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Subject:  Re: Taxes on Investing Profits Date:  7/30/2011  8:50 PM
Author:  Goofyhoofy Number:  113826 of 127637

In 1999 I decided I would do some sales based on the froth of the market. I sold out my entire positions in AOL (owned since early 1995), in Cisco (ditto), and in a couple of other positions which had gotten wildly out of hand. I also sold a few where the ride had been up and back down (Lucent, @Home, MCI, IIRC, sue me if I'm wrong), and I had one or two small losers which helped offset just a trifle.

My tax bill that year was into six figures and yes, it hurt. It felt significantly better when the NASDAQ crumbled, AOL went from 150 to 15, and Cisco fell all over itself trying to mop the floor with its overpriced pieces of paper.

The government made some money with me. I did better for myself by doing what I thought I should. Marti said it best: don't let the tax tail wag the investment dog.

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