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To: Charles Tutt who wrote (37618)11/11/2000 1:18:46 AM
From: Prognosticator  Respond to of 64865
 
You should just have shorted and then bought them back, that way you don't have to adjust your cost basis or pay crapital gains tax on the underlying stock, only on the profit from your short.

P.

(Note: this is not investment advice, it is not tax advice, and in fact, it's probably incorrect. This is not important since I live in my own fantasy world most of the time, a place where stocks in companies growing revenues at 60% YOY actually deserve the P/E of others like CSCO who aren't really growing, just acquiring)



To: Charles Tutt who wrote (37618)11/11/2000 11:53:38 AM
From: cfimx  Read Replies (1) | Respond to of 64865
 
unless you DESIGNATED your broker to sell specific shares ct, you just created a capital gain for yourself based on the first shares in.