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Non-Tech : Tulipomania Blowoff Contest: Why and When will it end? -- Ignore unavailable to you. Want to Upgrade?

To: RockyBalboa who wrote (3374)	2/12/2001 5:33:53 PM
From: Mad2	Read Replies (1) \| Respond to of 3543

C, definitly a case of live by the sword, die by the sword. Market has a way of humbling most. I ran across a guy back in April who was in a similar pinch, who put his dough on the hard way at the right time and through margin accumulated 5 mil bucks. By April/May of last year he burned most of it up, but kept the nice car, house and enough to pay the tax guy, shruggin it off as win some loose some but had a hell of a time. The same risk taking approach that resulted in the wild gains were the seeds of destruction. BTW I'm not sure how your govt taxes gains, but here in USA a self-directed IRA permits tax free short term positions without a taxable event.........avoiding cutting in uncle same on his 39% cut. I think its a lot easier to pick out market conditions and stocks that can go up +20% in a couple of week time frame, but its much more difficult to find those that can advance 100% in a year without slipping underwater. mad2