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To: Slava Chechik who wrote (22756)	5/23/1998 10:10:00 PM
From: jbe	Read Replies (1) \| Respond to of 95453

OFF TOPIC Zdravstvuite, Slava! Thanks for your thoughts about WEBS & CEFs. Too bad I didn't see them before I posted a long disquisition here on that subject. It's also too bad if you are right in saying that the discount on CEFs is meaningless, because I made a big point of stressing its meaningfulness! Ill have to sleep on that one. On another point: I don't think the low volume of the WEBS is that important. CEFs also have low volume, and, for all I know, mutual funds may too. (Their volume numbers are not published.) The only problem I have personally had with low-volume stocks is the wide bid-ask spread. Disposing of them, in itself, has not been a problem. Are MITTS too good to be true? Check out the article on MITTS that got me interested in them, and judge for yourself. I posted the article (by James Glassman, who writes a financial column for the Sunday Washingon Post)on a new SI thread called "Bear!" I posted it there because I wanted to know whether the thread regulars thought buying MITTS might be a good way to protect oneself in the coming storm (if it comes). After all, the introductory post on the thread specifically states: "It is time to ponder proper strategies for a down market. Potential triggers, strategies, and specific investments are all welcome subjects." Well, Glassman was greeted with growls & snarls, which, no doubt, is what one should expect from True Bears. (True bears are born, not made.) In any event, here's the URL. Please tell me what you think: Message 4552826 As for your advice on investing, it's very good advice. As a matter of fact, I have been following it fairly closely all along (although I am by nature a little too slow on my feet), not even knowing what you would advise. But I think that you -- and others -- have perhaps misunderstood the question I was asking. My question was: does it make sense for an investor who is not employed in the field to spend a lot of time on the care & feeding of a portfolio of individual stocks, if he can't beat the S&P (or an index fund surrogate), or even managed mutual funds? I think the clear answer is no. I used the performance of my own personal stock portfolio and funds portfolio (0% vs. +16% year-to-date) only to illustrate the question -- and the answer. I gather that you work full-time buying & selling stocks. I don't. Rather, I shouldn't. I can't let stock mania interfere with my regular job (unless it pays me enough to quit working altogether)! <gg> jbe