I never blew up any trading accounts. XXX did not lose any trading
accounts in April 2003 or in the several months thereafter. I did have a
few trading losses that April that were in the single digit percentage
range in the account that I was responsible for trading. Performance for
that account was much better than the S&P 500 over the period I was
responsible for it. The account traded mostly long-only equities
strategies. At no point was this account down more than 15% while I was
responsible for trading it (slightly more than a year). During that same
period, the market dropped more than 30%.

The truth was that at about that time, I decided that we needed more
infrastructre in order to trade at the level of excellence I desired. I
am not broke - I have had several periods in the last several years
where I was very, very low on cash, but that's not the same thing as
being broke. Even if I had been broke, I'm not sure it matters as I'm
selling software, not advice on how not to ever go broke.

Curtis Faith
Thu Aug 19, 2004 7:17 am