Thanks OM!

Mock. Check your Inbox. Night all!

Yeah, I liked the original version too!

OM, your editing is driving me crazy ...

Last edited on: 08-10-2007 01:41 am

OM: I prefer your non NC-17 version.

What you're going to be witnessing is liquidation of large long and short positions in
unison. There will be squeezes in both directions as funds unwind. Sell the long and short
squeezes and get into cash, and then stay there and/or short the subsequent selloffs.

Last edited on: 08-10-2007 01:38 am

Just be glad stocks are falling quickly. If it was a slow grind to the bottom, that would
be real trouble.
If you get caught in a correction, just hang on, with eyes closed, if necessary.

"Reminiscenceces of a Stock operator by, Edwin Lefevre"

I heard several different investors (Bill Gross, Jim Cramer, etc...) say that that is the
greatest investor book of all time. Enjoy.

Hark, Mock has laid it all out. It's all about leverage. But leverage to subprime is
only part of the problem. Leverage to other currencies (carry trade) can be incredibly
lucrative, or can be equally devastating when the trade goes wrong.

The single most important thing that anyone can learn from this mess is that there are two
sides to every trade. When you are contemplating a trade, you must understand the other
side of the trade. Before you buy, as a mental exercise, place yourself in the trade as
the seller, and vice versa. Understand teh risks that the other side of the trade is
trying to avoid. Those are the risks you would be assuming.

If you try and live 1 day at a time in markets like these, it'll drive you crazy (in my
worthless opinion). Just take a longer outlook, and you won't stress so much every day.
Your long-term performance will also likely be better...

Mock. I will read your book. I am reading Reminiscenceces of a Stock operator by, Edwin
Lefevre. I also play dumb.