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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Bill Cotter who wrote (73103)	1/9/2000 12:16:00 PM
From: Knighty Tin	Respond to of 132070

Bill, Believe it or not, the put options themselves do not take a lot of my time. Researching the stocks takes a lot, but most of my time is spent managing my maximum income partnership. That is a very high turnover, hands on, labor intense portfolio. Once I decide on a put stock, I tend to swing for the fences, so I rarely even look at the premiums until the stock has had a solid move. I am a full time investor and other than the maximum income partnership and some "have gun, won't travel" <g> research I do for investment mgt. cos. and hedge funds, I have pretty much been investing for my own account since leaving the mutual fund portfolio management business in 1988. I think most option buyers spend too much time watching premiums, and that is because they are going for the small profit and have too much money on the line. Using my 90/10 technique and the homerun strategy (I usually don't sell until I have a quadruple, though there are many exceptions, especially around expiration day. I also rarely cut losses.), it simply isn't necessary. I believe in risking little to make a lot. Yes, I lose more often than I win (except in 1996), but when I win, I win much more than I lose when I lose. Good Luck, MB