Thread

1. BennyBallTC · 1789734078 · focus · HN ↗

   Many people do not know this but he still holds the stock that he first bought as a 13y old. It is now worth 8+ figures!

   1. ricardobayes · 1789734892 · focus · HN ↗

      Maybe someone can enlighten me, but what's the point of "never selling"? Stocks are not a collectible that you can just look at for fun. Their whole point is to sell for profit, at some time. Maybe it's just me but if you "never cash out", that seems a waste of capital. Or perhaps this is a marketing stunt wealthy people sometimes to? Akin to "I live in a small house".

      1. rsprinkle · 1789735817 · focus · HN ↗

         Because if you don't sell you don't pay taxes. You can instead borrow against the asset and get a credit for the interest you pay. The joys of being filthy rich.

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