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How do you calculate "net worth"? Can you spend unrealized net
gains....look at your margin statement. Are paper losses real? I rest
my case.
>>> r.raffurty@xxxxxxxx 08/01/02 11:07AM >>>
Wrong, wrong, wrong, wrong, wrong, wrong, wrong, wrong, wrong, wrong,
wrong, wrong, wrong, wrong, wrong, wrong, wrong, wrong, wrong, wrong,
wrong, wrong, wrong, wrong, wrong. If you believe this, STOP
INVESTING/TRADING NOW. You are in great danger.
You are only "wealthy" on paper. You have NO wealth until you take
profits. A bank will gladly loan you money on 50% of your paper wealth,
then sell 100% of the position (or whatever % is required to make THEM
nor you whole if the stock drops below 40%) at any cost to you.
Good luck (you'll need it) and good trading.
Ray Raffurty
----- Original Message -----
From: Steve Walker
To: realtraders@xxxxxxxxxxxxxxx
Sent: Thursday, August 01, 2002 11:34 AM
Subject: Re: [RT] bear market stats
Wealth does disappear to the extent the market moves higher after
the
purchase and then retreats.
>>> r.raffurty@xxxxxxxx 08/01/02 10:30AM >>>
Recently the Democrats have been harping on the 7.7 trillion loss in
market cap. This shows a total lack of understanding on how markets
work.
If a person is stupid enough to by stock in Dr. Coop.com (fill in
your
favorite dead stock) at $80 they deserve to drive a Dodge Omni with
100,000 miles (they probably paid 2995.00 for that too).
The point is that the 7.7 trillion dollars did not disappear, it
just
changed hands. The uninformed and greedy sucker ALWAYS gets clipped.
CNBC just ran a report about a couple that lost 75% of their account
in
JDSU. Their kid wants to go to Duke University, so they are moving,
riding the subway, etc. He was man enough to admit it was his
fault,
but fell short of admitting it was GREED, pure and simple, that made
him
buy an over priced stock and IGNORANCE that prevented him from
protecting his position with options or even stops. The person(s)
who
sold him JDSU at the top are driving the Porsche because they
recognized
that the market could not go parabolic for long.
If there is a case of fraud, a stock holder would have a legitimate
complaint and new laws may address some of this by returning ill
gotten
grains to investors (if the feds can find the assets). However in
most
cases this is not applicable. The vast majority of losses are caused
by
GREED coupled with IGNORANCE. Now the great masses are crying to
their
congress man "They never told me I could lose".
Good luck and good trading,
Ray Raffurty
----- Original Message -----
From: SLAWEKP@xxxxxxx
To: REALTRADERS@xxxxxxxxxxxxxxx
Sent: Thursday, August 01, 2002 6:03 AM
Subject: [RT] bear market stats
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