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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Freedom Fighter who wrote (116141)	10/2/2008 11:14:06 AM
From: Knighty Tin	Respond to of 132070

That's a big problem. Another one I hate is that cap gains taxes can discourage people from diversifying. I can't even count the number of folks I know who have most of their net worth in one company's stock. True, if the stock is Exxon, it's a much better deal than if the stock is AIG or Enron, but it is still a poor way to invest. But, as one friend I know sees it, how can she sell her $8 million of oil driller stock at $75 when she has a cost of $1.15? Now that the stock is at $50, she is more willing to sell at $75. <G> Fortunately, before the drop, I did convince her to sell itm Leap Calls on about a third of the position. Not enough, but something. And, from a macro point of view, money should flow from poorly managed cos. to well managed cos. without hindrance. Of course, from the public's point of view, that would have meant selling Wells Fargo, which was growing more slowly than other banks, and buying WAMU, but, as the drunk comedian says, there is no cure for stupid.