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To: Big Dog who wrote (4711)	12/11/1997 2:34:00 PM
From: JHR	Read Replies (1) \| Respond to of 95453

Taxes again. Mike, I'm sending this to you, since your tax opinions always seem to make sense to my simple mind. I'm not sure I understand the hulabaloo on the record date for a mutual fund. My cut is you dont buy right before it because you would get stuck for that period's gains even if you didn't have any. On the other hand if you've been in a fund for approximately the period of the rise and have a gain stay there if the fund looks good since the price gets adjusted and your gain on selling it gets adjusted accordingly. On the other hand if you're in the red on the fund get rid of it, since you'll be holding a fund on which you have a loss and still be paying tax on the gain the fund made while you didn't own it. What am I missing?