Rockwell-Spins off Conexant (CNXT) Message Board

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Technology Stocks : Rockwell-Spins off Conexant (CNXT)

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To: Ed McCloskey who wrote (1651)	10/5/2000 11:39:40 AM
From: David W. Taylor	Read Replies (2) of 2013

No, I don't hate my brother in law. Far from it. Here's the real story. See if you recognize anyone. He told me breathlessly at the end of last year that he had found this neat stock and that he was sure that it was going to at least quadruple in short order. I argued with him that it could not do so on fundamentals and strongly advised him to reconsider his almost 100% weighting in this one, very ordinary stock. He laughed and told me that I was nuts. To see, if I could help him get some perspective, I came to SI to look for the CNXT board to get some more balance opinions. To my complete amazement, almost the entire population of the board sounded EXACTLY like him. His basis is around $30 and he is very strongly opposed to "pay any taxes to those B&&(()s." and so he espouses a buy and hold strategy. Trying to explain that paying taxes is a good thing from all points of view was like throwing seeds on desert ground. In effect almost his entire net worth has been held hostage to bad judgement for an entire year. His potential gains are virtually none and his capital is at risk of moving rapidly towards zero. He is cranky and unhappy that his "research" has not paid off and really annoyed that his quadruple has not materialized. He "earned" it after all. As far as I can tell, he is the victim of the same delusions of instant, easy wealth as most of this board. His hopes and dreams will crash along with his portfolio and he has nobody to blame but himself.

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