- Feb 20, 2010
- Reaction score
The point is, he's not just showing paper losses on his taxes because of depreciation, he's experiencing actual real world losses on the P&L. It may be slightly oddly worded, but that's clearly what's happening.The fact that the journalist claims “he has lost chunks of his fortune even before depreciation is figured in” tells me all I need to know about the journalist. Depreciation helps investors, you don’t lose chunks of your assets because of it. We have journalists who are writing about things they don’t understand, which was always going to be the case.
I'll also point out that all the, "is he rich or not stuff" has some merit, but there are also like 4 overt cases of tax evasion in the story.
Also, people should read this thread: