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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: yard_man who wrote (30817)	8/9/1998 2:45:00 PM
From: Knighty Tin	Respond to of 132070

Tip, I always try to be internally consistent. I can still be inconsistent with reality, but not with myself. -g- For example, my dog can whip your dog because he has sharp teeth, is internally consistent. My dog can whip your dog because my hound just got beat up by a squirrel, is not internally consistent. And, of course, my dog can whip your dog because he is a chihuahua while you only have a pit bull is internally consistent, but sort of out of touch. -g- I developed the thirds and 90/10 after a lot of experimentation. A lot of folks used 90/10 back in the 1970s and early 1980s, but it never worked for mutual funds. Part of the reason was the short short rule, which made taking profits very difficult, and with options, youse gots to takes em whens youse gots em. He who hesitates runs a solid risk of turning a big winner into a loser. And the 90/10 funds also had the disability of a Board of Directors who always wanted to keep 10 pct. in options no matter what. I was offered one of those funds to manage back in 1982, but I turned it down. Now, without the short-short rule, it would be a sure winner. But now, nobody is offering such a fund. -g- Mutual fund muckety-mucks are not known as visionaries. I have found that using 90/10 and thirds, my occasional feelings of panic and cowardice are safely repressed and I can swashbuckle like Errol Flynn. --g- MB