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Subject:  5 Year "Cushion" Date:  4/11/2000  11:59 PM
Author:  jpolony Number:  3501 of 20640

Just a quick note to heartily endorse David Braze's
policy of keeping a 5 yr. cushion safe from the market's gyrations. As an investment professional the
most important qualification any prospective client
brings to me is a "yes" answer when I posit "This investment selection will not be touched for at least
five years, regardless of the market's ups & downs?"
Despite all the hype of daytrading, or taking short-term profits from the huge run-ups (till recently) in
tech, I insist that my clients understand that they make 5 & 10 yr plans, or longer, prior to taking them on as clients. As a result, I take a great deal of satisfaction that I have never had a client sell ANY portion of their portfolio due to porformance anxiety,
nor "fire" me for that reason! I've been providing investment & insurance advice since 1977 and have no aversion to my clients loading their portfolios with
what some consider risky investments, as long as they understand, and can afford, the risk that particular
investment entails. I, and my clients, sleep very well at night, secure that any recent movements in the market will not have any major impact on our long range plans. After all, when you're away for a 3 wk
vacation without TV, radio, phone, market movements are the last thing you want to worry about!Jim Polony
P.S.---I'm a VERY heavy tech investor myself and I naturally don't like taking 35-40% "haircuts", but just
as hair grows back quite rapidly, so will the tech sector once the necessary medicine has been swallowed.

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