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Politics : Ask Michael Burke

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To: Knighty Tin who wrote (68903)	10/10/1999 2:16:00 PM
From: Terry Maloney	Read Replies (1) of 132070

Michael, thank you for your reply on how you swing for the fences with puts. Your reply to Greg -- "I add realized profits and losses to the 90/10 immediately to determine the current levels" has me a bit confused with respect to your earlier statement that you use 10% option premiums per year ... Does this mean that you limit yourself to 10% of your start-of-year portfolio if things go against you, but allow yourself 10% of your current portfolio value if they are going your way? As for your being up 'only' 22% this year ... well, so far. I have a feeling that the market is about to come around to Fred Hickey's point of view. <g>

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