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

To: Knighty Tin who wrote (31279)	8/19/1998 6:38:00 PM
From: upanddown	Read Replies (1) \| Respond to of 132070

Mike, I know that you have talked about this before but I can't find the posts. I understand the 90/10 but could you go over again your strategy for buying a third of an options position at a time...what triggers the buy of the initial third and subsequent thirds and also the unwinding of the position by thirds ? TIA, John

To: Knighty Tin who wrote (31279)	8/20/1998 4:15:00 AM
From: PaperChase	Read Replies (1) \| Respond to of 132070

MB. If you were (are?) managing a contrarian fund focused on the tech sector with about $70 million in assets, would you take short positions in tech stocks or would you use your 1/3 approach using puts. (I recognize that a contrarian fund isn't always short and may equally be long at times.) If being short most stocks is high risk in this market for individuals, isn't it equally as dangerous for funds? If I am reading the profiles correctly of some bear funds like BEARX biz.yahoo.com , it seems they are getting caught short on rising stocks without some type of hedge like options. I personally couldn't see myself with an outright short on MSFT (like BEARX) in the middle of a manic market.