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To: straight life who wrote (14523)	1/7/2000 11:01:00 PM
From: chaz	Respond to of 54805

I just ran the numbers. If I had not sold my margined account when I did, and I was a bit slow (by ~10%) doing so, and held instead, my net position would be roughly 60% of what it is now. I bought back in at the open this morning, with orders entered late last night. At this moment I am not margined, but if I see, or feel, that this is a real recovery, I'll use margin to profit from it.

To: straight life who wrote (14523)	1/8/2000 12:05:00 AM
From: Mike Buckley	Read Replies (1) \| Respond to of 54805

striaght life, Any businessman or woman needs access to capital, and borrowing capital is central to business activity. Why is my business any different? The difference is that as the CEO of my privately held business, I'm an active investor. I'm totally in control of the assets I invest in. As the CEO of your business, you are a passive investor. You aren't in control of the assets you invest in. As for your reference to your cash being your inventory, inventory is ideally bought at one price and sold to a customer at a higher price. That's not what you're doing with your cash. That's why your capital is not inventory. -Mike Buckley

To: straight life who wrote (14523)	1/8/2000 7:40:00 AM
From: Jill	Respond to of 54805

StraightLife, the business comparison means that you have an incredibly erratic customer base. Sometimes they're all clamoring for your business and other times they all walk away. You never know whether to store a lot of inventory or a little. Sometimes you luck out, you ordered a small amount and everybody wants it so you charge huge prices. Other times you are stuck with crates of bananas that went bad, and you have to sell them all at a loss just to make your rent. I use margin very rarely but I do understand those who like it...however they should always leave a substantial cushion for weeks like this past one, or they'll get caught selling stocks at the low to cover margin debt. Whereas if they kept some cash on the side, and left ample room in their margin capacity, they could instead pick up bargains and take advantage of the opportunity.