Guess I'm getting cranky, Check. I'll tell you why although it has little to do with ELH.
I know a number of younger people who are being crucified. Homes are in jeopardy. They are friends of my kids - married with young families - who believed what they were hearing about technology, the new economy, and new ways of doing business and valuing a business, etc.
For the most part they are well educated, successful people. Other well educated people gave them advice and they believed. Why shouldn't they. The advice was coming from people who "knew." Some followed this advice and borrowed to invest. It made perfect sense. Who was I to question but I did... and very loudly.
Fortunately my kids have avoided difficulty. Not so all their friends and the stories are becoming alarming. Indirectly, it affects ELH shares - not because they ever owned any - but because they won't have anything to invest in them or anything else for a very long time.
Stuff in the ground never did interest these people. Neither did "old economy" business and down to earth P/E ratios. It was new economy business that interested them and why not. Experts who "knew" said that's where it was at, the future, and old econometrics were dead. Talk about pure, unadulterated bullchit. Oh boy!!
As I said, Check, nothing to do with ELH but it rankles. Makes me realize I should continually rethink positions and ask questions... follow my own advice and take nothing for granted. Having done so, I believe ELH will pay. Consequently, I remain invested and continue to add. Only the mix of players changes. Underlying values remain solid, upside potential solid.
Anyway, no more spelling it out. I'll check the 10K... LOL.
Nighty night...
Bob |
