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To: Scott Overholser who wrote (28432)	4/28/1999 10:08:00 PM
From: Jon Koplik	Respond to of 152472

Re : Jesse Livermore killing himself - I heard (but have no way of knowing if this is correct) ... that after having played the 1929 crash brilliantly, he managed to "lose it all" years later (1940's, I guess). And, his last words were reportedly "My whole life has been a waste ..." Somewhat related thought -- I once read an article about Tom Baldwin (one of this generation's most successful pit traders (Chicago Board of Trade U.S. T-Bond futures)) (order clerks have a quick way of conveying (across the room) the concept of "Baldwin is doing such and such" (i.e. -- buying bond futures or selling bond futures) -- they run their hand across their head (as in "bald") and then give the hand signal for buy or sell)). (Note - Tom Baldwin is not even bald, either). Anyway (I don't even remember what part of my sentence I was up to) ... in this article about Tom Baldwin, it mentioned that some people were more or less snickering about the fact that Mr. Baldwin has consistently removed futures trading profits and put them in all sorts of mundane, boring, uncorrelated investments. My immediate reaction was "Gee, not only does this guy have a rare gift for pit trading, he is also smart enough not to have his entire fortune riding on just the pit trading." It is incredible that anyone would ridicule his sound business decisions. Jon.