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Politics : High Tolerance Plasticity

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To: cnyndwllr who wrote (681)	3/1/2001 12:23:23 PM
From: William JH	Read Replies (1) of 23153

Hi Ed. FWIW, I learned a valuable lesson from the price action of XTO over the last 3 years. Back when it was in low single digits (pre-split), the CEO said in public that fair value for the company was $24-28. I remember thinking, "It can't possible go that high." (I was hoping for $12 to get a double). Of course, it did go that high and then some. Because of this, I'm not tempted to look at fallen angels and think, "They can't possible go any lower." People who are averaging down in this environment are taking the chance of getting seriously broke. I hate being bearish, but now that I have a little capital I'm interested in (trying to) keep it. Gettin' too old I guess -g- Regards,

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