Bill Wexler's Dog Pound Message Board

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Non-Tech : Bill Wexler's Dog Pound

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3:02 PM EST

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To: golden_tee who wrote (7932)	4/12/2001 12:33:46 AM
From: Mark Marcellus	of 10293

Other than one very small position, I'm not short anything. I am sitting on a pile of cash, and have been for some time, looking hard for something worth investing in and finding very little. BTW, the market is NOT the economy. For a few very short periods of our history, it has seemed that way though. A study of the aftermath of those periods is not encouraging. In that sense, your fears of calamity if we keep going down have some basis. I would only point out that chasing speculative stocks in the face of this possibility is probably not the wisest course of action. You are in danger of becoming like the wild eyed gambler at 4 AM who had a great run at the craps table, but stayed too long. By then the table has turned against him, and he is in danger of losing everything. Instead of salvaging what he has left and leaving, he presses his bets, all the while blaming his misfortunes on the guy with the big pile of chips who's betting the "Don't Pass" line. If a bear market scares you this much, you shouldn't be in the market at all.

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