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

To: MulhollandDrive who wrote (65700)	8/3/1999 11:31:00 AM
From: Rambi	Read Replies (1) \| Respond to of 132070

I agree with you completely, Betty. That was my point--- the guy was a walking disaster; had he been a bankteller, he probably would have been trying to fix the books, or a lawyer, he would have been ripping off little old ladies' estates, a postal worker, opening Easter cards and taking the 5.00 grandma was sending to her grandchildren. Day trading was merely the vehicle he choose to use. WHat I objected to was this columnist making it sound as if the daytrading was what caused him to kill-- rather than his own unbalanced personality, and that daytrading is inherently evil, causing overweening egos followed by disaster. (Couldn't he have a margin call on a long term hold investment?) I think the columnist took a dramatic incident and inaccurately applied it to try to make his own point. I think we said the same thing! Want to borrow my Uzi?

To: MulhollandDrive who wrote (65700)	8/3/1999 11:34:00 AM
From: Mama Bear	Read Replies (2) \| Respond to of 132070

bp, I believe Alltech promotes irresponsible trading. Daytrading can look as you have represented it, but Alltech and other daytrading shops help promote that perception. They need traders who churn their accounts, and have to fill the chairs with the inevitable attrition of those who are unprepared for significant losses. Some of us actually do use trading discipline, don't overtrade, rarely use margin (which Alltech supplies at 3:1), and will sit on our hands if we don't have the odds in our favor. It's obvious that Mr. Barton was mentally unstable, but that doesn't mean that Alltech doesn't bear some responsibility for what happened. Barb

To: MulhollandDrive who wrote (65700)	8/5/1999 12:45:00 PM
From: Les H	Read Replies (1) \| Respond to of 132070

Day Trader Lost $ 450,000, Tapped into 2 Childrens' Trusts accessatlanta.com

To: MulhollandDrive who wrote (65700)	8/5/1999 2:10:00 PM
From: PaperChase	Read Replies (3) \| Respond to of 132070

>>. So you've got a guy with little in real assets, trying to get rich quick on borrowed money.<< Who says you've got to repay borrowed money? If one can't pay then one goes to bankruptcy. That's called lender risk and that is why, for example, credit card companies charge 15% above treasuries. The deranged daytrader should have been trading MU and none of this bad stuff would have happened. Sometmes daytraders need to trade nice conservative stocks like MU every now and then.