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Pastimes : All Clowns Must Be Destroyed
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To: pater tenebrarum who wrote (5003)1/29/2000 10:46:00 AM
From: Oblomov  Read Replies (1) of 42523
 
Update on my clown friend: Before the AOL/TWX merger, he did in fact use margin to buy more AOL. Once the merger was announced, I could not convince him that AOL would be dead money for a while, and that he should sell. Neither could I convince him to sell some of his AOL and buy TWX with the proceeds. He would have none of this and told me that he was sticking with AOL, no matter what.

him: "In fact, stocks are looking cheap now,"
me: "So are you buying anything here?"
him: "I might buy more AOL"
me: "I thought you were using margin as it is - what money do you have left?"
him: "I have some margin still available...."

And so it goes. This conversation was quite enlightening for me. His displays of bullish exuberance have been excellent contrary indicators in the past.

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