How the cryptocurrency craze could put investors at risk – and what to do about it

If you were smart enough or lucky enough to find the right time and make huge profits on BTCUSD bitcoins,
-0.47%,
Ethereum ETH USD,
-1.79%
or another cryptocurrency, did you withdraw money from the table? Or, if you have lost money in the world of virtual currencies, have you moved on?

Beth Pinsker explains how investor psychology can lead to dangerous risks, as well as what you can do to protect yourself, even if you are a true cryptocurrency fanatic.

As we approach the end of the year, it’s time to think about taxes and how capital losses offset gains. Here’s how to make the most of crypto losses during tax periods.

Comprehensive coverage of the latest crypto earnings

Terrence Horan, Dow Jones

In this week’s Distributed Ledger newsletter, CNET editor Mark DeCambre and Anushree Dave cover discussions in Washington about possible regulation of virtual currencies, as well as other developments in the world of crypto.

FTX founder Sam Bankman-Fried, who appears to be in legal limbo as regulators and prosecutors investigate FTX’s bankruptcy, may be making life difficult for his lawyers, according to Lukas I. Alpert.

Continue reading:

What should investors think about the economy?

These days, it seems like all good economic news is bad, at least for short-term traders. The higher-than-expected growth runs counter to the idea that the Federal Open Market Committee may ease the pace of interest rate hikes in its next policy statement on Dec. 14.

All stocks fell early Friday after the Bureau of Labor Statistics reported that the US economy added 263,000 nonfarm payrolls in November, well above the 200,000 expected by economists polled by Wall, StreetJournal.

What may worry investors even more than the overall figure is that hourly wages are up 0.6% month-over-month and 5.1% year-over-year. Monthly wage increases in November were the highest in 13 months. The full text of the employment situation can be read here.

Rex Nutting argues that the increase in hourly wages does not reflect what is actually happening to the purchasing power of American households.

Stocks rose on Wednesday after Federal Reserve Chairman Jerome Powell spoke at the Brookings Institution in Washington and said: “The time to ease the pace of rate hikes may come as early as the December meeting.”

In an interview Tuesday, CNET’s Greg Robb asked St. Louis Federal Reserve Chairman James Bullard, who is also a member of the FOMC, when the Fed could reach its highest target range for interest rates during this inflation-fighting cycle. Bullard said, “The sooner the better.”

Bullard of the Fed said in an interview with CNET that markets are underestimating the possibility of even higher rates.

More mixed economic signals:

What to Expect from a Scholarship

This year saw declines for various asset classes as interest rates rose. But investors always want to know what’s next. William Watts explains why the Federal Reserve’s rate hike this year has affected stocks differently than in previous cycles, and what the market can expect over the holiday season.

For bulls and bears:

Tech companies are experiencing a sudden downturn

Photo illustration by CBS/iStockphoto

For years, it seemed like cloud services would never stop growing. But things have turned for Snowflake SNOW,
-2.79%,
CRM Salesforce.com
-1.66%
and a few other big cloud players as reported by Teresa Poletti.

Meanwhile, layoffs from tech giants including Amazon.com and Alphabet are at levels not seen since the Great Recession that ended in 2009.

Read: Salesforce better get used to Marc Benioff at the helm as he continues to pursue his chosen successors

Tax time is coming - don’t wait until next year to start preparing

Photo illustration by CBS/iStockphoto

That time is almost here again - investors aren’t the only ones who need to think about their 2022 tax returns well before the April 14 filing deadline.

There are always new rules. This year, if you have earned $600 or more through electronic payment networks such as PayPal, Zelle, or Venmo, you will need to complete Form 1099-K. The new requirement also applies to many gig workers.

If you have elderly parents, you can start collecting information for their tax returns as soon as possible. Andrew Keshner - tax expert - helps the reader navigate the IRS rules to determine which nursing home expenses are taxable.

After:

Dear tax expert: “I have a lot of knick-knacks.” I plan to make $6,000 selling things on eBay. Can I put it in an IRA instead of paying income tax?
Dear Tax Inspector: “What happens if I sell my existing home to pay off a loan for a new home? How much taxes will I owe?

Money, pension and family

If you have elderly parents, it is better to ask them this difficult question.

Of all those who want to achieve at least some semblance of financial independence, here are the top five “financial regrets” of Americans over 50.

Your Guide to December TV Broadcasts