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

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From: ChanceIs	12/28/2007 4:31:20 PM
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Slightly OT - Is anybody NOT short ADM here!?!?!?! Just stopping in between Christmas parties. Hope that yours was as good as mine. You might see me New Year's Eve day, but then again....... Hmmm. Let me put it this way. If you had gains this year and don't want to pay Uncle Sugar more than he deserves or needs, just put them all on an ADM monster short Monday morning and see what happens. Also - tax tip for next year. Heartland Value Fund (HRTVX) just paid out (record date 12/26) a monster dividend...about $7 on mutual fund shares trading at about $49. About $6 of that $7 was LT cap gains. OF course HRTVX dropped about $7 on te ex-date - to reflect the So the tip (or question)....why not buy HRTVX a couple days before the record date, collect the dividend, and then sell for a short term loss of the fund. This would be attractive for anyone who had a lot of short term gains for the year. The short term loss on HRTVX would be offset by the short term gains elsewhere, and you are left with the LT term gains. Basically through this trade, you are morphing ST gains into LT gains, and changing the tax rate from roughly 33% down to 15%. This is too easy. Is there something I don't understand??? There must be. IRS on to thus one yet??? I don't think that Wash Sale rules apply. Those funds report LT gains within the fund, not how long an investor held the fund. So your 1099 just says HRTVX...LT Gain = $XXXX.YY (I have some HRTVX in my aunt's fund - how I know.) I would very much welcome some serious feedback. ichart.finance.yahoo.com/z?s=ADM&t=3m&q=l&l=off&z=l&p=s&a=v&p=s

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