Roger's 1997 Short Picks Message Board

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Strategies & Market Trends : Roger's 1997 Short Picks

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To: Pancho Villa who wrote (7754)	12/3/1997 5:24:00 PM
From: CalculatedRisk	Read Replies (3) of 9285

Pancho, RE: Options. I agree. The best advice on options I ever received was: NEVER PLAY OPTIONS! (There is a reason people say "play" options and "invest" in stocks) If I had followed this advice over the years, I would be further ahead. Options are dangerous for two reasons: First, there is the time risk. IMO, eliminating (or minimizing) timing is one of the keys to successful investing. Second, is the gambling syndrome. There is a tendency to play options, just to get some action going. Very dangerous! Earlier, I suggested a "synthetic short" position using options IF AND ONLY IF there are no shares available to short (like AMZN). I have used this strategy once - successfully - but it was only acceptable because the Company was a screaming short AND there were no shares available. May I take my own advice, Regards, Bill

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