How to Make Money in Stocks Without Paying Taxes
This article is for subscribers only.
In his wonderful book Reminiscences of a Stock Operator, Edwin Lefèvre describes learning the basics of investing by frequenting “bucket shops”—parlors that allowed customers to bet on the direction of stock movements without actually buying or selling shares. Bucket shops were outlawed in the U.S. a long time ago. So I was surprised to learn from Bloomberg this morning that they are alive and flourishing in the U.K.
Bloomberg’s Kevin Crowley writes about WorldSpreads Group, a small “spread-betting” firm that collapsed in March. WorldSpreads lost nearly $2 million in the 12 months through March 31.