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To: Cary Salsberg who wrote (6373)	7/15/2003 7:20:51 PM
From: Sam Citron	Respond to of 13403

OT Good exposition of your KISS approach to investing. Your unique perspective, experience and steadfast transparency have made you a unique resource here on these threads. Your intelligent and concise approach to investing have made it much less painful to invest on the bleeding edge of technology. You are old enough to be able to "feel" that the world is changing, at least, when it comes to the place of technology in the average person's world. I have a broad definition of technology and believe it has been radically transforming our world since the discovery of fire. Whether it is really significantly different this time with the invention of the transistor and its prolific progeny or just a continuation of a very long term trend is for me an open question. I'd like to see the data, something simple like the % of budget spent on consumption of things that did not exist 5 years previously. Not quite so simple though, as the chip component inside traditional products, like cars, keeps expanding. Since I first met you on the blood thread in 1996, I knew there was much I had to learn from you. At the same time, there are certain truths I just have to discover for myself. I'm not a very good follower. I tend to be much too eclectic in my approach, which I have probably tended to justify too often in the name of diversification. So I sometimes perhaps try too many different approaches and this perhaps gets me into trouble. A case in point may be my current XLNX reverse costless collar, where I have bought calls from premiums received by selling naked puts, creating a substantial synthetic leveraged long position that goes poof on the third Friday of January 2005. Much simpler to just scale down buy and hold. I liked the risk return ratio of the option spread though it certainly poses a timing risk element. Or maybe, I simply have too much propensity to gamble. Sam