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Pastimes : The Naked Truth - Big Kahuna a Myth -- Ignore unavailable to you. Want to Upgrade?

To: pater tenebrarum who wrote (77106)	11/26/1999 11:57:00 AM
From: dclapp	Read Replies (1) \| Respond to of 86076

Heinz, This, of course, has nothing do to with anything...naturally... ...from the bio of Jesse Livermore, the legendary stock market trader of the early part of this century. Seems back around 1906, everybody was long the western railroad stocks -- given they were the backbone of the phenomenal development of that part of our nation at that time -- 'How could they go anywhere but up?' But one day in April Jesse started SELLING ALL HIS RAILROAD STOCK. And he kept doing it, day after day. Fellow speculators, all of whom had great respect for this man with the great track record, began questioning his judgment, asking him what were his reasons for such a contrarian play. Now here's the crux: his only answer was, paraphrased, "I don't really know -- I just have to do it." So how did this all play out? Did Jesse lose his shirt? What happened a few days later was: The Great San Francisco Earthquake that the buildings of that beautiful city -- AND the railroad stocks, which latter plummeted to the bottom of the earth. Jesse made another killing. Regards, doug