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To: Roads End who wrote (82027)	3/17/2001 10:15:19 PM
From: Sam Sara	Respond to of 436258

Consider the investor who bought tech in 1992-1995 and then sold in first big Naz decline last year in spring. Say Naz 3200-3300. Then they see it break 4000, and plow back in. They then get caught in downdraft since then, vaporizing much of gains, and leaving them with a large capital gains bill for sales of lots from early 1990s. I don't think it is possible to know for sure how many people are in this scenario, and others that generate selling to cover taxes. I would not discount it...

To: Roads End who wrote (82027)	3/18/2001 1:59:45 AM
From: Perspective	Respond to of 436258

Gotta agree with Sam on this one. Remember how everybody wanted to carry over their late 1999 gains into 2000? Lotsa people held off and ditched early in 2000. Not the majority, but a huge capital gains bill developed off those. The savvy ones booked losses at the end of the year to offset the gains from early in the year, but I bet a lot of people didn't. I also suspect IRA contributions will be below normal this year due to cash flow concerns. Those who know they owe (like me) but maybe haven't done their taxes yet might be surprised at how much they owe. Those long-forgotten capital gains may come back to haunt quite a few people. BC