Sonny,
Yes, I'm an old Fidelity hand. Have been with them since the late 70's. They have been very reliable. Sometimes not the most cutting edge but never far behind. I'm going to sign up for wireless trading with them in April. They are offering free RIM pagers through 17 April. Then you just pay $40/month or so to Bell South for the service. Stock quotes, alerts, trading, email and so forth from anywhere. I will not mind going shopping anymore. I'll find a nice chair and keep up with market <ggg>.
Ref GS, there are those that call them them Goldman Sucks <ggg>. Create a sell off, drive off the weak hands and load up while laughing.
CNBC, is just a tool to be manipulated. GE, a great trading stock. It has been a nice option player for me. It will do well, bottom line acceleration in earnings will ramp up 20% due to E-commerce initiatives in my opinion. Of course, several of us on line types noted that about GE prior to the start of this year. Funny how the experts continue to drag their tails stumbling along after the wave breaks like drunken sailors <ggg>. I do think GE will execute and deliver with fewer problems than IBM or Walmart.
I still laugh when I think about Lou Gerstner and his Internet firefly speech last year. Those pesky Inet companies are doing a good job of disrupting big blue so far.
Still I am consistently amused by the lack of rigor in their analysis. Most is broad brush. The goal has always been to determine which inets would be the survivors. For people that did not believe in the internet from the get go, to go on TV now and yack about over valuation and a shake out is sickening. From an early date it was evident that the Fab 5: CMGI, YHOO, EBAY, AOL, AMZN were the creme. Other more focused plays like DCLK and RNWK and a few others also looked pretty good. The bottom line being if investors simply brought a wide swath of inet stocks back in '97 and sold off the losers and put the money into the winners then the returns have been so large that their words and analysis ring like the hollow protestations of jealousy. This is why I say, many of us are sitting on a couple of decades worth of profit. None of us wants to see our stocks go down but we can hedge, we can sell or whatever. The bottom line is we have absolutely crushed the puny returns of the pundits. They are not professionals. They are liars that have cheated their investors of potential profits by sitting on their 4th point of contact while one of the greatest waves of innovation and wealth creation rolled along.
B2B is the same to me. Buy a wide swath and prune the losers over time. In 2002 they will yack about the B2B shakeout.
Regards and happy trading, |
