Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : The Options Box -- Ignore unavailable to you. Want to Upgrade?

To: Poet who wrote (10094)	3/16/2001 12:08:08 PM
From: Cosmo Daisey	Respond to of 10876

Miss McPoet, Celebrate all week if you can. Actually St. Patrick's day is an American Irish celebration and the Irish in Ireland paid it little notice until thousands of Americans started arriving in Dublin for the celebration so the Irish decided that it would be a good time for a party, otherwise it was just another day. Dublin rocks now that they have caught on. Dublin is the fastest growing city in the world and the average age is 24 so figure it out. The market? No bottom in sight from where I sit. MASSIVE SELLING still to come in mutual funds at tax time. Thousands of funds reported cap gains to holders due to early selling in 2000 and holding losers later in the year. At a recent meeting investors were asking me if they have to pay taxes on the gains now that the fund is down 50%. Of course the answer is YES and the money will come from selling the funds. I heard tales of $250,000 cap gains and $500,000 NAV losses. This may be the beginning. The talking heads are saying don't panic sell which probably means that is what they are doing. When the leases run out on the big SUV's who is going to buy the used ones? The money wasn't coming from the market for the leases but because the market and retirement accounts were doing so well boomers stopped saving and started spending thinking that retirement was covered by the 401K's. When fund selling starts and the reserves are gone it's gonna be brutal. Anyway, have a great day. I'll be in Palm Beach for Patty's day in the Guinness tent listening to Hal Roach. McCosmo