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Politics : Formerly About Applied Materials -- Ignore unavailable to you. Want to Upgrade?

To: Jacob Snyder who wrote (42892)	3/1/2001 6:06:00 PM
From: mitch-c	Respond to of 70976

A better idea is to set a small part of your portfolio aside as "mad money", and try out outrageous and crazy things with it, dangerous and exciting things. If you lose it all, well, consider it paying for entertainment. Keeps you occupied, off the streets and out of trouble, while you wait for LTB&H (where most of the money stays) to do what it's supposed to do. Wow ... I don't think I could have described my approach any better! Any ST option moves are with my "mad money," as you call it. I'm still sitting LT on a fair number of things, and I'm losing no sleep. Let time (one of the investing secrets people forget about) work for me, and I'll be rewarded. I also tell new investors not to play a "coulda, woulda" game with themselves. Absolute tops and bottoms are obvious in retrospect, but impossible to define as they happen. Psyching yourself out over a matter of 5-10% (or even fractions) is counterproductive - every hit is something to be proud of, even if it's not a grand slam. - Mitch