I've never understood this.
I've read your posts, and you seem to be an intelligent and successful investor. Yet, you're selling the stock at 60, when it is out of favor. And you'll buy it back when "we get signals of some kind of earnings momentum again and real news about major carriers going with CDMA 3g". When that news comes out, what will the stock price be? 90? 150? I'm assuming you're not an insider, so someone else will get that news, and act on it, before you get a chance to buy back. I don't understand why so many investors follow a "sell low, buy high" strategy. If you intend on buying back (that is, if you think the long-term story is intact), then why sell now?
Congratulations on buying the stock in 1996. I looked at it in 1998, and couldn't convince myself that the technology was certain to be adopted. So I'm buying in now, at a price much higher than you purchased.
Will you be holding cash, while you wait for good news and earnings momentum on QCOM, or is the money going into opportunities you see elsewhere? TIA. |
