Eric Bolling
Eric Bolling
Eric Bolling is a co-host of FOX Business Happy Hour and the host of the 3 p.m. hour of FOXNews.com’s Strategy Room Web show.
Bolling joined the FOX Business Network (FBN) as a contributor in March 2008.
He has recently served as an independent trader based out of the New York Mercantile Exchange (NYMEX), the world’s largest trading center for energy. He specialized in trading a variety of commodities such as crude oil, gold and agricultural commodities. He served on the NYMEX’s Board of Directors for five years, and subsequently acted as a strategic advisor there.
Bolling actively trades equities, options and derivatives and is a member of the Intercontinental Exchange (ICE), the NYMEX and the Commodities Exchange of New York.
Prior to this, Bolling served as a CNBC contributor for two years, where he spent a year and a half as a panelist on Fast Money. He also was the recipient of the Maybach Man of the Year award at the Trader Monthly Awards in January 2007.
Bolling also spent time as a professional baseball player for the Pittsburgh Pirates.
A graduate of Rollins College in Winter Park, Florida, Bolling was awarded a fellowship to Duke University’s School of Public Policy.
Eric's on Twitter. Follow him here: http://twitter.com/ericbolling
FOX Translator
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Cost basis is the cost at which you entered a position or purchased an asset. It is the total price you paid for, say, your house, a stock, mutual fund, etc...--and by total we mean including all commissions, accrued interests and other expenses. Cost basis is used to determine tax liabilities.
For example, if you bought 100 shares of IBM at $111.45, and IBM is now worth $120 a share, the current value of the position is $12,000, but the cost basis is $11,145.
Do the math and you'll see this would give you a profit of $855, so, Uncle Sam's piece would be based on that.
