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March 21st 04, 02:53 PM
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Opus Penguin wrote: Keith KC8TCQ wrote: If you had purchased $1000.00 of Nortel stock one year ago, it would now be worth $49.00. Wrong! http://finance.yahoo.com/q/bc?s=NT&t=1y If you bought $1,000 of Nortel 1 year ago, you would have $2,750 today. With Enron, you would have $16.50 left of the original $1,000.00. Wrong. Enron went belly up. You would write off the loss on your taxes, and the US Government would have eaten $400 of the $1,000 loss, and additionally you could have used the loss to write off offsetting gains in other dividends. Maybe not on your 1040EZ, but on a real 1040. With WorldCom, you would have less than $5.00 left. Wrong. My MCI stock added me to a class action suit. Everyone with stock is in this class action. Expect the suit to yield about 40 cents on the dollar, and as above you would have already written off the loss to offset other gains. But, if you had purchased $1,000.00 worth of Bud (the beer, not the stock) one year ago, drank all the beer, then turned in the cans for the aluminum recycling price, you would have $214.00. Wrong. A 12 pack of Bud is about $7.99, plus can deposit (you pay it up front) and tax. That will yield you about 1,200 cans of beer. Since a can will get you back 5 cents, that is $60 in returns. Bulk aluminum is about 10% of what you can get by returning the cans to supermarkets, so that would return $6 to you. it was a tongue in cheek post to begin with... |
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