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Technology Stocks : Cymer (CYMI)
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To: John Bloxom who wrote (3608)9/27/1997
From: Robert Marsh   of 25960
 
>>This leaves the question why the stock is getting trashed. I think the answers here, in inverse order of importance are: (i) shorts; (ii) fear; and (iii) the fact that every freaking share of the IPO of last September is now a long-term capital gain. On this last point, remember that even at 25 (50 pre split), every subscriber to the IPO has a 263% gain;>>

At this point in time, a capital gain held between 12 and 18 months is taxed at the 28% rate. It must be held at least 18 months to get the lower 20% rate (assuming your tax bracket is 28% or higher, a safe assumption for those who bought in the primary market). The Taxpayer Relief Act of 1997 manipulated the definition of long term capital gain for date of sale after 7/29/97. I'm not an accountant, I just play one in the classroom.

Bubba
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