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Pastimes : Generation Xers--saving and investing strategy
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To: Mike McFarland who wrote (88)8/12/1998 2:58:00 PM
From: Billy Bob  Read Replies (1) of 100
 
I must say it is impressive to see someone who has done rather well with their portfolio ask questions. My Grandfather has always told me that the day you stop asking peoples opinions and think you know it all, will be the day you start to lose all of your money.

I am in the same boat as you. Two years ago I bought DELL and AOL in an account and just forgot about it (Not literally) and has been very good to me. Every time I wanted to sell I just bit my lip and waited. I took that money and invested in a hedge fund from Los Angeles. The manager speaks to more people than I do and seems to know what stocks are about to move. The fund also gets a great deal of IPO's that I cannot get. He got us in that Geocity that popped up 17 points at the open. This way I am diversified and get a monthly statement. Actually I only put $50,000 into the fund so it is not my total future. Hedge funds are also IRA compatible.

I work for an investment advisory firm and would make the following suggestions to you if you were my client. First, you have your IRA and personal stocks reversed. You should be aggressive personally and not in your IRA. The reason is if the stocks go down in your IRA, they just go down with no tax implications. If you lose money personally, you can use the loss for a tax advantage. I would stay conservative if you think the market will continue to decline in your 401K and IRA. Remember, a 12 - 14% gain in your IRA is like a 18% gain personally which nobody can do. You are still young and have plenty of time for these stocks to rebound. The most important thing to remember is that if stocks go down in your IRA, they just go down with no tax advantage.

I would recommend finding a hedge fund rather than a mutual fund or both. The reason is that mutual fund managers need to stay 90-95% in the market. Hedge fund managers can be all in cash if they want to stay on the sidelines for awhile. Next, mutual fund managers usually cannot be short stocks. Hedge fund managers can do both. If a fund manager thinks that oil prices will rise, he can short the airlines and go long oil service and oil companies. My mutual fund has been good to me but has slowed up. I prefer hedge funds because in a sideways market I can still make money. The hedge fund manager can also switch from a 70-30% bullish to 70-30 bearish in one day.

Good luck to you. If you have any questions just let me know. I also can give you a couple of hedge fund names if you would like.

P.S, what is the bio tech stock you are so bullish on. I would love to know.
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