Agree. Abelson has been railing hard against the overall Bull Market since what... Dow 4,000? He is the epitome of investing ignorance, exhibiting complete denial of what the market's been saying for ten years... but certainly a talented and amusing editorialist! Although he's been DEAD WRONG for so long, and refuses to reconsider his assumptions, he must be very bright in some theoretical, "Bear-uns" sort of way.
Abelson has reserved his special, most zealous campaign of words and sarcasm for anything related to the net, especially the strongest leadership stocks: AMZN/YHOO/AOL. This is from a guy that, by his own words, understands little about the world of technology; and thinks that net stocks should be valued according to 40 year old arcane, theoretical models, versus today's actual, aggregate market activity.
If you take your trading advice from Abelson, then go short AMZN, AOL, YHOO all down to $8, where they belong based upon his fundamental analysis... you'll get the same results you would have gotten holding OEX PUTS all the way from Dow 4,000.
Good trading, - Steve |
