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Technology Stocks : Lucent Technologies (LU)
LU 2.825-2.2%Nov 11 3:59 PM EST
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To: Sawtooth who wrote (5775)1/22/1999 10:45:00 AM
From: Tommaso  Read Replies (1) of 21876
 
I think you are correct about that. I think there is definitely a solid floor for the stock and that people with fivefold gains don't want to pay the taxes and won't sell. But that still leaves about a tripling of the stock within the one-year holding period for capital gains, and I think that a lot of that is speculative buying, possibly much of it on margin, that has pushed it up beyond a reasonable level.

Sooner or later (unless, of course, you die) you have to pay taxes on gains if you want to enjoy them. I think that a person with a lot of money tied up in LU would do well to bow to the inevitable and pay the taxes on at least some of their holdings. I think the stock is priced at what it ought to be in the year 2007 or so and that there will be an opportunity to buy it at a better price than now prevails.

It certainly is an excellent company.
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