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Strategies & Market Trends : Gorilla and King Portfolio Candidates

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To: substancep who wrote (42715)	5/17/2001 12:33:00 AM
From: StockHawk	Read Replies (1) of 54805

>>It's a source of mis/disinformation.<< This raises a series of interesting questions. First, what moves stocks, cold hard reality, or innuendo, nuances, rumors, speculations and opinions. If we take it for granted that all news reporters are not scholars or tech geniuses then it seems logical to expect that all news stories will not have the validity of a research report white paper. That given, should we ignore all news (soundl like a good idea) or should we read as many different positions as possible to assess what's out there and what the public is being exposed to. A few years ago I was following a company called Agribiotech (ABTX). They were involved in the seed business and were trying to emulate other companies that had been acquired at fantastic premiums, particularly by Monsanto. I think the year was 1997 when ABTX was the 2nd best performing stock in the entire stock market rising from $2 to $29. Not long after the stock started falling hard. The catalyst was a series of articles published by Bloomberg. The venom generated by followers of ABTX - and even the company management against Bloomberg was just incredible. I even saw an analysts report where they spoke about the misguided vendetta that Bloomberg must have. Everyone seemed to agree bloomberg had it wrong, and anyone with any savvy dismissed the articles out of hand. Unfortunately, Bloomberg was on to something and the company went bankrupt, its stock falling to zero. Now, I'm not at all saying that RMBS (which I own shares of) is anything like ABTX. But I am saying that bringing articles from bona fide news sources to this thread is a good and valuable service that we should encourage. If I don't want to read something, I skip it. I don't disparage the messenger. I thank the messenger. I think we all should. StockHawk

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