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Non-Tech : RAINFOREST CAFE
RAIN 2.400-0.3%2:02 PM EST
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To: jimleon who wrote (271)7/29/1996 4:50:00 AM
From: Dennis Vail   of 4704
 
Jim,I think you get a little carried away dissing chartists.The fact of the matter is that most portfolio managers underperform the S&P and that lately the dart-throwers have been beating the top fund-managers at the WSJ contest with regularity.The top mutual funds of one decade generally sink to the bottom half the next.Charting like fundamental analysis or monitoring short positions is a tool.Its how you use it that counts.If you're sucessful and you don't chose to use it, that's fine.But I'm sure that there are a lot of very successful traders that incorporate charting and fundamental analysis.Of course if you do 6000 trades,even if you somehow come out ahead anything the brokerage house doesn't get Uncle Sam will.And short-term traders seem to me to be giving away the historical 10% gain the market has tracked.Bears are actually trading with the 10% against them which means they're giving up 20% to bulls.Hard to make a living like that unless you know something nobody else does.I like having the 10% edge but as you know it only works effectively for buy and hold.And it's the best argument for buy and hold trading.I think just about everybody(including us chart users) on this thread are buy and hold traders grounded in the fundamentals according to St. Peter L..

You've got me interested in PZZA.Is there a Papa John's in Chicago yet?I haven't heard of any.But I'd like to field research one of their places.

I'll get you an exact short position this week.

Dennis
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