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Pastimes : Prudent Bear Fund (BEARX): contrarian investing -- Ignore unavailable to you. Want to Upgrade?

To: Peter V who wrote (334)	9/2/1998 8:10:00 PM
From: Tommaso	Respond to of 793

I hope it works out for you--short term as well as long term. I was in a panic late last year that I was going to miss the great bear market, and of course, look what happened! But at least we are back now to that point. I guess I did lose heart last May and June. I had some additional cash that could have been committed to BEARX but with about 25% of our net worth in it already I did begin to feel that I might have lost my mind. I think it's easier to be a contrarian at the bottom of bear markets than at the top of bull markets. When you buy stock at the bottom, or near it, you are getting high dividend returns that compensate you for waiting. Selling short has no such compensation. But I remain confident that the absurd overvaluation will correct itself and that BEARX holders will be winners.