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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: patricia c. reilly who wrote (87338)3/29/2001 2:56:40 AM
From: chic_hearne   of 436258
 
Your post should be mandatory reading for all the people like me who retired on their outrageous casino winnings in 1999, only to find themselves wandering the halls of SI last spring, little sack of tulip bulbs in hand, plaintively asking, "What are these things? Why did I buy them? Do I bake them? Plant them? What?"

Trish,

Thanks, I enjoy the compliment. I truly believe the best advice is to go 100% cash [and move that into cd's, tbills, etc]. And wait it out. By wait it out I literally mean years [most likely].

As my good friend Monty has been saying for at least 6 months:

"One of the most helpful things that anybody can learn is to give up trying to catch the last eighth-or the first. These two are the most expensive eighths in the world." - Jesse Livermore

The 1/8th is hypothetical of course, he really means trying to catch the top or bottom whether that be 5 or 50 percent.

chic
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