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Strategies & Market Trends : Value Investing
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To: Dale Baker who wrote (29498)12/31/2007 12:48:41 AM
From: Paul Senior  Read Replies (3) of 78673
 
I don't understand how people can put up performance percentages for '07 so quickly. Are these pretax numbers?

Am I the only person around here who's likely going to pay the USA Fed. AMT tax because of making outsize sales and incurring large net long-term capital gains? A tax which is near impossible to prefigure just using IRS forms and/or not knowing what the new - presumably reduced - AMT rules will be?

I'm outlooking that my taxable portfolios total value will drop maybe 8-9% or more just having to come up with cash to pay this tax. I've already moved that money out of stocks and into a bank to pay estimated taxes due Jan 15.

Hmm. I guess put that way though, 8-9% is not such a bad drop. Having to pay Uncle Sam 25-30% of the net gains incurred seems the much more painful way to look at it. And looking at the total chunk of money actually disappearing, is the most painful.

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I can't match your performance this year. I don't know about year 2002 being especially difficult. 2002 doesn't seem that bad to me in retrospect. I don't know what I should've learned from the market from that time. Perhaps for you, it's to now "hunker in the bunker", which seems to me about what you say you are doing.
For me, I see tons of great buying opportunities, more so than usual, and I have open orders all over the place. Assisting me is that I'm not so much worried about 2008 as a down year and I don't have clients I have to report to.
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