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Non-Tech : Bill Wexler's Dog Pound -- Ignore unavailable to you. Want to Upgrade?

To: BelowTheCrowd who wrote (5412)	12/9/1999 1:59:00 PM
From: Graeme Smith	Respond to of 10293

I normally wouldn't let any stock get to more than 5% of my port either. Unfortunately I was unable to follow the market at all from Monday until Wednesday, which was when I found VLNC had gotten ahead of me. I'm boxing half VLNC today. As far as Bill's comment about keeping shorts to a small percentage of the portfolio, I have found being 50% short to be an easy way of reducing portfolio without a great deal of risk. By spreading my risk among 30 or so shorts, one of them getting out of hand won't bring down the portfolio. I'm actually down 10% in two days (and 15% off my high) which is pretty shocking since in 3 years my portfolio has never dropped below 15% from its high, and never so quickly. It does mean I need to reassess my allocation since up until a month ago the volitility of my portfolio was below that of the major indexes, something I took pride in. Graeme