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Non-Tech : Tulipomania Blowoff Contest: Why and When will it end?
YHOO 52.580.0%Jun 26 5:00 PM EST
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To: EL KABONG!!! who wrote (2808)4/17/2000 6:00:00 AM
From: Dale Baker  Read Replies (1) of 3543
 
There wasn't much discussion on the thread to jump into for a while.

You summed up my feelings here:"No, I think the real reason that I'm not worried is that I don't have a seller's mentality at the moment. The money that I currently have in equities is for the future, the distant future at that (perhaps 15 or 20 years out). So I don't see red ink on the charts as a paper loss. I see it as an opportunity."

I cushioned my losses with diversification and lots of shorts (discussed in more detail at tigerinvestor.com. Still gave up a big chunk of 2000 profits.

For now, I am glad to have a YTD profit and the chance to buy companies I like at very cheap prices. I moved into a lot of big cap communications stocks that I didn't think I would ever get to hold at a reasonable price. It may take six months but I expect a nice return from most of them.

I haven't felt a panic mood thanks to my hedges and the general sense of deja vu after October 1997 and July-October 1998. No reason to sell companies you like or keep anything you don't like in this climate.

Like my article says - any landing you walk away from ain't bad, compared to the alternatives.

Happy trading.
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