Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Microcap & Penny Stocks : FRANKLIN TELECOM (FTEL) -- Ignore unavailable to you. Want to Upgrade?

To: STK1 who wrote (35318)	6/27/1998 7:28:00 PM
From: David Colvin	Read Replies (1) \| Respond to of 41046

Charles, About a year ago I transferred over twenty mutual funds to Fidelity Investments. Do you think they even have a clue as to what I paid for which shares, much less which ones I bought first or last? I do..I have confirmations from the mutual fund themselves...every last one. I have since sold some of those shares. If I called the funds what do you think they would tell me...look at all my past confirmation statements. What else could they do? Further, I have entered every last purchase in Quicken and can, in detail, correlate all transactions to the mutual confirmation statements going back to day one. Once, when selling an equity, I asked the Fidelity representative to "earmark" certain shares for the sell and he indicated that they weren't wild about doing it. That was enough for me. If the IRS comes calling I will be able to identify every last transaction, with confirmation statements. I am the only one who has this sort of detail...not Fidelity or anyone else. If the IRS doesn't like it they can sue me and I'll guarantee you I will win. The only requirement the IRS stipulates for each equity/mutual fund is that you either identify specific shares to sell (if you can) or do the FIFO routine, but you can't switch in mainstream, at least not with that particular equity/mutual fund. Dave