Bill Wexler's Dog Pound Message Board

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Non-Tech : Bill Wexler's Dog Pound

REFR 1.847

-1.2%

Nov 14 9:30 AM EST

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To: Bill Wexler who wrote (5224)	12/3/1999 3:03:00 PM
From: BelowTheCrowd	Read Replies (1) of 10293

Bill, I know. Seems that the idea of an overall money management strategy is unfathomable to those folks. I've stated my own overall strategy here before, but basically: * No more than 5% of my portfolio will be invested in any large-cap stock. If the position grows than 10%, I will "trim down" judiciously in order to keep it under 10%. * For small caps and other speculative stocks (which at the moment still includes most internuts, despite their "large cap" valuations), I exercise the same kind of strategy, but the numbers are 2% and 4%. * These rules apply whether long or short. * New rule: The "small cap and speculative" category should not be more than 30% of the total. * The final arbiter as to categorizations is me. I used to put AOL in the second category. Over the past year I've moved it into the first. So, even if I had shorted my max (2%) of VLNC at 6 and watched it double, I would have lost at most 2% of my total portfolio value before I started trimming back. Big deal, my AOL position has made significantly more than that in the past month... These guys don't seem to get the fact that I consider some losses to be a normal cost of doing business. I was wrong (as you were, and as many of the marketing folks I know were) about CPU. Other picks that same year left me very successful. mg

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