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Strategies & Market Trends : Roger's 1998 Short Picks -- Ignore unavailable to you. Want to Upgrade?

To: Mike Greene who wrote (6746)	4/10/1998 8:48:00 PM
From: Pancho Villa	Read Replies (2) \| Respond to of 18691

I didn't understand your reply to my post. I was just simply asking if you had cash on the side lines to buy the dip, planing to sell in between or use marging. This is not related at all to how large your portfolio is. I think you misunderstood my post. Pancho

To: Mike Greene who wrote (6746)	4/10/1998 9:21:00 PM
From: Pancho Villa	Read Replies (1) \| Respond to of 18691

>Where ever you made or inherited your money I bet you ten to one you didn't make it in the market. < Portfolio size is kind of irrelevant. I don't know where from you got the idea about the size of mine but I generally do not disclose the size of my trades. I just want to make sure you understand I did not intend to attack/offend you in any way in a previous post. It would be only normal that if I have been around a bit longer than you have [this may not be the case] my portfolio may be larger. This would be totally independent of having any better investment skills than anyone else. To answer your question, my old man, thank good, is still alive and unfortunately I did not have any rich uncles so I have not inherited any money . I do manage the family trust in a very conservative manner. Right now that is about 25% net long. I do hold shorts in there but not as aggressively as I may do in my own account. As for the source of my own portfolio, it has been a mix of hard work, [the not so high income generated from being a college professor, coupled with variable consulting income and my wife's salary as an MD - she spent most of her life studying/doing research so it has only been recently that this has been a significant factor] compounded by market returns. Until last fall, I had always been fully invested in equities, even using significant margin in 96 and part of 97. In the last 15-17 years any fool fully invested in the market did very well [for me this is in the order of 16%/year, even including the recent deep]. At 15% compounding, capital doubles every 5 years. I am not bragging about any type of investment skills I was just dragged down by the river. Most recently, as you may have read here at Roger's, I have had a close to -22-25% return year to date. I have no reason to hide that from anyone here. Most people should easily beat my three month performance! Pancho