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Strategies & Market Trends : Booms, Busts, and Recoveries -- Ignore unavailable to you. Want to Upgrade?

To: Stock Farmer who wrote (13038)	1/9/2002 5:19:50 PM
From: Maurice Winn	Respond to of 74559

<But my grandfather's advice helped. He repeatedly told me "Income taxes are the kind of problem you should strive to have as much of as possible and then figure out how to minimize. Not the other way around."> John, I've only heard one other person say that. A good friend in the early 1980s was rich from organizing kiwifruit syndicates and that was his line. We WANT to be paying a LOT of taxes, because that means we are making a fortune. They minimized taxes by hiring a tax expert who knew all the tricks in the book. Unfortunatly, he went bust, despite my warnings, because he misoverestimated the growth in demand and selling prices for kiwifruit and had debts to leverage him into the ground. My main point was that kiwifruit had such a low long-run marginal cost of production that they should be cheaper than bananas in NZ. But people up to the gills in bubble profit are not in the mood to listen to naysayers. Does that sound familiar? Mqurice