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Politics : Ask Michael Burke

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To: Mary Cluney who wrote (48025)	2/20/1999 8:19:00 AM
From: Tommaso	Read Replies (2) of 132070

Pooh Mary! I am one of those people you describe, and in 1982 I was margined to the hilt and living on credit and as long as I could get on discounted closed-end mutual funds. Alhtough I have never made a very high salary I am now totally debt-free, with an unmortgaged house worth four times what I paid for it, and I am not about to risk my family's security by piling into an historic mania. There's a time to sow and a time to reap, and a time to go long and a time to go short. This is a time for extreme caution, when nearly everyone else is enthusiastic, even people who imagine that they are "cautiously" putting most of their retirement contributions into mutual funds. The time to be cheerful and upbeat is when everyone else is beat down, and that's not now.

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