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Technology Stocks : Softbank Group Corp
SFTBY 76.93-5.1%Nov 5 3:59 PM EST
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To: TobagoJack who wrote (3087)1/5/2000 9:49:00 PM
From: Edwin S. Fujinaka  Read Replies (2) of 6018
 
I actually have most of my Softbank in IRAs so there is no immediate tax consequence to taking profits. When you actually take any money out of an IRA it is taxed as ordinary income at a very high tax rate. On the other hand, if you have a highly appreciated stock like Softbank outside of an IRA, and if you hold the shares for more than one full year, you then only pay taxes on the capital gain at a maximum rate of 20% or sometimes less if you are in a lower than maximum tax bracket.

Softbank seems to be bouncing off the 5000 limit in Tokyo on the downside contrary to most of our expectations. It is beginning to look like a long night and perhaps a long week for Softbank with only one more trading day tomorrow. I suppose there is still the possibility of a comeback tonight, but that seems unlikely.

I suppose I could drag out my prediction that Softbank would be hanging around $690 until late January or early February and then go to past $1000. Maybe we could view that run to 103,000 yen as just one of those oscillations around my base of $690 <G> with the real run past $1000/share still waiting for the end of January. For a stock price predictor, it is important to have a variety of predictions on the record so you can drag out the appropriate one at an appropriate time to show how right you were <G>. Too bad so many people have long memories.
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