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Gold/Mining/Energy : Epic EAS.v (formerly Epic ERB.v and Safari SIR.v) -- Ignore unavailable to you. Want to Upgrade?

To: CLK who wrote (1776)	4/4/1998 5:22:00 PM
From: Chip McVickar	Read Replies (2) \| Respond to of 3335

CLK -- Investment Styles - When to Sell First I think you have to seperate the speculative stocks from those that are established....the SIR/ERB's from the Noble Affiliates. SIR/ERB are speculative....invest money here that you are willing to lose 50% or perhaps more. The entry rules are quite clear get in as close to the bottom as possible....sell when the play turns against you.....I prefer to take a position and hold until the purchase is proven. If proven...I will hold my seed stock for years....purchasing more as the play developes and selling if it turns against me. In these plays it is an all or nothing lottery. When we move from speculation to establishing this company it is a new game. Although I will trade any new money invested on the swings of these volital emerging companies.....once established....I will stop trading and allow it to grow....until managemnt or conditions change my opinion. A little different then what the market timers and brokers want you to do. Larger Companies I'm a postion investor -- acquiring dominant companies in all respects and within sectors that I believe will grow substantially into the future. Stocks that I am envolved with go back into the 1970's and have never been sold. Many have split 3, 4 and 5 times over this period. Example Pfizer I have also moved out of sectors or companies that nolonger produce or appear to be managed properly. But, I am very reluctant to sell. Example, sold Woolworth when it lost its way. Conditions of the national short-term economic swings are almost totally ignored....market timing is not evident. But new purchases are established on any significant price pull backs. As in 1987....market timing is very difficult even for the pro's. Hedging conservatively can accomplish wonders. But ignoring serious changes in macroeconomic conditions like Japan or EMU or international wars is not to be ignored. They are trend changing----dynamic forces that cannot be dismissed. Those 3 evolving conditions are in them selves larger then any thing we have seen since the end of the Vietnam war and Nixon's "floated currencies". Anyway, It's kind of a Ben Graham, investing style...but not with so much capital. If SIR/ERB comes to fruition...we will meet at a shareholders meeting. Chip