HDTenEightyP/NetNews huggingface dataset:
From: ff76@vaxb.acs.unt.edu (Jhinuk Chowdhury)
Subject: Is this a WASH SALE?
Organization: University of North Texas
Date: Wed, 23 Dec 1992 21:37:35 GMT

        If I sell shares (at a loss) of a *Vanguard* muni bond fund, say, 
and buy shares of a *Scudder* (or any other) muni bond fund (within 30 
days), would that constitute a wash sale?   

(Note:  I am referring only to the taxable losses or gains (that correspond 
to the capital losses and gains caused by the fluctuations in share price) 
and *not* the tax-free dividends associated with muni bond funds.) 

        What if I sell (at a loss) shares of Vanguard Hi Yield Muni Bond 
Fund _and_ Vanguard Insured Long Term Muni Bond Fund, and then buy 
Scudder's *Intermediate* term bond fund (within 30 days)? 

        If the preceding is *not* a wash sale, could I have bought shares 
of Vanguard's Intermediate term instead (i.e., within the same fund family) 
without violating wash sales rules? 

        I have read IRS publication 550 for 1991 (previous year's) returns, 
and I am still not sure if these constitute "substantially identical" 
securities.  The following paragraphs contain some relevant excerpts from 
that publication.   Please ignore them if you are familiar or experienced 
with wash sales regulations.  I would very much appreciate hearing from 
you, if you could resolve this for me.  Thanks in advance,   - Jhinuk. 
                         ***   ***   *** 
Excerpts from IRS publication 550 (for 1991 returns):

        "A wash sale occurs when you buy or sell stock or securities at a  
loss and within 30 days before or after the sale you buy or acquire in a 
fully taxable trade, or acquire a contract or option to buy, substantially 
identical stock or securities.  If you sell stock and your spouse or a 
corporation you control buys substantially identical stock, you also have a 
wash sale.  You add the disallowed loss to the basis of the new stock or 
security." 
        "In determining whether stock or securities are substantially 
identical, you must consider all facts and circumstances in your particular 
case.  Ordinarily, stocks or securities of one corporation are not 
considered identical to stocks or securities of another corporation.  
However, they may be substantially identical, for example, in a 
reorganization, where the facts and circumstances may be such that the 
stocks and securities of the predecessor and successor corporations are 
substantially identical." 
---
Jhinuk Chowdhury,  <chowdhur@cobaf.unt.edu> -or- <ff76@vaxb.acs.unt.edu>
From: brieck@uoft02.utoledo.edu
Newsgroups: misc.invest
Subject: Quicken & Investments
Date: 2 Jan 93 14:33:15 EST
Organization: University of Toledo, Computer Services

	Didn't I just read a couple of days ago about an add-on for Quicken?
Someone said that it was about $19 if I remember correctly.
	I recently purchased Quicken for Windows and am hoping it will help me
as I start to invest. I love the program and it works well for credit
cards/bank accounts/etc, but how well is it suited to stocks/bonds? And what can
you tell me about this add-on?

Thanks!

Brian Rieck
Newsgroups: misc.invest
From: duel@shell.portal.com (Omid M Farr)
Subject: Re: street name vs delivery
Organization: Portal Communications Company
Distribution: usa
Date: Sat, 26 Dec 1992 23:45:32 GMT

In article <1992Dec26.225559.21164@cbnews.cb.att.com> ask@cbnews.cb.att.com (Arthur S. Kamlet) writes:
>>OK guys, then explain to me what's wrong with the following scenario:
>
>I assume this is a joke, right?
>
>Just in case someone might take you seriously:
>
>>I want to take over the XYZ Corp. XYZ is public and is controlled by
>>an entity holding 55% of all shares. I go and buy the remaining 45%
>>of all shares. I hold it in a street name so that it can be shorted.
>>I subsequently short one third of my shares against the box and have
>>my partner buy it. Now I own 45% of XYZ, and my partner owns 15% of XYZ.
>
>Your partner (assuming this was legal -- it isn't)  owns 15% of XYZ
>short.

No.  His partner owns 15% of XYZ.  It just happens that the shares he bought
were shorted by him.
The partner still gets the dividends (although the shorter, himself, will end up
paying them).

I'm not sure if it is legal or not to do this in a takeover.
But it is possible for a shareholder vote to have more than 100% of the
shares accounted for because some of the owners have bought shares that 
were shorted by someone else (rather than liquidating a long position).

A more realistic scenario (which could work as long as the partners kept
quiet):
Partner A buys 45% of the company
Partner B sells short 15% of the shares that A has in his margin account
Partner C buys the 15% that partner B sold short
A & C (owning 60%) can now complete the takeover. 

I know it is possible for shareholder votes to have more than 100% ... but
I have never heard of a takeover happen like the above.

It sounds possible (legal?  maybe not).
From: McAldon International Inc. <mcaldon@igc.apc.org>
Newsgroups: misc.invest
Date: 01 Jan 93 16:00 PST
Subject: Re: Trading Places
Nf-ID: #R:1993Jan1.204034.3665@cbnewsk.cb.:-1552019893:cdp:1426500320:000:1053
Nf-From: cdp.UUCP!mcaldon    Jan  1 16:00:00 1993


|Could anyone explain to me what the strategy was for
|Eddie Murphy and Dan Ackroid(?) in "Trading Places"?
|I've watched the show twice but don't get the investment
|strategy -- how did they profit from the price of OJ
|going down?  Were they shorting?
|Michelle

In the futures market you can either buy or sell, at will.  Typically,
the speculator does not intend to take delivery when buying, or make
delivery when selling.  Folks who do take delivery of a commodity, or
deliver it at the designated time, are usually those who are using the
futures market to hedge the price of whatever they are growing, mining,
or using in manufacturing.  Once in a while somebody takes delivery of
a commodity because the price went against expectations and the speculator
expects things to change. You can find warehouses available in major
trading centers to store stuff like this.  DMcKenzie
PS: I think it's Ackroyd.

|    mcaldon@igc.org     | Opinions dispensed herein not guaranteed |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||

Newsgroups: misc.invest,ne.general,ny.general
From: MICHAEL.WILLETT@OFFICE.WANG.COM ("Michael Willett")
Subject: John Hancock's Nancy Davis Extends Seasons Greetings to NE/NY
Organization: Mail to News Gateway at Wang Labs
Date: Thu, 24 Dec 1992 18:58:45 GMT

John Hancock's Nancy Davis extends Seasons Greetings, Merry Christmas, and
Happy New Year to all you clients and friends in the New England or New
York area.  She's not on the network so you can reach her at 617-969-9830
or FAX your Christmas cards to her at 617-969-2251!

Michael.Willett@OFFICE.Wang.com
From: jordan@IMSI.COM (Jordan Hayes)
Newsgroups: misc.invest
Subject: foreign stocks
Date: 27 Dec 92 17:33:19 GMT
Organization: Investment Management Services Inc., NYC

Someone said:

	The problem with these stocks is how do you follow them?

Indeed, the further away from a good timely source of information you
get, the less of a speculator you can be.  If, on the other hand,
you're an investor, the timeliness of your information can be lax.
You'll find info on this particular stock weekly in Barrons, and if you
have a broker that'll trade them for you, they can also be counted upon
to quote for you.  After all, you're paying them for something, aren't
you?

/jordan
Newsgroups: misc.invest
From: mparks@cbnewsk.cb.att.com (michelle.lim)
Subject: Trading Places
Organization: AT&T
Distribution: usa
Date: Fri, 1 Jan 1993 20:40:34 GMT
Keywords: Eddie Murphy

Hi,

Could anyone explain to me what the strategy was for
Eddie Murphy and Dan Ackroid(?) in "Trading Places"?
I've watched the show twice but don't get the investment
strategy -- how did they profit from the price of OJ
going down?  Were they shorting?

Michelle
Newsgroups: misc.invest
From: koziarz@chinet.chi.il.us (Louis Koziarz)
Subject: Re: AMD - what's your opinion?
Organization: Chinet - Public Access UNIX
Date: Tue, 29 Dec 1992 20:42:19 GMT

>Can AMD really expect to have any kind of technical advantage over Intel?

Maybe not, but I can buy AMD FLASH chips right now, and Intel's quoting me
at least three months before I can see quantity, if not more.  Intel 
gambled on flash fabs and they're losing.

I'm also reading an article here about a joint venture between AMD and
C-Cube for MPEG/JPEG technology.

I'd take the microprocessor issue as a small part of a bigger picture...

-- 
Louis Koziarz
koziarz@chinet.chi.il.us

Caught a SIGSEGV - .newsrc trashed
Newsgroups: misc.invest
From: janardan@myria.cs.umn.edu (Ravi Janardan)
Subject: "Mutual Fund Forecaster" -- opinions sought
Keywords: mutual funds, newsletter
Organization: University of Minnesota, Minneapolis, CSci dept.
Distribution: usa
Date: Tue, 22 Dec 1992 06:29:05 GMT


I received the above newsletter in the mail along
with an offer for a 1/2-price charter membership ($49/year) 
and lots of other goodies thrown in for free (guaranteed
1/2-price renewal for life, the book "Stock Market
Logic" by a Norman Fosback, "bonus" reports, etc.  etc.)

The newsletter appeared to be good enough (at least
at first sight) to spark my interest and
I was wondering if those of you out there who have subscribed
to it could share their opinions/experiences. In particular,
(i) how accurate have the predictions and the buy/sell/hold
recommendations been in the past, (ii) how credible is
this Fosback guy, (iii) is the book really all that it
is trumpeted to be, (iv) are there other
comparable/better newsletters you'd recommend etc.

Thanks in advance,

Ravi Janardan
From: vnoble@dhvx20.csudh.edu
Newsgroups: misc.invest
Subject: READ/NEW/FOLLOWUPInvest in software development in Russia
Date: 22 Dec 92 19:14:22 GMT
Organization: CSU, DOMINGUEZ HILLS

Hi out there in NETland!

I am contemplating investing some money in software development in Russia and
selling it here in US.  It seems to be a good idea since software is a heavily
labor-consuming product with little hardware investment required to start it
out.  As you know, Russia now has a lot of skillful mathematicians, physisists
and programmers who are actively seeking an opportunity to earn any hard
currency.  With exchange rate at rediculously low level and the cost of labor
which is THE cheapest in the world, Russia looks like a heaven for software
development.  Besides, I was born there and lived there until about 5 years
ago, so it is reletively easy for me to establish right contacts.

I would like to solicit your opinion on the following matter.  Short time ago I
encountered an ad of a Russian software company offering different products such
as computer graphics, PC games, learning packages for children with game
elements, and so on.  My question is: Can I try to become a distributor of
their products in US and what kind of agreements are generally required? If I 
had a distribution or licencing agreement with those guys, how would I go
about selling this stuff here? Is there a market for, say, PC games or 
learning packages?  How can I interest big software resellers like CompUSA
or Egghead to carry them? Unfortunately, I do not have any experience in
selling software, so any info on this will be highly appreciated.

You can E-mail me at Vnoble@dhvx20.csudh.edu.

Thank you for taking time to read this.

Vladimir Noble
From: rravi@cbnewsj.cb.att.com (ramesh.ravi)
Newsgroups: misc.invest
Subject: Re: Condemned by Barron's--Is it significant????
Date: 23 Dec 92 21:02:26 GMT
Distribution: usa
Organization: AT&T

In article <Bzq8uH.9E2@cs.uiuc.edu>, watanabe@cs.uiuc.edu (Larry Watanabe) writes:
> calinski@calspan.com (Peter Calinski) writes:
> 
> >I'm not a regular reader of Barron's but, in the past year, I know of two 
> >stocks, Marvel and Conseco, that were bashed by Barron's. Of course, in 
> >both cases, the stock fell a considerable amount.  However, also in both cases,
> >within a year, both subsequently hit new highs.
> 
> >Does anyone know of other cases where Barron's screws up like this?
> 
> >Do they always get it wrong?  Looks like a way to make money big time.
> 
> >I heard on Monday that Barron's knocked another stock (I can't remember the 
> >name but I think it started with an M.  It dropped something like 8 to $24).
> 
> >Comments please.
> 
> >Pete
> >calinski@calspan.com
> 
> I heard that one of the writers of "Heard in the Street" was
> prosecuted a few years back for insider trading. Apparently
> he was accepting money for advance information.
> 
> Talking about suspicious patterns, SoftwareTools got a big
> boost because of a plug by the manager of the Acorn Fund,
> in this weeks Barrons. The boost occurred over 2 days -- 
> the Friday (i.e BEFORE Barrons comes out) and Monday.
> 
> You can't sell short except on an uptick. I doubt that there
> would be an uptick after the article from Barrons. So,
> you couldn't really make money off of it. Actually
> the stock might open immediately at a lower
> price.
> 
> On the other hand, if you could get the information on 
> the Friday before Barron's came out, then you definitely
> could make money big-time (which is what I'm guessing 
> happened with Software Tools).
> 
> -Larry Watanabe watanabe@cs.uiuc.edu

Actually Software Toolworks went up most of the last week because of the
recommendation from Dan Dorfman from CNBC. I think he recommended sometime
in the beginning of the last week and the TWRX went up from around 5 dollars
to 7 dollars and after the recommendation in Barrons this Saturday it went
up another 1 1/8 on Monday before it backed off 1/2 yesterday.

Ramesh Ravi
ramesh@nra0.att.com
(908)615-5082
From: proto@hri.com (Rich Proto)
Newsgroups: misc.invest
Subject: IPO: Ultralife Batteries
Date: 22 Dec 92 19:49:10 GMT
Reply-To: proto@hri.com
Organization: Horizon Research, Inc.


Ultralife Batteries is going public, probably tomorrow. If anyone knows anything
about this company, other than what was written in Barrons on 12/21 and Investors
Business Daily on 12/17 I'd appreciate the onfo. 

Thanks
Newsgroups: misc.invest
From: blh@uiboise.idbsu.edu (Broward L. Horne)
Subject: Sell, Japan, SELL!
Date: Tue, 22 Dec 92 15:11:50 MST
X-Received: by usenet.pa.dec.com; id AA05331; Tue, 22 Dec 92 16:01:48 -0800
X-Received: by inet-gw-2.pa.dec.com; id AA18668; Tue, 22 Dec 92 16:01:32 -0800
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	(16.6/16.2) id AA00435; Tue, 22 Dec 92 15:11:51 -0700
X-To: misc.invest.usenet
X-Mailer: Elm [revision: 66.25]


      yo, Japanese dudes...


      If YOU don't sell YOUR Tokyo real estate, well,
      you can bet that some guy with a marginal stake in
      it will.

      Be on top of the slab.  
      Or be under it.

      Boom!

      As California real estate slowly sinks into the sunset....
From: schindler@csa2.lbl.gov (AARON SCHINDLER)
Newsgroups: misc.invest
Subject: Re: have to use tax 1040 form?
Date: 3 Jan 1993 11:48 PST
Organization: Lawrence Berkeley Laboratory - Berkeley, CA, USA
Distribution: usa
NNTP-Posting-Host: 128.3.254.197
News-Software: VAX/VMS VNEWS 1.41    

In article <1hvmq9INN3ga@CASPER.NA.CS.YALE.EDU>, chang-mark-yan-ming@cs.yale.edu (Mark Yan-Ming Chang) writes...

>The tax instructions say one needs to use form 1040 if one has capital gains.
>I guess this includes capital gains from mutual funds. True?

True, unfortunately.

|=======================================================================|
| Aaron Schindler                                Schindler@csa.lbl.gov  |
|                                                                       |
|=======================================================================|
From: masimo@netcom.com (Michael Maas)
Newsgroups: misc.invest
Subject: Re: IBM: What's your bottom line?
Date: 28 Dec 92 22:51:36 GMT
Organization: Netcom - Online Communication Services (408 241-9760 guest)

In article <4250052@hpcc01.corp.hp.com> lynch@hpcc01.corp.hp.com (Howard Lynch) writes:
>So, what's your bottom line:
>
>	If you owned IBM stock right now, would you sell it?
>

I do, and I'm not.  I'm waiting for another opportunity to sell covered
calls on it.  

>Thanks for any/all feedback (especially insider :-)!
>
>Howard Lynch
>hl@hpocia.sj.hp.com

Mike Maas
From: loszewski_im@hnrc.tufts.edu
Newsgroups: misc.invest
Subject: Mutual Funds or I.R.A.'s?????
Date: 30 Dec 92 14:35:05 GMT
Organization: USDA HNRC at Tufts University

Thanks for all the replies I got to my post regarding mutual funds.  I realize
I need to get into the reading and research, but I would like everyone's 
opinions on one other thing.
Being 23, which would be better to invest in, mutual funds, or an I.R.A.??

thanks in advance

-Rob
Loszewski_im@hnrc.tufts.edu
Newsgroups: misc.invest
From: ask@cbnews.cb.att.com (Arthur S. Kamlet)
Subject: Re: Tax Questions
Organization: AT&T Bell Laboratories,  Columbus, Ohio
Distribution: usa
Date: Fri, 25 Dec 1992 07:37:43 GMT

In article <1992Dec18.235800.24106@cbfsb.cb.att.com> klur@cbnewsb.cb.att.com (david.s.klur) writes:
>1.  I currently own some AIM-Weingarten MF shares, and I would
>    like to sell them to rrealize a capital loss for tax 
>    purposes.  If I transfer my investment to the AIM-Constellation
>    Mutual Fund, can I still realize a capital loss on the shares
>    that I have "sold"?

Probably.

I don't know these particular funds, but usually different funds in
the same family are not likely to be "substantially identical"
investments.  So you would probably not have a wash sale.   You can
call the fund mgr and ask if the IRS has, to their knowledge, ever
determined that two funds were "substantially identical."

>2.  Quoting from the MFF, "Foreign governments usually withhold taxes
>    on dividends and interest earned in their coountries by American
>    Mutual Funds.  U.S. shareholders of such funds are entitled to a
>    deduction or a dollar-for-dollar tax credit equal to their pro-rata
>    share of the amounts withheld.  The tax-credit is always more 
>    valuable, and is claimed by filing a Form 1116 with your tax return."

the problem is the form 1116 is not written is a way to make it easy
to take the tax credit.  Without the form 1116 the IRS would not
allow the credit.  But it's still a good idea to try for it anyway.

>    I'm not sure what this means, but I own some shares of a closed-end
>    mutual fund investing overseas (The Iberian Fund).  Is there some
>    tax benefit I can realize?

The fund manager will send you a 1099-DIVC which will also list
foreign taxes paid buy you.  You really gave up these taxes.  Now
the IRS let's you take either a tax credit or a deduction.  Go for
it.

>3.  Can I deduct the following expenses from my income?
>	+ mutual fund fees
>	+ broker fees

The mutual fund fees have the effect of lowering the income you
ordinarily would have received from the fund and also of lowering
the fund's NAV.  That's quite enough damage.  You don't get to
separately deduct them since by reporting less income and a lowered
capital gain when you sell, you will sort of deduct the expense that
way.

Broker fees reduce the income you receive for the sale, and add to
the cost of buying the fund shares, so the net costs to you will
take care of the broker fees.   When you fill out your 1040/Sch D
you will list the net costs. receipts.
-- 
Art Kamlet  a_s_kamlet@att.com  AT&T Bell Laboratories, Columbus
From: rv01@harvey.gte.com (Robert Virzi)
Newsgroups: misc.invest
Subject: Re: "Market efficiency"
Date: 23 Dec 92 13:38:35 GMT
Organization: GTE Laboratories

I just want to add a note on "Market Efficiency."  In its simplest form,
"THE stock market is efficient," the theory is flawed.  However, if
the hypothesis is restated to, "there is efficiency across ALL markets,
including US and international stock, bond, money, and commodity markets,"
I think it is basically true.

In the more comprehensive form, we see that apparent anomalies in one
market, say the US stock market, may be explained in terms of conditions
in other markets, the US bond market, for example.  When you look at the
whole picture, you can see how large (and I do mean large) sums of money
flowing between types of investments can cause temporary inefficiencies
until the underlying fundamentals are brought into alignment.

Two points of clarification on the above argument.  (1) It applies to
overall market valuation, not to the valuation of specific stocks. This
case was discussed in the group re: Tulip Bulbs and Mississippi Shares.
(2) Efficient does not necessarily equal rationale.  Although the relevant
information is integrated into the price of the {stock|bond|commodity} do
not forget that it passes through a human filter.  So peoples perceptions
of the meaning of the information are reflected, and people are not always
rationale.  In the great majority of cases I think people are rationale
in evaluating investments.  There are cases, however, when emotions play
the predominant role.  These don't last long, however.

My ramblings, anyway.

-Bob



-- 

  rvirzi@gte.com             Think Globally. ===
  +1(617)466-2881                            === Act Locally!
From: schindler@csa3.lbl.gov
Newsgroups: misc.invest
Subject: Re: What good is a non-deductible IRA?
Date: 29 Dec 1992 21:58 PST
Organization: Lawrence Berkeley Laboratory - Berkeley, CA, USA
Distribution: usa
NNTP-Posting-Host: 128.3.254.198
News-Software: VAX/VMS VNEWS 1.41    

>True.  However, assume you can invest and get an overall 8% return.
>Also assume that you are in the 33% bracket.  So your marginal rate
>is at least 33%, maybe higher depending on state/city.  So, that means
>your aftertax return is only 5.36%.  An example...
>$1000 invested for 15 years at 8% = $3320 for $2320 in earnings
>$1000 invested for 15 years at 5.36% = $2234 for $1234 in earnings.

>Now tax away 43% (33% + 10% penalty) of $2320 = .57(2320) = $1322 after taxes
>on the IRA distribution.  So even with the penalty, you come out better after
>15 years.  If you can afford to leave the money in even longer, you do even
>better.  After all, e^(.08*t) is always e^(0.0264*t) larger than e^(0.0536*t).
>Eventually that difference will more than make up for the 10% penalty.  And

>Rich Carreiro                                  Home: (401)841-8514

To be fair, we should also include the 10% penalty on the principle if you
withdraw it from the IRA.  Then your net is $900 principle + $1322 earnings
= $2222 if you put the money into an IRA.  Compared with the $2234 in the
taxable account, we see that even after 15 years you are better off NOT
in the IRA if you must withdraw before 59.5 years old.  

|=======================================================================|
| Aaron Schindler                                Schindler@csa.lbl.gov  |
|                                                                       |
| There are two times in a man's life when he should not speculate:     |
| when he can't afford it, and when he can.        --Mark Twain         |
|=======================================================================|

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