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"On a fully costed basis no one makes money" in online grocery, says Andrew Gwynn of Exane, an investment company.
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That is because of new rules on what the Internal Revenue Service calls "cost basis reporting".
"They have the lowest cost basis of anyone currently.
The problem was the cost basis," he said.
The cost basis includes brokerage fees and charges, and the sales price is after such fees.
The cost basis is probably something just north of $24 and some barrels of tea.
"They are not quite as appealing on a cost basis as they were".
That could cut the tax liability because reinvested dividends become part of the cost basis.
Although I paid $116 a share, my cost basis will be much lower.
Such coverage, Mr. Mackoul said, should be on a "replacement cost" basis.
"Quite simply many of these schools have been built on a minimum cost basis".
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