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To: Bernie Goldberg who wrote (13869)	12/8/2000 4:07:09 PM
From: OldAIMGuy	Read Replies (1) of 18928

Hi Bernie, PP 178. "The fact that I invented AIM did not and does not mean that my opinion is the last word." R. Lichello ----------------------------------- A lot depends upon whether one is running their portfolio as a bunch of separate AIM accounts, a mini mutual fund (basket) or some variation. Selling out of one stock or fund and using the proceeds to buy another is simple and straight forward if one is running separate AIM accounts. It gets a bit muddier when there's co-mingled cash reserves or a basket of equities and cash. The Q&A sections in Mr. Lichello's book are very good and cover a lot of ground. Add to that the Q&A we have here on SI and at my web site and there's a lot of information and experience represented. I spend a lot of my daily time answering questions of people who are just getting started with AIM. Many have read the book and the web site. They're the easiest ones to help. Plenty haven't read either. They became intrigued with the AIM idea, try one of the great software products around, then try to modify AIM to be more like day trading and all this is done without the proper AIM indoctrination. The book is a must as are the Q&A sections. However, one must realize that the Q&A sections were written in 1980 and 1985. A Discount Broker in 1985 was still a flesh and blood person that answered a phone and took an order for a 100 shares and charged you $55 for the trade. On an inflation adjusted basis, on-line brokerages are really cheap by comparison. In 1980, Mr. Lichello had less experience with AIM than you currently do - the book was just three years old. As much as some things have changed, there's many that haven't. Making a fat LIFO gain on inventory is a Good Idea and makes Good Business Sense. This hasn't changed. AIM is designed to do just exactly that. The stocks and funds that are right for one person may not be right for another even if they are both using AIM. We each have to analyze were we are in our lives first. Certainly a 30 year old with a six figure income and no kids doesn't have the same risk profile as a 50+ year old with kids in college or a 70 year old retiree. One size doesn't always fit all. We're all running separate warehouses, and all are franchisee's of AIM, but we serve different markets. We have to be careful to make sure we understand the other person's market before we can give adequate advice. However, the advice of getting Mr. L's book read and understood will go a long way towards making the business run smoothly. My next best suggestion to someone who is using AIM is not to tinker with it until they've been through at least one complete market cycle. By then they'll know how well it works all by itself. Best regards, Tom

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