The money lost by speculation alone is small compared with the gigantic sums lost by so-called investors who have let their investments ride."
and
"The recognition of our own mistakes should not benefit us any more than the study of our successes. But there is a natural tendency in all men to avoid punishment. When you associate certain mistakes with a licking, you do not hanker for the second dose, and, of
course all stock market mistakes wound you in two tender spots....your pocketbook and your vanity. But I will tell you something curious: A stock speculator sometimes makes mistakes and knows that he is making them. And after he makes them he will ask
himself why he made them; and, after thinking over it cold-bloodedly a long time after the pain and punishment is over he may learn how he came to make them, and when, and at what particular point of his trade, but not why. And then he simply calls himself names
and lets it go at that.
Of course, if a man is both wise and lucky, he will not make the same mistake twice. But he will make any one of the ten thousand brothers and cousins of the original. The MISTAKE family is so large that there is always one of them around when you want to see what you can do in the fool-play line."
Certainly, Monty. But even thought it was definetly a mistake to watch IOM drop from it's highs, it is certainly possible that Cisco is not in the same boat. People talking about the dot-com certainly would not in general be talking about Cisco.
Some of Cisco's biggest buyers of Cisco equipment are GE, Wall Mart, GD, IBM, etc. It is trying to get in the market (with some success) of selling to Sprint, Worldcomm, SBC, etc. It certainly seems to be a company on the rise.
Of course, the same can't be said of it's stock, at the moment. :) |
