Champ the Trader,
Am to believe that you bought both your shares a $7.00 and then sold them both at $20.00. And then have taken your $40.00 in proceeds, borrowed $8.00 from your cousin Vinny and then purchased four more shares at $12.00, which you in turn sold for $18.00, grossing an incredible $72.00, less your original $14.00 plus the $8.00 loan from cousin Vinny. It looks to me that your netted before short term capital gains tax, $50.00…..
Note: These figures do not include any commissions and/or handling charges by a brokerage house. The mathematical calculations were completed after two or more Bud-Wise-rs (so Stag should review them). Short-term capital gains tax should be calculated at 28%, based on the fact that I am sure Champ makes less then $55,000.00 per year.
As far as Warren Buffet goes, I am trying to recall without avail the last time he quoted “ Yes, that's right, I bought Coke for $48.00 and sold it at $67.00, and then a few weeks later I doubled my position at $55.00. I am currently looking to sell it at $73.00, they have lots of competition you know, Pepsi, Tea, Coffee, Water, Bud, Sprite, just to name a few”
I also have to tell you that I have know more then a few guys who “Say”, they make those great trades, but I don't think I know any who “Really” (consistently) do. You have got to be one of the most arrogant people I have ever seen on the threads; in fact my broker called me earlier laughing about your posts, and said “You can't even imagine how many times I have heard that song and dance in the last 20 years”.
If you really are a billionaire and have made it all trading the market, I am completely wrong and retract all the smart-ass comments above.
Jack
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