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Strategies & Market Trends : A.I.M Users Group Bulletin Board -- Ignore unavailable to you. Want to Upgrade?

To: OldAIMGuy who wrote (5791)	10/8/1998 4:11:00 PM
From: JZGalt	Read Replies (1) \| Respond to of 18928

Fully 36% of my current portfolio is still capital gains. I have the same "problem". I hate the current levels, unwilling to go further on margin at this time, but have done little to stem the losses ala buying puts to maintain positions. Some of this is dumb, some of this is being stubborn, but all of it was wrong in hindsight. Still all in all, I'm down about 34% from the peak in May. Now even if I had done what I had thought of and pulled the trigger and sold everything in mid July, I'd be ahead after taxes and that is the first time that would have happened since 1987. I only bought two things in the current debacle. First was a stock with a tangible book value of $14 selling for $8, now selling for $4.50 and the second was a chip stock selling for $10 down from $46, which touched $6 5/8th's today with $4 in cash and growing at least 20%/year (Yahoo! projects 38%, but I'm shaving the numbers). Th amazing thing is in the past two weeks I've seen depressed stocks which were down more than 50% get cut in half yet another time. I'm not talking about fly by night companies with little or no sales. I'm talking about leaders in their respective niche industries. One point you make is that it is the recovery that counts. I'd be really careful about some of the non-conservative issues right now as far as survivability. Some of these companies are going to get taken under vs. taken over before this is done. ---- Dave PS, rather amazing recovery today.