Rule #1 Dont loose money!

Sounds easy enough.   But I didnt find out what the rule was untill I started reading Phil Town’s book “Rule #1, The Simple Strategy for Successful Investing in only 15 minutes a Week!”

Im not finished  with the book yet but I can tell you this.  Its very easy to understand his thought process.  Phil Town has broken down his strategy in a way that normal people, like us hunters can understand.

Phil has a few things in common with us hunters.  First off before becoming a successful Investor, he was a river guide.  He loves being outdoors like us.   Another trait he has or actually had, was he was letting his mutual fund manager worry about his retirement nest egg. 

In his book he shows us how he turned $1,000 into $1 million in only five years then proceeded to make many millions more!

So Im half way through the book and tomorrow I’ll be reading a few more chapters while sitting in my treestand.  All though, I may not have to much time to read.  The rut in coming into full swing this week (I think cause the signs are there) and I hope the action is hot this weekend.

So I’ll be doing my home work in the treestand. Later,

Basic Questions About Capital Gains and Losses

Answers for people who are new to capital gains and losses.

We all start with zero knowledge and go on from there. Here are some basic questions people sometimes ask about capital gains, along with answers.

Q: My stocks went up but I didn’t sell yet. How much gain should I report?

A: None! As a general rule you don’t report capital gain or loss until you sell. There are exceptions, such as when you receive capital gain distributions from a mutual fund.

Q: I bought stock for $1,000 and sold for $1,200. My gain was only $200 but my broker reported $1,200 to the IRS. Help!

A: Brokers don’t report the amount of gain. They report the amount you received on the sale. It’s up to you to report the sale properly on your return, indicating the correct amount of gain or loss.

Q: Does a capital gain increase my income?

A: There’s a vague notion out there that capital gains aren’t income because they’re taxed at their own special rates. Folks are hoping, perhaps, that capital gains won’t count when they determine whether they can deduct an IRA contribution, or how much of their social security benefit is taxable, or how much of their exemptions are phased out, among other things. Unfortunately, capital gains are income. A special calculation provides the lower capital gains rate, but doesn’t remove capital gains from your overall income (or adjusted gross income).

Q: Does a capital loss reduce my income?

A: As a general rule, you can deduct capital losses up to the full amount of your capital gain plus $3,000. If your capital losses exceed your capital gains by more than $3,000, the excess is carried forward to the next year.

Q: I’m in the 15% bracket. Why do I have to pay 28% on some of my capital gain?

A: You don’t. If you have a 28% capital gain, you pay your regular rate or 28%, whichever is lower. The same is true for a 25% gain.

Q: I’m concerned that a capital gain will push my other income into a higher tax bracket. Doesn’t this mean the real cost of a capital gain is higher than it appears?

A: No, capital gain is “stacked” on top of your other income, so it won’t push the other income up into a higher tax bracket. As we pointed out earlier, a capital gain increases your income, and that could cause you to lose a benefit somewhere. For example, your exemptions or itemized deductions might be reduced when you have a capital gain. So there can be some indirect tax costs when you have a capital gain. But your other income stays in the same bracket when you have a capital gain.

Q: My mutual fund reported that I sold shares even though I didn’t take any money out! Why?

A: If you move money from one fund to another within the same family of funds, you’re selling one fund and buying the other. If the first fund went up before you made the move, you have to report a gain and pay tax on it. Consider the tax consequences before moving money to a different fund, even within the same family of funds!

Q: I had capital gains in my IRA. How much tax is owed, and who has to pay it?

A: Until you take the money out, the answer is no tax. But when this money comes out of your IRA, you’ll have to report it as ordinary income — not capital gain. Of course, if you have a Roth IRA and meet all requirements you’ll pay no tax at all.

Q: I have some stocks that went up, and I’m ready to sell. I want to transfer them to my son and have him sell them because he’s in a lower tax bracket. Does this work?

A: Not if you’re planning on getting the money back from your son. If you make a legitimate gift, and don’t get anything back, then the gain will be taxed on your son’s return. Even then, the tax might not apply at a lower rate because of the “kiddie tax.” And you need to be aware of potential gift tax consequences, too.

Q: I have some stocks that went down, and I’m not ready to sell because I think it’s going back up. Can I sell it for the loss and then buy it back right away?

A: You won’t be able to deduct the loss if you buy back right away, because of the Wash Sale Rule. You need to wait at least 31 days before buying the same stock again if you want to claim a loss.

Oh Yes he did!

Cooper, founder and part owner of Cooper Firearms, told USA TODAY in a story published Tuesday that he has voted for Republicans for most of his life, but he is backing Obama “probably because of the war. And also because the Republican Party has moved so far right in recent years.” Cooper said he was attracted to the Democrat’s message about “the retooling of America, which involves the building of middle-class jobs and helping American small business be competitive with those overseas.”

Cooper contributed $3,300 to Obama’s presidential campaign, according to election records complied by the non-partisan CQ MoneyLine.

The USA TODAY article sparked outrage from some gun owners and bloggers, including an open letter on a blog called Firearms and Freedom, urging people to boycott the company’s products. Many gun enthusiasts believe Obama will try to restrict their right to bear arms, although he has said he respects the Second Amendment.

To read the rest of this crap click here on USA Today,

Outdoor Channel Holdings Reports Strong 2008 Third Quarter Results

Smith & Wesson Fills M&P9 Pistol Order for Iraqi Military and Security Forces

SPRINGFIELD, Mass., Oct. 30 /PRNewswire-FirstCall/ — Smith & Wesson Holding Corporation (Nasdaq: SWHC), parent company of Smith & Wesson Corp., the legendary 156-year old company in the global business of safety, security, protection and sport, announced today that it has shipped 7,500 M&P9 pistols to the U.S. Armed Forces in Iraq for distribution to Iraqi military and security forces. The procurement order was issued by the U.S. Army Tank-Automotive and Armaments Command. Smith & Wesson will also supply supplemental accessories and spare parts for the firearms.

Leland Nichols, Senior Vice President of Sales and Marketing of Smith & Wesson Holding Corporation, said, “We are extremely pleased that the M&P9 pistol was selected for use by the Iraqi government for its military and police forces. Since its introduction in January 2006, the M&P pistol series has been selected for purchase or as an approved firearm by over 430 law enforcement and security agencies in the United States and 16 other countries throughout the world. Today’s announcement reflects the first order we have received for shipment of the M&P9 into Iraq. Its performance continues to demonstrate that the M&P polymer pistol series is highly suitable not only for law enforcement and personal protection, but also for use by military professionals.”

Engineered to become the handgun of choice for global law enforcement and military personnel, the M&P pistol design is based on input from numerous law enforcement and military organizations. Manufactured with a Zytel(R) polymer frame reinforced with a rigid stainless steel chassis and a through-hardened black Melonite(R) finished stainless steel barrel and slide for added durability, the M&P pistol benefits from enhanced shootability along with a reduction in felt recoil. Other standard features of the M&P pistol include three interchangeable grip sizes; a sear release lever that eliminates the need to press the trigger to disassemble the firearm; an ambidextrous slide stop; reversible magazine releases and a passive trigger safety to prevent the firearm from firing if dropped. The M&P9 has a 17 + 1 capacity and the pistol series is available in 9mm, .40S&W, .357SIG, and .45ACP calibers. Compact versions of the M&P pistol are also available for concealed carry and back-up use.

Nichols, added, “In addition to the M&P9s currently used in Iraq, Smith & Wesson firearms have also been used in active duty for the last two years with several security forces in Afghanistan including the Afghanistan National Army and Border Patrol as well as the Afghanistan National Police. To date, over 80,000 Smith & Wesson firearms are currently being used in these two countries. Reports from the field continue to indicate that the firearms are exceeding all expectations in the areas of reliability and durability. We are honored to continue delivering firearms that support men and women serving in Iraq and Afghanistan and we remain committed to supplying high-quality small arms to the military and federal government.”

About Smith & Wesson

Smith & Wesson Holding Corporation, a global leader in safety, security, protection and sport, is parent company to Smith & Wesson Corp., one of the world’s largest manufacturers of quality firearms and firearm safety/security products and parent company to Thompson/Center Arms, Inc., a premier designer and manufacturer of premium hunting rifles, black powder rifles, interchangeable firearms systems and accessories under the Thompson/Center brand. Smith & Wesson licenses shooter protection, knives, apparel, and other accessory lines. Smith & Wesson is based in Springfield, Massachusetts with manufacturing facilities in Springfield, Houlton, Maine, and Rochester, New Hampshire. The Smith & Wesson Academy is America’s longest running firearms training facility for law enforcement, military and security professionals. For more information on Smith & Wesson, call (800) 331-0852 or log on to www.smith-wesson.com. For more information on Thompson/Center Arms, log on to www.tcarms.com.

Industry Contact: Gary Giudice
Blue Heron Communications
(800) 654-3766
gary@blueheroncomm.com

Liz Sharp, VP Investor Relations
Smith & Wesson Holding Corp.
(480) 949-9700 x. 115
lsharp@smith-wesson.com

SOURCE Smith & Wesson Holding Corporation

Web Site: http://www.smith-wesson.com

http://www.tcarms.com

Gun owners fret Obama White House

Voting bloc has ‘deep-seated’ concerns

Jennifer Harper
Thursday, October 30, 2008

The nation’s gun owners have the presidential election in their sights.

Some are up at arms about the prospect of future gun legislation should Democratic presidential nominee Sen. Barack Obama win the White House. Others are beefing up their personal arsenals, skittish that firearms could become scarce or too expensive in the near future.

“If the economy is down, and gun sales are up, it shows you just how deep-seated the concern is out there about the situation,” said Richard Pearson, executive director of the Illinois State Rifle Association.

“Most gun owners at least until recently have been misled by Senator Obama. Though he claims to be an advocate for the Second Amendment, his voting record in the Illinois Senate says otherwise. He voted for a bill that would ban nearly every hunting rifle, shotgun and target rifle owned by Illinois citizens,” Mr. Pearson continued.

“His campaign has done a good job burying his take on firearms,” he added.

Hal Goldstein, owner of the Armory gun shop in Annapolis, said, “People should be scared.”

“Sales are definitely up,” he said. “I’ve got people with Obama stickers on their cars coming in to buy. We’re looking at possible a super- Democratic majority [in Congress], and a president who’s going to do what’s best for the collective. I don’t want to sound paranoid, but the prices could go way out of sight.”

Mr. Obama’s campaign Web site cites “the great conservation legacy” of American hunters, including Theodore Roosevelt.

“Barack Obama believes the Second Amendment creates an individual right, and he respects the constitutional rights of Americans to bear arms. He will protect the rights of hunters and other law-abiding Americans to purchase, own, transport and use guns,” the site states.

Not all gun owners are leery of Mr. Obama. He has the endorsement of the American Hunters and Shooters Association (AHSA), a Maryland-based group that describes itself as mainstream hunters without “a radical agenda.”

Mr. Pearson, however, buys none of it.

“This is all just a propaganda mill. And the American Hunters and Shooters Association is a leftist, elitist group.” he said. “They’re a front for the Brady Campaign [to Prevent] Gun Violence.” The Brady Campaign also has endorsed Sen. Obama’s candidacy.

AHSA President Ray Schoenke said his group is “not a front for anybody.”

“The issue that Senator Obama – or Senator [John] McCain, for that matter – is going to take America’s guns away has been hyped up,” Mr. Schoenke said. “If people are looking for an excuse not to vote for Senator Obama, then it shouldn’t be on the gun issue.

“If people are nervous, they need to remember the Supreme Court decision this summer, which says the government cannot confiscate or ban guns,” he said.

Mr. Obama has not made any points with the National Shooting Sports Foundation (NSSF), a Connecticut-based nonprofit group of 4,000 gun makers, retailers, sportsmen and publishers.

The NSSF claims that on Sept. 27, the Obama campaign “unlawfully obtained and made unauthorized use of a proprietary media list” belonging to the group and has since sent a cease-and-desist letter to campaign officials.

Meanwhile, the National Rifle Association (NRA) has launched get-out-the vote drives, including lawn signs that read “I’m a ‘bitter’ gun owner and I vote.”

“We’re arming gun owners, who are a very loyal voting bloc, with the facts. And it’s a fact that gun control has become a political liability. Senator Obama is spending millions trying to camouflage his take on the issue,” said NRA spokesman Chris Cox.

Ruger to Report Third Quarter 2008 Results Today

Did He or Didn’t He?

This report is from the Shooting Wire:

Did He or Didn’t He?

Internet chat rooms and discussion boards are boiling over after a report by Ken Dilanian of USA Today said Dan Cooper, “chief executive of Cooper Arms, a small Montana company that makes hunting rifles” was a supporter and donor to- the Obama for President campaign. According to the USA Today story, Cooper donated $3,300 to Senator Obama’s current campaign and had donated to his 2004 Senate campaign after he was “dazzled by Obama’s speech at that year’s Democratic National Convention.” As you can imagine, this hasn’t gone down well with gun owners.

But is the report true? This statement posted on the Cooper Firearms website would seem to indicate otherwise:

“Regarding the USA Today Article. Cooper Firearms of Montana, Inc. did not contribute and does not support in any fashion the campaign of Senator Obama. Nine months ago Dan Cooper (personally) made an online donation to the campaign in an effort to help defeat Hillary Clinton and in protest of American plant closures and the shipping of jobs overseas. Three months ago he made yet another donation to the McCain campaign and the RNC totaling over twice that given to Obama campaign. There is no doubt that the article in USA Today has caused a considerable response. To this end we are encouraged and stand with our fellow NRA members and supporters of the Second Amendment and against those who oppose it.”

The end of this story is far from written, but were Cooper’s actions were not inaccurately reported in order to fit inside the “More executives sold on Obama” headline, Mr. Cooper is only beginning to feel the ire of already angry gun owners. When your name is on the sign, there is precious little discrimination between your personal actions and those of your company. We’ll keep you posted.

LaCrosse Footwear Announces Fourth Quarter Dividend

Traveling On Election Day?

NSSF is reminding all sportsmen and sportswomen who will be out of town in hunting camps, duck blinds or traveling on business on Nov. 4 to cast timely absentee ballots in accordance with their state’s laws. Learn more at NSSF.org/VoterEd.

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