<<But for a value investor, such as you seem to be, just about every stock becomes a "bargain" now and again. It is the whole principle behind value investing. And how real wealth is preserved and built for LTBH.>>
I am amazed at how folks seem so comfortable owning csco stock in these times, when in fact the co's accounting and real liabilities are a maze of tangled gobbledegook that is really quite daunting to all those who are not experienced in public co accounting. If it is not daunting to a particular accounting lay person, well then, there is a leap of faith this person is taking in place of true understanding.
I sold my csco last Aug because I became convinced that they would never do better than 50% growth, and they had already been doing that. So i felt that all that could be known and expected re the stock, already was known and expected by everyone. And it was in the stock price. The signs were obvious.
I have been investing in high quality ipo's for more than 12 years. To date I have lost money on just one ipo. I find it much easier and a lot more exciting, to rip apart an sec prospectus and other filings for an aircraft rivet co that is new and unkown to the market, than I would trying to understand CSCO's financials. CSCO's financials are not meant for me- they're meant for pros only, and the pros will never let me in their inner circle.
(btw, I made 96% in 8 mos on that rivet co. And sometime after next week, with Aquila, I expect to get lucky yet again.... )
Victor |
