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Non-Tech : CABOT Sinkhole (PRST, ZOLT, IOMG...) How deep?
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To: Scott Maxwell who wrote ()6/22/1996 1:26:00 PM
From: Frank Bunn   of 90
 
Re: Cabot

The audacity of the Cabot Market letter defies the best of judgement.
Today they still advertise in the IBD and tout the phenomenal gains of
PRST. What are they thinking? They claim to hold the original position
with a 1,246% profit. Read the fine print and you will discover 'as of
05/28/96. One month ago! This guy wants to sell his newsletter. You can rest assured that
he took profits long before PRST swooned 60+%.

These stocks made incredible gains. But there is a time to take profits,
To lose more than 8% on any stock in this market it a ridiculous notion. Your
capital is what keeps you in the race. I think it is shame to employ hype and distant projected speculation to run
a price up, but that is the game. Ever hear of the greater fool theory?
There will always be one to purchase these issues at inexplicable prices.

To Mr. Mack, we all understand the devastation of loss, not matter how large
or small. I do not think anyone is kicking this man when he is down.
When will PRST see 200 again? Who knows. And five figure margin calls are not
my bag.

What does one expect Cabot to tell you? That the stock took a bath and you
are a fool for riding the wave down 100 pts. No way. He must rationalize
the inevitable pain of exponential loss for the posterity of his business:
a stock newsletter.

With no disrespect,
Frank

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