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To: Nihontochicken who wrote (20240)	1/20/2005 11:42:55 AM
From: isopatch	Respond to of 108702

Nihonto. Against The Gods, The Remarkable Story Of Risk, by Peter Bernstein is an excellent book about how risk management strategy and tactics have evolved from early human history. Roebear had an easy time convincing me to get a hold of a copy when he told me it was a good read, about a year ago. After reading Bernstein's, The Power Of Gold (the yr before that) figured his survey of the history of risk taking would also be good. It was. Not an easy book. But, well worth the time & effort for serious investors and traders. Isopatch

To: Nihontochicken who wrote (20240)	1/21/2005 8:15:07 AM
From: GVTucker	Read Replies (1) \| Respond to of 108702

Nihontochicken, RE: If I were king, there would be no gambling in investing - no options, no futures, no shorts, only longs. But gambling seems to be too inherent in human nature to eliminate anywhere. Sigh. Only problem is that if you kept out all the derivatives and especially the shorts, you'd kill liquidity, and there could easily be situations where there might be sellers but few buyers. Yeah, you'd take out the gamblers but you'd kill the market in the process.