Let me say publicly that DonBoy’s answer exudes a combination of intuitive genius and confidence that make me think DonBoy is going to do big things in his life. -- Steven D. Levitt (Freakonomics blog)
Monday, April 11, 2005
Let's see, if AT&T spun off AT&T Wireless in July 2001, on a 77.66%/22.34% basis, and then in November 2002 AT&T spun off Comcast on a 37.4%/62.6% basis, and then AT&T Wireless was bought by Cingular in 2004, causing a taxable event, and you paid $XXXX for the AT&T shares in the year 2000: quick, what the basis of the forced sale of your AT&T Wireless shares? What's the basis of your AT&T shares, and your Comcast shares, both of which you continue to hold? And do you really think it was a good idea to ignore those letters from AT&T explaining all of this when it happened?
Thank God for ETrade's online copies of all monthly statement, and various companies' Investor Relations sections of their web sites.