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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: AllansAlias who wrote (22476)9/27/2000 11:42:03 PM
From: XBrit  Read Replies (2) of 436258
 
Yes I admit it, the dark side sometimes claims me even now.

I was 100% margined long on tech stocks up until April, and it worked very well for me. I was caught in the April crash, but I dumped all my margin early. The rest of my stuff recovered quickly because it was all semiconductor sector, so I came out pretty well.

But I dimly realized that something pivotal had occurred, and things might be different hereafter. In fact, I got to wondering whether the market wasn't getting a touch, um, gasp, fully-valued.

I bought Smithers' book "Valuing Wall Street" and Schiller's book "Irrational Exuberance", and another one called "Devil Take the Hindmost". I read all of them. Then I basically said "OH SHIT" (with a Bruce Willis kind of delivery), went to 100% cash immediately, and have been hanging out in the bear zone ever since.

Maybe we can send out parties to colonize Wall Street in a couple of decades, once the radiation levels die down <g>.
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