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Technology Stocks : Ascend Communications (ASND) -- Ignore unavailable to you. Want to Upgrade?

To: muleskinner who wrote (29231)	1/3/1998 2:43:00 AM
From: James A. Shankland	Read Replies (2) \| Respond to of 61433

I should have [shorted ASND] a month ago, and I would have been in one hell of a shape by now. My problem was I always thought it was going to make its move up. Indeed. It's always easier to predict the past than the future, and the best investment strategy is simply to have perfect foresight :-). For those of us with flawed foresight, there are various hedge plays that mitigate risk in exchange for reducing upside potential. Buying protective puts is such a hedge play, but, in my opinion, rarely a good one. The people writing those puts are not in the charity business; nor did they just fall off a turnip truck. The puts are priced accordingly.