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 (5552)	12/18/1999 1:12:00 AM
From: Mike M	Read Replies (1) of 10293

Gain on my original NVLS position...roughly 300% (so far). Wasn't that clever.... freehomepages.com Bill, we sort of have to stick to what we "advertise" around here. Otherwise there might be the hint of "fraudulent or revisionist" reporting. We know where we stand on things we've announced (on the hook as it were). If you really bought NVLS at 20, then bully for you. But that isn't any help to the guys in the pound who are hanging on your every word....hedged chunks of long position apparently now means 35%(of what remains a mystery-could be we mean 100% of the new position). Perhaps you did what you said you did but announcing after the fact is a little too convenient and hardly helps the "dogs". It also does little to demonstrate your investment resolve which I have noted is just about non existent. Having owned PFE for 30 years and GE nearly that long I have a bit of a different perspective than you do. I have only sold covered calls once many years ago. (I lost a long term position on WMT, paid a huge capital gain and resolved to never do that again-I don't even want to think what that cost me were I to have held on to that stock). I don't doubt that you are a savvy trader. But, an investor you are not. You may have even had some success in ferreting out weak businesses in the past. But I have observed nothing more than a gambler's mentality which waffles back and forth with every change in direction of the wind and offers no fundamental insight whatsoever. Hardly the stuff to inculcate confidence in the faithful.

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