Aus, also added to my position today - at higher price than what you paid. Since I believe the stock is already overpriced on financial ratios, and that future earnings will be excellent as 'everybody' already expects, my only hope is that bigger fools will come in at higher prices from my price. Today I'm the bigger fool though -g-.
My point with Iomega, is that people who only invest in one stock, who know that stock/business/industry very, very well, can get really hurt. I'm not saying SNDK has any specific business parallels to IOM. Nor am I in hindsight criticizing the IOM stockholders for making a poor choice(or just sniffing that well, SNDK has patent lockups and is a 'disruptive' technology so it's a different story from IOM). My whine is about people who buy just one stock and believe that that is rational investing. The guy who bought AOL and did exceptionally well because he had an MBA and believed he could rationally analyze AOL. Well, what happened to studying investment principles at school - like portfolio management and diversification? It's one thing to be a kiddie "investor" - person age 28 with 20K to invest - trying to MAX it, trying to shoot for the moon, strike it rich. Quite another thing to manage investments as a long term process where those who have gone before have indicated a path (like maintain diversification among asset classes, don't get overextended, don't fall in love with a particular stock, etc. etc).
Paul |
