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To: jimleon who wrote (66095)	9/18/1998 1:13:00 PM
From: Chuzzlewit	Read Replies (2) \| Respond to of 176387

Good morning Jim, OT Here is my tentative thinking. Each participant will be given $100,000 in play money to invest as he chooses. All "trades" must be booked the night before. The trades will either be limit orders or buy on the open. There will be a $15 brokerage fee. No shorting, no options, no margin. US capital gains rates will apply, and will be assessed at the time a trade is executed, but there will be no loss carry forward (e.g, if you suffer a $100,000 loss on the first trade you will immediately receive a $28,000 refund -- similarly if you sell a position with a $100,000 gain you will pay $28,000 in taxes). I will post the standings weekly. An investment challenge thread is the way to go -- that avoids further clutter on this thread. It might be interesting to expand the challenge to include value investors. If you or others have any other suggestions for the ground rules, including the length of the challenge, please let me know. TTFN, CTC