Qualcomm Incorporated (QCOM) Message Board

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Technology Stocks : Qualcomm Incorporated (QCOM)

QCOM 181.30

-0.5%

3:59 PM EST

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To: Randall Knight who wrote (60996)	1/9/2000 5:03:00 PM
From: waverider	Read Replies (1) of 152472

Randall...that was an interesting post. To be honest with you, I get the creeps whenever people ask those kinds of questions...and it happens to me all the time too. For the most part they have ZERO understanding of what the market is all about and all they really know is what they hear from talking heads on the 6 o'clock news. Lets see: -A lot of these people got their clocks cleaned when they got all goose bumpy and bought during those highs the two days we had after the split. They are still underwater and frankly it is the best thing that could have happened to them. -My nephew thought he was immortal because he bought some Q a year ago after I finally convinced him it was a great company and that it would be a good way to start a savings program. It was his FIRST purchase in the market. So he decided to buy more around $700 because GREED took over. You should have seen his face when I told him I cut back on my position about the same time. -When QCOM hit $700 the carpenter that helped me build my home ask me if he should put in $1000 into QCOM? He has basically a zero balance in his checking account and makes about $40,000 a year...has 2 kids...and...well, never mind. This is all quite worrisome to me. Like some of you (and not enough unfortunately) I have busted my ass over the last 10 years learning about the market. As many have mentioned here before, we have our "I almost lost everything" stories, but came back by shear will and determination to learn from our mistakes. A lot of these people asking for our advice have NOT been to war before and do NOT know what it is like to see their intestines all over the floor. I for one do NOT want to help them achieve that vision. Oh sure, they'll say they can withstand 10-30% drops...but we all know reality is a lot different from our dreams. The basic message I am trying to get across is take care with this new status some of our friends and neighbors want to give us. I know it feels good to have people ask for our advice, but CONSIDER the repercussions. It may feel cool for our egos now but... Gurus are best when they are mad of stone (one of Dylan's songs about the stock market, right?). The ONLY people I recommend stocks to are the ones who have trusted me enough to manage their money directly. I have their accounts on my computer and I push the buy and sell buttons. Everyone else can lose their asses on their own time thank you...because that is the position I always take...THE MARKET TAKES A LOT FASTER THAN IT GIVES. Hang Ten Dudes Rick

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