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Pastimes : The Justa & Lars Honors Bob Brinker Investment Club
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To: Investor2 who wrote (2392)12/4/1998 11:22:00 PM
From: Bill Shepherd  Read Replies (1) of 15132
 
RE: I urge all Bob Brinker followers to immediately calculate their capital gains tax liability! Don't let it surprise you on April 15, 1999.

I2...you have brought up an excellent point. Hopefully, many of Brinker's followers are dealing with tax-deferred funds, and thus, won't need to worry about taxes...yet. At this point, about the only tax strategy available for people with taxable gains is to consider offsetting those gains with losses. (Holders of UTEK may want to consider this <grin>)

Here is one possible strategy: Pick a stock that has an existing loss, and sell enough shares to offset your gains (or more, if you chose). This will reduce or eliminate your current capital gain liability. You can then either repurchase the stock (at least 31 days later) if you think there is some future gain potential. Or, you can immediately purchase shares in a "cousin" stock, thus maintaining your equity in the industry.

Your overall point is well made, however...all the watermellon smiles will mean a tax liability at some point...sometimes sooner than expected. One thing is for sure, sadly, the government will reap the fruits of your risk-taking!

Good Luck

Bill S
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