Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: Raymond Duray who wrote (20085)	6/20/2002 8:24:51 PM
From: LLCF	Read Replies (1) of 74559

Ray.... Right NOW you can call any I-Bank and swap your long or short term gains in say a Gold stock for S&P 500, or LIBOR risk WITHOUT tax implications. Just call up Goldman or someone. They split the profit with you for commish. Say you bought a million NEM @ $15 when Jay was pounding the table on it just 6 months ago. It has now doubled and you've got a $15mill gain. You want to take profit on 1/2 the position, but hate to pay 35+% tax rate instead of 20% long term gains. You do the NEM/Libor return swap for 1/2 the position locking in 7.5mill gain saving say 15% tax diff [1.125mill] and paying Goldman a few hundo for the trouble. This is nothing new dude... just the way business is done in todays America. :) DAK What was Roger Moores new movie????

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