Welcome to European Tribune. It's gone a bit quiet around here these days, but it's still going.
  1.  What Mig said.  Taxes are on profits, not trades. The tax on trades is just commissions which are virtually nothing these days on computer executed blocks.  Plus the bid/ask losses.

  2. your contention that the entire market is a bubble at the moment is not supported by the facts as I see them.

The average P/E of the S&P 500 is only 16 X if the Yahoo financial page is accurate.  That implies a 6% profit across the big companies that are probably 80% of the market value.  It's been lower when interest rates are much higher but this is hardly Ponzi leverage.  You are grossly overgeneralizing.

You are comparing the apples of Enron/CMGI/Lucent with the oranges of Coca Cola, Merck, etc.  

by HiD on Thu Mar 22nd, 2007 at 06:57:20 PM EST
[ Parent ]

Others have rated this comment as follows:


Occasional Series