About a year ago, I spoke with an elderly MOAA widow whornhad a large position (over half her net worth) in a particular financial stock that had been in her family a long time. I suggested she might want to diversify her holdings for safety's sake. She responded: "Oh no, I couldn't possibly do that.... I would pay too much in taxes."rnOut of curiosity, I checked the current value of that stock, and it was down nearly 70 percent from when I spoke with her. She had taken a huge loss to avoid paying the 15-percent capital gains tax.
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