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To: pezz who wrote (55866)	11/11/2004 7:30:17 PM
From: TobagoJack	Read Replies (1) \| Respond to of 74559

Hello Pezz, the season for speculation is on. Over the past month I have aggregated a mind-bendingly enormous position in Sun Media finance.yahoo.com . I will likely continue to expand the position, day by awful day, week after anxious week, from mind-bendingly enormous to brain-pickling humongous. It is meant as a LTBH. I am nervous. I must hang on until arrival at the promised land. Chugs, Jay

To: pezz who wrote (55866)	11/12/2004 1:48:02 PM
From: TobagoJack	Read Replies (1) \| Respond to of 74559

Hello Pezz, Tonight’s Report: (a) Sold Chesapeake Energy as you did, but at USD 17.06-17.7/shr. I paid USD 14.95. (b) Sold Andarko at USD 67.11. Paid 62.16. (c) Sold Pioneer Natural Resources at USD 33.75-33.76. Paid 31.70. (d) Sold Petroquest Energy at 4.69-4.70. Paid 4.46. (e) All of the above were purchased at the same time, since I could not tell one from another Message 20527275 <<September 15th, 2004>> as they were all in the same grab bag. Congrats on INCX. Nice one. Uncommon sense. I cannot play with hotsie totsies now, as I cross the Valley of the Shadow of Death getty.edu on foot, with no rations, and forgot my weapons. Oh, what the heck, just bought some ZICA at 3.84-, just to feel participative. The valuation is ridiculous, but nothing says it cannot go to absurd. Chugs, Jay

To: pezz who wrote (55866)	11/17/2004 11:21:34 PM
From: TobagoJack	Respond to of 74559

Hello Pezz, Today’s Report: I counted my blessings, and getting ready to count them again tomorrow. My precious micro-cap sub-penny Sun Media did another big volume by mid-day (it’s all relative) today finance.yahoo.com , is at HKD 0.02/shr, and as a result, I am even happier than usual, looking forward for more brilliant sun shine days and weeks and months and years. But then again, it doesn’t take very much for my unusually optimistic disposition to be further cheered … the number is somewhere between 25 and 75%, say over an anxious time of around 60 days :0) As the USD is still tumbling even as my HK-based assets are getting re-priced up, the aggregate YTD NAV gain now stands at 14.11%. Given the illiquid nature of a very significant portion of the loot, I will simply mark it as 14% :0) In the meantime, my physical bullions, AUDs and CADs, also cheer me. So, cheer cheer cheer all around. No, I do not have a price target … because I actually practice some selected LTBH. Chugs, Jay Reference: Progression of Mania and Madness: Message 20759827 <<November 11th, 2004>> Message 20736175 <<November 5th, 2004>> @ 0.012 Message 20648828 <<October 15th, 2004>> Message 20625572 <<October 10th, 2004>> Message 20606724 <<October 6th, 2004>> Message 20601818 <<October 5th, 2004>> @ 0.017 Message 20597685 <<October 4th, 2004>> @ HKD 0.015 Message 20584130 <<September 30th, 2004>> @ HKD 0.015

To: pezz who wrote (55866)	11/19/2004 5:49:10 AM
From: TobagoJack	Respond to of 74559

Hello Pexx, Today's Report: As hoped for yesterday Message 20778114 ... I got to count my blessings today as I did yesterday. I also added a tiny bit more to my 0307 finance.yahoo.com (it's up 10% from when we last communicated) holdings, just to feel more participative, and be able to appreciate its glory a tiny bit more. I am hopeful that the company can do great things in the Chaotic that is China, the Schema that is Greater China, and the Construct Chinese Asia, while the world rushes towards its appointment with a defining Crisis. The ride will be Volatile and so I simply do not know that HKD 0.022 is the right price at this stage of the company's journey on its Lonely Path, but we will find out, by Surviving the turn of one corner of Convolution after another. What fun, for now. Chugs, Jay Reference: Progression of Mania and Madness: Message 20778114 <<November 17th, 2004>> Message 20759827 <<November 11th, 2004>> Message 20736175 <<November 5th, 2004>> @ 0.012 Message 20648828 <<October 15th, 2004>> Message 20625572 <<October 10th, 2004>> Message 20606724 <<October 6th, 2004>> Message 20601818 <<October 5th, 2004>> @ 0.017 Message 20597685 <<October 4th, 2004>> @ HKD 0.015 Message 20584130 <<September 30th, 2004>> @ HKD 0.015

To: pezz who wrote (55866)	11/19/2004 6:08:06 AM
From: TobagoJack	Respond to of 74559

Hello Pezz (had to fix some spelling etc but ran out of time since interrupted by very quick dinner :0) Today's Report: As hoped for yesterday Message 20778114 ... I got to count my blessings today as I did yesterday. I also added a tiny bit more to my 0307 finance.yahoo.com (it's up 10% from when we last communicated) holdings, just to feel more participative, and be able to appreciate its glory a tiny bit more. I am hopeful that the company can do great things in the Chaos that is China, the Schema that is Greater China, and the Construct that is Chinese Asia, while the world rushes towards its appointment with a defining Crisis. The ride will be Volatile and so I simply do not know that HKD 0.022 is the right price at this stage of the company's journey on its Lonely Path, but we will find out, by Surviving the turn of one corner of Convolution after another. What fun, for now. Chugs, Jay Reference: Progression of Mania and Madness: Message 20778114 <<November 17th, 2004>> Message 20759827 <<November 11th, 2004>> Message 20736175 <<November 5th, 2004>> @ 0.012 Message 20648828 <<October 15th, 2004>> Message 20625572 <<October 10th, 2004>> Message 20606724 <<October 6th, 2004>> Message 20601818 <<October 5th, 2004>> @ 0.017 Message 20597685 <<October 4th, 2004>> @ HKD 0.015 Message 20584130 <<September 30th, 2004>> @ HKD 0.015

To: pezz who wrote (55866)	11/19/2004 8:12:53 PM
From: TobagoJack	Read Replies (1) \| Respond to of 74559

Good Morning Pezz, Last Night’s Report: A. I shorted a dollop of NEM Dec Puts strike 50 @ USD 1.35, there was something about birthright I had forgotten to claim for a while :0) B. I shorted a dollop of NEM Jan Puts strike 50 @ USD 2.20, samo samo birthright. C. I sold, out of inventory, my Agnico Eagle Mine finance.yahoo.com @ USD 16.23/shr for a gain of 29% without considering the naturally occurring and necessarily recurring option wagers. The AEMs were purchased via these transactions and exchanges: Message 18253310 <<November 19th, 2002>>, Message 18732391 <<March 21st, 2003>>, and Message 18949830 <<May 15th, 2003>>. I will not trouble you with the details of all the wake-up-go-to-boyz-room-and-then-short-some-option-trades, they would only serve to lower my cost basis by 20+% or so. D. I sold, out of warehouse, my Pan American Silver finance.yahoo.com @ USD 18.32/shr for a gain of 9% not counting the option maneuverings. The PAAS were purchased here Message 19663584 <<January 7th, 2004>>, and here Message 19930269 <<March 18th, 2004>> Chugs, Jay

To: pezz who wrote (55866)	11/21/2004 11:35:52 PM
From: TobagoJack	Read Replies (6) \| Respond to of 74559

Hello Pezz, Today's Report: The financial refugees are once again on the move. I looked around my neighborhood for an escape portal readying for triple waterfall galaxy-wide re-pricing. I found one possible wormhole to a parallel monetary universe, and so decided to test it out by sending a tranche-strength hoard of exposed HKD into the portal to seek shelter on the other side. The hoard emerged from the other end of the wormhole, less passage money, as SGD (Singapore Dollars). SGD is somewhat like the Swiss Franc, but based in an neighborhood of greater instability, under the protection of the US aircraft carriers, ruled by steady and wise folks, minus the reality of democratic mob, add on the fiction of electorate governance, and should the Asian currencies revalue against the USD, would ride along, without the baggage of Thai Baht, Korean Won, Japanese Yen, Taiwan NDollar, Indonesian this and Philippines that, and less of the dangers of Malaysian capital control and Mainland China same. Chugs, Jay

To: pezz who wrote (55866)	11/22/2004 12:58:36 PM
From: TobagoJack	Read Replies (2) \| Respond to of 74559

Hello Pezz, Tonight’s Report: (a) Sold my CRESY at 15/shr. Bought a year ago Message 19474081 <<November 6th, 2003 … 12.98/shr>> (b) Sold my IRSA at 9.60-69/shr. Bought at the same time as above, at 9.50/shr. (c) Shorted a dollop of INCO covered Calls April strike 40 @ 1.95/shr (d) Shorted a tranche of Accredited Home Lenders finance.yahoo.com at 37.54-37.55/shr. Betting on the collapse ;0) Chugs, Jay

To: pezz who wrote (55866)	11/22/2004 11:03:22 PM
From: TobagoJack	Read Replies (2) \| Respond to of 74559

Hello Pezz, Today's Meandering: I added by tranches to my Great Eagle (hk.0041) position established here, not so long ago (like 8 days) Message 20736175 <<November 15th, 2004 … I bought dollops of Great Eagle uk.finance.yahoo.com at HKD 16.80/shr>> at HKD 18.35-18.50. My price target is HKD 21/shr in a few days perhaps or a 20% loss for refresher course on discipline. It is still <<the developer of the neighborhood of the ex-Seafood Restaurant in Mongkok, same as where the brothel premise was situated. Most of their NAV is tied up in the redevelopment greateagle.com.hk >>. It remains true that <<should China hard land and interest rate rise, Great Eagle will get crushed, else it should do well>> My YTD NAV gain is now at 18.11%, due in no small measure to uk.finance.yahoo.com . This is a very fragile gain. And yet, I chant …. ‘ohmmmmnnnn, LTBH LTBH LTBH … ohmmmmmmnnnn’ Chugs, Jay

To: pezz who wrote (55866)	11/24/2004 1:19:04 AM
From: TobagoJack	Read Replies (2) \| Respond to of 74559

Hello Pezz, Today’s Combat Log: <<the wind may be at your back for a bit>> ... the wind appears to be also behind my back ... something to do with beans and such ferment-able feed ;0) Question: Did you know a pig’s orgasm lasts up to 30 minutes? The oxygen molecules around me are singing; the intoxicating music of undeserved gain and possibly fatal song of unmerited birthright. I offloaded my Great Eagle uk.finance.yahoo.com shares at HKD 19.75/shr. They were bought so Message 20793097 <<November 22nd, 2004 … 18.50/shr>> and thus Message 20736175 <<November 5th, 2004 … 16.80/shr>>. Net aggregate gain 6.76% but on a big number over very few days and hours :0) I simply could not take the pressure anymore. Stuff (profanity and making moolah occasionally seem to go together, and at other times, with loss of same moolah) my original HKD 21/shr target price; take the moolah and run, Jay, run fast, silently, into the darkness. Never ever believe in your BS about birthrights; the moolah, they do not belong to you! In the mean intense time, my uk.finance.yahoo.com Sun is powering the portfolio to new YTD high watermark of 19.21%. A local Chinese language newspaper article comments that the company is undergoing reorganization, led by a mainland company, and apparently has a bunch of deals, opportunities, and distressed situations to work out, scheme over, and otherwise exploit. What could it all mean? Could it be the Construct that will navigate a Convolution via a Schema? On this LTBH I must have a steady hand, hold the course, despite the imminent danger of global equity collapse, and especially because, perhaps, that chaos and turmoil will only present great exploitable opportunities to the Sun. I am, in a strange way, hedging to protect my gains in HK/China by progressively shorting the seemingly unrelated US housing shares, and by and by, eventually, US-traded Chinese InterStupidNut shares and perhaps even semiconductor paper. Chugs, Jay

To: pezz who wrote (55866)	11/24/2004 2:47:51 AM
From: TobagoJack	Respond to of 74559

Hello Pezz, Today’s Final Trade: I decided to participate in a Japan-focused Real Estate partnership after much pondering and a bit of agonizing. Pondering because: · The deals that has been lined up for the partnership yield north of 10-11% per annum gross (net 7-7.5%), because the fund set its sight on everyday everyman type of properties, and not the trophies desired by Goldman Saches and Morgan Stanley · The fund has arranged to leverage our equity by greater than 10:1 with non-recourse bank financing and at large positive carry (i.e. low-low rate in American language) · The positive carry (difference between rental income and interest + expenses) will be paid to the partners via a Singapore shell (enjoying 5% tax treaty benefit with Japan) and paid in hopefully soon-to-de-couple-and-sharply-appreciate Japanese Yen · Asymmetric risk / reward: should Japanese real estate appreciate 20% within the next 6 years, and taking dividends into account, the partners will gain by 200+%; but should the same real estate depreciate by 20%, the partners will still gain by 17+%, and all without taking Japanese Yen appreciation into account · I understand from the latest second-hand report that local Japanese tycoons are beginning to buy real estate – a bullish sign, and before the everyman of everyday gets wise · The above projections are possible because of what I term ‘speed of light’ financial physics: absurdly low interest rate, obscenely high rental yield, in combination with ridiculously easy bank limitations · I need the ‘speed of light’ financial physics to work for my Erita’s achamchen.com education, exotic travels, first car, and perhaps an interview outfit for securing a position as a wealth management girl at a heavy duty investment bank, or starting up a resort somewhere nice Agonizing because: · I like cash · Cash is flexible, for lightening raids and for speedy retreats Anyway, in for a penny in for a pound, cash is cheap and getting cheaper, and so must be put to work. Chugs, Jay P.S. My hedging moves in the US market space is based on the conviction that deals such as above could be just around the awfully scary corner in the USD-homeland.