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Gold/Mining/Energy : Big Dog's Boom Boom Room

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To: chowder who wrote (40226)	3/15/2005 6:36:29 PM
From: Tommaso	Read Replies (1) of 206307

>>>BRY is down 15% off its recent high. Wouldn't it have been better just to take the short term gains? Wouldn't you net more that way?<<, No. The way to get rich is not to pay taxes. You don't pay taxes until you sell. If you give the government as much as 35% of all short term gains and maybe pay state tax as well, plus pay brokerage fees, you will never get very far ahead because you are constantly handing over about half of what you make. I had enormous long term gains this past year but I don't even like paying 15%. The idea is to buy something that is good and let it appreciate, preferably over at least three years and in some cases for decades. You never pay any taxes until you sell. If you are constantly buying and selling you lose all that money. You also have to pay an accountant a lot to keep track of it. My accountant is a $15 (after rebate) copy of TurboTax Deluxe.

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