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To: Beachbumm who wrote (25118)12/14/1997 9:41:00 PM
From: McNabb Brothers  Respond to of 176387
 
Beachbumm,

STEI and all my other longs are quite boring compared to my short positions! None of my longs are used as a trading vehicle, not even covered calls! Found that selling covered calls on your core holdings one will end up getting the good stocks called from you and over a period of a few years one will end up with a bunch of dogs in ones portfolio! When we think it's time to reduce our holdings in one of our core holdings we sell with no if', ands, or buts! KO is one we reduced our holdings in this past year, but still have some left and will buy again at lower prices if it gives us a chance!

Take a look at SRV, HB, STEI, and a few of the other death care stocks and see how they have performed over the past 20 plus years! (STEI is a relatively knew company being traded anyway) As far as people cutting out the middle man, we have been in business since 1926 and we are selling pre-paid funerals, which is when a family will come in and choose what they would like before hand and even pay ahead of time, and we are selling better services and merchandise today then ever before! Even our cremations, people are having traditional funerals before the cremation takes place in most cases now! Sometimes my brother and I even wonder when the funeral service will peak out, but as of now there is no sign here in the heart of the bible belt, with the type of pre-paids we are selling! Which future buisness foe us!

Hank