Any financecels here?

1  2020-02-19 by professorshillphd

So my mom has been calling me because her husbands grandmother died and his family owns a large amount of shares in a private bank in Florida with assets totaling hundreds of millions of dollars.

What happened is his grandmother had left him thousands of shares in this bank, and now they're contacting him trying to pressure him into selling at lower value than what they claim the stock is worth. Does this seem like a con to anyone else?

The context here is his family has close ties with this bank and actually helped found it, and they've been involved in shady dealings and ratfuck attempts for years. I told her to tell him not to sell. Was this the correct advice?

58 comments

If you support free speech, you must support people pinging other users. It's completely legal speech. If you won't defend pinging as free speech because you or someone else finds it disgusting, then no speech that you or anyone else views as disgusting is safe.

>if it is in fact on shaky legal ground it's reasonable to not want to be the case that establishes it as illegal.

It's not, The reddit admins are straight up lying to the ignorant (like yourself) to justify their prejudice. Pinging being protected speech has long since been estabilished, as it has undeniable artistic merit. The only time it's been included under any obscenity laws is when someone is being charged with possession of harassment, so the state can slap them with more charges. The courts have been very careful to not charge anyone for pinging, because they'd get their asses fucking annihilated by a higher court due to the firm precedence of pinging being completely legal speech. /r/Drama had nothing to worry about, this guy was just making shit up to fool people into thinking his censoring wasn't entirely personally motivated.

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Did she own a significant portion of shares to have a decent amount of voting power? Sounds like the Board or management wants to buy it back as treasury stock or something.

That or they realized you would be the eventual beneficiary later in time lmao

Most likely case is they don’t want the shares to be inherited by someone incompetent whose voting actions would ultimately kill the bank. Something like a founding member dying and their kid being a deadbeat.

I'm pretty sure his family basically owns the bank to some extent. The guy that runs the bank started out as a bag boy.

The family basically gave them the money to found the bank.

Sounds about right. Unless her inheritors have been actively involved in the bank’s affairs or have experience in the industry, it’s not uncommon at all for banks to try to buy back stocks to mitigate disaster.

Also hundreds of millions is small fry for banks, and with more and more banks merging and acquiring one another today, it could be a measure to prevent voting for/against acquisitions.

Unless of course your family member got murdered.

Well, I've actually learned more it seems. The family is fighting over the money hardcore, and the grandmother, I guess, was worth over 100 million dollars.

The guy that works for the bank with their family is shady and acting really weird now that they're trying to get the money. This, while he attempts to buy stock back from the grandkids.

If he’s not bluffing I’d probably HODL tbh

It’s not uncommon, actually. Depends on how much they’re discounting, of course, but they’re looking to consolidate and so they’re offering to buy it all at once. How much under was their offer?

Over 20 dollars a share under.

What the fuck does that mean. What's a share worth. What's the percent discount you mong

It's almost 50% under valued.

Whether or not that is fair depends on how liquid the stock is. There isn't just a 'price' of a stock, there is a market. Some people are bidding and others are offering. When you go and sell some of that stock, the price moves against you generally (you are creating supply, you are taking out the bids and you need time for other bidders to come in, people see there is a seller and bid less aggressively etc). The more you want to sell, the more you will move the price. If this is a company that trades say X shares per day and you only need to sell .01X, then of course 50% haircut is ridiculous. You could send it to a broker algo and maybe except to move the price well under 1% against you, or do the trade slowly and basically not move the price at all. Its probably ridiculous in general.

However, if this is some penny stock that trades X shares per day and you want to sell 10X, then you wont be able to without moving the price drastically, or you have to do it verrrrry slowly over many months even. In that case, if you want to move quickly, its perfectly reasonable to do a block trade at a discount to the last trade price or mid (average of bid and offer).

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Make a counter-offer.

Time to call your mother's husband daddy.

I have my own money from the death of a rich relative bud. Don't need to.

Imagine not being progressive enough to not want to have 2 daddies in current year.

Oh now you are rich too? Is that how you fund your kid diddling?

Low-energy Mitt Rommy has one joke

It’s not funny anymore man

Nigga it ain’t a joke. He admitted to it.

He could admit to 9/11 and his worst crime would be being a milquetoast boring neolibtard

Get a new joke

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Probably trying to limit capital gains honestly.

Isn't it weird that you are active on reddit from 4pm to 4am every single day? Reminds me of when I was 16 but with 4chan. Get some help

What else am I gonna do?

Sleep during the night and have a job during the day loser.

I'm financially stable, well off even and I sleep fairly often.

Of course, your mom buys you everything you need. And you seem to sleep about 12 hours a day based of reddit activity so I don't doubt the second part.

Don't sleep anywhere near 12 hours a day and the mon thing is wrong, but you're trying and that's all that matters.

Even if what you're saying is true, any person who spends 12 hours a day on reddit is a loser. Especially if its arguing the same 5 arguments between the hours of 4pm and 4am.

Yeah it's pretty time consuming to have 3 monitors and just type in 1 while doing other stuff.

Gee bill, your mom let you have 3 monitors?

Legitimately might be the worst flex I have ever seen.

Is it a flex? Most people probably have multiple today.

I mean it's three monitors michael, what could it cost? 10 dollars?

Pretty cheap these days.

I understand that you don't know the price of your precious gaming rig because mommy bought it for you, but everybody's knows you're being a try hard fag right now.

I know exactly what my computer costs and what each part was.

You're trying real hard right now and kind of bombing out tbh. Not that impressive.

Of course you built it yourself, you just used mommies checkbook. My mistake.

>no u

Oh fuck you got me good

Do you have some point to make here or what? My time is limited and I don't really have all day to entertain a child foaming at the mouth yelling random insults into the void.

Yea you're really busy arguing on other parts of reddit right now. As you will be for about the next 12 hours. Sorry to interrupt

I suppose my "point" is that all the pointless lies you tell on the internet are just like you. They will never amount to anything in the real world.

Ok, no problem.

Wait I'm confused, didn't you start out by asking what else you were going to do with your time? But now you are too busy to keep refreshing your inbox all the sudden?

Why are you still msging me bud? I said ok thanks, in case you didn't catch it, that means we're done.

So no answer then, another argument you've lost I guess.

You can believe whatever you'd like.

I don't understand why you replied, I thought you were done now that you've lost?

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Shut up, fag.

I don't remember asking you a goddamn thing

Shut up

He’s really just a group of various people playing a role.

I think that was a meme here at some point but I’m not sure.

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He should sell, then spend all the money and leave you nothing.

The most obvious way this is untrue is that pizza would never ever ask anyone's advice on ANYTHING, even pretending to in order to humble brag

nice try though!

I don't think you know a lot about me. I know my own limits, I know enough to know that I don't know everything, and I know asking people that know more than myself about various subjects is the best way to learn.

I'm not a conservative, I use my brain.

Why the fuck is the guy who cucked your dad asking you, a kid, for financial advice. And why are you now asking reddit.

NGL if I was on the board of a bank and realized that I was one car crash away from having to deal with you as the majority share holder I'd be trying to force a buy out too.

In general, selling large quantities of a stock tends to lower its value, while buying large quantities tends to raise its value.

For that reason, it is typical for offers to buy or sell companies to put some kind of differential into the per-share price.

Have you considered eating them?