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Breaking News Team: Absolutely it's best to give up one's purse (or, I guess, in Chico's case, wallet or briefcase), preferably by throwing it as far away from you as possible, then run like the wind away from the "perp" while he's running to catch up with the loot.
Reminds me of the story of the mother (an older woman) of a friend of ours who'd left her house, locked the door, turned around to find a couple of hoodlums trying to take her purse. Instead, she began yelling at them and hitting them with the purse, repeatedly, until they just ran off. She was a little shaken, but she was determined that those little jerks were not going to get her purse. She'd lived in Germany during WWII, had not had an easy life, and was not one to be messed with.
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