posted on November 9, 2000 09:20:21 AM new
<i>
"Mutual Fund Shareholders
As a result of this action, X.com will be discontinuing the mutual fund
business of X Finance on December 1, 2000. Please check your fund account
balance and redeem all your shares on or before December 1, 2000. All
remaining shareholders of the Funds on that date will have their shares
redeemed on the following business day (December 4, 2000) at the net asset
value determined on that date. A check for the proceeds will be mailed to
the most recent address that you have provided. For more information,
please see https://secure.finance.x.com/info_prospectus.asp."</i>
Guess what? Anyone who put their money into X.com's flash-in-the-pan mutual funds, rather than the many established and well-run mutual funds out there, will now be paying tax on their short-term gains (assuming there are any) in X.com's mutual funds!
