Roger's 1998 Short Picks Message Board

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Strategies & Market Trends : Roger's 1998 Short Picks

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To: Tino who wrote (2355)	2/5/1998 6:49:00 PM
From: Roger A. Babb	Read Replies (1) of 18691

Tino, there is no free lunch and no riskless trades. Most floorless convertibles go down, but one of these days one will eat my lunch. I trade a very diversified portfolio and would never allow a single stock to be more than a few percent of the total. My trading portfolio is listed in the link at the top of this thread. I don't publish the contents of my long term portfolio, but suffice it to say that it is much larger and contains only long positions, bonds, and cash, and is traded very infrequently. Some of the trades I discuss on this thread are extremely risky, but are usually in the opposite direction of my major portfolio thus actually reducing my overall risk. But when I see news like the convertible announcement this morning, I knew that I could short some shares and be almost certain of clearing $1 per share before days end (which I did) thus the "free money" statement. I may have to wait months for it, but I will eventually profit from shorts like AOL too. Just takes patience and margin money.

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