bed-and-breakfast deal

bed-and-breakfast deal
/ˌbed ən 'brekfəst ˌdi:l/ noun
formerly, an arrangement where shares were sold one day and bought back the following day, in order to establish a profit or loss for tax declaration
(NOTE: Doing such deals was called ‘bed-and-breakfasting’.)
COMMENT: This is no longer possible, since a period of thirty days has to elapse between the sale and repurchase of the same shares to allow a new price to be established.

Dictionary of banking and finance. 2015.

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