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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Knighty Tin who wrote (93156)	11/19/2001 2:45:11 PM
From: Tommaso	Read Replies (1) \| Respond to of 132070

I am really replying to your comment on the use of margin over on the Clown-Free thread. I've used margin in a big way twice, at market extremes, buying as much as I could of discounted closed-end funds in 1981-83, and even running continuous credit line at the bank (all interest was deductible, then, remember?. Then I was forced to use margin to maintain my XLK short position through the height of the mania. I did not like that at all and liquidated the debt as soon as the techs crashed. But I don't like some twerp calling me up and talking as if he was an enforcer for a pinball-machine syndicate because I got a Fed Call for $175 and he wonders if I can meet it. This actually happened about eighteen months back. So I only use margin now for a one-day period while a mutual-fund redemption is in progress. I don't think I will even do that again.