No. of Recommendations: 3
Howard,

You criticize me for looking at only the last 8 months (a rather forgettable 8 months, even with the rise) and then you look at mid-99 (near an all-time peak) and use that conspicuous data (and logic you just criticized) to support your own argument. (And your argument is what? That stocks fell in 2000, and when they did, shorts did well. Naturally.)

This doesn't change the fact that most money managers lose to the market every year and over history -- short funds included. That was my argument. If you want to take on that argument, you have quite the task ahead of you. You'll need to spin almost as good as the industry does.

Jeff
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