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

To: Shoibal Datta who wrote (43924)	3/17/2001 12:27:45 PM
From: advocatedevil	Read Replies (2) \| Respond to of 70976

OT - Short family humor This morning I was discussing with a friend a very negative comment I recently received about shorting AMAT during this tech slide. The market turn has had a serious and lasting impact on the finances of many folks, and it appears there are some that believe those who make a bearish argument are at least partly to blame for their misfortune, and at most are simply un-American. My young daughter who was listening to our talk spoke up and said, "but when you have a bunch of lemons, aren't you supposed to make lemonade?" I couldn't have said it better myself. AdvocateDevil

To: Shoibal Datta who wrote (43924)	3/17/2001 1:29:39 PM
From: Sam Citron	Respond to of 70976

Shoibal, The market can certainly tolerate fear, but it prices it in. Equities have to sell at attractive prices to tempt buyers in an increasingly uncertain environment. Immunization is only obtained at a stiff price. If one needs full upside participation but limited downside risk, the put premiums (as measured by $VIX) have been rather high lately. One might ask at what price is a vaccination simply too expensive for the prudent investor? Sam