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

To: Moominoid who wrote (63689)	5/9/2005 9:54:25 PM
From: Slagle	Read Replies (1) \| Respond to of 74559

Moominoid, When I said "elderly people" I was mostly thinking about people I know who plan to pass along their estates to their heirs and rather than sell the shares and face the cap gains bill now, plan to pass along the shares to the heirs who will likewise inherit the new stepped up basis upon their parents date of death and hence avoid the big cap gains bite. I get to look at a good many elderly folks portfolios, relatives and relatives of friends and just because folks know I fool with stocks. I'm looking at one now with a large amount of XOM bought at $2.31 per share and an even bigger block of GE bought for $1.36 per share. You get the picture. Of course this person has lots of other investments and if GE and XOM both go to zero they won't miss any meals. Neither will their heirs. <G> They don't pay much attention to the daily or even yearly movements of these investments and haven't for decades and such inattention has served them well. There is something to be said for the LTBH approach, at least there HAS BEEN for quite a long time. That could always change, of course. Wonder what the average annual total return will be for XOM and GE for the NEXT 40 years? Slagle