Hi HighHopes and Mact, my pals are having a furious cyber and real world debate on the extent, duration and response to the crisis of our own creation. Immediate outlook divergence is greatest amongst the extremists. I have not been helpful in this debate, as my stand on position is most fluid (Jay is simply moving, and my portfolio position moves with me) and moves along the entire distance of extremism. I am excusing my motion on real time process of ever-newer information.
My high leisure time bond-trading (US originated survivor of Asian Financial Crisis on the front lines) pal is trying to day-trade his way back to health. Dangerous activity, especially when done at HK night time, and not really good for health. I do not want to take this course of response as I am not good on day-trading and like my sleep. He is thankful to me for having talked him out of switching to a dot.com job. He will be going to Bali as it is better to eat, sleep and play off ones money than to simply lose it.
My public equity fund manager pal is holding to ?buy, because technology is great, money will be made, baby boomers will invest and all will be fine?. I really hope he is right, and if he is, I promise to be a good boy for the rest of the year. I also promise to be more careful the next time around, selling in Dec/Jan and waiting for Mar/Aug, and not be tempted back in by Feb ? metaphorically speaking. However, I can not take this course of response unless CSCO valuation falls to 20 times earnings, as we may be playing for keeps. My pal is busy raising money for a new fund.
My smart Hawaii-based friend thinks a careful and selective buying strategy is called for, limited to adding to existing 10 stock positions. I will go with this course of action, but maybe at different speed, but probably on the same shares plus a bit more (I like to read annual reports and news releases).
My wife?s response is ?how much did we lose?? ?perhaps all the dog and cat Venture Capitalists will be put into more labor intensive jobs? ?where are we going for Easter??
My wife is a happy person and almost never read the newspaper or watch TV news. Well, she can do that because I do. |
