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Politics : Ask Michael Burke

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To: Zeev Hed who wrote (79666)	4/15/2000 8:53:00 PM
From: Skeeter Bug	Read Replies (1) of 132070

zeev, i stole ignorati from mike b. it is quite obvious to me that rmbs doesn't make more than a financial whimper. i said the same thing about amzn in 1997. seems you don't really bet on businesses, rather you us tech analysis to make your bets. a lot of bulls were wiped out in just one week after 5 years of mania. more bulls than bears, for sure. if this gets much nastier than the bulls will be the much worse off of the two. sure, i didn't make money off puts - nor did i lose any when mu ran to $140. however, i do have the vast majority of my money in cash (and it isn't down 35% w/ another 40% to go b4 we hit fair value!). i didn't use my savings to buy the naz at 4500 on margin as MANY bulls have done. i paid off my condo rental. not bad for a guy who bought some mu puts and missed out on this drop, huh? ;-) the key is flexibility and not to be greedy. i made a ton on gztr, lgndw and trps the last 4 months i owned them. i was flexible and locked in those gains (and left a lot on the table for a while!). now they are 50% of what i sold them for, but i want to buy them even cheaper. back to ignorati - i just think it takes a disease called "lack-a-sense" to believe that people will pay 4 or 5 tinmes more for something that offers only slight performance improvements. they'll pay something, but 4 or 5 times more ain't it. all the hype that myself and others on this thread tried to dispell has turned out to be unreal - just as we said it would be and the analysts - hypesters - were wrong. i don't see that changing. one should not feel bad if they have clarity of vision while the mania mongers run wild with excess cash. in the end, the foolish get torched and we saw a little of that last week. good luck.

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