More from Clearstation - I was asked to post this here.
clearstation.com
I was wondering if you would be kind enough to do me a favor. Please post this
message, or at least what follows, over on that board as a cut and paste. I do not
have posting privileges over on SI, but I read every post there over the course
of the week. It is both informative and entertaining. I have been very long AMD
since the November announcement at around 26 and been adding all the way up.
I now do something that seems perverse in this market - I sell puts short every
expiry. The result has been I have nearly lowered my effective costs of the
original purchases to to zero as they have always expired worthless. I would be
perfectly willing to take delivery of the shares if the stock pulled back, but it
doesn't so I just keep pocketing the premiums. This adds up quickly and is like
getting a giant dividend every month during this "re-evaluation phase." I doubt
this strategy would have worked on any other stock in this market.
Anyway, I wanted to express a sincere heartfelt thanks to the regulars over
there: tejek, niceguy, steve harris, chic hearne, pgerassi, mani, kash, goutama,
eplace, ptanner, Charles, Jozef, cirruslvr, brushwad, hmaly, dan3 and many
others too numerous to name (please don't be offended if I left you off). You
have all, at one time or another, shortened the research work i have done on this
stock and provided timely, useful information on a daily basis, along with some
good cheer. Thank you, thank you, thank you.
Also, I would hope someone who knows Paul Engel might forward this to him.
ALthough the decision to invest in AMD was made by me, it was his incessant
bashing on the board that motivated me to dig deeper - to substantially increase
my positions and to aggressively start selling puts. I already have done well
from years of investing, but the additional seven figures earned from this gem
were severely aided by his excessive protests, which served to embolden me to
prove his ne'er do well ass wrong! God bless him! Who else does he hate?
Thanks Tim. Best of luck to you. |
