I discovered that Aesop Fables were originally Oral and that over the centuries the story of The Goose that Laid the Gold Eggs has been reinvented by many writers. As a metaphor, the idea was meant to demonstrate Greed. In today’s Spinnerette.Anagram, I elected to symbolize the Gold Eggs as a method that yields a steady stream of savings for the future. The Nest symbolizes the retiree. If only, if only, if only, I had paid more attention to those Gold Eggs when I was young.
Today’s Spinnerette.Anagram delves into Saving for Retirement. AU is the symbol for Gold (money) and Nest is represented in my visualization of the Spinnerette.Anagram as a metaphor which advocates three methods a person can save for retirement. Hence, AU NEST.
IRA is an Individual Retirement Account which is a form of pension. The IRAs started in 1974 for workers without pensions to save as a tax-preferred method authorized in the Employee Retirement Income Security Act of 1974 (ERISA). They are handled by many financial institutions and provide many tax advantages for retirement savings.
401K is a tax-advantaged retirement plan that is set up and managed by an employer and can potentially grow tax-free over time. The plan was enacted by the Economic Growth and Tax Relief Reconciliation Act of 2001 (EGTRRA). The plan is based on the idea of dollar-cost averaging. Many employers offer this plan and some will match contributions.
ROTH is also an individual retirement account (IRA) that started in 1998. It was conceived in 1989 but it took Congress until 1997 to pass the ROTH legislation and was signed into law by President Clinton. The Congressman that helped to create ROTH IRA was William Victor Roth from Great Falls, Montana. Contributions to a Roth IRA are not deductible and eligibility is based only on income. Earnings are tax-free as withdrawals are not taxed. The Roth retirement plan does have income contribution limits. This year (2024) the contribution limit is $7,000 for workers under 50 and a $1000 “catch-up contribution” for workers 50 and older. Also, there is a 5 year Rule; you can withdrawal converted funds tax-free but you would pay a 10% penalty. The 5 year holding period is counted as tax years. Respectfully, the Roth IRA is the most tax-efficient and least restrictive accounts you can own if you are over 59 and a half and have waited out the 5 years.
AU is AngloGold Ashanti Limited an independent global gold mining company that was formed in 2004 by the merger of AngloGold and Ashanti Goldfields Corporation by the Henderson Group. The Industry is Mining and their products include Gold, Silver and Uranium Oxide. The company trades on two stock exchanges the NYSE-New York Stock Exchange under the Ticker Symbol AU and the JSE-Johannesburg Stock Exchange under the Ticker Symbol ANG. As of last year, the company was considered the world’s fourth-largest gold miner with assets in Ghana, Australia, the United States and Argentina; it is headquartered in Johannesburg, South Africa.
Revenue is estimated around US$4.400 BILLION with approx. 70,000 associates.
Traded Today @ $21.11
NTES is NetEase Inc. a Chinese Internet Technology Company that provides online services. It develops and operates PC and mobile games, advertising services, email services, and e-commerce platforms. The company was founded by Ding Lei in 1997 and is headquartered in Hangzhou, China. The company is one of the largest Internet and video game companies in the world. Also, they own an on-demand music-streaming service (NetEase Music) and interestingly, they also own several pig farms. The company trades on the NASDAQ under the Ticker Symbol NTES and the Stock Exchange of Hong Kong- SEHK-9999 also known as Hong Kong Stock Exchange. Last year, NetEase launched a new U.S. studio that is led by Bethesda and BioWare. More to come…
Revenue is approx. valued over CNY59 BILLION and employ around 18,000.
A DADDY LONGLEGS: The Hong Kong Stock Exchange lists more than 2,500 companies and has market capitalization of HK$31 TRILLION.
Traded Today @ $108.88
Company/Corporation information from Google Wikipedia and Britannica.