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Gold/Mining/Energy : Nabors Industries(NBR)

NBR 51.73

-3.9%

Nov 4 3:59 PM EST

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To: John Patterson who wrote (101)	8/11/1998 6:32:00 PM
From: TheSlowLane	Read Replies (1) of 174

John - At least with a cost basis of 8.5 you're still well in the black. Things to be thankful for! My biggest regret is that I could have gotten almost twice the number of shares for the same money, just by waiting 3 months. Who knew? I talked to my investment manager today about the option of averaging down. While it is tempting, not knowing exactly where the bottom will be is making her a little hesitant to pull the trigger just yet. The whole oil services sector has been taking quite the thrashing lately (I also own Enron Oil & Gas, Dresser and Lyondell) and I think you're right, there are some excellent values out there now. As far as your philosophy goes - I hear you. I am stunned to hear how many (new, mostly) investors are now expecting 30-35% returns annually from their mutual funds. Better to have more realistic expecations and save yourself from some disappointment (or worse, a lot of people are spending/borrowing at a rate that has those highly optimistic expectations built-in). Cheers...

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