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To: ild who wrote (211382)	12/25/2002 10:21:14 PM
From: Joan Osland Graffius	Respond to of 436258

ild, As far as I can tell most of these folks have been long in the market since 2000. I only have two friends that listened to me in 1998 and 1999 and were open to do something to get their house in order to worry about capital preservation. One of these people has a husband that refused to take action to cover the risk. One couple I know moved their capital assets early in 2001 to bonds. I have no idea if this is the norm. I do consulting that includes evaluating 401k's and I have only seen one person that moved his funds to bonds early in 2000 - he was a professor of finance at a university <g> the rest have left their capital in equity funds during the down turn and the loses I have seen have been all the way from 50% to 90% from the best quarterly returns in late 1999 and early 2000. Who knows where the average Joe is with their market capital assets.

To: ild who wrote (211382)	12/25/2002 10:41:55 PM
From: Joan Osland Graffius	Respond to of 436258

ild, I had an interesting discussion with one of the folks communicating that I was watching MO or other tobacco companies for a trade at a 9 or 10 percent yield. I further said I would buy the stock and put on a spread selling calls as far out as I could and using that capital to buy puts, therefore insuring preservation of capital and get a 9 or 10 percent return. This person thought I was out to lunch being happy with this kind of a return. There is at least one person out there that thinks 10% return is not acceptable. Wonder how long it will take these folks to wake up!!!!