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Strategies & Market Trends : Roger's 1997 Short Picks -- Ignore unavailable to you. Want to Upgrade?

To: sammy levy who wrote (9225)	1/1/1998 10:52:00 AM
From: Pancho Villa	Read Replies (1) \| Respond to of 9285

>>Are u saying to be long and short same position?<< No. This is shorting against the box. which lost the tax attractiveness it used to carry. I am talking going long stuff you think is going up [or an index, SPY's etc.] and short stuff you think is going down. If you are a wizard, you will make out as a bandit [very few people are]. If you can do no better than random picking long term you will get a return adequate for you long/short net exposure. Pancho PS: If you are no good at this [picking longs/short] and your net exposure is short you will very likely loose money as the current flow at the speed of about 10% annual return. Many wise people argue the market is so efficient no one can be really good at it, at least not consistently. Needless to say most people at Roger's do not believe this but IMO it pays to have some respect for the wise guys.