I remember, because I remember shaking my head when I read his statement. I think it was around late spring to early summer,1999. I shaked my head, because the statement represents the epitomy of equity mania, especially coming from one whom I respect,. Same statement from most of SI posters will not even catch my attention. I too "like women, especially smart women", (adoration is a more accurate description). But I would not have bought iVillage based on that.
August,
I suppose at some other time I could go back and locate the post. I am not here to defend William. He is very capable. I never took a position in IVilage maybe because my focus was elsewhere.
William certainly is more bullish in the "new economy" than most. Maybe he is the epitomy of equity mania. William and I do not agree on the prospects of a lot of stocks but that is likely true with every poster on SI from my point of view. That does not mean I believe I know more than others. I do try and make my own decisions.
The point remains there is not a one of of use that picks every stock perfectly. Maybe the reason is all of us have some flawed logic at times.
I suppose the real answer is to cut losses when one has made an error. That is something I do not do as well as I should.
The advantage of a good thread is being able to read a variety of different opinions and then to make a decision for oneself.
We could find good picks frem every participant here. Interestingly enough, Williams top pick was MU for the year 2000 and I took a position based on that and other research. Funny thing (usualy for me) is I sold way too soon. William never really took the position as far as I know or if he did, he sold it in early January.
My only point is that some here see fundamentals in stocks that others miss. Think of the people that held QCOM for all those years prior to it doing well. I may be incorrect but Willliam did not own QCOM.
To this day, I believe the fundamentals of Amazon are terrible but the maket has never agreed.
Clearly, I in general am not as bullish as William but not as bearish as KIS or GST. I respect GST a lot not to mention Ike, Danny, Olu, Rob, etc.
So let's say William's thinking was off trac k or proven incorrect on IVilliage. In the large picture, what does that mean?
I learned many things from this thread. I learned not to fight the tape regardless of my fundamental analysis. I learned to try and look at the potential of stocks that are not yet making money. I learned to stick wity my beliefs regarding fundamentals but not to short a stock during a what appeared to be a mania market.
I just do not want this thread to degenerate into a contest as to who is or is not the best stock picker.
Am I wrong in my desire for the way I believe the ongoing of this thread would benefit everyone involved the most?
Please let me know.
Thank you.
Glenn |
