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To: sea_biscuit who wrote (9450)	2/4/1998 4:05:00 PM
From: Jock Hutchinson	Read Replies (3) \| Respond to of 25814

Dear Dipy; A few observations in reply to your post. First, a loss of fifty percent is mathematically twice as harmful as a gain of fifty percent is beneficial. You need a gain of one hundred percent to overcome a loss of fifty percent. More importantly, I would disagree with your categorization of of investors on the Forbes 400 list as long term holders--including Mr. Buffett. True, the essence of Mr. Buffett's strategy is to hold long long term. However, his source of funding was highly leveraged--using other people's money from insurance reserves. On the other side of the coin we have Mr. Soros who is clearly a momentum trader. More significantly, most of the great fortunes were accumulated by constantly monitoring substantial day to day risk --which is the essence of momentum investing.

To: sea_biscuit who wrote (9450)	2/4/1998 4:36:00 PM
From: shane forbes	Respond to of 25814

Dipy I do agree with "I suspect it [momentum investing] is the same with most people, but they generally deny it and discover it for themselves over a few years' time..." LSI stalled a bit today but at least volume was not excessive - 1.8 million vs. 2.8 and 3.0 over the last 2 days. Never ever expected straight up to 29-30. Watching closely and intently! Got a bit concerned this morning. But figured World War III would at least cause some to sell! Any way as I've said before we need more volume. Will have to just wait and see.