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To: X Y Zebra who wrote (36546)	10/15/2000 6:47:14 PM
From: Skeeter Bug	of 64865

>>More than being "wrong" in his/her stance (i.e. bull or bear), this example tells me that the person you are talking about has no "structured system" (even if it is voodoo).<< tazio, why have a structured risk reduction system when it cut into your returns for 2-3 years running? heck some clown that dumped their entire retirement and that mortgage refi money into amzn's ipo didn't diversify! of course, you are right. risk aversion is key. however, greed is VERY deceiving and VERY powerful. would my friend say he was greedy? absolutely not. heck, for 2 years + i told him once a month to be careful or disaster would strike. it was comical for 2+ years. until it wasn't funny anymore. i know another guy who mortgaged his house to buy qcom at $100 on the way up to $200. i hope he isn't still holding b/c that increased mortgage payment is a b* after losing the borrowed money. neither friend is poor nor would i say either is rich. both have to work (and at least one is a very hard worker!). i just hope he didn't dump too much in intel at $48. wrt your system, you are wise to take some off the table (and hopefully leaving it there!). i have done well the past several years b/c my system tells me to buy companies below fair market value and sell when they are above fair market value. man, i've still left a lot on the table! ;-) funny, though, that changes very quickly. i sold one company at $27 after seeing it languish at $3 not 12 months earlier. two weeks later it hit $50. what?!?!? not long after, it was $13. now it is about $30. next month? who knows, i don't. good luck.

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