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To: Snowshoe who wrote (28443)	8/27/1998 11:56:00 AM
From: SliderOnTheBlack	Read Replies (2) \| Respond to of 95453

''going to get it''...? - Greg M... ??? I get it; I am betting one gargantuan final bet; that the very reason that this ''bet'' will work; is the historic reason there are so few Warren Buffets - so few people who are willing to make massive - ''burn all the bridges'' behind you type of ''bets.'' While Buffet bought entire companies at times when no one else would touch them; I am buying the stocks of the leaders in this sector at a time when virtually no one else is buying them.... Trust me - I get it.... I am blowing off some steam; but do not confuse my tirades with not sticking to my guns here. I am utterly dumbfounded as to why there are virtually no buyers here - none... My frustration is that the single most conservative, historically proven and risk free investment is buying profitable stocks at peaks of dis-favor and bad news. The key here is these stocks are priced as if the were loosing millons of $; Show me a sector with this degree of profitability, or RIGS degree of contracted earnings going 2 years out, the number of cash rich - debt free companies selling for ''chump change'' etc... I am angry - yes; because we have lost all perspective for any common sense in these markets. Value investing is such a small, little used tool - that this is the very reason it will ultimately prove to be so damn profitable. I would not in a million years recommend anyone to ever do what I am about to do - to dance with the devil... I made an allmost - insane trade in IO and did very, very well. I saw signs that today was coming - and am on the fence as to if we will see a big bounce/day trade opportunity in FGII FLC RIG etc. I think its 50/50 that we may get a huge bounce here, but I sense in my gut - that people are irrationally going to over react to this Russian joke - which doesn't impact our economy 1% - GE has a market cap larger than the entire Russian market - lets get real here... and people & funds will run to cash and bonds. This is however the exact reason - why I am actually going to do something virtually ''crazy'' here. I can pay 7-8-9.9 % interest on a lot of money for a couple of years if necessary - FGII at $12 or FLC at $10 1/2 will be my breakeven point on borowing these funds. I just sense a litteral once in a lifetime opportunity here. If I can leverage double my current portfolio at these prices today and I do have cash flows to easilly meet margin/loan interst & payments and can access cash for worst case scenario margin calls; which as I will only buy 3-4 stocks at this risk level - EVI RIG RON FGII maybe FLC; I just no longer see any major mathematical downside - even if there is- I can meet the call and the conservative upside now so dwarfs the downside, that I may never see this degree of risk vs. reward scenario ever again. The very reason I am making this bet (albeit a final one) is that we have reached insane levels - simply illogical; oil stabilizes, we have tremendous ''trigger factor''s looming which could instantaneously spike crude upward on a moments notice, we have companies earning money not losing money... and are at a historic bottom - not really the mathematical gamble that it appears to be ... The entire enigma is that we are are 2 opposite polarities of logic/mathematic-financial fundamentals and market sentiment/emotion. The negative sentiment/emotion has so dwarfed and depressed prices that one has to trust the mathematical/financial fundamentals... See you at the Waldorf Astoria or the homeless shelter - its gonna be one or the other for me... This is now ''my business'' - everything going on the line here; max leverage & buying on margin here - I know, just know that this is going to happen; we are at ''our darkest hour'' - I see no future scenario in which these stocks can have any more negative sentiment priced into them... Russian default, terrorism, Clinton Impeachment, Dow collapse, OPEC acting like the 3 Stooges and getting the same respect... Yes; I'll take this bet. Feast or famine......put it all on the block; spin that wheel;.... hit me baby ! - show me that last card !!!!!!!!!!!!! Sometimes a man has got to do what he has to do... Buying FGII FLC RIG today with limit buys set below todays low and will hold the final ''margin'' card to buy on any dips through friday... allthough I think we just may see some strong buying by the Institutions here... If not and we go lower - I'm buying.

To: Snowshoe who wrote (28443)	8/27/1998 12:21:00 PM
From: Don Westermeyer	Read Replies (1) \| Respond to of 95453

Using margin to make a major bet on a tiny sector like the OSX is NEVER fundamentally sound I'm not sure what you mean. Most of the companies in the OSX are actually very solid companies. I'm pretty sure that these companies will make more over the next ten years than some of the internut companies like AMZN. Still, I don't try to catch falling knives either - and never use much margin. It's saved me a ton of money recently.