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Many stock options in the corporate world have worked in exactly that fashion: they have gained in value simply because management retained earnings, not because it did well with the capital in its hands.
Warren Buffett
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Warren Buffett
Age: 94
Born: 1930
Born: August 30
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Nebraska
Warren Edward Buffett
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I have worked with investors for 60 years and I have yet to see anyone - not even when capital gains rates were 39.9 percent in 1976-77 - shy away from a sensible investment because of the tax rate on the potential gain.
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The fact that people will be full of greed, fear, or folly is predictable. The sequence is not predictable.
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