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To: arthur pritchard who wrote (89823)	1/18/1999 11:53:00 PM
From: Chuzzlewit	Read Replies (3) \| Respond to of 176387

Arthur, leaps are not equities, so I wouldn't categorize them as part of a buy and hold strategy. I also think that it is insane to put your entire portfolio in a single stock. Things happen, and these things are unpredictable. In finance, this risk is called diversifiable risk, and it is just plain foolish to invest knowing that that risk is hanging over your head with no compensation for it. A portfolio of 12 - 15 stocks is a reasonable compromise, because you can assume lots of market risk without taking on the unnecessary baggage of diversifiable risk. Arthur, I respectfully suggest that you get ahold of a good general textbook on finance, and read the sections on risk and covariance (not a popular investment book). I like risk, but I want to be compensated for that risk. When you put everything on one stock there is no compensation for the added risk. If you want some suggestions, PM me and I will be happy to send you a list of some things you might want to read. Good luck! TTFN, CTC