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To: Lee who wrote (129664)	5/28/1999 4:19:00 PM
From: BGR	Respond to of 176387

Lee, Ed always insisted that put sales have to be backed by cash and you have to have faith in the company so that you are prepared to take delivery if the equity price drops. He is a great trader but I know that I personally do not have that discipline as I have said in this thread so I keep away from that line of business ... also I feel that brokers often shun their responsibilities in explaining risks to clients these days ... may be they don't know the risks themselves ... or may be nobody uses brokers any more (I still do) ... Thanks for the kind words. -BGR.