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How to make $200 Million from a $45 investment

https://d70users.net/viewtopic.php?f=5&t=39706

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How to make $200 Million from a $45 investment

PostPosted: Wed Jul 28, 2010 1:53 pm
by whitey
http://www.theaustralian.com.au/news/ar ... 5897897303 Wow, I gotta start checking out garage sales.

Re: How to make $200 Million from a $45 investment

PostPosted: Wed Jul 28, 2010 4:50 pm
by Reschsmooth
whitey wrote:http://www.theaustralian.com.au/news/arts/ansel-adams-negatives-bought-at-garage-sale-worth-200m/story-e6frg8n6-1225897897303 Wow, I gotta start checking out garage sales.


Saved me posting this.

On a serious note, the Aust government is looking to ban self managed super funds from buying artwork. Imagine, however, if you bought such a piece within your fund and sold it for a capital gain of AUD222,999,950, tax free! You would be pretty happy with that, I would imagine.

Re: How to make $200 Million from a $45 investment

PostPosted: Wed Jul 28, 2010 5:03 pm
by surenj
Reschsmooth wrote:ban self managed super funds from buying artwork

Didn't know about this rule. Sounds like a big loophole in general.

Re: How to make $200 Million from a $45 investment

PostPosted: Wed Jul 28, 2010 5:43 pm
by Reschsmooth
surenj wrote:Didn't know about this rule. Sounds like a big loophole in general.


Which loophole? Up until and including now, self managed funds can buy artwork, wine, exotic cars, anything. There are very specific rules as to the process of acquisition and use. So, no loophole. An investment is an investment - if you think it will do well, why not?
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