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To: Sam Citron who wrote (2270)	10/4/2002 3:22:20 PM
From: advocatedevil	Respond to of 13403

OT - Sam, I'm runnin' right now and will give your question a proper response soon. Talk to ya later! AdvocateDevil

To: Sam Citron who wrote (2270)	10/4/2002 7:32:53 PM
From: advocatedevil	Respond to of 13403

OT - RE: “What proportion of your capital gains during the past 5 years would you say have come from AMAT?” Sam, Since I’ve chosen to keep things like net worth, income and combined portfolio values to myself, let’s just say that cap gains from AMAT trading has been relatively insignificant in the grand scheme of things. FWIW, while it’s certainly true that I trade for both fun and profit, I do not risk enough for the results to possibly have any meaningful impact on my family’s current lifestyle or future expectations. RE: “I'm trying to understand why a flexible day trader/ swing trader like yourself with an excellent understanding of the dynamics of one company would still worship at the alter of diversification, when specialized industry and company-specific knowledge can often make the difference between gambling and intelligent investing.” Sam, Knowledge of the company, its sector, industry, products, management, finances, etc. is one thing. Knowledge of how its stock reacts to news, sentiment, price points, indices, volume, times of day/week/month/year, etc. is another. Both are important elements of successful trading, however the time and energy required to put it all together for just one stock is significant IMO. I’m simply not willing to make that same level of commitment across the board. So, like a lot of folks, I just give it my best shot keepin’ the majority of investments very conservative, relatively safe and diversified, and yes, boring too. (one last comment… I’ve done very well with those bonds and thank God for real estate! <g> so far, anyway). AdvocateDevil