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To: Bill Harmond who wrote (109378)	10/2/2000 4:53:53 PM
From: GST	Read Replies (2) \| Respond to of 164685

William: "Buying any stock at at any price "requires some degree of speculation about how things will turn out". Actually, for most of us, this concept tends to be related to the degree of probability that something will happen. Future events with a low probability but a high potential payoff are usually deemed to be "speculative" -- playing the slots at Vegas is a good example. You know that sooner or later a dollar will go into the slot and hit the jackpot. You also know the odds are against you for any given dollar. That is why most people do not allocate most of their "investments" to playing the slots -- they know they are likely to lose over time. Nor would they consider blackjack an adequate "diversitifcation" strategy. Actually, winning big the first time is probably the worst thing that can happen to a person -- it tends to make people think they won because of some ability, skill, or knowledge having to do with them personally -- so of course they keep playing till all the money is gone -- the house counts on this behavior. By the way -- I have been remiss -- good luck.