Word: sells
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Dates: during 1990-1999
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Analysts give TiVo, which plans to sell shares in an IPO, the early lead in the competition, noting that it has outstripped Replay in sales and investment partnerships. Last week, apparently to boost its dealmaking power with Hollywood, Replay named Kim LeMasters, former president of CBS Entertainment, as its chairman and CEO. "They have not brought me in for my ability to figure out what bugs are on the CPU," LeMasters says. "They brought me in for that portfolio I brought from Hollywood and for my different mind-set and my ability to examine the marketplace...
Part 1 of the whammy: heavy redemptions often force a fund manager to sell stocks and book gains that would otherwise be avoided, just so they can pay departing investors. Part 2: fewer remain to share the tax liability...
...ripe for large taxable distributions. Take Amerindo Technology Fund, up 389% the past 12 months. It just sold most of its huge stake in Yahoo, and says that this year it will have its first distribution since inception. Wait before buying. But if you already own, don't sell to avoid the distribution. You'd realize a huge taxable gain on your fund shares...
...After a brilliant run early this decade it has lagged badly the past two years. This year shareholders have withdrawn $2 billion more than they've put in, a drop equal to a third of the fund's assets, reports AMG Data. Manager Bob Sanborn has been forced to sell long-held stocks and realize the gain. "I'd be shocked if our distribution is not aberrationally high," he says. So don't buy now; it might even make sense to sell (I'm not) if your shares haven't gone up much. Other guideposts to a potential...
...Mine cost $6,000. They're worth it. I look at them like a real estate investment. I could turn around and sell them on eBay for so much more...