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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: upanddown who wrote (35056)	11/2/1998 9:39:00 AM
From: Ilaine	Respond to of 132070

Hi John, point well taken, mea culpa. Maybe we should start a thread for people who like to hang out with Mike, but are perpetually off topic, could call it The Michael D. Burke Fan Club. Hey, this is REALLY off-topic, but too good to miss: check out today's Drudge Report: Clinton has herpes: drudgereport.com Don't forget to vote! CobaltBlue

To: upanddown who wrote (35056)	11/2/1998 10:52:00 AM
From: Mike M2	Respond to of 132070

John, good point. The debate is interesting but too lengthy. IMO this thread is one of the best on SI so let's try to preserve this thread and keep the off topic debates brief. Mike

To: upanddown who wrote (35056)	11/2/1998 11:25:00 AM
From: Knighty Tin	Respond to of 132070

John, The main reason for a separate cap gains portfolio is that there are many, many stocks I like that do not have options. Nearly every closed end fund does not have options. I only know of four. Most of the biotechs I like do not have options. Most ADRs, like Impala and DeBeers, do not have options. Also, there are stocks I like where the options are priced beyond what I consider good sense. Keane is one. I would rather own the stock at $26, where I bought it, than the Feb 30 calls at $4 1/4. I think an out of the money call priced at nearly 20 pct for 5 months is too dear a bet. In fact, I used the same stock in my income fund where I sold the calls against the stock and later bought the puts for a spread conversion. A stock like Ciena could have gone either way and I don't really know why I chose the stock, in retrospect. I have bought puts and calls on it in the past. Also, with low priced stocks, I just consider them options with very long (I hope -g-) expiration dates. Genzl, for example. Why mess with an option when the stock is $3? But, in general, if I can do it with options, I would rather do it with options. MB