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Pastimes : The Naked Truth - Big Kahuna a Myth
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To: accountclosed who wrote (11982)11/30/1998 5:33:00 PM
From: Knighty Tin  Read Replies (1) of 86076
 
AR, I think we have to realize that there is a difference between analysis of a stock's worth and money management. Since we all have a limited store of funds, we have to make certaint that one bad decision does not put us out of the game. It is like playing red or black in roulette. If you have unlimited capital, you can double up forever and the wheel will eventually hit the one you are betting on. However, casinos set limits so that will not happen. Also, our own wealth sets limits. If you have $10,000, it doesn't matter that the red slot will eventually be hit by the ball bearing. What matters is that when you lose $10,000, you can't play any more.

So, my analysis of issues may say to buy or sell big time, but my money mgt. discipline tells me to invest enough so it counts if I am right, but not so much that I am sidelined if I am wrong.

MB
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