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Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED
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To: im a survivor who wrote (21319)12/1/2000 11:36:02 AM
From: Sully-  Read Replies (4) of 65232
 
Hi Keith,

I don't discuss my portfolio or investment style much lately, so I can understand you may have thought I was kidding. I wasn't. I am in a margin call situation. I have until 12/5 to cover. I have a plan & I'm working it as best I can.

One reason I don't discuss my portfolio or investing style much is that I firmly believe that using margin is extremely risky & I don't want anyone else to get the idea that I condone it's use. I don't. It is very risky! I have made two fortunes in recent years with margin playing a role. I have lost two fortunes in recent years with margin playing a role. Pretty hard to discuss the merits an investment style that swings from one extreme to another, ya know?

The perplexing thing is that after making the second fortune, I thought I made the wisest & historically best decision going forward. That was to have most of my portfolio be LTB&H with CC writing & some short term trading to supplement income.

Well DUH! I made that fateful decision at one of the worst times..... near a market top. My personal convictions about LTB&H & my stock selections caused me to stubbornly stick to my plan..... DUH!

All in all, the margin call is manageable, albeit quite undesirable at/near a market bottom. Who wants to be forced to sell here?

Just another lesson learned as I attempt fortune #3.

Thanks for your concern Keith. Hope we do get a rally & a sustained uptrend with growth in the economy & a warm body in the white house.

Regards,

Ö¿Ö Tim
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