Walt,
>>Before I heard the "pitch" I would have done some preliminary investigation, since there's not enough hours in the day to hear them all. The stock, for example, would have to match my investing style (a "value" manager wouldn't waste his or her time on Amati, for instance) and I would therefore have some "unbiased facts" already. Given this, I could buy the stock within a matter of minutes if I liked the "story". (Yes, "minutes"; I've seen it done many times -- often from the road.)>>
Walt. Do you realize how incredible this statement is??? There are a lot of good real-estate sales men out there selling swamp land. You are telling us that these fund managers do nothing to protect themselves and their investors. They do not do any footwork before they take the plunge. Incredible.
Since they don't look at the technical, what is their attitude, "win a few loose a few".while using other peoples money???
Can I assume that this is the reason that these types of funds have problems exceeding the averages year after year?
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>>Yep. If they had liked the story they would have started buying the stock by now. If they had started buying the stock it wouldn't have hit a new low. It did, ergo they didn't. (At least not through yesterday; today MAY have been a different story, but you'll have to ask the tapewatchers that.)>>
I'm sure Amati would have told them that the boat is held up in port until the shipments of chips arrive. If somebody told me this I would stall my investment. Why would not the fund managers do the same??? (Especially when the stock price continues to fall).
Are you telling me the fund managers make only buy "now" or "never" decisions?
Here we are in 1990's and it is very hard for me to believe things work this way.
With all due respect Walt. My parents always taught me to seek second opinions before making up your mind on things. Is there another person, with qualifications, who can substantiate what it is Walt is saying here?
-Eric |
