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To: Elroy who wrote (26702)	12/28/2005 11:22:01 AM
From: Rarebird	Read Replies (2) \| Respond to of 57684

You may be right. However, I've listened to a lot of hedge fund managers who have been interviewed on Bloomberg Business Radio in NYC in December and they have all said that they have already lightened up on the long side after the nice November run up. In spite of the poor performance of the Dow, S@P and Nasdaq, it has been a good year for most diversified mutual fund holders: ""Approaching yearend, the average among more than 4,000 stock funds tracked by Bloomberg has trounced the Standard & Poor's 500 Index, the stock index most commonly used as a performance measuring stick. Through the end of last week, the average equity fund was up 10 percent, while the S&P 500 had gained 6.4 percent, including dividends." bloomberg.com That disparity has grown even bigger today. And by the way, I haven't hedged my longs yet. But I'm going to in the first half of January 06. It's my "New Years Resolution" too. PS I rarely if ever listen to CNBC for more than a minute or two, execept to get data. Bloomberg Business Radio is much better. It's more objective, with a lot of diverse commentary and more interesting guests.