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You might have a lot of short-term gains if, for example, you do day trading (and are good at it) or if you are in certain hedge funds.
FORBES: Fidelity's Giant Loss Harvesting Tax Dodge
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Bertram Klektau, an eToro client in Dresden, Germany, whose firm manages mutual funds, says he carefully picked a list of "gurus" last summer to do his trading based on their returns on the site, and promptly watched two in the group rapidly lose his money.
WSJ: Currency Traders Follow the Leader | WSJ.Money Summer 2013
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And then when you add on top of that that we have seen in microcosm as they come out of this rescue the American taxpayer-provided safety net support, and you've seen these -- some of these financial institutions get -- using the cheap money they can get because of that safety net to do proprietary trading for their own profits, not for any client.
WHITEHOUSE: Press Briefing