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To: BGR who wrote (46624)	6/11/1999 4:57:00 PM
From: wlheatmoon	Read Replies (1) \| Respond to of 86076

here's another. To: gpowell (11014 ) From: ahhaha Friday, Jun 11 1999 1:17PM ET Reply # of 11050 Don't average down. Don't chase. Buy when it looks bad, not when it looks good. Buy when it's tough to do. Hold when it's hard to do. Sell when it's easy to hold. Use your own knowledge as an indicator of how wrong you are. All of these strategies take self control. No, it doesn't take self control to hold mindlessly. It is equally important to sell as it is to hold. What is the purpose of investment? Accumulating wealth to give to inheritors? People who hold indefinitely are fearful that they will lose something if they sell. This is another form of greed and it will kill you just as effectively as trading. I wonder how many who took the ride up to 198 in ATHM wish they had sold say, at 160? I picked up a lot of ridicule when the stock was between 130 and 140 for suggesting that it was going to drop 20 points. It didn't drop 20 points in 1 day, the players were too smart to jump and make that true. Instead the stock took 40 days to drop 50 points and so kept the BGRs in for a full ride whose completion is yet to be seen.