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Pastimes : The Justa & Lars Honors Bob Brinker Investment Club

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To: MrGreenJeans who wrote (6845)7/17/1999 11:52:00 PM
From: Gary D   of 15132
 
MGJ: "Why is Bob playing for the last dime when a miscalculation may cream us all?"

Bob's visibility must be such that he feels the probability of a miscalculation you refer to is acceptably low. Several weeks ago, Bob stopped saying that there was little visibility in the market. And last weekend Bob made a statement similar to 'there is no chance of a bear market at this time'. Even though the market is priced to total perfection, if visibility is such that any possibility of a panic is at least several weeks away, then an invested position can be justified. And if the market top is not followed immediately by a panic, then the time window for a good sell signal may be fairly broad. JMO.
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