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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Mike McFarland who wrote (65654)	8/2/1999 8:09:00 AM
From: gnuman	Read Replies (1) \| Respond to of 132070

FASB and Options cbs.marketwatch.com

To: Mike McFarland who wrote (65654)	8/2/1999 10:24:00 AM
From: Knighty Tin	Read Replies (3) \| Respond to of 132070

Mike, With small cap biotechs, I tend to stick with them as long as the fundamentals don't change. But, in general, cutting losses viciously on stocks at some pre-arranged price (in your head and not on your broker's books) makes all the sense in the world. Stock picking is only part of the game and the least important part. Money management is more important and we can't let the losers drag us down. We have to live to fight another day sometimes. That is the reason behind the 90/10 in the options portfolio. I have not been vicious in my cutting of losses the last couple of years because I only have 10% of my total portfolio long. But when I am at larger %ages, I subscribe to the idea of culling losers without emotion, though I do cry uncontrollably at times. <g>