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Strategies & Market Trends : Anthony @ Equity Investigations, Dear Anthony,
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To: Anthony@Pacific who wrote (1)7/26/1999 2:18:00 AM
From: Puck  Read Replies (1) of 122087
 
Dear Anthony,

I've been investing my and my family's money for the last ten years, more or less, since I graduated from college. To date, my investing perspective has been essentially that of a long term investor. During the last couple years, the size of my portfolio has swollen from the strength of the bull market and the outstanding performance of many of my long positions, and I am coming to the realization that I can and should begin to leverage my asset base by engaging in more speculative activities to a limited extent for both pleasure and diversification, buying and selling on margin to begin with and then eventually options trading.

Now that I have set my brokerage accounts up for margin trading, I still find myself thinking with the mentality of a "long" when considering how I might margin myself. Having owned more than a hundred companies over the past decade focused in half a dozen various industry groups and having looked at many times that amount in a serious way, I think that I ought to be able to identify losers as a natural extension of the skills I have honed in identifying winners. However true this may be intellectually, I'm finding it unexpectedly difficult to change gears psychologically. I'd be interested to know what your first short sale was like, if you were willing to share your memories, in the hopes I might learn from your experience and would welcome any other SI members willing to share their reminiscences as well. And anyone, please feel free to offer whatever advice you might be will to bestow upon me as I try to grow as an investor.

I've been following the discussion on this thread since early in the year and am impressed by the very high success rate your short sales have had. You perform a great service as a watchdog of the public interest.

Sincerely,
Puck
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