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To: mmbw who wrote (37501)	1/3/2001 11:29:54 PM
From: Uncle Frank	Read Replies (1) \| Respond to of 54805

>> These past two years have demonstrated very clearly that investing should be long term. Martha, that's quite an evolution in viewpoint. Early last year (or was it in 1999?), you felt that it was possible to out-trade the results of a ltb&h program. Would you mind telling us what led you to your current philosophy? >> Once you have the stocks in your portfolio which you are confident in, that up and down emotion decreases. Not saying it goes away totally, it's just easier to take. I couldn't agree more. Once you've done the dd to understand why you should own a particular stock, you develop a much higher tolerance for its volatility. That's not to say that I enjoyed 12/31/00 and 1/2/00; they were brutal and a tough test of conviction. uf

To: mmbw who wrote (37501)	1/4/2001 8:12:24 AM
From: DownSouth	Read Replies (1) \| Respond to of 54805

Even though the last month has been brutal I still remained calm and my stomach was just fine. Reflecting on my responses I have come to the following conclusions: 1. If you are a new investor it is necessary to feel the highs and lows. Sorta like paying your dues. And really no different than falling in love, getting a job, having a child, etc. 2. Once you have the stocks in your portfolio which you are confident in, that up and down emotion decreases. Not saying it goes away totally, it's just easier to take. 3. One must learn to separate passion from emotion. Yes we are passionate about our stocks and we do believe in them, but we shouldn't let our emotions get the upper hand. Maybe one needs to become "objectively passionate", if such a state exists. Excellent post, Martha. Many of us started experiencing these feelings last year (about March, I believe). I still remain committed to LTBH, though I am going to refine my sell strategy for the purpose of raising cash for living expenses. Thanks for the well written thoughts.