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To: Tom Trader who wrote (49)	4/20/2000 11:35:00 AM
From: Investor2	Read Replies (1) \| Respond to of 57

Re: "However, part of the rationale for doing this is that I believe that we will head down again over the next month -- probably starting next week -- and I will be in a position to acquire stocks at a lower price." If you believe that, then why be 90% invested in equities in your retirement account? Best wishes, I2

To: Tom Trader who wrote (49)	4/20/2000 5:36:00 PM
From: BDR	Read Replies (1) \| Respond to of 57

<<I used the rally of the the last two days to liquidate a portion -about 30%- of my taxable portfolio.>> I sold some things last Thursday morning and again earlier this week. I am now between 15 and 25% cash in the different accounts I have. I sold based on two sets of criteria. One was that a company had to be growing, profitable and have a degree of control over the markets in which it operates (GG'ing or a variant thereof). No profits, faltering growth, or little or no barrier to entry? Why keep holding when there are better companies out there? For the second criteria I asked myself if I could explain to someone else in a few sentences what it was that a company did and why someone should invest in it. If I found that I really didn't understand what the company did (and I don't mean an in depth understanding of the technology) or that my reason for buying seemed to be nothing more than because enough other people on the threads I read had been buying it, then out it went. I don't know if I have a better portfolio as a result of the exercise but I feel more comfortable with what I have.