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To: Road Walker who wrote (97947)	1/31/2000 11:15:00 PM
From: Mary Cluney	Read Replies (1) \| Respond to of 186894

John,<<<What ex. and strike did you buy?>>> I don't know where I read this, but 85% of options expire worthless. MB is one of those rare exceptions. He buys boatloads or slug full, as he puts it, of Puts (lots of Intels) in the greatest bull market in US stock market history and turn huge profits. There must be some method to these fortuitous investments. I only wish I could understand his methodology. It would be very instructive for me if he not only tells us that he has made tremendous profits on these investment but that he would also tell us ahead of time the expiration and strike of these investments. He has no trouble telling us that he has made huge profits - frequently telling us his percentage gains - but I can't understand why would he not tell us his ex. and strike? I suppose that if you can make these huge profits on Puts- you should also be able to make huge profits on Calls. Why would people who sell Puts and Calls favor one over the other. Aren't they pretty much like book makers for sporting events? They don't have to know much about the sporting event (or equity) - all they have to do is figure out how much money they want to make (the Vig?) and then find the point where half the people would go one way and the other half the other. The book maker and the people who sell the Puts and Calls seem almost always to make out. Even the Nobel Prize winning mathematicians at Long Term Capital Management could not do what MB and and those people on the Michael Burke Thread seem to do - consistently make money on options exotica - in the case of MB on buying out of the money puts in a bull market. I just can't do the math. Mary

To: Road Walker who wrote (97947)	2/1/2000 8:03:00 AM
From: GVTucker	Read Replies (1) \| Respond to of 186894

John, RE: Dell & CPQ say corporate demand is soft because of Y2K, but they both expect immediate recovery. Actually, Dell management stated that February also was not looking good. They were hoping that there might be a recovery after that, but can't provide any data to support this hope. The whole reason that Dell waited so long to warn (they warned 2 days before the quarter ended) was that they thought that in January there would be a sharp recovery form Y2K. Instead, there was no recovery at all, suggesting that the soft corporate demand might have other causes, not the least of which might be Win 2000.