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To: Jane4IceCream who wrote (94870)	12/14/2001 3:02:25 PM
From: Box-By-The-Riviera™	Read Replies (1) \| Respond to of 95453

i made millions just watching the market and doing absolutely nothing top that!

To: Jane4IceCream who wrote (94870)	12/14/2001 3:57:59 PM
From: kodiak_bull	Read Replies (1) \| Respond to of 95453

Janey, Good thing you have some fact checkers. "Was a PRO broker on Wall Street for years" Not. He was a licensed broker (retail) in semi-rural flyover land for a firm which has headquarters in NYC. Big difference. I think he has always inhabited the outdoor region of central south Ohio, and the indoor region of a high gloss finished knotty pine panelled converted basement "office" from which he operates. Picture a macrame "Daddy's Office" framed on the wall. One word about brokers as pros; they are pros in the sense that shoe sellers at Thom McAnn are "pros," that is, they get paid to push product. The shoe salesman doesn't know about the price of leather in Brazil, the construction of a Cuban heel, or whether The Green Shoe Company (source of the famous "Green Shoe" of securities law, public offering fame) was ever profitable. His job is to be able to find you a size 6 1/2 pump in navy and if not, sell you a 6 1/2 something before you go back out into the Mall. Brokers get a daily tout sheet from headquarters and make their calls. Brokers and their investing knowledge gave rise to the rhetorical truism: "But where are the customers' yachts?" Anyone who knows anything about Wall Street knows that the real pros are the equity traders, the risk arb traders and the proprietary (firm capital) traders. Being a trader is what we aspire to when we commit capital to one or another of our ideas. Unlike the fairy tales of the Brothers Grimm (Lone Ranger and Tonto, and I mean "Tonto" in the fullest Castilian sense of the palabra), traders are doing great when they are winning 60% of their trades and trimming quickly 40% of their losses. The whole credibility gap comes from the local Grimm Brothers when they posit spotless investment records and always making the call, legging in at just the right time, slicing and dicing, and exiting at the top of every move. I spent 10 years working with and then working for bulge bracket firms, many of the last years advising the boys on the equity trading desk. (Of course, if you and Joel insist that you "purchased all [my] stocks at their very low and sold them at their very highs. In REALTIME too!!" without adding an appropriate G, GGG, VBG or :^), you may plunge into the credibility gap with los dos tontos as well. :^) Vaya con Dios, amiga, Kb