NorthPoint Communications Holdings, Inc. (NPNT) Message Board

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Technology Stocks : NorthPoint Communications Holdings, Inc. (NPNT)

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To: OpusX who wrote (333)	11/19/1999 11:36:00 PM
From: ahhaha	Read Replies (1) of 786

There's a good one by a guy named Gary Anspach. He was a NYC broker. Must be retired by now. There's no reason in the world to be involved with options. You are in capital markets to make a superior return. It is very reliable in any market to do that as long as you hold growing companies. Options imply trading and trading is a loser, even in a market like this. These guys jumping around are shooting themselves in the foot. You have to hold during a general or specific translation. As soon as you get that option you are hostage to expiration and so you are locked into trading, into changing a position at an arbitrary time not necessarily of your choosing. Who wants that tyranny? Anspach will tell you very much the same. He will say, "Number one, never buy an option. Number two, never buy an option." Like me he was a stockbroker and he learned by observing the public over decades. I learned that way, and from the public standpoint, and from being an MM on the PSOE. Even Livermore gave up on options in the early '20s soon after he penned his book. It's a shell game.

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