Reality Rears it's Ugly Head
by: Psychopop (48/M/Bradley Beach, NJ)
For months, I've been kicking myself for not buying some stock with no
revenue,no understandable way of ever showing a profit and selling for 100
times book value...........A comment from a fellow investor on the recent
turn of events, kinda sums it up!
Awhile ago, when I still had the website, some of you may recall a little
piece I wrote on the "new Economy vs. the Old".....well it turns out, as I
said then, THERE IS ONLY ONE ECONOMY.
After Wall Street's wild orgy of irrational investing and wild speculation
in the Tech sector, the Alice in Wonderland adventure of the herd on Wall
Street crashed and burned like the Hindenburg on Friday.
All of a sudden people are talking about VALUE.....p/e ratios,
earnings.......REAL stocks!......What a brilliant discovery!.......The
cathartic crash, has I hope put a permanent damper on the looney tunes who
have been in control of this market for far too long.......Personally,
after over a year of listening to 23 year CEO's of Internet and related
tech Co's spew forth their psychobabble, describing in excruciatingly
indecipherable lingo their Co's missions and objectives to people who
didn't have--and in most cases--still don't have the foggiest idea what
they were saying--(and in many cases, I dare say didn't have a clue
themselves)--the ugly bear of reality has sprung up and taken a giant bite
out of our !
What does the future hold?........Although a painful lesson, it should
portend a return to the fundamental values of investing/trading.....Gone,
I hope are the days of high flying "what the hell do they really do
Cos".......floating on a cushion of air by people with air in THEIR heads,
and too much greed in their hearts....gone too, I hope will be the herd of
day trading speculators, glued to their computer screens, like so many
slot machine players in a Casino...hoping to see 777 come up along with
their ticket to prosperity.........Perhaps now we can start to make some
sense of it all........Will there still be risk, yes....there's always
risk......but that's normal and healthy.
I own some stock in a NJ Co. (Foster Wheeler Corp.)--FWC--NYSE-----Do you
know what they do?......They build things, they construct things.....You
can walk up and TOUCH their product.....They have offices all over the
world......They have government contracts.....They have REAL tangible
ASSETS, with REAL growth potential!......I'm GLAD I have this
stock......I'm not rich from it, but I slept well last night.
The moral of the story?.........Beware of White rabbits, Cheshire cats,
Mad Hatters, and funny looking mushrooms.......oh, geez, it's almost time
for tea!...........Have a good weekend! |
