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To: Bill Harmond who wrote (100462)	4/13/2000 8:12:00 PM
From: Eric Wells	Read Replies (1) \| Respond to of 164684

The only time I will sell out a position is a trade for tax-loss purposes. William - if I have money in investment A, and I believe my money will earn a greater return in investment B, then I will move my money from A to B (by selling A and buying B) - provided that such a move is in line with the the long term objectives of diversification goals of my portfolio. Sometimes beach balls go under and they don't re-surface. If I don't think a sinking ball will resurface, I sell. I think a lot of investors have difficulty selling - I've known many an investor who has had so much hope tied up in an investment that the investment becomes emotional - it's hard for the investor to step back and evaluate the real prospects for return on the investment. Markets like the one we've had up until two weeks ago have distorted such analysis of return - because such markets introduce an environment where there is little logic and few rules upon which to base the value of an investment. -Eric