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To: Larry S. who wrote (47604)	4/7/2003 11:46:37 PM
From: BWAC	Read Replies (1) \| Respond to of 53068

I guess the whipsaw gets to play again tomorrow. Open up 40, stall 10 cents from highs, fade the close, prepare for the next rumor event. What are the odds on the trifecta? Sadman, Osama, and Impeachment?

To: Larry S. who wrote (47604)	4/8/2003 6:31:15 AM
From: Larry S.	Read Replies (2) \| Respond to of 53068

A good review of a book, and investing philosophy of Leon Levy, who just died: forbes.com some exceprts from the article: Unlike other investors, Levy does not pay too much attention to earnings, dividends and the "story" of a stock. Indeed, he urges investors to ignore all recommendations by stock analysts. The underlying reason: big securities firms have an ingrown bias for "overly optimistic forecasts" whatever the true climate for investment. Better look for out of favor stocks, he advises. Which leads Levy to what really fascinates him: the psychological dynamics of investing. Influenced as a young man by his father Jerome's overweening interest in economics, Levy is a scholar of the intersection between the stock market, economics and the psychological mysteries of investors. The collective madness that seized investors in the 1990s provides the persuasive evidence of the rule of psychology in markets," he writes. "After all, this was a period during which even the most sophisticated investors willingly suspended their sense of disbelief and, perhaps even more astonishing, dismissed facts and figures staring them in the face "If you are reluctant to sell, you are typical of American investors, who sell their winners and keep their losers," writes Levy. "Investors do this because the act of selling at a loss is an admission that they were wrong."