Ken, your doom and gloom predictions are becoming tiresome. Just because you correctly gauged investor sentiment six months ago and have managed to steer clear of the tech wreck, what makes you think that your past performance is any guarantee of future success? I would claim that you haven't shown any ability to value stocks or predict the state of the economy, you merely guessed correctly what the unwashed masses were going to think. While this is an asset for politicians, it can be a serious liability for true investors.
The thing is, Ken, you can do what you like. I personally think this is a buying opportunity, and am doing so. I don't care if the market drops so that every share is 1 penny, I will continue to buy. Because now we've entered the domain of 'irrational pessimism': by the inverse of Alan Greenspan's definition, inflation adjusted we're now below where he called 'irrational exuberance' four years ago, and that doesn't take into account the compound growth that high tech stocks have shown in revenue and earnings.
The sky is falling, Ken, the sky is falling. Why don't you catch a piece? Or just continue to sit on your cash while I, and others like me, buy the stocks that others will kick themselves for being too scared to hold through this tumultuous time.
I hope you don't feel hurt, but I've wanted to say this for a long time now. There.
P. |
