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To: tekboy who wrote (35342)	11/27/2000 1:38:28 AM
From: kumar	Respond to of 54805

tekboy, thanks for the post. I've been where u think u are. I got big time losses (from IRS view) too. My only consolation is that I have enough "work years" available to recoup the losses. I consider it "cost of education". cheers, kumar@itsnottheendofthemarket.pov

To: tekboy who wrote (35342)	11/27/2000 2:16:52 AM
From: debby	Read Replies (4) \| Respond to of 54805

Tekboy, I cannot believe how much alike we are. I feel the same way you do and the post you just wrote describes my mistakes. There are so many stocks I want to buy but cannot because my money is tied up. I have been thinking of taking a cash advance on my credit card and buying some great beaten down stocks. I'm afraid to do this because what if the market goes down further? Any thoughts you have would be appreciated.

To: tekboy who wrote (35342)	11/27/2000 5:32:35 AM
From: Mike Buckley	Respond to of 54805

For those of you out there who feel (or felt) as tekboy did about the unprecedented bull market being our last opportunity, I've always felt that there will always be tremendous opportunities. They may be in the form of understanding a company's opportunity long before the market mavens do. They may be in the form of understanding the immense, vast power of tax-deferred compounding which, frankly, few fully appreciate. They may be in the form of understanding an emerging industry at the sweet spot of product adoption. There will ALWAYS be new opportunities. There is no rush to make hasty decisions. There is no need to invest using Gorilla Gaming metrics (or any other method) before fully understanding it. With patience, understanding and execution of a long-term investing plan, I believe everybody's time will come. --Mike Buckley

To: tekboy who wrote (35342)	11/27/2000 1:06:23 PM
From: Dibbs	Respond to of 54805

Tekboy Cool Post Congratulations!

To: tekboy who wrote (35342)	11/27/2000 1:14:18 PM
From: Greg S.	Respond to of 54805

tekboy - excellent post. we are made of the same wood. what's encouraging is that our losses were not in vain, because we have learned some valuable lessons from them. i probably could have learned the same thing at a $150 investing seminar, but sometimes you need to sacrifice more for something to really stick. so yes, it is indeed the "cost of education." now let the next cycle begin, and let's put our newfound experience to work, shall we? -G

To: tekboy who wrote (35342)	11/27/2000 2:38:12 PM
From: Apollo	Respond to of 54805

Tekboy...... Your Cool Post was very well deserved, and very informative. best, Apollo

To: tekboy who wrote (35342)	11/27/2000 4:00:56 PM
From: StockHawk	Respond to of 54805

tekboy, that was a great post. Wanting to stay fully invested, wanting to grab bargains when seemingly available and wanting to stay off too much margin are three goals that are difficult to do simultaneously. One of the fascinating things about the Market is that the lessons it teaches are not always the same. Late last year, we tried a timing test to make stock purchases. In a raging bull market the test failed, and the Market taught that getting in ASAP was the way to go. If we had tried that test one year later, in a falling market, the lesson would have been quite different. Many times over the past few years the Market has taught "buy the dips" but this year "sell the dips" might have been the wiser choice. Most dips prestaged greater falls, and buy the second or third rebound might have worked better. Technology Investor Magazine just tried using stop losses, and guess what? In a falling market they concluded that stop losses work. Will they have the same results in the next bull phase? Apollo's question of our biggest mistakes is a great one. It's a wonderful learning tool. But in learning from our many mistakes we should not lose sight of one very important failing of many market participants. That is extrapolating the recent past into the future. Many relatively foolish moves were rewarded last year, while many relatively smart moves have been slammed this year. At one time I worked as an auditor, and one of our standing jokes was that we would draw conclusions "based on a sample of one." I know that's not very funny, but the point, of course, is that it takes many samples under different circumstances to effect a sound conclusion. And today's lesson, although fresh, is not more valid than yesterday's lesson. That might seem obvious, but it took me a while to get it, so it seemed worth mentioning. StockHawk