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Strategies & Market Trends : Gorilla and King Portfolio Candidates

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To: JDN who wrote (30209)	8/21/2000 10:03:25 AM
From: saukriver	Read Replies (2) of 54805

Never invest in a company based in Florida I did not mean to cast aspersions on most Floridians. But Florida has an extremely liberal homestead exemption that makes it a haven for scoundrels who can file bankruptcy and keep many of their assets from judgment creditors. (I recall vividly a picture in James B. Stewart's book "Den of Thieves" of the Jacksonville mansion in Jacksonville of one of the insider trading guys convicted in the 1980s who decided to relocate from NY to Florida). Isn't there some acreage in your state that one can set aside as a homestead and it does not matter whether you have a 52-story hotel on that acreage as long as you live in it? Other states have no state income tax without a liberal/ridiculous homestead exemption. Florida's lax homestead exemption means that a civil remedy against a Floridian has less teeth. As a result, I could see where Floridians might face less civil consequence from failing to be as forthcoming with information to investors. It is therefore may not be the "Sunshine State" in all respects. saukriver

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