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Politics : Ask Michael Burke

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To: Mark Adams who wrote (88714)	1/22/2001 6:16:48 PM
From: Knighty Tin	Read Replies (2) of 132070

Mark, Note that selling puts is one of the most dangerous trades in the world while buying the same base amount of long stock is considered average risk. <g> I used to get this all the time in the funds I managed. Buying a stock or a bond and selling a call against it was "conservative." Selling a put and holding cash to buy the stock or bond if it was put to me was "wildly speculative." When I used to mention that they were exactly the same position, risk wise, I had directors calling the mental health authorities to pick me up. <VBG>

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