Manicures. When our friend Jane, who lives in San Jose, has her manicures by Sally the discussion often turns to stocks.  It seems Sally is a day-trader and had been doing alright.  Last summer Sally kept telling Jane about the stocks she was trading and, seemingly, making money hand over fist.  Sally was trading RIMM, ISRG, FSLR, BG and all the fast moving shares.  Jane would call me and ask why I wasn’t doing as well as Sally. I would be jealous, of course, but couldn’t really figure out how to duplicate Sally’s success.  Yesterday was Nail Day for Jane and she got an update from Sally.  Sally’s husband has left her after she admitted to him that she had lost $400,000 in the market.  Seems Sally was trading on margin and pyramided her account in the wrong direction.  Now, Sally has left the nail business for nursing school.