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Pastimes : Clown-Free Zone... sorry, no clowns allowed

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To: benwood who wrote (123468)	9/18/2001 10:49:55 PM
From: yard_man	Read Replies (1) of 436258

I didn't strongly urge my Dad until Dec '99. I told him that I had lost money on puts bought here and there (did have a few weiners, but lost most) but that I thought now is the time to sell. The latest increase was pure air. I bought near term puts on 3 stocks: INTC, MSFT and LU. INTC and MSFT expired worthless -- LU was a 14-bagger as it collapsed. Since then it's been a weekly ritual. "what do you think about the market. You know, my mutual funds are down x%. Do you think I should sell?" "sell. They aren't coming back. I'll tell you when I start to lose serious money being short -- just sell. I'll give you some boring options that don't lose you money." "well ... maybe you're right. Maybe I should just sell." To be fair -- he did move a lot out of stocks, but still has some in there, too. But he sure as heck had to kick against the goads at Fidelity -- you'd think he was kicking them in the go*ads, the way they complained when he moved the funds that he did. <ng>

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