“Finally, ... the turnover ratio is the big secret of the mutual fund industry. The average fund turns over its assets 100 percent; that means they fully sell out and buy something else, and guess who gets to pay that tax bill at the end of the year? You and I do.”
“[Unfortunately, Gardner said,] the way our tax system is set up, you only get some benefit because if you hold the stock for longer than a year, you get hit with just a 20 percent capital gains rate, which is nice. But if you hold on for less than a year, which is what day traders do, you'll be forking over taxes on your sales of stock based on your income tax bracket rate. And that, ... is why day traders are doing a great job right now of funding our highways, our prisons - and our bridges.”
“The bluff stabilization does two things. It stabilizes the bluff and prevents erosion and it wicks out moisture that forms behind the wall, preventing saturation points.”
“The firm has a product portfolio that is paced by its Secure Networks design philosophy and includes multiplayer switches, core routers, WAN routers, wireless LANs, network management and intrusion defense systems.”
