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To: Sam Citron who wrote (4389)	2/12/2003 4:43:47 PM
From: Sam Citron	Respond to of 13403

Decided to hold my "ST" QQQ short position overnight, a very small hedge against a portfolio that looks quite long and vulnerable given the rising level of geopolitical and macroeconomic risk. Economic recovery has now been completely overshadowed by these mounting risks and by the administration's obsession with Iraq, which IMO does more to endanger our security than increase it. As Thomas Friedman pointed out in today's NYT, the difficulty is not in winning the war in Iraq, but in nation-building afterwards. With all the challenges associated with our domestic economy, I have my doubts that we are as willing to unilaterally undertake this costly burden as readily as we are to prosecute the war.