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

To: Tommaso who wrote (364)	10/6/1998 6:14:00 PM
From: Tommaso	Read Replies (1) \| Respond to of 793

OK --it's up to 8.60, another 19 cents or 2.21% The nice thing is that the higher it gets the bigger the percentage gain is over its lower points (if you bought at $6 it's a better than 3% gain on the day). I guess the total possible BEARX gain may be some low multiple of a total market decline. At this point, the gain is roughly double the decline since the peak of the market, so a 50% bear market might mean a 100% gain on BEARX. This is not all that spectacular when you look at people who have increased their capital 700% since 1982, but for a period of a year or so it would be awfully good. I think I'll get out sooner and just sit on cash waiting for what looks like good values on the long side. That's enough counting of unhatched chickens for the moment.