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Strategies & Market Trends : The Thread Formerly Known as No Rest For The Wicked -- Ignore unavailable to you. Want to Upgrade?

To: Tim Luke who wrote (83711)	12/31/1999 10:08:00 AM
From: Ed K	Read Replies (1) \| Respond to of 90042

Tim: I had the pleasure once of attending a talk at Cal Tech with Warren Buffet. He said that the most common mistake people make is to sell their winners. He said that when you have to sell something, then SELL YOUR LOOSERS. For example, if everytime you sold, you sold one of your winners, then eventually all you would have in your account is LOOSERS. I've followed his advise and its worked out really well. The sultan of Omaha has spoken. Ed K

To: Tim Luke who wrote (83711)	12/31/1999 10:09:00 AM
From: roll_wave	Respond to of 90042

Tim: Where do you draw the line? Down 5%, 10%, or more in any position??? Or, is best money management to offset any gain with any loss - no matter how small the loss is? I guess I must fail to realize the tax consequences and there impact?