I think that it is better to create a separate thread to continue on the above title instead of OTing in the original thread.
A continuation from here :
http://www.clubsnap.com/forums/kopitiam/1250335-boston-marathon-kena-bombed-2.html
No need to afraid of IRAS knocking on your doors as captial gains from stock markets are not taxable.
As for how the lecturer obtained the cash of $500k or $1.6m to buy the shares, I wouldn't want to speculate. A NTU lecturer earns more than $12k per month; annual income of more than $100k easily. He could have savings, properties on hands, etc which can be pledged as collaterals to obtain the financing to buy those shares.
Putting the lecturer aside who is considered as an high income earner, There are many cash rich people around. It is just like we don't know.
You won't know who are cash rich around you such as your closest friends, colleagues, relatives or sometimes even family members because most people do not want people to know their wealth.
A continuation from here :
http://www.clubsnap.com/forums/kopitiam/1250335-boston-marathon-kena-bombed-2.html
not so loud! IRAS reading this . to make 1.4m for $6 per share means $6k per lot...around 200++ lots.
$8 x 200 000 = $1.6 mil (cash) , $500 k (approx 1:3 margining - high risk!)
so...anyone have half a million lying around? or $1.6m ?
anyway for $6 - $14 is not spectacular, it is only 1.3x .
Spectacular is Golden Agri, 15c during financial crisis -> 80c peak that is more than 5x ups. and everyone can afford $150 per lot right? its as expensive as a 50 1.8 lens only
No need to afraid of IRAS knocking on your doors as captial gains from stock markets are not taxable.
As for how the lecturer obtained the cash of $500k or $1.6m to buy the shares, I wouldn't want to speculate. A NTU lecturer earns more than $12k per month; annual income of more than $100k easily. He could have savings, properties on hands, etc which can be pledged as collaterals to obtain the financing to buy those shares.
Putting the lecturer aside who is considered as an high income earner, There are many cash rich people around. It is just like we don't know.
You won't know who are cash rich around you such as your closest friends, colleagues, relatives or sometimes even family members because most people do not want people to know their wealth.