By Walt Hickey Securities On-paper stock losses are very advantageous to the ultra-wealthy, as they’re able to take on-paper losses and very efficiently turn them into fewer taxes. An obvious way to log on-paper losses is “wash sales,” where you sell shares in a company and then buy them again later that day in order to get some on-paper losses but pretty much maintain the same portfolio. It’s so obvious that it’s been forbidden since 1921. That said, wealth managers figured out a simple work-around, which is to sell one class of a company’s stock and then buy a different class of a company’s stock, like Goldman client Steve Ballmer did from 2014 to 2018 when his finance people were able to generate
VA has the Pappy V. 23 in an auction. Having a bit of trouble with this one. First....I normally drink Bourbon in a cocktail. You don’t really need great stuff for a Manhattan. Second....how much better can it be than one of the newer bottles. (The 15 is like $130 here.) Third....if you go by younger people’s musical wisdom, nobody likes you when you’re twenty-three.
VA has the Pappy V. 23 in an auction. Having a bit of trouble with this one. First....I normally drink Bourbon in a cocktail. You don’t really need great stuff for a Manhattan. Second....how much better can it be than one of the newer bottles. (The 15 is like $130 here.) Third....if you go by younger people’s musical wisdom, nobody likes you when you’re twenty-three.