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Filmmaker
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2,719 Posts
Discussion Starter #1
I was an idiot when I was ten years old I bought some microsoft stock at its highest value, so it is basicly worth nothing to me now. People have been telling me to hold on to it but it certainlty will never make me my money back. My question is GME(Gamestop) has been doing well even in this terrible economy. Should I sell and buy that? I mean they are even expanding their business model and doing well. I know you are suppposed to buy when it's low but their activity has been nothing but positive. Thoughts?


Matt
 

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1,394 Posts
If it weren't for the anti trust laws, I would actually say hold for long. But this isn't friendly atmosphere for that stuff. Honestly, buy bags of raw silver, they usually come as old US coins that actually have real value.

Or guns.
 

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King of the Jungle
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1,265 Posts
Just make sure that when you sell, take full advantage of the tax benefits from reporting such a big loss on your Schedule D.
 

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Filmmaker
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Discussion Starter #6
Just make sure that when you sell, take full advantage of the tax benefits from reporting such a big loss on your Schedule D.
I know nothing about such things how would I benifit on my taxes from this loss?
 

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King of the Jungle
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I know nothing about such things how would I benifit on my taxes from this loss?
Big writeoff. If you bought at the peak, you're probably taking an 80% loss if you sell now. This is easily entered into a program such as Turbotax or Taxcut or for more information I would contact an accountant. A capital loss can help offset other taxes big time.
 

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Laughing at u not with u
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149 Posts
It really all depends on what you want to do with your money and how much of it is actually in the market. Theres plenty of ways to profit in this down economy with no risk at all.

If you wanna play the game tho I would seriously recommend doing some research on you picks before you pull the trigger.
 

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Glad to be back
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2,180 Posts
If it weren't for the anti trust laws, I would actually say hold for long. But this isn't friendly atmosphere for that stuff. Honestly, buy bags of raw silver, they usually come as old US coins that actually have real value.

Or guns.

No kidding on the guns. If you were to buy a couple FN-57s I bet you'd probably double your money. Thats if Obama does the ban again.
 
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