Andy and Scott, Have read your comments about me with great interest...
Certainly, this whole episode with the PRST "experiance" has been an interesting study in human nature and the reaction of people in general to large gains and losses. I have learned a lot about myself and many others through this "experiance." One certain lesson to me was to be more aware of others feelings in regards to taunting those that experianced losses short or long, especially if their opinions differed from mine. With all the negative feedback I have seen directed toward my opinions over the past few days, I can honestly say that I never personally attacked the integrity or truthfulness of any one individual. I am NOT concerned about what others think about me personally, nor does it concern me that you dissaprove of my investment style, opinions and stock selection. Opinions differ, and thats OK. It was mentioned that I don't care about profitability. Wrong. I do care. Have been very profitalbe over the years by investing for the long term. Take PRST for example...had I or anyone that held this stock known the short pressure could instigate a 76% correction off the high, we alI would have sold PRST in a heartbeat and bought back four times the shares at the lows. However, I learned long ago to have written long term financial goals and know everything I could learn about a stock before I buy. Knowing the story and exactly why I own each stock investment, has prevented me from bailing out and looking back up as the stock would have then rebounded without me. It is because I have been so profitable in the past, (business and investment) that I am wealthy today at age 43. I have aggressivly invested half of my earnings for many years. Not being a short term investor, corrections (sometimes severe) have not affected me at all financially. They always have eventually come back. I presently own stock in 18 companies (5 are touted by Cabot) and have followed Cabot recommendations for years. My investment style is the purchase of momentum stocks that have clear, solid FUTURE revenue projection. I do not care to BUY stocks that are trading at low PE, those that are currently recognized as being "worth it" at present values, or stocks that I cannot obtain information and research on. Stocks I presently own were purchased shortly after IPO or were unknown on the street or out of favor to investors with no known justification. Cabot Market Letter is designed for the investment style that is similar to mine. They attempt to recognize the future upcoming stocks that may hold great potential and produce high future earnings before they become recognized by the normal investor. These stocks are subject to extream volitility in their growth stage. It is expected and accepted by me. My present stock holdings include PRST, ASND, IOMG, USRX, PTLX, RESI, NOBH, EFII, and ZOLT. All have corrected abd bounced back. Due to a 20% margin and the drop of value my Cabot holdings last week, I sold most of my ASND stock and all of MRVC positions to allow further average down purchases of PRST and cover the margin. I delivered another 50K to broker last week to also cover a marigin call. Not that any of this matters to you or anyone else, It is not amusing to find that some individuals that have read my postings, purchased PRST at much higher prices and then sold at a loss. My convictions are that I have never researched a company with more future potential than PRST. It is the largest position I have. No matter what the negative hype, it does not change the positive future earnings potential that I believe will occure with this company. If positive hype is what my convictions and opinions are, then so be it. If it convinces one person to research this stock and company as I have done, then they would be buying the stock today, last month, or the month before and they would still own it or if they had sold would be buying it back. If there is a gamble in the market, it is attempting to buy a stock without mental stops and an established goal. If the goal is long term, then the immediate price means nothing. Short term investors would think that approach to investing is idiocy. It has made me a lot of money, so I assure you, it works. Unless my original reason for buying a stock changes, I do not attempt to read the most recent trend, nor do I sell in a panic drop. I have never bought a stock until CONVINCED that I'm after a true winner LONG TERM. Certainly, like any normal person, I have been "known" to become excited about a certain stock I own that had increased one hundred fold since IPO at $2. I presently own 6400 shares of PRST. My last buy of 400 additional, was today at 48. My average cost basis is now at 68. So, many state it is impossible for me to have the assets to own so much.....Well, your wrong, I have built my own successful financial services franchise for over 10 years, personally training over 50 key individuals that work with me. Like a real estate broker, I receive a share of all business transacted by those I overide. Since a child, I have always been fascinated by the stock market. Prior to my present career, I drove a snow plow for a county road commission for 13 years. It was during this time, I was coached by an eccentric millionaire, who also accumulated his fortune via the market, having the ability to recognize and purchase winners. I made a career change to financial services, from the road commission in 1986. I became NASD licensed in securities, investments, and insurance and rapidly rose to an ownership position with my own business, through Primerica Financial Services, a division of Travelers Corp. As previously stated, personal opinions of me, stated by others, really do not concern me. This response to the negative comments directed at me, is only after receiving requests by other large PRST shareholders to provide those that place the personal attacks with some personal information. If it is so hard to believe that I would throw away 1.2M equity in PRSTstock (when valued at 200), then understand this, I really must actually believe in the PRST's technology, the research of Lutts, myself and others. How could that be? So many say the stock will never see 50 again, let alone surpass it's previous heights. Will it bounce back to the high levels we saw last month anytime soon? Nope, It will now grow based on positive earnings news, future recognition of it's technology, new agreements with other press manufacturors, and contunued plate sales. Just understand, I am not an amature investor. I created a 7 digit estate way before PRSTcame along by not upgrading my standard of living as my income increased substantially and by paying my family first, by investing rather than spending. My children and their ancestors will live very comfortably. How about yours? What some of you never realized is that the price of PRST stock now, SHORT TERM....means nothing....the same way it meant nothing when it was at 200. As long as the true story of PRST remains out of the media, the fundamentals don't change, and PRST keeps making plates the stock is a bargain at these prices. Many do not share my views. Everyone does not think alike and again that's OK....If they did. the stock would now be at 1000 or down to -0-. Ther will always be winners and losers, those that gloat and those that console. As far as I am concerned, with all the negative postings and the negative media news, I have heard absolutly no real facts from any source that disputes the future potential for high earnings by PRST. Nothing I can find has made me lean to selling any of my PRST stock. Obviously one should pay more attention to the power of the short position, It would have been decent to know last month that the stock would be again available in the 40s. It is apparent that more than just the short position is now buying the stock. It is the opinion of many short term buyers that the company must be a loser etc. Well, I would hope those that owned PRST yesterday did not follow the advice of some of the bears that urged selling at 43 because PRST today closed at 56 (+13) on 1.3M volume, with the largest trade, a 20,000 buy.
Good Luck,
Neil |
