From: jeffrey E. <jeevacation@gmail.com> Sent: Saturday, August 16, 2014 8:41 PM To: Vincenzo lozzo Subject: Re: Taxes taxes are variable friciton On Sat, Aug 16, 2014 at 4:36 PM, V=ncenzo lozzo wrote: So quick question for you: are taxes a trick= Here's what I mean, I think (gut feeling - no proof) that there are pot=ntially a number of arbitrage/risk-free opportunities that are not tackled=by anybody because when you add in taxes you don't actually make money= Is 'hacking' taxes a strategy? It seems like all the academic texts=leave that part for the reader which makes me think there's something =here. Also I was reading a while ago that rentech was using a weird structure wit= Credit Suisse (iirc) where they were taxed on their profits as if i= was long-term capital gains instead of short-term. Sent from my (phone =C2 please note The information co=tained in this communication is confidential, may be attorney-client pr=vileged, may constitute inside information, and is intended only for JEE Unauthorized use,=disclosure or copying of this communication or any part thereof is stri=tly prohibited and may be unlawful. If you have received this commun=cation in error, please notify us immediately by return e-mail or by e-mail to jeevacation@gmail.com <mailto:jeevacation@gmail.com> , and destroy this communication =nd all copies thereof, including all attachments. copyright -all rights=reserved EFTA_R1_01769195 EFTA02588293