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Non-Tech : The Critical Investing Workshop -- Ignore unavailable to you. Want to Upgrade?

To: No Mo Mo who wrote (24495)	7/6/2000 11:51:17 AM
From: Jim Willie CB	Read Replies (2) \| Respond to of 35685

well Darin, here is more "schooling" I am a margin addict it is my non-drug addiction substitute I have avoided chemical drugs since rehab in 1987 my drugs of abuse were marijuana, alcohol, and barbiturates alcohol was always a minor player but non-drug substitutes are exctremely alluring often more powerful than the temptation of a naked woman sometimes they are a naked woman margin usage is my downfall I overuse it, despite advice from friends like Voltaire and personal friends back home I have repeatedly abused margin for years it brings about extreme ups & downs in my account I have several riches to rags stories in my past margin leads to purchasing too much stock relative to my account it leads to purchasing additional stock upon rises in my stocks so I dont ever sell when my stocks rise, instead buy more it leads to selling when my stocks drop, rather than buy the selling is usually forced, due to imminent or actual margin calls I have more margin calls in my history than trips to the supermarket margin: prescription for buying high and selling low I sold out my entire stock position this morning I am a perfect poster boy candidate for not owning stocks intelligence, research, tips, analysis -- it means little account management, discipline, tough nerves -- it means everything my account is down over 95% from March steady levels I doubt I can even manage a covered call strategy with a tame stock like General Electric in order to generate income monthly the temptation to buy stocks on margin is so great broJohn has invited me to visit Cuba with him I might go, need to get away when I come back, time to fix roof and look for work that or escape to some foreign land and attempt to run a daycare center, or become a tennis pro who better to meet nice women? sincerely, RIP Jim Willie Corned Beef