re: lousy stock picks. I say I pick more winning stocks than anybody else on SI, let alone on the value thread.
In any case, I wanted to say that (even if it's not true) before I also talk about the other side of that coin -g- .
The side of the coin where I may actually be right, i.e., I may very well have the record for number of companies held while they spun down into bankruptcy.
Let's see: there's FTL (Fruit of the Loom), RACCE.OB
(Reliance Acceptance Corp), Penn Financial (unk. symbol) - these are the past couple of years' negative 10baggers and negative 100baggers-- there're more which I which I can't remember. Plus there are big losers for me that look like they are imminent BK candidates - TCMS (Transcoastal Marine), GHV (Genesis Health), UNMG (Unimark Gp). And of course, there would be those yet-to-be- determined losers that are going down and down (into bankruptcy) where their situation just isn't apparent yet to investors. I'm likely into at least a couple of those situations too.
As I am telling myself I play a statistical game, my expectation (er, hope) is that the gains from the winners outweigh the losses from the losers. Sometimes that happens. Although in getting there the psychological pain from the losers is far greater than the pleasure from any winners.
Paul |
