I saw this link on another forum: http://money.cnn.com/video/pf/2013/...ber-gallery.cnnmoney/index.html?iid=G_Taboola Very surprising that Mr. Faber intimated that some clients might be using their collections to hide assets from a spouse or the estate tax authorities. You can bet that IRS will be all over his business quite soon. There is a saying in my office..."You don't poke the bear when he's hibernating." No way I'd handle that exam. Life's too short. gatorcpa
Ed's a great guy and what he says is true, but I doubt it's that widespread of a problem. Every time the NYC gang meets we go visit Faber's Gallery. The last watches I got from Ed were my black dialed LeCoultre Powermatic and black dialed UG Polerouter.
Nah, what's very cool is Ed indulging us. He let me try on a few über-cool perpetual calendars including a Patek and an awesome Breguet even though he knew I wasn't buying those particular watches.
You bet. But only if the estate is over $5 million after bequests to your spouse. I'm sure the people Ed's referring to are in that club, or are possibly trying to stay out of it. Oh, I think everyone knows it's true. And everyone knows that hazing happens in every NFL locker room. But it's just not a good idea to say so on a national television program. The wrong people get the wrong (or maybe the right) idea and you've got tsuris. gatorcpa http://www.merriam-webster.com/dictionary/tsuris
Don't agree with the position of Rolex though. Perhaps in the position of non-wis public or sales but not in recognized standing.