David,
You say that you are not fooling yourself in the owning of tech
and internet stocks that have taken a life of their own thru the
control of a mob of mindless investors in a maniac state.
But heed how Rarebird has described what you are activity
engaged in, that of a high tech gambling casino rather than
the type of investing characteristic of a Warren Buffet where
knowing the company's ability to supply a value in exchange
for a return in payment under supply & demand economics
determines an expected return for your investment.
Now, <<high tech gambling casino>> is like a poker game
or musical chairs or blind mans bluff where the outcome of
the investment is determined mostly by the wishes and hopes
and dreams and "I want this outcome to happen". The trap is
the same one present in all gambling events, the house will
take your money until you only have enough for taxie fare home,
but before you leave you will know that you have the opportunity
to reenter the game and capture and reclaim what you thought
was easy money to make, but turned into a lost. No more investing
time, now its pure gambling time, and you stay in the game until
you lost it all, is possible.
Happens every day, and most all that it happens to entered with a
<<but I'm not fooling myself. This is a mania.>>
<<The mauling is far from over IMO.
The Bear likes to deceive and suck in more money
for the next feeding. Rarebird>>
Now that the most gullible ones have toasted margin calls
with a thick layer of sour grapes jelly on top, now the ones
who got out in time see themselves as smarter and quicker
and reentered the game of musical chairs. Each time the
music stops some will be without a chair, by chance now
as the "dumb & dumber" ones have been weeded out,
now only the best of the best remain.
<<Be careful.>>
Ofcourse this post is not directed specially towards you,
but a general to "who it may concern".
Doug |
