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Pastimes : The Justa & Lars Honors Bob Brinker Investment Club
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To: Lars who wrote (5916)6/16/1999 1:58:00 AM
From: Carl R.  Read Replies (1) of 15132
 
Hey Ponzi schemes are good investments, too, if you get in at the front end, and aren't stupid enough to keep putting the money back in... <VVBG>

I tend to agree that you can buy a nut or two, but don't forget to take some money off the the table if it runs up for you, and don't put more into the "nuts" than you can afford to lose. And of course, never margin your "nuts"! And do keep in mind that probably 80% of these "nuts" will ultimately go broke or be forced to sell out when they run out of cash, so don't fall in love with them.

Also remember that in order to justify a 30% annual stock return on a stock currently holding a PSR of 100 the stock will have to double sales every year for about 8 years to get to a reasonable PSR. Thus choose carefully which ones you wish to hold.

Carl
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