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Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: James Clarke who wrote (9202)	12/9/1999 1:39:00 AM
From: Michael Burry	Read Replies (2) \| Respond to of 78603

Jim, I overheard two conversations today. Both were about investing - one involved the med center librarian, the other a janitor. Moreover, the friend I describe with the half-mill is not the first overnight success story. As I might've mentioned before, my two best friends and my younger brother's two best friends all became multimillionaires this year. But you know, even though I'm here in Silly Valley, I'm on the fringe - that same guy who made half a mill went on a date with an HP IS employee who said it'd take 2 mill to buy her house. When informed of his goal of 3-5 million in a few years, she scoffed and said "That should last 2-3 years." Then she asked what doctors are making in the Valley. He said "$100 to $120k." She actually sniffed. Jim, I'm reversing my position on your QQQ short, although I'm not yet doing it myself. Never, ever have I heard stock discussion permeate the medical center like this. This is new to me in the last few weeks. Mike

To: James Clarke who wrote (9202)	12/9/1999 8:42:00 AM
From: jeffbas	Read Replies (3) \| Respond to of 78603

James, is QQQ something you can actually short like the American Exchange Spiders, or do you have to play it with options? The wasting time value would not appeal to me, but if there is a vehicle (symbol please) that you can hang on to indefinitely I would be interested in hearing about it. The real problem is that shorting QQQ won't do anything to protect situations like Mike's friend with one stock up 5 times. However, it would be useful in hedging a diversified NASDAQ portfolio.