OT Disclosure
Having been chided in a PM for apparent bragging on the basis of some recent enthusiastic posts, I would like to put the following on the record:
1. I averaged in to Rambus over spring and summer at 101, sold out at 90 in September for a 10% loss. Missed the final plunge by accident, not prescience.
2. I bought a classic Shiny Pebble in July on a friend's tip, a small drug company with a product in the final stages of the last trial (AIMM). Bought in at 3 1/2, confident of a quick 6-bagger. A month later the trial results came out negative overnight, and by the time I got out at the next morning?s open it was down to 7/8.
3. The only real successes I have had have been with classic G&K plays and with a friend's newly-public company (where I was able to use my personal knowledge of management as a basis for a large bet, quite successful to date).
My current relatively orthodox G&K portfolio is the result of trial and lots of error, and the profits from it are still devoted to covering losses from previous mistakes. (If I ever get depressed, I just check out the performance of my former holdings--perfectly decent story stocks or value plays--and then I feel much better.) All I can say for myself as an investor is that I (think I) can learn from those mistakes, and figure out whose ideas to steal (this thread's).
Even there, however, some caution is in order, to assure newbies that sheer luck plays a huge part in our results. For example, after reading 6k+ posts, I bought both SEBL and CTXS some months ago at comparable prices in the mid-60s. The former is now almost 110, while the latter is still below water. Go figure.
tekboy@cha2makesmesick.com |
