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To: Jacob Snyder who wrote (8714)	7/20/2001 6:44:23 PM
From: Skeet Shipman	Read Replies (1) \| Respond to of 10934

Hi Jacob, In the South Seas there is a cargo cult of people. During the war they saw airplanes land with lots of good materials, and they want the same thing to happen now. So they've arranged to imitate things like runways, to put fires along the sides of the runways, to make a wooden hut for a man to sit in, with two wooden pieces on his head like headphones and bars of bamboo sticking out like antennas--he's the controller--and they wait for the airplanes to land. They're doing everything right. The form is perfect. It looks exactly the way it looked before. But it doesn't work. No airplanes land. (R Feynman 1974) Are you cargo cult investing? Skeet

To: Jacob Snyder who wrote (8714)	7/30/2001 5:19:41 PM
From: Allen Furlan	Read Replies (1) \| Respond to of 10934

Jacob, read your bio and past few posts. Back in March I posted a strategy on imnx using ratio writes of leaps and you had a thoughtful reply. Now I notice you are interested in both ntap and emc, both of which I have in a arbitrage position with brcd leaps short. Message 16099831 FWIW I believe there is a good opportunity to profit by creating arbitrage positions selling out of money leaps on stocks in sector and simultaneously buying more reasonably priced stocks in same sector. This is exactly what hedge fund managers do but using stocks rather than options on the short side. Low volumes prevent them from creating leaps based short positions. Also the little guy sometimes has the advantage by virtue of his small positions. Maybe we can have a further dialog on this subject on the arbitrage thread if you are interested.