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Technology Stocks : Qualcomm Incorporated (QCOM)
QCOM 169.45-2.2%12:23 PM EST

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To: Wyätt Gwyön who wrote (118762)5/14/2002 12:42:34 PM
From: Jeff Vayda  Read Replies (1) of 152472
 
MM: re so Taleb must steel himself to lose money almost daily as his out of the money calls and puts expire worthless. the only way he can survive this "death by a thousand cuts" is to preserve enough liquidity so that, eventually, he will still be in the market on the day when another five-sigma event occurs (in a particular stock or the market as a whole).

Wow, that is one tough road to travel. To be in the market to lose money most days and only profit by a couple big days. Quite the contrairian view.

I think my make up is better suited to the long term view of profiting a little everyday to be able to withstand the occasion 'big downer'. (of course sometimes the 'big downer' starts getting measured in years! I'm ready for the profiting a little every day!)

Jeff Vayda
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