<< always hear you rip the stock, but I am not sure I have ever heard you say why? >>
Simple, Prugay. Valuation. I do not believe that you have any evidence of my ever having ripped the company, only the price of the stock and those posters who find every excuse, every rationalization, to justify holding at each new low.
I have nothing against the company or its management. It has, demonstrably, been very successful at what it does. And as I have commented before, I believe that from some level, it may be a good investment for patient shareholders, returning perhaps 20-30% per year.
When a stock doubles in 2 months, doubles again in the next 2 months, and doubles again in the next 2 months, some folks get kinda disappointed when it gives back half or more of those gains. Only after the cult of unreasonable expectations is finally totally shattered and fear replaces greed does the stock then become a reasonable investment again.
AOL is undergoing this process now. It may take another 6 to 12 months to complete it.
BP |
